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may 2021

 

Hello Clients, Family & Friends.  First off, we hope you all are healthy and safe.  A home has a new meaning to most of us. We are here on the ground in the Keys if we can help you with anything if you are away.

Whether you are looking to buy or sell, I can offer the highest levels in real estate expertise and professionalism.  Don’t hesitate to contact me and allow me to help guide you through that process!  

Berkshire Hathaway HomeServices
Keys Real Estate | 
Knight & Gardner Realty

Sharkkeyflorida@gmail.com   |   305-923-0239
www.Sharkkeyflorida.com

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Here are the Numbers

DEEP DIVE INTO MARKET STATS


We continued to see low supply, fewer new listings, mix that with increased demand and that leads to upward pressure on prices.

Click on the "Market Review" photo for a deep dive into market trends for all the Florida Keys and then broken down by regions.  Key West to Shark Key, North of Shark Key to Big Pine Key, the Middle Keys including Marathon and Key Colony Beach and then the Upper Keys.  Interest rates and inventory continue to push the residential real estate market forward. 

As always for the most accurate and updated data trends on your island or for your property, reach out to our forever agents today at www.keysrealestate.com

Featured property of the month

CLASSIC "CONCH STYLE" HOME
3724 Eagle Avenue, Key West | Listing ID 594878

Nestled on Eagle Avenue, this above flood, classic ''Conch Style'' home sits on a generous 12,000 sf double lot and is located in one of the most desirable neighborhoods in New Town Key West. Upon the entrance of the home, you are greeted with picture perfect green grass and a spacious front porch that wraps around the side.Stepping into the home, you'll enjoy the Brazilian cherry wood floors and an open floor plan with a living and dining area, perfect for entertaining guests and family. The grand kitchen has a lot of cabinet space and conveniently located next to the laundry room which can easily be a ''mud room'' for extra space and storage. This spacious 3,024 sq. ft. home has a downstairs master retreat with an en suite master bath and ample closet space. Heading upstairs, you then will find 3 additional oversized bedrooms, a bathroom and a bonus room which would be great for a playroom, office or tv room. The entire second floor has recently been replaced with plush, brand-new carpet and fresh paint. With the charming dormers, each bedroom is unique and has something to offer for everyone. With French doors off of the master and dining room, you can enjoy indoor/outdoor living on the wrap around porch and deck that overlooks the yard and pool area. The oversized heated saltwater pool and spa has a gazebo overlooking the enormous side yard. This property has enough space for a potential accessory unit for your guests, a garage and much more. Some of the recent upgrades include two brand new A/C's units and air handlers with a 10-year warranty, new carpet, and fresh paint. Built above flood with hurricane impact windows and doors contribute to keep insurance costs low. This home is the epitome of indoor/outdoor living with a lot of space to grow for many years to come.

LOCAL EVENT

THE KEY WEST SONGWRITERS FESTIVAL IS A GO!

FESTIVAL INFO:

Performers for the Festival are selected by the Festival.

What:

The Key West Songwriters Festival - the largest festival of its kind in the world. The festival revolves around five days and nights where live music bliss introduces crowds to the faces, voices and stories behind the songs!

When:

May 5-9th 2021. Shows start early afternoon and play into the late night.

Where:

Key West, FL! Staged at an array of the island's most popular Beaches, Boats, Bars, Resorts and Historic Theatres.

Tickets:

Most of the Festival shows are FREE to enter. The shows that require advance ticket purchase will be announced at a future date. Join our mailing list to get alerts about ticketed shows among other important festival info!

Contact:

For more information about the festival, reach out to us through the contact page here.

HOMEBUYERS' ADVICE

WILL HOME PRICES KEEP RISING?

Homebuyers are getting a lot of mixed messages this year. Interest rates are near record lows, but housing prices are still rising. So should you continue to rent or go ahead and take the plunge to buy? That depends a lot on both your needs and where you live.

