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Monday, December 31, 2012

Baytree Golf Course Home For Sale in Isles of Baytree - Price Reduced

Baytree Golf Course Home For Sale in Isles of Baytree

Search current inventory of Homes for Sale in Baytree Golf Course Community

 

Listing Details

Baytree Golf Course Home For Sale in Isles of of Baytree

8071 Kingswood Way, Melbourne, FL 32940
Price:  $189,000
MLS Number: 652414
Bedrooms: 3
Bathrooms: 2
Square Footage: 1639

Call Gary L. Waters at 321-693-3850 to see if this property is still available and arrange a showing.

Great opportunity to own this single family detached home inside one of Melbourne, Florida's most exclusive gated communities - Baytree National Golf Links.  This 2002 built home looks like it was built more recently!  Enjoy the club house, exercise center or the community pool.

Just a short drive in your golf cart for a round of golf on the Gary Player designed five star Golf Digest rated course.   Oh yes, don't worry about the lawn or landscaping as your monthly association fees will take care of that for you!  Screened porch overlooks preservation area.

Click here for more images of 8071 Kingswood Way, Melbourne, FL 32940.

Baytree Golf Course and the surrounding communities are located in the very popular planned unit development of Suntree.  For information on the Suntree Master Association, click here.  There are several more golf courses in the surrounding area to choose from including Duran Golf Course in Viera, Viera East Golf Course and the private Suntree Country Club.

Check out what else is nearby in the Suntree area of Brevard County, Florida.

For information on other homes for sale in the Baytree, Suntree and Viera area.

Saturday, December 29, 2012

Where are home prices going in Brevard County, Florida?

There is an old song that goes something like "How long has this been going on?"  It was recorded by a group called Ace way back in the 1970s.

Some changes are subtle especially in an area like home sales prices and values.  The trend takes a while to really become common knowledge.

I have spoken with many buyers and sellers who have been sitting on the fence for quite a long time waiting for the perfect time to jump.  With mortgage rates near record lows and increasing rental rates, home buying is making much more sense now than in the past years.

The two charts below show trend lines for Brevard County as well as several of the areas within the County (Rockledge, Merritt Island, Melbourne, Titusville).



Florida Median Sale Price


Florida Median Sale Price


So where are home prices going in Brevard County, Florida?  No one knows for sure what the market will be in three months or six months.  The same can be said about interest rates.  We can only know for sure where it is today.

When you are ready to buy or sell a home in Brevard County, Florida, call me at 321-693-3850 or send me an email to discuss the current market conditions

SEARCH THE MLS FOR HOMES FOR SALE IN BREVARD COUNTY, FLORIDA






Friday, December 28, 2012

If you got your mortgage pre-approved…great! Now, Freeze!

I received a call from a buyer lead yesterday whom I had shown a couple of properties last week but he had not yet gotten pre-approved for a mortgage.

His news - mortgage pre-approval done[This is different from mortgage pre-qualification which means little!]

Excellent.

Now my advice to him.... "Freeze!" Don't do anything but pay your bills!

Once an applicant has "passed" the mortgage pre-approval process all that is left to do is find the right property to purchase.

And in the interim it is important prospective buyers not do anything that impacts their credit rating/score negatively.  Some of these things include...
  • Don’t change jobs, 
  • Don’t apply for a new credit card, 
  • Don’t make a major purchase like that new car, 
  • Don’t help someone else by co-signing on their loan,
  • Don’t do nothing.  
To many of us the mortgage process is a great big unknown.  Some things may not impact your loan approval at all but why take the chance?

And if you get in a bind speak with your lender's representative.  Keep them in the loop as well.

If you are considering buying a home in Viera, Suntree or Rockledge, Florida call me at 321-693-3850 or send me an email.




Thursday, December 27, 2012

Home Buyer Tips - If it is a cash deal, why waste money with an inspection?

Cash is good.  Money does talk.

The ability to pay cash for a house or condo gives a buyer options.  Depending on the property it may even provide leverage in the price and negotiation process. 

A cash transaction can close very quickly on Florida.

