533 Petronia Street, Key West - Historic Renovation Project Property

Just Listed, 533 Petronia Street, Key West.  This is the perfect historic renovation project. It appears to be in pretty good condition suggesting that improvements made will be more decorative than structural in nature. There is an attractive front yard, gated off street parking, and room for a pool in the rear. However, I do believe other improvements would necessarily include the upgrading of electrical, water, air conditioning, replacement of windows and doors, and the addition of a new kitchen and baths plus the addition of a pool, decking and gardens.  When completed the "old house" essentially would be new.

I searched the Historic Sanborn Fire Maps to determine the approximate age of this property. It first appeared on the 1889 map as 517 Petronia Street. The street number was changed to 529 Petronia on the 1892 map and finally changed to 533 Petronia Street on the 1899 map. This tells us the house existed as early as 1889. I then dug into my old shoebox and found the above black and white photo taken in 1965. Compare it to the present day photo at the top. You will see some gingerbread was added to the porch columns. The white picket fence was replaced by a chain link fence - usually chain link fences are the ones replaced. The charm of the visage is undeniable.

The house sits to the right of center of the 45' X 100' lot.  The entry door is centered in the middle of the house which measures 24' wide by 50'  deep according to the Property Appraiser records. In actuality, the house is longer as there is appear to be two mystery additions about which the Property Appraiser is unaware. More on that later.

This house reminds me of how so many of the houses in Old Town looked like 22 years ago when I began selling houses here.  Many of the original houses had been modernized in the 1950s or 1960s. The were plain Jane in every aspect. But they had what folks refer to as "good bones" or "potential".  As these houses were bought and renovated, the stock of houses with "potential" diminished.  This particular house has a very interesting street presence, lot size, and house size plus structural condition that suggests this would be a great candidate for renovation. The photos above and below show how the current house is laid out. Forget the the way the place looks now instead focus on the size and condition. And then open your mind as to how you might re-create the spaces into what could work for you and your family or partner or whatever. I

The existing living room is located at the front and is very large. The adjacent front bedroom and bath are tiny. The room sizes and configuration make no sense for modern day life! The board and batten in the bedroom strongly suggest the walls are Dade County Pine. If the current ceiling were vaulted, the already large space would be dramatic.

A doorway at the rear of the living room flows into the kitchen. A hall on the west side has a bath and closets followed by a second bedroom. While I did not measure the space for accuracy, I am pretty sure that this is the only part of the house on the Appraiser's record which shows the house measuring 24' wide by 50' deep. In fact there are four "rooms" beyond the known structure: a closet, a bath, the TV or family room, and a third bedroom.

The rear "phantom rooms" add 312 sq feet of living space to the known 1200 sq ft. A thoughtful renovation might change the main entry from the front to the west side which would allow the master bedroom to be located at the front where the porch would be private to the master suite. Bedrooms could be located along the east side and a new open concept living and dining area placed on the west side where there is a sizeable open area which could become a tropical garden and/or deck leading to a pool at the rear.  Multiple sets of French doors might be added on the side and rear to bring light into the new open concept living area. The opportunities to create are boundless.

The rear lot has two storage rooms. The west room presently has a rooftop deck of sorts. A new owner might convert this space into a poolside bar. I would nix the space myself. The east rear storage could be kept without interfering with anything. CLICK HERE to view many additional photos of the house and yard.

This property is located about one-half block east of Duval Street. Several of the adjacent homes have transient rental licenses and others are rented as monthly vacation rentals. When renovated this house could become a very popular vacation rental given the size and location. This would be so easy to kept rented throughout the year.  The most successful vacation and transient rentals are located near Duval Street and have off street parking. Guests will love it!

CLICK HERE to view the Key West MLS datasheet on 533 Petronia Street, Key West  offered at $799,9990. Call Gary Thomas, 305-766-2642, to set up a showing. I am a buyers agent and a full time Realtor at Preferred Properties Key West.

I Get Letters and More from Readers

I must confess the biggest joy I get from my blog is the sale of houses and businesses from people who learned about me by reading my blog. The next and most heart-felt joy is hearing from readers who have been touched in some way about something I have written. Comments about listings much appreciated. Sometimes I express  a political gripe that can lead to internet warfare. I hate when that happens. But at least I know people are reading for content.

In the past two weeks I received both an email a package from readers both of which were sent in response to a blog I wrote some time ago. Theses are not the only such letters or packages. One reader actually brought me a Jim Beam KEY WEST commemorative bottle. Another brought me  Wisconsin cow coffee cup. Another gave me a DRAG DOLLS book (I have no idea why). Other readers have taken me to dinner at Louie's Backyard, The Cafe Marquesa, Antonia's, and Pisces. I appreciate the food and gifts and this blog is not meant as a solicitation for more. 

