Coconut Grove, FL Real Estate News

Now is great time to buy a property in Cloisters On The Bay located in the city of Coconut Grove. You can find distressed properties which are in foreclosure brand new or resales that offer terrific values. Coconut Grove has a nice selection of lovely communities that offer condos, townhomes and single family homes.     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 Cloisters On The Bay 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 what will be your montly mortgage payment...
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Today is a fantastic time to buy in Camner Gables. The real estate market has is given home buyers are fantastic opportunity in acquiring real estate in Coconut Grove at a very low price. In real estate in many cases "timing is everything". Today you can buy the home of your dreams in Coconut Grove for a fraction of the price.       If you need mortgage to purchase your property in Camner Gables, then you first step is contact your local Florida bank. It is much easier to obtain a mortgage of a single family home verses a condo. If you are in the market for a condo, then your lender needs to check which are the developments that are approved for Fannie Mae or FHA financing. If you do not have a Lender that you are working with, we have several that are actively working in the marketplac...
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By Riley Smith, Coconut Grove Specialist
(EWM Realty, International)
Coconut Grove has everything I could ever want for my family,  a place to live that is close to the culture and energy of Miami while having the intimacy of a small village.  Here are a few of my experiences over the past few days that demonstrate why we live in such a special community.... Friday was a particularly busy day and I was trying to wrap things up at the office in time to cook dinner before the Dolphins game.  It was looking as if something was going to give....dinner or football.  But at 6:00 pm I got a call from my neighbor Larry Kritcher (an excellent cook by the way) and said that he had plenty of extras for dinner if we wanted to join them.   I had just enough time to head to Fresh Market grab a bottle of wine and get to the Kritcher's house.  We had a great meal, grea...
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By Philippe Diener
(Brown Harris Stevens)
Bayshore Villas Coconut Grove BAYSHORE VILLAS COCONUT GROVE Bayshore Villas Coconut Grove address Bayshore Villas Dr Coconut Grove, Fl. 33133 Bayshore Villas Coconut Grove About Bayshore Villas Coconut Grove Year Built: 1989-1992 Number of Floors: 3 Number of units: 25 Sq. Ft. range: 4,181 - 9,040 Beds: 2-4 Baths: 3-4 Bayshore Villas Amenities: - Gated community - Pool - Dock - 2 Tennis Courts - Centrally located in Coconut Grove - Lush Landscaped entrance - Private and exclusive Bayshore Villas Coconut Grove | Sale Rentals
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By Riley Smith, Coconut Grove Specialist
(EWM Realty, International)
I was running some numbers on the activity here in the Grove and thought I'd go ahead and post the results.   Here is how they break down: North Coconut Grove: There are 90 homes for sale in North Coconut Grove 48 are priced below $1,000,000 42 are priced above $1,000,000 7 of the properties are waterfront 8 are short sales 1 is a foreclosure (located on 27th Terrace, priced at $305,000) With 18 listings, EWM has the highest market share of any broker in the North Grove. South Coconut Grove There are 95 homes for sale in the South Grove 37 are priced below $1,000,000 58 are priced above $1,000,000 10 of the properties are waterfront 12 are short sales 1 is a foreclosure (located on Raynolds, priced at $294,900) Again, EWM has the highest market share with a total of 28 listings. If you ...
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By Riley Smith, Coconut Grove Specialist
(EWM Realty, International)
Due to our blog, we are contacted on a weekly basis by out of town buyers looking to relocate to Coconut Grove.   Over the years, I have taken out countless buyers for tours of Coconut Grove, Coral Gables and South Miami.   I love where I live and I am happy to show it off. Our team helps to make the relocation process smooth and stress free.  Prior to your initial visit we will discuss the type of home or condo that suits your individual needs.  We will email you photos and information of properties on the market that fit your criteria.  You will then choose several of these homes to view upon your arrival.  Myself, or a member of my team will block off a portion of our day to give you a general tour of the area and show you the homes that you have selected. You will certainly leave h...
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By Riley Smith, Coconut Grove Specialist
(EWM Realty, International)
Looking over my boards this morning, I noticed that the price per square foot figures in Coconut Grove are trending upward.  In my last report (May of 2010) the figure was $259.00 and as of today it is $290.  That is quite a jump in only a matter of months.  If you read my recent post Good Comps In North Coconut Grove you will see a few of the sales that helped to bring that number up.  This is great news for homeowners who have been waiting for a slight turnaround in the market.  Call me if you'd like a market valuation on your home.  It's a no pressure (no cost to you) discussion that will let you know your options in this market.  The best number to reach me on is my cell, 305.342.1623.To view this post in its original form, please visit my Coconut Grove Real Estate blog.
