S & J Journal

Dallas Brown and Kathleen Kauffman Junior Orange Bowl Parade Chair Kathleen Kauffman and JOB President Dallas Brown invite you to the 63 rd Annual Parade on Monday, January 2 nd at 3:00 p.m. commencing at Ponce de Leon Blvd. and Alhambra Circle in Coral Gables. Dallas Brown says, “this is a very special tradition for the children of South Florida. We’re looking forward to Clemson University’s Tiger Marching Band and the dozens of other units in the parade as we are all Soaring to New Heights !” See the parade route below. Grandstand tickets, $10 each, can be bought on site at the Ticket Booth in Merrick Park.

A recent New York Times article reported that 1.2 million Brazilians visited Florida in 2010 and spent $5.9 billion. Among some of their purchases were condos in Miami-Dade County. Brazilians enjoy our local lifestyle, affordable shopping and a safer environment.

Miami foreign real estate investments in 2011 are in the billions of dollars, according to a recent Florida Trend article. Some projects announced this year include: Brickell CitiCentre - a $700-million retail, office, hotel and condo tower, Developer from Hong Kong. Resorts World Miami - $3.8-billion project with four hotels, casino, condos, mega pool, convention center, Developer from Malaysia. Brickell House – 18-story, 96-unit condo tower in the city’s arts district, Developer from Argentina. International buyers are attracted to Miami’s location and appeal, condo rental market, and real estate that is more affordable than other metro cities in the U.S. and South America. Direct foreign investment in Miami commercial real estate reached $472 million this year from 2010’s $16 million.

Thought you would find this interesting. Single family home prices in Coral Gables have been rising since inventory started dropping in 2009 when we had 650 homes for sale on the MLX. It is a case of supply and demand and the supply is definitely dropping in all price ranges but especially in the $2M and under range. What bodes well for South Florida real estate bodes well for the rest of our economy and should help all businesses soon as well as our non-profits. There are also going to be a large amount of closings coming up in December as we have seen tremendous traffic the last three months.

“Coral Gables Real Estate Today” is a weekly show that airs every Wednesday from 1:00 p.m. - 1:30 p.m. on WZAB 880 AM The Biz after the Bloomberg Report. On “Coral Gables Real Estate Today” we, Jeannett Slesnick and Ginger Jochem, discuss interesting topics about the current state of real estate, great buying and selling tips, financing options and updates, events around the community, and more. Listen on your radio or on http://www.880thebiz.com./

1. Create a list of items needing attention. Start at the curb in front of your house with a notepad and pen and walk through the house. Jot down anything that "leaps" out at you. 2. Have a friend perform a walk-through of your home. Add their ideas to your list. 3. Repaint the front door and trim. 4. Open the front door and make sure it doesn’t squeak, groan, or drag. 5. Wash the mailbox and paint it if necessary. 6. Get an attractive mat for the front door for people to wipe their feet. Replace worn, badly stained, or personalized ones. 7. Clean out the flowerbeds. Make a distinct border between the beds and lawn. 8. Invest in a few flats of flowers that will last the entire growing season and will add color and beauty to the front of your home. 9. Prune bushes and trees. Remove any dead shrubs or low laying tree limbs. 10. Buy a flowering plant and place it in a window that is passed by frequently. 11. Remove any personal or family photos hanging on t...

It finally has happened! Our inventory of single family homes in Coral Gables dropped  to less than 300 properties (295)...the lowest it has been since the peak sales period of 2005-06 when prices were at their highest and we were down to less than 200 homes. Then inventory slowly expanded to over 650 homes in the sluggish years of 2007-08 and buyers were scarce. Today, of the 295 homes on the MLS, 123 properties are less than $1M, and 172 homes are at $1M or above. Now is the time to buy in the Gables while you still have a selection of affordable properties.

In terms of international real estate sales, California used to be at the forefront of the market in 2007 and 2008; but in 2009 it was Florida that took the lead – and still has it. Almost one-third of international real estate bought in the U.S. in 2011 was in Florida. 30% of those deals took place in the Miami/Miami Beach/Fort Lauderdale market according to the National Association of Realtors. Residential inventory in Miami-Dade County fell from 25,769 in August 2010 to 15,405 in August 2011: in Coral Gables it fell from 746 to 506, respectively. The top five international buyer markets are Venezuela, Brazil, Argentina, Canada and Colombia. Condominiums continue to be the international shopper’s residence of choice accounting for more than 70% of purchases (August 2011).

