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FIND YOUR NEXT HOME by...

CITY

Select a City: No Preference Barefoot Bay Cape Canaveral Cocoa Cocoa Bch Cocoa Beach Grant Grant Valkaria Indialantic Indian Harb Bch Indian Harbour Beach Malabar Melbourne Melbourne Bch Melbourne Beach Melbourne Village Merritt Isl Merritt Island Micco Mims Palm Bay Palm Shores Rockledge Satellite Bch Satellite Beach Sebastian Titusville Viera W Melbourne W. Melbourne West Melbourne Choose a property type: Residential Rental Income Business Land

What is your price range? No Minimum $25,000 $50,000 $75,000 $100,000 $125,000 $150,000 $175,000 $200,000 $225,000 $250,000 $275,000 $300,000 $325,000 $350,000 $375,000 $400,000 $425,000 $450,000 $475,000 $500,000 $600,000 $700,000 $800,000 $900,000 $1,000,000 $1,250,000 $1,500,000 $1,750,000 $2,000,000 $2,250,000 $2,500,000 $2,750,000 $3,000,000 $3,250,000 $3,500,000 $3,750,000 $4,000,000 $4,500,000 $5,000,000 $5,500,000 $6,000,000 $6,500,000 $7,000,000 $7,500,000 $8,000,000 $8,500,000 $9,000,000 $9,500,000 $10,000,000 No Maximum $25,000 $50,000 $75,000 $100,000 $125,000 $150,000 $175,000 $200,000 $225,000 $250,000 $275,000 $300,000 $325,000 $350,000 $375,000 $400,000 $425,000 $450,000 $475,000 $500,000 $600,000 $700,000 $800,000 $900,000 $1,000,000 $1,250,000 $1,500,000 $1,750,000 $2,000,000 $2,250,000 $2,500,000 $2,750,000 $3,000,000 $3,250,000 $3,500,000 $3,750,000 $4,000,000 $4,500,000 $5,000,000 $5,500,000 $6,000,000 $6,500,000 $7,000,000 $7,500,000 $8,000,000 $8,500,000 $9,000,000 $9,500,000 $10,000,000

Number of rooms required? Beds 1 2 3 4 5 6 7 8+ Baths 1 2 3 4 5 6 7 8+

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SUBDIVISION

Enter a Subdivision:

Choose a property type: Residential Rental Income Business Land

What is your price range? No Minimum $25,000 $50,000 $75,000 $100,000 $125,000 $150,000 $175,000 $200,000 $225,000 $250,000 $275,000 $300,000 $325,000 $350,000 $375,000 $400,000 $425,000 $450,000 $475,000 $500,000 $600,000 $700,000 $800,000 $900,000 $1,000,000 $1,250,000 $1,500,000 $1,750,000 $2,000,000 $2,250,000 $2,500,000 $2,750,000 $3,000,000 $3,250,000 $3,500,000 $3,750,000 $4,000,000 $4,500,000 $5,000,000 $5,500,000 $6,000,000 $6,500,000 $7,000,000 $7,500,000 $8,000,000 $8,500,000 $9,000,000 $9,500,000 $10,000,000 No Maximum $25,000 $50,000 $75,000 $100,000 $125,000 $150,000 $175,000 $200,000 $225,000 $250,000 $275,000 $300,000 $325,000 $350,000 $375,000 $400,000 $425,000 $450,000 $475,000 $500,000 $600,000 $700,000 $800,000 $900,000 $1,000,000 $1,250,000 $1,500,000 $1,750,000 $2,000,000 $2,250,000 $2,500,000 $2,750,000 $3,000,000 $3,250,000 $3,500,000 $3,750,000 $4,000,000 $4,500,000 $5,000,000 $5,500,000 $6,000,000 $6,500,000 $7,000,000 $7,500,000 $8,000,000 $8,500,000 $9,000,000 $9,500,000 $10,000,000

Number of rooms required? Beds 1 2 3 4 5 6 7 8+ Baths 1 2 3 4 5 6 7 8+

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AREA

Select a Area: No Preference 101 Mims/Scottsmoor 102 Mims/Tville SR46-Garden 103 Titusville Garden- SR50 104 Titusville SR50 - Kings H 107 Port St. John 210 Canaveral Groves 212 Cocoa 213 Mainld E of US1 214 Rockledge 215 West Cocoa 216 Viera/Suntree N of Wickham 217 Viera West of I 95 218 Suntree S of Wickham 250 N Merritt Island 251 Central Merritt Island 252 N Banana River Dr. 253 S Merritt Island 254 Newfound Harbor 270 Port Canaveral 271 Cape Canaveral 272 Cocoa Beach 320 Pineda/Lake Washington 321 Lake Washington/S of Post 322 Palm Shores 323 Eau Gallie 330 Melbourne 331 W Melbourne 340 NE Palm Bay 341 NE Palm Bay 342 Malabar/Grant-Valkaria 343 SE Palm Bay 344 NW Palm Bay 345 SW Palm Bay 346 West/Southwest Palm Bay 347 Southern Palm Bay 350 Barefoot Bay/Micco 355 Merritt Island S of Pineda 381 N Satellite Beach 382 Satellite Bch/ Indian Hrbr 383 N Indialantic 384 Indialantic/Melbourne Bch 385 South Beaches

