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Tuesday, May 9, 2017

32 HILTON Haven Road #4, Key West - New Lower Price

I have written about 32 Hilton Haven Road #4, Key West on several occasions during the past several months.  It is one of the largest waterfront condominiums in Key West and has probably the best water view I have seen for any house comparably priced.  The asking price was reduced to $1,100,000 late Monday at which time I sent emails to a couple of my buyers who are seeking a deal.
I remember how surprised I was to learn that although Key West is island that there are few homes or condominiums actually have water views. The are a few single family homes near the southernmost point which are located on the water and additional homes across Whitehead Street which is Navy property with extraordinary water views for NAVY brass. Harbour Place Condominiums in Truman Annex have water views. There are no units available there and if they did exist, they would be smaller in size, higher in price, come with a lot of association rules and enforcement officers. The Key West Beach Club has wonderful views, but the units available are each much smaller in size. There are several units at 1800 Atlantic has several units available with varying views of Bertha Street, the courtyard, or the mangroves, nothing is as large or has direct water views anywhere comparable to 32 Key Haven. There are some single family homes on one of the canals, but that is not like having a direct water view with sunrises or sunsets.  My point is there is nothing comparable to 32 Key Haven. I am not the listing agent. I cannot understand why it has not sold. I think if offers a very good value to any number of buyers. And now that the price is reduced again I think a lot of buyers ought to take a look.
The current owners did a thorough renovation and significantly update this property by adding impact windows and doors. Buyers may not appreciate the significance of not having to hire someone to install shutters should we get warning of an impending storm. An owner or a property manager needs to contact someone who can do the job and then get it done. After the storm passes, the same person will need to take down the shutters each time charging for time and service. Impact windows don't require any service. They function without shutters. They also provide immediate discount on wind insurance. 
During renovation the current owners created three bedrooms and baths in opposite corners providing ultimate privacy for the occupants. Having friends or family spend time with you can be very enjoyable, but having to listen to them come and go or do whatever it is that guests do can be annoying, especially if it upsets the way you normally live. This unit is so large that I doubt anyone will get annoyed. 
Proximity to Old Town. Okay you can't walk to Old Town. Well, you could but it would take 20 to 30 minutes to walk there. If you consider what you would have in reverse, you don't have to deal with tourists from morning to night, day after day after day, You can see them on your terms and your time and not have to hear their goings on. I would much rather wake up in the morning and see birds flying and boats setting off for a day of fishing than hearing garbage trucks and delivery trucks and hearing the bald guy drag tourists all over town gabbing about mango trees.  I really don't understand why people think they need to live near all that. 

CLICK HERE to view the Key West MLS on 32 Key Haven. Please call me, Gary Thomas, 304-766-2642, to take a look. We can and should look at the other places to. But if you look with an open heart I'll bet you will see all the positive features this home at this price has to offer.


Anonymous said...

Hi Gary, High Maintenance Fees, $1500/mo. That's more than I pay for my doorman building with pool, fitness center, cable tv, internet, and media room. Was this condo formed by joining 2 condos? That's what I expect, that's how the HOA got so big

Now that does includes Bldg insurance so that is some compensation, given how high insurance can be in KW. I do like the thought of living relatively close to Old Town and yet so much privacy on Hilton Haven.

I think the current low price accurately reflects the high monthly HOA, and it's a unique view

Gary Thomas said...

Dear Anon, I don't know where you came up with $1500 per month in fees. The MLS clearly states: "Association Info: Mandatory Home Owners Asc: Yes; Condo Doc's: Yes; 1st Right of Refusal: Yes; Association Fee $: 865; Assoc/Mnt Fee Per: Monthly" I wrote more extensively about this unit before and stated two units were combined into one larger unit.

One of the reasons I like this unit is its size in comparison to other water view units. Compare this to a typical 1800 Atlantic unit with 1357 sq ft where the monthly fees are $884 and the views are nowhere comparable to Hilton Haven. I am not putting 1800 Atlantic down by acknowledging the fact that over half the units there are rented weekly or as monthly vacation rentals. There is no sense of community there. If you are a buyer looking for a home and not an investment, I would think Hilton Haven would be much more appealing. I met two other owners when I went to take photos. Nice people. This is the opposite of what an owner might encounter in Truman Annex where I have heard several horror stories about condo nazis.


Anonymous said...

Hi Gary, I'm sure I read your early comments about joining the two condos, I'm sure that is how I knew. My brother needs a bigger place (downtown Chicago) and every time he does the math of the larger HOA when joining 2 units, he winces.

I am reading the MLS and what I see is (copy and pasted)
Association Info: Mandatory Home Owners Asc: Yes; Condo Doc's: Yes; 1st Right of Refusal: Yes; Maintenance Fee $: 1,494; Assoc/Mnt Fee Per: Monthly
Fee Includes: Bldg Exterior Mnt; Building Insurance; Cable; Common Area Mnt

So I see $1500/mo

I agree with all the positives in this condo and like I said, it's a great compromise of location -- mid-town convenience but private. I ride my bike in the area and obviously there is no through traffic.

Gary Thomas said...

Dear Anon, I quoted the wrong unit. This unit must pay $1,494 in monthly association fees.

This unit is twice the size of 1800 Atlantic units and more than twice the size of several recent solds at Harbour Place in Truman Annex where an owner must pay both Tampoa master fee and condo fee.

I know people don't like the idea of paying big money for condo fees. Home owners must pay for maintenance, insurances, pool guy and maybe a yard guy. I pay $300 per month for yard guy and $125 average for pool guy plus chemicals. I don't have wind but pay about $6000 each year for fire and flood policies for about $500 per month. That is $925 each month without any payments for maintenance or repairs. My house is about same size as this condo. I would rather not pay what I pay but it is a part of the cost of living anywhere in Key West.

There is another unit available at this same development which is priced at $674,000. It is only 1108 sq ft and has a water view looking east. The monthly fees on it are $868. It's more affordable. It is not comparable to the unit in my blog.


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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.