Buyers are not just snapping up the hottest new listings that come on the MLS but they are also buying properties that have been sitting on the market for a long time (thanks to low inventory levels). An obvious advantage of buying these homes is that the seller might be slightly more negotiable than a newly listed property and has likely made price reductions along the way.
For example, 2908 Seminole Street was a beautiful property on one of the best streets in Coconut Grove but just needed the right buyer who appreciated the home and large lot size. It has been on and off the market since 2007 but finally sold recently for a sales price of $1,050,000 (list price was $1,295,000). The home needed a significant amount of renovation but offered 4,080 square feet of living space on a rare 20,000 square foot lot. Broker was Coconut Grove Realty.
Another property which sat on the market for awhile was 4070 Ensenada Avenue. This home came on the MLS back in 2010 and offered 4,299 square feet of living space on a 7,839 square foot lot. It was listed at $1,100,000 and sold recently for $1,000,000. The challenge for this home was that it did not have any yard but the owner was offering to sell the adjacent lot for an additional $396,700. Broker was Piquet Realty.
I have earned the distinction of selling the most number of homes in Coconut Grove for the past 3 years. If you would like to schedule a buyer or seller meeting with me, please feel free to contact me on my cell at 305-342-1623 or send me a note here.
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