Destination resort areas such as the keys
A few great examples of destination resort places are Key West and the Florida Keys, just like any ski location What makes the Florida Keysa premier resort area is the fact it provides visitors a year round vacation spot. While the truth is that Nassau, like Key West are cruise destinations, Key West and to a lesser degree, the rest of the Keys have incredible sightseeing year-round.
For Big Pine Key Real Estate check out Ruth Hemp at http://www.lowerkeysagent.com
The Key advantage Key West and the Keys have to offer is they operate year long. The Keys have various periods as far as visitors come to mind but the services can be experienced all year. From June, the summer time kicks in right up until Labour Day. However, if you walked on the pavement of Key West in the “off seasons” you couldn’t fail to notice vacationers getting snapshots, sportfishing off the boat dock or enjoying the points of interest and sounds of old Key West. Cruise lines generally make port year round in Key West, probably to a greater degree than even Nassau.
For Summerland Key Real Estate look at Kathleen or Tommy Gomez at http://www.islandpals.com
Other Keys Holiday Resort Areas
For Lower Keys Commercial Real Estate as well as Residential contact RJ Albritton at http://www.lowerkeyshomes4sale.com
Never to be forgotten about are the other Keys locations for example Islamorada, one of the top angling areas on earth. That’s a one hour drive to your air-port. Key West has a small but quite busy airport accommodating people from across the world. 1 primary benefit that islamorada provides, is it's great water sports of angling and snorkeling.
There are many locations well worth bringing up within the Keys, especially Key Largo, featuring a proximity to Miami, great diving and fishing. Certainly, Marathon and a few of the lesser known Keys are definitely worthwhile considering as investment opportunities which also offers an proprietor a great place to stay while not rented. Key West however remains to be the main desired destination place and also the location everybody want's to see.
Saturday, May 14, 2011
Monday, April 04, 2011
Green Tips for selling a Keys home
What green tips am i able to do for my property?
1. Use cost effective solar exterior lights. Solar power lights doesn't need electric cabling, there aren't any extra costs for your utility bill and you will probably move the lights anywhere needed. Solar lighting greatly enhance the appearance of walk ways, landscape designs and safety.
2. Develop a Environmentally friendly Landscaping. Pesticide sprays, eco-friendly fertilizer, sprinkling and time all take their cost for the natural environment along with your efforts and budget. Growing indigenous vegetation, utilizing reprocessed thick mulch and organic manure or pest management minimizes the period of time and necessary to keep the yard looking great.
3. Use alternate products. Think about all-natural rock, bamboo bedding or any other environmentally friendly floor coverings rather than carpets. It's the same with the exterior of your property, rock along with other environmentally friendly building products frequently need much less upkeep, painting along with other continuing expenses.
4. Set up money saver home appliances. There are other options than ever before with regards to energy-efficient home appliances created to conserve money and time.
5. Weather-proof your property. It makes use of much less heating in winter season and much less ac in summer season to keep comfy.
6. Check plumbing related for leakages yearly. Even little leakages can soon add up to a sizable loss and price , and without knowing it.
7. Use automated electronic timers for the lights, heating and air cooling and hot water heater rather than leaving them on all day or night
1. Use cost effective solar exterior lights. Solar power lights doesn't need electric cabling, there aren't any extra costs for your utility bill and you will probably move the lights anywhere needed. Solar lighting greatly enhance the appearance of walk ways, landscape designs and safety.
2. Develop a Environmentally friendly Landscaping. Pesticide sprays, eco-friendly fertilizer, sprinkling and time all take their cost for the natural environment along with your efforts and budget. Growing indigenous vegetation, utilizing reprocessed thick mulch and organic manure or pest management minimizes the period of time and necessary to keep the yard looking great.
3. Use alternate products. Think about all-natural rock, bamboo bedding or any other environmentally friendly floor coverings rather than carpets. It's the same with the exterior of your property, rock along with other environmentally friendly building products frequently need much less upkeep, painting along with other continuing expenses.
4. Set up money saver home appliances. There are other options than ever before with regards to energy-efficient home appliances created to conserve money and time.
5. Weather-proof your property. It makes use of much less heating in winter season and much less ac in summer season to keep comfy.
6. Check plumbing related for leakages yearly. Even little leakages can soon add up to a sizable loss and price , and without knowing it.
7. Use automated electronic timers for the lights, heating and air cooling and hot water heater rather than leaving them on all day or night
Florida Keys Schools-Education
The Florida Keys Education-Schools
With a population of just over 73,000 residents, the Florida Keys has about 8,300 students in full time attendance. If you’re contemplating a move to the Keys, there is an assortment of schools and programs within the Monroe County area. In the public school sector there are nine K-8 schools and three high schools. Among private schools you can find 27 assorted academies and religious based schools scattered throughout the islands.
The students within the Florida Keys educational system in general, have fared very much better than average on the FCATs (Florida Comprehensive Assessment Test - administered to students in grades 3 through 11) and other educational rankings criteria. In fact, the FCAT scores for Florida Keys students were among the very highest within the state.
Additionally, there are three college level institutions: Florida Keys Community College, Barry University (extension campus) and Hodges University (extension campuses) all offering various courses of study located in Key West, Marathon and Key Largo.
The courses of study include one and two year certifications for diplomas, vocational training and up to and including bachelors and masters degree programs. If one is interested in oceanography and diving, what better place to explore and study that science than in the Keys? Among the advanced course of scientific courses studies of study available are: oceanography marine engineering, diving technology and marine technology. For those out of school, there are numerous adult education and extension courses available for those desiring to further their knowledge and education.
The Florida Keys is an exciting place to learn and study for all ages and aptitudes. Certainly, it’s easy to find all kinds of schools throughout the country , but if you have a choice, why not the Florida Keys?
With a population of just over 73,000 residents, the Florida Keys has about 8,300 students in full time attendance. If you’re contemplating a move to the Keys, there is an assortment of schools and programs within the Monroe County area. In the public school sector there are nine K-8 schools and three high schools. Among private schools you can find 27 assorted academies and religious based schools scattered throughout the islands.
The students within the Florida Keys educational system in general, have fared very much better than average on the FCATs (Florida Comprehensive Assessment Test - administered to students in grades 3 through 11) and other educational rankings criteria. In fact, the FCAT scores for Florida Keys students were among the very highest within the state.
Additionally, there are three college level institutions: Florida Keys Community College, Barry University (extension campus) and Hodges University (extension campuses) all offering various courses of study located in Key West, Marathon and Key Largo.
The courses of study include one and two year certifications for diplomas, vocational training and up to and including bachelors and masters degree programs. If one is interested in oceanography and diving, what better place to explore and study that science than in the Keys? Among the advanced course of scientific courses studies of study available are: oceanography marine engineering, diving technology and marine technology. For those out of school, there are numerous adult education and extension courses available for those desiring to further their knowledge and education.
The Florida Keys is an exciting place to learn and study for all ages and aptitudes. Certainly, it’s easy to find all kinds of schools throughout the country , but if you have a choice, why not the Florida Keys?
Purchasing a home in the Keys after Foreclosure
Should I Consider Purchasing a Home After Foreclosure?
Foreclosures on the market are normally available, regardless of the condition of the economy. Buying a foreclosure might or might not end up being a wise plan of action. Following are things to consider before you take the leap into purchasing a foreclosure.
Is it best to buy a foreclosure or delay the process until the bank or mortgage company has completed their process? Typically you will get a better deal, if you make your purchase during foreclosure. However, you could be truly getting the property "as is" with few, if any, guarantees. Making a proposal after a home becomes an REO (real estate owned) of the lender may cost someone a little more, however, the key owner/lender has more then likely spent some funds in repairing some problems and/or giving the home and property a little TLC to make it more saleable.
Is the property truly a great buy?
Many people mistakenly assume that all foreclosures equate to a bargain purchase. Consider that belief a bit. First, most foreclosures take place on real estate where little equity exists. For example, people owning a home worth $250,000, but having only a $100,000 first mortgage will typically never allow the property to be susceptible to foreclosure. They might be throwing away $155,000 in equity.
Contrast that example with another $250,000 home with a first mortgage balance of $245,000. If you could not afford that home, you might be much more likely to let it go to foreclosure since you are losing little money. You, being the buyer, might need to pay near the FMV (fair market value) of $250,000, even if it were a foreclosed property or home.
Are there any expensive repairs that should be completed before you resell or stay in the property or home?
The nature of home loans may make it faster and easier to purchase a house in great condition for a higher price than to request "rehab" or repair dollars to get integrated to the loan. Often, you may be required to fund major repairs out of your own pocket.
You should find MLS (multiple listing service) listings of similar homes for sale in the same neighborhood as your preferred foreclosure home to compare prices. Is the price of the foreclosure substantially lower than current prices for matching homes? When the price is similar, you may be wiser to buy a house from a professional real estate professional. Should the purchase price for the REO be substantially less than typical FMV for that area, you might have an actual bargain.
Foreclosures on the market are normally available, regardless of the condition of the economy. Buying a foreclosure might or might not end up being a wise plan of action. Following are things to consider before you take the leap into purchasing a foreclosure.
