Palmetto Bay, FL Real Estate News

By Lynn Cromer
(ReMax Advance Realty)
Earth Day is tomorrow, April 22, 2009. Earth Day was established in 1970 as a celebration intended to inspire awareness of and appreciation for the Earth's environment. Many countries have since decided that a global observance was needed; therefore, April 22 is recognized each year. In 2009, hundreds of millions of people in more than 180 countries are expected to participate in Earth Day activities. Here are some of the Earth Week celebrations in Palmetto Bay: The week started with a kayak and canoe tour of Biscayne Bay on Saturday, April 18th  sponsored & led by volunteers from the Tropical Audubon Society. Also on Saturday, a Biscayne Bay clean-up project, known as Baynanza occurred throughout Miami-Dade County.  In Palmetto Bay, the cleanup was at the Deering Estate (16701 SW 72 Av...
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By Lynn Cromer
(ReMax Advance Realty)
Palmetto Bay Real Estate Market Report Palmetto Bay will be broken down into North Palmetto Bay (SW 136 St to SW 168 St) and South Palmetto Bay (SW 168 St to SW 184 St). North Palmetto Bay: There are currently 128 homes for sale in North Palmetto Bay. Highest priced listing is $2,700,000 (6921 SW 144 St) Lowest priced listing is $220,000 (short sale at 16641 SW 92 Ave) Pending sales: 14 Closed sales in Last 3 months: 6 (highest sale at $663,000 at 8447 SW 138 Terr & the lowest sale was bank-owned at $155,000 at 15601 SW 90 Ave) There are 28 short sales and 14 bank-owned homes in North Palmetto Bay. Palmetto Bay has quite a bit more bank-owned/short sales than Pinecrest. The average list square foot price is $201 while the average sold square foot price was $153. The average days on the ...
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By Maggie Dokic | Miami, FL | 888.883.8509 X101, GREEN, CDPE, SFR, Pinecrest | Palmetto Bay |
(eXp Realty LLC)
Have you been looking at foreclosures in Palmetto Bay? Here's the latest home listings in the foreclosure sector. Palmetto Bay foreclosures are a great way to get a good deal on a home in the area. Of course, inspections are in order, as in any home purchase. Just because you're buying AS IS, as most foreclosures are sold, doesn't mean you can't perform an inspection. As of today there are 228 single family homes for sale in Palmetto Bay. Of those, 21 are foreclosures. Of those 21, I am providing a link to the 16 that I feel represent the best value. Click on the picture below for more details. This is a live link, which means that as soon as information is updated on the multiple listing service, you will see the updates here also. That includes the addition of pictures if there are no...
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By Maggie Dokic | Miami, FL | 888.883.8509 X101, GREEN, CDPE, SFR, Pinecrest | Palmetto Bay |
(eXp Realty LLC)
Are you looking for a home in Palmetto Bay?  Here's a snapshot of what the market is doing lately. The Absorption Rate is something we real estate agents use to determine how active the market is.  We look at the homes sold in the last 12 months and figure out the average per month.  Then we look at how many homes are available right now and divide that by the average # of homes sold per month.  The resulting number is known as the Absorption Rate and it tells us how many months it would take to sell all the available homes if sales continued at the present pace.  A normal market has an Absorption Rate of about 6 - 10.  A smaller number signals a seller's market and a higher number signals a buyer's market.  Palmetto Bay is definitely a buyer's market right now.  But it is interesting t...
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By Lynn Cromer
(ReMax Advance Realty)
Absorption rate of homes in Palmetto Bay, Florida Understanding how the inventory of homes on the market affects the sale prices of those homes, in the purpose of this post. The longer the absorption rate, the longer it takes for a home to sell. This in turns translates to a downward trend on pricing. The formula is the same for any marketplace. Number of Homes Currently on the market ÷ The Average Number of Homes Sold each month in the past 12 Months. In Palmetto Bay, Florida the statistics are as follows:   251 homes on the market & 181 sold homes. 181 sold homes ÷ 12 months = 15 homes sold per month 251 home on market ÷ 15 sales per month = 16 months supply of inventory How well do you think your marketplace is holding up in this current climate? Keep checking back as I will be break...
