blog: 824 Shavers Lane - Key West - 06/13/10 08:29 AM
A little over two years ago the little house on the big lot (50' x110' or 5500 sq ft) at 824 Shavers Lane was offered for sale at $735,000. It did not sell. The price was recently reduced to $297,500 which is still $488 per sq ft, but now the price may make the property worth a look-see.The listing agent describes this property this way:
"An opportunity! Total renovation/demo. Rarely can you build your dream home on a small quiet lane steps off Duval.What a location..steps away from the Hemingway House and the Lighthouse Only five short blocks to the Southernmost … (0 comments)

blog: 715 Emma Street - Old Town - Key West - 06/04/10 03:25 AM
Just listed, but not by me, 715 Emma Street #2, in the Bahama Village area of Old Town Key West. The listing Realtor describes this 1243 sq ft condominium this way:
"Beautiful recently built two story home located in a small community of four homes with a shared pool. This luxurious home has two bedrooms, two and one half baths plus a den and is finished beautifully - gourmet kitchen with Sub-Zero and Viking appliances, Brazilian Cherry hardwood floors, multiple balconies, walk-in-closets, GE Smart home wiring and off-street parking. Located adjacent to Truman Annex and near the proposed new waterfront park … (0 comments)

blog: GLEE Club - Key West - 06/03/10 07:05 AM
Do you watch GLEE? If you do you know it is okay to be whoever you want to be. You can be the boss of you. You can sing and dance and wear strange clothes. You can be a boy and like other boys. You can be fat and pretty and gifted all at the same time.There is a lot of GLEE in Key West. It was here before the TV show first aired. It will be here after the show goes off the air. If you have dreamed of owning a small nightspot in Key West where you can let … (0 comments)

blog: 1800 Atlantic Condominium Penthouse Short Sale - 05/24/10 05:00 AM

The interior courtyard and gardens are a wonderful surprise! Five years ago I was the listing agent that sold 1800 Atlantic Unit C-435. It sold for $950,000. I was saddened to see that it is now offered for sale as a Short Sale at the current asking price of $525,000. This is how the present listing agent describes this unit:
"Everything that you could want in Key West! Located on Smather's Beach, this purchase opportunity offers a fantastic view of the Atlantic Ocean from the top floor of one of the premier condo communities in Key West. What makes this … (0 comments)

blog: 1014 Elgin Lane - Key West Old Town Charmer ! - 05/22/10 02:11 AM

Great Room at the rear with double French Doors leading to pool  
The second floor bedroom at 1014 Elgin Lane Just listed, but not by me, is the really charming two bedroom cottage at 1014 Elgin Lane MAP in the Old Town section of Key West. Elgin Lane is a one-way lane that runs westerly from White Street and ends at Grinnell Street.The listing Realtor describes this beauty this way:
"Darling 1 & 1/2 story Key West cottage with small dip pool on quiet Old Town lane near Key West Historic Seaport area. Nicely maintained with charming details including … (0 comments)

blog: Pelican Landing Penthouse - Key West Waterfront - Short Sale - 04/22/10 04:32 AM
The listing Realtor for the Pelican Landing Penthouse unit said it all when he wrote
"Current owner's loss is your gain! Here is your chance to buy a 4 bedroom waterfront income property on the edge of Old Town. This is a very large penthouse unit in a newly renovated building. Access to boat slips included! This is a potential short sale transaction that may be subject to third party approval." The current owner purchased this property at the height of the real estate boom and paid $1,250,000 for the property. The market turned down and at about the same time … (0 comments)

blog: Don't Fret - Still some Low Priced Deals in Key West - 04/19/10 12:40 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)

blog: 613 William Street - Old Town - Key West - 04/13/10 03:02 AM
613 William Street Old Town Key West as it appeared in 1965  
613 William Street Old Town Key West in April 2010 Just listed, but not by me, 613 William Street in Old Town Key West. The listing Realtor describes this classic cottage this way:
"Wonderful Old Town Cottage in excellent condition with 10+ ft ceilings, hardwood floors and Dade County pine walls throughout. The floor plan of this home is two bedrooms, one bath and open living/dining /kitchen downstairs with French doors opening to the rear yard. The third bedroom and bath are on the second level. Located … (0 comments)

blog: Key West Open House Event - 04/10/10 11:36 PM
Preferred Properties Coastal Realty, Inc. in Key West is s joining forces with theNational Association of REALTORS® by participating in the National Open House Weekend on April 10-11. The event is designed to offer buyers the convenience of touring dozens of homes for sale in one weekend.Sunday, today, is the last day of the Key West Open House Weekend. The April 30 deadline for the federal homebuyer tax credit is quickly approaching. Homes need to be under contract by that date and the sales closed by June 30 for buyers to take advantage of up to $8,000 in tax credits.

