It may not be a glorious triumph over this bad economy, but its a start! According to FloridaRealtors.org, existing condo sales in Florida rose by 15% in the third quarter. This is great news for those still waiting to sell their condo, as they may see this as a good chance that the condo they have had on the market for over a year might be close to being sold. However, as with all good things there sometimes comes the bad. The price of these condos actually dropped since 2009 by 21%. In 2009 condos selling for $106,000 now sell for $84,000. But alas, we should always look on the bright side. Closing more sales leads to better market conditions, happy sellers, happy buyers (really happy buyers!), and a happy realtor. It is best not to dwell on the negatives because although the market i... 11/11/2010

IPhone fans are waiting for the launch with Verizon Wireless as a second choice for carriers other than the exclusivity of AT&T. While there are not too many details on the matter such as specific release date, price tag or monthly plans, the one thing that is certain is that the Iphone would arrive at Verizon too next year. Tthe deal was already confirmed, even if nothing went official until now. It appears that Verizon might have had the chance to carry the Iphone ever since day one, but it turned down Apple because of Mac maker's tight policy on its iconic device.Verizon turned down the offer mainly because “Apple and CEO Steve Jobs wanted too much control over how and where the devices would be sold - and too big a cut of the monthly service fees.However, following the release of th... 10/29/2010

This weekend was the 2nd Annual Edible Garden Festival at Fairchild Tropical Botanic Garden which was sponsored by Whole Foods (which is my favorite place to shop). There was a terrific Scarecrow Contest. Here are some of the scarecrows featured!                                             This Festival is a celebration of the delicious fruits, vegetables and herbs grown in our homes and community gardens throughout South Florida. As I blogged about in Organic Gardening in Palmetto Bay, our growing season is now upon us and we have many opportunities to buy local fruits and veggies as well through our Farmer's Markets. Chef Norman Van Aken and his wife and son Justin were preparing foods for us!                                              I am finding that gardening in my backyard give... 10/24/2010

Sometimes by heading outside your search area a little bit you may find a home that perfectly suits your needs.  Deering Bay is further south than other Coral Gables communities however their estate homes are worth viewing if you haven't been able to find new construction in the $1,500,000 to $2,500,000 range elsewhere.   The estate homes in Deering Bay have great amentities such as a manned 24 hour guard gate, beach access, golf and bay views, tennis courts, Arnold Palmer golf course, fitness center, dock spaces plus much more.  There are maintenance fees that apply.  To view a list of single family homes in Deering Bay Estates please click here. If you are interested in buying, selling, building or renting and are looking for a real estate agent who specializes in Coral Gables, pleas... 10/13/2010

President Obama visited Alonzo Mourning's house (photo above) last night in Gables Estates for a fundraising event   If you were out on the roads yesterday you probably got stuck in some the traffic closures.    Mourning purchased the property in November of 2005 for $12,700,000 and he recently placed it on the market for $14,500,000.   His home features over 13,000 square feet of living space on a 35,000 square foot lot with 8 bedrooms, 8 baths and breathtaking views of Biscayne Bay.   The home is listed by Coldwell Banker. If you are interested in buying, selling, building or renting in Coral Gables and are looking for a real estate agent who specializes in the area, please feel free to contact me at 305.342.1623 or send me a note here. To view this post in its original form, click h... 10/12/2010

When I first heard about the Reverse Mortgage, or Home Equity Conversion Mortgage (HECM), I only learned negative things about the program. I later came to realize that these were all myths or misunderstandings about the way the program used to work. Today, lenders and mortgage companies who offer the Reverse Mortgage are highly regulated by the federal government's lending and housing arms, the Federal Housing Administration (FHA) & the US Department of Housing and Urban Development (HUD). This loan is also insured by FHA, protecting the current homeowners as well as their heirs. There are only two upfront costs, if any. The first is your HECM Counseling, which is usually given over the phone by a third party FHA approved counseling company. Offering an unbiased explanation of the prog... 09/27/2010

We had such a great response from our Golden Triangle post yesterday that we wanted to do a follow-up with The Platinum Triangle of Coral Gables.  Keep in mind that these designations are not clear cut on any map but rather a word of mouth type label.  You could ask 25 realtors what the exact boundaries are, and you may get 25 different responses.  But we do know that the general area of The Platinum Triangle is bordered by Sunset Drive on the north, Davis Road to the south, Erwin Road to the west and Old Cutler Drive to the east.   Not exactly a triangle, but the "Platinum Quadrangle" doesn't have the same ring to it. Does the Platinum Triangle garner the same prestige as The Golden Triangle? Not according to my estimates.  While there is some increase in value for these homes it does... 09/23/2010

