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Thursday, September 23, 2010

Calling Lt. Columbo




I have always been a mystery fan. I loved to watch Perry Mason outwit Hamilton Burger, the District Attorney who was an ineffective prosecutor, and Lt. Tragg, the defective police detective.

Jessica Fletcher had the same knack for outsmarting the tricksters that portrayed themselves as altar boys only to be unmasked as murders in the final minutes of each episode.

My favorite was Lt. Columbo. If you saw Lt. Columbo walk into a room you might dismiss him because he always wore that shabby trench coat. He had a distrust of the wealthy. Lie as they might and have all kinds of excuses corroborated by their wealthy friends, the rich were no match for the Lieutenant who always had to ask "Just one more thing..." It was at that moment we at home knew that Columbo had figured out how the the rich sonofabitch with a concocted alibi had committed the near perfect crime. We relished in the fact that the bad guy would not get away with his evil deed.

A couple of months ago I noticed scaffolding had been erected around a genuine Key West landmark house - the Indian block house located at 936 United Street (corner of Grinnell and United Streets). The property is subject to the HARC (Historic Architectural Review Guidelines) adopted by the City of Key West. CLICK HERE to read the guidelines. You can even download and print a copy for your records.

936 United Street as it appeared in 1965

The guidelines are designed to give notice to owners of real property (and to the public) as to what they can and cannot do to their property because of location in the Key West historic district or because a property has been designated as significant. I advise buyers to consult local real estate lawyers, architects, and city officials to determine what it permissible and that which is not.

I have an out of state buyer who has been looking for a fixer-upper. We found one house that has a massive two tier porch somewhat like the one at 936 United Street. I started taking periodic photos of the renovation that I thought was going to occur. The first photos I took showed the original columns, railings, and spindles that had fallen into grave disrepair. Sometimes wood is salvageable. But so many elements of the porch were in such bad repair, I assumed the entire porch would have to be replaced. I thought it would be great to chronicle the old features as they were replicated. It would have. That's not what happened. You can view all of the photos if you CLICK HERE. (The most recent photos appear at the front and proceed backward.)

936 United Street Street at the start of the renovation in June 2010

Close-up of a delicate second level spindle

The delicate lines of the original columns

A couple of weeks ago I went by the house to take some pics to update the progress. I noticed that new columns had been installed. Except they were not the same as the originals which were turned or rounded. The new columns were 6" x 6" squared. That did not make sense to me. I know HARC is a stickler for compliance to the guidelines. It is my understanding that HARC provides a written description of what is to be done with each property. Substitutions and changes need to be approved by HARC. I sent an email with photos attached to a HARC commissioner who forwarded the photos to the HARC official at city hall. I was told that HARC had approved a plan where the original columns would be replaced by new turned columns. I was relieved. (See below.)

At the end of last week I went by the house to take more new photos and noticed that the three surviving original turned columns had been removed and were replaced by new squared columns. I contacted the HARC official at city hall who responded:
'The HARC members approved a final version of a turned wood column that will replicate the original ones, but the smallest profiles of the round column will be slightly larger than the original ones due to actual building code. The building department requested the contractor to secure the two story balconies due to hurricane and school season. The columns that are installed are not final columns.

HARC approved turned wood columns and we are waiting for final shop drawings from the supplier who will be fabricating the columns. We want to make sure that the final columns are as close as possible as the original ones.'
Yesterday I drove past the house on my way to an appointment. I noticed that new railings were being attached to the squared columns and that final trim was placed at the bottom of the squared columns. I'm no Columbo but I suspected something was not right about what I saw. I went back to the house an hour later to take pics and saw even more railing had been installed during the short interim. I took new pics and sent them to the City of Key West late Wednesday.

The photo below is what 936 United Street used to look like in June 2010 when it had turned columns and delicate little spindles that decorated the graceful curved porch. The curves of the Indian block, the porch, the columns, the spindles all worked together to create a beautiful Key West landmark house.

