Brevard County Real Estate Articles

Investment Property Home Rental Benefits

1. Steady Rental Income: Renting out your home can provide you with a consistent and steady stream of rental income. This can be especially beneficial in areas with high demand for rental properties, as you can potentially charge higher rent prices.

2. Tax Deductions: As a landlord, you can deduct certain expenses from your taxes, such as property taxes, mortgage interest, and repairs and maintenance costs. These deductions can help reduce your taxable income and increase your overall return on investment.

3. Property Appreciation: Real estate is generally considered a long-term investment, and the value of your property may appreciate over time. By renting out your home, you can earn rental income while also potentially increasing the value of your investment.

4. Asset Diversification: Renting out your home can be a way to diversify your investment portfolio. If you have most of your savings tied up in stocks, bonds, or other traditional investments, owning a rental property can provide you with a tangible and potentially lucrative alternative.

5. Low-Risk Investment: Compared to other types of investments, such as stocks or cryptocurrency, owning a rental property is considered a relatively low-risk investment. Real estate tends to have a stable and predictable return on investment, making it a popular choice among investors.

6. Potential for Passive Income: Depending on your rental property’s location, demand, and rental rates, you may be able to generate enough income to cover your expenses and still have some leftovers as passive income. This can be a great source of financial stability and can allow you to save or invest in your future.

7. Property Management Options: You can choose to manage the property yourself or hire a property management company to handle all aspects of rental including finding tenants, collecting rent, and managing repairs and maintenance. This allows you to choose the level of involvement you want in managing your investment property.

8. Long-Term Wealth Building: As mentioned earlier, real estate is generally considered a long-term investment. By renting out your home, you are building long-term wealth through rental income and potential property appreciation.

Overall, renting out your home as an investment property can provide numerous benefits and be a profitable addition to your investment portfolio. However, it is important to carefully consider the costs and responsibilities involved in being a landlord before making this decision. It is also recommended to consult with a financial advisor or real estate professional for personalized advice on how renting out your home fits into your overall investment strategy.

Brevard County FL Spring Time To Do, For The Whole Family

 

When spring comes near you will be wanting to find any excuse to get outside and enjoy the fresh air. Do not forget a good spring cleaning as well. This is a great time to showcase your entire area.

Family Walks, Arts and Culture in Brevard County FL

If you are looking for scenic picnic areas in Brevard County FL, Space View Park is one of the top choices. Capture beautiful pictures of space shuttle launches and natural sceneries. Disney`s Animal Kingdom is a great way for the whole gang to enjoy a family nature day walking with animals in the adventure land.

Grants Florida Sea Turtle Walk Best times from March through April

Walk the beaches of Grants, Florida to witness the incredible ritual of sea turtles nesting. It's best to do this between March and April when the sea turtles come ashore to lay their eggs. Get there early to witness the rare event and learn about sea turtle conservation.

Fishing and Crabbing At Cocoa Beach

Bring your fishing poles or crab nets to Cocoa Beach and spend the day casting from the pier or crabbing in the shallow waters. You can catch some fresh fish for dinner and learn about the local marine life. You can also rent paddleboards or kayaks to explore the calm waters of the lagoon.

Spring Cleaning and Garage Sales

Spring is a perfect time to declutter and get rid of unwanted items. Have a garage sale with your family and sell your unwanted items. You can also donate them to local charity organizations. This is a great way to give back to your community and get organized at the same time.

Paddleboarding in the Indian River Lagoon

Rent a paddleboard or bring your own and explore the beauty of the Indian River Lagoon. You can take a guided tour or explore on your own. This is a great way for the whole family to get some exercise and enjoy the scenic views of Brevard County. You might even spot some dolphins or manatees along the way.

Visit the Brevard Zoo

The Brevard Zoo is the perfect place for a family day out. You can see over 900 different animals, including Florida native species. You can also participate in hands-on animal encounters, feed giraffes, and ride a train through the zoo.

Spring Festivals and Events

Brevard County is known for its many festivals and events during the springtime. From art and music festivals to food and wine festivals, there is something for everyone. Check out the annual Melbourne Art Festival, Space Coast Seafood and Music Festival, and the Cocoa Village Arts and Crafts Show.

Brevard County offers many activities and events to enjoy as a family during the springtime. With so many options, you can create a fun-filled itinerary for the whole family to enjoy. Don't forget to also take some time to relax and enjoy the beautiful spring weather in Brevard County.

2024 Brevard County FL. Cost of Living Forecast

2024 Brevard County FL may see an increase in the cost of living due to various factors such as inflation, economic growth, and demand for housing. According to a cost of living calculator, the cost of living in Brevard County is expected to rise by at least 2-3% by 2024.

One major factor that could contribute to this increase is the projected population growth in the county. As more people move to the area, there will be an increased demand for housing and other goods and services, which could drive up prices.

Additionally, the cost of utilities, transportation, and groceries may also increase in the coming years. Rising energy costs and a potential increase in gas prices could contribute to this trend.

Another factor to consider is the current state of the economy. If the economy continues to grow and prosper, likely, the cost of living will also rise. On the other hand, a recession or economic downturn could result in a slower growth rate or even a decrease in the cost of living.

With all of these factors in mind, it is safe to say that residents of Brevard County should anticipate a slight increase in the cost of living by 2024. However, the exact extent of this increase will depend on future economic and demographic trends.

2024 Brevard County FL. Real Estate Forecast

The real estate market in Brevard County, Florida is expected to remain strong in 2024. Here are a few reasons why:

1. Population Growth: Brevard County is predicted to continue experiencing population growth, which will drive demand for housing. According to the University of Florida's Bureau of Economic and Business Research, Brevard County is expected to reach a population of 644,612 by 2024, an increase of over 11% from 2020.

2. Job Growth: Brevard County is home to several major employers, including NASA and the Kennedy Space Center. The increased commercial activity from these companies, as well as other businesses in the area, is expected to lead to job growth, which will attract more people to the area and drive demand for housing.

3. Low Inventory: The Brevard County real estate market is currently experiencing a shortage of inventory, which is driving up prices and making it a seller's market. This trend is expected to continue in 2024, leading to increased competition among buyers and potentially higher prices.

4. Affordable Housing: Brevard County offers a variety of housing options at affordable prices, making it an attractive location for both first-time homebuyers and retirees. This affordability is likely to continue in 2024, making the market desirable for both buyers and sellers.

5. Strong Rental Market: Brevard County's rental market is also expected to remain strong in 2024. With high demand for rental properties, landlords can potentially earn a good return on investment, making it an attractive market for real estate investors.

Overall, the Brevard County real estate market is expected to remain stable and strong in 2024, making it a desirable location for both buyers and sellers.

Advantages Of Investing In Brevard County Florida Real Estate

 

There are many advantages to investing in real estate in Brevard County, Florida. Some of the top reasons to consider this location for real estate investment include:

1. Strong economy: Brevard County has a diverse economy that is driven by various industries, including tourism, aerospace, technology, and healthcare. This diversification helps to provide stability and resilience to the local economy, making it an attractive location for real estate investment.

2. Growing population: Brevard County has seen steady population growth over the years, thanks to its attractive climate, natural beauty, and job opportunities. This growing population helps to drive demand for rental properties and can potentially lead to an appreciation in property values.

3. High rental demand: Brevard County is a popular tourist destination, which means there is a consistent demand for rental properties, especially during peak seasons. Additionally, the county is home to numerous large corporations and government agencies, bringing in a steady stream of out-of-town workers who need housing.

4. Affordable prices: Brevard County offers a wide range of affordable real estate options, making it a great choice for investors on a budget. With a lower cost of living compared to other Florida cities, investors can find properties at relatively lower prices and potentially see a higher return on investment.

5. Potential for passive income: With the high rental demand in Brevard County, investors have the opportunity to generate passive income from their properties. In addition, the low cost of living in the county can help keep expenses low and increase the potential for positive cash flow.

6. Tax benefits: Florida is known for its investor-friendly tax laws, including no state income tax. This means that investors can potentially save money on taxes, making their real estate investments even more profitable.

7. Retirement destination: Brevard County is a popular destination for retirement due to its warm climate, beautiful beaches, and abundance of recreational activities. This can create a steady demand for rental properties from retirees looking for long-term housing options.

8. Strong real estate market: The Brevard County real estate market has been consistently strong, with home values and rental rates increasing steadily over the years. This makes it a relatively low-risk location for real estate investment.

In conclusion, Brevard County, Florida offers numerous benefits for investors looking to enter the real estate market. With a robust economy, growing population, affordable prices, and potential for passive income, it is a location worth considering for your investment portfolio.

Best Brevard Rentals Property Management Advantages

 

When it comes to managing your property in Brevard County, you have two options, you can do it yourself (DIY) or hire a competent and experienced property management company. Both have their advantages with most property owners deciding on the DIY option because it gives them a sense of control. However, most of these owners discover within a short time that managing the property themselves steals them of time and does not cover vacant tenancies that can go on for weeks, perhaps months, hurting their profits.

Hiring a competent property management company can save property owners the headache of property management while ensuring maximum revenue due to a consistent occupancy rate. If you have been considering hiring a Brevard County property management service, you are making the right decision. Here are some of the advantages of working with a property management company.

Proper Pricing of The Rental Property

The most challenging part of being a landlord is knowing how to set the right rental rate. However, when you work with a property management company, they can set the ideal price for your rental property that you are not familiar with. The business will also carry out comprehensive research by comparing similar properties in Brevard County and setting the standard price for the region.

Reduced Vacancy Periods

Vacancy periods can wreak havoc on your rental profits. However, working with a property management company extends complete assurance of lowering the risk of these periods by ensuring that there are no long periods where there is no tenant in your property. The excellent marketing strategies the company employs in Brevard County will result in faster occupancy with qualified tenants.

Effective Collection of Rent

Collecting rent is never easy for many property owners. However, property management companies help to avoid the awkwardness of collecting rent from tenants by providing electronic cash transfer (ECT) services as acceptable options. This strategy also provides assurance for the tenants who are always on schedule with their payments.

Documentation Evaluation and Record-keeping

A full-service Brevard County property management company always has the review of documentation and recordkeeping as part of its services. It is good to keep up with the necessary documents needed to prove that you are compliant with the county's rental laws. Failure to comply can result in an inability to file claims in court returns. If collection becomes an issue, you have no case if your records are not correctly documented.

Dealing With Late Payments

Every landlord's nightmare is tenants who consistently default on their payments or pay late. It is tough to manage any tenant not paying on time, especially if it is not on a repayment plan or making regular payments. A Brevard County property management company will manage all this for you. They will establish a strict policy that discourages recurring late payments. This policy will also ensure that when tenants do not pay on time, they are issued notices, and the necessary legal measures used to bring the tenant back on track.

Managing Evictions

Some tenants are problematic and need to be evicted from time to time. However, this process can be intimidating for a landlord, especially if they are not familiar with the Brevard County Eviction Procedure. A property management company will professionally handle evictions on your behalf. They ensure that all the paperwork is in line with the requirement and is filed promptly within the county's legal bounds. The eviction service provided by the management company is quick and still within Florida laws.

If you are in need of a professional Brevard County property management company, please contact us today to learn more. We service all over Brevard including Mims, Port Saint John, Cocoa, Cocoa Beach, Merritt Island, Melbourne, Viera, Rockledge, Titusville, Melbourne Beach, Satellite Beach, Indian Harbour Beach, Indialantic, West Melbourne, & Palm Bay

Benefits Of Using Best Brevard Rentals Property Management In Brevard County FL.

Using the best Brevard Rentals property management in Brevard County, FL can offer several benefits. Here are a few:

 

1. Efficient Rent Collection: Property management companies have streamlined systems in place to ensure on-time rent collection. They handle the rent collection process, eliminating the need for the property owner to chase down tenants for payments.

2. Tenant Screening: Property management companies thoroughly screen tenants, performing background checks, and credit checks, and verifying employment and rental history. This helps to find reliable and responsible tenants, reducing the risk of potential problems.

3. Property Marketing: Property managers have extensive knowledge of the local market and know-how to effectively market your rental property. They use professional advertising methods to attract a larger pool of potential tenants, reducing vacancies and minimizing rental income loss.

4. Timely Maintenance and Repairs: Property management companies have a network of trusted contractors and maintenance personnel who can promptly handle any repairs or maintenance issues. They conduct regular inspections to identify and address problems before they escalate, ensuring the property's value is preserved.

5. Legal Compliance: Property managers are well-versed in local, state, and federal laws governing rental properties. They ensure that your property is compliant with all regulations, such as property registration, safety codes, and lease agreements, protecting you from potential legal issues.

6. Reduced Vacancy Rates: Property management companies have efficient tenant turnover processes in place. They quickly find new tenants when a lease expires, minimizing the vacancy period and maximizing your rental income.

7. Financial Management: A property management company can take care of financial tasks such as rent collection, accounting, and generating financial reports. This makes it easier for property owners to stay organized and track their rental property's financial performance.

8. Peace of Mind: Hiring a property management company gives property owners peace of mind, knowing that their investment is being well taken care of. They can avoid the stress and hassle associated with day-to-day property management tasks, allowing them to focus on other aspects of their life or business.

Melbourne Florida In The Fall

 

Melbourne, Florida in the fall is a pleasant time to visit. The weather typically starts to cool down from the summer heat, making it more comfortable to explore outdoor activities. Here's some information about Melbourne, Florida in the fall:

 

1. Weather: During the fall season, Melbourne experiences temperatures ranging from the upper 60s°F (around 20°C) to mid-80s°F (around 30°C). Humidity levels are relatively lower compared to the summer months.

2. Outdoor activities: In the fall, you can enjoy various outdoor activities in Melbourne. The Atlantic Ocean remains warm, so you can still swim or participate in water sports. Parks and nature reserves in the area offer opportunities for hiking, biking, and wildlife viewing.

3. Festivals and events: Fall in Melbourne brings several festivals and events. The Melbourne Main Street Fall Festival is a popular community event featuring live music, food vendors, arts and crafts, and family-friendly activities. There may also be local farmers' markets and art shows taking place.

4. Nature and wildlife: The fall season is a great time for wildlife enthusiasts in Melbourne. You can visit the Merritt Island National Wildlife Refuge, where you may spot various bird species, alligators, manatees, and other wildlife. The cooler temperatures make it a comfortable time to explore the outdoors.

