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Cape San Blas Real Estate Week in Review - Feb. 1-7, 2014

Published on February 8, 2014 by Sherri Dodsworth under Cape San Blas

And the hits just keep on coming!  Last Sunday’s Super Bowl set the mood for the week as buyers snapped up some really great real estate and scored some terrific deals.  Five properties closed, and five others penned new contracts. Sellers wrote up six new listings, (four of which have already closed), and five others ran with new price tags. We nibbled away a bit more at our inventory closing down by two at 267, with 75 homes and 192 lots listed for sale in the Cape San Blas, Indian Pass, and C-30 Corridor MLS.  We’ve got a lot of territory to cover today, so let’s get rolling.

Cape San Blas Gulf Front Lot Under Contract Jan. 2014 with List Price of $298,000

We’ll start our review of this week’s five sales at the Cape’s newest subdivision, Rosemary Dunes, located just off Hartley Lane, not far from the south end of Hibiscus Beach. Here, the last of three gulf front lots in this community went under contract just two weeks ago with a list price of $298,000. Some happy buyer picked up title to this  55′ by 27′ , 0.6-acre X-zone beauty on Friday for $250,000.

Cape San Blas Gulf Front Home Under Contract Jnauary 2014 with List Price of $599,900
Our second sale is this handsome 3-bedroom, 2 1/2-bath, 1,920 square foot gulf front home on Haven Drive that went under contract in mid-January with a list price of $599,900. It is situated on 55′ of gulf waterfront, and sold in April 2003 for $705,000.  This time around it went for $565,000.
Large Bay Front Lot on Cape San Blas Sold Feb. 2014 for $260,000
Our next sale is a large bay front lot just south of Scallop Cove. This 100′ by 861′, 1.92-acre sale was entered into the MLS as a sale on Friday when it closed. The seller has owned it for a very long time so the property appraiser’s office isn’t showing any pertinent prior sales data.  The parties agreed to a price of $260,000.

Cape San Blas Bay View Lot Under Contract January 2014 with List Price of $39,000

For our fourth sale, we’ll head on down to the south side of the Cape in Eventide to this quarter-acre bay view lot that went under contract three weeks ago with a list price $39,000. The seller purchased it with several other lots in the subdivision in 2000, paying $85,000 for the bunch. They offered owner financing, and closed this week for $25,000.

Bank-Owned Money Bayou Second Tier Lot Under Contract Feb. 2013 with List Price of $22,000

We’ll travel east on C-30 over to Sweetwater Shores in the Money Bayou area for our fifth and final sale, a 68′ by 195′, third-acre, second tier lot that was listed for $39,000, less than 10-cents-on-the-dollar of its December 2004 sale price of $225,000. As was not uncommon in that time period, it had sold the year prior in early 2003 for $100,000.  The current sellers picked it up just last March for $21,000, and turned a nice little profit on Wednesday, settling for $37,000.

Gulf View Home at Money Bayou Under Contract February 2014 with List Price of $259,900

Unusual week in that none  of our five new contracts are on the Cape.  First up is this 2-bedroom, 2-bath, gulf view, Key-West style home in Money Bayou that went under contract on Wednesday with a list price of $259,900.

Three Contiguous Lots on Indian Pass Lagoon Under Contract Feb. 2014 with LIst Prices of $39,900 each

These next three contracts are on contiguous lots fronting Indian Pass Lagoon on C-30 about 2 miles past the Indian Pass Raw Bar. This is another instance of an agent matching up a buyer with a particular property that wasn’t actively on the market, but who knew the owner had expressed an interest in selling. Each lot has 80′ of water front, about 400′ deep, for an aggregate total of roughly 2 acres with 240′ on the lagoon.  They were entered into the MLS with a list price of $39,900 each.

Bank-Owned Gulf Front Lot Under Contract February 2014 with List Price of $87,000

We’ll wrap things up today out near the eastern tip of Indian Pass Peninsula, where this bank-owned lot went under contract with a listing price that was recently dropped to $87,000. Though it’s technically a gulf front lot, its irregular shape is such that the buildable area is far back toward the street with the actual gulf front portion being too narrow to allow for a practical foot print. It last sold in mid-2010 for $250,000.

That’s a wrap for this week. Still lots going on so why not get in on the action? If you’re thinking of buying or selling, I’d love to hear from you. Call or text me at 850-227-5197, or write to me at [email protected].  Until then, have a great week, and thanks for taking time to stop by today.

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