Residential home sales in Palmetto Bay in 2012 were strong with 290 closed sales for a total volume of $118,073,513. The most expensive house sold for $1,00,000.00 at $285 per square foot while the least expensive home sold for $70,000.00 at $94 per square foot. The average house in Palmetto Bay was a 4 bedroom, 2.5 […]
Market reports say there is little inventory to sell these days. Well, its true. Pinecrest has 128 homes currently on the market. They range in price from a 3 bedroom, 2 bath, short sale in SW Pinecrest for $395,000.00 on a 3/4 acre lot to an 8 bedroom 9 bath new Italianate estate on over […]
The Village of Pinecrest had a very good year with 223 homes sold for just under $217,000,000.00 in total sales. Sales ranged from $220,000.00 to $4,500,000.00 with an average sale price of $972,821.00 and an average square foot (SF) price of $232.00. In the chart below, Pinecrest is divided into approximate quadrants to evaluate the statistical differences within […]
Overbidding the Appraised Value The highest offers on a property, if contingent on an appraisal, are not necessarily the best. We are seeing some overbidding on properties that allow the buyer to clinch the deal, only to manipulate the sale to a lower price with the appraisal. Sellers have options when receiving multiple offers. Countering with an […]
Tax Breaks Extended through 2013 in Cliffhangar President Obama signed into law the real estate-related provisions of the so-called “Fiscal Cliff” Bill. It’s more of a slippery slope in that the House and Senate extended most provisions through 2013 and made them retroactive for 2012. Here’s the gist of it. The Mortgage Forgiveness Debt Relief Act […]
The latest report from the Florida Office of Insurance Regulation places Citizens Property Insurance as the number one carrier of residential homeowner insurance policies. In report by Florida Realtors, as of December, 2012, Citizens Property has 1,423,160, Universal Property & Casualty 578,825 and State Farm Florida 453,997.
What is Going on in Snapper Creek Lakes? Sales have slumped in this Coral Gables enclave off Old Cultler Road. There are currently 12 properties for sale listed between $1,999,000 and $10,850,000, but the last property to close was in September, 2012 and there are no pending sales. These luxury properties with acreage, in a beautiful location, have had no buyers […]
Home Prices On The Rise For 2013 In Miami Home prices are expected to rise between 3.4 and 5 % in 2013. This is due, in part, to the net demand of homes in a market where the inventory of homes for sale remains low. Without the fear of further pricing declines, homeowners able to […]