Something Big is Happening in Key West Real Estate

If you're one of those would-be buyers who spends too much "work time" sitting in front of your office monitor searching new listings or back-on-the-market listings on the Key West Association of Realtors mls website or scavenger sites like Zillow or Trulia, you may have noticed two separate phenomena.  First, many of the recent higher priced listings have gone under contract within a matter of days after being listed. Second, many of the listings that have seem to have been "one the market forever" have also recently gone under contract. I think we are going through another "I'm gonna get my Key West house before they are all gone" phases. There is a paucity of listings, especially of nice homes in good condition in the best locations. People with money are grabbing up the few places on the market. This is especially true of homes priced in the million dollar price range or higher.

There are a total of 29 houses priced at $800,000 or higher that are classified as contingent or pending closing at a median price of $1,299,900. Just this week our office placed 620 Elizabeth Street (offered at $4,595,000) under contract after just 44 days on the market.  Two blocks down the street 809 Eaton Street (offered at $1,995,000) went under contract in just four days. 1021 Washington Street which has been on the market 1749 days (offered at $2,750,000) went under contract. 1109 Windsor Lane (offered at $2,175,000) went under contract after 2075 days on the market. The new listing at 824 Fleming Street (offered at $2,499,000) went under contract in 36 days of the listing date. Two new developments are selling multiple units in lighting speed - Southermost Cabana Resort Townhomes in the 1000 block of Simonton Street (offered in the $800s and $900s) and Old Town Villas in the 100 block of Simonton St (offered at $1,599,000 and higher).  CLICK HERE to see what is being purchased.

If you have been sitting on the sidelines it might be time to take some action. I don't think prices are going to go down. I'm pretty confident they are going to go up. If you are not able to purchase a property right now, don't fret. There will always be new properties on the market because life events like divorce, job changes, foreclosure, and so on. The thing about buying now versus waiting until the future is you don't know for sure what will be available nor when or at what price. As a buyer you are in control of how you deal with the present. Just keep in mind there a lot of people just like you sitting in front of their computers looking at the same listings ready to pounce. If you snooze, you may lose. It is a good time to buy in Key West.

44 Kingfisher Lane - Key West - Bank Owned

Just Listed - 44 Kingfisher Lane, Key West.  This 780 sq ft two story cottage two bedroom cottage is ready for immediate occupancy.  This BANK OWNED property surprised me with all of the upgrades it has including first floor travertine marble floors, crown molding, and custom cabinets in the kitchen and living room. There are new impact wind resistant windows throughout the house. The exterior Hardiboard siding helps make this a home-safe-home and a place that will be less expensive to insure year over year.  Whats-more the house is nestled away at the far back side of the Kingfisher Lane cul de sac at the Key West Golf Club Community. The house is located out of view but just to the right side as viewed in the aerial photo below.

When I stepped inside the front door of this new listing I immediately knew the home had been lovingly maintained by the former owner. Everything was and is first rate in this place.  All of the homes are laid out pretty much the same. You enter into the home with the kitchen on one side and the stairway to the second floor opposite the entry door. The living area is located at the rear where French doors open out to the rear deck. A half-bath is located under the stairway. This home has a bonus feature of built in storage under the stairs plus custom cabinets in the living area.

There are two bedrooms on the second floor each of which has a vaulted ceiling.  The front bedroom has a laundry closet (pictured below). The master bedroom has built-in chest of drawers. The four windows in the master bedroom give this space the feel of being in a tree house that overlooks the fourth hole at the golf course. I snapped a photo of the golf course shortly after a brief rainstorm.

Besides making windstorm insurance rates much more affordable, wind impact resistant windows and glass panel doors do not require a handyman to button them up in the event of a storm. And they always allow the owner to look outside and see what's going on instead of having to peek through openings in shutters.  CLICK HERE to view more photos I took of 44 Kingfisher Lane.

 The Key West Golf Club Community has two pools, a fitness center, and block after block of beautifully maintained homes many of which overlook some part of the golf course or the interior gardens within the development. The golf course is public so no membership is required. In less than two months homeowners here will start to decorate their homes for Christmas. This place always looks great during the holidays. I've had several potential buyers say something like "I don't play golf." Well, you don't need to play golf to enjoy the views and live the near country club lifestyle at one of the most affordable prices in Key West based on a price per sq ft basis. 44 Kingfisher Lane is offered at just $319,900 or $410 per sq ft. CLICK HERE to view the Key West mls datasheet on this bank owned property. Keep in mind you can move in and not have to fix anything. 

