907 Washington Street, Key West - Just Listed

JUST LISTED 907 Washington Street, Key West. This 2,120 Sq Ft home sits on a huge 8,960 Sq Ft lot (80' X 112') just four blocks from the Atlantic Ocean in the Casa Marina Area of Key West. I dug down into my old shoebox and found a photo of this same home that was taken in 1965 just two years after this house was built. See below.

The listing broker describes the property this way:

"Enjoy island living in the sought after Casa Marina area. This spacious one level three bedroom two bath home has a separate one bedroom, one bath guest cottage and sits on a large beautifully landscaped 8,960 sq. ft. lot. The newly renovated kitchen has a peninsula bar with seating, double sinks, stainless appliances and a breakfast nook that opens to a separate patio. The living and dining rooms open to an expansive covered terrace and create an ideal indoor/outdoor living space. The master bedroom features a sumptuous marble bath, loads of closets and a private patio. A large heated pool is surrounded by lush vegetation and is completely private. Covered parking, a whole house generator, ample storage and an excellent location add to the desirability of this special home."

 The Casa Marina Area is named after the world famous Casa Marina Resort located  two blocks away which extends out to the ocean. While there are a few original houses that resemble the historic homes you are familiar with in Old Town, most of the homes in the Casa Marina date from the mid - 1960s and newer. Most sit on lots that are 5,000 Sq Ft or larger. There are just four houses on this particular block including a home formerly owned and renovated by author Judy Blume. Each house on this block except one has been renovated and that one is being updated at this time. Values in the Casa Marina Area continue rise year after year due partly to the size of the lots and also the proximity to the Ocean and easy access to Old Town.

Buyers who are looking for a full time home or a second residence will love the spacious covered lanai and and sunny pool. Imagine entertaining friends and family in January when it's freezing up north. I remember shoveling snow. It was horrible.

Better yet imagine walking just a couple of blocks to Higgs Beach to dine at Salute, play volleyball, or tennis or just hang out and get a tan. Louie's Backyard is a stones throw as well. You can walk or Uber to Upper Duval Street. Your friends will be so jealous.

CLICK HERE to view the Key West MLS datasheet and listing photos of 907 Washington Street, Key West offered for sale at $1,795,000. Better yet call me, Gary Thomas, 305-766-2642 to schedule a private showing of this home. I am a buyers agent and a full time Realtor at Preferred Properties Key West the listing brokerage of this home.

The Long Hot Summer in Key West

The spring and summer of 2020 have alternatively sped by and dragged on, depending on your mindset or the day of the week when my mind functioned normally. The tedium of the lock down and being forced to stay at home was moderated by the fact I live in paradise. Friends and fellow agents have shared moments of sadness, grief, woe, and dread of the future. We discussed loss of business and wondered what the future would bring - that is really an understatement! There was colossal doubt.

The reality of the pandemic set in. Then George Floyd was killed instigating the Black Lives Matter movement. Twitter exploded with videos of America under siege by police. America was experiencing chaos similar to what happened in 1968 - except this time no politicians have been assassinated.

The stock market fell. It always responds to bad new with a drop. Some investors lose their shirts and others buy low only to make huge profits on the losses of others. The stock market is back up. But the real economy, that one where average people work (or not work), is still down. Prices on everything in the grocery store are up - bread fifty cents a loaf. Bleach used to be $2.99. Yesterday it was $5.49 for store brand. I wonder how people with small children who are working can afford to pay for food, rent or mortgage and utilities.

I have had two former customers contact me to express interest in buying into the downturn in Key West real estate. It has not happened -yet. In fact, the Key West market made an incredible uptick right after people could return here. There are currently 48 single family homes under contract with an average list price of $1,068,265.

A total of 131 single family homes have closed since March 1, 2020 for an average sold price of $1,023,176. Eight of those sales were for homes that sold for an average sold price of $2,907,500. I have been a doubter of the over - two million dollar market for several years. It is real. It does exist and it has flourished in the pandemic.

But consider this. The real people that I talked about three paragraphs above are not being foreclosed upon or being evicted from their apartments or homes. What is going to happen when that federally mandated protection goes away.

And here is another thought. Sears has closed. Pier 1 is in bankruptcy and the Key West store is in liquidation. It will soon shut. The Escape Room next to Winn Dixie is gone as are many small locally owned businesses. Perhaps up to 30% of the shops, bars, and businesses on Duval are closed. When to government bailout runs out, what's going to happen? There is going to be a reckoning. On the bright side there is new construction and renovation occurring on Duval Street (see below) and throughout Key West.

Two weeks ago town was full of tourists. Last week I drove up Simonton Street toward the ocean. There were no cars past Truman Avenue. I turned east on South Street. No cars. It reminded me of how deserted South Street was after Hurricane Irma. It was scary. We have a lot of very scary things ahead of us.

Looking for a Realtor in Key West. Consider calling me, Gary Thomas, 305-766-2642. Preferred Properties Key West. 

Key West Writer's Block

I've got writer's block. I shall return. Soon!

Key West Renovation Inspiration

Earlier today I was clicking through Instagram photos until I saw the photo above. I stopped and took notice. I thought to myself "Self, this could work in Key West".  I clicked  back through the link and found the Instagram feed for the designers of this property. CLICK HERE to view more photos of this property and other projects of chensuchartstudio.

I borrowed a few photos from the designers which show the concept, framing, wrapping, and finally the completed addition.  This home was built in Arizona which is high desert and does not have the heavily seasonal rains we get in Key West. The house has no gutters nor water diversion that I can see. It is the concept of twin-like additions with a combination of wall to wall and floor to ceiling glasss doors and windows that just that awed me. 

