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Friday, October 27, 2017

Choosing Your Brevard County, FL Real Estate Agent, Mortgage Lender and Other Providers when Buying or Selling a Home

If a person does not buy and sell a home often then familiarity with the process and providers is less likely

Just the simple process of choosing a real estate agent requires research in some degree whether Internet searches, signage viewed or even inquiry to others.  How one chooses a real estate agent can vary greatly although my opinion is personal referral is probably most reliable.

But what about the other providers involved in a real estate transaction?

The first provider that needs to be consulted (after choosing a Realtor) is the lender.  In Brevard County, Florida I get asked frequently which lender I recommend.  

During my fifteen years experience I have seen some lenders who work better with some types of buyers/loans.  And lately there has been one online lender that has provided tremendous service.

I also have had personal experience with several Brevard County, Florida financial institutions including banks, credit unions and mortgage brokers.

Do I have some Brevard County lenders who are not on my "go to" list?  Like most real estate agents with more than a few closed transactions I certainly do.  While I don't volunteer these up front I will share when asked directly.

There are other providers in the real estate transaction where buyers seek direction including survey company, property inspectors and insurance companies.

Two of these are pretty straight forward - surveys and insurance.  

Survey companies are dealing with verifiable facts and insurance companies have rates  even with some variance (although specific influences like structure, credit, etc can vary between companies).

My experience with property inspection companies has varied greatly.   When listing a property I have no say so on he particular inspection.  But experience has demonstrated how smooth things will go!  When I work with buyers I provide a list of inspection companies as well as advise further research. 

Do I recommend a specific company?  Not really.  I will offer who most of customers use and who I have personally used.

The most important player in your home purchase process is the real estate agent selected.  Experience and local knowledge should be the major factors.  That local knowledge should also include a network of local providers to help make the process of buying a home as pleasant as possible.

The key point:  I like to tell buyers that a house is priced low for a reason.  The same goes for other services.  The cheapest is not always the best.

Ready to buy or sell a home in Melbourne, Florida?  Call or text me at 321-693-3850. 
agent@moving2brevard.com

Monday, October 23, 2017

Home Seller Tips: Your Price reflects this...and Not this....

I received feedback on one of my listings recently and it was very short.... “needs too much updating.”  While I do not necessarily agree with this assessment I understand something which is much more important.

This person has an unrealistic expectation for properties in this price range.

A home's price is a reflection of multiple factors.

Foremost among these characteristics is its condition.

Beyond condition the price is impacted by the very important, unchangeable characteristic - location.  Who has not heard those words about real estate and location?  It is a simple truth.  You can not change the zip code!

What are some of the other factors impacting a home's price?
  • Seller motivation.  Is one testing the waters or really desirous of selling? 
  • Circumstances.
  • Competition.
Notice the above comments do not include several other factors seller's want considered heavily when deciding a listing price:
  • What was paid plus any maintenance/updates. Buyers expect a home will be taken care of by the seller.  (If not, then the factor is consideration under condition mentioned above). 
  • What the neighbor got for their house (Although its condition, price, date of sale, circumstances, similarities, etc. may be used as a factor with the generation of comparables).
  • Incentives to other real estate agents.  (The incentive should focus on the buyer.)
Here are some related articles about pricing strategies to sell your home:
For information on buying a home in Rockledge, Florida (or Viera), please call or text me at 321-693-3850.


agent@moving2brevard.com

Sunday, October 22, 2017

Selling Your Viera Home: Does Offering Incentives Really Work?

A recent listing in the local MLS system included agent remarks (not public) stating that a "buyer's agent must bring buyer within 15 days and must pay full price to receive bonus."

The current Brevard County, Florida real estate market is a seller's market.  The median days to contract in August 2017 for single family homes was only 25 days (to close, 67 days).   

That simply means half the single family homes are under contract in just over three weeks.   If a property is is listed reasonably close to market then a buyer will arrive in short time.

So why offer a real estate agent an incentive (bonus)?

In the situation mentioned above the bonus offered is $1,000.  While that is not pocket change to me I don't see the incentive as a reason to automatically recommend a full price offer.

As for the above, if a full price offer was indicated by the comps, then what is the need for an incentive/bonus?

So do incentives work when selling your home?

Yes.....

 if they are offered to the buyer AND the incentive is built into the price.


Some buyers as well as real estate agents may interpret incentives as a sign of desperation.

As for closing cost assistance my experience has been that if a buyer does indeed need closing costs assistance it is often part of the offer any way so why give it way?  I have seen many times where sellers will include an incentive in the listing of "$XXXX flooring allowance (or whatever).

Why offer up discounts in the listing when any offer will take into consideration the issues when making an offer?

As for incentives I believe the best incentive is to price for condition, location, competition and seller motivation.  When a seller does that, an offer will come at a reasonable price in a reasonable time period.

