404 Grinnell Street - Old Town Serene Sensation - Key West

404 Grinnell Street - Old Town - Key West

The listing Realtor, not me, describes 404 Grinnell Street this way:

"Sensational designer renovation in the heart of the Historic District. Dade Co pine is used throughout this master craftsmans' four bedroom, three bath home from the kitchen cabinets to the custom cabinetry in the living room. The marble and granite bathrooms have beautiful hardware and details that make this home irresistible. The house opens through tall French doors to the covered porches and Chicago brick patio that surrounds the 35' swimming pool with water wall of coral and shells. Lush tropical plants and off street parking make this the perfect island retreat."

Sensational is an understatement. I fell in love with this house as soon as I walked inside the front door. I showed the property last week and did not take any photos as I hoped my buyers would snap up this great property themselves. The house did not meet their needs, so now I am free to tell my readers what I think about this Key West charmer.

If you live in Key West or have gone on house tours here you may recognize the names of the design team that renovated this home - Blair Gordon and John Alvarado. Their homes are unmistakable. Local architect Guillermo Orozco completed the design team. Guillermo said "Special attention was given to ensure a sense of serenity and privacy. All spaces open out to the back garden and pool area."

Many houses in Old Town rely on Dade County Pine walls to be a major focal point in the interior design. Some designers would have taken the design cue and would have settled on building another quintessential Key West Cottage. This design team too this home in a different direction.

The wood walls and other natural materials used in the design merge the indoors with the outside. All rooms on the ground floor open onto the outside. And what an "outside" it is. To quote Guillermo, "serene".

Two sets of French doors open from the living room onto the rear covered porch where a separate covered outdoor living space looks down upon the pool and gardens. A set of windows open from the kitchen onto the porch. That opening provides a nifty space where the cook can see and hear or be a part of what is going on outside.

Look at the photo at the top of this page and note how you are brought down three steps to the Chicago bricked terrace at the garden and pool level. The third photo shows the transition from the outdoor living space to the garden level from a different perspective. The pool is cool and the greenery is lush, private, and almost exotic.

I borrowed some photos that Guillermo Orozco has on his website that show off some of the creative details incorporated into this home. I borrowed others from the mls listing presentation.

My comments follow.

404 Grinnell Street sits behind a traditional white picket fence and has a gated entry to the bricked off street parking space that leads to the most traditional front door.

The entry is the first signal that this home is really something special!

Note how informal the living room is and how the French doors lead your eyes to the outside.



The custom stairway leads to the two upstairs bedrooms that share an incredible bath.

Back downstairs you will note how the design elements flow between room to room, from stairway to the kitchen as well. The wide window in the photo below is where the kitchen is located. That wide opening sets the tone for this informal living space where again the inside becomes part of the outside.

The master bedroom (pictured below) with vaulted ceiling is just a knock-out!


The Master Bed and Bath are in newly constructed addition at the rear. Each room opens to the outside but it is the bath that makes you want to jump out and into the spa or pool for a late night dip before you go beddy-bye.

404 Grinnell Street is a 2204 sq ft home located on a 4762 sq ft lot. CLICK HERE to see the mls listing details and to view more photos. It is offered at just $1,325,000. This place, Dear Reader, is a great buy at that price. There is just one place like this in all of Key West. There are many great conch houses and cottages. One person or family is getting an opportunity to be the owner of this serene sensation.

Please call me, Gary Thomas, 305.766.2642 if you would like to see this home with a buyer's agent. I am a full time Realtor at Preferred Properties Coastal Realty, Inc. in Key West, Florida.

6 Lowes Lane - Old Town - Key West

Lowes Lane another slow lane in Key West

Just listed, but not by yours truly, is 6 Lowes Lane in Old Town Key West. For the uniformed Lowes Lane is an "almost" one block long slow lane that runs from Grinnell Street toward the east. It runs parallel to Southard Stree to the south and Fleming Street to the north. The most familiar notable landmark is 5 Brothers Grocery which is located southwest corner of Grinnell and Southard Streets. Stop by 5 Brothers any weekday morning for a cup of coffee con leche and listen as all the big wheels, cops, politicians, contractors, and many tourists as they exchange notes on what is going on in Key West.

