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Monday, July 25, 2016

What will $200,000 purchase in Brevard County, Florida in July 2016?

What will $200,000 purchase in Brevard County, Florida in July 2016? 

Here are a few samples of recent closed sales where the selling price was $2000,000 (+/- $5,000).  All of the below sales were listed as standard sales in the Brevard County Multiple Listing Service.
  • 306 N Roundtree Drive, Cocoa - 3 bedroom 2 bath 2 car garage pool home built in 1964 located on .21 acres sold on July 5, 2016 for $200,000.
  • 2418 Carriage Ct G1, Melbourne - 2 bedroom 2.5 bath 1 car garage townhouse with 1,680 sq.ft. located one block from the beach sold on July 15, 2016 for $200,000.
  • 3565 Finch Dr, Melbourne - 3 bedroom 2 bath 2 car garage 1989 built single family house with fireplace and in  ground pool sold on July 22, 2016 for $202,000.
  • 1725 Morning Glory Dr., Viera - 3 bedroom 2 bath 2 car garage 1994 built single family house with 1,366 sq.ft. under air sold on July 15, 2016 for $199,900.  
  • 1461 Talamore Lane, Viera - 3 bedroom 2 bath 2 car garage 2000 built with 1,600 sq.ft. under air sold on July 1, 2016 for $200,000.
  • 2150 Atlantic St. 412, Melbourne Beach - Located in The Breakers Condo, this 2 bedroom 2 bath 1 car detached garage condo with 1,215 sq.ft. sold on July 13, 2016 for $199,999.
  • 998 Dupont St., Palm Bay - 3 bedroom 2 bath 2 car garage with 1,444 sq.ft. and in ground pool sold for $199,000 on July 1, 2016.
  • 2606 Quail Trail, Titusville - 1 1982 built 3 bedroom 2.5 bath 2 car garage located on 1.1 acres sold for $203,000 on July 15,2016.
  • 6035 Serene Place, West Melbourne - 2012 built 4 bedroom 2 bath 2 car garage with 1,793 sq.ft. sold for $198,000 on July 7, 2016.
  • 1765 Timicuan Drive, Viera - Located in the gated Grand Isle 55+ community, this 2 bedroom 2 bath 2 car garage single family home was built in 2004 and sold for $198,000 on July 15, 2016.
For information on homes for sale in Brevard County, Florida please call or text me at 321-693-3850.

agent@moving2brevard.com


Friday, July 22, 2016

Brevard County, Florida Condo Market Overview June 2016

A quick recap of the Brevard County Townhouses/Condos for June 2016 compared to June 2015 as provided by Space Coast Realtors.
  • Closed Sales are down 3.3% for June 2016 with 264 units closed compared to 273 in June 2015 with a decrease in cash sales by 22.1% compared to June 2015.
  • New Pending Sales are down 18.3%.
  • New Listings are up 5.3%.
  • Median Sales Price for Townhomes/Condos increased 14.9% to $154,500 compared to a year ago which was $134,500.
  • Months Supply of Inventory went up 2.7% to 3.8 months compared to 3.7 months in June 2015.
  • Traditional Sales are up 6.8% with a median sales price of $157,000.
  • Foreclosure/REO Sales are down -67.6% with a median sales price of $84,250.
  • Short Sale Closings stayed the same with a median sales price of $32,500.
For information on buying a condo in Brevard County, Florida, please call or text me at 321-693-3850.
 
agent@moving2brevard.com
 

Brevard County, Florida Residential Real Estate Market Overview June 2016 vs. June 2015

A quick recap of the Brevard County Residential Report for June 2016 compared to June 2015 as provided by the Space Coast Realtors:
  • Closed Sales - Increased 9% for June 2016  with 1033 units closed compared to 948 in June 2015 with a decrease in cash sales by 10.5% compared to June 2015.
  • New Pending Sales - Down 8.3% 
  • New Listings - Up 4.4%.
  • Median Sales Price for Brevard Single Family homes - Up 11.8% to $189,925 compared to a year ago ($169,900).
  • Months Supply of Inventory - Down 6.9%  to 2.7 months (2.9 months last year).
  • Traditional Sales - Increased 22.8% with a median sales price of $195,000.
  • Foreclosure/REO Sales - Decreased 56.6% with a median sales price of $115,000.
  • Short Sale Closings - Down 50%, with a median sales price of $135,500. 
Brevard County, Florida remains a seller's market with prices increasing and inventory stable. 

agent@moving2brevard.com

Tuesday, July 19, 2016

Indian River Colony Club in Viera, Florida - Information and Market Report July 2016

Indian River Colony Club is an active 55+ community which, unlike the other two 55+ communities in Viera, Florida (Heritage Isle, Grand Isle), offers an extensive (total) maintenance program.   [Read about the monthly fees here.]
What is currently for sale at Indian River Colony Club in Viera?

Currently there are twenty four active listings in Indian River Colony Club.  Listing prices range from $139,000to $329,900.  Median list price fro homes on the market in IRCC is $179,000.  

The majority of the listings are priced under $200,000 (17 listings).  While square footage under air varies from just over 1,100 sq.ft. to more than 3,200 sq.ft. most properties are in the 1,900 to 2,100 sq.ft. range.  Most of the homes were built in the late 1980s and 1990s with just one being built in 2000.  

There are four homes under contract awaiting closing.

What has recently sold in the IRCC community?

In the past six months there have been twenty five homes sold in IRCC as reported in the Brevard MLS system.   Since June 1, 2016 there have been seven homes sold in IRCC.   

Selling prices ranged from $123,000 to $245,000 with the median sales price at $168,000. The most recent sales included 1855 Freedom Drive, a 1,952 sq.ft. 3 bedroom 3 bath pool home which sold for $245,000. 

On June 27, 2016 the home located at 960 Mayflower Avenue sold for $182,000.  This 3 bedroom 2 bath 2 car garage home was on the market for 81 days.

For information on homes for sale in Viera, Florida's 55+ communities, call or text me at 321-693-3850.

agent@moving2brevard.com
 

Monday, July 18, 2016

How To Be a Buyer in a Seller's Market

In a seller's market it often the swift who succeed.

The Brevard County, Florida residential real estate market is a seller's market.  A seller's market is simply a market where the inventory is less than three months thereby creating competition among buyers.

This is indeed a challenging time to be a buyer unless one is prepared in advance to be a buyer.

How does one "prepare to be a buyer?"

The first step is do the homework.  This means understand the buying process.  This means get your mortgage pre-approval in place and choose your buyer's agent as step one.

Your lender will discuss financing options, recommend loan products and provide a mortgage pre-approval letter.  In a seller's market a copy of the pre-approval should be submitted with the offer.  If a buyer is a cash buyer then a proof of funds statement should be provided.

Your real estate agent will help you focus your attention by assisting you with identifying your needs within the constraints of your budget and goals.

It is critical that "must have" characteristics be identified early on (size, age, price, school assignment area, etc.).   Just as critical  the "can't have" characteristics must be identified as well.

Now your real estate agent can find the homes that meet your critical criterion:
  • budget
  • must have characteristics 
  • can't have characteristics.
With limited inventory homes that meet the above criteria must be evaluated as soon as possible.  Limited inventory often does not provide the luxury of lining up homes to see next weekend or whenever.

Check Out This Related Reading: 

One final word about buying in a seller's market...  Waiting to see just a few more homes after finding "the one" that meets your criteria may result in losing "the one."

agent@moving2brevard.com

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