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

Tuesday, March 19, 2013

800 Fleming Street #2A ~ Old Town ~ Key West

 800 Fleming Street #2A in the historic William Fleming Condominiums in Old Town Key West is offered at the asking price of $875,000. The listing Realtor describes this unit as:
"Modern renovation of this late 1800's Historic structure. As you enter you are greeted by soaring ceilings, revealing a spacious living/dining room with French doors that open to a wrap around porch. Two large bedrooms with sleek bathrooms, new kitchen with custom slate counters and stainless steel appliances. Stairs lead to an extra 180 sq.ft. of loft space not included in the square footage, which can be used for sleeping or storage. Located just blocks from Duval and the Waterfront. Beautiful community pool. One off street parking."
The facade at 800 Fleming Street looks much different today than it did during the previous century. I found two old photos showing the building as it looked when the building was known it was the Peacon Grocery and later as Long's Furniture. Mr. Peacon was the owner of the grand house at 712 Eaton Street which was briefly owned by Calvin Klein. (Peacon Lane runs perpendicular to the Calvin Kkein house.) I like the way the developer added balconies around the perimeter of the building, but I doubt that a developer would be able to make such a bold change to a similar building today. Those balconies provide lots of exterior space for the owners to enjoy their homes and to watch the world go by.


The building was updated several years ago and balconies were added to expand the living spaces to the outdoors. I snapped the pics of this wonderful building a couple of weeks before Christmas. The facade is different and so is the use. What would have been a relic and maybe torn down was given new life in Key West. CLICK HERE to view more photos of this home.

CLICK HERE to view the listing details and photos of the interior of this two story in town condominium located in the heart of Old Town Key West. This 1281 sq ft unit occupies two floors of the building and has views of the pool and gardens. The units in the building feature Dade County Pine walls, floors and ceiling and have that "old Key West feel" that many buyers want. The ceilings are very high and the doors and windows open to decks overlooking the pool below and the pristine homes on William Street. This unit is offered at $875,000 or $683 per sq ft. The condo is located on one of the best blocks in Old Town and is a convenient walk to everything. The property is located three blocks east of Duval and three blocks south of the Historic Key West Seaport.

A potential buyer seeking a sophisticated second home in Key West ought to consider this lovely condominium which has no homeowner upkeep issues as opposed to the money pits some single family homes can become.


If you are looking for a pied-a-terre or just a plain old condo, please contact me, Gary Thomas, 305-766-2642 or by email at kw1101v@aol.com. I am a buyer's agent and a full time Realtor at Preferred Properties Coastal Realty, Inc. in Key West.





Thursday, July 26, 2012

Lender Liability - Think Before You Do Something Dumb-Again


Many long time Readers know that I was a licensed attorney in Colorado for several years. Later I worked in the Special Assets Department of a very large bank headquartered in Denver. Subsequent to that job, I managed a similar department for another bank. It was my legal background that brought me to the banks because my job involved the management and collection of problem commercial loans and the related sale of assets acquired through foreclosure or other legal process.

The story I am about to relate does not involve me personally. I do not feel comfortable naming names and identifying any of the people or institutions involved even though what happened occurred decades ago.  I am telling this story now because banks and bankers still do the dumb things that led to the chilling lesson learned by one time employer.

The Special Assets Department I worked in had four attorneys, two non-lawyers, and two secretaries. Our boss was a former tax attorney for the IRS.  He was a senior vice president who reported to one of two executive vice presidents.  The principal character in this story was a non-lawyer who I will call Harold. Harold haled from the Midwest. He fancied himself as being very smart. I think he thought himself to be smarter than the attorneys in the office-maybe even the smartest guy in the bank with 900+ employees.  He may have been. I am not sure. Maybe not.  But I know he thought he was smarter than most people because he had that "I am the smartest guy in the room" attitude. He always had a smart remark, a quick rebuke, or a knowing stare. He stood maybe 5'10" tall and always wore the bank uniform: a single breasted blue blazer and gray slacks. We didn't really have uniforms, but every lender on the commercial floor wore that same outfit at least once a week. Harold wore nearly every day.  He had awful breath. I can still smell it. He was a young guy, maybe thirty five years old when the incident occurred.  He had a college education from the big university in his home state. Harold was no rube.Like I said, Harold was smart. Very smart. 

