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Cape San Blas Real Estate Week in Review - Aug. 24-30, 2013

Published on August 31, 2013 by Sherri Dodsworth under Cape San Blas

Local closing attorneys had an early holiday with just two closings, but Realtors were working hard, writing up six new contractsfour new listings, and lowered prices on eleven others.  We end the week with the inventory at 277, down two from last week, with 96 homes and 181 lots listed for sale in the MLS in the Cape San Blas, Indian Pass and C-30 Corridor market. With all those new contracts we have a fair amount of territory to cover so let’s get right to it.

Five Bank-Owned Townhouse Lots Sold Ausut 2013 for $80,000

The first of our two closings was on another group of bank-owned townhouse lots in Seacliffs on the north end of the Cape.   We’ve seen a number of these lot package closings here recently so maybe some new townhouses will start being build in the not too distant future. This batch was a total of five contiguous lots, each measuring 18′ by 60′ with an aggregate sale price of $80,000. The county has them assessed with a value of $45,000 each.

Road Front Lot on C-30 Under Contract July 2013 with List Price of $214,900

Our second sale is out on C-30, almost to the Franklin County line. One savvy shopper picked up the keys at closing to  this neat and attractive 3-bedroom, 3-bath, 1,722-square foot home built on a spacious 1.67-acre lot  in 1998. The sellers bought it in May 2001 for $170,000 and got it under contract with a list price of $214,900, but actually closed for slightly above that at $216,000.  The county has this one assessed at a low $145,960.

Cape San Blas Gulf Front Condo Under Contract August 2013 with List Price of $249,000

The first of our six new contracts takes us to the south side of the Cape to Dunes Club, a gulf front condominium built in 2004. Here a 3-bedroom, 2-bath, 1,176 square foot unit listed for $249,000. Back in 2005 the developer sold it for $440,000, and by 2009 it was bank-owned, and the current sellers bought it from them for $225,000, roughly equal to it’s current tax assessed value of $215,447.

Cape San Blas Bay Front Lot Under Contract August 2013 with List Price of $150,000

In this same vicinity over on the bay side, our next contract is on a bay front lot listed for $150,000. This 1.16-acre property measures 75′ by 675′ and includes the 500’+ walkover to the water seen here in this photo. This end of the bay is very shallow, best suited for kayaking on a good tide. The assessed value on this one is $116,600.

Bank-Owned Interior Cape San Blas Lot Under Contract August 2013 with List Price of $40,000

Back across the street and not far from my office, our next contract is on another bank-owned property, this one a little interior lot measuring 55′ by 75′ listed for $40,000, exactly twice its $20,000 assessed value. Quite a far cry from the $77,400 it sold for in 2011.

Money Bayou Gulf Front Lot Under Contract August 2013 with List Price of $229,000

We’re heading off the Cape again, travelling east on C-30 over to Money Bayou to this 50′ wide gulf front lot on Sweetwater Shores Drive which went under contract on Monday with a list price of $229,000. Back in 1997 this beautiful lot sold for $89,800 and those owners sold it in December 2003 for $540,000.

Treasure Shores First Tier Lot Under Contract August 2013 with List Price of $99,900

In nearby Treasure Shores our fifth contract is on a quarter-acre first tier lot measuring roughly 140′ by 79′. It went under contract at the beginning of the week with a list price of $99,900, pretty close to the $89,000 the sellers paid for it in November 2000, especially in inflation-adjusted dollars. The county has it pegged at $75,000.

Indian Pass Gulf Front Lot Under Contract August 2013 with List Price of $198,000

Our sixth and final contract is on another gulf front lot, this one a 58′ wide Indian Pass parcel that went under contract on Monday with a list price of $198,000. Interesting sales history on this one with it having sold in June of 2004 for $589,000 then again  just four months later in October 2004 for $825,000.  Today the county has its tax assessed value at $184,306.

We’ve covered affair amount of territory today. If you want to get in on the action either buying or selling, call or text me at 850-227-5197 or send me an email to [email protected].  I hope you enjoy great times with family and friends this holiday weekend – I’m staying here at the Cape to enjoy all the sunny skies they’re forecasting. Looking forward to hearing from you soon –  I really appreciate your taking time out of your schedule to stop by today.

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