Cocoplum Market Update | Values For Waterfront Homes Have Still Not Recovered

November 21st, 2013 Written By Riley Smith


Categorized under Cocoplum, Coral Gables Gated Communities, Coral Gables Real Estate, Coral Gables Waterfront Homes

Cocoplum Chart

I created the chart above which shows the history of sales in the gated community of Cocoplum since 2006.  You can see that in 2006 & 2007 values peaked for waterfront and non-waterfront homes.  The waterfront homes took the hardest hit over the past few years in Cocoplum falling to an average “sale price/square foot” of $496.00 in 2010.  Although they have bounced back since then, this is still a segment of the market that has some recovering to do.  I believe that in the next 1-2 years we will see prices of the waterfront homes rise to $600.00 – $700.00/square foot.   Non-waterfront homes have remained fairly stable and have increased this year to $401.00 / square foot. 

Browse all homes for sale in Cocoplum here.

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.

Visit Today’s News From Our Other Miami Real Estate Blogs:
Coconut Grove Real EstateBrickell Condo Blog | Key Biscayne Real Estate 

The Sweet Spot Of Coral Gables Real Estate

November 20th, 2013 Written By Riley Smith


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

Coral Gables Real Estate Chart

When you take a look at the chart I created above, you will see that the segment with the highest number of homes sold in Coral Gables this year is the $500,000 to $1,000,000 price range.  I like to call it “the sweet spot” because homes in this price range are in VERY high demand.  When you put these homes on the market and price them right, they sell FAST.

A result of the increased demand has been a large increase in value for this segment of the market.   In fact, the average “sale price per square foot” of homes between $500,000 and $1,000,000 in Coral Gables has risen from $273.00/sq. ft. in 2012 to $307.00/sq. ft. in 2013.

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 free to contact us here or I can always be reached on my cell phone at 305-342-1623.

Have You Met Our Team?

November 19th, 2013 Written By Riley Smith


Categorized under Coral Gables Real Estate

the riley smith group website

I am thrilled to announce our new website – TheRileySmithGroup.com.   Click on the image above to learn more about The Riley Smith Group and the members of our team. 

“With the principles of honesty and integrity as their guiding philosophy, The Riley Smith Group has become a leader in the South Florida real estate market. The team is recognized for their superior level of market knowledge and strategic insight into the intricacies of selling and buying real estate. Their commitment to the client is evident throughout each and every facet of the process, from marketing to negotiating and closing the deal.”

Interested in buying or selling a Coral Gables home?  Send us a message here to schedule a private consultation.

All The Makings For A Full Price Sale

November 18th, 2013 Written By Riley Smith


Categorized under Coral Gables Real Estate

Gerona

When 412 Gerona Avenue hit the market back in September, I knew it would sell quickly and for close to asking price.  Situated on a great street, the home was turn-key ready with top of the line appliances, impact windows and doors, updated kitchen & baths and an open floor plan.  Most importantly, it was priced under $800,000 which is the segment of the market which is in highest demand right now.  Not surprisingly, the home closed this week for the full asking price of $740,000.

Gerona 2

Details of 412 Gerona Avenue:

  • 3 Bedrooms
  • 2 Baths
  • 1,896 Square Feet Of Living Space
  • 6,250 Square Foot Lot
  • Broker: Showcase Homes
  • Sale Price: $740,000 or $390.00 psf

If you are interested in working with Coral Gables Realtors who know the numbers and track the market, please contact us at 305-342-1623 or send me a message here.

The Coral Gables Real Estate Vault is the most comprehensive source for real estate information in Coral Gables. Read the latest news, statistics and opinions on our market or browse the latest listings in our Coral Gables Gated Communities, Waterfront Homes, Land For Sale, Foreclosures, Short Sales and more.

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Don’t Miss Today’s News From Our Other Real Estate Blogs:
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If you are interested in working with Coral Gables Realtors who know the numbers and track the market, please contact us at 305-342-1623 or send me a message here.

The Coral Gables Real Estate Vault is the most comprehensive source for real estate information in Coral Gables. Read the latest news, statistics and opinions on our market or browse the latest listings in our Coral Gables Gated Communities, Waterfront Homes, Land For Sale, Foreclosures, Short Sales and more.

