Apology

I am sorry to those of you who follow this blog on the neighborhood. In addition to the financial crisis, we experienced the passing of my mother. She was a great lady and was one month short of her 88th.

There are 2 new listings in our complexes.

The first one is one of the front units in The Diplomat. It is a 2 bedroom 1 bath 750 sq ft and priced at $163,000. The lead picture of the listing is the oceanfront building in The Diplomat, you have to be very careful as a listing agent when you use this practice or you end up with a angry buyer when they actually see the property. I have always found that deception will always bite you in the butt.

The next is a 2 bedroom 2 bath in the Windrush. This unit has been remodeled and priced at $280,000. The lead picture for this listing is the actual view from the unit, kudos to the listing agent.

On another note, we have watched what has happened to the property value in Water's Edge in south Cocoa Beach. It is very similar to Windward East and Windrush, the big difference is the 1st floor is actually the 2nd floor because of underground parking. They never trim the sea grapes and now the 2nd floor has no view. A 2 bedroom 2 bath unit has been on the market for over 2 years priced at $229,000. Now the other floors have fallen dramatically because the comparative market analysis for the complex includes all floors. At Windward East we have a beautiful dune line with fantastic sea oats, the problem is you can't see the sea oats because of the sea grapes,cabbage palms and 6' high weeds. The view is one of the most important features in a ocean front complex.

Hope you all have widely diverse investments.

Jim Bagwell