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Wednesday, June 15, 2011

Home Buyer Tip: If you have four months which do you choose, new construction or a short sale?

While looking over the recent activity in Rockledge, Florida’s Phillips Landing subdivision I noticed most of the active listings fall primarily into two categories – new construction and short sale.

Of the six active listings in Phillips Landing on June 14th,  there are three short sales , two new construction properties and a lone foreclosure.

First of all, I will discount the foreclosure from this discussion as foreclosures are not the same as either of these.

Several of these homes are very similar in size (2000-2400 sq.ft. under air).  The prices are not that far apart either – perhaps $10-15,000 once you get a reasonable offer signed off by the seller.

The new construction properties are listed with four months as the build out time.   If you are lucky a short sale will likely take at least four months.

So, which do you choose, a short sale or new construction in Phillips Landing? 

A short sale may or may not be approved.  New construction is more of a certain thing – if there is such a thing in real estate!

If new construction is your choice....

If you are looking for a new home in Phillips Landing, Chelsea Park, Augusta Trace or any of Rockledge, Florida's great neighborhoods, call me at 321-693-3850 or email me

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