blog: 404 Grinnell Street - Old Town Serene Sensation - Key West - 04/09/10 10:35 PM

404 Grinnell Street - Old Town - Key West The listing Realtor, not me, describes 404 Grinnell Street this way:
"Sensational designer renovation in the heart of the Historic District. Dade Co pine is used throughout this master craftsmans' four bedroom, three bath home from the kitchen cabinets to the custom cabinetry in the living room. The marble and granite bathrooms have beautiful hardware and details that make this home irresistible. The house opens through tall French doors to the covered porches and Chicago brick patio that surrounds the 35' swimming pool with water wall of coral and shells. Lush … (3 comments)

blog: Are You Afraid of Cuba? - 04/06/10 12:37 AM

700 Block of Duval Street in 1930s when Havana Tours were possible  
900 Block of Duval Street in early 1960s when you could still get "there" from "here" Every once in awhile I have a potential buyer ask me what I think will happen in Key West when, not if, Cuba opens up to the United States again. I always say something like "I don't think it will be a big deal." Cuba is just 90 miles away from Key West. It is closer than Miami.Key West used to be a launching spot to send tourists to that island … (0 comments)

blog: Casa Palmera - Sold - Key West - 03/30/10 06:13 AM
I wrote several blogs about 906 Johnson Street and this will probably be the last. The property closed today and I want to congratulate Cory Held of Preferred Properties Coastal Realty, Inc. who represented the Seller and the Buyer on the sale of this incredible property.CLICK HERE to see what you missed. 906 Johnson Street is located on one of the very best blocks in Key West. The main house sits behind a private gated entry . Gardens surround the house on either side and then wrap around the house at the rear. The two story home has rich wood flooring … (1 comments)

blog: Bank Owned - Compound - Transient Licensed - Key West - 03/29/10 02:13 AM

726 1/2 and 728 Passover Lane - Old Town - Key West - Bank Owned!
Don't let the location across from the Key West Cemetery scare you! Just listed - 726 1/2 & 728 Passover Lane in the Heart of Old Town Key West. This is how the listing Realtor describes this two home compound:
"Amazing BANK OWNED property with transient license in prime Old Town location near Solares Hill. Two combined properties offer a total of 3 bedrooms on a 5425 square foot lot, 2 off-street parking spaces, pool and lush tropical grounds. Main house (728 Passover) is … (0 comments)

blog: Irreplacable - 1010 Elgin Lane - Old Town - Key West - 03/28/10 01:52 AM
"Because Elgin produced so many watches and produced so many spare parts, they can still be easily bought and fixed, so even a 100 year old Elgin can be used, with care, on a daily basis. While mechanical watches can't compete with quartz watches for accuracy, there is something about having a watch that ticks that a quartz watch just can't replace." The Elgin Watch Collectors Site I got an early preview of a new listing at 1010 Elgin Lane which was just listed in the Key West mls. I took some pics and thought I would share some with you … (1 comments)

blog: Beautiful Arts & Crafts House - Bank Owned - Key West - 03/26/10 09:09 PM
This Old House as it looked in 1965 A local bank recently foreclosed and now owns the old house pictured immediately above. The old black and white photo was taken in 1965. Until a couple of months ago this property looked a little worse for wear. The years took their toll. Owners came and went. And then the lender did what lenders do when loans are not repaid as agreed: it foreclosed. But instead of letting a decent asset sit and fester like a lot of Big Banks that are Too Big To Fail do, the local bank did the … (1 comments)

blog: 1304 Atlantic Drive - Bank Owned - Key West - 03/24/10 01:28 AM

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 … (2 comments)

blog: 3814 Flager Avenue - Riviera Canal - Bank Owned - Key West - 03/23/10 12:18 PM

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 … (3 comments)

blog: Story Book Cottage - Just Listed - Key West - 03/22/10 01:31 AM
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 … (0 comments)

blog: 1412 White Street - Casa Marina Area - Key West - 03/16/10 04:28 AM
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 … (0 comments)

blog: The Bank Grinch Who Stole Christmas - Part Two - 03/15/10 03:43 AM
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 … (0 comments)

Gary Thomas (Preferred Properties Coastal Realty, Inc.) Rainmaker large

Gary Thomas

Key West, FL

More about me…

Preferred Properties Coastal Realty, Inc.

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

Office: 305-294-3040

Mobile: 305-766-2642

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