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Headlines: Last Chance to Buy at Low Rates!
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Florida's SpaceCoast Flights to Orlando (45 minutes due West) Explore Brevard County FUN 4Brevard Relocation® |
The Best Information - Gives You a Winning Edge.
I built these graphs to give us some perspective on market forces
setting the prices on homes, and to help our clients negotiate the
best possible deal. These Brevard county-wide residential sales, by
fellow members of the both Boards of Realtors, chart the leading edge of
Brevard's overall real estate market. Note: The following numbers include many newer, larger homes and pull the chart higher. Older less expensive homes, and extreme luxury homes will perform lower, and homes on navigable waterways will perform higher than these averages. When in a buyers market, smart people BUY
Pick Your Home Averages are good for perspective, but can blur the picture. Look at the following charts to help you focus on categories of homes you're interested in, then call me for help finding the specific one that fits your requirements.We factor in date-sold in a way that enhances rather than confuses the analysis, and shows exactly what you should pay. Waterfront homes offer the best appreciation potential. Unlike continually expanding developments in former cow pastures, they're not making any more navigable waterfront. Including all the islands, we have 230 miles of coastline, and that's it, so prices get bid up faster on waterfront homes. In most areas we're seeing neighborhoods upgrade as investor-refurbishers buy homes built in the early days of the space program, and modernize them. Renovations push values higher. Vacation and investment property above $400k is in highest demand. Near-retirees establishing a beachhead for retirement, or beginning to move to Florida, want high-end homes and condos. They appreciate faster than blue-collar homes as a result. Note: Some people mistakenly try to use the tax appraiser's values as a guide to home pricing. That will not work in Brevard. The appraiser's Market Value and Assessed Value offers no predictable relationship to sales prices as evidenced by my Appraiser Ratios analysis (click to see). Is Demand for Real Estate Ending? Not in Florida! Not when 900 people per day are moving to Florida, already the 4th most populous state. The baby boom started in 1946 -- add 65 years and we will begin seeing baby boomers (who for decades have dreamed of moving to Florida) retiring in 2011. Many current home shoppers are early retirees, and those who plan ahead (a characteristic that made them successful in the first place) are purchasing now. Each time the Fed chairman raises interest rates to curtail what Greenspan called "froth" and "irrational exuberance" the press predicts the end of the housing boom - but not in Florida. Kiplinger's 13 riskiest housing markets were characterized by extremely high-end prices, reduced local employment, and people leaving. Brevard shares none of these characteristics. In fact our 3-year jobs growth is 7.1% versus the national average 2.4%. The following chart shows the housing demand created by new jobs. Add to that the huge demand created by retirees and second-home buyers and you get a demand for homes pushing prices ever higher.
source: National Association of Realtors New Economics Did you notice that the largest credit card issuers doubled their minimum monthly payment? A brilliant new monetary strategy! That's one great way to curb inflation! It cuts consumer mis-spending, and it had to be done with quiet government sanction; otherwise banks would have been in illegal collusion. This is a revolutionary method of reducing borrowing in precisely the sector that defaults on debt due to their irrational exuberance. It has been more effective than the Fed increasing reserve requirements to curb lending. We'll be watching its positive effect on inflation and interest rates, while expecting the press to whine about negative effect on credit card borrowers and how consumers are not spending enough. Investors Call Richard Webb, a fellow investor, for expert help selecting properties with the highest total return in your portfolio. Sometimes half of my buyers and sellers hold real estate licenses in Florida or other states. I am a Realtor's Realtor backed by an office of 140 specially selected and trained agents in 7 offices of the Coldwell Banker Ed Schlitt Realtors team, the most respected professionals on the Space and Treasure coast. We're everywhere you want to be along the Indian River.
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Call
Richard Webb at
.What is the average sale?
Don't Miss the
Bargains!
.When should I Buy/Sell?
Res=
residential Att=attached
condos/townhomes. Number is units sold by MAAR members.
Contact the WEBBmaster
for updated details, and help finding the perfect home or investment. Hire a professional who really knows Brevard County real estate.
321-480-5514 cel webb@4Brevard.com