My Real Estate Blog

From gorgeous Conch inspired estates, to stunning contemporary masterpieces, these homes are among the best of Florida Keys real estate.

Have extended family and need more than one oceanfront getaway? Conch Key has two luxurious estate homes on a direct oceanfront lot, each with their own private pool and over 4,000 square feet of living space.  Offered at $9,000,000

Or maybe you're more into a home that feels like a work of modern art. In Safety Harbor, you'll find just that, with one 6,000 square feet living space inside and over 3,000 square feet of some of the best outdoor living amenities you'll find.  Offered at $9,800,000

And this list wouldn't be complete without a secluded home with private tropical pool and sandy beach. Tucked away at the end of a dead end street you'll find a magnificent home with 100' of private beach, protected boat basin and caretakers/guest cottages, and of course, endless open water views over Florida Bay.  Offered at $13,500,000

Key West Beachside - it's all right there in the name! 

The first resort as you enter Key West, the Marriott Beachside Key West is not only a great home away from home - it's an investment in island living with a solid rental history, backed by the worldwide Marriott name. 

This unit has two transients licenses, offering flexible rental possibilities as it can be rented as a spacious 2 BD / 2.5 BA suite or as two separate 1 BD units to maximize rental income potential. 

Furnished with elegant appointments you would expect to find at such an upscale resort, including marble floors, granite counter, stainless appliances, and an interior design created by award winning Howard Design Group. 

Naturally, all of the resort amenities are included as well, such as private beach, heated pool & spa, gym, onsite dining, covered parking and more. Invest in Key West!

And don't forget the rental income you'll earn! As of the end of November 2021, the unit has netted over $91,000 in income (December 2021 numbers not yet available).

This is an investment where the dividends are Island Living and Rental Income!

 

Somewhere near the middle to end of 2020, the national housing market went off the charts, and has stayed exceptionally busy for the duration of 2021.  From California to Florida, property has been selling at record levels, at times well above list price.  This fast pace has been seen in both the luxury and middle class segments of the market. 

The biggest group of consumers affected by this? Long term renters.

Buyers were drawn to historically low interest rates and competitive lenders, leading many of them to finally make the jump from renting to owning.  Sellers were drawn to higher than ever selling prices and fast sales, which made the idea of selling and cashing out before the market cooled off seem like a sound financial decision. 

And in the middle of this perfect storm: Covid. 

 
Suddenly, there was literally no place like home. As lockdowns and quarantines became the norm, people began to look at their homes in a new light. Homes became offices. They became classrooms. They became gyms. And they became places to stay safe from Covid-19. Suddenly, everyone wanted to own a home, and properties started flying off the market. 

But as Covid continued to spread, and lockdowns lingered, many people lost their livelihoods, and either paid rents late or stopped altogether because they simply didn’t have the income anymore. The loss of rents, combined with the lure of a quick sale at a good price prompted many sellers to offload their property. 

When those rental properties were purchased, the higher sales price necessitates a higher rental price. Homes that were purchased years ago can rent for relatively low price and still make a profit for the owner, but many of these homes recently sold in the market flurry, forcing those tenants to look for a new place to live. But as the cost of purchasing a home rises, the cost of renting one has to rise as well. 

For example,  let's assume an investor could find a home for sale for $500,000. With $50,000 down and a mortgage at 4% interest, the mortgage payment alone is going to be $2214.  Add in property taxes and insurance, and the monthly cost of the property is over $3000.   When you factor in expenses such as ongoing maintenance and repairs, and you would need to collect at least $3500 just to break even. But here's the catch: Finding that home under $500,000 isn’t going to be easy. As of this writing, there are only 8 available in the Upper Keys. 

 

The reality is, many Keys locals simply cannot afford $3500 for rent. This means they will either have to leave the Keys, take on roommates, or find better paying jobs, which are few and far between in our island home. 

All of this means that the rental picture in the Keys is not an attractive one, and it will probably take some time and some hard adjustments before it corrects, if ever. Recently sold homes with mortgages can’t reduce rental amounts and still break even, and owners that have either had their investments for a long time or don’t have a mortgage don’t want to rent for less than the new higher market rate, making it even harder for people to find a place to live. 

More than ever, it is imperative that we address affordable housing in the Florida Keys. Without it, we lose our workforce. And a community simply cannot exist without its workforce. 

