Coconut Grove, Coral Gables & South Miami Real Estate

Archive for the 'Coconut Grove' Category

Like We’ve Been Saying, the Tides they are A-Turnin!!

Today the Wall Street Journal published and article stating that buyers are “stunned because bidding wars are back.”  This is something that we, the Realtors here in Miami, have been trying to explain to our buyers for months now.  Unfortunately, it has been our experience that instead of heeding our advice, they’ve had to experience it themselves, possibly losing a home they love, before realizing the changes that have occurred.

It is the law of supply and demand!  The supply has been dwindling and the the demand increasing month my month.  The below graph represents the last 15 months of single family homes under $600K for sale, under contract and sold in the Coconut Grove, Coral Gables and South Miami areas.

This is the most popular and desirable segment of the market right now and as you can see, we are down to less than 4 months of inventory.  Since 6 months is needed for a balanced market, the inventory for nice homes is significantly low and the Sellers have the advantage.  Thus the multiple offers.

You can read the entire article here.

If you or someone you know are looking for a real estate professional who specializes in Coconut Grove, Coral Gables and South Miami areas, give me a call at 305-987-2644 or send me a note here.

Another Contemporary Home Hits the Market

This ultra-modern home in South Coconut Grove just came onto the market and it’s stunning.  Located at 4091 Park Avenue, it has 4 bedrooms, 4 baths with 3,322 sq ft of indoor living area.  It features soaring glass windows, 2 story ceilings, formal living and dining rooms, fireplace, heated pool and 2 car garage.

With an asking price of $995,000., that is just over $299. per sq ft.  This home is listed with Ashley Cusack of EWM International.

Click here to view the virtual tour.

If you or someone you know are looking for a real estate professional who specializes in Coconut Grove, Coral Gables and South Miami areas, give me a call at 305-987-2644 or send me a note here.

 

Coconut Grove Local Favorite Could Be on it’s Last Leg

Scotty’s Landing has long been known by the Grove locals for its beautiful views of Dinner Key, Biscayne Bay, burgers and fish sandwiches.

Since Scotty’s location is off the beaten trail, most visitors to Coconut Grove never get there.  That being said, it is always busy.  Whenever it is a beautiful day and you want to have a drink and bite by the water, Scotty’s is the place.  It’s a laid back, friendly, t-shirt, shorts and flip-flop kind of place.  As close as you can get to the Florida Keys lifestyle without making the drive.

Unfortunately, the 35 year lease that includes Scotty’s, the Grove Key Marina and Chart House is ending this year and the City of Miami is considering other options for that entire area.  The city has published a worldwide request for proposals for an improved marina, including a “casual outdoor restaurant” that would appeal both to locals and to tourists.

As someone that lives and works here in Coconut Grove, it would really be a shame to loose this treasure.

Click here to read the entire article….

If you or someone you know are looking for a real estate professional who specializes in Coconut Grove, Coral Gables and South Miami realty, give me a call at 305-987-2644 or send me a note here.

March 2012 – South Coconut Grove Sales

If you or someone you know are looking for a real estate professional who specializes in Coconut Grove, Coral Gables and South Miami realty, give me a call at 305-987-2644 or send me a note here.

Yellow Ribbons around Town, What’s it all about?

If your are familiar with that classic song by Tony Orlando and Dawn (yes, I was around then) you might be thinking that all these yellow ribbons around Coconut Grove have something to do with the armed forces.

Well, they are actually displayed to bring attention to the plight of the Coconut Grove Playhouse.  They represent the “Give it Back” campaign.  This movement, planned by the Village of Center Grove (VOCG) neighborhood group. is planned for April 2 — the goal is to get 1000 people or more to show up to take over the Playhouse as part of their initiative.

The Coconut Grove Playhouse Board of Directors was freely given and accepted official ownership and responsibility for the Playhouse in 2004 by the State of Florida.  Since that time, it had been run into the ground. It closed, finally, in 2006, in financial ruin.

You can read the full article here.

We love Coconut Grove and the playhouse is an integral part of the village and historic landmark.  It’s definitely worth saving.

Laid Back Bahamian-Style Living in the Heart of Coconut Grove

What I love about this home is that it epitomizes the ambiance of Coconut Grove and what brings thousands to the area every year.  Upon entering through the carved wooden gate you wind your way along the Chicago Brick pathway through the lush tropical landscaping.

From the claw foot tub in the guest bathroom to the blue sky ceiling on the porch, this home just breathes character and charm.

