Known for its vibrant sunsets and pastel-colored houses, Key West is an island city that welcomes residents and visitors alike with both its liveliness and tranquility. Here, you can see the city by foot, taking time to notice the quirky architecture all around you, or on the water by enjoy a relaxing sunset sail. Find musicians, performers, and food stands all in the dynamic Mallory Square. Visitors and cruise-goers can dive and snorkel down to its famous coral reefs. Connected to Florida by the Overseas Highway, Key West has rightly so become a major port city. This sunny island attracts both families and individuals, making it a much-desired place to live, and, as one of Florida’s main destination spots, home values have continued to rise.
However, before you start advertising your Key West home, it is necessary to review your finances. According to Neighborhood Scout, the median home value has gone up by 4.72% over the last few years. Even though this rate sounds reassuring, it is necessary to take note of other key factors in order to decide on an appropriate asking price. For example, the time of year that you would like to advertise the property, your maximum budget for upgrades or repairs, and any additional services such as brokers or personal marketers.
Similar to most of the state, it can take anywhere from a week to a month to buy or sell a house in Key West. Some of the essential preparation methods for buying or selling a home in Key West include online marketing, in-person streams, home staging, and asking price research.
Data USA reports that there was a 2.65% increase in population between 2015 and 2016, resulting in a community of 26,990 people. The median value of property in 2016 averaged to $474,100 with a 4.72% increase in estate value. With a growing amount of newcomers, why not take the opportunity to enter the Key West real estate market? Using the most effective resources and services, you could benefit from the latest prices and trends.
Cut down on costs by marketing your Key West house yourself using beycome. This service provides organized guidelines, state-of-the-art marketing tools, and a complete list of necessary legal documents all on a free platform that connects you directly with buyers and sellers alike. Enter the Key West real estate market easily, cost-efficiently and stress-free using a full range of services. Services offered include:
Thorough guides to marketing
Virtual tour and videos
Printable promo ads
Open House Scheduler
Listing on your local MLS
Listing on popular real estate sites
Home Visit Manager
Outside marketing tools
Full legal offers
If you have made the decision to purchase property in Key West, the options are plentiful and more often than not high in quality. The island-based city is known as one of Florida’s best real estate locations with popular housing and values to match the areas' popularity. The city is also home to a full range of businesses and locations that add the diversity and cultural enrichment of the area. When looking to purchase a home in this area, it becomes invaluable to organize your finances in order to have a better grasp on your real estate options.
When you purchase a home in Key West, it is important to purchase a home that you can comfortably afford. Otherwise, the financial stress that follows purchasing a home above your fund range could affect you for a lifetime. The average property in Key West is often priced at around half a million dollars. If this price is not within your range, then consider researching available mortgages.
Mortgages are often used by people looking into buying homes as a helping hand to reach the funds needed to comfortably buy a property. They are not free though, the median down payment for mortgages across in the United States is 10 percent of the purchase price. You will have an easier time finding better deals for mortgages when you work with a website like better.com.
It is best to find real estate with a rate of about 6% for the next 30 years to cut down on the pricing. The process is easier when you know more about your credit score. Research your ability to apply for pre-approval after closing your home. Mortgage lenders often work best with you when they see a good history of credit score, money down, savings, and steady employment.
203k Rehab Loan
Addresses for Involved Properties
Proof of Homeowners Insurance
Social Security Numbers
You should have all these documents ready in order to make sure the mortgage process is handled as smoothly as possible. You should also search up ways to avoid paying any unnecessary fees by working with websites like beycome.
Key West is small for a city, it is only 2 miles by 4 miles long, but that has not stopped the development of its neighborhoods. The city has several neighborhoods, all with their own styles and histories. Key West is a high-profile city full of different areas to understand and explore. Whether you are shopping for an apartment, condo or house, Key West is able to provide. Check out some of the cities finer neighborhoods.
