A Lack Of “Move-In” Ready Homes In Coconut Grove
August 27th, 2010 | categories: Coconut Grove Real Estate
I talk to other realtors all day long about activity in the area and the market in general. It is a good way to get a sense of what is happening outside of my own personal business and aside from what the numbers may show. Many of them, including myself are concerned about the inventory that is currently available in Coconut Grove. While there are over 200 single family homes for sale the general feeling is that there are not enough “move in ready” homes on the market.
Why you ask? In my opinion, buyers who purchased a home in the last 5 to 6 years are more likely to have made renovations and own a ”newer” home than those who bought 10+ years ago. However, these are the same people who bought at the height of the market and are currently under-water (their mortgage is higher than the current value) and cannot afford to sell.
With demand high, the market for move-in ready homes in Coconut Grove is one of the strongest we have.
If you are interested in buying or selling real estate in Coconut Grove and are looking for an experienced realtor please do not hesitate to contact me. I can be reached on my cell phone anytime at 305.342.1623 or you can send me a message here.
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Riley, you are so right. But it’s the lack of general upkeep that’s a real deal breaker. I realize sellers don’t want to put another cent into a house that isn’t going to bring the price they want, but to let a home deteriorate isn’t going to bring a sale any time soon.
Apartment Dweller Linda