Friday, April 24, 2015

Home Buyer Tips: What is the first thing a new home owner should do?

Finally you have closed on your new home.  So many things to do as you prepare to move in but what do you do first?

While this advice is more applicable to re-sale properties than new construction the number one item on the to do list should be calling your locksmith.

Hand them over!   While the final step in the closing process is the turning over of the keys how does a buyer know there are not other keys? 

Through the years there may have been multiple copies made and given to family, friends, caretakers  or even tenants if it has ever been a rental property.

So, congratulations on your new home purchase.

Now call your locksmith today.  Here are a few local locksmiths to consider....

  • Lacey's Locks in Rockledge at 321-632-5900
  • Kwik Key of Brevard in Palm Bay (321) 722-2939
  • Beach Locksmith in Cocoa Beach (321) 783-4118
  • Allstate Locksmith in Melbourne at (321) 593-1178
Ready to buy a home in Viera, Florida?  Call me at 321-693-3850 or send me an email if I can help in any way!


Image courtesy of Stuart Miles at FreeDigitalPhotos.net

Thursday, April 23, 2015

Brevard County, Florida Closed Sales and Median Sales Prices By Zip Code March 2015

The below table reflects sales prices by zip code for Brevard County, Florida single family home, townhouse, condo and manufactured home sales for  March 2015.

Some (refer to this zip code map of Brevard County)  of the areas by zip code include these communities:
  • Beach side communities like Cocoa Beach and Satellite Beach (32931, 32937),  
  • Merritt Island (32952, 32953)
  • Suntree and parts of Viera (32940)
  • Rockledge and parts of Viera (32955),
  • Cocoa (32922, 32926)
  • Port St. John (32927)
  •  West Melbourne (32904



For information on homes for sale in Brevard County, Florida including Viera, Suntree and Rockledge, please call me at 321-693-3850 or send me an email.

Wednesday, April 22, 2015

Monthly Market Detail - Single Family Homes - Brevard County, FL for March 2015

Below is a detailed summary of the Brevard County, Florida single family home market for March 2015 as provided by the Florida Realtors®.

Not only are the prices rising but the inventory is not growing which will likely lead to continued climbing prices.



Single Home Prices in Brevard County, Florida climb in March 2015

March 2015 single family home sales in Brevard County, Florida continued to improve with traditional sales once again gaining in sales volume and sales prices compared to March 2014.


The below chart shows the continued, steady increase in Brevard County, Florida single family average sales prices as well.  The double digit year over year increases during 2015 appear to be strong - good news for sellers.  The median sales prices are gaining as well.

 


The above data provide by the Florida Realtors®.

agent@moving2brevard.com

Friday, April 17, 2015

Home Seller Tips: Do I have to really clean my house when I sell it?

Sometimes buyers and sellers have different perceptions of how clean a house should be for the closing.  I advise my seller clients to have it broom clean.  Sometimes I just ask them how they would like to find their new home on the day of close?

One of the last steps in the home buying process is for buyers to perform a final walk through inspection.  With my buyers I prefer to do this on the way to the closing appointment or the evening before, if necessary.

While the main focus of the final walk through is to make sure the house is in the same condition it was in when contracted  there is also an expectation the property will be clean.   While there will not be a white glove inspection it is expected that the property will be emptied of trash and personal contents.

It is expected that hazardous materials like old paint cans and insecticides and flammable items will be gone as well and not left in the garage.

Trash at the curb is usually not a problem.  Even older appliances or TVs that will be picked up is not a problem as long as a special pickup scheduled by seller, of course

While it is not necessary to have Merry Maids clean your house before going to closing please respect your buyers by having your house ready for the new owners.

agent@moving2brevard.com


"Cleaning "image courtesy of AKARAKINGDOMS at FreeDigitalPhotos.net
"Garbage Truck Driver"  image courtesy of vectorolie at FreeDigitalPhotos.net

Thursday, April 16, 2015

Home Buyer Strategies in a Seller's Market

How is the Brevard County, Florida housing market?   One way to summarize the market for buyers is through this advice I recently read:  "Don't sleep on it or you won't sleep in it."

The Brevard County, Florida housing market favors sellers with more motivated buyers competing for fewer homes.   Decreasing inventories with rising prices are also creating more multiple offer situations.  Are we headed to the days of buyers commonly paying more than list price again?  I don't think so yet.  

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So how should a motivated buyer in search of a move in ready home approach this market?

First, be prepared.  Have your mortgage pre-approval in place before shopping for a home.  This does not take long to get done.  If you need a local Brevard County mortgage reference, just ask.  If you are paying cash, obtain a proof of funds letter.

