Luxury Miami Real Estate

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Archive for the 'Luxury Miami Real Estate' Category

Pinecrest Market Update

Earlier this week I blogged about closed sale prices in North Pinecrest between $3,000,0000 and $5,000,000. In that post I mentioned that in the past 6 months, homes between $3,000,0000 and $4,000,000 have closed for significantly less per square foot than their counterparts in the $4,000,000 to $5,000,000 range. That is just a part of the picture, so this week I have run Facts and Trends to show you what has been happening in the high-end Pinecrest market overall. Take a look at the charts below.


First of all, when you are looking at these images, please disregard September, 2017. Hurricane Irma blew through Florida starting on September 10, 2017, and with the recovery and cleanup after the storm, September became a lost month for South Florida real estate. Other than September of 2017, these charts do show you what has been happening in the luxury Pinecrest market over the past year or so.


For example, you can see that there were no sales between $3,000,000-$5,000,000 from September of 2016 through February of 2017. Back then I kept saying “it feels like the high-end Pinecrest market is down,” because I showed property but could not get anything in that price range in Pinecrest to move. Well now I see that I was right. It did not just feel like the market was down, it actually was down during those months.

While the market for these high-end listings has come back since earlier this year, this type of house does not necessarily fly off of the market quickly. This is made clear by the fact that in between March and August of 2017 they averaged 230 days on the market. During 4 out of those 6 months, houses in this price range closed for significantly lower dollar amounts than their listed price per square foot, so pricing is obviously a huge factor in the amount of time that homes are spending as active listings.

Just like my gut told me that the market had slowed down in late 2016 and early 2017, it feels to me like the luxury Pinecrest real estate market is going to pick back up after September’s weather-related glitch. There are serious buyers out there, and they want to live in Pinecrest. This time next year when I run these Facts and Trends again, I would not be surprised if the 4th quarter of 2017 reflects Pinecrest’s strongest market of the year!

Download and print all of these charts of Pinecrest’s Facts and Trends

If you are in the market to either buy or sell a home, I would love to help you! Call me at 305.798.8665, or visit my website at: Luxury Miami Real Estate

Luxury Miami Real Estate

My focused dedication as a realtor in my home town of Miami for over 25 years, consistently puts me at the top of my field. Whether you’re looking to buy or sell your home, let me help you from start to finish with my results-proven: professional marketing, excellent property exposure and comprehensive experience.

Consistently in the top 10 company-wide at EWM for the past 15 years, my focus is on Coral Gables, Coconut Grove, Pinecrest and South Miami — specializing in luxury real estate and waterfront properties. Call me today and let’s get started!

Don’t hesitate to reach out to me, Ashley Cusack at {305.798.8685, email and website}. Senior Vice President, EWM Realty International.

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Pricing North Pinecrest Luxury

I’ve recently been working with a buyer who is looking for homes in the high $3,000,000 to mid $5,000,000 range. She is moving to Miami from another part of the world, so we have been looking at different areas: Coconut Grove, Coral Gables, Ponce/Davis, and Pinecrest. These are all great options with lots of lovely homes, so we are narrowing it down to find this buyer’s perfect fit, but Pinecrest has definitely grabbed their attention. When looking at comps, this is what I found.

Over the course of the past 6 months, North Pinecrest homes that were listed between $3,000,000 and $4,000,000 have sold for a high of $478.20/square foot, an average of $410.65/square foot, and a low of $343.10/square foot. The low was a bit skewed because it was a house where roughly one third of the lot is under water (not “under water” like a buzzy real estate term, but actually under the water of a lake!).

Homes listed between $4,000,000 and $5,000,000 have closed for significantly higher prices per square foot as of late. Their high, average, and low come in at $543.71, $525.53, and $507.35 per square foot, respectively. This price discrepancy is due to the fact that nearly all of the $4,000,000-$5,000,000 homes are brand-new construction, while many of the homes in the slightly-lower price range are a bit older, though still magnificent.

