Short sales help make home buying a reality
Three years ago, home ownership for Stephen and Cassie Treap seemed as likely as winning the Florida Lotto, because home prices were far above what the family of four could afford.
It’s getting more difficult to remember, but it was only three years ago this month that the median price of a single-family home in Brevard County reached its apex at $248,700. The median price — the point at which half the homes sell for more, half for less — now stands at $166,400.
While not good for some sellers, the Treaps this June bought a 1,746-square-foot, three-bedroom home in Palm Bay for $121,900 in a foreclosure transaction. Nearly three years earlier, the same property sold for $215,400.