Wednesday, June 29, 2011

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.

Tuesday, June 28, 2011

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.

Saturday, June 25, 2011

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.

Thursday, June 23, 2011

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.

Tuesday, June 21, 2011

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.

Monday, June 20, 2011

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.

Thursday, June 16, 2011

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.

Wednesday, June 15, 2011

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.

Friday, June 10, 2011

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

Wednesday, June 8, 2011

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.

Tuesday, June 7, 2011

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.

Monday, June 6, 2011

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.

Thursday, June 2, 2011

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.