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Sunday, November 20, 2011

1121 Watson Street - A Singluar Short Sale Sensation - Key West

The Conch Grove Compound pool is wonderful!

The cute little cottage at the Conch Grove Compound is "back on the market" as a short sale and the lender has approved the property for short sale at the price of $325,000. The house was previously listed at the asking price of $299,000 and went under contract about 75 days after it was initially listed. The place is a 'cottage'. It is not a house. It cannot be enlarged. What you see is what you get. That being said and hopefully being understood, you actually get a nice place to live in a quiet Old Town location for not a lot of money. The listing Realtor describes the property this way:
"Renovated cigar makers cottage tucked away in a charming gated old town compound. Eleven homes share an extra large heated pool surrounded by mature tropical landscaping. Cottage was renovated in 2004. New roof in 2010. Move in condition. Just bring your flip flops and bathing suit to wile away the winter blues!! (Homes owned fee simple as part of a homeowners association.) This is a lender approved price on the short sale."
The 'ladder' provides access to the loft bedroom

Kitchen is at the right rear and bath is at the left rear

Loft bedroom

1121 Watson Street #2 is located two blocks west of White Street and two blocks south of Truman Avenue in the Conch Grove Compound which consists of several cottages and single family homes that share a large sunny and heated pool, gardens, and off street parking. The property is not a condominium. The owner of each cottage or house owns the ground under the property in fee simple. But all property owners share ownership of all of the common areas. Each cottage or house is unique. So the place does not look like a Disney version of Key West. It is the real thing. And I mean that in the most positive way. Writer James Kirkwood, co-author of "A Chorus Line", was one of the first homeowners in the Conch Grove Compound. Local author David Kaufelt used to live there as well.CLICK HERE to read the listing Realtor's comments about this property.

1121 Watson Street #2 is a one bedroom one bath cottage that is offered as the approved short sale price of $325,000. The cottage is just 420 square feet in size plus 5' x 14' porch. The Monroe County Property Appraiser shows that it sits on a 25' x 58' (1422 sq ft) lot. I know this is a small property. That is why it is called a 'cottage'. I have more photos that I will be glad to share with you if you contact me below.

If you would like to see this property, please contact me, Gary Thomas, 305-766-2642 or by email at I am a buyer's agent and a full time Realtor at Preferred Properties Coastal Realty, Inc. in Key West, Florida. This property will not last long at this price. Serious buyers need to act decisively.

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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.