"Birthday party, cheesecake, jelly bean, boom!"

" You symbiotic, patriotic, slam, but neck, right? Right. It's the end of the world as we know it and I feel fine."  R.E.M  I would have to give this one to the new age people, new beginning instead of the end.

Nothing new in our complexes to report.

We do have a listing in Riomar in south Cocoa Beach.  This unit has been recently reduced to $719,000 and the seller is motivated.  This unit was built in 2003 and has been totally renovated.  This unit is 3000 square feet of luxury with 4 bedrooms 3 1/2 baths and comes completely furnished with high end furnishings.  It is on the 2nd floor with fantastic views of the ocean.  I have attached a couple of pictures.

Enjoy the winter it won't last long!

Jim Bagwell
 

Snowbirds are coming!

Make your tee times early!
I love our winter vistiors.

Ada and I don't do a lot of river front condos but this is a new listing that shows like a home.  It is located in River Bend in South Cocoa Beach.  The picture is of the beach view from the balcony, it has a even better river view.  This is a top floor with 3 bedrooms 2 baths and listed for $315,000.  Tour attached;


Speaking of Snowbirds;  I am continually amazed at the visitors at The Diplomat greeting each other on the boardwalk when they arrive.  This has proven to be one of the most popular and affordable winter destinations in Cocoa Beach.  There is one more new listing in the front building priced at $130,000, the prices may be creeping up a little.  In the last 3 years there have been 6 oceanfront units sold in The Diplomat, that is out of 26 oceanfront units.  There have also been 19 units sold in the front buildings, with a total of 144 units in the front building.

I am also attaching the tour of Windward East 208 for your preview.  This unit shows very well.
 

Thank you and enjoy the 80 degree weather before tomorrow.

Jim Bagwell

"Spend 80% of your time"

"focusing on the opportunities of tomorrow rather than the problems of yesterday"
Brian Tracy

Well the year is coming to a close and I can't believe 2013 is a couple of weeks away.  Thankfully it has been another good year for Walker Bagwell Properties and we thank all our friends and clients.

The Diplomat; the unit that went under contract in one day listed for $75,000 sold for $70,000.  The new one that came on the market for $125,000 is under contract and will close by the end of the year.  There have been 6 units sold in 2012 including one oceanfront at an average price of $135.11.  The front buildings are going quickly as I think the prices have bottomed and look for the prices to increase in small increments.

2100; there have only been 3 sales in 2012.  2 with 1400 sq. ft. and 1 with 1600 sq. ft.  Average price sold was $123.98 per sq. ft. , you will probably see a couple more foreclosures and then the prices will bottom.

Windrush;  this has been the hot complex for 2012 with 8 units sold including 1 front unit, several side units and a couple of direct ocean units, average price of units sold was $148.06 per sq. ft.

Windward East; Windward only had 4 sales in 2012.  The units sold including 2 side units, 2 oceanfront units and 1 of these was a 1 bedroom on the top floor.  Windward also had the highest price per square foot at $179.99.

If you read the Florida Today on Saturday, the penthouse in Villa Verde was featured.  The unit that we listed is in that building, our unit has 2500 Sq ft with 3 bedrooms and 3 1/2 baths and all the bells and whistles that the most high tech person could ever want.  attached is the Visual Tour of this unit.  Call Jim or Ada to see this unit.



Get your shopping done unlike me!

Jim Bagwell

"And you always seem to be outnumbered,"

"You don't dare make a stand"
"There I go again"

"Turm the page"  Bob Seger

It is hard to turn the page on the tragedy in Conn. killing is senseless but when it is kids and teachers it seems even worse.  We still have kids dying everyday in Afghanistan and a lot of them are killed while trying to protect their comrades.  Now we have a school principal dying while trying to overtake a gunman and a young teacher dying while putting herself between the kids and gunman while getting her kids into a closet.  My heart goes out to all the victims and their families.  This should be a life changing experience for all of America.

Back to Real Estate in a few days.

Jim Bagwell

You might be a redneck

If you have 2 garbage trucks in your Christmas parade!