Still, even if you can pay cash, there are some things you should not skip in the purchase process just because it is not required.   Things like these steps....
  • Property Inspection.  Remember this home buyer rule - Just because the seller says the home is in good shape, does not make it so.   A home inspectors tell the buyer the current state of the property.
  • Appraisal.  Even if you are paying cash I believe an appraisal be a condition of the sale.  If a home will not appraise the bank will not lend the money?
  • Survey.  Regardless of how long a seller has been the owner it is wise to know where your property line really sits.  Yep, that fence may have been sitting there for years but does that make it the border?
  • Termite Inspection.  Again, common sense.  This is probably the least expensive of all these items!
  • Finances.  Study the association finances. Know how many owners are delinquent in their dues.  Find out about the reserves and planned major capital projects.
  • Association Documents.  Again, you are required to receive these documents and offered an opportunity to review the documents.  Do it.  Consult an attorney if you have questions. Do not rely on an Association Board member or your future neighbor to interpret the documents.  Your real estate agent is not an expert on association rules.

Unfortunately, because most of the above are optional in a cash transaction some may be tempted to forgo some of the most critical steps in the home buying process.





Wednesday, December 26, 2012

Should I update my home to sell it or not?

I have been in several houses recently where the owners have put in what must have been at least a $20,000 master bathroom re-model or a kitchen re-model when the house itself is only worth $75,000 to maybe $90,000. 

And I had to ask myself…why?

There is a limit to what a buyer will pay in all neighborhoods

If the homes in the neighborhood are selling for $85,000 then a twenty thousand update project seems like a waste of money.

Notice I said update not required repairs.

Simply put…these may likely be what is called an over-improvement.

Over improvements can be something as simple as adding a room (square footage) making the property have more gross living area than all of the surrounding properties.

Or it may be having a higher quality and finish than the neighborhood standard.

So if you are considering making some changes to your home in Brevard County, Florida before you sell it, call me to discuss the selling price of similar homes.

Then, with facts in hand, you can evaluate the return on the investment.

Email me for information on buying and selling homes in Brevard County, Florida.

Depending on the project it may be better to go ahead and sell your home as it is or make less expensive upgrades.

Sunday, December 23, 2012

How to sell your home? It is about the "senses."

Preparing a home for the market is work - sometimes hard work.  

Let's face, most homes are lived in not potential features in some fancy home magazine.  Very rarely will a quick vacuuming do the trick.

Serious home sellers should start at the curb and end in the back yard.  Take a good look at your home through the eyes of a strangerBe critical of what you see because, based on my experience, prospective buyers will certainly be critical.

Consider things like...  
  • Landscaping. Your yard needs to look appealingRemember, first impressions are key.  
  • Roof appearance. If the roof has issues, either repair it or price accordingly (and always disclose). 
  • Driveway.  Could it benefit from a pressure washing (or maybe the entire house).  
  • Exterior paint.  Faded?  Cracks in the stucco surface from settling?  Algae or mildew from the sprinklers?  Remember, first impressions.
  • Front door.  This is the gateway to your product. (Yes, your house is a product competing in the market place with other similar products.) A fresh coat of paint always helps.  And, if the paint is fine, check for dirt Remember, first impressions.
  • LightingOpen, bright, cheerful.  Enough said.
  • Smell.  Yes, the nose is key.   Jokingly I like to say "if you can smell it, you can't sell it."  A lot of truth here.  Remember, first impressions.
  • ClutterSimply put, do you have too much stuff?  And this goes for the kitchen counters as well.  Out away all those small appliances and things that take up all your counter space.
  • Pictures.   Take the "you" out of your house.  Your portraits, artwork by the grandchildren, trophies and things like that may distract the prospective buyer from noticing all your home offers.
  • Interior paint.  Something that can be easily changed should not be a deal stopper.  But many buyers will be so turned off by the highly personalized (non-neutral) paint they will fail to give your home a chance.  Remember, first impressions.
  • Safety.  Think about trip hazards, security issues like personal weapons.  Think about small items that could be stolen.  Think about personal paperwork an identity thief may grab.  Real estate agents very often do not know their customers more than casually.  This is key if your agent holds an open house with unaccompanied strangers entering your home.
  • The "check up." If your home is more than a few years old then perhaps a pre-listing home inspection is useful.  If problems are identified, you can either fix them or disclose them and price accordingly.
Selling your home is all about the "senses."  Just as the eyes are impacted by lighting, the olfactory senses are key as well.  And whether the prospective buyer makes an offer on the most important sense of all - reasoningDoes your price make "cents?"

