President Obama Designates Coconut Grove Cottage National Historic Landmark

Marjory Stoneman Douglas

President Obama visited The Everglades this week for Earth Day bringing national attention to the impact of climate change on South Florida.  In his speech, he announced that the Coconut Grove cottage of famed conservationist Marjory Stoneman Douglas would be designated a National Historic Landmark.  Marjory Stoneman Douglas authored “The Everglades: River Of Grass” in 1937 which changed the way people viewed the Everglades. She was a relentless supporter of The Everglades and won several awards for her efforts.

Marjory Stoneman Douglas’ home is located at 3744-3754 Stewart Avenue in South Coconut Grove.  It was built in 1924 and it is where she wrote all of her major books and stories.  The house was designated historic by The City of Miami in 1995.  It is currently in the care of the Florida Park Service, and a park ranger resides at the home to help maintain the structure and property.

I think it is great that historic homes such as hers still exist in Coconut Grove and haven’t been torn down.  They are an essential part of our neighborhood’s history, character and charm.

As the #1 Top Producing Realtors in Coconut Grove for over 5 years, we know the market here inside and out.  If you are interested in buying or selling Coconut Grove real estate and would like to set up a no pressure consultation, please feel free to contact The Riley Smith Group at 305-342-1623 or send us a message here.

Written by

Great Opportunity In Coconut Grove | Townhouse For $350,000

2855 Coconut Avenue, Coconut Grove

Due to the fact that prices are rising so quickly in Coconut Grove, entry-level properties can be hard to find. We just listed a great townhouse in Center Grove located at 2855 Coconut Avenue for $350,000. This lovely gated townhouse has light filled living spaces which open to a private patio for outdoor entertaining and an expansive rooftop terrace.  This property was built in 2002, has 2 side-by-side parking spaces and is move-in ready.

2855 Coconut Avenue, Coconut Grove

Coconut Avenue, Coconut Grove

Details of 2855 Coconut Avenue:

  • 1,070 Square Feet Of Living Area
  • 2 Bedrooms, 1 Full Bath, 1 Half Bath
  • Offered at $350,000

If you would like to schedule a showing of this property, please call my office at 305-960-5318 or send us a message here.

As the #1 Top Producing Realtors in Coconut Grove for over 5 years, we know the market here inside and out.  If you are interested in buying or selling Coconut Grove real estate and would like to set up a no pressure consultation, please feel free to contact The Riley Smith Group at 305-342-1623 or send us a message here.

Written by

Coming Soon: Max Strang Designed Home In The North Grove

1720 Wakeena Drive

We just closed on our listing located at 1720 Wakeena Drive in North Coconut Grove. This was a 10,858 square foot lot which was purchased for land value at $750,000 or $69.00/sq. ft.  The new owners intend to build a spec home designed by the locally and internationally recognized firm of Max Strang Architecture.  Based in Coconut Grove, Max Strang Architecture is known for their tropical modern style homes with open living spaces and warm, natural accents.

Can’t wait to have another beautiful home to sell in Coconut Grove!

As the #1 Top Producing Realtors in Coconut Grove for over 5 years, we know the market here inside and out.  If you are interested in buying or selling Coconut Grove real estate and would like to set up a no pressure consultation, please feel free to contact The Riley Smith Group at 305-342-1623 or send us a message here.

Written by

Inventory Is Low For Homes In Coconut Grove Gated Communities

One of the first things that many buyers (especially out of town clients) tell me is that they want to buy in a Coconut Grove gated community.  They feel more comfortable knowing that they have an added level of privacy and security.  Unfortunately I have to break the news to them that with just 15 homes for sale , the inventory in our gated communities is extremely low.

It is interesting to look at the average asking prices compared to the average selling prices over the past 12 months for this segment of the market.  You can see from the chart below that the supply is out of line with demand. While the average asking price is $6,600,000, or $841.00/sq. ft., the average selling price is $4,600,000 or $629.00/sq. ft.

Coconut Grove Gated Communities Chart

Insider’s Tip! When Coconut Grove homes in gated communities hit the market at list prices of $3,000,000 and below, they tend to get snapped up quickly. We recently placed our listing located at 3530 De Garmo Lane in De Garmo Estates under contract in less than 30 days. It was listed for $2,500,000.  

