Cherry Group Brings Own Buyer to Week Old Listing

The Cherry Group, The Coconut Grove Realtors, brought its own buyer to to its listing at 2131 Secoffee Street in Coconut Grove. Listed for $520,000, the two-story fully gated 2,244 Square Foot home is a 3/3 on a 7,080 Square Foot Lot. The Cherry Group notes this has been the busiest holiday season in recent memory. Gary Hecht is only one of two Realtors in the Coconut Grove Office today and we're busy with out-of-towners looking for single family second homes and the few well-priced condos still available.

NEW LISTING FOR THE CHERRY GROUP

The Cherry Group signed a listing agreement in Cocoplum for a perfectly done and maintained 5/5/1, 5,400 square foot home on 17,597 square foot lot. Because a vast, new brick circular drive is being innstalled, the owner asked we activiate the listing mid-January. If you or a friend want to get in on the ground floor to see this property before it's gone, please call Gary Hecht of The Cherry Group at 305.607.8360. The Cherry Group has not had a listing expire in years because we are the pricing authorities and our sellers regard our comparative market analysis the best in the business. They almost always accept our valuations and we get their homes sold quickly, usually within 4 months. This Cocoplum perfect home with Venetian plaster walls and other details expressing European excellence is priced to sell at $2.4 million.

Home Market Housing Report from The Cherry Group, The Coconut Grove Realtors

Home Market Housing Report Coconut Grove/Coral Gables


The Cherry Group, The Coconut Grove Realtors, had the highest priced sale with our closing at 3612 Bayshore Villas Drive.

Closed Sales October & November 2011 ($250k+)

3612 Bayshore Villas Dr (Bayshore Villas) -3/3/2/5273 sq ft $1,700,000 $322/ sq ft
2200 Tigertail Av-5/5/1 + pool, 3891 sq ft/6185 sq ft lot $1,425,000 $366 /sq ft
4095 Park Av-6/5/1 + pool, 3992 sq ft/11,813 sq ft lot $1,250,000 $313/ sq ft
159 W Shore Dr-5/4 + pool,3787 sq ft/21975 sq ft lot $850,000 $224 / sq ft
4098 Malaga Av-4/3/1 + pool, 3051 sq ft/6100 sq ft lot $758,150 $248/sq ft
1935 Secoffee St-3/2 + pool, 2076 sq ft/14,184 sq ft lot $710,000 $342/sq ft
3645 Palmetto Av- 3/3 + pool, 2530 sq ft/ 7000 sq ft lot $633,000 $250/sq ft
4129 Hardie Av-3/2/1 , 2457 sq ft/4650 sq ft lot $600,000 $244/sq ft
2322 Lincoln Av-3/2/1 + pool, 2973 sq ft/12,880 sq ft lot $540,000 $181/sq ft
2330 Lincoln Av-3/2, 2000 sq ft/9,600 sq ft lot $532,000 $266/sq ft
305 E Shore Dr-4/3 + pool 2937 sq ft/ 13,000 sq ft lot $530,000 $180.00/sq ft
2785 Crystal Ct-3/2 , 1919 sq ft/4914 sq ft lot $520,000 $271/sq ft
4160 Hardie Av-3/3 + pool, 1519 sq ft/ 6500 sq ft lot $478,500 $315/sq ft
1875 Wakeena Dr-3/2 , 1811 sq ft /9090 sq ft lot $360,000 $199 /sq ft
2510 Inagua St-3/2, 1885 sq ft/7545 sq ft lot $250,000 $133/sq ft

Homes Under Contract (awaiting closing) in 33133
3333 S Moorings Wy 5/5/1+pool, 5495 sq ft/11300 sq ft lot/asking price $3,250,000 Wtfr
3665 St Gaudens Rd 5/4/1 + pool, 4264 sq ft/10008 sq ft lot/asking price $1,395,000
89 Bay Heights Dr 5/4/1 + pool, 4,264 sq ft/12320 sq ft lot/ asking price $1,090,000
1823 S Bayshore Ln- 4/4, 2521 sq ft/6427 sq ft lot/ asking price $765,000
2025 Secoffee St 4/3/1 + pool, 3500 sq ft/21600 sq ft lot/ asking price $700,000
4060 Woodridge Rd 4/3 + pool,2,276 sq ft/8704 sq ft lot/ asking price $669,000
4195 Park Av 2/1, 1,072 sq ft/10252 sq ft lot/asking price $579,000
2300 Tequesta Dr 3/2, 1,877 sq ft/7,500 sq ft lot/ asking price $537,000
2430 Swanson Av 3/2, 2,206 sq ft/6,628 sq ft lot/ asking price $525,000
3701 El Prado Bl 2/2 +pool, 1,227 sq ft/9566 sq ft lot/ asking price $495,000
4055 Bonita Ave 2/2 + pool, 1551 sq ft/8023 sq ft lot/ asking price $475,000
4140 Crawford Av 3/2 + pool 1846 sq ft/6750 sq ft lot/ asking price $450,000
3558 Royal Palm Av 2/1, 831 sq ft/7000 sq ft lot/ asking price $400,000
2427 Tequesta Ln 3/2, 1,566 sq ft/3500 sq ft lot / asking price $399,000
4040 Hardie Rd 3/2, 1127 sq ft/7000 sq ft lot/asking price $350,000

There are 124 homes for sale in Coconut Grove $59,000 -$12,000,000

In this dynamic market… speak with someone who knows HOW to get results
Sylvia Cherry & Gary Hecht –“The Cherry Group”, THE COCONUT GROVE REALTORS
Call 305.992.2211
Email Sylvia.cherry@floridamoves.com
In the top 100 Realtors in Florida and Specializing in the Sale of Homes in 33133
Information gathered from consolidated MLS

The Cherry Group Heads to New Year With Another Wonderful Closing

The Cherry Group, The Coconut Grove Realtors, closed its listing at 3512 Bayshore Villas Drive today and again brought its own international all-cash buyers. One of 25 single family estates in the gated enclave, Bayshore Villas, the home sold for $1,700,000 or $322.38 per square foot. A 3 bedroom, 3 bath and 2 half bath home, it showed beautifully and reflected the best in European elegance.

Home Values Sure To Keep Rising

The Cherry Group, The Coconut Grove Realtors, received a report a few moments ago from our Broker, Coldwell Banker. Look out! Inventory, on average, in Miami is down to 6.3 months from its high of 36 months of inventory at the height of the housing crisis in 2008. Broward County has about 5.4 months. Shorter supply means prices are moving up. Beginning to get calls from Art Basil visitors wanting to see properties, especially with lots of wall space.

Still Have to Patient When Listing

The Cherry Group, The Coconut Grove Realtors, is often asked by clients, "Are these people looking at my home serious"? The answer comes from how long they've been looking and how specific they are in communicating their wants and needs. The National Association of Realtors reports the median home search is 12 weeks. So when I ask a buyer how long have they been looking, it's an important question. If they just started their search, we might not see them again for a few months, if ever. When a buyer tells us he's not sure what community he wants to live in, we know he has a long way to go before coming back. On the other hand, should he say "I want Coconut Grove, a 4/3 mid-century modern with a bigger lot and great pool (have one like that a 3941 Crawford in the Grove), we know he's ready to get serious. Time looking and specific wants and needs mean a lot to a seasoned Realtor. By the way, average days on market in Miami-Dade is now down from 116 to 106 days.

