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Sunday, August 21, 2011

914 James Street - Old Town Key West - Short Sale


The very interesting home at 914 James Street located near the Key West Historic Seaport is back on the market as a short sale. The house was listed in early February and quickly went under contract. For whatever reason, the property is back on the market. I have shown this property several times and I think it could make a wonder Key West getaway property for some lucky buyer. The listing Realtor describes the property this way:
"This 2 bedroom, 2 bath Old Town home has a large pool, open living space, and a bonus sleeping loft.Lender approved at $402k with buyer bringing additional 5k cash for 2nd lender. Home sits on a large lot ( for Old Town Key West), and has a very comfortable flow. Buyer to pay 1 % of contract sales price to short sale processor. Seller is a licensed Fl. sales associate, but not the listing agent. Exclusions to sale are bathtub outside, 2 chandeliers and sink and vanity in back bathroom. This is a potential short sale."

Sellers don't often exclude the bathtub, but in this instance I see the reason. It is located just outside the great room on the edge of the deck near the pool. Out door showers (and tubs, I guess!) are among the reasons to live in Key West where one can bathe outdoors just about every day of the year.

The house itself needs to be seen to be understood. The owner has divided the space to accommodate a roommate that lives in the front of the house. That part of the house has a formal entry with a staircase to a small second level loft that could be used for an artist lair, writer's workspace, exercise room, or sleeping loft. A new kitchen overlooks James Street. That area is followed by the living area and bath at the rear. The bedroom is to the right. A doorway at the rear of this space opens into the back portion of the house where the current owner resides. (That door is functional and this is a real functioning doorway for now.) One enters the great room and view a set of French doors at the far opposite end. This room has a tall vaulted ceiling that gives the area a spatial feeling, yet the wood walls and windows with view of palms and sky give the same area an almost 'cabiny' feeling-in Key West. Another bedroom is located just to the right of the entry. The bathroom is located to the left. A small butler's kitchen is at the rear left.

There is a nice sized pool at the rear that is surrounded by a wooden deck on four side. Large trees frame the back yard but the space does get sunshine as well.

A new owner would probably ditch the roommate and reconfigure the living areas to fit a more conventional lifestyle. I don't see this place as costing all that much, but I am not a contractor. Too often new owners get way to excited about what they feel 'needs' to be done and end up spending way too much money. Removing the door between the two living areas would be a great place to start. A new owner could live in the area for a few months and then decide what might work better. This place isn't broken. So I wouldn't worry about fixing it. Eventually some work will assuredly be done, but I don't think this house needs a budget breaker redo.

CLICK HERE to view photos I took of this property that is now offered as a short sale at the asking price of $410,000. Re-read the listing comments:"Lender approved at $402k with buyer bringing additional 5k cash for 2nd lender." And you can view the Key West mls datasheet on this property.

CLICK the GOOGLE MAP for a aerial view of the area and use the toggle switch to view the street. The City of Key West has a big old parking garage across the street. You can view that as a negative or a positive. I see it as being a quiet neighbor. The Historic Key West Seaport is one block to the north. And the rest of Old Town is within easy walking distance from this location. CLICK HERE to view the Key West mls datasheet on this property.

If you would like to see 914 James Street please contact 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.

Saturday, August 20, 2011

2521 Fogarty Avenue - Mid Town Condo - Key West - Bank Owned


2521 Fogarty Avenue - Key West
I don't get excited very often about properties in the Mid Town area. The new listing (not mine) at 2521 Fogarty Avenue which is Bank Owned is the exception to my rule. The listing Realtor describes this very affordable three bedroom property with a pool this way:
"Bank Owned. Spacious three bedroom, two bath condo in Mid-Town Key West. Ground level unit has no stairs, private entrance and off street parking. Granite counter tops in kitchen and both baths. Travertine floors in den, kitchen, laundry room and both baths. Carpet in all three bedrooms. Central air & ceiling fans. Washer dryer hookup. All offers must be accompanied by pre-approval or proof of funds letter."
This three bedroom two bath condo has 1199 sq ft of living space on one floor. The living room,dining area, and kitchen are open. A center hall on the opposite side leads to the three bedrooms. Two large bedrooms share a very large bathroom. The master bedroom has an en-suite bath. The bedrooms are carpeted and the carpet needs to go. The rest of the rooms have travertine marble floors. All windows and doors and everything on the inside is new. Other than the carpet, I did not notice any deferred maintenance. 2521 Fogarty Avenue is offered at $192,500 or just $161 per sq ft.


