My Titusville FL Real Estate Blog

Gary and Diane, the new owners' of 5539 Oak Hollow Drive in Oaktrails at Meadowridge are very, very pleased with their new home.  This house went on the market April 30/08, had 1 contract fall through and now is closed on Sept. 26/08. The sellers' were prepared for a longer wait, so they too are pleased with the timing.  The house is small but adorable, wonderfully maintained and was pretty much in move-in condition.  It stared at $159,000, reduced to $149,900 and closed at $143,000.  It's a great price for this neighborhood.  Another win/win, just the way I like my transactions.  Both sellers and buyers were wonderful to work with, many thanks to all.

BREVARD MLS# 507300
Listed by:  Gail MacMillan
Sold by:  Gail MacMillan

Virtual Tour: 
http://homesweethomeflorida.com/Listing/VirtualTour.aspx?ListingID=1697353

I can help you find your Home Sweet Home in Florida ~ TODAY!

Home Sweet Home Florida Realty, Inc.
At Home With Diversity (AHWD)
Certified Residential Specialist (CRS)
e-PRO Internet Certified (e-PRO)
Graduate Realtor Institute (GRI)
Titusville, Florida
Cell: 321.544.6808

www.HomeSweetHomeFlorida.com  
http://activerain.com/blogs/homesweethomeflorida

Meet my 2 trusting, loving, gorgeous (albeit) high-maintenance Himalayans.  They weren't exactly rescued but the breeder was very happy to give them to a good home.  I had one of her Himmies before, for over 17 years so she knew who was getting her kittens.  These cats are now so over-bred that their little faces are EX-tremely smooshed which causes them horrendous sinus & drainage problems.  But since they don't know any better they just act like any other normal cat.  I have to wash their faces all the time but that's OK, we all know the drill.  They're both 9 years old now.  They love us as much as we love them :-) .....and yes....TinkerBell is possessed with lots of attitude LOL....Cookie is just a little doll!

                TinkerBell is a Blue Cream Point                                         Cookieis a Tortie Point

MistyBlue was my first kitty from Marge.  I mentioned having her for 17+ years.  She was very, very dear to me.  She passed away March 31, 1999, it was on the eve of a rare blue moon and the second full moon that month.  Everything about her was special.  When she died, I learned the meaning of a broken heart.  I swore I would never go through that again....so 9 months later I'm the mother of those 2 above. Guess it's true "never say never".

Then there's the ferals:  Daisy, SweetPea, Magic, Viva, and
Simon.  It all started with Daisy!  She was just a young,
starving mother-to-be who I found trying to get into the bird feeder just to have something to eat.....YIKES.  So we started feeding her and she had her litter.  It was so sad, she was completely wild and wouldn't bring her babies around.  When we got a look at them a few weeks later we didn't know how they would survive, but she did start bringing them in the night to eat some of the food we would leave out.  That's when we also learned there were LOTS of ferals all over the neighborhood, it was not a good situation.  I went online, read up on the TNR program (trap, neuter, return) got 8 traps and trapped 8 cats.  Long story short - 4 years later the feral population is successfully under control.  SweetPea, Magic and Viva are 3 of her surviving offspring.  Simon just decided to join the group.  He's a beautiful Siamese who someone just dumped :-(  He's been throuth the program as well, so none of these cats can breed.  They're fat and sassy...all are very approachable, except Viva.  Little did I know what I was getting into when I fed Daisy that first time.

It's a tragedy of human neglect and careless-ness that any animal be abused or thrown out to fend for itself just because they no longer fit into our plans.  These wonderful creatures did not ask for this fate; perhaps would-be pet owners should think about a long-term comittment before bringing the cute little (not) things home.  My husband and I helped a few, we can't save them all.  At least I can smile and reach out twice a day when they come for their expected meals ~ my pleasure little ones.

If anyone would like more information on the Trap, Neuter, Release program I would be happy to share what I learned.  It's a minimal cost for a tremendous return...on many levels. 

