Are home prices dropping in the Florida Keys?

by amyprumo | Apr 13, 2024 | Buyer Information

Florida Keys Real Estate Home Prices

We’re in Spring 2024, and you’re curious if home prices in the Florida Keys are dropping. Well, I’m here to tell you that they are not. Each month, we analyze the numbers across the entire Florida Keys. You can check out our Florida Keys Home Pricing Report on our marketing page. Be sure to sign up if you want the stats sent directly to you via email. On the marketing page, we delve into details about the numbers, but here’s a general overview.

Florida Keys Home Prices Holding Firm

Over the past year, overall home prices in the Florida Keys have remained stable, if not slightly higher than previous years. They are stable, but they’re still quite high! Frankly, in my 15 years of experience in real estate here in the Florida Keys, I’ve only seen prices go up!

Now, I’ll share that we’re experiencing more inventory. During the crazy real estate run, we were down to just 1,300 listed properties for sale. But now, for the first time in years, we’ve broken over 2,000 homes for sale.

We’ve been diligently tracking the number of listings week by week for some time. In March, we observed our highest number of listings, reaching 2,177 homes for sale. Our high season typically spans from January to April, peaking in March, so that seems to be right on track. I suppose only time will tell if that will be our high inventory level for the year.

I’ve started to notice a decrease in prices in the condo market. I believe the condo market has been hit pretty hard with all the new regulations and requirements. If you’re in the market for a condo and you’re not familiar with all the new laws and regulations, you should definitely check out our blog for more information.

Insurance in the Florida Keys has seen a significant increase in recent years. FEMA’s Risk Rating 2.0 initiative, while a bit chaotic, has notably impacted flood insurance costs. Additionally, Citizens, our main wind insurance carrier, has mandated that if you have wind insurance, you must also have flood insurance, further driving up prices. These insurance factors are starting to influence pricing more here in the Florida Keys. Whether they will pull prices down remains to be seen. Time will tell.

No Dip in Sight: Florida Keys Real Estate Home Prices

So to answer your question, are home prices dropping in the Florida Keys? The short answer is no, not yet. While other places around Florida may be experiencing drops, here in the Keys, it hasn’t started. Be sure to check back often and read our posts, or simply sign up for our email updates. Trust me, we’re closely watching the market, and you’ll know as soon as we do when the prices start coming down!

Ready to make the Move?

We are local real estate agents, deeply familiar with the Marathon and Florida Keys areas, and ready to serve you. Whether you’re considering making the Florida Keys your permanent home, investing in vacation property, or looking to sell, we’re here to assist you every step of the way. Feel free to call us or reach out for any inquiries or assistance you may need. We’re committed to helping you find your perfect piece of paradise in the beautiful Florida Keys.

If you’re ready to buy, head to the Buyer Page where we answer lots of your common questions.

Prumo & Carden

Amy’s success as a Florida Keys Elite Agent and Diamond Award Winner is truly awe-inspiring. With over 13 years of experience in the real estate industry, she has cemented her position as a trailblazer and pioneer. Her unwavering commitment to excellence is reflected in her impressive academic credentials, which include a Master’s Degree in Marketing and Management. Amy’s marketing programs are simply unmatched, ensuring that your property is showcased to the widest audience of potential buyers, thus guaranteeing maximum exposure.

Tom is an accomplished expert in the Building, Planning, Zoning and Development field, with an extensive career spanning over several years. He has worked in the Civil Engineering Department for the USAF and was the Building Official/Director of Building Planning and Zoning for a municipality for over a decade. Additionally, he is the owner of Alliance Custom Builders, a testament to his entrepreneurial spirit. Tom’s impressive track record includes building homes in both Marathon and Key Colony Beach. He holds twenty licenses through the International Code council, including Commercial & Residential Plan Reviewer and Certified Building Official, cementing his position as a true leader in his field.

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The Future of Rogo in the Florida Keys

by amyprumo | Dec 31, 2023 | Building in the Florida Keys, Buyer Information

Rogo

The anticipation is high regarding the future of ROGO in the Florida Key. Islamorada has officially exhausted its building allocations. The City of Marathon is set to deplete its allocations by 2025, and the county has slowed its pace, anticipating the end of ROGO in 2026.

Background of Rogo

For those not familiar, the Rate of Growth Ordinance, or ROGO, was established to ensure resident safety during hurricanes. All of the Florida Keys are designated as an Area of State Critical Concern which served to constrict and control new development based on Hurricane Evacuation and provide oversight by the State. A 24-hour maximum evacuation time for residents and a 48-hour evacuation time for transient guests was established in Florida Law.

