Bank Owned Properties are out selling all other inventory by 66% here in Kissimmee/ Saint Cloud, Florida. Although Short Sales out number all listings by about 66%. Currently, banks are not approving all short sales at the contract price. They are trying to get over market value. Bank Owned properties are at market value. Short Sales can take up to 6 months to negotiate, Bank Owned properties in about 1 week.
Most short sales are offered at a price that the market will bare. In a declining market, waiting 6 months, the bank is at the advantage, not the consumer. Bank Owned properties are usually offered just below current market value.
Not all Short Sales take 6 months. But the majority are taking at least that long.
Keep an eye on the market and choose a partner in an Experienced Real Estate Professional.
Mark Horan
"The Resident Chef"
Broker
Resident Team Realty, LLC
Phone: 407-301-0312 Fax: 407-426-1101
Email: ResidentTeamRealty@yahoo.com
Website: www.ResidentTeam.com
 |
|
|
I have the recipe to make home buying and selling a great experience. "See What's cooking in Central Florida Real Estate" Call today 407-301-0312 or visit me on the web @ www.residentteam.com
Sometimes The Question is Tougher Than the Answer.
Is Purchasing A Bank Owned Property in December a Good Idea.
Short Sales and Your Credit Report.
Bank Owned Properties In Kissimmee/St Cloud Florida
"When do You Think The Market Will Stabilize?"
Homes are now Being Appraised at Less That the Materials to Build Them?
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
Powered by the ActiveRain Real Estate Network
© 2012 ActiveRain Corp. All Rights Reserved
