Burglar Alert

I tour the streets a lot on a daily basis and I hope I catch someone in the act one day. I hate thieves as well as liers, but thieves are on top of my list. Not that I would pull a Rambo or anything like that- My Rambo days are over. I know a simple call to the police will do the job. Gables police have a pretty good response time.

It seems we've had rash of residential burglaries in Coral Gables and it's been an ongoing problem for several months now, so police want to make sure that everyone takes the necessary steps to avoid becoming another victim.

FSBO (for sale by owner) and vacant property owners would be more susceptible to these crimes, so take heed.

The best way to rid neighborhoods from these attacks, police say, is to have watchful neighbors looking after each other. Become familiar with your neighbors and look out for suspicious activity in the area. No matter how insignificant you may think a situation is, if it doesn't look right to you, call the police, they will be happy to go to your house and show you how to make it less appealing to burglars.

To set up an appointment you can call: 305-460-5402


For professional advise on all aspects of buying or selling real estate, please contact me at-786-287-9272 -email:Richard@RichardRecuset.com

Richard Recuset-Multi-Million Dollar Producer-The Recuset Group

Douglas Entrance Exchanges Hands

The closing sale of the Douglas Entrance Blgd., a 461,537-square-foot Class A office development in Coral Gables, Florida has taken place.
http://home.businesswire.com/portal/site/google/index.jsp?ndmViewId=news_view&newsId=20070327006270&newsLang=en

Seller: Colonnade Properties LLC

Buyer: Transwestern Investment Company, L.L.C. purchased the property on behalf of its discretionary equity fund, ASLAN REALTY PARTNERS III, L.L.C.

The park-style development includes four properties: North Tower/Executive Tower, South Tower, La Puerta Del Sol and the 3770 Building, which combined are 92% occupied by tenants including Phelps Dodge, Univision, EMC and Leo Burnett. Community amenities include a restaurant, conference center, ballroom and numerous open walkways and sitting areas.

http://blogntheblock.blogspot.com/2007/02/800-douglas-rd.html


For professional advise on all aspects of buying or selling real estate, please contact me at-786-287-9272 -email:Richard@RichardRecuset.com

Richard Recuset-Multi-Million Dollar Producer-The Recuset Group

Landlords will be landlords

The recent events (fiasco) in the sub-prime market has now maid it more difficult in obtaining financing for those with questionable credit. Buyers, unless they have great credit are going to have to come up with some money (no more zero down payment). This is great news for landlords. You are not going to have any problems filling up those vacant units. We may actually have housing shortages in some areas.

It is natural that tenants become first time home-buyers. But now, unless they have a decent down payment, it's just not going to happen, equating to long term tenants. With so many foreclosures on the horizon, the displaced owners will require housing, increasing rental housing demands.

When supply is down, demand is up. Rents are going to begin to increase with the demand for available housing. Who knows, maybe the rents will actually begin to justify the absurd recent prices on some of the investment properties recently and currently on the market. It may not be a bad time to look into purchasing a reasonably priced investment property, if you can find one.

The recent re-development in Downtown Gables, S. Miami, Miami has created a lot of available but not so affordable housing. Lets face it folks, if these people can't afford to buy, or are coming out of a foreclosure, they are looking for rentals they can afford. With more high rise development on the way it raises the question, where is the affordable housing? In Miami, affordable rental housing can be found in the NW Section, Little Havana (the Little Havana area is gradually and steadily transforming and very soon will not be so affordable any more), or Hialeah.

If you have been contemplating the purchase of a Miami Income Property, now might be a good time to think about putting that plan into action. If you currently own Miami units and have been contemplating upgrading them, now is the time. Upgraded rental units command higher rents and are always in demand.

Do you have Miami Income Property that you would like to sell? Are your rents anywhere near today's current market? If not you might want to consider restructuring your business plan and raising your rental income to support your asking price. Income property sells based on GRM (Gross Rent Multiplier). In plain English, your rents must support your selling price or your buyer will not be granted a loan. Sure, you can wait for a buyer with a lot of cash, but you are going to wait a long time. A buyer with a lot of cash is most likely going to split that cash up and buy multiple units. If you price your property to sell, and your rents support your price, you should be able to sell. I am highly experienced in the purchase and sale of Income Properties.

