25 Sea Lore Lane, Shark Key Florida - Bank Owned Waterfront Home near Key West

Shark Key is a small island peninsula which extends off US 1 into Florida Bay on the Gulf of Mexico side of the Florida Keys. Shark Key is a gated community with 74 waterfront lots about half of which are actually built. There is a large swimming lagoon, tennis courts, and community center surrounded by lush tropical foliage, flowering trees, and magnificent specimen palms. Most of the homes on this island sanctuary are large villas compared to the small cigar maker cottages and conch homes located about seven miles down the road in Key West.

The listing Broker describes the newly listed Bank Owned waterfront home located at 25 Sea Lore Lane this way:

"Wonderful location, facing the Easterly breezes in this unique and upscale gated, waterfront community. Shark Key is a peninsula jotting out from US-Hi Way 1 into the Gulf of Mexico. Enjoy the gorgeous sunrises and romantic moon rises with star filled nights from your private deck & heated pool. Tropical, mature landscaping all around home provides privacy and pleasant views from every window. For your vehicles there is a brick paved driveway, 3 car garage, and plenty of additional off street parking. A spacious Clubhouse with kitchen, tables & chairs and wide wrap around, covered decks facing the waterfront is available to residents. Enjoy the covered picnic area by the Swimming Lagoon, it is a beautiful setting. The two tennis courts are adjacent to Clubhouse. Shark Key is located 11 miles from down town Key West, it's the best of two worlds, a private island bursting with tropical landscaping, lagoon, beautiful waterfront homes and a short drive to Key West." 

I had the opportunity last week to show this home to potential buyers. While it did not meet their needs, it may be of interest to someone reading this blog. The 3023 sq ft home is situated on a large 14,968 sq ft lot over looking the open waters of Florida Bay. The house has 4 bedrooms and three baths. The master bedroom is located on the first floor next to the living area and shares part of the deck that looks out to open water.

Front entry proceeds to the great room. Sliding doors open out to the covered deck.

Pool views from the great room with open water to the rear

Dining area located adjacent to the living area with kitchen in foreground

Master suite located behind the mirrored wall

The great room, kitchen-dining area, and the master suite are all located on the east side of the home where each area has great water viewing opportunities.  The deck traverses the entire back side of the home. About half the deck is covered while the remaining spaces provide areas for sunbathing or entertaining. 

There are three tiki huts on the grounds with two located near water's edge and one in the front off the gated private entry. The tiki huts add to the tropical allure of this home. I am confident this once grand home can be easily be restored to its former self. The interiors will need painted, the decks will need some sprucing up, and the landscaping will need some judicious pruning. But when the work is done, the inside and the outside will look just great.

This is a really big house by Key West standards.  It will provide a new owner with four good sized bedrooms to meet the needs of a real family with growing kids. The first floor guest room would make a great living space for an older parent living with the family. That bedroom is located above the two are garage and is set off by itself which provides additional privacy. The kitchen is really large and will provide abundant work space for food preparation and clean-up. The outdoor area will give adults and children alternate places to enjoy their time outside.

As the listing broker pointed out, this is a gated community of exclusive waterfront homes which share the usage of the private swimming lagoon, tennis courts, and clubhouse. There is a key pad operated gated entry. The beautiful private roadway is maintained by the home owner association. The monthly hoa fees are $400 and cover common area maintenance, security, and management.

CLICK HERE to view the Key West mls datasheet and listing photos of 25 Sea Lore Lane on Shark Key which is offered at just $999,000. Other active listings on Shark Key run from $1,775,000 to $6,450,000. Then please call me, Gary Thomas, 305-766-2642, to schedule a private showing of this bank owned home.  I am a buyers agent and a full time Realtor at Preferred Properties Key West. This truly is a buying opportunity.   

101 Petronia Street, Key West - Bank Owned

Just Listed 101 Petronia Street in Key West. This house was built new in 2004 and has a lot of features home buyers are looking for including a pool and off street parking.

The listing Realtor describes this Bank Owned property this way:

"Newer 2 story 2 bedroom 2 and a half bath with a large loft and dip pool in Bahama Village. Hardwood floors, wood cabinets and granite counter tops. Walking distance to restaurants, art galleries and night life."

