1421 Eliza Street - Short Sale - Key West

1424 Eliza Street - Key West

Just listed by Preferred Properties Coastal Realty (that's where I work but this is not my listing), 1421 Eliza Street, Key West. The home has been featured on HGTV and now is offered for sale as a short sale at the asking price of $360,500. The listing Realtor describes this utterly charming house this way:

"Bank approved short sale. Decorated & owned by exp. designers, this 2br/1 bath home nestled in a quiet neighborhood can be yours for a steal! Tropical foliage surrounds this beautiful Conch house creating your own private paradise. The inside boasts many windows which create natural light throughout. The kitchen is complete with stainless steel appliances. Outside there's a cozy pool for cooling off during those warm Key West summers & because it's heated & has jets, it allows you to relax & unwind during those cold winter nights. There are french doors coming off from the kitchen to the large deck area that makes this a great home for entertaining. The spacious front porch allows room to stretch out & relax to pass the time away."

This house is located in the Arts & Deco District just south of Bayview Park. The former home of Tennessee Williams is located two blocks away on Duncan Street. This area has a mix of old family owned homes and properties like 1421 Eliza Street, that have been gentrified. Bayview Park is one block to the north. The Atlantic Ocean is an easy five minute bike ride to the south.

The pool at 1421 Eliza Street is so cool

1421 Eliza Street is a two bedroom one bath house with 1159 sq ft of living space on a compact 2309 sq ft lot. The house has an inviting facade, tony interior, and a kewl pool. The price is just $360,500. This is a short sale. CLICK HERE to checkout more details in the Key West mls database for this property.

If you want to see 1421 Eliza Street 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. Don't procrastinate on this house because it will go under contract quickly.

"I Hope Your are Not French!"

Outside my kitchen window last year - hoping I'm not French

Many of my readers and customers who send me emails know that I have a terrible sleeping problem which stems from a fall I took a couple of years back while showing a bank owned property in Key West. I ended up in the Lower Keys Hospital with a concussion. I'm okay, now, but I did take a big spill. Damned cheap banks that don't take care of their bank owned homes! Anyway, if you have ever suffered a concussion you know that one of many symptoms can be a sleeping disorder. That is my long term and seemingly ever-lasting legacy of the tumble. For a while a would go to sleep around 6:00 to 7:00 PM and then wake up at midnight or shortly thereafter. Now my sleep is finally getting back to normal but I continue to have regressions to early evening beddy-bye. But I guess I am doomed to be an early riser forever. Last year I awoke way too early. I had already had coffee and decided to make breakfast at a time some Key Westers were probably getting ready to go to bed. I went back into the kitchen and saw the frog shown above. He was clinging to the outsideof the kitchen window watching me. I found my camera and took his pic so that I would not forget him. A few days ago I was again awake way too early for any sane person. I had left the kitchen door open and a frog had found its way inside the kitchen. He saw me and jumped onto my stove. He was a bit too eager to be eaten in my opinion. Were I French, he would be history. Instead, I decided to ignore him. I poured another cup of coffee, turned out the lights and left him. The next time I returned, the frog was gone and all I had were memories of the tiny creature. Frogs are strange creatures. I guess they are always here, but unless you have a murky pond or needy pool, you just don't see them and certainly don't hear them. But they reappear annually in late Spring. If you are an early riser like me you can hear them croaking come May. I don't recall how long they stay because they just stop their noise and disappear into the flora and fauna only to reappear the following year.

