Short Sales And Foreclosures In Coconut Grove Category
Two Coconut Grove Foreclosures Officially Go Under Contract
February 2nd, 2012 | categories: Short Sales And Foreclosures In Coconut Grove
The two foreclosures that I wrote about a few weeks ago (here) have officially been pended on the MLS. This means that the bank has chosen the best and final offer on the properties and they should be set to close in a matter of weeks barring no inspection issues. The homes were located at 3830 Frantz Road listed for $370,000 and 4288 Douglas Road listed for $1,299,000. Both of these were great deals for the buyers and I am anxious to see what price they ended up trading for. Stay tuned….
The Real Estate Coconut is the most comprehensive online source for Coconut Grove real estate information. Whether you are looking for the latest sales, trends or homes for sale in Coconut Grove, The Real Estate Coconut has it all at your fingertips. Browse Coconut Grove’s gated communities, waterfront homes, villas, townhouses, foreclosures plus much more.
When listing or buying a home it is essential to have a local Realtor who knows the numbers, tracks the market and can value a home correctly. If you are interested in buying or selling I would be happy to meet with you for a no pressure consultation. Call me on my cell at 305.342.1623 or send me a message here.
Influx Of Foreclosures In Coconut Grove Was Expected
January 19th, 2012 | categories: Coconut Grove Real Estate, Short Sales And Foreclosures In Coconut Grove
Since the new year Coconut Grove has seen an influx of foreclosures come on the market. If you have been following my blog over the past year you know that we saw a similar trend at the beginning of 2011. I’m not sure if the banks have a reasoning behind it but if history is any indication they will release several more foreclosures over the next few months and then we will see them taper down as we enter the middle of the year. If you are interested in one of these foreclosures, you have to be ready to pay cash and act fast.
I mentioned the foreclosure on Frantz Avenue earlier this week here…Buyers circling at foreclosures on Frantz and another one worth discussing is located at 4288 Douglas Road in the South Grove (photo above). This has been for sale previously as a foreclosure but the contract fell through at the last minute. The house sits on a nice big lot however it needs a substantial amount of renovations to the interior. List price is $1,299,000 by Kerdyk Real Estate.
The Real Estate Coconut is the most comprehensive online source for Coconut Grove real estate information. Whether you are looking for the latest sales, trends or homes for sale in Coconut Grove, The Real Estate Coconut has it all at your fingertips. Browse Coconut Grove’s gated communities, waterfront homes, villas, townhouses, foreclosures plus much more.
When listing or buying a home it is essential to have a local Realtor who knows the numbers, tracks the market and can value a home correctly. If you are interested in buying or selling I would be happy to meet with you for a no pressure consultation. Call me on my cell at 305.342.1623 or send me a message here.
Buyers Circling At Foreclosure On Frantz Avenue
January 17th, 2012 | categories: Coconut Grove Real Estate, Short Sales And Foreclosures In Coconut Grove
Yesterday a foreclosure came on the market at 3830 Frantz Avenue in the South Grove for $370,800. I went to take a look at it for some clients last night and there were several groups of buyers checking out the house. At this price, the home will certainly sell to a cash buyer and very likely over asking price. View photos and information here. Details: 1,994 square feet of living space, 3 bedrooms, 3 baths with 10,681 square feet of living space.
I knew the previous owners who sold the house back in 2005 for $1,000,000. Back then it was a charming little Grove house but as many foreclosures do it has fallen into disrepair. In my opinion, the house also has some mold issues that will need to be cleared up.
The Real Estate Coconut is the most comprehensive online source for Coconut Grove real estate information. Whether you are looking for the latest sales, trends or homes for sale in Coconut Grove, The Real Estate Coconut has it all at your fingertips. Browse Coconut Grove’s gated communities, waterfront homes, villas, townhouses, foreclosures plus much more.
When listing or buying a home it is essential to have a local Realtor who knows the numbers, tracks the market and can value a home correctly. If you are interested in buying or selling I would be happy to meet with you for a no pressure consultation. Call me on my cell at 305.342.1623 or send me a message here.
Foreclosures In Coconut Grove
November 16th, 2011 | categories: Coconut Grove Real Estate, Short Sales And Foreclosures In Coconut Grove
If you look at the number of people who are behind in their mortgage payments in Miami the figures can be quite daunting. Although the foreclosure numbers are up from last year, we still haven’t experienced an onslought of them here in Coconut Grove. Out of the 133 single family home sales in Coconut Grove in 2011 there have been 14 foreclosures sold. As you can see below, a majority of them are in the $500,000 and below price point.
