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Wednesday, November 25, 2015

Home Buyer Tips: Be Patient. Be Impatient.

When buying a home patience is a much needed behavior as long as one knows when to be patient and when not.

In a real estate market like the Brevard County, Florida residential market in November 2015, sellers have the advantage.

Within reason sellers can often price optimistically because most other sellers seem to be pricing optimistically as well.  Of course, it is ultimately up to the buyer to make an offer.

The challenge for buyers is when the house they really want shows up on the market but the price is a bit optimistic.  That is the nature of the current market.

Buyers must understand the market will either
  1. bring an offer at the optimistic price, 
  2. convince the seller to negotiate a lower price, 
  3. motivate the seller to withdraw the listing from the market.
The challenge for buyers is balancing their needs and wants with a price that is acceptable.

If that involves waiting in hopes the seller will be convinced to lower the price then the risk must be understood.  An offer may come in and your search will be back on.

But if the house is really the one that fits your needs, wants and budget, listen to your real estate agent.

Look at the comparables with an understanding of the market (prices are rising).   Then, with decision made, go forward with haste if an offer is in the works.

But, if the total package (price and terms) is not acceptable, be patient!

The key is be patient when necessary, impatient when required and, unemotional always - until closing.   Emotions can cause a bad decision.

Sellers must be careful to not overestimate their position of advantage.   A house that lingers on the market for too long is often perceived to have problems.

Here are a few articles sellers may find helpful.
Ready to sell your Viera, Florida home?  I can help!  Please call or text me at 321-693-3850.

Tuesday, November 24, 2015

Real Estate 101: Denying the Real Market Does Not Change the Real Estate Market.

Buying and selling a house is about one thing - expectations.  Buyers have expectations.  Sellers have expectations.

When they meet, deal done!  But sometimes that is easier said.

Whether working with buyers or sellers, as a Melbourne, Florida real estate agent, I must bring expectations into a reality focus.

A couple of weeks ago I met with a home owner who thought his home was worth "at least $800,000."   This seller had put a couple of hundred thousand dollars in updates at some time over the past few years.

This owner's expectation of value illustrates a common view among owners.  That is, their home is the absolute best in the neighborhood and the price should recognize the differences.   

Then recently I was working with buyers who seemed to think all list prices were high.  Indeed there are some over priced homes on the Brevard County market as it does favor sellers right now.

Every house is different.  Every seller is different.  Every situation is different.  Some sellers price to sell now.  Some price to sit.  Some sellers are motivated.  Some sellers can wait. Some buyers are tire kickers. Some buyers are ready to jump.

This morning I heard a commercial on the radio that started out with  "Do you think you are fat?  It could be you are just bloated."

I have no clue what they were selling but it reminded of buyers and sellers at times who are in denial of the real real estate market.   Sellers should remember the ultimate price they receive will reflect condition, location, competition and circumstances of the sale.  Buyers likewise should remember the same.

A local knowledgeable real estate agent will keep buyers and sellers focused on the real market and not some misconception garnered from dated information on the Internet or personal bias.

If you are thinking about selling your Melbourne, Florida home take a look at these eight articles and then give me a call (or text) at 321-693-3850 or send me an email if I can help you in any way.
If you are thinking about buying a  Melbourne or Viera, Florida home give me a call (or text) at 321-693-3850 or send me an email.

Monday, November 23, 2015

Brevard County, Florida Residential Real Estate Market - October 2015 vs. October 2014

The below recap of the Brevard County, Florida residential market (single family detached homes) for October 2015 compared to October 2014 is provided by Space Coast Realtors.

  • Closed Sales are down -10.3% for October 2015  with 763 units closed  compared to 851 closings in October 2014.  
  • Cash Sales decreased by -29.6% compared to October 2014.
  • New Pending Sales increased 44.7%.
  • New Listings saw a slight increase of 3.8% above the October 2014 new listings.
  • Median Sales Price for Brevard County single family homes climbed 15.4% to $165,000 over October 2014's $143,000.
  • Months Supply of Inventory decreased -3.7% to 2.9 months vs. 3.0 months in October 2014
  • Traditional Sales are up 5.7% with a median sales price of $175,000.
  • Foreclosure/REO Sales are down -53.5% with a median sales price of $125,000.
  • Short Sale Closing are down -45.9% with a median sales price of $113,625.
For information on buying a home in Brevard County, Florida (Melbourne , Viera and Rockledge), please call or text me at 321-693-3850.

