"look like nothing's gonna change"

"Everything still remains the same" The late, great Otis Redding It is hard to believe that it has been 40 years since Otis died in a plane crash. He was 26 years old when he died and look at the hits he had already created.

In our complexes the one bedroom in Windward East on the 4th floor listed at $179,900 closed at $165,000. This was a win win for buyer and seller. The Windrush that we talked about in the last post in Windrush that we said was a good deal as it was a 2/2 end unit on the 1st floor is now under contract with a list price of $159,900. Our listing in The Diplomat listed at $99,000 has closed at $86,500.

Other good deals

The Constellation in south Cocoa Beach is now foreclosed and listed at $333,500. This unit is a 3/2 with 2126 sq. ft. and is on the 5th floor making for great ocean views and river views.

Driftwood Villas north of SR520, this was a developer unit which was created by combining 2 units together, the unit now has 3 bedrooms 3.5 baths with 2507 sq. ft. and located on the top floor with great views. List price is $389,000.

Happy Holidays to all!

Jim Bagwell

"Spend eighty percent of your time on the opportunities"

"of tomorrow rather than the problems of yesterday" Brian Tracy

This is a balcony view of a single family home we have listed for rent. Pool home, 2 story with huge boat dock and listed at $2000 a month.

In Windward East the 1 bedroom 1 bath unit on the 4th floor is under contract. The list price was $179,000 and had been updated to a certain extent, I will let you know what it closes for when it closes.

In Windrush there is a new listing that is on the 1st floor SE corner that is a 3 bedroom 2 bath unit and priced at $265,000. This could be a good buy.

In 2100 Towers the unit that has been under contract for awhile closed for $148,000 with a list price of $189,500. This unit has 1200 sq. ft. with 2 bedrooms 2 baths.

In The Diplomat our listing is now under contract with a list price of $99,000 and that only leaves the oceanfront listing in the complex.

A couple of good buys that I noticed are a unit in Emerald Seas with 3 bedrooms 2 baths 2027 sq. ft. with a list price of $297,500. There is also a new listing in Stonewood on the 10th floor, this unit has 1317 sq. ft. 2 bedrooms 2 baths with a list price of $270,000.

On the investor owned macdaddy units in Villa Verde that we mentioned last post, 5 are now under contract including the penthouse. Price it and they will come!

Jim Bagwell

"In the middle of difficulty lies opportunity"

Albert Einstein

Picture is of the family room in Villa Verde in south Cocoa Beach


Still not much going on in our complexes except for The Diplomat. The short sale and one other listing is under contract. It also looks as though we have a meeting of the minds on our listing so that only leaves the oceanfront listing available in The Diplomat.

Villa Verde is the green building that is gated in south Cocoa Beach. There are 6 units now on the market being sold by the investor group that took them back from the developer. They range in price from $345,000 to $399,000. These units all have 2875 sq. ft. with 3 bedrooms and 3 1/2 baths. They all have all the upgrades and all the technology features like one touch control of lights, AC,shutters and built in TV in the kitchen. The penthouse is not on the market as yet since the owners are deciding whether to divide into 2 units. This unit is the entire top floor with 5750 sq. ft. This could be a opportunity for the right investor especially if they went for the building.

Have a great Sunday!

Jim Bagwell

"New opinions are always suspected"

"and usually opposed because they are not already common"
John Locke

Walker Bagwell preparing for takeoff.

Nothing new going on in our complexes except for The Diplomat.

A new listing on the ocean has came on the market. All the oceanfront units have 2 bedrooms and 2 baths with 900 sq ft. The new unit is listed at $215,000, this is not bad for a oceanfront unit.

For those of you who are interested in commercial real estate, a double unit in the Cape Royal building listed at $240,000 just sold for $79,050. This unit has 3200 sq. ft. and you can divide it into 2 units. That could be a good income producing property.

Well the mixed use amendment has passed in Cocoa Beach. This was a very passionate issue on both sides. Don't look for any changes to occur for years to come. It does give property owner's options. Yen Yen's restaurant is planning on adding a asian market above their restaurant.

Come on Gators, beat a ranked team.

Jim Bagwell

"My blood runs cold"

"my memory has just been sold, my angel is a centerfold" Ada and I went to Gainesville to watch the Gators lose to Bama when this song came on the radio. We were very proud we remembered that it was by Gary Lewis and the Playboys, then I found out it was by the J. Geils Band. It is back to the ginseng for us.

Blast from the past, night launch of the shuttle. Maybe Boeing can make it work again.


Things picked up a bit since our last post on the 23rd. After we listed a Diplomat for $99,900 there has been a new listing that is a foreclosure and listed at $94,900 in the same building. It appears to have been updated to some extent.

There have been 2 sales in the Windrush. Both side units with a north view of the ocean. The 1st was unit 413 with 2 bedrooms 2 baths and 1271 sq. ft. Listed at $220,000 and sold for $213,000. The 2nd was unit 411 with 2 bedrooms 2 baths and 1517 sq. ft. and a sand dollar floor plan. This unit was listed at $234,900 and sold for $218,000.

Since the last post there have been 7 new listings that are called ocean front but only 4 actually are ocean front units although all 7 are in ocean front complexes. None are really exciting but one of them is in the Marlin Apartments next to the old Holiday Inn. Listed at $99,900, it is a 1 bedroom 1 bath unit with 716 sq. ft. The complex has on site management and is a popular rental destination.

Enjoy

Jim Bagwell

"Its a beautiful day"

"Don't let it get away, It's a beautiful day" U2

Picture is of our listing in Ocean Sands scheduled to close this week. It can be challenging to close with lenders today but luckily this is a cash deal.

It has not been a busy October as yet but that is not surprising. We normally have a slack period from Labor Day through December.

We do have a new listing in The Diplomat. It is on the north row in the building next to the ocean building. Listed at $99,000 and the unit is on the 2nd floor, it hasn’t been updated but shows nice. Not being a short sale or a foreclosure, I expect it to sell rather quickly.

In the 2100 Towers, the foreclosure on the 1st floor listed at $149,000 sold for $130,000. This unit had 1600 sq. ft. There is a listing on the 6th floor that has 1200 sq. ft. that is pending. It is a river view unit and we will have to see what it closes for the sale price.

