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Tuesday, December 30, 2008

What will the Viera Florida market do in 2009?

I am a full time real estate agent who happens to work primarily in the Viera, Suntree, north Melbourne (Pineda/Lake Washington) and Rockledge areas of Brevard County Florida. Not a fortune teller!

But based on my experience which includes

  • 5+ years in the Viera area market,
  • new construction sales,
  • re-sales (working with buyers and sellers),
  • performing BPO (price opinions for lenders) and
  • my gut (OK, a little bit of a paunch)...


Here it is... through the multi colored, slightly fogged......well.... As the inventory drops slowly prices will finally stabilize. But that will not happen until the short sales, REO and Bank Owned, and new inventory drops. Our MLS inventory of single family homes is about 6200....a lot better than the "old days" when it was about 8,000!

The Viera market will continue to offer buyers tremendous opportunities. "They" say real estate is cyclical so the ability to purchase on the down side is good - for buyers!

For sellers....as prices continue to drop smart sellers will price competitively ahead of the decline. I have seen homes priced at $300,000 that finally sold at $200,000. Seems like it would have been better to be aggressive and get $250,000 instead of riding the slide?

If you are considering a purchase in the Viera, Rockledge or Suntree areas of Brevard County Florida, I would welcome a chance to assist you. If you are a seller, I would like to assist you as well.

I can be reached at 321-693-3850 or by email to agent@moving2brevard.com . Gary Waters, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge, Florida.

Divorce not an option because of the...

KIDS ....no, because of the real estate market!

I was reading an article today, not the first I have seen, which discussed the fact that folks are not divorcing as much now as they once did. At first this sounded promising.

Perhaps people are making better decisions. Nope, not the reason.

At one time there was a feeling that folks had to stay together for the kid's sake. Now apparently they are staying together for the mortgage's sake. Can't sell for what they owe...who gets stuck with the mortgage? Who knows, maybe some will resolve their differences in the end?

Considering selling your Viera, Suntree or Rockledge home? Give me a chance to be your real estate agent. Gary Waters, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge, Florida.

Call me directly at 321-693-3850 or email me at agent@moving2brevard.com.

In LIfe, Aim High...In real estate, think about it!

I recently read a book by Joel Osteen called Become a Better You. An excellent book with some wonderful admonitions, for sure!

Near the end of the book he tells of his father stating he would rather shoot high and miss than aim low and hit the target.
Good advice, for sure!

In real estate, especially the Viera Suntree and Rockledge Florida market, if you are a seller, aiming high will not work if you are looking to sell.

Homes in Brevard County seem to be selling for about 93% of the list price. Buyers expect some negotiation. But... if you price your property correctly initially your potential buyers will know that. At least they will if their real estate agent is knowledeable of the market!

If you are considering selling your Viera or Rockledge home please feel free to give me a call. I would welcome a chance to discuss my marketing plan and what I honestly believe your house will sell for in this current market.

The difference between an old listing and sold2 is getting the price right early!

Gary Waters, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge, Florida. Call me directly at 321-693-3850 or email me at agent@moving2brevard.com.


Short Sales, REO and Bank Owned Properties in Brevard County Florida

gold house As the 2008 year seems to limp away and 2009 awaits us, I wanted to highlight a few posts that I have made over the past year pertaining to short sales, REO and Bank Owned properties in Brevard County Florida. The links below will provide access to these posts however I encourage you to explore this blog, www.moving2brevard.blogspot.com, for other posts which may be of interest. A quick summary of these terms:

  • Short Sale. A sale where the probable sales price and proceeds are less than the mortgage owed. These sales are time consuming (for buyers and sellers) and require third party (lender) approval.

  • REO. This is just an acronym for Real Estate Owned (read that as owned by the lender. These are properties that have already been foreclosed.

  • Bank Owned Properties. The same as REO...already owned by the bank!

Brevard County Short Sale Market

Short Sales in Viera and Suntree Florida

Sellers - You must compete with Short Sales

The Difference between a good deal and a great deal..

REO, Short Sale or Fair Market...What is it?Don't Price yourself into foreclosure!

Pricing a Short Sale from a buyer's perspective...

If you are in the market as a buyer or seller in Viera, Suntree, Rockledge or Cocoa Florida, please give me a chance to be your real estate agent. I can be reached at 321-693-3850 or email me at agent@moving2brvard.com. Also, please take a look at my other blog here.

Gary Waters, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge, Florida.

Thursday, December 18, 2008

Not what it always seems....

I was watching one of my all time favorite TV shows this evening - The Andy Griffith Show. This may be showing my age...

In this particular episode Floyd The Barber is forced to meet with a lady he has been corresponding with through pen pal group. Apparently he was not the rich man he had pretended to be.



This reminds me how some owners (and
their agents) sometimes fail to tell things the way they really are... Great Views. Move in ready, meticulously maintained, bring your bags.

If you have ever been a buyer you know the words that have been used to describe the unseen property - and how disappointed you were when they were inaccurate!

Selling a property is stressful for sellers. Why have yourself deal with potential buyers who really are not interested in your property. I have found that it is so much easier on everyone - buyers, sellers, real estate agents if the property is presented as it really is.

As a seller please review the MLS entry your real estate agent puts out there for the world to see. If it is not completely accurate, have it corrected. It will certainly help the selling process!

If you are considering selling your Viera, Rockledge, Suntree or Cocoa Florida home, please give me a call. I would welcome a chance to discuss the process and my marketing plan.

Gary Waters, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge, Florida. Call me directly at 321-693-3850 or email me at agent@moving2brevard.com.


Mortgage application rejected - Doing you a favor?

I was speaking with a mortgage broker recently who, unlike most, takes the position that a loan denial is not always bad. In fact, his position was that he is doing the borrower a favor. He is right.

The problems we are facing today in this real estate market is that too many lenders "stretched" the rules to approve everyone!

Not even car dealers are approving everyone for loans! I still hear them say "all applications will be accepted..." What they are saying is that they will let you fill out an application.

Home ownership is the American Dream. Unfortunately, it is now the American Nightmare for some!

If you are in a position of possibly losing your house, talk to your lender about a short sale. Call the lender's loss mitigation department to check out the options. Perhaps a mortgage modification is in order. Notice I said "you" call your lender. You do not have to pay some company to discuss this with your lender. And you do not have to be behind in payments. Do not wait!

