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Tuesday, November 30, 2010

Do obstetricians charge less for a quick delivery?

Do obstetricians charge less for a quick delivery?  I think not.  This is a Brevard County Florida real estate blog so what does this have to do with having babies anyway?  Stay with me here....

Should a real estate agent who sells your house more quickly receive less compensation? Most sellers would say probably yes. 

So now you decide to sell your house in Viera or Melbourne, Florida and have begun to search for a Realtor®.  The Brevard County Florida real estate market is a buyers market with plenty of inventory so pricing is critical as well as preparing your house for the market.

Getting noticed (exposure) is the key to getting your properly priced Brevard County house or condo sold.

What happens if I (we) get your house sold more quickly than the average days on the market?  I will discount my services. Call me at 321-693-3850 [email me] to discuss how we can get your house sold.

Gary L. Waters PLLC, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge, Florida serving Florida's Space Coast including the cities and communities of Melbourne, Viera, Rockledge, Suntree, Merritt Island, Cocoa Beach and the surrounding region.

Medicine and Real Estate: Sometimes the taste is just not good!


I read an interesting article this morning lamenting the condition of the real estate market.  And its writer made a good point - sometimes you just have to take the medicine.

For about five years there were lots of home sellers and investors who made a great deal of money especially in the Florida and Nevada real estate markets.  I witnessed this in Brevard County Florida which was no different from the rest of the state. 

As I was telling some folks yesterday - for every winner in the market there was a loser.

Sometimes the loser was the individual home buyer who purchased during the run up.  Sometimes the loser was the investor who continued to buy and flip until all the profits were leveraged on multiple properties - only to lose them when the market reversed.  Sometimes it was the banks that were giving out mortgages to anyone who could fog a mirror.  Perhaps it was your neighbor or someone else you may know.

After two years of decline, an unknown number of future foreclosures (the shadow inventory as they call it), current foreclosures and short sales, we must all step back and take the bitter medicine and live with the fact that some of us lost money.

And move on because the real estate market is what it is....

If you are considering selling your Brevard County, Florida home, give me a call at 321-693-3850 to discuss how I can assist you in the process.  

Considering a short sale, email me today.

Gary L. Waters PLLC, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge, Florida serving Florida's Space Coast including the cities and communities of Melbourne, Viera, Rockledge, Suntree, Merritt Island, Cocoa Beach and the surrounding region.

Monday, November 29, 2010

Getting Your House Ready To Market - Spend Some Money to Make Some Money

Sometimes you just have to spend money to sell your house..... or pay the price for your inaction.  And these efforts are not necessarily reimbursed on a dollar for dollar basis at the time of sale.

It may just be a new coat of paint, some new plants out front, maybe replacement carpet or even fixing the doorbell!  But these little repairs provide a return by...
  • getting your house sold sooner 
  • not having to lower your list price 
  • not having to make concession when the repairs are identified in the buyer inspection
As a seller you may not get the investment back but you will not have the "carrying cost" for a couple of more months while the property sits in a declining market! [Carrying cost - mortgage payment, interest, insurance, lawn maintenance, etc]

Call me when you are ready to sell your Viera and Rockledge, Florida home. [Email me here.] 

Gary L. Waters, PLLC, Century 21 Baytree Realty, Rockledge, Florida, a Florida licensed real estate agent serving Brevard County Florida.

Friday, November 26, 2010

Some Real Estate Deals Never Close - The Reality of Selling and Buying Real Estate

Just like every patient can't be saved, so goes the real estate deal!

I learned a long time ago that there will be issues, whether working with the buyer or the seller, in which there can be no resolution except to move on.
  • Perhaps it was that darn home inspection that revealed some hidden issues. [A pre-listing inspection would have alerted the seller.]
  • Perhaps it is just that deferred maintenance that has left a honey do list that will take months! [Maybe price concession and have the buyer deal with them later?]
  • Perhaps it was that appraisal. I have received grief for saying this but appraisals are black-and-white.
  • Perhaps it that buyer’s employer who now says the economy is forcing layoffs or reduced hours.
  • Perhaps it is that buyer who now wants everything to be thrown in (the furniture, dear deceased Aunt Mildred's lamp, the riding lawn mower, etc). Oh, I left it out - for free!
Even if a seller spends money up front to get the house ready for the market, sometimes that first deal does not get to the closing. But all is not lost for a second buyer will come along if the property is competitively priced.



Thursday, November 25, 2010

Home Seller Tip: Don't Be Humble.

The home sales competition is keen in Brevard County regardless if your house is located in Viera, Suntree, or even Palm Bay.

And although the inventory is high not all houses are created equally!

For example, just in the Viera, Suntree and Rockledge, Florida areas of central Brevard County,  there are 13 properties listed for sale that are four bedroom two bath 1900-1930 sq ft under air built between 1999-2005. The list prices range from a low $149,900 to a high of $219,900.

Is there $60,000 difference between the least and greatest among these?  I don't know for sure about the dollar amount but I do believe there are differences.

Are the differences apparent to a prospective buyer? 

As a seller, this is not the time to be humble. You must make sure your home's star qualities are marketed by your real estate agent. 

Call me 321-693-3850 (email)  if I can market your Viera, Suntree or Rockledge house or condo.

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


Tuesday, November 23, 2010

This can’t be right - Viera Home on Market and Gets Contract in Less Than Two Weeks.

I heard a seller remark yesterday she had been told she priced her home way too low because "it has only been on the market a week and she already had a contract!"

My thoughts (I did not respond as she was not my client) included...
  1. Sellers are not obligated to accept any offer.
  2. The longer a home is on the market the less desirable it gets (Buyers think "what is wrong with it?")
  3. In a declining market waiting may result in even lower offers especially with an unknown number of foreclosures that will eventually hit the Brevard County Florida real estate market.
The reality is simple: Homes that are priced right are selling.  Sellers may negotiate a little but for the most part they have listened to the comps and will know what a good offer should be!

There are some signs your house is not priced right Competent real estate agents will look for homes that are priced right (location, condition and competition) and show their motivated clients these gems.

One other thought is if your Viera Florida house has been on the market for a month or more and you have had little activity, consider the 30-10-1 rule [on the market for 30 days, less than 10 showings and not even one offer, then the price is not right].

If you are considering selling your Viera, Suntree and Rockledge home, call me to discuss how I can work for you. Call me directly at 321-693-3850 or email me.

Gary L. Waters, PLLC, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge, Florida serving buyers and sellers in Brevard County, Florida.

Monday, November 22, 2010

Home Buyer Tip: In Brevard County Home Price Depends on Which Floor You are Shopping On...

