Pinecrest Florida Real Estate and More...

Today I attended the Coldwell Banker Previews Luxury Symposium; a training and educational event for the luxury property specialists.  I thought the following profiles were interesting.

The Luxury Home Seller

• They’ve owned their current home for 8.8 years vs. 6 years.
• The majority are under 55 and 89% are married.
• Often self-made (6% inherited 20% or more of their net worth).
• Most are top executives, self-employed or business owners.
• They are keenly aware of what it takes to be successful and are typically hands-on with strong viewpoints.
• They trust their own instincts, are driven to succeed.
• They maintain a middle-class outlook and are pragmatic toward money and investments.

The Luxury Home Buyer

• 31% are cash buyers
• 35% are retired (Millionaires)
• 36% are business owners (Millionaires)
• 67% are 35-55
• 88% are married
• Their most important home feature is a “Designer Kitchen”

In Miami-Dade County, a luxury home is a property over one million dollars; last year 34% of the sales in Pinecrest Florida were for over $1,000,000.

There are several brand new luxury homes in Pinecrest Florida for sale; in a wide price range.

Currently our least expensive new luxury home in Pinecrest Florida is this 5,904 square foot, 6 bedroom, 6 bath two story Mediterranean pool home; it sits on a 16,895 square foot lot.  It's listed at $1,550,000.

The most expensive luxury home in Pinecrest Florida currently for sale is this 11,393 square foot home on an acre lot with a small lake out back; left.  The home has 7 bedrooms, 6 1/2 baths, two family rooms, media room, library, billiard room and a 3-car garage.  It is listed at $3,600,000.

Here I want to update the Luxury Homes in Pinecrest Florida post I wrote in August of 2009.  There was a total of 42 luxury homes sold Pinecrest Florida in 2009.

As of today, there have already been 3 luxury homes sold in Pinecrest Florida this year and 8 under contract.  This is a good sign that the Pinecrest Florida luxury home market is doing well.

If you are interested in a luxury home in Pinecrest Florida; just let me know.

I'm your "Pinecrest Florida Real Estate Specialist"

Luxury homes in Pinecrest Florida are starting to sell again!  Typically the luxury market is the last to drop in price and the first to recover.  I feel a sense of optimism and confidence in the economic recovery is stirring this market.

In writing this update I first had to define what a luxury home in Pinecrest Florida is.  I first thought it would be a home built after 1995.  After doing some research I found some very luxurious estates built well before that; so I couldn't use age to define the luxury market in Pinecrest Florida.  So I figured, let's use price.  With that parameter I found small, old homes on acre lots selling for well over one million dollars; that criteria was out.  So I decided to define a luxury home in Pinecrest Florida as a home with over five thousand square feet of living space; that seems to be a good parameter.

Using a minimum five thousand square feet of living space as a criteria for defining a luxury home in Pinecrest Florida, these are how many have sold in the past five years: 2005 - 7 sold, 2006 - 41 sold, 2007 - 51 sold, 2008 - 30 sold, and in the first half of  2009 - 17 have sold and 7 are under contract to close.  At this rate 2009 will surpass 2008.

The luxury home Buyer, as most all other home Buyers, wants to see "value" in their purchase.  As an example let's look at, La Maison de Provence in Pinecrest Florida.  It went on the market in June of 2007 for $4,700,000.  It was reduced to $4,500,000 then to $4,200,000 then to $3,998,000 and sold in June of 2009 for $3,650,000.

On of my favorite luxury home in Pinecrest Florida currently for sale is this Mediterranean estate.

It features six bedrooms, seven and a half baths, beautiful formal areas, a library/office, a huge game room with wet bar and a gorgeous back yard; 9,175 square feet of living space on a 45,302 square foot lot on Ludlam Road. 

It is currently on the market for $3,390,000; originally listed for $4,250,000.

If a luxury home in Pinecrest Florida is in your future, please give me a call at 305-776-0010, Your Pinecrest Florida Real Estate Specialist.