Key West, FL

Just Listed (but not by me) 1012 James Street which is located a little over one block from the Historic Key West Seaport. This is how the listing Realtor describes this special home:

"This is a magical cottage with an open floor plan, saltillo tile floors, wonderful screened porch overlooking the 10 X 20 foot pool (7 feet deep with swim jets) and gardens. In addition, two sets of French doors from the living area open to a beautifully designed side porch which also opens from the kitchen and has access to the pool and gardens. There are two bedrooms upstairs each with private half baths and a full bathroom on the ground floor. Off street parking."

1012 James Street is offered at $625,000 or $661 per sq ft. CLICK HERE for more detailed information on this home and to view photos of the interior and pool. There is also off street parking and a white picket fence. If you are unfamiliar with James Street look at the MAP. This home is located across the street from the Keys Energy building and about one half block away from Finnegan's Wake. The Seaport is just one block further north. There you will find Harpoon Harry's, Pepe's, the Key West Waterfront Market, Key Accents, Half-Buck Freddies and many more shops and places to eat and drink. Duval Street is five blocks to the west.

There are still some fixers left in the area. They will eventually get purchased and remodeled. What there are not a lot of are cute houses like this with a pool and parking that are priced within the reach of many second home buyers. If you are coming to Key West in the near future, you need to schedule an appointment to see this house. Please call me, Gary Thomas, 305-766-2642. Let me help you find your place in Paradise. I am a full time Realtor at Preferred Properties Coastal Realty, Inc. in Key West, Florida.

1212 Olivia Street - Key West - January 2009

Way back on January 12, 2009 I wrote a new blog entry on 1212 Olivia Street. CLICK HERE to read what I said then. The property was a newly listed bank owned house in Old Town Key West that was priced to sell at $599,900. I showed that house twice the day it was listed, and other agents were there right along with me at both showings. Someone had removed the kitchen and did some minor damage by removing bathroom sinks. But that house had a wonderful rear yard and large pool that more than made up for the inconvenience and cost to repair and replace things that were missing. That house went under contract within seven days of being listed and closed within 3 months for just $540,000. CLICK to see sold listing data.

The new owners engaged a local gay duo that "do" houses very well. Within a matter of months the place was spiffed up and made even better than before.

I received a phone call yesterday about this house. The gentleman mistakenly thought I wrote the blog in 2010, not 2009. I explained the house sold within days of being listed and told him know what a good deal he missed. I later recalled that I had received several other phone calls and emails on this particular property during the past few months.

I drove past 1212 Olivia Street earlier today. Right below you will see a photo I took today that proves my point about what a difference a year and a gay (duo) make. The guys that did the interipr dod a terrific job. I'm sorry to report I don't have any photos, however.

1212 Olivia Street - Key West - February 2010

If you are thinking of buying a house in Key West You can search the official Key West Association of Realtors mls website by CLICKING HERE. If you see something you like, please call me, Gary Thomas, 305.766.2642 or contact me by email at kw1101v@aol.com. I am a full time Realtor at Preferred Properties Coastal Realty, Inc. Our office is the exclusive lower Florida Keys affiliate of Christie's Great Estates.

1502 Petronia Street - The Meadows - Key West
Open Sunday 1:00 pm to 3:00 pm

Originally Priced $1,795,000 Now $975,000

1502 Petronia Street is priced at $975,000 or $568 per sq ft for this 1717 sq ft home. It is owned by a local bank in Key West. Come by and compare what you can get for your money. This property is one of eight completed in 2007. Four units are currently available. This unit is the only two bedroom unit available, and it is a doozy! This home is located on the corner and it has a lot of privacy and great view from the second floor front porch where you can sit and watch the incredible Key West sunsets every night. Only One house sits across the street. That house takes up the entire block. It is priced at $4,795,000. Nice neighborhood! (You will not need to worry about declining property values!)

The home at 1502 Petronia Street is part of The Meadows condo association which is comprised of eight homes. Each home is owned in fee simple and sits on an individually owned lot. The association exists to provide access to rear parking via gated driveway and storm water runoff.

The homes were newly built in 2007 with top of the line materials and craftsmanship. This home features soaring 11' ceilings in the living area and kitchen. The kitchen has top of the line stainless steel appliances, beautiful granite and solid wood cabinets. The kitchen area includes the lower portion of a two story turret. The turret portion of the kitchen is configured as an office or nook area of sorts. There are lots of windows in the kitchen so your cooking will not be a chore but a dream. There is also a wet bar in the living room. The floors on the first floor are travertine marble. The stairway and second floor bedrooms have wood floors. The master bedroom features a second turet. The ceiling is vaulted so that room has an especially large feel, yet the turret makes the space so very special. The master bath is just opulent. I challenge you to find any more luxurious bath in Key West for less than $2 million. You won't find one.

Architectural details including crown molding, high ceilings, porches and solid wood doors. The wood doors on the first and second floor front are massive and of the highest quality. The 8' sliding doors that separate the living area from the pool are hurricane impact resistant to 155 mph that open wide to let the outside become part of the inside. A private, gated drive leads to the carport and a separate entry to the private pool and spa area. Each home is completely fenced and beautifully landscaped. CLICK HERE to see more photos and listing information on 1502 Petronia Street.

