I am not a short sale expert. I work with buyers who are in the residential market and who happen to have the flexibility to entertain potential short sale properties.
What is a short sale? Why does a short sale require flexibility? Basically a short sale is a property offered for sale where the probable selling price will be less than the monies owed. Therefore the lender will have to approve any offer the owner accepts. [Notice the owner is the seller, not the bank.] Why does this take flexibility? Because you never know when, and if, the lender will accept your offer or another offer.
In the Viera Florida market there are currently 67 active properties listed as short sales. Sounds like a lot, doesn't it? Considering there are 27 short sale properties under contract in the Viera area then the 67 available does not sound like a great deal!
And of the 67 properties, 7 are in the 55+ communities of Heritage Isle and Grand Isle. So 60 properties is not that many at all. That is a good sign for sellers... as the inventory drops sellers will be competing with each other, not distressed properties!
If you are interested in purchasing a home in the Viera Florida area and have the flexibility, take a look at short sales, You may just find a deal!
Gary Waters, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge, Florida.