Vero Beach Florida Homes

Biological science doctoral students at Florida Atlantic University at Harbor Branch Treasure Coast campus have worked around the clock to gather marshland plant and animal samples from various gulf coast locations before crude oil hit the barrier islands and beaches.  Now that oil has fouled the beaches in many gulf locations, the students will continue to monitor the environmental effects of the spill to help with restoration process.  The impact of the oil spill is devastating the Gulf coast on so many levels, from ecology to tourism, all affecting people’s livelihoods.

Eight students from the Vero Beach / Treasure Coast FL area qualified at the Florida State Science Fair to compete with students from 60 nations around the world at the Intel International Science Fair held in San Jose, California. Kirk Henf from Sebastian River High School and Stephanie Hoskins from Lincoln Park Academy both earned 3^rd place awards, Henf in the biochemistry division, and Hoskins in microbiology.  Congratulations to all of the students and teacher / mentors who participated at this impressive level of accomplishment. 

Florida 3rd grade students, including the Vero Beach area, recently received FCAT test results that will determine their promotion to 4^th grade.  Indian River County students improved slightly with  74% of 3^rd grade students reading at or above grade level reading competency. and 86% scored well enough to pass the test.  Student math scores are reported but do not determine promotion.  Students who did not pass are offered free intensive reading summer sessions and another chance to pass the test.  There are some special exceptions for students who demonstrate competency on other tests or students with disabilities who have received the additional remediation but still cannot pass.  Several area schools showed improvements with Beachland scoring 93% of students passing, Osceola with 97% passing, and Fellsmere with 83% passing. 

Vero Beach Area Real Estate Market Update

On the Barrier Island house sales dropped slightly from the previous month and from May 2010. However, on the bright side 9 of the 22 house that sold were over $1,000,000 with two ocean front homes, which were in poor condition, selling for just over $1,000,000. There was one bank owned oceanfront home (estate) that sold for $8,800,000 on South A1A. Bargains like these are still available and will help hold the house sales on the island at a respectable level through the following normally slow months. At the other end of the sales, there was one home in central beach on Dahlia that sold for $260,000.

2010 June Vero Beach Island Home Sales Update

Condo sales on the barrier Island dropped over 50% which as expected is due to the “snow bird” exodus. However sales were level with May of 2009. The only highlights were one sale in the Carlton for $1,800,000 and a sale at The Gables for $775,000. At the low end, there were 6 sales under $200,000.

2010 June Vero Beach Island Condo Sales Update

May sales of houses in Indian River County increased slightly over the previous month but were down a little from May 2009.  There was a substantial increase in the number of lower priced homes sold.  On the mainland 44% of the houses sold were priced under $100,000.  Over all 45% of the all of the houses sold on the mainland were foreclosures or short sales. Most of the lower priced homes were in the south county. At the high end there were 4 homes that sold between $525,000 and $699,000; two were in Grand Harbor, one in Indian River Club and one in Old Savannah.

2010 June Vero Beach County-wide Home Sales

Sales of condos in Indian River County dropped 40% from the previous month but were essentially the same as May 2009.  This drop is mainly contributed to the exodus of the part time winter visitors. On the mainland Vista Royale again had the most sales. Five units sold in this subdivision for less than $50,000, which approaches prices of 15 to 20 years ago. At the high end there was again one sale at Royal Palm Point for $740,000. Ten out of the 32 sales on the mainland were foreclosure related.

2010 June Vero Beach County-wide Home Sales.

2010 June Vero Beach County-wide Condo Sales

There were 7 sales on N Hutchinson Island in May, an increase of 2 over the previous month and an increase of 3 over May 2009. As in nearby Indian River County, prices have declined substantially. The high sale was #1101 in Tiara with a garage for $375,000. There were 2 bank sales, # 502 in Ocean Harbour South for $125,000 and #201 in Aquanique for $148,000. Both were good buys. The unit in OHS was stripped to the walls and is now is being refurbished and is back on the market for close to $200,000. The Aquanique unit was in decent shape and sold for approximately the same price as it sold for when new in 1994. 

2010 June N Hutchinson Island Sales

Rental properties and homes for sale in Vero Beach provide a great opportunity for those who want to live in this wonderful, vibrant city, and many area residents take advantage of both housing options. However, one of the most common questions that arise regarding the Vero Beach and Florida real estate landscape is just how beneficial it is to buy a home rather than rent one.

The question is a good one in today’s real estate market. While buying a house was once lauded as the best choice for people of all backgrounds, the truth is that buying a home is a big investment that takes time, preparation, and careful planning.

Reasons to Buy a House in the Current Market

It doesn’t matter whether you’re considering a Vero Beach house or a Hutchinson Island condo – the reasons for buying a house are good ones regardless of what type of real estate you’re after. Why?

• Interest rates are low right now. With so many foreclosed homes on the market and more sellers than there are buyers, banks and mortgage companies are offering added incentives for homebuyers. If you plan on taking out a 15- or 30-year mortgage, this can translate to savings in the tens of thousands of dollars.

• Foreclosed properties offer great deals. Although the FL real estate market is doing fairly well these days, there are still more foreclosed and discounted homes on the market than there were five or even ten years ago. If you are in a financial position to buy, you may be able to get more home for your dollar than in another economy.

• You can make an investment in the future. Given the state of the current economy, most house values are set to rise over the next few years. If you do purchase a Indian River Shores home or a house in any of the outlying areas, you’re likely to see an increase in your home’s resell price within five to ten years.

Reasons to Rent a House in the Current Market

While we always encourage individuals interested in potentially buying a home to contact us to discuss their options, there are some key triggers that might indicate you’re better served as a renter. These reasons include:

• Little to no down payment saved up. Although there are zero-down programs available (particularly for first-time State homebuyers), it’s always a better financial decision to put some money into your home purchase.

• The possibility of moving or relocating soon. Vero Beach homes for sale provide a great bargain right now – but they may not increase in value enough to immediately resell it. Buying a home and then needing to sell it right away can be a strain, since it’s likely to remain a buyer’s market for at least a few more years.

Contact Ginny Mitchell For More Information

If you’re ready to start looking at Vero Beach or Hutchinson Island homes for sale, or if you’d like more information on the benefits of buying a home versus renting one, call us today. Sometimes, it’s impossible to know if buying a home is right for you until you sit down with one of our trusted professionals and get all your questions answered.

On Friday, May 28, 2010, former SEALS who gave their lives in service to their country have been honored with the ceremonial dedication of a bronze statue of a larger than life size SEAL, which stands for Sea, Air, and Land, where these highly trained men trained and served.  The National NDT-SEAL museum, located on North Hutchinson Island, Florida draws thousands of visitors who visit the exhibits and special demonstration programs.

Dignitaries and Members of Public Attend Dedication

Color Guard Dedication of SEAL Statue

Statue Honors Fallen SEALS