936 United Street June 27, 2010

The photo immediately below is how the house looked yesterday. Quite a remarkable difference.

936 United Street September 22, 2010

CLICK HERE to see that actual HARC application and "approval" for the work at 936 United Street. You can download and print it for easier viewing. Take the time to take a look. If you are in Key West you might want to drive by 936 United Street to see for yourself.

Just one more thing, if you have any thoughts or comments about what is going on at 936 United Street in Key West post them below.

Tuesday, September 21, 2010

1021 Fleming Street - Bank Owned - Key West




1021 Fleming Street Key West as it appeared in 1965. Built in 1892.

1021 Fleming Street Key West - August 2010

Just listed, but not by me, 1021 Fleming Street, a true Key West Classic Conch Home that is ripe for renovation. Look at the photo above that was taken in 1965. Checkout the clean lines of this remarkable home that was built in 1892. Now look at the same house shown in the photo immediately above as it appears in 2010. Same house, same street, same garage and same big back yard. Virtually untouched.


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.

1021 Fleming street is not a big house. The home has 1344 sq ft of living space. It sits on a very good sized lot ( 4656 sq ft or 49' x 96') on one of the best blocks in Key West. The historic Eden House is a couple of doors to the west. Two of the prettiest homes in town are located adjacent to the east. Here is the best part: this home is Bank Owned and it is priced to sell $321,750. CLICK HERE to view the mls listing datasheet.

The house has original Dade County Pine walls and ceilings. The place looks pretty much like it looked like decades ago. The original windows and glass are in good condition. The glass ripples as it reflects the life on the streets of Key West(CLICK HERE).The house has four bedrooms and two baths. The kitchen looks like it was last remodeled in the 1950s. But that's okay. A lot of good things came out of that decade. Not everything has to be au currant. A new owner probably will redo this place. Interior spaces, fixtures and fittings will likely be changed. But the character of this old house is strong enough to withstand the challenges of this new century. Who knows, maybe a new owner will resist the temptation to fix this place and only do small changes.

Look at the top two photos again. See that garage at the left side of each. Same old building, but perhaps the building might work better if it were converted into a guest cottage or a pool house. The yard (CLICK HERE) is very large for Old Town. That yard has got to be the second best feature of the property. (The architecture is still number one in my book.) There is plenty of room to put in a good sized pool. The existing back porch is a relic and I would hope a new owner could get permission from HARC (Historic Architectural Review Commission) to nix the current porch and replace it with something that works for today's lifestyle. A good architect can assist a prospective buyer in understanding exactly what it permissible and what is possible. Perhaps new brick pavers could replace the existing concrete pathway to the garage. I can envision this place freshly painted with a nice new white picket fence.

CLICK HERE to view several photos I took of this property. If you are looking for a project property in a great Old Town location, the house at 1021 Fleming Street should definitely be on your list of homes to see. Please contact me, Gary Thomas, 305-766-2642, to schedule a showing of this great old Key West home. I am a full time Realtor at Preferred Properties Coastal Realty, Inc. Our office is the Lower Florida Keys exclusive affiliate of Christie's Great Estates. There could be a HOME SWEET HOME in your future.

Sunday, September 19, 2010

The Real Housebuys of Key West



Summer is over. Fall is on the way. This is always the worst time of the year to sell a house in Key West. It is the same way every year. 2010 isn't special in that regard. Many shop owners and restaurants close for vacation. There's no reason to have a crew working if nobody is buying or eating or sleeping in hotel rooms. Five weeks from now, however, Fantasy Fest will be here and so will the tourists. Money will flow like crazy once again. The boat races follow and then Christmas ushers in season when the cycle starts all over again.

A few years back buyers wanted into the Key West market so bad that they would buy just about anything to get a piece of the action. So much of what was bought then at high prices is now offered as either a short sale or maybe it is already bank owned. I have heard of sellers who own too many homes in different locations that have decided they need to sell off unnecessary properties which in some instances means their place in Key West. Our inventory of homes is down from the past few years. That is a good thing. But the selection of homes is down as well. Fewer homes means fewer to choose from.

