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If you have the time, which do you choose new construction or a short sale?

By
Real Estate Agent with Bucci Realty, Inc. BK3064647

If you have four or maybe six months to wait,  which would you choose, new construction or a short sale?

I ask this only because while looking over recent activity in Rockledge, Florida’s Phillips Landing subdivision I noticed most active listings fall primarily into two categories – new construction or short sale.

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

I will dismiss the foreclosure in this discussion as foreclosures are not the same as either of these.

Several of these homes are very similar.  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 take at least four months and likely longer.

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

New construction is more of a certain thing – if there is such a thing in real estate!
  Keep in mind that a short sale, if approved, may take more than four months and is not a sure thing.

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
Posted by

Gary L. Waters, is a Florida licensed real estate broker associate with Bucci Realty, Inc. in Melbourne, Florida.  

 Call or text me directly at 321-693-3850.

 

 

 

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Comments (5)

Bruce Parker
Best Realty - Highland Park, NJ
You Deserve The Best

good post either one of those is a risk. Its why I have so many grey hairs,

Jun 23, 2011 02:17 AM
Gary L. Waters Broker Associate, Bucci Realty
Bucci Realty, Inc. - Melbourne, FL
Eighteen Years Experience in Brevard County

RE?MAX Best - Yep...at least it is a good excuse for the change in hair color!

Jun 24, 2011 01:46 AM
Jim Frimmer
HomeSmart Realty West - San Diego, CA
Realtor & CDPE, Mission Valley specialist

Are those our only two choices? J♪♫♫♪ I suppose that all things being equal, I’d rather work with new construction.

Jun 24, 2011 01:37 PM
Barbara Hensley
RE/MAX Properties - Rockwall, TX
Homes for Sale in Rockwall County, Texas

Gary - great question!  Personally, I would likely go for the new home as I would have all the choices to make and it would be brand new & spotless at possession.  I listen to clients and we discuss all the options for them and many do like trying for the  short sale, thinking it will be the best deal.  Everyone want a "steal of a deal".  I am working on a short sale now that has been going on several months and things have happened to the home during the process.

Thanks for asking this question as it provides good thoughts for us to use when we are working with clients.

Jun 25, 2011 01:20 AM
Gary L. Waters Broker Associate, Bucci Realty
Bucci Realty, Inc. - Melbourne, FL
Eighteen Years Experience in Brevard County

Jim - New construction it is! Oh if you have four months and a very patient seller I guess a standard sale is an option too!

Barbara - I don't know of anyone who would prefer the short sale. This was almost a rhetorical question I think. Thanks!

Jun 26, 2011 01:15 AM