704 William Street - Key West - Hidden Treasure

704 William Street - Hidden Treasure in Old Town Key West

The delightful house at 704 William Street in Old Town Key West is close to everything important but many people can't seem to find it. If you are familiar with William Street, you know it is one of the best blocks in Old Town. It starts at the Historic Key West Seaport and ends up in the Casa Marina area just a short distance from the Atlantic Ocean. It makes a dog leg jog to the west where it intersects with Windsor Lane. And that's why the 700 block of William Street is so hard to find. Windsor Lane is a one-way street heading the wrong direction. Honest folks see the One Way - Do Not Enter sign and obey it. They can't figure out how to get to the 700 block of William Street. I simply turn right and go against traffic for the 15 feet or so and then turn left. However, if you are afraid of going to jail for such an infraction, you could take Windsor to Passover Lane and turn right at Bill Butler Park. Or you could drive back over to Truman and turn right at Elizabeth, go north and go to Olivia then travel a block and turn left on William Street. There is no sign and the street is only about 10 feet wide at that point. You would turn left and wind your way around the park and finally find end up at 704 William. Simple, isn't it. Trust me when I tell you that if you buy this house, you won't have lots of Conch Trains and Trolley cars going past your house. Nor will you have hordes of tourists in electric cars or motor scooters driving past your house with horns a honking. CLICK MAP to see 704 William Street. (Even Google makes mistakes. The street view shows 704 William from a distance of perhaps 30 feet away.)

The listing Realtor describes 704 William Street this way:

" Beautifully renovated throughout with 2 story addition in a sweet and quiet old town location. Totaling 3bd/ 4ba all ensuite, you will marvel over the private layout this split floor plan boasts with seperate staircases to 2 second story bedrooms. Gorgeous kitchen with top the line cabinetry, high end appliance package and stone countertops. Bright, airy and open with vaulted ceilings in great room and double French doors to heated pool with dramatic water feature."

Bright, airy and open with vaulted ceilings in great room

Heated pool with dramatic water feature

This house functions very nicely as a get-away vacation home.The master bedroom is on the second floor. It has vaulted ceilings and lots of space that make for very comfortable living. The ensuite bath is bright and airy. A second bedroom on the first floor has its own enuite bath and there is a door to the front porch where you can watch nobody go by. (Remember, you can't find this house.)

Master bedroom

Master bedroom with en-suite bath with lots of mood lights

A third bedroom is located on the second floor of the adjacent wing. That bedroom could rival the master bedroom in many Old Town homes. That bedroom also has an ensuite bath.

The listing agent says the house has 3 bedrooms but there is actually a fourth room that can be used as a den/office/study/optional guest room because it has an adjacent bath. This room does not have a door for privacy but it does have a set of French doors that open out onto the beautiful pool for a quick midnight dip. CLICK HERE to checkout the mls listing data sheet and to view listing photos.

When you open the front door your eyes are immediately drawn to the dramatically vaulted ceilings of the great room and kitchen. The space is so open and inviting. The kitchen is so "user friendly". A set of double French doors beckons you to look out to the pool, and a beautifully crafted stairway on the opposite side of the kitchen suggests something important must be located at the top of the stairs. (Remember the master bedroom?) The pool has a waterfall feature and the rear yard does get quite a bit of sun. I have no doubt a serious sun worshipper will have all the space he or she needs to be a golden god or goddess all year long.


This home has 1654 sq ft of space that has been thoughtfully divided between the two connected buildings. The house is now priced at $999,000 or $604 per sq ft. This is a lot of house for this price. And even though I tried to be a little funny about the location, this really is a great location. Duval Street and the Historic Seaport are just minutes away by foot or bike. Charlie's Grocery is the only neighborhood store for blocks and it is just around the corner. Bill Butler Park is located at the end of the street where William curves and becomes Poorhouse Lane.

This house does not have off street parking but there may be space to create an off street spot if a non-protected palm tree were removed. I know from experience that buyers who pay a million bucks for a house expect an off street parking spot. I think it is achievable but I do not think it is necessary.

