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Too Tired to Walk On Halloween?

halloween-1

 I’ve had a couple of clients who recently moved to Miami ask me where they can relax and enjoy a Halloween Party with their kids.

If you live in Coral Gables, Coconut Grove, South Miami, Pinecrest, or Palmetto Bay you are in SO much luck! These communities are so exceptional, and I don’t say that because most of my sales are in these neighborhoods; my sales are in these neighborhoods because the communities and the government centers that manage them are THE BEST! Enjoy Halloween Events at anyone of these venues:

 happy-halloween-house-wallpaper

Coral Gables: Halloween on the Mile. From 4 pm to 7 pm, there will be trick-or-treating along the Mile and its adjacent streets. Other activities include story time at Books & Books at 4:30 pm, a children’s costume contest at Actors’ Playhouse at the Miracle Theatre at 5 pm and a doggie costume contest at the Coral Gables Museum at 5:30 pm.

Coconut Grove: Howl-o-ween at Cocowalk. From 2 pm until 7 pm, children are invited to trick-or-treat in and around Cocowalk. In addition to loading up their Halloween goody bags, children will also be able to enjoy face painting, a costume contest, magicians and clowns.

South Miami: Safe Streets Halloween. From 4 pm until 7 pm, the City of South Miami will be closing off Sunset Drive from US1 to Red Road for its annual Halloween trick-or-treating event.

Pinecrest: ‘Track or Treat’ at Evelyn Greer Park. Show up dressed in your Halloween best at any time from 5 pm until 7 pm and join the community trick-or-treating along the track and sampling yummy treats from local businesses.

Palmetto Bay: ‘Where Monsters Go’ at Coral Reef Park. This event begins at 6 pm, with a free movie screening of Hotel Transylvania at 7 pm. Trick-or-treating, games and other activities are just a sampling of the fun that the Village of Palmetto Bay has in store for its residents for Halloween. Children and adults dressed in costume will be automatically eligible to receive a raffle ticket to win ghoulishly.

 

To learn more about real estate in South Miami, Coral Gables, Coconut Grove, Pinecrest and Palmetto Bay, contact Val Byrne at val@valbyrnerealtor.com or at 305-323-6231. Val Byrne – Working For You!

Miami Home Prices Up 10.5% in August!

That was tucked away on page 3 of the Business Section in the Miami Herald today (had it been bad news it would have been plastered across the front page!). That 10.5% increase is reflective of the Miami real estate market since August 2013.

I have been selling residential real estate in Miami for 20 years: specializing in Coral Gables, Coconut Grove, South Miami, Pinecrest, and Palmetto Bay. I know that real estate statistics should be looked at neighborhood by neighborhood; it is neither possible nor fair to ‘blanket’ a percentage across an entire town, especially one as diverse as ours. In some areas the prices have far exceeded a 10.5% increase!

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3551 Main Highway, Coconut Grove, FL | List Price: $65,000,000

Let’s look at the single family home markets from August 2013 through August 2014 in the wonderful communities I spend most of my time in.  Although Coral Gables had a small slip in sales price this past August, it has generally seen more than a 30% increase over the year, and the sales prices in Pinecrest have had a similar increase! The sales prices in Coconut Grove look like they have been taking steroids (wait until the most expensive luxury/waterfront home listed in Miami sells).

There have been months with really strong price increases in Palmetto Bay, but over the year the prices averaged about a 10% gain.  In South Miami, where I live, love, and have sold over 100 homes it looks like we’ve had significant decreases in sales prices but the truth is South Miami has such disparity in the price ranges of the properties and neighborhoods that the numbers can look very skewed.  In the more expensive neighborhoods there is hardly any inventory, but over the next 6-12 months there will be so many newly constructed homes coming on the market and closing in the $2mil+ market that we will see a very strong price increase.

 

Coral Gables

Coral Gables

Coconut Grove

Coconut Grove

South Miami

South Miami

Pinecrest

Pinecrest

Palmetto Bay

Palmetto Bay

To learn more about real estate in South Miami, Coral Gables, Coconut Grove, Pinecrest and Palmetto Bay, contact Val Byrne at val@valbyrnerealtor.com or at 305-323-6231. Val Byrne – Working For You!