 

Century 21 Real Estate, LLC has been named the #1 Fastest Growing Franchise in the Entrepreneur 2021 list of the Fastest Growing Franchises, published in the magazine’s March issue. Celebrating its 50th anniversary this year, the global industry leader currently boasts a network of 145,000 affiliated sales professionals in approximately 13,000 offices across 86 countries and territories worldwide. Achieving this top ranking further cements the CENTURY 21® brand’s position as a global powerhouse not just within the real estate industry but among the world’s top franchise companies across categories.

 “At Century 21 Real Estate we’re constantly pushing ourselves and our System members to ask, ‘what if?’ and challenge the expected norms of the real estate industry,” said Mike Miedler, president and CEO of Century 21 Real Estate LLC. “It is our commitment to delivering the extraordinary with industry-leading technology, exceptional learning platforms and unique programs focused on driving business growth that is resonating with industry professionals worldwide allowing them to reach their goals and our brand to continue to grow.”

You can't turn on a television or read any news without hearing the latest on the fight against Covid-19. The Keys have been quite successful in keeping our number of infections down, thanks in part to a roadblock barring non-residents and non-property owners from entering the county. But what impact has it had on the local real estate market?

At first glance, it appears that the real estate market remained fairly unscathed, with closings for each quarter being relatively the same in the first quarters of 2019 and 2020.

However, when comparing at the number of closings that occurred in the first quarter of 2019 to the first quarter of 2020, it's important to consider when the properties actually went under contract, instead of the actual closing date.  Many of the properties that are closing now were under contract before the Coronavirus lockdown of the Florida Keys, and much of the rest of the country as well.

I compared the number of contracts being written and fully executed during the first quarter of each period for properties that did close. Normally I do these stats based on closings alone, but considering the unique circumstances of working under a global pandemic, I opted to use dates when properties actually went under contract.

Keyswide Numbers 2019:

Waterfront Single Family Homes: 190
Non-Waterfront Single Family Homes: 184
Condominiums: 59

Keyswide Numbers 2020:

Waterfront Single Family Homes: 158
Non-Waterfront Single Family Homes: 153
Condominiums: 40

These numbers show that while there are still buyers out there looking at property, fewer of them are actually writing offers and going to contract and closing. Hopefully the market will correct itself, as it usually does, in the second and third quarters of the year.

Land is scarce on an island, especially such a narrow chain of islands such as the Florida Keys.

Here is a list of homes in the Upper Keys that offer a little more room to spread out with more than one lot, giving you space for boats, pools, etc.

And they range in price from the low $400's up to the millions, so there is something in just about every price budget.

See anything that catches your eye, call me and let's go take a look at it!

Click here to view the listings.

The ultimate Florida Keys home is one that has easy access to the open water, with tranquil views from the living areas inside.

At just under 300 open water single family homes to choose from, there should be something for just about everyone's budget.

The lowest priced home is listed at $390,000 - but it did suffer considerable damage from Hurricane Irma.  It is also located on Cook's Island - a unique off-shore community unite any other in the Keys.

My personal favorite is 95 Seaview Ave (pictured, top). This house just isn't overlooking the water - it's actually over the water itself. It has a very unique and historic feel to it (built in 1958), but is updated to modern standards. And it is listed at just $699,000.

But if money is no object, be sure to take a look 94100 Overseas Highway,  the most expensive property (pictured, bottom)  on the list - topping out at $24,500,000. Set on over 12.5 private acres, this incredible home features two stretches of private beach, 3 separate structures and several lush nature trails. Upon entering the expansive main house through the porte cochere one begins to feel the essence of the property as you cross a bridge overlooking waterfalls, koi ponds and lush greenery. With exceptional direct unobstructed views of the bay and open airy spaces this house was made for entertaining.

29827 Tropical Trader Rd - Offered at $449,000

South Florida and pool homes practically go hand in hand, and the Florida Keys are certainly no exception. We are home to many lovely pool homes, and I've put together a list of all of the single family homes from Key Largo to Key West that have private pools.

So, which pool is going to be your tropical oasis in the Keys??

Click here to view the listings

It's a common misconception that you have to spend a million dollars or more to buy a home in the Florida Keys.

While a lower price range may not get you that perfect ocean view from a private mansion, it can get you some nice views from condos, and canal front homes.

With over 400 residential properties from Key Largo to Key West, perhaps there is something that will catch your eye!

Click here to view the properties.

