Vero Beach Florida Real Estate | Vero Beach Short Sales

Vero Beach Florida Real Estate - 10 Positive Indicators

The gloom and doom reported on the nightly news is not reflected in our local Vero Beach Real Estate market. Sales for all of Florida are up 24% over this time last year. Indian River County home sales are only up 15%, but we did not experience the same level of price drops as many other counties. Waiting to purchase a Vero Beach home for sale until you see prices start to increase will result in a lost opportunity to get a low price on homes for sale in Vero Beach and Sebastian Florida.

Here are 10 reasons to start looking for a home now!

1. Great prices. Statewide, home prices have fallen about 20 percent in the past year. The Florida Association of REALTORS statistics show the existing-home median sales price was $185,400 in the third quarter of 2008, compared with $233,200 in third quarter 2007.

2. The time is right. Home sales volumes in Vero Beach Fl are rising again - a signal that the market recovery may be underway. In third quarter 2008, statewide sales of existing single-family homes were up 5 % compared to the same period last year.

3. High inventory levels. Conditions are ideal for buyers to find their dream home. Inventory is plentiful in all price ranges. But as sales volumes increase, inventory levels are likely to shrink. That reality translates into this advice for buyers: Don’t wait too long to buy a Sebastain home for sale.

4. Low mortgage rates. Mortgage rates are still at the lowest levels since the 1960s. Lower rates multiply a buyer’s financial power. Even half a percent can make a sizeable difference. For example, on a $200,000 home, half of 1 percent could save the homeowner about $815 a year.

5. Incentives to buy. Federal, state and local housing programs can help buyers make that big purchase. The first time home buyer tax credit is being increased to $8,000 and doesn’t have to be paid back if you live in the home for 3 years. The deadline is also being extended to December 2009.

6. A favored retirement destination. Over the long term, Vero Beach, Florida stands to benefit from the migration of the aging Baby Boomer generation, roughly 80 million strong. Demographic studies show that the Sunshine State’s mild climate and outdoor amenities continue to make Vero Beach and Sebastian Florida a favorite retirement destination.

7. A diverse economy. Florida’s economy, like that of the rest of the nation, is impacted by the recession. Some business sectors, though, appear promising for the Florida economy. The healthcare and technology sectors are quickly becoming an important economic force on the Treasure Coast.

8. Investment Outlook - Investors are returning to the Real Estate market as the holding costs of rental homes, due to the decrease in prices and low interest rates, is well below potential income.

9. Home-ownership has value. Realtors believe - and research supports that belief - that homeownership provides a variety of tangible and intangible benefits to the community and homeowners. Studies show that home equity is still the largest single source of household wealth.

10. An unsurpassed lifestyle. Finally, let’s not forget the things that brought people to Vero Beach, Florida in the first place, and will continue to attract them - beautiful beaches, fabulous weather and a friendly business climate, with no state income tax