Bye Bye Birdie

This crane flew in for some fajitas on Cinco de Mayo but couldn't open the grill.  I wanted to give him a jalapeno but Ada said no.

It has been a rather busy May with 23 new condo listings and 14 sold condos.  There are now 7 active listings in our 4 complexes with 3 in Windward East, 2 in Windrush, 1 in 2100 and 1 in The Diplomat.   The foreclosure in the front building at Windrush is under contraact with a list price of $125,000.  Unit 408 in Windward East is still available and now the furniture has been removed with fresh paint, shows much better with a list price of $235,000.

There is a new foreclosure listed in Coral Sands in south Cocoa Beach that is a direct ocean unit with 3 bedrooms 2 baths and 2104 square feet.  This is a corner unit on the 2nd floor and listed at $249,900.  This won't last long.

Enjoy your Sunday and check in with your Mom.

Jim Bagwell

Office in the islands

I always wanted a office in the islands just not this way.  That was some kind of rain.

Nothing new in our complexes.  The lack of inventory has affected the rental market as well as sales.  There are very few rental properties to choose from on the beach.  There are becoming an increasing number of fannie mae properties on the market with homepath financing available with as little as 3% down.  A great idea for the single person or couple.

We don't see much new construction as far as single family home on the beachside since there is not much land left to build.
There is a new home just finished on Bali rd in Cocoa Beach that is now available for $539,000.  This home has all the upgrades with 3 bedrooms 3 baths and 2397 square feet.  Home also features a 3 car garage and a natural coquina seawall on the canal.  It is worth a look.

Jim Bagwell 

"Buy land, they're not making anymore"

Mark Twain Never more true than on the beachside.

Our partner has listed a house on the Banana River in south Cocoa Beach.  The property does have a house on the property with a detached garage.  We are marketing the property as land value only.  The property is .39 acre on the river and could be the site for a wonderful Key West style home with a detached garage.  Priced at $279,000.

In 2013 there have been only 5 vacant land sales on the beachside.  Walker Bagwell Properties have closed 3 of these.

As of this writing there are now only 8 active listings in our 4 complexes.  In 2013 there have been 5 units closed with 1 in Windrush, 1 in 2100 Towers and 3 in The Diplomat.  We hope to close unit 208 in Windward East very shortly as it is under contract.

Looks like more rain today, it is hurting my golf game.

Jim Bagwell 

"Ethics is knowing the difference"

"between what you have a right to do and what is right to do" Potter Stewart

I know that it is hard for some people to believe but most Realtors take our code of ethics very seriously.  We have been in business as Walker Bagwell Properties for 8 years during this time we have only had 2 arbitration cases and both were resolved in our favor.  We have specific rules to follow as a Realtor and most follow the rules.

We recently had an agent from another company who has been in the business for a very long time make a offer on one of our listings.  For some reason he decided that he could negotiate directly with our seller.  This is a total unauthorized action to take as a Realtor.  The only negotiation has to be done between the agents.  He also did other strange things but I believe this will be our 1st ethics complaint.

The listing agent doesn't set the price on listings, they simply offer advice on the market and allow the seller to decide on list price.  The agent will inform the seller if they believe the price is too high or low.  Yes we do have sellers who think they should list lower than market value.

The same goes for buyers, your agent doesn't decide on what you should offer on a property.  The buyer has to make that decision based on comps that the buyer's agent provides them.  As a buyer don't ever make a uninformed offer.  The objective is that the property will sell at market value or as a buyer's agent if you can get it for less then all the better for the buyer.  A win win situation is the best result.

Find a agent that you trust and always ask questions.

Jim Bagwell  

"A time for love, a time for hate"

"A time for peace, I swear its not too late"  The Byrds. Words adapted from the Bible, book of Ecclesiastes music by Pete Seeger

Different views of condo dwellers;  With the 45' height restriction in Cocoa Beach most new developments are smaller making for a more intimate setting with fewer units.  The drawback is higher monthly fees because of the small amount of owners.  The older units were built before the new height restriction allowing for more density in condo developments which in most cases allow for lower monthly fees.  In Windward East we have 100 units and the monthly fees are $335 which is very reasonable.

A unit in The Champenae  is listed as a short sale $375,000.  This unit in on the 2nd floor with 3 bedrooms 3 baths and 2256 square feet.  The association has an active lawsuit in progress against the builder and consequently the monthly fees are $975, normally $799.  There are 6 units in the complex.

A unit in Almar listed at $500,000. This unit is also 2nd floor with 4 bedrooms 3 1/2 baths and 2713 square feet.  The association has already closed their lawsuit and the monthly fees are $725.  There are 8 units in the complex.

A unit in Ocean Terraces listed at $374,900.  This unit has 3 bedrooms 2 1/2 baths with 1668 square feet.  The unit is also on the 2nd floor.  The monthly fees are $850.

These 3 complexes were completed between 2002 and 2006.

A unit in The Wavecrest listed at $310,000.  This is a 3rd floor unit with 2 bedrooms 2 baths and 1568 square feet.  Great complex with great views and built in 1985.  The monthly fees are $375 since there are 28 units in complex.

And now you know the rest of the story Paul Harvey

Thanks
Jim Bagwell

"I did a two step, quick step"

"and a bosanova"  I can dance by Leo Sayer,  Did you know before leo became the lead singer, he would jump on stage and grab the mic from the singer and finish the song.  After the show the band would beat the hell out of him until he won them over.



So far in April there have been 32 new condo listings and in the same time period there have been 35 condo closed, the trend stays the same.

The 1st floor in Windrush that I tried my best to find a buyer has closed for $193,000.  This unit is a NE corner with 3 bedrooms 2 baths and 1623 square feet, now that is a stinger.

The front unit in The Diplomat that was under contract has closed for $95,000, it seems right around $100,000 is the price of choice for the front buildings.

On a side note the Sylvestro's in Cocoa Beach has closed but renovation is under way and it will open as Florida's Fresh Grill in June.  The owners have a background with Outback and Bonefish Grill.  I spoke with one of the owners and he promises nothing but fresh seafood and steaks.  I hope everyone will give it a shot when it opens.

With working all the time Ada and I decided we were in a rut and would try a new place each week for lunch.  Last week we visited The Sandbar for the first time in 15 years and tried their fish tacos, they are not bad at all and sitting outside is a nice lunch place during the week.

Thanks

Jim Bagwell

Unusual

Sometimes we get so involved with out little beach town that we forget all the other unique areas in our great county.

The picture is of the backyard of a home in Melbourne Beach which is a great place for dining, shopping and a short drive to downtown Melbourne.  This home is a 4 bedroom 3 bath home with 1880 square feet, sun room and as you can see a great pool with pergola.  This home is priced at $305,000.

In the same area on the ocean is a townhome with great ocean views and a balcony off the master bedroom.  This home is direct ocean with 2 bedrooms 2 1/2 baths and 1261 square feet.  The HOA fees are only $50 monthly and this is a end unit.  This is truly unique.  Priced at $349,900 act today.

Now if you are stubborn as I can be and want to stay in Cocoa Beach, there is a unique townhome in a condo complex known as Xanadu.  This home has 2 bedrooms 2 1/2 baths and 1982 square feet which consists of 2 floors.  This home is a foreclosure and priced at $246,510.  The monthly fees are $525 but it won't last long and Xanadu has all the amenities.

Thanks
Jim Bagwell