Great Old Town Location

This one-of-a-kind Old Town house at 508 William Street is waiting for someone to make it a home. The property was completely renovated over a three year time period by JJ Fairbank Construction. This beautiful home features Brazilian cherry floors, high ceilings, crown molding and custom built french doors throughout. The gourmet kitchen is equipped with soapstone counter tops and professional stainless steel Viking appliances. The bathrooms are spectacular with large walk-in showers and Waterworks fixtures. There is off street parking, a covered loggia, and a heated pool. CLICK HERE for more photos and information on 508 William Street.

This smart and slick home is located three blocks from Duval and two blocks from the Historic Seaport. It has 3 bedrooms and two large baths. The rear of the house is brand new construction. There you will find the master suite with vaulted ceilings in both the bedroom and bath. And there are decks on either side of this area. The entire second floor is another master suite with sensational views of Old Town.

Let me show you this house. You will be very pleasantly surprised. The home has 1939 sq ft and sits on a 3346 sq ft lot. The house is priced at $1,999,000 or $1,031 per sq ft.

CLICK HERE to preview all current Key West mls listings and then call Gary Thomas 305.766.2642 to schedule a showing of your new home in Paradise.

Key West Home Sales in October

The number of October 2007 single-family home sales fell in line with the past two years. There were a total of 11 sales with gross sales totaling $10,435,000. The least expensive home was a 1 bed, 1 bath listed at $433,500 that sold for only $355,000 The average sale was a 1608 sq ft home listed at $697,000 but that sold for $550,000 after 97 days on the market. The most expensive home to close was previously mentioned in my blog. GO HERE for more on this grand old Key West home located at 620 Eaton. It was originally listed at $10,000,000 (along with an adjoining home on Elizabeth Street) in late 2004. The asking price was gradually reduced over the passage of time. It closed on October 31 for $3,300,000 or $590 per sq ft. (And the kitchen was not finished at that price.)

Condo sales for October 2007 produced 12 sales totaling $9,770,395. The least expensive unit was a 1 bed 1 bath listed and sold for $246,874. The average sale has 1228 sq ft and listed at $816,450 but sold for $695,000. The numbers get skewed a bit on the most expensive sale because the four highest priced units to sell were in the new Beachside Resort (the old Holiday Inn property on North Roosevelt.) The units were identical in every respect except location. The cheapest went for $933,000 and the highest went for $1,839,000. These units are part of a vacation rental program. And most buyers are committed to rent their units. The guy who bought at $933,000 may have got the better end of that bargain. More telling is the fact that the next highest sale was in Truman Annex for a unit that listed at $995,000 and sold for only $800,000.That owner/seller bought that unit in November 2005 for $1,225,000. So he took a $425,000 bath. The rest of the sales were in the mid to high $300,000’s—a far cry from previous years.

In October 2006 there were 13 single-family sales in Key West. The least expensive home was a 1 bedroom the listed at $425,000 and sold for $420,000. The median home was a1318 sq ft listed at $795,000 and sold for $685,000. The most expensive home was a 4 bed, 5 baths with 2872 sq ft and that was listed for $2200,000 and sold for $1,930,000 after 312 days on the market.

The least expensive condo sale in October 2006 was a 1 bed, 1 bath unit with 409 sq ft that was listed and sold for $235,907. The median unit was a 1032 sq ft unit listed at $524,000 and sold for $504,250 after 133 days on the market. The most expensive unit was 1 2 bed, 2 bath unit with 1357 sq ft at 1800 Atlantic that had a transient license. It sold for $735,000.

There were 10 single-family home sales in October 2005. The least expensive was a 2 bed, 1 bath home with 640 sq ft that listed at $525,000 and sold for $500,000. The median sale was a 1330 sq ft home that listed at $892,000 and sold for $840,000 after 145 days on the market.

