Thursday, June 9, 2011
UPPER FLORIDA KEYS REAL ESTATE STATISTICS 1ST Q 2011 compared to 1ST Q 2010
Even though the economy is sputtering along the Florida Keys real estate market is heating up.
Number of home sales 160 + 55%
Sales price to final list price 90.05%
Pending transactions 239 +35% ( all time high since 2nd Q 2004 )
Number of properties for sale 6% less
The market continues to improve with more sales, less inventory and very low mortgage interest rates.
If your seriously thinking of purchasing your Dream Home in the Florida Keys this is a great time to begin your search or take it to the next level.
As always, I am here to assist you, please send me an email or give me a call.
Rob Skeel
www.robskeel.com
YOUR FLORIDA KEYS REAL ESTATE CONNECTION
Wednesday, March 23, 2011
Buyers ready to snatch bargains this spring---Vacation home sales surge higher
The following articles may be of interest to any home buyer who is waiting and watching for a good time to buy that dream home in the Florida Keys
Buyers ready to snatch bargains this spring
WASHINGTON – March 23, 2011 – Bargain prices on housing combined with low interest rates below 5 percent may bring the real estate market its busiest spring season in years, economists say.
Distressed sales continue to put downward pressure on home prices, which may lure more buyers off the fence and ready to snag a deal during the typical prime-time buying season.
Some builders are ramping up discounts on new homes as well as boosting commissions to brokers to try to spark more transactions.
Sellers of existing-homes also are getting more competitive in pricing their homes.
“After three years of the housing downturn, people are becoming much more realistic in terms of valuing their homes,” says Lawrence Yun, chief economist at the National Association of Realtors®.
An improved job market with better income potential may also motivate more people to buy, says David Berson of the PMI Group. “Household formations are also very important,” Berson says. “Kids may have moved back in with their parents, or two people may have moved in together because of job concerns. Now they can move into their own place.”
While interest rates are sitting comfortably below 5 percent for now (30-year fixed rates averaged 4.76 percent last week), economists warn the attractive low rates won’t last long.
“Few think mortgage rates are going lower,” says Mark Zandi, Moody’s Analytics chief economist. “It’s more likely they will be 6 percent than 4 percent next spring. This lights a fire under buyers.”
Source: “Discounts expected in spring housing market,” The Wall Street Journal (March
Vacation home sales surge higher
MIAMI – March 23, 2011 – Vacation home and condominium sales in Florida, Hawaii and other states hit hard by the housing downturn have posted dramatic gains.
In Miami, existing condo sales surged 58 percent during the year-over-year period ended in February; and statewide, condo and single-family home sales climbed 29 percent and 13 percent, respectively, due to low property prices and mortgage rates.
About 50 percent of these sales were cash purchases, and about 70 percent involved foreclosures or short sales.
“We’re even seeing instances in certain neighborhoods with multiple offers above asking price,” says Miami Realtors Chairman Jack Levine.
This means home prices continue to decline, with the median in Miami down 23 percent for single-family homes and 25 percent for condos from February 2010. However, prices are beginning to pick up on the Miami waterfront, where distressed sales accounted for only a fraction of transactions
Rob Skeel , Realtor- e-Pro - Cell --305-393-6300 Email--rob@robskeel.com
Century 21 Keysearch Realty--877-660-4637
Web Site-- www.RobSkeel.com
Buyers ready to snatch bargains this spring
WASHINGTON – March 23, 2011 – Bargain prices on housing combined with low interest rates below 5 percent may bring the real estate market its busiest spring season in years, economists say.
Distressed sales continue to put downward pressure on home prices, which may lure more buyers off the fence and ready to snag a deal during the typical prime-time buying season.
Some builders are ramping up discounts on new homes as well as boosting commissions to brokers to try to spark more transactions.
Sellers of existing-homes also are getting more competitive in pricing their homes.
