Sweet Elizabeth - Old Town - Key West

This is the end of season deal that you have been waiting for. It will last about a New York minute and then some smart buyer will get it. I kid you not!

Just listed, but not by me, this beautiful newly remodeled and expanded home on Elizabeth Street near the tippy-top of Solares Hill (we are talking a couple of inches difference) in the very Heart of Old Town Key West. This house has it all. This is how the listing agent describes this home sweet home:

"Opportunity know in the door for this totally remodel home was awarded the Certificate of Excellence and a Silver Star for 2010 where you will feel the attention to details from the moment that you step inside.The entire house has Brazilian Cherry hardwood floors. There is central HVAC throughout the house and all rooms a wired with cat5 cable for phones and computers. A salt-system pool with a waterfall was installed in the back yard and a propane valve is available for your backyard grill. The kitchen has all stainless steel appliances.The house is located at the intersection of Elizabeth and Angela Street. This is the highest point on the Island and flood insurance is not required."

This home is priced to sell at the asking price of $985,000 or $415 per sq ft. And it will. Here is what you get: 2373 sq ft home consisting of three bedrooms with two and 0ne-half baths. (Two bedrooms down in front with a shared Jack-and-Jill bath.) The living area and kitchen are located at the rear of the house where you will find French doors that open onto the read deck and pool with waterfall. Up the beautiful staircase you will find the master suite with views of the pool below and towering views looking eastward over the treetops. There is no off street parking. Elizabeth Street is a residents only street for parking. CLICK HERE for info and lots of pretty pics.

To see this house of get more information please call me, Gary Thomas, 305-766-2642 or email me at kw1101v@aol.com. I am a full time Realtor at Preferred Properties Coastal Realty Inc., the Exclusive Lower Florida Keys Affiliate of Christie's Great Estates.

I'm serious on this house dear Readers. This is place is beautiful and it will get snapped up in a matter of days if not hours. Don't mess up. Don't wait. Don't be late.

1304 Atlantic Drive - Bank Owned - Key West

The Beach is about one block south of 1304 Atlantic Drive in Key West

Just Listed, but not by me, another Bank Owned townhome, this time located at 1304 Atlantic Drive near the beaches in Key West, Florida. This is how the previous agent described this property just weeks ago when it was still a "short sale"

"Gorgeous top of the line new construction! Stainless steel Thermadore appliances, wood floors through out. Wired for sound system. Hurricane lock windows and doors, with storm shutters to boot. This home has it all with French doors opening to deck and pool. Less than a block to the ocean and a short walk to the Casa Marina. In area of multi-new homes. Does not get better than this! Owner is a FL Lic RE Broker. Emphasis added by Gary Thomas.)

CLICK HERE to see how the new listing Realtor describes 1304 Atlantic Drive now that it is Bank Owned and bother yourself to look carefully at the photos. 1304 Atlantic Drive is priced at $695,000 or $356 per sq ft. Somethings are missing from the kitchen. Where in the World did Waldo put them and What did he take? HINT. Otherwise, the units are pretty much the same. You be the judge.

Two other units are also on the market. CLICK HERE to see 1312 Atlantic Drive which is offered at $995,000 (at $510 per sq ft) and CLICK HERE to see 1314 Atlantic Drive priced at $1,099,000 or $564 per sq ft.

1304 Atlantic Drive has the same square footage and lot size as the other, higher priced units. All units have 1950 sq ft and have 3 bedrooms plus 3 1/2 baths. Perhaps 150 feet separates the three properties. All of these units were built in 2008. 1304 Atlantic Drive has been used as a vacation rental. The Atlantic Ocean is a five minute walk even though it is located only one block to the south. There is no direct access so you will need to walk a block out of the way to get to your favorite new beach spot. If you don't like sand in your toes and the sting of salt water on your skin, you can swim in your own pool.

The bank that owns this property is a local bank in Key West so I think an offer should get prompt and fair consideration. If you want to see this unit, or any other property in Key West, please contact me, Gary Thomas, 305-766-2642 or email me at kw1101v@aol.com. I am a full time Realtor at Preferred Properties Coastal Realty, Inc. Stop dreaming and start acting on it.

