FHA • MIP • mortgage insurance premiums • April 11, 2012

FHA Mortgages – Updates to Mortgage Insurance Premiums

by Tracy Larson

There’s no question that FHA loans can offer significant benefits to borrowers, such as competitive low rates. Recently there have been several changes to the loans, but most of them only effective certain borrowers.

However, one change will apply to all FHA loan applicants – the increase in mortgage insurance premiums effective April 9th, 2012.

The up front Mortgage Insurance Premium (MIP) is being increased from 1% to 1.75%. Borrowers can still finance this fee into the loan, so there is no immediate out of pocket expense, but it will increase the loan amount and the monthly payment.

Also, the monthly Mortgage Insurance Premium (MIP) is being increased from 1.15% to 1.25% for the average 30 year loan. This amount will also increase the monthly payment.

This will make FHA loans slightly more expensive than they have been int he past, but they still offer a low down payment at very competitive rates.

For more information about the changes, feel free to contact David Poole, mortgage loan originator, who provided me with this information. You can reach David at 954-254-7468 or visit his website at www.DavidPooleOnline.com

For a complete nationwide list of lenders who can assist with FHA loans, visit http://www.hud.gov/ll/code/llslcrit.cfm

Florida Keys • Grassy Key • Islamorada • Key Largo • Market Activity • new listings • real estate • Sold Listings • April 10, 2012

How’s the real estate market in the Florida Keys? Take a look!

by Tracy Larson

Market Activity April 2nd, thru April 8th, 2012

The first week of April was a fairly busy one, with 88 new listings coming on the market, 82 properties going under contract and 58 closed sales.

New Listing – 446 Barracuda Blvd.

Of the new listings, there is a large 4 bedroom, 3 bath home with pool directly on Adams Cut in Key Largo, giving you instant access to either ocean or bay. This home is beautifully decorated and offered fully furnished. Priced at just $1,050,000, it will probably sell quickly.

57181 Morton Street – Pending Sale

Pending sales include a nice oceanfront home on Morton Street – a popular street just outside of Marathon on Grassy Key. This 2 bedroom, 2 bath home has been renovated in 2008 and offers endless ocean views from your backyard. It was priced at $999,000 at time of contract.

134 Giardino Drive – sold for $1,050,000

Sold listings include one of my favorite properties in Venetian Shores in Islamorada. This impressive home features over 2,900 square feet of living space and is new construction from 2010. Originally listed at $1,580,000, the property sold for $1,050,000.

To see the listings, follow the links below:

New Listings
Pending Sales
Closed Sales

Listing information is gathered from the Florida Keys MLS. Listing links will automatically expire after 5/10/2012

If you’re interested in more information regarding the Florida Keys real estate market, feel free to call or email. I look forward to serving you for all of your real estate needs.

Florida Keys • Grassy Key • Islamorada • Key Largo • Market Activity • new listings • real estate • Sold Listings • April 10, 2012

How’s the real estate market in the Florida Keys? Take a look!

by Tracy Larson

Market Activity April 2nd, thru April 8th, 2012

The first week of April was a fairly busy one, with 88 new listings coming on the market, 82 properties going under contract and 58 closed sales.

New Listing – 446 Barracuda Blvd.

Of the new listings, there is a large 4 bedroom, 3 bath home with pool directly on Adams Cut in Key Largo, giving you instant access to either ocean or bay. This home is beautifully decorated and offered fully furnished. Priced at just $1,050,000, it will probably sell quickly.

57181 Morton Street – Pending Sale

Pending sales include a nice oceanfront home on Morton Street – a popular street just outside of Marathon on Grassy Key. This 2 bedroom, 2 bath home has been renovated in 2008 and offers endless ocean views from your backyard. It was priced at $999,000 at time of contract.

134 Giardino Drive – sold for $1,050,000

Sold listings include one of my favorite properties in Venetian Shores in Islamorada. This impressive home features over 2,900 square feet of living space and is new construction from 2010. Originally listed at $1,580,000, the property sold for $1,050,000.

To see the listings, follow the links below:

New Listings
Pending Sales
Closed Sales

Listing information is gathered from the Florida Keys MLS. Listing links will automatically expire after 5/10/2012

If you’re interested in more information regarding the Florida Keys real estate market, feel free to call or email. I look forward to serving you for all of your real estate needs.

closed sales • Florida Keys • Key Largo • Marathon • Market Activity • real estate • Tavernier • April 4, 2012

Real Estate Activity in the Florida Keys – March 19th, to April1st

by Tracy Larson

While showings appear to be slowing down a bit as the weather warms up not only here in the Florida Keys but around the country, there is still a fair amount of activity to report. 158 new listings came on the market, 151 listing went under contract and 83 properties sold in the last two weeks of March.

