Short Sales and Foreclosures In Coconut Grove
November 23rd, 2010 | categories: Short Sales And Foreclosures In Coconut Grove
So far in 2010 Coconut Grove (33133) has had a total of 21 distressed homes sold (short sales/foreclosures). The good news is that it looks like we will end out the year with far fewer distressed sales than we experienced in 2009. The above and below figures include only single family homes in North and South Coconut Grove.
Foreclosures continue to be undesirable for most buyers here due to the deferred maintenance and the fact that most of them require a cash offer. The average foreclosure in Coconut Grove this year sold for $749,500.
Short sales on the other hand tend to be a slightly better option for buyers. If you have the patience and the ability to wait from 5 to 9 months there is potential to get a home for less than market value. I like to tell people that completing a short sale is similar to having a baby. The average short sale this year in Coconut Grove sold for $520,000.
I know the numbers, I analyze the market, my clients make better decisions. If you would like to buy or sell real estate and are looking for an experienced Realtor in Coconut Grove, please don’t hesitate to contact me at 305.342.1623 or send me a note here.