This year’s record-low mortgage rates sparked high demand among homebuyers. Current homeowners, however, haven’t put their houses on the market so quickly. This makes finding a home to buy today challenging for many potential buyers. With an obstacle like this, those searching for their dream homes may be pressing pause on their searches as we approach the end of the year, but that could be a big mistake for many hopeful house hunters. Here’s why.
According to the most recent Housing Trends Report from the National Association of Home Builders (NAHB):
“The length of time spent searching for a home continues to grow.”
The report indicates that 62% of buyers now spend 3 months or more looking for a home, an increase from 58% one year ago. A primary cause for the delay is the heavy competition today’s buyers face when making an offer on a home. Based on recent data from the National Association of Realtors (NAR), the average house in today’s market receives 3.4 offers before it’s sold. This means for every buyer who purchases a home, there are on average two or three buyers who have to begin their search all over again.
Compared to this time last year, the NAHB report shows that buyers are having more success finding homes in their price range. However, it also notes the percentage of buyers saying they’re getting outbid when they make an offer has jumped from 15% to 27%. Buyers are indicating that bidding wars are a major obstacle to finding their dream home (See graph below):If this is a challenge you’re up against in your home search, you’re not alone. Feeling stuck in the process can be frustrating, but if there’s ever been a year to power through, this is the one. NAHB noted:
“Difficulties finding a home to buy will likely lead 20% of active buyers to give up until next year or later. That share is up from 15% a year earlier.”
Experts anticipate home prices will continue to rise into 2021, and the incredibly low interest rates we’ve seen this year are also forecasted to increase as the economy strengthens. Hopeful homebuyers who decide to hold off on their search until there’s less competition run the risk of finding a more expensive housing market when they start looking again. If affordability is a key motivator behind your decision to buy a home, this winter is still the best time to make it happen.
Bidding wars may be one of the greatest challenges buyers face in today’s housing market, but they shouldn’t be a deal-breaker. Having the right expert on your side throughout the buying process will give you the advantage you need when it comes to finding the right home and making a competitive offer. If you’re ready to buy this winter, let’s connect to discuss how to position yourself for success.
Join in Lobstermania at the Ocean Reef Club this July 29th and July 30th.
VALUABLE INFORMATION - Link to Monroe County Sheriffs Office Lobster Mini Season Information
This July 29 marks the beginning of Ocean Reef 'Lobstermania.' Although it's a short two day precursor to the official opening of Lobster Season in August, it's the perfect reason to indulge in a month-long rental or purchase of a home at North Key Largo Real Estate's private fishing and golf club. How else will you catch and consume your delicious fresh Florida Spiny Lobster?
LOBSTERMANIA - untangle the secret of how to net the right sized bug...and you get a madcap weekend full of fun competitions, prizes and activities. It's always the last Wednesday and Thursday of July - when the Florida Keys in general and Ocean Reef Club in particular, go crazy for lobster.
Members of the Ocean Reef Club and their guests are offered two days to forage and then feast! While the focus is on the hunt for lobster – there is life beyond the bug.
Lobstermania, for those who want to relax as the festivities unfold offers an alternative schedule. But for the adventuring crustacean hunters among you - once you have your bag limit - drop your catch off by 5pm and return later to enjoy a freshly prepared dinner.
LOBSTERMANIA TWO-DAY COMPETITION WEDNESDAY, JULY 29 & THURSDAY, JULY 30
9:00AM – 4:00PM
Heaviest lobster wins in this two-day competition. Bring your bugs to the weigh scale outside Orvis, dock side to enter this complimentary competition. Details: 305-367-6526
THURSDAY, JULY 30 5:00 P.M.
All weigh-in participants invited.
WEDNESDAY, JULY 29 & THURSDAY, JULY 30
ISLANDER, GIANNI & BURGEE BAR
Drop your lobster off by 5:00 p.m. and return to enjoy a succulent dinner, freshly caught with your own two hands.
Link to Florida Fish & Wildlife Conservation Commission Lobster Mini Season Informational Film by FWC Officer Bobby Dube
Beyond the excitement of a fresh-from-the-ocean delicacy only available here in the Florida Keys, there is everything else to love. When you can fly right into the Ocean Reef Airport's private 4,000 ft runway, perhaps it isn’t unreasonable to throw your catch in a cooler and bring it home with you.
But why leave when the good life and luxury surround you? The immaculately tended, well-masterminded homes, the nature, the azure blue water that wraps and weaves its glistening way throughout this North Key Largo private fishing and golf club all beckon you to stay.
