Real Estate: Inventory of Unsold Homes Growing Steadily Across the Nation

The nation's inventory of unsold homes - an important component of a more balanced housing market in the second half of 2005 - is growing steadily in many areas of the country even though buyer demand continues strong, according to the latest HouseHunt, Inc., quarterly "Current Market Conditions" survey. The percentage of member real estate agents reporting plentiful vs. limited supplies increased from 33% in the first quarter to 38% in April, May and June.

Exceptions would be South Florida, Arizona, Southern California and certain other housing and job growth hot spots.

Market equilibrium would be attained when the present 4.3-month national housing supply increases to about six months, or about a 50-50 buyer-seller ratio.

Survey results are based on Current Market Conditions sales data reported by HouseHunt's Exclusive Agent Referral Network (EARN) members in 47 states.
Survey results also included:

o Average national home price appreciation slowed to eight to 10% on an annualized basis in the second quarter as compared to higher, more substantial double-digit price increases in 12-month comparisons in the past two to three years.

o First-time buyer activity declined from 40% in the first quarter of this year to 35% in the second quarter even though mortgage interest rates continued near historic lows and funding is available and relatively easy to find in interest-only and other exotic loans.

o Nine of 10 home sellers are getting 95% or more of their asking prices. Nearly half of those are getting 100% or more. An overwhelming majority of sellers are still getting multiple offers.

o Sixty-five percent of listings are selling in 30 days or less.

Michael Bearden, president and CEO, welcomes the near-term probability of a slower-paced, more balanced housing market: "This would be positive news for consumers, particularly for first time and other entry level home buyers. Slower appreciation and a plentiful supply of unsold homes would certainly energize the entire market in all price ranges. It would also dissipate fears of a housing bubble price collapse."

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The Florida Keys and Key West - Getting to the Keys

Getting to The Florida Keys is a whole adventure on its own. Whether you decide to travel by air, land or sea, the experience of entering the island chain and its tropical environment is something that every avid traveler should do at least once.

The best way to admire and get to know the Florida Keys as they really are, is to get there by car. Whether your starting point is Miami or Fort Lauderdale Airport, there are two options you can choose to get to the Keys. You can either take I-95 south until this highway reaches its end and turns into US-1, or you can take the Florida Turnpike extension South to Florida City. The first option is a little slower than the second one; however, it is also slightly shorter.

Taking US-1, all the way to the Keys, is the most preferred route by travelers who want to enjoy the scenery and the change in the environment as you approach the southern tip of the Florida peninsula. At the end of I-95 you will find the Rickenbacker causeway that leads to famous Key Biscayne and Miami Sea Aquarium. A few miles further south you will cross Southeast 17 avenue, which leads to Coconut Grove and its bustling shopping and nightlife atmosphere

As you continue southward on US-1, you will pass the east end of the very Spanish-looking Coral Gables on your right, and and you will also be able to admire South Miami. At this point you can start to see the change in the scenery. Also you will pass by Cutler Ridge and Homestead and its motor complex. About ten minutes after this, you will finally reach Florida City, which is known as The Gateway to the Keys. This will be your last city before you arrive to Key Largo and the upper keys.

Right after you pass Florida City you will reach a crossroad. There, you can either take the famous 20 mile stretch to Key Largo or the lesser known and wilder Car Sound Road. If you opt for the "stretch," you will be in a 2 lane road for 26 miles and the first signs of civilization will be Gilbert's Resort and Marina on Jewfish Creek. At that point, you will also have arrived the first of the 42 bridges connecting the more of 100 main islands that conform the Florida Keys.

If you opt to take Car Sound Road, you will be able to enjoy your ride with views of the ocean and mangroves until you reach the Car Sound Road toll. At the first bridge you will be able to spot a large crowd of fishermen and diving tours on the water. Just a few more miles down the road further south, you will encounter one of the most picturesque sites on this road: Downtown Card Sound Road and its very own Alabama Jacks. A traditional bar frequented by locals and fisherman. After your mandatory stop for the Alabama Jacks photo or cocktail you will drive a few miles south were you will find a stop sign and flashing light, to the left, the road that leads to Ocean Reef Club Resort, make a right turn and you will be driving for about 10-15 minutes of nothing but tropical foliage and the occasional lizard baking in the Florida Sun, you will get to Key Largo in no time and ready to start your unforgettable trip to The Florida Keys.

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