Archive for the 'Coconut Grove Real Estate' Category
3323 Devon Road Now For Rent
September 1st, 2010 categories: Coconut Grove Real Estate
I wrote about the above house (located in the exclusive gated community of Hughes Cove) when it first came on the market back in April of 2009. The home was priced at $3,750,000 and was listed for sale for over a year before they decided to take it off the market. The owners have now decided to rent the property, asking price is $16,500 a month. Listing broker is One Sotheby’s.
If you want to live in an extremely private location with gated, manned security 24 hours a day then this may be the spot for you. There has not been a single sale or rental in Hughes Cove since 2008.
To view a list of all rental homes in Coconut Grove, 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. 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, 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.
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Check Out Our New Look In Today’s Miami Herald
August 29th, 2010 categories: Coconut Grove Real Estate
Neighbor’s Section, Miami Herald
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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.
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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.
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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.
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Two Closings This Week!
August 11th, 2010 categories: Coconut Grove Real Estate
Two of my North Coconut Grove listings closed this week. The first was located at 1669 Onaway Drive. The home sold for $515,000 (asking price $570,000). The house had 3 bedrooms and 1 bath in the main house, a pool, a guest cottage, 1,841 square feet of living space on 8,400 square foot lot.
The second house that closed was located at 3150 Freeman Street. The home sold for $550,000 (asking price $585,000). The house featured 2 bedrooms, 2 baths, pool, 1,741 square feet of living space on a 10,000 square foot lot. The bank did its best to drive my sellers crazy in this transaction. They performed 3 appraisals (I have heard of 2, but never 3) and requested countless extensions. In the end it all worked out and the buyers were able to close the deal.
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.
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Coconut Grove New Construction Market
August 6th, 2010 categories: Coconut Grove Real Estate
A new construction home recently closed on Woodridge Road in the South Grove for $1,500,000 which is $299.00 a foot. This sale was in line with the other new construction sales we’ve seen this year. I took some extra photographs of the Woodridge house awhile back for some out of town clients who were interested in purchasing the property. To view click here. It is a very typical new construction home and will give you a good idea of what you can purchase for $1,500,000 in this market.
There have now been 4 new construction sales in Coconut Grove in 2010.
The other 3 were:
- 4191 El Prado Boulevard which sold for $1,200,000 or $300.00 a foot.
- 4161 Park Avenue sold for $1,290,000 or $293.00 a foot.
- 4050 Hardie Avenue which sold for $950,000 or $316.00 a foot - this was a contemporary style home and likely the reason for the higher value.
Here is a list of new construction homes that are still on the market in Coconut Grove. The average list price per square foot of these homes is $496.00.
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.
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Relocating To Coconut Grove?
August 5th, 2010 categories: Coconut Grove Real Estate
Due to our blog, we are contacted on a weekly basis by out of town buyers looking to relocate to Coconut Grove. Over the years, I have taken out countless buyers for tours of Coconut Grove, Coral Gables and South Miami. I love where I live and I am happy to show it off.
Our team helps to make the relocation process smooth and stress free. Prior to your initial visit we will discuss the type of home or condo that suits your individual needs. We will email you photos and information of properties on the market that fit your criteria. You will then choose several of these homes to view upon your arrival. Myself, or a member of my team will block off a portion of our day to give you a general tour of the area and show you the homes that you have selected.
You will certainly leave here with a good feeling for the area and what is available in your price range. We will continue to be in touch after your departure regarding any new homes that come on the market that you may be interested in and any questions that you may have about the area.
If you are relocating to Coconut Grove and looking for a local, experienced realtor please give me a call on my cell 305.342.1623 as I would love the opportunity to work with you.
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Can MLS Photos Be TOO Good?
August 2nd, 2010 categories: Coconut Grove Real Estate
As Realtors, it is our job to paint a home in its best light, to take the best photos we can, and to try to play up the positive features of a home while downplaying the negative ones. But in my 10+ years experience as an agent, I have come across many properties where the photos on the MLS are SO good and SO eyecatching that they cause the buyers to be disappointed when they see the home in person.
There is one house in particular in Coconut Grove that is priced under $400,000 which has some incredible pictures. Every buyer in this price range wants to see that house, and I tell all of them that the pictures are very deceiving yet they still want to see it. Once inside, they cannot get out fast enough. It is too bad for the sellers because they have lowered the price to a point where it is actually a good deal – but buyers walking into it are expecting so much more. The house has been on the market for over a year.
The other side of that argument is that if the photos are fantastic, it will cause more showings of the home and therefore more exposure and chances to sell. I guess it is a fine line between making a home stand out against the competition but not getting carried away with tricky camera angles and deceiving lighting.
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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