Marathon Florida (PRWEB) December 11, 2006
When asked to explain, Brian Schmitt, CEO of Coldwell Banker Schmitt Real Estate Company in the Keys remarked: When we hear about the Insurance problems and Pricing that has occurred here over the last few years, it definitely has helped paint a doom and gloom picture of the Keys. However there are some interesting facts and figures that need to be looked at and understood.
First off, this year (2006) is the fourth best year for Real Estate sales in the Keys ever. Second, due to the actions of a Keys group called FIRM, the insurance pricing has stabilized and come down significantly. Third, prices have stabilized.
We still have some home sellers, however who are looking for inflated prices, but at the end of the day, the market drives all that. So, yes, there is more inventory, however the homes that are priced at market value are selling and will sell.
Last and most importantly, our environmental laws have placed severe restrictions on any new home construction, leaving only so many homes available. Looked at from another viewpoint, this is a definite benefit for the people lucky enough to buy here and is a benchmark that investors look for.