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
Sunday, April 12, 2020
I'd Love It If We Made It
The latest report indicates there are now six Covid-19 cases in Cocoa Beach and one in Cape Canaveral. There are six cruise ships either anchored or drifting offshore at the moment with one at dock inside the Port. Officials at Port Canaveral have said that in the first three months of the "no-sail" order from the CDC they expect to lose $22.5 million in docking, passenger and parking fees. They are still taking in $1.5 to $2 million a month in fees from the short dockings when the ships take on supplies before returning to anchorage offshore. The lost revenue to associated local businesses from the tens of thousands of missing cruise passengers is much more difficult to estimate but it's safe to assume it's quite large.
Hearing reports of wildlife taking advantage of abandoned cities including photos of coyotes walking down empty city streets in San Francisco and Chicago did not prepare me for the sight of a wild turkey strolling across my yard yesterday. This hen was last seen heading north on the beach side of A1A in south Cocoa Beach. Best of luck to her and I hope she doesn't cross paths with our bobcat.
Real estate activity continues to decelerate with only seven residential properties going under contract in our two cities in the last seven days. We've managed to close 15 in the same seven days but I expect that number to ramp down as the pipeline of new contracts dwindles. There are 219 existing condo units for sale this morning and another 21 offered as pre-construction reservations. I have not heard if the new oceanfront project in downtown that represents the bulk of those 21 pre-construction units has decided to delay ground-breaking but I imagine there have been discussions. I will report as I hear of developments.
Florida's online unemployment compensation system has crashed and the only way to apply now is with a paper form. For locals who need to file, paper forms are available at the front of the Cocoa Beach Library which is closed for other business. Best of luck to those trying to navigate this morass that was designed to fail which it has just done in magnificent form. The politicians must be proud.
A happy and healthy Easter to all.
"And I'd love it if we made it." __Matty Healy - The 1975
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