2317 Fogarty Avenue, Key West - Bank Owned - Buying Opportunity

Just listed but not by me 2317 Fogarty Avenue, Key West. I selected the logo photo above because I consider this Bank Owned home a buying opportunity for one of my Dear Readers looking for an affordable home in Key West.  Too many local buyers have been priced out of our market. This home appears to be in pretty good shape and is basic move-in condition. This home was built in the mid-town area of Key West in 1958. This little subdivision was typical of many such subdivisions that sprang up across America after the GIs returned home after World War II. The post war housing was simple and affordable. There were big lots for the kids and dogs to play and the family to enjoy hamburgers on the bar-b-que.

I dug into my old shoebox and found the above black and white photo taken of 2311 Fogarty Avenue just as the subdivision was announced. Fogarty Avenue is located behind the two men in the photo.  The one story cinder block structure on the right side is the base of what will become the Fifth Street Baptist Church which takes up most of the south side of the 2300 block of Fogarty. The house behind the men still exists and it is a part of the church complex.

The above aerial photo shows 2317 Fogarty Avenue when photographed in 1999. I added an arrow to show this home which has 1111 square feet of interior living space and sits on a 50'X 111' (5500) sq ft lot. Nearly sixty years have elapsed since this house was built. Most of the homes in the area have been enlarged or remodeled to some extent. I will point out the changes made to this property.

The front exterior looks really nice. It is simple and not overdone. There is paved off street parking on both sides of the front. A new owner could easily remove one pad to expand the greenery in front.

The Monroe County Property Appraiser card shows many updates were added to this home in 1996.  The doors and windows have been replaced. (There are Miami Dade approved shutters for all windows and French doors.) The kitchen appears more recent than 1996 as do the stainless steel appliances. The central air was not working when I photographed the house but window AC units were working. The floor tiles in the kitchen and family room appeared to be more recent than 1996 as well. I added notations to the living room photo to point out the crown molding and recessed lighting which are repeated in other rooms as well.

This house looked to have been lovingly maintained. The inside was clean. I saw a couple of minor things that need repair but the house as a whole is in near move-in condition. You'll need to buy a mirror and shower head for the bathroom, but that's a heck of a lot cheaper than having to redo the thing.

The front bedroom has an en-suite bath. The rear bedroom has French doors which open out to the wrap-around rear deck. The room sizes are nearly identical. The back bedroom does not have a private bath. The hall bath appears to have been updated and expanded as it looks nothing like a mid-century bath.

I was totally taken by the back yard and sideyards. This home sits on a really big lot. There is room for a pool, but more important there is room for the family to have nice private outdoor living area. The canvas awnings need replaced, but the shaded deck area will make a great place to watch the kids or grandchildren play and thrive. The side yards have a lot of space for storage for bikes and adult toys. This is a nice house. Don't let it slip by. It will go quickly. CLICK HERE to view more photos I took.

CLICK HERE to view the Key West MLS datasheet on 2317 Fogarty Avenue which is offered at $449,900. Then please call me, Gary Thomas, 305-766-2642, to set up a private showing. I am a buyers agent and a full time Realtor at Preferred Properties Key West. Let me help you find your home in Paradise.

702 Catherine Street, Key West - Potential Vacation Rental

Just Listed. but not by me, 702 Catherine Street, located in Old Town Key West and about two blocks away from upper Duval Street where the cool people hang out. There several near by places like Frenchcies, Bab Boy Burrito, and the infamous LaTeDa where you can eat, drink, or be entertained, and walk home within a few minutes.  South Beach is nearby as well. Your guests can walk to a fun beach and not get lost nor get blisters on their feet for having to walk a couple of miles. South Beach is only three blocks away. At the same time you can just as easily walk out to the back porch and watch the kids have fun in the pool. This 1450 sq ft two bedroom, two and one-half bath has it all. And its priced to sell at just $959,000.

The listing agent describes 702Ctherine Street this way: "This pristine home sits in a wonderful Old Town compound consisting of 9 beautifully maintained homes clustered around a 45' shared pool with lush landscaping. The prime, quiet location is only 1 1/2 blocks off of Upper Duval St. The interior has gorgeous white-oak wood floors, a spacious floor plan, high ceilings, and abundant natural light in every room. Experience indoor/outdoor living at its best with french doors leading from the living room to a sun deck overlooking the swimming pool, a covered & screened living/dining area outside of the kitchen, a front porch and a second floor balcony. The kitchen has rich granite counter tops and stainless steel appliances and is open to the dining area. Living area is spacious and bright with a half bath located near the stairs. Full-size laundry is inside of the house. The two upstairs bedrooms each have two full bathrooms ensuite with ochre travertine floors and matching tile & glass shower enclosures--one of which has a bathtub. This solid home has hardie board siding, a metal roof and hurricane shutters. Outdoor areas have premium composite decking. There is off-street parking for one car. HOA fee is $192 per month paid quarterly and covers pool maintenance and landscaping."  This is s town home which means the homeowner is responsible for all building maintenance and building insurances. The HOA fees are modest and cover only pool and common area maintenance. The good thing is this home appears to be in superior condition.  It looks great in all areas - indoors and outdoors. That means a new homeowner will not need to start fixing things once title has passed. This home looks like it has been treated like a baby - a pampered baby.

The covered porch at the main floor rear provides abundant private outdoor dining and rest areas. Even though the area looks out to the communal pool, you cannot see inside from the outside French doors at the back of the living area open onto the rear porch that leads down to the pool area. There is also a small landing area where you could you chairs to have private a private sitting area. But it is the semi-enclosed porch where your family and friends will likely spend most of their time. 

