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Friday, October 24, 2008

Falling Housing Prices in Viera Florida - Who wins?

Who wins with the falling housing prices in Viera, Suntree and Rockledge, Florida? Only one party - BUYERS!

The recent decline in housing costs have hit some folks hard. I believe one group suffering the greatest loss is the investor community.

I spoke with two investors today who have had to convert "flips" to rental properties. They both said they would rather receive some income rather than keep paying the mortgage.

I read a report to day about how the number of units sold in September 2008 increased over September 2007. Good news...sort of.

In some parts of the country I have heard that 25% of properties sold are third party (bank owned) or short sale....distressed properties. In Brevard County so far this month there have been 34 short sales that closed which represents about 14% of the total sales.

Can I say with 100% certainty that all buyers will win in this market? No. Will many buyers be winners? Sure.

If you are consideringhttp://www.moving2brevard.com/ buying a home in the Viera, Rockledge or Suntree areas of Brevard County, Florida, please give me a call.

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

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