Recently, Coldwell Banker Residential Real Estate's Coral Gables office had 18 of its sales associates build a house for "Habitat For Humanity." Among those on hand to help was Miami-Dade County Mayor, Carlos Jimenez (center, dark-blue shirt).
Florida leads list of 'turnaround towns'
From MSN.com
All eyes are on Florida these days, and it's not just because of Newt and Mitt.
Florida dominates Realtor.com's list of the "Top 10 Turnaround Towns," with Florida cities taking eight of the 10 spots on the list for the fourth quarter of 2011. Once again, Miami ranks first, as it did the third quarter.
Second on the list is Phoenix, which — like Miami — saw property values experience a sharp runup and then a deep plunge. Foreclosures are high in Phoenix, but so is investor interest. The only other non-Florida city on the list is Boise, Idaho.
To see the complete list of Florida cities, click here.
The 25 billion dollar drop in the bucket
Contributed by Carlos Lobato of Coldwell Banker Residential Real Estate's Miami Lakes office.
Last week the president announced the long awaited 'mortgage settlement' in which 49 states (minus Oklahoma) will be participating in. Essentially 5 of the major banks will be given cold hard cash to help them "make amends" for their past misgivings and trespasses. For starters, the program will provide up to $2000.00 for homeowners that were expeditiously foreclosed on using so called robosigning techniques and practices. Really? A whole two grand? What consolation is this when you've lost your home?
In addition to this a good chunk of the settlement will be used for a combination of modifications, rate reductions, and principle reductions. While for the fortunate homeowner that happens to qualify for any of these remediation, this could be the saving grace that saves their home, their finances or even their family; the fact of the matter is that when all is said and done only 1 in 10 will be helped. And while any assistance to responsible homeowners and/or victims of questionable foreclosure practices in certainly welcome, we must realize that a healthy housing market is an absolutely essential component of our broader economic recovery. In this age of austerity, spending freezes, and well-justified concerns over trillion dollar deficits I can certainly understand the hesitation to "go big". Yet going big is just what the severity of our circumstances requires at this time. If only our politicians would get out of the way...
To read more of Carlos' thoughts and feelings on real estate, from market trends to practical advice for buyers and sellers, as well as personal experiences out in the field, go to his "Bits About Real Estate" blog.
Bordering Key Biscayne!
By guest contributor Susie Abell, Branch Manager of the Coldwell Banker Residential Real Estate Key Biscayne office.
Just 15 minutes from downtown Miami and bordering the southern end of the Village of Key Biscayne is Bill Baggs Cape Florida State Park which has the distinction of being voted “one of the 10 Best Beaches in the U.S.” With more than 1.2 miles of Atlantic shoreline and 1.4 miles fronting Biscayne Bay, it is one of the most popular parks in Florida.
Ponce de Leon saw the magic of this place when he led the first Spanish expedition to Florida in 1513 and named it Cape of Florida. The famed lighthouse was finished in 1825; however, it was damaged in the Second Seminole War and was rebuilt in 1846. It’s the oldest standing structure in Miami-Dade County. After extensive damage from Hurricane Andrew in 1992 to the non-native Australian pine trees that dominated the landscape, the park now is home to a variety of native plants. Depending on when you visit, you can see more than 50 butterfly species and 170 bird species. You also might spot a peregrine falcon, piping plover or an American crocodile. Loggerhead sea turtles next along the beach each summer.
You can take a tour of the lighthouse, go swimming, fishing, biking and hiking or just relax with a picnic. For more information call 305.361.5811 or visit www.floridastateparks.org/capeflorida.
If you would like Cape Florida your neighbor and live on Key Biscayne, here are a few properties that are currently for sale.
Information courtesy of the Key Biscayne Chamber of Commerce.
Trulia: 1 in 3 home searches cross state lines
SAN FRANCISCO, February 2, 2012 – According to real estate search engine Trulia, “House hunters near and far eye Florida real estate.” Seven of the top 10 metros with high demand from out-of-state residents are in Florida. Even with a backlog of homes unable to complete the foreclosure process, big price declines mean more people want to move to Florida than leave. In fact, one-third of all Miami home searches were done by people living more than 500 miles away.
Trulia’s Metro Movers Report looks at where homeowners are today and, by analyzing where they search for a new home, provides a look at where they want to live tomorrow. The Winter 2012 report examines all property searches on Trulia.com among all U.S. metropolitan areas between Oct. 1 and Dec. 31, 2011.