Located at 3571 Linden Lane, this home features two bedrooms, two baths, a two car garage and 1,668 sq ft of living area.  At an asking price of $475,000., this home is worth every penny.

Click here to view additional photos and the entire video tour.

If you or someone you know are looking for a real estate professional who specializes in Coconut Grove, Coral Gables and South Miami realty, give me a call at 305-987-2644 or send me a note here.

Miami named as “Most Outrageous and Most Positive” City on the Road to Real Estate Recovery

In a recent interview on CNBC, Ron Peltier, CEO of Homeservices of America, stated that he believes that we are on the road to real estate recovery and expects price stabilization in the second half of the year.  He specifically mentioned Miami as having the “most outrageous and most positive” turnaround regarding market stabilization.

Mr. Peltier said that we have reached a “tipping point”.  Much of this is due to the increase in rental prices.  Many rentals are higher than the cost of owning a home.  Additionally, he feels that there are many people that have been sitting on the sidelines for years that are now ready to purchase a home.

All of this is great news for us here in South Florida and frankly, as Realtors, we have been seeing the signs for months now.  If you would like to see the entire interview just click on the link below.

Buffet CEO Ron Peltier interview with CNBC

If you or someone you know are looking for a real estate professional who specializes in Coconut Grove, Coral Gables and South Miami realty, give me a call at 305-987-2644 or send me a note here.

 

Today’s Brokers Open – Unique Styles Abound

Today’s Brokers Opens offered quite the diversity in styles here in Coconut Grove and Coral Gables.  Normally I would write about my favorite of the day but today I had three, all unique and worth mentioning.

First was this Cape Dutch South African style home in Coral Gables.  It was designed in the 1920′s as part of the founder of Coral Gables, George Merrick’s grand “City Beautiful” plan.  It has been completely updated and renovated adhering to the style in which it was built.  This home has a main house with a spacious courtyard leading to the separate guest house.  It is listed for $1,250,000. by Coldwell Bankers.

If contemporary is your style, and for many people it is, this may be the home for you.  This home was recently renovated and updated with amazing outdoor entertainment areas.  It offers 5 bedrooms, 5.5 baths with 3,876 sq. ft. of living area on a cul-de-sac in South Grove.  It is listed for $1,595,000. by EWM Realtors.

Last but definitely not least is this lovingly renovated historic Old Spanish.  Though the style may be old, the updates certainly aren’t.  All top of the line appliances with special attention paid to the true character of the home with antique fixtures and details throughout.  The main house has 3 bedrooms, 2 baths but there is also a spacious 1 bedroom, 1 bath guest house.  This home is listed for $899,000. by One Sotheby’s Int’l Realty.

If you or someone you know are looking for a real estate professional who specializes in Coconut Grove, Coral Gables and South Miami realty, give me a call at 305-987-2644 or send me a note here.

2011 A Year in Review – Tri-City areas of Coconut Grove, Coral Gables and South Miami

2011 was a great year for the areas of Coconut Grove, Coral Gables and South Miami.  Total gross sales were up significantly over the 2010 numbers with condos sales increasing 13.5% and single family home sales up 29.5% overall.

In most segments of the market, the inventory has been dropping steadily leading us towards a more stable market.  The surprise though would be the over $1MM condos.  Check it out below.  There seems to be a few more for sale each month.

In the below graphs you will find the data regarding home sales, pended homes (under contract) and homes for sale on a month by month basis for all of 2011.  I have segmented them by single family homes, condominiums and price range.

 

Single Family Homes up to $500,000.

 

 

Single Family Homes from $500,000. to $1MM

 

 

 

 Single Family Homes for over $1,000,000.

 

 Condos for under $300,000.

 

 

Condos from $300,000. to $500,000.

 

 

Condos from $500,000. to $1MM

 

 

 

Condos over $1,000,000.

 

If you or someone you know are looking for a real estate professional who specializes in Coconut Grove, Coral Gables and South Miami realty, give me a call at 305-987-2644 or send me a note here.

 

Coconut Grove Guest House for Rent

This lovely cottage recently came on the market on one of Coconut Grove’s premier streets.

The guest house, located at 4131 Raynolds Avenue, is a full 1/1 with living room and kitchen.  There is a washer/dryer in the unit and electric, water, cable and wireless internet are all included in the rental price of $1,200.

If your looking for a wonderful opportunity to experience Coconut Grove living at it’s best without paying the big bucks, this is the home for you.

If you are interested in renting this guest house or any other home here in Coconut Grove, just give me a call at 305-987-2644.