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3814 Flager Avenue - Riviera Canal - Bank Owned - Key West

3814 Flagler Avenue on the Riviera Canal - Bank Owned - Key West

Very Brady Family Room with Fireplace Opens onto Kitchen with Pool Beyond

The Informal Dining Area is on the Near Side and Family Room on Far Side

The Pool is accessed from Family Room, Master Bedroom and Alice's Room

I have shown 3814 Flagler Avenue several times. Each time somebody says something like "This reminds me of the Brady Bunch house". You can look at that as a good thing or a bad thing. But there is a reason the Brady Bunch is ingrained into our minds. No matter how icky-wholesome the Bunch was, we all watched them. Part the aura of the Brady Bunch show was that damned house. It was a character as well. The exterior facade was seen in every episode. The house was a late 1960's split level that in real life was quite small, but in TV life it had large open rooms with vaulted ceilings and brightly colored walls. There was an openness to the house and the characters who lived inside. The interiors and colors, just like the haircuts and clothes the characters wore, are that of another era. So when today somebody says a house looks like the Brady Bunch house, we all get it-exactly.

3814 Flagler Avenue is Bank Owned. And the bank (credit union to be precise) that owns this house is actually in Conservatorship itself. So there is a real reason this bank owned house needs to be sold. Soon! The listing Realtor describes this house this way:

"Bank owned property. What a steal! Bring all offers! Don't miss this rare opportunity to own a Waterfront 5BR, 3BA home in Key West. Tremendous potential with 3,109 sq ft of living space, a 14,175 sq ft (1 and 1/2 lots) piece of property with huge pool and lots of extras. These amenities include a large two car garage with workshop area, eat-in kitchen, great room with fireplace, formal dining room, spacious living room, laundry room, walk in pantry, cedar lined closets, 2 zone air conditioning, tile floors, new metal roof, and gated second driveway for additional off-street parking. All on a wide protected canal with 105 ft of step down sea wall and easy access to open water. This special home can be your piece of paradise!"

Did you get that: five bedrooms. And they are not dinky. The master bedroom is very large and has an en-suite bath plus two large walk-in cedar lined closets. The master bedroom is at the east rear of the house. It has a nice view of the pool and the Riviera Canal beyond. There are three more large bedrooms on this side of the house. There is one bathroom for these three bedrooms. On the west wing of the house (the other side) you will find bedroom number five which has a separate bathroom and a rear door that opens out to the pool deck.

The formal entry leads into the living room and the very large family room with fireplace beyond. The family room opens out to the pool. The kitchen opens onto the family room on one side and to the informal kitchen dining area on the other. Of course, there is a separate formal dining room as well. There is large laundry room and an incredible walk-though pantry with lots of places to put things.

There is a double garage on the west side of the property and a separate driveway on the east side. The middle ground is nicely landscaped. The lot is huge: 14,175 sq ft or (105' front X 135' deep).

3814 Flagler Avenue is located on the Riviera Canal. All of the frontage is just the same at the rear so this house has 105 feet of sea wall. (Control Depth is 3 feet.) The Riviera Canal has immediate access to the Atlantic Ocean so you can do your own booze cruise nightly.

This house is clean. The air conditioner and lights work. It doesn't have the smell so many bank owned houses in Key West have. (The listing Realtor and bank owner have taken care of this asset. Thank you for setting an example.)

The best feature of this really big house is the really low price: $699,000 or $225 per sq ft. CLICK HERE to look at the mls data sheet and to view more photos (taken when recently occupied by house sitters. They are gone now and it is easy to show this home).Some of the paint colors are a bit bright, but for a few hundred dollars in paint a new owner could create a brand new look. The appliances are dated, but they work. The whole house works. The fifth bedroom on the opposite side of the house would be the perfect place for your own Alice.

If you would like to see 3814 Flagler Avenue please call me, Gary Thomas, 305-766-2642 or contact me by email at kw1101v@aol.com. I am a full time Realtor at Preferred Properties Coastal Realty, Inc. in Key West, Florida.

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Story Book Cottage - Just Listed - Key West

Just listed, but not by me, 1216 Varela Street in Key West. I have written about the houses on either side before. The house at 1214 Varela Street was our listing and it was one of three houses featured on an HGTV "House Hunters" program for homes located in Old Town Key West.It was priced at $2,595,00 in May 2009. That house is spectacular! And that is an understatement.

