Tuesday, March 25, 2008

Northern Lights Coming to Southernmost Point?

According to an article in the latest issue of Wired Magazine, the Sun is entering a more volatile period, characterized by "solar windstorms" - sunspots that bubble and send plumes of "electrons, protons, and heavier ions toward Earth at nearly the speed of light." (The photo shows the sun "flaring")

Periods of higher sun storm activity occur roughly every 11 years and can cause problems with electrical grids, television broadcasting, and satellite communication.

The peak activity from this storm is predicted for 2012.

Interestingly, the article notes:
"Auroras occur when waves of charged particles light up gases in the upper atmosphere. As more particles stream in, the so-called aurora oval grows, bringing the "northern lights" as far south as Key West."
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Wednesday, March 12, 2008

Chart: Key West Real Estate Declines Worsening

According to a chart provided by Zillow.com, the Key West, Florida residential real estate market is still in a steep decline which has worsened since late-January. The chart, pictured above, details "Market Value Change" in residential real estate over the past 12 months for Key West and the 33040 zip code.

The Key West real estate market is still flooded with inventory (more is in development) and sales are slow. As of this morning, 1053 properties are listed in the residential category of the Key West MLS.

Also noteworthy is that minimum price-per-unit has fallen to levels not seen in many years. For example, currently listed are condos that are listed for as little at $159,000. Just a few years ago, you'd pay twice that, minimum, for anything residential.

Key West is not immune to the foreclosure wave hitting the United States. The nation's biggest mortgage lender, Countrywide, currently lists 8 Key West properties they now own, due to foreclosure, for sale on its website.
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