Luxury Miami Real Estate

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550 South Dixie Highway

Coral Gables, FL 33146

Cell: 305-798-8685

Office: 305-960-5330

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Archive for the 'South Miami Realtor' Category

Effective Age Versus Actual Age

If I am looking up a house to start comparables, or just to get more information on it, my search very often starts in the Miami-Dade County tax rolls, even before I go to the MLS. Miamidade.gov is a pretty reliable reference point, offering lot square footage, house square footage, and the age of the property. Well, that is until recently.

Lately when I pull a tax report from the county’s website, rather than give an actual age for a home, it will say “Multiple (See Building Info.),” which is not particularly helpful. I looked into this on another tax program, Imapp, to see if I could get any more information on the age of a particular home and I did find what I was looking for. The house that I was researching, an old Spanish in the Gables, showed on Imapp as having been built in 1924, but it was also noted that the home’s effective age was 1975.

A home’s effective age is measured by how updated it is. Therefore, while this home was built in 1924 it had had enough upgrades to qualify as a house that is 50 years “younger” than it really is. That could mean that it has a newer roof, newer appliances, an addition, functionally obsolescent items removed, etc.

Effective age is something that appraisers consider when valuing a home. According to Core Logic, “When selecting properties that are being used as comparables in an appraisal, the effective age of each property chosen should be given consideration to ensure the comparable homes are similar in effective age. Let’s say there are two 100-year-old homes, one of which is extensively remodeled and added on to, and the other is in its original state, complete with a roll rim kitchen sink and asbestos tile roofing shingles. To compare the two properties without making an adjustment for the difference in effective age would be wrong and could have a significant impact on a home’s appraised value.”

I am not sure when or why Miami-Dade County switched its records so that they do not reflect a home’s true age or effective age, but I am glad that it led me down this short little research rabbit hole. Effective age is an important item to consider when pricing any home.

If you are looking to buy or sell a home anywhere in Miami, please call me at 305-798-8685, 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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Lovely Lakeridge!

Do you know about Lakeridge? It is a townhouse community in an easy, central location and the units enjoy stunning lake views. Honestly, when you pull through the guard gate it feels like you have escaped the hustle and bustle of the city, but the community is conveniently close to Coral Gables, South Miami, the University of Miami, the airport, expressways, and more!

I have a new listing in Lakeridge, and it has the most gorgeous view of the lake. I would love to show it to you in person, but meanwhile here is a link to its website so that you can admire the clean, comfortable home, and check out the beautiful dock and views: www.5163sw71place.com

If you are looking to buy or sell a home anywhere in Miami, please call me at 305-798-8685, 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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An Ultra Chaotic Weekend?

Photo from ultramusicfestival.com
The Ultra Music Festival is back in town. This year, instead of being held at Bayfront Park, it will be on Virginia Key. For those of you who are unfamiliar with Miami, Virginia Key is an island connected to the mainland by one causeway, so there is really only one way in and one way out as far as driving. Ultra attracted 165,000 festival goers in 2017 alone, so getting people to and from the event is going to be one heck of a challenge!

Now that they have relocated, the only way for attendees to get to the festival is via its own transportation, which is either a bus or a water taxi. There are three bus hubs and two water taxi stations set up downtown, and the event’s organizers are strongly urging festival goers to use public transportation to get to those locations so as to lessen traffic. In years past I have always seen attendees on the Metrorail, so the use of public transport should not be a problem. If you are wondering how I know that I’ve seen attendees, it is because they are very often wearing neon tutus and body paint: it is quite a spectacle!

I have never been to Ultra myself, the laid-back Tortuga Music Festival is more my speed, but I know that it generates a good amount of money for Miami, so I have no objection to it. If I lived on Key Biscayne and felt like I was trapped on my island for the weekend I might be singing a different tune, though. Have you been to Ultra? What do you think of the new venue?

If you are looking to buy or sell a home anywhere in Miami, please call me at 305-798-8685, 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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What is a Home’s Square Footage?

Photo from www.homedit.com
A home’s square footage can be confusing because it is broken down into three different numbers: the living area, the adjusted area, and the total area. The living area is the actual air conditioned inside area of a house and is the smallest number of the three. Adjusted square footage is larger because it takes into account spaces that are utilized but not necessarily air conditioned, so it adds half of the size of the garage and one third of the size of covered patios to the living area. Total area is the largest of the numbers because it includes the full amount of all covered square footage. Take a look at the architect’s measurement below of 12440 Moss Ranch Road for more clarification.

