"Average U.S. rates on fixed mortgages have risen"

"for a fourth straight week,remaining slightly above record lows.  (3.66%) can you imagine rates have risen to 3.66% Wow

Picture is balcony view from our new listing in Windward East 208.

This unit is in great shape and shows very well.  AC new in 2009, new electric shutters and upgrades on the floor and bathrooms.  2 bedrooms 2 baths 1316 square feet, unit located one in from oceanfront building and priced at $249,000.

STATE OF THE MARKET

Almost every Real Estate site states that home sales remain steady and prices have risen slightly.  What is not taken into consideration is the fact that Real Estate is very location driven.  What is happening in Kentucky has very little to do with what is happening in Florida.  Believe it or not what is happening in Cocoa has nothing to do with what is happening in Cocoa Beach.

At the present time there are 93 active oceanfront listings in Cocoa Beach.  As of 08/27/12 there have been 105 oceanfront condo listings sold in Cocoa Beach.  If we had our usual supply of listings in Cocoa Beach, we could be in a full blown recovery.

Good day to stay home and sleep in Cocoa Beach.

Jim Bagwell  
  

"You say what's mine is mine"

"And what's yours is mine too"
"Now you've got more than you can spend"  Ben Harper if you like Jack Johnson then you would like Ben Harper

Summer is usually our slow season but lately things have been hopping in Cocoa Beach.

In addition to the Windward East unit 604 being under contract.

4 more condos have gone under contract in our 4 complexes in the month of Aug.
2 in Windrush with list prices of $299,000 and $345,000 and 2 in Windward with list prices of $209,000 and $345,000.

End units are still the most sought after properties since there are so few left on the market.

There are presently 2 active units in 2100 priced at $189,000 and $239,900.
One oceanfront Diplomat priced at $249,000.
One in Windrush priced at $169,000, fully furnished front villa.
One in Windward East priced at $325,000.

We will have another end unit on the market in the next couple of days.  This unit has newer AC, newer shutters, very well maintained with very good southern views of the ocean.   Act quickly!

Jim Bagwell

"Come out Virginia, don't let me wait"

"You Catholic girls start much too late"  Billy Joel

Picture is from the balcony of Windward East 207.  This was a new listing, the unit is a SE corner unit with 3 bedrooms 2 baths and over 1700 sq ft.  This unit was listed at $349,000 and is now under contract.

2100 Towers, a listing that is back on the market.  A corner unit with 1600 sq ft.  This unit has a wrap around balcony and is listed at $189,500.

New Scam

With all the public information available it is hard to keep up with the scams.  I know you all have discovered you are a prince or princess from Nigeria and claim millions  A new one that is well thought out is one in which someone closes on a property and has to wait on their warranty deed.  Your deed will be mailed to you but could take 30 days to receive.  Some misguided individual is sending letters to the new owners from Tallahassee or D.C. of course and states that you need to send them around $80 and they will send you the deed.  Please don't pay any money to these people, the title company requests your deed but it will take some time for you to receive it.

Have a good one!

Jim Bagwell
 

"Its a beautiful morning"

"Think I'll go outside for awhile and smile"  The Rascals

Just another day in Cocoa Beach!

We finally saw some activity in our complexes.  A new listing in 2100 Towers, 5th floor direct ocean with 2 bedrooms 2 baths and 1400 square feet.  List price of $239,900.

Windrush, the listing on the 2nd floor direct ocean with 2 bedrooms 2 baths and 1444 square feet has gone under contract.  This unit was a sand dollar floor plan, completely renovated with a list price of $299,000.

Windward East, unit 604 finally went under contract after 707 days on the market.  The list price was $272,000 when the contract was received.  This unit is a 2 bedroom 2 bath with 1240 square feet and direct ocean.  This is the unit that under agent remarks said "Foreign seller cannot sell to investor".  You can sell to an investor if you follow the rules of FIRPTA.

To understand our inventory decline

There are 92 oceanfront condos on the market in Cocoa Beach.  So far this year there have been 93 oceanfront condos sold.

Single family homes are even worse as there are 36 homes on the market in Cocoa Beach.  So far this year there have been 68 homes sold in Cocoa Beach.

Enjoy the weekend!

Jim Bagwell


 

Thousand Islands

This picture will help to understand why the refuge is called Thousand Islands.

Still only 7 units active in our 4 complexes and none in 2100 Towers.

Interesting enough, there have been 14 units closed this year with none in 2100 Towers that were listed on MLS.

Windward East, Ada has closed the only one this year and that was the 1 bedroom 1 bath unit on the top floor.  This unit sold for $175,000 or $194 per square foot.

Windrush, 7 units have sold with one of these being in the front buildings.   If I throw out that unit, the average sold price would be $146.15 per square foot.

The Diplomat, 6 units havc sold with one of these being oceanfront.  This unit sold for $200,000.  If I throw this unit out the average price per square foot would be $121.93.

This is surprisingly accurate so you can do your own CMA.

Inventory is still jumping off the market.  I only hope the next wave of foreclosures won't be as severe as some are predicting.

Enjoy the weekend!

Jim Bagwell

"You know it balances on your head"

"Just like a mattress balances"
"On a bottle of wine"
"Your brand new leopard-skin pill-box hat"
Bob Dylan 

Still not much going on in our complexes.
There is a new oceanfront listing in The Diplomat.  This is a top floor which is 3rd floor in The Diplomat.  The unit is a 2/2 with 900 square feet, priced at $249,000.  Great views!

The investors are certainly back and not much to buy on the beach side.  Ada has sold 4 income properties in the last month.  These properties include 2 condos, 1 6-plex and 1 8-plex.

Jim Bagwell

"In the middle of difficulty lies opportunity."

Albert Einstein

Ada and I clebrated our 28th anniversary with a biplane ride with a loop and roll.  It was a blast but with the loop and roll we had to wear a parachute, hmmm.  We did get a 2 minute class on how to deplane.

We now have 6 active listings in our complexes.  All are in Windward East & Windrush.  No listings in The Diplomat or 2100 Towers.

New listings include Windward East 1st floor side unit that is listed at $209,000 and a Windrush in the front building that is a 1st floor unit with a price of $169,000.

In the four complexes in 2012 there have been 14 sales.  The latest 2 were both in Windrush.  One is a 1st floor SE corner, direct ocean and closed for $206,000.  The other is a 2nd floor with 1852 sq ft, 3 bedrooms 2 baths and wrap around balcony.  This one closed for $200,000.

Enjoy the day.  I spoke with a client in Chicago last week and he was traveling to Florida to escape the heat.

Jim Bagwell