Real Estate: Price, Quality, Location - Pick Any Two

Buying a home is a life changing decision. Wouldn't it be great if there was someone to advise you on the tax implications of living in your new abode? This topic is usually avoided by the buyer who is usually more concerned with other aspects of home buying. Location, schools, purchase price, proximity to commercial areas, neighborhood ambience while property taxes, insurance and Homeowners Association (HOA) fees, not so much.

The city of Weston is an example of an upper class market with ever increasing property values and property taxes to boot. This choice city for many locals and foreigners alike has become Broward County's version of Miami Dade's city of Doral. Weston has lately been advertised as a "hot" real estate market in the news. It's truly a very nice city to live in and pleasant to visit but buyer be wary: all that shines may not be gold.

The problem with running to purchase a house in Weston and other cities like it are the high cost that come with living in choice locations. A "hot" real estate market can only mean higher prices and with it higher property taxes.  They go hand in hand and while it's a lucrative phenomenon for realtors and local government coffers, the buyers will be left with remorse once the tax bill shows up in their mailbox. 

A homebuyer in Weston will pay significantly more for a house than an equivalent house in Homestead. Weston's  aspirational market where homebuyers feel "they have arrived" is perhaps why so many are ready to pay so much more. 

Homestead is more of a value market. First time buyers, the middle class, and retirees who can afford to live in the city for a very long time without property taxes skyrocketing year to year.  The causal relationship between property values and property taxes is a product of our tax system as is the property value with homeowners insurance, both of which should be emphasized more often during home purchases.  Unfortunately the information is not appealing to the festive mood of home buying and counterintuitive to selling by the real estate agents. Realtors will say: Location, Location, Location. How about also saying: Taxes, Taxes, Taxes.

Reference Link:

http://www.getrichslowly.org/blog/2011/02/24/setting-your-homebuying-priorities-price-quality-location-pick-any-two/

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Redland Fruit & Spice Park Festival

IF YOU GO 

What: Redland Summer Fruit Festival
When:  15 & 16 June 2013
Where: Redland Fruit and Spice Park, 24801 SW 187th Av
When: 10 a.m. to 5 p.m. Saturday and Sunday
Admission: $8; children 11 and under enter free
For more information: www.fruitandspicepark.org.

Fruit festival offers sweet and juicy fun in South Dade - Homestead / South Dade - MiamiHerald.com

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Closing Okey Dokey Supermarket in Homestead

After only one year in operation, the Okey-Dokey Grocery, a Russian-backed retail venture that envisioned opening as many as 400 small discount grocery stores around Florida, has closed or will close all of its stores, reported Supermarket News (SN).  This includes the Homestead store located 28600 SW 137th Ave at Biscayne Plaza next to the Home Depot.  

The South Florida market is dominated by Publix Super Markets and new ventures like Okey Dokey cannot compete effectively.  Additional competition is coming to the area as Walmart will build a Supercenter soon on the southeast corner of Biscayne Dr (SW 288th ST) and Speedway Blvd (SW 137th Ave).

Reference Link:

Supermarket News

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Less Money, More Problems: Crime and Income Disparity in Greater Homestead

According to US News and World Reports using 2010  figures from the Department of Justice, the less you have, the more you have to lose, apparently. Looking at the correlation between property crime and household income levels, the DOJ found that those with a household income of less than $7,500 were subject to the highest rate of property crime--200 per 1,000 households. Households earning $50,000 or more were victims of far fewer incidents of property crime--less than 140 per 1,000 households. See the graphic to the left to get a better sense of the data.

HIH used ZipAtlas to bring below poverty level numbers into perspective for the Greater Homestead zip codes. One can quickly discern the more affluent areas in blue from the less affluent areas in red and everything in between.  This Google Map with poverty data overlay reflects zip code 33031, Redland and Redland Edge areas as having the least household poverty at 4.79% followed closely by zip code 33035, Keys Gate at 5.23%.  Conversely, Florida City in red has 34.54% of households below the poverty level. 
According to the Census Bureau Quick Facts the City of Homestead has a median income of $38,724 below Miami-Dade county average of $43,957 and well below the Florida average of $47,827.  The map reflects an obvious disparity between haves and have nots with no meaningful geographic boundary with the exception of the Florida Turnpike. The highway by itself is not a significant deterrence as well as the gates for the communities limiting access to residents and authorized visitors. The contrast in income may be indicative of why sporadic crime waves occur in Keys Gate as recently experienced in North Gate.  It appears Keys Gate is a relatively more affluent enclave surrounded by significant poverty and nothing short of more community vigilance, activation of the AT&T Protection One alarm system by residents and increased police patrols is going to work to minimize property crime in the area.  