“Today’s house hunters are deal seekers,” says Jed Kolko, Trulia’s chief economist. “Although locals in Florida, inland California and the Southwest are suffering from high foreclosure rates and lost equity, huge prices declines … have drawn house hunters from across the country. As America’s retirement capital, Florida has received the most attention from prospective homebuyers and renters from the Northeast and Midwest. Baby-boomers who had planned to retire to cheaper places during the boom years can once again buy in Florida.”
To read the entire article click here.
Coldwell Banker Residential Real Estate CARES Donates $46,000 To Local Non-Profit Organizations
Miami, FL (February 8, 2012) –Coldwell Banker Residential Real Estate CARES, the charitable arm of Coldwell Banker Residential Real Estate distributed $46,000 to 17-different non-profit charities in the Miami-Dade area. The funds were raised through Coldwell Banker Residential Real Estate’s Miami-Dade office’s first golf tournament, local office fundraising and agents direct funding through closings.
Recipients from the various organizations, along with CARES representatives, were invited to a reception on February 2 to receive the donations and to further discuss the work their charities are involved with.
“As an active member in Miami, Coldwell Banker Residential Real Estate and its sales associates are committed to giving back to the communities we live and work in,” said Mike Murray, Vice President, Coldwell Banker Residential Real Estate, Southeast Florida. “The money that we raise in Miami, stays in this area further strengthening our communities.”
The following local organizations were selected as recipients:
• Ronald McDonald House • Centro Hispano Catolico • Diabetes Research Institute • Educate Tomorrow • Friends Forever Rescue, Inc. • Karen Peterson and Dancers, Inc. • Liga Contra El Cancer • Miami Contemporary Dance Company • Armed Forces Service Center, Inc. • The Posse Foundation • St. Sophia Greek Orthodox Church • Touching Miami with Love • University of Miami-Linda Ray Intervention Center • Cancer Support Community of Greater Miami • Lauren’s Light • Girl Scouts of Tropical Florida • Friendship CircleCARES, the charitable arm of Coldwell Residential Real Estate, mission is to give back to the communities and neighborhoods in which its members live and serve by providing charitable contributions and volunteer support, thus strengthening and reinforcing its commitment to creating a lasting source of unity, hope and vision throughout Florida.
Mobile Technology in the Real Estate industry
By Guest Contributor Steven Bastian, Sales Associate in the Coral Springs office
Mobile Technology has caused a major shift in our real estate businesses and in many office environments. An agent who utilizes and leverages the current technology can truly be a real estate road warrior and operate without an actual office within their brokerage. Much of the in-office focus has shifted towards presentations and client meetings.
With the introductions of smartphones (i.e. iPhone & Android & Blackberry) and tablets (i.e. iPad), the shift has been towards a much more mobile real estate agent. Nowadays, the real estate agent can be more mobile and have client meetings wherever they want, a Starbucks, a Dunkin Donuts or even a Restaurant can be a great meeting place with clients and not their own office, with the introduction of the mobile hotspots.
Portability and mobile technology have changed real estate forever. We are not just talking about laptops changing real estate but the fact that everything in a real estate transaction can be done entirely outside of your office. Agents are using their mobile phones to be more efficient. Rather than taking their laptops, agents are using their tablets to have contracts signed digitally. Online CRM (Customer Relationship Management) are being used by agents that can be accessed from anywhere, which is replacing the old traditional rolodex.
If you have been hoping that technology in real estate was just a fad, you better think again. The real estate industry has shifted from brick and mortar offices to a new and far more efficient digital landscape. The technology is advancing at such a rapid pace and hardware such as the touch screen devices including iPhones and iPads are so easy to learn that you will wonder why you didn't get one sooner. Once you get bit by the technology bug and you start learning and adapting the newest technology into your day to day real estate business your personal productivity is sure to increase.
Trulia.com: House hunters still flock to Florida
Despite the threat of hurricanes and a tsunami of “underwater” mortgages, potential home buyers still view the Sunshine State as paradise.
Among the top 10 metro areas nationwide where demand among online house hunters is strongest, seven are in Florida, according to real estate website Trulia.com.
To see where online house hunters are looking click here.
