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Archive Monthly Archives: September 2013

Wellington Short Sale Market Report for September 2013

Wellington Short Sale Market Report for September 2013 

The inventory of short sales for sale in Wellington had dwindled down into the teens this past 9 months. However, this month, there was an increase of short sale listings on the market. 

While for many months the number of active short sale listings for sale in Wellington hovered around 14 that number changed suddenly to a total of 22 properties listed for sale as short sales in Wellington.

While some of the properties are newer on the market the real reason the number of listings increased is mostly from Fannie Mae owned mortgages going through the short sale process being kicked back into the market due to over the market value counter offers regarding what Fannie Mae is willing to accept as a short fall on a short sale. Wellington Florida Short Sales

We have a listing where the market value is only $175,000 but Fannie Mae kicked the full price offer back with a counter of $279,000. There is no way the house will appraise for that outragious amount of money. 

This is the kind of issue that short sales are having if Fannie Mae is the investor on the file. So if homes that were under contract are countered at values that buyers in their right minds will not pay- those properties have to go back on the market. They will then sit there on the market. As they sit on the market other short sale properties get put on the market and this increases the number of Wellington short sales currently active on the market. 

If you own a home in Wellington or Palm Beach county areas, Broward and Dade county areas, Martin and St Lucie county areas- contact Nestor Gasset at 561-753-0135 today to schedule a phone conference call to go over your short sale and foreclosure options. 

Click here to view all the Wellington Florida Short Sales.