"Irresistible value" finally sold a Canadian ForEx specialist on Vero Beach. (Photo by greenphoto70)

An article today out of Canada highlights the enduring appeal of living in32963 for foreign buyers, the value of due diligence and the appeal of the Treasure Coast vis-à-vis other corners of the Sunshine State. David Newman, the owner of a Toronto-based finance and foreign exchange company, had been planning a Florida home purchase after a friend bought “a place” in Fort Myers for $40,000. Inspired by the thought of buying a Florida residence with his credit card, Newman began searching for homes and soon shifted his focus away from the Gulf Coast of Southwest Florida and over to the Atlantic and homes in32963. “After searching for several months,” the Toronto Star reports, “he bought a 2,700-square-foot detached house with three bedrooms in a gated community in Vero Beach for $224,000.  ’The value was irresistible,’ he says, referring to the three tennis courts, pool, clubhouse and location backing onto a lake. Most important, however, was the property’s history. Built in 2007 in a housing boom, it sold initially for $563,000.” So while we read tales of buyer’s remorse coming out of many Florida markets like Fort Myers (“The Loneliest Condo Dweller in Florida”), it’s always good to hear about well-informed, satisfied buyers—who initially had not considered our corner of Florida—but ultimately decided on the quality of life and “irresistible value” in32963.  (Article: FX Specialist Sweetens Florida Deal)

IHS Global Insight ranks Vero Beach as the 2nd Most Undervalued Real Estate Market in the U.S.

IHS Global Insight, one of the world’s leading forecasting companies, just released their latest quarterly survey of House Prices in America, and while the news is mixed on a national basis, the findings are quite encouraging for potential buyers in32963. According to IHS, “house prices in the U.S. ended a two-year decline, and edged up slightly over the second quarter. The rate of decline has decreased among metro areas as the market has begun to stabilize. Yet it is not certain that the housing market is on a recovery path. Economic conditions remain dire and significant headwinds exist in stubbornly high unemployment rates.” And now for the good news: Of the 330 U.S. metropolitan areas surveyed, IHS ranked Vero Beach Florida the #2 Most Undervalued Housing Market in the U.S. According to IHS, the median housing price of $206,900 in Vero Beach was roughly 30% overvalued in 2005, while other Florida markets like Naples and Port St. Lucie were 40-50% overvalued. In contrast, all Florida markets are significantly undervalued today according to IHS with Vero Beach’s current median home price of $123,300 approximately 40% undervalued. While in32963 focuses exclusively on higher end properties, it’s not easy to extrapolate to the Barrier Island; however, the “undervalued” validation from a credible third party is encouraging for potential buyers and bargain hunters in32963. (IHS Quarterly Report Summary)

Bill, Mary Frances and Cassie (pictured) are blogging in32963 en route to the Keys.

TripSailor.com is one of the best social networks where sailors share their offshore life online . The website has an excellent blog feature where members and visitors can interact, share itineraries and upload photos from their voyages. One of TripSailor’s most active and well-written blogs is currently being updated by Bill and Mary Frances, a retired couple from South Carolina sailing from Hilton Head down to the Keys. Fortunately for us, they are enjoying an extended stay in32963 and blogging from the docks in Vero Beach. Since their arrival last week, Mary Frances has been writing about cormorant sightings, trips to Fresh Market, TV repairs, lunches at Riverside Cafe, dinners at Mulligans, and haircuts for their travel companion, Cassie. “This is our 3rd night here at Vero Beach and we can understand why it’s often called Velcro Beach because when you get here you tend to want to stick around,” Mary Frances wrote on Saturday. Weather and wind instrument repair delays may keep the couple in32963 longer than originally planned, but Mary Frances is enjoying the warm weather and looking on the bright side, “Well, we’re unsure of when we’ll leave Vero Beach. Vero is a great place to be if you’re going to have a delay. I’ll keep you up-to-date.” To follow Bill and Mary Frances’ adventures in Vero and journey to the Keys, visit “Cool Breeze Sails South.”

Today we look at the breakdown of active listings in32963 by property type in the five main price segments. The $250,000 to $500,000 segment leads all groups with 122 single-family homes, 101 condominiums and 6 lots, while the middle price segment, $750,000 to $1 million, has the lowest inventory of single-family homes (60), and the most exclusive segment, $2 million and above, has the fewest number of active condominium listings (9). The few remaining undeveloped lots in32963 are scattered across the five price segments and range in price from $260,000 on 926 Beachcomber Lane to $7.5 million for the parcel at 1940 South A1A.

For more information on these and other properties in32963, contact info@in32963.com.

NYTimes: Indian River is one of the few corners of Floirda that still has roadside citrus stands.

New Year’s Day is the perfect time for waxing nostalgic, and that’s exactly what the New York Times did yesterday regarding the Florida that many of us knew decades ago. In a simpler time, when Florida was the undisputed global king of the citrus industry, roadside stands greeted visitors with fresh oranges, free samples and Florida souvenirs. “Before Interstate 95, Starbucks and Sbarro, roadside citrus stands lined nearly every major thoroughfare in Florida. They made buying local fun before the locavore food movement made it fashionable, but increasingly they are a dying breed.” But fear not, writes Damien Cave, here in Indian River County, “one (can) find the last handful of citrus stores that offer the stickiness and tart scent that once defined the state.” Ed Peterson’s family have managed Peterson’s Groves in Vero Beach for eighty plus years. When asked for the secret to his grove’s longevity, Ed says, “It’s my charm,” but his brother is quick to share the real reason, “We’ve worked hard; that’s what it is. We’ve refused to give up.” (Full Article and Slideshow)

Classic postcard: "Bathing in Atlantic Ocean, Vero Beach, FLA. (Source: verobeachpostcards.com)

The Barrier Island of Vero Beach is home to thousands of individuals and families from many different corners of Florida, the United States and several foreign countries. And while our individual reasons for moving to this spectacular island are varied, there is one number that unites us: 32963. In that spirit, we created in32963 as an online community for those of us who are already living the lifestyle and for others contemplating relocation to our special corner of Florida. From Indian River Shores in the north to The Moorings in the south, from the rich history of John’s Island to the modern resorts emerging downtown, the Barrier Island lifestyle is unsurpassed in terms of natural beauty, environmental sustainability, outdoor amenities, security and exclusivity. Add to this a vibrant arts and cultural scene and a generous community united around charitable causes throughout the year, and you have the recipe for an unmatched quality of life.

So whether you’re already “in” or soon-to-be, we’re glad you found us.