The Real Estate Coconut » What is selling in Coconut Grove?

Recent Happenings In The Coconut Grove Real Estate Market

rileysmith — Tue, 09 Mar 2010 15:04:59 +0000

The property above located at 3528 Bayshore Villas Drive priced at $3,950,000 went under contract yesterday. This is good news for the luxury home market in Coconut Grove which has been extremely slow recently. The property is listed by Engel and Voelkers.

The property above located at 3825 Poinciana Avenue in South Coconut Grove finally sold after 40, yes 40 months on the market. A classic example of sellers chasing the market. Originally priced at $1,749,000, the sellers made 11 price reductions and finally sold for $780,000. Broker was Ingletto Realty Group.

I had the buyer and the seller for the townhouse located at 3055 Virginia Street (pictured above) which closed last week. It was a short sale and required an extreme amount of patience by all parties. The selling price was $260,000.

I had the buyer for another townhouse that closed last week. The property is located in one of my favorite spots in Center Grove – The Arboretum. The address is 3153 Peachy Street and the sales price was $475,000.

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If you are interested in buying or selling real estate in Coconut Grove and are looking for a Grove specialist, please contact me at 305.342.1623 or send me a note here.

First 2010 Coconut Grove Home To Close For Over $1,000,000

rileysmith — Fri, 05 Mar 2010 15:00:41 +0000

There are 90 single family homes in Coconut Grove priced over $1,000,000 and we have just seen the first home sell in that price range in 2010. The home is located in North Coconut Grove at 2990 Emathla Street. I showed the house a few times to my clients and it was a beautiful home with a great floor plan. Listed at $1,800,000, the house closed for $1,665,000 ($389.00 per square foot) which is a great price for this one of a kind property.

Listed by Coldwell Banker.

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 follow-up email.

If you are interested in buying or selling real estate in Coconut Grove and are looking for a Grove specialist, please contact me at 305.342.1623 or send me a note here.

Recent Pending Properties…The Numbers Speak For Themselves

rileysmith — Wed, 24 Feb 2010 15:23:35 +0000

For those of you who know me I am not the “car salesman” type of Realtor. I don’t try to push people into selling or buying. I do however try to educate my clients and provide them with the benefit of my knowledge and experience.

Sometimes (like now) the numbers speak for themselves. I have put 11 properties under contract for my clients during the month of February. This reaffirms my belief that if you are interested in selling your house, now is the time. Price it right, get it on the market, and it will sell. Don’t wait until the summer doldrums set in when everyone goes out of town (including the buyers).

Pending Sales Since 2/10/2010 In Coconut Grove:

Address:	Beds/Baths:	Sq. Ft.	List Price
Grovenor House	3/3.5	2,640	$1,690,000
Grovenor House	2/2.5	1,756	$949,000
4129 Park Avenue	4/3	2,620	$795,000
1 Grove Isle Drive	2/2	1,642	$699,000
11 Samana Drive	3/2.5	2,781	$699,000
259 East Shore Drive	3/2	2,601	$599,000
3059 Indiana Street	3/2.5	2,350	$499,000
Ritz Carlton	2/2	1,540	$489,000
2201 SW 28th Street	2/2	1,571	$460,000
4190 Ventura Avenue	3/2.5	2,122	$429,000
Yacht Harbor	2/2	1,582	$425,000
4265 Braganza Avenue	3/2	1,298	$425,000
3158 Day Avenue	3/2	2,335	$412,500
3201 McDonald Avenue	2/2.5	1,295	$350,000

Recent Activity In The Coconut Grove Real Estate Market

rileysmith — Thu, 04 Feb 2010 13:46:16 +0000

Here are the closed sales since January 22, 2010, my last update.

Address:	Bds/Bths:	List Price:	Sale Price:
4120 Crawford Avenue	3/3	$850,000	$752,500
3 Grove Isle Drive	2/2	$709,000	$640,000
3633 Poinciana Avenue	3/3	$520,000	$520,000
1817 Wakeena Drive	2/1	$240,000	$235,025

Here are pending sales this week in Coconut Grove.

Address:	Bds/Bths:	Sq. Ft.	List Price:
3265 Coacoochee Street	3/3.5	2,898	$829,000
3750 Charles Terrace	2/1	821	$59,900

7 Closed Sales In Coconut Grove This Week!

rileysmith — Fri, 22 Jan 2010 20:11:57 +0000

There have been 7 properties to close this week in Coconut Grove making it the most active week in 2010 so far.

