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In a market where the prices are rising slowly and appraisals can sometimes be challenging. In such a market some sellers wonder if a pre-listing appraisal will help them. I have never suggested a pre-listing appraisal while on a listing appointment. While an appraisal does consider what has sold it does not evaluate and advise based on current competition. A seller needs to set their price based on the current competition, listing prices and recent sold properties. However, an appraisal only considers sold properties. And these sold properties may have gone under contract two or more months ago. Now if there was a major difference in my comps and the seller's thinking then I may invite the appraisal.Sellers should be confident that a local real estate agent can provide a market analysis to establish the price point. Of course, it is the seller's job to accept, reject or recommend a different listing price. Most often, sellers go with their professional as that is why they hired them!Pre-listing inspections can very often help a great deal. Many times a seller will be confident their home is in excellent condition. Still, most sellers have never been on the roof, in the attic or tested the appliances for efficiency and function. This is especially true when it comes to an older house.Preparation is key. That is something I always recommend. I showed a house last week that has been on the market for almost a month. It was beyond awful. The pet smells, the filth, the kitchen...I do not know where to begin.Will the prospective buyers go back or even keep it on their short list? I know the answer...No!Sellers have only one chance to make the cut! That is true even in a seller's market like Brevard County, Florida.
Sunset Bay Condos in Merritt Island, Florida (Brevard County) offer residents a gated waterfront community with a resort feel. This gated complex, built in 1986, has its own riverfront dock with water access, a huge pool, fitness center, clubhouse, hot tub, tennis courts and more. And with association dues starting at just over $200 a month offers some attractive prices for condo ownership in Florida! Association dues are just over $200 a month for one bedroom units and in the $400/month range for larger units. What is for sale at Sunset Bay?There was a time not too many years ago where there were lots of units for sale including foreclosures and short sales. But the real estate scenery in Brevard County, Florid has changed!Currently there are only two condo units for sale in Sunset Bay in Merritt Island, Florida. Both of these are standard sales and tend toward the larger units available in the complex where the the units range from about 500 sq.ft. to about 1,200 sq.ft. under air. Both of these are two bedroom two bath standard sales with list prices ranging from $89,900 to $119,000. The higher priced unit is closer to the pool with a better view.... always about location!What has recently sold in Sunset bay?Over the previous six months there have been seven sales in Sunset Bay as reported in the Brevard MLS system. All of these sales were standard sales.Selling prices ranged from $59,900 to $84,900. While the range of selling prices seems large a closer review reveals six of the sales were closed in a narrow price range ($59,900 and $65,000). Also size matters...four of these units were one bedroom and one bathroom units. The highest priced sale was similar to the current listings (2 bedroom 2 bath with 1,155 sq.ft. under air).For information on condos for sale in Merritt Island, call or text me at 321-693-3850.
Below is a summary of the Brevard County residential market for April 2016 compared to April 2015 as provided by the Florida Realtors.. Closed Sales - decreased 3.6% in April 2016 with 881 units closed compared to 914 in April 2015.Cash Sales - dropped 14.2% compared to April 2015.New Pending Sales - down 20.5%.New Listings - up 4.9%Median Sales Price for Brevard Single Family homes - up 16.1% to $179,900 compared to a year ago which was $155,000.Months Supply of Inventory - up 3.4% at 3 months vs. 2.9 months last year.Traditional Sales - increased 11.8% with a median sales price of $185,000.Foreclosure/REO Sales - down 59.2% with a median sales price of $112,143.Short Sale Closings - down 53.8% with a median sales price of $83,000.For information on buying a home in Florida call or text me at 321-693-3850.
