"Grab that cash with both hands"

"And make a stash"  Pink Floyd

Osprey on her nest at the Cocoa Beach Country Club river course.

If you are thinking of a short sale just give one of our short sale specialists a call and we can talk you through the process.
JOANNE 321-749-3190
ADA 321-432-4741
JIM 321-213-0615
We can explain what you have to do first and last to help you save your stash.

If you are considering buying a short sale we can help with that as well.  Number one rule "Be Patient" it is a virtue or so my mother used to tell me.  Some of my favorites in the beach area are as follows.

Cape Shores is a popular complex in Cape Canaveral with a boat dock and nice facilities.  A 2 bedroom 2 bath unit with a peek of the river is listed at $95,000.

Banyon Cove is one street west of A1A leading to the river, a unit is listed at $117,777 with 3 bedrooms 2 baths, in my opinion this unit is still overpriced for a short sale, if I represented the buyer I would go in at $90,000 and hope for the best.

57 Cedar Ave is a townhome in Cocoa Beach, very near to downtown.  The home features 3 bedrooms 2 baths with 1834 sq. ft. and a 2 car garage.  This could be a very sweet unit and the parking for the art show is an added bonus.  Priced at $149,000 with bank approved price of $140,000.

You should call one of us today!

Jim Bagwell   

"If you drive a car"

"I will tax the street" The Beatles

Picture from back of Harbor Isles short sale

If you are considering a short sale please do your homework.  At Walker Bagwell Properties we do have a short sale transaction team and we are pretty good at our jobs.  We however do not give legal or tax advice.  It is illegal to give legal advice if you are not an attorney. 

With the debt forgiveness act if the property is your primary residence then you should be protected.  If you are selling an investment property then the lender can react in several different ways.  They may forgive the debt and not issue a deficiency judgment, they may want to file a deficiency judgment, they may ask for a promissory note or cash at closing.  We always get a letter from the lender prior to closing that will tell us what they will ask for if anything at all.  We can then negotiate with the lender on the sellers behalf.  Keep in mind that you will get a 1099 for the amount of debt forgiven, our advice on that is to talk to your tax advisor and see what you can write off of this for your loss incurred.  The 1099 amount may end up as inconsequential to you as far as taxes.

We have a very good record of getting owners of a bad situation.  It is just the Real Estate market that bit everyone and very few people saw it coming but there is a way out of this situation that benefits all.

There are several short sales active on the beachside that interests me.

A unit in the Meridian on Cocoa Beach, built in 2007 with 2072 sq. ft. with 3 bedrooms 2 baths, 2 car garage and the best pool and clubhouse on the beach.  Listed at $500,000, this unit was purchased new for $689,900.    

We have a unit listed in Harbor Isles on the Banana River is a unit on the 1^st floor that has been completely renovated and is listed at $189,000.  The complex is great including 3 pools 2 of which are heated, tennis courts, exercise room and a clubhouse.  Walk to the beach!

Thanks

Jim Bagwell

Short sales made easy!

Well not really easy but getting easier.  The banks are starting to get more cooperative and most now have made negotiations available on web sites.  The short sale and even the foreclosure process doesn't carry the same stigma that it once did because there are so many of us that are upside down in our properties.  At the present time there are 45 short sales' active in Cocoa Beach/Cape Canaveral and at least that many under contract.

The picture is the backyard of a property on the ocean that is a short sale.  2177 sq ft on .38 acre on the ocean.  This property has a 3 car garage with a nice apartment on top that gives the buyer the opportunity to live here while they get the main house as they want it for living.  Priced at $725,000!

Another of my picks would be a canal front home in Cocoa Beach, home has 4 bedrooms 2 baths and 1878 sq ft.  This home has been renovated and is priced at $299,900, excellent home for the boater or fisherman.

We will keep you informed and if you have time to wait for closing then short sales may be the ticket.

thanks
Jim Bagwell