You can adquire a wonderful property today in Coral gables flagler at greatly reduced prices. Who would have imagined that that property values in Coral Gables would be so low? An important number of the transactions are either foreclosures or short sales in Coral Gables. You have real opportunity to find your new home Coral gables flagler.   If you need a mortgage to buy your home in Coral gables flagler, then you should contact a local mortgage professional. There are a few mortgage brokers or banks locally in Coral gables flagler that know the area and properties. Real Estate is a local business. We recommend that you work with professionals that are doing transactions in Coral Gables. They know the area.   If you wish to start previewing some homes in Coral gables flagler contact ou... 09/22/2010

Looking to Buy in a property in Coral Gables., then you should consider Coral Gables. We are living at a moment in time that you can adquire properties at historic low price points. If you are looking or your personal use or for investment, there are homes and condos in Coral Gables that you can pick up at incredibly low prices.   If you need a mortgage to buy your home in Coral Gables, then you should contact a local mortgage professional. There are a few mortgage brokers or banks locally in Coral Gables that know the area and properties. Real Estate is a local business. We recommend that you work with professionals that are doing transactions in Coral Gables. They know the area.   Interinvestments Realty's website is one of the best online to search for properties. You can start doing... 09/22/2010

Today is a fantastic time to buy in Coral Bay. The real estate market has is given home buyers are fantastic opportunity in acquiring real estate in Coral Gables at a very low price. In real estate in many cases "timing is everything". Today you can buy the home of your dreams in Coral Gables for a fraction of the price.       If you need mortgage to purchase your property in Coral Bay, then you first step is contact your local Florida bank. It is much easier to obtain a mortgage of a single family home verses a condo. If you are in the market for a condo, then your lender needs to check which are the developments that are approved for Fannie Mae or FHA financing. If you do not have a Lender that you are working with, we have several that are actively working in the marketplace.     We ... 09/21/2010

Are you interested in purchasing real estate in Cocoplum? There are great looking properties at very attractive prices. Buying real estate today is much better that it was in 2005 or 2006! You have the time to pick and choose... Coral Gables is offering wonderful communities for you to consider and Cocoplum is one of them.   If you need a mortgage to purchase your property at Cocoplum you need to get pre-qualified, in addition the Bank needs to prequalify the development.. You can get this pre-qualification over the phone. Speak to your Florida bank that is familiar with Coral Gables. If you are a foreigner and you wish to obtain a mortgage, then we can refer you to a couple of lenders that specialize in financing to foreigners.  But again, make sure that they will finance a property in... 09/21/2010

  The Golden Triangle is located just east of The Biltmore Hotel and Golf Course.  It is an extremely desirable area of Coral Gables and the homes in this neighborhood tend to sell at a premium.  This year there have been roughly 9 sales in the Golden Triangle and there are currently 14 on the market (see map above).   To let you know just how alluring the Golden Triangle is for buyers take a look at this statistic: Homes in the Golden Triangle sell in an average of 45 days whereas homes in the rest of Coral Gables sell in an average of 149 days! To view a list of homes currently for sale in The Golden Triangle area of Coral Gables, click here. I know the numbers, I analyze the market, my clients make better decisions. If you are interested in buying, selling, building or renting in Cor... 09/21/2010

Are you interested in purchasing real estate in Coconut Grove? There are great looking properties at very attractive prices. Buying real estate today is much better that it was in 2005 or 2006! You have the time to pick and choose... Coral Gables is offering wonderful communities for you to consider and Coconut Grove is one of them.   If you need a mortgage to purchase your property at Coconut Grove you need to get pre-qualified, in addition the Bank needs to prequalify the development.. You can get this pre-qualification over the phone. Speak to your Florida bank that is familiar with Coral Gables. If you are a foreigner and you wish to obtain a mortgage, then we can refer you to a couple of lenders that specialize in financing to foreigners.  But again, make sure that they will financ... 09/20/2010

Now is great time to buy a property in Avignon In The Gables located in the city of Coral Gables. You can find distressed properties which are in foreclosure brand new or resales that offer terrific values. Coral Gables has a nice selection of lovely communities that offer condos, townhomes and single family homes.     If you will be financing the property that you are interested in buying. Don't be afraid and contact your local Florida bank and get pre-qualifed. That is the first step. Find a bank what is active giving loans in Coral Gables. Ideally find one that has done a mortgage in Avignon In The Gables recently. This is something that we can check for you on the MLS. Once you get prequalified, you will know what are your closing costs and what will be your montly mortgage payment.... 09/20/2010