Home Sweet Home Florida Realty, Inc.
At Home With Diversity (AHWD)
Certified Residential Specialist (CRS)
e-PRO Internet Certified (e-PRO)
Graduate Realtor Institute (GRI)
Titusville, Florida
Cell: 321.544.6808

www.HomeSweetHomeFlorida.com  
http://activerain.com/blogs/homesweethomeflorida

A lot of people seem intimidated by the absorption rate which is used to determine
how long it might take real estate in a given area to sell.  Below is the formula I use
which comes right out of the relocation industry.  Typically the number of sales in a 6
month time frame is used along with the number of active listings in a market area.
Here's the formula, after trying it a few times, you'll wonder what all the hoop-la
is all about.


INVENTORY

     The total number of houses for sale within a defined market area

ABSORPTION RATE

     The rate at which homes will sell within a given period of time or unit sales per month

EXAMPLE

     23 sales in 6 months ~ divide the # sales by the # months = 3.83 sales per month

MONTHS OF INVENTORY

     Time required to sell all existing homes ~ divide inventory by absorption rate (# sales per month)

EXAMPLE

     113 houses in current inventory divided by 3.83 sales per month = 29.5 months of inventory.

In my particular market area, unfortunately, this is not an unusual number.
If you find this formula useful, please pass it along :-)

I can help you find your Home Sweet Home in Florida ~ TODAY!

Home Sweet Home Florida Realty, Inc.
At Home With Diversity (AHWD)
Certified Residential Specialist (CRS)
e-PRO Internet Certified (e-PRO)
Graduate Realtor Institute (GRI)
Titusville, Florida
Cell: 321.544.6808

www.HomeSweetHomeFlorida.com  
http://activerain.com/blogs/homesweethomeflorida

MLS Area 101 - County Line Road to SR 46 - Mims/Scottsmoor - Sept. 20, 2008

113 active listings priced from $49,500 to $2,500,000
 *6  short sales

16 properties are under contract ranging in price from $32,500 to $499,900. 
*0 short sales are under contract

34 houses have closed since January 1, 2008
23 houses have closed in the past 6 months (used for Absorption Rate)
*2 short sales closed in past 6 months ($61,900 and $93,000)

The Absorption Rate Formula would indicate the market taking 29.5 months
to absorb the current inventory of homes in MLS Area 101. This is roughly
double the time it will take homes in Fawn Lake to sell.  If the property is priced
for today's market, it's a great time to buy in MIMS, FL. 

Here's a link to the separate Fawn Lake reports:
FAWN LAKE - Mims, Brevard County FL - Market Report Sept 18, 2008 (MLS Area 101)
FAWN LAKE - Mims, Brevard County FL - Market Report July 2008 (MLS area 101)
FAWN LAKE - Mims, Brevard County FL - Market Report May 2008 (MLS AREA 101)
FAWN LAKE - Mims, Brevard County FL - Market Report Feb 2008 (MLS area 101)

I can help you find your Home Sweet Home in Florida ~ TODAY!

Home Sweet Home Florida Realty, Inc.
At Home With Diversity (AHWD)
Certified Residential Specialist (CRS)
e-PRO Internet Certified (e-PRO)
Graduate Realtor Institute (GRI)
Titusville, Florida
Cell: 321.544.6808

www.HomeSweetHomeFlorida.com  
http://activerain.com/blogs/homesweethomeflorida

MLS Area 102 - State Road 46 to Garden St. - Titusville FL - Sept. 20, 2008

210 active listings priced from $48,900 to $695,000
 *26  short sales

20 properties are under contract ranging in price from $64,900 to $199,900.  Judging
by the contract date on the MLS 1 of these appears to be a lease/purchase.
*4 short sales are under contract

99 houses have closed since January 1, 2008
73 houses have closed in the past 6 months (used for Absorption Rate)
*0 short sales closed in past 6 months

The Absorption Rate Formula would indicate the market taking 17.26 months
to absorb the current inventory of homes in MLS Area 102. However if I add
in the homes under contract (without accounting for any new listings prior to
these closings) the absorption period is reduced to 13.55 months.  This is just
about the same as the last report with an absorption rate of 17.6.  This is a
buying opportunity in Titusville FL.  Call me if you have any questions.

Here's a link to the last report:
Real Estate Market Report/Absorption Rates - Titusville FL (MLS Area 102) - July 28, 2008

I can help you find your Home Sweet Home in Florida ~ TODAY!