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NIMBY: Kendall, Pinecrest and South Miami residents oppose giant FPL power lines, too!

The Not-in-My-Backyard (NIMBY) folks are out in full force. First Pinecrest and South Miami didn't want new power lines on US1 (South Dixie Highway) through their communities on their way to the Downtown Miami substation.  Unsightly and a health hazard they call them.  Now Kendall doesn't want them either and with good reason.  Kendall was never a consideration until Pinecrest and South Miami raised a stink.  It's worth noting that the two former communities harbor some of the most well connected and wealthy individuals in the county, so their voices will be heard.  Kendall on the other hand, not so much.

However,  they can agree on one thing:  Florida Power & Light (FPL) should burry the lines. Unfortunately, these communities don't want to pay for this cost prohibitive alternative.  It's great that the citizens aired their grievances and suggestions to FPL, but they should've taken a calculator and a well sharpened pencil so they can perform basic arithmetic.  Spare the modern gadgetry for now the math skills sink in better when doing it the old fashioned way.

One thing is for certain these communities appear adverse to a compromise with themselves let alone with FPL.  The Kendall leaders are pushing FPL for the power lines to go East while Pinecrest and South Miami leaders are lobbying for power lines to go further West.

For us in Homestead, home of the Turkey Point Nuclear Power Plant and the Homestead Energy Services (HES), we're used to having power lines criss-cross our back yards. There are several substations within the city including interconnection sites between the companies. Homestead is unique in South Florida in that it has its own electric company whose service boundaries are not an exact overlay of city limits.  It's rather profitable as we have residents from outside the city pay HES versus FPL. This in effect helps keep property taxes down as the city funnels profits into the the general fund, but that's a story for another time.

The power lines in question are the same power lines that provide our neighbors to the north with the power they need to run their homes and their fully connected lives.  FPL doesn't have to worry about Homestead residents though, we will allow FPL to install their power lines with little fanfare since the route taken is mostly through the woods, marsh, and easements through a golf course already utilized by FPL. The established routes cross the Keys Gate Golf  course heading West before making a sharp turn North through the Everglades on their way to the Pensuco substation. Homestead surely won't be asking for the lines to be buried either unlike the other communities.  We're adamant about keeping electric bills within reason while avoiding unnecessary surcharges.  The choice will be made soon and we will keep you informed as this project progresses.

Kendall residents oppose giant FPL power lines - Kendall - MiamiHerald.com

Pinecrest mayor says state senator backs FPL against his constituents - Political Currents - MiamiHerald.com

http://www.fpl.com/environment/lines/tp.shtml

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NRC holding Turkey Point safety meeting at Keys Gate Golf Club

The Nuclear Regulatory Commission (NRC) will hold a Question & Answer (Q&A) session at the Keys Gate Golf Club,  2300 Palm Dr 1:00PM Thursday, 05/30/13 Homestead, FL.  This public meeting provides the public an opportunity to discuss their concerns with the operators and regulators of Florida Power & Light's Turkey Point Facility.

Reference Link
http://www.miamiherald.com/2013/05/29/3422650/nrc-to-hold-meeting-on-turkey.html

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Effect on Homestead? - South Florida Case-Shiller index Property Valuesup 11%

Don't get too overly excited. The index is a reflection of the Miami-Fort Lauderdale Metro area.  While it signifies a positive trend it doesn't mean Homestead has experienced a significant rate of growth considering various factors affecting home valuations in the local area. 

First our home prices hit rock bottom and then started digging, so a small increase in valuation reflects a higher percentage.  However, In real dollars its meaningless since most probably the house is still under water, one is still drowning in debt, just not as much.  

Second, our location, being 30+ miles from major work centers in the county, places us at a disadvantage due to high transportation costs.  Public transport is inefficient and the Turnpike is expensive on its own never mind fuel. While Homestead has some jobs they tend to be lower wage service sector jobs.  This leaves a significant many to head north every morning to work and south in the afternoon.  Not efficient by any means so costs rise and our city's value proposition  diminishes.

