"In the middle of difficulty lies opportunity"

Albert Einstein

Picture is of the family room in Villa Verde in south Cocoa Beach


Still not much going on in our complexes except for The Diplomat. The short sale and one other listing is under contract. It also looks as though we have a meeting of the minds on our listing so that only leaves the oceanfront listing available in The Diplomat.

Villa Verde is the green building that is gated in south Cocoa Beach. There are 6 units now on the market being sold by the investor group that took them back from the developer. They range in price from $345,000 to $399,000. These units all have 2875 sq. ft. with 3 bedrooms and 3 1/2 baths. They all have all the upgrades and all the technology features like one touch control of lights, AC,shutters and built in TV in the kitchen. The penthouse is not on the market as yet since the owners are deciding whether to divide into 2 units. This unit is the entire top floor with 5750 sq. ft. This could be a opportunity for the right investor especially if they went for the building.

Have a great Sunday!

Jim Bagwell

"New opinions are always suspected"

"and usually opposed because they are not already common"
John Locke

Walker Bagwell preparing for takeoff.

Nothing new going on in our complexes except for The Diplomat.

A new listing on the ocean has came on the market. All the oceanfront units have 2 bedrooms and 2 baths with 900 sq ft. The new unit is listed at $215,000, this is not bad for a oceanfront unit.

For those of you who are interested in commercial real estate, a double unit in the Cape Royal building listed at $240,000 just sold for $79,050. This unit has 3200 sq. ft. and you can divide it into 2 units. That could be a good income producing property.

Well the mixed use amendment has passed in Cocoa Beach. This was a very passionate issue on both sides. Don't look for any changes to occur for years to come. It does give property owner's options. Yen Yen's restaurant is planning on adding a asian market above their restaurant.

Come on Gators, beat a ranked team.

Jim Bagwell

"My blood runs cold"

"my memory has just been sold, my angel is a centerfold" Ada and I went to Gainesville to watch the Gators lose to Bama when this song came on the radio. We were very proud we remembered that it was by Gary Lewis and the Playboys, then I found out it was by the J. Geils Band. It is back to the ginseng for us.

Blast from the past, night launch of the shuttle. Maybe Boeing can make it work again.


Things picked up a bit since our last post on the 23rd. After we listed a Diplomat for $99,900 there has been a new listing that is a foreclosure and listed at $94,900 in the same building. It appears to have been updated to some extent.

There have been 2 sales in the Windrush. Both side units with a north view of the ocean. The 1st was unit 413 with 2 bedrooms 2 baths and 1271 sq. ft. Listed at $220,000 and sold for $213,000. The 2nd was unit 411 with 2 bedrooms 2 baths and 1517 sq. ft. and a sand dollar floor plan. This unit was listed at $234,900 and sold for $218,000.

Since the last post there have been 7 new listings that are called ocean front but only 4 actually are ocean front units although all 7 are in ocean front complexes. None are really exciting but one of them is in the Marlin Apartments next to the old Holiday Inn. Listed at $99,900, it is a 1 bedroom 1 bath unit with 716 sq. ft. The complex has on site management and is a popular rental destination.

Enjoy

Jim Bagwell

"Its a beautiful day"

"Don't let it get away, It's a beautiful day" U2

Picture is of our listing in Ocean Sands scheduled to close this week. It can be challenging to close with lenders today but luckily this is a cash deal.

It has not been a busy October as yet but that is not surprising. We normally have a slack period from Labor Day through December.

We do have a new listing in The Diplomat. It is on the north row in the building next to the ocean building. Listed at $99,000 and the unit is on the 2nd floor, it hasn’t been updated but shows nice. Not being a short sale or a foreclosure, I expect it to sell rather quickly.

In the 2100 Towers, the foreclosure on the 1st floor listed at $149,000 sold for $130,000. This unit had 1600 sq. ft. There is a listing on the 6th floor that has 1200 sq. ft. that is pending. It is a river view unit and we will have to see what it closes for the sale price.

