Archive for June, 2011
Thank You Coconut Grove!
June 30th, 2011 | categories: Buying Real Estate in Coconut Grove, Grove News, Selling Real Estate in Coconut Grove
As the first half of 2011 comes to a close, I want to take a moment to thank all of my readers and clients for their continued support. I can’t tell you how many times people stop me in the street and say “Hey you’re Riley…I love your blog!”. I am thrilled to hear that residents are reading and enjoying the information I put out there. Whether I’m at Scotty’s Landing, Greenstreet or just walking through the Grove please never hesitate to stop and introduce yourself.
As of today, I have sold 1 home every 5 days since January 1st 2011. That is 26 closed sales and 8 currently under contract. Right now I have an inventory of 17 listings.
When buying or selling a home in Coconut Grove it is essential to use a local Realtor or better yet, a hyper-local realtor such as myself. I have the experience and the knowledge to help you with any of your real estate needs.
Thanks again, I am looking forward to a great finish to 2011!
Another Flip For Sale In Coconut Grove
June 29th, 2011 | categories: Short Sales And Foreclosures In Coconut Grove
This house located in Entrada Estates in the South Grove came on the market back in 2009 as a foreclosure and was purchased by investors for $620,000 (under $200 per sq. ft.). They have completely gutted and renovated the home and now put it back on the market at a list price of $2,495,000 (see photo below). This home has quite a history, prior to slipping into foreclosure in 2009, it sold for $1,270,000 back in 2005. This is just another example of the roller coaster ride our market has been on here in the Grove.
3690 Stewart Avenue Details:
- Located In Gated Community Of Entrada Estates
- 6,050 Square Feet Of Living Space
- 13,950 Square Foot Lot
- 5 Bedrooms, 6.5 Baths
- 2 Car Garage
- Listed by Barnes International Property Consulting
- List Price: $2,495,000
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 buying or selling a Coconut Grove home I would love the opportunity to work with you. Call me on my cell at 305.342.1623 or send me a message here.
2 Contemporary Homes Come On The Market In Coconut Grove
June 28th, 2011 | categories: Coconut Grove Real Estate
I am always tracking the modern/contemporary home market in Coconut Grove because I know that it is a very desirable segment for buyers these days. By definition, modern architecture is a simplification of form and creation of ornament from the structure and theme of the building. Some of the characteristics of modern homes are high ceilings, open living spaces, walls of glass and windows, and straight or angled lines as opposed to curved lines. One thing that is so great about modern architecture in Coconut Grove is that the floor to ceiling windows really let you appreciate the lush foliage that Coconut Grove has to offer.
The first modern home that recently came on the market is located in the South Grove. 3835 Kent Court (photo above) offers 6,350 square feet of living space on a 7,540 square foot lot with 5 bedrooms, 5.5 baths. I was in the home back in 2009 when it was on the market as an unapproved short sale, it has since sold and come back on the market. The home is ultra-modern with a spectacular 2,000 square foot rooftop terrace complete with hot tub, tv, misting fans and entertainment system. The home is listed by Geraldine Brodie of ReMax for $1,800,000. View more photos of 3835 Kent Court click here.
Another great modern home that has recently come on the market is 3553 Palmetto Avenue (photo above) in the South Grove listed by Jorge Fernandez of One Sotheby’s. The home is owned by a leading New York architect and offers many special features including teak and porcelain floors, a chefs kitchen with Miele appliances, as well as a master bedroom that overlooks the pool and lush foliage. The home offers 3 bedrooms, 2 baths with 3,118 square feet of living space on a 7,000 square foot lot and is listed at $1,325,000. View more photos of 3553 Palmetto Avenue here.
As far as recent closed sales of modern style homes in Coconut Grove we have 4051 Ensenada which was sold by Polly Schiff of Coldwell Banker and Kitty Roedel of Grove Properties. The home sold for $1,050,000 or $327 per square foot. For photos and information of this home click here.
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 buying or selling a Coconut Grove home I would love the opportunity to work with you. Call me on my cell at 305.342.1623 or send me a message here.
