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Thursday, October 20, 2016

Brevard County, Florida Townhouse and Condo Market Report September 2016

Provided below is a quick recap of the Brevard County Townhouse/Condo market for September 2016 compared to September 2015:
  • Closed Sales are down -7.9% for September 2016 in which the number of units closed was 220 compared to 239 in September 2015, with a decrease in cash sales of -2.2% compared to September 2015.
  • New Pending Sales are up 13.4%.
  • New Listings are down -4.4%.
  • Median Sales Price for Townhomes/Condos is up 15.6% to $138,700 compared to a year ago, which was $120,000.
  • Months Supply of Inventory is up 6.2% to 3.4 months compared to 3.2 months in September 2015.
  • Traditional Sales are down -4.1% with a median sales price of $141,500.
  • Foreclosure/REO Sales are down -47.4% with a median sales price of $81,650.
  • Short Sale Closings are down -33.3% with a median sales price of $135,000.

Brevard County, Florida Residential Market Report September 2016

Provided below is a summary of the Brevard County single family home market for September 2016 compared to September 2015.
  • Closed Sales Just barely lower by 0.7% for September 2016 with 849 units closed  vs. 855 in September 2015.   There was a decrease in cash sales by -23.7%  this September.
  • New Pending Sales Increased  are up 4.3% in September 2016.
  • New Listings Increased 5.6% which is needed in this seller's market!
  • Median Sales Price for Brevard Single Family -  Climbed 15.9% to $197,100 compared to a year ago which was $170,000.
  • Months Supply of Inventory - Continued the current trend by going down -3.8% to 2.5 months vs 2.6 months last September. 
  • Traditional Sales -  Went up 8.2% with a median sales price of $200,000.
  • Foreclosure/REO Sales Decreased -60.2% with a median sales price of $141,000.
  • Short Sale Closings -  Also down -6.7% with a median sales price of $123,500.

Wednesday, October 19, 2016

Selling Your House - Dress for Success!

When a house goes in the market - even in a seller's market - there is a golden period.  This golden period is the initial first week or two when the new listing generates the most interest.  

In a seller's market a home that is priced reasonably well and presents well will likely get an offer - even if not accepted - during the first thirty days. 

If an offer is not received during the golden period consider whether the price violates the 30-10-1 rule (if a house does not have at least  ten showings and one offer (not necessarily accepted) in the first thirty days then the price may be a problem).

There are really only three Ps to selling a house... pricing, preparation and presentation.   The title of this post tells it like it is whether selling a house or going on a job interview....dress for success (preparation)!  

Getting a house ready for success is not that difficult....your real estate agent should be your number one resource! 
This blog has over 150 articles discussing home sellers and the process.  Here are ten articles that might just help if one is looking to sell their Melbourne, Florida home.

The above articles focus more on presentation than the actual process of selling your Brevard County, Florida home.   If you have questions regarding the process or want a free market analysis, call or text me at 321-693-3850.

Gary Waters (Waters Realty)  is a one person brokerage in central Brevard County providing personalized advice to customers one at a time

Tuesday, October 18, 2016

Home Buyer Tips: Some overlooked areas when shopping for a home....

The parts of a property that get the most attention with home buyers are kitchens and bathrooms.  After all, these spaces are pretty much going to be used the way they are unless additional remodel money is in the budget.  

And while these ares are key there are some other less glamorous areas that can get overlooked during the home shopping process.   

What are these areas?

In a nutshell...think storage. 
  • In the kitchen consider pantry size and location (I have seen a few homes recently that did not have a pantry at all and relied on kitchen cabinet storage). 
  • Consider the closet space.  While the master bedroom closets often get the first look consider the other bedrooms - especially if there are kids.  And while smaller children and smaller closets may be fine think long term!
  • Check out the garage completely.  What are the overall dimensions?   Is there shelving or room to install shelving later?  Is there attic storage?  How much space is available after the vehicles are placed in the garage?   If a buyer has a large pickup truck with extended cab, etc. then will the garage be long enough as well as tall enough?   Be especially mindful of three car garages...most don't hold three cars!    Inside parking is a requirement in some places.  For example, there are some developments here in the Viera and Suntree are that do not allow a car or truck outside at night.    I have had several deals go through only after the garage test! 
  • Lastly, consider the usable floor space.  While the room sizes may look good on paper consider the location of doors and angles.  How much space will be needed to open doors (thereby reducing usable floor space for furniture).  A tape measure can be a valuable tool when looking at homes.

While the general layout, presentation and "feel" may say "yes" buyers need to consider the less awe inquiring aspects of a house - like basic space.

Clothes Hanging on Rail in White Wardrobe Image courtesy of khongkitwiriyachan at

Thursday, October 13, 2016

Home Buyer Tips: Which comes first, lifestyle or house?

For some this is almost like the "Which came first the chicken or egg?" question.  However the answer is more dependent on the individual than anything else.

When I ask most prospective home-buyers about their desires the focus is almost always on the house.  This is great for me because it helps narrows the search.

However, there is more to the decision for most people than the usual size, age, price stuff.  

There are the lifestyle issues.  Of course, "lifestyle" covers so many characteristics.  

For some it could mean community characteristics (55+ community, gated golf course community, water front living, hobbies).   For others it could mean proximity to work, shopping, restaurants, places of worship.  

For commuters it may mean ease of access to major airports or major highways.  Still, for others it could be focused on school quality and colleges.   And then some like the freedom to do what they like (i.e. absence of association rules and fees).

Lifestyle encompasses almost all things including economics, habits, attitudes, tastes, etc. 

It is how one lives their life.

Ready to buy a home in Melbourne, Florida and the surrounding area (Cocoa Beach, Viera, etc.)?  Give me a call or text me at 321-693-3850.

Lets talk about the lifestyle you seek and the best place to buy that Florida home!

Image courtesy of kkojang at

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