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.