May 2009 Market Statistics Reports for Brevard Real Estate

According to the Melbourne Association of REALTORS here in Brevard County Florida,  Real Estate Statistics for May 2009 are as follows:

For single family residential units:

There were 531 new listings.

This is a decrease of 26.96% from May 2008 of 727 new listings.

Year to date in 2009 there have been 2952 new listings.

Year to date in 2008 there were 4118 new listings.

 

There were 298 sold listings.

This is a 1.32% decrease from May 2008 of 302 sold listings.

Year to date in 2009 there are 1409 listings sold.

Year to date in 2008 there were 1282 listings sold.

 

The average sale price in May 2009 was $169,939.

This is a 10.44% decrease from May 2008 of $189,750.

 

Average days on the market for May 2009 were 123 days.

This is a 9.82% increase from May 2008 of 112 days.

 

For all properties, including single family residential, condo and townhouse:

There were 781 new listings.

There were 373 sold listings.

Average sales price was $162,940.

Average days on the market = 137

 

Types of financing used:

103 conventional financing

148 cash

 88 FHA

 26 VA

  7 Owner financing

This article is authored by

Sandy Shores REALTOR®  , Melbourne FL Real Estate

Brevard County Real Estate & Investing

Foreclosure Filings are Down

 

Brevard County foreclosure filings were down for May 2009.  There were 770 filings last month. April had 851 and in March there were 963. To date 2009 has seen 4297 foreclosure filings.  In 2008 we had 9228 for the year. These numbers are for filings only.  They don’t indicate the total number of foreclosures.

Are the numbers down because more owners have been able to short sale their properties?  A short sale is when a bank or mortgage company agrees to take a lesser amount than the outstanding balance of the mortgage.  The property is sold because of a financial or economic hardship.  We are finding that many lenders are receptive to a short sale as it costs them considerably less than a property that goes into foreclosure. Some are even opting for a deed in lieu of foreclosure.

Foreclosure filing fees in Florida increased on June 1 from $295 up to $1,900. The amount is determined on the price of the home.

The Melbourne Association of REALTORS estimates that one quarter of home sales today are short sales.

NOTE:  It is recommended that a seller contact an attorney, legal counsel or an accountant prior to doing a short sale to determine how a short sale will effect their individual situation.

This article is authored by

Sandy Shores REALTOR®  , Melbourne FL Real Estate

Brevard County Real Estate & Investing

I also buy, sell, rent, own and manage Investment Property.

Forbes Magazine Says Florida has Two of the Top 10 Small Towns

 

Forbes magazine has come out with their list of the top 10 small tpwns to live in the US.  These towns have less than 100.000 residents. The survey included towns that are favorable to running a business, that have educated employees, favorable salary levels, beautiful landmarks, and great cultural opportunities as well as favorable restaurants.

The list is as follows:

1.  Boulder, Colorado

2.  Doral, Florida

3.  Fairfax, Virginia

4.  Mountain View, California

5.  Cupertino, California

6.  Newton, Massachusetts

7.  Columbia, Maryland

8.  Rockville, Maryland

9   Coral Gables, Florida

10. Foster City, California

It’s interesting that 3 states had more than one town included in the list.

This article is authored by

Sandy Shores Realtor, Melbourne FL Real Estate

Brevard County Real Estate & Investing

First Quarter Reports Indicate that Sales are Up!

According to the Florida Association of Realtors single family home sales increased by 25% in the first quarter of 2009 compared to the same period in 2008. There were 31,412 existing home sales in Florida from January to March.  In 2008 the number was 25,071.  The figures have continued to rise over the past three quarters.

In Florida, our existing median sale price was $141,000 from January through March. This is a 30% decrease from the same time in 2008, where the figure was $202,300. The National Association of Realtors has reported that these prices may be a bit deceptive, in that short sales and foreclosures are pulling the figures down.

Interest rates averaged 5.06% for the first quarter of the year, according to Freddie Mac, compared to 5.88% in 2008.

I know that here in Brevard County we have been very busy with first time homebuyers, investors, out of town and international buyers.  They are taking advantage of the attractive prices on real estate.

 

This article is authored by

Sandy Shores Realtor, Melbourne FL Real Estate

Brevard County Real Estate & Investing

Palm Bay Florida Real Estate News

Alligators on the Golf Course? I Think I’ll Just Leave My Golf Ball…

My husband was recently out one Sunday afternoon golfing with a couple of his friends.  As they were rounding the 14th hole, his friend Trevor hit his ball way over by the lake.  When Trevor went to find his ball, this is what he found instead…a Florida gator, out sunning himself.  Needless to say, Trevor never found his ball, nor did he even attempt to look for it. 

These gators should be left alone under ALL circumstances.

When buyers come in from out of town, they always ask about alligators.  Often times we tell them if there is a body of fresh water around there may be an alligator living in it.  It really depends on where you are.  I have  only seen 1 or 2 of these gators out sunning themself in the 34 years I have lived here in Brevard County, except, of course, for the ones that we have at our local zoo.

Different people have had different experiences. 

This article is authored by

Sandy Shores Realtor, Melbourne FL Real Estate

Brevard County Real Estate & Investing

Palm Bay Florida Real Estate News

Should A Home Inspection Be Done on a Brand New Home?

I am currently working with a buyer that signed a contract to purchase a brand new home from a local reputable builder.  The home is complete and ready to move into.