The listing Realtor describes 6 Lowes Lane this way:

"Situated between Southard & Fleming Street, you will fall in love with this 2 bedroom, 2 bath home on a quiet & friendly lane in the heart of Old Town. It even has a rare find, a detached one car garage! The master suite is on the first floor with an additional sitting area and the 2nd bedroom is up stairs with a bonus room or home office. Nice eat-in kitchen , Dade County pine floors, well & cisterns. Plenty of room to relax on your wonderful lot with a bricked patio surrounded by mature tropical foliage. Fully fenced for privacy and lovingly cared for by the same family for several generations. Room for pool. $799,000."

This 1566 sq ft home sits a fairly large lot (50.25' x 70' or 3417 sq ft) according to the Monroe County Property Appraiser. The home has been in the same family ownership for many years. Nobody ever built a pool, but there is room for one. Plus this home has a garage. In fact, many of the charming houses on this lovely lane have garages and pools. This lane, in fact, is one of the pricier locations in Old Town. I won't give out any names or addresses, but some notables live on this little lane. CLICK HERE to read more detailed info on this home and to view more photos of it.

When I show a house or Grinnell or on the oft chance I always park on Grinell Street and walk my customer down the lane. They just fall in love with this place. It is so picturesque that it is like something out of a Norman Rockwell painting. The houses have all been updated over the years-some more recently than others, but all look just so damned quaint and cute. I found a pic from 1965 that shows 6 Lowes Lane as it appeared then. Compare that view to the pic from this morning. The roof lines are a little different now.

6 Lowes Lane in 1965

6 Lowes Lane in 2010

6 Lowes Lane is located in the heart of the Old Town area. Other than 5 Brother's Grocery mentioned above, there are no commercial enterprises nearby, no guest houses, no apartments or condos. This little block is populated with single family residential homes most of which are of similar size on this lane. The homes on Southard Street to the immediate south are very large by contrast. And very expensive. Those expensive homes will help this location maintain its long term appeal and value. (The big house at the end of Lowes Lane has a street address of on Southard Street. The entrance to the carriage house is located there. Preferred Properties (that's where I work) sold that house in 2006 for $5.5 million in 2005.) All of the neighboring grand Key West Conch houses and small Key West cottages have the same quick access to the Historic Key West Seaport located at the foot of Grinnell Street just three blocks to the north and to the restaurants, nightlife, and attractions on or near Duval Street four blocks to the west.

If you are looking for a storybook cottage like the one at 6 Lowes Lane, please call me, Gary Thomas, 305.766.2642 or contact me by email at kw1101v@aol.com. I am a full time Realtor at Preferred Properties Coastal Realty, Inc. in Key West, Florida. Our office is the exclusive lower Fl0rida Keys affiliate of Christie's Great Estates. CLICK HERE to search the Key West mls database. If you see something you like, let me know. Let me help you find your place in Paradise.

Are You Afraid of Cuba?

700 Block of Duval Street in 1930s when Havana Tours were possible

900 Block of Duval Street in early 1960s when you could still get "there" from "here"

Every once in awhile I have a potential buyer ask me what I think will happen in Key West when, not if, Cuba opens up to the United States again. I always say something like "I don't think it will be a big deal." Cuba is just 90 miles away from Key West. It is closer than Miami.

Key West used to be a launching spot to send tourists to that island nation to our south. I found a couple of old photos (above) that show Havana Tour locations located on Duval Street and a photo of an almost ancient (1930s vintage photo) of a steamship bound for Cuba. It seems like today you can't walk a block on Duval without some huckster trying to sell you tickets to a day trip to the Dry Tortugas or a sunset sail. I don't expect opening Cuba will be much different.

There will surely be some flights out of the recently expanded Key West International Airport (I laugh every time I say that name). But there may also be seaplane rides as well, because there used to seaplane rides before Castro. (Seaplanes actually departed near Mallory Square in olden days headed to Cuba.) I expect there will be slow cruises and hydrofoil's as well. There is a new launching spot built at the Historic Key West Seaport for just such a purpose. That spot is already bringing lots of tourists from the Ft Myers area.

