In 2011, 23% of all residential sales on Pine Island were either a foreclosure or short sale.  Not a great number, but far better than 2010, when 33% of all Pine Island residential sales were either a short sale or foreclosure.  For the year 2011, 10% of all residential sales (23) were foreclosure sales, and 13% of all residential sales (30) were short sales.

As of early January 2012, 9 homes were offered for sale as foreclosures on Pine Island, and 23 homes were offered for sale as a shortsale.

A foreclosure is a property taken back by the lender (usually a bank) due to lack of payment by the previous owner. 

A short sale is a property that is offered for sale by the seller, for less than the amount of debt owed on the property.  Any lender (or lenders) must agree to all of the contract terms.  It can take weeks or months to hear back from lenders and learn if they will agree to the "short sale" price.   The longest time to close a short sale I had was 7 months.  The shortest time was about 30 days. 

I have represented a number of buyers of homes that have been either foreclosured on or short sales.  I have taken courses in successfully representing a short sale or foreclosure buyer, and become a "certified short sale and foreclosure resource".    

For a complete, free list of Pine Island, Florida short sales or foreclosed properties, please contact me, Erika Foye, Real Estate Broker of All Island Realty, at erikafoye@embarqmail.com.