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Cape San Blas Real Estate Week in Review - Oct. 13-19, 2012

Published on October 20, 2012 by Sherri Dodsworth under Cape San Blas

For Sale Sold SignOctober may just be my favorite month of the year here on the Forgotten Coast. I love how the air is cool, the humidity is low, and the skies are crystal clear. It just puts you in a good mood. Seems a lot of folks were feeling pretty good about the area this week, too, as a number of them staked a claim on some of this beach paradise to call their very own. They closed on four sales and wrote another four contracts. We only added two new listings and marked down one. Finally, our inventory took a really nice dip, closing down 20 from last week to close at 297, with 88 homes and 209 lots listed for sale in the Cape San Blas, Indian Pass and C-30 Corridor market. Let’s take a look at what all went on since last we met.

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

The first of our four sales is a quarter-acre first tier lot on Haven Road about two miles south of Ovation. The seller bought it last December for $100,000; it went under contract with a list price of $160,000. Both of those prices are a far cry from the $579,000 it sold for in 2005. He made a tidy profit on this short-term investment this week selling it for $120,000.

Cape San Blas Gulf Front Lot Under Contract Oct. 2012 with List Price of $215,000

We’ll head down to the south side of the Cape for our next two sales, beginning with a 50′ wide by 1,138′, 1.3-acre gulf front lot with an asking price of $215,000 which is what he got for it this week at closing. No previous sales info, but the county’s current assessed value is $175,000.

Gulf Front Condo at Cape San Blas Under Contract Oct. 2012 with List Price of $239,000

Just a few hundred yards away is The Dunes Club, where this 3-bedroom, 2-bath, 1,176-square foot gulf front condo went under contract last week with a list price of $239,900. This is one with an interesting sales history having sold by the developer in January 2004 for $325,000, then again the following January for $515,000, and then again in late 2010 for $250,000. The county currently has it assessed at $215,989, and on Friday it sold for $210,000.

Our fourth and final sale is over on Indian Pass in Indian Summer. This one’s a 90′ by 300′, .62 acre canal front lot also listed as a short sale with a $65,000 list price, right in line its assessed value of $63,000. This week the lender approved a short sale offer of $45,000.

Barrier Dunes Townhouse at Cape San Blas Under Contract Oct. 2012 with List Price of $219,900

The first of our four new contractsfinds us up on the north end of the Cape in Barrier Dunes, where this 2-bedroom, 2 1/2-bath, 1,593 square foot townhome went under contract with a list price of $219,900. That’s just a bit less than the $222,5000 the sellers paid for it in late 2003.

Cape San Blas Gulf Front Lot Under Contract Oct. 2012 with List Price of $265,000

Let’s travel about three miles south to Clifton Place, a micro subdivision just south of Scallop Cove to our next contract which is on a 50′ wide gulf front lot listed for $265,000. It’s not listed as a short sale even though the sellers paid $995,000 for it in October 2004. One year prior, in October 2003, it sold for $575,000. Today the county has it assessed at $175,000.

!6 Lot Subdivision Near Presnell's Boat Launch Under Contract Oct. 2012 with List Price of $399,900

Our next contract is a little out of the ordinary, an entire subdivision. Over on the C-30 Corridor near Presnell’s Marina this 16-lot project known as Bay Colors went under contract with a list price of $399,900. I wasn’t able to track down what the original parent parcel sold for.

Gulf Front Home at Indian Pass Under Contract Oct. 2012 with List Price of $539,000

Our fourth and final new contract takes us over to Indian Pass to this gulf front octagonal home with 3 bedrooms, 2 1/2 baths and 2,342 square feet. The home is situated on a 100′ wide, 1.14 acre lot. The sellers have it listed for $539,000, just a bit below the $590,000 the sellers paid for it in mid-2001, and not too far off from the county’s assessed value of $505,629.

That’s a wrap for this week. Lots going on – if you’re interested in finding a great value of your own, call or text me at 850-227-5197 or shoot me an email to [email protected] and we’ll get started. I hope to hear from you soon, and really appreciate your taking time to stop by today.

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