Pinecrest Florida Real Estate and More...

As you can see from this seven-year history of key real estate statistics, the Pinecrest Florida real estate market, the market in which I specialize in, was pretty stable 2011.

People are buying; 186 listed single family homes sold in Pinecrest in 2011.  Homes are selling - they just have to be priced right for the location and condition. 

In 2011 closed sale prices ranged from $240,000 to $4,000,000.  The average sales price of a Pinecrest single family home in 2011 was $936,586.00; that is down 10% from 2010.  70% of the Pinecrest single family homes sold for under one million dollars, 30% for over.

Of the 186 properties sold, 16 were short sales, selling from $240,000 to $1,922,000; 15 were foreclosed properties selling from $270,299 - $1,850,000.  17% of the Pinecrest sales were distressed sales (short sale/foreclosure); in Miami-Dade County approximately 58% of the single family home sales were distressed sales.

We still have a significant number of homes being sold for under $600,000.  So if you thought Pinecrest Florida real estate was out of your range - maybe not!  If you want me to send you property listings, just let me know by visiting PinecrestListings.com. 

As always, if you have any questions, just feel free to give me a call.

10 homes sold in Pinecrest in December.

The lowest closed sale price was $451,050 and the highest was $2,300,000.

As of December 31st  there were 151 Pinecrest FL homes for sale with 35 homes under contract pending sale.

Homes Sold in Pinecrest FL in November: click here for pictures and details.

Happy New Years To All! 

Pinecrest is best in South Florida for quality of life.

South Florida Business Journal by Kevin Gale, Editor in Chief

Date: Tuesday, December 6, 2011, 2:38pm EST

Pinecrest, Key Biscayne, Parkland, Coral Gables and Weston are among the 10 best places in Florida when it comes to quality of life, according to a new On Numbers analysis by The Business Journals.

The 20-part rating formula includes strong economic bases, housing stocks and effective educational systems.

No major city factored in the top 10 of the index for Florida.  Weston, with a population of 64,148, was the largest city.

Pinecrest, which ranked second statewide behind Central Florida's Lake Butler, has a median household income of $107,756 and a 2.34 percent unemployment rate for those ages 25 to 64.  The median housing value is $827,200.

Nearly all of the adults in the city (97.13 percent) have a high school degree, while more than two-thirds (67.04 percent) have a bachelor's degree and a one-third (33.59 percent) have an advanced degree.

Latin Spice – The Hottest Food Festival in Town!

Saturday, December 10, 2011

 Pinecrest Gardens ~ 11000 SW 57th Avenue, Pinecrest (Miami) Florida

Latin Spice Festival Part 1: Noon - 6:00 p.m.

25 booths featuring delicious Latin Cuisine

(Cuba, Mexico, Brazil, Puerto Rico, Nicaragua, Venezuela, Colombia, etc)

Wine and Spirits from Latin America

Shop the colorful displays of arts and crafts

Enjoy a day of music, dancing and entertainment

Play dominos

Cigar Rolling

Best Dish in Show Competition

General admission $5  ~  Children 12 and under free

Latin Spice Part 2: 6:30 p.m. ~ ?
 

Chino Nuñez Orchestra "In the Spirit of Salsa"  
 

Party On ~ Hot Dancers and Hotter Music ~ Bring Comfortable Shoes!  The evening heats up as Grammy Award Winner, “Chino” Nuñez and his Salsa Band set the state on fire performing “In the Spirit of Salsa”, with a special dance presentation from "The Casa Salsa Dance Company" led by Chris & Monica Espinola.  It's like a night at the Tropicana.

 Tickets for this extraordinary show are $25

(includes admission to the food festival above)

See you there!

12 homes sold in Pinecrest in November.

The lowest closed sale price was $270,299 and the highest was $1,100,000.

As of November 30th there were 176 Pinecrest FL homes for sale with 32 homes under contract pending sale.

I wish you all a very Happy Holiday Season!

I am frequently asked, "is this property in a flood zone?".  To my surprise, Florida is not one of the top 10 states to file a flood insurance claim!

