February 24, 2013

Update on Pinecrest Homes for Sale

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 […]
February 23, 2013

Pinecrest Market Analysis 2012 – The Year in Review

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 […]
February 17, 2013

Bidding Wars in Coconut Grove, Coral Gables and Pinecrest

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 […]
February 16, 2013

Five Real Estate Provisions in “Fiscal Cliff” Bill

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 […]
February 15, 2013

Citizens Property Insurance Has Lions Share of Policies in Florida

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.
February 15, 2013

Sales Stalled in Snapper Creek Lakes

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 […]
December 28, 2012

Opportunity Knocks – Home Prices May Jump in 2013

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 […]