Headlines: Buying Activity at Highest Levels Since Sept '05
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Florida's SpaceCoast Flights to Orlando (45 minutes due West) Explore Brevard County FUN 4Brevard Relocation® Need Help? |
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. When in a buyers market, smart people BUY
Pick Your Home Averages are good for perspective, but can blur the picture. 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. 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. Neither the appraiser's Market Value nor Assessed Value offers 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 37,000 people per year 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. 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. Brevard Outlook NASA was preparing new facilities for Constellation, the next launch system after Shuttle. Click to watch an overview of our next bold step into space. We are building a $22million terminal for 2 new Disney super-cruisers, and Royal Caribbean's Freedom of the Seas (world's largest cruise ship) now calls Canaveral home. Companies in Melbourne are desperately looking for engineers. The annual
end-of-year dip in purchases was particularly harsh in '07 as buyers
awaited the outcome of the vote on Amendment 1 that now makes the cost
basis on "homesteads" portable to a new purchase. Floridians
were "locked in" to their homes until portability passed.
Insiders know living on the
SpaceCoast is fantastic! Now everyone else is discovering the secret
about favorable real estate values in Central Florida. This
comprehensive monthly report shows you the investment potential that
accompanies owning property in Brevard County.
Investor Contrary to what you read in the
press, we studied premium waterfront home sales and discovered that on
Indian River, Banana River and Newfound Harbor, 2008 sales prices
and volume matched robust '05 levels. The same pattern held true
in Indian River County to our south.
Perspective It will take awhile until all the panicked sellers are out of the market. Although some had to sell immediately and temporarily pushed the market down hard, many sellers are unwilling to drop prices in anticipation of a renewed upward trend as retirees move here. Government bail-outs induced irresponsible lenders to give undeserved mortgages to irresponsible buyers who cannot, or will not, honor their commitments. Sales of those units are simultaneously pushing prices down. Take advantage while you can. Our studies show homes are still selling at 95% of asking price. When the asking price is set realistically a large number of homes have sold at full asking price. New Economics Did you notice that the largest credit card issuers doubled their minimum monthly payment a few years ago? 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 approval; 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 was more effective than the Fed increasing reserve requirements to curb lending. We'll be watching its positive effect on inflation and interest rates, while the press whines 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 90 specially selected expert 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. This article morphs slowly over time, but the statistics are updated approximately the 20th of each month. |
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TAX
CREDIT The deadline
has been extended to April 30, 2011, for members of the Uniformed
Services, Foreign Service or employees of the Intelligence
Community who have been on qualified extended duty outside the
United States for at least 90 days between Jan. 1, 2009, and April
30, 2010. You can still cash in on the $6,500 tax credit
that applies to most home buyers. It even applies to
vacation homes if you live there 6 months per year! Even
better, if you have not owned a home in the last 3 years, you can
get up to $8,000 tax credit!. Call 321-480-5514 for details.
Deal
with a knowledgeable Realtor who provides lots of
great information.
What is the average sale?
Don't
Miss the Bargains!
Contact
the WEBBmaster for updated details, and help finding the perfect home or
business location.