Is it best to buy a foreclosure or delay the process until the bank or mortgage company has completed their process? Typically you will get a better deal, if you make your purchase during foreclosure. However, you could be truly getting the property "as is" with few, if any, guarantees. Making a proposal after a home becomes an REO (real estate owned) of the lender may cost someone a little more, however, the key owner/lender has more then likely spent some funds in repairing some problems and/or giving the home and property a little TLC to make it more saleable.
Is the property truly a great buy?
Many people mistakenly assume that all foreclosures equate to a bargain purchase. Consider that belief a bit. First, most foreclosures take place on real estate where little equity exists. For example, people owning a home worth $250,000, but having only a $100,000 first mortgage will typically never allow the property to be susceptible to foreclosure. They might be throwing away $155,000 in equity.
Contrast that example with another $250,000 home with a first mortgage balance of $245,000. If you could not afford that home, you might be much more likely to let it go to foreclosure since you are losing little money. You, being the buyer, might need to pay near the FMV (fair market value) of $250,000, even if it were a foreclosed property or home.
Are there any expensive repairs that should be completed before you resell or stay in the property or home?
The nature of home loans may make it faster and easier to purchase a house in great condition for a higher price than to request "rehab" or repair dollars to get integrated to the loan. Often, you may be required to fund major repairs out of your own pocket.
You should find MLS (multiple listing service) listings of similar homes for sale in the same neighborhood as your preferred foreclosure home to compare prices. Is the price of the foreclosure substantially lower than current prices for matching homes? When the price is similar, you may be wiser to buy a house from a professional real estate professional. Should the purchase price for the REO be substantially less than typical FMV for that area, you might have an actual bargain.
Diving in the Florida Keys
Dive Dive, Dive! …But do it in the Keys!
If you’re an outdoors men (or woman) with a love of nature, warm clear waters and sea life in abundance, then the Florida Keys is one of the best and most economical diving vacations that you can experience. The Keys stretches for almost 120 miles into the clear waters of the Gulf of Mexico starting at Key Largo (roughly 40 miles from Miami) all the down way to Key West. World class diving is available along the south side of most of the island chain. Whether your preference is snorkeling or SCUBA, the Keys can deliver. Easily accessible by rental boat or any of a number of licensed expert dive operators, there is so much to explore in the under water world of the Keys.
Among the best known areas is Key Largo’s John Pennekamp State park, featuring glass bottom boat rides, snorkeling/SCUBA and incredible sea life. Further to the west is Islamorada offering terrific wreck diving and reefs. Marathon located 50 miles further west has excellent wreck dives plus Sombrero Reef, just off the Sombrero Key lighthouse. Key West has the Inner Reefs, the Outer Reefs and numerous wreck dives, to boot. If you’re a bit more adventurous, you voyage70 miles further west off to the Dry Tortugas (Ft. Jefferson National Monument). There is excellent diving, as well as fishing in the gin clear, pristine waters.
Diving is absolutely breathtaking anywhere on the 120 mile stretch of the keys. You can explore new reefs, maybe find new wrecks, but in the end, you can make the Keys a ‘must go’ dive adventure every year.
If you’re an outdoors men (or woman) with a love of nature, warm clear waters and sea life in abundance, then the Florida Keys is one of the best and most economical diving vacations that you can experience. The Keys stretches for almost 120 miles into the clear waters of the Gulf of Mexico starting at Key Largo (roughly 40 miles from Miami) all the down way to Key West. World class diving is available along the south side of most of the island chain. Whether your preference is snorkeling or SCUBA, the Keys can deliver. Easily accessible by rental boat or any of a number of licensed expert dive operators, there is so much to explore in the under water world of the Keys.
Among the best known areas is Key Largo’s John Pennekamp State park, featuring glass bottom boat rides, snorkeling/SCUBA and incredible sea life. Further to the west is Islamorada offering terrific wreck diving and reefs. Marathon located 50 miles further west has excellent wreck dives plus Sombrero Reef, just off the Sombrero Key lighthouse. Key West has the Inner Reefs, the Outer Reefs and numerous wreck dives, to boot. If you’re a bit more adventurous, you voyage70 miles further west off to the Dry Tortugas (Ft. Jefferson National Monument). There is excellent diving, as well as fishing in the gin clear, pristine waters.
Diving is absolutely breathtaking anywhere on the 120 mile stretch of the keys. You can explore new reefs, maybe find new wrecks, but in the end, you can make the Keys a ‘must go’ dive adventure every year.
Sunday, March 06, 2011
Vacationing in the Florida Keys
A World Away – Vacationing in the Florida Keys
The Florida Keys offer many of the same laid back characteristics as the Caribbean, without ever leaving the United States. Amazing sunsets and a free spirited attitude all contribute to the laid back atmosphere of the Keys.
There are many activities to do, like sport fishing, scuba diving and snorkeling, boating, sailing, kayaking and eco-tours. Each island destination has its own special features. These islands are also rich in culture and history with many galleries, restaurants, festivals, music and theater to visit and check out. Of course, just relaxing is always an option throughout the Keys as well.
The Keys span about 120 miles and are connected by bridges and causeways, running south west from Miami. This area has the only living-coral barrier reef in the United Stares and is approximately 5 miles off shore and runs the entire length of the Keys.
The first island in the Florida Keys is Key Largo. Being close to the Everglades National park, there is much wildlife to be seen here. It is a popular destination for kayakers and bird watchers. There are many amazing scuba diving or snorkeling sites in Key Largo as well, with many sunken wrecks in the area. The John Pennekamp Coral Reef State Park is located here and offers scuba and snorkeling tours, glass bottom boat tours and swimming in the Florida Keys National Marine Sanctuary. In 2002, the navy ship, the USS Spiegel Grove was sunk to provide a reef here and a sunken wreck for divers to explore.
The next island in the chain is Islamorada. It is comprised of six islands including Plantation Key, Windley Key, Upper Matecumbe Key, Lower Matecumbe Key and the offshore islands of Indian Key and Lignumvitae Key. This area is well known for its world class sport fishing. There are many fishing tournaments held here each season.
Marathon Key is in the middle of the Florida keys. It is famous for the Seven Mile Bridge, which links it to the Lower Florida Keys. You will find great shopping and many fine restaurants offering fresh seafood. At Crane Point Museum, there is one of the last untouched tropical hardwood hammocks in the Florida Keys.
Big Pine Key is known for its boating tours and for bird watching and fishing. The diving and snorkeling is great here too. It is a quiet region of small resorts, home-style restaurants, vacation homes and untouched natural areas.
The last of the Florida Keys is Key West. There are many festivals, shopping and restaurants. Boat tours provide a great way to view Key West from the water. The snorkeling and diving are renowned here to see a diverse array of marine life. Wrecks and reefs, both artificial and natural coral, are home to hundreds of species of tropical and game fish. Many visitors rent a bicycle or go on walking tours to explore the history and architecture of Old Town Key West.
So if you are into eco-tourism, scuba diving or snorkeling, shopping and dining, or just want to relax in a tropical paradise, the Florida Keys may be the destination for you.
The Florida Keys offer many of the same laid back characteristics as the Caribbean, without ever leaving the United States. Amazing sunsets and a free spirited attitude all contribute to the laid back atmosphere of the Keys.
There are many activities to do, like sport fishing, scuba diving and snorkeling, boating, sailing, kayaking and eco-tours. Each island destination has its own special features. These islands are also rich in culture and history with many galleries, restaurants, festivals, music and theater to visit and check out. Of course, just relaxing is always an option throughout the Keys as well.
The Keys span about 120 miles and are connected by bridges and causeways, running south west from Miami. This area has the only living-coral barrier reef in the United Stares and is approximately 5 miles off shore and runs the entire length of the Keys.
The first island in the Florida Keys is Key Largo. Being close to the Everglades National park, there is much wildlife to be seen here. It is a popular destination for kayakers and bird watchers. There are many amazing scuba diving or snorkeling sites in Key Largo as well, with many sunken wrecks in the area. The John Pennekamp Coral Reef State Park is located here and offers scuba and snorkeling tours, glass bottom boat tours and swimming in the Florida Keys National Marine Sanctuary. In 2002, the navy ship, the USS Spiegel Grove was sunk to provide a reef here and a sunken wreck for divers to explore.
The next island in the chain is Islamorada. It is comprised of six islands including Plantation Key, Windley Key, Upper Matecumbe Key, Lower Matecumbe Key and the offshore islands of Indian Key and Lignumvitae Key. This area is well known for its world class sport fishing. There are many fishing tournaments held here each season.
Marathon Key is in the middle of the Florida keys. It is famous for the Seven Mile Bridge, which links it to the Lower Florida Keys. You will find great shopping and many fine restaurants offering fresh seafood. At Crane Point Museum, there is one of the last untouched tropical hardwood hammocks in the Florida Keys.
Big Pine Key is known for its boating tours and for bird watching and fishing. The diving and snorkeling is great here too. It is a quiet region of small resorts, home-style restaurants, vacation homes and untouched natural areas.
The last of the Florida Keys is Key West. There are many festivals, shopping and restaurants. Boat tours provide a great way to view Key West from the water. The snorkeling and diving are renowned here to see a diverse array of marine life. Wrecks and reefs, both artificial and natural coral, are home to hundreds of species of tropical and game fish. Many visitors rent a bicycle or go on walking tours to explore the history and architecture of Old Town Key West.