In October 2005 the least expensive condo sale was a 1 bed, 1 bath unit with 382 sq ft that was listed and sold for $295,000 in one day. The median unit had 900 sq ft and was listed at $725,000 and sold for $699,000 after 126 days. The most expensive condo was a 4 bed, 3 bath town home in Truman Annex that had a private pool and all the extras. It was listed at $2,079,000 and sold for $1,937,250 or $1043 per sq. ft. Try to get that price in 2007. Not gonna happen. No way.

The majority of properties that went under contract during October 2007 were priced below $500,000. The market is just stagnant. There are buyers but they are looking at low-end properties. It seems to me that second home buyers are waiting for the other shoe to drop so that they can buy their dream home in Paradise at a deep discount.

Are you a bottom feeder? We may be near bottom. CLICK HERE to search the current mls listings and then give me a call to see what your dollars can buy in Key West. My number is 305-766-2642.

Gay Enclaves Face Prospect of Being Passé--Huh?

The New York Times reported it so it must be true: Gay Enclaves Face Prospect of Being Passe`. CLICK HERE to read the entire article.

The article's author, Patricia Leigh Brown, says"These are wrenching times for San Francisco’s historic gay village, with population shifts, booming development, and a waning sense of belonging that is also being felt in gay enclaves across the nation, from Key West, Fla., to West Hollywood, as they struggle to maintain cultural relevance in the face of gentrification." She talks about the change of character of San Francisco's Castro Area and how that mirrors the destruction of gay neighborhoods. The article then mentions Don F. Reuter, a New York author who is researching a book on the rise and fall of gay neighborhoods, or “gayborhoods.” He says “The Castro, and to a lesser extent the West Village, was where you went to express yourself.” “Claiming physical territory was a powerful act. But the gay neighborhood is becoming a past-tense idea.”

Poppycock. I was in San Francisco two weeks ago and the Castro was a gay as gay can be. I was in the Folsom area and it was gay can be. The department stores around Union Square were filled with gay sales clerks and gay shoppers. There was a sea of gay men. Ms. Brown specifically referred to the Castro Street Halloween celebration back in 1979. I was there on Halloween Night in 1979. The next night I was part of the filming of the finale of the movie CAN'T STOP THE MUSIC. That was 28 years ago. What a glorious time we all had.

In the article Ms. Brown mentions straight people walking down Castro Street today as if they were reclaiming space. Poppycock again. Gay enclaves don't mean straights are not allowed. There are, if anything, more gay stores today on Castro Street than there were 28 years ago.

As for Key West's mention in the article as being a part of these "wrenching times" of "population shifts, booming development, and a waning sense of belonging" and "the struggle to maintain cultural relevance in the face of gentrification" she has a bit of a point. I have lived in Key West for almost 15 years and have noticed that a lot of gay people have moved from Key West either because it does not offer them what they want in gay life or that the town has become too expensive. But every year there is a brand new bunch of gay men and women who move here for a variety of reasons including the openness and inviting atmosphere of this small little island where people are free to be who they want to be.

Key West today is certainly more gentrified than it was when I first came here as a visitor over 20 years ago. You can't stop the music and you can't stop progress. But you can pick the place you want to live and how you want to live your life. If you are gay and want to live a closeted cloistered life and deny your feelings you can live anywhere. If you want to live an open and free lifestyle your options are more limited. Like a lot limited. Key West, like San Francisco, is one of the places where it is okay to be gay. And I don't think there is a snowball's chance in hell that Key West is on the way to becoming passe`.

Won't You Be My Neighbor?

This is a very dramatic yet comfortable home set in a tranquil and private garden in the Casa Marina Area. The Von Phister Street house, designed by architect Matthew Fowler and built in 2000, has a soaring two-story living space with a wall of glass overlooking the heated swimming pool. There are multiple outdoor living spaces in the lush grounds planned by landscape designer Carl Gilley. There is a gleaming state of the art kitchen with separate butler's pantry. the master bedroom has generous closet space and a wonderful bath which passes through to a tropical outdoor shower. Floors are Egyptian limestone and bamboo. This property is being offered furnished with pieces especially chosen for this home.

