Lindenhurst NY Short Sale Market Report - 2008 Through January 2011
2008
Six short sale homes were listed. This was the beginning of short sales in Lindenhurst NY
2009
33 homes were listed as short sales and 24 sold. Those homeowners were lucky. No one knew then how many short sales were due to come onto the market. Short sales took so long to close back then.
2010
55 homes were listed and 30 sold.
January 2011
Seven homes came on the market as short sales and 5 closed. Those five are from last year. 2011 will be interesting to see how many short sales come off the market.
Current
63 short sales are on the market in Lindenhurst NY. This accounts for 26% of the homes on the market and it has been holding steady for a year now. I know that sounds like a lot but there are areas across Long Island where 50% of the homes are short sales. Those areas are hurting. Homeowners are having a hard time reselling their homes since cheap short sale homes are being bought more often than regular resales.
2011 is going to be interesting since the short sale program is supposed to end by the end of this year. I hope that doesn't happen. If it does, then we will see more REO properties for sure.
If you have been thinking of selling your home as a short sale, call me today (631) 703-0201. I will help you.
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