So lets be optimistic while keeping our expectations realistic to avoid financial exuberance that's unsustainable in the long run for our families and community.

Zillow Market Guide ExampleZillow predicts Homestead home values will increase 2.2% next year, compared to a 4.2% rise for Miami-Fort Lauderdale Metro as a whole. Among Homestead homes, homes in Keys Gate are approximately valued 70% more than the midpoint (median) home, and are valued about 19% more per square foot. 
Reference LinkCase-Shiller: Property values up 11 percent in South Florida - Business - MiamiHerald.com

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South Dade Community Job Fair @ MDC Homestead Campus

Miami Dade College (MDC) Homestead Campus is partnering with the Miami-Dade County Commissioner and MDC alumna Lynda Bell to host the First Annual South Dade Community Job Fair – complete with professional marketability workshops – at the campus on Wednesday, June 5, 2013. The job fair will be held from 10 a.m. to 1 p.m.in buildings D and G. It is free and open to the public.

The South Dade Community Job Fair, spearheaded by Commissioner Bell, is an opportunity to provide residents and students with access to employers in our area. It also allows companies to meet potential workforce talent for current and future positions.

 “This first community job fair is so important to the South Dade area. It will help businesses in our community and assist prospective applicants in making contact with potential employers,” said Dr. Jeanne Jacobs, MDC Homestead Campus president.

 “In this economic downturn, I am delighted to help bring employers eager to meet with prospective employees, as well as employment experts with the purpose of sharpening the professional skills of future job applicants and students alike,” said Commissioner Bell.

 Featured workshops include:

·        Renovate My Resume

·        The Ultimate Interview Review

·        Attire to Admire

South Dade Community Job Fair

• WHEN: Wednesday, Jun. 5, 10:00 AM - 1:00 PM
• WHERE: MDC Homestead Campus (Buildings D and G) 500 College Terrace Homestead, FL 33030

For more information, call Lavinia Freeman at 305-237-5147, lfreeman@mdc.edu, or 
Charlene Collazo in the Office of Commissioner Lynda Bell 
305-378-667, collazo@miamidade.gov.

Juan Mendieta, 305-237-7611, jmendiet@mdc.edu
MDC communications director Tere Estorino, 305-237-3949, testorin@mdc.edu
MDC media relations director Kai Hill, 305-237-3359, khill1@mdc.edu
media specialist Sue Arrowsmith, 305-237-3710, sue.arrowsmith@mdc.edu
media specialist Roxana Romero, 305-237-3366, rromero3@mdc.edu
media specialist Alejandro Rios, 305-237-7482, arios1@mdc.edu

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Miami-Dade County to UMSA: Incorporation or Annexation

With the election of State Representative Juan C. Zapata to the Miami-Dade Board of County Commissioners (BCC) there will be a new drive to incorporate new cities and have existing cities annex areas adjacent to them.  Commissioner Zapata believes State Senators and Representatives can better represent municipalities directly versus going through county government.  Another reason:  Miami-Dade is in the process of spinning off the Unincorporated Municipal Services Area (UMSA).  The county will then be left to run the Airport, Seaport, County Fire and Police Departments, Water and Sewer Department just to name a few.

South Dade will  not be spared hence why the Homestead City Council held a Workshop to discuss the feasibility of annexing surrounding areas of UMSA, specifically Reland Edge and Leisure City. These areas have few options due to a limited tax base making incorporation a challenge. Even the tax base of Redland Edge and Leisure City combined isn't sufficient to support incorporation so that leaves the only viable option:  Annexation. In the near future these areas will get absorbed by newly created cities or annexed by Homestead because the status quo is unsustainable. The county has determined that it's simply too expensive to continue providing municipal services to these areas. With a $50M deficit this year alone the county will be putting the incorporation and annexation efforts in overdrive.  So unless Redland and Princeton incorporate soon and are willing to respectively accept Redland Edge and Leisure City, these areas may not have any other alternative than to allow annexation by the City of Homestead. The residents of these areas can choose one path or the other but they may not stay in UMSA forever.

