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Pinecrest

Palmetto Bay

Harvest Fest Coming Soon for Pinecrest and Palmetto Bay!

Halloween is here again and the Harvest Fest is a great way for the children to enjoy a safe and exciting alternative to Halloween.

There’s lots of fun to be had at the church including games, ponies, face painting, a dunk tank, cool rides and even a rock climbing wall. Plenty of great food and snacks will be available as well including burgers, hotdogs, chips, cotton candy, snow cones, candy, popcorn and more.

Children of all ages are sure to have a great time and admission is FREE to all. You can help by bringing one bag of candy per child and donations are always appreciated. Baked goods are also needed for the evening.

Come on out and bring the kiddies for a great family night together! Please, no scary costumes.

For more information or to volunteer please call JoyLand director Jan Moggio at (305) 238-8121 or email her at [email protected]. Hope to see you there!

Old Cutler Church
14401 Old Cutler Road
Miami, FL 33158
Wednesday, October 31st.
6:00 – 8:00 PM

Spoken by Ed Lucas | Discussion: No Comments »

Track or Treat is Coming to Pinecrest!

The Village of Pinecrest Parks and Recreation in conjunction with local businesses will be passing out treats to all of the little devils and angels this Halloween.

Children must be accompanied by an adult and have their own bag for collecting candy. Admission is FREE for all and this is a great way for kids of all ages to enjoy the holiday in a safe and fun environment.    Interested vendors may call Parks and Recreation at 305-284-0900 for information or visit www.pinecrest-fl.gov.

Bring the family and have a “bootiful” time!

Evelyn Greer Park
8200 SW 124th Street
Pinecrest Florida 33156
Wednesday, October 31st, 2012
5:00 – 7:00 PM

Spoken by Ed Lucas | Discussion: No Comments »

Pinecrest Blood Drive Needs You

It’s that time again and the Community Blood Centers of Florida need your help. Take the time to help others by donating blood and remember, the life you save may be your own.

All donors will receive a free mini-physical, tee shirt and a special thank you pack. Please be sure to bring your ID.

 

 

 

 

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Spoken by Ed Lucas | Discussion: No Comments »

Living in Palmetto Bay or Pinecrest Can Help Your Health

healthy houseIt may seem like a bold statement to make, but living in Palmetto Bay or Pinecrest can help you live a healthier life according to a new study.   The study claims that living in better neighborhoods can keep some people from obesity and/or adult onset diabetes.

You can read about it here.  I know we already have great reasons for living in these beautiful Miami area neighborhoods.  But a couple more certainly don’t hurt.

Spoken by Maggie Dokic | Discussion: No Comments »

Miami Bank Owned Properties On The Rise

As you can probably tell by my absence, I have continued to be busy both in the Redland and Miami in general. I prefer to use the word swamped. Something about being so close to the Everglades. =)

The last time I posted was 3 weeks ago. I know, I know, posting twice a month to a real estate blog is not really doing anyone any favors. I am working on being more consistent, but the bottom line is, if it’s a choice between working or posting to my blog, the work wins (although the truth is, if it were left to whim, the blog would win, but a girl’s got to set some priorities, right?).

So what’s been keeping me so busy? I’ve still got my Sellers and Buyers (yes they are capitalized on contracts and on my blog) and now I am running full steam ahead with bank owned property listings. Bank owned properties (or REO’s which stands for Real Estate Owned – a term used by banks to refer to their housing inventory) are homes which the bank has foreclosed on and now find themselves in the unsavory spot of having to do something with…namely get rid of them and not lose their shirts in the process.

In Miami and throughout the nation, many, many adjustable mortgage loans have been “adjusting” and in the process folks are finding themselves in mortgages they can no longer afford. They default on the loan and the bank starts the foreclosure proceeding. If the homeowner can’t keep up (or chooses not to) keep up with the payments they will be foreclosed on. By the time banks foreclose on properties most homeowners have vacated the home. But sometimes they haven’t (or have unsuspecting tenants in there) and then eviction proceedings start. Once the property is empty, the bank can concentrate on getting it sold.

We’ve been seeing lots of corporate and bank owned real estate listings on the MLS since last year but lately the volume is growing by leaps and bounds.

Something else we’ve been noticing is that the banks are pricing aggressively. Simply put, they price it cheap so it will sell NOW. Many factors are involved in the pricing of properties for a regular sale. It’s not any different for foreclosed properties. With the banks knowing that there are other banks out there pricing low to sell, they have no choice but to do the same. And please don’t think that this is happening only in blighted areas, or areas with a huge inventory of new construction bought by investors who haven’t been able to flip them. The very same thing is happening in luxury markets and established neighborhoods such as Coral Gables, Pinecrest, Palmetto Bay and others. It’s happening to varying degrees in just about every neighborhood.

