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Sunday, December 28, 2014

November 2014 Real Estate Sales by Zip Code for Brevard County, Florida (including Melbourne, Viera, Cocoa Beach, Palm Bay)

The below table provides a breakdown of residential sales (single family detached, condos and town homes) for Brevard County, Florida by zip code for the period of November 2014 including Melbourne, Viera,Palm Bay and Cocoa Beach areas.

Data provided by Florida Realtors.
 

For information on homes for sale in Brevard County, Florida, please send me an email or give me a call at 321-693-3850.




Saturday, December 27, 2014

Homebuyer Tips: How many homes should my real estate agent show me in one day?

How many homes should I expect my real estate agent to show me on one day? 

First of all, if a buyer has researched their target area and have clearly identified their needs, wants and budget, the number of homes viewed during the entire home search should not be that high.   One of the key resources in market research is your local, knowledgeable real estate agent.

If a buyer is new to an area or has yet to have a clear understanding of their needs then the number of homes to be viewed will likely grow.

Ideally,  I prefer to limit the number of homes viewed in any one day to no more than five or six.

There are several reasons for limiting the number of properties viewed in one.  First of all, it can be overwhelming if too many homes are seen in one day.  There is a point when confusion creeps into the day with buyers mixing characteristics of several homes.    If prospective buyers are also managing youngsters throughout the day then distractions can become an issue as well.

Another challenge with scheduling too many homes in a single day is the difficulty in modifying the schedule.

Sometimes homes are crossed off the list within minutes of arrival.  In this case the schedule becomes compressed which is not a problem as long as all the properties to be seen are vacant.   However, if homes are occupied then it is difficult to modify the schedule on short notice.   The goal is to minimize disruptions to all parties by arriving at the scheduled time.  (I prefer to schedule showings within a one hour window which does allow some flexibility.)

Finally, there can be a confusion factor.   While most buyers take notes while viewing homes there is a point where the characteristics (good or bad) seem to blend together.

Still I will show on occasion as many as ten to twelve homes in a single day.  These occasions usually involve one or more of the following:
  • Located close together with minimal drive time between properties. 
  • Vacant with no special considerations like restricted hours, pets, etc.  
  • Buyers are from out of town or have limited availability to see properties.   
  • Time of the year, especially summer, when the days are longer there is more available daylight,   to 5-6 in a day. 
Most buyers I have worked with do not want to see fifteen or twenty plus homes.   They want to see a few that meet their needs including age, school assignment areas, size, construction/design, budget and the like.   If I have done my job well we should find a home after one or two trips out (10-12 total homes seen at most).

Ready to buy a home in Melbourne, Florida including Viera and Suntree?  Call me at 321-693-3850 or send me an email if I can help in any way.

gwatersc21@aol.com


Tuesday, December 23, 2014

Distressed Sales, Single Family Homes Brevard County, Florida in November 2014

The chart below shows the percentage of traditional (fair market) single family home sales in Brevard County, Florida  continues to rise as a percentage of all sales (74%) while foreclosures account for about 22% of single family sales.

With only 24 short sale closing in November 20 it is obvious short sales will eventually be the exception in single family home sales in Brevard County, Florida.


The above data provided by the Florida Realtors®.

Condo Sales Brevard County, Florida - November 2014: Prices Higher, Inventory Lower

The below table shows the November 2014 condo sales in Brevard County, Florida compared to November 2013 sales as reported by the Florida Realtors®.


While the November single family home sales in Brevard County  saw a decrease the November 2014 condo sales showed an increase in the median and average sales prices.  With the inventory level down to just over four months the market appears to be shifting to favor the sellers.

For information on buying or selling a condo in Brevard County, Florida, please give me a call at 321-693-3850 or send me an email.


Single Family Home Sales - Brevard County, Florida - November 2014

Here is a summary of the November 2014 Single Family Home Sales in Brevard County, Florida compared to November 2013. 


Data reported by Florida Realtors®.

For information on homes for sale in Brevard County, Florida, please send me an email or give me a call at 321-693-3850.

Thursday, December 18, 2014

Whether Buyer or Seller, This Real Estate Rule Never Changes!

Who has never experienced a situation where what we saw was viewed totally different by another?   (The same can be said for what we hear.)

