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Monday, July 25, 2016

What will $200,000 purchase in Brevard County, Florida in July 2016?

What will $200,000 purchase in Brevard County, Florida in July 2016? 

Here are a few samples of recent closed sales where the selling price was $2000,000 (+/- $5,000).  All of the below sales were listed as standard sales in the Brevard County Multiple Listing Service.
  • 306 N Roundtree Drive, Cocoa - 3 bedroom 2 bath 2 car garage pool home built in 1964 located on .21 acres sold on July 5, 2016 for $200,000.
  • 2418 Carriage Ct G1, Melbourne - 2 bedroom 2.5 bath 1 car garage townhouse with 1,680 sq.ft. located one block from the beach sold on July 15, 2016 for $200,000.
  • 3565 Finch Dr, Melbourne - 3 bedroom 2 bath 2 car garage 1989 built single family house with fireplace and in  ground pool sold on July 22, 2016 for $202,000.
  • 1725 Morning Glory Dr., Viera - 3 bedroom 2 bath 2 car garage 1994 built single family house with 1,366 sq.ft. under air sold on July 15, 2016 for $199,900.  
  • 1461 Talamore Lane, Viera - 3 bedroom 2 bath 2 car garage 2000 built with 1,600 sq.ft. under air sold on July 1, 2016 for $200,000.
  • 2150 Atlantic St. 412, Melbourne Beach - Located in The Breakers Condo, this 2 bedroom 2 bath 1 car detached garage condo with 1,215 sq.ft. sold on July 13, 2016 for $199,999.
  • 998 Dupont St., Palm Bay - 3 bedroom 2 bath 2 car garage with 1,444 sq.ft. and in ground pool sold for $199,000 on July 1, 2016.
  • 2606 Quail Trail, Titusville - 1 1982 built 3 bedroom 2.5 bath 2 car garage located on 1.1 acres sold for $203,000 on July 15,2016.
  • 6035 Serene Place, West Melbourne - 2012 built 4 bedroom 2 bath 2 car garage with 1,793 sq.ft. sold for $198,000 on July 7, 2016.
  • 1765 Timicuan Drive, Viera - Located in the gated Grand Isle 55+ community, this 2 bedroom 2 bath 2 car garage single family home was built in 2004 and sold for $198,000 on July 15, 2016.
For information on homes for sale in Brevard County, Florida please call or text me at 321-693-3850.

agent@moving2brevard.com


Friday, July 22, 2016

Brevard County, Florida Condo Market Overview June 2016

A quick recap of the Brevard County Townhouses/Condos for June 2016 compared to June 2015 as provided by Space Coast Realtors.
  • Closed Sales are down 3.3% for June 2016 with 264 units closed compared to 273 in June 2015 with a decrease in cash sales by 22.1% compared to June 2015.
  • New Pending Sales are down 18.3%.
  • New Listings are up 5.3%.
  • Median Sales Price for Townhomes/Condos increased 14.9% to $154,500 compared to a year ago which was $134,500.
  • Months Supply of Inventory went up 2.7% to 3.8 months compared to 3.7 months in June 2015.
  • Traditional Sales are up 6.8% with a median sales price of $157,000.
  • Foreclosure/REO Sales are down -67.6% with a median sales price of $84,250.
  • Short Sale Closings stayed the same with a median sales price of $32,500.
For information on buying a condo in Brevard County, Florida, please call or text me at 321-693-3850.
 
agent@moving2brevard.com
 

Brevard County, Florida Residential Real Estate Market Overview June 2016 vs. June 2015

A quick recap of the Brevard County Residential Report for June 2016 compared to June 2015 as provided by the Space Coast Realtors:
  • Closed Sales - Increased 9% for June 2016  with 1033 units closed compared to 948 in June 2015 with a decrease in cash sales by 10.5% compared to June 2015.
  • New Pending Sales - Down 8.3% 
  • New Listings - Up 4.4%.
  • Median Sales Price for Brevard Single Family homes - Up 11.8% to $189,925 compared to a year ago ($169,900).
  • Months Supply of Inventory - Down 6.9%  to 2.7 months (2.9 months last year).
  • Traditional Sales - Increased 22.8% with a median sales price of $195,000.
  • Foreclosure/REO Sales - Decreased 56.6% with a median sales price of $115,000.
  • Short Sale Closings - Down 50%, with a median sales price of $135,500. 
Brevard County, Florida remains a seller's market with prices increasing and inventory stable. 

agent@moving2brevard.com

Tuesday, July 19, 2016

Indian River Colony Club in Viera, Florida - Information and Market Report July 2016

Indian River Colony Club is an active 55+ community which, unlike the other two 55+ communities in Viera, Florida (Heritage Isle, Grand Isle), offers an extensive (total) maintenance program.   [Read about the monthly fees here.]
What is currently for sale at Indian River Colony Club in Viera?