Hear the Eco: Village of Pinecrest Incentives for Green Building and Remodeling
By Guest contributor, Melanie Dawn Wood, Sales Associate, Coldwell Banker Residential Real Estate Pinecrest office
The Village of Pinecrest is dedicated to a more energy-efficient and environmentally sustainable future for its residents. For instance, at the municipal level, the Village has enacted “green purchasing” and “recycling initiatives” for the municipal center and parks. In addition, the Village’s “Green Action Plan” pledges to reduce greenhouse gas emissions to 7% below the 1996 levels by 2014.
But your Village didn’t stop there. Recognizing that, as noted by the US Green Building Council, remodeling your existing home “is inherently greener than building a new one,” Village of Pinecrest also offers incentives for builders and homeowners to go green with those remodeling/retrofitting projects. Ordinance 2011-5 provides expedited permitting and rebates of permitting fees if your remodeling project meets any of the many certification requirements from the Us Green Building Council, the Florida Green Building Council, Green Globes “Green Building Initiatives” or federal Energy Star standards. Permit fee rebates range from 15% up to 30% depending on which green certification is achieved.
The incentives provided by the Village of Pinecrest are in addition to the many tax credits, rebates and other incentives available to homeowners at the state and federal levels, including the 30% federal tax credit on your personal tax return for qualifying green remodeling projects.
So before you start your next remodeling project, be sure to contact Village offices for details because green remodeling/retrofits save money on your utility bills, are better for your health and the environment, and will help increase your re-sale value.
In a NutShell: Spreading the Good NEWS in 40 Seconds
Contributed by Ingrid Carlos, Manager, Coldwell Banker Residential Real Estate Hollywood office
Buffet CEO on the Real Estate Recovery Summary:
The fact is that although housing has been under a lot of stress there are emerging signs of recovery. What are the tipping points?
Rents have finally exceeded the cost of home ownership; this is going to cause people to re-think their choice of Renting vs. Buying.
Overall in the last couple of months we have begun to see an increase in home sales activity.
Inventory overall is off about one-third from its peak.
As we move more into a balanced equilibrium we may start to get price stabilization and see some positive price growth towards the second half of the year. In Miami there was 10 years of inventory about 2 years ago and now there is not enough. The inventory will come now that homeowners start to think that they can sell their home without giving up too much of a price forgiveness.
We are seeing price stabilization in markets across the country but Miami is used as an example as the most outrageous and most positive.
Coldwell Banker CARES Gives Back
By Guest Contributor Judy Campo, Manager, Coconut Grove office of Coldwell Banker Residential Real Estate
Coldwell Banker Residential Real Estate LLC is the largest real estate brokerage company in Florida and we believe in giving back to the local community through Coldwell Banker CARES by providing charitable contributions to a wide array of non-profit organizations in the neighborhoods we serve.
This year we are pleased to present 17 charities with checks totaling $46,000. Agents contribute their time, talent and treasures to help ensure a brighter future for underprivileged children, cancer and diabetes research, feeding the elderly and other worthy non-profit organizations. Many of our sales associates support CARES by donating a percentage from each closed sale.
February 6-18, we are volunteering our time to construct an affordable home for a deserving family who will also participate in the build through Habitat for Humanity of Greater Miami where ten homes will be built in ten days at Habitat Oaks in Liberty City.
In May, we will be having our Second Annual Golf Tournament and Silent Auction, our largest fund raiser of the year! This is an exciting time for us and I wish to thank all of our managers, staff and associates who unselfishly work toward this goal!
The Jills(R), Florida's #1 residential real estate team in sales volume, recently made national news with their latest listing.
Drake, the rapper and Grammy-nominated recording artist who currently holds the spot for #1 rap album in America, put not one, but two, of his Miami apartments on the market and choose Coldwell Banker Residential Real Estate's top-Florida team to find a buyer. The side-by-side units, 4906 and 4905 in the Marquis Residences, both boast 20-foot-high ceilings with waterfront views, glass walls and marble staircases, and can be combined as a single apartment to create 5,475 square feet of living space. The total asking price? $2.5 million (the larger 4906 is selling for $1.9 million, while 4905 is priced at $599,000.
"Both units are just stunning," says listing agent Jill Hertzberg. "Everything is state-of-the-art, from the kitchen with oversized Viking appliances, to the two-story, soaring living rooms -- mesmerizing views."
The apartments are located in one of Miami's most "elegant" buildings on Biscayne Boulevard, featuring A-list amenities such as a spa and fitness center, an open-air sky pool deck, state of the art meeting room facilities and private elevators.
