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Cape San Blas Real Estate Week in Review - Jan. 26-Feb. 1, 2013

Published on February 2, 2013 by Sherri Dodsworth under Cape San Blas

For Sale Sold SignWe wrote a lot of contracts these past two weeks but few reached the closing table. We penned another nine this week, but only closed one.  Six sellers put their properties on the market while seven others changed their prices, and three listings which had been under contract or expired came back on the market. We did manage to trim five listings off our inventory, closing the week at 262, with 81 homes and 181 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 off the shelves.  

Bank-Owned Cape San Blas Gulf View Lot Under Contract Jan. 2013 with List Price of $99,000

Our solo sale is the lot on Emerald Isle Drive in San Blas Shores, adjacent to the north side of Ovation, that we looked at last week when it went under contract. It’s an irregularly shaped 0.13 acre bank owned gulf view lot listed for $99,000, but assessed by the county for just $50,000, which is real close to the $55,000 it sold for on Monday. There was no recorded sales history on this one that I could find.

 Cape San Blas Townhouse at Barrier Dunes Under Contract Jan. 2013 with List Price of $249,000

Lots of action this week up on the north end of the Cape in Barrier Dunes where three of our nine new contracts are located, beginning with this 2-bedroom, 2 1/2-bath, 1,377 square foot gulf view townhouse went under contract as a short sale with a list price of $249,000, the sellers having paid $375,000 for it in mid-2007.  This is one of only about a dozen townhouses in Barrier Dunes located entirely in an “X” flood plain. The county has it valued a bit on the low side at $157,863.

 

Next up is another 2-bedroom layout pond front unit on Parkside Circle offered for sale at $199,000, essentially what they paid for it in 2002 when they bought it from the developer for $192,300.  

Bank-Owned Barrier Dunes Townhouse at Cape San Blas Under Contract Feb. 2013 with List Price of $134,500

Our third Barrier Dunes contract is on a bank-owned 2-bedroom, 2 1/2-bath, 1,377 square foot unit overlooking a pond on Parkside Circle, listed for $134,500, not far from the $129,000 it sold for in 2001.  Then, just three years later in 2004, it sold again for $325,000.  There are no contingencies to be met on this contract so I suspect it’s going to close pretty quickly.

 

Cape San Blas Gulf Front Lot Under Contract Jan. 2013 with List Price of $439,900

We’ll head about a half mile down the beach for our next contract, which is on an irregularly shaped gulf front lot adjacent to the north side of Peninsula Estates. It’s about 1.74 acres of a larger parcel in the process of being re-platted into two smaller ones.  The seller has it listed for $439,900.

Cape San Blas Gulf View Home Under Contract Jan. 2013 with List Price of $279,900

About another quarter mile down the beach we find our fourth contract, a 3-bedroom, 2-bath, 1,440 square foot gulf front home circa 1990 listed for 279,900, down significantly from its original list price of $349,900 when it entered the MLS last September. The sellers bought it in 2004 for $359,000

Cape San Blas Gulf Front Home Under Contract Jan. 2013 with List Price of $350,000

Our fifth contract is on another gulf front property, this one a 2-bedroom, 2-bath, 1,400 square foot gulf front home on Jamaica Drive, the road that runs next to The Trading Post. This home was built in the late 80’s or early 90’s on the lot next door, and was relocated to its current location some years ago. It’s in a VE flood plain.   The sellers bought it in2005 for $1,077,000 and did a good bit of renovations. They put it on the market in 2006 for $895,000 but weren’t able to attract a buyer, and it goes under contract this week as a short sale with a list price of $350,000.

Cape San Blas First Tier Lot Under Contract Jan. 2013 with List Price of $115,000

People were all about buying the Cape this week and our next contract is not far from the Trading Post, an “X”-zone first tier lot in Dolphin Beach to Bay listed for $115,000, not far off the county’s assessed value of $100,000. In 2005 the sellers bought it for $748,000, but it is not a short sale.

Cape San Blas First Tier Lot Under Contract Jan. 2013 with List Price of $79,900

Down on the south side of the Cape in San Blas Plantation our next contract is on an irregularly shaped first tier corner lot went under contract on Monday with a list price of $79,900. The sellers bought it in 2000 for $64,500, sadly close to the county’s current assessed value of $67,500.

Mobile Home on C-30 Under Contract Jan. 2013 with List Price of $49,995

We’re leaving the Cape for the first time today, heading out along the C-30 Corridor in the direction of Apalachicola to this mobile home on a large 1.2 acre lot not far from the Gulf County line.  The 2-bedroom, 1 1/2-bath circa 1984 home needs a little TLC but the lot itself is very nice. The last time it sold was in 1994 when it went for $22,000.

That does it for today.  Listings are moving at a pretty brisk pace again so if you’ve been toying with the idea of acquiring some coastal property it’s time to act before all the choice properties are sold.  Call or text me at 850-227-5197 or shoot me an email to [email protected] and we’ll get started.  Until then, have a great week and I hope to hear from you soon. Thanks for taking time out of your busy schedule to stop by.

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