For those exploring the luxury real estate market, the communities of South Florida offer the best anyone could ask for – exquisite winter weather, welcoming neighborhoods and lifestyle benefits, to name a few.  But for those looking more specifically for homes with unique character like Spanish Colonial Revival style architecture, there’s one place in particular to look – amidst the Pinecrest, Florida homes for sale.

Since the early 1900s, Florida architects have been turning out stunning Spanish Colonial Revivals across Florida.  Inspired by the Mediterranean Revival architectural style which first appeared in the city of St. Augustine, Spanish Colonial Revival style bears striking similarity to its stylistic California cousins, the California Missions.

Spanish Colonial Revival style homes all exude a captivating ambience – care of such striking characteristics as smooth plaster walls and chimneys, terracotta or cast concrete ornaments, and low pitched shed or flat roofs, typically constructed with clay tiles.

These graceful buildings also carry the hallmark Spanish Colonial elements of small balconies, wood casement and large double-hung windows and charming canvas awnings.  When perusing the inventory available among the Pinecrest homes for sale, Spanish Colonial Revival enthusiasts can find an impressive collection of houses bearing the finest craftsmanship in the trademark semi-circular arcades and unique decorative iron trim pieces.

Take for example this magnificent Spanish Revival Pinecrest home for sale which boasts 6 bedrooms/8 baths and soaring ceilings.  The kitchen features marble and custom wood which accent the lovely Spanish style.    The family room and master suite are light and bright and the grounds include a heated pool, covered patio and guest house – listing price $1,995,000.

The features of this estate and other Pinecrest homes for sale of the Spanish Colonial Revival Style offer a calm and gracious setting – perfect for those looking to enjoy  the best luxury real estate that South Florida has to offer.

To learn more about the beautiful community of Pinecrest, Florida, or any of the 8 other South Florida communities we serve, check out our Communities Page, then start the search for your next home.

One thing to keep in mind as your project draws to a close is the “Construction Lien Law.” This law allows a contractor to place a lien against your property if they are not paid for services performed. This sounds like a no brainer, but there are nuances that are important to understand. Before making final payment on any work done, it is recommended that you obtain all final inspection reports and a final release of lien from the contractor who performed the work. In addition if possible obtain a list of all suppliers and vendors the contractor will use and their notarized signature for good measure.

These documents are your proof that the contractor you selected did satisfactory work and paid all suppliers, subcontractors and anyone else involved with the project. In the case that the contractor didn’t disclose all vendors they used or has not made a payment to a critical supplier you could be held liable under the Construction Lien Law even if you paid your contractor an agreed amount in full. Before making final payment, check to make sure that the contractor has paid all vendors they disclosed and that no new vendors were added.

Choosing a highly regarded and trustworthy contractor goes a long way toward preventing this problem but even then its important to stay on top of the situation, obtaining forms and verification as needed. As with many other situations, being informed is your best defense. If you would like more information on the law, please visit the MyFloridaLicense information page.

This post was written for information purposes only and as such is not official legal advice. If you intend to hire a contractor please do your due diligence and research both the contractor and this law to best protect yourself and your assets.

In November, The Miami Herald reported good news that South Florida was at the epicenter of residential real estate sales to foreign buyers and international sales would be even stronger in 2012.  The article went on to say that residential inventory in Miami-Dade fell from 25,769 in August 2010 to 15,405 in 2011.  Boy, do we know that is true.  Inventory is way down and our agents are having to draw upon our network to show houses that aren’t even on the market to our buyers. On December 31^st, the Herald took away our champagne toast with a headline stating that housing was still a dark cloud in South Florida’s economic future.  A dark cloud? Really?  This of course was prompted by Moody’s call for a 12 percent drop in South Florida real estate values during 2012.  The crux of Moody’s forecast hinged on the shadow inventory of foreclosures that are feared to enter the market this year.  The headlines have been confusing.  Here is what we know from the trenches on a daily basis -

