In doing some research for a listing appointment here in Coconut Grove I noticed some surprising figures.  There have been no homes to sell in the price range of $800,000 to $1,000,000 in the past 5 months and only 1 between $700,000 and $1,000,000 in the past 6 months.   I remember back during the boom this was the hottest price point here in Coconut Grove.  Now the most active price range has come down to the $400,000 to $600,000 range.  Today there are only 30 homes priced between $700,000 and $1,000,000 on the market in Coconut Grove.  This low amount of inventory could certainly account for the lack of sales.  If you are one of the 30 homes priced between $700,000 and $1,000,000 the best advice I can give is to price your home as close to market value as possible and take off the ... 11/09/2010

Today I thought I would post some recent population and household statistics for Coconut Grove (33133).   Source: Claritas, 2009. Total Population Of Coconut Grove? 22,872 (Projected 5 Year Growth: 7%) Male to Female Ratio: 49.3% Male, 50.7% Female Total Adult Population? 83% (Median Age is 43) Race Origin: 48.9% Non-Hispanic White, 31.3% Hispanic, 17.3% Non-Hispanic Black, 1.1% Non-Hispanic Asian, 1.4% Non-Hispanic Other Education: 21% have had some college, 51% have graduated from colllege Marital Status: 34.1% Single (Never Married), 38.5% Married, 27.5% Divorced/Separated Language Spoken At Home: 63.1% English Only, 29.3% Spanish, 7.7% Other Occupation Status: 60.9% Employed, 3.4% Not Employed, 35.5% Not In Labor Force Occupation: 21% Executive/Managerial, 33% Professional and Spec... 10/26/2010

I will be holding another Coconut Grove Real Estate Talk on November 15th, 2010.  Come, Listen, Ask Questions.  This is an open forum where I will give a synopsis of the various segments of our market here in the Grove and my predictions on where things are heading.  Mark your calendar for Monday, November 15th, 7:00 pm at Greenstreet Cafe.  Complimentary appetizers and beverages will be served.  This is a free event that is open to the public.To view this post in its original form, click here. 10/12/2010

The vacant lot that I had listed on Ventura Avenue closed recently for $350,000 or $30.00 per foot.   It was a decent size lot with 11,600 square feet of land.  There have been quite a few land sales in Coconut Grove this year ranging between $20.00 per square foot to $40.00 per square foot. 3850 Plaza Street (18,125 square foot vacant lot) | Sale Price: $425,000 ($23.00 per square foot).  This was located on the corner of Plaza Street and Main Highway a high traffic street. 3737 Kent Road (42,970 square foot lot with house on property) | Sale Price: $1,350,000 ($31.00 per square foot).  In my opinion it sold for land value although there was a structure on the property. 4060 Hardie Avenue (6,500 square foot vacant lot) | Sale Price: $250,000 ($38.00 per square foot). If you are intere... 10/12/2010

In my opinion The Grove Club is one of the best small condominiums in Coconut Grove.   I am a stickler for well kept landscaping and The Grove Club has an on site maintenance manager who keeps the property (interior and exterior) in great condition.  I am in the building once a week because it is the pickup location for our local organic co-op and every time I walk through the open courtyard I am amazed at the serene and peaceful setting.   Located just steps from the center of Coconut Grove, Fresh Market and Kennedy Park this boutique building should be on your list if you are in the market for a condo.  To view a list of condos for sale in The Grove Club click here (don't miss Unit 43 which is new on the market).  If you would like to buy or sell real estate in Coconut Grove and are ... 10/06/2010

There are only 8 single family foreclosures on the market in Coconut Grove.  They have all been sitting for quite some time now and have even made price reductions along the way.  This just goes to show that not all foreclosures are priced below market value when they hit the market.   To view a list of all of the foreclosures in Coconut Grove (single family) click here.   I have been in the property on Poinciana which was recently reduced to $376,000, the home needs significant remodeling and the floor plan may be challenging for many buyers. So what does a bank take into consideration when pricing a foreclosure?  From my experience in handling foreclosures (as a listing and buying agent) it seems that a bank places the highest importance on the appraisal.  They will then factor in th... 10/05/2010

There were rumors swirling over the weekend about LeBron James buying a home in Coconut Grove's exclusive gated community of Hughes Cove.  The home that he is purportedly interested in is not officially on the MLS.  It is a waterfront home located at 3309 Devon Road and features 4 bedrooms, 4 full baths, 2 half baths, 9,622 square feet of living space on a 13,922 square foot lot.   The home was on the market back in 2007 priced at $7,650,000. Hughes Cove is an extremely private community and currently home to auto tycoon Ronald Esserman, developer Jorge Perez along with many other high profile Miamians.   Above is a picture I snapped last year of the main road in Hughes Cove along with the community's small harbor. We would be thrilled to have LeBron here in Coconut Grove and would wel... 09/27/2010