If you think about it, Havana will be an attraction that is something new and different to most Americans. Canadians and Europeans go there all the time. A lot of Key Westers legally go there every year for "educational" purposes. I think many Americans will embrace the idea of going to see the forbidden country. And if Key West becomes the launching spot, so what? Big deal. I think it will be good for businesses here. But I don't think it will bring many more people to Key West. It may divert some dollars that would be spent here which will then be spent there. It's cheaper there than it is here, so I have been told. It's cheaper in New Jersey, too. That doesn't stop people from South Jersey from coming to Key West every year.

The only time I was afraid of Cuba was as a teenager when we almost went to nuclear war over it. That time is over. I am hopeful that sometime in the first or second Obama administration the airways and waterways to Cuba will be opened to Americans. I think potential buyers who fear Cuba may be looking for an excuse not to buy in Key West. They may be the same people who think that housing prices in Key West will continue to fall and that if they wait long enough, they can buy that really big place of a really small price. I have a bit of news for them: the seaplane has left the dock. Prices are on the uptick. Some Key West locations that had lots of inventory have none. I'll be writing more about this in a few days. Fear of the unknown is natural. Fear of the future is irrational.

If you are hoping to buy a place in Key West, please contact me, Gary Thomas, 305-766-2642. I am a full time Realtor at Preferred Properties Coastal Realty, Inc. in sunny Key West. Our office is the exclusive Lower Florida Keys affiliate of Christie's Great Estates. CLICK HERE to search the Key West mls. If you see something you like, please call me or shoot me an email at kw1101v@aol.com. Don't be afraid of the future, embrace it.

Happy Easter Key West

731 Waddell Avenue - Key West - Short Sale

731 Waddell Avenue - Casa Marina Area - Key West - Short Sale

The asking price on 731 Waddell Avenue in the Casa Marina area of Key West was just reduced again. The new asking price is $1,099,000. Compare the current price to the price when this newly constructed home (completed in 2007) was originally offered at $2,750,000 in July 2007. The market has made a correction and this home is aggressively priced to sell. This is a short sale which will require the approval of the lender(s).

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

"Elegant new home situated on a gorgeous corner parcel in the Casa Marina area. Built new from the ground up this home enjoys a modern open floor plan with great room that overlooks a spacious backyard, pool/Jacuzzi & gorgeous stone patio. Built above flood elevation featuring impact doors & windows, hardie plank siding, fenced yard & irrigation system. 4 proper bedrooms with ensuite baths + 5th optional bedroom or den with full bath. 3 bedrooms on 2nd floor each enjoy spacious covered balconies. Tile & wood floors throughout,11 ft ceiling heights, great storage & more. Centrally located where a short stroll will take you to the beach, park, tennis courts, famous Duval Street or fabulous neighborhood waterfront restaurants."

The listing Realtor shows the houses have approximately 2892 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. CLICK HERE for more detailed information and photos.

The size of this home really sets it apart from most 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 designed and user friendly. Each bedroom has its own exterior porch. The master bedroom on the front has an extra large second floor balcony with a partial view of the Atlantic Ocean. The two large second floor bedrooms each have rear balcnies that overlook the large pool and courtyard.


731 Waddell Avenue is located one block north of the Casa Marina Resort in the Casa Marina area of Key West. Higgs Beach, the private beach at the Casa Marina Resort, and Doggy Beach are within a couple of minutes walk. Duval Street is an easy five to ten minute walk as well.

This home has plenty of space for a large family or a buyer with lots of friends. It would make an excellent vacation rental because of the number of full-sized bedrooms, bathrooms, and pool. This home was designed for relaxed Keys living.

Please call me, Gary Thomas, 305-766-2642 or send me an email at kw1101v@aol.com for more information. I live in this area and love it for its convenience and the quality of life this area provides.

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409 William Street - Old Town - Key West

Formerly the William Lowe House - 409 Wiliam Street Old Town - Key West

The historic glass shimmers and reflects the early morning sun

I first wrote about 409 William Street in October 2007 when it was then just listed at $2,999,000. This is how I described the property then:

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 did not sell and it has not been lived in. Everything has been consistently and carefully maintained. It was just listed at the new asking price of $1,795,000. CLICK HERE to view the current mls data sheet and photos. This, dear Readers, is a buying opportunity for someone to buy a truly historic home at a great price.

