Monday, January 21, 2013

January half time

There are 302 MLS-listed condos and townhomes for sale in Cocoa Beach and Cape Canaveral this morning, slightly more than the average for the last few months. In addition, there are 55 single family homes. Of the 357 total residential listings, 10% are distressed, the lowest percentage since 2007.

23 condos have closed so far in the month, all but two under $250,000. The two higher sales were both direct ocean, one a short sale 3/2 at Meridian that finally closed for $515,000 after months under contract. It sold brand new in 2007 for $679,900. The other was a 3rd floor Shorewood southeast corner 3/3 fully furnished that closed for $430,000.

A nicely updated ground floor direct ocean Sands 2/2 in downtown Cocoa Beach sold for $242,500 fully furnished.

A foreclosed 4th floor direct ocean Canaveral Sands 2/2 went for $233,000 or $33,000 over asking price. This will likely go down as the smoking deal of the month.

A fully furnished 2nd floor Shorewood 3/2 corner without an ocean view closed for $215,000. Giant wrap-around balconies, 2104 square feet and a one car garage.

Two canal front Beachwalk 2/2 units closed for $165,000 and $128,500. Both had boat slips with lifts and one car garages. The cheaper one needed quite a bit of work. The other was upgraded and fully furnished.

There are a few interesting new oceanfront listings in the last couple of weeks for those looking, including four in south Cocoa Beach. Competition for the good ones remains high. If you paln to get a mortgage it would be constructive to talk to your lender before beginning the search especially if looking at condos. The rules remain different for them. It would probably be prudent as well to get out and enjoy this beautiful weather. It is January after all and things could change quickly.

"How could we possibly appreciate the Mona Lisa if Leonardo had written at the bottom of the canvas: 'This lady is smiling because she is hiding a secret from her lover.' This would shackle the viewer to reality."