An iguana inspecting my pool

I don't want to scare any potential buyers by reporting on the little animals that live here. My experience have been harmless. A few years ago I was having some work done at my house. Two of the workers were from Nicaragua. They saw a 3 foot iguana walking around in the backyard where we were working. They tried to catch it. They couldn't. The lead carpenter was from England. He picked up a large 6" x 6" post and hit the beast on the head, killing him instantly. The time was 11:45 AM. He took the Iguana home at noon. He returned at 12:30 and announced he had thrown the Iguana into a pot and was making Iguana Soup. I wasn't home at the time and would not have allowed that to happen. Later that day after everyone had left I saw a baby Iguana about 12 inches long walking by my pool. He wasn't even afraid. I thought buddy, you better move or you could get thrown into the pot with your dad. The next day the carpenter retold the story of his slaying the Iguana and reported on what a tasty tail the beast had. "Best Iguana I ever ate", he said. I live in the Casa Marina area of Key West. My house is four or five blocks from the beach. It's an easy walk or bike ride for me. One Saturday afternoon several years ago I found a large blue crab swimming in my pool. I found an old five gallon bucket and scooped the crab out of the pool and thought the poor thing was lost. So I rode my bike with the bucket-o-crab back to the ocean where I returned him to the sea. Later someone told me the crab was probably horny and was walking around looking for a mate. He said that crabs leave the ocean and move inland when they want to do it. Little did I know I was messing with the crab's sex life. One Saturday afternoon I was taking a nap. We had left two packages of baby back ribs on the kitchen counter to defrost. I got up and decided to get them into the oven for a long slow bake. But when I went into the kitchen there was just one package. I looked everywhere. I remember havin g seen two packages on the counter. I looked in the freezer and the refrigerator. I looked in the oven. I looked high and low throughout the kitchen. I even went outside trying to figure out where the second package could have gone. I could not find it. Our baby back rib night was less filling than planned. Maybe a week later I found the opened cryopack in the back yard. Something had made its way into the kitchen and stole the package and took it outside where it opened the package (tain't easy-either). The meat was 'all gone'. Nothing left inside the package. The store label identified the package as my stolen dinner. I don't have a dog or a cat. The carpenter that ate the iguana and the Nicaraguans were no longer working at my house. We do have some homeless people that walk the streets from time to time, but they don't come inside my property and surely none of them eat raw pork. I did see a raccoon in my yard once. Maybe he was the culprit. No way to know for sure. I have a small apartment at the side of my house. A few years ago a really sweet young couple (Sean and Jen) lived there for narly five years. There was a fish pond near their entrance and that had some creepy fish that lived inside. I decided to clean up the pond, buy a new pump, and make the pond look even better by adding some large koi. I went to the pet store and bought three good sized koi and some small feeder fish. I introduced them to the newly cleaned pond and felt proud of myself. Note to self: don't feel proud of yourself because vanity will do you in. The next day I was driving home from work and saw this big egret walking around at the corner. I never see egrets walking around my house. I got worried and ran over to Jen's apartment. She came out and said "Gary, they ate the fish!" My three koi were gone. I had not created a place for them to hide. Little did I now that egrets had such good sense of sight or smell or whatever it was to find fish in one day. If you are looking for a place in Key West and are up for a little backyard adventure or two, CLICK HERE to search the Key West mls database. See if you find a place that interests you. If you do, please consider contacting me, Gary Thomas, 305-766-2642 or kw1101v@aol.com, for more information. I am a buyer's agent and a full time Realtor at Preferred Properties Coastal Realty, Inc. in Key West. I am not French, and I don't eat frog legs or other living creatures that I have found in my yard.

507 Frances Street - Old Town - Key West

507 Frances Street is located on one of the best blocks in Old Town

You probably have strolled by, rode your bike past, or driven by 507 Frances Street and wondered what it is and then easily continued walking, riding, or driving. It gets noticed because of its atypical architecture, but then it gets ignored because of it. People can't figure out what it is or why it should interest them as a potential home in Key West. I'm here to shed some light on this property and perhaps create a little interest in it.

507 Frances Street (above) in 1965 with suggested changes by me

507 Frances Street intersects with Curry Lane in 2011

I found the Black & White Photo (above) that shows how this property looked back in 1965. Compare that photo with the color photo immediately below. The place has not changed much. You will note that I added some text to the Black and White Photo to suggest possible changes to this house because I think change is exactly what is needed.

The Red Doors on Caroline Street

701 Southard Street Key West - January 2011

302 Angela Street

507 Frances Street is one of six double gable houses in Key West that I am aware of. The others are located in the Meadows area, Petronia Street, and two familiar properties (the Red Doors on Caroline Street and an apartment building at 701 Southard Street), and the Angelina Guest House at 302 Angela Street. If you study 507 Frances and compare it to either the Red Doors or 701 Southard you will immediately see that Frances Street architecture is basically the same. That is, there are two buildings seemingly joined at a common point with the resultant double gable roof. 507 Frances is different, however, since the porches on Frances Street were enclosed sometime in the past - at least pre-1965. (When I first moved to Key West I was told many of the larger old homes had the front porches enclosed during World War II to house military personnel stationed here. That may or may not be true.) But these four properties share another interesting feature: they are all site-situated right at or very near the sidewalk. There is no front yard or fence to set the building off from the sidewalk.

Imagine the front porch enclosures eliminated and the interior ceilings vaulted

Imagine the rear with a pool and French doors up and down with second floor cantilevered deck

This building was built around 1870. The public records show the current building as having 2107 sq ft of living space that is situated on a 38' x 50' lot. The house abuts Curry Lane, one of the slow lanes of Key West.

The listing Realtor describes 507 Frances Street this way:

"This sturdy double gabled building is situated in a very nice area of Old Town Key West. Historically, it is said to have served as one of the early schoolhouses in Town, then later as a church. Presently in use as a 3-unit licensed year round rental producing total annual rent of $48,000, with the tenants paying utilities. The building could convert nicely to a fine single-family residence."

