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Tuesday, February 28, 2017

Chelsea Park Subdivision in Rockledge, Florida - Homes for Sale February 2017

Chelsea Park subdivision in Rockledge Florida offers homeowners deed restricted living in a centrally located development near everything.  With lower association fees than most of the nearby developments, its amenities (community park with outdoor basketball/playground) and proximity to several golf courses, its no wonder Chelsea Park is one of the most sought after communities in Rockledge.

Typical Look Chelsea Park
Chelsea Park is located near shopping centers, restaurants, medical facilities and excellent schools (Manatee Elementary in Viera, McNair Middle School and Rockledge High School (verify school boundaries here)).

Its location close to  to I-95 and US1 makes commuting from Chelsea Park to Melbourne,  Kennedy Space Center, Patrick Air Force Base or the beaches very easy.    Orlando and the attractions are also less than an hour away.

What is for sale in Chelsea Park? 

Currently there are six homes for sale in Chelsea Park.  List prices range from $280,000 to $395,000.  All of these are standard (fair market) sales.

Homes for sale in Chelsea Park appear to be broken into two categories.  Three are priced between $280,000 and $310,000 while the other three are priced between $374,900 and $395,000.

The separation point between these properties also could be "2,500 sq.ft." as the three lowest have less space and the others more.

Five of these homes offer four or more bedrooms.  Five also offer private in ground pools which is nice since there is no community pool at Chelsea Park (contributes to lower association fees).

What has recently sold in Chelsea Park?

There have been three homes sold in Chelsea Park since December 1, 2016 (past three months).

Homes sold included:
  • 316 Barrymore Drive sold for $230,000. This standard sale three bedroom two bath two car garage home was built in 2004.  This property is somewhat smaller than most of the other homes in the neighborhood with less than 1,600 sq.ft. under air.
  • 400 Stonehenge Circle sold for $335,000. Another standard sale, this two story home offered 3,708 sq.ft. under air and boasted six bedrooms and four full baths,  This 1999 built home also had an in ground pool and three car garage.
  • 374 Tunbridge Drive sold for $388,500. This 2003 built five bedroom four bath three car garage pool home was another larger property with 3,528 sq.ft. under air.
For information on homes for sale in Chelsea Park and Rockledge, Florida, call or text me at 321-693-3850 or send me an email
 
agent@moving2brevard.com

Monday, February 27, 2017

Plantation Point Subdivision in Rockledge, Florida - Homes For Sale February 2017

Plantation Point is one of Rockledge, Florida's most popular neighborhoods.  Located just off Barnes Boulevard (with easy access to major routes I-95 and US1), Plantation Point offers larger, newer homes in a location very convenient to  shopping, restaurants and several golf courses. major routes (US 1 and I-95).

Nearby medical facilities are plentiful with Wuesthoff Hospital in Rockledge and Viera Hospital both nearby as well as medical offices. 
Many major employers are within a short drive as well as the beaches and Orlando.  Association fees are less than many of the other newer neighborhoods as there is no community pool or clubhouse. 

What is currently for sale in Plantation Point?

Currently there are three active listings in Plantation Point. List prices for these listings range from $279,000 to $399,900 (other listing is $399,000). Two of these listings offer just under 2,000 square feet living area, the other just under 2,900 sq.ft. 

By the way I will have a new listing in Plantation Point that will be on the market in about two to three weeks (4 bedroom 3.5 bath pool home with about 3,200 sq.ft.).  List price should be in the low $400,000 range.

Email me if you are looking for a home in Plantation Point.

What has recently sold in Plantation Point?

Homes don't come on the market in Plantation Point that frequently (recent inventory in Brevard County market has been tight) so these sales occurred about seven or eight months ago.  

The most recent sales in Plantation Point (as reported in the Brevard MLS system) included:
  • 438 Wynfield Circle - 4 bedroom 3 bath 3 car garage pool with 2,507 sq.ft. under air home located on a pond sold for $425,000
  • 3990 Waterford Drive - 2,256 sq.ft. 4 bedroom 3 bath 2 car garage pool home sold for $347,000
  • 320 Pebble Hill Way - 5 bedroom 3 bath 2 car garage two story home with 2,692 sq.ft.  sold for $293,000.   
For information homes for sale in Plantation Point and other Rockledge, Florida areas, call or text me at 321-693-3850.

agent@moving2brevard.com

Saturday, February 25, 2017

Heritage Isle in Viera, Florida - Florida 55+ Community Market Activity February 2017

The 55+ gated community of Heritage Isle located in Viera (Melbourne, Florida) offers residents several choices of property style including condos, townhouses and single family detached houses. 

