Florida Real Estate News & Market Trends

Market reports, local insights, and practical guidance for buyers and sellers from Key Largo to Key West. Updated regularly with current data from the Florida Keys MLS. Topics include market trends, home values, buying and selling tips, and neighborhood spotlights across the Upper, Middle, and Lower Keys. If you have questions or want to schedule a call, visit ScheduleJim.com.

April 30, 2020

Staying Home in the Florida Keys

Functional space in your florida keys home

#StayHome: How to Create Functional Spaces in Your Home
During the Coronavirus Outbreak

Since the outbreak of the novel coronavirus (COVID-19), many of us are spending a lot more time at home here in the Florida Keys. We’re all being called upon to avoid public spaces and practice social distancing to help slow the spread of this infectious disease. While it can be understandably challenging, there are ways you can modify your home and your lifestyle to make the best of this difficult situation.

Here are a few tips for creating comfortable and functional spaces within your home for work, school, and fitness. We also share some of our favorite ways to stay connected as a community, because we’re all in this together … and no one should face these trying times alone.

Begin with the Basics

A basic home emergency preparedness kit is a great addition to any home, even under normal circumstances. It should include items like water, non-perishable food, a flashlight, first aid kit, and other essentials you would need should you temporarily lose access to food, water, or electricity.

Fortunately, authorities don’t anticipate any serious interruptions to utilities or the food supply during this outbreak. However, it may be a good time to start gathering your emergency basics in a designated location, so you’ll be prepared now-—and in the future—should your family ever need them.

Ready to start building an emergency kit for your home? Contact Jim for a free copy of our Home Emergency Preparation Checklist!

Working From Home

Many employees are being asked to work remotely. If you’re transitioning to a home office for the first time, it’s important to create a designated space for work … so it doesn’t creep into your home life, and vice versa. If you live in a small condominium or apartment, this may feel impossible. But try to find a quiet corner where you can set up a desk and comfortable chair. The simple act of separating your home and workspaces can help you focus during work hours and “turn off” at the end of the day.

Of course, if you have children who are home with you all day (given many schools and daycares are now closed), separating your home and work life will be more difficult. Unless you have a partner who can serve as the primary caregiver, you will need to help manage the needs of your children while juggling work and virtual meetings.

If both parents are working from home, try alternating shifts, so you each have a designated time to work and to parent. If that’s not an option, experts recommend creating a schedule for your children, so they know when you’re available to play, and when you need to work.1 A red stop sign on the door can help remind them when you shouldn’t be disturbed. And for young children, blocking off a specific time each day for them to nap or have independent screen time can give you a window to schedule conference calls or work uninterrupted.

Homeschooling Your Children

Many parents with school-aged children will be taking on a new challenge: homeschooling. Similar to a home office, designating a space for learning activities can help your child transition between play and school. If you’re working from home, the homeschooling area would ideally be located near your workspace, so you can offer assistance and answer questions, as needed.

If possible, dedicate a desk or table where your child’s work can be spread out—and left out when they break for meals and snacks. Position supplies and materials nearby so they are independently accessible, and place a trash can and recycling bin within reach for easy cleanup. A washable, plastic tablecloth can help transition an academic space into an arts and crafts area.

If the weather is nice, try studying outside! A porch swing is a perfect spot for reading, and gardening in the backyard is a great addition to any science curriculum.

In addition to creating an academic learning environment, find age-appropriate opportunities for your children to help with household chores and meal preparation. Homeschooling advocates emphasize the importance of developing life skills alongside academic ones.2 And with more meals and activities taking place at home, there will be ample opportunity for every family member to pitch in and help.

Staying fit in the Florida Keys

Staying Fit

With gyms closed and team sports canceled, it can be tempting to sit on the sofa and binge Netflix. However, maintaining the physical health and mental wellness of you and your family is crucial right now. Implementing a regular exercise routine at home can help with both.

If you live in a community where you can safely exercise outdoors while maintaining the recommended distance between you and other residents, try to get out as much as possible. If the weather is nice, go for family walks, jogs, or bike rides.

Can’t get outside? Fortunately, you don’t need a home gym or fancy exercise equipment to stay fit. Look for a suitable space in your home, garage, or basement where you can comfortably move—you’ll probably need at least a 6’ x 6’ area for each person. Many cardio and strength training exercises require little (or no) equipment, including jumping jacks, lunges, and pushups.

