Archive for September, 2011
Best Deal In A Coconut Grove Gated Community
September 30th, 2011 | categories: Coconut Grove Gated Communities
Above is a spreadsheet of all of the single family homes that are for sale in gated communities in Coconut Grove. As you can see, the home that I have listed in Ye Little Wood at 3811 Wood Avenue is by far the lowest “price per square foot” of all of the homes. This home offers many special features including a grand winding staircase, vaulted white wood ceilings, travertine and wood floors, custom cabinetry, impact windows and french doors as well as a full guest suite with bedroom, bath, kitchen and fireplace. The home also offers a separate maids quarters/exercise room. Click here for a photo tour of the property.
Ye Little Wood is located in the south Grove just steps from the Grove village center, and includes 33 single family homes nestled along a winding tree lined street. Interested in more information on Ye Little Wood, here is a link to the community’s association website.
The Real Estate Coconut is the most comprehensive online source for Coconut Grove real estate information. Whether you are looking for the latest sales, trends or homes for sale in Coconut Grove, The Real Estate Coconut has it all at your fingertips. Browse Coconut Grove’s gated communities, waterfront homes, villas, townhouses, foreclosures plus much more.
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.
Coconut Grove Real Estate Fall Newsletter
September 29th, 2011 | categories: Coconut Grove Real Estate, Coconut Grove Real Estate Market Conditions
Below is my Coconut Grove Real Estate Newsletter for the Fall of 2011. Click on the image for some interesting statistics on the real estate market here in Coconut Grove.
If you are having trouble accessing the below image, click here to open the newsletter.
Diversion Today For A Special Home | 4320 Santa Maria Street
September 28th, 2011 | categories: Coconut Grove Real Estate
If you read my blog The Real Estate Coconut you know that I stick strictly to Coconut Grove Real Estate on a daily basis. But today, I have listed such a special and historical home in Coral Gables that I have to make a diversion. This home is located on the highly sought after and tree lined Santa Maria Street and offers sweeping views of the Riviera Golf Course. It is one of the original George Merrick Pioneer Village homes and has been extensively restored in 2008 to include exquisite built-in cabinetry, a slate roof, luxurious master suite as well as a garage apartment and whole house generator. The home offers 5 bedrooms, 4.5 baths with 6,146 square feet of living space on a 16,875 square foot lot. For more information visit www.4320santamaria.com
If you are interested in more details of this home, call me on my direct line at 305-342-1623.
Important Sale In Center Coconut Grove
September 27th, 2011 | categories: Coconut Grove Townhouses
I mentioned last week that there had not been a townhouse sale over $500,000 in Center Coconut Grove in the past 3 months. Thankfully, one just came across the wire on Gifford Lane for $517,500 with a price per square foot of $219.00. A $500,000+ sale will help with values in the Center Grove however we still have to get the price/square foot figures up this year before we can start to see an increase in prices. 3130 Gifford Lane offered 2,354 square feet of living space with 3 bedrooms, 2.5 baths and a pool. To view photos click here. The townhouse was listed by Ivory Cooks of Coldwell Banker.
The Real Estate Coconut is the most comprehensive online source for Coconut Grove real estate information. Whether you are looking for the latest sales, trends or homes for sale in Coconut Grove, The Real Estate Coconut has it all at your fingertips. Browse Coconut Grove’s gated communities, waterfront homes, villas, townhouses, foreclosures plus much more.
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.
Are Buyers Turned Away By Stale Listings?
September 26th, 2011 | categories: Coconut Grove Real Estate, Selling Real Estate in Coconut Grove
A big concern of sellers is not allowing their home to sit on the market for a long time where it could be perceived as undesirable or stale. In my experience a high “days on the market” number does not attract low offers or detract good buyers. However a high number of days on the market is usually an indication that a price reduction is necessary.
Case in point is a listing I currently have in the North Grove. If there was ever a perception of a “stale” property than this was it. I have shown this house to every realtor in town at least 3 times since we put it on the market exactly 2 years ago. We received 3 good offers over the years which my clients declined. Time after time I begged, pleaded and presented them with all of the facts as to why they needed to lower the price but it just never seemed to sink in. A few weeks ago after another discussion on price they finally took my advice and we decided that lowering the price from $639,000 to $575,000 would show buyers that their house was now more in tune with the market. A few days later we had two offers from two different buyers in our hands. One of them was willing to come all the way up to my seller’s desired number and we are now on our way to inspections. The myth of the “stale home” has officially been debunked!
If you are curious about the true value of your home in today’s market then please feel free to give me a call for a no pressure home valuation. I can be contacted directly at 305-342-1623 or you can send me a note here with your phone number and address.
Coconut Grove Sunday Open Houses
September 23rd, 2011 | categories: Coconut Grove Real Estate
Come out this weekend and preview some great Coconut Grove homes!