In Cocoa Beach and Cape Canaveral there have only been 8 new oceanfront condos listed this month. These units are priced from $129,000 to $669,000.

There have been 7 oceanfront condos closed this month and I am proud to say that Walker Bagwell Properties had 3 of the sales.

Enjoy this beautiful day!

For you Gator faithful, Tim Tebow gets his 1st start today in Miami.

Jim Bagwell

"Never kick a cow turd on a hot day"

Hank Williams jr. said this was quoted by Pres. Truman in the rose garden in 1948 while he was trying to regroup after his idiotic rant on Fox & friends. I realize that Hank is an intelluctual but before Pres. Truman, Will Rogers said "Never kick a cow chip on a hot day"

This picture is of the cabbage palms on the dunes of Windward East. Cabbage Palms are not protected by anyone but if properly trimmed they can look like the next picture. Now I understand that this only affects the 7 1st floor owners but Windward East has one of the best associations on the beach and the dune line should reflect that in being well maintained.

These are well trimmed cabbage palms but they won't grow this tall unless trimmed.

These are the Seagrapes, with a permit they can be trimmed down to 6' from the ground line from which they grow not the sod line. These are beautiful plants when properly trimmed.

Finally this is one of 2 Brazilian Pepper trees that we have in our dunes. This plant is not indigenous to our state and groups have taken them out where they can, the problem is they choke out all other plants around them to expand. They have to be dug up and not cut down. I am not complaining I am just 1 of the 7. Windward East does have one of the best associations and have spent a lot of money on landscaping but the dune line is one of the most valuable assets for property values and the envirionment.

Alright that is out of my system! Windward East 604 was briefly under contract but is now back on the market. It is a shame that when the buyers went back to the unit after that huge rain storm this past weekend, there was a leak from the upstairs unit and we think they got worried. This happens in a condo.

2100 Towers foreclosure on the 1st floor closed a couple of days ago. This unit has 1600 sq. ft. and 2 bedrooms 2 baths. Listed at $149,000 and sold for $130,000.

Thanks for letting Hank and I rant!

Jim Bagwell

COWABUNGA DUDE

Surfs up at Cocoa Beach Pier. Cowabunga is also the greeting from Chief Thunderthud on the Howdy Doody show.

The Diplomat
The foreclosure listed at $96,500 has closed for $89,000.
That only leaves 2 active. One is a short sale listed at $90,000 the other is listed at $114,900.

2100 towers
The foreclosure on the 1st floor has been reduced to $149,000. This unit has 1600 sq ft and is a 2 br 2 ba, good buy for someone who doesn't mind 1st floor.

There is a block of Mystic Vistas that have came on the market being sold by the owner/developer. They are priced according to sq ft. The prices are from $199,900 to $209,900 and the sq. footage range from 1686 to 2059. For the right price this could be a good deal for the investor buying the block.

New listing in Stonewood 1st floor has been listed at $169,900. The unit has 1317 sq ft but is in the most undesirable building as far as views go. With all the amenities at Stonewood it is still a good buy.

Jim Bagwell

"All the things I could do"

"If I had a little money" Money money money ABBA

Picture is of the complex behind Florida Seafood that we talked about a couple of posts ago. This is the complex that was built as condos and didn't sell, they then marketed them as shared ownership and still didn't sell. They were then put on the market as unfinished units at very distressed prices. A block of units were bought and are being finished and are already back on the market. I knew this was going to happen since there is a lot of room to walk away with a lot of profit.

They are not skimping on finishing the units with Italian marble throughout, Kraftmaid cabinets and stainless steel. The complex features pool, exercise room and boat dock.

To give you an idea of what has happened, unit 306 was purchased for $170,000. The unit has 3 bedrooms 2 baths and 2084 square feet. It is now on the market for $295,000. After getting a discount with multiple units being finished at the same time, I would think $100,000 profit is on the table. Not too shabby! The penthouse is on the market for $629,000, the unit has 4 bedrooms 4 baths and 4299 square feet.

Good move by someone, you may say I am a dreamer!

Jim Bagwell

What a ride!!

Picture is of Windward East & The Diplomat from the biplane. My partner and I took the beach tour and it was a blast. If you get a chance try it.

Several interesting listings have came on the market.

The Diplomat
A 1st floor unit that appears to have been renovated to some degree with the kitchen having been opened up and new appliances and oak cabinets. Priced at $114,900, that may be a little high but it is a popular complex for rentals.

Windrush
2 side units have come on the market.

The first one is on 5th floor with 2 bedrooms 2 baths and 1271 sq. ft. New hurricane sliders and priced at $230,000.

The 2nd unit is on the 4th floor with 2 bedrooms 2 baths and sand dollar floor plan with 1517 sq. ft. Unit features updated kitchen,newer hurricane sliders. Priced at $234,900.

Another side unit on the 2nd floor has been reduced to $169,000. This unit is also a sand dollar plan with 1517 sq. ft. Unit has several upgrades and if the 2nd floor is good for you then this is a good buy.

Windrush allows monthly rentals and the association fees are $390 monthly.

Thanks
Jim Bagwell

"A cloudy day, or a little shushine,"

"have as great an influence on many constitutions as the most real blessings or misfortunes" Joseph Addison

Still not much new in our complexes, The Diplomat that is a short sale has been reduced to $90,000. When there is a broker price opinion completed after a contract is received it should be very close to this price, which means if the offer is close to list price then the lender will most likely approve.

So far in Sep there have been 6 sales of true ocean front condos. These have ranged in price from $185,000 to $325,000 ,this one has almost 2000 sq. ft. The average sale price would be $157 per sq. ft.

Two new listings of interest are a Siesta del Mar foreclosure listed at $139,900 and an Almar with 2713 sq. ft., 4 bedrooms 3 ½ baths and priced at $465,000.

List prices are starting to reflect sale prices which is good for the recovery.

Jim Bagwell

"I would never make her sad"

"I've got a heart full of soul" The Yardbirds
Not many people remember that the Yardbirds featured Eric Clapton, Jimmy Page and Jeff Beck. All 3 in the rock and roll hall of fame twice.

