Homes For Sale Near The University of Miami Campus
May 27th, 2010 Categories:Buying in Coral Gables
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
5111 Donatello Street (photos below) | 3 Bedrooms, 2 Baths | 2,024 Sq. Ft. | 9,925 Sq. Ft. Lot | List Price: $539,000 | Listed by EWM Realtors, Inc.
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.
Pending In Cocoplum – $6,250,000 Home
May 26th, 2010 Categories:Coral Gables Gated Communities
The above home priced at $6,250,000 just went under contract in Cocoplum. When it closes, it will be the highest priced home to sell in Cocoplum all year. Details of the home include 6 bedrooms, 6 baths with an astounding 9,470 square feet of living space on a 34,333 square foot lot. Special features include a dramatic reflection pool with fire bowl, loft library, butlers pantry, wine cellar, 2 staff rooms, 3 fireplaces, 2 laundry rooms and a summer kitchen. The house is listed by Shelton and Stewart.
Take a look at this year’s closed sales in Cocoplum:
- 7270 West Lago Drive | Sale Price: 3,095,000 | 6 Bedroom, 6.5 Bath | 5,769 Sq. Ft.
- 112 Palmoa Drive | Sale Price: $2,950,000 | 5 Bedroom, 5 Bath | 5,893 Sq. Ft.
- 8250 Los Pinos Circle | Sale Price: $2,600,000 | 6 Bedroom, 6 Bath | 7,395 Sq. Ft.
- 150 Rosales Court | Sale Price: $2,550,000 | 6 Bedroom, 6 Bath | 5,131 Sq. Ft.
- 386 Isla Dorada | Sale Price: $2,300,000 | 6 Bedroom, 6 Bath | 7,216 Sq. Ft.
- 7400 Monaco Street | Sale Price: $1,500,000 | 4 Bedroom, 3 Bath | 4,608
If you are interested in buying or selling in Coral Gables and are looking for a local realtor who specializes in the area, don’t hesitate to contact me at 305.342.1623.
Coral Gables Foreclosure Market
May 25th, 2010 Categories:Coral Gables Real Estate
We have fewer and fewer clients who are interested in buying foreclousres these days. In my opinion, the negatives outweigh the positives for a typical buyer. First, you usually have to pay with cash. Second, foreclosures are poorly maintained and are missing appliances which can be discouraging. Finally, if the house is priced below market value you must be willing to put in an offer on the spot which makes buyers nervous.
Lets take a look at the Coral Gables foreclosure market in 2010:
- There have been 17 foreclosures sold.
- Only 4 have sold above list price.
- Average selling price: $442,000
- Average Sale/List Price Ratio: 93%
- Average Sale Price Per Square Foot: $177.00 (The rest of Coral Gables is at $280.00)
- Sales Prices range from $615,000 to $63,500
There are currently only 7 foreclosures for sale in Coral Gables and they have all come on the market within the past few months. To view a list of these Coral Gables foreclosures, please click here. The average list price per square foot of these properties is $307.00. It has been my experience that if a foreclosure doesn’t sell within the first few weeks of coming on the market then it was not priced correctly. Buyers should be aware that not all foreclosures are priced below market value.
If you are interested in buying or selling in Coral Gables and are looking for a local realtor, don’t hesitate to contact me at 305.342.1623.
Deering Bay Yacht and Country Club – Upcoming Events
May 21st, 2010 Categories:Coral Gables "Golf Course Front" Properties
Deering Bay has some exciting things going on this summer for its members.
- Sonoma vs. Napa Valley Wine Tasting on May 29th with fine wine specialist Julie Mushett
- “Dive-In Movie Night” on June 18th features dinner and a movie poolside at 7:30 pm. A great event for the kids!
- Summer Camp beginning on June 18th. Whether its arts, golf, swimming or crafts the Deering Bay Summer Camp offers the perfect mix of activities for children looking to beat the heat.
To view all real estate currently for sale in Deering Bay, please click here. I have an agent on my team who lives in Deering Bay and specializes in Deering Bay real estate. She offers a very unique perspective on the market and the community there. If you are interested in seeing any properties in Deering Bay please give me a call at 305.342.1623 or send me a note here, our team would be happy to assist you.
Cocoplum – Market Update
May 20th, 2010 Categories:Coral Gables Gated Communities
Cocoplum has $205,000,000 worth of real estate on the market today. This large figure is comprised of 51 homes for sale priced between $1,195,000 and $16,900,000. The average asking price per square foot is $400 for a non-waterfront home and $500 for a waterfront home. The average size home on the market in Cocoplum is currently 6,000 sq. ft.
A property that stands out to me as a great deal in Cocoplum is located at 6910 Tulipan Court. The owners are asking only $257.00 per square foot. Details of the home include 6,016 square feet of living area with 5 bedrooms, 4 baths and pool. The home is listed by Prudential Realty and the asking price is $1,550,000. The house was under contract back in 2009 but the deal fell through.