There are some wonderful luxury properties available in Pinecrest right now, and now you know a bit more about their pricing. Check out my listing at 5800 SW 93 Street – listed at $3,495,000, or $428.88 per square foot, it is priced right where it should be!

If you are in the market to either buy or sell a home, I would love to help you! Call me at 305.798.8665, or visit my website at: Luxury Miami Real Estate

Luxury Miami Real Estate

My focused dedication as a realtor in my home town of Miami for over 25 years, consistently puts me at the top of my field. Whether you’re looking to buy or sell your home, let me help you from start to finish with my results-proven: professional marketing, excellent property exposure and comprehensive experience.

Consistently in the top 10 company-wide at EWM for the past 15 years, my focus is on Coral Gables, Coconut Grove, Pinecrest and South Miami — specializing in luxury real estate and waterfront properties. Call me today and let’s get started!

Don’t hesitate to reach out to me, Ashley Cusack at {305.798.8685, email and website}. Senior Vice President, EWM Realty International.

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Seed Food and Wine Festival

Did you know that there is a food and wine festival going on in Miami this weekend? Yes, Seed Food and Wine Week, which touts itself as the “first conscious plant based food and wine festival in the country” is going on through November 5th. It has a variety of events, including lectures, a 5k run (that I am sorely tempted to do!), and, of course, food-filled parties! It sounds like a lot of fun, and I wish that I had made it to the Third Annual Plant Based Burger Battle, but I had a previous engagement.

I am proud to live in the city that is hosting Seed Food and Wine Week because it proves that Miami has many facets. Sure, we are a melting pot, we have beautiful beaches, and hip night clubs, but we are also a city that is growing culturally. I love that I get to watch and be a part of my hometown’s bourgeoning art, intellectual, and culinary expansion! Although I missed Seed this year, I will be there for the next go-round. I can’t wait!

For more information on the event, go to Seed Food & Wine Festival

If you are in the market to either buy or sell a home, I would love to help you! Call me at 305.798.8665, or visit my website at: Luxury Miami Real Estate

Luxury Miami Real Estate

My focused dedication as a realtor in my home town of Miami for over 25 years, consistently puts me at the top of my field. Whether you’re looking to buy or sell your home, let me help you from start to finish with my results-proven: professional marketing, excellent property exposure and comprehensive experience.

Consistently in the top 10 company-wide at EWM for the past 15 years, my focus is on Coral Gables, Coconut Grove, Pinecrest and South Miami — specializing in luxury real estate and waterfront properties. Call me today and let’s get started!

Don’t hesitate to reach out to me, Ashley Cusack at {305.798.8685, email and website}. Senior Vice President, EWM Realty International.

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Foreign Investment, or Lack Thereof

A little while ago I attended the Luxury Portfolio International Summit on Miami Beach. It is a great opportunity to network with my fellow realtors, not to mention it is incredibly educational! One subject that was discussed extensively at this year’s conference was the lack of foreign real estate investment in the United States. Miami is a very international market, so we have certainly felt this change over the past year, and I was interested to learn more about what is happening internationally to cause this shift.

Take a look at this chart, which illustrates why foreign investors have stopped buying property in the US. You will note that, with the exception of China, it has become more expensive across the board to buy property in the US. For example, if you look at Argentina, back in 2007 a $1,000,000 property in the US could be purchased for 3,186,990 Argentinean Pesos. However, in 2016, a $1,000,000 home would cost 16,042,200. That makes a $1,000,000 house a whopping 403.4% more expensive to an Argentinian buyer in 2016 than it was in 2007! Colombia, Peru, Brazil, and Venezuela have all seen their currency rates change, meaning that the Latin American market here in Miami has weakened considerably.

It is not just South Florida that is experiencing this shift in the real estate market: other parts of the US have historically had heavy foreign real estate investment as well. Because property is relatively more expensive right now, the “steals” that foreign investors were purchasing around 10 years ago simply do not exist at this point.

