"I was seldom able to see an opportunity"

"until it had ceased to be one"  Mark Twain

We have a well qualified buyer who is ready to move up in Windward East.  If you own a unit in the 101, 105.106 or 107 stack on the 3rd floor or higher then we would be able to save you some money on the sale of your unit.

If you lhave any interest at all please give me a call!

Jim Bagwell

"May the bird of paradise fly up your nose"

"May a elephant caress you with his toes"  Little Jimmy Dickens

Only in Cape Canaveral do you find a peacock at the circle K dumpster.

Safety in the market

To show you how you can feel more safe in today's market, we have a friend and client who was able to buy a 3/2 condo on the ocean in January 2011 for $249,000.  This unit has 1804 square feet on the 4th floor with great ocean to river views.  Granted they have done a lot of upgrades on the unit and now it shows great.  When I do a CMA on just the 2 adjacent buildings I come up with a market value of between $310,000 and $345,000.  This was achieved by knowing the market value and some intense negotiations.

Always have your agent perform a CMA before starting negotiations and you will know what you should pay as top end price and try to get it lower.  I know the market is coming back but we are still in a down market.  

Make wise choices

Jim Bagwell

"Money don't get everything it's true"

"What it don't get, I can't use"  The Beatles before their spirtual journey

Some lenders are now requiring associations to certify that they are not renting out units for less time than docs specify.  This came about with the new law that allows condo associations to file leins, foreclose and collect rent on the units that are not being paid for by the owners.  Some associations have taken this to mean they can rent for any time period.   Not True!

So far in 2013 there have been 33 oceanfront condos sold that feature at least 3 bedrooms and 2 baths.  Interestly enough none of these have been new construction, I expect to see new buildings soon although the 45' height restriction in Cocoa Beach makes it more difficult.  I would like to see this restriction relaxed a bit.

The sold units have included several newer constructed buildings like Solona Shores and The Meridian but most were built in the late 70's and early 80's.  The 33 units sold closed for an average square foot cost of $211.68.

Our listing in Windrush is a 3/2 SE corner with good views, going by the square foot cost, it would put this unit at $343,550.  It is listed at $342,500.  The only negative feedback I have received is the tile in the unit.  It would be wise to make an offer allowing for tile replacement.

View from Windrush 201, call to see this unit.

Jim Bagwell
   

"Now the race is on and here comes pride up the backstretch"

"Heartaches are going to the inside"  George Jones; the man, the legend, the possum!  I still love you Tammy

I hope everyone enjoyed the boat races over the weekend.  I know this brings in a lot of revenue to the city but I find it boring to watch.  Miss Geico is so much better than all the other boats that it broke down but was so far ahead it got one of the engines started and still won the race.

Ada and I walked down and saw the classic car show and I found that to be very cool.  They do a very good job with a lot of cars and it has to be a windfall for the resort and Mamba's was packed.

There is now a new listing in The Diplomat.  It is in the front buildings and shows very well, they used the kitchen bar for dining so it shows bigger than 750 square feet.  Listed at $125,000 so the price is priced well.

Jim Bagwell

"See Jamaica, the moon above"

"It won't be long, me see me love"  The Kingsmen
I am sure we all made up our lyrics for this song.

Not much new in our complexes; The 2100 unit on the 12th floor, NW corner has been reduced to $475,000.  Now I know for $475,000 with 2/2 and 1600 square feet this unit is still overpriced but it is a very nice unit with incredible views of city, river and ocean.

Windward East is now an officially approved complex with Wells Fargo.

There is a new listing in south Cocoa Beach that is a townhome on the river side.  This unit was built in 1985 and is a walk across A1A to the beach with river access at the west end of the street.  Priced at $199,900 with 2 bedrooms 2 1/2 baths and 1284 square feet and no HOA fees.  Tell someone you know, close to great surf and fishing.

Jim Bagwell

"Tin soldiers and Nixon coming"

"We're finally on our own"  Neil Young  Neil wrote this song Ohio in one hour after the Kent State fiasco.

The market is getting better!  Buyers could be missing out.

As of this writing there are presently 18 foreclosures on the market in Cocoa Beach & Cape Canaveral.  These units are priced from $34,900 to $309,900.  The highest priced unit is in Sandcastles which is a weekly rental complex but this unit is probably a bit overpriced for a foreclosure.

In addition there are 4 short sales on the market.  These units are priced from $155,000 to $400,000.  When listing a short sale you should price the property at market value since until you get an offer you really can't negotiate with the bank.

So far this year there have been 44 foreclosures sold and these units range in price from $20,000 all the way to $236,555.  In addition there have been 18 short sales that have closed, priced from $22,000 to $515,000.  The highest priced unit was in the Meridian which is a great complex with the best pool on the beach.

It is getting better after all!

Jim Bagwell

Bye Bye Birdie

This crane flew in for some fajitas on Cinco de Mayo but couldn't open the grill.  I wanted to give him a jalapeno but Ada said no.

It has been a rather busy May with 23 new condo listings and 14 sold condos.  There are now 7 active listings in our 4 complexes with 3 in Windward East, 2 in Windrush, 1 in 2100 and 1 in The Diplomat.   The foreclosure in the front building at Windrush is under contraact with a list price of $125,000.  Unit 408 in Windward East is still available and now the furniture has been removed with fresh paint, shows much better with a list price of $235,000.

There is a new foreclosure listed in Coral Sands in south Cocoa Beach that is a direct ocean unit with 3 bedrooms 2 baths and 2104 square feet.  This is a corner unit on the 2nd floor and listed at $249,900.  This won't last long.

Enjoy your Sunday and check in with your Mom.

Jim Bagwell

Office in the islands

I always wanted a office in the islands just not this way.  That was some kind of rain.

Nothing new in our complexes.  The lack of inventory has affected the rental market as well as sales.  There are very few rental properties to choose from on the beach.  There are becoming an increasing number of fannie mae properties on the market with homepath financing available with as little as 3% down.  A great idea for the single person or couple.

We don't see much new construction as far as single family home on the beachside since there is not much land left to build.
There is a new home just finished on Bali rd in Cocoa Beach that is now available for $539,000.  This home has all the upgrades with 3 bedrooms 3 baths and 2397 square feet.  Home also features a 3 car garage and a natural coquina seawall on the canal.  It is worth a look.

Jim Bagwell