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Tuesday, June 17, 2008

Ready, Set, Go -- 4 Go Lane Key West Bank Owned

There is going to be a race to buy this spanking new listing at 4 Go Lane Key West. "Why a race?" you ask. Here's why. The price-$990,000 or $382 per sq ft. The location-Riviera Canal direct access to the Atlantic Ocean. This 2594 sq ft house has 3 bedrooms, 4 baths, pool, gazebo, separate mother-in-law suite, fireplace, parking for four cars. You guessed it, there has to be a catch. Naturally. It is bank owned. But the local lender is willing to do "creative financing" up to 100 % of the purchase price. There's gonna be a run on the bank, I think.

Here is how the listing agent describes this different REO: "Hidden Oasis! This large waterfront home overlooks Riviera Canal from the spacious deck and pool area complete with covered gazebo. The interior offers a combined living and dining area surrounded by glass sliding doors. A total of 3 bedrooms and 3.5 baths comprised of two bedrooms in the main house along with 2.5 baths and a separate mother-in-law suite with private entrance. Master suite begins on the first floor with dressing room complemented by built-in storage, large closet and vanity. Spiral staircase leading up to a large bedroom with bath en suite and private roof top deck. 100% financing available through First State Bank of the Florida Keys."

CLICK HERE for more info and additional photos. There is a link so you can locate the property on the map if you are not familiar with the location. Otherwise, drive as far east on Flager as you can go. Turn right and head south about 1/2 block and turn right onto Go Lane. You are there. It's a ritzy little neigborhood of about 4 houses all owned by rich folk. This is not schlock. Don't let the price fool you.

This will be gone in a few days at this price, of this is I am pretty sure. If you want waterfront property in Key West for a good price, call me, Gary Thomas, 305-766-2642 or e-mail me at to schedule an appointment.


TheSarasotaDeed said...

Wow.. This is a great looking home! Nice listing.. We're listing similar homes like this on the west coast of Florida in Sarasota @ WWW.TheSarasotaDeed.COM.. Come Check us out!


Anonymous said...

At first blush looked pretty good. However, property abuts busy South Roosevelt (street noise) and adjacent property which does not sold during boom period in the $700s.

Gary Thomas said...

Statistics can tell you whatever you want them to. Here is what the adjoining property owners homes are valued at by the Property Appraiser for Monroe County:
1 Go Lane: $2,516,372
2 Go Lane: $1,805,878
3 Go Lane: $1,064,138
5 Go Lane: $1,439,123

#2 & #5 are owned by the same person.

This is a deal, but only to someone not minding the closeness to S. Roosevelt. But if you consider you would have immediate access to the Atlantic and Gulf right outside your door, you might think the location is excellent. It is all a matter of perspective.


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.