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Thursday, March 10, 2011

Key West Waterfront at Affordable Price


This Gulfview Drive townhome in Roosevelt Annex with a private pool and killer waterfront views is offered for sale at an incredibly affordable price of just $479,000. The best thing is it not a short sale and it is not bank owned. We don't need to deal with unscrupulous ninnies in far away places to make this deal happen.


The listing Realtor describe this treasure like this:
"Beautiful open water Gulf views in an immaculate gated community.Out door deck area w/private pool and fountains. Two upstairs balconies. Open the doors for wonderful cross breezes. Hurricane shutters for all windows. Carport with storage. Due to windstorm credits total annual insurance costs are $3,370."

Roosevelt Annex was the final Key West development done by the Singh Company that developed the immensely successful Truman Annex and equally popular Key West Golf Club development. It is the waterfront setting for each single family home or townhome that makes this property the crown jewel of the three Singh created in Key West. Yes, Key West is an island surrounded by water, but very few people who live on our little island can enjoy the soothing waterfront views available here.

Locals will remember all of the intense political battles that lead to the creation of this development. An outside might look at this property without any appreciation of the fury that went into the creation of something so serene today. Enough of history: more about today and tomorrow.

This Gulfview Drive townhome is located at the far end of the lazy drive that ends just about 100 feet east of this property. CLICK HERE for a Google Map aerial view. An elaborate electronic iron gate secures entrance to the property. Then a beautiful landscaped drive takes residents to their homes. Like any Singh property, the landscaping is lush. The covered off street parking is located across the street from this property.

This 1320 sq ft property has one bedroom(and bath) downstairs opposite the kitchen. The dining and living areas look out onto the water. Upstairs you will find a good sized second bedroom(with bath) in front and a large master bedroom with ensuite bath at the rear. Both bedrooms have private porches but it is the master suite that has that incredible waterfront view.

If you walk past the private pool and through the rear white picket fence you will find a path past the other equally lovely properties that share the remarkable waterfront view. Imagine walking your dog down the path each morning and night looking out to a sight only a few lucky souls will ever get to enjoy. The best part about this Key West property is that it can be yours for $479,000. So do not wait. It will be gone, and then you will regret taking too long to make up your mind.

If you would like more information on this property or any other property, please contact me, Gary Thomas, 305-766-2642 or by email at kw1101v@aol.com. I am a buyer's agent and a full time Realtor at Preferred Properties Coastal Realty, Inc. in Key West.

Wednesday, March 9, 2011

808 South Street - Southpark Condos - Key West

Just listed, but not by me, 808 South Street Unit No. 204 in the Southpark Condos in Key West. The listing agent describes this second floor unit this way:
"Sunny and bright one bedroom condo located just blocks from the Southermost point of Historic Old Town Key West. This second floor unit offers wood floors, large kitchen, central air conditioning and a private balcony overlooking the large heated swimming pool."

While I have not been inside this unit yet, I can report that the Southpark units are each unique in that they have been individually updated over the years but they are also similar in that they have the same basic floor plans depending on floor level. The downstairs units have a large rear deck with quick access to the rear yard and pool. The upstairs unit have covered front balcony and a rear deck off the master bedroom for private sunning.


808 South Street Unit # 204 at 650 sq ft is almost equal in size to many of the two bedroom units at Shipyard. I think this place has a lot to offer someone who respects mid-century architecture and construction. This development has a feeling of solid construction that has weathered the test of time. Thus unit is offered at $324,000. Compare that to units at Shipyard. CLICK HERE to see the mls datasheet.

There are only 16 units at Southpark condos and each has a designated off-street parking space. The four building complex has four units in each building with two units on the ground floor and two on the second floor. The front garden is always superbly maintained. And the rear gardens and inviting pool are just too beautiful.

I sold a unit here last year and my buyers love their vacation getaway property. They love the location and their neighbors. They absolutely love the kewl pool and the convenience of being able to walk to Old Town or the beach. It has all the amenities they wanted, a great price, and a very good location.

