Monday, November 26, 2007

How was the turkey?

Hello everybody,
I hope you all had a great Thanksgiving with family and friends! I brined the turkey for the first time this year and I think it was worth the effort.
Now it's back to work for all of us; so here I am writing my blog:
How about a condo for Christmas? Avoid the crowds and give me a call! :)

These are all new listings since my last post:

all listings that have gone under contract:

and all properties that sold:

Please let me know if you or anybody you know is looking for Real Estate or if you have any questions!

Tuesday, November 13, 2007

The bottom of the market

"I am waiting for the market to hit bottom!" That's what I hear lately from a lot of my buyers. When is the bottom of the market here? Nobody will know until AFTER the turn. Bottom will be there for a short moment; after all it's a full circle and once it hits bottom it will be on the upswing. Is the bottom here now? I don't know myself to be honest and neither does anybody else. I do know this: The Keys are a unique market with a very limited supply of Real Estate and actual sales prices have not made the same drop as Real Estate in most other areas. There are not a lot of distress sellers in the Keys. Period!What has dropped are the asking prices! Asking prices are no longer 'any number in the sky' but a number based on previous sales and not on inflated prices on houses on the market that are not selling. I have buyers calling me telling me how amazed they are by how much prices have dropped because a house that was for sale for 2,5 Million a year ago, is now on the market for 1,7 Million. That is not a price drop; that is a seller who woke up; realizing that his property never was worth 2,5 Million even at the height of the market!Yes, it is true that actual sales prices have dropped somewhat but not drastically. What is definitely true is that properties have not appreciated over the past couple of years in the Keys. We were used to prices going up between 10-30% annually.No matter where you look mediawise: Real Estate is not doing too well! It is a buyers market (More sellers than buyers make a buyers market) . Buyers feel that they should be able to get one heck of a deal now and that is true in most markets in the US. Not so much here: I have written many very low offers in the past year only to find out again and again that sellers are not willing to sell their property for much less than the last likewise property has sold for.I met a good friend of mine yesterday evening, an appraiser in the Keys for the past 22 years, and I asked him if he thought that we are at the bottom of the market and he immediately answered "Yes, I think so". Maybe he is not right; we won't know until the turn has been made.My point is that this is indeed a great time to buy and sooner or later the bottom was/is here and will be... gone ....The market was somewhat similar to what it is now when I started working in the Keys and I saw just how quickly the market can change once it is on the upswing. I cannot tell you how many times I heard "I should have bought a couple of years ago" .... don't let that be you in a couple of years!

These are the new listings that have come on the market since my last blog:Click'>Click'>">Click

These properties have gone under contract:

and these listings were sold:

I hope you all are well and thanks for reading my blog!

Friday, November 09, 2007

Perfect weather in the Keys!

This is what I call 'good mood weather'. The sun is shining; it is not too hot and not cold at all! It's snowing in Buffalo! I'll be going on a bike ride in a bit!

I walked the site of Fishermans Cove the other day and I was more than impressed! The units are beautiful with high ceilings and breathtaking views! The Pool area with the Cabanas mirrors a Luxury resort; If you are down here; give me a call and I will walk the property with you and show you the units!
I sincerely think that this a great concept to own a vacation property with unlimited use. (Call me for detail!)

Now, if you are looking for a house; there are some deals right now! Please call or e-mail me and I will e-mail you some good deals!

These are the new listings since my last blog:

These listings have gone under contract:

and these properties were sold:
If you are not down here; hurry and come on down! Good mood awaits you!