For information on buying a home in Rockledge, Florida (or Viera), please call or text me at 321-693-3850.


agent@moving2brevard.com

Monday, October 09, 2017

Indian River Colony Club in Viera, Florida - Homes For Sale - Market Report October 2017

Presented below is a market summary for Indian River Colony Club, a gated 55+ community in Viera, Florida.

There is a noticeable price difference in home prices within IRCC and the other 55+ communities in Viera (Heritage Isle, Grand Isle)

It is important prospective buyers understand Indian River Colony Club is a private country club with an extensive maintenance program for each home.  Indian River Colony Club is a not-for profit corporation and not a homeowners association.  

The monthly fees are higher than the other 55+ communities because they include country club dues, club minimums and the extensive maintenance program for each home.   Read all about Indian River Colony Club here.

What is currently for sale in Indian River Colony Club?

Currently there are nineteen properties listed as actively for sale in the Brevard MLS system. All of these homes are offered as standard (fair market) sales.

List prices for these homes range from $135,000 to $289,000.  Most of these homes were built between 1988 and 1994 although there is one home that was constructed in 2017 (new construction is rare within IRCC).   Median listing price is $174,500.

Home sizes offered vary from a 1,179 sq.ft. 3 bedroom 2 bath 2 car garage home to 2,368 sq.ft. for a 3 bedroom 2 bath 2 car garage home. 

Properties in IRCC vary greatly in price based on numerous factors such as location (golf course direct, water, proximity to club house, etc), size and whether there has been recent/major updating or renovation.

There are also another five properties under contract awaiting closing.

What has recently sold in Indian River Colony Club?

Over the past six months there have been thirty two homes sold within the IRCC community. Sales prices ranged from $100,000 to $303,500.  All of these sales were reported as fair market sales in the MLS system.  Median sale price over the previous six months was $170,000.

More recently there were nine properties sold between September 1, 2017 and October 10, 2017 as reported in the MLS system. Sales prices ranged from $100,000 to $300,000 with a median sales price of $165,000.  Of the three highest priced homes sold a couple were built in the late 1990s as well as having major updates and renovation.  All nine sales were recorded as cash transactions


For information on Indian River Colony Club in Viera, Florida call or text me at 321-693-3850.   While there is a real estate office on site it represents sellers as in their is no dual representation in Florida.

Have your own real estate agent accompany you on your first visit or inquiry so you are represented.  It costs you nothing to have your own real estate agent... and the peace of mind it offers!


agent@moving2brevard.com

Indian River Colony Club in Viera - Sometimes Peace of Mind is Most Important


Indian River Colony Club is a gated 55+ community in Viera, Florida.  But Indian River Colony Club (IRCC) is not just any central Florida 55+ development.

IRCC is a lifestyle.

I was speaking with a resident of Indian River Colony Club this past weekend and he related what he likes best about "Indian River".... the peace of mind it offers!

Read my October 2017 market report for Indian River Colony Club here.

First, a little background on IRCC and the 55+ communities in Viera, Florida.  Indian River Colony Club is one of three age restricted (55+) communities in the planned unit of Viera (located north of Melbourne, Florida).   Still, Indian River Colony Club is different from the other two communities (Grand Isle and Heritage Isle).
 
Founded in 1986 IRCC is a gated community of about 800 homes and features a lot of the benefits people are looking for when choosing a 55+ community in Florida including a 24 hour manned gated security entrance, a tremendous clubhouse and private 18 hole golf course.   

Of course there are many more amenities like tennis, heated pool, organized clubs, a chapel and much more. 
 
Indian River Colony Club offers retirement living in the best place in the world - near central Florida's beaches.   Orlando International Airport is about 45 minutes away, medical offices, VA Medical Clinic and the new Viera Hospital are nearby.  

Shopping and restaurants are convenient as well the Maxwell King Center for Performing Arts, cruise ships at Port Canaveral and much more! 
 
Here is the peace of mind the resident referred to in our conversation...  While the facilities offered are superb the a major appeal of Indian River Colony Club is  the worry free advantage of true maintenance free living.
 
While the IRCC community is older than the other 55+ developments older does not mean inferior as a large percentage of the homes in IRCC have been updated by the owners through the years!

For information on Indian River Colony Club in Viera, Florida call or text me at 321-693-3850.   While there is a real estate office on site it represents sellers as in their is no dual representation in Florida.

Have your own real estate agent accompany you on your first visit or inquiry so you are represented.  It costs you nothing to have your own real estate agent... and the peace of mind it offers!


agent@moving2brevard.com



Friday, October 06, 2017

Grand Isle in Viera, Florida - Homes For Sale October 2017 - Gated 55+ Community


Typical style of Grand Isle Home
The gated Grand Isle  55+ community in Viera , Florida offers those looking for a gated, relaxed Florida lifestyle lots of choices in single family homes.  

With home sizes ranging from smaller two bedroom unit(1,500 sq.ft. range) to well over 3,000 sq.ft. there is something for anyone looking for their Florida retirement home.

