June 16, 2017

Making the Most of Today’s Crop of Brevard Homes for Sale

Not everyone who is looking at the homes for sale in Brevard County needs to come up with a winner right away. If their own house has just been listed, they may reasonably estimate that it will be some months before the moving vans need to be summoned. Or they may be contemplating a move only if they happen across just the right place at just the right price.

If you find yourself in a similar kind of low-pressure house hunting mode, some basic truths about homebuying still do apply. Remember that when you finally do find just the right home at just the right price, all of a sudden you could find yourself in competition with others who see the same thing: the house they’ve been looking for!

The takeaway is that, even if your interest in today’s Melbourne homes for sale is strictly low-key, it’s prudent to prepare yourself as if yours is more of a front-burner quest. Although it could seem to be more trouble than it’s likely to be worth, most people in a similar “just looking” frame of mind won’t have gone to the trouble. In other words, when the Melbourne house of your dreams suddenly does come on the market, guess who’s going to be the one to land it?

Here are three checklist items that will position you to make the most of any Melbourne house hunt:

·         Budget seriously. Without doubt, the place to start is by doing some financial homework. If you don’t know what you can comfortably afford, you can’t know which of the homes for sale in Melbourne should be competing for your attention.

·         Get real. Unless you plan to be a cash buyer, having a mortgage lender on your team is well worth the effort. Keep in mind that being “pre-qualified” isn’t the same thing as being “pre-approved”—the more rigorous (and real) process. It spells out the precise size of the home loan you can expect to receive. It’s no surprise that sellers tilt toward prospective buyers who have bothered to get real!

·         Widen the field. Once you have narrowed the field in terms of the price range you will be considering, you can improve the chances of finding a singularly appealing property by widening your search parameters. This can mean considering homes for sale in areas you hadn’t really paid attention to—or opening your imagination to include properties with features or architectural styles you hadn’t previously thought about. Especially in an active market with tight inventories, the open-minded approach is often the one that yields pay dirt.  

Today's low home loan rates are allowing surprisingly affordable monthly payments—numbers which can transform even the least motivated prospects into active house hunters. To see what that means in terms of the actual current crop of Melbourne homes for sale, give us a call! We have offices in Cocoa Beach, Indialantic, Melbourne, Merritt Island and Palm Bay to serve all of your needs on the Space Coast of Florida!

Posted in Buyers
June 7, 2017

If Your Home Hasn’t Sold Yet… Definitely Check the Price!

The residential housing market has been hot. Home sales have bounced back solidly and are now at their fourth highest pace over the past year. Demand has remained strong ­throughout spring as many real estate professionals are reporting bidding wars with many homes selling above listing price. What about your house?

If your house hasn’t sold, it could be the price.

If your home is on the market and you are not receiving any offers, look at your price. Pricing your home just 10% above market value dramatically cuts the number of prosp­­ective buyers that will even see your house. See chart below.

If Your Home Hasn’t Sold Yet… Definitely Check the Price! | Simplifying The Market

Bottom Line

The housing market is hot. If you are not seeing the results you want, sit down with your agent and revisit the pricing conversation.

Posted in Sellers
June 1, 2017

#1 Reason to List Your House for Sale, NOW!

If you are debating listing your house for sale this year, here is the #1 reason not to wait!

Buyer Demand Continues to Outpace the Supply of Homes for Sale 

The National Association of REALTORS’ (NAR) Chief Economist Lawrence Yun recently commented on the inventory:

Last month’s dip in closings was somewhat expected given that there was such a strong sales increase in March at 4.2 percent, and new and existing inventory is not keeping up with the fast pace homes are coming off the market.

Demand is easily outstripping supply in most of the country and it’s stymieing many prospective buyers from finding a home to purchase”.

The latest Existing Home Sales Report shows that there is currently a 4.2-month supply of homes for sale. This remains lower than the 6-month supply necessary for a normal market, and 4.6% lower than a year ago.

The chart below details the year-over-year inventory shortages experienced over the last 12 months:

 

#1 Reason to List Your House for Sale, NOW! | Simplifying The Market

Anything less than a six-month supply is considered a “seller’s market.”

Bottom Line

Let’s get together and discuss the supply conditions in your neighborhood to be able to assist you in gaining access to the buyers who are ready, willing and able to buy now!

Posted in Sellers
May 22, 2017

8 Signs That You Were Destined to Work in Real Estate

Via bigstockphoto.com

Very few people are lucky enough to know what they want to do from a young age and even fewer are fortunate enough to see their dream through. You might have wanted to become an astronaut when you were 4 years old, but the chances that you're currently orbiting earth in the International State Station are fairly slim. But what we think we want to do and what we're destined to do aren't always the same thing. Many real estate agents try various professions before they find their true calling. There's an old saying, "A (wo)man does what he can, until his true calling is revealed." Here are eight signs that you were destined to work as a real estate agent:

1. You're very responsive to people and their needs

Is there anything better than a responsive real estate agent? Actually, is there anything worse than a non-responsive one? If you're in tune with people's needs, and respond quickly to help solve their problems, you'll probably make a great agent. And if this is an intrinsic part of your character, then perhaps you were destined to become one.