The story takes place in Denver in the late 1970s. Banks located in Colorado at that time were individual entities. They were stand alone banks. They might have been affiliated with other banks whose stock was held by a holding company, but each bank operated as a single entity.  It was for that reason that the really big bank for which I worked made a large variety of loans throughout the state and even across state lines in some instances. The bank made loans to politicians. (Boy, could I tell you some stories about loans to politicians. But I won't.) The bank made loans to oil producers, farmers, and to small businesses and big businesses (sometimes through participation loans when the dollar amount exceeded the bank's lending limit). The bank also made lots of loans to regular retail bank customers in its personal banking and executive banking departments. Back in the 1970s banks did not make home loans.

One of the loans the bank made was to a borrower who owned and operated an egg production facility located east of Denver. I referred to the place as huge chicken condos where thousand of chickens lived in cages. I was not involved in this loan at any time. I made only one visit when I accompanied Harold to inspect the chicken condos which on that date had no chickens. The place had no chickens or any sign of life.  And that is why Harold and the bank got sued by the borrower.


As I recall the borrower alleged that Harold and the bank over-reached its rights as a secured creditor and engineered an event of default which was the pretext for the bank taking possession of the chicken condos and other collateral which the bank then sold.  I recall Harold had obtained a court order giving him the right to enter upon the property and seize the collateral before he actually stepped foot on the property. The borrower hired some smart lawyers (they always manage to do that) and filed suit in Denver District Court and naming the bank and Harold as defendants. The borrower alleged the initial court order obtained was based on incorrect information that Harold supplied and upon which the court relied and that the subsequent taking and liquidation of collateral were improper from the beginning. A jury trial was had months after the chicken condos were seized. I recall that the trial lasted about a week. Can you imagine how much that cost the bank to defend? Bank lawyers don't work cheap. They churn out hundreds or thousands of billable hours to do research, take depositions, prepare for trial, and then sometimes try the case. They work in groups and carry lots of banker boxes filled with papers.Every minute that they talk to each other or someone involved in the case becomes billable time. And the big bank pays for each and every billable minute like clockwork.


At the end of the trial the jury reached its verdict. The jury found in favor of the borrower and against the bank and Harold.The bank lost its claim to any remaining collateral on the loan and had a monetary judgement entered against it in the amount of one million dollars. The judgment had to be paid (or bond posted in the event of appeal). The bank elected to pay the judgment and limit the loss.

The borrower did not trust the bank. I know why.  Few people really trust banks.  The borrower demanded to be paid the one million dollars in cash. He showed up at the bank with his attorney and a suitcase. A bank guard stood by as a bank officer (not Harold) handed over the money which was counted for accuracy. The borrower left the premises with the bank guard protecting him until he exited the front door.

Fast forward thirty-five years. Banks still have special assets departments and workout officers who deal with collecting problem loans. Sometimes they have characters like Harold who over-reach in trying to collect those loans. Bankers are supposed to rely on the advice of legal counsel when developing and implementing a collection strategy. I'm pretty sure Harold felt he had acted correctly because he got a judge to give him legal authority to go upon the borrower's premises to seize control of the chickens and the real property. The jury that reviewed his conduct months later, however, did not agree.

