Median Home Prices ????

Picture is from one of our listings on Cocoa Beach, nice home!

There is yet another new survey in the paper today and it concerns median prices for homes in Brevard County.

According to the survey the median price home in Brevard is now $93,200 down from $202,500 in 2007.  This is totally deceptive to the public.  The group that is coming back to the Real Estate market in droves are the investors.  This group is very savvy in putting their money in Real Estate.  They now see that you can go to the mainland in cities like Palm Bay, Cocoa, Rockledge and Titusville and purchase homes that they intend to put on the market as rental properties.  These homes can be purchased and the cash flow is now coming back to the investor.  They can then wait for the market to come back and get some equity from these homes.  We still have the group that are purchasing homes as 2^nd homes, upgrading their existing homes and retirement homes or believe it or not moving to Florida not to have to shovel snow any longer.  For this group the median price is an entirely different animal as it is much higher.

The same is true for the condo market but even more dramatic.  The median price of condos includes all condos sold in Brevard County.  Now if you wanted a true median price you would have to separate these condos in size and location.  For example if you took the median price of oceanfront condos sold in Brevard then you have totally skewed the median price onward and upward.  The median price for oceanfront has dropped but not nearly as severely.  There is a large condo complex in Merritt Island that was originally apartments and converted to condos.  The buyers paid premium prices for these units as it does have amenities and waterfront.  Since then the units have been resold and almost exclusively by HUD with the median price being around $23,000 now what do you think that did to the median condo price in Brevard.    You can still get a deal but don’t be deceived by blanket surveys.  

The best thing you can do is to tell your agent what you are looking for in a property.  The truly ethical agent will naturally show you what you are looking for at the very best price that can be attained.  Believe it or not there are agents who will put the commission on the back burner and serve their client.

Your satisfaction is our success and you will spread the news.

Jim Bagwell

"Sweet home Florida, where the skies are blue"

"Sweet home Florida, Lord I'm coming home to you"  Adaptation of Sweet home Alabama, Lynyrd Synyrd

Picture from Country Club rd Cocoa Beach

Nothing new in Cocoa Beach but if you are waiting for the home for fishing, boating and sights.  I have the ticket.  Just listed on the east side of Merritt Island with a straight shot to Port Canaveral and no bridges, this home features 4 bedrooms 2 baths 1814 sq. ft. and 190' of riverfront.  Home also has a 341 sq. ft. Florida room.  Enjoy the life.

There is a new concept on the table that I find interesting which is that there are 2 lots on the market on Milford Point .  This is a small street on the east side of Merritt Island.  The owners are advertising that they will sell the lot and build a home for $776,000.  The home would be built by Carswell Const., who is a very reputable builder.  The home on this lot would be a 2 story home with 3900 sq. ft. and a 4 car garage. 

This is the rest of the story.

Jim Bagwell 

"Then we can go fishing in my little red boat"

"Make you happy in my little red boat"  Every mother's son  

By now I think everyone has seen the 10 questions to ask a listing agent if you are considering selling your home.  There is one other step I think is very important.  If you are considering listing then call the real estate office on the weekend and see if anyone answers the phone or even calls you back.  A lot of showings occur on the weekends for obvious reasons.  It is imperative you don’t miss out on weekend showings.  They should also maximize the photos in MLS.

Cocoa Beach

In my opinion one of the best buys on Cocoa Beach canal front is a home on a canal which is an estate sale.  This home features 4 bedrooms 1 ½ baths with 1756 sq. ft.  Sits on a canal with riparian rights and priced at $259.000.  I am sure it needs work but this could be a nice home with built in equity.

For the buyer not faint of heart there is a home on the same street as the home above that needs a ton of work but it does have 1814 sq. ft. and listed at $230,000 on a canal.  If you have time this could be worth a look.

Merritt Island

There are too many good buys in Merritt Island to even list but if you send me an email I can give you the full list.

