727 Waddell Avenue - Short Sale - Key West

727 Waddell Avene in the Casa Marina area of Key West

I have written several blogs on the two new homes at 727 and 731 Waddell Avenue in the Casa Marina area. The houses are nearly mirror images of each other. The layouts are reversed and some interior finishes are a bit different. Otherwise, they have the same basic design and construction elements, amenities, and upscale Key West location. The original asking price for each was $3,300,000 in October 2004 (pre-construction price). Over a protracted time period both became short sales. Today the Key West mls revealed that 731 Waddell Avenue sold at $900,000. The selling agent is Cory Held from my office. Congratulations to Cory and her buyers.

Today's blog isn't about what sold, however. Instead, it is about the remaining house at 727 Waddell Avenue that is still available. CLICK HERE to checkout the mls datasheet and the listing photos. It is offered at $999,000 as a short sale.

The main level of 727 Waddell Avenue has a formal entry hall that leads to the great room, kitchen and informal dining area located in the back one half of the house. Up front there is a den or fifth bedroom with bath that also serves as a main level guest bath. A beautiful stairway leads to the second floor landing. The master bedroom is on the second floor at the front of the house. The second floor also has two additional bedrooms on the rear. Each bedroom has en-suite baths. All three bedrooms on this floor have decks. The laundry room is also located on this floor. There is an additional (fourth) bedroom and bath on the third floor. This is not a tiny space, either. Five bedrooms and five baths are unheard of in Key West. This home 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.

Formal entry that leads to the great room and pool beyond

The size of this home really sets it 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 lot is very large. There is a big grassy front yard with white picket fence and off street parking for more than one vehicle. The interior and outside spaces are well thought out and are very user friendly. The front and rear landscaping has matured nicely. This property has an exceptionally large and beautiful pool plus a spa. The deck is very large and provides lots of room for sunning or entertaining.

Extra large pool and spa

Large grassy yard and white picket fence

This home has a limited view of the Atlantic Ocean which is a little more than a block away. Higgs Beach a five minute walk to the south. And Duval Street and all of the excitement is a five minute walk to the west. Louie's Backyard is perhaps two minutes away by foot. Key Westers can buy beach club memberships at the Casa Marina Resort which provides full use of all facilities including the gym, spa and also get discounts on food and beverages.

Casa Marina area is close to everything but far enough away not to be in the middle of it all. The streets are broad and quiet. The trees are tall and announce the sea breezes as they pass over the island. Homeowners can be anywhere they need to be within a few minutes foot, bicycle, scooter, or car.

Now that we know what 731 Waddell Avenue sold for, we might imagine that 727 Waddell Avenue could sell for about the same price. If you are looking for a large home in Key West and the size and amenities of 727 Waddell Avenue meet your requirements, please contact me, Gary Thomas, 305-766-2642. I am a full time Realtor at Preferred Properties Coastal Realty, Inc. in Key West, Florida. I live in the Casa Marina area and love it. You are close to everything but located far enough away that you are not a part of it on a daily basis.

Preview

1006 Southard Street - Old Town - Key West

Just listed (by a new Realtor and at a much better price) 1006 Southard Street, Old Town, Key West. This charming property was previously listed by an agent in my office at $869,000 in 2007. Today's new price is an incredible $599,000 or $504 per sq ft.

1006 Southard Street is a charming renovated cottage in the historic district. The cottage is secluded down a shady bricked walkway. There is a bedroom and bath downstairs and the master bedroom with ensuite bath is upstairs. French doors open from the bedroom, living room, and spacious vaulted kitchen to a decked swimming pool. This cottage home has lots of Dade County Pine and historic details, yet it has been modernized with a new roof, well-appointed kitchen and pretty baths.

The house is 1188 sq ft and sits on a 2833 sq ft lot. The house sits to the rear, not the front, of Southard Street. So you cannot see the house from the street. That adds additional privacy for the homeowner. You are a five minute walk to Duval Street or the Historic Key West Seaport. And you are a two minute walk to Five Brothers Grocery and Sandwich Shop where you can get your morning con leche, Michael's Restaurant where you can get your steak fix fixed, or Mangia-Mangia Restaurant to get your pasta fazooled. I'm a big fan of Five Brothers inexpensive fare, Michael's very expensive steaks, but I'll pass on Mangia Mangia. But that's me. Lots and lots of people like Mangia Mangia.

5 Brother's is half a block away

Mangia Mangia is one block west

Get your steak fixed here

CLICK HERE to details on this little charmer and more photos as well. Note the Dade County interiors, the open and eclectic feel that this house exudes, and the utter charm of the pool and garden. You won't be spending all of your vacation time tending to fixing things and working on the yard. There is something to be said and cherished about minimalism.

