Archive for August, 2009
Live Among The Trees….In Style
August 31st, 2009 categories: Coconut Grove Real Estate
This one of a kind residence has been designed to perfection by a local famed architect. I can assure you that this $5,950,000 home is anything but your typical Grove cottage. The home has been featured in Architectural Digest, selected for the tour of Miami fabulous homes and has been the site of many fashion and photo shoots.
Behind the entrance of 4080 Douglas Road lies a magnificent property complete with gorgeous terraces, stunning pool, custom millwork, windows that look out to the treetops and high steel beamed ceilings. The home is located on almost 1 acre of land full of native trees which is extremely rare to find right in the heart of the Grove.
Other details include:
- 4080 Douglas Road, Miami, FL 33133
- 5 bedrooms, 5 baths
- 5,598 square feet of living space
- 3,700 square feet of covered terrace
- Solar Panels On Roof Tied to FPL Grid
- Listed by Rex Hamilton of The Rex Hamilton Group
- Asking Price: $5,950,000
To stay updated with all of the current Coconut Grove real estate information, receive my blog posts directly to your inbox by subscribing here.
If you are interested in buying or selling real estate in Coconut Grove, please give me a call at 305.342.1623 or send me a note here.
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Waterfront Estate in South Coconut Grove Reduced
August 28th, 2009 categories: New Listings in the Grove
This gorgeous waterfront estate on Poinciana Avenue in South Coconut Grove was just reduced by $600,000 to $5,900,000. The home features expansive views of Biscayne Bay, 25’ high great room on the second floor, maids quarters, lap pool and pilates room.
The home is located in the gated community of Four Way Lodge Estates.
It is priced just under $900 per square foot.
Other Details:
- 6,573 square feet of living space
- 12,000 square feet of interior + exterior living space
- 10,800 square foot lot
- 4 bedrooms, 4.5 baths
- 100 feet of water frontage
- Purchased in 1999 for $2,450,000
- Listed by Jorge Uribe at Sotheby’s
If you are interested in buying or selling real estate in Coconut Grove, please give me a call at 305.342.1623 or send me a note here.
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Looking for Urban Living in Coconut Grove?
August 25th, 2009 categories: Coconut Grove Real Estate
I have many clients who are looking for a place to live that is within walking distance to the center of town. When you take a look at the areas surrounding downtown Coconut Grove, you will see that we have a wide range of properties available in prices ranging from $100,000 to several millions. Typically you pay a premium to live in the heart of a city, but that is not necessarily the case here in Coconut Grove.
Walkable 1 Bedroom Condos/Studios/Lofts
If you are looking for a small studio in the center of the village you have quite a few options. First off, we have The Mayfair Hotel and The Mutiny which are both condo-hotels. Right now there are a few distressed 1 bedrooms in The Mutiny priced between $100,000 to $200,000. This is a very good, well kept building with great views of Sailboat Bay. In the Mayfair Hotel there are some units currently priced under $100,000. Beware that the associations fees are running very high there right now, (between $1,000 to $2,000 per month for a 1 bedroom!). You also have the loft style units located in Grove Square across from the Mayfair Hotel priced in the $200,000’s. Finally, the Ritz Carlton offers 1 bedroom units priced in the $500,000’s. Click here to see what I believe to be the best 1 bedroom condo in Coconut Grove.
Walkable 2+ Bedroom Condos
The Rice Building and The Lofts of Mayfair are two newer boutique condos here in Coconut Grove. There is currently a 2 bedroom, 2 bath unit in the Rice building asking $525,000. The Lofts of Mayfair has a 2 bedroom, 2 bath available for $425,000. Also, The Mutiny, The Sonesta, Yacht Harbor, Ritz Carlton and Grove Tower are older buildings but still nice and have great views featuring units with 2+ bedrooms.
Walkable Townhouses/Villas
Center Grove offers new and old construction townhouses priced from $300,000 up to $800,000. Located just across from Greenstreet Cafe is The Cloisters which is a newer community consisting of townhouse style condos. Prices in The Cloisters are currently running from $1,800,000 to $2,900,000. South of The Cloisters is Abitare, another gated community of townhouses.
Walkable Single Family Homes
There are several “walkable” single family home neighborhoods in Coconut Grove especially if you use the Commodore Bike Trail along Main Highway, or the sidewalk along South Bayshore Drive to get to the center of town. Prices of single family homes in these areas run anywhere from $400,000 to the millions.
One thing is for sure, Coconut Grove has something to offer everyone!
To stay updated with all of the current Coconut Grove real estate information, receive my blog posts directly to your inbox by subscribing here.