This is a summary of the Brevard County, Florida townhouse and condo market for April 2016 compared to April 2015 as provided by the Florida Realtors. The condensed version....prices about the same with fewer distressed sales. Closed Sales - increased 8.4% for April 2016 with 257 units closed compared to 237 in April 2015.Cash Sales - decreased 6.8% vs. to April 2015.New Pending Sales - decreased 11.6%.New Listings - up 13.7%Median Sales Price for Townhomes/Condos - remained the same at $140,000.Months Supply of Inventory - dropped 2.3% to 4.2 months compared to 4.3 months in April 2015.Traditional Sales - climbed 21.6% with a median sales price of $147,500.Foreclosure/REO Sales - dropped 61.8% with a median sales price of $69,500.Short Sale Closings - down 50.0%, with a median sales price of $109,000.For information on buying a condo in Florida, call or text me at 321-693-3850.
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 convenient to Viera High School, shopping and restaurants at The Avenues Viera, Viera Hospital, Brevard Zoo and much more. Fairway Lakes offers a central location with easy access to I-95 with Orlando less than an hour away. Fairway Lakes at Viera is more than a home...its a lifestyleTypical Fairway Lakes HomeCurrently there are seven homes listed for sale in Fairway Lakes at Viera. List prices range from $475,000 (low for this community) to $723,683 (new construction).The median list price of homes for sale in Fairway Lakes is $579,900. Home sizes range from 2,724 square foot (highest priced home) to 3,279 square foot (having either four or five bedrooms and three or four bathrooms with two-three car garage). These homes were all constructed between 2007 and 2016 with most built after 2012. All of these are standard sales. and share some similar characteristics like tile roof and paver drives as well as being custom built.Currently there are also two homes under contract awaiting close.Typical Fairway Lakes HomeOver 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 $630,000.The most recent sales (since April 1, 2016) included: Selling for $595,572 on April 22, 2016, was 3071 Tryall Court. This 4,476 sq.ft. home offered four bedrooms five bathrooms and a three car garage was new construction by D.R. Horton Builders.3098 Lamanga Drive sold for $515,000 on April 29, 2016. This 3,100 sq.ft. four bedroom three and a half bath lake front home with direct fairway views was built in 2014.For information on homes for sale in the Duran Golf Course area of Viera, call or text me at 321-693-3850.
Two out of three prospective Viera, Florida home buyers I have spoken with this week shared one characteristic... They had the cart before the horse. In this case the cart represents mortgage pre-approval while the horse represents the home shopping.Buying a house is really a logical process. It has a logical starting point and finishing point.One of the first things that should be accomplished is understanding what you can buy. This starts with a mortgage pre-approval. Your chosen lender will review your application, check credit history/scores and determine a maximum purchase price for consideration. Note this price is not in stone nor is it the amount a buyer must spend.I am not a mortgage expert. I leave that up to the professionals who are quite capable of providing advice on qualifications and different loan programs. Early on ask your lender ask what types of properties you can buy. Sometimes the type of loan program or lack of cash requires restrictions be placed on the specific property sought (i.e. foreclosure or auction property).Understanding what you can buy also includes the type of property and conditions of sale. Some condo complexes are not FHA or VA approved so they must be eliminated. The property type may be restricted such as in no manufactured or mobile homes. Some properties are short sales and the timeline will not fit. The most important advice I can give prospective home buyers: Know your loan status (amounts, types of homes, projected costs, etc) and know your mortgage lender's contact number. If you have a question about your mortgage, ask!Buying a home is a cooperative effort involving multiple people. Buyers, their real estate agent and mortgage lender all need to be on the same page.Ready to move to Brevard, County, Florida? I can help you find a local lender, your next home and the moving company to help you out!