Season is just around the corner. If you are looking to buy a place in Key West where you can nurse your suntan in the winter, this kewl Key West cottage may be just what you are looking for. If you want to see it, please call me, Gary Thomas, 305-766-2642. It's not my listing, but I'll be glad to show you this place and others in the Old Town area so that you can see for yourself why I think this place will sell quickly at the new, lower asking price. I am a full time Realtor at Preferred Properties Coastal Realty, Inc. in Key West, Florida.

Woulda, Coulda, Shoulda - But Didn't !

Talk about mid-life crisis and the road not taken, how about the lost opportunities that people (buyers and sellers) regret day after day after day for years into the future. In a little town like Key West you can drive by that house you could have bought for a great price but didn't because you didn't like the seller, you didn't like the deal, you think you coulda bought the place cheaper, etcetera. As a seller you wish you wouldn't have been such an ass, that you had been more pragmatic, that you would have accepted an all cash offer with no strings attached instead of holding out to get more money which in fact you did not get. Life's lessons in real estate: woulda, coulda, shoulda, but didn't!

I've written this same theme before, but today's version is fresh. There are always life lessons in real estate. I want to share some recent sales about properties that I wrote about in this blog and which I thought might make a good home for a reader. (Just because I write about something does not mean I think it is a good deal. Sometimes I write about absolute crap and hope that you, the reader, can look at the property and see for yourself that crap is crap and just because it might have a high price does not turn it into something else. And just because some house is priced really cheap does not make it a bargain. If you have to spend tens or hundreds of thousands of dollars to fix something, maybe there is a reason no other Einstein bought the property.)

The new pricing paradigm in Key West real estate is tighter and much more realistic than in years past. Sellers who want or need to sell have generally reduced the asking prices to amounts that a knowledgeable ready, willing, and able buyer would be willing to spend. And the availability of cheap money provided at taxpayer expense is making purchase money very easy to obtain. Buyers who buying homes in Key West at this time are getting better price values and cheap financing. People who want to buy but who sit on the proverbial fence are missing out. These are the places you missed: (CLICK the blue hyperlink).

1415 Olivia Street Sold for $1032 per sq ft. That is pretty high. Very small getaway "house" on a good sized lot in The Meadows.


120 Angela Street This place is absolutely a fantastic deal. Great two bedroom, two bath condo with many upgraded features, top quality new construction, pool, parking and I think a good location. It is located in Bahama Village and too many buyers scoff at the idea of even looking there. This property was a short sale. The place sold for $363,000. You cannot buy this quality in Old Town for anything near this price. Smart buyer. Very smart.


711 Georgia Street This was a bank owned property. You will remember that someone removed the very fancy high end stainless steel kitchen appliances (kitchen cabinet pulls, hot water heater, toilet paper holder for Pete's sake). This is a lot of house in a very quiet Meadows location that sold for just $375,000.


1021 Fleming Street Another bank owned property located on one of the best blocks in Key West sold went under contract within a couple of days of being listed. This house has so much upside potential. It was listed for only$321,750 but sold for $400,000. I had a buyer. So did ten other Realtors. This place is like found money. There is an incredible upside potential on this house. Congratulations!


2309 Flageler Avenue the house I called The Glass House I normally don't go for modern houses or houses located on Flagler, but this place was so outstanding that I had to write about it. This beautiful home with exquisite garden sold for just $407,500.


915 Eisenhower Drive I wrote about the former home of Sally Rand several times. It was first offered as a market sale. Then it became a short sale. Finally, It was a bank owned property. I wrote an all cash offer for a cash buyer when it was a short sale. Time wore on the issues got very complicated. The mortgage lender went out of business and this property fell through the cracks so to speak. After a very lengthy time period a new lawyer finally got the property foreclosed and it became bank owned. I want to Congratulate the new owners who will be moving here soon. I represented them in this transaction and I am so happy they got this great old house at a fantastic price.


712 Southard Street This well located two bedroom two bath home with an incredibly beautiful pool and a great Old Town location was originally offered at $1.2 million. It sold at $635,000. (I had a cash buyer offer a lot more than that a year ago. They went on to buy a delightful home in Old Town.)


3632 Sunrise Drive This Sunrise Canal waterfront home was bank owned and is located a couple of doors to the east of Jimmy Buffett's former Key West estate. This property is huge and has a great waterfront presence. The place would be great as a permanent home for a large family or a getaway place for a buyer with lots of family and friends. I don't know who bought it, but the buyer got it for a great price of $750,000.


