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Coconut Grove Category

What About Those “Diamonds in the Rough”?

Sometimes realtors describe a property as being a “diamond in the rough”; or maybe “a gem that needs polishing”; or a house that has “good bones”. The current buzz phrase is “classic mid-century”, which when translated often means a home built in the 1940’s-1960’s that may or may not have updates.

"BEFORE"   5900 SW 83rd STREET

“BEFORE” 5900 SW 83rd STREET

Some of those homes can be fabulous! Sure it takes time, money, and energy but many find it so rewarding! The markets that I specialize in: South Miami, Coral Gables, Coconut Grove, Pinecrest, & Palmetto Bay are low in ‘turn-key’ inventory, especially in the $500,000 – $1,250,000 range, so now might be the time to consider those properties which need some TLC!

"After"   5900 SW 83rd STREET

“AFTER” 5900 SW 83rd STREET

Try and separate the cosmetics from the fundamentals!  First and most importantly,  is the property in a neighborhood you desire? Does the property have the needed space, both inside and out? If not, can space be added? Is there good light? Is there room for a pool if you want to add one later? If the fundamentals are there, maybe you consider the ‘labor of love’route!

I recently sold the two homes in South Miami to Buyers who would have preferred ‘turnkey’, but they didn’t exist at the time or were unaffordable. Thank goodness they had vision! Both families are so happy with their decisions, and I have great neighbors!

 

To learn more about real estate in South Miami, Coral Gables, Coconut Grove, Pinecrest and Palmetto Bay, contact Val Byrne at val@valbyrnerealtor.com or at 305-323-6231. Val Byrne – Working For You!

Miami’s Rental Market Madness!

In my 20-year real estate career in Coral Gables, Coconut Grove, South Miami, Pinecrest, Palmetto Bay, and the Brickell corridor I have NEVER seen so many for rent illustrationpeople looking to rent.  I’m predominantly a Buying and a Selling Agent in Miami’s luxury home market, but I’m well versed in the local rental market, and typically have 5-10 rental transactions per year.  That is until this year:  I’ve had 10 rental transactions and 5 current prospects, and it’s only April.  I’ve been preparing Leases from $2,000/month to $20,000/month, and I don’t see a slowdown. I’m finding this month that it will cost at least $2 per square foot to get a decently clean, updated single family home with a pool, and in Coral Gables many will have to pay that and skip the pool!

15 rental transactions in four months is so far out of the norm for me that I decided to stop and look at my own stats, as well as a those where I have been renting: Coral Gables, South Miami & High Pines, Palmetto Bay, Pinecrest, and Brickell.  Glaring at me are the number of new-comers to Miami just in my own chamber of business.  There are 10 renters from out-of-state that have moved for job reasons (5 of them physicians); all wanted to rent and scout before buying.  Only 1 is from out-of-the country which confirms what we already know: the “foreign investor” knows Miami is a safe bet; no need to rent and no time to fool around – prices are going up.   The remaining folks are locals renting while they build their new home or are in-between homes; and my favorite renters are an 88 and 95-year old married couple: they wanted a more simple, maintenance free lifestyle so they could relax (me too!).

 

Comparing Price PSF in Coral Gables, 2012-2014

Comparing Price Per Square Foot in Coral Gables, 2012-2014, For Properties Starting At $2,500/month, Minimum 3 Bedroom

Comparing Price Per Square Foot In Pinecrest, 2012-2014, For Properties Starting At $2,500/month, Minimum 3 Bedrooms.

Comparing Price Per Square Foot In Pinecrest, 2012-2014, For Properties Starting At $2,500/month, Minimum 3 Bedrooms.

