THE GROVE IS A GREAT AND SAFE PLACE TO LIVE

Read more by clicking here: Coconut Grove is Miami's safest neighborhood South Florida Business Journal

CHERRY GROUP'S NEW BEACH LISTING IS A $3.5 MILLION WOW!

ARCHITECT ALFRED BROWNING PARKER

The Cherry Group just listed 1601 Cleveland Road on Miami Beach, with 90 feet on the Bay, for $3.5 million. Originally designed and built by iconic Tropical Architect Alfred Browning Parker, now in his 90s, for his sister in 1950, the current owners have totally renovated the home with Parker's written approval. Sitting on 11, 236 square feet, "1601" is 2,783, square feet and has 5 bedrooms and 4 baths. From the all new standing seam aluminum roof, all new exterior cedar shakes to the Amarillo Trina European Marble (same as at The Mandarin in Miami), the attention to detail is unmatched in our 20 years in the business. Its kitchen is loaded with a chef's necessities, yet appears clean and minimalistic. It has a 6 burner Viking gas stove and grill, Bosch & Fisher and Rakel dishwashers and Sub Zero refrigerator and wine cooler. This dazzling residence is a fusion of Alfred Browning Parker tropical design brilliance and its current owners eye for the ultimate in European Modern. Please click on the link below to see "1601's" floor plan and a comprehensive photo presentation

www.planomatic.com/6055

AVERAGE PRICE PER SQUARE IN THE GROVE DROPS TO $283.00.

The median sales price for homes in Coconut Grove FL for Jun 10 to Aug 10 was $510,200. This represents an increase of 27.6%, or $110,200, compared to the prior quarter and an increase of 34.3% compared to the prior year. Sales prices have depreciated 22.5% over the last 5 years in Coconut Grove. The average listing price for Coconut Grove homes for sale on Trulia was $1,044,661 for the week ending Sep 15, which represents an increase of 0.9%, or $8,975, compared to the prior week and an increase of 1.9%, or $19,629, compared to the week ending Aug 25. Average price per square foot for Coconut Grove FL was $283, a decrease of 1.4% compared to the same period last year.

PHOEBE IS TAKING A BREAK

Phoebe enjoyed the weekend cooling off in our pool. I spent the weekend enduring a total computer crash. I'm up and running now and will begin some serious real estate posts tomorrow.

CLICK ON ME FOR SIGNIFICANT GROVE SALES DATA FROM TRULIA.COM

Pleae click on the headline above. Really an accurate look at what reality is in Coconut Grove today. Trulia.com did a good job on collecting and representing the data.

SORRY, TIME TO BE JUDGEMENTAL

In the last week, I've called a few of the really big names in our business to make appointments to show my clients their listings. These are Realtors who take up a page in the newspapers with all the listings they have. They're listing machines! They take pride in the numbers of their listings and even get more listings because of the number of listings they have. It's all a numbers game, isn't it. The more listings one has, the more sales and that's the way it works. Forget about personal care. Forget about service to a client. Just keep listing and let the homes sell that sell, and the others can fall by the wayside.

With one agent I was told, "Sorry, we're committed and can't show the home for 5 days". The other said they're just to busy and to call back after the weekend. The third never returned the call. When will sellers realize a listing agent with a "big" personal staff of three or more people, can't necessarily serve in the client's best interest. I find it just so aggravating.

We never exceed a dozen listings because we can't PERSONALLY serve more. I don't remember when we didn't show a listing because it conflicted with out schedule. It has never happened in 20 years! Sylvia and I always......and I mean always.......present our listings to buyers ourselves. We pride ourselves in PERSONALLY staying in touch with our client-partners. You will see us beyond the listing appointment. Do this just for me. The next time you're inclined to list with one of these "big names" in our business, make demands. Demand they show your property personally. Demand they contact you within 5 minutes of the showing to give you feed back. Demand they give you a written report weekly. Demand they return your phone calls or emails within 1 hour. You deserve this kind of care because selling your home is everything in the world to you.

