Vero Beach Florida Homes

Speak up or please give up complaining—about local transportation plans at least.

One of my many joys about returning to the Vero Beach area after a visit elsewhere is the relative lack of traffic here compared to the places I visit.  However, perhaps you have some ideas about how to improve upon an already good situation.  If so, you are invited to participate in the long-term 25 year transportation plans for Indian River County. 

Do you wish we had more local public transportation, and/or passenger rail service north, south, or west?  Has the current oil spill developed a heretofore un-awakened urge to travel without your personal automobile everywhere you go? 

In order to better enjoy the great outdoors, do you wish we had more bike paths?  Should we increase the miles of sidewalks we have?  If so, where would you suggest these or other transportation amenities be constructed?

Could turn lanes help to alleviate waiting for others to turn left on certain well-traveled roads?  If so, where?  Even somewhat more mundane issues like coordination of traffic lights might be an issue you could recommend for improvement. 

What about Interstate 95 and access to the Turnpike?  Should there be more exits in our area?  Should Interstate 95 be widened in our area to coincide with the widening north and south of our county?

Whatever you envision for your future transportation in the Vero Beach area, you are in luck!   Our Indian River County government is asking for public opinions in a series for open forums – no registration required.  Speak up on May 24^th from 5:30 to 6:30 at the Gifford Community Center, 855 43^rd Ave, May 25^th from 9:45 to 10:15 at the County Administration Bldg B, Conference room 501, 1800 27^th St, May 25 1:30 to 3pm North Indian River Library, 1001 Sebastian Blvd, or May 25 4 to 6pm at the Riverhouse, 305 Acacia Rd. 

Online might be more convenient for you. If so, log on to greenirc2035.org to share your views.  You could even win a $100 gift certificate.

Indian River State College on the Treasure Coast of Florida celebrates their 50th Anniversary this year with the largest graduating class in its history.  Over 2,000 students received diplomas.  The former Indian River Community College became a state college in 2008, and offers campus locations in Vero Beach and in Fort Pierce to conveniently serve Florida’s Treasure Coast.  In addition to Liberal Arts, Fine Arts, Business Technology, Graphic Design, Civil Engineering, Health Care, including Medical Emergency Technology, Security and Loss Prevention, Corrections, Firefighting and Fire Science, Indian River has recently added bachelor degree programs in Human Services, Digital Media, and Biology.

Congratulations!  Sixteen secondary school students from Indian River County and nine students from St Lucie County were honored at the state level in the Florida Foundation for Future Scientists State Science and Engineering Fair in Orlando.  This year only one St Lucie student, who attends the academic magnet school Lincoln Park Academy, won a category and will move on to the national competition in San Jose, California to present his environmental science project. 

Two Indian River County Storm Grove Middle School students won a trip to Syracuse University in New York in this years Kids Science Challenge sponsored by the National Science Foundation.

Sebastian - Vero Beach Florida recently hosted the 2010 annual National Scholastic Surfing Association East Coast Championships — the 17th held here on the Treasure Coast at the Sebastian inlet.  The 4 day event did not disappoint the 200 contestants who praised the consistent waves, commonly thought to be the best surfing venue on the east coast.  Summer usually calms the waves in this area, however, so if you are looking for a challenge, try to visit in the early spring.

Selling a home in Vero Beach or Hutchinson Island can be a very personal experience. After all, this is the place you’ve lived for years. Maybe you renovated the interior with your own two hands. Maybe you got married here. Maybe this is even where you raised your kids. No matter what it is that makes your home, well, home, the decision to sell isn’t one that comes lightly to everyone.

The personal attachment we all have to our homes is part of the reason it can be difficult to sell a Florida home.

• Homeowners who associate positive memories with a house are more likely to value it at higher than the market rate. This can make it difficult to find a balance between what you think your home is worth and what it will reasonably sell for.

• Staging a home you love (and still live in) can be more challenging than staging an empty space. Packing away your personal belongings (e.g., pictures, knick knacks, books) to give your home a more streamlined and sell-able look for up to months at a time can put a strain on your enjoyment of the home selling and buying process.

• It can also be hard to put all your trust in another person’s hands. Selling a home in Vero Beach and the outlying areas often requires that you have open houses, walk-throughs, and open doors to everyone from real estate agents to nosy neighbors. Having others view your home – oftentimes while you are not there – requires that you put personal reservations about privacy aside.

Although this paints a rather bleak portrait of what selling a home entails, the truth is that people buy and sell homes every day. They upgrade to new family homes in Vero Beach suburbs and move to downtown condos with chic views – and are usually more than happy with the outcome.

One way to get past issues of trust and privacy is to put your home in the hands of a real estate agent you trust. Your agent works as an advocate for you and your house, making sure that everything proceeds safely and with a minimal hassle. And because your agent knows the Hutchinson Island real estate landscape, it’s easier to settle on a price and a staging set up that will get you faster results.

