WHAT'S THE LATEST TREND IN SHORT SALE OPPORTUNITIES IN FLORIDA?
According to Florida Realtor.org, Florida was ranked number 2 in the number of short sales approved during the month of October, 2013. Likewise, Florida remains riddled with Foreclosure sales with Orlando and Jacksonville leading the state in the number of foreclosure auction sales.
Certainly as home values and demands rise, banks will find it more prudent to foreclose than approve short sales. This explains the shift recently seen nationwide. Banks are experiencing a quicker turn around of properties as the investor and institutional buyers find bargains at foreclosure auctions. Since that market segment typically pays with cash it will come as no surprise that Florida is the national leader in cash sales (65.6%).
