Short Sales – Still Here for A While

Posted on by admin_fletcher

Short Sales are not leaving anytime soon!  Anyone who follows the markets in Destin, Sandestin, Santa Rosa Beach, Niceville, Fort Walton Beach and the surrounding area has run into them over the last two years.

Short Sales do require the approval of the lender (or lenders and if PMI insurance is in place it takes involvement from them as well). Short sale approvals are getting approved with some patience from the buyers and some extra work from the sellers. Short Sales are a win-win situation for all parties involved. The seller is able to avoid foreclosure, the lender is able to clear the property from their books & they get paid and buyers purchase a property that is value priced.

The sales prices of a property shows what buyers are willing to pay (market value) and those prices have required more sellers into the position of having to sell their property short of what is owned to their lender. This is a positive thing as it allows more properties to be correctly priced.

Buyers – Don’t be fooled by under priced short sale listings.

Banks do appraisals and sell at or near appraisal value. Everyone knows” AGENTS WHO UNDER-PRICE THE MARKET, DO EVERYONE A DISSERVICE. You can lose months of time and some great buys waiting for a deal that never gets done.

Please call FletcherSales Realty for more information on how short sales work!  850.837.1388
 

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