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Cape San Blas Real Estate Week in Review - Dec. 12-18, 2009

Published on December 19, 2009 by Sherri Dodsworth under Cape San Blas

We’re officially in the Christmas break mode apparently as things were noticeably quieter around here this week. There were no new contracts though I have several offers in negotiations, but we still managed two sales, one new listing and ten price changes. Happily our inventory dipped again, down three, closing at 377, with 134 houses and 243 lots listed for sale in the MLS in the Cape San Blas, Indian Pass, and C-30 Corridor market.

Cape San Blas First Tier Home Sold Dec. 18, 2009 for $540,000

The first of our two sales is this bank-owned 4-bedroom, 5-bath, 2,878 square foot first tier home on White Sands Drive in San Blas Shores, adjacent to the north side of Ovation on Cape San Blas. This is a lovely home which was originally gulf front, but when erosion got to be too serious a problem, the owners decided to relocate it across the street to a first tier lot. Sadly, due to circumstances beyond the owners’ control, the property was eventually relinquished to the bank who put it on the market in October for $674,900. Shortly thereafter they dropped the price to $599,500 which was all it took to attract a buyer and on Friday it sold for $540,000. The county thinks that’s a bit high, having it assessed at $469,777.

Odd Shaped Cape San Blas Lot Sold for $56,000 on Dec. 11, 2009

Our second sale is an oddly shaped lot on the Cape which looks more like a gerrymandered voting district than a residential lot. Very odd. This lot only came on the market on November 16 when it debuted with a $62,500 price tag which attracted a buyer almost immediately. And why not? The county has it assessed at $157,000 and it last sold in the summer of 2005 for, get this, $475,900. On Tuesday some savvy buyer wrapped it up for only $56,000. Nicely done.

Since we only have one new listing, no Pick of the Week this week.

I hope you have a wonderful week of celebration with family and friends. My husband and I are staying here at the Cape for Christmas so if you’re in the area over the holidays I hope you’ll stop by and say hello. My office is at 1252 Cape San Blas Road and my number is 850-227-5197. Merry Christmas, and let’s meet here again next Saturday.

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