Archive for March, 2011
Good News/Bad News In Coconut Grove Real Estate
March 31st, 2011 | categories: Coconut Grove Real Estate
I’ll give you the good news first. The good news is that the Grove is taking a breather from several of the short sales and foreclosures that were sold during the months of January and February. Of the 15 single family home sales in March, only 3 were distressed. The bad news is that there were so many distressed sales in January and February that our average price per square foot fell significantly to $257.00 psf (down from $280.00 psf last year). When you take out all of these distressed sales the average price per square foot is a solid $287.00.
I continue to see and experience that despite those distressed sales the regular homes are holding their values and not being affected too badly. Most segments of the market have several good comparables to use regardless of some of the lower prices that are out there.
When listing or buying a home it is essential to have a local Realtor who knows the numbers, tracks the market and can value a home correctly. If you are interested in selling your home I would be happy to give you a no pressure home valuation. Call me on my cell at 305.342.1623 or send me a message here.
Good Comparable For The North Grove
March 30th, 2011 | categories: What Is Selling In Coconut Grove Real Estate?
For anybody who has a home priced under $500,000 in the North Grove, a great comparable just came across my desk. The house is located at 2444 SW 28th Street and closed for $359.00 per square foot. It was a 2 bedroom, 1 bath home with 1,000 square feet. The house was listed for $374,000 and closed for $359,000. Listing Broker was Jack Keller.
If you are interested in buying or selling real estate in Coconut Grove and are looking for an experienced real estate agent please do not hesitate to contact me at 305.342.1623 or 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.
Grove Garden Foreclosure Hit The Market Today
March 30th, 2011 | categories: Short Sales And Foreclosures In Coconut Grove
A penthouse unit came on the market today in Grove Garden as a foreclosure, priced at $317,700. The unit features 1,773 square feet of living space with 2 bedrooms/2.5 baths and 1 parking space. The last two bedroom unit that closed in the building was on the third floor, offered slightly less square footage (1,541 sq. ft.) and sold for $305,000. The property is listed by Jeanne Baker.
If you are interested in seeing this unit, please contact me I would be happy to schedule a showing and give you my analysis on its value.
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 Numbers Speak For Themselves!
March 29th, 2011 | categories: Selling Real Estate in Coconut Grove
Taking a look at my boards this morning, I can’t recall a busier month in Coconut Grove real estate. There were an astonishing 46 properties (including single family, condos & townhouses) that went under contract in the month of March. 36 of the 46 properties that went pending were priced under $600,000 which shows you where our most active buyers are right now in the Grove.
Here is a sample of some of March’s pending sales:
PENDING 4080 Douglas Road | 6,796 Square Feet Of Living Space | 39,400 Square Foot Lot | 5 Bedrooms/4 Baths | List Price: $3,450,000 | Listed by Rex Hamilton Corp.
PENDING 3094 New York Street | 2,706 Square Feet Of Living Space | 4 Bedrooms/3 Baths | List Price: $475,000 | Listed by Riley Smith
PENDING 2520 Swanson Avenue | 1,860 Square Feet Of Living Space | 3 Bedrooms/2 Baths | List Price: $599,000 | Listed by Riley Smith
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 at 305.342.1623 or 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.
I May Already Have A Buyer For Your Coconut Grove Home
March 28th, 2011 | categories: Coconut Grove Real Estate
At any given time my team is working with 15 to 20 buyers in the Coconut Grove area. Therefore, when I go on a listing appointment for a house in the Grove it is only bound to happen that occassionally I have a buyer who is a perfect fit for that home. This has happened twice in the past month in the North Grove. I walk in the door, meet the sellers, give them my presentation and then I bring the buyers in the next day and have an offer for the sellers shortly thereafter. One of the homes never even hit the MLS.
When listing or buying a home it is essential to have a local Realtor who knows the numbers, tracks the market and can value a home correctly. If you are interested in selling your home I would be happy to give you a no pressure home valuation. Call me on my cell at 305.342.1623 or send me a message here.
