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Why Aren’t Their Any Homes For Sale in South Miami?

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City of South Miami “Months of Inventory” in the Last 12 Months
$500,000 – $800,000

I have lived in South Miami over 20 years and sold nearly 100 properties during that time, and I’ve never seen so few properties for sale. We are having the driest dry spell I can remember. Seasoned realtors find 6-9 months of inventory on hand to be a healthy balance, serving the needs of both Buyers and Sellers. In May, 2013 there was only 1 month of inventory on hand!  In the past year the average has been 3.75 months!

This past weekend I got a call from someone wanting to move into the Dante Fascell Park area. They’ll buy or rent – whichever becomes available first, but want to be within walking distance to Epiphany School before the end of the year, and prefer South Miami over High Pines (west of Red Road vs. east of Red Road) because they have friends in that area (who I have sold houses to).

UntitledI specialize in South Miami real estate because I live in and love the community, and can usually place Buyers quickly. This charming family of 4 would like 4 bedrooms but will take 3, would love a pool but will consider building one, would be okay with 2,000-2,500ish square feet but would like the space to add on later, and can spend $500,000 to $800,000. Sounds flexible and easy right?

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The one available home over 2,000 square feet.
5880 SW 87th Street

Mrs. Buyer is ready to take half day off work and get started, but she doesn’t need that much time because there is only ONE house to see that meets her criteria: a sweet canal-front property on 87th Street behind Dante Fascell Park. That is all that’s on the market right now! This dry spell of homes for sale is driving our prices up, setting the stage for multi-offers, and quite frankly getting a little crazy. Will rising interest rates propel Sellers to get their wares on the market while Buyers are still eager? I hope so – let’s wait and see.

To learn more about South Miami or any other community – including Coral Gables, Coconut Grove, Pinecrest and Palmetto Bay, contact Val Byrne with EWM Realty International on www.MiamiRealEstateWorks.com or email at val@valbyrnerealtor.com or by phone at 305-323-6231. Val Byrne – Working For You!

The Return of McMansions

 

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The NYTimes had an interesting article last week called “The Return of McMansions”.   It reminded me of the “McMansion Wars” that occurred in South Miami in boom time. Back in those good ole days The City of South Miami government folks, famous for not wanting change of any kind, put a moratorium on new construction while they thought about and tweaked the codes. Lucky for them the market tanked before the Wars got too heated, but I sense this battle is going to rise again.

I’ve sold over 100 homes in South Miami, and if I had before and after pictures of every property in South Miami which witnessed demolition and then transformation, I think most would agree that “new” was a welcome change (not to mention a sizable tax base for the City). I actually had those pictures many years back when I addressed the moratorium with one of the more stubborn South Miami commissioners and even he couldn’t argue when looking at the facts.

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FUTURE SITE OF NEW CONSTRUCTION.

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FUTURE SITE OF NEW CONSTRUCTION.

 

There are a handful of properties in South Miami which have been purchased in the last year  which I suspect are going to be a cloud of dust very soon. Most of these very old homes are quite small, and unable to accommodate Miami’s “Modern Family”. Many of them have structural, plumbing, and electrical deficiencies which are not insurable or safe in today’s times. All of them lack the hurricane protection required by today’s code. Sometimes you put that all together and it is too costly to remedy!

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BUILT IN 2006. SOLD BY VAL BYRNE 2007 & 2011.

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BUILT IN 2005. SOLD BY VAL BYRNE IN 2013.

 

 

If the walls of those sweet old homes could talk they would tell us about many years of good times and good people, gatherings full of love and tradition, and endless stories of “life”. New construction is like new life – the cycle starts all over again and history is made. One thing I know from 20 years in real estate – a house is made of concrete and wood, a home is made of people.

To learn more about South Miami or any other community – including Coral Gables, Coconut Grove, Pinecrest and Palmetto Bay, contact Val Byrne with EWM Realty International on www.MiamiRealEstateWorks.com or email at val@valbyrnerealtor.com or by phone at 305-323-6231. Val Byrne – Working For You!

Are Your Patio And Pool Ready For Summer?

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It is unofficially summer! School’s out, HEAT’S up (pun intended!), and don’t those outdoor patios in Frontgate, Grandinroad, Pottery Barn, & Restoration Hardware look divine? I renovated my pool and patio last year and enjoy them SO much more.