Even though the foreclosure crisis never really got as intense here in the Keys as it did nationwide, we still have a handful of properties that are bank owned here in the Keys.

Here are all of the properties in the MLS that have been foreclosed on. While there aren't many to choose from, its important to note that the listing prices of REO properties are quite competitive with traditional market properties.

Click here to see the properties from Key Largo to Key West. 

120 South Bay Harbor Drive has just been reduced to $445,900.

This 4 bedroom, 3 bath home is located on one and a half corner lot in desirable Bay Harbor.  With plenty of room for a pool, this home offers a lot of possibilities.

Downstairs has 2 bedrooms and 2 bathrooms, but could also be utilized as a media or game room room or even a home office. It can also be used for extra guests, or as much needed air conditioned storage.

Upstairs, two large bedrooms share a Jack and Jill bath, and a bonus room can be used to either expand the living room, or expand one of the bedrooms, or even used for something else altogether.

Cathedral ceilings throughout give the home space and volume and the exposed wood beam ceilings give it a  natural warmth.

Easy to see, call today to make an appointment.


Click here for more information and additional photos.

The Miami Herald recently published a very good article about the future of real estate and specifically, real estate professionals.  After all, how many travel agents do you know now that passengers can shop for and buy the best flights at the best prices.

It's no secret that the Florida Keys are known for some very expensive real estate.  Often people think you have to spend a small fortune to find a place to live in these islands.  That's not always the case.

While there aren't a lot, there are still properties on the market for under $250,000 throughout the Keys. Many are condos, or small homes, and some of them actually have water views.

Maybe a second home in the Keys isn't out of reach after all?

Click here to view the properties

It's no secret that the Florida Keys are home to some of the most spectacular waterfront properties in all of South Florida.

Here are the top ten most expensive homes currently on the market in the Upper Keys. Not surprisingly, these homes boast impressive open water views and and represent truly luxurious island living.

Go on . . , dream a little!

The link will take you to the properties, where you can read more about them and see additional photos of the homes.


Click here to see the properties


PS: If you see something you like and would consider purchasing, please give me a call!

Photos are courtesy of the Florida Keys Multiple Listing Service.

Click to enlarge

When comparing January 2019 to January 2020, it shows that the real estate market in the Upper Keys remains stable. There were both gains and losses in average sales price across the various categories.

More residential properties were sold in 2020 than in 2019, and the average sales prices remained consistent.  The area with the biggest change is condos, townhomes and condo-tels - with more units sold in 2020, and a noticeable drop in sales price from 2019 to 2020 for units have water views.



Click on the graphic to the side to see more details.

120 South Bay Harbor Drive

Homeowners Park, just down the street

 This island home features two large bedrooms and shared bath on the main living level, and two bedrooms and two baths in the downstairs enclosure. Located on one and a half lots in a great neighborhood - Bay Harbor - this home has access to a private homeowners park with boat ramp, dockage and sandy beach, just down the street, making it a perfect weekend retreat or full-time residence. All cedar plank siding, freshly painted, metal roof, and fenced yard with access from 2 streets. 

Located halfway between Key Largo and Islamorada, this home is centrally located close to schools, shopping and everything the Upper  Keys has to offer.

Offered unfurnished at $465,000, with a motivated seller.

Click here for more information and additional photos.

It's no secret that the Florida Keys is an expensive place to live. But there are still places you can find under the $250,000 price range.

It may be a small condo, or a small home, and it may or may not be in need repairs and remodeling. In some cases, the homes are un-inhabitable, but since there is already a structure on the land, you can get a permit to build a new home much quicker than if it was just a vacant parcel of land. 

From Key West to Key Largo, here is what is on the market under $250,000.

Click to view listing(s)
(link will no longer be available after 8/22/2019)

Vacation Rentals. We know they are a popular choice among travelers, or sites like VRBO, HomeAway and AirBnB would not exist.

The Florida Keys are no exception. Many an owner has offered their condo or home for vacation rentals to earn income that can offset the cost of owning and maintaining a home in the Keys. 

But before you start welcoming guests into your home away from home, it's important to know if it is legal to do so. Almost every condo association and single family home owner associations have rules and regulations regarding vacation rentals. In some cases, even in when the association allows rentals, Monroe County may not.

Almost all single family home neighborhoods have restrictions in place that do not allow rentals under 28 days. That's straight forward enough. Some condos have restrictions allow rentals of one month or longer, while some others allow weekly rentals. 

