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Tuesday, December 09, 2008

Almost 20% of Viera, Suntree Rockledge Homes for Sale are "Short Sales"

This post is a quick summary of the short sale market in Brevard County Florida. As a full time real estate agent who works primarily in central Brevard County (Viera, Suntree, Rockledge), I try to relate these areas to the whole county. Here is what I have found...

  • Almost 1400 of the 6300 active listings require lender approval (short sale)
  • In November 2008 there were 61 short sales closed (14 were in the Viera, Suntree and Rockledge areas)
  • Short sales sold represents about 19% of all single family properties sold in November
  • There are 146 active short sale properties in Viera, Suntree and Rockledge (744 total for sale). This means almost 20% of the "for sale" units are short sales!

What does this all mean? These short sale properties are priced very competitively. They are putting pressure on competing properties. I have seen some neighborhoods where half the properties for sale are short sales (or REO / Bank Owned).

If you are interested in buying or selling in the Viera, Rockledge or Suntree areas of Brevard County Florida, I would be honored if you contacted me. I can be reached at 321-693-3850 or email me at agent@moving2brevard.com or gwatersc21@aol.com. You are also invited to vist my other blog at www.activerain.com/blogs/gwatersc21.

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

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