So if you are into eco-tourism, scuba diving or snorkeling, shopping and dining, or just want to relax in a tropical paradise, the Florida Keys may be the destination for you.
Key Largo Recreation-Fishing for sharks
Shark Fishing on Reel Chaos Charters in Key Largo
Andrew and his lady joined us aboard the Reel Chaos (www.reelchaoscharters.com) for a day of fishing. Andrew's lovely lady hooked this fish and had a blast brining it in. As usual this fish was CPR'd, Captured, Photographed, and Released.
Key Largo Fishing for Grouper
Key Largo Cargo - SHALLOW GROUPER
Capt. Blair battles grouper in 3 feet of water with Capt. Tadd Vandemark on this episode of Addictive Fishing. More info: addictivefishing.blogspot.com
Thursday, February 24, 2011
How can I select a luxury home builder during my area?
Selecting a luxury home builder to construct your luxury house is one of the most critical decision within the entire process of creating a new home. You will need to obtain references from each potential builder. Call their references to ascertain how well the whole process was handled. Did the builder return calls promptly? Was the builder reasonable about change orders? Did the builder interject ideas about materials and finish products and did he complete on time?
After polling references, it's take a candid consider the builder's workmanship and finished products. Builders have a tendency to adapt a signature design or personality inside their product. Don't expect a builder who favors tile roofs and stucco to create a Georgian mansion. Determine the builder's expertise and stick with his true skill.
Don't be lured to "save money" using a builder who's eager to enter in the luxury home building market. Cutting cost with a brand new builder just isn't advisable. The money you think you are saving costs more in errors and delays.
Finally, new homes need to have a comprehensive inspection performed ahead of finalizing the documentation. Most people consider inspections for previously built homes, but issues with new homes do arise. Use a good inspector even though creating a new luxury home!
After polling references, it's take a candid consider the builder's workmanship and finished products. Builders have a tendency to adapt a signature design or personality inside their product. Don't expect a builder who favors tile roofs and stucco to create a Georgian mansion. Determine the builder's expertise and stick with his true skill.
Don't be lured to "save money" using a builder who's eager to enter in the luxury home building market. Cutting cost with a brand new builder just isn't advisable. The money you think you are saving costs more in errors and delays.
Finally, new homes need to have a comprehensive inspection performed ahead of finalizing the documentation. Most people consider inspections for previously built homes, but issues with new homes do arise. Use a good inspector even though creating a new luxury home!
How to Attract Customers to Your Home
You could possibly be one of all those individuals who are considering advertising their property. If this is accurate, this write-up can help call to mind a number of problems that you have to do ahead of you placing your property around the marketplace. Everyone knows that attractive plants are attractive and this is one thing you ought to consider about your property. What are a few issues that that can be done to make the property much more attractive to prospective customers?
Prior to nearly anything else, you have to find out the developments about the real estate in your area. You can usually get a free property evaluation from a real estate broker or an individual on the internet. This gives you to consider a beneficial look at what your property could be well worth. You can also have a look at other listings of houses that have not too long ago sold in the same area. A residence always is much more attractive if you have a price edge that retains it marketplace competitive.
In addition, work to make certain your property is attractive to look at. It has to make a great initial influence so you need to stage this in a way that would certainly makes it most attractive for almost any prospective buyers. To do this, you can even do some re-designing that does not truly cost a lot of money. Even if they're cheap, several remodelling work can really alter the way your house looks. For example, mow the actual lawn, trim the shrubs, and put a few plants at home. This will give it a look associated with freshness and definately will dramatically improve its appearance.
When it comes to the interior of the house, you are able to improve its ambience through putting in new curtains as well as upholstery. Somewhat greenery inside the house if you use indoor plants will really jazz up the whole region. You can also reap the benefits of having good lighting. You do not need to spend a lot of money; just some minor changes might do.
Prior to nearly anything else, you have to find out the developments about the real estate in your area. You can usually get a free property evaluation from a real estate broker or an individual on the internet. This gives you to consider a beneficial look at what your property could be well worth. You can also have a look at other listings of houses that have not too long ago sold in the same area. A residence always is much more attractive if you have a price edge that retains it marketplace competitive.
In addition, work to make certain your property is attractive to look at. It has to make a great initial influence so you need to stage this in a way that would certainly makes it most attractive for almost any prospective buyers. To do this, you can even do some re-designing that does not truly cost a lot of money. Even if they're cheap, several remodelling work can really alter the way your house looks. For example, mow the actual lawn, trim the shrubs, and put a few plants at home. This will give it a look associated with freshness and definately will dramatically improve its appearance.
When it comes to the interior of the house, you are able to improve its ambience through putting in new curtains as well as upholstery. Somewhat greenery inside the house if you use indoor plants will really jazz up the whole region. You can also reap the benefits of having good lighting. You do not need to spend a lot of money; just some minor changes might do.
Friday, February 04, 2011
Buying a waterfront home in the Keys
Buying a waterfront home in the Keys
First off, congratulations at looking to the Keys for a possible vacation home. The good news about the Keys from an investment angle are: There is only so much waterfront or Coastal property available. The Keys have strict environmental laws that affect building permits. This means there are only so many homes and always will be a limited number of homes here. One big reason for this is there is just ONE Highway in and out of the Keys. (US1) If there is an emergency, people need to have the ability to leave quickly and so for this reason alone, the Keys will never be California. The other main environmental consideration is the water quality. The Keys main attraction are water sports and Monroe County is going to make sure that our waters are clean and usable. To consider when purchasing any waterfront vacation home and how the Keys measure up: Is there a view? Views really do matter. An unobstructed Ocean view adds as much as 60% to the value of a home per the Journal of Real Estate Finance and Economics. Proximity to Golf courses or a park can add as much as 20% to a homes value. This is per an article by a much published author named Soren Anderson, a writer from Manchester College. Consider the recreational activities… The What and the When. For example in a Ski resort area, your options are limited due to weather considerations and the total amount of activities available is definitely less. *In the Keys, about the only thing you cannot do year round are mountain climbing and white water rafting. Boating access and controlling depth Is there direct boating access on the property? If so, how large a boat can you have behind the home? This is determined by what we in the Keys call controlling draft or depth. For example: If a boat is under 30ft in most cases 3 ft draft is OK. Draft means...what is the lowest water depth you have to go through to get to open or deep water.If you have a sailboat or 50 ft boat you will need deeper draft such as 5ft. Now..obviously if you have a 50 ft sailboat behind your home, the canals or waterways have to provide you with turn-around room. If the access is deep draft, then expect prices to go up. If there is no water acess at the home or the draft is for kayaks only, in most cases expect a drop in price. If there is no direct water access...how far is the nearest boat ramp or is there a boat slip available? If so, is it included and what is the draft out of the boat slip. So the boating issue has a very direct effect on pricing here. Neighborhoods with bigger canals and deep draft boating are generally home to the Million dollar and plus homes. Nearby Medical and shopping options These are very important considerations. If there is an accident, how far away is a hospital? In the Upper Keys we have Baptist hospital in Tavernier which is an excellent option. If you need groceries or restaurants, what is nearby? Oftentimes vacation properties can be secluded and don’t offer easy access to the above. At first being remote can seem as desirable, but in the end it can grow old quickly. This also affects home values by the way. If you can have the vacation feel and recreation, yet have amenities nearby, the prices go up. On thing about the upper Keys is that Miami and South Beach are just about an hour away and World famous Key West, 2 hours. How much room do you need? If you own a home with nearby recreation and sightseeing, expect people to come out of the woodwork. Everyone will be your friend. Larger homes, with more bedrooms, a 3/2 and up always rent better. So if you can, get a home with extra space. Type of Construction or is it built to last. The age of the home will determine the building code that it was built to. In the Keys newer homes have to be built to strict specs as to wind handling characteristics. Also, look for low maintenance homes. Lots of homes in the Keys are made of concrete block and have pea-rock for yards and the outside is stucco over concrete or frame. This means lower maintenance, which is very important for an absentee owner. Finding renters Does the home have good rental potential and is there local rental management available? This is a very important consideration, both for long term and short term vacation rentals. Remember, even if you don’t want to rent, this can be an important consideration for a future buyer or if your situation changes. Home maintenance. Are there nearby electricians, plumbers, appliance stores and general contractors. If anything does happen, the prices to have things repaired or replaced will be less if there is competition and service people are nearby. Check with the REALTOR you are talking with to get a Vendor list of who the Real Estate company uses to service their rentals and offices. Rules and Regulations Make sure you are clear on and have copies of any deed restrictions or condo docs as to what is allowed and what is not. Too many rules can be appetizing for some but a turnoff for future buyers. For example if you have children who will want to use the property in the future as a college break, lots of communities can prohibit it. In conclusion, the upper Keys offer good investment potential from an appreciation aspect and income potential from renters. Regarding Appreciation. Because Miami and Ft Lauderdale are a short drive away, people there look to the Keys as a getaway. Think New York and the Jersey shore. We sell a majority of homes to people from these areas. Income potential. About 50% of the vacation renters in the Keys are from Florida. They come here because the Keys are a completely different experience. This means as Florida grows (it is on pace to be the 2nd largest state in the USA by 2010) we will have more people looking to vacation here. This will drive prices up and make rental occupancy rates climb even more.
