HOUSING WARS-THE NORTH vs THE SOUTH GROVE

The Cherry Group, The Coconut Grove Realtors, studied the data and 2011 was quite a year in Coconut Grove. Our inventory of homes for sale dwindled down to 5 months, propelling an average up-tick in home values by about 5 percent. Compared to 2010 in the North Grove, we had a 20 percent increase in numbers of properties sold and a 38 percent increase in dollar volume to $45,300,000. In the South Grove, property sales increased by 29 percent, with a 30 percent increase in total sales volume to about $81,500,000. The Cherry Group's buyers literally can't find a home to buy here and we're writing contracts for homes $1,000,000 and up on the Beach and in the Gables. If ever there was a time in the last in 5 or 6 years to list, it's right now. The Cherry Group recently sold a home in Cocoplum in just 10 days and we've learned from colleagues, they're enjoying similar fast action activity.

Last Week in the Grove From The Cherry Group, The Coconut Grove Realtors e coconut Grove Realtors

Only one property closed last week in the Grove and that was a tear-down on Emathla for $607,900,000. On a prime 20,000 square foot lot, the sale confirms a price per square foot of about $30.00 for land. Only 3 home went under contract on Kent Court ($749k), Linden LN ($475k) and Frow Avenue ($259K). The inventory in the Grove is almost non-existant and buyers are looking elsewhere. As an example, the Gables had 14 closed sales and 24 homes going under contract. Inventory is down by 50 percent over last year. Please Call The Cherry Group at 305.607.8360, The Coconut Grove Realtors, to discuss listing your home. I'm telling you, it'll fly off the shelves.

Our Homes on Homeland Security Radar

The Cherry Group, The Coconut Grove Realtors, learned a surprising fact today at the $2.4 million home we sold in just 10 days in Cocoplum. We were chatting with the surveyor who told us that since 2009 all housing surveys must be submitted to Homeland Security, to include GPS coordinates. Virtually every home that's purchased requires a new survey unless the current survey can be re-certified, which is rare. So our homes' footprints, elevations and specific GPS locations are on the Federal record. I'm for anything that makes for a safer United states, but just thought you might be interested.

The 5 Unasked Questions at the Listing Interview

We're surprised that home sellers neglect to ask us the important questions at the listing interview. Here are the questions we rarely, if ever, are asked and most often offer-up the answers to these unasked questions:
1. Are you an expert for my area? The Cherry Group is the Coconut Grove Expert. Why would anyone hire a Realtor who doesn't have experience in the area?
2. What is the average sale price of homes you sell? Agents can tout the volume of homes sold, but what's important is their average selling price. The Cherry Group has specialized in luxury homes (thoses selling over $1 million) for 20 years. The marketing and the money we invest to get your home sold differs widely from selling a $500,000 home.
3. Will you show our home yourself because that's why we might hire you? Most high-end Realtors are listing machines, sign a listing agreement with you and then you never see them again. They relegate your important transaction to their children, parents, in-laws or staff rookies. THE CHERRY GROUP (Sylvia Cherry or Gary Hecht) always shows their own listings. We have invested years refining our marketing and especially sales skills. We are Certified Negotiations Specialists, Certified Residential Specialists, Accredited Buyers Representatives, Certified Staging Specialists and Members of the Master Brokers Forum. No staff person can sell like The Cherry Group, that's how we just sold a $2.4 million estate in Cocoplum in just 10 days.
4. Have Sellers ever cancelled their listings with you and why? You would be amazed how many recognized Realtors lose business all the time because sellers cancel their listing because of non-performance. The Cherry Group, The Coconut Grove Realtors, has never in 20 years had a listing cancelled due to lack of performance.
5. Do you have current references? We'll never know why this essential question isn't asked. The Cherry Group can provide 20 current references if need be. Call those references. Ask if the Realor was responsive, stayed in touch and reported to you on ongoing market conditions, after showings and was highly professional in behavior and appearance.

The Cherry Group's Monthly Coconut Grove Home Market Newsletter

Every month, The Cherry group, The Coconut Grove Realtors, compiles the data for sold homes and homes pending sale in Coconut Grove. You'll get a good idea what's going on after reading it.