And still may I add, with the dozen or so listings we carry, and because of our devotion to client service, THE CHERRY GROUP has been the TOP PRODUCING REALTORS, for homes between $1 million and $5 million for twelve months running in zip code 33133. This simply reflects our commitment to selling your home, while taking all the hassle out.

GOOD LUXURY HOME AUGUST SALES DATA FOR THE GROVE

CLICK ON THE HEADLINE to see what went pending and sold in The Grove in August. Even though I check daily, was surprised we had activity about every three days. The Coldwell Banker Previews Luxury brand is still outperforming all others in the marketplace.

ONLY PHOEBE KNOWS

This is our one of our dogs Phoebe. Statistics in this market often contradict reason, so Sylvia and I sometimes turn to Phoebe to "sniff out" reality. As an example, in the midst of large inventory and declining sales, home prices are actually on the rise; they rose a half point in July and another half point in August. One possible reason is a seller often tosses the buyer a bone in the form of closing credits which still nets the seller less, but isn't reflected in the closed sale price. Creativity in marketing, staging, financing and especially negotiations are keys to getting the deal done. By the way, Sylvia and I are Certified Negotiations Specialists. We can put our knowledge to work for you to get your home sold.

WHAT'S THE PROFILE OF THE AFFLUENT BUYER?

ANSWER:
31% ARE CASH BUYERS
35% RETIRED MILLIONAIRES
36% MILLIONAIRE BUSINESS OWNERS
67% 35-55 YEARS OLD
88% MARRIED
MEAN AGE JUST UNDER 56
(MILLIONAIRES)
89% DESIRE 4-5 BEDROOMS
MOST IMPORTANT HOME FEATURE-A DESIGNER KITCHEN

SALES DOWN NATIONALLY 27 PERCENT LAST MONTH

Only the strong have survived the last five years in this business. Many Realtors are doubling up on jobs to make ends meet. When you interview a Realtor, make sure he or she is a full-time professional and not slinging hash on the side. You deserve more than a part-timer to manage the complex landscape of today's real estate transaction.

DON'T UNRAVEL YOUR BANK ACCOUNT ON NEEDLESS RENOVATIONS

Saw this on AOL this morning.....................

Not all renovations are smart ones. If you overspend on a kitchen or bath renovation, you're less likely to recoup that investment in the market. Keep in mind that the value of your home is tied directly to the property value of surrounding houses. Before splurging on a major remodeling project, find out the value of comparable homes in the neighborhood, as your price will vary relative to their worth. You don't want to be the best house on the block-your neighbors are pulling your value down. You'd actually prefer to be the worst house on the block, because then your neighbors are pulling your value up. So before investing in that new chandelier, find out how your house ranks among your neighbors. You might just be better off investing in a new paint job, fixing a sidewalk, or re-wiring your home.

IF YOU HAVE PETS, SEEK OUT PET FRIENDLY REALTORS

Sylvia and I have three dogs, a cat, turtle and fish. Our animals are at the center of our lives and we understand pet owners who are like us. If you plan to list your home, make sure your Realtor is pet-friendly. What could be worse than leaving your home in the hands of a realtor who is insensitive to the importance your animals have in your lives. There are so many horror stories out there about Realtors who have left doors open, to have dogs and cats escape, or have put animals in bedrooms during a showing and have forgotten to let them out. A current client of ours tells the story that while on a four day long weekend, their realtor had a showing at the house. The family's cat remained behind with plenty of water, food and a large liter box. The buyers were afraid of cats, so the realtor placed the cat in a bedroom, shut the door and went about her business. After the showing, the realtor entirely forgot about the animal. When the owners returned home, kitty was dehydrated having gone without water for a few days. It recovered, thank goodness. Additionally, the cat's liter box was in another room. Need I say more. A rule of thumb we have is, if our dogs don't like you, probably they have good reason. We really trust their instincts. How about having us in for a listing appointment and introducing us to your pets?

CLICK ON ME TO GET THE BAD NEWS!

