"I need this here old train to breakdown"

"oh please just let me breakdown" Jack Johnson You could take this song a couple of ways.

Ada and I had a short get away to Vegas this weekend. The pic is the ceiling of the Le Paris casino. For some reason it amazes me.

There is one new listing in Windrush and it is priced at $230,000. Side view with 2 bedrooms 2 baths, updated with granite, stainless and all that. 3 pictures in the listing and no pictures of the interior or upgrades. Hmmmm!

The Diplomat front unit that was under contract and listed at $119,900 closed for $110,000. This was a good deal for the seller. It was a cash deal so it didn't have to appraise which was a good thing.

Our listing in Windward East listed at $225,000 and closed for $210,000. This was a win win transaction. Listed and closed in 90 days so it can be done.

A unit in the Sun Club condo in south Cocoa Beach was originally listed at $349,000. The unit was reduced to $289,900 and closed for $255,000. This unit was on the market for 4 years before being reduced. I especially liked this sale since Walker Bagwell agents' had the buyers and sellers.

Enjoy your Sunday.

Jim Bagwell

"Long ago, when men cursed and beat the ground with sticks"

"it was called witchcraft. Today it's called golf." Will Rogers

No 4 tee box on CB river course.

The condo inventory is down all over the beach and the same for our complexes. In Windward,Windrush,2100 and The Diplomat are 12 active listings. 4 in Windward, 3 in Windrush, 4 in 2100 and 1 in The Diplomat. There are also 3 under contract with 1 in Windward,1 in 2100 Towers and 1 in The Diplomat.

One good reason to investigate the location of a condo is what happended to the Shorewood in Cape Canaveral. Shorewood is a very nice complex with great amenities. When Mystic Vistas was built next door, the setback between the 2 complexes was very short. Several of the buildings in Shorewood ended up with a view of the ocean if you leaned over your balcony. 2 units closed recently and one in the G building closed for $240,000 with 2104 sq. ft. but blocked view from Mystic and another closed in the E building for $318,000 with 1663 sq. ft. but not blocked by Mystic. Something to keep in mind.

There is a 3/2 in Stonewood on the 1st floor that is under contract with a list price of $239,000. We 1st floor owners are taking a beating.

Happy Fathers day to all the Dads!

Jim Bagwell

"In every life we have some trouble"

"When we worry you make it double" Bob Marley
I love to listen to reggae in the office but it always makes me want to be in the islands.

Windward East
The side sand dollar unit was reduced to $225,000. There were multiple offers and is now under contract. Market price is still the key. The association is also very important to every buyer or should be. The monthly dues in Windward were just raised to $330 and that takes care of the balcony restoration. There is a unit in Champanade that is on the market and the complex has always intriqued me. Very large units with all the mac daddy features but the monthlies are $799. This puts it out of reach for most buyers.

Beach Winds
If you are looking for a deal! There is a foreclosure in Beach Winds on the 1st floor priced at $209,900. This is a 3/2 and the complex is well maintained monthlies are $405.

Short Sales
There are 2 short sales under contract that if closed will change the game for the complexes. The 1st is in Wavecrest that is a 2/2 with 1568 sq. ft. List price of $255,000. The 2nd is in Sol Y Mar and features 3/3 with 2310 sq. ft. and listed at $447,000. This complex was built in 2004 with 2 car garages under the building. I can't complain since Walker Bagwell Properties have both contracts.

Enjoy the day, friends and family!

Jim Bagwell

"There are two theories to arguing with a woman"

"Neither one works" Will Rogers We have 9 female agents so I know of what I speak!

Boat races on Cocoa Beach! Now why would anyone live in a quaint little prison town like Auburn NY?

Activity

There has been a lot of activity in our comlexes. Windrush, the front unit that is a 2/2 with 1240 sq ft closed for $97,000, that is a good deal for the buyer considering the amenities and monthly rentals.

The diplomat, 2 front units sold for the list price of $89,000 and $91,000 respectively. The other front unit is under contract with a list price of $119,900.

2100 Towers, direct ocean unit went under contract with a list price of $179,000 after 46 days on the market. Mmmmmm, maybe list price does matter.

