S & J Journal

Listen to Jeannett Slesnick and Ginger Jochem on the Coral Gables Real Estate Today Radio Show on 880 AM The Biz every Wednesday from 1 to 1:30 p.m. This past week, Jeannett and Ginger gave a glimpse of the cost of real estate around the world. The price per square foot in some of the world’s biggest cities will amaze you. See how Miami compares below… LOWEST WORLDWIDE Santiago, CHILE $160/sq.ft. LOWEST USA Houston, TX $54/sq.ft. MEDIAN WORLDWIDE Athens, GREECE $890/sq.ft. MEDIAN USA Chicago, IL $158/sq.ft. (Miami, FL ranks nearby at $178/sq.ft. Coral Gables’ price per square foot is $371) HIGHEST WORLDWIDE Paris, FRANCE $3,287/sq.ft. HIGHEST USA New York, NY $1,068/sq.ft. Prices in U.S. Dollars. Figures based on 2011 MLX data and Credit Sesame Blog.

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.

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./