New foreclosure just came on the market - Canal Front home in Islamorada for 425K Under Contract!

This just came on the market:

Click here for more info on this property.

Best deals in every category

These are the best deals if you are looking for a condo that allows weekly rentals:
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These are the best deals in condos under 500k:
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Best deals in condos from 500 to 800K:
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Best canal front home deals:
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Best open water front deals:
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These deals are already gone

This is an update to let you know that good deals go quickly. Goes to show that everything will sell for the right price even in a challenging Real Estate market.
I told you about these deals in my blog in the past two weeks and they are already under contract: Click here to see the two listings

If you are checking this blog to see the daily activity you will not always see eveything that went under contract in the past few days because many agents wait to change the status to pending in their listing until all contingencies have been removed and the sale is certain to go through.
I had a customer yesterday who wanted to make an offer on one of these properties but both of them are already under contract:
Click here to see them

There was already another offer on this property but it was too low and the bank did not take it; nevertheless there was an offer for over 700K on this property:

Tomorrow I will tell you about deals are still available.
Thanks for reading my blog!

New listing in White Marlin Beach on Lower Matecumbe

Check out this beautiful new listing in White Marlin Beach: MM74,5 on the basyide:
This beautiful house is located in White Marlin Beach on a deep water canal! The home has been entirely redone in the last few years: New roof in 2005, all new vinyl siding and rails in 2007, new AC in 2004. Gourmet kitchen - perfect for entertaining! White Marlin Beach has a home owners park which features a white sandy beach. This is the ultimate Keys Vacation Home! Even some open bay views!

Please click here for more info.

I am back with Century21

Hi there everybody!
So this is the big news in my life today: I am back with Century21 Prestige Realty.
I was with Century21 for over ten years and decided to leave when Cheeca Lodge (a very high end resort in Islamorada) opened a full service Real Estate company and asked me to come aboard. I do not think that it was a wrong move to go to Cheeca Realty, I had a great dedicated broker and a beautiful office, but it was tough to start a new Real Estate company in the challenging Real Estate market we have been in over the past couple of years. I hung in there for as long as I could and as Cheeca Lodge is going through changes I felt that I needed to return to my old company Century 21 in order to serve my customers in the best way possible. I did not leave Century21 because I was unhappy with the company; I left for a new challenging opportunity. I did not fail and neither did my broker: the Real Estate market failed us as it did just about every new smaller Real Estate company.
I am returning to Century21 because it is a company with staying power in this depressed market and it provides me with the best tools and presence lead by a broker of the highest integrity who happily welcomed me back into my ‘home’ in the Real Estate in the Keys without once saying “I told you so!”
Century 21 Prestige Realty has been around for a very long time in the Keys and I gladly return to a company with a broker to whom I credit a great part of my success in the Real Estate business.
I look forward to continue my Real Estate career in the Islamorada office with Century21 Prestige Realty!

What to buy in Islamorada for 450K

This is a fantasti deal on Upper Matecumbe Keys (The heart of Islamorada). Everything is in walking distance; there is a beach and AND dockage. The price has just been reduced to 450K! Take a look; this might just be THE one for you. Find more info about the property here:

Lowest priced Buttonwood Bay unit 649K - new on the market!

Lowest priced unit in Buttonwood Bay! Come enjoy the boaters paradise! Each unit has an assigned boat slip; there is on site bait and tackle shop and gas pumps, Trailer storage, 3 pools, five tennis courts, beach area, clubhouse, fitness Center .... Buttonwood Bay has it all!

See more info about the listing here

New foreclosure on the market! Canal front CBS home 425K!

Ok, the one for 499K is back under contract but here is a new one on the market that is a great deal! 2 bedrooms, 1 bath on the ocean side. Quick ocean access - perfect for the Sports fisherman! These go quickly! Please e-mail Wiebkewestedt@aol.com or call me at 305-393-0923 with questions. Thanks for reading my blog.

This just came back on the market Canal front 499K. This is already back under contract.

