Rudy Molinet, Broker/Owner
Marquis Properties Realty
508 Southard Street, Suite 107
Key West, FL 33040
Direct: 305-240-1090
Office: 305-295-6565
Fax: 305-768-0808
rudy@rudymolinet.com
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Winter 2007-2008 Key West Real Estate Report
"The Weather Up North is Frightful,
But Key West is So Delightful"
Old Man winter is not wasting any time and our annual migration of snowbirds to Key West is starting early. The Florida Keys lodging industry is experiencing record revenues. Europeans are coming here in droves due to the strong Euro and Pound Sterling, and Americans are traveling here searching for an exotic destination where their dollar is strong. Both of these factors, along with a quiet Hurricane Season, bode well for our real estate market this season. Canadians are experiencing a strong currency over the dollar which is also influencing a large number of visitors from our northern neighbor.
During the past several weeks, we have seen several properties go under contract in Key West. Compared to last year, more properties have sold and it appears that our market is beginning to recover. Asking prices have come down to levels that make Key West a great buy!
Rudy Molinet is the top Realtor in Key West as of the third quarter of this year. He has sold more properties in Key West (in terms of sales revenue) than any other Realtor. Rudy continues to work with buyers and currently has 13 amazing listings for you to choose from. Rudy can also show you any property in the Key West MLS and is a respected member of the real estate community.
There are some great listings to choose from. We have an award winning property listed at 327 William Street on one of the best streets in Old Town Key West. Our listing at 621 Canfield Lane offers the privacy of Lane living with a fully renovated home that you will be proud to own. Over in Truman Annex, we have two gorgeous Foundry town homes and a great unit 413 Porter Lane in Porter Court---a comfy enclave of 19 condo/town homes. In the exclusive Casa Marina district, we have listed a designer home at 1416 White Street which will knock your socks off! On the commercial side, we have listed 816 Duval Street, the landmark Croissants de France restaurant.
The Key West election season is over and we are focused on the upcoming tourist season. There is a general optimism this year that we did not see last year in the real estate market. Buyers are coming to town and realizing that there are some great properties and some great deals. We are starting to see inventory shortages in certain price points and areas so if you have a home to sell in Old Town, Truman Annex or the Casa Marina, please contact me.
It's a great time to buy so give Rudy Molinet a call today at 305-240-1090. He can represent you as an Exclusive Key West Buyers Agent. There are many benefits to working with a buyers agent. Click on the link above for further information.
Summer/Fall 2007 Key West Real Estate Market Report
Come To Key West to Cool Off This Summer!
The Southernmost Point is one of the Coolest-Most Points
in The Continental USA!
July and August are typically quiet in Key West Real Estate. This year is no exception. With the folks up North focused on "Summer in The City", Key West settles into a quiet time for locals and for business.
The Rudy Molinet team saw brisk activity this year despite a slower national real estate market. We closed on the property located at 911 Fleming Street, a gorgeous home on a large lot in Old Town Key West for $4,340,000. This was the highest priced sale in Key West during the time period. The property was listed and sold in approximately 120 days.
We also sold a lovely home on Frances Street that was under contract in one month and sold very close to the asking price. Another listing at 723 Southard went under contract and closed for full asking price in about one week. We also sold four properties in Truman Annex during this time period...the most of any single realtor working there!
Our Buyer clients have kept us busy as we have been able to find dream homes for several of them. We represented the Buyers in the purchase of a gorgeous home in the Casa Marina and a wonderful historic property on William Street.
All this activity has catapulted us to FIRST PLACE among all Key West Realtors in closed sales for the first 8 moths of 2007. We are very proud of this achievement and want to thank our customers and clients who made this happen.
My partner Harry Hoehn works hard to make sure that our transactions close. Harry or I attend every inspection, appraisal, and closing to assure a smooth transaction from start to finish! Harry also shows listings when I am with another client and he has done a great job this year in developing those sales skills!
How Did We Do It?
Pricing, Pricing, Pricing.
We have focused strongly on pricing properties to actual market value rather than some over-inflated and unrealistic price that we can not defend. This is a difficult conversation to have with Sellers but when Sellers take our advice, the outcome is a sale---eventually. Remember, it takes time to market and sell a property. We are seeing a return to a more "normal" market--one where Buyers and Sellers are able to evaluate properties in a realistic manner rather than in a frenzied approach that we saw several years ago.
It Is A Great Time To Buy Key West Real Estate!
There are some great, well priced listings throughout the Island as Sellers are becoming more realistic with pricing. This presents a more stable market for Buyers who can see a listing and make sense of the value proposition. Buyers are responding with offers that are appropriate to the property they are seeking to buy.