Just kidding, I love our parade.  It gives you a chance to get with friends that you haven't seen in a long time.  This year Ada and I watched from the patio of Pig & Whistle, a great place to enjoy fish & chips with a cold beverage.

Enjoy the Sunday!

Jim Bagwell

"If I had to live my life again,"

"I'd make the same mistakes, only sooner"  Tallulah Bankhead  The lady must have been a walking sound bite.

I do believe The Diplomat reached a price point where buyers realized the could have a 2nd home in an oceanfront complex and with weekly rentals almost pay for the use of it themselves.  Another new front buiilding condo came on the market and went under contract in a couple of days.  The list price was $125,000.

The unit in Windrush is still on the market priced at $222,000.  This is a ground floor NE corner with 3 bedrooms 2 baths.  I still think this would be a good buy.

In Windward East 208 and 408 are still available and priced at $239,000 and $235,000 respectively.  208 is ready to move into with some updates, they are both 2 bedrooms 2 baths.  I believe in January they will both be gone.

The picture above is of Villa Verde in south Cocoa Beach.   This complex was built at exactly the wrong time and went to receivorship.  All the units now have been sold and we have a resale coming on the market on Monday.  These units are macdaddy if any unit in Cocoa Beach is, the features are 2 numerous to list but stay tuned for the visual tour.  The unit is on the 2nd floor NE corner and will be listed at $429,000.  3 bedrooms 3 1/2 baths with 2875 square feet.  Across the street from ocean with some views, the pool and exercise room are on the river.

Enjoy

Jim Bagwell

"Hell is a popping"

I quote my dear father.

Cocoa Beach water hazard!  Ada and I were on the lakes course hole 9 when we saw this guy sunning himself.  It was a great day for sunning.  If you want to have a laugh just wait till some guy goes to retrieve his ball from the water and one of these guys does a flop.  I know I have issues but have to laugh every time.  I love to hear men squeal like girls.

We now have 10 active listings in our 4 complexes with 3 in Windward East, 3 in Windrush, 3 in 2100 Towers and 1 in The Diplomat.

The Diplomat;  there was a listing that came on the market in the front building that needed complete renovation listed at $75,000.  It went under contract the same day.  I would think the agent already had a buyer before they put it on the market.  I believe I could easily renovate a Diplomat for under $25,000 and then you could have a great unit for rental income.

Windward East unit 406 is still on the market for $325,000.  There has to be some unknown circumstance on this unit as it has been on the market for 837 days.  The unit is dated but with great views.  I am going to do more research.  This unit should sell!

Enjoy the weekend!

Jim Bagwell

Sitting on top of the World

Not on top of the world but the top of Cocoa Beach!
New listing in 2100 Towers that is on the 12th floor.  This unit is only 1600 square feet with 2 bedrooms 2 baths but you are buying the views and wrap around balcony, listed at $499,000.  This unit is a NW corner so the views to the north and the river are incredible.

There is also a new listing in The Diplomat priced at $125,000.  The unit is in the front buildings on the north side.  The unit appears to be in pretty good shape but priced above the comps.

Enjoy a great weekend of football!

Jim Bagwell

Hot off the press

This just in, there is a new listing in Windrush that is ground floor with 3 bedrooms 2 baths and over 1600 square feet.  This unit is priced at $222,000.  This is a very good price and the dunes are well kept unlike Windward East therefore the views are much better.  This one won't last long as it is a NE corner unit and walk right out to the beach.

Act today!

Jim Bagwell

"They'll stone you when you're tryna make a buck"

"They'll stone you and then say good luck"  Bob Dylan from Rainy Day Women

View from Windward East of sunrise unit 208, priced at $239,000.

There is a unit in Windrush with good side views on the 6th floor just listed for $285,000.  This unit features sand dollar floor plan with 1517 square feet, the unit is under contract after 6 days on the market.

Another unit in 2100 is also under contract with a list price of $175,000.

This must drive appraisers crazy.  A unit in Windrush showed up on my hotsheet as a new closing.  Now I am thinking, there wasn't one under contract so much to my surprise the unit closed in May 2012 but didn't get closed on MLS until November.  Hopefully most appraisers didn't take the MLS route but used Brevard County Appraiser site or they would have missed this one.  The unit was a side unit on the 5th floor listed at $200,000 and closed for $199,500.

