I want to pass on a story of what happens when you look at short sale listings as part of the current market.  I provide a tool called Listingbook to let my clients, and potential clients, browse the MLS at their own pace.  I think it is a great tool for buyers and sellers but it has one drawback.

The public looking at all the listings are seeing some really good deals.  I have seen custom built 4 bedroom homes with over 2500sq ft listed for sale at $85,000.  What a deal!!!  I bet a few sellers would hate to see that as they are asking $150,000 -$200,000 for their comparable home.  Buyers send me listings daily like this one and they are excited to see what they can now afford.  Here is the problem:  This is a short sale and realistically has about a 3% chance of ever selling for this price.

So what are we left with?  Angry sellers who don’t appreciate having their listings compared to a property with little, if any, chance of selling for the insanely low price being asked.  This is easy for me to deal with as I can quickly educate them on this type of sale.  Once they hear how many of these actually sell they usually settle right down.

A buyer that has seen these gorgeous homes priced below $100,000 is not so easy to overcome.  You try telling a first time home buyer who has based their new home dreams based on prices that they will realistically never see. I hate to be the bearer of bad news to anyone but if you are looking at short sales then you are browsing in la-la land.  Here is my opinion:  Short Sales are not where the deals are.  Call me to find out where they really are.

And you can take that to the bank.

I am a Full Time Pine Island Realtor and Resident.  I specialize in waterfront homes and property, and am anxious to help you in any way that I can. Give me a call today at (239) 313-3632 or shoot me an email to let me know how I can help you.