No Plans for 4th of July? I Can Help!

fourth-of-july

This time of year always seems to sneak up on us! Miami is filled with beautiful venues to enjoy activities as we celebrate our independence in this great country. Although there are tons of options to choose from, I have three favorite spots where I like to enjoy this holiday with family and friends. First and foremost is Key Biscayne, this year celebrating its 55th July 4th parade at 11AM; local bands and homemade floats will parade down Crandon Boulevard with a large picnic held at the Village Green afterward. The Key Biscayne crew sets off a fantastic show of fireworks later in the evening; locals crowd the beach with their blankets and picnic baskets. If you are closer to the Coconut Grove/Coral Gables area and don’t feel like driving all the way to ‘the Key’, you can join thousands on the lawn of the Biltmore Hotel for their annual Coral Gables’ Fourth of July celebration. The event begins at 5PM with a concert at 7PM and a flawless show of fireworks following. If you’re feeling a bit more adventurous, head to 73rd and Collins Avenue on Miami Beach where they will be having live music and activities going on beginning at 2PM with their own fireworks show in the evening around 9PM.

KeyBiscayneJuly4

Miss Universe Celebrating July 4th at the Key Biscayne Parade in 1985!

If you lived at Cloisters on the Bay in coconut Grove, or Deering Bay in Coral Gables you would be able to watch spectacular fireworks shower over the Bay. If you are interested in being able to enjoy July 4th just steps away from your home next year, contact me about my listings in both communities!

Villa 1137 Cloisters on the Bay

Cloisters on the Bay Villa

Deering Bay Villa

Deering Bay Villa

 

 

 

 

 

 

 

To learn more about real estate in South Miami, Coral Gables, Coconut Grove, Pinecrest and Palmetto Bay, contact Val Byrne at val@valbyrnerealtor.com or at 305-323-6231. Val Byrne – Working For You!

Just Listed For Rent in Village of Palmetto Bay 13940 SW 73rd Avenue

Exterior Front

The most discerning rental prospects will appreciate this beautifully updated home in north Palmetto Bay, only two blocks off Howard Drive, on a quiet, no traffic street.   It’s a sun-filled charmer recently renovated by current owners; located on a quiet no-traffic street, in a phenomenal neighborhood.

Dade County’s finest public and private schools are minutes away (Howard Drive Elementary, Palmetto Middle School and Palmetto Senior High School public school district). Parks, shopping, and the best restaurants are at your fingertips!

Property Details:

 • 4 Bedrooms / 2 Baths

• 3,330 Adj. Square Feet

 • List Price: $4,900/month

 • www.13940SW73.com

To learn more about real estate in South Miami, Coral Gables, Coconut Grove, Pinecrest and Palmetto Bay, contact Val Byrne at val@valbyrnerealtor.com or at 305-323-6231. Val Byrne – Working For You!

What About Those “Diamonds in the Rough”?

Sometimes realtors describe a property as being a “diamond in the rough”; or maybe “a gem that needs polishing”; or a house that has “good bones”. The current buzz phrase is “classic mid-century”, which when translated often means a home built in the 1940’s-1960’s that may or may not have updates.

"BEFORE"   5900 SW 83rd STREET

“BEFORE” 5900 SW 83rd STREET

Some of those homes can be fabulous! Sure it takes time, money, and energy but many find it so rewarding! The markets that I specialize in: South Miami, Coral Gables, Coconut Grove, Pinecrest, & Palmetto Bay are low in ‘turn-key’ inventory, especially in the $500,000 – $1,250,000 range, so now might be the time to consider those properties which need some TLC!

"After"   5900 SW 83rd STREET

“AFTER” 5900 SW 83rd STREET

Try and separate the cosmetics from the fundamentals!  First and most importantly,  is the property in a neighborhood you desire? Does the property have the needed space, both inside and out? If not, can space be added? Is there good light? Is there room for a pool if you want to add one later? If the fundamentals are there, maybe you consider the ‘labor of love’route!

I recently sold the two homes in South Miami to Buyers who would have preferred ‘turnkey’, but they didn’t exist at the time or were unaffordable. Thank goodness they had vision! Both families are so happy with their decisions, and I have great neighbors!

 

To learn more about real estate in South Miami, Coral Gables, Coconut Grove, Pinecrest and Palmetto Bay, contact Val Byrne at val@valbyrnerealtor.com or at 305-323-6231. Val Byrne – Working For You!

Miami’s Rental Market Madness!

