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Showing posts with label gary thomas realtor. Show all posts
Showing posts with label gary thomas realtor. Show all posts

Saturday, April 2, 2022

TIME OUT- WHO LET ALL THE FOOLS RUSH IN?


TIME OUT! Somebody has to call it. It might as well be me. The Key West real estate market is officially gone bonkers. People who bought homes a year ago and putting them back on the market and selling them at even higher prices. Not a few people. A lot of people. A lot of Realtors are complicit in this. Greed has taken over. What is going right now is insidious.

I am not saying all houses are over-priced or that all Realtors are greedy. Many. Not all. I am referring to Realtors on the second point. I have thought for a long time many of our houses and some condos were under-priced. Many were certainly under-valued. Some languished in the MLS for months while other properties located in a better or more popular area sold more quickly or at a higher price.Now almost every listing sells within days of being listed.

I have seen volatile markets here before and have written about them in this blog over the years. I did a quick search of my blog and found one called Lessons Learned. Boy did I learn that lesson.

For years I would show homes to folks who had a dream of buying a second place in Key West in hope they could retire here later in life. Many scrambled together the money a down payment and figured out a budget they could meet. Some even let strangers sleep in their beds (for a fee) when they were at their full time homes up north. I am fearful that the people who had the dream of buying here someday will absolutely get squeezed out by the people with money who want in on the land grab. And even worse some of these later-comers are going to get burned. Real bad.

What is going on now is different. Some people are using their houses as money machines. They are like Bit Coins you can actually see and use - then cash them in and move on. Insidious. 


 

Friday, April 1, 2022

Mid Town Queen - Key West


Attention buyers lurking on the Internet in all the wrong places for a piece of Key West that you can call your own.

There is more to Key West than the high priced houses in Old Town and Casa Marina. You need to venture out. Open your eyes. Go places you have never been before. 

Take a walk on the wild side. Or ride your bike or drive your car. But do not go at night. Just sayin!

This is the before photo. Before it got reshaped and resided. Gypsies lived here or whatever they called themselves. It got queened up, ... Er cleaned up. And made all aesthetic.

This Sea Side Special won't last long. Priced at just $599,000. That's what a house like this sold for ten years ago. That's a steal. Call me, Gary Thomas, the Mid Town Queen Realtor.


 






Thursday, March 31, 2022

Key West Real Estate Throwback Thursday No 44

from February 6, 2014

Key West's Newest Beach

 A tourist recently captured a couple of photos of Key West's newest beach - The Fleming Street Beach located opposite the Monroe County Public Library.


If you would like to buy a place in Key West that has a pool and more privacy, contact me, Gary Thomas, 305-766-2642.  I am a buyers agent and a full time Realtor at Preferred Properties Key West. Let me help you find your place (with a pool!) in Paradise.

 

Update A few weeks ago I was driving on Fleming Street and saw the same guy still tanning on Fleming Street. A lot of people don't have pools. Some go to the Dante's, some go to the beach, some create their own place in the sun.

Wednesday, March 30, 2022

513 William Street, Key West - SOLD


Congratulations to the Seller, the Buyer, the Listing Broker Brenda Donnelly, and the Buyers Broker Terri Spottswood on the sale of 513 William Street, Key West. The closing price was $6,950,000

I blogged about this incredible home in November 2021. CLICK HERE to read the blog and view photos of this wonderful property. The Williams Street and Pinder Lane property were purchased separately and at different times. The "Seller"and their team of architects, builders, craftsmen, and landscapers set the high water mark for what could be done with a quality renovation. 

Way back before I had any idea of writing a blog I took photos of both properties while construction was under way. Below is a photo of 513 William Street taken way back in 2006.

The Seller purchased the Pinder Lane property which abutted the William Street house in the rear. The two properties merged into a larger estate type property with the Pinder property becoming a guest and poolside cottage with garage. It too becamse awork of art. Plaine from the street, it swed in person. 

I wish that I could have participated in the sale just for bragging rights. Again, congratulations to everyone involved. This is a true love story. 



