real estate: Don't Fret - Still some Low Priced Deals in Key West - 04/19/10 07:40 AM
Don't Fret! I get calls and emails from buyers that want to purchase only bank owned properties or properties priced under $300,000. Having worked in a major bank and having sold lots of bank owned assets during a previous economic downturn, I know that all bank owned assets are not deals. I do understand budget buying and setting realistic shopping constraints. With that in mind I did a quick search for residential properties on the Island of Key West priced under $350,000. (I believe in the power of negotiation and have a reasonable expectation that a buyer may be able … (0 comments)
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real estate: La Casa Roja - 1403 Catherine Street - Historic Key West - 10/11/09 06:36 AM
Just listed by Preferred Properties Coastal Realty (but not by me) La Casa Roja at 1403 Catherine Street in Key West, Florida. La Casa Roja is the kind of home that you would expect to see featured in Architectural Digest or Coastal Living magazine. It is of that caliber. But you lucky readers get to see it here in my little blog instead, keywestproperties. CLICK HERE to see the before photo of this historic 992 square front home as it appeared five years ago with its white clapboard siding and chain link fence. If fit right into the neighborhood. But a … (1 comments)
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real estate: 415 Julia Street - Old Town - Key West - Short Sale - 09/09/09 09:15 AM
415 Julia Street is located a hop, skip, and a jump off of Duval Street near Truman Avenue. The reason the location is important is that the location is important. You see this property qualifies for a transient rental license. That means the owner could legally rent this property on a daily basis. Having a good property in a good location could mean good income. (415 Julia Street does not have a transient license at this time.) This property sits just west of the Duval Gardens Bed & Breakfast and a bit south of the recently updated Orchid Inn. There is … (0 comments)
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real estate: 811 Carey Lane - Old Town - Key West - 09/08/09 07:28 AM
JUST LISTED, but not by me, 811 Carey Lane, which is located on one of the best little slow lanes of Key West. This is how the listing Realtor describes this charmer: "Located in an area of million dollar properties, this charming home has an exceptional location on one of Key West's most desirable lanes. You'll find peaceful tranquility and the Key West ambiance you're looking for in this home. Open living and renovated kitchen, dining room, good storage, outdoor shower, covered porch for lounging and lovely gardens complete with inground hot tub. Excellent condition with 3 ductless air units, and … (4 comments)
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real estate: 1209 Olivia Street- SOLD - Short Sale that Happened - 06/25/09 12:35 PM
I probably showed 1209 Olivia Street to just about as many people as the listing Realtor. I think the property was a real bargain at the asking price of $610,000. It sold and closed this week at an even better price of $590,000. That is $387 per sq ft for very nice 2 bed, 2 bath house, "recently updated", with a pool and guest cottage, off street parking, located in a very good neighborhood, in Old Town Key West. CLICK HERE to see the details. Getting a short sale actually accomplished can be very time consuming and bothersome to everybody involved. … (0 comments)
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real estate: 1216 White Street - Bank Owned - Key West - 06/19/09 10:56 AM
Good news for those of you who looked at 1216 White Street but lost out on the bidding war. This Bank Owned property is back on the market. I've shown this house several times. I think this property could make a great project for someone who doesn't mind spending some time and money turning this place into a little gem. Here's why: I am assuming the prior owner did the upgrades or improvements that exist on the house. Work was started. But then it stopped. The improvements are not complete. The kitchen needs to be replaced and the floors need to … (1 comments)
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real estate: 911 Watson Street - Old Town - Key West Treasure - 06/18/09 08:11 AM
If you are looking for a project house in Old Town Key West and have a lot of cash, read on. It would be most helpful if you have a good imagination or the money to hire a really talented local architect to help you develop a vision of what this incredible property could become. Since I am sharing this with you, please keep in mind I am also trying to sell property. So if you read this piece and get tempted to see it, please see it with me. If you are already working with another Realtor, please tell him … (0 comments)
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real estate: 1119 Catherine Street - Short Sale - Key West - 06/17/09 08:49 AM
Attention K-Mart shoppers and other bargain hunters. The legal duplex at 1119 Catherine Street in Key West may be the one you have been waiting to find. The property is a short sale and the asking price is now $490,000. Interested? Read on. The listing Realtor describes the Catherine Street duplex this way: "Great renovation in progress - very close to finished. First floor unit is 2 bedrooms, 2.5 baths; the upstairs unit is 2 bedrooms, 1 bath. Both units have covered rear porches. This is a great location - walk or bike anywhere. Condo papers are finished but not filed. … (0 comments)
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real estate: 416 Margaret Street - Old Town - Key West - 06/11/09 08:06 AM
Just Listed: 416 Margaret Street - a beautifully restored Victorian home with a legal studio apartment, pool, off street parking that is located in the Heart of Old Town Key West. This is how the listing Realtor describes this property: "Historic Key West charm abounds this Folk Victorian home with a wonderful renovation just completed. Relax on the large front porch with beautiful balustrades and Gingerbread trim overlooking tropical landscaping. A quintessential Old Town neighborhood, 2 blocks to the Historic Seaport and 4 blocks to Duval St. Original Dade County pine lovingly restored throughout. First floor boasts 2 bedrooms, 2 full … (0 comments)
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real estate: 1105 Washington Street - Casa Marina Area - Key West - 06/10/09 08:45 AM
Just Listed (but not by me!) 1105 Washington Street in the Casa Marina Area of Key West. This 1960 vintage ranch has been recently updated. I know, I live nearby and watched the workers doing all kinds of things to the property during the past couple of years. The house has 1415 sq ft of living space and sits on a 4035 sq ft lot. The house has 3 bedrooms and 2 1/2 baths. 1105 Washington Street is offered at only $750,000 or $530 per sq. ft. The listing Realtor points out that "this is not a short sale". The listing … (0 comments)