There is one on S. Tropical trail that is a 3 bedroom 2 bath home with a 1 car garage and 1660 sq. ft.  This home is a foreclosure and listed at $154,900.  The home is on a canal and could be an excellent investment.

The other home I personally like is on S. Tropical with1.68 acre.  This home features 5 bedrooms 4 ½ baths with 4399 sq. ft.  The home also features a 4 car garage with a RV space and an infinity pool and entertainment area.  Priced at $1,257,000 on the Banana River makes it desirable if you are looking for a primary residence.

Call and I will show you all homes!

Jim Bagwell

Broker

Walker Bagwell Properties

321-213-0615

Put me in coach

Another golf day in Florida.

Picture is from the 3rd fairway on the Cocoa Beach River course, even if you have a bad day you can enjoy the sights.

MERRITT ISLAND

I know in this market everyone is trying to save money and get the most bang for their buck.  With that said, there is a new listing on Merritt Island that the owners used a MLS entry company with no further services.  This home as said in the description features 2345 sq. ft. , gas heated pool, on the canal, gourmet kitchen, 4 baths with custom tile work, dock and much more.  With all those features there is only one picture.  Are they saving money when they are setting appointments, no pre-qualification and show their home themselves???  Home is priced at $299,000 or $127 a sq. ft.

On the other end of the spectrum there is a new listing that is listed by a Realtor that contains 9 pictures and this is a bank owned home.  The home is priced at $148,500 and is on a canal as well.

Cocoa Beach 

We have a new listing in the Country Club Estates that is a direct Banana River home that sits on .29 acre.  The home has 2208 sq. ft. , 4 bedrooms 3 baths and a mother-in-law suite with its' own entrance.  The home needs renovation but the value is in the land with loads of potential.  picture of view is attached below.

 

Thanks
Jim Bagwell
321-213-0615
  

"Sittin' in the morning sun"

"I'll be sittin' when the evening come"  Late great Otis Redding 

Beachside

This week is waterfront living on the beachside.  In 2011 there have been 6 single family homes sold in the Cocoa Beach/Cape Canaveral area.  These homes sold from $169,000 to $340,000, of these homes 4 were waterfront homes with navigable canal frontage.  We haven’t seen waterfront prices this low in a very long time.  The moral of the story is if you have ever dreamed of living in a home that you can keep the boat at back and walk to the beach then it could be time to buy. There are still 66 waterfront homes on the market priced from $224,900 all the way up to $1,499,900.  You can rest assured that a home over 1M is on the ocean since these homes are still rare. The other homes are either on the Banana River and the lower priced homes are usually on a canal. 

An interesting listing in Cocoa Beach is a bank foreclosure.  The home is on the end of a canal and listed at $399,900.  The home has been enlarged and now features 3489 sq. ft. under air and a 2 car garage.  This could be one to make an offer to the bank

Merritt Island

For those who are not familiar with our area, Merritt Island is one river over from the beachside about a 10 minute drive.  It is a very popular place for fisherman and boaters.  It is also one of the last places you can acquire some acreage with waterfront.

There have been 10 waterfront homes sold this year in Merritt Island.  These homes had sale prices between $140,000 and $415,000.  The one $415,000 home is on the Indian River and was built in 2002 with 2924 sq. ft. and almost 3 acres.

There are over 100 homes on the water listed at the present time.  These homes are priced from $97,000 all the way up $2,750,000.  Generally speaking the multi-million dollar homes are usually on the Indian River which is an inter-coastal waterway and most have over an acre of land.  The one priced at the top has 5 acres with nice river frontage and the home has been renovated.

One that caught my eye is on the east side of Merritt Island which means there are no bridges between the home and Port Canaveral with oceanfront fishing.  The home has 1828 sq. ft. with a list price of $269,000.  This makes for a very reasonably priced home for the serious fisherman or weekend dweller.

Thanks

Jim Bagwell