Posts Tagged ‘brevard mls’

Florida’s Foreclosure Crisis Over…

DECEMBER 13, 2013 by ge.admin

Brevard Foreclosures

Dec. 12, 2013 – RealtyTrac’s Foreclosure Market Report for November shows foreclosure filings – all default notices, scheduled auctions and bank repossessions – decreased 15 percent from the previous month and 37 percent year-to-year across the country.

FLORIDA RECOVERS

In Florida, the percentage drop in owners receiving a first-time foreclosure notice was also dramatic. The state had 6,744 foreclosure starts in November, an 18.02 percent decline month-to-month and a 45.9 percent drop year-to-year.

The number of Florida foreclosure completions – the final step where a lender takes back the home – also dropped in November, though not as dramatically. Completed state foreclosures were down 2.72 percent month-to-month and 15.59 percent year-to-year.

Florida foreclosure activity in November – starts, in progress and completions – decreased 15 percent from the previous month and 23 percent from a year ago for the fourth consecutive month with an annual decrease. However, the state still has the nation’s highest state foreclosure rate: one in every 392 housing units with a foreclosure filing.

Among metro areas with a population of 200,000 or more, those with the highest foreclosure rates were the Florida cities of Jacksonville, Miami, Port St. Lucie and Palm Bay, along with Rockford, Ill.

“While some of the decrease in November can be attributed to seasonality, the depth and breadth of the decrease provides strong evidence that we are entering the ninth inning of this foreclosure crisis with the outcome all but guaranteed,” says Daren Blomquist, vice president at RealtyTrac.

ACROSS THE NATION – Biggest drop in 3 years

The 15 percent monthly decrease in November was the biggest month-over-month decrease since November 2010 when U.S. foreclosure activity plummeted 21 percent in one month following the revelation of the so-called robo-signing scandal in October 2010.

 While the drop reflects all homes somewhere within the foreclosure process, a decline in the number of homes receiving their first foreclosure notice reflects a stronger improvement. A total of 52,826 U.S. properties started the foreclosure process for the first time in November, down 10 percent from the previous month and 32 percent from a year ago, hitting its lowest level since December 2005.

“While foreclosures will likely continue to stage a weak rally in certain markets next year … it is highly unlikely that there will be a foreclosure comeback that poses any major threat to the solid housing recovery that has now taken hold,” concludes Blomquist.
 

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Why Some Homes Don’t Sell – 4 Avoidable Reasons

MAY 21, 2013 by ge.admin

Brevard County Real Estate

As the housing market continues to improve, and as demand begins to overtake supply, many homeowners are looking to sell their homes for a great profit.  Still, a number of sellers find that they are having trouble finding the right buyer for their property. 

Brevard County real estate specialists have noticed certain patterns amongst properties that seem more difficult to sell and have compiled a list of the most common issues homeowners come across when selling their Brevard County Real Estate. 

The following are four of the top reasons a home remains unsold and what savvy sellers can do to avoid them.

1.  THE PRICE IS WRONG, BOB

The first and foremost issue many analysts have noticed is that some homeowners tend to price their properties too high.  According to an article on usnews.com, “Sellers have emotional attachments to their homes,” and thus they may find it difficult to establish a proper home value.  Appraising the property and taking an objective stance to the pricing is a great way to ensure the property is not overpriced.

2.  A BAD IMPRESSION

Curb appeal really is a big deal when it comes to real estate.  Your home and property may be in great shape, but even the smallest sign of water damage, for example, can turn off a potential buyer.  Thoroughly inspect your home from top to bottom and make sure that everything is clean, neat, and as it should be.  “Fresh landscaping or a fresh coat of paint in certain areas” can do wonders for your property’s appearance and appeal.

What’s on the inside is just as important as what’s on the outside.  Nothing says stay out as well as blocked doorways or strong pet odors.  Few buyers will see past dirt, odors, or clutter to realize there’s a jem to be had.  A home should look and smell as good as it can from the minute it hits Brevard MLS.  A sellers who procrastenates staging their home risks having their property thought of as a problem property.

3.  MARKETING CAMPAIGN LACKS DEPTH

Your agent should be doing more than just listing your home on Brevard MLS and putting a sign in the yard.  90% of home-buyers search the Internet for their homes. The most important vehicle for advertising your home is Internet exposure.  Not submitting photos — or uploading only one unflattering photo of the front of the house can deter potential buyers.