We have some great listings for sale in Old Town Key West. Check out a wonderful, luxurious home at 408 Louisa Street. We have a great property at Truman Gardens, an intimate gated community of newly built homes that look like original conch houses. 1006 Packer Street is a 2/2.5 single family home with private off street parking listed for $895,000 . 1012 Packer Street, an awesome 2/2 condo listed at $499,000 closed in June for $475,000 .
We have a great investment/income property listed at Sunrise Suites, and a lovely, large Conch house at 626 Grinnell Street listed for $1,995,000. You can view all these properties on our Key West Listings page. We limit our listings to 20 active listings so that we can give special attention and individualized service to these listings. This strategy has helped us maintain our "Boutique Real Estate Firm" status!
If you are looking for a home in Key West you should consider working with a Buyer's Agent. Rudy Molinet is one of the top Buyer's Agents in Key West. Rudy Molinet knows Key West Real Estate and has sold multiple Key West properties to Buyers in the past year. Rudy Molinet is the Key West Realtor that Buyers go to when they need expert advice on Old Town Key West Real Estate, Truman Annex and Waterfront properties . In 2007 , he found some great deals for Buyers who he represented as an "Exclusive Buyer's Agent". There are many advantages to hiring Rudy as your Buyer's Agent. Check out Benefits of Working With A Buyers Agent.
Rudy Molinet was honored with being selected by HGTV as the local realtor expert to host National Open House when they visited Key West in late April. You can view the press release describing this exciting show using this link: National Open House. The show will air at the end of this year.
Now that summer is here, there are some great opportunities to buy homes in Key West . The pace is slower in sales but savvy buyers can find some great gems. Call me today and I'll show you some wonderful properties.
Keep Cool Up There in The Hot North!!
May/June 2007 Key West Real Estate Market Report
I Was Walking Through Key West One Day,
In the Merry, Merry Month of May
Who Says Things Aren't Selling!!
May and June were good months for Key West Real Estate as the Key West real estate market continued to post impressive sales despite the national trends in real estate. 83 properties sold during this two month period including 8 commercial properties. These ranged from a modest home on Baptist Lane for $270,000 to
the Mansion On Fleming which sold for $4,340,000.
We also sold a gorgeous home on Frances Street that was under contract in one month and sold very close to the asking price. Another listing at 723 Southard went under contract and closed for full asking price in about one week. We also sold four properties in Truman Annex during this time period...the most of any single realtor working there!
Our Buyer clients have kept us busy as we have been able to find dream homes for several of them. We represented the Buyers in the purchase of a gorgeous home in the Casa Marina and a wonderful historic property on William Street.
My partner Harry Hoehn works hard to make sure that our transactions close. Harry or I attend every inspection, appraisal, and closing to assure a smooth transaction from start to finish! Harry also shows listings when I am with another client and he has done a great job this year in developing those sales skills!
How Did We Do It?
Pricing, Pricing, Pricing.
We have focused strongly on pricing properties to actual market value rather than some over-inflated and unrealistic price that we can not defend. This is a difficult conversation to have with Sellers but when Sellers take our advice, the outcome is a sale---eventually. Remember, it takes time to market and sell a property. We are seeing a return to a more "normal" market--one where Buyers and Sellers are able to evaluate properties in a realistic manner rather than in a frenzied approach that we saw several years ago.
It Is A Great Time To Buy Key West Real Estate!
There are some great, well priced listings throughout the Island as Sellers are becoming more realistic with pricing. This presents a more stable market for Buyers who can see a listing and make sense of the value proposition. Buyers are responding with offers that are appropriate to the property they are seeking to buy.
We have some great listings for sale in Old Town Key West. Check out a great Old Town home at 621 Canfield Lane with a pool and parking on one of the best lanes in Old Town. This home was featured on the Old Island Restoration Tour of Homes and has been fully renovated.
If you are looking for a home in Key West you should consider working with a Buyer's Agent. Rudy Molinet is one of the top Buyer's Agents in Key West. Rudy Molinet knows Key West Real Estate and has sold multiple Key West properties to Buyers in the past year. Rudy Molinet is the Key West Realtor that Buyers go to when they need expert advice on Old Town Key West Real Estate, Truman Annex and Waterfront properties . In 2007 , he found some great deals for Buyers who he represented as an "Exclusive Buyer's Agent". There are many advantages to hiring Rudy as your Buyer's Agent. Check out Benefits of Working With A Buyers Agent.
Now that summer is coming, there are some great opportunities to buy homes in Key West . The pace is slower in sales but savvy buyers can find some great gems. Call me today and I'll show you some wonderful properties.
Have a wonderful Summer!