I wrote about the house next door to the south at 1218 Varela Street. That house is a private party foreclosure. It still has not sold. It is still offered at $1,500,000.

The cottage at 1216 Varela Street looks absolutely charming. Everything seems perfect. Including the asking price of just $550,000. The listing agent describes the property this way:

"Cute Conch Cottage in Historic Old Town. Two bedrooms two full bathrooms with french doors leading out to deck and Pool. Designer Kitchen cabinets which includes cabinet-depth stainless steel refrigerator. Wine cooler. Gas Top Range with convection oven. Wine Cooler. Centeral A/C. downstairs. Storm Shutters. New Washer/Dryer. Bathroom has Spa bath tub with heat and jets. A must see listings for those who want a Conch Cottage in Old Town with a Pool."

1218 Varela Street is located at the southernmost end of Old Town and in that area that abuts the Casa Marina Area. The Atlantic Ocean is about seven blocks to the south where you will find lots of beaches. The White Streets Arts District is just one block to the east. There you will find the Island Gym and numerous yoga studios. (I don't know why so many yoga in Key West. But we (but me) got a thing about yoga. Faustos Food Palace (grocery store with a real old fashioned meat counter where the butcher real does butcher meat) is located in that area. Bay View Park with its tennis courts, bacci ball, baseball, bandstand are all there. 1218 Varela Street is a five minute bike ride to Duval Street. The Montessori School is located across the street, and the Glen Archer School is located at the corner on the far sice of United Street.

CLICK HERE to read more about the features of this two bedroom (one bedroom is small), two bath 1409 sq ft cottage that has just about everything a primary or second home owner wants in a Key West house for sale. If you want to see this gem, please call me, Gary Thomas, 305-766-2642 or email me at kw1101v@aol.com. I am a full time Realtor at Preferred Properties Coastal Realty, Inc. in Key West, Florida.

810 Whitehead Street - Old Town - Key West

800 Block of Whitehead is shown above

810 Whitehead Street - Key West

There is a new listing that you price-conscious (bargain hunters) might want to consider. It is the really cute cottage home located at 810 Whitehead Street. I'll bet you have passed it on making the pilgrimage to the Ernest Hemingway House at 907 Whitehead Street. The Southernmost Point is two blocks beyond to the south. The Ft. Zachary Taylor State Park and beach, the best beach in Key West, is a five minute bike ride to the west. There are lots of small inexpensive eateries all within a couple of blocks. There are art galleries and lots of water holes on Dual Street. People save up there money and vacation time all year to come here for a couple of weeks. If you owned this cottage, you could do the same thing every day for the rest of your life.

The listing Realtor describes this property thus:
"Built in 1908, this Conch cottage has vaulted ceilings throughout, loft (finished half story of 240 feet as per the tax rolls), Dade County pine floors and driftwood accent wall, operable antique stained glass windows and a large lanai off the kitchen overlooking a large backyard. Perfect walking distance to everything downtown. Plenty of room for a pool and possible expansion of living space."

I showed the house two weeks ago and I thought it was just a wonderful small space for someone looking for a nice house in a nice location who does not need room for extraneous relatives and friends. There are plenty of hotels in Key West and many are located within a few blocks of this place.

The front yard has the requisite white picket fence and inviting front porch. (I mentioned the pilgrimage. You can watch it daily from the porch.) Notice the trellis over the gate. Quaint, all right. Inside you will find the living room with a ship ladder to a loft space where your guests can stay if they refuse to rent a room somewhere else. It's better than having them make you sleep on the sofa or worse share your bed. The real bedroom is near the rear just off the really sweet kitchen. The entire backyard has brick pavers. The area is lightly landscaped so there is not a lot of plants that need constant care. As the yard now exists there is a lot of open space where you could put in a pool or garden or perhaps both. This is an ideal spot for someone who has a big old hound that needs some room to roam. The covered space provides lots of shade and the open space plenty of sunshine.

