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Cape San Blas Real Estate Market Week in Review - Week of July 25-31, 2009

Published on August 1, 2009 by Sherri Dodsworth under Cape San Blas, Foreclosures/Short Sales, Forgotten Coast, Indian Pass, Insurance, Port St. Joe, Real Estate

After a string of weeks with better-than-average activity, things finally came to a halt this week and we had the slowest week in real estate we’ve seen in some time. No closings, only one new contract, a measly two new listings, but an impressive fifteen price changes. Our inventory took a nice dip, down seven from last week falling below 400 again to 398, but I suspect that’s a result of listings expiring on the last day of the month, many of which will likely renew sending us back up over 400+ by next week. But as of today our MLS has 155 homes and 243 lots listed for sale between Cape San Blas, Indian Pass and the C-30 Corridor. With only nine sales in the month of July, thats over a 3 1/2 year inventory we’re looking at. Definitely better than it’s been but still not good.

Gulf Front Home at Secluded Dunes Under Contract July 29, 2009

Our one new contract is on a 3-bedroom, 3 1/2 bath, 2700 square foot gulf front home at Secluded Dunes. This home was foreclosed on some time ago and has been on the market since November 2006 when it was originally listed for $1.048M. In mid-June the list price finally reached $699,000 and that was the price point that attracted an offer. There are contingencies to be met so no known projected closing date.

Neither of our two new listings merit the honor of New Listing Pick of the Week so we’ll look for the “wow” factor among our fifteen price changes where I’m going to go with a bay front commercial lot reduced to an attractive $250,000.

Cape San Blas Bay Front Commercial Lot Now Only $250,000

This is right near the turn off onto Cape San Blas Road and measures 100′ wide by roughly 300′ deep, for a total of about 0.69 acres. It has a dock permit good through 2010, electricity on site, and a shallow well for irrigation. The views from the property are awesome, and it is studded with beautiful Florida palm trees, so this would be a postcard setting for a small roadside cafe or open-air eatery or watering hole of some sort. This aerial shows it’s a good dry lot:

Aerial View of Commercial Bay Front Lot at Cape San Blas

Time to go show property so I’m out of here for now. Working hard to generate contracts so we’ll have more to talk about next Saturday. Let me know if you’re interested in buying or selling – my cell phone is 850-227-5197 or shoot me an email to [email protected]. And if you’re in the area, stop by and say ‘hello’. My Boardwalk Realty office is at 1252 Cape San Blas Road, about a mile from the turn off onto the Cape. Have a great weekend, and thanks for stopping by today.

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