The real estate market is constantly changing, and this is just the latest shift. I am sure that one day in the future I will be writing a blog about how much foreign investment we are experiencing!

If you need help buying or selling a home give Ashley Cusack a call at 305.798.8665, or visit her website at: Luxury Miami Real Estate

Luxury Miami Real Estate

My focused dedication as a realtor in my home town of Miami for over 25 years, consistently puts me at the top of my field. Whether you’re looking to buy or sell your home, let me help you from start to finish with my results-proven: professional marketing, excellent property exposure and comprehensive experience.

Consistently in the top 10 company-wide at EWM for the past 15 years, my focus is on Coral Gables, Coconut Grove, Pinecrest and South Miami — specializing in luxury real estate and waterfront properties. Call me today and let’s get started!

Don’t hesitate to reach out to me, Ashley Cusack at {305.798.8685, email and website}. EWM Realtors.

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The Importance of Giving Back

I recently attended the Luxury Portfolio Conference on Miami Beach, and one entire morning was spent talking about giving back. I absolutely love that this topic was given so much importance in a high-end luxury real estate seminar. I have always believed in giving back and find that it is one of the most important aspects of my life, whether I am coaching lacrosse, volunteering with the Junior League Foundation or Beaux Arts, or serving on my church’s vestry.

My high school motto was “what we keep we lose, and only what we give remains our own.” I still believe in this mantra and I continue to try to live that way! I am so glad that the real estate community worldwide is buying into this!

If you need help buying or selling a home give Ashley Cusack a call at 305.798.8665, or visit her website at: Luxury Miami Real Estate

Luxury Miami Real Estate

My focused dedication as a realtor in my home town of Miami for over 25 years, consistently puts me at the top of my field. Whether you’re looking to buy or sell your home, let me help you from start to finish with my results-proven: professional marketing, excellent property exposure and comprehensive experience.

Consistently in the top 10 company-wide at EWM for the past 15 years, my focus is on Coral Gables, Coconut Grove, Pinecrest and South Miami — specializing in luxury real estate and waterfront properties. Call me today and let’s get started!

Don’t hesitate to reach out to me, Ashley Cusack at {305.798.8685, email and website}. EWM Realtors.

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Miami Real Estate Insight

Earlier this week I had the pleasure of attending a market outlook meeting put on by EWM called Insight. The panelists were Alice N. Bravo P.E., the Director of Transportation & Public Works, Miami-Dade County, Dr. J. Antonio Vallamil, Founder & Principal, Washington Economics Group and Ron Shuffield, President & CEO, EWM Realty International.

It was interesting and enlightening. The real estate take away from Ron was that, as realtors, we should be pushing to reduce asking prices. Currently our $1,000,000 + single family home market is carrying a 26 month supply and there has been an 11% decrease in sales. I have said this many times, but below 12 month’s inventory represents a seller’s market, 12-18 month’s supply is a balanced market and over 18 month’s supply is a buyer’s market. In spite of these numbers, I will say, we have experienced a lot of activity in the past few months. Priced well, good houses are selling. The foreign buyers, or lack thereof, really hit us last year. 2 years ago 32% of every buyer was from outside of the country, last year 25% were foreigners. The most dramatic example of this are the Argentinians who would be spending 24% more with their currency value compared to our dollar today versus a year ago.

The good news is the value of luxury we afford in Miami compared to other important cities in the world. A 120 sq meter (1,291 sq ft) condo in Monte Carlo, for example, is a staggering $45,000/sq meter ($4,349/sf), while Miami Beach is $8,180/sq meter ($760/sf). New York is $22,482/sq meter ($2,089/sf) and Downtown Miami is $5,113/sq meter ($475/sf). It makes Miami look like a deal, right?!

I am cautiously positive about 2017, as we have gotten off to a great start! Much different than last year!

