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Provided below is a quick recap of the Brevard County Townhouse/Condo market for September 2016 compared to September 2015:Closed Sales are down -7.9% for September 2016 in which the number of units closed was 220 compared to 239 in September 2015, with a decrease in cash sales of -2.2% compared to September 2015. New Pending Sales are up 13.4%. New Listings are down -4.4%. Median Sales Price for Townhomes/Condos is up 15.6% to $138,700 compared to a year ago, which was $120,000. Months Supply of Inventory is up 6.2% to 3.4 months compared to 3.2 months in September 2015. Traditional Sales are down -4.1% with a median sales price of $141,500. Foreclosure/REO Sales are down -47.4% with a median sales price of $81,650. Short Sale Closings are down -33.3% with a median sales price of $135,000.
Provided below is a summary of the Brevard County single family home market for September 2016 compared to September 2015.Closed Sales - Just barely lower by 0.7% for September 2016 with 849 units closed vs. 855 in September 2015. There was a decrease in cash sales by -23.7% this September. New Pending Sales - Increased are up 4.3% in September 2016.New Listings - Increased 5.6% which is needed in this seller's market!Median Sales Price for Brevard Single Family - Climbed 15.9% to $197,100 compared to a year ago which was $170,000.Months Supply of Inventory - Continued the current trend by going down -3.8% to 2.5 months vs 2.6 months last September. Traditional Sales - Went up 8.2% with a median sales price of $200,000.Foreclosure/REO Sales - Decreased -60.2% with a median sales price of $141,000.Short Sale Closings - Also down -6.7% with a median sales price of $123,500.
When a house goes in the market - even in a seller's market - there is a golden period. This golden period is the initial first week or two when the new listing generates the most interest. In a seller's market a home that is priced reasonably well and presents well will likely get an offer - even if not accepted - during the first thirty days. If an offer is not received during the golden period consider whether the price violates the 30-10-1 rule (if a house does not have at least ten showings and one offer (not necessarily accepted) in the first thirty days then the price may be a problem).There are really only three Ps to selling a house... pricing, preparation and presentation. The title of this post tells it like it is whether selling a house or going on a job interview....dress for success (preparation)! Getting a house ready for success is not that difficult....your real estate agent should be your number one resource! This blog has over 150 articles discussing home sellers and the process. Here are ten articles that might just help if one is looking to sell their Melbourne, Florida home. Great Staging Will Not Overcome Deficiencies!Don't Forget These Things When Preparing to Sell Your House.There is a Right Way to be Remembered.Preparing to Sell Your House - Don't Forget Safety and Security.Show Your Home - Not Your Stuff!Too Much Stuff Can Make Your House Look Small!Some Easy Fixes! Preparing Your Home - Its All About the Senses.Preparation For Selling Should Be Done First - Before Listing!Why Would Someone Want YOUR House to Be THEIR Next House?The above articles focus more on presentation than the actual process of selling your Brevard County, Florida home. If you have questions regarding the process or want a free market analysis, call or text me at 321-693-3850.Gary Waters (Waters Realty) is a one person brokerage in central Brevard County providing personalized advice to customers one at a time.
The parts of a property that get the most attention with home buyers are kitchens and bathrooms. After all, these spaces are pretty much going to be used the way they are unless additional remodel money is in the budget. And while these ares are key there are some other less glamorous areas that can get overlooked during the home shopping process. What are these areas?In a nutshell...think storage. In the kitchen consider pantry size and location (I have seen a few homes recently that did not have a pantry at all and relied on kitchen cabinet storage). Consider the closet space. While the master bedroom closets often get the first look consider the other bedrooms - especially if there are kids. And while smaller children and smaller closets may be fine think long term! Check out the garage completely. What are the overall dimensions? Is there shelving or room to install shelving later? Is there attic storage? How much space is available after the vehicles are placed in the garage? If a buyer has a large pickup truck with extended cab, etc. then will the garage be long enough as well as tall enough? Be especially mindful of three car garages...most don't hold three cars! Inside parking is a requirement in some places. For example, there are some developments here in the Viera and Suntree are that do not allow a car or truck outside at night. I have had several deals go through only after the garage test! Lastly, consider the usable floor space. While the room sizes may look good on paper consider the location of doors and angles. How much space will be needed to open doors (thereby reducing usable floor space for furniture). A tape measure can be a valuable tool when looking at homes.While the general layout, presentation and "feel" may say "yes" buyers need to consider the less awe inquiring aspects of a house - like basic space.Clothes Hanging on Rail in White Wardrobe Image courtesy of khongkitwiriyachan at FreeDigitalPhotos.net
