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Archive for November, 2012

New Listing: 3632 Stewart Av

November 30th, 2012 Written By Carol Pawley

A stunning 1920s-era restored estate has just been listed in Entrada Estates. This exquisite home features 5 bedrooms, 5 baths, cathedral ceilings, formal dining room & family room with pool views, top of the line kitchen, 900 bottle walk-in wine cellar, surveillance system, full house generator, lavish landscaping with koi pond and best of all a detached master suite. Updates also include impact windows & doors. The end result conveys old Hollywood glamour. Entrada Estates is a gorgeous, waterfront gated community located off of Douglas Road in Coconut Grove’s south end. The community consists of three streets, Matheson Avenue, West Avenue and Stewart Avenue. The streets are public but do have a guard gate at the entrance and roaming security. The community also features a tennis court. The listing agent is Toni Schrager & Pamela Bahouth of Avatar with an asking price of $3,150,000.

 

Throughout the years I have helped many friends and clients purchase or sell property in Coconut Grove.  If you are interested in purchasing or selling a home, please contact me as I can give some first-hand sound advice with no pressure.  Please send me an email at carolapawley@gmail.com or call me at 305-992-6188. 
 
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Snapper Creek Lakes Market Update

November 29th, 2012 Written By Carol Pawley

The average sales price in Snapper Creek Lakes to date is slightly lower than last years. The same goes for the average price per sqft. Currently there are 11 homes for sale with no pending sales. Hopefully another home sells before the end of the year to raise the average sales price and price per sqft for 2012.

Click here to see homes for sale in Snapper Creek Lakes

Throughout the years I have helped many friends and clients purchase or sell homes in Snapper Creek Lakes and am a former resident of the community.  If you are interested in purchasing or selling a home, please contact me as I can give some first hand sound advice with no pressure.  Please send me an email at carolapawley@gmail.com or call me at 305-992-6188.
 
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How Latin Americans Helped Miami’s Real Estate Market

November 28th, 2012 Written By Carol Pawley

Latin American buyers have helped saved Miami’s real estate market. Brokers across South Florida link Latin Americans, especially Brazilians, paying cash for perceived condo bargains as the single biggest driver of the market.  35% of all foreign buyers in Florida have come from Latin American countries in 2012.

Michael Sadov, director of sales at Canyon Ranch Living Miami Beach, said, “I think they’ve kept our entire real estate market alive. “If we didn’t have the South American influx, I do not believe you’d see the absorption of the real estate that happened. I think they were monumental for us.”

Latin Americans represent a great amount of the $10.7 billion foreign buyers brought in Florida sales from 2011-2012 and the greater part of buyers in the condo market in Miami are from Latin America.

“They came in with a lot of buying power, and we’re basically pretty inexpensive compared to major markets in Europe or even in Brazil,” said Nathan Zeder of Esslinger-Wooten-Maxwell’s Zeder Team in Coral Gables. “Consequently, with their strong currencies and much lower prices, they were able to absorb the inventory inexpensively. Compared to beachfront condos in places like Rio de Janeiro, Miami represented a relative bargain”, he said. “From my understanding, the good areas in Brazil are in excess demand, and they’re probably $2,000 to 3,000 a square foot for the really high-end areas,” Zeder said. “The best areas in Miami were [in 2010 and 2011] around $1,000. They’ve gotten higher, but at the bottom of the market, you could pick up fantastic units and you’d be paying under $500 a foot.” You’re seeing Brickell preconstruction projects being sold out, and it’s all South Americans,” Zeder said. “It’s all cash. “It’s a great indicator that foreign buyers are driving this whole new wave of construction — without foreign buyers, I don’t think we would have 12 towers under construction,” said Zeder.

The Latin American buyers are so affluent, with cash in hand. They are mainly looking for either a second (third or fourth) homes or investment properties.

Canada was the second largest demographic.