If you are looking to purchase a property in Key West, please consider using me as your agent. Call me, Gary Thomas, 305-766-2642, or send me an e-mail at kw1101v@aol.com. I am a full time Realtor at Preferred Properties Coastal Realty, Inc. Our office is the Lower Florida Keys exclusive affiliate of Christie's Great Estates.


Tuesday, March 8, 2011

Key West with One Regret



Twenty Six years ago this month I sat foot on the Island of Key West for the very first time. I had read about Key West a few years earlier in a magazine called "After Dark". Things were different back then. We did not have 24 hour per day news channels and travel channels to tell us about the world. We had to read magazines and books. The photos above are from the Jnuary 1978 issue I read. (That's Randy from The Village People in the top photo doing a Key West photo shoot for the article.) Those pics attracted my attention, but it was the story inside about Key West that made me decide that I must see this place for myself. It took me too long to make the trip, but the wait was worth it.

I drove down from Miami and thought, if I didn't like Key West, I could return to Miami or Ft. Lauderdale for the second week of my vacation. When I got to Key West, I did what any red blooded American guy would do. I didn't read the map. I guessed which direction to take. I drove south along the ocean side and ended up in no man's land somewhere. I was really upset. I thought I had made a horrible mistake coming here. I kept driving west and eventually found Duval (this is an island after all). Then I found the cross street where my guest house was located. I checked in and started to decompress. Within hours there was no stress at all. Like every other first time tourist I walked up and down Duval Street and some of the side streets taking in the still "beat" feeling that existed at that time. The town had not been gentrified the way it is now. Some places like Jerry Herman's two sisters houses at the corners of Fleming and Elizabeth were redone. But so many more houses looked like they were ready to fall down. The sidewalks were cracked and falling apart. When you walked down the sidewalks at night Palmetto bugs (dozens of them) would litter the sidewalks. The sidewalks are fixed now and the bugs are gone. Thank God on both accounts.

Each day brought a new discovery. I met new friends at the guest house. Together we found great restaurants to enjoy and together created wonderful memories of one of my best vacations ever. I met some locals and got invited to a party at a really swank Casa Marina home. I attended Tea Dance at La Te Da. (They held Tea Dance on both Wednesday and Sunday afternoons. The town was hopping!) I made the nightly trek to the COPA and the other bars that existed back then. There was a place called Michael's on Duval Street. The Old Plantation and another bar called Papillion were popular as well, but now they are now gone. The Monster had burned down a year or so before. So I only learned of it by legend. I made the pilgrimage to Atlantic Shores and was amazed at the mass of naked people, many college kids and locals, hanging out listening to loud disco music in the daytime.

I'm not a party person, but I started thinking "I could live here." Then it became "I want to live here." It wasn't about the bars or the booze or the sun. It wasn't about the beautiful old houses or tall palm trees or the ocean. It was about the way that the People that live in Key West relate to where they live and how they relate to each other. I found Paradise.

It took me nine years of screwing around making goof-ball offers on real estate before I bought my first property. I was always trying to get the best deal. That got me no deal for nine years. Then I got lucky. Real lucky. I bought a foreclosed guest house at an SBA (Small Business Administration) auction in 1993. I aggressively outbid the others in attendance. I moved to Key West the week before Christmas. So many great properties had slipped through my hands. I wasted nine years in the cold winter snows. Nevermore.

Look at the photo just below. My Realtor called me about it when in got listed in 1987 for the asking price of $280,000. She asked if I remembered the property. Of course I did. It was the grimy Q Rooms at 600 Fleming Street. I told her drug addicts lived there and that I wanted no part of it. She implored me to reconsider. I would have none of it. I knew better! (What a pompous idiot I was.)

The Q Rooms in 1987

Some buyers much smarter than I snapped the Q Rooms up in a flash. They renovated the place on the inside and spiffed it up on the outside. They added a pool and even added a restaurant on the corner. They created The Marquesa Hotel. Later they acquired two additional parcels of ground and did some additional renovation and more new construction. They turned $280,000 into a landmark which is also a goldmine.

The Marquesa Hotel - March 2011

I have a lot of stories about other places I missed buying. I drive past many of them on a near daily basis. I sometimes muse what might have been. It's the same thing I sometimes do when thinking of relationships that could have happened or could have been avoided if only....