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By Emilio Cardenal
(irealty.pro)
Today there are fantastic buying opportunities in Coconut Grove. The housing inventory has started diminish, and the recovery has started. I have an optimistic prespective. I see it in our office, Interinvestments Realty.  We are selling double than we did last year. There are more buyers in the marketplace.      Are you going to pay cash for your property in Coconut Grove? Or are you considering obtaining a mortgage? If you would like to purchase your property with mortgage financing, them you get pre-qualified for a mortgage before you start looking at real estate. If you don't know anyone that is local in Coconut Grove, then feel free to contact one of our real estate sales agents in Interinvestments Realty, we will connect you with a mortgage expert that knows and has financed prope...
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By Riley Smith, Coconut Grove Specialist
(EWM Realty, International)
To view this post in its original form, please visit my Coconut Grove Real Estate blog.  Now that LeBron James is coming to Miami, a question for many Realtors in town is "WHERE WILL HE BUY?".  In my opinion, he has three choices: The Grove, The Gables or Miami Beach (there are rumors he already put in an offer on a $40,000,000 home in the Gables).  In the past, Coconut Grove has been the choice for many pro-basketball players such as Alonzo Mourning, Antoine Walker, Carlos Boozer and Kelvin Cato.  So Lebron, why not consider Coconut Grove?  Hey, we could share a table at Greenstreet or a bucket of beer at Scotty's. Here are a few homes Mr. James has to choose from in Coconut Grove:  3590 Crystal View Court | Asking Price: $12,900,000 3301 South Moorings Way | List Price: $14,900,000 L...
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By Riley Smith, Coconut Grove Specialist
(EWM Realty, International)
To view this post in its original form, visit my Coconut Grove Real Estate blog. There are currently 32 units for sale at the Ritz Carlton Residences in Coconut Grove.   Prices range dramatically from $340,000 (1 bedroom) all the way up to $3,600,000 (penthouse unit).  The least expensive 2 bedroom is Unit #605 currently priced at $545,000 (not a short sale or foreclosure) and features 1,540 square feet of living space.  It has been on the market since April of 2010 (listed by Coldwell Banker).   See photos below.  There have been 8 sales in the building so far this year.  Many people were shocked when some of these units closed at extreme discounts off their asking prices.   Unit #1801 (3 bedrooms) was asking $1,500,000 and closed at $1,050,000.  Unit #208 (3 bedrooms) was asking $975,...
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By Riley Smith, Coconut Grove Specialist
(EWM Realty, International)
Read this post in its original form by visiting my Coconut Grove Real Estate blog. The $1-2 million market in Coconut Grove has been very active recently.  As you can see below, although the homes are similar in price they are completely different in style, size, location and condition. 3561 Avocado Avenue has just 3 bedrooms, 3 baths with 4,125 square feet of living area on a 17,500 square foot lot.  The owners were asking $1,875,00 ($454.00 a foot).  It will be interesting to see what this house sells for.  If the owners got anywhere near asking price it will help values in South Grove. Similar asking price to the Avocado house, the above house in The Moorings (gated community) went under contract in a matter of days as an "Unapproved Short Sale" priced at $1,800,000 ($458.00 a foot)....
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By Riley Smith, Coconut Grove Specialist
(EWM Realty, International)
To view this post in its original form, please visit my Coconut Grove Real Estate blog.  There are currently 32 units for sale at the Ritz Carlton Residences in Coconut Grove.   Prices range dramatically from $340,000 (1 bedroom) all the way up to $3,600,000 (penthouse unit).  The least expensive 2 bedroom is Unit #605 currently priced at $545,000 (not a short sale or foreclosure) and features 1,540 square feet of living space.  It has been on the market since April of 2010 (listed by Coldwell Banker).   See photos below.  There have been 8 sales in the building so far this year.  Many people were shocked when some of these units closed at extreme discounts off their asking prices.   Unit #1801 (3 bedrooms) was asking $1,500,000 and closed at $1,050,000.  Unit #208 (3 bedrooms) was aski...
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By Riley Smith, Coconut Grove Specialist
(EWM Realty, International)
You may remember the post I wrote recently about contemporary homes in the Grove.  I mentioned that it was hard to find this style of home priced under $1,000,000.  As luck would have it today a contemporary house came on the market listed at $799,000.  The home features 3 bedrooms, 3 baths with 1,984 square feet of living space on a 6,888 sq. ft. lot.  I have not had the opportunity to preview the house yet, but I did see it several years ago and it was beautifully done then.   The house is located at 2544 Andros Avenue.  In case you are not familiar with the location, Andros Avenue is a really quiet, dead-end street in the North Grove. If you are interested in this house or any others in Coconut Grove and are looking for a realtor who specializes in this market, please contact me at ...