And, if you are in Rockledge, Viera or Suntree Florida and selling is necessary, please call me. Gary Waters, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge, Florida.

Tuesday, December 16, 2008

Viera Short Sale Activity

I am not a short sale expert. I work with buyers who are in the residential market and who happen to have the flexibility to entertain potential short sale properties.

Short sale sign What is a short sale? Why does a short sale require flexibility? Basically a short sale is a property offered for sale where the probable selling price will be less than the monies owed. Therefore the lender will have to approve any offer the owner accepts. [Notice the owner is the seller, not the bank.] Why does this take flexibility? Because you never know when, and if, the lender will accept your offer or another offer.

In the Viera Florida market there are currently 67 active properties listed as short sales. Sounds like a lot, doesn't it? Considering there are 27 short sale properties under contract in the Viera area then the 67 available does not sound like a great deal!

And of the 67 properties, 7 are in the 55+ communities of Heritage Isle and Grand Isle. So 60 properties is not that many at all. That is a good sign for sellers... as the inventory drops sellers will be competing with each other, not distressed properties!

If you are interested in purchasing a home in the Viera Florida area and have the flexibility, take a look at short sales, You may just find a deal!

Gary Waters, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge, Florida.

Selecting Your Viera Florida Real Estate Agent

I was discussing client interviews with another agent in my office, Century 21 Baytree Realty, yesterday morning. She had just landed a new listing for another Viera Florida property.

Getting sellers to commit to you as their real estate agent of choice is a lot harder than it used to be...harder for the seller, that is!

In the "old days," (seems like only a couple of years ago - it was) a seller in Viera or Rockledge Florida had an easy time selecting their real estate agent - choose the one who tells you they will list for the highest price! That may not have been the only criterion used but it was the main one.

Now selecting your Viera and Rockledge agent is a little but different. Sure, price is key but it is only one of the factors. The other key areas used to make the decision include:

  • Familiarity with the neighborhood/area. Sellers want to know their agent has local knowledge. Buyers have questions about schools, restaurants, churches, golf courses, etc. An agent who knows the area well can sell the area well!
  • A marketing plan. There is much more to selling a property than placing a sign out front!
  • Internet Presence. Sellers know that buyers use the Internet to shop for everything from Christmas gifts to houses!
  • Comfort. Sellers want to feel comfortable with their agent. This is a stressful time and this "we're in it together feeling" can help. I know from experience!
  • Realistic Expectations. I have found that sellers who are motivated really do want to have their expectations grounded in facts...not wishful thinking!wishful This goes hand-in-hand with the comfort!

If you are considering selling your Viera or Rockledge, Florida home, please give me a call. I can be reached directly at 321-693-3850 or by email to gwatersc21@aol.com or agent@moving2brveard.com.

Monday, December 15, 2008

When something is said so often...

I was reading a article in an magazine this morning. The author made the statement that when something is said and heard so often people assume it is the truth.

That could be said about the real estate market as well. What are some of the things that fit into this category? It is only my opinion but....

  • It is a great time to buy a house. Only the buyer knows the real answer to this statement. You often hear this from real estate agents. As a blanket statement it may not be true. For some, this is a great time to buy!
  • Prices will keep dropping. The real estate market is local...local...local! What is happening in Maryland, California, Florida, even different areas of the same state varies. You usually hear this from the television talking heads or your local "know-it-all." Who knows for sure?
  • You can't sell in this market! If you are considering selling at this time, discuss your needs and time line with a real estate professional. Heck, choose several and get different opinions. You can sell in this market but you must be educated on your market and have your expectations well grounded!
  • All real estate agents are the same! There is no master cookie cutter at NAR or some state real estate association who has the primary responsibility for ensuring every real estate agent is outfitted with same skill sets. Not all agents have the same marketing prowess, Internet knowledge, people skills, negotiation skills, ethics....You get the picture. Sure, you may hear it said but those who have worked with real estate pros know, ask them!
Some things can be said enough to where one begins to believe the exhortations. How many kids have gone bad because an adult told them they were bad or would never amount to anything? Don't believe all you hear - regardless of the number of times it is said!

If you are considering buying or selling a home in the Viera, Rockledge, Cocoa, Suntree areas of Brevard County, Florida, I would be honored if you contacted me to assist you. Gary Waters, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge, Florida. Call me directly at 321-693-3850 or email me at agent@moving2brevard.com.

Short Sales and Brevard County Florida

I was watching CBS' 60 Minutes last night. I caught the end of a segment on the real estate market in Miami Florida.

They had a real estate broker who was really quoting the numbers....really bad numbers about short sales and foreclosures in Miami and south Florida. Actually he had formed a company that, although I don't recall the title, had the word vultures in it. He said vultures (the animal) existed to clean up the mess. He saw his company as one who worked with investors to clean up the real estate carcasses. Quite interesting.

Here in Brevard County Florida (central coast, east of Orlando) the short sale and foreclosure market is not nearly as extreme as south Florida. However, there are some really good opportunities for those with the ability to buy right now.

If you are interested in short sales and REO properties in Brevard County, please feel free to contact me. I would be happy to email you listings and answer any questions you have,'

Gary Waters, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge, Florida. Email me at gwatersc21@aol.com or call me directly at 321-693-3850.

Viera Florida Real Estate Agent needs clients!

I sat down in front of this computer this afternoon to post an article to my blog. My mind was blank. Those who know me would consider that not too out of the ordinary!

100_2234 So, I took my dog for a walk. My dog, Diesel, is a Boston Terrier with lots of "personality!" [Technically he is my son's dog but I have been dog sitting for a couple of months so he really is mine!]

I thought about writing about the weather. Hey, it is December 15th and the temperature is 75 degrees. I verified that temperature with the Florida Today web site.... A lot of my clients come from the northeast such as Connecticut, New York, Maryland and the Midwest (Iowa, Michigan). It is so much colder in those places so enticing those 55+ folks with the great weather in Viera Florida seemed like a reasonable article.