Currently there are twenty four active listings in Indian River Colony Club.  Listing prices range from $139,000to $329,900.  Median list price fro homes on the market in IRCC is $179,000.  

The majority of the listings are priced under $200,000 (17 listings).  While square footage under air varies from just over 1,100 sq.ft. to more than 3,200 sq.ft. most properties are in the 1,900 to 2,100 sq.ft. range.  Most of the homes were built in the late 1980s and 1990s with just one being built in 2000.  

There are four homes under contract awaiting closing.

What has recently sold in the IRCC community?

In the past six months there have been twenty five homes sold in IRCC as reported in the Brevard MLS system.   Since June 1, 2016 there have been seven homes sold in IRCC.   

Selling prices ranged from $123,000 to $245,000 with the median sales price at $168,000. The most recent sales included 1855 Freedom Drive, a 1,952 sq.ft. 3 bedroom 3 bath pool home which sold for $245,000. 

On June 27, 2016 the home located at 960 Mayflower Avenue sold for $182,000.  This 3 bedroom 2 bath 2 car garage home was on the market for 81 days.

For information on homes for sale in Viera, Florida's 55+ communities, call or text me at 321-693-3850.

agent@moving2brevard.com
 

Monday, July 18, 2016

How To Be a Buyer in a Seller's Market

In a seller's market it often the swift who succeed.

The Brevard County, Florida residential real estate market is a seller's market.  A seller's market is simply a market where the inventory is less than three months thereby creating competition among buyers.

This is indeed a challenging time to be a buyer unless one is prepared in advance to be a buyer.

How does one "prepare to be a buyer?"

The first step is do the homework.  This means understand the buying process.  This means get your mortgage pre-approval in place and choose your buyer's agent as step one.

Your lender will discuss financing options, recommend loan products and provide a mortgage pre-approval letter.  In a seller's market a copy of the pre-approval should be submitted with the offer.  If a buyer is a cash buyer then a proof of funds statement should be provided.

Your real estate agent will help you focus your attention by assisting you with identifying your needs within the constraints of your budget and goals.

It is critical that "must have" characteristics be identified early on (size, age, price, school assignment area, etc.).   Just as critical  the "can't have" characteristics must be identified as well.

Now your real estate agent can find the homes that meet your critical criterion:
  • budget
  • must have characteristics 
  • can't have characteristics.
With limited inventory homes that meet the above criteria must be evaluated as soon as possible.  Limited inventory often does not provide the luxury of lining up homes to see next weekend or whenever.

Check Out This Related Reading: 

One final word about buying in a seller's market...  Waiting to see just a few more homes after finding "the one" that meets your criteria may result in losing "the one."

agent@moving2brevard.com

Friday, July 15, 2016

Duran Golf Course in Viera, Florida - Homes For Sale - Market Report July 2016

Fairway Lakes at Viera is one of two communities that offers custom built executive homes on the Duran Golf Course.  The other is Wyndham at Duran which has a manned gated entry with homes priced a higher (around a million dollar plus or minus) as most are custom built, with larger lots and more desirable views.

Fairway Lakes at Viera is convenient to Viera High School, shopping and restaurants at The Avenues Viera, Viera Hospital, Brevard Zoo and much more.

Fairway Lakes at Viera offers a central location with easy access to I-95 with Orlando less than an hour away.

What is for sale at Fairway Lakes at Viera?

Currently there are five homes for sale in the Fairway Lakes at Viera development.  List prices range from $539,900 to $655,000 (new construction).

The median list price of homes for sale in Fairway Lakes is $599,900 which is close to the average list price of $597,800.    Home sizes range from 2,989 square foot to 3,401 square foot.

All of these homes were constructed between 2007 and 2016 with most built after 2012.  All are standard sales and share some similar characteristics like tile roof, brick paver driveways, pools and much more.  There are also three homes under contract awaiting closing.

What has recently sold in Fairway Lakes at Viera?

Over the past six months there have been six homes sold in Fairway Lakes at Viera as reported in the Brevard MLS system.   Selling prices ranged from $515,000 to $600,000.

The most recent home sold in Fairways Lakes was 3097 Lamanga Drive which sold for $580,000 on June 30, 2016 as reported in the Brevard MLS system.  This four bedroom three and a half bath pool home with a two car garage was on the market for only 14 days and sold for about 92.8% of original list price ($624,900).

For information on homes for sale in the Duran Golf Course area of Viera, call or text me at 321-693-3850.

agent@moving2brevard.com

Tuesday, July 05, 2016

Tralee Bay Subdivision in Melbourne, Florida - Neighborhood Information and Market Update July 2016

Tralee Bay Estates in Melbourne, Florida is a gated community within a gated community offering luxury Tuscan styled homes in central Brevard County, Florida.

Located within the gated Capron Ridge community, Tralee Bay offers new and newer construction homes in the $300,000 to $4600,000 target price.

