S & J Journal

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.