tag:blogger.com,1999:blog-2740556909864494483.post8152040454766923127..comments2024-03-22T16:30:48.999-05:00Comments on Key West Properties: Award Winning Old Town Restoration - 627 Elizabeth Street - Key WestGary Thomashttp://www.blogger.com/profile/03006513292595034076noreply@blogger.comBlogger13125tag:blogger.com,1999:blog-2740556909864494483.post-34089204992647080242010-10-22T19:13:10.924-05:002010-10-22T19:13:10.924-05:00Now a "new" listing at $895k. Still too ...Now a "new" listing at $895k. Still too high.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2740556909864494483.post-46893181323860830092010-07-06T15:56:21.214-05:002010-07-06T15:56:21.214-05:00Having to call KWPD every time someone is in your ...Having to call KWPD every time someone is in your spot is not only annoying to them but does not bid well to the person getting the ticket. Could have been an innocent mistake or a visitor. Making new friends in the neighborhood does not mean you tattle on them. Also, keep crying wolf to KWPD and you may not like it. Price is high but the pool is nice.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2740556909864494483.post-8217767404615387482010-07-06T07:32:56.126-05:002010-07-06T07:32:56.126-05:00Lots of "experts" on this one, huh Gary....Lots of "experts" on this one, huh Gary. OSP in that block is not that big of a deal, except possibly in season. I live 3 blocks south and we have only 5 spots for residents and 4 not marked. There are 3 B&B's and 7 Fish in that block also. Any time there is a non-resident in a resident parking spot all I do is pick up the phone and call KWPD and within a few minutes there is a ticket on the window. As for the price, seems kinda high for a 1,300 sf house. At that price point your buyers should take a look at my neighbors house, 2,000+ sf and a parking space...<br /><br />The Masked Parking NaziAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-2740556909864494483.post-65938891349972143362010-07-03T09:52:38.104-05:002010-07-03T09:52:38.104-05:00The Monroe County Tax Rolls show the owners bought...The Monroe County Tax Rolls show the owners bought the house in 2006 for $599,000. It was a fixer. They did a lot of work - major strutural changes, the 7' x 16' pool, new a/c, new deck, new fixtures, etc. Now here is the kicker - I know this house from before (thought about buying it actually) and they added the second story. Yes, the sellers did a lot of work and I would guess about $250K in construction costs. Add that to the sold price and they are in around $850K give or take. I also remember this house listed just a couple years ago for over $1.1M (granted, it was the high point of the market). Nice house but please say the owners are not being realistic right now. I am with the Captain and say $750K may $775K tops. We shall see. Even if they get mid-800's they are barely breaking even on their investment.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2740556909864494483.post-88194050725113136772010-07-03T07:51:31.530-05:002010-07-03T07:51:31.530-05:00I forgot to mention that the real property taxes o...I forgot to mention that the real property taxes on any property are based on what that buyer pays.<br />The Co Property Appraiser values this home at $622K and taxes are at 10 mills. <br />GaryGary Thomashttps://www.blogger.com/profile/03006513292595034076noreply@blogger.comtag:blogger.com,1999:blog-2740556909864494483.post-71000481776961792082010-07-03T07:29:35.361-05:002010-07-03T07:29:35.361-05:00Captain, the house you mentioned was an absolute s...Captain, the house you mentioned was an absolute steal. I showed it to several buyers during the many months it was for sale (at higher prices and after changing realtors and significant price drop). Almost every buyer dissed the architecture as not being Key Westy. Yet, the architect is one of our best. The style was more New York City loft. And while it had parking, the space was not very large or convenient to use. Still a great deal!<br /><br />As for the critiques about this house, unless you have been inside I think you way off base in your descriptions. There is nothing KMART about this home. These owners built this place as their permanent home and used top of the line fixtures and materials. And shut up about colors. What HGTV Design Show gave you credentials?<br /><br />Circumstances changed. I view your comments as almost hurtful. And they are not factual.<br /><br />I also disagree on the $750,000 price. I had two closings for single family homes in Old Town in June that were priced at $775,000 each. Both very nice homes. Neither had a pool and one did not have parking. Those buyers got great houses. I think the sales price on 627 Elizabeth will probably be somewhere in the mid $800s if it sells. That price would be a BARGAIN for someone who wants a great house in a great location. Accept that there is no osp and put in more plants. You'll make out like gangbusters!