You shouldn't buy just because prices are cheaper and mortgage money is cheap. If you have been thinking of buying a place in Key West you ought to at least give the matter some serious consideration. Look for value in the property (present condition, location, long term appreciation potential). I've had a lot of regrets about properties I could have bought but didn't. I drive past them all the time. It doesn't get any better - ever.

If you are considering purchasing a place in Key West, please consider working with me, Gary Thomas, 305-766-2642. I am a full time Realtor at Preferred Properties Coastal Realty, Inc. in Key West, Florida. Don't end up being a woulda, coulda, shouda, but didn't.

1104 Angela Street - Old Town - Key West

1104 Angela Street - Old Town - Key West - Pretty in Pink

One of the great things about living in a small historic town like Key West is the knowledge that more things change in life the more the houses tend to stay the same.

The Old Town area of Key West has been designated as a national historic district and houses in the district are supposed to be protected from changes that would significantly alter their street appearance. Now not everything stays perfectly the same. In recent years requests for change need to be approved by the Historic Architectural Review Commission (HARC) that is supposed to follow a set of guidelines that protects buildings from demolition or alterations that would change the character of the building in relation to its neighboring properties. But if we go back a few years and compare old houses that were updated before the HARC regulations went in place we may see a change or two on any given property.

The old house at 1104 Angela Street which has just been listed for sale, but not by me, is a good example of a simple Key West vernacular home that has stayed pretty much the same since it was built in 1933 - or maybe not. (The property records for Key West were lost in a major court house fired. During the Great Depression (the one before the one we are currently in) workers in the WPA reconstructed property records for Monroe County. Many of the houses had no actual documents that proved an actual construction date. So somebody decided to give all of those houses the date of 1933 as the date they were built. Let me just say that many of the neighboring houses were built in the late 1800's. Maybe this house was actually build in 1933. I doubt it.) Look at the Monroe Property Appraiser's photo below and compare it to the photo above and see if you notice any difference other than the house probably was not painted pink when the black and white photo was taken in 1965.

1104 Angela Street in 1965

The listing Realtor describes 1104 Angela Street this way:

"Picture perfect Key West cottage - picket fence, chicago bricked driveway, heated pool and lovely landscaped outdoor space for al fresco dining and entertaining. This two bedroom and two bath home has an open floor plan with new kitchen opening into a large living/dining room with vaulted ceiling and multiple sets of french doors to the pool area and bricked side yard. There is a spiral staircase to a sleeping loft which is included in the 1324 square feet of living space. Old Town Location is superb - Olivia Street between Frances and Ashe Streets."

This home has just about everything a second home buyer is looking for: two bedrooms plus two baths, a pool, off street parking, a good (and quiet!) location, a great price, and no work to be done. It is ready to move into so you can enjoy Key West's wonderful winter weather far from the freezing black ice in New Jersey (or wherever you live). This 1324 sq ft home which sits on a 43' x 63' (2709 sq ft) lot is price to sell sooner rather than later: $699,000. That is the key to selling Key West these days-smart pricing. CLICK HERE to checkout the mls listing datasheet and the accompanying photos.

CLICK MAP if you still can't place this old house. Then CLICK STREET VIEW for a view of the surrounding homes. Don't forget the scary Key West Cemetery is a block to the west. And the hoopla from Duval Street is several blocks away. Keep things in perspective and you will be content.

I remember when I would visit Key West searching for a place to buy. I would moan and groan at anything further than Margaret Street as being too far from Duval. Now that I actually live here I know for a fact that I hardly ever go to Duval even though my office is only 100' or so away. I go there when I need to but not because that is where people who live in Key West spend their waking hours. Duval Street is a destination or, for me, a point of reference. I mention time and distance to Duval for potential buyers to gauge the distance. That is all. If you are a homeless person or a street a peddler you might live your life on Duval. If you have a nice house in Old Town, you share your life with friends and family in your house or theirs. Duval Street is sometimes a place to meet, but not a place to live.

Neighborhood places near 1104 Angela Street include the Sunbeam Grocery on White Street where you can buy a loaf of bread or a gallon of milk, the Coffee Mill on Pohlankski Lane where you can do Yoga or dance, the Chevron Station on Truman at White where Wes will fix your car, Old Town Fitness at 1010 Truman Avenue where you can turn your fat to fit, and Cafe Sole on Frances Street where you can get fat again.

The Coffee Mill on Pohlanksi Lane is just a block away

Sunbeam Groceries & Deli is a block north on White

Preview

Wes can fix your car at Truman & White Chevron

Cortney can make you lose weight or get buff at Old Town Fitness on Truman

Stop by Cafe Sole a block away on Frances and put the weight back on!

If you would like to see the house at 1104 Angela Street or any other property in Key West, please consider working with 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.

