Cocoa Beach Confusion

I can only say that we are seeing some positives and some negatives in the market as of late. Yes there have been some excellent choices made by property buyers and they are very happy with their investments. There are also some property owners who are trying to sell their property but are still priced out of the market. I totally understand to feel that you are losing money on a transaction is a bitter pill to swallow especially when your neighbor sold the same house 3 years ago for $100,000 more than what you are listed right now. Look to your motivation and your carrying costs and the fact that the market price may slip again before we see the light. Now if you sell your property today and then the market slips again, you would be the winner.

1st quarter sold stats

Brevard county residential Cocoa Beach/Cape Canaveral
Jan 341 units sold Jan 34 units sold
Feb 474 units sold Feb 40 units sold
Mar 537 units sold Mar 30 units sold


The other shoe?

Interestingly enough, we were talking about auctions in last week’s sales meeting and the fact that they weren’t working because of the minimum bid requirement. Today we received a card advertising an absolute auction with no minimum bid or reserve. This complex is new construction and some units have ocean views. All the units are large modern units, most have 3 bedrooms 2 baths and the complex appears to be well built. We have talked before about what will happen to the large complexes that are built and not sold out, this could be a preview. I plan on attending the auction and I will let you know how it went down.

We have also talked about the large developer in town who never lowers prices but offers incentives, well today that just changed with the developer lowering prices for the 1st time that I know of in the Cocoa Beach area.

The sound you hear is the other shoe dropping or maybe opportunity!

Next week we will explore Real Estate deceptions. You may think you are on a public site but in reality you are on a brokerage or agent site and you wonder where those emails come from.

Jim Bagwell
321-213-0615
walkerbagwell@aol.com