5. Exploration: Melbourne is located on Florida's Space Coast, so you can also explore the Kennedy Space Center Visitor Complex, which offers an immersive experience about space exploration and NASA's history.

Remember to check local listings and websites of specific attractions and events to get the most up-to-date information about activities and timings during your visit to Melbourne, Florida in the fall.

Why Melbourne Florida Is Such A Great Place To Live

 

Melbourne, Florida is a great place to live for several reasons. Here are some key advantages of living in Melbourne:

1. Beautiful Beaches: Melbourne is located on Florida's Space Coast and boasts beautiful, pristine beaches along the Atlantic Ocean. Residents have easy access to sandy shores, allowing them to enjoy activities such as swimming, surfing, sunbathing, and beachside strolls.

2. Outdoor Recreation: Melbourne offers a wide range of outdoor recreational opportunities. There are numerous parks, nature preserves, and trails for residents to explore, providing opportunities for hiking, biking, bird-watching, and wildlife observation. The area is also popular for water sports, fishing, and boating.

3. Space Exploration: Melbourne is in close proximity to the Kennedy Space Center and Cape Canaveral Air Force Station. The area has a rich space exploration history, and residents can witness rocket launches and be part of the excitement of space exploration.

4. Strong Job Market: The Melbourne area has a robust job market, particularly in the fields of aerospace, defense, engineering, and technology. The presence of major companies and government institutions provides employment opportunities for residents.

5. Educational Institutions: Melbourne is home to several educational institutions, including the Florida Institute of Technology (FIT), Eastern Florida State College, and Keiser University. These institutions offer a range of academic programs and contribute to the intellectual vibrancy of the area.

6. Cultural Amenities: Melbourne has a burgeoning cultural scene with numerous art galleries, theaters, and museums. Residents can enjoy art exhibitions, live performances, musical concerts, and other cultural events throughout the year.

7. Shopping and Dining: The Melbourne area offers a variety of shopping options, from large retail centers to local boutiques. Residents can explore a diverse range of dining experiences, including waterfront restaurants, international cuisines, and fresh seafood options.

8. Quality Healthcare: Melbourne is home to several excellent healthcare facilities, including hospitals, medical centers, and specialized clinics. Residents have access to quality healthcare services and specialists in various fields.

9. Family-Friendly Community: Melbourne is known for its family-friendly environment. The area has top-rated schools, numerous parks, playgrounds, and recreational facilities that cater to families. There are also family-oriented events and activities throughout the year.

10. Proximity to Nature and Attractions: Melbourne is conveniently located near a variety of natural attractions. Residents can explore the nearby Merritt Island National Wildlife Refuge, go on airboat rides in the Everglades, or visit nearby theme parks such as Walt Disney World and Universal Studios.

Overall, Melbourne offers a combination of natural beauty, outdoor recreational opportunities, a strong job market, cultural amenities, and a welcoming community. It provides a high quality of life for residents of all ages and interests, making it a great place to live in Florida.

Things To Do In Brevard County Florida

Brevard County, Florida, is a vibrant and diverse destination that offers a plethora of activities for couples and families alike. From stunning beaches and outdoor adventures to cultural attractions and family-friendly experiences, Brevard County has something for everyone.

Being such a big place and having so much to offer, it’s easy to feel overwhelmed by all the choices. So, let’s explore the top things to do in Brevard County, providing an array of options to create memorable experiences for couples and families.

Enjoy the beaches: Brevard County boasts some of Florida's most beautiful beaches along its 72-mile coastline. Couples can relax on the pristine sandy shores, soak up the sun, and take romantic walks along the water. Families can build sandcastles, play beach volleyball, swim in the ocean, or enjoy a picnic with stunning ocean views. Popular beaches include Cocoa Beach, Melbourne Beach, and Playalinda Beach.

Explore Kennedy Space Center: Located on Merritt Island, Kennedy Space Center is a must-visit attraction for families and space enthusiasts. Embark on an educational journey through interactive exhibits, witness rocket launches, explore the Apollo/Saturn V Center, and even meet astronauts. Visitors can also experience simulated space missions and view historic space artifacts. Kennedy Space Center offers an awe-inspiring experience for all ages.

Visit Brevard Zoo: Brevard Zoo, located in Melbourne, is a fantastic destination for families. Explore the zoo's lush habitats and get up close to a wide range of animals from around the world. The zoo features unique experiences like giraffe feedings, kayak tours, and zip-lining adventures. Children will enjoy the interactive exhibits at the Paws On play area, where they can engage with animals and learn about conservation.

Take a kayak or airboat tour: Brevard County's waterways offer incredible opportunities for outdoor enthusiasts. Rent a kayak or join a guided tour to explore the Indian River Lagoon, Banana River, or Thousand Islands. Paddle through mangrove tunnels, observe wildlife such as manatees and dolphins, and immerse yourself in the natural beauty of the region. For a thrilling adventure, consider an airboat tour in the St. Johns River or Lake Washington.

Discover the Merritt Island National Wildlife Refuge: Nature lovers will appreciate the Merritt Island National Wildlife Refuge, a vast sanctuary that provides a habitat for numerous bird species, alligators, turtles, and more. Explore the refuge's trails, go birdwatching, or take a scenic drive along Black Point Wildlife Drive. The refuge also offers opportunities for fishing, boating, and photography, allowing visitors to connect with Florida's diverse ecosystem.

Last but certainly not least, experience Cocoa Village. This is a charming historic district filled with quaint shops, art galleries, and restaurants. Stroll along the streets lined with Victorian-style buildings, browse local boutiques, and savor delicious cuisine at the waterfront restaurants. Cocoa Village hosts various events throughout the year, including art festivals, live music performances, and holiday celebrations, providing entertainment for all.

Brevard County Florida Home Rental Market

The real estate market is filled with numerous opportunities for investors looking to expand their portfolios. Brevard County, Florida, stands out as an excellent location for real estate investment, particularly in the rental property sector.

Brevard County is a great location for real estate investors looking to purchase rental properties. The county boasts a strong economy, a growing population, and a high demand for rental housing, making it an ideal place to get into or expand real property assets. Here’s how it all breaks down:

Strong Economy

Brevard County is home to a number of major employers, including NASA, the Kennedy Space Center, and the U.S. Army. The county's unemployment rate is below the national average, and wages are rising. This strong economic environment is a major driver of demand for rental housing.

Growing Population

Brevard County is one of the fastest-growing counties in Florida. The population has increased by more than 20% in the past decade and is expected to continue to grow in the coming years. This population growth is being driven by a number of factors, including the county's strong economy, its proximity to the beach, and its mild climate.

High Demand for Rental Housing

The combination of a strong economy, a growing population, and a limited supply of housing has created a high demand for rental housing in Brevard County. The vacancy rate for rental housing is below the national average, and rents are rising. This high demand makes Brevard County a good location for real estate investors looking to purchase rental properties.

Investment Opportunities

There are a number of investment opportunities available in the Brevard County rental market. Investors can choose from a variety of property types, including single-family homes, condos, and apartments. There are also a number of different rental markets available, including the tourist market, the military market, and the workforce market.

Brevard County is a great location for real estate investors looking to purchase rental properties. The county has a strong economy, a growing population, and a high demand for rental housing. There are a number of investment opportunities available, and investors can choose from a variety of property types and rental markets. Here are some additional factors that make Brevard County a good location for real estate investors:

1. The cost of living in Brevard County is relatively low, which makes it a more affordable option for renters.
2. The county has a strong tourism industry, which creates a demand for short-term rentals.
3. The county is home to a number of military bases, which creates a demand for long-term rentals.

If you are considering investing in rental properties, Brevard County is a wonderful place to start and a location definitely worth checking out firsthand.

House Investment Property Turned Long-Term Rental

Buying and holding an investment property can be a great way to help build wealth. But, the property must have a purpose. For instance, a long-term rental home. So, if you're looking to turn an investment property into a long-term rental, there are a few things you need to do to get started.

There are some very important and distinct differences between long-term and short-term rentals. This means it’s essential to know how to get an investment property ready for its ultimate use. Here are the things you need to do:

1. Determine the rental rate.

The first step is to determine the rental rate for your property. This will depend on a number of factors, including the location, size, and amenities of your home. You can research comparable rental properties in your area to get an idea of what to charge.

2. Make any necessary repairs or updates.

Before you can start renting out your property, you'll need to make any necessary repairs or updates. This could include things like painting, fixing any leaks, or replacing outdated appliances.

3. Declutter and depersonalize your space.

Once the repairs are done, it's time to declutter and depersonalize your space. This will make it easier for potential tenants to imagine themselves living there.

4. Clean thoroughly.

This includes the inside and outside of the home, as well as the yard. Be sure to focus on curb appeal but don’t make it complicated. Simple additions like colorful flowers and mulch will do nicely.

5. Stage your home.

This means arranging furniture and decor in a way that makes the space look its best. You can hire a professional stager to help you with this.

6. Take high-quality photos.

These will be used in your rental listing, so it's important to make sure they're well-lit and show off the best features of your home.

7. Write a detailed rental listing.

This should include information about the property, the rental rate, and any pet policies.

8. Market your rental property.

You can do this online or through traditional methods like print ads or yard signs.

9. Screen potential tenants.

This involves checking their credit score, rental history, and employment status.

10. Sign a lease agreement.

This will outline the terms of the rental, such as the rental rate, length of lease, and pet policy.

11. Provide move-in instructions.

This should include information about the property, the utilities, and the trash removal schedule.

12. Be quick to respond to tenant requests.

This will help to ensure a positive rental experience for both you and your tenants.

By following these steps, you can turn your investment property into a long-term rental that will provide you with passive income and build equity over time.

Palm Bay Florida Cost of Living 2023

Palm Bay, Florida is a city located on the eastern coast of Florida, just south of Melbourne. With its beautiful weather, proximity to the beach, and affordable housing prices, Palm Bay has become a popular destination for people looking to relocate to Florida.

Now, let’s take a look at the cost of living, including housing, utilities, transportation, food, and entertainment.

1.  Housing Costs: The cost of housing in Palm Bay is relatively affordable compared to other cities in Florida. According to Zillow, the median home value in Palm Bay is currently around $225,000, which is lower than the state median of around $300,000. This makes Palm Bay an attractive destination for homebuyers looking to purchase a home at a more affordable price point.
2. Utilities: The cost of utilities in Palm Bay is about average for the state of Florida. Residents can expect to pay around $140 per month for electricity, water, and gas. However, it's important to note that during the summer months, when temperatures can soar above 90 degrees Fahrenheit, residents may see higher energy bills due to increased air conditioning usage.
3. Transportation: Palm Bay is a sprawling city, and many residents rely on cars to get around. The cost of gas in Palm Bay is currently around $2.50 per gallon, which is in line with the national average. Additionally, the city operates a bus system that provides public transportation throughout the area.
4.  Food and Groceries: The cost of food and groceries in Palm Bay is about average for the state of Florida. A gallon of milk costs around $4, while a loaf of bread costs around $3. Dining out at a restaurant can range from around $10 to $15 per person for a fast-food meal to over $30 per person for a sit-down restaurant.
5. Entertainment: Palm Bay offers a range of entertainment options, including beautiful beaches, parks, and cultural attractions. Many of these attractions are free or low-cost, making them accessible to residents on a budget. For example, the city operates several public parks and nature preserves, which offer hiking trails, picnic areas, and other amenities for free.

Before relocating to Palm Bay, it's important to do your research and consider all of the costs associated with living in the area. While Palm Bay does offer relatively affordable housing prices and a range of entertainment options, it's important to factor in other costs such as utilities and transportation.

Additionally, the city experiences hot and humid summers, which may not be suitable for everyone. However, for those who are willing to adapt to the weather and embrace the laid-back Florida lifestyle, Palm Bay can be a great place to call home.

Melbourne Florida Cost Of Living 2023

Melbourne, Florida is a beautiful coastal city located in Brevard County, Florida. With its warm weather, beautiful beaches, and numerous attractions, it is no wonder why so many people choose to call Melbourne home. However, as with any city, it is important to consider the cost of living before making a move.

In order to understand the cost of living in Melbourne, we’ll break it down into five categories: housing, transportation, food, utilities, and healthcare. Here’s how those expenses breakdown:

Housing

Housing is the biggest expense for most people, and Melbourne is no exception. The average home price in Melbourne is around $300,000, which is slightly higher than the national average. However, rental prices in Melbourne are relatively affordable, with the average rent for a one-bedroom apartment being around $1,100 per month. For those looking to buy a home in Melbourne, it is important to consider property taxes, which average around 1.1% of the home's value.

Transportation

Melbourne is a relatively small city, so transportation costs are not overly high. The average cost of gas in Melbourne is around $2.90 per gallon, which is slightly lower than the national average. Public transportation is also available in the form of the Space Coast Area Transit, which offers bus services throughout Brevard County. The cost of a one-way ticket is $1.50, and a monthly pass costs $45.

Food

The cost of food in Melbourne is comparable to other cities in the United States. A gallon of milk costs around $5.00, a loaf of bread costs around $3.00, and a dozen eggs cost around $5.00. Eating out can be more expensive, with the average meal at a mid-range restaurant costing around $15 to $20 per person.

Utilities

The cost of utilities in Melbourne is relatively affordable. The average monthly cost for electricity, heating, and water is around $250 per month, which is lower than the national average. However, it is important to note that the cost of air conditioning can be higher due to the warm weather in Melbourne.

Healthcare

Healthcare costs in Melbourne are slightly higher than the national average. The average cost of a doctor's visit is around $110, and the average cost of a dentist visit is around $150. Health insurance premiums in Melbourne are also higher than the national average, with the average monthly premium for an individual being around $500.

Overall, the cost of living in Melbourne, Florida in 2023 is comparable to other cities in the United States. Housing costs are slightly higher than the national average, but rental prices are relatively affordable. Transportation costs are relatively low, while healthcare and entertainment costs can be higher. However, with its warm weather, beautiful beaches, and thriving cultural scene, Melbourne offers a high quality of life that many find worth the cost.

Brevard County Cost Of Living 2023

As of 2023, the cost of living in Brevard County, Florida is relatively in line with both the state and national averages across various categories. In order to give you a better idea of just how these compare, we’ll go ahead and separate the most common and important expenses: food, utilities, transportation, healthcare, miscellaneous, and housing.