Enjoy the day!

Jim Bagwell 

"Political language..."

"is designed to make lies sound truthful and murder respectable, and to give an appearance of solidity to pure wind."  George Orwell

The Cocoa Beach election turned as ugly as the national election with accusations and allegations flying everywhere such as stalking, sign stealing and mud slinging.  I am glad it is over for awhile.

One new listing in Windrush a side view unit on the 6th floor features sand dollar floor plan and priced at $285,000.

Another unit in 2100 went under contract it is a 2nd floor unit with 1600 square feet, 2 bedrooms and 2 baths.  The list price was $175,000.

Jim Bagwell

"People's number one fear is public speaking"

"Death is number two.  That means if you go to a funeral, you're better off in the casket than doing the eulogy."  Jerry Seinfield  Jerry is coming to the King center in 2013 tickets start around $75  Wow

Where are the investors?  Sign is on .71 acre on the ocean, bank owned and priced at $950,000.

Still nothing new in our complexes, the 2 under contract closed in 2100 Towers and that leaves 8 active listings in our 4 complexes and none under contract.

It was a busy October for oceanfront listings with 17 new listings priced from $124,900 to $549,000 or $208.37 per square foot.

There were 15 sales of oceanfront condos in October priced from $65,000 to $690,000 or sold at $195.69 per sqare foot.  I am proud to say that Walker Bagwell Properties participated in over 30% of these sales.  If you use these actual figures then a condo like the one we have listed in Windward East on the 2nd floor with 1314 square feet should be priced around $257,000, since it is a side view we have priced it at $239,000.

Just food for thought!

Jim Bagwell

"I read Shakespeare and the Bible, and I can shoot dice"

"That's what I call a liberal education"  Tallulah Bankhead

Storm damage from Sandy, these palms were just planted!  Just kidding, glad no damage.

We have changed a lot concerning storms, schools were closed Friday, Ada and I were having lunch at The Mango Tree on Friday and the owner said that they had 50% cancellations of dinner reservations.

On a somewhat positive note, a friend from NY called to say he had a spritual awakening while on the Cocoa Beach Pier watching the waves coming in from Sandy but then he tells me the awakening happened when they were leaving and he saw the hot weather girl from NY coming out of the gift shop.  His name is withheld to protect the innocent namely his wife.

Good day to stay inside, cook a pot of chili and root for the Gators!

This picture is from Frances in 2004!  That was not a good year!

Jim Bagwell
 

"Time is on my side"

"Yes it is"  The rolling stones. The Stones going on tour again, I think at some point the walkers are going to get in the way.

Time is of the essence!  This is never more true than in Real Estate.  One of the requirements of an offer on Real Estate is the offer is presented in a timely manner.  It drives me crazy when a agent presents an offer to the listing agent and it could be another day or two before they present.  This is totally unacceptable.  Another thing is fax machines.  We do a lot of short sales and most banks won't even look at faxes, it has to be scanned and emailed.  This method is much more effecient and more readable.

Still only 8 active listings in our 4 complexes.  Windward East has been reduced to $239,000 which is a fair price.

Jim Bagwell

"Beer is proof"

"the good Lord loves us"  Benjamin Franklin

In our four complexes there are now only 8 active listings.

2100 Towers 305 closed for $168,000, the unit was listed at $168,500. No view but 1400 square feet with 2 bedrooms 2 baths and showed great.

Windward East 208 has been reduced to $239,000.  2 bedrooms 2 baths, updated with southern ocean views.  Don't wait!

Attached are the numbers for September and as you can see everything is up except for affordability index, Homes for sale and months supply of inventory.  I think this is positive for everyone except we need more listings.

Enjoy the cool!

Jim Bagwell

"I would give a thousand furlongs"

"of sea for an acre of barren ground." Shakespeare
Yes I can quote Shakespeare but only pertaining to Real Estate.

Picture is of the beach access on a piece of land that we have listed on Ocean Beach Blvd.  This piece of property is .71 acre of buildable oceanfront land.  The property is zoned multi-family and currently is approved for 7 units.  The lot has been cleared and ready to build.