2. You love exploring

If you get a high from driving to new areas and discovering places you've never been before, then you might be destined for real estate. Finding yourself down a windy road you never knew existed or coming across a tucked-away home in the middle of nowhere usually comes with the job, and if your heart beats faster when you're exploring, real estate might be your destiny.

3. You're not overly judgmental

To be a successful agent, you need to be discerning, but you can't be judgmental. People have different tastes, live their lives in different ways, and need an advisor they can trust, not one that looks down on them for their decisions. A great agent can work with hippies, businesspeople, and everyone in between without letting their personal opinions get in the way.

4. You have a deep appreciation for architecture and design

There are those of us who like homes, and those of us who live for them. If you find yourself regularly craning your neck like an owl to get a look at a house you just drove past, or take drives through neighborhoods you love just to feel all of the feelings, then your destiny might be more clear than you think.

5. You don't give up easily

Persistence and grit are important in real estate. No one becomes an overnight success, and committing to the career and taking a step and seeing the big picture every now and then is very important. Those who see things through and don't give up at the first sign of adversity are destined to become agents. Those looking for the "quick-fix," usually aren't.

6. You love living by your own rules

If answering to a supervisor seven days a week makes you physically cringe, then you might be cut from the real estate cloth. Being an agent means freedom from being chained to a desk all day, out on the open road, making your own rules. Some of us just can't have it any other way.

7. You're not afraid to put yourself out there

One of the more difficult things for newer agents to adjust to is self-promotion. Without marketing, it's very hard to become a successful agent. Putting your face on business cards, websites, and flyers takes a certain level of fearlessness, and it's important to feel comfortable enough in your own skin and have enough faith in yourself to get out there and do it. If it comes naturally to you, it's one less hurdle you'll have to overcome.

8. You see things for what they could be

Those whose destiny lies in the industry don't look at things just for what they are. They look at what things could be. A run-down home in a great area can be imagined as a idyllic place to raise a family after a little elbow grease. A client looking in one neighborhood can have their eyes opened to another area, one that's even better than the one they've been fixated on. Those whose destiny it is to become a real estate agent can imagine things that are better than what they are now.

Save

Save

Posted in Homeowner Tips
May 20, 2017

Brevard Market Stats Q1 2017

Brevard Market Stats Q1 2017 vs 2016

A quick recap of the Brevard County Residential Report for Q1 2017:

  • Closed Sales are down -0.7% for Q1 2017 in which the number of units closed was 2,158 compared to 2,174 in Q1 2016, with a decrease in cash sales of -15.2% compared to Q1 2016.
  • New Pending Sales are down -2.7% and New Listings are up 4.6%.
    The Median Sales Price for Brevard Single Family homes is up 16.1% to $196,250 compared to a year ago, which was $169,000.
  • Months Supply of Inventory is down -7.4% at 2.5 months compared to 2.7 months in Q1 2016.
  • Traditonal Sales are up 7.6%, with a median sales price of $200,000.
  • Foreclosure/REO Sales are down -53.6%, with a median sales price of $140,000.
  • Short Sale Closings are down -45.9%, with a median sales price of $235,000


A quick recap of the Brevard County Townhouses/Condos for Q1 2017 compared to Q1 2016:

  • Closed Sales are up 7% for Q1 2017 in which the number of units closed was 625 compared to 584 in Q1 2016, with an increase in cash sales of 10.7% compared to Q1 2016.
  • New Pending Sales are up 5.2% and New Listings are down -1.9%.
  • Median Sales Price for Townhomes/Condos is up 4.3% to $145,000 compared to a year ago, which was $139,000.
  • Months Supply of Inventory is down -10% to 3.6 months compared to 4 months in Q1 2016.
  • Traditional Sales are up 14.1%, with a median sales price of $146,500.
  • Foreclosure/REO Sales are down -52%, with a median sales price of $119,487.
  • Short Sale Closings are down -87.5%, with a median sale price of $87,000.

 

Check out the May 2017 National Housing Report!

Save

Save

Save

Save

Posted in Market Reports
May 18, 2017

May 2017 RE/MAX National Housing Report

April Home Sales Cooler Than Typical Spring Season

The brisk start to the 2017 home-selling season slowed down in April with home sales dropping 4.1% below March and 4.5% below the previous April, according to this month’s RE/MAX National Housing Report.
 
Yet the narrative of the ever-tightening inventory coupled with increased prices persisted, as the 53 metro area report saw the trends of a seller’s market continuing:
       -The average number of Days on Market declined for the third consecutive month and April’s 57 days set a new low for April in the report’s nine-year history.
       -The Median Sales Price of $226,000 was the highest price for any April and marked the 13th consecutive month of year-over-year price increases.
       -Months Supply of Inventory, which dropped below 3 months in March for the first time in the report’s history, was 2.8. A months supply of less than 6.0 is considered a seller’s market.
       -Inventory was down 17.6% from April 2016. This is the 102nd consecutive month of year-over-year declines dating back to October 2008.