Boat races are coming back!

Importance of a buyers’ agent


A lot of potential buyers think the best way to find a property is to call all the listing agents. This method is actually not very effective. All agents in Florida are now presumed to be transaction brokers unless the buyer signs a single agent disclosure. Beside this fact it is very intensive for the buyer to search all the sites and if they are searching realtor.com or homes.com these sites are not updated often and sometimes not at all. If you call or meet with one agent that you think you can work with as your agent then he or she can set up an automated search which will notify you of any new listings that meet your criteria. He or she can then show you all listings.

I mentioned the Mystic Vista condo that our buyer got for $190,000. The unit is on the top floor with ocean views and has 2010 sq ft. There is now a Mystic Vista on the market that is on the 3rd floor and 1686 sq ft and the view is to the west priced at $229,000. May be overpriced but negotiate using info that you now possess.

For the brave there are 2 foreclosures on the market in South Beach keys condos. They both are priced at $239,900, one has 2425 sq ft and the other has 2611 sq ft. To me the biggest drawback to me is the lack of parking. There is virtually no visitor parking. The complex is on the Banana River with boat slips, 1st come 1st serve and it is U-shaped with a pool in the middle.

Nothing new in our complexes, I do have a buyer for a unit in the front buildings in The Diplomat. If you have one you are thinking of selling or someone you know then have them call me.

Thanks Jim Bagwell

"If you don't learn to laugh at trouble"

"You won't have anything to laugh at when you're old"
Will Rogers

Picture is of our listing in Ocean Sands in Indialantic. This condo is a SE corner with 3 bedrooms 2 baths and 1811 sq ft. Price of $279,000 and that is priced to sell!

In our 4 complexes, nothing new in the past week, there are still 10 active listings and 3 under contract. This is the smallest number of listings in a long time hopefully this is good for the seller.

It has been a busy week in other complexes on the beach. There have been 10 closings this past week however 4 were the complex behich Florida Seafood I told you about earlier and the same buyer bought all 4. The buyer will make money on this purchase.

There are also a couple of new listings that are interesting. First a new short sale in Ocean Pines, 4th floor unit with great views 2 bedrooms 2 baths and priced at $250,000. There is also a river unit in Bayside that is also a short sale and it has 2030 sq ft with 3 bedrooms and 2 baths. Priced at $164,900. This could be a good buy. There are also a couple in the weekly or daily complexes which are good deals for the investor but getting harder to finance.

Enjoy the day and think about the outer banks.

Jim Bagwell

"He stabbed the moment in the back"

"with the round thumbtack"
"that held up the list of things he gotta do" Jack Johnson his lyrics sound a lot like Dylan or Simon.

Picture is of a Mystic Vista that our buyer picked up for $190,000, the unit has over 2000 sq ft with 3 bedrooms 2 baths and is now for rent at $1900 a month.

FYI, lenders are asking for more information about condo associations than ever before. It is very important that associations are proactive in gathering this information prior to the request. The lenders will ask for such things as number of units, how many owners are full time or investors, amount of reserves, insurance certificate, number of foreclosures, number of short sales, number of delinquent owner fees and assessments upcoming. We came very close to losing a deal because a professional management company couldn’t quite come up with this information and the buyer was going to lose his mortgage rate lock. It is a tremendous advantage to owners that units in their complex can be sold with a mortgage; there are many complexes that now can’t be financed which is a hit on property values.

The Diplomat

The only thing new in our complexes is the foreclosure in The Diplomat is under contract, list price was $96,500. This is the easiest complex to comp now as there have been 4 sales this year with an average sale price of $92,250 and an average days on the market of 15.5 days.

There is a new listing in Canaveral Sands that is a 1st floor unit with 2 bedrooms 2 baths, 1222 sq. ft., good ocean views and a list price of $189,900.

On the river, there is now a listing in Harbor Isles that is direct Banana River with 2 bedrooms 2 baths and a list price of $169,900. This complex has all the amenities including 3 pools, tennis courts, clubhouse and workout room.

Jim Bagwell

"If you are going through hell keep going"

Winston Churchill I believe he knew of what he spoke

I know you don't need me to tell you that our property values are still dropping. What you may not know is Brevard county is looking for revenue so they are proposing raising our tax millage rate and the assessed value of your property. If this goes through you could be paying up to 17.5% more on your tax bill next year. Public hearings are set for 9/13 and 9/27 for the citizens to voice their opinions.

Still nothing new in our complexes. Interesting to note, we closed a Mystic Vista short sale that is on the top floor with ocean views. This unit has 2010 sq. ft. and 3 bedrooms 2 baths and closed for $190,000 or $95 per sq. ft. Another Mystic Vista short sale was closed by another company that was also on the top floor. This unit has 1686 sq.ft. and 3 bedrooms 2 baths. This one sold for $170,000 or $101 per sq. ft. Get yourself a buyers agent!

There is a foreclosure in Cape Winds on the market that is a 1 bedroom 2 bath unit and priced at $97,500. Cape Winds is still a popular buy for the investor since there are no rental restrictions so a lot of these units are still selling.

Have a good one

Jim Bagwell

"I don't need an invitation"

"If you've got a game of chance" Easy Money Billy Joel

THE PROMISE OF EASY MONEY HAS HURT A LOT OF PEOPLE NOT ONLY IN COCOA BEACH BUT ALL OVER THE NATION.

The picture is of the Enclave in Cocoa Beach. This complex was built by Enclave Three Hundred LLC at the worst time possible. They were originally listed over a million and several closed for $945,000. We are closing one today for $490,000. The unit has 3463 sq. ft., 4 bedrooms 3 baths,3 car garage,pool,private elevator and top line appliances. This is called a private home since it is not connected but the separation is minimal. There is only one left on the market with a list price of $549,900.

In our complexes there are 3 under contract with 2 in 2100 and 1 in Windrush. That only leaves 11 active listings in Windward,Windrush,The Diplomat and 2100.

The shortage of inventory is actually lower in single family homes than condos.

