S & J Journal

Late last month , Redfin released a quarterly survey of homebuyer attitudes that included answers from almost 1,000 home shoppers in 19 cities...It appears buyers are frustrated by having to bid  against other buyers on homes, since inventory is low in some markets.  People are having to compete for properties and 70% of buyers said they’d encountered multiple-bid scenarios. The survey ran from August 16-22. Interesting survey findings: ·          46% believe now is a good time to buy, down from 56% in the first quarter ·          32% believe now is a good time to sell, up from 13% during the first quarter ·          61% believe prices will increase, up from 32% during the first quarter Read more: http://www.floridarealtors.org/NewsAndEvents/article.cfm?p=5&id=280578

Florida’s Office of Economic and Demographic Research released a report last week that shows positive news for the state’s real estate market. Although real estate is contributing less to the Gross Domestic Product (GDP) as compared to 2006 and prior, it is still currently the state’s largest industry, government being Florida’s second-largest industry. Read more at the Jacksonville Daily Record . And don’t forget to check back here at our blog often, where Slesnick & Jochem provide interesting real estate tidbits concerning Coral Gables, its environs, and more.

We are fast at work getting a new and improved website up and ready for next month. Check back with us at http://www.slesnick.net/ to see our new look.

For several years, Coral Gables has seen the inventory of single-family homes decline steadily. Home sales in the $1 million to $2 million range are rising, probably as a result of the disappearing inventory of lower priced properties. There are currently about 275 single-family homes for sale in the Gables, and of these, 172 are priced above a million. Compared to last year at this time, the $1M-2M home sales increased by 150% and inventory in that range is down by 30% (pended listings have increased by 60%). As demand continues to rise, prices are beginning to climb. Now is a good time to shop. Don’t waste another minute. See our listings at http://www.slesnick.net/ .

Recently, the United States Southern Command, here in Miami, had a premier screening of the movie "Red Tails" with Cuba Gooding, Jr. The movie about the Tuskegee Airmen, a group of African American pilots during World War II, opens at local theaters January 20th and has received positive reviews for its inspirational message of resilience. The Alabama Crimson Tide football team saw the movie prior to the BCS national championship game; Coach Nick Saban quoted the motto of the Red Tails: "the last plane, the last bullet, the last man, the last minute, we fight." It seems the Airmen inspired a whole football team to greatness. Pictured: Air Force Gen. Douglas Fraser and Cuba Gooding, Jr.; Original Tuskegee Airman Eldridge Williams and Gooding. Photo Credit: Spec. Scott Riley, U.S. Army.

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.

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.

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