Search This Blog

Friday, March 27, 2009

1018 Thomspon Lane - Old Town - Key West - Short Sale

Attention Bargain Hunters: At Home in Key West just listed 1018 Thompson Lane, Old Town, Key West, Florida at the asking price of $600,000 or $526 per sq ft for this 2 bed two bath 1140 sq ft house with a cocktail pool and off street parking. Best yet is the fact that this property is a Short Sale. A short sale means the seller is offering to sell the property for less than the amount the seller owes to lenders on condition that the lenders agree to accept the lesser amount as full payment on the amount owed.

Where, pray tell, is Thompson Lane? you ask. It runs parallel between Eaton and James Street (east-west) for one block. It intersects Grinnell Street on the west and Francis Street or the back end of Manley deBoer Lumber Company at the east. Thompson Lane is only one block long. It's a very narrow little lane that the tourists on Mopeds will surely miss. And no Conch Train will ever pass by this abode.

Finnegan's Wake is a mere 30 second stroll to the west. And the Historic Key West Seaport is maybe a two minute walk. The Waterfront Market is down there so you will never be short of fresh fish and veggies. Duval Street is a five minute walk so you can get to your favorite restaurant or other libation destination without having to drive a car or remember where you left your bike or scooter.

1018 Thompson Lane has been rented as a monthly vacation rental. So if you are looking to purchase a place that can legally be rented as such, this place may meet your needs. The website that offers this property as a monthly rental describes the property this way: "A little slice of paradise located only one block from the historic seaport and close enough to bike to all the sites and attractions of old town. The Key Lime Pie is located on a small narrow lane that is a secret from even many of the locals in Key West.
This house has been lovingly refurbished with updated kitchen cabinets, countertops, appliances, a brand new downstairs bathroom and new hardwood floors on the first floor. Also on the first floor you will find the living room, kitchen, bedroom and bathroom. On the second floor is the second bedroom and bathroom. Off of the living room is a cozy deck where you can bask in the swim-spa or relax reading a book. You will have one parking space for a smaller SUV or compact car. Sleeps 4."

CLICK HERE for more details and lots of pics of 1018 Thompson Lane.

If you are interested in seeing 1018 Thompson Lane or any other property in Key West please consider using me, Gary Thomas, to help you find just the right place. I am a full time Realtor at Preferred Properties Coastal Realty, Inc. We are the exclusive Key West affiliate of Christie's Great Estates. Call me at 305-766-2642 or e-mail me at


flipper said...

Nice car Gary, looks like you must still be selling a few properties!

Anonymous said...

The owners can afford the BMW and not the house? Sell the car - pay the mortgage!!!

Gary Thomas said...

Sorry, guys. Wrong on both accounts. Well, I am busy and I am selling. But the car isn't mine.

The house is rented as a vacation rental (read the italicized portion of the blog).

The sad thing is that a lot of very good people got caught up in the madness that is causing real harm to our island home. Good people who invested their money in hopes of bettering themselves have been ruined financially and emotionally.

Please do not make comments about the owners of properties I write about in my blog.

I don't delete comments (unless they are spam), but please don't write something about the owner of a property. I get enough heat over what I write. I don't need any help from readers.



linus said...

cool house a bit pricey whats the rent history and whats a good offer

Anonymous said...

Sorry Gary - but you put the pic of the BMW in the blog. I am sure the owner wouldn't appreciate it being here unless you got their permission to do so. Otherwise, the poster is right to assume it belonged to the owner of the property without a disclosure to the effect.
As for good people losing financially, yes some did. But far too many were greedy and are now getting their justice due for their total ignorance by not reading what they signed at closing and for using their home(s) as ATM machines.
And the fall is far from over yet - just look at the foreclosure stats in the KeY West Citizen of 3/29/09. Shocking.

Gary Thomas said...

1. Linus: I showed Thompson on Sunday. Very cute cottage. Master down in front followed by livingroom that looks onto the pool (about 12') and deck area. Kitchen at rear. Upstairs is the second bedroom. All clean, neat and comfy. The rental company charges Jan $4800 Feb $5000 Mar $4800 Apr $4800 May $3500 Jun $3500 Jul $3500 Aug $3000 Sep $2500 Oct $3000 Nov $3500 Dec $4500.

It would not be proper to discuss price here. If you are serious about the property, call me.

2. Anonymous: checkout the pic of the BMW. I blurred the license plate before I made the post.

The statistics of which you speak do not differentiate between good people and greedy bastards. What happened to Key West happended all over the US. Our economy is in a mess because of the political decisions made in Washington not to control "free enterprise" but rather to let traders (oil, futures, commodity, all types of traders) manipulate markets and drive prices to irrational levels.

We are all paying the price for that.

Some in Washington and elsewhere want our new President to take ownership of the mess and have announced their desire to see him fail. Two months into his presidency and the loyal opposition is wanting his policies to fail.

To me, that's like Jane Fonda rooting for North Viet Nam.

To chastise the people who invested in Key West because they love this place and wanted to participate in its growth and prosperity and now have lost it is more of the same rhetoric to me.


Anonymous said...

And it is the best time to buy now that prices are low and money is easier than ever with low interest rates and the freeing up of the credit markets. You go Gary - Key West still rocks!


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.


Free Counter

Key West

Key West
You could be here!

Blog Archive

Gary Thomas in a Nutshell

My photo
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.