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Tuesday, June 08, 2010

Orphan Properties – Always a Buyer Somewhere.....

Recently I read an article that referred to real estate's orphan properties - unwanted/having no appeal to buyers or limited usage prospects. I ran a search of the Brevard County Florida MLS system to look for these "orphans."

I am not sure if these fit the definition of an orphan property but there are 101 single family detached homes listed in the MLS system that were placed on the market between January 1, 2008 and June 30, 2008. 

I wonder if these orphan properties were "left behind" because of ...
  • Price 
  • Location 
  • Lack of motivation by seller 
  • Incurable structural defect or blemish 
  • Neighborhood blight or crime
I do know that some of these were definitely not because of neighborhood blight or crime as 12 homes are located within the Indian River Colony Club, one of Viera's 55+ gated communities.

My belief is these have lingered on the market because of the great alienator in real estate - price! 

No property should be an orphan because for every property there is a buyer - for a price!

If you are in the market for a house or condo in Viera, Suntree or Rockledge, Florida,call me to discuss how I can assist you.

Gary L. Waters PLLC, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge, Florida serving Florida's Space Coast including the cities and communities of Melbourne, Viera, Rockledge, Suntree, Merritt Island, Cocoa Beach and the surrounding region.

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