Yesterday as I was driving along I-95 in Brevard County I saw a billboard.  This billboard was not just any billboard but one I had noticed before.  It was located behind an old listing I had in Viera about eight or nine years ago.

This particular property had a few negatives - particularly a location that backed to a very noisy interstate highway.   And then, even if the highway noise was not an issue, there was a billboard not far from the backyard.

But my seller's comment when I pointed out the potential negative about the billboard stated it was not really a problem except when it was lit at night.   when I had a listing about six or eight years ago.But its not really a problem....

And then I was showing homes last week in central Brevard County. This particular house had a nicely fenced backyard but on the other side of the fence was a huge ditch along a dirt road.  My buyer felt that because the ditch was currently about half full of water it could be an ongoing mosquito issue.

After receiving my client's feedback the owner related through their agent that the ditch was not really a problem as the county sprayed the ditch routinely for mosquitoes.

These two cases illustrate a real estate rule that will never change... your view depends on which side of the transaction you find yourself.

When you get ready to sell your Brevard County, Florida  house or condo, put yourself in the place of a prospective buyer.  Look for potential issues from their perspective.

If it can be fixed, do it or price accordingly.  If it can't be fixed, expect prospective buyers to notice it.   And, when noticed, the buyers will either walk away or address it with a lower offer price.

When you are ready to sell your Viera, Florida home, please give me a call at 321-693-3850 or send me an email for your free market analysis.

Image courtesy of Stuart Miles at FreeDigitalPhotos.net

Monday, December 15, 2014

Negotiation Strategies in a Shifting Market

The residential real estate market in Brevard County, Florida has shifted to a buyer's market as the inventory has dropped to a three month supply of homes on the market.

I have past customer who is always looking for an investment project home.  He emailed me last week about one that he had piqued his interest.  I responded that it was under contract after four days on the market.  His response was simple..."These people are too quick!"

As the real estate market continues its shift to a seller's market negotiation strategies must shift as well. 

It is simple economics that a limited supply and steady demand will result in rising prices.  It is inevitable.

Knowing the competition among buyers is more fierce the notion a seller will accept a large discounted offer should fade.  Of course, this is where your local real estate agent has the knowledge about specific properties which may be the exception.

Here are some related articles about negotiation and offer strategies.
A key component of the negotiation process (whether buyer or seller) is to know what a lost deal worth.   Is the one or two thousand dollars difference worth going through the whole process again?  What is the saying about a bird in the hand?

Ready to buy or sell a home in Viera, Florida?  Call me at 321-693-3850 if I can help in any way.

Send me an email for a free comparative market analysis.

http://www.moving2brevard.com/LISTINGS

agent@moving2brevard.com

Saturday, December 13, 2014

Home Seller Tips: The Keys to Success

You have decided to sell your Viera, Florida home.  While the process may seem complicated there are only two major keys to success.
  1. Making sure your product is in the best possible condition to compete.  
  2. Hire a real estate agent who will insure success.
Here are some articles that discuss preparing to sell your home:

agent@moving2brevard.comThe above articles provide some insight into preparing your home for the market.  Your real estate agent should be able to provide specific advice that relates directly to your home....ask!

If you are considering selling your Melbourne, Florida home, please give me a call to discuss how I can work with you. 

agent@moving2brevard.comCall me at 321-693-3850 to request my free comparative market analysis or send me an email.


Friday, December 12, 2014

Should You Sell Your Brevard County, Florida Home During the Holidays?

For most folks the Christmas season is one of the busiest times of the year with  traveling, visitors, shopping for gifts, decorations, parties, children's school programs and you name it going on.

Although time is limited if you are considering selling your Brevard County, Florida home this is still one of the best times to put it on the market. 

The most compelling reason to sell your Brevard County home now is the decreased inventory.   Buyers are competing with one another resulting in multiple offers and increasing prices.

We all know selling your home disrupts your lifestyle.   Some may not not want the "hassle"  of having showings scheduled and strangers romping through their home with gifts everywhere.  I completely understand.  But there are ways to work around these interruptions such as restricting showings to specific hours or days?

Buyers are out there during the holidays out of necessity.   

