11 Whistling Duck Lane - Key West

I recently showed an absolutely beautiful three bedroom town home at the Key West Golf Club that might appeal to a buyer seeking a move-in ready home that has been smartly upgraded and lovingly maintained.  I am speaking about 11 Whistling Duck Lane that is offered at $349,000. The listing Realtor describes the property this way:

"A must see Golf club unit - completely remodeled kitchen and freshly painted through out - 3br/2ba upstairs (a bedroom/converted to Artist Loft!)Screened porch with hidden 2 person jacuzzi."

I have been inside a lot of golf club homes and this is truly a one-of-a-kind. Take the kitchen for starters. It is hidden behind a folding screen to reveal a neatly crafted work space for meal preparation. A beautiful credenza topped with granite acts performs double duty as a kitchen "island" and piece of furniture when the kitchen is not in use. The dining and living room seem to flow out to the screened rear porch which is artfully decorated and provides substantial additional living space. Upstairs the master bedroom has a vaulted ceiling, en-suite bath, and closets with lots of built-ins. There are two other bedrooms on this floor.

 The rear garden is reminiscent of an English garden. It is that cute. And it is located in sub-tropical Key West and not in rainy England. The space is quite and protected by a small mangrove between the houses on Whistling Duck Lane and the smaller of two golf club community pools. You can walk to this pool in just a couple of minutes.  The larger pool and community fitness center are also within walking distance.

I checked the exterior of this home to compare its condition to others I have seen. I can report this place looks as good as new. The Hardiboard siding looks freshly painted. The wood trim all appeared to be in perfect condition.  The homeowner has places gravel around the side of the property and every thing looks spotless. That's a plus as I don't see anything a new owner might have to do after closing on this house.  Sometimes, some places require a lot of work. Not so here. 

Homeowner Association fees at the Key West Golf Club community are $333 per month and include (manned and gated) security, common area maintenance, and cable television.

CLICK HERE to view the Key West Association of Realtors mls datasheet on this property.  If you would like to see 11 Whistling Duck Lane or any other property in Key West, please call me, Gary Thomas, 305-766-2642 or send me an email at kw1101v@aol.com.  I am a buyers agent and a full time Realtor at Preferred Properties Key West. Let me help you find your place in Paradise.

Bank Owned - Designer Home - 1103 Ashby Street - Key West

City is doing landscaping

 Just listed, but not by me, a Bank Owned property that was originally designed by the noted design team of Debra Yates and Raymond Jungles. (They were not the owners of this property when it was foreclosed.) The house is located at 1103 Ashby Street in the mid town area of Key West.

I have written about other houses the Yates-Jungles team designed. The homes I have written about previously (and this one) were previously owned houses which Debra Yates updated by using space, height, color, and contemporary structural and architectural elements to re-purpose the house. This particular house is like of many in this area. It is an 1116 sq ft three bedroom home that was built in 1955. It is located on a corner lot adjacent to our local middle school.  You can drive up and down the nearby streets and see dozens of similarly constructed and built homes that have been updated in the more than 50 years this subdivision was built. But you won't see any house like this. This is a one of kind.

Door leads to outdoor shower

Laundry and closet area

Deck off the master bedroom

 I have also written about Raymond Jungles who was the premier landscape architect in Key West until he left our area. He did the gardens and pools at the Marquesa Hotel and in some of the most expensive homes in Key West.  A home owner who gets a Raymond Jungles garden is getting a design worthy of note.

Privacy fence encircles the entire property

Pool and fountain

 
 You can view more photos I took of this house and grounds if you CLICK HERE.

1103 Ashby Street is offered at $356,400 or $319 per sq ft. CLICK HERE to view the Key West mls datasheet and to view listing photos.  If you are interested in seeing this property, I suggest you act quickly. I was there twice on Friday and the place was jammed with Realtors and buyers looking for a steal. Please contact me, Gary Thomas, 305-766-2642 or send me an email at kw1101v@aol.com. I am a buyers agent and a full time Realtor at Preferred Properties Coastal Realty, Inc.  Don't wait too long. You will be sorry.

One Seller's Remorse

I got an email from a buyer I have been working with for nearly two years. She noticed one property she has been eying had recently raised the asking price by $200,000 (not a typo) .  I looked the property up and recalled having discussed the property with my buyer several months ago. Sometimes sellers will agree to a price reduction to stimulate new interest in their property.  But there are some sellers, I guess, who believe that if they raise the price on their house and are willing to wait for the right buyer to come along, that they will eventually get their price.

