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Wednesday, April 07, 2010

Short Sale Real Estate In Brevard County Florida – Inventory Remains High as 90 Properties Close in March 2010

Real estate closings in the Brevard County Florida short sale market almost reached the 100 mark in March 2010 by closing 90 deals!  Those 90 units (includes single family houses, condos and town houses) represent only about 13% of the total units sold during March.

With slightly over 1,000 units still active in the MLS system (761 are single family houses) and another 800+ in a pending sale status, the short sale market will continue to pressure the “regular” sales market for some time to come.

The government announced yesterday some streamlined procedures (HAFA) for lenders regarding shorts ales so hopefully this will move the lenders forward in deciding to accept or reject short sale offers.  In its current form short sales may take from three months to a year to get closed! 

The Viera, Rockledge, Suntree and Pineda areas of Brevard County represent about 24 of the short sales that closed in March. With 116 active short sale listings in the Viera, Rockledge, Suntree and Pineda areas there are still plenty of short sale opportunities in some of central Brevard’s most popular areas!

For information on short sales (either as a buyer or seller), please feel free to contact me at 321-693-3850 (office, 321-255-2600) or email me.

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

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