Thank you
Jim Bagwell

"I like to take her out to dinner"

"I like a movie now and then but I love this bar" Toby Kieth

In that same vein I love our company. It is so nice not to have to worry about your agents doing the right thing since they always do. If we don't know the answer we know where to get the answer. I truly believe we have saved our clients thousands of dollars over the years by knowing the market and knowing how to negotiate. Just a thought!


In our complexes there are only 13 active listings in all 4 complexes. This could be a great time to sell your unit because of the inventory shortage.

There is an interesting concept in the works in Cocoa Beach. If you have noticed the condo complex behind the Florida Seafood Restaurant that is still vacant. The complex was originally built as a shared ownership complex which is very popular in resort cities. This did not work out so they are now selling them as condos. There are quite a few on the market with similar prices. There is one on the top floor with 2531 sq. ft. and 3 bedrooms and 3 baths. The complex has all the amenities including boat dock, pool and hot tub. The master has a jetted tub. The thing is you have to finish the unit on the inside. The estimates are between $20-$30 a sq. ft. So for around $300,000 you could have a brand new unit on the top floor with great river views. Wow!

Thanks
Jim Bagwell

"My lizard"

The picture is one of the pack of curly tailed lizards we have living in front of our office. This is the small one. They have been following me and I think they are planning on taking me down so now I run to my car. They look like those critters that took down the fat guy in Jurassic Park 1.

I follow 1st floor condos closely since I have a 1st floor condo.

There are a couple of 1st floor buys in Cocoa Beach, so tell your friends.

The Beachwinds 1st floor is still available. This is a foreclosure with 3 bedrooms 2 baths and priced at $198,000. 3.5% down payment available, so this is very affordable. Beachwinds is a nice complex I know since I have lived there. The condo fees are $415 monthly.

The 2nd is a unit in La Mer, listed at $199,999. This is another 3/2 and the condo fees are $360 monthly.

Come on, it don't get much better.

Jim Bagwell

Good News

We have learned that a friend of ours and his partner have purchased The Mango Tree in downtown Cocoa Beach and believe they will have a new restaurant open by the end of September. Our friend is from France and his partner is from Italy. They plan on the restaurant being Mediterranean/Italian theme. Please give it a try when they open. Now if we could get someone in Bernards Surf we would be doing better.

Nothing new in our complexes lately.

There is a new listing that is direct ocean in South Cocoa Beach that is in Coral Sands. Great beach and unit has 3 bedrooms 2 baths with 1792 sq. ft. It is on the 3rd floor so the views are incredible. This will be a good buy for someone.

Jim Bagwell

Life moves in cycles

It is amazing how life moves through cycles.
The Apollo program ended in 1975 and sent Brevard into a Real Estate crisis with many people walking away from their homes. 36 years later the shuttle program has come to an end and we are already in a Real Estate crisis but I don’t think we will see it get worse.

The first picture is my son Jay in the Stan this year, the 2nd is yours truly with Sgt. Rock in the Nam almost 42 years ago did I really just say that.

Real Estate


The inventory has gotten so low on oceanfront condos that it is a great time to sell a unit if you want to sell it. We are receiving multiple offers on a lot of condos. If you can price a corner unit right then expect some offers.
Nothing new in our complexes but there are a couple of interesting listings.

The 1st is in Michelina that is 3 bedrooms 3 baths, 2008 sq. ft. and built in 2006. Short sale listing with a price of $430,000.

The 2nd is a 2 bedroom 2 bath direct ocean unit in Canaveral Sands with 1316 sq. ft. and is not a short sale with a list price of $155,000.

Enjoy your day!
Jim Bagwell

Cocoa Beach, Did you know?

In 1942 a German sub sank a ship, the La Paz directly off Cocoa Beach. Naturally Cocoa Beach used the local boys to clean the debri off the beach and salvage the ship. What a place to call home!

picture is a new listing at the end of Newfound Harbor on Merritt Island.


Naturally we go on a lot of listing appointments, one of the arguments that the large companies use is how big they are with more resources. They also use the fact that they have more listings. Now a lot of sellers buy this argument but the truth of the matter is the more listings you have the less attention is paid to your listing and in the modern world everyone has the same resources. Print advertising in today’s market is almost useless. We are driven by the internet but we still have contracts with the newspaper and magazines. The four principle partners of our company worked for several large companies, we started our own company because we desired more flexibility with our clients. As the broker I am proud to say we have some of the best listing agents in Florida.

Waterfront home on Bay Shore; listed and sold by Walker Bagwell Properties in 6 days.

Condo in Cocoa Beach; listed and sold by Walker Bagwell Properties in 90 days.

If we can be of help; call today for a free CMA.

Thanks

Jim Bagwell
321-213-0615

"So the graduations hang on the wall"

"But they never really helped us at all"
"No they never taught us what was real"
Billy Joel

According to the census bureau Cocoa Beach had a population of 12,482 in 2000 and in 2008 Cocoa Beach had a population of 11,920. Recently a motion in the city commission to allow mixed use in the downtown area was defeated by one city commissioner because it might have added 500 more people to Cocoa Beach. It just seems to me that this person was acting in his own interest rather than the people. We could certainly use additional revenue.

A new listing in the front of The Diplomat has come on the market; it is a foreclosure with a price of $96,500. It does appear that all the appliances are still in place.

The condo in Hacienda del Mar is now under contract, this is the one we talked about being a good price. The unit is direct ocean on the 2nd floor with 2 bedrooms 2 baths and 1273 sq. ft. list price of $269,900.

See you at the Pig & Whistle on Sunday 2pm supporting the women USA world cup team.

Thanks
Jim Bagwell

"When everything's made to be broken"

"I just want you to know who I am" The Goo Goo Dolls See I can be almost current!

Picture is the river view at our new listing in the Constellation. Direct ocean and over 2000 sq. ft.


The listing in the front building at Windrush is back on the market priced at $189,900. The owners are still $50,000 over priced and were listed with one of the best listing agents on Cocoa Beach and now have switched realtors. I guess you never know but expect buyers to do their homework with comparables.

The corner unit in Windrush that I told everyone could be a good deal is now under contract. List price when sold was $269,000 and original price of $287,900. This unit needs serious updating but has only been on the market for 79 days when it went contingent. Price it and they will buy!