“After three years of the housing downturn, people are becoming much more realistic in terms of valuing their homes,” says Lawrence Yun, chief economist at the National Association of Realtors®.
An improved job market with better income potential may also motivate more people to buy, says David Berson of the PMI Group. “Household formations are also very important,” Berson says. “Kids may have moved back in with their parents, or two people may have moved in together because of job concerns. Now they can move into their own place.”
While interest rates are sitting comfortably below 5 percent for now (30-year fixed rates averaged 4.76 percent last week), economists warn the attractive low rates won’t last long.
“Few think mortgage rates are going lower,” says Mark Zandi, Moody’s Analytics chief economist. “It’s more likely they will be 6 percent than 4 percent next spring. This lights a fire under buyers.”
Source: “Discounts expected in spring housing market,” The Wall Street Journal (March
Vacation home sales surge higher
MIAMI – March 23, 2011 – Vacation home and condominium sales in Florida, Hawaii and other states hit hard by the housing downturn have posted dramatic gains.
In Miami, existing condo sales surged 58 percent during the year-over-year period ended in February; and statewide, condo and single-family home sales climbed 29 percent and 13 percent, respectively, due to low property prices and mortgage rates.
About 50 percent of these sales were cash purchases, and about 70 percent involved foreclosures or short sales.
“We’re even seeing instances in certain neighborhoods with multiple offers above asking price,” says Miami Realtors Chairman Jack Levine.
This means home prices continue to decline, with the median in Miami down 23 percent for single-family homes and 25 percent for condos from February 2010. However, prices are beginning to pick up on the Miami waterfront, where distressed sales accounted for only a fraction of transactions
Rob Skeel , Realtor- e-Pro - Cell --305-393-6300 Email--rob@robskeel.com
Century 21 Keysearch Realty--877-660-4637
Web Site-- www.RobSkeel.com
Monday, February 21, 2011
Washington Report--The end of a mortgage era
Highlights of the "Obama" administration's white paper eliminates many of today's favorable mortgage conditions. So, if you plan to finance a home purchase it most likely will cost you more in the near future:
Higher insurance fees on FHA mortgages
A possible increase in minimum down payments for FHA-currently just 3.5%
Significant reductions in maximum loan amounts later this year for both FHA
and conventional loans eligible for purchase by Fannie or Freddie Mac unless Congress votes to retain the current statutory $729,750 limit for high-cost areas (Florida Keys) before it expires on Oct 1.
The report also calls for raising down payment requirements at Fannie Mae and Freddie to 10%
Retaining the controversial and costly add-on fees charged by Fannie & Freddie that can increase the expense of obtaining even a moderate sized mortgage by thousands of dollars.
The administrations wants to wind down Fannie and Freddie over the coming years but also reduce the size of FHA's role-cutting its market share from around 30 percent today to 10%.
Bottom Line:Get ready to pay more for mortgages no matter what ultimately happens to Fannie & Freddie.
Higher insurance fees on FHA mortgages
A possible increase in minimum down payments for FHA-currently just 3.5%
Significant reductions in maximum loan amounts later this year for both FHA
and conventional loans eligible for purchase by Fannie or Freddie Mac unless Congress votes to retain the current statutory $729,750 limit for high-cost areas (Florida Keys) before it expires on Oct 1.
The report also calls for raising down payment requirements at Fannie Mae and Freddie to 10%
Retaining the controversial and costly add-on fees charged by Fannie & Freddie that can increase the expense of obtaining even a moderate sized mortgage by thousands of dollars.
The administrations wants to wind down Fannie and Freddie over the coming years but also reduce the size of FHA's role-cutting its market share from around 30 percent today to 10%.
Bottom Line:Get ready to pay more for mortgages no matter what ultimately happens to Fannie & Freddie.
Friday, February 11, 2011
Real estate is 'as affordable as it gets'
NEW YORK - Feb. 10, 2011 - Now is a good time to buy real estate, according to data from Moody's Analytics. Home affordability has returned to pre-housing bubble levels or even fallen below the average in many U.S. markets.