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By Maria Borci, P.A., TRC, REO - Doral Pinecrest FL Real Esta
(Colfax Realty Group)
Today, President Bush signed the recently-passed housing legislation (H.R. 3221) into a law.  The new first-time homebuyer tax credit goes into effect immediately.  This credit is intended to convert  prospective buyers  into new Homeowners.  This will  be of great benefit to Realtors, their clients and to communities.  The chart presented below outlines the basic features of the new credit.  The Research Department is also preparing a brochure that REALTORS® can provide their clients.  The guidelines here will help Realtors guide their Clients through these new provisions.     Amount of Credit Ten percent of cost of home, not to exceed $7500 Eligible Property Any single‐family residence (including condos, co‐ops) that will be used as a principal residence. Refundable Yes. Reduces incom...
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By Maria Vargos
(CAM Inc.)
  Palmetto Bay in Miami-Dade, Florida is a great place to do real estate in.  The property values are primarily at a reasonable price and the city is beautiful.  I manage three properties here and also show homes in most of the areas.  I often reccomend this area to many of my clients.  Great place for families to relocate.
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By Maria Vargos
(CAM Inc.)
 I looking for a community in the city of Palmetto Bay, Miami-Dade County, Florida, with homes ranging from 150,000-200,00 about 10 miles away from I-75.  I've found more further away from the interstate ranging in this price range, but it's been difficult to find any in this location and price range. This area is beautiful coastal community.  If anyone knows of any areas that would be anywhere close to fitting this criteria please let me know.  
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By Maggie Dokic | Miami, FL | 888.883.8509 X101, GREEN, CDPE, SFR, Pinecrest | Palmetto Bay |
(eXp Realty LLC)
To provide hyper local market data, I am presenting this market report for the Village of Palmetto Bay, zip code 33158 specifically. The trend here looks a lot better than the county's for the same period.  Yes, the For Sale far outnumber the Sold, but that all important Months Of Inventory number is a lot healthier here than in the county numbers.                                            And in stark comparison to the county numbers, look at the Months Of Inventory in Palmetto Bay zip code 33158:                                             The Months Of Inventory for November is 20.7, or almost a third of the county's 57.3 for the same period.  This represents a much more balanced market in Palmetto Bay than the county as a whole.  And while 20 months' worth of inventory is far from ...
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By Maggie Dokic | Miami, FL | 888.883.8509 X101, GREEN, CDPE, SFR, Pinecrest | Palmetto Bay |
(eXp Realty LLC)
After two years of waiting, the doggie park in Palmetto Bay finally opened on Saturday, Nov. 17th. We stopped by in the afternoon and there were quite a few people there with their four-legged friends. It was nice to see that the pooches could run around freely. There's a lake in the center of the park where they can swim if they want to. There's also penned areas for small dogs and large dogs to play in, respectively.  This is real nice for the smaller dogs who may not be too keen about having monster big dogs chasing them around the park.  LOL There's plenty of places to sit if you get tired of playing frisbee with Fido. And if Fido gets thirsty, he has a water fountain where he can quench his thirst! Palmetto Bay residents were happy to see this park finally open. The park is on 164 ...
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By Maggie Dokic | Miami, FL | 888.883.8509 X101, GREEN, CDPE, SFR, Pinecrest | Palmetto Bay |
(eXp Realty LLC)
I read this nbc6.net article the other day and can go along with most of what’s being said. I have to take issue with one small item there though. Zip code 33157 is touted as being Palmetto Bay and while a part of Palmetto Bay is certainly in zip code 33157, 33157 also encompasses parts of Cutler Bay as well as Miami. This minor detail will make a difference in the way Palmetto Bay listings are viewed. The article states that there are 758 listings in 33157 which is Palmetto Bay. While there are 758 listings in 33157, only 197 of those are in Palmetto Bay. The rest are in Cutler Bay and Miami. As a matter of fact, the entire Village of Palmetto Bay has only 254 single family homes listed for sale at this very moment, which is considerably less than the 758 attributed in the article. I’m...
