How do you handle multiple offers on a property?

I was recently asked this question?  The way it should be handled, in my opinion, to be fair to all parties is to inform all parties of the situation and to ask for their best and final offer as far as price and terms.  I am not saying this is always how it is done but it should be the way.

Picture is of the living room view of a new rental listing we have in Windward East.  The unit is a 3/2 sand dollar with brand new carpets and laminate floors.  The unit is unfurnished and will make someone a wonderful home for the long run.

The unit in Windrush that is a direct ocean 2/2 with 1444 sq ft has closed for $273,500.  The unit was only on the market for 19 days.  This condo was on the 6th floor with great views.  The big difference between Windrush and Windward East is the monthlies, Windrush is $390 and Windward is $335.

Enjoy the boat races and car show!

Jim Bagwell

Boat races Cocoa Beach this weekend

Although good for the economy, get ready for that crazy traffic.  Lets hope we have a sunny weekend with no wind!

Nothing new in our complexes except that the 5th floor side unit in Windrush closed for $199,500, the unit was listed for $200,000 with 2 bedrooms 2 baths.

Interesting to note that on MLS, there are no new construction ocean front condos on the market.  The closest is the site between Minuteman and N. 1st st.  They are planning to build a new small complex if they can sell enough pre-contruction units, the one that is listed is a 2/2 unit with 895 sq ft, direct ocean and listed at $277,000.  If you will remember this is the site where the complex was so severely damaged in the hurricanes that they tore it down.

Enjoy the day!

Jim Bagwell 

"Eight day a week"

"Is not enough to show I care"  The Beatles

It seems like we have been working eight days a week lately. 
Picture is the balcony view from a Windward East unit that my wife is closing today.

We have reached the point in the market that we are now back to multiple offers on nice well priced units that are located on the beach.

In our 4 complexes there are only 6 active condos.  One in 2100 Towers, two in Windward East and three in Windrush.  There are now 4 under contract in the complexes, 3 in Windrush and 1 in The Diplomat.  The Windward East unit closes today for $175,000, this was a good price for buyer and seller for a top floor unit with 1 bedroom and 1 bath.

Walker Bagwell Properties have done their part.  Sales meeting this week showed 7 contracts on the board.  I do love weeks like that.

Enjoy the day!

Jim Bagwell
  

Bye Bye Birdie!

I must admit it was a sad day to see the last shuttle heading to the Smithsonian.  I can vividly remember watching the Challenger going to pieces outside my office with people crying and wondering how this could happen.  This program has a lot of brave men & women doing what most wouldn't even consider.  Speaking of brave I wonder what that 747 pilot thought the 1st time they said they going to bolt a shuttle on top and he was going to take off.

Nothing new to report in our complexes.

Right now our company has 6 buyers looking for end units above the 2nd floor with none to be had.

Enjoy the day
Jim Bagwell

"All the vampires walkin' through the valley"

"move west down, Ventura Blvd" Tom Petty, a Florida boy

Picture is of Kelly Slater, I don't think he will ever retire and why should he.

Cocoa Beach is having a board meeting this week to vote on whether or not to place a lien on the glass bank building. The owner now has $32,000 in fines for bulding issues, seems like a no-brainer. It would certainly be nice for something to be done with this building.

Still not much new in our complexes. Windrush has a side unit on the 5th floor that was listed for $200,000. This unit is now under contract.

Interesting to note that in the Emerald Seas complex which is located on the ocean on Ocean Beach Blvd has a new listing that was listed on 4/10 with a price of $349,900. This unit has 1602 square feet with 2 bedrooms 2 baths and direct ocean on the 4th floor. 3 days later another unit was listed in the same complex for $275,000. This unit has 2027 square feet with 3 bedrooms 2 baths, also direct ocean but on the 2nd floor. This is quite a price difference for 6 floors.

Enjoy this windy Sunday.

Jim Bagwell

"A nickel ain't worth a dime anymore"

Yogi Berra Yogi also said that "baseball is 90% mental and the other half physical" Hmmm!

Picture is of the view from balcony of unit 313 in the Windrush. It is a north view that just closed for $190,000, it was listed at $199,900. It seems that Windrush is one of the most proactive complexes around the beach.

Villa Verde is the complex on south Cocoa Beach that was distressed and they have sold many at distressed prices. They have now lowered the price of a 3rd floor unit from $425,000 to $399,000. This is a 3 bedroom 3 1/2 bath with 2453 square feet. This unit is equipped with all the bells and whistles including one touch lighting, home audio and air conditioning.

Have a good one and hope everyone had a nice Easter.

Jim Bagwell

"In the middle of difficulty lies opportunity"

Albert Einstein The difficulty is the Real Estate market, the opportunity is The Diplomat.

As you are looking at this picture the 330 bldg is on your left 2nd building in from A1A. A new foreclosure is listed at $85,500. The unit has been upgraded and we could probably get it for a little less than list price. Cash offers only!

Thank you
Jim Bagwell