For professional advise on all aspects of buying or selling real estate, please contact me at-786-287-9272 -email:Richard@RichardRecuset.com

Richard Recuset-Multi-Million Dollar Producer-The Recuset Group

Madrid St.

Madrid St. is a wonderful tree line street that runs North-South from eight street to the intersection of Valencia Ave, just south of Coral Way and close to the Bilmore Hotel.

There are a total of 81 homes on Madrid Street.

Four homes are on the market for sale at this time:

1. 1110 Madrid St. $719,000 3/2 2,015 Adj.Sqft. /Lot 7,350 -($357 Sqft)

2. 1120 Madrid St. $699,500 2/1.5 1,501 Adj.Sqft. /Lot 5,250 -($466 Sqft)

3. 1206 Madrid St. $649,000 3/2.5 1,887 Adj.Sqft./Lot 5,250 -
($344 Sqft) !!!!BEST BUY

4. 1231 Madrid St. $619,000 2/1 1,452 Adj.Sqft./Lot 5,200 -($426 Sqft)
________________________________________________________


Most Recent Sale to Date - 10/18/06 - 1215 Madrid St. $638,000 2/2 Sqft. 1,846 Lot 5200 (house on left)





Oldest Sale Date recorded - 06/01/71 - 825 Madrid St. $29,000 2/1 Sqft. 1,544 Lot 5350

Largest Home - 1510 Madrid St. - Adj.Sqft. 4,347 - Lot 23,630

Largest Lot - 1510 Madrid St. Lot 23,630

Highest Sale Price to date - 1107 Madrid St. - $715,000 - 11/23/06 3,016 Sqft. Lot 10,500

Lowest recorded sale to date- 825 Madrid St. - $26,000 - 06/01/71 1,544 Sqft. Lot 5,350

Oldest House Built - 2420 & 2504 Madrid, built in 1923

Newest House Built- 827 Madrid, 1998


For professional advise on all aspects of buying or selling real estate, please contact me at-786-287-9272 -email:Richard@RichardRecuset.com

Richard Recuset-Multi-Million Dollar Producer-The Recuset Group

Gables Bank, Down

Our very own Coral Gables, Bank United, among many other banks is hurting. A sign of the times. Read more: http://news.moneycentral.msn.com/provider/providerarticle.aspx?feed=AP&Date=20070314&ID=6610803


See related topic http://blogntheblock.blogspot.com/2007/03/running-for-hills.html




For professional advise on all aspects of buying or selling real estate, please contact me at-786-287-9272 -email:Richard@RichardRecuset.com

Richard Recuset-Multi-Million Dollar Producer-The Recuset Group

Rentals make it tough to sell

In a cooling housing market, too many rentals in a condo building can make selling a lot more difficult.

Those holding the bag at this time (those who bought last year or the year before that, for a quick flip.) are forced to rent out the apartments to meet mortgage payments and carrying costs.

The value is negatively affected by large numbers of rentals in a condo building. There are a number of reasons, but the main one is that the tenants do not exhibit the same pride of ownership as buyers do. And investors, who are losing money monthly, are typically more inclined to sell and to sell at a lower price.

Both factors are important in today’s real estate climate, because of the slowdown. There are too many units on the market, and investors who are experiencing significant negative cash flow are more likely to discount further, lowering units and buildings value even more.

When half or more of units in a building are rented, bankers look askance. In the past you couldn’t get a 90% loan if the community that you are buying into was more than 50% rented. When lenders find out that that’s the situation, they want a higher rate of interest, since it represent a greater risk.

A large number of rentals is a clear indication of investor-owned units. Most banks place limits in the portion of a condominium that can be sold by a developer to investors to avoid this very situation.

