Florida Keys Waterfront Property Disappearing

Waterfront properties throughout the Florida Keys are being grabbed up by developers

RISMEDIA, November 21, 2006— In order to preserve public access to the waters through Boat ramps, Monroe County (The Florida Keys) is considering purchase of properties that already offer dockage and that have large enough space for boat trailers turning radius. One of the main reasons they are looking for established properties is that it's extremely difficult to win state and federal approvals for new docks.

Because the Key Largo area offers some of the best fishing and diving, the upper Keys are one of the areas Monroe county leaders are currently considering for property purchases.

When asked for his opinion about all this, Key Largo Realtor and Coldwell Banker Manager, Dennis Handa remarked, “I think it's great that the county is approaching it this way. With all of the development just north in Homestead and South Miami, we are seeing increased pressure on our water access. Especially open water homes, due to second home home buyers and especially investors. So what the county is doing will really help maintain public access to our incredible water recreation.

When asked about the sales in the Keys and if there was a slump, Dennis further remarked: There has certainly been a price adjustment and that did stall the market somewhat.

However, now that pricing has settled, homes are selling either in the lower price brackets of under $500,000 or in the upper brackets from about 1 million five and up. A lot of smart buyers are coming in now and looking for investments, 1031 exchanges and second homes.

For more information, visit http://www.keylargoren.com.

 

 

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