Florida Keys Market Update

The Upper Keys have seen their share of good deals in the last few weeks.  Last week I wrote about a unit at Plantation by the Sea for just $169,500. I still expect this unit to sell and come back on the market at a much higher price after needed renovations. 

Unit 4213 at Ocean Pointe -$141,000

This week there is a new listing at Ocean Pointe in Tavernier for just $141,000.  This is a one bedroom, one bath unit bank owned unit in Building 4, which is the closest building to the Ocean at Ocean Pointe. It is even offered fully furnished - rare for a bank owned property.  The on-site rental program can generate a very nice rental income for the new owner and this unit is ready to close and start being rented again. 

3 Madeira Drive - Pending, Listed at $179,000

Pending sales include one of my listings at 3 Madeira Drive in Key Largo.  This cute 2 bedroom, 1 bath home is completely redone on the inside and is ready to be used as a rental income generator or primary residence. Listed at just $179,000 at the time of contract, it is expected to close very quickly. 

271 Jasmine Street - Sold for $152,500

Closed sales include an adorable 2 bedroom, 1 bath home in popular Plantation Key Colony in Tavernier, which is a great neighborhood with bayfront homeowner's park. This home is CBS, has bamboo flooring and a fully fenced yard. It was a short sale and just closed for $152,500. 

Follow the links below to see the activity for the entire Florida Keys Market.

New Listings
Pending Sales
Closed Sales

Listing information obtained from the Florida Keys MLS. Listing links will automatically expire after 9/29/2011

It's a great time to invest in Florida Keys real estate.  If you'd like to learn more about me and the services I offer my buyers and sellers, visit me at www.TracyLarson.com

The residents of the Florida Keys can breathe a sigh of relief over Hurricane Irene. The center core of the storm is now at latitudes north of the Florida Keys, and Hurricane Irene has officially missed the island chain, Jon Rizzo, warning coordinator for the National Weather Service office in Key West, said Thursday.
The center of Irene came within 230 miles of Key Largo, the closest point in the Keys to the Category 3 storm, Rizzo said. 

With its center now about 205 miles east of Fort Lauderdale, Irene is continuing to move north-northwest at 13 mph, according to forecasters at the National Hurricane Center. It it is expected to turn north and then north-northeast early Friday.

There were no tropical cyclone warnings or watches in the Keys -- or anywhere else in Florida -- associated with the storm. Monroe County Emergency Management officials officials did not need to issue protective actions.

Still, because the outer bands may cause rough boating conditions in and around the Keys, the Key West National Weather Service office continues a small craft advisory today through Friday morning for all waters (Atlantic Ocean and Florida Bay) between Key Largo and the Seven Mile Bridge. After that, small craft operators in the Upper and Middle Keys should exercise caution through Saturday morning.

For more information and complete local weather forecast, visit http://www.srh.noaa.gov/key.

This past week the real estate market continued to show signs of stability with a nice balance of new listings and pending or closing sales.

69 new listings came on the market, 44 properties went under contract and 38 properties closed.

New Listing - #244 Plantation by The Sea

Of the notable new listings there is a 2 bedroom 1.5 bath condo at Plantation by the Sea in Tavernier. This condo is bank owned and is in need of all new appliances and significant cleaning and remodeling, but at $169,500, it may not be on the market long. There are two other remodeled units with the same floor plan on the market that are offered at $245,000 and $259,000. Amenities include heated pool, fishing pier, fitness room and sauna and a clubhouse.

Pending Sale - 291 8th Street, Key Colony

Pending listings include a canalfront home in popular Key Colony near Marathon. This 4 bedroom, 3 bath home also includes a membership to the Cabana Beach Club, featuring a large swimming pool and private sandy beach. It was offered at $599,000 at time of contract

Sold Listing - 901 Thomas Street, Key West

Closed sales include a 3 bedroom 1.5 bath conch home in the heart of Old Town Key West.  This home is located in a private gated compound of just three homes that share a pool, waterfall, outdoor shower and off street parking. It sold for $450,000


To see the properties, follow the links below:

New Listings
Pending Sales
Closed Sales


Listing information gathered from the Florida Keys MLS. Links will automatically expire after 9/24/2011

If you want a home in the Keys to meet an exact set of criterias and features, it can oftne be better to build a new home than purchase an existing home.   Of course, building requires a permit and there is a lengthy process to obtain one. 

