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Week In Review - Nov. 10 - 17

Published on November 17, 2007 by Sherri Dodsworth under Business, Cape San Blas, Port St. Joe, Real Estate

fordalesoldblue.jpgOff to a late start this morning – I’ve been doing a system upgrade this week and haven’t been able to access the site since Tuesday (that’s tech talk for “I screwed up something really bad on Tuesday and have been wrestling with it ever since and it took me til this morning to figure out how to unscrew it). But we’re back up and running now, so let’s take our weekly look at what’s been going on with Cape San Blas real estate.

For the first time our inventory remains exactly unchanged from the previous week, holding steady at 552, with 200 homes and 352 lots.

It’s been a pretty quiet week – I think the weather’s been too absolutely gorgeous for anyone to be out looking at real estate. No solds and only one pending, a 2 bedroom, 2 bath townhome at Barrier Dunes. Its been on the market since early January, currently priced at $285,000 which is aggressively low for Barrier Dunes. It’s scheduled to close in about two weeks which sounds as if it’s a cash deal so we’ll just have to wait and see what the final negotiated price was. The sellers bought it back in 2002 so they should be ok.

Only ten price changes, and none of them really eye-popping save for a 24% reduction on a lot on Pluto Way in Surfside Estates, which went from $210,000 to $160,000. Here again the Seller bought it back on 2000 so he should still have room for a nice profit.

Looking ahead, there were 103 residential sales in 2005 with 60% of those closing between March and June. Three-year ARM’s were all the rage then so they’ll be coming due real soon; it could be an interesting Spring shaping up with the likelihood of a number of sellers stepping up to do some serious bargain letting (sounds nicer than “blood letting”).

If you are interested in locating a well-priced investment property or own property you’d like to have an estimate of its current likely market value, shoot me an e-mail to [email protected] or give me a call at 850-227-5197. Thanks for stopping by today.

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