a 1525 sq.ft. condo in an oceanfront building with this side ocean view for $212,000 or $139/sq.ft., exactly half the original asking price in February 2006 of $425,000.
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Also closed was a brand new 2032 sq.ft. condo in the building below with a view of the river across the street in Cape Canaveral for $238,000 or $117/sq.ft.
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Another 2/2 oceanfront condo with 1316 sq.ft. and the view below sold for $262,000. Originally listed for $329,000 in April this year.
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And my nomination for smoking deal of the month; a 2100+ sq.ft., 7th floor Constellation 3/2 unit that has been beautifully remodeled to like-new luxury status. Sold for $495,000. It was originally listed for $759,900 in February 2006. This unit has expansive ocean views and all 3 bedrooms have sliders that open onto balconies with killer views. The master opens onto the ocean balcony and the other bedrooms open onto a balcony with views across the Banana River to Merritt Island. Below is a shot of the kitchen which has the most beautiful granite I've ever seen.
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There are other listings that are pending that I suspect will break new ground to the downside. I will report on any of note as they close. If you're looking to buy, do your research, be careful and don't be afraid to offer low. If you're selling, don't deny the trend and don't make a mental line in the sand. It has proven to be costly. Next post will be on short sales, the new twist on foreclosures.