FACTOID:  310 homes are currently for sale in Coral Gables (September's # was 323). Inventory continues to drop.   Take a look at our new listing on 1509 Palancia .

Staging Isn’t Magic by Broker Agent Social.  Read article.

Couple Married 72 Years Dies Holding Hands - Des Moines News Story - KCCI Des Moines

Foundation Chairman Bill Bonn commended the evening’s Honorees - Vice-Mayor Bill Kerdyk, Pat Clarke, Former Gables Mayor Don Slesnick and Dan Finora - for their years of service to the organization and the City of Coral Gables. PHOTOS: June Thomson & Bill Bonn. Don Slesnick, Jerry Santeiro & Jeannett Slesnick, past Foundation Chairs.

Nearly one in five FL residents is over 65 years old now (U.S. Census Bureau). By 2030, one out of every four Floridians will be a senior citizen – many who will be living in So. Florida retirement communities...The Department of Highway Safety & Motor Vehicles revoked 7,716 drivers licenses last year, compared to 3,559 in 2000. Many seniors lose driving privileges primarily due to problems related to dementia, stroke, seizures and other health conditions. Florida law allows anyone to notify the state about motorists with physical or mental conditions that might impact their driving. To get help call 850-617-2000. Read this story: " Couple Married 72 Years Dies Holding Hands": http://www.kcci.com/r/29528191/detail.html#.TqWfpGtGr-4.blogger

The Coral Gables Community Foundation held a pre-party at Morton’s The Steakhouse to kick-off their 20th Annual Fundraising Gala set for Friday, October 14th at the Coral Gables Country Club from 7 p.m. to 1 a.m. 305-446-9670 for tickets and information. PHOTO: Anne Leidel, Foundation Chair Bill Bonn and Ginger Jochem.

Guests enjoyed complimentary appetizers at Pasha’s to preview Gables Bike Day to be held on October 23rd from 10 a.m. to 3 p.m. on Miracle Mile and Ponce. Read more. PHOTO: Robert Ruano, Frank Ortega, Maggie Fernandez and Pat Morris.

Winner of 8 Tony Awards, Hairspray is Broadway’s hottest musical comedy phenomenon. It’s 1962, and pleasantly plump Baltimore teen Tracy Turnblad has only one desire, to dance on the popular “Corny Collins Show.” When her dream comes true, she must use her new-found social status to vanquish the reigning teen queen, win the affections of her heartthrob Link Larkin and integrate a TV network...all without denting her ‘do. Playing now at Actors’ Playhouse at the Miracle Theatre through November 13, 2011. 280 Miracle Mile, Coral Gables. 305-444-9293.

Dignitaries and leaders of the cultural community in Miami-Dade County joined Queen Sofia of Spain as she hosted the opening of CCE Miami (Centro Cultural Español) at 1490 Biscayne Blvd. Among the event sponsors were Bacardi U.S.A., Inc. and Castillo de Tabernas Olive Oil maker. Musician Alejandro Sanz entertained the distinguished audience. 

A recent report prepared by CondoVultures.com shows that international buyers are pending an average of $318 million – mostly in cash – each month purchasing residential real estate in South Florida. The National Association of Realtors released a report that shows investors from Latin America, Canada and Western Europe bought more than $3.8 billion worth of residential real estate in Miami, Fort Lauderdale and Miami Beach alone in 2010. More than 86% of those buyers also paid cash. If lenders made it easier for international buyers tofinance, we would see even more investment in South Florida. Local buyers would also benefit from less stringent lending practices and fair appraisals.

FACTOID - Single Family Homes 438 # of Homes for Sale One Year Ago Today 323 # of Homes for Sale Today In Coral Gables, the number of homes for sale has been experiencing a steady decline for the last 18 months. When demand is high and inventory is low, prices can begin to increase. Call us today to help you find the perfect home in Coral Gables.