The Department of Community Affairs, now DEO, monitors evacuation times, reports to the Governor, and awards building permits every decade. The latest tranche, awarded in 2013, expires on June 31, 2023.

New Study for Rogo

Currently, a new evacuation study is underway, and indications from prior research suggest that the 24-hour evacuation time might have been exceeded. If this holds true, it is widely recognized that the Florida Legislature would need to enact fresh legislation, extending the evacuation period to facilitate the issuance of more residential building permits.

Past evacuation models suggest that extending the evacuation time to at least 30 hours would be necessary to meet the demand for residential dwelling unit permits, allowing for the construction of homes on the approximately 8000 estimated buildable lots in the Keys.

5 Scenarios

The DEO presented the County and Keys’ Cities with five scenarios, spanning from a complete halt on residential building permits to the potential allocation of permits for nearly all of the estimated 8000 buildable lots.

Balancing these diverse interests and formulating a plan acceptable to Legislators in Tallahassee presents a formidable challenge. The ongoing development raises environmental concerns, with arguments suggesting that the Keys have exceeded their environmental and biological carrying capacity. This is evident in the decline of fish stocks, coral bleaching, water quality loss, and eutrophication. The addition of complexities arises from the need to expand evacuation times, address sea level rise, and tackle traffic issues.

On the other hand, restricting property owners from building might necessitate the government purchasing lots at fair market value, potentially incurring costs amounting to billions and placing a burden on local taxpayers.

The Response

The County responded to DEO by requesting a postponement of any action until the 2025 Legislative Session.

Educated Guess for Rogo

Here’s what could unfold after plenty of discussions, debates, and careful consideration of the far-reaching impacts of the two extreme scenarios on the table.

It is likely that more residential permits will be allocated by the State in the next three years to avert taking cases and that the rate of permits being awarded to property owners will be at or below current levels.

To accommodate more permits the evacuation times established for residents will have to be increased from the current 24 hours. If that time is increased to about 30 hours there would potentially be enough permits available to build almost 8000 new homes on all of the buildable lands remaining in the Keys.

It will take many years to provide for all of the infrastructure necessary to support new residential units including expanded and improved roads, central sewer, stormwater, along with increased potable water and electric capacity as well as the work force housing necessary to support these new units.

As a result, whatever new allocations that are issued will likely be metered out over possibly decades as the infrastructure is put in place.

Should the Legislature choose to extend evacuation times, the subsequent allocation of new residential dwelling units would fall under the purview of the Governor and Cabinet. Local jurisdictions would then play a pivotal role in determining housing ratios and ownership preferences, further contributing to the intricacy of the balancing act.

Those property owners whose use of their land is ‘taken’ by regulation can petition government to compensate them for the loss of use of their property.

The future of ROGO in the Florida Keys remains intricate and subject to ongoing discussions and decisions.

Learn More About Building in the Keys Here

Click Here

Prumo & Carden

Amy’s success as a Florida Keys Elite Agent and Diamond Award Winner is truly awe-inspiring. With over a decade of experience in the real estate industry, she has cemented her position as a trailblazer and pioneer. Her unwavering commitment to excellence is reflected in her impressive academic credentials, which include a Master’s Degree in Marketing and Management. Amy’s marketing programs are simply unmatched, ensuring that your property is showcased to the widest audience of potential buyers, thus guaranteeing maximum exposure.

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Includes Local home Inspectors and Insurance compaines

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What Comes Next for ROGO in the Florida Keys?

by amyprumo | Nov 30, 2023 | Building in the Florida Keys, Buyer Information, Sellers

Rogo In the Florida Keys

The anticipation is high regarding the future of ROGO in the Florida Keys, and we’re curious too! Islamorada has officially exhausted its building allocations, and they’re now considering what to do with a few “administrative permits.” The City of Marathon is set to deplete its allocations by mid-2024, and the county has slowed its pace, anticipating the end of ROGO in 2026.

Background

For those not familiar, the Rate of Growth Ordinance, or ROGO, was established in 1992 to ensure resident safety during hurricanes. It introduced a competitive permit allocation system, where the highest-scoring applications receive building permits. If you want a deeper understanding of ROGO, check out our previous posts for more detailed information.