Advertisements are meant to grab your attention so it is not surprising that some folks see the prices on some listings and think they are going to get a regular property at that great price. Unfortunately It is just not so.... properties are priced by the seller, even banks, to generate an offer.

And, just as in life, you will get what you pay for when it comes to Brevard County real estate.  Sure the prices are attractive across the board but there are different pricing levels.

The housing market in Brevard County is like a three story house.

On the first Floor you will find Foreclosures/Bank Owned properties where the price reflects deferred maintenance, possible vandalism and sometimes(not always) serious issues (read this as cash buyer only, can't be financed).

As one "climbs" to the second floor they will find short sales where some maintenance may have been deferred but for the most part the property is likely in reasonable condition while being priced at a slight discount.
    Then on the third floor are the Regular sales and the world looks better from up here. Mostly in good condition, clean, most are move in ready! 

    I recently posted an article on the three segments of the Brevard County real estate market - short sales, foreclosures and standard sales.  This article also provided sales and listing information for all three segments.

    If you have any questions on  homes for sale in Brevard County, Florida, give me a call or drop me an email.

    Gary L. Waters PLLC, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge, Florida serving Florida's Space Coast including the cities and communities of Melbourne, Viera, Rockledge, Suntree, Merritt Island, Cocoa Beach and the surrounding region.

    Thanksgiving Week - Get Your Real Estate Business Done Early in the Week!

    My Viera buyers have a home inspection scheduled for this morning. Getting this out of the way early allows them (and me)  to enjoy the Thanksgiving week before heading back to the north on Thursday evening.

    Many sellers and buyers will be busy by Wednesday I am sure preparing for the Thanksgiving meal - or getting ready to travel.

    And after Thursday some will subject themselves to the Black Friday madness...why?  And some will just watch some football and eat leftovers for a few days.

    Whatever is on your Thanksgiving schedule, enjoy the time.

    And if you have real estate business  to accomplish this week, get out early!  Enjoy you holiday and when you need a real estate professional in Brevard County, Florida, call me at 321-693-3850 or email me.  Stay safe!

    Gary L. Waters PLLC, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge, Florida serving Florida's Space Coast including the cities and communities of Melbourne, Viera, Rockledge, Suntree, Merritt Island, Cocoa Beach and the surrounding region.

    Sunday, November 21, 2010

    Charolais Estates in Viera Florida

    Charolais Estates in Viera (near Rockledge, Florida ) offers large executive homes in one of Viera’s most sought after gated communities.  Located near some of central Florida's best beaches, golf courses and churches, Charolais Estates offers custom built homes with tile roofs and private pools on almost half acre lots.

    Only a few minutes drive to The Avenues at Viera shopping center,the new Viera Hospital (opening in April 2011) and great schools like Viera High School as well as Orlando (45 minutes).

    Since April 1, 2010 there have been seven homes sold in Charolais Estates in Viera.

    Selling prices for homes in Charolais Estates have ranged form $352,000 to $452,000.  These homes were all between 2,724 sq ft and 3,575 sq ft under air conditioning.  Four of these were short sales and another was a foreclosure.

    At this time there are three active listings in Charolais Estates priced between $599,000 and $1,090,000.

    For information on homes for sale in Charolais Estates give me a call or drop me an email.

    If Charolais Estates is an interest I would also recommend you look at the homes for sale at Fairway Lakes at Viera.

    Gary L. Waters, PLLC, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge, Florida, serving buyers and sellers in Viera, Rockledge and Suntree Florida.

    Saturday, November 20, 2010

    Home Seller Tip: Home Inspections Prior to Listing Your House for Sale

    I always recommend an inspection prior to listing an older home - not to save the buyer an inspection but rather to address any unknown issues, sort of like a physical exam before starting a strenuous fitness program.

    Most sellers understand that the buyers will probably have an inspection done after they have found a house they want to buy and have negotiated a contract. 

    Inspections by the buyer is a critical step in the real estate purchase.   Inspections can very easily become a deal breaker.   

    If your home is more than a few years old there may be some hidden issues.  Some, if not most, of these issues  may be minor and can be taken care of by the owner.  Or some may require a service call by an appropriate professional. 

    Why not take care of these potential “deal killers” early on?   A clean inspection report can be a plus in the marketing process – especially if your home is an older home.

    Even if there are no "deal breakers" sometimes the "little" things may result in the buyer asking for concessions (read that as price cuts) in order to proceed with the deal.

    You may know your home is in top notch condition but your buyers may not!  A pre-listing home inspection will give you and the prospective buyers more confidence.

    If you are considering selling your Brevard County Florida home, let me know.  I would be happy to discuss the process and how we can help you!

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

    Friday, November 19, 2010

    Brevard County Florida Residential Sales: A 12-month Analysis

    A 12 month (Oct 1, 2009 - Sept 30, 2010) look back at the Brevard County residential real estate market looks like this....


    It is no surprise that the number of sales closed in the April to June period is greater as this the heart of the buyer season as folks look to make their moves as school ends and summer begins!

    As for residential short sales, who knows for sure where the market is headed!  With 1,239 residential short sales on the market in Brevard County and less than 400 sales occurring every quarter, even if there were no new short sale listings added, the inventory will last some time!

    The steady decline in short sales selling price is not a surprise as the new listings far out number the sold properties every quarter and gives buyers more choice - and depresses the market further!

    I will not attempt to interpret the Brevard County residential market based on this twelve month period but it does shed light on where the market has been and possibly where it is headed! With an unknown number of these short sale listings inevitably headed to foreclosure (realism) and an unknown shadow inventory of properties not yet on the market, the outlook is really unknown.

    Perhaps a bigger unknown with a greater impact is the cost of money - the mortgage rate!

    [Disclaimer: This blog represents my opinion only. I am not an attorney, CPA, or clairvoyant.]

    For information on homes for sale in Brevard County, Florida (or to sell your house or condo), give me a call at 321-693-3850 or email me.

    Gary L. Waters PLLC, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge, Florida serving Florida's Space Coast including the cities and communities of Melbourne, Viera, Rockledge, Suntree, Merritt Island, Cocoa Beach and the surrounding region.

    Thursday, November 18, 2010

    Home Seller Tip: Good houses priced correctly don’t stay on the market.

    Pricing your home to sell is a challenge to say the least.  When you look around Viera and Rockledge, Florida area at homes for sale you see much variability in prices.  There seems to always be one or two properties that stand out as either higher or much lower than the rest.

    For instance I looked over the listings in Viera’s Auburn Lakes subdivision recently and wondered what six of seven sellers in Auburn Lakes knew that the other missed.  Perhaps that seventh listing is an exceptional property.

    The problem arises when that seventh one is indeed better than the others! 