If you are looking for a large home in Old Town that has been thoughtfully renovated, you might want to take a look at 704 William Street. I am a buyers agent and I would love to show you this home. Please call me, Gary Thomas, 305-766-2642. I am a full time Realtor at Preferred Properties Coastal Realty, Inc. in Key West, Florida. And I know how to find this house.

525 Grinnell Street - Old Town Cottage - Short Sale

525 Grinnell Street- Old Town - Key West - October 2010

525 Grinnell Street in 1965

Just listed, but not by me, 525 Grinnell Street in Old Town Key West. This just might be that great little cottage you have been waiting for. It seems like so many would-be second home buyers want pretty much the same type of property, to wit: (1) Old Town; (2) two bedrooms; (3) priced right; (4) parking; (5) good condition but willing to do a little fix-up if required; and (6) pool as desirable but often not necessary.

You can't beat the location. One of the top real estate producers is redoing a big house a couple of doors away. He knows a thing or two about locations. He chose this street for a reason. A very famous recording artist lives across the street and down the lane and a former Washington very big wig lives doors away. More important than who you might have as neighbors is why the location is sought after. It is just two blocks to the Historic Key West Seaport and Duval Street is only four blocks west. Five Brothers is up on the corner on Southard, the Old Town Bakery is one long block away on Eaton, Azur, Michael's, and Mangia Mangia are two minutes away. The locations is convenient to everything but it is not in the middle of the action. CLICK MAP for an aerial view. And CLICK STREET VIEW to checkout the neighbors.

This 808 sq ft home was updated six years ago. It has two bedrooms, 1 1/2 baths, a new kitchen, and a very comfortable feeling. The master bedroom is fairly good sized and the second bedroom is good for a child, an occasional visitor, or it would make a great office.

The listing Realtor describes the property this way:

"Welcome to your Starter Home in Paradise. This sweet Conch house sits in the heart of Old Town, has 2 bedrooms and 1.5 baths. Located on the corner of Grinnell Street and Lowe Lane the home is within walking or biking distance of all the attractions and amenities that Duval Street and Old Town Key West has to offer. This is a potential short sale that may be subject to third party approval."

CLICK HERE to checkout the mls listing info where you will see the asking price (key requirement for so many second home buyers is affordable price) is just $275,000 or $340 per sq ft which sits on a 30' x 50' lot. (The lot ain't a lot of lot!) Remember this is a Short Sale. Lender approval will be required. But I think the seller's agent got the asking price right. There is some fix-up required and the place is small. That's why I think the price is on target for approval.


The photo above shows a big white privacy fence. That is where you could have off street parking. There is a curb cut in existence. The current owners use the space for outdoor living area, and I think that is the highest and best use for the space myself. This block is mostly single family homes. I have never had a problem finding a place to park when going to any home on this street. Off street parking here is an option but not a requirement.

The home was update in 2004. I'm not a contractor but I did notice a couple of things that need repaired including the French doors and air conditioner. But the house itself is in move in condition and ready for a new owner.

The sixth item on many buyers' wish list is a pool or the space to add a pool. Well, this lot is just too small. The Key West building code would not permit an in ground pool because of the setbacks and location issues. I have a solution, however. The Conch Harbor Marina is just two blocks away and there is a huge pool CLICK HERE located there. Go there and buy a few cocktails and lunch and save the cost of pool maintenance and electricity to run your own pool. You'll be money ahead and the tan will look the same as if you got it at your own pool.


I would probably ask the city for permission to remove the existing decorative concrete block front porch (see above photo) so that I could replace it with a more historically correct wood railed porch. I would also put in a white picket fence across the entire front space and add a gate to preserve the right to park a car at some future time. The front would look wonderful.

I don't see a new buyer as having to spend a lot of money to make this place really damned adorable. If you are a potential second home buyer and are looking for a place in Paradise, please call me, Gary Thomas, 305-766-2642 or send me an email at kw1101v@aol.com. I am a full time Realtor at Preferred Properties Coastal Realty, Inc. (That means I will be then when you need me. I won't be off fishing or boating or working someplace else. I'll be there when you need action.) Don't wait on this. I don't think it will last long.