After you have done your homework looking at photos and mls listing details, please call me, Gary Thomas, 305-766-2642 to set up a private showing of this little doozy.  I am a buyers agent and a full time Realtor at Preferred Properties Key West. Let me help you find your place in Paradise.

526 William Street #4 - Old Town - Key West

Old Town Key West is known for its beautiful old homes. What was once called Delancey Hall at 526 William Street is one of the prettiest of the old girls. The building was thoroughly renovated and  converted into five condominiums back in 2001.

Delancey Hall is one of the very best renovations I have seen in Key West. The quality of the workmanship and the superior interior finishes look as good today as they did thirteen years ago when the original renovation was completed. Each Delancey Hall unit was built to high quality standards. Unit #4 located at the second floor front was just listed at the asking price of $499,000. The listing Realtor describes unit #4 this way:

"Beautifully restored one bedroom condo in the Heart of Old Historic Key West. Delancey Hall was built in late 1800's and converted into 5 luxury condo's in 2001. This particular condo is located on second floor to the front of the building overlooking William St. Spacious outdoor balcony to enjoy outdoor dining or lounging. Granite kitchen with double counter tops overlooking living area. Excellent lighting throughout, Dade county Pine walls and beautiful hard wood floors. Shared pool with brick patio and grilling area."

 Unit #4 is located on the second floor front or William Street side of the property. This one bedroom unit has 550 square feet of interior living space (almost the same size as some two bedroom units at Shipyard Condominiums in Truman Annex). It occupies the south side of the building so you will have good interior light. And unlike Shipyard, you won't have a lot of neighbors - there are just five units total. There are two units on the main level and three units on the second floor. The condo across the hall to the north is a two story unit which has an interior staircase to the third floor. These two units second floor units share the second floor front balcony that overlooks charming William Street. The entrance to the fifth unit is at the back of the second floor. That gorgeous unit has two bedrooms and a private rear balcony that overlooks the pool below.

This unit would be perfect for a buyer that wants a chic Key West getaway that is both stylish and well located. The interior walls and ceiling are Dade County Pine. Who wouldn't appreciate the gleaming new floors and crisply painted crown molding and interior trim? Note also the classic Kohler bath fixtures. Every architectural element of this unit exudes style. (P.S. There is a pool at the rear.)

I searched the historic Sanborn Fire Maps and learned that a building sat on the lot at 526 William Street as early as 1889 when the street identifier was 139 William Street. The identifier was changed to 526 William Street by 1892. I am pretty confident this is the same building as the structural dimensions did not change between the years.

 Delancey Hall has a superior Old Town location. In the morning you can walk a couple blocks north to the Historic Key West seaport and grab breakfast at Harpoon Harry's or experience fine dining at the A&B Lobster House at night.  The Waterfront Playhouse and the Red Barn Theater are within easy walking distance. You're sure to be thoroughly entertained at either live venue. The restaurants and Duval Street nightlife make for a convenient night on the town and are just a five minute or so walk back home.

CLICK HERE to view the Key West mls datasheet on this property. Please call me, Gary Thomas, 305-766-2642 to schedule a showing of this really sweet Key West property.  I am a buyers agent and a full time Realtor at Preferred Properties Key West.

1310 Newton Street - The Meadows Area of Key West

The listing Realtor describes 1310 Newton Street as

"Charming turn-key house in the popular Meadows neighborhood was fully renovated in 2004 from the supporting piers up to the roof. Home is bright and modern with great use of space. Detached 100 s.f. accessory building in the back yard has been used as an artist studio with power and water and is ready for new owner to customize."

I checked the Historic Sanborn Fire Maps for Key West to see if I could determine the approximate age of the house. The house first appeared on the 1892 map where it was identified as 208 Newton Street.  The 208 Newton Street was changed to 1310 Newton Street on the 1899 map. So we know that the house existed at least as of 1892. The entire block was omitted in the 1889 map so the could house could have had an even earlier date of construction.

