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An Information Guide to Duck Key in the Florida Keys



 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

St. Joseph Home Sale Kits and Price Reductions

TIME FOR ST. JOSEPH

Inventories have risen and sales are down. Some experts see a real estate meltdown. "Signs the housing market has lost steam." No buyers and all sellers. Whether you're a buyer or seller right now is an uncomfortable time to think about entering the housing market. The housing boom has ended and some real estate experts believe the market hasn't hit bottom yet. Will the sales rate continue to decline through 2007. Some experts believe so.

Recently, the National Association of Home Builders announced that confidence among builders sank to a 15-year low.

Nouriel Roubini, president of Roubini Global Economics argues that housing will not only collapse, but that the collapse will bring down the rest of the economy. Roubini believes the collapse of housing will lead the U.S. into a recession in 2007, a recession that will be "much nastier, deeper and more protracted" than the 2001 recession. See Roubini

The Federal Reserve Board is watching the housing slowdown closely and find that the market's slowdown has been fairly orderly and smooth. The Board knows that should home prices and sales crash, the overall economy could be in trouble. The National Association of Realtors expects a "soft landing" for the housing sector, but has cautioned the Fed to refrain from raising interest rates again -- as some analysts have said is a possibility.

The survey of home sales in the Florida Keys completed as of June 2006 shows it may be time to resort to St. Joseph. See Real Estate News Florida Keys Summer 2006

When sales are down and the inventory is up some realtors and home owners call upon St. Joe. An article in the Boston Globe published in August of 2006 describes one vendor of St. Joseph statues claiming that he doesn't have to look at economic indicators to know if the real estate market is doing well. All he needs to do is check the inventory of St. Joe statues in his shop. The real estate market is strong if statue sales are slow. Right now home sales are weak so statue sales are brisk. The vendor reported he sold 300 statues in July of 2006 and "can't keep them in stock. Everybody comes in here looking for them. Realtors are buying a dozen at a time." Another Massachussetts store vendor said that her gift shop has sold about a thousand statues since last year.

The Boston Globe article goes on to explain that as housing sales have declined, St. Joseph statues have become the "most popular sale's item, outstripping all the other saints combined — not to mention Jesus and Mary."

Apparently St. Joe statue sales are up 25 percent, all over the United States. The Boston Globe reported that sales doubled over the prior year’s at stjosephstatue.com. Why?

TRENDS

Well real estate experts report that nationally sales of new homes decreased almost 22% in past year. Existing-home sales plunge to a two-year low. July was particularly slow for the U.S. real estate market, with sales of existing homes plunging 4.1%. Economists were predicting a 0.9% decline in sales. The National Association of Realtors reports that home prices have stagnated and the number of homes on the market climbed to a 13-year high.

The owner of stjosephstatue.com reports that ‘‘About a quarter of . . . [ statue] sales are in Florida . . . . ’’ ‘‘The [real estate] market is getting killed there.’’

In the South Florida housing market home sales are plunging and the unsold home inventory is rising higher and higher. The Florida Association of Realtors reports that for July 2006, Miami-Dade single-family home sales dropped 24 percent from June and were 38 percent less in comparison to a comparable period a year earlier. The numbers dropped 16 percent from June and 30 percent from a year earlier for Broward County.

For both counties, homes listed for sale has more than tripled in the past year. Because of this inventory the sellers' market of the past is now a buyers' market. Will sellers cave and lower prices to meet buyers waiting for a better deal?

PRICE REDUCTIONS ON INDIES ISLAND

Prices on Indies Island on Duck Key seem to be adjusting. Some sellers are beginning to recognize the market they are in, and adjusting their asking price accordingly. Other sellers haven't budged and are waiting for buyers to meet their price. Still other sellers have removed their property from the real estate listing.


ST. JOE ORIGINS

According to the United States Catholic Information Center in Washington, D.C, the tradition of burying St. Joseph began in the 16th century when St. Theresa of Avila prayed to St. Joseph for more land for a convent. She asked her order, Discalced Carmelite nuns, to bury their St. Joseph medals in the ground.St. Joseph was the patron saint of the family and household needs. The sisters were successful in getting their land. The news spread, the medals were replaced with statues, and Joseph, unoficially became the saint of real estate.

St. Joseph statues are sold seperately and often as part of a kit . Kits usually include instructions and some kits provide small shovels for the burial. Bags for the burial with realtors or mortgage lenders names printed on them are also included. Instructions tell the realtor or seller to bury the statue in the front yard, upside down, and facing away from the house. Should they bury the St. Joseph statue in the back yard, he goes right side up and must face the house.

The Boston Globe points out that in a shop located in Lowell. Massachussetts the kit included a printed card which explained, ‘‘The power of St. Joseph is in the prayers and devotion to him. You can also increase your chance of selling your home by making sure it is good condition and by asking a realistic price.’’

Once the house is sold some believers think you must dig St. Joseph up and take him with you. Still others believe you must leave the statue leave him in the ground at your old house and purchase a new statue. Everyone agrees you need to give him a place of honor at your new home.

SUPERSTITION?

Two million St. Joseph statues are sold nationally each year.

 

SOME INTERNET VENDORS of St Joseph Home Sale Kits -


www.stjosephtradition.com
www.stfrancisdesales.com
www.goodfortuneonline.net
www.stjoekit.com
www.oblatesusa.org

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