In my 20-year real estate career in Coral Gables, Coconut Grove, South Miami, Pinecrest, Palmetto Bay, and the Brickell corridor I have NEVER seen so many for rent illustrationpeople looking to rent.  I’m predominantly a Buying and a Selling Agent in Miami’s luxury home market, but I’m well versed in the local rental market, and typically have 5-10 rental transactions per year.  That is until this year:  I’ve had 10 rental transactions and 5 current prospects, and it’s only April.  I’ve been preparing Leases from $2,000/month to $20,000/month, and I don’t see a slowdown. I’m finding this month that it will cost at least $2 per square foot to get a decently clean, updated single family home with a pool, and in Coral Gables many will have to pay that and skip the pool!

15 rental transactions in four months is so far out of the norm for me that I decided to stop and look at my own stats, as well as a those where I have been renting: Coral Gables, South Miami & High Pines, Palmetto Bay, Pinecrest, and Brickell.  Glaring at me are the number of new-comers to Miami just in my own chamber of business.  There are 10 renters from out-of-state that have moved for job reasons (5 of them physicians); all wanted to rent and scout before buying.  Only 1 is from out-of-the country which confirms what we already know: the “foreign investor” knows Miami is a safe bet; no need to rent and no time to fool around – prices are going up.   The remaining folks are locals renting while they build their new home or are in-between homes; and my favorite renters are an 88 and 95-year old married couple: they wanted a more simple, maintenance free lifestyle so they could relax (me too!).

 

Comparing Price PSF in Coral Gables, 2012-2014

Comparing Price Per Square Foot in Coral Gables, 2012-2014, For Properties Starting At $2,500/month, Minimum 3 Bedroom

Comparing Price Per Square Foot In Pinecrest, 2012-2014, For Properties Starting At $2,500/month, Minimum 3 Bedrooms.

Comparing Price Per Square Foot In Pinecrest, 2012-2014, For Properties Starting At $2,500/month, Minimum 3 Bedrooms.

Comparing Price Per Square Foot In South Miami, 2012-2014, For Properties Starting At $2,500/month, Minimum 3 Bedrooms

Comparing Price Per Square Foot In South Miami, 2012-2014, For Properties Starting At $2,500/month, Minimum 3 Bedrooms

Comparing Price Per Square Foot in Coconut Grove, 2012-2014 for Minimum 3 Bedrooms, $2,550/month and Higher

Comparing Price Per Square Foot In Coconut Grove, 2012-2014, For Properties Starting At $2,500/month, Minimum 3 bedrooms

And the Real Estate Forecast Continues to be Sunny Skies……

 

Ron Shuffield, President and genius data cruncher at EWM Realty International delivered our spring outlook last week and the forecast is SUNNY!  Watch this quick video to hear it for yourself, but in a nut shell Ron summarized the last three years of real estate sales in Dade County (2011-2013) as being record breakers.  Each year the number of sales of single family homes and condominiums exceeded the prior year, and these were double digit increases!

 

 

Ron expects to maintain high levels of sales in 2014.  Our indicator of future sales is the amount of inventory of properties for sale, more specifically,  the ‘number of months’ of inventory available. In Dade County we have about 5-6 months of supply right now, which Ron believes is a healthy amount.  In my 20 years selling homes in Coral Gables, Coconut Grove, South Miami, Palmetto Bay, and Pinecrest, I find that a little on the low side, and with that trend prices usually increase.  As Ron says in the video, it is very “neighborhood specific”.

South Miami Number of Homes For Sale & Sold in the past year 1mil - 2milSouth Miami Number of Homes For Sale & Sold in the past year 500,000-1mil

I’m working with a lot of Buyers looking for homes in South Miami, Coral Gables,
and Coconut Grove in the $650,000-$1,000,000 range, and there are very few options out there.  In South Miami alone there is
very little, and even if we stretch budgets up over $1,000,000 the same holds true.

Buyers need to be working realtors who know the market, and know the minute a new home comes on the market. That’s what it often boils down to –  seeing a home and making an offer on day ONE.  Best news in Ron’s spring forecast is that our prices are generally still 35%-40% less than they were at the peak of 2007, and so there are still tremendous values in Miami.

 

To learn more about real estate in South Miami, Coral Gables, Coconut Grove, Pinecrest and Palmetto Bay, contact Val Byrne at val@valbyrnerealtor.com or at 305-323-6231. Val Byrne – Working For You!

Thinking About Moving ‘One Last Time’?

