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Debra Wellins

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Pinecrest Market Report – July 2013

Debra Wellins In July, 27 single family homes were sold in The Village of Pinecrest for a total volume in sales of $29,898,500.  Sales were strongest in the $600,000 - 700,000  range and in the $1 - 2 million range for the luxury market.  The average home was 5 bedrooms, 4 baths, with 4, 050 square feet of living space that sold for $1,107,352 or $273 per square foot.  The average house sold for 95% of sales price to list price and... Continue Reading >

Chinese are Fastest Growing International Property Buyers

Debra Wellins Chinese buyers rank as the world's fastest growing population of property buyers and they are particularly enthusiastic about investing in North American real estate, according to FloridaRealtors.org. They are estimated to spend $114 billion on overseas property by 2015. Chinese investors are also part of an international group of buyers in Miami, picking up properties to build a rental portfolio of condos, houses and duplexes by purchasing bank-owned units, the Daily Business Review reported. I think I'll sharpen up on my Mandarin. I am a... Continue Reading >

Palmetto Bay 2nd Quarter Sales 2013

Debra Wellins Palmetto Bay is selling like hot cakes.  Eighty residential homes closed between April 1 and June 30, 2013 compared to 55 homes sold in the first quarter. That's a 31 % increase.  Check out the graph to see the price breakdown.  The majority of homes sold between $400,000 - 449,000. The lowest sale was a 2 bedroom, 2 bath house with 884 square feet of living space that sold for $70,000 or $79/sq ft..  The most expensive sale was a 6... Continue Reading >

Comparison of 1st Quarter and 2nd Quarter Sales in Pinecrest

Debra Wellins Pinecrest sales were robust in the second quarter compared to the first.  Eighty six homes sold in the second quarter while only 34 homes sold in the first. Take a look at the charts below to compare the high, low and average sales in the Village of Pinecrest for the first and second quarters. Except for the increase in total number and volume of homes sold, the average square feet of living space and average price per sale have decreased along... Continue Reading >

Village of Pinecrest – 2nd Quarter Sales 2013

Debra Wellins In The Village of Pinecrest, 86 residential properties sold from April 1 - June 30, 2013 with a total volume in sales of $86,736,675.00. Only six properties that sold were under $500,000, but 55 sales were between $500,000 and $999,999.  In the luxury market, 25 properties sold over $1,000,000 as follows:  there were ten closed sales between $1,000,000  and $1,499,999, eight sales between $1,500,000 and $1,999,999,  four sales from $2,000,000 to $2,499,999 and three sales between $2,500,000 and $3,000,000. Click on this... Continue Reading >

Brazilians Like Miami

Brazil ranked number one in foreign countries searching for Miami properties on Miamire.com in May, 2013.  South Florida continues to be a hot spot for international real estate buyers and consumers with Canada, Columbia, Venezuela,  Spain, Argentina, France, United Kingdom and Italy in the top ten. Part of the reason that Brazil tops the list is because Miami is the ambassador association for the National Association of Realtors to SECOVI-SP in Brazil and has networked with Brazilian agents and buyers since... Continue Reading >

Price Per Square Foot Surges in Gables by the Sea

Debra Wellins There has been an astounding increase in the average price per square foot of homes for sale in Gables by the Sea for the second quarter of 2013.  Thirteen listings on the market are averaging an asking price of $589/square foot. Compare this number to the seven closed sales averaging only $316/square foot.  That's a whopping 69% difference.  Compare this to the six pending sales (those that are due to close in the next month or two) that are averaging an... Continue Reading >

Snapper Creek Lakes is Trending Up

Debra Wellins Finally there have been some closings in Snapper Creek Lakes after a first quarter lull.  Four properties sold in the second quarter of the year averaging 5 bedrooms and 5 baths, with 5, 206 square feet of living space, for an average sale price of  $2,590,000 or $498 per square foot. But, the trend is skywards for this prestigious Coral Gables waterfront community.  There are 9 homes for sale averaging 6 bedrooms and 7 baths with 10,605 square feet of space... Continue Reading >

Ultra Luxury Smart Home Technology

Debra Wellins This is how it works!  You're having a party and want to set the mood.  With one touch,  the lights turn on to a preset softness and color, the thermostat reduces the temperature, the fountains flow, the motorized shades retract, the music begins, the front gates open and the fireplace ignites.  Bing-bang-boom. Home automation is the rage in ultra luxury residences and businesses.  You may have heard some of the buzz words like Lutron Lighting and Crestron Systems that are promoted in real estate marketing.  According... Continue Reading >

Pinecrest Real Estate Market Update

Debra Wellins To show you the trends in the Village of Pinecrest real estate market these days, I've created the chart below that shows the number of new listings that came out on the market each month in 2013 combined with how many of those new listings have either pended or sold. As you can see, we had the highest number of new listings in April and the highest number of pending or closed sales in May.  This trend is very common for... Continue Reading >