And if you prefer a guided workout, search for free exercise videos on YouTube—there are even options specifically geared towards kids—or try one of the many fitness apps available.

Socializing From a Distance

Even though we’re all being called upon to practice “social distancing” right now, there are still ways to stay safely connected to our communities and our extended families. Picking up the phone is a great place to start. Make an effort to reach out to neighbors and loved ones who live alone and may be feeling particularly isolated right now.

And while parties and playdates may be prohibited, modern technology offers countless ways to organize networked gatherings with family and friends. Try using group video conferencing tools like Google Hangouts and Zoom to facilitate a virtual happy hour or book club. Host a Netflix Party to watch (and chat about) movies with friends. Or plan a virtual game night and challenge your pals to a round of Psych or Yahtzee.

There are safe ways to connect offline, too. Rediscover the lost art of letter writing. Drop off groceries on an elderly neighbor’s porch. Or organize a neighborhood “chalk walk,” where children use sidewalk chalk to decorate their driveways and then head out for a stroll to view their friends’ artwork.

Of course, there’s one group of people who you can still socialize with freely—those who reside in your home. Family dinners are back, siblings are reconnecting, and many of us have been given the gift of time, with commutes, activities, and obligations eliminated. In fact, some families are finding that this crisis has brought them closer than ever.

YOU ARE NOT ALONE

Even with all of the tools and technology available to keep us connected, many of us are still feeling stressed, scared, and isolated. However, you can rest assured that you are not alone. We’re not only here to help you buy and sell Florida Keys real estate. We want to be a resource to our clients and community through good times and bad. If you and your family are in need of assistance, please reach out and let us know how we can help.

Sources:

1.      CNBC -
https://www.cnbc.com/2020/03/16/how-to-work-from-home-with-your-kids-during-the-coronavirus-outbreak.html

2.      TheHomeSchoolMom.com -
https://www.thehomeschoolmom.com/benefits-of-homeschooling-2/

April 28, 2020

New Price on Key West Golf Club Home with Pool!

Love Playing Golf, Laying by the Pool, and Sunny Key West?

Then Check Out: 277 Golf Club Drive, Key West, Florida

$795,000!!!

This spectacular home offers security and privacy behind the gates of The Sanctuary within the Key West Golf Club.

277 Golf Club Dr Key West Florida Keys

There is plenty of room for you and your guests with 3 bedrooms and 2.5 bathrooms.

Both levels offer a beautiful view of the tropical pool area which is uniquely surrounded by dense trees for your privacy. 

277 Golf Club Dr Key West pool home for sale

Kick back in your swimming pool with your friends and family. Enjoy the nineteenth hole at the exclusive Key West Golf Course.

Key West Golf Club

Own a piece of paradise. 

For more information on this beautiful piece of property and answers to all of your real estate needs,

contact Jim Signor today!

305-394-4449 - Mobile
  

Jim Signor REMAX All Keys Real Estate

April 28, 2020

Survey of Home Prices after Pandemic 2020

What are Realtors seeing with regard to home prices?

The article below includes some interesting market statistics for real estate during the coronavirus pandemic. 

In the Florida Keys, price adjustments appear to be at a normal rate for the market.  There were homes that were priced too high before the pandemic that needed to be adjusted.  However, there is no panic selling, at least on a macro basis. 

In fact, we are seeing many home listings being either withdrawn or canceled, possibly reflecting owners' sentiment that the Florida Keys is a great place to be at this time.  That said, it may be possible to locate a good purchasing opportunity where a specific owner may have a need to move forward.

The article begins with this:

According to a new survey from the National Association of Realtors®, nearly 3 in 4 Realtors currently working with sellers this week – 74% – reported their clients haven’t reduced listing prices to attract buyers. This suggests interested home sellers are remaining calm and avoiding panic selling during the uncertain economic environment brought about by the coronavirus pandemic, according to the organization.

Read on: https://www.floridarealtors.org/news-media/news-articles/2020/04/waiting-price-cuts-due-pandemic-keep-waiting

Let me know if I can help you locate the perfect property or market your home for sale.  ScheduleJim.com

florida keys real estate listings

April 23, 2020

Twin Lakes in Key Largo is the BEST Neighborhood!