Coconut Grove Luxury Home Market Newsletter $500K

Closed Sales December 1st 2011-January 31st 2012

3333 S Moorings Wy-5/5/1 + pool, 5,495 sq ft / 11,300 sq ft lot $2,850,000 $518/sq ft (Wtrfrnt)
3512 Bayshore Villas Dr- 3/3/2, 5,273 sq ft/ 5,500 sq ft lot $1,700,000 $323/sq ft (Villa)
3740 Irvington Ave- 4/4 3472 sq ft/ 6,850 sq ft lot $1,275,000 $367/ sq ft
3665 St Gaudens Rd- 5/4/1 + pool, 4,264 sq ft/ 10,008 sq ft lot $1,225,000 $287 sq ft
1820 S Bayshore Dr 4/4 + pool 3,416 sq ft / 20,000 sq ft lot $1,080,000 $316/sq ft
1715 Espanola Dr 4/3 + pool 3,416 sq ft/ 7,000 sq ft lot $881,000 $204/sq ft
89 Bay Heights Dr 5/4/1 + pool 4,208 sq ft/ 12,320 sq ft lot $1,015,000 $241 /sq ft
301 E. Shore Dr 4/4 4,529 sq ft/ 10,098 sq ft lot $895,000 $197/ sq ft
1823 S Bayshore Ln 4/4 2,521 sq ft/ 6,427 sq ft lot $702,000 $278/sq ft
4060 Woodridge Rd 4/3 + pool 2,276 sq ft/ 8704 sq ft lot $630,000 $276/sq ft
4040 Matheson Ave 4/3 + pool 2557 sq ft/ 6,540 sq ft lot $545,000 $213/sq ft
4195 Park Ave 2/1 1,072 sq ft/ 10,252 sq ft lot $545,000 $508/sq ft
4340 Mayfair Dr 2/2/1 2,009 sq ft/ 7,733 sq ft lot $519,000 $258/sq ft

Homes Under Contract (awaiting closing)

3505 Bayshore Villas Dr 4/6/1 6,150 sq ft/ asking$2,399,000 (Villa)
3672 Bayview Rd 5/4/1 + pool 4,473 sq ft / 19,200 sq ft lot/ asking $1,795,000
3520 Bayshore Villas Dr 4/3/1 5,418 sq ft/ 5,500 sq ft lot/ asking $1,450,000
1621 S Bayshore Dr 3/3 2,223 sq ft/ 33,275 sq ft lot/ asking $1,450,000
3604 Matheson Av 6/6/1 + pool, 6,000 sq ft/ 18,480 sq ft lot/ asking $1,300,000
4288 Douglas Rd 5/4/1 + pool, 5,861 sq ft/ 16,367 sq ft lot/ asking$1,299,000
2515 Swanson Ave 6/6/1 + pool, 5,204 sq ft/ 8,670 sq ft lot/ asking $1,150,000
2563 Trapp Ave 4/4/1 + pool, 4,161 sq ft/ 7213 sq ft lot/ asking $1,100,000
3659 Bayview Rd 4/4 +pool 4473 sq ft/ 12,000 sq ft lot/ asking $869,000
25 Samana Dr 4/4 + pool, 3,770 sq ft/ 14,475 sq ft lot/ asking $850,000
3744 Irvington Ave 3/3 + pool, 2,426 sq ft/ 7,450 sq ft lot/ asking $799,000
3861 Kumquat Ave 6/7 + pool 5,000 sq ft / 7,200 sq ft lot/ asking $790,000
2260 SW 28th St 4/3 + pool, 2,216 sq ft/ 7,875 sq ft lot/ asking $660,000
2810 Emathla St (land value) 20,000 sq ft lot/ asking $607,900
2465 Swanson Av 3/3 2,118 sq ft / 6,425 sq ft lot asking$599,000
2520 Lincoln Ave 2/2 + pool, 2,343 sq ft/ 6250 sq ft lot/ asking$559,900
137 W Shore Dr 4/3 + pool, 2,754 sq ft/ 14,475 sq ft lot/ asking $519,000
In this dynamic 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 #1 REAL ESTATE TEAM FOR COCONUT GROVE and Top Producing Realtors Specializing in the Sale of Homes in 33133

Track market activity or search for all homes at our website CHERRYMIAMIHOMES.COM

The Cherry Group of Coconut Grove Invites You to Read its Newsletter

The Cherry Group, The Coconut Grove Realtors invites you to get in touch and to read our statewide and national real estate newsletter. thecherrygroup.housingtrendsenewsletter.com