Fort Lauderdale Short Sales are Closing !

Posted by Eric Miller on Friday, July 23rd, 2010 at 8:52am.

Short Sales are working for Many Sellers !

The numbers prove it, in Ft. Lauderale Real Estate, Short Sales are working !

During the last six months there were 14,150 real estate transactions of single family home, condos and townhomes in Broward County. Of these Fort Lauderdale Real Estate area transactions 4700 (33.2%) were REO transactions. REO tranactions (Real Estate Owned) mean these are actual foreclosed properties owned by the lending institution. Short Sales represented 2745 transactions or 19.4% of the Fort Lauderdale Area Real Estate market. An important number to note, as most of our conversations tend to ignore this, it that 47.4% of the market were simply good old fashion equity transactions.

In the last month these numbers shifted, and it will be interesting to see if a trend is developing. In the last 30 days there were 1940 real estate transactions. 31.6 % represented REO properties, and 22.5% represented Short Sales, while equity transactions represented 45.9% of the market.

It is clear that Short Sales are representing an important piece of the Fort Lauderdale Real Estate market, if you are thinking of buying or selling property and a Short Sale may be right for you, call Eric Miller and Associates for expert Short Sale help today in the Broward County area.

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Eric Miller is an award winning Florida Realtor, salesperson and broker. His website, FortLauderdaleGroup.com provides an up-to-date guide to Fort Lauderdale Condos for sale, and the most complete buyer, seller and investor information for the Fort Lauderdale Real Estate Market.

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