Getting a desirable mortgage for buying a dream home is what everyone wishes for. A home is like any other product available in the market. So when shopping for a home mortgage prices and terms may be negotiable. When it comes to buying a home, a borrower has to overcome many financial obstacles. This is where home mortgage comes in. For more information visit this site and take help from the specialist here.
Fran Herbenick
REALTOR®
Coldwell Banker Schmitt
100430 Overseas Highway,
Key Largo, 33037
Phone Numbers:
305-453-7527
Mobile Number: 305-304-6334
Fax: 305-451-1220
Website
First off, congratulations at looking to the Keys for a possible vacation home. The good news about the Keys from an investment angle are: There is only so much waterfront or Coastal property available. The Keys have strict environmental laws that affect building permits. This means there are only so many homes and always will be a limited number of homes here. One big reason for this is there is just ONE Highway in and out of the Keys. (US1) If there is an emergency, people need to have the ability to leave quickly and so for this reason alone, the Keys will never be California. The other main environmental consideration is the water quality. The Keys main attraction are water sports and Monroe County is going to make sure that our waters are clean and usable. To consider when purchasing any waterfront vacation home and how the Keys measure up: Is there a view? Views really do matter. An unobstructed Ocean view adds as much as 60% to the value of a home per the Journal of Real Estate Finance and Economics. Proximity to Golf courses or a park can add as much as 20% to a homes value. This is per an article by a much published author named Soren Anderson, a writer from Manchester College. Consider the recreational activities… The What and the When. For example in a Ski resort area, your options are limited due to weather considerations and the total amount of activities available is definitely less. *In the Keys, about the only thing you cannot do year round are mountain climbing and white water rafting. Boating access and controlling depth Is there direct boating access on the property? If so, how large a boat can you have behind the home? This is determined by what we in the Keys call controlling draft or depth. For example: If a boat is under 30ft in most cases 3 ft draft is OK. Draft means...what is the lowest water depth you have to go through to get to open or deep water.If you have a sailboat or 50 ft boat you will need deeper draft such as 5ft. Now..obviously if you have a 50 ft sailboat behind your home, the canals or waterways have to provide you with turn-around room. If the access is deep draft, then expect prices to go up. If there is no water acess at the home or the draft is for kayaks only, in most cases expect a drop in price. If there is no direct water access...how far is the nearest boat ramp or is there a boat slip available? If so, is it included and what is the draft out of the boat slip. So the boating issue has a very direct effect on pricing here. Neighborhoods with bigger canals and deep draft boating are generally home to the Million dollar and plus homes. Nearby Medical and shopping options These are very important considerations. If there is an accident, how far away is a hospital? In the Upper Keys we have Baptist hospital in Tavernier which is an excellent option. If you need groceries or restaurants, what is nearby? Oftentimes vacation properties can be secluded and don’t offer easy access to the above. At first being remote can seem as desirable, but in the end it can grow old quickly. This also affects home values by the way. If you can have the vacation feel and recreation, yet have amenities nearby, the prices go up. On thing about the upper Keys is that Miami and South Beach are just about an hour away and World famous Key West, 2 hours. How much room do you need? If you own a home with nearby recreation and sightseeing, expect people to come out of the woodwork. Everyone will be your friend. Larger homes, with more bedrooms, a 3/2 and up always rent better. So if you can, get a home with extra space. Type of Construction or is it built to last. The age of the home will determine the building code that it was built to. In the Keys newer homes have to be built to strict specs as to wind handling characteristics. Also, look for low maintenance homes. Lots of homes in the Keys are made of concrete block and have pea-rock for yards and the outside is stucco over concrete or frame. This means lower maintenance, which is very important for an absentee owner. Finding renters Does the home have good rental potential and is there local rental management available? This is a very important consideration, both for long term and short term vacation rentals. Remember, even if you don’t want to rent, this can be an important consideration for a future buyer or if your situation changes. Home maintenance. Are there nearby electricians, plumbers, appliance stores and general contractors. If anything does happen, the prices to have things repaired or replaced will be less if there is competition and service people are nearby. Check with the REALTOR you are talking with to get a Vendor list of who the Real Estate company uses to service their rentals and offices. Rules and Regulations Make sure you are clear on and have copies of any deed restrictions or condo docs as to what is allowed and what is not. Too many rules can be appetizing for some but a turnoff for future buyers. For example if you have children who will want to use the property in the future as a college break, lots of communities can prohibit it. In conclusion, the upper Keys offer good investment potential from an appreciation aspect and income potential from renters. Regarding Appreciation. Because Miami and Ft Lauderdale are a short drive away, people there look to the Keys as a getaway. Think New York and the Jersey shore. We sell a majority of homes to people from these areas. Income potential. About 50% of the vacation renters in the Keys are from Florida. They come here because the Keys are a completely different experience. This means as Florida grows (it is on pace to be the 2nd largest state in the USA by 2010) we will have more people looking to vacation here. This will drive prices up and make rental occupancy rates climb even more.
Getting a desirable mortgage for buying a dream home is what everyone wishes for. A home is like any other product available in the market. So when shopping for a home mortgage prices and terms may be negotiable. When it comes to buying a home, a borrower has to overcome many financial obstacles. This is where home mortgage comes in. For more information visit this site and take help from the specialist here.
Fran Herbenick
REALTOR®
Coldwell Banker Schmitt
100430 Overseas Highway,
Key Largo, 33037
Phone Numbers:
305-453-7527
Mobile Number: 305-304-6334
Fax: 305-451-1220
Website
Upper Fl Keys - Key Largo Properties for sale-Real Estate
Do spectacular sunsets, swaying palm trees,warm weather, kayaking, fishing, snorkeling,diving, biking, sailing, boating, beaches with sparkling sand, beautiful blue ocean water, year round gardening, state parks and island living with a laid back lifestyle appeal to you? If the answer is yes, you might be interested in relocating or investing in The Florida Keys where all these qualities of life exist. You can achieve your dream by purchasing a year round home, a vacation rental property in the form of a single family home, mobile home or condominium or purchasing a second home just for yourself, family and friends to enjoy. Yes, your dream can become a reality.
Fran Herbenick
REALTOR®
Coldwell Banker Schmitt
100430 Overseas Highway,
Key Largo, 33037
Phone Numbers:
305-453-7527
Mobile Number: 305-304-6334
Fax: 305-451-1220
Email Me
Website
Fran Herbenick
REALTOR®
Coldwell Banker Schmitt
100430 Overseas Highway,
Key Largo, 33037
Phone Numbers:
305-453-7527
Mobile Number: 305-304-6334
Fax: 305-451-1220
Email Me
Website
Key Largo Homes for sale:Fran Herbenick
Real Estate Investment: Vacation Home or Condo?
With the historic decline in real estate values, many are wondering, “Which is the best investment, a home or condo?” To be sure, in some parts of Florida, the real estate market for condos is not good. But should one still shy away from a condo investment? The answer, believe it or not is, “Absolutely not!”
The Real Advantages of Condo Ownership in Florida
There are several key advantages that one need consider. There is a key qualifier: the following pertains to properties that are located within coastal/vacation areas.
1. Cost/Return on Investment – Vacation condos in coastal areas that are both South of Tampa and Daytona Beach have an almost year round vacation market. Further north and the weather during the winter months is really too cool to attract tourists. Therefore, given the relatively low upfront cost in purchasing a vacation condo versus a single family home, weekly rental rates for condos are often a net positive cash flow, almost from the outset with a real positive return on investment.
2. Market Size – The market for short term condo rentals in the Florida vacation market is much greater than the market for single family vacation home rentals. The rental rates are much lower and the probability of keeping a condo rented on a continuing basis is much greater, because in the current market, fewer can afford the relatively high cost of renting a three or four bedroom home near the beach or waterfront areas.
3. Views – One of the other advantages of a vacation condo is that condominium complexes near the ocean, gulf or in the Florida Keys usually have better views than would a moderately priced single family home in the same area. In other words, it is significantly less expensive to purchase a condo with a “decent” view than a single family home with the same view.
4. Condo House Keeping Cost – Typically, in mid sized to large condominium complexes that are rented to vacationers, it’s relatively simple to find reputable and dependable individuals to perform cleanup services after a one or two week vacation stay. Also, the clean up cost of a typical condo is a fraction of what it might cost to perform the same services on a single family rental home.
5. Facilities – A key advantage of a condominium over a single family home is that because there are so many units sharing the cost of all the facilities (a pool, recreation room, and work out room, etc.) the number and quality of facilities usually far exceeds that which might be found in a typical single family home.
6. Ease of Management – If one buys a condo situated in one of the Florida vacation destinations and the owner is located in Texas or New York, maintenance problems are an absolute annoyance. Even if the owner is only 15 minutes away, it still is an annoyance. With a condo, often there is an on site manager who normally handles a vacationer’s problems, like a jammed toilet or sink. Also, local maintenance companies can be contracted to respond to a problem when summoned by a tenant resolving the problem without ever bothering the owner.