Know your requirements.  Begin with the thing you can't easily change - location.

Then further refine the physical characteristics of the property you want (must have, can't have, age, construction, size, HOA, etc.).

Put together a plan.  The home buying process can be stressful - especially if time becomes a factor.  The closing process takes about 30-45 days for the normal mortgaged home purchase (inspections, appraisal, survey, etc).  Give yourself time. 

Select your local real estate expert who knows your targeted area and understands your requirements. Then start your search.

Finally, submit a well reasoned, document supported, timely offer.    If you don't someone else, may.  With the number of move in ready homes low you may not have the time to sleep on it.

If you have thought about buying a home in Melbourne, Florida, consider doing it now.  Prices are rising, inventory levels are low and interest rates are still very attractive.

agent@moving2brevard.com


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Tuesday, April 14, 2015

Home Buyer Tips: Multiple offers are the number one cause of...

The real estate purchase process can be somewhat mundane.

After all the steps are pretty basic.  Start by obtaining a mortgage pre-approval and selecting your real estate agent.  Then find a suitable property, agree to terms with the seller, perform due diligence (have appropriate inspections/survey/review association documents) and close the deal....simple, right?

But with the current Brevard County, Florida housing market favoring sellers many buyers find themselves in multiple offer situations.  Unfortunately there may be one or two more buyers wanting the same property at the same time.

This is usually the place where a listing agent will tell all agent's involved to have their client customer submit their best offer.   The less than exciting  process mentioned above can very easily become the opposite of mundane - especially if a bidding war ensues.

Buyers now find themselves in the unfortunate position of sitting with a decision hold, walk or raise their offer.    And then there are some unknowns to consider.

For example, does the listing agent have one of the competing buyers as a client? Advantage listing agent.  Does another agent within the listing office have a competing buyer?  Advantage Listing office.

Is the buyer's original offer already the highest on the table?  Could the buyers end up bidding against themselves?

Will the decision going to be made on something other than just the price?   After all, sometimes it is not the price but rather the cleanest offer that a seller selects.  A quicker closing, fewer contingencies, for example, may trump a higher offer price.

If one is obtaining a mortgage then the uncertainty created by multiple offers may extend to the mortgage approval.  After all, the appraisal could very well limit a buyer's ability to compete.   Lenders make loans based on value.  Value is determined by the market.

Regardless, multiple offers are the number one cause of price creep!

Ready to buy a house in Melbourne, Florida?  Call me at 321-693-3850 to begin your search process. 
agent@moving2brevard.com

http://moving2brevard.com/Buyers/Search-Homes-Right-Now


Monday, April 13, 2015

Home Buyer Tips: Questions Your Realtor May Ask

When it is time to shop for a new home one of the first steps buyers should take is to contact a local real estate agent.   Since most buyer's agents get paid after the buyer successfully close on their new home the real estate agent called will likely ask a lot of questions (buyer qualification).

Qualifying a buyer ensures the real estate agent and prospective buyer client have a reasonable chance to successfully close on a new home.

While questions may vary from agent to agent many begin the process with a simple what, when and how approach.  With these questions answered then more detailed questions will begin.
  • What are your goals?  Investment property, first home, move up home, retirement home. 
  • When do you need to move?  The usual timeline for the home purchase process that may take 45-90 days in this area of Florida.  Start too soon and sellers will likely not want to accept an offer if they must  delay closing.   Start too late and the process of locating a house, inspections, appraisals, surveys may take longer than the desired timeline. 
  • How will you pay for your new house when you find it?    If a mortgage is going to be used, has it been pre-approved?  What is the amount?  What is the budget?   If a cash buyer, do you have proof of funds?
While many first time home buyers will know the answers to the first two questions it is the final question that may pose more uncertainty.  That is OK.  Your real estate agent will likely have local mortgage professionals they can refer buyers to, if needed.

Another question you will likely be asked early on is whether you are working with another real estate agent or have a buyer's representation agreement with a Realtor®.

If you are seeking a local Brevard County, Florida mortgage professional, although I have no "secret" list, I can provide some suggestions including many my customers have successfully utilized.

If you are ready to buy a home in Melbourne, Florida, give me a call at 321-693-3850 and lets discuss how I can help you.  If you prefer, send me an email.

agent@moving2brevard.com



Friday, April 10, 2015

Home Buyer Tips: The "Whys" of Buying and Selling a Home.

There are a lot of times in the home buying and selling process where "Why" is an important question.  But "Why one is selling?" is not important.

I know the purpose of the why are they selling question is obviously to gain some type of advantage  - not to see if they can generously help the seller out.  Many times knowing a sellers motivation can be an advantage.