Located on the central east coast of the peninsula, Brevard County is in the top ten of the most populated regions in the state of Florida, with Titusville serving as the county seat. It’s a great location and better still, it’s not very expensive, either. Here’s how it all breaks down:

When it comes to food, the average monthly cost for a family of four in Brevard County is estimated to be around $800. This is slightly higher than the state average of $780 and the national average of $750.

Utilities, including electricity, gas, and water, can also be slightly higher in Brevard County. The average monthly cost for a family of four is estimated to be around $250, compared to the state average of $230 and the national average of $200.

Transportation costs in Brevard County, including the cost of owning and maintaining a vehicle, fuel, and public transportation, are estimated to be around $500 per month for a family of four. This is in line with both the state and national averages.

Healtcare costs in Brevard County are also in line with both the state and national averages. The average monthly cost for a family of four is estimated to be around $1,000, compared to the state average of $950 and the national average of $900.

Miscellaneous expenses, including entertainment, clothing, and personal care, are estimated to be around $500 per month for a family of four in Brevard County. This is slightly higher than the state average of $450 but in line with the national average.

Finally, housing costs in Brevard County can vary widely depending on location and type of residence. The average monthly cost for a family of four to rent a home is estimated to be around $1,200, while the average monthly mortgage payment for a family of four is estimated to be around $1,800. These figures are slightly higher than the state and national averages.

Overall, the cost of living in Brevard County is relatively in line with both the state and national averages, with some slight variations in certain categories such as food and utilities.

Brevard County Real Estate Forecast 2023

The Brevard County residential real estate forecast for 2023 could bring some significant changes, although it's unlikely that the market will experience a complete turnaround. Going into next year, it's highly likely the first few months will start out slow, but when the buying and selling season arrives, transactions will probably pick up the pace. Although, not without some substantial challenges that currently exist in the market and with others possibly arising. So, let's take a look at the residential real estate market for Brevard County Florida, and what we might expect to see.

The Brevard County Florida residential real estate market Outlook for next year is currently on track to continue most, if not all of its present trends. However, there is definitely some good news and it could lift the market as the spring approaches.

Brevard County consists of more than two dozen cities and at this time, there are nearly 6,900 homes for sale ranging from the low hundreds-thousands up to $18.5 million in price. The median listing price currently stands at 360,000, with a medium listing price of $214 per square foot and a median selling price of $345,000. These figures equal an 11% leap in a year-over-year comparison, meaning that homes are gaining substantial value in the area.

According to the latest statistics, the sale-to-list price ratio is extremely high, coming in at just a tad over 98%, so homes are selling for just shy of 2% under their asking price. What's more, listings aren't staying on the market too long, with the median days on the market coming in at 70 days, or just a little bit less than two and a half months' time. This is most definitely good news for sellers, but there are some obstacles to be aware of too.

Presently, the Brevard County real estate market is experiencing near parity between buyers and sellers, though it has been trending towards a buyer's market. So, are more active listings than there are active buyers. This trend will likely widen, with rising interest rates and inflation both giving buyers good reason to sit back and wait or to stay out of the market altogether. However, with so many people relocating to the state, this will increase demand for housing and that may be enough of a factor to facilitate more transactions in the new year.

Why You Need A Professional To Manage Your Property

Why do you need a professional to manage your property? This is a very common question, especially for first-time property investors. Most people think that owning a rental won't take up too much of their time and believe in the whole notion of a passive income. While it's true rental properties make great investments, they only cash flow when managed the right way. So, read on to learn more about why you need a professional to manage your property.

Why you need a professional to manage your property boils down to some very simple reasons. First and foremost, it takes a lot more time and effort than most people suppose. And, if you plan on acquiring more real estate assets, that work will only grow. In short, property investors need a professional manager for the following reasons:

1. You’ll get better tenants. One of the biggest challenges in managing a rental property isn't about things like routine maintenance. Instead, it's about getting quality tenants. If you don't have the proper screening process in place, you're not going to have good tenants, and that sets up a nightmare scenario.
2. You can avoid a lot of stress. Managing a rental property is a stressful business and it never stops. There's always something to attend to and therefore worry about. A professional knows how to deal with these situations and can take that burden off your shoulders.
3. You won’t suffer long-term vacancies. Make no mistake about it, you will have vacancy periods. A good rule of thumb is to plan for three to six months out of each year. But, if you have a professional manager, you'll always have a dedicated individual that keeps the property occupied.
4. You don’t have to deal with maintenance. That anybody that's ever owned a house known, there's always something in need of repair? And though these things come up occasionally, routine maintenance is an absolute necessity to keep the property functioning at its best and keeps your tenants happy.
5. You won’t be flummoxed by emergencies. The water heater will fail, leaks in the roof will happen, and appliances will suddenly up and quit. Having a professional to deal with emergencies is a huge benefit to not only your bottom line but your sanity.

Lastly, a professional property manager will ensure you stay in compliance with the law. It's very important that you comply with all local landlord-tenant rules as well as any federal laws or else you could find yourself in huge trouble.

Tax Benefits To Owning A Rental Home

Tax benefits of owning a rental home provide some of the reasons people get into property investment in the first place. Sure, it generates a passive income and helps to build wealth as the asset appreciates, but it also offers some tax advantages along the way. So, read on to learn about the most common tax benefits of owning a rental property.

Tax benefits of owning a rental home come in different forms. And, if the property is in one of the states that do not have a state-level income tax, it becomes all the more advantageous and profitable. Although, you don't have to be in a completely tax-free state in order to be able to benefit from some of the tax advantages when you own a rental property. Here are some of the tax benefits you will enjoy when owning a rental home:

1. Operating expense deductions. When you own a rental property, it's possible to write off many of the operating expenses that it takes to maintain the house. These can include things such as maintenance, repairs, insurance, property management, and many others as well.
2. Depreciation. Property investors usually have their tax professionals depreciate their assets in order to lower their taxes. This can be done over a number of years and is best executed through an experienced, professional tax advisor.
3.  Federal income tax. When you own a rental property, the income generated from that asset is treated as regular income, meaning that the rate paid on it equals your personal income.
4. Capital meetings deferment. Owning a rental property also gives you the option to defer capital gains, which is another big tax benefit of owning a rental home.
5. Mortgage interest deduction. If you have a mortgage on your rental property, you'll likely be able to deduct the mortgage interest on your taxes, as well.
6. Pass through deduction. There's also another option that is available to some rental property owners, called the pass-through deduction. If applicable, you'll be able to deduct as much as 20% of the earnings from the rental property if it is considered a business.

As you can see, there are several tax benefits to owning a rental home. To learn more about these and others, consult a licensed, experienced tax professional who can help you strategize and set up your filings to make your rental asset as profitable as possible.

Palm Bay Real Estate

The Palm Bay residential real estate forecast is a bit difficult to predict, given the fact that there are present and emerging factors that have yet to fully manifest. These include several things that would help to shape the overall state of the local residential real estate market. However, we can look back at previous data, along with existing trends, and estimate what might unfold in the future. So, read on to learn more about the residential real estate market in Palm Bay Florida, and what we might expect to see over the coming months.

The Palm Bay residential real estate market is in a state of dichotomy right now, because some of the statistics are juxtaposed with one another. For instance, the Palm Bay residential real estate market is currently considered a buyer's market, meaning there is far more inventory than active buyers seeking to purchase properties, yet, the days on the market are relatively short, especially when compared to other buyers' markets around the state.

Currently, the median listing price of homes in Palm Bay Florida stands at $350,000, with a median listing price per square foot of 197 and a median selling price of just over $332,000. These figures represent an increase of slightly more than 28% from last year at this time. Additionally, the sale-to-list price ratio is at 100%, meaning that homes are selling for almost their exact asking prices.

As previously mentioned, the median days on the market, or the time it is taking sellers to go under contract, now stands at 56 days or just under two months. Usually, in a buyer's market, the median days on the market are much longer, since there is so much competition among sellers and so many choices for buyers.

As for the forecast for the real estate market in Palm Bay, residents and people moving into the area should expect little change over the coming months. This is due to persistent inflationary pressure, rising interest rates, and an overall negative outlook on the national economy. Other challenges include the state of new construction in the area, ongoing labor shortages, slow delivery of materials, and other related factors.

Given these things in play, it is likely that the real estate market in Palm Bay will remain active but slow. This is good news for both sellers and buyers, who don't have to worry about getting trapped in another housing bubble.

Melbourne Florida Rentals

The Melbourne Florida rental forecast is a bit hard to pin down, but will probably deliver good things for a few key reasons. Being that Florida is one of the top states people are coming to, that bodes well for the future. Plus, there are other factors that could also play a positive role. So, rain on to learn more about the rental market forecast in Melbourne Florida.

The Melbourne Florida rental forecast should offer good things over the coming months and into next year. This is due to a few key factors, including rising interest rates, the slow pace of new construction, job opportunities in the state, and other states' high cost of living.

First, it helps to understand the local residential real estate market in Melbourne. Currently, the median listing home price in Melbourne is $424 and the median listing home price per square foot is $234. Meanwhile, the median home sold price is $397,300. These figures represent a 17.8% year-over-year increase from 2021, and this trend should continue, though not at the same pace.

The sale-to-list price ratio is 100%, meaning sellers are getting their asking or listing price. Right now, the median days on the market stand at 48 days. So, Melbourne is a seller’s market, with more people out to buy than there are available homes.

However, these statistics will change substantially over the next few months and into next year. This is due to the fact that inventory is not limitless, meaning resales can't go on forever. Additionally, fewer buyers are entering the market because of rising inflation and rising interest rates. Moreover, a shortage in construction labor and new builds means there are fewer choices for people moving to the area. That helps to put the rental market in a strong position, as does the fact that the state is experiencing more newcomers than ever before.

People continue to leave the Northeast and West Coast, and a good percentage are coming to live in the Sunshine State. These families and individuals are moving here because there's no state income tax and because rental and housing prices are relatively affordable.

Given all these factors and the state's business-friendly environment, people continue to relocate to the state and that means more opportunities for rental properties. In conclusion, the state is benefiting from its financial friendliness, and other elements, like its warm weather and natural beauty, all of which are good things for property investors.

Advantages Of Working With A Professional Property Management Company

The advantages of working with a professional property management company are numerous and quite beneficial. So much, so that with the right team, it will actually pay for itself time and time again. While some property investors try to manage their rental assets on their own, the ones who earn the most revenue rely on a  professional property management team, and for good reason.

The benefits of working with a professional property management firm can easily be derailed and become obviously advantageous when listed. Here are why savvy property owners hire a professional property management company:

1.  A professional property management company will find high-quality tenants. Do you really know how to screen potential tenants? Probably not. Even if you think you can, you’re very likely to learn it’s not that easy. It’s time-consuming and presents a difficult learning curve.
2. A professional property management company will shorten any vacancy period. Make no mistake about it, you will experience vacancies. New property investors are typically advised to plan for at least three months of vacancy. But, a professional property management team has the experience to keep these instances to a minimum and as short as possible.
3.  A professional property management company will deal with any issue right away. The water heater or HVAC can go out at any time. Usually, it’s at the worst possible time. But, if you have a dedicated team, they’ll take care of it for you.
4.  A professional property management company will take care of routine maintenance. Renters don’t lease properties to take care of routine maintenance. So, this is yet another big benefit of using a professional property management firm.
5.  A professional property management company will spot any emerging problems before they become more costly. Regular inspections will help to catch potential or emerging problems before they become expensive.
6.  A professional property management company will resolve tenant complaints to help retention. Tenants will have issues and most are generally petty but some will be bigger problems. Regardless, a professional property management team will take care of them.7. A professional property management company will also simplify the rent collection process. This is generally awkward and sometimes quite difficult and having someone else do this is very helpful.

Last but certainly not least, a professional property management company will handle evictions when necessary. This is usually a messy and contentious circumstance, so it’s nice not to have to deal with it.

Brevard County Rentals

The Brevard County rental market is experiencing an uptick in growth, as demand increases, rental rates have likewise risen. Similarly, the average price for single-family and condo units has also gone up in the resale sector, pointing to a very healthy residential real estate market overall. As more people relocate to the state of Florida and Brevard county, those increases will continue. So, read on to learn more about the rental market in Brevard County Florida, and what you need to know.

The Brevard County rental market is currently on its way up, with rates trending higher over the same time last year. At this time, the average rent in West Brevard is $1,766 for units just over 1,000 square feet. Rental rates are up across the county and throughout the space coast, ranging from as little as 10% to as much as 20% in a year-over-year comparison.

Rental rates in Brevard County will continue to rise over the course of the year and are expected to follow an upward trajectory through early next year. This is good news for property investors who can still acquire real estate at a relatively affordable price.

Right now, the median listing price in Brevard County stands at nearly 360,000, with a median listing price per square foot of 216 and a median selling price of $350,000 which represents a 23% year-over-year increase. Meanwhile, the sale-to-list price ratio in Brevard County stands at 100% which means that properties are selling at their initial listing prices. Real estate is also selling quickly, with the median days on the market being 43 days, or about a month and a half. Brevard County is also in a seller's market, having more active buyers than inventory.

Property values are on the rise across the county and are expected to increase substantially throughout the rest of the year and probably into early 2023. Although, industry experts and economists do caution that this hot market will cool and that scenario will be born out over the next six to 12 months. If so, now is the time to jump into property investing, before interest rates take up too high and lock in a more affordable acquisition price. Waiting will only be detrimental as property values continue to increase and interest rates are scheduled to rise too.

Benefits Of Investing In Brevard County Real Estate

If you're looking for a smart long-term investment, look no further than Brevard County real estate. The values continue to increase year after year, making it a sound investment for the future. In addition, Brevard County is located in a highly desirable location on Florida's Space Coast. This means that property investors can charge premium rents and still find tenants quickly. And if that's not enough, there are also good tax benefits to owning real estate as an investment.

Located on the east coast of the Florida peninsula bordering the Atlantic Ocean, Brevard County is well known for its beautiful beaches, warm weather, and of course, plenty of recreational opportunities that are available almost every day of the year.

Because of these elements, Brevard County is a wonderful place to own residential real estate. But, it doesn’t have to be your primary or only residence. You can rent it out and use it as a vacation home when you need to get away. Plus, you can always pass it on to relatives in your estate, giving them a terrific asset. All of this, not to mention the fact that it gives you a foothold in the Sunshine State where you can retire and enjoy all that Florida has to offer.

Right now, housing prices are among the highest they’ve been in the area and though values are stabilizing, this is a prime opportunity to acquire real property in a location where its value will increase year over year.