I encourage interested buyers to CLICK HERE as well to view photos I took of this property as well as some prior photos when the property was occupied. This property is owned by a local Key West lender. At a price this low and with a property this nice, I think this property will go under contract very quickly. I would not wait on this. Seriously.


There is a shared pool at the rear. It's not very big, but it's very charming. The unit has a large laundry room and an off street parking spot. And the unit has its own outdoor space complete with bricked mini-terrace.

If you would like to see 2521 Fogarty Avenue please call 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.



Friday, August 19, 2011

1127 Von Phister Street - Casa Marina Area - Key West - Won't You be My Neighbor


1127 Von Phister Street - Casa Marina Area - Key West
Preferred Properties Coastal Realty, Inc. (that's where I work but this is not my listing) just listed 1127 Von Phister Street in the Casa Marina Area of Key West. I know this area quite well as the house is located about half a block away from my home.

There is a beautiful two-story double galleried home is one of the prettiest properties in the Casa Marina area. It has great curb appeal and splendid gardens. There is a master suite downstairs. Upstairs there are two guest rooms with a balcony on the front and a deep sun deck on the rear that overlooks the heated swimming pool. The recent renovation includes a beautiful new kitchen inside and an outdoor kitchen. There is also a half bath and an outdoor shower poolside. This beautiful home is offered at $1,295,000. CLICK HERE to view the Key West mls datasheet and to view listing photos.

The house is a five minute walk or take a bike ride to the Atlantic Ocean and the beach. This is the real deal my friend. And the good thing is you won't have any sand in your feet by the time you walk back home. Of course you can ride your bike or drive your car or scooter.

The Beach
You can walk or ride your bike to Duval Street in about five minutes. Or you could go to the shops on White Street like Faustos or go to the Island Gym (2 minutes) or you can grab a cafe con leche at any of the several neighborhood joints. You can be at the Historic Key West Seaport as fast on your bike as in your car (if you consider parking in your travel time) (5 minutes). And you can be in the Key West suburbs at the shopping centers or leave on a jet plane (we got 'em) at the Key West International Airport (that name always cracks me up!) in about 5 to 7 minutes depending on traffic.

Fausto's on White Street - has an old fashioned butcher
Island Gym on White Street - all welcome
The location is not only convenient, but also very quiet. We don't have a lot of tourists on our little street. And we don't have lots of apartments or guest houses or commercial activities things that attract locals from all parts of town. You kind of have to want to go to Von Phister Street for a reason. You don't just end up there on your way to someplace else. If you have a dog, you will likely meet your neighbors on their morning or evening walks. Von Phister, like most of the streets in the Casa Marina Area, is tree lined but has no sidewalks. Some locals often meet up at Higg's Beach while the dogs run around like little kids. Others take their pets over to Doggie Beach for a quick dip. It isn't the country, but the country doesn't have the Atlantic Ocean four blocks away.

If you would like to see 1127 Von Phister Street or any other house in Key West, please consider working with me, Gary Thomas, 305-766-2642 (or by email at kw1101v@aol.com). I am a buyer's agent and a full time Realtor at Preferred Properties Coastal Realty, Inc. in Key West. I live in the Casa Marina Area and love it.


Wednesday, August 17, 2011

A Truth about Living in Key West



I love living in Key West. You can be who you want to be and love who you want to love. Nobody, other than the guy who parades around town with his anti-fag sign, cares what you do or who you sleep with. Gays and straights and rich and not rich mix at work and at play with ease. We have a lot of people that have moved here from all over the world. There are good people and no so good people. The bad people sometimes give the rest of us a bad name.
I was eating dinner last week when I got a phone call from a couple that recently bought a Key West dream home from me. They had a shiny new convertible delivered to their Key West house a couple of weeks ago so that they could have transportation whenever they make it down. A nephew drove the car down and parked in under the carport to protect the paint from our harsh sun. He left the keys inside the house.

