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Tuesday, February 12, 2008

724 Ashe Street Old Town Key West,Fl

The lovely home at 724 Ashe Street in Old Town Key West was purchased by its present owner in 2004 for the sum of $1,265,000 or $766 per sq ft. That was a good price for its time, but the owner did not pay a premium for it. The house has just about what most full time and second home owners look for in an Old Town home: 3 bedrooms, 3 full baths, Dade County Pine walls, beautiful interiors, an inviting pool, and a quiet location. Most of the surrounding homes are of similar vintage construction and most of those have been renovated. There are some new homes in the area as well.

The present owner put the house at 724 Ashe on the market in 2006 for $1,495,000 and has steadily reduced the asking price over the past two years. Yesterday, the listing Realtor dropped the price to $995,000 or $603 per sq ft. If you have been following the asking prices on various properties that I have mentioned you will see that the current price is very reasonable, even cheap compared to many properties with similar features.

This is how the listing Realtor describes this home: This is a potential short sale that may be subject to third party approval. Located on a quiet block in the Historic District, this house was built in the late 1800's and recently beautifully renovated. There are three bedrooms and three baths with an open living and dining area overlooking the heated pool and gardens through French doors. The beauty of the home is highlighted by Brazilian cherry and limestone floors. The stunning kitchen is open to the living area and features stainless steel appliances and slate counter tops. Adding to its historic appeal are multiple covered sitting porches. Relax and Enjoy!

The house has 1650 sq ft of very usable living space. There is no off street parking, but the area is primarily single family homes and many of those have parking. The home has a two inviting porches on the first and second floors at the front of the property. The living area opens onto the deck and pool area, and there is a covered veranda off the second floor master bedroom that overlooks the pool. The lot is narrow but deep (22.5' x 93'). CLICK HERE to see more info and photos.

I think somebody will act quickly on this house at this price. Persons interested in making an offer on short sale listings need to have all of their information ready in order to get the immediate attention of the lender. That means make an all cash (proof of funds required) with a quick close with limited contingencies (inspection) or proof of funds accompanied by loan commitment sufficient to cover the sales transaction. Complicated offers or offers with ridiculous prices or contingencies are futile.

Want to see this house before it is too late? Call Gary Thomas, 305-766-2642 and schedule a showing.

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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.