So what does this mean to you? Well, that depends. If you are a Seller, it means you better be very motivated to sell. This is no time to be “testing the waters” to see if your custom home will sell at that price you have set in your head. It won’t. Speak to a knowledgeable real estate agent and get the truth about your competition. If there are bank owned homes in the area and you really don’t need to sell your home now, don’t put it on the market. You will only be competing with banks who have no emotional attachment to a property. Their only goal is to sell it, and most times, sell it in 30 days or less. The best way to do that is for them to price it below other similar homes. And they do.

And if you are a home Buyer, oh lucky you! Have I got great news for you. This is one of the best times to be a Buyer in Miami. Corporate and Bank owned homes can be found in just about every price range of homes you have been looking at, whether a small condo for the college kid to the executive with a growing family looking for an estate home in Palmetto Bay. The deals are out there. What sort of deals? Well, let me tell you about only 3 of the ones I’ve seen in the last month that made my heart go pitter-patter:

**The first one that made me flip was a 3/2 house in the Redland sitting on just over a true acre (which is 43,560 SF, not the acre wannabe known as a Builder’s Acre which only has 30,000 SF) with a 30? x 40? greenhouse with full workings inside, as well as a separate 20? x 30? poured concrete pad that was about 12 inches thick (did you know concrete price is determined by the thickness they pour? Twelve inches is about 3 times more than the cheapest out there), sprinklers throughout the acre, fully fenced and the piece-de-resistance that made me go ga-ga… a 30? x 40? half-grotto/half-paradise gardens which had been carved into the limestone beneath. I could see that whoever had carved this out had done so lovingly and with a definite goal in mind: to create something of beauty that would offer tranquility and the ability to get away from the rush of the everyday right in their own backyard. Steps had been carved in the stone leading to lower levels. Paths were carved which took you around the resulting project. Planters carved out of rock were filled with palms, still healthy yet waiting for someone to come and enjoy them again. There was a carved bench where I could picture sitting and enjoying the Koi which were surely planned for the lowest level carved out of the rock. One of the people I showed this home to suggested filling this “hole” in with dirt and I secretly cringed inside. It was blasphemy to me. Someone had spent a considerable amount of time, effort and probably money creating this. I could see the vision. All this was offered at a price of $250,000. An acre in the Redland without a home on it, presently sells for anywhere from $180,000 to $220,000, depending on the location. this home is located more in the higher range. So you were basically getting the home and everything else for about 30 grand. It sold in 12 days. Yes, even in this market.

**I saw a 2/2 townhome in Homestead which had originally sold for $205,000 two years ago on the market for $105,000. Most regular sellers are trying to get $160K for theirs thinking that taking a hit for $45,000 is a big deal (and it is) and along comes a bank and puts one on the market so far below theirs that they are forced to just wait ’til the bank-owned one sells and hope that another one doesn’t pop up. Good luck.

**Yesterday I saw a gorgeous estate home in Palmetto Bay sitting on a lot of over 15,000 SF. The home itself has over 3400 SF of living space, 4 bedrooms, 3 baths, a desirable hidden 2-car garage, a swimming pool and hurricane shutters. The inside is a bit dated with original dark wood kitchen that would more than likely be renovated by new owners, but right now is usable. The home is listed in the low $400’s in a neighborhood where other homes are listed between $600,000 – $899,000. Momma didn’t raise no fool. I know a bargain when I see one. This home is a steal, even with the small repairs it needs.

I could go on and on, but I need to take my Buyer to South Beach to look at some condos (hi Emily!) If you need help with finding foreclosures in Miami, the Redland, Palmetto Bay, Homestead or just Dade county in general, please contact me. I see them all the time and am happy to keep an eye out for you. =)

Spoken by Ed Lucas | Discussion: No Comments »

Home Buyer Activity Increases in Miami

HouseI have to apologize to my 7 (he he) loyal readers for not writing in ten days. This blog truly is kept up by me and not a ghost writer. Yes, believe it or not there are real estate bloggers out there who aren’t really writing their own stuff. Gasp!

Anyway, I am not here to trash those agents who would go against the nature of blogging and hire their writing out. Nor am I here to claim that blog purists insist “you’re not a blogger unless you’re doing your own blogging.” Whatever.

Read the rest of this entry »

Spoken by Maggie Dokic | Discussion: No Comments »

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These articles are not intended to give legal or tax advice, and you should consult your attorney or financial advisor for additional information.

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