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Monday, February 27, 2017

Plantation Point Subdivision in Rockledge, Florida - Homes For Sale February 2017

Plantation Point is one of Rockledge, Florida's most popular neighborhoods.  Located just off Barnes Boulevard (with easy access to major routes I-95 and US1), Plantation Point offers larger, newer homes in a location very convenient to  shopping, restaurants and several golf courses. major routes (US 1 and I-95).

Nearby medical facilities are plentiful with Wuesthoff Hospital in Rockledge and Viera Hospital both nearby as well as medical offices. 
Many major employers are within a short drive as well as the beaches and Orlando.  Association fees are less than many of the other newer neighborhoods as there is no community pool or clubhouse. 

What is currently for sale in Plantation Point?

Currently there are three active listings in Plantation Point. List prices for these listings range from $279,000 to $399,900 (other listing is $399,000). Two of these listings offer just under 2,000 square feet living area, the other just under 2,900 sq.ft. 

By the way I will have a new listing in Plantation Point that will be on the market in about two to three weeks (4 bedroom 3.5 bath pool home with about 3,200 sq.ft.).  List price should be in the low $400,000 range.

Email me if you are looking for a home in Plantation Point.

What has recently sold in Plantation Point?

Homes don't come on the market in Plantation Point that frequently (recent inventory in Brevard County market has been tight) so these sales occurred about seven or eight months ago.  

The most recent sales in Plantation Point (as reported in the Brevard MLS system) included:
  • 438 Wynfield Circle - 4 bedroom 3 bath 3 car garage pool with 2,507 sq.ft. under air home located on a pond sold for $425,000
  • 3990 Waterford Drive - 2,256 sq.ft. 4 bedroom 3 bath 2 car garage pool home sold for $347,000
  • 320 Pebble Hill Way - 5 bedroom 3 bath 2 car garage two story home with 2,692 sq.ft.  sold for $293,000.   
For information homes for sale in Plantation Point and other Rockledge, Florida areas, call or text me at 321-693-3850.

Saturday, February 25, 2017

Heritage Isle in Viera, Florida - Florida 55+ Community Market Activity February 2017

The 55+ gated community of Heritage Isle located in Viera (Melbourne, Florida) offers residents several choices of property style including condos, townhouses and single family detached houses. 

Presented below is a snapshot of the Heritage Isle real estate market as of today, February 25, 2017.

What is currently for sale in Heritage Isle?

Currently there are seventeen homes for sale in Heritage Isle.  Listing prices range from $259,900 to $414,900.   There is only one home priced over $400,000.  All of the homes for sale in Heritage Isle are standard sales.

Eight of the current listings in Heritage Isle are priced below the $300,000 mark.   All of these homes are three bedroom two bath two car garage homes built mostly in the 2005/2006 period.

What has recently sold in Heritage Isle?

Over the past six months there have been thirty five homes sold in Heritage Isle as reported in the Brevard MLS system.  Selling prices ranged from $216,000 to $445,000.  

Since February 1, 2017 there have been seven homes sold in Heritage Isle.  These recent sales ranged from $244,400 to $405,000.  Average selling price was just over $317,000.

A couple of the most recent sales included:
  • 6933 Premonition Drive - Standard sale, built in 2006, 2 bedroom 2 bath 2 car garage with 1,896 sq.ft. sold for $252,000
  • 7152 Rossi Way - Standard sale, built in 2006, 3 bedroom 2 bath 2 car garage with 2,015 sq.ft. sold for $255,000.
There were two other sales this week.  Both were new construction and sold for $383,000 and $405,000.  By the way, Heritage Isle is pretty much built out so anyone interested in a home in Heritage Isle will need to shop re-sales.

Read more about these three age restricted communities in central Brevard County, Florida  as well as about the differences between the 55+ communities of Viera

For information on homes for sale in Viera, Florida, call or text me at 321-693-3850.

Home Seller Tips: Should a Seller Price Home High and Negotiate Down Later?

Whether buyer or seller, it is always about price.   Any house will sell if you price it properly.   What does it mean to price a house properly?

