preferred properties key west: Key West has Fake Grass - 05/18/18 05:09 AM

During the height (or depth) of the 2008 Recession (which lasted into 2012 or so), I was taking photos of a bank owned home located in the South of Truman Area of Old Town Key West. A neighbor came outside to talk to me and told me a family member of his used to own the bank owned property. And then he related the tales of woe as to what lead to the demise of the once prized property.
As we stood in front of his personal abode he told me worked for the Florida Keys Aqueduct Authority, our local water company. … (5 comments)

preferred properties key west: 800 Fleming Street No. 3-B, Key West, Florida - 05/16/18 05:24 AM

The asking price for the top floor unit at 800 Fleming Street 3-B was just reduced to $875,000. That makes this unit a buying opportunity in my opinion. This is one of the earliest and finest renovated buildings in Key West and it certainly enjoys the prime location of about any single property in Old Town. The historic seaport is located three small blocks to the north and Duval Street is located three blocks west. You can be at any incredible Old Town location in a matter of minutes by foot. And when you return home you will be in the … (4 comments)

preferred properties key west: Two Presidents in Key West - 05/15/18 07:18 AM
 President Trump was in Key West a few weeks ago. I once said I wouldn’t walk across the street to see him even if he came here. But when it was announced that he was coming and would be driving past the block where I live, I did walk to the corner to watch him pass. 
I stood in the glaring sun for twenty or thirty minutes at the corner of Von Phister and White Street. The motorcade turned from Atlantic Boulevard onto White Street and sped towards us at lighting speed. First there were several Key West motorcycle police, then a … (2 comments)

preferred properties key west: 317 Catherine Street, Key West - 05/10/18 07:55 AM

I have lived in Key West for the past 23 years and have watched as this little old drinking town with a fishing problem has changed, much for the better, and sometimes for the worse. But it is still the place I would rather be than any other place on Earth.
The two above photos show 317 Catherine Street photographed about 53 years apart. The black and white photo was taken in 1965 and the color photo just recently. The house, built around 1923,  was typical for many of the other houses in the area. It was small, but it was big … (3 comments)

preferred properties key west: 1501 Pine Street, Key West - Price Reduction - 05/07/18 08:25 AM

The asking price on 1501 Pine Street, Key West, was just reduced to $1,149,000 making this Meadows of Key West homes one of the very best values in town. This stunning home is part of The Meadows condo association. Newly built in 2007 with top of the line materials and craftsmanship, this home features soaring 11' ceilings in the living area. The kitchen is top of the line with stainless steel appliances, beautiful granite and solid wood cabinets, plus a wet bar in the living room. The bedrooms are en suite with impressive architectural details including crown molding, high ceilings, porches … (2 comments)

preferred properties key west: In the Key West Closet - 05/05/18 05:10 AM

I check the Key West MLS hotsheet constantly throughout each day. It is important to know about each new listing and also be aware of price reductions and houses that go under contract. Just as important are new solds as they indicate what has sold, at what price, and identify the agents who listed and sold the property.
A few days ago I was drawn to the sale of little home a few miles outside of Key West. I seldom drive that far to show a house as most of my buyers want to be in Key West, and, more particularly, in … (5 comments)

preferred properties key west: Key West Real Estate Horror Story No. 10 - 05/04/18 06:37 AM
Today's blog is another in my series telling tales involving real estate gone bad. Previous blogs dealt with death and destruction. Today's tale is but a report of a deal gone terribly wrong where I imagine the participants shrieked to the heavens when they discovered a ghoul had got their goat. I am a reporter of this event and not a participant.
Several years ago the principal broker of a large real estate company in Key West decided to list his personal home for sale. I will call him "Philn.
The principal broker of an equally large real estate company, who I will … (5 comments)

preferred properties key west: 620 Thomas Street #283, Key West - Transient Licensed Shipyard Condominium - 05/01/18 03:52 AM

620 Thomas Street #283 is a second floor two bedroom Shipyard Condominium located about fifty feet from the community pool, one block from the new Truman Waterfront Park, and three blocks to Duval Street. It has a valuable special Truman Annex Transient Rental License. What more could you want?

Truman Annex Community is located three blocks from world famous Duval Street in Key West. The Shipyard Condos have been weekly rentals for perhaps hundred of thousands over the past two decades. Although the units were built around the same time, each is a bit different in current condition. Some places have been … (5 comments)

preferred properties key west: Gary's Got a Secret Listing in Key West - 04/18/18 04:35 AM

I received a phone call a couple of days ago from a lady who said she wanted look at such and such address. I then asked her if she had read a blog I wrote about that house. She said yes. I asked the date. She said it did not have a date. I said all of the blogs are dated, but I did not want to debate that point. I had a potential buyer for a house - I found the blog which I wrote in early 2014. (The date was in the upper left hand corner of blog.) The … (3 comments)

preferred properties key west: 1311 Catherine Street - Just Listed - Adorable Renovation - 04/17/18 10:11 AM

Just Listed, but not by me, 1311 Catherine Street, Key West. Long time readers of my little blog may recall seeing the same house featured here four years ago when it was a bank owned property. I took the photo below in 2014 to show the "potential" about which I wrote. That potential was achieved to a greater extent than I could have imagined.

