Cocoa Beach Condo Market

Happy New Year to all

Not a lot of activity in our complexes so far this new year, there is a front unit in The Diplomat that went under contract. The unit was priced at $149,900 so it was priced well, this unit was also fully furnished and showed well. Surprisingly the 1st floor ocean front unit in The Diplomat is still on the market with 2 bedrooms 2 baths and 900 sq ft, the views are pretty good and it is priced at $239,900, needs work but still not a bad sq ft price for oceanfront.

I am sure most of you have seen the 2008 foreclosure numbers. Florida has moved to the number 2 position behind Nevada.

On the beach side we are fortunate in that we have been rather unscathed in this market. At this writing the MLS shows 19 bank owned but in reality there are 15 since some listing agents just listed the properties incorrectly. There are however 69 short sales.

One of the foreclosures is in the Almar in south Cocoa Beach. Never lived in unit with 2713 sq ft 4 bedrooms 3 ½ baths, it is on the 4th floor of a 5th floor bldg. It is now priced at $499,900.or $184.26 a sq ft.

Enjoy the moment!

Jim Bagwell