810 Terry Lane - Short Sale - Key West

The guess work is over. The bank has disclosed the short sale price it will accept on 810 Terry Lane is $610,000 or $323 per sq ft.

Our office had the listing on this house a year ago when it was offered at $1,249,000. It did not sell. It still has not sold. A different office now lists the property. CLICK HERE to see the current mls listing info. But read below for a few more details that the current agent has omitted. (Not pointing fingers!)

Gorgeous, brand new home located one block from the lighthouse in the heart of Old Town. This home offers 2000 sq. ft. of luxury living loaded with top of the line finishes. Three large bedrooms, three fabulous baths, a gourmet kitchen featuring a Thermadore 6-burner, stainless gas range top with hood and matching appliances. The floors are oak, the ceilings tall and the home drenched with natural light from the large windows and French doors. The master suite is spacious and boasts huge walk-in closets, private balcony, bathrooms with double vanity,granite counter top, slate tile floors and good storage. Click on each photo to see room or space: LIVINGROOM, KITCHEN, BEDROOM-1, BEDROOM-2, BATHROOM, POOL, POOL VIEW.

810 Terry Lane is located two blocks west of Duval Street and just south of Petronia Street. I took a couple of exterior photos this morning so you could see the neighboring houses. The house next door to the south with the Avanti in the driveway CLICK HERE is a duplicate of 810 Terry Lane. There is a real cute cottage across Terry Lane to the east CLICK HERE. The Key West lighthouse is one block to the south CLICK HERE - but not my photo.

This house in my opinion is a lot of house for not a lot of money. I remember a year ago I had some buyers that wanted to buy a bank owned property in the same neighborhood (only a few blocks south). That house had no parking; it had been remodeled and not remodeled very well. Let's say it still had issues. 810 Terry Lane is new in 2007 construction. Now that we know the price the bank will accept, the guess work is gone and all you need to do is write the offer. If you would like to see 810 Terry Lane, please contact me, Gary Thomas, 305-766-2642.

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Southard Street Selections - Old Town - Key West Properties

Just listed (but not by me) 530 William Street in the heart of Old Town Key West. This house was purchased in 2008 after just 21 days on the market. Perhaps the great location and beautiful architecture had something to do with the property selling so quickly.

This is how the listing Realtor describes 530 William Street:

"Elegant Historic Home located in the most desirable area of Old Town. Large spacious rooms in main house. Downstairs has Formal living dining, eat-in kitchen, 2 bedrooms 1 bath. Upstairs also full kitchen 2 bedrooms and 1 bath. Two meters with seperate heating and cooling units. Easily converted back to a grand single family home. Also, included 725 and 727 Southard Street cottage. Each is Living room, 1 bedroom 1 bath and kitchen. total of 4 units. Grand home in great condition. Well maintained. Must see to appreciate."

530 William and the adjacent two cottages CLICK HERE occupy the northwest corner of William and Southard Streets. The listing Realtor states the properties have 3276 sq ft of living space and sit on a 4455 sq ft lot. There are six bedrooms and four bathrooms. The asking price is $1,645,000 or $502 per sq ft. There is no pool nor room for a pool. And there is no off street parking. CLICK HERE for more information on this property and to view more listing agent provided photos.

The big old Great Dame across the street at 730 Southard Street CLICK HERE is still on the market. It is now priced at $1,490,000 or $525 per sq ft. It is a fixer for sure. The house size and lot size provide ample opportunity for creating a great living space for the rest of this new century. This is one of the great Key West houses and it is truly a buying opportunity.

The cute as a button cottage at 723 Southard Street CLICK HERE is also still on the market. It has been reduced to $749,000 or $681 per sq ft. This two bed twp bath cottage is just too sweet and should meet the needs of a buyer who wants a Key West retreat complete with pool and charm. No "fixing" required here.

And the lovely recently renovated two bed two bath cottage at 712 Southard Street CLICK HERE has been reduced to $829,000 or $808 per sq ft. The large pool and rear living area CLICK HERE is just awe inspiring.

