S & J Journal

Demand is up, inventory is low and prices are rising. That is what a Miami Herald article is saying today. In South Florida communities stretching from Homestead up to Weston, bidding wars are exploding and real estate inventory is quickly diminishing. Read more.

Despite the sluggishness of national numbers, a few markets are downright hot again. You may recognize some as boom markets from years past. Bidding wars are erupting over some homes for sale in cities like Seattle; Sacramento, Calif.; Reno, Nev.; San Francisco; Washington, D.C.; and Miami, according to the The Wall Street Journal.  The limited number of homes for sale is causing the increased competition at some price points in some cities. Massive purchases of foreclosures by investors have helped gobble up much of the excess. But while sales volumes are increasing, prices aren't yet showing much of an increase, if any, says the Journal.

Baptist Health and the Coral Gables Chamber of Commerce present the 17 th Annual Tour of the Gables at 7:30 a.m. starting at Gables City Hall. More than 1,000 runners and walkers are expected. Register at teamfootworks.org or call 305-446-1657 for more information. Pictured: Baptist Health’s Maria Luisa Gonzalez Silva and Phillis Oeters.

Peter Rabbit and the Garden of Doom at the Children’s Theatre on Saturdays at 2 p.m. through May 26. Box office 305-444-9293. Becky’s New Car is “one of those plays in which the heroine hardly ever is off stage, thankfully in this case because it is Laura Turnbull as Rebecca, the leading lady... and handsomely directed by Actors’ Playhouse veteran David Arisco.” says Ron Levitt. Runs through June 3. Call 305-444-9293. Pictured: Jemina Puddleduck played by Ann Marie Olson. 

The University of Miami’s School of Communications Vice Dean Robert Stahr Hosmon was recognized for his 44 years of dedicated service to the school this past Friday at the Newman Alumni Center. Pictured: Norm Parsons, Dr. Robert Stahr Hosmon and Ellen Fleysher.

Recently at the Riviera Country Club, new Garden Club members and officers were installed. Pictured: Mona Coll with new members Ginger Jochem and Sherry Jordan. Luncheon Chair Jana White with incoming president Sharon Trbovich. 

* Seraphic Fire closes its 10th anniversary season with “Treasures of the Mission Road”. First United Methodist Church, 536 Coral Way, at 7:30 p.m. on May 11. Visit seraphicfire.org for tickets. * Coral Gables Museum is offering Spring Pedals, bicycle tours through The City Beautiful. Begins at 11 a.m. May 20. RSVP, 305-603-8067. $ 10/person; $5 museum members. * Actors’ Playhouse on Miracle Mile : Becky’s New Car, a comedy about middle-aged longing and regret runs through Jun e 4. Box office, 305-444-9293.

Dade Heritage Trust, a nonprofit historic preservation organization, recently celebrated its 40th Anniversary by “Dancing through the Decades” at the Coral Gables Country Club. Dressed in black tie or “fashionable decade” attire, 200 guests enjoyed a silent auction, Bacardi bar, dinner dance and entertainment by Fred Astaire ballroom dancers Vera and Vladimir Kosarev. Judy Pruitt chaired the event, and former Coral Gables Mayor Don Slesnick served as master of ceremonies. Robert J. Fewell was honored for his many community contributions to preserving Miami’s historic legacy. PHOTO: Jonah and DHT 40th Anniversary Chairman Judy Pruitt, Jeannett and Master of Ceremonies Don Slesnick, DHT CEO Becky Roper Matkov and Tom Matkov.

Over the past months we have noticed the “Shadow inventory” of distressed properties discussed on news reports just doesn’t seem to exist. Today in Coral Gables there are no single family homes that are REO’s (Real Estate Owned by lending institutions) on the MLS and only 8 condos out of 143. That number is less than 2% of the total inventory. In Miami Dade County, less than 5% of the inventory is designated as REO’s. These numbers are rather insignificant so if you are waiting to get a good deal, you may be missing the opportunity to buy a well-priced home. We have actually begun to see some list prices adjusted UP… If you are a Buyer in this market, take advantage of the record low interest rates. Listen to us: We are not in a buyer’s or seller’s market, but a fair one, so purchase your new home in the Gables today.