Below is a list of the homes sold over the past 12 months in Coconut Grove’s Gated Communities:

  1. 3505 Main Lodge Drive (Waterfront) | Camp Biscayne | Sale Price: $11,000,000
  2. 3501 Anchorage Way (Waterfront) | The Anchorage | Sale Price: $5,460,000
  3. 3843 Little Avenue | Ye Little Wood | Sale Price: $4,225,000
  4. 3314 Devon Court | Hughes Cove | Sale Price: $3,950,000
  5. 3528 Bayshore Villas Drive | Bayshore Villas | Sale Price: $4,150,000
  6. 3600 Stewart Avenue | Entrada Estates | Sale Price: $1,890,000
  7. 3810 Wood Avenue | Ye Little Wood | Sale Price: $1,749,000

Read more about Coconut Grove Gated Communities here.

As the #1 Top Producing Realtors in Coconut Grove for over 5 years, we know the market here inside and out.  If you are interested in buying or selling Coconut Grove real estate and would like to set up a no pressure consultation, please feel free to contact The Riley Smith Group at 305-342-1623 or send us a message here.

Written by

Investor Group Purchases West Grove Corner

Although I typically only cover residential real estate news here on The Coconut, I wanted to bring to your attention  a recent commercial transaction which I believe could have a huge impact on the market in the West Grove.  The northwest corner of Grand Avenue and SW 37th Avenue has just been sold to developers for $2,000,000.

Although future plans for the site are unknown, Matt Martinez of Beacon Hill who represented the sellers says: “the highest and best use is likely mixed-use residential, lofts or condos, or office with a retail component on the ground floor.”  

I think it goes without saying that a new building there whether retail or residential would be a nice anchor for the West Grove.

Below is a short video about the site.

3701 – 3715 Grand Ave Coconut Grove, FL from Matthew Martinez on Vimeo.

As the #1 Top Producing Realtors in Coconut Grove for over 5 years, we know the market here inside and out.  If you are interested in buying or selling Coconut Grove real estate and would like to set up a no pressure consultation, please feel free to contact The Riley Smith Group at 305-342-1623 or send us a message here. 

Written by

Introducing 3639 Park Lane In Coconut Grove

3639 Park lane, Coconut Grove

I am excited to announce our newest Coconut Grove listing located at 3639 Park Lane. Situated high on a bluff, this stunning magazine quality estate offers a seamless combination of modern and classic design. With light filled living spaces and high-end finishes, the home, which was completely renovated in 2012 by HLS Interior Design, has a very fresh and elegant ambiance. Some of the special features include Wolfe/Sub-Zero appliances, Bateig Azul Limestone floors, glass stair railings and his & hers baths with Waterworks fixtures.This home is great for entertaining with an expansive outdoor terraces, pool and lushly landscaped grounds created by renowned landscape architect Fernando Wong.

3639 Park Lane, Coconut Grove

The main level of the home consists of the living room, dining room, kitchen, family room and 3 bedrooms. The upper level (3rd level) offers a 1,500 sq. ft. expansive master suite with his/hers bathrooms and outdoor terrace.  Downstairs on the ground level you will find the maids room, children’s playroom, storage and garage.

3639 Park Lane, Coconut Grove

Details of 3639 Park Lane:

  • 5 Bedrooms, 6 Full Baths, 1 Half Bath
  • 6,095 Square Feet Of Living Space
  • 11,964 Square Foot Lot
  • More Photos Here
  • Offered At: 2,880,000

As the #1 Top Producing Realtors in Coconut Grove for over 5 years, we know the market here inside and out.  If you are interested in buying or selling Coconut Grove real estate and would like to set up a no pressure consultation, please feel free to contact The Riley Smith Group at 305-342-1623 or send us a message here. 

Written by

The Key To Being A Successful Realtor

keys

I always say that one of the most important things that you can do for your career as a Realtor is to build relationships with other agents. 99% of all transactions have an agent on both sides of the deal and it helps tremendously when you can work together as a team instead of as adversaries.

Not only is it good for getting deals closed, but it can also help you find properties that you otherwise would not have access to. For example, a few months ago an agent in my office came to me and let me know about a listing she was getting on Park Avenue in the South Grove.  It wasn’t on the market yet but she wanted to know if I had anyone who would be interested. I happened to have a buyer who the property was perfect for and presented her with a full price, cash offer the next day.  Her clients were happy because the house sold quickly and at the price they wanted, and my clients were happy because we brought them an off-market listing.  It was a win-win situation for all!

I can honestly say that I have a professional and friendly relationship with just about every Realtor in Coconut Grove.  Doing so, benefits me and my clients.