RECEIVE OUR BLOG POSTS DIRECTLY TO YOUR INBOX!
Don’t Miss Today’s News From Our Other Real Estate Blogs:
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- See more at: http://coralgablesrealestatevault.com/#sthash.NPEMSGGI.dpuf

George Fink Home Hits The Market In Coral Gables

November 15th, 2013 Written By Riley Smith


Categorized under Coral Gables Real Estate, Historic Homes In Coral Gables

Santiago

When George Merrick had the vision to create the City of Coral Gables back in the 1920′s, he enlisted the help of architect George Fink to help him plan the City.  George Merrick wanted to build homes with “purely Spanish lines and of coral rock construction.”   George Fink played a major role in designing the buildings that George Merrick envisioned.

A George Fink designed home has just hit the market at 814 Santiago Street.  Some of the architectural details include black and white stripe Cuban tile floors, archways throughout the home and a fireplace.  It sits on a large 12,500 square foot lot with mature fruit trees.  Although it is designated historic, the owner has current plans to expand the home while maintaining the charm and character of the original property.  View more photos and information of 814 Santiago Street here.  Listed by Cervera Realty.

If you are interested in working with Coral Gables Realtors who know the numbers and track the market, please contact us at 305-342-1623 or send me a message here.

The Coral Gables Real Estate Vault is the most comprehensive source for real estate information in Coral Gables. Read the latest news, statistics and opinions on our market or browse the latest listings in our Coral Gables Gated Communities, Waterfront Homes, Land For Sale, Foreclosures, Short Sales and more.

RECEIVE OUR BLOG POSTS DIRECTLY TO YOUR INBOX!
Don’t Miss Today’s News From Our Other Real Estate Blogs:
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Another Coral Gables Home SOLD By The Riley Smith Group!

November 13th, 2013 Written By Riley Smith


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

Campo Sano

We were contacted a few months ago by a wonderful couple who had been looking for a home in Coral Gables for quite some time.  They had been unsuccessful in finding the right property in this competitive market with very little inventory.  Jessica Adams, one of our luxury buyer specialists, was confident that she could match them with the right Coral Gables home.  When 1241 Campo Sano Avenue hit the market just a few weeks later, she knew it was perfect for them.  By submitting a strong offer immediately (there were multiple offers), the buyers got the house under contract.   Jessica played a critical role in finding the property and getting the deal done efficiently and stress-free.  Another successful closing for The Riley Smith Group!

Congratulations to our new buyers on their home!

Details of 1241 Campo Sano Avenue:

  • 3,039 Sq. Ft. Living Area
  • 4 Bedrooms, 3 Baths
  • 6,234 Sq. Ft. Lot
  • Sale Price: $995,000

If you are interested in working with Coral Gables Realtors who know the numbers and track the market, please contact us at 305-342-1623 or send me a message here.

The Coral Gables Real Estate Vault is the most comprehensive source for real estate information in Coral Gables. Read the latest news, statistics and opinions on our market or browse the latest listings in our Coral Gables Gated Communities, Waterfront Homes, Land For Sale, Foreclosures, Short Sales and more.

RECEIVE OUR BLOG POSTS DIRECTLY TO YOUR INBOX!
Don’t Miss Today’s News From Our Other Real Estate Blogs:
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Got Wine? This Coral Gables Home Offers A 3,000 Bottle Wine Cellar

November 7th, 2013 Written By Riley Smith


Categorized under Coral Gables Gated Communities, Coral Gables Real Estate, Selling Real Estate In Coral Gables, Tahiti Beach

Tahiti Beach 1

Tahiti Beach is an exclusive waterfront gated community in Coral Gables composed of 28 homes.  A new property has just hit the market in Tahiti Beach located at 25 Tahiti Beach Island.  The home offers 7,813 square feet of living area on a 52,941 square foot lot with 5 bedrooms, 6.5 baths.  Some of the special features of the home include a 3,000 wine cellar (my kind of home!), expansive terraces, a modern kitchen and spectacular pool area.  The home is listed by Redfin for $7,500,000.  View more photos and information here.

Tahiti Beach 2

Tahiti Beach 3

This is an opportunity to get in the gated community of Tahiti Beach for under $10,000,000.  There are currently two other active listings in Tahiti Beach, they are listed for $25,000,000 and $11,900,000. 

If you are interested in working with a Coral Gables Realtor who knows the numbers and tracks the market, please contact me at 305-342-1623 or send me a message here.

The Coral Gables Real Estate Vault is the most comprehensive source for real estate information in Coral Gables. Read the latest news, statistics and opinions on our market or browse the latest listings in our Coral Gables Gated Communities, Waterfront Homes, Land For Sale, Foreclosures, Short Sales and more.

