The single family home market still is rather exciting these days to say the least. On the beach area our inventory is still shrinking with waterfront homes that are priced right are closing rather quickly.
In the last 2 weeks we have had 2 canal front homes close in Cocoa Beach. The 1st was priced at $214,000 as a foreclosure, closed in one month for $214,000. This home was small with 1356 sq. ft. but does have a pool and of course needs cosmetics.
The 2nd home had 1521 sq. ft. and was move in condition. This home was listed at $269,900 and sold for $254,000; this home was on the market for 2 months. As you can see this is why our inventory is shrinking.
A couple of new listings are worth taking a look at as in my opinion could be good buys.
The 1st is in the Snug Harbor section of Cocoa Beach. The home is a short sale and needs a lot of work but priced at $279,000. This home is on a canal with 1764 sq. ft. and sits on .36 of an acre so there is room to expand or put in a pool. The 2nd is in the river Isles section in Cocoa Beach. This home has 1772 sq. ft. on a canal priced at $324,900. The home has been upgraded so you could move right in and enjoy the life.
With lower prices and the mortgage rate being the lowest in history, this has proven to a good time for the serious seller and the buyer.
Jim Bagwell
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