Common Myth Debunked….

Ventura Small

It is a common misconception among sellers that you have to add in a little cushion to the list price to give buyers some negotiating room.  But the reality is that if you price the home correctly based on the recent comparables in your neighborhood then a cushion is not necessary.  Buyers know a well priced home when they see one and are willing to come in with a strong offer in order to secure the property.  The recent sales over the past 7 days demonstrate my point.   All homes were perfectly priced and sold very close to, at or above their asking prices.

  1. 3886 La Playa Boulevard | List Price: $659,000 | Sale Price: $670,000 | Listed by The Riley Smith Group | Sold Over Asking Price!
  2. 1788 Fairhaven Place | List Price: $945,000 | Sale Price: $945,000 | Listed By Ivory Cooks of Coldwell Banker | Sold For Full Price!
  3. 4104 Ventura Avenue | List Price: $849,000 | Sale Price: $840,000 | Listed by The Riley Smith Group | Sold Within 99% Of List Price!

The real estate market in Coconut Grove is very complex.  If you are interested in working with a Realtor who knows the numbers and tracks the sales, please contact me.  I have been the top selling Realtor in Coconut Grove for the past 5 years.  I can be reached anytime on my cell at 305-342-1623 or you can fill out our contact form here.

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Modern Hacienda Just Listed In Coconut Grove | Presented By The Riley Smith Group

Photo of Living Room at Home in Coconut Grove

I wanted to give my blog readers the first opportunity to check out our new listing in North Coconut Grove before it hits the MLS.  This modern hacienda style home has wood beamed ceilings, arched doorways, impact glass, natural light and is completely walled and gated.  One of my favorite things about this home is that entire house opens up to the pool and lush gardens.   It is a great home for entertaining and enjoying the outdoors.

Covered Entertaining Space

Pool at 2769 SW 22nd Avenue

Details of 2769 SW 22nd Avenue, Coconut Grove:

  • 4 Bedrooms, 4 Bathrooms (+ Maids Room)
  • 3,057 Square Feet of Living Area
  • 9,608 Square Foot Lot
  • Garage
  • Offered at: $1,349,000

We Know Coconut Grove Real Estate.

If you are interested in buying or selling a home in Coconut Grove it is essential to work with someone who knows the numbers and tracks the sales.  I am the #1 top producing Realtor in Coconut Grove and would love the opportunity to work with you.  I can be reached anytime on my cell phone at 305-342-1623 or you can send me a message here.

Don’t Miss Today’s News From Our Other Miami Real Estate Blogs:
Coral Gables Real Estate | Brickell Real Estate | Key Biscayne Real Estate

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Property Alert: New Listing In Longview!

Longview

Longview is a very sought after community in Coconut Grove.  It is a small enclave of 10 luxury two-story villas surrounded by lush gardens, a pool and tennis court.  It is ideally situated between South Bayshore Drive and Tigertail Avenue in North Coconut Grove.  The last property to come on the market in Longview was my listing at 2475 South Bayshore Drive Unit #8 back in 2012 which closed for $915,000.

Longview Pool

There is a new opportunity to get into the gated community of Longview.   Unit #7 has come on the market recently as a rental property.  With 4 bedrooms, 4 bathrooms and 3,799 square feet of living area, it is nicely updated with stone floors, formal living and dining room, hurricane impact windows, chef’s kitchen and a library/office.   This unit is offered at $8,000 per month by Azure Realty.

Longview is one of the original estates of Coconut Grove.  In the early 1900′s, it was home to Alfred Whitting and later sold to philanthropist W.T. Grant.  In 1937 Mr. Grant donated Longview to the University of Miami and it became the President of UM’s home for the next 37 years.  It was the scene of many of the University’s social and ceremonial functions. 

We Know Coconut Grove Real Estate.

If you are interested in buying or selling a home in Coconut Grove it is essential to work with someone who knows the numbers and tracks the sales.  I am the #1 top producing Realtor in Coconut Grove and would love the opportunity to work with you.  I can be reached anytime on my cell phone at 305-342-1623 or you can send me a message here.

