If only life really did mimic the arts!
But it does not.The American Dream of home ownership became a reality for a lot of new buyers during the past three to five years. Folks were buying more house than they ever thought they could afford!
Then it happened. The adjustable rates were adjusted! The zero down loan with the very low payment went through the roof. To exacerbate the issue, job loss became an issue.
No one expected this economical "perfect storm." Thus, our "short sale" and REO/bank owned real estate market!
And, here in Florida, specifically Brevard County, we have our share of short sale properties. A few questions and answers....
Q1. How many short sale listings are active? 949
Q2. How many short sale listings sold in May 2009? 89
Q3. How many active short sale listings in Palm Bay/South Brevard? 314
Q4. How many active short sales in the Viera / Rockledge areas? 73
Q5. How many short sale listings are under contract/awaiting a decision by bank? >700
There are a lot of short sale opportunities in Brevard County (included in short sale numbers are the REO properties that have already been foreclosed). If you have the time (patience), a short sale purchase may be worth considering.
Gary Waters, Century 21 Baytree Realty, Rockledge, Florida. Call me if you are in the market for a "short sale." If you are an owner who may be considering a short sale of your own home, call me, please.
Read my other blogs at www.brevard-homes-for-sale.com and www.gwatersc21.activerain.com.