901 Thomas Street - Old Town - Key West

The slow summer sales season is upon us. Sellers are re-evaluating their pricing strategies and some are reacting by reducing the asking price of their properties. Such is the case for 901 Thomas Street in the Bahama Village area of Old Town Key West. It was originally listed on March 23 at the asking price of $524,900. The price was reduced on May 23 to $509,900. Yesterday the price was reduced to $499,000. I have shown this property a couple of times and I really like it.


The listing Realtor describes 901 Thomas Street this way:

"Immaculate renovated one level cottage in the heart of Old Town in a lushly landscaped compound of three single family homes. 3 bedrooms 1 1/2 baths, shared pool with waterfall, outdoor shower and off street parking make this tropical paradise the perfect setting for a second home getaway or investment."

The home is part of a three home compound created about a decade ago. CLICK HERE to see 306 Olivia Street and CLICK HERE to see 903 Thomas Street. Each of the houses and the ground underneath are owned in fee simple, just as most home owners own their homes up north. The three homes share a limited common area that includes a bricked courtyard, garden and pool. The "condo association" maintains the pool and courtyard, but otherwise the individual owners are responsible for the maintenance, insurance, and taxes for their respective properties.

The bar and grilling area are part of the limited common area

The 'third' bedroom is currently used as part of the living area

This 993 sq ft home is super clean and meticulously maintained. It is currently part of a monthly vacation rental program. The formal entry is at side near the front. The living area extends to the far rear where the third bedroom is currently used as part of the living area. There is a full bath adjacent to the left. There are two bedrooms at the front of the house that share a separate bath. The kitchen pictured immediately above is the heart of this lovely cottage home. Not visible is a rear door at the right rear that exits off to the pool. The exterior of this house is crisp and clean. It has a 'new' roof and gutters and the place looks like it has been freshly painted. 901 Thomas Street is now offered at $499,000. CLICK HERE to checkout the Key West mls database on this house and to listing photos of this property.

901 Thomas Street is located two blocks from Duval Street and just one block west of the Ernest Hemingway House at 901 Whitehead Street. If you watch JEOPARDY, you would that Hemingway and Key West are frequent clues. One block to the north you will find two competing eateries, Blue Heaven and La Creperie which is a new addition to the corner of Thomas and Petronia. La Creperie is so cute and the food is good. Santiago's Bodega is one block further west on Petronia. Ft. Zachary Taylor State Park and the coolest beach in Key West is a five minute bike ride.

If you would like to see this sweet little cottage please call me, Gary Thomas, 305-766-2642 to schedule a showing. I am a buyer's agent and a full time Realtor at Preferred Properties Coastal Realty, Inc. in Key West, Florida. 901 Thomas Street is a lot of house for the money. You owe it to yourself to take a look - with me!

The Rose Tattoo House - Key West

1421 Duncan Street (corner of Pearl & Duncan Streets) Key West

1421 Duncan Street as it appeared in 1965

The Rose Tattoo House at 1421 Duncan Street - Key West

The listing Realtor describes the Rose Tattoo House located at 1421 Duncan Street in Key West like this:

"Tennessee Williams' renowned movie, Rose Tattoo, was filmed at this house in 1954. This 1752 sf Conch cottage is ready for updating with high ceilings and good light. Currently configured with 3BR/1.5 BA plus a loft on the main floor, a bonus mother in law unit and a separate studio across the pool. Located on a lovely corner lot tucked behind hedges with lots of covered porches and gardens and off street parking."

The Monroe County Property Appraiser says the house was built in 1943. I question that date because we had a war going on at the time and everything was being rationed. But the record still says the house was built in 1943.

"...Conch cottage is ready for updating" is right but I don't know that I would mess around with this place all that much. A lot of my Realtor friends are tired of seeing the same sleek kitchens and stainless steel all the time. This place has a link to the past, and it would be a shame to make it into something it was never intended to be. The good thing is that this house already has lots of the features second home buyers are looking for. It may be possible for a new owner to upgrade without going overboard. A good architect and a competent builder should be able to give a new owner useful advice on what works and what needs updated.

Living room opens into kitchen

Guest cottage at pool's edge

Spacious side yard to the west

Tennessee Williams lived at the opposite end of the block and would
walk to watch the filming of the movie

CLICK HERE to view the Key West mls database on this property. It is now offered at just $615,000. If you would like to see this property, please consider working with me, Gary Thomas, 305-766-2642. I am a buyer's agent and a full time Realtor at Preferred Properties Coastal Realty, Inc. in Key West.

1433 Reynolds Street - Casa Marina Area - Key West

1433 Reynolds Street - Casa Marina area - Key West

Just when I think I have seen every house in Key West that is worth seeing, I find out that I am completely wrong. Thursday was Realtor caravan where local agents show their new listings to other agents to entice them to bring their buyers to see that particular new listing.