Each of the houses in this block offer something a bit different and may appeal to different buyers. A buyer wanting income to help pay for the cost of ownership may be attracted to the 530 William Street assemblage. A buyer that wants to make a mark on Key West surely would be interested in 730 Southard Street. Someone wanting a cozy Key West cottage with everything done just might fall in major love with 723 Southard Street. And that buyer who wants a large pool and total privacy could just as easily fall madly, crazily in love with 712 Southard Street.

Tomorrow I am going to write about the real estate sale for July and give my opinion, such as it is, about what has happened recently and where I think the market may be headed. If you are truly looking for a deal in Key West, consider the four properties mentioned here today. They share a great common location that is convenient to everything that Old Town Key West offers.

Please give me, Gary Thomas, 305-766-2642 a phone call, or e-mail me at kw1101v@aol.com. I am a full time Realtor at Preferred Properties Coastal Realty, Inc. We are an affiliate of Christie's Great Estates.

Major Casa Marina Short Sales - Key West Florida

I have written about the two new houses located at 727 and 731 Waddell Avenue in the Casa Marina area on several occasions. The houses were built in 2007. 731 Waddell Avenue is located at the corner of William Street and 727 Waddell Avenue is located next door to the west. Both properties are now each offered at the short sale price of $1,799,000 or $642 per sq ft.

This is how the new listing Realtor describes 731 Waddell Avenue:

"Casa Marina Beauty...circa 2007, this solidly built home features impact windows, hardie plank siding, a custom kitchen, double decks off the front and back, first floor bedroom and bath, and a generous great room to stretch out and relax. The second and third floors all have bedrooms with bathrooms ensuite. Sitting on a large corner lot with plenty of convenient off-street parking, a heated pool and spa with an elegant water feature and a mature landscaping presentation all contribute to this terrific home and the Key West lifestyle. This is a potential short sale and may be subject to 3rd party approval."

Each house is virtually the same except for the floor plans which are flip-flopped. The listing Realtor shows the houses have approximately 2800 sq feet of living space on a 5000 sq ft lot. Five bedrooms and five baths are unheard of in Key West. These are houses that can actually accommodate owners with large families or friends. No more sleeping bags or futons will be required. No more over-crowded bathrooms to endure.

The size of these two homes really set them apart from other new construction in Key West. The physical size and interior living space is bigger than just about any other new property in all of Key West. The lots are large. The interior and outside spaces are well thought out and are user friendly. Each bedroom has its own exterior porch. CLICK HERE for more detailed information on these properties and additional photos.

The beaches are one block away and Duval Street is a five minute walk to the west. I took THIS PHOTO and THIS PHOTO this morning. Both pics were taken one block away from 727 adn 731 Waddell. Theses houses are close to everything but far enough away for you to enjoy the peace and quiet of the Casa Marina area.

Please call me, Gary Thomas, 305-766-2642 or email me at kw1101v@aol.com. I am a full time Realtor at Preferred Properties Coastal Realty, Inc. We area an affiliate of Christie's Great Estates.

What Are You Doing the Rest of Your Life? Will You Spend "It" in Key West?

When I found the photo above of a ship coming into Key West I was reminded of one of my very favorite songs ever, Michel Legrand's "What Are You Doing the Rest of Your Life?". Of course the lyrics deal with one's desire to spend the rest of his or her life with that special someone. But if you think about the lyrics and add in how to spend the rest of your days, that melody may evoke that yearning that so many returning visitors to Key West have: to spend the rest of their lives in Key West.

We have our problems in Key West. If you follow the politics in any of the Key West newspapers, you know that our politics are always interesting and that some of our politicians even end up on the crime page. We have our bouts with bad weather. But most of the time the weather is just wonderful. When I tell people I actually enjoy the rain, they think I am nuts. But most locals enjoy the occasional bad days. Conch Trains and tourists on motor scooters honking their horns are my biggest annoyance in life. If you live someplace with problems worse than crooked politicians, an occasional rainstorm, or tourists who toot their own horns too often, maybe you should consider buying a place in Key West where you can spend the rest of your life.

