Pinecrest Florida Real Estate and More...

Pinecrest FL Real Estate Market Report - January 2012

Sat, 04 Feb 2012 18:56:33 -0500

Pinecrest Florida Real Estate Sales Transactions

The Village of Pinecrest Florida is a beautiful eight square mile city within Miami-Dade County.

2012

Homes Sold

Lowest Sales Price

Highest Sales Price

Pinecrest Homes For Sale

Homes Under Contract

Jan

$348,500

$1,800,000

152

Homes Sold in Pinecrest last month; click here for pictures and details.

Marie Story

Broker Associate, ABR,CIPS,GRI

Coldwell Banker Residential Real Estate

12651 South Dixie Hwy., Pinecrest (Miami), FL 33156

(305) 776-0010

Pinecrest Florida ~ My Website ~ Pinecrest Homes For Sale

Pinecrest FL Real Estate 2011 Year End Market Report

Wed, 25 Jan 2012 15:57:57 -0500

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

Sold Price Range

2006

2007

2008

2009

2010

2011

<599,999

600,000 – 650,999

651,000 – 699,999

700,000 – 750,999

751,000 – 799,999

800,000 – 850,999

851,000 – 899,999

900,000 – 950,999

951,000 – 999,999

1M – 1.5M

1,500,001 – 1,999,999

2M – 2.5M

2,500,001 – 2, 999,999

3M – 3.5M

3,500,001 – 3,999,999

4M - 4.5M

4.500,001 – 4,999,999

Over 5M

Total Number of Sales

167

150

136

182

189

187

Average Sales Price

$1,333,104

$1,454,808

$1,116,094

$976,315

$1,039,938

$936,586

Median Sales Price

$1,060,000

$1,100,000

$ 877,500

$723,325

$ 750,000

$675,000

People are buying; 187 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 approximately 10% form 2010. 70% of the Pinecrest single family homes sold for under one million dollars, 30% for over.

Of the 187 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 $599,999. 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.

Marie Story

Broker Associate, ABR,CIPS,GRI

Coldwell Banker Residential Real Estate

12651 South Dixie Hwy., Pinecrest (Miami), FL 33156

(305) 776-0010

Pinecrest Florida ~ My Website ~ Pinecrest Homes For Sale

Pinecrest FL Real Estate Market Report - December 2011

Thu, 05 Jan 2012 10:50:09 -0500

Pinecrest FL Real Estate Sales Transactions – December 2011

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.

Happy New Years To All!

Marie Story

Broker Associate, ABR,CIPS,GRI

Coldwell Banker Residential Real Estate

12651 South Dixie Hwy., Pinecrest (Miami), FL 33156

(305) 776-0010

Pinecrest Florida ~ My Website ~ Pinecrest Homes For Sale

Pinecrest Is Best In South Florida For Quality Of Life

Wed, 07 Dec 2011 09:14:34 -0500

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.

Marie Story

Broker Associate, ABR,CIPS,GRI

Coldwell Banker Residential Real Estate

12651 South Dixie Hwy., Pinecrest (Miami), FL 33156

(305) 776-0010

Pinecrest Florida ~ My Website ~ Pinecrest Homes For Sale

Pinecrest FL Foreclosures

Thu, 21 Jan 2010 14:10:54 -0500

In 2009 there were 25 listed foreclosed properties sold in Pinecrest FL.

If you are interested in a Pinecrest FL foreclosure, just let me know - I can help you with that!

Marie Story

Broker Associate, ABR,CIPS,GRI

Coldwell Banker Residential Real Estate

12651 South Dixie Hwy., Pinecrest (Miami), FL 33156

(305) 776-0010

Pinecrest Florida ~ My Website ~ Pinecrest Homes For Sale

Short Sale and Foreclosed Properties in Pinecrest Florida - July

Thu, 16 Jul 2009 18:10:01 -0400

Yes... there are short sales and foreclosed property listing in Pinecrest Florida. Here is a snapshot of today's, July 16, 2009, short sale and foreclosed listings.

There are 17 short sale properties and 1 foreclosed property.

If you have any questions, just give me a call, (305) 776-0010 or if you want to search for properties yourself click here: Pinecrest Listings

Marie Story

Broker Associate, ABR,CIPS,GRI

Coldwell Banker Residential Real Estate

12651 South Dixie Hwy., Pinecrest (Miami), FL 33156

(305) 776-0010

Pinecrest Florida ~ My Website ~ Pinecrest Homes For Sale

Zestimates & Others

Mon, 24 Sep 2007 21:26:33 -0400

Folks, please be careful when using Zestimate or any other computer generated valuation system. These programs can only use raw numbers and that is OK to get a general idea of what your property is worth. They are fun and can usually give you a ballpark figure of your property's value.

These programs have never been to your neighborhood, hasn't seen your property - is it on a busy street, don't take into account whether your property is updated or not, and so many other factors that need to be taken into consideration when pricing a property. Real estate is a local business and pricing isn't totally black and white. If you're going to put your property on the market for sale, you need a professionals analysis of your property; either by hiring an appraiser or an experienced real estate agent.