To read AOL Real Estate's article on Drake's Miami digs, click here.
Coldwell Banker Unveils Lineup for 2012 Gen Blue Experience
This year at the “Generation Blue Experience” event, Coldwell Banker professionals will converge on the New Orleans Convention Center from Feb. 29 to March 3, 2012 to exchange ideas, enjoy primetime entertainment and take time to recognize outstanding accomplishments among their colleagues. Below is one of the many attractions for this year's lineup.
Housing Town Hall
This Coldwell Banker event will feature a “Housing Town Hall,” headlined by renowned former presidential advisors Karl Rove (R) and Robert Gibbs (D), who will share their unique experiences from the White House inner circle. Rove and Gibbs will go head-to-head in a politically charged discussion on critical issues shaping the 2012 election, including housing.
“With 2012 being an election year, it is the perfect time for us to bring together two recent presidential advisers from each side of the political aisle to go head-to-head and discuss the extent to which they believe that real estate will be on the minds of the candidates and the American people,” said Budge Huskey, president and chief operating officer, Coldwell Banker Real Estate LLC. “Our brokers and agents are in for a treat.”
To see the rest of the lineup for the 2012 Gen Blue Experience, click here
Recently, Forbes.com posted as article entitled “Trulia’s Real Estate Crystal Ball for 2012,” in which Trulia’s chief economist, Jed Kolko, gave his thoughts on where the housing market will go in 2012. One of his predictions applauded Texas, specifically Austin, Houston, Fort Worth and San Antonio, for their steady job growth and construction revival.
Kolko writes:
“Smart cities are hot. In 2012, the local housing markets that will enjoy rising prices, new construction or both, are those that start the year with stronger job growth and fewer empty homes holding back the market. Based on these factors, along with other leading indicators, here are my top five cities to watch:
• Austin, TX, and Houston, TX. The bloom’s not off the yellow rose of Texas. Steady job growth and a construction revival make Austin and Houston two of my five cities to watch. Texas isn’t hung over from the housing boom like the other big states of the South and West, so there’s little to hold back growth. Honorable mention to Fort Worth and San Antonio.”
To see the other four cities, and read the entire article, click here.
Coldwell Banker Residential Real Estate is proud to announce that Miami Beach sales associates, “The New Wave of Real Estate,” group, along with Nancy Corey, branch manager at the Miami Beach office, will be featured speakers at the company’s Generation Blue Experience in New Orleans on February 29 through March 3, 2012.
“The New Wave of Real Estate” is a group of young REALTORS®, who use the latest technologies and social media tools to market properties to the masses. Brought together by branch manager Corey because of their youthful energy and passion for business, “The New Wave of Real Estate” created a concept called the “Social Media Hot Spot,” a technique that utilizes collaborative efforts in order to connect the group’s social media networks. With each member of the “New Wave Group” harnessing their Facebook®, Twitter ® and LinkedIn® networks, they are able to expose property listings to over 15,000 people in under 15-minutes.
Watch a video of “The New Wave of Real Estate” at work here.
Coldwell Banker Residential Real Estate’s Danny Hertzberg Named to Forbes Magazine’s “30 Under 30”
Coldwell Banker Residential Real Estate is proud to announce that Danny Hertzberg, sales associate in the Miami Beach office and member of South Florida and Miami Beach’s leading luxury real estate team, The Jills®, was named to Forbes magazine’s “30 Under 30: Real Estate” list. In 2011,Hertzberg, a Miami Beach native, closed a total of 39 transactions totaling over $43 million in sales volume.
Hertzberg has already reached a remarkable level of sales production in a very short period of time, and has been instrumental in forming “The New Wave of Real Estate,” a group of young REALTORS® who use the latest technologies and social media tools to market properties to the masses. “The New Wave of Real Estate” has created a concept called a “Social Media Hotspot,” a technique that utilizes collaborative efforts in order to harness the group’s social media networks, such as Facebook®, Twitter® and LinkedIn® to expose property listings to over 10,000 people in under an hour.
“Danny Hertzberg is a focused, disciplined and highly skilled individual who has the unique ability to combine personal attention to his clients while utilizing his expertise in negotiating,” said Nancy Klock-Corey, branch manager at Coldwell Banker’s Miami Beach office. “He is a natural leader who emanates a personal interest in everyone surrounding him, and to whom peers, community leaders, customers and clients are drawn Danny is truly a gifted and inspiring young man.”
