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Cape San Blas Real Estate Week in Review - Nov. 29 - Dec. 5, 2008

Published on December 6, 2008 by Sherri Dodsworth under Beach Renourishment, Cape San Blas, Foreclosures/Short Sales, Forgotten Coast, Indian Pass, Port St. Joe, Real Estate

Can it really be December already? Doesn’t seem possible but it’s most definitely the first weekend of December because two of the biggest rivals in college football are on for this afternoon: the 109th meeting of Army-Navy kicks off at noon and Florida and Alabama rumble at 4. I don’t have a dog in that fight, but as a Navy vet I DO hope the mid-shipmen make it seven wins in a row against Army. So let’s take care of business so we can get on with the games.

We whittled away nicely at our inventory ths week with nearly a 3% reduction, coming in with a total of 379 active MLS listings in the Cape San Blas, Indian Pass and C-30 Corridor market, with 6 fewer homes this week than last, 155 vs. 161, and 5 fewer lots, 224 vs. 229.

No closings, but we do have two new contracts, four new listings, nine price changes and sixteen expired unsold. Both of our contracts are on homes, and both in the Money Bayou area.

Our first new contract is on this lovely 2-bedroom, 2 1/2/ bath 739 square foot Key West-style home over in Money Bayou we saw deeply discounted several months ago. This home had a contract back in mid-July which fell through. The seller gave $630,000 for it in mid-2005, listed it back in March of this year for $399,900, but dropped it not long thereafter to the unbelievable price of $299,000. There are contingencies to be met so no way of knowing yet when it might close, but this will be an interesting one to watch. I hate to see this happen to anyone.

Our second Money Bayou contract is on a home which came on the market back in January, originally asking $375,000, but subsequently lowered to $299,900. The sellers bought it back in early 2002 for $237,000 so they should have plenty of room for a potential profit. It’s scheduled to close by the 17th.

Only one home among the four new listings and it’s my pick of the week. This is a 3-bedroom, 3 1/2 bath, 1,692 square foot townhome at Seacliffs on Cape San Blas, with beautiful views from throughout, and a beautiful price tag to match, only $365,000. Check out the views from its decks.

This townhome is in great condition and definitely priced to sell. It has been used as a second home, and not rented. Other features include easy access to the boardwalk, unobstructed views from all floors, enclosed garage, elevator, tile floors, carpet and vinyl, fully furnished and just ready for you to move in.

I’m going with a lot for my pick of the week from our nine price changes. It’s a canal front lot on Indian Pass just past the bridge reduced from $219,000 to $199,000. The MLS notes tell why I like this particular property at this price:

Old Florida at its finest (with FEMA!) – come see this beautiful canal front 1/2 acre lot which overlooks Indian Lagoon, has deeded Gulf access as well as a Gulf front pool and clubhouse in the quiet and secluded Indian Summer subdivision. Protective covenants and restrictions, low annual dues of $1000, LARGE 90 ft wide by ~300 ft deep lot – very nice value in an ideal natural setting. This lot would be either an outstanding investment property, or the perfect peaceful setting for your new beach house – very short walk to the community boardwalk to the beach (around the Gulf front pool), while still being able to enjoy the endless marsh and lagoon views from the back of the property. PLENTY of buildbale area on this lot which qualifies for the inexpensive federal flood insurance. Must see this setting and subdivision to appreciate.

BEST DEAL IN INDIAN SUMMER!! Recent survey by Edwin Brown shows the majority of this property lies out of the CBRA area, which would qualify for federal flood insurance. PLENTY of room for a large house with federal flood insurance available. Outstanding views of the marsh, canal and lagoon. A future house would even provide views of the Gulf, which is only a short walk down the private oyster shell road to the community boardwalk to the beach (and Gulf front pool and clubhouse). Very nice opportunity – come check it out.

That about does it for this week. There’s still time to wrap a nice property up in time to surprise someone this Christmas with a little piece of paradise along the Forgotten Coast. If you’d like more info on these or other opportuniies give me a call toll free at 877-512-9366, ext. 109 or shoot me an email to [email protected] . Have a great week, and don’t forget . . .


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