Now is a great time to invest in Brevard County real estate! The benefits of owning an investment property here are numerous: from the appreciation in the value of the property itself to the great tax breaks, you'll enjoy, to the high demand for rental units thanks to the strong job market. And if you're looking to expand your portfolio quickly, investing in Brevard County real estate can provide the perfect opportunity to do just that. So don't wait any longer, contact a local real estate agent and get started on your investment journey.

Don't miss out on the incredible opportunity to invest in Brevard County real estate! The market is ripe with potential for those looking to purchase an investment property. From the high demand for rental units to the fantastic tax benefits, now is the time to take advantage of all that Brevard County has to offer. So what are you waiting for?

Brevard County Cost Of Living 2022

If you're looking for a more affordable place to call home, look no further than Brevard County, Florida. Located on the Atlantic Coast in Central Florida, Brevard County is home to 83,380 residents and offers a cost of living that is well below the national average.

In this article, we'll take a closer look at some of the key statistics that make Brevard County an attractive place to live. We'll also explore why it's becoming increasingly popular with people from all walks of life. So whether you're thinking about making a move or are just curious about what life is like in Brevard County, read on.

The median income in Brevard County is $40,500, which is significantly lower than the national average of $57,000. However, the cost of living is also very affordable, with a median home price of just $277,000. The unemployment rate in Brevard County is relatively low at just 4.73%. However, it's important to note that the job market is competitive here. So if you're looking for work, be sure to brush up on your skills and put your best foot forward during the job search process.

For instance, using a baseline score of 100 for the national average, Brevard County is less expensive. Here, transportation scores 83, making it more affordable. Housing only earns a score of 84, so the largest expense is also one of the least costly. Healthcare earns a score of 94, while utilities score 97 and miscellaneous expenses score 98. Only the cost of groceries is on par with the national average. Put together, this makes Brevard County Florida quite affordable.

One of the things that make Brevard County so appealing is its natural beauty. With its sandy beaches and lush vegetation, it's no wonder that people are flocking here in droves. If you enjoy spending time outdoors, you'll be happy to know that there are plenty of opportunities to do so in Brevard County. There are also many great restaurants and shopping options available.

Overall, Brevard County receives an overall score of 91 out of 100, compared to the national average. This makes it more affordable to live in Brevard County than most other places in the United States. If you're looking for a place to call home that is both beautiful and affordable, Brevard County should definitely be at the top of your list.

Brevard County Home Rental Market 2022

The Brevard County rental property market is a hot one, considering the Sunshine State is one of the biggest recipients of the Great Migration (the heavy movement out of or away from the midwest, northeast, and west coast, to the southeast, particularly the Carolinas, Tennessee, and of course, Florida). Brevard is a very popular destination for tourists, but also for families, and professionals. It’s known for its beaches, warm weather year-round, and the space industry’s presence. Since it’s a great place to live, work, and play, Brevard County’s rental market is white-hot, and here’s what you need to know about it.

To understand the Brevard County rental market, it’s necessary to first understand what’s happening in the residential rental market. Because inventory is so tight and prices are so high, rental properties are in high demand.

The Brevard County rental property market is on the rise in 2022. Situated on the Space Coast and bordering the Atlantic Ocean, this beautiful part of Florida is home to 30 cities. The market offers a wide range of homes for sale, from $5,000 up to $27,000,000. In February 2022, the median listing home price was $340,000, trending upwards 21.5% year-over-year. The median listing home price per square foot was $201. The median home sold price was $324,800. The sale-to-list price ratio was 100%, with median days on the market of 48 days. Presently, it is a sellers' market, due to the lack of inventory.

The average rental price in Brevard County is $1750, with the majority of rentals being apartments (55%), followed by single-family homes (35%), and townhomes/condos (15%). The vacancy rate for rentals is approximately 14%. (The rental vacancy rate in Brevard County peaked in 2007 at 18.80%. Since then it has fallen from 5.33% to 13.47%. Data records for this series originated in 2005.)

Additionally, the lack of materials, labor, and low-interest rates are driving the housing market. But, with a lack of inventory, prices are rising quickly, even as interest rates continue to go up and up. This helps bolster rental occupancy and increase rental property values.

With the market on the rise, now is a great time to invest in rental property in Brevard County. Whether you're looking for a vacation home or an income property, there are plenty of options to choose from. Don't miss out on this opportunity -- contact a real estate professional today.

Tips For Furnishing A Rental Home In Brevard County

If you are a Brevard County Florida landlord, you know that it is important to furnish your rental property in a way that will attract renters. While some landlords may choose to forgo furniture altogether, doing so can be risky. You may find that your property sits vacant for longer than you would like because potential renters simply don't find it appealing. In this blog post, we will discuss some tips for furnishing your rental home in Brevard County Florida. Keep reading to learn more.

When furnishing a rental property, it is important to strike a balance between making the property look appealing and sticking to a budget. You don't want to spend too much money on furniture that you will have to replace when the renters move out. That said, there are some affordable pieces that can help make your property more inviting.

One way to add some color and personality to your home is by buying a few accent chairs. Accent chairs are great because they come in so many different styles and colors, making it easy to find ones that match the style of your home. These pieces can be used year-round or simply swapped out when the seasons change. You can also use accent chairs to create cozy reading nooks or add an extra seat at the dinner table.

Another affordable way to furnish your rental property is by using area rugs. Area rugs can add color and personality to a room, while also serving as a focal point. You can choose a rug that matches the style of your home, or go with a fun pattern that will stand out. Just be sure to choose a rug that is durable, since it will likely see a lot of traffic.

One final piece of advice when furnishing your rental property is to think about the needs of your potential tenants. If you know that your tenants are going to have children, for example, then it may be wise to purchase a few pieces of children's furniture. This will make the property feel more like home for your tenants and their families.

Furnishing a Brevard County rental property right will do much to keep it occupied and to make it more affordable for tenants. It’s best to keep the colors neutral and also to keep the theme consistent throughout the residence in order to make it really attractive.

Melbourne Florida Real Estate Forecast 2022

With the steady stream of new residents to Melbourne, FL, it's hard to know what the real estate market will look like in 2022. But one thing is for sure: there will be more people looking for homes than ever before. With a population forecasted to grow substantially in the next decade and average home prices rising steadily, it's time to act now if you're considering buying or selling your current property. The sooner you get started on your plans, the better!

According to the latest data, what you see is likely what you get … not much of a price change is expected this year (although it might be up or down by about 1% more than usual).

The Melbourne Florida real estate market is expected to remain strong in 2022. The median listing price is forecast to increase by 5% to $368,500, the median listing price per square foot is forecast to increase by 3% to $206, and the median selling price is forecast to increase by 4% to $367,000. The sale-to-list price ratio is forecast to remain stable at 100%, and the median days on the market are forecast to decrease by 2 days to 42 days. These forecasts are based on current market conditions and trends, so they may change as the market changes.

On the other hand, there is still a lot of room for improvement when it comes to housing in Melbourne. For example, in a recent analysis by WalletHub, Florida was ranked 50th out of 51 US states in terms of affordability and quality of life. It was also ranked 42nd overall in regard to job market strength. In order for housing demand to increase at a quicker pace, many factors need to be addressed such as improving public education and building additional residential units.

Also, the introduction of distressed properties could have a negative impact on the overall residential real estate market here in Melbourne. This is due to current circumstances, which do not include foreclosures and short sales because they were suspended or placed under moratorium during the onset of the global pandemic outbreak as well as subsequent shutdowns from local authorities.

If you're thinking of buying or selling a home in Melbourne Florida, it's important to stay up-to-date on the latest market trends. Contact a local real estate agent to get more information on the current market conditions in your area and learn about the best time to buy or sell real estate.

Refinancing Your Home For A Remodel

 

Refinancing your home for a remodel is one way to invest in your property's value and quality of life. Since many home improvement projects, whether minor or major in Scopes are quite expensive, it may make financial sense to refinance your mortgage in order to pay for key improvements. So, let's take a look at financing your house for a home improvement project and other alternatives.

Refinancing your property for a remodel is one way to obtain the money to complete such a project. However, there are other options. For instance, obtaining a line of credit, borrowing against a retirement account, cashing out an investment account, or, just using an existing or new credit card. But, not all of these are viable alternatives.

For example, a line of credit might not provide sufficient funds, whereas borrowing against a retirement account wipes out any gains that would be made during the loan repayment. Also, cashing out an investment account will almost certainly trigger penalties and taxes, while using a credit card with a high-interest rate is also an unattractive method.

Refinancing to complete a home improvement project might be the best option for a few reasons. First and foremost, the money is going right back into your property, increasing its overall value and thereby increasing its equity gains in future years. Additionally, refinancing your house for a home improvement usually requires the funds to go toward your project and not other expenses. (This is one problem people have with using lines of credit because these types of loans can be used for anything.)

Still, it is important to understand what it means to refinance for a home improvement project. Refinancing means pertaining to an entirely new home loan and does not constitute restructuring your existing mortgage. In other words, refinancing requires an appraisal of the home's value, a closing, and many of the other elements that are done during a home purchase.

Fortunately, most or all closing costs can be rolled into the refinancing package and the appraisal will substantiate the property's actual market value. What's more, since interest rates are still at near historic lows, it's entirely possible to lock in a lower interest rate, saving money over the long term.

For these reasons, it is imperative to shop refinancing products among various lenders, including your bank or credit union, regional Banks and credit unions, and other refinancing providers in order to determine which is the best for your specific situation.

Brevard County Business Forecast 2021-2022

The Brevard County business forecast for 2021 and 2022 will likely present at least a few challenges. Some of these are due to everyday logistics, while others are more political in nature. Additionally, some of these issues will be due to changes across industries that are a result of last year's pandemic onset and the subsequent shutdowns, along with the reopenings. Lean on to learn more about the Brevard County business forecast for the last quarter of this year and into the next.

Located in the eastern, central portion of the peninsula, Brevard County dates back to at least 1894. Its county seat is Titusville, which is home to the Kennedy space center. The county occupies an area known as the Space Coast, and its approximate population is just over 606,000 residents with its principal economics being driven by tourism and space. Therefore, the county is home to many hotels, restaurants, entertainment spots, and other things related to its Beach tourism, space tourism, and space industry.

Residence here very greatly in education, with a substantial percentage holding 4-year degrees and/or graduate degrees. Of course, these individuals largely work in the space industry itself or in related niches. However, there is a sizable percentage of people that work in the tourism industry, due to the miles of beaches, and its proximity to Orlando, the Theme Park Capital of the World, which is only about an hour's drive west.

Because Brevard county's two principal industries are space and tourism, the pandemic shut down almost the entirety of its economy for at least a few months last year. Though the state of Florida reopened quickly thereafter, because it relies so much on tourism, economic momentum was difficult to re-establish. Similarly, the space industry suffered massive disruptions and is only now returning to a somewhat normal workload.

Additionally, the housing sector has experienced quite a bit of change, as the state as a whole continues to welcome new residents by the thousands. Like many other parts of the state, this county’s housing market is very active. It is currently in a seller's market, with the average listing only remaining active for 52 days. The median sales price is right around $308,000, with a medium list price of $189 per square foot.

However, materials and supplies still remain scarce, driving up the cost of remodeling, new construction, as well as everyday maintenance. All of this means that the potential for businesses to open remains strong as the supply chain normalizes, but will present significant challenges in the short term. For example, there's still a labor shortage across much of the state, and Brevard County is no exception.

If supply chain issues are resolved and materials become more available, the business environment in Brevard County should offer a lot of potential over the next several months, particularly into the summer, and even spring of next year.

Is Owning A Rental Property Right For You?

Is owning a rental property right for you? That's the very question many amateurs ask when considering getting into the world of residential property investment. After all, you don't know what you don't know and it's very smart to learn as much as possible before you make a commitment. Because this is such a huge financial obligation, with a substantial time and effort commitment, you'll want to know as much as possible. So, let's get into the question of if owning a rental property is right for you.

Is owning a rental property right for you? The answer really depends on a few key factors. First and foremost, is how you'll acquire the property in the first place.

If you've inherited a real estate asset that's already a rental, this really isn't much of an issue at all. However, if you're going to buy a residential property, this is perhaps the most important aspect. That's because too many people get into the mindset that the tenants will pay the mortgage. In reality, very, very few people can make this work. This is due to the fact that they do not truly reconcile the actual, real-world expenses of owning a rental property. There's not only the mortgage but property taxes, insurance, maintenance, repairs, replacements, and emergency situations, they can see. And other very expensive carry costs.

So, it is extremely critical that you detail all expenses associated with owning a rental well before you go into the process of buying one yourself. You'll also need to account for paying income tax on the money generated from the rent you collect. Once you add up all these carry costs, you'll quickly see it is very difficult to purchase a rental property at a market rate and make any sort of profit.

Out-of-pocket expenses aren't the only thing you have to deal with. Although, although there are actually more than what's already been listed. These include fees for paying a property management company and or legal fees to pay an attorney when an eviction situation becomes inevitable. Speaking of eviction, that's another very unpleasant reality about owning a rental property. Though this type of situation certainly isn't guaranteed to happen, there's always a distinct possibility.

Moreover, you'll have to either hire a property management firm or manage the property yourself. That means taking the time to hire contractors to make repairs or going the very time-consuming route of doing it yourself. Regardless if you hire a property management team or do the work yourself, you'll still have a huge commitment either way.

Financing a Rental Home Investment

Financing a rental home investment doesn't have to be overwhelming or even unattainable. When stepping into the world of investment real estate, many people feel that it's too much and shy away. However, there are also individuals who rush into the industry, not fully understanding it, and getting themselves into a financial pickle from which they find few known good escapes. So, if you have a basic understanding, do your homework and research, and speak with others already investing in real estate, you can step in with quite a bit of confidence.

Financing a rental home investment does not have to be overly complex. Sure, it will take some creative thinking and a bit of patience, along with some vision for the future, but it is something that you can make a reality. For instance, financing a rental home investment can start with the same process that first-time homebuyers go through. That is to say, start exploring your mortgage options, and if you own your own property, its equity might just be enough to obtain a rental property to lease out.

Some real estate investors go in as a group or even just a two-person partnership. They pull their money and resources together in order to purchase and if necessary, rehabilitate a property. Then, there's also the retirement account option. While this is certainly one of the riskiest propositions, some investors in real estate get started either borrowing or cashing out retirement accounts.

