Coconut Grove, FL

For South Grove residents this little known bike path off of Loquat Avenue provides access to Coconut Grove's downtown district without having to travel on busy roads.

Enter the brick path off of Loquat, and it will put you out on Franklin. Head East, and you will end up right at the beginning of Coconut Grove's village.

I can’t remember where I’ve heard this phrase before, but when I saw this month’s Coconut Grove real estate statistics it came to mind.

Last month marked the 6th consecutive month that the number of homes for sale in Coconut Grove have fallen. This trend has major implications. In February of 2008 we had 1,007 properties for sale, and in August of 2008 we had only 910. That is 100 LESS homes currently for sale in the area.

Why is this important?

• Experts say that 3 consecutive months of falling inventory indicates a real estate market in recovery (we now have 6!)
• If your house is for sale, you now have a 10% higher chance of selling than you did in February (generally speaking)
• With the number of homes on the market decreasing, the good homes will be snapped up faster than before.

Click here to view this post in its original format at The Real Estate Coconut.

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I am very excited about the new LEED certified home that is going up at 3861 Kumquat Avenue. My wife (who is very green conscious) would kill to live here. Currently there are only 7 homes in the entire state that are LEED certified, none of which target the luxury high end market such as this one.

I spoke with the listing agent, Henry Padroso earlier this morning regarding an update on the project.

• Construction began 2 weeks ago, to be completed in late 2009, early 2010
• Originally designed to comply only with the minimum LEEDS requirements, the developer has gone through extraordinary feats to make the home LEED SILVER certified - which is extremely hard to do based on the fact that it is such a large home (5,000 square feet)
• Low E-glass
• Solar Panels
• Tankless Water Heaters
• The home features HURRI-green construction.
• In addition to the homes original “green” features, Henry told me that the home will now feature the most energy efficient air conditioner on the market. He called it the “Prius” of air conditioners. It requires 70% less duct work, and runs on half of the energy load. The reduction in air ducts improves the air quality promoting a healthier living environment.
• List Price: $2,199,000 (6 bedrooms, 5 baths | 5,000 square feet living space | 7,200 square foot lot)

I am proud to say that Coconut Grove is going to have the first luxury green home in the state of Florida! Henry told me that the developer is putting his heart and soul into the project. I think there is definitely a market for this kind of property.

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This home is located in a little community off of Loquat Avenue. From the outside of the village (a typical Grove jungle), you would never imagine such a beautiful, quaint cottage existed on the property. Featuring Carrera marble counter tops, fine mill work and wainscoting, it is one of a kind.

This cottage would be the perfect second home for a snowbird.

It was reduced yesterday to a new low price of $379,000.

Details:

• 2 bedrooms, 1 bath
• 789 square feet
• $260.00 maintenance fee
• Pets allowed, any size.
• 1 assigned parking space
• Community heated pool
• 3643 Loquat Avenue

If you are interested in seeing this property I would be happy to show it to you, just drop me a note, or call me at 305-342-1623.
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Trulia has a new application for the iPhone which allows you to instantly see homes for sale within a few block radius of where your exact location is.

Imagine this….you are standing on the street corner in New York City, Austin or Coconut Grove.

And you say to yourself….”I wonder what prices are like in this neighborhood”?

You take out your iPhone, click on Trulia’s free iPhone application, and VOILA, you have every house that is currently for sale within a few block radius of where you are standing.

Using the iPhone’s tracking device, the phone can send your exact latitude and longitude to Trulia, which will then give you a detailed map of every home for sale around you (along with pictures, prices, square footage, beds & baths, Listing Agent’s phone number etc.)

What does this mean for real estate?

• More listing agents will double dip their homes.

• Buyers can do even MORE research on their own without the help of a realtor

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