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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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