1:00 pm – 2:30 pm | 3621 Le Jeune Road, Coconut Grove
5 Bedrooms, 6 Baths
5,535 Sq. Ft. LA | 7,500 Sq. Ft. Lot
List Price: $1,575,000 More Photos Here
2:30 pm – 4:00 pm | 3811 Wood Avenue, Gated Community of Ye Little Wood
6 Bedrooms, 6 Baths, 2 Half Baths
7,286 Sq. Ft. LA | 19,500 Sq. Ft. Lot
List Price: $2,200,000 More Photos Here
Appraisers Continue To Come From Out Of Town
September 23rd, 2011 | categories: Coconut Grove Real Estate
I got a call yesterday from an appraiser who had some questions about a recent sold listing I had which he wanted to use as a comparable on his report. He started out asking about the condition of the home and why it sold for that particular price, but as we continued to talk he started asking me about the neighborhood and for my advice on whether or not the home he is appraising sat in a less/more desirable area. He then went on to tell me that he was from Ft. Lauderdale and was completely unfamiliar with the area.
I didn’t mind giving him a short explanation about what areas tend to garner higher or lower values and I feel that after our conversation he had a good handle on the comparables. However it does concern me when appraisers come into Coconut Grove from out of town and have the potential to kill the deal based on their lack of knowledge.
As a side note, I personally have had a very good run of my properties appraising and as a whole I do believe the system is getting better.
How Long Will Our Reprieve Last? Should You Sell Now?
September 22nd, 2011 | categories: Coconut Grove Real Estate, Selling Real Estate in Coconut Grove
According to the Miami Herald this morning the foreclosure lag has spurred home prices in South Florida. If you read my blog you know that here in Coconut Grove we have certainly seen home values stabilize and even increase in some segments of the market over the past year. At the same time we have also experienced a slowdown in the number of foreclosures. The question is, are we headed for a full recovery or will the foreclosures that banks are holding onto bring our market down again?
For quite awhile banks stopped releasing foreclosures to the public because they were taking heat for robo-signing and cutting corners in the court system, but eventually the buildup of foreclosures on their books will have to come to the market.
I ran the numbers on Realist today and it shows that there are a shocking 100+ single family homes in Coconut Grove that are in pre-foreclosure or foreclosure. The term “pre-foreclosure” typically means that the owners are 60+ days late on their mortgage payment. Yes, pre-foreclosure is the first step in the foreclosure process however it does not necessarily mean that the property will become bank-owned. There is likely a large portion of these properties that are in the process of getting a loan modification or are working on a short sale. It is inevitable however that a percentage of these homes will come to the market eventually as bank owned and that the banks will begin to release the foreclosures they have been holding onto. Our market here in Coconut Grove is so small that even a handful of foreclosures could potentially have a large impact on home values.
I don’t like to be an alarmist or doomsdayer, but if you are considering placing your home for sale it may be a good time to list now while values are stable.
The Real Estate Coconut is the most comprehensive online source for Coconut Grove real estate information. Whether you are looking for the latest sales, trends or homes for sale in Coconut Grove, The Real Estate Coconut has it all at your fingertips. Browse Coconut Grove’s gated communities, waterfront homes, villas, townhouses, foreclosures plus much more.
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.
Real Estate Market Update: Townhouses In Center Grove
September 21st, 2011 | categories: Coconut Grove Townhouses
There have been approximately 11 townhouses sold in the Center Grove in the past 3 months. Depending on location, condition and age the sales have ranged from $260,000 (a short sale) all the way up to $475,000. I know many of the townhouse owners in Center Grove have been very frustrated about the state of the market and the loss in value since the boom and this segment has certainly been one of the slowest to recover.
In the past 3 months we have not seen a sale over $500,000 or $221.00 per square foot for any of the newer construction 3 bedroom townhouses. Last year there were almost 10 sales over $500,000 in the Center Grove with the highest “sale price per square foot” coming in at $311.00 for a townhouse on Peachy Street.
Just when it seemed that things were looking up for the Center Grove market it seems that the area has taken a step backwards. This is bad news for sellers but presents an opportunity for buyers to get in before the window closes.
To view a list of townhouses for sale in Center Grove please click here.
The Real Estate Coconut is the most comprehensive online source for Coconut Grove real estate information. Whether you are looking for the latest sales, trends or homes for sale in Coconut Grove, The Real Estate Coconut has it all at your fingertips. Browse Coconut Grove’s gated communities, waterfront homes, villas, townhouses, foreclosures plus much more.
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.
Coconut Grove Homes Designed By Modernist Alfred Browning Parker
September 20th, 2011 | categories: Coconut Grove Real Estate
Yesterday an article was posted on NBCMiami.com about some iconic architects here in Miami. Alfred Browning Parker was mentioned at great length, as were some of the homes he designed here in Coconut Grove. One of the homes featured in the article was Woodsong which is located at 3003 Seminole Street in the north Grove, just a few houses down from the house I grew up in.
For those of you who like his modern, organic style architecture there is currently one Alfred Browning Parker home for sale in Coconut Grove. It is located at 4195 Park Avenue, see photo above. This home offers 1,072 square feet of living space with 2 bedrooms + office and 1 bath. The landscaping on this property is spectacular, designed by Eduardo Bilbao it features rare specimen palms and bamboo plants. For more photos and information of 4195 Park Avenue, click here. The home is listed by Sean Reichert of Grove Properties.
To view a list of other contemporary style homes for sale in Coconut Grove, click here.
The Real Estate Coconut is the most comprehensive online source for Coconut Grove real estate information. Whether you are looking for the latest sales, trends or homes for sale in Coconut Grove, The Real Estate Coconut has it all at your fingertips. Browse Coconut Grove’s gated communities, waterfront homes, villas, townhouses, foreclosures plus much more.
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.