South Central Gulf Coast is slower but still fairly brisk. Most of our market is now dominated by short sales instead of REO.
We cover Sarasota and Charlotte Counties and Sarasota county has a significant reduction in foreclosures in August compared with a year ago. Charlotte County is still up year over year.
However, our last assignment was a short sale that had 2 active offers when it was foreclosed which could be an indicator that the short sales are not coming to fruition. But, I am seeing many short sales close now where it was fairly rare.
In the lower price ranges 90% are now short sales. It is actually getting hard to find good comps for REOs because we can not use short sales for active comps just for solds.
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