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Archive for January, 2012

Jazz in the Gables Wednesdays

January 30th, 2012 Written By Carol Pawley

The city of Coral Gables is constantly thinking of new ways to improve the city and engage the community. Their creativity never ceases. The second annual Jazz in the Gables is back. Now through March 28th enjoy live Jazz performed by renowned and upcoming musicians every Wednesday at lunchtime. 

Where: Plaza of the Coral Gables Museum on Salzedo Street – two blocks north of Miracle Mile

When: Wednesday through March 28th – 12:15 pm

Cost: Free

Extras: Boxed lunches for sale by Pollo Tropical, shaded seating provided, prize drawings every week.  

To see a full schedule of events and performers, click here.

 

If you would like more information on Coral Gables events, please contact me at (305) 992 6188 or email me at carolapawley@gmail.com

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Golf Course Views: 600 & 700 Coral Way

January 26th, 2012 Written By Carol Pawley

 
Segovia  Tower – 600 Coral Way:

To search available properties at Segovia Towers, click here.

Located at the corner directly across from the Granada Golf Course (next to Gables on the Green), Segovia Towers is a luxury Coral Gables condo building. It features wonderful balconies with views of the golf course and city from every room.  The building was built in 1998 and features only 15 exclusive residences, with one residence per floor.  Each unit is over 4,000 square feet – providing plenty of room for living space, eat-in kitchens, master baths with Jacuzzis and 360 degree views. The building also enjoys a gym, pool and security. 

 

Gables Bath Club – 700 Coral Way:

To search available properties at Gables Bath Club, click here.

 This magnificent  building enjoys breathtaking, unobstructed views of the famed Granada Golf Course in the historic district of Coral Gables.  The Gables Bath Club is an exclusive boutique building with only 12 luxury apartments. There is one apartment per floor, each with its own private elevator and foyer entrance. Each apartment is bright and spacious, featuring huge wrap around balconies, floor-to-ceiling impact windows with amazing golf course views from every room.

View my pocket listings at 600 and 700 Coral Way. 

If you would like more information on 600 and 700 Coral Way, please contact me at (305) 992 6188 or email me at carolapawley@gmail.com

 

Top 10 Most Expensive Homes Sold in 2011 – Coral Gables, Florida

January 25th, 2012 Written By Carol Pawley

Despite turnarounds, the real estate market in 2011 had its share of challenges. The South Florida market is no exception to the national housing market stress, but with help from foreign buyers and investors we’ve experienced a boost in sales. Perhaps, the most challenging area is the single family luxury homes market. With homes priced in the millions the average sold is one a month. When compared to the average of 39 sales a month for median and lower priced homes luxury real estate may seem like a tough sell. Even so, 2011 saw its share of multimillion dollar sales, leaving one with the impression that the Miami luxury market is still in demand.

Here are the top 10 most expensive sales of 2011 in Coral Gables, Florida:

1. 385 SOLANO PRADO

$ 9,000,000

2. 21 TAHITI BEACH ISLAND

$ 7,500,000

3. 6939 SUNRISE DRIVE

$ 6,800,000

4. 5228 OAK LANE

$ 6,600,000

5. 480 ARVIDA PW

$ 5,830,900

6. 325 COCOPLUM ROAD

$ 5,500,000

7. 6312 RIVIERA DRIVE

$ 4,500,000

8. 2 LEUCADENDRA DRIVE

$ 5,150,000

9. 23 TAHITI BEACH ISLAND

$ 5,150,000

10. 225 LEUCADENDRA DRIVE

$ 4,750,000

If you would like more information on available properties on the luxury market, please contact me at (305) 992 6188 or email me at carolapawley@gmail.com

Pocket Listing: 600 Coral Way

January 20th, 2012 Written By Carol Pawley

Segovia Towers – 600 Coral Way:

 Pocket listings can be a realtor’s best kept secret. Realtors with first hand access to unlisted property have the edge on the competition. Stocked with exclusive inventory, they now have the properties no one else has access to, making it important to choose a realtor who is well connected with the resources to find you the right place.