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Pelican Landing Penthouse - Key West Waterfront - Short Sale

The listing Realtor for the Pelican Landing Penthouse unit said it all when he wrote

"Current owner's loss is your gain! Here is your chance to buy a 4 bedroom waterfront income property on the edge of Old Town. This is a very large penthouse unit in a newly renovated building. Access to boat slips included! This is a potential short sale transaction that may be subject to third party approval."

The current owner purchased this property at the height of the real estate boom and paid $1,250,000 for the property. The market turned down and at about the same time the building underwent a major renovation (with jackhammers). Revenues were down and vacancies were up. That renovation was only recently completed.

The unit is located on the north side of the building so it is the furthest removed from the street traffic as it passes at the corner of Eisenhower at Truman. Pelican Landing is located across the street from Bayview Park, the main park for the City of Key West.
This unit would make a really nice permanent home for someone wanting a water view with a boat slip but it would also make a great getaway property for an investor that wants a waterfront property with a real water view with all the amenities I will mention below for a great price.

This unit has a transient license and is currently managed by the on site manager at Pelican Landing. The main floor area includes large living room with access to huge rear deck that overlooks the Garrison Bight Marina and the Pelican Landing boat slips below. Deep water access is at the back door and sunrises are available every morning from the living room and the very large master bedroom that also has the stunning early morning sunrise views. The kitchen and dinging area on the first floor. A second bedroom and bath have a "lockout" capability. There is an interior stairway that leads to two additional bedrooms and baths on the fifth floor. These two bedrooms have their own front balcony that provides an incredible view of Old Town, the Gulf of Mexico to the north and west and you can sort of see the Atlantic Ocean to the south. Al fresco tanning is added gratis.

If you are a buyer with a large family or you have a lot of friends, this may be the place for you. There is a nice sunny pool at ground level that overlooks the marina. Each unit has access to the boat slip and boat slips may be rented separately to provide income when guests or owners are using them. The lockout provides ability to rent the single bedroom nightly even while the owner is using the rest of this very large unit.

This property is priced offered at $650,000. The seller is obligated to pay about $70,000 for an unpaid special assessment to cover its proportionate share of renovation costs. This amount will be passed on to any new owner. CLICK HERE for more detailed info on this unit and to view listing photos.

If this sounds like a property that you would like to own, please call me, Gary Thomas, 305-766-2642 or email me at kw1101v@aol.com for more info. I am a full time Realtor at Preferred Properties Coastal Realty, Inc. in Key West, Florida. .

903 Thomas Street - Key West Charmer !

903 Thomas Street Key West - Classic Eyebrow House

The outdoor living area at 903 Thomas Street overlooks the cool pool !

This is what I refer to as the Cool Pool !

Vaulted ceiling in the bright and cheery kitchen that overlooks the cool pool as well

As soon as you cross the threshold and enter the Eyebrow house at 903 Thomas Street, you know you have walked into a home that was restored with love and attention to detail. This is no cookie cutter, could be located anywhere house. This is a true Key West classic. This is how the listing Realtor describes this home:

"Charm and price make this exceptionally well renovated cottage in the heart of Old Town a best buy and a must see. With 3 bedrooms/2 baths plus den/office this classic eyebrow home is in a gated compound with three single family homes lushly landscaped with an outdoor shower, shared pool with waterfall, off street parking, all new plumbing, electric, and HVAC. This is the perfect investment or your personal tropical paradise not to be missed. Seller is licensed Florida Realtor - not listing agent."

This place is captivating. The owner did the restoration himself several years ago. But the place looks as fresh today as it did then. The house is laid out like many Key West houses with the bedrooms at the front and the living area at the rear overlooking the pool and garden area.

