Condos & the Short Sale SW Pensacola & Perdido Key

As of November 5, 2009 there are currently 289 active condominium listings. These range in price from$64,900 to just under $4,000,000 of these 289 there are only 37 advertised as short sales, 8 advertised as foreclosed. That is only 15.5% of the condo market. For those Buyers looking to take advantage of this small piece of the marketplace, it has never been more important that you choose an expert to work with in negotiating your sale.

Based on recent conversations with several lenders, they are indicating that individual negotiators are back up with as many as 300-500 files on their desk. Buyers cannot afford to have an agent submit an incomplete or inappropriate short sale package. A typical short sale package going out of my office entails researching the Seller, and preparing up to 50 pages, formatted, and labeled in manner most desired by Lender. If you are a Buyer willing to wait the time to hear a response from the lender upwards of six to nine months in some cases, you can expect to get a very good deal.

Buyers also need to be aware that Sellers cooperation and qualification is a necessary requirement in getting their short sale through. I am constantly hearing of Buyer's horror stories of having attempted a short sale with poor results. The industry standard for agents with Certified Distressed Property Expert training compared to those without is the difference between closing 85% of their transactions as opposed to on 30%. If you are thinking of considering a short sale, who do you really want to work with? Meg Vogt, Broker CRS CDPE and REO Specialist has the training and the experience to achieve your real estate goals. Contact her at her office Exit 2 Paradise Realty 850 492-6972 or on the web at www.Exit2Paradise.com