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Cape San Blas Real Estate Week in Review - March 9-15, 2013

Published on March 16, 2013 by Sherri Dodsworth under Cape San Blas

For Sale and Sold SignSpring Breakers weren’t the only visitors enjoying our gorgeous beaches this week, as a number of buyers decided on picking up the ultimate vacation souvenir, their very own coastal retreats. We closed four sales, wrote up four new contracts, added six listings, and changed prices on two others. No change in our inventory, closing the week once again at 254, with 86 homes and 168 lots listed for sale in the Cape San Blas, Indian Pass and C-30 Corridor market. Let’s check out what’s moving.

Gulf Front Lot at Secluded Dunes Under Contract Aug. 30, 2012 As A Short Sale with List Price of $279,000

Two of this week’s crop of four sales are up in Secluded Dunes, the northernmost subdivision on the Cape, beginning with this 100′ wide gulf front lot listed as a short sale for $230,000, having last sold in mid-2004 for $1.2M. The county has it assessed at $315,000, and on Tuesday it went for $195,000.

Cape San Blas Gulf Front Lot at Secluded Dunes Under Contract Jan. 2013 as Short Sale with List Price of $305,000

Next up is this half-acre gulf front lot measuring roughly 75′ by 280′ that went under contract Christmas week as a short sale with a list price of $305,000. The sellers have owned it since early 1995 when they bought it for $440,000, just about double its current county assessed value of $233,000, and on Tuesday they sold it for $230,000.

Bank-Owned Second Tier Lot Near Indian Summer Under Contract with List Price of $25,000

We’re heading out along C-30 travelling east over to the Cottages of Indian Summer for our third sale, a bank-owned second tier half-acre lot that went under contract just last week with a list price $25,000, below the county’s assessed value of $27,000. Even that assessed value is less than ten-cents-on-the-dollar of the $274,100 it last sold for in 2006. I helped my buyer negotiate a deal with the bank last Friday, and exactly one week later he picked up the title at closing for $20,000.

Indian Pass Gulf Front Lot Under Contract Feb. 2013 with List Price of $524,000

Let’s continue our travels on over to the Indian Pass Peninsula for our fourth sale, a gorgeous 131′ by 301′ gulf front lot overlooking St. Vincent Island. It’s a good-sized building site, just a little shy of a full acre. The sellers were asking $524,000 for it, but this week accepted $399,000, with the buyer paying all closing costs associated with the sale, plus a 5% real estate commission.

Seacliffs Townhouse Under Contract Mar. 2013 with List Price of $223,500

We’re back on the north end of the Cape for the first of our four new contracts, this time starting in Seacliffs, where this bank-owned 4-bedroom, 3 1/2-bath, 2,051 square foot townhouse went under contract on Friday with a list price of $223,500. This unit previously belonged to the developer who lost it to the bank in early 2012. The county has it valued at $278,926. The gulf views from the top floor living level are fantastic.

Corner Lot on Cape San Blas Under Contract March 2013 with List Price of $25,900

We’re on the south side of the Cape for our next contract which is on a bank-owned corner lot in Surfside Estates listed for $25,900, well below the county’s assessed value of $45,000. The previous owners purchased it as part of a package deal of 9 lots in the subdivision for $108,000. The bank acquired it this past November.

Bank Owned Villa del Sol Lot at Cape San Blas Under Contract March 2013 with List Price of $33,800

In nearby Villa del Sol, our next contract is on another bank-owned lot, this one a 50′ by 92′, 0.11 acre lot that last sold in May 2005 for $550,000. It went under contract on Friday with a list price of $33,800, a good bit below the county assessment of $45,000.

Bay Front Lot on St. Joe Bay Under Contract Mar. 2013 with List Price of $139,900

Our fourth and final new contract takes us back out along C-30, this time heading north and stopping at the second subdivision on our left, Treasure Bay, where some savvy shopper penned a bid on this lovely bay front lot. It features 100′ of waterfront on the eastern shore of St. Joe Bay, encompassing 3.7 upland and bay bottom acres . The sellers have owned the property since mid-1996 when they purchased it for $42,000. Today the county has the land assessed at $110,000.

That does it for this week. The pace has definitely changed here in the past two months so if you’re interested in buying, it’s time to get in the game. I’m continuing to see increasing competition for properties. Call or text me at 850-227-5197 or shoot me an email to [email protected] and we’ll get started. Have a great week, and thanks so much for taking time to stop by today.

1 Comment on 'Cape San Blas Real Estate Week in Review – March 9-15, 2013':

Cyndy on 04/21/13:

Can you give mean update on villa del sol homeowners assoc? Do you know about covenants & restrictions? I see a lot is for sale there, do you know anything about it?

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