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Debra Wellins

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The Best Real Estate Market Indicator – Number of Months Supply

Debra Wellins The number of months supply of housing inventory is the most important metric in the real estate business and the key to understanding housing market value trends. The optimum number of months supply ranges between six and nine months.  Once the number of months supply falls below six months, the value of homes and condos increase. Once the number of months supply rises above nine months, values begin to level out, and eventually begin to fall as the number of months supply... Continue Reading >

Just Closed on Another Townhouse

Debra Wellins Its been a great run for Wellins Dwellings this year.  I've had four closings in three months, all smooth as silk, happy buyers and sellers and personally, a most satisfied feeling. My clients and I work closely through the process of buying and selling their homes and we get to know each other quite well, becoming extended family, so to speak. I've really enjoyed working with Joyce, Gary, Liz and Christine this year and am looking forward to working with my two new sellers.  Both own... Continue Reading >

What is My Home Worth?

Debra Wellins You think your home is worth HOW MUCH? Well let's find out.  It could be more, but then again, it could be less. Even if you're not thinking of selling right now, it's good to know the value of your home or condo. Just click this link for a complementary home valuation. I am an estate specialist in Pinecrest, Coral Gables and Coconut Grove.  Don't go it alone with one of the most valuable assets you own. Depend on a professional market analysis to know the true... Continue Reading >

Highest Sale – Lowest Sale in Pinecrest

Debra Wellins Here's the ying and yang of single family home sales in The Village of Pinecrest this year. Let's start with the high end.  Located at 9030 SW 60th Ave, this 7 bedroom, 8 bath, 3 half bath home with 12,400 square feet of living area on over an acre sold in June for $6,199,000 or $444 per square foot. The estate was listed by Saddy Delgado of One Sotheby's and has every conceivable luxury accouchement including a spectacular theater room, bar with wine cellar, staff... Continue Reading >

Breaking News: Zillow Agrees to Acquire Trulia

Debra Wellins Trulia has entered into a definitive agreement to be acquired by Zillow.  The agreement stipulates a 3.5 billion stock-for stock transaction approved by the Boards of Directors of both companies and is expected to close in 2015. Both companies will operate as separate and distinct brands.  At closing, Trulia CEO Pete Flint will remain as CEO of Trulia but report to Zillow CEO Spencer Rascoff.  Rascoff and an additional member of Trulia's Board will also join Zillow's board, which will oversee the combined... Continue Reading >

JUST SOLD MODERN COCONUT GROVE TOWNHOUSE

Debra Wellins   I just closed on this fabulous Coconut Grove townhouse at 3177 Florida Ave. This place is absolutely divine.  Not only is it located on a quiet charming street, but it is walking distance to everything Coconut Grove. I represented the buyer of this modern townhouse, listed by Jessica Adams of the Riley Smith Group.  This stunning place was a hot prop and had multiple offers in a matter of hours.  We secured the contract and the rest is history. My buyer is thrilled with his purchase... Continue Reading >

Pinecrest Townhouse Sales

Since January, only 4 townhouses have closed in Pinecrest, two at Swan Lake and two at Sutton Place. The prices ranged from $425,000 ($224/SqFt) for a 3 bedroom, 2.5 bath townhome at Sutton Place to $650,000 ($221/Sq Ft) for a 3 bedroom, 3 bath tonwhouse at Swan Lake. The townhouse market in The Village of Pinecrest is extremely small when compared to single family homes.  There are several townhouse communities just west of US1 and 104 Street that include Kendall Trace and Dadeland Cove with the 33156 zip code,... Continue Reading >

Inventory of Homes for Sale is on the Rise – Especially in Palmetto Bay

Debra Wellins There are definitely more homes on the market this year over last.  Take a look at the graph to the right that compares single family homes for sale between Jan 1 and June 1 in 2013 and 2014. Palmetto Bay has seen the greatest increase in homes for sale, up by 44%.  This is a super hot area to buy in right now. South Coral Gables has had the second highest increase in inventory at 22% followed by The Village of Pinecrest and Key Biscayne at 18% and... Continue Reading >

How Long to Sell Your Home in Pinecrest

Debra Wellins Sellers frequently ask me how long I think it will take to sell their home in the Village of Pinecrest.  Homes that are priced correctly usually sell within weeks in today's seller's market.  Price is clearly the number one factor that determines speed of sale. That being said, the time it takes to sell a home depends on a  number of other factors: current available inventory, location, style, appeal, updating, and motivation of seller and buyer. Pinecrest homes are averaging 95.5 days on the market (DOM). ... Continue Reading >

Pinecrest May See Decline in Sales Price Per Square Foot

Debra Wellins This year, single family homes in the Village of Pinecrest have sold for an average of $300 per square foot. I've been looking at pending sales data for 2014 and it shows the average list price per square foot at $260. Since the average sale price to list price ratio is 95% for the year, meaning that the average home sells for 95% of the asking price,  we can expect pending home sales to close at an average of $247 per square foot. This is not necessarily a... Continue Reading >