44 Jewfish Avenue – $179,000

If you’re interested in things with a bit of nostalgia, a new listing in Key Largo may appeal to you. This 1920’s cottage was moved to it’s current location in 1958 – probably one of only a handful of homes in the immediate area at the time. This 2 bedroom 1 bath cottage even has many original fixtures. It is priced at $179,000

127 Harbor Lane – Pending Sale

Pending sales include a nice 2 bedroom, 2 bath CBS home on a canal, listed at just $479,000. not surprisingly, it was under contract in just 8 days. This home is very near to Tavernier Creek giving it great access to both the ocean and the bay.

2950 Yellowtail Drive – sold for $730,000

Sold listings include a magnificent home on the open water in Marathon. This 3 bedroom, 2 bath home sits on over 15,000 square feet of land and also features an in-ground swimming pool. It was bank owned at the time of sale. It was listed for $760,000 and sold for $730,000.

To view the listings, follow the links below:

New Listings
Pending Sales
Sold Listings

Listing information gathered from the Florida Keys Multiple Listing Service. Listing links will automatically expire after 5/4/2012.

closed sales • Florida Keys • Key Largo • Marathon • Market Activity • real estate • Tavernier • April 4, 2012

Real Estate Activity in the Florida Keys – March 19th, to April1st

by Tracy Larson

While showings appear to be slowing down a bit as the weather warms up not only here in the Florida Keys but around the country, there is still a fair amount of activity to report. 158 new listings came on the market, 151 listing went under contract and 83 properties sold in the last two weeks of March.

44 Jewfish Avenue – $179,000

If you’re interested in things with a bit of nostalgia, a new listing in Key Largo may appeal to you. This 1920’s cottage was moved to it’s current location in 1958 – probably one of only a handful of homes in the immediate area at the time. This 2 bedroom 1 bath cottage even has many original fixtures. It is priced at $179,000

127 Harbor Lane – Pending Sale

Pending sales include a nice 2 bedroom, 2 bath CBS home on a canal, listed at just $479,000. not surprisingly, it was under contract in just 8 days. This home is very near to Tavernier Creek giving it great access to both the ocean and the bay.

2950 Yellowtail Drive – sold for $730,000

Sold listings include a magnificent home on the open water in Marathon. This 3 bedroom, 2 bath home sits on over 15,000 square feet of land and also features an in-ground swimming pool. It was bank owned at the time of sale. It was listed for $760,000 and sold for $730,000.

To view the listings, follow the links below:

New Listings
Pending Sales
Sold Listings

Listing information gathered from the Florida Keys Multiple Listing Service. Listing links will automatically expire after 5/4/2012.

Bahia Honda • Florida Keys • Overseas Railroad • The Green Mile Bridge • March 26, 2012

The Bahia Honda Bridge – Home to a new “green” resort?

by Tracy Larson

The Old Bahia Honda Bridge

The old, no longer used bridges of the Florida Keys Overseas Railroad are icons illustrating the unique history of our island home. While some have been converted into fishing piers, others battle the elements in a test of time.

Proposed Resort atop the Bahia Honda Bridge

A European development group, Legend Systems Group, has a vision to build a “green” resort atop one of the most recognizable bridges in the Florida Keys – the old Bahia Honda Bridge.

Proposed Resort atop the Bahia Honda Bridge

Dubbed “The Green Mile Bridge”, plans call for approximately 300 rooms of various sizes and budgets, along with three to four restaurants and five to six bars, two transparent swimming pools and a variety of shopping venues. A noiseless “train” will deliver people along the bridge to their rooms and entertainment spots.

The developer submitted a modest proposal to Governor Rick Scott in October, which was forwarded to to the state Department of Environmental Protection’s Division of Recreation and Parks.The State did not immediately reject the proposal.

The old Bahia Honda Bridge, is on the National Register of Historic
Places and is considered part of the Florida Keys Overseas Heritage
Trail.

How will the residents of the Keys react to one of it’s beloved icons being turned into a modern resort?

Learn more about the proposed resort at:
http://www.legendsystems.eu/green-architecture/bahia-honda-bridge-florida/

Bahia Honda • Florida Keys • Overseas Railroad • The Green Mile Bridge • March 26, 2012

The Bahia Honda Bridge – Home to a new “green” resort?

by Tracy Larson

The Old Bahia Honda Bridge

The old, no longer used bridges of the Florida Keys Overseas Railroad are icons illustrating the unique history of our island home. While some have been converted into fishing piers, others battle the elements in a test of time.

Proposed Resort atop the Bahia Honda Bridge

A European development group, Legend Systems Group, has a vision to build a “green” resort atop one of the most recognizable bridges in the Florida Keys – the old Bahia Honda Bridge.