Other neighborhoods in Capron Ridge include Dunraven, Cottages of Ashford Harbour, Ashford Harbour, Gallaway Glen, Dublin Manor, and Cashel Village.

Convenient to the beaches, I-95, several top quality golf course and shopping, Tralee Bay is close to superb schools as well as medical facilities.

If one is considering Viera area luxury, gated communities then Tralee Bay should be included.  Tralee Bay is indeed a hidden secret among Viera's luxury gated communities.  Builders within Tralee Bay include Lifestyle Homes,  DiPrima Custom Homes, Monarch Homes.

Some of the common features in Tralee Bay homes include tile roof, paver driveways, waterfront and preserve views available, larger lots (average lot size is about 75 feet wide by 120 feet deep).

Amenities in Capron Ridge such as clubhouse ( featuring a serving kitchen,fireplace, card room,and TV seating area.), heated resort style pool. An expansive resort-like outdoor veranda has a heated lap pool, palm tree lined deck area and umbrella shaded tables with lake views.  

Also there is a tot lot, picnic pavilion, soccer field, beach volleyball, basketball,tennis and shuffle board..  Capron Ridge has miles of private walking trails including lighted sidewalks, docks, bridges, and
wide pathways throughout lakes and sanctuary areas.

What is currently for sale in Tralee Bay?

Currently there are only  two homes for sale in Tralee Bay with list prices in the $400 - $420,000 range.  Both of these homes are re-sales with just over 2,200 sq.ft. under air (smaller floor plans for Tralee Bay).  Currently there are also three homes under contract awaiting closing.

What has recently sold in Tralee Bay?

Over the past six months there have been eight homes sold in Tralee Bay.   Selling prices ranged from $333,000 to $529,950.   Homes ranged in size from 2,000 to about 3,000 sq.ft. under air.   The most recent sales in Tralee Bay included:
  • 1263 Tralee Bay Avenue - 2016 built four bedroom four bath three car garage pool home with 2,907 sq.ft. under air sold on May 24, 2016 for $485.000.
  • 1343 Tralee Bay Avenue - 2012 built with w,787 sq.ft. offering four bedrooms three baths  sold for $439,999 on April 13, 2016.
  • 1293  Tralee Bay Avenue - 2016 built with 2,870  sq.ft. offering five bedrooms three baths sold for $468,950 on March 21,2016.

Useful Links For New Melbourne/Viera Residents:

Brevard County Schools K-12
Trash Curbside Collection & Disposal
Capron Ridge HOA Documents
Brevard County EEL Program
Destination Brevard
National Hurricane Center
FPL
City Of Cocoa Utilities
Voter Registration
Brevard County Animal Services
Brevard County Animal Services Pet Laws

For information on homes for sale in Melbourne, Florida, call or text me at 321-693-3850.  

agent@moving2brevard.com

Saturday, July 02, 2016

Pricing Your House at the High End of the Market: The Pros and Cons

While on a recent listing appointment the prospective seller had much different opinion on the value of their home.   This is not unheard of in real estate. 

During these listing appointments a real estate agent owes it to their prospective customer to voice reservations and concerns about the property and pricing.

Listing appointments are meant to allow honest straightforward discussion.  They are not meant to be antagonistic (mine aren't) but rather serve to gain an understanding of motivation, goals, and the subject property. 

Selling a home involves three principle activities:  preparation, pricing and presentation (Read more about The Three Ps).

Pricing too high can kill a listing as it lingers on the market with little interest.  Too many days on the market sends a message that there is something possibly wrong or that a seller is not motivated. Still in a rising market such as the Brevard County, Florida market it is quite OK to be price optimistically.

As long as the reasonable optimism is understood that it comes with a cost.  Sellers sometimes forget about the carrying costs associated with pricing high or holding out for more money.

What are these carrying costs?

Things that have easily identifiable dollars and sense include items such as
  • Mortgage principle and interest
  • Taxes
  • Association fees
  • Insurance
  • Utilities
Some carrying costs are not as easily assigned a specific dollar value but they are still a "cost."  These may include items such as identified but they are just as real..
  • Time.  Coordination of showings, leaving for showings, having routines interrupted, etc.
  • Energy.  Keeping the house ready for showings, etc.
  • Risk.  Risk of loss through theft, someone being injured on your property, etc.
  • Stress.  Especially if there is tight finances or a long distance move or change is family situation involved.
  • Time value of money.  
Get the best price possible for a seller's home understandably important.  Recommending a price that will work is key.  As a Realtor it is my job to market in such a way as to get the most money possible for a home's condition and seller's goal. 

That includes making sure a seller understands the pitfall of pricing too high.

Ready to sell your Viera, Florida home?  Call or text me at 321-693-3850 for your market analysis.

agent@moving2brevard.com

Image courtesy of Stuart Miles at FreeDigitalPhotos.net

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