I have lived in the Casa Marina Area of Key West since 1995. I have watched the fall and rise of many structures over those years. I have seen the explosive growth of the early 2000s and the decline over the last three years.
Ever since I moved to the area I could be assured to hear some contractor's electric power tools buzzing from 8:00 AM until around 5:00 PM. There was always somebody doing something to their house. Until this year. The number of projects has dwindled to a trickle as the market in Key West turns on its head. There are still some projects going on. But not like before. Some of the big projects are nearing completion such as the Key West Steamplant and the new hotel rooms at the Southernmost Resort (where Atlantic Shores used to be located).
The cute little house at 915 Washington Street was redone several years ago. I watched as it was renovated and updated for today's lifestyle needs. Rooms were reconfigured, bathrooms updated, kitchen replaced, decks, pool and landscaping added. And now that house is offered as another Short Sale at the asking price of $719,000 or $594 per sq ft. I think the house will end up selling at a much lower price. This is how the listing Realtor describes the property: "This excellent Casa Marina value is a short sale and subject to lender approval. From the custom Conch shell gingerbread trim to the delectable tropical pool, this delightful Casa Marina gem will please one and all. Open kitchen, scrumptious tropical colors, and desirable Casa Marina location in addition to 3 bedrooms with baths en-suite plus powder room make this value stand out."
The house is 1211 sq ft and sits on a 3600 sq ft lot at the corner of Washington and Grinnell Street. The author Judy Blum used to own two separate houses on either end of the block just a few years back. The house directly across the street at 916 Washington Street. sold in March 2008 for $2.4 million or $600 per sq ft for the 4000 sq ft home on a large 7480 sq ft lot. That house was new and the new owner did what so many high end buyers do: he tore out much of what the prior owner had done and rebuilt the house to meet his needs. I heard he spent a cagillion on it. The point is that the neighbor hood is solid. And I can testify that it is quite.
CLICK HERE for more detailed information and photos of this cute house. I think this could be an excellent buy for someone who is willing to go through the waiting period to buy a short sale property. This house has so many of the features that second home owners look for in a Key West home. And this house is located about four blocks from the Atlantic Ocean.
Want to see this charmer? Please call me, Gary Thomas, 305-766-2642, or e-mail me at kw1101v@aol.com.
