Key West Realtor Understudy

I was searching the Key West MLS yesterday when I noticed a new listing that reminded me of a nearby property that I sold a few years ago. My buyer and I arrived at the house on an early Saturday morning to be present during the home inspection on the house he had under contract. We met the inspector who set out to poke, prod, test, and photograph various parts of the house.

Remember this was an early Saturday morning - not anywhere near cocktail time - not even near lunch. Or even brunch.  The listing Realtor was present. She was wearing heels and a tight fitting dress with a very short hem.

The home inspector opened the access panel to the attic and went up. The listing agent followed. I was standing below with my buyer. We both looked up as we were preparing to follow. Imagine the photo above but without the tights. Or anything under the dress.

Things that have been seen cannot be unseen.

"Welcome to Paradise" - 915 Washington Street, Key West

Christmas is arriving early this year. But I must warn you, if you snooze, you'll lose. If you doubt this Mr. Thomas, you will be sorry. I know this to be a fact and not some Realtor mumbo-jumbo. The adorably sweet Casa Marina Cottage located at 915 Washington Street in Key West was just listed for sale.

The listing Realtor (not me) describes it best as she writes:

"Classic Conch Home in prestigious Casa Marina neighborhood. This three bedroom, 3.5 bath historic home has an expansive, large, comfortable front porch on beautifully landscaped corner lot in Casa Marina that whispers “Welcome to Paradise.” Soaring ceilings and light-filled windows in the open floor plan living room and kitchen connect through French doors to the secluded outdoor entertainment areas with pool, deck and private conversation spots. Corner lot ensures you enjoy every Key West breeze. Rare off-street, covered parking for you and your guests. Gleaming hardwood floors throughout are accented with custom tiles in the kitchen and master bath, bringing a touch of classic Old Key West to this home. Choose either of the two en-suite bedrooms for your master, third bedroom with bath plus a lock-out door is a perfect office or guest suite. This home in one of Key West's most desirable residential neighborhoods has been updated and lovingly maintained. Move-in ready for those desiring that special classic Key West look-and-feel with potential to add your personal touches."

It is such a joy to view a home that is truly loved and taken well care of. When you look at the exterior of this house for the first time you will instantaneously know it looks equally charming on the inside. It's like seeing a little boy or girl with a freshly scrubbed face, combed hair, big smile, and clean clothes. Precious is easy to recognize. You get one chance in life to make a good impression. This house wins that point! While there are only a few other cottage style homes in the Casa Marina Area, this is the only one with such a presence.

This 1211 square foot home sits on a 3600 square foot lot at the corner of Washington and Grinnell Streets. You just cannot ask for a better location in Key West. The streets are wide and the houses are well maintained. Many of the homes in this area are second homes, and most of the recent home sales were for properties priced well over one million dollars and several in this past year have topped three million dollars.

When you open the front door you enter into the great room with its vaulted ceiling that spans the east side of this home. Multiple sets of windows and French doors at the end provide ample muted light into this wonderful space. The color combination of the bright ceiling, colorful walls, and rich wood floors create a restful space for easy living. The French doors open out to the side garden where the pool is located. The pool is actually located just east of the front porch which faces south. That means you will have sun in the pool area most of the day.

The hallway leads to the three bedrooms located on the west side of the home.  There is a powder room located just on the other side of the kitchen wall. Each of the bedrooms has a bath.

CLICK HERE to view the Key West MLS datasheet plus all listing photos of this lovely cottage style home located in the coveted Casa Marina neighborhood. 915 Washington Street is offered at just
$1,250,000. That is a deal!  And that is why I said "If you snooze, you'll lose. Please call me, Gary Thomas, 305-766-2642, to schedule an appointment to see this sweet home with a precious countenance. I am a buyers agent and a full time Realtor at Preferred Properties Key West. While you won't be able to own this place in time for Christmas this year, it certainly could be your home for Christmas next year. But only if you act quickly.