While we were out looking at properties, new construction, as well as resale homes, we began discussing inspections.

Should a home inspection and a termite inspection be done on a brand new, never lived in home, purchased directly from the builder?  The builder is offering a full new home warranty on the property.

Obviously, it is the buyer’s decision. 

Could the builder have missed something?

Could there be improper wiring in the house? 

Could there be shoddy construction?

Are there any number of items that could be wrong, that the buyer may not be aware of?

Isn’t a home inspection for the protection of the homebuyer? 

Isn’t a home inspection an extra security net, even on a brand new home?

Absolutely.

Home inspections are done so the new homebuyer can be made aware of problems or see potential problems, before they purchase a home. And these items can be brought to the attention of the builder, and be fixed, prior to closing.

What about a termite inspection?

The termite inspection is also for the protection of the homebuyer. Termites do hundreds of thousands of dollars of damage each year.

Remember, when hiring a home or termite inspector, be sure they are licensed, insured and reputable.  You may want to consider a certified general contractor for the job.

This article is authored by

Sandy Shores Realtor, Melbourne FL Real Estate

Brevard County Real Estate & Investing

Palm Bay Florida Real Estate News

World Famous Ron Jon Surf Shop

I think that everyone that has heard of Cocoa Beach, Florida has heard of Ron Jon Surf Shop.  I marvel at how ginormous (that would be giant and enormous all in one) it has become.

Ron Jon has become the Worlds Most Famous Surf shop. The multi level store, which is open 24 hours a day,  is over 52,000 square feet. And sells beach wear, surfboards, bikinis, and anything else you can think of that you might need for a day at the beach.

Ron Jon is a tourist attraction in and of itself. It has become so popular that over 2 million people from around the world visit it each year.  Now that’s pretty amazing!

Ron Jon often boasts community events with bands, music and often big name surfers.

Ron Jon is located at the corner of Highway A1A and State Road 520. It’s hard to miss.

A visit to Cocoa Beach must include a visit to Ron Jon Surf Shop.

This article is authored by

Sandy Shores Realtor, Melbourne FL Real Estate

Brevard County Real Estate & Investing

Palm Bay Florida Real Estate News

The World’s Largest Cruise Ship is Coming Home to Cape Canaveral Florida

Having been working in Cape Canaveral this week helping a buyer purchase a condo, I just heard that Royal Caribbean will be bringing in the world’s largest cruise ship on May 4, 2009 and Cape Canaveral will be it’s home. 

The Freedom of the Seas will be 1100 feet long, and hold over 4300 passengers.  It will house over 1300 crew members. The ship features a skating rink, a surfing simulator machine, and a boxing ring.

Three more large ships, from various cruise lines will be built and be coming home to Brevard County Florida in the next couple of years. 

The ship that I saw this week with my buyer was a smaller ship.  It holds just over 2700 passengers and less than 900 employees.  That ship is just under 900 feet long.

I can’t wait to see the new ship coming in!

This article is authored by

Sandy Shores Realtor, Melbourne FL Real Estate

Brevard County Real Estate & Investing

Palm Bay Florida Real Estate News

A Visit to Cape Canaveral Florida

I am currently working with an international buyer that contacted me about 4 months ago, online. We have been corresponding ever since.  He’s very funny. 

He is currently here in the states for 10 days to purchase a property and then he will go back to England.  We have spent several days looking at properties in Cape Canaveral Florida.

It’s funny as I talk to him, so often his comments are, ” I know, I read that in your blog online.” He indicated that he’s been reading my blog for sometime now, from over in England. I LOVE IT! 

So, I wanted to share some pictures of some of the beautiful sights we have seen during his visit here.

This was taken at the Costa Del Rio Condo Complex in Cape Canaveral.  This is what you would have to look at every morning when you get up.

We got a kick out of this sign at a local pond.

 

 No trip to Cocoa Beach or Cape Canaveral would be complete without a visit to the World Famous Cocoa Beach Pier.  This is where surfing contests are held and contestants come from all over the country to compete.

 

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We spotted about 10 of these manatees in the backyard of a Cape Canaveral Condo complex that we visited. In my 35+ years of living here, I have never seen so many manatees in one spot.

We saw alot of momma manatees with their babies.

 This was the view out the balcony of one of the condos we looked at.

This was the same Cape Canaveral Complex as the sun was setting.

These complexes sit on the Indian River Lagoon and are just blocks from the Atlantic Ocean.

So, many great reasons to live in Cape Canaveral Florida. 

It is absolutely breathtaking!

This article is authored by

Sandy Shores Realtor, Melbourne FL Real Estate

Brevard County Real Estate & Investing

Palm Bay Florida Real Estate News

Stay Away from the Man ‘O War or Jellyfish You May See

On our trip to the beach the other day, another interesting creature we came across was the Man O War. These things can be dangerous if you get too close to them or step on their tentacles. They can cause swelling, stinging, burning, itching and in some people severe allergic reactions.

Some can have tentacles that are several inches long. 

If you do step on one of these, wash the area with salt water or fresh water quickly.

If the pain continues you can apply heat or cold whichever works better.

Try to stay away from these as some people are severely allergic to them. They can cause difficulty breathing and can cause large welts.

 

This article is authored by

Sandy Shores Realtor, Melbourne FL Real Estate

Brevard County Real Estate & Investing

Palm Bay Florida Real Estate News