So here's the skinny on this house. The house was built new in 2004. It is a two story two bedroom and two and one-half bath home with 1240 sq ft of living space that sits on an irregular lot that measures 1945 sq ft. The lot is irregular because a portion of the second floor is built over the single story building next door. CLICK HERE to view more photos I took. You will then understand. 

The interiors suggest to me that this house has many quality finishes you don't normally see in a lot of newly built houses anywhere in Key West.  That means to me that the prior owner really took pride of ownership in this property. Again you need to look at the photos for the details built into this home.  It starts at the front gate where you see the attention to detail that flows through this home.

There is a nice side yard on the west side of the house with a gated entry at the front. This yard needs some new landscaping to replace what must have been there before. There several French doors in the living room and great room that open out to this and the rear deck and pool area. Yes, there is a real pool with waterfall at this home. The deck and house all look in very good condition. A home inspection should be ordered but I did not see anything that caused me any concern other than the place needs a good cleaning and a fresh coat of paint.

CLICK HERE to view the Key West mls datasheet on 101 Petronia Street which is offered at $585,000. Then please call me, Gary Thomas, 305-766-2642,  to set up a quick showing of this Bank Owned property which I suspect will sell quickly at over the asking price. I am a full time Realtor at Preferred Properties Key West. This house has so many positive features that include its recent construction, real wood siding, wood interiors that mimic Dade County Pine, real hardwood floors, a pool, and parking all of which are located two blocks from Duval Street.

1211 Grinnell Street # F, Key West - Bank Owned Property

Slowly but surely the backed up foreclosures are working their way through the Key West court system. I wrote about 1211 Grinnell Street Unit #F in September 2015 when it was a short sale. That short sale did not get accomplished. Today the property is Bank Owned. That means some lucky buyer is going to have an opportunity to buy what I think is a nice house in the very desirable Grinnell Gardens Community.

Grinnell Gardens is a unique compound consisting of seven distinctive units which share a large and sunny pool. Each home has one designated off street parking space. These homes were built new in 1994 and replicate the Greek Revival architectural style found in many houses in our Old Town area. This particular two bedroom two and one-half bath home has 1390 square feet of interior living space plus covered first and second floor front porches for private outdoor entertaining.

The prior owner was the original owner of this unit who paid extra to incorporate additional insulation between the first and second floor as well as the space separating this unit from the one next door. The owner also applied custom Venetian plaster to the interior walls and pickled the floors and wood work, both techniques that were in vogue two decades ago.

This house is pretty simple. And that is the joy of it. The combined living, dining, and kitchen area make for a relaxed Key West lifestyle home. If you were to become the new owner you could take this house as it comes or maybe sand and refinished the real wood floors - perhaps add a dark stain. Maybe you would tone down the walls with a more subtle paint scheme and paint the trim a crisp white that is found in so many of our older homes. You might landscape the back area which right now is begging for some attention. The view of the million dollar home next door only adds to the appeal of this space that has been forgotten.

The second floor center hallway separates the master suite which is located at the front from the guest bedroom and laundry located at the rear. Venetian plaster is also found on this floor except here each bathroom his tile floors The bathrooms have fixtures that were popular a quarter century ago. The windows in each bathroom are frosted glass for privacy.

When you open the door out to the second floor balcony you immediately appreciate not only the views but also the charm of this sweet little environment.

Three of the seven homes in Grinnell Gardens have their own private pools. Over the years that I have shown units here, I think I have only seen people sunning by the main pool twice. That's actually pretty common in small places like this. The home owner association rules do permit owners to rent their homes on a long term or vacation rental basis. But the people who stay here treat this place like home. CLICK HERE to view more photos I took of this property.

1211 Grinnell Street #F in Bank Owned and offered for sale at $630,000. Please CLICK HERE to view the Key West mls datasheet and then call me, Gary Thomas, 305-766-2642, to schedule a private showing of this home. I am a buyers agent and a full time Realtor at Preferred Properties Key West. This home has so much potential as a new full time residence or as a second home for buyers that hope to retire here in the future. I know some places may generate more short term income, but I always caution buyers to consider whether they would want someday to live in a place where a hundred or so units turnover every Saturday afternoon. That is something all potential buyers should consider.