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Slow and Steady Could Get you There a Day Late

By Sandy Shores FL Realtor®, Melbourne Real Estate

Real Estate Broker/Owner with M & M Realty of Brevard Inc. BK629999

January 19, 2012 02:28 AM

Today, approximately 85% of buyers begin their home search on the internet. And, studies indicate that they look for several weeks before contacting an agent to help in their search. There is more information at a buyer's fingertips than ever before. And, today's buyer is sharp. They do their homework and they know where to find the information they need.

But wait, not so fast.

Is it as simple as that?

Well, not always.

Real estate is local in nature. And, a Realtor's job is to educate the buyer to the local market conditions and to provide them with as much information as possible. We want to assist a buyer in helping them find the house that suits their wants, as well as their needs.

The scope of the market has changed immensely over the past several years, due it's cyclical nature. And, it will continue to do so. Today, in Brevard County we are seeing a large number of short sale properties. Our foreclosure inventory has been dwindling due to the robosigning debacle. (Although we are hearing that 2012 will be the year of more foreclosures hitting our market.) And, as surprising as it is to some, we are seeing multiple offers situations on houses under $250,000. The "good ones" are going first and quickly. That may be the most important information we are trying to get out to our buyers.

International buyers, second home buyers from various Northern states, and investors are all scooping up deals on Brevard County real estate. We have heard that 20% to 40% of the buyers in the market today are investors, with 60% of them being new investors.

We've been in situations where we've had buyers that found a house that suited their wants, their needs, and their budgets. The buyers were tickled. However, some buyers want to take time to think about it, and understandably so. This is the biggest purchase of their lives. However, a week or two later, when they are ready to move forward, the house they wanted was under contract with another buyer.

It's a difficult situation for the discouraged buyer that did not get the property, as they have to go back out and start all over in search of another house. Then, it's only natural for them to compare the other houses they see to the one that got away. And, it seems that the ones that catch their eye are other properties that are already under contract. It's like a case of, "I want what she's got."

So, when out looking for a house in Brevard County FL, remember we are back to multiple offer situations. The good ones are moving off the market, quickly. Be sure you've got your preapproval letter in hand when you head out. And once we've done our homework, be sure you're ready to go.