Legal Battles Ahead

For a while now, the county and other municipalities have been aware that the conclusion of ROGO would trigger lawsuits. Numerous legal challenges could emerge, potentially costing millions or even billions of dollars. The pressing question is: who foots the bill for these lawsuits—the state, the county, or the cities? In 2019, proposed legislation recommended a 50-50 split between the state and local municipalities for compensation in successful takings cases.

Latest Update on ROGO

If you missed it, Keys Weekly recently published an article following a County Commissioners meeting. Check out the link for the full read.

In essence, the article delves into the Florida Department of Commerce’s exploration of changes to hurricane evacuation models, potentially resulting in 8,000 new building permits in the Florida Keys.

If the state issues these additional permits, allowing construction on all lots, it could significantly impact the local real estate market!

Transferable building rights in Marathon are currently at an all-time high, costing $200,000. However, with transfer fees and closing costs factored in, buyers are paying around $275,000 for a building allocation today.

Consider the effort people have put into obtaining allocations; it has become incredibly competitive in recent years. All the extra expenses individuals incurred to gain more points might now seem like a wasted investment!

Our Prediction for ROGO

This is what I think will happen. It’s just my opinion and thoughts, so please make your decision based on what you want to do!

I think that the state and the county don’t currently have, and will not have, the funds to take on all the lawsuits that are about to occur once ROGO officially stops.

ROGO was designed for life safety reasons, but we all know how government works, and money talks. Due to financial reasons, I think the state will end up issuing about 4,000 more allocations. Even though, in my prediction, it’s still only half, this number of allocations will still disrupt the real estate market.

Right now, it has been extremely hard to sell vacant land because every buyer is worried they won’t be able to build on the lot. The value of land has gone down, which is crazy to think about because here in the Keys, land is so valuable. In Marathon, there was a sale of a vacant lot with an allocation for $225,000. If the allocation is worth $200,000, then that would make the land only worth $25,000.

If the state issues more permits, then the cost of a building allocation will go down, and the land value will go up.

As previously noted, sellers are currently earning around $200,000 for a building allocation. If I had an additional allocation to sell, I would prefer to sell it soon before the county distributes these new allocations, causing a decrease in their value.

If I had some extra cash, I would try to buy vacant land. Many people and other real estate agents are not paying attention to this, so prices are low right now for land. Yes, there is still some risk to this as none of this is guaranteed. As it sits right now, getting a permit on a vacant lot is extremely hard. But they say the bigger the risk, the bigger the reward.

If I owned a vacant lot and didn’t need to sell or wanted to invest in something else, I would keep my vacant lot for a little longer to see what happens. However, there is some risk in this; if they do end ROGO, you’ll end up having to go through the lawsuit process.

Alright so that’s the scoop on the ROGO rollercoaster in the Florida Keys! What do you think is going to happen?

Learn More About Building in the Keys Here

Click Here

Prumo & Carden

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Includes Local home Inspectors and Insurance compaines

Bpas / ROGO in Marathon, Florida

Wind and Flood Insurance Update Florida Keys

The Future of Rogo in the Florida Keys

What Comes Next for ROGO in the Florida Keys?

Understanding Downstairs Enclosures in the Florida Keys

What do you mean I can’t build on my own land

How Mitigations and Inspections Can Help You Save Money on Insurance

Florida Keys Flood Plan

Changes to Wind Insurance

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Breaking the Script: Choosing an Authentic Realtor in Marathon, Florida

by amyprumo | Nov 17, 2023 | Buyer Information, Sellers

Realtor in Marathon, Florida

Did you know the so-called “best” realtor in Marathon, Florida relies solely on a memorized script? No thought, no connection, just a repetitive spiel. Even with almost two decades in the business, they stick to a script instead of engaging authentically.

Curious about the exact script? Well you can read the script here. If you’ve worked with this agent or are considering it, check it out. Why hire someone who can’t think on their own?

An actor reading lines or a genuine person offering personalized service – what’s your pick?

Marathon, Florida Realtors

The ‘best’ agent in town floods the newspapers with flashy ads. But let’s take a closer look — are they really showcasing homes or just advertising themselves?

Consider this: How many buyers flip through newspapers to find their dream home? The truth is, it’s a rare occurrence. Yet, the agent’s relentless presence in print creates a perception. The ads suggest greatness, but in reality, they’re selling an image, not the listings.

It’s a snowball effect, and it’s been working. Sellers, impressed by the constant newspaper exposure, believe they’ve found a top-notch agent. The reality, however, is that the agent is selling themselves in the newspaper, not the homes. It’s time to see through the print haze and question whether the agent is truly focused on your home or just building their own brand.