Baby Boomers Coming to the Plate

There are 79 million baby boomers, and this year, the oldest boomers turn 65. Their impact on the economy is enormous, so looking at the home buying trends of this group highlights interesting differences between older and younger boomers. A new survey from Coldwell Banker reveals that younger baby boomers are interested in purchasing a second home (34 percent) as compared to their older boomer counterparts (22 percent). Here are some highlights of what we learned:
Not surprisingly, 87 percent of 1,300 agents and Brokers polled agree that the economy is delaying baby boomers’ plans to sell their homes.
However, the desire to own one or more homes in this generation remains strong. 87 percent of the respondents have boomer-aged clients who already own or are looking to own and investment property.
80 percent of respondents said that older boomers (age 56-64) are more likely to want to downsize than younger boomers, but it’s not all about money: 49 percent said the primary reason boomers in general are downsizing is for a simpler lifestyle.
More than one-third (34 percent) of agents say younger baby boomers (ages 47-55) are interested in purchasing a second home, and 31 percent of respondents say they are working with younger boomers selling and looking for larger homes The Cherry Group, the Coconut Grove Realtors, hasn't seen any noticeable influx in single family home sales here with this demographic. All of our sales have been with International, all-cash buyers in their forties and fifties.

The Cherry Group, The Coconut Grove Realtors, Takes Another Great Grove Home Pending

The Cherry Group, The Coconut Grove Realtors, brought the international, all-cash buyer to it's listing at 3512 Bayshore Villas Drive. Asking $1,735,000, the three story single family home is the ultimate in European elegance and one of 25 homes in the gated enclave , Bayshore Villas. The Cherry Group at Coldwell Banker was selected by CitiGold, CitiBank's high equity client division, as its exclusive Realtors. Through that relationship and significant investments in international marketing, The Cherry Group has repeatedly brought cash buyers to its listings.

The Cherry Group, The Coconut Grove Realtors, Shares Its Latest Newsletter

Enjoy our Florida statewide and national HOUSING TRENDS NEWSLETTER http://thecherrygroup.housingtrendsenewsletter.com/ . Among other items you'll see is that in most markets, it still makes more sense to own than to rent. The Cherry Group, The Coconut Grove Realtors, always has the latest data to enable you to make informed decisions if you're selling here or buying anywhere in the United states.

Open House Wednesday A DUD

The Cherry Group, The Coconut Grove Realtors, reviewed the MLS for Broker single family home Open Houses in Coconut Grove and saw none. Every Wednesday Brokers open up their new listings so the Real Estate community can review the new inventory. We remember the day when 10 or 15 homes were open for previews, but not now. This is significant because the inventory for quality, well-priced homes is dwindling and virtually nothing is coming to market, driving values up by 1.5 percent on listed homes. There cannot be a better time to list in a market with modest inventory and mortgage rates in the basement.

Work Goes On After Closing with Foreign Nationals For The Cherry Group

The Cherry Group, The Coconut Grove Realtors, by necessity has created a concierge service for its Foreign National buyers. Most of our buyers lately have been from France, Mexico and South America and are buying major properties as second or third homes. Recently a buyer from France wired cash for the transaction and all was well until he attempted to have utilities turned on without having a US banking relationship. FP&L does not take foreign credit cards or accepts wires. To keep the house humming he put his deposit in our Paypal account and in turn, we deposited the money onto our credit card to pay FP&L a hefty deposit. We arranged for his pool and gardening services as well. He'll be in the States in 10 days and will establish a banking relationship at that time. Sylvia recently sold a beautiful Miami Beach condo to a Mexican family brought to us by CitiGold, Citibank's high equity division, to whom The Cherry Group is their exclusive Realtor. While the buyer was in Miami, Sylvia arranged for him to meet with furniture, closet and electroncs suppliers. The buyer returned to Mexico and Sylvia has invested almost a week at the condo overseeing the installation of all systems. When selecting a Realtor, you should consider three key factors; 1. Does he have vast experience in your neighborhood, like The Cherry Group in Coconut Grove? We have lived here for 20 years; 2. Does the Realtor have comprehensive market knowledge?; and 3. Is the Realtor tireless in providing service to its clients? It makes sense to hire a Realtor who has in-depth knowledge and experience working with buyers who account for the bulk of S. Florida sales- Foreign Nationals.

The Cherry Group, The Coconut Grove Realtors, Shows Latest Market Trends

Coconut Grove Realtors, The Cherry Group, sees very favorable housing market trends. Just click on the headline to see data.

MAGICAL MIAMI MODERN LISTED BY THE CHERRY GROUP, THE COCONUT GROVE REALTORS

Located at 3941 Crawford on a 10,500 square foot lot, this Zen-Like beauty is competitively listed for $1,275,000. If you like open spaces, high ceilings and one of the most beautiful chef's kitchens in the Grove, this is the one for you. With one of the largest and deepest pools in Miami, visible from most rooms, the outdoor spaces are vast and accomodating. Call Gary Hecht of The Cherry Group, The Coconut Grove Realtors, at 305.607.8360

THE CHERRY GROUP, THE COCONUT GROVE REALTORS, PRESENTS ITS HOME MARKET NEWSLETTER

Coconut Grove Home Market Newsletter presented by The Cherry Group:
Closed Sales, August & September 2011

3333 Poinciana Ave - 4/ 4/1/2 + Pool 6573 sq ft 10,800 sq ft lot $3,440,000. $523 sq ft (Wtrfrnt)
4110 Kiaora Ave- 5/6 + Pool 6323 sq ft/56,628 sq ft/ lot $2,425.000. $384/sq ft
3350 Poinciana Ave- 5/5/1/2 + Pool/ 5085 sq ft/11737 sq ft lot $2,400,000. $472/sq ft
3950 Wood Ave- 5/5 + Pool / 7111 sq ft/20,700 sq ft lot $2,200,000. $253/sq ft
3740 De Garmo Ln- 5/5 = pool 4550 sq ft /11138 sq ft lot $1,993.900 $438/sq ft
3618 St Gaudens Rd- 4/3/1/2 + Pool/ 3440 sq ft/ 11,925 sq ft lot $1,800,000. $523/sq ft
3569 N Bayhomes Dr- 6/6 3632 sq ft/ 20606 sq ft lot $1,400,000 $385 /sq ft
3835 Park Ave 6/6/1 + pool 5514 sq ft/ 11774 sq ft lot $1,305,000 $236 sq ft
4170 Raynolds Ave- 4/3 + Pool/ 3439 sq ft /7000 sq ft lot $966,750 $287/ sq ft
3470 Moorings Way- 4/4 + pool/ 3510 sq ft/ 11700 sq ft lot $960,000 $273 sq ft
2457 S Bayshore Dr 3/4 + pool/ 3143 sq ft/ 4916 sq ft lot $1,125,000 $358 sq ft
2690 Hilola St 4/3 + pool/3916 sq ft/8250 sq ft lot $1,000,000 $255/sq ft
3863 Douglas Rd 4/4 + pool/ 3892 sq ft/ 16800 sq ft lot $835,000/$215.00/sq ft
4243 Lennox Dr 3/2 + pool 3892 sq ft/13125 sq ft lot $835,000/$360.00 /sq ft
4161 Raynolds Ave 4/3 + pool 2512 sq ft/5740 sq ft lot $720,000/$286 sq ft
3909 La Playa Bl 3/3 + pool 1680 sq ft/ 9600 sq ft lot $590,000/$351/sq ft
2336 Swanson Ave 4/3 + pool 2244 sq ft/ 9600 sq ft lot $530,000/236/sq ft
3995 Park Ave 4/3/1+ pool 3748 sq ft / 11240 sq ft lot $530,000 /$141/sq ft
3611 Poinciana Ave 3/2/ 2573 sq ft/7500 sq ft lot $510,000/$198/sq ft
50 Bay Heights Dr 4/3 + pool 3202 sq ft/ 9826 sq ft lot $500,000/156/sq ft
Homes Under Contract (awaiting closing) in 33133
2200 Tigertail Ave 5/5/1 + pool 3891 sq ft 6185 sq ft lot List price $1,699,999
1723 Tigertail Ave 4/3 + pool 3891 sq ft /6185 sq ft lot List price $995,000
1935 Secoffee St 3/2 + pool 2076 sq ft/14184 sq ft lot List price $749,000
3753 Matheson Ave 2/2 1182 sq ft/13000 sq ft lot List price $699,000
4146 Poinciana Ave 4/3 3280 sq ft/6000 sq ft lot List price $650,000
4160 Hardie Ave 3/3 + pool 1519 sq ft/6500 sq ft lot $585,000
2330 Lincoln Ave 3/2 2000 sq ft/9600 sq ft lot List price $560,000
2785 Crystal Ct 3/2 1919 sq ft/ 4914 sq ft lot List price $539,000
There are 151 homes for sale in Coconut Grove $59,000 -$12,000,000
Information gathered from Consolidated MLS

