Bewitched - Act Two

Samantha Stevens must have twitched her nose, because the big new house at 929 United Street in Key West sold at a magical price of $1,000,000. You may recall that I wrote about this property CLICK HERE when it was offered at $1,495,000. I really liked this newly constructed house house. Everything inside and outside was done just right-except for the paint on the front porch. This house had top of the line Viking appliances, designer cabinets in the kitchen, high end light fixtures and plumbing fixtures. The grounds were very nicely landscaped and had exterior lighting and a sprinkler system.
I mention this sale because 929 United Street was originally listed at $1,950,000 or $1026 per sq ft in February 2008. It sold June 15, 2009 at $526 per sq ft. That is a remarkable price reduction for a very nicely done new property. CLICK HERE to see more info on 929 United Street.

Note: 929 United Street was not a short sale.

Some readers may argue that the location on United Street pushed the sales price down. Perhaps it did, a bit. But all properties are located on a little island and many of our streets have real traffic-as does United Street. Not every street in Key West is a quiet little lane. I think the price is more a realization that the original asking price was unrealistic and that a seller in today's market must be realistic if a meeting of the minds is to be reached. It does not matter what someone paid for property years earlier or how much money (or sweat equity) someone put into a renovation. Market value is driven today by how much a knowledgeable, willing, and able buyer is would pay for property.

Prospective Buyers for Key West real estate know how to use the Internet to search the mls and public record websites. They can use the Key West mls database or other search sites to see what asking prices are. More importantly, they can see recent sales to develop a realistic appreciation for what a prospective purchase is realistically worth today.

Congratulations to Cory Held and Everett Watkins of Preferred Properties on the sale of this property.

If you are thinking of buying a place in Paradise before all the good houses are sold, CLICK HERE to search the real Key West Association of Realtors mls database. If you see a place that you like, please think of calling me to assist you. I am a full time Realtor at Preferred Properties Coastal Realty Inc, an affiliate of Christie's Great Estates. Contact me, Gary Thomas, at 305.766.2642 or by e-mail at kw1101v@aol.com.

Open House Sunday 927 - 929 United -- Key West

Open House Sunday November 2nd
11:30 AM to 3:00 PM
927 & 929 United Street

Attention all of you Parrot Heads and others in Key West. This is your opportunity to preview two beautiful new homes located nest to each other at 927 United Street and 929 United Street on Sunday between 11:30 AM and 3:00 PM.

I wrote about these two homes on September 30th. CLICK HERE to see what I wrote. Better yet, come see for yourself. Cory Held (the listing Realtor) and I will be present to answer your questions regarding these exciting homes.

Stop by after church or brunch. Take a break before the football games start. Avoid stark raving reality on CNN & MSNBC or repeats on the FOOD NETWORK or the omnipresent LAW & ORDER.

CLICK HERE to see the beautiful two story corner lot home located at 929 United Street.

And CLICK HERE to see 927 United Street, the smaller, but so sweet counterpoint to 929 United Street.

Bewitched in Key West

Just Listed by Preferred Properties Christies Great Estates (that's where I work these days) 927 and 929 United Street Key West. These enchanting houses are located on the cusp of Old Town and the Casa Marina Area. Both are brand spanking new.

927 United Street is a 3 bedroom 2 1/2 bath 1800 sq ft home that was built in 2007 complete with top of the line finishes. The 9350 sq ft lot is huge by Key West standards. Upon entrance you are greeted with a wonderful open living space featuring hand crafted moldings, cherry wood floors, French doors leading to the pool and veranda. The front, side and rear yards are beautiful. The kitchen has beautiful wood cabinetry with granite counter-tops and Viking stainless steel appliances. The master bedroom suite has its own private courtyard. The master bath is a jewel. This house is surrounded by lush tropical landscaping complete with an irrigation system and landscape lighting. Off street parking for two cars. This house is offered at $1,450,000 or $806 per sq ft. CLICK HERE for more detailed information and photos of this property.

929 United Street is a newly built Key West Conch House just blocks from the beach and Duval Street. The attention to detail goes beyond one usually sees in new homes with marble and wood flooring, state of the art bathrooms with mosaic tiles, European style finishes throughout and perfect lighting both inside and out. The ample kitchen has designer cabinets, granite counter-tops and Viking Appliances. There is an adjacent butler's pantry-laundry room. The three bedrooms share the second floor. The master bedroom is very large and has vaulted ceilings and a large California closet system. The pool is located in a tropical setting surrounded by rare plants, irrigation system and exterior lighting. Off Street parking. This two story 1900 sq ft house sits on a huge 9350 sq ft lot and is offered at $1,495,000 or $787 per sq ft. CLICK HERE for more detailed information and additional photos.

Both houses were just recently completed. They are sitting empty waiting for somebody to turn them from houses into homes. I see both houses as being buying opportunities for buyers who want a Key West house (a) that is new and does not need a lick of work, (2) that looks old but that is really up to the minute with architectural detail and custom finishes, (3) that is located near Old Town and all the attractions Old Town has to offer,(4) that has a large lot and pool area so that the owner can appreciate Key West's wonderful outdoor living, (5) and that is a real value for the asking price. Both of these houses meet that criteria. Neither house is a short sale, but both are being offered for sale at a price than is less than the developer has in either property. That is a buying opportunity.

If you are looking to buy a Key West house or condo and can't twitch your nose to make it happen, please checkout all of the Key West homes currently listed for sale in the Key West MLS database. CLICK HERE to search for the property of your dream. If you see something you like, please call me, Gary Thomas, 305-766-2642 or e-mail me at kw1101v@aol.com.
You don't have to be a witch to turn either house into your home, but it would help if you had a bunch of cash in the bank, a rich Uncle Arthur, or good credit.