Real Estate Feast

Archive for January, 2011

2430 Swanson Ave.–Open House Review

I inspected this house in north Coconut Grove when it was open last week.  Swanson Avenue is a very pleasant, quiet street with the benefit of easy access to downtown Miami and Coconut Grove shops and restaurants.  The kitchen has been redone and the home has lots of charm, especially the cloistered back yard.  (There’s a storage shed which has seen better days, but that could easily be removed.)  There’s even a fireplace.  This 1945 three bedroom, two bath house is listed by Coldwell Banker at $639,247, right in the same price range as its immediate competitors in the neighborhood.  But the problem is that very little has sold in the area recently.  So even if your competition is priced about the same, if everybody’s price is too high to sell it doesn’t matter. 

Realist values this home at $450,000.

My pricing verdict:   Better than Realist, but still overpriced.

I don’t let my buyers pay too much or my sellers ask too much.  It’s just not good business.  If you’d like to see this house (and get my specific opinion as to what it should sell for) or any other home in South Florida, you can reach me at 305-401-8058 or bishopric.r@ewm.com.

541 Bargello–Nice but overpriced, I think.

I inspected this open house listed by Avatar Real Estate Services at $725,000.  The house is in decent shape, built in 1970 and looks like the kitchen was redone at some point.  But it is not really improved and needs updating.   It’s a 4/2.5 with a pool. 

Pricing a house is subjective, but in my opinion, this is overpriced based on objective comparable sales in the area within the last six months.  Realist, one of the automatic pricing tools available to realtors, puts this house at between $500,000 and $600,000. 

Based on my own research, my pricing verdict:  Significantly Overpriced!

I don’t let my buyers pay too much or my sellers ask too much.  It’s just not good business.  If you’d like to see this house (and get my specific opinion as to what it should sell for) or any other home in South Florida, you can reach me at 305-401-8058 or bishopric.r@ewm.com.

3811 Wood Ave.–Spectacular Grove Home