T


he Future of Real Estate


It’s been an interesting few years here in Brevard County, Florida. Things were humming along nicely in 2005 when the market and our economy hit a wall. Over the past few years we have heard everything from “You can buy a home in Brevard County for $10,000” to “I’m waiting for the bottom to come” and more. As a Real Estate Brokerage that deals with buyers coming from all over the country and world, we have seen what the national media has done to our market. We spend a lot of time with our buyers and out of state sellers explaining the truth behind our market, not what the media wants you to hear.


So what is the truth? The reality is, for the past year, our home prices have remained relatively stable. Homes that are priced at market value have been selling in a reasonable time period of usually less than 3-4 months.


So what is the truth? The reality is, for the past year, our home prices have remained relatively stable. Homes that are priced at market value have been selling in a reasonable time period of usually less than 3-4 months.


he Future of Real Estate


It’s been an interesting few years here in Brevard County, Florida. Things were humming along nicely in 2005 when the market and our economy hit a wall. Over the past few years we have heard everything from “You can buy a home in Brevard County for $10,000” to “I’m waiting for the bottom to come” and more. As a Real Estate Brokerage that deals with buyers coming from all over the country and world, we have seen what the national media has done to our market. We spend a lot of time with our buyers and out of state sellers explaining the truth behind our market, not what the media wants you to hear.


Homes that are selling have been selling at 92.8% of the listing price.


We use statistics like this to help educate our buyers and sellers. sellers. et allows


Understanding the market allows us to better help our customers customers r reach their Real Estate goals. Sometim


We use st educate ou Understan us to bett each the


goals.


Sometimes this isn’t possible as t their goal


sible as


heir goals are out of line with with r reality. Th


market value is offered for a home, t the outco


eality. The reality is that where market val


where or a home,


he outcome will be a successful t trransaction for both buyer and seller. Offer your home for sale at market value and it will sell in a easonable time. This isn’t rocket science, it’s common sense.


successful


ansaction for both buyer and seller. Offer your home for sale at


market value and it will sell in a r reasonable time. This isn’t rocket


science, it’s common sense.


So where are we going from here? As the low end homes continue to move fairly quickly through the market , we will start seeing prices increase over the next 12-18 months. The issue with this is, as home prices start to edge up, so will interest rates.


So where are we going from here? As the low end homes continue to move fairly quickly through the market , we will start seeing prices increase over the next 12-18 months. The issue with this is, as home prices start to edge up, so will interest rates.


to help


Homes that are selling have been selling at 92.8% of the listing price.


If If interest rates increase from 4.5% 6.5%, you can expect to pay at st 10% more per month for the


interest rates increase from 4.5% - - 6.5%, you can expect to pay at lea least 10% more per month for the home you are purchasing today. rest rates are going up. There no question about hat; the question is when. If you are nking of buying a home right


home you are purchasing today. Inte Interest rates are going up. There i iss no question about that; the question is when. If you are thi thinking of buying a home right now, this might be the best time in 10 years to do so. With homes priced, or being sold for as low as they were in 2000 and interest rates at a 50 year low, there doesn’t seem to be a better time to move up or buy your first home.


now, this might be the best time in 10 years to do so. With homes priced, or being sold for as low as they were in 2000 and interest rates at a 50 year low, there doesn’t seem to be a better time to move up or buy your first home.


If you are interested in buying or selling, please feel free to give us a call. We are always here to help!


If you are interested in buying or selling, please feel free to give us a call. We are always here to help!


(321) 259-9115 (321) 259-9115


Article by Mitch Ribak, Broker/Owner, Tropical Realty of Suntree, Inc.


Article by Mitch Ribak, Broker/Owner, Tropical Realty of Suntree, Inc.


To view all available homes in Brevard County, visit www.MelbourneHomeSearch.com To view all available homes in Brevard County, visit www.MelbourneHomeSearch.com


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