The spaces shaded by tight dots labeled “conditioned space” in the key are the actual living area, which measures 5,546 square feet. The square area on the bottom right of the larger portion of the sketch that says 541 is the garage, and if you look at the key, the number on the right shows its adjustment to 271 square feet. The remaining spaces that are covered in diagonal stripes are the covered porches and balconies. Their area totals 1980 square feet, one third of which is counted towards the adjusted square footage, bringing that to 659. When you total these numbers you will see that the adjusted square footage of this fabulous home is 6,476.

When a realtor gives you the square footage of a house, chances are that he or she is referring to the adjusted square footage because that takes into account the measurements of all of the areas that are actually used, while not giving full credit to the un-air conditioned areas. However, because most houses have three sets of numbers floating around, the issue can often become confused. For example, the Miami MLS displays all three numbers, Realtor.com utilizes the actual square footage, while Zillow.com tends to show the adjusted, meaning that there is no consistency when a buyer starts their search online. EWM Realty International is actually working to change that and make real estate websites uniform, but in the meantime just give me a call and I can help you understand the facts!

If you are looking to buy or sell a home anywhere in Miami, please call me at 305-798-8685, 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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Feng Shui

As a realtor I have heard a lot about feng shui over the years, but today I had a first. I showed my listing at 5527 SW 87th Street to a couple who actually brought their feng shui specialist with them! Good news: the house ticked off all of the requisite boxes to be considered feng shui!

You probably have a basic concept of feng shui, which is the Chinese concept of orienting your home (or another building, monument, etc.) and the contents of your home in an auspicious way. In theory I know what the practice is, but having now met an actual specialist, it is much more complicated and involved than I actually knew.

After my showing, I Googled “feng shui” to write this blog and . . . wow! There is so much to know! I started reading a Wikipedia article on the matter and it was very detailed and included the various schools of feng shui and I could not even begin to narrow it down to a bite-sized blog. Then I found a much easier to understand article on thespruce.com, “Some Basic Principles of Feng Shui,” that boils it down quite succinctly. Read the article by clicking here.

The article gives you some good insight on the ancient practice, and I think that author Rodika Tchi summed it up nicely with this paragraph: “Feng shui is sometimes thought to be the art of placement—understanding how the placement of yourself and objects within a space affects your life in various areas of experience. It is a complex body of knowledge that teaches you how to balance and harmonize with the energies in any given space—be it a home, office, or garden. Its aim is to assure good fortune for the people inhabiting a space. Although regarded by some in the scientific community as a pseudo-science, feng shui has had an impact on the aesthetics of interior design and the architectural layout of living and working spaces both in its native eastern and, more recently, western cultures.”

Enjoy reading the fascinating article, and if you want to see feng shui in Miami, come to my listing at 5527 SW 87th Street. You will not be disappointed!

If you are looking to buy or sell a home anywhere in Miami, please call me at 305-798-8685, 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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“How’s the Market?” – Insight into Miami’s Real Estate Market

I am often asked about the Miami real estate market, and I am happy to talk about it to anyone who will listen. Today, though, I want you to learn about it from one of Miami’s foremost experts, Ron Shuffield, President of EWM Realty International. He has written a fascinating piece called “Insight,” which analyzes 2018’s market and predicts what is ahead for 2019. Click here to enjoy reading it and let me know if you have any questions.

If you are looking to buy or sell a home anywhere in Miami, please call me at 305-798-8685, 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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The Effect of Interest Rates

Interest rates are always something that we keep an eye on in the real estate business, for obvious reasons. Lately they have been fairly stable, but there is always talk of rates going up. If you take a peek at the chart above, you will see that even a small increase in rates can have a major impact on your buying power.

Lately in Miami we have had a lot of inventory on the market and prices that are coming down slightly, making this a great time to buy. With some 30 year fixed mortgage rates that are even lower than the baseline 4.5% noted in the chart, your dollar will go further today than it will when rates inevitably increase. Let’s go house hunting!

If you are looking to buy or sell a home anywhere in Miami, please call me at 305-798-8685, 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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What a Wonderful Weekend in Miami!

Photo from www.miamiandbeaches.com
President’s Day Weekend is a great time to be in Miami. Between the Miami International Boat Show and the Coconut Grove Arts Festival, there is a ton to do over the holiday weekend! While I have been to the Boat Show several times in the past, I have not visited it at its new Miami Marine Stadium location, which I hear is fabulous – and is much more convenient to me than Miami Beach was.

Having grown up in Coconut Grove the Arts Festival has always been near and dear to my heart. Did you know that it was founded in 1963 by Charlie Cinnamon? What was once a quaint little art gathering is now a massive event that finds approximately 120,000 people looking at and buying art, watching live entertainment, and of course eating and drinking!

