We’re almost there…

March 26, 2009

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I have had a SERIOUSLY busy week. I think this just goes to show that this market is starting to turn around!

This week alone, three of my listings have gone under contract. We’re working several contracts on four additional listings (two with multiple offers) and have a buyer making an offer on another listing. 

Obviously my job is not done yet – inspections, appraisals and mortgage commitments remain huge hurdles. However, we’re well on our way!

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Reductions Galore!

March 25, 2009

In the spirit of my most recent post, I’ve had some incredible price reductions lately on my listings!

4711-university-dr-3916-cropped14711 University
$3,395,000 from $3,750,000
– Incredibly beautiful house on the Gables Waterway.
– Completely rebuilt with incredible finishes
– 6 bedrooms/5.5 baths/2 car-garage/pool/boathouse

jab-1300-campamento-front1300 Campamento Avenue
$2,795,000 from $2,995,000
– Waterfront home in Gables by the Sea
– Built by owner/builder for himself
– Featured on the cover of Florida Life Magazine!
– 5 bedrooms/4.5 baths/2 car garage/pool/guesthouse

dsc_04961170 San Pedro
$1,995,000 from $2,099,000
– Waterfront home in Gables by the Sea
– No bridges to the bay!
– 4 bedrooms/3 baths/2 car garage

 

jab-9905-sw-89-court-front9905 SW 89 Court
$1,950,000 from $2,195,000
– Stunning new construction home in Baptist Hospital area
– Most incredible kitchen you’ve ever seen
– 5 bedrooms/5.5 baths/2 car garage/pool/guesthouse

 

front-shot-lo-res7500 SW 53 Avenue – PENDING SALE!
$1,685,000 from $1,895,000
– Stately new construction home in High Pines
– Built by the Rousseau Hays Group
– 6 bedrooms/6.5 baths/2 car garage/pool

 

jab-8900-sw-61-court-ext18900 SW 61 Court – PENDING SALE!
$1,999,000 from $2,099,000
– Expansive home on an acre in North Pinecrest
– 6 bedrooms/5.5 baths/3-car-garage/pool

 
ginger-lo-res11123 Placetas Avenue – PENDING SALE!
$989,000 from $1,080,000
– Completely renovated home on nice street in Coral Gables
– 4 bedrooms/4 baths/1-car-garage/pool

 
509871_5001414 Algardi Avenue
$925,000 from $995,000
– Beautifully and tastefully updated home in Coral Gables
– 4 bedrooms/3 baths/2-car garage/pool

 

dsc_50843038 Orange Street
$585,000 from $639,000
– Center Coconut Grove townhome built in 2004
– 3 bedrooms/2.5 baths/1-car garage/pool

As they say, “price matters”!

March 23, 2009

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Now more than ever in real estate, price is the name of the game.

Friends of mine recently listed their house in Coral Gables with Elena Kemper and Libby Klein of EWM. The house has 4,000 square feet and sits on a 15,000 square foot lot. It’s been completely updated and is absolutely gorgeous. They priced it very aggressively at $999,995 (that’s $245.34 per square foot), and it sold WITHIN 3 DAYS of it being put on the market.

The question that keeps arising in this market is if we price it too close to where we believe it will sell, are buyers still going to want to negotiate it way down? So people are trying to price higher to leave room for negotiation, but people are losing buyers these days. Sellers are often pricing so high that people won’t make offers. Yet here’s a perfect example where they priced low, and it sold quickly, very close to the asking price.

ginger-lo-res

A beautiful listing I currently have at 1123 Placetas sat on the market for 41 days priced at $1,080,000. When we reduced it under $1 million to $989,000, which was a very fair and realistic price in this market, we had an offer and it went pending within 13 days. While this is still pending and we have to get to the closing table, it does truly show that price matters.

Buy! Buy! Buy!

March 17, 2009

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There is no denying – I am a realist. I’ll be the first to admit that we are in a terrible market right now. It’s likely that prices will continue to decline throughout this year. But here is the reality. We won’t know when the bottom has hit until we’ve already started to come out of it. So in actuality, there was never a better time than right now to buy a house, if you are planning to buy and live in it for at least two years. For the next two years, you can live in a new house, take advantage of the tax breaks that we receive as homeowners, receive an incredible interest rate on your mortgage (they are as low as 4.75%!) and be poised to take the rise in values that we will undoubtedly begin to see in the next few years. There has never been a better time to buy!

Also, keep this in mind. If prices go down by 10% but interest rates rise by 1%, the monthly payment stays the same. So any advantage you might receive by the loss in purchase price was just negated by the rise in interest rates.

Heaven on Earth

March 16, 2009

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I just listed this GORGEOUS piece of land in Snapper Creek Lakes with Karen McCammon (10250/10300 Lakeside Drive). Snapper Creek is one of the most beautiful communities in Coral Gables. It has a 24-hour guard gate and security patrol, a marina for homeowners, and is one of the only places in Miami that you see children playing in the street! The property is 2.66 lakefront acres of rolling hills and lush landscaping – you almost don’t feel like you’re in Miami.

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Pictured below is a drawing of the site plan that the current owners were considering building on the property. You can see how substantial this lot is and how the natural beauty and Zen of the property lend itself to a home that incorporates the beauty outside.

site-plan-drawing-lores1

Two separate folios allow two homes to be built on this special property. It is being offered for $9,500,000. If you would like a preview the property, please give me a call.

Hello world!

March 11, 2009
4711 University Drive
Welcome to my blog! I am excited to use this space to share with the world my thoughts and ideas about the real estate market in Miami. Here, you will find a journalistic approach to what’s going on in Miami, from the eyes and voice of someone who has been in the business for nearly 20 years. From opinions on interesting articles I read to analysis on the market, and from drastic price reductions to new properties of interest.

To begin, let me say that 2009 has already been a busy year for me. The A-List has been dissolved and I have gone back to my original business model which has proven successful for me. I have two assistants: my mother, Ginger Jackson, has been working with me for 10 years, and Lynley Walker Ciorobea has been a part of our team for 1½ years. Both licensed realtors, they help with all aspects of the business, especially marketing and advertising. They help to ensure that each of my clients gets our undivided attention.

In this most interesting and ever changing market, it is more critical than ever to have a Realtor that remains current and can help answer your questions with up to date knowledge. My commitment and dedication are unwavering and I will continue to work hard for each of my clients.

If you ever want to discuss the market with me, I would welcome the opportunity to talk over the phone or through email, and will look forward to helping guide and advise you through this most interesting and challenging time.

Visit my blog as often as you like – or you can even subscribe to it and receive my posts in your email inbox as I write them! Either way, I’m just excited to keep my dedicated friends and clients appraised of what is going on in the South Florida real estate market.