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Cape San Blas Real Estate Week in Review - Feb. 12-18, 2011

Published on February 19, 2011 by Sherri Dodsworth under Barrier Dunes, Beach Renourishment, Cape San Blas, FEMA, Foreclosures/Short Sales, Forgotten Coast, Indian Pass, Port St. Joe, Real Estate

It was a good week even if a little quieter than last week with one closing and three new contracts, ten new listings, and four price changes. Our inventory inched back up a bit, ending the week up by four at 351, with 138 homes and 213 lots for sale in the Cape San Blas, Indian Pass and C-30 Corridor markets.

Cape San Blas 1st Tier Pre-Constructon Pkg. Sold Feb. 14, 2011 for $315,000

Our solo sale was on a pre-construction package at San Dunes located about a half mile south of Cape Palms Park. The contract was for a 4-bedroom, 3 1/2 bath, 2,000 square foot home on a first tier lot in one of the nicest sudivisions on the Cape. It was listed in the MLS for $319,000 for the lot and house, and on Valentines Day someone treated their sweetie to the promise of a beach home for just$315,000.

Cape San Blas Gulf Front Bank-Owned Home Under Contract Feb. 15, 2011

The first of our three new contracts is on a bank-owned gulf-front, 4-bedroom, 3 1/2 bath, 2,690 square foot home located about a half-mile north of Scallop Cove. This is a lovely home, a bit formal for the beach for my liking, but very spacious with quality attention to detail in construction throughout. The owners who bought it in late 2004 for $1.178M tried to turn it seven months later when they put it on the market in June ’05 with a $1.985M asking price. We’ve seen how that movie ends. Anyway, the bank ended up with it, put it on the market for $549,900 (a fair bit above the county’s assessed value of $451,223) and we now have a contract.

Bay Front Home Under Contract Feb. 14, 2011 with List Price of $395,000

We’ll head over on to the mainland for our next two contracts, beginning with this familiar bay front beauty on Sandbar Drive in Treasure Bay out along C-30. This handsome 3-bedroom, 4-bath, 2,830 square foot bay front home 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.

Money Bayou Gulf View Home Under Contract Feb. 14, 2011

Our third new contract takes us over to Money Bayou, one of my favorite areas, to this Key-West-style 2-bedroom, 2-bath, 942 square foot gulf view home which went under contract with a list price of just $249,000. It’s not listed as a short sale even though the sellers bought it in April 2007 for $459,000. The county currently has it assessed at $154K which I think is too low. The gulf views from homes on this street are surprisingly good, it’s a cool neighborhood, and eligible for federal flod insurance, so the area has a lot of positive selling points. I have a similar home listed on this same street over closer to the bayou and it has great views of both the gulf and the bayou, and is well-maintained and furnished very nicely.

Bay View Home at Ovation for Just $479,000

We have an attractive mix of quality properties among our ten new listings, but my Pick of the Week goes to this outstanding value at Ovation where this awesome 3,100 square foot, 3-bedroom, 3 1/2 bath Florida style home debuts as a bank-owned listing for an unbelievable price of just $479,900. This home is top end throughout, with such details as Brazilian teak floors, African granite counter tops, solid pine interior doors, Anderson windows and doors throughout, and custom cabinetry of the finest quality. It’s located on the bay crescent, so the views are magnificent. Here are some photos of the interior to give you an idea of just how exquisite this fine home is.

Gorgeous Kitchen and Spacious Living Area

Custom Kitchen

Gleaming Floors

The home features gleaming Brazilian teak floors throughout.

The Bay Front Infinity Pool at Ovation

The beautiful bay-front infinity pool at Ovation.

That’s it for this week. I have back-to-back appointments for showing property today and tomorrow so it’s a busy weekend shaping up. The weather has warmed up and it’s a great time to look at property so if you have plans on being in the area any time soon, please give me a call at 850-227-5197 or shoot me an email to [email protected] and I’ll be glad to help. Have a great weekend, and thanks so much for taking time out of your schedule today to stop by.

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