The property was puchased by a very successful local developer in 2006.  At the time of puchase there were 2 apartment buildings on the property facing north and south.  The developer demolished the buildings and cleared the lot.  Unfortunately as we all now know this was the worst possible time in the Real Estate market.  The purchase price in 2006 was $2,600,000.  The property is now bank owned and listed at $950,000.

My thoughts are as follows;  Almost all experts agree the Real Estate market is coming back slowly.  If a buyer could get this property for $900,000 and held it for 5 years then I feel there is a strong possibility that the lot would be worth $1,200,000 or a 30% return on your investment, much better than the stock market or bank interest.  There also is a complex about 1/4 mile south of this lot that was developed around 2006.  This complex contain 8 units that are upscale condos on the ocean. The units have been on the market since completion and a few have been sold.  The creative thing the owners did was obtain a variance from the city and converted the building to weekly rentals and are now renting the units out by the week to acquire cash flow until the market catches up with the complex.  Precedent may have been set in order to build weekly rental complex on the bank owned lot which could prove to be a cash cow.

Strong Possibilities

picture of lot.

Thanks
Jim Bagwell

"In the middle of difficulty lies opportunity"

Albert Einstein

The weather is getting nice enough to sit outside at Heidi's and have lunch or dinner.

This was a great idea for allowing Heidi's to do this with outside dining and it seems it requires a great deal of perserverance to acheive change.
There was a great push for the mixed use amendment for Cocoa Beach and it finally was approved.  If you will notice there have been very few changes.  A local businessman is planning on building a mixed use building on N. Orlando that will have a business on the bottom and an apartment on the 2nd floor with a balcony over the sidewalk like you would see in Key West or Charleston.  I think that will look great.

The city elections are coming up and it seems the parties are getting rather intense on both sides.  Cocoa Beach is a very small town and as in every small town the local politics are limited to a distinct group of people who have been around a long time.  It seems strange for me to say this but a realtor is running for mayor and I have conflicted views on this.  I, being a realtor, feel that I would want to make sure that all decisions made for other people are unbiased and made for the majority.  I just feel that there would be too many opportunities for a conflict of interest.

Just one fool's thoughts

Important thing is just to vote!

Go Gators

"Only good girls keep diaries."

"Bad girls don't have time." Tallulah Bankhead

Walker Bagwell Properties listed and sold unit 207 in Windward East in 55 days.
The condo is a SE corner with 3 bedrooms 2 baths.  Listed at $349,000 and sold for $335,000, I love it when the buyers and sellers are happy.

In addition to unit 208 with a list price of $247,000 reduced we have unit 408 listed at $245,000.  Both units have nice southern views with 2 bedrooms 2 baths.  Both units are in Windward East.

The most popular search for a condo in Cocoa Beach is a direct ocean with 2 or 3 bedrooms on the 3rd floor or higher and priced between $270,000 to $365,000.  Right now there are 10 of these in Cocoa Beach but really 3 of these are side views that are called direct ocean.  The average price is $339,000 but buyers today are much more knowledgeable about associations and what it takes to get a mortgage.  The fees of the active units run from $300 monthly to $525 and some associations don't have reserves or insufficient reserves to acquire a mortgage.  A lot of lenders today have their own questions for associations and in addition the prospective buyers have 10 days to examine documents, budget and financials.  2 of the active listings are in The Mark and The Crossway which are very hard sells because of their 60's style construction.  It used to work but not so much now.

Have a good one and vote!

Jim Bagwell

"Bye Bye Birdie"

Endeavor's last flight, kind of sad.

We do have a couple of new listings in our complexes.

2100 Towers  3rd floor 2 bedroom 2 bath unit with 1400 square feet.  Listed at $168,500.
Of our 4 complexes 2100 has probably had the most foreclosures which does affect the property value.

We have a new listing in Windward East on the 4th floor.  This unit is one in from the oceanfront with southern views.  2 bedrooms 2 baths with 1316 square feet, list price of $245,000.

