Sunday, November 27, 2011

Waiting on a foreclosure

In response to a request for comments on the state of the distressed market:

So far in the month of November there have been 31 closed residential properties in Cocoa Beach and Cape Canaveral as reported by the Cocoa Beach MLS, 25 condos and 6 single family homes. Of those, 5 condos were short sales and one single family home was a foreclosure making distressed sales 14% of the total residential market in November (so far). Our inventory as it stands this morning November 27, has exactly the same proportion of distressed offerings. Out of a total 445 properties (369 condos and 76 homes), 41 are short sales and 21 are foreclosures, 14% of the total, well off the numbers of the recent past. Of the total sales so far in 2011, 31% have been distressed.

Just one year ago, November 2010, a whopping 41% of all residential sales were distressed, 22 out of 54 total MLS-listed residential properties closed in the two cities. The second overwhelming wave of foreclosures being predicted by the "experts" for well over a year has yet to materialize in our market.

Downtown Cocoa Beach is hopping today with thousands of visitors here for the Art Festival which was serendipitously kicked off at 10 AM yesterday morning with NASA's launch of the Mars rover aboard an Atlas rocket. Only in Cocoa Beach.

"You can't find nothing at all, if there was nothing there all along." ---Ben Gibbard


  1. Interesting.I never seen art festival since before.

  2. Hello Larry,
    I really hate bad grammar! I don't know who Ben Gibbard is, but why didn't he say " You can't find anything at all " and not " nothing "? It just doesn't make sense.......

    Sorry about that....

    Great show!!!

    Colin Oldfield.

  3. Just a rock and roll guy working with a needed number of syllables. Same deal as McCartney's "in this world in which we live in" or Jagger's "I can't get no satisfaction." In songwriting which is the master, the music or the grammar?

  4. Yes I know, but " you can find nothing at all ", sounds OK to me. It could be he thought it was alright anyway, lots of people do.

    Still as Snoopy would say " A hundred years from now, who'll know the difference ".

    Happy New Year from London, and....

    Cheers to you and all of your fans.