See for Yourself

Still skeptical? Give the Marathon, Florida Realtor a call, schedule an appointment, and witness the script verbatim.

Before you commit to any realtor in Marathon, Florida, interview a few.

Find the authentic, caring ones over the script-dependent ones.

Your home deserves more than a rehearsed performance.

Looking a Script-Free Agent?

Also check out our Sellers Page for more important information on selecting a Realtor in Marathon, Florida.

Prumo & Carden

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How Much Does a Beachfront Condo in Marathon, FL Cost?

by amyprumo | Oct 18, 2023 | Buyer Information

Wondering about the cost of beachfront condos in Marathon, FL?

Embarking on the journey to find your piece of paradise in Marathon, FL is like a thrilling adventure, just like watching a stunning sunset over the Florida Keys. But the big question remains: how much does it cost to own a piece of this beautiful place?

Stick with us as we uncover the price range for beachfront condos in Marathon.

Revealing the Price Range

Just like with all real estate around the world, the cost of beachfront condos in Marathon, FL varies depending on factors like where they are, what kind of view they offer, how big they are, and what amenities they have. But don’t worry, Marathon has options for everyone, from affordable choices that won’t strain your wallet to high-end retreats. You’ll find a condo that suits your style and budget.

Let’s talk money – The Costs That Comes With Every Beachfront Condo in Marathon

Property Taxes

First up, property taxes – and the good news is, Monroe County keeps things wallet-friendly. They’ve got some of the lowest property taxes in all of Florida, sitting pretty just under 1 percent of the purchase price. To keep it simple, we usually tell our buyers to expect around 1 percent in property taxes. So, if your home’s price tag is $500,000, you’re looking at roughly $5,000 in estimated taxes each year.

HOA Fees

Now, HOA fees – yep, every condo’s got ’em. These fees can vary, with some covering more stuff and perks than others. It’s super important to ask what’s included. One thing we strongly recommend checking is whether the HOA fee takes care of building insurance. Most condos do, but there are a couple of associations that don’t. Plus, these fees can differ within each community, and we’ll dive into that in just a bit.

Condos for sale in Marathon, Florida - Royal Plum

So, where can you find these beachfront condos in Marathon?

When it comes to beachfront condos in Marathon, the options may be somewhat limited. Nevertheless, if your heart is set on waking up to the ocean every day and having the beach just steps away for wiggling your toes in the sand, then you’ll want to take a look at these condos.

The Shores

Tranquility Bay

Coco Plum Villas

Royal Plum

Having the beach at your fingertips is fantastic, but often these beachside condos lack dockages. It’s a bit of a trade-off – you can have the beach or you can have a dock.

However, there is one unique condo complex in Marathon that offers both. Keep reading to discover which one it is.

Royal Plum Beachfront Condo Complex

Ahoy, beach lovers! The Royal Plum condo complex, nestled in beautiful Coco Plum, offers 35 units, and each one grants you a golden ticket – beach access! But here’s the scoop: not all of these units boast an ocean view. Some treat you to the joys of a garden view, which, while not exactly oceanfront, still brings a smile to your face.

Now, when it comes to choices, you’ve got one-bedroom and two-bedroom units, and here’s the cool part: you can rent them out weekly. Plus, worry not about the day-to-day management – onsite managers are there to lend a hand. And of course, there’s that fantastic white sandy beach awaiting your footsteps, alongside a heated pool and tennis courts for some sporty fun. But, if you’re hoping to bring your furry friend along, we’ve got to break it to you – pets aren’t on the guest list.

Now, for the part about Homeowners Association (HOA) fees. They’ve got your back when it comes to common areas, building insurance, and cable. The monthly fee dances around the $770.00 mark. As for recent sales, well, they’ve ranged from $400,000 to $550,000, depending on unit size and location within the complex. Beach days, here you come!

Coco Plum Villas – Beachfront Condo

Picture this – Coco Plum Villas, a unique condo complex that’s not just your everyday beachfront spot; it’s got a primo location right on the open water. And oh boy, those fantastic screened-in porches offer some stunning ocean views, you won’t believe your eyes. There are 16 units in this gem, and each one comes with two bedrooms, two bathrooms, and approximately 1,200 square feet of space. It’s like your very own slice of paradise.