In this difficult market… speak with someone who knows HOW to get results
Sylvia Cherry & Gary Hecht –“The Cherry Group” call direct
305.992.2211

Email Sylvia.cherry@floridamoves.com
Top Producing Realtors Specializing in the Sale of Homes in 33133

Track market activity or search for all homes at our website
www.thecherrygroup.listingbook.com
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The Cherry Group, The Coconut Grove Realtors, Says Maintain Your Trust

The Cherry Group, The Coconut Grove Realtors, has one of its listings pending sale in about a week. A Trust was formed to hold Title when it was purchased. When the Title Company did its due diligence, it discovered the owners didn't maintain the Trust and it is now defunct, disallowing it to convey any assets held in it, including the home. If your home is held in Trust, remember to pay annual fees and keep the Trust active.

THE CHERRY GROUP, THE COCONUT GROVE REALTORS, WARNS: HIRE PROS

I can't think of anyone asking a doctor friend to do him a favor and and give him free by-pass surgery or an accountant buddy to knock out some numbers for his tax return. Then, here's some good advice. Don't place one of the most important assets in your life with your "cousin" just because she's a licensed Realtor. Interview and hire the most qualified with a track record of success. The same goes for choosing a lawyer if you think you desire representation for a real estate closing. We have a client teetering on the precipice of losing the sale of his home because he selected a lawyer buddy to do a favor. The old saying, "You get what you pay for" is a truism if ever there was one!

The Cherry Group, The Coconut Grove Realtors, Presents New Newsletter

The Cherry Group, The Coconut Grove Realtors, presents its new Newsletter HOUSING TRENDS. Just click on the headline to get our view beyond Coconut Grove Real Estate, but to other markets throughout Florida and Nationally. Please call The Cherry Group anytime for a consultation or for a listing appointment at 305.607.8360

Things Moving Fast for The Cherry Group, The Coconut Grove Realtors

With cooperative Sellers, Buyers, Lender - and of course expert Coconut Grove Realtors - the Cherry Group just closed on 2336 Swanson Avenue in Coconut Grove 29 days after listing it. We had a contract within 12 hours of listing the property. After calling about 30 buyers from our database, BOOM - fully executed contract. From then on until closing smooth as silk. Give The Cherry Group, The Coconut Grove Realtors, a call at 305.607.8360, to hear how we can move your home in 30 days.

The Cherry Group's International Clients keeping Business Humming

Coconut Grove Realtors The Cherry Group, sees its business soar through international buyers who have spent $82 billion on new homes so far this year - up from $66 Billion. One third of that business comes to us in Florida. The top countries represented here and their percent volume are Venezuela -28%, Canada - 10%, Columbia - 6%, France - 6%, Mexico - 5% and all other countries making up 27%. Nationally, Canada is first in home purchases. A big change is China taking over Mexico as number 2. Russia, now in 10th. place is coming on strong. Foreign buyers have trimmed our condo glut, where prices are going up. Look for more action now on the single family home front. Please remember to call us for expert real estate advice for Coconut Grove and elsewhere throughout the country.

The Cherry Group, Coconut Grove's Realtors Has Game Plan

Surprise! We weren't able to cash in on the lowest mortgage rates since WWII. We knew The Cherry Group's expertise is Coconut Grove real estate and not necessarily mortgage financing, but we were surprised with our naivety. I mean how appealing is a 4% mortgage for a 30 year note? Even with our fingers on the pulse of every aspect of our business, we lost touch that our own home had suffered, as every home in Miami-Dade County had, by losing value - essentially changing our LTV (loan to value ratio). Where we once had 20% equity in our home, we now had 10%, making our LTV 90/10. Lenders require a minimum of an 80/20 to process a new loan or a refi. So, after all the paperwork and headaches with our lender, we were told they couldn't refinance unless we brought a 'very handsome' check to the refi closing table, something we're not prepared to do. Interest rates are expected to spike considerably in about 4 years or so and a our goal is to refinance before then. What's the game Plan? Take every spare nickel and plop it in your principal to get that LTV to at least 80/20. Then, and just then, maybe there's a prayer to cash in on mortgage rates that we'll probably not see again in our lifetimes.

The Cherry Group, The Coconut Grove Real Estate Experts, Offers Simple Advice

We approaching another Cherry Group Coconut Grove closing and once again we have received notice from the title company doing the closing, our listing has 4 open permits to be closed. As your Coconut Grove Real Estate Experts, here's a word to the wise: Don't pay the final check to the contractor or licensed workman who did the job until he hands you the closed permit! An open permit is not a lien and the house can close if accepted by the buyer, but we've yet to see that. The biggest headache in the world can happen should an inspector visit to close out an old permit and he finds you're not in compliance. The buyer doesn't have to close until your permit is closed and what's worse, he could wrangle out of purchasing altogether.

The Cherry Group, The Coconut Grove Real Estate Experts, Says This is Busiest August Ever

Two weeks ago, The Cherry Group, The Coconut Grove Real Estate Experts, listed a Grove home that went under contract with its own buyer in 24 hours. All contingencies have been met and we're due to close one month to the day of listing the property. Over the weekend the Cherry Group received almost $4 million in offers on three of its listings, still being negotiated. We believe local money is coming into play as interest rates for a 30 is about 4.3 percent and the median rental price has jumped to $1.82 per Square Foot. It's never made more sense to buy! Call us, The Cherry Group, at 305.607.8360 to list and to sell your home fast.

CHERRY GROUP, THE COCONUT GROVE REAL ESTATE EXPERTS #1 FOR COLDWELL BANKER

Trandgraphix data shows The Cherry Group, The Coconut Grove Real Estate Experts, continuing its market dominance at the #1 Realtor the last 6 months for Coldwell Banker in Coconut Grove. Gary Hecht points out, although gratified with the Cherry Group's position, more than a ranking should serve as criteria for Realtor selection. Ask the Realtor in a listing interview the following questions:
1. How many listings expired in the last year and went to another Realtor who sold them?
2. How many homes in the last year have you listed, where the prices were reduced more than once before selling.
3. Do you show all your listings yourself or relegate the most important function next pricing to members of your staff?
4. Do you have 3 or more references whom you've served in the last three months?
5. Why do you think your marketing is the best?