The first letter relates to a story about my SUPERMAN and Me blog. CLICK HERE  to read in it's entirety.  The blog is basically my life story told in fifteen short paragraphs. It's nothing remarkable. But it shows how Superman and the ethics of a boy's life in the 1950's resulted in the real estate salesman and internet blogger in Key West today.  The sender has a website dedicated to all things SUPERMAN - michael-krek.pixels.com. Lots of photos of the man of steel. Michael wrote "I loved the story of how you got to Key West".

The second email was in response to my July 12, 2015 blog "There Is No More Officer Goody". That blog told part of the story of my return to Colorado to attend my 50th high school reunion. Earlier in the day I went to my elementary school where I spent the most formative years in my life. Officer Goody's son learned about the blog, read it, and sent me this nice note:

"... yes that was his name Officer Frank Goody. My Dad. Like all of us, He was no saint by any means, but he had that child's wonder about things all his life. I think kids could sense that the wonder in them was in him as well. My fondest memories of him were from long after the DPD . He spoke excellent Japanese and would often eat at family run Japanese restaurants to hear the language spoken by native speaker. Shortly after we would be seated you could expect a child to arrive at my father's side with a fine felt tip pen and a sheet of paper. My dad would ask in Japanese what the boy or girl wanted draw and whip out a cartoon of that child in a plane or on a tiger etc etc. A small very polite line would form by our table and while we ate & talked he would do a drawing for all the children of the Restaurant workers who were there. I often wonder how many adults today have a cartoon of themselves folded up in a drawer, drawn by my dad."

I found the above photo of Officer Frank Goody thanks to Google. If you take the time to read the blog, you may appreciate why this big and gentle man made such an influence on a little boy in kindergarten more than sixty years ago.

We all touch each others lives in some way. I use my blog and my photos to drum up business and sometimes comment about what's going on in our world. Please continue to read.

If I Had a Million Dollars

When I was growing up in the 1950s and 1960s a million dollars was a lot of money. On Saturday night one of the TV stations in Denver would host a million dollar movie - a feature that was so special that it cost over one million dollars to film.

Years later when I first moved to Key West a million dollars could buy a big important house - a restored home with a pool, parking, and a great Old Town location.  I have written several blogs over the years about the continued price escalation of housing in Key West. For years the rising prices enriched the lives of those who either inherited properties here or who bought and renovated, or even those who bought and lucked out as prices continued to rise.

Two events changed things in the past thirteen years. The national psyche was traumatized in 2005 by TV death and devastation caused in New Orleans by Hurricane Katrina.  A few weeks later Key Hurricane Wilma swamped the eastern side of the island of Key West. I think a lot of people assumed what they saw in New Orleans also happened in Key West. That was not the case, but people believe all kinds of nonsense these days.  Second, the Great Recession started in 2008. The stock and real estate markets tanked simultaneously across the country. Short sales and foreclosures became the norm in Key West as many of the homes and condos here were "second homes" owned by folks who came to Key West and fell in love with the island life. Both the price of homes and real property values decreased. It took several years before the Key West real estate market corrected. Old Town and the Casa Marina area recovered quicker than other areas because those areas are the places most tourists and second home buyers frequent.

Between the time the Recession started and eventually corrected, the buying public was divided as to the efficacy of buying or selling, holding or acting boldly. Those who bought in 2009 thru 2012 made out pretty well. One of my buyers spent two million dollars in cash to purchase nine units at the Key West Golf Club which he then rented. The rents have doubled but more importantly, the value of each place has doubled as well. Those who sat on the sidelines waiting for the end of the world lost out. I have told this story before. But here's the twist today.

I have been working with several would-be buyers over the past several years who missed the opportunity to buy when the market was at its lowest. One couple had kids in school; another had a small investment company and needed his cash to fund his company; a university professor made ridiculous offers when the market was lower and now does not have enough money to meet the current price point demanded. Within the past six months I learned the couple with the kids bought a place in Pensacola. The investor bought a large house in Charleston for $1.3 million. Another couple who owned in Charleston who wanted to move to Key West ended up buying a place in Santa Fe, New Mexico. These three buyers bought quality homes for less money than they would have to pay in Key West. The professor appears to have given up. The Key West economy has passed him by.

I am a risk adverse person. I went to Las Vegas a couple of years ago and came back a bit richer than I went. I made about $60 playing slot machines. That was it. Money is too valuable to throw it away.  

If I had a million dollars, I would buy the best property I could find in Key West and buy it now. Key West is a little island out in the middle of the ocean. The land mass cannot be increased. Key West is restricted from adding new housing by law. What we have now is what we will have in the future. As crazy as the world is right now, most of the people are not crazy. They want the same things - food, shelter, peace, a good place to raise their kids, a nice place to retire too, things like that. So no matter what goes on up north in America, life down here will probably stay the same as it has for years and years. The weather will usually be spectacular. The drive from the mainland will be beautiful. The cost of housing will continue to rise.

If you are thinking of buying a place in Key West and are not working with a Realtor, please consider working with me, Gary Thomas. I am a full time Realtor at Preferred Properties Key West.