Reference Links:

Miami-Dade lifts ban on new cities
http://miami.cbslocal.com/2012/04/03/miami-dade-commission-to-consider-lifting-ban-on-new-cities/

A case for incorporation

http://www.miamiherald.com/2012/06/18/2851787/the-case-for-incorporation-in.html

Commissioner Jean Monestime supports increasing property taxes for UMSA
http://www.miamiherald.com/2012/09/06/2988431/jean-monestime-proposed-county.html

Commissioner Juan Zapata supports incorporation of new cities (2 Links)

http://www.miamiherald.com/2013/04/23/3360701/task-force-considers-creating.html

http://miamiherald.typepad.com/nakedpolitics/2013/04/group-tackles-creation-of-new-miami-dade-cities.html

Commissioner Juan Zapata supports creating new city:  West Kendall
http://www.bizjournals.com/southflorida/blog/morning-edition/2013/05/could-there-soon-be-a-city-of-west.html

Miami-Dade Current Annexation Proposals

Miami-Dade County - Management and Budget - Annexations

The Politics of Municipal Incorporation in South Florida
http://www.law.fsu.edu/journals/landuse/vol122/lazega.pdf

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Miami Herald Letters: South Dade (Redland Edge) Neighbors don’t want to join Homestead

Some Redland Edge residents don't want the City of Homestead to consider annexing their area.  On May 7th about 80 to 100 people showed up to an Annexation Workshop held by the City Council.  The unexpected visitors were adamant about having their concerns heard by the Workshop participants, but the rules disallowed it.    The visitors eventually left frustrated and disappointed but they turned to the Miami Herald to voice their side of the story.  Below is the link to letters submitted to the newspaper.

Letters: Neighbors don’t want to join Homestead - Homestead / South Dade - MiamiHerald.com

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Line of Demarcation: Homestead considers annexing nearby lands in South Dade

The line of Demarcation is Biscayne Drive otherwise known as SW 288th ST .  All properties south up to the Florida City Limits are being considered for annexation by the City of Homestead.  Communities affected:  Redland Edge, Leisure City, and Homestead Air Force Base area properties south of 288th ST up to the coast.

The City is of Homestead is wise in performing an annexation feasibility study for the areas described above.  A study does not mean it's a done deal.  On the contrary, the study will allow for a facts based analysis to determine if the annexation of these areas is of mutual benefit to both parties. Without data all we have is conjecture and diatribe.  The citizens of these areas are in a great position to benefit from this study in that it will provide them with valuable information regarding their properties and the immediate surroundings.  If in fact the areas are beneficial to Homestead, they may be beneficial to other cities for annexation purposes.

The move to full incorporation is underway in all of Miami-Dade county and even more so as the budget for the Unincorporated Municipal Services Area (UMSA) shrinks.  The shrinking is due in part to the many years of county government subsidizing the UMSA budget to low ball the millage rate thereby discouraging incorporation and annexation.  However, it has come to an end due to the Great Recession of 2007-2009 and ongoing economic malaise in the county.  No longer can the county afford the level of services provided to UMSA at bargain millage rates.  With the upcoming county budget shortfall of $50M, the problem only becomes more acute and UMSA's budget will suffer as a result.

The City of Homestead has a lot to offer.  Homestead has its own Police Department with better response rates than Miami-Dade County Cutler Ridge Police Sub-Station.  A City Council in near proximity whereby residents can air their grievances as shown during the Annexation Workshop.  Local zoning and planing that is in-tune with the rural makeup of southwestern Miami-Dade and its growing commercial and residential areas on the east side. Local utilities department providing responsive and courteous service at competitive rates.  These are only some of the benefits of living in Homestead proper and it behooves the areas considered for annexation to honestly evaluate and compare them with the services provided by UMSA or other cities that may come along desiring to annex their areas.

A meeting to further discuss the Annexation Study will be held at the William F. "Bill" Dickinson Community Center located at 1601 N. Krome Avenue on Wednesday, May 15th at 6:00PM proceeding a City Council meeting, which commences at 5:00PM.


