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The Changing Face of Short Sales

Based on the criteria below this search done 08/27/13 shows that there are 187 Properties for sale within a 20 Miles radius of The Orlando International Airport. Of these listings there are some that are not priced correctly and may have other mitigating factors such as HOA liens, etc I have also attached a map of the area covered by this 20 miles radius. If any properties is in your price range and the location you wish to be please let me know and I will review further.

Just a note, the short sale market is changing dramatically and after waiting for months with an executed offer clients are finding out that the banks are re-evaluating the property close to approval and banks are asking for the present market value. This is nothing strange as from the beginning the short sale is to be at “Current Market Value” the dramatic price increases is what is now causing the banks to take this hard look so they can recapture more of their money.

This trend is catching on more and more and In addition with the recent law passed by the Florida Senate – House Bill 87, it is becoming much easier for the banks to foreclose and it is in their best interest now given the provisions in the law to do the foreclosure instead of the short sales. So expect short sales to be harder to get and if approved expect prices to be higher.

With the increased pace of the foreclosure banks will release more inventory but will be careful not to flood the market and prices will also move up. There are a number of other things taking place independently in the market place such as the purchase of the Short Sale processing system – EQUATOR by Altisource , some states now trying to stop agents form negotiating the short sale, etc that when combined and tied together gives the picture of the changing face of the short sale market.

My advise to you is to get ahead of the curve… Below are the links to the 187 Homes. Please review and call me at 407-744-1827 or email me at imrobin@earthlink.net or visit http://www.FLhomeinone.com

17-RES Customer Brief Report

XPROP – Grid View

Status ACT
List Price between 100,000 – 200,000                 Full baths  – Minimum 2
Property Style Single Family Home                              heated Sq Footage – Minimum 1500 Sq Ft
Year Built  2000 and After-
Beds Minimum 3
 
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Posted by on August 27, 2013 in Uncategorized

 

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