Agent Newsletter | July 16th
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Weekly Calendar
Tuesday with Bobbie, 9:00-10:00 Vero Beach
Tuesday,
12 PM
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1
VA Renovation Loan, Lunch and Learn Supreme Titl
e, Melbourne
Wednesday with Bobbie 10:00 - 11:00 Melbourne
Thursday, Lunch and Learn, Vero Beach 12PM
, VHT will go over ST photography program
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SEA TURTLE REAL ESATE:
# 12 OF THE OFFICES IN IR
AVERAGE DOM 50 (lowest of the top agencies)
Great Job by all of our hard working Agents
We all realize that the best time to sell anything is when demand is high and the supply of that item is limited. Two major reports issued by the
National Association of Realtors (NAR) revealed information that suggests that now continues to be a great time to sell your house.
The report explained:
- Total housing inventory rose 2.1% to 1.96 million homes available for sale
- That represents a 4.2-month supply at the current sales pace
- Unsold inventory is 8.4% lower than a year ago, marking the 24th consecutive month with year-over-year declines
According to Lawrence Yun,
Chief Economist at
NAR:
“Current demand levels indicate sales should be stronger, but it’s clear some would-be buyers are having to delay or postpone their home search because low supply is leading to worsening affordability conditions.”
In real estate, there is a guideline that often applies;
- When there is less than a 6-month supply of inventory available, we are in a seller’s market and we will see appreciation.
- Between 6-7 months is a neutral market, where prices will increase at the rate of inflation.
- More than a 7-month supply means we are in a buyer’s market and should expect depreciation in home values.
As we mentioned before, there is currently a 4.2- month supply, and houses are going under contract fast. The Confidence Index shows that 55% of properties were on the market for less than a month when sold.
In May, properties sold nationally were typically on the market for 27 days. As Yun notes, this will continue, unless more listings come to the market.
“With new and existing supply failing to catch up with demand, several markets this summer will continue to see homes going under contract at this remarkably fast pace of under a month.”
Takeaway: Inventory of homes for sale is still well below the 6-month supply needed for a normal market. And the supply will continue to
‘fail to catch up with demand’ if a
‘sizable’ supply does not enter the market.
Bottom Line If you are going to sell, now may be the time to take advantage of the ready, willing, and able buyers that are still out searching for your house. Florida's market is stable which is good.
FROM: Keep Current
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If you have not checked your education records lately, now is a good time.
You have different requirements that must be on file with NAR and DBPR.
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Your education records that are specific to your
REALTOR status and any
NAR-specific accreditations (GRI, CIPS, etc) should be present in your NAR portal. Log in to
NAR, Choose My Account/Manage Account in the upper right hand corner, then "View Your Education Records"
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You will then see a link under "Change My Information". If you have taken classes
HAVING TO DO WITH YOUR REALTOR STATUS, E.G. ETHICS, that do not appear here, call the issuing vendor of the CE credits (local Board of Realtors, Title Company, etc.) to know what was reported to whom about your attendance.
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The education requirements specific to your STATE LICENSURE, E.G. CORE LAW, should be present in your DPBR portal.
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Know Your Neighborhood
Indian River County
An economic impact study was done for the Cultural Council of Indian River County and found that
culture is the second largest industry in Indian River County with a direct economic impact of
$346 million spent on culture and cultural goods and services. The study found that 4.2% of IRC residents are part of the arts industry (national average tends to be 2% of a community).
Star Suites by Riverside Theatre will be located on the corner of Aviation Boulevard and Flight Safety Drive, adjacent to Historic Dodgertown and less than a mile from the Vero Beach Regional Airport Terminal.
A 60 one bedroom suite facility, Star Suites is an enterprise primarily created to accommodate out-of-town actors, designers, directors and artists that work or perform at Riverside Theatre. The project will include a center courtyard, clubhouse, and garden terrace for outside gatherings. During select times when rooms are not being used by artists, they will be made available to the public.
LLW Architects Inc., of Memphis, has been selected as the architectural firm designing the facility with Kimley-Horn serving as the civil engineers and Proctor Construction as construction manager.
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Know Your Neighborhood
Brevard County
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Promise Art Center Wins $100,000
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Promise In Brevard was previously awarded $15.8 million to construct an innovative residential campus for special-needs adults near the Hammock Landing shopping complex.
Promise In Brevard owns 39 acres of property off Norfolk Parkway, just north of the Carmike West Melbourne 12 movie theater. The nonprofit plans to build a trio of three-story apartment buildings for 125 special-needs residents, along with a 13,000-square-foot clubhouse and 9 Social projects that provide places of employment for their residents such as an Equestrian Center Riding area, Cafe and Doggie Daycare.
http://promiseinbrevard.com/see-it
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VA Renovation Loan
Lunch and Learn
Tuesday, July 18 at
12 PM -
1 PM
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2415 S Babcock St, Melbourne, Florida 32901
RSVP HERE
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Turtle Towels are in! Made by a local running enthusiast couple, these go over your client's' car seat to protect it from sweat, sand and Florida funk. Our logo goes over the head rest. $20.00/per.
Congrats Donna Williford, who won a free towel when she responded 1st to the last Newsletter Easter Egg!
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Tour de Turtles Kick-Off Social
Saturday, July 29 at
6 PM -
8 PM
Sea Turtle Real Estate is a proud sponsor of this event!
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Join the Sea Turtle Conservancy as we kick off the 10th Annual Tour de Turtles with a celebration featuring hors d’oeuvres, refreshments, live music, and a silent auction to benefit sea turtle conservation and habitat protection in Brevard County. All proceeds from the event support sea turtle conservation efforts.
Tickets are $20 in advance or $35 at the door. This event typically sells out so buy your tickets soon!
https://conserveturtles.org/sea-turtle-tracking-tour-de-turtles-kick-off-social/
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First agent to post a photo of him/herself/our group at this event to social media and tag our office Facebook page will have next monthly tech fee waived.
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SentriLock will no longer support iOS 7.x for iPhones and OS 5.x for Android as of July 26th, 2017. If you have an older phone and use the SentriLock app to access electronic lock boxes in Indian River County, you can use a SentriLock smart card instead. The RAIRC will assist you with getting a card if you don't have one.
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