I walked over to the house this morning to take some pics. I just love this street with all of the old houses on either side. I have added some old time photos to contrast how some houses on this block looked half a century ago with how they look today. That's not that long ago. (I had just graduated from high school. The houses look pretty much the same. I have added several pounds and my hair turned gray. These houses will still be here in a hundred years. I won't.)

The local fresh fish market is located on the corner at Elizabeth and Eaton Streets. The Historic Key West Seaport is two blocks further to the north. Sometimes when I walk the streets of Old Town like I did this morning, I fall in love with this place all over again. Really!

Bahamian House across from 409 William Street in 2010

The same house in 1965

The same house in 1965 but viewed from the corner of Eaton Street looking southwest

405 William Street in 2010

405 William Street in 1965

Another Bahamian house on William Street in 2010

The same Bahamian house as seen in 1965

If you are looking for a perfect place in Key West, please call me, Gary Thomas, 305-766-2642. I am a full time Realtor at Preferred Properties Coastal Realty, Inc.

Casa Palmera - Sold - Key West

I wrote several blogs about 906 Johnson Street and this will probably be the last. The property closed today and I want to congratulate Cory Held of Preferred Properties Coastal Realty, Inc. who represented the Seller and the Buyer on the sale of this incredible property.

CLICK HERE to see what you missed. 906 Johnson Street is located on one of the very best blocks in Key West. The main house sits behind a private gated entry . Gardens surround the house on either side and then wrap around the house at the rear. The two story home has rich wood flooring and European details throughout. The main home includes three guest rooms, a complete mother-in-law suite or servant's quarters, a formal dining area, a formal living room with fireplace and an equally large and gracious family room that overlooks the rear gardens. The home has an extra large galley kitchen, a breakfast room that overlooks the large pool, and a cheerful laundry room that looks out onto the rear gardens as well.

There is a Casita at the southeast rear of the property. It is actually a home onto itself. A separate Writers cottage or office with it's own bath is located at the southwest corner of the property.

Casa Palmera was originally offered for sale at $3,495,000. It sold at $1,749,000. This was the deal of the year. Congratulations to the seller, the buyer, Cory Held, and Pat Labrada at TIB Bank.

There some real good buying opportunities still left in Key West. CLICK HERE to search the Key West mls to find your good deal. Please call me, Gary Thomas, 305-766-2642 or send me an email at kw1101v@aol.com. I am a full time Realtor at Preferred Properties Coastal Realty, Inc. in sunny Key West.

Bank Owned - Compound - Transient Licensed - Key West

726 1/2 and 728 Passover Lane - Old Town - Key West - Bank Owned!

Don't let the location across from the Key West Cemetery scare you!

Just listed - 726 1/2 & 728 Passover Lane in the Heart of Old Town Key West. This is how the listing Realtor describes this two home compound:

"Amazing BANK OWNED property with transient license in prime Old Town location near Solares Hill. Two combined properties offer a total of 3 bedrooms on a 5425 square foot lot, 2 off-street parking spaces, pool and lush tropical grounds. Main house (728 Passover) is a 2/2 with a transient license for great rental potential; guest cottage (726 1/2 Passover) is a 1/1 and may be rented monthly. Must be purchased as one combined property. A Tropical Oasis in The Heart of Old Town Key West."

In 2006 a different listing agent offered the same properties but at the much higher asking price of $2,049,000. This is what he said then:

"Lush. Tranquil. Historic. These superlatives are often used to describe 728 and 726 1/2 Passover Lane. These two exclusive Old Town properties are being offered together creating the perfect island oasis. 728 Passover Lane features a 2BR/2BA with ample LR, DR and kitchen with French doors leading to a custom deck and pool. Plus a transient license. 726 1/2 is a perfect pitch compliment offering a 1BR/1BA with separate loft space, galley kitchen, LR and hot tub. Both homes are nestled in a large, exotic tropical garden with off-street gated parking for 2 cars. Both homes have been recently tented and painted. Properties have averaged over $100K in gross rents for each of the past 4 years."