But lately, Monroe County has been taking aim at condo associations, and hitting owners that do short term rentals that the county deems "illegal" with hefty fines.

The county requires two things for each vacation rental: an annual permit and a property manager licensed with Monroe County to manage the rental. Learn more about the two requirements by clicking here. Not having both a permit and a licensed manager will result in a violation. Unless you file for and get an exemption.

There are exceptions that could get you an exemption. A vacation rental permit is not required for the following:  (1) A vacation rental of a dwelling unit located within a controlled access, gated community with a homeowner's or property owner's association that expressly regulates or manages vacation rental uses; or  (2) A vacation rental of a dwelling unit within a multifamily building located within a multifamily district, which has 24 hour on-site management or 24 hour on-site supervision. To meet these on-site management or supervision requirements, a designated individual must be physically located within the building or within 300 feet of the subject building and must be available at all times to respond to tenants' and neighbors' complaints.  You can learn more about the exceptions by clicking here.
To make matters more complicated, incorporated cities within the Monroe County, such as Islamorada and Marathon, have their own set of rules and regulations regarding rentals that must also be adhered to in addition to Monroe County rules. 

For instance, there are condos in the Islamorada area that, according to their condo docs, allow short term vacation rentals. However, the Village of Islamorada has a financial threshold that a property must pass before it would even be considered for a vacation rental permit, much less approved. Even though the condo docs allow rentals, units that aren't assessed high enough for tax purposes do not qualify for a permit to do anything less than 28 days.

Once you've done the background research to see if a property qualifies, you will still need to apply for the proper licenses (not permits) from Monroe County and the State of Florida to remit the collected sales tax each month.  It is required to collect and remit 12.5% sales tax on all rentals under 6 months.  The State of Florida gets 7.5% and Monroe County takes 5%.

There are still plenty of opportunities to own a vacation rental in Monroe County, just as long as you do your research and follow the proper guidelines. When in doubt, check with your real estate professional or speak directly to officials at Monroe County.

The 2018 real estate market was a fairly brisk market, especially considering that much of the Keys was still recovering from Hurricane Irma in September of 2017.  While it's true that many "investors" flooded the Keys, hoping to buy damaged properties from desperate sellers at bargain prices, many of the homes in the Upper Keys suffered little to minor damage during the storm. Still, many long-time residents chose to leave the Keys permanently.

So far, 2019 has not been as intense as 2018. Investors looking for deals have left to look in other storm damaged areas, such as the Florida Panhandle after Hurricane Michael struck.  Open water home and canal front homes saw a slight reduction in prices, particularly open water homes.

Click to enlarge - Properties MM 70 to MM106

Non-waterfront single family homes is currently one of the most active segments of the market. Often, non-waterfront homes are in neighborhoods with a community boat ramp, making access to boating right from your own neighborhood easy and convenient.

Click to enlarge - Properties MM 70 to MM106

Condominiums have also seen an increase in interest from buyers. Condos appeal to many buyers because they have everything a buyer is looking for - pool, tennis, security, etc. They are also easier to use as a vacation rental unit than a single family home, since most neighborhoods of single family homes restrict the minimum length of legal rentals to be 28 days or longer. But many condos can offer weekly or even daily rentals, making for more potential rental income.

What will the next quarter of 2019 look like compared to 2018. Time will tell, but I believe the market will do fine.

**  The data here is for properties located in the Upper Florida Keys - from Mile Marker 70 to Mile Marker 106 - and is an average of all sales. Each group encompasses a variety of homes, from luxury homes to basic construction. Properties sold both above and below the averages sales prices shown here.

With the ever rising popularity of smart devices such as Amazon's Echo and Alexa, in addition to in-home video surveillance systems, owners of homes on the market may be able to listen in, or even watch, while you tour their home.

Sellers could be listening or watching to see what your reactions and comments are about their home.   Even remarks that you may think are harmless can be used against you.

For instance, if you gush about how much you love the house and can't wait to buy it, that seller will most likely be less inclined to negotiate the price with you, since they know you love it and have to have it.

But what about privacy?

In many ways, when you open your private home to the public, it can be similar to a shopping mall, restaurant, sports arena or any other public space. Allowing the public in can change the dynamics in terms of strength and amount of rights you may or may not have.

Many agents argue that homes that have such devices installed should include a notice or sign indicating that there are recording devices present. Currently, there are no laws that require such notice.