I showed this property in early 2010 but neglected to take any interior photos. The property is presently used as three rental units. The front porches are integral parts of the current usage. I recall the original exterior walls at front are still in place and doorways open onto the porches. An interior stairway provides access to the three units as currently configured. It works fine for the current usage but a new stairway could redefine the usage as a single family residence. The second floor units is very charming but it could be a wonderful master bedroom with en-suite bath and rear deck overlooking a new pool below. The ceilings could be vaulted and the whole interior spaces transformed into a very decent sized Old Town residence with a striking architectural style. Conversion of the enclosed porches to open porches would reduce the living area by about 300 sq ft but it would add a tremendous amount of charm to the facade.

CLICK HERE to checkout the Key West mls database and to view listing photos of the interior. This is not a short sale but I would advise the current owner purchased this property in 2006 at a much higher price than the current asking price of $599,000 or $273 per sq ft. A new owner could keep the property as is and collect rent or do some interesting renovations. I vote for the latter.

If you would like to see 507 Frances Street please contact me, Gary Thomas, 305-766-2642. I am a full time Realtor at Preferred Properties Coastal Realty, Inc. in Key West. Our office is the listing office for this property.

Bank Owned - Old Town - Key West

719 Chapman Lane - Key West - 2011

The Bank Owned single family house at 719 Chapman Lane in the Bahama Village area of Old Town Key West was is now offered at $486,000 or $231 per sq ft.

The house at 719 Chapman Lane was built new (not renovated) in 1999. The same house was listed for sale in 2005 at $1,200,000 and later $1,099,000 in 2006. It did not sell. It has 2108 sq ft of living space on three floors. It sits on a 27' x 98' (2646 sq ft) lot. See the diagram and photo below that show the house layout and how it it looked in 2006.

2006

June 2011

June 2011 - minor ceiling damage related to a faulty water bed

There are double sets of French doors at the end of the living room which open onto a large rear porch that overlooks a large and barren back yard that is just ready for the addition of a swimming pool.


There are four bedrooms and four and 0ne-half baths in this house. The master bedroom is located on the second floor at the rear. French doors open from the master bedroom out onto the second floor rear balcony.

A second bedroom is located at the front of the house on the second floor. It has its own en suite bath. There are two more bedrooms on the third floor each o f which has a bath.

The City of Key West is nearing final approval on the redevelopment of the Truman Annex marina and park. It is located just a couple of blocks further west of Chapman Lane. Angela Street (on the corner to the north) is supposed to provide a walking lane type entrance into that area. When the redevelopment is completed, I believe that property values in the immediate area will increase dramatically.

Breakfast at La Creperie

Dinner in Heaven

Spend the day at Ft Zach

In the meantime if you owned the house at 719 Chapman Lane you could walk a little over one block to have breakfast at La Creperie or dinner at Blue Heaven or maybe do tapas at Santiago's La Bodega. You could ride your bike over to Ft Zach Taylor beach and work on that Key West tan. Or you could do any manner of things people in Key West do every day. This block is populated mostly by full time homeowners but there are a few second homes located here as well. After the Truman Annex marina and city park is completed I expect there will be a shift between full time and second home ownership in the immediate area.

If you are looking for a newer home in Key West and want the convenience of being located near major Key West attractions but don't want to pay the high cost of ownership by being located on the supposed best street, you should really take a serious look at 719 Chapman Lane. A similar house on a more sought after block in Old Town will cost about $500,000 more. Please call me, Gary Thomas, 305-766-2642 to schedule your visit. I am a buyer's agent and a full time Realtor at Preferred Properties Coastal Realty, Inc.

Great Expectations - Great Frustrations - Short Sale - Old Town - Key West

1211 Margaret Street - Key West

Just listed, but not by me, 1211 Margaret Street in Old Town Key West.

The Monroe County Property Appraiser's website says the house at 1211 Margaret Street was built in 1938. That was in the Depression and just before the outbreak of World War II. I question the construction date, but who am I to question the government. See the photo below which shows what the house looked like in 1965.

1211 Margaret Street Key West as it appeared in 1965

The property was dramatically enlarged and thoroughly renovated after 2005 both on the inside and outside with the addition of a pool and pool house. In mid 2006 the newly renovated property was put on the market at the asking price of $2,699,000 or $1173 per sq ft. It did not sell. It was put back on the market in January 2007 at $2,295,000 and later reduced to $1,995,000. It did not sell. Now it is offered as a short sale at the asking price of $749,000 or $357 per sq ft. There must have been great expectations. There surely were great frustrations. Now this is a buying opportunity.