If you are interested in buying or selling real estate in Coconut Grove, please give me a call at 305.342.1623 or send me a note here.
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Coconut Grove Garden By Night
August 24th, 2009 categories: Coconut Grove Real Estate
Some shots from our yard.
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You Can’t Count Your Eggs In This Market
August 24th, 2009 categories: Coconut Grove Real Estate
My Coconut Grove sellers had a good weekend, four of them received offers on their homes. In a healthy real estate market I would be optimistic that the offers would come to fruition. But in this market, you can never count your eggs before they are hatched.
Even if we are able to settle on a price, I have had $2,000,000 worth of signed, sealed and delivered contracts fall through in the last 2 months.
Buyers these days seem to be a little apprehensive and are easily scared off even after they have agreed upon a price. Between appraisals, inspections, and genuine buyer’s remorse you are truly never sold until you exchange keys for cash.
To stay updated with all of the current Coconut Grove real estate information, receive my blog posts directly to your inbox by subscribing here.
If you are interested in buying or selling real estate in Coconut Grove, please give me a call at 305.342.1623 or send me a note here.
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A day in the life of a Realtor – 16 houses, 83 phone calls and 32 emails
August 21st, 2009 categories: Coconut Grove Real Estate
The Quiet Before The Storm
Just like every day, yesterday started with breakfast at Greenstreet. This is my opportunity to gather my thoughts for the day and to catch up with the locals about what’s going on in the Grove.
I was at the office at 9:30 am after breakfast. My assistant Sandy and I sat down to answer emails from the night before and go over our game plan for the day, who was going where and who was doing what.
Real Estate Speed Dating
I am working with a great couple who are first time buyers and are very excited to move to Coconut Grove. They had sent me a list of about 25 homes that they were considering. Since I have previewed just about everything in Coconut Grove I was able to narrow their list down to 11 possibilities. Usually it is not a good idea to look at that many properties in one day because it can be difficult to distinguish one from another. These guys seem to have a firm grasp of what they are looking for and an ability to walk through a house quickly. So at 11:00 we hit the ground running. 5 homes in the first hour in South Grove, 4 homes in the next hour in North Grove and back to 2 in the South Grove. My buyers found out that most Grove homes are very quirky!
Today I Get To Rest
Finished with my buyers around 2:00. No lunch yet, back to the office to get ready for my hectic evening schedule. Looking at my cell phone for yesterday I see that I made or received 83 phone calls. What did Realtors ever do without cell phones! I also prepared a listing agreement for one of my out of town blog readers who owns a great lot in the South Grove. Stay tuned for more information on that.
Play-Dough and Tinkerbelle
I was lucky enough to take an hour and go home to play with my 2 year old from 4:00 to 5:00 pm.
This makes it all worthwhile
Working The Night Shift
5:30 – 6:00 pm: I had a second showing on my listing at 4070 Matheson Avenue which we just reduced by $50,000.
6:00 - 7:00 pm: Back to the office to return some phone calls.
7:00 pm: Met with the sellers of my townhouse on Jackson Avenue to discuss strategy going forward and give them an update on the townhouse market.
8:00 pm: Off to do a listing presentation with another nice couple who own a townhouse in Coconut Grove and are rapidly growing out of it.
Finally, 9:00 pm appointment on my listing at Center Street where we reduced the price of the townhouse from $450,000 to $399,000 which I hope will produce a lot more interest.
At the end of the day I am all talked out, but lucky to work with local Realtors who help to make my job easier and my loyal clients and blog readers for allowing me to do a job that I love.
| Discussion: 3 Comments »
Two foreclosures sell under $200.00 per square foot
August 19th, 2009 categories: Coconut Grove Real Estate
This week there were 2 foreclosures that closed under $200.00 per square foot.
3701 Battersea Road (photo above) | 4 Bedroom, 4 Bath | 2,680 sq. ft. Living Space | List Price: $364,000 | Sale Price: $340,000 | Sale Price Per Square Foot: $126.00 | Last Sale Price in 2006 was $920,000
3690 Stewart Avenue (photo above) | 5 Bedroom, 4 Bath | 4,634 sq. ft. Living Space | List Price: $675,000 | Sale Price: $620,000 | Sale Price Per Square Foot: $133.00 | Last Sale Price in 2005 was $1,270,000
I saw both of these properties when they first came on the market and think that both are a great investment for whoever bought them as long as they have the cash to significantly update them.
The home on Stewart is a rare opportunity to buy in a gated community at this price. The home will certainly take several $100,000’s to renovate but once completed they will have a great home for under a $1,000,000.