In the meantime, use caution when viewing homes. Sure, you can discuss things with your agent, but be sure to keep them neutral. Leave the serious talk about writing offers or how much you're willing to pay until you are in a place where you know the seller won't be listening.

Buyers looking for an affordable way to purchase a home often consider buying one that needs updating or possibly even a complete remodel. Before you make that leap into the work of remodeling a home, consider these 3 points.

1 ~ Know the Local Zoning and Building Regulations.  That charming Conch cottage built back in the 40's certainly carries a lot of nostalgia and Keys history, but your dream of expanding it and turning it into a spacious new home won't be easy.  Many of the ground level cottages built in the 40's, 50's and even 60's are built below base flood plain elevation. That will make it difficult, if not totally impossible to add on to it, since you will not be given permits to expand the home at its current elevation.  It may also cost more to insure with flood insurance.


2 ~ Price Building Supplies and Contractors You Will Need Locally.  There's a saying that Paradise isn't cheap. The cost of building supplies and even labor can be quite different than what you may be used to paying back home. The Keys don't have but two Home Depots that serve the entire island chain from Key Largo to Key West. Many areas of the Florida Keys are still completing repairs from Hurricane Irma, and finding contractors can be challenging and expensive.


3 ~ Don't Skip Inspections Because You'll Be Remodeling Anyway.  It may be tempting to skip the inspection period, especially if you're planning on tearing out a kitchen or bathroom. But having an inspection may bring to light issues in areas of the home you weren't planning on changing. You don't want to start taking out a kitchen or bath only to find that the plumbing or electrical systems are inadequate. Having an inspection will look at the whole house, and can help you decide if you plans will even work once you've purchased.

Finding an older home and making it your dream home is possible, but be sure to keep an open mind and work on the project knowing the facts before you purchase.

Not all condos in the Keys are created alike . . .
 
One of the biggest downside I hear from condo buyers is that many units feel like a box, with limited floorplans.

Not so at Ocean Harbour.  These units have unique floorplans, and are some of the most spacious units in the Upper Keys.  With two bedroom, three bedroom and even four bedroom units, these units break the norm and feel like a luxury home.

But it's not just the units that are so attractive. The grounds are immaculate. The grounds consist of beautiful, lush green spaces, a large free-form swimming pool, a marina and boat ramp, an oceanfront clubhouse, a private gym, large oceanfront tiki with BBQ area and covered parking.


Tucked away in a private and gated community off The Old Road, these units all have endless Ocean views and views of the grounds. They feature large kitchens and master bedrooms with ocean views, a private master bath and a dressing are with walk-in closet.

Located in Islamorada, Ocean Harbour is close to everything you'll need in terms of restaurants, shopping, medical needs, etc.

Learn more about Ocean Harbour at www.OceanHarbourIslamorada.com.

The Florida Keys have long been known as an ideal destination in South Florida, either as a place to vacation or a place to live full-time.

The perception is that most places to live in the Keys are out of reach for many buyers. While it is true that the Keys are home to some of the most expensive real estate in South Florida, there are also places you can find for under $250,000.

Here is a list of all the properties in the Keys, from Key West to Key Largo. Many of them are condos, but there are also some single family homes.

Which one interests you?

Click Here to View the Properties

This one is priced to sell!

Sure, a lot of ads say that, but I really do believe this one is an excellent value. 

Located in a popular Upper Keys neighborhood, this home has 2 bedrooms and 1.5 baths on the upper level and 2 bedrooms and 1 bath on the lower level.

It is nicely updated, has impact windows and doors and a metal roof. Ocean views are yours to enjoy from the covered porch just off the main living area.

As for boating, it is ideal. Just off the ocean for immediate ocean access, and near Tavernier Creek for easy Bay access. There is even your own cut-in boat slip and boat ramp along with davits.

Priced at just $675,000, this home will be under contract soon.  Call today for a showing.

It's no secret that the Florida Keys are home to some of the most breathtaking island homes.

The top ten luxury listings in the Florida Keys include open water homes overlooking either the Atlantic Ocean or Florida Bay, private compounds with multiple homes and even a private offshore island.

Here is a list of the top ten luxury homes currently listed in the Multiple Listing Service (MLS). These magnificent estate homes are located throughout the entire island chain, from Key Largo to Key West.

Dream a little . . . . .

Click here to see the listings