I guess if a seller is wiling to wait as long as it takes to get his or her price the wait is worth it.  I guess.

3611 Flagler Avenue - Key West

3611 Flagler Avenue is a recently listed single family home plus guest cottage located in the new town area of Key West. This property was built in 1963 and has been continuously maintained. The place almost looks like new. The home and guest cottage sit on a 10,000 sq ft lot (100' x 100') behind a privacy wall and lush vegetation that shields the property from the street. The listing Realtor describes the property this way:

"Lovely home on 10,000 sq. ft. of land surrounded by mature foliage, fully fenced &; discretely tucked behind a concrete block wall. This property has been lovingly cared for &; scrupulously maintained by the Owners for decades. The main home is a concrete block split level 2 bedroom/2 bath with tile floors, large living room, lots of windows, separate dining area, central air &; a wine cellar/storage/ workshop area under the house. There is a covered outdoor dining area overlooking the pool. The guest house is a 2/1 with a large screened porch also overlooking the pool. Privacy at every turn; an unexpected hidden oasis with plenty of room for family &; friends. Close to the beaches &; Gulfside shopping but still just a bike ride to Old Town."

All I can say is that the agent got it right. I went to view the house not expecting a lot. Boy was I wrong.  I have been in a lot of houses and I usually notice little things (or sometimes big things) where owners let problems fester. I didn't see issues here.  I saw a house that has been properly cared for. A new owner may want to swap out kitchen cabinets or update the bathrooms. But neither remodel job would make this house any more livable or make it function any better. That's because what you see is not broken and does not need to be fixed.When "bargain" shoppers search for houses to buy, they often assume they will need to spend more money to redo a place, replace a roof, replace windows or doors, add a pool, etc. Those little projects can add up to substantial amounts of money. Building records show upgraded electric service, pool, new shutters and new roof in the past ten years or less.  That will mean a substantial savings to a buyer who might have to add or replace those items in a different property.

The original front entry is no longer used. Instead, entry is now located at the rear which is an elevated porch area that overlooks the pool and rear garden. This arrangement provides more usable living space to accommodate the grand piano in the living room. But there is plenty of space inside this area for lots of furniture and memorabilia.  The dining area is located off to the side of the kitchen which opens into the dining area.  The natural give-and-take set up creates and inviting atmosphere where food and drink can be shared.

A small riser of three stairs topped by Cuban tiles and set off by delicate wrought iron rails leads to the upper level where there are two bedrooms and two baths.

Front Bedroom

Rear Bedroom with Pool View

 The guest cottage sits to the left rear of the parcel. Like the main house, the guest cottage has a covered outside porch that overlooks the sunny pool. This area is protected from the house view just a bit by more tropical foliage. Adjacent is a screened porch. The living area in the cottage is quite spacious and super clean as well. The kitchen is located on the far wall and has all the essentials. There are two bedrooms and one bath in this cottage plus it has a laundry room. This is a fine place for a real mother-in-law or about to be emancipated minor who needs his or her own space. (If I let a relative use this space, I'd charge about $1500 per month which is about the going rate for something like this.)

You just have to see this beautiful sunny pool. Wow! Could you get a great Key West tan basking here. The pool is a real pool, not some imitation of a pool like you often find in a small cramped yard in Old Town. CLICK HERE to view a slide show of photos I took of this home.

3611Flagler Avenue is offered at $587,000. CLICK HERE to view the Key West mls datasheet and listing photos. Better than that, please call me, Gary Thomas, 305-766-2642, to arrange a private showing of this really comfortable Key West property.  This is really nice home that will appeal to a wide audience of buyers. I am a buyer agent and a full time Realtor at Preferred Properties Coastal Realty, Inc.

First Three Quarters Real Estate Sales Report - Key West

 I just did a quick review of the real estate sales for the Island of Key West for the first nine months of 2012. Shall we celebrate with a Key West "segar" and some Mumm's champagne?

I did not include any sales on Stock Island, the golf course, or any house, condo, trailer, etc. located east of Cow Key Channel. The reason I did this is that when potential buyers want to buy a place in Key West they tend to resist even looking at anything off the island itself. It usually takes a more open and accepting buyer who wants a real value to agree to look at the golf course, Key Haven, or areas beyond to the east.