Ginny Mitchell has been working in the Florida area for years, and knows exactly what it is that makes local homebuyers interested. To minimize your anxiety and sell a FL home quickly and easily, feel free to call our office today.

The median price of homes in Indian River County declined 9% from the previous month and 13% from April 2009. We believe this is because of the large number foreclosure and Short Sales properties that investors and first time buyers can afford to buy to live in, rent, or renovate and flip. These lower priced homes are selling. Public employees such as teachers, police, and fire and emergency workers can now afford to purchase a home where they work instead of having to rent. 

Foreclosures and Short Sales will be around for another few years.

·  23% of all Florida mortgages are delinquent or in Foreclosure

·  49% of the sub-prime loans from 4 to 5 years ago are in or going into foreclosure

·  Many adjustable rate loans and ‘interest only’ loans are now reaching their adjustment points

·  Because of unemployment, many prime loans and now starting to default

·  During the last 5 years, sub -prime and no down payment loans have almost disappeared, but FHA and Rural Development loans have  picked up some of this slack. These government backed loans can require zero to 3% down payment. Many mortgages are ripe for delinquency as many of these mortgage holders will need to sell their houses even if they are still employed but are forced to move or sell because of other reasons. Remember home values in many sectors are still decreasing and some these families will have sell their property as a short sale.

If you are thinking of selling your property and may be put in a position of a Short Sale or a foreclosure, please call us to help you understand the different consequences between a short sale and a foreclosure.  We are both trained distressed property experts.

2010 May Vero Beach Florida Real Estate Market Median Price

Sales of Island homes in Vero Beach were down 8% from March but 25% better than March of 2009. Sale prices ranged from 4 sales under $300,000 in the Central Beach area to a high of $2,750,000 for an oceanfront home in Castaway Cove. There were also 5 other island houses that sold for over $1,000,000. There was one bank owned sale but no short sales in this group. There is now a 25 month supply of Island houses for sale at present absorption rates.

Sales in April increased 24% over the previous month and 14% over April of 2009. Many of the Vero Beach Island condo sales are purchased by part time residents and April closings are the result of contracts that were written earlier in the year during the tourist season. There were 7 sales under $200,000, 3 in Vista Del Mar. The high sale was an oceanfront unit on Beachside Drive in Orchid Island for $1,800,000. There were 4 bank owned sales and no short sales in this category. There is presently a 15 month supply of condos for sale on the island at the present absorption rate.

County wide sales of houses dropped 8% from the previous month but were still 23% higher than April of 2009. April was the best sales month in 5 years, and we should see this trend continue for another couple of months because of houses closing prior to the June 30 deadline for qualifying for the tax credit. On the MAINLAND there were 66 homes that sold for under $100,000, pretty much spread throughout the county. There was only one home that sold for over $500,000 on Tarpon Drive near Miracle Mile. There were 36 bank owned sales and 37 short sales on the mainland, 46% of the total sales. There is a 15 month supply of houses for sale in Indian River County at present absorption rate.

Sales of condos county wide increased 28% over the previous month and 21% over April of 2009. On the MAINLAND sales prices at the low end moved up a little. There were only 6 units that sold for under $50,000, 3 in Vista Royale. There were 3 more that sold in Vista for over $50,000.  At the high end of the market a 2nd floor unit sold in Palm Point for $804,000. However, this sale is a disappointment as the unit was purchased for $2,050,000 in 2005 and had been on the resale market for 24 months, finally selling for approximately 25% of original list price. Two other units have sold in this subdivision in the last 6 months under similar circumstances.  There were 3 bank owned sales and 15 short sales in this category. There is approximately a 13 month supply of condos for sale in Indian River County at the current absorption rate.

Sales on N Hutchinson Island declined 45% over the previous month and were down 29% from April 2009. Prices were down also. The only 5 sales were as follows.

·  Sea Palms, 1 BR, 3rd floor———————————-$128,222

·  Bryn Mawr Riverside 2 BR, 6th floor corner ———-$170,000  

·  Ocean Harbour South, 2BR 6th floor ——————-$180,000

·  Atlantic View, 2BR 15th floor——————————-$229,000

·  Atrium I, 3 BR, 2nd floor————————————-$385,000

Second home and vacation home buyers do not appear to have confidence that their financial condition will improve in the near future. More people are putting off retirement. Fewer people are retiring early. Also, loans on condos are available but are difficult because of bank requirements that the condos meet their standards for dues delinquency, primary home designation, mortgage delinquency, and other specifications. With 220 units for sale, there is now a 44 month supply of condos for sale on N Hutchinson Island at this time.

The National Merit Exam ranks as a national measure of educational scholarship.  Vero Beach proudly recognized 3 local students who ranked in the top 8400 students nationally who won scholarship money awards from a field of 1.5 million students from 22,000 high schools.  Vero Beach High School announced 8 National Merit Scholars this year, with 2 winning scholarship money so far.  Vero Beach St Edwards private school honored 1 scholarship money award winner this year.  Congratulations to these 3 fine scholars!