Buyers shopping for a home in December are serious buyers - not casual lookers taking a break from the local mall traffic.  For those facing a job transfer at the end of the year, the holidays create an added challenge to an already stressful season.

But what if I don't want to move during the holidays?   Most closings take 30-45 days from the contract date to close.  Even if you get a buyer in December the likely closing date will be the middle to end of January.   Besides, the seller and buyer must agree on a closing date as part of the contract process.

Still, if the holidays are not a good time to sell consider spending some time getting your home prepared for the market and be ready to go in early January?

If you are considering selling your Viera home  in January lets get moving.    Call me at 321-693-3850 if I can help in any way.

agent@moving2brevard.com

Thursday, December 11, 2014

Viera, Florida 55+ Communities: Inventory Down in December 2014

The number of single family homes for sale in Brevard County, Florida is down to about a three month supply (2,050 active listings this morning).   The decreased inventory will likely result in continued increase in prices and multiple offer situations.

One of the markets that this lower inventory will squeeze is the 55+ communities including Viera's three 55+ communities:  Heritage Isle, Grand Isle and Indian River Colony Club.



The current single family home inventory in Viera's 55+ communities stands at 27 today (12/11/14).  The listing prices range from $130,000 (IRCC) to $414,900 (Heritage Isle).

By the way the inventory is down in Viera's 55+ communities with Grand Isle only having one current active listing ($225,000) and thirteen for sale in Heritage Isle.
Read here:  December 2014 Heritage Isle Market Report (Inventory and Recent Sales).

Indian River Colony Club only has thirteen active listings with prices from $130,000 to $329,000.   The highest priced home is not the norm for IRCC with all other listings priced at or below $195,000.

There have been six homes sold in Indian River Colony Club since November 1, 2014.  Selling prices ranged from $108,000 to $165,000.

Anyone considering moving to Brevard County should take a look at Viera.   Its central location is ideal for commuters to Melbourne, Kennedy Space Center or even Orlando.  Viera offers great shopping, easy access to Orlando, lots of recreational opportunities, excellent schools for families with children, several golf courses(4 nearby), easy access to Patrick Air Force Base, restaurants, the Brevard Zoo and health care facilities including the newer Viera Hospital. 

For information on homes for sale in Viera, Florida including the 55+ communities if Indian River Colony Club, Heritage Isle and Grand Isle can call me at 321-693-3850 or send me an email.

gwatersc21@aol.com

Wednesday, December 10, 2014

Heritage Isle in Viera, Florida - Market Update December 2014


Currently there are fourteen single family homes for sale in Heritage Isle in Viera.  Heritage Isle is Viera's Florida's newest 55+ community.

List prices of homes for sale in Heritage Isle in Viera range from $209,900 to $414,900.  Five of the homes for sale in Heritage Isle are priced below $250,000. 

An indicator of rising prices rising seems to be that half of the homes for sale are priced above $300,000 - something not experienced over the past few years. 

gwatersc21@aol.comWhile Heritage Isle is a 55+ community and many of the residents are retired the size of the homes are not downsized.   Of the fourteen homes for sale in Heritage Isle eleven are larger than 2,018 sq ft under air.  (The largest is 3,255 sq ft).  There are also three homes under contract at this time all priced above the $250K price point.

Five properties sold in Heritage Isle since December 1, 2014.  One of these sales was a patio style home (2 bedroom/2 bath/1 car garage) which sold for $155,000.  Two of the four single family detached homes sold were new construction with similar sales prices of about $240,000 (currently in last phase of new construction).   The other two sold for $252,000 (1,988 sq ft 4BR/3BA/2 Car Garage) and $280,000 (3BR/2BA/2 car garage with 2,317 sq ft).

How do single family home sales in Heritage Isle compare to last year?  As 2014 nears its end here is a summary of Heritage Isle single family home sales in 2014 (through December 9, 2014) vs. single family home sales in 2013.

                                        2014                     2013
Total Sold                         66                         80
Average Sales Price     $253,541              $228,210
Percent of List Price         98                         97
Days to Close                   76                         98
Days on Market                38                         61

For information on homes for sale in Heritage Isle in Viera, Florida, please give me a call at 321-693-3850 or send me an email.


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