Brevard Real Estate Blog

Recent real estate sales statistic about the real estate market indicate prices are continuing to slide at 1.8 percent per month...where will it stop, nobody knows.

Here in Brevard county our real estate numbers in then month of September showed we had around 7600 single family homes for sale and only 308 homes sold.  I wish I could give you a real number for the average Days On the Market but our system only lets us average the DOM for the most recent realtor who has or had the property listed.  In a huge number of the listing many properties have been listed several times by many different realtors.  So, we can not factor in the true TOTAL days on the market for a property.  The numbers we have now show around 110 Days on the market...if we could factor in the information above, I would think we the the true average DOM is propably around 200 or higher.

I just watched the Big Don (Donald Trump) on a CNBC and he said he thinks real estate is still a good investment and we should start considering investing in the next 6 months to a year...maybe he is setting us up to help him earn some huge profits at that time<grin>

In my humble opinion and from other stats I have been reading it looks like our market may not even find bottom until maybe 2011...no one has a crystal ball and only time will tell.

Side note for people thinking of selling on their own (FSBO)...NAR stastics showed that last year (in 2006 the market was actually better then) the the average FSBO sold at a rock bottom price of $187,200, while the average Realtor Assited sale was at a whopping $247,000, leaving $59,800 of their hard earned equity on the table. Good news is the FSBO did save the 6% commission...if you want to know exactly how I can sell your home for more than you can, give me a call and I will give you the 6 Rock Solid reasons you should never sell your home For Sale By Owner and I will also explain exactly where buyers come from so you will fully understand why you need to list your home with me now.  Give me a call at 321-693-0771

That's all for now...Larry Fleckinger
larryfleckinger@yahoo.com

www.BrevardRealEstateGuide.com

Alright, the new buzz word today in real estate is "short sale"....simply put a short sale is when a bank agrees to take less then what they are owed on a mortgage.

It sounds really simple when in reality make a "short sale" is quite complicated. You see there are no standard guidelines for lenders when it comes to having to give up their money.  In many cases, each lender has a different "short sale" policy.

The way it works for Brevard real estate in our Brevard MLS is even being challenged.  We are scrambling to try to come up with rules that will protect the buying and selling public when it comes to short sales...I will let you know later how this comes out.

The good news is that "short sales" afford a buyer the opportunity to "maybe" make an exceptional buy on a distressed property before it goes to foreclosure.  The key to making this purchase is very simple...you must have time and patience on your side...short sales can take anywhere from 7 days to up to 45 days to just get approval from the lender.

If you have the interest in trying your hand at purchasing a short sale here in Brevard County give me a call and we can meet and I will walk you through the process and give you all the pros and cons.  I will also set  you up so you can receive a copy of all the short sales available in our Brevard MLS.  Just shoot me an email or give me a call at 321-693-0771.

Thanks for reading and have a great day!
Larry Fleckinger
Re/Max Aerospace Realty
www.BrevardHomeSource.com
www.BrevardRealEstateGuide.com

larryfleckinger@yahoo.com

I recently talked to a past client just checking in to see how he was doing in his new out of state home.  He said he was very happy and thanked me for my help selling his home...he said he appreciated the fact that I pushed him VERY hard on listing the home at the RIGHT PRICE to get his home sold, because if he would have stayed with "his" price he would probably still be in the home or worse yet sold his home for $1000's of dollars less! 

This client like most of us want to believe our home is worth a lot of money...but in reality in this market it is only worth what a buyer is willing to pay for it.  And the sooner you get your home sold in our declining market, the more of your hard earned equity will be going into your pocket at closing.

Many people, who purchased Brevard Real Estate more that 3 years ago and did not refinance when we had our Brevard Real Estate boom, still have a substantial amount of equity in their home created by the boom.  So, if you are one of these lucky folks and you want to get your Brevard home sold, give me a call and I will tell you the TRUTH about exactly what it will take in this market to sell your home....Call me at 321-693-0771

Have a great day!
Larry Fleckinger
larryfleckinger@yahoo.com
www.BrevardRealEstateGuide.com