We
are Recovering
The
last newsletter asked “Have We Turned the Corner?” and
the one before that “Have We Hit Bottom?” This
quarter I can say with no reservations that “We
are Recovering.”
Upper Keys Residential Sales Analysis
Comparing
Residential Sales in 2009 to those of 2008 in the Upper Keys
Comparing
residential sales in 2009 to those of 2008 in the Upper
Keys, we see:
- Number of Closed Transactions - Up 21%
- Total Sales Volume - Up 2%
- Total Number of Listings - Down 11%
- Number of New Listings - Down 16%
- Average Sales Price - Down 16%
- Pending Sales - Up 45%
- Average Days on the Market - Up 28%
While the beginning of 2009 was somewhat lackluster, you
can see from the data above that things really picked up
as the year went on. Please note that there was a rise in
both the volume of pending sales and the average days on
market because of extended closing times for short sale
properties. I expect these short sales to be with us for
a while. I expect these short sales to be with us for a
while.
"NOW IS THE TIME TO BUY"
is the Watchword of All Real Estate Ads, but Why? 
- Prices are low
- Financing has never been more attractive
- Inventory of Properties is declining
- Tax credits are offered by Uncle Sam
Regarding the Tax credits: Great news!
The $8,000 First Time Homebuyer Tax Credit has been extended
until April 30, 2010. In cases where a binding sales contract
is signed by April 30, 2010, a home purchase completed by
June 30, 2010 will qualify. In addition, there is a $6,500
tax credit offered to current home owners replacing their
primary residence. It has always been difficult for our
children to remain in the Keys due to the high cost of housing.
Too many young people wanting to stay in the Keys are needlessly
throwing hard-earned rent money down the drain when they
could be building equity in a home. Now, with lower home
prices and tax credit incentives, the feasibility and financial
benefits of home ownership are worth serious consideration.
For more information about the First Time Home Buyer Tax
Credit, consult your tax advisor. You can also go to www.federalhousingtaxcredit.com.
Let’s keep our future here!
2009
Final Sales Figures Again Show Realty World-Freewheeler
the Upper Keys Sales Leader
In
addition to being the company with the highest per agent
volume, Freewheeler is also the sales leader closing over
$10 million in sales above our closest competitor.
2009 Islamorada Area Real Estate Sales
January 1, 2009 - December 31, 2009
Figures
based on statistics provided by Florida Keys MLS
Freewheeler
Construction Corp. Why Go Green?
 There
is a lot of talk about “going green” and it
applies to construction more than most other industries.
A building is considered “green” when the
products and materials have been matched to the specific
design and site in ways that minimize environmental impacts.
Other “green” building strategies include
conservation of energy and water as well as use of non-toxic
materials. There is a misconception that “green” means
spending a lot more money, but industry data show average
increased costs to be less than 2%. Even with this small
increase, the investment pays for itself many times over
through the life of the improvement.
Like many areas of the country, here in the Keys construction is primarily
focused on remodeling projects. With major remodels, we can address many
of the design and component selections (flooring, windows, paint, finishes,
lighting, appliances, etc.) to incorporate desired “green” factors.
For more information about “green” remodeling, give John
a call at 305/664-5213. You can also go to www.buildinggreen.com.
Vacation
Rental News
Last Fall we hosted a raffle for a one week stay in an oceanfront Vacation
Rental. The response was enormous and the drawing was held November 1,
2009. The lucky winner was the Bukowski family from Staten Island, NY
and they will be staying at Alligator Reef in a 3 bedroom, 2 bath oceanfront
pool home. Congratulations to the Bukowski family. May 1st of this year
we will conduct another raffle. Watch for it on our Facebook page.
Why Use a Management Company?
 Have
you ever heard these words?
“My
car broke down and I spent the rent money repairing
it” or my personal favorite
“Someone broke into my apartment and stole the rent money along with my
Rolex”
Put
a buffer between yourself and these aggravating excuses.
Give Amy Lindback a call at 305/522-0711.
Quote
of the Quarter
Year's
end is neither an end nor a beginning but a going on,
with all the wisdom that experience can instill in us."
---Hal
Borland,
American author
Realty
World-Freewheeler has Two Upper Keys Locations:
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