If you are looking for a single family home to rent in Coconut Grove then you are probably pulling your hair out with frustration. There are just 5 single family homes on the market in Coconut Grove and prices start at $3,000 for a 2 bedroom/2 bath 1,669 square foot house. The 3 bedroom homes jump up to $4,000 and up. With inventory so low, it is inevitable that rental prices will continue to increase. The chart below shows the cost of...Continue Reading!
I keep track of the average "list price per square foot" of homes in Coconut Grove because I think it is very indicative of seller mentality. As you can see from the chart above, sellers got more realistic in their pricing between 2009 and 2012. However this year, the average "list price per square foot" jumped up to $358 which tells me that sellers are more optimistic about the increasing values in Coconut Grove. I am a Coconut Grove real estate specialist. Over...Continue Reading!
Check out this Realtor's property description on a bank-owned townhouse that just sold in Coconut Grove. The new buyers might be surprised when they find out their new home is not in Coral Gables! "Beautiful 3/2.5 Townhome located in desired City of Coral Gables. Townhome has is its own private pool with space for entertaining. Unit has marble tile flooring with a beautiful Kitchen. Kitchen has an Island and recess lighting. All bedrooms are located on the 2nd floor of the home. There is a...Continue Reading!
I was looking over the inventory of Center Grove townhouses last night and wondering whether the lack of inventory east of 32nd Avenue will cause a rise in values for townhouses located west of 32nd Avenue (also known as the West Grove). The townhouses in the West Grove have typically sold at a discount compared to those on the other side of 32nd Avenue. However we are starting to see similar asking prices for townhouses regardless of location. There hasn't been a West Grove townhouse sale in...Continue Reading!
The 5 acre piece of waterfront land known as Baymere, priced at $22,000,000 and located at the end of St. Gaudens Road in South Coconut Grove has recently gone under contract. The listing was marketed as an opportunity to build 7 luxury homes. I will keep you posted on the sale price as soon as it closes! The listing agent for the property was Toni Schrager of Avatar. I am a Coconut Grove real estate specialist. Over the past 4 years, I have earned the distinction...Continue Reading!
Today I went to my daughter's school for Parent's Day, check out the last line on her All About My Dad paper. My Dad Gets Really Happy When....He Sells A House! From the mouths of babes! She knows her Daddy well!Continue Reading!
I just listed this beautiful home in North Coconut Grove. Located at 3025 Blaine Street, it has been completely renovated with the finest of finishes. Bright, open spaces, a double sided fireplace, wood & limestone floors and vaulted wood ceilings are just a few of the special details. The owner will also be installing a new pool in the coming weeks which is going to add tremendous value to the property. Details of 3025 Blaine Street, Coconut Grove: 4,063 square feet of living space 12,000 square...Continue Reading!
You may remember the house that I wrote about last month located at 3950 Leafy Way in South Coconut Grove. (Read that post here: Property Alert: 3950 Leafy Way). As predicted, there were multiple offers on the property within days of it coming on the market. I had the chance to tour the home with some clients of mine and can tell you that it needed a significant amount of renovation which was reflected in the list price of $995,000. It also had a difficult...Continue Reading!
Despite the turnaround in the Coconut Grove real estate market, buyers continue to have issues with their appraisals. Property values have increased significantly over a short period of time (particularly here in Coconut Grove) and appraisers are hesitant to use the higher sales figures in their analyses. This is just another reason why cash is king! Sellers will take a cash deal over a financed deal any day because it gives them peace of mind that they don't have to worry...Continue Reading!
Although tracking the numbers is crucial to understanding the market, nothing compares to being out in the field every day talking to other Realtors, as well as my own buyers and sellers because sometimes the numbers don't tell the whole story. The charts above show the price distribution of homes For Sale and Sold in Coconut Grove. At first glance it appears that our supply (homes for sale) is perfectly in line with our demand (homes sold). However, by taking a look at my own buyers and in talking...Continue Reading!