It is the back yard that will captivate you, however. There is a covered outdoor lounge area just off kitchen. French doors open from the kitchen onto this space so there is lots of light in the kitchen. The outdoor lounge becomes an extension of this house, just like it does in the more expensive homes on the other side of Duval Street. The rear yard is covered in brick pavers save the areas where some palms and other trees are located. Notice the orchid wall on the back fence. While you are "noticing", notice the hammock. The area is totally private.

The listing agent says the 729 sq ft one bedroom cottage sits on a 2051 sq ft lot (21' x 98') one block west of Duval Street. It is offered at the asking price of $339,000. This is not a short sale and no banks are or will be involved. CLICK HERE to read the mls details and view photos of 810 Whitehead Street.

If you are interested in seeing this home or any other home in Key West, please call me, Gary Thomas, 305-766-2642, or e-mail me at kw1101v@aol.com. I am a full time Realtor at Preferred Properties Coastal Realty, Inc. in Key West, Florida.

1012 Varela Street - Bank Owned - Key West

Attention Bargain Hunters: This BANK OWNED property at 1012-1014 Varela Street may be the bargain you have been looking for. Here's why. This two cottage assemblage is located in the Viva Varela Condominiums just a stone's throw south of Truman Avenue in the Old Town area of Key West. The front cottage consists of a good sized living room with two story vaulted ceiling. The walls and ceiling are Dade County Pine. Thee is a small bedroom downstairs and the master bedroom is on the second floor. It is accessed by a spiral stairway from the living room. The master bedroom is open to the downstairs so both spaces have a very open feeling. The one bath is located on the first floor. The kitchen is quite large. It has two sets of French doors that open on to the rear bricked courtyard. (There is also a laundry closet in the kitchen.)

Pretty nice kitchen for the price, wouldn't you agree?

Double set of French doors looking onto private courtyard and second cottage to the rear.

The main house with deck of master bedroom as viewed from the rear cottage.

The second cottage sits near the rear of the lot. It has a good sized bedroom and large bath with a glass block wall that lets lots of light into the area. There is a deck to the rear of that cottage which has a separate gate that provides private entrance into the cottage without going through the main house. That would be an excellent place to put your guest so they won't disturb you after they return from a night on the town. That cottage does not have a kitchen. The living space is vaulted, and did I mention the front of that cottage has French doors that look out toward the bricked courtyard that separates the two cottages. That courtyard is large enough for a pool.

The rear cottage as seen from the deck off second floor master bedroom.

The interior of the rear cottage as it appeared before the foreclosure.
Note the private deck at very rear of the property.

Glass block wall is the shower in the rear cottage; private gate to right.

The listing agent shows the two properties having 1130 Sq Ft of living space on a 7598 Sq Ft lot and describes the property this way:

"This BANK-OWNED property consists of two adjacent condos originally deeded separately but now combined under one legal description. This property has been recently upgraded and only requires some TLC. The front unit is a one bedroom/one bath with a loft and the rear unit is also a one bedroom/one bath that can be used as a guest quarters or master suite. It also has a separate entrance. Both units are separated by a paved rear yard."

Prior to becoming a bank owned property, Preferred Properties listed 1012 Varela Street as a short sale. The listing agent described the same property a little differently:

"Two newly-renovated freestanding condos, originally separately deeded, now combined with one legal description. 3 bedroom 2 baths with private bricked tropical garden area between the main house (2/1) and a fully-detached 1/1 cottage in the Viva Varela Compound. Main house has dramatic vaulted ceilings in living area with a loft bedroom and access to a rooftop sun deck. Eat-in kitchen has granite counter tops with stainless steel appliances and attractive cabinets. Cute new bathroom and lovely tiled floors throughout the main house. The second unit has much charm and a separate entrance via a tree-lined garden path."

CLICK HERE to review the current mls data sheet and see more photos of 1012-1014 Varela Street.

No matter how it is described this two cottage property is now offered at $348,900 or $310 per Sq Ft. The roof over the kitchen needs a little repair. The owner previous to the present bank owner combined the two contiguous condos into one real estate parcel (to minimize taxes I suppose) without obtaining the approval of the condo association. That was a "No No" and the condo association will require the new owner to pay the cost of amending the condo docs to reflect the new reality. So a new buyer will need to spend some money(but not a lot) to make things right with the house and right with the neighbors, but this two cottage compound is a real compound investment.