It's at MM99 on the Ocean side on a very protected canal with a straight shot to the Ocean! Great deal! When this came on the market last time, it was gone within 3 days.
Please call me if you have any questions: 305-393-0923

Foreclosure - Even better yet! 425K

For this one you don't have to wait! This is already bank owned. A 3 bedroom, 2 baths unit on the top floor in the building closest to the water. This is -without question- THE best location in Tamarind Bay!
This is a link to info and more pictures:
Click here
Please call me for more info or a showing: 305-393-0923

Fantastic deal! Short Sale in Tamarind Bay 350K

This is the view from the unit! This is the closest building on the north side of the property. Tamarind Bay features: 2 Pools, Dockage, 2 Tennis Court, Trailer storage, common BBQ area, extremely well kept grounds, very close to Adams Cut = Quick Ocean access!
Find more info here

This is a short sale and it in the very beginning of the Short Sale.If you are in a rush; this one is not for you, but if you have time and want a deal; here it is!
Please call me for more info: 305-393-0923

Deal just fell through!

Don't let this one pass you by!
This is a CBS house with open ocean views on a protected lagoon. Perfect for the avid boater! A straight shot out to the Ocean! This is a short sale that has been approved and is ready to close! If you are intersted in this house please e-mail me Wiebkewestedt@aol.com or call me at 305-393-0923 and I will send you more pictures and info.
Locations like this are very few in the Keys. Protected dockage on the Ocean is priceless!

Something to smile :

Price reductions!

If you have been checking daily what new properties have come on the market you will have noticed that it's not a lot. Over the past week there has not been a day on which more than 4 new listings have come on the market! That's good! Our inventory is no longer increasing but decreasing!
Here is where you see the activity: Price reductions! That is where you find some great deals now! Sellers know that there is activity out there and you sure can tell which sellers mean business and which ones are out there 'fishing'.
I am going to post all price redcutions from now as well. Please let call or e-mail me with questions anytime!

Short Sale - Long wait!

Short Sales can be a good deal! No question about it! Beside wanting a great property that is what every buyer wants: a great deal! Therefor it is no surprise that many buyers go for a property that is a short sale. In case you do not know what a 'short sale' is: A short sale is a sale in which the lender has agreed to take less than what is owed on a property and the borrower can prove that the market value now is less than what is owed and that the borrower will (or already has) probably default on his mortgage payments if the property is not sold shortly.
There are two different scenarios: 1. The Bank agress on a price that they will take. 2. The lender agrees to possibly do a short sale and lists the property for a very marketable price that will attract buyers. It has to state in the Listing agreement that this is a short sale and is contingent on the Lenders approval if an offer is accepted.
So, you don't care of it takes some time ... you have time. So what if it takes a couple of months. But here is the problem: most of the time it takes much longer than a couple of months. I have had a short sale under contract now for 7!!! months!
I am lucky and have some very patient buyers but a lot of time buyers get fed up after three, four months; especially when there is no light at the end of the tunnel.

The process is even more frustrating for the seller, as the seller might have a good offer that the lender would probably take if somebody at the bank would simply look at the offer, do some research and get the ball rolling and stay on it until closing. You would not believe how many short sales are under contract! It is not seldom that the bank is finally ready to accept a deal ... but the buyer has grown impatient and gone on to another property. It is also not uncommon that a property is being offered as a short sale, a good offer -or even several good offers- are on the table, time passes and since the departments at the bank seem to do a rotten job of communicating amongst each other, the property goes into foreclosure simply because the time frame is up and after non payment of mortgage payments for so long, the property will be foreclosed on while there is a buyer ready to purchase the property.
It is very frustrating and you should be aware of that if you are looking at short sales.
I am not saying that you should not look at Short Sales or not make an offer but if you do: It is a process that takes a long time.

My apologies!

to everybody who has attempted to vote for me on the Bloggers Choice Award Page!
I have received many e-mails from people who told me that they signed up on the Bloggers Choice award site and never received their log on info. Thank you so much for trying and I apologize to have added an icon to this blog that leads to sheer frustration by trying to help me out and vote. I will remove the icon (is that what you call it?) in a couple of days. Thank you all for trying!