The Perfect Old Town Charmer - 1021 Fleming Street, Key West

Just Listed, 1021 Fleming Street, Key West. Longtime readers of my blog may recall that I first wrote about 1021 Fleming Street in 2010 just after it was listed for sale as a bank owned property.  I posted two more blogs documenting the renovation and restoration of this property which resulted in it receiving the 2014 Florida Keys Historic Preservation Award for excellence in historic preservation. The ceramic star award is visible next to the front door.   

In 2010 I wrote "You can tell a lot about houses the way that prior owners cared for them. Look at the photo above, it says it all. "HOME SWEET HOME". The paint is peeling a bit. Kind of like when a distinguished gentleman gets older and his skin looses the tautness of youth. Crows feet and little wrinkles appear. I guess some would say a man with features like that is over the hill. Others may find a man like that a great catch." The buyer who bought and restored this house definitely viewed the home as a great catch and methodically took the house apart and thoughtfully put it back together again with care and attention to detail at every point. This home will bring great joy to a lucky new owner.

1021 Fleming Street was and remains a simple and unassuming house. The simple original structure has been sensibly updated. The interiors are white with black accents and rich wood floors. The pillars from the front porch are copied midway on the main level to support the second floor where an old wall system was removed.  The first floor ceiling is fairly tall.  A tall man will feel comfortable in all of the rooms. There is a little cubbyhole closet under the staircase. In fact, there are many closets and storage places located throughout the house.

The first view I saw when I entered the house were the French doors at the rear which open out to the pool. I really couldn't wait to see what the owner, architect, builder had created. That view is what you and your guests will see each time the front door opens. It will surely delight you every time you enter.

Let me just say the kitchen is perfect. As with the rest of the house, the kitchen is all white except for the black upper glass front panel doors and the rich wood floors. Imagine standing at the farmer's sink cleaning up after breakfast and looking out the window at the palm fronds and other tropical foliage. The garden will bring joy to your heart each time you do the dishes - a chore I hate. Or, you could walk a couple of blocks in any direction to dine at any one of many cafes or restaurants. This home is located in the center of Old Town within easy walking distance to everything that makes Key West a delight. A lot of people from all over the world save money to vacation in Key West for a week or two each year. Many dream of being able to walk out the door and stroll a couple of blocks to do this or that or the other thing. As an owner of a house, you could do just that. Anytime.

Or you could stay at home and lounge on the veranda or lay by the pool and wait for someone to bring you a cocktail or something to eat to show gratitude for having bought such a wonderful home.  The  veranda provides shade for those who need it. The Ipe deck and stone terrace offer ample areas for sunning. A surfboard has been re-purposed for use as the standard upon which the outdoor shower is located. Look about the pool. None of the neighboring homes have even a hint of a view what goes on down there. And other than the coconut palm on the north side of the pool, there are no large trees to interfere with sunning.

The garage which measures 14' wide by 18' deep sits at the far northwest corner of the lot. There is full driveway access on the west side of the house to use the building as a garage. But I think a better use might be to create a guest bed and bath or simply use the space as a poolside bar. There is water to the building. Key West code would allow an owner to improve this building where it sits. I have seen some incredible conversions of similar spaces. Since the main house has only two bedrooms, a third bedroom might work well. However, there are a couple of nearby guest houses where your guests could stay. You might opt to save thousands of dollars making a bar stocked with premium booze and have money left in the bank.

I have this theory about guest bedrooms. If you have too many or if they are too nice, you will never have your house to yourself. This first floor guest room is damned fine. I love the space. Pocket doors provide privacy when needed. The door can remain open other times and let muted sun shine through to the living room.

The master bedroom and bath occupy the entire second floor. The space is so simple and so inviting. The bed is tucked under the front gable. It's like a little bird's nest. A cocoon, perhaps. A simple place to sleep. The floors are painted white as are the walls and ceiling. The only colors come from the black stair rails and wood beams. There's a bit of gray in the bathroom where double windows look down to the pool below. Remember, no neighbors have views of this house. Curtains are not needed.There is a chandelier in the bath. It is one of four light fixtures that both illuminate and decorate the space where they hang. There is even a small sitting area tucked in under the east gable.
 CLICK HERE to view more photos of 1021 Feming Street.

Several scenes of the 1992 movie Criss Cross starring Goldie Hawn were filmed on this block. Twenty six years later the block has been dramatically gentrified. Two of the houses on this block had the highest sales prices for the year in which they were sold. I took the second floor photo (three above) a couple of years ago. It shows 1021 Fleming with the front tree in bloom. I took the middle photo a couple of days ago. That tree is full of flowers again. Such is the joy of living on a little island paradise out in the middle of the ocean. Once you are out by your pool, you may not care about anything else in front of the house or down the street. All will be right with the world..

CLICK HERE to take a 3D Tour of 1021 Fleming Street. Use the toggle button to maneuver throughout the house.

CLICK HERE to view the Key West MLS datasheet on 1021 Fleming Street which is offered at $1,475,000. Then 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, the listing brokerage for this property.