Hi Everone!
Well another year has past us by. It's amazing, everything my parents told me as a kid were correct. None more than when you get older time goes way to fast! Boy that's an understatement. So here I sit on New Years Eve with my three cats and my dog. Jeanette, my wife, had to go to CA for an emergency the day after Christmas and she is still out there. The best part of this is that there are three differenct CSI, Law and Order marathons on tonight! Ok, I must be getting old.
Anyway, this isn't really about real estate as it is about reflecting on the past year in the Real Estate business. It's been a tough year for a lot of my fellow Realtors. I know of many that have had to get jobs and move onto different careers. It's really a shame since many of these people are really good, honest, ethical and trustworthy people. On top of the Realtors, there are the people that bought homes in 2004 and 2005 only to watch their home values fall aproximately 30%. Like I said, it's been a tough year. All those consumers who have homes on the market are well aware how tough it is has been this year. If you listen to the media, the end of the world is coming in the housing market. Yes it's been tough, yet there are still people buying and selling homes. Approximately 5% of the homes that are listed, are selling each month. We have been telling people lately, do you want to be on the market or in the market. Only 5% of the homes will be in the market. Each month less than 500 homes are selling. I would venture to say that these people are all happy and relieved that they sold their properties. Whether people want to hear it or not, pricing is what is going to drive your home to a sale. If you are not below everyone else in the neighborhood, then the home may sit there for a long time. Of course there are some exceptions, however not many.
Ok, I really didn't want to get into the doom of the past year. Let's look at the good stuff. As a company, thanks to all of you, our customers, Tropical Realty of Suntree is the number one office in Brevard County for working with buyers. Our small staff did a tremendous job this past year in keeping everything rolling. This coming year we expect to beat 2007 numbers and sell even more homes. One thing I have always believed and have spent my entire business career doing is taking care of people. The more you take care of people and provide exceptional customer service, the more people would prefer to work with you. My staff, your Realtors, are great people. They all sincerely care about our customers before they think of themselves. Do you know how rare that is in a sales environment? It is quite a remarkable feat to have not lost any Agents over the past few years with the exception of two that changed careers. The reason is, we have a very caring, sincere, funny, honest, ethic, smiling group of people who fill out our Realtors and our Admin staff. We all get along great and I believe this shows when we are helping our customers.
So for 2008 I wish all of you a great year. If you are trying to sell your home, no matter what state you reside, and you need help or suggestions, please don't hesitate to ask. There are a few things we have tried that have worked pretty well. I also have an entire network of Realtors that we work with around the country so if you need to sell your home outside of Florida and would like my help in getting a good Realtor in your area, just drop me a note. My email is mitch@mitchrealty.com and phone number is 321-258-4150.
Happy New Year!!!
Mitch
Showing posts with label Cocoa Beach. Show all posts
Showing posts with label Cocoa Beach. Show all posts
Monday, December 31, 2007
Monday, July 2, 2007
2nd Quarter Stats!
Hi Everyone!
Well it's that time of the year again where I let you know the current stats going on in our Real Estate market in Brevard County. The market seems to be holding steady. It's not getting any worse and it's not getting much better. At the moment the interest rates are right around 6.875% which are a little down from over 7% last week.
Stats for the 2nd quarter of 2007 (April 1 - June 30) are as follows:
Single Family Homes
Currently on the Market - 7,727
Units Sold - 1,402
Condos and Townhomes
Currently on the Market - 3,183
Units Sold - 368
Lots and Land
Currently on the Market - 4,333
Lots Sold - 168
Average Single Family time on Market - 101 Days
Average Sales Price to Listing Price - 93%
The best deals to be had our in the condo market. As you can see by the stats they just are not selling. Two years ago it was unheard of to find an Oceanfront unit anywhere in the county for under $300k. Now there are close to 50 units in that price range. Of course some of them are small. My favorite is one of our listings at Ocean Club in Melbourne Beach. This is almost 1,300 sq. ft. with two master suites, both with great Ocean views. This condo is currently listed for $299,900. My guess is this will sell fairly quickly because of the bargain price. We also have another condo that just dropped its price to $199,900. This is a riverfront condo on the 7th floor and over 1,500 sq. ft. This 2 bedroom 2 bath condo is located in the center of Merritt Island across the street from the mall. Great location and great price. This unit 2 years ago would have sold for as high as $300k. Such a deal! If you would like more details about either of these properties don't hesitate to call or email us. Our phone number is (321) 259-9115.