If you would like more information on the foreclosures sold this year, click here to scroll through the details and information.
The Real Estate Coconut is the most comprehensive online source for Coconut Grove real estate information. Whether you are looking for the latest sales, trends or homes for sale in Coconut Grove, The Real Estate Coconut has it all at your fingertips. Browse Coconut Grove’s gated communities, waterfront homes, villas, townhouses, foreclosures plus much more.
If you are interested in buying or selling real estate in Coconut Grove and are looking for an experienced real estate agent please do not hesitate to contact me on my direct line at 305.342.1623 or send me a message here.
Short Sale Homes In Coconut Grove
October 17th, 2011 | categories: Buying Real Estate in Coconut Grove, Short Sales And Foreclosures In Coconut Grove
For the most part short sale properties do sell slightly below market value here in Coconut Grove. The problem with (unapproved) short sales is that many buyers don’t have the luxury of time to sit around and wait for the short sale process to go through. In the past 30 days there have been 3 short sale homes sold here in the Grove. The “months on the market” for these properties have ranged anywhere from 5 months to 20 months.
The first sale was located at 3950 Park Drive in South Coconut Grove (see photo above). This house was placed under contract within the first few days of coming on the market and then took 5 months to work its’ way through the bank. The buyers had to have quite a bit of patience to wait out this process and obviously did not need a home to live in right away. The 15,000 square foot lot contained 2 homes with 2,179 square feet of living space and sold for $549,000 or $251.00 per square foot. This home was listed by Leslie Jones of EWM Realtors.
The second occurred at 3610 Douglas Road (also known as 3700 Kumquat Avenue) and sold for $360,000. This home was located on a 15,632 square foot lot and offered 2,231 square feet of living space. The home needed some updating on the interior but the big problem was that the main house was very small and the guest house took up a large chunk of the 2,231 square feet of living area. The home was also located on a busy street. It is not clear from the property history exactly how long the final buyers waited this one out because the house went pending and active several times before it closed. If you calculate from the day it came on the market until the day it closed, the property sat on the market for 7 months.
The last short sale to close in the past 30 days in Coconut Grove occurred at 2627 Halissee Street in North Coconut Grove. This home had the highest “months on the market” coming in at 20 months. The home offered 2,043 square feet of living space with 4 bedrooms, 3 baths plus a pool. It appears that the home needed renovated on the interior. It closed for $460,000 or $225.00 per square foot. The home was listed by Ruth Johnson of Coldwell Banker.
So as you can see, waiting out the short sale process can be a crap shoot. I have seen short sales pushed through in 90 days, but some can take almost 2 years to close. Recently I had buyers who waited for several months on a short sale home only to hear from the bank that they were going to let it slip into foreclosure. You may be rewarded in the end with a slightly better deal, but many times the headaches aren’t worth the money.
Foreclosure In Coconut Grove Sells, 3835 Park Avenue Coconut Grove 33133
August 8th, 2011 | categories: Short Sales And Foreclosures In Coconut Grove
The home located at 3835 Park Avenue closed on the MLS today for a sales price of $1,305,000 or $236.00 per square foot. I first wrote about this house when it came on the market as a non-distressed sale priced at $1,499,000 back in 2010. There was a lot of interest in the home however it quickly became evident that it was going to be a short sale. It turned out, this was one of those non-sellable short sales due to too many encumbrances.
l wrote about the home again when it hit the market as a foreclosure a few months ago priced at $1,230,000. Not only did the home go under contract within days of coming on the MLS but it sold for $75,000 above the bank’s list price. In my opinion, the buyers got a great deal on this home which was located on a quiet cul-de-sac in the South Grove.
This sale is the highest priced foreclosure to sell all year in Coconut Grove.
The Real Estate Coconut is the most comprehensive online source for Coconut Grove real estate information. Whether you are looking for the latest sales, trends or homes for sale in Coconut Grove, The Real Estate Coconut has it all at your fingertips. Browse Coconut Grove’s gated communities, waterfront homes, villas, townhouses, foreclosures plus much more.
If you are interested in buying or selling real estate in Coconut Grove and are looking for an experienced real estate agent please do not hesitate to contact me on my direct line at 305.342.1623 or send me a message here.