1219 Margaret Street - Old Town - Key West

1219 Margaret Street - Key West

The really big two story Conch style house located at 1219 Margaret Street in the South of Truman area of Old Town was just listed for sale, but not by me, at the asking price of $799,000. While this home may look old, it was actually built brand new (not renovated) in 1999.

The listing Realtor describes this home thus:

"Fabulous 3 bedroom 3.5 bath home with private pool, and covered carport for 2 cars. This home has been owner occupied since it was built in 1999, and is in exceptional condition. There is a 25 K whole house diesel generator, covered back porch rain/wind roll down curtains, oak floors throughout, Kitchen with new corian counter tops and appliances, an expansive 720 sq. Ft. 3rd floor which is suitable for bedroom plus work/play room. This home can be sold furnished."

If you are one of the value shoppers that looks and looks until you find the right house at the right price, your shopping days may be over. The listing agent says this home has 2160 sq ft of living space on three levels. The main floor is typical Key West with a large open kitchen, dining, and living area that open via French doors out onto the rear deck and tropical pool area. There are two good sized bedrooms and baths on the second floor. And the third floor has the bonus space you hardly ever see in an Old Town home. That space is perfect for use as a guest room, office, or playroom for the kids or grand kids. The front yard has the required white picket fence and there is covered off street parking accessed by a private rear lane.

Speaking of the private rear lane, I took the photos late yesterday afternoon. As I finished with the photos of the lane and parking and was heading for my car I looked up and realized the Atlantic Ocean and the beaches are only a five block walk to the south. Duval Street is a five minute walk to the west and Faustos Food Palace is a five minute walk to the east.

RECAP: 3 beds, 3 1/2 baths, pool, covered off street parking for two cars, Old Town, move-in condition, and priced at $799,000 or $370 per sq ft. This, dear reader, is a deal! Stop procrastinating and buy it before somebody beats you to the dotted line.

Private alley behind 1219 Margaret Street

Covered Parking for two cars

CLICK HERE to checkout the Key West mls datasheet and listing photos of this property. Take your time to look at the listing photos so that you can see too many features to enumerate. Don't undervalue the huge generator (either by cost and especially by value). A whole house system costs a lot to install but proves its worth when we are without power as sometimes happens.

If you are looking for a very clean and ready to move into house that is priced to sell, please call me, Gary Thomas, 305-766-2642. I am a full time Realtor at Preferred Properties Coastal Realty, Inc. in Key West, Florida.

1800 Atlantic Condominium - Bank Owned - Key West Waterfront

Just listed, but not by me, 1800 Atlantic Condominium Unit No. B 218. This Bank Owned unit should sell very quickly based on the asking price of just $289,500.

The listing agent describes this unit this way:

"Located On The Courtyard With A Partial Ocean View This Unit Offers An Expanded Floor Plan With The Opportunity To Refinish To Your Tastes. It Also Features Aluminum Accordion Hurricane Shutters And Pull-in Garage Parking. 1800 Atlantic Offers Owners An Ocean Side Heated Olympic Size Pool, Hot Tub, Covered Grilling Areas, 3 Lighted Tennis Courts And 24 Hour Security."

This unit is located in the "B" building, the one that bridges the span between the "A" building that abuts the mangroves and the "C" building that is next to Bertha Street as it winds its way to Smathers Beach and the Key West International Airport. This unit is larger than nearly all of the units in buildings A and C which are typically 1357 sq ft. Unit B 218 is 1469 sq ft and has a full view of the beautiful tropical courtyard and the pool and ocean beyond.

Tropical Courtyard at 1800 Atlantic Condominiums

The huge pool, private beach, and ocean beyond

CLICK HERE to checkout the mls listing datasheet and photos. Note the nice way someone removed fixtures and made some gaping holes in the walls. I'll bet the condition figured into the pricing of this unit which is offered at only $289,500. I feel the need to repeat the asking price because it is very low. The unit is 24 years old. It is time for an update.
1800 Atlantic has its own private beach, but I must admit you would probably prefer to swim in the huge pool or take a dip in the giant spa. There are three tennis courts, a hidden and surprisingly beautiful interior courtyard, and covered parking with additional storage. Oh, Smathers Beach is located directly across the street from 1800 Atlantic.

Smathers Beach as seen thru rose colored glasses

1800 Atlantic Condominiums have a great reputation. Guests return year after year because they know exactly what to expect. The love the ocean, the huge Olympic pool, three tennis courts, and proximity to Smathers Beach. The condos are close enough to town to bike but far from the madding crowd when distance is held dear.

If you would like to see this unit, please call me, Gary Thomas, 305-766-2642. I am a full time Realtor at Preferred Properties Coastal Realty,Inc. in Key West. This unit probably will not be on the market very long at this price.

---