When you click above, you'll see the market trends for last month. The discouraging news is more homes are coming on the market than projected which means the supply side is still overtaking the demand side and the economics of home buying are evermore siding with the buyer. More homes are expected to enter the market as banks get their "shadow" foreclosures to market, while short sales continue to erode home values. To get your home sold now, you just have to price right "on the money".

MOST EXPENSIVE REAL ESTATE IN MIAMI

Snapped One of the Grove's information booths this morning and was surprised to see a real person inside. No one was present when the streets were filled on Saturday night. I've seen a person in there only three times since they were erected. Happy to see it, because at a cost of more than $65,000 each, the cost per square foot is about $3,250.00. I don't know of any other real estate here coming close to its cost per square foot. That means a modest 2,000 square foot home would be worth $6,500,000 if comped against our information booths.

CHERRY GROUP STILL ON TOP OF ALL OTHER REALTORS IN COCONUT GROVE AND ITS ZIP CODE

The Cherry Group at Coldwell Banker are still the #1 Realtors in Coconut Grove and throughout its Zip Code 33133 for 12 months running, for homes priced between $1 million and $4,999,000 dollars reported Trendgraphix, an independent research company using Multiple Listing Service data. "For almost 20 years, our commitment to service and excellence hasn't wavered", Sylvia Cherry said. " Gary and I go to work each day with the excitement of rookies, tempered with the experience and knowledge that come with being veterans. "Above all", she said, "Appreciation and our heartfelt thanks go out to our valued and devoted clients over the years". About 90 percent of the Cherry Group's business comes from referrals.

DON'T PLAY MONOPOLY WITH YOUR HOME

In these difficult times, I'm being asked by home owners, " What should we do?" Does it make sense to go into foreclosure, or maybe a short sale? Should I intentionally not pay my mortgage (known as a strategic default) to get the attention of my bank who is slow to respond to my application to modify my mortgage? My response is always that I'm not an attorney or tax advisor and I'll be happy to refer them to professionals who really know what they're talking about. A good Realtor should never advise clients on these matters. Don't play Monopoly with your home.

GROVE COMING BACK

Sylvia and I decided to catch a 4:00 movie at the new Paragon Theaters in the Grove on Saturday. Afterwards, we took a stroll and were so happy to see more action at retail and fuller sidewalks. We had light dinner and spent $35.00 we wouldn't have spent in town if we hadn't gone to the movie. The theaters are a very good thing for all of us. As our village comes to life again, expect to see more real estate activity. A successful Grove goes hand-in-hand with home values and increased sales.

MARKET IS LOOKING UP!

In June prices were up and homes were on the market for fewer days. There's a lot of action on the street and it's time to list with us, reflected by our Emathla Street listing where we found a buyer in just 11 hours for all cash, near the asking price of $1,595,000. Click on this link to look at June stats http://coldwellbanker.net/marketTrend/fla/dade.html.

LOOKING FOR THE MOST AMAZING MODERN IN THE GROVE?

CALL GARY HECHT AT 305.607.8360

NEW LISTING - PETER JEFFERSON MODERN GLASS MASTERPIECE

ARCHITECTURAL CLASSIC, SECLUDED BEHIND CORAL ROCK WALLS AND GATED ON A QUIET LANE IN THE NORTH GROVE. SOME OF THE LARGEST BANYANS IN THE GROVE. ALL HURRICANE GLASS, FIVE YEAR OLD ROOF, HEATED POOL. KEYSTONE FLOORS WITH WIDE-OPEN SPACES AND 8 FT. CEILINGS. WHAT A KITCHEN – GAGGANEU DOUBLE OVENS AND GAS RANGE TOP, SUB ZERO REFRIGFERATOR/WINE COOLER, DOUBLE MIELE DISHWASHERS. OWNER MAJOR ART COLLECTOR – WALLS GALORE. FEATURED IN METROPOLITAN HOME AS A “FLORIDA CLASSIC”. ULTIMATE IN PEACEFULNESS AND SERENITY. THIS 3/4, 3,100 SQUARE FOOT HOME ON AN 8,000 SQUARE FOOT LOT IS OFFERED AT $1,225,000.

