Lindenhurst NY Short Sale Market Report 2008 - February 2011
As you can see from the chart, short sales started booming in 2009. More short sale homes in Lindenhurst NY closed in 2009. Meaning, 33 were listed then and 24 closed. Not a bad ratio.
But, with more job losses since then, the banks are flooded with short sale files on their desks and that is why I haven't seen a short sale home close in less than 90 days.
In 2010, 55 homes were listed as short sales in Lindenhurst NY and 30 closed. 30 is better than nothing.
For 2011, 14 short sale homes have come onto the market for Lindenhurst NY and so far seven have closed.
Currently, there are 64 short sale homes on the market in Lindenhurst NY. Listing prices range from $150,000 to $379,999. If you are looking to buy a short sale home, remember that short sale homes are priced at fair market value. There are no steals to be had unless the home is in dire straights condition-wise. I looked at all 64 listings and this is what I found:
2008 - There are still two short sale homes on the market. Six were listed and none sold. What happened to the other four? Foreclosure or loan modification.
2009 - 33 were listed and there are eight still on the market. 24 sold in 2009. Looks like one home went to foreclosure or they were able to do a loan modification.
2010 - 35 are still for sale and 30 closed. With 55 listed in 2010, looks like a good amount of homes went into foreclosure or maybe some did loan modifications and they were able to keep their homes.
If you are thinking of selling your Lindenhurst NY as a short sale, call me (631) 703-0201 so we can discuss the details and the paperwork that your bank will need.
Cell: (631) 703-0201
Office: (631) 226-5995 Ext. 242
Email: JackieC@century21aa.com
Website: www.longislandrealestatelady.com
Website: www.lindenhurstnyrealestate.com
Blog: http://jackieconnellyfornuff.com
Skype ID: LIRealEstateLady
