Coconut Grove Homes and Condos for Sale

Archive for the 'South Miami Listings' Category

Rentals Rule At the Moment

I handed over the keys to the new tenants at 2 of my rental listings on Sunday, and it got me to thinking. How big is the rental market right now? As my research covering area 41 confirmed, there are a LOT more rentals than sales being done this month. (For those of you not in my business, area 41 is part of the imaginary grid realtors use for property identification. Area 41 includes Coconut Grove, Coral Gables, South Miami, the Roads and Shenandoah.)

In the last 14 days a total of 525 properties have come on the market. Ninety-three are single family homes, 192 are condos and townhouses, and 240 are rental properties. Granted, the total of homes for sale equals 285, but the amount of rentals isn’t far off that number.

Looking at pending properties there are 157 single family and condos or townhouses under contract, compared to 154 rentals.

The real eye-opener is what has actually closed in the last two weeks. Of the 431 closings, 323 of them were rental properties. That’s three times the amount of rental properties closed compared to condos and homes!

Statistics like this clearly point out the need to put the property you are selling at a very compelling price. If buyers aren’t finding a home that shouts “Buy me now!” it’s easy for them to keep looking at other homes or rent for a while.

If you are buying, selling, or renting let a local specialist help you. I’m always available at 305 794.6570 or you can leave me a note and I’ll get back to you immediately.

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A Bit of Coconut Grove in South Miami

There’s a new listing in South Miami that you would swear is in the Grove! Three blocks south of Sunset Drive and surrounded by lush fully-grown trees and shrubs, this house is hidden from view from the street.

Located at 7520 SW 63 Avenue this house has 3 bedrooms and 2 bathrooms in just less than 1500 square feet. The floors are gleaming hardwood and the kitchen is updated with granite countertops. The family room overlooks the tropical back garden, a complete oasis.

The lot is over 10000 square feet and has an amazing heated pool and a spa. The detached one and a half car garage would also make a perfect studio or workshop, and an elevated “clubhouse” would make any child or child-at-heart happy!

Listed at $325,000 by Coldwell-Banker I expect this home to attract a lot of attention and to sell quickly.

If you would like to see this house, give me a call at 305 794.6570 or leave me a message here. To stay updated with all local real estate information, receive my blog posts via email by subscribing here.  Once you register, you must activate the subscription in a follow-up email.

Call It the Dante Fascell Park or Epiphany Area, It’s All Beautiful South Miami

Enough cannot be said about using a local specialist when deciding where your next home will be located. Around here there are differences within small geographic areas that will influence your decisions, and if you are new to the area you’re going to need help!

South Miami has so many great neighborhoods, each with its own character, and one that I think has a great location and value is the area south of SW 80 Street down to Dante Fascell Park, bordered by Red Road on the east and US 1 on the West. The average listing price per square foot is $271, selling price per square foot is $232, and time on the market from listing to sale is 92 days. The average sale price during 2010 has been $536,000.

The following two places are typical of what you will find for sale in the neighborhood, one a recently updated 1950 home and the other a home built in 2005 that is twice the size.

6430 SW 83 Street is a recently renovated older home with a pool, impact glass windows and hardwood floors listed by Coldwell-Banker.

Details of this home include:

• 4 bedrooms, 2 bathrooms
• 2,222 square feet living area and 10,650 square feet of land
• Originally built in 1950 and renovated in 2007 and 2010
• List Price is $639,000 or $287 per square foot

6051 SW 85 Street was completed in 2005 in the Florida vernacular style. It has family rooms on both floors, something we often see in newer homes, and the pool is fed by a waterfall.

Details of this home include:

• 6 bedrooms, 5 and a half bathrooms
• 4,929 square feet of living area on a lot of 11,520 square feet
• 2 car garage, pool with waterfall, covered terrace
• Listed for $1,475,000 or $299 per square foot by EWM

Click here to see all the homes currently for sale in the area 

To see the 4 homes now under contract click here

8121 SW 63 Court sold in May for less than a thousand dollars under the asking price of $429,000. It’s a 1955 built home on a large lot with plenty of room for a pool or an addition.

Details of this home include:

• 3 bedrooms, 2 bathrooms
• 1,806 square feet of living area on a lot of 11,040 square feet
• One car garage, well and sprinkler system
• Sold for $428,022  or $237 per square foot and listed by ERA

 Another sale that closed in May is 6250 SW 84 Street. This was built in 1990 and has been updated throughout with multiple skylights and lush exotic landscaping.

Some features of this home are:

• 3 bedrooms, 3 bathrooms
• 2,546 square feet on 14,200 square feet of land
• 2 car garage, pool
• Located on a quiet one-way street
• Listed by Coldwell-Banker for $669,000 ($262 psf) and sold for $618,000 ($243 psf)

You can see all 7  homes sold this year by clicking here

This neighborhood, known by either the Epiphany or Dante Fascell Park Area, is close to great schools and shopping at Dadeland Mall or Sunset Place, and is convenient to US 1 and the Palmetto Highway.  I would love to show you around! You may give me a call at 305.794.6570 to arrange a meeting.

You may also leave me a note here or subscribe to receive my posts  directly in your email. Once you register, you must activate the subscription in a follow-up email.

 

Schenley Park and Biltmore Heights – The Beauty and The Value

There are two South Miami neighborhoods just west of Red Road that grab my attention for two reasons. Since both the cities of Miami and Coral Gables end at SW 57th Avenue they fall outside those taxing districts, and their close-in location makes commuting to downtown Miami or even Miami Beach a comparative breeze.

The first area of which I write is Schenley Park, located between Sw 24th Street  (Coral Way) and SW 40th Street  (Bird Road) and from Red Road  (SW 57th Avenue) to SW 62 Avenue. The homes, some of which are on one of Miami’s ubiquitous canals, were built in the late 40’s and 50’s for the most part, and have the mature trees and foliage of an older neighborhood.

The other neighborhood lies directly south of Schenley Park with the same east and west boundaries. It goes from Bird Road to Miller Drive (SW 56 Street). I’ve heard it called both Biltmore Heights and Riviera Estates, so call it whichever you prefer. Again, it has the same established landscaping and general age of the homes.

Here’s a home in Schenley Park at 6092 SW 27 St listed since March at $688,000 by Bank Plus Realty. It has 5 bedrooms, 3 bathrooms in 3260 square feet with a pool in the 12,800 square foot lot. At a  price equalling $211 per square foot, it’s marginally over the average price per square foot of $205.

 

To see details of all the homes currently ON THE MARKET in these two neighborhoods, click here.

For all PENDING properties, click here.

See all the properties CLOSED in 2010 by clicking here

It’s good to know that beginning literally one block west of Coral Gables is an area of homes where the selling prices and property taxes are significantly less, yet the ambiance and character are quite similar. If you are interested in learning more about Schenley Park and Biltmore Heights/Riviera Estates give me a call anytime at 305.794.6570 or leave me a note here.

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