Yet another means of financing a real estate investment is through unconventional loans. Also known as hard money loans, these are short-term debt instruments that provide the necessary funds to purchase and remodel a property, with terms as short as 6 months to a year. Hard money loans are available through private and specialty lenders, which have their own lending requirements.

There's also a more long-term path, which is an incremental approach. If you already own a residential residence, it's possible to rent out space or even build on it, such as a garage apartment. The rent collected can then be used toward the down payment of entirely separate rental property. Although this will take much longer, this is one of the least risky strategies for owning residential real estate as an investment.

The key to success with financing real estate as an investment is to know all your options, choose which is right for you and your particular set of circumstances, and always look at long-term, practical scenarios.

Four Essential Questions You Must Ask Your Property Manager

There are four essential questions you must ask a new property manager. The first is about real-world experience, while the second is how they qualify tenants. The third question is about how they deal with late-paying renters and the fourth is about handling legitimate renter complaints. If the answers are sound and acceptable, this is usually a good fit. However, if even one is unsatisfactory, that’s a red flag to heed. So, read on to learn the four most essential questions you should ask a potential property manager.

It’s very important to ask any new property manager four essential questions. Of course, there are a few more, but these are by far, of the utmost importance because they will separate the good from the bad. Here are the four most important questions you should ask when hiring a property manager to handle your real estate assets:

1. What types of properties have you managed? Obviously, you would greatly prefer someone or a team that’s managed the same types of properties before. But also, has at least some -- if not extensive -- experience with other property types. For instance, if you’re renting a multifamily property, he or she or the team should definitely have experience handling that same property type. Plus, a bit of experience in single-family houses and perhaps, commercial properties, as well.
2. How do you screen potential tenants? Perhaps the biggest mistake most owners make is renting to tenants who haven’t been properly screened. Of course, this leads to problematic situations, including paying late chronically or falling way behind. The individual or team should have a reliable and proven screening process in place. If not, this probably isn’t the right fit for your real estate needs.
3. How do you handle late-paying tenants? Anyone who hasn’t dealt with this situation probably hasn’t been in the industry for a long time. Even the most well-screened tenants can be late in paying their rent for several reasons. (For example, an unexpected surprise, like a global pandemic that shuts down the economy.)
4. How do you take care of tenant complaints? Here again, if he or she or the team doesn’t have a lot of experience in handling tenant complaints, that should make you uneasy. It should also serve as a warning. The individual or team should have a proven method or set of strategies for dealing with renter complaints.

Brevard County Recreation

Brevard County recreation comes in many forms and there’s something for everyone and every age. Better still, since the weather is warm almost every day of the year, outdoor activities are accessible practically anytime. (Even on rainy days, there’s also quite a bit to do indoors. So, read on to learn more about the most enjoyable Brevard County recreation activities and what you need to know.

Brevard County recreation boasts several fun things to see and do. What’s more, the location is likewise a great contribution to the overall experience. Out of the sixty-seven counties in the Sunshine State, Brevard County is the tenth most populous. Situated on the central east coast of the peninsula, its county seat is Titusville, and it is part of the Space Coast -- a name given to the area because of NASA’s large presence.

Of course, being located where it is, Brevard County is likewise known for its beaches, surfing, fishing, kayaking, sunrises, and sunsets. Equally as popular are picnics on the beach, strolls in the sand, and just enjoying the natural landscape of the area. But, there’s plenty more Brevard County recreation, such as the following:

1. Merritt Island National Wildlife Refuge. This incredible space spans an astounding 140,000 acres and is home to many species of wildlife. It’s a wonderful way to spend a day and to get up close and personal with wild Florida.
2. Brevard Zoo. This 75-acre facility is home to over nine hundred species of animals from Florida, South America, Africa, Asia, and Australia. There’s a kangaroo exhibit, a jaguar exhibit, as well a komodo dragon, and a white rhino.
3.  Space Coast Stadium. For those who love America’s favorite pastime, baseball, this is an ideal spot to visit in Brevard County.
4.  Treetop Trek. Located in Melbourne, this is an exciting zipline experience that’s not for the faint of heart. For those seeking thrills, this is definitely a must-do in Brevard County.
5.  Kennedy Space Center Visitor Complex. If there’s one destination in Brevard County that visitors simply cannot mix, it’s the Kennedy Space Center Visitor Complex on Merritt Island. It’s not only home to the nearby launch facility, it’s also home to historic spacecraft and memorabilia, along with two IMAX theaters, and some very fascinating tours.

Brevard County recreation also includes such experiences as Sebastian Inlet State Park, LaPorte Farms, Black Point Wildlife Drive, and much, much more.

Renting Your Home? Why You Need Professional Management

Renting a house? You need a professional management service, and there are several reasons why. First and foremost, if you've never done the job of a landlord, it's a lot more time-consuming, stressful, and even confusing than you would ever imagine. While you dream of collecting rent money month after month, the reality includes the difficult work of carefully screening prospective tenants, dealing with routine maintenance and emergency issues, having to comply with state and federal laws at all times, chasing down late rents when necessary, and perhaps the worst of all, eviction. Read on to learn more about why it's so important to have a professional management service when renting a property.

Renting any residential property comes with a whole host of responsibilities. It begins with getting the property in shovel condition to attract potential renters, marketing it to the right audience, showing it at their convenience, and being able to accommodate special situations. But, that's not all. There will be maintenance issues during the renter's leasing., Not to mention, emergency situations. The heater is some of the most compelling reasons to hire a property Management service when renting out a house:

1.  Showing preparation. Just like selling a home, the property must be in showable condition. That is to say, it ought to look like a model home that's on the market for sale. If you don't plan on providing furniture. It will need to be in its most tidy condition.
2. Marketing. When you're leasing a property, you obviously must advertise that it's for rent. Of course, it is extremely important that your marketing message targets the right group. For instance, if the home is in an HOA, which will have rules about residents. That needs to be taken into consideration.
3. Tenant screening. Not only do you have to Market to the right group of individuals, but you must also be able to perform necessary due diligence and carefully screen applicants. Obviously, this is to protect your interest and your property.
4. Maintenance, replacements, and repairs. Make no mistake about it, during the rental period there will be times when repairs are necessary or something needs to be replaced, like a dishwasher, water heater, AC unit, or even something as large and expensive as the roof.
5.  Tenant management. Renting a property means more than keeping it up with regular maintenance. It also means having to manage the tenants, which can be quite problematic at times. And, as mentioned above, the need to evict, is a whole process unto itself.

Brevard County Housing Rental Market

The Brevard County housing rental market is currently favoring sellers, with prices having risen substantially over the course of the past year. That too pushes up rental rates, which will continue to increase (though by a little incrementally) into next year. However, there are some potentially negative factors that might play a significant role in rental occupancy rates. Moreover, the overall housing market remains very active, but that trend might change because of those same factors. Read on to learn more about the Brevard County rental market and what you need to know for this year.

The Brevard County housing rental market might undergo substantial changes in the next few to several months. This is due to three main factors: the economic climate, interest rates, and inflation. All three of these elements are currently experiencing their own sets of dynamics, with the first growing incrementally, the second at near all-time lows, and the third, on the rise.

In a normal and balanced real estate market, rentals in Brevard County should produce an 8% return cash on cash. This is after paying normal carry costs and expenses, such as routine maintenance and management costs. Currently, with so many new people relocating to the state, from the west coast and Northeast, as well as the midwest, most housing markets in Florida are in a seller's market. That includes Brevard County where homes are selling on average at just under 1.23% of listing prices. In other words, Holmes is selling at approximately 98% of their listing prices, with home values increasing by 4.4% from the year prior. This results in a median listing price of $239,000 across the county.

Since Florida is experiencing such significant population growth, due to the ongoing Exodus from other states, the rental market should stay relatively hot over the next few to several months. As individuals and families relocate from elsewhere, not all will be in a position to purchase homes, and that will supplement the need for rentals. Additionally, various corporations are in the process of relocating their headquarters to the Sunshine State, which also increases the prospects of more renters.

With inflation on the rise, that increases residents' daily expenses which might keep them in rental properties longer. Conversely, near-historic low-interest rates might also prompt renters into buying in order to lock in a stable housing cost. Overall, the Brevard County rental market should experience positive trends throughout the course of the year.

Palm Bay Real Estate Forecast 2021

The Palm Bay real estate forecast for 2021 should provide an active market. Currently, the Palm Bay residential real estate market favors sellers over buyers. However, this dynamic could very well change in the near future or in the coming months as conditions change with restrictions lost in the Sunshine State. Read on to learn more about the Palm Bay residential real estate market and what to possibly expect in 2021.

The Palm Bay real estate forecast for 2021 looks promising at this time. But, conditions could change quickly, depending on the continued absence or reintroduction of distressed properties. However, the present home values in Palm Bay are strong and likely on the way up. For instance, the median listing price in the community is now 16.6% higher than it was just a year ago.

Presently, the median listing price for a single-family home in Palm Bay stands at $174,900, with a median listing price per square foot of $140. Meanwhile, the median sales price in the Palm Bay area is $185,000. This means properties are selling above their asking price. However, the sale-to-list price ratio was 98.56% in February of this year. So, homes are now selling for 1.44% under the listing price. Still, that’s a strong market.

Another statistic that demonstrates a relatively healthy market is the average days on the market or DOM. In hot markets, this number is generally under thirty days. In Palm Bay, the median days on the market are 70 days or just over two months. By comparison, the median days on the market in April of 2018 was just over forty days, leaping to a high of around ninety days in April of 2019, but has stayed around the same -- seventy days -- since October of last year.

Although most of these figures indicate a strong and healthy real estate market, the continued absence of distressed properties, which include foreclosures and short sales, keeps the market stable. But, if moratoriums on foreclosures and short sales are lifted, any flood of distressed properties would have a negative impact on the residential real estate market. However, if distressed properties are slowly reintroduced, the market would absorb them and they would not greatly interrupt the market’s stability.

Right now, the Palm Bay real estate market is active and healthy and that should not change in the near term.

Melbourne Florida Real Estate Forecast 2021

The Melbourne residential real estate market forecast for 2021 is estimated to bring a substantial increase to home values. This, is after already experiencing an impressive rise in home prices through the 2020 calendar year. However, the forecast isn’t totally complete, due to the lack of one key element that remains an unknown quantity to this point. Overall, health is supposed to be good but exactly how this undetermined factor will play a role cannot yet be quantified. Read on to learn more about the Melbourne residential real estate market forecast for 2021.

The Melbourne residential real estate market forecast for 2021 is expected to continue its upward trend that’s been occurring in earnest since February 2013. (In fact, the only real measurable dip or decline that’s happened in the Melbourne residential real estate market occurred back sometime between the summer and winter of 2011.) From the beginning of 2012 all the way through 2020, home values have steadily increased.

In fact, residential real property prices have gone from $131k in October 2012 to $160K in December of 2014, to $198k in December 2016, and finally hitting $235k by December 2019, which represents an overall rise of $104k in seven years. Then during the previous twelve months of 2020, the typical home value of homes in Melbourne rose by 8.3% to hit nearly $254,900 and is expected to increase by 3.7% over the course of 2021 to reach about $264,330+ by the end of the year.

All of this constitutes really good news for homeowners, sellers, and current property investors with real property assets in Melbourne. It’s also good news for buyers who can benefit from affordable prices with near-historic low-interest rates. If buyers jump into the market early on, they’ll get in at a more affordable price and enjoy strong appreciation.

However, almost all of this is predicated on current circumstances, which do not include the presence of distressed properties, which consist of foreclosures and short sales. Due to the onset of the global pandemic and subsequent shutdowns, many jurisdictions suspended or placed a moratorium on legal proceedings, which include foreclosures. Therefore, there is not enough to reach a statistical measurement. This means the reintroduction of distressed properties could have a negative impact on the overall residential real estate market here in Melbourne and communities throughout the state of Florida.

Brevard County Florida Cost Of Living 2021

The Brevard County Florida cost of living in 2021 is one that’s surprising to many because it features some anomalies. (For instance, the cost of housing -- which is usually the single largest expense -- is not in Brevard County.) What’s more, the cost of living in Brevard County is one of the most affordable in the Sunshine State and even rivals many other parts of the country. So, read on to learn more about the Brevard County Florida cost of living in 2021.

The Brevard County Florida cost of living in 2021 can be broken down into six categories: food, healthcare, housing, miscellaneous expenses, transportation, and utilities. For comparison's sake, the national average is scored with a baseline of 100, meaning anything above is more expensive, while anything below is less expensive. Here’s how the cost of living breaks down in Brevard County in 2021:

1. Transportation. The cost of getting around in Brevard County is very affordable and more so than it is in the rest of the state and most of the country. The cost of transportation in Brevard County scores 88, so it beats out both the state and national averages.
2. Housing. Perhaps the most surprising thing about the cost of living in Brevard County is that housing costs substantially less than it does elsewhere. Right now, the median home price in Brevard County stands at $210,700. By comparison, the statewide average is $237,100 and the countrywide average is $231,200.
3.  Healthcare. The cost of healthcare scores 94 in Brevard County, which is less than the state average of 98 and the national average of 100. So, healthcare is more affordable here.
4. Utilities. In Brevard County, the cost of utilities is also under the state and national averages, with a score of 97, compared to 102 and 100, respectively.
5. Miscellaneous. Odds and ends are also very affordable in Brevard County, with a score of 99 to 100, which is nearly equal to the state average of 97 and the national average of 100.
6.  Groceries. The cost of food in Brevard County is the only expense that is more than the national average, with a score of 101. But, it’s less than the state average of 103.

As you can plainly see, the cost of living in Brevard County is very affordable in every facet, making it one of the best places to live in the entire country.

Brevard County Real Estate Forecast 2021

The Brevard County residential real estate forecast for 2021 looks good. Considered one of the best places to live in the Sunshine State, Brevard County is situated on the central east coast of the Florida peninsula. Currently, it’s home to nearly 602,000 residents and includes several communities, including Titusville and Melbourne. Home to the Kennedy Space Center, it’s only about an hour east of Orlando. Plus, it’s on the verge of enjoying one of the best years with its housing market. So, read on to learn more about the Brevard County real estate forecast for 2021.

The Brevard County residential real estate forecast for 2021 is expected to post steep gains in values. Right now, the average home value in Titusville stands at $187,627. Meanwhile, over in Melbourne, the average home value comes in at $248,064. Both cities -- as well as most of the other communities in the county -- have experienced large increases in home values.