In fact, housing affordability by the end of September had returned to or fallen below the average reached between 1989-2003 in 47 of the 74 housing markets that Moody Analytics tracked.
In September 2010, the ratio of home prices to annual household income had fallen to 1.6 - below the historical average of 1.9 between 1989 and 2003. The ratio peaked in 2005 at 2.3.
"Based on incomes, this is as affordable as it gets," says Mark Zandi, chief economist at Moody's Analytics. "If you can get a loan, these are pretty good times to buy."
Source: "Home affordability returns to pre-bubble levels," The Wall Street Journal Online (Feb. 8, 2011)
If you have question or need information about the Keys please contact me or go to my web site www.robskeel.com which contains all kind of great data about the Florida Keys.
In fact, housing affordability by the end of September had returned to or fallen below the average reached between 1989-2003 in 47 of the 74 housing markets that Moody Analytics tracked.
In September 2010, the ratio of home prices to annual household income had fallen to 1.6 - below the historical average of 1.9 between 1989 and 2003. The ratio peaked in 2005 at 2.3.
"Based on incomes, this is as affordable as it gets," says Mark Zandi, chief economist at Moody's Analytics. "If you can get a loan, these are pretty good times to buy."
Source: "Home affordability returns to pre-bubble levels," The Wall Street Journal Online (Feb. 8, 2011)
If you have question or need information about the Keys please contact me or go to my web site www.robskeel.com which contains all kind of great data about the Florida Keys.
Friday, January 21, 2011
Mortgage info and Florida Home sales results 2010
2011 mortgage trends: jumbo loans, cash buys
WASHINGTON - Jan. 17, 2011 - The number of mortgage applications for home purchases is expected to become a bigger part of the mortgage market in 2011 as home prices stabilize, predicts the Mortgage Bankers Association. Refinancing has mostly dominated in recent months as homeowners looked to lock-in low interest rates, but experts predict refinancing to slow as new mortgage shoppers dominate.
Real estate analysts predict several other trends in the mortgage market for 2011:
· Rates on the rise. The Mortgage Bankers Association predicts mortgage rates to rise slightly in 2011 and hover around 5 percent. They expect rates to increase to about 6 percent in 2012.
· Jumbo loans become more attractive. Jumbo loans (loans over $417,000 in most housing markets and above $729,750 in high-cost housing markets) are expected to pick up pace in the next few months. Jumbo loans often have higher mortgage rates than conforming loans. However, with mortgage rates on jumbo loans dropping, experts predict a hike in refinancing and purchase applications for high-end housing.
· All-cash purchases. All-cash purchases represented about a quarter of all existing home purchases in the last four months of 2010, according to Lawrence Yun, chief economist of the National Association of Realtors®. He expects all-cash purchases to continue to represent a big part of the real estate landscape in 2011.
· Slow and complex mortgage loan process. The time between application and closing can take as much as 60 days and that's not expected to get any faster, experts say. Lenders often recommend borrowers lock in a loan 60, 75 or 90 days to help ensure the loan process will be completed within that lock-in period. The industry's new levels of documentation and verification are causing lengthy delays in the loan process, experts say.
Florida's existing home, condo sales up in Dec. and for 2010 December existing-home sales jump, says NAR
ORLANDO, Fla. - Jan. 20, 2011 - Sales of existing homes and condominiums in Florida rose in December, a positive trend also reported at the close of 2010 as statewide sales activity posted gains over the previous year, according to the latest housing data released by Florida Realtors®.
A total of 15,550 existing single-family homes sold statewide in December, up 4 percent from the 14,923 homes sold in December 2009.
Looking back on 2010, Florida's existing home sales rose 5 percent for the year, with a total of 170,848 homes sold compared to 162,873 homes sold in 2009. Statewide existing home sales activity in 2010 also was 37.5 percent higher than 2008 statewide sales, records show.
