Key West, FL Real Estate News

By Bruce Herndon
(Preferred Properties Coastal Realty, Inc. )
Fantasy Fest is coming!! For the uninitiated, this is an annual week long Mardis Gras-like festival in the city of Key West, not the least part of which is not knowing what state of dress (or undress) you are likely to encounter at any time! This year's theme is "Gnomes, Toads, & White Rabbit Tea Parties", and the many events kick off on Friday, October 19th with the ROYAL CORONATION BALL. Other events throughout the week include GOOMBAY, featuring the sights and sounds of the Caribbean in the Bahama Village section of Key West, the CELEBRITY LOOK-A-LIKE CONTEST, the HOMEMADE BIKINA CONTEST, the GIT-R-WET T-SHIRT CONTEST, the truly wild and crazy SLOPPY JOE'S BAR 24th ANNUAL TOGA PARTY, and much, much more!For questions or more information, contact buyinparadise@bellsouth.net
Comments 2
By Tina Masters
(Coldwell Banker Schmitt Real Estate Co.)
Reasons to consider an investment in a second home! Owning a second home used to be reserved for very few people. With the changes in personal income, ease of travel and the day to day stress of everyday life more and more people are buying second homes.Following are some good reasons to consider doing this yourself.It's also important that you realize that the prices of homes on the water in the Florida Keys are still a real bargain compared to elsewhere in the US and even more especially Europe. Following are the main reasons it could make sense for you and your family to buy a second home! 1.Gain appreciation as a good long term Investment. Second home prices are definitely going up, especially in resort areas and here's why. A- Demographics or baby boomers. They are now getting into...
Comments 0
By Tina Masters
(Coldwell Banker Schmitt Real Estate Co.)
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 pe...
Comments 1
By Tina Masters
(Coldwell Banker Schmitt Real Estate Co.)
Key west Investment opportunitiesWith 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 InvestmentsAside from commercial investments the two situations most people are looking for in Florida areVacation 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 anywh...
Comments 0
By Gary Smith
(Keys Commercial Real Estate LLC.)
Florida Keys EmploymentThe local economy leans towards goods and services for both new residents and tourists.The retail, construction and hotel industries have the most employees in Monroe County.Business SizeMonroe County is comprised of primarily small businesses.Since there is no state or local income tax, you take home more.Employment: The good news.  Key West has one of the lowest unemployment rates in the country.Why? Key West is one of the most popular destination points in the world for Divers, Boaters, Fishermen and people looking to get out of the bad weather and enjoy our water and the unique ambiance of Key West and the neighboring islandsSo What? In addition to people flying and driving in, on average we get two to three Cruise ships from all over the world each day. This ...
Comments 2
By Tina Masters
(Coldwell Banker Schmitt Real Estate Co.)
I'm going to Key West and the Florida Keys! People all over the world love to say that. Key West and the Florida Keys are in fact, one of the most desirable areas in the world to visit. Because of this, our property is some of the most desirable real estate in the world. The islands here comprise a unique American landscape. Called by some, Americas Caribbean. Our islands are reminiscent of the Bahamas, Caymans or Netherlands Antilles. Imagine 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. Bordered by one of the world’s principal coral reefs that was the scourge of pirates and the Spanish fleet nearly 500 years ago. Our waters beckon year round divers, fishermen, and boaters.The best way to describe Ke...
Comments 1
By Tina Masters
(Coldwell Banker Schmitt Real Estate Co.)
Our local economy leans towards goods and services for both new residents and tourists.The retail, construction and hotel industries have the most employees in Monroe County.Business SizeMonroe County is comprised of primarily small businesses.Since there is no state or local income tax, you take home more.Employment: The good news.  Key West has one of the lowest unemployment rates in the country.Why? Key West is one of the most popular destination points in the world for Divers, Boaters, Fishermen and people looking to get out of the bad weather and enjoy our water and the unique ambiance of Key West and the neighboring islandsSo What. In addition to people flying and driving in, on average we get two to three Cruise ships from all over the world each day. This has spurred a growth wh...
Comments 0