CHANGE with the New Year

Happy New Year! Well some of us wanted change with the last election and boy did we get it!

My first listing of the year was input and withdrawn in 2 weeks, they simply decided to stay put and wait for the market to return. My opinion is the market is as good as it is going to get on pricing for the next 5 years. The tax credit is helping the bottom of the market but foreclosures are still at a record rate. NORMAL real estate is not selling well with the exception of the luxury market which is slower but still has cash buyers thanks to all those Bank of America bankers getting their bonuses.

BANK is still a four letter word. I am not sure if they are just pissed that the National Association of Realtors beat them in the lobbying game to keep them out of our business . But paybacks are hell and short sales are the payback. I currently have 20 deals under contract 17 are shortsales and I currently have three deals actually being negotiated. Bank of America has 5 of my deals and insists on using their un-user friendly Equator system and making Realtors/clients/customers input the info that their Customer non service agents should be doing. I have hired a negotiator with a title company that handles the paperwork end of this. Their are plenty of buyers and sellers but the banks are killing the deals that they made the poor underwriting decisions on. The lending has loosened up somewhat but has a long way to go to 1 in three deals are being killed in underwriting.

THE BRIGHT SIDE... prices have never been better and the deals are being grabbed up quickly by cash buyers. Satellite Beach single family home pricing is ranging form the high 90's in the Sea park area to the latest 2 million dollar closing oceanfront north of the Publix. Good values 1/1 Sea Park condos in the high 50's , town homes in IHB and Indialantic in the 120-140 range. Great deals in the South Beaches and Floridana area 200 plus range. Rents are dropping although I expect SB to regain stronger rentals after the proposed closing of Hoover and a redraw of district lines for middle schools are looking to push south beaches kids to the mainland at Stone. Many of you know me from Delaura and Satellite. Very few of you know I went to Stone in the sixth grade. After two of my friends were assaulted in the library and the admin did nothing. My parents committed to building our home on Coconut st.. HEY BREVARD COUNTY SCHOOL BOARD bus the Stone kids out of the ghetto not the other way around MORONS! The weather is awesome and Satellite Beach is still a great place to live. Congratulations to DeLaura Middle as being the #2 middle school in the state.

Now is a great time to open a business or storefront as the commercial space is at an all time low, contractors and build out costs have dropped. Sea Island Construction , MH Williams, Militano Construction and Scott Thompson are some good local guys ready to help with your building needs. Dos Amigos recently opened Little Dos in Satellite Beach on the corner of Park ave and A1A. Their El Cheapo menu is the best bargain for lunch going! (This makes 4 restaurants beachside for these owners.) City Tropics has opened a sister restaurant Sand on the Beach located near ocean ave and A1A that has great drink specials, a lobster reuben and yes a facebook page try it you will like it on the Ocean. (This makes 4 unit s beachside for this owner also) Ichabods dockside is almost beachside and I recently tried it for dinner and such a great sunset makes it a casual relaxing place. Of course for Just Lovely their is the reliable phenomenal food at the Chart House being raised in the Disney Corporate fold of food an beverage I can say it was the best meal I have had in 10 years. Don't forget to pick up homemade Salsa from Mary's downtown Salsa in the downtown Melbourne Village. These businesses are still thriving please patronize them. (By the way the most of these businesses have no idea I just plugged them.) Just remember if you dream it you can do it.

Super Great Reason to Live Beachside.....The IHB pool I have been swimming laps in since my great friend induced me into swimming pool one morning at 530 a.m. yep they open their fab heated pool during the week that early and charge $3 per day or $140 per year if you are a NON resident. I love it and they are open 7 days a week so it is a cheap wonderful way to get into shape. Remember next month is Valentines Day, SHOW SOME LOVE!