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Cape San Blas Real Estate Week in Review, Aug. 25-31, 2012

Published on September 1, 2012 by Sherri Dodsworth under Cape San Blas

We’ve had a windy, rainy week here along the coast but we emerge thankful to have been spared the worst of Isaac’s force. Our thoughts and prayers are with the families west of us who are dealing with the aftermath of the full impact of the storm. Our real estate market wasn’t affected by the storm and we managed to close four sales, pen three new contracts, enter six new listings and change eleven prices. As a result, we took a nibble out of our inventory, closing at 345, down four from last week, with 90 homes and 255 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.

Sea Cliffs Townhouse Under Contract Aug. 3, 2012 with List Price of $249,000

We’ll head to the north end of the Cape for the first of our four sales, stopping at Sea Cliffs, where this 3-bedroom, 3 1/2 bath, 1,692 square foot townhouse went under contract on August 3rd with a list price of $190,000, well below the county’s assessed value of $235,543. The sellers bought it in mid-2003 for $325,000, and have had it on the market since January when they listed it for $249,000. On Friday it sold “as is” with seller financing for $170,000.

Cape San Blas Beach Cottage Under Contract June 2012 with List Price of $159,900

Our second sale is located about three miles south on the Cape on Jamaica Drive, the road beside The Tradin’ Post. It’s one of several tiny beach cottages built in the late eighties back behind the store. This 2-bedroom, 1-bath, 520 square foot package went under contract in late June with a list price of $159,900, way above its assessed value of $115,348. The sellers bought it in the summer of 2003 for $145,000, and on Tuesday they sold it for $150,000.

Cape San Blas Pre-Construction Package Under Contract May 17, 2012 with List Price of $449,900

Our third sale takes us down near the rocks at Stumphole where we have a gulf front pre-construction package for a 4-bedroom, 2 1/2-bath, 2,100 square foot home with in-ground pool. The county has an assessed value of $150,000 on the 51′-wide lot. The package sold this week for full list price of $449,000.

We’ll leave the Cape for the first time today for our fourth and final sale, heading out along the C-30 Corridor to this bank-owned bay view lot listed for $52,000. It originally sold in 1994 $9,600, and the last owners paid $239,000 for it in the summer of 2004. Today the county has it assessed at $25,000, and on Friday it sold for $37,100 cash.

Gulf Front Lot at Secluded Dunes Under Contract Aug. 30, 2012 As A Short Sale with List Price of $279,000

We’ll begin our review of this week’s crop of three new contracts up in Secluded Dunes, the northernmost subdivision on the Cape. There we find this 100′ wide gulf front lot listed as a short sale for $279,000, having last sold in mid-2004 for $1.2M. The county has it assessed at $315,000.

Barrier Dunes Townhouse Under Contract August 28, 2012 with List Price of $199,000

Our next contract is in nearby Barrier Dunes; it’s a 2-bedroom, 2-bath, 1,216 townhouse listed for $199,000. The sellers bought it in mid-2006 for $270,000 and it has been a well-performing income-producing rental property for them ever since, grossing $17,808 in rental income last year.

We’ll leave the Cape and head out along the C-30 Corridor towards town for our third new contract. Not far fron the Buffer Preserve this bank-owned, three-bedroom, 2-bath, 1,700 square foot bay front home built in 2006 went under contract with a list price of $231,000, not too far off the county’s assessed value of $190,000.

That does it for this week. I hope you and your family have fun plans lined up for the Labor Day Weekend. Our beaches are warm and sunny now that the remnants of the storm have moved out of the area. If you’d like to stake your claim on some of this soft white Florida sand, call or text me at 850-227-5197 or shoot me an email to [email protected] and we’ll get started. I appreciate your taking time out of your schedule to stop by today, and hope to see you back again soon.

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