I had the opportunity to see these houses yesterday afternoon. I never had anyone who wanted to look at them when they were priced so high. The listing agent said he had about 60 people attend his open house yesterday. And at the current asking price of $975,000 I can see why.
CLICK HERE to read the mls listing info and view accompanying photos. But read on.

I sent an email late yesterday to a couple of my buyers looking for a place in Old Town with a Transient License. I think this property has some real upside potential as far as price appreciation and income production. This is my impression: both houses look like they were redone in the late 70s or early 80s. The houses are hidden behind an ugly fence that needs to go. So do a lot of the overgrown trees that make the exterior so dark. The grounds are very large but seem overwhelmed by all of the foliage.

The exterior has way too many canvas awnings in lots of places. The front entry at 728 Passover has an awning that is totally out of character for a house in Old Town. My suggestion is to edit the outside and develop a new land use plan that builds on how the houses relate to the street view, the private view in the rear with the existing pool, spa, and entertaining areas.

The inside has some very attractive nooks and crannies and very inviting features. But the spaces are a bit confusing. I had to go outside the front door of 728 to walk around the house past the pool to find my way into 726 1/2. (I later discovered I could have gone in the front door, but there were so many trees I missed seeing the entry.) The kitchen and dining area at 728 Passover are really sweet. The living room and downstairs bedroom are large but both seemed so dark because of the overgrown trees and canvas awnings. The house at 726 1/2 is laid out most oddly in my opinion. I am not "dissing" this place. I think it would be a great buy. But somebody is going to have to do some work and spend some money to spruce up this compound. The time and money should reap big dividends.

This property is located directly across the street from the Key West Cemetery. Don't let that spook you. This is a great location. Most of the properties in this area are either single family homes that are owner occupied but several are rented as legal vacation rentals. Parking is never as issue even though parking is only allowed one side of Passover Lane. I am not being cute when I say the area is quiet. It is. When the tourist parade stops around 5:00 PM, this area is super quiet. If the trees on this property were thinned out, the ugly fence replaced by a proper white picket fence, and both houses were painted a crisp white and shutters added, this two home compound would pop.

If you would like to see these properties, please call me, Gary Thomas, 305-766-2642. I am a full time Realtor at Preferred Properties Coastal Realty, Inc. in Key West.

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Irreplacable - 1010 Elgin Lane - Old Town - Key West

"Because Elgin produced so many watches and produced so many spare parts, they can still be easily bought and fixed, so even a 100 year old Elgin can be used, with care, on a daily basis. While mechanical watches can't compete with quartz watches for accuracy, there is something about having a watch that ticks that a quartz watch just can't replace." The Elgin Watch Collectors Site

I got an early preview of a new listing at 1010 Elgin Lane which was just listed in the Key West mls. I took some pics and thought I would share some with you here. I had been to the house before and snapped a pic that I have used as my identification at the end of some of my blog entries. You will see it at the bottom of this page. Whenever I see a bit of whimsy like the house number on the gate, I know from past experiences to expect more of the same on the inside of the threshold. Join me, please.

Elgin Lane is one of the slow lanes in Key West. It runs westerly two blocks from White Street to Grinnell Street. It is a one way only lane because it is so narrow. Many of the houses on Elgin actually front on Eaton Street, but some are located on postage stamp size lots of only 40' depth or so. The houses on the south tend to have larger lots in both width and depth. There are some remarkable little houses in these two blocks. Even if you are not going to buy one, you really need to walk down this lane. Most of these homes are fulled with full time Key West residents. When you take the time to walk down the lane, you will see how much the people that live there love where they live.

The front yard sits behind a smallish white picket fence with minimalist but very attractive yard. The first pic I took was of the front porch. It is a place to sit and read and watch the occasional neighbor or stranger pass. There is adjacent off street parking for two cars.


As soon as I walked passed the threshold and entered I "got it", the house, even before I had seen any other room. It was like "Wow!" this is gonna be great. And it was.

