Archive for June, 2010
“I Can See Russia From My House!”
June 29th, 2010 | categories: Coconut Grove Real Estate
Well maybe not Russia but we can see Downtown Miami!
Coconut Grove is the first residential community south of Downtown Miami and this proximity makes it a very desirable and accessible location for many people. It is also the reason that values in Coconut Grove never dropped as low as other markets during the bust. It is all about location and Coconut Grove has it!
I snapped this picture over the weekend which shows the North Grove on the left (L’Hermitage, bridge to Grove Isle, Beacon Harbor, Residences of Vizcaya) and the Downtown/Brickell area in the distance.
As you know, I am a realtor and specialize in Coconut Grove. If you are interested in buying, selling, renting or building in the area please contact me at 305.342.1623 or send me a note here.
Some Sellers Taking A Big Hit At The Ritz Carlton
June 28th, 2010 | categories: Coconut Grove Condos
There are currently 32 units for sale at the Ritz Carlton Residences in Coconut Grove. Prices range dramatically from $340,000 (1 bedroom) all the way up to $3,600,000 (penthouse unit).
The least expensive 2 bedroom is Unit #605 currently priced at $545,000 (not a short sale or foreclosure) and features 1,540 square feet of living space. It has been on the market since April of 2010 (listed by Coldwell Banker). See photos below.
There have been 8 sales in the building so far this year. Many people were shocked when some of these units closed at extreme discounts off their asking prices. Unit #1801 (3 bedrooms) was asking $1,500,000 and closed at $1,050,000. Unit #208 (3 bedrooms) was asking $975,000 and sold for $800,000. Unit #1203 was asking $795,000 and closed for $612,500.
Some of the units in the Ritz have been on and off the market for years and I know of several sellers who are frustrated with the slow movement in the building. The carrying costs are not cheap and it may make sense for some people to settle for less now as opposed to paying the maintenance fees and taxes while the property sits on the market.
To view condos for sale in The Ritz Carlton Residences, click here.
If you are interested in exploring opportunities available at the Ritz Carlton Residences in Coconut Grove please feel free to contact me at 305.342.1623 or send me a note here.
New Listing In North Coconut Grove – Contemporary Style
June 25th, 2010 | categories: New Listings in the Grove
I have a new home for sale in North Coconut Grove located at 2559 Trapp Avenue. The house is an award winning, contemporary style home. The seller who is a French interior designer renovated the home for her own personal use and features special details such as Bisazza mosaic tile baths, steam showers, polished concrete floors and a top of the line kitchen.
Details of 2559 Trapp Avenue:
- 2,219 Square Feet Of Living Space
- 3 Bedroom, 3 Bath
- Offering Price: $625,000
- Click To View More Photos And Information
If you would like to see this home please contact me at 305.342.1623 and I would be happy to schedule a showing.
Hot Off The Press: 3500 Frantz Road Finally Hits Foreclosure
June 23rd, 2010 | categories: New Listings in the Grove
The house which is located on the corner of Frantz Road and Kumquat Avenue (across the street from the Water & Sewer Department) has finally fallen into foreclosure. I have received countless calls on this house over the years and have written several posts about it. I spoke with the prior agent a few weeks ago and he mentioned that it was only a matter of time before the bank took ownership.
Built in 2007, the location makes it a very tough sell but I have mentioned before that a hedge and some landscaping (about $20,000 worth) would give the property much more privacy. It is currently listed at $1,220,000 ($241 a foot) and features 5,051 square feet of living space, 5 bedrooms, 5.5 baths on a 12,778 square foot lot. The house is listed by Sotheby’s.
If you are interested in seeing this property, or any others in Coconut Grove please don’t hesitate to contact me at 305.342.1623 or send me a note here.
Great House Under $500,000 In Coconut Grove…
June 23rd, 2010 | categories: Coconut Grove Real Estate
One of the best houses in Coconut Grove priced under $500,000 is Javier Gonzalez’s (ReMax) listing located at 4180 Pomona Avenue. The house is newly remodeled, features 3 bedrooms, 2 baths with 1,786 square feet of living space on a 6,300 square foot lot. The home has wood/tile floors, impact windows and open spaces. The master bedroom has a dual vanity with jacuzzi tub and separate shower. List Price is $499,000.
There is also a nice deck out back overlooking a well maintained garden and avocado tree. In true Javier fashion, his property description says ”Just pull up a lawn chair, grab a brew and the chips & guacamole, cause the avocados are free.”
If you are interested in buying, renting, selling or building real estate in Coconut Grove and are looking for an experienced realtor, please don’t hesitate to contact me at 305.342.1623 or send me a note here.