LAUNCH YOUR BUG HUNT FROM YOUR DOCK & GO
The scene here fits perfectly with the concept of epic Yoga sunrise and sunset poses. Whether you want to hunt lobster or immerse yourself in golf, fishing, tennis or croquet. The hustle of Miami is 60 miles away! And the rich culture, both literary and piratical, of Key West is 120 miles straight down US1.
And although the Ocean Reef Club marinas are occasionally home to south Florida’s largest collection of mega-yachts, the way the Equity Members feel about keeping their sanity intact, it’s no surprise it’s incredibly peaceful and with a dress code, rather well-heeled.
Truly, the Ocean Reef Club is a place in which to invest. This is a one-of-a-kind experience that many do find difficult to leave behind. So the quandary is to buy and live, to buy for investment, or to rent once in a while?
As ‘Lobstermania’ presents the good life, and a perfect opportunity to sample the adventure surrounding you here with a test of one's bug hunting skills. It also offers the opportunity to contemplate one's options.
Michael Watson MLL Career Highlights
Hi There! My name is Michael, brother of Bobbie & Christina Watson. I am a Baltimorean and proud graduate of the University of Virginia where I was a 4X All-American lacrosse player. Lacrosse has always been a big part of my life. I went on to represent my country as a US Team World Champion, played 10 years professionally, and am currently a member of the National Lacrosse Hall of Fame.
I began my real estate career in 1999 in beautiful sunny San Diego -where my love for the ocean was rivaled only by my appetite for good Mexican cuisine. I spent the early part of my career representing buyers and sellers in the mid-size multi-family properties. I moved on to Director of Acquisitions for a private equity firm focusing on residential condominium conversion development in the San Diego, Phoenix, Las Vegas, and Austin markets.
Although I loved the northern beaches of Cardiff/Encinitas and never thought I would leave my oasis by the sea, the family ties here in ORC kept calling me back east. I traded one paradise for another and brought with me a diverse real estate skill set in commercial apartment brokerage, office & condo development, and residential sales to the team at WLP.
I have been coming to the Ocean Reef Club since birth as the son of long-time members, Jim & Joan Watson and now I am happy to call it home. My clients rely on my strong work ethic, positive competitive spirit, combined with a calm demeanor. I have built a strong referral network by remaining devoted to my clients and always being someone who they can count on. Staying true to these values has allowed me to grow quickly within the Ocean Reef community where I support our local businesses by serving on the board of the Ocean Reef Chamber of Commerce
If I’m not out showing property I can be found on the golf course, boating, or playing tennis. If I am not getting my exercise in the great outdoors you can find me at our state-of-the-art fitness center where I enjoy the boot camp, yoga, and spin classes. Anything else you would like to know just ask. My door is always open.
Visit Michael Watson on Linkedin Visit Michael Watson MLL Career Highlights on YouTube
#celebritylacrosse #allamericanlacrosse #lacrossehalloffame #michaelwatsonlacrosse #oceanreefviews #OceanReefRealEsate #OceanReefRentalProperties #KeyLargoRealEstate #watsonorc #realestate #luxurycondo #luxurylife #oceanreefclub #keylargorealestate #floridakeysrealestate #watsonluxuryproperties #marketing #realestatemarketing #newlisting #view #northkeylargorealestate
Come and see North Key Largo Real Estate at the Ocean Reef Club. Enjoy the fabulous family friendly festivities on offer.
To keep up with the Watsons follow their antics on Instagram and Facebook. Staying up to date with events on The Reef in these interesting times has never been easier with the Ocean Reef Press. Don't lose sight of home prices and new listings in this always interesting marketplace.
Watson Luxury Properties is based at Ocean Reef, right on the Golf Course! We are North Key Largo Real Estate's property experts who really 'Know The Reef.'
We know Real Estate at the Ocean Reef Club as well as Ocean Reef Club Rental Properties. Specialists in a broad field for many decades, our family team can help you with your investment or home search.
Perhaps you began your search in the nearby Key Largo Real Estate market but didn't find what you were seeking. Allow us to help you find your home in North Key Largo Real Estate's exceptional family-oriented environment.
Watson Luxury Properties at Ocean Reef Club - has been member owned and family operated since 1998
'Where Quality Service Is A Family Value'
The Watson family adheres to this adage, doggedly. We deliver client services with consistent levels of excellence.
Ask us anything, with over 50 years of combined experience in North Key Largo's exclusive Ocean Reef Club Real Estate sales and rentals, we 'Know The Reef!'