The listing broker describes 1433 Reynolds Street in Casa Marina area of Key West thus:

"This warm and inviting four bedroom and four and one half bath home has been lovingly renovated with the utmost attention to detail including a gated entry, grand staircase, custom paint finishes, hardwood floors, and wood beamed ceiling. The first floor living areas open through walls of glass doors to the outdoor porches, pool with waterfall, lush gardens and artist studio. The two-story master suite contains a loft office with private outdoor porch and full baths upstairs and down. The guest rooms each exude a unique Key West character. Located just steps from the Casa Marina Resort and Higgs Beach."

This home has a lot of street appeal. The yard is protected by a white picket fence and lots of trees and foliage soften the entrance. When you enter the home you are greeted a a friendly staircase to the left and open living areas to the right. Your eyes may peer down the entry hall and get a glimpse of the dining area to the rear. Each of the rooms evoke a sense of flair but also great informality. The extensive paint treatments are evident in every room. This is a place that needs no "fixing" because it ain't broken. Every room is done to perfection.

Formal entry with view of dining area at rear

Three above photos show the living area

Master bedroom suite as viewed from stairway to third floor office loft or "FORT"

1433 Reynolds Street is offered at $1,495,000 or $598 per sq ft for this 2500 sq ft (3 level) home. The lot is 4785 sq ft (about 97.5' x 448.75'). The Monroe County Property Appraiser says the house was built in 1928. It is located two blocks from Higg's Beach on the Atlantic Ocean. The famous Reynolds House is located next door to the south. CLICK HERE to view the Key West mls datasheet and more listing photos of this property.

Above aerial photo taken in 1970

I toured this house this past Thursday during Realtor caravan. I was seriously impressed. This is a place for comfortable living. Bedrooms area nicely separated and each bedroom is totally unique as are each of the baths. The master suite is on the second floor and it has an interior staircase to the third level office (which also has a bath). I remember telling another agent "FORT" as I descended the stairs. Kids or grand kids would love to spend time up there when it is not being used for more somber undertakings.

Real living goes on in the kitchen and dining areas in most homes. That is where the meals and made and families interact. Those rooms here are filled with whimsy and charm and pizazz (not pizza).

New but old fashioned kitchen just looks like home ought to look

Dining area with trompe l'oeil painted ceiling that resembles woodwork that needs painted - it doesn't.

Deck & Pool off to the right

The pool area is another marvel. You must cross a series of concrete piers that seem to float on water to get to the poolside cabana. There are ground level, second floor, and third floor decks that look down to the pool.

Poolside cabana on left

I took more photos which you can see if you CLICK HERE. Better than that, please call me, Gary Thomas, 305-766-2642, to schedule a viewing of this incredible property. Don't wait. This property has everything a sophisticated buyer wants. The listing broker told me the seller would consider selling the property fully furnished (minus some art work and personal items), but it is not offered furnished at the asking price. I am a buyer's agent and a full time Realtor at Preferred Properties Coastal Realty, Inc. in Key West.

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Care for a Double Dip?

Care for a Double Dip?

The AM political discussion today is the prognosis for a double-dip recession. The talking heads on morning TV do what they do best - they pontificate and the agitate. Republicans blame the Democrats and the Democrats blame the Republicans. And it seems to me that nobody does anything productive. The second most talked about issue on this date (and yesterday) is Congressman Anthony Weiner's alleged weiner picture. A close runner-up is Sarah Palin's upstaging of Mitt Romney in New Hampshire.

I will bet you that the discussion of a new potential dip in the economy will scare the beejeezus out of many potential buyers of real estate across the country. Too many people (myself included) get most of their information on what is happening from TV. I assume many watch or listen to networks or individuals that mimic their political philosophy and probably do not look for alternative discussions in other media. Networks and talking heads repeat the topic of the day (sometimes for days on end) and beat the topic into the psyche of any viewer or listener. That discussion becomes the basis for a current belief of what is actually going on. This belief may be true. But it could equally be just a theory that got repeated so many times that people believe it to be fact.

I am lucky enough to be working with some potential buyers who have not yet made the move to actually offer to purchase a property in Key West. Several have questioned "timing" and expressed concern about what will happen in the future. I understand that. Nobody wants to buy in a declining market and pay too much today what might be purchased in the future for less money.

I have written before and most likely will write again that what happens elsewhere in the United States does not necessarily happen here in Key West. While there me more and more new foreclosures being filed up north, the fact is that there are fewer new filings in Key West this year compared to last year.