Most of the Realtors I know have buyers looking for "deals". I thought it might be helpful to list a few properties that I consider real housebuys in this market at this point in time. Here are some potential real housebuys.

2507 Linda Avenue in mid town is a short sale offered at $370,000 or $152 per sq ft. This is a four bedroom 3 bath home that looks pretty attractive. Photos of the kitchen are below. CLICK HERE.

Older photos of the Linda house

711 Georgia Street is a bank owned home located in the Meadows. It recently had a price reduction to $389,000. (This place used to be owned by a real estate agent who had it priced at $1,199,000. It had appliances then and kitchen cabinet handles. They are gone but they house is priced a lot better.) This is definitely worth looking at. CLICK HERE


721 Chapman Lane is a big house (1900 sq ft) priced at $469,000 which is located in Bahama Village. This place has big rooms and a good sized pool. It is bank owned and it has been actively market for 118 days. The house is in pretty good condition but it needs painted and cleaned. CLICK HERE.


3715 Pearlman Court in New Town is now a short sale which is offered at $495,000 or$295 per sq ft. This place is beautiful. The pool is magical. CLICK HERE.

The pool at 3715 Pearlman Court is magical

507 Frances Street is an odd duck. (I mean that nicely!) It is presently configured as three legal apartments but it could be converted into a single family home. It is one of the tiny few double gabled houses in Key West. This is not a short sale nor bank owned but it is offered for much less than the owner paid for the property. This Old Town property is offered at $599,000. Read the comments, this place generated $48,000 in income last year. CLICK HERE.

507 Frances Street is one of only a few double gable homes

3334 Riviera Drive
is a very large waterfront home located directly on the Riviera Canal. This place is bank owned. The asking price was recently reduced to $689,900 or $244 per sq ft. The "bank" that owns this property is actually a local Key West credit union that itself is now in conservatorship. It has to sell this property. I think somebody can make off like a bank robber on this one. CLICK HERE.

The Riviera pool before it became bank owned

1012 Southard Street is located on one of the very best blocks in all of Key West. This home has a separate full guest cottage, a large pool, and off street parking. The asking price is $895,000 or $463,000. CLICK HERE.

1012 Southard Street: location, location, location!

If you are looking for a place in Key West now is the best time to look. Sales are slow, hopes are down, buyers who want or who need to sell may be receptive to an offer that they never thought they would entertain. If you would like to see any of the properties shown above (or anything in Key West), please contact me, Gary Thomas, 305-766-2642 or by email at kw1101v@aol.com. I am a full time Realtor at Preferred Properties Coastal Realty, Inc. in Key West.

Friday, September 17, 2010

1107 Olivia Street - Transient Licensed - Old Town Key West



The asking price on 1107 Olivia Street in Old Town Key West was just reduced again. Now this recently renovated eyebrow house with a pool and a City of Key West Transient License is attractively priced to sell at $725,000 or $644 per sq ft. CLICK HERE to see the mls listing data sheet and listing photos.

This property was originally offered for sale at $1,250,000 when it was first listed in May 2009. The asking price has been periodically reduced to the current price point. I think someone may finally make a serious attempt to purchase this property now.

1107 Olivia Street is located one half block east of the Key West Cemetery. CLICK MAP to see location. Duval Street is a five to seven minute stroll. The shops, restaurants, galleries, gyms and assorted local businesses in the Truman and White arts district are just five minuets away. The Historic Key West Seaport can also within an easy walking distance. A full time homeowner or a tourist in town for a few days often measure the convenience of a property by how long it takes to get to a particular destination. Nearness to gyms, restaurants, and bars makes a house with a transient license that much more desirable and marketable.