Congratulations Top Producers!
March 27th, 2011 | categories: Coconut Grove Real Estate, Grove News
Congratulations to all of my EWM colleagues who made the Chairman’s Club Membership, top 1/2 of 1% realtors nationally. And for a little self promotion, once again I was the top selling agent at EWM’s Coconut Grove office.
As seen in the Miami Herald today…..
Grovenor House Coconut Grove, Market Update
March 25th, 2011 | categories: Coconut Grove Condos
Surprisingly there has only been 1 sale in The Grovenor House all year (last year there were 18 sales in the building). The unit that sold this year offerred 4,026 square feet of living space with 5 bedrooms/5.5 baths and bay views. The asking price was $3,200,000 and the sale price was $2,700,000 (or $670 per square foot).
There are currently 17 on the market with half offering bay views and the other half offering city views. None of the units currently for sale are in distress. Maintenance fees in The Grovenor House depend on the size of each unit but range from $1,000 all the way up to $5,000 per month. To view a list of what is on the market right now in The Grovenor House click here.
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 at 305.342.1623 or 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.
Looking For Dock Spaces In Coconut Grove?
March 24th, 2011 | categories: Coconut Grove Real Estate
Even though spring has just begun the temperatures in Miami are heating up and giving me the itch to get out on my boat. So on that note today’s post is about property in Coconut Grove with space to dock your boat.
As far as condominiums go, Grove Isle is the only condo that has boat slips available for lease and purchase. View the dock spaces available for purchase in Grove Isle here. In the single family home market, you can go with a home with direct bay views or one that is located on one of our canals or waterways. We also have several waterfront lots available if you are interested in building your dream home. Below is a sample of what is available.
3501 Anchorage Way | 15,386 Square Foot Lot | 10,832 Square Foot Living Area | 7 Bedrooms/8 Baths | List Price: $8,950,000 | Broker: Avatar | More Photos And Information Here.
3591 Rockerman Road (photo above) | 15,917 square foot lot | Thanks to Miami 21, there is a proposed replat creating the potential for two villas on this property. | Permits and Plans are In Place For Dock Space and Boat Lifts. | List Price: $3,750,000 | Agent: Chris Zoller of EWM Realtors, Inc. | Click For Photos And Information
1702 South Bayshore Drive (photo above) | 20,000 square foot lot | 3,867 square foot living area | 5 bedrooms/3 baths | 100 foot seawall | Broker: Morgan Whitney | More Photos And Information Here.
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 at 305.342.1623 or 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.
Finally…New Law Helps Keep Home Inspectors In Check
March 23rd, 2011 | categories: Coconut Grove Real Estate
I can’t tell you how many times I have had a home inspector come out to do the inspection and then offer to do the repairs after he delivers the report. I even had a case where the inspector told the client the roof needed completely replaced and then called my office every day for a week asking if he could do the job. If that isn’t a conflict then I don’t know what is! Think about the potential for an inspector to hike up the repairs and exaggerate the report in hopes that they get the job afterwards.
Whenever possible I am able to recommend a reputable, reliable company however sometimes buyers insist on finding their own.
Finally the DBPR has passed a law which will go into effect on July 1, 2011 which states that a home inspector or a home inspection company may not perform repairs on the home from the time of the home inspection until closing. This prevents the home inspector and home inspection company from repairing or offering to repair a home that they inspected. The law for mold assessors and remediators is similar in that a mold assessor may not do any remediation on the property for one year after the assessment was performed. This law was long overdue!
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 at 305.342.1623 or 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.
Another Home Sold In Coconut Grove!
March 22nd, 2011 | categories: Selling Real Estate in Coconut Grove
My listing in the South Grove located at 3605 Battersea Road just closed for $730,000. This was a 3 bedroom/3 bath with 2,855 square feet of living space on a 10,500 square foot lot. Congratulations to the new buyers!