The U.S. Navy’s newest asset, the USS Independence,  has been at the ship basin in Key West for the last few days, departing today.  Built in Mobile , Alabama, it is on its shakedown cruise, and will stop in Norfolk, Virginia next .   I had the priviledge of going aboard yesterday for a tour, from the stern helopad to the bridge.  It is the Navy’s only (so far) “Littoral” ship, designed especially for work in waters within 15 miles of a shoreline.  The hull is constructed entirely of aluminum sheeting and the angles of the hull surfaces make the ship invisible  to radar.  Underway, control of the ship is either by autopilot or by officers seated at each of six very high tech stations with what resemble videogame joysticks.  Key West is known for the  many interesting and, sometimes, high-profile visitors that are attracted to this island city, and the Independence is just another one!!                                                              

The real estate firm I’m with is Preferred Properties Coastal Realty, Inc. Our main office is in Key West, and the office that I work out of most of the time is on Summerland Key, just 20 miles east of Key West. I look forward every day to arriving at the Summerland office because of its terrific location overlooking a wide boating canal. A very nice residential area, Summerland Key Cove, is located behind the office, and the beautiful canal system offers great Ocean and Gulf access for boaters in the neighborhood. Not bad, looking up from your work to see a boat cruising slowly by!

Our canal

A Great Sentinel

Recently, my son came down from Virginia to spend a week with me.  He’d never been to a tropical place such as the Florida Keys, so we spent a lot of time enjoying the “American Caribean”.   One of our outings was a fishing trip out to our Barrier Reef, located about five miles east of the islands known as “the Keys”, where you can just look right down at the sea bottom to see the Yellowtail Snapper, Grouper, and the many other species of local fish.  

The photo shows the American Shoals Lighthouse, one of several such structures located along the Reef to keep ships from running aground.  This one formerly was occupied full-time by a Light-Keeper, who would maintain the warning light.  Nowdays, the light is automated and no longer requires someone being “aboard”. 

To have a look at the Reef, please go to my website, www.BruceInTheKeys.com.  Scroll down my homepage to the slideshow and wait until the satellite photo comes up.  You will notice a long and thin ridge-like feature to the east of the Lower Keys.  You’ll be looking right at our Reef!

What a great day here in the Lower Keys! At 9:00 this morning, temp was 84, now, at 2:05 it is 89 degrees. Just to think-in the three other states Terri and I have lived in,Virginia, Maryland, and North Carolina, the leaves are turning and there have been some chilly mornings. Like a Summer day here under the palms!

The real estate market across the nation has, since 2005, been in quite a state of “adjustment”, and the Lower Keys market is no exception. The silver lining of this cloud, however, it that prices in the Lower Keys are “finding their level”, and the inventory of active residential listings is no longer increasing like it has over the past two years. To put it plainly, now is an EXCELLENT time to be searching for the right second home or investment property here in Florida’s Lower Keys!! Nothing communicates an idea better than an example: a lovely waterfront home on Summerland Key that sold in 2004′s heated real estate market for $950,000 just closed at $725,000. Let’s hope those owners had some deep equity! This scenario is being played out daily, now, and it is producing the perception that there are somefantastic values here. This perception is actually a reality, and market activity is responding favorably-Buyers are snatching up some terrific bargains that will perform well for them, not to mention the pleasure of having and using a home here in”Paradise.”

More GOOD NEWS is that mortgage interest rates are at near historic lows, and mortgage money is plentiful-our lenders really WANT to make those real estate loans! There are, of course, many factors driving interest rates, not the least of which is the direction in which the Federal Reserve moves. Along those lines, a just-released book titled “The Age of Turbulance: Adventures In A New World” is a must read. The book describes the life of Alan Greenspan, the 13th Chairman of the Federal Reserve Board of Governors and includes his predictions on what will happen in the new world economy.

Today’s Featured Property: 20880 Sixth Avenue in Cudjoe Gardens has recently had a large price reduction! This water-enthusiasts’s canalfront home has an 80-foot concrete dock with davits, and is less than five minutes to the Atlantic Ocean or theGulf of Mexico. Please e-mail buyinparadise@bellsouth.net for mor information.

Have a great holiday weekend!