A week later the couple were contacted by the Key West police. Their car had been involved in a hit and run accident a couple of days earlier, long after the nephew who delivered the car had returned to his home. Someone had got inside their house, found the keys, and went out and managed to smash the front end and the back end into a parked car on a side street a mile away. Mysteriously, the car was brought back and parked exactly where it belonged. A big chain was looped to keep the trunk from falling off the car.

I asked the obvious question: who had keys to the car?. The couple did not know. They said that workers who were doing some interior work on their house had keys to the house as did the pool man. My mind raced back to several prior conversations I had with the lady. She had told me about her Key West hair dresser who she loved. When we were looking at houses she would ask me about places he had recommended. I drove to one such place to take photos. I didn't waste any bytes on my camera. It was the antithesis of what we had been looking at.

I don't know why it is, but it is a fact that many potential buyers trust people they meet on bar stools (or in this case in a salon chair) more than they trust Realtors. I have had several buyers tell me about recommendations they have received from locals they have met in bars. Complete strangers that have told them what to buy and what to avoid or who to hire as a contractor.

After several months of looking at various properties, my buy buyers bought a great place. They hired a decorator to develop a color scheme and design plan. My buyers relied on the hairdresser's recommendation of a friend who they hired to do some minor fix-up and painting.

My buyers asked me if I would go to their place after dinner and look at the car and then remove the key to the lock box outside the front door of the house. I said I would. I was so upset I couldn't finish my meal. I immediately drove to the house and found the new car. All four sides of the new car had damage. The damage is repairable. That's not the point. My buyers had been violated by someone that had access to the inside of their house. They gave access to people they trusted. I took photos of the damage and then went to the front door to get the key. It was not there.

I got on my phone and called the owners. While we were talking this guy walks down the sidewalk and turns to enter the front yard. He was in his 30s or 40s and had an open beer in hand. He had that just-off-the-streets-of-Key-West look. I asked "Do you live here?" He replied "I'm doing work for the owners." I told him I was the owners' real estate agent and that they sent me to fetch the key. It was just near sunset and dark was approaching. He reached in his pocket and decided he did not have the key. He said to wait a minute and then walked to the side to make his way to the back of the house. Several minutes elapsed. I knocked on the door. No answer. I talked with the owners who were now mildly distressed and suggested that I go home. The gent said he would come down and sort things out. Then the would-be painter opened the front door and said to come in. The house which had been freshly painted reeked of cigarettes. The air conditioner was on so high I felt chilled. The new big screen TV was on as were all the lights inside the house. It was obvious the painter had moved in-to stay.

I asked the painter "Do you know how the car got damaged?" to which he replied "No." He turned away and walked toward the pool and jerked his hands to his head. He grabbed his hair and asked me to get out and come back in five minutes. He needed time to think.

I went back outside and spoke to the owners. I decided it was best for me to leave before this guy went completely insane. I had asked two questions in a calm and polite voice. I made no accusations in the tone or words. The guy, however, seemed over whelmed by the thought of having to leave his new house.


Many local real estate offices provide property management services. If you plan on renting your property, consider using a licensed and insured property management company. Hire licensed contractors who won't move into your property or drive your car when you are not around.


Tuesday, August 16, 2011

Key West Golf Course - Bank Owned - Great Price


Newly listed, but not by me, Key West Golf Club two bedroom town home with a great view. This 780 sq ft town home is bank owned and priced to sell at $199,900 or $256 per sq ft. That is the lowest price per sq ft on a non-short sale property.


Downstairs you will find the small but efficient kitchen and open living and dining area that flows out to the deck which has great golf course views. Upstairs there are two bedrooms with vaulted ceilings that share a bath. This house has storm shutters for all windows and doors. There is a big side yard on the west side of the house. Both the side yard and back yard have a sprinkler system.


This place needs a fresh paint job and the stairway and bedroom carpet replaced. Other than that, the place looks pretty much ready to move into.

