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Wednesday, June 10, 2009

"Supersize" doesn't work at McDonald's or in real estate!

I was reviewing listings this morning in the Capron Ridge development of Viera, Florida. Specifically, I was checking the prices on a couple of 1/2 duplex (patio style/villa) homes I had shown a couple of weeks ago.

Never lived in, these two units were built a couple of years ago, near the club house and pool, really nice....with a price drop of about $25,000 since then.

As I reviewed all the listings I noted a "higher end" home listed for about $500K. It is a large home, 3,600+ square foot, pool, three car garage. Looked nice!

And in the same development as several foreclosures and short sales (considerably smaller) listed at less than $150,000!

I have always considered it a better choice to buy a home somewhere near the mid to lower range for any neighborhood. Like a fast food meal, going "large" may be more fulfilling at the time but later on, it may cost you.

The values of the larger homes may make your smaller dwelling more desirable when you sell. On the other hand, a neighborhood of predominantly small dwellings may make your very large home less desirable when you consider selling.

Just something to keep in mind while shopping for a new home in Viera and Rockledge, Florida.

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

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