One of my pocket listings is in Segovia Towers at 600 Coral Way in Coral Gables (see my other pocket listing at 700 Coral Way). One of the Golf Course Views boutique condo buildings, Segovia offers residents exclusive luxury. Designed by architect Charles Harrison Pawley and dubbed an “architectural gem,” Segovia only has 12 residences, each with it’s own private floor.

This 2 bedroom, 2.5 bath unit is over 3,850 sq. ft. and features unobstructed views of the Granada Golf Course. Complete with top of the line “Baultahup” gourmet eat-in kitchen with 2 sub Zeros, a bar area, a large living room with a stately fireplace (24″ x 24″), marble floors and a private lobby. This pocket listing at 600 Coral Way offers optimum luxury with the perks of location. 

Sample floorplan

For more information on 600 Coral Way, click here.

If you would like more information on this pocket listing, please contact me at (305) 992 6188 or email me at carolapawley@gmail.com

Florida Real Estate Tips & Traps for Foreign Buyers.

January 17th, 2012 Written By Carol Pawley

foreign buyers in miami

The real estate market Florida is offering foreign buyers presents a doubly good opportunity rarely seen in the region: Prices are flat or declining and foreign currencies are rising relative to the U.S. dollar.
Current conditions are especially attractive to investors who have seen prices rise sharply in their native countries to levels that now well exceed comparable properties in Florida.
Buying a bargain is not that simple. Real estate agents must guide foreign buyers through a complex maze of visas, real estate regulations and currency rules.
Prospective buyers need to be educated to avoid mistakes that will cause them to be turned away at U.S. Customs or the bank. And foreign buyers need to know that the U.S. government takes a different view of a real estate transaction when a foreign individual or corporation is involved.

Structuring the deal

Even before viewing residential or commercial properties, a real estate agent should help the buyer structure the purchase. Tax experts advise that because of estate tax and other issues, a foreign buyer should hold the property in the name of a corporate entity.
Depending on the value of the property, the title holder could be an offshore company. It could also be a Florida LLC that’s owned by an offshore company. In any case, the companies should be set up well before settling on a home or a building so as not to impede the closing due to corporate paperwork.
The biggest possible mistake: Buying in an individual’s name. That could result in U.S. estate tax problems. Buying in a personal name could also create tax or political issues in the client’s native country. Last, the purchaser should use a corporation when buying an investment property to avoid personal liability.

Financing the deal

After the mortgage crisis, lending institutions are no longer accommodating to foreign buyers. At best, they will get 50 to 60 percent financing from U.S. lenders.
More challenging is moving the money into the United States. Federal agencies will want to know where the money came from. When corporations transfer funds to a bank, whether a branch of a foreign institution or a U.S. bank, money-laundering regulations can come into play, especially if the sum is substantial or there are frequent transactions.
Most foreign clients keep funds offshore and transfer them bank to bank. It’s not that simple. They must comply with currency rules in their home country and may encounter withholding requirements. The more complicated the transfer process, the more time buyers should allot to get funds ready.
For commercial transactions, real estate agents must time the cash and the transaction. Buyers should understand that deadlines for escrow funds and closing cannot be moved.
For home purchases, timing is even more crucial. About 80 percent of deals are all-cash transactions. If the property is a second or third home, the client may seek financing, but the rate will be higher than an American client would pay. Tip: Foreign buyers or investors should establish an investment relationship with a private bank. The firm will be happy to lend based on the balance in that account.

