2/2/2 condo! Amenities galore! Original owner, pride of ownership! 

Exquisite gated community!  Original owner, ground floor, end, corner unit with sparkling ceramic tile throughout!  One of the few units with a 2 car attached garage! Ceiling fans!  Sprawling eat in kitchen with breakfast bar and oodles of cabinets! Inside laundry room!  Handicapped accessories!  Alarm system-AS IS!  Amenities include tennis, community pool, sauna, racquetball, jogging, playground & clubhouse!  This complex has so much to offer! Hurry and see it today! 

MLS #501501

$118,995 

2 bedroom, 2 bath, 2 car garage!

Contact list agent, Sandy Shores, M & M Real Estate, 321-253-4545 or 321-733-6080.

Brevard County Real Estate - Florida's Space Coast

www.sandyshoresmelbourne.com

Do you know what's on your credit report?

Get your FREE ANNUAL CREDIT REPORT today!

Today, it is important to review your credit report on a regular basis, due to the increase in identity theft. If you are considering buying a home soon, it is important to know what info your credit report contains before starting the homebuying process.

According to the Federal Trade Commission in 2003  FACTA requires the nationwide credit bureaus to provide consumers with a free copy of their credit report, at their request, once every 12 months from the 3 major reporting agencies Equifax, Experian & Transunion. Consumers who want to access their credit report online can go to AnnualCreditReport.com

or by Telephone:(877)-322-8228

or by mail: Complete the Annual Credit Report Request form and mail it to the following address: Annual Credit Report Request Service P.O. Box 105281 Atlanta, FL 30348-5281

 

According to the Melbourne Area Association of REALTORS the Monthly Statistics for Brevard County for March 2008, provided by the National Association of REALTORS is as follows...

There were 274 listings sold for the month. This was an increase of 25.69% in units sold from February 2008. Average market time was 109 days for sold units.

There were 22 condo listings sold for the month. This was an increase of 15.79% in units sold from February 2008. Average market time was 176 days for sold units.

There were 15 townhouse listings sold for the month.  This was a decrease of 28.57% in units sold from February 2008. Average market time was 92 days for sold units.

Conventional loans were used to purchase nearly 40% of the properties.

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I love living in Brevard County.  We are centrally located to so many great places, without being in the hustle and bustle of the big city.  We can just hop in the car, and drive 40 to 60 minutes to Orlando and enjoy all of the great attractions and accommodations. It’s the perfect fun filled weekend destination.

Currently the Orlando/Orange County Convention and Visitors Bureau has announced it’s Florida Residents save Big in Orlando during extra value weeks.
 
Florida Residents are being offered Extra Value weeks from April 13-June 4, August 17-October 2 and November 30-December 18.  Various hotels are running reduced room rates.  Other fun items are movie passes, gift cards and free Universal Orlando merchandise.

 
Check out the following links for more information:

Florida Resident Deals Offer Great Orlando Values

Florida Resident Deals Offer Great Orlando Values

Offers & Discounts

Great Money-Saving Offers & Discounts

Florida Residents 

Proof of Florida residency is required to qualify for the Florida Residents Specials. 

Don't forget to check for added savings with an Orlando Magicard. It provides savings on attractions, accommodations, restaurants, shops and more.

download and print a Magicard or request a Magicard online.

Be sure to check for "top 10" ways to stretch your vacation dollars in Orlando.

For additional information check the Orlando/Orange County Convention Visitors Bureau website at Orlando.

Currently, in some areas of the country we are experiencing a decline in home values. Many areas are undergoing market corrections, trying to correct for the over inflated home sales in 2004-2005.

In some areas we are hearing that homes values are dropping by $3000 to $5000 a month, or more. 

Many sellers are placing their homes on the market at yesterday’s prices.  The home sits for a month, maybe two, with no showings and no offers.  So, the seller decides to reduce the price.   Well, if he started too high, his price reduction in a declining market may be a day late and a dollar short.  One or two more months go by, with few showings and no activity, another price reduction is in order.  But, is the seller in fact, too late?  Will his late price reductions move his overpriced listing? No, because he is behind the true value of today’s market.  Will he ever catch up? 

In some areas of Brevard County today, there is a 10 to 12 month supply of homes available for sale.  This number does not include homes coming on the market, daily.  In some areas, only 10% to 15% of the inventory is selling per month.  So, what happens to the other 85% to 90% of homes that don’t sell?  The listings are growing stale, sitting unsold, expiring. 

Today, it is imperative for a serious seller to price strategically in the “sea” of homes on the market.

It's a buyer’s market, as the inventory is plentiful. And, buyer’s want a deal! Today, some owners that have been in place for 5 or more years are in a position to offer their homes at reasonable prices.  So. buyers are finding those deals! Those sellers who purchased several years back, have seen appreciation of sometimes 30% to 50% or more in some areas  (depending on their location and the price point of their home.) So, in selling, they are reaping rewards in our current market!

On the other hand, we hear some sellers say...price high...they’ll make an offer…wrong!  They won’t even look at the home if it’s overpriced. No showings...no offers.

So, what is a seller to do? It is imperative that the day the house goes on the market, price it 5% to 10% below today’s market value.  It will stand out among the mass of other home listings.  Remember, the home is competing with the current inventory of homes already available for sale.  If in 30 days there are no showings or no offers, then it's time for a price reduction.

The biggest factor to consider in selling a home in Brevard County today is PRICE! 

