|One of the smaller waves on Sept. 8, 2012 in south Cocoa Beach|
Of the 54 sold units, 16 were distressed, five foreclosures and eleven short sales. That's a higher percentage than exists in the "for sale" inventory because of the number of previously contracted units. The current level of distressed condo inventory in the two cities is at 14%. Without the nine bank-owned units at the Pier Resort the ratio is 10%. There are a total of 272 condo and townhome units for sale this morning, right at the record low number reached a few months ago. The same sparse conditions exist in the single family home market with a measly 49 actively for sale on the Cocoa Beach and Cape Canaveral MLS. Only one of those is distressed, a nine year old 4 bedroom, 3 bath home on the water in Cocoa Beach with a suggested price of $419,900.
This has been a week of excellent surf. We got our first pulse from Tropical Storm Leslie last weekend and it built through the week with some help from Hurricane Michael until the crescendo yesterday when waves were double-overhead plus in south Cocoa Beach with perfect conditions. It's still there as I write this, although smaller, and expected to be fun for a few more days. There are a lot of happy, tired residents today in this lucky little beach town.
"You'd be surprised how little you can live off if you're willing to sacrifice anything that makes life enjoyable." ___Unknown