WHAT'S GOIN ON IN MEXICO?

We reported a couple of weeks ago that The Cherry Group was named by CitiGroup to be it's exclusive referral Realtor for its high equity clients (members of CitGold) from South and Central America and Mexico. Spanish is Sylvia Cherry's first language. And Gary Hecht founded Young & Rubicam's famous Spanish Ad agency, The Bravo Group. Their understanding of Spanish markets and cultural differentials are second to none. We now have a half dozen all cash buyers looking for homes/investments from $1 to $10 million. As bags of pesos are turning into US dollars from high equity clients coming here to Miami-Dade, we find it ironic that droves of illegal Mexicans are going back home. The media has reported that not only are illegals returning home because of a soft US economy, action at our unprotected borders has slowed with those attempting to enter. It seems the economy and way of life in Mexico are better than Russia and India. More jobs for labor, less expensive housing and better schools are available in Mexico than in the US. Who would have thought a tanked economy here would become a partial solution to our illegal immigration problem.

Worst Bank in America - BANK OF AMERICA- Proposes Loan Forgiveness Deal

The Cherry Group, Coconut Grove's Real Estate Experts, just read on a real estate site GLOZAL.COM, that BOA is talking to both state and fed officials about cutting a deal to release them in a huge class-action if it reduces the amounts owed by troubled borrowers who got the run-around from them when shooting for loan modifications. BOA made our life hell for a year after repeatedly losing paperwork sent twice by FedEx and twice emailed. At the end of the day, they awarded a modification, only to withdraw it two weeks later, saying the underwriter didn't approve it. My own daughter, countless friends and clients have shared similar stories. The principal owed would have to be $1 million, or less in some geographic areas, and a reduction would apply to the bank's own mortgages and those it services for private investors. BOA is seeking in return indemnity from future claims. In The Cherry Group's Real Estate practice, I do everything possible to advise clients not to go near BOA.

CASE HISTORY: HOW THE CHERRY GROUP SELLS A HOME IN JUST 24 HOURS

About three months ago, a home owner called us for a listing appointment. The Coconut Grove Real Estate Experts, The Cherry Group, presented its comparative market analysis (CMA) and suggested an asking price. Our price opinion was well below the owner's perception of value and she said she'd try to sell it herself. This is a wonderful place at 2336 Swanson Avenue in one of the most sought-after neighborhoods in North Coconut Grove. Over 2,400 sq. ft. a 9,600 sq. ft. lot, the home has a new pool, new electrical, new hurricane glass windows and on and on. The owners priced it $589,500. Having received only one offer at $530,000 and tiring of dealing with the general public and Realtors, they called the Cherry Group back to get the job done. Most For-Sale-By-Owners only last about 30 days before learning what a big job a Realtor has and lists the home with a professional. We presented a new CMA , demonstrating the home's market value at $537,500.00. The owner said, I should have taken the $530,000 offer and we agreed as no Brokerage fees would have been involved. But without a Real Estate advisor, they just didn't know. The Cherry Group listed the home for $540,000. As the leading Realtors for Coconut Grove, we had accumulated a vast list of potential buyers and their needs. We returned to the office and began calling every buyer whose criteria would be satisfied by this property. The day following listing the property we had a line-up of showings. The very first made an offer on the spot and later in the day there was a fully executed agreement between Seller and Buyer. The moral of this story is two-tiered: Hire a Realtor. You'll ultimately make more money than trying to do a professional's job your self; secondly, price your home at today's marketed value to sell it fast. If you want the results The Cherry Group provides, please call the Coconut Grove Expert Realtors at 305.607.8360.

The Cherry Group, Coconut Grove's Real Estate Experts, Answers Common Tax Question for Short Sellers.

The Cherry Group, Coconut Grove's Real Estate Experts answers a common question about income tax liability when selling your home for less than its mortgage (short Sale). You'll need specific advice from your other professionals - your lawyer and accountant. Just click on the headline to get answers.

Short Sale Safety Valve Closing Fast Says The Cherry Group, Coconut Grove's Real Estate Experts

The Cherry Group, Coconut Grove's Real Estate Experts, thinks we'll see less single family foreclosures and short sales as condos have moved from a buyer's to a seller's market. With approximately 2 months of condo inventory available in Miami, walking away from your home and living the "carefree" life in a 'cheap' rental is no longer an option. Rental prices for condos and single family homes are going up,up,up. Also as a consequence of 'sold-out' condos, we see a continued increase in single home sales. June sales were up almost 6 percent over May and we see this as a signal of what's to come. Call the Coconut Grove's Real Estate Experts at 305.607.8360 - The Cherry Group

THE CHERRY GROUP, COCONUT GROVE REAL ESTATE EXPERTS, HAS RECORD LISTING MONTH TO DATE

The Coconut Grove Real Estate Experts, The Cherry Group, is enjoying a record month for luxury listings to date with about $7 million in listings going to market. Sylvia Cherry said more is expected before the month's close.

Banks Aren't Banks Anymore

The Cherry Group, Coconut Grove's Expert Realtors, wonders when banks will start lending money again for mortgages. Now bankers are sitting back trading government bonds for a paltry 3 percent return, rather than incurring any risk and earning more on lending. The industry is a mess.

The Cherry Group, Coconut Grove's Expert Realtors Lists Third Major Grove Estate in Four Days

The Cherry Group, Coconut Grove's Real Estate Experts, has listed its third Great Grove home in just four days. Located on half acre on private Leafy Way, this palatial 5/5/1 has the finest finishes and priceless antique fixtures throughout from Europe. It's being offered for $3,200,000.

SYLVIA CHERRY OF THE CHERRY GROUP EARNS ANOTHER CERTIFICATION

Sylvia Cherry of The Cherry Group, Coconut Grove's Expert Realtors, earned another professional designation as a CERTIFIED REAL ESTATE STAGING EXPERT. The Cherry Group knows the smallest detail can be the driving force to generate an offer and staging a home for photography and for sale is at the top of the list for things to do. Other professional certifications The Cherry Group has earned include: Certified Residential Specialist, Founding Members of the Institute for Luxury Home Marketing, Accredited Buyers Representative, Member Master Brokers Forum, Certified Negotiations Specialist and the most important to us after 20 years serving our friends and neighbors in Coconut Grove, your Coconut Grove Real Estate Experts. Give The Cherry Group a call and we will be happy to visit to discuss listing your house and maybe even move some of your furniture around.

THE CHERRY GROUP, COCONUT GROVE'S EXPERT REALTORS, ANNOUNCES SECOND LUXURY HOME LISTING IN TWO DAYS

The Cherry Group, Coconut Grove's Expert Realtors, announces its second luxury listing in just two days. Located at 3525 E. Fairview, this beauty was built in 2002 by one of S. Florida's Pioneer builders for himself and who spared no expense and attention to every detail. With an elevator and a kitchen/den with a fireplace completed in 2010, the home is a stone's throw from the Fresh Market and the Village. The Cherry Group has the 4,768 Sq. Ft. home listed for $1,790,000. Please call The Coconut Grove Experts at 305.607.8360 for more details or to visit.

The Cherry Group, The Coconut Grove Expert Realtors, Lists Another One!

The Cherry Group, Coconut Grove's Expert Realtors, is proud to announce its new listing at 3512 Bayshore Villas Drive, just off historic S. Bayshore Drive, near the water. This is over 5,000 square feet of oure European elegance. The asking price is $1.85 million. To see the home in its entirety, please visit its web site at http://www.bayshorevillasdrive.com/ or contact Gary Hecht of The Chyerry Group in Coconut Grove at 305.607.8360.

