Coconut Grove, Coral Gables & South Miami Real Estate

Archive for the 'Miami' Category

Nice Selection for under $500,000. in Coconut Grove, Coral Gables and South Miami

Looking for a home in the tri-city area for under $500,000?  Great news, there are some really great homes to choose from.  I was recently previewing for a client that is looking for a nice single family home under $500,000.  I was pleasantly surprised with the quality and quantity of the inventory.   

Here are a few of my favorites.

This charming home located at 516 Aragon Avenue is literally just blocks from the center of the Coral Gables shopping and restaurant district.  The property offers two residences with a 2 bedroom, 1 bath main house and a 1/1 cottage at the rear of the property.  Wood floors, fireplace, high ceilings and Chicago brick patio are just a few of the features of this special home.  Asking Price: $436,000.

 

This lovely South Grove home has 2 bedrooms and 1 bath with wood floors, restored Cuban tile and private garden.  Located at 4055 Hardie Avenue, this home is within walking distance to the Village of Coconut Grove and Merrie Christmas Park, a popular destination for local families.  Asking Price:  $449,000.

 

This High Pines home located at 7800 SW 53 Ave. features 3 bedrooms and 2 baths with 1,646 sq ft of living area.  High Pines is a subdivision near South Miami that is very desirable due to the school district and it’s proximity to Downtown, Miami Beach, Miami Airport, Coral Gables, South Miami and Coconut Grove.  Asking Price $488,000.

Click here for additional information and photos of the homes featured here.

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

New Hope for Failing Neighborhoods – HUD 203(K) Program

Did you know that US Department of Housing and Urban Development (HUD) has created a program specifically “to promote the rehabilitation and revitalization of neighborhoods and communities”?  The 203(K) program is basically designed to provide lending on homes that would otherwise be ineligible due to the condition of the property. 

As I am sure most of you are aware, there are many homes and even entire neighborhoods that have fallen to disrepair due to the current economic situation.  This program, in addition to providing the financing for the cost of the home, also includes funds, for the rehabilitation of the home.

The types of improvements that borrowers may make using Section 203(k) financing include:

• structural alterations and reconstruction 
• modernization and improvements to the home’s function
• elimination of health and safety hazards 
• changes that improve appearance and eliminate obsolescence 
• reconditioning or replacing plumbing; installing a well and/or septic system 
• adding or replacing roofing, gutters, and downspouts 
• adding or replacing floors and/or floor treatments
• major landscape work and site improvements
• enhancing accessibility for a disabled person 
• making energy conservation improvements

For additional information, here are some Questions and Answers about 203(k) loans. 

And, if you are looking for a real estate specialist in the Miami area, please give me a call at 305-987-2644 or send me a note here.

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Gables by the Sea – A Boaters Paradise

If your looking for luxury waterfront living then Gables by the Sea is the place for you.  As the name implies, life revolves around the sea in this community where water-skiing, sailing, scuba diving, deep sea fishing and just plain boating are year-round activities.

This private gated community of single family homes features a series of channels with many providing direct access to Biscayne Bay and the Atlantic beyond.  Located at the southernmost point of Coral Gables, just south of Fairchild Tropical Gardens and Matheson Hammock Park, it is minutes from all the major metropolitan areas of Miami.

  

Quite the eclectic community, Gables by the Sea features a mixture of older established homes and newer construction throughout.  Prices vary drastically based on access to the bay, age of home and condition of the property.  At this time, there are 22 homes for sale ranging in price from $765,000. to $3,697,000.  Within the last six months, there have been 6 sales with prices ranging from $605,000. to $2,450,000. and 2 homes currently under contract.  

Truly a boater’s paradise……

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

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Market Update – Tri-city April 2010 – Coconut Grove, Coral Gables & South Miami

So now the question that is on everyone’s lips is “How will the real estate market be affected now that the tax credit has expired?”  The answer, only time will tell.  But what I can tell you is that the over $1MM market here in Miami seems to be rebounding a bit.

It is still early to make any determinations but below are the numbers through April for the Coconut Grove, Coral Gables and South Miami areas.  I have broken the information into 3 categories, single family homes under $500K, $500K to $1MM and over $1MM.

Single Family up to $500,000.  