Saturday, March 26, 2022

Key West Properties Blog Major Award for Over-Looked Renovation

 

I went to the Key West Citizen this morning to view the local news. They rarely print anything newsworthy. It's mostly fluff and ads. But then I saw an article entitled Group recognizes preservation of historic properties which I read. CLICK HERE I sold two of the properties recognized for Historic Preservation Awards ( 806 Southard Street and 533 Petronia Street). The owners, architects, builders and sub-contractors should be proud of the work they did and the recognition they have received. The author of the article misspelled the name of one of the owners of 533 Petronia Street. Nobody likes that. His name is Scott Burau not Buram. Minor point.

806 Southard Street


533 Petronia Street 

Sadly an equally impressive renovation at 1007 Thomas Street  was over-looked. Well, not exactly over-looked because he owner did not apply for an award. But should have. I wrote about the house in my projects of Key West series. I will share a couple of old and new photos and a link for the interested to readers to view more.

1007 Thomas Street  March 2019

I represented the buyer in the purchase of this property. I remember going inside the house with the buyer's architect Serge Mashtakov PE. The front porch had been enclosed years earlier to create more "living space". There was so much clutter inside that I stayed pretty much in one spot as the architect maneuvered around the place. I remember seeing voodoo dolls and other scary things inside. 


I found the black and white photo of the house after it was updated in the 1950s or 60s. The wrought iron columns were so popular back then. The photo shows us the porch was enclosed thereafter.

Shameless plug for the General Contractor




Look thru the open doors. That is the Key West Lighthouse in the background with all the little people peeping out to the wonders of Key West - wishing they could live here. 

I held an open house the day after I listed it. No adverting. Just my blog and Instagram and a couple of signs. I had 81 visitors and a signed contract in a week. Half the viewers were locals who stopped by to see the house. Every person was in awe. Many commented on how horrible the house was and how odd the former owners were. This was a testament to the design and care fo the owner, architect, and builder.

CLICK HERE to view more photos of  1007 Thomas Street which a lucky buyer closed on this week for $1,640,000. My congratulations to the buyer, the seller, Stan Shaw Construction, Serge Mashtakov PE, CHECK Electric, Greg Oropeza Esq, Richard McChesney Esq. and Laurie McChesney, my broker who helped me while I was on the mend.


 


Wednesday, March 23, 2022

Drama Club


I was in the drama club in the ninth grade. I was fifteen years old. 

Sixty years later I sell houses to rich people. Same thing. 


 

 

Monday, March 21, 2022

Key West Kmart - Another One Bites the Dust!

 

One of my earliest memories after moving to Key West in December 1993 was the day I was standing in the checkout line at Kmart. I spoke to the young lady behind or in front of me. I told her how cute her child was and asked if she lived here. (That's a fair question: we have lots and lots of tourists.)  She said yes to which I replied that her kid was a cute little Conch. She said her husband was in the military and they were leaving as soon as possible She was HORRIFIED at the prospect her child would be a Conch. She hated Key West and everything about it. Okay, Karen. The kid was still cute. Conch or Not Conch.

 

Before it was a Kmart, the building was a Zayre department store. Zayre filled for Bankruptcy in the early 1990s. The facade, signage, and store brand and merchandise changed. The Key West population also changed over the years. Key West has had a stable population base of 25,000 for generations. The populations needs and desires evolved as the base population became more affluent.

Back in 1993 Key West had a Burdines, JC Penny, Sears, and Kmart. Kmart had all kinds of departments including apparel for men, women, and kids, home goods, some limited furniture, sporting goods including fishing gear, home and garden including tropical foliage of all sorts, television and electronics, toys, and a Little Caesars Pizza. You could buy just about anything you wanted. You can do that now with Amazon except for the pizza part.