If you want to see 1012 Varela Street please call me, Gary Thomas, 305-766-2642. I am a full time Realtor at Preferred Properties Coastal Realty, Inc. in sunny Key West, Florida where today it will be 74 degrees and sunny. The streets of Key West are filled with happy campers walking around with their shirts off (the guys) and enjoying to fresh air and sunshine of the Keys.

Davy Crockett Remembered

I learned late yesterday of the death of Fess Parker, but to me he will always be Davy Crockett, King of the Wild Frontier. I didn't feel a tear coming to my eye or a lump in my throat, but I recognized the loss of someone really important in my development as a boy and the boy that became a man.

I grew up in a small suburban town just to the west of Denver. My dad was even a town councilman in the Town of Mountain View, Colorado. Big deal. The town was six blocks long by three blocks wide. My elementary school was a two story pre-war red brick building. (My kindergarten teacher was Miss Godley. And Officer Goody, a Denver cop, came to my school to teach us about obeying the law.) There were some little mom and pop stores on Sheridan Blvd that was the dividing line between the City and County of Denver and the Town of Mountain View. I attended Berkley Methodist Church at the corner of 43 and Sheridan from the earliest of my childhood memories until we moved to Lakewood, Colorado where I would attend Junior and Senior High. My Cub Scout Den Mothers and my Boy Scoutmaster lived in the same little Town of Mountain View and my little universe was populated with other little boys just like me who grew up there in the 1950s. My little universe was replicated all across America and we became known as boomers.

Back in the mid 1950s there were three television networks plus an independent station that ran old scratchy movies with stars like Edward G.Robinson, James Cagney, George Raft and the like. The independent station ran old time horror movies as well. I remember my big brother scarring the hell out of me and his girlfriend late one night. We had just finished watching The Mummy (the real one with Boris Karloff wrapped in bandages. The mummy slowly drug his body with one arm out-stretched but also quickly enough to catch the morons too afraid to run from the creature.) Anyway, my brother went outside to warm up his car to take his date home. It was snowing that night. He came back inside with his coat and head covered in new fallen snow. He walked in the front door with his arm was out-stretched and he drug his body across to the sofa. We were paralyzed in fear and could not move, just like the morons in the movie. We both screamed for our lives. I was eight and she was maybe 16 or 17.

There was one girl at my school whose family did not own a TV. I could not believe the cruelty of her father, who, she said, did not believe in television. That was like not having indoor plumbing.

The rest of us watched TV and became the first generation to be raised by Madison Avenue. We learned to know what we wanted because someone on TV told us what we wanted. It worked very well.

I remember the very first time I saw Davy Crockett. I don't remember the night, but I remember that within the period of a couple of months just about every boy I went to school with had a coonskin hat and knew how to croon the Ballad of Davy Crockett.

I have a specific recollection of going to a particular cub scout den meeting wearing my coonskin hat. My best friend was Bruce Small and his mom was our den mother. I'll never forget him or her (she had the same name as my sister, Shirley) or his little brother Ronnie, who had the same first name as my brother. Aside from the names-the-same thing, just about every body at that one den meeting was wearing an official Davy Crockett coonskin hat.

If you were a kid in the fifties you knew right from wrong, the good guys from the bad guys, the Americans from the Commies. Things were simple then. The good guys always won and the bad guys got what was coming to them. Davy Crockett was the best of the good guys. They don't make 'em like Davy Crockett anymore. Too bad. And thank you Fess Parker for making all the little boys in America have a genuine hero.


I found these images on the Internet. They are not mine.

715 and 719 Whitmarsh Lane - Old Town - Key West

The Phillip Burton House is two doors to the right on Angela Street

The two units at 715 Whitmarsh Lane are pictured above

The Seashell Cottage at 719 Whitmarsh Lane is pictured above and below

There are two separate properties for sale that are located next door to each other on one of the quietest and most difficult lanes to find in Old Town Key West. They are located at 715 Whitmarsh Lane and 719 Whitmarsh Lane. Whitmarsh Lane is mentioned in "The Streets of Key West" thus:

"Whitmarsh Lane, a couple of blocks over and next to the (Phillip) Burton House at the summit of Solares Hill, is named for the Whitmarsh family, a member of which played a small role in the island's folklore,. On April 28, 1931 Mary F. Whitmarsh was witness to the transfer of property at 907 Whitehead Street to one Ernest Miller Hemingway."

