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Wednesday, February 21, 2018

Brevard County, Florida Housing Market Report January 2018

Presented below is the January 2018 real estate market summary for Brevard County, Florida as provided by the Space Coast Association of Realtors.

The residential/single family report for January 2018 as compared to January 2017:

  • Closed Sales - dipped 6.2% for January 2018 with 563 units closed compared to 600 in January 2017 Cash sales also decreased 19.3% compared to January 2017.
  • New Pending Sales - just barely down 0.5%.
  • New Listings - decreased 3.7%.
  • Median Sales Price for Brevard Single Family homes - up 10.3% to $215,000 compared to a year ago which was $195,000.
  • Months Supply of Inventory - increased 7.7% to 2.8 months, an increase from 2.6 months in 2017.
  • Traditional Sales - down 1.3% with a median sales price of $215,750.
  • Foreclosure/REO Sales -  down  a massive 64.4% with a median sales price of $162,500.
  • Short Sale Closings - dropped 25.0% with a median sales price of $215,000. 
A quick recap of the Brevard County Townhouses/Condos for January 2018:
  • Closed Sales - down 9.7% for January 2018  with 168 units closed compared to 186 in January 2017 with a decrease in cash sales of -21.9% compared to January 2017.
  • New Pending Sales - increased 2.7% and New Listings are up 14.6%.
  • Median Sales Price for Townhomes/Condos - up 4.9% to $149,950 compared to a year ago which was $143,000.
  • Months Supply of Inventory has stayed the same at 3.8 months in January 2018 and January 2017.
  • Traditional Sales - down 7.3% with a median sales price of $149,950.
  • Foreclosure/REO Sales -  down 85.7% with a median sales price of $130,000. 
  • Short Sale Closing statistics are not available with one sale in January 2018 with a median sales price of $400,000 and no sales in January 2017.
Ready to buy a home in Florida?  Call me at 321-693-3850 or send me an email.

Tuesday, February 20, 2018

Would You Tell Someone Their Baby is Ugly?

Always tell the truth.  Seems like a pretty safe approach to life.  But the sentence has been cut off.  It should read...

Always tell the truth at the right time and with the right words.

As for human babies, they are all beautiful.

The baby I am referring to in this post is someone's house.

After fifteen years in real estate I can attest to the prevalence of poor taste.  I can attest to varying ideas of cleanliness.  I can attest to the old saying about beauty being in the eye of the beholder.

Finally I can attest to how personal the bond is between people and their homes.

When viewing properties, especially owner occupied homes, I always caution buyers to not say anything beyond "neutral" comments when touring a house.  The intent of my direction is not to teach manners but rather to urge caution to "not show your hand."

How would negotiating strategy be impacted if a seller heard a prospective buyer comment that "This is the one.  I want this house!"

Technology is a wonderful thing.  fifteen to twenty years ago it was not common to have video systems recording activity in homes.  Now systems are common and often undetectable.

Remember when you go in someone's home enter knowing you may very well be monitored.  The monitoring is most likely a security issue rather than a "spying" issue.  Sellers have no idea who these strangers are who come traipsing through their home.

Most real estate agents do not personally know their customers.  Real estate agents try to monitor all activity when they show customers a home.   Still, sellers need to do what they can to protect themselves and their property.  And sometimes it is video monitoring.

If you are perusing homes in search of a new Florida home remember to respect the space, respect the owner

Buyers, take notes. Make generic comments. Ask legitimate questions.

And when you get outside speak your mind about the seller's baby.
Here are some articles about buying a home in Florida.
Here are some related articles about selling your Melbourne, Florida home... 
Ready to sell or buy a Viera (Melbourne), Florida home?  Call or text me at 321-693-3850.

Image courtesy of olovedog at

Thursday, February 15, 2018

Buying a Home in Florida: Don't Play With "House Money."

When working with buyers who want sellers to "give" them closing cost monies I like to remind them that they are "playing with house money."

Of course the "house" I am referring to is the "house" they "want to buy."

There is often an assumption among buyers that a seller has extra money available to offer them  The assumption by many buyers is their offer will be the best or only one coming.  No matter how much a seller needs to sell they may not have the "house money" to concede.

First of all,  sellers have overhead costs.  Sellers possibly have a mortgage to pay off.  Sellers have different motivations.  [Just because an MLS entry says "sellers motivated" doesn't mean they are desperate (or even motivated).] 

