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Friday, December 02, 2016

Florida 55+ Communties: Grand Isle in Viera, Florida - Market Report December 2016

There are three 55+ communities in Viera, Florida.  One of these, Indian River Colony Club, is totally unique in that it is a maintenance free community.

The other two communities are more similar.  These communities- Heritage Isle and Grand Isle - were both developed by Lennar Builders.  Still, there are some differences.

For instance Grand Isle is smaller and the residents own their own clubhouse and facilities.  Grand Isle is gated however the gates at Heritage Isle are staffed 24 hours a day.   Grand Isle is a little older with the development being from the early 200s through about 2005.  There are other differences...ask me!

Here are some additional articles on the 55+ communities in Viera.
My blogs have at least a hundred articles about the 55+ communities in Viera.  Many are market reports while others provide general information. Because these articles were produced over the past 8 to 10 years I recommend interested persons contact me directly for the latest information.

Here is a market update for Grand Isle as December 2, 2016.

What is for sale in Grand Isle?

Currently there are seven homes for sale in Grand Isle.  Listing prices range from  $249,900 to $335,000.  

As wide as the prices range so are the sizes with homes varying from just over 1,500 sq. ft, under air to almost 2,500 sq.ft. Most are 3 bedroom 2 bath 2 car garage homes.   All of these homes are standard sales and were built between 200 and 2004.

What has recently sold in Grand Isle at Viera?

Over the previous six months there have been seven properties sold in Grand Isle.  Selling prices for these ranged from $199,000 to $330,000.

More recent sales, since October 1, 2016, included:
  • 1564 Boca Rio Drive - 3 bedroom 2 bath 2 car garage home built in 2004 offering 2,011 sq.ft. sold for $287,000.
  • 1371 Lago Mar Drive - 2,032 sq.ft. 3 bedroom 2 bath 2 car garage home built in 2003 sold for $260,000.
  • 1557 Grand Isle Blvd - With 2,271 sq.ft. under air, this 2004 built 4 bedroom 3 bath 3 car garage home sold for $330,000.
For information on homes for sale in Grand Isle, Indian River Colony Club and Heritage Isle in Viera, call or text me at 321-693-3850.

Thursday, December 01, 2016

Home Seller Tips: Florida Real Estate Commissions and Fees

This discussion of real estate fees is important because fees are often the largest expense when selling a home in Florida.

Many folks have an image of real estate agents driving big, nice, new cars; dressing nice; going out to lunch every day, plenty of free time on the golf course or beach, and making lots of money.  But that would definitely be the exception.  

Most agents work hard, often 7 days a week, eat lunch in the office or on the run in an older car, and juggle multiple schedules and make about $25,000 a year.  That $25,000 comes from fees charged to clients (most often the seller).

Quite often on listing appointments the discussion of will turn to how much a prospective listing real estate agent charges.   This is an important question because it is likely the highest seller cost when selling real estate. 

Here in Brevard County, Florida there are some basic (unwritten) rules about real estate agent commissions.   First, a couple of basic fee truths:
  • There is no standard real estate fee
  • Real estate commissions are negotiable.  Sellers typically pay the buyer's real estate agent (as well as their own).
  • The total fee charged is usually split 50/50 between the listing office and buyer office. 
Real estate agents are almost all independent contractors with overhead expenses and no salary.  Real estate agents get paid when property sells - not gets listed.

Because selling is more than just putting a sign out front it is important sellers understand the marketing process is labor intensive and with cost.

More importantly, sellers should understand the need to pay another agent  because the likelihood of another agent bringing the buyer is high.   For example, here in Brevard County there are about 4,000 real estate agents.  Basically there are 3,999 more opportunities for a buyer to be obtained by others.

And that buyer's agent will need to be paid by the fee split.

I recently was asked by a seller "How much of the fee will the buyer's agent get?" 

My all depends.

Most real estate agents are independent contractors who work on a commission split with their employing broker. 

For example, lets say the seller is paying the buyer side .025% on a $200,000 sale.

.025% times $200,000 is $5,000.   

Seems like a lot of money for the buyer's agent!  But, if the agent is on a 75/25 split with their broker the $5,000 becomes $3,750.  Still looks good, right?

But agents, as independent contractors, now must pay their own social security/medicare/self employment/income taxes. While these vary from individually, suffice it to say a conservative figure would be 35-40% of earnings.  $3,750 is now about $2,250.  Still, not bad right?

But think about the expenses and overhead an agent covers... car, gas, insurance, multiple listing fees, state, local and nation Realtor Association dues (must pay in order to use/advertise in MLS system), etc.  Just a shot in the dark estimate o $500-$750 a month for these and then the $2,250 is now $1,500.

