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

Latin American Real Estate Investors Assoc.

The Latin American Real Estate Investor's Association will hold its next meeting April 10 at 6:30 p.m. at the Biltmore Hotel, 1200 Anastasia Ave. in Coral Gables. The speaker will be Robert Shemin. The cost is $25 per person. Call 786-428-0500 for information.


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

Latin Market Trends

LATINO POPULATION - GROWING FAST!
GROWTH OF THE MARKET - OVERVIEW

The Hispanic population is growing dramatically and making its own market. As of 2006, there
are over 42 million Hispanics in the United States. More importantly, the Hispanic population is
considerably younger than other ethnic groups in the United States, so the Latino boom has just
started and will continue to be a growing market. This is no passing fad!.

THE STATISTICS

Latinos Are Younger
~ Median age for this market group is almost 10 years younger than the overall US population.
~ Their disposable income is growing by about 9% per year.
~ Latino Middle Class will be created by lowering the barriers to home ownership.
~ Latino fi rst time homebuyers are 5 years younger than non-Latino fi rst time homebuyers.
Power of Generation Ñ
~ In USA 1 out of 5 births are to Hispanic women!
~ In Los Angeles 60% of births are Hispanic!
~ In El Paso 85% of births are Hispanic!
~ In USA 6 out of 10 children under the age of 5 are Hispanic!
~ Hispanic Teen population in 2005 grew by 30%, Non-Hispanic Teen population grew by only 8%!
~ The trends are very clear. Isn’t it time to focus?


THE LATINO MARKET - WHY ITS HOT

Combine a rapidly growing population, outrageous increases in buying power and household income, an emerging middle class, and a desire for more home ownership and you have a very hot Hispanic Real Estate Market.

~ Hispanic Wealth is Growing. According to the Selig Center for Economic Growth at the
University of Georgia (the “Selig Center”), 2007 will mark the fi rst time that Hispanics will
control more disposable personal income than any other minority group in the US.

~ Hispanic Buying Power. The Selig Center estimates the 2006 Hispanic buying power to be
$798 Billion. Hispanic buying power is expected to grow 6% in 2007 to $863.1 Billion. It is
anticipated that by 2011 Hispanic buying power will increase to $1.2 Trillion. From 1990 to
2011, Hispanic buying power will have increased at a growth rate of 450

~ Hispanic Income is Increasing. In 2002, the median household income of Hispanics was
$33,601. By 2005, the median household income of Hispanics increased to $35,967. That’s
a 7% increase and the trend is anticipated to continue. See Synovate, 2004 U.S. Hispanic
Market Report and US Census Release 8/29/06.

~ Emerging Middle Class. The Tomas Rivera Policy Institute demonstrated that “while the
number of Hispanic households doubled between 1979 and 1998, the number of those in the
middle class grew by earl 80% to almost 2.7 million.” See Chiqui Cartagena, Latino Boom!,
pp 22-23. Approximately 36.3% of Hispanic households are considered middle class (i.e.,
annual income of $40,000+) and have a household net worth of approximately $15,000 to $239,000.

~ Home Ownership. According to the Pew Hispanic Center, 46.3% of Hispanics households
owned their homes in 2001. By 2005, that number increased to 48.5% Hispanic home
ownership is on an upswing.

~ Hispanic Population. The Selig center reports that the Hispanic population is growing at a
rate of 126.4% for the period 1990 to 2011 compared to the non-Hispanic population which
is growing at a mere 15.4% for the same period. While Hispanic home ownership increased
by 2.2% during this decade, the Hispanic population grew by an incredible 11 to 12 million
people, which makes the home ownership fi gure even more remarkable.

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

Check The Insurer!

The Florida Department of Financial Services’ (FDFS) Division of Agent and Agency Services, Bureau of Investigation, investigates property insurance violations by Florida insurance agents, as well as health, life, auto, workers’ compensation, bail bond and title insurance. “Consumers trust insurance agents to ensure they receive adequate coverage and the services they pay for,” says Florida Chief Financial Officer Alex Sink. “We will aggressively pursue any agent who takes advantage of a customer, especially as so many Floridians are struggling to keep up with rising premiums.”

Sink yesterday announced the arrest of Christopher Millsaps, 45, of Orlando, who targeted several larger commercial business clients in Orange and Seminole counties. Millsaps told them they owed additional insurance premiums and to remit the payments directly to him, though he then deposited the money into his personal account. With the assistance of Millsaps’ agency employer, the FDFS confirmed necessary coverage to all of his victims. To check on the status of an insurance agent’s license or to file a complaint against an agent, call (800) 342-2762 or log on to the FDFS Web site at www.fldfs.com.


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

Reduce Property Taxes

Want to energize the real estate market?

Help resolve the current problem with property taxes !

Log onto:

http://www.nomorepropertytax.com

(then click 'Endorse the Plan') and sign the petition to cut taxes in Florida by $5.8 billion dollars, eliminate the property taxes on homestead property and reduce the tax on non-homestead properties by 20%.

If you own property right now, you will save money. If you want to own property, the elimination of taxes on homesteads (the house you live in) would probably allow you to finally afford to buy your own place.

The average Miami-Dade county taxpayer would save $2,354 dollars, this year, on their property taxes. The average City of Miami taxpayer would save $3,515 dollars.

Once you have signed the amendment, forward this blog or the address above to your parents, your friends, and your family.


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

Expired home item

Ever wonder what the life span of your roof is, or your appliances? wonder no more.

NAHB conducted a study that tries to determine the lifespan of home components.

Read the full story:

http://www.nahb.org/generic.aspx?genericContentID=72539

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