Marie Story

Broker Associate, ABR,CIPS,GRI

Coldwell Banker Residential Real Estate

12651 South Dixie Hwy., Pinecrest (Miami), FL 33156

(305) 776-0010

Pinecrest Florida ~ My Website ~ Pinecrest Homes For Sale

Zillow and Zestimates

Sun, 07 Mar 2010 17:46:22 -0500

This week I went on a listing appointment where Zillow's zestimate has the property valued at $1,986,500 - and the homeowner showed it to me.

I specialize in the Pinecrest Florida real estate market, and after a thorough analysis, I showed the homeowner that their property would currently sell for $650,000 to $700,000.

Where does Zillow get these numbers? Not even at the height of the real estate market would that property have appraised for $1,986,500!

Homeowners, Zillow is a "fun" site, treat it that way. If you really want to know what your property's current market value is, hire an appraiser or speak with a real estate agent that specializes in your area.

Marie Story

Broker Associate, ABR,CIPS,GRI

Coldwell Banker Residential Real Estate

12651 South Dixie Hwy., Pinecrest (Miami), FL 33156

(305) 776-0010

Pinecrest Florida ~ My Website ~ Pinecrest Homes For Sale

Amendment 1 and You

Thu, 31 Jul 2008 08:20:55 -0400

If you are a Florida homeowner and are thinking of moving to another home within the state of Florida, now is a great time to do so. Since Amendment 1 passed you are allowed to take your property tax cap with you when you move, while also doubling the previous exemption for most homestead properties to $50,000.

With interest rates still low and the selection of homes plentiful, this just might be the right time for you to make that move. If you have any questions, please feel free to give me a call, 305-776-0010.

Marie Story

Broker Associate, ABR,CIPS,GRI

Coldwell Banker Residential Real Estate

12651 South Dixie Hwy., Pinecrest (Miami), FL 33156

(305) 776-0010

Pinecrest Florida ~ My Website ~ Pinecrest Homes For Sale

A Picture (Chart) Can Say 1,000 Words

Thu, 25 Jun 2009 08:00:13 -0400

Marie Story

Broker Associate, ABR,CIPS,GRI

Coldwell Banker Residential Real Estate

12651 South Dixie Hwy., Pinecrest (Miami), FL 33156

(305) 776-0010

Pinecrest Florida ~ My Website ~ Pinecrest Homes For Sale

Chinese Drywall - Not Always Being Disclosed

Fri, 26 Jun 2009 14:59:06 -0400

Between 2004 and 2007 some builders were using "Chinese Drywall" in the construction of new homes. This drywall has been found to emit sulfide gases that can corrode electrical wiring, components of air-conditioning systems and other household appliances. It is extremely expensive to correct and it is questionable if a home owner's policy will cover it. Currently I am not aware of what this gas can or has been doing to a person's health living in one of these homes. But if it's doing this to these systems I just can't imagine what it can do to someone's lungs.

If a homeowner knows that his property has Chinese Drywall he, and his real estate agent, must disclose it to any potential Buyer. The reason I write this today is because it has come to my knowledge that not all homeowners and agents are disclosing this and unsuspecting Buyers are buying these homes.

Let's say that a house is put on the market and goes under contract. The Buyer has an inspection done and the inspection reveals Chinese Drywall. This condition is not acceptable to the Buyer and the Buyer withdraws his offer. Now at this point, both the Seller and real estate agent know the house has Chinese Drywall. The house gets put back on the market with no disclosure of this condition; hoping that the next Buyer doesn't have an inspection made; after all the house looks so nice, just painted, new air conditioning system, etc, and at a terrific price!

Now when this unsuspecting Buyer buys this house and some time down the road the condition becomes evident, it will be hard for him to prove that the Seller and the real estate agent had knowledge of the Chinese Drywall.

So how do I know all this; a home inspector told me! He said to me that he'll inspect a house, find Chinese Drywall, the contract falls through and some time later he'll drive by the house and children are playing outside. He said that that makes him feel so bad because he is almost sure that those Buyers didn't get the house inspected and that the Seller didn't disclose his knowledge of the Chinese Drywall.

What should we all take away from this; if you are buying a home built between 2004 and 2007 please get it inspected. You might not smell or see anything suspicious but you still need an inspector to get up in the attic and inspect that drywall, look at the electrical system, get into the air conditioning system. Folks, the $400.000 or so that the inspection will cost you can save you a ton of misery.