There were 79 new bank owned properties in all of Monroe County between April 16, 201o to May 16, 2010. Only 18 were located in Key West and one of those was a weekly timeshare. During that same time period lenders filed a total of 93 new Lis Pendens (the legal document that gives notice to the world that a new foreclosure has been filed against a specific property). Just 25 of those Lis Pendens were for houses located in Key West.

During the 2011 April 16 to May 16 time period the number of new bank owned properties in all of Monroe County decreased to 21 and only 6 in Key West. New Lis Pendens filings for all of Monroe County also dropped to 47 with only 18 for properties located in Key West (with one timeshare included). Those numbers signify to me that the local real estate market has improved over the same time last year. The inventory of new bank owned properties has decreased and that should me bank owned properties will be less of a drag on the rest of the real estate market. The number of new Lis Pendens is less than before, but the new filings suggest that the market still has not recovered overall.

Several of the new Lis Pendens and new bank owned properties are for properties located at the Key West Golf Club and Las Salinas. Sales at the golf course have picked up over sales from two years ago but that has caused some sellers to maintain higher asking prices than they perhaps should. Presently there is a large inventory of unsold units at the golf course. If sellers really want to sell houses there, they need to meet the market. I have never shown a unit at Las Salinas and won't. I wouldn't want a buyer of mine to buy there.

Back in the hot summer days in the 1950s my dad would drive us over to the Dolly Madison to get double dip ice cream cones. I would always get two different flavors for just ten cents a cone. Nobody feared double dips back then.

CLICK HERE to search the Key West Association of Realtors mls database. If you are looking to buy a place in Key West please think of working with me, Gary Thomas. I am a buyer's agent and a full time Realtor at Preferred Properties Coastal Realty, Inc. in Key West. Contact me at 305-766-2642 or by email at kw1101v@aol. Don't listen to the talking heads. There job is to pontificate and agitate. Think for yourself.

1203-1205 Von Phister - Casa Marina - Key West

Simple words can't do justice to the absolutely charming home at 1203-1205 Von Phister Street in the Casa Marina area of Key West. The listing Realtor describes the property this way:

"This wonderful 1940s house is owned by well known artist Debra Yates, who has transformed it into an irresistible and artful 3BR/2.5BA residence plus an 880 SF guest house. The main house has an open living room (with fireplace), dining and kitchen area and multiple sliding glass doors that bring the extraordinary gardens in. On an oversized double lot in the Casa Marina area, the gardens are designed with rare tropical specimens and lots of out door areas for living/dining and a beautiful 35' X 11' heated pool. The guest house has its own private entrance and high open beamed ceilings, great open spaces designed for easy living on two floors with views of the gardens and patio. Two off street parking spaces. Truly special."

I have ridden my bike past this property many times. It is set back from the street and appears almost hidden behind a large privacy fence. But it is the majestic tree canopy that nestles this home and provides privacy that almost makes the house itself disappear. When you walk in the front door you immediately recognize the distinctive flair of a Debra Yates home. While there is lots of geometry going on in this house, none of it is plain. Instead, the eyes search in multiple directions to see what area to look at and be impressed by. I kid you not, you can't wait to get from room to room to see what is next.


The main house and guest house have a combined area of 3185 square feet and sit on a large 9408 sq ft lot. I was surprised to learn that the property was actually built in the 1940s because it is so "modern" in its design. But the original wood floors that have been painted clued me in that which appeared new was old and that which is new appears bold. Yates did what I tell perspective buyers to do: she removed existing interior walls and reinvented the spaces for her use. She ripped out old style windows and added new floor to ceiling windows or sliders that bring much of the outside inside. She expanded living spaces by creating adjacent outdoor spaces that invite you outside.


I repeatedly tell perspective buyers that outside space is so important when buying a place in Key West because that is where we spend so much of our time. This place has multiple outdoor places to read, sun, drink or dine, or just to contemplate the meaning of living life.

Master bedroom suite with large adjacent sun deck

Outdoor dining area just off guest cottage

Poolside terrace in the foreground with additional outdoor dining area off the main living and dining areas at the rear

The guest cottage is itself a site to behold. The two story cottage has an office, bedroom and bath on the ground level and a full kitchen, second bath and living room-cum bedroom area (privacy curtain) on the second level where there is another deck. The guest cottage is fancier than many homes in Old Town. (Your guests may move in and never move out.)

CLICK HERE to checkout the Key West mls data sheet and to view more listing photos of this wonderful property. 1203-1205 Von Phister Street is offered at $1,795,000. If you are looking for a one-of-a-kind property like this, please call me, Gary Thomas, 305-766-2642 to arrange a showing. I am a buyer's agent and a full time Realtor at Preferred Properties Coastal Realty, Inc. in Key West.