1. Real Estate is Local in Nature – Just because aggregate numbers about the market in general may look gloomy, many communities buck the trends and are performing quite well.
2. Mortgage Rates at Lifetime Lows – The 30 year fixed rate average was 3.95% and the 15 year fixed averaged 3.24% in December.  Five year ARMS were at 2.88%.  These rates are down over 20% from a year ago.  Many of our buyers who can afford to pay cash are opting to finance because frankly – Why wouldn’t they?
3. Inventory Low – As a company, we aim to work with buyers and sellers evenly.  In recent months, we’ve been working with many more buyers than sellers.  Our buyers are sophisticated foreigners as well as domestic residents.  They hail from Brazil, New York, Spain, Venezuela, India, Pinecrest, Coral Gables, Key Biscayne, Davie, Plantation, Miami Beach, etc.  They are bankers, lawyers, engineers, retirees, investment advisors, health care leaders, internet entrepreneurs and the list goes on.  We frequently find the need to extend our search to properties that are not on the market for sale in order to satisfy their needs.  There’s just not that much good inventory out there right now.
4. Shadow Inventory Not as Big as You Think – Going back to my previous point about geography, I don’t believe there is a large “shadow inventory” of foreclosures lurking in the more desirable neighborhoods.  First of all, the term “shadow inventory” is defined differently depending on who you talk to.  It’s usually a combination of bank-owned properties not currently on the market (a real number) combined with a nebulous estimation of foreclosures expected to hit the market in the future based on data marking when people stop paying on their mortgages and lender lis penden filings.  I think these estimates are severely over inflated.  A lot of properties where people have stopped paying their mortgages or where lis pendens have been filed are already on the market in plain view for everyone to see; not lurking in the shadows.   Further, many of the bad loans that were made during the boom years were made looking through rose colored glasses in locations that were hugely inflated.  The adage “location, location, location” is the one thing you can always count on in real estate.  The desirable locations are on a much faster track of recovery.
5. Rental Market on Fire – As you may know, the rental market is incredibly strong.  As consumers coming out of the Great Recession have experienced damage to their credit, they are opting to rent rather than buy for the time being.  These demands have put a huge strain on the rental inventory.  Rental properties are hard to come by and when you find one that fits your needs you need to move fast.  The flip side of this trend is a positive one for the market in general.  The high rental rates owners are achieving continue to have an effect on price appreciation.  Just look at the downtown Miami condo market and you will see a complete recovery where we have long since passed the bottom of the market.
6. Life Goes On – Finally, people are still having babies, graduating from college, getting married, getting divorced and so on.  As one of our agents said to me the other day, “I think my clients are experiencing recession fatigue!”  When I asked her what she meant, she said that they were simply tired of sitting on the sidelines.  They were expecting a second child, feeling cramped in the house they’ve been in since they were married and tired of sitting on the sidelines waiting for the market to bottom out.  They were ready to move on and enter the marketplace.

That said, I think 2012 will be the year we all move on…

Many wishes for a happy and healthy new year!

Location, location location – the adage still rings true when it comes to real estate. The prime Brickell location (steps from the metro mover and many restaurants) is one of many features that make this apartment stand out among others on the market. This stunning fully furnished Four Seasons condo is located on the 44th floor with gorgeous ocean, bay and city views. The unit has been tastefully and brilliantly furnished by Cynthia Foti Interiors a prestigious NY design firm. It boasts a stately entry with double wood doors & a bright + open living area with full height windows. The kitchen has Poggenpohl cabinets, granite countertops & top of the line stainless steel appliances. Enjoy the best lifestyle and location in Miami – 50,000 sq sports club, 2 acre pool terrace, on site restaurants and Four Seasons hotel services and amenities.

For more information click here to view the property webpage!

The Deering estate is a historic Miami landmark described as an “environmental, archeological and historical preserve.” The Deering family owned the estate until sale of the property was brokered to the State of Florida. The estate has since been maintained by the state and has become a local attraction. The estate is open for visitors almost every day and their events calendar is packed with activities for people of all ages.

