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Tuesday, October 05, 2010

Should You Sell That Suntree or Viera House Even in This Market?

Deciding to sell your Viera or Suntree (Melbourne, Florida) home in a buyers market may will be a difficult choice.  But, like all things in life, you have no way of knowing if the market will fall, stabilize or what. [I have yet to find anyone optimistic at this point!]

Deciding to sell when you know you may get less for your house than you desire may still be an option if you are going to purchase another home in this market (more house for less).

With the state of foreclosures in a bit of disarray as some banks have frozen the process, and the uncertainty of how many more foreclosures will hit the market, maybe selling now is still the right move. 

Do we know the state of the future market in Viera, Suntree or anywhere in Brevard County, Florida?  Do we know the eventual impact of the end of the Space Shuttle program?  No.  All we know is today:
  • Suntree: 92 single family homes on the market that are not listed as short sales or foreclosures.  Only six properties sold since September 1, 2010 as reported in Brevard MLS system.  As of today there are six listed as bank owned (foreclosure) and 20 listed as short sales in the Suntree area (south side of Wickham).
  • Viera (includes Suntree area north of Wickham): 249 properties listed that are not short sales or bank owned.  57 properties are listed as short sales, another 17 are listed as foreclosures (even two in Summer Lakes).
The key to placing your Suntree or Viera home on the market is knowing what your competition is at this time. The reality is you will have to be priced with the competition – allowing for upgrades, renovations, etc that are obvious additional value.  With new construction occurring in Viera west of I-95, that as well, is a consideration.

The decision to sell is a personal one.  No one can tell you what to do.  But, if you are considering selling your Viera or Suntree house or condo, call me at 321-693-3850 [or email to discuss how I can assist you in the process.

©Gary L. Waters PLLC, Florida licensed real estate agent, Century 21 Baytree Realty, 1211 Admiralty Blvd, Rockledge, Florida 32955

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