Thursday, April 10, 2008

Chart: Foreclosures in Key West's Most Expensive Neighborhoods

According to a map of Key West generated by the RealtyTrac website, Key West is still deeply in the midst of a foreclosure wave. This will continue to pressure prices for at least the foreseeable future.

A search of the Key West zip code (33040) on the RealtyTrac website returns 646 properties: 171 pre-foreclosure, 22 auction, 87 bank-owned, 23 for-sale-by-owner (FSBO), and 343 resale homes. The chart, above, shows all the properties in various stages of foreclosure (except the "resale" properties).

As the chart shows, many of the pre-foreclosures are in Old Town, the most expensive part of the island - an area thought to be more immune to foreclosures and dropping prices.

Click on the map, above, to see a larger view.
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3 comments:

Ben said...

Sweet, its going to be years before this all gets sorted out

REPO4SALE said...

Experience=3ups & 3 down markets!
2006=3months=drove Hurricane states
Fl Ga Al Mi La Tx & my conclusion!
1-Top of market, fools drowning!
2-Govt. paying 4 Damaged!
3-Everyone on Debt-Meth!
4-I said 2-3 years to Crash!
5-Everyone laughed at me!
6-I had millions to invest!
7-Avg=47%/mo 198sales 00-07!
8-Owners Sucking AIR till 2014!
9-I'll travel & earn 25% till 2010!
10-US Govt=Crack Whore on DEBT!
11-Good luck everyone!

OldKeyWester said...

Cayo,

Hello from up North. Wanted to know if you heard anything about lawsuit filed against the city of Key west last week for 25 million. A close friend said she saw it briefly and its similar to duck tours suit? Please key me know it would be sad for the citizens of key west to go through another BIG loss like duck tours....