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By Riley Smith, Coconut Grove Specialist
(EWM Realty, International)
Everyone was buzzing about this house when it hit the market back in 2009.  It was an Approved Short Sale of a beautiful estate home on one of the Grove's best streets.   I had several clients interested right away but once we got inside we could see that it was extremely overpriced at $2,800,000.  Over the next year the house was reduced incrementally by over $1,000,000 and went under contract several times only to have every buyer back out. I know of at least 3 sets of buyers who submitted offers on the house but withdrew them due to the fact that  the house needed too much work.   It required renovation on the interior, mold remediation on the guest house and a reconfiguration of the bedrooms.  The house had two stairways to the upstairs, each to separate spaces which did not connec...
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By Philippe Diener
(Brown Harris Stevens)
Mutiny Park Condo Coconut Grove | Sale Rent MUTINY PARK CONDO Mutiny Park Condo Coconut Grove address2889 McFarlane Rd Coconut Grove Fl. 33133 Mutiny Park Condo Coconut Grove About Mutiny Park Condo Year Built: 2001Number of Floors: 22Number of units: 211Sq. Ft. range: 365-2,358Beds: Studi, 1-4Baths: 1-4Mutiny Park Condo Miami Amenities:- Secured entrance- Well appointed lobby- Covered Parking- Assigned parking- Pool and Spa- Gym- Centrally located in Coconut Grove
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By Riley Smith, Coconut Grove Specialist
(EWM Realty, International)
To view this post in its original form, please visit my Coconut Grove Real Estate Blog. I pride myself on "telling it like it is" in real estate and when it comes to the Center Grove townhouse market I have no problem admitting that things are TOUGH. There have been only 2 townhouses to close in Center Grove in the past 30 days (14 all year).  These are alarmingly low numbers for the townhouse market which has already taken a big hit over the past few years.   It seems that most buyer's interest has turned towards single family homes either out of preference or necessity. There are several contributing factors that have lead to the perfect storm here: It is extremely hard to get a townhouse to appraise right now (you may remember my recent letter to an appraiser). It is impossible to ge...
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By Philippe Diener
(Brown Harris Stevens)
Dixie Grove Residences Condo Coral Gables Dixie Grove Residences Condo Miami address 2630 SW 28 St Miami Fl. 33133 Dixie Grove Residences Condo Miami About Dixie Grove Residences Condo Miami Year Built: 2004 Number of Floors: 3 Number of units: 63 Sq. Ft. range: 400-870 Beds: Studio, 1 Baths: 1 Dixie Grove Residences Condo Miami Amenities: - Secured entrance - Gym - Assigned parking - Lush landscaping - Centrally located in Coral Gables Enter Miami Brickell Condos and Real Estate Website
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By Riley Smith, Coconut Grove Specialist
(EWM Realty, International)
There are so many short sales currently on the market that some people are touting 2010 as "the year of the short sale".   For those of you who aren't familiar with the term, short sales occur when a lender allows a property to sell for less than what is owed on the mortgage and takes a loss. Here are a few tips that I have learned from my many short sale transactions: What is the time frame on a short sale property? It is my experience that buyers can wait 4 to 6 weeks just to receive a counter offer on an unapproved short sale.  Once the buyer and bank agree on a sale price the deal can typically close in 30 days.   There are new government regulations that have been put in place to speed up the process but I have not personally experienced any change in the timing.   Truth be told, t...
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By Riley Smith, Coconut Grove Specialist
(EWM Realty, International)
View From The Residences of Ritz Carlton, Coconut Grove I was over at The Icon in downtown Miami this weekend and believe it or not there were buyers lined up outside the sales office.  There are some buildings in Miami right now that are in high demand and other buildings that are just......not. For instance, The Residences of Ritz Carlton in Coconut Grove currently has 42 units on the market and has only had 9 sales since January of 2009.  Most of the units that sold sat on the market for over a year. The average List Price/Square Foot at The Ritz is currently $493.00 and the average Sale Price/Square Foot is $392.00.  Units currently range in price from $360,000 to $3,600,000. I had two great listings at The Ritz Carlton last year and rarely had showings.  We did everything possible...
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By Riley Smith, Coconut Grove Specialist
(EWM Realty, International)
There are 90 single family homes in Coconut Grove priced over $1,000,000 and we have just seen the first home sell in that price range in 2010.  The home is located in North Coconut Grove at 2990 Emathla Street.  I showed the house a few times to my clients and it was a beautiful home with a great floor plan.  Listed at $1,800,000, the house closed for $1,665,000 ($389.00 per square foot) which is a great price for this one of a kind property. Listed by Coldwell Banker. 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 follow-up email. If you are interested in buying or selling real estate in Coconut Grove and are looking for a Grove specialist, please contact ...
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