Comparing Price Per Square Foot In South Miami, 2012-2014, For Properties Starting At $2,500/month, Minimum 3 Bedrooms

Comparing Price Per Square Foot In South Miami, 2012-2014, For Properties Starting At $2,500/month, Minimum 3 Bedrooms

Comparing Price Per Square Foot in Coconut Grove, 2012-2014 for Minimum 3 Bedrooms, $2,550/month and Higher

Comparing Price Per Square Foot In Coconut Grove, 2012-2014, For Properties Starting At $2,500/month, Minimum 3 bedrooms

And the Real Estate Forecast Continues to be Sunny Skies……

 

Ron Shuffield, President and genius data cruncher at EWM Realty International delivered our spring outlook last week and the forecast is SUNNY!  Watch this quick video to hear it for yourself, but in a nut shell Ron summarized the last three years of real estate sales in Dade County (2011-2013) as being record breakers.  Each year the number of sales of single family homes and condominiums exceeded the prior year, and these were double digit increases!

 

 

Ron expects to maintain high levels of sales in 2014.  Our indicator of future sales is the amount of inventory of properties for sale, more specifically,  the ‘number of months’ of inventory available. In Dade County we have about 5-6 months of supply right now, which Ron believes is a healthy amount.  In my 20 years selling homes in Coral Gables, Coconut Grove, South Miami, Palmetto Bay, and Pinecrest, I find that a little on the low side, and with that trend prices usually increase.  As Ron says in the video, it is very “neighborhood specific”.

South Miami Number of Homes For Sale & Sold in the past year 1mil - 2milSouth Miami Number of Homes For Sale & Sold in the past year 500,000-1mil

I’m working with a lot of Buyers looking for homes in South Miami, Coral Gables,
and Coconut Grove in the $650,000-$1,000,000 range, and there are very few options out there.  In South Miami alone there is
very little, and even if we stretch budgets up over $1,000,000 the same holds true.

Buyers need to be working realtors who know the market, and know the minute a new home comes on the market. That’s what it often boils down to –  seeing a home and making an offer on day ONE.  Best news in Ron’s spring forecast is that our prices are generally still 35%-40% less than they were at the peak of 2007, and so there are still tremendous values in Miami.

 

To learn more about real estate in South Miami, Coral Gables, Coconut Grove, Pinecrest and Palmetto Bay, contact Val Byrne at val@valbyrnerealtor.com or at 305-323-6231. Val Byrne – Working For You!

It’s a Dog’s Life Near Hammock Lake Park

photo

The pond at the dog park in Dade-County Nursery

One of my favorite things to do is take my dogs to that beautiful park adjacent to the Hammock Lake and Snapper Creek Lake communities that I call ‘dog park’ (but many refer to it as the Dade County Nursery). It’s a vast parcel of unspoiled land nestled between Old Cutler Road and Red Road that the Matheson family gave to the County many years ago.

imagesCACWIDIDIt’s dog nirvana.  Most any time you’ll find dogs fetching frisbees  and swimming in the pond. On weekends (I am there every Sunday) I think there are as many breeds at the park as there are at the Westminster Kennel Club Dog Show. If you don’t have a dog it’s still a great place to hike!  You can park across the street from Fairchild Tropical Garden in the unpaved parking lot and follow the trail, or you can enter at the most southern end of School House Road (SW 52nd Avenue), and there is plenty of room to park.

google maps

 

‘Dog Park’ is sandwiched between two premier, gated Coral Gables communities: Hammock Lake Park and Snapper Creek Lakes. Homes averaged $550ish per square foot in the last 18 months.  I sold the most beautiful home in the area in 2013 – a dreamy residence designed by Portuondo Perotti Architects.  The Buyers have dogs – I wonder if they found nirvana down the street!

 

To learn more about real estate in South Miami, Coral Gables, Coconut Grove, Pinecrest and Palmetto Bay, contact Val Byrne at val@valbyrnerealtor.com or at 305-323-6231. Val Byrne – Working For You!

 

Attention Urban Dwellers!

farmers market colorful fruitfarmers market fruitLUCKY YOU if you live in Coral Gables, Coconut Grove, South Miami, High Pines (and Ponce corridor), or Pinecrest, because they are Farmers’ Market communities!  A community is only as good as its ‘sense of community’, and there is something wonderfully refreshing and ‘grass roots’ about bumping into friends and neighbors while shopping for fresh produce!