It seems that no matter how smart some people are or how much training they may have had, some people, like Harold, continue to do dumb things that cause big banks to have to pay up for what judges and juries decide was egregious behavior. There is a legal term for this kind of conduct: lender liability. The borrower typically claims that the lender pursued the borrower so aggressively that the lender's conduct drove the borrower out of business or destroyed the value of the collateral securing the loan. Sometimes borrowers allege that the lender's conduct in the sale and disposition of the collateral, even if rightly seize and sold, impaired the value of the collateral and reduced the amount due care would have generated had the collection and sale process been handled properly. And sometimes the borrower becomes physically or emotionally distressed for which additional monetary compensation is sought. If you have been sued by a big bank or had your home foreclosed upon or your business seized, you may understand the trauma that some borrowers really go through. If you are a banker you would think before you do something dumb-again.

I often tell people I have been plagued by jobs that I have held. I have been a lawyer, a banker, a federal government employee, and a Realtor. All jobs normal people hate.  I never really liked associating with bankers outside of where I worked. Many have the same arrogant attitudes that Harold had. Many are as cheap as any human being I have ever met, except when it came to buying a meal on expense account. And I found some took a bit of pleasure in making other people squirm. I left that life and those people behind when I moved to Key West where today I sell real estate. Today I help people buy dream houses in Key West.






Thursday, September 29, 2011

Misconception - Key West Real Estate

As I get older the more I thought I knew becomes blurred. Partly because my memory isn't what it used to be (true), and because things that I grew up believing are true no more. I really did believe in the Tooth Fairy. I really believed in Santa Clause despite the protestations of my big brother otherwise. When Officer Goody came to my grade school and told my classmates about safety, I believed all policemen were good. I believed, for example, that my government would never lie to me. Life taught me that sometimes others say things that are not true: some say things that are not true with good intentions; some make untrue statements because they know not better; some say falsehoods because it suits their needs. The mind is a fertile place to plant a seed of misconception.

The talking heads on TV, the people that write the gibberish we see on our Internet service provider email home page, the blog writers that pontificate TAO of anything, all say things that are not true, sometimes. They plant the seed of misconceived truth in our minds and we let it grow and sometimes turn it into a truism that governs how we look at the world.

I never got mad at my parents for deceiving me about the Tooth Fairy. I still recall the excitement of going to bed at night waiting with expectation that the Tooth Fairy would come and take my old tooth and leave me a dime. Maybe I would wake up and see Her. What a present!

Besides telling me there was no Santa Claus, my big brother told me I was adopted. If one were true, the other must be true as well. I thought. I idolized my big brother. Why would someone I trusted so much tell me something that was not true? I questioned. This is not an insignificant matter for a child or an adult.

It seems like every TV channel has some guru that spouts politics, sports, lifestyle, or news 'information'. We listen. We believe what they say is true because they are on TV.

The big newspapers are now online and many of the great and not so great writers have blogs where they discuss issues of the day in more depth. News and Opinion get blurred. What someone writes in the New York Times or The Wall Street Journal must be true, mustn't it?

I recently learned that school text book authors pen educational texts based on the preferences of local school boards. I guess science and history aren't viewed the same these days as they were when I was a kid. Classics like Huckleberry Finn get revised with the hurtful word 'nigger' removed. Revising the words revised the intent of those words and that changes the context of the book. Maybe it makes the old south and the way white people treated black people not seem so bad. Maybe there are two sides to everything. Or maybe not.

I worked for the Resolution Trust Corporation from 1990 to December 22, 1993 when I moved to Key West. The RTC was the short lived government agency that cleaned up the savings and loan debacle of the first George Bush administration. Every month, quarter end, and year end we would all scramble to put together numbers to show how productive we had been. Government agencies (even like the RTC that had its sunset destiny determined when it was created) have to justify their existence. Statistics theoretically prove progress so part of our ongoing job was to create statistics. I worked with some really smart (I mean really! smart people) and I loved my job. I worked with some incredibly incompetent fools as well. Many of those fools were 'lifers' at the FDIC that were on loan to RTC. They brought their governmental largess with them. They relied on rules and procedures and resisted flexibility and speed. The smart guys won and the statistical accomplishments were noted. Since I was a part of the information gathering, I can say that I doubt if all the information that was disseminated was totally accurate. Later, others would use those statistics to make a political point about what had (or had not occurred). Seeds of misconception were planted. I am sure the last George Bush administration and the current Obama administration required or requires government employees to create statistical data to support whatever it is that the administration wants to prove.

