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Cape San Blas Real Estate Week in Review - Aug. 13-19, 2011

Published on August 22, 2011 by Sherri Dodsworth under Barrier Dunes, Cape San Blas, FEMA, Foreclosures/Short Sales, Forgotten Coast, Indian Pass, Port St. Joe, Real Estate

The kids in Georgia have all gone back to school now, so we’ve had far fewer visitors around here this week. Not surprisingly, things slowed down a bit after several back-to-back weeks of frenzied activity. We managed only one sale and two new contracts, six new listings and seven price changes. Unfortunately, our inventory closed back over 400 at 403, up seven from last week, with 119 homes and 284 lots listed for sale in the Cape San Blas, Indian Pass, and C-30 Corridor market. Let’s take a look at what’s moving.

Interior Lot Near Cape San Blas Sold August 17, 2011 for $20,000

For our single sale we’ll head south along the C-30 Corridor to Waters Edge, the first subdivision on your left after you turn right off of Cape San Blas Road heading towards Indian Pass. It’s a bank-owned, irregularly shaped roughly one-third acre lot that sold in June 2004 for $199,000. They put it back on the market the following May listing it for $325,000, but were never able to attract a buyer. Times change and two weeks ago it went under contract with a stunningly low list price of $17,000, roughly half of the county’s assessed value of $32,000, and on Wednesday it sold for $20,000 cash.

Cape San Blas Gulf Front Home Under Contract as a Short With List Price of $499,900 August 15, 2011

The first of our two new contracts is on this 3-bedroom, 3-bath, 1,532 square foot home situated on a 51′ wide gulf front lot on Clipper Way on the Cape. Built in 1989, it has an interesting recent history, having sold in late 2004 for $772,000, and then again the following winter for $1.188M. That’s a little bit above the $291,400 the county currently has it assessed for. It went under contract Monday as a short sale with a list price of $499,900.

Treasure Bay Lot on C-30 Under Contract August 19, 2011 with List Price of $29,000

Our second contract is on a C-30 lot in Treasure Bay listed for $29,000. It’s roughly half an acre, measuring 103′ by 217′, and has deeded bay access almost directly across the street from it. The sellers bought it in 2001 for $23,500, which is pretty close to its current assessed value of $25,000. There are no contingencies to be met so we should know pretty quickly what it goes for.

We have an unusually fine crop of six new listings this week so I encourage you to look at each of them. Two very interesting gulf front homes and a 3 1/2 acre lagoon front parcel on Indian Pass look especially intriguing.

Gulf Front Townhouse Now Only $199,000

Among our seven price changes, for my Price Change Pick of the Week I’m going with this gulf front townhouse at Money Bayou on C-30 which was lowered to $199,900. At that price it’s a short sale, having last sold in early 2003 for $230,014. The sellers originally listed it in late 2005 for $625,000. If you’re looking for a comfy place at the beach for a reasonable price, you need to take a look at this 2-bedroom, 2 1/2 bath, 1,140 square foot home located in Cape Villas. This twelve-unit complex also has a community pool overlooking the gulf.

That does it for this week. I apologize for the late posting of this update, but I once again had techinal problems with WordPress, the program I use to do my blog. It wouldn’t let me save anything I added. Finally discovered this morning the program has developed some issue with my home computer as it works just fine on my office computer. Not sure what that’s about. Anyhow, we’re back on track now and looking forward to a fantastic week. If you’re interested in finding out about any of these properties I’d love to hear from you. Please call or text me on my cell, 850-227-5197, or shoot me an email to [email protected] . Thanks so much for taking time to stop by today.

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