Short Sale Activity in Viera Suntree and Rockledge Florida–September 2011
Less than 19% of all active single family home listings in Brevard County, Florida's Viera, Suntree and Rockledge, areas are short sale listings. To hear some folks talk you would think the entire market is distressed which is far from the truth!
Of all the residential units currently under contract 58% are short sales however many have been under contract for some time. The reason, of course, is the short sale approval process can be so long - months!
The short sales closed in August 2011 in Viera, Suntree and Rockledge (18) represent just over 20% of the closings. Another 8% of the closings were foreclosures. Put another way - almost three of four closings are standard sales.
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| Viera East area includes Suntree area north of Wickham Road |
For information on buying and selling a house or condo in Viera, Suntree or Rockledge, Florida, call me at 321-693-3850 or email me.
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.
Read my blogs Florida Homes for Sale, Moving to Brevard County, Florida, and Brevard County Florida Real Estate Information.
Great post Gary! This information is what both buyers and sellers should be aware of....
Gary, Buyers and sellers appreciate this information so they can be aware of the local market. Nice report on Viera, Suntree and Rockledge FLA!
Barbara - Thanks!
Larry & Sheila - Thanks for stopping by! Have a great week!
Gary, This blog is a great testimony to the Rockledge/Viera area of Brevard County. It's a great day to buy real estate in Brevard County!
Gary, this is a very significant statistic for buyers and sellers alike to know about the Rockledge/Viera area of Brevard County. Looks like your market is performing above most of Florida!
Sharon
Hi Gary,
Our numbers are even smaller. 6% of active listings are short sales, less than 14% of short sales ever make it to settlement. But like your area, our pending short sales seem to be pending forever.
Lisa
I was so happy to see that you put it another way. Wouldn't it be nice if our national doom-and-gloom media were able to learn that little technique?
Hi Gary, it's good for consumers to hear that most sales are regular sales and not distressed sales, just contrary to what they get from other sources.
Gary, that's good news!. Your ratio of short sales vs. standard sales looks much better than ours here in CA!
Steve - I think the short sale market is tightening here but I believe the foreclosures may only be starting!
Sylvia - Thanks Sylvia. Foreclosures may be a hidden issue here though.
Russel - Thanks. Doom and gloom sells more news advertising than homes!
Lisa - Excellent numbers! Thanks.
Sandy - Thanks...see ya soon!