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Cape San Blas Real Estate Week in Review - Oct. 1-7, 2011

Published on October 8, 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

What difference a week makes. After logging record numbers last week, this week buyers took a breather, with no sales and only two new contracts, seven new listingsand seven price changes. Even our inventory remained static, staying put at 391, with 108 homes and 283 lots for sale in the Cape San Blas, Indian Pass, and C-30 Corridor market. Let’s take a look at what caught buyers eyes this week.

Gulf View Cape San Blas Home Under Contract Oct. 5, 2011 as a Short Sale with List Price of $249,000

The first of our two new contracts is on this 2-bedroom, 2-bath, 900 square foot gulf view beach cottage in Feather Sound on Cape San Blas. It went under contract on Wednesday as a short sale with a list price of $249,000, having last sold in August 2004 for $438,000. The owners have been trying to sell it since mid 2006 when they initially listed it for $619,000. The county has it valued pretty low at $155,468.

Bank-Owned Cape San Blas Bay View Lot Under Contract with List Price of $20,000

Our second sale is on a bank-owned bay view lot at Eventide on the south side of the Cape, which went under contract on Tuesday with a list price of $20,000, exactly one half of the county’s assessed value of $40,000. This is one of several bank-owned properties in this subdivision which the developer had never been able to sell. There are no contingencies to be met so it should close pretty quickly.

There are several appealing possibilities among our seven new listings to check out, such as a 100’wide lagoon front lot for $50,000, or a first tier bay view lot on Sandbar Drive in Treasure Bay subdivision listed for $34,000.

As for our seven price changes, I’m not seeing anything genuinely exciting; they’re moving in the right direction, but I still think our actual sale prices are góing to be lower than what we’re seeing with these.

Quick as a falsh, we’re done. Quite a contrast from last week’s marathon. If you have any questions about what other values may be found here at the beach, just let me know; I’ll be glad to help you with your search. Call or text me at 850-227-5197 or send an email to [email protected] . Thanks for checking in today, and I hope to hear from you soon.

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