Now, what’s even cooler? It’s a pet-friendly community that’s totally fine with weekly rentals. So whether you’re looking to settle down or make a savvy investment, Coco Plum Villas has you covered. Plus, there’s more to explore with tennis and pickleball courts for a bit of recreation – because who wouldn’t want to have some fun?

Now, about the Homeowners Association (HOA) fees, they’re around $1,025 per month, and they take care of the important stuff – building insurance, common area maintenance, sewer, and water. So you can enjoy the good stuff without the hassle. As for the price tags, these units range from $725,000 to $850,000, offering options for anyone seeking a waterfront paradise right here in the Florida Keys.

Tranquility Bay – Beachfront Condo

Now, let’s sail over to Tranquility Bay – where the sun kisses the Gulf of Mexico. There, you’ll find 87 townhome units, each one with the cool option of having two or three bedrooms. But here’s the view-tastic part: 24 of these units come with waterfront views that’ll absolutely steal your breath away.

The fun doesn’t stop there. Tranquility Bay is like a never-ending vacation with three pools, a putting green, fitness center, beach tiki bar, and even an upscale restaurant to satisfy those taste buds. It’s basically a resort, but you get to call it home.

And guess what? If you’re thinking of making it an investment, you’re in luck. You can do nightly rentals, making it a sweet prospect for savvy investors. Plus, owners get up to five weeks a year to enjoy their personal beachside retreat.

Now, there are a couple of things you should know. Tranquility Bay doesn’t have docks or trailer storage, and, unfortunately, it’s a no-pets-allowed zone. But hey, you’ve got a bunch of other perks to make up for it.

As for the Homeowners Association (HOA) fee, it’s $2,313.99 per month, which might seem like a lot, but it covers a bunch of stuff: building insurance, cable, common area maintenance, extermination, and security. So you’re living the good life with some added peace of mind.

When it comes to price tags, well, they’re like the sunset – they vary. You can snag a unit for anywhere from $500,000 to $1,200,000. It all depends on how big you dream and where you want to catch those amazing views.

The Shores- Beachfront Condo

The Shores, located in Coco Plum, is a delightful 16-unit townhome condo complex. Residents can relish resort-like amenities such as a pristine white sandy beach, a heated pool, and tennis courts.

What truly distinguishes The Shores is its exceptional offering of beach access and 9 deeded boat slips, creating a paradise for those seeking both the beach and a dock.

You have the choice of 2 and 3-bedroom townhomes, complete with covered parking for two cars. The 21-day minimum rental policy provides flexibility for various stay options.

The pet-friendly atmosphere at The Shores welcomes up to two pets, each weighing up to 35 pounds, ensuring that your furry friends can savor the coastal lifestyle with you.

For a monthly association fee of $1,376, residents enjoy exterior maintenance, insurance, common area upkeep, and pest control.

Unit prices at The Shores can range from $600,000 to $1,300,000, depending on factors like location, view, and the inclusion of a deeded dock.

So, there you have it, the scoop on these four beachfront condos in Marathon.

The information provided is dependable but lacks guarantees. Beachfront condos in Marathon frequently revise their rules and fees making it essential to consistently verify details with the Homeowner Associations.

Curious about waterfront homes and how much they cost?

Get Access to Customized Searches for beachfront condos for sale in Marathon, FL.

Let us help you find the perfect beachfront condo that suits your dream lifestyle.

Did you find your dream beachfront condo in Marathon, FL? – Then be sure to head on over to our Buying Page, where we answer some of the most common questions buyers have!

Prumo & Carden

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Includes Local home Inspectors and Insurance Compaines

Do you need a car in Marathon Florida?

How far is it from Marathon to Key West?

Rate of Growth Ordinance Update – ROGO

Does Marathon Florida have beaches?

Does Marathon Florida have a town?

Bpas / ROGO in Marathon, Florida

Is it expensive to live in Marathon Florida?

Wind and Flood Insurance Update Florida Keys

The Future of Rogo in the Florida Keys

Is Key Colony Beach Nice?

What’s the Average Price for Waterfront Homes in Marathon, FL?

by amyprumo | Oct 3, 2023 | Buyer Information, Marathon

Discovering Paradise: Waterfront Homes in Marathon, FL

Thinking about purchasing a waterfront home in Marathon, Florida? Wondering what waterfront homes in Marathon, FL list and sell for?

Well, you’re in the right place! We’ve got you covered. In this guide, we’ll delve into recent waterfront home prices in Marathon. Plus, we’ll touch on additional expenses such as insurance and taxes.

So, buckle up and let’s dive into your potential waterfront living adventure!

