Heidi Delvenne

I am finding that properties are moving here. Over the last couple of weeks I've worked with a buyer in the $150-$250K range, about half of the listings he wanted to see went under contract within a week. I've been working with 2 buyers in the $300-$500K range and have been seeing almost a 1/3 of the properties they selected to see going under contract within a week or two. I have not had the same problem with my buyers in the range of $600-$850K.

Today's paper said that foreclosures are down for the 2nd straight month in Brevard county. The Florida Association of Realtors released a report showing that the 1st quarter of this year, as compared to the 1st quarter of 2008 saw a 27% increase in sales and a 28% decrease in price. I think there is a rush for buyers to get into homes at the current interest rates and low prices before school starts, but I am guessing that sellers who are unable to sell during the summer rush may be more eager to sell in September. Just keep an eye on interest rates because they have been rising.

If you would like more information about homes in Merritt Island, Cocoa Beach or surrounding areas feel free to e-mail hdelvenne@yahoo.com or call me at 321-289-8953.

Heidi Delvenne

Florida Today continues to report that sales have picked up in Brevard county. There is speculation, or at least hope, that we have hit bottom or are very close to bottom. What I do know is that since my last post on waterfront homes in Merritt Island, the sales have doubled. According to the MLS, over the last 90 days 31 waterfront homes sold. The majority of these are canal-navigational homes on Sykes Creek.

Waterfront homes sold in Merritt Island over the last 90 days:

• Between $190,000 and $300,000 12 homes were sold
• Between $300,000 and $400,000 15 homes were sold
• One sold for $475,000
• One sold for $540,000
• One sold for $1.36 million
• Ones sold for $2.6 million

At the height of the market, in 2004 and 2005, a home that is now selling for about $300,000 was selling for around $500,000. Short sales and foreclosures have driven home sales down and it seems that sellers have finally realized that they need to price their homes accordingly. If you are looking at buying a waterfront home there are a lot of choices. Interest rates are historically low. And you may benefit from the stimulus package. The latest report I have seen on the proposed housing stimulus offers an $8,000 tax credit (you do not have to re-pay this amount, it is a true tax credit) for purchasing a home, however this will be phased out for couples earning more than $150,000 or single people making more than $75,000. This report can be found at: http://www.floridarealtors.org/NewsAndEvents/n1-021309.cfm

Here is a break down of Merritt Island waterfront homes currently on the market today:

• 20 homes between $180,000 and $250,000
• 22 homes between $250,000 and $350,000
• 16 homes between $350,000 and $450,000
• 19 homes between $450,000 and $650,000
• 26 homes between $650,000 and $850,000
• 6 homes between $850,000 and $1million
• 19 homes over $1million

If you are considering a move to Merritt Island, Florida check out this list of links for information on schools, parks, the Chamber of Commerce and more. Please call me for additional information on homes in Merritt Island, Cocoa Beach and the surrounding areas.

Heidi Delvenne

Licensed, Florida REALTOR®
Florida Properties For Sale, LLC
321-289-8953 hdelvenne@yahoo.com www.HeidiDelvenne.com

Located 45 minutes East of Orlando, Merritt Island in Brevard County, is a great place to call home. It is surrounded by water from the Indian River Lagoon to the Banana River with Sykes Creek and Newfound Harbor in between. If you are looking to live in tropical paradise look no further. The island is an hour from Orlando's theme parks and attractions and a mere 5 minutes from the ocean. Visit Cape Canaveral for a seafood dinner and an evening on a casino ship. Play in the sand and then shop at Ron Jon's Surf Shop in Cocoa Beach.

Merritt Island offers all the conveniences of a city, such as the Merritt Square Mall complete with movie theatre and major retail chain stores, including Circuit City, Home Depot, Office Depot, TJ Maxx, Toys R Us, Target and Walmart, without city taxes. The area is a haven for wildlife including dolphins, manatees, alligators, bald eagles, ospreys, sea turtles, bobcats and even the elusive Florida panther. And if you, like my husband and I, enjoy boating you can either find a home with a boat dock or house your boat at a local marina.

Many of our local neighborhoods with modest homes on the water were built to accommodate NASA engineers working at the JFK Space Center in the late 60's and early 70's. A few of my personal favorite, moderately priced neighborhoods built around canals include Villa de Palmas, Waterway Manor and Diana Shores. There are also lovely, moderately priced river front homes all along North Banana River Drive. According to City-Data.com the population of Merritt Island exceeded 40,000 in July 2007.

Currently there are 576 active single family listings in our local MLS, 82 of these are listed as canal navigational and 90 are listed as river front. The canal navigational homes listed start at US$180,000 with the highest priced listed for $1,299,000, approximately half of those listings are under $350,000. Over the last 90 days 16 canal navigational homes sold between $180,000 and $460,000. Over the last 90 days 4 river front homes were sold for $310,000, $464,500, $925,000 and $1,350,000.

If you are considering a move to Merritt Island, Florida check out this list of links for information on schools, parks, the Chamber of Commerce and more. Please call me for additional information on homes in Merritt Island, Cape Canaveral, Cocoa Beach, Satellite Beach, Indialantic, Indian Harbor Beach and surrounding areas.

Heidi Delvenne

REALTOR®
Florida Properties For Sale, LLC
321-289-8953

hdelvenne@yahoo.com

www.HeidiDelvenne.com

Today's paper, Florida Today, reports our temperature will be a high of 83°F (31°C) and a low of 76°F (27°C). Not bad for October 8^th. In New York today's low is forecasted at 51°F (11°C) and in Montreal the low is expected to drop to a chilly 37°F (2°C). Brrrr!

I'm thinking some people might be dreaming about spending this winter at the beach. And I'm wondering if those future snowbirds know about Florida's Space Coast. I think we have an untapped market here with lots of opportunity for those wishing to invest in a second home. And I've been spending a lot of time viewing ocean front condos lately. From Cape Canaveral to Cocoa Beach and Satellite Beach there are very nice pieces of property available at a reasonable cost.

According to the Brevard County MLS there are currently 489 active ocean front condos available and 26 under contract today. In the past 90 days 59 of these condos were sold. Four 1 bedroom, 1 bath units were sold. Three of these were in Cocoa Beach (US$86K, $98.5K and $99K) and one in Indialantic ($120K). Twenty-five 2 bedroom units were sold at a low of $156K and a high of $280K. The remaining 30 units were 3 bedrooms or more and sold for $150K-$850K.

Whether you are looking for a high rise with a view to East of the ocean and a view to the West of the Banana River or a second story unit with a fantastic view of the ocean from the moment you walk in the door, there is plenty of choice. Port Canaveral offers several seafood restaurants to choose from with live music nightly and a view of the casino cruise which sails nightly. Cocoa Beach is alive with night life and Satellite Beach has a quieter, more family-oriented feel.

There is much to see and do in Brevard County, from outdoor water activities to the Kennedy Space Center and it is conveniently located to Orlando, the Orlando International Airport, Disney World and the many theme parks and attractions available there. According to Wikipedia January is the coldest month with an average low of 50.7 °F (10.4 °C); average high 71 °F (22 °C). The warmest months are July and August with average highs of 90 °F (32 °C); average lows 72.2. To learn more about the many things to do and see check out the Official Website of Florida's Space Coast Office of Tourism.

If you are considering buying or selling real estate in Brevard County and would like information call me at 321-289-8953 or e-mail hdelvenne@yahoo.com.