gary thomas: 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)
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gary thomas: 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)
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gary thomas: 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)
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gary thomas: Huge Price Reduction -- 421 Simonton Street Key West -- Commercial
- 03/11/08 02:41 AM
The asking price just got a lot better on 421-423 Simonton Street in the very heart of Old Town Key West. This property is the ugliest of ducks in Old Town. But the location is just about as good as it gets. The property is ripe for renovation and the new asking price makes that prospect of renovation more realistic. 421 Simonton was originally listed in April 2006 at $2,299,999. It didn't sell, and the price has been sporadically reduced on March 4th. The new price is $1,350,000. This is what you get for the money: 3766 sq ft building on … (0 comments)
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gary thomas: Snow Place Like Home
- 03/10/08 03:16 AM
When the weather up north makes the evening news I always thank God I moved to Key West. The snowstorm and tornadoes that hit the Midwest last week were devastating, and I make no joke about that. I lived in Colorado for all of my life until I moved to Key West in December 1993. I remember many times when the thermometer hit 20 below zero and I would have to get up a couple of times during the night to start the car just to make sure it would start the next morning. I had a huge front sidewalk that … (1 comments)
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gary thomas: 709 Bakers Lane Old Town Key West, Fl
- 03/08/08 02:45 AM
Two of my friends from my former office are multi-million dollar real estate agents year after year. During their time off from their busy real estate practice, they renovate homes for fun and profit. They design each property for a discerning buyer and oversee all of the construction to make sure the work is done to their standards. The home at 709 Bakers Lane was their crown jewel in Key West. This property at 709 Bakers Lane is just two blocks from Duval on Solares Hill--the highest point in Key West. The compound is actually two homes plus a guest cottage … (0 comments)
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gary thomas: 826 Olivia Street Old Town Key West
- 03/07/08 01:24 AM
First time to do this. Two blogs entries on the same day. So it must be important. A local Realtor (who is also the owner) just listed 826 Olivia Street in Old Town. The house has been tastefully updated and is priced to sell quickly at $695,000 or $690 per sq ft for this 2 bed 1 bath home of 1007 sq ft on a 1731 sq ft lot. This property was listed for sale at $749,000 in 2007. Old pic shows the house in 2005 before the fairy dust was applied. The other pics are of its present incantation. It … (0 comments)
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gary thomas: Inspired Minds Want to Know
- 03/07/08 12:55 AM
A woman walked into our office the other day and asked to speak to the guy who writes the blog. Everyone looked at me and wondered if they should run for the door. She owns a home (not condo or townhome) on the Key West golf course that she is trying to sell. She wants to sell her house at a high price based on today's market without using a Realtor. "Why come to me?", I thought. Then she said she wanted to stop paying her mortgage payments because of something she had heard on TV about mortgage relief. I asked … (1 comments)
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gary thomas: Isn't It Romantic? 1717 South Street, Key West
- 03/05/08 12:27 AM
Look at the pics to the right. The pics are of a house at 1717 South Street in Key West. Isn't it romantic? The house is located in mid town. I don't write about that area much because it isn't where second home buyers typically want to buy. But when you can buy 1900 sq ft house with 4 bedrooms and 3 baths on a huge double lot (8531 sq ft) for the asking price of $1,100,000 (just reduced from $1,179,000) the house seems like attractive buy at $579 per sq ft. Here is how the listing Realtor describes this property: … (0 comments)
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gary thomas: Won't You be My Neighbor? 1125 Washington Street Key West,Fl
- 03/04/08 12:52 AM
I've told you before about the joy of living in the Casa Marina Area. The streets are wide, the yards are big, there trees are tall, the houses are usually much larger than those in Old Town, and most important the beach is only a couple of blocks away. Some Realtors fudge and call the area from Truman to the Atlantic and First Street west to Duval the Casa Marina area, but I say it is South to the ocean and White west to Vernon. And don't think the location makes any difference, because it does. Just as Old Town sells … (0 comments)
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gary thomas: Do Overs
- 03/03/08 01:23 AM
Remember wanting to get a "Do Over" as a kid? It had nothing to do with renovating a house. And it had absolutely nothing to do with the "do" or "sweep" some half-bald guy uses to disguise his very high forehead. But it had everything to do with achieving a better result because you knew you could do it better if you could just do it again. It was like instant replay, but with a different and this time winning outcome. I've been selling real estate in Key West for 11 years and I've heard so many people tell me they … (0 comments)
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gary thomas: 723 Catherine Street Key West, Florida
- 03/02/08 02:23 AM
I showed the truly unique home at 723 Catherine Street last week, and I was amazed by the property. There is not another home like it in Key West. It is truly one of a kind. From a bottling plant to a contemporary gem, this former cola bottling plant was converted in 1995 into a spacious, open, modern home and is a recipient of the prestigious Ceramic Star for Architectural Preservation Excellence. Lush gardens surround a beautiful pool with a waterfall, an outdoor shower and a large poolside loggia that is great for dining and entertaining. High privacy walls insure peace … (0 comments)
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gary thomas: Season's Beatings!