Don’t Miss Today’s News From Our Other Miami Real Estate Blogs:
Coral Gables Real Estate | Brickell Real Estate | Key Biscayne Real Estate

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Values Soar At Grove Isle | $451.00/Square Foot And Rising

Grove Isle, Coconut Grove Condo Chart

Along with the single family home market, condo values have been steadily increasing over the past few years in Coconut Grove.   At Grove Isle, the average has reached an all-time high of $451.00 per square foot.  There have been 9 closed sales so far in 2014, and there are 2 currently under contract (these have an average list price/sq. ft. figure of $518.00).   This is an incredible figure when you look at how far we have come.  Just 3 years ago the average was at $297.00/square foot.  Owners who have hung on to their units have seen a nice appreciation since then!

An important sale that I wanted to mention was Penthouse 10 which closed back in May of this year for $1,600,000.  At $660.00/square foot, this was the highest “Sale Price/Square Foot” figure Grove Isle has experienced since 2008!  Broker was Fortune Realty.

Inventory at Grove Isle has been extremely low over the past few years with no more than 10 units on the market at any given time.  There is a high buyer demand for the 3 bedrooms units on the island, and when they are listed for sale they typically sell very quickly.

Grove Isle appeals to all types of buyers, but particularly for those looking for a condo with incredible amenities and island style living.   Some of the best things about living at Grove Isle include their breathtaking waterfront views, tennis courts, full service marina, restaurants, bar, spa, hair salon, gym and scenic walking/jogging path.

View condos for sale at Grove Isle here.

We have a strong history of selling condos in Coconut Grove.  Please contact us if you are interested in learning more about what is for currently for sale.  If you own a condo and are considering selling, please contact us at 305-342-1623.

Don’t Miss Today’s News From Our Other Miami Real Estate Blogs:
Coral Gables Real Estate | Brickell Real Estate | Key Biscayne Real Estate

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Coconut Grove Townhouse Just Sold For Full Asking Price By The Riley Smith Group!

3177 Florida Collage

There was a frenzy over our Coconut Grove townhouse listing at 3177 Florida Avenue when it came on the market.  We placed it under contract in a matter of days and closed today for full asking price.  Buyers are drawn to townhouses because they are turn-key ready and typically offer more living space than a similarly priced single family home in Coconut Grove.

3177 Florida Avenue was a showcase property that had high-end finishes, light filled interior spaces, volume ceilings and a private covered terrace with pool.  Other features included a private balcony off of the expansive master suite, custom built-ins throughout, Italian porcelain tile floors, impact glass and a chef’s kitchen with sleek European cabinetry.  The townhouse closed for $769,000 or $315.00/square foot. Congratulations to the sellers and buyers!

We Know Coconut Grove Real Estate.

If you are interested in buying or selling a home in Coconut Grove it is essential to work with someone who knows the numbers and tracks the sales.  I am the #1 top producing Realtor in Coconut Grove and would love the opportunity to work with you.  I can be reached anytime on my cell phone at 305-342-1623 or you can send me a message here.

Don’t Miss Today’s News From Our Other Miami Real Estate Blogs:
Coral Gables Real Estate | Brickell Real Estate | Key Biscayne Real Estate

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What Price Point Sells The Most In Coconut Grove?

Coconut Grove Homes Chart

Take a look at the chart I created above which shows the amount of homes For Sale and Sold in different price points in Coconut Grove.  As you can see, the segment with the highest activity is priced between $500,000 and $999,999.  The market definitely needs to replenish its inventory in this price range in order to satisfy the demand of buyers.  It is nearly double the activity of the others.

You may be wondering why there isn’t more activity in the 0-$499,999 price range, but the reason is simply because it is virtually impossible to find a single family home in that price point here.

We Know Coconut Grove Real Estate.

If you are interested in buying or selling a home in Coconut Grove it is essential to work with someone who knows the numbers and tracks the sales.  I am the #1 top producing Realtor in Coconut Grove and would love the opportunity to work with you.  I can be reached anytime on my cell phone at 305-342-1623 or you can send me a message here.

Don’t Miss Today’s News From Our Other Miami Real Estate Blogs:
Coral Gables Real Estate | Brickell Real Estate | Key Biscayne Real Estate

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Highest Sale Price To Date And Other Significant Sales

Costa Rica 2014

Summer is in full force here in Coconut Grove, temperatures are high and the streets are empty.  I just got back from a trip to Costa Rica where I caught up on some much needed rest and relaxation.  Now I am back for the rest of the summer and gearing up for a busy 3rd quarter.   While I was gone there were some important sales that  I wanted to let you know about.