If you need help buying or selling a home give Ashley Cusack a call at 305.798.8665, or visit her website at: Luxury Miami Real Estate

Luxury Miami Real Estate

My focused dedication as a realtor in my home town of Miami for over 25 years, consistently puts me at the top of my field. Whether you’re looking to buy or sell your home, let me help you from start to finish with my results-proven: professional marketing, excellent property exposure and comprehensive experience.

Consistently in the top 10 company-wide at EWM for the past 15 years, my focus is on Coral Gables, Coconut Grove, Pinecrest and South Miami — specializing in luxury real estate and waterfront properties. Call me today and let’s get started!

Don’t hesitate to reach out to me, Ashley Cusack at {305.798.8685, email and website}. EWM Realtors.

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Super Bowl 51!

Although my beloved Miami Dolphins did not make it to the Super Bowl, I am, as always, excited to watch the big game! As a competitive runner I love to see other athletes playing at their peak, and what is the Super Bowl if not an example of that type of athleticism?

I am not going to lie to you and say that it’s all about the game, though. I do love a good Super Bowl ad. Remember the Apple “1984” commercial? I happen to be reading 1984 for my book club, and that Apple spot really hit the nail on the head. More recently, I adored the little boy dressed as Darth Vader who managed to turn on a Volkswagen! I must admit that the Budweiser Clydesdales are always so sweet that they bring a tear to my eye!

In addition to the football and the commercials, I am also intrigued by this year’s halftime show. What will Lady Gaga wear?! And how will they take such an “out there” performer and make her appeal to the masses? Only time will tell! Hopefully something outrageous will come out of the performance – more fodder for my blog!

What is your favorite part of the Super Bowl? The food? The commercials? The halftime show? Maybe it is the chicken wings! Whatever it is, I hope that you enjoy Sunday’s game and the surrounding pomp and circumstance. May the best team win! And may that not be the Patriots!

If you need help buying or selling a home give Ashley Cusack a call at 305.798.8665, or visit her website at: Luxury Miami Real Estate

Luxury Miami Real Estate

My focused dedication as a realtor in my home town of Miami for over 25 years, consistently puts me at the top of my field. Whether you’re looking to buy or sell your home, let me help you from start to finish with my results-proven: professional marketing, excellent property exposure and comprehensive experience.

Consistently in the top 10 company-wide at EWM for the past 15 years, my focus is on Coral Gables, Coconut Grove, Pinecrest and South Miami — specializing in luxury real estate and waterfront properties. Call me today and let’s get started!

Don’t hesitate to reach out to me, Ashley Cusack at {305.798.8685, email and website}. EWM Realtors.

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Waterfront Lot Size Discrepancies

Luxury Miami Homes for Sale

Lately I have had the pleasure of showing several waterfront homes to a buyer. When I show property, I like to give the buyer as much information as possible, so I always hand them the MLS sheet, the tax roll, the listing history, and anything else that I can get my hands on such as a survey or floor plan. Once my buyer zeroed in on a few homes, she really started to analyze the information I had given her and she called me with an important question: why did the lot size on MLS listing sheet almost always reflect a larger number than the Miami-Dade County tax rolls?

Waterfront lots are interesting because, well, they end in the water. Because water is a dynamic force that can rise or become lower, Miami-Dade County does not utilize the entire square footage of a waterfront lot in its tax rolls. Rather, the County will only measure up to what is known as a “survey tie line” to assess this type of property rather than measuring the entirety of the lot, all the way to the water’s edge.

Although Miami-Dade County does not assess waterfront lots based on their true size, a buyer who purchases such a lot does, in fact, own all the way down to the water’s edge. During the contract period, a buyer’s closing agent will order a survey of the land and that document will show the survey tie line, but will also give credit to the whole lot. Upon selling, owners can then provide that survey to their realtors so that they can list the correct lot size. This is why my astute buyer noticed that the lots in the MLS were, more often than not, larger than reflected in the tax rolls.

