A lot of strange things are going on in the Brevard Real Estate market. We are all saddened by the end of the Space Shuttle program and our long running space exploration program has seemed to come to a halt. This seems to be the focus of many buyers who believe there will be a lot more distressed homes on the market in our area due to the shut down. And I "hear" them saying they are kind of in a holding pattern waiting for some "low hanging fruit"
I must say on the outside this sounds like a good position to take. Although when you take a look at some very important numbers you may change your mind...
First, we all know that interest rates are a historical lows. There is some Brevard County bond money available for FTHB (First Time Home Buyers) that will help them get in a home with little or know money out of pocket. And since the first of 2011 our inventory of homes has dropped by over 2000 homes to almost normal levels. We are even seeing bid wars on many listings for sale here in Brevard County.
That being said, this market is changing and sitting on the fence may NOT be such a good idea when we look at the numbers. If inventories continue to decline and interest rates increase, many buyers will find themselves "out in the cold" when it comes time to making a GREAT buy on a Brevard home with a low interest rate loan.
So, if you are remotely considering purchasing a home here in Brevard, I highly recommend you start making your move now, and not get left in the proverbial dust. You can start your home search here if you like.
On the opposite side of the fence we have home sellers who may have been waiting for a chance to jump in the Brevard Real Estate market and now seems to be a good time to do so, while inventories are low along with the interest rates.
Of course, only time will tell what will happen in our real estate market here in Brevard County. Personlly, I see things trying to make a turn for the better. Let me know your thoughts!
Till next time...
Larry Fleckinger - HouseMax Pro Realty - 321-252-9767 - BrevardHomeSearch.com