 

empty nesterIf you’re thinking about  your retirement or near-retirement years I hope an ELEVATOR is in your thoughts!   I’ve had an onslaught of clients moving out of the Big house with the Big yard and Big maintenance, and opting for comfortable and easy.  These scrutinizing folks want space (#1 request) and high-end appointments (tied for #1), and this often comes in the form of vertical living!

Lesson 1: You never anticipate or prepare for knee and hip surgeries.  Lesson 2: Most master bedrooms in 2-story residences are upstairs! No matter if you are looking at South Miami, Coral Gables, Coconut Grove,  Pinecrest, Palmetto Bay, or the Ponce & Davis corridors, these ‘empty nester’ residences are often going to have 2 floors, so you have to imagine going up and down the stairs when it’s not going to be so easy!  Is there enough space in the staircase to accommodate a chair lift? Even better, is there an elevator?  If the thought of using an elevator turns your nose up now, just use it for storage while those hips and knees are cooperating. They make great closets!crutches

I have a beautiful home for sale in the Ponce Estates area (adjacent to Coral Gables, Coconut Grove, and South Miami) that has it all: lots of space (4,000sf), lovely appointments, and an ELEVATOR!!!  It’s the baby boomer’s luxury.

48th ct

7830 SW 48th Court
4 Bedrooms / 4 Bathrooms
List Price: $1.549,000

To learn more about real estate in South Miami, Coral Gables, Coconut Grove, Pinecrest and Palmetto Bay, contact Val Byrne at val@valbyrnerealtor.com or at 305-323-6231. Val Byrne – Working For You!

EWM #1 in Sales Over $1,000,000!

No one sold more properties over $1,000,000 in Miami-Dade County in 2013 than EWM Realty International.  EWM agents sold 420 single family homes and condominiums in that price range last year, and that was 26% more than our next closest competitor (who sold 334 properties in that same price range)!

420

Releasing that information made me want to look back a few years at the prices in Dade County!  In January,  2003 the average price per square foot of a property priced over $1,000,000 in Dade County was $375.  When the market “peaked” in that 2007ish period the average price per square foot was in the $550-$600 range.  By mid-July, 2013, we were looking at about $625 per square foot, and by the end of the year we were in the $650ish price per square foot.  As we settle into 2014 I will be keeping my blog updated with facts and trends,  especially in Coral Gables, Coconut Grove, South Miami, Pinecrest, Palmetto Bay, and the Ponce/Road corridors, where I specialize in luxury real estate, both for sale and for rent. 

The Last 10 Years In Luxury Real Estate Sales
($1,000,000 and over)

 To learn more about real estate in South Miami, Coral Gables, Coconut Grove, Pinecrest and Palmetto Bay, contact Val Byrne at val@valbyrnerealtor.com or at 305-323-6231. Val Byrne – Working For You!

Are You An Unmarried Couple Thinking About Buying A Home?

I’ve worked with unmarried couples that decided to purchase and settle before marrying; and I’ve worked with couples that will not be marrying – not in the State of Florida, anyway. 

The Miami Herald published a great article last week on this topic. If you are thinking about buying a home with a significant other you should read it!  There are 6 tips that are invaluable:

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1) SWAP FINANCIAL HISTORY

Know about each other’s student loans, credit card debt, retirement accounts, etc.

 

 

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2)  AGREE ON WHAT YOU CAN AFFORD

Determine what each person can (and cannot) contribute.

 

 

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3)  SIGN A CONTRACT

And this is not referring to a Sales Contract! Enlist an attorney and draw up a contract before you buy a property outlining contributing amounts, equity amounts, rights of survivorship, and the unthinkable: what if the relationship dissolves.

 

Real estate

 

4) UNDERSTAND OWNERSHIP OPTIONS

Joint Tenants vs. Tenants in Common

 

 

Quit-Claim-Deed-Tax-Implications-Selling-House-with-Multiple-Owners

 

5)  REVIEW TAX IMPLICATIONS

 

 

 

Wedding_rings

 

6)  RESET WEDDING EXPECTATIONS

The author suggests there might not be enough money left over for a wedding after purchasing a home.  Hey, wait till you have kids!

 

 

To learn more about real estate in South Miami, Coral Gables, Coconut Grove, Pinecrest and Palmetto Bay, contact Val Byrne at val@valbyrnerealtor.com or by phone at 305-323-6231. Val Byrne – Working For You!