As you can see, the homes sales are down 25% with the pended also down 2.5% over last years numbers.  The good news is that the inventory, homes for sale, is down significantly which can translate to more stabilization in this segment of the market.

Single Family $500,000. to $1,000,000.

In this market segment the sales are up 60% with the pended sales down 21.1%. 

Single Family over $1,000,000.

The best news this month is in the over $1MM market.  Sales are up 66.7% with the contracts pended up 128.6% over last year.

If you would like a trends report tailored to your neighborhood, give me a call at 305-987-2644 or send me a note here.

For more concise market information for Coconut Grove, Coral Gables or South Miami just click on the city name and you will be re-directed to the market data specific to each.

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Green Living Kitchen Renovation – Part 2 – Cabinets

In this segment of my Green Living series we are going to discuss “Green Cabinetry”.  Many people are now considering more environmentally-friendly cabinets over conventional cabinets because the are better for your home, better for your family and better for the environment.

What makes a cabinet “green”? 

There are two main criteria.

1. They don’t place a strain on the environment and/or
2. They don’t pollute indoor air quality. 

Some cabinets release toxic gases into the air.  Gases can come from the substrate used in the manufacturing process of the kitchen cabinets or they can come from the sealant applied to the exterior of the cabinets.  The fiber board or particle board used in the majority of kitchen cabinet boxes is created from a substance which is known to out-gas formaldehyde for the entire time it is in your kitchen.  Additionally, the majority of clear finishes used to seal the wood on cabinet exteriors emit high levels of VOC’s (Volatile Organic Compounds) which produce harmful levels of gas in the air.  Here are some sources for formaldehyde-free kitchen cabinets.

In addition to the out-gassing, you want to consider the materials your cabinets are made of.  Is it an environmentally sustainable alternative? 

One popular option is recycled wood.  Recycled cabinets cut down on deforestation and if they are made from solid wood they would eliminate the threat of particle board problems.  These can sometimes be obtained from salvaged businesses and often older kitchens are made from solid wood.  You just have to be aware of the sealant that is applied to the exterior of the cabinets.  You may want to consider re-surfacing the cabinets with low VOC or no VOC water based finishes.

If you are looking for new cabinets but still want to be conscience of deforesting and sustainability, stainless steel or any other metal cabinets are an alternative.  If your heart is set on wood, there are several vendors available that are known to be formaldehyde-free and/or ESP (Environmental Stewardship Program) and FSC (Forest Stewardship Council) certified.  Both ESP and FSC are organizations that assist consumers in easily identifying environmentally-friendly products.  Either one of the websites above provide a list of certified vendors.

Coincidentally, while researching article I discovered that my local paper, the Miami Herald, had recently published an article on Local Businesses “weighing the pros and cons of going green”.  It outlines the challenges that local businesses have with making environmentally conscience decisions.  One of the cabinet vendors, Greenworks Cabinetry, has 8 locations in the South Florida area.  Good to know.

For more general information, you can visit the US Green Building Councils Green Home Guide website for ideas, advice and certified green professionals.

I really enjoy sharing ideas and options for “Greener Living” so if you have any suggestions or know of additional resources, I would love hearing from you either via comment below or you can send me a note here.

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NY Times names South Florida as area where “Buying a home appears to be a Bargain”

The NY Times reported last week that in some areas “prices have fallen so far that buying a home appears to be a bargain”.  Luckily for us, South Florida was named as one of those areas.

The Times analysis was based on the costs of buying versus renting a home of comparative value.  The article also provides three very informative, interactive tables.   All three are geared towards helping you decide if it is better for you, personally, to buy or rent.

Read the full article here.

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

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New HAFA Program – Could it be a Short Sale Savior?

 

“Short sales”, just the words evoke controversy.  If your not familiar with the term, it is used when a home is what we call upside-down on the mortgage.  When the market value of the home is less than the actual mortgage amount due and the homeowner needs to sell.

Like many Realtors here in Miami, I have been trying to avoid short sales like the plague.  You may have heard the stories.  Buyer finds a great home at a great price.  Offers full price on short sale property.  Offer is accepted by the homeowner and submitted to the bank for review.  Buyer waits and waits, months and months, and finds out that the list price is no where near what the bank will accept.  Deal dies.  Frustrated buyer, frustrated seller, no one wins. 

