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Friday, October 10, 2008

Are short sales the only thing selling Brevard County, Florida?

The short answer - NO! Today is only the 10th of October so I did a quick search of the Brevard County MLS to see if anything was selling. Yes, properties are closing.

Most closings seem to occur near the end of the month. Still, as of today, there have been 93 residential closings so far this month. As the data always seems to lag a bit the actual number may end up being a little higher.

Of the 93 closings only 11 were short sales. And these short sales appear to be selling pretty close to the last list price - a good indication that the sellers are pricing very attractively when they list the house. None of these sales are at deep discounts off the listing price. These 11 sales represent about 11.8% of the sold properties.

Put another way - almost 88% of the sales are non-distress sales. These homes are being snatched up at some pretty good savings. Deals are out there. As I stated in a previous post:

All great deals are not steals.

Of course, identifying a deal does take some timeWe all know that price is not the only consideration albeit I believe it is the most critical.

If you are in the market for a short sale then there are lots of choices. By the way, 26 of the closings so far this month have occurred in the Rockledge, Suntree and Viera area!

Gary Waters, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge, Florida.

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