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Saturday, August 15, 2009

524 White Street - Old Town - Key West - Short Sale

I have not been inside 524 White Street since it was just listed as a short sale. I disclose this because 524 White Street was previously listed by Preferred Properties in January 2007 at the asking price of $1,150,000. CLICK HERE to view that mls listing info and photos of the "then" condition. The 2007 listing described 524 White Street this way:
"This is a comfortable Historic house with large, bright rooms, crown molding, 9' ceilings and Dade pine floors. The kitchen features glass faced cabinets, stainless appliances including 2 wine coolers, porcelain farm sink and a gorgeous subway tile backsplash. The downstairs bedroom is currently set up as a library and offers a wall of built-in Poplar wood cabinets with hookups for computer and television. Beautiful French doors lead from this room to the back deck with a very deep heated cistern pool. The downstairs bath has Brazilian slate tiled floors and shower. Up the original wood staircase are 2 bedrooms and a full bath with clawfoot tub. Offering 2 zone central air and offstreet parking...this is a wonderful house."

Two and one-half years later things on the inside and the outside could look differently.

The current listing Realtor describes this property this way: "This is a potential short sale. Beautiful home, remodeled, large space with small pool. Off street parking, too!" CLICK HERE for more current listing information and current photos.
I drove by the house Friday afternoon to take a couple of exterior photos. The architecture is so attractive and somewhat a-typical as compared to many Old Town Key West homes. The landscaping in the front is a tiny bit overgrown and the house could use a new coat of paint. But those are the things new homeowners usually like to do on any house-no matter how "au courant" it is.

524 White Street is a short sale and it is offered at $525,000 or $311 per sq ft. I am a firm believer in comparison shopping so I created a list CLICK HERE of other homes in the Old Town, the Meadows, and the Casa Marina areas now offered at $525,000 or lower.

While you are doing the comparison shopping take a look at this house just around the corner down Curry Lane CLICK HERE. Curry Lane is private and cute and all the things I write about life on the slow lanes of Key West. But the houses' sizes and features are fairly similar. Except for the over $500,000 price difference. (I am not disparaging Curry Lane. I am saying that 524 White Street might be a buying opportunity for the right buyer.)

If you are interested in buying a nice sized home in Old Town with a pool and off street parking, 524 White Street might just meet your or exceed your expectations for the price. Please call me, Gary Thomas, 305-766-2642 to schedule a showing. This place is tenant occupied and requires a 24 hour notice to show. CLICK HERE to search the Key West mls on our Association of Realtors website. The info on the Association's website is in real time as opposed to other sites that may offer stale listing info or that may attach trackers to your computer.

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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.