Melbourne Area Blog

The first signs of a "turn around" or "leveling" of the Real Estate market is an increase in the number of sales. Here in Brevard County we have seen the number of sales increase in the past 5 out of 6 months.

Have the prices hit bottom? Probably not. There are still many "short sales" and foreclosed properties sitting on the market. However, homes that are priced correctly and show well are selling rather quickly compared to last year.

There are buyers out there... and they are buying! With interest rates at the lowest rate seen in years, it is still a buyer's market.

I look for the number of sales to continue to increase throughout 2009. The prices may still drop some, however I look for a leveling by the second half of the year.

Remember, we live in a wonderful location with great quality of life. We cannot be compared to what the market is doing across the rest of the nation!

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We will update this blog weekly... no later than Mondays at 9PM!

DEADLINE FOR FILING IS MARCH 1, 2009!

A few quick facts about the Homestead Exemption..

If you purchased a home in 2008 and it is your primary residence the homestead exemption must be filed before March 1, 2009.

If you have not moved or purchased a home your Homestead Exemption will automatically renew. The Property Appraiser will mail a Homestead Exemption Card. The property owner's obligation is to advise the Property Appraiser if the property is no longer used as the owner's homestead*.

Questions?

sandy@sandylegere.com

We have several positive factors going for us in this New Year!

1. Interest rates are at a 30 year low. Just under 5% for a 30 year fixed rate mortgage. In some instances at around 4.5%

The local banks are lending.... just drive around town and read their signs. Quite a few are advertising money to lend.

2. The number of sales each month has been increasing for the better part of last year. compared to the same month in the previous year.

Since January 1st of the new year there have been 400 single family homes go "contingent" or "under contract".

3. Although inventory is still high due mostly to "short sales" and foreclosures, the inventory is down from 7300+ single family homes listed in December to under 6000 listed right now.

Amazingly enough in the last few months I have seen several hones purchased, remodeled and put back on the market. It looks that the investors may be back in the market!

Questions or comments?

sandy@sandylegere.com    

A Look Back at 2008    

It is all gloom & doom in the media for the Real Estate market, however, Brevard County has shown in increase in sales in the last half of the year. Amazingly enough in the month of September (which is a notoriously slow period for real estate sales), the number of single family sales was up a wopping 41% from September of 2007. Following are the numbers compared to the same month a year ago:

July - +7%

August - +15%

September -+41%

October - +18%

November - -15%

December - the final figures are not available yet, but we are holding about even from December 2007.

Yes, the price of single family homes has dropped about 20% year to date, but the increased sales is encouraging.

Also, with interest rates at their lowest point in many years, it is a great time to buy a home!

If you would like statistics on Condo or Townhome sales please email me:

sandy@sandylegere.com

Check back for a look into 2009 or subscribe to my blog!

My New Years resolution is to post Brevard Real Estate information more frequently!