Search Waterfront Properties Marathon

For Sale

The Allure of Waterfront Homes in Marathon, FL

Marathon, FL, is known for its excellent water access. The island has two main pathways to the ocean and the Gulf: the Vaca Cut and the Seven Mile Bridge. There are also many lovely waterfront canals with plenty of waterfront homes to choose from.

This charm has attracted homebuyers looking for a piece of waterfront paradise, leading to a growing demand for these properties over the years. Moreover, since Marathon, FL, allows weekly rentals, it has become a popular spot for real estate investments in the Florida Keys

Factors Influencing Waterfront Home Prices

The price of waterfront homes in Marathon, FL, can vary significantly due to several key factors. Firstly, the location is a major factor, with oceanfront and bayfront properties generally costing more due to their stunning views and immediate water access. Secondly, the size of the waterfront lot plays a significant role, with larger lots often coming with a higher price.

Additionally, homes with extra amenities like boat docks, pools, and outdoor spaces tend to be pricier. The property type also effects the price of a home. Lastly, the property’s condition and any recent upgrades can also impact its value. It’s important to note that the cost of a waterfront property can have a considerable range depending on these factors.

Average Price Range for Waterfront Homes in Marathon

Single Family Homes

If you are looking to get into a single family waterfront home, the cost of admission is going to be around $1,000,000 and up.

The current average cost of a waterfront single-family home in Marathon, FL, stands at approximately $3,074,764.

On the lower end of the spectrum, there are smaller, older ground-level homes. As you move up in price, you’ll encounter stilted homes, and at the top end, you’ll discover larger, newly constructed homes.

Half Duplexes

If you’re thinking of going for a half duplex on the water in Marathon, FL, and want to keep some extra cash in your pocket, you’ll need at least $700,000 to dip your toes into the waters of waterfront living. That should snag you a cozy, smaller half duplex. But, if you’re ready to make a splash and go bigger, be prepared to ride the wave up to a cool $1.6 million for a spacious waterfront half duplex.

Full Duplexes

Full waterfront duplexes in Marathon, FL, are a rare find. If you come across one, you might encounter a ground-level fixer-upper starting at around $950,000. On the other hand, if you’re looking for a fully remodeled duplex in a fantastic location with stunning views, you could be looking at an investment of approximately $1.8 million.

Condos / Townhomes

Condos and townhomes make for a great option when seeking a waterfront home in Marathon, FL. They often offer a more budget-friendly entry into waterfront living. For a cozy one-bedroom, one-bathroom condo, you can expect to invest around $380,000.

If you’re looking for a bit more space with a two-bedroom, two-bathroom unit, prices typically start at around $600,000 and go up from there.

For those in search of a spacious three-bedroom, three-bathroom condo, the range is approximately $875,000 and beyond.

As of now, the range for condos/ townhomes available in Marathon varies from $380,000 to $1,699,000! So you do have options!

Mobile Homes

Mobile homes offer an affordable option for waterfront living in Marathon, FL. However, with ongoing development and building restrictions, their availability is decreasing as they make way for new homes.

For now, you can typically find a waterfront mobile home starting at around $300,000. If you desire a mobile home on a larger lot with extended water frontage, you might find yourself investing around $900,000.

Taxes and Insurance

When it comes to homeownership, one unavoidable expense is property taxes, and let’s face it, no one enjoys paying taxes. However, here’s a silver lining – in Monroe County, you’ll find some of the lowest property taxes in all of Florida, hovering just below 1 percent of your property’s value. As a handy rule of thumb, you can estimate your property taxes by using 1 percent of the purchase price.

Now, onto insurance, another important consideration when buying a home in Marathon, FL. If you’re financing your home with a mortgage, you’ll need to secure Flood, Wind, and Homeowners insurance. The cost of these policies can vary based on the specific property you purchase. To get the most accurate insurance quotes, your best bet is to have a chat with a local insurance agent who can tailor coverage to your needs and property.

Conclusion

In conclusion, Marathon, FL, offers diverse waterfront properties to fit various budgets. Pricing varies based on location, size, amenities, and condition. Don’t forget to consider insurance and property taxes, with Monroe County having low tax rates.

For those dreaming of waterfront homes for sale in Marathon, FL, partnering with local experts is key. With its stunning water access, Marathon is your gateway to waterfront living. Dive into condo life, explore single-family homes, or embrace mobile home charm—the choice is yours in Marathon’s waterfront paradise.

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