Then, as Diesel and I circled the block, I saw a bird's nest. It was really built out on the end of the branch. Seemed like it would have been sturdier and safer near the main trunk. For a brief moment I thought how similar that was the way some buyers were at this time - taking a bit of a chance while availing themselves of the great prices in Viera and Rockledge, Florida.

Oh well, I am back at home now. Diesel has had his water. I have had my Diet Mountain Dew (I call it redneck champagne!). And I still have writer's block.

Oh well, if I can't write maybe I can sell a house or condo this afternoon in Viera or Rockledge Florida. I am showing some units in the very popular Heritage Isle, 55+ community in Viera.

Need a Viera or Rockledge Florida real estate professional? Call me, please [re-read the title!]. Gary Waters, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge, Florida.

Please read my other blog at www.activerain.com/blogs/gwatersc21.

Sunday, December 14, 2008

I went Shopping in Viera...and enjoyed it!

OK, so the title is probably not quite accurate. I am not a shopper. I go to the store to get what I need, not to browse.

I accompanied my wife (sounds better than got dragged along) shopping yesterday. I hate crowds, especially at Christmas time. But it was different, very different than my previous experience. Today - the morning after - I sit here contemplating why things were not as hectic and crowded.

It must have been......-
  1. I usually wait until December 23rd to hit the stores and it was only the 13th,
  2. As a result of number 1, I am usually more "panicked" and the crowds seem larger,
  3. The economy is "not what it used to be,"
  4. I am older and more accepting of the chaos...

I must face reality...the answer is all except number 4.

Have a great shopping experience! And, while you are out, buy a house from me in Viera, Florida! Gary Waters, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge, Florida.

Friday, December 12, 2008

How good is that offer?

Real Estate prices have dropped in Viera Florida. OK, prices have dropped significantly. Will the real estate prices in Brevard County Florida continue to fall?

No one knows the answer for sure. My guess is that the prices will fall a bit more as the inventory of short sale and REO / Bank Owned properties are being sold off slowly.

When do you accept an offer? How good is that offer you just received? No one really knows what the future will bring.

A case in point. I saw a piece of vacant land that just closed in Palm Bay Florida. I had a buyer who offered to pay $18,000 for a similar small piece of property about a 18 months ago. Prices back then were up to about $25,000 back then (asking price). It was rejected by the seller. The similar property closed for $7,500 this week. I guess my buyer won by not having her offer accepted!

I wonder how many sellers have rejected offers that later they regretted. My advice in this buyers market....if you get an offer consider it carefully. The next one may not come for some time and it may be for a lot less! The only vaild information you have is the present time!

If you are interested in purchasing residential real estate in Rockledge, Suntree or Viera, Florida, call me. I specialize in working with buyers and sellers in these highly desirable areas of Brevard County, Florida's Space Coast.

Gary Waters, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge, Florida.

What can a buyer's agent do for you?

Many shoppers, lest I say buyers, in today's real estate market shop around by calling the agent on the sign out front. They want to see the property. They have questions. Yadda yadda yadda.

But they fail to stick with one agent. Why?

I believe it is because they do not understand how real estate agents work, especially how they get paid. I will explain this here.

First of all, the agent who is named on the sign in front of a house works for the seller - not the buyer. Sure they will answer your questions and show you the house. They will even help you buy it. But they still represent the seller. They are paid by the seller.

The truth is the buyer's agent is paid by the seller too. But the buyer's agent represents the buyer. So as a buyer why not find you a local real estate expert to be your representative. It will not cost you a thing and they can

  • Show you any house listed in the MLS system
  • Contact any FSBO seller who has a property you may be interested in
  • Educate you on the process
  • Represent you with present the offer
  • Advise through the inspections process
  • Hold your hand to the closing!

And...it does not cost you a thing!Nickel [If you are interested in renting it does not cost you a thing either!]

If you are interested in buying a home in the Rockledge, Viera or Suntree areas of Brevard County, Florida, give me a call. I would welcome a chance to be your representative.

Gary Waters, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge, Florida. Call me at 321-693-3850 or email me at gwatersc21@aol.com.

Thursday, December 11, 2008

Foreclosure Mitigation Specialist in Viera Florida

OK, I will be the first to admit I am not the premier foreclosure mitigation specialist in Viera, Florida. I had some search engine marketing expert email me yesterday to tell me I was on page 71 of Google as a foreclosure mitigation specialist in Viera Florida.

I emailed "him" [whoever he was] back with a simple response. So?

I have worked with folks getting close to foreclosure. These were short sale candidates. I have worked with folks who have successfully negotiated a mortgage loan modification. But, I am not an expert in foreclosure mitigation.

I am a real estate agent working with buyers and sellers in the Viera Florida and Rockledge Florida areas. Buyers who see short sales and other attractive opportunities. Sellers who are looking to short sale, move up or down size. I don't have any specialize niche - except Viera real estate.

If you are in the market as a buyer or seller and Viera Florida is your market, please give me a call. I would welcome a chance to work with you.

Gary Waters, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge, Florida. Email me at gwatersc21@aol.com or call me directly at 321-693-3850.

Market Report Bayhill subdivision Viera Florida

Viera is a planned community of homes in a very popular area of Florida's Space Coast for those relocating to Brevard County, Florida.

Ideally located, Viera is only 40 minutes from Orlando, 15 minutes from the beaches and Patrick Air Force Base, near parks, excellent schools, fine dining and more. Viera is the place to be in central Florida.

There are many subdivisions within the Viera planned unit development and one of the more established neighborhoods is the Bayhill community. Most of these homes were built in 2000 to about 2004. [I must admit that I have one property listed for sale in Bayhill as well.]

What is for sale in the Viera neighborhood? There are 9 properties listed for sale in Bayhill. The prices range from $149,900 for a short sale to $214,900 for the largest private pool home. Most of the homes are larger (over 1900 square feet) with a two car garage.

There are two properties currently under contract as well, a short sale and a 4/2/2 listed at $209,900. Of course the selling price will probably be less as sellers are negotiating! Are there some attractive listings in Bayhill? Are some overpriced? Yes. Such is the case in almost every neighborhood in Viera!

If you would like information on homes for sale in Viera, please feel free to contact me. I can be reached directly at 321-693-3850 or by email to agent@moving2brevard.com.

Gary Waters, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge, Florida.