RECEIVE OUR BLOG POSTS DIRECTLY TO YOUR INBOX!
Don’t Miss Today’s News From Our Other Real Estate Blogs:
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Sellers See Nice Returns On Their Investment Just 1 Year After Purchase

November 5th, 2013 Written By Riley Smith


Categorized under Coral Bay, Coral Gables Real Estate, Coral Gables Waterfront Homes, Selling Real Estate In Coral Gables

Coral Bay

We are seeing this scenario play out again and again across the Coral Gables real estate market.  Sellers are experiencing a nice gain on the sale of their home just 1 year after purchase.  The perfect example is the home located at 871 San Pedro Avenue in the guard gated community of Coral Bay.  This home sold in August of 2012 for a great price of $1,580,000.  The owners placed it back on the market in March of 2013 for a list price of $2,275,000.  It closed this month for just 4% off the list price at $2,200,000.  That is a gain of $620,000!  Broker was Shelton and Stewart.

If you are interested in working with a Coral Gables Realtor who knows the numbers and tracks the market, please contact me at 305-342-1623 or send me a message here.

The Coral Gables Real Estate Vault is the most comprehensive source for real estate information in Coral Gables. Read the latest news, statistics and opinions on our market or browse the latest listings in our Coral Gables Gated Communities, Waterfront Homes, Land For Sale, Foreclosures, Short Sales and more.

RECEIVE OUR BLOG POSTS DIRECTLY TO YOUR INBOX!

Don’t Miss Today’s News From Our Other Real Estate Blogs:

http://www.TheRealEstateCoconut.com

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You Know This House! 506 Sunset Road In Coral Gables

November 3rd, 2013 Written By Riley Smith


Categorized under Coral Gables Real Estate

Home for sale on Sunset Drive, Coral Gables

If you live in Coral Gables then you have driven by this house on Sunset Road countless times.  I have no doubt that it has caught your eye at least once or twice for its beautiful architecture and design.  Just listed by my colleague here at EWM Realty, JoAnn Forster, this home just hit the market for a list price of $5,495,000.   Recently completed in 2008, this French style country home offers 7,550 square feet of living area which includes a separate guest house as well as a separate 2 story office/gym.  Situated on a stunning 28,600 square foot lot with heated salt water pool and expansive terraces and patios.  View more photos and information here.

Home for sale on Sunset Drive, Coral Gables

If you are interested in working with a Coral Gables Realtor who knows the numbers and tracks the market, please contact me at 305-342-1623 or send me a message here.

The Coral Gables Real Estate Vault is the most comprehensive source for real estate information in Coral Gables. Read the latest news, statistics and opinions on our market or browse the latest listings in our Coral Gables Gated Communities, Waterfront Homes, Land For Sale, Foreclosures, Short Sales and more.

RECEIVE OUR BLOG POSTS DIRECTLY TO YOUR INBOX!

Don’t Miss Today’s News From Our Other Real Estate Blogs:

http://www.TheRealEstateCoconut.com

http://www.BrickellCondoBlog.com

Looking For An Investment Property In Coral Gables?

October 30th, 2013 Written By Riley Smith


Categorized under Buying Real Estate In Coral Gables, Coral Gables Gated Communities, Coral Gables Real Estate, Old Cutler Bay

Image unavailable

The home at 560 Reinante Avenue in the gated community of Old Cutler Bay came on the market this week for a list price of $2,200,000.  The home is tenant occupied until August of 2014, and the monthly rental income is $7,700 per month.  The new owner will assume the current lease that is in place.   With values on the rise, this would be a great opportunity for someone who wasn’t ready to move but wanted to lock in a home at the current prices.

The home offers 4,613 square feet of living space on a 16,684 square foot lot with 5 bedrooms, 5.5 baths.  Listed by Shelton and Stewart.  View more photos and information here.

If you are interested in working with a Coral Gables Realtor who knows the numbers and tracks the market, please contact me at 305-342-1623 or send me a message here.

The Coral Gables Real Estate Vault is the most comprehensive source for real estate information in Coral Gables. Read the latest news, statistics and opinions on our market or browse the latest listings in our Coral Gables Gated Communities, Waterfront Homes, Land For Sale, Foreclosures, Short Sales and more.

RECEIVE OUR BLOG POSTS DIRECTLY TO YOUR INBOX!

Don’t Miss Today’s News From Our Other Real Estate Blogs:

http://www.TheRealEstateCoconut.com

http://www.BrickellCondoBlog.com

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