We usually identify the market as a "Buyers" Market or a "Sellers" Market, but is it possible to have Both? Yes, and in some areas we are witnessing just that!
In Brevard County, Florida, housing was hit very hard, getting clipped over 60% from the peak of 2005. the low inventory levels have hit levels we have not witnessed in several years. This type of reduction has reduced the time a home spends on the market (If the home is priced according to demand). In some areas throughout Brevard the inventory is so low, buyers are finding fewer homes to chose from, so they are having to expand their search.
Lack of Bank Owned & Short Sale Inventory: currently there is only 1 Bank Owned home for sale in Viera West of I-95
The amount of time a home stays on the market has been shortened compared to last year. Now Takes Just under 2 months, compared to 3 1/2 Months 1 year ago. Supply is at or under 6 months, Some might consider this a Housing Shortage!
Builders are taking advantage of these lower inventory levels by building quick move-in ready homes.
From West Melbourne to Viera, several builders are offering incentives to buyers looking to buy a new home without the long wait! Builders such as Lennar, D.R. Horton are two of the Largest production builders, Not too far behind is Holiday Builders and Viera Builders, who not only offer a line of affordable homes, but also offer a product for "Move-Up" Buyers looking for luxury options.
Communities in Viera such as Gatwick Manor, Daintree and Eason Landing offer Homes from the $200's.
Just across the way, Home Builders Life Style Homes, Amek & Stanley are building Custom Homes from the $300's in Levanto
So Why is this a GREAT TIME TO SELL? well at least in Parts of Brevard County particularly Viera, makes it a Great time! Why?
Rates hovering near 4%
Low inventory levels
Pent Up Demand of Buyers for a particular style Home in an Up and Coming/Growing Area
As a Seller, you might look back and say-Steve my home used to be worth much more back in 2006, so why is it a Great time to Sell?
What happened 4 -5 years ago, isnt today! I would say, it's much easier to sell your home with ready willing and able buyers! If you are looking to re-locate, remember SELL LOWER- MEANS YOU BUY LOWER TOO!
The Signs are indicating we have bottomed early 2010, prices have stablized, some might say this is the perfect time to SELL & BUY!
If you are in the market to BUY or SELL: Now is the Time to Contact and interview at least 2-3 Real Estate Professionals to review a plan for you!