"Good judgement comes from experience"

"and a lot of that comes from bad judgement"  Will Rogers

The picture is of a short sale on Merritt Island that just closed.
This home is in a prime location for views,fisherman and boaters.  No bridges all the way to the locks. 

Another short sale in Cocoa Beach that is in prime location is on the market for $899,000.  This home is in south Cocoa Beach on the Banana River with 3549 sq. ft. and 4 bedrooms 3 1/2 baths and a pool.  Unfortunately there is only one picture but the home was built in 1996.

If you are looking at oceanfront condos there is a listing in The Michelina listed at $430,000.  This unit was built in 2006 and features 2008 sq. ft. with 3 bedrooms and 3 baths.

Call and I will send you a list.

Jim Bagwell  

Foreclosure as a possible purchase?

If you are considering purchasing a foreclosed property, there are several things to explore.  One of the most important things is even though most banks will require the contract to be as-is you would be very wise to have a complete home inspection and see what the property will cost with repairs included to the price.

Foreclosures can be a very good buy in all price ranges for the investor or for the primary residential property.  You should look at all costs in order to keep the property as a value purchase.  One of the secrets that they don’t tell you is the fact that most banks require escrow to be held by a specific title company.  The seller does have the right to pick the title company for closing but the buyer has the right to buy their own title insurance and most times this will save you up to $1000 in garbage fees.  A lot of banks own their title companies and a lot have contracts in place with title companies so as always their motivation is profit.

Some foreclosures of interest follow:

The picture above is this property that is waterfront, the Banana River is across S. Tropical but the home comes with the riverfront property.  The home is a 3 bedroom 3 bath with 2889 sq. ft.  The property is 1.33 acres with a 2 car garage and pool.  Of course the home needs work but could be a very good buy for either investor or home buyer.  This home is priced at $247,500!

For the investor there are 2 other homes in Merritt Island that could be income producing properties as rentals.

The 1^st is a 3 bedroom 2 bath home with 1144 sq. ft. and priced at $39,900.

The 2^nd is a 3 bedroom 2 bath home with 1350 sq. ft. and a 2 car carport priced at $77,500.

Call today and I will build you a search that lets you know of foreclosures that hit the market; most times you have to act quickly for the good buys.

Jim Bagwell

321-213-0615

"If you find yourself in a hole"

"Stop digging"  Will Rogers

Inside Planet Hollywood Vegas.

Several short sale closings interested me this past week.

Canal home in the Cocoa Beach Country Club has been on the market since 2008 with a list price of $699,000 just closed for $375,000.  Nothing more frustrating for a agent is to lose the listing only to see a reduced price with someone else.

A home in north Merritt Island recently closed for $325,000 with a list price of $325,000.  This home features 3300 sq ft, pool and sits on 1 1/2 acre.  On the market for a year with an original price of $529,900.

A home in Island Crossings in Merritt Island recently closed for $125,500 with a list price of $124,500.  This home was puchased in 2005 for $280,000 or a 55% depreciation.

Two new listings to watch

A home on the Indian River that was built in 1925 and totally renovated is on the market for $750,000.  This home has been on the market since 2005 with an original price of $1,600,000.  Home features 4000 sq ft on a 1/2 acre, large dock with deep water.

A home on Tortoise Island with 4604 sq ft, pool and .39 acre on the Banana River is on the market for $1,190,000.  This home was purchased in 2006 for $1,050,000.  Tortoise Island is a great area to live.

Thanks and stay tuned

Jim & Ada Bagwell