Planet Miami Real Estate

Summertime Money-Saving Tips

I think we all open that bill from Florida Power and Light with trepidation. As the summer heat endures we depend on our air conditioners like a fish does water, and for that, we pay!

There are many ways to fight the bill that are free or very inexpensive we all can do. And there are some bigger-ticket actions we can take.

Here are some no or low-cost measures for keeping the electric bill lower:

• Turn things OFF! We have so many appliances and electronics that sit in “ready” mode that we don’t use every day. Think about what doesn’t need to be plugged in all the time. A great example is your cellphone charger which always draws a trickle of power.
• Turn off lights and ceiling fans when nobody is in the room. The slight boost when turned back on is negligible and equals less than staying on all the time. And make sure those fans are blowing air DOWN.
• Lock your windows. Most windows have a weather seal no matter what type they are, and locking them makes the contact tighter. Also, make sure the window and door seals are in good shape and not worn down or misshapen.
• Close a/c registers in unused rooms, or at least lessen the flow of cool air into those rooms.
• Adjust drapes and shades to keep direct sunlight out of the house.
• Hang-dry your laundry outdoors on sunny days.
• Close the damper if you have a wood-burning fireplace.

For a little money the following can decrease your bill:

• Let’s assume you already change your a/c filters monthly. Now consider shading – not blocking –  that compressor outside from the direct burning sunshine.
• Install ceiling fans where there are none. Did you know the fan doesn’t actually lower the tempurature, but the moving air and drying moisture (think sweat) makes you feel cooler.
• Shade – not block – the unit’s outdoor compressor.
• Install refective films on windows and/or consider solar screens.

The more expensive fixes undoubtedly have the most impact over time, so if you can’t do these immediately think about getting to them when you can.

• Plant shade trees, specifically on the south and west sides of your property
• Insulation:  Make sure you have insulation at least in the attic. It’s estimated that undiscovered openings in walls, floors and the roof account for about 45% of cooling loss.
• Tankless Hot Water Heaters:  Because these provide hot water only when it’s needed, they remove the need for a big tank of hot water waiting to be used.
• Energy Efficient Windows:    These stop unwanted cooling loss and they can also block harmful UV rays that fade carpets and furniture. 
• Water Circulation System:  How much water goes down the drain while you are waiting for it to warm up?  It’s estimated that about 25 to 30 gallons of water daily can be wasted  this way, 10,000 to 14,000 gallons annually.   A water circulation system automatically recirculates colder water back to your water heater until it’s hot enough for use.

I’ve been playing a game with FPL for years. Every month I try to lower my bill, even if it’s only by $1. The satisfaction I get is, as they say, priceless!

If you have real estate needs I’m here for you. Call me at 305 794.6570 or leave me a message here.

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A Bit of Coconut Grove in South Miami

There’s a new listing in South Miami that you would swear is in the Grove! Three blocks south of Sunset Drive and surrounded by lush fully-grown trees and shrubs, this house is hidden from view from the street.

Located at 7520 SW 63 Avenue this house has 3 bedrooms and 2 bathrooms in just less than 1500 square feet. The floors are gleaming hardwood and the kitchen is updated with granite countertops. The family room overlooks the tropical back garden, a complete oasis.

The lot is over 10000 square feet and has an amazing heated pool and a spa. The detached one and a half car garage would also make a perfect studio or workshop, and an elevated “clubhouse” would make any child or child-at-heart happy!

Listed at $325,000 by Coldwell-Banker I expect this home to attract a lot of attention and to sell quickly.

If you would like to see this house, give me a call at 305 794.6570 or leave me a message here. To stay updated with all local real estate information, receive my blog posts via email by subscribing here.  Once you register, you must activate the subscription in a follow-up email.

Let’s Take a Look at Bay Heights in North Coconut Grove

Bay Heights is one of my favorite Coconut Grove neighborhoods. It’s the area of the Grove closest to downtown Miami and is surrounded by a 5 foot wall that originally enclosed the fields where food was grown for workers during the construction of Villa Vizcaya.

Vizcaya is the Italian-Renaissance estate built between 1914 and 1923  for the industrialist James Deering which is now owned by Miami-Dade County and open to the public. If you’ve not been there recently it is well worth another visit. If you’ve never been there, make it a priority the next time you can!

Back to Bay Heights, though! This is a community of 185 homes with 24 hour a day, seven days a week patrolling police presence. It can be accessed only through its 2 entryways, one at Tigertail and Alatka and the other where Samana Drive joins South Miami Avenue. The original homes were built during the mid-1950s and over time most have been updated.

One of the best renovations of an original Bay Heights-style home sold in June this year at 62 Bay Heights Drive that was listed by Kimberly and Associates. Pictured below, it has 5 bedrooms and three and a half bathrooms on 3 levels. It’s larger than the typical 1950s homes in the neighborhood with 4339 square feet and a lot over 17000 square feet. It has 10′ ceilings, terrazo floors, impact-glass windows, a truly gourmet kitchen, and complete guest or in-laws quarters (with kitchen) on the lower level. There is a huge wraparound deck in the backyard and plenty of room for a large pool.