With that said, single family homes are down in price over 20% from 2004 with lots of great deals out there. This is the best buyers market we have had in a long time. With over 10,000 single family dwellings on the market, there are a lot of motivated sellers out there. This is great news if you are a buyer.
I have heard from some buyers who are wanting to wait until the market is at the bottom. As you may or may not know, there is no way to tell that we are at the bottom. I can tell you this, housing prices appear to be holding pretty steady right now. Those who told me they wanted to wait are now faced with houses that were the same price a few months ago and the interest rates are up over 1%. So in the long run, they have already missed the lowest price based on both sales price and interest.
One last thing. If you haven't seen it yet, we are holding our first annual customer appreciation night at Space Coast Stadium in Viera this Saturday Night. We will be enjoying a baseball game with the Manatees and fireworks after the game. If you haven't reserved your ticket and would like to go, please contact us immediately so we can get you on the list. The game starts at 6pm.
As always, if there is anything I can do for you, don't hesitate to ask. We are always here for you.
Have a great week and a Happy 4th of July!
Mitch
Well it's that time of the year again where I let you know the current stats going on in our Real Estate market in Brevard County. The market seems to be holding steady. It's not getting any worse and it's not getting much better. At the moment the interest rates are right around 6.875% which are a little down from over 7% last week.
Stats for the 2nd quarter of 2007 (April 1 - June 30) are as follows:
Single Family Homes
Currently on the Market - 7,727
Units Sold - 1,402
Condos and Townhomes
Currently on the Market - 3,183
Units Sold - 368
Lots and Land
Currently on the Market - 4,333
Lots Sold - 168
Average Single Family time on Market - 101 Days
Average Sales Price to Listing Price - 93%
The best deals to be had our in the condo market. As you can see by the stats they just are not selling. Two years ago it was unheard of to find an Oceanfront unit anywhere in the county for under $300k. Now there are close to 50 units in that price range. Of course some of them are small. My favorite is one of our listings at Ocean Club in Melbourne Beach. This is almost 1,300 sq. ft. with two master suites, both with great Ocean views. This condo is currently listed for $299,900. My guess is this will sell fairly quickly because of the bargain price. We also have another condo that just dropped its price to $199,900. This is a riverfront condo on the 7th floor and over 1,500 sq. ft. This 2 bedroom 2 bath condo is located in the center of Merritt Island across the street from the mall. Great location and great price. This unit 2 years ago would have sold for as high as $300k. Such a deal! If you would like more details about either of these properties don't hesitate to call or email us. Our phone number is (321) 259-9115.
With that said, single family homes are down in price over 20% from 2004 with lots of great deals out there. This is the best buyers market we have had in a long time. With over 10,000 single family dwellings on the market, there are a lot of motivated sellers out there. This is great news if you are a buyer.
I have heard from some buyers who are wanting to wait until the market is at the bottom. As you may or may not know, there is no way to tell that we are at the bottom. I can tell you this, housing prices appear to be holding pretty steady right now. Those who told me they wanted to wait are now faced with houses that were the same price a few months ago and the interest rates are up over 1%. So in the long run, they have already missed the lowest price based on both sales price and interest.
One last thing. If you haven't seen it yet, we are holding our first annual customer appreciation night at Space Coast Stadium in Viera this Saturday Night. We will be enjoying a baseball game with the Manatees and fireworks after the game. If you haven't reserved your ticket and would like to go, please contact us immediately so we can get you on the list. The game starts at 6pm.
As always, if there is anything I can do for you, don't hesitate to ask. We are always here for you.
Have a great week and a Happy 4th of July!
Mitch
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