Air show this weekend, traffic will be crazy with drivers and pedestrians.  Enjoy the show and be careful.

Jim Bagwell

CONDO FOR SALE INVENTORY DOWN OVER 40%

I have attached a chart from our MLS to show what we have been talking about with reduced amount of condos for sale.  Single family homes are also down in inventory but not as much.

The picture above is of a unit for sale in South Cocoa Beach.  The unit is in the Champenae complex, 3 bedrooms 3 baths with 2256 square feet, fireplace and 2 car garage under the building.  The unit is priced at $479,000 and it is impressive that the agents and owners are very forthcoming about the reason for pricing.  The monthly fees are $975 which is due to an active lawsuit against the builder.  The fees are normally $799.  It seems they have had problems with the roof and windows, the roof has been replaced in 2011.  The complex was constructed in 2000.  This is not an unusual situation with recently built condos and we know of several other buildings that have had the same problems.  Naturally only cash offers accepted since there can't be a mortgage with a pending lawsuit.

attached inventory charts.

Stay thirsty my friends

Jim Bagwell

"We have an opportunity for everyone in the world"

"to have access to all the world's information.  This has never before been possible.  Why is ubiquitous information so profound?  It's a tremendous equalizer.  Information is power."

The reason I use the quote above is the Windward East unit 604 closed for $252,000.  This unit is a 2 bedroom 2 bath unit that is not in bad shape with beautiful views of the ocean.  This is the unit we have talked about that had agent remarks that the foreign owner can't sell to an investor.  This is just not true and guaranteed caused the foreign owner to leave thousands on the table because of the agent.  One of our partners has a slogan that says "The agent does make a difference"  never so true.  Any owner can sell to anyone.  Tax drives our country and all you have to do is follow the rules.

Windward East 110 sold for $195,000.  This unit is a 2 bedroom 2 bath unit with 1418 square feet.  No view but a good transaction for buyer and seller.

Excuse my frustration.

Jim Bagwell

"Don't wanna be a bum"

"You better chew gum"
"The pump don't work"
"Cause the vandals took the handles"
Subterranean Homesick Blues   Bob Dylan 

Our barrier island

Update

In our 4 complexes there are now 6 active listings.  1 in The Diplomat, 1 in Windrush, 1 in Windward East and 3 in 2100.  Priced from $168,500 to $249,000.

We have 5 under contract.  3 in Windward East and 2 in Windrush.

Insurance

I don't think we had any damage from the storm that came through in our condos but some homes had some damage from storm bursts during the storm.  Some insurance companies have denied claims due to hurricane deductible.  The insurance commission has notified all companies that 98% of Florida didn't have a hurricane, we had a tropical storm and the hurricane deductible doesn't apply.  They do try their best not to pay.

Enjoy a hot dog for labor day!

Jim Bagwell

"Average U.S. rates on fixed mortgages have risen"

"for a fourth straight week,remaining slightly above record lows.  (3.66%) can you imagine rates have risen to 3.66% Wow

Picture is balcony view from our new listing in Windward East 208.

This unit is in great shape and shows very well.  AC new in 2009, new electric shutters and upgrades on the floor and bathrooms.  2 bedrooms 2 baths 1316 square feet, unit located one in from oceanfront building and priced at $249,000.

STATE OF THE MARKET

Almost every Real Estate site states that home sales remain steady and prices have risen slightly.  What is not taken into consideration is the fact that Real Estate is very location driven.  What is happening in Kentucky has very little to do with what is happening in Florida.  Believe it or not what is happening in Cocoa has nothing to do with what is happening in Cocoa Beach.

At the present time there are 93 active oceanfront listings in Cocoa Beach.  As of 08/27/12 there have been 105 oceanfront condo listings sold in Cocoa Beach.  If we had our usual supply of listings in Cocoa Beach, we could be in a full blown recovery.

Good day to stay home and sleep in Cocoa Beach.

Jim Bagwell  
  

"You say what's mine is mine"

"And what's yours is mine too"
"Now you've got more than you can spend"  Ben Harper if you like Jack Johnson then you would like Ben Harper

Summer is usually our slow season but lately things have been hopping in Cocoa Beach.