712 Ashe Street, Key West - Present Perfect

I have written about the house at 712 Ashe Street in Key West a couple of times for over the past three years. I remember the day I first set foot in the original house. I almost dare not write about the place for fear of any reader thinking that any part of the old house remains except for a few, and I mean FEW, original boards remain, because what used to be belongs in a creepy TV show. The place was a mess from floor to ceiling, front to back, and all places in between. It was scary walking around inside because the floors were so damaged I could have stepped through them. Below are a couple of photos of what used to exist, but mind you and read on to understand, all that was is gone. What you see as of today is all new and very well done at that.

The rear of the original house was torn down. The backyard was cleared all a metal outbuilding and decades of dead foliage. The front part of the house had been modernized sometime in the 1950s or 1960s when the asbestos shingles and windows were added to enclose the original porch.

The house was re-built in a two part process. The new rear section was built first. Only a few boards from the old front porch remain. And when the "renovation" was nearly completed, the boards from the front porch were ripped off.  I took progress photos during the rebuilding. They appear below. You can see more photos if you CLICK HERE.

The previously enclosed front porch is now open and extends west down to the front door - about twenty feet from the front. The front door opens into a vaulted hallway that leads to the great room at the rear. As you near the great room you're gonna be amazed at the height and breadth of the space which now includes a rear wall of glass. The ceiling height is 14 feet.

While the house looks like it is old, it is anything but. The interiors are clean, white, and modern, The new home should appeal to a broad spectrum of buyers. The house has wind impact resistant windows and doors, Hardiboard siding, and all the other features you would expect in new construction including marble bathrooms, quartz counter tops in the kitchen, tongue in groove ceilings, and white ash solid wood floors. The pool is surrounded by Abaco decking and there is even an outdoor shower amid lush tropical landscaping. Finally, the house is located in X Zone so flood insurance is not required.

The new house has three bedrooms two of which share a Jack-and-Jill bath. There is also a guest bath located off the entry hall and adjacent to the laundry closet.

The listing Realtor is also a reader of my blog. He invited me over to see the house while construction was in process. As we stood in the front room before the drywall was installed, he described his vision of how the room would look. Remember I told you the old house was creepy. Below is a pic I took way back when. (I won't write why I called it creepy.) Remember as well the original house was taken down in sections. What you see in the two lower photos is all new construction from the ground up.

This house sits in a really great Old Town location. Ashe Street is a little known street that is tucked in between White Street to the east and Frances Street to the west. Frances is the east boundary for the Key West cemetery. White Street runs the distance between the Atlantic Ocean to Eaton Street. It provides quick access to any part of town to the east. Duval Street is a five to ten minute walk depending your pace. Ashe Street is more narrow than other streets and really does not lead anywhere except out. And because of this, there is not much traffic, no trolleys or conch trains, and few tourists. So a new owner can sit on the front porch and watch the world go by very slowly almost as if this house was sitting on one of the slow lanes of Key West. And remember this block has some of the prettiest little homes on the island. That is why I refer to 712 Ashe Street as being present perfect. If you are a cash buyer, this could be your home by Christmas.

CLICK HERE to view the Key West MLS datasheet for 712 Ashe Street offered at $1,450,000. 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. 

Key West : Buildable Lots and Renovation Properties

Summer is nearly over. Fall is on the way. This is always the worst time of the year to sell a house in Key West. It is the same way every year. 2017 isn't special in that regard. Many shop owners and restaurants will close for vacation during September. There's no reason to have a crew working if nobody is buying t0shirts or trinkets, eating over-priced food, or sleeping in hotel rooms. Ten weeks from now, however, Fantasy Fest will begin and throngs of thongs will parade on Duval Street. Money will flow like crazy once again. The super boat races follow in November and then Christmas ushers in season when the serious real estate buyers return. Like it or not, our real estate market is still "hot" and prices continue to appreciate year after year.