What do the locals of the Florida Keys think about their neighborhoods?  We are featuring genuine reviews from residents so you can hear the pros and cons of Keys neighborhoods and condominiums from their perspectives, not just me, "The Realtor"!  Do you have something to add?  Send a write-up with a few photos and/or videos and we'll add it to our list.

I Love My Neighborhood!!!

By K.M., Key Largo 

Twin Lakes is located at Mile Marker 102 (ish)… This neighborhood is in an ideal location in Key Largo with walking distances to restaurants, shops, an Escape Room castle, an ICE CREAM SHOP…  My fiancé has lived here in the same house for over 10 years. I have been here in Twin Lakes for only about three years. Both of us have been Keys residents for about 20 years. Both living in multiple neighborhoods from Key Largo to Islamorada. In my opinion, this is one of my favorite neighborhoods!

We live on Bostwick Drive and there is always so much activity! There are people always walking down the street with their kids and dogs, waving Hello, being friendly.

There is a boat ramp conveniently at the end of our street for Twin Lakes residents only.

Twin Lakes Key Largo boat ramp

I LOVE taking our boat or paddleboard through the canals to look at the houses and wave hi to all our neighbors. All the houses are unique and well-kept, and we love looking at all the house projects everyone has going. It always gives us ideas for our own projects and inspires us to keep improving our house. Also, nine times out of ten, we get to see our favorite neighbors of all, MANATEES!!

manatee in key largo florida

On our street, there are NEVER trashcans left out on the street! It sounds silly, but it is just an unspoken thing that whoever goes out first to get the cans, they bring in the neighbor’s, too. This and my awesome neighbors have truly ruined it for me when I go down a street with empty trashcans sprawled out in the streets, tipped over with leftover trash blowing around. This is one of the small details that make Twin Lakes an above and beyond neighborhood that outsiders admire and residents appreciate.


I absolutely love my neighborhood but this is all coming from my own point of view.

Thank you for your valuable contribution in reviewing this neighborhood in Key Largo!

It's refreshing to hear the opinion of a Florida Keys local.  We are looking forward to adding more local reviews soon.

In the meantime, you may want to learn more about current homes for sale in Twin Lakes.  For more information about any of the properties, or to find about how I can successfully market your home for sale, contact me.  Call or simply go to ScheduleJim.com to arrange a safe, COVID-19 free, meeting.

 

April 21, 2020

Coronavirus Is Changing Real Estate Sales Contracts

The coronavirus is changing real estate sales contracts. The shift looks permanent.

 

 

Contracts between a seller and buyer in South Florida may never be the same again. As coronavirus continues to spread, residential real estate agents are adding the “COVID rider” to existing contracts and including it in all new sales. [Source: Miami Herald]

Posted in
April 20, 2020

411 Mahogany Ave Key Largo - Home for Sale

First time on the market

Two-bedroom stilt home with screened-in bar area downstairs with an additional area that includes 2 beds and a bathroom.  Waterfront homeowners park nearby.

411 Mahogany Dr Key Largo

Waterfront Homeowners Park for Boating in The Keys

bay haven subdivision in key largo

Tropical backyard in Key Largo

Tropical backyard in Key Largo 411 Mahogany Dr

Downstairs entertainment and bar area

key largo home with built-in bar

Compare with these non-waterfront homes for sale in Key Largo

Key Largo homes for sale

April 16, 2020

Real Estate in the Florida Keys 2020: Service over Selling

Two out of three sellers are taking measures to protect their home and their health. The most common change is that 32% won’t allow an open house now. Another 21% of sellers are demanding buyers wash their hands and/or use hand sanitizers. Twenty percent of agents are seeing more demand for virtual showings that remove the risk of face-to-face interaction. Things are changing.

coronavirus florida keys real estate 2020

We are changing and adapting, too. Changing our mindset, the way we communicate, and more than ever the desire to serve, not sell is our business. 

We are focusing on service over sales and making our clients’ health and safety our number one priority.

We are doing everything we can without face-to-face contact — virtual appointments, virtual staging, FaceTime, Zoom meetings, and video tours.

