6 out of 10 homebuyers in Kissimmee purchased a bank owned property

Through June 2009, 6 out of 10 homes purchased in Kissimmee were homes that were listed as bank owned. Homebuyers are selecting bank owned homes because of the competitive prices and faster turn around time when compared to purchasing a house subject to a short sale.

Sales of bank owned homes in the first 6 months of the year compared to the total number of sales for that month in Kissimmee are:

• January sold numbers included 159 bank owned out of 252 total sales - 63%
• February sold numbers included 159 banks owned out of 247 total sales - 64%
• March sold numbers included 243 bank owned out of 367 total sales - 66%
• April sold numbers included 241 bank owned out of 372 total sales - 64%
• May sold numbers included 263 bank owned out of 423 total sales - 62%
• June sold numbers included 275 bank owned out of 447 total sales - 61%

There are currently 375 bank owned property showing as having a pending contract and 263 properties showing as active.

NOTE: “Based on information from MFRMLS for the period (January 2009 through June 2009).”

Related Florida real estate views:

So what do banks know that traditional sellers do not?

Banks who own property often do not have written home disclosure forms