Wellington Florida Short Sales have been common place throughout South Florida for several years now and currently make-up 17% of the Wellington Florida real estate market, is a 1% decrease since last month.
While most real estate agents in Wellington Florida were entering an uncharted territory with short sales most are now more than familiar with what a short sale is and how the process works, but there are still some agents who won't work with short sale buyers or short sale sellers.
There are currently 115 Wellington Short Sales for Sale, which make up 17% of the total homes for sale in Wellington Florida. A total of 185 Wellington Short Sales are Under Contract accounting for 56% of the market share, which is 1% more than last month. Only 20 Wellington Short Sales Sold in July, which is a 1% drop from the previous month.
The highest asking price for a Wellington Short Sale right now is 1,895,000 million and the lowest priced Wellington Short Sale is $49,000. A majority of the short sales for sale in Wellington have a list price of $200,001 to $300,000, but the 100,001-$200,000 price ranging is catching up.
When it comes to Wellington Florida Short Sales based on absorption rate it's currently a STABLE Market almost boarding on a sellers market, but is it really? Often times Wellington short sale agents will keep their listings "ACTIVE" in the mls even though they have an executed contract submitted to the sellers lender for approval. Some of these short sale agents do it because they are interested in receiving back up offers while other times the Wellington short sale agent just didn't get around to changing the status.
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Information provided by RMLS on August 14, 2011 and deemed reliable, but not guaranteed. Originally posted at http://wellingtonfloridashortsale.com/wellington-fl-short-sale-market-report-august-2011/