"I don't have any reasons"

"I've left them all behind"
"I'm in a New York state of mind"  Billy Joel

I'll still take Cocoa Beach!

Well so far in July there have been 10 new oceanfront listings in Cocoa Beach/Cape Canaveral.  The most interesting is a SE corner on the 2nd floor in the Xanadu.  This unit has 3334 square feet with 4 bedrooms 3 baths and 2 1/2 baths, priced at $700,000 which is still not too high for the square footage.

In this same period there have been 12 oceanfront listings sold.  The highest are still in The Meridian which is a very nice complex with the best pool and gym on the beach.  The 2 units sold for $575,000 & $650,000.

At the present time there are 46 oceanfront listings that are under contract with a few new construction units that won't complete until 2014.

With the interest rates rising to over 4%, which is still a very low rate, some buyers think the rates will again lower.  I don't believe the rates will come down for quite some time if ever.

Jim Bagwell