Woke up this morning about the same time the sun rose over the ocean, couldn't help but think what a lucky man I am to get to live in such a beautiful location. A place called Sebastian, but it is a place we call home.

We moved down about 5 years ago from the cold dark north. It was just under a year after the two big storms went through the area, and everyone was still in a recovery mode. Every other house had a blue tarp roof to keep the water out, and those that got repaired or built were commanding top dollar in the market, because so many people needed a home. The speculators rolled in and started building even more homes, as more people thought they could make a killing on the market.

Driving down the streets in 2006 and there was a For Sale sign in every other yard.It was difficult, if not impossible to find a home priced under 200K at that time. Average time on market was 28 days, most with multiple offers. And then the switch got turned off, and people stopped buying.

A lot of the speculators were left hanging out in the wind. The builderes were building so much that they could not get the homes completed in time for a sale, and the prices started falling.

So that brings us to today. There are lots of homes available in Sebastian and Vero Beach Florida, many of them are fantastic deals at the price they are offered at. If you have ever thought about buying a 2nd home in Sebastian, Vero Beach, or elsewhere along the Treasure Coast, now is the time. The prices may fall a little more, but we will not see the same drastic reductions that have already  occurred.

I have a client that has been shopping for a home here, and we finally found her a short sale right here in Sebastian, just a short bike ride to the river. This home is a 4/2 home built in 2004 and sold for $285,000.  The contract that we are negotiating with the lender is just under $125K, just up from what my client originally offered.

We have another client that is closing on a duplex next week, that is a foreclosure. This CBS unit was built in 2000, has 2 bedrooms, 2 baths and a single car garage on each side. One of the units has a fenced back yard because of the beautiful canal behind the property. The last sale of this property was for $265K, and we have a contract just under $105K. Don't get me wrong, my client will be doing some work there, but he should be able to rent $700/side, and there is nothing wrong with that.

Yet another client chose to buy a lot that was in foreclosure just outside of Sebastian. The lot is not on the river, but it is in a Home Owners Association that provides 30' slips to each of the property owners. The listing agent didn't know that, and listed the property without that value included. So for around $45K, my client has a cleared and filled lot, with water & sewer, and a 30' boat slip. This means he is less than 20 minutes away from the Sebastian Inlet, if he likes the big water, or just 2 minutes away from the river. Just down the street, in the same development is a FSBO sign for a vacant lot, offered for $197K.

The deals are hear, and people are buying them up. Years from now, don't be one of those people who will be kicking themselves because they didn't buy in the best buyers market that we will ever see in out life times.

If you are thinking about buying or selling real estate in Sebastian or Vero Beach, give the Oquist White Team at Coldwell Banker Ed Schlitt a call on our direct line at 772-388-6261, or just fill out the form below and we will call you!

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