    I saw this first hand this past week in another Viera subdivision.  The challenge is now to come up with a reasonable offer  that will obviously be higher than the rest but reasonable enough to meet the appraisal and get my clients a good deal.  Notice I said good..not great.

    A lesson to those wanting to sell your Viera Florida house:  This one was on the market for a little more than a week and “good houses priced correctly don’t stay on the market!”

    Gary L. Waters PLLC, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge, Florida serving Florida's Space Coast including the cities and communities of Melbourne, Viera, Rockledge, Suntree, Merritt Island, Cocoa Beach and the surrounding region.  Email me if I can help in any way!

    Viera Condos in 55+ Community: Heritage Isle Condo Market – Attractive Prices in the Lower $100Ks

    When it comes to 55+ condo living in Melbourne, Florida's Viera community. Heritage Isle is the only game in town!

    [Viera’s other 55+ communities (Grand Isle and Indian River Colony Club) only offer single family detached houses.]

    Condo prices in Heritage Isle are all in the $118,000 to $139,900 range at this time.  The average listing price for condos in Heritage Isle is $127,900 – down from the average list price over the previous year.

    There are two short sale condos in Heritage Isle priced at $118,00 and $139,900.

    Association fees in the condos at Heritage Isle is about $400 or so a month while the detached homes have fees about $100 less per month.

    All the condos in Heritage Isle are 2 bedroom 2 bath with a covered detached carport. Square footage runs from 1,194 to 1,408 sq ft. with some units overlooking the water and Duran Golf Club.

    Only one condo sold in October 2010 – a 1,408 sq ft unit for $125,000. In August another unit with the same floor plan sold for $129,900.  These are the only two recorded sales over the past 4 months.

    For information on the Heritage Isle single family home market in October 2010.

    Gary L. Waters PLLC, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge, Florida, your Melbourne Florida 55+ communities expert. Email me if I can help help in any way.

    Tuesday, November 16, 2010

    Is It “The Brevard County Real Estate Market?” or A Tale of Three Markets: Short Sales, Foreclosures and Standard “Fair Market” Sales

    As I try to compile monthly real estate statistics for the Brevard County Florida real estate market , I wonder about the effectiveness or usefulness of a single report.

    Buyers who enter the real estate market are usually in the market for only a single type of sale based on their time line and goals: standard sale, short sale or foreclosure.  So perhaps separating these types of sales allows them to get a clearer picture of the Brevard County real estate market.

    [Admittedly some buyers will hope for a steal with a foreclosure until they understand the real differences between a foreclosure and other properties! Don't know the difference, email me.]

    The problem facing fair market sellers is they must compete with everything on the market, especially the short sales.

    Are there multiple Markets?  You can decide for yourself...

    Short Sales
    • Closed in October: 79
    • Average Days on Market: 158 
    • Average Selling Price: $143,571 
    • List to Sell Ratio: 95% 
    • % Cash Buyers: 44% 
    • Median List Price: 119,900 
    • Median Sell Price: 114,000
    Standard (Fair Market) Sales
    • Closed in October 2010: 393 
    • Average Days on Market: 102 
    • Average Selling Price: $133,077 
    • List Sell Ratio: 93% 
    • % Cash Buyers: 49.9% 
    • Median List Price: 99,800 
    • Median Sell Price: $94,000
    Foreclosures/Bank Owned Sales
    • Closed in October 132 
    • Average Selling Price: $63,972 
    • List to Sell Ratio: 93% 
    • Average Days on Market: 53 
    • New REO listings in October: 218 
    • % Cash Buyers: 73%
    *The above statistics reflect only single family residential properties - no condos.

    So what is it? One, two or three different markets?  In my opinion it is a three-legged stool!

    Monday, November 15, 2010

    Brevard County Real Estate Market – Inventory Continues to Grow as Holiday Season Arrives

    The good news is there were 482 residential sales in Brevard County Florida during October 2010.  The bad news is there were 1,021 new residential listings in October 2010.

    The average selling price in October was $136,967 with an average of 112 days on the market. The condo market trend is very similar with 66 new listings in October and only  30 condos sold.  Average days on the market was 118 with an average selling price of $95,689.

    As the inventory rises it can only add to the pricing pressures sellers face as the holidays approach.

    Total inventory* at this time looks like this:


    *Information extracted from the Brevard MLS system on November 15, 2010.

    Sunday, November 14, 2010

    Rockledge Florida Houses for Sale...A Litle Something for Everyone

    The Rockledge, Florida area offers all sorts of choices when it comes to single family homes. There is something in most sizes, price ranges and age.

    Just within one mile of my office (next to the Turtle Creek Golf Course off Barnes Blvd) there are currently 48 active listings priced from $114,900 to $1,695,000.  Square footage runs from about 1,200 to a whopping 7,300 sq ft under air! 

    Here are a few of the nearby Rockledge offerings...

    • Ashwood Lakes in Rockledge:  12 homes for sale (5 short sales), priced from $125,900 to $210,000 with 7 under $161,000!
    • Chelsea Park in Rockledge: 10 for sale (4 short sales), priced from #149,900 to $280,000.
    • Plantation Point in Rockledge: 6 homes for sale (2 short sales) priced from $174,900 to $299,900
    • Enclave subdivision in Rockledge:  2 homes for sale priced at $147,500 and $177,599
    • Three Meadows in Rockledge: 10 homes for sale (2 short sales) priced from $114,900 to $279,000. Eight are priced below $160,000.
    • Augusta Trace in Rockledge: 8 homes for sale (1 short sale), priced from $289,000 to $435,000.
    For information on homes for sale in Rockledge, Florida, call me directly at 321-693-3850 or email me.

    Gary L. Waters PLLC, Florida licensed real estate agent, Century 21 Baytree Realty, 1211 Admiralty Blvd, Rockledge, Florida serving buyers and sellers throughout Brevard County and the Space Coast,

    Rental Available in Grand Isle - Viera 55+ Community. Now $1200 a month

    Owner wants tenant now - rent reduced!  May consider six month term but prefers twelve month tenant!  Great 3 bedroom two bath two car garage single family house for rent in the exclusive gated Grand Isle community of Viera (Melbourne, Florida). 

    100_2200Pool, club house, fitness center, tennis, nearby golf course and more!  Great location and only $1,200 a month for 12 month lease.  Washer/dryer and lawn maintenance included.

    Call me at 321-693-3850 or my office at 321-255-2600!  Email me for more information.  Location 1602 Keys Gate Drive, Melbourne, Florida 32940.

    Gary L. Waters PLLC, Century 21 Baytree Realty, Rockledge, Florida.