If multiple banks lend to condominium buyers, as is frequently the case in re-sales, the condominium board usually will limit rentals, but with the sheer number of units coming on the market now, there’s almost no way you can control it.

Thus you can, at this time, rent a nice high quality unit for the same price or less as an older building. And now more people will be renting because of the housing affordability factor.

That may not be good news for the condominium owners who occupy their own units, however, if the building has a high rate of renters, renters rule and the owners stock would most likely be devalued.

For professional advise on all aspects of buying or selling real estate, please contact me at-786-287-9272 -email:Richard@RichardRecuset.com Richard Recuset-Multi-Million Dollar Producer-The Recuset Group

New Listing!!!!!

· 3Bedroom/ 2.5 Bath
(Main House)
· 1,887 Adj. Sqft

· 5,250 Sqft Lot

· Fam / Lib. Room

· Gran. Kitchen

· High Ceilings

· Wood Floors

For more info please visit my web site:
www.GablesLuxuryHomes.com

Delightful Old-Spanish charmer. A splendid true 3/2.5 gem with a wonderful guest house. It has been lovingly restored and meticulously maintained. Great Curb appeal in a tree lined street, w/Chicago brick driveway.Home features formal living and dining rooms, Family / Library room, Fireplace, Granite kitchen counter tops, French Doors, balconies overlooking beautiful landscape, 9 ft. ceilings, pinewood & white oak floors. A wonderful family layout, and wait till you see the patio!

For professional advise on all aspects of buying or selling real estate, please contact me at-786-287-9272 -email:Richard@RichardRecuset.com

Richard Recuset-Multi-Million Dollar Producer-The Recuset Group

Do It Yourself

It should come as no surprise that some people consider selling their home on their own. Americans are big do-it-yourselfers. There's even a TV network devoted to do-it-yourself projects. As a culture we're also fascinated with the law. (There's a TV network for that too.) But we know it's almost always a bad idea to represent oneself in a legal proceeding.

To build my case and have a broad impact with unrepresented sellers requires more than lip service. To further strengthen my argument to unrepresented sellers, I use hard data to demonstrate the risk sellers face when foregoing representation. For example, the National Association of Realtor's, 2004 Profile of Homebuyers and Sellers report showed the median sales price for sellers working with a sales person was $189,000 compared with $163,800 (the good old days) for unrepesented sellers. So in addition to exposing themselves to potential liability issues, unrepresented sellers almost always leave money on the table, even after accounting for the seller's agent's commission.

The same report found that the most difficult tasks for unrepresented sellers were "getting the price right" and "preparing/fixing up home for sale" each cited by about a quarter (24 percent) of the unrepresented sellers serveyed. " Understanding and completing paperwork" was cited by 22 percent.

Want more facts. Click the link. http://www.richardrecuset.com/For_Sale_By_Owner/page_1674991.html


For professional advise on all aspects of buying or selling real estate, please contact me at-786-287-9272 -email:Richard@RichardRecuset.com

Richard Recuset-Multi-Million Dollar Producer-The Recuset Group

Stage Quick

Sometimes sellers don't leave me a lot to work with when it comes to staging a home-either because they've moved and taken everything with them or because they didn't have many posessions in the first place.

I'm ready for staging

I have with me five containers, at the ready, of "stuff"-items ranging from drapes, shower curtains, and towels to books, pictures, and candles- that I use to spruce up my listings.

I dip into my staging boxes about five to six times a year. I focus mostly on the kitchens and bathrooms. Sometimes I've even negotiated items of my own as part of the deal to get the home sold.

Swank SofasThis year, elegant, simple sofas are the theme at High Point, N.C. Inspired by the bench, these sofas are decidedly feminine with curvy legs and pastel colors. Whether you're looking for French formality or casual wicker, there's a sofa waiting for you.

Chairs With FlairInnovative design and sleek geometrics are present in this year's side chairs. With personalities as big as the people who sit in them, these chairs range from mission style to contemporary looks and everything in between.