The 2014 sq ft house has 3 bedrooms, 2 1/2 baths and sits on a 4488 sq ft lot. It is offered at the price of $1,595,000 or $792 per sq ft. Not a bad price. I know the house and area well since it is across the street from where I live. As I have so often mentioned the location of a house has a big impact on its value. This house is in a very good, quite area with most of the surrounding homes being of equal or higher value. CLICK HERE for more details and photos of the house.

This house is different from many Key West homes because of its avant garde architecture. It is not the typical Key West conch house at all. Instead, it is a very dramatic modern interpretation on island living. The major living areas open onto or look onto the front garden or the rear pool area. Like many Key West homes, the living area opens directly onto the pool area so it seems as though the livingroom extends to the outside. This is the kind of home empty nestor's or a gay couple would find very inviting. It has everyday utility for a couple with the extra living space that can double as guest quarters when the occasion warrants.

Give me a call at 305-766-2642 and let me show you this lovely Casa Marina Area home. Won't you be my neighbor?

CLICK HERE to preview all other Key West mls listings.

Georgia On My Mind--Key West Version

Folks who are familiar with Key West know that it has many unique neighborhoods. The Meadows area is one of those. It is located just east of Old Town and is bounded by U.S. Navy housing to the north, the Garrison Bight Marina to the east, and Truman Avenue to the south. The area is primarily made up of traditional cigar maker cottages, eyebrow houses, two story conch homes, and there is a smattering of buildings that have been condominiumized or made into apartments. There is no commercial activity in the interior parts of The Meadows, but there are commercial operations on the perimeter. I estimate that about 80% of the homes have been renovated at least once during the past 20 years. Unlike Old Town, most of the homes here are owner occupied. The streets tend to be more narrow than the streets in Old Town, so most are one way. (The exception is Georgia Street that is extra broad.)

The compound at 1110-1112 Georgia Street is a 2 bedroom,2 bath home plus a guest house cottage with 1 bedroom and 1 bath plus a detached office structure. The compound is situated on two lots and has off-street parking. Features include a bright Florida room with French doors that open onto a beautiful heated pool & waterfall. The cottage has its own kitchen & living room, tucked away with Dade County Pine walls, hardwood & tile floors and vaulted ceilings. Special details that complete the tropical charm includes brick walkways, private outdoor shower, beautiful covered porches and complete privacy with fencing & lush tropical foliage all located in a wonderful neighborhood.

This lovely 1693 square foot property on a 7197 square foot lot was just listed at $1,395,000 or $806 per square foot. CLICK HERE for more information on this home.

And if you are interested in searching for a home in the Key West or Lower Florida Keys area CLICK HERE to search our mls website. Then give me a call at 305-766-2642 to schedule a showing.






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Fantasy Fest in Key West

Last night was the People's Parade in Key West. Thousands of masked marchers paraded down Fleming Street then up Simonton Street and then came back down Duval Street to showoff their costumes (or lack thereof). This year's theme was Alice in Wonderland and many very crafty people came up with some great costumes in keeping with the theme. But I guess I will more than likely remember the oddball outfits or almost totally nude people more than the clever and expensive costumes. Year after year I am always amazed by the nerve so many people have in showing off their bodies in public. And most that do shouldn't!

As I was driving to the office this morning I had to make a quick stop. The car in front of me made a sharp veer to the left and I stopped to see what caused him to drive to erratically. There near the middle of the street was a turtle making his way across Von Phister Street near the Casa Marina Hotel. I got out of my car and picked up the turtle and put him at the side of the road so that someone less caustious wouldn't snuff him. The pic above is not the turtle in question, but they could be related.


I mention this because there is so much wildlife in Key West. We have chickens, cats and kittens, dogs, iguanas, birds of all feathers, rats (hate them), crabs, raccoons (I saw one in my yard), and all kinds of creatures great and small. And like the wildlife on the streets last night, the natural wildlife is part of the aura that makes Key West a place where a lot of people want to live.

