Now is a good time to buy in Brevard (Miami: sales, real estate)

[Nypafl4u]

Anyone looking to purchase a house, condo or town home, right now is a great time to buy in Brevard County. The middle of the summer is this areas slowest season and many properties have gone down, especially those that were put on the market towards the end of the "Snowbird" season in March or April. It seems every year for the last several at least, July and August were bargain months to buy. Some may need more work and others were priced a bit too high and now realize they need to drop down. It's also late for many families that want to move and start school on time. Add in fewer people visiting in the area with the hot summer and you have the perfect storm for low prices. All these reasons create bargains for those that have the patience to look.

[deboinair]

Very true, but the job market is deplorable there. I'm trying to sell my condo in Miami and was looking to move back to Palm Bay/Melbourne area.

[chopchop0]

Originally Posted by deboinair

Very true, but the job market is deplorable there. I'm trying to sell my condo in Miami and was looking to move back to Palm Bay/Melbourne area.

It's coming back
Future of Space Coast big businesses...

[Nypafl4u]

Not only are things slowly picking up, inventory during the busy winter months is very low. This drives prices up while all the Snowbirds are down here. When they leave, prices move down two months later, after all the rush is over. I think for anyone considering the move, job in hand, should really look now. I am heading down next week to help a friend to just that. Cocoa Beach has really shown an upswing in the last two years. Oceanfront Condos have soared up over 20% as have some houses if in good shape. Merritt Island is doing better too as so many flippers are back in business gobbling up the neglected ones and taking in the profits a few months later.

[Sun Thinker]

Actually, the previous two years were the prime times to buy. Properties I followed there have had their values go way up from the lows. Not that they're record highs now, but much higher in most cases.

I've also found that the job markets in Brevard have come back as well. Much more diverse now. Of course, jobs and prices are dependent on one another.

[Nypafl4u]

I agree Sun Thinker when looking at the last two years. I was fortunate enough to be in the market around late 2011 and made most of my purchases in 2012 and 2013. The bottom has definitely passed us, but there is still movement up overall. Think about the last six to eight years of mostly low prices. Take into consideration normal inflation and now as the markets have come up, the inflation side needs to catch up as well. You know when prices are getting back to "normal" when you can buy a lot and build a new house for about the same or a little more as one already built. You can see new houses starting to go up more frequently now, a great sign and even better for the secondary market. So I believe we have some good years ahead in this area, baring any unusual natural or man made catastrophe. Relative to the last few years, prices still have a lot of room to rise, compensate for the lost inflation, and give buyers today comfort in knowing they should have equity building up. It's the annual cycle of price movement that leads me to recommend buying in this time of the year vs. waiting to when it it gets colder and more people come out of the wood work to consider Florida as their next destination.

[Needachange03]

Hopefully, this trend continues for the next few years. My family and I are strongly considering relocating to the Melbourne area and hope to start that process in earnest in March/April. We'd rent first, then figure out where we want to live. So, 2016 maybe?

[crue cab]

Originally Posted by Nypafl4u

Anyone looking to purchase a house, condo or town home, right now is a great time to buy in Brevard County. The middle of the summer is this areas slowest season and many properties have gone down, especially those that were put on the market towards the end of the "Snowbird" season in March or April. It seems every year for the last several at least, July and August were bargain months to buy. Some may need more work and others were priced a bit too high and now realize they need to drop down. It's also late for many families that want to move and start school on time. Add in fewer people visiting in the area with the hot summer and you have the perfect storm for low prices. All these reasons create bargains for those that have the patience to look.

What real estate agency do you work for.

[crue cab]

Also be very careful about the flood zones. FEMA redrew the map early this year and flood insurance went from around $400 a year to all the way up to $5000 a year.
Ask me how I know and PM me if you want the name of the realtor that dropped the ball during our home buying experience (nightmare).

[Nypafl4u]

Originally Posted by crue cab

What real estate agency do you work for.

I am not a realtor by profession. It is more of a hobby. I plan to one day get my license (lazy I guess) but I enjoy showing properties to friends and family and usually get them the right fit if they have the time. I love the hunt, the negotiation and then the close. My sales background shines through .