April 2007 Key West Real Estate Market Report
March Madness Hits Key West Real Estate
Double The Number Of Sold Properties Than In February
Who Says Things Aren't Selling!!
March was a great month for Key West Real Estate as the Key West real estate market roared from its slow start in December.
131 properties were sold or under contract in the month of March in Key West. This includes 13 commercial properties. There were 46 sales that closed during the month of March. The highest pending was the old VFW hall which is listed at 3 million dollars and there were three residential listings under contract for over 2 million dollars. I currently have nine pending properties, one of the highest numbers of any single Key West Realtor!
The residential market saw brisk activity. We listed a house on Southard Street which commanded two offers and went under contract for the full asking price in one week. Our listing on Stump Lane closed for full asking price, a 1/1 house for $519,000. A gorgeous Conch house at 526 Frances Street, listed for $1,349,000, is under contract and will close in April. Our Buyer clients have kept us busy as we have been able to find dream homes for several of them. My partner Harry Hoehn is back in the office full-time keeping everything running smoothly "behind the scenes".
Harry and I hosted a Grand Opening for The Mansion on Fleming, an incredible estate in Old Town Key West that we renovated and restored. We combined this with a fundraiser for AIDS Help's client housing program that featured the work of artist Sherry Sweet Tewell who donated artwork. We raised $8,000 and had 240 guests come to our opening! We also put several great houses under contract with clients who are Buyers; including a gorgeous Eyebrow house on William Street and an incredible high quality renovation on Whalton Street in the Casa Marina.
It Is A Great Time To Buy Key West Real Estate.
There are some great, well priced listings throughout the Island as Sellers are becoming more realistic with pricing. This presents a more stable market for Buyers who can see a listing and make sense of the value proposition. Buyers are responding with offers that are appropriate to the property they are seeking to buy.
We have some great listings for sale in Old Town Key West. Check out 911 Fleming Street, The Mansion on Fleming. We also listed a wonderful home at 621 Canfield Lane with a pool and parking on one of the best lanes in Old Town. This home was featured on the Old Island Restoration Tour of Homes.
We have two great properties at Truman Gardens, an intimate gated community of newly built homes that look like original conch houses. 1006 Packer Street is a 2/2.5 single family home listed for $895,000 and 1012 Packer Street is an awesome 2/2 condo listed at $499,000. Both these listings have private off-street parking.
There is a wonderful single family home on Emma Street which is under contract, a waterfront condo at Mills Place, an awesome three bedroom townhome on Porter Lane, an incredible Townhouse in the Foundry. These properties are located in Truman Annex, Key West's premier gated community. We have a great investment/income property at Sunrise Suites, a totally renovated single family home on Margaret Street and a "knock your socks off" home on Louisa Street. You can view all these properties on our Key West Listings page. We limit our listings to 20 active listings so that we can give special attention and individualized service to these listings. This strategy has helped us maintain our "Boutique Real Estate Firm" status!
If you are looking for a home in Key West you should consider working with a Buyer's Agent. Rudy Molinet is one of the top Buyer's Agents in Key West. Rudy Molinet knows Key West Real Estate and has sold multiple Key West properties to Buyers in the past year. Rudy Molinet is the Key West Realtor that Buyers go to when they need expert advice on Old Town Key West Real Estate, Truman Annex and Waterfront properties . In March, he found some great deals for Buyers who he represented as an "Exclusive Buyer's Agent". There are many advantages to hiring Rudy as your Buyer's Agent. Check out Benefits of Working With A Buyers Agent.
Rudy Molinet was honored with being selected by HGTV as the local realtor expert to host National Open House when they visit Key West in late April. You can view the press release describing this exciting show using this link: National Open House.
April is off to a great start with Old Man Winter still roaring up North. 12 inches of snow in Ohio and we are in the 80's. Come on down and buy some great Key West Homes!
March 2007 Key West Real Estate Market Report
February Is Not Just For Lovers On Valentines Day,
It Was Also A Great Month For Lovers Of Key West Real Estate!
96 properties were sold or under contract in the month of February in Key West. This includes eleven commercial properties. The highest pending was the old VFW hall which is listed at 3 million dollars! The highest sale-- a 2265 square foot waterfront home on Sunset Key sold for 5.8 million dollars--- over $2500 per square foot. I currently have six pending properties, one of the highest numbers of any single Key West Realtor!
The residential market saw brisk activity. I listed a house on Frances Street in Old Town Key West and in less than 30 days it was under contract and is scheduled to close in April. One of my listings on Stump Lane was on the market for less than 48 hours before it went under contract. These examples show the power of pricing properties appropriately. Over-priced listings don't sell, well priced listings do!
