FLORIDA KEYS REAL ESTATE FLORIDAKEYS
credible things that have brought more business in.
n
I N T E R V I E W W I T H Bob Cardenas
Bob Cardenas | Continued in 2010 went up 61.5 percent of 2009. Which is gigantic. In other words, prices in general up the Keys a little bit are still a little bit lower. And we are still seeing prices not really improving an awful lot. But they will. With this increase in number of sales, it means that all the low priced inventory is going to disappear and the other inventory is going to improve. We generally show a market that is ahead of the rest of the country. We have an un- usual micro-economy down here. It’s typically wealthy, second-home buyers that have purchased down here. Te restricted growth ordi- nances that everybody often com- plains about have saved us in a lot of ways. We haven’t had the run- away growth that we had in areas like Miami, Orlando and Tampa.
JS: You cited percentage increase this year over last year. It could be good news. It could mean that while last year was terrible, this year is just a little bit better. BC: Last year was terrible. Tis year is better. I traveled all last year, and I’ll travel again in 2011. Across the country, the message is the same. Te markets have stabilized or are starting to improve. Tere are still some pockets that are strug- gling. A couple of pockets in Florida. But here is like Miami, where everybody thought it would take many, many, many years to re- cover, and they’re doing some in-
JS: Have you got any insight on how long it’s going to take to catch back up again? BC: It’s extremely difficult to say. Key West is different then a lot of other areas in the country. Some areas have been hit very hard and will probably take 13 years. I per- sonally don’t think Key West will. Some areas such as Old Town and the Meadows and some of the other areas in town where a lot of these wealthier, second home buyers are, they refuse to lower their prices. So these people tend to hang on if the market’s not there. Tey just won’t sell their house.
JS: I’ve heard it said that sometimes what people want is more impor- tant then what it costs. BC: We see that everywhere in the Keys. You look at square foot price in the Keys and compare it to other areas of the country. Square foot prices don’t make any sense, and it’s because we have a quality of life here that is like none other. People are buying the lifestyle more then the actual real estate.
JS: Make a predication for 2011. BC: I do predict 2011 will be better then 2010 and 2010 was better then 2009. We had a string of events from Hurricane Wilma that ended up flooding the island. After that we started the real estate reces- sion. We’ve had a rough few years. Nationwide the economy is getting better, the local economy is getting better, the lending activity is get- ting better. Interest rates are some of the lowest we’ve ever had.
JS: Maybe the worst of times is be- hind us. BC: I believe that from the bottom of my heart.
e 18 KONK Life
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24