April 17, 2018

Just Reduced $75,000 - 126 West Pippin in Islamorada, Florida


This is a diamond in the rough!

It's almost unheard of to have a home on such a large piece of property in the Upper Florida Keys.  This four bedroom home is sitting on a huge lot with just shy of a half an acre.  The neighborhood has an optional homeowners association that you can join that features a boat ramp, dockage and a private swimming pool.

Built in 1957, this home is concrete with truss roof.  Each level has a fireplace with shared/combined chimney.

The downstairs has terrazzo floors and wall unit air-conditioning, while the upstairs has tile floors, central air and heat an also has a large den that was once a screened porch.

Set just one lot away from the Bay, there is no noise from the highway, making this a peaceful retreat.

There is some work to be down to bring it back to it's former glory, but there really is huge potential here. Other homes in the neighborhood have sold for considerably more, but without the sizable lot or the size of the home itself.

Now priced at $575,000.  Motivated seller and easy to show, call today for an appointment.




April 13, 2018

First Quarter 2017 VS 2018: How did Hurricane Irma Affect The Real Estate Market?



As a real estate professional, I am asked the same question over and over: How's the real estate market? Most of the time, it is just a curiosity that the person asking the question has about real estate in general.

Post Hurricane Irma, the question has changed: How did Irma affect the real estate market. Most of the time, the person asking the question has a look of caution, appearing to anticipate a grim answer.

The answer may surprise you.  Here is how the first quarter of 2017 and the first quarter of 2018 compare, broken down by property type.

Single Family Homes, Non Waterfront:
2017: 46 sales, with an average sales price of $400,493
2018: 40 sales, with an average sales price of $427,510

Single Family Homes, Canalfront, Lakefront and Plugged Canal:
2017: 36 sales, with an average sales price of $909,694
2018: 41 sales, with an average sales price of $1,063,280

Single Family Homes, Open Water:
2017: 12 sales, with an average sales price of $2,189,583
2018: 14 sales, with an average sales price of $1,978,250

Condos, Townhomes and Condotels:
2017: 32 sales, with an average sales price of $358,806
2018: 41 sales, with an average sales price of $417,558


With the exception of open water homes, most segments of the market saw an increase in average sales price. Open Water homes dropped a little, but more of them sold in the first quarter of 2018 than 2017.

It is important to note that these figures are from the Upper Keys market, from Mile Marker 74 to Mile Marker 106.  This area stretches from north end of Key Largo to the south end of Islamorada.  I've limited it to this area because this is my primary marketplace. Without a doubt, the numbers will be considerably different than in areas harder hit by Irma, such as Cudjoe Key and Big Pine Key. Many areas in the Lower Keys are still in recovery and rebuilding mode.

The next hurricane season is just 49 days away. The season is predicted to be slightly above average, with 14 named storms, 7 hurricanes, with 3 hurricanes predicted to be intense.



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Tracy Larson, Realtor in the Florida Keys / 305-522-3812
Thank you for visiting Florida Keys Market Update for information about the Florida Keys real estate market. Licensed since 1993 and a Keys local since 1987, I want to be your Realtor here in our island paradise. Note: Information for listings featured on this blog is gathered from our local MLS; not all properties are my listings.
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