Only in Cocoa Beach

Only in Cocoa Beach

I have never thought of us as the Mayberry of Florida but I have worked all over the country and I have never encountered a situation like I did yesterday. I was walking from our office to the bank. A UPS driver stopped me and said I had a package being delivered to my home and I would have to sign so he gave me a number to call the other driver. The other driver then came to my office to deliver my package. I can tell you this just doesn’t happen in Miami or Atlanta.

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Market update


In a snapshot of the market looking at only Cocoa Beach/Cape Canaveral the numbers for February are as follows:

After I clean the data I come up with 115 new listings in the month of Feb I am not relying on this information since there is so much manipulation going on with days on the market. This includes some new condos that you could have purchased one year ago but come up as new listings.

There were 39 sales in the month. Naturally this is our peak season for activity and it has been rather active. I believe the closed sales in March will be higher yet. Truthfully 3 year’s ago these numbers would be terrible for the beachside and one company would easily beat that by themselves. In Real Estate the market always changes so we have to be able to change with it. Weekly and monthly rental properties are still the hottest commodity because of the cash flow. A lot of these properties make sense even today because of the price reductions.

Frustration

A good friend of mine used to always say in Real Estate “We have met the enemy and it is us”. Short sales are good for the owner and good for the investor or home buyer, it is also a time consuming process. It does no good whatsoever to put a listing in MLS as a short sale if the owner has not done their homework. They should prior to listing, contact the lender and inform them of their decision. They will then have to submit a package to the lender showing why they have to do this and ask for permission for the agent to contact the lender. If you don’t follow these steps then the lender has no idea what to do if they receive a contract from the listing agent. When you make an offer on a short sale ask your buyer’s agent to ask the listing agent if the package has been submitted and if the agent has talked to the lender. It will usually still take longer than a normal contract but there is at least a light at the end of the tunnel.

Have a good one