Walker Bagwell Properties listed and sold the 510 side unit in Windward East in 90 days. Very informed seller!

Call me today for a free search, no obligation!

Jim Bagwell
321-213-0615

"Crazy Chester followed me, and he caught me in the fog"

"Said, I will fix your rack, if you'll take Jack, my dog" The Band I am not sure but these lyrics could be drug induced.

Nothing much new going on in our complexes in the last week.
2100 Towers has a new listing that is a short sale, I know you are sick of me saying that. The unit is a 2/2 with 1600 sq. ft. on the 3rd floor. The condo has good views and comes fully furnished and priced at $199,500.
There are 2 listings in S. Cocoa Beach that could be of interest.
The 1st is in Almar, built in 2006 the unit is a SE corner unit with 4 bedrooms 3 ½ baths with 2713 sq. ft. In my opinion the only drawback to the complex is parking. Each unit comes with a 2 car underground garage but there are very few visitor parking spaces. Priced at $550,000!

The 2nd is in Hacienda del Mar, this is a 2/2 with 1273 sq. ft, priced at $269,900. The unit is direct ocean on the 2nd floor with a one car garage. There are no pet restrictions in this complex. This makes a difference to a lot of buyers, Ada and I have a listing in Indialantic that is a 3/2 SE corner and priced at $279,000, this complex allows no pets so we have lost 4 contracts so far this year.

Walker Bagwell has a new listing that I like very much. The unit is in a building that has only 4 condos. The condo has 3/2 with 1548 sq. ft. and very much direct ocean. You can sit on your large porch and enjoy the ocean. The beach is in my opinion one of the best in Florida. The dues are $125 monthly with a yearly insurance assessment, which has been running approx. $1400 yearly.

Tell your friends!

Jim Bagwell

"Business men drink my wine"

"Plow men dig my earth" the incomparable Bob Dylan, I think I like Jimi Hendricks' version better.

The picture is of Villa Verde in South Cocoa Beach. This complex is only 9 units and was contructed to be luxury condos in 2007. Unfortunately they were finished at exactly the wrong time. There are now 5 units on the market by the investor, these units are priced from $435,000 to $495,000 depending on the view. They all feature 3 bedrooms 3 1/2 baths with 2875 sq ft. The original owner also has his penthouse on the market for $1,350,000 and this unit features 12000 sq ft with 4 bedrooms 4 1/2 baths with all the toys including private elevator, servant quarters and roof top garden.

The drawback to this complex is the health of the association. There is no way this was turned over to the association since there were no sales. Originally they stated the fees were $1000 monthly now it is to be determined. Taxes are up to date but I doubt the complex is fully insured. Here is a perfect example of doing your due diligence before pulling the trigger. Seek advise!

Enjoy the 4th and your freedom. I don't feel that some people give enough credit to our allies in our war efforts. A lot of other countries have made the ulimate sacrifice of their young soldiers by helping America.

Jim Bagwell

"I need this here old train to breakdown"

"oh please just let me breakdown" Jack Johnson You could take this song a couple of ways.

Ada and I had a short get away to Vegas this weekend. The pic is the ceiling of the Le Paris casino. For some reason it amazes me.

There is one new listing in Windrush and it is priced at $230,000. Side view with 2 bedrooms 2 baths, updated with granite, stainless and all that. 3 pictures in the listing and no pictures of the interior or upgrades. Hmmmm!

The Diplomat front unit that was under contract and listed at $119,900 closed for $110,000. This was a good deal for the seller. It was a cash deal so it didn't have to appraise which was a good thing.

Our listing in Windward East listed at $225,000 and closed for $210,000. This was a win win transaction. Listed and closed in 90 days so it can be done.

A unit in the Sun Club condo in south Cocoa Beach was originally listed at $349,000. The unit was reduced to $289,900 and closed for $255,000. This unit was on the market for 4 years before being reduced. I especially liked this sale since Walker Bagwell agents' had the buyers and sellers.

Enjoy your Sunday.

Jim Bagwell

"Long ago, when men cursed and beat the ground with sticks"

"it was called witchcraft. Today it's called golf." Will Rogers

No 4 tee box on CB river course.

The condo inventory is down all over the beach and the same for our complexes. In Windward,Windrush,2100 and The Diplomat are 12 active listings. 4 in Windward, 3 in Windrush, 4 in 2100 and 1 in The Diplomat. There are also 3 under contract with 1 in Windward,1 in 2100 Towers and 1 in The Diplomat.

One good reason to investigate the location of a condo is what happended to the Shorewood in Cape Canaveral. Shorewood is a very nice complex with great amenities. When Mystic Vistas was built next door, the setback between the 2 complexes was very short. Several of the buildings in Shorewood ended up with a view of the ocean if you leaned over your balcony. 2 units closed recently and one in the G building closed for $240,000 with 2104 sq. ft. but blocked view from Mystic and another closed in the E building for $318,000 with 1663 sq. ft. but not blocked by Mystic. Something to keep in mind.

There is a 3/2 in Stonewood on the 1st floor that is under contract with a list price of $239,000. We 1st floor owners are taking a beating.

Happy Fathers day to all the Dads!

Jim Bagwell

"In every life we have some trouble"

"When we worry you make it double" Bob Marley
I love to listen to reggae in the office but it always makes me want to be in the islands.

Windward East
The side sand dollar unit was reduced to $225,000. There were multiple offers and is now under contract. Market price is still the key. The association is also very important to every buyer or should be. The monthly dues in Windward were just raised to $330 and that takes care of the balcony restoration. There is a unit in Champanade that is on the market and the complex has always intriqued me. Very large units with all the mac daddy features but the monthlies are $799. This puts it out of reach for most buyers.

Beach Winds
If you are looking for a deal! There is a foreclosure in Beach Winds on the 1st floor priced at $209,900. This is a 3/2 and the complex is well maintained monthlies are $405.

Short Sales
There are 2 short sales under contract that if closed will change the game for the complexes. The 1st is in Wavecrest that is a 2/2 with 1568 sq. ft. List price of $255,000. The 2nd is in Sol Y Mar and features 3/3 with 2310 sq. ft. and listed at $447,000. This complex was built in 2004 with 2 car garages under the building. I can't complain since Walker Bagwell Properties have both contracts.