To stay updated with all of the current Coconut Grove real estate information, receive my blog posts directly to your inbox by subscribing here.
If you are interested in buying or selling real estate in Coconut Grove, please give me a call at 305.342.1623 or send me a note here.
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The End Of The Grove Garden Foreclosure Story
August 17th, 2009 categories: Condos
The foreclosure unit at Grove Garden which got so much interest last month (see post here, and here) closed on Friday for a price of $320,000. If you recall, my client’s offer was $327,000. The backup offer and the offer that they finally accepted was $330,000. As it turned out there was a government lien on the property that brought the final sale price down to $320,000.
I still feel at this price the unit was a great deal, however the buyer took on a bit of risk as the building faces many foreclosures in its future.
The unit was listed at $332,000. It was a 2 bedroom, 2.5 bath unit with 1,580 square feet of living space.
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Wish Lists
August 17th, 2009 categories: Coconut Grove Real Estate
It makes a Realtor’s job easier when the clients know exactly what they want. It gives us a great starting point and we are able to narrow down the hundreds of properties on the market.
Sometimes I get a buyer’s wish list and enter the criteria into the MLS only to find out that there are zero properties that suit their needs. At that point, I usually sit down with them to go over what is most important and what they are willing to compromise on. Sometimes it can take awhile for buyers to realize that there is no “perfect” home.
I don’t like to pressure my clients. If there is nothing currently on the market that interests them, it is best to wait a few weeks and see if anything new pops up. At this point in a buyer’s search it is helpful to have a local Realtor like myself who can call up other Grove agents I have a relationship with and find out if they have any new listings coming up or pocket listings not on the MLS. For instance, I just closed on 3130 Day Avenue that fell into this category.
Another one of my client’s sent me this flow chart. It detailed everything from location, to orientation of the home, to type of lot. In the end, they bought a Center Grove Townhouse that satisfied about 75% of the things on their wish list and are very happy with their purchase.
To stay updated with all of the current Coconut Grove real estate information, receive my blog posts directly to your inbox by subscribing here.
If you are interested in buying or selling real estate in Coconut Grove, please give me a call at 305.342.1623 or send me a note here.
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Recent Pending and Closed Sales in Coconut Grove
August 14th, 2009 categories: Coconut Grove Real Estate
The $600,000 and under market has been very active so far in the month of August. Perhaps it is all those first time buyers trying to take advantage of the $8,000 tax credit that will expire at the end of the year.
Pending Single Family Homes in August:
| Address: | Beds/Baths | Sq. Ft. | List Price: | Distress? |
| 2320 Tigertail Avenue | 4/3 | 3,040 | $585,000 | Short Sale |
| 2711 SW 22 Ave. | 3/3 | 1,721 | $575,000 | No |
| 3274 Day Ave. | Land Value | 13,000 Lot Size | $299,000 | No |
| 3740 Charles Terrace | 2/1 | 837 | $93,900 | Foreclosure |
Closed Single Family Homes in August:
| Address: | Beds/Baths | Sq. Ft. | Sold Price: | Distress? |
| 3511 Royal Palm Ave. | 3/2 | 1,514 | $365,000 | Short Sale |
| 3565 Avocado Ave. | 4/2 | 2,034 | $460,000 | No |
Pending Townhomes/Condos in August:
| Address: | Beds/Baths | Sq. Ft | List Price: | Distress? |
| Cloisters On The Bay | 3/3 | N/A | $1,350,000 | Short Sale |
| 3267 Allamanda Street | 3/2 | 2,060 | $435,000 | No |
| 3070 Allamanda Street | 2/2 | 1,080 | $329,000 | No |
| 3097 Ohio Street | 3/2 | 2,555 | $275,220 | Foreclosure |
| 3149 New York Street | 3/2 | 2,406 | $275,000 | Short Sale |
| 3110 Bird Avenue | 2/1 | 1,092 | $199,000 | No |
Closed Townhomes/Condos in August:
| Address: | Beds/Baths | Sq. Ft. | Sold Price: | Distress: |
| 3070 Allamanda Street | 2/2 | 1,010 | $280,000 | No |
| 2699 Tigertail Avenue | 1/1 | 1,016 | $197,000 | Short Sale |
| 2575 SW 27 Ave. | 2/2 | 625 | $75,000 | Foreclosure |
**Note, 2320 Tigertail Avenue is no longer pending and has come back on the market.
To stay updated with all of the current Coconut Grove real estate information, receive my blog posts directly to your inbox by subscribing here.
If you are interested in buying or selling real estate in Coconut Grove, please give me a call at 305.342.1623 or send me a note here.
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