1320 South Street, Key West - Bank Owned with Price Reduction

Buyers are always looking for lower prices. The asking price on 1320 South Street in Key West was just reduced today to $1,699,000. The new price is $100,000 less than when it was listed on February 26th. The listing Broker describes this Bank Owned home this way:

"Beautiful, updated two story home centrally located in Midtown Key West. This 3 bedroom, 4 bath home offers high-end amenities to truly enjoy the Key West lifestyle. Tiger Wood flooring throughout the home as well as custom cabinetry and a wet bar. Amenities will not disappoint with this home. Includes a grand outdoor pool with water feature as well as a balcony on the second story. Open the French doors and enjoy cool breezes throughout the property. Home was built in 2008 using resilient Hardi plank siding. Includes impact windows/doors and includes 2 zone central air conditioning. Spacious and designed for easy use, this home will not disappoint in bringing Key West dreams into the household."

This home was built new in 2008 and replaced a much smaller home that previously occupied this lot. I dug into my old shoebox and found a photo of the old house. The new place looks nothing like it. The neighborhood as a whole has changed as well. Most, but not all, of the smaller mid-century houses that dot this area have been replaced. The Thompson Estate is located across the street and to the west. Thompson was a buddy of Ernest Hemingway.  I remember showing the Thompson property many years ago and marveling at the huge animal trophies on the walls.

The 3220 sq ft home sits on a 4939 sq ft lot. The facade looks like two houses were joined together to make one large home. That's not the case but the architecture is quite striking. There are three bedrooms each with en-suite bath plus a fourth bath on main floor. The great room is extra large and has doors that open out to the pool and rear deck. The adjacent family room with wet bar also opens out to the pool. Rich Tiger Wood floors are located on both floors of the house. 

 The custom kitchen has about every high-end kitchen appliance that Viking makes including a gigantic range, double door refrigerator, ice maker, dishwasher, and wine cooler. There is abundant storage everywhere. The back side of the kitchen island is extra high and provides a rich environment for casual dining.

The main floor bathroom is adjacent to the wet bar in the family room. The full bath also includes hook-ups for washer and dryer. There is a second washer and dryer on the second floor. The house is wired for stereo throughout and there is also a central vacuum system.

The house has Hardiboard siding, 2 zone central air conditioners, impact windows and doors, custom built pool and waterfall with grotto surrounded by IPE decking and built-in custom bench. The yard is fully fenced and accessed via large electronically operated gate.

Both guest bedrooms are very large. Each has a large walk-in closet located adjacent to the en-suite bath. In fact they are the size of a master bedroom in most other Key West homes. The hallway between the two bedrooms is lined with more closet space. The second floor laundry is tucked away behind one set of doors.

This house appears to be in really good condition. I did not notice any deferred maintenance or see anything that was broken. The house is painted white throughout. That's probably the one thing a new owner might want to change. It's easy. It's fun. And it's not very expensive. CLICK HERE to see more photos I took of this lovely home.

1320 South Street is now offered for sale at $1,699,999 or $527 per sq ft. CLICK HERE to view the Key West mls datasheet and listing photos. Then please 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.

A Most Horrible Day

Now we have to grieve for the lives that were taken. 

How many more lives are going to be lost?

25 Sea Lore Lane, Shark Key Florida - Bank Owned Waterfront Home near Key West

Shark Key is a small island peninsula which extends off US 1 into Florida Bay on the Gulf of Mexico side of the Florida Keys. Shark Key is a gated community with 74 waterfront lots about half of which are actually built. There is a large swimming lagoon, tennis courts, and community center surrounded by lush tropical foliage, flowering trees, and magnificent specimen palms. Most of the homes on this island sanctuary are large villas compared to the small cigar maker cottages and conch homes located about seven miles down the road in Key West.

The listing Broker describes the newly listed Bank Owned waterfront home located at 25 Sea Lore Lane this way:

"Wonderful location, facing the Easterly breezes in this unique and upscale gated, waterfront community. Shark Key is a peninsula jotting out from US-Hi Way 1 into the Gulf of Mexico. Enjoy the gorgeous sunrises and romantic moon rises with star filled nights from your private deck & heated pool. Tropical, mature landscaping all around home provides privacy and pleasant views from every window. For your vehicles there is a brick paved driveway, 3 car garage, and plenty of additional off street parking. A spacious Clubhouse with kitchen, tables & chairs and wide wrap around, covered decks facing the waterfront is available to residents. Enjoy the covered picnic area by the Swimming Lagoon, it is a beautiful setting. The two tennis courts are adjacent to Clubhouse. Shark Key is located 11 miles from down town Key West, it's the best of two worlds, a private island bursting with tropical landscaping, lagoon, beautiful waterfront homes and a short drive to Key West." 

I had the opportunity last week to show this home to potential buyers. While it did not meet their needs, it may be of interest to someone reading this blog. The 3023 sq ft home is situated on a large 14,968 sq ft lot over looking the open waters of Florida Bay. The house has 4 bedrooms and three baths. The master bedroom is located on the first floor next to the living area and shares part of the deck that looks out to open water.

Front entry proceeds to the great room. Sliding doors open out to the covered deck.

Pool views from the great room with open water to the rear

Dining area located adjacent to the living area with kitchen in foreground

Master suite located behind the mirrored wall

The great room, kitchen-dining area, and the master suite are all located on the east side of the home where each area has great water viewing opportunities.  The deck traverses the entire back side of the home. About half the deck is covered while the remaining spaces provide areas for sunbathing or entertaining. 

There are three tiki huts on the grounds with two located near water's edge and one in the front off the gated private entry. The tiki huts add to the tropical allure of this home. I am confident this once grand home can be easily be restored to its former self. The interiors will need painted, the decks will need some sprucing up, and the landscaping will need some judicious pruning. But when the work is done, the inside and the outside will look just great.

This is a really big house by Key West standards.  It will provide a new owner with four good sized bedrooms to meet the needs of a real family with growing kids. The first floor guest room would make a great living space for an older parent living with the family. That bedroom is located above the two are garage and is set off by itself which provides additional privacy. The kitchen is really large and will provide abundant work space for food preparation and clean-up. The outdoor area will give adults and children alternate places to enjoy their time outside.

As the listing broker pointed out, this is a gated community of exclusive waterfront homes which share the usage of the private swimming lagoon, tennis courts, and clubhouse. There is a key pad operated gated entry. The beautiful private roadway is maintained by the home owner association. The monthly hoa fees are $400 and cover common area maintenance, security, and management.

CLICK HERE to view the Key West mls datasheet and listing photos of 25 Sea Lore Lane on Shark Key which is offered at just $999,000. Other active listings on Shark Key run from $1,775,000 to $6,450,000. Then please call me, Gary Thomas, 305-766-2642, to schedule a private showing of this bank owned home.  I am a buyers agent and a full time Realtor at Preferred Properties Key West. This truly is a buying opportunity.