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Wednesday, July 22, 2009

1115 Georgia Street - Key West - Priced to Sell





The modified eyebrow house at the corner of Catherine and George Streets was just put back on the market after taking a bit of a rest during the price adjustment in Key West housing. The house was listed on and off for a couple of years and was even featured on one of those "help me swell my house TV shows". The "how to guy" is that overly big muscle guy with the shaved head. He painted some rooms, moved some furniture, and re-located the owners' parrot to the rear deck for the final "reveal". None of his tricks worked.

Today 1115 Georgia Street is priced to sell at $599,000. This is NOT a SHORT SALE.)The 1992 sq ft house sits on a corner lot of 3894 sq ft on the eastern edge of Casa Marina near the southern edge of Old Town. The main part of house has 2 bedrooms and baths plus what the listing Realtor calls a third "satellite bedroom/bath" (I'd call it a guest unit). The house has a real nice pool and covered off street parking. All of this is available for only $599,000 or $301 per sq ft. This is how the listing Realtor describes Georgia Street:
"This historic home sports 3 bedrooms and 3 baths. The third bedroom and bath is a satellite bedroom/bath, which is very private and access is up the outdoor spiral stair. Centrally located at the corner of Georgia & Eliza, the entire property is fenced in for your privacy. With a pool, car port and lush landscaping."

Let me tell you why I think this house did not sell before and why it is a good value today. Besides the obvious price difference (previous price was $1,075,000), the biggest detractor may be the neighborhood. There is a church across the street and the White Street shopping area is a block away. So people who go to church are present one day a week or so. Big deal. The church members aren't there partying all hours of the day and night.

Faustos Food Palace(complete with on-site genuine butcher) is a block away as are several coffee shops, a couple of gyms, dog store, tile store, paint store, hand job car wash, a couple of gas stations, and the best chicken in all of Key West at the Quick Mart. Bayview Park CLICK HERE is one block to the north. It has tennis courts, kids playground, an old fashioned bandstand, and lots of grass and trees where you can walk your dog and meet your neighbors. Elementary and middle schools are withing walking distance. Old Town is a quick bike ride and the shopping centers are an easy jaunt. The ocean is a clean shot down White Street about six blocks to the south.

CLICK HERE to see the photos of 1115 Georgia Street provided by the listing Realtor and get some more details on the property. Better yet, please call me, Gary Thomas,305-766-2642 to schedule a showing of this house. It is priced to sell now. Compare it with other houses similarly priced and you will appreciate the value I now see in this house.

10 comments:

Anonymous said...

Hey Gary!

Two questions for you, if you don't mind:

1) I must be 'directionally challenged' because I haven't been able to find the local coffee shops when I've been down there. Any recommendations?

2) The market has wiped my second home funds clean so I'm not in a situation to buy now (you'll be my Realtor when I do, if you don't mind!) however, if it's not too much trouble, I saw a duplex on Terry Street the other day. For some reason I don't see it now. Do you know whether it sold, or was taken off the market?

Thanks!!

Anonymous said...

I should add, it was a short sale.

Thanks!

Gary Thomas said...

You can usually find listing info if you have either the street address or mls listing number.
The mls number for 823 Terry Lane is # 110398
That property went contingent on July 15th.

Gary

Anonymous said...

Bahama Village, right?

Anonymous said...

Thanks, Gary!

Other Anon, yes, it's in Bahama Village.

Gary Thomas said...

No, This house is located one block east of White at the corner of Catherine and Georgia Streets. Bayview Park is one block to the north and runs from Eisenhower to Georgia Street. The Harvey Government Center goes from Georgia to White.

This area has a mix of modest single family homes, expensive homes, some townhomes and condos, neighborhood commercial. It's just normal Key West. Not too fancy. Mostly real people with real lives.

Gary

Anonymous said...

The Terry Lane property is Bahama Village.

Gary Thomas said...

YES, Terry Lane is in Bahama Village.
Sorry if I misunderstood.

Gary

Anonymous said...

Gotta come check out that "hand job car wash!"

Gary Thomas said...

I think it used to cost $100 bucks. But there is a "$20 special" sign hanging up there these days. Must be a quickie.

Gary

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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.