- 02/29/08 08:57 PM
Season's Beatings! may be a little extreme for a title, but it may help entice you to read about how the Key West real estate market fared so far this Season. Season is 2/3 over. Two months down and one to go. Then the buyers go back up north to live in the smoke and smog until next year. Sure we will continue to have lots of people who come to Key West after Easter (March 23 this year). But those visitors are usually cheap Floridians and or economical European tourists who come to enjoy the great Key West weather at … (0 comments)
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gary thomas: 831 Johnson Lane Old Town Key West, Fl
- 02/29/08 06:32 AM
Are you tired of everything being just perfect? Everything "Up to the minute"? Want to go back to a quieter, gentler time when time did not matter? When perfect was not de rigeur? When you open the white picket fence and cross the threshold at 831 Johnson Lane in Old Town, Key West you pass gently into such a place and time. It is magical. The house at 831 Johnson Lane is actually a combination of three separate buildings plus a couple of out buildings. All of the living areas open onto the rear pool and gardens. And by "gardens" I … (0 comments)
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gary thomas: 5 Hunts Lane Old Town Key West, Fl
- 02/28/08 01:10 AM
Are you one of those adventurous sorts that feels the need to leave your mark for posterity? Do you want to be the next Norm Abrams and redo a historic Key West home? Well this little home at 5 Hunts Lane may be your dream project. Here's the skinny. The house is located on Hunts Lane which is on the north side of Southard Street midway between Grinnell and Margaret Streets. Five Brothers is located at the corner of Grinnell and Mangia Mangia is located at the corner of Margaret. So you can walk to get your morning jolt of Cuban … (2 comments)
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gary thomas: The Value of Location
- 02/26/08 02:49 AM
Way back in 2003 or 2004 I worked with one of the Key West real estate stars. She had a listing on White Street one half block south of Truman. The house had been totally redone. Three bedrooms, 3 1/2 baths, stainless steel appliances, granite, higher end kitchen cabinets, new3/4 inch solid maple wood floors, pool, and off-street parking. It was listed at $595,000. I hosted Open Houses there for weeks and weeks. I got business off the open houses, but no one would buy it. The feed back I got was that the house was great, but prospective buyers did … (0 comments)
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gary thomas: 1119 Olivia Street Old Town Key West, Fl
- 02/25/08 12:05 AM
The little house at 1119 Olivia Street in Old Town Key West has just been reduced to $585,000 from its original price of $1,275,000 in March 2007. Half Price! Too bad it wasn't worth the original asking price, however. The property is owned and listed by a Realtor--not me. Thank God. But he must disclose that to the public. Please don't take these comments on my part as being negative. But you need to know the facts when you invest your money in property. Especially now! This is an excellent opportunity to own your own Conch home located in Old Town. … (1 comments)
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gary thomas: Flying Down to Buy REO in Key West
- 02/23/08 03:13 AM
Flights to Miami and Ft. Lauderdale are cheap this time of year. Even some flights to Key West are relatively inexpensive. So hop on a plane and fly on down to Key West to buy yourself an REO. REOs are real estate owned by banks and mortgage companies acquired through foreclosure. In case you missed the news the past year or so, we got problems in the banking and mortgage fields due to variety of causes. As a result lenders across the country (and internationally as well) own a lot of residential properties in all price ranges and in all localities … (0 comments)
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gary thomas: 409 William Street Old Town Key West, Fl
- 02/21/08 01:08 AM
I wrote about 409 William Street a few months back. I was hoping that some buyer with a few extra bucks would contact me and say "Let's buy that house!" But that did not happen. For the last umpteen years it was the Gideon Lowe Guesthouse and later Whispers Guesthouse. The current owner bought the property in June 2005 for $2,000,000 and started an extensive renovation of the property. Everything is new and first rate. The owner/developer did not cut costs or corners. The house is 2850 sq ft and sits on a 4422 sq ft lot on one of the … (0 comments)
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gary thomas: Cheep Cheep--Not Cheap Cheap!
- 02/15/08 03:32 AM
There are a few things that just about every first time tourist or seasoned traveler does in Key West: take pictures of the wild chickens, eat conch and or key lime pie, ride the conch train, and checkout the real estate listings outside local real estate offices. Some folks return season after season and remark about how high the prices have risen. They say things like "I wish I would have bought that a house back when the prices were cheaper." These days they say things like "I don't think we've seen the end of it yet"--meaning the prices will continue … (2 comments)
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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)
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