This is not an all-encompassing list of items to consider when preparing to sell your Brevard County, Florida home but it is a good start There may be other areas to consider such as updating some of the key spaces in your home like the kitchen or bathrooms.

When you are ready to sell, please consider letting me work with you.  Call me at 32-693-3850 or email me  
 


 

 

Friday, December 21, 2012

Why sell your home during the holidays?

Today was supposed to be “THE” last day according to the Mayan calendar.

I guess it was wrong. Surprise!  We are still here.

And the good news for sellers...so are home buyers.

The real estate market is very competitive and sellers should seek every advantage available - including the holidays.   

Actively marketing your home in December does create additional burdens but your advantage will be the buyer pool. 

Who are these buyers? 

Buyers shopping for a home in December are most likely serious buyersIndividuals who are changing jobs may search for a home so the kids can start school in January.  


If you are actively selling your home during the holidays, you will be taken seriously as well!


As the end of the year approaches remain flexible with showing requests because these folks are serious, I assure you!

Search the MLS for Melbourne and Viera, Florida Homes for Sale.





Thursday, December 20, 2012

Short Sales in Brevard County, Florida–What the past 12 months show (Dec 2011–Nov 2012)

Earlier this week I wrote about the risks associated with short sales as the market improves (read this as rising prices, increased demand).

What is really happening in the short sale market in Brevard County?

Here is a look at the previous 12 months residential short sale activity (December 2011 through November 2012). Monthly data has been combined into three month averages to provide a general picture.

Over the previous six months list and sales prices have both climbed.  Of the 2825 residential listings in Brevard County only 385 are short sales (13.62%).

Take a look at these numbers and if you are thinking of buying or selling a short sale in Brevard County, Florida call me at 321-693-3850.   The market is changing so this may be the time to act!




Wednesday, December 19, 2012

Brevard County Real Estate Market Update November 2012

Earlier this week I wrote about the risks associated with short sales as the market improves with rising prices  and increased demand

But outside of the short sale segment what about the over all Brevard County, Florida real estate market improving?   Below is a snapshot summary of Single Family Home data provided by the Florida Realtors® for Brevard County. [Percentage in parentheses is difference from November 2011]

  • New listings in Nov 2012 – 851 (+5.5%)

  • Pending Sales in Nov 2012 – 658 (+39.1%)

  • Median Sales Price – $122,000 (+16.2%)

  • Average Sales Price – $153,197 (+9.8%) 

  • Inventory of Homes for Sale – 2,521 (-42.8%) 

  • Months Supply of Inventory – 3.8 (-50.0%)


As the new year approached there will be plenty of predictions.  No one knows for sure although past performance and trends are usually good indicators of future performance.   2013 is being predicted to be a comeback year for the real estate market. 

If you are considering buying or selling a house or condo in Brevard County, Florida, the time may be right to get started!

Search Homes for Sale in Brevard County, Florida

 







Tuesday, December 18, 2012

As real estate markets improve, are short sales riskier?


Short sales have always involved risk.  Risk for the buyer the lender will not approve the offer.  Risk for the buyer the seller will not accept the lender's terms for approval (deficiency issues).  Risk that, if approved by all parties, the appraisal will come in low.

Short sales involve multiple opportunities for failure.

It is because of that probability the offer price on short sales is usually much lower than market value.

So it makes sense to expect a discounted price, right?

But as the market slowly recovers what happens if 3-6 months down the road your offer price is rejected because the new "comps" show an improved market?

In a declining market, the buyer faced the risk of a loss in a long drawn out short sale process.  But the times are changing.

Short sale buyers should anticipate the potential hurdles when making their offer.  Sometimes the best option is to forgo the short sale route and buy a fair market property.

If you are considering the buying or selling a short sale in Brevard County, Florida, give me a call at 321-693-3850 if I can help in any way.

Search homes for sale in Brevard County, Florida.











Monday, December 17, 2012

“Do you see what I see?”

“Do you see what I see?” are words from a traditional Christmas song called “Do you hear what I hear?” 

In real estate it is interesting and very common to have buyers and sellers look at the same house but not see the same house.

It was Henry David Thoreau who opined “It’s not what you look at that matters, it’s what you see.”