Presented below is a snapshot of the Heritage Isle real estate market as of today, February 25, 2017.

What is currently for sale in Heritage Isle?

Currently there are seventeen homes for sale in Heritage Isle.  Listing prices range from $259,900 to $414,900.   There is only one home priced over $400,000.  All of the homes for sale in Heritage Isle are standard sales.

Eight of the current listings in Heritage Isle are priced below the $300,000 mark.   All of these homes are three bedroom two bath two car garage homes built mostly in the 2005/2006 period.

What has recently sold in Heritage Isle?

Over the past six months there have been thirty five homes sold in Heritage Isle as reported in the Brevard MLS system.  Selling prices ranged from $216,000 to $445,000.  

Since February 1, 2017 there have been seven homes sold in Heritage Isle.  These recent sales ranged from $244,400 to $405,000.  Average selling price was just over $317,000.

A couple of the most recent sales included:
  • 6933 Premonition Drive - Standard sale, built in 2006, 2 bedroom 2 bath 2 car garage with 1,896 sq.ft. sold for $252,000
  • 7152 Rossi Way - Standard sale, built in 2006, 3 bedroom 2 bath 2 car garage with 2,015 sq.ft. sold for $255,000.
There were two other sales this week.  Both were new construction and sold for $383,000 and $405,000.  By the way, Heritage Isle is pretty much built out so anyone interested in a home in Heritage Isle will need to shop re-sales.

Read more about these three age restricted communities in central Brevard County, Florida  as well as about the differences between the 55+ communities of Viera

For information on homes for sale in Viera, Florida, call or text me at 321-693-3850.
agent@moving2brevard.com


Home Seller Tips: Should a Seller Price Home High and Negotiate Down Later?

Whether buyer or seller, it is always about price.   Any house will sell if you price it properly.   What does it mean to price a house properly?

What does it mean to not price a house properly?    Pricing a house properly should not be solely (if at all) based on things like...
  • what a seller paid originally plus a "profit."  
  • a neighbor's house that is "exactly like mine."  
  • Uncle Joe's advice or Felicia the office know-it-all.
What does it mean to price a house properly?

Most importantly consider the location, condition and competition.

Secondly, consider the circumstances of the sale.  This includes the type of sale (short sale, investment flip, estate sale, etc.).  

Consider the timeline.   Is there a need for a quick turn around?   Does a job transfer or school schedules necessitate a condensed process?   If the new home purchase is not contingent on a sale then pressure is lessened.

How can a seller know if a house is not priced properly?

Consider my 30-10-1 rule.  Simply put this means a house that is on the market for 30 days should have at least 10 showings during that time and at least one offer.   If the activity during the initial thirty days is short of that metric look at price.

Another metric I urge prospective Viera, Florida home sellers to consider - the golden period

What is the golden period?   The golden period is the initial 14-21 days when a new listing generates the most activity.   Of course if the price is right, in a market such as the Brevard County market, the property may be under contract with just a few days exposure! 

Can a seller price high and negotiate down?  That is a possible strategy.  But why?  A higher list price may mean fewer showings and a longer time before any offers arrive (if any).

I advise sellers to entice an offer by listing with an attractive price on day one.   But what happens if an offer comes in at a lower list price?  No seller is compelled to sell regardless of list price.  

Let me repeat that pricing fact:  Regardless of list price a seller does not have to accept any offer.  As opposed to the question in the title why not price lower and negotiate upward sooner?

The key to selling is having the right real estate professional put together the necessary market analysis and marketing plan, advise on preparation, timing and then, working with the seller, execute the plan. 

So while any house will sell it must be remembered that the market will set the price - not necessarily the seller.   Value is in the eyes of the buyer!

Thinking about selling your Viera, Florida home?  Call or text me at 321-693-3850.  Let me prepare a market analysis this week!

