Florida Homes and Condos for Sale

 A few days ago I wrote about condo living  in which I discussed the positive points of condo living. 

Here I would like to point out a few "cons"-iderations before purchasing that Florida condo. Your real estate agent will probably have a few more as well!

• A major consideration these days is the number of vacant units in the complex.  Lenders are especially concerned before handing over a loan.  This should be one of the top concerns of any prospective buyers as well!
• How many units are up for sale at the present time? How many of these units are bank owned/foreclosure properties? How many of these units are short sales?
• How many of the units are rented and what percentage may be rented should you decide to move and keep your unit. 
• What are the monthly assessment fees? When was the last time the assessments were changed? 
• What about the condo association's financial status?  When were the books audited and what is the financial stability of the association? How much is the association reserves?  What is the current budget? 
• What about the covenants, restrictions, bylaws?

As a condo owner you have ownership rights in the common areas.  Likewise, as a condo owner, you have responsibilities when it comes to maintaining the entire complex. 

The bottom line - every owner is on the hook for the association responsibilities and liabilities so know where you are headed!

Depending on the location checking with a real estate attorney may just be the right choice for you.

I can “recall” [pun intended] the good old days when houses were selling in a month or two…and Toyota cars were the talk of the auto industry.   My how times have changed!

Wait a minute.

Toyota is still the talk of the auto industry and houses are selling. 

Could it be the good old days have returned?

Pricing your house competitively, realistically and preparing it for the market will result in your house being sold. 

Naysayers will always say it can’t be done.

Who are these naysayers? 

They are those who insist on pricing properties too high and then sit back and complain about not getting any offers. They are the sellers who are hiring real estate agents who lack the motivation, skills  and knowledge to get the job done right!

Price your house right and you will be as busy with buyers as Toyota is with fixing their recalls!  

You may even have to take a brake [pun intended, again]!

There are several tenets of real estate that we frequently pass along to sellers including the old standby "Location, Location, Location," and "the market sets the price."

While these are true I think we should add one more to tell sellers:  "Even overpriced listings serve a purpose in the real estate market!"

When you place your house or condo on the market, you want to get clients for your real estate agent, right? 

Of course the main only client you want to attract for your real estate agent is a buyer for your house, right?

I see a lot of overpriced residential listings in the Brevard County real estate market - still.  Perhaps yours is one of those overpriced proeprties in Viera Florida that has been on the market for a long time. 

If you are not priced competitively for the market you will accomplish two things:

1. Not get a buyer for your house
2. Get calls (clients) for your real estate agent so he can sell others homes.

You do not want to have a billboard (sign) in your front yard while your own house gets ignored by the buyers!

Real estate listings are the life blood of the real estate business - even the overpriced listings serve a purpose in the business!

This lady could teach us a lot about routine maintenance.  If folks cared for their houses and condos in the same manner!  If you cared for your customer in the same manner, as well!

Real Estate Appraisers don’t give a hoot about statistics.  They care about only two things - the most recent sales and closest properties that most nearly match the subject of the appraisal.  Black and white numbers and characteristics.

Real estate agents and their sellers use basic statistics (numbers, factual) to determine list prices.  (They should use "sold prices" in their calculations as list prices are "hoping to get" prices!)  Likewise, real estate agents and buyers use statistics (numbers, factual) when they determine an offer price. 

These two prices, listed and offer, are rarely the same.  Why?

Because, even if they use the same methodology, they don’t necessarily use the same data – thus the results offer received is can be different than the offer expected!

There are other reasons such as buyers always see the condition of a house as less than the seller views the condition. 

I have found some buyers will start nitpicking and criticizing a house when they are setting me up (as their buyer's agent) to justify a low ball offer they are considering!

Some buyers see the see the market as still in decline and they don't want to over pay.  Perhaps they still have questions about potential short sales and foreclosures in the neighborhood.

Prices - list price, offer price, and sale price - must all be based in logic and numbers - not hope alone!

If buyers and sellers (and their real estate agent) use the data and logic, the offer and list price should be within a "negotiable range!"

Pay it off and lower your payments...

Pay it off and lower your payments....

You have seen them I am sure. The commercials, usually from car dealerships, promising to pay off your loan and reduce your payment on a new car....if you purchase a new one.

Of course they leave out the new purchase will increase your debt load or length of obligation!

This brings back some (bad) memories of banks offering to "give"folks a home equity loan a few years ago.

Take the cash out of your investment, etc

Problem was your house, if it is your primary residence, is, first of all, your house.

It is not a primary investment and should not be treated as such.

Unfortunately some have learned that lesson too late!

If you are upside down, lost your job, had a change in your family situation or fo some other reason have lost your ability to pay for that house in Viera or Rockledge, Florida, a short sale may be a way to get you back on track.

Give me a call and lets discuss your situation and how we can help you avoid a foreclosure!

Originally posted on my blog Moving to Brevard County Florida.

How to choose a Brevard County (or any other!) Real Estate Agent ..

There are lots thousands of real estate agents out there.

Some work best with clients who want to act right now- get it bought or sold yesterday!

Some are real estate agents are methodical, extremely patient and willing to educate the first time home buyer, show multiple properties and spend lots of extra hours with you.

There are some real estate agents out there who specialize in short sales. A short sale is a situation where the sales price will be less than the mortgage owed and will require lender approval.

Short sales are very demanding but can be done with the right real estate agent!

There is a real estate agent for every buyer and every seller. Finding the right Brevard County Florida real estate agent is not like playing the lottery!

I work with some of the best real estate agents in Brevard County, Florida. They all have different skill strengths and personality types. 

In real estate estate, it is not a one real estate agent fits all!

If you are a buyer or seller in Viera and Suntree Florida and need a real estate agent, give me a call. Let me help you choose the right Realtor for your needs.

Please read my blog Florida Homes for Sale for tips on buying and selling real estate in Brevard County, Florida.

The Heritage Isle community in Viera (Melbourne, Florida) - long known in the central Florida region as the 55+ community - offers several choices of housing for those relocating to central Florida.

Although most look at the single family detached houses as well as the patio/villa style homes, there are excellent condos available as well.

Priced between $135,000 and $162,5000, these waterfront condos are situated next to the 21,000 club house facility and tennis courts.  Many of these units overlook the fairways of the exclusive Duran Golf Club to the east...an amazing sunrise!   All units are two bedroom two bath with square footage ranging from about 1,100 to 1,400.

In January 2010 there was one unit that closed in the condo complex for $149,000.

For information on Heritage Isle or any of the  Brevard County Florida 55+ communities, please give me a call or email me at agent@moving2brevard.com.