THE CHERRY GROUP SAYS WE'VE BOTTOMED OUT

In it's bi-monthly newsletter, The Cherry Group reported only a .5% drop in Real Estate prices year to date in its marketing area. The Coconut Grove Expert Realtors also cited an average of 137 days on the market for listed homes and an average selling price -13.4% down off the asking price. Market activity is brisk and we think it's time to list. Buyers have to know it's also the time to buy. The pendulum is beginning to swing. Also, money will be getting tighter as banks reduce the limit on jumbo loans underwritten by the government.

NO RAIN DELAY FOR THE CHERRY GROUP

Rain or shine, the Coconut Grove Real Estate Experts keep rolling. Sylvia has 5 showings today and I have two listing appointments. It's always a great day to be alive in Coconut Grove.

CITIBANK IN MIAMI NAMES CHERRY GROUP

Citibank's Wealth Management Division (Citigold) has named The Cherry Group, Coconut Grove's Expert Realtors, to serve its world-wide high equity clients for residential real estate purchases throughout Miami-Dade County. The relationship positions The Cherry Group to provide its luxury listings and those co-brokered by other Realtors a stream of ready, willing and able buyers. Please call at 305.607.8360 to market and sell your home fast to an all-cash buyer.

The Cherry Group, Coconut Grove's Real Estate Experts Has Fabulous $1.85 Million New Listing in Coconut Grove

The Coconut Grove Real Estate Experts, The Cherry Group, just scored a a fabulous new listing in Coconut Grove for $1.85 million. Watch for details next week after the professional photography is completed and posted next week. We don't don't begin to market before The Cherry Group makes the dollar investment necessary to sell your home and makes us the leading Coconut Grove Realtors for Coldwell Banker's Grove Office.

THE CHERRY GROUP WISHES YOU A HAPPY 4TH.

Your Coconut Grove Real Estate Experts, The Cherry Group, wishes you a HAPPY 4TH OF JULY. After everything is said and done, WHAT A GREAT COUNTRY. GOD BLESS AMERICA! We signed listing papers for a marvelous $1.85 million estate in Coconut Grove last night and have decided to relax through the weekend. Call the Cherry Group at 305.607.8360. Our clients will tell you about us. Just ask us for references. Have a great holiday.

CORRECTION: INCORRECTLY STATED MRS. LESTER PANCOAST IS DECEASED

The Cherry Group, Coconut Grove's Real Estate Experts, reported in this Blog about a month ago, Helene Pancoast, widow of recently deceased Lester Pancoast had passed on. Mrs. Pancoast is in good health and very much alive and we apologize for the error. This Blog reported on 3611 Poinciana Avenue, a residence designed by iconic Coconut Grove Architect Lester Pancoast. The Cherry Group had the property under contract at the time and reported on this splendid home. It's still for sale by the Estate of Martha Grafton, deceased sister of Lester Pancoast who owned and resided in the home. Our apologies to the Pancoast family for our mistake.

BUSY WEEKEND FOR THE COCONUT GROVE EXPERT REALTORS

The cherry Group, The Coconut Grove Real Estate Experts, has the weekend booked showing its own and co-broker listings. Momentum increasing in market and now is the time to list. For us, English and French buyers flooding in. You can reach The Cherry Group in Coconut Grove all the time at 305.607.8360.

The Cherry Group, The Coconut Grove Real Estate Experts, Lists Another One

The Cherry Group, Coconut Grove's Expert Realtors, proudly presents another great Coconut Grove home for sale. Sitting on more than 14,000 square feet at 1935 Secoffee Street, this walled and gated mid-century 3/2 pool home sports a very large screened porch (shown) overlooking the pool. Plus it has a detached 2-car garage that would be perfect for a second story guest house. Great buy and priced to sell at $779,000 at one of the best locations in Coconut Grove. Multi-million dollar neighborhood.

THE CHERRY GROUP REMEMBERS WHEN

For some 20 years, The Cherry Group, the Coconut Grove Real Estate Experts, remembers another time......when a real estate transaction was celebratory....when the seller and buyer came together at a closing table, exchanged best wishes and even phone numbers. We Realtors would bring nice closing gifts for our clients and maybe champagne too. Now the transaction is often contentious where the seller has hard feelings towards the buyer because he feels he sold too low and maybe had to give up more for the inspection mitigation. Sometimes, they never meet. One has no idea about the other and each seeks to close separately. Real Estate today is impersonal; it's just all about paper and that's too bad. The buyer knows nothing about the wondeful family who shared so much in the house they're buying. The Seller has virtually no idea about the family moving in, their similarities and appreciation for what they've purchased. The Cherry Group in Coconut Grove strives to foster the idea among all parties that real estate is all about people and their relationships.

THE CHERRY GROUP, COCONUT GROVE REAL ESTATE EXPERTS, HAS ANOTHER RECORD SALE

The Cherry Group, Coconut Grove Real Estate Experts, closed on 2000 S. Bayshore Drive, #32 (L'Hermitage) on Friday at the highest sale's price in the last 6 years for any Villa in the development. Selling for $1,650,000 or $360 per square foot and coming with the exclusive use of a 35 foot dock, the Villa provided 180 degree open views of of Biscayne Bay. Please call The Cherry Group, The Coconut Grove Real Estate Experts at 305.607.8360 for a listing appointment to begin the process of selling your home for a record price too.

THE CHERRY GROUP, COCONUT GROVE EXPERT REALTORS REPORTS NEW LISTINGS FOR THE WEEK

The Cherry Group, Coconut Grove Expert Realtors reports 7 single family homes and 3 condos went on the market last week at an average listing price of $989,934,000. There were 11 price reductions. For more information call the Coconut Grove's Expert Realtors at 305.607.8360 - The Cherry Group.

CHERRY GROUP, COCONUT GROVE'S EXPERT REALTORS, SAYS LUXURY HOME SECTOR MOVING FASTER

Homes over a million are on the market for 118 days on average when reflecting today's market values. When a home languishes on the market, pressure grows for price reductions. The Cherry Group, Coconut Grove's Real Estate Experts, has always seen homes sell for less after repeated price reductions than if they had been priced correctly from the start. Please contact the Cherry Group in Coconut Grove for a pricing consultation at 305.607.8360.

HOME EQUITY IN THE BASEMENT

Coconut Grove real estate experts, The Cherry Group, reports home equity has fallen from 61 percent at the start of 2001 to 38 percent at the end of this year's first quarter. Home prices are at their lowest level since 2002. Generally speaking, we cannot list our homes for more than we paid in 2006 or later. Call the Coconut Grove real estate experts for an honest count. We will tell you the truth. That's The Cherry Group at 305.607.8360

THE CHERRY GROUP, EXPERT COCONUT GROVE REALTORS ,SAYS LIST NOW IF YOU'RE IN IN MID $500K RANGE

The Cherry Group, Coconut Grove's Expert Realtors, sees a huge pricing hole in the Grove's housing inventory, where the average asking price for homes here is $978,517,000.. We don't see homes of value from $500-$700 thousand. Matter-of -fact, that's why they're still on the market. We just received a report from Trulia.com, a web site that's growing in favor for consumer computer, home searches. Through that web site in the last month, 17,800 buyers were looking for homes in Coconut Grove. The average price point they were looking for was $537,000. The homes we reviewed - some listed within the last few days - are in the mid to high $600K range and are frankly priced as much as $100,000 too much. If you have a home with a market value in the mid $500k range and list it accordingly, it should fly off the shelf.

