A new president . . . new programs for homeowners in trouble . . . clear, crisp and cool weather . . .
Let's be optimistic. We have reason to be.
New companies are building corporate headquarters on the Space Coast, new cruise ships are under construction and bound for Brevard County, and a standalone convention center is expected to open early next year at Port Canaveral.
The economy in Brevard County, although affected by the recession, is a pocket of fresh air when we look at other locations around the nation. This is not to minimize the fact that we all are still tightening our belts, unemployment is up and we all are feeling the hit of this significant economic downturn.
Still, we must count our blessings. As the snow begins to fall in the North, the real estate market begins to pick up in the South. Our snowbirds entertain thoughts of settling into Brevard County. Condominium prices are the lowest in many years. This market is tempting our seasonal residents to purchase instead of renting. And this is an intelligent decision for our Northerners. While the stock market continues to be volatile, the real estate market continues to show the signs of stabilizing.
Prices are not going up and will not for some time, however, the stability and consistency is shown in the increased activity each and every month in the volume of sales. The hot deals will not be here forever. Listing inventory continues to shrink and market activity continues to increase. Programs for easier financing are beginning to become available but many buyers are opting to pay cash for their purchase.
Cash from savings or liquidation of retirement funds are freeing up buyers to an easy purchase in this buyer's market. A clever alternative and a safer alternative, is the purchase of real estate as a home or investment property. For negotiations, cash buyers continue to have the leverage in today's market.
Where else can one purchase a home in the $60,000 to $100,000 range? Where else can one find an oceanfront condo for under $350,000? Brevard County is one of the most affordable areas for real estate. Combine this with the quality of life in our beautiful county. Meandering waterways, clean beaches, breathable clear air and wonderful friendly people, offer relocating families, the "best" of life.
Sunday, November 30, 2008
Paying cash has its perks.
Posted by Barbara Wall at Sunday, November 30, 2008
Labels: Brevard County, buyer's market, home buyers, investment property, real estate, real estate market

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