Buyers Looking For “Perfection At The Perfect Price”
June 22nd, 2010 | categories: Buying Real Estate in Coconut Grove, Selling Real Estate in Coconut Grove
The New York Times recently wrote a great article about buyers in today’s market titled “Demanding Buyers Hinder The Housing Market” Here in Coconut Grove, we have also noticed an increase in the number of buyers who are looking for a house that is “perfectly perfect in every way”. Many times they will preview over 50 homes only to come to the realization that they cannot have everything on their wish list AND get the house at a discounted price. Most of the time these types of buyers end up fading into the deep blue yonder.
The article also mentions the new sense of power and entitlement that many buyers currently have. Streitfield writes ”Exacting buyers are upending the battered real estate market, agents and other experts say, leading to last-minute demands for multiple concessions, bruised feelings on all sides and many more collapsed deals than usual.”
This article couldn’t have come at a more appropriate time for many of my sellers. Recently we had buyers request at the last minute that our sellers trim their trees, replace an air filter in the air conditioner and install a new front door (none of the work requested was on the inspection report). Last month I had a buyer back out of a $600,000 deal after the inspection report came back with $5,000 of repairs. The sellers were willing to split the cost of the repairs 50/50, but the buyers wanted the sellers to foot the entire amount of the bill. They decided to walk away. Keep in mind, houses in South Florida are technically sold “as-is”.
These types of situations can put sellers on an emotional roller coaster and are exactly the reason why you need an experienced agent to help you navigate the process. Some requests are reasonable and some are not. It is our job to help buyers and sellers realize what is truly important and to keep them from becoming increasingly frustrated with each other to the point where nothing gets done.
If you are interested in buying or selling real estate and looking for a realtor who specializes in Coconut Grove please don’t hesitate to contact me at 305.342.1623 or send me a note here.
Volume Is Up In Coconut Grove Real Estate!
June 21st, 2010 | categories: Coconut Grove Real Estate
Quite a few things happened in the world of Coconut Grove real estate while I was gone. There were two waterfront sales – a home on Crystal Court sold for $5,500,000 ($785.00 a foot) and a home on South Bayshore Lane sold for $6,750,000 ($790.00 a foot). This brings our total sales in Coconut Grove up to $47,360,000 for 2010. That is $10,000,000 more than the amount that we had at the same time last year.
Second, there was a house located at 77 Bay Heights Drive which sold for $167.00 a foot (sale price $525,000). Although the house was in poor shape the sale will certainly hurt comps in that area (especially since it wasn’t a short sale or a foreclosure).
Third, an unapproved short sale on Ventura Avenue came on the market. The house was a tear down but had 6,350 square feet of land and priced at only $200,000. We immediately submitted an offer on behalf of one of our investors and I received notice from the agent that there are several offers on the table.
If you are interested in buying or selling real estate and looking for a realtor who specializes in Coconut Grove please don’t hesitate to contact me at 305.342.1623 or send me a note here.
Back From The Islands
June 20th, 2010 | categories: Coconut Grove Real Estate
Sorry for the lack of postings last week but I was away on a much needed vacation to Harbour Island in the Bahamas. For those of you don’t live here, the Bahamas are an easy flight from Miami and home to some of the best beaches in the world. Within just a few hours of leaving our doorstep, we were ankle deep in the pink (yes, pink ) sand of Briland.
Beat The Heat In Coconut Grove’s “Coolest” Pools
June 15th, 2010 | categories: Coconut Grove Real Estate
3575 Stewart Avenue | List Price: $18,000,000
3301 South Moorings Way | List Price: $14,900,000
3590 Crystal View Court | List Price: $12,900,000
3581 Crystal View Court | List Price: $6,900,000
If you are interested in buying, selling or renting real estate in Coconut Grove and are looking for a realtor who specializes in Coconut Grove please do not hesitate to contact me at 305.342.1623 or send me a note here.
5 Closed Townhouses In Center Grove
June 14th, 2010 | categories: Coconut Grove Real Estate
Here are some recent townhouses sold in Center Coconut Grove:
3114 Aviation Avenue | 4 Months On The Market | List Price: $599,000 | Sale Price: $510,000 | 3 Bedroom, 3 Bath | 2,550 Square Feet Of Living Space | 1 Car Garage
3060 Lime Court | Days On The Market: 360+ | List Price: $465,000 | Sale Price: $465,000 | 3 Bedroom, 2.5 Bath | 2,041 Square Feet Of Living Space | 1 Car Garage
2957 Bridgeport Avenue | Days On The Market: 360+ | List Price: 435,000 | Sale Price: $385,000 | 3 Bedroom, 3.5 Bath | 2,240 Square Feet Of Living Space | 1 Car Garage
3170 Ohio Street | Days On The Market: 360+ | List Price: $275,000 | Sale Price: $292,000 | 3 Bedroom, 2 Bath | 1,962 Square Feet Of Living Space | 1 Car Garage
If you are interested in buying or selling homes in Coconut Grove, don’t hesitate to contact me at 305.342.1623 or send me a note here.