On Valentines day the Deering Estate will host a special “Moonlight and Music” concert. In their own words, “The Valentine’s Day Concert at the Deering Estate offers couples the opportunity to celebrate their love at a romantic, outdoor concert under the stars, on the edge of Biscayne Bay.” The “Moonlight and Music” concert is also the first night of the two week SoBay Festival of the Arts that will take place at there.

For more information visit the Deering Estate official webpage or follow this link directly to the Events Calendar.

5 Reasons a Coconut Grove Home Should Be In Your Future

Welcome to January where the sun always shines and the air is so warm you never need a sweater when you go outside.  That’s true of where you live, right?  Maybe not.  Although much of the U.S. is enjoying unseasonably warm January weather, we’re pretty sure that if you live north of the Mason-Dixon Line (and even quite a bit south of it), you’re not celebrating winter in your shorts.

However, that could all change with the purchase of a new home in sunny South Florida where every day could be one in paradise living in a stunning high rise condo or a luxurious Coconut Grove home.

While you probably don’t need much motivation to consider such an awesome lifestyle change, we’re here to offer 5 reasons you should do more than dream about South Florida luxury real estate:

1. Beach Time

Everyone knows that Florida is prized for her fantastic beaches.  With nearly 2,000 miles of coastline, beach fans can enjoy everything from a great barbeque, to body surfing, to volleyball on the shore.

But South Florida outshines much of the state with some special beach gems such as Lummus Park Beach (in South Beach) where you can not only get a tan but catch the occasional supermodel getting one, too.

2. Winter Weather

You know what beats curling up in front of a fire on a winter evening?  Strolling along the beach and taking in a gorgeous South Florida sunset.  Florida’s famed balmy winter weather has attracted northern transplants for years, which makes sense.

In Minneapolis the average winter temps range from 2 – 37 degrees (with 45 inches of snow).  In South Florida, the winter temps maintain a comfortable 68 degree average with no snow in sight.

3. Incredible Luxury Real Estate

Remember that beautiful new Coconut Grove home waiting for you?  As you begin to pack for the move, consider inviting your friends to come down and check out your neighborhood.  They’ll find a number of homes in a variety of luxurious styles and sizes.

Other neighboring communities have unforgettable homes for sale, as well.  Take a tour of Coral Gables, High Pines, Key Biscayne or Palmetto Bay to find some of the most beautiful real estate and homes for sale in the state.

4. Lifestyle Changes

The folks in Florida have made living outside an art form.  Beyond the traditional favorites of bike riding and hiking, you can trade in your cross country skis for a windsurfing board to roll across the waves of South Florida (contact the South Florida Windsurfing Association) or a canoe to explore Biscayne Underwater National park.

And if you’re in the mood to take in the unmatched art South Florida has to offer, check out the Art Deco Walking Tour in the historic Art Deco district to find classic deco hotels including the Carlyle which was the setting for the film “The Birdcage”

5. Possibilities

There’s nothing like a walk on the beach or a morning in the sunshine to help awaken the possibilities your life might hold.  You could join the group of happy transplants who found their mojo in south Florida such as:  Sidney Poitier, Andy Garcia, William H. Macy or the more than 20 professional athletes who have migrated to south Florida and call it home.

There are so many reasons South Florida with its unmatched luxury real estate is the perfect place to make your new home.  Now that you’ve seen all the reasons why you should buy that Coconut Grove home, the question shouldn’t be “what’s stopping you”, but rather “when can you move in?”.

Check out our Coconut Grove community page to find why your perfect home is here.