    Saturday, November 13, 2010

    Carriage Park Condos in Suntree - Great Prices for Melbourne Florida Condo Living

    Conveniently located in Suntree (Melbourne) is Carriage Park - a very nice, gated condo community that is near some of Brevard County's best golf course (Baytree National, Duran Golf Course, Suntree Country Club), newest hospital (new Viera Hospital), shopping and restaurants!

    Monthly dues at Carriage Park in Suntree is about $250 which covers pool, cable TV, lawn care, pest control, security and trash - not bad!

    These concrete construction units were built in the 2000 - 2003 time period and are not small when compared to most other condos (1,376 - 1,811 sq ft and all offer an attached garage).

    One unit sold in October 2010: 500 Trotter Lane #501, a 1,791 sq ft unit for $140,00.

    There are seven units on the market in Carriage Park at this time with prices between $117,000 and  $158,000.  One of these listings is a short sale and a bank owned (foreclosure) unit.

    For information on condos and homes for sale in Suntree and Viera, give me a call at 321-693-3850 or email me,  Gary L. Waters, PLLC, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge, Florida.

    What does 6 out of 7 home sellers in Viera’s Auburn Lakes know?

    In Auburn Lakes subdivision in Viera (Melbourne, Florida although the mailing address is Rockledge, Florida), there are seven active listings for homes for sale. 

    Of the seven listings in Auburn Lakes, six are priced at or below $150,000. 

    What is it about that seventh listing?   Let’s see…

    Could be the size.  No, guess not as it's a 4 bedroom 2 bath 2 car garage house with 1,911 sq ft under air just like four of the homes priced below $150,000!

    Must be the view?  Nope, can’t be as it does not have a lake view while two of the others (plus one under contract) have lake views and are $75,000 less.

    Hmm.. I am puzzled.

    Must be the age of the house.  Nope, can’t be that as they were all built in 2003 and 2004.

    OK, must be the pool. Yes, that is it…a $75,000 pool - must be the pool as there is no other difference.

    I see the highest selling price since June 2010 in Auburn Lakes was $195,000.   It did have a pool.  Can you believe the price of a pool these days?

    For information on homes for sale in Auburn Lakes as well as any other Viera neighborhood, call me directly at 321-693-3850 or email me, Gary L. Waters PLLC, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge, Florida.

    Friday, November 12, 2010

    Where are the Short Sales in Brevard County, Florida located?

    Two facts as I write this about the Brevard County, Florida real estate market:
    1. There are 4,300 single family homes for sale in Brevard County, Florida as of November 11, 2010. 
    2. There are 1,218 single family homes listed as short sales as of today as well.
    Where are the single family home short sales in Brevard County Florida located?  The general area as well as the percentage of all single family home short sales in Brevard County, Florida are listed below.
    • Palm Bay and Malabar areas: 422 (35%) 
    • Eau Gallie/Melbourne/West Melbourne/Pineda areas: 185 (15%) 
    • Titusville/Mims (north Brevard areas): 160 (13%) 
    • Cocoa/Canaveral Groves/ West Cocoa/ Port St John: 129 (11%) 
    • Rockledge/Viera/Suntree: 147 (12%) 
    • Merritt Island: 88 (7%) 
    • “Beach side”: 77 (6%)
    Although these are approximate numbers they still paint a pretty clear picture of the availability/location of short sales in Brevard County as November begins.

    Given there are 429 active single family home foreclosures on the market in addition to the 1,218 short sales, these distressed properties represent about 38% of all single family homes for sale in Brevard County!

    For information on homes for sale in Brevard County, Florida send me an email or call me directly at 321-693-3850,  Gary L. Waters PLLC, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge, Florida.

    Brevard County Florida Real Estate Trivia October 2010


    • Number of Active Listings in Rockledge, Viera & Suntree with lots > 1 acre: 12  
    • New Residential Listings in October:  641 
    • Average Residential Selling Price October: $130,800 
    • Sold Residential Listings October: 379 
    • Average Days on Market October:  155
    • Number of houses for sale in Brevard County with more than 7,000 sq ft:  18 
    • Largest house for sale in Brevard County, Florida: 10, 359 sq ft under air priced at $1,649,000 
    • Most expensive listing over 7,000 sq ft: $3,995,000 (9,250 sq ft, 4 bedroom, 6.5 baths, pool, 3 car garage on Lansing Island) 
    • Number of single family houses for sale listed at $2,0000+: 15 
    • Number of single family houses listed for $1,000,000+: 116

    Thursday, November 11, 2010

    Seller's Tip: Phillips Landing in Rockledge - Competing with the Builder to Sell Your Rockledge House

    Selling your Brevard County home in this market is a challenge.  It is even a greater challenge when you must sell while the builder is still offering new construction.

    In Rockledge, Florida's Phillips Landing development there are a few re-sales however among the active listings is another eight or nine that are new construction or under construction properties.

    Given a choice between a five year old home or a new 2010 model most buyers will opt for new construction if the prices are even close.

    In the past couple of months there have been four homes sold in Phillips Landing.  Two of these were short sales that sold in the $143-150,000 range while a foreclosure sold for $219,000 (2,960 sq ft, 4 BR 2.5 bath with a pool).   About a week ago a short sale sold for $165,000 ( a 3 BR 2 bath 2 car garage with pool and 2,394 sq ft under air).

    At this time most of the distressed properties are gone so if you are going to sell in Phillips Landing in Rockledge, you must compete with the builder.

    What does it mean to compete with the builder?
    • Better Price.  This is the reality ( a used car should not be priced the same as a new car!)
    • Superb condition.  Do what is necessary including some painting, staging, landscape work.
    • Home warranty provided. I will pay for it if you list with me!
    • Incentive for buyer. Closing cost assistance or ?
    • Flexibility in showings. The model home is easy to access so must your home!
    If you are considering selling your Phillips Landing subdivision home, call me at 321-693-3850 or email me if you prefer. I know Phillips Landing in Rockledge.  I have done recent price opinions in your neighborhood.  I have been following your neighborhood on this blog for a couple of years.  I sold my first home in Phillips Landing subdivision five years ago!

    © Gary L. Waters PLLC, Realtor®/Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge, Florida


    A few of my older posts...

    Wednesday, November 10, 2010

    Capron Trace in Viera Florida – Short Sales Dominate Market

    While driving by to check one of my listings in Indigo Crossing in Viera I noticed a few real estate signs in the nearby gated Capron Trace community.  Indigo Crossing, although not gated, is very similar in age and construction to the Capron Trace community.

    Capron Trace is also similar to Indigo Crossing in that distressed properties (short sales and foreclosures) dominate the current market! 