Today we watch TV or read news items or blogs that discuss the housing market or real estate. Some stories on TV or in the press or blogosphere focus on specific locations like Las Vegas, Sacramento, Detroit, or Miami. Other times talking heads on TV and writers of all ilk write about the housing market as a whole. They regurgitate the government generated statistics about sales or new construction starts as an indication of a national trend. People who listen or read may conceive that what they hear or read is also what is happening nationally and where they live or maybe where they may want to buy a place, like Key West.

A state official recently spoke to the Key West Association of Realtors and mentioned the 'shadow' inventory of un-foreclosed mortgages the banks are withholding. I watch TV and I read that dribble. At least one elected official bought into it. Maybe there are two or three or maybe hundreds or even thousands of elected officials believe it. Perhaps millions of normal everyday people believe it. Where is the source of this information and how reliable is that source? And if the statement that banks are withholding filing massive numbers of new foreclosures is true, are those foreclosures spread out across the country or are there specific areas that may be more forcefully impacted by lots of new bank owned properties? The mind can conger up all kinds of scenarios about what could happen.

I have written several blogs that discuss the local Key West sales statistics and the number of new bank foreclosure filings that start the process of taking a house away from its owner. Sometimes the foreclosure process takes just a few months. Sometimes it can take a few years depending on whether the owner hires an attorney and files an answer denying the mortgage is in default. A foreclosure action filed in August 2011 may not be resolved until 2013 or later. Or it could be over with in early 2012. The legal system takes its time to adjudicate each and every foreclosure. That means we will continue to see new bank owned properties hit the Key West mls for several years. Again, it does not mean we are experiencing a continuing calamity. Instead, it is a logical end to a process that was started either months or even years earlier. Don't let your misconception of the process control your understanding of present day reality.

The same is true for short sale listings. Even though the Key West real estate market has begun a recovery, there are individuals who can't take the pressure any more and have decided it is time to sell. Many good houses are now available at greatly reduced prices from the mid 2000's. Some short sales get concluded within a matter of a few months. Some banks are getting very proficient in getting problem loans off their books. Other short sales drag out for months on end. Often the failure to get a short sale approved is a function of a seller or short sale negotiator that does not provide timely or correct information to a lender. Furthermore, there are now loan sharks that bought second mortgages at huge discounts that are demanding sometimes outrageous amounts to approve short sales on mortgages they would never foreclose. Their aim is to create havoc to get what they want. They often achieve their goal and drive up the price of a short sale just enough to piss off everybody. The short sale as a process will be around for quite a while despite a recovering market. It does not mean the market is deteriorating; it reflects the reality of dealing with properties not being worth as much in the present day as when they were purchased.

I think most of us have our share of misconceptions about a lot of things in life. Sometimes people tell us things in the media that may be true or partially true or false. We may believe what we read or hear based on the source of the information. If we can't have universal facts about science or history in the text books or revisionist literature that teach our children, how can we avoid developing misconceptions about 'facts' that get disseminated via the media and the Internet? My only suggestion is to have an open mind and question what you hear and read.

Saturday, August 6, 2011

Let's Buy a Guest House in Key West

Catchy name for a place to stay, eh! Maybe the GAYWAY MOTEL isn't your vision of the kind of guest house you envision owning, but I have a property that just might fit the bill. The Victorian House at 806 Truman Avenue in Old Town Key West is looking for a new owner. I think this place could "go gay" or stay "straight" and still be a good "buy".