Now it looks like there may be some relief in sight and short sales may become the new best deals in town. 

The Treasury Department has introduced a new program, Home Affordability Foreclosure Alternatives Program (HAFA).  This program is designed as an option for homeowners that are unable to keep there homes through the original Home Affordable Modification Program (HAMP). 

The HAFA Program took effect on April 5, 2010 and offers significant modifications to the short sale process.  Additionally, it provides financial incentives for the homeowners and the lenders, in connection with a short sale.  It was designed to expedite the short sale process significantly thereby getting the homes sold prior to foreclosure.  

Here are some key points:

• Allows sellers to receive pre-approved short sales terms, including the minimal acceptable net proceeds (sales price). 
• Uses standard processes, documents and time frames/deadlines.  This in itself can change the short sale climate drastically.
• Provides financial incentives:
  • $3,000. for Sellers relocation assistance.
  • $1,500. for lenders administrative and processing costs.
• Best of all, the lender may not require a cash contribution or promissory note from the borrower and must forfeit the ability to pursue a deficiency judgment against the borrower.  This is HUGE.

Click here to find a list of participating lenders/servicers.

The HAFA Program has the potential to revolutionize short sales, but it’s success will depend on committed implementation by the lenders and recognition that the loss will be less with a short sale than a foreclosure, not just for the lender, but for everyone!

I look forward to seeing how this will affect short sales in the near future and the market in general.  I will keep you informed as to how it goes.

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

Or, just subscribe here if you would like these blogs sent directly to your inbox.  After subscribing, you will recieve an email requesting activation.

EWM International Rolls out New Real Estate Marketing Tool

Great News!!  EWM Realtors now has a new marketing service available exclusively to EWM clients in Miami-Dade and Broward Counties.  This new texting program provides one more way for buyers to access information on homes for sale.  The truly innovative thing is that anyone can get information on all listings, not just EWM listings, while right in front of the home or just driving around.  Check out the video below for details as to how this terrific service works.

 

Just one more way that EWM is truly a progressive and service oriented real estate service provider.  I love working for this company. 

If you have any questions or would like assistance in any real estate matters, please give me a call at 305-987-2644 or email me anytime.

The 3 Top Farmers Markets of South Miami

One of the great things about living in South Florida is the abundance of fresh produce.  We are blessed to have several options throughout the year for locally grown and organic foods.  Here are my three favorites.

 

 

The Coral Gables Farmers Market is a small outdoor European-Style Green Market.  It is in it’s nineteenth season and is held every Saturday from early January through the end of March.  It is located in the town center with historic Coral Gables City Hall in the background.  There is something for everyone with cooking classes, Tai Chi in the park, gardening workshops and children’s activities.

 

The Coconut Grove Farmers Market is provided weekly by Glaser Organic Farms and offers year round produce and organic products.  Every Saturday you will find and extensive selection of locally grown, organic, raw and vegan foods.  Additionally they have prepared food area where people gather to enjoy some of the best tasting raw and organically prepared items.  Who knew eating healthy could taste so good?

 

The Pinecrest Gardens Green Market is open every Sunday and runs from December through the end of April.  Offering numerous vendors with organic and conventional foods, plants, arts, crafts and fresh produce.  Once you’ve had your fill of the market you can wander into the Pinecrest Gardens and see why it was voted one of the top 20 parks by Miami.com.

If you or someone you know is looking for a real estate professional who specializes in South Miami neighborhoods, give me a call at 305-987-2644 or send me a note here.

Miami’s Brickell Key – Like the View?

This 2 bedroom, 2.5 bath unit is available for just $2,500. a month.  Located on 26th floor of The Courts on Brickell Key, this view just takes your breath away.  It offers 1,397 square feet of contemporary living area and a spacious wraparound balcony.   If you are not familiar with Brickell Key, it is a gated island community just east of downtown Miami.  Centrally located and just minutes to all the hot spots, South Beach, Coconut Grove, Coral Gables and Downtown.   The island offers many amenities including spa, tennis courts, running path, restaurant, dry cleaners, travel agency and grocery store.

If you are interested in this unit or any other Brickell Key properties I can be reached at 305-987-2644 or email me here.