If you love Key West you need to read The Streets of Key West. There is so much useful information on Key West history and how some of our wacky streets and lanes got their names.

I walked over to Whitmarsh Lane this morning to take some photos for today's blog. The painting crew is reworking the front porch for the new owner of the Phillip Burton House. (The new owners sent me a very nice Thank You note for mentioning their beautiful home in my blog last week.) The summit of Solares Hill is so high I almost got a nosebleed. I think it is 18 feet above sea level. But joking aside, I could definitely see and feel the height. I know where Whitmarsh Lane is located but most locals don't because the lane runs just one block long from Petronia Street on the south to Angela Street at the north. Whitmarsh Lane runs paralell to Elizabeth Street to the east and Simonton Street to the west. The lane is so narrow and inconspicuous you will miss it if you are not looking for it.

Whitmarsh Lane looking north towards Angela Street

Both of these properties have valuable Transient Rental Licenses and both equally valuable off-street parking. You cannot beat the location for nearness to Duval Street yet enough distance to make it really quiet. For more information on the two units at 715 Whitmarsh Lane CLICK HERE. And for more information on the seashell cottage at 719 Whitmarsh Lane CLICK HERE . The properties are owned by different owners so it is not necessary to buy both. But this could be the kind of investment that may interest a buyer looking to purchase a place for personal use along with a property to help defray the costs of ownership.

If you would like to see either or both of these properties please call me, Gary Thomas, 305-766-2642. I am a full time Realtor at Preferred Properties Coastal Realty, Inc. in Key West, Florida where today it is 66 degrees and sunny. The town is full of people just loving life. (I do wish some loved life a bit more and actually look before they step in front of moving traffic.)

1412 White Street - Casa Marina Area - Key West

Welcome to 1412 White Street Key West

Guest cottage

I fell in love with Key West the first time I visited here in March 1984. It took me a long time to make the move and actually buy a place in Key West. I made offers on several properties, but I always managed to put in some "condition" or requirement that was sure jinx the deal. I eventually was forced to stop screwing around when I bought my first house at 511 Eaton Street. You see, it had been foreclosed and boarded up for two years. I bought it at a public auction. There was no opportunity for me to set the rules. The rules were set for me. All I had to do was make the highest and best offer. The auction was attended by maybe 50 people. I bid the highest and I got the deal of the year.

We are nearing the end of season. Right after Easter the potential buyers will stop coming here en-masse and start to go to their summer places. If you currently follow our mls you probably have noticed many sellers have started to reduce the asking prices because they know when it is over, it is over. The summer does bring some buyers, but it usually brings in more lookers and tire kickers than serious buyers. So if a seller really wants to sell, he or she better get the deal done soon.

The seller of the beautiful two house compound at 1412 White Street just reduced the asking price to $799,000. This property is a listing of Preferred Properties-that is where I work. Although this is not my listing, my broker allowed me to host an open house there on March 7th. I had 68 people come by to take a look. There were no ads; just my blog and Open House signs. Everybody loved it. I really thought I was going to get an offer from one of two different buyers that both came back for second look.s One of the potential buyers went on to look at houses priced much higher in the Old Town area. He came back and said that 1412 White was a much better house, with much larger and more beautiful grounds than a house he looked at in Old Town priced over a million dollars higher. I told him if this house were in Old Town on a great street it would have a "1" in front of the asking price. He got it.

The main house is made for the easy "Key West" style of living. The living, dining, and kitchen are all open. There are French doors on the east side, a bay window looking to the orchid garden at the south, and an eight panel door leading to the covered and lighted rear porch where the laundry room is located. The master bedroom is just off the living area. It is really comfy and has its own French doors that open onto the deck. There is a really charming outdoor shower that is just off the master bedroom. Look at the photo below. See if you can determine how to turn on and off the water. Finally, there is a second floor loft which can be used as a guest bedroom, office, or studio.

Can you figure out how to make the shower work?

Open living -dining -kitchen area with loft above

The guest cottage is extra large and has a wonderful vaulted ceiling that adds an extra large feeling to the room. Two sets of French doors open onto the deck and pool area. This cottage has its own bull bath.

