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Cape San Blas Week In Review - Oct. 10-16, 2009

Published on October 17, 2009 by Sherri Dodsworth under Beach Renourishment, Cape San Blas, FEMA, Foreclosures/Short Sales, Forgotten Coast, Indian Pass, Real Estate

Autumn has arrived and the temperature has finally cooled with a forecast high today in the low 70’s. Very nice indeed. Our market also cooled a bit this week with only two sales and one new contract. Sorry to report, though, our inventory continues its slow creep back upward closing at 416, with 144 homes and 265 lots listed for sale in the MLS in the Cape San Blas, Indian Pass and C-30 Corridor market. We also have six new listings, ten price changes, and three expired unsold.

1st Tier Cape San Blas House Sold October 15, 2009 for $515,000 Our first sale is this Cape San Blas 4-bedroom, 4-bath, 2,176 square foot first tier home with in-ground pool on White Sands Drive about a mile south of the state park. It last sold in early 2002 for $210,000, was listed in September 2005 for $1.15M, and just four years later the county gives it an assessed value of only $391,527. It went under contract as a short sale with a list price of $599,000, and sold on Friday for $515,000.

Gulf Front Lot in Cape San Blas Area Sold Week of Oct. 10-16, 2009 for $212,000 It’s about time this gulf front lot at Curve at the Cape on C-30 near the turn off onto Cape San Blas Road sold. It came on the market in mid 2008 with a list price of $399,900 and after numerous price reductions, finally reached $220,000 this past July which was just the price point it took to elicit an offer, and on Friday it closed for $212,000 with the buyer paying some closing costs. With 59′ of gulf frontage, that’s roughly $3600 per waterfront foot, and like time travelling back nearly a decade. Poor ol’ Kes our county property appraiser missed this one by a country mile, coming in at $356,700.

Pre-Construction Deal on a Cape San Blas Gulf Front Home Under Contract October 12, 2009 Our lone new contract is on a pre-construction package for a lovely 4-bedroom, 3 1/2 bath 2,100 square foot home on a gulf front lot on the Cape with a list price of $699,000. The home will be situated on a 50′ by 350′ lot just a little north of Scallop Cove. There are contingencies to be met so no projected closing date noted.

Cape San Blas Gulf Front Home Foronly $425,000

My New Listing Pick of the Week from our six new listings is really a new re-listing with a new bank-approved short sale price of just $425,000 but the place is a beauty, no doubt about it. This is a modern 2-bedroom, 2-bath, 1,985 square foot lovely bay front home on the south side of Cape San Blas with in-ground pool and elevator. This is a LOT of home for this price and a lot of land, say 2.24 acres, basically right at the county’s assessed value of $420,403, and less than half the $980,000 it sold for in late 2005. Check out the view from the front deck off the living area:

View From Cape San Blas Gulf Front Home

Nothing to write home about in our ten price changes this week so once again not going there.

Despite this week’s lull in activity to report about, my week has been hectic as all get out, with a lot of people looking at and wanting info on listings, owners requesting market reports, offers coming and going across my desk . . . in short, change is in the air. If you are interested in either acquiring or selling now may be the time to talk. Give me a call at 850-227-7891 or shoot me an email to [email protected] and let’s see what we can put together for you.

Thanks so much for stopping by today. If you’re in the area, I hope you’ll stop by and say hello. My office is located at 1252 Cape San Blas Road.

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