One of the things I love most about both Coral Gables and Coconut Grove is that they possess a sense of history unlike any other place in South Florida. The architecture and landmarks pay homage to the past in many respects. While charming and desirable to most, some buyers want to be surrounded by the sense of history but reside in a newly built home.
New homes for sale are few and far between in Coral Gables and Coconut Grove. Its not to say that new construction is not occurring but little is for sale. In fact that there are only 11 newly built properties in Coral Gables and 3 new properties in Coconut Grove. I’ve highlighted two great examples below.
But what’s more limited than new construction and land lots? Construction loans. I’m no economic guru, but it strikes me as a terrific local initiative for banks to loosen the reigns on construction loans. This would spark construction jobs in the community and other significant spending. The real estate market in these parts is improving, finally. Hopefully new construction and builders will enjoy a comeback too.