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Debra Wellins

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Residential Land Sales in Pinecrest

Debra Wellins The Village of Pinecrest has been active in land sales this year with nine lots between .65 acres to 1.5 acres selling for an average of $18 a square foot.  The most expensive land,  a 6,438 square foot lot  lot on 78th Ave and 111th St., sold for $1,100,000 or $23 per square foot.  The smallest parcel on 78th Ave and 110th St sold for $370,000 or $14 per square foot. These lots were on the market an average of 250... Continue Reading >

Luxury Sales in Coconut Grove

Debra Wellins Forty two homes sold in the residential luxury market in Coconut Grove this year, with sales beginning at $1,000,000. The chart below breaks down the sales in increments of $200,000 until reaching $2,000,000.  Sales were strongest between $1,200,000 and $1,399,000, with nine of those sales falling between $1,200,000 and $1,299,000. In the ultra luxury category, only five homes sold this year between $2,000,000 and $3,000,000. View Homes for Sale in Coconut Grove I am a luxury home specialist.  If you would like to schedule... Continue Reading >

Flipping Houses – Seven Rules to Flip By

Debra Wellins Interested in buying properties at a discount, fixing them up and re-selling them quickly for a profit?  Follow these seven rules and you will succeed. 1.  Don't overpay for the property.  Know its value. 2. Don't underestimate the cost of repairs or skimp on renovations. (Save receipts to show appraisers) 3.  Don't buy with the expectation that the property will rise in value quickly. 4.  Buy with enough of a discount that the property has instant equity. 5.  Buy a property for no more than... Continue Reading >

Coconut Grove Investment Ops -Tear Downs and Renovations

Debra Wellins Coconut Grove is bustling with investors, builders and home buyers snatching up original Grove homes on small lots that are prime for renovation or, more often than not, tear down and new construction. Built in the early to mid 1900's, these houses are approximately 940 to 2,330 square feet, on tree lined lots from 5,000 to 10,000 square feet.  They are selling between $ 320,000 and $640,000 at an average selling price of $526,000 or $324 per square foot.  This is... Continue Reading >

Rock Lake in Pinecrest – Two Homes for Sale

Debra Wellins Very little real estate in the Village of Pinecrest is waterfront with the exception of homes along canals and on small lakes that do not have ocean access.  Rock Lake, nestled between 67th and 69th Ave and 124th St and 130th Terr, is one such community where residents can canoe and paddle boat while enjoying the serenity, privacy and views of the lake. Two Pinecrest homes are currently for sale in Rock Lake, only one of which is lakefront.  Pictured here, it is... Continue Reading >

Distressed Sales of Single Family Homes – Southeast Miami Dade Corridor – 2013

Debra Wellins Distressed single family home sales as a percentage of total annual sales are down since the first quarter in homes along the Southeast Miami-Dade corridor.  Distressed sales include foreclosures and short sales. I analyzed distressed sales in six cities: Pinecrest, Palmetto Bay, Coconut Grove, Coral Gables, South Miami and Key Biscayne.  In the chart  to the right you can see that Palmetto Bay had the highest percentage of distressed sales (17%) followed by Coral Gables (12%), South Miami (9.5%), Coconut Grove... Continue Reading >

Compare Your City – Average Price Per Square Foot of Homes for Sale

Debra Wellins Check out how your neighborhood compares in average price per square foot for single family homes for sale.  I analyzed homes currently on the market in six cities: Coconut Grove, Coral Gables, Key Biscayne, Pinecrest, Palmetto Bay and South Miami. The numbers are quite interesting, especially if you are thinking of buying or selling a home. Key Biscayne is king of the mountain with the average home offered at $1,079 a square foot.  Coconut Grove and Coral Gables  are comparable to each... Continue Reading >

South Coral Gables Market Report – July 2013

Debra Wellins Closed Sales In July, a total of six properties sold in South Coral Gables off Old Cutler Road averaging 5 bedrooms, 4 baths with 4,428 square feet of living area at an average sale price of $2,740,833 or $619 per square foot.  These homes were on the market an average of 130 days and sold for 94% of list price. By comparison, last July, 2012, four homes sold for an average price of $1,900,000 or $313 per square foot. Pending Sales Eight residential homes... Continue Reading >

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 >

Pinecrest Real Estate – The Elysium

Debra Wellins The Elysium is a walled community off 57th Ave. (Red Road) and 112th Terrace with 27 homes.  Residences in this Pinecrest community range from 2 - 7 bedrooms with 2,360 - 8,144 square feet of living area and  lots from approximately 1/2 acre to 1.5 acres.   Homes for sale in The Elysium range from $600,000 to over $3.5 million. This year, there have been no closed sales in The Elysium. One home is a pending sale and two homes are... Continue Reading >