Address:	Bds/Bths	Size:	Sale Price:
Lofts At Mayfair (Condo)	2/2	1,053	$285,000 (foreclosure)
2753 West Trade Avenue (Townhouse)	3/2.5	1,776	$352,000 (short sale)
3144 McDonald Avenue (Townhouse)	3/3	2,338	$405,000 (foreclosure)
3 Grove Isle Drive (Condo)	2/2	1,642	$400,000
4131 Hardie Avenue	3/2	1,438	$396,300
3800 La Playa Boulevard	3/2.5	2,331	$700,000
3750 Frantz Road	4/4.5	3,449	$950,000

To stay updated with all of the current Coconut Grove real estate information, receive my blog posts directly to your inbox by subscribing here.

If you are interested in buying or selling real estate in Coconut Grove, please give me a call at 305.342.1623 or send me a note here.

Foreclosure On Wakeena Drive Is Finally Pending

rileysmith — Wed, 20 Jan 2010 19:10:38 +0000

There are two types of foreclosures in Coconut Grove. The first kind has an agent which prices the property way below market value and has realtors lining up to get their clients in. This kind usually ends up in a bidding war. The second type of foreclosure has an agent who either doesn’t know the market or wants to do right by the bank and prices it above market value, in which case it sits on the market and goes through several price reductions. Since all foreclosures are not priced to sell, buyers really need the help of a local agent to differentiate the good deals from the bad ones.

The house located at 1817 Wakeena Drive falls into the latter category. The house sat on the market for over 5 months and had 4 price reductions – it finally went under contract this week.

Details of 1817 Wakeena Drive:

List Price: $240,000
1,635 square feet of living space
5,500 square foot lot
3 bedrooms, 2 baths (2 bedrooms, 1 bath per tax rolls)

To stay updated with all of the current Coconut Grove real estate information, receive my blog posts directly to your inbox by subscribing here.

If you are interested in buying or selling real estate in Coconut Grove, please give me a call at 305.342.1623 or send me a note here.

Poinciana Avenue Flip Sells

rileysmith — Tue, 19 Jan 2010 14:59:38 +0000

4066 Poinciana Avenue was purchased in July of 2008 for $390,000. The owners renovated the house and put it back on the market priced at $599,000 then reduced it to $549,000. They closed last week for $525,000.

Details of the house include:

3 bedrooms, 2 baths
1,493 square feet of living area
6,000 square foot lot

To stay updated with all of the current Coconut Grove real estate information, receive my blog posts directly to your inbox by subscribing here.

If you are interested in buying or selling real estate in Coconut Grove, please give me a call at 305.342.1623 or send me a note here.

Welcome To Bougainvillea Road

rileysmith — Wed, 30 Dec 2009 16:51:33 +0000

Today my listing on Bougainvillea Road closed for $1,250,000, which is $281.00 per square foot. It was fair market value for a house that was built in 2001 and needed some updating.

Once we reduced the price to $1,399,000 we started to see quite a bit of action on the property and these particular buyers came to see it 3 times in the same day (a clear indication that they had found “the one”). On the final showing at 8:00 pm on a Friday night I pulled out all my tricks including champagne and music. They made an offer the next day.

As is the case with most transactions, we had many hurdles to jump through in getting the deal done but lucky for us all parties were extremely cooperative.

Since I live next door I am thrilled to welcome this new family to our street and neighborhood, I hope they enjoy it as much as we do!

Another Listing Under Contract

rileysmith — Mon, 28 Dec 2009 01:11:29 +0000

My listing on Kumquat Avenue in South Grove went under contract over the holidays. It was on the market for less than two months.

Details:

Asking Price $500,000
3 bedroom, 2 bath
1,674 Square Feet Living Area
7,400 Square Foot Lot

You may also be interested in: Buyer Activity Is Up, Listing Activity Is Down In Coconut Grove Real Estate

2 New Construction Homes In Coconut Grove Sold

rileysmith — Mon, 21 Dec 2009 20:42:43 +0000

There were two new construction sales this week in Coconut Grove. They add to the list of the many $1,000,000+ sales Coconut Grove has seen in the 4th quarter of 2009.

I represented the buyers for the sale on 1666 Micanopy Avenue. It closed today for $1,440,000.

Details of the house include:

4,777 square feet of living area
7,500 square foot lot
5 bedrooms, 5.5 baths
Sold for $301.00 per square foot

The second house is located on 1770 Espanola Drive which sold for $1,450,000. It came on the market in 2007 while it was still under construction. I showed the house to many clients over the years and had one client make an offer last month but it was beat out by the current buyers.

Details of the house include:

4,723 square feet of living area
7,000 square foot lot
6 bedrooms, 5.5 baths
Sold for $307.00 per square foot

If you are interested in buying or selling real estate in Coconut Grove give me a call at 305.342.1623 or send me a note here.

You may also be interested in: New Construction Sale On Tigertail Avenue, Another Real Estate Coconut Success Story, and “I Need Room To Negotiate” A Myth Of Sellers