327 Margaret Street Key West FL

     I have had my eye on this 4 unit property on Margaret Street in Key West for some time now.  It has been on the market at least since last November when I viewed it with my Key West agent, Suzanne Washburn of Coldwell Banker Schmitt.  Back then the price was $729,000, which I felt was much too high.  Recently, the seller dropped the price to $499K and subsequently, the property went under contract.  Fortunately, for me, not for the seller, it came back on the market when inspection issues caused the deal to go south. 

 

     I love the location of this property and feel strongly that now it is priced correctly and is a good value somewhere between 400K and 500K.  I only hope that it will still be available for me to purchase when I can get my NH home under agreement.

Posted via email from New Hampshire Home

Absence

Wow, where I have been all this time? It's been over a year since I first had the inkling that I wanted to begin blogging about Real Estate in NH. Although my intentions were good, at the time, I was teaching full time in the evenings and practicing real estate full time the rest of my free hours. Now that I have put teaching on the back burner, I have been able to recommit myself to just working on real estate and boy have I been busy. I know that all I read about and all that I hear about from others, is "The market is terrible." However, I have had my most productive year thus far and I wasn't even selling when the market was "good". I have been talking to my husband about taking the course and getting in on the action, because I really need his help.

All of this has required me to work some pretty long days and basically going 7 days a week right now. It will all pay off in the end, though. I like the analogy that Brian Tracy provides on one of his motivational sales audio discs: It goes something like this but I paraphrase of course.....

"Becoming successful in any sales field is very much like flying an airplane. Before you can fly the plane, you have to begin by taxiing down the tarmac. Once in position, you have to really rev the engines and give the engine full throttle in order to gather enough speed to become airborne. The throttle must remain wide open with the engines roaring in order to attain proper altitude and speed. Once aloft however, you can cut back on the engines and allow the plane to cruise and sometimes glide because of all the power used at the take off. Just like in sales when first starting out, you have to give it all you have so that like the airplane you can achieve that cruising altitude of contacts, prospects and referrals.

I am loving this business and for the most part have had the opportunity to meet some great people with whom I have been able to develop very good friendships. I will write about some of those encounters here as well as what is currently going on in our local market.

Despite all of the doom and gloom that you hear, this is a very opportunistic market for investors. Property is most likely very near the bottom of the tub and if not at the bottom, then it is definitely circling the drain. More and more of my clients are investors, who sense it as well and are positioned to begin buying up real estate again. Every day, just in our area, there are 2-3 new bank owned properties new to the market. One person's misfortune can be another's gold mine.