I searched through the old shoebox and found a photo of 1310 Newton Street that was taken in 1965. Compare the black and white photo to the recent color photo.  The house now sits behind a white picket fence. The screened-in front porch is now open. The almost foreboding facade is now welcoming, bright, and cheerful.  Today it looks like home.

The front door opens to a long hallway that leads to the living area located midway in the  home and ends at the rear where the kitchen and dining area can be found. The two bedrooms and bath are located up front.  This configuration is typical of many cigar maker cottages where the front rooms become bedrooms and the main living spaces are located at the rear of the property.

The combined living, dining, and kitchen area offer a decent amount of living space.  The kitchen cabinets and island provide lots of storage places as well.  French doors at the rear open out to the rear deck that acts as a conduit to the stand alone cottage at the rear. The building could be an artist studio or maybe a writer's cottage or a simple hobby room. A bricked courtyard completes the remainder of the backyard. In my opinion there is not enough room for a pool with the small cottage located at the rear. 

1310 Newton Street has 972 sq ft of living space. The lot measures 24.5' X 88.5' or 2168 sq ft. which is typical of the area. Newton Street is a one-way street that runs eastward from White Street about four blocks where it ends at Eisenhower Drive. Most of the streets in the Meadows are one-way streets. The streets are narrow. The good thing is most of the homes in this area are single family residences.  There are a few apartments and condos, but they are in the minority. Parking is normally easy.

CLICK HERE to view the Key West mls datasheet on 1310 Newton Street and 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.  Let me help you find your place in Paradise.

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1414 5th Street - Key West Bungalow with a Place for Mom

What an inviting and pretty house 1414 5th Street is. As I got out of my car to take photographs of this home I had to stop and take in the simplicity and charm of this home. We are all aware of the Cigar Maker Cottages, Eyebrow Houses, and Grand Conch Houses in Old Town. And we all are familiar with the mid century homes and more recent new homes in the Casa Marina Area which often sit behind imposing six foot privacy fences. So it was pleasing to see an atypical bungalow framed by waving palms and perched behind a green lawn in the Mid Town Area of Key West. It immediately looked like home!

I soon learned that what I saw from the street is a much larger house and even larger property than I imagined. The irregular lot measures 100' X 100' with a "cutout" of about 50' X 50' on the northwest corner. The resulting lot is totals 8370 sq ft on which the house is located. Besides the broad front lawn, there is off street parking to the north and a large backyard with abundant space for a pool.

According to the Monroe County Property Appraiser the original house was built in 1938. It was updated and expanded and now totals 2307 sq ft of living space. The front door opens into the home that is arranged like most homes up north in America. The living room, kitchen and dining area are located up front. A central hallway leads to the bedrooms that are located on either side.

 You will notice that plantation shutters filter the view from the outside looking in which works the same way from the inside in the other direction. Also notice the travertine marble floors, crown molding, and recessed lights throughout the house. 

There are three bedrooms in the main house. Two of these bedrooms have en-suite baths. A third full bath is located off the central hallway and serves as guest bath as well. You will notice the travertine marble floors and crown molding continue into the bed and bath areas.

I mentioned this home also has a place for Mom. In 2008 the home was enlarged with a two bedroom one bath addition that includes a very large living area and kitchen. This is the perfect place for Mom or Dad or both in the golden years. There is a private entry off the front that includes a nice outdoor area. Inside, the expansive kitchen opens out to the living room and dining space. The two bedrooms are on the far side of the living room. Doors at the back of both the main part of the house and Mom's addition open out to the back yard where there is a nice deck and small shed. There is plenty of room for a pool. Perhaps a new owner might convert the shed into a poolside cabana.

The 2008 renovation included new siding, new windows and doors, new roof, new electric, new plumbing, new floors, etc. They forgot the pool. But that's an easy fix. There's plenty of room for a large pool and extensive grounds. These are the creative things new owners love to add. This home did not flood in Wilma. CLICK HERE to view more photos of this extra large property.

CLICK HERE to view the Key West mls datasheet on 1414 5th Street which is offered at $650,000. Then please call me, Gary Thomas, 305-766-2642 to set up a showing of this very pretty home that includes a Place for Mom.  I am a buyers agent and a full time Realtor at Preferred Properties Key West. Let me help you find your place in Paradise.