South Miami Home Market Analysis

May 21st, 2010 Categories: Market Trends, South Miami

Nothing gives you a clear picture of the South Florida real estate market as aptly as looking at the numbers.  And nothing gives a better understanding of the numbers as well as a visual aid.

Here’s what’s going on in South Miami. Please note that these numbers do not include the High Pines and Ponce Davis area.  While folks like to think of each of them as part of South Miami, they really aren’t officially part of the city of South Miami.  I ran these reports by city.  I’ll devote separate market reports to High Pines and Ponce Davis homes.  Below is a breakdown of the homes presently available for sale in South Miami:

There are 56 single family homes available for sale in South Miami. The lowest priced one at $29,900 (no, that isn’t a typo) and all the way at the other end of the spectrum is the highest priced at $1,899,000 (a beautifully appointed newer construction with 6 bedrooms and centrally located just minutes from U.S. 1).

In comparison, below is what is Pending Sale in South Miami.  That means that the home seller and buyer have come to an agreement on price and terms, escrow has been opened, and the transaction is on its way to closing sometime in the near future.  Considering the number of closed sales in the last 3 months (noted below), this number of pending sales is a very healthy number.  Keep in mind that not all sales that go under contract get to closing.  Sometimes the transaction falters and the reasons are many.  Of the 22 homes pending sale in South Miami, 12 are short sales and 2 are foreclosures.  So more than half of the pending home sales are distressed sales:

The final graphic shows what has actually closed in the last 30 days.  There were 3 closed sales in South Miami in the last 30 days.  There were 9 closed sales in the last 3 months, so last month’s activity is pretty much the average for the area lately: 3 sales a month:

When you think about the fact that there are 56 homes for sale and they are selling at a rate of 3 per month (we do not count pendings when calculating this), there are 18.66 months of inventory available for sale in South Miami. A normal market has about 6 months of inventory.  This means it is crucial that you price your property well to be one of those closed sales.

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Miami Areas To Love

May 21st, 2010 Categories: Areas to Love

In an attempt to better organize the content on this blog, I have been tweaking the categories and such.  I created a new category, Areas to Love.  This new category is the “parent” category of the specific areas, or the “children.”

The areas within are specifically:

• Pinecrest
• Palmetto Bay
• South Miami
• Coral Gables
• Killian
• The Falls
• Kendall
• Cutler Bay
• The Redland
• Southwest Dade

By the way, not only can you read the posts in those particular categories by clicking on the category links on the right sidebar, you can also reach the same posts by clicking on the graphics with the same names in the carousel, also on the right sidebar, but above.

It’s a beautiful day in the Miami area.  Happy Friday!

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Luxury Homes For Our Canine Friends in Miami

March 28th, 2010 Categories: Local Resources, South Florida Living

No, this is not my latest listing in Pinecrest.  This is one of the cutest dog houses I’ve ever seen!  I was driving west on 152^nd Street and had to do a 180 so I could appreciate these little homes closer.  They impressed me to no end.

The luxury dog houses are created by Ricardo and Janeth.  He is a master carpenter who specializes in custom yacht carpentry.  As the luxury market had dwindled a bit, so did the amenities associated with it.  In a moment of inspiration they decided to make custom homes for our furry friends.

My precious Fifi and Lola would love to live in any one of these homes.  There’s the little red shingled barn, a boat house with its crisp white paint, chimney stack and shiny golden anchor (look at those porthole windows!), and the stone villa, with its textured walls, and windowed gable.  Sooooo cute!

The attention to detail in these homes is impressive.  To order your own custom home for your furry best friend, you can contact Ricardo or Janeth at 786.285.9431 and tell them Maggie sent you.

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The Great Gazoo in Miami?

March 21st, 2010 Categories: Random Thoughts

I don’t just sell real estate in Miami.  I have fun with the family too =)  Today we drove over to Naples for a cheerleading showcase.  Right after the performance we drove right back.

It’s a gorgeous day in Miami today.  There’s a gentle breeze and we have all the doors and windows open.  Family is visiting and the kids are outside having fun and breathing fresh air.  aaaaahhhhhhh.

Here’s a picture of my Little One in her transportation of choice: Grandpa’s golfcart!  Don’t you think she looks a little like the Great Gazoo?  Here’s a side-by-side for comparison:

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Be Cautious When Hiring a Locksmith

March 9th, 2010 Categories: Community News

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Family Heads Back to South Florida

February 16th, 2010 Categories: About, Random Thoughts, South Florida Living, The Redland

In the past few years there’s been so much talk of people leaving south Florida and heading north.  It seemed that was all I heard a few years back.  But homes have become affordable once again in Miami and surrounding areas.

I read an interesting story of a family who headed to North Dakota lured by the promise of small town life, sweetened by the offer of free land and money to get their home purchase on its way.

It’s been four years since the Tristanis moved and they’re apparently trying to come back to south Florida.  The beautiful weather here is just one of the many reasons.

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