Downstairs there are two bedrooms on either side in front. The bedroom on the left has an armoire built into the wall. What a beautiful piece of furniture and an equally novel way to use it. This was an OMG for me. The bedroom on the right is bright and cheery. The center hall leads back towards the kitchen with a vaulted ceiling. Unfortunately, the photo I took of the kitchen does not show the height or equally clever use of space. Rats!!! Just to the left is a separate office area (not a bedroom) and the downstairs bath. The dining area and living room wrap around the kitchen which is open to the living room. But the real kicker is the covered outdoor room that overlooks the cool pool with its adjacent bar and grill area to the north. There is a private garden and outdoor shower area on the right side of the house. Since this is an eyebrow house, there is a second floor where the owner located the master bedroom and bath. Everywhere you look, outside, inside, first floor, second floor or just the stairway, you can tell that his home was lovingly restored and made better than before.

This house is technically a condominium because the pool and some of the rear area are owned in common with the two other cottages that are adjacently located. But each of those houses have their own separate private spaces as well. Here each homeowner maintains his/her own residence as in "fee simple" ownership. The common areas (including pool and deck) are maintained the the association. There are many similar type of condominium, townhome, and compounds in the Old Town area of Key West. And 903 Thomas Street has its own private parking space.This just happens to be one very precious home that is oh so charming and that is now priced to sell. The new asking price is just $525,000.

903 Thomas Street is located two blocks from Duval Street and just one block west of the Ernest Hemingway House at 901 Whitehead Street. If you watch JEOPARDY, you would have known that address (Hemingway and Key West are frequent clues).) One block to the north you will find two competing eateries, Blue Heaven and La Creperie which is a new addition to the corner of Thomas and Petronia. I recently had brunch at La Creperie. It is so cute and great food. Santiago's Bodega is one block further west on Petronia. Ft. Zachary Taylor State Park and the coolest beach in Key West is a five minute bike ride.

CLICK HERE to view the mls listing information and to view 15 photos of this home. Better yet, call me, Gary Thomas, 305-766-2642 to schedule a showing. I am a full time Realtor at Preferred Properties Coastal Realty, Inc. in Key West, Florida. 903 Thomas Street is a lot of house for the money. You owe it to yourself to take a look - with me!

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901 Grinnell Street - Old Town Home with Transient Rental License

Just listed, but not by me, 901 Grinnell Street in the Old Town area of Key West. There are three reasons this house will go under contract very quickly: (1) the location; (2) the price- just $695,000; and (3) the Transient Rental License which makes is permissible to rent this home on a daily basis every day of the year. Read on.

The listing Realtor describes this home like this:

"Wonderful Old Town historic home with transient license loaded with Key West Charm. Gorgeous Dade County Pine walls, high ceilings, open floor plan and large pass-through windows from kitchen to the outdoors. Lush tropical yard boasts a large second floor balcony providing breezes throughout the day. Heated pool, outdoor shower, and desirable location make this the Quintessential Old Town Key West retreat."

The house sits on the corner of Olivia Street and Grinnell Street. The Key West Cemetery is across the street. Olivia Street is a small one-way street more often used by locals than tourists. It is an active little street for bikers and pedestrians but not so much so for cars. I don't recall ever seeing a Conch Train or Trolley Car there. The views from the second floor deck that overlook the cemetery are wonderful. Readers may not appreciate the wonderful expansive Key West skies because so much to town is closed in by really tall trees and neighboring homes. This place is the opposite. It has commanding views of the skies. And this is a view that will never, ever change. CLICK HERE to view exterior photos.

The house itself is pretty much as the listing Realtor describes: Dade County Pine walls with open living area and lots of charm. CLICK HERE to view the mls datasheet and to view more photos of the house and grounds.

A lot of second home buyers want the opportunity to rent their home when they are not using it. This place might meet your needs if you are seeking a place like this. Duval Street is a five minute walk to the west. Truman Avenue is one block to the south. The White Street arts district is a five minute walk to the east. This is the area with the highest concentration of gyms and yoga studios. Faustos Food Palace is located on White Street as are lots of great neighborhood hot spots. The Atlantic Ocean is perhaps a seven minute bike ride. Likewise, you could walk or ride to the Historic Key West Seaport in about the same time. Tourists will find this an easy location to get to their favorite places.


