"I said, Do you speak-a my language"

"He just smiled and gave me a vegamite sandwich" Men Downunder If you want a different view then listen to Colin Hay, he was the lead singer of Men Downunder and does his own thing. He is actually an accomplished guitarist and vocalist.

Still not much new in our complexes except for Windrush.

It seems they are having a price war. They have a new listing on the 6th floor direct ocean with 2 bedrooms 2 baths 1444 square feet and priced at $299,900. The side unit on the 6th floor has been reduced from $230,000 to $200,000. This unit is a 2/2 with 1271 square feet. The 1st floor end unit with 3 bedrooms 2 baths 1623 square feet has been reduced to $234,000. The NE corner with 3 bedrooms 2 baths 1852 square feet has been reduced to $230,000. The unit is on the 2nd floor. NOW IF WE COULD ONLY HAVE A GAS WAR!

The Mystic Vistas complex we have talked about in Cape Canaveral which is a new construction condo complex and found itself in very bad trouble. The last foreclosure is under contract and the prices have stabilized. There are now 5 on the market priced from $279,900 to $350,000.

Enjoy the spring

Jim Bagwell

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

"In my many years I have come to a conclusion"

"that one useless man is a shame, two is a law firm and three or more is a congress" John Adams via Steve Donnelly It is hard to argue with John Adams

Cocoa Beach from the air, what a great winter.

Still not much movement in our complexes. There is a new listing in The Diplomat that is following the trend with a list price of $99,900 and recently renovated.

There is a good buy at The Constellation with 3 bedrooms 2 baths and 2126 sq.ft. priced at $375,000. I personally like this complex, you have great ocean views and from the back bedrooms you have river views. The association allows one pet with no size limitation so great if you have a bigger dog.

January numbers from our MLS shows there have been 78 sales for condos down from January 2011 by 16.7%. Listings were up by 7.1%. The number of desirable listings are the reason that sales are down. The number of condos listed in our area is down by 44.7%.

Enjoy the winter afternoon!

Jim Bagwell

"A man is successful if he gets up in the morning"

"and gets to bed at night, and in between he does what he wants to do" Bob Dylan

Osprey overlooking the 9th hole on the Lakes course

We have 2 new listings in our complexes. The 1st is a 2100 unit that is a 2/2 1600 sq. ft. and priced at $189,500. The 2nd is a NE corner unit in Windrush on the 2nd floor. This unit has been updated and shows well. 3 bedrooms 2 baths and priced at $249,000. We hope to get a buyer quickly.

We have had 4 units sold this year with 3 in The Diplomat and 1 in Windrush. That means there are no units on the market in The Diplomat. In the same time period last year there was 1 unit sold and that was in Windrush. The difference is the inventory, there was so much more to choose from last year.

At the present time there are 11 units on the market in our 4 complexes with 1 pending and 3 contingent. Last year there were 27 available units in our 4 complexes.

2012 will be the opportunity for the seller as far as oceanfront complexes go.

Jim Bagwell