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Wednesday, May 13, 2009

Home Prices Rise in Viera

The title is not a fact – just yet! I read something this morning about the real estate market improving. I know that buyer inquiries and activity picked up but have prices bottomed yet?

How will the consumer know that the prices have bottomed out? Will it take price increase for several consecutive months? Is the price just a reflection of inventory?

In Brevard County, Florida, prices are still attractive. Have they bottomed ? I think that depends on where you want to purchase. I think it depends on how many short sales and banked owned properties are in your desired area.

In Palm Bay, Florida there are still lots of short sales and REO/bank owned properties. In Viera and central Brevard County there are still pockets with lots of short sales. But many of the short sales are under contract pending a decision. Patience is a necessity!

If you are considering buying or selling real estate in Brevard County, Florida, call me, please. Gary Waters, Century 21 Baytree Realty, Rockledge Florida .

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