The listing Realtor describes 806 Truman this way:

"***PRICE REDUCED*** Elegant and spacious historic home with three transient rental licenses. Great sitting rooms, formal dining room, five bedrooms, five full baths and two half baths including a beautiful 1/1 guest cottage. Dade County Pine, elegant architectural features, high ceilings and a new kitchen with high-end appliances. Wonderful outdoor lanai, separate heated pool and heated spa, off-street parking for two vehicles and lush tropical landscaping. An opportunity for a beautiful single family home or maintain as a vacation rental with great rental income. Property generated $175,000 in gross income in 2010. The Victoria House is an Historic Gem in the heart of Old Town Key West."


Here are the basics. 806 Truman Avenue is now offered at $1,895,000. The main house was built in 1918. The total square square footage is 2651. The property measures 57'x175' or 5729 sq ft. Click GOOGLE MAP for a aerial perspective of the property and its proximity to Duval Street and other Old Town destinations. Use the toggle switch for a ground view as well. Then recall what I have written before about the value of location when owning a guest house in Old Town. A lot of first time travelers come to Key West without a room reservation. Owning a really attractive property that is easily seen by unprepared tourists could put extra money in an innkeeper's pockets on those few nights when all rooms are not reserved. This property is not offered "furnished", but I suspect it can be purchased fully equipped. There are just three transient rental licenses even though the property as five bedrooms. An owner could live on the property I suppose and give up significant revenue for 365 days per year. The better option would be to purchase two additional transient licenses to take full advantage of the earning power of this great property.

CLICK HERE to view a slide show of photos I took of this property a few weeks ago. I had shown the property when it was for sale several years ago, but I forgot how delightful. This place is in just wonderful condition. Every surface is clean. Really clean. I only noticed one area on the second floor rear deck that needs some wood repair. Otherwise, everything on the inside and outside is highly maintained. I was particularly impressed with the quality of the furnishings (which I noted are not included in the offering) and the fixtures in the bathrooms. Nothing is Home Depot "cheap". To the contrary, all fixtures are high quality and durable. The result is that a new owner will not have to be doing repairs. The third floor has a fire suppression system plus rear stairway to the ground floor for easy access to the pool or as an emergency exit.

There is another place in town that was for sale a couple of years ago. It was my poster child example of what I would not want to own as a guest house. It had a lousy location off the beaten path surrounded by low income apartments . It had no pool and, in my opinion, no charm. It appealed to low budget travelers. I often see tourists dragging their luggage down Truman heading toward that place. Maybe they arrived by bus. I'll bet they took full advantage of the coupons for budget dining as well. I can't imagine working all year long to spend one lousy week in a Key West when you could do just the opposite.


I can imagine being delighted at the prospect of staying at 806 Truman. Each of the rooms is different and delightful in its own way. Each room has a private bath, television, and lots of charm. Each has immediate access to a private or semi-private porch or deck. Being able to sit outside and dream about living in Key West full time is part of vacation therapy. I'm sure we have all dreamed of living in a favorite vacation spot. I know I dreamed of living in Laguna Beach, Palm Springs, LaJolla, the South of France, and parts of Italy. I had to "settle" on Key West and have never regretted it. The important thing is that guests have private outdoor space to relax and unwind.


I think the Victoria House could be a very good candidate for a conversion to a gay guest house and maybe a name change. It has a great location and all the amenities that would appeal to gay travelers.

While there are only five guest rooms, this place is not "small". The rooms are large and the entire property seems quite large. Nothing is cramped nor compromised. One does get the feel of being the guest in a grand large old home. And that, Dear Readers, is the point of staying at a guest house instead of a motel on the boulevard or an economy guest house off the beaten path.

CLICK HERE to checkout the Key West mls datasheet and to view listing photos of this property. This property is currently managed and rented as a single home with guest cottage on a weekly basis. Seeing the property requires advance notice and planning so that guest vacations are not interrupted. If you would like to see this property or any other property in Key West, please consider working we me, Gary Thomas, 305-766-2642 or by email at kw1101v@aol.com. I am a buyer's agent and a full time Realtor at Preferred Properties Coastal Realty, Inc. in Key West.