7. Ultimate Sale of a Condominium – As mentioned above the market for vacation condos to purchase is significantly larger than the market for single family vacation homes. When an owner of a condo elects to sell his property after having owned it, it is certainly easier to find buyers with the necessary down payment and financial resources to purchase a condominium as opposed to a much more pricey single family vacation home.
Like anything else, doing the background work in purchasing a condominium is of key importance. A potential investor must research the area, the rental history, the condition and the suitability of purchasing whatever condominium in which he might have an interest. Even in today’s market and perhaps, especially in today’s market, a Florida vacation condominium has so many obvious advantages as an investment.
For more information please see http://www.keylargopropertiesforsale.com/
With the historic decline in real estate values, many are wondering, “Which is the best investment, a home or condo?” To be sure, in some parts of Florida, the real estate market for condos is not good. But should one still shy away from a condo investment? The answer, believe it or not is, “Absolutely not!”
The Real Advantages of Condo Ownership in Florida
There are several key advantages that one need consider. There is a key qualifier: the following pertains to properties that are located within coastal/vacation areas.
1. Cost/Return on Investment – Vacation condos in coastal areas that are both South of Tampa and Daytona Beach have an almost year round vacation market. Further north and the weather during the winter months is really too cool to attract tourists. Therefore, given the relatively low upfront cost in purchasing a vacation condo versus a single family home, weekly rental rates for condos are often a net positive cash flow, almost from the outset with a real positive return on investment.
2. Market Size – The market for short term condo rentals in the Florida vacation market is much greater than the market for single family vacation home rentals. The rental rates are much lower and the probability of keeping a condo rented on a continuing basis is much greater, because in the current market, fewer can afford the relatively high cost of renting a three or four bedroom home near the beach or waterfront areas.
3. Views – One of the other advantages of a vacation condo is that condominium complexes near the ocean, gulf or in the Florida Keys usually have better views than would a moderately priced single family home in the same area. In other words, it is significantly less expensive to purchase a condo with a “decent” view than a single family home with the same view.
4. Condo House Keeping Cost – Typically, in mid sized to large condominium complexes that are rented to vacationers, it’s relatively simple to find reputable and dependable individuals to perform cleanup services after a one or two week vacation stay. Also, the clean up cost of a typical condo is a fraction of what it might cost to perform the same services on a single family rental home.
5. Facilities – A key advantage of a condominium over a single family home is that because there are so many units sharing the cost of all the facilities (a pool, recreation room, and work out room, etc.) the number and quality of facilities usually far exceeds that which might be found in a typical single family home.
6. Ease of Management – If one buys a condo situated in one of the Florida vacation destinations and the owner is located in Texas or New York, maintenance problems are an absolute annoyance. Even if the owner is only 15 minutes away, it still is an annoyance. With a condo, often there is an on site manager who normally handles a vacationer’s problems, like a jammed toilet or sink. Also, local maintenance companies can be contracted to respond to a problem when summoned by a tenant resolving the problem without ever bothering the owner.
7. Ultimate Sale of a Condominium – As mentioned above the market for vacation condos to purchase is significantly larger than the market for single family vacation homes. When an owner of a condo elects to sell his property after having owned it, it is certainly easier to find buyers with the necessary down payment and financial resources to purchase a condominium as opposed to a much more pricey single family vacation home.
Like anything else, doing the background work in purchasing a condominium is of key importance. A potential investor must research the area, the rental history, the condition and the suitability of purchasing whatever condominium in which he might have an interest. Even in today’s market and perhaps, especially in today’s market, a Florida vacation condominium has so many obvious advantages as an investment.
For more information please see http://www.keylargopropertiesforsale.com/
Saturday, May 24, 2008
Why you should consider investing in the Upper Keys Now.
Why you should consider investing in the Upper Keys Now.
1. Prices in the upper Keys have stabilized and are in fact even better than other destination resort areas in the United States. This includes both residential and commercial Real Estate.
2. Real Estate sales and closings have seen a steady increase in the upper Keys since January 2006. This clearly indicates the buyers are responding to increased inventory choices and competitive pricing.
3. The explosive growth of South Dade County,(just 30 miles away) will definitely benefit Real Estate sales as people look for weekend getaways, (Predictions for the Homestead area and just north are for one million residents by 2010) Think New York and the Jersey shore.
4. Weekenders and potential home buyers from Miami, Ft Lauderdale and Naples will find it even easier and safer to come down weekends for a Keys experience, due to the widening of the 18 mile stretch.
5. The Cost of Living index (stats from Accra) show the Keys now at a better rate then 24 major American markets from the East Coast into California. This means Baby boomers looking for lifestyle changes and/or 1031 and straight investments are finding the Keys competitive and affordable. See the cost of living page
The combination of all this is obvious. The Keys only have so many homes and so much land. Meaning only a small amount of new homes can be built. This is due to the fact there is only one road in or out of here,
Meaning if a hurricane is heading our way, people have to get out.That is why the Keys will never be like California or the Jersey Shore.
As more people move into Southern Florida they definitely use the Keys as a weekend getaway. The majority of our renters are from Florida, who are looking for a Keys experience.
How about going on vacation and never coming back. You know you've had this feeling before. Why don't you consider giving yourself and your family this option. The truth is, if you're going to work, why not do it in the Keys. Having beautiful weather and water and recreational opportunities are not only good for your health but good for you period. Think on it and contact me.
There are affordable options now and renting a home out can be used to help subsidize your payments
PS-I moved here from Oregon 10 years ago. Yes Oregon is beautiful but it rainsssssss all the time. I like waking up to sunshine.
“Remember not making a decision is still a decision!
1. Prices in the upper Keys have stabilized and are in fact even better than other destination resort areas in the United States. This includes both residential and commercial Real Estate.
2. Real Estate sales and closings have seen a steady increase in the upper Keys since January 2006. This clearly indicates the buyers are responding to increased inventory choices and competitive pricing.
3. The explosive growth of South Dade County,(just 30 miles away) will definitely benefit Real Estate sales as people look for weekend getaways, (Predictions for the Homestead area and just north are for one million residents by 2010) Think New York and the Jersey shore.
4. Weekenders and potential home buyers from Miami, Ft Lauderdale and Naples will find it even easier and safer to come down weekends for a Keys experience, due to the widening of the 18 mile stretch.
5. The Cost of Living index (stats from Accra) show the Keys now at a better rate then 24 major American markets from the East Coast into California. This means Baby boomers looking for lifestyle changes and/or 1031 and straight investments are finding the Keys competitive and affordable. See the cost of living page
The combination of all this is obvious. The Keys only have so many homes and so much land. Meaning only a small amount of new homes can be built. This is due to the fact there is only one road in or out of here,
Meaning if a hurricane is heading our way, people have to get out.That is why the Keys will never be like California or the Jersey Shore.
As more people move into Southern Florida they definitely use the Keys as a weekend getaway. The majority of our renters are from Florida, who are looking for a Keys experience.
How about going on vacation and never coming back. You know you've had this feeling before. Why don't you consider giving yourself and your family this option. The truth is, if you're going to work, why not do it in the Keys. Having beautiful weather and water and recreational opportunities are not only good for your health but good for you period. Think on it and contact me.
There are affordable options now and renting a home out can be used to help subsidize your payments
PS-I moved here from Oregon 10 years ago. Yes Oregon is beautiful but it rainsssssss all the time. I like waking up to sunshine.
“Remember not making a decision is still a decision!
Florida keys investment opportunities
Florida Keys Investment opportunities
With all the abundant recreational opportunities mixed in with a great climate the Keys attract people...lots of people.
Tourists in turn need places to stay and people relocating need places to rent either part time or while they close on a home or find an apartment. The Keys are definitely a happening place.
Types of Investments
Aside from commercial investments the two situations most people are looking for in Florida are
• Vacation homes or Condos that can be rented out … Generally a purchase involves a 1031 tax exchange or just someone looking for a second home in an area that he/she or the family will use occasionally.
• A person looking for a home to eventually retire to and rent out in the meantime to help pay the mortgage.
• The best areas to rent are anywhere near the water and the best rents will start at open water locations, followed by homes/condos with a partial view to homes on canals. The neighborhood and the furnishings will also dictate the rent amounts you can get. In the Keys-the best situation was a home at least three bedrooms and up on the Ocean or Gulf with a pool and a boat dock. In some cases these bring as much as $5000.00 per week, depending on the home/area.
• It is very important that you find out early on which residential areas and which condo associations allow weekly rentals-as this will be generally be your best return.
• In some cases you may want to just rent out long term and skip the dealings with handy men and cleaning services.
• In all of this—the most important thing is that you find a qualified agent. He/she can guide you through the process completely—including setting up property management.
As to The Keys and it’s areas-where would the best rentals probably be located?
• *A condo or single family home anywhere on the water-either Ocean or Gulf or a canal and anywhere in the Keys (unless they prohibit vacation rentals. (see below)
• *The rental rates will vary from island to island due to boating depth and neighborhoods, See information below,
• *Key West downtown is seeing strong growth. In short some people are going away from life in the suburbs and opting for closeness to theatre, restaurants and the vitality of a city environment. So, don’t overlook the downtown areas.
Renting your home out as a seasonal (vacation rental)or long term.
