COCONUT GROVE SELLERS GUIDE
by Alba Biondi and Isabelle Andrews
The price of your property will be determined by not only sq/ft value but also intangible assets. Today, sellers and buyers often rely on websites, such as Zillow and Trulia, to assess the value of a property. Because these sites work with logarithms, they very often fail to provide an accurate estimation of value. Our many years of experience in the Coconut Grove market has given us many examples of the value of an intangible. For instance, a home displaying valuable artwork will sometimes bring offers well above the property’s value. The Coconut Grove market is highly diverse, especially when selling a single-family home. The average sold price and median sold price are different. A median price is more accurate to evaluate the Grove market as a whole. A micro-market analysis must be performed to determine the value of a home/condo. Square footage, architecture, lot size, and location will all affect the price point of your property. The location of your property within Coconut Grove will also affect its value. In general, the South Grove single-family market has delivered higher median sales prices through the years, and this market offers more luxury properties than North Grove. On the other hand, North Grove offers delightful areas with similar or higher values on certain streets, such as Emathla, Seminole, and Secoffee. These streets are among the most expensive in North Grove. Single-family homes priced at $1M and below offer similar features in both markets.
Waterfront single-family homes represent a very narrow market. Boating knowledge is a must for selling waterfront property at its highest price point. Be sure your Realtor is familiar with this luxury segment of the market. It requires experience, skill, and geographical awareness.
Alba Biondi / 305 323 2595 • Isabelle Andrews P.A. / 305 546 5421 theteam@groveexperts.com
The Grove Experts ÂŽ . All Rights Reserved.
Coconut Grove offers an extensive array of townhouses. From the unassuming attractive townhouse in Center Grove to a luxury townhouse overlooking the Bay, there is something for everyone. Over the years, we have noticed that many buyers don’t think of a townhouse as a great property for their needs, but most Coconut Grove townhouses are located close to the Village and offer a perfect alternative to a condo or a single-family home.
For all types of properties and locations, sellers should be aware of the following: Buyers are increasingly aware and concerned with the consequences of living in a flood zone, especially because of higher insurance rates. Please discuss this matter with your Realtor. It can make or break the sale. If your property offers a garage, be sure it is clean and free of clutter. Enhancing curb appeal and your property’s appearance is absolutely necessary. Investing in repairs will help you get a top-dollar price and prevent a buyer from trying to renegotiate after inspections. Preparing the property’s ambiance before listing the property for sale is important. This goes beyond burning candles or baking cookies! Some of the best features that sell a listing include a home that is serene, uncluttered, and bathed in beautiful light. It is very difficult for anyone to sell their own property. Emotions often get in the way when attempting to receive the highest possible price. It is very important to have an impartial party involved when making “smart decisions” that may be influenced by attachments and personalities.
Alba Biondi / 305 323 2595 • Isabelle Andrews P.A. / 305 546 5421 theteam@groveexperts.com
The Grove Experts ® . All Rights Reserved.
Your Realtor must understand how wonderfully unique your property is so that he/she will be able to convey its uniqueness to all potential buyers. A deep knowledge of the Coconut Grove micro markets is essential to overcome objections and trigger quality offers. Be sure to hire an expert in the Coconut Grove Market– someone who knows how to listen and strives to achieve your objectives. Hire someone positive with an analytical mind. You expect deep local knowledge and the finest national and international real estate marketing. This is what we provide.
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Alba Biondi & Isabelle Andrews #1 Top Producers • EWM Coconut Grove Office 2013 • 2014 • 2015 • 2016 • 2017 Alba Biondi / 305 323 2595 Isabelle Andrews P.A. / 305 546 5421 TheTeam@GroveExperts.com GroveExperts.com IsaMiami.com The Grove Experts ® . All Rights Reserved.
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