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By Philippe Diener
(Brown Harris Stevens)
Philippe Diener | Avant Realty International | +1-786-554-3085 VILLAGE OF PALMETTO BAY HOMES REAL ESTATE 16930 SW 74th Ct. Miami, FL. 33157 Amazing Palmetto Bay Home For Sale 5 Bed 4 Bath - M1183921 Offered at $ 1,075,000 Year Built 2000 Sq Footage 3,835 Bedrooms 5 Bathrooms 4 Floors 1 Parking 2 car-garage Lot Size 15,050 Pool Yes DESCRIPTION NEW LISTING! ELEGANT MEDITERRANEAN W/EXQUISITE HUNTER DOUGLAS FINISHES. GALLERY FOYER WITH VAULTED CEILINGS. VOLUME CEILINGS IN MAIN AREAS. FORMAL DINING ROOM. LARGE LIVING ROOM AND FAMILY ROOM WITH COVERED TERRACE. 8FT FRENCH DOORS. ROMANTIC POOL SETTING WITH WATERFALL. DESIGNER CROWN MOLDINGS. ALARM & SMOKE DETECTORS. GRANITE COUNTER TOP KITCHEN WITH EUROPEAN CABINETRY. MARBLE, CERAMIC AND OAK FLOORS. CHICAGO BRICK DRIVEWAY ON CUL-DE-SAC. HURRIC...
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By Maggie Dokic | Miami, FL | 888.883.8509 X101, GREEN, CDPE, SFR, Pinecrest | Palmetto Bay |
(eXp Realty LLC)
People are ticked off. They're angry over the resolution passed by Palmetto Bay commissioners charging the public a fee for using Coral Reef Park.The resolution passed last month and parents lost no time letting Palmetto Bay Mayor Eugine Flinn Jr. and the commissioners know how they felt about it.Palmetto Bay now charges organizations that use the park a $15 user fee per member per season. Use of the park used to be free.There are many youth organizations and sports leagues that use Coral Reef Park. One such group is Pop Warner Football and Cheerleading. They're a non-profit group that has used the park for the last 4 decades.Critics of the resolution argue that funding for use of the park is already in place in the form of property taxes. With the new fee they are, in essence, paying ...
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By Maggie Dokic | Miami, FL | 888.883.8509 X101, GREEN, CDPE, SFR, Pinecrest | Palmetto Bay |
(eXp Realty LLC)
If you're looking to buy or sell a home in Palmetto Bay the following numbers will interest you.  They represent the homes sold and available for sale in Palmetto Bay. The first line of data is the total.  If you look beneath that you will see a breakdown by price ranges. When the entire county of Miami-Dade has enough inventory to last us at least four years, it's nice to see that the real estate numbers in Palmetto Bay are much healthier, in some cases as little as ten month's worth of inventory.  While ten months is still considered a Buyer's Market, it is substantially better than 4 1/2 years worth of inventory, as is the number for Miami-Dade County as a whole. It's interesting to note that neither the lower-priced homes nor the extreme top of the luxury homes are doing the best, a...
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By Maggie Dokic | Miami, FL | 888.883.8509 X101, GREEN, CDPE, SFR, Pinecrest | Palmetto Bay |
(eXp Realty LLC)
Looking for something fun to do in Palmetto Bay on a Saturday night?  Look no more.  Not only is this fun, it's also FREE.  Sure beats the movies at $9 a pop. The Southern Cross Astronomical Society has been bringing astronomy to us since 1922.  They meet each Saturday night at the Bill Sadowski Nature Preserve in Palmetto Bay from 8 - 10PM.  Their volunteers do this for fun.  We're lucky! I took the kids there this past weekend.  We checked the weather and headed out.  When we arrived at the park, the gates were open (they're usually locked at this time) so I was pretty sure they were there in spite of the rain that had been threatening all day. As we turned into the park I turned my lights off.  My youngest reminded me that I shouldn't be driving at night without my lights on.  I expl...