In addition to the Windward East unit 604 being under contract.

4 more condos have gone under contract in our 4 complexes in the month of Aug.
2 in Windrush with list prices of $299,000 and $345,000 and 2 in Windward with list prices of $209,000 and $345,000.

End units are still the most sought after properties since there are so few left on the market.

There are presently 2 active units in 2100 priced at $189,000 and $239,900.
One oceanfront Diplomat priced at $249,000.
One in Windrush priced at $169,000, fully furnished front villa.
One in Windward East priced at $325,000.

We will have another end unit on the market in the next couple of days.  This unit has newer AC, newer shutters, very well maintained with very good southern views of the ocean.   Act quickly!

Jim Bagwell

"Come out Virginia, don't let me wait"

"You Catholic girls start much too late"  Billy Joel

Picture is from the balcony of Windward East 207.  This was a new listing, the unit is a SE corner unit with 3 bedrooms 2 baths and over 1700 sq ft.  This unit was listed at $349,000 and is now under contract.

2100 Towers, a listing that is back on the market.  A corner unit with 1600 sq ft.  This unit has a wrap around balcony and is listed at $189,500.

New Scam

With all the public information available it is hard to keep up with the scams.  I know you all have discovered you are a prince or princess from Nigeria and claim millions  A new one that is well thought out is one in which someone closes on a property and has to wait on their warranty deed.  Your deed will be mailed to you but could take 30 days to receive.  Some misguided individual is sending letters to the new owners from Tallahassee or D.C. of course and states that you need to send them around $80 and they will send you the deed.  Please don't pay any money to these people, the title company requests your deed but it will take some time for you to receive it.

Have a good one!

Jim Bagwell
 

"Its a beautiful morning"

"Think I'll go outside for awhile and smile"  The Rascals

Just another day in Cocoa Beach!

We finally saw some activity in our complexes.  A new listing in 2100 Towers, 5th floor direct ocean with 2 bedrooms 2 baths and 1400 square feet.  List price of $239,900.

Windrush, the listing on the 2nd floor direct ocean with 2 bedrooms 2 baths and 1444 square feet has gone under contract.  This unit was a sand dollar floor plan, completely renovated with a list price of $299,000.

Windward East, unit 604 finally went under contract after 707 days on the market.  The list price was $272,000 when the contract was received.  This unit is a 2 bedroom 2 bath with 1240 square feet and direct ocean.  This is the unit that under agent remarks said "Foreign seller cannot sell to investor".  You can sell to an investor if you follow the rules of FIRPTA.

To understand our inventory decline

There are 92 oceanfront condos on the market in Cocoa Beach.  So far this year there have been 93 oceanfront condos sold.

Single family homes are even worse as there are 36 homes on the market in Cocoa Beach.  So far this year there have been 68 homes sold in Cocoa Beach.

Enjoy the weekend!

Jim Bagwell


 

Thousand Islands

This picture will help to understand why the refuge is called Thousand Islands.

Still only 7 units active in our 4 complexes and none in 2100 Towers.

Interesting enough, there have been 14 units closed this year with none in 2100 Towers that were listed on MLS.

Windward East, Ada has closed the only one this year and that was the 1 bedroom 1 bath unit on the top floor.  This unit sold for $175,000 or $194 per square foot.

Windrush, 7 units have sold with one of these being in the front buildings.   If I throw out that unit, the average sold price would be $146.15 per square foot.

The Diplomat, 6 units havc sold with one of these being oceanfront.  This unit sold for $200,000.  If I throw this unit out the average price per square foot would be $121.93.

This is surprisingly accurate so you can do your own CMA.

Inventory is still jumping off the market.  I only hope the next wave of foreclosures won't be as severe as some are predicting.

Enjoy the weekend!

Jim Bagwell

"You know it balances on your head"

"Just like a mattress balances"
"On a bottle of wine"
"Your brand new leopard-skin pill-box hat"
Bob Dylan 

Still not much going on in our complexes.
There is a new oceanfront listing in The Diplomat.  This is a top floor which is 3rd floor in The Diplomat.  The unit is a 2/2 with 900 square feet, priced at $249,000.  Great views!

