S & J Journal

Now is the time to put your home on the market right after the first of the year, especially here in Coral Gables. A   Florida Realtors   article shows that pending sales are slowing down. The Pending Home Sales Index indicates a projection of almost 10 % higher home sales in 2014, and an 11% increase in existing home prices. Read the article.

As Seen in The Miami Herald : "Jeannett Slesnick, a broker-owner at Slesnick & Jochem LLP in Coral Gables, said the top challenge in the current market is the dearth of inventory amid rising demand. “It’s red hot. Red, red hot,’’ she said.  Slesnick recently listed a 3/2 old Spanish in north Gables that needed extensive work ... and got multiple offers on it almost immediately. It sold for over asking price." R ead the full article.

Florida Realtors reported yesterday that U.S. home prices “jumped in February by the largest amount in 7 years, evidence that the housing recovery strengthened ahead of the all-important spring-buying season.” The real estate data research company CoreLogic reported that home prices rose 10.2% in February compared to the same time last year. For 12 months straight, prices have been steadily climbing. (Coral Gables has also seen a steady increase in home prices in the past year. Several reasons were cited for the increase in prices: more sales of previously owned homes and a very low inventory of homes for sale. The cities with the largest home price increases were Atlanta, Los Angeles, New York, Phoenix and Riverside, Calif. Although home values remain low, down 26% since April of 2006, consumer confidence is being fueled by higher home prices - enticing buyers to act quickly on a purchase before prices rise further and making homeowners feel the...

Approaching housing boom... We have been saying that housing prices in the Gables have been creeping upward, a good sign of a recovering market. Now Florida Realtors reports that economists predict a new national housing boom by 2015, with prices rising by 5% to 7.5% per year and home construction by 20% per year.   Florida Realtors Article

 Photo by Mitchell Zachs. The JOB’s Past Presidents with Mayors Gimenez and Cason. Miami-Dade County Mayor Carlos A. Gimenez presented a proclamation at the kick-off event held at the Biltmore Hotel, naming that day, September 18, 2012, Junior Orange Bowl 64th Anniversary Day. The “Sailing to New Adventures!” JOB Parade is on Sunday, December 30, 2012. Call 305-662-1210 for details.

Mia Patch Licensed Realtor 305-333-7167 mia@slesnick.net  Mia Patch is a marketing and sales executive with more than 20 years of experience in the Florida and Colorado real estate markets. Slesnick & Jochem now brings our expertise to Coconut Grove, Brickell, Key Biscayne and Downtown Miami, in addition to Coral Gables where we have consistently been #1 in the number of homes listed and sold. Welcome, Mia!

51 listings are actively for sale in the market in Coral Gables and Coconut Grove in this price range.  28 went under contract or sold in the last 12 months; of these, 21 are on navigable water. In the Gables and the Grove, the average price per sq.ft. over the last 12 months is almost $430, and $450 per sq.ft. for those listings on the water. 

As it celebrated its 50th anniversary, the law firm moved from Downtown Miami to 396 Alhambra (built by developer Agave Holdings LLC). Many of the firm’s attorneys are Gables residents who are very involved in the community. Pictured: Attorneys Gregory Cesarano and Charles Johnson. Guests Melissa Tolmach, Jennie Lou and Attorney Ben Reid.    

2845 Granada Sold in 2 Days " The service and personal attention we received from Slesnick and Jochem, LLP was exceptional. Jeannett and Ginger are truly a high-caliber, high-energy team. Their knowledge of the local real estate market and their brilliant advertising approach helped us in selling our home. They recommended changes we should make to enhance the appeal to a buyer. We implemented every suggestion even though there was expense involved. We are very happy we did. Our home sold almost immediately for a price higher than we ever expected. This is not our first experience utilizing the expertise of Jeannett Slesnick and GingerJochem. They helped sell our previous home and find the home we just recently sold. In each case the results were outstanding." --written by Frank Ackermann and Julie Stroh

As of last week... Inventory of Single Family Homes in Coral Gables is down to 271. Freddie Mac said about record low 30-year mortgage loan rates:  30-year rate fell last week from 3.53% to 3.49%. It was just over 4.5% one year ago.

The City of Coral Gables, Bacardi U.S.A., Inc. and the Biltmore Hotel together with the Coral Gables Chamber of Commerce, the University of Miami, Doctor’s Hospital and Waste Management, Inc. bring the fireworks back to Coral Gables (event last held in 2006). As Bacardi celebrates 150 years, they are “... proud to be involved with this Independence Day event,” said Mr. Whitmoyer, Bacardi Vice President. Event includes a Greater Miami Symphonic Band concert, concessions, and more. For VIP Cabanas and special hotel room rates, call (305) 913-3246 ext. 2387 or email 4thofJuly@biltmorehotel.com . Wednesday, July 4th Free Admission to Grounds and Parking Biltmore Hotel, 1200 Anastasia Ave. Concert at 7 p.m., Fireworks at 9 p.m. Call 305-446-6800

We have been touting the same information for the past 12 months : Inventory is down to the lowest levels we’ve seen in 6 years. And...in Coral Gables, prices are creeping up for homes listed under $1M. The total number of homes for sale under $1M has dropped to about 39% of the C.G. inventory. Lately, the average list price has equaled the average sales price. In fact, the last 5 homes that Slesnick & Jochem sold between $475,000 and $775,000 went under contract within a week and sold for asking price or up to 7% over asking. None of these were short sales or foreclosures. We typically get multiple offers because our properties are fairly priced. Read the Miami Herald article.

The amount of homes on the market is continuing to decline from a year ago. From May 2011 to May 2012, according to data from Realtor.com , most metropolitan cities’ single family homes inventory fell while prices continued to rise, indicating a real estate upward-bound recovery. Some Florida markets where inventories have dropped are – ·         Tampa-St. Petersburg-Clearwater, Fla.:    -39.76 % ·         Miami-Dade County, Fla.:   -33% ·         Coral Gables, Fla.:   -29.6% Prices rose in Coral Gables by 7.9% and in Miami-Dade County by 12.9%. Visit Slesnick &Jochem for available MLS listings.

The International Studies Preparatory Academy (ISPA) located at 1570 Madruga Ave. celebrated its new Coral Gables location this year. The only program of its kind in the U.S., it gives students the opportunity to take core subjects in a foreign language (French, Italian or Spanish) and uses both U.S. and European Union educational systems, thereby awarding dual diplomas. PHOTOS: Exec. Director of Dade Assoc. of School Administrators Delio Diaz with Coral Gables High Principal Adolfo Costa. Gemma Santos greets guests. Regional Superintendent Alexis Martinez, Principal of ISPA High School Alejandro Perez and former Coral Gables Mayor Don Slesnick.

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. 

The Miami Bach Society will hold its 13th Tropical Baroque Music Festival in several Coral Gables venues from March 3 – 11, 2012. The event kicks off at St. Philip's Episcopal Church, 1142 Anastasia Avenue, Coral Gables with a Concerto Soave from Marseille at 8:00 p.m. Tickets range from $30 to $75; free for students 18 years and under; $5 for college students. For the festival schedule and to buy tickets, call 305-669-1376 or visit www.miamibachsociety.org. The Miami Bach Society is the area’s principal organization performing and presenting classical music written before 1800.

Julia Lancaster and Amanda-Rose Cabrera enjoy the weekly farmers market in front of Gables City Hall. The market is open from 8 a.m. to 2 p.m. at 405 Biltmore Way every Saturday through March 31, 2012.