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Wednesday, January 27, 2010

Should You Buy a New Construction Home When Short Sales are Plentiful in Same Development?

I intended to provide a bit of a market summary for the Phillips Landing subdivision in Rockledge, Florida.

However, after looking at the active and pending or contingent sales in Phillips Landing subdivision, I decided to address another question buyers should consider when purchasing a home in Brevard County, Florida,.......

Should one buy a new construction home while so many short sales are on the market?

Short sales sometimes frequently take a long time to close. The time frame can be as short as a few months or as long as maybe a year. It all depends.

You never know if a short sale will close but one thing you should keep in your thoughts – home prices are still falling in Brevard County, Florida.

New construction is frequently not yet completed so you are negotiating on a price for a future delivery.

When I look at Phillips Landing in Rockledge Florida I see six short sale properties under contract, another three active short sale listings and some newer construction listings at $200,000+, it makes me wonder.

Sure, it is a good time to purchase but which one? There are other considerations besides price. This is where your real estate agent and mortgage lender can help!

For information on homes for sale in Rockledge, Florida, just drop me an email to agent@moving2brevard.com.

Gary Waters, Florida licensed real estate agent, Bucci Realty, Rockledge, Florida working on an exclusive basis with Century 21 Baytree Realty.

Read my blog Florida Homes for Sale.

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