It didn’t even take a week after Hurricane Irma passed through the Lower Keys before my phone started blowing up with calls from bottom feeders looking for hurricane Irma distress sales. And now, six months later, the first real estate question I am most often asked is, “How Continue Reading
Are Foreclosed Properties Great Real Estate Values?
In short, no. Why? Before the great real estate crash of 2008-2010, foreclosed properties, especially here in the Keys, were very uncommon, if not just flat out nonexistent. And, in the very rare event that a lender was forced to foreclose on a property, they dumped it Continue Reading
CNN Report: Florida Keys
Very nice article about the Florida Keys and the Overseas Highway on the drive from the mainland to Key West. What does this have to do with real estate in Key West? Not much, just a fun article about real estate along the way. Read the CNN article Continue Reading
Federal Funds Interest Rate Unchanged
As many of you may have heard, the Fed (Federal Open Market Committee or FOMC) met on Sep 17 to consider raising the Federal Funds rate from 0% to .25%. The Federal Funds rate is the interest rate that banks can borrow funds from the Federal Reserve and is an [indirect] Continue Reading
Our Tax Dollars Hard At Work – Another $39.2M Down The Drain
Have you heard of the Fair Housing Initiatives Program (FHIP)? HUD (Department of Housing and Urban Development) is allocating $39.2 million to battle housing discrimination. I'm serious as can be...check out the link! Our country is almost $19T in debt ($155k per tax Continue Reading
Your Windstorm Insurance Carrier May Soon Change
As most Florida homeowners are painfully aware, although there is no Florida state income tax, the high cost of insurances can be a deal-breaker for many would-be homeowners. In Key West, one out every three purchases is cash. However, for the other two-thirds, the Continue Reading
Four Florida Cities Top RealtyTrac’s List Of Underwater Homes
RealtyTrac, a firm that specializes in tracking foreclosures and pre-foreclosures just released its list Q2 2015 list of cities with the highest number of “Seriously Underwater” homes. “Seriously Underwater”, as defined by RealtyTrac, is when the outstanding mortgage is 25% Continue Reading
