Florida Keys Real Estate Blog Intro

Friday, 27 August 2010 14:06 Last Updated on Thursday, 09 September 2010 00:19

So Real Estate and the Florida Keys. We here (as well as across the nation) found out just how closely industries are intertwined when the markets crashed. For the Florida Keys we saw a dramatic stop in the Real Estate industry over 5 years ago. The hurricanes breezed through at the time and left no real physical damage for us in the Florida Keys but the economic impact it has had on those who live and earn a living here has been far reaching.

The professionals who work in the Florida Keys Real Estate Industry were hard hit. Then the snow ball effect began soon after. We as Realtors stopped print advertising as our reserves dried up. We cut back on all aspects of our businesses; laying off staff and letting go of the agents that just weren't producing. Real Estate companies starting charging for all the services they once provided for their agents. The sellers were feeling the crunch as well as the stock market went down and the values of the homes began to turn upside down. The intances of mortgage fraud were just becoming apparent as we began sifting through the ashes of the Florida Keys Economic Destruction.

Now in 2010 we are seeing record number closings but they are mostly bank owned properties and the prices are at an all time low. Who would have guessed a Florida Keys Canalfront CBS Home going for under $300,000. Well we are in the thick of it and it is going to last a long time. The buyers of these homes will thankfully start hiring the companies that used to make a living fixing up these properties. As we unmask the destruction of foreclosure and the damage the previous owners have inflicted on the properties left to the banks; local craftsmen stand to have a very lucrative come back.

It would be nice to hear some of the positive things happening as we recover here in the Florida Keys. If you have a story to tell or something to tell about how you have received good fortune from the back side of this Florida Keys economic disaster recovery then add a comment below or send them to This e-mail address is being protected from spambots. You need JavaScript enabled to view it and we will be glad to post them. Any suggestions on how to continue to help grow our Florida Keys Economy are welcomed as well.

Comments

+1 #3 Shawn Wilson 2010-09-10 11:18

Thanks g4 and that is a great idea. It may be a way to get the closings back into the hands of the local businesses. The banks I beleive own the closing agencies as well so it may be a loosing battle. Maybe Obama can fix it.??

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+1 #2 2010-09-10 08:06

Maybe try sending the Banks a proposal for local closings that handles every item in a package for less cost than the mail away

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+3 #1 2010-09-09 19:28

Working with a local property owner looking to buy investment property. He will hire local to do the work on any property and would like to us a local title company to close. BUT he wil most likely purchase a bank owned propety and the BANKS are controlling the closings which are always out of the area. They pay for all of the closing costs but close it in Tallahassee then mail out the checks.. we need to have the banks keep the affiliate businesses affected by real estate in the loop on a local level. Any suggestions????

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