VOLUME 30 ISSUE 1 SPRING 2011

We are beaming at Waterfront Specialists! Out of 21 real estate offices from Duck Key thru Marathon, we are dominating the luxury ($1M and up) home market with 25% of the sales since January 1, 2011 and 50% of those currently pending.

At this time, 31 waterfront residences are pending in MLS from Duck Key thru Marathon.

More good news: inventory is now at 176 waterfront homes (2/2 and up) down from the average of 210. Of the existing inventory, 26% is under $600K, 20% is in the $600K-$800K, 16% is from $801K - $999K and 39% is over $1M.

 As far as closings since January 1, 2011, numbers of home sales are up 10% compared to 2010, however, the average prices fell slightly in some ranges. For instance, of the low range, the average price remained the same, but  the middle and high price ranges decreased from $900,000 to $863,000. and $3M to $2.72M, approximately, 4% -9% respectively.

 Of those sold in 2011, 45% were under $600,000., 35% sold from $700,000 to $915,000. and 20% from $1.25M to $2.72M.

 So what does all these stats mean? As a buyer who wants to purchase under $600K, you may be missing an opportunity. With sales activity is high and inventory lower, sellers may not be very flexible on their prices and basically the same goes for those homes priced under $800K. The best deals one might be able to get are in the $800K and up range and most likely in the over $1M. One side note: Keep in mind that sellers are more realistic than in the past and those who truly want to sell are pricing their property based on recent sales.

 Normally, the best quality inventory is placed on the market during the winter months so don?t wait till summer when everything is picked over. Don't be one of those who say, I could have or should have bought that one! 

Whether or not you're getting ready to list your home for sale, maintaining curb appeal is important. Make your home's exterior shine by decluttering and staging, the same principle you would use to spruce up the interior.

     Take a walk across the street to get an overall first impression of your property. Is the lawn unkempt? Are the hedges unruly? If you don't have time, hire a service to do the clean up and keep up the regular maintenance. Repair any cracks or dings in your windows, railings, etc. Make them sparkle with a thorough cleaning and touch up paint.

    Consider planting or adding to a garden with bright florals and, at maximum, one or two decorative pieces (iron statues, gazing balls, etc.) depending on garden size. If it's in the budget, rejuvenate your home with a new paint color perhaps on to match the season, with a cool pale blue for winter or pale yellow for a warm, spring look. If you can't revamp your entire exterior, consider repainting the front door to make it stand out, and replace existing hardware such as doorknobs or locks for a new feel.

   Consider all angles. Prospective buyers are going to check out your house from all sides including the backyard. Make sure any outdoor elements---the patio, pool, pond, deck and shrubbery look just as inviting as the front. If you have a patio or lounging area, be sure furniture is up to date with clean cushions and no scratches or hasty repair jobs, and make sure the look matches the rest of the decor.