 

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I just finished the Lease for a great outdoor furnishings resource in Miami, and they are moving to South Miami/High Pines this summer – wonderfully located midway between Coral Gables, Coconut Grove, South Miami, High Pines, Pinecrest, and Palmetto Bay.

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Living Alfresco, which currently resides at 4754 Southwest 72 Avenue, Miami, FL 33155, will be opening its new doors in the old Gardner’s Market space (a couple of doors down from Kristine Michael and Country French) and you are going to love it!

They transformed my pool & patio last year with a few pieces of much needed furniture, and an amazing splash of color-filled pillows and cushions. You’ll find everything from patio furniture to garden stools to unique planters at Living Alfresco, and proprietor Betsy Fantis will custom design an outdoor paradise that exceeds your expectations and meets your budget! Look for Living Alfresco’s Grand Opening!

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To learn more about South Miami or any other community – including Coral Gables, Coconut Grove, Pinecrest and Palmetto Bay, contact Val Byrne with EWM Realty International on www.MiamiRealEstateWorks.com or email at val@valbyrnerealtor.com or by phone at 305-323-6231. Val Byrne – Working For You!

Recently Sold By Valaree Byrne in South Miami! 6051 SW 85th Street

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List Price: $1,519,000

I have new neighbors! Just sold this beautiful home next door to my own in South Miami and am so excited (3 more boys on my basketball court!). The Buyers are going to come to love this slice of paradise just behind Dante Fascell Park as much my family has over the years.

At first they will cringe when their children beg to play in the street like the other kids, but soon they will embrace it. They will learn when the next hurricane blows through that being without power is not so bad – the block parties on 85th Street are a lot of fun and go on all night. It will only take one Halloween to realize they need 15 times the amount of candy they bought because more than a hundred little hands will be reaching in the bin, and after 9pm the big teenage hands reach in.

I will let them know about the adorable elderly lady across the street, Dorita, who loves small children and loves watching them for you! She is my favorite neighbor.

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To learn more about South Miami or any other community – including Coral Gables, Coconut Grove, Pinecrest and Palmetto Bay, contact Val Byrne with EWM Realty International on www.MiamiRealEstateWorks.com or email at val@valbyrnerealtor.com or by phone at 305-323-6231. Val Byrne – Working For You!

Have You Seen Tom Smith’s Exhibit at First National Bank of South Miami?

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I love South Miami, and not just because I live and work there (I have sold nearly 100 properties in South Miami).  This past Friday night I was reminded of what a great town our ‘home town’ is.  Came home from a long day mostly spent in and out of my car (aka a realtor’s office), was famished, and wanted to get outside.  My husband and I decided to walk to Shula’s 347 – we could eat, drink, bump into friends, and watch the Heat game – the perfect night.

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On the way over we noticed the camaraderie going on at First National Bank of South Miami (yes, home to my personal and business accounts) and stopped in for the “First Friday of the Month” art exhibit in their Wirtz Gallery.  Jackpot! We found ourselves in the midst of local artist (and I mean really local – he lives a few blocks away in High Pines) Tom Smith’s dynamic fine art photography display.  Fixed on various mediums including canvas and glass, he captures the subtle, quiet beauty of the Everglades and its interesting creatures and indigenous plant life, Matheson Hammock, and my favorite collection – the Aqua Series:  remarkably beautiful blue and green hues of water and turtle grass.  It was a wonderful night of fine art, good wine, and great friends.

Seems like half the party left the Gallery and found their way to Shula’s…typical South Miami!

Tom Smith, Mary Scott Russell (President South Miami Chamber of Commerce), Elizabeth Kuehner-Smith, Veronica Flores (Executive VP FNBSM), and Bruce W. MacArthur (Chairman of the Board FNBSM)

Tom Smith, Mary Scott Russell (President South Miami Chamber of Commerce), Elizabeth Kuehner-Smith, Veronica Flores (Executive VP FNBSM), and Bruce W. MacArthur (Chairman of the Board FNBSM)

Veronica B. Flores (Executive VP FNBSM), Tom and Valaree Byrne

Veronica B. Flores (Executive VP FNBSM), Tom and Valaree Byrne

To learn more about South Miami or any other community – including Coral Gables, Coconut Grove, Pinecrest and Palmetto Bay, contact Val Byrne with EWM Realty International on www.MiamiRealEstateWorks.com or email at val@valbyrnerealtor.com or by phone at 305-323-6231. Val Byrne – Working For You!