To view the complete list, click here.
At What Price Should I List My House?
By Guest Contributor Chris Maccarone, Branch Manager, Coldwell Banker Residential Real Estate Coral Springs office.
The price at which you list your property may significantly affect the ultimate selling price and the time it will be on the market. Although your motivation is a factor, the list price should be established only after careful consideration has been given to the reasonable range of value indicated by a Realtor’s Competitive Market Analysis.
The best time to sell your property is when the house has just been placed on the market.Overpricing may cause you to lose this valuable period. The following are some of the reasons why listing your property at too high a price is not in your best interest.
- The wrong prospects look at the house, if any at all. People not only buy in price ranges, they also look in price ranges.
- Realtors don’t want to lose credibility with their buyers by showing the overpriced listings.
- Realtors know from experience that fair offers on overpriced houses are often rejected.
- The house may become overexposed and shopworn. Potential buyers begin to assume there is something wrong with the house.
- Even subsequent price reductions do not regain the lost market. Many qualified buyers who inspect overpriced listings decide at that point to eliminate that house from further consideration. It is often difficult to interest them again at a later date.
- When people see that a house has been on the market for a long period, they assume they can get a bargain and extremely low offers are likely.
- Overpriced listings help sell those houses that are properly priced.
- Today’s buyers are knowledgeable and may ask for a Market Analysis from their Realtor prior to making an offer.
- Institutional lenders are knowledgeable. Most purchasers require some form of institutional financing and this requires an appraisal by the lender.
- While overpriced properties may eventually sell, they usually sell for less than if they were properly priced when first offered for sale.
Bottom-Line: If you want to sell your home in the shortest possible time, at the highest price and with the least amount of inconvenience to you, price your home to sell at the beginning…you’ll get great results!
Coral Gables Market Snapshot
By Guest Contributor Charlette Seidel, Co-Manager, Coldwell Banker Residential Real Estate Coral Gables office.
Our weather is exceptional and so is our real estate market! November brought an increase in activity over October and the activity has continued into December. The Miami market again posted the highest sales increases of any major metro area for condominiums and all single family home markets in Florida.
Strong demand from international buyers is fueling robust sales activity in Miami. Short sales and foreclosures continue to have an impact on the market; short sales have a higher rate of approval currently in a faster time frame. The key is to have a great negotiator on the Seller’s side.
The Coral Gables market has 275 listings currently, 71 pending sales that are not closed and 16 closed in November. Most likely we will see more homes hit the market in January 2012.
Market Snapshot: Aventura
By Guest Contributor, Mike Brunnberg, Manager, Coldwell Banker Residential Real Estate Aventura office
The current real estate market in Aventura offers a spectacular selection of the most gorgeous residences in South Florida. With 11.6 months of inventory in the $200,000+ price range, the average price per square foot through October is $194 which represents an increase from 4.1% from last month and 10% from a year ago. Properties are taking slightly little longer to sell, compared to a year ago, with the average Days on the Market increasing from 111 to 116. The average sales price is $263/square foot; however, the average price on the market is $645/square foot.
The most active price point is the under $300,000 price range, with limited inventory in solid buildings with good operating associations and no assessments.
If you’re considering the Aventura market, there’s nothing quite like it. I invite you to explore a complete list of available properties at www.Floridamoves.com/Aventura.
Data supplied by Trendgraphix based on information from the Southeast Florida Multiple Listing Service pulled on December 2, 2011.
Happy Holidays from Key Biscayne!
By Guest Contributor, Susie Abell, Manager, Coldwell Banker Residential Real Estate Key Biscayne office
www.Floridamoves.com/KeyBiscayneAs this is being written in mid-December, it’s currently 85 degrees outside, the sun is shining, the ocean is calm and inviting, the fish are biting, and one might think it’s just another day in paradise.
Well, it is…AND the holiday spirit is alive and well as children of all ages play soccer on the Village Green, swim races at the Community Center and take advantage of the newly renovated playground…right next to Key Biscayne’s beautiful seasonal display which includes a giant Christmas tree and a large menorah.
Key Biscayne offers all kinds of holiday festivities from Santa making a visit to The Square Shopping Center to the Winterfest Boat Parade to a multitude of religious celebrations.
It’s a special time of year as families and friends gather in this “winter wonderland” and enjoy each other’s company.
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