Enjoy the day, friends and family!

Jim Bagwell

"There are two theories to arguing with a woman"

"Neither one works" Will Rogers We have 9 female agents so I know of what I speak!

Boat races on Cocoa Beach! Now why would anyone live in a quaint little prison town like Auburn NY?

Activity

There has been a lot of activity in our comlexes. Windrush, the front unit that is a 2/2 with 1240 sq ft closed for $97,000, that is a good deal for the buyer considering the amenities and monthly rentals.

The diplomat, 2 front units sold for the list price of $89,000 and $91,000 respectively. The other front unit is under contract with a list price of $119,900.

2100 Towers, direct ocean unit went under contract with a list price of $179,000 after 46 days on the market. Mmmmmm, maybe list price does matter.

Food for thought
A lot of you have noticed and inquired about the homes that were built in S. Cocoa Beach between S. Orlando and S. Atlantic. They were originally listed for over $1M then put back on the market for $799,900. These are called single detached homes since you have 6' between homes and they all average about 3500 sq. ft., a very small pool and either a 2 car or 3 car garage. 4 just closed for prices between $480,000 and $500,000, I do believe an investor saw an opportunity.

Have a good Sunday!

Jim Bagwell

Last flight of the Endeavor"

complete with the love bugs and Ada's head

It really is very sad to see another space era come to an end. My hat is off to all the men and women who made history come to life for our area and the entire world. A great many of us live in this area simply because the space jobs brought our families here in the first place. We owe much gratitude to the pioneers of the space industry. I remember back in the day at good old Pineda elementary, they would let us out to see the rocket launches. If you can imagine all the little kids anxiously watching the skies for the launch while looking for that bright light in the east. A lot of times it wouldn’t happen since someone forgot the matches to light the thing but other times we would see it go straight up but then do circles or zig-zag until they blew it up, now that was the best for us and they would get a standing ovation. Now if you will imagine the bravery it took for a man or woman to actually say “OK strap me in this little bitty thing and shoot me into space”. As the kids say OMG!

My hope is the next generation of space will bring jobs and great minds to our area and it is already happening. In my opinion this is the greatest place to live, raise a family and retire if you are so inclined but of course retirement is for sissies. To paraphrase Gloria Gaynor “We will survive”

Ada just closed a unit at Crescent Beach club for $365,000. This was a SE corner unit on the top floor with well over 2000 sq. ft., for we Realtors this was a win win situation for the buyer and seller which is what we live for in our world.

Jim Bagwell

Listing price is more critical than ever before

The guard on the 9th hole Lakes course

Summer doldrums strike early!

Six foreclosures at the Pier Resort have hit the market. This complex is across the street from the Cocoa Beach pier. These units were built in 2007 with 3400 sq. ft., 3 bedrooms, and 3 baths with dual A/C systems and priced at $299,900 or $88 per sq. ft. This complex was just completed at the worst possible moment.

Beach winds also has a foreclosure on the 1st floor, features include 3 bedrooms 2 baths and 1464 sq. ft. and priced at $238,000.

Windrush has a nice side unit on the 4th floor and is not a foreclosure or short sale with a price of $179,000. Priced to sell!

The Diplomat unit we mentioned previously with a price of $91,000 is under contract. There is also a new listing that is a short sale with a list price of $99,900.

2100 Towers has a new foreclosure that is a northwest corner unit and features 2 bedrooms 2 baths with 1600 sq. ft. and priced at $175,000.

Listing price is now more critical than ever before.

Jim Bagwell

"We are but a moment's sunlight"

"Fading in the grass" The Youngbloods





We are definitely seeing the inventory of ocean front condos shrink dramatically. Buyers who are looking for a market priced condo with views are now having a difficult time finding that prospect. It is more important than ever for sellers, if at all motivated, to price with the market. We are going to see closings in May that will again change the game. I believe this is all good for the long term future of Real Estate and especially for we condo dwellers. In my opinion when the new construction units are sold out making the existing units becoming more desirable we will see stabilization in the condo market. You should never expect it to be where it was because it is not going to happen for a very long time and the property value explosion will never again occur in Florida. The opportunity is there right now if you seriously want or need to sell your condo, oceanfront or not.

A new listing in Windrush priced at $287,000. This is a corner unit with wrap around balcony and northeast ocean views; this unit features 3 bedrooms and 2 baths. The kitchen and baths appear to be original requiring updates.

If interested in riverfront condos, there are two new listings in Bayport in Cape Canaveral priced at $199,000 and $219,000. These units were built in 2006 with both featuring 3 bedrooms and 2 baths. They have 2032 and 2092 sq. ft. respectively and nice Banana river views. Both of these units are priced well below the pre-construction sale prices.

For those who are looking for more personal space, you could consider the penthouse listing in Ocean Club. This unit features 4 bedrooms 4 ½ baths with 4565 sq. ft. and has a maid’s suite or could be in-law suite. The unit is listed at $1,175,000.

Enjoy the day!

Jim Bagwell

"A quick 18?"

We tried to play a quick 18 on Easter Sunday but this guy was in front of us.

Some days it is worth playing golf at Cocoa beach just for the wildlife.

Windrush

A new listing on the top floor side view hit the market for $239,000.  This is priced right for a sale but expect offers.  The unit has 3 bedrooms 2 baths and 1565 sq ft.  I believe this should go under contract under 30 days.

The Diplomat

A new unit in the front buildings has came on the market.  This is the only one on the market at the present time.  Unit should get a lot of looks priced at $89,000, this is the new price of the day for the front units.

If you are buying a condo then one you should consider has came on the market.  It is in Wavecrest in South Cocoa Beach.  The unit is on the 4th floor with great views, features 2 bedrooms 2 baths and 1566 sq ft.  Now as you can see this unit has the same square footage as the Windrush with 3 bedrooms making this unit much more spacious.  It is a short sale and probably already has several good offers being priced at $255,000.

Enjoy this weather!