Some sellers see all the great things their home offered them through the years.  They may not see the things that don’t last forever like the shag carpet or the avocado green appliances that still work.

Some sellers with pets may not notice the pet smell.  Or heavy smokers who don’t notice the smell or the yellowing stains on the ceilings.

Buyers and sellers see the same house but what they see is so different - especially when it is time to make an offer.

As a real estate agent I offer buyer prospects many listings to for their review.  Then they decide which homes for sale in Brevard County, Florida they want to view.

It is not for me to “review and decide” but rather offer an opportunity to look and see themselves.

Ready to buy a house or condo in Florida?  Call me for a list of homes for sale that meets your criteria.

Search Brevard County, Florida Homes For Sale.


If you are thinking of selling your Brevard County, Florida house or condo, call me for a free market analysis.





Sunday, December 16, 2012

Baytree Golf Course Home For Sale in Isles of Baytree

Search current inventory of Homes for Sale in Baytree Golf Course Community

 

Listing Details

Baytree Golf Course Home For Sale in Isles of of Baytree

8071 Kingswood Way, Melbourne, FL 32940
Price:  $190,000
MLS Number: 652414
Bedrooms: 3
Bathrooms: 2
Square Footage: 1639

Call Gary L. Waters at 321-693-3850 to see if this property is still available and arrange a showing.

Great opportunity to own this single family detached home inside one of Melbourne, Florida's most exclusive gated communities - Baytree National Golf Links.  This 2002 built home looks like it was built more recently!  Enjoy the club house, exercise center or the community pool.

Just a short drive in your golf cart for a round of golf on the Gary Player designed five star Golf Digest rated course.   Oh yes, don't worry about the lawn or landscaping as your monthly association fees will take care of that for you!  Screened porch overlooks preservation area.

Click here for more images of 8071 Kingswood Way, Melbourne, FL 32940.

Baytree Golf Course and the surrounding communities are located in the very popular planned unit development of Suntree.  For information on the Suntree Master Association, click here.  There are several more golf courses in the surrounding area to choose from including Duran Golf Course in Viera, Viera East Golf Course and the private Suntree Country Club. 

Check out what else is nearby in the Suntree area of Brevard County, Florida.

For information on other homes for sale in the Baytree, Suntree and Viera area.




Saturday, December 15, 2012

Isles of Baytree–Affordable Golf Course Living in Melbourne, Florida

Isles of Baytree is a gated community within the Baytree National Golf Links communities in the Suntree area of Melbourne, Florida. 

The Isles of Baytree community features amenities such as a clubhouse, exercise facility, community pool all in a gated 4 star Golf Digest rated  Gary Player golf course development.

Isles of Baytree homeowners pay about $500 per quarter for association fees which cover things such as lawn service, pool care, common area maintenance,security.  

Most of these early 2000s custom built homes have tile roof and two car garages located on zero lot line lots (about .15 acres is average).

The exercise facility, tennis, playgrounds, biking and golf course, offers residents superior Florida golf course community living with plenty of outside things to do!

With several superior Brevard County public schools nearby, shopping, restaurants, and the new Viera Hospital  Baytree provides an attractive opportunity for those looking for gated Florida golf course living!

For information on Florida golf course homes for sale including Duran Golf Course in Viera.......






Why do buyers reject your house when you know it is perfect?

Home Seller Tips - When Buyers Reject Your House. 

Rejection is something faced by all home sellers.... unless the very first buyer prospect who walks in your front door buys the home.

So what does that rejection really mean?

It really could mean nothing.   Many times buyers are just tire kickers.  They are not serious yet.  They may be considering moving to Florida.

They may be considering a job offer but fist want to check out what they can afford to buy and things like the Brevard County Florida Public Schools.   Depending on the time of the year they could snow birds thinking about full time versus part time residency.

So, rejection could really be nothing at all.

But the rejection may signal a real issue.  It may mean your house just doesn't show well (think about curb appeal, staging, clutter and yes, even state of cleanliness).  It may mean your price is just not as good as the other one.  It may mean your home is really nice but they want "move in" ready not one that requires some immediate repair work.

If you are lucky you will receive constructive feedback from the buyer's agents.  Life has taught me that rejection  is part of living.

As a seller you have a choice on how to handle the rejection?  You can be angry and refuse to believe they were so blind to pass up the ideal house for the ideal price.

