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Monday, November 1, 2010

1431 12th Street - Mid Town - Key West

1431 12th Street - Bank Owned - Key West

There is a Bank Owned townhome in the Mid Town area of Key West with bank financing that might make you want to take a look. In fact, the new financing offered seems like old times to me. This is how the listing Realtor describes this property and potential financing:
"Bank Owned Home!no Short Sale Hassles!special Financing Available. Zero Down,100% Financing With Rates Starting At 4.99%,No Bank Fees,No Points,No Appraisal Fee Required.No Income Verification To Qualified Buyers With As Little As 10% Down,Seller Financing Incentives."
Nothing in life (or banking) is free. Every time you deal with a bank there are strings attached. But like I said, you might want to take a look at this Bank Owned townhome which is located at 1431 12th Street. CLICK HERE to checkout the mls datasheet and the listing photos. Note the nice kitchen and in-ground pool. Also note the asking price of $350,000 or $190 per sq ft for this 1844 sq ft two story two bedro0om two bath home.

I have not been inside this place. The prior listing agent described the property this way:
"Huge 2 Story Townhome.1800+ Sq Ft.20' High Ceilings.Pool With Outside Covered Bar. Awesome Remodeled Kitchen With A Gigantic Granite Bar That Seats 8 Comfortably.Sound System Throughout.Entire Upstairs Is A Master Bedroom Loft With A Master Bath And Walk In Closet.2 Car Off Street Private Parking."

These townhomes are connected but there is no community association of common amenities. This property is located one block from Kennedy Drive and the baseball fields that run from Flagler Avenue to North Roosevelt. The three large Key West shopping centers are all within a three to five minute drive. For out of town buyers looking for a property you can rent as a vacation rental-this is not the property. But for buyers looking a good sized home with private pool at an affordable price, this may be what you have been hoping to find.

12th Street looking northeast

Please call me, Gary Thomas, 305-766-2642, to schedule a showing of this property. I am a full time Realtor at Preferred Property Coastal Realty, Inc. in Key West, Florida.


Anonymous said...

Gary, Welcome back from FF! I hope you had a good time!

Back to the blog. House did not sell earlier this year; offer fell through (story of our times) so we did not get to move to KW this summer. Maybe next year...


Gary Thomas said...

Diana, welcome back. There are still plenty of places in Key West waiting for when you are able to make the move.


Anonymous said...

More New Town than Mid-Town - this is behind Kmart and the professional bldg. on 12th Street. And a block from Kennedy Dr. OK, no HOA, walk to Albertsons and Kmart and have a beer at Stick and Stein with your game of pool. Still, this could be something good or, like you say, strings attached. Can't wait to see when it sells.

Anonymous said...

It's not highfalutin, but it looks pretty nice and is centrally located.

Gary Thomas said...

I have a buyer that purchased a bank owned property and who took advantage of bank incentives and financing. He got 3% of his closing costs paid by the bank--for real! He get a terrific rate - for real!

I was very surprised. I did not go inside this place yet but I have been in others. This could be a pretty good buy for some local that wants a decent sized home with a pool at a moderate price.



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.