Titusville, the county seat of Brevard County, has gained 8.2% in housing values over the course of the past year. In Melbourne, a similar but more pronounced phenomenon occurred, with a 10.3% increase in property values over the same period. Industry experts and economists alike believe both cities will experience continued growth, with 10.7% in Titusville, and 10.2% in Melbourne.

Both locations shared similar trajectories over the course of the last 9 nine years. Since 2011, home values in both communities have increased substantially. In Titusville, home prices have gone from an approximate average of $95,000 to $100,000, up to nearly $187,700. During the same near-decade period, home prices have gone from $140,000 in 2011 to just over $248,000 this year.

This marks the end of the Great Recession and housing crash and its clear recovery. Presently, there are also very few distressed properties available, which include foreclosed homes and short sales. This is significant because both types of properties drive down the values of non-distressed houses.

If the predictions come true over the next twelve months, this will be a big benefit for homeowners and will also be advantageous for home sellers. However, it could pose a problem for home buyers entering the market in 2021. So, buyers should move quickly to take advantage of lower prices and historically low-interest rates that are available right now.

Investment Advantages Of Owning A Rental Home

The investment advantages of owning a rental home can’t be underestimated. It’s one of the most powerful and effective ways to build real wealth. Over time, the rental property becomes more and more lucrative. There are several reasons for this, including appreciation, and general stability, as well as others. so, read on to learn more about the investment benefits of owning a rental property.

The investment advantages of owning a rental house begin with a simple historical fact. That is, real property values trend upward over time, and have proven one of the best-performing and strongest investments available. Although there are occasional and periodic dips in the housing sector, these are relatively small and mostly inconsequential over the long term. This is why savvy investors choose a healthy mix of real estate and stocks or mutual funds.

When you own a rental home, you own something of real value. This, of course, is a given. But it means a lot more than you might initially think. Here are the biggest advantages of owning a rental property:

1. It's a real asset. We tend to gloss over financial terms, particularly when they are so commonly used. However, the word asset is a very powerful one, because it means it has inherent value. Real estate is an asset that not only has value, but also gains more and more over the long term, making it worth more substantial over time. That is a key factor in building wealth.
2.  It creates a passive income. One of the greatest things about owning a rental house is the fact that it can generate extra income with very minimal effort. The most successful real estate investors understand this and use it to their advantage. That's why the majority rely on a professional management team to maximize their return on investment.
3.  It can be used as leverage. Another wonderful thing about owning a rental property is the fact that it can serve as leverage, or collateral, to acquire more. This can help to expand your real estate portfolio, and thereby multiply the amount of passive income.

Lastly, it can always be sold. The most experienced investors hold their real property units for extended amounts of time, enough to gain substantial appreciation. They then sell their rental properties and use the proceeds for future investments, including real estate and mutual funds. This strategy maximizes their return on investment and allows them to amass a very valuable portfolio.

Melbourne Florida Cost of Living

The Melbourne Florida cost of living is one of the most affordable in the Sunshine State. Here, residents enjoy relatively low property taxes. And, there’s no state income tax, which makes it even more affordable. What’s more, this is one of the best locations to live on the subtropical peninsula. So, read on to learn more about the cost of living right here in Melbourne Florida.

About Melbourne Florida

Located on the east coast of central Florida, Melbourne is perhaps best known for its arts and culture, along with its many tasty eateries. On the east, it runs along the Indian River Lagoon, with a small area on a barrier island that separates the mainland from the Atlantic Ocean. It’s a fairly small community, with approximately 83,000 residents.

First settled in 1867, it was later officially incorporated in December of 1888, about twenty-one years later. Today, it’s home to such destinations as the Eau Gallie Arts District, the Foosaner Art Museum, the Rossetter House Museum & Gardens, along with the Howard E. Futch Memorial Park at Paradise Beach and nearby Brevard Zoo.

Now, let’s get to the cost of living in Melbourne, Florida. To demonstrate costs, we’ll use a score of 100 as a national baseline average. That means anything over 100 is more expensive, while anything under is less expensive. Here’s a quick look over the Melbourne cost of living:

1. Transportation. To get around the community of Melbourne, the cost is very affordable, with a score of just over 95. That is more affordable than the national average and it’s much cheaper than the statewide score of 130.
2.  Food. Buying groceries in Melbourne is also less expensive than the national and state scores, coming in at just under 97. Because food is a huge part of people’s budgets, that is some good news.
3. Healthcare. Speaking of good news here’s some more -- the cost of healthcare in Melbourne Florida is also just under 97, which is less expensive than both the statewide average and the national figure.
4.  Housing. Here’s the one expense that makes too many locations unaffordable. But, in Melbourne Florida, it’s quite affordable, with a score of just a tad over 97. That’s better than the national average of 100 and well below the statewide average of about 119.
5.  Utilities. Here again, Melbourne is less expensive than the national average and the statewide average, with a score of a bit over 97. Meanwhile, miscellaneous expenses score a tad under 99 in Melbourne.

Tax Advantages of Owning a Vacation Rental in Brevard County

The tax advantages of owning a vacation rental in Brevard County can make real estate investing all the more attractive for potential owners. For those on the fence about buying a rental property, these can provide a bit more incentive to move forward. Sure, creating a passive income (or semi-passive income for DIY owner-managers) is always a good thing. But, being able to make it more lucrative surely helps to sweeten the deal. Read on to learn more about the tax advantages of owning a vacation rental in Brevard County.

The tax benefits of owning a vacation rental in Brevard County can’t be understated because these are essential to making it more profitable. Although the lease should be enough to turn a profit, the tax breaks will be substantial, particularly to help offset vacancy periods.

(It’s important to keep in mind that for just about any real estate investment, the real money is made at the buy. In other words, getting a really good deal upfront is essential to delivering a solid return on investment over the lifetime of the holding.)

Now, let’s get onto the tax benefits of owning a vacation rental in Brevard County and what you might expect to gain:

1. Carry costs. Carry costs or operating expenses usually enjoy various tax breaks. These can include but are not necessarily limited to insurance, some mortgage costs, repairs, maintenance, replacements, property taxes, and more.
2. Income taxes. If you live in the state of Florida, there’s no state income tax, which means you’ll be able to keep more of the rental money. And, that can add up to a lot, especially over the course of several years.
3. Property taxes. Brevard County isn’t the most expensive place to live in the country (by a long shot). So, you won’t have to fork over more money every year.

This, not to mention the fact that you can depreciate your rental property on your taxes. Of course, it’s absolutely essential that you consult an experienced and licensed tax professional in order to get the best advice and take advantage of any and all available tax breaks on your vacation rental property in Brevard County.

And, don’t forget, it’s possible to use your vacation rental property as leverage for future real estate investments in the future to increase your portfolio and build your net worth over time.

Health Advantages of Living in Melbourne Florida

Health advantages of living in Melbourne Florida include some obvious items, along with some headscratchers. But, when put into context, makes a lot of sense. It’s not just the fact there’s a lot less pollution -- as there is in big metropolitan cities in the northeast and on the west coast -- but several elements that make it a better place to call home. Read on to learn more about the health benefits of living in Melbourne Florida.

About Melbourne Florida

Melbourne is a city that’s located in Brevard County, which sits to the north of Palm Bay, on the Indian River Lagoon, and stretches partly across the shores of the Atlantic Ocean. It is home to the Eau Gallie Arts District, the Rossetter House Museum & Gardens, and Howard E. Futch Memorial Park at Paradise Beach.

The cost of living in Melbourne Florida is very affordable. In fact, the median home cost in Melbourne is about $195,000, as opposed to the statewide average of approximately $237,100. Plus, day-to-day expenses are also less costly in Melbourne than they are across the Sunshine State.

Now, let’s get on to the health benefits of living in Melbourne Florida. We’ll list the top and most advantageous ones, which include the following:

1. Weather. With a long, warm summer, super mild winters, and spectacular spring and fall seasons, there’s nearly always sunshine. That means there are no long, grey, and dreary days. That translates into the absence of seasonal affective disorder or SAD or winter blues.
2. Recreation. Since it’s sunny so much, there’s always ample opportunity to get outdoors (or stay indoors) and get active. The more activity, the better for your overall health. You can walk, bike, kayak, hike, play golf and/or tennis, and do a whole lot just about every single day of the year.
3. Lifestyle. Another health benefit is the lifestyle here. It’s basically a tropical island vibe, where shorts and sandals are everyday wear. And, it’s very laid back, which means it doesn’t have that hectic, quick pace of a big city.
4. Access. There’s plenty of access to healthcare, whether it's for a routine checkup, advice about more healthy choices, or for a health issue.
5. Location. That’s right, location. Because Melbourne is a relatively small community, there are no big city stress elements, like huge traffic jams, loud noises, crowded streets and stores, and other factors that cause stress and anxiety.

Advantages of Owning a Rental in Brevard County Florida

The advantages of owning a home rental in Brevard County Florida are too numerous to list. But, there are most definitely key points one simply can not afford to miss. (Like the idyllic weather and location, just to name a couple.) However, it’s not just about the financial benefit. There are more positives to gain when you own a rental property in Brevard County or elsewhere on the Florida peninsula.

The advantages of owning a home rental in Brevard County Florida start with the fact that the state grows by an average of one thousand new residents per day. (That’s right, about 1,000 people relocate to the Sunshine State on a daily basis and need somewhere to live.) While this is certainly an impressive fact, it doesn’t lay out all the good stuff about owning a rental house in Brevard County. Here are some more key benefits you can’t afford to miss:

1. It creates a passive income. You've no doubt heard this before, and it's because it is a proven method for earning more money with little to no work on your part. it's smart to hire a property management service, which will charge approximately 10 percent. That's money well spent and makes for a strong return on investment.
2. It helps to add to your wealth. When you own real property, be it residential or commercial, it adds to your overall net worth. Plus, as time goes on, it will only appreciate in value, which is precisely what makes it an ideal investment.
3.  It offers several tax advantages. You can write off several expenses, including insurance, maintenance, improvements, repairs, and more carry costs. (Plus, there's no state income tax in the state of Florida, which means those earnings aren't taxed twice.)
4. It can be used as leverage later on. Another benefit is the fact that it can be used as leverage for the purchase of a more real estate in the future.
5.  It serves as a dedicated vacation home. When you want to get away for a while, now you'll have a dedicated place to stay, and won't have to hunt down proper accommodations. It's actually a true home away from home, and it's available at any time you want.

As you can clearly see, there are more than a few compelling reasons to own a rental home in Brevard County Florida.

Melbourne Florida Schools

Melbourne Florida schools are some of the best in the Sunshine State. Here, there are several choices, including public schools, private, and other options. Located in Brevard County, situated on the east coast of the peninsula, Melbourne has twenty-eight high schools, thirty-four middle schools, forty-one elementary schools, and seventy-one preschools. Among them, there are also seventy-five private schools. Read on to learn more about Melbourne Florida schools.

Melbourne Florida schools offer quite a bit of variety and are located throughout the area, including the Space Coast.

The top elementary schools in the Melbourne metropolitan area are:

Quest Elementary School, Suntree Elementary School, Longleaf Elementary School, and Viera Charter School.

The best middle schools in Melbourne are Westshore Junior/Senior High School, Viera Charter School, and Lyndon B. Johnson Middle School. Meanwhile, the most popular high schools in Melbourne are Westshore Junior/Senior High School, Viera High School, and Melbourne Senior High School.

The Brevard public school system is one of the largest in the Sunshine State. In fact, it’s the ninth-largest on the peninsula and the forty-ninth in the country. It has about 9,300+ staff members who serve more than 73,000 students.

Most of the schools in Melbourne have zero-tolerance bullying policies and actively promote self-worth and self-discipline. The student-to-teacher ratio differs from one school to another but the institutions try to limit the number of students as much as possible.

For higher education, there are two colleges in the area: the Florida Institute of Technology and Eastern Florida State College. (Of course, there are more around the community and the county, including the University of Central Florida, Seminole State College, Rollins College, and more.)

Like in other parts of the country and throughout the state of Florida, homeschooling is also an option in Melbourne. Or, for parents who prefer an alternative, there are several charter schools in the area, as well as the ability to use a combination.

As you can see, there are plenty of options for school-aged children in Melbourne and beyond. Parents should do their homework and learn which is the best fit for their kids. Most school administrators are happy to speak with parents and answer any questions about their educational facilities. For those relocating to the area, it’s also helpful to speak with a local and experienced real estate professional.

Brevard County Recreation

Brevard County Recreation offers just about something for everyone. Regardless of what you most like to do to stay active -- indoors or outdoors -- there are probably at least a few pursuits you can enjoy in Brevard County. And, due to the fact the area boasts plenty of sunshine and warm weather, the choices are practically endless. Read on to learn more about Brevard County recreation.

Brevard County recreation spans in variety from low-impact cardio to heart-pounding excitement. Here, you can boat, swim, fish, run, sail, paddleboard, golf, play tennis, visit a nature park or museum, and so much more.

Located in the east-central portion of the Florida mainland peninsula, Brevard county spans a total of 1,557 square miles in size, with Titusville being its seat. Currently,  Brevard County has approximately 601,900+ residents and about 229,692 households, making it the tenth-largest most populous county in the Sunshine State out of sixty-seven.

With such a large population, it’s no wonder that Brevard County has plenty of things to see and do which are available practically every day of the year. So, here’s a quick look at just some of the many recreational activities that residents and visitors alike can enjoy in Brevard County Florida:

1. Campgrounds. For those who love to be immersed in nature, there are at least three campgrounds: Long Point Park Campground, Manatee Hammock Campground, and Wickham Park Campground.
2. Community centers. Brevard County also has several community centers, which offer a wide variety of recreational activities: Cuyler Community Center, Isaac Campbell, Sr. Community Center, Port St. John Community Center, Sandrift Community Center, and Walter Butler Community Center at Bernice G. Jackson Park.
3. Golf. For those who love life on the links, there are three popular golf courses in Brevard County, including The Habitat at Valkaria and Spessard Holland at Melbourne Beach, Spessard Holland Golf Course, as well as The Habitat Golf Course.
4. County parks. There are many county parks in the Brevard area, which offer all sorts of different recreational opportunities, including Spessard Holland South Beach Park, Ryckman Park, Paradise Beach, and Park, Juan Ponce DeLeon Park, Lori Wilson Park, Space View Park, Manatee Sanctuary Park, and a whole lot more.