Bahama Village: This historic area is known for its unique homes and roots that stretch back to the 1800s. Gentrification and renovation of the area have transformed this area into a thriving hub of ethnic businesses and cottage-style homes.
Beachside: This neighborhood is found close to the southern shore of the island and the homes here constantly enjoy the fresh breeze from the shore. The shoreline is dotted with businesses and lined with pathways that help keep the pedestrian traffic flowing. The neighborhood is full of luxury complexes and residences that are within walking distance of several other neighborhoods.
Casa Marina: Extending all the way from the mainland, this luxurious coastal locale is a famous shoreline treat. The area has been steadily growing since the 1900s with architecture from several periods dotting the area. Some of Key West’s best and most famous locations are just a short walk away.
Downtown: A compact area with plenty to offer in terms of shops, offices, entertainment, restaurants, bars, hotels, and churches. Cottage-style residences dot the area and in the center of it all is the middle Duval street, acting as the center of the cities infrastructural design. That makes this one of the most populated, and popular areas, in the city.
Golf Course: A planned, gated community complete with luxury villas and residences set on top of a massive golf course. The private resort condos in the areas reside in a massive resort complex. The area is dotted with classic designs that mark the best of Floridian architecture, such as lush tropical landscaping, white picket fences, tin roofs, sitting porches, and balconies.
Heart of Old Town: The center of old town provides plenty of context for its history, especially with the homes here actually coming from the cities olden days. The entire area is rife with these odes to the past, many actually carried over from as far away as the Bahama’s a century ago. This neighborhood has hosted celebrities whose homes still stand as museums today.
Historic Seaport: This Gulfside neighborhood contains turn-of-the-century architecture that has survived the better part of centuries. The renewed and renovated homes have not lost their old school charm and stand as some of the area's best properties. There are also newer waterfront restaurants and bars, fishing and sailing charters, museums, and retail stores available nearby for your convenience.
Mid Town: What was once a simple area has transformed into a lush residential one complete with large lawned mid-century homes. Homes here match the dream home aesthetic with lush landscapes and plenty of swimming pools.
New Town: One of the larger areas in the city, New Town actually comprises of most of the island. The area is full of luxurious homes, magnificent villas, and modern style plazas. The neighborhood also contains plenty of schools and entertainment locales like a basketball arena and skatepark.
Sunset Key: A neighborhood consisting of over 27-acres of pristine, island-based community. The area is full of some of homes that embody the cities most luxurious home-style choices. This includes Victorian architectural style homes and cottages, brick roads, tropical flower gardens, white picket fences, and tropical landscapes.
The Meadows: Originally a suburban neighborhood, this neighborhood has developed into a more natural feeling area. Less commercial than other areas, this neighborhood still has a variety of art galleries, restaurants, bakeries, and shops.
Truman Annex: An upscale gated island community named for the president who spent his winters here. The area has become developed into a parklike neighborhood complete with walking and bicycle paths. The buildings here are classically made manors, luxurious and with Italian and Greek Revival architectural styles.
Uptown: A small area with plenty to offer, including shops, boutiques, and galleries of all kinds. The area has Victorian style homes and cottages, along with some of Florida’s most famous cigar based businesses.
White Street Gallery: This neighborhood offers a full variety of homes and businesses that range in both styles and sizes. Different restaurants, bakeries, Coffee Shops, consignment shops, tile stores, grocery stores, and art galleries are found throughout the area. The homes here are also made in a variety of styles.
Due to the nature of the city, having a car is not necessary in Key West. The city offers different modes of reliable public transportation. Some are free or have discounts depending on their providers.
Bicycling: The city is full of bike rental businesses and paths. The city is bicycle friendly but bike lights are required.
Pedicabs: Bicycle powered rickshaws that have you carted through the city at a low price. Many are able to get you to most Old Town locations within half an hour.
Buses: The bus services are varied and stretch throughout the city. For free services, the Duval bus loop is available and takes you around the city.