Pinecrest GardensI shop at least one Farmers’ Market each week, and to add to the adventure, I either walk or cycle (sometimes I don’t recognize myself). I have to admit my favorite is the Pinecrest Gardens Farmers’ Market.  I live in South Miami but I am a Pinecrest Farmers’ Market girl.

Aside from the stellar fruits and vegetables, there are a few things I don’t resist:  Fatima’s Soaps and Candles are amazing, the guacamole guy has bar none the best EVER, my peeps LOVE the maple bacon and sweet Italian sausage,  and the lady in the middle-aisle bread station has THE best Asiago bread.

orangey faceWhether you live in one of these great communities or are thinking about buying real estate in Coral Gables, Coconut Grove, South Miami/High Pines, or Pinecrest, be sure to support the local economy, the local farmer, and HAVE A GREAT TIME!

 

 

 

Pinecrest Gardens Farmers’ Market | Pinecrest Gardens Parking Lot (the old Parrot Jungle) | Sundays, 9am – 2pm | November – May

Coral Gables Farmers’ Market | Lejeune Road & Miracle Mile (at City Hall) | Saturdays, 8am-1pm | anuary – March

Fairchild Farmers’ Market | Fairchild Tropical Botanics Garden | Saturdays, 9am – 2pm | I am not sure which months, but definitely March

Grove Green Market | Coconut Grove Playhouse parking lot | Thursdays, 2pm – 8pm | Check the months!

Coconut Grove Organic Farmers’ Market | 3300 Grand Avenue | Saturdays, 10am -7pm | Year-round

South Miami Farmer’s Market | SW 57th Court and Sunset Drive | Sundays, 9am – 2pm | Year-round

 

To learn more about real estate in South Miami, Coral Gables, Coconut Grove, Pinecrest and Palmetto Bay, contact Val Byrne at val@valbyrnerealtor.com or at 305-323-6231. Val Byrne – Working For You!

 

 

Home Sweet Home For Rent in Coral Gables 1220 S. Alhambra Circle

Front Exterior car

3 Bedroom | 3 Bath

List Price $4,200/month | MLS No. A1913173

Beautiful, completely renovated, sun-filled, and enchanting; that’s how we describe this residence on one of the prettiest streets in the Coral Gables.  Each bedroom with bath, spacious kitchen with wood cabinetry and granite counters, a great room with fireplace, and a ‘wall of windows’ overlooking a lush, tropical oasis.  Walk to the best schools, markets, and cafes in the South Gables and South Miami.  This rental property is a “10”.


To learn more about real estate in South Miami, Coral Gables, Coconut Grove, Pinecrest and Palmetto Bay, contact Val Byrne at val@valbyrnerealtor.com or at 305-323-6231. Val Byrne – Working For You!

Thinking About Moving ‘One Last Time’?

 

empty nesterIf you’re thinking about  your retirement or near-retirement years I hope an ELEVATOR is in your thoughts!   I’ve had an onslaught of clients moving out of the Big house with the Big yard and Big maintenance, and opting for comfortable and easy.  These scrutinizing folks want space (#1 request) and high-end appointments (tied for #1), and this often comes in the form of vertical living!

Lesson 1: You never anticipate or prepare for knee and hip surgeries.  Lesson 2: Most master bedrooms in 2-story residences are upstairs! No matter if you are looking at South Miami, Coral Gables, Coconut Grove,  Pinecrest, Palmetto Bay, or the Ponce & Davis corridors, these ‘empty nester’ residences are often going to have 2 floors, so you have to imagine going up and down the stairs when it’s not going to be so easy!  Is there enough space in the staircase to accommodate a chair lift? Even better, is there an elevator?  If the thought of using an elevator turns your nose up now, just use it for storage while those hips and knees are cooperating. They make great closets!crutches

I have a beautiful home for sale in the Ponce Estates area (adjacent to Coral Gables, Coconut Grove, and South Miami) that has it all: lots of space (4,000sf), lovely appointments, and an ELEVATOR!!!  It’s the baby boomer’s luxury.

