Bank Owned - Key West - Waterfront - Affordable

How about my title for today's blog "Bank Owned - Key West - Waterfront - Affordable"? Four things that entice many buyers to take a further look. They included bank owned - the owner is a local bank. Key West - just about every body's dream place to live. Waterfront - okay, the house is located on a Key Haven canal but it provides quick access to the big ocean. And, yes, it is affordable by Key West standards - priced at $599,000.

This bank owned property is located on Key Haven at 3 Aster Terrace. The house has four bedrooms, three baths, a big new kitchen, and lots of living space. The house is 2200 sq ft and sits on a large 6,000 sq ft lot. This is how the listing Realtor describes the property:

"Bank Owned! Large Key Haven home with 4 bedrooms and 3 bathrooms, with one bedroom and bath that could be used as a mother-in-law unit or lockout. Renovated in 2007, some of the upgrades include kitchen with stainless appliances and maple cabinetry, new plumbing, new electric, impact resistant windows, and recessed lighting. Excellent floor plan with living room, den, dining room, and Florida room. Key Haven is a waterfront community located just minutes away from Old Town Key West. Excellent boating access to Gulf and Atlantic waters."

The house was freshly painted when I showed it in was first listed in September. The electricity was turned on and the house has not sat festering away like so many properties owned by the big banks that are too big to fail and too big to care. CLICK HERE to read more details about this house and view some really good photos. This house shows well.

There is a cute little front yard complete with palm trees, picket fence, grass, and off street parking. The rear deck (canal side) needs a little landscaping, but that could be a great weekend project for the new homeowner. The house appeared to be in move-in condition. This property is priced at $599,000 or $265 per sq ft.

If you would like to see 3 Aster Terrace please contact me, Gary Thomas, 305-766-2642. I am a full time Realtor at Preferred Properties Coastal Realty Inc. in Key West, Florida. It may be snowy and cold in the northeast today, but it is always wonderful in Paradise.

Bank Owned Homes - Flagler Avenue - Key West

Flagler Avenue is a major street in Key West that brings traffic onto the island and past homes, multi-family properties, and a few strip malls. It abruptly ends at the posh Casa Marina Resort. It is like big feeder streets located across the country. Every town has own. Most people don't want to live on feeder streets like Flagler Avenue. As a result prices are usually lower because of the address itself and not because of any necessary deficiency with the property. Listed below are two bank owned single family homes that might make a good buying opportunity.

2918 Flagler Avenue is a 3 bedroom 1 bath house with 1309 sq ft of living space plus a separate building out back by the pool. The lot is very large - 6360 sq ft. Someone bought this house in June 2006 and paid $800,000. It is now Bank Owned and is offered at $335,000 or $256 per sq ft. CLICK HERE to read what the listing Realtor says about this house and view PHOTOS. I showed this a couple of months ago. It went under contract soon thereafter and just went back on the market. 2918 Flagler is the poster child for bank owned homes. It smelled and it looks terrible. It needs cleaned and painted. It needs some landscaping.

A mile to the east you will find 3814 Flagler Avenue which is also Bank Owned. This 5 bedroom 3 bath home with a beautiful poo, two car garage and 3109 sq. ft of living space on a gigantic 14,175 sq ft lot on the water is offered at $950,000 or $306 per sq ft. CLICK HERE to read more detailed information and view PHOTOS of this house. This is how the listing Realtor describes this property:

"Great opportunity to own a significant waterfront property on a canal in Key West. This 5 bedroom, 3 bathroom home has 3,109 square feet of living space and sits on a oversized 14175 square foot lot with a large pool. A few of the amenities include a two car garage, gorgeous tile floors, new roof, seawall, fireplace and plenty of storage. Bank owned."

CLICK HERE to see an aerial photo of 3814 Flagler Avenue. It is the pink colored property numbered 78160 at the far right side of Vista Del Mar highlighted in yellow. The property provides immediate deep water access. There is a giant pool and off street parking. So what if the roof is shaped a little funny. We all had funny hair in the 1970s when this house was built.

Please call me, Gary Thomas, 305-766-2642 to see either of these Bank Owned properties. I am a full time Realtor at Preferred Properties Coastal Realty Inc. in beautiful Key West, Florida. Let me help you find your place in Paradise.