Archive for August, 2010
Coconut Grove, A Small Village In The Big City Of Miami
August 31st, 2010 | categories: Coconut Grove Real Estate
Coconut Grove has everything I could ever want for my family, a place to live that is close to the culture and energy of Miami while having the intimacy of a small village. Here are a few of my experiences over the past few days that demonstrate why we live in such a special community….
Friday was a particularly busy day and I was trying to wrap things up at the office in time to cook dinner before the Dolphins game. It was looking as if something was going to give….dinner or football. But at 6:00 pm I got a call from my neighbor Larry Kritcher (an excellent cook by the way) and said that he had plenty of extras for dinner if we wanted to join them. I had just enough time to head to Fresh Market grab a bottle of wine and get to the Kritcher’s house. We had a great meal, great conversation and finished just in time for kickoff. What more could I ask for?
On Saturday morning we went over to Coral Reef Yacht Club for a swim. Our friends (and past clients) happened to be at the pool with their 3 kids and we had a nice impromptu get together. As the day went on there were many other friends and families that passed through. It was good to catch up with everyone before the start of school.
On Sunday in the Grove I ran into some clients of mine who had just moved here from Ireland and it was great to hear that they were settling in, enjoying their children’s new school and all of the things that Miami has to offer.
My wife and I took a nice run through the South Grove after the rains passed late in the afternoon. The streets were quiet and for the first time there was a slight coolness in the air.
Yesterday I had a breakfast meeting (at Greenstreet) with Gordon Fales regarding a transition school I am hoping to open in the West Grove for adjudicated youth. Gordon is part of the Coconut Grove Collaborative which is a strong coalition of residents, organizations and community partners to restore and revitalize the West Grove. We had a great talk about my ideas and he gave me some good input as well as some good points of contact.
So there you have it, being a Coconut Grove resident is more than just an address. When you move to Coconut Grove you become a member of our tight knit community. Depending on what street you live on you may get invited to the Kritcher’s for dinner, Irivington Avenue’s outdoor Thanksgiving party, or a neighborhood bike parade through the North Grove.
Need A Home With A Guest House In Coconut Grove?
August 30th, 2010 | categories: Buying Real Estate in Coconut Grove
Many people are looking for a house with a detached guest house for in-law quarters, maid’s/nanny’s quarters, gym, office, storage, kid’s play room, dog house, yoga studio or writer’s retreat. A “guest house” can mean several different things especially here in Coconut Grove. Some are a 200 x 200 square enclosure while others have kitchens, vaulted ceilings and up to 2 or 3 bedrooms. I have even seen some properties where the guest house was nicer than the main house!
If you are interested in buying or selling real estate in Coconut Grove and are looking for an experienced realtor please do not hesitate to contact me. I can be reached on my cell phone anytime at 305.342.1623 or you can send me a message here.
To stay updated with all Coconut Grove real estate information, receive my blog posts via email by subscribing here. Once you register, you must activate the subscription in a followup email.
Check Out Our New Look In Today’s Miami Herald
August 29th, 2010 | categories: Coconut Grove Real Estate
Neighbor’s Section, Miami Herald
A Lack Of “Move-In” Ready Homes In Coconut Grove
August 27th, 2010 | categories: Coconut Grove Real Estate
I talk to other realtors all day long about activity in the area and the market in general. It is a good way to get a sense of what is happening outside of my own personal business and aside from what the numbers may show. Many of them, including myself are concerned about the inventory that is currently available in Coconut Grove. While there are over 200 single family homes for sale the general feeling is that there are not enough “move in ready” homes on the market.
Why you ask? In my opinion, buyers who purchased a home in the last 5 to 6 years are more likely to have made renovations and own a ”newer” home than those who bought 10+ years ago. However, these are the same people who bought at the height of the market and are currently under-water (their mortgage is higher than the current value) and cannot afford to sell.
With demand high, the market for move-in ready homes in Coconut Grove is one of the strongest we have.
If you are interested in buying or selling real estate in Coconut Grove and are looking for an experienced realtor please do not hesitate to contact me. I can be reached on my cell phone anytime at 305.342.1623 or you can send me a message here.
To stay updated with all Coconut Grove real estate information, receive my blog posts via email by subscribing here. Once you register, you must activate the subscription in a followup email.
Villa De Garmo Sells For $2,737,500
August 26th, 2010 | categories: What Is Selling In Coconut Grove Real Estate?
Keeping you up to date on the luxury market, Villa De Garmo closed recently for $2,737,500. This makes it the 4th home to sell over $2,000,000 all year. It is also the highest priced non-waterfront home to sell in 2010. Details of the home included 7,761 square feet of living space, 6 bedrooms, 6 baths, 19,770 square foot lot, new pool and incredible lushly landscaped grounds. Broker was Coldwell Banker.
If you are interested in buying or selling real estate in Coconut Grove and are looking for an experienced realtor please do not hesitate to contact me. I can be reached on my cell phone anytime at 305.342.1623 or you can send me a message here.
To stay updated with all Coconut Grove real estate information, receive my blog posts via email by subscribing here. Once you register, you must activate the subscription in a followup email.
The Ultimate Guide To Coconut Grove Real Estate
August 25th, 2010 | categories: Coconut Grove Real Estate
There are 216 single family homes currently on the market in Coconut Grove. This number is slightly down from a year ago when we had 230 single family homes on the market.