Back From The Islands
June 27th, 2011 | categories: Coconut Grove Real Estate
Sorry for the lack of postings last week but I was away on a much needed vacation to the islands. We were down in Nevis, a small island in the Caribbean in the northern part of the Lesser Antilles. It is pure paradise there and I highly recommend it for anyone wanting to get away from it all. More photos of our trip here.
This week on the blog I’ll be catching up on market activity while I was gone. Even though summer is in full swing, we had two open houses yesterday that were packed with buyers. This summer is supposed to be one of the busiest on record in South Florida, hopefully those predictions will hold true.
Just Listed – European Villa In South Coconut Grove
June 22nd, 2011 | categories: Coconut Grove Real Estate, New Listings in the Grove
I just listed one of the best quality new construction homes in Coconut Grove. The reason this home is so well done is that it was not a spec home, it was a custom built home and therefore offers many special features and finishes that other new constructions don’t have. You enter the home through a custom iron gate into a covered open air loggia and courtyard. A custom mahogany front door opens into large living spaces with volume ceilings. Every room has been carefully oriented to take advantage of the light as well as the massive oak trees.
The home offers 5 bedrooms (two identical master suites upstairs), an italian kitchen from Mia Cucina, smart home and green technology, impact windows and doors throughout, hardwood and tumbled marble floors, imported limestone, 8′ tall custom interior doors, designer chandeliers, imported Italian closets with dark walnut wardrobes and woven leather in the master suites, custom millwork plus much more.
Details of 3621 Le Jeune Road Include:
- 5 Bedrooms, 6 Baths (two master suites)
- 5,535 Square Feet Of Living Area
- 7,500 Square Foot Lot
- For More Photos Click Here
- Asking Price: $1,575,000
If you are interested in seeing this home I would be happy to arrange a showing for you. Please contact me at 305-342-1623 or send me a note here.
Homes For Under $500,000 In The Grove
June 20th, 2011 | categories: Coconut Grove Real Estate
The $500,000 and under market has been extremely active over the past few years, in fact there have already been 19 homes sold under $500,000 this year. Typically if you are looking in this segment you will find that most of them have that “Grove charm” that many people are looking for but many need some maintenance or renovation. There are several on the market right now that are worth checking out. See below:
3686 Loquat Avenue is in the South Grove exudes Coconut Grove character and charm. Listed for $449,000 by Chris Monge of ReMax with 3 bedrooms/2 baths and 1,480 square feet of living area. View more photos here.
4081 Barbarossa Avenue is also in the South Grove and has recently been renovated with a new kitchen, vaulted ceilings and wood floors . The home offers 3 bedrooms/2 baths with 1,498 square feet of living area and is priced at $499,000. Listed by Javier Gonzalez of ReMax. View more photos here.
3571 Linden Lane is new on the market and located just off of Kumquat Avenue in the South Grove. This house is owned and listed by my colleague Nerisse Trombetta and I know the house well. If you are looking for an adorable South Grove cottage then look no further. This place has charm at every turn and is surrounded by mangificent landscaping. It is also gated. The home is being listed for $499,000 and has 2 bedrooms with 2 baths on an 8,800 square foot lot. View more photos here.
When listing or buying a home it is essential to have a local Realtor who knows the market. If you are interested in buying or selling a Coconut Grove home I would love the opportunity to work with you. Call me on my cell at 305.342.1623 or send me a message here.
Coconut Grove Closed Sales Worth Mentioning
June 17th, 2011 | categories: Coconut Grove Real Estate
Below are a few homes that sold this week in Coconut Grove that are worth mentioning. The first is a single family home that went under contract in less than a month, and the second is a new construction townhouse my buyers purchased that is a great comparable for that segment of the market.
The home located at 3540 East Fairview Drive (I wrote about it here ”Coconut Grove’s Must See Homes“) went under contract in just 16 days. It closed this week for a sales price of $945,000 or $293.00 per square foot (it sold for 9% off of list price which is right on target for the Grove). The home had great outdoor living spaces and offered 3,223 square feet LA with 4 bedrooms/3.5 baths. This house is another good example that if you price your home right buyers will come….and quickly! The listing agent was Ashley Cusack of EWM.
