Waterfront Homes In Coral Gables Have Not Risen In Value

December 30th, 2013 Written By


Categorized under Buying Real Estate In Coral Gables, Coral Gables Real Estate, Coral Gables Waterfront Homes

Coral Gables Waterfront Homes

One of the only segments of the real estate market in Coral Gables that has not increased in value during 2013 is waterfront homes.  You may remember my recent post about the values of waterfront homes in Cocoplum which remained stable between 2012 and 2013.  The trend also applies to the rest of the waterfront homes in Coral Gables.  Check out the chart above which shows all waterfront homes sold between 2010 and 2013.  You will see they made a big jump in price between 2011 and 2012, but in 2013 they have actually declined in value.

This data presents a great opportunity for buyers.  If you are looking to invest in property where values haven’t increased as dramatically as in other segments of the Coral Gables real estate market, then you should definitely begin to look at the waterfront homes.

The real estate market in Coral Gables is changing on a daily basis and it is critical for buyers and sellers to work with Realtors who know the numbers and study the trends.  If you are considering buying or selling a home in Coral Gables, please feel to contact us here or I can always be reached on my cell phone at 305-342-1623.

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New Townhouse Project Coming To Coral Gables

December 23rd, 2013 Written By


Categorized under Coral Gables Real Estate, Coral Gables Townhouses, Santander At Coral Gables

There are only a handful of townhouses located in the city of Coral Gables.  The Village of Campo Sano, Almeria Row, Bermuda Village and the villas at Deering Bay are among the most popular.  There is a new townhouse project slated for Coral Gables called Santander at Coral Gables.   These townhouses will feature 3 bedrooms, 3.5 baths, 2 car garages and an open courtyard.   Units will start at $1,300,000 and go up to $1,450,000.  Square footage is approximately 4,000 including garage, balcony and rooftop terrace.  Listed by Shoma Group.

If you are interested in learning more about this project , would like to set up a private presentation, or if you would like a copy of the floorplans, please don’t hesitate to contact us.

Our team knows the Coral Gables real estate market and tracks the sales to help our clients make informed, confident decisions.  If you are interested in working with realtors who specialize in Coral Gables, please feel to contact us here .

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6500 Riviera Drive Sells For $6,200,000 | Record Sale

December 17th, 2013 Written By


Categorized under Coral Gables Real Estate, Coral Gables Waterfront Homes

Displaying riviera.jpg

The property at 6500 Riviera Drive closed this week for a sales price of $6,200,000.  At $724.00/sq. ft., it is the highest “sale price/square foot” for a home sold in 2013 that is not in a gated community.

I toured 6500 Riviera Drive with a client of mine and can see why it garnered such a high price.  It is located on the widest section of the Gables Waterway on a large 22,950 square foot lot, offers 150 feet of water frontage and has been finished to perfection.

Details of 6500 Riviera Drive:

  • 8,558 Square Feet Of Living Space
  • 22,950 Square Foot Lot
  • 6 Bedrooms, 6 Full Baths, 2 Half Baths
  • Listed by Judy Zeder of EWM

Our team knows the Coral Gables real estate market and tracks the sales to help our clients make informed, confident decisions.  If you are interested in working with realtors who specialize in Coral Gables, please feel to contact us here .

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New Luxury Condo Building Slated For Coral Gables | The Collection Residences

December 13th, 2013 Written By


Categorized under Coral Gables Condos, The Collection Residences

The Collection Residences

Hot off the press! A developer has acquired the property located at 4101 Salzedo Street in Coral Gables for $27 million with plans to build a luxury condo building.  The 2.8 acre site is located across the street from high-end car dealership The Collection.  The project is aptly named, The Collection Residences.   The internationally recognized firm of Arquitectonica has been hired to design the building.  4101 Salzedo Street is located just steps from The Village of Merrick Park.

Arquitectonica

Our team knows the Coral Gables real estate market and tracks the sales to help our clients make informed, confident decisions.  If you are interested in working with realtors who specialize in Coral Gables, please feel to contact us here .

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Gables Estates Market Update | 2013 In Review

December 12th, 2013 Written By


Categorized under Coral Gables Gated Communities, Coral Gables Real Estate, Coral Gables Waterfront Homes, Gables Estates, Selling Real Estate In Coral Gables

Gables Estates

Gables Estates is a private, 200 acre gated community situated on Biscayne Bay in Coral Gables.   With homes that have an average sale price of $7,000,000, it is certainly one of Florida’s most exclusive addresses.  Gables Estates was developed in the 1960′s by industrialist Arthur Vining Davis (Davis owned an estimated 1/8 of Dade County at the time).

Because of the high price point, we don’ t typically see a lot of turnover in this community during the course of the year.  With just a few weeks left in 2013, there have been 6 homes sold and $42,372,000 worth of volume closed.  Last year was an anomaly with 13 homes sold and $129,770,000 worth of volume traded.

The average “sale price/sq. ft.” of homes in Gables Estates comes in at $866.00 which is significantly higher than other gated communities in Coral Gables.

There are currently 12 homes on the market in the community of Gables Estates.  They currently range from $2,590,000 and go up to $35,000,000.