A reader who became a buyer who is now a friend sent me a newspaper article about Key West that appeared in The Guardian earlier this year. CLICK HERE to read Edmund White's account of his ongoing relationship with Key West. While White does not cite the address of where he lived in 1979, I am pretty sure it is 1327 White Street (our current listing) since there are only three houses located across from the church he wrote about and only 1327 is as large as the house he described. White's nostalgia for what was is understandable. I miss the same things he misses. Much of Key West has become too gentrified. Too many people want to turn simple old houses into show places. Too many nasty tee shirt shops on Duval spoil our little town. Too many scooters and electric cars create too much traffic. Cruise ships inundate lower Duval Street with too many day trippers. Thank God for hurricanes and hot September days when town goes back to normal.

I found and saved some photos online of Old Town Key West that were taken by others around 1978. Here are a few.

300 block of William Street - Key West - 1978


300 block of William Street - 1978 - Key West

This Key West house now has a big fence in front but not when photographed in 1978

I lament the loss of what once was Key West including the fact that cats and dogs can no longer lay in the middle of Fleming Street to take a nap. I will always remember my Realtor picking me up at the Cypress House to take me to the airport after a buying trip that crapped out. We were going down the street and she had to stop her car to wait for a dog to wake up and move out of the way.

Nothing stays the way it was forever. Times and people change. The old houses of Key West look pretty much the same today as they did a hundred years ago except now they get painted more regularly and have lush gardens and pools. The college crowd and tourists still flock to Key West in March to greet Spring with a Key West tan and enough experiences to make them wish they could live in a place like Key West forever.

If you are looking to buy a place in Key West, please consider working with me, Gary Thomas. I am a buyer's agent and a full time Realtor at Preferred Properties Coastal Realty, Inc. in Key West, Florida. The only regret about my move to Key West is that it took me nine years to do it.

Saturday, March 5, 2011

1311 Newton Street - The Meadows Area - Key West

1311 Newton Street - The Meadows Area - Key West

The absolutely charming two bed and two bath cottage at 1311 Newton Street in the Meadows Area of Key West is something buyers in the $500,000 range ought to consider. And consider it before it is too late. I showed this quaint place a couple of weeks ago and went ga-ga over how sweet it is. The listing Realtor describes this place this way:
"On a quiet one way street in the coveted Meadows neighborhood sits this quintessential Key West cottage featuring two bedrooms and two baths ensuite. Bright, vaulted living room, kitchen and dining are highlighted by carved balustrades and beautiful custom stained glass. An 84 sf loft situated in the eaves is perfect for storage. The living room and updated kitchen opens up through French doors to the deck, heated pool, covered patio and bar offering wonderful indoor/outdoor living. Dade County pine, transom windows and a classic sitting porch are just a few of the special features this cozy cottage offers. Completely fenced with optional space to park your conch cruiser."
The house makes very efficient use of the 784 sq ft of living space. The formal entry is at the rear opposite the pool and covered outside living area.
The living room and kitchen share a vaulted ceiling. French doors with side panels enlarge the view from the living area out to the pool. Overheard windows let more light in and the space comes alive. The kitchen end of the room is topped by a loft area accessed by a ship's ladder in the hallway. The loft is fenced off by a railing of cat cutouts similar to porches on old Key West houses. The cat whimsy is heightened by the levity of a mouse at the far end of the panel.

Little touches of whimsy and big dashes of style make this Key West cottage a property worthy of serious consideration. 1311 Newton Street is offered for sale at $530,000. CLICK HERE to view the Key West mls database and more photos of this charmer.

1311 Newton Street is located two blocks east of White on Newton Street. CLICK MAP to see a Google aerial view of the area. I doubt you will see many Conch Trains or Trolleys on this block. The streets are a bit more narrow than other areas in Old Town. Most of the houses in this area have been renovated, but not all. There are still a couple of fixers on this block but there are many more that have been redone. The Meadows Area is just as lovely as Old Town and probably a bit quieter. Prices are definitely less expensive, but the weather and friendly neighborhoods are the same.

If you would like to see this house or any other property in Key West, please contact me, Gary Thomas, 305-766-2642. I am a buyer's agent and a full time Realtor at Preferred Properties Coastal Realty, Inc. in Key West, Florida.

