Upper Keys Sales Statistics
Let's look at our prices in the perspective of a longer time period than 1 or 2 years. Most of us are not short time “flippers” and purchase real estate as we would any investment for growth and/or income over the “long haul” The extra advantage of Keys real estate is you can enjoy it while it appreciates. Second and/or primary homes comprise the bulk of our residential real estate and we should look at the appreciation over several years. Real estate as any investment will grow in cycles but over time there is a definite pattern to the growth in value. For this discussion we are using all residential property including single family, condominiums and vacant residential property. The following graphs of the average sales price and the median sales price show that since 2000 growth has been an average of little less than 18% and a little more than 18% respectively. 2007 is the only year prices have dropped since the turn of the century and that was only a 4.3% reduction of average price. Historically the Keys have rebounded economically sooner than non resort communities with ample buildable property. Many of the housing figures we constantly hear about are the result of larger communities with tracts of new housing and/or condo projects which have over built. It’s a buyers market and my feeling is that with the finishing of the stretch and the high bridge, the Upper Keys will boom again. Now is the time to buy!
Seven Year Sales Chart
Announcing a new service of Freewheeler - PROP WATCH (Property Watch)
For many years, Freewheeler has offered a property watch service to oversee homes and condos which are not in our rental programs and are second homes with absentee owners. For 2008 we will be expanding that program which consists of a weekly inspection to assure that the property is secure, the utilities are on, the garbage cans are in, the yard is clean, etc. Being primarily a second home community, there is a great need for this service. In 2008, any property sold through Freewheeler will be offered six months of Prop Watch as a closing gift.
Mortgage News: From Amanda Moates
 Now that some of the dust from the credit crisis has settled, many borrowers are in serious need of a mortgage review. I take my job as a mortgage planner very seriously and would welcome the opportunity to do a 10 minute mortgage review to determine if there are other options you should consider regarding your home financing. If you currently have a 3-5-7-10 year fixed or adjustable loan OR you have purchased in the last few years, it may be well worth your while to give us a call to review the options available. It may be time to secure a longer term fixed rate option so that you are shielded from future market fluctuations.
 Please give me a call at 305 484-9296 to discuss your options today. I value our relationships and want to ensure that we are doing everything possible to help our borrowers make the right lending choice for their future.
Vacation Rental News
 One of the catch phrases we use in our rental advertising is “Stay For a Week or a Lifetime”. Any stay over 6 months is considered a long term rental and is not subject to the 11 ½% sales and bed tax. For owners, if you are not using your home at all, a long term rental will usually provide more annual income than a vacation rental. Although the monthly rent is lower, expenses are also lower and there are no vacancies.
If this interests you contact:
Amy Lindback
Amy@Freewheeler-Realty.com
Office: 305 664-2075
Cell: 305 522-0711
Featured Rental Property of the Quarter
 BAY HARBOUR located at Mile Marker 73 on Lower Matecumbe. These new gorgeous luxury condos in a 42 unit development are available in 2 and 3 bedroom units. Dockage is a dedicated slip in a deep water, protected boat basin with immediate access to the bay and easy access to the ocean under the high Channel 5 bridge. All units have breathtaking ocean or harbor views from spacious patios. Amenities include two tennis courts, a heated pool, jacuzzi style spa and a club house with a fitness facility. Being located on Lower Matecumbe, Bay Harbour is on a quiet residential island but minutes from all the main attractions and great restaurants and shops of Islamorada. Bay Harbour is available for weekly or monthly vacations and prices vary with the unit and time of year. As always, all residences come fully furnished, just bring your toothbrush and margarita mix. Call Sherry or Michelle for more details 866 664-2075.
Realty World~Freewheeler’s Agents - Most Productive In Islamorada
The Graph Below Represents the 2007 per Agent Production.
 Meet our Agents
Susan Recarey, our Sales Manager of the Key Largo office was recently named the 2007 Realtor of the Year by her constituents in the Upper Keys Board of Realtors. Susan in addition to being active in all phases of Real Estate for the last 34 years also contributes to many Upper Keys community organizations. She is recognized for her extensive knowledge of real estate and the Upper Keys market.
Freewheeler Going Green
 Shevaun Young, sales associate in our Islamorada office is acquiring for Freewheeler and herself a Realtor Eco-Broker designation. Through her training she will assist all Freewheeler agents in the latest “green” home certifications programs such as Energy Star qualified homes, energy efficient and sustainable design. The designation also assists agents in working through issues that may arise in real estate transactions such as mold, radon gas and poor indoor air quality, providing real solutions. With this knowledge we will be able to protect our environment and our customers at the same time.
 Quote of the Quarter
“The only place Success comes before Work is in the dictionary” - Vidal Sasson
Realty World-Freewheeler has Two Upper Keys Locations
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