Home Sweet Home Florida Realty, Inc.
At Home With Diversity (AHWD)
Certified Residential Specialist (CRS)
e-PRO Internet Certified (e-PRO)
Graduate Realtor Institute (GRI)
Titusville, Florida
Cell: 321.544.6808

www.HomeSweetHomeFlorida.com  
http://activerain.com/blogs/homesweethomeflorida

MLS Area 103 - Garden St. to S.R. 50 (Cheney Highway) - Titusville FL

This is the second market report for this area. If your listing is in MLS 103
you will have to be patient and work with your agent to get the pricing right. 
Read on for absorption rates, there has not been an improvement.

In MLS Area 103 Currently there are:

501 active listings priced from $19,900 - $976,500
120 listed from $  19,900 - $100,000  
219 listed from $104,900 - $200,000 
  68 listed from $205,000 - $300,000  
  42 listed from $309,900 - $400,000 
  20 listed from $414,900 - $500,000  
  21 listed from $525,000 - $600,000   
    4 listed from $650,000 - $700,000 
    7 listed from $757,900 - $976,500

There are 41 properties under contract awaiting closing - breakdown as follows: 

10 properties are pending (contingencies removed)  
8 listed from   $59,900 - $164,000
1 listed at $329,900
1 listed at $480,900 
 

31 properties are under contract with contingencies - breakdown as follows:
11 listed from $ 38,900  - $100,000 
16 listed from $109,500 - $200,000 
 1 listed at $211,990
 3 listed at $375,000 - $400,000 

114 properties have closed since March 20, 2008 (6 months) from $40,000 - $899,000
According to the MLS, 3 of these closing were short sales.

Applying the Absorption Rate Formula says it will take the market 26.37 months
to absorb the current inventory of homes in MLS area 103.  The first report for MLS
Area 103 was on July 29, 2008.  Conditions have not improved since that report. 
Things are virtually the same, with the absorption time being a little longer which
means more new listings than closings.  It's a very good time to be buying real
estate in Titusville FL.  Below is the link to the first report for this area.

Real Estate Market Report/Absorption Rates - Titusville FL (MLS Area 103) - July 29, 2008

I can help you find your Home Sweet Home in Florida ~ TODAY!

Home Sweet Home Florida Realty, Inc.
At Home With Diversity (AHWD)
Certified Residential Specialist (CRS)
e-PRO Internet Certified (e-PRO)
Graduate Realtor Institute (GRI)
Titusville, Florida
Cell: 321.544.6808

www.HomeSweetHomeFlorida.com  
http://activerain.com/blogs/homesweethomeflorida

MLS Area 104 - State Road 50 (Cheney Hwy) to Kings Hwy - Sept. 20, 2008

114 active listings priced from $64,900 to $699,900 
 *11  short sales

15 properties are under contract ranging in price from $85,900 to $1,250,000.  Judging
by the contract dates on the MLS 3 of these appear to be lease/purchases.
*3 short sales are under contract

55 houses have closed since January 1, 2008
43 houses have closed in the past 6 months (used for Absorption Rate)
*4 short sales closed in past 6 months

The Absorption Rate Formula would indicate the market taking 15.90 months
to absorb the current inventory of homes in MLS Area 104. However if I add
in the homes under contract (without accounting for any new listings prior to
these closings) the absorption period is reduced to 11.79 months.  This is just
ever so slightly less robust than the last report, but better than Feb. and May.
See links below for comparison.  This is a great time to buy Titusville FL
real estate.

Real Estate Market Report/Absorption Rates - Titusville FL (MLS Area 104) - July 2008
Real Estate Market Report/Absorption Rates - Titusville FL (MLS Area 104) - May 2008
Real Estate Market Report/Absorption Rates - Titusville FL (MLS Area 104) - Feb. 2008

I can help you find your Home Sweet Home in Florida ~ TODAY!