Of course, Brevard County is also home to the Air Force Space & Missile Museum, The American Police Hall of Fame and Museum, The American Muscle Car Museum, the American Space Museum and Space Walk of Fame, and the Museum of History and Natural Science, just to name a few of many more.

Brevard County Real Estate Forecast 2020

The Brevard County residential real estate forecast for 2020 is one that’s pretty active and will probably enjoy a strong performance over the course of the next several months. In fact, if current trends and history are any real indicators, the residential real estate market in Brevard County will not only stay stable and active but increase through 2020 and perhaps, well into next year. Read on to learn more about the Brevard County residential real estate forecast for 2020 and what’s most likely to unfold in the not-too-distant future.

The Brevard County residential real estate forecast for 2020 currently looks to bring the market closer to an outright sellers’ market. Right now, it’s considered a sellers’ market, but, with falling interest rates, that could well change over the next few months.

At this time, the median home value in the Brevard residential real estate market stands at $232,285. This represents an increase of nearly 3 percent over the past twelve months. Presently, real estate industry experts and economists alike believe that home values will rise even further, by about 4 percent over the course of 2020.

Meanwhile, the median list price in the market is now $120 per square foot, which is the same as the overall metro area. The median list price in Brevard County now stands at $259,900. However, the median selling price in the area is $229,200.

Right now, the median rental rate in Brevard County is $1,495 per month, which matches the median rental rate for the larger Palm Bay-Melbourne-Titusville Metro area.

As for distressed properties, meaning short sales and foreclosures, which play a negative role in non-distressed properties, these represent only a small fraction. Currently, the mortgage delinquency rate in the area is just 1.1 percent, which is also the same as the national average. Meanwhile, the percentage of homes with negative equity or are underwater stands at 4.9 percent.

With the expected rise in home values and the current strength of the local residential real estate market, Brevard County will likely experience more robust activity that could lead to an unbalanced market that heavily favors sellers. But, with falling interest rates, homeowners have the option to refinance and remodel instead of selling. Additionally, this will entice more people to enter the homebuying process.

With current and historical trends underway, Brevard County will enjoy a strong performance through 2020.

Palm Bay Real Estate Forecast 2020

The Palm Bay residential real estate forecast for 2020 has a very bright outlook. In fact, it's probably one of the best in the entire Sunshine State, even in the country. That's due to the fact the market is nearly at perfect parody between buyers and sellers and home values have risen steadily but not entered into an unsustainable bubble. Read on to learn more about the Palm Bay residential real estate forecast for this year.

The Palm Bay real estate market is one that offers a lot for an inexpensive price. Here, home prices or quite affordable, and it still has all of the nests that Florida living has to offer.

Situated on the east coast of the peninsula, partially bordering the Atlantic Ocean, Palm Bay is a great community, offering a combination of urban, suburban, and rural environments. Here, residents enjoy many different types of recreational opportunities, as well as shopping, dining, live entertainment, and much more.

Currently, Palm Bay is considered a balanced market. This means that neither buyers nor sellers have a distinct advantage in the market, putting them on nearly equal footing.

Located to the south of Melbourne and a bit further south of Port Canaveral and Cocoa Beach, Palm Bay spans nearly 69 square miles in size, with a population of just over 114,000 residents.

Right now, the median home value in Palm Bay is $187,889. That's certainly under the national figure, which is in the low to mid $200s.

Residential home values in Palm Bay have risen 3.6 percent over the course of the past year. And, industry experts and economists predict home values to increase by another 4.7 percent over the course of the next twelve months.

The median list price in Palm Bay per square foot currently stands at $94. While the overall median list or asking price is $193,950. Presently, the median selling price in Palm Bay is $181,100.

The median rent price in Palm Bay is $1,375, just a tad under the Palm Bay-Melbourne-Titusville Metro median of $1,500.

The delinquent mortgage rate in Palm Bay is now at 1.3 percent -- slightly lower than the national average of 1.1 percent. At this time, about 5.2 percent of all Palm Bay homeowners are underwater in their mortgages, higher than the Palm Bay-Melbourne-Titusville Metro average of 4.9 percent.

Brevard County Tourist Attractions

Brevard County tourist attractions range from enjoying the beach to seeing exotic animals up close, to visiting outer space. (Okay, you won’t actually go into outer space, but you can learn and experience a lot about our solar system and universe.) Plus, there’s a lot more to see and do in Brevard County. So, let’s take a quick look at what there is to see and do in Brevard County, Florida.

Brevard County tourist attractions are some of the best in the country. In fact, the area is one of the most visited in the entire nation. That’s due to what’s here and its natural geography.

What’s more, Brevard County is home to Titusville, which is the heart of the Space Coast. Located along the Atlantic Ocean on the east coast of the Florida peninsula, Brevard County spans an impressive 1,557 square miles in size and has a population of more than 596,800+ residents. The county was founded in March of 1844 and is a favorite tourist destination for people from all over the country.

So, what is there to see and do in Brevard County? What are the best tourist attractions in Brevard County that are a must? Here are the top destinations to check out:

1. Cocoa Beach. Cocoa Beach is one of the best places in the area to visit. The pier is a favorite attraction on Cocoa Beach. But, that’s not all. Here, you’ll enjoy sunbathing, walks in the sand, and much more. There’s usually live entertainment at the hotels along the beach and of course, you can always get into the water.
2. Brevard Zoo. This natural getaway spans 75 acres in size and is home to over 900 hundred different animals from several locations, including Florida natives, South America, Asia, Africa, and even as far away as Australia.
3. Valiant Air Command Warbird Museum. Located at the Space Coast Regional Airport in Brevard County, this attraction is huge, being housed in a 30,000-square-foot hangar. It’s very impressive to see the aircraft and to learn about the history of aviation.
4. Jetty Park. Located in Port Canaveral, this is where you’ll find a fishing pier and a campground. It’s right next to numerous cruise ship terminals and has boat ramps, along with an exploration tower.

Finally, Brevard County is home to the NASA Kennedy Space Center Visitor Complex. It’s a remarkable place to visit, learn, and experience the wonders of outer space and travel and exploration.

Importance of Using a Professional to Manage Your Rental

The importance of using a professional to manage your rental simply can't be understated. In fact, too many property owners make this mistake and seriously lined up regretting their decisions. Why? Because unless you have years of experience in this particular field of real estate, there are just too many unknowns. That is to say, numerous pitfalls that you are not expecting but we'll have to deal with, regardless if you want to or not. Read on to learn more about the importance of using a real estate professional to manage your rental.

There's simply no question it is very important to use an experienced pro to manage your rental property, no matter if it's your first time, or you have some experience in the world of residential real estate. Here are a few compelling reasons why it is so very critical to have a professional manage your residential property rental:

1. It's a full-time job, regardless of what you might think. This very notion is what gets so many first-time property investors in over their heads. They mistakenly think that managing a rental property is something that takes little to no effort, and only a couple a few hours of their time. Nothing could be further from the truth. It requires a substantial amount of time and has heard many more hours than you probably believe it does.
2. It is well worth the investment. That's right, just like owning a rental property is an investment, so to his having a professional manager for you. Of course, it seems less expensive on paper to handle the management on your own, but in practice, it simply won't work out in a real-life situation. Every successful investment property owner knows and appreciates having a professional manager handle their rentals. It's their secret sauce in having income-producing properties.
3. It's a very difficult job. sure, it sounds great to buy a rental home, lease it out, and just let the checks roll in. But that's not indicative of reality. You will face vacancy periods, eviction situations, emergency repairs, tenant screening, property showings, late rents, and a whole host of other undesirable scenarios.

What's more, this isn't even an exhaustive list. It's only a sneak peek into the world of rental property management. This is why it is so very important to have a professional manage your rental. The benefits far outweigh any monetary cost in the end because it is his or her job to make sure it is a lucrative investment for you.

Melbourne Real Estate Forecast 2020

The Melbourne real estate market forecast for 2020 looks like a fairly bright one. Based on the trends experienced over the course of the past year and what’s most likely to repeat as it does most every year, at the start of the new year, the community of Melbourne will probably have a strong year in the residential real estate market. With all that’s known and what’s most likely to occur, there are good things on the horizon. Read on to learn more about the Melbourne real estate market forecast for 2020.

The Melbourne real estate market forecast for 2020 is already off to a strong start, thanks to the trends that have already unfolded in the past several months.

Located in the central portion of the state of Florida, along the east coast of the peninsula beside the Atlantic Ocean, the town of Melbourne was first settled in 1867 and incorporated in 1888. Spanning 45+ square miles in size, with a population of about 82,000+ residents, Melbourne is one of the more affordable places to live in the Sunshine State.

Enjoying well over 250 days of sunshine and having super mild winters, warm and balmy summers, and spectacular fall and spring seasons, Melbourne definitely delivers on this front. But, it also boasts a relatively inexpensive real estate market.

Right now, the median home value in Melbourne stands at $194,000. Over the course of the past year, property values have risen by approximately 3.6 percent. Meanwhile, industry experts predict house values will increase by about 3.3 percent over the course of the next year.

The median list price per square foot in Melbourne stands at $166, which is slightly less expensive than the Palm Bay-Melbourne-Titusville Metro average of $117. Meanwhile, the median list price is $273,000. Although, the median selling price is $214,800. At present, the median rent price in Melbourne is $1,500 per month, which is at par with the overall metro area.

Currently, the balance between buyers and sellers is near parity, with the market slightly favoring sellers over buyers. This means it’s not really a sellers’ market but one that’s just about balance between the two.

Mortgage delinquency in Melbourne is lower than it is in the nation, currently at 0.8 percent, with the countrywide average at 1.1 percent. Also, the number of underwater homeowners stands at 4.8 percent.

Palm Bay Real Estate Forecast 2019-2020

The Palm Bay real estate forecast for 2019 through 2020 looks very good. In fact, if current trends hold up -- which all indications should continue -- the Palm Bay residential real estate market will be a strongly performing one through the course of the next year. Read on to learn more about the Palm Bay real estate forecast for 2019 through 2020.

The Palm Bay residential real estate forecast for 2019 through 2020 is already off to a great start. In fact, previous trends over the past few months clearly show this to be true.

Located on the central east coast of the Sunshine State in Brevard County, Florida, Palm Bay is a relatively small community, with a population of little over 103,000. (However, it is the largest city in the county by Populus.) It’s home to Turkey Creek and the Indian River. Plus, it partially runs along the shoreline of the Atlantic Ocean.

About the Palm Bay Residential Real Estate Market for 2019 and 2020

The Palm Bay residential real estate market has enjoyed steady growth over the course of the past year. It increased home values by about 4.5 percent over the past twelve months. Real estate professionals and economists alike predict it will continue to climb over the next year by nearly 3 percent.

At this time, the median price per square foot in the community of Palm Bay stands at a very affordable $94. This is lower than the larger Palm Bay-Melbourne-Titusville Metro average of $117 per square foot.

Currently, the median listing price for residential properties in Palm Bay is $194,9000. Meanwhile, the median selling price in the area is $181,900.

Presently, the median rent price in the city of Palm Bay comes in at $1,400 per month, lower than the overall metro number of $1,500.

Right now, the residential real estate market is a balanced one, with almost complete parity between buyers and sellers. This is very good news as it benefits both home sellers and home buyers, as well.

The mortgage delinquency rate in Palm Bay stands at 1.3 percent. This is just a tad higher than the national average of 1.1 percent. Additionally, the number of underwater properties in Palm Bay is 5.2 percent, while the metro figure is just slightly lower, at 4.9 percent.

As you can see, the Palm Bay real estate market is a terrific one.

Melbourne Florida Cost of Living

The Melbourne Florida cost of living is very affordable. In fact, it’s even less expensive than many of the more populated areas in the Sunshine State. But, it’s also one of the best places on the peninsula to call home. Read on to learn more about the cost of living in Melbourne Florida.

The Melbourne Florida cost of living is one of the least expensive places to live in the entire state that has all the modern conveniences.

Located to the southeast of Orlando on the east coast of the state, Melbourne is home to the Eau Gallie Arts District, on the Indian River Lagoon, Howard E. Futch Memorial Park, and the Brevard Zoo.

Settled around 1867 and incorporated as a village in December of 1888, Melbourne spans over 43 square miles and is home to approximately 82,800+ residents and nearly 39,000 households.

Now, as for the cost of living in Melbourne Florida, we’ll compare it by establishing a baseline of 100 for the national average. Meaning, that any category scoring below 100 is less expensive, while any category coming in over 100 is more expensive. Here’s a breakdown of the Melbourne Florida cost of living:

1. Transportation. The cost of getting around Melbourne comes in at a score of 95.3. That’s more affordable than the national amount and the state number of 130.
2. Groceries. For groceries, residents in Melbourne pay less than the national figure and the state number of 101.5, coming in at a score of 96.7. That’s good news, considering this is so fundamental to day-to-day living.
3. Healthcare. Here’s some more good news, the cost of healthcare in Melbourne is also below the national number, with a score of 96.8, a point below the statewide average.
4. Housing. Perhaps the best thing about living in Melbourne is the fact housing is very affordable. Melbourne scores 97.1 on the scale, which is below the national figure and well below the state of nearly 119.
5. Utilities. We all know utilities can eat up a good part of a household budget but in Melbourne, this expense is also less than the national number, with a score of 97.3 and under the state figure of 101.3.
6. Miscellaneous. Here again, Melbourne is less expensive, coming in at 98.7, also less than the national amount.

Overall, Melbourne scores 97, which is below the countrywide cost of living and also below the statewide cost of living, which scores 101.5.

Brevard County Florida Cost of Living

The Brevard County Florida cost of living is quite affordable. In fact, when compared to the national average numbers, it’s right in line and only slightly more expensive in just one out of six categories. So, let’s take a look at the Brevard County Florida cost of living and how it compares to the rest of the counties around the Sunshine State and to the countrywide figures.

The Brevard County Florida cost of living comes in at an overall rating or score of merely a tad more than all the national average sums.

Located on the east coast of the middle of the Florida peninsula, Brevard County makes up the Palm Bay–Melbourne–Titusville, FL Metropolitan Statistical Area. Its population is about 540,000 residents, making it the tenth-most populous county in the state of Florida. Brevard County is home to Titusville, Melbourne, Palm Bay, and Cocoa Beach. It runs along the Atlantic Ocean on its eastern barrier, with the Indian River and Banana River in between the mainland peninsula.