Ready to buy a home in Viera, Florida?  Let me help you.  I have been specializing in the central Brevard areas of Viera, Suntree and Rockledge for fourteen years!

agent@moving2brevard.com

Wednesday, February 22, 2017

Brevard County, Florida Residential Real Estate Market Report for January 2017

A quick recap of the Brevard County Residential Report for January 2017 compared to January 2016 - inventory down, prices higher.  

Details include....
  • Closed Sales are up 2.7% for January 2017 in which the number of units closed was 600 compared to 584 in January 2016, with a decrease in cash sales of -17.9% compared to January 2016.
  • New Pending Sales are up 5.6% and New Listings are up 16%.
  • The Median Sales Price for Brevard Single Family Homes is up 18.2% to $195,000 compared to a year ago, which was $164,950.
  • Months Supply of Inventory is down -10.3% at 2.6 months compared to 2.9 months in January 2016.
  • Traditional Sales are up 12.4%, with a median sales price of $200,000.
  • Foreclosure/REO Sales are down -43%, with a median sales price of $128,800.
  • Short Sale Closings are down -73.3%, with a median sales price of $285,500. 
Want to buy or sell a house in Brevard County (Melbourne, Florida)?  Call or text me at 321-693-3850. 

agent@moving2brevard.com

Brevard County, Florida Condominium Sales Report For January 2017

Provided below is a summary recap of the Brevard County Townhouses/Condos for January 2017 compared to January 2016:
  • Closed Sales are up 24.8% for January 2017 with 186 units closed compared to 149 in January 2016, with a increase in cash sales of 40.7% compared to January 2016.
  • New Pending Sales are up 15.3%.
  • New Listings are down -5.6%.
  • Median Sales Price for Townhomes/Condos is up 4.8% to $143,000 compared to a year ago, which was $136,500.
  • Months Supply of Inventory is down -5% to 3.8 months compared to 4 months in January 2016.
  • Traditional Sales are up 31.6%, with a median sales price of $144,000.
  • Foreclosure/REO Sales are down -41.7%, with a median sales price of $95,000.
  • Short Sale Closings are down -100%. Year-over-year data is not available as there were no sales in January 2017. The January 2016 median short sale sales price was $62,000.
Ready to buy a condo in Florida?  Call or text me at 321-693-3850.
 
 
agent@moving2brevard.com

Monday, February 20, 2017

Buying a Home in Viera, Florida: How Much Money Do I Need to Close? Where to start?

The home buying process requires a strategy... successful transactions don't just happen (usually).

Among all the considerations and concerns about buying the key one is almost always the finances. Let' face it, a home purchase is probably the most important financial decisions a person makes.

So how does a buyer formulate the best strategy for buying a home?

There are a couple of critical steps

The first is identifying a local knowledgeable real estate agent to guide them through the process.  The buyer's real estate agent does not cost the buyer anything so this step is an easy one.

The next step can be expensive if the wrong choice is made.... choosing a lender.  I suggest buyer's consider a lender they trust.  Start with your own current lender.  If they do not offer mortgages I am pretty confident they can refer to a lender they can trust. 

Another referral source - your buyer's agent!

Once a lender is contacted the lender can discuss the specific types of loan specific buyers should consider based on their credit history, needs and resources.

Your lender can help identify how much money will be needed for closing.

The lender will likely provide the information dealing with pre-paids and lender related closing costs (taxes, insurance (12 months home owner insurance, mortgage insurance, mortgage application fees, credit report fee, appraisals, etc.).  This information, combined with your agent's estimates, can provide a solid estimate of cost to close.

Your agent will be able to provide estimates for things like property inspection, septic system inspection (if not on sewer system), termite (WDO) inspection, survey.  

Some buyer costs like title insurance are negotiable.  Here in Brevard County, Florida it is customary for the seller to pay this for the buyer however this varies by location - even within the state of Florida.

All of these costs can add up.  Most of these inspection costs are money out the door regardless of whether the property sale closes

Understanding the type of mortgage being used will help guide the property selection process as certain condition issues may be acceptable with a conventional or cash purchase but will not fly with an FHA or VA loan!

So how much  money is needed for closing?  It all depends on the loan type, property type, location and purchase contract.

So if there is no specific answer what does one do if they want to buy a home in Viera, Florida?  Start with a good plan - call a local real estate agent!

Ready to buy a home in Florida?  Here are some key things to know...

