Saturday, July 27, 2013

Change Has Come

That loud whining sound in the air this last week was the sound of hundreds of distraught Realtors in Brevard County moaning and complaining about our powerful new MLS system. The majority, however, have embraced the new system and are working through the transition despite having to learn new software on the fly while conducting normal business. It has been challenging. Consumers going to will now be directed into the new system. Don't despair on the first visit. It's fairly intuitive but if anyone has questions I'll do my best to assist. One powerful new feature is a custom portal into the MLS where favorite listings and searches can be saved. If anyone would like one, send me an email and I'll set it up for you.

Our stats aren't quite as reliable this first week as many listing agents are still trying to figure out how to add and close listings so I'll report on what is showing this morning. According to FlexMLS we have had a total of 47 closed condos and townhomes in Cocoa Beach and Cape Canaveral so far in July 2013. Six sold for less than $100,000 and seven closed for more than $300,000. The two highest sales so far were both at the Meridian oceanfront in Cocoa Beach. These 2072 square foot 3/3 units closed for $650,000 and $575,000.

Two of the 47 were short sales. One was a 3/2 villa with 1507 square feet and 2 car garage at Bayport Cape Canaveral that sold for $205,000. The other was a lakefront Harbor Isles 2/2 in south Cocoa Beach that sold for $130,000.

Seven of the sales were bank-owned. They included;
A 2nd floor 3/2 direct ocean Coral Sands w/garage in south Cocoa Beach for $270,000.
A 2nd floor Pier Resort 3/3 with 1900 square feet and garage for $175,000.
An Ocean Woods Cape Canaveral 2/2 with open parking for $115,000.
A 2nd floor north bldg. Twin Towers 2 bed 1.5 bath w/carport for $104,900.
A 4th floor 900 sf Fountain Cove 1/1 w/garage for $92,000.
A 2nd floor Cape Shores 2/2 with 1091 sf and open parking for $79,900.
A Ridgeview 2/1 w/carport and 756 sf on south Brevard Ave. Cocoa Beach for $53,900.

Our inventory is at an all-time low with a total of 250 active for sale condos in Cocoa Beach and Cape Canaveral showing right now, 24 of those distressed. There may be a few new listings that haven't shown up yet as listing agents are struggling trying to figure out the new system but the trend before the change-over was shrinking numbers so I suspect that the real number is no more than 260. Compare this to almost 1200 listings in late 2006 and early 2007. Construction activity of single family homes is active right now in Cocoa Beach with several new homes slated to start shortly in addition to those currently being built.

Lobster mini-season this past week was successful with some of the biggest shallow water bugs caught in recent years. Those pictured were caught from a beach dive in Indian River County. Tarpon and other big predators are thick around the huge pogie schools off Cocoa Beach right now. They are easily reached by small boats from the Port or by kayakers from the beach in our calm summer ocean conditions. Remember the sunscreen and stay hydrated. Tropical Storm Dorian is approaching from the east but not expected to bring much impact to us. That could change.

"Why would I lay up now that I'm rich? I didn't do that when I was poor." __Angel Cabrera