The Real Deal Miami

South Florida short sales take 501 days

November 01, 2011 11:25AM

Short sales in South Florida take an average of 501 days, according to
data from RealtyTrac, the Sun Sentinel reported. “Most buyers are
looking to buy within a six-month period,” said RealtyTrac spokesperson
Daren Blomquist. “If you see some places where it takes over a year,
it’s not an ideal situation for most buyers.” There were a total of
5,940 short sales in the tri-county area in the second quarter, a 15
percent increase month-over-month. The only area in Florida that was in
the top ten best short sales markets was Fort Myers. Los Angeles is the
best market, according to the report, with a total of 9,145 in the
second quarter. [Sun