I've complained before that the Key West Association of Realtors mls database does not automatically show bank owned properties. Some Realtors believe that lender-owners do not want to disclose to the public that a bank owns a piece of property. I guess that is possible, but having worked in the Special Assets division of two banks, I know that we advertised we were selling bank foreclosures. There is a segment of the market that wants to buy bank foreclosures: they think they are going to get a deal. They have watched those late night info-mercials on how to buy real estate in a down market.

I decided to do my best imitation of W.C. Fields as The Bank Dick and went through the mls database and found the properties LISTED HERE that are bank owned. These properties are primarily single family homes in Key West. A couple of the properties are very nice. So there may be a real bargain if you play your cards right.

Most of the bank owners periodically reduce the asking price on properties that do not sell. Some of these properties are getting stale. They have been on the market a long time and nobody wants them. A couple actually look pretty interesting. Checkout the list and if you see a property that you like, please call me, Gary Thomas, 305-766-2642 or e-mail me at kw1101v@aol.com. Let me be your Bank Dick and let's find a deal.

CLICK HERE and be your own detective and search the Key West mls database for active real property listings. Again, if you see something you like, please give me a call.