Dec. 7, 2018

4 Reasons to Buy A Home This Winter!

Here are four great reasons to consider buying a home today instead of waiting.

1. Prices Will Continue to Rise

CoreLogic’s latest Home Price Insight report revealed that home prices have appreciated by 5.6% over the last 12 months. The same report predicts that prices will continue to increase at a rate of 4.7% over the next year.

The bottom in home prices has come and gone. Home values will continue to appreciate for years. Waiting no longer makes sense.

2. Mortgage Interest Rates Are Projected to Increase 

Freddie Mac’s Primary Mortgage Market Survey shows that interest rates for a 30-year mortgage have hovered around 4.8%. Most experts predict that rates will rise over the next 12 months. The Mortgage Bankers Association, Fannie Mae, Freddie Mac and the National Association of Realtors are in unison, projecting that rates will increase in 2019.

An increase in rates will impact YOUR monthly mortgage payment. A year from now, your housing expense will increase if a mortgage is necessary to buy your next home.

3. Either Way, You are Paying a Mortgage

There are some renters who have not yet purchased homes because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize that unless you are living with your parents rent-free, you are paying a mortgage – either yours or your landlord’s.

As an owner, your mortgage payment is a form of ‘forced savings’ that allows you to build equity in your home that you can tap into later in life. As a renter, you guarantee your landlord is the person building that equity.

Are you ready to put your housing cost to work for you?

4. It’s Time to Move on With Your Life

The ‘cost’ of a home is determined by two major components: the price of the home and the current mortgage rate. It appears that both are on the rise.

But what if they weren’t? Would you wait?

Look at the actual reason you are buying and decide if it is worth waiting. Whether you want to have a great place for your children to grow up, you want your family to be safer, or you just want to have control over renovations, maybe now is the time to buy.

If the right thing for you and your family is to purchase a home this year, buying sooner rather than later could lead to substantial savings.

Dec. 4, 2018

Homeowners Aged 65+ Have 48x More Net Worth Than Renters

Every three years, the Federal Reserve conducts their Survey of Consumer Finances in which they collect data across all economic and social groups. Their latest survey data covers responses from 2013-2016.

The study revealed that the median net worth of a homeowner was $231,400 – a 15% increase since 2013. At the same time, the median net worth of renters decreased by 5% ($5,200 today compared to $5,500 in 2013).

These numbers reveal that the net worth of a homeowner is over 44 times greater than that of a renter.

There are many who see that statistic and point toward how broad the range of respondents are for the Federal Reserve survey. Their study includes all economic and social groups and also includes all age groups. The argument is that older respondents have a higher likelihood of being homeowners, while the homeownership rate among younger survey takers is much lower.

Recently, the Joint Center for Housing Studies at Harvard University focused on homeowners and renters over the age of 65. Their study revealed that the difference in net worth between homeowners and renters at this age group was actually 47.5 times greater!

Homeowners Aged 65+ Have 48x More Net Worth Than Renters | Simplifying The Market

Homeowners over the age of 65 are much more financially prepared for retirement and often own their homes outright if they were fortunate enough to purchase their homes before the age of 36. Their 30 years of mortgage payments have paid off as they gained equity through their monthly payments and as home values appreciated.

It is no surprise that lifelong-renters have had a hard time accruing net worth as the latest Census report shows that the Median Asking Rent has been climbing consistently over the last 30 years.

Homeowners Aged 65+ Have 48x More Net Worth Than Renters | Simplifying The Market

Bottom Line

As a homeowner you put your monthly mortgage payment to work for you, building your net worth with every payment.

 

Nov. 29, 2018

Just Listed! 530 Clarke Ave, Melbourne

The Coastal Estate Team Just Listed

530 Clarke Avenue, Melbourne, FL  32935

LOOKING FOR A MOVE IN READY HOME WITH A BRAND NEW ROOF (Nov 2018) AND ENOUGH ROOM FOR THE ENTIRE FAMILY - LOOK NO FURTHER! This CLEAN four bedroom 2 bath home has tile throughout, granite in kitchen and updated tile & vanities in both baths. BRAND NEW stainless steal appliances. Second living space or 4th bedroom off the back of the home has a charming brick walled fireplace with sliders off the porch as well as a full bath attached. Interior laundry room. Great quiet neighborhood in a central location close to beaches and 95. Private backyard with canal in the rear adding an extra buffer between any neighbors.

