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Cape San Blas Week in Review - Oct. 15-21, 2011

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

For Sale and Sold SignWe’ve had a relatively quiet week with just two sales, four new contracts, four new listings and six price changes. Accordingly, very little change in our inventory, closing down just two at 393, with 110 homes and 283 lots listed for sale in the Cape San Blas, Indian Pass and C-30 Corridor market.

ape San Blas Gulf Front Lot Sold Oct. 21, 2011 for $300,000

Both of our sales were lots on Cape San Blas, beginning with this beautiful 64′ by 420′, 0.62 acre gulf front property on Haven Road. This one sold in 1999 for $167,500, and then again in early 2005 for $1.6M, a ten-fold increase in just six years; this week it sold for full list price of $300,000, but was not listed as a short sale. The county had it at $202,608.

Cape San Blas Gulf View Lot Sold Oct. 2011 for $45,000

The second sale was this quarter-acre gulf view lot in San Dunes subdivision listed for $69,000 which sold for $45,000, both well below the county’s assessed value of $85,000. The sellers paid $385,000 for it in September 2004, the absolute peak of the market.

Cape San Blas Gulf Front Duplex Under Contract Oct. 21, 2011 with List Price of $299,000

The first of our four new contracts is one-half of this gulf front duplex on Tobago Lane, near the Cape Tradin’ Post. It’s a 1,190 square foot, 3-bedroom, 2-bath home built in 1983 with 60′ of waterfront. The seller has owned it since the summer of 2002 when she paid $301,520 for it. It went under contract on Thursday with a list price of $299,000, not too far off from the county’s assessed value of $263,057.

Cape San Blas Bay Lots Under Contract Oct. 2011 with List Prices of $20,000

Down on the south side of the Cape our next two contracts are on two adjacent bank-owned bay front lots in Eventide, where we saw one of the other adjacent lots sell last week for just $12,000. These two are also listed as that one was at the ridiculously low price of $20,000 each, so I’m guessing $12K is what these will go for as well. The county’s going to have a lot of adjusting to do with these sales as they’ve had them valued at $40,000.

Indian Pass Gulf Front Lot Under Contract Oct. 2011 with List Price of $230,000 as Short Sale

Our fourth and final new contact is over on Indian Pass in the Indian Summer subdivision where this 68′ wide gulf front, FEMA eligible lot went under contract on Wednesday as a short sale with a list price of $230,000. The county has it valued slightly lower at $205,000.

I don’t think I’ve encountered this week’s situation where I think all four of our new listings merit a close look as they’re all good homes attractively priced right out of the gate.

Two Bedroom Barrier Dunes Unit Priced at Just $159,000 One is this 2-bedroom townhouse at Barrier Dunes, fully furnished, near the second pool and tennis courts, priced at just $159,000.

Four-Bedroom, Five-Bath Townhouse at Seacliffs for Just $295,000

It has been a good while since we’ve seen one of the 4-bedroom gulf view townhouses at Seacliffs enter the market priced as low as this one for $295,000. Featuring over 2000 square feet of living area in a reverse layout that has your living area on the top floor to maximize views, and an elevator to make that trek a piece of cake.

Barrier Dunes 3-Bedroom, 3-Bath X Flood Zone Townhouse for $369,000

Back at Barrier Dunes we have another attractive new listing with so much going for it. It’s a spacious 3-bedroom, 3 1/2-bath, 1800+ square foot townhouse with awesome gulf views AND it’s located in the coveted “X” flood zone. The sellers are pricing it very competitivley at $369,000. Here are the details from the MLS:

“X” Flood Zone 3 BR/3.5 BA Gulf Front Townhome in Barrier Dunes. Enjoy spectacular views from your decks of the gorgeous sugar white sands of Cape San Blas! Comfortably decorated this unit is the one to have! The main living area is spacious and has its own private deck, the kitchen, dining area and half bath are also located on this level. There is also a fire place. The second level has two bedrooms, each with its own private bath and balcony. The gulfside bedroom has spectacular views from the private balcony. The laundry and additional storage are also located on the 2nd level. The third level is the large master suite, with double vanity, jacuzzi tub, seperate shower, walk in closet and additional storage. There is also a spacious deck to enjoy panoramic views of the Gulf! New roof, newly painted, new carpet, new appliances!

Bank-Owned Indian Pass Gulf Front Home for $629,900

I could arguably be accused of saving the best for last with this one. Here’s a bank-owned magnificent gulf front home at Indian Pass, originally offered in 2007 for $1.999M, now fire-sale priced at only $629,900. When only the finest will do, this 5-bedroom, 5-bath home with 3,861 square feet of living space should fill the bill. Wide outdoor decks span the gulf front side of each of the living areas, expanding the total footage to 6,140. If the surf’s a bit rough, cool off in the in-ground pool overlooking the beach. Ease of access to each level of the home via elevator. You could not recreate this fine home today on a comparable gulf front lot at this price. People often tell me they’re looking for a “steal of a deal”. This IS that deal.

That does it for this week. Lots of goodies from which to choose so let me know if you’re interested in finding out more about any of these or other listings. Text or call me at 850-227-5197 or shoot me an email to [email protected] . Have a terrific week and I hope to hear from you soon. Thanks so much for taking time to stop by today.

1 Comment on 'Cape San Blas Week in Review – Oct. 15-21, 2011':

Tom Johns on 10/27/11:

Dear Sherri: This looks like a great deal! Who was the builder? does it have a dune walkover? Is the construction complete? Which floor is the kitchen? Is Fed Flood asvailble? Taxes, Power Bills? What floor is the kitchen and master on? Do you have any pictures of the inside? Thanks Tom Johns 478-234-0143 or you can e-mail

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