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My Colleague was surprised to learn... I was speaking with a new agent in our office yesterday. We were discussing For Sale By Owner Listings. He was surprised to learn that 99% of the time Sellers who are selling by owner will gladly pay 3% if an agent brings a Buyer. It is the additional 3% for a listing agent to list and market the property that Sellers seek to avoid in selling by owner. The question then becomes... Is there value for a Seller...Continue Reading!
7 Things we Learned from the Miami Downtown Development Authority at Wednesday’s Master Brokers Forum…
Here is a follow-up from my previous Master Brokers Forum post, the facts below came from Alyce Robertson (Executive Director of Miami's Downtown Development Authority)... 1) In the past 3 years, Downtown Miami's condo inventory has gone from 62% occupied to a stunning 93% occupied. 2) The largest demographic buying Downtown Miami condos are 25-40 years of age. Consequently, the new businesses that are opening in Downtown Miami cater to the 25-40 demographic. Ms. Robertson touched on the two large-scale projects that will be developed in Downtown...Continue Reading!
The Master Brokers Forum event this past Wednesday took place at Downtown Miami's Vizcayne condo at 244 Biscayne Boulevard (formerly known as Everglades on the Bay) before it was bought out by the current developer. Tour of Dwayne Wade's Vizcayne Condo... The event started with a walk-through of Dwayne Wade's magnificent 3-story Penthouse in the building. His unit features spectacular skyline views and he can literally zip line down the the American Airlines Arena below. Afterward the Master Brokers Forum gathered at the Club Room on...Continue Reading!
This week's Success Story... Our Sellers had their Coconut Grove townhouse for sale by owner for almost a year. During this period I kept in touch with them because I knew that they had a desirable property that would sell with the right... -Marketing And -Staging They were content paying 3% if we brought a buyer. It was the additional 3% for listing the property (total of 6% commission) that they were looking to avoid. Their feeling was that paying 6% commission would reduce their...Continue Reading!
My wife and I are proud to say that we just purchased a single family home in Coral Gables. Our Home Buying Story... Many months ago, we started driving to open houses on the weekends to get an idea of the market. This quickly allowed us to start recognizing value when we saw it. Believe it or not, one can literally get the lay of the land in terms of recognizing value within 8-10 property viewings. The overpriced homes stood out as well as the well-priced homes. The overpriced homes...Continue Reading!
The Seller Scenario... The ShowcaseMiami Team and I have been having conversations with the Sellers of a magnificent new construction home in Miami. The Question... Should the Sellers invest $50,000 to $100,000 more in finishes for the home so that the home can be marketed as "turnkey"? The Experts weigh in... You may recall the Miami Real Estate Seminars that I moderated at the University of Miami last year. Expert Panelists included: The Jills, Audrey Ross, Mayi de la Vega, Jeanne Nicastri and Carlos Justo. All concurred...Continue Reading!
1) De-clutter Challenge...I was working with a seller whose Coconut Grove townhouse had been on the market by owner for almost a year. He hired the ShowcaseMiami Team and me to upgrade the marketing to ensure a sale. The first thing I recommended was to de-clutter by throwing away or storing as many items in the home as possible. The idea was to create a more open space for buyers to enjoy (rather than feeling claustrophobic the moment one entered the home). Outcome...The Sellers...Continue Reading!
The chart above illustrates... During the first eight months of 2011, there was a large decrease in available homes for sale. The available inventory for Dade County single family homes over $800,000 had a healthy reduction from 1437 to 1206. In contrast, during the next 7 months (Sept 2011 to March 2012), available inventory of single family homes over $800,000 remained constant at 1202 in Sept. 2011 vs 1188 in March 2012. What does this indicate? It signals that homeowners in the $800K plus range who wanted to...Continue Reading!
By now, you know that I am bullish on the South Florida real estate market. By now, you are aware that the supply of available housing in Dade County has gone down by 40% in just 14 months. (There is 40% less inventory for buyers to choose from than there was 14 months ago). Buyers from around the world have been purchasing Miami properties that they feel are fairly priced. By now, you know that prices are creeping up in parts of Dade...Continue Reading!
Saturday, April 21... Open House...(12:30-2pm) 2233 SW 10 Street Miami, FL 33135 4 + Den/ 3 Bathrooms 2,627 square feet living area 6,000 Lot Size MLS# A1629185 Attractive period house with easy access to downtown Miami and to Coconut Grove/Coral Gables and new Marlins Baseball Stadium. Located on low-traffic suburban, tree-lined street. Tile floors throughout and wooden staircase. Four bedrooms plus den which is easily converted to 5th bedroom. ShowcaseMiami Realty specializes in assisting homeowners to Sell their Miami home. (Highest price in the Shortest period of time) To discuss a...Continue Reading!