The listing Realtor describes this house this way:

"Beautifully renovated home in Old Town Key West. Enter into the large dining room and kitchen area. With high ceilings and open feel, this home is great for entertaining. Two bedrooms with extra storage and one and one half baths downstairs. Large master suite upstairs includes dual vanities, large glass shower and clawfoot tub, a walk in closet and private balcony. Bright living room downstairs leads out to the large deck, lush pool area and guest cottage also with a full bath. Located in the X500 zone and off street parking for two, this Old Town home is a must see!! This is a potential short sale transaction subject to lender approval."

1211 Margaret Street is a 2100 sq ft house that sits on a 4547 sq ft lot (46' x 107'). You may recognize the location because of its famous nearby neighbor: El Siboney Restaurant. The house has 4 bedrooms, 3 1/2 baths, large pool and that pool house. The location is within easy walking distance to the restaurants and attractions on upper Duval Street. The Atlantic Ocean is just as easy a bike ride-maybe five minutes. There are several nearby gyms and yoga studios, neighborhood eateries, and specialty stores on Truman and White streets.

If you are looking for a large home in Old Town Key West and would like to see 1211 Margaret Street, please contact 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.

419 Simonton Street - Old Town - Key West

419 Simonton Street - Key West - 2011

Preferred Properties (that's where I work but this is not my listing) just listed 419 Simonton Street in Old Town Key West. The listing broker describes this four unit investment property like this:

"Located in the heart of Old Town Key West, this beautiful historic building has four spacious apartments plus off street parking. The property sits on a very large lot with an amazing rear yard which has ample room for a pool and potential expansion. The downstairs rear apartment has a separate gated entry and features a large bedroom plus a den. It has glass doors that open to covered porch and a deck that overlooks the back yard. The front apartment is a 1/1 with an ideal front porch. There are two apartments upstairs, one with its own private deck. This property is great as is but could be enhanced for higher income. This is a great investor property or perfect for an owner/occupied with rental income."

Off Street Parking for two cars

When I toured this new listing I channeled Armistead Maupin's Tales of the City. I could envision some crazy Key West characters that would live in this old Key West house. It has been updated but much of the original funk is still in place. And that is why I found this place so utterly charming. The downstairs rear unit is perfect for an 'owner-user' who could be the Key West version of Mrs. Madrigal. The space is large and has a new kitchen and bath. The covered rear porch oversees the large rear yard and the adjacent deck with hot tub. There is an apartment in the front and two more units on the second floor. The front unit has a second floor front balcony to keep track of what is happening on Simonton Street. The rear unit has its own rear deck where the tenant can soak up the Key West sun. I swear whoever lives in this apartment will never leave. It is so cute. All in all this is a cute place that could transfer from present owner to new owner without a lot of new work being necessary. But the building and that huge rear yard could easily be a great renovation project. The asking price is $759,000.

The lot is an irregular rectangle of approximately 44' (wide) x 83' (length). There is room for a pool. This is a big property for Old Town both in size of building and lot size. The location does lend itself to several different uses. The Property Appraiser says the building is 2469 sq ft.

View from rear property line looking toward the building

Private deck off the second floor rear apartment

CLICK HERE to view more photos I took of the property. And CLICK HERE to view the Key West mls listing datasheet and to see the listing photos.

If you would like to see 419 Simonton Street, or any other property in Key West, please contact me, Gary Thomas, 305-766-2642. I am a buyer's agent and a full time Realtor at Preferred Properties Coastal Realty, Inc.

Buy Curious?

Do images of empowered women with big fish caught in Key West in the 1930's turn you on?

Do you get excited thinking about wrestling a 70 lb grouper into your boat?

Admit it to yourself: you are buy curious. You search the Key West mls and view websites like Trulia and Zillow looking for buying opportunities in Key West. You are reading my blog right now in hopes of finding your place in Paradise.

The biggest mistake I ever made in Key West real estate was not what I bought or what I did not buy. It was in taking too long to walk away from my life up north. I had thousands of excuses - mostly in the money I had tied up in real estate where I lived. I let that "investment" control my life for too many years. After I got loose from my albatross and had the cash, I took advantage of a buying opportunity that forced me to act quickly and decisively. I don't regret moving here for a minute.

I know a lot of readers spend a lot of company time checking out the mls on a daily if not hourly basis. When I am not showing properties I am normally online and make regular checks to see what just got listed or what property had a price reduction. I get phone calls and emails from some of you asking or commenting about changes in the mls. Some are so quick that I know the inquiring mind is spending company time looking at the mls. I guess that is better than getting tweets from your favorite congressman.
If you are Buy Curious CLICK HERE to search the Key West Association of Realtors mls database. If you see something that you like and are looking for a Realtor, please contact me, Gary Thomas, 305-766-2642 or send me an 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.