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Cape San Blas Real Estate Week in Review - Oct. 5-11, 2013

Published on October 12, 2013 by Sherri Dodsworth under Cape San Blas

The government slow down couldn’t shut down our real estate as buyers kept right on buying. We closed three sales and wrote up three new contracts, listed ten properties and changed prices on six others.   Our listing inventory swelled by six, closing the week at 268, with 85 homes and 183 lots listed for sale in the Cape San Blas, Indian Pass, and C-30 Corridor MLS. Let’s take a look at what buyers are snapping up.

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

The first of our three sales is a gulf front 2.06-acre parcel, roughly 60′ wide by 1500′ deep, that went under contract  in mid-September as a short sale with a list price of $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. On Monday it closed for that full list price of $275,000.

Indian Pass Gulf Front Lot Under Contract June 2013 as Short Sale with List Price of $198,000

We’re heading over to the Indian Pass area for our next two sales. This photo clearly shows this gulf front lot’s location right at the first curve as you drive on to the peninsula. It’s on Painted Pony Road, not in a subdivision, and was listed as a short sale for $198,000, with the sellers having paid $750,000 for it in October 2004. The county has it valued at $160,000,  pretty close to the $170,000 the bank approved the sale for on Thursday.

Lagoon Front Lot Near Indian Pass Under Contract October 2013 with List Price of $29,900

We’ll wrap things up with a contract on this lagoon-front lot on C-30 east of the Indian Pass Raw Bar.  The seller bought the property back in January from Bank of America for an unbelievably low $13,900, quite a change from the summer of 2004 when  it went for $230,000.  The county has it assessed at $20,750. It went under contract just last week with no contingencies to be met so on Wednesday the parties closed for $23,500.

nterior Lot at Cape San Blas Under Contract Oct. 2013 with List Price of $34,700

For our crop of three new contracts we’re travelling back to the Cape up to the northern end to Sunset Pointe where an interior lot went under contract on Thursday with a sticker price of $34,700.  The company selling it acquired it from the Gulf County Clerk back in May with a recorded price of $20,200. This contract also has no contingencies to be met so it, too, should close pretty quickly.

Gulf Front Home Near Cape San Blas Under Contract Oct. 2013 with List Price of $539,900

That’s it for the Cape, today – we’re back out on C-30 for our next contract, which is on this handsome 4-bedroom, 5-bath, 2,341 square foot gulf front home in Waters Edge. The sellers bought the home in May 2003, and have it listed for $539,900.  It’s not homesteaded, so I don’t know why the county has it assessed really low at $261,535.

Bay View Home on St. Joe Bay Under Contract Oct. 2013 with List Price of $19,500

We’ll head north on C-30 travelling back in the direction of Port St. Joe for our final contract which is on this 200′ by 200′ half -acre bay view lot offered for $19,500. It’s not listed as a short sale even though the sellers paid $120,000 for it in early 2004.  The county has this one valued more in line with actual comps at $18,000.

That does it for today. Great values are still to be had here along the coast, and if you’d like to have a wonderful piece of this paradise to call your own, let’s get together and see what we can find. Call or text me at 850-227-5197 or send me an email to [email protected] and we’ll get started.  Have a great week, and thanks so much for stopping by today. Hope to hear from you soon.


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