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!