I fell in love with Key West on my very first visit. It took me nine years to eventually buy my first place. I regret that it took me so long because each year I wasted trying to get the "best deal" prevented me from achieving my ultimate goal. When you consider how many years you may really have in the "rest of your life", how many thousands of dollars is it worth to you to get to the point where you can make your move here?

When somebody young and famous dies accidentally or because of some disease, I remind myself how fragile life is. When you are gone, you are gone. That is it. You get one shot. If you are religious maybe you get a second shot in heaven. But your shot on earth is over. If you are fortunate enough in life to be able to make choices, where will you spend "All the nickels and the dimes of your days"? Will it be someplace cold up north in a city filled with people, cars, commotion, smog or whatever? Or will it be in little Key West where you can walk from the Gulf of Mexico to the Atlantic Ocean in about 30 minutes? Or where you can watch a dog ride a bike or some zany Key West character living his life out loud.

CLICK HERE to search the Key West Association of Realtors MLS database. If you see a property that interests you, please call me, Gary Thomas, 305-766-2642. Let me help you make "the reasons and the rhymes" of your search to spend the rest of your days in Key West.

922 Thomas Street - Bahama Village - Key West

The Old House at 922 Thomas Street in Bahama Village needs a new owner. It needs an owner that has vision, some cash, and a good contractor. And, oh yeah, a green thumb would be really useful. CLICK HERE to see the listing info and a couple of listing photos.

922 Thomas Street is a very modest two bedroom one bath house with 821 sq ft of living space. There is some new vinyl siding on the outside and a few windows have been replaced. But not all of the windows match, and though the house is perfectly usable as is, it could be so much more. The property is priced at $350,000 or $426 per sq ft.

Before you start to chime in and saying "Gary you have lost your mind!" consider this: the lot is huge for Old Town (58' frontage X 139' depth), or 8004 sq. ft. CLICK HERE to view a not so good photo that shows the depth of the property. There are two fences. The first fence at the back of the house is covered in green vines. The actual property line extends another 50 or 60 feet beyond that fence to the barely visible fence at the the very rear. The lot is enormous and the property size is where I see potential. There is plenty of room to greatly expand the current house, add a pool, put in some off street parking, gate the driveway and put up a white picket fence in front. But it is that space to the rear that just really intrigues me. There is room for a corn crop for now and hold the ground for future development.

Also you need to consider the neighborhood. I took some photos of the adjacent properties to help you both recognize the location and to see who the actual neighbors will be. Next door to the south CLICK HERE is the Bethel AME Church on the corner of Thomas Street and Truman Avenue. There are two single family houses just west of the church CLICK HERE whose small backyards abut the rear portion of 922 Thomas. They currently have no room for a pool. But someday the owners of those houses may really wnat to have a pool. The property immediately south of 922 Thomas Street CLICK HERE is a smartly remodeled home that is owned by a judge. (Notice the bricked driveway.) There are three additional properties directly across the street that are equally smartly remodeled. CLICK HERE, CLICK HERE, and CLICK HERE to see these properties. Each of these properties are as nice as almost any property you would see in Old Town. At least half of the homes on this block have been nicely redone.

I know there are buyers out there looking for project properties. 922 Thomas Street has a lot of upside potential in my opinion. The house is tenant occupied so we need at least 24 hours notice to schedule a showing. I think this house is definitely worth a look. If you would like to see this house, please call me, Gary Thomas, 305-766-2642. I am a full time Realtor at Preferred Properties Coastal Realty in sunny Key West, Florida.