If you are interested in buying or selling within the gated community of Cocoplum please don’t hesitate to contact me at 305.342.1623 or send me a note here.
Snapper Creek Lakes – Buy A Piece of Miami’s History
May 19th, 2010 Categories:Coral Gables Gated Communities
Last night I got a call from John Seidel of Coldwell Banker. He asked me to stop by his Broker’s Open House in Snapper Creek Lakes today and assured me that his listing was a “must-see”. I have to say that John did not let me down, it really is a spectacular home with a special history.
Let me start out with my first impressions of the property: the home is located on an extremely large lot with Fairchild-esque landscaping (not surprising as it was designed by Raymond Jungles), it offers sweeping views of the garden from every window, large spacious living areas, extra wide hallways, beautiful keystone terrace and pool area and a gorgeous courtyard entryway.
The home was designed by Robert Bradford Brown and is situated on an angle in order to best capture the light in every room. It features 5 bedrooms with 5.5 baths, 12 foot ceilings, Saltillo floors, built-in bookcases, eat-in kitchen with butler’s pantry, formal dining room, elevator and maid’s quarters.
The property has a special history thanks to the 2 bedroom guest house located out back. Built by Charles Seibold and Maud Black in 1899 it is one of the remaining houses from the Pioneer Period in Dade County (others include the Richmond Inn in Deering Bay and The Barnacle in Coconut Grove). The guest house was designated as a “historic site” back in 1981 by the Metro Historic Preservation Board.
The offering price of this home has recently been reduced to $1,998,000. Click here to view the Virtual Tour of this home.
If you are interested in seeing this property or any others in Coral Gables, I would be happy to arrange a showing for you. Please give me a call at 305.342.1623 or send me a note here.
Has The Coral Gables Real Estate Market Stabilized?
May 17th, 2010 Categories:Coral Gables Real Estate
Taking a look at the most recent statistics for Coral Gables real estate it seems that the market has stabilized. Currently inventory levels are down, the number of home sales is up and prices remain flat.
The attached chart shows inventory and sale levels for the past 3 years.
Inventory Levels
Coral Gables has 11% less homes for sale than it did back in 2007. The absorption rate (the amount of time it takes to sell all of our inventory) is down to 13 months (we saw figures as high as 45 months back in 2007). Experts say that a neutral market has an absorption rate of 4 to 6 months while anything less than 4 months is a seller’s market and anything more than 6 months is a buyer’s market.
Lower inventory is likely a result of 2 contributing factors. First, many people are under water on their homes and not in a position to sell. Second is the simple fact that home sales are up. Coral Gables had 150% more sales in April of 2010 compared to April of 2009.
What about price?
The average selling price per square foot in Coral Gables is currently $280.00, while the average sale price per foot in 2009 was $285.00. With almost 2 years of steady numbers, it is safe to say that prices have stabilized.
Coral Gables Remains A Buyer’s Market
Coral Gables, along with the rest of Miami-Dade County continues to be a ”buyer’s market”. Prices have stabilized but they remain at all-time low levels. Now is certainly the time to buy. In my opinion, the best deals are in the luxury home market. It is here that sellers are taking heavy discounts off of the list price. In fact, the sale to list price ratio of $1,000,000+ homes in Coral Gables ranges from 75% to 85% whereas the $1,000,000 and below homes have a 96% sale to list price ratio.
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.
The “Little Gables” Offers Buyers Great Value
May 12th, 2010 Categories:Buying in Coral Gables
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.
Great Waterfront Home In Cocoplum – Reduced Today By $500,000
May 10th, 2010 Categories:Coral Gables Gated Communities
The home located at 194 Caoba Court was reduced today from $3,500,000 to $2,995,000 making it a very good opportunity and one of the least expensive waterfront homes currently on the market in Cocoplum. Keep in mind that the average waterfront home in Cocoplum right now is listed at $5,600,000. Click this link to see all homes for sale in Cocoplum.
This home is listed by Sotheby’s International Realty.
If you are interested in buying or selling real estate in Coral Gables and are looking for a realtor, please don’t hesitate to contact me at 305.342.1623 or send me a message here.
Snapper Creek Lakes – 4 Sales This Year!
May 6th, 2010 Categories:Coral Gables Real Estate
Snapper Creek Lakes is an exclusive gated community in Coral Gables located just across the street from Matheson Hammock State Park. Prices in Snapper Creek currently range from $1,699,000 all the way up to $12,500,000. The average “List Price Per Square Foot” in the community is $577. To view photos and information of homes that are for sale in Snapper Creek, click here.
There have been 4 closed sales in Snapper Creek Lakes just this year. The average “Selling Price Per Square Foot” is $428 with a low of $374 and a high of $593. To view photos and information of the homes that have sold this year in Snapper Creek, click here.
If you are interested in buying or selling real estate in Coral Gables and are looking for a realtor, please don’t hesitate to contact me at 305.342.1623 or send me a message here.
