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 email@example.com . Gary Waters, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge, Florida.