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Tuesday, July 15, 2008

31 Seaside South Ct - Key West -- Ocean View

31 Seaside South Ct is a beautifully decorated home with stunning views of the Atlantic Ocean. Ideally located in a secluded quiet location at Seaside Key West Residences this luxurious 3 level home includes many amenities. A few of the features of this home include designer decor, multiple outdoor spaces, private elevator, 2 car garage and breathtaking rooftop deck. This is a perfect stress free island home with poured concrete construction and impact resistant windows and doors. Seaside Key West Residences is recently built (2005)gated community with several pools and clubhouse.

This 1914 sq ft home has two bedrooms and 3 baths is offered as a potential short sale at the price of $695,000 or only $363 per sq ft. And if that price isn't good enough, the property comes furnished. There are more photos and additional information about the unit CLICK HERE. Imagine, moving into a place like this for such a potentially affordable price. The developer of the entire development owns the unit next door. That means the ocean view is just about as good as it gets in my opinion.

This is not my listing, but I would gladly show it to you. Please call me, Gary Thomas, 305-766-2642 or e-mail me at Imagine waking up to the sunrise view at your Seaside home in Key West. It can happen.


Anonymous said...

When you post about a condo unit, you should really mention something about how the development is doing as a whole. A very cursory look at the MLS reveals at least 2 additional short sales in this development(28 Seaside South and 91 Seaside North),and 2 units owned by real estate agents (86 Seaside North and, again, 91 Seaside North). These are not very good signs at all. (73 and 83 Seaside North are also listed for sale with no further info). The potential that someone who buys may get stuck with increased maintenance fees (due to vacancies, foreclosures, etc.)or worse, a special assessment, is far more valuable to a prospective buyer than the "breathtaking" rooftop deck and the fact that the property comes furnished.

Just a suggestion.

The Captain

Gary Thomas said...

Captain: There are four units for sale at this time. At least two are realtor owned and I think another is but not disclosed as such. One realtor owned is priced over $1,000,000 and the owner has no intention of any short sale.

Two are identified as short sales.
The mls numbers and prices are listed below along with the price per sq ft. Readers can go to the Key West Association of Realtors website and checkout each listing and determine if the unit I wrote about is worth looking at based on price, view, amenities (furnishings, etc.)

108942 $700,000 $384
105370 $799,000 $438
105370 $1,100,000 $575
105974 $1,200,000 $658

I previously wrote about the problems facing condo and townhome associations with the massive foreclosures and abandonments that are happening across our country. The problem is not just in Key West. It is everywhere. Buyers ought to engage an attorney to represent them to make sure they are not buying into a problem association.

Go here to read what I wrote.
Click Here

Anonymous said...

The Captain says:

I count 6 units for sale:

28 Seaside South
31 Seaside South
73 Seaside North
83 Seaside North
86 Seaside North
91 Seaside North

The one realtor owned that you say the owner has "no intention of any short sale" really means the owner has no intention of any sale, short or otherwise, at that price (over $1M).

Also, the developer-owned next door unit is on a bigger lot (2452 sq ft v. 1794 sq ft). It sold for $701,000 in 6/2005.

Captain out.

Gary Thomas said...

I think you are right about a no sale. She owns the house across the street from me and another 1/2 block away. The house across the street has been on the market since late 2005 or early 2006 and it is way over $1000 per sq ft for a renovation project. Her basis is low so she can play the waiting game.

I missed mls # 107328 $975,000 or $509 per sq ft.

As for the developer property, he built the place and made himself a good deal. The unit I mentioned priced at $695,000 was also purchased new in 2005 for $1,138,100.

If a person is looking for a "new" town home with an ocean view, I think this unit is definitely one to consider. Location is important in any purchase and this unit has a very good, quiet location with an A+ view. Compare it to a comparably priced town home at Presidents Walk in Truman Annex. The Annex property has a superior location for someone who wants to be close to Old Town and have all the amenities of that development. But The Annex town homes don't have ocean views and are not new nor are they constructed with the same materials as Seaside.

There is a trade off we make in buying real estate. I know most second home buyers think they want to live in Old Town. I'd encourage them to at least consider a property like this one.


Anonymous said...

The Captain says:


Price for 1211 Catherine has been reduced to $545K. No doubt as a result of the posts on this blog. Still too high in my opinion.

Captain out.


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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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.