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Cape San Blas Real Estate Week in Review - Oct. 19-25, 2013

Published on October 26, 2013 by Sherri Dodsworth under Cape San Blas

When the weather is so gorgeous outside, trying to stay focused on work is nearly impossible. October is my absolute favorite month here on the Cape as the weather is cooler and dryer, and the beaches quieter.  We had a fairly quiet week, too, closing only three sales and writing up but one new contractThree new listings came on the market, and two sellers changed their prices.  Our inventory took a slight dip, closing down by three at 273, with 84 homes and 189 lots listed for sale in the Cape San Blas, Indian Pass, and C-30 Corridor MLS.

Cape San Blas Gulf Viw Lot Under Contract as Short Sale with List Price of $34,900

We’re beginning our review of this week’s three sales on the south side of the Cape in Jubilation, where this 47′ by 84′ lot went under contact last December as a short sale for $34,900, well below the county’s assessed value of $45,000. On Friday they finally closed the deal for $33,000 cash, less than ten cents on the dollar for its 2005 sale price of $390,000.

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

The first of our two sales 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 went under contract in mid-August with a list price $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. On Monday it sold for $240,000.

Gulf Front HOme in Gulf Pines Under Contract September 2013 with List Price of $999,999

We’re heading off the Cape over to Gulf Pines to this beautifully appointed 4-bedroom, 4-bath, 2,100 square foot luxury gulf front home situated on 100′ of beach front for our other sale. The sellers bought it in early 2002 for $650,000 and have added many impressive upgrades to it since then.  They had it listed for $999,999, and on Monday accepted $855,000 cash at closing.   Here’s what this beautiful home has to offer:

The kitchen is equipped with double sinks, granite countertops, & top of the line appliances (including ice maker, double oven, wine cooler, & steamer).The kitchen, living room and dining room all open up to a fantastic deck. The master bedroom & bathroom are located off of the living area & include a large shower, double vanity & handpicked imported Italian tile. On the west side of the home are 2 additional bedrooms, bathrooms & large office. Located downstairs is an additional living space complete with kitchen, living area, & bathroom-perfect for large families, investors, or for a mother-in-law suite. The incredible outside area is ideal for any cookout.
Cape San Blas Gulf Front Townhouse Under Contract with List Price of $289,000

Back on the Cape at Cape Shoals, our solo new contract is on a gulf front 2-bedroom, 2 1/2 bath, 976 square foot townhouse listed for $289,000.  The sellers bought it in the summer of ’06 for $287,500 and have done a lot of upgrades on it since then: the interior has had a face lift with new flooring, paint, new kitchen cabinets, countertops and appliances, and new furnishings. There are contingencies to be met so we’ll have to wait a while to see what it sells for.

That’s a whirlwind wrap for the week. Still lots of great opportunities available so if you’re thinking that now may be the time for you to secure yourself a place here on the coast, let me know. Call or text me at 850-227-5197 or shoot me an email to [email protected] .  Have a great week and thanks so much for taking time to stop by today.

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