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 - firstname.lastname@example.org
Thursday, March 03, 2011
The red-hot sales trend in Cocoa Beach and Cape Canaveral held firm through the month of February bringing the total closed MLS-listed condo sales for the first two months of the year to 76 units, a 5 year high. Single family home sales were also strong with eleven homes closed in February. In a departure from our normal pattern, none of the 33 condo sales in February exceeded $300,000. Two of the single family homes were above the half-million dollar mark.
Condo sales of note included:
Stonewood B building direct ocean 12th floor, 3 bedroom, 2 bath w/garage, 1588 square feet. Sold for $298,000 just $2000 less than asking price in 21 days on the market.
Six year old top floor Puerto del Rio of Cape Canaveral 3/2 with 2434 square feet, garage and massive wrap balcony with wide open river views. Closed for $285,000.
Foreclosed, 4th floor side ocean view Majestic Seas Cocoa Beach 3/2.5 with 2100 square feet and garage. Sold for $265,000 after 41 days on the market.
Third floor 3/2 Solana Lake of Cape Canaveral with 1956 square feet and garage. $260,000.
Short sale fully furnished and nicely remodeled Canaveral Towers direct ocean 7th floor, 3/2 with 1417 square feet and 2 ocean balconies, open parking. A deal at $250,000 in this weekly rental building.
Nicely furnished and remodeled, top floor, direct ocean Waters Edge 2/2 in south Cocoa Beach with garage, 1350 square feet. Closed for $250,000.
Seven year old Bayport villa in Cape Canaveral. This one had a 2 car garage, 4 bedrooms, 2 baths and 1696 square feet. Sold for $235,000 after 25 days on the market.
Foreclosed top floor (7th) Windward East of Cocoa Beach south ocean view 2 BR, 2 BA with garage and 1316 square feet. Closed for $200,200.
Top floor (5th) Shorewood D building 2/2 with a tiny peek of the ocean. One car garage and 1663 square feet. Sold fully furnished for $200,000 in 34 days on the market.
A lakefront 3/2 Rock Pointe of Cocoa Beach with 2149 square feet and garage closed for $189,500.
Fourth floor south ocean view C building at Royale Towers in Cocoa Beach. It had 1256 square feet with garage and closed as a short sale for $165,000.
Another Solana Lake 2nd floor 2/2 with 1828 square feet and garage sold for $160,000. It was a foreclosure. Sold in 2005 for $364,500.
A first floor direct canal Captains Cove in Cocoa Beach sold for $143,000. It had 3 bedrooms, 2 baths, 1841 square feet, deeded boat slip with boat lift and garage. Was a foreclosure and sold in 40 days on the market.
Three units closed in the month at Summerwind of Cocoa Beach (streetside across from the Publix supermarket). A fully furnished south view (distant peek of the ocean) 3rd floor, 2/2 closed for $140,000 with 1400 square feet and garage. The other two were a 4th floor, 1200 square feet, east facing that closed for $123,000 after only 15 days on the market and another 3rd floor, this one north facing with 12oo square feet that closed for $120,000.
A short sale 3rd floor 2/2 Siesta del Mar in Cape Canaveral sold as a short sale after a grueling 494 days on the market for $135,000. Was a south ocean view with a garage.
A foreclosed Majestic Bay townhome in Cape Canaveral closed for $110,000. This six year old 3/2 had 1783 square feet and a 2 car garage. Sold in 2006 for $280,000.
One of my favorites was a 1/1 unit in a small (6 units) oceanfront building in south Cocoa Beach that allows weekly rentals that sold for $70,000.
Rounding out the condo and townhouse sales were assorted units in Ocean Woods, Four Seasons, Canaveral Bay, The Oaks, Star Beach, Ocean Park and others at prices between $100,000 and $20,000.
Single family home sales of note included:
Two direct ocean homes closed in the month. A neglected trophy home in south Cocoa Beach sold for $600,000. This once majestic 4239 square foot home has two stories with 6 bedrooms, 3.5 baths, 2 car garage on .34 acres lot with huge decks on 75' of ocean. Is going to need a ton of work.
Another was a short sale just south of downtown Cocoa Beach. This one had a guest house and a total of 2177 square feet. Was originally built in 1946 on 50' of Atlantic Ocean and was first listed in December 2008 for $1.1 MM. Closed last week for $560,000.
Four non-ocean Cocoa Beach waterfront homes sold for prices from $337,500 for a funky open river 3/2 on Jack Drive to $232,500 for a canal front 4/2 on Chipola that needed work.
Five non-waterfront houses closed at prices from $225,000 for a short sale, original condition 3/2 on the Cocoa Beach Country Club golf course to $112,500 for a 2/2 half-duplex two blocks from the beach in Cape Canaveral.
The cobia showed up in decent numbers last week following the giant manta rays up the coast in their annual migration. While the ocean was calm last weekend most boats were catching their limit of 2 fish per angler. Fish up to 75 pounds were caught. The wind cranked up Monday and it's been unfishable ever since.
"God loved the birds and invented trees. Man loved the birds and invented cages."___Jacques Deval
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