Brevard County, Florida Condo Market - October 2015 vs. October 2014

The Brevard County, Florida townhouse and condo market in October 2015 compared to October 2014 as provided by Space Coast Realtors:

  • Closed Sales - Barely higher (0.9%) for October 2015 with 213 units closed compared to 211 in October 2014.
  • Cash Sales  -  Decreased 10% over 2014 cash closings for townhouses and condos.
  • New Pending Sales - Up 60.1%.
  • New Listings - Down -1.6%.
  • Median Sales Price for Townhomes/Condos -  Up 6.2% to $138,000 compared to a year ago, which was $130,000.
  • Months Supply of Inventory - Down -11.3% to 3.3 months vs. 3.8 months in October 2014.
  • Traditional Sales -  Up 10.8% with a median sales price of $144,000.
  • Foreclosure/REO Sales -  Down -26.3% with a median sales price of $100,000.
  • Short Sale Closing - Down -85.7% with a median sales price of $52,000.

Monday, November 16, 2015

Chelsea Park in Rockledge, Florida - Market Update - Homes For Sale

Chelsea Park subdivision in Rockledge Florida offers homeowners deed restricted living in a centrally located development near everything.  Chelsea Park's relatively low association fees, amenities (community park with outdoor basketball/playground), proximity to several golf courses and shopping keep the homes in demand. 

Typical Look Chelsea Park
Located very close to I-95 and US1, commuting from Chelsea Park to Melbourne,  Kennedy Space Center, Patrick Air Force Base or the beaches is very easy.    Orlando and the attractions are also less than an hour away.

Children living in Chelsea Park attend Manatee Elementary in Viera, McNair Middle School and Rockledge High School (verify school boundaries here). 

Currently there are six homes for sale in Chelsea Park. 

List prices range from $259,000 to $315,000 for these current listings.   Four of these homes for sale are priced in the $259,000 to $269,900 range.   All six homes are standard sales with the year of construction spanning 1997 to 2016 (new construction).  

The homes all offer larger floor plans with most 2,300 to 2,700 sq.ft. under air conditioning.  Three have three car garages as well.  Pools are less common with only two of these homes having an in-ground pool (no community pool).   There are another three homes under contract awaiting closing.

There were no closings within Chelsea Park during the month of October 2015.  The last three sales occurred in September 2015.

Homes sold included:
  • 320 Brookcrest Circle - 2002 built 2,108 sq.ft. four bedroom two bath with three car garage and pool sold for $290,000 (09/08/15)
  • 427 Heathrow Circle - 1997 built 2,671 sq.ft. two story  four bedroom two and a half bath pool home which sold as a short sale for $225,000 (09/09/15).
  • 462 Stonehenge Circle - 2001 built five bedroom four bathroom pool home with 3,483 sq.ft. sold for $350,000 (09/01/15).
agent@moving2brevard.comFor information on homes for sale in Chelsea Park and Rockledge, Florida, call or text me at 321-693-3850 or send me an email

This is a great time to sell your Chelsea Park home as well.

Thursday, November 12, 2015

Wyndham at Duran - Highest Priced Homes For Sale in Viera, Florida - Market Update November 2015

Stock Wyndham at Duran Photo
There are eight homes for sale in the Viera and Suntree areas of Melbourne, Florida priced at $900,000 and higher.  Of these, six are in the Wyndham at Duran development.

Wyndham at Duran provides direct Duran Golf Course living for the most demanding home owner.   

Wyndham at Duran is an exclusive, guarded, development convenient to shopping areas, medical facilities including Viera Hospital, and major routes (I-95, US 1).   Orlando International Airport  is only 45 minutes away,  and the attractions about an hour.  The community is only minutes from The Avenue at Viera shopping, the Duran Golf Course clubhouse as well as art and cultural venues

Currently there are six homes for sale in Wyndham at Duran.   List prices for these executive homes range from $998,500 to $1,399,500.   While list prices are among the highest in the Viera, Florida area, similar properties can be found in the gated Summer Lakes community.  

Fairway Lakes at Viera Home
If a home on Duran Golf Course is desired (with a smaller budget) the neighboring gated community of Fairway Lakes at Viera  offers homes in the $500,000 to 650,000 range (current listings).

Most of these homes were built in the 2007 and 2008 period.  The smallest of these homes for sale in Wyndham at Duran is only 3,922 square feet with four bedrooms four bathrooms and a pool.  The largest, although not the highest priced, is 6,100 square foot.