4.  RESTRICITED ACCESS

Finally, homeowners should be flexible with their scheduling for showings and open houses.  Showing your home frequently is the best way to generate traffic and interest in your property.  No lockbox, restricited hours, 24 hour notice, or by appointment only can hamper showings.  Work out a schedule with your real estate agent that maximizes your exposure, and discuss your listing on Brevard MLS with your agent.

Sources:  http://www.realtor.org/news-releases/2013/01/joint-nar/google-study-shows-more-people-use-internet-to-research-homes-for-sale

http://www.gregellingson.com/sellers-information/pricing-your-home-to-sell

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Interest Rates Rise

MAY 20, 2013 by ge.admin

Mortgage Trend
30 Year Up 0.07% & 15 Year Up 0.05%

WASHINGTON (AP) – May 10, 2013 – Average U.S. mortgage rates rose this week but remained near historic lows. Cheaper mortgages have encouraged more homebuying and refinancing.

Mortgage buyer Freddie Mac said Thursday that the average rate for the 30-year fixed mortgage edged up to 3.42 percent from 3.35 percent last week. That’s still near the average of 3.31 percent reached in November, the lowest on records dating to 1971.

The average on the 15-year fixed-rate loan rose to 2.61 percent from 2.56 percent last week, which was the lowest on records going back to 1991.

Low mortgage rates have buttressed the housing recovery that began last year. Home sales and construction are up from a year ago, and prices are rising in most U.S. markets.

A survey released Tuesday showed that U.S. home prices rose 10.5 percent in March compared with a year earlier, the biggest year-over-year gain since March 2006.

The survey from Core Logic, a real estate data provider, showed that year-over-year prices have risen for 13 straight months. Prices are rising in part because more buyers are bidding on a limited supply of homes for sale.

Prices rose in 46 states over the past year. Eleven states posted double-digit gains.

And excluding distressed sales, which comprise foreclosures and short sales, prices rose in every state. A short sale is when a home sells for less than what’s owed on the mortgage.

Sales are rising in some markets hit hardest by the housing bust in part because investors are scooping up homes in hopes of turning a profit.

To calculate average mortgage rates, Freddie Mac surveys lenders across the country on Monday through Wednesday each week. The average doesn’t include extra fees, known as points, which most borrowers must pay to get the lowest rates. One point equals 1 percent of the loan amount.

The average fee for 30-year mortgages was 0.7 point, unchanged from last week. The fee for 15-year loans also held steady at 0.7 point.

The average rate on a one-year adjustable-rate mortgage fell to 2.53 percent from 2.56 percent last week. The fee for one-year adjustable-rate loans rose to 0.4 point from 0.3 point.

The average rate on a five-year adjustable-rate mortgage increased to 2.58 percent from 2.56 percent. The fee was unchanged at 0.5 point.
AP Logo Copyright © 2013 The Associated Press, Marcy Gordon, AP business writer.

Brevard County Real Estate Foreclosures Remain High

APRIL 29, 2013 by ge.admin

Brevard Real Estate Foreclosure

FLORIDA FORECLOSURE HIGHEST IN NATION

In the first quarter of 2013, nationwide foreclosure rates continue to drop.  Florida however, announced a 7% increase from the previous quarter and was up 17 percent from the first quarter of 2012.  Florida has the highest foreclosure rate at three times the national average.  Among U.S. cities and regions, seven of ten areas with the highest foreclosure rates were in Florida, with Brevard County at the number eight position according to RealtyTrac.

Q1’13 NATIONAL TOP TEN METRO FORECLOSURE RATES

  1. Miami, FL – 1 out of 79 housing units
  2. Orlando, FL – 1 out of 86 housing units
  3. Ocala, FL – 1 out of 92 housing units
  4. Las Vegas, NV  – 1 out of 99 housing units
  5. Tampa, FL – 1 out of 100 housing units
  6. Rockford, IL – 1 out of 102 housing units
  7. Jacksonville, FL – 1 out of 105 housing units
  8. Palm Bay-Melbourne-Titusville, FL – 1 out of 109 housing units
  9. Chicago, IL – 1 out of 116 housing units
  10. Lakeland, FL – 1 out of 128 housing units

This trend has been holding strong for the past three months. Statewide layoffs have certainly taken a toll on the market, though it has begun to turn around for the better. So what does this mean for those interested in Florida real estate?  Many investment properties are on the market, giving investors and snowbirds a great opportunity to expand their horizons. These numbers are also promising for those looking to move to Brevard County.

Shoppers who are willing to look at foreclosed homes understand that they have the potential to purchase property at deep discounts. With such great tools as Ellingson Properties’ Brevard MLS foreclosure tool, finding foreclosed properties is easier than ever. As foreclosure rates stay high in Brevard County, now is a great time to buy.