Long-term renters are generally easier to find as there is a shortage of homes for rent. So, if you want to buy something for retirement or a vacation home and rent it out to help your payments-this is typically the easiest way. (Long term rentals are considered to be anything over 6 months, as the tenants don't pay the 11.5% Florida tax)
Generally long-term rentals should be unfurnished.
Initially your agent’s company will do a credit check before submitting a lease to you, then with your approval of the lease, they typically collect the first and last months rent plus a security deposit which is typically a months rental amount.
As to utilities-
The tenants generally take the lease to the water, electric, phone and cable people and have the utilities put in their name and of course they pay their own deposits. In most areas of Florida, garbage is included in the tax bill-so there is no separate garbage bill.
• Seasonal rentals.
Most residential areas can only rent monthly or 28 days, meaning the owner can only rent the home out 12 times per year. This means about 5 months of income-Jan-Feb-Mar and July-August. There are some April and June monthlies.
• *Ask your REALTOR if there are any Condos or areas that do allow weekly rentals as this will definitely be your best return.
• As to what is the best rental situation, that is size, which areas, views, pools, how water and boating accessibility affects rental amounts and the typical rental amounts for both long and short term, plus the fees involved, ask your agent.
• As to extra costs and what is necessary to have a Home as a Rental.
• When you rent your home out you generally need to license it through the County. This costs is typically minimal and your agent’s company should be able to handle the paperwork for you.
• The County and the Tax people want the homes licensed so they know where there may be tax dollars coming in. When your home is used as a rental, in effect you are operating the same as a hotel or motel and so they come under their safety guidelines.
• This applies to the Keys but may be the cases statewide:
• Every bedroom and the main living area must have a hardwired smoke detector and there must also be an escape light. This light comes on in case of a power outage-this also must be hardwired. (About $450.00 installed smoke detectors and escape light for a 2/2)
• There also needs to be a professional quality refillable fire extinguisher that is approved by the fire department (about $55.00). This would be the same as you'd find in a restaurant or hotel room. There needs to be a dead bolt on the door that works from the inside and is a different key than the main door. All of these issues help protect your liability in cases of fire/break in.
• When the home complies with all of the above and your agent has a signed contract from you authorizing them as a rental agent, then it can go into the rental pool.
What about Hurricane preparation?
In the event of an impending Hurricane, a handyman or someone else can be hired to put up the storm shutters, bring in the lawn and patio furniture, etc for a fee-most agents have too many homes for them to do it individually.
*This agreement should be set up in advance by the homeowner and the handyman. Your agent can find someone to do this.
What makes a good Vacation Rental
• A clean, well-maintained home on a canal or open water.
• Typically one of the bedrooms should have a set of twin beds if the renters are bringing children.
• Good linens and towels and a backup set. This is especially important for monthly renters.
• The washer, dryer and refrigerator should be newer if possible.
• A good Television hooked up to cable (about $35.00 per month) and a CD or tape stereo system.
• The kitchen must be completely outfitted. A microwave is also very important for renters.
• Patio and/or Lawn-Deck furniture. If there is an upper deck, a table and chairs plus loungers.
• On the waterside, a set of loungers and chairs.
Repeat renters
If the renters have a good experience, they will come back. We see this especially with people that book two to three months a year.
Be sure to check on the Rental laws-what is going on in your area now and what is proposed? These can vary dramatically based on the area.
Always ask your agent!!!!
With all the abundant recreational opportunities mixed in with a great climate the Keys attract people...lots of people.
Tourists in turn need places to stay and people relocating need places to rent either part time or while they close on a home or find an apartment. The Keys are definitely a happening place.
Types of Investments
Aside from commercial investments the two situations most people are looking for in Florida are
• Vacation homes or Condos that can be rented out … Generally a purchase involves a 1031 tax exchange or just someone looking for a second home in an area that he/she or the family will use occasionally.
• A person looking for a home to eventually retire to and rent out in the meantime to help pay the mortgage.
• The best areas to rent are anywhere near the water and the best rents will start at open water locations, followed by homes/condos with a partial view to homes on canals. The neighborhood and the furnishings will also dictate the rent amounts you can get. In the Keys-the best situation was a home at least three bedrooms and up on the Ocean or Gulf with a pool and a boat dock. In some cases these bring as much as $5000.00 per week, depending on the home/area.
• It is very important that you find out early on which residential areas and which condo associations allow weekly rentals-as this will be generally be your best return.
• In some cases you may want to just rent out long term and skip the dealings with handy men and cleaning services.
• In all of this—the most important thing is that you find a qualified agent. He/she can guide you through the process completely—including setting up property management.
As to The Keys and it’s areas-where would the best rentals probably be located?
• *A condo or single family home anywhere on the water-either Ocean or Gulf or a canal and anywhere in the Keys (unless they prohibit vacation rentals. (see below)
• *The rental rates will vary from island to island due to boating depth and neighborhoods, See information below,
• *Key West downtown is seeing strong growth. In short some people are going away from life in the suburbs and opting for closeness to theatre, restaurants and the vitality of a city environment. So, don’t overlook the downtown areas.
Renting your home out as a seasonal (vacation rental)or long term.
Long-term renters are generally easier to find as there is a shortage of homes for rent. So, if you want to buy something for retirement or a vacation home and rent it out to help your payments-this is typically the easiest way. (Long term rentals are considered to be anything over 6 months, as the tenants don't pay the 11.5% Florida tax)
Generally long-term rentals should be unfurnished.
Initially your agent’s company will do a credit check before submitting a lease to you, then with your approval of the lease, they typically collect the first and last months rent plus a security deposit which is typically a months rental amount.
As to utilities-
The tenants generally take the lease to the water, electric, phone and cable people and have the utilities put in their name and of course they pay their own deposits. In most areas of Florida, garbage is included in the tax bill-so there is no separate garbage bill.
• Seasonal rentals.
Most residential areas can only rent monthly or 28 days, meaning the owner can only rent the home out 12 times per year. This means about 5 months of income-Jan-Feb-Mar and July-August. There are some April and June monthlies.
• *Ask your REALTOR if there are any Condos or areas that do allow weekly rentals as this will definitely be your best return.
• As to what is the best rental situation, that is size, which areas, views, pools, how water and boating accessibility affects rental amounts and the typical rental amounts for both long and short term, plus the fees involved, ask your agent.
• As to extra costs and what is necessary to have a Home as a Rental.
• When you rent your home out you generally need to license it through the County. This costs is typically minimal and your agent’s company should be able to handle the paperwork for you.
• The County and the Tax people want the homes licensed so they know where there may be tax dollars coming in. When your home is used as a rental, in effect you are operating the same as a hotel or motel and so they come under their safety guidelines.
• This applies to the Keys but may be the cases statewide:
• Every bedroom and the main living area must have a hardwired smoke detector and there must also be an escape light. This light comes on in case of a power outage-this also must be hardwired. (About $450.00 installed smoke detectors and escape light for a 2/2)
• There also needs to be a professional quality refillable fire extinguisher that is approved by the fire department (about $55.00). This would be the same as you'd find in a restaurant or hotel room. There needs to be a dead bolt on the door that works from the inside and is a different key than the main door. All of these issues help protect your liability in cases of fire/break in.
• When the home complies with all of the above and your agent has a signed contract from you authorizing them as a rental agent, then it can go into the rental pool.
What about Hurricane preparation?
In the event of an impending Hurricane, a handyman or someone else can be hired to put up the storm shutters, bring in the lawn and patio furniture, etc for a fee-most agents have too many homes for them to do it individually.
*This agreement should be set up in advance by the homeowner and the handyman. Your agent can find someone to do this.
What makes a good Vacation Rental
• A clean, well-maintained home on a canal or open water.
• Typically one of the bedrooms should have a set of twin beds if the renters are bringing children.
• Good linens and towels and a backup set. This is especially important for monthly renters.
• The washer, dryer and refrigerator should be newer if possible.
• A good Television hooked up to cable (about $35.00 per month) and a CD or tape stereo system.
• The kitchen must be completely outfitted. A microwave is also very important for renters.
• Patio and/or Lawn-Deck furniture. If there is an upper deck, a table and chairs plus loungers.
• On the waterside, a set of loungers and chairs.
Repeat renters
If the renters have a good experience, they will come back. We see this especially with people that book two to three months a year.
Be sure to check on the Rental laws-what is going on in your area now and what is proposed? These can vary dramatically based on the area.
Always ask your agent!!!!
Monday, July 02, 2007
Buying a waterfront home in the florida keys
To consider when looking at waterfront property
There is only so much waterfront or Coastal property available.
The Keys have strict environmental laws that affect building permits. This means there are only so many homes and always will be a limited number of homes here. One big reason for this is there is just ONE Highway in and out of the Keys. (US1) If there is an emergency, people need to have the ability to leave quickly and so for this reason alone, the Keys will never be California. The other main environmental consideration is the water quality. The Keys main attraction are water sports and Monroe County is going to make sure that our waters are clean and usable.
To consider when purchasing any waterfront vacation home and how the Keys measure up:
Is there a view?
