I hope everyone had a nice Valentines Day last Sunday. The romance lingered here in our area as a number of buyers fell in love with coastal properties and bought them for their sweeties. One went to closing, three others went under contract, and we had six new listings and three new price tags. We end the week with our inventory down just one to 359 active MLS listings in the Cape San Blas, Indian Pass and C-30 market, with 132 houses and 227 lots.
Our solo sale is a short sale on a first floor, 1,290 square foot, 3-bedroom, 2-bath, gulf front condo in a quadplex built in 1983 located about a half mile north of Scallop Cove. The sellers bought it in March 2005 for $315,000 and put it on the market the following spring for $439,000, but it didn’t sell until this week with a final list price of $259,000. It sold for $225,000, pretty close to the county’s assessed value of $231,595.
All three of our new contracts are houses on the Cape, the first of which is this short sale bay-front beauty across the street from the now-defunct Loggerhead Cafe (or Beachcombers for you old timers). This is a lovely, modern home with breath-taking panoramic views of St. Joe Bay and Black’s Island. It’s a 2-bedroom, 2-bath, 1,985 square foot home built in 2004 which last sold in October 2005 for $988,000. The bank has it listed for just $425,000 which I thought was low until I checked the county’s assessment and they have it at $370,403. The home is extremely well built on a tropical paradise setting of a lot and includes an in-ground pool overlooking the bay. I’m anxious to see what ths one goes for.
We’ll travel all the way up to Secluded Dunes just outside the State Park for our second contract, which is on this lovely 4-bedroom, 3 2/2 bath (no typo there – “2/2” for 2 half baths), 3,633 square foot gulf front home with a list price of $875,000, well below the assessed value of $937,957. Though it last sold in October 2002 for $1.2M, it’s not listed as a short sale, and in fact has no contingencies pending so closing is scheduled on or before March 1, just in time for the new owners to enjoy it during spring break.
Last but not least, our third and final new contract takes us just a little further south on the Cape to Peninsula Estates where this 3-bedroom, 2 1/2 bath, 1,056 square foot interior home has finally found a buyer. The seller purchased it in late 2005 and put it back on the market the following spring for $425,000 but was never able to win out over the competition. Lowering the list price to $189,500 did the trick even though that’s still a good bit above its assessed value of $140,490. There are contingencies to be met so no known closing date yet.
I am writing this column today between appointments and need to leave now for my afternoon showing, so until I can get back later on and write up my Picks of the Week from our six new listings and three new price tags I’m going to leave you with the links to peruse until then.
Love having these buyers to work with – if you’re interested in selling, let me know. I’m hearing from a lot of people looking for good properties. My cell number is 850-227-5197 and my email is [email protected] . Here’s to writing another contract this afternoon! Have a great weekend and thanks so much for stopping by.