Kmart was located in the Keys Plaza Shopping Center at 2900 North Roosevelt. The Gulf of Mexico is located across the street to the north separated by a Home Depot and a string of town homes. The shopping center was swamped in 2005 during Hurricane Wilma. All stores flooded. Kmart was never the same. The Albertsons grocery store (previously a Woolco department store) later became a Publix.grocery store. 

I remember going back inside Kmart after Hurricane Wilma flooded the eastern end of the island. I was surprised at how the store changed - they didn't fix anything. The tile floors buckled from being under sea water. Departments disappeared or shrank in the amount of goods offered. It was like shopping in a third world indoor flea market. I only shopped there a few times thereafter. I had a "why bother?" attitude about Kmart and its merchandise. Kmart closed its doors forever in Key West last week. Another one bites the dust!

The Searstown center is located three blocks east of Kmart. SEARS was the anchor store for decades. Like Kmart it had a variety of departments plus furniture, mattresses, tools, and automotive center.Years ago each department had a cashier and sales people for that department. The Key West SEARS had a large and well stocked supply of televisions and major home appliances. A few years the store changed. There were fewer sales people who assisted in various departments (if you could find one).  And there only two checkout counters with people standing in line.  I renumber looking for a Blu-ray player at SEARS where once there were many and then there were none. The TV department had three TV sets. They gave in to Amazon and other internet sales sites. The departments and sales people had vanished. Cost savings measures led to lost business opportunities. SEARS closed its Key West store forever in 2020.

I feel a sense of loss for all the Kmart and SEARS employees except one - that long-haired assistant manager at SEARS who was a little p-word. Years ago I bought one of those behemoth TVs from SEARS plus an extended warranty. When the TV stopped working while under warranty, I took it to SEARS for repair. It was at SEARS for over half a year. When I complained, the assistant manager told me I should have bought a better TV. He was right. I bought one over the internet just like thousands and thousands of other Americans do each year. 

I later found out that the SEARS assistant manager was Karen's husband. They never left Key West and live in the trailer park behind SEARS. They both now work at the DMV.  




Friday, March 18, 2022

806 Pearl Street, Key West - Better Be Quick


Jack be nimble, Jack be spry

Jack jump over the candlestick

Jack be spry

Jack buy this Legal Duplex

Before somebody else does! 

Just Listed by Preferred Properties Key West is this cute two stories duplex located at 806 Pearl Street in The Meadows Area of Key West. This has been the craziest real estate market I have ever seen. Houses get listed for sale and then go under contract a day or two later. This place is a duplex, does not have off street parking, and it does not have a pool. But it is in good condition and it is located in a great neighborhood. And I think it is a near-perfect buy for a second home seeker who want a Key West getaway and some income to help defray the cost of ownership.

 
The 2022 color photo of 806 Pearl Street shows the cutification of the old girl with first floor front porch enclosed to create more interior living area and a bit of a front yard and fence for privacy. 

The first and second floor are basically the same, only different. They enjoy the same space but are not duplicates of each other. The first floor unit is 780 Sq FT and has a 10' X 16"deck. The second floor unit is 720 Sq Ft with a 6'' X 20'wrap-around deck and exterior staircase landing. My idea suggests a new owner may choose continue to rent the lower unit to the long term tenant and perhaps take over the second floor unit for him/her/they (self or selves). Or continue to rent that unit to its long term renter. A lot of buyers want a Key West base where they can come and go and lock and leave. This could be perfect.

806 Pearl Street is located across the street from The Meadows Townhomes. The property has 1,504 Sq Ft of living space situated on a 1.332 Sq Ft postage size lot. It is offered for sale at $885,000. CLICK HERE to view the Key West MLS datasheet and more photos. Then please call me, Gary Thomas, 305-766-2642, to schedule a private showing. I am a buyers agent and a full time realtor at Preferred Properties Key West. I meant what I said about Jack. Jack be quick. You better be to. 

The Meadows Area of Key West


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The information on this site is for discussion purposes only. Under no circumstances does this information constitute a recommendation to buy or sell securities, assets, real estate, or otherwise. Information has not been verified, is not guaranteed, and is subject to change.
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