You may be wanting more space for home offices, play areas for kids, and more.  You may not have to be close to work, which is one reason why there’s a current exodus out of expensive cities like New York City and San Francisco to suburbs or smaller towns. Another reason is cost.

According to HomebuyingInstitute.com,  home prices will almost certainly continue to rise through 2021, primarily due to limited supply and strong demand. Interestingly, the pandemic appeared to fuel the housing market. Realtor.com reported that median home listing prices rose 15.4 percent between January 2020 and January 2021. And, in the 50 largest U.S. metros homes sold 12 days faster in 2021.  

At the same time, the number of homes for sale in January was down 42.6% year over year. That means 443,000 fewer homes for sale which only exacerbates demand.  

Mortgage interest rates hit record lows in January 2021, with nowhere to go but stay the same or go up. You may want to take advantage of that to keep monthly payments low before housing prices rise further.   

Meanwhile, some home markets may level off, while others like Austin, Seattle and Tampa are expected to heat up.

HOMESELLERS’ ADVICE

REDUCE YOUR HOME'S PRICE THE RIGHT WAY

The first two weeks of marketing are crucial. In that time, if your home has received few showings or offers, price is the most likely issue. It’s time to reduce the price, but do it the right way.

Don’t panic. You may feel two weeks isn’t enough time, but the market has spoken. There’s a magic number that will re-stimulate other real estate professionals to contact their buyers. 

Contact your Berkshire Hathaway HomeServices network professional. They will give you a fresh comparable market analysis and identify any new trends for you, as well as discuss target pricing. A price reduction of 3% to 5% might encourage other real estate professionals to show your home and for buyers to ask their agents to show them your home.

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Featured NONPROFIT of the month

SAMUEL'S HOUSE FAMILY SERVICES

In 1985, Key West native Elmira Leto (Founder of Samuel's House) had a calling to minister to women in jail as they transitioned out of incarceration.  This call to action was the beginning of what would eventually become Samuel's House, Inc. consisting of 3 programs that serve our community in various stages of support from emergency shelter to transitional supportive and on to permanent supportive and then long term residential housing.

 

After a decade of assisting women with their transition from jail, Elmira recognized there was also a growing need to assist these women as they had nowhere to go.  There had been a rise in homeless women due to a variety of circumstances including domestic violence, loss of employment, incarceration, substance abuse, mental and physical illness and other traumatic life events.  The journey to provide support for homeless women became a priority.

 

 Elmira decided to retire from her small business and lead the effort to create Samuel’s House, The "Mary Spottswood Women's Center" which would serve as an emergency shelter for homeless women and women with children.   In early August 1999, Elmira (along with 16 concerned citizens)  incorporated as a 501(C)3 nonprofit organization with a Board of Directors. 

Tremendous support from the community offered a quick renovation of the newly leased building at 1614 Truesdell ct. and doors to the Samuel's House "Mary Spottswood Women’s Center" opened on October 1, 1999. 

 

In June 2007, Samuel's House opened it's second facility.  A (16 bed) transitional to long-term housing facility called "Kathy’s Hope". This facility was designated to recovery from alcohol and drug abuse for women and women with children who have been diagnosed with co-occurring disorders and women requiring a supportive environment. 

 

In December 2010, the third facility was opened named Casa de Meredith. This facility was named in loving memory for Meredith Higgs. This building has seven 2 bedroom apartments and two efficiency apartments.  Casa de Meredith offers truly affordable structured and supportive permanent housing opportunities for women, women with children, men with children and intact families.

 

Samuel's House Inc. is an active member of the Monroe County homeless services continuum of care and is the recipient of funding from the US department of housing and urban development, the Florida Department of children and families, the Monroe County sheriff’s department, the Monroe County Board of County Commissioners, the Klaus Murphy foundation and other family and private foundations including numerous businesses and individuals in our community whom believe in this mission. 

 
 
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FL Lic #: SL655511
336 Duval St. Key West, FL 33040

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