Skip to content

Cape San Blas Real Estate Week in Review - Oct. 30-Nov. 5, 2010

Published on November 6, 2010 by Sherri Dodsworth under Cape San Blas, FEMA, Foreclosures/Short Sales, Forgotten Coast, Indian Pass, Port St. Joe, Real Estate

For Sale and Sold SignIt has been a busy week with election coverage dominating the news, but a number of people still elected to claim a piece of the coast for themselves as we had another strong showing with three sales and one new contract. Only five new listings and four price changes were registered. As a result, very little movement in our inventory, which nudged up just a smidgen by four to close the week at 351, with 133 homes and 218 lots in the MLS for the Cape San Blas, Indian Pass and C-30 Corridor market. Let’s see what caught buyers’ eyes this week.

Cape San Blas Interior Home Sold October 2010 for $190,000

I get a fair number of requests for fixer-uppers of which there are relatively few, but the first of our three sales certainly falls into that category as she’s a diamond in the rough for sure. This was a short sale in Peninsula Estates, less than a mile south of the state park. Built in 1990, this 5-bedroom, 3-bath,, 1,368 square foot home with a quirky layout has been subjected to some interesting home improvement projects over the years. The sellers listed it this past March for $285,000 but quickly reduced that price to a more realistic $185,000, and the bank finally signed off on an offfer of $190,000.

Interior Ovation Lot Sold October 2010 for $50,000

Our second sale takes us to the sudivision just next door to Peninsula Estates, Ovation, where this developer-owned bay side lot sold for full list price of $50,000, which is also precisely what the county has it assessed for. These lots are small, but situated in a great community big on ammenities such as a bay front club with infinity pool, fitness center, boardwalks out onto the bay, tennis courts and gulf side pool. The 40+ acre project spans from gulf to bay so there’s not a lot without a waterview. There are still a good number of like-priced properties in the coveted “X” zone so if you’re interested, let me know.

Cape San Blas Bay Front Cottage Sold November 5, 2010 for $150,000

Our third and final sale is our steal of the week. On Friday a lucky buyer picked up the keys to this 2-bedroom bay front cottage at Scallop Cove for a mere $150,000 cash. Sweet. It’s one of six cotttages on 2oo feet of waterfront which includes shared dock on the bay and deeded beach access directly across the street. Originally built in the mid-80’s, the cottages were totally refurbished in 2003 and outfitted with new metal roofs, tile floors, granite countertops, new front decks, and all new appliances and furnishings. After the renovations were completed, the owner sold this one for $160,000. That owner sold it three years later for $200,000, and that buyer put it back on the market in early 2009 for $249,000 with no takers til it reached its final list price of $199,000 which elicited the $150,000 cash, no contingencies, close-in-one-week offer to which the seller said “it’s a deal”. That sale price is not too far above the county’s current assessed value of $119,755.

Cape San Blas Gulf View Home Under Contract Nov. 1, 2010 Our solo new contract is on one of my favorite homes currently in the mix, a gulf view 3-bedroom, 3-bath, 1,728 square foot home on Acklins Drive, the road which leads down behind the Tradin’ Post. There are terrific gulf views from throughout this nicely furished home. The large porch off the living area has plenty of room for outdoor dining and entertaining. It’s a short sale listed at $349,000 having last sold in February 2009 for $749,900, which was a discount over the $895,000 it previously sold for June of 2005. The county has this one pegged at $276,542.

There may be only five new listings but one stands out clearly as an obvious choice for my New Listing Pick of the Week, and you don’t want to miss this one.

Cape San Blas Gulf Front Home for Only $499,000

When was the last time you saw a Cape San Blas gulf front home this nice for just $499,000? Quick answer – it’s been a long time. Situated on 50′ of waterfront, this 3-bedroom, 3-bath, 1,395 square foot home built in 2000 is a short sale at this price, having last sold in late 2004 for $1.1M. Take a look at the pleasing open layout.

Beautiful living area

And here is the view of the beach from the home.

Great gulf views from the decks

I imagine this one will be sparking a lot of interest at this point so if you’re in the market for a gulf-front deal get in touch with me pretty quick.

I didn’t see anything eye-popping among our four price changes so I’ll not go with a Pick of the Week in that category today. So that means we’re officilally wrapped up for the week then. I’m off now to Apalachicola for the afternoon to enjoy the Florida Seafood Festival which as always should be a lot of fun, especially as nice as the weather is today; cool, clear and breezy, with an afternoon high of around 60 forecast. Planning on enjoying some great seafood and good times with old friends. If you’re in the area, hope to see you there. If you’re interested in info on joining us here on the coast as either a full-time or part-time “Caper”, give me a call on my cell at 850-227-5197 or shoot me an email to [email protected] . Looking forward to hearing from you. Have a great week and thanks so much for taking time to stop by this afternoon.

Be the first to comment

Thanks for leaving a comment. If you are new to leaving comments on my site, it will have to be approved before being posted.