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Cape San Blas Week in Review - Oct. 29-Nov. 4, 2011

Published on November 5, 2011 by Sherri Dodsworth under Barrier Dunes, Beach Renourishment, Cape San Blas, FEMA, Foreclosures/Short Sales, Forgotten Coast, Indian Pass, Real Estate

Halloween goblins seemed to have scared off buyers as we had one of the quietest weeks I can remember in quite some time. We managed just two sales, no new contracts, only four new listings, and repriced two properties. The week ends with inventory unchanged, closing at 389, with 107 houses and 282 lots listed in the Cape San Blas, Indian Pass and C-30 Corridor markets.Barrier Dunes Interior Townhouse Under Contract Oct. 30, 2011 with List Price of $199,000

The first of our two sales is up at Barrier Dunes on the north end of Cape San Blas where with this 2-bedroom, 2 1/2 bath, 1,377 square foot townhouse which went under contract just last Sunday. It was listed for $199,000 and closed on Friday for $185,000, well above the county’s assessed value of $160,925. The seller bought it in late 2002 when he picked it up for $212,900.

Treasure Bay First Tier Lot Sold Oct. 2011 as Short Sale for $25,000

Our second sale is over in Treasure Bay out along the C-30 Corridor. It’s a first tier, bay view corner lot listed as a short sale for $29,900. This is a nice size half-acre property measuring 103′ by 220′. The sellers paid $225,000 for it in October 2004, and sold it this week for $25,000 cash, well below the county’s assessment of $34,000.

Ovation X Zone Lot for Just $43,000

For my Pick of the Week from our four new listings, I’m going with the lowest priced “X” zone lot at Ovation, number 74, on the bay side of Cape San Blas Road. At only $43,000, below the county’s assessed value of $45,000, it’s definitely worthy of a closer look.

Cape San Blas Gulf View Home Now Just $299,000 I also have a Pick of the Week from our two price changes. I think this 3-bedroom, 3-bath, 1,618 square foot gulf view “X” zone home in Two Palms is an attractive offer since the sellers slashed the price this week from $399,000 to $299,000.

Pretty Gulf View From Home at Two Palms

It has pretty gulf views from the spacious decks and porches, and even has a screened in-ground pool.

Screened In-Ground Pool at Two Palms Home

Here are the MLS details:

Spacious and airy 3 bedroom 3 bath fully furnished home located in the X flood zone. The home was designed with an open floor plan to take advantage of the beautiful Gulf views. The living areas open onto the covered porches creating a large entertaining space. The upgraded kitchen features ceramic tile countertops and floors, with stainless steel appliances. Enjoy breathtaking sunsets from the porches on both upper levels that span the entire length of the home. As an added bonus, the home also includes its own swimming pool, covered by screened enclosure! The natural setting of Two Palms creates a feeling of seclusion and privacy. This home is currently on a rental program. Rental income for 2008 was $40,000, and for 2009, $49,500. Owner is willing to sell Half Interest in property.

So that officially wraps us up for another week. I’m off now to Apalachicola for the afternoon to enjoy the Florida Seafood Festival which as always should be a lot of fun, especially as nice as the weather is today; cool, clear and breezy, with an afternoon high of around 71 forecast. Planning on enjoying some great seafood and good times with old friends. If you’re in the area, hope to see you there. If you’re interested in info on joining us here on the coast as either a full-time or part-time “Caper”, give me a call on my cell at 850-227-5197 or shoot me an email to [email protected] . Looking forward to hearing from you. Have a great week and thanks so much for taking time to stop by today.

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