Views really do matter. An unobstructed Ocean view adds as much as 60% to the value of a home per the Journal of Real Estate Finance and Economics. Proximity to Golf courses or a park can add as much as 20% to a homes value. This is per an article by a much published author named Soren Anderson, a writer from Manchester College.
Consider the recreational activities…
The What and the When.
For example in a Ski resort area, your options are limited due to weather considerations and the total amount of activities available is definitely less.
*In the Keys, about the only thing you cannot do year round are mountain climbing and white water rafting.
Boating access and controlling depth
Is there direct boating access on the property? If so, how large a boat can you have behind the home? This is determined by what we in the Keys call controlling draft or depth. For example: If a boat is under 30ft in most cases 3 ft draft is OK. Draft means...what is the lowest water depth you have to go through to get to open or deep water.If you have a sailboat or 50 ft boat you will need deeper draft such as 5ft.
Now ..obviously if you have a 50 ft sailboat behind your home, the canals or waterways have to provide you with turn-around room.
If the access is deep draft, then expect prices to go up. If there is no water access at the home or the draft is for kayaks only, in most cases expect a drop in price.
If there is no direct water access...how far is the nearest boat ramp or is there a boat slip available? If so, is it included and what is the draft out of the boat slip.
So the boating issue has a very direct effect on pricing here. Neighborhoods with bigger canals and deep draft boating are generally home to the Million dollar and plus homes.
Nearby Medical and shopping options
These are very important considerations. If there is an accident, how far away is a hospital?
In the Upper Keys we have Baptist hospital in Tavernier which is an excellent option.
If you need groceries or restaurants, what is nearby?
Oftentimes vacation properties can be secluded and don’t offer easy access to the above. At first being remote can seem as desirable, but in the end it can grow old quickly.
This also affects home values by the way. If you can have the vacation feel and recreation, yet have amenities nearby, the prices go up.
On thing about the upper Keys is that Miami and South Beach are just about an hour away and World famous Key West, 2 hours.
How much room do you need?
If you own a home with nearby recreation and sightseeing, expect people to come out of the woodwork. Everyone will be your friend. Larger homes, with more bedrooms, a 3/2 and up always rent better. So if you can, get a home with extra space.
Type of Construction or is it built to last.
The age of the home will determine the building code that it was built to. In the Keys newer homes have to be built to strict specs as to wind handling characteristics.
Also, look for low maintenance homes.
Lots of homes in the Keys are made of concrete block and have pea-rock for yards and the outside is stucco over concrete or frame. This means lower maintenance, which is very important for an absentee owner.
Finding renters
Does the home have good rental potential and is there local rental management available?
This is a very important consideration, both for long term and short term vacation rentals.
Remember, even if you don’t want to rent, this can be an important consideration for a future buyer or if your situation changes.
Home maintenance.
Are there nearby electricians, plumbers, appliance stores and general contractors.
If anything does happen, the prices to have things repaired or replaced will be less if there is competition and service people are nearby.
Check with the REALTOR you are talking with to get a Vendor list of who the Real Estate company uses to service their rentals and offices.
Rules and Regulations
Make sure you are clear on and have copies of any deed restrictions or condo docs as to what is allowed and what is not. Too many rules can be appetizing for some but a turnoff for future buyers. For example if you have children who will want to use the property in the future as a college break, lots of communities can prohibit it.
In conclusion, the upper Keys offer good investment potential from an appreciation aspect and income potential from renters.
Regarding Appreciation.
Because Miami and Ft Lauderdale are a short drive away, people there look to the Keys as a getaway. Think New York and the Jersey shore. We sell a majority of homes to people from these areas.
Income potential.
About 50% of the vacation renters in the Keys are from Florida. They come here because the Keys are a completely different experience. This means as Florida grows (it is on pace to be the 2nd largest state in the USA by 2010) we will have more people looking to vacation here. This will drive prices up and make rental occupancy rates climb even more.
There is only so much waterfront or Coastal property available.
The Keys have strict environmental laws that affect building permits. This means there are only so many homes and always will be a limited number of homes here. One big reason for this is there is just ONE Highway in and out of the Keys. (US1) If there is an emergency, people need to have the ability to leave quickly and so for this reason alone, the Keys will never be California. The other main environmental consideration is the water quality. The Keys main attraction are water sports and Monroe County is going to make sure that our waters are clean and usable.
To consider when purchasing any waterfront vacation home and how the Keys measure up:
Is there a view?
Views really do matter. An unobstructed Ocean view adds as much as 60% to the value of a home per the Journal of Real Estate Finance and Economics. Proximity to Golf courses or a park can add as much as 20% to a homes value. This is per an article by a much published author named Soren Anderson, a writer from Manchester College.
Consider the recreational activities…
The What and the When.
For example in a Ski resort area, your options are limited due to weather considerations and the total amount of activities available is definitely less.
*In the Keys, about the only thing you cannot do year round are mountain climbing and white water rafting.
Boating access and controlling depth
Is there direct boating access on the property? If so, how large a boat can you have behind the home? This is determined by what we in the Keys call controlling draft or depth. For example: If a boat is under 30ft in most cases 3 ft draft is OK. Draft means...what is the lowest water depth you have to go through to get to open or deep water.If you have a sailboat or 50 ft boat you will need deeper draft such as 5ft.
Now ..obviously if you have a 50 ft sailboat behind your home, the canals or waterways have to provide you with turn-around room.
If the access is deep draft, then expect prices to go up. If there is no water access at the home or the draft is for kayaks only, in most cases expect a drop in price.
If there is no direct water access...how far is the nearest boat ramp or is there a boat slip available? If so, is it included and what is the draft out of the boat slip.
So the boating issue has a very direct effect on pricing here. Neighborhoods with bigger canals and deep draft boating are generally home to the Million dollar and plus homes.
Nearby Medical and shopping options
These are very important considerations. If there is an accident, how far away is a hospital?
In the Upper Keys we have Baptist hospital in Tavernier which is an excellent option.
If you need groceries or restaurants, what is nearby?
Oftentimes vacation properties can be secluded and don’t offer easy access to the above. At first being remote can seem as desirable, but in the end it can grow old quickly.
This also affects home values by the way. If you can have the vacation feel and recreation, yet have amenities nearby, the prices go up.
On thing about the upper Keys is that Miami and South Beach are just about an hour away and World famous Key West, 2 hours.
How much room do you need?
If you own a home with nearby recreation and sightseeing, expect people to come out of the woodwork. Everyone will be your friend. Larger homes, with more bedrooms, a 3/2 and up always rent better. So if you can, get a home with extra space.
Type of Construction or is it built to last.
The age of the home will determine the building code that it was built to. In the Keys newer homes have to be built to strict specs as to wind handling characteristics.
Also, look for low maintenance homes.
Lots of homes in the Keys are made of concrete block and have pea-rock for yards and the outside is stucco over concrete or frame. This means lower maintenance, which is very important for an absentee owner.
Finding renters
Does the home have good rental potential and is there local rental management available?
This is a very important consideration, both for long term and short term vacation rentals.
Remember, even if you don’t want to rent, this can be an important consideration for a future buyer or if your situation changes.
Home maintenance.
Are there nearby electricians, plumbers, appliance stores and general contractors.
If anything does happen, the prices to have things repaired or replaced will be less if there is competition and service people are nearby.
Check with the REALTOR you are talking with to get a Vendor list of who the Real Estate company uses to service their rentals and offices.
Rules and Regulations
Make sure you are clear on and have copies of any deed restrictions or condo docs as to what is allowed and what is not. Too many rules can be appetizing for some but a turnoff for future buyers. For example if you have children who will want to use the property in the future as a college break, lots of communities can prohibit it.
In conclusion, the upper Keys offer good investment potential from an appreciation aspect and income potential from renters.
Regarding Appreciation.
Because Miami and Ft Lauderdale are a short drive away, people there look to the Keys as a getaway. Think New York and the Jersey shore. We sell a majority of homes to people from these areas.
Income potential.
About 50% of the vacation renters in the Keys are from Florida. They come here because the Keys are a completely different experience. This means as Florida grows (it is on pace to be the 2nd largest state in the USA by 2010) we will have more people looking to vacation here. This will drive prices up and make rental occupancy rates climb even more.
Thursday, January 25, 2007
Insurance relief for the Keys
Lawmakers wrangle more Citizens rate relief
TALLAHASSEE – Jan. 22, 2007 – Lawmakers turned their attention to Citizens Property Insurance Corp. on Sunday, wringing some additional rate relief for customers in the state pool after reaching a broader agreement over the weekend to roll back private homeowners’ insurance rates.
A House-Senate compromise bill goes to the full Legislature today, the last day of the special session tackling runaway rates. It then goes to Gov. Charlie Crist, who on Sunday expressed optimism but didn’t tip his hand as to whether he intended to sign or veto the bill.
A breakthrough in negotiations late Saturday brought a deal indicating that Floridians can expect to pay roughly 25 percent less on their insurance bills beginning this summer, although the amount could vary widely depending on location and which company provides the coverage. A cross-section of sample companies that the state Office of Insurance Regulation tested with provisions of the new legislation reported that rates would fall anywhere from single digits to more than 30 percent.
When it appeared Sunday that Citizens’ customers wouldn’t do as well, lawmakers went back at the legislation and tweaked the bill to provide a rollback of about 20 percent for those in the state pool.