Viera Homes for Sale with One Acre Lots

I received a call this morning from an out of state individual who is looking for a home with at least an acre of land in the Viera area of Brevard County's Space Coast. Was this possible?

A quick search of the Brevard MLS system revealed about a dozen properties with an acre or more lot size in the Rockledge and Viera area. The prices vary somewhat as there are a couple of short sales under $225,000 to larger, newer homes priced over a million dollars! Actually one of these million dollar priced homes is a short sale as well!

If you are considering a move to the Viera area and need some "space," there are choices. If I can assist provide you with any information on Viera and Rockledge real estate, please feel free to contact me.

Gary Waters, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge, Florida.

Viera Real Estate Market - Some Play, Some Pay

I routinely review and write about the activity in some of the subdivisions in Viera and Rockledge, Florida area. I was at it again this morning and then I saw something that really caught my eye.

A home that is priced one-hundred thousand dollars more than similar homes on the market. Not only that but they have sold for way less than that recently. And the icing on the cake - days on the market over 450 days!

What is going on here? A couple of things. A non-motivated seller and a non-motivated real estate agent. Why do I say such?

If a seller is motivated the property will be priced at least near the market. A home should not be priced at $300,000 when the highest priced home in the neighborhood is $200,000! If a real estate agent is motivated the property will be listed at a price that is near the market. A motivated real estate agent sells homes, non-motivated agents list homes that dont sell!

My advice - get out of the market!

Gary Waters, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge, Florida, serving buyers and sellers in the Viera, Rockledge and Suntree areas of Brevard County's Space Coast. Call me directly at 321-693-3850 or email me at agent@moving2brveard.com.

By the way my title refers to non-motivated folks "playing" at selling and motivated buyers who "pay" when the price is right!

Wednesday, December 10, 2008

It all depends on where you sit....

I was sitting in my home office this afternoon listening to the "bail or loan out" debate on CNBC. There was some Congressman on TV getting very personal about how the automakers had suffered at the hands of Wall Street.

There was another point of view presented which questioned the automakers mismanagement over the years. Each side seemed pretty adamant their position was correct.

Then I saw Jesse Jackson, Jr. making his case for being the next Senator from Illinois (Obama's seat). He felt he was qualified, more so than the others.

Then my thought went to buyers and sellers of real estate. Each is no different than those mentioned above. Your view will always depend on where you are sitting and what is in your best interest at that particular time.

If you are selling in Viera, your home is the best, like none other, worth every penny! If you are buying a home in Viera Florida, the homes are still over priced!

If you are considering buying or selling residential property in Viera and Rockledge, Florida, please give me a chance to be your real estate agent. [I am asking for your business!]

Gary Waters, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge, Florida.

Tuesday, December 09, 2008

Grand Isle, Viera 55+ Community Market Report November 2008

Grand Isle is a "the other" 55+ community in Brevard County, Florida's Viera area. [The largest and newest 55+ community is the Heritage Isle community]

Which community is the better community? My experience has been to ask the residents and they will tell you the same thing. It is the one in which I live! There is a great deal of "community" in each of these gated communities.

I wanted to provide a quick summary of activity in the Grand Isle real estate market for November 2008. Heritage Isle always seems to have 30-40 properties for sale. Grand Isle is not the case. With its pool, club house, recreational facilities, tennis courts and more, Grand Isle does offer its residents a great deal!

As of today there are 10 properties actively for sale in Grand Isle. Prices range from $209,000 to $319,000. All built between 2000 and 2005, these properties are almost all 3 bedroom 2 bath single family homes.

If you would like information on Viera's 55+ communities of Heritage Isle, Indian River Colony Club or , Grand Isle, please feel free to contact me by phone or email. I can be reached directly at 321-693-3850 or by email to agent@moving2brevard.com.


Gary Waters, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge, Florida.

Should I sell my Viera Florida home now?

I received this inquiry this morning. What the gentleman was referring to was not "Should he sell" but rather "Should he sell now" as in December. This is a question that surfaces every year just as the Christmas lights are going on the trees!

My response has changed over the years. I have come to believe that December is not the best time to place your house for sale. I am referring to making it a new listing. If it is already in the market, keep it there.

For a new listing I recommend the seller use December to get the house ready for selling. Take care of the little problems (all homes have something that could be tweaked). Enjoy the holidays.

If you are considering selling your Viera or Rockledge, Florida home in January, please give me a call. It is not too early to start the process - and we can hold off putting the sign out front until after New Years!

Gary Waters, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge, Florida. Call me directly at 321-693-3850 or email me at agent@moving2brveard.com.

Almost 20% of Viera, Suntree Rockledge Homes for Sale are "Short Sales"

This post is a quick summary of the short sale market in Brevard County Florida. As a full time real estate agent who works primarily in central Brevard County (Viera, Suntree, Rockledge), I try to relate these areas to the whole county. Here is what I have found...

  • Almost 1400 of the 6300 active listings require lender approval (short sale)
  • In November 2008 there were 61 short sales closed (14 were in the Viera, Suntree and Rockledge areas)
  • Short sales sold represents about 19% of all single family properties sold in November
  • There are 146 active short sale properties in Viera, Suntree and Rockledge (744 total for sale). This means almost 20% of the "for sale" units are short sales!

What does this all mean? These short sale properties are priced very competitively. They are putting pressure on competing properties. I have seen some neighborhoods where half the properties for sale are short sales (or REO / Bank Owned).

If you are interested in buying or selling in the Viera, Rockledge or Suntree areas of Brevard County Florida, I would be honored if you contacted me. I can be reached at 321-693-3850 or email me at agent@moving2brevard.com or gwatersc21@aol.com. You are also invited to vist my other blog at www.activerain.com/blogs/gwatersc21.

Gary Waters, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge, Florida.

Saturday, December 06, 2008

Viera Florida Rentals are Competitive!

Landlords have finally learned what the sellers in Viera, Florida already knew - you got to compete to succeed!

I was showing rental properties (single family homes) in Viera this week. I only showed about a half dozen before my clients had made a decision. What was really intriguing was that of the six I had shown about 5 were competitive ..... condition and price wise.

It was not that long ago that you really had no clue what you would see when you went out to see rentals. Now that there are so many properties on the market in the Viera and Rockledge, Florida area, even the rentals are getting pretty competitive.