The Florida Association of REALTORS is currently running a campaign focusing on the market positives of living in and moving to Florida.  It's A Great Time to Buy in Florida and here's the reasons why:

1. Florida is expected to increase in population by 75% by 2030.  It is one of the 10 fastest growing states in the US.

2. People keep moving to Florida, 900 a day.

3. Thirteen of Florida's cities are on the Milken Institute's 2007  50 "Best Performing Cities" survey. 

4. Florida unemployment rate is low, at around 4%.

5. There are plenty of jobs available in Florida.

6. Florida has great weather.

7. Grant Thrail, a professer of Economic Geography believes that the 2004-05 hurricanes were a fluke.

8. Gov. Charlie Christ continues to stay committed to finding solutions for higher insurance costs.

9. Interest rates are still low.

10. Homeownership provides value to a community,  as well as to an individual.

11. Home equity is still the #1 single source of household wealth.

12. Studies indicate that people who own their homes show higher levels of personal satisfaction.

13. Studies indicate that children raised in owned homes are move likely to graduate high school.

14. People who own homes become involved in the well being of their community.

15. Homeowners join up to 41% more civic organizations than renters.

16. REALTORS know that buying a home is an investment in a family's future.

17. In Florida the statewide median home price range has increased by 52.5%  from Nov 2002 to Nov 2007.

18. Florida has one the nation's strongest tourism industries.

19. Dr. Lawrence Yun, chief economist with NAR believes that 2008 will bring a stronger housing market  and we will be booming again by 2010.

20. People are attracted to Florida because of the great weather, beautiful beaches, friendliness  and no state income tax. 

To read the full article visit the Florida Association of REALTORS website. 

2/2/2 condo! Located in Desirable gated community! Amenities galore! One owner! 

Stunning end, corner unit with sparkling ceramic tile throughout!  One of the few units with a 2 car attached garage! Handicapped accessories!  Ceiling fans!  Sprawling eat in kitchen with breakfast bar and oodles of cabinets! Inside laundry room!  Ground floor unit! Alarm system-AS IS!  Come and live the high life, with tennis, community pool, sauna, racquetball, jogging, playground & clubhouse!  This complex has so much to offer! Hurry it won't last at this unbelievable price!

MLS #501501

$123,952 

2 bedroom, 2 bath, 2 car garage!

Ground floor unit! 

Contact list agent, Sandy Shores, M & M Real Estate, 321-253-4545 or 321-733-6080.

Brevard County  - Florida's Space Coast

www.sandyshoreshomes.com

sandyshoreshomes@hotmail.com

As s landlord, I am often asked the question...should I rent to tenants with a foreclosure or a bankruptcy?

And often times people are shocked at my response...

Every tenant should be looked at on an individual basis. What is the reason for the bankruptcy or the foreclosure? Did they get caught up in the sub prime mortgage mess and their taxes, insurance and interest rate adjusted up? I know many people that were comfortable and able to pay their mortgage payments until their payments went through the ceiling.

I am a landlord and have been since 1996. I have no problem with renting to tenants that have credit blemishes. The right ones make good long term tenants. What was their previous payment history on their last rental? How long have they been at their job? I know many good hard working people that go to work everyday, but they just don't earn enough money to cover all of their expenses, every month. Or some people just have poor spending habits. Often times they are unable to make their credit card payments. I am indifferent to that. The good ones understand they must pay their rent every month to keep a roof over their heads. Many of them make great long term tenants. I have had tenants with me for over 10 years that pay their rent every month, that came to me with credit problems and they still have credit blemishes.

I will not consider an applicant that has been evicted or has a repossession. Once evicted, often times it's habitual.

In the last 4 months, I have rented to 3 people that are going into foreclosure due to interest rate adjustments.

But be aware, renting your primary residence is different than placing a tenant in a house that you have never lived in and have specifically purchased to use as a rental. I have never gotten a house back from a tenant in better condition than I gave it to them in. And in 2001  when I bought another primary residence, I chose to put my previous house on the market, rather than turn it into a rental.

Do your homework and be very careful. If you pick the wrong tenant, you will be faced with filing an eviction.

Back to the same old question, Where is the market going?  Should I buy now or wait?  Ask 20 people…you’ll get 20 different answers. We know that millions of dollars have been lost in the economy in all sectors.  Interest rates change almost everyday.  These rate fluctuations can affect how much you can borrow and how much your monthly mortgage payments on a home will be.  Many economic and political factors affect rates, and sometimes the experts don’t know why rates perform as they do.  Sometimes rates can rise even when the Federal Reserve cuts short term bank rates.  The Fed cut the Fed funds rates by ¾ of a percentage point in March 2008. This cut the fed funds rate to 2.25% - the lowest since 2004.  This is the 6^th rate cut since September 2007.   Normally, banks in turn would immediately cut the rates at which they lend money to homebuyers and companies for personal and commercial use.  But, in the past few months banks have made 3 changes to their usual practice: 1) They have not been passing all of their interest rates savings to customers.  2) They have restricted lending only to the most creditworthy, documented applicants. 3) They have cut the total amount they’re willing to lend.  Banks are taking these seemingly ridiculous steps in an attempt to somehow reverse the effects of the massive losses withstood for lending to customers with lousy credit in the past 5 years. But, will mortgage rates and credit card rates still go down relative to the rate cut? No one knows for sure, we’ll have to wait and see.   So, back to the same old question everyone is still asking, Is it time to buy? Well, let's consider this...as the recession ends...and no one knows for sure when that may be, interest rates typically head back up again.  On a $200,000 loan an increase from 6% to 7% can cost $47,340 over the term of the loan, and an additional $131 per month.  Hmmm! That's food for thought!                                                           www.sandyshoreshomes.com

I recently read an online article that today,  there is a 500% more chance that a home will be seen on the internet versus print advertising.

Over 80% of home buyers are beginning their search on the internet. They are searching for 2 to 3 weeks before  contacting an agent.  88% are interested in a property they see online. And 78% of Real Estate agents are finding their buyers online. 

So, happy blogging!