"It's the work we avoid"

"And we're all self-employed"
"We love to work at nothing all day"
"And we be"  Taking care of business  B.T.O.

Not much new going on in our paradise so far this year.

Windward East unit 105 will close today for a price of $205,000.  The people of Windward East should be very happy that they are getting some great neighbors.

Ownership of listings

This listing above reminded me of something that drives me crazy.  There are many listing agents who have a lot of listings and after awhile it becomes a mundane process in their daily routine.  Since this listing is closing in about 1/2 hour, I will tell you that the unit has a 2 car garage instead of a 1 car garage.  Now if the agent had even gone into the garage or talked to the association she would have known this.  This is a huge factor for a condo listing on the beach.

Another client the other day brought in a huge flower arrangement for one of our agents and the unit has not even closed as yet simply because the agent is on top of everything.  They listed their home in another city and received no follow up from their listing agent who was the top listing agent in their area.    

In some cases you don't get superior service because of the size of the company.

Jim Bagwell

"Don't wanna turn that car around"

"I gotta turn this thing around"  O.A.R.

Yucky day in Cocoa Beach, had to cancel golf so sitting in the office listening to the ITunes Matchbox 20 station.  Picture is of London where I never saw the sun either.  It turns out my father was ahead of his time because he used to always say "don't make me turn this car around".  It was always my sister's fault.

Not much new during the holidays.

Our company does have 3 new listings in Cocoa Beach.
1.  A very cute 2/2 in Cape Canaveral with a side view of the ocean.  The unit has 1036 sq ft and priced at $174,900.  The HOA fees are only $233 monthly.

2.  Direct ocean condo in south Cocoa beach in Water's Edge.  the unit has been totally updated with 2 bedrooms 2 baths, 1350 Square feet and priced at $349,900.  Great place for primary home or 2nd home.

3.  For those familiar with The Constellation in south Cocoa beach, this complex has fantastic river and ocean views.  The unit on the market is  on the 4th floor with 3 bedrooms 2 baths  and 2419 square feet.  Shows like a home and priced at $524,900.

Enjoy this gloomy day.

Jim Bagwell

Christmas Surfing!!

For all our northern friends, clients and family!  80 degrees with plentiful sunshine on the day before Christmas Eve.  Keep on shoveling!

Walker Bagwell Properties are finishing up our 8th year in business.  I am proud to say 2013 has been our best year to date.  Even in the tough times I have totally enjoyed our company.  After being with ERA and Coldwell Banker, we have became like a large family.  We have added 4 new agents this year to our family.
Welcome to the following;
Celeste Van Ewyke
Morgan Campbell
Jim Holloway
Diane Holloway

Windward East

Still the most active complex but we are making progress;
Units 105 and 305 are under contract, these are the units with the extra room and square footage.  105 was listed at $209,900 when it went under contract and 305 was listed at $329,900 at the time of contract, both of these units were updated.  The two front townhomes are still active and one side unit.  The 3 units are overpriced but looking for offers.

Windrush 

Unit 201 is back on the market.  This is a 3/2 SE corner unit with 1623 square feet.  We had this unit listed last year and were unable to bring a buyer.  The owners are great people and the unit always shows good.  The only negative comments we received were choice of tile.  Listed at $345,000.

Unit 501 is on the market and I wish I could tell you where the price came from.  Basically the same unit as 201, 3 floors up and priced at $535,000.  Now there have been many newer units with more square footage sell for this price or less.  Good Luck!

Happy Holidays!

Jim Bagwell

The big biscuit

Its official The Big Biscuit is open and has big biscuits.  Food is rather down home with generous servings and a rather good lunch menu.  Give it a try.

It was just Ada and I for Thanksgiving so we went to The Mango Tree for their special menu.  It was great food and I think a lot of people had the same idea as they had to turn away 50+ people.

Windward East is still the most active complex with 5 active listings.  There is now another townhome up front on the market for $225,900.  That makes one at $230,000 and this one, they are still pushing the price limit as these 2 units are priced at the point at the height  of the market.  Prices are coming back but not this quickly.

The 1st floor unit that has the extra room and upgraded is still on the market and priced at $229,900.  This unit has the same square footage as the townhomes but you can walk out your back door to the beach and have a view.

