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Wednesday, February 7, 2007

The Sun also Rises on Paradise Harbor

The Sun also Rises on Paradise Harbor

When meeting a potential home buyer for the first time I always ask the type of home the buyer is looking for including, size, location, number of bedrooms, degree of “doneness” so that I can help find the right type of home to fit the buyer. Many buyers answer “waterfront”. When I tell them Key West has only a few (as in very few!) waterfront or even water view homes, they reluctantly accept the fact that they may not get what they want. But there is a new opportunity for water view homes in Old Town.

Yesterday I wrote about 8 new single-family homes being built in a compound in the 1500 blocks of Petronia and Pine Streets. Just across the road another developer is constructing seven new single-family homes at Paradise Harbor, which is located at the Garrison Bight. The homes are located at 719 Eisenhower Drive and some have direct water views of the bight. Each home has a boat slip for easy ocean access. The homes range in price from $2,350,000 to $3,495,000.

The homes feature a huge master suite, over sized guest rooms, high ceilings, state of the art kitchen, spacious dining area, and a third floor library/game room. The yards feature a pool and foliage designed with water conservation in mind. Key West has never had a development like this within walking distance to Old Town. (Walk time to Duval Street is 15 minutes. Walk time to the historic seaport is 7 minutes.)

I can’t predict the future, but I am confident the sun will rise over the new homes at Paradise Harbor, and that the present price point on these homes is way undervalued. The houses are not inexpensive by any means. But when the Key West real estate market returns, the homes directly on the water will have appreciated more than just about any property in Key West. The other homes will increase in value, but not to the same degree in my estimation.

This is not my listing, but you can see more detailed information on it by clicking The Sun also Rises on Paradise Drive above. Better yet, please call me at 1-305-766-2642.

1 comment:

Anonymous said...

These homes are still overvalued today.


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Gary Thomas in a Nutshell

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Key West, Florida, United States
I first read about Key West in a magazine called "After Dark" sometime in the mid 1970's. But it wasn't until March 1984 that I made my first visit to the island that would become my home. I had two weeks for a vacation and reserved a room at Colours Guesthouse (now Marrero's Guest House) for one week. I thought that if I didn't like Key West, I could always go back to Miami or Ft. Lauderdale for the rest of my trip. But after a couple of days in Key West, that was no longer a consideration. But when I wanted to extend my stay for the extra week I found there was no room at the inn. The guesthouse owner did find me a room at LaTeDa, the infamous guesthouse/restaurant. That's a story I'll write another day. But those two weeks in Key West gave me the realization that I had found Paradise. Key West has been my home since 1993 and my only regret is that it took me so long to get here. I am a full time Realtor at Preferred Properties CRI. Let me help you find your new home or business in Paradise. Living in Paradise is not a slogan, it's a way of life.