It is a great time to be involved in the Real Estate industry; home prices are great, interest rates are at historic lows, and there are still government incentives to purchase a home.  The government incentives are set to expire, and you will need an executed contract by the end of April to take advantage of the tax credit.  There is still time to get in on this once in a lifetime deal, so do not delay, act now!          

 The trend of lower price listings selling continues into February.  With almost 80% of the transactions in Brevard County under $200,000, there seem to be great deals out there, with buyers purchasing value.  These low prices are allowing those who were not able to purchase what they where looking for a few years ago, to get into the right home at the right price now. 

While 50% of homes are still being financed, this February 2010 we had 254 cash Transaction which accounted for 49% of the market.  With almost 50% of all homes in Brevard county being purchased with cash, following January’s trend, it appears as though Cash is still ruling the market.  This is a sign that people see no better place for their money than in real estate.  This is a true signal that we are at or near the bottom. 

While we have almost returned to a “normal” market, it has been shown that homes are selling.  If the home is priced right, it will sell in a reasonable amount of time.  New listings that are aggressively priced are quickly sniffed out by those looking to buy, and usually have offers in on them in a short amount of time.  If you find a home that you love, and it is priced right, then you have to act fast.  With interest rates as low as they are, government incentives still on the table, and homes aggressively priced – It is a great time to be a buyer.  If I can help you discover your purchasing power, or take a look at your financing options, please contact me today!

Brevard County real estate sales continue to thrive.  New listings are down, sales are up, and interest rates are still at historically low levels.  With sales up almost 20% year over year, and inventory down about the same, it seems as though the market is moving at a fairly decent pace.  So ask the question: is the market changing?

Sales continue to show strong numbers, and inventory is decreasing.  With 79% of the sales being under $200,000, buyers are still looking for the bargains.  These “bargains” are going fast, as 37% of September sales sold in less than 30 days.  That means that if the price is right, the house will sell, fast!  I do not think we are in a sellers market, however, in the lower price points, it is starting to feel that way.

With 60% of homes being financed in the Brevard County area, buyers are still taking advantage of the historically low interest rates.  With the majority of the financing being done through FHA and VA loans, many are enjoying the benefits of these government insured and guaranteed loans.  With the $8000 First time Home Buyers credit still being offered, first time homebuyers are rushing to the market to find their dream home, however, the deadline is fast approaching.

All in all September’s Brevard County mortgage and market data proved to be in line with the theme that the market is improving and changing.  Sales are up, inventory is down, rates are still low, and with incentives to purchase for first time homebuyers, it is an amazing time to purchase real estate!  So, make sure that you speak with a mortgage professional to get an idea of you purchasing power and financing options, and then go out there and get yourself a deal before the market has “changed”!

                The Brevard county real estate market continues to improve at a rapid pace.  Looking at the data for May 2009, sales are up 7% over April 2009.  Sales are also up over 18% year to date through May verses last year.  Sales are up, rates are low, and prices are still favorable.  This is a great time to buy a house.

                Even if you think that prices may still drop, the impending increase in interest rates will more than likely outweigh a small decrease in price (check out this article on this subject).  And with sales on the rise, it is only a matter of time before pricing rebounds.

                While most of the single family residences sales in May seem to be below $100,000, 62% of the sales are above $100,000.  The properties below $100,000, in addition to the first time homebuyer credit, still present an excellent opportunity for those first time home buyers.  If you want to buy a house, but are waiting, you may lose $8000.

                Don’t forget, contrary to popular belief, financing is still available.  66% of those homes purchased in May of 2009 were financed.  Rates are still historically very low, and people are closing on homes with financing.  It is always in your best interest to consult a mortgage professional to go over your purchasing power and financing options.

                     Homes are still priced very aggressively, and interest rates are also at historical lows.  If you have the means to do so, or are even thinking about it, you need to speak with a professional to see if you can make it happen.  Not only will we not see these low prices again, we may not see these low interest rates; and if you are a first time homebuyer, or have not owned a property in three years you may be entitled to an $8000 tax credit.  Now go out there and buy a house!