Unit 305 is still on the market and also has the extra room with 1482 square feet, upgraded, fantastic views and a 2 car garage.  Priced at $339,000, this may be a little high but could be a very good buy.  You can comp it to unit 207 with closed for $325,000.

Sorry I have been so inactive but I had a little accident but I will be back on the course next week.

Jim Bagwell 

"Well butter my butt and call me a biscuit"

unknown in Carolina

Coming to Cocoa Beach, I assume this will be a home style restaurant.  It is located in the old Rum Runners restaurant.  Rum Runners used to be one of my favorite places with great fish sandwiches, it was never the same when it changed owners.

We would like to welcome our newest agent Celeste Van Ewyk.  Celeste is a Cocoa Beach resident and will prove to be a great addition.

Celeste has already ran into a phenomenon that every Real Estate agent will run into at one time or another and if you haven't already experienced this, you certainly will. 

The phenomenon is as follows; You get a new listing and you put it on the market after you have gone over the CMA with the seller and you list it at the top of price range.  You quickly receive an offer that is very fair and if they wouldn't pay cash it probably wouldn't appraise.  Since it happens so quickly the seller thinks "I should have listed it for more money".  I guess this is human nature but what it really is that the inventory is at a all time low so there are buyers waiting on a particular property to come on the market in a certain complex or neighborhood.  Once a property appears then they quickly make a offer.  When this happens the wisest thing to do is count your blessings and your money.  When a agent has a listing on the market they never want to sell for a price below market value.  Not only is it bad for your reputation it is bad for your commission.

The same thing happens with buyers when a seller takes their first offer without countering, they think I should have offered less.  I recently represented a couple who purchased a home in Melbourne.  We did a CMA and offered $2000 less than list price, $2500 in closing cost assistance from the seller.  We came to an agreement and when we did then the buyer thought they should have offered less even though the property appraised at our price not including closing cost assistance.

Stay thirsty my friend!

Jim Bagwell

 

GOOD FAITH

Picture inside the Linville Caverns, NC.  Deserters of the civil war used this cave as shelter.

GOOD FAITH; denotes sincere, honest intention or belief, regardless of the outcome of an action.
Good faith in real estate is most often called escrow deposit.  This is the initial deposit made into a escrow account to show the buyer's good faith in going through with a transaction.  Legally there is no actual requirement for this to happen to make a legal contract however most buyers wouldn't accept a contract with no show of a good faith deposit.

More and more real estate companies don't maintain escrow accounts in order to reduce paperwork and liability.  In this case the escrow deposit is made to the title company that is closing the transaction.  99% of the time there is no dispute about the release of escrow when a deal doesn't work out for a closing.

The 1% of time is why Walker Bagwell Properties still maintains an escrow account.  When the buyer and seller are demanding release of escrow and the title company is holding escrow, the only recourse is litigation which can be expensive to both parties.

When a dispute of escrow release occurs and the real estate company is holding the escrow then we issue a EDO (escrow dispute order) to FREC (Florida real estate commission).  FREC then looks at both sides and all paperwork involved in the transaction.  FREC then issues an EDO that instructs the real estate company how the release of escrow should be handled and who should be paid the escrow.  This process doesn't cost either party any money and there will be several lawyers review the transaction.    

Sometimes reducing liability doesn't serve the client.

A full service real estate company!

Jim Bagwell

"I tore my mind on a jagged sky"

"I just dropped in to see what condition my condition was in"  Kenny Rogers  He must be the biggest success moving from rock to country and who can forget Seinfeld's Kenny Rogers chicken episode.

A lot of activity continues in Windward East, in addition to the side unit 610 being under contract, this is the 2/2 listed at $269,000.  The 302 unit is now under contract, this is a 1/1 direct ocean unit and had a list price of $189,000.  I don't expect either to sell at list price so we will see when they close.  There is a new listing also in Windward East #309 which is a 2/2 unit with 1521 sq ft.  There is a good view to the SE.  The unit is priced at $299,900 which is a little high.

Almost every day I have a agent come in to ask about taking a listing that is overpriced.  My response is always the same, "the seller has the final say on list price".  I do however ask the agent to keep their comparative market analysis after showing it to the seller.  It is very true if the seller is not a hurry to sell or does not need to sell, you can put the unit out at an inflated price and wait for offers but it is also true you will get more showings if you are priced within 10% of the market value.  It always comes down to the true market value is what a buyer will pay for the property.

Jim Bagwell