Is It Still Possible To Find A Distressed Sale In Coral Gables

October 13th, 2014 Written By


Categorized under Coral Gables Real Estate

Despite the unbelievable turnaround in the Coral Gables real estate market over the past few years, we are still seeing some distressed properties come across the MLS.  There have been a total of 17 short sales and 12 foreclosures sold in 2014 in Coral Gables.  The average sale price of these homes has been $600,000 ($250.00/sq. ft.).

There are 21 short sales and 4 foreclosures pending/under contract in Coral Gables and approximately 5 short sales and 5 foreclosures currently for sale.

While it is still possible to snag a distressed sale, you typically have to be a cash buyer and willing to pay close to or above asking price.

Check out the spreadsheet below which shows all of the short sales and foreclosures which have closed in Coral Gables this year.  If you would like more information about any of these sales, please feel free to contact us.

Distressed Sales Coral Gables

We are Coral Gables real estate specialists.

If you are interested in buying or selling real estate in Coral Gables, we would love the opportunity to work with you.  We can be reached anytime at 305-342-1623 or by sending us a message here.

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Just Listed In Coral Gables! 806 Messina Avenue

October 7th, 2014 Written By


Categorized under Coral Gables Real Estate

Messina Collage

We just listed a great home with 3 bedrooms, 2 baths + office/den for under $600,000 in North Gables.  This is a fantastic property that I know will sell fast.  The home offers light filled living spaces with new hardwood floors, updated master bath, California closets and impact glass.  French doors in the family room open to a charming Chicago brick terrace and lush tropical garden which is perfect for entertaining.

Details of 806 Messina Avenue in Coral Gables:

Please contact Liz Perdigon of The Riley Smith Group at 786-543-5777 to set up a showing.

We are Coral Gables real estate specialists.

If you are interested in buying or selling real estate in Coral Gables, we would love the opportunity to work with you.  We can be reached anytime at 305-342-1623 or by sending us a message here.

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731 Minorca Avenue Sells $84,000 Above List Price!

September 29th, 2014 Written By


Categorized under Coral Gables Real Estate

Minorca

731 Minorca Avenue listed by Jeannett Slesnick hit the market with a description that read:

“Stunning, updated/expanded home close to CG Country Club and downtown Gables. Enter large foyer, then step into LR with carved stone fireplace & cathedral ceiling. Formal DR leads to the Fam Rm that opens to a covered back porch and lushly landscaped/lighted back yard. The new kitchen has breakfast area, plus dining counter. 3 large bdrms/2 baths. Master is huge with walk-in closet. Like a brand new home as most major updates have been completed including impact windows.  FIRM PRICE OR ABOVE LIST PRICE EXPECTED

They weren’t joking with that caveat!  The home went under contract in days and sold $84,000 above asking price.  This was a 1930′s home that had been well updated and expanded.  It offered 2,954 square feet of living space on a 11,250 square foot lot with 3 bedrooms, 2 baths.  Special features included carved stone fireplace, cathedral ceilings & impact windows and doors.  The home closed for $1,180,000.

With inventory so low in today’s market, a well priced home garners a huge amount of interest and typically sells at or above list price.

The Coral Gables real estate market is changing on a daily basis.  If you are interested in buying or selling and want to work with an experienced Realtor who knows the numbers and tracks the sales, please contact me directly at 305-342-1623. 

Coral Gables Homes For Sale Under $1,000,000 | Lowest Level In 5 Years

September 22nd, 2014 Written By


Categorized under Coral Gables Real Estate

Gables Chart

 

The chart above shows the number of homes for sale in Coral Gables which are priced under $1,000,000.  You can see that we are currently at the lowest inventory level in over 5 years.   These figures are a result of rising home prices as well as increased activity in this price point.  This segment of the market is by far the most active in Coral Gables right now as buyers quickly snap up entry-level homes.

While this is great news for sellers, it has led to frustration among many buyers.  When a good home priced under $1,000,000 hits the market it is common for there to be multiple offers with the highest and best offer securing the deal.

