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Tuesday, December 14, 2010

Somerville in Viera (Melbourne, Florida) – Bargain Priced Homes in a Great Location

Located in Viera East is a development named Somerville. Once upon a time they built these homes (around 2002-2004) and sold them for reasonable prices for new construction in  Brevard County, Florida's  hottest place to call home – the new Town of Viera.

Then the real estate run up (or boom) happened.  Some of the homes were sold in 2005-2006 for over $350,000.  I saw some “flipped” for a quick $50,000 profit.

Then the real estate bust happened.   There are those who now must sell for much less than they paid.  There are some where the lenders have foreclosed.  There are some that have been or are being sold as short sales.

On the market at this time there are five Somerville properties priced from $145,000 to $214,900.  Forget about the highest priced home because it is $25,000 more and 500 sq ft smaller than the next lowest priced home ($189,900).  [I am sure any real estate agent showing homes for sale in Somerville will voice the same opinion to their buyers!]

There is a bank owned home offered for $179,000 (4 bedrooms, 2 baths, a pool, over 2,5000 sq ft).  There is a 3/2 with almost 2,000 sq ft on the pond for $145,000 – a short sale.   The deals in Somerville are there!  I have not listed all the homes for sale in Somerville - email me for a list.

Located near the excellent Ralph Williams Elementary School, across the street from Viera East Golf Course, just a short drive to the new Viera Hospital and The Avenues Mall…and more!

With bike trails, jogging paths, tennis courts, and more nearby, Somerville offers attractive opportunities for those looking to relocate to Brevard County, Florida!

A few of the recent sales in Somerville in Viera East include:
  • 5010 Somerville Dr: 2,019 sq ft sold for $126,000 on 09/28/10 [FORECLOSURE] 
  • 5150 Somerville Dr: 2,575 sq ft, sold for $157,000 on 09/30/10  [FORECLOSURE]
  • 1836 Sussex Ct::  1,994 sq ft sold for $186,000 on 12/10/10
A word about foreclosures:  The condition of a foreclosure is most often very different than a standard sale or even a short sale. This is usually reflected in the price so these are not apples to apples comparisons.

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