In the current real estate market there are plenty of folks looking to buy a new home in Florida  

My last Brevard County, Florida housing data I viewed (December 2017) revealed the inventory of single family homes  to be just above 2.5 months with home prices up about 19% over the previous December.   The likelihood of sellers not receiving additional or even multiple offers is pretty slim.

Multiple offer situations can create a real dilemma for buyers in a seller's market.  Care should be exercised to not get into a "bidding war" that results in a win that is a loss!   Seek the counsel of your real estate agent and don't let emotions take rule!

In a multiple offer situation the key is to provide the cleanest offer consistent with the budget constraints.   The cleanest offer means the fewest contingencies necessary to seal the deal.  Read "What is a contingency?

Buying a home is very often the largest financial decision many buyers make and should be undertaken with the guidance and counsel of a professional Realtor who knows your market.

If you are considering buying a home take a look at the below articles.  If you have questions about the home buying process in Brevard County, Florida, call me at 321-693-3850.

Thursday, December 28, 2017

Permits are not optional.....especially when selling!

No matter how much of a handyman you fancy yourself there is one rule to keep in mind:  Permits are not optional!

It is not necessarily about quality as much as it is about safety.   Folks are licensed for a reason.  It acknowledges minimum education level as well as creates a liability.

When most buyers go into a house they are often focused on the the big picture. The wow factors...the layout, overall appeal, etc.

A good buyer's agent needs to enter the property with an eye toward what may be an issue - whether disclosed or not.  (This holds true as well for a good seller's agent.)

While very few real estate agents are property inspectors or possess a contractor level knowledge there is a basic level of responsibility that comes with being a real estate agent.  There is nothing more "weaselly" than to read an MLS entry where the agent that states buyers must verify all the information provided as it is not warranted.  While all information should be verified this little statement does not absolve an agent or an owner from disclosing known issues that impact value.

There will be records (permits) that disclose when something more than basic was done to a property.  The records will reflect if the final inspection occurred

Occasionally I see MLS entries where the agent comments that the "tax records do not reflect"  whatever.... To me this is a red flag! 

As a seller's agent I recommend the issue be resolved before listing the property for sale.   If you are thinking about selling your home and have done some un-permitted work - fix it now before the deal falls through!

Accurate permits and complete disclosures as we well as professional property inspections are critical.

Your real estate agent will guide you along a path to minimize he chance you will inherit a problem to deal with one day when it is time to sell the home.

Thinking about buying a home in Viera, Florida?  Call or text me if I can help in any way!

Monday, December 18, 2017

Homes For Sale 55+ Communities Melbourne, Florida - Pine Creek Subdivision

There is always a reason for the list price.  If it is low, there is a reason. If it is high, there is a reason.  This article discusses homes for sale in the Pine Creek development in Melbourne, Florida.

Pine Creek is a highly desirable newer (all built from early 2000s)  gated 55+ community located just off Eber Road in Melbourne.   

Pine Creek is only a short drive from major shopping areas, medical facilities, golf courses and much more.  With easy access  to I-95 and US1 it is just a short drive to anywhere in Brevard County!  
The lowest priced home in the gated 55+ Melbourne, Florida community of Pine Creek is listed for sale at $195,000.

I am the listing agent for the home located at 3613 Osceola Drive, Melbourne, Florida.

Why is this property the lowest priced home for sale in the gated 55+ Pine Creek subdivision?
Because the price reflects the age, location (proximity within community to facilities), seller motivation and market. 

The house located at 3613 Osceola Drive is perfect for someone downsizing.  It has 1,335 square feet under air .  It offers two bedrooms (with another office), two bathrooms and a two car garage.  It has accordion hurricane shutters (some electric).  It was built in 2003 and is all electric.

What other homes are for sale in Pine Creek?

There are four other homes for sale in the development.  The list prices for these range from $204,900 (another two bedroom unit) to $260,000.  The other three listings are all over 2,000 sq.ft. under air (3/2/2/) and priced from $245,000 to $260,000. 

Why are these properties priced so high? 
First, most are larger.  Some may be located on the pond.  Regardless, there is a reason I am sure.

If you are considering a 55+ community in Florida take a look at Pine Creek.  The association fees are a very reasonable $500 per quarter.  The amenities are appropriate for a community of this size (pool, fitness area, clubhouse).

Give me a call or text at 321-693-3850 for information on homes for sale in Pine Creek development in Melbourne, Florida or any of the other 55+ communities in Viera, Florida.

Here are a few posts that discuss the 55+ communities in Melbourne, Florida:

If you are considering a move to Brevard County, Florida, here are some articles which may also be helpful.

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