"I've got a feeling"

"Everybody had a good year"  The Beatles

This year's air show is moving south down the beach to Indialantic.

Well this is exciting news!  After 1032 days on the market Windward East unit 406 is under contract.  This is the 2 bedroom 2 bath unit 4th floor direct ocean, needs updating but features great views.

Since the last post on 6/25 there have been 11 waterfront condos sold in Cocoa Beach/Cape Canaveral, during the same period there has only been one new listing.

In the news

The month of May had the most pending sales since 2006.  The percentage in May was 112.3 and in May of 2006 it was 112.6.  Look for mortgage rates to rise slightly.

If you are thinking of buying a property you really need to go ahead and get a pre-approval from a reputable lender and be ready for your offer.  Good listings are going under contract very quickly and you will be ahead of the game with a pre-approval.  It always works better if you use a local lender.

A new bill is in front of the senate from a bipartisan group that would do away with Fannie Mae and Freddie Mac and replace with a new guarantor called the Federal Mortgage Insurance Corp.  This would require investors to absorb 10% of the mortgages that fail.  At the present time when mortgages default, investors who bought these mortgages are free of loss.

Enjoy the weekend!

Jim Bagwell

Cocoa Beach

A new listing came on the market in the Colonial House Condos.
I have always liked this complex.  It is located on the river behind the old Publix.  The unit comes with a deeded boat slip and features 2 bedrooms 2 baths with 1526 square feet.  The only downfall is it is priced a little high at $299,900.

Ada and I tried the new Florida's Fresh Grill this past weekend.  It was very good and reasonably priced.  They have also renovated the bar area allowing more seating around the horseshoe bar.  The service was very good and the owners came around to check on everyone.  Ada and I had the calamari appetizer, then Ada had the swordfish with mango salsa and I had the filet mignon.  All the fish is fresh except for the Chilean sea bass and the steaks are hand cut.  See pictures below;

 

 

Give it a try and support your local business's.

Jim Bagwell

"Riders on the storm"

"Riders on the storm Into this house we're born Into this world we're thrown" The Doors featuring Jim Morrison who spent some early years in Melbourne

Cocoa Beach storm rolling in over the ocean 06/20/13

Windrush unit 313 has closed for $207,500.  This is a side unit with 2 bedrooms 2 baths and 1271 square feet.

As of this writing there are now 117 oceanfront condos listed in Cocoa Beach and Cape Canaveral and 2 of these are time shares.

So far in June there have been 11 oceanfront condos listed and 11 that have closed.

Strange but true.

Jim Bagwell

"Tell me baby, what's my name"

"Tell me honey, can ya guess my name"  Sympathy for the devil from the Rolling Stones

Cocoa Beach sunrise

Well Windward East 208 & 408 have closed.  Pickings are getting scarce.

A couple of new listings that have showed up this month that should draw some interest.

A NE corner unit in Stonewood came on the market.  This floor plan shows like a house with 2140 square feet, 3 bedrooms 2 baths and has balconies on the ocean and on the north side with side views of the ocean.  The unit has been upgraded and is listed at $499,000.

A 1st floor unit in Sun Club has also came on the market.  This is a 3 bedrooms 2 bath unit on the 1st floor with 1344 square feet.  The unit has good views for a 1st floor unit.  This one is a short sale at $225,000 and is owned by the condo association.  Should prove interesting.

Stay cool!

Jim Bagwell

"Bad man walking, bad man"

"Bad tongue talking" Gov't Mule, these guys would come together on breaks from the Allman Brothers.  amazing you can still catch Greg Allman around Brevard County.

What ever happened to suicide doors?

Ada has been working on a short sale for what seems like forever.  Sometimes they go pretty quickly and other times it is a test.  The buyer is a very nice lady who has been extremely patient.  Both agents have been giving up commission all along.

The latest thing that has come up is that Fannie Mae has added another restriction.  Most wind insurance is held by Citizens Insurance, Fannie Mae now requires Ordinance or law on the wind/hurricane policy.  Citizens doesn't offer this type policy,  now if the association can afford the policy they should have it but most owners do not want to pay an assessment in order for a new buyer to purchase in the association.  95% of all residential loans are backed by either Fannie Mae or Freddie Mac, as of this writing Freddie Mac doesn't make it necessary for this clause.

A side unit in Windrush is under contract.  This unit features 2 bedrooms 2 baths and has been upgraded.  It has a northern view and was listed at $217,000.

On a side note The Mango Tree has added new entertainment on Wednesday nights from 6pm to 8pm.  This singer is also a roofer and sings all the old standards so if you like Frank Sinatra, check it out.

Jim Bagwell