If you are considering Selling your Brevard County home, Find Out What Your Home is Worth

Start your dream home search right here: Coastal Estate Team Dream Home Search

Whether you are buying or selling, it would be our pleasure to represent you!

Please call or email the Coastal Estate Team to review your real estate needs.

 


 

Contact Taylor Sentz at:
Phone: 321.537.5787
Email: sentztaylor@gmail.com

 

Contact Bridget Sentz at:
Phone: 321.537.5720
Email: BridgetSentz@gmail.com

 

Contact Carolyn Smith at:
Phone: 321.271.0870
Email: CarolynSmithRealtor@gmail.com

 

Posted in Just Listed
Nov. 29, 2018

Just SOLD! 1125 Hwy A1A Unit 703, Satellite Beach

The Coastal Estate Team Just SOLD

1125 Hwy A1A Unit 703, Satellite Beach, FL  32937

Congrats to our Sellers and the buyers of this stunning 7th floor unit with spectacular ocean views!!   

SOLD for $354,000

VIEW THE PROPERTY DETAILS HERE!

 

If you are considering Selling your Brevard County home, Find Out What Your Home is Worth

Start your dream home search right here: Coastal Estate Team Dream Home Search

Whether you are buying or selling, it would be our pleasure to represent you!

Please call or email the Coastal Estate Team to review your real estate needs.

Posted in Just Sold
Nov. 29, 2018

Just SOLD! 137 11th Ave, Indialantic

Congrats to our Buyer on the purchase of this great pool home in Indialantic! 

SOLD for $391,000

VIEW THE PROPERTY DETAILS HERE!

 

If you are considering Selling your Brevard County home, Find Out What Your Home is Worth

Start your dream home search right here: Coastal Estate Team Dream Home Search

Whether you are buying or selling, it would be our pleasure to represent you!

Please call or email the Coastal Estate Team to review your real estate needs.

 

 

Contact Carolyn Smith at:
Phone: 321.271.0870
Email: CarolynSmithRealtor@gmail.com

 

Contact Bridget Sentz at:
Phone: 321.537.5720
Email: BridgetSentz@gmail.com

 

Posted in Just Sold
Nov. 27, 2018

Melbourrne Beach Holiday Events 2018

Check out the Holiday Events in Melbourne Beach!

The Melbourne Beach Historical Preservation & Awareness Board is hosting

Santa Claus at the Ryckman House - Sunday, December 2nd from 2:00-4:00 PM.

The Melbourne Beach Volunteer Fire Department is putting on three family fun Christmas Events this year:

Pizza in the Park with Santa - Thursday, December 13th at 6:00 PM

Community Christmas Tree Lighting Ceremony - Thursday, December 13th at 6:30 PM

53rd Annual Children's Christmas Parade - Saturday, December 15th at 9:00 AM

Christmas Eve Santa Stop - Monday, December 24th from 5:30-8:00 PM

Download the flyers here! 

Posted in Around Town
Nov. 26, 2018

Just Listed! 412 Hibiscus, Melbourne Beach

The Coastal Estate Team Just Listed

412 Hibiscus, Melbourne Beach, FL 32951

Fabulous Coastal Lifestyle awaits in this Fully Renovated Melbourne Beach home in the desirable SOFA area! 3 Bedroom 2 Bath plus Office. Truly enjoy Outdoor Living with incredible screened covered Lanai overlooking the Salt Water Pool with Waterfall. Soak in your Hot Tub in the privacy of your fenced backyard. Open kitchen with beautiful granite tops, stainless appliances and cabinets featuring dove tail soft close drawers and doors. Luxurious bathrooms. Wood look tile throughout living areas, bamboo floors in master bedroom and office. Security of Hurricane Impact Windows and Whole House Generator. Paver driveway. Oversized .33 lot. Incredible Melbourne Beach location just a short walk to beach, river, fishing pier, park, tennis, library, shops & restaurants. A Rated Schools.

If you are considering Selling your Brevard County home, Find Out What Your Home is Worth

Start your dream home search right here: Coastal Estate Team Dream Home Search

Whether you are buying or selling, it would be our pleasure to represent you!

Please call or email the Coastal Estate Team to review your real estate needs.