For some this is almost like the "Which came first the chicken or egg?" question. However the answer is more dependent on the individual than anything else.When I ask most prospective home-buyers about their desires the focus is almost always on the house. This is great for me because it helps narrows the search.However, there is more to the decision for most people than the usual size, age, price stuff. There are the lifestyle issues. Of course, "lifestyle" covers so many characteristics. For some it could mean community characteristics (55+ community, gated golf course community, water front living, hobbies). For others it could mean proximity to work, shopping, restaurants, places of worship. For commuters it may mean ease of access to major airports or major highways. Still, for others it could be focused on school quality and colleges. And then some like the freedom to do what they like (i.e. absence of association rules and fees). Lifestyle encompasses almost all things including economics, habits, attitudes, tastes, etc. It is how one lives their life. Ready to buy a home in Melbourne, Florida and the surrounding area (Cocoa Beach, Viera, etc.)? Give me a call or text me at 321-693-3850.Lets talk about the lifestyle you seek and the best place to buy that Florida home!Image courtesy of kkojang at FreeDigitalPhotos.net
While holding an open house recently I had a visitor remark they "were buying a house in a couple of months."My follow up conversation brought to light three red flags. The lack of understanding about how long the purchase process takes; No effort was made to obtain mortgage pre-approval or pre-qualification; Friend who does mortgages. Why are these red flags?First, this is a first time home-buyer who really had not been educated on the process. Since he had no real estate agent that is quite understandable.The first step in the home buying process? Get a local knowledgeable real estate agent you can trust. Here is a quick summary of the home purchase process in Florida - Contract to Closing in Twenty Steps! Who pays for the buyer's real estate agent? The seller. Secondly, a seller (and a real estate estate) wants to have some confidence of a prospective buyer's ability to pay. Seller's do not want to take their home off the market without confidence the transaction will close. Real estate agents get paid only after a deal is closed.Unless paying cash, it is critical a prospective buyer know what they can afford (including acquisition costs). If a buyer can't afford a property everyone is just spinning their wheels!Lastly, buying a home is very often the largest financial decision many buyers make. Trusting a "fiend," relative, or anyone without an understanding of their experience is a major risk.Take a look at these home buyer articles.When Do You Talk to the Mortgage People?Why Does it Matter if I Work with more than one agent?Why Won't a Realtor Just Go Show Me Houses?Contract to Closing in Twenty StepsHow to "View" a ListingOffers, Counter Offers, Negotiating...Buying Your Florida HomeBuying a Home in Florida - Keys to a Successful ClosingFinding the Perfect "Imperfect" HomeIf you have questions about the home buying process in Brevard County, Florida, call me at 321-693-3850.
When I speak with prospective home sellers in the Viera, Florida area I like to point out the difference between having a home "For Sale" and home "listed" in the multiple listing service (MLS).Put another way.....There are two types of agents to choose from - "Listing Agents" and "Seller's Agents."What is the difference? Mechanics and results.There are the mechanics of listing a home which most real estate agents can manage to complete. Then there are the results... Sold! Sold! does not just happen. Sold! is the culmination of a planned process with a realistic achievable goal.What does the process involve? Beyond the basic steps like listing agreements, disclosures, signs, entry into the MLS system, etc. there are the details of the process like providing advice and counsel regarding pricing and preparation. There is the communication and responsiveness to the client and prospective customers/buyers. There is the development of a marketing plan that makes sure the pool of most likely buyers know the home is for sale (more than a sign and MLS entry).Here are a few articles on the home selling process...Home Seller Tips: Pricing, Preparation and PresentationSelling an Imperfect Home.Pre-Listing Efforts Pay Off! Have a Pre-Listing Appraisal - On Me!A Cheat Sheet For Home Sellers.When Selling Your Home, Turn Down the Noise! For additional information on how to sell your Melbourne, Florida home, call or text me at 321-693-3850. Remember, real estate agents get paid when property is sold - not listed.
