Absorption Rate in Pinecrest, Fl East of Ludlam Road As a mentioned in Part 1 of my post concerning the Absorption rate of  homes in Pinecrest, Fl, the term absorption rate considers dividing the current number of homes for sale by the rate at which they have been selling. This will in turn help you understand how the inventory of homes on the market affects the sale prices in the Pinecrest Real Estate market. The longer the absorption rate, the longer it takes for a home to sell. This post will show us the absorption rate of homes East of SW 67 Avenue, commonly known as Ludlam, and mostly consisting of homes located on acre properties. There are currently 69 homes on the market listed between $890,000 and $6,499,000 with 31 homes sold in 2008 between $800,000 and $4,150,000. The calcul... 02/14/2009

Effective January 1, 2009, Citizens will not insure any residential structure located within the "Wind-Borne Debris Region" (all of Miami-Dade County)with an insured value of the structure of $750,000.00 or more that does not have shutters or other "opening protectors" on all openings.  A property will be in compliance if the shutters or opening protectors comply with the Florida Building Code in effect at the time of installation.  This means that if you buy a single family home where the structure is worth more the $750,000.00 be sure that it has approved window protection or you might have a difficult time finding wind insurance.   02/11/2009

From our mayor's office: "On Friday, January 30th your Council and I marked the official designation of the Village of Pinecrest as an official Tree City USA - installing a sign so designating us on Ludlam road near Old Cutler Road.    The  event celebrated the  Village of Pinecrest's acceptance into the Tree City USA program, sponsored by the National Arbor Day Foundation  This was not an award as much as a commitment the Village is making to continue to value its trees as an important component of residents' quality of life.  Since the Village's founding, we have planted more than 12,000 trees in public spaces including swales, parks and the U.S. 1 median.  Most of them were planted during an intensive six-year effort in which we invested $250,000 annually in new plantings." 02/09/2009

Part 2: What You Get for the Money: $600,000-$700,000 This proved to be an interesting proposition as you can now buy either a nice single family home in Pinecrest in this price range or a 2 acre parcel with a home to tear down on it. I will show both of these options. The home below is on over 2 acres or 93,218 square foot lot. It has 3 bedrooms and 2 baths and is now currently for rent. According to the Miami-Dade County tax recoreds, the 2 acres sold for $640,200. A builder has sub-divided the property into two separate acres and has plans to build new homes on each property. Below are the renderings of the new home. Pinecrest Acre Lot at 7450 SW 100 Street, Pinecrest, Florida Following are photos of a "Real Home" purchase in the price range of $600,000-$700,000 in Pinecrest. For com... 01/28/2009

Monday, January 19, 2009 Part I: What You Get for the Money: $500,000-$550,000 I am always browsing real estate blogs. Yesterday I was browsing and stumbled across Anne Rain’s blog series "What You Get for the Money". I loved the idea and thought that I too would try this type of series, which she based off the HGTV's show, "What You Get for the Money". Maybe you’re familiar with it. If not, it compares three different cities across the nation and shows what type of home you can get in various price points. It's a great way to show different property values. I will not be comparing different cities, rather this series will compare property values in Pinecrest. I'll start with one of the least expensive price ranges in Pinecrest. Here's what you can get for the price range of $500,000 - ... 01/18/2009

A truly wonderful winter tradition in Pinecrest is the Pinecrest Gardner’s Farmers Market located at 8287 SW 124 Street.  It has grown substantially through the years and now fills the entire parking lot of Gardner’s Market. I believe the Farmers Market is now organized by the Market Company, which is a  special events and farmers market production company. If this is so, it was a terrific addition. Open every Sunday through mid-April, a variety of venders sell vegetables, fruits, plants, orchids, oils, herbs, jams, salsas and baked goods. Bee Heaven Farm~Pikarco, occupies the west side of the parking lot selling only organically grown fruits and vegetables all grown locally. They are part of a group known as “Redland Organics, a of group of local organic and sustainable growers workin... 01/11/2009

Ah...Winter in Miami! We have arts festivals, farmer's markets, ballet, marathons, 1/2 marathans and so much more. I will post some of my favorite happenings in the area each week here, so keep coming back or subscribe to my feed or email me at lynn@lynncromer.com to get on my list so you don't miss out on anything! 58th Annual Holtz Children’s Hospital Beaux Arts Festival Jan. 10 & 11th Grounds of University of Miami (map)  One of the nicest arts festival in Miami. Smaller than the Coconut Grove Festival in size, it is still strong on artists. The setting is beautiful, under large canopied trees on the campus of University of Miami. Starts at 10am both days.Beaux Arts link   Cooking Class Ortanique on the Mile (map) Learn the secrets behind Chef Cindy Hutson's Cuisine of the restaurant... 01/04/2009

It's certainly been a tough year and I can't say that I'm sorry to see the year over. Although we are experiencing gorgeous 70 degree weather, which is what has always tempted folks to flock to Miami, we have had our share of foreclosures and big box store closings. Prices are way down, which should be a positive for buying in the new year. Even in the luxury markets of Pinecrest & Coral Gables, once thought recession proof, prices are  down...some as far as 30% from their peak.  But the foreclosures in this market are fewer than other Miami area. The median sales price for a 4 bedroom home in Pinecrest hovers close to $900,000. Pinecrest Recently Sold Homes The median sales price for a 4 bedroom home in Coral Gables hovers around $775,000 , down 19% from 3 months (trends from Trulia.co... 01/01/2009