Friday, March 4, 2011

623 Grinnell Street - Old Town Classic Renovation - Key West


623 Grinnell Street Key West, Florida March 2011

The fresh new listing at 623 Grinnell Street will likely go under contract within a matter of days because the place just oozes old Key West charm. The house has just undergone a tasteful renovation and a new kitchen, read deck, and pool added. But the bones of the old house and the classic lines are in tact. A fresh new paint job and the old girl looks as beautiful as ever.


The listing Realtor describes 623 Grinnell this way:
"Beautifully renovated and restored historic three bedroom home in one of the most desirable neighborhoods of Old Town Key West. Authentic and sensitive restoration including Dade County Pine walls, high ceilings and wood floors. Convenient first floor master bedroom with ensuite bath. Gorgeous chef's kitchen included in a new saw-tooth addition built to today's standards with an historic sensitivity. Off street parking for 2 vehicles in tandem. Brand new pool with water feature, nicely landscaped back yard, deck and great front porch make this a Gorgeous Old Town Beauty."
I remember showing this house to a couple from Rhode Island back around 1998. The house was old, but not creepy old. It had character and room for improvement. The house changed ownership a couple of times over the years. Now it is all freshly redone and awaits new owners.


The front porch looks out onto Grinnell Street. Two huge orchid trees are located a couple of doors to the north. Flowers were falling to the street yesterday. A mature Frangipani tree is located at the front of the house next door where it is getting ready to burst flowers soon. Very soon. The block has beautiful old houses all around. Two big Eyebrow houses are located across the street. The house at 999999 Grinnell is always decorated at Christmas and normally wins a prize for being so damned Key West. The Key West cemetery is located about 100 feet to the south. Don't get spooked. The denizens of the deep don't move about, much. And because Grinnell ends at the cemetery, traffic on this block is most quiet. All day. No Conch Trains or Trolley Cars. So if you sit on that lovely front porch you won't be seeing a whole lot of wacko tourists. Five Brothers Grocery is just a hop-skip-and-a-jump away at the corner of Southard. You can go there every morning for your con leche and catch up with all the latest Key West gossip. Everybody famous goes there. You foodies know that Michael's is a two minute walk and Mangia Mangia takes the same time to reach if you got a craving for pasta. The Historic Key West Seaport is about a five minute walk to the north. Duval Street is a five or six minute stroll. It takes longer if you stop to smell the flowering trees.

Inside the Dade County Pine walls and ceilings are set off by the bright white crisp trim. The house has three bedrooms, one of which is located downstairs right front. The living room is to the left which opens onto the dining area which then flows into the new kitchen. The kitchen opens onto the rear deck and pool. Upstairs there are two decent sized bedrooms that share a Jack & Jill bathroom. Outside a white picket fence and off street parking complete this little charmer that is offered at $995,000.

CLICK HERE to checkout the Key West mls database and to view more listing photos. If you want to see this charmer, please call me, Gary Thomas, 305-766-2642. It won't last long.


Thursday, March 3, 2011

920 Pohalski Lane - Short Sale - Key West


920 Pohalski Lane in 1965

920 Pohalski Lane with new addition as seen in 2011

Side view of 920 Pohalski Lane

Attention Bargain Hunters: The award winning Key West cottage at 920 Pohalski Lane has just been re-listed as a short sale at the asking price of $349,000 or $367 per sq ft. This is a bargain, Dear Readers. The Historic Florida Keys Foundation awarded this home its Award for Excellence. The listing Realtor describes the cottage thus:
"Beautiful historic home with unique floor plan. French doors open from the living room and kitchen to a wonderful private deck with spa/jacuzzi. Upstairs master suite. Home is fully fenced for privacy. Porch in the front and off street parking. This home received an Award for Excellence for the highest ideals and concepts of historic preservation by The Historic Florida Keys Foundation. Steps away from all that living in Key West has to offer."
It's worth looking at!