Considering the purchase of a home in Viera or Melbourne, Florida?  Call or text me at 321-693-3850.  Want a local lender reference?  I will gladly help!

Ready to sell your Rockledge or Viera, Florida home?  Call or text me for your free market analysis.  Waters Realty of Brevard is a small office, delivering personalized results to the most experienced or inexperienced buyers and sellers.  Try us!

agent@moving2brevard.com

Thursday, February 16, 2017

Realities of Shopping For a Home in a Seller's Market

Shopping for a new home can be an exciting process.  It can also be a nerve wracking process when the market is one that favors sellers.  That is the current market in the Viera and Rockledge, Florida area.

Technically a seller's market is one in which the number of buyers is greater than the available properties from which to choose.   A common measure of a seller's market used by real estate professionals is a market where the available supply of homes for sale is less than a three month inventory.

The dynamics and processes are different in a seller's market.

First, sellers are less apt to negotiate on their list price.   In Brevard County, Florida a good general measure is the selling price is almost, about, somewhere near 95% of list price.

However, this can be much different. In some areas of the county as well as some neighborhoods and communities there may be little give or even a great deal of flexibility.  Remember the old adage about real estate .... location!

Second, good properties don't last long.  Notice I did not say good prices.  While the median days on market in Brevard County is around 30-35 days remember that means half are on the market less days.

Third, when you find the property act now.   If a buyer finds a house that meets their defined needs (budget, condition, age, location, size, school zone or whatever), it likely will meet somebody else's ideal as well.

Fourth, be prepared to buy on day one.  The time time get a mortgage pre-approval letter in hand is not after a house is located.  Not only does this cut down on competitiveness (cleanest offer with supporting documentation usually wins when there are multiple offers)  it also means a buyer is really not certain of their mortgage qualification status.

Five, don't ask for the moon!  This point is linked to the reference above about the cleanest offer.   Evaluate the issues and don't ask for trivial, less urgent things such as patching nail oles, painting rooms a different color, etc.  Depending on a buyer's circumstances there are certainly things that can be asked for such as closing cost assistance.  However, keep in mind that if there are other offers then this may be a negative.

The real estate agent in the model home or the listing agent with the sign out front work for the seller - not the buyer.  Get your own agent!   Remember you are not alone.  It is critical buyer's get their own real estate agent who understands the local market and the buyer's goals.

Here is a great little article on the Florida home buying process.... Contract to Close in Twenty Steps

Have a question about buying or selling a home in Florida?  Call or text me at 321-693-3850.

agent@moving2brevard.com

Tuesday, February 14, 2017

Home Buyer Tips: Are Builder Upgrades Worth It?

Like most things in life the answer depends on the circumstances.

If one is already committed to buying a new home and has already decided on the model and the upgrades are offered as an enticement to go forward then why not take the upgrades?

If the upgrades are add-ons to the agreed upon model with up charges then think twice.

My view of builder upgrades is much like the "options" car dealers like to throw into the price of your new car.   I know some options like pin striping have already been added so you can't easily opt out of those. 

I have seen a lot of these "Builder offers $15,000 in upgrades."  Look at these upgrades and the "free price."  Quite often the builder is quoting full non-competitive retail prices much like a car dealer with optional packages..

But with a house to be constructed the buyer is in charge - really.

Builders will negotiate.  Of course if it is the last model in a development like Heritage Isle in Viera there may be more competition among buyers and less give by the builder.

What is the secret to buying new construction from the builder?  First, get your own real estate agent before you go see the builder model.  

The reason - the builder representative works for (represents) the builder - not the buyer.  In Florida there is no such thing as dual representation so there can be no representation of both sides.

So why not get your own real estate agent when the builder will pay your agent's professional fee?  

Your real estate agent can even negotiate on your behalf if you desire.  Your real estate agent can guide you through the process to closing making key recommendations along the way including things like the often forgotten property inspection.  Yes, I do representative property inspections on new construction.

Important Point Here.....  Your real estate agent should accompany you on your first visit to the model center. 

One final general comment regarding the upgrades and builder options...Consider the disruption and additional hassles to have something done later.  If you are going to do it later why not go forward at construction?  

So are builder upgrades worth it?  Re-read sentence one above!