Granted, depending on the circumstances and personalities involved,  there are times when sellers volunteer this information freely and openly.  However, don't expect the seller's agent to give away any information that will weaken their position.

What are some other "whys" buyers and sellers should consider?


The above "Whys" is not an all inclusive list but it does make the point.

While there are a lot of "Whys" in the home purchase process buyers should place the "Why is the seller selling?" at the bottom of the list.

agent@moving2brevard.com

When you are ready to sell your Brevard County, Florida home, call me at 321-693-3850 for your  comparative market analysis.





Tuesday, March 31, 2015

Home Seller Tips: If I list with you can you guarantee you will sell my house?

Prospective Seller:  If I list with you can you guarantee you will sell my house?
Me:  No.

I know there are some real estate agents who make guarantees that if they can't sell, they will buy your home. Without disparaging their words or questioning motives let me just say examine the details. 

Guarantees have a gimmicky ring to them.  There is almost always a catch.  Ever listen to the car sales pitch on the radio or TV?  The announcer sure speaks quickly at the end of the commercial as they have to get the truth in lending "i's" dotted and "t's" crossed.

As for selling your home I can't make promises of what will happen in the future. 

The title question is one that many real estate agents, including myself, commonly face during a listing appointment.

And it is a fair question.

There are so many factors that go into whether a property will sell and at what price.

Just some of these include things like
  • competition, 
  • current condition of the home, 
  • preparation, 
  • accessibility and ease of showing (can't sell if you can't see it),
  • motivation of the seller (if you really do not want to sell then there is nothing I or anyone can do to succeed).
So while I can't guarantee to sell your home and at what price I can make this guarantee:
"I will give the best service possible utilizing every skill I have at my disposal to provide the agreed upon results."
What will we "agree upon?"  A listing price and estimated sale price that will meet your needs, goals and time line.

Still, one timeless truth remains....



Thinking about selling your Melbourne, Florida home?  

Call me at 321-693-3850 if I can help in any way.  Request a free, no obligation market analysis. 


agent@moving2brevard.com

Friday, March 27, 2015

Heritage Isle in Viera, Florida - Market Activity February and March 2015

Heritage Isle is one of the most popular 55+ communities in central Florida.  Why is this gated 55+ community so popular?   In a word "lifestyle!"   


This includes a 21,000 square foot club house with a  huge pool, tennis, fitness center and basketball courts.  If golf is your game there is the Duran Golf Club next door as well as several nearby course from which to choose. If you prefer, biking and hiking is outside your front door!


If one prefers to be less active try some of the offerings like ceramics, painting, computer classes, CPR training, billiards tournaments, shows in the ballroom, movie (or poker) night plus more.  


And don't worry about your lawn....lawn care and exterior maintenance is provided. And if you need help, a concierge service is available (at a nominal cost).  

Association fees vary but are in the $300 a month range.   Read  Choosing a 55+ Community in Viera.


What has recently sold in Heritage Isle in Viera?


Between February 1 and March 25, 2015, there were seven single family homes sold in Heritage Isle.   All seven of these properties were standard sales (three new construction, four resales).  Fortunately for the 55+ market it appears the distressed properties have almost completely left the market place.

The new construction homes sold in Heritage Isle recently included:
  • 3261 Anza Street:  This three bedroom three bath two car garage home with 2,032 sq.ft. under air sold for $257,090.
  • 3231 Anza Street:  Also a three bedroom three bath two car garage home with 2,032 sq.ft. under air sold for $252,090.
  • 3251 Anza Street:  A two bedroom two bathroom two car garage home with 1,866 sq.ft. under air sold for $234,090 .
The recent re-sales in Heritage Isle included:
  • 3532 Carambola Circle:  2006 built  two bedroom two bath two car garage home with 1697 sq ft under air sold for $225,000.
  • 7147 Broderick Drive:  2006 built four bedroom three bath two car garage home  with 1,983 sq.ft. sold for $235,000.
  • 6985 Lovington Way:  2006 built two bedroom two bath two car garage home with 1,847 sq.ft. sold for $224,000.
  • 3375 Sansome Circle:  Newer 2013 built four bedroom three bath three car garage home with 2,381 sq.ft. located on a pond which sold for $320,000.

During this same period there were twelve patio style/townhouse and half duplex properties sold in Heritage Isle with selling prices from $151,000 to $240,000 (half duplex).

The selling prices for half duplex properties ranged from $205,000 to $230,000.  All the half duplexes were 1,500 to 1,800 + sq ft with three bedrooms and two baths with either one or two car garages. (Two car garages more common.)

