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Cape San Blas Real Estate Week in Review - July 24-30, 2010

Published on July 31, 2010 by Sherri Dodsworth under Cape San Blas, FEMA, Foreclosures/Short Sales, Forgotten Coast, Indian Pass, Port St. Joe, Real Estate

The big news this week is that we’re all feeling as if we may actually be out of the woods as far as the threat from the oil spill is concerned. The armies of BP clean up crews have disappeared and things are returning to normal. Shoppers looking for great real estate values haven’t disappeared, though, and we had another good week, with three sales and two new contracts. Seven owners put their properties on the market, while nine others lowered their prices. Our inventory remains virtually unchanged, down just one to 414, with 164 homes and 250 lots listed for sale in the MLS in the Cape San Blas, Indian Pass and C-30 Corridor market. Let’s take a look at what caught buyers’ attention.

Treasure Bay First Tier Home Sold For $250,000

First up is a 3-bedroom, 2-bath, 1,456 square foot first tier home in Treasure Shores listed as a short sale for $250,000, pretty close to the countys’ assessed value of $263,904. The bank approved that price and it sold for the full $250,000, which makes it an interesting comp as that sale price is below the $275,000 the home sold for in mid 2001.

Park Side Lot at Sunset Pointe Sold July 26, 2010 for $55,000

Our second sale was a nicely wooded lot adjacent to the state park in Sunset Pointe at the north end of Cape San Blas. This quarter-acre lot is located in the coveted “X” zone. It was listed for $119,000, but sold for $55,000 which is in line with recent sales in this vicinity, and with the county’s assessment of $50,000. The property last sold in 2005 for $437,000.

Bank Owned House at Indian Summer Under Contract June 24, 2010

Our third and final sale was this bank-owned 3-bedroom, 2-bath, 1,583 square foot first tier home in Indian Summer over at Indian Pass Listed for $225,000. The owner had been trying to sell it since Dcember 2005 when he listed if for $725,000 but was never able to attract a buyer despite numerous price reductions, and eventually it went back to the bank. They finally sold it on Friday for $215,000, which is almost right on the money for the county’s assessment of $210,856.

Indian Pass Gulf Front Lot Under Contract July 30, 2010

Now on to our two new contracts, the first of which is on a gulf front half-acre lot also on Indian Pass and listed for $289,900, well below its assessed value of $350,000. It’s 50′ wide, and the owners have been trying to sell it since March 2008 when they put it on the market for $500,000. There are contingencies to be met so no note as to when the projected closing date is.

Lagoon Front Lot Under Contract With List Price of $79,000

Shoppers were apparently in the mood for Indian Pass waterfront properties this week as our second new contract is on this gorgeous lagoon front lot up at Mystic Palms, not far from the boat launch. Isn’t that a beautiful setting? This is a bank-owned lot listed for just $79,000 which is well below the county’s assesssed value of $110,000, and way below the $450,000 it last sold for in April 2004. Those buyers started tying to sell it as early as August 2005 when they put it back on the market for $625,000 but obviously that never worked out for them.

Cape San Blas Luxury Gulf Front Home Offered for $1.8M

I’ve selected a magnificent gulf front luxury home from our seven new listings for our New Listing Pick of the Week just for it’s sheer beauty. This is a sprawling 2,889 square foot retreat hidden away on a 1+ acre, 109′ wide gulf front property in Secluded Dunes, just a couple of hundred feet south of the state park. The home is surrounded by porches and decks for a total square fotage of 9,735 square feet, with one of those decks feauring a lovely swimming pool overlooking the gulf.

Gulf Front Pool

I don’t know about you, but I could get used to that view.

The views from the living area and bedrooms are also spectacular.

Gulf View From the Living Area

Luxury Kitchen

The kitchen features Viking appliances and rich, custom cabinetry. The seller is offering this exquisite home for $1.8M.

Beautiful Gulf Front Cape San Blas Home Now Just $799,000

Maybe I’m wishing I was at the beach this afternoon as gulf front homes are talking to me. I saw a couple candidates for Price Change Pick of the Week among our nine new price tags, but I’m going with this gulf front lovely located on the Cape just a lttle bit north of Scallop Cove. It’s a 4-bedroom, 3 1/2-bath, 2,690 square foot home on a 50′ wide lot, and it last sold in November 2004 for $1.178M. It’s now being offered as a short sale, and this week the asking price went from $875,000 down to $799,000. It has been on and off the market since June 2005 when it debuted with a $1.985M price tag.

That’s a wrap for this week. If you’re interested in finding out about any of these properties or if you’d like to talk about selling yours, give me a call and let’s talk. My cell number is 850-227-5197 or you can shoot me an email to [email protected]. I’ll be glad to help you out either way. Right now, that beautiful beach is calling me to enjoy that crystal clear water. Have a great weekend, and thanks for taking time to stop by today

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