Just thought you should know I have just reduced the price of this water front home to $2,150,000. Way below what the current owner paid and he may include several thousands of dollars worth of furniture. This home was built 10 years ago of poured concrete. Spacious 4 bedrooms 4 1/2 baths. It probably has one of the largest heated pools in Key West. Call for an appointment, it is generally easy to show.

Real Estate in Key West

If your waiting to buy a home in Key West for a price, you may have a pretty difficult time. At this point our inventory is very low, which generally creates a price increase. We have seen many properties sell this season and at this time have very few short sales or REOs available. I remember in 1999 when people sat back and said will just wait until the market comes down and it didn't, it kept shooting up, to where it was untouchable for most. Well now it isn't like that, although we are still expensive, it's more affordable, but that won't last.


If you are thinking of buying, some great tips to make it easier for you and your REALTOR,
would be to bring with you prequalifing letter from your bank or accountant. I learned my lesson with a customer who didn't have one and didn't have any idea what they could afford, although they bought a great house we discovered that when we went for financing, they could have spent a great deal more. Try to have a clear idea of what area you want to be in and what style you are looking for including the amount of bedrooms and baths. Remember Key West is


not like the place you live in, you will be buying something very different and generally not as large as your primary home. Remember also Key West is not a town governed by square ft price, as not two houses are the same or on the same size lots.


In another few days Iwill be posting some great new listings. In the meantime visit my Web site for current available and call me before you are ready to come down.


Cory Held

www.coryheldrealtor.com
305-240-0355

HGTV

I hope you all got to see the new HGTV last night called Beachside Properties. It feature me with 3 outstanding properties in Key West. This show will be repeated many times. It shows just how great the houses are here. The customer featured bought an incredible 5 bedroom home and have since done so much to improve it. You can do the same. Although there is little inventory right now, there are some magical places still on the market...
We are very fortunate here in that this is such a special island, so the overall market trends of the rest of the nation don't apply. Although Key West has seen a dramatic drop in prices since last year we still up over the national average...Having said that this maybe the last opportunity for you to get in on our bottom.
I have consistently been in the top 10 agents here for the last 5 years and would love the opportunity to help you or even answer your questions. From time to time I will post some
photos of homes for you to view, but for now I will try to keep you informed as to where we are.

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.

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.

The market in Key West is certainly heating up. We now have much less inventory than we did last year and several pending properties. There are still some opportunities, if you are willing to do a little renovation. We are seeing an increase in the Million dollar market here, which we have not had in a long time, and we are seeing multiple offers on good properties.

511 Frances $1,575,00

Click Here for more information.

Key West is still so desirable. We have so much to offer, if you not ready for Palm Beach, Miami or Ft Lauderdale. Writers find this a paradise filled with information and inspiration. We have some of the best in theater, music and art. Just last Saturday Evening, the Key West Pops of which I am V.P and Fund Raiser had a concert with 6 piano men, playing classical and pop.

You can do something every night, but first you have to buy a home here. Look at some of the great properties I have available.

625 Louisa $619,000

Click Here for more information.

Old Island Restoration Award Winner- Key West

Casa Palmera claims a prime location just steps from the ocean and five blocks from famous Duval Street in Key West. An ideal island home that has been recently renovated to the pinnacle of modern living with fine finishes, unique architectural features, and a distinct sense of privacy and tranquility. The home has been recognized with awards from the Old Island Restoration Foundation three times in 1995, 2003 and 2006.