The second floor hallway provides nice separattion between the two bedroom wings. There is even access to a small second floor balcony overlooking Catherine Street. The real wood floors shine throughout this house. The walls currently display bold art work everywhere. A new owner could just as easily minize the art work and still make the walls look great as they provide ample contrast to the beautiful wood floors.

Both bedrooms have en-suite baths and adequate closets. I always tell potential buyers that they won't need as many clothes in Key West as they need up north, but they still need clothes and places to store them. This home had both room to live and adquequate storage spaces on both living levels.

CLICK HERE to view the Key West MLS datesheet and more photos. Then please call me, Gary Thomas, 305-766-2642, to set up a private showing. A new owner can legally rent this home as monthly vacation rental. It's prime location makes it a sure winner if that is your choice. However, not all owners rent their homes here. This home is affordably priced such that a new owner may not need to find rental income to help pay the cost of ownership. I am a buyers agent and a full time Realtor at Preferred Properties Key West.

Old Town Key West Price Reductions - Time to Buy

I typically tell buyers and sellers that the Key West "selling season" runs from Christmas Week and ends around May first or thereabouts. This is the time of the year when most sellers place their homes on the market thinking that more buyers will be here during those months. The stable base of full time residents in Key West has been about 25,000 for decades. Locals don't leave on May first.  They have housing needs all year long. And since Key West has become a full time destination resort, visitors come here all year long which has driven the demand for more hotel rooms, restaurant seats, and bike rentals. This is turn drives the demand for workers to make beds, prepare and serve food, and provide other tourist related services. The Key West economy is robust. Prices are high and moving higher. But the reality also is there are several houses which have been listed for sale sale that have been on the market for several months which have not sold.

I've been representing buyers of houses in Key West for twenty years. I have learned that most are buyers of houses in Key West are "pretty smart cookies".  After all most are looking to spend over $500,000 to buy a place here (any place here costs about that much and probably a lot more). The come prepared to buy a place with knowledge of our market and our past sales. They know houses that have been on the market for a prolonged period of time are either over-priced or that there is something wrong with the house or the location. Houses that don't pass the smell test often ignored by potential buyers and equally often by real estate agents. 

1216 Varela Street is a cute 2/2 single family home with a private pool located in Old Town Key West. The listing Realtor describes the home this way: "Perfect property in an excellent location for either a working couple living full time in Key West or as a “pied-a-terre” for owners wanting a problem free home to use seasonally as a “lock n’ leave”. Large master with two closets and a balcony overlooking the private pool. Wonderful kitchen with granite counters, wine cooler and a dual fuel range. X flood zone and shutters all around making insurance affordable. All reasonable offers encouraged.  Originally priced at $799,000 now reduced to $760,000. CLICK HERE for more info.

923 Angela Street has appeared in my blog several times over the past ten years. We have a limited supply of houses in Key West. We tend to sell and re-sell the same inventory over and over again. This time this house is much different than before. This time this house has been totally renovated and had a pool added. There are two factors that challenge most potential buyers who consider this house - lack of an off street parking space and location across the street from the Key West cemetery.  There is usually on street parking within 75 feet or less. The cemetery is what it is. The neighbors don't party at night. CLICK HERE for more information on this home which is now offered at $1,128,000.

The asking price on 629 Elizabeth Street was recently reduced by $100,000 to $1,599,000. This home is basically all new even though described as a renovation. Everything is perfect on this 3/3 located at the top of Solares Hill, the highest point on the island of Key West. CLICK HERE for more info.

The listing Realtor describes 816 Ashe Street as "This historic gem has been in the same family since being built in 1923. Featuring Dade County Pine, heart pine floors, first floor master bedroom, & attached laundry room/workshop. Two spacious front porches provide the perfect setting to relax and enjoy the quiet pace of Old Town Key West life. Off street parking & flood zone X. A perfect historic renovation project". This is a property for a buyer who wants to be creative and do a nice renovation to a great old house.  CLICK HERE to view MLS info on his home now offered at $795,000.

514 Elizabeth Street is another house that has appeared in my blog several times over the years. This is the first house I sold when I got my real estate license in 1996. The house had been updated by the family who had owned the house for generations. My buyers put in the pool, deck, and a small out building They have used the home and also rented it as a monthly vacation rental. Reduced asking price is now reduced to $1,350,000. CLICK HERE for more info.

1106 Grinnell Street is livable as is, but it offers a new owner all kinds of possibilities as a renovation project. Other homes in the area continue to become a part of the surge in renovations in the south of Truman area of Old Town. CLICK HERE to view MLS on this home now reduced to $490,000.

The listing Realtor describes 812 Fleming Street #5 this way: "Price Reduced!! Superb location! Here is your chance to own a top floor unit at the Seafoam Condominium on an iconic street in Old Town. Dade County pine covers the walls and floors in this 613 sq ft, 1 bedroom, 1 bath unit. Recent updates includes new, stainless appliances, fresh paint throughout, all new fixtures, and more. The 200 sq ft balcony overlooking Fleming St." Now offered at $550,000. CLICK HERE for info. 

1509 Pine Street has everything that second home buyers want accept two things - it is newer construction and it is not located in Old Town proper. The home is one of eight built in 2008, each of which has a private pool and covered off street parking. This home has three bedrooms and 3.5 baths. And it is gorgeous. Now offered at reduced price of $1,299,000. CLICK HERE to view MLS. 

There is nothing odorous about any of these homes. They are seasoned and ready to be purchased. There are over 100 single family, condominiums, and town homes under contract and pending closing in Key West. Some lucky buyers still have really nice homes like these that are available for purchase. Please contact me, Gary Thomas, 305-766-2642, to set up private showings. I am a buyers agent and a full time Realtor at Preferred Properties Key West.