Over the past six months there have been four homes sold in Wyndham at Duran.   These sales reported in the Brevard MLS system included:
  • 7536 Gorda Peak Court - 2008 Arthur Rutenberg built 3,254 sq.ft. four bedroom three bath three car garage pool home sold for $675,000 (08/03/15).
  • 7357 Gorda Peak Court - 2007 Arthur Rutenberg built 3,661 sq.ft. four bedroom three bath three car garage pool home sold for $849,000 (05/15/15).
  • 2809 Wyndham Way - A 5,824 sq.ft. 2007 built five bedroom five full bathroom three half bathroom three car garage pool home sold for $1,267,000 (05/26/15).
  • 3159 Wyndham Way -  2012 Christopher Burton built 4,274 sq.ft. with four bedrooms five bathroom four car garage pool home sold for $1,430,000 (06/26/15).
For information on homes for sale in Viera, Florida, call or text me at 321-693-3850.   If you prefer, send me an email.

Six Highest Priced Homes Sold in Brevard County, Florida in October 2015

7525 S HWY A1A - Google Map Photo
Sometimes I get asked by callers considering relocating to Brevard County, Florida where the most expensive place is to live. 

There are general responses that hold true like the newer areas, the beaches, on "the island," in Viera and Suntree.  

But, in the end, these six highest priced homes sold in October 2015 reveal one thing....its all about the specific property and where it is located (mostly water front).

The six highest priced Brevard County, Florida homes sold in October 2015 (as reported in Brevard MLS system) included:
  • 7525 S Highway A1A, Melbourne Beach, a five bedroom four full plus two half bathrooms, pool home with 7,480 sq.f.t under air sold for $1,800,000, beach front direct.
  • 1611 Atlantic Street, Melbourne Beach, a three bedroom three and a half bathroom with 3,262 sq.ft. under air sold for $1,560,000, beach front direct.
  • 365 S Atlantic Avenue, Cocoa Beach, 5,983 sq.ft. five bedroom four and a half bathroom sold for $1,400,000, beach front direct.
  • 1720 Sandpiper Street, Merritt Island, a canal front/Banana River, five bedroom four and a half bathroom, 1.12 acres, pool home, sold for $1,389,000.
  • 6165 Anella Drive, Melbourne (Suntree), a five bedroom four full and two half bathroom, pool home 5428 sq.ft. sold for $975,000.
  • 1950 Harbor Point Drive, Merritt Island, a five bedroom four full bathroom two half bathroom, pool home sold for $975,000.
1720 Sandpiper St. - Google Map Photo

For information on relocating to central Florida including Cocoa Beach, Melbourne and Merritt Island, call or text me at 321-693-3850.

Wednesday, November 11, 2015

Summer Lakes in Viera, Florida - Homes Sold in October 2015 - Market Update

Summer Lakes in Viera (Rockledge, Florida zip code 32955) is an exclusive gated community featuring custom built executive homes that are among the largest in Viera, Florida
Photo: Fairway Lakes at Viera -Style Similar

These executive homes have all the amenities one would expect in a custom built feature rich dwelling.  From the tile roof to the front door these homes have been built for the most discerning home buyer.

Summer Lakes is located near major routes like I-95 and US Highway 1 as well as airports (Orlando International Airport less than an hour, Melbourne International 30 minutes).  Convenient to nearby shopping, medical facilities (Viera Hospital), places of worship, superb schools and much more.

Currently there are two homes for sale in the exclusive gated community of Summer Lakes in Viera, Florida.   These large executive homes have over 3,600 sq.ft. under air conditioning to almost 4,500 sq. ft. with pools.  One these 2007  custom built home is located in the back side of the development closer to Interstate 95 while the other is lake front.  As in all things in real estate, location (even within development) greatly impacts the price.  List prices range from $997,000 to $1,069,000. 

During October 2015 there were two homes sold in Summer Lakes in Viera as reported in the Brevard MLS system. These included:
  • 3052  Bellwind Circle - 2013 built 3,275 sq.ft. 4/3/3 with pool and fireplace sold for $801,000.
  • 3182  Bellwind Circle - 2011 built 3,086 sq.ft. 4/3/3 with pool sold for $745,000.
Anyone in the market for quality, custom built, luxury homes in Viera, Summer Lakes deserves a look as well as the very exclusive gated golf course community of Wyndham at Duran (prices slightly higher.

Photo: Wyndham at Duran - Style Similar
For information on homes for sale in Summer Lakes or Wyndham at Duran please give me a call (or text) at 321-693-3850.

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