In these virtual tours, we will do everything we can to make you feel as if you’re there. We’ll talk about the backyard. We’ll talk about the great landscaping. We’ll show you the electrical box. We’ll talk about the age of the roof. We’ll talk about the strange little frog statue in the corner of the garden. We’ll show you the neighborhood. If there’s a pool, or tennis courts, or anything that’s part of the community, we’ll make sure we have that included as well.

Then, we’ll walk you through your front door. You will feel the experience of walking into the home as if you’re there. And then the tour begins, the great room where there’s excellent natural lighting, wood coating and beams, 9-foot ceilings, a really huge pantry for snacks! We will not only give a detailed description of what you can see in the home, but also our own personal comments. Our goal is for the buyer’s experience to be as if we are walking through the entire home together.

Because the health and safety of our clients is our main concern, during this time, we are not just going to let any buyer come through a seller’s home. We are going to do our homework and provide the best service possible. We’re going to make sure that they are not just prequalified, but preapproved.  We’re asking the buyer’s agent to be so kind as to send that approval letter over to us upfront. We’re asking the buyer’s agent to review the Seller’s Disclosure. If there is a showstopper on the Seller’s Disclosure, then we can immediately take that property off the list and move on to find your dream home. We’re trying really hard to weed these things out with you upfront, having those deep discussions regarding, “Is this a floor plan you like? What’s the time frame you’re wanting to move? What’s your motivation level?” These conversations and details assure our buyers and sellers that, this is either a true showing or we are not going to waste anyone’s time. Again, this isn’t meant to be harsh. It’s the health and safety of all that is the focus.

We now have a Coronavirus Addendum. In that addendum, is an acknowledgment to both the buyer and the seller that there are events happening that’s outside of our control. There are so many appraisers in the world, there are so many underwriters in the world, and there are so many title companies. So, the timeliness, Mr. and Mrs. Buyer, to get your lender everything you need is more important than ever. The closing date may be a bit of a moving target. It isn’t hard concrete. As a buyer nowadays, you must do your part. We will guide you through the process and provide the best service possible, then we must be patient.

We are here for you every step of the way on a professional level, on an integrity level, and more importantly, on a community level. 

To recap, everything is moving virtual. In most cases, almost an entire transaction can be done virtually. We have adapted to doing business online — virtual appointments, virtual meetings, virtual home tours, and virtual open houses.

Number two, speaking of virtual open houses, the goal is for the buyer’s experience to be as if they’re walking through the home. We will take our time. Show you everything. Open the cabinets and closet doors, show the electrical panel, comment on the appliances. We will provide as much detail as the buyer would get if we were touring the home together.

Number three, the “preliminary homework” we are doing with buyers looking at everything beforehand, getting you preapproved, getting all the details ironed out to make sure you’re really interested before we go further is a crucial part of the process for all parties involved. We’ll do our part by driving around the block, checking out the neighborhood, walking around the outside and inside of the house, feeling the sunshine on our faces in the backyard — and then when everything feels right and all the preapproval is in place, we’ll continue to move forward. Together.

Last, but certainly not least, we are focusing on service overselling. Now is the time to be 100% available to help people in need however we can. We are here to serve our clients and community professionally and personally. Making our clients’ health and safety our NUMBER ONE priority.

 

Posted in
April 7, 2020

COVID-19 and the Upper Florida Keys real estate market 2020

COVID-19 pandemic and the effect on Upper Florida Keys real estate market

What's the most common question we hear as Realtors in the Florida Keys?  Well in March of 2020 the answer is definitely  "How's has real estate market in the Keys been affected by the COVID-19 virus ".

Many have the preconceived notion that the answer will border on catastrophic but have been surprised to hear my response - "based multiple views daily of the MLS 'hotsheet', sales are closing and new contracts are being written".

Simple Market Stats for homes from Key Largo through Islamorada - 2020 as compared with 2019 for the period of March 7 through April 7

  • Closed Sales are 53 in 2020 as compared to 68 for 2019 - (78%)
  • New Contract/Pendings are 32 in 2020 as compared to 44 for 2019 - (73%)
  • New Listings are 73 in 2020 as compared to 117 for 2019 - (62%)
  • Withdrawn/Cancelled Listings are 19 in 2020 as compared to 18 in 2019 - (106%)