 Visiting or managing the property

In working with a foreign client, real estate agents also need to be a bit of an immigration expert. After 9/11, the United States clamped down hard on visas.
Depending on how long the person wants to stay in the United States, a B-1 tourist visa of one to two weeks may suffice. The person can come and go through the state’s many international airports. But if the individual stays in the United States too many days, he or she could be taxed as an American. To avoid that trap the visitor can become a full-time student and get an F-1 visa.
Investors and property managers can also arrange long-term stays. The best visas require a direct investment in an American company in the United States or establishment of a local subsidiary of a foreign company.
The investment could cost buyers more than a downtown condo, but it will enable them to stay in the United States legally for a period of years — instead of a period of weeks. Business visa options include the E-1 Treaty Trader and E-2 Treaty Investor visas, L-1(A) Visa, TN Visa, H-1B1 Visa and the most popular, EB-5. The U.S. State Department provides basic visa definitions at http://www.travel.state.gov/visa/visa_1750.html that may help buyers understand their basic options.
Paperwork and complex rules shouldn’t scare away a potential buyer. When the right property is found at the right price, buyers can bring in legal and tax consultants so that the transaction goes smoothly, the property is managed properly and a visa is obtained with a minimum of trouble.
Randall L. Sidlosca is a partner in the Miami office of Arnstein & Lehr. He practices immigration law, including matters related to visas and U.S. investment.

Source: Miami Herald, Business Monday

If you would like more information on foreign buying, please contact me at (305) 992 6188 or email me at carolapawley@gmail.com

It’s a Course Life in Coral Gables, FL

January 16th, 2012 Written By Carol Pawley

 Granada Golf Course:

One of the advantages of living in Coral Gables is location location location! Residents not only enjoy access to leisurely activities, but they have the option of where and how they would like to live. Locals can choose from a variety of life styles that include water front residences, Miracle Mile living, high rises with golf course views and the secluded, yet well connected Deering Bay community. One of the many pastimes available is Granada Golf Course:

“Opened in fall 2004, Granada Golf Course is an 18-hole championship course. Granada is arguably the most scenic course in the Village. With something for everyone, rolling hills, amazing views, beautiful creeks, and pine forests are just some of what make this course unique. The course ranges from 5,014 yards from the forward tees to over 7,000 yards from the back. “It has some of the best par 5’s in the Village,” Director of Golf John Paul said. With almost seven miles of cart paths, Granada plays shorter than it reads. Although being located in the foothills of the Ouachita Mountains may have disadvantages for walkers, the great views, long fairways, and large driving areas make up for it in playability. Granada features Tif Sport Bermuda in the fairways, tees and roughs. The greens are a blend of L93 and Crenshaw Bent grass. The signature hole on this course is the beautiful 18th with a meandering waterfall that stretches the length of the fairway and was built entirely out of rocks that were removed during course construction.

One of the best and most difficult holes on the course is the par 4 No. 17 which has a green 60 yards in length.”

Type Public
Holes 9
Architect(s) Mark Mahannah
Year built 1926
Guest Policy Open
Golf Season year round
Metal Spikes Allowed No
Driving Range Available No
Rental Carts Available Yes
Rental Clubs Available Yes
Pro Available Yes
Tee Times Welcomed Yes
Price Range Weekdays $23
Price Range Weekends $27
Source: Google

To see condos overlooking Granada Golf Course click here.

If you would like more information on the best places to live for leisurely activites in Coral Gables, please contact me at (305) 992 6188 or email me at carolapawley@gmail.com

 

Pocket Listing: 700 Coral Way, Coral Gables, FLA.

January 12th, 2012 Written By Carol Pawley

Gables Bath Club – 700 Coral Way:

One of the pocket listings I have is in the Gables Bath Club, located at 700 Coral Way. The first time I sold it was in 2009 from an estate and it has since been completely remodeled. Overlooking the Granada golf course, this gorgoeus 3,200 sq. ft. corner unit features a wrap around balcony and floor to ceiling windows with sprawling views of the golf course greens. I have personally sold this unit at the Gables Bath Club four times and now have the opportunity to sell it once again.  It is one of my favorites because of the views and also the finishes in this apt.  The unit has marble floors, gorgeous eat in kitchen with all the bells and whistles including warming drawer, wine cooler and plenty of storage.  Look see below the pictures say it all!  It is a 2 bedroom 3 bath with over 3,200 sq. ft. of living area with multiple balconies and views.  It comes with 2 covered parking spaces. 

For more information on 700 Coral Way, click here.

If you would like more information on this unit at 700 Coral Way or any of my other pocket listings, please contact me at (305) 992 6188 or email me at carolapawley@gmail.com

 

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