Florida Keys Real Estate Market Update

Good news for home seekers and investors in the Florida Keys!  Despite an increase in available properties and longer days on the market compared to last year, homes are still selling swiftly when priced appropriately. 

When priced right, properties are attracting eager buyers, leading to quick and successful sales. So, if you're a seller, partnering with a knowledgeable realtor who understands the local market is crucial to ensure your property is competitively priced. 

It's essential to be cautious when setting your listing price. Homes not priced correctly may experience more negotiations, with buyers being able to secure an average discount of about 92% off the original…

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May numbers are in! As of June 1st: Median sold price continues to increase. Month over month May saw a decrease of average days on market and a slight uptick in the original list price to sold price ratio. Our absorption rate is now over 6mo of inventory. While we are fully back in a neutral market in the Keys, homeowners and buyers should feel good about home values holding steady. *Oh, by the way ... I can help connect you with great Realtors anywhere in North America! I'm never too busy for referrals!  Erin Kiel REALTOR® GRI, AHWD, C2EX Better Homes and Gardens Real Estate Destinations

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PUBLIC NOTICE 

April 6, 2023 Special Meeting 

The Board will convene at the Marathon Government Center, 

2798 Overseas Highway, Marathon FL 33050 

Public participation will be via Communications Media Technology at: 

Zoom webinar: https://mcbocc.zoom.us/j/88280298409 

To report problems with the broadcast or Zoom webinar, please call (305) 872-8831. 

The April 6, 2023 Meeting of the Board of County Commissioners of Monroe County, FL will be a hybrid format with the County Commission meeting live at the Marathon Government Center, but the public will be able to participate via Communication Media Technology (“CMT”) using a Zoom Webinar platform. The meeting will commence at 10:00 A.M. Below are the various options available to the…

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One Thing is for Certain: 

Time Passes, Whether We're Ready for It or Not!

This year feels different and is undoubtedly unique as people are spending more time than ever at HOME. 

Holiday decorations adorned houses earlier than normal, beginning with Halloween decor blowing in August's wind.   Some Christmas trees even went up directly after All Hallows Eve.  White lights lined roofs, as they twinkled in the nights before Thanksgiving.  

People are craving something to celebrate, whether it's around a holiday or not.  This year has just been one huge reminder to CELEBRATE;  to learn from the bad and enjoy the smallest of moments;  to support and love on each other;  to ask for help;  to be more giving;  to remember we're human but always…

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3 Steps to Ready Willing and Able Certification

 

We are continuing to see the slight shift to a Seller's Market in the Florida Keys.  New inventory has consistently been equal to or less than exiting inventory (properties sold or pending to sell). The market sways between being balanced and shifting slightly in favor of sellers.  If you know you'd like to Buy or Sell, OR you have been contemplating it, consider becoming RWA Certified.

With the help of your Local Realtor...it really is as easy as 1, 2, 3!

  1. READY- Sellers, is your house literally ready to sell?  Has whatever needs to be fixed/updated been done?  Will it pass inspection to the best of your knowledge.  Having thought about this and taking action now, saves time later…

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#6 Aspects to Consider When Purchasing Investment Property in the Florida Keys

  1. Location!  It’s no secret to YOU how magnificent the Florida Keys are.  And lucky for an investment property owner here, it isn’t a secret for the rest of the world either!  The Florida Keys, as a whole, are a Top Tourist Destination resulting in vacation and short term rental price increases.  Additionally, monthly and longer term rentals are also increasing in year round demand (not just the typical “high season” months of Jan-May).  Limited properties in general, drive up appreciation of rentals and overall home values year after year.
  2. Financing! If using financing to purchase, keep in mind you will have to bring more money to the table of an investment property…

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Pre-Approvals:  7 Things You Need to Know Before You Buy

Have you talked to a lender and obtained your Pre-Approval Letter?

  1. It’s important to talk with Lenders or Mortgage Loan Originators and find the one that best suits your needs. This is the FIRST STEP you should take before looking at properties to purchase.   

  2. When speaking with lenders, have basic financial information at the ready (think bank and other financial statements, tax returns, paystubs, security IDs etc). 

  3. Pre-Qualification vs Pre-Approval:  Just about anyone can get a general Pre-Qualification Letter.  If you really want to buy a property, push for a Pre-Approval.  This carries more weight for you as a Buyer, and is only given to those who show proof of…

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As a Seller, aren't you looking for Top Dollar? 

To do so, it's imperative to set your home apart.

 It's 2020---->Time to Get SMART!

10 Things you NEED TO KNOW now about Smart Homes:

1.  A smart home uses internet-connected devices for remote monitoring and management of appliances and systems.

2. You can't just install a Smart thermostat and call it a day.  The following requirements outline how a property can fall in the "Smart Home" category:

      • A Smart Security Device (like a smart lock or camera), a Smart Temperature Feature (like a smart thermostat), AND of course an area capable of securing Wireless Internet Connection.

      • Additionally,  two more Smart features are mandatory. However, these can range from lighting…

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What You Need to Know

 

On Wednesday, June 17th, The Monroe County Board of County Commissioners voted to make Facial Coverings mandatory throughout Monroe County, effective immediately.  Please refer to the link below for the full article. For now, here is what you need to know:

 

  1. Facial Coverings are MANDATORY for all business employees and customers, when the business is in practice under a roof.  This includes public settings under a roof.  

  2. All people over 6 years of age should carry Facial Coverings, and they should be worn when within 6 feet of another person.

  3. Facial Coverings can be removed when seated to eat or drink, ensuring that there is 6 feet distance between the next person.  The same holds true for…

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