Coral Gables Real Estate | Coral Gables Real Estate Blog » Buying in Coral Gables

Short Sale In Snapper Creek Lakes

rileysmith — Mon, 16 Aug 2010 20:49:44 +0000

A short sale (unapproved) in Snapper Creek Lakes has recently come on the market. The home was built in 2006, features 6 bedrooms, 7 baths, 8,443 square feet of living space on a 57,449 square foot lot and is listed at $3,950,000 (recently reduced by $500,000). Keep in mind that short sales can take anywhere from 3 to 9 months to close. I have completed several short sale transactions for my clients and it certainly takes an extreme amount of patience and time. However, if you are willing to suffer through the process there are some great deals out there.

This house is listed by Elena Kemper and Libby Klein of EWM Realtors, Inc. If you would like to view this home I would be happy to schedule an appointment for you.

If you are interested in buying, selling, building or renting in Coral Gables and are looking for an experienced realtor to assist you, please don’t hesitate to call me on my cell at 305.342.1623 or send me a note here.

A Coral Gables Foreclosure Story

rileysmith — Mon, 09 Aug 2010 15:10:04 +0000

The house located at 4114 Santa Maria Street slipped into foreclosure a few months ago. This house, along with many other foreclosure properties do not come on the market out of nowhere. The house had been on the market for years, first as a non-distressed home, then as a short sale and finally as a foreclosure.

Take a look at the pricing history of this house:

Do many short sales turn into foreclosures? No, but most foreclosures have been listed as short sales at one time or another.

To view a list of all of the foreclosures that have sold in Coral Gables, please click here. To view a list of all Coral Gables properties that are currently on the market, click here.

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If you are interested in buying, selling, building or renting in Coral Gables and are looking for a real estate agent who specializes in the area, please feel free to contact me at 305.342.1623 or send me a note here.

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Basketball Courts, Summer Kitchens and Wine Cellars In Coral Gables

rileysmith — Thu, 29 Jul 2010 14:49:52 +0000

Sometimes buyers have very specific “wants” on their wish list. In the past I have had buyers ask for a wide array of things including a summer kitchen, a tin roof, a saline pool, a wine cellar or even a cigar room! Check out some of these Coral Gables homes that offer some very special features.

11035 Marin Street (photo above) | 5 bedroom, 6 baths | Two Boat Slips, Custom Entertainment Center and Wet Bar, Basketball Court, Outdoor Pavillion With Wet Bar | Asking Price: $3,250,000

3309 Granada Boulevard (photo above) | 6 Bedrooms, 6 Baths | Completed in Fall of 2010 | Wine/Cigar Room and Library | Asking Price: $2,750,000

400 Arvida Parkway (photo above) | 8 Bedrooms, 9 Baths | Chihuly Chandelier, Wine Cellar, Media Room, Library/Music Room, Summer Kitchen | Asking Price: $20,500,000

In my opinion, a home with a basketball court beats out one with a summer kitchen any day!

Homes For Sale Near The University of Miami Campus

rileysmith — Thu, 27 May 2010 15:31:07 +0000

Are you a professor or student who wants to live close to the University of Miami campus? If so, you may be surprised by the price point of the homes that surround the school. Even though the University has a prime location (just south of The Biltmore Hotel and Golf Course) prices for a move in ready home are as low as $435,000. Click here to view homes currently for sale in the area.

Below are two great homes for sale in the area surrounding UM’s campus:

1533 Mantua Avenue (photos below) | 4 Bedroom, 3.5 Bath | 3,435 Sq. Ft. | 10,5000 Sq. Ft. Lot | List Price: $899,000 | Listed by Altara Realty

If you are interested in buying or selling real estate in the Coral Gables area and are looking for a local specialist, please don’ t hesitate to contact me at 305.342.1623 or send me a note here.

The “Little Gables” Offers Buyers Great Value

rileysmith — Wed, 12 May 2010 13:44:23 +0000

The area known as “Little Gables” is bordered on 3 sides by the City of Coral Gables but is technically located in un-incorporated Miami Dade County. The Little Gables looks and feels just like Coral Gables but the price points are much lower and buyers tend to get more for their money. The average home in the Little Gables right now is priced at about $300,000. The list price per square foot is $223.00 and the sale price per square foot over the past 12 months has been $165.00. These are well below the PPSF numbers we see in Coral Gables.