Trophy Pieces Hair-on-hide ottomans, chairs and mirrors really "mooved" into the market this year at High Point, N.C. With faux patterns like zebra and cow and even brightly dyed hides, these trophy pieces are more functional than taxidermy and, dare we say, more stylish.

For professional advise on all aspects of buying or selling real estate, please contact me at-786-287-9272 -email:Richard@RichardRecuset.com

Richard Recuset-Multi-Million Dollar Producer-The Recuset Group

Hurricane Aftermath: Who Pays?

Hurricane season is around the corner. If it invites itself to our neck of the woods and you're under contract, things could get tricky. I'll share some suggestions, and if you have any additional questions feel free to write me.

The real estate industry almost always experiences some setbacks, as hurricanes delay transactions, damage houses under contract and halt new construction.

Who pays for repairs depends on the amount of damage that was caused by the hurricane, as per contract.

Risk of Loss: If any portion of the property is damaged by fire or other casualty before closing and can be restored within 45 days from the closing date to substantially the same condition as it was on effective date, seller will, at seller's expense, restore the property and the closing date will be extended accordingly.

If the restoration cannot be completed in time, buyer may accept the property 'as is' with seller assigning the insurance proceeds for the property to buyer at closing, failing which either party may cancel this contract.

Who pays for repairs?

If the property is damaged by a casualty (hurricane, fire or tornado) before closing, the seller will be obligated to repair the property so that it is essentially the same condition as it was-and has the same features it had on the effective date.

If the seller is able to repair the property in time (45 business days), the buyer will be obligated to close. If not, the buyer may decide to take the property "as is" (with the damage from the hurricane) together with the seller's insurance proceeds and close on the closing date.

Under what circumstances can either party cancel the contract before closing?

Either party may cancel the contract if the repairs cannot be completed within 45 business days from the original closing date stated in the contract and the buyer decides not to take the property with insurance proceeds.

What is the legal definition of risk of loss?

Risk or loss is the liability for loss or damage if it occurs. The risk of damage can pass to the buyer when the contract is signed, or the risk of damage could be placed with the seller rather than the buyer.

***If you're thinking about making a move, the best time to get started is now-before the hurricane season.



For professional advise on all aspects of buying or selling real estate, please contact me at-786-287-9272 -email:Richard@RichardRecuset.com

Richard Recuset-Multi-Million Dollar Producer-The Recuset Group

Real Estate Today

If I could offer one piece of advise to anyone selling a home right now, it would be this: Don't dwell on the past. Let it go.

It's no secret that the real estate market has taken a substantial hit in the last year-and-a-half. But it's not necessarily a bad thing.

It' s more of a normal market now, as opposed to a market that was off the charts in appreciation when the local and national real estate market peaked in the spring of 2005. Sellers can no longer name their price and expect multiple offers with a fast closing. You'd be lucky if you get one offer let alone two.

The market has dipped, but is far from crashing and I don't expect it to. Today, assuming you have put a good effort in marketing the property it would take 60-90 days to sell as opposed to 15-30 days during the hey days of real estate. That trend is supported by the MLS data.

The key to moving a house as soon as possible in this soft market is establishing a reasonable price. Sellers should compare their homes with those similar to theirs that have sold in the last two or three months, not those of one or two years ago.

As an example you can't say Gee, my neighbor sold his house down the street a year ago for one million dollars, I should get 1.3 million for my house now. That won't happen, you're probably going to sell it for $950,000.

The recent drop in the market is not a bad thing, but rather an inevitable turn for a market of inflated values. This is a much more normal market and one that compares well with historical trends. Ten years ago six to nine months was the norm for days on the market. Where not there now. As long as sellers are willing to be reasonable and patient, they will be able to sell their homes.

For professional advise on all aspects of buying or selling real estate, please contact me at-786-287-9272 -email:Richard@RichardRecuset.com

Richard Recuset-Multi-Million Dollar Producer-The Recuset Group

Know the facts

Even though sales volume began to sputter in 2006, price appreciation contunues in Coral Gables.


In N. Coral Gables (33134 zip code) 2006, Single Family Home median price was $580,000 - +16% from 2005.