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Canadian Snowbirds Hot on Florida Real Estate Investing

APRIL 26, 2013 by ge.admin

Brevard MLS Invest

A recent report published by the Bank of Montreal has demonstrated that Canadian Snowbirds now make up the majority of Florida’s property buyers. Recent studies have shown that the median price of a single-family home in Florida is almost half that of a single-family home in Canada. In 2010, thirty-six percent of all real estate transactions in Florida involved Canadian investors, who also provide the top source of tourism income in the state. According to the same report, over half a million Canadians now own Florida property.

As prices continue to plunge and the strength of foreign currency increases, now is a great time for investors and snowbirds to look at Brevard County properties for sale. Investment properties are a steal at this point in the market, enabling investors to make quick and easy profit.  But the market will not stay in this state forever. A recent BMO study has shown that the market has hit its bottom and the real estate market is beginning to make
a turn for the better. In future years, prices will increase once more. Anyone interested in real estate investment should peruse Brevard MLS for Space Coast investment property opportunities.

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More Snowbirds Calling Florida Home

APRIL 5, 2013 by ge.admin

Florida Snowbird Map

 Within the last decade, a great number of snowbirds—Northerners who vacation to the tropical climes of Florida during the winter—have decided to call Florida home.  With the recently overwhelming snowstorms in the northern states and bizarre cold snaps across the nation, it is no wonder that many vacationers have decided to stay permanently.  Florida’s pristine beaches, mild climates, and diverse wildlife are only a few of the things this great state has to offer—and what’s more, it very rarely, if ever, snows.  To read more, click here: http://realtormag.realtor.org/daily-news/2013/01/11/snowbirds-race-snatch-up-housing-bargains-in-florida

Setting Up Shop

In addition to calling Florida home, many new southerners have found that Florida is a great location to start up a business.  A number of people have opened satellite locations of their businesses in Florida, and some even center their operations here.  With the tourism industry holding steady and innumerable travelers escaping the frigid north, numerous snowbirds have found that their Florida operations are among their most profitable endeavors.

Finding the Perfect Home

Picking up and moving across the country can be a daunting task for those snowbirds considering a permanent stay in Florida and Brevard County.  However, many great tools are at the public’s disposal.  Brevard County real estate agents and brokers use the Brevard MLS, allowing them to disseminate concrete, pertinent information on the available homes in the area and to share this information with their clients.  Now is one of the best times to buy a home in Brevard County, and finding the perfect home is easier than ever thanks to this great tool.

Many business owners from the north have found that their Florida enterprises are booming.  Florida offers pleasant weather year round, among many other amenities.  Now is one of the best times to buy a home.  The choice is clear—come to Florida today!

Source: http://www.floridarealtors.org/NewsAndEvents/article.cfm?id=289245

What is the Brevard MLS?

MARCH 13, 2013 by ge.admin

Brevard MLS Realtor

The Brevard Multiple Listing Service (MLS) was established by Melbourne Area Association of Realtors® (MAAR) and Space Coast Association of Realtors® (SCAR) a decade ago. It was created to facilitate cooperation between area real estate broker participants and to enable the dissemination of listing information.

WHY HAVE IT

Prior to its existence, buyers were only shown homes a realtor personally knew were for sale. Realtors specialized in specific neighborhoods of the Space Coast as knowing the status of all properties was impossible. Neither buyers, sellers, nor realtors were best served by this system.

MLS contains hundreds of fields of information about the features of a property. These fields are determined by area professionals who are knowledgeable and experienced in Brevard County. Only subscribing members of MAAR & SCAR can populate the fields when entering a property. A person selling his/her own property (For Sale by Owner or FSBO) cannot put a listing for their home directly into an MLS. An MLS subscriber may search the MLS database and retrieve information about all homes for sale by all participating brokers.

The Brevard MLS database does allow the public to search for properties and view a limited number of fields. Public access is availabe athttp://www.brevardmls.com/brv/pubmain.php .

NEW TO BREVARD

If you are unfamiliar with Brevard County, using the brevardmls.comwebsite search tool has limitations. For example, a search for all Viera homes in 55+ communities would be difficult. Understanding the limitations, some local real estate companies have incorporated information on area communities and subdivisions with the Brevard MLS. This allows a searcher to easily become acquainted with all 55+ subdivisions in Viera as well as the homes currently available within each.

So, if you are investigating buying a home in Brevard County but unfamiliar with the area, consider using a realtor’s website to conduct your Brevard home search.