48th ct

7830 SW 48th Court
4 Bedrooms / 4 Bathrooms
List Price: $1.549,000

To learn more about real estate in South Miami, Coral Gables, Coconut Grove, Pinecrest and Palmetto Bay, contact Val Byrne at val@valbyrnerealtor.com or at 305-323-6231. Val Byrne – Working For You!

EWM #1 in Sales Over $1,000,000!

No one sold more properties over $1,000,000 in Miami-Dade County in 2013 than EWM Realty International.  EWM agents sold 420 single family homes and condominiums in that price range last year, and that was 26% more than our next closest competitor (who sold 334 properties in that same price range)!

420

Releasing that information made me want to look back a few years at the prices in Dade County!  In January,  2003 the average price per square foot of a property priced over $1,000,000 in Dade County was $375.  When the market “peaked” in that 2007ish period the average price per square foot was in the $550-$600 range.  By mid-July, 2013, we were looking at about $625 per square foot, and by the end of the year we were in the $650ish price per square foot.  As we settle into 2014 I will be keeping my blog updated with facts and trends,  especially in Coral Gables, Coconut Grove, South Miami, Pinecrest, Palmetto Bay, and the Ponce/Road corridors, where I specialize in luxury real estate, both for sale and for rent. 

The Last 10 Years In Luxury Real Estate Sales
($1,000,000 and over)

 To learn more about real estate in South Miami, Coral Gables, Coconut Grove, Pinecrest and Palmetto Bay, contact Val Byrne at val@valbyrnerealtor.com or at 305-323-6231. Val Byrne – Working For You!

The Grammys, the Emmys, the Oscars, and the Chairman’s Club!

EWM Realty Alone RedEWM announced the 2013 Chairman’s Club members this weekend.  32 EWM agents in Dade and Broward Counties have been given the highest honor, the Diamond Club Level, for selling the most real estate (dollar volume) company-wide, and representing the most selective “top” 1/2 of 1%  of realtors nationwide.  They say a person is judged by the company they keep, and as a member of  the Diamond Club I am honored to be keeping company with these outstanding professionals, especially those selling real estate in Coral Gables, Coconut Grove, South Miami, Pinecrest, Palmetto Bay, and the Ponce/Davis corridor.   I not only specialize in real estate in those neighborhoods, but have lived in or been a property owner in each one of them too!Herald for Sherrie to email.indd

friends clip art

Val Byrne
Working For You!

 

A very special thank you to the Buyers and Sellers who worked with me this past year – it was a complete pleasure, and I am happy to call each one of you ‘friend’.  As they say at my son’s high school (Christopher Columbus High School), Adelante! 2014 is off to a great start!

 

To learn more about real estate in South Miami, Coral Gables, Coconut Grove, Pinecrest and Palmetto Bay, contact Val Byrne at val@valbyrnerealtor.com or at 305-323-6231. Val Byrne – Working For You!

Two Residences Recently Rented by Val Byrne in Coral Gables & Coconut Grove

PIC

42-200x150 33-200x150 23-200x150                                   118 Zamora Avenue, #206

Coral Gables, FL

List Price: $2,700/month

3

VIEW-200x150 EXTERIOR-POOL-200x150 EXTERIOR-BUILDING-200x150

2715 Tigertail Avenue, #510

Coconut Grove, FL

List Price $1,900/mo

“Going, Going, Gone” continues to be the trend in the rental market as prices creep up.  2014 is off to a great beginning at EWM with over $180 million in new sales and lease contracts being written in the last 3 weeks. Wow!

To learn more about real estate in South Miami, Coral Gables, Coconut Grove, Pinecrest and Palmetto Bay, contact Val Byrne at val@valbyrnerealtor.com or by phone at 305-323-6231. Val Byrne – Working For You!