This is one insider's unpolished take on the current state of the Cocoa Beach and Cape Canaveral, Florida real estate market. I am a licensed agent and partner with Walker Bagwell Properties. My sometimes blunt opinions here are not welcomed by the real estate mainstream. Whatever. Hopefully my insights will allow you to make better decisions about your participation in this market.
Larry Walker - 321.917.5786 - email@example.com
Saturday, October 17, 2009
Space shuttle launch as seen from the International Space Station.
September's unseasonably strong sales trend is intact halfway through October. As of this morning twenty condos and townhomes listed on the Cocoa Beach MLS have closed in the two-city market, eight of them in Cape Canaveral. Last October saw only 23 total closed sales in the month. We look to easily trounce that number this year with 31 newly accepted contracts since the 1st of October in addition to those already pending. Half of the closed condo sales so far are for less than $180,000 with only one for over $500,000. The price trend continues to creep downward in most instances with a few notable exceptions.
There have been three single-family home sales in the two cities so far, highest price; $226,000 for a nice, updated 3/2 on Curacau in Cocoa Isles.
A top floor Mystic Vistas "A" building, east-facing, 3/2, furnished, closed for $403,500, twice what lesser view units have closed for recently in the complex.
A 3rd floor north corner, 3/3 Meridian, also furnished, sold for $725,000.
A top floor never lived in Garden Bay 3/3.5 closed for $410,000 or about $200,000 off the original asking price.
A 4th floor south view River Bend 3/2 in south Cocoa Beach sold for $240,000 as a short sale. Incidentally, only two of the twenty closed sales this month have been short sales, a surprising trend I noted last month.
A very nice, four year old Bayport 3/2 townhome with 2-car garage in Cape Canaveral closed for $205,000.
The uncertainty of association health was apparently mitigated enough by a super-low price on a foreclosed South Beach Keys unit that someone was willing to step up and take the risk. This direct Banana River 3/2 unit with 2-car garage in south Cocoa Beach that sold new in 2006 for $495,000 went for a shocking $175,000. Expect more news from this small complex.
A Majestic Bay townhouse in Cape Canaveral that sold new in 2005 for $274,900 sold as a short sale for $140,000. Not bad for a 4 year old townhome with 2-car garage.
And, a Brisa del Mar condo conversion on Ridgewood Ave. that sold for $200,000 in 2005 closed for $90,000.
I was sitting in the water recently on a small, glassy day on a 7'0" fun shape when my 15 year old neighbor paddled over and asked why I wasn't riding my longboard. I said, "I'll ride it if you'll go in and get it for me." Laza looked at me like I'd suddenly sprouted antlers, said, "I'm good" and paddled off for saner waters. Kids.
I'm off on a boat delivery tomorrow and will be incommunicado for a week or so, weather depending. In the interim, Danielle can be reached at firstname.lastname@example.org for any issues or inquiries. As a wise man once said, "All work and no play makes Jack a dull boy."
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