In olden days the owners might have called the front room the parlor. I could easily see this house had Dade County Pine walls and ceiling trimmed with a small crown molding. As I moved from room to room I noticed the floors were wood but some had a different finish or look. That made me determine that the way the rooms were used and furnished played off of the floors and the existing Dade County Pine. (These are real wood floors with wide pine boards. The patina shows the rich history of this old house.) The windows were old and original and not those new replacements that are made to look old. These are the real McCoys. A side hall took me to the rear where I was greeted by a sweet breakfast nook. It is part of the large kitchen that takes up the rear 1/3 if the house.The kitchen is a sawtooth addition to the main house. The kitchen is so simple, but it looks like something you might see in a Ralph Lauren Home Furnishing Store. What you don't see stainless steel or marble or granite. Thank God. The kitchen window over the sink opens onto a bar on the other side where there are a couple of bar stools that sit under a canopy. The kitchen cabinets look ancient but aren't. The room looks like it evolved over time. It didn't. The kitchen is a work of art.

The master bedroom is located downstairs and I forgot to take any photos of it. My bad! The bath is located there.

Then there is the dining room. It's another Ralph Lauren moment. Three doors enter into this former covered porch: one off the master bedroom, a second off the living room, and a set of French doors to the rear that open onto the rear living area. Look at the pic below and notice how the floors mimic the light colored wood deck on the outside. Notice the window outside and the bar stools beneath. You understand how the house operates and how things flow. Purposefully.




When you first enter the house you cannot help but see the steep old staircase located midway toward the breakfast nook. Upstairs you will find a shared bedroom area with two twin beds located on opposite walls with a nice little desk situated between. A separate bedroom is at the rear. If you look carefully you will see there are four scuttles (hot air escape hatches used in old houses-this house was built circa 1906). The house has air conditioning today. There is a large bathroom accessible by each space. While you are looking carefully, look at floors again. Another "Wow!" The floors and the little desk are another Ralph Lauren moment. Some people spend thousands of dollars to create looks like this. This house is filled with them-at no extra cost.

I only got to see everything that I just wrote about after I was made to see the outside. Now you will see what I saw first. There is a 3 0ver 5 glass pane door that leads from the kitchen to a covered rear dining area where you might take most of your meals. But what you really notice as soon as you peer out that door is a giant folly. And what a folly it is. This is the perfect place for a writer to write, a artist or create, a thinker to think, or a lover to - no that is the guest cottage on the opposite side of the pool.

The guest cottage is a two room symphony in how to make sweet love. I cannot imagine any place better to be with the person you love most. This room is so simple and comfortable. The compact size, wood walls, ambient light, and privacy invite intimacy. I guess you could travel to Bali and rent a place in a glen overlooking a deserted beach and find something better. Perhaps. But why bother when you can have your own Bali Hai moment every day.

The home at 1010 Elgin Lane is offered at $849,000. (Furnishings are not included in the sales price but may be purchased separately.) This is not my listing, but you can tell I really like this house. And you will too, but only if you promise not to put in stainless steel and new granite counter tops. If you would like to see this property, please contact me, Gary Thomas, 305-766-2642 or send me an email at kw1101v@aol.com. I am a full time Realtor at Preferred Properties Coastal Realty, Inc. in Key West. Our office is the Lower Florida Keys exclusive affiliate of Christie's Great Estates. I would not call 1010 Elgin Lane an estate, but baby this place is really great. Just like a hundred year old Elgin watch, there is something about this place that just ticks.

Key West Bank Seized & Sold

The Office of Thrift Supervision seized Key West Bank, FSB, at the close of business on Friday, Marcy 26th. The OTS then sold many of the assets to Centennial Bank's parent company, Home BancShares Inc., which acquired the former Marine Bank, about a year ago. CLICK HERE to read the article as it appears in KeysNewsNet.com.

I think about everybody in town was expecting the seizure. There were some very nice people that worked their. I hope they find new jobs. Let's see how Centennial Bank goes about trying to sell some of the many REO assets and managing the many problem loans it acquired. I used to do this stuff for a living many years ago. This might be a small town, a small bank, a small amount of assets as compared to what happens up north in America, but how our hometown banks manage the sale and disposition of troubled assets affects this small town in a very big way.