key west: 826 Olivia Old Town Key West -- Short Sale - 04/16/08 07:34 AM
I wrote about 826 Olivia Street a while back. I am totally surprised that this little gem has not sold because it is so sweet. Let me tell you the negatives before I expound on the positives. It has no off street parking, there is no pool or room for one, and it is located across the street from the Key West Cemetery. Oh, the house next door to the east isn't as cute as it could be. (But the house directly behind this home is gorgeous and it is on the market for $2,595,000.) This charming home, with extraordinary ambiance … (0 comments)

key west: Mid-Life Crisis -- Short Sales in Key West - 04/10/08 02:50 AM
I don't think I am overstating anything when I say we are having a crisis of "short sales" with so many homes listed for sale in Key West. Many, many of the homes and condos are short sales. And some of the really cherry deals are offered not in Old Town, but in the Mid Town and New Town areas. Most of the homes built in Mid Town and New Town were constructed in the 1960s and 1970s. They are typically ranch homes constructed of stucco over CBS (concrete block structures). The neighborhoods are family neighborhoods like you would find in … (0 comments)

key west: News We Do Not Need - 04/08/08 08:10 AM
We live on a small island in the middle of the ocean, and when something happens here news travels fast. There was a terrible tragedy today at the Key West International Airport. I've been griping for a long time about the insanity of building a new airport when the old one, the one we all love, works just fine. And now this. GO HERE to read the developing story on the ramp collapse that killed one construction worker at the airport earlier today. … (0 comments)

key west: Dirty Pool -- Bank Foreclosure - 04/07/08 05:54 AM
Before you accuse me of Dirty Pool, read the rest of today's blog. The little house at 1310 Olivia Street in the Meadows Area of Key West is another example of a Bank Foreclosure that takes a bad deal and only makes it worse. Here's why: the pics to the right are of the property two years ago when it was still owner occupied. This is how the former owners' realtor described the property before the foreclosure: "Excellent Meadows location! Very private 2BD, 2BA home in a very tropical setting, fully fenced on a quiet street with off-street parking. Open, airy … (1 comments)

key west: No Pretense Required - 04/05/08 09:54 PM
I had a walk-in a couple of weeks ago who was interested in buying a large winter home for his family. He's a self-made man from the mid-west and has accumulated other houses and according to him quite a bit of money. But if you looked at the guy, you'd never guess it. He told me that he's just a "No pretense" guy. I told him "You picked the right place". When I first started thinking seriously about living in Key West I thought it would be great to live in a gay town. I gotta confess I thought the idea … (0 comments)

key west: 915 Angela Street Old Town Key West - 04/04/08 06:33 AM
Half of you won't even read this when I tell you about 915 Angela Street. You see it is located directly across the street from the Key West Cemetery. I'm not being funny when I report that there's no room left. All the plots have been sold and there is a waiting list of would-be buyers who have their hearts set on spending eternity in Key West. The charming cottage at 915 Angela has a bright and unobstructed view of the cemetery. The picket fence and two driveways define the outer space. But once you step inside all of the downstairs … (0 comments)

key west: First Quarter Real Estate Sales in Key West - 04/01/08 11:01 PM
Let's take a quick look at how well the Key West real estate market fared during the period of March 1st rough March 31, 2008 as compared to the same periods in 2005, 2006, and 2007. The year 2005 was a record year for Key West. There were 45 single family home sales in March totaling $55,369,000 and 36 condo sales totaling $24,880,513. Then the market began its slide. And Hurricane Wilma occurred in October and that created an even greater sense of uncertainty about Key West and Key West real estate as an for primary home ownership and as an … (0 comments)

key west: Bank Foreclosure 1103 Virginia Street Key West - 03/31/08 02:07 AM
Bank Foreclosure at 1103 Virginia Street. Four bedroom, two bath house with no kitchen--looks like somebody took it away. Central A/C, beautiful pool and deck area, covered off street parking, some nice decorator touches and some work left undone. The tax records show this house as 1626 sq ft and sits on a very large 3515 sq ft lot. The house has new exterior siding, new windows, new drywall, new electric, and new plumbing. The asking price is $499,900 or $307 per sq ft. That sounds too good to be true for Key West. CLICK HERE to read what the listing … (0 comments)

key west: Time Waits for No One - 03/28/08 04:46 AM
I have been getting phone calls and e-mails from people who have been reading my little blog. A lot of people have decided that now is the time to start looking at buying something in Key West. Like a lot of Realtors I have been showing properties to potential buyers. And I have tried to impress on prospective purchasers that now is the time to make your best offer. For the most part the prospective purchasers pack their bags and head back home thinking time is on their side and that they can come back to Key West a few months … (0 comments)

key west: 508 William Street Old Town Key West - 03/26/08 06:16 AM
This one-of-a-kind Old Town house at 508 William Street is waiting for someone to make it a home. The property was completely renovated over a three year time period by JJ Fairbank Construction. This beautiful home features Brazilian cherry floors, high ceilings, crown molding and custom built French doors throughout. The gourmet kitchen is equipped with soapstone counter tops and professional stainless steel Viking appliances. The bathrooms are spectacular with large walk-in showers and Waterworks fixtures. There is off street parking, a covered loggia, and a heated pool. CLICK HERE for more photos and information on 508 William Street. This smart … (0 comments)

key west: Bank Foreclosure - 1021 Johnson St. Key West - 03/25/08 12:12 AM
Everybody likes it when the bank makes an error, right? That is unless you have to pay for the error. One of the sad things about all of the foreclosures is that big banks hire asset managers to mange their foreclosed real estate. The managers then hire Realtors to list and sell the properties. But banks are notorious for not wanting to spend any money on fixing or maintaining their depreciating assets, so they neglect them. And this is the case of 1021 Johnson Street in the Casa Marina Area of Key West. I live two blocks away and know the … (4 comments)

