Archive for the 'Buying Real Estate in Coconut Grove' Category
Unapproved Short Sale In The Cloisters Is Back On The Market
September 1st, 2010 categories: Buying Real Estate in Coconut Grove, Gated Communities
An unapproved short sale in The Cloisters came back on the market today at a new price of $1,000,000. To view photos and information click here. If you could get this unit for under $1,000,000 it would be the lowest priced sale all year.
Other 2010 sales in The Cloisters include:
- Unit 1136 for $1,295,000
- Unit 1033 for $1,475,000
- Unit 414 for $1,400,000
- Unit 102 for $1,198,500
I have handled many short sale transactions for my clients and know the ins and outs of the process. If you are interested in viewing this property or any others in Coconut Grove please don’t hesitate to contact me at 305.342.1623 or send me a message here.
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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.
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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.
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Coconut Grove Foreclosure Market
August 4th, 2010 categories: Buying Real Estate in Coconut Grove
Single Family Coconut Grove Foreclosures
The foreclosure market of single family homes in Coconut Grove has been fairly slow. There are only 3 foreclosures currently on the market in the North and South Grove areas (Battersea Road, Anne Court and SW 27th Terrace). The home on SW 27th Terrace is worth checking out, it is completely updated.
In the West Grove we have about 6 for sale (to view click here).
Condo/Townhouse Foreclsoures In Coconut Grove
Most of the foreclosure properties in Coconut Grove are located in the smaller condominium buildings such as Virginia Pointe, Mayfair, Grove Square, Dixie Grove and Cocostyle. To view a list of these properties click here.
If you are interested in buying or selling real estate in Coconut Grove and are looking for an experienced 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.
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Waterfront Land In Coconut Grove
July 27th, 2010 categories: Buying Real Estate in Coconut Grove
I just listed a piece of waterfront land located at 1835 Fairhaven Place. The asking price is $900,000 making it the least expensive waterfront lot on the market in Coconut Grove (there are a total of 6 for sale). This property is located on one of the waterways behind Grove Isle (see photo above). The lot size is 6,250 square feet and has ocean access with no bridges to the Bay.
To see a list of all of the waterfront land for sale in Coconut Grove please click here.
If you are looking for non-waterfront land, click here to see what is available.
f you are interested in buying or selling real estate in Coconut Grove and are looking for an experienced 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.
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What’s Worse Than A Second Mortgage On A Short Sale?
July 15th, 2010 categories: Buying Real Estate in Coconut Grove
Not finding out about the second mortgage until after the first mortgage holder has approved the sale.
Then you are left with this scenario: while waiting for the second mortgage holder to approve the short sale, the approval that the first mortgage holder gave expired. Then while waiting for the re-approval by the first mortgage holder, the second mortgage holder approval expires, and on and on and on we go.
1 year and counting……
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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.
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Land In South Grove Sells For $23.00 A Foot
May 20th, 2010 categories: Buying Real Estate in Coconut Grove
The 18,125 square foot lot located at 3850 Plaza Street in the South Grove closed recently for $425,000. That is $23.00 per square foot and is slightly below market value (which is about $30.00 a foot for non-waterfront, non-gated land). This sale just reinforces what I have been telling my investors which is that the best buys right now are found in the residential land market.
Need proof ? Check out these Coconut Grove land sales from years past:
- 1848 Opechee Drive, 11,393 square foot lot, sold for $789,000 in 2006 ($69.00 a foot)
- 4169 Ventura Avenue, 12,100 square foot lot, sold for $1,085,000 in 2006 ($89.00 a foot)
- 4061 Woodridge Road, 9,380 square foot lot, sold for $600,000 in 2006 ($63.00 a foot)
- 4044 Malaga Avenue, 15,375 square foot lot, sold for $960,000 in 2007 ($62.00 a foot)
- 1760 Chucunantah Road (see note below), 11,700 square foot lot, sold for $720,000 in 2007 ($61.00 a foot)
**The owners of 1760 Chucunantah Road above have recently decided not to build and have listed the property with me – we are currently asking only $499,000. It is a great lot on a quiet street in North Grove. If you would like more information on the property or would like to submit an offer, please give me a call at 305.342.1623.
If you are interested in buying land in Coconut Grove and would like to work with a local specialist, please contact me here.
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Need A Last Minute Gift For Mother’s Day?
May 7th, 2010 categories: Buying Real Estate in Coconut Grove
Why not draw up a contract for this one of a kind home in De Garmo Estates? The pefect gift for any mother! This is a 1921 Spanish villa that has been completely restored to perfection. The home offers 7,761 square feet of living space on a 19,770 square foot lot. It has beeen featured in many architectural and design books and publications. Special details include a central courtyard, fountains, gorgeous kitchen, waterfalls and grotto.
This estate is located at 3701 De Garmo Lane and is currently priced at $3,250,000. For more photos and information of the property, click here.
The home is listed by Laura Mullaney of Coldwell Banker. If you would like to schedule a showing to view this home or any others in Coconut Grove please don’t hesitate to contact me at 305.342.1623 or send me a message here.
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Good News From James Venney, 5% Down Conventional Financing
April 27th, 2010 categories: Buying Real Estate in Coconut Grove
James Venney of Gibraltar Private Bank announced today on his website Juicy Estates that he is offering conventional financing with just 5% down. Why is this better than FHA? With FHA financing you have to pay 2 1/4 up front costs towards your mortgage plus a monthly fee. In conventional, you could use that 2 1/4 towards your down payment. Why give that money to the bank when you could use it towards your home?
If you are interested in discussing your loan options with James you can reach him via email at jvenney@gibraltarprivate.com or on his phone at 305.476.5539. Don’t forget to mention that The Coconut sent you!
Visited my other blogs lately? Here are some recent posts:
- Are You Cheating On Your Realtor? www.SouthMiamiRealEstateBlog.com
- The “Piazza” Coconut Grove Town Photos
- New Construction in Coral Gables www.CoralGablesRealEstateVault.com
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