The first photo shows the framing of the addition at the rear of a twentieth century bungalow that looks to be about 900 square feet in size. The original gabled roof  off the living room was extended to provide a large covered patio. The new wall-to-wall and floor-to-ceiling doors and windows were added at the rear of the living room. The new master bedroom addition was similarly framed and has a wall of windows and door opening to a private covered rear patio. A separate large window has views out toward the common area. 

In Key West a pool would be placed where the dog in the photos is napping. A pool or fire pit would require a lot deep enough to comply with building code setbacks. Many Old Town lots are too small to allow a pool of any size. Lots in other parts of the city are often 5,000 sq ft and larger and might work well with this kind of renovation. Fixer houses on lots large enough to do a project like this would be over $500,000. Add the cost of renovation and pool installation the finished property would be around a million dollars. That's not bad for Old Town or Casa Marina. But the renovated house would be over-priced in other parts of Key West. Regardless, I would love to see someone do a project like this. It looks awesome.

Looking for  a project house? Consider calling me, Gary Thomas, 305-766-2642. I am a buyers agent and a full time Realtor at Preferred Properties Key West. 

617 Frances Street, Key West - Price Reduction

The asking price was reduced $100,000 on 617 Frances Street, Key West. I had the opportunity to see this Old Town home just before it was listed and want to share some photos and thoughts with my readers - especially those looking for a fixer-upper.

I love how much the houses of Old Town have changed so little over the years. I found the above photo of 617 Frances St in my old shoe box. Take a look. When I found the photo I presumed the owner at that time had replaced original wood columns and balusters with wrought iron. That was a common practice across Mid-Century America. Chain link fences were equally popular and required less maintenance than painted white picket fences.

I then searched the Historic Sanborn Fire Maps to see if I could determine when the house was built. The lot where 617 Frances Street sat vacant up to and after the 1912 Map. I went to the Monroe County Property Appraiser website which shows the property to the rear at 618 Ashe Street had a house on that lot. I compared the Sanborn Map to current Property Appraiser Map which shows 617 Frances and 618 Ashe perfectly aligned. There was a small cottage sitting mid distance at what would become 617 Frances. I am confident that the current house did not exist as of 1912. I decided 615 Frances must have been split to create the new 617 Frances Street after the 1912 Map. A small building sat at the rear which I believe was incorporated into the building which is now 617 Frances.  The Property Appraiser records show the house as having been built in 1933 which we know is not correct as that was during the Great Depression which slammed Key West. This suggest the house was built after 1912 and before the WPA reconstructed the property records. My guess.

The house sits on a 3,060 sq ft lot (34' X 90') on one of the best blocks in Old Town. Most but not all of the houses on this block have been extensively renovated. 614 Frances Street was totally renovated when it sold in 2016 for $1,825,000. 620 Frances St sold in 2018 for $1,825,000.  The house to the rear and immediately south of  at 620 Ashe Street sold at $1,900,000 in 2019. I mention these sales as they indicate the price trend for renovated homes in this immediate area.

617 Frances Street is a place of possibilities. It is a true renovation project. I walked the entire lot and all around the inside of the house. The exterior needs work. The interior has been pretty much gutted so that a potential buyer can see what exists and what does not. Don't let the interior or exterior condition intimidate you. Most interior walls will be removed and re-situated to meet modern day needs. The exteriors will be scraped, sanded, and repainted. The decks will be removed and replaced and maybe a pool will be added.

There are five foot side yards on the north and south sides of the house. There is a small shed at the rear which abuts the property line. Existing set backs are grandfathered. Some people expand these sheds to create pool cabanas.

The long narrow building at the rear may have been the "Dwelling" unit sited on the 1912 Map. The French doors painted black and the elevated wood deck were probably added in the 1970's or 1980's. They were not used in Key West houses before then. The windows in the front part of the house appear to be original. They have the old fashioned rope sashes.

This is  one and one-half story vernacular house found in many parts of Old Town and The Meadows area. The Property Appraiser says the house has 1,300 sq ft of living space. You enter into a hallway that passes an original parlor which has been opened and pass by what is now the kitchen. A door at the end of the hall opens into what I presume may have been the original Dwelling. It is long an narrow and has a high pitched roof that has been partially exposed at the entry. I can envision this room being made into an open living area with kitchen and dinging space included. I am familiar with another house on Grinnell Street that had this same size room and in just about the same condition that became a truly wonderful living space. I think the current deck could be replaced by a pool and that the rear cottage could become the laundry and storage room. Don't see what exists. Imagine what you could create. I think the parlor and kitchen could become first floor master bedroom and bath room. CLICK HERE to see all the photos I took.

The original chain link fence still wraps the entire lot including the front white picket fence which is attached to the chain link. I think there is adequate ground to comply with pool setback requirements.

There are two bedrooms on the second floor which share the only bathroom in the house.T here used to be a bathroom on the first floor but the current owner removed it.

This is a wonderful block in Old Town with appreciating prices on restored homes. I blogged about the newly renovated house across the street at 614 Frances. It quickly sold at  $,1,825,000. I found photos I took from the porches of 617 and 614 Frances looking opposite.They contrast potential with perfection.

CLICK HERE to view the Key West MLS datasheet on 617 Frances Street, Key West now offered for sale at $895.000. Then please call me, Gary Thomas, 305-766-2642, to schedule a private showing. I am  buyers agent and a full time Realtor at Preferred Properties Key West.