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Friday, July 01, 2011

Florida Real Estate Notes: Is there ever a good reason to sell for a loss?

While speaking with a prospective seller yesterday I heard the comment "I don't want to sell for a loss."   Who in their right mind wants to sell for less than they paid for their home?

But there are some who do opt to sell in Brevard County, Florida for a loss..

In the long term a perceived loss today may in fact be the opportunity for a gain as a new purchase may give the seller a chance to buy buy more home  for less

Real considerations should include, among other things,  what one seeks in the long term and affordability based on current (and projected) income.

If a larger home will be needed in the the next year or two, why not pay less in a down market than when the market recovers?  (And it will recover, just when is the question.)

At the other end of the spectrum, downsizing may be the move you are considering.  Why not take a look at that condos on Cocoa Beach (retiring in Florida)  or one of the 55+ communities like Florida's Heritage Isle (named one of the 50 best planned communities in 2011 by Where to Retire magazine)? 

Still some may choose to take advantage of the lower housing prices while retaining their current home as a rental property.

I did not include those who sell as a short sale due to some hardship situation that makes continued ownership impossible.  The short sale situation is different from the standard seller's choices.   If you are in Brevard County and a short sale and you have questions, give me a call to discuss the process.

If you are considering buying a new home in Brevard County, call or email me.  I will gladly send you listings or provide you a no -cost market analysis of your current home.

It doesn't cost a think to look at your options in the Brevard County, Florida real estate!

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