Food for thought
A lot of you have noticed and inquired about the homes that were built in S. Cocoa Beach between S. Orlando and S. Atlantic. They were originally listed for over $1M then put back on the market for $799,900. These are called single detached homes since you have 6' between homes and they all average about 3500 sq. ft., a very small pool and either a 2 car or 3 car garage. 4 just closed for prices between $480,000 and $500,000, I do believe an investor saw an opportunity.

Have a good Sunday!

Jim Bagwell

Last flight of the Endeavor"

complete with the love bugs and Ada's head

It really is very sad to see another space era come to an end. My hat is off to all the men and women who made history come to life for our area and the entire world. A great many of us live in this area simply because the space jobs brought our families here in the first place. We owe much gratitude to the pioneers of the space industry. I remember back in the day at good old Pineda elementary, they would let us out to see the rocket launches. If you can imagine all the little kids anxiously watching the skies for the launch while looking for that bright light in the east. A lot of times it wouldn’t happen since someone forgot the matches to light the thing but other times we would see it go straight up but then do circles or zig-zag until they blew it up, now that was the best for us and they would get a standing ovation. Now if you will imagine the bravery it took for a man or woman to actually say “OK strap me in this little bitty thing and shoot me into space”. As the kids say OMG!

My hope is the next generation of space will bring jobs and great minds to our area and it is already happening. In my opinion this is the greatest place to live, raise a family and retire if you are so inclined but of course retirement is for sissies. To paraphrase Gloria Gaynor “We will survive”

Ada just closed a unit at Crescent Beach club for $365,000. This was a SE corner unit on the top floor with well over 2000 sq. ft., for we Realtors this was a win win situation for the buyer and seller which is what we live for in our world.

Jim Bagwell

Listing price is more critical than ever before

The guard on the 9th hole Lakes course

Summer doldrums strike early!

Six foreclosures at the Pier Resort have hit the market. This complex is across the street from the Cocoa Beach pier. These units were built in 2007 with 3400 sq. ft., 3 bedrooms, and 3 baths with dual A/C systems and priced at $299,900 or $88 per sq. ft. This complex was just completed at the worst possible moment.

Beach winds also has a foreclosure on the 1st floor, features include 3 bedrooms 2 baths and 1464 sq. ft. and priced at $238,000.

Windrush has a nice side unit on the 4th floor and is not a foreclosure or short sale with a price of $179,000. Priced to sell!

The Diplomat unit we mentioned previously with a price of $91,000 is under contract. There is also a new listing that is a short sale with a list price of $99,900.

2100 Towers has a new foreclosure that is a northwest corner unit and features 2 bedrooms 2 baths with 1600 sq. ft. and priced at $175,000.

Listing price is now more critical than ever before.

Jim Bagwell

"We are but a moment's sunlight"

"Fading in the grass" The Youngbloods





We are definitely seeing the inventory of ocean front condos shrink dramatically. Buyers who are looking for a market priced condo with views are now having a difficult time finding that prospect. It is more important than ever for sellers, if at all motivated, to price with the market. We are going to see closings in May that will again change the game. I believe this is all good for the long term future of Real Estate and especially for we condo dwellers. In my opinion when the new construction units are sold out making the existing units becoming more desirable we will see stabilization in the condo market. You should never expect it to be where it was because it is not going to happen for a very long time and the property value explosion will never again occur in Florida. The opportunity is there right now if you seriously want or need to sell your condo, oceanfront or not.

A new listing in Windrush priced at $287,000. This is a corner unit with wrap around balcony and northeast ocean views; this unit features 3 bedrooms and 2 baths. The kitchen and baths appear to be original requiring updates.

If interested in riverfront condos, there are two new listings in Bayport in Cape Canaveral priced at $199,000 and $219,000. These units were built in 2006 with both featuring 3 bedrooms and 2 baths. They have 2032 and 2092 sq. ft. respectively and nice Banana river views. Both of these units are priced well below the pre-construction sale prices.

For those who are looking for more personal space, you could consider the penthouse listing in Ocean Club. This unit features 4 bedrooms 4 ½ baths with 4565 sq. ft. and has a maid’s suite or could be in-law suite. The unit is listed at $1,175,000.

Enjoy the day!

Jim Bagwell