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Cape San Blas Real Estate Week in Review - Nov. 19-25, 2011

Published on November 26, 2011 by Sherri Dodsworth under Barrier Dunes, Cape San Blas, FEMA, Foreclosures/Short Sales, Forgotten Coast, Indian Pass, Mexico Beach, Port St. Joe, Real Estate, Taxes

I hope you had a terrrific Thanksgiving with family and friends. It was a gorgeous day here on the Cape, warm and clear. Lots of people here for the holiday, with this traditionally being when our many absentee owners who rent their homes block this week out for them and their families to use. Seems as if everybody had turkey, football and fishing on their minds rather than real estate as there was very little activity, with no sales though we did manage to serve up two new contracts, four price changes, and one new listing. Accordingly, virtually no change in our inventory, moving down by only one to 387, ending the week with107 homes and 280 lots listed for sale in the Cape San Blas, Indian Summer, and the C-30 Corridor market.

Cape San Blas First Tier Lot Under Contract Nov. 22, 2011 with List Price of $109,000 Both of our two new contracts are on lots, the first being this one-third acre first tier lot on the Cape listed for $109,000. The sellers bought this “X” zone lot in May 2000 for $96,000, and have been trying to sell it since August 2005 when they initally listed it for $750,000. The county has it pegged at $120,000. There are no contingencies to be met so it should close relatively quickly.

Second Tier Lot at Cottages of Indian Summer Under Contract Nov. 22, 2011 with List Price of $27,500 Our second new contract is on this quarter-acre second tier lot nestled among the pines and palms at the Cottages at Indian Summer near Indian Pass along the C-30 Corridor. It goes under contract with a list price of $27,500. The owners have had it since late 2003 when they pcked it up for $50,000. Theystarted tyring to sell it in early 2008 when they listed it for $229,000. The county’s assessment is way above list at $73,600, but they describe it as a first tier rather than a second tier, so that error may be causing the discrepency.

Cape San Blas 1.25 Acre Gulf Front Lot Now Just $225,000 as Short Sale

Can’t really have a “New Listing Pick of the Week” when there’s only one new listing, but from our four price changes I do have a Price Change Pick of the Week. I’m going with this 1.25 acre gulf front lot in Jubilation on the south side of the Cape which was reduced in price from $265,000 to $225,000 as a short sale; that’s well below the county’s assessed value of $315,000. The sellers paid $900,000 for it in late 2004.

That does it for this week. Since this weekend offically kicks off the Christmas shopping season, if you’re considering a place at the beach for that special someone on your list, by all means let me know and I’ll gladly play the part of Santa’s helper to help you find it. You can call me on my cell at 850-227-5197 or text me or send me an email to sherri@sherridodsworth. Have a great week, and thanks so much for stopping by today.

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