2006 Condos, $327,000 - +1% from 2005

In S. Gables (33146 zip code) 2006, Single Family Home median price was $875,000, +17% from 2005.

2006 Condos, $358,000 - +37% from 2005 (WOW!!)


For professional advise on all aspects of buying or selling real estate, please contact me at-786-287-9272 -email:Richard@RichardRecuset.com

Richard Recuset-Multi-Million Dollar Producer-The Recuset Group

Rentals

Remember the rent-to-own ads? Popular during the hyper-interest-rate days of the 1970's. The concept, a way for people to nudge their way into home ownership. Then came low interest rates and strong employment, and the concept went the way of disco. Owning a home became too easy for anyone to even consider leasing.

Now, affordability is an issue again, thanks to escalating housing prices, insurance costs and property taxes. Furthermore, an expected tightening in the lending market may make the creative mortgages of the recent past harder to get.

The upshot: Renting is making a comeback. Home rental rates in Miami have been increasing since last year. Too see why, simply glance at the real estate listings. A typical three-bedroom home in say, Coral Gables, cost about $700,000, bringing monthly mortgage, property tax and insurance payments (assuming a conventional loan and down payment) to upwards of $5,000 a month. Similar homes in the area can be rented for less than $ 2,500.

The increased interest in rentals is coming just as the supply of rental units is on the rise. On the apartment front, rental units had become hard to find in recent years as rental communities converted to condos. Now the trend is reversing.

More than 4,200 units that had converted to condo reverted back to apartments in 2006. In addition, many investors who bought into the slew of new condo developments are expected to become landlords. It is estimated that about 25 to 40 percent of new or converted condo units in Florida will return to the market as rentals.


For professional advise on all aspects of buying or selling real estate, please contact me at-786-287-9272 -email:Richard@RichardRecuset.com

Richard Recuset-Multi-Million Dollar Producer-The Recuset Group

The Good News

It's true that home values in S. Florida are widely expected to head south for the next year or two (with the exception of Coral Gables), but that doesn't mean that buying in Miami would be a bad investment. The days of warp speed house flipping may be over, but in the long run Miami real estate is expected to continue appreciating thanks to a shortage of land(remember, we live in a peninsula), population growth and employment gains.

National and international factors also bode well for the area, including historically low mortgage rates and a weak dollar, which makes real estate in the U.S. more attractive for Europeans, especially once south and central American vacation home prices increase. That will push the German and British vacation-home buyers to think about Florida destination as purchase location.

Then there's the X factor. In Miami, we're always one good Latin American crisis away from a housing boom, and the way things are looking (Cuba, Venezuela), that might just happen sooner than later.


For professional advise on all aspects of buying or selling real estate, please contact me at-786-287-9272 -email:Richard@RichardRecuset.com

Richard Recuset-Multi-Million Dollar Producer-The Recuset Group

Bargain Hunters On Your Mark.....

According to http://www.realtytrac.com/ the foreclosure rate in Miami jumped 97% from the second to the third quarter of 2006.That would be 1 foreclosure per every 91 households.

Back when the going was good foreclosures were hard to come by because people could just refinance or sell before the lender could take it over. The problem now is that there are fewer buyers and a lot of high leverage mortgages out, resulting in an increase in distressed residential real estate.

These distressed properties typically sell at a discount relative to the general market. And as inventories rise, the discounts also rise, according to a study by First American Real Estate Solutions.

Distressed homes during the first half of 2006 sold at a 14 percent discount to their estimated market value. Two years ago the discount on those properties was 12.5 percent.

If foreclosure is staring you in the face, refinance if you can or sell and cut your losses (Chalk it up to the price of doing business.)

For those looking for bargains in Coral Gables, sorry, don't get your hopes too high. This market is very independent of other surrounding markets. Foreclosures do exist like in any other market but are rare. So when you read reports of Florida and Miami, it does not include Coral Gables unless specifically broken down so.

