I get phone calls and emails from readers who say they really want to buy a place in Key West. They say they missed buying a place before the real estate market ran-up and that now they feel they have a second chance.
The 'pain' level (price willing to pay) is typically between $400,000 to $500,000. Some buyers have 'wish lists' while others have 'requirements' which often include having a pool, off street parking, good Old Town location, and so forth. Many want or require a transient license so that they can rent the new place to help pay for it.
Today's hot property will likely be under contract to some fortunate buyer who can make a quick decision and has the ability to act now. Remember, this Bank Owned unit has a valuable Transient License which allows owners to rent the unit weekly.
102-9 Southard Street is a Bank Owned second story Shipyard Condominium in the very popular Truman Annex. It is located in the westernmost building building and across the street from the large single family homes. The parking lot for this unit is only 75 feet away.
This unit is offered at just $379,900. The listing Realtor's description is very short and to the point:
" Lowest priced unit in the Shipyard, Truman Annex complex. This two-story, 2 beds and 1 bath unit has front and back balconies."In 2007 a different listing agent described the property this way
"Beautiful transient licensed shipyard unit with tile floors,new appliances,and the additional soundproofing installed in some origional units.This second floor unit also has a huge attic space for storage,and no noise from above.Balconies on both sides provide cool breezes,and views of the courtyard, or down Southard St. to the gulf."
If you take your time to contemplate the meaning of life (or to shovel snow one more time), you will lose your opportunity on this unit. I think it will be gone within days. That's how fast property is selling right now. People are in town and they are buying. If you snooze, you will lose. CLICK HERE to read the Key West mls database and to see interior photos of this Bank Owned condo with a Transient License.
If you are looking to buy your place in Key West and are not working with another agent, please call me, Gary Thomas, 305-766-2642. I am a full time Realtor at Preferred Properties Coastal Realty, Inc. in Key West, Florida. The only regret I have about buying a place in Key West is that I took too long to do it. Don't make the same mistake.