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This is crazy, part II
I guess because I'm a "cheap bastard" and an ex-property owner in the Keys I can't believe the prices for homes down there. If anyone is thinking of buying take your really big check book.
The average price for "regular" properties in the Keys for the first quarter is a smooth $864,093 and the Keys-wide sales were up 66%!!! Oh you might be thinking of moving up to "luxury" properties, the average price is $1,821,524 and the sales of these are up 73%. Oh yeah, now that we are free again as Americans from the Covid crap and may want to go for a weekend or so to the Keys, the average daily room rates are the highest on record. Should have bought stock in Weyerhaeuser or Georgia Pacific lumber! Yep, this is crazy!! |
What goes up must go down... At some point
Strick |
Don - so are rentals in the Bahamas any better?
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Hummm.....good question!! We need an expert to let us know! Danny?
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Townhomes in my community in Islamorada are selling for 450k+ and they don't last long.
Earlier this year I was offered a canal home in Islamorada that was in real nice shape but only a 2 bedroom 2 bath and they were asking 769k. Between the house and closing costs it was just north of $800k . CRAZY |
Yeah Jorge, the realtor I deal with told me if you want a single family house on the water, canal front, in the 3/2 or even 2/2 size in Lower Mat down to Grassy you will have to start in the $1million range.......minimum! OUCH!! On oceanside, and especially bayside, waterfront double it!!
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Friends of ours that bailed out of Key Largo and have home under contract
for over a 1M !! To think 35 years ago past on a home in Islamorada in Treasure Harbor for $250,000... Today 1.6M :eek: House across from area 442 on 10.5 acres just sold for $650. half the size of mine.. They are coming from California ! :rolleyes: Could not take the BS there anymore.. Yes we are on the same page. Thank God ! |
Please, Please, PLEASE.....leave your BS in CA, NY, NJ, etc.!!!!!!! We are and were doing just fine in FL without you and your liberal BS!!
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Even in my humble neighborhood I’m sure I could get 5 times what I paid for my house and lots, but where would I then go.’
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Don not all of us over here in Calif are crazy bastards :) There are so many leaving here right now. If my mom weren't 81 years old we would be gonzo as well...properties here are through the roof as well... strick |
"Don not all of us over here in Calif are crazy bastards"
How about cheap bastards? :) The good thing for us in Florida is Texas is between us and you so a lot of the goofy CA libs stop there!!! |
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Ken thanks for the invite...will work for rabies vaccines lol strick |
As a Realtor of 25 year's experience, my take is these prices are waaaay too crazy. BUT, as long as a waterfront property (and it's immediate area) is above the level of the expected sea level rise, you should expect a modest downward adjustment in price for 2-3 years out of every decade, and 2-5% appreciation in the other 7 years. The Federal Reserve's determination to undermine the value of the dollar by expanding the money supply forever will ensure that any drop in value will be "transitory", unlike their description of inflation, which will be permanent. Example A: The 11 bedroom 9 bath victorian style house in Beach Haven, NJ, (on Long Beach Island, a barrier island) that I could have bought during the recession of 1992 for $350,000 is now for sale at $2.5 million.
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Williams Town, Freeport, Grand Bahama Island rental
Spacious 4-Bedroom Villa, on a Lovely Waterway, with Beach and Ocean Views $195 night end of August. https://www.vrbo.com/4465690ha?unitI...ure=2021-08-26 |
Does the 40'+ CC w/ Quad Merc 350's come with the deal?
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