As part of my continuing Blog series to follow the Viera Fl Housing Market conditions, I have identified an area that needed some attention-The Shrinking Rental Inventory!
Since the second half of this year the rentals have been moving at a very fast pace, Single Family was the first to take off, then Town-Homes, then Condos, Reason? In short, Foreclosures & Short Sales!
The first comparison I ran was first half of 2010 Jan-June vs 2nd half of 2010 July-Dec. the Total Units lease
I calculating ALL Single Family Homes, Town-Homes & Condos from 2nd half of 2009 from July - Dec - The total units leased were 228 with an avg monthly rent of $1,100 per month. In same comparison for 2nd half of thru 12/14/2010 total units Leased 226...and still counting, however the monthly Rent jumped up to $1,200, that over a 9% increase from 2009.
In Viera, the market inventory was not too heavy to begin with but when the homes in the surrounding areas that were being either short sold or foreclosed, the occupants have to find another place to call home! Many Brevardians have re-located to Viera from other parts of Brevard County, Fl. Viera offers a new opportunity, new infrastructure, new growth, and for many from out of town, a new start that is less congested yet, convenient & yet, still trendy.
If you or someone you know needs a place to live, maybe they are re-locating to Viera, or maybe the home they are living in is being Short Sold or Foreclosed, contact Steve Vitani.
If you are debating on whether to list your home for Sale or for Lease, it never hurts to have a second opinion before listing your home.
I provide a very detailed comprehensive strategy that could make the difference in how much money you net when selling or leasing.
I am almost ALWAYS Available, If not, I will make sure someone else is available to help!
Thank You for viewing my Blog: Feel free to also visit www.SteveSellsFlorida.com for your current Real Estate needs and Free MLS search.
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