Sold: 3679 Frantz Road
August 23rd, 2010 categories: What is selling in Coconut Grove?
Congratulations to my buyers who closed today on this home located at 3679 Frantz Road in South Coconut Grove. We put the property under contract on August 10th and were able to get it closed in less than 2 weeks. It was a lovely Old Spanish house with 4,213 square feet of living space on a 9,600 square foot lot. It featured 7 bedrooms and 5 baths. The selling price was $1,200,000 ($284 per square foot).
This house is another example of why you need to price your home correctly, it was listed within 10% of its market value and sold in less than a month.
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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Identical Strategy, Identical Outcomes
August 20th, 2010 categories: Selling Real Estate in Coconut Grove
I am always preaching to my sellers that you have to price your house correctly from the beginning. If you don’t it is certain that it will sit on the market until it is priced closer to market value.
There were two Coconut Grove homes which sold today that couldn’t prove my point better. They came on the market at exactly the same time for a similar price, made almost the same price reductions, sat on the market for the same amount of time and sold for just about the same price. See the figures for both houses below.
The numbers tell the story.
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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Now Is The Time!
August 18th, 2010 categories: Selling Real Estate in Coconut Grove
Summer is coming to an end which means that real estate in Coconut Grove is about take off. The months between September and May are always the most active. The snowbirds are here, the weather is fantastic and buyers seem to come out in force.
If you are thinking of placing your home on the market why not do it during a time when your house will get maximum exposure to potential buyers. And if you need a realtor please don’t hesitate to call me. I would be happy to offer you a no pressure home valuation and market analysis.
Even if you aren’t interested in selling for quite some time but just want a general idea of what your home is worth, it would be my pleasure to stop by and give you my opinion.
I can be reached anytime on my cell phone at 305.342.1623 or send me a message here.
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True Tropical Living On Avocado Avenue
August 18th, 2010 categories: New Listings in the Grove
Out touring Broker’s Open houses today I visited a great house on Avocado Avenue in the South Grove. This house is the epitome of Coconut Grove. The landscaping is overgrown, the house is quirky and exudes charm. It is what is called a “pod house” which means that it consists of 3 separate structures and you have to go outside to get to each one. For instance, you have to walk underneath a covered path from the main living space to get to the master bedroom. If you are a true Grovite then this may be the house for you.
Details of 3680 Avocado Avenue:
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2 Bedrooms, 2 Baths
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1,186 Square Feet Of Living Space
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7,000 Square Foot Lot
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Terrazo and Italian Cobblestone Floors
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For Sale: $585,000, For Rent: $3,500
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Listed by Fortune Realty
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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Activity Is Up In The Grovenor House
August 16th, 2010 categories: Condos
The market in the Grovenor House has really come alive this year. There have been a total of 13 closed sales in 2010 (only 7 closed in 2009). This month alone has seen two $1,000,000+ units go under contract (Unit 2101 listed for $2,875,000 and Unit 1504 Listed for $1,675,000).
The water view condos in The Grovenor House have had the most movement. 12 out of the 13 units sold featured bay views (selling at $579 a foot). There was only 1 garden view condo to sell this year (it sold at $382 a foot). None of the sales this year have been short sales or foreclosures.
To view a list of all the condos (21) for sale in The Grovenor House click here. Of these, 2 are unapproved short sales. The condos with water views are asking on average $796 a foot while the garden view units are asking an average of $576 a 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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Center Coconut Grove Townhouse Sales Are Slow
August 12th, 2010 categories: Townhouses
There have only been 2 townhouses to sell in the Center Grove in the past 2 months! Considering that there are about 88 (45 if you only count the “true” Center Grove) on the market, it is safe to say that most of the sellers are extremely frustrated.
I recently listed a great Key West style townhouse on Allamanda Street which was built in 2008. The owners have listed the townhouse very competitively at $557,900 ($225 per foot). The townhouse features 4 bedrooms, 3 baths with 2,472 square feet of living space. It is completely gated with top of the line finishes, travertine floors, impact windows, views of the neighboring park, two master suites and an eat-in kitchen.
Right now, A+ townhouses (in terms of location and condition) are selling at approximately $225 a foot (This figure comes from the sales of 3067 Gifford Lane which sold for $254 a foot, 3212 Matilda which sold for $221 a foot, and 3114 Aviation Avenue which sold for $200 a foot).
If you are interested in seeing our townhouse on Allamanda, or any other properties in Coconut Grove please don’t 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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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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Villa De Garmo Is Pending!
August 10th, 2010 categories: What is selling in Coconut Grove?
After over a year on the market, the home located at 3710 De Garmo Lane in the exclusive gated community of De Garmo Estates is finally under contract. The list price was $2,975,000. I will certainly keep you posted as to the sale price! Congratulations to the owners (who happen to be faithful followers of our blog) and to Laura Mullaney, a good friend of mine.
Homes in Coconut Grove are selling! In the single family market we have had approximately 15 more closed sales in 2010 comopared to the same time last year.
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.
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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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