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The picture shown is of Edwards Bay in Cocoa Beach. I don't think it looks like Cocoa Beach. I have lived here all my life and still see new things.
Hope all is well with everyone. Sorry it has been so long between posts. We have been very busy and transactions take much longer to close.
There has been some positive activity in the market but after yesterday we have to see what kind of fallout we will see in the Real Estate market. With a normal downturn in the stock market we used to have an upturn in the Real Estate section. This however has not been a normal downturn especially concerning banks and investment corps. We have had several people who thought their money would be safer in Real Estate than other financial institutions.
In our three complexes the activity has still been steady.
New listings
The only new listing is a 2 bedrooms 1 bath in the front buildings. This is a 750 sq ft and is listed for $179,900.
Sold
Windward East unit on the 6th floor direct view with 1240 sq ft was listed at $374,000 sold for $315,000.
Windward East unit on the 4th floor with a side view and is the bigger 2 bedroom plan with 1450 sq ft was listed at $335,000 and sold for $335,000. This unit had been upgraded and showed very nice.
The Diplomat unit in the front buildings fully furnished 750 sq ft and 2 bedroom 1 bath listed at $168,000 and sold for $156,000. In all this unit was on the market for 1033 days.
Other significant sales
A unit in the Xanadu was a bank approved short sale for $358,000 , it sold for $342,000 since there was a $16,000 assessment that was paid by the buyer. The monthly at Xanadu is $500 and this complex doesn’t allow pets
A brand new unit in Crescent Palms on the river sold for the list price of $342,900. This was a foreclosure and never lived in unit. This same unit sold for $699,000 in 2005.
Have a good one.
Jim Bagwell