This house has two bedrooms and two bathrooms. The master bedroom and primary bath are located on the first floor. The second bedroom and bath are on the second floor. The second floor has an unconventional floor plan that is more "loft like". It does not offer traditional privacy that some might require. I'm not being judgmental. But this may be part of the reason this house has not sold. A buyer who requires traditional enclosed space could fix this house without spending too much money in my opinion. But some money will need to be spent. The furnishings are not included in the offering but could be purchased separately. It might be more fun to decorate the place yourself and get exactly what you want anyway.

The pool is small but it is a real pool. There is a great second floor sundeck that provides great views of the immediate area. I think this feature is really neat. I wish I had taken photos of it when I showed the property.

The property does not have off street parking. However, there is an abundance of off street parking nearby. I don't see that parking would be an issue for a full time owner.

If you would like to see 1107 Olivia Street, please call me, Gary Thomas, 305-766-2642. I am a full time Realtor at Preferred Properties Coastal Realty, Inc. Our office is the Exclusive Lower Florida Keys Affiliate of Christie's Great Estates. Let me help you find your place in Paradise.

Thursday, September 16, 2010

1200 Varela Street - Just Became a Better Compound Investment




Talk about "compound investment", checkout the legal duplex at Varela Street Compound (located at 1200 Varela Street) in the SoTru area of Key West. SoTru is South of Truman.

The listing agent describes this property thus:
"Charming Key West Compound consisting of 7 homes and a shared pool. Completely fenced and very private. Lower unit has large covered deck and upper unit has large covered balcony.Both units are 902 Sq Ft under air w/dishwashers and stack W/D. Upper unit has vaulted ceilings & stained glass transoms. Entrance to compound and duplex off Catherine St. through secured gate."
Entrance to the Compound shown above

Notice the palladium windows in the lower level unit

The photos above show this two story unit that sits at the corners of Catherine at Varela Streets. CLICK MAP The duplex is equally divided into two floors of 902 sq ft each. Each unit has two bedrooms and two baths. The asking price on this short sale property was just reduced to only $374,900 or $208 per sq ft. CLICK HERE to see the mls listing info and to view photos of this unit. Checkout that pool!

This duplex might be the perfect property for a buyer that wants to have his cake and eat it too. A new owner could rent one unit long term and use the income to help make mortgage payments. The new owner could alternatively live in the other unit full time, use it for extended owner visits, or rent both units.

These units are spacious. The second floor unit has great vaulted ceilings. Both units have palladium windows which create dramatic interior spaces. Both have large rear balconies that open onto the private courtyard. I think there is plenty of room for a private pool inside the private courtyard. The interiors are a little dated but they do not require anything that I could see when I showed the property.

This compound has historically had a low turnover of units. Most of the other units are owner occupied. The neighborhood has a mix of expensive to moderate priced homes and condos. There are many rentals in the area as well. This is a very stable "community".

Corner of Catherine and Varela Streets in the SoTru area of Key West

The shops and galleries on White Street are just one block to the east. The Atlantic Ocean and beaches are about six blocks to the south and Duval Street is and equal distance to the west.

If you are looking for a place to stash your cash, please call me, Gary Thomas, 305-766-2642. Let's take a look at 1200 Varela Street to see if it will meet your investment needs. I am a full time Realtor at Preferred Properties Coastal Realty, Inc. in Key West.

Wednesday, September 15, 2010

1304 Atlantic Drive - Bank Owned - Key West







I wrote about 1304 Atlantic Drive right after it was listed for sale as a BANK OWNED property six months ago. The asking price then was $695,000. The asking price was just reduced on this large recently constructed (2008) single family home to $550,000 or $282 per sq ft. This house at this price deserves a return to the blog. 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."
I need to point out that the stainless steel appliances were removed. So a new purchaser will have to spend additional money to replace the missing appliances.

The current listing Realtor describes the property this way:
"Spacious three bedroom three and a half bath home with all the fine finishes. Granite countertops, wood floors and French doors leading out to the pool and deck. Great home for entertaining! This home is located in a very quiet neighborhood that is a short walk to the beach and the Atlantic Ocean."
Two other homes are also available in this development. Each is the same size, construction and amenities, except these houses have appliances. One is offered at $995,000 and the other at $1,099,000. CLICK HERE to checkout the mls listing information and view listing photos on all three units.

