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Cape San Blas Real Estate Week in Review - Nov. 16-22, 2013

Published on November 23, 2013 by Sherri Dodsworth under Cape San Blas

Buyers were apparently busy making holiday travel plans as we had a pretty quiet week, closing three sales, but writing only one new contract. Sellers were a bit more active, listing five new properties and changing prices on four others. As you would expect with all those new listings and so few contracts, our inventory grew, closing up by five at 273, with 82 homes and 191 lots listed for sale in the Cape San Blas, Indian Pass and C-30 Corridor MLS market.

Cape San Blas Gulf Front Home Under Contract September 2013 with List Price of $597,500

The first of our three sales takes us to Haven Road on the Cape where this 4-bedroom, 2-bath,2,016-square foot gulf front home went under contract in late September with a list price of $597,500. The sellers bought the lot in mid-2000 for $240,000, basically what it would go for today, 13 years later. On Tuesday, the buyers picked up the keys at closing for $532,500.

Gulf Pines First Tier Home Under Contract Nov. 2013 with List Price of $459,000

We’ll leave the Cape and head out onto the C-30 Corridor for our next two sales, stopping first in Gulf Pines where this neat and trim first tier 3-bedroom, 2 1/2-bath, 1,712 square foot beach cottage went under contract only two weeks ago with a list price of $459,000. The sellers picked it up as recently as January 2012 for $310,000, and sold it on Wednesday for $355,000.

Gracie O'Malley's Restaurant in Simmons Bayou Under Contract Oct. 2013 with List Price of $385,000

Our third and final sale is a bit of a change of routine for us since we don’t see commercial properties very often in our area. Out on C-30 in Simmons Bayou, Gracie O’Malley’s restaurant, which closed several months ago, went under contract at the end of October with a list price of $385,000, down considerably from its previous list price the last time it was on the market in 2009 with an asking price of $895,000. Here’s the MLS description of the property:

“Waterfront restaurant on Florida’s “Forgotten Coast”. With seating available for 90 guests inside or room for everyone on the 3000 sq. ft deck, this TURN KEY operation is in the best location and priced to sell! Overlooking 122 ft. of frontage on pristine St Joseph Bay this is the perfect setting for a romantic dinner for two or lunch for the entire family. 1BR/1BA living quarters on site, ample parking, ADA accessible, functional kitchen, tables/chairs, all fixtures, all furnishings, fully operational 12 tap bar, elevator, Point of Sale touch face system and more”.

The sale closed on Friday with the seller accepting $355,000 for it.  I’m really looking forward to seeing what the new owners have in store for the place as it’s a lovely setting with a great deck overlooking the bay.

Jubilation Lot Under Contract Nov. 2013 with List Price of $45,000

Now onto our one and only new contract, an interior lot on the south side of the Cape in Jubilation. Here’s another resale of a somewhat recent purchase, with the sellers having picked it up as a bank sale in August 2010 for $50,000. Back in 2004 it  sold for $273,000. They have it under contract with a list price of $45,000, which is also the property appraiser’s assessed value.

That does it for this week. If you’re interested in finding our more about property here on the coast or if you’re considering selling, I’ll be glad to help. Please call or text me at 850-227-5197 or shoot me an email to [email protected].  Have a wonderful Thanksgiving with family and friends and thank you so much for stopping by today.

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