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Originally Posted by Simon
For Key West the average price was $953,000. And these are just regular houses, on small lots, most without direct open water access. (Then just try to get full insurance coverage for all wind/water damage.)
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Remember the buyer that buys places like that. They may carry a mortgage only because they have better places for their money. They can write a check to pay off the house.
Right now, in an area east of us, houses sell in the multi millions. Realtors have said that as interest rates have risen, they haven't seen any drop in sales -- whereas realtors selling houses to the working man have said sales have dropped tremendously. In fact, if I recall one of the articles, most of the multi-million dollar homes on Manalapan don't even carry insurance -- and that's where
's Mara Lago is -- which he just put on the market for $125m.
Good morning... back to the grind for me.