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Tuesday, November 10, 2015

As the End of Year Approaches Do You Sell Your Home Now or Wait?

As the end of 2015 approaches do you sell your Melbourne, Florida home now or wait until after the beginning of 2016?    

With the current residential market inventory in Brevard County tight the intensity of competition among buyers may get greater as the holidays and early 2016 months approach.

During the holidays and winter there are fewer sellers BUT the buyers who are looking are serious.  If you are ready to sell your home use the time of the year to your advantage

How is the Brevard County market?  Just last month the median days on the market was 29 days with sellers getting almost 95% of original listing price. 


On the other side of the transaction as the end of the year approaches should you wait to buy a home?

This is not where I am going to say "interest rates may go up."   A shift in interest rates can decrease purchasing ability and/or, at a minimum, increase mortgage payments or purchase costs.

This is not where I am going to say "there are tax advantages to buying a home."  The sooner one buys, the sooner the tax benefits begin to accrue.

This is where I am going to say prices are going up.  

Homeowners are gaining equity while buyers will be paying more.
  • In December 2014 the median sales price for single family homes in Brevard County was $135,900...September 2015 it was $172,250.
  • In December 2014 the average selling price was $179,781.  In September 2015 the average selling price was up to $215,041.
I recently spoke with a first time home buyer about Florida first time home buyer programs with assistance.  The funds for first time home buyers are not necessarily going to be there months from now (or next month for all I know).  

Want information on the First Time Home Buyer Program For Brevard County, Florida?  Email me and I will put you in contact with a mortgage lender who can give your details

Or, as a first time home buyer customer of mine experienced last summer (to his favor) the program benefits changed.  My recommendation to first time home buyers, use the program's significant contribution if you can get it! 

Ready to sell your Melbourne, Florida home?  Call or text me at 321-693-3850.  I want to work for you!

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