The Coral Gables Community Foundation gifted Coral Gables High School several large Egyptian palms. The trees had been donated to the City three years ago along with 30 oak  trees for the Alhambra median off Le Jeune which was recently replanted with taller palms. At the Foundation’s suggestion, the oak trees were moved by the City to the 400-500 blocks of Aragon to give more ambiance to that street. Thank you to the Foundation and the City for improving our green canopy.

In an AP article, Freddie Mac reported early last month that the avg. rate for a 30-year fixed mortgage fell to 4.32%. The rate on a 15-year fixed mortgage fell to a record low of 3.50%. In theory, low mortgage rates provide a boost to the housing market but because banks are requiring higher credit scores and larger down payments, some applicants are turned away. With rates this low, however, more people might consider buying or re-financing, a lower-risk investment than stocks. And since rental prices are rising due to lower inventory, buying is a great option.

50th International Tennis Championship December 17-23, 2011 Boys and girls ages 12 and 14 and under can register at www.jrorangebowl.org or call 305-662-6072. Junior Orange Bowl Parade Monday, January 2, 2012 at 4:00 p.m. The Junior Orange Bowl Committee is looking for float sponsors. The parade draws thousands of spectators in Coral Gables.

Don and Jeannett Slesnick joined Marguerite and Steve Zack in August to celebrate Steve’s year as President of the American Bar Association (ABA). South Florida is proud that one of its own native sons rose to become the leader of 300,000 lawyers across the nation. The annual meeting was held in Toronto. Don has served the past year on the ABA’s Commission for Civic Education in the Nation’s Schools.

Sabadell Bank’s Dwight Hill with immediate past Red Cross Board Chair Marielena Villamil New officer installation. Bacardi recently hosted the Annual meeting of the American Red Cross at their new LeJeune Rd. headquarters. Marielena Villamil, chair of the Board, passed the gavel to incoming Chair, Dwight Hill. Board members celebrated the end of the fiscal year and learned about Bacardi’s history.

Commissioner Ralph Cabrera, Don Slesnick, Barbara Stein and former Commissioner Chip Withers Coral Gables Commissioners Ralph Cabrera, Bill Kerdyk and Chip Withers hosted a roast for former Mayor Slesnick in June where funds were raised benefitting local cultural groups. Actors’ Playhouse was presented with a check recently. The first donation to be given out went to the Coral Gables Art Cinema in the amount of $10,000; additional checks will also be presented to the Coral Gables Museum, the Junior Orange Bowl and the Bach Society.

CLEAN . It is important for buyers to see a home that is clean and free of clutter. Dusting, vacuuming and deodorizing will go a long way. PAINT . Everyone likes to walk into a freshly painted home. Remember to keep paint colors in light, neutral tones as they are more inviting. REPAIR . If it is broken, it must be fixed. Sliding doors that are difficult to open, water damage on ceilings, or faucets that are leaking, raise a red flag. STAGE . You only need a few pieces of furniture, some lamps, plants, and accessories to make each room feel like home. PRICE . To sell your property in this market, it is imperative to price realistically. We specialize in performing a thorough market analysis. ADVERTISE . In our experience, the best combination for selling a property is a well-priced and well-advertised home!

Inventory is low in Coral Gables and prices are edging upward. For more information, watch Jeannett on the local news by visiting the Web at cbs.miami.com .

Inventory is low in Coral Gables and prices are edging upward. For more information, watch Jeannett on the local news by visiting the Web at miami.cbslocal.com .

Following up on Monday's blog post, foreign homebuyers seek Coral Gables real estate from countries like Canada, Brazil and the United Kingdom where they find benefits to living and working here. In the Gables there are 17 Consulates and four Trade & Tourism offices. More than 100 corporations have their headquarters in Coral Gables, including Bacardi U.S.A., Del Monte Fresh Produce, Fox Latin America, and Colliers International.

