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, February 02, 2013
January home sales
The highest priced sale was a direct ocean four bedroom home with three and a half baths and 2344 square feet in south Cocoa Beach that closed for $887,900. This home has been on and off the market since 2006 when it was offered for $1,899,000. It finally got a contract when the price was dropped to $929,000 last November. The buyers paid cash.
Another beauty on the Banana River at the northwest corner of Country Club in Cocoa Beach sold for $790,000. This four bedroom four and a half bath home has 3855 square feet and a four car garage. A big pool on the river with boat house and lift round out the property.
A four bedroom canal home off Minutemen in Cocoa Beach with 1878 square feet sold for $325,000 after 73 days on the market. It had an extra 1000 square feet of unfinished upstairs space.
A non-waterfront 4/2 with 2009 square feet and a two car garage in Cocoa Isles sold for $225,000 after 117 days on market.
Three blocks from the beach in Cape Canaveral a newer 2/2 with 1736 square feet and a two car garage sold for $207,000 in just 37 days.
A foreclosed 3/2 Cape Canaveral home needing some work with 1741 square feet and two car garage closed for $166,501 after 70 days on the market.
Another handyman three bedroom, one and a half bath in Cocoa Isles closed for $165,000 after 48 days on the market. One car garage and 1328 square feet.
Our inventory of single family homes in the two cities is still very low although above the lowest point we hit late last year. There are 59 active listings this morning ranging from $2.7 million for a mac-daddy direct ocean south Cocoa Beach beauty to $109,000 for a well-used 2/1 bungalow across the street from the ocean a few blocks from the beauty. Ten of them are asking more than $900,000 and eight less than $200,000. Two are short sales and one is a foreclosure. Over half (33) of the listings are waterfront.
The recent trends are all still in play; high competition for good, priced-right properties and a high proportion of cash buyers. If you plan to get a mortgage for your purchase you need to talk to your lender before making an offer. You'll stand a better chance of competing with cash buyers if you provide a pre-approval letter with your offer. Some will not even look at offers without that letter. With lenders, local is almost always better than out-of-town. Lastly, if your buyers agent isn't telling you what you're reading here, it may be time to give em a Donald Trump and find one who knows what's going on.
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