Are sales heating up for summer?

Sizzle, sizzle, sizzle . . .

Action in the real estate market has increased to the point that, in my opinion from what I have witnessed, I can truly say there has been more activity (showing appointments, contracts written and closings) in the past 30-45 days than in the past four months combined. Cautiously, we approach May, June, and July with optimism.

Just a blip? Can the market continue to be active?

One or two months of activity does not yet indicate a trend. This could be just a ruffle of action. Time will tell, but let's hope that this will continue throughout the remainder of 2008. We can create our own future by spreading this whirlwind of action through hard work to close the sale while working with lenders' new restrictions and conservative appraisals.

Obstacles challenge all involved in the real estate transaction. The goal is to hang in there if buying or selling. There exists a ripple effect when sales begin -- when a buyer completes a
sale, it frees a seller to begin seriously shopping, which can lead to another sale, and so forth.

Looking up. Now for the facts to support this level of activity.

In some neighborhoods, sales have averaged about one a month for a while. Now, those same areas have five to six pending contracts. Compared to one home sale per month, this is incredible.

Sale prices are not, in most cases, showing increases in value. In fact, some decreases in value, in current sale prices are reflected in the closed sale data. The volume of sales has increased but the values are tending to remain the same or decrease slightly. Another fact: there are fewer properties on the market.

The Home Builders and Contractors of Brevard recently wrapped up its Parade of Homes on a high note, encouraged by the traffic they saw at their sales sites. Upswings in the market have to start somewhere. While this could be a short-term blip in the market, it also could be the
beginnings of a better summer.

Finding balance in today's market.

Knowing the difference between wants and needs -- and staying faithful to those differences when buying or selling real estate -- is as important now as ever.

As a seller, determine what you need to do.

• Must you sell in today's market?
• Is illness forcing the sale?
• Are finances forcing the sale?
• Is a job transfer forcing the sale?

If the answer is yes to any of these questions, there is little room for options. You need to sell.

What do you need?

Do not worry about what your neighbor thinks of the price you place on
your property. No one has exactly your same needs. Sellers should do what they need to do to show their home on a moment's notice -- clean, paint and freshen the exterior and interior of the property, and most important, price correctly and be willing to negotiate. We are all dreaming of the day this buyer's market will change to a seller's market.

We do not know if we will ever see real estate appreciation like we had in 2005, but home ownership is still a part of the American dream. And with home ownership, you build equity and with it a measure of financial security.

What do you want?

• What are your wants?
• Do you want to scale down your lifestyle?
• Do you want to move up to a larger home for your growing family?

Today's real estate market will allow you to buy low, but you likely will have to sell low as well.
I recently listed a home for clients of mine. They wanted to pay off their $100,000 mortgage, buy a home for cash and live debt-free.

Of course, I said, "You know this is not the best time to sell, but it is an absolutely wonderful time to buy."
They agreed and followed my suggestion of coming into the office to review the sold and listed properties in their neighborhood. Once we established a value of their home, I gave them an idea of the cash they would receive at closing after paying off expenses and their mortgage.
We then found properties they could purchase with the cash they would have. This young, very smart, couple found townhomes, newer than their former home, and with the same living space. Such a smart couple.

We would all like to have our home paid for by the time we are 40. They are scheduled to close on their "dream townhome" on Monday. There is something to be learned from those who follow their wants and needs and make it all happen.

Buyers really are buying in Brevard,

Many sellers have requested additional information on today's market.

Fact No. 1: The market is still a buyer's market.

Fact No. 2: Buyers are buying.

If you are serious about selling, check the market listings in your neighborhood. Be in the top 3.
Position your home to be in the three listings of those most aggressively priced for age, size, condition and upgrades.

Think real -- know what has sold recently (during the past 120 days) as well as what is under contract now. You also need to know the prices of competitive listings. Your Realtor can give you all of this information. Most important, make sure your list price is realistic.

You will sell your home in this market if you follow these guidelines.

• Never say never. When an offer is presented, never reject the offer outright. Once you reject an offer, you have no chance of making a sale. Do not be
  insulted at the low offer. Instead, accept or counter the offer in a realistic manner that can meet your needs. The counteroffer needs to be consistent with the numbers (sale and list
  prices) in this market.
• If your buyer walks away after your counteroffer, and then you reconsider and think that you should have taken the last offer, have your agent call the buyer or buyer's agent and offer to accept the previous offer.
• Be tough.
• Remember, be aggressive!
• Take the time to look at open houses and properties that you, as a buyer, would be interested in purchasing. You may find that your favorite house is reduced to the point that you can accept a lower offer on your home and still purchase the property that
  you want.

Statistics to make you happy:

• In January, the Melbourne Area Association of Realtors shows 204 properties were sold.
• In February, these statistics show 269 sold properties.
• In March, these statistics show 336 sold properties.

Life is good -- property is selling!