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Monday, February 21, 2011

President's Walk - Truman Annex - Key West

The White House - home of our Presidents

President's Walk in Key West

Since today is President's Day I thought it is appropriate that I mention the only three currently active listings in the President's Walk Townhomes located at the Truman Annex in Key West.

Readers may recall that I wrote about a new listing at 233 Southard Street just couple of weeks ago. It is offered at $599,000 or $624 per sq ft. CLICK HERE to read what I wrote then. (I understand there are three active offers on this unit and it may soon be under contract.)

Last week I showed the other two units at 560 Porter Lane (now offered at the just reduced price of $549,000 or $572 per sq ft) and 566 Porter Lane (offered at $639 or at $666 per sq ft).

The three units are pretty much like most of the other units in this small townhome community in size, age, and general configuration. 560 Porter Lane is offered furnished and the other two are willing to 'negotiate' the furnishings. Each one is cute and charming in its own way-just like people. But none are cookie cutters versions of another. Each has a transient rental license which makes it an ideal purchase for a buyer who wants to occasionally rent the unit when the owner is not in Key West enjoying life.

The pool at President's Walk Townhomes

Truman Annex is a very popular location for both renters and owners. It is close to Duval Street but it is not a part of the madness that sometimes occurs there. It is a lush green sanctuary with beautiful buildings (townhomes, condominiums, and single family homes) most of which have been built after 1990 with a few historically significant 'grand conch homes' included in the mix. Mallory Square and the boardwalk are an easy walk through the north gates; the Ernest Hemingway House is five blocks to the south on Whitehead Street (just one block east) and the Southernmost Point is only a couple of blocks further; Ft. Zachary Taylor State Park and Beach are located at the west entrance to Truman Annex on Southard Street. But inside the Truman Annex there are just lush streets and lanes and lovely homes, but there is no commercial activity.

Front Street single family homes in Truman Annex - adjacent to President's Walk Townhomes

Ft. Zachary Taylor State Park and Beach - just a few blocks from President's Walk Townhomes

The real estate market in Key West is rapidly contracting. By that I mean the seemingly huge inventory of unsold homes from two years ago has shrunk dramatically. The number of new short sales and bank owned properties has dwindled to a smattering. Whatever you read or watch on TV about Florida home sales still being a buyer's market may be true for 'Florida' (and still is for Monroe County), but it is no longer the case for almost of Key West. CLICK HERE to do your own SEARCH of the active Key West mls database.

If you want to buy a place in Key West please consider working with me, Gary Thomas. I am a buyer's agent. Contact me at 305-766-2642 or by email at I am a full time Realtor at Preferred Properties Coastal Realty, Inc. in Key West. Don't miss out on the opportunity to buy now before prices start to increase and mortgage rates go up.

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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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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.