This property sold for $1,200,000 or 8% less than the asking price. This is in line with the other closed sales this year, except for one sale at 105 W. Shore Drive which sold for 20% less than asking. Check out all the closed sales here.

There are currently 7 homes on the market in Bay Heights, none of which is a short sale or foreclosure. This is a stable and desirable place to live, literally as close as you can live to downtown and still be in Coconut Grove! See all listed homes here.

 General statistics for the area are as follows:

• Average square footage of homes: 3120
• Average list price: $733,615 or $235 per square foot
• Average sale price: $668,000 or $209 per square foot
• Sale price to listed price average: 90.5%

I’ve lived in the north Grove for over 30 years. If you want a real specialist in the area give me a call at 305 794.6570 or leave me a note here. To stay updated with all Coconut Grove real estate information, receive my blog posts via email by subscribing here.  Once you register, you must activate the subscription in a follow-up email.

What’s For Rent in Coral Gables Today?

If you are looking to rent a home in Coral Gables right now there is plenty from which to choose. From a 2 bedroom/one bath home in the northern end of the Gables for $2000 a month to an oceanfront mansion in Tahiti Beach for $35,000 a month, it seems the needs of anyone can be met here.

Checking for single family properties that are unfurnished I find 62 homes on the market. The median asking price is $4500 and the median square footage is 2498.

Click here to see all available rental homes in Coral Gables

The two homes mentioned above, by the way, are 904 Wallace Street and 5 Tahiti Beach Road. The 2/1 bungalow home on Wallace was built in 1950 and has new appliances, wood floors, and a garage.  The mansion on Tahiti Beach has 10 bedrooms and nine bathrooms in 11,553 square feet with its own private beach, 3 car garage and every conceivable convenience and embellishment.

If you are looking to rent, buy or sell a home in Coral Gables, please give me a call at 305 794.6570 or leave me a note. You can receive my posts directly in your email. Look for a follow-up email to activate your subscription!

What’s Happening in Cocoplum and Tahiti Beach?

Cocoplum is a Coral Gables gated community on the bay just south of Coconut Grove. Accessible by car through the single guarded entrance on Cartagena Circle, it is an isolated and insulated enclave of homes with its own marina.

Begun in the late 1970’s, it has grown into an exclusive community of over 400 homes, many of them with direct access to Biscayne Bay.  The Cocoplum Yacht Club has a full-service marina from which several big-game fishing tournaments are held annually, marking it as a world-class facility.

Cocoplum maintains 24-hour manned security at its entrance guardhouse as well as roving patrols offering residents complete peace-of-mind. Community services include a large clubhouse with pool, playground, state-of-the-art gym, tennis courts, basketball court, and a half-court for children. There are beautifully maintained gardens and landscaping throughout the community. You can check out all Cocoplum amenities here.

As of the beginning of July the average selling price for non-waterfront property in Cocoplum is $2,133,333 or $332 per square foot. For the same period, waterfront homes average $2,865,000 or $511 per square foot when sold.

To see all non-waterfront homes on the market, under contract and sold this year click here.

See all waterfront homes available, about to close and closed this year click here.

 

The map above outlines the main area of Cocoplum, but through a second security point and only with advance notice to the guard on duty, you can enter Tahiti Beach. Tahiti Beach waterfront homes have some of the best views of Miami across the water.

So far this year nothing has sold in Tahiti Beach, but you can see all the homes for sale there here. The average square feet in the homes is 9,045, the average asking price is $8,939,000 and the average asking price per square foot is $959.

 If you’re thinking of selling your Cocoplum home or buying in the community, call me at 305 794.6570 or leave me a note.

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News Buyers Have Been Waiting to Hear

Congress has finally passed two important extensions that will give some buyers reason to jump for joy! The Homebuyer Assistance and Improvement Act deadline for closing has been extended from June 30 to September 30. This applies only to those transactions that have ratified contracts dated prior to April 30 that haven’t closed yet. This program offered qualified buyers up to an $8000 tax credit when purchasing a home.

The other piece of good news is that flood insurance is again available by the Senate’s extension of the National Flood Insurance Program. The bill is retroactive and covers the lapse period from June 1 to the date of enactment. It’s been impossible to close on some properties because this critical form of coverage wasn’t available anywhere and lending institutions were naturally reluctant to close on loans where properties that require flood insurance couldn’t be insured.

I wrote in an earlier post that it had been erroneously reported to have been passed, but this time it is official.

To read more about the extensions, click to be directed to Inman News’ coverage. To discuss your real estate needs give me a call at 305 794.6570 or leave me a note. You can also get my posts directly in your email.

Own a Piece of Old Coconut Grove Grove!

I previewed a home at 3991 Kumquat Avenue on Wednesday that is a quintessential “old Grove” house. There are so few of these left in any condition, and this one has been beautifully updated without losing the inherent charm and character of its 1935 construction.

