The Best of Miami | Introducing the 'Best Of' Series

If you are in the market for a home in any of Miami’s gated communities there is a good chance that Cocoplum is on the top of your list. By now you have hopefully done your research, read my Top 5 reasons for buying in Cocoplum and are close to making an offer on a desired property.
In the current state of the Miami luxury real estate market, the advantage goes to the buyer. We have seen a significant rise in inventory in the $2M+ category over the last year. Regarding Cocoplum Homes, there is only one Cocoplum home for sale listed below $2M which is 8250 La Rampa St. As of this month there is 21 “months of inventory” in Coral Gables for single family homes between $2M-$5M.
Now that you are familiar with the inventory we need to know what sales are like. If you have read anyone of my latest blog posts you will know that renovated homes are going for a considerable amount more than dated homes, but sellers who have disregarded making improvements on their homes are listing their houses at rates of the newer more updated homes.
This is where having a Cocoplum expert will assist you. I have been in or researched every closed and/or pending sale in Cocoplum over the last year. I can identify rather easily what is what. But to save you time use this as a guide.
The average closed sale for dry lots in the last 12 months
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The average closed sale for waterfront homes in the last 12 months
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The Current Pending Sales
The current pending sales are covering pretty much every type of home category available in Cocoplum. Waterfront, non-waterfront, new construction and renovation projects. Having a realtor who has relationships with various listing agents will help you get the latest information on the upcoming sales, which in turn will prepare you to make the right offer.
Know everything about the house
What are the monthly maintenance and utility costs?
Any real estate transaction has a few phases. The home stretch of a transaction is where I feel people are less knowledgeable and don’t foresee possible. Having a realtor with experience in major real estate deals is most important. People tend to have faith in any realtor when things are going right but what happens when things go south? There a few things that can kill your deal and thats why you need to be ready to react.
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Be aware of the possible issues. If you know the pitfalls you will be able avoid them before they happen or react wisely and timely to keep your deal alive.
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