If you are looking for an affordable starter home in Key West, you might just want to take a look at this property with me, Gary Thomas, 305-766-2642. I am a buyer's agent and a full time Realtor at Preferred Properties Coastal Realty, Inc.


Saturday, August 13, 2011

Las Salinas Condominium Unit 112 West - Key West

I've been to Las Salinas three times in my life. Once was a few years ago during Realtor caravan. (That's when local agents preview new listings.) The second and third times were this week. I am showing properties for another agent who is out of town this week. I was very pleasantly surprised at how nice (and affordable) Unit 112 West is and decided I wanted to share my impressions with you. On June 3rd I wrote about a possible double dip in the recession and stated "I have never shown a unit at Las Salinas and won't. I wouldn't want a buyer of mine to buy there." About 20 readers added their comments, most of which were negative. I must admit I wrote without knowing what I was talking about. I should run for Congress.

The listing Realtor describes Unit 112 West this way:
"This may well be the nicest 2/2 available in Las Salinas. Granite counters, Stainless appliances. Basically a completely new unit. Comes with deeded covered parking. Location is great in the condo project and Las Salinas is extremely convenient to the beaches and shopping center areas."

New Kitchen, New Appliances, New Lighting and Clean Everywhere


I did a quick comparison to the other units currently available at Las Salinas and found that other units are priced less on a price per sq ft basis and that a similar sized unit with a better view but which has not been recently updated costs much higher on a per sq ft and real dollar basis. I have not been inside the other units. I suggest a potential buyer look at several and then determine which works best as far as price, location, view, and most importantly how the units compare as to functionality. If you think about it, moving into a place that appears all new has to make you feel better than moving into a place that you feel you need to paint or repair to make it more livable. Unit 112 West is offered at $229,000.

This unit has a Deeded Covered Parking Space

There are currently 15 homes, condos and townhomes for sale in Key West that are priced under $250,000. CLICK HERE to view the Key West mls datasheet on this unit. And CLICK HERE to see the rest of the photos I took of this unit. This building is about a five minute walk to the South Roosevelt esplanade. You will see walkers, joggers, skaters, bicyclists, and more doing their thing along the scenic waterway. Yes, the ocean sometimes smells. But most of the time it is a scenic delight.

If you would like to see this property or any other property in Key West, 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. Las Salinas Unit 112 West is worth looking at.



Friday, August 12, 2011

1005 United Street #B - Casa Marina Area Townhome - Key West

Just listed by Preferred Properties (that's where I work but this is not my listing), 1005 United Street #B which the listing Realtor describes thus:
"Centrally located Townhome on the borderline of Old Town and Casa Marina. Exquisitely appointed 2 bedroom 2 bath with soaring ceilings. The Main level consists of an open floor plan complete with gourmet kitchen, built in library and French Doors leading to your own covered porch overlooking the pool. Upstairs are two large bedrooms with wrap around terraces and an outstanding slate tile bathroom with a new jacuzzi tub. Custom closets throughout. One off street parking space. Not a drive by."
This unit is big and really, really nice. It has lots of room to live in and all of the living spaces are nicely finished. This is a place you will be proud to call home-even if it is to be used only as a Key West getaway. This home is one of three that share a pool so it is called a townhome for purpose of that pool. The annual pool maintenance fee is just $500. Otherwise, the homeowner pays all of his or her building maintenance, insurance, and other costs of home ownership just as in a typical house.

This home has 1272 sq ft of living space divided between two floors. Downstairs you will find a dreamy kitchen with large open pass through to the dining area which flows into the living room. The ceiling height downstairs is 10'. The living room has two sets of French doors with overhead transoms. The living room opens to a decked pool, and there is a generous decked front court yard.Upstairs you will find two very large bedrooms. Both bedrooms open to a wrap around balcony leading to a covered porch overlooking the pool. The high ceilings, custom kitchen and designer details make this home a standout!

I suggest that potential buyers that are looking a townhomes and condos in Truman Annex priced in the $500,000 to $600,000 range take a look at this place for comparative purposes. This unit is probably going to be a lot larger and have more high-end features than you will find in most units in Truman Annex. And instead of sharing a pool with 19 or 67 or 176 other units, you will only have to share the pool with two neighbors. Oh, and parking is just outside and not half a block away. It is worth looking at and considering.