THE CHERRY GROUP WONDERS WHAT'S UP WITH COCONUT GROVE RETAIL

A New York investor contacted The Cherry Group, the Coconut Grove Real Estate Experts, to search for investment opportunities in the village proper. To our surprise we discovered a significant portion of our village is on the "block". Here they are: The old Senor Frogs location asking $1,850,000; 3480 and 3486 Main for $3,500,000; Johnny Rockets location for $9,500,000 and a package of two properties -1.44 acres at 3444 on Main Highway to the south, Grand Avenue to the north, Fuller Street to the east and Commodore Plaza to the West. This is the building where The knife was located, retail below and the shopping Plaza next door. Asking price is $12,180,000. In reality, the properties are at the center of Grove commerce, but don't throw off the kind of income investors with short term goals seek out. I sure would like to own them for the long haul though. The question is, why is so much commercial in our village for sale? The last thing we need as Coconut Grove homeowners is to have a village that less than thrives. A vital business district bolsters our home values.

THE CHERRY GROUP SAYS REAL ESTATE FORMULA HAS CHANGED

Coconut Grove's Expert Realtors, The Cherry Group, attended a speech this morning at the Real Estate Board, given by Coldwell Banker's Regional Senior VP, Michael Murray. He corroborated what The Cherry Group and other leading Realtors have known for a few years; LOCATION, LOCATION, LOCATION has been supplanted by PRICE, PRICE, PRICE. The number#1 factor driving buyers to the closing table is price. There are 10,000 homes listed in Miami-Dade County and many have been sitting there for years because none of us can really come to grips with 10 years of lost equity in our homes. On the other hand, we can either get out with clean credit and small gains or for some, let the house slip into foreclosure and sold short. People who have owned for 10 years or more will still pull money out.

COCONUT GROVE MARKET INVENTORY DOWN - NOW IS TIME TO LIST

The Cherry Group, Coconut Grove's Expert Realtors, recommends listing now while home inventory is down over 20 percent over last year and interest rates are under 4.5% for a 30 year mortgage. In Coconut Grove, the week ending May 21, 12 homes were listed with an average listing price of $993,944 and the week ending May 28, 11 homes came on the market - average listing price $978,517. We see fewer price adjustments as sellers are listening to their Realtors and pricing right to sell within 90 days. Last week, there were only 6 price reductions, compared to 33 the same time last year. The Cherry Group will be happy to visit to share a pricing analysis of your home. In Coconut Grove, where we're so lucky to live and to work, please call us at 305.607.8360.

NIGHTMARE-SELLING LEASED PROPERTY

A frequent nightmare for Realtors in selling leased property is gaining access to the property to show it. Often uncooperative tenants kill the deal by not allowing Realtors to show the home. Many of our neighbors in Coconut Grove own single family rental properties and have asked our advice when faced with this dilemma. Chapter 83.51, Florida Statutes (Landlord-Tenant) says that tenants shall not unreasonably withhold consent to the landlord to exhibiting the property to prospective buyers. If they are, the tenants must remedy their non-compliance within 7 days or the landlord may beginning moving toward an eviction. The Cherry Group, Coconut Grove's expert Realtors, recently had a listing where the tenant didn't allow access for a month because they were out of town. In that period, we were forced to decline about 19 showings to prospective buyers. If you're a Landlord, you have certain rights. Don't be held hostage by your tenants!

COCONUT GROVE REAL ESTATE PRICES HOLDING UP

The Cherry Group, Coconut Grove's real estate experts, reviewed sales activity for May. Despite reports in the Miami Herald about price erosion, Coconut Grove real estate prices have held up over the last three months. Single family homes selling for between $700,000 and $1,200,000 sold for $286.00 per square foot. Nine homes went under contract, but the final sales prices won't be known until closing. Coconut Grove single family homes selling for over $1,200,000 number four and sold for an average of $287.00 per square foot. Four homes went pending. We're all so fortunate to live in Coconut Grove - one of the most desirable real estate addresses in the world. Please call Sylvia Cherry or Gary Hecht of The Cherry Group at 305.607.8360, if you'd like expert real estate pricing advice.

COCONUT GROVE'S THE CHERRY GROUP HAS SOME FINANCIAL ADVICE WHEN BUYING A HOME

If you are purchasing real estate, don't do anything to impose on your credit score before your lender issues a loan approval letter to you. Better yet, don't extend your credit until you own the home. Often the Bank or Mortgage Broker issues a Pre-Qualifying letter to you, indicating that based on very preliminary information you could get the loan. The letter means little to you and virtually nothing to the seller and seller's Realtor. The Cherry Group, as the Coconut Grove real estate experts, counsels its buyers thoroughy on good financial behavior during the often tenous contract period. Even if funds have been escrowed for the second deposit, lenders do repeated credit checking right up until the loan is approved and sometimes after. That means one shouldn't lease a car or buy furniture on credit, as an examples, where one's credit would be pulled and scores lowered. Also, most lenders require 6 months cash reserves to cover mortgage, taxes and insurance. Banks often check the day before closing to be assured the money is there.

THE CHERRY GROUP IN COCONUT GROVE LOOKING FOR INVESTMENT PROPERTY

The Cherry Group, Coconut Grove's real estate experts, represents an investor with $2 million in cash to invest in multi-family or other commercial properties. Please call Sylvia Cherry or Gary Hecht in Coconut Grove at 305.607.8360 if this of interest.

THE CHERRY GROUP ON THE GROVE: THE CHERRY GROUP SHARES A RARE FIND IN OUR LOVELY COCONUT GROVE

THE CHERRY GROUP ON THE GROVE: THE CHERRY GROUP SHARES A RARE FIND IN OUR LOVELY COCONUT GROVE

THE CHERRY GROUP SHARES A RARE FIND IN OUR LOVELY COCONUT GROVE

Sylvia Cherry and I love what we do as expert Realtors for Coconut Grove. The "stuff" that makes Coconut Grove the "Grove" jumps out at us in the course of our business and it makes our hearts sing. We have a pending contract on the family home on Poinciana in Coconut Grove of iconic architect Lester Collins Pancoast. His GREAT grandfather Collins was an early developer on the Beach (Collins as in Collins Avenue) and his wife Helene was the grand-daughter of David Fairchild. Pancoast focussed on integrating the outside with the inside and gained fame as a landscape architect. The family home pictured is a Japanese influenced house with thickly planted, but never crowded gardens. This view is through the livingroom to the reflecting pool, patio and gardens. He passed away in 2003 and his widow Helene recently.

THE CHERRY GROUP WELCOMES BUYERS TOO

The Cherry Group is thought of expert listing realtors in Coconut Grove. But we enjoy working with buyers too and have a strong track record in that representation. Often buyers think they can "cut" a better deal by going directly to the listing agent representing the home because they suspect the listing broker has room to reduce his 6 percent commission which would be reflected in a lower selling price. This is usually not true. First, the Cherry Group doesn't allow its income to become a part of the negotiations. We have worked long and hard to have beome the Coconut Grove expert realtors and don't allow our salary to become a bargining chip. Most top producing realtors share our philosophy. You really don't want to work with a professional who thinks so little of his ability to "cut" his fees. Secondly, having your own Realtor means you'll get expert advice on the offering price and hopefully a skilled negotiator. Among their many professional designations, Sylvia Cherry and Gary Hecht are Certified Negotiations Specialists and Gary holds the Accredited Buyers Representative certificate. This simply means you have a powerhouse team in The Cherry Group, the Coconut Grove Real Estate Experts, to get you the best deal possible. If you're planning on buying, call us at 305.607.8360.

