I did a quick check of the MLS system used by our Brevard County, Florida Realtor's Board (Melbourne Area Association of Realtors). My search was for single family residential dwellings listed for sale with "short sale" as a criteria. The total within the MLS system was 459. I was amazed at the shear number. 

What is this thing called a "short sale?" Basically, a short sale is a situation where the lender is considering or will  consider a purchase price which is less than the money owed on the loan. This is pretty simplistic so if you are considering a short sale, please contact a local real estate agent who is knowledgeable about your area and the process.

I drilled down a bit further and saw there were 32 properties listed as short sales in the Rockledge, Florida area (zip code 32955). This area also includes portions of the newer planned unit development, Viera (parts of Viera fall into the 32940 zip code). This number was not quite as astounding yet it was higher than I initially believed. And the prices? Well, they run the entire spectrum from a low of about $130K to a high in the low $600,000 range.

Because short sales have become such an issue, our MLS system, like many others, was modified to allow the seller's agent to indicate short sale so as to make it easier to find these properties. Some folks interpret a short sale as a potential bargain. This may be true. As a real estate agent I see the short sale as a process which can be time consuming and rewarding for my buyers. From the buyer's perspective as well as the real estate agent, patience is necessary when targeting short sales.

If you are interested in receiving information on some of the short sale opportunities in the Rockledge, Viera and Suntree areas of Brevard County, Florida, please feel free to contact me.

Gary Waters, Florida Licensed real estate agent, Century 21 Baytree Realty, Melbourne, Florida by telephone at 1-800-651-6940 or email me at agent@moving2brevard.com .