Ready to buy a home in Viera, Florida?  Call or text me at 321-693-3850 for a market report on your desired area and type of housing.

Need to sell your Viera, Florida home?  Waters Realty can do it for you with little hassle.

agent@moving2brevard.com

Thursday, February 09, 2017

Brevard County, Florida Real Estate Market Annual Summary 2016 vs. 2015

How was the 2016 Brevard County, Florida real estate market for buyers and sellers last year?  

The condensed version:  Median selling prices were up....single family home selling prices 15% to $185,000 and condo selling prices about 8% to $144,000.

The long version:   A quick recap of the Brevard County Residential Report for 2016 compared to 2015:
  • Closed Sales are up 0.7% for 2016 in which the number of units closed was 9,925 compared to 9,856 in 2015 with a decrease in cash sales by -19.1% compared to 2015.
  • New Pending Sales are down -4.9% and 
  • New Listings are up 0.2%.
  • The Median Sales Price for Brevard Single Family homes is up 14.5% to $185,500 compared to a year ago, which was $162,000.
  • Months Supply of Inventory is down -14.3% to 2.4 months compared to 2.8 months in 2015.
  • Traditional Sales are up 13.1%, with a median sales price of $193,000.
  • Foreclosure/REO Sales are down -52.5%, with a median sales price of $116,200.
  • Short Sale Closings are down -50.4%, with a median sales price of $120,000.
A quick recap of the Brevard County Townhouses/Condos for 2016 compared to 2015:
  • Closed Sales are down -2.4% for 2016 in which the number of units closed was 2,646 compared to 2,712 in 2015, with a decrease in cash sales by -11.7% compared to 2015.
  • New Pending Sales are down -4.7% and New Listings are up 3.1%.
  • Median Sales Price for Townhomes/Condos is up 8.3% to $144,000 compared to a year ago, which was $132,950.
  • Months Supply of Inventory is up 5.9% to 3.6 months compared to 3.4 months in 2015.
  • Traditional Sales are up 5.1%, with a median sales price of $148,000.
  • Foreclosure/REO Sales are down -54.4%, with a median sales price of $80,000.
  • Short Sale Closings are down -31.7%, with a median sales price of $79,500.
agent@moving2brevard.com

Tuesday, February 07, 2017

Grand Isle in Viera, Florida - Homes For Sale in Popular Florida 55+ Community in 2017!

The gated 55+ community of Grand Isle is located in central Brevard County along the Space Coast about 45 miles from Orlando.  While Grand Isle is not the largest of the three 55+ communities in Viera (about 340 homes) it is one of the most popular!

In fact Grand Isle usually does not have a lot of choices when it comes to homes for sale.  But right now looks to be the time buy a home in Grand Isle.   As 2017 gets started it looks like this is the time to shop 55+ communities in Viera, Florida!

What is for sale at Grand Isle in Viera?

Currently there are seven listings in the Grand Isle community.  I am not sure what is going on in Grand Isle but six of these homes were listed for sale in January 2017 and the seventh on February 1, 2017!

List prices of these homes range from $249,000 to $339,900.   Five of these seven listings are priced below $280,000

All of the homes for sale in Grand Isle are standard sales and were built around 2002-2002 (newest (2004).  Average list price is around $160 per square foot under air (range $134-$170).  Most of these listings are three bedroom two bath homes with two car garages which is probably the dominant floor plan in the development (some 2/2 and 4/3 built in Grand Isle).  There are also 4 homes under contract awaiting closing!

What has recently sold in Grand Isle?

Over the past six months there have been five properties sold in Grand Isle.  Selling prices ranged from $260,000 to $330,000.  All of these sales were standard sales and occurred prior to November of 2016.  Perhaps the holidays and New Year created a "time out" for sellers in Grand Isle in Viera