Choose a property type: Residential Rental Income Business Land

What is your price range? No Minimum $25,000 $50,000 $75,000 $100,000 $125,000 $150,000 $175,000 $200,000 $225,000 $250,000 $275,000 $300,000 $325,000 $350,000 $375,000 $400,000 $425,000 $450,000 $475,000 $500,000 $600,000 $700,000 $800,000 $900,000 $1,000,000 $1,250,000 $1,500,000 $1,750,000 $2,000,000 $2,250,000 $2,500,000 $2,750,000 $3,000,000 $3,250,000 $3,500,000 $3,750,000 $4,000,000 $4,500,000 $5,000,000 $5,500,000 $6,000,000 $6,500,000 $7,000,000 $7,500,000 $8,000,000 $8,500,000 $9,000,000 $9,500,000 $10,000,000 No Maximum $25,000 $50,000 $75,000 $100,000 $125,000 $150,000 $175,000 $200,000 $225,000 $250,000 $275,000 $300,000 $325,000 $350,000 $375,000 $400,000 $425,000 $450,000 $475,000 $500,000 $600,000 $700,000 $800,000 $900,000 $1,000,000 $1,250,000 $1,500,000 $1,750,000 $2,000,000 $2,250,000 $2,500,000 $2,750,000 $3,000,000 $3,250,000 $3,500,000 $3,750,000 $4,000,000 $4,500,000 $5,000,000 $5,500,000 $6,000,000 $6,500,000 $7,000,000 $7,500,000 $8,000,000 $8,500,000 $9,000,000 $9,500,000 $10,000,000

Number of rooms required? Beds 1 2 3 4 5 6 7 8+ Baths 1 2 3 4 5 6 7 8+

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ZIP

Enter Zip Code Choose a property type: Residential Rental Income Business Land

What is your price range? No Minimum $25,000 $50,000 $75,000 $100,000 $125,000 $150,000 $175,000 $200,000 $225,000 $250,000 $275,000 $300,000 $325,000 $350,000 $375,000 $400,000 $425,000 $450,000 $475,000 $500,000 $600,000 $700,000 $800,000 $900,000 $1,000,000 $1,250,000 $1,500,000 $1,750,000 $2,000,000 $2,250,000 $2,500,000 $2,750,000 $3,000,000 $3,250,000 $3,500,000 $3,750,000 $4,000,000 $4,500,000 $5,000,000 $5,500,000 $6,000,000 $6,500,000 $7,000,000 $7,500,000 $8,000,000 $8,500,000 $9,000,000 $9,500,000 $10,000,000 No Maximum $25,000 $50,000 $75,000 $100,000 $125,000 $150,000 $175,000 $200,000 $225,000 $250,000 $275,000 $300,000 $325,000 $350,000 $375,000 $400,000 $425,000 $450,000 $475,000 $500,000 $600,000 $700,000 $800,000 $900,000 $1,000,000 $1,250,000 $1,500,000 $1,750,000 $2,000,000 $2,250,000 $2,500,000 $2,750,000 $3,000,000 $3,250,000 $3,500,000 $3,750,000 $4,000,000 $4,500,000 $5,000,000 $5,500,000 $6,000,000 $6,500,000 $7,000,000 $7,500,000 $8,000,000 $8,500,000 $9,000,000 $9,500,000 $10,000,000

Number of rooms required? Beds 1 2 3 4 5 6 7 8+ Baths 1 2 3 4 5 6 7 8+

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MLS #

Enter MLS Number: MLS Number: MLS Number: MLS Number:

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MAP

Select a Starting Point: No Preference Altamonte Springs Barefoot Bay Brevard Burnsville Cape Canaveral Christmas Cocoa Cocoa Beach Coral Springs Davenport Daytona Beach Daytona Beach Shores Eau Gallie Edgewater Fellsmere Fort Pierce Ft. Lauderdale Grant Grant Valkaria Harmony Holly Hill Indialantic Indian Harbour Beach Kissimmee Lake Helen Lake Mary Malabar Melbourne Melbourne Beach Melbourne Village Merritt Isl Merritt Island Micco Mims New Smyrna Beach Oak Hill Orange Park Orlando Palm Bay Palm City Palm Shores Port Orange Port St. John Port St. Lucie Rockledge Rocklege Saint Cloud Sanford Satellite Beach Scottsmoor Sebastian St Cloud Suntree Tampa Tarpon Springs Tavares The Villages Titusville Vero Beach Viera W Melbourne West Melbourne Winter Park Choose a property type: Residential Rental Income Business Land

