"Buy land, they're not making anymore"

Mark Twain Never more true than on the beachside.

Our partner has listed a house on the Banana River in south Cocoa Beach.  The property does have a house on the property with a detached garage.  We are marketing the property as land value only.  The property is .39 acre on the river and could be the site for a wonderful Key West style home with a detached garage.  Priced at $279,000.

In 2013 there have been only 5 vacant land sales on the beachside.  Walker Bagwell Properties have closed 3 of these.

As of this writing there are now only 8 active listings in our 4 complexes.  In 2013 there have been 5 units closed with 1 in Windrush, 1 in 2100 Towers and 3 in The Diplomat.  We hope to close unit 208 in Windward East very shortly as it is under contract.

Looks like more rain today, it is hurting my golf game.

Jim Bagwell 

"Ethics is knowing the difference"

"between what you have a right to do and what is right to do" Potter Stewart

I know that it is hard for some people to believe but most Realtors take our code of ethics very seriously.  We have been in business as Walker Bagwell Properties for 8 years during this time we have only had 2 arbitration cases and both were resolved in our favor.  We have specific rules to follow as a Realtor and most follow the rules.

We recently had an agent from another company who has been in the business for a very long time make a offer on one of our listings.  For some reason he decided that he could negotiate directly with our seller.  This is a total unauthorized action to take as a Realtor.  The only negotiation has to be done between the agents.  He also did other strange things but I believe this will be our 1st ethics complaint.

The listing agent doesn't set the price on listings, they simply offer advice on the market and allow the seller to decide on list price.  The agent will inform the seller if they believe the price is too high or low.  Yes we do have sellers who think they should list lower than market value.

The same goes for buyers, your agent doesn't decide on what you should offer on a property.  The buyer has to make that decision based on comps that the buyer's agent provides them.  As a buyer don't ever make a uninformed offer.  The objective is that the property will sell at market value or as a buyer's agent if you can get it for less then all the better for the buyer.  A win win situation is the best result.

Find a agent that you trust and always ask questions.

Jim Bagwell  

"A time for love, a time for hate"

"A time for peace, I swear its not too late"  The Byrds. Words adapted from the Bible, book of Ecclesiastes music by Pete Seeger

Different views of condo dwellers;  With the 45' height restriction in Cocoa Beach most new developments are smaller making for a more intimate setting with fewer units.  The drawback is higher monthly fees because of the small amount of owners.  The older units were built before the new height restriction allowing for more density in condo developments which in most cases allow for lower monthly fees.  In Windward East we have 100 units and the monthly fees are $335 which is very reasonable.

A unit in The Champenae  is listed as a short sale $375,000.  This unit in on the 2nd floor with 3 bedrooms 3 baths and 2256 square feet.  The association has an active lawsuit in progress against the builder and consequently the monthly fees are $975, normally $799.  There are 6 units in the complex.

A unit in Almar listed at $500,000. This unit is also 2nd floor with 4 bedrooms 3 1/2 baths and 2713 square feet.  The association has already closed their lawsuit and the monthly fees are $725.  There are 8 units in the complex.

A unit in Ocean Terraces listed at $374,900.  This unit has 3 bedrooms 2 1/2 baths with 1668 square feet.  The unit is also on the 2nd floor.  The monthly fees are $850.

These 3 complexes were completed between 2002 and 2006.

A unit in The Wavecrest listed at $310,000.  This is a 3rd floor unit with 2 bedrooms 2 baths and 1568 square feet.  Great complex with great views and built in 1985.  The monthly fees are $375 since there are 28 units in complex.

And now you know the rest of the story Paul Harvey

Thanks
Jim Bagwell

"I did a two step, quick step"

"and a bosanova"  I can dance by Leo Sayer,  Did you know before leo became the lead singer, he would jump on stage and grab the mic from the singer and finish the song.  After the show the band would beat the hell out of him until he won them over.



So far in April there have been 32 new condo listings and in the same time period there have been 35 condo closed, the trend stays the same.

The 1st floor in Windrush that I tried my best to find a buyer has closed for $193,000.  This unit is a NE corner with 3 bedrooms 2 baths and 1623 square feet, now that is a stinger.

The front unit in The Diplomat that was under contract has closed for $95,000, it seems right around $100,000 is the price of choice for the front buildings.