 The listing Realtor describes 1311 Catherine Street this way:
"This ideal conch cottage is perfectly located to enjoy everything Key West has to offer. On the edge of Old Town, this 2 bedroom, 2.5 bath is sure to … (0 comments)

preferred properties key west: 606 Truman Avemue Unit 10, Key West - Great Old Town Bargain - 04/15/18 08:01 AM

Buyers seeking a well maintained primary residence or a second home with monthly vacation rental possibilities should take a look at 606 Truman Avenue #10 at Windward Park. This group of 13 town homes were built in 1988 to reflect the architecture of Old Town Key West but which have all the features for modern day living. 

The black and white photos above show the area around 606 Truman Avenue as it appeared in the late 1960s. The old cottages were located to the east of Duffy's where a small trailer park once existed. The cottages were razed and the trailers relocated … (3 comments)

preferred properties key west: 711 Georgia Street, Key West - Meadows Area - 04/14/18 03:40 AM

The asking price on 711 Georgia Street, Key West, just got reduced to $679,000 making this Meadows Area home an even better value. The listing Realtor describes the home this way:
"Priced $25K below recently appraised value this low maintenance, move in ready and ready for your touch. Tucked away in the quiet Meadows neighborhood is where you will find this charming 3 bedroom, 2.5 bathroom home with off street parking, private patio. The first floor features an open kitchen with granite counter tops and custom cabinetry. The second floor is where you will find the master suite with an ensuite bathroom … (2 comments)

preferred properties key west: 1227 Washington Street, Key West - 04/11/18 04:49 AM

Most potential buyers seeking an historic home in Key West will likely be searching for a charming cottage or two story revival style home in Old Town. If they are also shopping by price, they will learn totally renovated properties will be pretty "pricey" and non-renovated places will likely be both more expensive than they envisioned and probably will require expensive renovation.  The house at 1227 Washington Street offers the historic character that some buyers may find enticing. Let me tell you why.

I saw the property at a recent broker open house. An ancient Mahogany tree dominates the front yard which … (4 comments)

preferred properties key west: 527 Margaret Street, Key West - Just Listed in Old Town - 04/10/18 08:34 AM

Just Listed, 527 Margaret Street, Key West. The listing agent describes this beautiful Old Town property this way: 
"Stunning and Stylish Renovation in this Historic Home, Ideally Located on 500 block of Margaret St, walking distance to so many attractions, Restaurants and Galleries. Remodeled in 2015, the home underwent a complete Foundation to Roof Renovation and received the Historic Florida Keys Preservation Award in 2016. Features include Soaring Exposed Beam Ceilings, White Oak Wood Floors, Top End Appliances, A wall of glass leading to pool and Deck. Beautifully finished bedrooms and baths, with 2 bedrooms and additional loft. Being Sold Turn Key!"
I … (3 comments)

preferred properties key west: 627 Caroline Street, Key West - Conch House in Need of Revival - 04/07/18 09:31 AM

Just Listed, but not by me, 627 Caroline Street, Key West. This home is located is located a little over one block from the Historic Seaport which was the economic hub of commerce in the 1880s and early 1900s. I searched the Historic Sanborn Fire Maps and determined 627 Caroline Street was built before the 1889 map which makes sense given the located near the seaport.  As I studied that map I learned a large portion of the 600 block was a sponge drying field. I can visualize a horse drawn cart relocating freshly harvested sponges to Caroline Street to be … (2 comments)

preferred properties key west: 1028 Virginia Street, Key West - 04/04/18 12:18 PM

The new listing at 1028 Virginia Street, Key West is located about one block west of White Street. This property is located in the Old Town area known as South of Truman. CLICK HERE for a GOOGLE MAP aerial view of the area. You will understand why the lot is so large - two separate houses were combined years ago to create one larger property that today measures 48' X 85' or 4272 sq ft.  The aerial view shows and the City of Key West recognize three separate living units on the lot..
Even as early as 1965 when the above black … (6 comments)

preferred properties key west: Happy Easter Everybody! - 04/01/18 06:03 AM

Gary Thomas | Realtor | Preferred Properties Key West

preferred properties key west: Key West - Is that all you got? - 03/31/18 07:49 AM

I think a lot of people think selling real estate is easy. A Realtor simply sticks a sign in the ground, puts pictures in the MLS, and buyers show up to buy a house.  A Realtor then sends the contract to the title company and a big fat check is wired to the agent. That would be great. But that is not what happens.
I remember the time I had a particularly bad day. (Wait, as I write this I had a flash - when is that not the case? I have so many bad days.)  I got a call from my … (3 comments)

preferred properties key west: 917 Hibiscus Lane, Key West - Living Life in the Slow Lane - 03/30/18 08:48 AM

This particular week is one of the busiest weeks of the year in Key West. Thousands of families, college kids, and single adults are here seeking fun during Easter Week. The are moving about en-mass up and down Duval Street and nearly every other street in town. Getting anywhere by car is a chore and walking on Duval Street is nearly impossible especially if you get behind a fat family of which there are many. There are some exceptions where there is no traffic this week, nor any other week. These are what I like to call the slow lanes of … (2 comments)

preferred properties key west: Odds Are You Lose. Why Waiting for the Right Time Fails - 03/27/18 08:01 AM

Today's blog entry is for you disbelievers and prophets of doom and gloom who believe the asking prices will go down and not up. I will concede that the asking price on a lot of our housing stock has been priced too high and that a lot of homes have not sold because common sense tells us a particular place is just not worth what some sell wants it to be worth. In the past couple of months there have been more daily price reductions than closed transactions posted to our local MLS.
There have been 114 residential sales in Key West … (2 comments)

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

Gary Thomas

Key West, FL

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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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