What is your price range? No Minimum $25,000 $50,000 $75,000 $100,000 $125,000 $150,000 $175,000 $200,000 $225,000 $250,000 $275,000 $300,000 $325,000 $350,000 $375,000 $400,000 $425,000 $450,000 $475,000 $500,000 $600,000 $700,000 $800,000 $900,000 $1,000,000 $1,250,000 $1,500,000 $1,750,000 $2,000,000 $2,250,000 $2,500,000 $2,750,000 $3,000,000 $3,250,000 $3,500,000 $3,750,000 $4,000,000 $4,500,000 $5,000,000 $5,500,000 $6,000,000 $6,500,000 $7,000,000 $7,500,000 $8,000,000 $8,500,000 $9,000,000 $9,500,000 $10,000,000 No Maximum $25,000 $50,000 $75,000 $100,000 $125,000 $150,000 $175,000 $200,000 $225,000 $250,000 $275,000 $300,000 $325,000 $350,000 $375,000 $400,000 $425,000 $450,000 $475,000 $500,000 $600,000 $700,000 $800,000 $900,000 $1,000,000 $1,250,000 $1,500,000 $1,750,000 $2,000,000 $2,250,000 $2,500,000 $2,750,000 $3,000,000 $3,250,000 $3,500,000 $3,750,000 $4,000,000 $4,500,000 $5,000,000 $5,500,000 $6,000,000 $6,500,000 $7,000,000 $7,500,000 $8,000,000 $8,500,000 $9,000,000 $9,500,000 $10,000,000

Number of rooms required? Beds 1 2 3 4 5 6 7 8+ Baths 1 2 3 4 5 6 7 8+

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Is now the time for Buyers?

March, 2009: It's still not general knowledge, but Brevard's real estate market is finally warming up... and more people are noticing the current positive trends in this market! As I write this, we are experiencing significant increases in buyer interest, more showings, more offers and more closings.  This "turnaround" in buyer sentiment has been a long time coming, here in Central Florida our market peaked in the summer of 2005.  At that time, our Brevard County median home price was just over $240,000, and we had over 900 residential closings per month through the Brevard MLS. In the following 3 1/2 years, home prices and buyer sentiment have turned around 180 degrees: from "everything is going up forever" to "everything is going down, hope it's not forever".

I've put together a little chart showing our pricing trendline from 1/2004 to early 2009.  It is dramatic, with a peak median price of over $240k sliding steadily downward to just above $115k in about 3 1/2 years!

We feel that this trend of falling prices will most likely end in the next few months.  The main reason prices will stop falling is increased buyer interest, and pent-up demand for profitable investments.  Right now, there are already two types of greenlight (safe) investments in Brevard real estate.  

1. Smart investors are flipping modest 3 bedroom foreclosures in some of our older, but still desirable neighborhoods.  These smaller homes were snapped up during the boom for $150k to $180k, often by speculators or homeowners who really could not afford them, but felt that they had "to buy something" or "get into the market".  These properties are now in foreclosure and can be bought for $40k to $60k throughout the Eau Gallie and Melbourne areas.  With some minor updates, landscaping, paint and flooring... profits of $15,000 to $20,000 can be had if you are willing and able to do the work.
2.  The second type of "greenlight" investment right now is rental/income properties between Palm Bay and Eau Gallie.  There are opportunities to buy decent homes in these areas for $50,000 or less, that can be rented for up to $200/month more than the monthly mortgage payment would be.  That's positive cash flow from Day 1, plus a very attractive upside for potential price appreciation down the road. 

As more people become aware of the very attractive pricing on Brevard County real esate now we are seeing more first time buyers, investors and a lot of renewed interest in relocation.  This is evidenced by our increasing levels of sales as reported in the Brevard MLS. As you can see in the chart below, demand (closings) peaked in the summers of 2004 and 2005.  Summers are always busiest here.  You can also see that the summer peaks occurred at lower and lower levels of activity and demand... through 2006, 2007 and 2008... even though prices were dropping as you can see above in the (blue) pricing chart.  

But now, we're finally starting to see enough demand to stop the price slide... in my opinion.  Once we get about 3 months of positive news on market activity, more buyers will get off the fence.  This will turn the tide of price drops, and the market will stabilize price-wise.  Once the price dropping ends and we get about 3 months of positive pricing news out we will have a stable and healthy real estate environment.  This process is in motion now, and conditions will improve throughout the summer.

This may be of interest for analytical types.  This is just a picture of the pricing graph overlayed on the demand graph.  I put them together just to see what it looked like and after a few minutes realized that the lines crossed at two points.  First they crossed where price peaked, and buyers began to walk away and they have just crossed again, as low prices and profit opportunities are bringing increasing numbers of buyers off the sideleines.

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