The Little Gables has an excellent neighborhood association that was founded in 1983. They use Miami-Dade County’s police, fire and trash services.

To view a list of homes currently for sale in The Little Gables click here.

If you are interested in buying or selling houses in Coral Gables and are looking for an experienced realtor don’t hesitate to contact me at 305.342.1623 or send me a message here.

New Construction Homes For Sale In Coral Gables

rileysmith — Mon, 26 Apr 2010 15:29:24 +0000

I was doing some research for a client who is looking for a new construction home in Coral Gables and thought I would post some of the numbers I computed.

There are roughly 30 new construction homes available for sale in Coral Gables. 17 of these are non-waterfront while the others are either canal or bay front properties. The average list price per square foot of new construction (non-waterfront) in the Gables is $464.00 while the average sale price per square foot of new construction (non-waterfront) in the Gables is $358.00. That is quite a difference and something to keep in mind when negotiating contracts on these homes. But don’t forget that these numbers are only averages and each property must be valued individually by your realtor.

Click here to view a list of all (waterfront and non-waterfront) new construction homes for sale in Coral Gables.

If you are interested in buying or selling real estate in Coral Gables and are looking for an experienced realtor, please don’t hesitate to contact me on my cell at 305.342.1623 or send me a note here.

Miami Real Estate vs. Stock Market…..Who Wins?

rileysmith — Tue, 20 Apr 2010 15:55:35 +0000

No doubt about it, EWM stays on top of the figures. Check out this chart that was recently released to our agents. The chart shows the return on investment (ROI) for real estate in Miami Dade compared to the stock market. As you can see, real estate has far outperformed investments in stocks. This chart is just more confirmation that now is the time to buy in Miami!

Click on graph to view larger.

If you are interested in buying or selling real estate in the Miami area and are looking for an experienced realtor, please contact me at 305.342.1623 or send me a note here, I would be happy to assist you!

Originally Priced At $825,000, Sold Friday For $398,000

rileysmith — Mon, 19 Apr 2010 15:22:24 +0000

My buyers just closed on this home located at 529 Altara Avenue in Coral Gables. The house had been on the market for years and was originally priced at $825,000 back in 2006. My clients purchased it for $398,000. This is just another example of sellers chasing the market!

The home is located on a great street in Coral Gables close to Merrick Park and Coconut Grove. Features included: 1,788 square feet of living space with 3 bedrooms, 2 baths on a 7,560 square foot lot.

Have A $500,000 Budget? Here Is What You Can Find In Coral Gables

rileysmith — Tue, 23 Mar 2010 00:12:39 +0000

The $500,000 market is very active right now in terms of sellers and buyers. Every day it seems that new listings in this price range are coming on the market in Coral Gables. Click here to scroll through the entire list of homes in Coral Gables priced under $500,000. Below is a new listing by EWM priced at $499,000. Located at 525 Miller Road in prime south Gables location, this home features an oversized lot with 3 bedrooms, 2 baths. It needs some updating on the interior, but it is a great house with great bones.

The graph below shows the average “Price Per Square Foot” for homes in Coral Gables under $500,000. Sellers in this price range are getting much more for their money compared to just a year ago.

Avg. Price Per Sq. Ft. – Coral Gables Homes Priced Under $500,000

If you are interested in seeing this property or any others in Coral Gables I would be happy to assist you in your home search. Please give me a call on my cell at 305.342.1623 or send me a note here.

What Do You Get For Your Money In Coral Gables?

rileysmith — Mon, 01 Mar 2010 16:05:07 +0000

Taking a look at homes in Coral Gables that sold recently between $500,000 to $1,000,000 they had an average of 3.5 bedrooms, 2.5 baths and 2,500 square feet of living space. The price range between $1,000,000 to $1,500,000 had an average of 4.8 bedrooms with 4.5 baths and 4,159 square feet of living space.

An interesting thing to note is that as you get higher up in price range the Sale Price/List Price ratio drops from 91% to 87%. In other words, the higher end homes seem to be taking slightly more off of their list price than the mid-priced homes.

If you are interested in buying or selling real estate in Coral Gables and are looking for an experienced Realtor, please contact me at 305.342.1623 or send me a note here. To receive a custom market snapshot of your current property just enter your home address here.