"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