If you are looking for a second home in Key West and want to be able to rent it to help pay for the purchase, this charming little home with a valuable Transient Rental License may be what you have been waiting for. Please consider contacting me, Gary Thomas, 305-766-2642 to help you find your place in Paradise. I am a full time Realtor at Preferred Properties Coastal Realty, Inc. in Key West, Florida. Our office is the Exclusive Lower Florida Keys affiliate of Christie's Great Estates. This house is not an estate, but boy would it be great to own!

713 Windsor Lane - Key West Writer's Compound

713 Windsor Lane in the Key West Writer's Compound

Just listed, but not by me, a charming cottage a most desirable location: The Key West Writer's Compound - more particularly 713 Windsor Lane. This is how the listing Realtor describes this treasure:

" Quiet Cigar Maker's Cottage in a secluded community of 11 homes reserved for those who enjoy peaceful living and are 55 years of age or older. Main home is a 2 bedroom , 2 bath with porches in both the front & rear and upstairs is a 1 bedroom, 1 bath apartment with tree top views of the meticulously maintained grounds. Both kitchens and all bathrooms have been newly renovated with wooden cabinets & granite counter tops. This tropical oasis enjoys a huge shared pool and deck area."

713 Windsor Lane as it appeared in 1965

The black and white photo above was taken of the property in 1965 before the compound was created. The Monroe County Property Appraiser's records show that this property was totally renovated in 2003. I remember submitting a near 100% asking price offer on this property to the developer who quickly turned it down. My buyer was beside himself at not getting this property. Today, this 1488 sq ft duplex is offered at $525,000 or $353 per sq ft. CLICK HERE to review the mls datasheet and to view the listing photos.

The Key West Writer's Compound is "hidden behind the white stucco wall, is a collection of once run-down shacks and shanties, frame cottages perched upon limestone piers, later restored as the winter residences of such literary luminaries as poet Richard Wilbur [former U.S. Poet Laureate], critic John Ciardi, writer Ralph Ellison and Hiroshima author John Hersey. There are several literati compounds in Old Town,and this complex, established in 1976, with its landscaped walkways and a central pool, is one of the most charming. Wilbur won the Pulitzer Prize for poetry and is renowned for his translations of Moliere; Ciardi, a critic, also translated Dante’s Divine Comedy; Ralph Ellison wrote The Invisible Man; and John Hersey, taught at Yale for 18 years and won the Pulitzer Prize for his writing debut, A Bell for Adano." (From SeekKeyWest.com with Sharon Wells.)

( I sold the Hersey home earlier this year. It was still filled with Hersey's furniture, art, books, and general stuff. I sat in the chairs in the living room and felt like I was in another era.)

The compound itself is an assemblage of other cottages that were built for the Key West working class. They were nothing extra-ordinary. I see the simplicity of their construction as perhaps the biggest reason the writers chose to congregate there. Today a large fence sets the compound apart from the street. Two large gates open onto a wide bricked walkway that navigates pedestrians to each of the homes in the compound. There is a large pool located near the east side of the property. I don't recall ever seeing anyone actually swimming there, however. I do recall admiring the great views of specimen trees and brightly colored foliage. The compound would be a treasure on its own even if the notable writers had never lived there. But they did and that sets this property apart and makes the compound very notable.

The red X marks the location of 713 Windsor Lane (above photo)

The top of Solares Hill is just a couple of houses to the west of 713 Windsor Lane. 713 Windsor Lane is located in the X Zone for flood insurance purposes. Flood insurance is not required in the X Zone. Since units in the Writer's compound are classified as land based condos, as an owner you would have to buy your own property insurance including flood, windstorm, fire and general liability. The duplex at 713 Windsor Lane is part of a land based condo association for common area ownership purposes but the building itself is located on a piece of ground that is owned in fee simple estate. (Just like your home up north in America.)

Looking eastward toward the Key West Cemetery from Windsor Lane at William St.

Looking westerly up Windsor Lane near the William Street intersection

The famous Solares Hill Grocery (now called Charlie's Grocery-see photo below) is located near the summit of the hill (elevation 18 feet) at 648 William (corner of William and Windsor Lane). It's the only store or commercial enterprise for several blocks. You could send "Lovey" for a loaf of bread, a gallon of milk, coffee or cigarettes and think nothing of it.