FOR COCONUT GROVE HOMES AND OTHERS THE "BUBBLE" STILL LURKS

In the Cherry Group's never-ending quest to stay on top of the Coconut Grove real estate market in particular, the immediate future for home sales might not be as bright as some pundits profess. Although 2011 first quarter sales show a staggering increase by 38 percent in Miami, home values continue to drop, now down 55% since the height of the market in 2006. So, while more homes are being sold, they're being sold for less while still under pressure from foreclosure which represent about 60% of all homes sold. In an on-line newsletter, Capital Notes, published by Bentwood Capital Partners (residential and commercial lenders), it was reported their expectations among other expert opinions, are that prices will fall another 14 percent through the end of this year before bottoming out. The Cherry Group's expert advice is to sell now and buy now! For buyer's, don't play Russian roulette with forecasts and wait it out. Another 10% savings or so on a purchase price means little against a 30 year year fixed mortgage at these interest rates. And who knows where they'll be going with the onset of an inflationary spiral. Contact Sylvia Cherry or Gary Hecht at The Cherry Group, your Coconut Grove Experts for more information at 305.607.8360

THE CHERRY GROUP LISTS A TROPICAL PARADISE IN NORTH COCONUT GROVE

The Cherry Group, Coconut Grove Expert Realtors, listed a classic bungalow at 1875 Wakeena. Sitting on a 9,090 square foot lot with incredible koi ponds and water falls, there's even a separate studio for the artist in you on the property. It's a 3/2 with beamed ceilings, wooden floors, new roof, new kitchen and all updated plumbing and electrical. Photography is planned and you'll soon see it on its own website. As real estate experts, The Cherry Group treats every listing as though it were a multi-million dollar mansion, investing heavily in marketing and sales promotion materials. Every home in our inventory is very important to us. To list your home with the Cherry Group, please call Sylvia Cherry at 305.992.2211 or Gary Hecht at 305.607.8360.

ASKING PRICE FOR THIS GEM IS $489,000

THE CHERRY GROUP AS REAL ESTATE EXPERTS THINKS OUTSIDE THE BOX

Here in Coconut Grove yesterday, The Cherry Group had its listing go pending at 2000 S. Bayshore Drive, #32 - better know as L'Hermitage. Expert Realtors have to "think outside the box" to get homes sold, especially now. Instead of listing the home under the category of condos and villas where it would completely get lost, Sylvia Cherry came up with idea to list it as a single family home. Our listing is the developer's unit and is considered the only detached home at L'Hermitage with sweeping 180 degree open Bay views, connecting only to another villa's carport wall. By listing the home this way, it competed against other waterfront homes with docks and emerged as a smashing good buy. Other Realtors, especially those who live at L'Hermitage and also have listings there criticized the Cherry Group for not knowing what they were doing. One or more even called the owners and told them that Gary Hecht and Sylvia Cherry, The Coconut Grove Experts, didn't list their home correctly. We explained our strategy to our clients and they fully understood. They expect to close in June with an all-cash offer. All of The Cherry Group's listings have their own web sites. If you'd like to see more of this fabulous waterfront home, visit http://www.2000sbayshoredrive.com/. And if you're looking for Coconut Grove expert Realtors who think outside the box, please call Sylvia Cherry at 305.992.2211.

THE CHERRY GROUP'S EXPERT INFORMATION ON BUYER'S CLOSING COSTS

The Cherry Group is always gratified when friends in Coconut Grove call or ask for information, even when Sylvia Cherry or I aren't involved in the transaction. We are the Coconut Grove experts because after 20 years in the business, The Cherry Group usually has the answers. I was having lunch at Greenstreets the other day and someone asked, 'Aren't you Gary Hecht'? I said sure and asked him to join me. He told me he bought a condo at Yacht Harbor in Coconut Grove directly from an unrepresented condo owner and had a many questions, one of which was, "As a buyer what are my closing costs"? For him and for all of you, here they are:

1. Prepaid condo or home owner's association maintenance fees.

2 One year's homeowner's insurance often held in escrow by the lender.

3. Windstorm and or flood insurance most often held in escrow by the lender.

4. Home Inspection costs depending on size of home from $350.00 to $1,000.00.

5. Owner's Title Insurance issued by the Title Company. The insurance is a fixed price set by

the State based on purchase price. A million dollar home is about $2,500.00.

6. Recording fees for the deed; about $8.00 per page.

Please don't hesitate to call me, Gary Hecht, at 305.607.8360 or opposite this column, click onto our web site at CHERRYMIAMIHOMES.COM. We always happy to help.

THE CHERRY GROUP IN THE GROVE WISHES MOMS A HAPPY MOTHERS DAY

Sometimes The Cherry Group sells houses in Coconut Grove, but most often we sell homes. A house becomes a home through the family who resides in it. And it doesn't take an expert to tell you the centerpiece of the home is mom. So to our dear Coconut Grove clients and to mothers everywhere, The Cherry Group wishes A HAPPY MOTHER'S DAY TO ALL.

THE CHERRY GROUP'S EXPERT INFORMATION ON CLOSING COSTS FOR SELLERS

The Cherry Group is often asked as your Coconut Grove real estate experts what are the common closing costs customarily incurred by the seller. Here they are:
1. State Sales Tax called Doc stamps at 69 cents per $100.00 of the sales price.
2. Pro-rated taxes from January 1 to the date of closing.
3. Satisfaction of liens, special assessments and mortgages.
4. Real Estate commission, usually 6 percent of the sale.
5. Recording fees to clear title, sat. of mortgage, etc. at approximately $7.00 per page.
6. Title Company's fee for preparing your closing documents for about $350.00
Some Coconut Grove sellers offer special incentives to the Selling Realtor as well of an extra point or so. This helps keep the property top-of-mind with co-brokers who are key to getting your home sold.
HAVE A GREAT DAY IN COCONUT GROVE-THE BEST PLACE IN THE WORLD TO LIVE!

COCONUT GROVE REAL ESTATE TODAY

A slow real estate day day in Coconut Grove today. No closings, nothing pending and a couple price adjustments (that should have been done six months ago). The Cherry Group's expert advice is to list now. Don't wait. The choices in Coconut Grove are limited at all price points. We're not impressed with the homes or their prices. The Cherry Group in Coconut Grove are listing agents, supreme marketing specialist and quick closers. Please click on to CHERRYMIAMIHOMES.COM to learn more about us. We don't drive buyers around and don't waste our time with rentals because that would take away from selling your home. And, selling your home is paramount. Ask The Cherry Group for references from the last two weeks and you'll get the responses that support our claim that "WE MAKE PROMISES WE KEEP".

ASK REALTORS FOR REFERENCES

Anyone can purport to be something he or she's not. The Cherry Group positions itself as Coconut Grove Experts and takes pride in our exceptional service. Nothing pleases us more than when an astute potential listing client asks for references. We provide Coconut Grove references where we had a transaction within the last two months. Here's the contents of a wonderful email we just received:

All we can say is WOW!!
Great Job you guys.
We're fortunate and glad to have you represent us.
Thank you for your efforts.
Maryann & Arthur

Have a Great Day in Coconut Grove!