The second property is 3268 Alamanda Street. We had the buyers for this Center Grove townhouse which was built in 2007 and offered 3 bedrooms, 2.5 baths, 2,000 square feet of living space and a pool. The sales price was $535,000 or $267.00 per square foot. This is the going rate for this type of townhouse in Center Grove and is more evidence that the Center Grove townhouse market is coming back to life and actually increasing in value.
When listing or buying a home it is essential to have a local Realtor who knows the market. If you are interested in buying or selling a Coconut Grove home I would love the opportunity to work with you. Call me on my cell at 305.342.1623 or send me a message here.
Prices Down 15% In Grove Isle, Coconut Grove
June 16th, 2011 | categories: Coconut Grove Condos
Grove Isle is a wonderful place for full time as well as part time residents. The amenities are great and the views are some of the best in Miami.
Taking a look at the overall real estate numbers in Grove Isle, I noticed that sale prices are down 15% since 2010. This year there have been a total of 8 condos sold with an average selling price per square foot of $275.00. The highest sale this year occurred for a double residence with over 5,000 square feet on the second floor which sold for $975,000. Last year there were a total of 22 sales, 4 of them selling for over $1,000,000.
Click here to view my recent video about life and real estate in Grove Isle, Coconut Grove.
Click here to view condos for sale in Grove Isle, Coconut Grove.
When listing or buying a home it is essential to have a local Realtor who knows the market. If you are interested in buying or selling a Coconut Grove home I would love the opportunity to work with you. Call me on my cell at 305.342.1623 or send me a message here.
You Sealed A Deal, Now Time For The Home Inspection!
June 15th, 2011 | categories: Buying Real Estate in Coconut Grove, Selling Real Estate in Coconut Grove
So you are officially under contract on your dream home in Coconut Grove. Now is when the real fun begins….it’s home inspection time! In 99% of transactions in South Florida you are buying a home “as-is” but you are given the opportunity to have the home inspected so that you can find out if there are issues not visually apparent with the home (structural, septic etc.). If the inspection report exceeds a specified number in the contract you can back out of the deal.
Some people don’t understand that the issues which turn up in a home inspection are not required to be fixed by the seller. All that being said, a buyer does have the opportunity to ask the seller to make repairs or renegotiate the sales price. Whether or not a seller agrees to make repairs or renegotiate depends solely on their situation. Most of the time, both parties are reasonable and can come to some type of agreement.
Some inspectors put maintenance items on their report which could include tree trimming, replacing light bulbs, pressure washing, painting etc. Except in very rare circumstances, sellers will not agree to this type of work during the renegotiations.
Keep in mind that if you are the seller and the buyer shows the inspection report to you, you are now obligated to disclose these items to any potential buyer. This can put many sellers in a very uncomfortable situation, especially if they disagree with the inspector’s report.
The home inspection process can be a very contentious time during the transaction. It is important to keep your ultimate goal in mind, which is getting the home sold!
When listing or buying a home it is essential to have a local Realtor who knows the market. If you are interested in buying or selling a Coconut Grove home I would love the opportunity to work with you. Call me on my cell at 305.342.1623 or send me a message here.
Just Listed In North Coconut Grove!
June 14th, 2011 | categories: Coconut Grove Real Estate, New Listings in the Grove
I recently listed this great house on Crystal Court in North Coconut Grove. It is a 1940’s bungalow that has been renovated with extreme attention to detail. The home offers a designer kitchen with custom cabinets, Anderson impact windows and doors, custom moldings, priceless terrazo floors, new master bath, fireplace and formal dining and wet bar. There is a charming covered screened porch located just off the kitchen which is perfect for outdoor entertaining or enjoying a quiet dinner.
My favorite part of most Grove homes is the lush landscaping and this particular home is a tropical oasis with rare specimen trees and plants.
View more photos of the home here. We will be holding an Open House at the property this Wednesday (June 15th) from 12:00 to 2:00 if you would like to stop by!
When listing or buying a home it is essential to have a local Realtor who knows the market. If you are interested in buying or selling a Coconut Grove home I would love the opportunity to work with you. Call me on my cell at 305.342.1623 or send me a message here.