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real estate: Miami's real estate marked hit bottom! - 06/18/08 12:56 PM
Back in May I wrote a blog asking the question, did Miami's real estate market hit bottom? A month later the experts are beginning to say that South Florida's real estate market may be bottoming out. However bottoming out has many meanings for many people. To us in the real estate business the market shifts are related to sales.
The market peaked on April 2005... most experts now agree on that. What did that mean at the time? What that meant is that was the point that inventory started climbing and sales started declining. Prices started declining months later.
So now many of … (0 comments)

real estate: Benefiting from Greening! - 04/22/08 12:40 PM
As we celebrate Earth Day today, I am taking inventory of the things our family has done in the process of reducing our impact upon this earth. Let me say that I've made it my passion to reduce our family's energy consumption because I have a son in the military and I prefer to have him home protecting our land than defending oil fields somewhere else. So my goal is to stop using oil or energy produced from oil within the next five years. This is a gradual process and every step I take in that direction teaches me something new.
But I've found … (3 comments)

real estate: REAL ESTATE - Have we hit bottom yet? - 04/18/08 04:54 PM
I hear many national experts giving their opinion about the real estate market and I find their opinion to be as accurate as someone on the space shuttle trying to pick a red, sweet juicy apple from space. With today's technology he may be able to see the trees - he may even see the apples. But only someone on the ground can go to the tree pick a red apple; smell it; take a bite and say if it is a nice sweet juicy apple.
Real estate is the same, yet we have all these national experts telling people what to … (2 comments)

real estate: Renters' present danger - 04/18/08 10:29 AM
The foreclosure crisis is now affecting renters, too. South Florida is continuing to grow, albeit slower than before, but still at a good pace in relation to the rest of the country. With consumer confidence at an all time low and fears of the real estate market, many of these new South Floridians are parking themselves in rental properties.Unfortunately what they thought was a safe haven is turning out to be a nightmare as many are being evicted from their rental properties -- not for lack of payment but due to foreclosures. Many tenants who think they are safe from eviction … (2 comments)

real estate: Estimated Declining Appraisals - 03/07/08 03:30 PM
This week in our sales meeting some agents complained about having problems with appraisals coming in low, even after they based their asking price on a recent CMA; priced the property agressively and the buyers still reduced the sale price further.  
That was when we were alerted to the fact that appraisers were using 90 days old comps. However in some areas and some types of properties are selling at one or two homes per year. So for those comps that are over 90 days old, appraisers estimate 1% per month decline in value.
Many of us find this trend curious, because when the market was … (3 comments)

 

Carlos Ruiz de Quevedo, AIA

Coral Gables, FL

More about me…

Esslinger Wooten Maxwell, Inc.

Address: 550 South Dixie Hwy, Second Floor, Coral Gables, Fl, 33146

Office Phone: (305) 667-8871 x 452

Cell Phone: (305) 510-0647

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