National Flood Insurance Program Statistics:

• Floods are the #1 most common natural disaster in the United States.
• Over the past 10 years (2001-2010) the average flood insurance claim paid in the US was nearly $48,000 per year.
• Over the past 10 years (2001-2010), flood insurance claims averaged just over $2.6 billion.
• The average flood insurance policy is about $600 per year.
• People outside of high-risk areas file over 20% of NFIP claims and receive one-third of disaster assistance for flooding.
• The NFIP paid $709 million in flood insurance claims to homeowners, business owners, and renters in 2010.

    State:           Total Number of 2010 Claims

New Jersey                     4,690

Tennessee                     4,209

New York                        2,210

Massachusetts                1,936

Texas                            1,894

Illinois                           1,747

Rhode Island                  1,445

Kentucky                        1,120

North Carolina                 1,104

Pennsylvania                   1,094

Latin Spice at Pinecrest Gardens

 Indulge your appetite for Latin culture at this unique and delicious festival.

 Saturday, December 10^th

Noon – 6:00pm

Pinecrest Gardens 11000 Red Road, Pinecrest, FL

 Food, music, arts and crafts from Central and South America, Portugal and Spain.

This is a one-of-a-kind festival that celebrates all Latin cultures in one extraordinary setting.

 Admission $5.00  ~  Children 12 and under free

Then the evening heats up as Grammy Award Winner, “Chino” Nuñez and his Salsa Band set the Banyan Bowl on fire!

 Hot Dancers and Hotter Music; this will be one concert that will keep you asking for more – you won’t be able to stay in your seat!

 Salsa Dance Show  6:30pm  ~  Concert  8:00pm

Tickets $25.00 includes Festival Admission

See YOU There!

Realtor.com has just published Florida Markets Dominate REALTOR.com Top Ten Turnaround Report.  I am currently working on the Pinecrest Florida year end real estate market report and I see Pinecrest Florida is have another strong real estate sales year.  Year-to-date, only 18% of homes sold in Pinecrest have been short sales or foreclosures.  This is way below Miami-Dade County where 58% of the homes sold year-to-date have been distressed sales.

Here is an excerpt of the REALTOR.com report:

Though the past four years have seen many cities suffering from large numbers of foreclosures and a loss in home values, ten of these real estate markets are now leading the nation towards a general recovery and stability of the housing sector.

Realtor.com’s Top 10 Turnaround Town Report, based on third quarter 2011 data, includes six Florida markets: Miami, Orlando, Fort Myers-Cape Coral, Fort Lauderdale, Sarasota-Bradenton, and Lakeland-Winter Haven.

Each of these markets has experienced positive year-over-year median price appreciation, reductions in year-over-year median age of inventory and inventory counts, while also experiencing lower unemployment rates on a year-over-year basis.  Florida’s success can also be tied to foreign buyers; the number of foreign buyers purchasing homes there increased from 10 percent in 2007 to 31 percent in 2011.

Miami, FL: The number one town on the report, Miami has gone from being one of the first victims of the subprime crash to having a healthy inventory that is only half the size from a year ago.  Today, Miami is only reporting one foreclosure for every 407 homes, compared to the national rate of one per every 213.  And, condo sales have increased 79 percent in the first five months of this year, largely due to an influx of foreign investors.

Read more: Florida Markets Dominate REALTOR.com Top Ten Turnaround Report | REALTOR.com® Blogs 

What a fun and interesting site! 

Here at the Realtor.com Community Report site, you enter a primary zip code to view a report, and for comparison, you can enter a second zip code. 

You can compare population, education, income, cost of living, crime, climate, etc.

Try it…you’ll like it!

12 homes sold in Pinecrest in October.

The lowest closed sale price was $280,000 and the highest was $2,000,000.

As of October 31st there were 174 Pinecrest FL homes for sale with 32 homes under contract pending sale.

Contrary to popular belief, and I have the numbers to prove it, Pinecrest real estate does not slow down during the holiday season!  Interest rates are at historic lows, excellent time to put your property on the market.  Call me and let's get together to discuss the pricing and marketing of your property...and let's get it SOLD!