Trolleys: Another form of transportation that may require a day pass to us consistently during your trip.
Florida Keys Community College: The acclaimed school has been around for over 50 years and stands as a pillar in the Key West community. Since its establishment, the school has kept up with the times and acts as an accessible school open to everyone. The school relies on values of responsibility, community, academic excellence, and achievement.
Hodges University: a non-profit, accredited university that provides associate, bachelor’s, and master’s degree programs. The school is often touted for its reputation to cater to adults who balance academic learning with full-time jobs and family responsibilities. The school also provides comprehensive English as a Second Language (ESL) programs, meant to help teach non-native speakers of English.
Pharmacies: CVS, Walgreens, VH Pharmacy
Grocery Stores: Publix, Whole Foods, Sedano’s
Convenience Stores: 7-Eleven, Stop'n Shop, Red Apple Market
Once your basic needs are met, the next aspect of a home you should pay attention to is structural aspects and architectural style. Each Key West neighborhood comes with different styles that you want to be sure suit your tastes. You should also make note of what repairs are needed for a home.
Closets and other Storage Spaces
Number of Rooms
Numbers of Floors
Garages or Parking
Numbers of Porches or Decks
Stay focused when looking for a home by starting with a clear idea of what you are looking for in an apartment, condo, or house. There are several resources available to help you find a home such as the internet, advertisements, and open houses. You can whittle down the list by asking questions and using these resources. It is also important to go in person to the various estates to get a first-hand account of the property.
When you are searching for real estate to purchase in key west, it helps to learn as much about a home as possible. Open houses are great opportunities to learn more about a home and ask questions about its state. You can see more of a property that may be available online, which can be invaluable when searching for any issues with a property.
Are there any association fees?
Has it recently been refurbished, redecorated or renovated?
What are the price comparisons like?
How long have the homes in question been listed for sale by their owner?
How much time to do you have to make a decision?
Is there a deadline?
What are the current utilities like?
Why are the owners selling?
When you aim to purchase a property, the process is quite involved and is made to be as fair as possible to both parties. It is in your best interest to research comparative market analysis and look into the average prices of homes in the surrounding area. Once you have better context, you can better gauge the fairness of a price. You should also look into the contingencies you will need to include in a contract.
Home inspection Contingency
Home Appraisal Contingency
If a property high in demand, then you may need to strengthen your efforts to confirm a contract with the seller. It may be required to increase the rate or earnest money in order to make sure that a contract goes through. You may also shorten contingency periods or lower them entirely to increase seller confidence in the transaction. Their confidence will also raise with shows of goodwill like an in-person introduction, a cover letter, and a photocopy of the earnest money check.
You should also bid carefully in order to avoid insulting the seller or overpaying. If you bid too low, the seller is fully in their right to refuse a sale and look at a higher bid. You should also avoid bidding too high or you risk paying more than the house is worth. Contingencies are also a problem, if you put too many in a contract then you may scare away the seller.
The average seller is looking for a buyer who committed to a deal, one who will not cancel a contract part ways through a negotiation. They will also be looking to waste as little time as possible, meaning they want to work with a quick and decisive buyer. Negotiate your terms to the best of your abilities and that will strengthen your chances at closing the deal on an apartment, condo, or house.
The closing costs of a contract are necessary to pay off any lender and third-party fees that have accumulated over the course of the transaction. These costs should not go above 2-5% and the process should only last between 30-45 days. The following steps need to be followed in order to ensure a speedy process:
Make the earnest money deposit
Order the title
Inspect the home (personally and professionally)
Walk through the home again.
Once the steps are complete, submit a cashiers check for the down payment and closing costs. You should then close the escrow and sign the needed paperwork in order to finish up and become a Key West Resident.
