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Cape San Blas Real Estate Week in Review - Jan. 23-29, 2010

Published on January 30, 2010 by Sherri Dodsworth under Cape San Blas, FEMA, Forgotten Coast, Indian Pass, Port St. Joe, Real Estate

It’s the end of January and things slowed down a little bit in our real estate market this week compared to what we’ve been seeing the past couple months, but we still have activity. We managed to close two more sales this week, and write one new contract. Lots of apparent optimism with sellers as we added twleve new listings and thirteen new price tags, bringing our week end total of MLS listing in the Cape San Blas, Indian Pass and C-30 Market to 355, up three from last week.

Both our sales were cottages, one on the Cape, the other on C-30.

Cottage at Cape San Blas Sold Jan. 29, 2010 for $127,000

Let’s start on the Cape, where this 520 square foot, 2-bedroom, 1-bath gulf view cottage nestled behind the Tradin’ Post listed for $147,000 sold for $127,000. This little beach bungalow last sold in 2002 for $135,000 and is currently assessed at $114,427.

First Tier House on C-30 Sold Jan. 29, 2010 for $270,000

Good things truly do come in small packages as our second sale over on C-30 proves. This 900 square foot, 2-bedroom, 2 bath first tier beach cottage with awesome views of the gulf attracted some happy new owners this week with a fetching price tag of just $299,000. They offered $270,000 and off to closing they went.

Cottages at Indian Summer Under Contract Jan. 25, 2010

Our one new contract is on a first tier lot at the Cottages at Indian Summer over on C-30 towards Indian Pass. This quarter acre lot measures 50′ by 200′, and goes under contract with a list price of just $100,000, below the county’s assessed value of $126,000, and off just a smidgen from its original list of $550,000 back in mid-2005.

There may have been twelve new listings but I don’t see anything among them worthy of Pick of the Week status. Not so with our thirteen new price tags however, where I have not just one but two Price Change Picks of the Week, both lots.

Gulf Front Lot Now Just $309,000 First up is this gorgeous gulf front lot over in Money Bayou in the Sweetwater Shores subdivision which this week goes from $399,000 to just $309,00. This lot measures roughly 60′ by 480′ , or a little over half an acre. Add to that the availablity of FEMA flood insurance when you build and there’s a lot to like about this parcel. It last sold in 1999 for $120,000, and the county currently has it valued at an even $300,000.

Bay View Lot w/Dock Now Only $99,000 My second pick is a first tier bay view lot on Cape San Blas just a couple hundred feet south of Scallop Cove which includes shared use of a very well built dock. This lot goes from $125,000 to just $99,000, well below the assessed value of $124,900. I’ve walked this property a number of times and it is high and dry, good elevation, X flood zone and awesome views. There is deeded bay access. Someone is going to have a lovely homesite with this parcel.

Well, that’s a wrap for this week. I’m starting to list properties in gearing up for spring visitors, so if you’re considering selling please give me a call. My number is 850-227-5197 or you can always reach me by email at [email protected]. And if you’re interested in learning more about properties we’ve looked at here today, let me know. I hope wherever you are you have a pleasant, warm and dry weekend. Thanks so much for stopping by today.

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