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Tuesday, October 07, 2008

The "Short Sale" Markets in Brevard County Florida

First of all, the title implies there are multiple "short sale" markets in Brevard County Florida. True. The short sale market is different based on locality within the county, sector (i.e. 55+ communities, etc), and price range. This post is a quick snapshot of the "whole" with an emphasis on Viera, Suntree and Rockledge.

Overall, in Brevard County as of today there are 1,170 single family homes listed as short sales. The nice thing is that there are over 325 short sale properties under contract. Once a short sale property is under contract the decision process (third party approval) can take months! [About 70 "sold" during September 2008.]

In the Viera, Suntree and Rockledge area there are about 100 properties for sale as short sales. Seems like a lot...some of these are in 55+ communities such as Heritage Isle, some in newer Viera neighborhoods, some in established neighborhoods....all price ranges! In September there were 5 properties that closed....good news -about 50 are under contract.

Until the short sale and REO inventory is reduced the pressure will be on sellers to compete with this subset of the market. But there are deals...and good deals are not always steals!

For information on the Rockledge, Viera and Suntree real estate market, please contact me. Gary Waters, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge, Florida. Call me directly at 321-693-3850 or drop me an email to agent@moving2brevard.com.

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