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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Key West Real Estate Market Starting to Recover
January 2008
A recent article in the Key West Citizen by its business editor Anne-Margaret Sobota highlighted the positive signs of our current Key West Real Estate market and Key West Homes For Sale.
The article provided much needed, positive reporting of the current Key West Real Estate market. We are bombarded daily with negative reports by the national media regarding the real estate market. Key West Real Estate For Sale is not only starting to recover but is showing signs of life. The patient has taken many deep breaths, her blood is full of oxygen and in some areas of town, the exhaling has begun- you can tell I loved the headline!
In my opinion, the secret to this recovery begins with sellers pricing properties correctly. When buyers come to Key West and view over-priced properties and a large inventory, they get confused and may decide not to buy. Historically, over-priced properties do not sell, they just sit on the market contributing to the inventory and to a feeling that "everything is for sale" . In fact, this January compared to last January there are less Key West Homes For Sale listed in the Key West MLS as some sellers have begun to understand the importance of pricing and buyers are responding favorably by making offers. Many Key West Realtors will not show Key West Homes For Sale that they fell are overpriced. My strategy in working with Key West Real Estate Buyers is to only show them Key West Properties that I feel meet their needs and that are priced correctly.
Selling a property is best accomplished by hiring a professional Key West Realtor to analyze the market, provide information on comparable sales, price the property based on what it is worth, and then market the property aggressively. Most people would not have an operation without a doctor, go to court without a lawyer or get a filling without a dentist. The same logic applies to real estate- hire the best professional for the job and then listen to his or her advice.
Activity in the Key West Real Estate market lately has been busy! Buyers are looking at properties and second showings have increased. Offers are being written and accepted, sales are closing. Many buyers and sellers seem to understand the power of negotiating in "good faith" to make the deal happen. Those sellers who don't understand this principle probably won't sell their homes this season. And yes, properties are selling. Correctly priced properties, that is.
Key West Real Estate is one of the largest segments of our local economy and all Key West citizens have a vested interest in the market's success. Property owners obviously should care about this, but so should renters, snowbirds, electricians, plumbers, restaurant workers, retail store clerks, and artists. When Key West Real Estate sales are strong, people will renovate their homes, buy more goods, go to plays and movies, commission artists, eat at restaurants, shop at our stores, and provide quality rentals.
Key West Real Estate is highly desirable as Key West is still a great place to live or have a second home in. Our unique mix of people, great weather, architecture, tropical fauna & flora, arts & theater venues, water sports, and open-minded attitudes are a magnet for people from all over the world.
Call Rudy Molinet today at 305-240-1090 to talk about the Key West Homes For Sale that are right for you!
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Rudy Molinet