I am planning on having a running commentary on the real estate market in the Fl Keys. Just last month I went to Colorado Springs for a reunion and while there I read an article in the local newspaper. What I found interesting was that you could have crossed out Colo Spgs and inserted my hometown of Marathon and the article would read the same. Why is real estate SLOW in most of the country? Down here, is it the hurricanes? Maybe a little. How about the increase cost of mortgage money? Maybe a little. How about the high cost of insurances? Maybe a little.The list could go on and on. No single item controls our market. Our buyers typically come from up north. Are homes selling in Michigan? No. Are they selling in New Jersey? Not many. If they can not sell their home up north, they do not have the funds to purchase a home here. Will our market turn around? Yes. We have no more land and only just so many homes on the water. Our season will begin soon, we have about 500 listings just in the middle Keys. Doesn't sound like many but last year at this time we only had about 230. Days on the market has jumped for about 20 to in excess of 120. You can go to my web page www.RicChamplin.com and find out all about the Keys.
Your comments on this blog are appreciated.
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