Heck, I even had an owner call to say he would take less and throw in lawn service! Of course he was already higher priced and a couple of the competitors already had the lawn service included. Still he knew that he was not competitive otherwise he would have not called me. I hope he takes a clue and lowers his price and advertises the lawn service.

If you are in need of temporary accommodations in the Viera, Rockledge and Suntree area, please give me a call. I would be happy to email you some listings.

Gary Waters, Florida licensed real estate agent, Century 21 Baytree Reality, Rockledge, Florida. Call me at 321-693-3850 or email agent@moving2brevard.com.


Market Report Ashwood Lakes Subdivision Rockledge Florida

Ashwood Lakes is a very nice development located just off Barnes Blvd in Rockledge Florida. Convenient to I-95 and U.S. 1, it is a great location for those needing to commute to work or school. Located near excellent schools, great shopping, 20 minutes to the beach, golf and more, Ashwood Lakes represents some of the best bargains in the Viera area!

What is for sale in Ashwood Lakes? As of today, December 6th, there are 8 homes for sale.

The prices range from a short sale listed at $180,000 (2100+ sq ft living area) to a high of $249,900 (another short sale. These homes were all built between 1999 and 2003 so they are all relatively new! Some are located on the water, some back to a preserve, a choice for everyone!

In November 2008 there was one closing - a short sale that listed for $192,000 sold for $188,000. Not bad for over 2100 square feet! At this time there are two short sale properties under contract. With both listed in the $160,000-170,000 range it will be interesting to see what the lender accepted!

[If you are in need of information on short sale properties in Brevard County, Florida, please let me know!]

If Rockledge or Viera Florida is a consideration for your next purchase, please give me a call. I would welcome a chance to assist you. I live and work in Rockledge so I know the area as well as the neighboring Viera development.

Gary Waters, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge, Florida. Email me at agent@moving2brevard.com or call me directly at 321-693-3850.

Friday, December 05, 2008

Heritage Isle 55+ Community Viera - Market Report November 2008

If you are considering a move to Florida and a 55+ community is something you are pondering, take a look at all that Heritage Isle has to offer!

As of today there are about 31 active listings with prices running the range of $149,900 to $424,000. There are plenty of choices - as well as new construction from some of the areas best builders!

This gated community offers a 21,000 square foot club house, pools, fitness facilities, organized activities, golf course next door and more.

In November 2008 there were two properties that closed (priced from $196,000 to $213,000). Good news for sellers is the fact that 7 properties went under contract during November. That is good news as there were 40 properties for sale at the beginning of November! There are four short sales available in Heritage Isle as well.

For information on Heritage Isle or any Viera, Florida properties call Gary Waters, Florida licensed real estate agent, Century 21 Baytree Realty, 1211 Admiralty Blvd, Rockledge, Florida. Email me at agent@moving2brevard.com or call me directly at 321-693-3850.

Augusta Trace and Turtle Creek Golf Course Homes

During the month of November 2008 there was not a single home in the Augusta Trace subdivision that went under contract nor did any properties close during this period. Augusta Trace is not a real large development with only about 60 or so homes on the golf course in Rockledge Florida so the fact that nothing went under contract is really not that unusual!

There are 5 Augusta Trace properties listed as active in the Brevard MLS system with three of these short sales (one as low as $315,000). Most homes in Augusta Trace run around the mid -$300,000 range, up to $400,000 and some sold for much more when they were being built!

Augusta Trace is located off Barnes Blvd in Rockledge, Florida. Convenient to Viera, beaches, Interstate 95, Orlando, golf courses, great schools and much more! Prices for the listed properties range from $315,000 (4 bedroom 3 bath, 2442 square feet under air) to $369,000 (a 3 bedroom 2 bath with 2202 square feet. Kind of strange the highest priced home in the subdivision is the smallest for sale??????

If the Viera Suntree or Rockledge area of Florida is a place you are considering purchasing a home, please feel free to contact me directly at 321-693-3850 or email me at agent@moving2brevard.com.

Gary Waters, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge, Florida.

Market Report Phillips Landing Rockledge Florida November 2008

During November 2008 how do the market treat sellers in the Phillips Landing subdivision? Phillips Landing is a newer development in Rockledge, just off Interstate 95 and near the area of Viera. Most of these homes were built from 2005 to this year. A quick summary for Phillips Landing is presented here:


Active Homes for Sale: 11 ($149,900 - $294,900)
Homes going under contract in November: 1
Short Sales actively for sale: 4 ($149,900 - $178,900)
[Some deals here!]
Sold in November 2008: 1
(for $175,000)

Phillips Landing subdivision is convenient to Interstate 95, 40 minutes to Orlando International Airport, 20 minutes to the space center, shopping, restaurants and excellent schools.

If you would like information on the homes for sale in Phillips Landing and Rockledge, Florida real estate market, please feel free to contact me. Gary Waters, Florida licensed real estate agent, Century 21 Baytree Realty, 1211 Admiralty Blvd, Rockledge, Florida.

Plantation Point Market Report for November 2008

Plantation Point is a subdivision located in Rockledge Florida just off Barnes Blvd. Convenient to Interstate 95 and US 1, this central Brevard County community presents some very attractive opportunities for buyers in Brevard County.

As of December 5, 2008 there are five active listings in Plantation Point. All built in 2004 and 2005 with square footage from about 2,000 and upwards these homes are not small by any means.

List prices for these active properties run from $239,900 to $449,000. Two of the active listings are short sales which require third party approval of any offer.

One property, a short sale, closed in November for $290,000. This was a large 2780 square foot home that was listed for $349,900. That was a pretty decent deal - 82% of list price!

If you would like information on any of the homes for sale in Plantation Point or Rockledge / Viera, please feel free to contact me. Gary Waters, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge, Florida.

Monday, December 01, 2008

Brevard County Florida Market Report November 2008

As we head into the last month of 2008 this year will definitely go down as one of the bleakest in recent memory for real estate. The prices have dropped considerably. Foreclosure rates have risen throughout the year. But single family homes are still selling.

During November 2008 there were about 320 single family homes that closed in Brevard County. An interesting statistic is that according to the Brevard MLS system information about one-third of the homes that sold were sold for "CASH." This is a higher percentage than I can recall seeing in the past.