Commercial Building - Waterfront View - Bank Owned - Key West

Are you that commercial buyer that has the concept for a commercial space with a water view in Key West? If so, the new listing for the commercial property at 1970 North Roosevelt Boulevard in Key West may be the property you have been looking for. The listing agent describes this Bank Owned property this way:

"Bank Owned property on the Boulevard in Key West FL! Faces the Gulf of Mexico across the street from Garrison Bight. Currently licensed for 70 seats (may qualify for up to 150 seats). Most recent use was Bait and tackle store in one space and 70 seat restaurant upstairs overlooking the Gulf. Inside and outside seating. There is covered storage at ground level of approximately 1,500 SF. Two buildings attached totaling 3,839 SF on a 15,472 SF lot. Endless possiblities on this highly visible building on N. Roosevelt Blvd. Large, lighted sign could be restored (pole is there with power to it)."

This property has parking on site as well as free municipal parking nearby. It has been totally refurbished with new metal roof, electrical, and plumbing with 3 new bathrooms. It is zoned for all commercial uses at the busiest intersection in Key West directly on Roosevelt Blvd. The site enjoys awesome water views of the Key West City Marina. The snazzy Key West Yacht Club is located across the street to the east.

Key West Yacht Club is located across the street to the east

Key West City Marina

Several years ago this property was a very successful locals bar and restaurant. I was told the lower level was also a drive-thru liquor store. That owner sold the property and went on to other ventures.

The most recent venture as a bait & tackle shop and restaurant was not the best "concept" I have heard of. A new owner may want to change the usage from restaurant to something quite different. The asking price of $995,000 or $259 per sq ft makes this property worthy of consideration as a potential renovation and conversion to a different use. I am not sure the existing "ramps" work for a restaurant or any other venture. If the property were converted to offices or mixed use, an internal elevator could be installed and that would permit ADA compliance and also clean up the cluttered exterior appearance.

There is additional parking in the rear where there is also a storage area with garage door.


If you are looking for a commercially zoned property in Key West with off street parking and a water view, this Bank Owned property may be the answer to your search. Please contact me, Gary Thomas, 305-766-2642 to obtain more information. I am a buyer's agent and a full time Realtor at Preferred Properties Coastal Realty, Inc.

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No Bottom-Feeders, Please - Key West

77 Lb. Black Grouper (a Bottom Feeder) caught in Key West - 1995

The listing agent at Preferred Properties (that's where I work) added this comment in the agent remarks section to the listing at 925 Eaton Street "And, lastly, the price is firm. No bottom-feeders, please."

925 Eaton Street - Old Town - Key West - 2011

925 Eaton Street as it looked in 1965

Before that he described the 4 unit money maker at 925 Eaton Street in Old Town Key West this way:

"Legal four-unit property consisting of an historic main building with three units and a secondary non-historic cottage. Projected $47,000 gross annual income (2011 -2012) and tenants pay all utilities, including sewer and trash bills. Expenses are Fire Insurance: $1,879 Windstorm Ins: $2,320 Flood: $2,075 Taxes: $3,634.00 Due to the extraordinary cash flow, the owner is FIRM on the price."

I have shown this property a few times during the past couple of years. The listing agent discussed "potential income" when showing the place. That always suggested the new owner would need to spend some time and some money to goose up the revenue. The agent got the seller to do some of the suggested updating and now the income property is listed for sale at $405,000. CLICK HERE to checkout the Key West mls database on this property and to view several nice photos of the updated property. If you looked at this place before, it might be time to go back for a second look.

The guys and girls that work in the shops and restaurants or that man the fishing boats or sightseeing tours live in places like this. Places like this typically charge around $1,000 to $1,200 per month for an economy apartment. (The listing agent projects $47,000 annual income or $980 per month per apartment.) Small units normally have just one tenant but sometimes places are shared to keep costs manageable. The property at 925 Eaton Street requires the tenant pay the water and electric. That's good for a landlord especially because some tenants love to leave the air condition down way low when somebody else is paying the bill.

You will note that this property does not have parking nor a pool. You as an owner/landlord and the tenant would have to pay more for "luxuries" like that. But what is does have is a good location within easy walking or riding distance by bike or scooter to most of the Old Town area. That's the area where most locals work. So this location (and lack of amenities) is practical from a tenant perspective. Lest you feel sorry for the tenants, Dante's is just a couple of blocks away. You will find lots of locals that spend their days off lounging by the pool.

Dante's

If you are looking for a small investment property in Key West, you might want to take a look at 925 Eaton Street. If so, please contact me, Gary Thomas, 305-766-2642. I am a buyer's agent and a full time Realtor at Preferred Properties Coastal Realty, Inc. in Key West.