Betting Long On Vero Beach Short Sales Betting Long On Vero Beach Short Sales October 7 Aut... Marshawn Lynch Jersey , 2013 | Author: Marla Mills | Posted in Customer Service
It’s ironic that the huge demand for Vero Beach short sales is actually driving up the price of these attractively priced beach homes in Florida. The Sunshine State was among the hardest hit states during the real estate crash. The historical statistics starting from 2008-09 show foreclosures rates in communities all over Florida that are higher than the national average.


It follows that short sales would therefore be high too. It’s not just about the large inventory of distressed properties, but also about the attractive pricing of these homes at rates that are far below the asking price for similar non-distressed ones. The trend remains the same in Florida even today, with every community offering a long list of homes that are already bank-owned or in various stages of being foreclosed.


The best of the lot is Vero Beach, which was recently anointed as the top beach destination for getting hold of distressed properties on the cheap. This infamous honor came courtesy of a realty data tracking service which collects foreclosure data on virtually every community nationwide. They claim that, on average, this community’s distressed homes sell for 45% less than non-distressed properties.


Couple this with the large number of homes on the market. The same realty service found that 21 percent of the real estate sold in Vero Beach and its metropolitan area involves properties that are already bank owned or in some stage of foreclosure. It shows the massive potential this market has right now for buyers.


It’s easy to understand why people are so excited about it – more than one-fifth of the available inventory selling for half the price. It’s also important to remember that this is a well-known and idyllic beachfront community located a bare 135 miles from bustling Miami. It does seem like a good deal Aut... Tyler Lockett Jersey , so this might be a good time to find out exactly how it works.


For a home owner facing foreclosure, a short sale is the lesser of the two evils. It allows the owner to sell it off voluntarily rather than have it seized and be evicted. Since the selling price is not enough to pay off the entire balance on the mortgage, it requires permission from the lender. They don’t always agree to it because the lender usually has to write off the deficiency.


The good thing about it is that the costs and fees associated with a foreclosure are eliminated. For the borrower, the bigger benefit is that a voluntary sale doesn’t hurt the credit rating as much as a foreclosure. It’s important to remember that lenders still may come after the borrower for the deficiency, which is the difference between the mortgage balance and the selling price.


As far as buyers in today’s real estate market are concerned, Vero Beach short sales are among the best possible investments. The location and the rising property values in Florida and all over the nation mean that any property investment made today is going to be worth a lot more in the near future. It’s a slam-dunk if the 45 percent or so savings because of the short sale are factored in.


There comes a time when people need extra help to find out about Vero Beach short sales. If you are one of them A... Richard Sherman Jersey , we strongly advise you to browse through this web page http:homelifecoastalpropertiesvero now.

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