Here is a summary as of today however these numbers may change a bit as agents continue to add some closings that were not yet recorded. The Average Selling Price was $175,282 while the Average List Price was $195,872. The Median List Price was $139,900 with a Median Sell Price of $132,400. The Average Days on Market was 108 days which has been fairly consistent over the past several months.

For information on the Brevard County Florida real estate market please feel free to contact me at 321-693-3850 or email me at agent@moving2brevard.com.

Gary Waters, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge, Florida.

Sunday, November 30, 2008

Hey, Seller....Competition is a good thing!

I spent this weekend watching a lot of college football. The Southeastern Conference championship has been set as the Florida Gators meet the Alabama Crimson Tide in Atlanta this coming Saturday. OK, there are other conferences but this is the game for a lot of Florida fans!

The competition in some conferences was very keen. There was a time when the SEC was the toughest league to win a championship. This year it looks like it is the Big 12. With three teams at 11-1 it came down to Oklahoma as the south division representative. The other two teams, Texas Tech and Texas, were close but the competition apparently won over the voters.

When selling your Viera Florida home the competition is keen as well. And the voters you must when over are the potential buyers. How do you do this?

By impressing the voters by having great curb appeal, attractive staging, and a very attractive price. These are all factors which you as a seller control. When all is said and done, you have to attract your voters. After all, competition is a good thing!

Gary Waters, Florida licensed real estate agent, Century 21 Baytree Realty, serving buyers and sellers in the Rockledge and Viera areas of Brevard County Florida.

Saturday, November 29, 2008

Key players on your team when purchasing a home....

I read a post on another web site this morning about a purchaser who did not receive a home inspection prior to purchase. After the closing she did get the inspection done and there were lots of issues the seller may have repaired if they had been part of the negotiation process....

This is a buyer's market. Motivated sellers are making repairs to get the deal done. Motivated sellers are making price concessions to get the deal done. More importantly though, your inspection needs to be done to make sure you know what you are buying!

So, who are the key members of your real estate team when purchasing real estate?

  • Your real estate agent - don't leave home without him.
  • Your loan officer - they know what you can afford.
  • Your insurance broker - protect your interest.
  • Your Home Inspection Professional - worth every penny you spend!

This may be a simplistic approach to the buying process but the point is you are not in this alone. More importantly, you should not be in it alone. And the key member of your team should be your real estate agent who is there to advise and counsel on all aspects of the process.

If you are considering buying or selling in the Viera and Rockledge Florida areas, call me. I would welcome a chance to be part of your real estate team! Gary Waters, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge, Florida, 321-693-3850 or email agent@moving2brevard.com.

Wednesday, November 26, 2008

New Construction Condos in Rockledge Florida

I was just reviewing some new listings in the Brevard County Florida MLS system. Because it is near my office I was surprised at the price of Bella Vista Condos in Rockledge. These, new construction concrete built 3 bedroom 2 bath units are in the $114,00-$120,000 range. These are units with an attached one car garage as well.

These buildings are all two story however the construction is such that units are on a single level. I have been in many of these units but my preference is the ground floor units. The second floor units are nice but that climb up the stairs is pretty steep! [Maybe this is just my age showing or the fact that I once owned a three level town house in Hagerstown, MD.]

An interesting point - some of the 1438+ square feet condos sold for almost $200,000 a year or so ago when the development started!

If you are considering a move to Rockledge or Viera, Florida and a condo is your choice, there are two Rockledge condo complexes that need to be checked out - Bella Vista and The Ventura at Turtle Creek. Both complexes are a short walk to the golf course!

Call me for information on either of these complexes. Remember the builder has sales staff that represents the builder - bring your agent with you (it is free!).

Gary Waters, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge, Florida. Call me at 321-693-3850 or email me at agent@moving2brevard.com.



Tuesday, November 25, 2008

Brevard County Home Sales Up in October 2008

In an article in this morning's Florida Today newspaper it was reported that Brevard County's existing home sales increased 17 percent in October 2008. That is the good news...the bad - prices continued to decline when compared with last year. Of course the lower prices are good news for buyers!

The local home resale gain is in stark contrast with the national housing report that had U.S. homes sales falling 3.1 percent. In October 2008 there were 423 re-sales and 361 in the same month last year. The median sale price fell 20 percent to $152,200.

To read the entire article click on this link.

For information on any real estate in Brevard County Florida, especially the areas of Suntree, Viera and Rockledge, please feel free to contact me at 321-693-3850 or email agent@moving2brevard.com.

Gary Waters, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge, Florida.

Friday, November 21, 2008

A New Real Estate Frame of Reference

Memory is a great thing. Even now as I have passed the half century mark in years I can sit and vividly recall events of my youth. I can remember my location on the day John F. Kennedy was assassinated. I can recall spending my summers working in my grandfather's store. Lots of great memories, and a few not so great ones as well.

Unfortunately our memory can also taint our view of our present situation. Such is the case for some sellers in my local market of Viera, Suntree and Rockledge, Florida. The new market is different from a year or two ago. The new market is different than the markets of the past.
The new market will not be like the old market so sellers, prepare yourself. Prices are lower. Mortgage loan approval procedures are different (read that as tougher!).

The new market is "the real estate market."

If you are considering selling your Viera or Rockledge Florida home you can rest assured the buyers know "the real estate market." You should as well!

I would welcome a chance to discuss "the real estate market" with you at your convenience. Gary Waters, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge, Florida.

Selling Your Viera Florida Home

What can I do to sell your Viera home?

  • Market it where it will be seen. The Internet is the primary resource potential buyers use in the 2008 market. That is where your home will receive the greatest exposure. I will not list the sites here but know that there are at least a dozen or so primary sites you want to be on.
  • Hold Open House. Sure this method is not the greatest strategy but it does on occasion work. Most agents do not conduct open houses as the results are most often not very favorable. But open houses occasionally do result in a sale!
  • Advertise in magazines and publication. Print media is not the most results-oriented methodology but it is still a necessary avenue to pursue.
  • Direct mail. This method will probably not result in a buyer but there is always the chance that a neighbor knows someone who wants a home in your current neighborhood.
  • Blog About it. Web logs are gaining more and more exposure. My blogs, http://What receive quite a few hits so I actively promote properties on these sites.
  • Recommend a realistic listing price. No explanation needed once you see the competition in black and white.
  • Educate you on the process. The process can be overwhelming however with a little education you will understand.
  • Guide you through the entire process.