Homes sold over the past six months included:
  • 1371 Lago Mar Drive - 2,032 sq.ft. 3 bedroom 2 bath 2 car garage home built in 2003 sold for $260,000 on 11/15/16.
  • 1661 Lago Mar Drive - 2,034 sq.ft. 3 bedroom 2 bath 2 car garage home built in 2002 sold for $260,000 on 12/08/16.
  • 1710 Lago Mar Drive - 2,034 sq.ft. 3 bedroom 2 bath 2 car garage pool home built in 2003 sold for $270,000 on 08/31/16.
  • 1564 Boca Rio Drive - 3 bedroom 2 bath 2 car garage home built in 2004 offering 2,011 sq.ft. sold for $287,000 on 10/17/16.
  • 1557 Grand Isle Blvd - With 2,271 sq.ft. under air, this 2004 built 4 bedroom 3 bath 3 car garage home sold for $330,000 on 10/21/16.
Sunrise over Grand Isle - nice place to walk!
With association fees around $225 month living at Grand Isle is pretty relaxed.  Fees cover things like the gated entry, lawn maintenance, maintenance of exterior, community pool, club house plus pool, tennis, shuffle board and much more!  By the way, the residents own the clubhouse  and the monthly fee also supports the reserve fund.

Here are some additional articles on the 55+ communities in Viera.
My blogs have at least a hundred articles about the 55+ communities in Viera.  Many are market reports while others provide general information. Because these articles were produced over the past 8 to 10 years.  I recommend interested persons contact me directly for the latest information.  Call me directly at 321-693-3850 or text me your number and say call me!

For information on homes for sale in Grand Isle, Indian River Colony Club and Heritage Isle in Viera, call or text me at 321-693-3850.


agent@moving2brevard.com

Monday, February 06, 2017

Choosing a Real Estate Agent to Sell Your Florida Home

The first step when considering selling your Melbourne, Florida home is to hire your real estate agent.    I know from my past experience (before I became a real estate agent) that choosing the wrong agent can cost you real money... especially when you have to hire another agent when the first one failed!

What are some considerations in choosing your real estate agent?   First of all, I suggest interviewing at least three agents.   For most people selling a house or condo is a major financial decision and needs to be entered into with as much information as possible.  

Having multiple real estate agents provide information (much may be duplication) allows a seller to compare the person, knowledge base and personality.  Yes, personality is important as well since selling requires a lot of communication and contact!

Here are some questions to consider when interviewing real estate agents.   I suggest sellers start with general questions and then move on to more specific questions about the transaction. 

These general questions are like... 
  • How long have you been in business? 
  • When are you available? 
  • What days do you work?
  • What happens if you are sick or are unavailable due to unforeseen issues?
    What is your preferred method of communication?
  • When do you answer your phone?
    How often will you speak with me during this process?
    Where do your buyers come from? 
  • Will you be the agent who sells my house?
  • Why should I choose you over your competitors? (My answer is at the bottom of this post.)
The above questions skip over one point most sellers always ask up front. What are your fees? I say hold off until the agent answers your questions.  Evaluate the product before checking the price.

If these general questions have been answered to your satisfaction, move on to more probing questions targeting key areas such as...
  • Where do you work primarily?
  • What has sold in my neighborhood (area, similar communities, street, etc)?
  • What has not sold in my neighborhood (active, how long, price, withdrawn)?
  • Why did these properties sell or not sell?
  • How much can I get for my house?
  • How long will it take to complete the process?
  • How much will this process cost me?
  • How much do I walk away with?
  • Tell me about your marketing plan for my house.
A seller's goal should be to choose a real estate agent who understands the process is all about them and their goals period. 

Hiring the right real estate agent to sell your Melbourne, Florida home is critical.  Call or text me at 321-693-3850 to discuss how I can work for you to meet your goals.

Why choose Waters Realty of Brevard?  Because we are small (myself and Brian Waters, Realtor), experienced and we understand its all about you.  

Call or text me at 321-693-3850 to discuss selling your home and getting your free market analysis.

www.moving2brevard.com


Home Seller Tips: What Does Under Contract Really Mean?

Once a house is under contract the time to rest has not yet arrived.  While the major parts of the transaction rest with the buyer side there are still some things sellers should not ignore.

Number one on the list is maintenance.

Among the most important post-contract items is the property inspection.   Sellers need to remember that under contract is not sold!

All sellers should consider having a pre-listing inspection.   Proper pre-listing efforts can lessen the chance there will be issues found during the inspection. 

And if an issue is discovered during the pre-listing inspection then a seller has choices like
  • repair or mitigate in some way, 
  • disclose and price accordingly,  
  • and the never recommended ignore and hope!
Ignoring any repair issues (especially major systems like AC, plumbing, roof, electrical) and leaving it to chance without preparation is gambling with the entire transaction

Under contract does not mean sold.  What it really means is "maybe sold."  Under contract is a strong maybe.

