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18 Hilton Haven Rd
Key West, FL 33040
$5,750,000
Conventional
Property
Bedroom
4
Bathroom
6
Property Type
Conventional
Square ft
3597
Property Description
Presenting a rare opportunity to acquire a distinguished waterfront single-family home in Key West. This spectacular residence is a true gem facing both the South and the North. On the south side, this opportunity boasts of sweeping decks, a waterfront pool and 15,000 lb. boat lift and convenient dock while overlooking the Key West Yacht Club and the world famous Garrison Bight. On the north side, enjoy unencumbered views from the serene covered entry porch of the Gulf of Mexico with a deeded 75' by 300' bay bottom parcel. Upon entering through the handsome oversized wooden doors, you are greeted by the living room's custom hand built beamed wood cathedral ceiling, gas fireplace, and a majestic staircase. The current sunroom, convertible into a dining room, features French doors that open up to breathtaking southern views of the pool and the harbor. The expansive deck, adorned with Azek decking and custom-made Azek and stainless railings, leads down to the lower entertaining level. The chef's kitchen is designed for entertaining, equipped with ample counter space, Viking appliances, and a Fisher Paykel cooktop. The first-floor sophisticated primary suite opens to the rear private deck and dock. Completing the first floor are the laundry room, a half-bath, a full bath, and a charming guest bedroom. The one-car garage, adjacent to the sunroom with wet bar and bathroom, provides access to a second staircase leading to the second-floor office with custom wood paneling and cabinetry with an additional full bath which enjoys views of both the Florida Bay and the Garrison Bight. The second floor provides a bonus game room and also hosts two additional bedrooms connected by a beautiful bathroom. Throughout this meticulously renovated residence, the present owner has incorporated vaulted ceilings on all levels, custom woodwork, and built-ins, creating a truly spectacular living space. Don't miss this extraordinary waterfront masterpiece in Key West!
Property Information
Lot Size
-- square ft
Property Type
Residential
Year Built
1967
MLS Number
608513
Location
Address
18 Hilton Haven Rd
City
Key West
State
FL
Zip Code
33040
County
MONROE
Listing
Provider
Keller Williams - Key West-Lower Keys, original listing
Name
Keller Williams - Key West-Lower Keys
Phone
(305) 292-0020
Office Name
Keller Williams - Key West-Lower Keys
Office Phone
(305) 292-0020
Agent Name
Megan Behmke

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HUD foreclosures and VA Foreclosures are some of the best homes to buy when price is part of the equation. As with most Americans, price is always a concern. If not buying the same house for less, why not buy more house for the same dollar invested? When looking for a good deal it is hard to do better than the VA or HUD foreclosures market. The simple truth is that there are just more VA and HUD homes on the market, as they represent such a large number of mortgages that are generated each year. This translates into more foreclosures just by the magnitude of difference between all others comparing to the two largest. The two largest also being government owned and operated means that they have less time to wait to make money back on the home. The FHA is especially known for selling HUD homes for less than the average sales price in a given area. FHA foreclosures represent a fraction of HUD but they are still a significant number of homes and both should be considered. VA (Veterans Administration) and HUD (Housing and Urban Development) have different and unique opportunities for the buyer. Both are often forgiven for the local taxes normally associated with the purchase of a home (this is on a county by county basis). Be sure to ask the local title company or escrow company to look into it for you before closing as this is often missed due to their are not used to dealing with the 2 to 3 percent of the market that VA and HUD foreclosures represent.

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Foreclosure Listings Increasing

As the market settled after the mortgage meltdown foreclosure listings also settled and fewer homes were on the market with a placard reading “Bank Foreclosure” in big red lettering. This was a good thing for the entire real estate market. Having an abundance of foreclosures brings the entire market down and it makes it harder for home owners, who would like to move, to get the appropriate price for their home as a similar home down the same street was sold for substantially less and the appraiser is using the foreclosure as a comparable sale. This is just one of the problems when there are too many foreclosure listings in any area. Another issue is the television set that sits in everyone’s living room harping about the price of homes based on the number of foreclosures and this constant barrage of negative information makes most people sit on the sidelines waiting for the market to either implode completely or to correct itself. Meanwhile while they wait, others are buying foreclosure listings and making great investments. Whatever the reason, a market can only handle so many foreclosure listings at any given time. The more foreclosures, the lower the market gets and this is a lesson the banks that were foreclosing and selling off realized too late. The market and their investments would have been better off if there had not been a rush to divest themselves of the toxic assets made more toxic by their own actions.