LIST TO CONTRACT IN JUST 11 HOURS

This Blog devotes time and space to the importance of well-targeted pricing. Yesterday at 9:00AM, we listed this beautiful home in the north Grove on a half acre for $1,595,000. By 8:00 PM, we were under contract with a cash offer. Having sold the home a couple years earlier, we devoted the entire day to contacting all the Brokers who previously brought clients to the house. Our efforts paid off.

Accurate pricing and experienced Realtors produce results. Please call Sylvia or me at 305.607.8360 to discuss listing your home.

HOT ACTION OUT THERE

The Cherry Group is selling as fast as we're listing. The Grove is the most desired location in Dade County. Now is the time to list with us and we'll make it happen!

WONDERFUL NEW LISTING ON SECOFFEE

Shaded by hundred year old Oaks and set way back from the street behind a wall and gates, sits this 2,100 square foot pool home on 14,184 square foot lot. A huge screened poolside porch provides a respite from the day's sun. A two car garage too. All this and more as we offer it for $812,500.

NEW LISTING ON INAGUA

GREAT INSIDE AND OUT!



LOOK AT THOSE FLOORS AND THE FIREPLACE, TOO!


The Cherry Group just listed 2521 Inagua Avenue for $695,000. It's been completely restored, while exuding its 1926 charm. At close to 3,000 square feet, including a one bedroom and one bath guest cottage, it's a good deal. Lots of original built-ins, a fireplace and stunning harwood floors too!

PRICE RIGHT - SELL RIGHT

Time and again we've seen sellers net more by pricing their homes on the money than not. When sellers price too high, the offer is usually lower than if the home were priced correctly. Often the distance between asking price and offer is too far apart for a meeting of the minds. High asking prices seem to reflect what a seller needs and not what the market can deliver. Rely on us to give you an accurate price opinion and if you follow our lead, we will see you at the closing table, more than likely, within 120 days.

CLICK HERE FOR GREAT GROVE DISCOUNTS

The Village of Center Grove Neighborhood Association has sponsored a discount program for years for Grove residents. Just click on the headline above and you'll see the countless opportunities to save money in our village. We try to spend our money locally because a strong business core buoys-up our housing prices......and that's something we all want.

LUXURY HOME SALES PICKING UP TO BOOM YEARS!

The Wall Street Journal reported today that for the first quarter of this year, 21 homes closed in Miami-Dade for $2 million or more, compared to 23 that sold in the same period at the height of the boom five years ago. Compared to the same period last year, 15 sold. It's time to list and we'd appreciate your call at 305.607.8360 for a pressure-free price evaluation.

THE RACE IS ON

As we approach the Memorial day weekend where activities traditionally slow in the real estate market, The Cherry Group has been besieged by buyers visiting our listings and other properties we show them. Now that we've bottomed-out on prices, more of our neighbors are considering listing their homes. We have made three listing presentations alone this week. Have a wonderful holiday!

LATEST TRENDS FOR MIAMI-DADE REAL ESTATE

Please click on this Headline to learn the latest in pending and sales contracts for Miami-Dade. It clearly shows a drop in inventory and price stabilization. I think we're coming out of it.

A MUST FOR REALTORS AND SELLERS ALIKE

Many Realtors are inclined to list a home for what the owner needs, instead of what the market will support. That's called "buying a listing". It's an awful disservice to an owner. The result, almost always, is that the house languishes on the market and eventually sells for less than if the owner had priced the property correctly in the first place. For 20 years, we've built our practice on a foundation of truth. The result has been we sell 98 percent of the homes we list and we have very satisfied clients. We're breaking all the Blog rules here by posting a long article instead of just a "blip" on the radar screen. Couldn't help it because, although it was written by a Top Producing Realtor like us for other Realtors, it's a must read for sellers too. Read this by Scott Friedman from New Jersey.