Here is a breakdown of the single family homes for sale in Coconut Grove:
- 28 single family homes listed above $2,000,000
- 61 single family homes listed between $1,000,000 and $2,000,000
- 127 single family homes listed under $1,000,000 (58 of these are in the West Grove)
There are 48 single family homes currently under contract:
- 1 is listed above $2,000,000
- 9 are listed between $1,000,000 – $2,000,000
- 38 are listed below $1,000,000
- 21 of the pending sales are short sales
- 6 of the pending sales are foreclosures (majority of these are in the West Grove)
There have been 85 single family homes sold in 2010:
- 4 sales are above $2,000,000
- 16 sales are between $1,000,000 and $2,000,000
- 65 sales are below $1,000,000
In my opinion, we are seeing an increase in prices for certain segments of the Coconut Grove market (specifically, move-in ready houses). Inventory levels remain relatively high which means that some buyers will continue to drag their feet as they search for the “perfect” house.
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If you are interested in buying or selling real estate in Coconut Grove and are looking for an experienced realtor please do not hesitate to contact me. I can be reached on my cell phone anytime at 305.342.1623 or you can send me a message here.
To stay updated with all Coconut Grove real estate information, receive my blog posts via email by subscribing here. Once you register, you must activate the subscription in a followup email.
Need Dock Space? Check Out Coconut Grove’s Waterfront Homes
August 24th, 2010 | categories: Buying Real Estate in Coconut Grove
What better place to park that sport fisherman than right outside your own home. Coconut Grove’s waterfront homes offer breathtaking views of Biscayne Bay and Key Biscayne but some buyers are not only interested in the views, they also need a home with plenty of water frontage to dock their boat.
Current Waterfront Homes For Sale In Coconut Grove
As of today, there are 17 waterfront homes for sale in Coconut Grove. The water frontage of these homes varies from 50′ to 500′. The least expensive property is priced at $1,995,000 (20,000 square foot lot basically selling for land value). Click here to view all of the waterfront homes for sale in Coconut Grove.
2010 Waterfront Homes Sold In Coconut Grove
This year there have been 3 waterfront homes to sell. The first was located at 1910 South Bayshore Lane and sold for $6,750,000. The second was located at 3581 Crystal View Court (Carlos Boozer’s former house) and sold for $5,500,000. The final one sold for 3528 Bayshore Villas Drive sold for $3,400,000. The average selling price per square foot of these homes was $651.00 per square foot.
If you are interested in buying or selling real estate in Coconut Grove and are looking for an experienced realtor please do not hesitate to contact me. I can be reached on my cell phone anytime at 305.342.1623 or you can send me a message here.
To stay updated with all Coconut Grove real estate information, receive my blog posts via email by subscribing here. Once you register, you must activate the subscription in a followup email.
Sold: 3679 Frantz Road
August 23rd, 2010 | categories: What Is Selling In Coconut Grove Real Estate?
Congratulations to my buyers who closed today on this home located at 3679 Frantz Road in South Coconut Grove. We put the property under contract on August 10th and were able to get it closed in less than 2 weeks. It was a lovely Old Spanish house with 4,213 square feet of living space on a 9,600 square foot lot. It featured 7 bedrooms and 5 baths. The selling price was $1,200,000 ($284 per square foot).
This house is another example of why you need to price your home correctly, it was listed within 10% of its market value and sold in less than a month.
If you are interested in buying or selling real estate in Coconut Grove and are looking for an experienced realtor please do not hesitate to contact me. I can be reached on my cell phone anytime at 305.342.1623 or you can send me a message here.
To stay updated with all Coconut Grove real estate information, receive my blog posts via email by subscribing here. Once you register, you must activate the subscription in a followup email.
Yes Inventory In Miami Is Up, But So Are Sales
August 23rd, 2010 | categories: Coconut Grove Real Estate
Recently Ron Shuffield President of EWM Realtors Inc. was featured on The Miami Herald’s Business Show. Here is a quick recap of his discussion:
- In the months of June and July, Miami saw a slight uptick in the amount of homes for sale (single family up by 3%, condos up by 1.7%). This was the first increase in inventory we have seen in 2 years. Those increases are due to new foreclosures that are hitting the market. Although the number of foreclosures being filed are down, the number that are now hitting the market are up.
- The good news is that sales are also on the rise in Miami. Since the summer of 2008 (when the rebound of the market officially began) we have seen sales double in both the single family market and the condo market.
- In the luxury market ($1,000,000+) Miami has seen an increase by 30% in single family home sales and an 85% increase in condominium sales.
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If you are interested in buying or selling real estate in Coconut Grove and are looking for an experienced realtor please do not hesitate to contact me. I can be reached on my cell phone anytime at 305.342.1623 or you can send me a message here.
To stay updated with all Coconut Grove real estate information, receive my blog posts via email by subscribing here. Once you register, you must activate the subscription in a followup email.
Identical Strategy, Identical Outcomes
August 20th, 2010 | categories: Selling Real Estate in Coconut Grove
I am always preaching to my sellers that you have to price your house correctly from the beginning. If you don’t it is certain that it will sit on the market until it is priced closer to market value.
There were two Coconut Grove homes which sold today that couldn’t prove my point better. They came on the market at exactly the same time for a similar price, made almost the same price reductions, sat on the market for the same amount of time and sold for just about the same price. See the figures for both houses below.
The numbers tell the story.
If you are interested in buying or selling real estate in Coconut Grove and are looking for an experienced realtor please do not hesitate to contact me. I can be reached on my cell phone anytime at 305.342.1623 or you can send me a message here.
To stay updated with all Coconut Grove real estate information, receive my blog posts via email by subscribing here. Once you register, you must activate the subscription in a followup email.