    Most of the homes in Capron Trace were built in the 2005-2007 period and originally sold for some high prices (over $300,000!).

    Currently there are three active short sales in Capron Trace (1,800 to 2,000 sq ft) priced between $169,000 and $199,000! 

    [Another in the same price range is under contract.]

    Since June 30, 2010 there have been six short sales that closed in Capron Trace with selling prices between $170,000 and $189,000. 

    For information on homes for sale in Capron Trace and all of Viera, call me directly at 321-693-3850 or email me.

    Gary L. Waters PLLC, Century 21 Baytree Realty in Rockledge – a Florida licensed real estate agent serving all of central Brevard County, Florida.

    Jameson Place in Rockledge, Florida - Condo Living at Attractive Prices

    Not all condo complexes are created equal.  As I wrote an article this morning on Rockledge, Florida’s The Ventura at Turtle Creek Condos I thought about the other complexes in Rockledge I had not discussed.

    Each of these condo complexes is a little different.  Specifically, I am thinking of the Jameson Place community located near The Ventura at Turtle Creek.

    Jameson Place is a gated community built by D.R. Horton builders. Only a couple of years old, the builder is still constructing new units in the complex.  The complex has single level condos located either on the first or second floor, all with attached single car garages (something The Ventura  at Turtle Creek does not offer).

    With a community pool, playground and nearby parks, Jameson Place offers its residents a comfortable lifestyle at very affordable prices.   Nearby retail shopping, restaurants, two golf course, excellent schools and more, the Jameson Place community would be a great consideration for a young family, singles and seniors looking to retire in Florida. [Jameson Place is also located on the Viera limits line so you don't have the additional planned unit development taxes associated with Viera.]

    There are currently five active listings in Jameson Place with prices ranging from $83,000 [foreclosure] to $119,880.  There are two builder close out new construction units available as well in this price range!

    There is also a short sale in Jameson Place, These are all either two or three bedroom two bath units with 1,079 to 1,346 sq ft under air.  Monthly association dues are about $150.  These condos are also excellent choices for second / vacation homes! 

    Since I have never posted an article about Jameson Place I want to include recent sales history.

    Since April 2010 there have been four sales in Jameson Place.  A foreclosure sold in April for $89,000.  In June there were two sales for $114,500 and $119,000.  Finally, in August there was a unit sold for $112,500.

    For information on the condos for sale at Jameson Place as well as The Ventura at Turtle Creek in Rockledge, call me directly at 321-693-3850 or email me. 

    Gary L. Waters PLLC, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge, Florida serving Florida's Space Coast including the cities and communities of Melbourne, Viera, Rockledge, Suntree, Merritt Island, Cocoa Beach and the surrounding region.

    Tuesday, November 09, 2010

    Ventura at Turtle Creek Condos in Rockledge Florida – Prices Converging into the Attractive Range

    The Ventura at Turtle Creek Condos in Rockledge offer gated living in a centrally located condo community in Brevard County, Florida.  These 2006-2008 built, concrete construction,  four story condo buildings (all have two elevators) offer units with either a detached single car carport or garage.

    The clubhouse, pool, exercise room, walking paths and more make The Ventura at Turtle Creek's attractive prices all that more alluring.

    With prices now converging into the lower $100,000s range (much lower than the $180,000 plus range they started out in about four or so years ago), these condos would be excellent choices for second homes as well as primary residences!

    For those who commute to Orlando, these are great as well as they are located only 45 miles from Orlando.

    There are currently eight active listings in The Ventura at Turtle Creek with prices ranging from $109,000 to $129,700.  These units are all three bedroom two bath units with 1,247 to 1,447 sq ft under air.

    Monthly association dues are about $300 which covers exterior maintenance (everything outside your interior walls), the amenities and insurance.

    There are two short sales in the complex although they are not the lowest priced units for sale at this time.  There is one unit under contract as well – a 2 bedroom 2 bath unit listed at $108,900.

    For information on the condos for sale at The Ventura at Turtle Creek or others in the Rockledge and Viera area, call me directly at 321-693-3850 or email me.


    Gary L. Waters PLLC, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge, Florida serving Florida's Space Coast including the cities and communities of Melbourne, Viera, Rockledge, Suntree, Merritt Island, Cocoa Beach and the surrounding region.

    Residential Real Estate Sales in Viera, Suntree and Rockledge, Florida October 2010

    Sales of single family residential properties in the central Brevard County Florida areas of Viera, Suntree, and Rockledge totaled 59 in October 2010 down five units from the September sales

    As of today there were:
    • Residential properties sold in October 2010:  59
    • Average Days on the Market:  156
    • Average Selling Price:  $197,419
    • Average Listing Price: $208,734
    • List Price to Sell Ratio: 95%
    Of the 59 properties sold in Viera, Suntree and Rockledge, in October 2010, there were 7 short sales which were on the market an average of 103 days. There were 75 residential short sales throughout Brevard County in October.

    The average selling price for the short sales was $270,634 which was 95% of the listing price. [Four of the short sales were sold for prices in the $300-$400,000 range]


    For information on homes for sale in Brevard County, contact me at 321-693-3850 or send me an email.

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

    Monday, November 08, 2010

    Selling Your Brevard County House: Sometimes What Goes on Behind the Scenes Does Not Matter…

    A lot goes on behind the scenes when you list your Brevard County Florida house or condo for sale.

    You have prepared the house by cleaning, de-cluttering and de-personalizing the interior.  You have taken care of the exterior paint and landscaping.  Your real estate agent has taken photos, placed a sign in the front yard with beautiful flyers.

    Your real estate agent has placed it in the Brevard County MLS (multiple listing service), blasted the Internet real estate sites like Zillow, Trulia, Realtor.com, oodle, postlets, craiglist and all the others with information about your house.  Your real estate agent has even scheduled open houses for the next two weekends!

    But, all the efforts behind the scenes, will be for nothing....if the price is wrong!

    When all is said and done, the most important factor that will get your house sold is the price!

    When you are ready to sell your Viera, Melbourne, Rockledge and Merritt Island, Florida house or condo, call me directly (or email) to discuss how I will work for you!

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

    Residential Real Estate Sales in Brevard County Florida During October 2010

    October 2010 residential properties sold in Brevard County Florida total 459 as of November 8, 2010.  These numbers may change a bit as end of the month closings are entered in the MLS system.
    As of today there were:
    • Residential properties sold in October 2010:  459
    • Average Days on the Market:  112
    • Average Selling Price:  $136,948
    • Average Listing Price: $146,948
    • List Price to Sell Ratio: 93%
    Of the 459 properties sold in Brevard County in October 2010, there were 75 short sales which were on the market an average of 161 days.

