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Friday, October 10, 2008

More Bank Owned Key West Properties

A few weeks back I wrote about the new listing at 1119 Von Phister a bank owned property that happens to be right next door to where I live. I totally forgot until yesterday that I almost bought that house in 2004. I had plans to renovate it and sell it for a bunch of money. The house sold quickly after it was listed so I thankfully never got the chance to buy the beast. (I'm not putting that property down. Any renovation becomes a beast in my opinion.)

Today stock markets all over the world have moved steeply downward. The mortgage meltdown has turned into a thermal unclear event. Nobody can really predict what will happen next. But I can predict that things will eventually get better. They always do. I lost a huge amount of money after 911. I went nuts. But I eventually accepted what happened. That's all you can do. Or kill yourself.

Time passes and things do improve. Usually. Take the house on the right located at the corners of Elizabeth Street and Southard Street. The black and white photo is from the 1960s or 1970's. I took the color photo two days ago.

I don't know if we are in a new Depression, but there are a lot of depressed folks out there right now. That's the reason for the big smiley to the right as well. People come to Key West to get uplifted and to relax. And the parachute photo just makes you want to get up in the air and fly.

Here are three links to some recently foreclosed properties in Key West.

Link No. One CLICK HERE is a commercial property at 824 Duval Street. It has two commercial spaces of 1500 sq ft each and 6 one bedroom, one bath fully furnished transient rental apartments. There's a pool and tropical garden plus off street parking for eight cars. Bank owned and financing may be available.

Link No. Two CLICK HERE This is a bank owned condominium project that did not quite get completed. Listing agent says it needs about $200,000 worth of work to complete.
It's located on sunny Stock Island. Bank owned.

Link No. Three CLICK HERE This is a group of several homes that are bank owned. I've written about the house on Go Lane and 1119 Von Phister. Our office has the listing on the architecturally "interesting" A frame at 2301 Linda (corner of Flagler) which has a big pool and a small price per sq ft ($168) for the property. Each house is bank owned. Bank financing may be possible on Go Lane and Von Phister only.

If any of these properties look interesting to you, or if you have a specific property that you are looking to find, please call me, Gary Thomas, 305-766-2642 or e-mail me at

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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.