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Thursday, March 5, 2009

Fit for a Queen - 1215 Royal Street - Key West - Bank Owned!



Well, the economy sucks and the Queen needs to downsize and find something a little more affordable. The house at 1215 Royal Street is now Bank Owned.

This is how the listing Realtor describes the property: "Bank owned property. REO. Qualified Buyers may be eligible for Seller financing at below market rates, FHA and other incentives available where applicable. Fast response from bank. Renovated Old Town Key West home, vaulted ceilings, Saltillo tile, and French doors. Private rear deck/pool area. Great curb appeal. Lush tropical plants provide privacy in front; white picket fence gives it that Key West, Conch style look. Front porch was made for rocking. Driveway provides off street parking. Downstairs are two bedrooms and two baths and the large living/dining area which opens up to covered deck and pool. Upstairs is another bedroom, with skylight, bath, and plenty of storage. Walking distance to Duval St, beaches, restaurants, and more!">1215 Royal Street (three blocks east of upper Duval Street) might just work. The house is now BANK OWNED and it is priced at only $627,500 or $456 per sq ft.

This is how the listing Realtor describes this property: "Bank owned property. REO. Qualified Buyers may be eligible for Seller financing at below market rates, FHA and other incentives available where applicable. Fast response from bank. Renovated Old Town Key West home, vaulted ceilings, Saltillo tile, and French doors. Private rear deck/pool area. Great curb appeal. Lush tropical plants provide privacy in front; white picket fence gives it that Key West, Conch style look. Front porch was made for rocking. Driveway provides off street parking. Downstairs are two bedrooms and two baths and the large living/dining area which opens up to covered deck and pool. Upstairs is another bedroom, with skylight, bath, and plenty of storage. Walking distance to Duval St, beaches, restaurants, and more!" She did a pretty good job! CLICK HERE for more information and photos.


The new bank owner even just had the pool resurfaced. I think the Saltillo tiles look okay, but I would remove them and install either a really nice dark hardwood floor or travertine marble and extend the look out to the covered pool deck with either IPE wood or a non-porous tile that looks like travertine. The kitchen is small and needs updating, and so do the baths. They are both functional as is, but a few thousand dollars could make this place look great. I'm not a building or a home inspector, but I didn't see anything here that looks like an expensive fix.

The only negative about this house is the existence of a spiral staircase to the second floor where the third bedroom and bath are located. That's where you make your guests stay. That will assure they don't stay too long!

Any queens out there looking for a place in Key West? If so, please call me, Gary Thomas, 305-766-2642 or e-mail me at kw1101v@aol.com. Straights are welcome to call me as well. Everybody is welcome in Key West. That's why we call it Paradise.

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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.