1115 Georgia Street - Key West - Priced to Sell

The modified eyebrow house at the corner of Catherine and George Streets was just put back on the market after taking a bit of a rest during the price adjustment in Key West housing. The house was listed on and off for a couple of years and was even featured on one of those "help me swell my house TV shows". The "how to guy" is that overly big muscle guy with the shaved head. He painted some rooms, moved some furniture, and re-located the owners' parrot to the rear deck for the final "reveal". None of his tricks worked.

Today 1115 Georgia Street is priced to sell at $599,000. This is NOT a SHORT SALE.)The 1992 sq ft house sits on a corner lot of 3894 sq ft on the eastern edge of Casa Marina near the southern edge of Old Town. The main part of house has 2 bedrooms and baths plus what the listing Realtor calls a third "satellite bedroom/bath" (I'd call it a guest unit). The house has a real nice pool and covered off street parking. All of this is available for only $599,000 or $301 per sq ft. This is how the listing Realtor describes Georgia Street:

"This historic home sports 3 bedrooms and 3 baths. The third bedroom and bath is a satellite bedroom/bath, which is very private and access is up the outdoor spiral stair. Centrally located at the corner of Georgia & Eliza, the entire property is fenced in for your privacy. With a pool, car port and lush landscaping."

Let me tell you why I think this house did not sell before and why it is a good value today. Besides the obvious price difference (previous price was $1,075,000), the biggest detractor may be the neighborhood. There is a church across the street and the White Street shopping area is a block away. So people who go to church are present one day a week or so. Big deal. The church members aren't there partying all hours of the day and night.

Faustos Food Palace(complete with on-site genuine butcher) is a block away as are several coffee shops, a couple of gyms, dog store, tile store, paint store, hand job car wash, a couple of gas stations, and the best chicken in all of Key West at the Quick Mart. Bayview Park CLICK HERE is one block to the north. It has tennis courts, kids playground, an old fashioned bandstand, and lots of grass and trees where you can walk your dog and meet your neighbors. Elementary and middle schools are withing walking distance. Old Town is a quick bike ride and the shopping centers are an easy jaunt. The ocean is a clean shot down White Street about six blocks to the south.

CLICK HERE to see the photos of 1115 Georgia Street provided by the listing Realtor and get some more details on the property. Better yet, please call me, Gary Thomas,305-766-2642 to schedule a showing of this house. It is priced to sell now. Compare it with other houses similarly priced and you will appreciate the value I now see in this house.

Shangri-La in the Florida Keys - SOLD

James Hilton created the mystical place called "Shangri-La" in his novel Lost Horizon. That term has become synonymous with paradise; a totally remote utopia isolated form the rest of the world.

Yesterday, Laurie McChesney of Preferred Properties sold Shangri La in the Florida Keys for $3,250,000. CLICK HERE to see the property Laurie described this way:

"Shangri La in the Florida Keys! This secluded Sugarloaf Beach estate sits on five lush acres & offers a private, stunningly beautiful white sand beach. (460' of ocean/beach frontage)The main house combines island style and interior comforts with the natural beauty of the outdoors. The master bedroom & one guest room open to wrap around decks and offer panoramic vistas of the ocean, palm trees and the beach. Soaring ceilings with a dramatic artistic sculpture anchors the living area. This estate offers a relaxing yet elegant island lifestyle. Ancillary buildings include the guest room/office, a double garage and an equipment pavilion all connected by wooden covered walkways. One of a kind!"

If you are hoping to buy your place in Paradise CLICK HERE to search the Key West Association of Realtors MLS database. There are still some nice homes left for sale but not as many as there used to be. Time waits for nobody, not even in Paradise. If you see a property that you like, please consider working with me, Gary Thomas, 305-766-2642. I am a full time Realtor at Preferred Properties Coastal Realty Inc. Preferred Properties is an affiliate of Christie's Great Estates.

Congratulations, Laurie!

Will "History" Repeat Itself ----- 1124 William Street - Key West

1124 William Street just got re-listed for $1,200,000 or $671 per sq ft. It is a new house constructed in 2007 at the corners of Amelia and William Streets just south of the rear of the church grounds of St. Mary's of the Sea Catholic Church and School. I mention the location for starters because it is the location, I think, that is driving the new pricing on this house and the fact that an almost identical house at 929 United Street (listed by Preferred Properties) SOLD on June 15, 2009 for $1,000,000. Will history repeat itself at the 1124 William Street house?

