tag:blogger.com,1999:blog-2740556909864494483.post7715121690800592593..comments2024-03-22T16:30:48.999-05:00Comments on Key West Properties: Invest in Key WestGary Thomashttp://www.blogger.com/profile/03006513292595034076noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-2740556909864494483.post-81271698061173761832009-03-06T14:53:00.000-05:002009-03-06T14:53:00.000-05:00Really enjoy reading many of your stories and info...Really enjoy reading many of your stories and info...we are heading down next month and are looking! We want to know what are the best restaurants as many relatives from Europe visit...real seafood and real jerky, the faves.<BR/>Will continue to watch your articles...big help. Also...what is best rental on monthly and weekly basis?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2740556909864494483.post-12059504578458303652009-03-02T15:36:00.000-05:002009-03-02T15:36:00.000-05:00Captain, 910 United has been on and off the market...Captain, 910 United has been on and off the market for over 10 years. The short period of time it was "off" is when someone got a big loan to buy it and start a shoddy re-do. The place is a wreck. But at the right price, that wreck could be a good buy. And, oh yes, I did submit an offer for a cash buyer last year. Not even a counter from the bank. <BR/><BR/>Southard Street has also been on the market for a few years. It stays rented. The configuration of the property makes it a difficult re-do for someone wanting a pool, especially since you cannot put a pool in your front yard. The mailing address is Southard,but the actual front is on William. I guess a buyer might negotiate a pool, but he'd have to lose part or all of one of the buildings that make up this place.<BR/><BR/>The personal representative of an estate is trying to sell several multi-family properties. True, they've been on the market for eons, but one special property could be worth a fortune to the right buyer because of its location.<BR/><BR/>The place on Eaton Street is a constant money maker and has 15 years of solid rental history and records to back up what I say.<BR/><BR/>I'm not saying to buy at the asking price, Captain. The market has already beat up the sellers. But I think they are expecting another beating before it's finally over.<BR/><BR/>GaryGary Thomashttps://www.blogger.com/profile/03006513292595034076noreply@blogger.comtag:blogger.com,1999:blog-2740556909864494483.post-55204263908259837992009-03-02T14:20:00.000-05:002009-03-02T14:20:00.000-05:00The Captain comments:Gary, as always I enjoy your ...The Captain comments:<BR/><BR/>Gary, as always I enjoy your blog and like how, with this particular post on multi-unit/commercial, you mix things up.<BR/><BR/>However, your list of multifamily units has disclosed (knowingly or not) something that has troubled me for some time, that is, the length of time some properties have been on the market. 802 Southard has been on the market (if you can even call it that) an astounding/embarassing 954 days. Close to 3 years. In comparison, 915 Pohalski, 1130 Elgin Lane and 919-921 Southard have only been listed a mere 514 days. 1125 Washington just over a year, 720 Windsor Ln just under a year. Is it unrealistic sellers, incompetent brokers, more stringent lending requirements for commercial use or is it that the multifamily market is even worse than the single family market? My personal opinion is a combination of all of the above, but always of paramount importance is the price. Knock $150-200k off the listing price of each of these properties and maybe there will be some movement. Until then they'll continue to sit.<BR/><BR/>On a similar note, 910 United (not on your list) has been bank owned for a full year (I have no idea how long it was listed before then as a short sale, do you?). Can you believe the incompetence of that bank (and their agents)that they have had to carry this property (taxes alone over $7k)for that time period. That property should have been unloaded within 90 days. No wonder the banks need a bailout. <BR/><BR/>Captain out.......Anonymousnoreply@blogger.com