What the numbers indicate

  • Closed Sales - Yes, the actual number of closed sales is down from the prior year with the COVID-19 pandemic certainly having some effect.  Some buyers who had planned to get mortgage financing failed to qualify due to unexpected employment challenges while others may have had a change of heart given the circumstances.
  • New Contracts - The number that surprises many people is the new contracts.  While the numbers are down as expected, the figure is nowhere near catastrophic.  Just as with actual closings, new contracts are affected by the ability of borrowers to qualify for mortgage loans.  Interest rates are down (a good thing) but job losses are way up (not good).  Those who can buy are viewing properties, virtually at first in many cases, and using a good real estate agent to determine the best values.
  • New Listings - This number was expected to hold flat or even increase but is down substantially.  As one of the most reliable predictors of market stability in the Keys, the small number of new listings suggests current owners enjoy not only the physical environment around them but the future of their large investment in the Florida Keys
  • Withdrawn/Canceled Listings - This figure is essentially flat with the only noticeable observation that the properties in 2020 tended to be at the higher end of the price range as compared to 2019.  Perhaps the luxury owners want to spend more time here while the owners in the more modest price range are more affected economically.

What's next if you are a seller or buyer

If you are considering selling and moving on to another opportunity, interest rates remain low and the purchasing power for many buyers is at a high point.  You can be pretty sure that anyone going out to view homes during this period is a "real buyer" and not simply a casual looker.  Good real estate agents are screening their buyers more stringently than ever and have protocols in place for safe showing procedures designed to keep you and your family safe.  Get started by getting factual information about your neighborhood using our Florida Keys neighborhood report.

If you are in the market to buy, it's a new world in that you will probably begin and end your home search virtually.  On a case-by-case basis, physical showings are being conducted, inspections are being performed, contracts are being executed, lenders are lending, and closings are happening.  We've just had to adapt a bit.

KeysListings.com has quick links to listings at all Key Largo neighborhoods and Islamorada.  Properties for sale in the Florida Keys MLS for other subdivisions and condominiums are also available.  Try the search at Keyslistings.com yourself or ask me and I will set you up.

Contact Jim for assistance

Whether you prefer to DIY on my website or talk in person, just let me know.  You may contact me using the button at the top right of my webpage or give me a call to set up a Zoom meeting or Google Hangout.

 

Florida Keys MLS Listings

 

 

 

 

Posted in
March 24, 2020

80 Ocean Front Drive

This awesome home is situated on a one-of-a-kind lot with a spectacular peninsula extending into the Atlantic Ocean.  Keep your boats tied up at your own private and protected dock and quickly run out to Molasses Reef and beyond.

80 Ocean Front Dr, Key Largo, FL 33037

Asking price is $2,995,000

See how this home compares with other homes for sale in Key Largo Ocean Shores.

Jim Signor, Broker-Associate - Exclusive listing agent for this property.

March 10, 2020

$500,000 PRICE IMPROVEMENT!!

Yep. That is correct.

$500,000 has just been taken off the price of this GORGEOUS, BEACHFRONT property. 

 

To view more homes for sale in Key Colony Beach, CLICK BELOW:

Key Colony Beach homes for sale in the Florida Keys

You Have To See It To Believe It! 

Multi-unit zoning at the beautiful beachfront property in the heart of the Florida Keys. Invite your family and friends to this oceanfront home which includes 4 bedrooms and 4.5 bathrooms with approximately 4,523 sq ft in the main home plus 2 bedrooms and 2 bathrooms with 1,316 sq ft in the detached guest house. Take a walk on the beach, relax in your own private swimming pool, or hit the ball on your own private tennis court for a little exercise. The property, with over 30,000 sq ft, includes paved driveways on both sides leading to plenty of covered parking and a garage. There is plenty of additional storage below the homes for all the toys and a convenience half bath between the pool and beach.

When you are ready to venture off property, Key Colony Beach offers a variety of choices of restaurants, healthy lifestyle activities and, of course, world-class boating. For the entrepreneur, R-3 zoning may offer expansion opportunities.

Now Is The Time!

“We currently have historically low interest rates and low inventory in many markets. It’s all part of the perfect equation for consumers to work with real estate agents on how to navigate the market in changing times and get the best deal.” 

 

With everything happening in the world today, why not live in paradise?

 

Call / Text / Email Jim Signor, Broker - Associate

Mobile: (305) 394 - 4449

Email: [email protected]