While there is no official definition of a bank approved short sale, we generally define them as follows:

A property is casually said to be approved once a previous buyer has already made an offer and the seller’s lender came back accepting or rejecting that offer at a particular price.

Here is the common dilemma: You, as the buyer, are the first to make an offer on a short sale. The seller accepts your offer, and then it’s submitted to their lender. You wait … and wait … and wait. And after what seems like forever, the lender comes back saying that they want more money.

For example, the property is listed at $100,000. You offer $95,000. The seller accepts and submits to lender. Lender comes back and wants $105,000. You walk away from the deal.

Now a new buyer comes along and sees the property is “Back on Market” at $105,000. The notes say “bank approved short sale!” and we infer this to mean that a previous buyer was the guinea pig.

While it doesn’t mean that the lender is going to be fast at re-approving you as the new buyer, we can reasonably assume that the lender will probably accept your offer if you give them what they’re looking for (or really, really close to it).

Are you considering purchasing a property in Port St Lucie?
Do you have more questions about short sales?
Give me a call directly at 772-485-3214 or contact me by clicking this link and fill out a request.

Have you made an offer on a short sale before? What has been your experience – post your thoughts below.

• Club Med Sandpiper
  4500 SE Pine Valley St, Port St Lucie
  772-337-6638 | www.ClubMed.com
  Holes: 18 | Par: 72 | Yardage: 6848
  Rental Clubs: Y | Allow Walking: Y | GPS System: N

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• Fairwinds Golf Course
  4400 Fairwind Dr, Fort Pierce
  772-462-2722 | www.stlucieco.gov/fairwinds
  Holes: 18 | Par: 72 | Yardage: 6783
  Rental Clubs: Y | Allow Walking: Y | GPS System: N

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• Gator Trace Golf & Country Club
  4302 Gator Trace Dr, Fort Pierce
  772-464-0407 | www.gatortracecountryclub.com
  Holes: 18 | Par: 70 | Yardage: 6136
  Rental Clubs: Y | Allow Walking:  N | GPS System: N

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• Indian Hills Golf Course
  1600 S 3rd St, Fort Pierce
  772-461-9620
  Holes: 18 | Par: 72 | Yardage: 6555
  Rental Clubs: Y | Allow Walking: Y | GPS System: N

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• Island Pines Golf Club
  5700 Indian Pines Blvd, Fort Pierce
  772-464-7018
  Holes: 18 | Par: 71 | Yardage: 6440
  Rental Clubs: Y | Allow Walking: Y | GPS System: N

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• Meadowood Golf and Tennis Club
  9425 Meadowood Dr, Port St Lucie
  772-466-4000 | www.meadowoodgolfandtennis.com
  Holes: 18 | Par: 72 | Yardage: 6808
  Rental Clubs: Y | Allow Walking: N | GPS System: Y

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• PGA Golf Club at PGA Village
  1916 Perfect Dr, Port St Lucie
  772-467-1300 | www.pgavillage.com
  Wanamaker Course
  Holes: 18 | Par: 72 | Yardage: 6164
  Rental Clubs: Y | Allow Walking: N | GPS System: Y
  Ryder Course
  Holes: 18 | Par: 72 | Yardage: 6144
  Rental Clubs: Y | Allow Walking: N | GPS System: Y
  Dye Course
  Holes: 18 | Par: 72 | Yardage: 6250
  Rental Clubs: Y | Allow Walking: N | GPS System: Y

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• Savanna Golf Club
  3490 Crabapple Dr, Port St Lucie
  772-879-1316
  Holes: 18 | Par: 61 | Yardage: 3792
  Rental Clubs: Y | Allow Walking: Y | GPS System: N

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• St. James Golf Club
  5613 NW Saint James Blvd, Port St Lucie
  772-336-4653 | www.stjamesgolfclub.net
  Holes: 18 | Par: 72 | Yardage: 6838
  Rental Clubs: Y | Allow Walking: Y | GPS System: N

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• The Saints at Port St Lucie Golf Course
  2601 SE Morningside Blvd, Port St Lucie
  772-398-2901 | www.cityofpsl.com/golf
  Holes: 18 | Par: 72 | Yardage: 6478
  Rental Clubs: Y | Allow Walking: Y | GPS System: Y

Source of information from the 2010  St Lucie County Golf Guide publication.
Photo Credit: Flickr

Looking for a golf course home?
Click Here to Start your search or contact Sarah Taylor at 772-485-3214.

This blog post will attempt to make sense of the different geographical areas within our city and county.

Here is a breakdown to start:

St Lucie is the County which is generally comprised of Port St Lucie, the city, and Fort Pierce, the city.

St Lucie West is a master-planned community within Port St Lucie, the city.
What does the term master-planned community mean and how does it differ from a subdivision?  A master-planned community, like St Lucie West or the Town of Tradition, encompasses not only the housing plats but also the recreational parks and commerical spaces. Even things like the lakes, sidewalks, and golf courses could be included in the master plan. Generally a master planned community will cover an enormous amount of land area and offer the conveniences of amenities right there within the community.

Now that we’ve nailed down the differences of our St Lucie names, let’s look at them visually.

This is a map I created with Google to help show the breakdown of the county and city. Please note that the county and city lines are not correct, but are more for a visual overview.
Click on the shaded shapes or read below for more information.

View Making Sense of St Lucie in a larger map

The pink is St Lucie County, the green is the City of Port St Lucie, and the purple is St Lucie West.

Would you like to know more about these areas? Click the links for resources and information:

• The Town of Tradition
• St Lucie West
• Buying a home in Port St Lucie
• Start your own Home Search

Of course, if you have a question you can always call me directly at 772-485-3214 or fill out this contact form.

So what do the sales* look like for the first half of 2010? As compared to this time last year, prices and sales have remained steady and stable.

First half of 2010

Number of sales: 53
Average Sales Price Per Square Foot = $61.12
Median Sales Price Per Square Foot = $57.50
Average Sales Price = $115,270
Median Sales Price = $102,500
Average Days on Market = 117
Median Days on Market = 77

As compared to 2009 (first half of year)

Number of sales: 67
Average Sales Price Per Square Foot = $61.31
Median Sales Price Per Square Foot = $57.82
Average Sales Price = $116,522
Median Sales Price = $105,000
Average Days on Market = 123
Median Days on Market = 104

Le’ts compare this to the rest of Port St Lucie’s other non-HOA neighborhoods. The average sales price per square foot is $56.57 as compared to Southbend’s $61.12. Not a major difference but somewhat noticeable.

Are you considering buying or selling in Southbend? Let’s chat.
As all buyer’s have heard: right now is a buyer’s market but as some sellers may not realize, if your property is priced strategically and with the right agent, you may end up getting multiple offers on your listing.

You can call me directly at 772-485-3214 or fill out this contact form and let me know what you’re considering.
Even if you think you may owe more than the home is worth, it’s always helpful to get a professional opinion on your property and situation.

Check out more info & photos about Southbend

Start your own search

Information for Sellers

*Sale criteria search was as follows:
6 month range – 12/20/2009 to 06/20/2010
Geo area included neighborhoods south of PSL blvd, east of the Turnpike, west of the N fork of St Lucie River, and north of Tesoro (and Becker Road).
Information obtained from Regional MLS.

Photo Slideshow: