The sky may be falling. The stock market may be plunging. The real estate market may be unstable. But there will always be a Key West.
The Meadows of Key West is located in the 1500 blocks of Petronia and Pine Streets between Eisenhower Drive to the east and Pearl Street on the west. There are eight luxurious new single family residences woven seamlessly into the fabric of the historic neighborhood known by the same name. CLICK HERE to view MAP.
The homes have about 2,000 square feet of living space with stunning interiors by Pascal Delisse. There are two and three bedroom models to choose from. Each home features hardwood and travertine floors, a luxurious master suite; gourmet kitchens with granite counters and gas ranges. Each home has a private pool, spa, patio, main level and second floor front porches, and a covered carport. Scott Montgomery designed the indigenous landscapes. Each new home looks like it has been a part of the area for many a year because everything blends together with the other homes in the area.
CLICK HERE to view the information an photos of the house at 1509 Pine Street listed at $999,000--that is just $629 per sq ft for this 1629 sq ft, 3 bedroom 4 bath home. There are only four of the three bedroom homes available.
There are four two bedroom homes that sit on the corners of both blocks. Each two bedroom home has a turret which is a focal point in the grand kitchen on the first level and a cozy nook in the second floor master suite. There are vaulted ceilings, grand spaces, huge closets, elegant baths. The two bedroom homes are simply "OVER THE TOP!". The second bedroom is far removed from the master suite so the owner will have total privacy. The second bedroom is equal to the master suite in just about any other Key West residence. It is just that nice.
CLICK HERE to see more information and photos of the two bedroom home located at 1502 Petronia Street (corner of Pearl Street). This 1932 sq ft home is priced at $1,050,000 or $549 per sq ft.
These eight homes belong to a community association which is responsible for the maintains the common rear drive, fencing, exterior home maintenance, swimming pool, and all landscaping. The Meadows offers the best of all worlds: the privacy and spaciousness of a single family home within the managed structure of condominium ownership.
If you doubt my high regard on the price, location, and amenities offered, please do your own personal search of the Key West mls. CLICK HERE and set your search parameters between $950,000 to $1,075,000 and see what you come up with. The Meadows of Key West were originally priced between $1,695,00 t0 $1,999,000. The new lower asking price is a real deal.
CLICK HERE to view a series of exterior and interior photos of the properties.
If you would like to see these properties, please call me Gary Thomas, 305-766-2642, and let me help you take a look at a real deal. This is a buyer's opportunity.
11 comments:
The Captain says:
It matters not what these units were "originally priced" at, there is no deal to be had at these current prices in this market. Sure, nice finishes, but, with a $1,200 per month maintenance fee, I'll pass. Sorry Gary I'm definitely not doubting your "credulity" (defined as: readiness or willingness to believe especially on slight or uncertain evidence).
Captain out.
I agree with The Captain. These homes are not going to sell in this market as they are priced for 2005. Who are they kidding? No one. Key West is still perceived as an overpriced town that used to be cool (before the cool gay guys moved to Ft. L.)
Over and out.
I definitely know that the bubble has burst, in all places except the truly economically viable markets, and that Key West conch-types have yet to wake up to reality that vacation/2nd home markets are first to go and last to recover from in economically tough times as our country is currently experiencing. Sellers who continue to place homes on the market at the price points they currently are "polyanna-ish" in their thinking and either do not *need* to sell or are simply not eager to sell, because they will not be selling for awhile (I know, I am an economist by trade, and the future prospective housing market is years away from any kind of recovery. Tight credit markets, consumer fear, economic uncertainty, job loss, financial system instability.) We are steps away from a 1930s era predicament...which *many* people are just beginning to now realize. That is, all except Key West sellers.
I'm asking readers to put things in "context". I asked readers who questioned the price of this particular property (as opposed to some place else)to compare it to other properties in the same price range. I even created a link so that you could do just that.
But to make it easier, http://keywestmls.rapmls.com/scripts/mgrqispi.dll?APPNAME=Keywest&PRGNAME=MLSLogin&ARGUMENT=SUed8fpE401KCQ9IfGGLGYNk4vgJlAQ85plCpqqBWT8%3D&KeyRid=1&Include_Search_Criteria=" to see all Old Town properties in the same price range as THE MEADOWS. Compare the price, location, amenities.
THE MEADOWS new price structure ought to scare the heck out of other sellers, especially those asking higher prices.
If I were the listing agent on a lot of the over-priced houses in Key West, I would take my client over to see THE MEADOWS.
I showed THE MEADOWS late yesterday to a customer who flew down from the cold north based on my recommendation. We were standing on the second floor balcony on one of the Petronia houses at sunset looking to the west. I told him "This is what a million dollar view looks like!"
And? Did he buy???????
Flipper, my client did make an all cash offer on a similarly priced property. That's all I can say.
Glad to hear that Gary!
There are no million dollar views in the Meadows. Only a good water view would fetch that in the Keys and the Meadows just doesn't have that. No, sorry, not buying it. I have lived in Key West all my life and nowhere in the Meadows is a view a million dollar view.
O ye, of little faith.
Not little faith Gary just plain fact. Oh and did the all cash offer from your client go through? Or not?
We're still working on it. And I'm all smiles! :)
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