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Cape San Blas Real Estate Week in Review - Dec. 4-10, 2010

Published on December 11, 2010 by Sherri Dodsworth under Barrier Dunes, Cape San Blas, FEMA, Foreclosures/Short Sales, Forgotten Coast, Indian Pass, Real Estate

If this week’s activity is any indicator, Santa has plans for a number of good boys and girls to find a place at the beach on their Christmas gift list this season. In a traditionally slow real estate month, we managed one sale and three new contracts, four new listings and five price changes. The inventory remains unchanged, closing once again at 342, with 133 houses and 209 lots for sale in the Cape San Blas, Indian Pass and C-30 Corridor market.

Interior Home at Barrier Dunes Sold December 2010 for $350,000

Our solo sale is this handsome 4-bedroom, 3 1/2 bath, 2,400 square foot home up in Barrier Dunes listed for a very attractive $359,900, almost exactly to the dollar the county’s assessed value of $354,835. Built in 2006 as a spec home, it never sold and eventually went to the bank. The current sellers snapped it up from the bank back in July for a mere $116,000 and have now sold it just six months later for $350,000, pocketing a really sweet profit of $234,000. Great work if you can get it.

Bay Front House at Treasure Bay Under Contract Dec. 4, 2010

The first of our three new contracts is this lovely 3-bedroom, 4-bath, 2,830 square foot bay front home in Treasure Bay over on the C-30 Corridor. It has 100′ of waterfront overlooking the southern end of the bay. The sellers currently have it listed for exactly what they paid for it in 2000, $395,000. That’s a good bit above the county’s assessed value of $312,339. This home has been on the market since late 2004 when they originally listed it for $889,500. Beach Cottage at Indian Pass Under Contract Dec. 8, 2010

I absolutely love cottage style and southern history, so this next home works for me on both levels. Located over on the Pass in Indian Pass Beach Subdivision, it’s a 3-bedroom, 2-bath, 1900 square foot Cracker-style home which was relocated onto this site sometime after 1998 when the sellers bought the unimproved lot for just $30,000. The home has only been on the market a few weeks and is listed for a modest $249,900. The kitchen captures the flair of the home.

Cracker Style Kitchen

Gulf View Cape San Blas Duplex Under Contract Dec. 10, 2010 Our third and final new contract takes us over to the Cape where one side of this gulf-view, 2-bedroom, 2-bath, 1,565 square-foot duplex on Aruba Drive at Cape Sands Landing went under contract with a list price of just $165,000. It’s not listed as a short sale even though the sellers paid $310,000 for it in early 2005. That list is well below the county’s assessed value of $225,583. I’ve shown this place a number of times and with some sprucing up and new furniture it has the potential to be a terrific rental property. It has surprisingly good gulf views from its screened in porch off the living area.

Bay Front Lot on St. Joe Bay Only $165,000

Only four new listings this week but I like one enough for it to qualify for the coveted title of New Listing Pick of the Week. Check out this 1-acre, 103′ wide bay front lot over in Treasure Bay just a few lots away from the home we looked at earlier. The seller bought it in mid-2004 for $275,000 but has decided to let it go for just $165,0000 which is about where the county has it, their assessed value being $140,000. This is on the mainland there are no problems with federal flood insurance. Since the view of the bay is towards the west, you’d be enjoying views like this each evening as the sun sets over St. Joe Bay.

Enjoy Beautiful Sunsets Over St. Joe Bay

Nothing earth-shattering among our five price changes so no pick this week in that category. There’s still time to wrap a nice property up in time to surprise someone this Christmas with a little piece of paradise along the Forgotten Coast. If you’d like more info on these or other opportunities give me a call on my cell, 850-227-5197, or shoot me an email to [email protected] . Have a great week, and don’t forget . . .


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