This weekend is supposed to be sunny with highs just hitting 80 degrees and lows in the low 70’s. I hate to rub it in to out of towners, but between that forecast and these amazing activities, why are you not in Miami this time of year?

If you are looking to buy or sell a home anywhere in Miami, please call me at 305-798-8685, 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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More Thoughts on Ygrene

If you live in Florida, then chances are that you have heard about Ygrene loans. In a nutshell, these are home improvement loans that a homeowner can get with no money out of pocket to improve the eco-friendliness of their homes. Once the work has been done by a Ygrene approved contractor, the owner then begins paying for the work as a part of their tax bill – essentially this is a lien. While this is great for the homeowner I have very mixed feelings about the program as a realtor, and I think that some of my sellers who have gone the Ygrene route in the past would not choose to do so again.

I have had a few listings that have been renovated using Ygrene funds. The houses have all looked great and had things like new impact glass and new roofs, so what could be wrong with that? The problem is that the owners are trying to sell these improvements at a premium without having finished paying for them. Each and every time I have had a Ygrene property, the owner has thought that the buyer would simply take over their tax bill payments. However, that would mean that the buyer would be double paying for the work by purchasing the improvements with the home and then paying off the loan over the course of their home ownership. Frankly, buyers are too savvy for that! Even if they are not so savvy, then their banks will likely not allow them to assume the Ygrene payments.

Eventually what happens is the seller has to pay off the loan prior to selling their home, and that can be a big chunk of change that can also include a pre-payment penalty. Whenever this comes up I always wonder if a home equity loan would have been the way to go to make these home improvements. Every situation varies, though, and I suppose that there is not really a good answer to that question. A seller might not have enough equity in their home to get the necessary funds for repairs, or maybe Ygrene sounded like a great plan because they were going to stay in the house for 30 years but they are now getting a divorce.

Ygrene always seems like a great option, but be sure to do all of your research before committing to this type of program because, although it can do wonders for a house, it is not always the perfect program that it is cracked up to be.

If you are looking to buy or sell a home anywhere in Miami, please call me at 305-798-8685, 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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This Week’s Mortgage Rate Anomaly

Photo from thedailyprogress.com
Time and again I’ve heard that federal interest rates are going to go up, and they have done so recently. That has had many people asking me about mortgage rates, and those have also been climbing of late. For instance, the rate for a 30-year fixed rate mortgage was at 5.05% in November – an 8-year high. This week, though, a 30-year fixed is back down to 4.75% due to the downturn in the stock market, which has “investors head[ing] to the relative safe-haven of the bond market,” according to Diana Olick of CNBC.com. She continues by saying that “mortgage rates follow loosely the yield on the 10-year U.S. Treasury,” which explains why rates have been more favorable this week. Read the full article by clicking here.

This week’s downward-trending mortgage rates are great, but I do think that we will see rates increasing overall. As previously mentioned, interest rates are expected to climb, and this will drive mortgage prices higher in the long run. I wish that I had a crystal ball and could tell you how high they might go or how it will impact the real estate market, but as of right now, only time will tell. If you are looking to buy a new home or to refinance your current one, now is the time to act!

If you are looking to buy or sell a home anywhere in Miami, please call me at 305-798-8685, 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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Two Steps Forward for Coral Gables

Photo courtesy of Photo from Miamidade.gov
Since before 2016 I have been hearing whispers that Coral Gables planned on annexing High Pines and Ponce Davis. On the heels of those whispers have been rumors that the County would only relinquish those very well-to-do areas if the Gables also took over the Little Gables section. Those whispers and rumors became news back in 2016 when the Gables actually started the process of annexing these areas.

We are not living in the Wild West, so Coral Gables did not simply get to stake its claim on High Pines, Ponce Davis, and Little Gables. Rather, it is a complex process and if you look at the annexation schedule on CoralGables.com you will see that the city will have to progress through 17 steps/meetings for Little Gables and 15 for High Pines and Ponce Davis. That is a lot of bureaucracy!

So where do we stand? Back on March 20th, the County Board of Commission voted to move the Little Gables annexation application to the Planning Advisory Board, and on June 5th, the Commission did the same for the High Pines and Ponce Davis application. Those are two good steps forward for Coral Gables. With 9 more hurdles to jump, let’s hope that these applications don’t take two steps forward and two steps back!

For more information about this process, visit https://www.coralgables.com/annexation-process-test and https://www.miamidade.gov/incorporationandannexation/coral-gables.asp

If you are looking to buy or sell a home anywhere in Miami, please call me at 305-798-8685, 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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