Coral Gables bargain real estate most likely wont be advertised but I can lead you to them.

For professional advise on all aspects of buying or selling real estate, please contact me at-786-287-9272 -email:Richard@RichardRecuset.com

Richard Recuset-Multi-Million Dollar Producer-The Recuset Group

It's Official

My farewell from wordpress.

After much thought and introspection I’ve decided to move to a new location. Reason being, for me, blogspot seems to be a lot more user friendly than wordpress and typepad. Even-though wordpress seems to have a lot more tools and resources, as well as typepad, I’ve also found it very cumbersome to maneuver.

I sell real estate and that’s where most of my time is allocated. I ‘m not a programmer and have no desire to go through an HTML learning curve. After I spend some more time bloging and learn more about bloging I will then decide what direction to take this endeavor. I don’t see how you can successfully sell real estate and blog, blog, blog. This could be addictive so that’s why I have to focus on selling-a contact sport.

I figure it’s not the bells and whistles (widgets) that makes for a good blog but the content. Content is key. And that will be my focus. A blog that will be informative but entertaining enough that would keep readers reading.

Our goal is to create a community where the best of the best can share ideas in an exciting, fun environment. We will post all comments that support this goal. If you are looking for a venue to be negative, it will not appear in this blog.

So join us on this fun journey by clicking on any of the topics. Visit us daily since there will be new posts at least five days a week with the exception of holidays. If you’re ready to travel in luxury, or just surf on the net, join us for a visit: Coral Gables Real Estate.

For professional advise on all aspects of buying or selling real estate, please contact me at-786-287-9272 -email:Richard@RichardRecuset.com

Richard Recuset-The Recuset Group-Multi-Million Dollar Producer

New Office Building

A new Class A office building is to be built in Coral Gables before the end of 2009. Principal Henry Pino for Strategic Properties Group plans to build Andalusia Corporate Plaza, a 17-story, 170,000-square-foot office tower, at 2263 Douglas Road, at the corner of Andalusia Avenue. Officially, that's in Miami, a technicality that allows the group to bypass the height restrictions imposed by the City of Coral Gables.

The site is "about 50 yards from Miracle Mile," Mr. Pino said. Site plans include 500 parking spaces. Rent per square foot would be in the range of $30-$32 triple net. Coral Gables is one of the tightest markets in South Florida. There is very little contiguous space available — 2525 Ponce de Leon, the most recent to be built, has less than 7,000 square feet. This was project was originally slated for condos, but market conditions favor for-lease space. A sign of the times.


Richard Recuset - Multi-Million Dollar Producer-The Recuset Group - 786-287-9272 - email:Richard@RichardRecuset.com

Gables Market Numbers

From 10/05 - 12/06

BLUE=For SALE RED=SOLD

In the $750,000 + price range (about 95% of the Coral Gables market), there sits an average of about 300 homes (since April of 2006) on the market at this time, and only about 20 homes a month on average are selling. This is a staggering number!

Roughly 93% of homes on the market are not selling, or at least not selling any time soon. And with all the condo's being built or coming on line this year and the next, it'll be interesting to see how it all develops. Stay tuned!

Really, all this means is that if you are seriuos about selling your home, it has to be agressively advertised (an ad in the paper and a yard sign won't cut it), and above all, it has to be priced right.

Stay tuned for more, I'll be breaking the numbers down into different segments.


Richard Recuset - Multi-Million Dollar Producer-The Recuset Group - 786-287-9272 - email:Richard@RichardRecuset.com

800 Douglas Entrance

The 800 Douglas Entrance building. First building was built in 1986. 270,200 sqft lot. Owned by; COMPANY HCI OF COLONNADE DOUGLAS TRUSTROCKEFELLER / PZ, FIRST OCITY NEW YORK ZIP CD 10020.