This is a cottage home with 2 bedrooms, 2 bathrooms, 950 sq ft of living space that sits on a 35' x 55' (1925 sq ft) lot. CLICK MAP for a Google aerial view and then click for a street view. The aerial will show you that this place is located near Truman Avenue. The street view will show you it is opposite the Truman & White Chevron Station. So that will probably eliminate 95% of people looking for a nice and affordable Key West cottage. My advice: get over it. There are many really nice small cottages on this little one-way lane that runs north just off Truman Ave. to Olivia Street. Most of the other houses or cottages on this block are darling little places that would cost a lot more if they were located on one of the swank lanes such as Curry Lane or Carey Lane. They aren't and as a result, they are priced much less when it is time to sell. Superior locations cost more money. Cute and convenient can cost less.


I wrote about the charming little place across the lane at 909 Pohalski when it was listed in December . It went under contract in a couple of days of being listed. That's one smart buyer that grabbed that little gem.

Another Key West blogger who pens his Key West Diary wrote about Pohalski Lane. CLICK HERE to read his take on this little lane.

As for me, I think being able to walk over to the Citgo gas station to buy the best friend chicken in Key West (seriously!), or to walk a bit further to Sandy's to get a con leche, or maybe walk up Truman a couple of blocks to workout at the Old Town Gym, or walk 20 feet to do yoga at the Coffee Mill (located next door), is the essence of living in Key West. I'll bet people from New York have their pet places that they measure by how close the places they use constantly are located from where they live. Key West isn't big in the first place. But having places you really use weekly, if not daily, that are located with a block or two of where you live makes living in a specific neighborhood more enjoyable. CLICK HERE to see the Key West mls datasheet on this cottage.

If you would like to see 920 Pohalski Lane, please contact me, Gary Thomas, 305-766-2642 or send me an email at kw1101v@aol.com. I am a buyer's agent and a full time Realtor at Preferred Properties Coastal Realty, Inc. in Key West. If you snooze on this short sale, you lose.

Wednesday, March 2, 2011

405 William Street - Old Town - Key West

405 William Street as it appeared in 1965

405 William Street - March 2011

The two story house located at 405 William Street is located on one of the very best blocks in Old Town Key West. Some of the most historic and architecturally significant homes are located on this block. And this home is one for the books. The listing Realtor (that's me!) says this about this home:
"Classic Key West bungalow with sawtooth additions in one of Old Town's best blocks. Original portion built before 1889. Currently configured as a renovated two-family with two 2-bedroom legal apartments, has HARC approved plans for conversion back to a single-family showplace. Well-maintained with off-street parking and a large lot -- plenty of room for a pool. Great opportunity in the heart of Old Town."
405 William Street is a two-story renovated duplex. That will cause half the readers to stop reading. But wait! There is more. Before it was made into a duplex it was an awesome single family home with truly unique and grand features that would lend itself to being taken back to single family. Or, the home would make a great second home with legal year round guaranteed rental income from the nicely appointed second floor two bedroom apartment.


The main living level is totally unique to Key West and any other house I have ever seen. You enter through a formal entry hall that leads to either of the two bedrooms or two baths or to the living room, dining area and kitchen beyond. The master bedroom has larger than normal crown molding that set off the high ceilings and formality of the room. Two sets of French doors provide passage to the front porch to watch the denizens of Key West pass by. There is a large master closet and en-suite bath. The second bedroom is also large so you do not get that squeezed in feeling so typical in many older Old Town homes. Another set of French doors opens to the front porch as well. But it is the living room with its arched ceiling that will make you stop and look in awe. The petite French doors in the dining area lead to the exterior porch that overlooks the bricked courtyard and spa area. The recently updated kitchen is at the far end of the house in a saw tooth addition so familiar to Key Westers. The vaulted ceiling and designer touches yank the kitchen right into the 21st Century.

If you are seriously considering buying a large home in Old Town, you really must look at this property. It is a large 1982 sq ft home on a very large 4642 sq ft lot. The existing rooms are good sized and efficiently laid out. If you were to convert the property back into a single family home, the renovation would eat up part of the existing space configuration, but the location of the house and the size of the house could justify such a renovation. There is room for a substantial swimming pool in the lightly landscaped rear and fenced yard. I like to tell prospective buyers that you cannot "grow" property. You normally have to try to buy land from a neighbor. That can be tricky and expensive. But 405 William Street has this huge unused space behind the kitchen waiting to have a pool added. And there is off street parking for two cars to boot. Finally, the roof is new and ready for several more decades of Key West sun. CLICK HERE to view the Key West mls datasheet and to view more listing photos of this great property offered at $995,000.

