I hope you all had a merry Christmas and are ready to ring in 2007 in just a few days.
January 1st marks the beginning of the season and as every year there are many new listings coming on the market right now.
These are the listings that have come on the market since my last post:
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Only one listing has sold since then but keep in mind that nothing closes on a Holiday. The listing that closed is a house in Venetian Shores:
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Tomorrow I have a showing on one of my listing and I continue to see increased activity in the Real Estate market.
I hear from quite a few buyers lately that they want to wait and see 'what the market is doing'. There have been so many areas in the US where Real Estate prices have dropped in the past year. Not in the Keys! Yes, there have been less sales but actual sales prices have not dropped. It is really impossible to compare the Keys to any other Real Estate market in the US even in Florida. We all know the favorite three words of a Realtor 'Location, location, location' but it's true! This is the single most aspect to consider if you are making an investment and are concerned about the value in the future. This will always be a desirable vacation area with the only Coral Reef in the US.
We have a buyers market for the first time in years in the Keys; that means that the market is favorable for buyers!
Don't forget: If you have investment property in another state and want to purchase something in the Keys with a 1031 Tax exchange you don't have to sell the other property first! You can do a reverse 1031 exchange. If you want to find out more about that option please give me a call.
As usual: Thank you for reading my blog!