Reference Miami Herald Article Below:
Homestead considers annexing nearby lands - Homestead / South Dade - MiamiHerald.com
Reference South Dade News Leader Article Below:
http://southdadenewsleader.com/issue/south-dade-news-leader/article/homestead-to-discuss-annexation-study-wednesday

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Homestead looking to evict La Ley from baseball complex

See Miami Herald Article for Story in the link below:

Homestead looking to evict La Ley from baseball complex - Homestead / South Dade - MiamiHerald.com

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Homestead and Florida City property owners cautiously support widening Lucy Street

Excerpt from Miami Herald.

A plan to widen the east-west dividing street between Florida City and Homestead would require 10 feet of property from businesses and residents on either side of the thoroughfare, according to an engineer from Miami-Dade Public Works.

A small group of people from both communities gathered last Tuesday at Homestead’s Laura Saunders Elementary School to view the county’s plans for widening Lucy Street from 187th Street to US 1 – a distance of a little over a mile.

Read More on link below:

Read more here: http://www.miamiherald.com/2013/05/05/3379154/south-miami-dade-property-owners.html#storylink=cpy

South Miami-Dade property owners cautiously support widening Lucy Street - Homestead / South Dade - MiamiHerald.com

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MDFR Ladder #65 at Work by Homestead High School.

Miami Dade Fire Rescue Ladder #65 by Venetia Groves pull a woman out a sinking car.   This happened at the intersection of SW 167th Ave and Palm Drive by Homestead Senior High School.

Thank you MDFR #65 for the good works you perform for our community,  Bravo!

Note:  The Miami Herald article below has the wrong address as Palm Ave and 167th Street doesn't exist in Homestead or anywhere else in Miami-Dade County.

http://www.miamiherald.com/2013/03/18/3293614/firefighters-save-woman-in-sinking.html

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Genghis Grill Homestead Now Open

http://www.genghisgrill.com/

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City Shut Out of Election Wait Time Investigation

By Christina Veiga

cveiga@MiamiHerald.com

Homestead wants to be part of an advisory group looking into why voting took so long in Miami-Dade County on Election Day — but the city won’t get a seat at the table.

Voters in Homestead waited more than four hours in some cases just to cast ballots during early and regular voting for the November general election. Many others around the county faced similar, monumental wait times.

So Miami-Dade Mayor Carlos Gimenez put together an advisory group to look into what went wrong at the polls, and how to fix it.

Homestead City Clerk Elizabeth Sewell sent the county a letter on Nov. 19 requesting that she or the city manager be part of the group. But when Gimenez announced on Nov. 20 who would be on the task force, neither Homestead’s city clerk nor the city manager were on the list.

County spokesman Fernando Figueredo said the group members were chosen to give “wide representation” of county voters. The advisory group meets for the first time this week.

“The mayor wanted to go ahead and move forward with this group,” Figueredo said. “Now remember, this is the first meeting, so they might consider adding more folks as they move forward.”

Said Vice Mayor Jon Burgess: “It would be great if we had someone there...but we can’t, and now we need to look at what our next best avenue is.”

That next best avenue, Burgess said, may lead Homestead to the county Board of Commissioners.
Commissioner Lynda Bell was named part of the task force, and she is a former mayor of the city whose current district includes Homestead. She still lives in the city.

Representatives in commissioner Bell’s office said they offered to the county several names of volunteers who had asked to be part of the task force. Of those volunteers, one was named to the group: Alice Ancona of the Greater Miami Chamber of Commerce.

Homestead city officials did not make a request through Bell’s office to be part of the advisory committee, according to the commissioner’s chief of staff.

Read more here: http://www.miamiherald.com/2012/11/27/3115831/homestead-officials-shut-out-of.html#storylink=cpy

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MD Holdings II aka Michael Latterner-Wayne Rosen Loan Could Have "Material Adverse Effect" on U.S. Century Bank Merger Agreement

MD Holdings II

LATTERNER, MICHAEL 13 S.W. 7TH STREET MIAMI FL 33130 US

ROSEN, WAYNE 277 GALEON COURT CORAL GABLES FL 33143 US

South Florida Business Journal by Brian Bandell, Senior Reporter

Date: Monday, November 12, 2012
U.S. Century Bank’s merger agreement specifies two large land loans that could have a “material adverse effect” on the bank large enough to impact its pending acquisition by C1 Bank.

