Real Estate Information Archive

Blog

Displaying blog entries 1-2 of 2

New Year Resolutions! We get to "Start Over" again each Year!

by Pat Argo

 

After spending the Holidays with family and friends, this is a time of the year to start thinking about changes to make in our lives, both personal and in business.  I wanted to share one of mine with you.

My goal has always been to become your REALTOR® for life.  I'd like you to think of me first when you need to buy, sell or lease and that you’ll recommend me to your friends, family, co-workers, too.  That kind of trust has to be earned. I'm committed to continue helping you be a better homeowner even when you’re not buying or selling.

The strategy is simple.  A well-informed homeowner will make better decisions.  Periodically I'll offer information through articles and social media on a wide variety of home-related topics like maintenance tips, tax law changes, financing suggestions, insurance, equity building strategies, and rental property investments. Feel free to share it with others via email or ?.

Please contact me if you need a recommendation on a service provider.  My experience, along with that of my co-workers and friends, has built a list of reputable and reasonable contractors that you can rely upon.  When you have any kind of home-related questions, I hope you’ll have the confidence to call me or send me a text or email. Let me know when you discover really good service providers or a new place to eat yourself! I'll pass it on, too!

Happy New Year!  I sincerely look forward to helping you, your family, co-workers or your friends. And it doesn't always have to be about real estate! I am usually open for coffee or brunch/lunch just to get caught up on each others lives.

Mid-Year Market Report

by Pat Argo, CRS

Pat’s Mid-Year Residential Report for North Brevard

Everywhere I go, people are always asking me “Pat, How’s the real estate market doing around here now?”  I decided it’s time for a real report vs. my humble opinion, but of course I will share some of that with you as well!  These stats are gathered from the Brevard MLS system. areas 101-210.  Private & builder non-mls sales are.excluded.

 

In 2008: 1st 6 months: 411 closings with average of 125 Days on Market

High $899.000.         Low $32,000.         Average: $150,000    Median: $135,000.

In 2009: 1st 6 months: 533 closings with  average 119 Days on Market

High: $745,000.        Low:$10,500.         Average: $108,000    Median: $92,000.

 

So what everyone is saying IS partly right. It is taking longer to sell… the ones that closed and the final prices are even lower. To put this into perspective, I did the numbers by price range as well for the same 6 months.

Under $100K      $100K>     $150K>     200K>     300K>      $400K>     $500K>

2008:     109         142           80             56            14              3                 3

2009:     260         155           56             38              9              1                 1

 

Inventory today is 902 residences priced from $9,900. to $2.5million, average 193 DOM  

Actually we have 5 Million $+ Listings, all but 1 were on in 2008!

Important in the 2009 numbers is that there were less than 50 closed sales priced at $150,000. or more, about a 50% drop! And those closed under $100,000 were more than doubled!  (2.38 times).

 

Here’s what that could mean for you! 

If you are able to buy, especially if you qualify for the Tax Incentives, you really need to get serious about looking for the right home while the selection is good.

If you are considering selling vs leasing, weigh your options carefully. It may take longer than you are thinking for market recovery.

If you are an Investor, even a first timer, the choices could be outstanding. Figure out your financing options before you make the offer. Cash talks, particularly in condos and lender owned properties. And be prepared to be a bit more liberal with your new tenant prospects because their credit may be bruised.

If you really want or have to sell now, for whatever reason... remember that curb appeal is still important, but pricing right is absolutely King! Be sure to use "internet price points" to your advantage when you enter the market. Be prepared to help the first time buyers with closing costs since they are prime buyers now.

If you or a family member/friend is a Snowbird, empty nester, or retiring soon, now could be an excellent time to find the next nest before the best ones get picked over. You can even use a reverse mortgage to BUY!

Regardless of all of the above, there is an important fact I learned back in 1973 when I first started in real estate. “UNDER ALL IS THE LAND.”  Buying, selling or leasing, the one thing you cannot change is a property’s location. That’s in Gods hands. You are better off with a smaller place in a nicer area than the best place in a less desirable one. The only thing that “fixes” a poor location is dropped price and owner terms!

 

If there is anything I’ve said that you would like to discuss, please fel free to contact me. I am always pleased to be able to share my knowledge and experiences as well to help you understand the market or explore your next move.  

 Pat Argo, CRS, SRES  321-537-4721

Displaying blog entries 1-2 of 2

Contact Information

Photo of Pat Argo, Broker Assoc, CRS, GRI, RECS, SFR, S Real Estate
Pat Argo, Broker Assoc, CRS, GRI, RECS, SFR, S
Keller Williams Realty of Brevard
6905 N Wickham Road #405
Melbourne FL 32940
Cell/Text: 321-537-4721
Office: 321-259-1170
Fax: 321-435-3124