THE LISTING PRICE OF THIS HOME WAS REDUCED TO $263,900 ON JULY 30, 2008.

THE LISTING PRICE OF THIS HOME WAS REDUCED TO $271,900 ON JULY 11, 2008.

This corporate-owned single-family home in North Gables was actively listed for sale last month.

Property Characteristics

* 3 Bedrooms
* 2 Bath
* 1,037 SF (Living Area)
* 5,350 SF (Lot Size - 50 x 107)
* Year Built = 1946

This home was originally a 2 bed/1 bath home with a 1-car garage. The 1-car garage was converted into a 3rd bedroom with a full bath. The roll-up garage door is still in place (see photograph above). The living area reflected on tax roll (1,037 SF) does not reflect the additional living space from the garage conversion.

The original structure of the home features original Dade County pine wood floors. The interior is graced by a kitchen equipped with Thermofoil cabinets and granite counter tops, as well as 2 bedrooms complimented by a living area and a remodeled hallway bathroom. The 3rd bedroom features laminate wood flooring. Windows and exterior doors look like they were replaced not long ago.

The home is located on Wallace Street, a semi-private road not accessible from Tamiami Trail (SW 8 ST). It is only accessible from the south via Venetia Terrace.

You may recall that I featured another corporate-owned foreclosure on Wallace Street about 2 weeks ago. That property, located across the street from this one, went under contract on July 2, 2008. It was on the market for 13 days before it went under contract.

Inquiries regarding this home can be made at 305-491-7179 or 786-586-5844.

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The smoke:

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The smoke clears:

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Raul, the lone representative from the Gables Condo Blog to attend the event (the other failed to hear the Urban Theme ring tone of his Motorola Razr at 6:02 am while counting sheep - the Cabernet Sauvignon from the night before may have had something to do with it), described it as:

“Anticlimactic. The first implosion in the history of the City of Coral Gables was a dud. Tripods, 35 mm cameras, digital sophistication, screaming children, frightened adults, champagne sippers, political big wigs, air test samples, loud blasts, blinding smoke…and when it was all said and done, the concrete elevator shaft in the middle of the mostly steel structure was left standing. The puzzling look of disappointment could be seen in the faces of most in attendance. Can you say ‘refund’?”

According to an article in today’s Miami Herald, the good folks at Dykon Explosive Demolition finished off the job this morning.

The lot will now be cleared to make way for a 15-story office tower that will serve as the office portion of Old Spanish Village, a 7-acre mixed-use community planned for the eastern curve of Ponce Circle Park that will feature luxury condominiums, townhouses, offices and a retail component.

The office tower, to be modeled after a 15th century Gothic Cathedral complete with arches, stain glass windows and steeple towers, is to be developed, owned and managed by Allen Morris Company - the same Allen Morris Company that developed the beautiful Alhambra Towers at 121 Alhambra Plaza. It is destined to become the first-ever “Silver LEED certified” office building in Coral Gables.

LEED is the Leadership in Energy and Environmental Design Green Building Rating System (TM), the nationally accepted benchmark for the design, construction, and operation of high performance green buildings.

For information regarding Old Spanish Village call Raul Estrada at 786-586-5844 or Adrian Salgado at 305-491-7179. If you’d like to know what it feels like to wake up pre-6:00 am on a Saturday morning after a stressful and hectic work week, call an eager and energetic Raul Estrada.

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THIS PROPERTY WENT UNDER CONTRACT ON JULY 2, 2008.

This corporate-owned single-family home in North Gables was actively listed for sale last week.

Property Characteristics

* 2 Bedrooms
* 1 Bath
* 1,072 SF (Living Area)
* 6,955 SF (Lot Size - 65 x 107)
* Year Built = 1946

This home is located on Wallace Street, a semi-private road not accessible from Tamiami Trail (SW 8 ST). It is only accessible from the south via Venetia Terrace, giving the entire block that child-friendly neighborhood feel you thought was only achievable 30 miles away from Downtown Miami.

The home features a brick-paved driveway leading one to the entrance of the home. The interior is graced by an ample living area, a kitchen equipped with Thermofoil cabinets and black granite counter tops (missing appliances), 2 bedrooms with decent closet space (at least for Coral Gables standards), and one hallway bathroom. Windows and doors look like they were replaced not long ago.

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The home appears to be in move-in condition. Of course, some interior alterations, a little bit of paint, and a little TLC won’t hurt. The good news is that no bootleg additions have been made to the original structure. Previous owners have maintained the structure’s architectural integrity throughout the years - a good thing.

It’s current design, coupled with a large lot with plenty of room in the back and the south side of the property, allows future owners to add living space to the existing structure (i.e. a master bedroom with a walk-in closet and a master bath) and still have room for outdoor amenities.

This home last sold for $590,000 in January 2006.

Can somebody call the “task force”?

Inquiries regarding this lovely home can be made at 305-491-7179 (that’s me) or 786-586-5844 (that’s Raul). Operators are standing by.

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Sunday, February 17, 2008
11:30 am (ish)

Chili’s Outlines Plans for New Venue in Gables

Remove restless torso from Stearns & Foster. Wash face. Wipe cold out of eyes. Back to Stearns & Foster.