Friday, August 5, 2011

840 Olivia Street - Old Town - Key West

840 Olivia Street with two off street parking spaces
Even the listing Realtor says this new listing at 840 Olivia Street needs a little TLC (maybe short for Tools, Labor, and Cash) but he adds:
" Great location for a house you can move into tomorrow. Needs some TLC but has all the potential for a really nice home. New windows, updated appliances and new A/C units are some of the desirable features of the property. Off street parking for two cars and room for a small pool are definite pluses. Anyone interested in an Old Town location at a affordable price should seriously consider this property."
This property is a new listing of Preferred Properties (that's where I work but this is not my listing). I got to take some photos of the house yesterday and want to share my thoughts with you about this Key West property. I remembered the house from several years ago when I showed in while renovations were then in progress. That was at a time when everything in Key West was selling like hot cakes. It was a time when the demand for houses in Old Town was so high that owners started cutting big houses into smaller parts and turning them into condominiums. Those 'condo conversions' are today sometimes difficult sells. Most buyers want a real house that they can own outright and not worry about condo rules regarding pets or neighborly supervision of what one can do in one's own home.

I remembered this house because it is located across the street from the Key West cemetery and partly because it was not a total rehab. By that I mean the house wasn't jacked up and new piers added and made perfect. It did not get the Key West Conch cottage kitchen or designer baths or kewl pool. Instead, it got things that the basics including new windows, new siding, new storm shutters-all things that reduce windstorm insurance and minimize maintenance repairs. Maybe the prior owner-redeveloper got it right in deciding not to go all out on his then renovation. A lot of buyers refuse to even consider buying a house that overlooks the cemetery. I have people who refuse to look let alone think of buying any property with a cemetery view. So keeping the costs manageable and doing things that were necessary instead of everything one could do (and spend thousands of extra dollars in the process) may have made good business sense.

A few years ago I wracked my brain trying to figure out why so many houses on Olivia Street always seemed to be for sale. I thought and thought and then realized that Olivia Street is about the longest continuous residential street in the Old Town area. It starts on the western most edge of the Bahama Village section and then runs one-way easterly to the very end of Old Town at Eisenhower Drive. That's about 15 blocks. Below is an aerial photo of Old Town taken in 2006 that shows 840 Olivia Street marked by an "X".

I dug deep into the old shoebox and found a very ominous photo (below) of 840 Olivia Street taken back in 1965. Could the 'shinings' in the photo be denizens from across the street? The house was built about 1892 and got a second story sometime after 1965. I am confident our present day HARC would not permit such an addition today. I'm not saying it is bad, but it is not in keeping with the other one story Conch Cottages located on Olivia Street. That second floor and the added space helps give this house value but the historic integrity is missing. Sad face:(.

840 Olivia Street as it 'appeared' in 1965 complete with apparitions

This house has just under 2,000 sq ft of living space on two floors (1188 sq ft to be exact). Downstairs there is a good sized front porch where you can look over to the cemetery. You enter into a hallway that actually opens into the living room to the left. The result is lots of light in this space from windows in front, the left and right. The updated kitchen is at the back. A steep staircase takes you to the second floor. The master bed and bath are at the rear and two other bedrooms are at the front. They share a bath. There is a off street parking large enough for two cars and a decent sized back yard.

Living room

Recently updated kitchen

Master bedroom is at the second floor rear

Room for a Pool?

Rear side yard looking to the off street parking and beyond

This property is tenant occupied and rents for about $2400 per month plus utilities. A lot of locals live in shared living arrangements like this. A single person can pay $800 per month plus a a share of the utilities and get a clean place to live in a convenient location. Many locals do not have cars but instead rely on scooters, bikes, or feet. A buyer that is looking for a property that he or she or they could update sometime in the future for personal use should consider a place like this because you an buy it now while prices are still affordable. The place can throw off predictable income to service a new mortgage while you wait until it is time for you to redo the place the way you want.