    The average selling price for the short sales was $147,526 which was 95% of the listing price. [Banks are not negotiating as much. Could be because the short sale list prices are very attractive.]

    For information on homes for sale in Brevard County, contact me at 321-693-3850 or send me an email.
    ©  Gary L. Waters PLLC, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge, Florida.

    Sunset Bay Condos in Merritt Island Florida – Attractive Prices for Gated Indian River Front Condos

    Sunset Bay Condos in Merritt Island, Florida continues to offer attractive prices for those seeking smaller (1 and 2 bedroom) condos on the Indian River in Brevard County, Florida. 
    As of today there are only 17 active listings in the Brevard MLS system (down from the 26 last month).  Of the 17 condos for sale in Sunset Bay, there are 16 short sales and 1 foreclosure. 
    While the prices are still in the $19,900 to $65,000 range, most of the units are 1 bedroom units (13) priced are $32,000.

    During October 2010 only one unit closed in Sunset Bay, a 2 bedroom 2 bath, 1155 sq ft unit sold for $29,900 (a foreclosure).  Still there are 17 condos (all but 2 are short sales) under contract awaiting closing. [The short sale process can take months so who knows when or if these will actually close!]

    If you have the cash, Sunset Bay may just offer a great opportunity for investors!

    For information on condos for sale in Merritt Island and Cocoa Beach, send me an email or call me directly at 321-693-3850.


    Gary L. Waters PLLC, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge, Florida serving Florida's Space Coast including the cities and communities of Melbourne, Viera, Rockledge, Suntree, Merritt Island, Cocoa Beach and the surrounding region.

    Home Buyer Tips: "Treed lot on right of way" does not constitute "Overlooking preserve!"

    Real estate narratives are sometimes creative.  Take "overlooking preserve," for instance. Is that a treed lot on the side of the roadway or a swampy run-off area?  Is that lake really a drainage pond?  How close is that train track that runs along U.S. 1 in Suntree or Viera?

    Sometimes you really can't get a good perspective without going above.  I am not talking prayer right here although I would never discourage it!

    Use aerial views to see what is really around that house you are considering….

    What type of aerial views?
    • In Brevard County, Florida, you can go to the Brevard County Property Appraiser web site, enter the address and click on the aerial view.
    • Or a simple tool like Google Maps can show you an aerial view or satellite view, or even better yet, try Google Earth.
    • Or another good tool is the map provided by Bing Maps
    A word of caution on maps though.  Areas under development constantly change. Sometimes all that green on the map is gone.  For instance, all the trees in this 10+ acre site in the picture here, gone for a apartment complex currently under construction. 

     
    Gary L. Waters PLLC, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge, Florida serving Florida's Space Coast including the cities and communities of Melbourne, Viera, Rockledge, Suntree, Merritt Island, Cocoa Beach and the surrounding region.

     

    Sunday, November 07, 2010

    Take the Emotion From the Real Estate Transaction and You Don't Have a Deal!

    If you have ever bought or sold a house then you have probably experienced the emotional highs and lows of a real estate transaction!  Take away the emotion from the real estate transaction and you don't have a deal!

    The reality is...
    • Sellers are usually have an emotional attachment to their house or condo.
    • Buyers usually make purchase decisions on emotions.
    • Sellers sometimes take inspection results as personal attacks.
    • Sellers interpret a less than full price offer as a put down!
    • Buyers sometimes interpret a rejection of an offer with no counteroffer as arrogance on the part of the seller.
    My advice to buyers and sellers is always the same….a house is a structure not a home.  Memories go with you when you move into and out of any house or condo.

    Patience and respect for the other party to the transaction go a long way to getting through the deal with emotions in check!

    Whether you are the seller or the buyer your real estate agent will help you maintain the excitement and deal with the bumps along the road to closing!

    Gary L. Waters PLLC, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge, Florida serving Florida's Space Coast including the cities and communities of Melbourne, Viera, Rockledge, Suntree, Merritt Island, Cocoa Beach and the surrounding region.

    Saturday, November 06, 2010

    Over Half of Brevard County Florida Properties Under Contract are Short Sales

    In Brevard County, Florida short sales and foreclosures still loom as a major residential real estate market force as fall begins.  This is very evident when you consider that there over half of the properties under contract but awaiting closing (approval by lender or some other contingency) are short sales. [Based on search of "list status" in Brevard MLS as of November 5, 2010] 

    There are another 300 plus properties listed as bank owned (foreclosed)  that are contingent as well and then you have 2 out of every 3 awaiting closing is a distressed property! Can that be right?  I double checked my numbers.

    [Note that these include all types of residential property including town house, condo, single family, manufactured.]
    • active listings marked as short sales - 1527 
    • active listings marked as bank owned - 583
    • active listings not bank owned or short sales - 4439
    • sold short sales - 99
    • sold bank owned properties - 161
    • total sold residential properties (condo, single family, town homes) - 600
    • total pending properties -1,857 
    • pending/contingent short sales - 915 
    • pending/contingent bank owned - 333 
    If you are selling residential property in Brevard County Florida, these numbers are important. You will be competing against these properties although primarily those listed as short sales. 

    For information on residential properties for sale in Brevard County, Florida, email me or give me a call directly at 321-693-3850.



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

    Friday, November 05, 2010

    Chelsea Park Subdivision in Rockledge Florida – Market Activity October 2010

    Rockledge, Florida’s Chelsea Park subdivision provides residents with a superb location near top quality schools, shopping, golf courses like Turtle Creek Golf Course, restaurants and more.

    Chelsea Park is convenient to major routes for those commuting to Patrick Air Force Base, Cape Canaveral or any of the major employers (Harris Corp, Health First, Rockwell Collins) in the Melbourne, Florida area.

    Also, with its proximity to Orlando (40 minutes), Chelsea Park is a great location for those "long distance" commuters working at Disney or any of the central Florida resorts as well!

    As November begins there are 9 active listings in Chelsea Park.  Six of these homes for sale in Chelsea Park are priced at or below $225,000 (including 4 short sales).

    Chelsea Park homes are not small and are not located on zero lot line parcels.  The smallest listed home is over 2,100 sq ft and the largest is 3,406 sq ft.

    While two homes in Chelsea Park went under contract in October two homes sold as well:
    • 417 Heathrow Circle, 2,282 sq ft, 3 BR 2.5 bath, in-ground pool, sold for $180,000
    • 448 Wenthrop Circle, 2,105 sq ft, 4 BR 2 bath, in-ground pool, sold for $224,900
    If you looking for a home in Rockledge or Viera, check out Chelsea Park.  Even better, call me directly at 321-693-3850 or email me.  If you are selling your Chelsea Park home, call me to discuss how I can work for you!

