CharlieRua November 7, 2017 Blog no responses

Did you know that upon selling your current homestead exempt home you are eligible to save money on your property taxes in your next home by PORTing over the Save Our Homes Assessment Difference?

Property owners with Homestead Exemption also receive a benefit known as the “Save Our Homes” cap. The Save Our Homes cap limits increases in the annual assessment of a home to a maximum of 3% regardless of the increase in Market Value.

Homeowners can transfer (or PORT) the difference between the assessed and market values from their previous Homestead Property (known as the Homestead Assessment difference) to another Homestead Property up to $500,000.


Moving to a more valuable home – UPSIZING
Previous Home New Home
Market Value $250,000 Market Value $400,000
Save Our Homes Assessment Difference – $100,000 P O R T – $100,000
Assessed Value $150,000 Assessed Value $300,000
Moving to a less valuable home – DOWNSIZING
Previous Home New Home
Market Value $250,000 Market Value $200,000
Save Our Homes Assessment Difference – $100,000 * P O R T – $80,000
Assessed Value $150,000 Assessed Value $120,000

*Step 1: Previous Save Our Homes Difference DIVIDED by Previous Market
100,000/250,000 = Cap Ratio 0.4

*Step 2: Cap Ratio MULTIPLIED by New Market Value
0.4  x  200,000 = PORT 80,000

Portability benefits may be reduced if the benefit is split among multiple homestead owners and is limited to $500,000.

You must have homestead exemption on your new property within two (2) years of your last homestead exemption AND all owners of a jointly owned previous homestead must abandon that homestead in order to PORT your Homestead Assessment Difference. (Ref. section 193.155, Florida Statutes).

Husband and wife abandoning jointly titled property may designate shares of the homestead assessment difference by filing a Designation of Ownership Shares Of Abandoned Homestead form (DR-501TS). To qualify to make such a designation, the husband and wife must be married on the date that the jointly owned property is abandoned.

All Property Tax Exemption Applications are due March 1st.

Learn more at the Miami-Dade’s Property Appraisers website by clicking here.

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CharlieRua September 25, 2017 Blog no responses
In the wake of Hurricane Irma, we at Rua Realty wanted to share the importance of native plants. Much of South Florida suffered extensive tree loss, most were to non-natives trees/plants, which in turn caused damage to our infrastructure and power lines. We recommend the following links in order to learn more on how we can all further enhance our neighborhoods:
Why Native Plants Matter – Audubon Society
Oak trees lining a Coral Gables street

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CharlieRua August 23, 2017 Blog no responses

The continued trend in the single-family real estate market in Coral Gables has remained consistent for some time. The amount of active and new listings continues to decrease while demand and sales remain steady. July 2017 did see a decrease in sales but this is more than likely attributed to the typical South Florida real estate summer slowdown. These trends show that the Coral Gables real estate market is experiencing a healthy cycle and home values have continued to appreciate, though definitely not as much as 2011-2015.

Looking at the recent Coral Gables single-family sales in the month of July, the under $1 million market segment has remained very active. In this price range inventory tends to sell quicker and closer to asking price, if homes are priced correctly. Note, 919 Capri was a short sale that sold for significantly less than asking price.

If you are interested in knowing what your home is worth, reach out to one of our experienced agents at Rua Realty for a complimentary Comparative Market Analysis.

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CharlieRua August 1, 2017 Blog no responses

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NEW: Get to Know your City Series

Rua Realty will begin highlighting events throughout our community and neighborhoods.  

Kicking things off..Miami Spice! 

Miami Spice is an annual event that commences this week. It offers a great opportunity to taste some of the finer dining establishments located throughout South Florida. Some of the areas included are Coral Gables, Coconut Grove, Brickell, & Miami Beach. Restaurants provide a tasting menu for lunch & dinner (limited days, check link below). If you enjoy Brunch, Miami Spice now features brunch on weekends at some participating restaurants. 

See the list of participating restaurants below as well as articles/links highlighting some of the best deals and menus. 

Miami Spice Participating Restaurants (Greater Miami and the Beaches)

Miami Spice 2017: The Best Menus in Every Neighborhood (Miami New Times)

 Top 10 Best Bets for Miami Spice (Eater Miami)

The Best Deals at Miami Spice This Year (Thrillist)

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CharlieRua January 6, 2017 Blog no responses
 Hot Topics and Trends that will affect the 2017 South Florida Real Estate Market
A new year always brings changes to the South Florida real estate landscape.  This year is sure to be no exception.
Contributing to this is:
–       An incoming president with differing political/fiscal views from the former administration
–       The Dodd Frank repeal
–       A stronger US Dollar (less foreign investment)
–       Short supply of single-family homes
–       Saturation of the condominium market.
Increase in Interest Rates. The Federal Reserve has stated they will continue to raise interest rates. With some analysts predicting roughly 3 separate rate increases in 2017. Potentially increasing all time low-level rates from roughly mid 3% on 30-year home loans to rates closer to 5%.
Loosening of Lending Terms. Changes to Dodd-Frank could lead to ease in lending making it easier for buyer’s to obtain home financing.
Strengthening Dollar. Equating to less value for foreigners interested in investing in the S. Florida real estate market. The condominium market has already experienced this effect.
Short Supply of Single-Family Homes. Coupled with steady demand, especially in the first time buyer sector.
Decreasing Rental Rates. Condo rental prices are starting to slightly decrease after 4 years of continual appreciation.
Rising Sea Levels. Living in paradise comes with a cost. With The Earth’s average surface temperature increasing so have ocean water levels. This has a deep effect on South Florida’s real estate market.

