Coral Gables Commercial Sale

OFFICE BUILDING SOLD FOR $2.5M
Location: 4225 Ponce de Leon Blvd.
Seller: Sandiaz Investment, represented by Ana M. Santisteban, president.
Buyer: 4225 Properties, represented by Ruby Bacardi, sole manager.
Price: $2.5 million or $1,006.04 per square foot, based on 2,485 square feet of building area, or $500 per square foot, based on 5,000 square feet of total land area.
Total [...]

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Gables Office Market

With continued tightening of the office market, rental rates are expected reach record levels, and continued moderate growth through the end of 2007 would be my forecast. I expect to see rental rates reach the $27-per-sf mark and for vacancy rates to rise.Vacancies have been dropping since the first quarter of 2004. In that time period, the [...]

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L U X U R Y  M A R K E T  FOURTH QUARTER  2006
       ACTIVE                          SINGLE FAMILY  HOMES OVER $1M                                       
                                               Miami Beach    Coconut Grove  Coral Gables       Key Biscayne 
Active Listings                          292                      124                       223                        90
Average List Price                    $3,810,728          $2,344,558           $2,967,999            $3,841,566
Average List Price ($/SF)         $919                    $588                     $696                      $1,248
Average Sq. Ft. (interior)         4,185                   3,986                    4,263                     3,078
Highest Priced Listing             $22,000,000        $10,999,000         $15,900,000 [...]

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Miami Single Family Homes Update

Miami, FL Market Update for December 2006
Here are recent real estate statistics for Miami, FL. These numbers represent single family (SFR) homes only. Percentage of homes on the market where the price has been reduced: 31.7% *

Average
November 2006
December 2006
% Change

Asking Price
$474,692
$506,386
6.7%

Sales Price
$450,823
$486,207
0.0%

% of Asking Price
95%
96%
1.0%

$/SQFT
$234
$242
3.4%

Days on Market
120
123
2.5%

Total Transactions
1,547
1,379
-24.5%

All numbers are from the MLS and are [...]

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Gables Inventory Price Range Values

 Loyal readers, I owe you more in the way of a market update (charts & graphs), but I just came across these stats on our MLS and I am going to post them up for now. I’ll follow up with some legitimate market analysis in a few days. January has turned into an extremely busy [...]

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A brush up on our property taxes

2007 Property Tax Exemption Filing Period 
For Miami  Dade County-If you miss this deadline you’ll be sorrrrrrrrryyyyy.
Tuesday, January 2 - Thursday, March 1
The Miami-Dade County Property Appraisal is currently receiving applications for the various property tax exemptions provided for by Florida state law.The deadline for property owners to submit applications is Thursday, March 1st 2007.To facilitate this [...]

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National Figures Nov-Dec

Here is a link to an informative article about the Florida real estate markets. Here are a few highlights.

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Loosen up some more cash.

This is a continuation from my previous post. http://coralgablesmiamihomes.wordpress.com/2007/01/26/loosen-up-some-cash/
Discounting Notes
Obviously, if you’re a mortgage note holder you’re not going to be thrilled about selling at a discount; however, a lump some of cash today is more valuable than small monthly payments over an extended period of time from unknown payers. This concept is the time value [...]

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Loosen up some cash.

Why would you finance your buyer or any buyer? What can you do after the fact? Do you sometimes need additional cash for a real estate transaction to be completed? Well, here’s an idea.

Many sellers take back mortgages when they sell their homes, especially during a slow market-like now. This paper is salable. You could [...]

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Seller Tips

I just returned from a listing appointment and I thought I’de share with you a question I’m often asked when it comes to pricing.
We Can Always Reduce the Price Later, Right?
I’ve always believed, better yet, I know-that sellers stand to make the most money possible from a sale when a house is priced right, from the [...]

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