Now, let’s get onto the Brevard County Florida cost of living. For reference, we’ll use a baseline of 100 for the national number. So, anything above is more expensive, while anything below is less expensive. Here’s how the cost of living in Brevard County stacks up:

1. Food. The cost of groceries in Brevard County scores 96.7, compared to the state number of 101.5 and the countrywide figure of 100. This means the cost of groceries in Brevard County is less expensive than in the state and the nation.
2.  Healthcare. The cost of healthcare in Brevard County also comes in under the national and statewide figures, at 96.8. So, healthcare is more affordable in Brevard County.
3. Utilities. Also under the state and national numbers is the cost of utilities, which scores 97.2 in Brevard County, compared to 100 nationally and 101.3 statewide.
4. Transportation. Additionally, the cost of transportation in Brevard County is less expensive than it is across the country and much more than across the state of Florida. Transportation comes in at 99 in Brevard County, compared to the country average of 100 and the state number of 130.
5. Miscellaneous. For miscellaneous costs, Brevard County is nearly equal to the national number of 100 at 99.9 but just a tad more than the state figure of 96.9.

Housing is the only exception, with a score of 107.4 in Brevard County, which is still less than the state at 118.7.

Melbourne Florida Real Estate Forecast

The Melbourne Florida real estate forecast outlook predicts good things ahead. It also shows there’s a strong residential market here. But, there’s quite a bit more to learn about the Melbourne Florida real estate market and its outlook going forward into the future. Here’s a look at the current condition of the Melbourne Florida real estate market and what to expect over the next several months.

The Melbourne Florida real estate market is a healthy one and one that’s expected to show strong trends into the foreseeable future.

Located on the east coast of the Florida peninsula in the middle part of the state, just southeast of Orlando, it borders the Indian River. Just beyond its shoreline is a barrier island, with Melbourne Beach to the south and Patrick Airforce Base slightly to the north.

The weather here is wonderful, featuring warm, balmy summers, ultra-mild winters, and delightful spring and fall seasons. Given its geographic location and outstanding climate and weather, it’s no wonder Melbourne is such a desirable place to live.

Currently, the Melbourne Florida real estate market is a bit on the cool side. Meaning, it’s lending a slight margin of favorability to buyers over sellers. However, it’s still not far from a balanced market.

Presently, the median home value in Melbourne stands at just over $191,000. Over the course of the past year, home values in the area have risen by about 5.5 percent. Real estate industry experts and economists alike agree the local market will increase by nearly 2 percent over the course of the next year.

Meanwhile, the median list price per square foot in Melbourne stands at $117. That’s approximately equal to the Palm Bay-Melbourne-Titusville Metro average. At this time, the median price of homes listed is almost $272,000, with the median selling price being just over $225,000. Also, the median rent price in the community of Melbourne stands at $1,500, which is at par with the Palm Bay-Melbourne-Titusville Metro area.

Another good sign for the Melbourne Florida real estate market is there are relatively few distressed properties on the market or coming onto the market. (Distressed properties are short sales and foreclosures.) Right now, the mortgage delinquency rate is a mere 0.8 percent, while the national average is 1.1. So, it’s lower and that figure in Melbourne should not rise or fall much over the course of the next year.

As you can see, the Melbourne Florida real estate market is a healthy one and one that’s affordable and accessible.

Benefits of Owning a Vacation Rental in Brevard County Florida

There are several benefits of owning a vacation rental in Brevard County Florida. Among the top is location, adding to your net worth, and leverage for the acquisition of other properties. But, there are more benefits to owning a vacation rental in Brevard County Florida.

What might surprise you is just how affordable it is and what you can get out of a vacation property. So, let’s take a look at the top reasons to invest in a vacation rental in Brevard County Florida.

There are a few things to know about having a vacation rental property in Brevard County. It’s more than just owning real property, it’s about gaining a strategic asset that can really help to build wealth and provide another stream of income. Here are the biggest advantages of owning a vacation rental property in Brevard County Florida:

1. The location is king. You’ve no doubt heard the term real estate is all about three factors: location, location, and location. And, it’s undeniably true. Location means everything in real estate. After all, it’s why a small, mediocre home is worth so much more by the ocean than it is in a landlocked neighborhood near an industrial park. Fortunately, Brevard County has plenty to offer when it comes to location. Situated on the east coast of the peninsula, just to the southeast of Orlando, Brevard County is one of the best locations in the entire Sunshine State.
2. Acquisition costs are affordable. It’s a common misconception that owning a home in Florida, particularly in a place like Brevard County is just out of reach. Fortunately, this notion isn’t true. There are always several opportunities to buy a house here at a substantial discount. All it takes is a little patience and some strategic thinking. Sooner or later, you’ll come across properties in which you can buy below market value and turn anyone into a vacation rental house.
3. Appreciation and equity are great. Because Brevard County is in such a wonderful location, property values are strong, and have a long track record of good performance. That means an opportunity to get into the market and enjoy steady gains in value, building up a big amount of equity over time.
4. A dedicated place to stay. Of course, you can always take time to enjoy the property yourself. When it’s time to take a break and get away, you have a place just for you.

Palm Bay Florida Cost of Living

The Palm Bay Florida cost of living is one that is quite affordable. Located in Brevard County on the east coast of the peninsula just to the south of Melbourne and to the north of Vero Beach, Palm Bay is the largest city in the county.

It is also part of the Palm Bay−Melbourne−Titusville Metropolitan Statistical Area, with a population of approximately 110,000 residents and more than 45,000 households. So, let’s take a look at the Palm Bay cost of living and see how affordable it really is, especially compared to communities around the country.

The Palm Bay cost of living has some nice surprises in its details. With a baseline score of 100 for the nation and the state of Florida, Palm Bay rates at about 96.8 on the scale. Here’s a breakdown of the cost of living in Palm Bay:

1. Among the most affordable of all categories, the cost of housing in Palm Bay stands at 90.3, compared to the nationwide number of 100 and the statewide figure of 188.7. The median home cost in Palm Bay runs $177,700, with the state median home cost coming in at $225,200. For comparison, the national median home cost is $219,700.
2. The cost of food in Palm Bay scores 96.7, with the statewide number coming in at 101.15 and the countrywide figure at 100. This helps to make Palm Bay one of the more affordable places to live in the Sunshine State.
3. In Palm Bay, the cost of healthcare runs 96.8, below the statewide number of 97.8 and the national figure of 100.
4. There’s no question utilities play a substantial role in every household budget. Palm Bay residents enjoy a more affordable cost in their utilities, scoring 97.7, with the statewide number at 101.3 and the countrywide figure at 100.
5. For miscellaneous expenses, the cost in Palm Bay runs at 99.7, just above the state number of 96.9.
6. This is the only category that exceeds the national number but is still significantly less than the statewide figure. Transportation costs in Palm Bay come in at 103.5, with the state at 130 and the countrywide score of 100.

As you can see, Palm Bay is really one of the most affordable places to live. Combined with the low cost of living strong property values and terrific weather, makes it is a fantastic place to call home.

Advantages of Living in Melbourne Florida

The most attractive places to live, work and play in the Sunshine State.

Located on the east coast of the peninsula just to the southeast of Orlando and to the north of Vero Beach and Palm Bay, Melbourne is home to the Eau Gallie Arts District, Foosaner Art Museum, and Howard E. Futch Memorial Park. And, this community has a lot to offer.

There are many benefits to living in Melbourne. Not only because it’s in the state of Florida, but also because it has a lot for its residents (and visitors alike). Here in Melbourne and just beyond, which is also home to the Brevard Zoo and the Rossetter House Museum and Gardens, there are some really big advantages to living here:

1. Location, location, location. Okay, let’s begin with the obvious. There’s definitely more than one good reason about one thousand people move to the state of Florida a day. And, Melbourne really delivers when it comes to location. It’s just a short drive away from Orlando and south of the Space Coast, just to name two.
2.  Relatively low cost of living. The state of Florida boasts a relatively low cost of living. Here, groceries and many other days to day expenses are generally at parity or cost less. Property taxes are also quite less There are several big benefits of living in Melbourne Florida. In fact, it’s one of the more expensive than the northeast and west coast.
3. Wonderful weather and climate. Obviously, the weather here in Melbourne and the entire peninsula is nothing short of spectacular. Sure, the summer months are warm and balmy. But, winters are super mild, and spring and fall are absolutely delightful.
4.  No state income tax. Another benefit of living in Melbourne is taking advantage of some substantial tax savings. Here, there is no state income tax. Means, you keep a lot more of what you work so hard to earn.
5. Good schools and nearby conveniences. The community of Melbourne is known for its good schools. This makes it a great choice for families. Not to mention the fact there’s always easy access to shopping, dining, and day-to-day needs, like groceries and household items.
6. Strong property appreciation. Of course, being in the state of Florida means there’s a long-running history of strong property appreciation.

As you can plainly see, there are some very good reasons to live in Melbourne, Florida.

Renting Pros and Cons

Renting vs buying in 2019 means looking at both scenarios and understanding a few basic things about each. Should you rent or buy this year? And, why is one the right choice over the other? Usually, buying is the smarter way to go. In general, buying offers more than renting, including helping to build wealth. However, in some situations, renting, at least for the short term, makes more sense. So, let’s take a look at renting versus buying in 2019.

Renting vs Buying in 2019

This year, most experts predict the residential real estate market will cool off a bit. Of course, this isn’t true for every market, city, and town. But, in general, the real property market will slow slightly. And, that’s a good thing, especially for would-be home buyers. Believe it or not, it’s also a blessing in disguise for home sellers because it means more opportunities for them.

Should you rent in 2019 or should you jump into the real estate market and buy a home? Well, you’ve got to first look at your own personal position. Then, consider outside factors.

Renting means not having to worry about paying for repairs. It also means having the freedom to move on short notice. Also, renting is a great way to lower the cost of housing by leasing something that’s relatively inexpensive.

However, when you rent, you don’t own, which means your money is going strictly toward putting a roof over your head. That’s a loss because you’re not building equity and gaining property appreciation. Plus, the rent will likely increase every year, costing more and more.

Also, when you rent, you’re limited in what you can do to the property. You can’t customize a rental very much.

Buying Pros and Cons

If you buy a house, you do have to pay for repairs and routine maintenance. (But, you do most of the latter when you rent, anyway.) Owning means paying insurance and interest. Although, this amount is probably equal, a tad bit more, or even slightly less than renting a comparable place. Here are some other benefits of owning a home:

1. You build equity and gain appreciation. That’s great for your bottom line and it helps to build wealth over time.
2. You lock in the cost of housing and will eventually pay off the mortgage, further reducing your housing costs.
3. You’re able to make your home your own and customize it to your liking, wants, and needs.

Things To Do In Melbourne Florida

Things to do in Melbourne Florida range far and wide. Meaning, there’s something for everyone here. So, whether you’re briefly visiting for the first time, vacationing for a week, or considering relocating, Melbourne has a lot to offer.

Being in a subtropical climate, located on the east coast of Florida, just southeast of Orlando, it’s ideally situated on the peninsula of the Sunshine State. And, its location makes it one of the best places in the state to live, work, and play. Speaking of play, let’s look at some of the top things to do in Melbourne, Florida.T

Melbourne is located in Brevard County, boasting a population of 76,000+ people. Also known as Harbor City and Midway City, it was originally settled in 1867 and incorporated in December 1888.

Today, it’s a bustling area but still has deep ties to nature. So, here are some of the best things to see and do in Melbourne:

1. The Brevard Zoo. Home to more than 650 animals, this zoo boasts both a South American and African theme. It’s home to 22-acre wetlands and an expedition area that’s 10 acres in size. There’s even a zip line for the most adventurous. And, most people really enjoy the kayaking sightseeing experience.
2. Historic downtown areas. That’s right -- plural. Historic downtown areas include destinations such as Titusville, Cocoa Village, Cocoa Beach, and, of course, Melbourne. All have something to offer. From art galleries to shopping, entertainment, dining, and a whole lot more.
3. The Archie Carr National Wildlife Refuge. Here, you’ll find one of the single most important nesting areas for the loggerhead sea turtle. There’s a three-quarter foot trail to walk and even a lagoon to enjoy.
4. Melbourne Beach. What’s a trip to Melbourne without getting out to the beach? Don’t worry about the season because it’s beautiful year-round. Practically no matter the time of year, Melbourne Beach is here to soak up and enjoy.

This certainly isn’t the end of the list of things to see and do in Melbourne. You can also take a thrill ride on an airboat to discover wild Florida. Or, hop onto a cart and race around at Andretti Thrill Park. For those more appreciative of the finer things in life, there’s always the Brevard Symphony Orchestra. On the other end of the spectrum are water activities. Take a sailing charter, or a fishing charter, or just stroll along the beach.

Top 5 Tips For a Profitable Real Estate Investment  

Any time you are interested in purchasing an investment property or a home, you must keep in mind the key factors that will affect the future price of your investment and whether it will generate a positive or negative return. The following are some tips on how to generate profits on your real estate investments.

1. Understand the market and the factors that affect it. Location is often touted as the most important factor in real estate investing. There is truth to this, ignore it at your own peril. Remember, the neighborhood is very important to the value of your home, the quality of your home alone is not enough. Remodeling your house is achievable but you cannot alter the neighborhood. The appeal of a nice house will be negated if it is located in an undesirable neighborhood and this will remain that way for decades.

2. It is important to look out for neighborhoods expected to experience growth. Good signs of growth include the development of new infrastructure, schools, or even retail spaces. Developers focus their projects on areas that they think have potential, if there is an upcoming development chance a home you purchase will appreciate in value.

3. Be cognizant of local property taxes. You want to purchase a home in an area that does not make the cost of owning a house exorbitant. However, a location that has very low property taxes will experience low demand meaning equity growth will be slow.

4. Schools' rankings are also an area you should research. Regardless of whether you have children or not you should buy a home in an area that has highly-ranked schools. This is so that you are able to find a buyer more quickly in the future if you decide to sell. A higher price is definitely in the offing if you will be selling to a family who needs to be in an area served by good schools.

5. Finally, pick a property near a metropolis. Even though you do not prefer living in a metropolitan area choose a house within the immediate suburbs. The rate of price appreciation will be higher and you will have convenient access to facilities such as hospitals, shopping malls, and good restaurants.

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