Capron Trace in Viera (Brevard County), Florida is a prime example of a real estate market seeking balance.
There are no regular (fair market) non-distressed properties on the market at this time in Capron Trace. Like many neighborhoods across this nation some may want to sell but are going to wait until the foreclosures and short sales clear.
The reality in some neighborhoods is your only competition is short sales. And, if one hopes to sell, the competition forces them to price near their level!
There are six properties in Capron Trace discussed here… all about 2,000 square feet, all 2 car garages, all built in 2006, all 3 bedroom 2 bath.
- Five of these are short sales.
- Three are under contract and awaiting acceptance by the lender.
- Two are active listings.
- All are priced at $190,000 to $199,000.
- One bank owned (foreclosure) sold in January for $178,500. Foreclosures are typically in worse shape than a short sale.
If an owner in Capron Trace hopes to sell, the price will be in the $190,000 range – that is reality. If you want to purchase in Capron Trace your price will likely be somewhere around $180,000 – negotiate, baby!
That is the reality of a real estate market seeking balance!