Low ball offers, you know the dream of getting something for pennies on the dollar, used to be fairly common.
That was then…when there were way more sellers than buyers, when foreclosures and short sales were the dominant listings on the market.
Now things are a little bit different in the Brevard County, Florida real estate market.
Today there are 672 active single family homes on the market in Brevard County that are designated as short sales or foreclosures. That sounds like a lot but it represents only about 28% of the 2,400+ active listings.
The above is only active listings.
The real story is what about the homes that are selling?
So far there have been 376 residential listings sold in Brevard County through April 22, 2012. Of these residential proeprties sold about two out of every three properties sold is a standard sale.
And so far this month short sales are selling for 96% of list price and foreclosures 99% of list price.
As for standard sales….92% of list price.
Based on the above it sure looks like low ball offers are not as common these days - or at least accepted by sellers.