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"there is a reason" The Byrds
Well we have reached the end of snowbird season and a lot of our friends have headed back north. The green fees have again been reduced, especially in Cocoa Beach since they are reconstructing greens which doesn’t affect my game much because I can’t putt. When next season rolls around the greens should be in great shape so give Cocoa Beach country club another try next year. I do like to support local entities. Recently a lot of landscape people, painters, handymen and even auto detailers from Orlando have been showing up in the office but I have to tell them I use local businesses.
The Real Estate market has shown signs of stabilizing as activity increase’s although prices are still falling. The condo market is still very challenging with financing being the way it is as far as underwriting goes. We have a closing scheduled for this Friday in a very nice complex; the problem is that this complex doesn’t keep reserves. We had to switch lenders at the last moment because of no reserves, good news is we got it done through Space Coast Credit Union and saved the buyers a point. We also found out that USAA, which is a favorite lender for military personnel, will not write mortgages on Florida Condos period.
Our 3 complexes have not seen a lot of activity in the last 2 weeks but we have had some news in Windward East.
There is a new listing on the 7th floor of the side building that is listed at $320,000. This is a 2 bedroom 2 bath unit with 1316 sq ft. I would expect this unit to be shown and sold, I only wish they could have gotten it on the market during the season.
The Windward unit 308 that was listed at $299,900 closed at a purchase price of $285,000. This also was a side unit but was in very good shape.
Keep it in the fairway!
Jim Bagwell