What can you do to sell your home?

  • Price it right. I know the Viera, Suntree and Rockledge market. I will perform a comparative property analysis and recommend a realistic listing price. Ultimately it is up to you to decide if this is "your price."
  • Prepare your home for visitors - many visitors if the price is right.
  • Make your home accessible when the potential buyers want to see it.

The above does not contain al the nuts and bolts of the process and serves only as a very basic guide. If you are considering selling your Viera property, please give me a call at 321-693-3850 or email agent@moving2brevard.com.

Gary Waters, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge, Florida.

Who will pull the real estate market out of its decline?

This short post was inspired by a conversation I had last week with my barber (is the correct word hairstylist?) and is only my humble opinion.

Who will pull this market out of its decline? I do not know the exact answer to this question but I do not believe it will be the investor segment. Why? Simply because the return on investment (ROI) is not there right now. The investors I know want a anticipatable ROI within a defined period. In a declining market that is not possible.

So, what will be required to solve the problem? In my opinion these things must happen:

  • Overpriced, wishful thinking sellers, will have to leave the market,
  • Banks will have to accept the offers they receive on short sales to reduce the inventory,
  • Foreclosure properties will have to be sold,
  • Banks will have to open up opportunities for buyers of primary residential properties by offering reasonable financing terms with no hidden "escalators."

So, who will be the leader that will pull this market of its decline? I don't have the answer. Time will tell but I do believe that the new market will not be like the previous market. Homes will sell at reasonable prices and appreciate at reasonable levels. That is what has been missing in the market - reasonableness!

Gary Waters, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge, Florida.

Is there a market for the casual seller?


This is no market for the casual seller. What is a casual seller?

I define this as a person who really has no need to sell, does not care if they sell, and wants to price their property at the high end of the market. Each of these points represents a problem for the market. Why? Because the end result is an exaggerated inventory that does not represent a true market with ready, willing, able sellers.

There is a lot of work to the marketing process. Not just for your real estate agent but for you, the seller. The seller must prepare the property for viewing by the public. The seller needs to spend time de-cluttering and sprucing up the property. The seller has to be content with a potential buyer showing up at a moment's notice. The seller must be flexible. Notice I did not say anything about your real estate agent's efforts which are usually intense as well!

If a seller has no reason to sell (move up, relocate, etc), then there is little motivation to sell. It really makes no sense in a buyer's market for anyone to sell while prices are down - UNLESS THEY ARE LOOKING TO TAKE ADVANTAGE OF THE MARKET. I have worked with a few sellers who realize they may not make much money on the current house but see the opportunity in purchasing a larger/newer home while the prices are depressed!

A seller who does not care if an offer ever comes is not ready to price their home competitively. In the current market if a home is not priced "with the market," it will never sell. It can not be overstated - pricing is the most crucial aspect of selling anything - from a car to a house!

For the above reasons I do not work for casual sellers. Folks who call on me are ready to sell their Viera, Rockledge or Suntree home. If you are such a seller, please give me a call to discuss how we (yes, it is a team effort) can market your home.

Gary Waters, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge, Florida - proudly serving buyers, sellers and rental clients in Viera, Florida and its surrounding communities. Call me directly at 321-693-3850 or email me at agent@moving2brevard.com.

Saturday, November 15, 2008

How easily is your agent reached?

I had to schedule an appointment to show your home yesterday. I called "the real estate office" phone - no answer, only voice mail. I called the listing agent only to receive a message the "mailbox for this number is full!" I called the co-listing agent only to receive voice mail. I left a message.

Did I schedule the property these agents had listed? No.

Why not? Because there were another 7 active in the same neighborhood. The choices are many so if your home is listed, make sure your real estate agent can be reached.

You can't sell it if they can't see it!
Gary Waters. Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge, Florida. Email me at agent@moving2brevard.com or call me at 321-693-3850.


My how we have fallen!

I am in my sixth year of real estate in Brevard County Florida (Viera, Suntree and Rockledge). That is not a long career when compared to my 20 years as a Navy officer!

But in those six years I have seen a market boom (more like a sonic boom) and then go bust! This was really pointed out boldly yesterday as I was reviewing some Viera and Suntree listings. One property I saw (and have been in several times) sold for over $600,000 about 5 years ago or so...now, listing price (foreclosure auction) is $265,000!
My how we have fallen! Maybe it isn't that we
have fallen but rather gotten back to where we should have
been!



If you are relocating to Brevard County, Florida, I recommend you consider the Rockledge, Viera, Suntree areas. There are very attractive newer homes, great 55+ communities, excellent golf course communities, very affordable short sales and bank-owned/REO properties - something for everyone.

I am Gary Waters, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge, Florida. Give me a call if I can assist you in any way - 321-693-3850, email agent@moving2brevard.com.

What is a BPO?

This post is written in response to many questions I have received from Brevard County, Florida real estate agents on BPOs (what are they, how are they done, any secrets, etc). If you are a seller involved in a short sale then this information is appropriate for you as well.

First of all...a BPO is a Broker Price Opinion. It is an opinion of a property's market value. It is not an appraisal as appraisals are conducted by licensed appraisers. These are usually requested by lenders who are facing a decision in how to handle a mortgage issue (restructure loan, accept short sale, foreclose on the property, etc).

So, is there a secret to a BPO? The short answer is no.

I conduct BPOs in pretty much the same manner as I conduct a comparative market analysis for potential seller clients. I consider three active listings that are very similar to the subject property. Ideally these are located in the same subdivision or, at a minimum, within a mile of the subject. I also look at three recent sales within the same parameters.

Because there are so many short sales in the market at this time several of these comparatives may very well be short sales of even REO/ Bank Owned properties. Upon selecting these comparative properties adjustments are made for any differences such as a private pool, upgrades, repairs needed, etc.

My opinion of value is then supported by these nearby "comps." No secret or specialized formula used at all. By the way, when I conduct a BPO on a specific proeprty I am not allowed to discuss the opinion submitted.

