Vero Beach Florida Homes

If your FL home is for sale – whether in Vero Beach, Hutchinson Island, Indian River Shores or surrounding areas – there’s a good chance your real estate agent will discuss the benefits of an open house with you. Open houses have long been a part of the home sale experience, since it allows prospective buyers to take a “low-key” approach while they browse the merchandise. It also gives your real estate agent the chance to network with a large number of potential buyers all at one time. In some cases, it also means you’ll finally sell that home!

However, an open house can be an unnerving event; after all, you’re opening your home up to complete strangers, and in most cases, you won’t be there to witness the event. By knowing what to expect, you have a better chance of selling your FL home – all while keeping a handle on your peace of mind.

• Remember that an open house is just one part of a larger marketing process. No one wants to sell your home more than your Vero Beach real estate agent, and the best approach in any sales climate is to reach as many potential homebuyers as possible. That means diversifying the way you market to include those who prefer the low-key atmosphere of an open house.

• Don’t expect immediate results. Few people enter an open house and make a purchase right then and there. The real outcome is most likely going to be a few appointments for a private viewing or future appointment.

• Remove your valuables, money, keys, pets, medications, and any paperwork that has personal information on it (such as bills). Although a good real estate agent will keep an eye on your property to avoid damages, anything that is of value (for either monetary or personal reasons) should be safely tucked away. This can actually help sell the house in the long run, since personal effects tend to turn buyers off.

• Do a walk-through with your real estate agent immediately before and after the open house. This will allow you both to determine damages or thefts with an objective eye.

• Remember that an open house can tell you a lot about your property. Your real estate agent will be able to draw conclusions based on the turnout and the overheard comments. If few people show up, it could indicate that your asking price is too high, or that your curb appeal simply isn’t up to snuff. A large turnout with few leads could mean that the problem lies with the layout or “dressing” of your home.

Selling a home in FL can be difficult in today’s market – but it isn’t impossible. By approaching your marketing strategies with an open mind – and an open house – you can get your home effectively promoted throughout the Vero Beach, Hutchinson Island and Indian River Shores housing market with better results than ever before.

A party in the park at the Heritage Center in mid-town Vero Beach complete with an opening speech by Mayor Sabin Abell and a grand birthday cake opened the festivities.  Family members of pioneer families were honored as well. 

The Heritage Center Historical Museum welcomed visitors from Vero Beach and national and international guests.  Old farming implements, photos and documents were on display as well as slide show presentations around the hall.  Visitors purchased commemerative posters, booklets, and myriad items such as Vero Beach Historical Christmas Tree decorations.

The party atmosphere would not be complete with performances.  Rock, country, and golden oldies groups, and a traditional barbershop quartet pleased the gathering.  The Guild presentation of Broadway Show hits were a crowd favorite. 

Of course there was food and lots of it, and although some vendors ran out of food, there were plenty of other options as well.  Some of us who waited “for the lines to dissipate” were among those who made alternate choices.  Fortunately I made it to the front of the line when there were 14 sandwiches remaining so I did not have to feel guilty about eating the last one.  Everything all around the park smelled and tasted good. 

 We are all anticipating the 100th Anniversary of Vero Beach in only another 10 years!

Countywide the median home price was $129,000. This is the 3rd consecutive month we have seen a decline since a high for this year close to $160,000.  Of the 142 home sales, there were 20 short sales (14%) and 35 were foreclosed homes (24%). In the last 21 months, the median price has dropped 34%. This number does not reflect an overall drop in prices this dramatic but rather a preponderance of sales in lower price ranges.

Vero Beach Median 5 Year Home Prices Graph October 2009

Island Home Sales

dropped by 50% from the previous month and were down 40% from September 2009. Days on the market averaged 167, which is still a long time, but this statistic continues to move in the right direction. Prices still continue to fall and are close to the 2004 values. Sale prices ranged from under $350,000 for 3 older smaller homes in Central Beach to $1,600,000 in Riomar Bay and an Oceanfront  home in Castaway Cove for $1,825,000. Slow sales will probably continue in this category for the rest of the year as many part time residents are staying up north until after the holidays.

Condo sales on the Island are slow, which is typical for this time of the year. However, sales are up compared previous months, and it was the best September in 4 years. Prices ranged from under $120,000 for 2 units in Del Mar and 1 in Ocean Club to one that sold for $1,750,000 in Orchid island. Sales in this category are also primarily part time residents and are expected to be slow the rest of the year.

Vero Beach Island Condo Sales 5 Year Graph October 2009

Countywide home sales continued to increase. This was the highest number of sales in September in the last 4 years. Time on the market continued to decline, which is good, but prices also continued to drop. However, we are seeing fewer very low priced homes selling. The median sale price was near $130,000 (see separate chart). On the MAINLAND, there were 132 sales ranging from only 7 sales under $50,000 to 2 homes over $700,000 in Grand Harbor and Hobart Landing. Many of the sales are triggered by the $8,000 tax credit, which will expire at the end of November and the Rural Development Loans which allow qualified buyers 0% down payment.

Vero Beach FL Home Sales 5 Year Graph October 2009

Condo sales rebounded in September back up to a level that achieves the best September in 4 years . This is the 3rd month in a row that sales levels were the best in 4 years. On the mainland there were 22 sales ranging from 11 sales under $100,000 mostly in Vista Royale, Laguna, and  Breakwater Pointe to 1 in Bent Pine for $300,000. Time on the market was down, and prices were also down. 4 sold at the Inlet of Sebastian for less than 1/2 half of their values in 2004. The same situation exists at Breakwater Pointe on Indian River  Blvd where a number of units have sold in the last 2 to 4 months.

Vero Beach Island Home Sales 5 Year Graph October 2009

Hutchinson Island

North

sales fell to 4 units in September from 15 sold in August. However, this September was still the best September in 4 years and more or less typical for this time of year.  There was a canal home that sold on Marina Drive for $279,000 that was livable but still had hurricane damage. One bank owned town house sold in the Galleons for $67,900. A corner penthouse in the Sands sold for $275,000 and 4th floor corner unit in Seabreeze for $251,000.  Again, sales are typically slow the rest of the year and possibly the first couple of months of next year.  Closings usually take at least 30 days after the contract is signed. 

No Hutchinson Island FL 5 Year Real Estate Sales October 2009