Living in Key West - Thomas Phelan Realtor

Living in Key West - Thomas Phelan Realtor Helping people enjoy living nKey West

02/03/2022

Today I am in Dallas TX visiting my daughter and her husband. I woke up to snow on the ground. Meanwhile in Key West it 73 degrees. Enough said.

11/17/2021

Should you be prepared to make an Offer on a Keys Home “Sight Unseen”?

I ask many of my Clients this question when they are actively searching to buy a property in the Keys but cannot physical be here.

Selling properties sight unseen in not new to me. Back in 2010 when my wife and I created a 108-acre Vineyard Development in Mendoza Province Argentina we sold five boutique Vineyards, sight unseen.

One American Investor used his Individual 401(k). Another American Investor used her Self-Directed IRA with Checkbook Control. The vineyard investments turned out very successful with Malbec grapes producing Gold Medal winning wine. More on this in a subsequent article.

Most people are not emotionally equipped to make sight unseen Offers and maybe that’s a good thing.

After all, buying a home sight unseen is not the same as buying a new car sight unseen. If you missed your chance to buy a brand-new SUV you can always order an identical one, same model, engine, color, and interior.

This never happens with homes unless tract built.

It is estimated over 50% of Key West homes are owned by people from Northeastern states and I would wager a majority did not buy their homes “sight unseen”.

If it’s a Seller’s Market which it is, and Listings are priced realistically, most homes sell in a week or two.

MLS Announcements of “Price Reductions” and “Open Houses” with catered food do occur more frequently but still homes sell in weeks not months.

And “Months” is what out-of-state Keys home shoppers hope for, i.e., find the perfect Key’s home while surfing the internet from the comfort of their NY, NJ, PA, MA, CT, even IL, IN or WI homes. Then, at their convenience, visit the Keys weeks months later expecting to view a list of prospective homes.

Fact, the Key West MLS October Report shows “Day On Market” having decreased again compared to last February when it required 110 days on average for a home to sell.

It doesn’t hurt to look but don’t set your heart on a property you are not in the position to purchase for months, eve years.

Stay tuned for more …
Thomas Phelan
Keys Realtor®
Robert Slack LLC

08/03/2021

In 2013 my wife and I moved to Miami from San Rafael Argentina where we built Malbec Vineyards that we own todauy.

We visited charming Key West many times and moved to Key West where where no two houses are alike as no two residents are alike.

Having been in real estate for decades as Investors and Realtors, we both gravitated to helping people find the perfect home.

For many of the people we met the story often had a common basis, they first visited Key West for a short vacation, then a week followed by several weeks and then to a month or more eventually leading to buying a 2nd home to escape the cold winters of the North.

07/29/2021

My wife and I visited Key West numerous times during our five year stay in Miami, in between trips to Argentina to tend to our vineyards. Like so many residents of Key West we originally never pondered living in Key West but its enchantment slowly seduces you. Like so many great people we have met in KW who visited years ago for a short holiday, then returned for a week, followed by several weeks then searching for a 2nd vacation home or perhaps like us, permanently relocating.

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College Road
Key West, FL
33040

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