There were 166 single family home sales in Key West that closed between January 1, 2012 and today.  Seventeen (17) of those sales were bank owned houses. Most of those houses were in the very bottom of the price range of all houses sold. A couple were absolute disasters. I was given permission to write about one that had serious mold issues. I wrote about another that had been the victim of owner remodeling without building permits. The resulting house was a horrible mess.  I got multiple calls and emails from potential buyers on a bank owned house in the area just east of White Street. That house had been butchered by a former owner who created an outdoor bathroom complete with working toilet but no walls on three sides. (Maybe his wife made him do it.) Another bank owned house at 916 Frances Street was located next door to a popular titty bar.  That property had lots of buyer interest not because of the location but because of the size of the house (2720 sq ft)  but because of the asking price of $282,500. It sold at $260,000 or $152 per sq ft. The pricing reflected the location and condition, but the house was a real value in my opinion, especially to a local. One bank owned property had been on the market for several years as a short sale. That place had been carved up by an owner into three units without the city knowing about it. Somebody thinks they got a good deal because the buyer paid a premium over the asking price. ( I had a buyer who wanted to buy the place, but I talked him out of it. It had way too many legal and structural problems in my opinion.) Finally, the most expensive bank owned house to sell was one located in Truman Annex. That house sold for $2,000,000 in February 2004 and re-sold in May 2012 for $1,700,000.

We had fifteen (15) sales identified as short sales in the same time period. The most notable short sale was the home located in the 400 block of Elizabeth Street which was on the market for 1357 days. It was a gracious and very beautifully renovated home with all the bells and whistles plus the advantage of being located on one of the best blocks in Key West. It sold as a short sale for the price of $1,800,000. Two things happened on February 20, 2012. The listing designation changed from regular "active" listing to "short sale" and the asking price dropped from $2,290,000 to $1,800,000. The property was under contract eight days later. Somebody got a heck of a deal. Good for them.

Twenty-one (21) single family homes sold for over $1,000,000 in the first nine months of this year. The average sales price on a per sq ft basis was $662 for a house with an average square footage of $2575 s.f.  Most of these homes were in the Old Town and Casa Marina areas. The largest sale by dollar amount was a home on Sunset Key that sold for $5,000,000.  It is very interesting to note that five of the over one million dollar sales were only available for a few days before they were snatched up. Those five houses were on the market for an average of 24 days.

There are a lot of potential buyers looking for houses (and condos) in Key West.  Most active agents have a list of buyers who are looking. (Some share the same buyers and don't know it, unfortunately. It really hurts when you find out someone you have been working with has been seeing another agent on the side so to speak.)

If you are a serious buyer looking for a house in Key West you need to set realistic expectations.  I mentioned that I did not include houses at the golf course in my discussion today. That's not because I don't like the golf course, it is because a lot of buyers consider it like living in Big Pine Key. It is not. It is a suburb of Key West. It is a ten minute car ride to Old Town on a normal day.  It is quiet and laid back location. The same is true for Key Haven where most of the homes are located on canals. A few minute car ride could save you thousands of dollars in purchase price and probably provide you with a larger house than you could find in Key West in most instances for a comparably priced home.

Cash buyers still trump buyers who need to borrow to buy a house.  Cash buyers with a lot of cash can sometimes get a helluva deal as compared to buyers who need to finance. The house as 512 Fleming Street with a pool, off street parking, and a transient license sold for $1,080,000, or an $85,000 premium over the asking price. There were multiple cash offers on this property.  If you are a cash buyer and if you are presented with a buying opportunity, you really need to consider using your buying leverage because if you do not, someone else will. And you will be left on the sidelines wishing you had spent a couple of thousand dollars more. 

Non-cash buyers ought to expand their base of housing types and locations to consider. And they ought to realize that there are lots of folks just like them looking a buying a house in an ever-shrinking market. Sometimes buyers think they are the only potential buyer. That is foolish thinking. 

If you are looking to buy a place in Key West and are not working with an agent, please consider contacting me, Gary Thomas, 305-766-2642 or by email at kw1101v@aol.com. I am a buyer agent and a full time Realtor at Preferred Properties Coastal Realty, Inc. in Key West. Let me help you find your place in Paradise. Maybe in a couple of months you'll be the one smoking the segar or sipping the champagne.