"It's encouraging to close out the year for Florida's housing market with increased sales activity," said 2011 Florida Realtors President Patricia "Pat" S. Fitzgerald, manager/broker-associate with Illustrated Properties in Hobe Sound. "The homebuyer tax credits helped to fuel home and condo sales during the first half of 2010, while favorable affordability conditions and historically low mortgage rates continued to bring buyers into the market in the waning months of the year.
"Looking to the future, 2011 is going to be a year of opportunity for buyers and sellers," Fitzgerald added. "Industry analysts report seeing steady economic improvements, including more jobs and stronger consumer confidence, which will have a positive, stabilizing impact on the housing market."
In Florida's condo market, a total of 72,050 units sold statewide in 2010, a gain of 29 percent compared to 55,900 units sold in 2009. Statewide existing condo sales activity in 2010 was up 90.6 percent over the 2008 sales level, records show.
The latest industry outlook from NAR offers positive predictions for 2011. "Continuing gains in home sales are encouraging, and the positive impact of steady job creation will more than trump some negative impact from a modest rise in mortgage interest rates, which remain historically favorable," said NAR Chief Economist Lawrence Yun. "All the indicator trends are pointing to a gradual housing recovery."
In December, the interest rate for a 30-year fixed-rate mortgage averaged 4.71 percent, down from the 4.93 percent average during the same month a year earlier, according to Freddie Mac.
I
Rob Skeel
Realtor Century 21 Keysearch Realty
e-Pro
305-393-6300
rob@robskeel.com
www.robskeel.com
WASHINGTON - Jan. 17, 2011 - The number of mortgage applications for home purchases is expected to become a bigger part of the mortgage market in 2011 as home prices stabilize, predicts the Mortgage Bankers Association. Refinancing has mostly dominated in recent months as homeowners looked to lock-in low interest rates, but experts predict refinancing to slow as new mortgage shoppers dominate.
Real estate analysts predict several other trends in the mortgage market for 2011:
· Rates on the rise. The Mortgage Bankers Association predicts mortgage rates to rise slightly in 2011 and hover around 5 percent. They expect rates to increase to about 6 percent in 2012.
· Jumbo loans become more attractive. Jumbo loans (loans over $417,000 in most housing markets and above $729,750 in high-cost housing markets) are expected to pick up pace in the next few months. Jumbo loans often have higher mortgage rates than conforming loans. However, with mortgage rates on jumbo loans dropping, experts predict a hike in refinancing and purchase applications for high-end housing.
· All-cash purchases. All-cash purchases represented about a quarter of all existing home purchases in the last four months of 2010, according to Lawrence Yun, chief economist of the National Association of Realtors®. He expects all-cash purchases to continue to represent a big part of the real estate landscape in 2011.
· Slow and complex mortgage loan process. The time between application and closing can take as much as 60 days and that's not expected to get any faster, experts say. Lenders often recommend borrowers lock in a loan 60, 75 or 90 days to help ensure the loan process will be completed within that lock-in period. The industry's new levels of documentation and verification are causing lengthy delays in the loan process, experts say.
Florida's existing home, condo sales up in Dec. and for 2010 December existing-home sales jump, says NAR
ORLANDO, Fla. - Jan. 20, 2011 - Sales of existing homes and condominiums in Florida rose in December, a positive trend also reported at the close of 2010 as statewide sales activity posted gains over the previous year, according to the latest housing data released by Florida Realtors®.
A total of 15,550 existing single-family homes sold statewide in December, up 4 percent from the 14,923 homes sold in December 2009.
Looking back on 2010, Florida's existing home sales rose 5 percent for the year, with a total of 170,848 homes sold compared to 162,873 homes sold in 2009. Statewide existing home sales activity in 2010 also was 37.5 percent higher than 2008 statewide sales, records show.
