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Sunday, January 27, 2008

Money Makers?

There was a segment on the TODAY SHOW last Friday about a San Diego couple that is suing their former Realtor for professional negligence among other claims. Buyer claimed "the agent was negligent in not telling them about other houses that sold for less, including one three doors away that has a pool and sold for $105,000 less and another that was considerably bigger that sold for $175,000 less." GO HERE to read the story or watch a clip.

We have a Realtor in Key West that advertises himself as a "Real Estate Expert". Even before learning of the above referenced lawsuit, I thought our local "expert" is setting himself up to be sued. I think he is telling the world that he is more competent, experienced, and able than other Realtors. If the "expert" Realtor makes an error, is he not subject to a higher standard of conduct and conversely subject to a claim for higher damages than a plain old garden variety Realtor?

I am not an expert and don't claim to be one. Period. That being said, CLICK HERE to checkout a few of the 77 duplexes and 3-t0-4 family units available on the Island of Key West. I went through the mls and selected these properties generally because of their price per sq ft, location, special features, or possible SHORT SALE (in some instances). If you are looking for an investment opportunity, now is a good time to consider buying a property in Key West. The fact is that most of these properties have not sold because the market is still very cautious. The price per sq ft is down considerably now from what it was back in 2004 and 2005. That could mean that the prices then were too high, or that the market in general is depressed now. Some of the units were purchased at prices higher than the current asking prices. I think some of these units are buying opportunities today.

Some of the properties would be great for an owner plus tenant situation. Others are just income producing units. But I invite you to checkout the list and see if one of these units interests you. If so, please contact me for more information. Gary Thomas, 305-766-2642 or e_mail at

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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.