When a home goes on the market the age of the key components and systems is usually disclosed - especially if they are newer. This is great information for a buyer to know when it comes to the costly systems like the roof and air conditioning (particularly in Florida). But I suggest sellers make available other information that prospective buyers may find helpful. The more information a prospective Florida home buyer has at their disposal, the easier for them to make a decision to make an offer or move along. Things like...Utility bills. Perhaps one or two from the hottest months to give a general impression of the higher costs. It would nice to have an idea of where the thermostat is set during these months as well. This is directly linked to the age and energy rating of the HVAC system. Lawn service. Many homeowners do not take care of their lawns and have a service handle the the mowing and other necessary related upkeep (like sprinkler system, trimming trees, etc). How much do you pay? Any recommended service providers?Water costs. How much is your usual monthly water bill? Reclaimed water. Is you lawn system on reclaimed water (what cost) or is there a well. Depending on the lawn (i.e. St. Augustine grass), the amount of water necessary can be greater (and more costly).Pool maintenance. What is the cost of your monthly pool service? Is it self maintained or contracted? If so, who is the the service provider? Cost for trash service. Sometimes it is included in the property tax bill so this is not a needed item. But if it is paid separately, prospective buyers should have idea of the cost.Homeowner Insurance cost. While policy coverage can vary and different carriers charge varying rates, prospective buyers would like to have an idea what to expect.Flood insurance. Is it required? If so, what is the cost? Sometimes buyers will ask about flood potential. In the Brevard County area back in 2008 Tropical Storm Fay dropped like 30 inches of rain on the area in a three day or so period. How did the area handle the deluge? Beyond the monthly mortgage costs (principal, interest, taxes, insurance) homeowners will have to expect the above costs as well as homeowner association fees, utilities and upkeep. The more information a prospective buyer has at their disposal when viewing your home the easier it will be for them to make a decision - either good or not.Ready to sell your Rockledge, Florida home? Call or text me at 321-693-3850 for a free market analysis.
I held an open house last Saturday at my listing in Rockledge, Florida. It has been quite a while since I put the time into an open house. And it has not changed after all these years.I love the chance to meet people and tell them about the market and my listings.Besides, you never know who will show up at any particular open house- maybe even a buyer! You almost always have some people who need some filler for their afternoon schedule. They have no interest in buying but just want to see what is out there. I think the car sales people call them tire kickers!Sometimes you will have a Negative Nelly in the crowd who is quick to offer criticism about almost everything. In some cases there are the nosy neighbors although my most recent experience lacked any neighbors. I have found through the years the neighbors can help a person sell their home or hinder the process.Of course HGTV and other similar channels have done amazing things in educating the casual home shopper! They are looking under sinks, opening electrical panels, discussing removing walls and the like. Wow!When you combine the TV programs with the mega real estate web sites there is an almost educated pool of prospective buyers. In a market with rising prices, these mega websites are more wrong than ever (in my opinion). Relying on some automated computer algorithm located some place across the country using less than current information to determine what the market is here in Florida today is asking to be ill informed! Call a local real estate agent. If you have one, tell the agent hosting the open house.Finally, there are serious prospective buyers who stop by open houses. They may not buy this house but they are serious about assessing what is for sale and if it is a possibility.So I will be holding another open house at 897 Brunswick Lane in Rockledge, Florida on Saturday May 7, 2016 from 11:00 a.m. to about 3:00 p.m. See the listing information here. For information on homes for sale in Rockledge, Florida, call or text me at 321-693-3850.
Indian River Colony Club is a gated 55+ community located in central Florida's planned unit development of Viera (just north of Melbourne, FL). Actually, its more of a country club and a lifestyle than a development. This is part one of a new series on Indian River Colony Club.IRCC was founded in 1986 as a not-for-profit corporation as a retirement destination for military offers. Over the the years since its inception, Indian River Colony Club has evolved into a more inclusive, as well as exclusive, retirement community with membership expanded to all former military and 20% non-military veterans. All homes are individually owned with no rental properties allowed so residents know their neighbors are permanent.A few interesting points about Indian River Colony Club:The IRCC corporation is debt free;Amenities are owned by residents including golf course, club house, multi-use buildings, pro shop, tennis courts, swimming pool and more; Home prices are less than those in other Viera 55+ communities (Heritage Isle, Grand Isle);The Board of Directors, elected by the residents, determine fees and provide oversight for all activities within the gates including the professional onsite management;Household maintenance (more specifics below) are covered by the monthly maintenance fee;Monthly fee also covers club membership, amenities, full time on site security including 24 hour guard monitored entry, security cameras at all entrances, visitor management as well as security patrols inside community.What is the catch? There is no catch but the services and amenities come with a price and this is often an issue which stops prospective buyers from fully considering IRCC. The fees are based on floor plan of the house and can broadly range in the $800- $1,200 a month ballpark (more later in this series about fees).But consider all the fees cover....Inside maintenance including water heater, AC, heat systems, structure, electrical, plumbing, garage doors including openers.Outside maintenance including roof repair or replacement (if not covered by homeowner insurance), external wall preservation, painting, cleaning, pressure washing of driveways and sidewalks.Pest control inside and outside including termite protection and repair if necessary.Quarterly preventative maintenance.An IRCC vehicle even provides transportation to Patric Air Force Base and nearby shopping malls. Consider all the above items covered by the monthly fee and the fee does not appear so unreasonable.For information on buying a home in Indian River Colony Club, call or text me at 321-693-3850.
