Why to use ‘Not a short sale’ in Florida Real Estate
I read an article from my Florida Realtors Organization website I thought was worth sharing. 5,000 homes in Boca Raton were studied over 16 months to determine the effects of language in non – short sale listings. The results were not surprising. Homes described as “not short sales,” sold on average, 8 weeks sooner than those that did not point that out. The survey also said that homes listed as “not short sales” garnered a 2-5% higher sale price.
Since short sales have now been around for a few years most people are familiar with the difficulties they bring about. Uncertainty, dealing with banks and HOA’s, and waiting months on end just to get a response is common place in short sales.
If your home is not a short sale and that’s not the first thing written in the remarks your realtor is missing an opportunity.
How does this relate to us? Well, Florida is 2nd in the country only behind Nevada in underwater properties. In Jacksonville, short sales were up almost 13% in the 4th quarter of 2012 from 2011. They are still a big part of our market here in Ponte Vedra Beach, and although they do present challenges they do also present opportunities.