Marie Story

Broker Associate, ABR,CIPS,GRI

Coldwell Banker Residential Real Estate

12651 South Dixie Hwy., Pinecrest (Miami), FL 33156

(305) 776-0010

Pinecrest Florida ~ My Website ~ Pinecrest Homes For Sale

To Buy or to Rent, That is the question

Thu, 29 Nov 2007 20:35:41 -0500

In these times I get asked that question so often. If your rent would be $1,000 to maybe $2,000 per month, renting would be OK. But in Pinecrest, the average lease is $5,000 per month. When clients ask me whether to rent or buy, first I ask them if they plan on staying in the area for at least two years. If they are, I let them know that a years' lease will cost them $60,000.

When you take into account what leasing will cost and the tax advantages of owning your home. It usually makes financial sense to buy - even if the market goes down a bit more, you will probably still come out ahead. And who can put a price tag on the pleasure of home ownership!

Marie Story

Broker Associate, ABR,CIPS,GRI

Coldwell Banker Residential Real Estate

12651 South Dixie Hwy., Pinecrest (Miami), FL 33156

(305) 776-0010

Pinecrest Florida ~ My Website ~ Pinecrest Homes For Sale

Home Buyers Safety Net

Fri, 29 Aug 2008 09:56:05 -0400

Yes, there are some homes currently for sale that are overpriced for today's market. As a Buyer, you have a couple of safety nets to protect you from overpaying for a property.

First, make sure you are working with an agent who knows the area you are interested in very well. Your agent will have a good idea of what a property is worth and also be able to provide you with a comparable market analysis of the property you are considering.

Secondly, your mortgage company will send out an appraiser to appraise the property you have put a contract on. With all the foreclosures, short sales and mortgage fraud situations we are dealing with now; it is not very likely that an appraiser will appraise a property for more than what it's worth in today's market! Should a property not appraise at or above the contract price, you do not have to go forward with the purchase or you and the Seller can renegotiate the purchase price.

Marie Story

Broker Associate, ABR,CIPS,GRI

Coldwell Banker Residential Real Estate

12651 South Dixie Hwy., Pinecrest (Miami), FL 33156

(305) 776-0010

Pinecrest Florida ~ My Website ~ Pinecrest Homes For Sale

Homebuyer Tax Credit

Mon, 25 Jan 2010 16:08:21 -0500

Congress has extended and expanded the homebuyer tax credit. This tax credit is for first-time homebuyers and existing homeowners!

As most everyone knows, first-time home Buyers receive a tax credit of $8,000. The definition of a first-time home Buyer is someone who has not had an interest in a principal residence for 3 years prior to the purchase.

But, there is also a tax credit repeat Buyers; someone who is not a first-time home Buyer. The tax credit for the repeat Buyer is $6,500. A current homeowner who has lived 5 consecutive years out of the last 8 in their current home is eligible.

There is no requirement that the repeat Buyer sell their current home or that the new home has to be of a higher value than the current home.

To qualify for the tax credit, Buyers must have a written, signed binding contract in effect by April 30, 2010 and close on the home by June 30, 2010.

Tax credit eligibility is subject to income limits of $125,000 for single Buyers and $225,000 for couples. In addition, the sale price of the home being purchased can not exceed $800,000.

There is no obligation to pay back this credit. If the home ceases to be your principal residence within 36 months from the date of purchase, then the full amount of the credit received becomes due on the return for the year the home ceased being your principal residence.

At tax filing time, you must attach documentation of purchase to the tax return.

If you have any questions or are interested in Pinecrest, FL real estate - give me a call.

Marie Story

Broker Associate, ABR,CIPS,GRI

Coldwell Banker Residential Real Estate

12651 South Dixie Hwy., Pinecrest (Miami), FL 33156

(305) 776-0010

Pinecrest Florida ~ My Website ~ Pinecrest Homes For Sale

Pinecrest Gardens in Pinecrest Florida

Wed, 24 Feb 2010 17:12:14 -0500

Pinecrest Gardens in Pinecrest Florida , listed in the National Register of Historic Places, is one of the most beautiful public parks in South Florida; it's located at 11000 Red Road,Pinecrest Florida.

Pinecrest Gardens is adjacent to the Pinecrest library and community center. Pinecrest Gardens is located on what used to be Parrott Jungle. Parrot Jungle moved to Watson Island; which is on the causeway between Miami and Miami Beach. I like to spend time walking around Pinecrest Gardens; it's a quiet lush tropical oasis.

Several clubs meet at Pinecrest Gardens and there are activities held there year round. Facilities are available to rent for private functions such as meetings, birthday parties, wedding, etc. I held my niece's 10th birthday party at Pinecrest Gardens; there are some nice children's play areas there too.

On Sunday mornings, the Pinecrest Florida Farmers Market is held in the parking lot of Pinecrest Gardens.

There are homes for sale in Pinecrest Florida within walking distance of Pinecrest Gardens. Just imagine, being able to take a daily walk through these gardens!

Marie Story

Broker Associate, ABR,CIPS,GRI

Coldwell Banker Residential Real Estate

12651 South Dixie Hwy., Pinecrest (Miami), FL 33156

(305) 776-0010

Pinecrest Florida ~ My Website ~ Pinecrest Homes For Sale