Wednesday, October 22, 2008
Just Listed ( but not by me) 608 William Street, Old Town, Key West. I wrote about this house earlier this year when it was priced the same as it is in today's new listing. But there has been a big change. The owner has done some spiffy updating as well to tidy the property over until a new owner decides possibly to renovate the property.
This is how the listing broker describes 608 William: "The sweetest cottage in the very best Old Town location has just had a fabulous face lift! This circa 1887 conch classic has a wonderful outdoor covered screened porch with private garden and bricked driveway. The interior is newly painted, there is a new kitchen with new cabinets, appliances, and granite counter tops, and a remodeled bathroom. Although a very comfortable home, an additional up side to this property is the potential for further development. There are extensive HARC approved architectural plans which may be included in the sale of this unique offering" CLICK HERE for more details and additional photos of one of my favorite homes.
The house is a liveable 753 sq ft and sits on a 46.35 x 100.5 (4560 sq ft) lot right smack dab in the Heart of Old Town on one of the very best streets in Old Town. I'm not making this stuff up guys. This is a terrific location. Two days ago I wrote about the historic landmark listed just next door.
I got an email the other day from a blog reader who questioned my opinion on 529 Margaret Street that is priced up near $1000 per sq ft. I wrote her back and told her that "value" does not necessarily equate to "cheap". I told her that the house on Margaret has everything most second home owners want in an Old Town home: pool, at least 2 bedrooms, nicely done, good location, can move right in and not have to do a damned thing. That house does not have off street parking or central air and it only has one bath. So a lot of buyers probably wouldn't even look at it because their agent wouldn't find it in an automatic search. I think my reader would find the asking price on 608 William most objectionable: $799,000 or $1,061 per sq ft. And in this depressed real estate market to boot. The value dear reader is not in the price per sq ft but rather in the uniqueness of this property, its location and the ability to expand the property at some future time.
I seriously doubt that anyone will pay the asking price on the historic landmark next door (read blog below), but I have no doubt that when that house is purchased, it will be bought by someone with an awful lot of money and great vision. I think they buyer will restore and improve one of Key West's most beautiful old ladies. And I think whoever ends up buying 608 William will end up benefiting financially and aesthetically from the renovation next door.
Want to see 608 William or some other Key West property? Please call me, Gary Thomas, 305-766-2642 or email me at email@example.com.
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
- Gary Thomas
- 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.