From the street your view  is completely blocked by thick foliage and you can’t really be certain there’s anything behind the gate. Once you enter, though, you’re in a jungle-like lot with towering oak trees,banyans trees, ferns, palms, heliconias, crotons, and you name it!

The main house has two bedrooms, each with its own gorgeous bathroom. The gourmet kitchen, dining room and living room all share one large and airy space with a fireplace, French doors across the entire back of the house, built-in bar, and a skylight. The whole house is covered by a tremendous vaulted roof/ceiling.

The backyard is an entertaining oasis with a huge covered gazebo under an old banyan tree. Following a path from the main deck takes you to one of the coolest guesthouses around! It’s another big open room fitting a seating and dining area and a very comfortable bed facing a large TV. There’s a full bathroom and kitchenette, and tons of storage.

The features of this very special home listed by Coldwell-Banker are as follows:

• Asking price: $795,412
• 2 bedrooms and 2 bathrooms in the main house
• One bathroom in the guesthouse described above
• Square feet: 2048
• Lot size: 14,488
• Built in 1935

If you’re looking for an old piece of the Grove to call home, give me a call at 305 794.6570. I’d love to show it to you!

I’m always available for any of your real estate needs. To stay updated with all Coconut Grove real estate information, receive my blog posts via email by subscribing here.  Once you register, you must activate the subscription in a follow-up email.

Reverse Mortgages Subject To More Scrutiny

Reverse mortgages can be a useful vehicle for people over 62 who have good equity in their home. Seniors can get funds based upon their age and amount of equity.  Until now, sufficient equity has been pretty much the only requirement to qualify, and there has been minimal or no attention given to credit scores or applicant’s incomes. The typical borrower is not required to make any monthly payments, and no escrows for property taxes or insurance are collected.

The Federal Housing Administration, which runs the dominant reverse mortgage program, reported its first-ever budget shortfall of $798 million for the program during the last fiscal year, in part because of wide-spread declines in the values of the homes that secure its insured loans.

Mortgage experts say that insurance and tax defaults are rising in part because of the housing recession, but also by borrowers who may not be adequately counciled that foreclosure could be the outcome of non-payment. Tax liens take precedence over mortgages, and with no escrows collected seniors may not keep track of property tax and insurance premium notices.

Until recently the FHA and Fannie Mae were pretty lenient when senior borrowers fell behind or stopped paying, not wanting to appear to be ”throwing them out into the street” instead of waiting for full repayment upon the sale of the property. Although neither entity provided statistics on the defaults, they say they no longer have the means to look the other way.

Both say they are looking into solutions that will create a mandatory step-by-step system to contact borrowers who are delinquent, determine the cause, and if necessary refer them to charitable groups who can assist them and prevent foreclosure.

I can direct you to the best person for your mortgage needs. You can call me at 305 794.6570 or leave me a note here.

To stay updated with all local real estate information, receive my blog posts via email by subscribing here.  Once you register, you must activate the subscription in a follow-up email.

The Coconut Grove Peacock Tour Has Begun

I wrote earlier about the incredible larger-than-life fiberglass peacocks painted by local artists and sponsored by local businesses that were unveiled at the Mayfair last month. EWM partnered with Casa Valentina to host one of the birds, and “Valentina” arrived at our office on Thursday morning!

The Coconut Grove Peacock Tour is the brainchild of Heather Bettner shown in the picture above, a long-time Grove resident, and is  fashioned after the Chicago Cows and the Miami Beach Flamingos. The idea is to create a unique interactive public art exhibit, drawing people to the area and increasing revenues for every type of local business.

After being on display for 6 months the peacocks will be auctioned, with all proceeds benefitting local non-profit organizations and charities.

To see each of the Peacocks and take the tour yourself, follow the map embedded below. It’s really worth the little bit of effort!

If you would like more information on the tour, please give me a call or 305 794.6570.

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Reported Tax Credit Extension Struggles for Support

Florida News Alert from Florida Realtors

A USA Today story published in yesterday’s Florida Realtors News inaccurately reported that the U.S. Senate passed a bill extending the closing deadline under the homebuyer tax credit for three months. That is incorrect. The Senate did vote to add that extension as an amendment to a larger bill, but that bill is struggling to find support – a bill that also includes an extension of the expired National Flood Insurance Program.

The U.S. Senate voted on Wednesday to give homebuyers another three months to settle on their contracts and take advantage of a popular tax credit that sparked a rush of activity in the housing market. The measure has been offered as an amendment to a bill that would extend popular tax breaks and unemployment insurance benefits for jobless workers.

The current deadline requires buyers to close by June 30 to get the $8000 tax credit for first-time homebuyers. Existing homeowners buying a new primary residence are eligible for a $6500 credit.

It is not expected that the proposal would have a significant impact on future home sales as the extension covers only those buyers who had valid sales contracts in effect on April 30. As home prices continue to go down and interest rates for mortgages stay at record lows, however, sales should remain brisk.

If you need to speak to a local specialist about this call me at 305 94.6570 or leave me a note.

To stay updated with all local real estate information, receive my blog posts via email by subscribing here.  Once you register, you must activate the subscription in a follow-up email.