<br /><br />GaryGary Thomashttps://www.blogger.com/profile/03006513292595034076noreply@blogger.comtag:blogger.com,1999:blog-2740556909864494483.post-23693419515133789022010-07-03T01:22:17.708-05:002010-07-03T01:22:17.708-05:00Residential parking anywhere in Old Town is a nigh...Residential parking anywhere in Old Town is a nightmare but more so in season. Tourists, vacation home renters and local day visitors do not always respect the residential parking markings and I know for a fact there are three vacation home rentals in this part of the 600 block of Elizabeth Street as I have been in two (both with the same rental real estate company). A tight street and no where to park? Unless on another block? In any weather? I now know why a buyer will pass on this property and that is before we discuss the price!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2740556909864494483.post-49974520120106780722010-07-02T23:42:48.931-05:002010-07-02T23:42:48.931-05:00I agree - neutral would be better than the decor p...I agree - neutral would be better than the decor presented. To me it does not seem a 'high end' re-do; more like a step below, like if only they had spent a few dollars more. The kitchen cabinets look stock Kraftmaid with Home Depot knobs - not what should be in a home at this price. The backsplash tiles look cheap like those leftover from a bathroom remodel somewhere else - they could have opted for subway or small glass tiles. The Kmart blinds belong in a rented apartment - custom wood blinds or plantation shutters should have been in the budget. The furniture is awkward interferring with hallway traffic and the ceiling fans are typical builder grade white - another Home Depot purchase. Worn chair cushions, cheap bedding, tired teak and personal portraits scream for a make-over by a professional home stager. New paint is in order. It looks like they settled for a 'B' when they could have gotten an 'A'. For the price they are asking, they should have spent a little money on the visual as the details I listed would have given the home a better chance to sell. This market requires sellers to up the ante with higher end touches - which are becoming the norm.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2740556909864494483.post-33787799713954870282010-07-02T21:51:17.572-05:002010-07-02T21:51:17.572-05:00With this bunch in DC it is time to re-think all i...With this bunch in DC it is time to re-think all investments. In my part of the world expenive beach fron rental are empty of tourest as well as the 100.00 night cottage. The high and low have taken a time out. The low have no work so no money and the high wonder if they are high enough to advoid the flood of new taxes and that is the money spent on T-shirts.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2740556909864494483.post-46227816120826720562010-07-02T19:03:11.147-05:002010-07-02T19:03:11.147-05:00Yes it is overpriced. And the owner is a realtor ...Yes it is overpriced. And the owner is a realtor too. They bought high, did the renovations and now want to get a price we haven't seen since 2006. But if they sell at 750K they will take a loss I bet. And no parking? Not at that price on that busy street. It is nicely decorated but still very taste specific and won't appeal to many buyers. The tile work in the kitchen is a major turn off too me but that is just my opinion. Too many key lime pie green and sky blue homes are around - it needs to get neutral and decluttered from some furniture to sell quicker. But that is just my opinion.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2740556909864494483.post-62119776192161343022010-07-02T16:02:32.212-05:002010-07-02T16:02:32.212-05:00I agree with the previous two posts. A price close...I agree with the previous two posts. A price closer to $750,000 is more appropriate for this house. Unfortunate for the owners, but they bought before the market tanked and are trying to recoup that high purchase price + remodel in a down market. $750,000 gets them much more in line with the avg. price per sf of recent sales. $725,000 would make the house move a lot faster, probably. <br /><br />Too bad about no OSP. Probably a major issue for a lot of buyers.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2740556909864494483.post-67185172792466017062010-07-02T15:07:53.980-05:002010-07-02T15:07:53.980-05:00The Captain says:
I agree, the house is way overp...The Captain says:<br /><br />I agree, the house is way overpriced. The 2 story house on the corner, 600 Elizabeth, sold for less than $200sq ft altho admittedly it was (last time I looked still is) in bad shape. The other 2 story with a pool on the corner (you can't miss it as you go south on Elizabeth, it's blue and yellow and was designed by a prominent local architect)sold for only $675k. And that house had parking! Price on this one needs to come way down.<br /><br /><br />Captain out.........................Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2740556909864494483.post-55278739581894158232010-07-02T13:37:32.557-05:002010-07-02T13:37:32.557-05:00It is a very nice house but the lack of parking is...It is a very nice house but the lack of parking is a real turn off especially on Elizabeth Street (which I think is one of the best in Old Town) and in this block. I don't know what to say about this one - nicely done but it needs to come down in price especially since it has been out there a few months (they may have listed it too late in the season to catch a prime snowbird buyer). Also, those taxes seem kinda high for a house with homestead exemption doesn't it?Anonymousnoreply@blogger.com