Beaux Arts Festival Art

The 61st annual Beaux Arts Festival of Art takes place this weekend – January 7th and 8th. The Beaux Arts Festival is expected to be larger than ever before in 2012. Over 100,000 people are expected to attend to see exhibits by over 240 artists from all over the world. Beaux Arts is an organization that supports the University of Miami’s Lowe Arts Museum. As such the show will take place on UM’s Coral Gables campus and Festival attendees be treated to complimentary access to the Lowe Art Museum as a part of admission to the Festival. Tip: Park at the Bank United Center if possible. If you do attend, say hello to Lowell International Realty team members Lani Drody and Carrie Foote who will be volunteering at the Festival!

More information available at the Beaux Arts official webpage

The Las Olas Art Fair

If you’re in the mood for back to back art shows, you can also stop by the Las Olas Art Fair that’s also happening this weekend. The Las Olas Art Fair is a huge art event that takes place along Las Olas Boulevard. Artists come from all around to display some of their finest work including sculptures, paintings, ceramics, jewelry and more. Along with the displays will be refreshments and other entertainment. The Las Olas Art fair is in its 24th year and is a South Florida staple event for creatives and art aficionados. The Art Fair happens this weekend January 6 and 7th from 10am to 5pm – If you dont have plans this weekend, here’s one more option!

More information available at the ArtFestival.com webpage.

Our newest listing is a beautiful modern townhome in the heart of Coconut Grove. Coconut Grove is known for its diverse real estate offerings ranging from old cottage style homes to newer sprawling luxury properties. This townhome is yet another variation on the Grove formula: a contemporary property with an open floorplan and tons of charm. Here’s some of the official information on the property for sale:

Located in the heart of Coconut Grove, this contemporary home features clean lines and a modern elevation that is elegant in its simplicity. The home has consistent and unified design motifs inside and out and is a brilliant new-age home with today’s touches. Discerning buyers with an eye for the modern will gravitate to this townhome due to the styling and its central location in the Miami metro area.

For more information please contact us by phone at 305.520.5420 or take a look at the property website or the virtual tour.

You’ve gotta love this time of year. Everybody’s putting their wish lists together for the holidays – hoping for everything from the biggest TV to the cutest socks. But if you are in the market for a new home, before you submit your final draft, consider adding “South Florida Luxury Real Estate” to your list.

Buy now, you ask? Absolutely! Despite the fact that many homebuyers put their house shopping on hold to focus on holiday fun, now is the perfect time to check out the homes just begging a visit from you.

Here are 4 reasons why you should buy now:

1. It’s still a buyer’s market. As we round out 2011, sellers are more motivated than ever to part with their homes. When you add in the holiday time factor where buyer traffic is traditionally less, some sellers will drop their prices even more to attract attention.

And because less inventory goes on the market this time of year, it’s often largely a reflection of how eager sellers are to get the process rolling. It’s a fairly tight window, as the market and prices tend to pick up after the New Year. So consider making a move sooner rather than later.

2. You get first pick of the cream of the crop. Just like you thought before you read this article, most home buyers aren’t concentrating on finding that new home because of the holidays and have shelved their house hunting. That gives you more opportunity to find gems that might otherwise have been snatched up.

Want to find the best choices available now? Check out our Florida real estate listings for the finest available luxury real estate on the market.

3. Low Interest rates make financing more fun. Mortgage rates still continue to be the lowest in years. In fact, they’ve hit record lows. Add to that the historical dips in rates in December and January and it’s hard to think why you shouldn’t buy now.

We do suggest that if you are seriously considering that perfect luxury home soon, be sure to get your financing in order before you submit an offer to expedite the process.

4. Year-end tax benefits are hard to ignore. Want to keep more money in your pocket next year? If you close before the end of this year, you may be able to deduct the interest for your first mortgage payment from your 2011 taxable income. Other deductions could include the price you pay for any point reductions for your interest rates.

Of course, everyone’s situation is different. Be sure to contact a tax professional to discuss your unique circumstances.

Need another reason to put on your home shopping shoes? Think about the fun of ringing in the New Year in a home that offers years of holiday celebrations ahead – the thought alone will surely beat any items you can add to your list.