1124 William Street was originally listed at $1,950,000. 929 United Street (a bit larger 1900 sq ft house on a somewhat larger lot) also originally listed at $1,950,000.

The listing Realtor describes 1124 William Street this way:

"This gorgeous home was recently completed in 2007 with no expense spared. The property features High ceilings, detailed crown molding, Brazilian Cherry Wood Flooring, Viking Stainless Steel Appliances, Granite Counter Tops and a Full Laundry Room. The property comes with wrap around porches, great for reading and relaxing in the tropical island breeze and is only steps away from Duval Street."

I suggest you CLICK HERE to see photos and get specific details on 1124 William Street. Now compare, CLICK HERE the specific details and photos of 929 United Street).

929 United Street is history. The buyer got a terrific bargain in my opinion. It is the same basic house as 1124 William Street with those same uber-expensive tiles, light fixtures, Viking appliances, and other amenities that so many buyers want. All of the bedrooms in each house have individual private porches or balconies and private baths. Both houses were built on corner lots and have similar outdoor landscaping features including the white picket fences, lush landscaping, sprinkler systems, outdoor lighting, and beautiful pools. Both are challenged a bit by their location. United Street is busy in the daytime and is near a school. 1124 William Street on the other hand is on a real quite street but the view from the house is of an ugly six foot CBS fence that encases the St. Mary's parking lot and school playground. CLICK HERE and CLICK HERE to see.

If you would like to see 1124 William Street please contact me,Gary Thomas, 305-76-2642 or e-mail me at kw1101v@aol.com to schedule a visit.

3632 Sunrise Drive - Key West, Florida

I moved to Key West a couple of days before Christmas in 1993. I had been here many times on vacation but usually hung out around familiar Old Town locations. I got invited a party at a fancy Casa Marina estate on my first visit, but that was my one and only foray outside of Old Town. A few days after Christmas I made my first visit to one of the homes on the Riviera Canal. The house was on the Old Island Restoration Foundation annual Christmas House Tour. I had to use a map to find the place. I got there and was absolutely amazed.

Today's blog is not about that house. Instead, I want to share information on 3632 Sunrise Drive which the listing Realtor describes thus:

"Prime Riviera Canal location with sensational views of the protected mangroves. Privacy and location features a poolside cabana and wet bar, 15' X 30 heated pool, privately situated hot tub with canal views surrounded by beautiful palms and gardens. The 4 bedrooms and 3 baths include a guest bedroom and bath and a second story master bedroom with views of the canal a large walk in closet and beautiful bath. Kitchen with walk in pantry and loads of storage with access to the outdoor covered bar b que area. Tile and wood floors throughout, 3 zones of central air, covered car port, two gated driveways, glorious gardens all around with bronze landscape lighting and an 8 zone irrigation system. Driving by won't do."

CLICK HERE to read more details, see lots of photos, and see where 3632 Sunrise Drive is located on the hot-linked map. If you do a Google Map search, you will see that the land across the Riviera Canal is mangroves. That means there are no nosy neighbors to annoy you. And there never will be. The mangroves are protected. CLICK HERE to see the Riviera Canal as it flows behind 3632 Sunrise Drive to the right. CLICK HERE and CLICK HERE to see what the mangroves and wildlife that inhabit the mangroves may look like. CLICK HERE to see how one nearby Riviera Canal owner spent this morning. Those mangrove views at sunset are what amazed me the first time I saw them. And they do the same thing each time I see them.

3632 Sunrise Drive is a 2448 sq ft ranch with 4 beds and 3 baths situated on a 9794 sq ft lot (97.5'[canal frontage] x 100.48'). The house is priced at $1,395,000 or $570 per sq ft. The new price is a reduction from the previous $1,575,000.