If you need help buying or selling a home give Ashley Cusack a call at 305.798.8665, or visit her website at: Luxury Miami Real Estate

Luxury Miami Real Estate

My focused dedication as a realtor in my home town of Miami for over 25 years, consistently puts me at the top of my field. Whether you’re looking to buy or sell your home, let me help you from start to finish with my results-proven: professional marketing, excellent property exposure and comprehensive experience.

Consistently in the top 10 company-wide at EWM for the past 15 years, my focus is on Coral Gables, Coconut Grove, Pinecrest and South Miami — specializing in luxury real estate and waterfront properties. Call me today and let’s get started!

Don’t hesitate to reach out to me, Ashley Cusack at {305.798.8685, email and website}. EWM Realtors.

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The Stunning World of Alfred Browning Parker

Luxury Miami Homes for Sale

I have always loved the homes designed by Modernist architect Alfred Browning Parker, so I am very excited to see HistoryMiami Museum’s new exhibit “The Discipline of Nature: Architect Alfred Browning Parker in Florida.” I have been in – and sold – several of his designs, I have never actually seen his sketches or models, and I look forward to viewing those and other pieces of his work all in one place!

Parker studied under Frank Lloyd Wright, and his work is stunning. It truly fits the Miami lifestyle because he ingeniously brought the outdoors in. His homes feature clean lines and simple, natural materials, plus abundant windows, all of which allow the beautiful nature here in South Florida shine. Though his career started just after World War II, Alfred Browning Parker’s designs still feel fresh and modern – probably because he influenced the next generation of architects, many of whom have adopted elements of his style.

Whether or not you are familiar with the Parker’s designs, HistoryMiami Museum’s retrospective will definitely be worth your time because his work is a treat to behold! Maybe you will be inspired to redecorate in a modernist style, or maybe you will feel compelled to buy one of his homes! If the latter is the case, then I know just the realtor to help!

If you need help buying or selling a home give Ashley Cusack a call at 305.798.8665, or visit her website at: Luxury Miami Real Estate

Luxury Miami Real Estate

My focused dedication as a realtor in my home town of Miami for over 25 years, consistently puts me at the top of my field. Whether you’re looking to buy or sell your home, let me help you from start to finish with my results-proven: professional marketing, excellent property exposure and comprehensive experience.

Consistently in the top 10 company-wide at EWM for the past 15 years, my focus is on Coral Gables, Coconut Grove, Pinecrest and South Miami — specializing in luxury real estate and waterfront properties. Call me today and let’s get started!

Don’t hesitate to reach out to me, Ashley Cusack at {305.798.8685, email and website}. EWM Realtors.

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Miami Real Estate July 2016 Market Update

The Miami Herald recently ran a piece called “Miami real estate had a really bad month in July.” Ouch. That is not something that, as a realtor, I want to see! However, I know that I put just shy of $6,000,000 worth of property under contract during just that month, so it did not feel quite so doom and gloom to me!

After my shock and dismay at the headline, I actually took a moment to read the article. Sure, there are negatives in there, including the down condo market and the lack of foreign investment, but the real estate market does have some positive things going for it. For example, I think that the fact that the number of foreclosures is down is excellent news because it means that our market has grown healthier in that regard. I have also found that what Ron Shuffield said is true: “the middle of the market is still strong.” Mid-priced listings are in high demand because, at the end of the day, not everyone can afford to spend $1,000,000 on their home.

As always, price does come up in this article. Pricing is up 7.9% for single family homes year over year in July of 2016. I do believe that this will stabilize now that the market has shown evidence of a slow-down. It might be time to revisit pricing with some of my listings that have not received the attention that they merit.

I do realize that this summer has felt slower than summers past, but, in addition to the obvious negatives, there are some positives in our real estate market! Hopefully now that we are all back to school and back in work mode, we will see an uptick in sales here in South Florida.