I was in San Francisco a couple of weeks back and one of the places I looked forward to re-visiting was GUMPS. I used to go to San Francisco two or three times a year and I would go to GUMPS every trip. It is a store filled with over-price trinkets and high end art objects that you absolutely cannot live without. Or so I thought. In the old days I would see an item and think I would like to own it. I did buy things there and wanted more things from there. But now that I live in Key West my needs are much different. I have pretty much everything that I need. And if I think about it there really isn't all that much that I want anymore. Life in Key West has made me less acquisitive. We don't have that many national stores, but the Internet provides access to a world of merchandise that can be had in a few days time.

The people in San Francisco were much different than the people in Key West. The "locals" (ha, ha) are very trendy and very well dressed (or down dressed, but not undressed--unless you are in a leather bar). The tourists dress like tourists, but not like tourists dress in Key West. They have their clothes on and they tend to dress up, not down. It seems almost everybody dresses "down" in Key West.

The food prices in San Francisco actually were higher than Key West and I found this surprising. Key West tends to be very pricey, but I guess San Francisco is even more pricey. I did some real estate window shopping and found that housing prices are higher there than here. And the city by the bay beats Key West hands down when it comes to homeless people. I have never seen anything so bad. I have seen lots of beggars in Mexico and Paris, but they are everywhere in San Francisco--everywhere.

There are trade offs we make in life for living where we live and with whom we live. Key West is taking care of my needs at present. I find living with Key West wildlife and laid back atmosphere more pleasing than living in a big city like San Francisco with its' homeless population, high priced restaurants and high priced housing. We have our share of snobs, but thank God there aren't' that many of them. And they usually tend to hang together at any rate. If you stay off the snob guest list you can go far in life in Key West.

CLICK HERE to checkout all current Key West and Lower Florida Keys mls listings. Then give me a call at 305-766-2642 to set up a showing of your new home or business in Paradise.

605 Free School Lane

The asking price on 605 Free School Lane was just reduced from $1,495,000 to $1,395,000 or $856 per square foot. I think this a great buying opportunity for a second home buyer.

The house has got a lot of really great things going for it. First, it is hidden away on a quiet little lane behind the Hotel Marquesa and next door to Nancy's Secret Garden. Those two neighbors mean that the property values will never go down because the adjacent owner will always maintain their property. Second, the house is in good (not perfect) condition. It is used a legal vacation rental and has the requisite transient rental license. Third, the house is almost always rented. That means that it is almost always producing income to help pay ownership expenses when the property owner is not using the property. This is the exact proto-type of house most second home buyers envision when they think of buying a second home in Key West. Well, they may want the house to have an ocean view, but we know that is next to impossible.

When you enter the gate from Free School Lane you first see a lush yard with free form heated pool and then the beautiful 2 story home with an inviting large covered front porch. The first level features a great room, large galley style kitchen, bar area, full bath, bedroom and tile floors. Upstairs are two enormous bedrooms with private baths, vaulted ceilings and wood floors. All rooms throughout the home have french doors opening to the outdoors. You won't believe the views from the second floor. They will make your friends green with envy.

The house is in the heart of Old Town, but it is located on a quiet lane. It produces income to defer the cost of ownership, and it is always rented. It really produces income. It is totally furnished, and it even has a list people with advance reservations waiting to spend their vacation in paradise in what could be your second home. Interested, then CLICK HERE to review more info about the property and then call me at 305-766-2642 to schedule a showing. Since the house is always rented, advance notice is required on all showings.

Raise High the Roofbeam Carpenters

Just listed at 330 Julia Street is a wonderful historic building In the Heart of Old Town, just one block from Duval Street. It was originally built in 1900 as the Old Keystone Church. This unique building has been meticulously renovated and converted into mixed residential and commercial space. There are four units including one huge commercial space & three apartments (one 2bd/1ba, one 1 or 2bd/1ba & a studio). Open cathedral ceilings, original wood beams, antique stained glass windows, hardwood & tile floors, reception area & conference room. A rare opportunity to purchase this exquisite, historical building. The building is 4809 square feet on a 3999 square foot lot. It is offered at $2,400,000 or $499 per square foot.