A forever unobstructed view

CLICK HERE to to view the Key West mls database on this property and to view listing photos. You can see photos I took if you CLICK HERE. This property is offered at $474,000 or $399 per sq ft. The listing agent is out of town next week and I am showing this house for him. Please call me, Gary Thomas, 305-766-2642 to schedule an appointment to see 830 Olivia Street in Old Town Key West. I am a buyer's agent and a full time Realtor at Preferred Properties Coastal Realty, Inc. in Key West.

Thursday, July 21, 2011

1517 Washington - east Casa Marina Area - Key West

I wrote about 1517 Washington Street a couple of months back when it was a fresh new listing. It went under contract soon thereafter. The would-be buyer isn't gonna-be. So the property is now back on the market and available once again at the affordable asking price of $425,000. I've shown this property several times since I wrote the initial post. I am now more convinced that this is a super bargain for a buyer looking for a entry level house into a very nice area of Key West. Please read on.

The listing broker describes the property this way:
"This darling two bedroom home is sure to please! It's located on a pretty street within blocks from the beach and old town. A cheerful sun porch entry leads into the main living area. The kitchen opens to an inviting screened porch where one can enjoy the view of the tropical vegetation including fruit trees. The property has beautiful original cuban tile floors and plenty of room for a pool and expansion. Easy to see!"
Living room with original Cuban tile that is in near mint condition

Vintage Florida Room is just a gas!

The basics: 952 sq ft of living space under roof plus a large covered and screen rear patio. The lot is 4698 sq ft ( 50.25'x93.5') with lots of room in front, on both sides and a very large rear area with plenty of room for a pool. Click GOOGLE MAP to view an aerial perspective and then zoom closer for a better view of the area. Use the toggle switch for a street view. Most of the other homes in this area have been enlarged or razed and new homes built. One could do that here, but the house is just fine as it sits. The home was perfectly maintained for decades and I saw no noticeable deferred maintenance.

The house was built in 1963 so it has the architecture of that era. The slanted roof and jalousie windows give this house a distinguished look. Some may not like it, but others will embrace it. Much of the architecture in the Mid Town and New Town areas of Key West have similar features. Some buyers do blow-outs or tear downs and reconfigure and expand the living space. Others prefer to conserve money and fix that which is broken and update that which needs it. When money is tight, some new owners prefer to keep things simple and do low cost improvements rather than big renovation projects. This house could go either way in my opinion. This house has been perfectly maintained and will be just fine if left as is. Serious! It is old Florida. I can imagine how chic this place could look if filled with 50's and 60's vintage furniture. The kitchen, however, has been updated.


CLICK HERE to view a slide show of photos I took of the property. And CLICK HERE to view the Key West mls database for this home. Spend some time looking and I think you will see the value in this house you could easily move in tomorrow.

This house is within a few minute bike ride to Rest Beach and Higg's Beach to the south. Fausto's Food Palace is a couple of blocks to the north. The Island Gym is nearby as are many small eateries and coffee shops. Old Town is a fifteen minute bike ride or less. The airport is about five minutes by car. The three Key West shopping centers are also five to seven minutes on a normal day. And the Key West Dairy Queen is only a few minute walk on a hot summer night.

Higg's Beach as viewed from Salute on the Beach
Rest Beach as depicted in a vintage "Old Florida" post card

Fausto's Food Palace

More locals go here than the bars on Duval Street

If you are interested in buying this house or any other house in Key West, please consider working with me, Gary Thomas, 305-766-2642 or kw1101v@aol.com. I am a buyer's agent and a full time Realtor at Preferred Properties Coastal Realty, Inc. in Key West.


Disclaimer

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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