An interesting figure about this segment of the market is that sale prices for $1,000,000 and below homes have increased from $500,000 to $600,000 since 2010.

The Coral Gables real estate market is changing on a daily basis.  If you are interested in buying or selling and want to work with an experienced Realtor who knows the numbers and tracks the sales, please contact me directly at 305-342-1623.

Land In Coral Gables Sells For $58.00/Square Foot

September 8th, 2014 Written By


Categorized under Coral Gables Real Estate

Land for sale in Coral Gables

With home prices on the rise, developers are circling Coral Gables real estate looking for opportunities to build.  The property at 6505 Castaneda Street sold for full price in just 2 days after hitting the market.  The property offered 17,078 square feet of land in a prime location.  Although there was a structure on the lot, the property sold for land value at $1,000,000 or $58.00/square foot.  Listed by Dee Quintero of EWM Realty.

Currently in Coral Gables the average sale price per square foot of non-waterfront lots is $55.00, while the average waterfront lot is selling for over $100.00 per square foot.

There have been 14 other lots sold in Coral Gables this year, see details below:

  1. 2 Arvida Parkway | Sale Price: $6,125,000 | Waterfront and Gated Community | $161.00/Sq. Ft.
  2. 10350 Old Cutler Road | Sale Price: $1,300,000 | $29.00/Sq. Ft.
  3. 1507 Cordova Street | Sale Price: $600,000 | $55.00/Sq. Ft.
  4. 432 Madeira Ave. | Duplex Lot | Sale Price: $425,000 | $42.00.Sq. Ft.
  5. 450 Como | Sale Price: $1,500,000 | $60.00/Sq. Ft.
  6. 6975 Sunrise Terrace | Sale Price: $5,000,000 | Waterfront and Gated Community | $187.00/Sq. Ft.
  7. 2 Arvida Parkway | Sale Price: $6,159,000 | Waterfront and Gated Community | $112.00/Sq. Ft.
  8. 111 San Souci Drive | Sale Price: $950,000 | $55.00/Sq. Ft.
  9. 816 Paradiso Avenue | Sale Price: $600,000 | $71.00/Sq. Ft.
  10. 4940 Hammock Lake Dr. | Sale Price: $1,830,000 | $36.00/Sq. Ft.
  11. 145 Leucadendra Dr. | Sale Price: $7,000,000 | Waterfront and Gated Community | $193.00/Sq. Ft.
  12. 0 Cantoria Ave | Sale Price: $650,000 | $59.00/Sq. Ft.
  13. 0 Calibira Ave | Sale Price: $490,000 | $75.00/Sq. Ft.
  14. 12 Sorolla Ave | Sale Price: $470,000 | $62.00/Sq. Ft.
We are Coral Gables real estate specialists.

If you are interested in buying or selling real estate in Coral Gables, we would love the opportunity to work with you.  We can be reached anytime at 305-342-1623 or by sending us a message here.

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Top Broker In Coral Gables | EWM Realty International Ranks #1

August 26th, 2014 Written By


Categorized under Coral Gables Real Estate

Top Broker In Coral Gables

With so many real estate brokerage firms out there, it can be hard to find the best company who will give your home the most exposure and offer the best service.  I am proud to announce that my firm, EWM Realty International, is the #1 top choice for buyers and sellers in Coral Gables.  Check out the chart above which shows that we dominate the Coral Gables real estate market.

How do we do it? We combine traditional marketing channels and cutting edge strategies to reach maximum exposure.  Through our affiliation with Christie’s Great Estates we have a network of more than 25,000 agents across 40 countries offering an unmatched level of global viability.   Our listings are also showcased on LuxuryPortfolio.com which is an award-winning website marketing over 25,000 listings and featuring more $1,000,000+ homes than competitor sites.

For our buyers, EWM Realty International has a relocation team to help streamline the moving process reducing stress, energy and money.

Above all that, we are known for having top-notch, professional agents who will do whatever it takes to help you find the right home, or get yours sold.

If you are interested in learning about the benefit of hiring an EWM real estate agent and would like a no pressure buyer or seller consultation, please contact me directly at 305-342-1623 or send me a message here.