Jim Bagwell 

"One thing I know is true"

"When buying property, you need someone representing you"

River from Crescent Beach Club

We still get calls from potential buyers who are calling all listing agents who have listings that may have a property that meets their needs.  These buyers are doing a huge disservice to themselves and making the process so much more time intensive for themselves as buyers.  The listing agents have already established a relationship with their sellers, now as a buyer what you should do is establish a relationship with a buyers agent who will work to find a property that fits the buyers' needs.  The buyers' agent has access to all listings and can show all listings.  He or she can even build a customized link that will notify the buyer of new listings that fits their needs and will be emailed to the buyer when a new listing comes on the market.  This will save the buyer many hours of searching, a lot of phone calls and the buyer will be sure not to miss out on a new listing.

A new listing in Stonewood has came on the market.  This listing is in the B building which is the oceanfront building.  The unit is a 2 bedroom 2 bath on the 10th floor with 1317 sq ft.  You can count on great views and this price is the lowest for the B building in a very long time.  $279,000!!! 

I do believe you have some time to get that good deal before the turn, however when priced to sell the properties are going quickly.

Jim Bagwell

"Price it right and they will buy"

There has been a lot of talk amid a lot of frustration that the market is on the rebound.  I believe the reason that there are buyers in the game again and the inventory is getting lower is lower prices.

The Sand Pebbles we talked about last week is under contract after 5 days on the market, priced at $169,900 side ocean view.  The Royale Towers we talked about the week before is under contract after 10days on the market, priced at $199,900 side view on the ocean.

The good news is that the inventory is definitely lower on the beachside and if priced according to the comparables they are getting looks and offers.

I believe we are going to make it.

Jim Bagwell   

"Success is not final, failure is not fatal"

"It is the courage to continue that counts"  Winston Churchill , Those words really counted during that time, he wasn't talking about Real Estate prices.

This is Sand Pebbles condos in Cape Canaveral.  A new side view unit just listed for $169,000 in a ocean front complex with 2 bedrooms 2 baths,1 car garage.  The complex dues are $300 monthly and monthly rentals are allowed.  A picture of beach at the end of post.

It wasn't very long ago that buyers would always call and say they wanted a condo on the beachside for under $100,000.  We would always have to say we didn't have anything available.  Today we can spend 2 days showing what is available for 2 bedrooms 2 baths non-waterfront under $100,000.  I know it is rather depressing what has happened to property values but it is rather exciting to be able to help so many more buyers.

Picture of Sand Pebbles Beach

Stay dry, at least it doesn't have to melt!

Jim Bagwell
 

"It's better to burn out than to fade away"

Neil Young, these words became legendary when they were left as part of Kurt Cobain's suicide note.  From that day forward Neil Young always emphasized other lyrics "Once your're gone you can't come back".  You never know the effect of your words, personal commication remains superior to emails and texts'.

The white pelicans have gone back to the north.  Interesting to note that these birds don't dive for fish like our brown pelicans, they herd fish similar to what dolphin do to feed on fish.

Nothing new in the complexes we have been talking about recently.

For those thinking the prices of sales on the top floor of Windward East were low, it may turn out they did very well.  A Waters Edge top floor with 1350 sq ft and 2 bedrooms 2 baths just closed for $250,000 fully furnished.  Unit features great ocean and river views.

As far as side views go, A Royale Tower side unit just closed for $165,000 with 1256 sq ft 2 bedrooms 2 baths.  This sale caused a unit on the same floor to be listed at $179,000.

We will continue to see sales of condos increase as the prices drop.  A lot of people blame foreclosures on the prices being offered but the truth is there are as many 2nd home owners just choosing to sell their units .

What a georgeous day in Cocoa Beach!

Jim Bagwell
  

"You always get what you pay for"

SUNRISE FROM WINDWARD EAST

WINDWARD RUSH

The side unit that was listed for 2 years with the service that charges to put listings in MLS with that being their only service has finally gone with a full service realtor and a significant price decrease.  The unit is on the 2nd floor with side views 2 bedrooms 2 baths now listed at $209,000.  Now it doesn't take a lot of thought to recognize the money that has been lost with condo dues and taxes more than makes up for the commission to be paid at closing.

WINDWARD EAST

Another top floor sanddollar has closed for a sale price of $290,000 and was listed at $299,900.  That makes 3 sanddollar floor plan units that have sold in Windward in the past year.  The 2 top floor units sold for $290,000 and $299,000 and the one on the 4th floor sold for $265,000.  One side unit has closed for $200,200, this was the foreclosure and wasn't a sanddollar with 1316 sq ft.

The moral of the story is don't waste too much time at the top of the price range if you are serious about selling.  Condos are selling if priced competitively.

Jim Bagwell  



"You can't always get what you want"

"but if you try real hard"  The Rolling Stones

If you look real hard and squint you can see my glimpse of the Discovery.  Bummer!!

The Diplomat

The last active front Diplomat is now under contract.  The list price was $84,900 and it will probably close very near that price.  In the past year there have been 7 of these units sold for an average sale price of $83,800.

2100 Towers

Amazingly only one has closed in the past year and it was a corner upgraded unit and sold for $350,000.  There are 3 under contract priced at $159,900, $169,900 and $199,900.

Windward East

2 direct ocean units sold in the past year at sale prices of $299,000 for top floor and $265,000 for a 4th floor and both units had the sanddollar floor plan.  One side unit also sold for $200,200, this was the foreclosure.

Windrush

2 sales in the past year, one direct sold for $300,000 and one side for $207,500 which was a short sale.

The corner units still bring the better prices and the only corner listed above was the 2100 for $350,000.

There was recently a Ocean Paradise in south Cocoa Beach that closed for $395,000. This is a new unit with 2134 sq. ft. direct ocean and includes a membership in the new clubhouse and marina being built on the river.

Thanks

Jim Bagwell    

"There are only two mistakes one can make along the road to truth"

"Not going all the way, and not starting" Buddha

I realize that a lot of people have a negative view of Realtors and it is our own problem.  I have found that if the owner doesn't realize what has happened to the market then it is fruitless to give the owner false hope of getting the price they desire rather than market value.  This sometimes make us look very bad and the worst part for we Realtors is that eventually the owner will talk to a Realtor who will give them a true picture of what their unit is worth today.  The new Realtor can list at a lower price and sell and the origninal agent has already spent their marketing budget.