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CharlieRua August 15, 2016 Blog no responses

Charlie Rua providing real estate guidance & knowledge on Univision
Rua Realty’s Managing Broker Appears on TV to share expertise on the South Florida Real Estate Market

Founder and managing broker, Charlie Rua, was recently interviewed on Univision to assist them in answering South Florida real estate related questions. The question was posed as to why Miami and Hialeah were cities a rental research study determined were some of the most difficult to rent for prospective tenants. The study took into account low average salaries vs the high rental asking prices.

Click here to read the El Nuevo Herald (In Spanish) article that was referenced in the news interview.


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CharlieRua March 22, 2016 Blog no responses

2121 N. Bayshore #1219, Miami

Asking $3,700/month

Stunning & Unobstructed Panoramic Views Reveal One of Miami’s Most Beautiful Views Over Biscayne Bay. Enjoy Sunrises & Sunsets From Almost Every Room In This Spacious Corner Unit Within Walking Distance to Park, Restaurants, Art & Shops. Property Was Recently Remodeled (Open Kitchen Design, New Flooring, Guest Bath & More). Washer Dryer Within Unit. Amenities: Bayfront Pool, Tennis Courts, 24 Hour Security & Gym. Two Assigned, Covered Parking Spaces. Enjoy Life in the Heart of the City. Pet friendly.


3225 Oak Avenue, Coconut Grove

Asking: $2,000/month

Wonderfully Situated 2/1 Duplex Steps From The Heart Of The Grove Restaurants & Shops. Nice Sized Rooms & Kitchen Which Include Stainless Steel Appliances. Washer/Dryer Located Within The Property. Shared Patio With 3227 Oak (Duplex Neighbor). Water, Sewer & Trash Pick Up Included. Two Parking Spaces With Room For One More. Pet Friendly. Tenant Occupied Through April 1, 2016.

  3375 Percival Street, Coconut Grove

Asking: $3,500/month

Remodeled Gated 3/2.5 Townhome in Coconut Grove. Features: New Kitchen W/ Stainless Steel Whirlpool Appliances, Marble Throughout, Closet Cabinetry, Impact Windows, ADT Pulse Alarm System, Impact Windows & Doors, High Ceilings, And Plenty of Storage Space. Garage, Two Gated Parking Spaces. Steps From Restaurants & Shops.

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CharlieRua November 12, 2013 Blog no responses

Charlie Rua & Xavier Durana in front of the 6th Hole Rua Realty Flag.
Charlie Rua & Xavier Durana in front of the 6th Hole Rua Realty Flag.
Rua Realty Sponsors the 2nd Annual Somerset Academy Gables Golf Tournament at the Biltmore Hotel in Coral Gables

Rua Realty agents participated and sponsored the second annual Tournament. Somerset Academy Coral Gables is located in the desirable Golden Triangle of Coral Gables within close proximity to the Coral Gables Library and Youth Center.

Click here to learn more about the Coral Gables (33134) real estate market.


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CharlieRua May 2, 2012 Blog no responses

By: Kenneth Harney

It’s not something that economists routinely track, but it provides a rough sense of what’s happening in local real estate markets. Call it the lowball index. A year ago, according to researchers at the National Association of Realtors, one out of 10 members surveyed in a monthly poll complained about lowball offers on houses listed for sale. In the latest survey — conducted during March among a sample of 4,500 agents and brokers across the country and not yet released — there were hardly any. Instead, the focus of volunteered comments has shifted to declining inventory levels — fewer houses available to sell — and multiple offers on well-priced listings.

A lowball offer typically involves a contract submitted to a seller where the price proposed by the purchaser is 25 percent or more below list. Lowballs increase sharply when there’s a glut of properties available, asking prices are out of sync with local economic realities, and values are depressed or uncertain. Buyers figure: Hey, why not? Maybe I’ll get lucky.

Based on the latest survey results, sort of strategy is not a winning move in many communities this spring. In fact, in local markets where inventories are tight and competition for homes rising, real estate agents say that buyers looking to steal houses by lowballing their offers are ending up at the back of the line — their contracts either rejected out of hand or countered close to the original asking price.

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CharlieRua February 9, 2012 Blog no responses


There have been some recent articles arguing the “housing bottom is nowhere in sight”. That isn’t my view.

First there are two bottoms for housing. The first is for new home sales, housing starts and residential investment. The second bottom is for prices. Sometimes these bottoms can happen years apart.

For the economy and jobs, the bottom for housing starts and new home sales is more important than the bottom for prices. However individual homeowners and potential home buyers are naturally more interested in prices. So when we discuss a “bottom” for housing, we need to be clear on what we mean.

Total Housing Starts and Single Family Housing Starts

For new home sales and housing starts, it appears the bottom is in, and I expect an increase in both starts and sales in 2012.

As the first graph shows, housing starts, both total and single family, bottomed in 2009 and have mostly moved sideways since then – with some distortions due to the ill-conceived housing tax credit.

New Home sales probably bottomed in mid-2010 and have flat lined since then.

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