I’ve had so many people tell me over the past several months they were holding off on making any real estate investments until they knew what the outcome of the election was in November. Now we know. Remains to be seen what impact it will have on our market. Even so, this week we managed to close two sales and write two new contracts, add two new listings and pen nine price changes. Still not much change in our inventory, holding fairly steady, closing the week down just two at 297, with 87 homes and 210 lots listed for sale in the Cape San Blas, Indian Pass and C-30 Corridor Market. Let’s see what went down.
The first of our two sales finds us over on Indian Pass where this gulf front octagonal home with 3 bedrooms, 2 1/2 baths and 2,342 square feet went under contract in mid-October with a list price of $539,000, below the $590,000 the sellers paid for it in mid-2001, but above the county’s assessed value of $505,629. On Thursday it sold for $485,000.
Our second sale is a gulf front lot near the tip of Indian Pass, a one-third acre lot in St. Vincent Point which the sellers bought in November 2001 for $670,000. Theyinitially listed it in early 2006 with an asking price of $799,000, but were never able to find a taker. In June it went under contract as a short sale with a list price of $109,900 and on Tuesday it sold for $100,000, below the county’s assessed value of $112,500.
Both of our two new contracts are along the C-30 Corridor, the first of which is a 75′ x 310′ gulf front lot in Treasure Shores listed for $279,000. The owners picked it up in January of this year as a bank-owned property for $197,200, somewhat above the county’s assessed value of $175,000. In April 2002 it sold for $380,000 and just one year later in May 2003 it sold for $595,000.
The second contract is about a mile or so west on C-30 over in Treasure Bay. This one’s a 103′ by 220′ bay view lot listed for $28,500, pretty much in line with the county’s assessed value of $25,000. The last time this one sold was way back in 1990 when it went for $9600, roughly $17,000 today in inflation adjusted dollars.
That didn’t take long – not a whole lot to cover this week. If you’re interested in checking out some of the attractive values out there, let me know – call or text me at 850-227-5197 or shoot me an email to [email protected] and let’s get started. Have a terrific week and please stop back soon and, as always, thanks so much for taking time to stop by today.