May 05, 2020

A Look at the First Quarter of 2019 vs 2020

You can't turn on a television or read any news without hearing the latest on the fight against Covid-19. The Keys have been quite successful in keeping our number of infections down, thanks in part to a roadblock barring non-residents and non-property owners from entering the county. But what impact has it had on the local real estate market?

At first glance, it appears that the real estate market remained fairly unscathed, with closings for each quarter being relatively the same in the first quarters of 2019 and 2020.

However, when comparing at the number of closings that occurred in the first quarter of 2019 to the first quarter of 2020, it's important to consider when the properties actually went under contract, instead of the actual closing date.  Many of the properties that are closing now were under contract before the Coronavirus lockdown of the Florida Keys, and much of the rest of the country as well.

I compared the number of contracts being written and fully executed during the first quarter of each period for properties that did close. Normally I do these stats based on closings alone, but considering the unique circumstances of working under a global pandemic, I opted to use dates when properties actually went under contract.

Keyswide Numbers 2019:

Waterfront Single Family Homes: 190
Non-Waterfront Single Family Homes: 184
Condominiums: 59

Keyswide Numbers 2020:

Waterfront Single Family Homes: 158
Non-Waterfront Single Family Homes: 153
Condominiums: 40

These numbers show that while there are still buyers out there looking at property, fewer of them are actually writing offers and going to contract and closing. Hopefully the market will correct itself, as it usually does, in the second and third quarters of the year.

March 04, 2020

Need a Little Room to Spread Out? These Homes are on More Than One Lot!

Land is scarce on an island, especially such a narrow chain of islands such as the Florida Keys.

Here is a list of homes in the Upper Keys that offer a little more room to spread out with more than one lot, giving you space for boats, pools, etc.

And they range in price from the low $400's up to the millions, so there is something in just about every price budget.

See anything that catches your eye, call me and let's go take a look at it!

Click here to view the listings.

February 27, 2020

Open Water Homes in the Florida Keys - starting lower than you may think!

The ultimate Florida Keys home is one that has easy access to the open water, with tranquil views from the living areas inside.

At just under 300 open water single family homes to choose from, there should be something for just about everyone's budget.

The lowest priced home is listed at $390,000 - but it did suffer considerable damage from Hurricane Irma.  It is also located on Cook's Island - a unique off-shore community unite any other in the Keys.

My personal favorite is 95 Seaview Ave (pictured, top). This house just isn't overlooking the water - it's actually over the water itself. It has a very unique and historic feel to it (built in 1958), but is updated to modern standards. And it is listed at just $699,000.

But if money is no object, be sure to take a look 94100 Overseas Highway,  the most expensive property (pictured, bottom)  on the list - topping out at $24,500,000. Set on over 12.5 private acres, this incredible home features two stretches of private beach, 3 separate structures and several lush nature trails. Upon entering the expansive main house through the porte cochere one begins to feel the essence of the property as you cross a bridge overlooking waterfalls, koi ponds and lush greenery. With exceptional direct unobstructed views of the bay and open airy spaces this house was made for entertaining.

February 25, 2020

Care for a Dip in the Pool? Private Homes With Pools Under $600,000

29827 Tropical Trader Rd - Offered at $449,000
South Florida and pool homes practically go hand in hand, and the Florida Keys are certainly no exception. We are home to many lovely pool homes, and I've put together a list of all of the single family homes from Key Largo to Key West that have private pools.

So, which pool is going to be your tropical oasis in the Keys??

Click here to view the listings

February 24, 2020

Florida Keys Properties from $250,000 to $500,000

It's a common misconception that you have to spend a million dollars or more to buy a home in the Florida Keys.

While a lower price range may not get you that perfect ocean view from a private mansion, it can get you some nice views from condos, and canal front homes.

With over 400 residential properties from Key Largo to Key West, perhaps there is something that will catch your eye!

Click here to view the properties.

February 18, 2020

Bank Owned Property in the Keys

Even though the foreclosure crisis never really got as intense here in the Keys as it did nationwide, we still have a handful of properties that are bank owned here in the Keys.

Here are all of the properties in the MLS that have been foreclosed on. While there aren't many to choose from, its important to note that the listing prices of REO properties are quite competitive with traditional market properties.

Click here to see the properties from Key Largo to Key West. 

February 17, 2020

Just reduced to $445,900 - Great 4 bedroom home on one and a half corner lot!

