Short Sale statistics in palm beach as collected by the Florida Association of Realtors (FAR) claim that Short Sale numbers are down in comparison to REO closed transactions and on average sell for less money than their REO counter part. Below are the numbers:
Comparing the numbers given for June 2012 as against the numbers given for this June 2013 the numbers are as follows:
For REO transactions; June 2012 saw 136 Closed Transactions as opposed to June 2013 which had 162 closed transactions.
As for Short Sale Transaction in Palm Beach; June 2012 witnessed 222 closed Short Sale transactions as opposed to 187 closed Short Sale Transactions for June 2013.
even more interesting was the prices:
For REO Closed Transactions; the average closed sale price was $131,375 for June 2012 and $152,000 for the REO Closed transactions in June 2013.
Short Sales experienced an opposite trend when in June 2012 the average Closed Short Sale Transaction had a sales price of $166,000 and in June 2013 a mere $150,000.
What does this mean?
1. More buyers are bidding on REO listings and driving the price up due to fierce competition during the bidding process.
2. The Banks are more inclined to approve a short sale transaction for a lower amount than that of their REO active listing.
3. Less competition on a Short Sale Listing.
To Sum this Blog up if you are currently in the Market and you are not pressed with time look into bidding on a Short Sale. Realtors are much more knowledgeable these days in dealing with these transactions and Banks are set up to approve them.
Stateland Brown LLC is very knowledgeable and experienced in dealing with short sales and can help you either sell your Short Sale Listing or indeed help you navigate your way to the closing table on a purchase.
Please visit our Sellers recourse page for Short Sales if you are contemplating listing your home as a Short Sale.
http://www.statelandbrown.com/short-sales/sellers/
http://www.statelandbrown.com/short-sales/sellers/home
We are happy to answer any questions you may have so feel free to phone the office at 561 245 8722. You can also email us on inquiry@statelandbrown.com.
About Stateland Brown Broker: Our Managing Broker and owner of Stateland Brown LLC., Daniel Statlander, has over 17 years of experience in buying and selling real estate. If you’re a license agent in search of a well-balanced and productive office to hang your license, please give the office a call at 561-245-8722. For more information about us, please visit www.statelandbrown.com.
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