In an ever changing market it is essential to continuously re-evaluate the price of your home.   I have a listing in Coral Gables that required a price reduction due to some recent closed sales that had brought its value down.  Once we were listed at the new price the home had a 100% increase in the number of showings and an agent has told us that we should be getting a contract from her clients today.  If you wait until your listing agreement is up to adjust your price you are only hurting yourself.  The average listing agreement is for 6 months and the market can change dramatically during that time.   If your house has been on the market for several months and you have not re-evaluated the price it is time to do so. If you are interested in buying, selling, building or renting in Cor... 09/20/2010

One thing is for sure, buyers are out there!  I was out with several groups over the weekend who are ready, willing and able to buy.   I currently have 6 of my listings under contract waiting to close and the number of showings at our current listings have greatly  increased.  So after all the doomsday news about real estate across the country, why is our market in Coconut Grove thriving? First, we live in a top destination for international buyers.  Second, mortgage rates are lower than many of us have seen in our lifetime.  Finally, buyers see value in our homes here in Coconut Grove.  Our waterfront community is full of history, character, charm and we are the first neighborhood south of downtown Miami.   All of these factors contribute to a healthy and stable market.  The number of ... 09/20/2010

Are you interested in Buying real estate in Coral Gables, Florida? Have you considered the development called Avignon In The Gables. You can find very nice deals in Avignon In The Gables. This is your chance to make purchase at a fantastic low price. The real estate market in 2005 - 2006 took a dive and it has taken 4 years to stabilize. In many developments / communities in Coral Gables prices at record lows, in some cases lower than what they have been for 10 - 15 years ago.     Are you going to buy with a Mortgage?.... Interest rates that are very very low. If you would like to obtain a mortgage, we recommend that you contact a local mortgage professional that knows the Avignon In The Gables market. We would be delighted to recommend a mortgage professional that can assist you. Pleas... 09/16/2010

The market in Cocoplum has been busy with 5 homes sold in the past 30 days.   Taking a look at the numbers, it brings the total closed sales in Cocoplum to 15 this year.  Below is a breakdown of these recent sales.  You will notice that one home sold for 16% off the list price which just goes to show you how unpredictable our market is right now. 151 Paloma Drive | List Price: $2,175,000 | Sale Price: $1,812,500 | SP/SF: $367.00 | Non-Waterfront 6910 Tulipan Court | List Price: $1,495,000 | Sale Price: $1,300,000 | SP/SF: $216.00 | Non-Waterfront 7250 Monaco Street | List Price: $1,750,000 | Sale Price: $1,450,000 | SP/SF: 286.00 | Non-Waterfront 200 Costanera Road | List Price: $3,990,000 | Sale Price: $3,300,000 | SP/SF: $419.00 | Waterfront 185 Los Pinos Court | List Price: $4,495,0... 09/16/2010

New Construction Market As A Whole The new construction market in Coral Gables has been slow in terms of closed sales and new properties coming on the market.  Out of the 290 homes to sell this year only 5 of them were new construction.   The $1,000,000 - $2,000,000 New Construction Market The segment of new construction homes that tends to be the most active are those priced between $1,000,000 and $2,000,000.    Of the 5 closed sales mentioned above, 4 of them were priced between $1,000,000 and $2,000,000. There have only been 4 new construction homes in the $1,000,000 to $2,000,000 price range to come on the market this year in Coral Gables.  That is an unfortunately low number for a segment of the market that is popular among buyers.  I was speaking with an agent of one of these hom... 09/16/2010

The average selling price during the past 60 days in Coral Gables has been $1,076,000 (median $639,000) with an average selling price per square foot of $287 (median $264).  The average days on the market for these homes was 150 days.  More than 50% of them made price reductions before they sold.  Below is a sample of these homes.  Visit my Coral Gables Real Estate blog for daily news and opinions on the Coral Gables Real Estate market.  To view this post in its original form, click here. 500 Arvida Parkway | Selling Price: $10,500,000 | Under Construction 17,000 square feet of living space on a 42,000 waterfront square foot lot | For more details, click here | Broker: Avatar 120 Sans Souci Drive | Selling Price: $1,100,000 | I wrote about this house when it first came on the market, it... 09/16/2010