ISABELLE ANDREWS P.A.
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Real estate attorneys should not be confused with title companies, which insure good title to the property. A title insurance company insures that a title is free and clear of any encumbrances or clouds on the title that could negatively impact the value of a property. While this is an important service, title insurance companies do not practice law. Any lawyer that is working for such a company represents the title insurance company’s interests, not yours.

When purchasing real estate in Florida, it is important to assemble a team of professionals that will look out for your best interests. In addition to a seasoned real estate agent, many home buyers and sellers hire a real estate attorney to ensure that all legal issues are addressed and handled in their best interests. This professional can perform a number of services, including the following:

Review Documents

A real estate attorney can review an offer you make or receive. He or she can check for the legal responsibilities included in the offer and the effect contingencies can have on the transaction. Additionally, many real estate attorneys review deeds and other documents to ensure that the title is clear.

Draft Documents

A real estate attorney can ensure that all legal duties are clearly spelled out in the offer and purchase agreement. In case of legal trouble, it helps to have an attorney on hand who can help prevent ambiguity. While standard forms may work for many buyers and sellers, an attorney can draft an agreement based on the specific details of a transaction. A real estate attorney may accompany you to closing or advise you beforehand to ensure that all of the necessary documents are in order and accurate.

While you technically can buy or sell a property without a lawyer’s assistance, this may be the largest purchase of your lifetime, so it is usually prudent to ensure you have competent representation to protect your legal interests.

If you are interested in buying or selling property, call Isabelle Andrews at 305-546-5421, Alba Biondi at 305-323-2595, or email us at theteam@groveexperts.com.

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Our Purpose is to introduce Coconut Grove to the world as the ultimate neighborhood for people in search of beauty, tropical elegance, and a high quality of life. The pursuit of our client's happiness and satisfaction is at the heart of our team's culture.



 

The Coconut Grove single-family market has had steady, annual price growth over the last few years. For the first time, the South and North Coconut Grove markets had similar sales performances when compared to the previous quarter. The third quarter is typically less active than the second, however this year, 26 homes is the same number sold in South Grove during the second and third quarters. Similarly, 19 North Grove homes sold during the third quarter versus 21 last quarter. These consistent sales statistics demonstrate the continued strength of the Coconut Grove market. The table below shows the specifics of the market based on location in the grove:

MEDIAN PRICE

NORTH GROVE

SOUTH GROVE

WEST GROVE

3nd Q 2013

700,000

912,500

120,000

3nd Q 2014

930,000

1,112,500

187,275

3nd Q 2015

1,100,000

990,100

287,500

TOTAL VOLUME SOLD

NORTH GROVE

SOUTH GROVE

WEST GROVE

WATERFRONT

3nd Q 2013

17,215,000

33,499,000

867,000

11,700,000

3nd Q 2014

11,091,050

31,633,373

921,750

11,410,000

3nd Q 2015

21,492,001

31,306,700

2,032,000

13,400,000

NUMBER OF PROPERTIES SOLD

NORTH GROVE

SOUTH GROVE

WEST GROVE

WATERFRONT

3nd Q 2013

19

30

5

1

3nd Q 2014

10

28

4

2

3nd Q 2015

19

26

6

1

The number of single-family homes for sale with a price point over $1.5M represents 52 % in North and 50% in South Coconut Grove when the number of homes sold represent 10% and 30% respectively.

The median asking price is respectively $1,620,000 in North and $1,494,500 in South Grove when the median sales price is $1,100,000 and $990,100 respectively.

We are the #1 team in EWM Coconut Grove Office. If you are interested in buying or selling property, call Isabelle Andrews at 305-546-5421, Alba Biondi at 305-323-2595, or email us at theteam@groveexperts.com.

We are the #1 Team-EWM Coconut Grove

Grove Experts

Top 1/2 of 1% Nationally

EWM 2014 Chairman's Club - Diamond Level

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We Believe Coconut Grove is Extraordinary.
Our Purpose is to introduce Coconut Grove to the world as the ultimate neighborhood for people in search of beauty, tropical elegance, and a high quality of life. The pursuit of our client's happiness and satisfaction is at the heart of our team's culture.



 

As of the 3rd Quarter 2015, the Coconut Grove re-sale condo market has a stable inventory with a slight decrease in the number of units sold. On the other hand, a very high number of preconstruction units have been put under contract.

The fabric of the Coconut Grove Luxury condo market is changing due to new projects. 336 condos sold in the re-sale market of Coconut Grove from January 2014 until mid-October 2015. During the same period an amazing number of about 276 preconstruction condos were put under contract in the new developments of Park Grove Towers Two and Three, and Grove and Grand Bay combined.

According to the developers, Park Grove Towers Two and Three are already 90% under contract while Grove at Grand Bay, which is to be finished by the first quarter of 2016, is almost entirely sold out. Only one penthouse is available and it can be yours for $28 million. These numbers demonstrate the market’s demand for new construction condos over re-sale condos.

The Uber-Luxury Condo Market will have an impact on the whole Coconut Grove Condo Market for the years to come.

We are the #1 team in EWM Coconut Grove Office. If you are interested in buying or selling property, call Isabelle Andrews at 305-546-5421, Alba Biondi at 305-323-2595, or email us at theteam@groveexperts.com.

We are the #1 Team-EWM Coconut Grove

Grove Experts

Top 1/2 of 1% Nationally

EWM 2014 Chairman's Club - Diamond Level

EWM 2013 Chairman's Club - Diamond Level

We Believe Coconut Grove is Extraordinary.
Our Purpose is to introduce Coconut Grove to the world as the ultimate neighborhood for people in search of beauty, tropical elegance, and a high quality of life. The pursuit of our client's happiness and satisfaction is at the heart of our team's culture.



 

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