Details on the sale mentioned above: 4094 Park Avenue | Land Value | 12,744 Square Foot Lot | Sale Price: $729,000 | Sold On 4/9/2015

As the #1 Top Producing Realtors in Coconut Grove for over 5 years, we know the market here inside and out.  If you are interested in buying or selling Coconut Grove real estate and would like to set up a no pressure consultation, please feel free to contact The Riley Smith Group at 305-342-1623 or send us a message here. 

Written by

Sneak Peak…New Modern Home Hitting The Market Next Week

1617 South Bayshore Drive, Coconut Grove

Our photographer captured these great shots of our new modern listing in Coconut Grove. I wanted to give my blog readers a sneak peak before it hits the market next week. This home epitomizes what South Florida living is all about with its walls of windows, natural light and beautiful outdoor entertaining areas.  Located at 1617 South Bayshore Drive, it offers 6 bedrooms, 6 baths + a bonus room which is an incredible studio/office/gallery space.  List price is $2,499,000. If you would like to be one of the first to see this property, please call me at 305-342-1623 or send me a message here.

1617 South Bayshore Drive, Coconut Grove

1617 South Bayshore Drive, Coconut Grove

As the #1 Top Producing Realtors in Coconut Grove for over 5 years, we know the market here inside and out.  If you are interested in buying or selling Coconut Grove real estate and would like to set up a no pressure consultation, please feel free to contact The Riley Smith Group at 305-342-1623 or send us a message here. 

Written by

Why I Prefer My Clients Work With A Local Lender

Successful financial plans

I always recommend that my buyers use local lenders as opposed to large national lenders when purchasing a home in Coconut Grove.  Aside from getting better rates with the local banks, these big institutions are famous for over-promising and under-delivering.  I have had countless deals with large banks who have caused a delay in closing because they were asking the client to produce documents at the last minute, or even more aggravating have barely started working on the file. Although things usually work themselves out, it can put the buyer’s deposit at risk if the bank does not fulfill their obligation.

Yesterday I received an email from a buyer’s lender (a large institution) explaining that we may want to consider getting an extension on the mortgage commitment date because of “Loan Volume Capacity” in their underwriting department. The sellers were less than thrilled and I don’t blame them. There is no reason that a bank cannot provide a loan commitment within 30 days. This is an issue I never have with local lenders. They know that their reputation is the most important thing to them and work extra hard to get the deal done in the quickest time possible.

In addition to the process running smoother and faster with local lenders, the appraisers tend to be more knowledgeable about the local market. They know the intricacies of different neighborhoods within the Grove, and provide much more accurate reports.

It really takes a village to get a deal to the closing table these days and I like to put the best team in place to make it a smooth and stress-free process.

As the #1 Top Producing Realtors in Coconut Grove for over 5 years, we know the market here inside and out.  If you are interested in buying or selling Coconut Grove real estate and would like to set up a no pressure consultation, please feel free to contact The Riley Smith Group at 305-342-1623 or send us a message here. 

Written by

Southern Charm In Coconut Grove | 4121 Raynolds Avenue

Raynolds Small 1

Hidden behind 100 year oak trees and lush foliage, 4121 Raynolds Avenue in South Coconut Grove feels as though it were plucked straight out of the Garden District of New Orleans.  Enter the property through a wrought iron gate into a Chicago brick courtyard with vine covered walls.  Inside the home you are greeted with open and bright living spaces with banks of french doors and plantation shutters. Some of the special features include wood and French terra-cotta flooring, an expansive master suite with luxurious marble bath, new kitchen with island, custom wood cabinetry and Thermador appliances.

Raynolds Small 2

Raynolds Small 3

If you would like to schedule a showing of this wonderful home, please contact my office at 305-960-5318 or you can send us a message here.

Details of 4121 Raynolds Avenue:

  • 4 Bedrooms, 3.5 Baths
  • 4,016 square feet of living space
  • 7,000 square foot lot
  • 2 car garage
  • More Photos Here
  • Offered at $1,599,000

As the #1 Top Producing Realtors in Coconut Grove for over 5 years, we know the market here inside and out.  If you are interested in buying or selling Coconut Grove real estate and would like to set up a no pressure consultation, please feel free to contact The Riley Smith Group at 305-342-1623 or send us a message here. 

Written by

Coconut Grove Gated Communities

Coconut Grove Condos

Resources

More Resources