If an agent closes one transaction a month that becomes $18,000 a year.  But it is not that gloomy.  The latest I have read is the average real estate agent makes about $25,000 a year.

So, sellers, when paying the buyer's agent, don't complain.  You are really getting a lot of work for your money!

My opinion... if any agent is going to get less, it should be the seller's agent.  

But then, fees are negotiable.
If you are considering selling your Viera or Melbourne, Florida home, give me a call at 321-693-3850. 

Rockledge, Florida Home For Lease - 3BR 2BA 2 CAR GARAGE $1,350

Available now!  This move in ready Rockledge home for $1,350 a month, one year lease!

Three bedrooms two bath two car garage concrete block stucco home in the centrally located Three Meadows development.   Built in 1995, this smoke free home is in great condition and is located near excellent schools, shopping, several golf courses. 

With beaches, Patrick Air Force Base, Kennedy Space Center as well as major Melbourne employers within easy commute, this home will not last.

Open floor plan with 1,320 sq.ft. under air.  The enclosed, tile back porch easily cooled as well!

Features gas heat and water heater.  Sprinkler system on well water.   Carpet in bedrooms, laminate in living room and dining area.  Tile kitchen and baths.   Quiet city street, sidewalks and more!


Send me a text or call 321-693-3850 for more information.

Wednesday, November 30, 2016

Selling Your Home - Stand Out - Be Noticed!

Sellers must do only one thing to get a buyer for their home.   Here is it in a nutshell...stand out - be noticed - be remembered.

The key is to make sure you stand out for the right reason such as
  • attractive price (not the same as lowest
  • value offered (not the same as lowest price) 
  • tastefully presented 
  • nice curb appeal 
  • inviting entrance
There are some wrong ways to stand out such as...?
  • unappealing exterior/poor landscaping 
  • poor paint choices
  • too much clutter for the space 
  • dirty (if you can smell it, can't sell it) 
  • pets jumping all over prospects trying to see the home
  • highly personalized paint/wallpaper (think neutral)
  • unbelievable price (as in what were they thing?) 
  • 1960s wallpaper or appliances!
To sell your Brevard County home, whether located in Wyndham at Duran in Viera or Chelsea Park in Rockledge, it must stand out in the mind of a prospect when they pull into your driveway and be remembered after they walk out the front door.

Remembered for the right reason, of course!

For information on homes for sale at Viera and Melbourne, Florida, please give me a call or text at 321-693-3850.

Indian River Colony Club (IRCC), Melbourne, Florida Market Update November 2016

Indian River Colony Club is located in the planned unit development of Viera north of Melbourne, Florida within minutes of the Atlantic Ocean! 

Located in the Space Coast area of Brevard County, Florida,  IRCC is convenient to shopping at The Avenues Viera, multiple medical facilities including Viera Hospital and the VA Clinic in Viera, and Patrick Air Force Base (for commissary, exchange, pharmacy, golf, etc on base).   Want to take in mother nature?  The Brevard Zoo is nearby as is the Viera Wetlands.

Indian River Colony Club is only about 45 minutes from Orlando International Airport and those world famous theme parks!

What is for sale in Indian River Colony Club? 

Currently there are twenty four active listings in the exclusive maintenance free community of Indian River Colony Club.  List prices range from $125,000 to $264,900. Homes range in size from just under 1,200 sq.ft. to almost 2,400 sq.ft. under air.

Most of the homes for sale in IRCC were built between 1988 and 1990 (15 listings).  The newest home for sale within IRCC was built in 1998.

While these homes appear to be old that is not always the case.  Please read "Older Doesn't Always Describe the Homes at Indian River Colony Club."

Twenty three of the homes for sale are standard sales (one short sale).

What has recently sold at Indian River Colony Club?

Over the past six months there have been twenty four closings at Indian River Colony Club.  Selling prices ranged from $115,000 to $245,000.  Among these sales was one foreclosure.

More recent sales (from October 1, 2016) included six properties with selling prices from $140,000 to $214,000.  Average selling price of these properties was just below $185,000.

The most recent sale was 1073 Ironsides Avenue which sold for $200,000 on November 17, 2016. This 1989 built property was a 2,006 sq.ft. four bedroom two bath three car garage home with golf course view. Other details: monthly fees $954; updated kitchen, original list price $219,000, days on market 48 days.

Call or text me at 321-693-3850 for more information on Indian River Colony Club as well as the other  55+ communities in Florida.

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