Grey Poupon is a brand of whole-grain mustard. I remember many of the commercials on TV where some person asked "Pardon me, Do you have any Grey Poupon?"The point of the commercials was simple - distinguish yourself from the competition and get noticed.To me Grey Poupon is not just mustard because I see it differently from any other yellowish condiment. The marketing and presentation made it stand out.How does this apply to selling a house?In many communities, like our Viera (Melbourne), Florida planned unit development, many of the subdivisions are "cookie cutter" developments built by a single builder with only a handful of models. While some have different front elevations on the surface there is not much difference. Not only does this apply to single family homes but this can be especially a challenge when selling condos where there are usually only maybe four different floor plans in an entire complex. The challenge when selling is to differentiate your home from the others...distinguish yourself and get noticed.The seller's real estate agent must put together a marketing plan that makes the home stand out. Of course the easiest way to make a house stand out is price. Some sellers take this approach by pricing at the lower end of the market and thereby encouraging competition among buyers. When the inventory is low this could be a great approach.Your house may be gold on the inside but in some communities it may look the same from the outside.... Start the selling process by thinking "Grey Poupon." After all, your house is not just a house. Image courtesy of Sira Anamwong at FreeDigitalPhotos.net
There has been a lot of discussion about the benefit of an open house - especially for the seller. The reality is very few homes are ever sold by the agent at an open house.Not every house is a candidate for an open house either. But, if an open house is considered then there are preparations required by sellers and their real estate agent. Consider this incident... "Real estate agent reportedly lets in jewel thieves during open house; $150,000 in loot stolen" Among the several thoughts that came to me was Glad it wasn't me! Some of the other thoughts included The headline makes it sound like the agent was almost a willing party who "lets in" the crooks.It appears there was only one person on site.The preparation phase was inadequate.You never know who is watching.I am sure the agent did not open the doors to the thieves on purpose.An open house brings all sorts of unknowns into the process. The neighbors, tire kickers, people just wasting time and an occasional prospective buyer may show up at an open house. Thieves can easily dress up as a buyer and even ask the right questions! It is incumbent on a listing agent to determine the requirements of the open house and bring additional persons to help in the case of a large property.Sellers need to be aware that strangers will be perusing their home. Most real estate agents do not have personal knowledge about the character of the customer. Sure, the buyers are pre-qualified based on ability to purchase and motivation but anything else is rarely known.Sellers must prepare for selling by removing or securing valuables especially highly pilferage-able, small items like jewelry, money, laptops, etc. Sellers should secure items like firearms, medications, and important personal papers (financial, passports, etc).Finally, the good news... There was a surveillance system. Real estate agents and buyers need to always be aware that they are potentially being video-recorded. In this case the agent did not have to try and explain the missing property!The seller did indicate that this was his last open house. His advice - "appointment only.'" After all, you never know who cometh through the front door!Ready to sell your Melbourne, Florida home? Call or text me at 321-693-3850 for your market analysis.“Character Thief In Good Person” by kittijaroon provided by freedigitalphotos.net
One of the keys to selling your Melbourne, Florida home is to hire a real estate agent who is not only local but also knowledgeable. I always recommend sellers interview at least three agents before deciding who to hire. [For more, read the related article links at bottom of post.]But these real estate agent interviews are like a boy picking up your daughter for a first date. They know they are going to be quizzed and better be on their best behavior with the right answers!Sellers are at a disadvantage because these these agents will likely all appear to be knowledgeable. All will probably be dressed to impress, responsive to questions and saying what you want to hear!My suggestion is don't do the initial interview in your home but at this really really secret location....At a nearby open house.I call this the "just browsing" screening process. Choose homes for sale ideally in your neighborhood or another nearby neighborhood. Stop by and take a look. Be a browser.Observe how the agent presents them-self to all visitors. You know what you like and don't like in sale people. And real estate agents are primarily sales people. Are they employing pressure and arm twisting? Are they knowledgeable about the product (listing)? Do they make you feel comfortable? Ask them about the neighborhood. Ask them about home prices and seller attitudes. Don't ask the easy questions. Ask about homeowner associations. Ask them about criminal activity. What about school quality and school assignment areas. See how far out on a limb they will go with answers. A good local real estate agent will also know the limitations of their knowledge as well as potential liability. Do not be surprised if you get advised to call the schools or local law enforcement folks for answers. This is not the final selection process. You may not find the agent you are going to hire but you may just find some to skip when the interviews start for real! I like to tell new agents to always expect any contact at an open house to be an interview.By the way, this "just browsing" interview technique works well for prospective buyers who can have a relaxed, no pressure consultation! Twelve Rules for Buying or selling a Home in FloridaTwelve Articles to Help You Be Better Seller.Understand the Process From "For Sale" to "Sold"Thinking about selling your Rockledge, Florida home? Call or text me at 321-693-3850.
Florida Realtors and National Assoc Realtors News
First-Time Buyers Behind Latest Housing Gains October 20 2016
More Single-Family Homes Are on The Way October 20 2016
Reach Out to Renters With Your Marketing October 20 2016
Canada’s Housing Tax Is Helping This U.S. City October 20 2016
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