The other alternative is to purchase a lot that already has an active permit, allowing you to begin building right away.  Bear in mind that you will need to stay within the confines of what the existing permit is for.

There is a wide variety of preoprties Keys-wide that currently are for sale and have active permits.  Follow the link below to view the list.



If you would like a complete guide to understanding the residential building building permit process, click here for an article that will provide a great deal of information

To remain true to our blogs name - Florida Keys Market Update - we're now including market activity for the entire Florida Keys on a weekly basis. 

This week there were 66 new listings, 59 pending listings and 356 sold listings - not bad for the dig days of summer, which is slowly winding down.

1219 20th Terrace - Key West - $394,500

Of the new listings, a beautiful bank owned home in Key West came on the market for $394,500. Located in the "New Town" part of Key West, this home has 3 bedrooms, 2.5 baths and an in-ground pool.  The kitchen has high-end appliances and granite counters.

1851 Long Beach Dr - Big Pine Pending Sale

Pending sales included a very private home with over 400' of ocean frontage on Big Pine Key.  This has preserve lands on either side of it, ensuing it will alwyas stay private.  It was offered at $1,390,000 at time of contract.

102 Iroquois Street - Sold for $75,000

Sold listings include a ground level bank owned hom in Tavernier. This home is in need of a considerable amount of repairs, but went under contract in just one  day. Listed for $79,000 it sold for $75,000.

Follow the links below to view the listings:

New Listings
Pending Listings
Sold Listings

Rates are low, inventory is plentiful, making it an ideal time to invest in Florida Keys real estate.  From Key Largo to Key West, we can help you find you're place in the Keys.

If you're thinking of selling, it's a great time to get your property ready for the upcoming season. Let us start marketing your property today to have everything in place once season starts. Call to learn more about our exclusive seller services.

Listing information gathered from the Florida Keys MLS. Links automatically expire after September 15th.

You don't have to spend $1,000,000 to have the famed "Millon Dollar View" views.  There are just over 20 properties in the Florida Keys that have open water views for under just $500,000.  From the Upper Keys to the Lower Keys, there something for every taste and budget.

For additional information on any of the listings, don't hesitate to call or email.

Century 21 recetly posted a question to their real estate agents asking for the top 5 ideas used when working with buyers in a resort/tourist town.

I'm happy to say that I was chose as #5. Read the full article below:

5 Tips For Selling Homes In Tourist Towns | Century 21 Blog

Cooks Island - off Big Pine Key

When most people think about purchasing property in the Florida Keys, they try to imagine what life on an island is like.  The Florida Keys are a chain of islands, connected to the mainland by a series of bridges. Some of the time, it is easy to forget you're living on an island.

18 Cooks Island - Offered at $299,500

But what about life on a real island - one not connected to anything? No bridges, no roads, no phone lines, no power lines?

Cook's Island, off the tip of Big Pine Key, is just such a place. This 67 acre island was settled by Captain Percy Cook in 1923. Cook's Island is a rustic throwback to the original Keys lifestyle that has been sensitively developed. The homes built here are are eco friendly, with solar power and collected rainwater to provide for the basic needs. Cook's Island is only accessible by boat.

Kayaking, fishing and snorkeling are at your doorstep with reef heads just offshore. The beautiful beach of Bahia Honda is a short boat ride away. A nature lovers paradise, the Key Deer are just one of the animals that inhabit the island.

18 Cook's Island is on the market for $299,500.  It is a one bedroom cottage, reminiscent of an old Florida Keys fishing shack. This is a great opportunity to own a part of Florida Keys history. The property is currently bank owned and in need of repairs. There are also some code violations that need to be brought into compliance.

Despite it's flaws, the property is quite unique and could be used as a island retreat or vacation rental.  For more information, call or email.

