Sandy Cove Basin Property with Ground Level House
Lower Matecumbe in Islamorada still holds that wonderful feeling of the old Florida Keys. There are only a few places left in Islamorada that can be made into a family compound. Some of these properties are on the wide Sandy Cove basin on Lower Matecumbe. This is a hidden protected deep water area on the bay side with immediate access to the bay as well as the ocean. You are able to walk out your rear door step on to your boat and be in the ocean through Channel Two bridge or straight out to Flamingo for all the back water fishing you could want. This is often refereed to as a Boaters Paradise in the Upper Florida Keys.
I just listed a Lower Matecumbe property with an island style three bedroom two bath Keys classic home located on the beautiful waters of Sandy Cove basin. Drive thru the gates, and you feel you have entered your own private compound.
I see potential is this property. And I do think property, rather than home. This property has the location, the foliage, the privacy, and the rare “grandfathered” ground level home. It has extensive deep water dockage with the ability to easily dock three large boats in a protected basin. A boat ramp to launch a small boat or pleasure craft is also located on the property. This is a property that is timeless with added features.
While the existing house is ready to go, some may think differently. I say the house simply needs a little imagination and a little love. There are only a few properties that are able to be re-developed, due to changes in zoning and buildings codes. With it’s CBS construction and Old Florida Pine cathedral ceilings, this house has potential. I see it as a diamond in the rough. The kitchen has been updated and is placed conveniently at the back of the house for easy access to the backyard, patios and dock. The bedroom, bathroom floor plan needs to be reworked to meet today’s standards. But with a little imagination and a few bucks this could become a grand estate for a family or retirement. You would love it here!
Florida Keys Flood Insurance Update
Florida Keys flood insurance can be a bit complicated to understand. I recently attended a local florida keys flood insurance meeting. This explained important changes in the National Flood Insurance program. I am finding that Home owners Flood insurance is like all insurances, a bit complicated and a moving target. October 1 2013 will bring massive changes in Florida Keys flood insurance rates. These premiums will see an average increase of five percent for policies written or renewed on or after October 1, 2012.
Effective October 1,2013 the National Flood Insurance Program will no longer provide any extension of premium rate subsidy to certain Pre-FIRM policies. These properties will be subject to full-risk rating. These properties will require an Elevation Certificate including photos in order to determine full-risk rating using the current FIRM Official map of a community. The most affected customers are those that have structures with a Pre-firm status.
“Post-FIRM Building – A building for which construction or substantial improvement occurred after December 31, 1974, or on or after the effective date of an initial Flood Insurance Rate Map (FIRM), whichever is later.”
The implementation of the new rate structure will include a 25% rate increase for non-primary/non-principal residences that are Pre-firm construction and located in any A or V flood zone.
Premiums will increase an average of 13% for all preferred risk policy’s written or renewed on or after January 1 2012.
Structures that were built in compliance and have a construction date that is on or after the community’s initial FIRM date and before Janurary 1, 1975 are still eligible for build in compliance grandfathering.
All premium’s are controlled by build date of construction and location of the home. FEMA has an excellent web site that explains all these details and terminologies .
This is intented for overview purposes only, For complete underwriting rules and guidelines,
please refer to the NFIP Manual
Islamorada Real Estate Listing Agents
I have spent the last few days with my Islamorada real estate buyers from out of town. They are looking for a vacation home in Islamorada in the Florida Keys. They know the area and are informed, qualified and motivated. This is a couple of buyers that every listing in Islamorada in their price range should want to show. Their schedule is tight and their focus is keen. The first showing cut comes from the MLS listing and how the home shows on the internet. The best internet showing home move into the next round where the sellers real estate agent comes into the ring. In this round, I encounter a wide variety of Florida Keys real estate agent styles when representing their home sellers.
Wow, what a diverse group of agents. While the majority of the Islamorada real estate listing agents are wonderful and professional, I dealt with a few that made me wonder, what the home seller was thinking when they selected their listing real estate agent. Possibly they felt that the home would sell itself. I don’t think so. The truth is, the listing real estate agent is a key ingredient in how the home for sale is presented to the potential buyer.
The first most important factor is that the home is available for showings. It is the real estate listing agents responsibility to coordinate their schedule with a buyers tight schedule and work with the the sellers schedule as to its availability and oh yes…showing condition. The listing agent must assure that the listing does not miss out on any valuable showings. My out of town buyers are only in town for a short period of time. Time and schedule are crucial. I want to be sure that they get the best viewing opportunity.
Next, the listing agent must receive the buyer in a professional manner so that the home stands alone…or should I say stands out. The listing agent must assure that the home shows well. They must add value to the showing. History, features and important information about the house need to be readily available to me, the buyers agent and also the buyer.
My buyers come into town to search for their dream home in Islamorada in the Florida Keys. I clear my schedule for them. Every showing counts and first impressions matter. I do my best to select the homes that meet my buyers needs and interests. I must then coordinate with each individual listing agent. Each are as different as the homes for sale. Their approach, schedule, experience, knowledge and attitudes all come into play. I fit the listings together to form a smooth time table of house viewings. A day well spent searching for that one special home in paradise.
With any luck ( and I don’t mean luck) I get a new neighbor in Islamorada in the fabulous Florida Keys!