"I don't need satin to sleep"

Cheryl Crow

Sunset at Harbor Isles

Luxury Market

We have a client who owns a Real Estate franchise in Boston.  They bought a million plus home on the Indian River about 5 years ago.  In Boston they deal exclusively with high end properties, they made the observation that the high end market was more or less impervious to the market trends.
For those of you who saw the paper today, there are 10 high end short sales in Brevard.  There are actually 11 priced from $900,000 to $1,900,000.  All of these are on the ocean or the river,  there is one in Satellite Beach priced at $1,750,000 on the ocean with 9800 sq ft and about 1.25 acre.  No guarantees on getting the banks to accept the offer but they are responding more quickly and sometimes countering.

News in our complexes

Windrush
There are 2 new listings with side views.  Both are 2 bedrooms 2 baths, 1 on the 5th floor priced at $265,000 and 1 on the 3 floor priced at $219,900.  As you can see the foreclosure in Windward East has affected the comparable pricing.

Windward East
The short sale direct ocean, 1394 sq ft on the 4th floor is under contract.  The HUD appraisers are now using short sales and foreclosures in preparing their appraisals.

The Diplomat
The short sale in the front bulding priced at $80,000 closed at $74,900.  Another new comp!

Get to the art show this afternoon, it brings out the unique!

Jim Bagwell