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

Why choose a big office where you are just another seller when a small office, treating you special, can deliver the same results?

agent@moving2brevard.com

Saturday, February 04, 2017

Home Seller Tips: Consider the cost of rejecting that offer....

One thing is true about home sellers, regardless of location.... sellers want what they want!  And, if a seller is lucky, they get what they want! 

But the reality is the market sets the price. A house is worth only what a buyer is willing to pay for it (and a bank is willing to lend).

The issue for a seller to reconcile is when there is a difference between the "want" and "offer" amounts.

Sometimes the decision is very easy as in the case of a low ball offer.

But the challenge is when the offer is reasonably near the desired price.  In those cases a seller needs to take into account their circumstances, timeline and what is next.

If a seller has a timeline to move (as in a new job) then acceptance may be the best choice.  What is the old saying about a bird in the hand?

But if there is no urgency then a seller needs to weigh the benefit to be gained by holding our for a higher offer.   First of all, there is no guarantee a higher offer will come soon.  Also, what are the associated costs incurred by waiting?

The obvious costs include the current mortgage, property taxes, association fees, insurance, and utilities.  These carrying costs can add up - especially if a seller already has another property.

Then there are the unknowns like what can go wrong.  The AC may be fine today but what about next week or month.  There could be a plumbing issue.  During the summer in Florida it could be a storm or hurricane risk.  If a house is vacant then there is also the risk of vandalism in some areas.

Sellers should weigh the known monthly costs against the prospective gain for a later sale.

Finally sellers need to consider the uncertainty and hassle of continued showings. 

Sometimes a minimal gain may not be worth the time and effort....Consider the carrying costs!

Ready to buy a home in Viera, Florida?  Call or text me at 321-693-3850.

Ready to sell your Viera, Florida home?  Call or text me at 321-693-3850 for your FREE MARKET ANALYSIS.   Why deal with a big office when a small office delivering big results is a phone call away?

agent@moving2brevard.com


Thursday, February 02, 2017

Brevard County, Florida (Melbourne, Cocoa Beach, Palm Bay areas) real estate market for the month ending December 2016

Presented below is a summary of the Brevard County, Florida (Melbourne, Cocoa Beach, Palm Bay areas) real estate market for the month ending December 2016 compared to December 2015.  
 
The summary is divided into the single family detached home market and the condo and townhome segment.   Data provide by the the Space Coast Association of Realtors.
 
Key indicators for the December 2016 single family home market included:
  • Closed Sales - increased 3.1% for December 2016 with 833 units closed compared to 808 in December 2015.
  • Closed Cash Sales - decreased 15% compared to December 2015.
  • New Pending Sales - decreased 6.4%.
  • New Listings - dropped 3.6%.
  • Median Sales Price -  for Brevard Single Family homes went up 15.2% to $191,000 compared to a year ago which was $165,750.
  • Months Supply of Inventory - down  14.3% at 2.4 months compared to 2.8 months in December 2015.
  • Traditional Sales - up 11.8% with a median sales price of $195,000.
  • Foreclosure/REO Sales - down  47.4% with a median sales price of $137,500.
  • Short Sale Closings - down 57.9% with a median sales price of $113,875. 
Key indicators for the Brevard County townhouse and condo markets for December 2016 included:
  • Closed Sales - up 7.7% for December 2016 in which the number of units closed was 223 compared to 207 in December 2015 with an increase in cash sales of 9% compared to December 2015.
  • New Pending Sales - up 14.5%.
  • New Listings -down 5.5%.
  • Median Sales Price for Townhomes/Condos - increased minimally (.5%) to $145,000 compared to a year ago, which was $144,250.
  • Months Supply of Inventory is up 5.9% to 3.6 months compared to 3.4 months in December 2015.
  • Traditional Sales are up 9.8% with a median sales price of $147,000.
  • Foreclosure/REO Sales are down -38.5% with a median sales price of $62,000.
  • Short Sale Closings year-over-year data is not available as there were no sales in December 2015. The December 2016 median short sale sales price was $76,750.
For information on buying or selling a house or condo in Melbourne, Florida, call or text me at 321-693-3950.

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