Duck Key Community Archives 2007

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Community archive material has been separated by year. This page contains information for

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MONROE COUNTY RECORDS - DUCK KEY PROPERTIES SOLD FROM JANUARY 2007 to DECEMBER 2007

Sold - 5033 Sunset Village conch villa on 05/04/2007 for $248,500 for Quick Claim.

2014 Marina Villa - original price $1,195,000, Sold for $924,500 on 12/2007, previously SOLD on 4/19/2005 for $865,000. earlier Sold on 12/1997 for $199,900

147 Indies South - sold for $425,000 on 11/15/07, previously sold for $810,000 on 7/26/2005

5052 Sunset Village Dr - Sold for $475,000 on 10/07, previously sold for $295,000 on 07/2001

4401 Marina Villa Drive - sold for $395,000. 10/15/2007

188 Indies South - Sold for $1,150,000 on 10/5/2007, previously sold for $1,700.000 on 2/2007, now listed for sale at $1,650,000.

178 Indies South - Sold for $1,275,000 on September 26, 2007, original price $1,695,000

272 West Seaview Drive - sold for $1,425,000 on 9/12/2007, previously sold for $1,060,000 on 10/2006. Prior to selling for $1,060,000 in 2006 had been listed at $1,395,000 then $1,350,000

6006 Marina Villa Dr. - Sold for $425,000 on 09/14/07 by Washington Mutual Bank, original price $869,000, had been LIS PENDENS in December 2006,

416 Harbour Dr - Sold for $1,700,000 - 8/30/2007, original price $1,850,000

5113 Sunset Village Dr - Sold for $510,000 on 8/28/07, original price $699,000

7013 Harbor Village Drive - Sold for $450,000 on 8/27/07, original price $499,000

316 East Seaview Drive sold for $1,350,000 - 8/15/2007, original price $1,799,000 1/2006

239 West Seaview Circle sold $670,000. 6/12/2007

8301 Marina Villa Drive - original asking price July 2006, $899,000. Relisted at $599,000, sold for $550,000. 6/26/2007

305 Calamondin Street - list price $2,900,000, sold $2,800,000. 5/10/2007

5063 Sunset Village - Hawk's Cay original price $725,000, sold $497,500. 5/09/2007

5033 Sunset Village - sold $248,500. 5/04/2007

5059 Sunset Village Drive - Hawk's Cay listed for $517,000, sold $475,000. 4/23/2007

235 West Seaview Drive - sold for $670,200. 3/15/2007

Hawk's Cay Villa # 7014 - original price $599,000 - sold for $480,000. - 3/09/2007

Singh Company sells Hawk's Cay Villa # 7064 Harbor Drive - list price $1,000,000. Sold February 16, 2007 to to BH/NV Hawk's Cay Property Holdings for $1,600,000

Hawk's Cay Investors sells Hawk's Cay Resort for $79,000,000. to BH/NV Hawk's Cay Property Holdings on 2/16/2007

Singh Company - 4 sign parcels sold for $1,600,000. to BH/NV Hawk's Cay Property Holdings - February 14, 2007

254 West Seaview Dr. - listed at $1,395,000 - sold for $1,375,000 - 2/2007

Hawk's Cay - Villa 7046 Harbor Drive - Sold - January 2007 for $612,500. Previously sold for $695,000 in November of 2004

4403 Marina Villa Dr. - listed for $1,200,000 - sold for $950,000 - 1/ 09/2007

1. Florida Keys, Key West and Duck Key Real Estate News 2006 - The story is high home inventories, reduction in the number of sales, price reductions, and foreclosures. To see extent of price reductions review property listings by island.

Table below shoes number of properties sold by year for the Florida Keys. Shown also are the average sale price as well as the rise in inventory of properties for sale.

2. Hawk's Cay Resort has found an interested buyer, the Northview Hotel Group. Hawk's Cay Village Association Annual Meeting January 27, 2007 at 9:30 A.M. in the Conference Center at Hawk's Cay. Owners to meet representatives of Northview Hotel Group. Northview plans to unveil their renovation plans at the meeting.

3. Below is a modified screen shot taken from the fall 2006 issue of "Tropical Breezes", an award winning newsletter produced by the Coldwell banker Schmitt Real Estate Company. It provides a vivid picture of the average sales price for homes in the Florida Keys (red line) in contrast to the price Nationwide (blue line) from 1960 to September 2006. For the complete picture with details see Real Estate Market News in the "Tropical Breezes" newsletter. The newsletter provides a Keys-Wide Overview of real estate market activity. In addition to charts on sales activity, there is an article focusing on the positives occurring in the real estate market. Home valuations accelerated between 2000 and 2005.

8. Duck Key Real Estate News - Summer 2006 - The Monroe County Online Data Center may be used to find information on sales of homes and properties on Duck Key. Using the Online data Center you can find detailed data on past owners of homes and when a property changed hands together with the records book and page numbers for properties.