Chances are you're not going to like this article.
What I am about to write flies in the face of the vast majority of real estate agents in North America today. That is, the number one thing that contributes to the sale of a home, in any market, is the price of the property. That's it.
Location, features, benefits...all of those have a price tag. What that means is, if I had a dump of a house in a dump of a location, it would sell if the price was low enough. That being said, what's low enough for a buyer to want to buy may not, in fact, be low enough for a seller to want to, or be able to sell. Yes, that was simple economics at it's best and it lends to explaining much of what has gone on the last few years...the price a seller would/could sell a house for far exceeded the price a buyer would (and sometimes could) pay for the house.
Now, let's get back to the reason you, and most agents, might not like this article.
Both when practicing real estate (May 1998-Dec 2006, top ten percent in my market 2001-2006), and more recently as a coach, I've heard the arguments against price being the number one reason homes sell. Most of those reasons center around an agent's ego and/or the huge misconception as to what their job actually entails, as well as some sort of misplaced loyalty to the seller and the price they say they want. (Before I go any further, I'm not in any way advocating that you shouldn't be loyal to your sellers. I'm saying defending a random price a seller tells you they want, ignoring comps and any sense of reality, is misplaced loyalty.)
Some of the arguments from agents:
"If price is the only thing that matters, then we real estate agents aren't needed." - Guess what? That's actually kind of true. If you've ever heard of a FSBO selling on their own, then you automatically realize selling a house can be done without a real estate agent. The good news is that the vast majority of FSBO's do not sell without the help of an agent (even if only on the buyer side - but most end up listing). And, unfortunately for the FSBO seller, they get a very low list to sale price ratio as compared with when listed by an agent (both stats are published by NAR). So, on some level, my fine fellow agent, you are definitely needed...so breathe a little easier.
"All you want to do is lower the price as far as you can, darn the seller, and take your quick commissions!" - A buyer will not buy something they don't feel is priced correctly; plain and simple. I'll explain more about that later in this article. In the meantime, I can only go on statistics/facts. My personal statistics in my former real estate practice showed my listings selling for an average of 4-9% more and up to twice as fast my market's average, depending on the year. Simply put, I was getting my sellers more money, and selling their homes much faster than the market average. So how was I harming the seller? I don't know many sellers that want their home to sit on the market for a long time, do you? Do you know of any seller's who want LESS money for their home? I sure don't.
And where does this false sense of loyalty to the seller's price come from? I'm sorry, but it's so misplaced. I always wanted to get as much money as possible for my sellers, and did my absolute best to make that happen. But just because a seller WANTS a certain price doesn't mean they'll get it, or, in most cases, that it's even realistic. I'm sorry if the seller paid $400,000 and owes $350,000. If the comps say it's worth $275,000 then that's what it's worth. Listing it at $400,000 so the seller can feel like they broke even does NOT mean the home is WORTH $400,000. Nor does it mean they will get anywhere near that. In fact, in my example, with it being so far overpriced, if there isn't a significant price reduction, the house likely won't sell at all. How is that protecting the seller?
I don't want to digress too much, however in a previous article I wrote on negotiating, I discussed the issue of many listing agents being egotistical about the price they set on their listings. If a buyer comes in low, the listing agent scoffs and postures to the buyers agent about how the home is worth every penny of what it was listed for, etc. Please. The only true test of what a home is worth is what a ready, willing, and ABLE buyer is willing to pay...not what the listing agent or the seller thinks its worth."It's not price, it's marketing. Staging, open houses, broker opens and advertising are all where it's at." - This is the reason for the big chasm between the average agent (selling between 2-5 houses a year, on average, according to NAR) and the higher producers (over 25 homes a year). Agents who sell a lot of homes know how to SELL, and know that their job is to SELL the home for the most money possible. Agents who don't sell a lot of homes typically aren't good salespeople, don't actively prospect for buyers and sellers and think their job is not as a real estate SALESperson, but rather a real estate MARKETINGperson.
Simply put, you can market a house to the hilt, but it will NOT sell if the buying public thinks it's overpriced. In fact, today's shrewd buyer who combs the internet and does their homework, won't even look at home that they feel is overpriced; unless they think they can get a tremendous low-ball deal. And, if you want to take a notorious low-ball buyer around so he/she can throw offers up on a wall and see what sticks, have at it. You'll end up doing a lot more work and probably be very frustrated. So, let's investigate some of these marketing ideas:
Staging - I'm always amazed at how someone comes up with something for agents that doesn't sell homes, yet agents buy into it in droves. Text "MOVE" to 12345 and receive no obligation information on this listing. That worked for about a minute until buyers realized they would get called back from agents they didn't want to talk to. Now, it's no better than a regular sign with a regular phone number or website. Or, how about the private radio station that drive-by buyers can tune into and hear all about the house? Way to go! You just bought something that assures you of never hearing from your buyer leads! They won't need to call you to find out information because you gave it to them on their car stereo.
