Short Sales in Cypress Cay

By October 18, 2010 Market Report No Comments

Short Sales in Cypress Cay


Short Sales in Cypress Cay

I have been fortunate to have sold one of the first short sales in Cypress Cay.  The short sale I closed was completed at a time when few were being done.  The process was new to most people and uncommon for the banks.  There has been a huge movement on the part of the banks to make short sales more common in an effort to stave off foreclosures.  They have found out that the foreclosure process is very time consuming and as a result very costly.  Not only do they have to carry the property with no income from it for extended periods of time but the homes sit empty and most of the time without electric or ventilation leading to accelerated deterioration and declining values. 

The short sale process can still be difficult but due to a shift in banks’ attitude toward them they are much more likely to succeed than in the past.  Banks are beginning to see that having a quick and seamless sale is superior to a lengthly and uncertain foreclosure.  That is not to say that they are for everyone.  While we routinely see the process flow smoothly we still periodically experience the one that just languishes for months on end and in the end be assigned an unrealistic value that kills the deal.  Buyers that choose this route need to be ready and able to wait 6 to 9 months for an answer.  Sometimes it works, other times it does not.  Take a look at the current short sales in Cypress Cay.  The advantage is in being able to move in to a home that has not sat vacant.  Many times these homes have been cared for and are much better than a foreclosure.

Cypress Cay is a great community and if you have a chance at a short sale you may want to take advantage of the value.  I often see the good deals people receive on short sales and cannot argue with the numbers.  Take a look a and see if there are currently any short sales in Cypress Cay.  We are currently in a holding pattern with foreclosures so this may be the best route to a good deal.  Call us at the Dohack Group and allow us to work with you to find and purchase a short sale in Cypress Cay.

Information Provided by:

Brad Dohack
The Dohack Group of Absync Realty
p: 239-963-4811
f: 866-742-2132

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Licensed REALTOR® with Absync Realty

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