Off street parking for two cars

This is one of the sweetest homes in Key West. The location is about a two minute walk to the historic Key West Seaport and perhaps five minutes to Duval Street. Please call me, Gary Thomas, 305-766-2642 to schedule an appointment to see this property. I am a full time Realtor at Preferred Properties Coastal Realty, Inc. in Key West.

Tuesday, March 1, 2011

Key West: Optimism or Despair?

With optimism, you look upon the sunny side of things. People say, 'Studs, you're an optimist.' I never said I was an optimist. I have hope because what's the alternative to hope? Despair? If you have despair, you might as well put your head in the oven.
Studs Terkel
I'm not saying the awful market is over, yet. But there have got to be a lot of potential real estate buyers that hoped the market in Key West would drop further who are feeling the pangs of not-so-quiet desperation as the market shot up in the past two months. I've been telling my buyers that the market is 'on fire'. The front page of Sunday's Key West Citizen quoted other Realtors as saying the market is "on fire" or "hot, hot, hot". CLICK HERE to read the article.

I did a quick search of the Key West mls records this morning. It revealed 21 single family homes sold in February 2011. The least expensive sold at $305,000 and the highest price paid was for a lovely Key Haven home that sold for $1,600,000. In fact 6 houses sold for $1,000,000 or higher in February. Only two of the single family house sales were short sales and only one was a bank owned property. And 6 of the sales were on the market for 30 days or less. And two of that number were listed Christmas week and sold immediately after being listed. (I sent emails to potential buyers who pondered the merits of buying that particular house and they lost out big time. If you snooze, you lose.)

Condos and town homes sold at an equally brisk pace in February 2011. A total of 13 units sold priced between $163,000 to $825,000. (The latter sale was for a 2 bedroom bank owned beauty at The Meadows of Key West. Our office is listing agent. We still have two 3 bedroom units left.) Three of the February sales were short sales and only one bank owned property.

I also did a quick check of Monroe County Clerk of Court's records to see the number of new foreclosure filings (lis pendens) and bank owned properties that occurred in the last 30 days. There were just 7 new bank owned houses in Key West. For some reason two of the nicer houses have not made it to the mls, yet.

The search showed there have only been 11 new foreclosures (lis pendens filed) for properties in the Key West area (to Shark Key). Three of the foreclosures were at the Key West Golf Course which has really recovered over the past couple of years. The rest of Monroe County isn't quite so fortunate. New foreclosures are still being filed. There are lots of places for sale up the Keys. The problem for buyers is that places up the Keys is not the same as being in Key West.

Buyers are really smart shoppers. They have access to all kinds of information via the Internet. Certain websites offer computer generated statistics that are supposed to predict the value of a particular house based on the Monroe County Appraiser's tax evaluation or comparable recent sales, or both. If you watched Jeopardy two weeks ago you got to see how smart Watson the computer was versus real live geniuses. Watson kicked ass. But Watson made blunders because human knowledge can trump data. Understanding data is one thing. Understanding real life situations is another. I'm not match for Watson, but I bet Watson cannot understand why people want to buy a second home in Key West versus buying a cheaper home up the Keys or a really cheap deal in Miami. And I don't think Trulia or any of the other sites can do it either. Buyers who want a deal need to work with a Realtor, not a computer.

If you are looking to buy a special place in Key West and want to work with a live human being who is also a buyer's agent and full time Realtor, please consider choosing me at your guy. Call me, Gary Thomas, 305-766-2642, at Preferred Properties Coastal Realty, Inc. in sunny Key West. Let me help you find your place in Paradise. I am the Realtor to the Dreamers.

Disclaimer

The information on this site is for discussion purposes only. Under no circumstances does this information constitute a recommendation to buy or sell securities, assets, real estate, or otherwise. Information has not been verified, is not guaranteed, and is subject to change.
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