New Foreclosure In Coconut Grove
July 23rd, 2011 | categories: Short Sales And Foreclosures In Coconut Grove
Last night a foreclosure came on the market at 4288 Douglas Road in South Coconut Grove for a list price of $1,299,000. It was actually listed at this price for several months before the home fell into foreclosure so I doubt that the bank is going to get close to asking price. The house is on the quieter part of Douglas Road and it sits on a decent lot that is 16,000 square feet. Details include: 5,861 square feet of living space, 5 bedrooms/4 baths, built in 1926.
If you are interested in buying or selling real estate in Coconut Grove and are looking for an experienced real estate agent please do not hesitate to contact me at 305.342.1623 or send me a message here.
To stay updated with all Coconut Grove real estate information, receive my blog posts via email by subscribing here. Once you register, you must activate the subscription in a followup email.
Another Flip For Sale In Coconut Grove
June 29th, 2011 | categories: Short Sales And Foreclosures In Coconut Grove
This house located in Entrada Estates in the South Grove came on the market back in 2009 as a foreclosure and was purchased by investors for $620,000 (under $200 per sq. ft.). They have completely gutted and renovated the home and now put it back on the market at a list price of $2,495,000 (see photo below). This home has quite a history, prior to slipping into foreclosure in 2009, it sold for $1,270,000 back in 2005. This is just another example of the roller coaster ride our market has been on here in the Grove.
3690 Stewart Avenue Details:
- Located In Gated Community Of Entrada Estates
- 6,050 Square Feet Of Living Space
- 13,950 Square Foot Lot
- 5 Bedrooms, 6.5 Baths
- 2 Car Garage
- Listed by Barnes International Property Consulting
- List Price: $2,495,000
When listing or buying a home it is essential to have a local Realtor who knows the numbers, tracks the market and can value a home correctly. If you are interested in buying or selling a Coconut Grove home I would love the opportunity to work with you. Call me on my cell at 305.342.1623 or send me a message here.
Another Historical Sale In Coconut Grove
May 19th, 2011 | categories: Short Sales And Foreclosures In Coconut Grove
The property located at 3835 Carole Court is the highest priced short sale to sell in Coconut Grove’s history. It was listed for $4,895,000 and sold for $4,350,000. I know the house very well and it was unique because you were paying for a canal-front home but actually had good views of the bay from the master bedroom. This makes the third waterfront sale in Coconut Grove so far in 2011. The home closed for $556.00 per square foot, which in my opinion is market value. This is another example that you don’t always get to steal the property when it is a short sale. The listing agent was Toni Schrager of Avatar.
If you are interested in buying or selling real estate in Coconut Grove and are looking for an experienced real estate agent please do not hesitate to contact me at 305.342.1623 or send me a message here.
To stay updated with all Coconut Grove real estate information, receive my blog posts via email by subscribing here. Once you register, you must activate the subscription in a followup email.
The Waiting Game – How Long Does It Take To Sell Your Coconut Grove Home?
May 11th, 2011 | categories: Coconut Grove Real Estate, Selling Real Estate in Coconut Grove, Short Sales And Foreclosures In Coconut Grove
I am working on the figures for my Coconut Grove real estate talk and am looking over the average length of time it takes for a property in the Grove to sell. These figures will probably surprise many of you especially those who currently have their home listed. Keep in mind that if you price a property right it should go under contract within 30 days. For example the listing that I recently placed on the market at 3630 Battersea Road is already under contract and two of my most recent closed sales in the North Grove were under contract in less than a week. The one thing they all had in common was that they were priced to sell quickly at the highest price the market would bear.
These figures are calculated by hand and not taken from the MLS which frequently has errors regarding “days on the market”. The below time is based on when the home came on the market and ends when the home officially closes. This gives you a true estimate of how long it should take between the moment you place your house on the market and the day you move out.
- All Coconut Grove Homes: 8 Months
- Above $1,000,000: 13 Months
- Below $1,000,000: 7 Months
- South Coconut Grove: 8 Months
- North Coconut Grove: 6 Months
- Coconut Grove Foreclosures: 5 Months
- Coconut Grove Short Sales: 11 Months
When listing or buying a home it is essential to have a local Realtor who knows the numbers, tracks the market and can value a home correctly. If you are interested in buying or selling a Coconut Grove home I would love the opportunity to work with you. Call me on my cell at 305.342.1623 or send me a message here.