This home is located in the Meadows area of Key West. Bayview Park, complete with an old fashioned bandstand and public tennis courts, is located three blocks to the south. The White Street arts district is a five minute walk. The Garrison Bight Marina is located one half block away. Duval Street and the Historic Seaport are each a five minute bike ride. The three large shopping centers (large by Key West standards) are five minutes by car. The Key West International Airport is five to seven minutes depending on traffic.



I think empty nesters or a gay couple would find this home to be just about perfect. Stop by on Sunday to check it out.

CLICK HERE to view a list of of town homes and condos with similar features that were built about the same time. Compare the prices (and the size, amenities, and location) to see why I think 1502 Petronia Street is such a really good buy.

Smathers Beach - Key West

If you lived at 1800 Atlantic you could walk your dog or jog by this beach every day for eternity and still never get over the beauty of the Atlantic Ocean and Smathers Beach.

A couple of weeks ago I started to write a blog about a new listing at 1800 Atlantic that I thought was just incredible. I got distracted by real deals I was working on and did not finish the entry. It was priced at $1,235,000 and had a captivating direct ocean view. It went under contract within within three weeks of being listed. CLICK HERE to see what got away. Two other units (one offered at $579,000 and the other priced at $329,000) went under contract since mid January. It makes me wonder if we are at the start of another rush to buy at 1800 Atlantic just like the one that took over the Key West Golf Course late last summer. For a while there was an abundance of units at the Golf Course. Now there are nearly none.

CLICK HERE to checkout the twelve remaining units at 1800 Atlantic Condominiums. The aerial photo below shows the property and its proximity to the water. Every unit has a water view. Some have better views than others. The condominiums were built in 1987 and many have been remodeled. While most have the same square footage, each will be somewhat different than the others. Many of the units have Transient Rental Licenses which permit the owner to rent the unit on a daily basis. (Most are rented weekly, however.) Units without a transient license can rented as vacation rentals (monthly-once per month). Some of the units are offered fully furnished. None of the units I have included are short sales. Read the listing comments to make careful comparisons.



1800 Atlantic has its own private beach, but I must admit you would probably prefer to swim in the huge pool or take a dip in the giant spa. There are three tennis courts, a hidden and surprisingly beautiful interior courtyard, and covered parking with additional storage. Oh, Smathers Beach is located directly across the street from 1800 Atlantic.


If you would like to see any of the remaining condos at 1800 Atlantic, please call me, Gary Thomas, 305-766-2642. I am a full time Realtor at Preferred Properties Coastal Realty, Inc. in Key West, Florida. These units are very popular and tend to stay rented continually through season. Advance notice is required to see any unit and some properties may not be available even with advance notice as some owners do not want to disturb their paying guests.

This has been one crazy winter so far. The weather has been uncharacteristically cool by Key West standards. We have had cold days, hot days, cool days, rainy days, and sunny days. But one thing for sure: we did not have one SNOW DAY!

People come back to Key West year after year after year. A lot of the buyers I work with have been coming to the Keys since the 1970's and 1980's. Most of my buyers are in their late 40's or older, and almost everyone is looking to purchase a place in Key West where they can retire at some future point in time. If you are among the many who want to buy a little piece of Paradise, my advice is simple: don't wait too long.

There were 23 single family home sales in Key West during January 2010. Four of those sales were bank owned properties and 11 were short sales. The average sales price was $305 per sq ft. But that sales data includes all of Key West whereas most second home buyers prefer properties located in Old Town, Casa Marina, and the Meadows. I refined my search to only those areas and excluded the one short sale at 1015 South Street (hell of a deal !). The result was four homes that sold for an average of $510 per sq ft.

The number of sales in January 2010 (23) more than doubles the number of single family sales in January 2009 (10). There are plenty of buyers for lower priced properties. We did not have any sales on larger, more expensive homes in the Old Town, Casa Marina or Meadows area.

Currently 145 single family homes are shown as contingent or pending in Key West. Thirteen of the 145 contingent or pending sales are priced above $1 million with an average list price of $787 per sq ft. Six of those properties went contingent or pending in January. A lot of short sales that have been hanging around and getting gray hair are starting to get approved and closed.

A couple of weeks ago I wrote about Key West has reached the bottom of the barrel. I stand by what I wrote. Within a couple of days a couple of nice houses priced under $500,000 were listed. One sold on the first day it was listed. CLICK HERE to see the 8 houses in the target area that are priced at $499,000 or below that I think most second home buyers might actually wan to buy. We have an abundant supply of homes priced over one million dollars, however. But that supply may be starting to shrink as well. The pickings, Dear Reader, are getting slim.

If you are looking to purchase a piece of Paradise and do not want to get shut out again, please call me, Gary Thomas, 305-766-2642 or contact me by email at kw1101v@aol.com. I am a full time Realtor at Preferred Properties Coastal Realty, Inc. in Key West, Florida. We are the exclusive Lower Florida Keys for Christie's Great Estates. CLICK HERE to search the mls.