Our team knows the Coral Gables real estate market and tracks the sales to help our clients make informed, confident decisions.  If you are interested in working with realtors who specialize in Coral Gables, please feel to contact us here .

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5809 Michelangelo Street Sells Above Asking Price

December 10th, 2013 Written By


Categorized under Coral Gables Real Estate, Selling Real Estate In Coral Gables

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The home located at 5809 Michelangelo Street in Coral Gables just closed for over asking price.  Although the home was not turn-key ready, it had great bones and was priced in the “sweet spot” of $500,000 to $1,000,o00.   The home offered 2,582 square feet of living space on a large 10,000 square foot lot with 4 bedrooms, 3 baths.   It was listed for $750,000 and went under contract in 5 days which indicates that there was a significant amount of interest in the property.   The sale price was $755,000.  Listed by Coldwell Banker.

So far in 2013 there have been 70 homes sold in Coral Gables which closed over asking price.  Except for a small handful, the homes that sell over list price are generally priced below $1,000,000.  This price range is the highest in demand and has the most competition.  Buyers are willing to act quickly and will pay over asking price to secure these types of homes.

Our team knows the Coral Gables real estate market and tracks the sales.  If you are interested in working with realtors who specialize in Coral Gables, please feel to contact us here .

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The End Of 2013 Is Fast Approaching…Here Is What You Can Expect

December 9th, 2013 Written By


Categorized under Coral Gables Real Estate

New year 2014

I wanted to give all the buyers and sellers out there a brief synopsis of what they can expect in the coming weeks as 2013 wraps up.

  • We won’t see many new listings hitting the market because people are busy getting ready for the holidays or heading out of town and would rather wait until the beginning of 2014 to list.
  • If you already have your house on the market for sale, you can expect an overall drop in the number of showings.   When you do have a showing, it is typically from a very serious buyer who needs a home and isn’t distracted by the holiday craze.   We tend to see fewer “window shoppers” over the next few weeks.
  • The number of homes going under contract should drop as a result of the decrease in showings and new listings.
  • We will see a bump in the number of closed sales as many people who are already under contract want to close before the end of the year.

Our office will be open and we will be working through the holidays.  If you need assistance buying or selling a home and would like to set up a brief meeting, please don’t hesitate to contact us.  We can be reached anytime at 305-342-1623 or you can send us a message here.

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- See more at: http://coralgablesrealestatevault.com/#sthash.pBPAWQZu.dpuf

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Best Of Both Worlds | Old Spanish Exterior With Modern Interior

December 3rd, 2013 Written By


Categorized under Coral Gables Real Estate, Old Spanish Homes In Coral Gables

Old Spanish Home Coral Gables

This unique property just hit the market in Coral Gables.  Located at 537 San Lorenzo Avenue, it has the exterior of an Old Spanish home but the amenities and style of a modern home on the interior.   The home offers 3 bedrooms, 3 bathrooms with a gourmet kitchen, eat-in island, Bosch appliances, a lush courtyard and large family room with built-in office.  The master suite has a large walk in closet and spa bath.  The property is listed for $925,000 by Advantage Real Estate Services.  View more photos and information here.

Old Spanish Home Coral Gables 2

Old Spanish Home Coral Gables 3

Our team knows the Coral Gables real estate market and tracks the sales.  If you are interested in working with realtors who specialize in Coral Gables, please feel to contact us here .

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How Many Sellers Got It Right The First Time?

December 2nd, 2013 Written By


Categorized under Coral Gables Real Estate, Selling Real Estate In Coral Gables

House sold sign

Pricing a home takes a solid understanding of where the market is now and where it is headed.  Instead of focusing strictly on past sale comparables there are many other factors that need to be considered.  Does the home have any special features that will add or take away value?  What is the demand for the type of the home that you are trying to sell?   Looking forward, you need to ask where prices are going to be in the coming months?  Will they rise or fall, and by how much?  I truly believe that performing a price valuation on a home is an art.  This is true particularly for Coral Gables where the home prices vary drastically by location, size, style and condition.

I thought it would be interesting to calculate how many Coral Gables sellers settled on the right list price the first time around, and how many had to make price reductions.

Of the 567 closed sales in Coral Gables so far this year, approximately 200 had price reductions prior to selling.  Not surprisingly, the homes that were reduced had longer “days on the market” than those that were priced correctly from the beginning.

Our team knows the Coral Gables real estate market and tracks the sales.  If you are interested in working with realtors who specialize in Coral Gables, please feel to contact us here .

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Home On Jeronimo Drive Garners Top Dollar

November 27th, 2013 Written By


Categorized under Coral Gables Real Estate, Selling Real Estate In Coral Gables

Jeronimo Drive Coral Gables

The home located at 743 Jeronimo Drive closed this week for a sales price of $883,500 or $419.00 per square foot.  The home had been recently renovated with impact windows and doors, new septic system, roof, kitchen and baths.  The home was also located on a oversize 10,000 square foot lot.  It is no surprise that it was on the market for just a few weeks before going under contract.  Listing agent was Ashley Cusack of EWM.

This is the highest “sale price/sq. ft.” figure we have seen for a 4 bedroom home so far in 2013.

Our team knows the Coral Gables real estate market and tracks the sales.  If you are interested in working with realtors who specialize in Coral Gables, please feel to contact us here .

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