Author Archive for Georgeé Kluck

Mid-Year 2018 Miami Real Estate Market Report

Miami Real Estate Market Report: Mid-Year 2018

Taking a birdseye view of Miami-Dade County’s single-family home market, inventory appears steady over the past 6 months. There are approximately 6,000 homes for sale in Miami-Dade County. Sales are up with an average of 1,200 homes selling per month over the past 12 months.

At a glance, it appears to be a well-balanced market. Fact is, one could report on the market and skew the numbers to say most anything, “it’s an extreme sellers market!” or “the sky is falling!,” The story differs drastically depending upon the price range and the neighborhood, the current market is price specific and very local in nature.

Over the past 30 years, I’ve experienced many markets. Today’s market is most interesting—it differs not only from one Miami neighborhood to another, but there are often multiple markets within each neighborhood. I would like to wrap this report into a neat little package and give you a simple recipe to determine your home value (like Zillow unsuccessfully tries to do), but there are many factors to consider in the “art” of pricing.

Finding an affordable home in Miami-Dade County (under $300k) is extremely difficult. In this price range, there is an average of around 600 homes for sale each month and an average of 400 selling. There is less than 1 month of inventory resulting in an aggressive sellers market.

Between $300K-1$M is a zone to be very cautious when pricing. Homes vary between balanced and buyers market. Each $100k pricing increment has its own market trend. Overall, prices are edging up, yet hundreds of homes are left unsold and languishing on the market.

The market between $1M and $2M is probably the most complex. It often includes a combination of waterfront and non-waterfront homes in varying neighborhoods. Overall values remain consistent across the board with 12-30 months in inventory resulting in a buyers market.

The price range of $3M to $5M is experiencing a decrease in inventory. Value remains steady in spite of a decline in the number of sales. There is a strong buyers market with approximately 30 months of inventory.

The number of homes in Miami on the market over $5M is soaring with a 50% increase since the same time last year. At this price point, less than 1 home sells every 2 months. Most people in this price range do not “have to” sell and there is no evidence that the market has decreased in value.

Yes, it’s a complicated real estate market. Yet, there are a few words of advice I live by:

  • One cannot go broke making a profit.
  • With the lowest interest rates in history, it is far more likely that prices will go up than interest rates go down.
  • Neither you nor I can accurately predict what the market is going to do. Make your real estate decisions based upon “today’s” market and don’t let a few dollars more or less stand in the way of your quality of life.

The National Association of Realtors reports 5.5 million homes sold in the US in 2017 and more than 2 million licensed agents. The top 1% of agents conduct the majority of the sales.

When making real estate decisions, choose an agent with a proven track record that is going to consider your personal situation and your unique market.

Georgeé & Company is in the top 1% of agents in the nation. Our success is built on looking out for our customers’ needs.

Call me today at 305 608 5269. My team has the reputation and expertise you are looking for.

Give so kids can grow to change the world!

KW Kids Can is an educational nonprofit that engages the next generation of entrepreneurs and leaders. Young adults learn how to gain their edge in an increasingly competitive world with concrete tools that help them live life to the fullest.

Donate just $5/ticket and receive a chance to win one of 3 great prizes!

1) 1-year Home Warranty ($350 value)
2) Dinner at Pinch Kitchen ($100 value)
3) Massage therapy session with Christie Richter

Stop by Georgeé & Company’s Keller Williams Miami office at 700 NE 90th Street to enter.

Can’t make it to our office? You can still donate and enter to win in an easy two steps:
1) Go to https://app.kwkc.org/donate and complete your $5 donation. Select “#351-Miami NE- Miami, Florida” for Keller Williams Affiliation data field.
2) Then, email david@georgeekluck.com with your name/phone number and a note that you just donated to KWKC.

Winning raffle tickets will be drawn on Friday, November 4, 2017. Raffle organized by Georgeé & Company Keller Williams Realty and all proceeds benefit KW Kids Can. Learn more at kwkc.org.

Helpful Tips for Trick or Treat Night!

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Halloween is an exciting time of year for kids (as well as kids at heart!). To help ensure they have a safe holiday, our team at Georgeé & Company Keller Williams Realty is happy to share these tips from the American Academy of Pediatrics …

ALL DRESSED UP:

  • Plan costumes that are bright and reflective. Make sure that shoes fit well and that costumes are short enough to prevent tripping, entanglement or contact with flame.
  • Consider adding reflective tape or striping to costumes and trick-or-treat bags for greater visibility.
  • Because masks can limit or block eyesight, consider non-toxic makeup and decorative hats as safer alternatives. Hats should fit properly to prevent them from sliding over eyes. Makeup should be tested ahead of time on a small patch of skin to ensure there are no unpleasant surprises on the big day.
  • When shopping for costumes, wigs and accessories look for and purchase those with a label clearly indicating they are flame resistant.
  • If a sword, cane, or stick is a part of your child’s costume, make sure it is not sharp or long. A child may be easily hurt by these accessories if he stumbles or trips.
  • Do not use decorative contact lenses without an eye examination and a prescription from an eye care professional. While the packaging on decorative lenses will often make claims such as “one size fits all,” or “no need to see an eye specialist,” obtaining decorative contact lenses without a prescription is both dangerous and illegal. This can cause pain, inflammation, and serious eye disorders and infections, which may lead to permanent vision loss.
  • Review with children how to call 9-1-1 (or their local emergency number) if they ever have an emergency or become lost.