The investors are certainly back and not much to buy on the beach side.  Ada has sold 4 income properties in the last month.  These properties include 2 condos, 1 6-plex and 1 8-plex.

Jim Bagwell

"In the middle of difficulty lies opportunity."

Albert Einstein

Ada and I clebrated our 28th anniversary with a biplane ride with a loop and roll.  It was a blast but with the loop and roll we had to wear a parachute, hmmm.  We did get a 2 minute class on how to deplane.

We now have 6 active listings in our complexes.  All are in Windward East & Windrush.  No listings in The Diplomat or 2100 Towers.

New listings include Windward East 1st floor side unit that is listed at $209,000 and a Windrush in the front building that is a 1st floor unit with a price of $169,000.

In the four complexes in 2012 there have been 14 sales.  The latest 2 were both in Windrush.  One is a 1st floor SE corner, direct ocean and closed for $206,000.  The other is a 2nd floor with 1852 sq ft, 3 bedrooms 2 baths and wrap around balcony.  This one closed for $200,000.

Enjoy the day.  I spoke with a client in Chicago last week and he was traveling to Florida to escape the heat.

Jim Bagwell 

Homes for sale inventory shrinking

This was the headline of a story in the paper today.  It has never been more true than in Cocoa Beach.  The inventory is even smaller in the condo market.  In the four complexes we talk about there are now only 4 condos on the market.  Two in Windward East and two in Windrush.  All are direct ocean and priced from $272,000 to $345,000.  In all of Cocoa Beach there have only been 53 new listings this year on the ocean and 69 oceanfront condos have closed this year.  As of this posting there are only 91 active condo listings on the ocean in Cocoa Beach.

This picture is of the beach access on a vacant lot we now have listed on Ocean Beach Blvd in Cocoa Beach.  The property is zoned multi-family which has been cleared and ready to build.  This parcel in 2006 was purchased for $2,400,000.  It is now listed as bank owned and listed for $995,000, if you know any investors please tell them about this property.

Walker Bagwell Properties now has a new facebook page at www.facebook.com/pages/walker-bagwell

Thanks

Jim Bagwell

How do you handle multiple offers on a property?

I was recently asked this question?  The way it should be handled, in my opinion, to be fair to all parties is to inform all parties of the situation and to ask for their best and final offer as far as price and terms.  I am not saying this is always how it is done but it should be the way.

Picture is of the living room view of a new rental listing we have in Windward East.  The unit is a 3/2 sand dollar with brand new carpets and laminate floors.  The unit is unfurnished and will make someone a wonderful home for the long run.

The unit in Windrush that is a direct ocean 2/2 with 1444 sq ft has closed for $273,500.  The unit was only on the market for 19 days.  This condo was on the 6th floor with great views.  The big difference between Windrush and Windward East is the monthlies, Windrush is $390 and Windward is $335.

Enjoy the boat races and car show!

Jim Bagwell

Boat races Cocoa Beach this weekend

Although good for the economy, get ready for that crazy traffic.  Lets hope we have a sunny weekend with no wind!

Nothing new in our complexes except that the 5th floor side unit in Windrush closed for $199,500, the unit was listed for $200,000 with 2 bedrooms 2 baths.

Interesting to note that on MLS, there are no new construction ocean front condos on the market.  The closest is the site between Minuteman and N. 1st st.  They are planning to build a new small complex if they can sell enough pre-contruction units, the one that is listed is a 2/2 unit with 895 sq ft, direct ocean and listed at $277,000.  If you will remember this is the site where the complex was so severely damaged in the hurricanes that they tore it down.

Enjoy the day!

Jim Bagwell 

"Eight day a week"

"Is not enough to show I care"  The Beatles

It seems like we have been working eight days a week lately. 
Picture is the balcony view from a Windward East unit that my wife is closing today.

We have reached the point in the market that we are now back to multiple offers on nice well priced units that are located on the beach.

In our 4 complexes there are only 6 active condos.  One in 2100 Towers, two in Windward East and three in Windrush.  There are now 4 under contract in the complexes, 3 in Windrush and 1 in The Diplomat.  The Windward East unit closes today for $175,000, this was a good price for buyer and seller for a top floor unit with 1 bedroom and 1 bath.