    Gary L. Waters PLLC, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge, Florida, serving buyers and sellers in central Brevard County, Florida.

    What does “foreclosure” bring to a buyer’s mind?

    Foreclosures....a pretty common occurrence these days in Brevard County, Florida.  Just last month there were over 160 foreclosed properties that sold in Brevard County, Florida (preliminary number from the Brevard County MLS).

    Foreclosure properties are also known as REO (real estate owned) or bank owned properties.  Many of the inquiries I receive are from individuals looking for a steal!

    While many foreclosures are attractive buying opportunities do not think of a foreclosure as the same as a standard sale or even a short sale.

    Many have been neglected.  Many have had the appliances removed (including anything that can be hauled away).  Many have hidden problems.

    Foreclosures are priced where they are for a reason.  Many are not in a condition that would allow them to qualify for a mortgage (cash buyers only).

    Gary L. Waters PLLC, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge, Florida serving Florida's Space Coast including the cities and communities of Melbourne, Viera, Rockledge, Suntree, Merritt Island, Cocoa Beach and the surrounding region.

    How much is Your House Worth? Choosing Comps When Selling Your Brevard County House

    Have you ever heard someone state “my house is worth XXXX and I paid XXXX for it.”  When I hear these comments I wonder if they are actually comparing their house with similar properties.

    There are a lot of sites online that will "tell you what you house is worth.”  Be aware these sites are not always using current data.

    Other things to consider include:

    • Maintenance.  There can be a substantial difference in condition if an owner has stayed on top of the everyday maintenance issues. Routine AC service, pest inspections, tackling little issues before they become major problems all add value when getting ready to sell.
    • Updating. A house is not like clothing that goes out of style every year or two but the same carpet from 1979 may not work, just as the harvest gold appliances.
    • Construction. Compare apples to apples as concrete block, wood frame, brick, etc have different costs.
    • Sold properties. Look at what has sold recently in your neighborhood, not across town.
    • Size. Saying the house down the street sold for X dollars is not a valid comparative unless it shares other characteristics such as the sq ft under air conditioning, garage size, construction material, age, etc.
    • Circumstances/Type of sale. Estate sales sometimes bring less as the sellers are ready to sell with the earliest reasonable offer.  Short sales and foreclosures (distressed properties) exert pricing pressure as well.  Having a "sell by" date also influences pricing.
    • Amenities. Pool, storage shed, privacy fence, screened porch, etc all add value.  A word of caution on pools though...they are not worth what you paid for them!
    • Lot Size/Location. It is reasonable to assume your .5 acre lot is more valuable than the smaller lot just as a lake, golf course or conservation area direct property is more valuable than one that is not so located.   Is your house or the comparable located in a gated community? Also is your home or the comparable house located in a community with a pool, park, tennis courts or whatever?  All of these characteristics create different values. 

    This is not an all-inclusive list of considerations.  If you are considering placing your home on the market, call a local real estate agent to provide you with a market analysis.  Most real estate agents will prepare them at no charge and they will use more data than a national database!

    Gary L. Waters PLLC, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge, Florida serving Florida's Space Coast including the cities and communities of Melbourne, Viera, Rockledge, Suntree, Merritt Island, Cocoa Beach and the surrounding region.

    Thursday, November 04, 2010

    Not All 55+ Communities are created equal: Heritage Isle, Grand Isle and Indian River Colony Club in Melbourne, Florida

    There are three 55+ communities in the Viera area of Melbourne, Florida.  They are not all alike and appeal to different people.  Caution...Some of the below is my opinion only.  These communities need to be "experienced." for more than a 30 minute walk through.

    Some of the similarities are obvious.
    • 55+ age requirements, 
    • gated, 
    • same general area, 
    • clubhouse, 
    • fitness centers, 
    • tennis, 
    • lawn care included, 
    • exterior painting included, 
    • organized activities and groups, etc.
    The differences may not be as obvious.
    • Grand Isle has an automated gate while the other two have a staffed entry 7 days a week.
    • IRCC has its own golf course, while the other two are near golf courses.  
    • IRCC is a non-profit corporation owned by its residents. 
    • IRCC fees are much higher than the others because the community is totally maintenance free. 
    • IRCC reminds me of military officer housing (retired Navy here) while the club house reminds me of the Officers’ Club. (My opinion)
    • Grand Isle appears more reserved and quiet with less club availability [personal observation, plus clubhouse hours are less than Heritage Isle which is open 7 days a week. 
    • Heritage Isle has condos, patio homes as well as single family homes. The others have only single family homes.
    There are other differences.  These communities need to be "experienced." for more than a 30 minute walk through.

    For information on homes for sale in Melbourne, Florida's 55+ communities, give me a call at 321-693-3850 or email me,

    Gary L. Waters PLLC, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge, Florida serving Florida's Space Coast including the cities and communities of Melbourne, Viera, Rockledge, Suntree, Merritt Island, Cocoa Beach and the surrounding region.

    An Occupied House Sells Easier Than a Vacant House But....

    No one enjoys selling their house or condo.  Who wants strangers trampling through with dirty feet, critical attitudes, opening drawers and seeing your inner most sanctum?  But as a seller you understand that you can't sell it if the buyer can't see it!

    Selling your house or condo while it is occupied can provide prospects a better idea of room size because your furniture helps define space and potential utilization.

    Empty open rooms and spaces may appear a lot smaller than they really are especially if you have chosen a dark paint.  An occupied house with the lights on and curtains open is much more appealing than an empty house without power and poor natural lighting.

    Here are a few articles that may help you sell that Brevard County Florida house:
    An occupied house needs to be in "showroom" condition however buyers need to understand that there are people (and sometimes pets) living in that house!

    Buying and selling a house or condo is stressful. Patience and respect go a long way in the process!

    Gary L. Waters PLLC, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge, Florida serving Florida's Space Coast including the cities and communities of Melbourne, Viera, Rockledge, Suntree, Merritt Island, Cocoa Beach and the surrounding region.

    Wednesday, November 03, 2010

    When is the best time to list your Melbourne, Florida (Brevard County) home?

    Deciding when to put your house on the market is a critical decision.   Popular opinion is that the the spring is best based on the calendar with job transfers and many moves being plaanned for the summer.

    Another calendar issue: "the holidays."

    There are certainly challenges to marketing your primary residence during the final two months of the year, especially from mid-November through the first week of January.  But these challenges can be managed.

    I suggest prospective sellers consider two of the biggest reasons to go ahead and put their house on the market now:  (1) the uncertainty in the housing market (as well as the mortgage rates)  and (2) the potential for continued decline in values.

