Saturday, February 1, 2014

Florida Keys real estate market report

The Florida Keys real estate market is fast becoming a challenging market for buyers. The number of properties being sold as short sales has been greatly reduced partly because the market’s values are rising giving sellers more equity. The Florida Keys are seeing a drop in distressed properties entering the market. One might think that this would translate into lower numbers of foreclosures entering the market too, however Florida Keys Foreclosures numbers have remained somewhat constant as lenders seem to want to maintain that inventory around 100 units so as to follow the market up which is mainly driven by arms length transactions much different from what the market was from 2006 through 2011. As most foreclosures were once short sales that did not sell, this number maybe a good indicator of foreclosures to come. The numbers of short sales at time of this writing were down to just under 200. The real estate market here in the Keys reached a low in both volume of sales and property values in 2011. At that time there were close to 800 short sales being marketed. Visit me on line at my Florida Keys real estate website for the most up to date Florida Keys information and the most comprehensive search of the Florida Keys MLS and Florida Keys Homes.

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