(954) 547.4601

Rathe.S@EWM.com

During the first half of 2011 Sunset Lakes had 43 single family homes and 5 townhomes sell through the MLS system. This is on track with the number of homes that were sold in 2010. The more shocking information is the mix of types of sales. During 2010 we saw regular sales accounting for the majority of all single family home transactions at 44%. For the first 6 months of 2011 we have seen the percentage of regular sales drop significantly down to just 37%. Short sales have remained fairly steady with just a slight drop from 34% last year to 33% so far this year. The more dramatic change is in the increase in foreclosures from 22% last year to 30% this year. Despite our efforts to help homeowners save their credit and take financial responsibility by doing a short sale, we are seeing an increase in people just walking away from their homes. The short sale really is a much better option for the owner, the bank, and the community. If you want more information about doing a short sale contact me at your earliest convenience. Unfortunately we have hundreds of homes in Sunset Lakes that are in some stage of foreclosure. Even if foreclosure proceedings have begun, its not too late to do a short sale. The vast number of foreclosures will continue to put downward pressure on our prices until we can eliminate the majority of them. If you know someone in financial distress please encourage them to call me and I will do my best to help them.