Foreclosures In Coconut Grove | Are They Still Available?
By Riley Smith, Coconut Grove Specialist
(EWM Realty, International)
These days it seems that the media would rather talk about the rising home prices than the fact that the number of foreclosures is still double what they averaged between 2000 and 2006 (source: Wall Street Journal). Here in Coconut Grove, we have never had the rash of foreclosures that other parts of the country experienced. In fact, for the past few years there have been just 5 to 15 single family home foreclosures sold each year. In 2013, there were 6 single family homes in North and South Coconut Grove combined. These homes ranged from $605,000 to $1,450,000. Because it is such a small sample size, you cannot look at the "average sale price per square foot" to give you an indication of whether they are selling above or below value. Instead, you would have to perform an individu...
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