Or, you can address any issues that may be perceived as hurdles to a contract. 


When you are ready to buy or sell a home in Viera, Suntree or Rockledge, Florida please give me a call at 321-693-3850 to discuss how I can work with you! 
 


Friday, December 14, 2012

Real Estate Data - The stats are not real....

I read an article in this morning's Florida Today newspaper about national foreclose rates.  The headline was something like US foreclosure recovery outpaces county rate.

Apparently Florida has led the nation three months running with the most foreclosure activity (most recently in November 2012).  Seven of the top ten spots in the country were in Florida with Brevard County being number one.

But these statistics, if taken alone, do not represent the complete picture.

But real estate stats are just stats.  They must be interpreted within the context of the total market.

If one were to look at the foreclosure activity my guess is they would find homes that have been vacant for a long time, perhaps years

My guess is some were part of bankruptcy proceedings long ago discharged.  Some of the foreclosure filings likely include homes that have been for sale as short sales with a current pending contract.

Some may take this headline to mean Brevard County, Florida is nothing but foreclosure homes for sale!

The big picture is this.... Only 299 residential properties for sale today is listed as a foreclosure (almost 11% of the 2,805 listings).  And only 411 of the active residential listings is a short sale.

With so much real estate data available online these days, everyone is seemingly an expert. Stats are just stats that must be interpreted!

Considering selling your Viera, Suntree or Rockledge home?  Call me at 321-693-3850 for a free market analysis.



 

Thursday, December 13, 2012

Home Seller Tips - Sellers and Real Estate Agents Need to Sing the Same Tune!

Last Sunday afternoon I was changing my guitar strings.  The guitar did sound kind of rough.

I made a comment they needed changing because my singing was being detracted by their loss of quality.  Of course I was joking as I have no singing talent.

Then I thought about sellers who are changing their real estate agent.

Why are they changing?

Is their agent not contributing to their favorite song "We want this much money?" and "Why are they not coming?"   

Or, is their agent humming a tune about "This is it....this is the price" and they want to sing to hear their tune?

Sometimes the problem is not really the problem.

If your listing is about to expire I urge you to consider the real issues - price, preparation, presentation, marketing, etc

I changed my strings and my voice still squeals the same.

Some change their real estate agents only to reprise the "Why are they not coming!"

Increase your chance for success by singing the same song as your agent.  Selling your home is a duet. 

Actually, with all the players involved in a closing, it is more like a choir.

What does a home seller want to hear?

How does a seller know their real estate agent is doing  a good job?  The most effective evaluator is the receipt of an offer!

A seller can get a feel for how well their agent is doing by the number of showings.  No showings or few showings indicates there is a problem.  The likely source - the price.

And when activity is brisk sellers want feedback - the stuff the buyer prospects are saying about their home after they walk out the door.

I advise sellers the likelihood of getting feedback is low (about 25% in my experience).  The likelihood of getting useful feedback is even lower!

As a Brevard County, Florida real estate agent I give feedback although the details vary greatly.

First of all,  if my buyer is interested the feedback is generic.  If a property is definitely off my client's short list, the feedback may be more direct.

Some real estate agents I have spoken with think they are doing their clients a disservice by giving any feedback.  I am not one who believes the buyer is being done a disservice by honest feedback - to a point if there is no interest in the property.

And if my buyer wants to tell a seller something I think may harm their potential offer I warn against doing so.

Sometimes the feedback can signal a pending offer.  I have run into a few agents who start criticizing everything from the color of the sky to the color of the grass.  In my experience these are  signs they are preparing to make an offer - usually a low ball offer!


I am not going to intentionally give excessive negative feedback to improve a potential position in negotiating.  If there are indeed major negatives they will be presented with the offer.

So what does a seller want to hear?  A full price offer is coming.

What does a real estate agent want to hear?  If it is not that an offer is coming then please give me an idea on what we can do to improve our chances of getting a buyer?

Ready to sell your Viera, Suntree or Rockledge, Florida home?  Call me to discuss how I can work for you.  If you prefer, send me an email!


Wednesday, December 12, 2012

What does selling your home and Starbucks have in common?

Recently I read an article that announced the Starbucks Metal Card.  This $450 card will be made of steel ($50 cost) and comes loaded with $400 on the account.

