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.