To view this post in its original form, click here.To visit my Coconut Grove real estate blog, click here. If you are out and about this weekend be sure to stop in our open house at 1621 Micanopy Avenue on Sunday, September 26 from 2:00 - 4:00 pm.  This is a great house on a wonderful, quiet street.   The home is fully gated, sits under towering oak trees and has unsurpassed quality of construction and finishes.  Other special features include CGI impact glass, custom woodwork, a chef's country kitchen that opens onto an informal dining room, even a mud room with "cubbies" for the whole family.  It is a split bedroom plan with 2 bedrooms, 2 baths downstairs and 3 bedrooms, 2 baths upstairs including a master sitting room, playroom and 2 balconies. Details Include: 5 Bedrooms, 4 Baths 4,... 09/24/2010

This is a very technical post, but as you know I am a numbers guy and like to make sure that all of the figures I am looking at are accurate. The Multiple Listing Service can spit out an average "days on the market" for a particular area in a matter of seconds.  However, this number can be deceiving.  Sometimes a home goes on and off the market several times before it sells.  If someone changes listing agents, the home will be "cancelled" in the MLS and then come back on a few days later as "active".   Or sometimes a listing "expires" and comes back on the market the same day.   The problem is that the MLS only tracks the "days on the market" since the most recent time it was put back on the MLS as active. It takes somebody going in by hand and looking at each closed sale to determine ... 09/23/2010

Searching for a place to Buy in Coconut Grove? You should look at Grove Hill. Do you know if its a condo, townhome or single family home? Are you paying cash or do you need financing? What size? How many bedrooms do you need? What is your price range? These are all important questions that you need to ask yourself before you start searching for a place to purchase.     If you will be financing the property that you are interested in buying. Don't be afraid and contact your local Florida bank and get pre-qualifed. That is the first step. Find a bank what is active giving loans in Coconut Grove. Ideally find one that has done a mortgage in Grove Hill recently. This is something that we can check for you on the MLS. Once you get prequalified, you will know what are your closing costs and w... 09/22/2010

Many people would be surprised to know that Coconut Grove actually has 13 gated communities within its boundaries.  Some are large waterfront communities with 30+ homes, some are old estates that have been divided up into several lots and some are gated with public access.   Below is a breakdown of the gated communities (from north to south) with the recent sales and current homes for sale. L"Hermitage: A gated community of villa style homes.  L'Hermitage appeals to buyers who want a mixture of condo and single family home living.  It features a 24 hour guard, beautiful waterfalls and creeks throughout the grounds, perfectly maintained landscaping, a pool, tennis courts and some boat dockage.  The villas are clustered around small cul-de-sacs and each has a 2 car garage and a 2 car car... 09/22/2010

Glencoe is an great community to live in. You can take advantage of the low real estate prices in Coconut Grove and find a super deal right now. How can you get access to these buying opportunities? The first step is to educate yourself. You can consult with a local realtor. Our agents at Interinvestments Realty  can assist you.   If you need a mortgage to purchase your property at Glencoe you need to get pre-qualified, in addition the Bank needs to prequalify the development.. You can get this pre-qualification over the phone. Speak to your Florida bank that is familiar with Coconut Grove. If you are a foreigner and you wish to obtain a mortgage, then we can refer you to a couple of lenders that specialize in financing to foreigners.  But again, make sure that they will finance a prope... 09/21/2010

You can adquire a wonderful property today in Crystal Bluff at greatly reduced prices. Who would have imagined that that property values in Coconut Grove would be so low? An important number of the transactions are either foreclosures or short sales in Coconut Grove. You have real opportunity to find your new home Crystal Bluff.   If you need a mortgage to buy your home in Crystal Bluff, then you should contact a local mortgage professional. There are a few mortgage brokers or banks locally in Crystal Bluff that know the area and properties. Real Estate is a local business. We recommend that you work with professionals that are doing transactions in Coconut Grove. They know the area.   Interinvestments Realty has a team of real estate professionals in Coconut Grove that are ready to wor... 09/21/2010

