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Cape San Blas Real Estate Week in Review - Sept. 14-20, 2013

Published on September 21, 2013 by Sherri Dodsworth under Cape San Blas

For Sale Sold SignWe had quite The End of Summer Sale this week with mega-action, closing a whopping ten sales and writing up six new contractsTen new listings were added to the inventory, and eight sellers changed their prices.  With all that activity, our inventory took a teeny dip, closing down three from last week at 269, with 91 homes and 178 lots listed for sale in the Cape San Blas, Indian Pass and C-30 Corridor market.  We have a lot of territory to cover today, so make yourself comfortable and let’s see who got what.

Six Bank-Owned Seacliffs Lots Under Contract August 2013 with List Price of $111,900

The first of this week’s ten sales is up on the north end of the Cape in Seacliffs, where a batch of six bank-owned townhouse lots went under contract in early August  with an aggregate price of $111,900, or $18,650 each.  They closed last Friday for $80,000, or $13,333 each, quite a far cry from the county’s assessment of $45,000 each for an aggregate value of $270,000.  This sale was entered into the MLS last weekend after I had already posted my blog.

Cape San Blas Gulf View Townhouse at Barrier Dunes Sold September 2013 for $260,000

Just next door in Barrier Dunes, our second sale is a nicely renovated 2-bedroom, 2-bath, 1,337-square foot townhouse with lovely gulf views that was listed for $289,000. The sellers bought it in the summer of 2005 for $510,000, and have updated it very nicely. They first listed it in late 2008 for $350,000, but the market wouldn’t meet them, and on Wednesday they handed over the keys at closing for $260,000.

Cape San Blas Road Front Lot Under Contract August 2013 with List Price of $74,900

In San Blas Shores, one of the oldest subdivisions on the Cape, adjacent to the north side of the gulf side of Ovation, our next sale was a 105′ deep by 53′ wide, 0.12-acre lot on Cape San Blas Road that went under contract the first week of August with a list price of $74,900, almost double the county’s assessment of $40,000. This time it went for $72,500.

Cape San Blas Gulf View Home Under Contract July 2013 with List Price of $459,000

We’ll head about a two miles down the road to Seagrass for our next two sales, starting with a very nice 4-bedroom, 3-bath, 2,072-square foot gulf view home listed for $459,000. This home is entirely in the X zone. The sellers bought it in mid-2005 for $774,567,  and today the county has it assessed for $322,567.  On Monday the buyers picked up the keys at closing for $439,000.

Seagrass Lot Under Contract July 2013 with List Price of $81,000

Just around the corner  is a gulf-view lot in Seagrass that was listed for $81,000, which is exactly what it sold for this week. The sellers purchased the 124′ wide by 88′ deep, quarter-acre lot in January 2004 for $215,000.

Gulf View Pre-Construction Cape San Blas Home Under Contract July 2013 with LIst Price of $339,000

We have a truly interesting variety to review today and keeping with that trend this next sale is a pre-construction gulf-view home on Sugar Loaf Lane in the vicinity of Scallop Cove. When finished it will be a 4-bedroom, 3-bath, 1,650 square foot home located in the “X” zone. The contractor had it listed for $339,000 and sold it Tuesday for $330,000.

Home on C-30 Under Contract July 2013 with List Price of $99,900

Leaving the Cape for the first time today we’ll head north on C-30 towards Port Saint Joe stopping at this little 900-square foot, 2-bedroom, 2-bath home we saw last summer when the owners bought it from the bank for $45,000 as a bona-fide fixer upper. They’ve done quite a bit of renovations on it since then and listed it for $99,900, and turned over the keys this week for $85,000.

View From Bay View First Tier Lot Under Contract September 2013 with List Price of $39,900

We’ll continue on C-30 for our next two closings, stopping first in Treasure Bay Subdivision where this half-acre, first tier bay view lot went under contract just last week with a list price of $39,000. This is the view of the bay. The sellers bought it in April 2003 for $90,000, the county has it assessed at $25,000, and it sold  on Tuesday for $32,000.