As they are making 5,000 of these exclusive cards.  I am assuming they know there is a market for them although pretty limited.

And they know where their market will find their offering – on the luxury web site www.gilt.com.

When selling your house it is also critical to know who your target market is and how to most effectively reach them.

When interviewing your real estate agent the answer to this question is crucial.

The most effective market plan is one that targets your potential buyer pool…a sign in the front yard, an open house and a MLS entry may not do it.

When you place your home on the market you can be relatively certain of the eventual selling price and who your buyer will be.

Ready to sell your Brevard County, Florida home? 

Call me at 321-693-3850 or email me.   I will gladly tell you your eventual selling price (free market analysis).


Tuesday, December 11, 2012

A question all buyers ask….”Why are they selling?”


It is a rare occasion when a buyer prospect will not ask “the question.”   It seems most are of the opinion the “why” is the key answer to the seller’s motivation.

Why do people sell their homes, especially during the holidays?  There are as many reasons as sellers I am sure. 


Some are selling to move up to a larger home before the prices rise anymore. Some are selling because of a job transfer.

Some are selling because it is time to retire to a golf course community or maybe a beach condo.  Some are selling to move in with grown children who will be providing much needed care.

And then there are the short sales. The short sale, by definition, is being pursued because of some hardship.  The hardship may be unemployment (or new under employment). The short sale may be a major illness or even the death of the key bread winner. The sale may be because of a divorce. 

And, in the case of a foreclosure, the stories may be very similar.

As the holidays approach this should be a cheerful time.  But, for some, this may not be the case.

So, as you shop for that new home, when you ask me that question I will try to get you an answer. 

But the story behind the sale is not always a happy one.



Monday, December 10, 2012

Is an “MLS entry only” listing the best way to save money when selling your home?

“MLS entry only” listings are exactly as the words say – an entry in the multiple listing service with no seller representation whatsoever.  Basically this a FSBO (For Sale By Owner) where the owner has already agreed to pay a commission to any real estate agent who brings the buyer.

I realize there are some real estate companies willing take à la carte listing where the seller can choose what type of support they desire and the fee for those services.  This is not something I have ever done.

A seller wishing to go “MLS entry only” must know the process.  They must be willing to handle all phone calls, accommodate all appointments, negotiate contracts, verify buyer ability to purchase and coordinate the entire closing process.  They likely will want to be present for all showings.

Unlike a FSBO the "MLS entry only" seller does not have as much risk with the safety issues- provided they schedule all appointments with the buyer's real estate agent and ask for identification when they arrive for the appointment.

So is the "MLS entry only" the way to go to save a lot of money?  The monetary savings are not that significant vs. a full service listing.  Keep in mind... ALL REAL ESTATE FEES (COMMISSIONS) ARE NEGOTIABLE IN EVERY TRANSACTION.  THERE IS NO STANDARD.

Let's make this example easy. A home is on the market and being sold for $100,000.  The buyer's agent will receive a 2.5% commission.  The "MLS entry only" fee was $500.  This is just a figure pulled out of the air since I have always had a full service listing agreement.

A full service listing agreement is where the seller's agent promotes, markets, negotiates for the seller and guides the process to the closing table.  More importantly, the knowledge the agent provides in preparation fro marketing may save a seller thousands.  In this example the entire fee is 5% split equally.

Based on this example the real estate fees for an "MLS entry only" closing would be $3,000 while the full service arrangement would be $5,000.

The questions sellers must ask themselves include things like the value of their time.  Is the time required to handle calls, arrange appointments, be present for showings worth it?

And what is the sellers timetable?  If a real estate agent can handle the details and get a transaction closed in 45 days, is the savings worth it if they are making a mortgage payment?  [I have taken 45 day listings before, ask me.]

Further, is their knowledge of the process sufficient?  Are they going to pay an attorney as well to review the real estate contracts?   Is the savings of an "MLS entry only" listing worth the difference.

These are questions sellers must answer when they decide to sell their home.   Do they "FSBO" it?  Or maybe go with an "MLS entry only" arrangement or work with a full-time full service real estate professional?

If you are considering selling your Brevard County, Florida home, call me at 321-693-3850.  Lets talk about the process.  You may in fact be an "MLS entry only" candidate or even a FSBO.






 

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