"It's encouraging to close out the year for Florida's housing market with increased sales activity," said 2011 Florida Realtors President Patricia "Pat" S. Fitzgerald, manager/broker-associate with Illustrated Properties in Hobe Sound. "The homebuyer tax credits helped to fuel home and condo sales during the first half of 2010, while favorable affordability conditions and historically low mortgage rates continued to bring buyers into the market in the waning months of the year.
"Looking to the future, 2011 is going to be a year of opportunity for buyers and sellers," Fitzgerald added. "Industry analysts report seeing steady economic improvements, including more jobs and stronger consumer confidence, which will have a positive, stabilizing impact on the housing market."
In Florida's condo market, a total of 72,050 units sold statewide in 2010, a gain of 29 percent compared to 55,900 units sold in 2009. Statewide existing condo sales activity in 2010 was up 90.6 percent over the 2008 sales level, records show.
The latest industry outlook from NAR offers positive predictions for 2011. "Continuing gains in home sales are encouraging, and the positive impact of steady job creation will more than trump some negative impact from a modest rise in mortgage interest rates, which remain historically favorable," said NAR Chief Economist Lawrence Yun. "All the indicator trends are pointing to a gradual housing recovery."
In December, the interest rate for a 30-year fixed-rate mortgage averaged 4.71 percent, down from the 4.93 percent average during the same month a year earlier, according to Freddie Mac.
I
Rob Skeel
Realtor Century 21 Keysearch Realty
e-Pro
305-393-6300
rob@robskeel.com
www.robskeel.com
Wednesday, October 20, 2010
Foreclosure Moratorium Update
Moratorium on foreclosure sales empties bargain bin
Bargain buyers have to look harder to find foreclosed homes as bank-owned properties were yanked from the South Florida market during the past three weeks.
Four lenders froze foreclosure proceedings several weeks ago after allegations that paperwork was faulty, or in some cases even fraudulent.
It’s unknown how fast Bank of America, which said Monday that it was restarting its foreclosure proceedings, will be able to get its repossessed homes into circulation, but Realtors and investors say they hope the uncertainty clouding the process clears soon.
Also Tuesday, the White House said that an interagency task force on financial fraud has launched an investigation into the foreclosure process.
“If this turns into a lengthy situation, it could really destabilize the marketplace as discount buyers compete for properties or decide to sit on the sidelines.
The reduction of bank-owned homes leaves fewer than 4,000 foreclosures on the market in South Florida, including 1,650 single-family homes and 2,271 condominiums.
“The person I wouldn’t want to be is the listing agent on bank-owned properties because effectively they are going on vacation for the next quarter,” Zalewski said.
Some economists have said a foreclosure delay will pump up the economy by slowing the number of discounted properties going to market, which could even out or bolster home prices.
But investor Don Cameron, who owns a South Florida franchise of We Buy Ugly Houses, disagrees. Cameron buys many of his homes at Palm Beach County’s thrice-weekly foreclosure auctions, carefully researching the condition and history of each property before bidding.
When sales are pulled because of the moratorium, that research is wasted, he said.
Also, Cameron’s business involves rehabilitating homes, which means hiring people for construction jobs. Through the sales of the houses, Realtors make commissions, title companies have business, and taxes get paid.
“It’s all a domino effect and it’s stunting and halting economic recovery here,” Cameron said.
Two federal agencies look for fraud
WASHINGTON – Oct. 20, 2010 – The Obama administration said Tuesday that it has started its own investigation into mortgage foreclosures, joining the nation’s 50 state attorneys general in probing the alleged use of faulty or fraudulent documents to seize tens of thousands of homes.
White House press secretary Robert Gibbs released a statement Tuesday morning saying two federal agencies “have undertaken their own regulatory and enforcement investigation into the foreclosure process.”
The statement came the morning after Bank of America announced it would resume seizing more than 100,000 homes in 23 states next week, lifting a moratorium it imposed Oct. 8. The bank said that despite accusations that documents filed in courts were flawed, it had found no significant problems with its foreclosure actions.
