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Saturday, December 18, 2010

Foreclosed in Brevard County Florida - Don't Price Your House to Sit on the Market!

Earlier today I tweeted a comment that went something like this....

“Hate to see properties go from fair market “hope I get an offer” to "short sale" to finally "foreclosure"- instead price it right from the start!

I know that in Brevard County Florida I have noticed properties over the past year where the list price was obviously too high and by the time the seller realizes it the property has gone all the way to the foreclosure step.

How can a listing drag out through these steps which can take months?
  • Sometimes it is a real estate agent who failed to convince the seller of the appropriate price.
  • Sometimes it is the seller who will not listen to reason [You will not get more than the sold price for recent sales in your neighborhood and probably less in a declining market.]
  • Sometimes, in a short sale,  it is a lender who is not willing to accept the reality of the Brevard County, Florida market
The truth is...
  • There is a selling price and a sitting price.   Don't price your house to sit on the market! 
  • A short sale is better than a foreclosure.
  • The selling price will be no more than a nearby equal (similar) property that has recently sold.
 If you are in a hardship situation that will not allow you to keep your home, a short is probably an option.  Drop me an email if you are thinking about selling your Brevard County, Florida house or condo.

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