Pocket Listing In North Gables!

August 21st, 2014 Written By


Categorized under Coral Gables Real Estate

Coral Gables Home For Sale

I wanted to give our blog reader’s the first opportunity at a Coral Gables listing we have coming online after Labor Day.  This great North Gables home has tons of curb appeal. The home offers 3 bedrooms, 2 bathrooms and brand new hardwood floors.  Please call our luxury real estate specialist Liz Perdigon at 786-543-5777 if you would like more information.

We are Coral Gables real estate specialists.

If you are interested in buying or selling real estate in Coral Gables, we would love the opportunity to work with you.  We can be reached anytime at 305-342-1623 or by sending us a message here.

Visit Our Other Miami Real Estate Blogs:
Coconut Grove Real Estate | Brickell Condo Blog Key Biscayne Real Estate

Coral Gables Waterfront Homes | Market Update

August 19th, 2014 Written By


Categorized under Coral Gables Waterfront Homes

Coral Gables Waterfront Homes

I was doing an analysis of Coral Gables waterfront homes for a client of mine and created these charts to show him where the market has been over the past few years.

As you can see, prices are up significantly this year and have made a nice recovery from the drop we experienced in 2013. Right now Coral Gables waterfront homes are selling over $600.00/square foot.  These are some of the highest average figures we have seen in the history of Coral Gables real estate.  Keep in mind that prices can vary drastically depending on the type of waterfront home you are looking for.  Homes that have direct bay views, for example, are selling over $800.00/square foot while those with limited ocean access can come in as low as $400.00/square foot.

Coral Gables Waterfront Homes In Coral Gables

The market is changing rapidly and it is more important than ever to use a knowledgeable, experienced Realtor.  If you are interested in setting up a buyer or seller meeting with us, please contact me directly at 305-342-1623 or send us a message here. 

Coral Gables Homes Have Increased $1,300 Per Day This Year!

August 13th, 2014 Written By


Categorized under Coral Gables Real Estate

Santa Maria

If you have been on the fence about buying a home, then this figure will certainly light a fire under you.  Per my calculations, the average home in Coral Gables has increased an astonishing $1,300 per day every day this year.   If that doesn’t make you want to get something under contract NOW, then I don’t know what will.  The market is showing no signs of slowing down and if you wait another 6 months the home you can afford today may be out of your price range.

Home values are rising at a quick pace.  Last year, the average home in Coral Gables sold for $1,082,454 and this year they are selling for an average of $1,373,806.  They have also increased from $332.00/square foot last year, up to $379.00/square foot this year.

Coral Gables isn’t the only city in South Florida which is seeing gains.  According to the Miami Association of Realtors, median sales prices increased by 6% in June compared to the same month last year and the number of sales increased by 2%.

The market is changing rapidly and it is more important than ever to use a knowledgeable, experienced Realtor.  If you are interested in setting up a buyer or seller meeting with us, please contact me directly at 305-342-1623 or send us a message here.

 

 

Former Housewives Of Miami Star Ana Quincoces Lists Coral Gables Home

August 4th, 2014 Written By


Categorized under Coral Gables Real Estate

Realtorcom snapshot

Realtor.com reported last week that the former Real Housewives of Miami star Ana Quincoces listed her Coral Gables home for $2,400,000.  Located at 3310 Alhambra Circle next to the historical Biltmore Hotel and Golf Course, this property offers 4,369 square feet of living space on a 1/2 acre corner lot.  The home is American Colonial style and features a grand foyer with a stunning parquet compass star as the focal point. Some of the special features of the home include a gourmet kitchen which opens into a spacious family room, formal living and dining room and a large terrace perfect for entertaining which overlooks the sparkling pool and lush, private gardens.  The property is listed by Meg DelValle and Leslie Jones of EWM Realty International.

We are Coral Gables real estate specialists.

If you are interested in buying or selling real estate in Coral Gables, we would love the opportunity to work with you.  We can be reached anytime at 305-342-1623 or by sending us a message here.

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Coconut Grove Real Estate | Brickell Condo Blog Key Biscayne Real Estate

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