120 South Bay Harbor Drive has just been reduced to $445,900.

This 4 bedroom, 3 bath home is located on one and a half corner lot in desirable Bay Harbor.  With plenty of room for a pool, this home offers a lot of possibilities.

Downstairs has 2 bedrooms and 2 bathrooms, but could also be utilized as a media or game room room or even a home office. It can also be used for extra guests, or as much needed air conditioned storage.

Upstairs, two large bedrooms share a Jack and Jill bath, and a bonus room can be used to either expand the living room, or expand one of the bedrooms, or even used for something else altogether.

Cathedral ceilings throughout give the home space and volume and the exposed wood beam ceilings give it a  natural warmth.

Easy to see, call today to make an appointment.

Click here for more information and additional photos.

February 11, 2020

In the age of on-line home shopping, do you still need a Realtor?

The Miami Herald recently published a very good article about the future of real estate and specifically, real estate professionals.  After all, how many travel agents do you know now that passengers can shop for and buy the best flights at the best prices.

But what about your Realtor?

As the article state "Fundamentally, the role of the real estate agent in 2020 has not changed due to the internet. If anything, the Realtor’s role becomes more important as there is an abundance of information to review and validate. Experience, knowledge, and integrity makes a great professional. Listening, understanding, patience and interpretation of both customer and offering are still human services that a computer cannot provide."

I have to agree, and not just because I'm a Realtor.  It has been all too often when I hear a buyer tell me they did a Google search and determined that the house was either in a certain zoning or in a certain flood zone, only to be found out later that the information was false. 

Your trained local Realtor will know about the zoning or flood zone. They may also be able to tell you about the history of the house, such as how many times it has sold and for what prices. 

They can also help you determine a realistic price for the house. Many time the famous "Zestimate" for a home on Zillow is overinflated, which delights sellers, but daunts buyers. The truth is, most of the estimates you see on Zillow are simply inaccurate. They don't take into consideration the condition of the home or the surrounding homes in the neighborhood. 

When buying or selling real estate, be sure to enlist the help of a reliable Realtor to help you with your next sale or purchase. 

Read more here:

February 10, 2020

Residential Property for under $250,000 - From Key West to Key Largo

It's no secret that the Florida Keys are known for some very expensive real estate.  Often people think you have to spend a small fortune to find a place to live in these islands.  That's not always the case.

While there aren't a lot, there are still properties on the market for under $250,000 throughout the Keys. Many are condos, or small homes, and some of them actually have water views.

Maybe a second home in the Keys isn't out of reach after all?

Click here to view the properties

February 07, 2020

When only the best will do . . .

It's no secret that the Florida Keys are home to some of the most spectacular waterfront properties in all of South Florida.

Here are the top ten most expensive homes currently on the market in the Upper Keys. Not surprisingly, these homes boast impressive open water views and and represent truly luxurious island living.

Go on . . , dream a little!

The link will take you to the properties, where you can read more about them and see additional photos of the homes.

Click here to see the properties

PS: If you see something you like and would consider purchasing, please give me a call!

Photos are courtesy of the Florida Keys Multiple Listing Service.

February 05, 2020

January 2020 Sales compared to January 2019 Sales

Click to enlarge
When comparing January 2019 to January 2020, it shows that the real estate market in the Upper Keys remains stable. There were both gains and losses in average sales price across the various categories.

More residential properties were sold in 2020 than in 2019, and the average sales prices remained consistent.  The area with the biggest change is condos, townhomes and condo-tels - with more units sold in 2020, and a noticeable drop in sales price from 2019 to 2020 for units have water views.

Click on the graphic to the side to see more details.

February 04, 2020

Just listed - 4 bedroom 3 bath home in Bay Harbor, Key Largo

120 South Bay Harbor Drive

Homeowners Park, just down the street
 This island home features two large bedrooms and shared bath on the main living level, and two bedrooms and two baths in the downstairs enclosure. Located on one and a half lots in a great neighborhood - Bay Harbor - this home has access to a private homeowners park with boat ramp, dockage and sandy beach, just down the street, making it a perfect weekend retreat or full-time residence. All cedar plank siding, freshly painted, metal roof, and fenced yard with access from 2 streets. 

Located halfway between Key Largo and Islamorada, this home is centrally located close to schools, shopping and everything the Upper  Keys has to offer.

Offered unfurnished at $465,000, with a motivated seller.

Click here for more information and additional photos.

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