COCONUT GROVE REAL ESTATE ACTION LAST TWO DAYS

In the last two days in Coconut Grove, one home went under contract and The Cherry Group closed a home. The Pending sale was 4001 Park Avenue, asking price $849,000. Sylvia Cherry and I closed 2045 Tigertail Avenue for $1,025,000. The asking price was $1,150,000. Currently in Coconut Grove, there are 63 homes on the market priced between $800,000 and $1.5 million. As leading Realtors here, Sylvia and I know each one intimately, having sold some in our 20 years. In my opinion, many are still over-priced and unremarkable. It's a wonderful time to list with us at market price and get your home sold within the average 90 days. Please call Gary Hecht in Coconut Grove at 305.607.8360

DAYS ON MARKET GO TO LISTING PRICE

For over 20 years, The Cherry Group has been Top Producers and THE Coconut Grove Experts. Sylvia and I are home owners on Emathla street and have felt the bite just as you; we lost about 35 percent of our home value too. But in Coconut Grove, we're coming out of this better than the Gables, Pinecrest and other communities in Dade that are down over 50 percent in values. The Cherry Group Newsletter has been mailed and one thing becomes perfectly clear in our data. Price your home based on our marketing analysis, and we'll sell it in about 90 to 120 days days. We're the leaders in Coconut Grove and want your business. Call us at 305.992.2211 today and learn the TRUE value of your home.

WHAT'S UP WITH FSBOs IN COCONUT GROVE

Ever-more a rarity, I still see homeowners trying the FSBO (for sale by owner) route in Coconut Grove, as these few who dare to go it alone believe to become leading Coconut Grove experts is solely a function of putting up a "FOR SALE" sign. Sylvia Cherry and I spend thousands on each listing in Internet marketing costs and for sales promotional materials. About 85 percent of those who want to sell hire experts like The Cherry Group and some 17 percent try representing themselves, but usually last 30 days before they realize what a fruitless endeavor it really is. Almost always, we negotiate more for a property and the homeowner nets more (even after commissions) than the FSBO. I don't understand why one wouldn't attempt his own dentistry, appendectomy or court representation, yet believes he can perform a function requiring a license and years of experience.

HOUSING WANTS AND NEEDS CHANGING IN COCONUT GROVE

Made my Saturday visit to our Coconut Grove Coldwell Banker Real Estate office this morning to clear paperwork and while there talked with buyers who walked in to share their housing needs and to see what was on the market. This early to mid thirties couple reflected, in my mind, buyer preferences for now and the foreseeable future. They wanted about a 2,500 square foot home with 4 bedrooms and 3.5 baths. They wanted an open living/dining ,entertaining space and didn't have much use for the traditional living room. A large walk-in closet was key in the Master with a good Master bath. In a two story home they wanted the Master on the first floor. A two-car garage ranked high on their list as well. They were green-minded and talked of water efficiency and solar panels. Finally, they weren't drawn to a lot of land. You can bet though, we won't be for a loss of buyers in our charming Coconut Grove. We have two unmatchable elements; we're a waterfront community and we have those lush, beautiful trees that support our namesake, "The Grove". Coconut Grove is known world-wide and we'll always be one of the most desirable places on earth to live.

COCONUT GROVE EXPERTS,THE CHERRY GROUP, NEEDS HOMES TO SELL

Coconut Grove luxury real estate experts, The Cherry Group, has 6 homes under contract, one of which we're proud to say is closing at this writing at 2025 Tigertail for $1,025,000. Thanks to one of the most successful four months we've had, our listingbook needs new homes to sell. Coconut Grove is very ready for quality, priced-right homes for sale and so is The Cherry Group. If you you want the real Coconut Grove experts to sell your home, especially where others haven't, please give Sylvia Cherry a call at 305.992.2211 for a presentation on how we will sell your home.

REALTOR GARY HECHT GOES TO HISTORIC AND ENVIRONMENTAL PRESERVATION BOARD

Coconut Grove Real Estate Expert Gary Hecht was appointed by The Miami City Commission to the Historic and Environmental Preservation Board. "I've been a Coconut Grove activist for most of the 20 years I've lived here", Hecht said, "But this is a Board I've always wanted to be a part of. Many of the issues that come before us are regarding Coconut Grove, because the Grove was founded even before Miami was chartered and its Bahamian roots run deep." Hecht also served on the Coconut Grove Village Council for four years, serving as its Chairman for one of those years. He said he believes being a leader in any industry should include contributions of time in service to the community. "There's a direct relationship between civic values and home values. Doing good works for the community feels good and its good for the market too."

COCONUT GROVE INVENTORY "SO-SO"

Just returned from my weekly rounds to inspect the Coconut Grove inventory of homes. Those I visited are either cool, very buyer specific and will be tough "sells" at any price while others are just nothing to write home about. When I moved to Coconut Grove over 20 years ago, buyers clamored for the castle-like 1920 DeGarmos, which I happen to love and also love to sell. But today, unless they have at least 2001 code upgrades like hurricane windows and roofing upgrades, they're tough to sell. There's not much breath in styles and values at mid to high price points in the Grove......just not much to pick from for many buyers. This is a perfect time to list if you have property in Coconut Grove. If it's nice and priced right, it'll stand out.

COCONUT GROVE THE MOST DESIRABLE PLACE IN THE WORLD

Buyers are still paying premiums to live in Coconut Grove, one of the most desirable places on earth. A small village on Biscayne Bay, Coconut Grove waterfront property prices now rival waterfront on Miami Beach. Just last week, Dutch movie director Van dee Vlugt sold his 11,000 sq. ft Coconut Grove waterfront home on Curtis Lane for $13,419,495.00. On two acres with 300 ft. of water frontage, this sale is good for sellers, driving Grove comps higher.

Q&A: WHAT'S NEW IN MORTGAGE RATES?

RATES ARE UP-NATIONAL AVG:

30-yr. conventional 5.16%

15-yr conventional 4.43%

30-yr FHA 5.05%

5-yr ARM 4.05%

INDUSTRY EXPERTS AND ANALYSTS-"WILL RATES RISE OR REMAIN RELATIVELY UNCHANGED THIS WEEK?"

14% FALL

22% INCREASE

64% UNCHANGED

PACE PICKING UP

Sensing we've bottomed out, sellers are taking realistic steps to get their homes sold through competitive pricing. Homes are selling within 95 percent of asking prices and faster too. On average, smartly priced homes are selling in 95 days.

2010 TOP SINGLE FAMILY HOMES SALES

HERE ARE THE TOP 25 SINGLE FAMILY SALES IN COCONUT GROVE FOR 2010.
12 were waterfront homes
Price range was from $1,475,000 to $14,750,000 with Lebron James in North Grove as #3 at 9 million.
the highest $/sq ft was $1,143.00, the average $477.00, the low $225.00
there are 254 properties in all price ranges on the market now in 33133
there were 197 sold total in 2010
Coconut Grove Real Estate is HEALTHY compared to other zip codes. Using the above data there is a 15 month supply of homes and that number has been dropping steadily.
Where else in the country can one live in a lush Bayside community, minutes to a major world-class city?!
Click link below to see photos and details.
If you're thinking of selling the winter months are the perfect time.
Call or email me personally anytime 305.992.2211
RE1 Multi-Row

THE CHERRY GROUP- GROVE'S TOP PRODUCERS FOR 4 YEARS IN A ROW.

Thank you to all our valued clients for making us the Top Producing Realtor in the Grove for Coldwell Banker for the fourth consecutive year. For 20 years we've enjoyed the best life offers, loving our home on Emathla Street in the north Grove and making such wonderful, lasting friendships. We see things only going up from here, as the market stabilizes with buyers out there in good numbers. Please call us if you need real estate help, The Coconut Grove Experts.

HAPPY NEW YEAR!