key west: Just Listed 1113 Watson Street Key West -- Legal Duplex - 03/24/08 06:20 AM
Just Listed: 1113 Watson Street, Old Town, Key West, Florida $705,000or $380 per sq ft. That is a real deal! This is a Legal Duplex that is offered at Appraised Value (3/18/08 by Bone Island Appraisal Company). "An appraiser's report is much more detailed [than a Realtor prepared Competitive Market Analysis]--and is the only valuation report a bank will consider when deciding whether or not to lend the money." The report was made by an objective third party, someone who has no financial or other connection to any person involved in the transaction. I have often stated that properties in Key … (0 comments)

key west: 709 Bakers Lane Open House Easter Sunday -- Old Town Key West - 03/22/08 11:54 PM
OPEN HOUSE EASTER SUNDAY 11:30 - 2:00 709 Bakers Lane The perfect island getaway beautifully located atop Solares Hill on a quiet lane off Elizabeth St. is this completely renovated walled estate. The main house has Brazilian cherry floors, wood wainscoting and 16' cathedral ceilings. The new gourmet kitchen has SubZero refrigerator, Viking wine chiller, Jenn Aire range and microwave ovens, 2 Bosch dishwashers, granite counter tops and handsome cherry/cream glazed cabinets. The family/media room has 2 walls of glass overlooking the 26' black pool w/waterfall and 'cave' spa! There are 5 porches, rooftop sundeck and bricked courtyard with fountain. Joined … (0 comments)

key west: Some Good News for Good Friday - 03/21/08 06:12 AM
It's a beautiful day in Key West. Town is full of people and some of them are opening their pocketbooks and buying homes. The news is so good that I had to post a mid-March report so that you people sitting on the sidelines may get off your duffs before the properties you want are gone. Since March 1st there have been 29 residential closings in Key West. The majority are on the low end to be sure. That is where most people perceive that the bargains are located. Most of the properties are selling in the $200's to mid $300's … (1 comments)

key west: Aversion to Conversion - 03/19/08 11:45 PM
A few years back when real estate was king in Key West a lot of property owners converted existing large properties into smaller living spaces which they then sold at inflated prices. They called those smaller spaces condominiums. Some of the conversions worked. Others did not. The huge landmark property at the corner of Eaton and Elizabeth Street is an example of the latter. There was, to coin a phrase, an aversion to conversion as far is this property was concerned. In May 2007 this property was listed at $3,649,000. Today the asking price is $1,999,000 or $465 per sq ft … (2 comments)

key west: 1800 Atlantic Condominiums - 03/19/08 02:24 AM
There has been a lot of sales activity at the 1800 Atlantic Condominiums over the past couple of months. Several units have either sold or are in the contingent or pending stage and are awaiting final closing. And a few new units have also been added to the roster of units available including an a very attractive transient unit with great ocean views. Located one unit from the ocean front it has many custom features including an entire living room wall with built-in cabinets, book cases and custom window treatments on all 3 sets of sliding glass doors. There are terra … (0 comments)

key west: Steal this property from the bank! - 03/18/08 02:29 AM
***FORECLOSURE***Steal this property from the bank. Minutes from the beach. Great for vacation home or investment. Bank pays title insurance to choose title company. What are you waiting for?????? That is how the listing Realtor describes the 900 square foot s bedroom 2 bath condo at 1419 Atlantic Boulevard. It is priced at $379,000 or $422 per sq ft. CLICK HERE for more pics and a scant little more info. The listing Realtor is short on info and if I were the asset manager, I'd can her for the way she is promoting this property. It is one thing for someone … (2 comments)

key west: Knock, Knock! - 03/15/08 08:00 AM
Expect the unexpected if you are looking to buy a place in Key West. And I'm not referring to prices or structural problems. Here are some examples of what you may encounter when you look at property. All examples are true. Newton Street Station was an all male guest house located in the Meadows Area of Key West. I mentioned to an agent in my office that I was going to show it. She told me to warn my customers to expect to see the manager open the door and assist in showing the property in the nude. She was serious. … (0 comments)

key west: Bank Foreclosure -- 3364 Pearl Avenue Key West - 03/12/08 06:59 AM
There are two town homes in the 3300 block of Pearl Avenue for sale. They are located next door to each other. The one at 3364 Pearl is a bank foreclosure and is listed at $299,000 or $231 per sq ft. It is a 2 bed, 2 bath unit on two floors. It has off street parking and it's own private pool. Yeah! The townhouse is 1294 sq ft and sits on a 2144 sq ft lot. CLICK HERE for more info on this property. Next door at 3366 Pearl is a 2 bed, 2 bath unit on two floors with … (0 comments)

key west: Value Buying in Key West - 03/12/08 03:21 AM
I have written many times about Old Town being the place to buy if you are looking for top value both short term and long term. And I've said that certain blocks within Old Town are more valuable than others. Proximity to certain locations or the "look" of certain blocks seems to create or enhance value among nearby homes. But most properties in Old Town are priced higher than many would-be buyers can pay or are willing to pay for a second or third home. So what's a prospective buyer to do? I suggest that you Buy Value by purchasing the … (0 comments)

 
Gary Thomas, Realtor to the Dreamers (Preferred Properties Key West)

Gary Thomas

Realtor to the Dreamers

Key West, FL

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Preferred Properties Key West

Address: 520 Southard Street, Key West, Fl, 33040

Mobile: 305-766-2642

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