If you like 3632 Sunrise Drive you might also want to checkout the house right next door at 3700 Sunrise Lane. CLICK HERE to see the $2.3 million house next door.

CLICK HERE to see the home that local architect Matthew Stratton of Bender & Associates designed and that was recently featured in Architectural Digest magazine. The point of looking at the this house is to appreciate that all three houses have that same priceless mangrove view, are located less than 500 feet apart, but that 3632 Sunrise is offered at a more affordable price point.

If you want a nice house with a place for your boat in Key West, please call me, Gary Thomas, 305-766-2642 to schedule a showing of 2532 Sunrise Drive or 3700 Sunrise Lane. They are priced just a little under a million dollars apart, but they are located next door to each other. And remember the view is the same as that big house in Architectural Digest.

809 Sawyer Alley - Old Town - Key West

I learned something new this morning. I have been mistakenly calling 809 Sawyer Alley "809 Sawyer Lane". I checked the Monroe County Property Appraiser's website CLICK HERE to find out the details on this house and that is when I learned the correct name. There is no street sign to advise what the name is.

The Property Appraiser's records show the house sits on a nice 50' x 53'(2650 sq ft)lot. The three bedroom three bath house has 1650 sq ft of living space on two floors and was built in 1919.

The listing Realtor describes 809 Sawyer Alley (Lane) this way:
"Historic Key West home located on quiet lane just steps from the Historic Seaport. This 3 bedroom, 3 bath home features include Dade Pine walls, hardwood floors, fireplace, pool and an upstairs balcony with treetop views. Walking distance to all Key West attractions and restaurants. Great vacation home with large monthly rental income potential."

I have shown this lovely home many times over the years and it is one of my favorite Key West houses. The asking price was recently reduced to $995,000 or $692 per sq ft. The asking price is less than the owner paid, but this is not a short sale. But I do think the price is a signal that the owner is ready to sell it. CLICK HERE to see more details and photos of this house.

The house is located at the foot of the Historic Key West Seaport in an area filled with unique homes built by ship chandlers or craftsman. Those houses were built to last and they did. Some of the houses are big and boastful. Others are meek and unpretentious. They exist sometimes side by side. CLICK HERE to see the simple cottage on the corner of William Street where Sawyer Alley is located. That cottage is next door to 809 Sawyer Alley which appears to the rear of the photo. (The listing Realtor told me the owner is a little old lady who has lived in the cottage for years. That cottage is her castle today and will be somebody else's dream cottage in the future.)

The house has a required white picket fence and it even has a bricked driveway. The front porch is most inviting, as is the one of a kind front door with round window. Inside the house your eyes are drawn to the right where the really functional fireplace is located. And just beyond is the stairway to the second floor bedrooms.
At the back of the living area is a doorway to the downstairs bedroom with en suite bath. Off to the left is the Florida room with French doors that open onto the bricked deck and large swimming pool. Back inside is the kitchen that looks to have been updated in the mid 1990's. It works and looks fine. It is the one thing a new owner might want to fuss with. But "fuss" is the operative word because it works fine as it is. The present owner has maintained this house very well.

There is an exterior spiral stairway to the second floor deck and interior "landing". There are two bedrooms (each with bath) on that floor. The views of the historic neighborhood are just great.

The pool is totally private. And there is even a private outdoor shower. That is a "must" in Key West.

This house does not have a transient rental license. But a new owner could rent it as a vacation rental on a monthly basis. It has what just about every returning seasonal renter wants: quiet, location, cleanliness, a beautiful pool, off street parking, and charm for days. Never underestimate the value of charm. Why come to Key West to stay in a the equivalent of a cardboard box when you can stay in a house the oozes charm.

CLICK HERE to see some photos I took of the exterior of the house and the neighboring properties. 808 Sawyer Alley or Lane is so quiet and unassuming you can't find it without a map or a Realtor like me, Gary Thomas, 305-766-2642.