Monday, February 15, 2016

The Home Buying Process: Best Approached WIth Open Mind.

How many times have you heard the phrase "a little knowledge is a dangerous thing?"

The more exposure, the more you know (or think you know) about something.  That just seems like human nature!

Such can be said about the home buying process.  Think about how much information is available on the Internet.  For example, just this article!

While the process of buying or selling a house in Florida is pretty routine, problems often arise during the purchase process.

Sometimes the problems may even appear to be deal killers.

But most experienced real estate agents have dealt with similar issues in the past.  Sometimes, problems are resolved before a buyer (or seller) even knows the problem existed.  

What does an open mind have to do with buying or selling a home?

First, from the seller side of the transaction consider just these areas.
  • What is your price?  The recommended listing price you are thinking of may not be near your real estate agent's market analysis.  
  • What is your home's condition?  Your opinion of your home's readiness for the market may be different than your real estate agent or, if used, your home stager.
  • What about your attitude toward the first (or any) offer or contingencies?  Some contingencies are not bad. A quick offer may not mean it is not he best offer, etc.
I am not suggesting out a"correct" response for any of these items....only a caution to be open minded when facing the decision

Now, what if you are the buyer?   What about the specifics of your house?  Location, budget, location, age are just some areas to be open minded about as your real estate agent can ask the right questions and make suggestions worthy of consideration.

Recently I was working with two different buyers.   Both had a limited budget although one was much more limited.  I suggested to both shifts in the areas of concentration (both were different parts of Brevard County).

Without going into the details about price, location etc. consider this bit of information.  Brevard County is geographically a long county from north to south – almost 80 miles.  The prices can vary greatly at the extremes as well as along the coast line. (Water and golf always raise the price.)

Although only one took my advice while the other wants to continue with their original location,  I still believe inexperienced buyers are the most likely, in my experience, to be open to suggestions.

Still, I will work with both although I think the one receptive to a new area may find more opportunity for success.

As a real estate agent I do not purport to "know everything."  I recognize how much I do not know.

But, as a Melbourne, Florida real estate agent for over thirteen years, I have a pretty good understanding of the local area and real estate market.

If buyers maintain an open mind then a knowledgeable, experienced real estate agent may have a solution. #RealEstateAdvice    Why would a real estate agent make unnecessary recommendations?

Ready to buy a house in Melbourne, Florida?  Call or text me at 321-693-3850 if I can help.

Wednesday, February 10, 2016

Are There Any Short Sales in Brevard County, Florida in 2016?

A short sale occurs when real estate is offered for less than the monies owed on the mortgage.  These sales are commonly referred to as distressed sales or third party approval required sales. 

Short sales were really a common occurrence several years ago in Brevard County, Florida.

In 2016 short sales happen but are less common.

The following analysis of single family home sales (by type of sale) for January 2016 was produced based on the sales recorded in the Brevard MLS system as of February 8, 2016.

Of the 658 total number of homes sold in January 2016 (percentages rounded):

  15  Short Sales (2%)
115  Foreclosure (18%)
528  Standard sales (80%)

Currently there are 1340 homes either contingent or pending (percentages rounded).  The percentage breakdown by type of sale for these properties is very similar to the January sales:

  86  Short Sales (6.5%)
193  Foreclosure (14.5%)
1061 standard sales (79%)

Currently there are 2,188 active single family listings in Brevard County (as of February 8, 2016).  The make up of these sales is:

    40 Short Sales  (2%)
  146 Foreclosure  (7%)
2002 Standard sales  (91%)

For information on buying a home in Brevard County, Florida, call/text me at 321-693-3850.    If you are considering a short sale, let me help!