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Thursday, November 29, 2007

What you can buy for $500,000 or less




Up north, in America, you can buy a pretty fancy home or condo if you have $500,000 to spend.

Since the housing market in Key West has taken its downward turn the prices on some single family homes and condos have become more affordable. So I thought I would share my search of homes and condos in the Old Town, Casa Marina, and Meadows Area with you.

To be concise: there ain't much. CLICK HERE to see the single family homes under $500,000. I have omitted some that are just plain awful or have really bad locations.

CLICK HERE to checkout the condos and townhomes in the same areas referenced above. There are two condos worth mentioning. Unit #298 at Shipyard in the Truman Annex is priced at $500,000 or $735 per sq ft. It is a 2 bedroom, 1 bath second floor unit with 680 sq. ft. and looks typical of the units available there. It can be legally rented on a transient basis. Other units have recently sold between $550,000 and $580,000 so this price is fairly good. CLICK HERE for the full info on this unit.

The townhome at Lionsgate 1118 Olivia CLICK HERE looks very interesting. This is a free standing single family home that is integrated into The Lionsgate Compound of similar homes that share a common pool and community area. CLICK HERE for more photos and info. This unit is priced at $485,000 or $700 per sq ft. (for basically a single family home in a great Old Town location with parking and the the use of a pool).

If you see something you like, give me a call. I'd love to help you find your affordable home in Paradise. Call Gary Thomas, 305.766.2642.

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The information on this site is for discussion purposes only. Under no circumstances does this information constitute a recommendation to buy or sell securities, assets, real estate, or otherwise. Information has not been verified, is not guaranteed, and is subject to change.

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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.