Home Buyer Tips: Are You Buying a House or Just Browsing?

Let me say it up front - no one, including this real estate agent, likes pushy sales people asking all sorts of intrusive questions! 

But sometimes the questions are necessary.

I don't buy a new car very often but when I do I start out the same way.  Research on the Internet and then walk onto the car lot.  And when approached by that car sales person I always say the same thing...just browsing.

My wife and I purchased some furniture last weekend.  We went through six furniture stores in the Melbourne, Florida area over a couple of days.   Six stores and six sales people.

I told some of them we were just looking to see what they have in stock.  I even told one that I did not know what we looking for!  They all left me alone to browse and leave. 

Except the last who let us browse but also asked questions which led to the ultimate purchase.  No, I did not really want to reveal too much information...you know how pushy sale people are!

But, in the end, it was necessary to get my questions answered and make the purchase decision. 

Which brings me to your real estate agent and those darn questions.

When you contact a real estate agent as a prospective buyer you will be subjected to questions. 

These questions are necessary to determine your goals.  They are necessary to determine your budget.  They are necessary to understand your circumstances and how best to guide you to your goal.

You may think they are intrusive although trust me when I say they are well intentioned.  You may be a little uncomfortable in the beginning but, in the end, the relationship you develop with your agent will be necessary to achieve your object.

Ready to buy a home in Viera, Florida?  Please give me a call at 321-693-3850 or send me an email.   Have a question about the local Brevard County, Florida real estate market, please ask. 

Questions your Realtor may ask
First Time Home Buyer Questions and Answers
Two Questions That Must Be Answered Before Looking at Homes
Why do real estate agents ask so many questions?

And if your goal is to just browse attend a few open houses this weekend.  Find something of interest, give me a call!


Image courtesy of jackthumm at FreeDigitalPhotos.net

Brevard County Residential Report for March 2015 compared to March 2014

Brevard County Residential Report for March 2015 Compared to March 2014:

• Closed Sales increased 21.9% in March 2015 with 942 units sold (773 in March 2014 2014).
• New Pending Sales are up 49.7%.
• New Listings are down -3.6%.
• Median Sales Price for Brevard County Single Family Homes are up 13.6% to $150,000 compared to a year ago, which was $132,000. 
• Median Days on the Market are down -40.0% to 30 days vs. 50 days last year.
• Months’ Supply of Inventory is down -11.5% to three months
• Traditional Sales are up 34.2% with a median sales price of $169,000.
• Foreclosure/REO Sales are up 1.5%, with a median sales price of $102,000.
• Short Sales are down -34.9% with a median sale price of $112,450.

New Construction Homes For Sale in Viera, Florida

I had someone ask me about new construction in Viera, Florida last week.  I reviewed some of the current projects underway such as Strom Park and Arrivas Village as well on going new construction in the Heritage Isle 55+ community.  

After providing information on Viera and the schools in Viera the caller asked about new construction next year and whether the prices would be lower.

Who knows what the cost of materials, land and even the cost of labor will be next year?  Who knows what the demand for new construction will be as well as any inventory homes, if any, on the market?

The current trend is for prices to increase as evidenced by the past twelve months' sales in Brevard County as provided by the Florida Realtors®..

I can only say this about home prices next year....To expect new home prices to drop considerably is likely very unrealistic!

With interest rates near historical lows and prices rising this may be the best time to buy a home in the near future.  Send me an email if you are ready to buy a home in Viera, Florida.
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Remember, you can have your own real estate agent with new construction - call me at 231-693-3850.

• Should you have your own agent if buying new construction? 
• Why do I need my own buyer's agent

Home Buyer Tips: Why was my offer not accepted?

It is becoming increasingly more common to see multiple offers in the current Brevard County, Florida residential real estate market.  And when a prospective buyer's offer is not accepted they often turn to their agent and ask "Why?"

However, until a real estate transaction closes the likelihood of knowing anything about the other offer will be slim.   And once the transaction closes the specific terms of the deal will probably not be known as the recorded transaction will reflect only a selling price, and recorded mortgage, if any (and possibly any seller concessions if the listing agent records it in the MLS system).

So even when the dust settles the"why" may never be known.   However, any likely explanation could involve one or more of the following items.

• Price.  Yes, this is the first place to look.  After all, when the dust settles it almost always price.  While many believe cash talks, so does a mortgage when the buyer is well qualified. 
• Closing date.  Sellers have a time line.  If they want to close in a month then an offer that wanted to close in sixty days may not be acceptable.  
• Closing cost assistance.  Although a price offered may be higher, asking the seller to throw in 3% for closing cost assistance may not be looked upon as favorable.   Offering full price may not be full price after the appliances are thrown in or closing costs are contributed. Its the net price - not necessarily the price on line one.
• Contingencies.  The normal inspection and appraisal contingencies are expected by most sellers.  But a contingency so your spouse can travel to see the house in a couple of weeks may not be looked upon favorably. Likewise, a contingency so a buyer can sell their current home may not be very attractive either.

On the other hand I have had my buyers, once an offer is accepted, ask me if the seller would have taken less?  I can only assure them of one thing - if I knew a seller would take less then I would have recommended we offer less!

As a buyer consider this... Offer what you are willing to pay for a property under terms that fit your circumstances, budget and needs.    And if the offer is not accepted or countered, move forward.

Ready to buy or sell a house in Melbourne, Florida?    Call me at 321-693-3850.  I want to help if I can in any way!