Summertime Blues!

There has not been a lot of activity this past week in our complexes.

I do believe in Windward East we have the hardest working maintenance man you could ever find and the place looks great.

What is going on in Cocoa Beach?

Prices are still falling rather rapidly, I even saw a canal pool home reduced to $325,000. If you don’t need to sell a single family waterfront home then my advice would be to hang onto for awhile. However if you really need to sell then find a agent who will show you what the competition in a comparable market, the worst thing that can happen in this market is to price yourself out of market. You really need to be in the lowest 3 priced properties that are comparable to yours. If you price too high to start with then you will miss showings and that will be the downfall of selling your property. The last thing you need is an agent who will tell you what you want to hear and waste your time with unrealistic expectations.

Update

Windward East

There is a new side tower unit 2 bedrooms 2 baths1450 sq ft priced at $335,000 on the 4th floor.

The potential flip on the 1st floor has been reduced to $185,000. That price is just about break even. Be very careful when you are considering a flip in today’s market. Whoever looks at this unit will look at when it sold and at what price it sold at previously. Please get good advice!

The Diplomat

The oceanfront unit with 2520 sq ft has been reduced to $649,000. This is still a hard sell but I wish them well.

Windrush

The 2nd floor unit with sand dollar floor plan that was listed at $354,000 closed for $310,000. This is typical of what is happening in today’s market.

If you are listing in the market today, list it at a little above what you will take. If you list at $60,000 or even a $100,000 above what is the realistic price then you just shot yourself in the foot or the head.

Peace to all