Cocoa Beach Turkey Day

Thanksgiving day the headline on the front page of Florida Today was “Home prices allow more buyer’s in the game”. As you know I usually am very skeptical of most stories in print since they are usually skewed to fit the story.

During the past 2 weeks some sold homes were extremely good deals for the buyers and I would have to agree that buyers are able to get much more home for the dollar. The area will always dictate the prices to a certain degree, for example the prices on beachside condos are still remaining quite high although more good deals on beachside homes are starting to appear.

In Merritt Island there were several very good deals closed for the buyers and for the sellers depending on their circumstances.

A home built in 1965 with 4 bedrooms, 2 baths and a 2 car garage was listed at $139,900 sold for $139,500. Days on the market was an incredible 29 days.

A foreclosed home on the golf course in “The Savannahs area of Merritt Island” was originally listed at $304,900 after foreclosure it was listed at $199,900 and sold for $160,000. Pool home on the golf course with pool, 4 bedrooms, 2 ½ baths, 2477 sq ft.

The good deals in Suntree/Viera are still so numerous it is becoming difficult to quantify. For the retiring person or the1st time buyer I will highly recommend this area. Even if you have very specific wants and needs in a home it is becoming easier to find the home of your dreams.

Have a great Thanksgiving weekend!

Shuttle

We took this picture last night during an open house at the historical home we have listed on the Indian River in Titusville. It is amazing that during the early 1900’s people used to gather in the back yard to watch riverboats now they gather to watch the shuttle.

Recently my wife asked all the agents in our office to respond on what they liked about Real Estate, almost unanimously all our agents said it was meeting people. One agent likes the paperwork, strange but we couldn’t get along without her.

We had one of our most emotional closings this week that I have ever been part of to date. It was a short sale that took long hours and a lot of paper work faxed and emailed back and forth to the lender and the PMI Company. There was not a lot of money to the Real estate companies involved in this transaction but it definitely was rewarding.

The sellers are two very nice ladies who just didn’t want to live with a foreclosure. During these times there are a lot of people who have never had to deal with the stigma of foreclosures and bankruptcies’, there are people who just can’t live with this and short sales are an alternative to worse hits on your credit reports. It takes a lot of patience and a lot of work but it can be accomplished.

To be successful you have to love what you do.

Jim Bagwell

"Its a beautiful morning"

You got to love the "Rascals"

Another beautiful Florida day, I must admit it is hard to complain about where we live.

Veteran’s day is upon us again. With the election and the economic downturn debacle we are currently enduring we sometimes lose touch with some very important issues. There are still American men and women dying on foreign soil and it is being largely overlooked unless you have a loved one in the conflicts that are underway. Most enlisted men and women have significant others who are in the same economy that we civilians are facing today, the big difference is with the pay scale enjoyed by enlisted personnel in today’s military they are more dependent on the 2nd income than most especially when children are involved. There is also the small item of facing hostile action everyday they are in harm’s way. So I just ask that we give thoughts to the sacrifices being made by all our military serving all Americans.


The market
I would still have to say that prices are still on the downward trend and may last for another 6 months. The new listings that I like are as follows:

Merritt Island in a beautiful section off S. Tropical Trl. Over 2300 sq ft with pool on .34 acre, priced at $299,900.

Viera on Crane Creek again, a beautiful pool home with almost 2000 sq ft that is now a short sale. This is priced at $225,000, we have sold identical homes for $350,000.

Merritt Island on a canal with pool. Now a short sale priced at $239,900.

This Merritt Island home has definite possibilities. Direct Banana River with almost 1/2 acre. 4 bedroom 2 ½ baths, over 3500 sq ft, 3 car garage, pool, great views. For the right price this will be worth the money.

The bargains are there if you are diligent.

Jim Bagwell

Yada Yada Yada

Picture provided to me by our good friend Steve Donnelly from Auburn, NY.

Listing stuff

I was recently doing some research on listings that have sold or not this year. For a Real Estate firm to survive you must have listings, the trick is to get the listings that have a chance to sell in today’s market. One of the hardest things for the listing agent to do is to tell their client they are overpriced. In reality you are doing your client a disservice by not telling them. The primary point of listing the property is to sell the property not to make the company phone ring.

One home that I looked at hasn’t sold and looks to be a beautiful home which I have shown. It went on the market in Jan of 2008 priced at $749,000 this company had the listing for 6 months and reduced the price to $675,000. It was then given to another company and listed it at $675,000; it stayed at this price and company for 90 days. It was then given to another company and is now priced at $599,900. I submit that it may have been the price all along. I hope the seller’s get it sold and it will be a nice home for someone.

On the other end of the spectrum is a home that just recently closed. Originally it listed in April of 2006 for $799,000 with a very good Real Estate agent. It was reduced and reduced and reduced and the final list price was $459,000 sold for $395,000. It was on the market for 905 days with the same agent.

As a seller you can always go to the real estate office and have your agent go on the computer and show you the comps for your home. One of the best methods is to take you and show you the competition. That way you can actually see what you are up against.

Thanks

Jim Bagwell