Also, Key West International, which serves American Airlines, Cape Air, Delta, Southwest Airlines, United Airlines, and U.S. Airways, handles approximately 367,615 passengers per year. In 2013, there has been a 4.6 percent increase in airline passengers. Last year, the airport recorded a 10.1 percent increase from 2011.
In addition, Cruise ship travelers to Key West stood at 813,713 in 2012, up from 811,458 in 2011. Hotels report an increase in advanced reservations, and occupancy rates remain steady from last year. Occupancy rates rose 6.3 percent from 2010, to 2011. Additionally, 775 new businesses were registered in Monroe County in 2012.
This continued activity has certainly gotten the attention of property investors, who realize the value of rental income and the power of building equity in our area.
Currently in the lower Keys and Key West, home prices are still affordable plus Lenders have relaxed some of their strictest standards for the last quarter of the year, making mortgages more available.
Mr. Mullins also remarked. “We are also seeing increased pressure for our Condominium market as well as residential waterfront Real Estate.
Fred Mullins has more than 15 years of cross-functional experience in real estate, international asset management and construction management. He has been a part of the management team for several Fortune 100 companies, including AT&T, Visa, FPL and C. B. Richard Ellis.
His responsibilities have included real estate / property management portfolios of more than 9 million square ft. and international responsibilities in more than 10 countries.
Fred holds an MBA, B.S., real estate license, mortgage broker’s license, USCG Master Captains license and commercial pilot’s license.