Our barrier Island

Cocoa Beach, the best little beach town in Florida in our opinion.

Still not much going on in our complexes, the Windrush NE corner 1st floor that we talked about last blog has been reduced again to $234,000.

We are now back to 9 active listings since the Windward East 604 is back on the market. The unit is still priced at $272,000 with 2/2, 1240 sq ft. One thing that could be holding it back is the agent comment, "Foreign seller can't be sold to an investor", this is really not correct but FIRPTA is rather confusing.

Trulia, which is becoming on of the most popular search engines for Real Estate, came out with their search statistics for Feb. They are terrible at property values but should be accurate on their search statistics. Trulia has said that Brevard county was the most searched area for Feb in the nation. That may reflect to our lack of inventory.

We do have a very serious buyer looking for a SE corner above the 4th floor if you know of any potential sellers.

Thank you

Jim Bagwell

"Just take in some clean fresh air, boy!"

"Ain't no sense in stayin' inside" "The Rascals"

Just another March day at Coconuts for our friends in Quebec!

In our complexes we now have 8 active listings. The 6th floor unit in Windward East has expired. This was on the market for over a year and showing may have been difficult with a tenant but was priced at $272,000 which is a reasonable price.

The oceanfront Diplomat closed for $200,000 which is pretty good for the sq. footage of 900.

The 2 units in Windrush with 3 bedrooms 2 baths are still active which is suprising since they are corner units with over 1800 sq ft and priced at $244,000 & $244,900. Ist floor is $244,900 and 2nd floor is $244,000. There is still value in units like this.

I generally don't like to discuss things that I don't fully understand but a friend and neighbor told me about a solar company he had found that offers a unique situation for condo associations. The company has investors that pay for the solar equipment and installation on a complex. The investors take their dividends out of the savings on the monthly electrical cost. After 10 years the association owns the solar equipment free and clear. This may be something that an association might want to look into as it would be savings down the road with no upfront money out of pocket and good for generations to come. I hope I explained the process correctly.

Go Gators!

Jim Bagwell

" War, it ain't nothing but a heartbreaker"

"War, it's got one friend, That's the undertaker" Edwin Star & War

Picture is one my son sent me from Afghanistan. The land looks beautiful through the artilary hole.

There is still nothing new in our complexes, we are rather stagnant or owners have decided to stand pat.

Believe it or not flipping property is now back. The banks however have added a new wrinkle to the process. Some lenders who make loans on properties are requiring that regardless of the appraisal the seller can't receive over 20% profit unless they produce receipts of added value work being completed to the property. The other option is to have a 2nd appraisal done that is comparable to the 1st. We just closed one with the appraisal option. Wow

There is a new listing on the Banana River that is a single family with a pool that sits on .59 acre. These types homes have been selling quickly due to the lack of inventory. Home was built in 1954 so I am sure it will require updates.

Jim Bagwell

"Lie to me"

"I promise to believe" Strong enough by Cheryl Crow she does appear to be a strong woman.

Some beautification at the end of Minuteman Cswy, beware of the rangers.


Still only 9 active listings in our 4 complexes. 3 in Windward East, 5 in Windrush and 1 in 2100 Tower. The average days on the market for these is 297 days. This is really due to price or ease of showing.

In 2012 there have been 29 condos in oceanfront complexes sold with a average sq. ft. price of $166.65. Price is still the most important aspect if you really want to sell a condo.

Good day to fly a kite.

Jim Bagwell