Staging is one of those tools that doesn't sell a house. Yes, the house should always look its best. And, yes, if you stage a house, it will look better than the competition. BUT...staging only works better to sell your house versus the competition if the home is priced competitively. Let's say you're in a development, and two identical houses on the same street are for sale. One is for $350,000 and NOT staged. The other is for $425,000 and is staged. The seller or agent who paid for staging of the $425,000 house doesn't know anything about sales or economics and wasted their money. No amount of staging in the world can trick a buyer into grossly overpaying for a house.
Open houses - This is the biggest real estate scam ever perpetuated on sellers. And the funny thing is, many sellers will fight tooth and nail for the right to leave their house for multiple weekends in a row so that you can park yourself there for 4-6 hours at a time and put balloons out front.
NAR itself puts out a report every year that shows a very small percentage of buyers buy the home they saw open. It's usually around 1%. That is an astonishingly low rate of return on your marketing efforts. Open houses do provide buyer leads for the AGENT, not the seller. All listing agreements should come with a disclaimer showing the past year's NAR percentage of homes actually bought due to the open house.
Low producing agents love open houses because they haven't been taught, or are too afraid, to prospect for business. So, the idea of sitting in a home and having potential buyers come to them seems good. Never mind that most people are just looking, and the percentage of leads converted to actual buyers (and the time it takes to convert them) is no better than a call in on a sign or website. And let's not mention the fact that you may sit all day at a house and have NO traffic. God forbid if it's a rainy weekend.
Broker opens - These have a small chance of helping you sell the home because it can get you exposure to agents who missed it in the myriad of listings on the MLS. However, it's usually not worth doing a broker open until well into the listing term, and is most effective to get a price reduction for the seller by having the agents write their pricing opinions on a survey card (darn, there's that pricing thing again). And here's the fundamental flaw - top agents, you know the one's doing 90% of the business, are typically too busy to stop at broker opens. So you're exposing the property to a handful of agents who have nothing better to do than to eat your free lunch. Look, I know I'm sounding harsh, but my big concern is that many agents think their job duties entail hosting and going to things like broker open houses and working on making a pretty brochure...things that DON'T help sell a home.
Advertising - Here's another scam on the seller. NAR reports a very small percentage of homes are sold as a result of being advertised. I will admit they also report a slightly higher percentage of homes are sold as a result of the buyer calling in on a different home, so advertising can help (but the home still has to be priced right). For the sake of this article however, I want to stick to the specific house you have listed, and I'm talking about advertising over and above the norm. I mean the type of advertising where the agent thinks it's the solution to why the home hasn't sold in the last 90 days. We all know that every agent does some form of advertising, whether it's the MLS itself, the various websites that agents/companies have, the websites that pick up listings from the MLS, or the newspaper ads your company provides.
Here's the flaw: If your local grocery store paid for circular ads in your town's Sunday paper, and advertised premium, no-filler, turkey lunchmeat at $50 a pound, how many people would buy it? The answer is nobody. Two things would happen. People might still visit that store, but they would buy another brand of turkey lunchmeat (congratulations, you're overpriced turkey ad sold the competition), or people will go to another store all together to buy that brand at its normal price. In any case, the store could have spent millions of dollars on ads all over the place and it wouldn't matter a lick in regards to the sale of that brand of turkey. Yet sellers and agents all think that more advertising will equal a sold home.
The bottom line is that your job as agent is to educate the seller and list the house at a price that will cause the home to sell. Stop kowtowing to the seller who wants to overprice the home. Stop with the false sense of loyalty to a pie-in-the-sky price, against all reasonable economic sense as evidenced by the comps. Stick to your guns, be professional and price it right. Or, horrors, be willing to say “no” to the seller, and walk away from listing the home if they insist on overpricing it.
You’ll be doing yourself a huge favor, I promise you. Even if another agent lists the property, don’t worry. It’s not going to sell. Look at your market. Look at any market. Overpriced listings don’t sell. Why do you think there are so many expireds? Oh, right, I forgot. The agents all must not have staged those homes. Yeah, that’s it.
Scott Friedman is a former top producing agent from New Jersey. He is a speaker, coach and co-founder of You're The Difference Sales Coaching. He is also co-author of the highly acclaimed objection handler book Now What Do I Say? If you're interested in learning what to say and how to say it so that you can sell more homes, visit www.yourethedifference.com for more information on the book and other products, as well as training and coaching. To ask Scott a question about your business, or hire him to speak or coach, email scott@yourethedifference.com, or call 609-601-1296.