Proposed Resort atop the Bahia Honda Bridge

Dubbed “The Green Mile Bridge”, plans call for approximately 300 rooms of various sizes and budgets, along with three to four restaurants and five to six bars, two transparent swimming pools and a variety of shopping venues. A noiseless “train” will deliver people along the bridge to their rooms and entertainment spots.

The developer submitted a modest proposal to Governor Rick Scott in October, which was forwarded to to the state Department of Environmental Protection’s Division of Recreation and Parks.The State did not immediately reject the proposal.

The old Bahia Honda Bridge, is on the National Register of Historic
Places and is considered part of the Florida Keys Overseas Heritage
Trail.

How will the residents of the Keys react to one of it’s beloved icons being turned into a modern resort?

Learn more about the proposed resort at:
http://www.legendsystems.eu/green-architecture/bahia-honda-bridge-florida/

closed sales • Islamorada • Marathon • new listings • Open Water Views • pending sales • real estate market • Tavernier • March 19, 2012

Real Estate Activity in the Florida Keys from March 5th to March 18th, 2012

by Tracy Larson

Spring break is in action here in the Keys, giving many of our local businesses some much needed business. At the same time, we are in “season” for the real estate market. 198 new listings came on the market in the last two weeks, 82 properties sold and a whopping 140 properties went under contract.

New Listing – 216 Treasure Harbor Road

One of the new listings is my new listing at 216 Treasure Harbor Road. This cute conch home has already generated a little buzz, with several calls and showings. It’s a 2/2 home on a protected harbor in Islamorada, offered at just $650,000. For more information, visit www.216TreasureHarbor.com

Pending Sale – 2950 Yellowtail Drive

Pending sales include a gorgeous bank owned property in Marathon on the open water, with great views of the Atlantic. It is in fantastic shape and even has a pool overlooking the ocean. It was on the market for just 86 days when it went under contract.

Sold Listing -200 Thompsonville Road

Closed listings include a 3/2 home on a quiet lane in Tavernier. 200 Thompsonville Road just sold for $140,000. It has a screened porch, large rooms and is close to everything in the Tavernier/Islamorada area. It was listed as a short sale.

For more information follow the links below:

New Listings
Pending Sales
Sold Sales

Listing information gathered from the Florida Keys Board of Realtors. Listing links will automatically expire after 4/18/2012

closed sales • Islamorada • Marathon • new listings • Open Water Views • pending sales • real estate market • Tavernier • March 19, 2012

Real Estate Activity in the Florida Keys from March 5th to March 18th, 2012

by Tracy Larson

Spring break is in action here in the Keys, giving many of our local businesses some much needed business. At the same time, we are in “season” for the real estate market. 198 new listings came on the market in the last two weeks, 82 properties sold and a whopping 140 properties went under contract.

New Listing – 216 Treasure Harbor Road

One of the new listings is my new listing at 216 Treasure Harbor Road. This cute conch home has already generated a little buzz, with several calls and showings. It’s a 2/2 home on a protected harbor in Islamorada, offered at just $650,000. For more information, visit www.216TreasureHarbor.com

Pending Sale – 2950 Yellowtail Drive

Pending sales include a gorgeous bank owned property in Marathon on the open water, with great views of the Atlantic. It is in fantastic shape and even has a pool overlooking the ocean. It was on the market for just 86 days when it went under contract.

Sold Listing -200 Thompsonville Road

Closed listings include a 3/2 home on a quiet lane in Tavernier. 200 Thompsonville Road just sold for $140,000. It has a screened porch, large rooms and is close to everything in the Tavernier/Islamorada area. It was listed as a short sale.

For more information follow the links below:

New Listings
Pending Sales
Sold Sales

Listing information gathered from the Florida Keys Board of Realtors. Listing links will automatically expire after 4/18/2012

At Home With Diversity • Certification • NAR • Realtor • Training • March 14, 2012

New Certification – At Home With Diversity

by Tracy Larson

I’m proud to announce that I have just achieved the At Home With Diversity certification offered by the National Association of Realtors.

At Home With Diversity® is an educational experience designed to present
a picture of the changing face of the real estate industry. More
importantly, the class teaches REALTORS® how to work effectively with —
and within — a rapidly changing multicultural market.

The marketplace is diversifying every day. Immigrants and minorities are
a major source of business for the real estate industry. According to
the Selig Center for Economic Growth at the University of Georgia, the
total minority buying power in the U.S was $1.5 trillion in 2002.
Homeownership rates among immigrants are also rising at rates such that,
minorities will account for an estimated two-thirds of the new
household growth in the United States in the next ten years.

At Home With Diversity® was the first step in a process NAR began in
1998 to enhance the association’s comprehensive diversity initiative to
better accomplish its goals. Specifically, the training enhances the
ability those involved in the real estate transaction to develop clients
and customers in the growing immigrant and minority population.

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