 


Contact Carolyn Smith at:
Phone: 321.271.0870
Email: CarolynSmithRealtor@gmail.com

 

Contact Bridget Sentz at:
Phone: 321.537.5720
Email: BridgetSentz@gmail.com

 

Posted in Just Listed
Nov. 23, 2018

October 2018 MLS Statistics

October 2018 MLS Statistics

A quick recap of the Brevard County Residential Report for October 2018:

Closed Sales are up 16.6% for October 2018 in which the number of units closed was 809 compared to 694 in October 2017, with an increase in cash sales of 31.9% compared to October 2017.

New Pending Sales are down -11.3% and New Listings are up 12%. The Median Sales Price for Brevard Single Family homes is up 17.9% to $230,000 compared to a year ago, which was $195,000.

Months Supply of Inventory is up 22.2% to 3.3 months, an increase from 2.7 months in 2017.

Traditional Sales are up 18.8%, with a median sales price of $234,000.

Foreclosure/REO Sales are down -23.7%, with a median sales price of $152,000.

Short Sale Closings are up 33.3%, with a median sales price of $141,025.

A quick recap of the Brevard County Townhouses/Condos for October 2018:

Closed Sales are up 21.2% for October 2018 in which the number of units closed was 234 compared to 193 in October 2017, with an increase in cash sales of 21% compared to October 2017.

New Pending Sales are up 3.7% and New Listings are up 10.6%. Median Sales Price for Townhomes/Condos is up 9.4% to $175,000 compared to a year ago, which was $160,000.

Months Supply of Inventory increased to 3.6 months in October 2018 from 3.4 months in October 2017. Traditional Sales are up 26.2%, with a median sales price of $175,000.

Foreclosure/REO Sales were down -62.5% with a median sales price of $60,000.

Short Sale Closings are down -100% with no short sales in October 2018.

 

 

If you are considering Selling your Brevard County home, Find Out What Your Home is Worth

Start your dream home search right here: Coastal Estate Team Dream Home Search

Whether you are buying or selling, it would be our pleasure to represent you!

Please call or email the Coastal Estate Team to review your real estate needs.

 


Contact Carolyn Smith at:
Phone: 321.271.0870
Email: CarolynSmithRealtor@gmail.com

Contact Bridget Sentz at:
Phone: 321.537.5720
Email: BridgetSentz@gmail.com

 

Nov. 21, 2018

Just SOLD! 278 Magnolia Avenue, Melbourne

The Coastal Estate Team Just SOLD

278 S. Magnolia Avenue, Melbourne, FL

Congrats to our Buyers on this 3 bedrooom Pool Home in Melbourne!

 

VIEW THE PROPERTY DETAILS HERE!

 

If you are considering Selling your Brevard County home, Find Out What Your Home is Worth

Start your dream home search right here: Coastal Estate Team Dream Home Search

Whether you are buying or selling, it would be our pleasure to represent you!

Please call or email the Coastal Estate Team to review your real estate needs.

Posted in Just Sold
Nov. 20, 2018

Just Listed! 3791 Durksly Drive, Melbourne

The Coastal Estate Team Just Listed

3791 Durksly Drive, Melbourne

Why wait to build when you can have this beautiful custom built home that is move-in ready? 10 year structural warranty still in effect! 4/3, plus study/office plus a media room/playroom with over 3,200 living sq ft located in St. Andrews Manor! Two of the bedrooms have ensuite bathrooms - the guest suite is great for in-laws, out of town guests, or older kids. The kitchen and master bathroom have low maintenance quartz countertops. Guest bathrooms have granite counters. Gorgeous wood-look tile throughout the living areas. There are so many upgrades in this home! Crown molding, two pantries, a huge mudroom with laundry area, tankless water heater...too many features to list! See special features sheet in docs.

If you are considering Selling your Brevard County home, Find Out What Your Home is Worth

Start your dream home search right here: Coastal Estate Team Dream Home Search

Whether you are buying or selling, it would be our pleasure to represent you!

Please call or email the Coastal Estate Team to review your real estate needs.

 


Contact Kellie Bowling at:
Phone: 321.446.6575
Email: kbowling@remax.net

Contact Bridget Sentz at:
Phone: 321.537.5720
Email: BridgetSentz@gmail.com

Contact Carolyn Smith at:
Phone: 321.271.0870
Email: CarolynSmithRealtor@gmail.com

Posted in Just Listed