Avoiding severe losses on those loans in Homestead and rural St. Lucie County – two of the markets hardest hit by the real estate downturn – aren’t the only obstacles for U.S. Century Bank to completing this merger, but they illustrate the lending strategy that landed the bank in the “undercapitalized” condition it’s in today.
Both loans were already on the bank’s books in August 2009 when U.S. Department of the Treasury deemed the bank worthy of the largest Troubled Asset Relief Program (TARP) investment of any Florida bank.

U.S. Century Bank and St. Petersburg-based C1 Bank asked Treasury to give them a 90 percent discount to redeem the $50.2 million in TARP funds from taxpayers. Treasury rejected that offer and the banks countered by offering another $1.3 million to bring the TARP discount to 87 percent. It’s not clear whether Treasury will accept the new offer.

Yet, if U.S. Century Bank fails, taxpayer would see no return on their TARP investment. Loan charge offs, especially from volatile land loans, could hurt the bank’s prospects for surviving to close the deal and salvaging something for taxpayers and its shareholders.

The “material adverse event” section of U.S. Century Bank’s merger agreement and proxy statement, both obtained by the Business Journal from confidential sources describe how the bank could suffer a serious blow if it was required to take another $15 million in loan loss reserves. Only two borrowers are mentioned by name: Indian Sunburst Associates and MD Holdings II.

The larger loan is to MD Holdings II on 76.2 acres of farmland at 11760 S.W. 248^th Street in Homestead. 

The borrower, managed by Michael Latterner, obtained a $43.5 million mortgage from U.S. Century Bank in 2007, although the loan was modified at $25.6 million in January 2011. While there is no foreclosure action on file for that property, the housing market in Homestead has been slower to return than in urban parts of the county.

The site obtained approval in 2009 for 581 market-rate housing units and 83 workforce housing units.

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Turkey Point Layoffs

 

 

 

 

South Florida Business Journal

Date: Wednesday, November 14, 2012, 1:10pm EST
Bechtel Power Corp. has warned the state of Florida of 277 possible layoffs at Florida Power & Light’s Turkey Point Nuclear Plant in Florida City.

The Frederick, Md.-based company filed a Worker Adjustment & Retraining Notification notice with the state on Tuesday.

The Bechtel employees have been working on contracts with FPL to expand two nuclear units at the Turkey Point Nuclear Plant. One of the units is completed.

The projects have employed about 5,000 workers over the past several years.
FPL spokesman Peter Robbins said the remaining work is on schedule and due to be completed in spring of 2013.

All work by Bechtel is expected to be completed by May 26, according to the WARN.

“Construction project work by its very nature has a defined completion date," Bechtel Manager of Operations Brian Reilly said in a statement. "As a project nears completion, the skill sets of specific people are no longer required. We provide our people with assistance with this transition and, quite often, we are able to find positions for people on other Bechtel projects.”

The 277 employees are to be laid off between Jan. 6 and May 26. The workers include 77 field engineers, 49 superintendents, 44 design engineers and 22 welding field engineers.

http://www.bizjournals.com/southflorida/news/2012/11/14/bechtel-power-corp-warns-of-277.html

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Wings Over Homestead Air Show

Wings Over Homestead Air Reserve Base

Homestead Air Reserve Base
29050 Coral Sea Blvd
Homestead , FL 33039
Dates: November 03, 2012 - November 04, 2012
Hours: 8:30am - 5:00pm
Airshow Website

Performers:


Parking: Parking on base, which will include handicapped parking, will be available and is limited. Please remember to carpool if possible. RVs and campers will not be allowed on base during the air show.

 http://www.wingsoverhomestead.com/

 http://www.wingsoverhomestead.com/uploads/file/Homestead_Promo.pdf

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NBC 6 Reports Bomb Threat At Homestead Hospital

http://www.nbcmiami.com/news/local/Authorities-Working-Active-Bomb-Threat-at-Baptist-Hospital-in-Homestead-Cops-176424741.html


 

Authorities were working an active bomb threat at Homestead Hospital Tuesday, the Homestead Police Department told NBC 6 South Florida.

Det. Morales said officers, trying to confirm the validity of the threat, were working with Miami-Dade Fire officials and hospital staff.

Christina Armand, of Miami-Dade Fire, confirmed the team was working with police at Homestead Hospital, which is located at 975 Baptist Way.

There were no evacuations as of 10:53 a.m.

Stay with NBC 6 South Florida for updates.

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