The property is fully fenced and beautifully landscaped. All of the grounds are lit at night (and not with cheesy plug-ins from Home Depot). All of the grounds (including numerous potted plants) are automatically irrigated. There is a gated covered parking spot with brick pavers to boot. The photo below is of a statue that greets you when you first enter the property. The statute does not convey. Notice the tree in the background. It is not dead. It is one of two large Royal Poinciana trees. They are getting ready to emerge from their dormant state. By late May the will be in full bloom with wonderful little red flowers.

Royal Poinciana Tree in background

Somebody is going to get one heck of a deal when they buy this house. It was built new in 1990. It has been carefully attended to over the years. There is no deferred maintenance that I have seen. CLICK HERE for more detailed info on this property and to view more photos.

This property is located only a few blocks from the Atlantic Ocean and our public beaches. The White Street shopping area is a few blocks to the north. And Duval Street is a five to ten minute bike ride depending on where you want to go. I live one block away and I love the neighborhood.

If this sounds like the kind of property that you are looking to buy, please call me, Gary Thomas, 305.766.2642. I am a full time Realtor at Preferred Properties Coastal Realty, Inc. in Key West, Florida.

The Bank Grinch Who Stole Christmas - Part Two

Last December I wrote a blog about one of those Big Banks that was Too Big To Fail and Too Big To Play Fair. CLICK HERE to read what I wrote then.

The good news: my buyers (the young Key West couple and their little boy "O") finally were able to buy their Key West dream home. They were among 18 couples who were selected by lottery to participate in a special funding program through the Monroe County and Key West Housing Authority wherein qualified first time local buyers were granted funds up to $258,000 in non-interest bearing financing to purchase a new residence priced less than $400,00. There were lots of restrictions and limitation which sometimes seemed onerous. The intent was meritorious in that the Housing Authority did not want the grantee to get into a bad deal just because there was some almost "free money" attached. The Housing Authority imposed a time deadline which compliance critical.

I gave up counting the number of offers we wrote on various properties, but there were a lot. Last December we got a bi-lateral contract which I referred to in the "The Bank Grinch Who Stole Christmas" blog only to have an asset manager retract the bank's written acceptance because he found a sweeter deal. The bank I did not name then I will name now: HSBC.

After that huge disappointment my buyers got an approval on another property that was owned by a local bank. My buyers got it inspected, but the Housing Authority declined to accept that property. We found another property owned by another bank. The bank accepted my buyer's offer. This place would have been perfect for my them, the Housing Authority disapproved that property as well.

Finally, we found a house in Old Town that was not bank owned and who had a sweet seller, a sweet selling agent, a willing local bank to write a small first mortgage, and a lot of local Key West people who helped get this deal completed. Thank you Jean, Judy, Ron at First State Bank, , Marci, Marie, Rick, another Rick, and yet another Rick for helping.

I used to work for the biggest bank in Denver where I did commercial loan workouts. My supervisor was a former IRS tax lawyer. I respected that man a lot. One time we were talking about the lawsuits the bank would get into and the fights that bank would fight and the ones it would defer. He said something like "The bank spends a lot of money developing an image. We don't want to mess up that image by behaving badly or over-reaching in legal claims." We still managed to get sued but we chose who we went after very carefully. There were a couple of lender liability suits we would have preferred to have won, but didn't. But we really did try to act legally and properly and to protect the bank's good name.

I think a good trial lawyer could rip HSBC apart on what it did and in the way it breached its contract with my buyers. It's funny how some banks operate. They think they can make up the rules of the game and change them any time they want. Contract law is contract law no matter what some half-wit asset manager thinks it is or says it is. There is a big payday waiting for someone on this particular matter. There is major intentional wrong doing both individually and institutionally.

Enough. Little "O" no longer lives on a boat. He has his own house with lots of doors and rooms, and very high ceilings. He has a front yard and a back yard. He's got palm trees and a nice house in a very nice neighborhood. He has a pet hamster that he calls a "mouse". Someday soon he will have a cat. He's got a mouth full of white teeth and a great smile. He is happy little boy. At last.

"O" checking out his new digs during our final inspection just before closing.