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Cape San Blas Real Estate Week in Review - Sep. 22-28, 2012

Published on September 29, 2012 by Sherri Dodsworth under Cape San Blas

Somebody hit the brakes this week as our real estate market slowed to a near stop, with only one closing and two new contracts, five new listings and six price changes. Our inventory is stalled, too, unchanged from last week closing once again at 340 with 93 homes and 247 lots listed for sale in thenCape San Blas, Indian Pass and C-30 Corridor market.

Bank-Owned Second Tier Lot at Ovation Under Contract August 2012 with List Price of $70,000

Our solitary sale is is a bank-owned second tier lot which, in the summer of 2005, sold for $450,000. That was then and this is now, and it went under contract in mid-August with a list price of $70,000, well below the county's assessed value of $100,000. On Monday it sold for $65,000.

Cape San Blas First Tier Lot Under Contract Sept. 2012 with List Price of $169,000

The first of our two contracts is a on quarter-acre first tier lot on Haven Road about two miles south of Ovation. The seller bought it last December for $100,000 and currently has it listed for $160,000. Both of those prices are a far cry from the $579,000 it sold for in 2005.

Indian Pass Home Under Contract Sept. 2012 with List Price of $145,000

We'll head off the Cape and over to Indian Pass for our other new contract. This one is on a 3-bedroom, 1 1/2-bath, 864 square foot house on Indian Pass Road not far from the boat launch. The owners bought it in late 2008 for $92,500 and have been trying to sell it since mid-2010 when they listed it for $249,000. By now that list has been adjusted downward to $145,000. The county has this one assessed seemingly low for $78,899.

That didn't take long. Hopefully this is just a passing lull and we'll be back up to full speed next week. If you'd like to explore the possibility of acquiring some coastal property of your own, I'll be glad to assist you. Simply call or text me at 850-227-5197 or shoot me an email to [email protected] and we'll get started. Thanks for taking time today to stop by and I hope you'll visit again soon.


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