More than three quarters of the report’s 53 metro areas saw April home sales decline year-over-year. By contrast, March posted a 6.6% year-over-year spike in sales. Even so, April saw homes sell for more than they did in March in 81% of the markets, while 92% of the markets saw higher year-over-year sale prices.

 

READ THE FULL REPORT HERE

Posted in Market Reports
May 15, 2017

May is For Miracles Painting Party

We had a great time at our Painting Party to raise money for Children's Miracle Network Hospitals.  This event was painting our office Ceiling tiles that we will be placing around the office!

Thank you everyone who joined!  We had no idea how much talent was in the room!

Save

Save

Save

Posted in Around the Campus
April 28, 2017

RE/MAX Agents on Average Outsold Competing Agents by More than 2:1

RE/MAX Agents Are More Productive in Annual REAL Trends 500 Survey

RE/MAX Elite Made the list for the 5th Year in a row!!!

RE/MAX, LLC, the #1 name in real estate*, announced its agents outperformed agents with other real estate brands in the 2017 REAL Trends 500 survey. Associates affiliated with the RE/MAX network regularly average double the number of transaction sides per agent when compared with competitors in the annual survey of large brokerages.
 
“RE/MAX and members of the RE/MAX network continue to surpass competitors in annual industry surveys and studies,” said Dave Liniger, CEO, Chairman of the Board and Co-Founder of RE/MAX, LLC. “The 2017 REAL Trends 500 survey confirms that our agents, on average, assist more buyers and sellers with some of the most important transactions of their lifetimes. On behalf of everyone at RE/MAX, I congratulate all of our brokerages that were included in this prestigious survey.”
 
The REAL Trends 500, now in its 30th year, ranks the performance of the top residential real estate brokerage firms in the country. Firms are ranked by both transaction sides and sales volume for the previous year. For the 2017 REAL Trends Survey, firms needed to close a minimum of 500 transaction sides in 2016 to qualify.

 

Read the FULL press Release!

 

 

Save

Posted in RE/MAX News
April 20, 2017

RE/MAX Celebrates Continued Global Growth

RE/MAX Celebrates Continued Global Growth

Over 30,000 Agents Outside of the U.S. and Canada Call RE/MAX Home
DENVER – RE/MAX, LLC, a leading global real estate franchisor, announced today it now has over 30,000 agents outside the U.S. and Canada. In 2016, the franchisor’s agent count outside the U.S. and Canada grew 16.9 percent year-over-year.
 
“We’re incredibly excited and proud to be hitting this global milestone,” said Larry Oberly, Vice President, Global Development, RE/MAX, LLC. “RE/MAX has a global presence that is unmatched by its competitors. Our unique business model revolves around the agent and raises professional standards in the industry by embracing training and transparency. We have the most productive agents who strive to provide their clients with the best customer service possible.”    
 
RE/MAX Europe and RE/MAX Latin America and Caribbean led global growth, with both regions surpassing milestones of their own last year. RE/MAX in Europe now has more than 18,000 RE/MAX agents and RE/MAX across Latin America and the Caribbean have more than 6,000 agents.
 
 
With a presence in over 100 countries and territories, the RE/MAX network’s global footprint is unmatched by any other real estate brand. The franchisor’s total agent count grew 6.8 percent year-over-year in 2016. Over 110,000 agents worldwide now call RE/MAX home.

Save

April 16, 2017

April 2017 RE/MAX National Housing Report

April 2017 RE/MAX National Housing Report

Strong March Home Sales, Low Inventory Means Tougher Market for Buyers

DENVER – March launched the home-buying season with post-recession records for increasing home sales and prices and decreasing inventory, according to this month’s RE/MAX National Housing Report that surveys 53 metro areas.
 
Last month, home sales were 6.6% higher than the nine-year-old report’s previous March record, set in 2016. Thirty-eight of the 53 metro areas in the report showed year-over-year increases.
 
Meanwhile, Months Supply of Inventory dropped below three months for the first time in the history of the report, indicating a market that greatly favors sellers, as six months is considered a balanced market.
 
Active inventory continued to decline, dropping 17% year-over-year. As a result, the Median Sales Price of $225,000—also a March record—was up 11% year-over-year. This was the 12th consecutive month of year-over-year price increases.
 
Homes continued selling faster last month, with the average Days on Market dropping to 64, compared to 68 in February 2017 and 71 in March 2016. 
 
“We expect a seasonal uptick in sales this time of year and March certainly met and somewhat exceeded that expectation,” said Dave Liniger, RE/MAX CEO, Chairman of the Board and Co-Founder“We don’t anticipate the tightening inventory to ease up in most markets until new home construction can catch up to its pre-recession pace. Until then, sellers will enjoy a fast-paced market and buyers will need to work with their agents to get in the right home.”

 

READ THE FULL PRESS RELEASE

Save