Foreclosure laws are set by states, which makes federal prosecution difficult, defense lawyers said. The administration could pursue lenders and mortgage servicers under various federal statutes such as mail, wire or bank fraud, said attorney Daniel Mestaz of Scottsdale, Ariz.
In past federal investigations of big lenders, “It almost always ends up being some kind of settlement or arrangement, and the people who go to prison are the little guys,” Mestaz said.
Portland, Ore., lawyer Robert Calo suspects investigators will look at individuals such as notaries, but if fraud is “pervasive enough, if enough people are looking the other way, including higher officers, then they’ll tag the bank.”
Despite investigations of Goldman Sachs, Countrywide and AIG, no major player has been convicted in the subprime mortgage crisis, said former federal prosecutor Robert Mintz, now a New Jersey defense lawyer.
State attorneys general announced a 50-state probe on Oct. 12 into foreclosure practices. On Oct. 6, Attorney General Eric Holder said federal officials “are looking at” reports of mortgage fraud. Gibbs’ statement Tuesday goes further than Holder’s remark in saying that an “investigation” is underway by the Federal Housing Administration and the Financial Fraud Enforcement Task Force.
The task force, created in November, includes senior officials from 24 departments and agencies including the Justice and Treasury departments.
Task force leaders, including Treasury Secretary Timothy Geithner and Housing and Urban Development Secretary Shaun Donovan, are scheduled to meet privately today to discuss the foreclosure crisis.
Rob Skeel , Realtor- e-Pro - Cell --305-393-6300 Email--rob@robskeel.com
Century 21 Keysearch Realty--877-660-4637
Web Site-- www.RobSkeel.com
Bargain buyers have to look harder to find foreclosed homes as bank-owned properties were yanked from the South Florida market during the past three weeks.
Four lenders froze foreclosure proceedings several weeks ago after allegations that paperwork was faulty, or in some cases even fraudulent.
It’s unknown how fast Bank of America, which said Monday that it was restarting its foreclosure proceedings, will be able to get its repossessed homes into circulation, but Realtors and investors say they hope the uncertainty clouding the process clears soon.
Also Tuesday, the White House said that an interagency task force on financial fraud has launched an investigation into the foreclosure process.
“If this turns into a lengthy situation, it could really destabilize the marketplace as discount buyers compete for properties or decide to sit on the sidelines.
The reduction of bank-owned homes leaves fewer than 4,000 foreclosures on the market in South Florida, including 1,650 single-family homes and 2,271 condominiums.
“The person I wouldn’t want to be is the listing agent on bank-owned properties because effectively they are going on vacation for the next quarter,” Zalewski said.
Some economists have said a foreclosure delay will pump up the economy by slowing the number of discounted properties going to market, which could even out or bolster home prices.
But investor Don Cameron, who owns a South Florida franchise of We Buy Ugly Houses, disagrees. Cameron buys many of his homes at Palm Beach County’s thrice-weekly foreclosure auctions, carefully researching the condition and history of each property before bidding.
When sales are pulled because of the moratorium, that research is wasted, he said.
Also, Cameron’s business involves rehabilitating homes, which means hiring people for construction jobs. Through the sales of the houses, Realtors make commissions, title companies have business, and taxes get paid.
“It’s all a domino effect and it’s stunting and halting economic recovery here,” Cameron said.
Two federal agencies look for fraud
WASHINGTON – Oct. 20, 2010 – The Obama administration said Tuesday that it has started its own investigation into mortgage foreclosures, joining the nation’s 50 state attorneys general in probing the alleged use of faulty or fraudulent documents to seize tens of thousands of homes.
White House press secretary Robert Gibbs released a statement Tuesday morning saying two federal agencies “have undertaken their own regulatory and enforcement investigation into the foreclosure process.”
