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Wednesday, October 22, 2008

Short Sale Update for Brevard County

We are about three-fourths of the way through October 2008 so I wanted to provide an update on "short sale" activity in Brevard County Florida. The inventory of homes for sale in Brevard County continues to remain high. As of today there is about 6,600 properties for sale in the Brevard County MLS database.

Of these active listings there are 1,140 listed as short sales requiring third party approval. I am not a mathematician but that looks like about 17% of the active listings! Prices for these short sales run the entire spectrum from about $59K to over a million dollars!

In the Rockledge, Viera and Suntree areas there are 109 properties listed as short sales. Perhaps the market is improving as there were 141 short sales listed as active in this area at the beginning of the month!

So far this month 32 short sales have closed with 9 of these in Viera, Suntree or Rockledge. There is hope as there are 54 short sales listed as contingent or pending as of today. With short sales often taking a couple of months to close, maybe there is some light, albeit dim, at the end of the tunnel!

All these short sales put pressure on all other sellers to compete, so prices are very attractive!

If you are considering a move to Brevard County, Florida, specifically the Rockledge, Viera or Suntree areas, please feel free to drop me an email or a call. I would welcome a chance to send you listings, answer your questions and assist in any way.

Gary Waters, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge Florida. Call me at 321-693-3850 or email me at
agent@moving2brevard.com.

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