Archive for March, 2009
Waterfront Homes In Coconut Grove
March 9th, 2009 | categories: Buying Real Estate in Coconut Grove, Coconut Grove Real Estate
Your options are limited if you are looking for Coconut Grove waterfront homes. One reason is that Coconut Grove doesn’t have the abundance of canals that you see in other areas of South Florida. Another is that a majority of our coast is taken up by public parks, marinas, yacht clubs and Mercy Hospital. Of the approximately 250 single family homes on the market, there are only 7 for sale that are waterfront. Click here to scroll through Coconut Grove’s waterfront properties on the market as of March 9, 2009.
The homes on the water in Coconut Grove begin at $2,597,000 for a 5 bedroom house with 4,563 of square feet in The Moorings and go all the way up to $8,500,000 for a 4 bedroom house with 8,697 square feet on South Bayshore Drive. The average price per square foot of waterfront homes currently for sale in Coconut Grove is $941.00, with a high of $1,128.00 per square foot and a low of $555.00 per square foot.
The fact that only 2 of the 7 homes have made price reductions is indicative of the fact that these sellers do not “need” to sell and are perhaps waiting for the market to turn around. None of the properties are listed as foreclosure or short sale.
Dock space seems to be a requirement for many people looking at waterfront homes. The home listed for $2,597,000 in The Moorings is the only waterfront home for sale that does not come with a private dock. If you were interested in buying this house and really needed a place for your boat, The Moorings does have a community marina where you could put your name on the waiting list for the next available slip. I was told recently that the wait is about 3 years.
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How Does Your Home Size Up?
March 8th, 2009 | categories: Selling Real Estate in Coconut Grove
Take a look at all of the Coconut Grove single family home sales in 2008 to see what your home may be worth in today’s market.
Click on the image below to see all 2008 Coconut Grove single family home sales.
Let’s Meet At The Art Stroll
March 6th, 2009 | categories: Grove News
Stop by and say hello this Sunday March 15, 2009 at The Gifford Lane Art Stroll. I will be hanging out at artist Mario Paysee’s table and will be there to talk about the Coconut Grove real estate market with anyone who is interested.
Recent Closed and Pending Sales in Coconut Grove
March 5th, 2009 | categories: What Is Selling In Coconut Grove Real Estate?
The following are recent Closed Sales in Coconut Grove:
|
Address |
List Price |
Sale Price |
Beds |
Sq.Ft. |
Distressed |
|
1727 Espanola Drive |
$1,599,000 |
$1,500,000 |
5/5 |
4,529 |
No |
|
4231 Justison Court |
$899,000 |
$901,000 |
4/4 |
4,254 |
Foreclosure |
|
3625 Battersea Road |
$799,900 |
$730,000 |
5/3 |
3,078 |
No |
|
1809 Micanopy Avenue |
$799,000 |
$685,000 |
4/3 |
3,127 |
No |
|
3699 Loquat Avenue |
$320,000 |
$295,000 |
3/3 |
2,052 |
Foreclosure |
The following are recent Pending Sales in Coconut Grove:
|
Address |
List Price |
Beds |
Sq.Ft. |
Days On |
Distressed |
| 2534 Lincoln Avenue | $695,000 | 2/1 | 1,408 | 11 | No |
| 1835 Opechee Drive | $625,000 | 7/5 | 3,359 | 3 | Foreclosure |
| 4180 Pomona Avenue | $300,000 | 3/2 | 1,531 | 210 | Short Sale |
Residences at Vizcaya | 18 Floors?
March 3rd, 2009 | categories: Coconut Grove Condos
Coconut Grove’s new boutique condo building The Residences at Vizcaya is coming along nicely. I passed by the site at 3535 Hiawatha Avenue the other day and saw the construction crews hard at work.
Going over the units that are currently for sale here I noticed the listing agents seem to disagree as to how many floors the building will actually have. Some agents say 5, while others say 6 and one agent wrote 18 floors! To clear things up, the sketch of the building below shows that there will be 6 floors. The buyer of the unit on the 18th floor is sure going to be surprised!
There are currently 11 units for sale at the Residences at Vizcaya ranging in price from $5,900,000 to $1,699,000. The sizes range from 2,710 to 5,491 square feet of living area. The average list price per square foot is $763.00 which is one of the highes PPSF in Coconut Grove as of today.
You may also be interested in: Hard Hat Tour of Residences of Vizcaya
You can check out a virtual tour of the Residences of Vizcaya here.
A New Realtor Trick…
March 2nd, 2009 | categories: Coconut Grove Real Estate
A foreclosure came on the market last week that was a great deal on Battersea Road for $380,000 (4 bedrooms, 4 baths). I saw it on my morning Hot Sheet and immediately went over to preview the house for some clients. From experience I know that when deals come along like this in Coconut Grove they could be gone within hours. 
By the time I got my clients to see the property later in the afternoon another realtor had come along and stolen the key out of the lockbox. If nobody can get inside the house – nobody will make an offer before them. This gives new meaning to the phrase ”looking out for your client’s best interests”. With so few deals happening these days in Coconut Grove I am sure that the pressure for some agents is mounting. As the market tightens we may see more realtor tricks on the way….I’ll keep you posted.
For those of you who don’t know what a lockbox is, it is a locked box which contains the house key inside. Realtors who list foreclosure properties will put a lockbox on the property to save themselves from having to show it in person. The problem? You risk vandalism, theft, squatters, realtor tricks or so many other things that could go wrong when you allow unsupervised access to a home.
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Then and Now….
March 1st, 2009 | categories: Coconut Grove Real Estate Market Conditions
I am seeing more and more 4 bedroom homes come on the market in Coconut Grove in the upper $600,000 price range. That is incredible because just a few years ago you couldn’t touch a 4 bedroom house in the Grove for under $800,000.
Check out these 4 bedroom homes in Coconut Grove priced under $700,000.
50 Bay Heights Drive | $699,000
- 3,202 Square Feet Living Area, 9,826 Square Foot Lot
- 4 Bedrooms, 3 Baths
- New kitchen, 3 new A/C’s and duct work
- On market since September 2008 – never reduced.
3565 Avocado Avenue | $699,000
- 2,034 Square Feet Living Area, 7,000 Square Foot Lot
- 4 Bedrooms, 2 Baths
- Pool, new marble floors, new A/C, new windows and doors, requires some renovation.
- Reduced from $779,000 to $699,000 in November 2008
125 West Shore Drive | $650,000
- 2,676 Square Feet Living Area, 10,776 Square Foot Lot
- 4 bedrooms, 4 baths
- Pool, split floor plan.
- Reduced from $720,000 to $650,000 in January 2009
You may also be interested in: A Tidal Wave of Foreclosure Activity In Coconut Grove