Throughout the years I have helped many friends and clients purchase or sell property in Miami .  If you are interested in purchasing or selling a home, please contact me as I can give some first-hand sound advice with no pressure.  Please send me an email at carolapawley@gmail.com or call me at 305-992-6188. 
 
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South Florida Sees 70% Drop In Resale Inventory Since 2008

November 26th, 2012 Written By Carol Pawley

South Florida’s resale inventory has dropped 68% since Thanksgiving week in 2008. There were almost 108,000 resale properties on the market at that time, and there are just 34,250 condos, townhome and single-family homes on the resale market as of this week. Currently there are 23,000 residential properties under contract.

Throughout the years I have helped many friends and clients purchase or sell property in Miami & throughout Florida.  If you are interested in purchasing or selling a home, please contact me as I can give some first-hand sound advice with no pressure.  Please send me an email at carolapawley@gmail.com or call me at 305-992-6188. 
 
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Miami & Florida Home Prices Up

November 21st, 2012 Written By Carol Pawley

Data from Miami Associaton of Realtors showed the median sales price for Miami single family homes increased 5.8% to $185,000 in October 2012, compared to the same month in 2011. Sales activity also saw a rise with a 41.9% increase for single family homes. Prices statewide also have jumped. According to a report by Florida Realtors, closed sales for single family homes in Florida rose 25.3% in October 2012. There were a total of 17,779 closed sales of existing single-family homes in October compared to the same month in 2011. Pending sales of existing single-family homes rose 56.7% in the same period. The statewide median sales price for single-family homes reached $145,000, an increase of 9%. Dr. John Tuccillo, chief economist for Florida Realtors said, “Once again, everything that should be going up in the market is going up, and everything that should be going down is going down.”

Looking to buy a home in Miami, click here to see all homes for sale in Miami.

Throughout the years I have helped many friends and clients purchase or sell property in Miami & throughout Florida.  If you are interested in purchasing or selling a home, please contact me as I can give some first-hand sound advice with no pressure.  Please send me an email at carolapawley@gmail.com or call me at 305-992-6188. 
 
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Miami Foreclosure Rate Falls

November 21st, 2012 Written By Carol Pawley


The foreclosure rate among outstanding mortgage loans in the Miami-Miami Beach-Kendall metro area fell by 2.42% points to 15.86% in September compared to the same month in 2011, according to data from CoreLogic. Miami-Miami Beach-Kendall metro area foreclosure activity is significantly higher than the national rate of 3.25%. A decrease in Mortgage delinquency was also reported, 22.44% of mortgage loans in the area 90 days or more delinquent, compared to 25.31% for the same period last year, a 2.87% point reduction.

 

I keep up to date on the market.  I make sure my clients are well informed so they make the best decisions when buying or selling their home. Please send me an email at carolapawley@gmail.com or call me at 305-992-6188 if you are interested in buying or selling a home in Coconut Grove.
 
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Miami Condos & Florida Condo/Townhomes Prices Up!

November 20th, 2012 Written By Carol Pawley

Data from Miami Association of Realtors showed the median sales price for condominiums in Miami-Dade County increased 24.2% to $146,000 in October 2012, compared to the same month in 2011. Sales activity also increased rising 24.2%. Martha Pomares, 2012 chairman of the board of the Miami Association of Realtors says “Intense demand for Miami properties continues to fuel robust price appreciation. Demand from investors, foreign and vacation buyers as well as U.S. and local residents remains very strong.”

According to a report by Florida Realtors, closed sales for condos/townhomes in Florida jumped 16.4% last month. 8,252 units sold in the month of October 2012. The median price statewide was 20% over last years.

Interested in buying a condo, click here to see all condos for sale.

 
Throughout the years I have helped many friends and clients purchase or sell property in Miami & throughout Florida.  If you are interested in purchasing or selling a home, please contact me as I can give some first-hand sound advice with no pressure.  Please send me an email at carolapawley@gmail.com or call me at 305-992-6188. 
 
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