THE FIRST "CONDO FLIP" OF 2008?
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I
never really thought the word "condo flip" would come out of my mouth
this early in 2008. The "deals" are out there and even more buyers are
starting to purchase them. But "flipping" a condo a month later for a
profit in today's market?
This just happened to a popular condo
complex in Cape Canaveral. Solana Lake is a gated community situated on
22 acres of paradise with private beach access. This 2nd floor 2
bedroom 2 bath 1698 sq. ft. unit was reduced to $195,000 on 12/18/07.
Immediately there were many offers and closed for $195,100 on 1/31/08.
This
condo, with a wonderful lake and pool view, was listed for $259,900 on
2/4/08. Today it is under contract. I can not mention the actual
purchase price but both seller and buyer are happy. And who wouldn't
be? The seller made a quick profit in today's real estate market and
the buyer is getting a fabulous Solana Lake condo for a great price.
Currently there are 3 pending sales in Solana Lake and a unit on the 3rd floor was just reduced to $259,900. Click here for the listing.
So
like I mentioned, the deals are out there and I am seeing more buyers
starting to jump back in. Recent MLS statistics indicate a positive 17%
drop in MLS listed condos in Cape Canaveral and Cocoa Beach since May
of 2006. Less inventory means less to choose from.
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| COCOA BEACH FLORIDA HAS IT ALL |
 Come to Cocoa Beach, the quintessential beach town, and find it all! Sandy beaches, a historic pier, championship golf courses, plenty of dining and shopping await you year-round in sunny Cocoa Beach.
If you love the beach and are an official sun worshiper, Florida's Space Coast is the place for you! The endless Florida Space Coast beaches are tempting year-round with warm Southern waters and an average daytime temperature of 73° F
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| HOUSING STOCKS UP |
 Investors
who bought housing stocks at the beginning of the year after two and a
half years of steep declines are being rewarded for their prescience.
As
the Federal Reserve started cutting interest rates, the stocks of home
builders Toll Brothers, Lennar, and Hovnanian rose 40 percent, 52
percent, and 96 percent respectively.
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| FLORIDA REAL ESTATE MARKET REACHED BOTTOM IN 2007 |
 A
new report from the Attorneys' Title Insurance Fund Inc. (The Fund)
finds that Florida's housing market slowed in 2007 in nearly every
county analyzed.
The report also shows that real estate markets flattened
out in spring 2007, before the subprime mortgage crisis in August
knocked markets down another 10 percent across the state. Since then,
the state's housing market has flattened and is expected to begin to
recover during the next several years. (click here for story)
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McCoy-Freeman Group
RE/MAX ELITE
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Serving Florida's Space Coast
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Customers deserve Real Estate Agents who will get the job done quickly and efficiently.
That's
what we're good at, going the extra mile and providing excellent
personal customer service combined with impeccable market knowledge.
Jennifer McCoy
(321) 720-6654
Bobby Freeman
(321) 693-1694
Nikki McCoy Freeman
(321) 537-2291
Contact us
RE/MAX ELITE
142 N. Orlando Ave., Suite 300
Cocoa Beach, FL 32931 (map)
38 Suntree Place, Melbourne, FL 32940 (map) |
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