3843 Little Avenue | Gated Community of Ye Little Wood | Highest Sale Price In 2014: $4,225,000 | 8,488 Square Feet Of Living Area | 26,500 Square Foot Lot | 5 Bedrooms, 7 Baths | Agent: Mayi de la Vega of One Sothebys
3830 Carole Court | Gated Community of Four Way Lodge Estates | Waterfront Home Sold For Full Price: $2,360,000 | 3,255 Square Feet Of Living Area | 11,544 Square Foot Lot | 3 Bedrooms, 2.5 Baths | Agent: Helen Nicastri of Coldwell Banker
3849 Leafy Way | Sold For Full Price: $2,150,000 | 3,553 Square Feet Of Living Area | 28,234 Squre Foot Lot | 4 Bedrooms, 3.5 Baths | Agent: Sylvia Cherry of One Sothebys

Real estate in Coconut Grove is changing on a daily basis.  If you are interested in buying or selling a home in Coconut Grove it is essential to work with someone who knows the numbers and tracks the sales.  I am the #1 top producing Realtor in Coconut Grove and would love the opportunity to work with you.  I can be reached anytime on my cell phone at 305-342-1623 or you can send me a message here.

Don’t Miss Today’s News From Our Other Miami Real Estate Blogs:
Coral Gables Real Estate | Brickell Real Estate | Key Biscayne Real Estate

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New Construction Home In Coconut Grove | Just Sold By The Riley Smith Group

New Construction Home In Coconut Grove

New construction homes in Coconut Grove are in high demand.  Today we closed on our new construction listing at 2526 Lincoln Avenue in North Coconut Grove for $1,500,000.  This stunning modern masterpiece offered 3,800 square feet of living area with 4 bedrooms, 3.5 baths on a 6,250 square foot lot.  The home had expansive light filled living areas with volume ceilings, impact glass and top of the line finishes. Some of the features included an island kitchen, luxurious master suite with terrace overlooking the pool and private outdoor patio.

We Are Coconut Grove Real Estate Specialists.

Real estate in Coconut Grove is changing on a daily basis.  If you are interested in buying or selling a home in Coconut Grove it is essential to work with someone who knows the numbers and tracks the sales.  I am the #1 top producing Realtor in Coconut Grove and would love the opportunity to work with you.  I can be reached anytime on my cell phone at 305-342-1623 or you can send me a message here.   

Don’t Miss Today’s News From Our Other Miami Real Estate Blogs:
Coral Gables Real Estate | Brickell Real Estate | Key Biscayne Real Estate

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Drones Over Coconut Grove

When it comes to real estate, technology has completely changed every aspect of the business.   In marketing, Realtors use videographers, professional photographers and now DRONES!

Here is a picture of a drone that was used to take some great aerial shots of one of my upcoming Coconut Grove waterfront listings.  Thanks to Tommy Byrne from North25.com for providing us with some great pictures.

Coconut Grove Drone

We Are Coconut Grove Real Estate Specialists.

Real estate in Coconut Grove is changing on a daily basis.  If you are interested in buying or selling a home in Coconut Grove it is essential to work with someone who knows the numbers and tracks the sales.  I am the #1 top producing Realtor in Coconut Grove and would love the opportunity to work with you.  I can be reached anytime on my cell phone at 305-342-1623 or you can send me a message here.  

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Highest Sale Price At Grovenor House In 12 Months

Grovenor Exterior

Unit 2101 at The Grovenor House in Coconut Grove recently closed for a sale price of $3,625,000 or $825.00/sq. ft..  This sale is important because it is the highest “Sale Price” and “Sale Price/Sq. Ft.” figure we have seen in the building in over 12 months.  Prices have risen dramatically over the past few years at The Grovenor House and as a result we have seen sales slow down in 2014 (there have been just 4 condos sold in 2014).  But this transaction shows that buyers continue to see value here and are willing to pay a premium to live in the building.  Unit 2101 was a corner unit with 4,026 square feet of living space and, 4 bedrooms, 6.5 baths and completely turn-key ready.  Unit 2101 was listed by One Sothebys.

We Are Coconut Grove Real Estate Specialists.

Real estate in Coconut Grove is changing on a daily basis.  If you are interested in buying or selling a home in Coconut Grove it is essential to work with someone who knows the numbers and tracks the sales.  I am the #1 top producing Realtor in Coconut Grove and would love the opportunity to work with you.  I can be reached anytime on my cell phone at 305-342-1623 or you can send me a message here.  

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