It is still a great time to buy Key West real estate. There have been many price decreases throughout the Island as Sellers are becoming more realistic and comfortable with lowering prices. This presents a more stable market for Buyers who can see a listing and make sense of the value proposition. Buyers are responding with offers that are appropriate to the property they are seeking to buy.
We have some great new listings this past month. Check out 723 Southard Street and 911 Fleming Street, The Mansion on Fleming. We also listed a wonderful home at 621 Canfield Lane with a pool and parking on one of the best lanes in Old Town. This home was featured on the Old Island Restoration February Tour of Homes.
We also listed two great properties at Truman Gardens, an intimate gated community of newly built homes that look like original conch houses. 1006 Packer Street is a 2/2.5 single family home listed for $895,000 and 1012 Packer Street is an awesome 2/2 condo listed at $519,000. Both these listings have private off-street parking.
There is a wonderful single family home on Emma Street, a waterfront condo at Mills Place, an awesome three bedroom townhome on Porter Lane, an incredible Townhouse in the Foundry, a beautiful Shipyard End Unit and a gorgeous President's Walk End Unit! These properties are all in Truman Annex, Key West's premier gated community. We have a great investment/income property at Sunrise Suites, a totally renovated single family home on Margaret Street and a "knock your socks off" home on Louisa Street. You can view all these properties on our Key West Listings page. We limit our listings to 20 active listings so that we can give special attention and individualized service to these listings. This strategy has helped us maintain our "Boutique Real Estate Firm" status!
If you are looking for a home in Key West you should consider working with a Buyer's Agent. Rudy Molinet is one of the top Buyer's Agents in Key West. Rudy Molinet knows Key West Real Estate and has sold multiple Key West properties to Buyers in the past year. Rudy Molinet is the Key West Realtor that Buyers go to when they need expert advice on Old Town Key West Real Estate, Truman Annex and Waterfront properties . In February, he found four great deals for Buyers who he represented as an "Exclusive Buyer's Agent". There are many advantages to hiring Rudy as your Buyer's Agent. Check out Benefits of Working With A Buyers Agent.
March Madness Is Upon Us And All Indications Are
That We Will Have A Very Busy Month Ahead!
February 2007 Key West Real Estate Market Report
"The Weather Up North Is Frightful, But Key West Is So Delightful."
Old Man Winter has struck his first blow at the Northern United States causing the annual migration of snowbirds to descend on Key West looking for that perfect vacation or second home . The Key West Real Estate market is showing the results.
During the month of January 2007, 80 properties went under contract or sold in Key West. Of these, 25 were closed sales and 55 are pending or under contract. This included one home on William Street in Old Town Key West which sold for $3,495,000. This was a 4/3.5, 2592 square foot home on a 5100 square foot lot.
If you are looking for a home in Key West you should consider working with a Buyer's agent. Rudy Molinet is one of the top Buyer's Agents in Key West. Rudy Molinet knows Key West Real Estate and has sold multiple Key West properties to Buyers in the past year. Rudy Molinet is the Key West Realtor that Buyers go to when they need expert advice on Old Town Key West Real Estate, Truman Annex and Waterfront properties .
There are some great properties in Key West and Truman Annex. Rudy just listed the incredible Mansion on Fleming which boasts one of the largest lots in Old Town and one of the largest private swimming pools in Key West. We have also listed several single family homes in Old Town Key West. There is a wonderful single family home on Emma Street, a waterfront condo at Mills Place, an awesome home on Admirals Lane, an incredible Townhouse in the Foundry and a President's Walk Unit that will knock your socks off! These properties are all in Truman Annex, Key West's premier gated community. Rudy also sold an exquisite waterfront home in Bay Point and is working with several waterfront Buyers in Shark Key and Sugarloaf Key.
We had some terrific news on the windstorm insurance issue. The Florida legislature has passed an insurance reform bill that has been signed by Governor Charlie Christ. This effort should decrease our insurance premiums and will roll back rates to the level we had in 2005. This should go a long way towards assisting Key West Real Estate buyers in purchasing their dream Key West Home!
View & Print A Summary Of Our Insurance Reform Bill.
January 2007 Key West Real Estate Market Report
The Key West real estate market is poised to awaken from its off season slumber to create great opportunities for buyers to secure their Key West home. Year-to-date, sales of units are down, but prices of sold properties on the Island of Key West are holding steady. Asking prices have come down to reflect the actual comparable sales rather than the past practice of setting unrealistic asking prices. Sellers are willing to discuss offers and buyers are encouraged to make reasonable offers based on sales that have recently closed. Traditionally, January through April are the most active real estate months in Key West as northern snowbirds flock to our warm weather, warm Caribbean waters, and our funky Key West lifestyle.
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Rudy Molinet