HIGHER INTEREST RATES AHEAD

Expect interest rates to climb this spring resulting from the Federal Reserve stopping the purchase of mortgage-backed securities. Although it's projected the increment shouldn't exceed 3 10ths of a point, usually rising mortgage rates drive more buyer activity. The Grove is flat in pending and closed sales right now, in addition to few new listings. I'm surprised that still, most of the luxury properties coming on the market are over-priced.

CHERRY GROUP OFFERS BEST SEARCH ENGINE IN REAL ESTATE

Acquire your own, free login ID for The CherryGroup.Listingbook.com and have at your fingertips the most comprehensive search engine to check out the real estate market. Whether you're buying or planning to sell, you'll keep yourself abreast of the market on a site that updates every thirty minutes. Just follow the simple instructions and join more than 100 of our clients using the cherrygroup.listingbook.com. Go to the right of the page and click on "Listingbook".

MIAMI'S CITY HALL A MUSEUM?

Founded in 1927, Pan Am Airways began as a scheduled air mail and passenger service between Dinner Key in the Grove and Havana. Its terminal became Miami's City Hall. Now The Pan Am Historical Foundation in Bethpage, New York would like to convert our City Hall into a Pan Am Museum, to probably include a food service on the water. What are the chances?

STAGGERING SUPPLY OF HOMES IN MIAMI-DADE OVER $3 MILLION

We have a 36 month inventory of estate quality homes for sale in Miami-Dade County priced between $3 and $5 million. The only means to cut through the clutter is aggressive pricing.

NEW PLANS AFOOT FOR THE GROVE

Tuesday, March 30 at City Hall in the Grove at 5:30, the BID (Business Investment District) leadership will present plans for expansion of sidewalks and traffic rerouting to the Commission. I've seen the plans and like them. This is the only time for public input and it's an event you should put on your calendar.

WE'RE STILL OUT OF TOUCH

In today's Herald on the front page of the Business Section, check out the report on asking prices for our homes. Most of us are listing our houses outside today's values, which should be about 30 percent from 2006 highs. Clients who don't recognize the down swing in values always ultimately sell their homes for less than if the homes were priced right at the beginning. Recently, a client over-priced his home at $2.2 million and early-on rejected $1.8 million. After a series of price reductions, he accepted $1.665 million. Have us come in and give you an honest price analysis.

THE CHERRY GROUP NAMED TOP 2 PERCENT IN US

At a Coldwell Banker awards breakfast recently, The Cherry Group was named a member of the prestigious Presidents Circle, representing the top 2 percent of all Realtors in the US. Charles Richardson, a Senior Vice President of the company said, " We're so proud to have Sylvia and Gary on our team. In addition to being Top Producers, they have elevated the professional standards of our industry."