10. Monroe County Records also provides Maps of Duck Key presenting a visual representation of real estate sales for years 2002, 2003, 2004, 2005, and 2006. These are available through Online records in a larger format and can be expanded in size still further for viewing. It is interesting to see the differences in sales from year to year. To see a smaller representation provided by Duck Key Online of real estate activity go to the yearly links above.

11. Vicki Shearer, Duck Key homeowner, served as the city expert for Key West information on the new website Home&Abroad. Go to http://www.homeandabroad.com. Biography for Vicki here. Dick Adler was the photographer for Key West images, biography here.

For the most part the asking price have stayed relatively unchanged for residential homes on Duck Key . A few motivated sellers have dropped their asking price. More homes are listed for sale than during prior months. Hurricanes, increased taxes, and the cost of windstorm insurance are motivating factors.

For investment and vacation properties on Indies Island price reductions have occurred. Some owners have removed properties from the market, which has lowered the inventory of villas for sale.

In other regions of the United States, realtors have considered burying statues of St. Joseph to increase sales? Only half the real estate agents in the Florida Keys have sold a property in the last year. For more on this trend go to St. Joseph Home Sale Kits.

13. FORECLOSURES - NOTE: An IRS auction for the property at 4401 Marina Villas Drive, Duck Key, FL was held from 3 – 6 PM on Friday, November 17, 2006. Additional Information Link

Florida led the country in new foreclosure filings in October. In November Florida reported the third highest foreclosure total. Over 9,300 properties in November entered some stage of foreclosure, up more than 5 percent from November 2005.

Foreclosure rates for Florida soared for many areas of the state. The December 2006 increases in the foreclosure rate over the prior financial quarter for Miami-Dade County and Broward County were 25 percent and 23 percent respectively.

Below is Yahoo's representation of properties on Duck Key and Marathon reported to be in some step of foreclosure. Properties located on Duck Key at 188 Indies Drive South and 147 and 157 Indies Drive South were listed under Civil records of Monroe County. Additionally a villa at Hawk's Cay recently received a "Lis Pendens" document. Lis Pendens is an initial document filed by an attorney or trustee on behalf of the foreclosing lender that starts the foreclosure process. There are dozens of properties listed under foreclosure on the Yahoo real estate foreclosure page.

1. Hawk's Cay sold February 16, 2007 to venture group. Venture partners, Behringer Harvard, Northview Hotel Group and Five Star Realty Partners LLC, buy Hawk's Cay, and plan to redevelop Hawk's Cay through an extensive renovation and rebranding program to compete with other resorts along the Coast. Behringer Harvard reports it owns a 90 percent stake in the venture. Northview will head up the redevelopment efforts and operate the property going forward.

Renovation presentation no longer available on net - The presentation made to Hawk's Cay Villa owners by Northview Hotel Group on January 27, 2007

3. Material on the Newkirk family in the Duck Key history section has been greatly expanded. Duck Key Mecca

5. Building Permit Requests - Who is waiting for building permits? Image of the residential dwelling unit pre-allocation ranking for Duck Key. (Remember ROGO). Also possible tax consequences from "takings" presented on Attorney Jim Mattson's website.

6. Truman Bridge Vandalism. Not long after the ornamentals were replaced vandals toppled them again. It always seems to happen during some school holiday period when the resort is at capacity. Maybe the resort should pay for replacement of the bridge ornamentals instead of the Property Owners' Association .

For more go to Real Estate News - Facts and figures on residential home sales. (Duck Key trends, Florida Keys, Tropical Breezes, Economic trends in Monroe County, Real Estate Bubble)

3. Waterfront today, water tomorrow! Climate Change in the Keys - Animation showing 1 meter sea rise and effects on the low lying Florida Keys (Key Largo and Key West) should climate change affect sea level.

The chart below shows the imbalance between inventory of homes for sale and the number sold.

September 2007 Real Estate News - Facts and figures on residential home sales. (Duck Key trends, Florida Keys, Tropical Breezes, Foreclosures, Economic trends in Monroe County)

6. Buy High Sell Low - Details on some Hawk's Cay villa properties bought two years ago that have been sold for less than what investors paid for them. Also properties in Duck Key and Key West selling for less than the purchase price.

7. Island Noteables - Claudia Milne and Mike Whittaker won the prestigious 2007 BAFTA, British Academy of Film and Television Arts award for the Best Feature series "The Choir". To learn more about Claudia and Mike and some other island residents, past or present, go to Noteables.

To read his article and to visualize the impact of the rise in sea level follow the link to Coastal Maps

1. Expanded material on Duck Key builder Bryan Winslow Newkirk. Interior design images of the Newkirk home from 1958 Architectural Digest.

2. October News Release on Behringer Harvard - Since Behringer Harvard announced that it had acquired a majority interest in the Hawk’s Cay Resort it has made a number of other acquisitions. One of interest is it partnership in the development of Royal Island in the Bahamas. Behringer Harvard continues to invest billions of dollars in commercial real estate.

Duck Key Online Community Archive 2007