Selling prices for townhouses ranged from $151,000 to $204,000 with 1,400-1,500+ sq ft under air with one car garages.  More than half of these sales were properties built in 2014 and 2015.


What is for sale in Heritage Isle in Viera?


Currently there are 22 single family homes for sale in Heritage Isle.   List prices for these homes range from $224,900 to $414,900.   Of these, seven are new construction homes.

Most homes for sale in Heritage Isle are either 3 bedroom/2 bath or 4 bedroom/3 bathroom homes with two car garages being more common.

Home sizes vary from about 1,657 sq ft to more than 3,200 sq ft.  Thirteen of these 22 homes for sale are less than 2,020 sq ft.   The seven most affordable homes for sale in Heritage Isle are priced from $224,900 to $249,900.

Currently there are ten active listings for townhouse and half duplex style homes.  Five of these are new construction half duplexes (3br/2ba) priced at approximately $180,000 to $192,000. 

There are two re-sale half duplexes priced in the $229,000 - $249,000 range (both 3/2/2/).  The lowest priced townhouse is priced around $169,000.

agent@moving2brevard.comFor information on homes for sale in Heritage Isle including new construction, send me an email. 

 Ask me about Viera's other 55+ communities...Grand Isle and Indian River Colony Club.


 

Tuesday, March 24, 2015

Brevard County, Florida Townhouse and Condo Market Report (February 2015 vs. February 2014)

Below is a summary of the Brevard County, Florida townhouse and condominium market activity for February 2015 compared to February 2014 activity.
  • Closed Sales were up 8.6% in February 2015 with 190 units closed compared to 175 in February 2014 with an increase in cash sales of 6.6%.
  • New Pending Sales were also up 2.9% as were new listings (up 1.2%).
  • Median Sales Price for Townhouses/Condos up 14.8% to $133,750 versus $116,500 a year ago.
  • Median Days on the Market were down -18.9% to 43 days compared to February 2014 (53 days).
  • Months Supply of Inventory is down -29.5% to 4.3 months (last February 6.1 months).  
  • Traditional Sales are up 24.4% with a median sales price of $141,250.
  • Foreclosure/REO Sales are down -28.2% with a median sales price of $91,200.
  • Short Sale Closings are down -55.6% with a median sale price of $131,100.
agent@moving2brevard.com

 Data provided by the Space Coast Association of Realtors®

Brevard County, Florida Single Family Home Sales, Inventory and Trends as of February 28, 2015

The charts presented below, as provided by the Florida Realtors®, summarize in detail the state of the single family home residential market in Brevard County, Florida for the year ending February 28, 2015.

At the end of February 2015 all numbers appear to favor single family home sellers with increasing sales prices, decreasing inventory, more cash sales and fewer new listings.


Since September 2014 the year-over-year inventory of single family homes has decreased steadily with current inventory levels at the lowest level since May 2014 (except for a one month jump in October).



The majority of single family home sales in February 2015 were standard sales (76+%).  Foreclosures made up about 20% of sales while short sales continued to decrease to only about 4% of closed sales.



Median sales prices have steadily climbed as well except for the slight decrease in November 2014 (coincidentally following the one month bump in inventory in October).

If you are considering buying a single family home in Brevard County, Florida this may be your best time.   Look at the signs...
  • Prices are rising, 
  • Inventory levels are low, and 
  • Interest rates are still very attractive (around the 3.8% range for 30 year loans).
agent@moving2brevard.com

The above data provided by the Florida Realtors®


Monday, March 23, 2015

Home Buyer Tips: What Condition Should a Seller Leave Their House in at Closing?

One of the last steps in the home buying process is for the buyer to do a a final walk through inspection.  With my buyers I prefer to do this on the way to the closing table.

The main focus of the final walk through is to make sure the house is in the same condition it was in when contracted including the appliances and lights, etc. that are supposed to remain are still present.

Not nearly as valuable as the physical house and associated property there is also an expectation the property will be clean.   While there will not be a white glove inspection it is expected that the property will be emptied of trash and personal contents.

It is expected that hazardous materials like old paint cans and insecticides and flammable items will be gone as well and not left in the garage.

Trash at the curb is usually not a problem.  Even older appliances or TVs that will be picked up is not a problem as long as a special pickup scheduled by seller, of course

While it is not necessary to have Merry Maids clean your house before going to closing please respect your buyers by having your house ready for the new owners.

And if a gift certificate for Merry Maids is desired, in Brevard County, order here.

agent@moving2brevard.com

What is a "Walk Through?"







"Cleaning "image courtesy of AKARAKINGDOMS at FreeDigitalPhotos.net
"Garbage Truck Driver"  image courtesy of vectorolie at FreeDigitalPhotos.net