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 instead.

The beach is just a couple of blocks to the South

Your private pool is just outside your back door

Your private pool is on the other side of the French doors

The bank that owns this property is a local bank in Key West. I think an offer should get prompt and fair consideration. If you want to see this home, or any other property in Key West, please contact me, Gary Thomas, 305-766-2642. I am a full time Realtor at Preferred Properties Coastal Realty, Inc.

Tuesday, September 14, 2010

1025 Thompson Lane - Old Town - Key West

1025 Thompson Lane as it appeared in a 1965 photograph

If you have little kids and live on a through street more than four or five blocks long, I'll bet you live in mortal fear that someday some sixteen year old boy will be dragging down your block and possibly run over your child. Who reading this blog hasn't seen some teenager (0r young adult) drive way too fast down a long suburban street? Few, if any, I'll bet. That is one of the charms of the slow lanes of Key West: they are so short, narrow, and hard to find that teenage boys (and Conch Trains and Trolley Cars) avoid them like the plague. There are some folks who need to live on a big street in a big house so that everybody can see how grand they are. But others are quite content living life on a hard to find and very quiet lane. The house at 1025 Thompson Lane in Old Town Key West is an example of the latter.


Thompson Lane - one of the slow lanes of Key West

The first day I arrived in Key West some 25 years ago was amazed by all of the neat old houses in Old Town. I only ventured to Casa Marina for a party that first trip. And other than driving past New Town, I don't think I really ventured out there until a trip in 1987.

Back in 1984 many of the houses that look so damned wonderful today looked like a lot of the still "undone" or "non-restored" houses that still exist all over Old Town. There just are not as many of them today. And I have seen enough of the houses that were "renovated" or "remodeled" back in the 1970's and 1980's to safely say they may need a bit of updating now. Back in 1984 it was the simplicity of design and the sturdy construction that endeared the houses of Old Town to me. That has not changed.

The house at 1025 Thompson Lane is a good example of an old house built circa 1891 that has been updated over the years. The rooms are colorful and cozy. I find the place absolutely charming. There is a fake fire in the livingroom that reminds you why you chose to move to Key West. (Fireplaces are unnecessary. We live in a frost free zone.) The dining area is located at the rear. The kitchen is to the right rear and an unusual stairway at left leads to the second floor bedrooms. The master bedroom and bath are to the right of the livingroom. The house is very livable. None of the rooms are really large, but they work. The upstairs is presently divided into a sitting room, a bedroom, and a bath.

There is presently a small second floor deck and spiral staircase (CLICK HERE) that are not historic to the house. I think it should be removed. That would allow the homeowner to utilize the ground area better. I think there is room for pool and still comply with the Key West building code set back requirements. Any serious buyer will need to verify the ability to add a pool and should not relay what I say.

1025 Thompson Lane has 1341 sq ft of living area and sits on a 1600 sq ft lot. The house has two bedrooms, two baths, a lovely living room and an open kitchen. This house has been on the market several months and the asking price was recently reduced to $475,000 or $354 per sq ft. CLICK HERE for more mls information and to view mls photos of the interior and exterior.

Thompson Lane is similar to many of the other slow lanes in Key West: quiet. It runs one block long from Frances Street on the east to Grinnell Street on the west. Finnegan's Wake is located on Grinnell Street and just a few feet past the exit from Thompson Lane. The City of Key West parking structure is located across the street from Finnegan's Wake. And the Historic Key West Seaport is a minute walk further to the north. You can walk to the Schooner Wharf in less than five minutes. The house and its location are very quiet but the property is located within easy walking distance to so many things that make Old Town Key West so vibrant and fun.

1025 Thompson Lane is a listing of Preferred Properties Coastal Realty Inc. Please call me, Gary Thomas, 305-766-2642 to set up a showing. No need to worry about getting run over by a teenager on this little slow lane.

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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