Archive for the 'Buying Real Estate In Coral Gables' Category
Old Spanish Homes In Coral Gables
August 8th, 2011 Categories:Buying Real Estate In Coral Gables, Coral Gables Real Estate, Selling Real Estate In Coral Gables
Many buyers tell me that they want to buy an Old Spanish style home because they appreciate the charm and character that this architecture has to offer. Right now Old Spanish homes in Coral Gables range from a small 2 bedroom home priced at $250,000 and go all the way up to a waterfront estate in Cocoplum listed for $7,450,000. To scroll through Old Spanish homes for sale in Coral Gables click here. Below is a sample of some Old Spanish homes currently on the market in Coral Gables.
1332 Asturia Avenue | 4,033 square feet of living space | 6 bedrooms, 3.5 baths | List Price: $1,350,000 | Listed by Laura Mullaney of Coldwell Banker
5309 Alhambra Circle | 4,226 square feet of living space | 5 bedrooms, 4 baths | List Price: $1,290,000 | Listed by Renee Schafer of ReMax
1131 Obispo Avenue | 2,292 square feet of living space | 4 bedrooms, 3 baths | List Price: $624,900 | Listed by Rex Wilkinson of EWM Realtors.
If you are interested in buying or selling an Old Spanish home in Coral Gables and are looking for an experienced realtor, please don’t hesitate to contact me on my direct line at 305-342-1623 or send me a message here.
Homes Sold East vs. West of US1 In Coral Gables
May 26th, 2011 Categories:Buying Real Estate In Coral Gables
Some buyers are very clear as to whether they want to live east of US1 or west of US1 when looking for homes in Coral Gables. Some think that one or the other is more/less prestigious, safer, quieter, less traffic etc, the answer just depends on who you talk you. In my opinion, they both have great qualities. There are some very historic and beautiful neighborhoods (and golf courses) located west of US1 while the gated and waterfront communities are on the east of US1.
When you break up the sales numbers, the area west of US1 has sold 1/3 more homes this year than the area east of US1. Both areas have approximately the same number of homes for sale. The homes east of US1 garner a much higher value, selling on average $83.00 per square foot more. The difference here of course is credited to all of the waterfront properties and gated communities on the east side of the highway.
In the end, the decision on where to live in Coral Gables will come down to personal preferences. I always encourage my buyers to drive around the neighborhoods at all times of the day to get a good feeling for what a particular community is like.
Short Sales vs. Regular Sales In Coral Gables
May 19th, 2011 Categories:Buying Real Estate In Coral Gables
I had a question from a client yesterday regarding the difference in value between a short sale and a typical sale. I know this is a topic that many people are curious about so I thought it might be helpful to write a short post about it.
When discussing short sales it is very hard to make a blanket statement concerning the amount of extra value you may receive. Going back 18 months in Coral Gables the average “sale price per square foot” was $270.00. For short sales during that same time-frame you are looking at an average “sale price per square foot” of $216.00. This means that on average short sales are selling 20% off of market value. These numbers are very deceiving however because most short sales tend to be priced below $1,000,000 so you don’t have those ultra-luxury Gables homes to bring up the average. Also, many of the short sales out there have deferred maintenance which certainly has an impact on value.
Just about everything in real estate needs to be evaluated on a case by case basis. All short sales are not valued equally. Just because it has been given that label does NOT mean that you are getting a deal.
I know the numbers, I analyze the market, my clients make better decisions. If you are interested in buying, selling, building or renting and are looking for a real estate agent who specializes in Coral Gables, please feel free to contact me at 305.342.1623 or send me a note here.
List Price vs. Rental Price In Coral Gables
May 4th, 2011 Categories:Buying Real Estate In Coral Gables
If you follow the news, you may have seen a report recently by Trulia that ranked Miami a top spot to buy vs. rent. I think one reason that sales have been strong this year is that buyers are running the numbers and are coming to this realization on their own.
I always think that it is interesting to take a look at homes that are listed on the market for sale as well as for rent. Especially if you are debating owning vs. renting, it is helpful to know that you can buy the home for “x” amount or rent the same exact home for ”y” amount. By finding a property offerring both of these options, you can have an exact ”rent ratio” that will help you make the right choice given your financial situation.
Keep in mind, a seller may continue to market the property for sale even though they have rented it out. The terms of when and with what frequency the owner can show the property while the renter is living there should be detailed in the lease agreement. In my experience, many tenants refuse to allow showings of the property until the last month of their lease.
Below is a sample of homes in Coral Gables that are currently on the market for rent as well as purchase:
825 South Alhambra Circle | Listed For Sale $1,695,000 and For Rent $8,250 Per Month | Listed By Audrey Ross of EWM
4430 Ingraham Highway | Listed For Sale: $1,070,000 and For Rent $5,000 Per Month | Listed By Linda Bassitt of One Sotheby’s
526 Zamora Avenue | Listed For Sale: $565,000 and For Rent $3,950 Per Month | Listed By Line Landereethe of Beachfront Realty
I know the numbers, I analyze the market, my clients make better decisions. If you are interested in buying, selling, building or renting and are looking for a real estate agent who specializes in Coral Gables, please feel free to contact me at 305.342.1623 or send me a note here.
Homes For Sale In Sunrise Harbour, Coral Gables
April 15th, 2011 Categories:Buying Real Estate In Coral Gables, Coral Gables Real Estate
The Sunrise Harbor/Sunrise Point neighborhood is a very popular area for buyers in Coral Gables. It has a very family friendly vibe, is located just steps from Biscayne Bay and is only 5 to 10 minutes from downtown Gables and Grove. Right in the middle of this great community lies Sunrise Park which happens to be one of my favorite places to take my 4 year old daughter.
