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Thursday, June 27, 2013

Heritage Isle in Viera - New construction inventory low, Re-sale choices shrinking as well!

There will come a day when there are no new homes to purchase in Heritage Isle in Viera.  It happens in almost every development ever built.  I had a caller this week inquire about new construction duplexes in Heritage Isle.  They were excited about the prospect of buying in Heritage Isle.

Lennar Homes, the developer, offers patio style villas which are smaller than the duplex properties which typically are about 1,800 sq.ft with a two car garage.  Most of the patio style homes Lennar builds are smaller with 1,400-1,500 sq ft under air with a single car garage.

Viera Builders had been constructing the duplex properties but have just sold out according to a Viera representative I spoke with yesterday.  She indicated Viera Builders was finished with construction in Heritage Isle.

At this time there is one active half duplex listing in Heritage Isle - a 3 bedroom 2 bath 2 car garage short sale with 1,835 under air listed as a short sale.  There is also one re-sale patio style home in the MLS system - a 1,407 2 bedroom 2 bath 1 car garage home listed at $150,000.

As the market heats up the inventory of re-sale homes is shrinking.  Likewise, new construction inventory is limited.  Within the Heritage Isle community, as of this morning, there are only fifteen active listings including condo units!

My caller was disappointed by two things - no more new construction and prices had increased!

If you have considered selling your home and moving up, this may be the time.  Call me at 321-693-3850 if I can help in any way.






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