On a side note the Sylvestro's in Cocoa Beach has closed but renovation is under way and it will open as Florida's Fresh Grill in June.  The owners have a background with Outback and Bonefish Grill.  I spoke with one of the owners and he promises nothing but fresh seafood and steaks.  I hope everyone will give it a shot when it opens.

With working all the time Ada and I decided we were in a rut and would try a new place each week for lunch.  Last week we visited The Sandbar for the first time in 15 years and tried their fish tacos, they are not bad at all and sitting outside is a nice lunch place during the week.

Thanks

Jim Bagwell

Unusual

Sometimes we get so involved with out little beach town that we forget all the other unique areas in our great county.

The picture is of the backyard of a home in Melbourne Beach which is a great place for dining, shopping and a short drive to downtown Melbourne.  This home is a 4 bedroom 3 bath home with 1880 square feet, sun room and as you can see a great pool with pergola.  This home is priced at $305,000.

In the same area on the ocean is a townhome with great ocean views and a balcony off the master bedroom.  This home is direct ocean with 2 bedrooms 2 1/2 baths and 1261 square feet.  The HOA fees are only $50 monthly and this is a end unit.  This is truly unique.  Priced at $349,900 act today.

Now if you are stubborn as I can be and want to stay in Cocoa Beach, there is a unique townhome in a condo complex known as Xanadu.  This home has 2 bedrooms 2 1/2 baths and 1982 square feet which consists of 2 floors.  This home is a foreclosure and priced at $246,510.  The monthly fees are $525 but it won't last long and Xanadu has all the amenities.

Thanks
Jim Bagwell

"Levon, Levon likes his money"

"He makes a lot they say"  Sir Elton John

This crane can be a pain going back door to back door begging for food but I have seen him get 2 snakes so far so I will put up with him.

I am convinced now that the major thing holding back a full recovery in the housing market is the lack of inventory.  Most of the times there are numerous units in 2100 towers but now I have a buyer who is looking for a unit with a south view and now there are none.  If you have been thinking about selling your 2100 Towers unit, I can bring you a buyer.

Windward East unit 208 is now under contract but 408 is still available.  408 is now unfurnished and is being painted, could be a buy listed at $235,000.

The Windrush unit 107 has closed for $193,000.  This is a 3 bedroom 2 bath in good shape.  That price is a stinger.

There is a new development being built adjacent to the Merrit Island airport that will be upscale condos for all you pilots.  Call me for details.

Jim Bagwell 

"Hey I'am going to get you too"

"Another one bites the dust"  Queen

NRT LLC, which is the largest parent company of real estate companies in the nation,  they own such companies as ERA & Coldwell Banker, just purchased ERA Showcase of Brevard and Pruitt Real Estate of Brevard.  This really doesn't affect us in anyway just a trend.  ERA Showcase and Pruitt will now become Coldwell Banker Residential.

My partners and I have worked at Coldwell Banker and ERA before starting this company and have found the flexibility of helping our clients with their own particular needs with our special company has been heads above without reporting to a mother ship.

Interestingly enough in the 1st quarter of sales in out area, out of the top 25 companies in sales 11 are independent companies.  Thanks to all of you, Walker Bagwell Properties remains near the top.

Ada and I were having lunch at Coconuts the other day and met a very nice lady who owns a beach house with friends.  We introduced her to the manager and she told the manager that they had good food even when they didn't have to since location was enough.  Now at Walker Bagwell Properties we treat all clients the same whether they are buying a $40,000 condo or a $1,000,000 oceanfront lot.  With Coldwell Banker now having 170 agents and we have 13 our service will still remain the same as always with every client getting the personal attention they deserve.  In one way or the other when buying or selling real estate it changes your life.

Thanks
Jim Bagwell



 

"Then you better start swimmin' "

"Or you'll sink like a stone."  The times they are a-changin' Bob Dylan

For those of you who read the blog you will remember we had one of these condos listed for sale.  A tragedy was avoided when the 3rd floor balcony in Villa Verde collapsed onto the 2nd floor balcony.  No injuries were reported since nobody was on either balcony at the time of collapse.  The investigation has just started to find out what caused the collapse and to see if the building is safe for occupancy.

This building is a very high tech building and seems to be well built,  I will be very interested in the findings of the investigation.  I feel very bad for the owners as I am not sure what this will cost if it goes the way of assessment.

Jim Bagwell