“We’ve delivered very, very substantial rate relief – higher rate relief than any of us thought possible a month ago,” said state Sen. Steven Geller, D-Hallandale Beach, an architect of the Senate bill.Late-night and weekend arm-twisting settled a key provision of the bill – expanding the Florida Hurricane Catastrophe Fund to provide more and cheaper state-backed reinsurance. The cost of reinsurance in the private markets had been identified as a key driver in Florida’s soaring rates.Lawmakers were clearly pleased with the outcome of the special session.
Thursday, January 04, 2007
What to consider in buying a waterfront vacation home
Things to consider when buying any waterfront vacation home.
First off, congratulations at looking to the Keys for a possible vacation home. The good news about the Keys from an investment angle are:
1. There is only so much waterfront or Coastal property available.
2. The Keys have strict environmental laws that affect building permits. This means there are only so many homes and always will be a limited number of homes here. One big reason for this is there is just ONE Highway in and out of the Keys. (US1) If there is an emergency, people need to have the ability to leave quickly and so for this reason alone, the Keys will never be California. The other main environmental consideration is the water quality. The Keys main attraction are water sports and Monroe County is going to make sure that our waters are clean and usable.
To consider when purchasing any waterfront vacation home and how the Keys measure up:
Is there a view?
Views really do matter. An unobstructed Ocean view adds as much as 60% to the value of a home per the Journal of Real Estate Finance and Economics. Proximity to Golf courses or a park can add as much as 20% to a homes value. This is per an article by a much published author named Soren Anderson, a writer from Manchester College.
Consider the recreational activities…
The What and the When.
For example in a Ski resort area, your options are limited due to weather considerations and the total amount of activities available is definitely less.
*In the Keys, about the only thing you cannot do year round are mountain climbing and white water rafting.
Nearby Medical and shopping options
These are very important considerations. If there is an accident, how far away is a hospital?
In the Upper Keys we have Baptist hospital in Tavernier which is an excellent option.
If you need groceries or restaurants, what is nearby?
Oftentimes vacation properties can be secluded and don’t offer easy access to the above. At first being remote can seem as desirable, but in the end it can grow old quickly.
This also affects home values by the way. If you can have the vacation feel and recreation, yet have amenities nearby, the prices go up.
On thing about the upper Keys is that Miami and South Beach are just about an hour away and World famous Key West, 2 hours.
How much room do you need?
If you own a home with nearby recreation and sightseeing, expect people to come out of the woodwork. Everyone will be your friend. Larger homes, with more bedrooms, a 3/2 and up always rent better. So if you can, get a home with extra space.
Type of Construction or is it built to last.
The age of the home will determine the building code that it was built to. In the Keys newer homes have to be built to strict specs as to wind handling characteristics.
Also, look for low maintenance homes.
Lots of homes in the Keys are made of concrete block and have pea-rock for yards and the outside is stucco over concrete or frame. This means lower maintenance, which is very important for an absentee owner.
Finding renters
Does the home have good rental potential and is there local rental management available?
This is a very important consideration, both for long term and short term vacation rentals.
Remember, even if you don’t want to rent, this can be an important consideration for a future buyer or if your situation changes.
Home maintenance.
Are there nearby electricians, plumbers, appliance stores and general contractors.
If anything does happen, the prices to have things repaired or replaced will be less if there is competition and service people are nearby.
Check with the REALTOR you are talking with to get a Vendor list of who the Real Estate company uses to service their rentals and offices.
Rules and Regulations
Make sure you are clear on and have copies of any deed restrictions or condo docs as to what is allowed and what is not. Too many rules can be appetizing for some but a turnoff for future buyers. For example if you have children who will want to use the property in the future as a college break, lots of communities can prohibit it.
In conclusion, the upper Keys offer good investment potential from an appreciation aspect and income potential from renters.
Regarding Appreciation.
Because Miami and Ft Lauderdale are a short drive away, people there look to the Keys as a getaway. Think New York and the Jersey shore. We sell a majority of homes to people from these areas.
Income potential.
About 50% of the vacation renters in the Keys are from Florida. They come here because the Keys are a completely different experience. This means as Florida grows (it is on pace to be the 2nd largest state in the USA by 2010) we will have more people looking to vacation here. This will drive prices up and make rental occupancy rates climb even more.
First off, congratulations at looking to the Keys for a possible vacation home. The good news about the Keys from an investment angle are:
1. There is only so much waterfront or Coastal property available.
2. The Keys have strict environmental laws that affect building permits. This means there are only so many homes and always will be a limited number of homes here. One big reason for this is there is just ONE Highway in and out of the Keys. (US1) If there is an emergency, people need to have the ability to leave quickly and so for this reason alone, the Keys will never be California. The other main environmental consideration is the water quality. The Keys main attraction are water sports and Monroe County is going to make sure that our waters are clean and usable.
To consider when purchasing any waterfront vacation home and how the Keys measure up:
Is there a view?
Views really do matter. An unobstructed Ocean view adds as much as 60% to the value of a home per the Journal of Real Estate Finance and Economics. Proximity to Golf courses or a park can add as much as 20% to a homes value. This is per an article by a much published author named Soren Anderson, a writer from Manchester College.
Consider the recreational activities…
The What and the When.
For example in a Ski resort area, your options are limited due to weather considerations and the total amount of activities available is definitely less.
*In the Keys, about the only thing you cannot do year round are mountain climbing and white water rafting.
Nearby Medical and shopping options
These are very important considerations. If there is an accident, how far away is a hospital?
In the Upper Keys we have Baptist hospital in Tavernier which is an excellent option.
If you need groceries or restaurants, what is nearby?
Oftentimes vacation properties can be secluded and don’t offer easy access to the above. At first being remote can seem as desirable, but in the end it can grow old quickly.
This also affects home values by the way. If you can have the vacation feel and recreation, yet have amenities nearby, the prices go up.
On thing about the upper Keys is that Miami and South Beach are just about an hour away and World famous Key West, 2 hours.
How much room do you need?
If you own a home with nearby recreation and sightseeing, expect people to come out of the woodwork. Everyone will be your friend. Larger homes, with more bedrooms, a 3/2 and up always rent better. So if you can, get a home with extra space.
Type of Construction or is it built to last.
The age of the home will determine the building code that it was built to. In the Keys newer homes have to be built to strict specs as to wind handling characteristics.
Also, look for low maintenance homes.
Lots of homes in the Keys are made of concrete block and have pea-rock for yards and the outside is stucco over concrete or frame. This means lower maintenance, which is very important for an absentee owner.
Finding renters
Does the home have good rental potential and is there local rental management available?
This is a very important consideration, both for long term and short term vacation rentals.
Remember, even if you don’t want to rent, this can be an important consideration for a future buyer or if your situation changes.
Home maintenance.
Are there nearby electricians, plumbers, appliance stores and general contractors.
If anything does happen, the prices to have things repaired or replaced will be less if there is competition and service people are nearby.
Check with the REALTOR you are talking with to get a Vendor list of who the Real Estate company uses to service their rentals and offices.
Rules and Regulations
Make sure you are clear on and have copies of any deed restrictions or condo docs as to what is allowed and what is not. Too many rules can be appetizing for some but a turnoff for future buyers. For example if you have children who will want to use the property in the future as a college break, lots of communities can prohibit it.
In conclusion, the upper Keys offer good investment potential from an appreciation aspect and income potential from renters.
Regarding Appreciation.
Because Miami and Ft Lauderdale are a short drive away, people there look to the Keys as a getaway. Think New York and the Jersey shore. We sell a majority of homes to people from these areas.
Income potential.
About 50% of the vacation renters in the Keys are from Florida. They come here because the Keys are a completely different experience. This means as Florida grows (it is on pace to be the 2nd largest state in the USA by 2010) we will have more people looking to vacation here. This will drive prices up and make rental occupancy rates climb even more.
Thursday, November 09, 2006
Another overview on the Florida keys
I'm going to the Florida Keys! People all over the world love to say that.
The Florida Keys is one of the most desirable areas in the world to visit and Florida Keys real estate is some of the most desirable real estate in the world. The Florida Keys are a unique American landscape. They are not even like the rest of the Florida. Called by some Americas Caribbean, they are reminiscent of the Bahamas or the Caymans or the Netherlands Antilles. They are low-lying dots on an azure sea that separates Cuba from the U.S., strung 130 miles in a long narrow corridor athwart the Gulf Stream, and bordered by one of the world’s principal coral reefs that was the scourge of pirates and the Spanish fleet nearly 500 years ago but beckons divers, fishermen, and boaters today.
The Florida Keys is one of the most desirable areas in the world to visit and Florida Keys real estate is some of the most desirable real estate in the world. The Florida Keys are a unique American landscape. They are not even like the rest of the Florida. Called by some Americas Caribbean, they are reminiscent of the Bahamas or the Caymans or the Netherlands Antilles. They are low-lying dots on an azure sea that separates Cuba from the U.S., strung 130 miles in a long narrow corridor athwart the Gulf Stream, and bordered by one of the world’s principal coral reefs that was the scourge of pirates and the Spanish fleet nearly 500 years ago but beckons divers, fishermen, and boaters today.
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