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Monday, July 13, 2009

Short Sale Market Report Brevard County Florida

Although a bit late this is my July 2009 installment of “What’s Happening in the Brevard County, Florida Short Sale Market?”

As of today there are 1,065 active short sale listings in Brevard County Florida. These are single family detached units – no condos or town houses are included.

The 1,065 short sales represents about 23% of all single family unit listings (4,596 in all) in the Brevard MLS system.

During the period of June 1 – July 12, 2009, there were 141 single family unit short sale closings in Brevard County. That may not sound like very many but the pipeline is primed as there are 952 short sale units already under contract (contingent or pending closing).

Short sales require third party (lender) approval as they are being sold for less than the mortgage owed. Thus the process can be longer than the usual 30 day closing!

Short sales provide some attractive opportunities if a buyer has the flexibility and patience to deal with the sometimes lengthy process.

For information on Brevard County, Florida short sales, please contact me at agent@moving2brevard.com or call me directly at 321-693-3850.

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

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