This building is also just a short walk to the Monroe County Courthouse. Since it has 4 off street parking spaces, it would make excellent law offices or other business offices.

CLICK HERE to checkout all of the photos of this one of a kind building in Key West. There are not a lot of opportunities like this.

409 William Street - The Gideon Lowe House

The Gideon Lowe House at 409 William Street is located within Key West’s National Register of Historic Places in the heart of Old Town. This 2 ½ story historic landmark was originally built by the youngest son of one of the island’s earliest Bahamian settlers (c.1845) and expanded to its current grandeur (c.1866). Today’s completed renovation was overseen by a New York architectural firm, and now is offered as a home of superior design, detail, construction, and history. The lushly landscaped yard haven is perfect for entertaining with an expansive deck finished in exotic Brazilian wood that overlooks the tiled pool. The front second story balcony provides that all important sunset view. The house has two master suites with walk-in closets plus two additional bedrooms. This restored gem sits on a sleepy and palm shaded street within walking distance to the Historic Key West Seaport and it's only three blocks from Duval. And it has 2 off street parking spaces.

The house has been a guest house for the past 20 years or so. I watched the restoration from the street and street and think this house has just about all of the bells and whistles an upper end buyer could desire. The house is priced at $2,999,000 or $1,052 per square foot. The house has been on the market for over six months so now is a good time to test the seller's pricing. If you know what I mean. Give me a call at 305-766-2642 to schedule a showing.

CLICK HERE to checkout all of the Key West mls listings. There has got to be a home or business that you absolutely cannot live without. You have been wanting to buy a place in the Keys for years. Now is the time to act. Prices are down and sellers are motivated to sell. Don't follow the crowd. Lead it.

September Home Sales in Key West

There were a mere 4 single family home sales in Key West (Key West to Shark Key to be exact) for the month of September 2007. The least expensive home was a 3 bed, 2 bath with 1,062 sq ft that sold for $400,000. The average home was 3 bedrooms, 2 baths with 1,731 sq. ft. listed at $1,092,250 and sold at $943,250 . The highest priced home was a 3 bedroom, 4 bath with 2,377 sq ft listed at $1,699,000 and sold at $1,350,000 after 1046 days on the market.

In September 2006 there were 12 single family sales with the lowest home priced at $460,000 that sold for $300,000 after 50 days on the market. The average home was a 3 bed, 2 bath with 1422 sq. ft that was listed at $767,750 and sold at$686,750. The most expensive home had 4 beds, 4 baths, 2108 sq. ft. and was originally listed at $1,550,000. It sold for $1,320,000 or $628 per sq. ft.

In September 2005 (three months before Hurricane Wilma) there were 23 sales. The least expensive home was a 2 bed 1 bath 700 sq.ft. listed at $375,000 that sold in 1 days for $365,000. The average home was a 3 bedroom 2 bath with 1,805 sq. ft listed at $1,095,000 and that sold for $1,110,000. The most expensive home was a 5 bed,6 bath Key Haven home was listed for $3,400,000 and sold for $3,000,000 after 370 days on the market.

September condo sales were better than 2006. This year there were 11 sales recorded with a combined sales price of $9,421,000. In September 2006 there were a total of 6 condo sales recorded in Key West with a combined sales price of only $2,728,000. In September 2005 there were 12 condo sales with sales totaling $8,326,000.

The pics to the right are of a Key West landmark located at 901 Fleming. The older pic is from the 1970's before the gentrification of Key West began. The newer pic is of the building today. It is listed as a historic & visible office/retail building in old Town. It was recently renovated 3 story building, 2 stories office / retail and full (unlicensed) 1BD/1BA renovated apartment on 3rd floor with 5 off-street parking spaces. The building was listed 563 days ago at $1,950,000 and now reduced to $1,690,000. The seller purchased the building in January 2002 for $745,000.

CLICK HERE to perform your own search of the Key West mls website. You can checkout all single family homes and condos for sale from Key West to Key Largo. And you can even checkout commercial properties. Later, give me a call to set up a showing of your potential new home, condo, of business in Paradise. My number is 305-766-2642.