First Tier Lot Under Contract May 9, 2012 with List Price of $140,000

Our next sale is a first tier lot with this lovely gulf view located in a little subdivision on C-30 called Curve at the Cape, which is the first project on your right after leaving the Cape and heading towards the Raw Bar. The sellers bought it in June 2012 for $125,000 and had it listed for $142,000 and sold it on Thursday for $118,000.

Bank-Owned Gulf View Lot on C-30 Corridor Near Cape San Blas Under Contract Sept. 2013 with List Price of $22,500

We’ve arrived at our tenth and final sale which is just across the street in Waters Edge. Capital City Bank had this gulf view lot fronting C-30 that went under contract on the 3rd of September with a list price of $22,500.  Cash talks and on Thursday they let it go for a mere $15,000, quite a far cry from the $129,000 it last sold for in April 2003. The county has it valued at $50,000. Waters Edge features a community pool, tennis courts, and easy deeded beach access. FEMA flood insurance is also available.

Cape San Blas Gulf Front House Under Contract September 2013 with List Price of $549,999

We’ll head back to the Cape to review our six new contracts, beginning with this 4-bedroom, 3 1/2-bath, 2,100 square foot home situated on 50′ of gulf front on Sugar Loaf Lane, which is the same street our earlier pre-construction sale is located as well. The sellers bought it in May 2004 for $700,000.

Cape San Blas Gulf Front Cottage Under Contract September 2013 with List Price of $399,000

Just a little south of Scallop Cove, someone penned a contract on this gulf front 900-square foot, 2-bedroom, 2-bath beach cottage listed for $399,000.  It was built around 1983 but is fixed up really cute inside. The sellers picked it up in the summer of ’06 for $430,000.

Cape San Blas Gulf Front Home Under Contract September 2013 with List Price of $745,000

A block further south, we have another gulf front home under contract, this one a 4-bedroom, 3-bath, 2,165 square foot model situated on 80′ of sandy bright gulf front.  This one sold in early 2005 for $1.775M but eventually found its way to the office of the County Clerk who sold it in June 2012 for $244,308. The new owners have fixed it up really nice, added great new furnishings, painted the exterior, etc., and now have it under contract with a list price of $745,000.

Bank-Owned First Tier Lot at Cape San Blas Under Contract September 2013 with List Price of $90,500

Down to the south side of the Cape now to Piney Woods subdivision where Capital City put another one of their lots under contract, this one a 65′ by 83′ first tier lot they have listed for $90,500. They acquired it in late 2010 with a recorded price of $21,000,  about 5-cents on the dollar of the $400,000 the developer sold it for in 2005.

Cape San Blas Gulf Front Lot Under Contract September 2013 as Short Sale with List Price of $275,000

Further east on Cape San Blas Road, our next contract is on a gulf front 2.06-acre parcel, roughly 60′ wide by 1500′ deep, listed as a short sale for $275,000. According to county records, it last sold in September 2003 for $850,000, but that may have been part of a negotiated deal that included some of the adjacent land as a development which never came to fruition was planned for the property.

Gulf View Lot at Indian Pass Under Contract Sept.2013 with List Price of $84,900

We’re finally heading over to Indian Pass for the very first time today, on out towards the tip to Indian Pass Beach subdivision, where somebody had their offer accepted on a 75′ by 105′ gulf view lot listed for $84,900. This is a fun little neighborhood, with no HOA fees, and all FEMA eligible lots.

What a marathon! We managed a near record number of transactions for the six years I’ve been writing this.  There were some great deals snapped up this week so if you’ve been toying with the idea of buying it’s time to get in the game. I’ll be glad to help you find property that’s just right for you. Call me or text me on my cell, 850-227-5197, or shoot me an email to [email protected].  Either way, I look forward to hearing from you. Have a terrific week, and I thank you so much for stopping by today.

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