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Tuesday, April 1, 2008

BIG Short Sale - 709 Bakers Lane

One of my favorite properties just became a real bargain. No hyperbole. Like Joe Friday (Jack Webb) used to say "Just the facts!"

709 Bakers Lane sits on Solares Hill at just about the highest point on the Island of Key West. It was renovated to sell at $2.8 million. The owners missed the 2005 selling season and then the downturn occurred in the real estate market. The sellers then made periodic price reductions. We put a deal together a few months back but the buyer was unable to complete the transaction.

So today the property is offered at $1.4 million on a short sale basis which means that the lender will have to approve the sale price since the asking price is less than the amount owed to the lender. The loss for the seller is substantial. The opportunity for you as a potential buyer is very substantial. This is a deal at this price. This place is really sweet. The gardens and pool area are enchanting. There is enough space for you and your family and friends (you'll have lots of friends when they see these new digs!!!) to have separate living areas and very accommodating common areas. CLICK HERE for more info and more pictures.

And your private little island within the Island of Key West is only two blocks from Duval Street and short walk to the Historic Seaport.

CLICK HERE to see 6 other houses in Old Town with 3 or more bedrooms that are comparably priced (actually, all are priced higher by more than $75,000). You will quickly see and truly appreciate why I call this house at this new price a Bargain.

Call Gary Thomas immediately to write an offer on this property. 305-766-2642 or e-mail me at

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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.