Key West is a small city, which works to your advantage because everything you could want is always such a short distance away. The attractions here take full advantage of the island based location to provide some of Florida's finest seaside treats. Enjoy yourself near the ocean or at some of the mouthwatering restaurants that bring some of the oceans most savory tastes right to your plate. When you live in Key West, it's like living in a slice of paradise.
Fury Cruise, Snorkel, Jet Ski & Parasail: Enjoy underwater discovery on explorative boats with one of the most popular excursions on the waters of Key West. Try reef snorkeling or parasailing. If you prefer staying out of the water opt for a Sunset Ride on a trip on a Glass Bottom Boat. Locations vary.
Air Adventures: Fly over famous sites such as Mallory Square, Smather’s Beach, and Fort Zachary Taylor on a 20-mile helicopter tour. It’s a 10-minute ride that you can enjoy solo, with friends, or with the family (kids love it!). 3471 S Roosevelt Blvd, Key West, FL 33040.
Conch Tour Train: Take a journey back in time with one of Florida’s main attractions. Learn all about Key West’s roots and beautiful buildings on this train ride throughout the city with a tour guide that explains the historical events that took place at each site. 303 Front St., Key West, FL, 33040
DJ's Clam Shack: Established in 2009 on Duval Street, after two local restaurateurs decided to craft fresh and easily accessible seafood. Combining classic northern and southern seafare, the eatery proudly offers a unique menu. From Maine Lobster Rolls with slaw to decadent conch fritters, it’s no wonder they were featured on Guy Ferrari’s Diners, Drive-Ins, and Dives. 629 Duval St. Key West, FL
Mangia Mangia Pasta Cafe: Dishing up fresh homemade pasta, such as spaghetti with green-lipped New Zealand mussels in a garlicky marinara sauce, Mangia Mangia Pasta Cafe packs in flavor, quality, and a lot of garlic. Located in the center of the Old Town, enjoy pasta, pizza, or salad all while taking in the neighborhood sights. 900 Southard Street, Key West, FL 33040
Better Than Sex Dessert Restaurant: Winners of the 2018 Bubba’s Choice Awards, Better Than Sex Dessert Restaurant offers an innovative twist on classic desserts. For those deciding between a piece of pie or a soft, doughy cookie, now you don’t have to. Two-in-one, the Cookie Nookie Pie consists of a chocolate chip and pecan cookie filling wrapped in a flaky pie crust. It’s open until midnight, making it the perfect place for a late night treat. 926 Simonton Street, Key West, FL 33040
Sloppy Joe's Bar: From musicians to comedians and contests, experience live entertainment every day at Sloppy Joe’s. In Joe’s Tap Room, find beers on draft and a large menu of specialty drinks such as the tequila-based Sloppy Rita. There’s also a full food menu for those needing some “substantial” fuel. 201 Duval Street, Key West, FL 33040
Schooner Wharf Bar: Located at the foot of William Street on the Historic Harbor Walk, Schooner Wharf Bar serves a wide range of drinks to accompany an unforgettable beach view. Try a tropical beverage, like the coconut rum-based Key Lime Colada, or the Mango Madness, topped with a rum floater and filled with juicy mango ice cream. Get comfortable in front of the charming view and prepare to relax away with a cocktail in hand. 202 William Street - Key West, Florida 33040
Green Parrot Bar: Florida Magazine voted this dive-bar as the number one live music venue in the state. With their energetic live musical performances and crowd of regulars, the Green Parrot is the perfect place to go dancing. Take a friend, grab a beer and rock out to some great tunes. 601 Whitehead Street, Key West, FL 33040
Rick's Bar: An entertainment complex that offers food, drink, and a place to dance the night away. This famed locale actually offers different area depending on your preference of nightlife. There is the bar, a lounge area, and even a dance floor to suit anyone's choice of party.
Bottlecaps: For nearly a century this locale has served Key West has served islanders fresh drinks and catered to parties of all sizes. The location stands as a classic place to relax and enjoy some of the best services of Key West nightlife.