At my office meeting 2 days ago at Coldwell Banker in Pinecrest, the most astonishing news was made perfectly clear. Effective January 1, 2009, new homeowners seeking insurance for homes with a replacement cost value at $750,000 or more, located in the "wind-borne debris region," will be required to have all openings outfitted with shutters or opening protections to be eligible for coverage from Citizens. Also, if you want to renew with current wind storm policy with Citizens, you will also be required to meet these requirements by your policy renewal date, or no later than June 30, 2009. So, if you don't have shutters on your home and rely on Citizens for your windstorm policy, they WILL NOT renew your policy. In case you've forgotten, Citizens is the State of Florida's homeowners' ins... 12/04/2008

Our Big, Beautiful and Bright Pinecrest Library is now open!  I visited last night and was so pleased with the facilities.  An adult book club has formed; it will meet the first Wednesday of each month at 7:00 p.m. at the library.  If you like to read and share - sign up; I did! 12/04/2008

The Realtor Association of Greater Miami & The Beaches has posed this question to its members and Realtors are voting on it: Do you think the county appraisers should consider SHORT SALES when determining a property's value?   My answer posted on the Board's site is: If you're talking about a closed short sale being used as a comparable, then absolutely, my answer is an appraiser should use it. But many appraisers use Active listings to help them determine value when there are not enough sales in an area. Then my answer is absolutely no, because an active short sale is not an indication whether a bank will accept that price for the property. On the other hand, an active foreclosure could be used, as we know that a bank would accept that asking price for the property.   40% of the respon... 12/03/2008

Village of Pinecrest Real EstateReal Estate for Sale and Rent in Pinecrest FloridaPhilippe Diener - Realtor Real Estate specialists for the Miami Pinecrest Village area.The Pinecrest Real Estate industry is becoming more sophisticated and challenging every day, you need a professional that understands the Pinecrest Real Estate and is positioned to stay ahead of the game. I go the extra mile to help you achieve your goals. That's why I constantly research and involved in the Pinecrest Real Estate market. 10/14/2008

Village of Pinecrest Real Estate among the most desirable areas to live in South Florida, Pinecrest is home to approximately 19,460 residents and is conveniently located twenty minutes south of Downtown Miami and Miami International Airport.  Pinecrest encompasses approximately eight square miles and is recognized as one of the most beautiful residential areas in South Florida.  The Village's appeal as a desirable place to live is attributed to its natural beauty and area schools which are singled out as the best in the county.  Residents enjoy a superior quality of life in a unique hometown rural atmosphere and also benefit from the many amenities of the Greater Miami area. Enter website: Village of Pinecrest Real Estate    Pinecrest was incorporated on March 12, 1996 and is one of th... 09/24/2008

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... 08/29/2008

Vizcaya opens the doors for free this Sunday August 31st. If you are visiting Miami Florida come see Vizcaya it is a National Historic Landmark; it is also a museum owned by Miami-Dade County and accredited by the American Association of Museums. Vizcaya is open to the public 364 days each year (closed Christmas Day); I invite you to visit this serene and stunningly beautiful retreat in the heart of Miami. Built by agricultural industrialist James Deering in 1916, Vizcaya Museum & Gardens features a main house, ten acres of formal gardens, a hardwood hammock, and soon-to-be-restored historic village.    08/24/2008

A 1031 exchange allows you to sell one or more investment properties (not your primary residence) and purchase one or more investment properties, allowing for the deferment of capital gain taxes that would otherwise have been due on the first sale. It's a rollover of the equity in your investment properties allowing you to continue building wealth while deferring the tax. If you think you would like to take advantage of a 1031 Exchange or if you have any questions, feel free to give me a call.  08/24/2008

One of A Kind Pinecrest Florida Beauty! (south Miami) (edit/delete) 6131 SW 128 ST, Pinecrest, FL send this to a friend One of a kind Pinecrest beauty! A home that will meet more than your expections! Elaborage crown moldings, impact doors! print this page 7BR/7.5BA Single Family House   offered at $3,900,000 Year Built 2003 Sq Footage 7,934 Bedrooms 7 Bathrooms 7 full, 2 partial Floors 2 Parking 3 Car garage Lot Size 38,768 sqft HOA/Maint $0 per month DESCRIPTION You will not be disappointed with this Pinecrest beauty! Plenty of room for entertaining even a outside Cabana! No detail spared!   Photo 1 click on thumbnail to enlarge PROPERTY FEATURES Central A/C Central heat Fireplace High/Vaulted ceiling Walk-in closet Hardwood floor Tile floor Family room Living room Bonus/Rec room Offi... 08/23/2008

The village of Pinecrest, Florida will need a new Mayor. Pinecrest mayor Gary Metzner has stated to the Miami Herald he will not seek   re- election this November. Matzner finished overseeing the construction of the new Library and community center. He is looking forward to spending more time with his family. If you would like to throw your name in the hat for Mayor you only have until August 15Th to do so. I would imagine running this small village is a little more difficult than it looks. 08/08/2008

Pinecrest is getting some more electronic technology! Okay, we are getting a Best Buy. Right there on U.S.1 and 112th street in the Pinecrest Plaza. It is going in the old rug store, which is being remodeled. Don't run down there just yet, it is still going to take a little time to get it remodeled and stocked (sometimes this fall). If you are looking for employment opportunities there is a temporary office set up next to EWM Realtors U.S.1 and 128th street. Go in and check it out! 07/31/2008

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.      07/31/2008