Changes in my blog!

If you have read my blog before, you have noticed the changes I have made and I hope that you like them. I would appreciate any comments greatly!
If you are following the Real Estate market closely you might like the feature on the right hand side that says "New Listings". I will post all new listings in the upper Keys over the past 24 hours daily. I am working on improving my blog and making it a useful tool to all buyers and sellers; please keep watching over the next few weeks what new features I am adding. If you have any suggestions please let me know.
If you want to search for Real Estate in general in the Keys, you can do that on my website: www.Veepka.com.
I have a favor to ask of you: If you are a reader of my blog and enjoy it, I would greatly appreciate it if you would vote for it as the best business blog; You can click on the bloggers choice award and it will take you to the site where you can vote for my blog. It is a bit (Really just a bit) of a pain in the butt because you will need to create an account in order to be permitted to vote (To avoid multiple votes by one user)but it is a very short process and I would be very grateful if you give me a couple minutes of your time to do so. I am hoping for exposure by getting votes resulting essentially in more business.
I thank you very much for reading my blog!

Current Bestseller!

The lowest priced canal front homes! If you are in the market for a canal front home, I advise you to start looking now and buying something a.s.a.p because canal front homes under 700K don't come on the market much and if they do, they fly off the shelf. (Especially under 600K!)
Take a look at these houses that are under contract and how many days they were on the market. When you look at the days on market, keep in mind that 'the days on market' keep counting while the house is under contract.
These are ALL canal front homes currently on the market from MM74 to MM110 (Islamorada to Key Largo) under 600K:
and here are homes that are listed from 600 to 700K (same criteria as above!)

Supply and Demand is what determines a buyers or a sellers market. No Doubt, It's a buyers market right now, but the inventory of low priced canal front homes continues to decrease and before you know; they will all be gone! (I am only referring to the Upper Keys with this comment!).

And here the update for my faithful readers:
These are all new listings that have come on the market since my last post.
All properties that have gone under contract since then.

and all properties that sold.

Thanks for reading my Blog!

Back to business after this Hurricane Nonsense

We had a pleasant cozy day in the upper Keys yesterday. Regular TV programming was off because all local channels had to exaggerate updates on DEADLY storm Fay. Keys residence find it rather amusing and when you watch interviews of locals with 20+ year old reporters in raincoats you can see how ridiculous the locals find the questions, yet they are appearing to look serious when being asked "IF and when they will evacuate" and they respond that they won't. These might be their 'cut short' 15 minutes of fame so they'll make what they can out of it.
Sorry, I am just not a big fan on the sensationalism of the small local news stations with no focus on real news.
So, here you have it: All is well in the upper Keys! Now you don't have to watch any more updates!

This post is just for updates. These are the updates since my last post:
These are all new listings since 7/29/2008:

All properties that have gone under contract:

and all properties that sold

Thanks for reading my blog and please contact me with any questions: 305-393-0923

Some foreclosures that ARE good deals!

There are not many of them in the Keys; but a few and some are indeed very good deals! Such good deals that they go under contract within a week after they have been listed ,sometimes for more than the asking price! Investors know that this is a good time to buy IF you are getting the property for the right price. They familiarize themselves with the Real Estate market and are aware of what is a bargain price for a property.I know that every buyer likes to negotiate but be careful when you find a great deal because you are not the only buyer out there! You might hate the idea of paying full price for something but it does not take a rocket scientist to figure this out: You have two equal houses, same street,same house, same view. One is listed for 1 Million; the other is a foreclosure and listed for 599K.
A buyer negotiates the house for 1 Million down to 800K. Which house is the better deal? The one at full price for 599K or the one that you got for 200 less than asking price for 800K? Certainly I don't have to tell you the answer.
Keep this in mind if you are in the market and ready to buy a good deal: If the asking price is a steal; make a full price offer because you are not the only one who will make an offer. Getting a great deal with a foreclosure is more of a matter of having a good Realtor who stays on top off the market and will call you as soon as a steal has come on the market.
These are current foreclosures on the market:
Please call me if you'd like to see any of them