I hope you had a pleasant Thanksgiving holiday with family and friends. The weather along the coast couldn’t have been lovelier. Buyers were thinking about turkey more than real estate, though, so not surprisingly, we had a fairly slow week, closing just one sale, writing up three new contracts, adding three listings, and marking down two price changes.
This week’s solo sale is a 75′ x 310′ gulf front lot in Treasure Shores that went under contract two weeks ago with a list price of $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. On Wednesday it sold for $215,000.
The first of our three new contracts is on this elegant bay front home on Cape San Blas that the sellers purchased as recently as June 2012 for $675,000. They have it listed with a modest mark-up for $699,900. It’s a 3,455 square foot, 3-bedroom home on roughly 2.25 acres with 130′ of waterfront.
Our next contract is on a first tier corner lot over in Treasure Shores out along the C-30 Corridor. The half-acre lot measures 100′ by 249′ and offers awesome gulf views. The sellers bought it in early 2003 for $260,000 and have it listed now for $95,000, but it is not a short sale. The county has it assessed at $75,000.
A few miles further east along the C-30 Corridor our third and final new contract is on a bank-owned lagoon front lot listed for an unbelievably low $14,900. The last time it sold was in the summer of 2004 when it went for $230,000. This past September Bank of America took it back and listed it well below the county’s assessed value of $20,750. Their strategy worked as it has only been on the market since the 8th of October.
That does it for today – pretty quick trip so you have plenty of time to get back to work on those Thanksgiving leftovers. If you need to move cash assets into real estate before the end of the year there is still time to do so but we need to get started, so call or text me at 850-227-5197 or shoot me an email to [email protected]. Have a terrific week and thanks so much for taking time during this holiday weekend to stop by.