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Thursday, January 21, 2010

903 Southard St -Old Town - Key West

903 Southard Street Key West, Florida

The pool!

Just listed, but not by me, 903 Southard Street in Old Town Key West. This house is priced to meet the market at $550,000 or $924 per sq ft. Read on to see why it will sell right away.

The listing Realtor describes 903 Southard Street this way:
"This cute & adorable renovated Old Town cottage is located on a corner lot and within walking distance of great restaurants, the Key West Bight and Duval Street and clubs. The French doors leading from the living area open onto the tropically landscaped inground pool with lots of privacy. Please note interior of property is approximately 594 sf. Possible encroachment onto property by adjoining rear property."
903 Southard Street has been actively rented as a vacation rental for a couple of years and has a good rental history. The cottage has two bedrooms and one bath. The kitchen opens into the living area. And then there is the pool and courtyard. CLICK HERE for more detailed mls listing info and photos.

The cottage is located at the corner of Southard and Margaret Streets. Mangia Mangia restaurant is located directly across the street. Michael's Restaurant (the tony T-bone joint) is located on the opposite side of Margaret. Five Brothers is located one block to the east; the Historic Key West Seaport is a five minute walk to the north and Duval Street is a five minute walk to the west. You could not ask for a better location. I showed this cottage several times and it is always rented. I've repeatedly ask renters how they like the location and the house. Everybody raves about it. All of the above photos were taken about one year ago.

If you read my blog from yesterday you know there is very little for sale in Key West in the $500,000 range, let alone a good location with a pool. I urge serious buyers to contact me, Gary Thomas, 305-766-2642 or by email at I am a full time Realtor at Preferred Properties Coastal Realty Inc. in Key West, Florida.


Gary Thomas said...

Friday, January 22, 2010 8:16 AM Now Shown as CONTINGENT.

I posted my blog and sent emails to my buyers looking for houses in this price range. A couple of buyers got back to me and said it looked interesting and would mull it over. There is no mull over or do-overs in real estate. Deals like this do not come along often. When they do appear, it is necessary to be bold and make the right choice.


Anonymous said...

Heard that this house entered foreclosure with mold issues. Can not find a listing agent though. My information came from the rental agent.

Gary Thomas said...

Anon: I checked the Monroe Co Clerk's website. No lis pendens has been filed so your info regarding foreclosure is incorrect.

The house did have a mold issue a few years ago. The owner repaired the damages and remediated all mold issues. There is no current mold problem.

This property is a short sale and it has been under contract since just after it was listed for sale.This place has a great location and people that stay here love it. I think this property is a great buying opportunity.


Anonymous said...

Thank you Mr. Thomas for that information. I had a deposit and rental agreement to rent this property next winter. I was looking forward to it. At Home in Key West, informed me that I would not be able to rent this property because of foreclosure and mold issues. We have been thinking of purchasing property, that was why I was interested in the listing. I agree that it is in a wonderful spot and am sure that I would have loved it. I see that sadly to clear the properties rentals I was not informed of the real reason, whatever that may be......

Gary Thomas said...

Dear Anon: The property went in the mls on January 12, 2010 as an active "short sale listing priced at $550,000. The listing status was changed to "Contingent" that same day.

I have a property that my buyer submitted an offer on November 6, 2009. We got approval on it last week. Some short sales take a long time to get approved.

I think 903 Southard Street is a great small cottage with an incredible location. I share your frustration in not being able to buy it.



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.