Real Estate Florida Keys Market Report 305-395--814

The primary aspects of the Q1 sales for all property types are an overall 23% decrease in the number of sales, while the average sales price increased 28% . In order to understand what caused these changes in the Keys Market, we researched the sales and sales prices for the following property types: Single family waterfront (SFW), single family non-waterfront (SFNW), condo/townhome/duplex/half-duplex (CTD), mobile homes (MH), lots and land (LL) commercial properties and boat slips (BS). We did this for each of the four Keys market areas for 2016 compared to 2015, and for the percentage contribution for each property type in each market area to the total.

Click on the Picture for a full copy of the Report 

Lela Ashkarian

305-395-0814

From the foregoing, we know that all property types in all markets experienced declines or no changes in the number of sales with the exception of Single Family Waterfront (SFW) properties in the Middle Keys and Key West, which uniquely experienced increases. Additionally, we understand that the increase in ASP for SFW properties, which make up 31% of the Keys market is the result of significant increases in number of sales of $1M+ properties in the UK (56%), MK (57%) and for the LK (33%) due to increases in sales and average sales price. The exception being Key West which, as noted above, has a relatively small number of SFW properties. The increases in the luxury market continue the trend starting in 2015. The $1M+ residential market from April 2015 to March 2016 also had a 16% increase in number of sales and a 6% increase in ASP. For more details on the luxury market see our Luxury Island Property Report newsletter which publishes at the end of the first and third quarters each year. If you would like a copy, just email lela@CBschmitt.com or call us 305-395-0814 or visit www.SearchFloridaKeysHomes.com 

Selling your Florida Keys Home, Don't build Negotiation room into the price 305-395-0814

Homes that underwent a price revision sold for less, and the greater the revision, the lower the selling price. Also, the longer the home remains on the market, the lower its ultimate selling price.

Don’t build “negotiation room” into the price.

Many sellers say that they want to price their home high in order to have “negotiation room.” But, what this actually does is lower the number of potential buyers that see the house. And we know that limiting demand like this will negatively impact the sales price of the house.



Do you know how much your Florida Keys home could sell for in today's market? Get a Free ‪#‎MarketAnalysis‬ Txt 305-395-0814 share this link with friends. www.SearchFloridaKeysHomes.com/sell .  If you are thinking of purchasing your Florida Keys Vacation Home visit www.SearchFloridaKeysHomes.com [WEBSITE]

Toes in the Water! Duck Key Florida Keys, 104 Bimini Drive,

Duck Key Florida Keys, 104 Bimini Drive, Toes in the Water! 

Marathon, Florida Neighborhood

Txt Call Lela Ashkarian

305-395-0814

www.SearchFloridaKeysHomes.com 

A picture is worth a thousand words. Sometimes, you can look at the picture of a home, a land in which you are interested and it clicks. Other times, you look at the picture and you just can't seem to connect with it. Either way, in order to determine if a home you see on paper or on the Internet is the ONE, you really need to see it in person. Click Here to View the Entire Florida Keys MLS Listings 

Duck Key, Florida Keys  Open Water Home 2/2 upstairs on Toms Harbor, large 11,888 sq ft lot, plenty space for a large pool, built in 1971.Lower level has Two bedrooms and Two Baths. Screened in porch overlooking the open water view, concrete seawall. How amazing would it be to wake up in the morning and step out onto your own private porch overlooking the Open water? What a Dream. House needs some loving.

This house needs Love! Waking up refreshed in the morning with a smile on your face, it really does not matter if your first thought is devoted to your swim with dolphins, going fishing, diving or loving to swim here at this house is a dream come true. 

You can join the Duck Key Club 

For the tennis enthusiast there are 2  tennis courts which are used for tournaments, daily singles and doubles matches - and there's plenty of time for casual play. 

The club grounds consist of several acres and are beautifully landscaped with native trees and flowering shrubs. There is also a large Tiki Hut at one end of the pool is a favorite spot for monthly Tiki Tuesdays and informal happy hours. 

To view the Duck Key Club Rules click Here 


Duck Key is located in the Florida Keys at Mile Marker 61 on the ocean side. The lifestyle in Duck Key is very laid back where neighbors, fish, snorkel and dive right off their doorstep. A casual existence that stresses year round outdoor life for which the Florida Keys are famous. 

Grand canals traversed by ornate bridges tell of Duck Key's European / West Indies heritage. Duck Keys is a natural island. A composite of five islands: Yacht Club Island, Center Island, Harbour Island, Plantation Island and Indies Island, which provide seclusion, privacy and security. Only one road connects Duck Key to the main highway US1. 

Duck Key Florida Keys, 104 Bimini Drive, Toes in the Water! 

Marathon, Florida Neighborhood

One More Time… You Do Not Need 20% Down To Buy NOW

One More Time… 

You Do Not Need 20% Down To Buy NOW

A survey by Ipsos found that the American public is still somewhat confused about what is actually necessary to qualify for a #homemortgage #loan in today’s housing market. The study pointed out two major misconceptions that we want to address today. 

1. Down Payment

The survey revealed that consumers overestimate the down payment funds needed to qualify for a home loan. According to the report, 36% think a 20% down payment is always required. In actuality, there are many loans written with a down payment of 3% or less.  Share this link with a friend or family member. www.SearchFloridaKeysHomes.com 

Many renters may actually be able to enter the housing market soonerhttp://www.SearchFloridaKeysHomes.com  than they ever imagined with new programs that have emerged allowing less cash out of pocket.

2. FICO Scores

The survey also reported that two-thirds of the respondents believe they need a very good credit score to buy a home, with 45 percent thinking a “good credit score” is over 780. In actuality, the average FICO scores of approved conventional and FHA mortgages are much lower.

The average conventional loan closed in March had a credit score of 753, while FHA mortgages closed with a 685 score. The average across all loans closed in March was 722. The graph below shows how the average FICO Score required has come down over the last 12 months and has stayed around 722 for the last six months.

Bottom Line

If you are a prospective buyer who is ‘ready’ and ‘willing’ to act now, but are not sure if you are ‘able’ to, sit down with a professional who can help you understand your true options.