Home Sweet Home Florida Realty, Inc.
At Home With Diversity (AHWD)
Certified Residential Specialist (CRS)
e-PRO Internet Certified (e-PRO)
Graduate Realtor Institute (GRI)
Titusville, Florida
Cell: 321.544.6808

www.HomeSweetHomeFlorida.com  
http://activerain.com/blogs/homesweethomeflorida

FAWN LAKE - MARKET REPORT - Sept 18, 2008

There are 15 active listings:

$249,900 - $299,900 -  3 listings
$308,000 - $369,000 -  4 listings
$419,900 - $437,700 -  5 listings
$599,700                       1 listing
$799,000                       1 listing
$2,500,000                    1 listing

1 Property is under contract:

5490 Bob White Trail - Listed $499,900  MLS #505085


There have been 7 closings in Fawn Lake in 2008: 

5400 Canvasback Dr. closed 1/31/08 - Listed $359,900 Closed $330,000  MLS #489980
5220 Amy Way closed 5/1/08 - Listed $439,900 Closed $405,000  MLS #503012
3209 Pheasant Trail closed 5/27/08 - Listed $329,900 Closed $310,000  MLS #478667
3095 Fawn Lake Blvd. closed 6/9/08 - Listed $304,900 Closed $275,000 (short sale)
3065 Green Turtle Cir. closed 7/18/2008 - Listed $299,900 Closed $275,000 MLS#511645
3210 Pheasant Trail closed 7/22/2008 - Listed $369,000 Closed $329,000 MLS #495530
2968 Stag Court closed 8/20/2008 - Listed $299,900 Closed $279,000 MLS #472921

For absorption rate purposes there have been 6 closings in the past 6 months
making the time to absorb the current inventory in Fawn Lake 15 months.

FAWN LAKE - Mims, Brevard County FL - Market Report July 2008 (MLS area 101)
FAWN LAKE - Mims, Brevard County FL - Market Report May 2008 (MLS AREA 101)
FAWN LAKE - Mims, Brevard County FL - Market Report Feb 2008 (MLS area 101)

I can help you find your Home Sweet Home in Florida ~ TODAY!

Home Sweet Home Florida Realty, Inc.
At Home With Diversity (AHWD)
Certified Residential Specialist (CRS)
e-PRO Internet Certified (e-PRO)
Graduate Realtor Institute (GRI)
Titusville, Florida
Cell: 321.544.6808

www.HomeSweetHomeFlorida.com  
http://activerain.com/blogs/homesweethomeflorida

CONTRACT FELL THRU - Back on Market, bring offers


WOW - what can I say!!!  The owner/investor of this terrific home in one of Titusville's nicer subdivisions is taking a huge loss on this sale.  It's one of the unfortunate stories of paying top dollar during the height of the market in Brevard County FL.  The owner, placing great importance on his credit, has come to terms with bringing tens of thousands of $$$ to the closing table.  My buyers are excited to get in and make it their home.  I have their current house listed and, of course, they are listed at much less than the market of three years ago.  It's the historical ebb and flow of the real estate cycle in the country, with one person's loss sometimes being another's gain. 

BREVARD MLS# 487032
Listed by:  United Country Bobby Mutter Realty
Under Contract by:  Home Sweet Home Florida Realty



I can help you find your Home Sweet Home in Florida ~ TODAY!

Home Sweet Home Florida Realty, Inc.
At Home With Diversity (AHWD)
Certified Residential Specialist (CRS)
e-PRO Internet Certified (e-PRO)
Graduate Realtor Institute (GRI)
Titusville, Florida
Cell: 321.544.6808

www.HomeSweetHomeFlorida.com  
http://activerain.com/blogs/homesweethomeflorida

This property has been sold

This adorable doll-house, listed at $149,900, with it's picture perfect setting got off to a quick start with a contract within the first month.  Unfortunately the buyer's (not mine) elected not to proceed with the contract.  But now, it's under contract again, and these buyers (my buyers this time) are crazy about this house.  And what's not to love - fabulous house, great neighborhood, unbelievable price.  It's just wonderful when everyone is delighted with the transaction.

BREVARD MLS# 507300
Listed by:  Gail MacMillan
Under contract by:  Gail MacMillan




Virtual Tour: 
http://homesweethomeflorida.com/Listing/VirtualTour.aspx?ListingID=1697353

I can help you find your Home Sweet Home in Florida ~ TODAY!

Home Sweet Home Florida Realty, Inc.
At Home With Diversity (AHWD)
Certified Residential Specialist (CRS)
e-PRO Internet Certified (e-PRO)
Graduate Realtor Institute (GRI)
Titusville, Florida
Cell: 321.544.6808

www.HomeSweetHomeFlorida.com  
http://activerain.com/blogs/homesweethomeflorida