There are several homes on the market right now in Sunrise Harbour. Waterfront homes start at $2,200,000 and non-waterfront start at $749,000. To view all homes for sale in the Sunrise Harbour area of Coral Gables, please click here.
If you are interested in buying, selling, building or renting and are looking for a realtor who specializes in Coral Gables, please feel free to contact me at 305.342.1623 or send me a note here.
How Did Coral Gables Fare In The First Quarter Of 2011?
April 11th, 2011 Categories:Buying Real Estate In Coral Gables, Coral Gables Real Estate
There were 89 sales in Coral Gables during the first quarter of 2011 with an average sales price of $849,165 and an average price per square foot of $250.00. During the first quarter of 2010, there were roughly the same number of sales however price point and values were much higher with an average sale price of $1,038,000 and an average price per square foot of $275.00.
It is good to see that activity remains high in the market however it is somewhat disconcerting that values have dropped by $25.00 per foot. When you take a deeper look into the closed sales that are bringing that figure down, it is not surprisingly the short sales and foreclosures (accounting for 30 of the 89 closed sales). Short sales are closing at an average of $229.00 per foot, and foreclosures at $171.00 per foot. I would say that this drop in value has more of an impact on the homes priced $500,000 and below than anywhere else. Other segments of the market have remained steady such as the $1,000,000 to $2,000,000 price point which continues to run about $330.00 per square foot.
It is especially important right now to use a LOCAL realtor who tracks the market, knows the numbers and can help you make a better decision. If you are interested in buying, selling, building or renting and are looking for a realtor who specializes in Coral Gables, please feel free to contact me at 305.342.1623 or send me a note here.
Foreclosures In Coral Gables
March 24th, 2011 Categories:Buying Real Estate In Coral Gables, Coral Gables Real Estate
Remember a few years ago when every buyer wanted to buy a foreclosure? Nowadays it seems that the desire to buy a foreclosure has diminished and most buyers just want to enter into a regular transaction as opposed to one where they have to bid against other buyers and do significant repair work to the neglected home.
In any case, foreclosures are still out there and right now in Coral Gables there are 7 (single family homes) on the market. The foreclosures range in price from $315,000 all the way up to $1,499,000. Click here to scroll through the current foreclosures in Coral Gables. The home located at 1524 Algardi is probably the best deal, listed for $415,800 (or $189.00 per square foot), the home features 4 bedrooms/3 baths with 2,196 square feet of living space on a 8,250 square foot lot. It is in a good location very close to the Biltmore Golf Course and Riviera Country Club. The house has been on the market since November, but a price reduction was made in early March.
If you are interested in buying, selling, building or renting and are looking for a realtor who specializes in Coral Gables, please feel free to contact me at 305.342.1623 or send me a note here.
Coral Gables Home For Sale In Sunset Elementary School District!
February 23rd, 2011 Categories:Buying Real Estate In Coral Gables
I just listed this South Coral Gables home located at 6868 Corsica Street. Just a block away from the highly sought after Sunset Elementary School this Bermuda Colonial Style home offers 3 bedrooms and 3 baths with 3,200 square fet of living space. It also features a formal living and dining room that open onto a private outdoor terrace, fireplace, custom built-ins, parquet wood floors and crown moldings. There is a spacious upstairs loft area designed by local architect Barry Sugerman with cathedral style open beamed ceilings as well as a full bedroom and bath that could be converted to a master suite. The house is being offered at $775,000. For more photos of the home, click here.
If you are interested in buying, selling, building or renting and are looking for a real estate agent who specializes in Coral Gables, please feel free to contact me at 305.342.1623 or send me a note here.
Cash Deals In Coral Gables
February 22nd, 2011 Categories:Buying Real Estate In Coral Gables
Approximately 16 of the 36 single family homes sold in Coral Gables in 2011 have been cash deals. A cash contract doesn’t necessarily mean that the buyer will not get financing it simply means that the contract is not CONTINGENTon getting financing or an appriasal. A seller will sometimes take a lower price if the offer is made in all cash because he/she knows that they are dealing with a serious buyer who can close quickly after inspections.
Thanks to the lending crisis and appraisal issues, the number of cash transactions has drastically increased over the last few years. EWM recently reported that 52% of their transactions in 2010 were cash deals.
If you are interested in buying, selling, building or renting and are looking for a real estate agent who specializes in Coral Gables, please feel free to contact me at 305.342.1623 or send me a note here.
Incredible New Listing On North Greenway, Coral Gables
February 4th, 2011 Categories:Buying Real Estate In Coral Gables, Coral Gables Real Estate
Yesterday I stopped in to see my colleague Mercedes Saewitz’s new listing at 2000 North Greenway Drive in Coral Gables. This is a very special new construction home designed by Coral Gables architect Mike Sardinas. The home offers 6,436 square feet of living area on a 17,469 square foot (corner) lot with 6 bedrooms and 6 baths. There are many special features including antique marble and distressed oak floors, double fireplace, impact windows and a state of the art gourmet kitchen. The home is priced at $3,595,000. To view more photos of this home click here. To view other Coral Gables homes that are for sale in this price range and area, click here.
To view other recent Coral Gables homes that have sold in this price range and area, click here.
I know the numbers, I analyze the market, my clients make better decisions. If you are interested in buying, selling, building or renting and are looking for a real estate agent who specializes in Coral Gables, please feel free to contact me at 305.342.1623 or send me a note here.