    None of us can predict the future.  Call me (email me) if you would like to discuss the current market in your neighborhood, especially Viera, Suntree and Rockledge, Florida.

    Gary L. Waters PLLC, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge, Florida serving Florida's Space Coast including the cities and communities of Melbourne, Viera, Rockledge, Suntree, Merritt Island, Cocoa Beach and the surrounding region.

    Grand Isle in Viera: Homes for Sale (and Rent)

    Grand Isle is one of Brevard County Florida's most desirable 55+ communities.  The Grand Isle gated community, located in Viera (Melbourne, Florida), is ideally situated in central Brevard County near several golf courses (including the Viera East Golf Course, Turtle Creek Golf Course, Duran Golf Club, Baytree National Golf Links), shopping, restaurants and medical facilities (new Viera Hospital).

    Grand Isle offers a relaxed 55+ lifestyle with clubhouse, pool, lawn service included and plenty of activity at very affordable prices. 

    As November begins there are 8 active listings in Grand Isle priced from $197,000 to $259,900.

    During October there were 3 properties that sold:
    • 1510 Lago Mar Dr $160,000 
    • 1645 Boca Rio Dr $185,000 
    • 1522 Keys Gate Dr $178,000
    There is also one house for rent in Grand Isle.  Located at 1602 Keys Gate Drive, it is a 3 bedroom 2 bath 2 car garage home for $1,350 a month.  Call me directly at 321-693-3850 for information on renting this home in Grand Isle.

    Gary L. Waters PLLC, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge, Florida serving Florida's Space Coast including the cities and communities of Melbourne, Viera, Rockledge, Suntree, Merritt Island, Cocoa Beach and the surrounding region.

    Tuesday, November 02, 2010

    Augusta Trace in Rockledge, Florida – Turtle Creek Golf Course Homes For Sale

    Augusta Trace in Rockledge, Florida offers homeowners a private, deed restricted, golf course community in an excellent central Florida location.  This one street (dead end, no through traffic) development winds through the Turtle Creek Golf Course and  features newer homes on large lots.



    Many of these homes are direct golf course lots while some back to ponds.  These larger homes (2,100-2700 sq ft with 3 car garages) featuring tile roof and paver drives with custom design touches close to beaches, Orlando and Viera!

    The headline for the October Market Report in Augusta Trace is…LOTS OF NEW LISTINGS IN AUGUSTA TRACE IN ROCKLEDGE! 

    Of the seven homes for sale in Augusta Trace, six were listed on or after October 1, 2010.  List price for homes these Turtle Creek Golf Course homes range from $289,900 to $389,900.  There is only one short sale so these are fair market value sales (one corporate owned relocation property)!

    For information on homes for sale in Augusta Trace as well as other central Brevard County gold communities like Duran Golf ClubBaytree National Golf Links and Viera East Golf Course, call me directly at 321-693-3850 or email me.

    Gary L. Waters PLLC, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge, Florida, serving buyers and sellers in Viera, Rockledge and Suntree, Florida.

    Heritage Isle (55+ community in Viera) Market Activity October 2010

    Heritage Isle is a 55+ community in Viera Florida.  If you are just beginning your research on Florida 55+ communities here are a few links to previous articles I have written.
    Now for a quick summary of the October 2010 real estate activity in Heritage Isle.
    • 26 active listings (single family homes) priced from $169,900 to $529,000,
    • 8 new listings in October 2010,
    • 5 short sales among the 26 active listings, 
    • Sq ft of active listings range from 1,594 to 3,255, 
    • Sold in October:  6955 Lovington Way, 1847 sq ft, 2 bedroom, 2 bath 2 car garage, listed at $216,900, sold for $208,000
    Although the price range shown above is rather large, it is worth noting that 17 of the active single family homes are priced below $230,000.

    For information on Heritage Isle, Grand Isle or Indian River Colony Club in Viera, Florida, please email me or call directly at 321-693-3850.

    ©Gary L. Waters, PLLC, Florida licensed real estate agent/Realtor®, Century 21 Baytree Realty, ROckledge, Florida.

    Sugar Coated Cookies, Good. Sugar Coated Real Estate Advice, Bad.

    Selling your house in Brevard County, Florida  is a challenge in 2010.  Real estate prices have gone down.

    For example, two years ago the average selling price in Viera's Indigo Crossing subdivision was about $197,000.  Over the past few months the average selling price in Indigo Crossing has been about $157,000.

    That is the reality of the Brevard County, Florida real estate market. 

    It does no good to sugar coat the reality when meeting with prospective sellers.  I am working with a gentleman now about listing his house in Indigo Crossing. The price will likely be about $150,000.  That is the reality of the short sale and foreclosure market in Brevard County.

    If you are considering selling your Brevard County, Florida house or condo, find a real estate agent who will tell it to you like it is!

    If your house or condo is in Viera or Rockledge, call me at 321-693-3850 or email me. 

    Sugar Coated Cookies.... Good.  Sugar Coated Real Estate Advice....Bad.

    Gary L. Waters PLLC, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge, Florida serving Florida's Space Coast including the cities and communities of Melbourne, Viera, Rockledge, Suntree, Merritt Island, Cocoa Beach and the surrounding region.

    Monday, November 01, 2010

    Short Sales: Sometimes Like Buying in a Seller's Market

    Short sales are sometimes like buying in a seller's market.  You see most short sales are priced at a discount when compared to other standard fair market properties.  The reasons, of course, is to entice a buyer to make an offer to get he negotiations started as well as attract a buyer who has the patience for the long process.  Short sales can take months for lender approval!

    Now, why are short sales similar to buying in a seller's market?  Because in a really attractive property multiple offers may surface!  I know of a case where a buyer submitted an offer on a short sale in Brevard County that was about 92% of the price the bank's previous counter price on another offer.  On many short sales the bank will tell the listing agent what they will take, thus the "bank approved price" that ends up in some listing narratives.

    In a declining market with unknown shadow market foreclosures, his was a reasonable offer.  When the list agent calls me up and advises we have another offer coming in, we know we have to give our best and final offer.

    The buyer asked me for my opinion.

    I told him that if it were my money I would let it ride because the offer we placed initially was a reasonable offer given the property and the competition.   Besides, if we lose that property, there is another short down the street! I found out later that the other offer never materialized so it would have been a bad move to increase the offer.

    If you are considering making an offer on a short sale in Brevard County, Florida,  remember your offer may not be the only one on the table.

    Gary L. Waters PLLC, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge, Florida serving Florida's Space Coast including the cities and communities of Melbourne, Viera, Rockledge, Suntree, Merritt Island, Cocoa Beach and the surrounding region.

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