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real estate: 1020 Von Phister Street - Casa Marina Area - Key West - 06/08/09 09:42 AM
Want to live far from the Madding Crowd? Want to have a place where you will feel confident nobody, but nobody will ever build a place that can look down onto your pool or make noise that will wake you up at the crack of 3:00 AM? Consider becoming my neighbor by buying the really sweet home at 1020 Von Phister Street in the Casa Marina Area of Key West. 1020 Von Phister Street is described this way by the listing Realtor: "This extraordinary home was custom designed and built with master craftsmanship in 2002 by an award-winning architect. Situated on … (0 comments)
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real estate: New Bank Owned Houses - Key West - 06/05/09 11:39 AM
For those who think they can get a good deal by buying a Bank Foreclosure, may I present two new offerings for your consideration. 607 Margaret Street is located in the Old Town area of Key West. It is two doors to the south of Mangia Mangia for locational reference and across the street from the old Harris School. There is a big tree in front to provide shade from the sun. The interior has Dade County Pine walls. And it is a fixer for sure. The listing Realtor describes this house thus: "Bank Owned. Fantastic location in Old Town Key … (1 comments)
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real estate: Good Deals - Recent Key West Sales - 06/04/09 02:50 PM
No Good Deed should go unnoticed. There were three sales that hit the mls since June first that I believe are worth noting. I wrote about 811 Southard Street on December 21st. It was a short sale. It originally listed for $5,300,000 and sold for $2,500,000 or $656 per sq ft CLICK HERE. That is a great price for a great property in a very good Old Town location. Congratulations to Rudy and Roger. I never got the chance to write about 1020 Southard Street CLICK HERE (the Gingerbread Man House) because it went under contract within a day or so … (0 comments)
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real estate: "My seller does not want to lose any money." - 06/03/09 01:05 PM
I wrote an offer over the weekend on a nice house on the edge of Bahama Village. I point out the location because the location is part of the reason the house has not sold. The house itself is very nice. It has the features many potential second home buyers want: enough bedrooms and baths, new kitchen, off street parking, and charm for days. But the location causes most buyers to not even look or if they do look, to choose another location. I wrote in my blog about a similar property a few months back. I hosted many "Open Houses" … (0 comments)
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real estate: Two-Fers on Peacon Lane - Old Town - Key West - 05/30/09 09:00 AM
There are two great houses on one of the best little lanes in Old Town Key West, Peacon Lane. Peacon Lane is only one block long and is situated between Elizabeth Street to the west and William to the east. It is a one way lane entered from Eaton Street and exits onto Caroline Street. The exit point delivers you right at the doorstep of the Historic Key West Seaport. Peacon Lane is a mix of a few large houses like the ones mentioned here today and several smaller cottages. Most of the houses have been gentrified but there are a … (0 comments)
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real estate: Her Dog Ate Her Homework & She Didn't Get the Memo! - 05/21/09 09:43 AM
One of the agents in my office has been working like a dog to sell a so-so property in a so-so location in Key West. The property is a short sale. The buyer and seller agreed to the price and my fellow agent has been shepherding the short sale through the Bank of America short sale service center. A couple of days ago he received this e-missile from BofA: "Hello, I got the notes from customer service that you will not reduce the commission to 4%. I'm sorry but per our revised matrix this loan falls under the 4% commission. I … (0 comments)
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real estate: The Key West Bank Dick - Part Two - 05/20/09 10:25 AM
I've complained before that the Key West Association of Realtors mls database does not automatically show bank owned properties. Some Realtors believe that lender-owners do not want to disclose to the public that a bank owns a piece of property. I guess that is possible, but having worked in the Special Assets division of two banks, I know that we advertised we were selling bank foreclosures. There is a segment of the market that wants to buy bank foreclosures: they think they are going to get a deal. They have watched those late night infomercials on how to buy real estate … (0 comments)
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real estate: Half-Price in Key West - 05/19/09 12:53 PM
I've noticed several "For Sale By Owner" signs in the area near the gym I go to. One caught my eye the other day and I decided to share two photos with you. See above. My purpose is not to try to find a buyer for this property or to dissuade anyone from looking at it. I will tell you this much: the asking price on this 1254 sq ft house that sits on a large 7830 sq ft lot (90' x 87') is now $750,000 or one half the original price of $1,500,000. I just did a quick search of … (0 comments)
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real estate: The One that Got Away! - 05/18/09 10:26 AM
While searching for pics to help convey the sense of loss we feel when we realize we missed a great opportunity, I cam across a sad blog posting from a would-be buyer in The Hudson Valley. She said in part "THIS is the one that got away. This is the heartbreaker, the one I can’t stop thinking about, measuring all others against. “Another house will come along,” said the same person who told me there wasn’t anything on the North Fork of Long Island for under 300K. Well, there was, and it was a beaut, but I didn’t get there fast … (0 comments)
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real estate: Casa Marina - Short Sale - Do It Your Own Way - 05/14/09 12:35 PM
We are getting to a difficult point in real estate pricing in Key West. Many of the bargain properties are gone (not all). Many of the properties that remain are either located in bad locations (you decide what that means) or the properties seem over-price (we all know what that means). I am fortunate enough to have some active buyers that want nice houses priced just under one million. They want a good neighborhood, good neighbors, and a very nice house. You would think for a million bucks that would be easy. It isn't. Not in Key West. That's not to … (0 comments)
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