Walker Bagwell Properties have done their part.  Sales meeting this week showed 7 contracts on the board.  I do love weeks like that.

Enjoy the day!

Jim Bagwell
  

Bye Bye Birdie!

I must admit it was a sad day to see the last shuttle heading to the Smithsonian.  I can vividly remember watching the Challenger going to pieces outside my office with people crying and wondering how this could happen.  This program has a lot of brave men & women doing what most wouldn't even consider.  Speaking of brave I wonder what that 747 pilot thought the 1st time they said they going to bolt a shuttle on top and he was going to take off.

Nothing new to report in our complexes.

Right now our company has 6 buyers looking for end units above the 2nd floor with none to be had.

Enjoy the day
Jim Bagwell

"All the vampires walkin' through the valley"

"move west down, Ventura Blvd" Tom Petty, a Florida boy

Picture is of Kelly Slater, I don't think he will ever retire and why should he.

Cocoa Beach is having a board meeting this week to vote on whether or not to place a lien on the glass bank building. The owner now has $32,000 in fines for bulding issues, seems like a no-brainer. It would certainly be nice for something to be done with this building.

Still not much new in our complexes. Windrush has a side unit on the 5th floor that was listed for $200,000. This unit is now under contract.

Interesting to note that in the Emerald Seas complex which is located on the ocean on Ocean Beach Blvd has a new listing that was listed on 4/10 with a price of $349,900. This unit has 1602 square feet with 2 bedrooms 2 baths and direct ocean on the 4th floor. 3 days later another unit was listed in the same complex for $275,000. This unit has 2027 square feet with 3 bedrooms 2 baths, also direct ocean but on the 2nd floor. This is quite a price difference for 6 floors.

Enjoy this windy Sunday.

Jim Bagwell

"A nickel ain't worth a dime anymore"

Yogi Berra Yogi also said that "baseball is 90% mental and the other half physical" Hmmm!

Picture is of the view from balcony of unit 313 in the Windrush. It is a north view that just closed for $190,000, it was listed at $199,900. It seems that Windrush is one of the most proactive complexes around the beach.

Villa Verde is the complex on south Cocoa Beach that was distressed and they have sold many at distressed prices. They have now lowered the price of a 3rd floor unit from $425,000 to $399,000. This is a 3 bedroom 3 1/2 bath with 2453 square feet. This unit is equipped with all the bells and whistles including one touch lighting, home audio and air conditioning.

Have a good one and hope everyone had a nice Easter.

Jim Bagwell

"In the middle of difficulty lies opportunity"

Albert Einstein The difficulty is the Real Estate market, the opportunity is The Diplomat.

As you are looking at this picture the 330 bldg is on your left 2nd building in from A1A. A new foreclosure is listed at $85,500. The unit has been upgraded and we could probably get it for a little less than list price. Cash offers only!

Thank you
Jim Bagwell

"I said, Do you speak-a my language"

"He just smiled and gave me a vegamite sandwich" Men Downunder If you want a different view then listen to Colin Hay, he was the lead singer of Men Downunder and does his own thing. He is actually an accomplished guitarist and vocalist.

Still not much new in our complexes except for Windrush.

It seems they are having a price war. They have a new listing on the 6th floor direct ocean with 2 bedrooms 2 baths 1444 square feet and priced at $299,900. The side unit on the 6th floor has been reduced from $230,000 to $200,000. This unit is a 2/2 with 1271 square feet. The 1st floor end unit with 3 bedrooms 2 baths 1623 square feet has been reduced to $234,000. The NE corner with 3 bedrooms 2 baths 1852 square feet has been reduced to $230,000. The unit is on the 2nd floor. NOW IF WE COULD ONLY HAVE A GAS WAR!

The Mystic Vistas complex we have talked about in Cape Canaveral which is a new construction condo complex and found itself in very bad trouble. The last foreclosure is under contract and the prices have stabilized. There are now 5 on the market priced from $279,900 to $350,000.

Enjoy the spring

Jim Bagwell