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By Maggie Dokic | Miami, FL | 888.883.8509 X101, GREEN, CDPE, SFR, Pinecrest | Palmetto Bay |
(eXp Realty LLC)
Palmetto Bay has excellent schools available to it's residents.  The public schools in the district consistently earn A's and are one of the reasons many flock to Palmetto Bay.  The private schools are well-respected throught the county and beyond. Below is a list of schools in Palmetto Bay or servicing the Palmetto Bay disctrict:   Elementary Schools - Public Coral Reef Elementary 7955 SW 152 StreetPalmetto Bay, FL 33157 Howard Drive Elementary7750 SW 136 StreetPalmetto Bay, FL 33156 Perrine Elementary8851 SW 168 StreetPalmetto Bay, FL 33157   Middle Schools - Public Southwood Middle16301 SW 80 AvenuePalmetto Bay, FL 33157   High Schools - Public Miami Palmetto Senior H.S.7460 SW 118 StreetPinecrest, FL 33156   Private Schools   Alexander Montessori SchoolToddler to Age Six17800 Old Cu...
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By Maggie Dokic | Miami, FL | 888.883.8509 X101, GREEN, CDPE, SFR, Pinecrest | Palmetto Bay |
(eXp Realty LLC)
When I moved to South Florida in 2001, what is now known as Palmetto Bay was another section of Miami.  While some old timers still refer to it as Perrine, the official mailing address was Miami, Florida.  No more.  The Village of Palmetto Bay incorporated on September 10, 2002 and is alive and well today. I like visuals and I think most people do too.  Here's a map to place yourself.  Palmetto Bay is outlined in red.  The North border is SW 136th Street (The Falls Shopping Center is directly across US 1 at this point).  The South border is SW 184th Street, also known as Eureka Drive.  The West boundary is US 1 (South Dixie Highway).  And over on the East, is Biscayne Bay, the glorious water!  Doesn't that water look pretty?  It looks even better from the ground.  Come see for yourself!...
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By Maggie Dokic | Miami, FL | 888.883.8509 X101, GREEN, CDPE, SFR, Pinecrest | Palmetto Bay |
(eXp Realty LLC)
The Bill Sadowski Nature Preserve in Palmetto Bay is the only greenspace of its kind in the area.  It has three distinct habitats within its compound: pineland; tropical hardwood hammock; and a drained everglades slough.  It is roughly 30 acres in size and is open from sunup to sundown, although if you're driving there, the car gates are open only from 10:00AM - 5:00PM. As you drive into the park you'll notice monkey bars and nice, soft sand for the little ones to the right.  Keep driving into the parking area and you'll see the campfire ring with built-in benches.  A lot of groups have held scary storytelling around the fire here. In the main building there are live animal exhibits.  Here you'll find mostly fish and turtles, all species that live in the surrounding canals.  The park ma...
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By Maggie Dokic | Miami, FL | 888.883.8509 X101, GREEN, CDPE, SFR, Pinecrest | Palmetto Bay |
(eXp Realty LLC)
                      When I first moved to South Florida I fell in love with the trees here.  The different varieties of palm trees are hard to keep up with.  The Royal Poinciana is another favorite.  But the Banyan tree captivates me. Banyan trees can be found throughout South Florida.  They are quite impressive.  If you take a drive on Old Cutler Road starting in Palmetto Bay and heading north to Coral Gables, you'll see many of them.  Their canopies can extend clear across the street.  But it's their trunks that mesmerize.  There's something primitive about them.  They always make me look and wonder. I'm not quite sure what I wonder about when I look, but time seems to stand still when I'm around the Banyan. I researched the Banyan shortly after arriving here and was surprised with...
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By Maggie Dokic | Miami, FL | 888.883.8509 X101, GREEN, CDPE, SFR, Pinecrest | Palmetto Bay |
(eXp Realty LLC)
Palmetto Bay has earned itself the nickname the Village of Parks.  The following parks make up the parks system in Palmetto Bay: Deering Estate at Cutler - 16701 SW 72 Avenue.  Follow Old Cutler Road to 168th Street where you'll see signs to this exquisite, unforgettable experience.  The rustle of the palms, lapping bay water and songs of the birds will take you back to gentler times in south Florida.  And to think people actually lived in this paradise.  Not to be missed. Bill Sadowski Nature Preserve - 17555 SW 79 Avenue.  Just drive on 176 Street and east of 79th Avenue you'll see the entrance to the park.  To the South of 176th Street lies about half of the total 30 acres, but that area is not trekkable.  The walking trail is to the North.  This preserve is the only facility of it's...
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