Potential buyers in the Key West should appreciate the limitations of our real estate market. Unlike many parts of Florida where cities can expand into vacant areas or build skyscraper condominiums near a beach, Key West has a limited land mass and numerous governmental restrictions which severely limit new construction. The Old Town area of Key West has strict rules which disallow taking down historic older houses and impose standards on how existing homes may be renovated. As a result most of our construction involves the renovation of existing properties in Old Town and/or razing non-historic properties in other parts of our island city.

The Key West MLS has a few "vacant lot" a few properties with an existing structure which could be razed or renovated. Building a new house or renovating and expanding an existing property will tax any marriage, but if done correctly, the rewards could be astounding. A new owner will end up with the house of his or her dreams.  Let's take a look.

317 Virginia Street, Key West

317 Virginia Street is located in the Bahama Village area of Key West. It is  a vacant and cleared lot which measures 25.25' X 86.92' or  2195 sq ft lot offered at $369,000. CLICK HERE to view the Key West MLS datasheet.This lot is located a little over two blocks west of Duval Street and about three blocks east of the soon to be completed Truman Annex Waterfront Park. I think there will be a surge in demand for homes in the Bahama Village area soon after the park opens and the public sees how easy it will be to get to the park.

323 Angela Street, Key West

323 Angela Street has an existing 840 sq ft home plus loft situated on a 4,824 sq ft lot (48' X 100.5') offered for sale at $724,500. This house is located a little over one block west of Duval Street in Bahama Village. A new one and one-half story house is being built right now next door to the west.   CLICK HERE to view the Key West MLS datasheet.

622 Mickens Lane Key West (vacant lot only)

622 Mickens Lane is a 27.5'  90' vacant lot offered for sale at $381,000. If it were purchased along with 624 Mickens Lane (below) the combined site would be a 4,500 sq ft renovation property located in the X-flood zone just a block and one-half off Duval Street. CLICK HERE to view the Key West MLS datasheet.

624 Mickens Lane Key West

624 Mickens Lane has an existing 948 sq ft wood frame home sitting on a 90' X 23' lot which is offered for sale at $575,000. CLICK HERE to view the Key West MLS datasheet.

903 Eaton Street, Key West

903 Eaton Street has an existing 761 sq ft non-historic concrete block house which can be taken down and a new house built on the 5,300 sq ft lot which measures 50' X 103'. This is the largest lot for sale in the Old Town area where a new house can be built. The photo only shows the front 1/2 of the lot. The existing house and even larger lot is located behind the wood fence. CLICK HERE to view the Key West MLS datasheet. The existing house two bedroom one bath house would probably rent in excess of $2500 per month. A new owner might rent parking spaces in front to locals who do not have off street parking for $150 a month or more creating an additional $450 or more in rent.

26 Floral Avenue, Key West

 

Gulf of Mexico

26 Floral Avenue is located in the Key Haven addition to nearby Stock Island just five miles east from Duval Street. This is a 60' X 100' (6,000 sq ft) lot with seawall on a canal which leads to deep ocean water. This lot is nestled between other homes added to the area in the past fifteen years. Those homes are typically two story located over covered ground parking. The houses on Floral Avenue all have first and second floor views of the Gulf of Mexico across the street and water views of the canal at the rear. Owners in this part of town are most often young professionals as well as retired locals who moved here when Key Haven became an upscale bedroom community for locals displaced from Old Town. It's super easy to go out to the boat after a day at the office, grab a beer, and take the boat out for a couple of hours. CLICK HERE to view the Key West MLS datasheet.

These are the active listings. One might assume there are many other large lots in the Old Town area that might become available in the future. I doubt it. Most of Old Town is tightly developed. Vacant lots and buildable lots are the exception to the norm. Scarcity creates value. I think an investor could buy any one of the above lots and sit on it for five to six years and probably double the value. 

If you are a buyer who wants to build a new house in the Old Town or nearby area please give me, Gary Thomas, 305-766-2642, a phone call. I am a buyers agent and a full time Realtor at Preferred Properties Key West. Let me take you on a short tour of these particular properties and discuss the possibilities they offer to you.