Good Thursday Morning

[Simon]

Good morning world

I think I should put Mohawk on my list of places to check out.

One of the reasons to leave the Keys is that home prices have escalated out of control here. The average sales price for the first six months of 2005 for a home in the Middle Keys was $735,000. 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.)

Seems like there are much better deals in Mohawk, even if you have to add a foundation here and there. The people down here are just crazy to be paying what they're paying right now. The bubble is going to burst here eventually, but in the meantime you have to have more than a few million if you want to play the real estate game here.

Oh well, back to slinging porn.

Good day after hump day to all.


Simon

[cd34]

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.)

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.