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Cape San Blas Real Estate Week in Review - Dec. 20-26, 2008

Published on December 27, 2008 by Sherri Dodsworth under Beach Renourishment, Cape San Blas, Foreclosures/Short Sales, Forgotten Coast, Indian Pass, Port St. Joe, Real Estate

The calendar said Christmas but the weather said summer. What a beautiful warm, sunny week it has been. I hope you had a good holiday with family and friends. Santa brought us one closing and two contracts, three new listings , three new price tags and eleven expired unsold. Our inventory took a nice healthy dip, too, down 11 fromt last week to 367 active listings in the Cape San Blas, Indian Pass, and C-30 Corridor market, with 150 homes (vs. 154) and 217 lots (vs. 224).

Our sale was the 2-bedroom, 2-bath, gulf view Barrier Dunes townhouse we looked at last week when it went under contract with a list price of $299,000. According to the tax records, the seller paid $425,000 for it in March 2005 and put it on the market in February 2007 starting with a list price of $435,000. He has lowered it incrementally since then and finally closed on Christmas Eve for $277,500.

Shoppers wanted gulf front this week, as our two new contracts are on a gulf front home in Treasure Shores (C-30 Corridor) and a gulf front lot on the Cape. This gulf front single family home was recently one of my picks of the week when it was reduced from an already low $795,000 to bargain priced $749,000. Check out the view from the decks:

Like living in a Florida postcard. Here’s the listing notes details:

Lovely home with a great layout for lots of company. Each bedroom has a private bathroom, and all rooms face the beach. On the first level the kitchen, dining and living space enjoy ample beach front views; this area extends to the front deck with equally breathtaking views and roomy space for gatherings. On the west side of this floor is a king size bedroom with bath. On the top level are two bedrooms, a den-sitting area, and the master bedroom. All three rooms open to a large screened porch. Storm shutters, tile roof, great rental with a loyal follow up, and mostly in excellent condition with new carpet installed in 2007.

With a gross rental income of $31,185 the numbers work well. This 3-bedroom, 3-bath 1,886 square foot home was built in 1997 and sits on a 75′ wide, roughly half acre gulf front lot. There are contingencies to be met so no indication as to when it may close.

The gulf front lot on the Cape which went under contract is also one of our new listings, so new, in fact, that photos of it have not yet been posted to the MLS. It is a 116′ wide property two lots north of the Sunrise Sunset townhouses which are about halfway between Stumphole and Scallop Cove. Priced aggressively to sell with a list price of $399,000, it’ll be interesting to see what it finally closes for. It, too, has contingencies to be met so no note as to when it is scheduled to close. List price is $3,439 per waterfront foot, which is about where we were back in 1995 when I first started selling real estate on the Cape.

Only three new listings, one of which is the lot above already under contract and the other two really don’t excite me so no pick of the week for new listings today.

Among our three price changes, my clear winner for pick of the week is easily this bay front home on the Cape which was reduced from $989,000 to a very attractive $899,000. This 4-bedroom, 3 bath, 3,376 square foot beauty is a treasure trove of bells and whistles.

Check out the view from the deck:

Here’s the description from the MLS:

Beautiful bay front home with private boat dock including two boat lifts and a private inground screen-enclosed swimming pool.

The spacious open floor plan features a large, entertainer kitchen and large living room and dining room. There is a full apartment on the lower level with full kitchen, living room, bedroom and bath and private entrance and walkout to pool area. The sunrise view from the porch was recently featured in Atlantic Southeast Airlines travel magazine. The privacy, decks, porches and views galore make this a truly special home.

If an in-ground pool isn’t enough, enjoy a dip in the hot tub instead.

And here’s your view from the living room (complete with fireplace).

This peaceful private setting would truly be like being on vacation everyday of your life.

Call me at 850-227-5197 if you’d like additional info on these or other area properties, or shoot me an email to [email protected] . Be sure to check out my year in review on Thursday where we’ll look back and see how 2008 stacked up. Have a safe New Year’s Eve and don’t forget to make those resolutions!

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