"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