Gitta Urbainczyk P.A, Keller Heritage Realty located in greater Orlando area announces of the successful short sale real estate closing 1387 Shady Knolls Ct. Longwood, Fl. 32750

United States of America -- Free-Press-Release.com-- Feb 4, 2010 -- Orlando currently has 1,409 properties for sale, 7,638 are either in short sale and or bank owned. This amounts to 67% of the real estate inventory in the Orlando area is in financial distress. Short sales are an important part of getting the inventory off the market. Gitta’s Real Estate Team just announced the successful real estate short sale closing of 1387 Shady Knoll Ct., Longwood, Fl. 32750 in the OAKCREST subdivision. This is a 6 bedroom, 4.1 bathroom home with 3,342 sqft. built in 1996 and it sold for $355,000 and the process took a little over 5 months. Currently there are 620 homes and condos for sale in Longwood, 231 are short sales and the average price is $229,408 and the days on the market is 179 days. The highest priced short sale is located in Alaqua, 3008 Timpana Pt, Longwood, Fl. 327779 and it is priced at $1,375,000.

Gitta’s real estate team closed about 50 short sales over the past 15 months here in the greater Orlando area and is processing about 15 more, preventing sellers from having to go through foreclosure and reducing the impact on the credit for years to come. In a short sale situation you can buy a home in 2 years, whereas in a foreclosure it takes 5 to 7 years and the impact on your credit is more severe. A short sale is a process whereby a seller can sell a home which is upside down and the bank is accepting less for the home as to what the mortgage is. This way the home gets sold, it reduces the amount of foreclosures, gets normally a higher value compared to a foreclosure and also keeps the home and property maintained most of the time. The federal government is now exploring the short sale process to be streamlined and used as a preferred method over the traditional foreclosure. Gitta’s real estate team is a certified short sale specialist operating here in greater Orlando and has several short sale specialists on her team. The short sale process is very time consuming and very detailed and a professional negotiator can offer so much more in terms of getting the job done in less time and less frustration on the buyer and the seller. Gitta’s’ real estate team is serving Lake, Orange, Volusia, Seminole and Osceola County helping sellers to sell their homes without the burden of a foreclosure and the bad hits on credit and also keeping property values higher compared to the foreclosure process. The good thing is, there is no cost to the seller and it is a managed process and it keeps the seller’s dignity during some very troubled times and also provides for some closure to the process. Many lenders are not asking for an unsecured note to be signed and some show the note as paid in full, it depends on the lender and hopefully this process is getting streamlined Gitta says and as we are seeing an onslaught of more delinquencies due to the job market and falling real estate values a streamlines process will help to reduce the amount of inventory. If your home, condo, townhome is in foreclosure and if you want to explore the short sale process go to www.greaterorlandohomes.com/stop-foreclosure.html and look at the process as a way to get out under a upside down property.

About Gitta Urbainczyk PA, Gitta Urbainczyk has been selling real estate since 1988 in the greater Orlando area; she is an E-Pro, Short Sale Specialist, REO Specialist, Valuation Specialist and is selling homes for numerous banks and asset management companies. Based in Lake Mary, Gitta is the leading agent for Keller Williams Heritage Realty in the greater Orlando area and has closed about 2,000 sales transactions over the 22 year period. “Gitta’s Real Estate Team” is made up of 12 specialists, including buyer agents, 3 loss mitigators, a contract and closing manager, an office manager, marketing manager and an internet marketing team, Gitta’s Real Estate Team is located at 100 Waymont Court #110, Lake Mary, FL 32746. For more information call 407-330-2181 or go to www.greaterorlandohomes.com

Short sales while still a cumbersome process it has more benefits vs. a foreclosures. It helps the seller in terms of credit, the buyer to get a great deal, the community to maintain property values, upkeep of property and taxes and home owner association dues, the financial institution to get a higher value and far outweighs the other alternatives of a devastating foreclosure.

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Gitta Urbainczyk
http://www.greaterOrlandoHomes.com