Charlie's Grocery is located just around the corner from the Writer's Compound

The Writer's Compound is just a few short blocks walk to the Historic Key West Seaport to the north or a three block walk to Duval Street to the west. That's part of the joy of living in a great location like the Writer's Compound: you can be anywhere important within a few minutes.

If you are looking a a great place in a great location at a really great price, this property may be exactly what you are looking for. Remember, at least one owner must be at least 55 years of age to be able to buy into this compound. No children under 18 are permitted at the pool-ever. If you have little grand kids or nieces the nephews, this won't work. Otherwise, this is a place to consider. Call me, Gary Thomas, 305-766-2642. I am a full time Realtor at Preferred Properties Coastal Realty, Inc. in Key West, Florida.

The Curry House - Key West Guest House

The first floor veranda welcomes you to The Curry House

Just re-listed, The Curry House - not to be confused with the Curry Mansion.

This is how the listing Realtor describes this Key West classic (and classy) accommodation:

"Great new price! Boasting classic Old Town Key West charm, the historic Curry House Bed and Breakfast offers a unique opportunity to own one of the few B&B's with a commercial kitchen to provide hot meals to guests. Built in 1889, this charming three-story house has 9 guest rooms, wrap-around porches, private verandas, parlor and spacious rear patio opening onto the large heated pool and gardens. Rooms feature hardwood floors, Dade county pine, refrigerators, cable TV, phone, wireless internet, A/C and ceiling fans. Located 3 blocks to Duval Street and the Historic Seaport, this alluring B&B welcomes gratified guests year after year. 8 transient licenses and managers unit. Turn-key operation."

The current owners prepare a cooked to order breakfast served poolside

The Curry House is all of the above and more. Let me start my remarks by getting a bit nostalgic. I've mentioned before that I learned of Key West by an article I read in After Dark Magazine sometime in the 1970s. After I read about Key West I needed more info and as luck would have it a story soon appeared in The Advocate Magazine. The article said Key West was the new gay travel destination. The article included info on the Curry House which was the first all gay guest house in town. There were photos and the story of how the two owners bought an old mansion and turned it into a gay guest house. Later, when I was making my plans for my first visit to Key West, I called to book a room at the Curry House. Couldn't do it. There was no room at that inn because it was solidly booked. After I got to Key West I did walk past the place and was very impressed. I was happy with were I stayed but I also felt I missed out on something better.

The Curry House has traded owners the 25 years since my first visit. The current owners converted the Curry House into an "all welcome" guest house meaning it is no longer exclusively gay male. They added four poster beds in most rooms and did a bit of necessary updating. They replaced the old pool with a new one, and boy does it look enticing. (See the photo below.) The other photo below shows a view from the second floor rear veranda. What a view it is! All but one of the guest rooms have direct access to an outside porch right off the guest room.

The new pool as seen from the second floor veranda

Looking south from the second floor veranda - isn't it lovely?

This is the front second floor veranda looking out to Fleming Street

The Curry House is located on guest house row at 806 Fleming Street. Other guest houses on Fleming Street include The Oasis, The Coral Tree Inn, Coconut Grove, The Equator, Alexander's, The Island House, and Nassau House. The Frances Street Bottle Inn, the Island City Guesthouse, and the Popular House are also located nearby. The location is great for visitors because it is close to the Historic Key West Seaport where you will find great restaurants, fishing, para sailing, and snorkeling trips. Duval Street is just four blocks to the west. It's an easy trek back to the room even after a night of too much pasta or too many cocktails.

CLICK HERE to checkout the mls datasheet and to view lots of photos of The Curry House. The Curry House is offered at $2,950,000.

Some readers may know that I eventually purchased and ran a guest house in Key West. I have sold others as a buyer's agent. I think I have some valuable insight that I can add to help a serious buyer decide if the Curry House or any other guest house might work for a particular buyer. If you are thinking of buying a guesthouse in Key West, please consider working with me, Gary Thomas, 305-766-2642. I am a full time Realtor at Preferred Properties Coastal Realty, Inc. in Key West. Thirty years ago you had to wait for a magazine to tell you about far away places like Key West. Today the Internet can provide lots of information by the click of a link. Having a Realtor who used to own and run a guest house might prove useful to a buyer seriously considering making the move to Key West.