Many banks have started using more rigorous approval methods, making it difficult for some buyers to obtain financing despite being "qualified" for a loan.  For a variety of reason, many buyers are now looking for properties that might consider owner financing.

Follow the link below to preview a list of homes throughout the Florida Keys from Key Largo to Key West that are currently being marketed with possible owner financing.  Please note, most owners will have certain criteria they expect a buyer to meet such as putting a percentage of the purchase price down, shorter loan lengths and more.

If you'd like to find out what each particular sellers details are for owner financing, don't hesitate to call or send me an email.







(Note: Search results will take a moment to fully load on the next page)

The first week of August has provided us with some much needed relief in the form of rain, with many showers helping ease our dry conditions.  Despite the rainy weather, the real estate market continued to do well, with an increase in new listings coming on the market. Perhaps sellers are trying to get an early jump on the upcoming "season" or perhaps they are hoping to get their properties sold while interest rates remain low. 34 new listings came on the market, 12 properties went under contract and 14 properties closed.

A-502 Moon Bay - listed for $268,000

Of the new listings, one of them is listed by my partner Beverly Dillon and myself. It is a 2/1.5 bath condo in Moon Bay in Key Largo. It is offered fully furnished and comes with a deeded boat slip. It has bay views from the living room and the master bedroom. It is listed at $268,000.

203 Mohawk St. - Pending. Listed at $350,000

Pending listings include a canalfront home in Indian Waterways in Tavernier. Listed at just $350,000, it is not surprising that this CBS home went under contract quickly. It is marketed as a short sale. Located on a large corner lot, the home has a 2/2 living are upstairs and a 1/1 apartment downstairs.

822 Bonito Lane - Sold for $475,000

Closed sales include a home in Key Largo, also on a canal. It has a 2/1 living area upstairs and a 1/1 apartment downstairs.  The interior was remodeled less than 2 years ago, with nice counter-tops and stainless steel appliances.  It was listed at $499,000 and sold for $475,000


If you're thinking about selling your home or buying a new one, now is the time. There are ample opportunities for both buyers and sellers alike.

Follow the links below to view the listings:

New Listings
Pending Sales
Closed Sales


Listing information gathered from the Florida Keys MLS.  Listing links will expire on September 9th, 2011.

Top floor 2 bedroom, 1.5 bath condo in Moon Bay with deed boat slip. Offered fully furnished, this unit features split bedroom floor plan, washer/dryer, tile flooring, screened patio, and bayviews from the living room & master bedroom. On-site amenities include electric entry gate, two heated pools, spacious clubhouse, tennis court, and marina. Weekly rentals allowed, with a sound rental history.Offered at $268,000

Learn more at www.A502MoonBay.com

Yet another month has come to a close here in the Florida Keys. We've survived lobster mini-season, haven't had any tropical storms and kids have less than a month before they head back to school.

The real estate market has continued to stay stable during the summer months. Showings are not as frequent, but that is expected during the summer months. This past week we had 21 new listings, 21 properties go under contract and 16 closed sales.

Ocean Harbor, Islamorada - $925,000

Among the new listings, there is a fabulous end unit at the desirable Ocean Harbor complex in Islamorada. This 3 bedroom, 2 bath condo offers 2,150 square feet of living space, covered parking, marina, pool and clubhouse. This unit has nice open water views and views of the pool as well. It is offered at $925,000.

Ocean Pointe, Tavernier - pending sale

Pending sales included a 2 bedroom, 2 bath condo at Ocean Pointe. This unit is the popular D floor plan, the only floorplan that offers a balcony and ocean view from the master bedroom.  It is not an upgraded unit and needs to have some work done to it. It was listed at $279,000 at the time of contract.

Lake Road - closed at $900,000

Closed sales include an impressive home on Lake Road in Tavernier. This home has 3 bedrooms, 4 baths and over 2,400 square feet of living space. It is contemporary, with open floorplans, bay windows and stainless steel appliances. It also has a free form swimming pool and lake and bay views. It sold for $900,000


Follow the links to view the listings:

New Listings
Pending Sales
Closed Sales

Listing information gathered from the Florida Keys MLS.  Listing links will expire on August 31, 2011.