International buyers spent $41 billion last year to purchase U.S. homes. An article in the new blog, Trulia Insights, reveals that 10 out of the 24 most popular American cities that have caught the eye of international homebuyers are in Florida. Reportedly, buyers from Brazil, Canada, the United Kingdom, France, Italy, Russia, Germany, Sweden and the N etherlands spent about $13 billion on homes in Florida alone last year. It is said that this is because Florida might be perceived as being friendlier to non-citizens, and home prices in Florida are at a six-year low. Spending from abroad might be a catalyst for a revived h ousing market in the Sunshine State. If Trulia’s findings are any indication, international investments can either make us the world’s second home or an even more multicultural community.

According to Harvard University’s Joint Center for Housing Studies’ 2011 annual report, “State of the Nation’s Housing”, 16 million new housing units will be needed to meet population growth and demands within the next ten years. From 2007-2010, household growth averaged about 500,000 per year – less than half the 1.2 million annual pace averaged prior from 2000-2007. The report predicts a need for 1 million new homes a year to meet population growth in the coming decade. To absorb the current rate of foreclosed and distressed homes around the country, household formation needs to begin to develop at a more normal rate, according to the report. The trouble is that household growth has partially stalled since young adults have delayed buying homes and immigration has slowed down. As a result, builders have drastically cut production of new homes in recent years. “With inventories of new homes at historic lows, a turnaround in demand could quickly result in tighter markets,” the report ...

Downtown Dadeland Condo for Rent $2,350/month. (305) 975-8158 Gables current condo inventory has fallen to levels last seen in the summer of 2006. That was when the supply began to rise. Over the past 12 months, the number of available condos has fallen by approx. 25% , which is a better condition for Sellers. On the other hand, prices per square foot have fallen about 36% to 41%, which is a good thing for Buyers. With inventory levels on the decline, this is a good time to jump into the market, before interest rates increase. If you are an investor, it is also great because the rental market is strong. There is currently a shortage of quality properties for rent. Miami-Dade County has also experienced a dip in inventories over the past 12 months by about 24% and the price per square foot is beginning to very slowly increase. Why wait? Make your purchase now.

Ramona Busot & Jeannett Slesnick Museum Board Members The Florida Trust for Historic Preservation recognized the City of Coral Gables this year for outstanding achievement in the field of restoration/rehabilitation for the Coral Gables Museum project.  The award will be presented during the Florida Trust for Historic Preservation's annual conference to take place in Winter Park, Florida.

1426 Milan $596,000 - This is a beautiful home that was built in 1998 and is near the Granada Golf Course.  3 bedroom/2 bathroom two-story home with foyer entry and high ceilings. Spacious kitchen, Family room, 1-car garage. Upstairs office/den could be a 4th bedroom. Backyard is fenced and private. Come by the first Open House this Sunday from 3 to 5 p.m.

Americans are more confident than ever about the stability of home prices than they were at the beginning of 2010, according to Fannie Mae’s national housing survey (Dec. 2010). Meanwhile in Coral Gables, inventory of single-family homes continues to drop. It appears to be the first time that inventory has been below 400 homes since 2006.

February 23rd, Miami Bach Society Tropical Baroque Music Festival begins at 7 pm. Biltmore Hotel. 305-669-1376 Coral Gables Museum’s JAZZ in the Plaza. Wednesdays at Noon through April 27. FREE! 305-910-3996 March 3rd, Garden Party Under the Stars at 6 pm. Benefits Melissa Institute for Violence. Fairchild Tropical Botanic Garden. 786-662-5210 March 4th, Rotary Club of Coral Gables Casino Night at 7 pm. $150pp. Benefits CoralGables@HOME. 305-441-8063

Slesnick and Associates wishes you a love-filled day.

The Mortgage Bankers Association predicts the number of mortgage applications for home purchases will increase and home prices will stabilize this year, as reported on MSNBC's "7 Mortgage Trends to Expect in 2011."  Real estate analysts predict several other trends for 2011... • Experts say rates will increase to 5 percent in 2011, 6 percent in 2012. • The number of jumbo loans (loans over $417,000 in most housing markets and above $729,750 in high-cost housing markets) are expected to rise in the next few months. • All-cash purchases represented about a quarter of all existing home purchases in the last four months of 2010, according to Lawrence Yun, chief economist of the National Association of Realtors. He expects all-cash purchases to continue to represent a big part of the real estate landscape in 2011.