CARVING A NICHE:

  • Small children should never carve pumpkins. Children can draw a face with markers. Then parents can do the cutting.
  • Consider using a flashlight or glow stick instead of a candle to light your pumpkin. If you do use a candle, a votive candle is safest.
  • Candlelit pumpkins should be placed on a sturdy table, away from curtains and other flammable objects, and not on a porch or any path where visitors may pass close by. They should never be left unattended.

HOME SAFE HOME:

  • To keep homes safe for visiting trick-or-treaters, parents should remove from the porch and front yard anything a child could trip over such as garden hoses, toys, bikes and lawn decorations.
  • Parents should check outdoor lights and replace burned-out bulbs.
  • Wet leaves or snow should be swept from sidewalks and steps.
  • Restrain pets so they do not inadvertently jump on or bite a trick-or-treater.

ON THE TRICK-OR-TREAT TRAIL:

  • A parent or responsible adult should always accompany young children on their neighborhood rounds.
  • Obtain flashlights with fresh batteries for all children and their escorts.
  • If your older children are going alone, plan and review the route that is acceptable to you. Agree on a specific time when they should return home.
  • Only go to homes with a porch light on and never enter a home or car for a treat.
  • Because pedestrian injuries are the most common injuries to children on Halloween, remind Trick-or-Treaters:
    • Stay in a group and communicate where they will be going.
    • Remember reflective tape for costumes and trick-or-treat bags.
    • Carry a cellphone for quick communication.
    • Remain on well-lit streets and always use the sidewalk.
    • If no sidewalk is available, walk at the far edge of the roadway facing traffic.
    • Never cut across yards or use alleys.
    • Only cross the street as a group in established crosswalks (as recognized by local custom). Never cross between parked cars or out driveways.
    • Don’t assume the right of way. Motorists may have trouble seeing Trick-or-Treaters. Just because one car stops, doesn’t mean others will!
    • Law enforcement authorities should be notified immediately of any suspicious or unlawful activity.

HEALTHY HALLOWEEN:

  • A good meal prior to parties and trick-or-treating will discourage youngsters from filling up on Halloween treats.
  • Consider purchasing non-food treats for those who visit your home, such as coloring books or pens and pencils.
  • Wait until children are home to sort and check treats. Though tampering is rare, a responsible adult should closely examine all treats and throw away any spoiled, unwrapped or suspicious items.
  • Try to ration treats for the days and weeks following Halloween.

©2016 American Academy of Pediatrics

Tis’ the Season to Sell

 

The Top 11 Best Reasons to Sell Your Home During the Holidays

1. People who look for a home during the holidays are more serious buyers.

2. Serious buyers have fewer houses to choose from during the Holidays and less competition means more money for you.

3. Since the supply of listings will dramatically increase in January, there will be less demand for your particular home! Less demand means less money for you.

4. Houses show better when decorated for the holidays.

5. Buyers are more emotional during the holidays, so they are more likely to pay your price.

6. Buyers have more time to look for a home during the holidays than they do during a working week.

7. Some people must buy before the end of the year for tax reasons.

8. January is traditionally the month for employees to begin new jobs. Since transferees cannot wait until Spring to buy, you must be on the market now to capture that market.

9. You can still be on the market, but you have the option to restrict showings during the six or seven days during the holidays.

10. You can sell now for more money and we will provide for a delayed closing or extended occupancy until early next year.

11. By selling now, you may have an opportunity to be a non-contingent buyer during the Spring, when many more houses are on the market for less money! This will allow you to sell high and buy low.

Ready to give yourself the gift of more money from the sale of your home?

Maximize year-end real estate market opportunities by calling Georgeé today at 305-628-5269 or emailing gk@georgeekluck.com.

Source: KW MAPS Mastery Monthly e-newsletter, October 2015

Georgeé’s Bay to Beach Market Observations

Mid-Year 2016 Real Estate Market Report

Media reports offer conflicting information and analysis regarding real estate market trends. Fact is, there are many factors that go into the market trends and they can be manipulated to say almost anything you want them to say.

On a very local level, these are my observations mid year 2016 regarding Miami’s northeastern Biscayne corridor to the beaches:

  • Currently, real estate trends are price specific, meaning, that dependent upon the price you are buying or selling you have a different market situation.
  • All price ranges have experienced a considerable increase in inventory.
  • At the present time, the condo and the single family homes are following two completely different trends.
  • There are buyers in the marketplace and homes are selling. The attitude of the buyer has adjusted and most are apprehensive about the future values. This is reflected in their reluctance to “stretch upward” on the ultimate purchase price of their investment.
  • Many homes are sitting on the market. The true test of a seller’s flexibility is their motivation. There are many sellers in the market that would “like” to sell but do not “have to sell”. Any adjustment in values will be in direct proportion to how many sellers “desire” to move forward with their plans. The number of truly “motivated” sellers will determine the market trend.
  • This same time last year we have experienced approximately a 10% reduction in value for the average selling price in most price ranges.

Click here to view detailed recent market trends and reports.

Do you want an honest and straightforward assessment of the market and how it applies to your situation? I offer you as much information possible. I help you self discover by asking you questions about your goals. Together we consider the positive and negative ramifications of your decisions and I help you assess what the best decision is for you given that information and the timing in today’s market.

I and my team are here to help and our accent is always on YOU! Call me today at 305-608-5269 for a private consultation.