Click here to read the Miami Herald article

If you need help buying or selling a home give Ashley Cusack a call at 305.798.8665, or visit her website at: Luxury Miami Real Estate

Luxury Miami Real Estate

My focused dedication as a realtor in my home town of Miami for over 25 years, consistently puts me at the top of my field. Whether you’re looking to buy or sell your home, let me help you from start to finish with my results-proven: professional marketing, excellent property exposure and comprehensive experience.

Consistently in the top 10 company-wide at EWM for the past 15 years, my focus is on Coral Gables, Coconut Grove, Pinecrest and South Miami — specializing in luxury real estate and waterfront properties. Call me today and let’s get started!

Don’t hesitate to reach out to me, Ashley Cusack at {305.798.8685, email and website}. EWM Realtors.

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Olympics Inspiration!

If you know me, you know I love sports! I love to play sports and I love to watch sports! So, when the Olympics roll around, summer or winter, I am addicted! I love watching athletes that have worked as hard as they have to be the best at what they do. I wish I could give that dedication to a sport and see it realized in the Olympics. Alas, I think my opportunity has passed, but the inspiration these kids (some not kids at all) give to us all is amazing. At a time when the world can’t get along, our nation is divided by two struggling parties and people overall just don’t seem to be acting in a way we would be proud of, the Olympics are there to show us something completely different.

I have been moved by Abbey D’Agostino and Nikki Hamblin, the runners that fell over each other and then helped each other up and encouraged the other to finish-this is the biggest race of their lives! Watching Bolt and De Grasse laugh together as they crossed the line in the semi-finals and seeing most everyone showing sportsmanship and respect to their fellow athletes as they win or lose! I just love this and wish we could carry this spirit with us throughout the year! These people are competing for all they know and for all they have worked so hard for, yet they can see the bigger picture.

Some of my favorite stories have been the success of the American girl’s gymnastics team, the Final Five! Watching Michael Phelps come back and win his 23rd medal, while feeling much more like a team member, watching Usain Bolt entertain the crowd while winning gold in the 100 and 200 for the third straight Olympics, and finally watching Kerri Walsh Jennings and April Ross lose against the Brazilians (I didn’t love that), only to come back and fight like crazy and with pride to win the bronze the next day. So many life lessons in all of these stories! My kids are tired of hearing me drone on about all there is to learn here!

And then there is Ashleigh Johnson, the girl’s water polo goalie who is a graduate of Ransom Everglades School, where my children go. She is competing for the gold medal with her team today. She is the only African American on the team and the only girl that, not only did not grow up in California, but does not play for a California school, she plays for Princeton. She grew up in the Redlands, not the hotbed of waterpolo! With hard work and determination she has become what many are saying is the best goalie in the world! How cool is that! What a lesson to my privileged children.

So as the Olympics come to an end, I am saddened to have to wait two more years to stay up too late and cheer like crazy, but hopeful that we will remember all the good that these amazing athletes have shown! I recognize how sappy this all sounds, but I really do believe we can take a lesson and try to be the achievers and good sports we have seen from so many of these Olympians. These Olympics came at the perfect time and have changed our headlines for a couple of weeks! Thank you to all of the athletes that have completely entertained the world with your positive and uplifting stories and athleticism!!

If you need help buying or selling a home give Ashley Cusack a call at 305.798.8665, or visit her website at: Luxury Miami Real Estate

Luxury Miami Real Estate

My focused dedication as a realtor in my home town of Miami for over 25 years, consistently puts me at the top of my field. Whether you’re looking to buy or sell your home, let me help you from start to finish with my results-proven: professional marketing, excellent property exposure and comprehensive experience.

Consistently in the top 10 company-wide at EWM for the past 15 years, my focus is on Coral Gables, Coconut Grove, Pinecrest and South Miami — specializing in luxury real estate and waterfront properties. Call me today and let’s get started!

Don’t hesitate to reach out to me, Ashley Cusack at {305.798.8685, email and website}. EWM Realtors.

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