Chili’s Outlines Plans for New Venue in Gables

Miami Herald headline remains unchanged. I guess Coral Gables wants their “baby back, baby back…”.

The development of the U.S. Interstate Highway System (Dwight D. Eisenhower’s baby) in the 1950’s facilitated many things. It allowed businesses to ship goods and services across the country, families to utilize the vehicle to vacation in far-away destinations, and facilitated the birth of the franchise chain. Motels, diners, gas stations, and fast food chain restaurants soon sprouted next to every highway, in every town, every city, and (later) every suburb throughout America.

While Coral Gables has never been strongly adverse to big brands (remember the Burger King on the NW corner of Miracle & Galiano where Nexxt Cafe operated for what seems like 3 months?), the area’s restaurant scene, once dominated by independent “mom-n-pop” establishments, has changed considerably in the past few years.

Monounsaturated trans fats, monosodium glutamate (MSG), soy protein, high-fructose corn syrup, and yellow #5 are not what worry me most. The lack of fresh ingredients isn’t either. I mean, what you eat doesn’t make me _ _ _ _ (rhymes with sit).

My concern is the changing atmosphere in Miracle Mile. While the bar and restaurant landscape has become glitzier and shinier (think Tarpon Bend & Houston’s), the Mile’s texture, character, personality, and neighborhood feel have become endangered species.

When I walk the Mile and the surrounding area these days, I feel like I’m at an outdoor version of a suburban mall. The distinctive charm is gone. There’s a lack of energy. A lack of creativity. The entrepreneurial spirit of yesteryear is nonexistent. Miracle Mile could be anywhere. What happened to its identity? What makes me want to say: “This is where I want to live!”?

I have always felt (and still do) that the neighborhood north of the Central Business District - North Ponce (loosely defined as the area north of Minorca Ave, west of Douglas Rd, and east of Le Jeune Rd) - has the potential to become a quasi-urban neighborhood that attracts the creative 20 & 30-somethings in search of a place to establish the knowledge-based and creative-content industries that drive so much of today’s economic growth.

I hope local leaders and market forces find a way to create a community that fosters diversity, tolerance, and openness to new ideas. I hope they create a community that attracts the very people who will demand and establish authentic eateries along Ponce de Leon Blvd. I hope they create a community where mediocrity is not tolerated. I hope they create a community where mothers can walk their children to Coral Gables Elementary and stop at the bakery for a freshly baked baguette on the way back home, while fathers walk to the storefront office to make that dough.

I just hope they don’t recreate present-day Miracle Mile.

Adrian Salgado is a Realtor Associate with RED I Realty and can be reached at 305-491-7179 or SalgadoA@gmail.com.

This post does not intend to defame any of the restaurants mentioned or pictured above. As a matter of fact, you can catch me in a certain corner having lunch sometimes (even though they destroyed their menu when they removed the Hawaiian Ribeye, the pork chops, and the baked beans from their culinary repertoire). You may even see me in there on a Friday afternoon amongst the chickenhead convention taking place inside. Guilty pleasure. It entertains me.

By the way, although you’ll never see me eating inside the new Chili’s (when it opens), you may see me having 2-for-1 Killian’s Red amongst the 2-for-1 Cuervo (sorry, no Patron) margarita-sipping secretary/administrative assistant happy hour set that Chili’s is sure to attract. I’ll take that over the Grey Goose-sipping, Prada sunglass-wearing secretary/administrative assistant happy hour set at that certain corner 10 out of 10 times. I’m just saying.

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THIS PROPERTY SOLD FOR $250,000 ON JUNE 25, 2008.

This bank-owned 1950’s Coral Gables Ranch-style home in search of reliving her glory days was recently reduced to $275,500.

Property Characteristics

• 2 Bedrooms + Den (last used as a bedroom)
• 2 Baths
• 1,378 SF (Living Area)
• 5,000 SF (Lot Size - 50′ x 100′)
• Year Built = 1956
• One (1) Car Garage

This property lies within the area once proposed to be established as the Single Family Conservation District of the North Ponce de Leon Neighborhood Plan. It is just west of Douglas Road and north of Tamiami Trail.

The floor plan features an open living area typical of the modernist ideas infused into “Ranchers” by mid-century architects looking to create an informal and casual lifestyle. Originally a 2-bedroom dwelling, this property remains true to its architectural roots by allowing rooms to be rearranged and serve different purposes. In this case, the use of what looks to be an original den or an extension to the living area was changed to a bedroom. It’s use can easily be changed into a home office, library, home gallery, children’s playroom, etc.

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The exterior of the property features an open terrace. Shade is provided by the limbs and leaves of a Mango tree and an Oak tree.

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I’ve seen six (6) single-family REO properties (bank or corporate-owned) priced under $350,000 in Coral Gables these past few days and this is the only property remotely close to being habitable. It’s also the lowest priced. Its location plays a major role in its pricing. Had it been located further west on the same block I don’t think I would be writing about this property’s availability right now.

This property last sold in March 2006 for $535,000.

If you’re bored at home/work right now and feel like talking to someone about this property, about Ranch-style architecture or about how Paul Pierce stuck it to his hometown team last night, you can call Adrian at 305-491-7179 or Raul at 786-586-5844.

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