I was reviewing my recent listing in Levitt Park subdivision when I came a cross the website LevittownBeyond.com which actually told the story of "The Levittowns" developments by Levitt and Sons. I had heard of Levittown, PA before but was not familiar with Levitt and Sons and their huge development of communities across the USA.And the Levitt communities appeared everywhere including Arizona, Callifornia, Ilinois, Kentucky, Maryland, Michigan, Nevada, Georgia...practically all over!In Rockledge, Florida. we have Levitt Park at Rockledge or officially, Buckingham at Levitt Park which, according to LB.com, opened for sales in 1964. This was Levitt and Sons' first Florida project and was attracted by the expansion plans at Kennedy Space Center in the early 1960s. One of the early marketing brochures touted the "true indoor/outdoor living with finished patios and terrace areas" with floor plans like the Alameda ($15,990), Biscayne ($17,500), Catalina ($21,500), Delray ($19,500) and Eastwood ($20,990). It looks like air conditioning was another $500-$600! Of course the year round boating, fishing, swimming and golf were prominently advertised. Levitt Park in Rockledge now is generally considered the area from the Fiske Blvd entrance on Levitt Parkway all the way back to its end at Murrell Road. With its proximity to excellent schools, shopping, parks, golf course, beaches , and major routes (I-95, US1), Rockledge is a great location fro getting around central Florida.What is for sale in Levitt Park in Rockledge? Currently there are six homes for sale in Levitt Park with list prices ranging from $147,000 to $245,000. Construction of these homes range from 1965 to 1977 with only one listing built after 1966. Five of these homes are standard sales and one is a foreclosure. That home is located at 897 Brunswick Lane and is a three bedroom two bath two car garage home listed for only $177,00. This home has a new roof, a new garage door and opener,completely renovated bathrooms, air conditioner about eight years old, new interior doors and more! In addition to a patio and a screened porch out back, there is a separate smaller one room building (concrete block with air conditioning) which would make a nice office, craft room or shop!By the way did I say I was the listing agent? Call me to see this home for sale in Levitt Park. It is the best home in the are for the money!What has recently sold in Levitt Park?Over the past six months there have been seventeen homes homes sold in Levitt Park with selling prices ranging from about $94,000 to $175,000.Thirteen of these seventeen homes were standard sales. In the past two months there were eight homes sold in Levitt Park with selling prices for these recent sales ranging from $115,475 to $175,0000 (half sold at or more than $157,000).Only one of these homes was built after 1966.... 897 Brunswick which is one of the best homes currently available!The trend in Levitt Park, as in all of Brevard County, is prices are rising.For information on buying or selling a home in Levitt Park in Rockledge, Florida, call or text me at 321-693-3850.
Florida Realtors and National Assoc Realtors News
The 20 Hottest Housing Markets for May 2016 May 27 2016
Banks Rush to Offer 3% Down Payment Loans May 27 2016
Mortgage Rates Push Upward May 27 2016
Rent Out of Reach for Many Americans May 27 2016
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