Our team is never happier than when we are out on property showings. Whether it is a water view, a slot for your boat or a peaceful golf course abode, we just know we have the perfect spot for you.
The Reef's full service marina offers a perfect place to purchase a slip for your boat. It is a world class marina and boasts some of the world's most elegant and quietly famous, beautiful yachts.
13B FAIRWAY LAKES - WITHIN STRIKING DISTANCE OF THE GOLF COURSE
PERFECTLY APPOINTED MARINA SLIPS FOR EASE OF ACCESS
Our two championship golf courses offer open fairways and beautiful foliage - with some challenging greens. What about a game of Golf this Independence Day weekend? Come see a little slice of heaven from your golf cart on our beautiful award-winning landscaped roads and pathways. This oasis never gets tiresome.
MICHAEL WATSON - ALWAYS IN THE SPORTING FRAME OF MIND
Because we are family operated we know a real estate showing is never 'just' a showing.
Please join us for a true lifestyle experience, by way of a showing. If your search for Premium Key Largo Real Estate didn't satisfy your tastes, we are happy to offer Ocean Reef Club Real Estate listings to improve the day.
And if COVID travel is restrictive we offer the ever more popular, increasingly effective virtual 'in person' tours
FABULOUS FEATURE? WE THINK SO! For your piece of paradise think about this water front land. This one is on the market and waiting for you. What an open water view too! Start building your dream home now in the friendly and safe confines of the Ocean Reef Club. We can't say enough good things about this view and the potential for your future enjoyment here.
Of course our family team would love to meet you to discuss your options. Our slower pace can really do wonders for everyone's state of mind. in particular clearing ones own mind to ascertain what is truly going to make you and everyone you love and cherish, absolutely happy.
North Key Largo Real Estate as it is known to locals offers buyers premium listings wrapped in this special environment. Watson's team offer condominiums, and homes with or without yacht slips, as well as waterfront homes, wooded hammock homes and homes with that great Golf Course view.
One feature many love about The Reef is 'safety.' The Reef is a well managed haven of elegance and a way of life that truly welcomes families within the community.
You can find us at 9 Barracuda Lane, Key Largo or call us and we would be happy to meet you socially. Perhaps join us you over the Independence Day weekend. Chat with us during Tee time on the Golf course. Or with lines in the water, we love to spend time in and on the ocean.
Enjoy Summer Golf - or just golfing in general - we've discovered that choosing to get your game right starts here. It really really does. Especially with the Big Cups Golf Tournament. A tradition not to be missed.
From Scott Kirkwood, Director of Golf, from the "Golden Tees""We have an exciting slate of summer tournaments this year, and the next one is coming up on Saturday, July 4. The annual Independence Day Big Cup Golf Tournament will be held on the Dolphin Course.
'You can make your own tee-time on ForeTees and the format will be individual stroke play. The catch is, the holes will be much larger than normal, more than twice the size! See how low you can go with our always popular Fourth of July tradition,' says Kirkwood.
If you are in love with the idea of Golf but cant imagine yourself out there, for love nor money, with no clue what to do. Or have played before but know you can do better, consider a training session with Derek Swoboda, who talks about Bioswing Dynamics and the Blueprint For Your Golf Swing. He is going to measure your Shoulder Plane, Torso Plane and Hip Plane and then you'll get to see how good you can really be.
North Key Largo is our Ocean Reef Club home and here at Watson we are so excited for the upcoming Independence Day 2020 events, primary amongst them would be the fireworks on Buccaneer Island from 9pm to 930pm. If you aren’t scheduling something from the list golf, fishing, shopping, drive in movie, this year it's Robin William's in 'Jumanji' it's not too late to register for Independence Day 2020 Ocean Reef activities.
Or simply arrive and enjoy. And what fabulous choices. Whether it's a new home or a fun Independence Day weekend with family and the possibility of a prime piece of Ocean Reef Club Real Estate. We hope you enjoy the decades of expertise presented to you by the member owned, family operated Watson Luxury Properties team. And we can't wait to meet you. We are here and loving the life, ready to share that enthusiasm with you.
#golfclubabode #boatlsip #yachtmarina #worldclassyachts #internationalairport #waterview #OceanReefRealEsatet #OceanReefRentalProperties #KeyLargoRealEstate #watsonorc #realestate #luxurycondo #luxurylife #oceanreefclub #keylargorealestate #floridakeysrealestate #watsonluxuryproperties #marketing #realestatemarketing #newlisting #northkeylargorealestate #watsonluxuryproperties