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Monday, January 28, 2008

Don't Miss the Boat

This is a True Story! A few years ago a husband & wife team at a real estate office where I used to work went to the Ft. Zach Taylor beach to have a picnic lunch. They saw this woman wearing only a bathing suit running around frantically waiving to a cruise ship as it was sailing away from the Mallory Square Pier. The woman and her husband were passengers on the ship and had rented a scooter to see the island. They went to the beach and let time slip away. All of their clothes were on the boat, and it was headed toward Mexico. They asked the Realtor couple what they should do. My friend suggested that they stay in Key West a few days and then rent a car so they could meet the boat when it returned to Ft. Lauderdale. He said hey had missed the boat, and the cost of flying to Mexico would defeat the purpose of a cheap cruise.

The moral is pretty simple: Don't Miss the Boat! If you wait too long, the boat will probably have left the port and the cost for you to catch it may be more costly than if you had just played things safe. In other words, don't gamble on time or time may cost you more money in the long run.

How did you do in the stock market last week? Were you among the few that made money? Or did you lose some? Or a lot? I got out of the market because I could not stand the constant worry about what others were doing with my money. Real estate has traditonally been a safe investment because the market normally only goes up. Not down. Sometimes it goes at a slow pace and sometimes the pace is aggressive. Right now the market it Key West is going sideways, down, and up depending on the property type and location. Some very expensive properties are selling, several very low priced properties are selling, and a few moderate properties are selling. Most of all sales are negotiated prices, however.

We are seeing buying activity spurred on by short sale opportunities. I don't know how many of those will translate into actual sales that close. The lenders are now requiring short sale contracts be accompanied by proof of funds and a pre-qualification letter for any contract that is not all cash.

I just generated a new list of the homes that are always in top demand: Old Town under $1,000,000. CLICK HERE for the list. The list is real Old Town and covers only homes West of White to Duval and North of Truman to the Gulf. No Bahama Village, Meadows, Casa Marina, or any other area. This is the area that is always in highest demand. Checkout the list. There are a couple of well located houses at good prices. And there are some houses that are growing stale because they are over-priced.

If you see something that interest you pleas call me, Gary Thomas, 305-766-2642 or e-mail me at Thanks.

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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.