What does it mean to not price a house properly?    Pricing a house properly should not be solely (if at all) based on things like...
  • what a seller paid originally plus a "profit."  
  • a neighbor's house that is "exactly like mine."  
  • Uncle Joe's advice or Felicia the office know-it-all.
What does it mean to price a house properly?

Most importantly consider the location, condition and competition.

Secondly, consider the circumstances of the sale.  This includes the type of sale (short sale, investment flip, estate sale, etc.).  

Consider the timeline.   Is there a need for a quick turn around?   Does a job transfer or school schedules necessitate a condensed process?   If the new home purchase is not contingent on a sale then pressure is lessened.

How can a seller know if a house is not priced properly?

Consider my 30-10-1 rule.  Simply put this means a house that is on the market for 30 days should have at least 10 showings during that time and at least one offer.   If the activity during the initial thirty days is short of that metric look at price.

Another metric I urge prospective Viera, Florida home sellers to consider - the golden period

What is the golden period?   The golden period is the initial 14-21 days when a new listing generates the most activity.   Of course if the price is right, in a market such as the Brevard County market, the property may be under contract with just a few days exposure! 

Can a seller price high and negotiate down?  That is a possible strategy.  But why?  A higher list price may mean fewer showings and a longer time before any offers arrive (if any).

I advise sellers to entice an offer by listing with an attractive price on day one.   But what happens if an offer comes in at a lower list price?  No seller is compelled to sell regardless of list price.  

Let me repeat that pricing fact:  Regardless of list price a seller does not have to accept any offer.  As opposed to the question in the title why not price lower and negotiate upward sooner?

The key to selling is having the right real estate professional put together the necessary market analysis and marketing plan, advise on preparation, timing and then, working with the seller, execute the plan. 

So while any house will sell it must be remembered that the market will set the price - not necessarily the seller.   Value is in the eyes of the buyer!

Thinking about selling your Viera, Florida home?  Call or text me at 321-693-3850.  Let me prepare a market analysis this week!

Ready to buy a home in Viera, Florida?  Let me help you.  I have been specializing in the central Brevard areas of Viera, Suntree and Rockledge for fourteen years!

Wednesday, February 22, 2017

Brevard County, Florida Residential Real Estate Market Report for January 2017

A quick recap of the Brevard County Residential Report for January 2017 compared to January 2016 - inventory down, prices higher.  

Details include....
  • Closed Sales are up 2.7% for January 2017 in which the number of units closed was 600 compared to 584 in January 2016, with a decrease in cash sales of -17.9% compared to January 2016.
  • New Pending Sales are up 5.6% and New Listings are up 16%.
  • The Median Sales Price for Brevard Single Family Homes is up 18.2% to $195,000 compared to a year ago, which was $164,950.
  • Months Supply of Inventory is down -10.3% at 2.6 months compared to 2.9 months in January 2016.
  • Traditional Sales are up 12.4%, with a median sales price of $200,000.
  • Foreclosure/REO Sales are down -43%, with a median sales price of $128,800.
  • Short Sale Closings are down -73.3%, with a median sales price of $285,500. 
Want to buy or sell a house in Brevard County (Melbourne, Florida)?  Call or text me at 321-693-3850.

Brevard County, Florida Condominium Sales Report For January 2017

Provided below is a summary recap of the Brevard County Townhouses/Condos for January 2017 compared to January 2016:
  • Closed Sales are up 24.8% for January 2017 with 186 units closed compared to 149 in January 2016, with a increase in cash sales of 40.7% compared to January 2016.
  • New Pending Sales are up 15.3%.
  • New Listings are down -5.6%.
  • Median Sales Price for Townhomes/Condos is up 4.8% to $143,000 compared to a year ago, which was $136,500.
  • Months Supply of Inventory is down -5% to 3.8 months compared to 4 months in January 2016.
  • Traditional Sales are up 31.6%, with a median sales price of $144,000.
  • Foreclosure/REO Sales are down -41.7%, with a median sales price of $95,000.
  • Short Sale Closings are down -100%. Year-over-year data is not available as there were no sales in January 2017. The January 2016 median short sale sales price was $62,000.
Ready to buy a condo in Florida?  Call or text me at 321-693-3850.

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