The statement came the morning after Bank of America announced it would resume seizing more than 100,000 homes in 23 states next week, lifting a moratorium it imposed Oct. 8. The bank said that despite accusations that documents filed in courts were flawed, it had found no significant problems with its foreclosure actions.
Foreclosure laws are set by states, which makes federal prosecution difficult, defense lawyers said. The administration could pursue lenders and mortgage servicers under various federal statutes such as mail, wire or bank fraud, said attorney Daniel Mestaz of Scottsdale, Ariz.
In past federal investigations of big lenders, “It almost always ends up being some kind of settlement or arrangement, and the people who go to prison are the little guys,” Mestaz said.
Portland, Ore., lawyer Robert Calo suspects investigators will look at individuals such as notaries, but if fraud is “pervasive enough, if enough people are looking the other way, including higher officers, then they’ll tag the bank.”
Despite investigations of Goldman Sachs, Countrywide and AIG, no major player has been convicted in the subprime mortgage crisis, said former federal prosecutor Robert Mintz, now a New Jersey defense lawyer.
State attorneys general announced a 50-state probe on Oct. 12 into foreclosure practices. On Oct. 6, Attorney General Eric Holder said federal officials “are looking at” reports of mortgage fraud. Gibbs’ statement Tuesday goes further than Holder’s remark in saying that an “investigation” is underway by the Federal Housing Administration and the Financial Fraud Enforcement Task Force.
The task force, created in November, includes senior officials from 24 departments and agencies including the Justice and Treasury departments.
Task force leaders, including Treasury Secretary Timothy Geithner and Housing and Urban Development Secretary Shaun Donovan, are scheduled to meet privately today to discuss the foreclosure crisis.
Rob Skeel , Realtor- e-Pro - Cell --305-393-6300 Email--rob@robskeel.com
Century 21 Keysearch Realty--877-660-4637
Web Site-- www.RobSkeel.com
Tuesday, September 14, 2010
Florida Keys Real Estate Market result through August 31, 2010
Welcome to Century 21 Keysearch Realty
It is a great time to find your dream home in the Florida Keys. Mortgage interest rates are at historical lows and residential home prices are very good.
The following are real estate statistics through August.
If you need additional information regarding a particular area of the Keys or about a specific type of property please let me know..
Market result through August 31, 2010
Upper Florida Keys
Residential properties sold - Up 22.1% over same period last year.
Pending sales Up 20.1% over same period last year.
Average sales price- down 15.2%
Florida Keys -Key Largo to Key West
Residential properties sold - Up 25.1% over same period last year
Pending sales Up 17.7% over same period last year
Average sales price- down 10.2%
Currently there are 201 pending sales in all of the Keys, 127 of these properties are under $400,000, 127 are between $400,000 and $1,000,000 and 7 properties over $1,000,000.
145 of these properties are either foreclosures or short sales.
Rob Skeel e-Pro
Century 21 Keysearch Realty
305-393-6300
YOUR FLORIDA KEYS REAL ESTATE CONNECTION
It is a great time to find your dream home in the Florida Keys. Mortgage interest rates are at historical lows and residential home prices are very good.
The following are real estate statistics through August.
If you need additional information regarding a particular area of the Keys or about a specific type of property please let me know..
Market result through August 31, 2010
Upper Florida Keys
Residential properties sold - Up 22.1% over same period last year.
Pending sales Up 20.1% over same period last year.
Average sales price- down 15.2%
Florida Keys -Key Largo to Key West
Residential properties sold - Up 25.1% over same period last year
Pending sales Up 17.7% over same period last year
Average sales price- down 10.2%
Currently there are 201 pending sales in all of the Keys, 127 of these properties are under $400,000, 127 are between $400,000 and $1,000,000 and 7 properties over $1,000,000.
145 of these properties are either foreclosures or short sales.
Rob Skeel e-Pro
Century 21 Keysearch Realty
305-393-6300
YOUR FLORIDA KEYS REAL ESTATE CONNECTION
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