Although smaller than the newer Heritage Isle community (west of I-95), Grand Isle offers a seemingly quieter community with equal access to shopping, golf, medical facilities and more.


Sample Style of Home Found in Grand Isle

What is currently for sale in Grand Isle in Viera?

Currently there are nine homes for sale in Grand Isle.  List prices range from $250,000 to $439,900.  Only three of the listings are over $296,000.  All of these homes are fair market sales.  Most of these properties are larger homes with only one under 2,011 sq.ft. (1,545 sq.ft. 2/2). 

The majority are 3 bedroom 2 bath 2 car garage homes in the 2,000 sq.ft. range.  All were built between 2001 and 2005.
 

What has recently sold in Grand Isle?

Over the previous six months there have been ten homes sold in Grand Isle.   More recently there were three homes sold in August 2017 


All of these transactions were standard sales. and included:
  • 1392 Keys Gate Drive - 2001 built 2 bedroom 2 bath 2 car garage home with 1,545 sq.ft. sold for $242,000.
  • 1574 Boca Rio Drive - 2004 built 3 bedroom 2 bath 2 car garage home with 2,009 sq.ft. under air sold for $262,000.
  • 1576 Grand Isle Drive - 2003 built 2,271 sq.ft. 4 bedroom 3 bath 3 car garage home sold for $308,000.
Since September 1, 2017 there has only been one home sold in Grand Isle.   

This property,located at 1585 Boca Rio Drive, was a 2,018 sq.ft. 2004 built 3 bedroom 2 bath 2 car garage home which sold for $280,000.  Coincidentally this property is very similar to most of the current homes for sale in Grand Isle.

If you are considering a purchase in Grand Isle, Heritage Isle or any 55+ community in Melbourne, Florida, please contact me directly at 321-693-3850 or
agent@moving2brveard.com

Thursday, October 05, 2017

Melbourne, Florida 55+ Gated Community - Pine Creek - Homes For Sale October 2017



Heritage Isle in Viera - 55+ Gated Community - Homes For Sale - Market Report October 2017

Heritage Isle is the largest, newest (Bridgewater at Viera under construction - call me for info) and most popular 55+ community in the popular planned unit development of Viera (north of Melbourne, Florida)

Heritage Isle offers its residents several choices of property style including condos, townhouses (patio style villas) and single family detached houses.

Heritage Isle amenities include a 21,000 square foot club house, heated pool, fitness center and much more.  On top of that there is the outside maintenance and gated entry!
 
Presented below is a snapshot of the Heritage Isle real estate market as of today, October 5, 2017.

What is currently for sale in Heritage Isle?

Currently there are twenty three properties listed for sale in the Heritage Isle community.  List prices range from $195,000 to $369,000.  The two lowest priced properties (under $200,000) are condo units.  
 
Single family detached home prices range from about $259,000 to $369,000.  There are several patio style/townhouse properties listed in the lower $200,000s for those not needing all the room offered by a single family home (most 1,600 plus sq.ft. under air).  

All twenty three listed properties are standard (fair market) sales.  There are also another nine properties under contract awaiting closing.

What has recently sold in Heritage Isle in Viera?

There were ten properties sold in Heritage Isle in Viera during September 2017.  Selling prices ranged  $178,000 to $295,000.  

The properties sold included condos (2), patio style homes (2) and single family homes.  All sales were standard (fair market) transactions.

Sold properties included:

  • 6838 Toland Dr #302 - This 2006 built 1,242 sq.ft. condo with 2 bedrooms 2 bath and covered parking (detached) sold for $178,000.
  • 6838 Toland Dr #301 - This 2006 built 1,408 condo with 2 bedrooms and 2 baths plus covered parking (detached) sold for $195,000.
  • 3550 Funston Circle - 1,407 sq.ft. patio style home offering 2 bedrooms 2 bathrooms and one car attached garage sold for $206,900.
  • 6399 Van Ness Drive - 3 bedroom 2 bath one car garage patio style home with 1,529 sq.ft. under air sold for $229,000.
  • 3772 Carambola Circle - 2005 built 3 bedroom 2 bath 2 car garage home with 1,834 sq.ft. sold for $243,000.
  • 6664 Pico Street - 1,672 sq.ft. 3 bedroom 2 bath 2 car garage home sold for $249,000.
  • 7183 Egbert Street - 3 bedroom 2 bath 2 car garage home with 1,773 sq.ft. under air sold for $257,000.
  • 6638 Sutro Heights Lane - 1,825 sq.ft. 3 bedroom 2 bath 2 car garage home sold for $259,900.
  • 6992 Premonition Drive - 3 bedroom 2 bath 2 car garage home with 1,938 sq.ft. sold for $270,000.
  • 3232 Balboa Place - 3 bedroom 2 bath 2 car garage home with 1,715 sq.ft. sold for $295,000.
For information on 55+ communities in Viera, Florida, call or text me at 321-693-3850.


agent@moving2brevard.com

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