Monday, July 27, 2009
Need A Ballroom?
One of our listings is crying out for a movie, sports star or consulate. With more than 8,300 sq. ft. on a Fairchild Gardenesque 27,000 square feet, this very private estate has it's own ballroom, with a fireplace. The owners kids, take fencing lessons in it and one of them is rated third nationally. Call me at 305.607.8360 to see this unique home. Offered at $2,750,000.
Miami 21 Coming Before Commission
Just learned the revised plan for city-wide rezoning, MIAMI 21, is coming before the City Commission on August 6 for its first reading. a vote is taken at the second reading set for a yet undetermined time. This is very important to the future Miami and especially, our Grove. Please plan to attend.
North Grove Measures Up to South Grove
For the first time in our Real Estate practice, the North Grove has reached parity with the South Grove. There was a time when buyers stated a well-defined preference to live in the South where property values were higher too. But now, property values are the same and data suggests there’s a buyer preference skewed to the North Grove.
As not only a Realtor, but an Elected Coconut Grove Councilman, I’ve paid attention to the zoning proposals of the Mayor Diaz government. The future of Miami calls for higher density living. That means taller homes, increased setbacks and altered floor to area ratios, where bigger homes will be built on smaller lots. All of this is coupled with an emphasis on mass transit. We might see, unfortunately, an urbanization of this cherished place. Additionally, the exclusivity that privacy brings will become a thing of the past, as shrubs, walls and fencing might not exceed three feet in height. The Diaz plan, over two years in the making and dubbed Miami 21, created uproar among activists and their elected leaders. The Village Council rejected it and so did the City Commission. It has been tabled, but may re-emerge after the mayoral elections in November.
Reduced density means more convenience, less traffic and more public safety for people living in those areas. And, that’s the reason the North Grove is emerging as a homestead of choice. Buyers have taken the trip during rush hour between 17th and 42nd Avenues and realize an additional commuting time from downtown of up to a half hour. Most residents living in the North Grove have easy access to the water at Kennedy Park, the Fresh Market is near and so are the marinas. Understand, we have lived in the North and South and as Top Producing Realtors list in both areas; we haven’t a preference. This discussion is about a trend we see emerging, evidence by the fact that of the forty homes sold in the Grove since January 1, only thirteen have been in the South Grove.
With this trend, pricing disparity between the two areas has vanished. The South Grove always commanded more, but not today. Homes in the North and South, selling for over $500,000, are being listed at an average $327 per square foot and selling at an average $286.00 per square foot. The average difference between asking and selling price per square foot is 10.43 percent and that’s across the board for the North and South. The Cherry Group doesn’t sell homes by the square foot, but still buyers make comparisons, in part, with this fundamental measurement and when pricing your home, price per square foot is worthy of your consideration.
What we have now is a “one” Coconut Grove, where property values at both ends of the village are the same. And, which statistically through the first half of this year, seems to indicate a buyer preference for the North Grove.
Gary Hecht and Sylvia Cherry – THE CHERRY GROUP AT COLDWELL BANKER
As not only a Realtor, but an Elected Coconut Grove Councilman, I’ve paid attention to the zoning proposals of the Mayor Diaz government. The future of Miami calls for higher density living. That means taller homes, increased setbacks and altered floor to area ratios, where bigger homes will be built on smaller lots. All of this is coupled with an emphasis on mass transit. We might see, unfortunately, an urbanization of this cherished place. Additionally, the exclusivity that privacy brings will become a thing of the past, as shrubs, walls and fencing might not exceed three feet in height. The Diaz plan, over two years in the making and dubbed Miami 21, created uproar among activists and their elected leaders. The Village Council rejected it and so did the City Commission. It has been tabled, but may re-emerge after the mayoral elections in November.
Reduced density means more convenience, less traffic and more public safety for people living in those areas. And, that’s the reason the North Grove is emerging as a homestead of choice. Buyers have taken the trip during rush hour between 17th and 42nd Avenues and realize an additional commuting time from downtown of up to a half hour. Most residents living in the North Grove have easy access to the water at Kennedy Park, the Fresh Market is near and so are the marinas. Understand, we have lived in the North and South and as Top Producing Realtors list in both areas; we haven’t a preference. This discussion is about a trend we see emerging, evidence by the fact that of the forty homes sold in the Grove since January 1, only thirteen have been in the South Grove.
With this trend, pricing disparity between the two areas has vanished. The South Grove always commanded more, but not today. Homes in the North and South, selling for over $500,000, are being listed at an average $327 per square foot and selling at an average $286.00 per square foot. The average difference between asking and selling price per square foot is 10.43 percent and that’s across the board for the North and South. The Cherry Group doesn’t sell homes by the square foot, but still buyers make comparisons, in part, with this fundamental measurement and when pricing your home, price per square foot is worthy of your consideration.
What we have now is a “one” Coconut Grove, where property values at both ends of the village are the same. And, which statistically through the first half of this year, seems to indicate a buyer preference for the North Grove.
Gary Hecht and Sylvia Cherry – THE CHERRY GROUP AT COLDWELL BANKER
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