Key West Foreclosures

The Florida Keys has seen Foreclosures shrink in the past 18 months from 38% of the market to currently 12% of the market, Keyswide. Most buyers continue to look at foreclosures as they historically have been the best deals on the island.Some are in rough shape and usually the list price reflects that.Unfortunately a lot of the foreclosures will not qualify for financing so have to be cash sales.Appraisals have also been coming in low and in line with the Foreclosure prices. These dynamics  continues to help keep prices from moving up. Inventory levels are still low in most price points and demand is definetely continuing to rise as there is not enough properties to go around. For more information on Short Sales and Foresclosures in the Florida Keys give Sean Farrer a call at (305) 924-0700 or email at KeyWestRealEstateGuy@Gmail.com

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