Ramesh Nyberg's Real Estate Blog

Since I last visited with you here, the new listing (19820 SW 115 Ave) you saw announced on January 4th, the new listing in the Gables (630 Majorca), and my listing in Pinecrest (12940 SW 74 Ave) all went under contract. All this happened in the space of 8 days.

It was a frazzled--and quite exciting--whirlwind of a week. Then, it got so quiet you could hear a lockbox close down the street. Such is real estate.

In the background of all this, I've been monitoring my new website, www.soflaforeclosures.com to see what's been happening. The listings I have put up there (donated by other Realtors) have been moving. Banks are starting to see what the market is all about. They are negotiating, and they are price-reducing. Of the 24 properties I listed on the site a month ago, five have gone under contract. That's a little less than a 5:1 ratio, and that's worlds better than the rest of the market (see the graphs at my Sales By the Numbers page) is doing. We have sections in Cutler Bay with over 100 properties unsold, and seeing 2-3 sales per month in contrast.

Granted, that's a select group of foreclosures. But it shows that well priced properties, marketed by a professional company (they are all Coldwell Banker listings) can and will move!

If you have even a mild interest in finding a good deal, maybe for an investment, maybe for a friend or family member, please go there and look. Or call me. I like making things happen.

Have these mornings been beautiful or what?

Yesterday, my daughter and I walked down to the bay, and luckily found the new Palmetto Bay bayfront park open. They were working on the house there, so we were the only ones there, save for a neighbor named Linda and her dog. We had the small strip of bayfront to ourselves, and Linnea spent a few minutes doing what kids love to do, throw rocks in the water, look at the minnows swirling around in the shallows, and generally poke around. The weather was perfect, and I looked out over the bay and took stock of how fortunate I am to live here.

The Deering Estate area where we live is such a treasure. Where else can you go, in this area, to actually be on the bayfront. There is no place. Everywhere south of here is National Park bayfront, and, thankfully, cannot be built upon, so it is inaccessible. The next available place to enjoy the bay is Gables Estates, and Gables by the Sea, if you live there, and then, Matheson Hammock.

There has been a steady increase in interest in foreclosure and short sale properties. I've been getting lots of calls and emails about them, and I'm actively working with three investors who are on the cusp of making some very good deals. Palmetto Bay continues to be a favorite place for young families to move-- I am seeing more and more quality homes in the mid and even low 300's. That was unheard of a year ago.

Speaking of this area and it's attributes: there will be a hearing on February 25th regarding the Palmer Trinity Expansion. It has the neighbors of the school up in arms. I can see their point, in fact, the increased traffic will impact me and everyone else in this quiet neighborhood. The stadium, the lights, and the extra buildings they are planning to replace the 32 acres of mangos may be great for the school, but can only be a negative for the surrounding homes. The only traffic we ever experience around here is Palmer-related now. An increase would not be welcomed, especially on narrow little 82nd ave, which at one point becomes one-lane. My sons used to call it Racoon Road, because almost every time we went by there was a family of raccoons crossing the street. We don't see them anymore. Maybe they got the word of the expansion way before everyone else. If you live in Palmetto Bay, especially on the south side, this is an important meeting.

By the way, I am now on Facebook, for those of you who utilize it. It is actually pretty cool, and is a nice way to stay in touch, share pictures, etc. I find it much easier and friendly to use than Myspace. Come say hello some time. I'm still learning all the crazy stuff you can do on Facebook, so you might teach me something new.