Key West Foreclosure Update and More

There has been a lot of discussion in the media recently over the large number of foreclosures. Below you can read my thoughts about what is happening in Key West.

I made my own inquiry in the Monroe County Clerk's online records for September 2010 and compared the results to September 2009. I did a very superficial review of two fields that show the filing of new foreclosures (which occurs with the filing of a Lis Pendens). I did a similar review to determine how many Certificates of Title were recorded. (A Certificate of Title is the document by which the Court approves after the sale of property at public auction through judicial foreclosure. (The judge basically looks at the file to determine the rules were followed and the property was sold to the highest bidder.)

There were 70 new Lis Pendens filed in Monroe County in the month of September 2010. Only 17 of those Lis Pendens were for properties located in Key West ( including Stock Island). There were a whopping 152 Lis Pendens filed in Monroe County in September 2009. I counted 42 Lis Pendens filed against homes in Key West plus 8 timeshare units in September 2009.

Number of Lis Pendens Filed Sep 1 to Oct 1, 2009 all of Monroe County 152
Number of Lis Pendens Filed Sep 1 to Oct 1, 2010 all of Monroe County 70
Percentage Difference - .46% reduction

There were a total of 34 Certificates of Title issued by the Circuit Court in Monroe County in September 2010, but only 11 of those sales were for properties located in Key West. Furthermore, and definitely worth noting, 9 of the 11 Certificates of Title were for time share units. Only two of the Certificates of Title for residential properties in Key West. The number of Certificates of Title in 2009 for all of Monroe County was 64. Key West only had 18 Certificates of Title issued and 3 of those were for timeshares.

Number of Certificates of Title September 1 to October 1, 2009 64
Number of Certificates of Title September 1 to October 1, 2010 34
Percentage Difference - .53% reduction


For the readers who want to challenge my take on what is going on, have at it. I do invoke the admonition of Lawrence O'Donnell of MSNBC who says you are entitled to your own opinion but not own facts. Interpret the data as you want.

Maybe I am missing something but it looks to me like Key West has made a significant recovery over the same time period a year ago. There have been a couple of items in the media over the last couple of days where it was noted that JP Morgan Chase and Bank of America are suspending new foreclosures for a while. I noticed (and previously mentioned) the reduced numbers of new foreclosure filings. This has been occurring for the past few months. The reduced number of Lis Pendens substantiates this. I really think we are beginning to see a decline in the real number of new foreclosures.

There will, however, continue to be new short sales and new bank owned properties. The Monroe County Circuit Court is slowly working its way through a large number of previously filed foreclosures where the owners are contesting the lenders' right to take back the houses or condos that were not paid for. Most of these cases will likely be resolved in favor of the lender and probably end up as bank owned properties. The decrease in new foreclosure filings does not mean an end to the foreclosure crisis. It just won't be as bad as it was.

Sales at the Key West Golf Course have reversed course and prices are on the rise. Not by a lot and not in all cases. But prices are going up, not down.

Expect to see prices for single family homes in Old Town start to rise by December. Each year sellers put new properties on the market just ahead of the arrival of the snowbirds. Season (that time between Christmas and Easter) is prime selling time when buyers with money come to find new winter nests. Some bring lots of money and decorators. Others bring big hopes and the desire to get a good deal.

Most of the new listings I have been writing about for the past few months have been bank owned and short sales. I expect many of the new listings of nicer Old Town and Casa Marina area homes will be real world sales where the seller is not trying to sell a distressed property. You must remember that not all sellers are in trouble. These new sellers will add properties at higher price points. I know many readers follow our mls listings like hawks. Get ready for sticker shock. The supply of "nice" houses is low.

Houses that have not sold did not sell for a reason. It could be that they have been priced too high, but it could also be because of where they are located or that they required too many repairs. Nice costs more. Good location costs more. No work, very nice, great location costs a lot more.