1005 United Street #B is offered at $589,000. CLICK HERE to view the Key West mls datasheet and to view listing photos. Better yet, 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.


Thursday, August 11, 2011

Price Reduction - 820 Windsor Lane - Key West

820 Windsor Lane - Old Town - Key West

Today I am once again writing about the really cute little house at 820 Windsor Lane in Old Town Key West. This property is listed by Preferred Properties. That's where I work, but this is not my listing. The asking price was just reduced to $398,000 or $324 per sq ft. The listing Realtor describes the property this way:
"Location & Charm. Two-story conch home on a corner lot in a great old town neighborhood, this property offers original historic details with an attractive floor plan: guest bedroom and bath are downstairs while the master bedroom and half-bath occupy the entire upstairs. Features include high ceilings, Dade Co. Pine walls & floors, spacious rooms and an open kitchen with breakfast bar. Front porch, a private deck and a bricked patio provide outdoor living. House is owner-occupied and all systems function, but it's rough around the edges and is a good candidate for a major renovation."

In his book The Streets of Key West: a History through Street Names J. Willis Burke says Poorhouse Lane got its name because "a poorhouse was once tucked away there". I found another of those old photos that show how this property looked like in 1965. Poorhouse Lane is denoted by the unpainted vertical fence on the opposite side of the house. See the photo below. Now look at a similar photo I took in December 2010 looking in the same basic direction. With the overgrown trees and cars it is hard telling it is the same place. But it is.

820 Windsor Lane circa 1965 - Poorhouse Lane is denoted by the vertical unpainted fence

820 Windsor Lane as it appears in 2010 hidden behind the foliage

820 Windsor Lane is a two bedroom two bath home that sits on a good sized 40' x 50' lot just across the street from the Key West cemetery. Click GOOGLE MAP for an aerial perspective of the location. The street view is inaccurate as it shows only the fence on Poorhouse Lane. St. Mary's Catholic Church is located two blocks to the south at the corner of Windsor Lane and Truman Avenue (that's where James Bond parachuted to the church to be best man at his friend's wedding). Bill Butler Park is a short one block walk at the west end Poorhouse Lane. I must confess the City of Key West ought to spend more time and more money to maintain this potential gem.

Poorhouse Lane ends is one block long and ends at Bill Butler Park
Bill Butler Park
The Historic Key West Seaport is a five or six minute walk to the north. I mention that not because a lot of potential buyers have boats or plan to go on fishing trips or sunset cruises, but because there are many great restaurants there. I love Harpoon Harry's for breakfast and lunch (great "real" hamburgers). A lot of friends are wild about the Half Shell Raw Bar located on the water's edge.

You can walk to Duval Street in about five minutes. The fact is you can be just about any place in Key West within ten minutes by car. You can be most places in Old Town by foot or bike in about the same time. And it is that convenience that makes a location like 820 Windsor Lane so appealing.

Front room used as an office or second bedroom

Open living, dining and kitchen

Master bedroom and open bath

This home has a very Old Key West feel. All rooms are natural (unpainted) Dade County Pine walls, ceilings, and floors with all windows and doors painted white. The window panes are old and the glass has 'stretch marks' that show their age. There front room downstairs does double duty as an office/den and second bedroom. There is a full bath on main floor. The living room, dining area, and kitchen are one big open space with lots of windows. The master bedroom and an open bath occupy the entire second floor. There front porch has view of the Key West cemetery. The side and back yards are private and spacious. But there is not room for a pool.

CLICK HERE to checkout the current Key West mls datasheet on this property and to view more listing photos. Or you can CLICK HERE for a slide show of more photos I took of this property. Better yet please call me, Gary Thomas, 305-766-2642 to schedule a showing of this cute Conch Cottage. I am a full time Realtor at Preferred Properties Coastal Realty, Inc. in Key West, Florida.

Disclaimer

The information on this site is for discussion purposes only. Under no circumstances does this information constitute a recommendation to buy or sell securities, assets, real estate, or otherwise. Information has not been verified, is not guaranteed, and is subject to change.
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