The foreclosure listing in Windward East has finally closed.  The unit was listed at $199,900 and sold for $200,200, I would assume there was a multiple offer situation.  I kept telling everyone this was a good deal.

The listing on the SE corner of Windrush is still on the market and is now reduced to $399,500, it has been a year on the market and originally listed at $485,000.

Jim Bagwell   

"Somewhere a Queen is weeping"

"Somewhere a king has no wife, The wind crys Mary"  Jimi Hendrix 

Picture is from a Windward East ground floor unit at sunrise.

Nothing new in our complexes.

There is a new side unit with good views of ocean, 2 bedroom 2 bath unit in Royale Towers priced at $199,000.  This is comped to the foreclosure in Windward East which makes it a very good comparable.  This is a popular rental property as well with one month minimum.

There is also a new foreclosure in River lakes.  River Lakes is on the river in south Cocoa beach with views of the thousand islands.  Complex also offers boat slips on a 1st come basis with very good fishing.  The condo is on the 3rd floor and priced at $115,000.  That is a good buy!

Enjoy your day!

Jim Bagwell    

Cocoa Beach Condo living

This picture is from Crescent Beach Club in South Cocoa Beach.

One of the most asked questions we receive is “Is it wise to buy a condo with all the problems with condo associations”. This is a very legitimate question, with the prices the way they are currently then my answer would be a resounding “yes with conditions”. The conditions are that your agent does his or her homework and serve you as a buyer agent. Your agent must request the budget, financials and at least 3 months of minutes. They should also find out the foreclosure rate in the association, this will help with a mortgage. The minutes will tell you if the association is considering an assessment for maintenance. If you cover your bases’ then it is a good time to buy a condo and wake to the sound of the ocean.


There is a 3 bedroom 2 bath unit in South Cocoa Beach that has been recently renovated and priced at $309,900. This unit has underground parking and the section of the beach is very quiet with limited public parking so it is a great place for surf fishing, surfing or relaxing.

There is another unit in Cape Canaveral in a gated complex on the river with a boat slip. This unit is a 2 bedroom 2 bath unit and priced at $113,000. Unit is on the 2nd floor so you will have canal views and this is a great place for manatee watching and cruise ships views.

Call today and I will email you a complete list of available condos in all price ranges.



Thank you

Jim Bagwell

Broker

Walker Bagwell Properties

321-213-0615

"Cause its a silent night in the sea"

"and if you're cosmic'ly conscious you'll see"  The Beach Boys

Picture is from the 7th tee box on the river course Cocoa Beach
Thank goodness there were no injuries in the 2100 Towers fire and the damage was contained to one unit.  Sprinklers do work!

There is now only one Diplomat listing on the market, it is in the front buildings and priced at $84,900.  It now seems this is the market price for the front units.

There is a new listing in Windward East.  Another 1 bedroom 1 bath direct ocean, 4th floor and priced at $179,900.  Now there is this one and another on the top floor priced at $199,900, these units do have around 900 sq. ft. which makes them nice for a winter retreat and rent the rest of the year.  This has been a good winter to have a retreat for our northern neighbors. 

So far in 2011 in all of the Cocoa Beach/Cape Canaveral area (waterfront or not) there have been 42 condos sold.  These have sold for $17,900 small unit in Cape Canaveral all the up to $545,000 for the Meridian that we have mentioned before.  The interesting fact to me is that not long ago most oceanfront condos sold between $300,000 and $400,000.  So far this year no condo has sold in that price range, the most popular selling price is between $200,000 and $300,000.  Of the 42 sales, we had the one at $545,000 and one at $440,000, both of these are newer units with over 2000 sq. ft.

Enjoy the Super Bowl and the commercials

Jim Bagwell 

 

"I'll make you banana pancakes"

"Pretend like it's the weekend now"  Jack Johnson
It is a good day to stay in bed, brrr.  Florida was the only state in the union without snow on the ground yesterday.

We are officially over the holidays and it is time to get back to full time work!

The picture above is of Crescent Beach Club in south Cocoa Beach.  We sold a unit there this month for $249,000 with 1800 sq ft, 3 bedrooms 2 baths and great ocean and river views.  A great deal for the buyers and they are fantastic people and will be welcome additions to Cocoa Beach.  This condo is one of 6 that has closed this month.  The 6 range from $61,000 to $545,000 (Meridian we talked about last post).  The other 4 are non-oceanfront.

Our complexes have remained steady.

2100 Towers

The unit on the 4th floor side views is a foreclosure and is under contract.  List price is $169,900.

Windrush

Side unit on 3rd floor is a short sale listed at $209,900 and is under contract.

Windward East

The foreclosure on the top floor is finally under contract.  Listed at $199,900, this will be a good buy regardless if full price or not.

It is the time of year to make your tee times ahead of time at Cocoa Beach.  The greens have been sanded but they are in very good shape.

Jim Bagwell

"A time to gain, a time to lose"

"A time to rend, a time to sew"
The Byrds

What we are seeing now is a lot of sellers chasing the market. As you have seen the most changes in listings in our complexes are price reductions. Some of these listings have been on the market for 1-2 years, thinking the market will come up to their needs. As far as the market coming back it appears that it is, however the prices are not going up any time soon. Now of course I wish it was different since I bought our condo at the peak of the market and at the time it seemed like a good idea.




One new listing in Windward East; 2 bedroom 2 bath, top floor with 1394 sq. ft. and features sandollar plan and a 2 car garage. Naturally this unit has great views and priced at $299,900, if you comp it to 703 with the same floor plan, 1 car garage with sale price of $299,000 then this unit is priced right. There may be a few disappointed buyers when they first see the unit and the kitchen in the listing is of our clubhouse. I am proud of our clubhouse as well but all you have to do is label the pictures to avoid confusion.



A couple of weeks ago I remarked that The Meridian had one of my favorite pools, a unit on the 3rd floor just closed for $545,000. It is an interior unit with 2180 sq. ft., unit was owned by a realtor which was purchased in 2007 new for $679,900



I hope you all have a happy, healthy and prosperous 2011. As Ada told me, today is 1/1/11!



Jim Bagwell