(My 5-year-old+ laptop finally called it quits and I’ve been switching over to a new computer system since Friday – most of my programs and files are now playing together nicely but still have a few glitches to work out. The MLS doesn’t want to give me the links I usually include which is what I’ve been wrestling with and why this update is appearing on Sunday rather than in its usual Saturday time slot. In the interest of putting this post to bed I’m giving up on the links for now and will try to have things ironed out by next Saturday.)
Not much going on this week and the continuing growth in the inventory reflects that, increasing by eight with 424 MLS listings in the Cape San Blas, Indian Pass and C-30 Corridor market, 153 houses and 271 lots. Nobody went to closing, but we manaaged three new contracts, nine new listings and twelve price changes.
Our first contract is on this serious fixer upper on the Cape at Cape Sands Landing. It’s one side of a duplex and needs to be completely renovated inside and out to be habitable. The place went under contract almost immediately when it enterd the MLS this week sporting a list price of only $75,000. One contractor estimates it will take about $110,000 to bring it back. There are contingencies so no closing date noted.
Our second contract is also on the Cape, yet another lot at Piney Woods Beach located on the south side of the Cape. There have been a number of sales in this nice gulf front subdivision this year. This is a bank-owned property foreclosed on in December 2007. When it was last listed in 2006 it sported a $425,000 price tag, but when the bank put it on the market last year they started at $229,000. The county has it assessed for $100,800 and the bank dropped it below that last month to $95,000 and now they have a contract. Interesting that both of our contracts on the Cape this week were listed below $100,000. It’s been quite a few years since I’ve seen that.
We’re heading over along the C-30 Corridor to Gulf Pines for our third and final new contract, which is on a first tier lot listed for $219,000. It’s a good size lot, a little over half an acre, measuring 100′ by 257′ and has fantastic gulf views. It last sold in October 2003 for $300K and went back on the market in early ’07 for $375,000. The county thinks it’s worth $157,500, and it’s under contract with a list price of $219,000, scheduled to close on the 26th, which sounds like somebody just whipped out their checkbook and stroked a check. I’m curious to see just how loudly cash in hand spoke on this one.
No trouble selecting a Pick of the Week from our nine new listings. I love cottage style so this cottage at Barrier Dunes is talking to me, especially at $309,000. Here’s the MLS description:
Charming 3BR/3BA cottage in exclusive Barrier Dunes, a beachside gated community on Cape San Blas. Located on the pond, this home has tile flooring in the living, dining and kitchen area, tropical decor, fireplace, flat screen television, new appliances and separate laundry. There is also a bedroom on this level that has its own entrance onto the spacious deck overlooking the pond. There is also a full bath on this level. On the second level is the master bedroom with a private bath and french doors leading onto the screened deck overlooking the pond. The master is large and has a king bed, two chest of drawers, nightstands and private full bath. The second bedroom also has french doors leading out onto the screen deck. The spacious deck that surrounds 3/4 of the house provides lots of privacy. This is truly a must see!
My Price Change Pick of the Week is a no-brainer, too – how can you go wrong with this gorgeous Cape San Blas first tier lot at prestigious Ovation slashed from $552,000 down to $249,000? That’s below the assessed value of $252,000, and this is a lot which last sold in August 2005 for $775,000. Oh, and it’s X zone, too.
That does it for this week. Hopefully we’ll be back on track next week and I’ll get this out on time and with more contracts and some sales to tell you about. If you’re interested in finding out more about these or other properties please email me at [email protected] or call me at 850-227-5197. Have a great week and thanks so much for checking back today.