Now is the time to buy!

Wow! This market is exciting and challenging.

Real estate sales continue to sizzle as the summer heat comes to Florida. Carey Bay, in a DSNews article published June 3, writes,

"For the first quarter of 2009, only six states saw an increase in home sales,
and Florida was among the lucky few."

Carey further mentions that Central Florida seems to show more significant signs of recovery than other regions. The Home Building Industry is reporting an increase in new construction, which makes us all smile.

All of the indicators point to this being the right time to buy:

• Federal tax rebate for first-time homebuyers in the amount of $8,000. Note: First-time homebuyers must finalize their purchase by Nov. 30 to get this tax credit.
• Numerous financial assistance programs are available. Some offer a bridge loan to facilitate the use of the $8,000 tax credit as a down payment. Your Realtor can assist you with this information.
• Continued low interest rates.
• Continued availability of inventory in the housing market.
• Press releases indicate Brevard County is undervalued.Predictions of a mild hurricane season.

For all the reasons listed above, the Brevard real estate market has continued to be blessed with this flurry of action as buyers review their many opportunities for valuable purchases in today's market. Real estate sales strengthen the economic situation in so many ways that this is the first indication of economic recovery. The real estate market continues to face obstacles in continued low appraisals, difficulty in closing short sales and frustrated buyers who have lost money on past home sales.

The positive effects of this action far outweigh the problems. We have all learned to tighten our budgets, find energy and money-saving ideas to lower our household expenses, analyze and prepare for loan processing problems and boost those low appraisals by cash sales showing some value stability in this market.

Under the new Foreclosure Alternative Program outlined by President Obama, there is some help to streamline the short sale process creating a positive effect in moving the inventory of short sales and expediting the closing process.Local lenders are offering flexible and creative financing programs to enhance the opportunities for financing. Jumbo loans are enticing buyers with new lower rates.

The beach salt air brings a tranquility to our busy lives, the shuttle allows us to marvel in our manmade accomplishments and the abundance of Florida wildlife fascinates us daily. We are so fortunate to live in Brevard County.