LESS INVENTORY - MORE PENDING CONTRACTS

Less inventory and more pending

contracts spell overall recovery. Yet, we have a thirty-three month inventory for homes over $1,000,000. Homes prices must reflect today's home values to attract buyers.

CHECK OUT OUR NEW LINK

Please look over to the right of this page and click on to our new link "LISTINGBOOK" to enjoy the same access to the MLS as we have. You may also visit the site by going to thecherrygroup.listingbook.com. You will receive by email your own log in information. Then go back to the site, log in and receive your own search page. Fifty clients are using it already and have emailed to say it's the best search engine and real estate information site on the Market. You can even do your own CMA (comparative market analysis) for your own home to check its value. As always, please call me at 305.607.8360 if you have any questions.

FIRST OFFER IS USUALLY THE HIGHEST

Realtors know from experience that the old saying has proven true time and again,"The first offer is usually the highest offer". We can't tell you how many times clients have said they should have listened to us. When that offer comes in, especially in today's market, know the likelihood of getting a higher one is small. Of course there are bottom fishers, but we know when an offer makes sense to seriously consider,especially after opining with our clients that they might be listing their homes substantially over market value. We generate pricing advice from hard data on what has sold the last three months, just like appraisers. Listing too high will only generate offers that are too low.

LIST NOW TO ATTRACT BUYERS SEEKING TAX CREDIT

The government tax credit for home buyers expires on April 30. First time buyers receive an $8,000 credit and current qualifying homeowners buying another property receive $6,500. The credit is given on home purchases up to $800,000. All projections I've read cite a slow-down in what is now a well-paced market after the credit expires. List with The Cherry Group now to capitalize on today's positive market environment.

TODAY'S HOT-BUTTONS FOR BUYERS

In a recent survey of home buyer preferences, there are 10 “must” features in new homes:
1. Large kitchens, with an island. If you’re going to spend design dollars, spend them where people want them—spend them in the kitchen.
3. Energy-efficient appliances, high-efficiency insulation and high window efficiency. Among the “green” features touted in homes, these are the ones buyers value most. While large windows had been a major draw, energy concerns are giving customers pause on those. The use of recycled or synthetic materials is only borderline desirable.
4. Home office/study. People would much rather have this space rather than, say, a formal dining room. The dining room has become tradable. And the home theater may also be headed for the scrap heap.
5. Main-floor master suite. This is a must feature for empty-nesters and certain other buyers, and appears to be getting more popular in general. That could help explain why demand for upstairs laundries is declining after several years of popularity gains.
6. Outdoor living room. The popularity of outdoor spaces continues to grow. The idea of an outdoor room is even more popular than an outdoor cooking area, meaning people are willing to spend more time outside.
7. Master suite soaker tubs. Whirlpools are still desirable for many home buyers, but they clearly went down a notch in the latest survey. Oversize showers with seating areas are also moving up in popularity.
8. Stone and brick exteriors. Stucco and vinyl don’t make the cut.
9. Community landscaping, with walking paths and playgrounds. Forget about golf courses, swimming pools and clubhouses. Buyers in large planned developments prefer hiking among lush greenery.
10. Two-car garages. A given at all levels; three-car garages, in which the third bay is more often than not used for additional storage and not automobiles, is desirable in the move-up and custom categories.

"WAIT-N-SEE" BUYERS ARE LOSING OUT

We're seeing surprised and saddened buyers missing out on their dreams because they waited too long, thinking our market has more price adjustment ahead. We have calls on two of our pending listings where buyers are incredulous their dream homes are under contract. On one luxury home we have a back-up contract for more than the accepted offer. The time to list or buy is right now.

THE CHERRY GROUP CONTINUES AS #1

Coldwell Banker Residential Real Estate announces that The Cherry Group is again the Number 1 Realtors for Coconut Grove sales in its Coconut Grove Office. Named among its TOP 100 REALTORS IN FLORIDA, The Cherry Group has enjoyed a flourishing Real Estate practice for almost 20 years. Having virtually sold out our entire inventory, we're seeking new listings for the new year. Please call us for a confidential meeting to discuss the particulars in marketing and quickly selling your home at the highest price.