If you are considering selling your Viera, Suntree or Rockledge home, please give me a call. I would welcome a chance to discuss my marketing plan and how I may assist you in the process. Likewise, if you are considering a purchase in the Viera, Suntree or Rockledge, I would be honored if you gave me a chance to assist you as well.

Gary Waters, Florida licensed real estate agent, Century 21 Baytree Realty, Rockeldge, Florida. Call me directly at 321-693-3850 or email me at agent@moving2brevard.com.

What is wrong with an old car?

I was noticing yesterday that even in the "nice area" of Suntree and Viera, Florida, lots of folks drive older cars. I was not alone!

I have always been the kind of guy that bought a vehicle and kept it forever. OK, maybe not forever but at least 10 years! This got me to thinking about residential resales. People buy "used" cars so what is wrong with "used houses?"

The answer is there is absolutely nothing wrong with buying a resale residential property. One of the big differences between a new house purchase and a new car purchase is the depreciation issue. You don't lose 10-20% of the house value when you take possesion as opposed to cars that have been sold once!

In both situations, whether buying a used car or home, inspections are critical. A good mechanic can give you a reasonable assessment of a vehicles condition in just a couple of hours. A good home inspector can do the same for your house. Get the inspection prior to purchase so you know the condition at the time of purchase. Unfortunately no inspector or mechanic can tell you the future....

If you are considering purchasing a new or used home in Viera, Rockledge or Suntree Florida, give me a call. If you are considering other areas, please give me a call. I have colleagues who specialize in the beaches, Palm Bay and any place in Brevard County Florida.

Gary Waters, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge, Florida.

Thursday, November 13, 2008

Is it a bailout or a sell out?

I started this draft post on September 27, 2008. Now, a month and a half later I am going to finish it. The text in purple (not sure why I chose purple) is the original.

I am getting a little tired of all the debate by the talking heads. No, I am not talking about the television commentators - I am talking about the politicians!

Poor decision-making has led a lot of corporations to the brink of failure. Washington Mutual, who in my opinion has always provided sub-par service has failed. Part of me wants to say good, part of me wants to say that is bad. I don't know. And I do not believe that most Americans know what to believe.

Does this post relate to real estate in Brevard County, Florida? Not really but that is OK.

As I write this today, November 13, 2008, the election is over. The markets are still in turmoil. The bailout has not done what it was supposed to accomplish. I am still not sure what direction the powers that be are tasking on this.

General Motors is looking for a bailout. AIG took the government loans and have since been caught in a couple of extravagant adventures that appear to be wasteful. Chrysler wanted federal money to assist it with a GM merger. So, where is this going? Not sure yet but the thing that appears to be obvious....the taxpayer will be footing the bill!

So, what is the answer to the question posed in the title? We shall see...

Today is November 26th.... Let's see, last night I heard the President of the United Autoworkers proclaiming how his members are not the bad guys. This morning I heard a talking head on CNBC claim that this was not a bailout but rather the acquisition of assets by the government. We all have a "regardless of topic" as long as we have an interest.

My spin....it is a good time to buy real estate in Brevard County Florida. Prices are depressed, inventory is high, sellers are motivated, interest rates are low.

For information on Viera Florida homes for sale including the 55+ communities of Heritage Isle and Grand Isle, please give me a call. I can be reached directly at 321-693-3850 or by email to agent@moving2brevard.com.

Gary Waters, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge, Florida.

Selling in Viera Florida? Are you "Searchin' for a Rainbow"?

I was discussing listing a Viera home with a caller today. He started the conversation by stating he hoped I would tell him what he wanted to hear. Apparently I was not the first Viera Florida real estate agent he had spoken with over the past few days.

rainbow He was searching. There was an old song in the 1970s called "Searchin' for a Rainbow" by The Marshall Tucker Band. I asked what he wanted to hear. His response indeed revealed he was searching.

You see, he had purchased his home two years ago. He wanted to sell it and walk away with cash in his pocket. Not unrealistic if he had some equity in the property. However, he had obtained 100% financing with an interest only loan. Not only had his property value decreased but he also had not reduced the principal. Like many owners today he was upside down.

I had to lay the cards on the table. He will not sell his home for anything near his original purchase price. Further, there would not be any "walking away cash."

Will he be listing his property for sale? I doubt it. If he does will he find his "rainbow?" Again, I doubt it. Selling for a profit now is a rarity.

The positive I took away from this conversation? My fellow real estate professionals in Viera are telling it like it is! This is what it will take to reduce the glut of homes on the market.

Interested in selling your Viera home? Give me a call, please. I will not mislead however I will share my view of your options. Why not call? It is free!

Gary Waters, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge, Florida. I can be reached by email at agent@moving2brevard.com or call me directly at 321-693-3850.

Do you need to sell that Brevard County, Florida House?

There are 6,450 or so single family houses for sale in Brevard County Florida. That is a lot although less than the almost 8.000 or so from some time ago. This excess inventory includes a lot of short sales and REO/Bank owned properties.

Short Sale is a sale where the probable sales price will be LESS than the monies owed and will require third party (lender) approval. REO properties are bank owned/foreclosure properties.

How many short sales and other third party approval (bank owned) listings? 1,385! Lets see..that is about 21% of the entire inventory of single family dwellings!

So, if you are a "regular seller," consider your competition. These distressed properties are putting immense pressure on your marketing efforts and chance of success. Obviously if you are not a short seller, you have the financial resources (funds, equity, etc) to to sell without being "short" at the closing.

But, should you sell now? Only you know the answer to this question. Some folks are retiring. Some folks still have a lot of equity in their homes and will still end up in positive territory. Some folks are relocating due to job change.

One thing I have noticed is that folks who really have no need to sell are not rushing to test the market! This is a good sign. Only when the inventory decreases will the market stabilize.

If you are considering selling your home in Viera, Rockledge or Suntree (north Melbourne, Florida), please give me a call. By the way, I also serve the Cocoa and Merritt Island areas as well!

I would welcome a chance to discuss the market and my marketing program as well as answer any of your questions. Gary Waters, Century 21 Baytree Realty, Rockledge, Florida. Email me at agent@moving2brevard.com or call me directly at 321-693-3850.

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