Wine-O Bar and Lounge: A great example of Key West nightlife, this location offers drinks and live music so help you enjoy one of the cities finer night-time experiences.
Before deciding on an asking price, make some comparisons by researching neighboring homes online that have recently sold. Take note especially of the ones that are similar to yours. In addition, you may want to visit open houses in Key West to get an idea of what the competition looks like. Inspections help to formulate an appropriate asking price. Ideally, a professional inspector should conduct a home evaluation analysis, although there are now several websites that allow you to perform your own home inspection.
Furthermore, it’s important to assess the styles and trends of Key West homes. Flooring, exteriors, kitchen, and bathrooms may all need revamping if they have not been renovated in some time. When listing special features about your Key West house, consider nearby attractions and landmarks that give this property a higher value. After completing your list, you can then calculate a minimum and maximum price.
In order to sell your home at your preferred price, it is crucial to prepare both the interiors and the exteriors. This may consist of hiring a local inspector, repairing damaged areas, performing landscaping work, as well as staging your furniture. Also, if you own any pets, it’s essential to find someone to watch them during your open house. Fortunately, Key West has many high-rated businesses that can help in all of these areas.
An inspector will be able to give you an appropriate asking price after assessing the current state of your home. At your own discretion, decide what areas need remodeling and what areas can be left alone. Some notable Key West inspectors include:
250 Mars Lane
Key West, FL 33040
900 Kennedy Drive
Key West, FL 33040
29130 Camellia Lane
Big Pine Key, FL 33043
Plumbing issues may lessen your chances of closing the sale, make sure that all pipes and systems are properly functioning before your open house. Repair services in the area include:
609 United Street
Key West, FL 33040
1014 White Street
Key West, FL 33040
6409 2nd Terrace
Key West, FL 33040
If you have a damaged wall or a faulty door handle, consider calling a handyman. Some professionals in the area are:
1554 Eastward Ho Lane
Marathon, FL 33050
PO Box 420174
Summerland Key, FL 33042
PO Box 5122
Key West, FL 33045
For larger projects, such as remodeling an entire room or the roof, take on the services of a home contractor. Some companies in Key West are:
1901 Flagler Avenue
Key West, FL 33040
1209 Truman Avenue, Unit #1
Key West, FL 33040
1503 Washington Street
Key West, FL 33040
517 Duval St #204, Key West, FL 33040
Key West, FL
When you need to set a home up for guests and open houses, decluttering and staging services will help you with making the property more presentable.
Keller Williams Key West Compass Realty, 333 Fleming Street, Key West, FL 33040
3000 Flagler Ave
Key West, FL 33040
After carrying out the above steps, it’s time to market your Key West house. beycome provides a wide range of marketing resources; the site itself carries out real estate transactions between buyers and sellers at a competitive and fair price.
Another more traditional approach involves listing your Key West house in a local newspaper, such as the Key West Citizen or Daily News Outlet. Classic yard signs and flyers are best for locals in the neighborhood. Don’t forget about your own network, spread the word to your friends, family, and coworkers- you never know who may be a potential buyer. Save more by writing your own creative ad for your Key West home. If time’s an issue, hire a skilled copywriter.
St. Petersburg Times
The Miami Herald
South Florida Sun Sentinel
The Tampa Tribun
The Florida Times-Union
The Palm Beach Post
When it comes to real estate, “a picture is worth a thousand words.” By focusing on key qualities and using various angle-shots, a professional photographer can make a home’s interior and exterior look all the more appealing. Pick out your favorite photos and post them on social media sites, such as Facebook, Twitter, and Instagram. Impressive Key West photographers include:
Key West, FL 33040
With the right tools and resources, selling your Key West home can be a quick and smooth process. Take the stress out of planning and marketing by using the resources available on beycome, the site even supplies you with all the necessary legal documents and contracts. List your property to beycome and instantly become connected with buyers and make selling your Key West home a breeze.
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