In Cocoa Beach and Cape Canaveral there have only been 8 new oceanfront condos listed this month. These units are priced from $129,000 to $669,000.

There have been 7 oceanfront condos closed this month and I am proud to say that Walker Bagwell Properties had 3 of the sales.

Enjoy this beautiful day!

For you Gator faithful, Tim Tebow gets his 1st start today in Miami.

Jim Bagwell

"Never kick a cow turd on a hot day"

Hank Williams jr. said this was quoted by Pres. Truman in the rose garden in 1948 while he was trying to regroup after his idiotic rant on Fox & friends. I realize that Hank is an intelluctual but before Pres. Truman, Will Rogers said "Never kick a cow chip on a hot day"

This picture is of the cabbage palms on the dunes of Windward East. Cabbage Palms are not protected by anyone but if properly trimmed they can look like the next picture. Now I understand that this only affects the 7 1st floor owners but Windward East has one of the best associations on the beach and the dune line should reflect that in being well maintained.

These are well trimmed cabbage palms but they won't grow this tall unless trimmed.

These are the Seagrapes, with a permit they can be trimmed down to 6' from the ground line from which they grow not the sod line. These are beautiful plants when properly trimmed.

Finally this is one of 2 Brazilian Pepper trees that we have in our dunes. This plant is not indigenous to our state and groups have taken them out where they can, the problem is they choke out all other plants around them to expand. They have to be dug up and not cut down. I am not complaining I am just 1 of the 7. Windward East does have one of the best associations and have spent a lot of money on landscaping but the dune line is one of the most valuable assets for property values and the envirionment.

Alright that is out of my system! Windward East 604 was briefly under contract but is now back on the market. It is a shame that when the buyers went back to the unit after that huge rain storm this past weekend, there was a leak from the upstairs unit and we think they got worried. This happens in a condo.

2100 Towers foreclosure on the 1st floor closed a couple of days ago. This unit has 1600 sq. ft. and 2 bedrooms 2 baths. Listed at $149,000 and sold for $130,000.

Thanks for letting Hank and I rant!

Jim Bagwell

COWABUNGA DUDE

Surfs up at Cocoa Beach Pier. Cowabunga is also the greeting from Chief Thunderthud on the Howdy Doody show.

The Diplomat
The foreclosure listed at $96,500 has closed for $89,000.
That only leaves 2 active. One is a short sale listed at $90,000 the other is listed at $114,900.

2100 towers
The foreclosure on the 1st floor has been reduced to $149,000. This unit has 1600 sq ft and is a 2 br 2 ba, good buy for someone who doesn't mind 1st floor.

There is a block of Mystic Vistas that have came on the market being sold by the owner/developer. They are priced according to sq ft. The prices are from $199,900 to $209,900 and the sq. footage range from 1686 to 2059. For the right price this could be a good deal for the investor buying the block.

New listing in Stonewood 1st floor has been listed at $169,900. The unit has 1317 sq ft but is in the most undesirable building as far as views go. With all the amenities at Stonewood it is still a good buy.

Jim Bagwell

"All the things I could do"

"If I had a little money" Money money money ABBA

Picture is of the complex behind Florida Seafood that we talked about a couple of posts ago. This is the complex that was built as condos and didn't sell, they then marketed them as shared ownership and still didn't sell. They were then put on the market as unfinished units at very distressed prices. A block of units were bought and are being finished and are already back on the market. I knew this was going to happen since there is a lot of room to walk away with a lot of profit.

They are not skimping on finishing the units with Italian marble throughout, Kraftmaid cabinets and stainless steel. The complex features pool, exercise room and boat dock.

To give you an idea of what has happened, unit 306 was purchased for $170,000. The unit has 3 bedrooms 2 baths and 2084 square feet. It is now on the market for $295,000. After getting a discount with multiple units being finished at the same time, I would think $100,000 profit is on the table. Not too shabby! The penthouse is on the market for $629,000, the unit has 4 bedrooms 4 baths and 4299 square feet.

Good move by someone, you may say I am a dreamer!

Jim Bagwell