Tuesday, May 25, 2010

511 Frances Street--Short Sale

Short Sale

511 Frances Street just reduced to $1,295,000



Built in 1983 is a true replica of a Key West old town home with the luxuries of today located on one of the very best blocks in Old Town. There are three large bedrooms separate from one another with unique style bathrooms, his and hers offices off the living room, and an a separate artist studio off the pool. There is a wonderful serene outdoor covered dining space for those large dinner parties surrounded by lush landscaping and gentle lighting. The interior has pine walls with painted mahogany molding, and vaulted ceilings Located two blocks from the Seaport. And one of the best parts...Off Street Parking!

Take a look at some of these photos and imagine yourself relaxing by the pool, drink in hand.





Frances Street is a great location in Key West. It doesn't get the same traffic as it's neighbors on Southard Street and Fleming Street so it's much quieter. You can walk a block or so every morning, catch up with the other locals, and get the best Cuban coffee in the neighborhood at 5 Brothers (located on the corner of Grinnell and Southard Streets). You're also only a short 10 minute walk or less than 5 minute bike ride to the local grocery store, Fausto's located on Fleming St. If you want to get out and see some of that beautiful torquois water everyone talks about, go right out of your front door and walk just a few short blocks to the Historic Seaport and marvel at the giant tarpin, occasional sea turtle, and of course all the yachts docked nearby. Afterwards swing by one the waterfront restaurants for a drink before walking back to your home for a relaxing evening sipping a cocktail by your pool.

If you're interested in viewing this property or any other contact me, Cory Held.

Friday, May 21, 2010

Short Sales

The simplest definition, for those of you who aren't quite sure exactly what a short sale is, is a listing where the seller tries to sell the property for less than what the seller owes on it. These sales require approval by a third party, typically the bank through which it was mortgaged.

The short sale market here in Key West is starting to dry up as there are less and less available. Even fewer short sales left in the most desirable areas in the Old Town and Casa Marina areas. Many prospective buyers don't realize that Key West is a very different market from the rest of Florida as we're located on a 4x6 mile island. Space and the homes that occupy that space are typically priced differently than the rest of mainland Florida, even in these times.

There are more than 80 properties listed in Key West as Short Sales...take a look (HERE) and contact me if any of them interest you, as I have a SFR designation which means I'm a short sale and foreclosure specialist.