I just listed this great unit at the Ritz Carlton Executive Residences in Coconut Grove for $749,000.  Located at 3350 SW 27th Avenue Unit 906, this is one of the much desired corner units and features 2 bedrooms (with a convertible 3rd bedroom), 2 1/2 baths with 2,028 square feet. My seller has priced this unit to sell quickly.  It is by far the lowest priced 2 bedroom with this amount of square footage in the building.  We are asking $369 per square foot. When you look at the sales in this building for the past 6 months you will see that our price is very compelling. 3350 SW 27th Ave. #1207: 1 BR/1 BA | 896 Sq. Ft. | Sale Price: $340,000 | Sale Price/Sq. Ft.: $379.00 3350 SW 27th Ave. #1904: 1 BR/1 BA | 1,084 Sq. Ft. | Sale Price: $390,000 | Sale Price/Sq. Ft.: $359.00 3350 SW 27th A... 09/21/2010

You can adquire a wonderful property today in Coconut Grove Park at greatly reduced prices. Who would have imagined that that property values in Coconut Grove would be so low? An important number of the transactions are either foreclosures or short sales in Coconut Grove. You have real opportunity to find your new home Coconut Grove Park.   If you need a mortgage to buy your home in Coconut Grove Park, then you should contact a local mortgage professional. There are a few mortgage brokers or banks locally in Coconut Grove Park that know the area and properties. Real Estate is a local business. We recommend that you work with professionals that are doing transactions in Coconut Grove. They know the area.   If you wish to start previewing some homes in Coconut Grove Park contact our sales... 09/20/2010

Looking to purchase a property in Coconut Grove ?? Are you interested in buying for your personal use, the other is for investment. There are many buyers that are buying today that the prices in Coconut Grove are low and renting them out. Coconut Grove is offers are great location and properties that are desirable. The key is buying at the right price.     Are you going to buy with a Mortgage?.... Interest rates that are very very low. If you would like to obtain a mortgage, we recommend that you contact a local mortgage professional that knows the Coconut Grove market. We would be delighted to recommend a mortgage professional that can assist you. Please contact of our real estate Associates at Interinvestments Realty.  Tel. 305-220-1101     We are delighted to start researching what a... 09/20/2010

In all markets and in all price ranges the first question most buyers ask is "Has the price been reduced?".  And rightly so.  50% of the homes sold this year in Coconut Grove made one or more price reductions before going under contract.  That means that 50% of the sellers out there start at a price that is out of line with its true market value.  This is just another reason that it is essential to use the services of a local realtor who can give you an accurate assessment of a home's price. To view a list of homes that have made a 10% or more price reduction in the past few months, click here. Visit my Coconut Grove real estate blog for daily news, statistics and opinions on Coconut Grove real estate.  To view this post in its original form, click here.If you are interested in buying o... 09/17/2010

Looking to purchase a property in Coconut Grove ?? Are you interested in buying for your personal use, the other is for investment. There are many buyers that are buying today that the prices in Coconut Grove are low and renting them out. Coconut Grove is offers are great location and properties that are desirable. The key is buying at the right price.     Are you going to buy with a Mortgage?.... Interest rates that are very very low. If you would like to obtain a mortgage, we recommend that you contact a local mortgage professional that knows the Coconut Grove market. We would be delighted to recommend a mortgage professional that can assist you. Please contact of our real estate Associates at Interinvestments Realty.  Tel. 305-220-1101     Interinvestments Realty's website is one of ... 09/16/2010

Last night a townhouse came on the market in Center Coconut Grove at a price of $729,000 ($284.00 a foot).  This makes it the highest priced townhouse currently for sale in Center Grove.  The property was built in 2001 and features 3 bedrooms, 2.5 baths, listed by Avatar. There are roughly 50 townhouses for sale and there have been 35 sales this year. While many of these townhouses look very similar from the outside there are several things that can influence their value.   For instance there are specific streets that are more/less desirable, preferable layouts, designs and fixtures.   The particular builder of the townhouse can also affect value since some put out a better quality product than others.  Having a local agent who can guide you towards the best choice for your money is ess... 09/16/2010

Here are a few things worth mentioning for those of you who are tracking the real estate market here in Coconut Grove: I have had many buyers recently interested in the area of Coconut Grove known as Bay Heights (one of them recently put the home located at 271 East Shore Drive under contract).  As I have always said on this blog, Bay Heights is where you can get the most bang for your buck in Coconut Grove.  It is still within the community boundaries but for some reason the values have always been slightly below the rest of the Grove.  For example 14 Pinta Road (photo above) recently went under contract at a list price of $629,000 and features 3,401 square feet of living space, 4 bedrooms/4 baths, pool and updated kitchen.  The asking price was $184.00 per square foot!  That same hous... 09/16/2010