If you are looking for a short sale property, a bank owned home or condo, or a stately Old Town property, please consider working with me, Gary Thomas. I am a buyer's agent. You can reach me at 305-766-2642 or by email at kw1101v@aol.com. I am a full time Realtor at Preferred Properties Coastal Realty, Inc. in Key West, Florida. Our office is the Lower Florida Keys Exclusive Affiliate of Christie's Great Estates.

...hold the chicken...

I was showing property the other day and had a few minutes to kill between appointments. I asked my buyer if he would like a cup of coffee. Yes, he replied. So I drove over to Sandy's Cafe at the corner of White at Virginia. I had been at the same place at about the same time the day before. The guy behind the counter who waited on me then was helping another customer. A new guy looks at me and asked me what I wanted.

I said "One small cafe con leche with two sugars and a decaf." He asks "Sugar?" and I said sugar in the con leche but not the decaf. He walks to the coffee machines and starts the laborious process of freshly brewing coffee just for me. He bangs, cleans, adds coffee, turns on the machine, grabs the machine and fiercely jerks it. He removes the small coffee brewer and pours the hot coffee into a small white Styrofoam cup. He added the milk and sugar then put on the top. He placed the cup in front of me. Beat. Then I asked where the decaf was. He said "We only have decaf for con leche decaf." I replied I did not want the decaf con leche, only the decaf. He removed the coffee can from the shelf over the coffee machines as if to prove to me that he did indeed have decaf coffee. But then he said they do not sell decaf coffee, only decaf con leche.

Since I ordered the exact same thing the day before with no trouble at all, I was perplexed by my inability to get the same thing a day later. But I did not lose my cool. Instead, I remembered Jack Nicholson in a similar situation many years ago. I was attending law school when I saw the movie Five Easy Pieces. I was the legal staff assistant to Judge Frank Jamison and Diane Primavera was his Division Clerk (secretary) at that time. Diane asked me "Gary, have you seen Five Easy Pieces?" I said "I've never seen one easy piece."

In the movie Five Easy Pieces Jack Nicholson's character (Dupea) is in a diner and wants to order plain wheat toast which is not on the menu but which is easily made. Dupea had an easy way of getting to win:

Dupea: I'd like a plain omelet, no potatoes, tomatoes instead, a cup of coffee, and wheat toast.

Waitress: No substitutions.

Dupea: What do you mean? You don't have any tomatoes?

Waitress: Only what's on the menu. You can have a number two - a plain omelette. It comes with cottage fries and rolls.

Dupea: Yeah, I know what it comes with. But it's not what I want.

Waitress: Well, I'll come back when you make up your mind.

Dupea: Wait a minute. I have made up my mind. I'd like a plain omelet, no potatoes on the plate, a cup of coffee, and a side order of wheat toast.

Waitress: I'm sorry, we don't have any side orders of toast...an English muffin or a coffee roll.

Dupea: What do you mean you don't make side orders of toast? You make sandwiches, don't you?

Waitress: Would you like to talk to the manager?

Dupea: ...You've got bread and a toaster of some kind?

Waitress: I don't make the rules.

Dupea: OK, I'll make it as easy for you as I can. I'd like an omelet, plain, and a chicken salad sandwich on wheat toast, no mayonnaise, no butter, no lettuce. And a cup of coffee.

Waitress: A number two, chicken sal san, hold the butter, the lettuce and the mayonnaise. And a cup of coffee. Anything else?

Dupea: Yeah. Now all you have to do is hold the chicken, bring me the toast, give me a check for the chicken salad sandwich, and you haven't broken any rules.

Waitress: You want me to hold the chicken, huh?

Dupea: I want you to hold it between your knees.

Waitress: Do you see that sign, sir? Yes, you'll all have to leave. I'm not taking any more of your smartness and sarcasm.

Dupea: You see this sign? [He sweeps all the water glasses and menus off the table]

The guy at Sandy's finally gave in and brewed a full cup of decaf with no con leche or sugar. I must have been there five to seven minutes. We barely made our next appointment on time. But we had a great laugh on the way. And I still haven't seen one easy piece. Nothing is easy.