Douglas Entrance is recognized as the premier office complex in Coral Gables. It has enticed executive tenants with a distinctive blend of Class A office space and modern amenities in a landmark, old-world setting. The complex incorporates an original gateway built in 1927 with new, architecturally compatible office buildings. La Puerta Del Sol is listed on the National Register of Historic Places and marks the northeast entrance to Coral Gables. It features a 90-foot bell tower and a 40-foot arch that spans the roadway. Situated at the intersection of Douglas Road (S.W. 37th Avenue) and S.W. 8th Street, Douglas Entrance is a 5-building, 470,000 square foot complex discreetly nestled on eight landscaped acres with a central plaza, providing unparalleled ambiance as the “crown jewel” of office locations. It is the corporate address of choice to more than 25 percent of the 20 largest corporations in Coral Gables. Douglas Entrance is a name and location that is well known in Miami. Modern and classic architecture blend perfectly to create a world-class corporate environment. A fountain, designed in Barcelona, Spain, features water and lights that are coordinated with classical music. The Grand Ballroom provides corporate tenants with an unforgettable meeting room and is one of the area’s most popular locations for wedding receptions. Douglas Entrance is located in close proximity to South Florida’s most exclusive residential neighborhoods.

Property Profile: North Tower – Net Rentable Square Footage: 143,000, Number of Stories: 12 floors each averaging 12,500 square feet, Finishes: Marble and brass lobby. Property Address: 800 Douglas Road, Coral Gables, Florida 33134.The Executive Tower – Net Rentable Square Footage: 65,000, Number of Stories: 7 floors each averaging 9,369 square feet, The Executive Tower combines with the North Tower to create a single floor of up to 21,500 square feet. Property Address: 804 Douglas Road, Coral Gables, Florida 33134.South Tower – Net Rentable Square Footage: 145,000, Number of Stories: 12 floors with an average floor size of 12,500 square feet, Finishes: Marble and brass lobby. Property Address: 806 Douglas Road, Coral Gables, Florida 33134. La Puerta Del Sol – Net Rentable Square Footage: 53,000, the recently renovated building offers two wings of office and retail space. The building includes a grand ballroom, a meeting room with audio-visual capabilities and exquisite stone architectural details throughout. Property Address: 800 Douglas Road, Coral Gables, Florida 33134.The Annex Building – Net Rentable Square Footage: 25,000. The entire ground floor faces onto S.W. 8th Street. Property Address: 3770 S.W. 8th Street, Coral Gables, Florida 33134.Parking: Covered and surface parking; 3/1,000 parking ratio.Amenities: Conveniently located minutes from Miami International Airport, Close to all major thoroughfares, within minutes of Miami’s central business district, luxury hotels, fine restaurants and shopping, grand ballroom, conference facilities with audiovisual capabilities for corporate events, on-site restaurants, auto detailing, 24-hour security guard service, electronic card key access system, on-site Owner and Management, state-of-the-art infrastructure, ATM.

Richard Recuset - Multi-Million Dollar Producer-The Recuset Group - 786-287-9272 - email:Richard@RichardRecuset.com

Real Estate Investing

Here are some tips to avoid a possible financial disaster.

Real Estate Cycles-Is the constant. Those who get in on the upswing think it’s for ever. Depending where you invest, appreciation can level off or go negative. In the long run, real estate generally appreciates, but sometimes you need to hang in during the down times. For most of the country, the good times are over.

Patience is a must-When real estate takes a downturn, as we’re seeing in most areas of the country, the number of home sales decline while the time a home is in the market increases. What doesn’t happen right away is a decline in price. In fact, in certain markets (Coral Gables) prices continue to rise. There is a lag between the beginning of a downturn and when prices start to give way. The lag can be between 6-12 months, so hang in there, it will be a buyers market-it is a buyers market, once again.

Research- Take a close look at the competition. How is the rental market? Your tenants rent has to cover your mortgage, plus maintenance and additional costs.
Debt- Keep debt away, especially during a market downturn. A shift in the market can drown you. Sometimes, it’s just better to cut your losses.

Tenants- Hardly ever will take care of your property as if it was your own. Always have a contract with provisions to cover damages.

To this end, contact me at 786-287-9272 or richard@recuset.com for all of your real estate needs!