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Cape San Blas Real Estate Week in Review - Feb. 15-21, 2014

Published on February 22, 2014 by Sherri Dodsworth under Cape San Blas

Could winter finally be in our rear view mirror?  Our temps were back in the 70’s much of the week and it felt so good to enjoy being out in warm sunny weather again. Dorothy, I think we’re back in Florida. Our market heated up nicely as well, closing four sales and writing eight new contracts. Sellers listed seven new properties and changed prices on six others.  We ended the week with our inventory inching up by two, closing at 269, with 73 homes and 196 lots listed for sale in the Cape SAn Blas, Indian Pass and C-30 Corridor market MLS.  We have a good bit of territory to cover today so let’s get rolling.

Cape San Blas Gulf Front and First Tier lots in Seagrass Under Contract Jan. 2014 with List Price of $339,900

The first of this week’s four sales is located in the Sea Grass subdivision, where two lots were sold together as a combined sale with an asking price of $339,900. The listing was for both lots 5 and 10, combining a first tier lot with buildable area in the X-flood zone with about 80′ behind the CCCL which allows permitting through just Gulf County and not the Florida DEP and a gulf front parcel providing full access to the beach. Combining the width of the first tier lot with the extra 10′ of the gulf front lots’ easement, totals over 53′ of waterfront – one of the widest lots in Seagrass.  The parties went to closing on Wednesday with the buyer taking title for $320,000.

Cape San Blas Gulf Front Lot with Pilings Under Contract January 2014 with List Price of $99,000

Down on the southern end of the Cape San Blas peninsula by the rocks at Stumphole our next sale was a 50′ wide gulf front lot, this one with pilings and concrete driveway and pad in place. It was listed “As Is” for $99,000, and sold on Friday for $80,000.

Cape San Blas Interior Lot in Piney Woods Under Contract Jan. 18, 2013 as a Short Sale With a List Price of $21,900

We have another two-lot combo sale down on the south side of the Cape, these being two bank-owned  adjoining lots on McCosh Mill Road in Piney Woods subdivision. They’re irregularly shaped 0.20 acre X-zone lots three lots off Cape San Blas Road that were listed for $45,900. County records don’t record what the previous owner paid for them in 2005, but they have now sold for $35,000.

Gulf View Cape San Blas Townhouse Under Contract January 2014 with List Price of $249,000

About half a mile east on Cape San Blas road, our final sale is located in Cape Dunes, where with this 3-bedroom, 2 1/2-bath, 1,780 square foot gulf view home went under contract on January 23rd with a list price $249,000. This little gulf front neighborhood was built in the early 1980′s and some of the building permits were pulled early enough for the structures to be grandfathered for FEMA flood insurance coverage. The sellers have owned this home since early 1994 when they bought it for $68,900, and they sold it on Thursday for $223,000.

Interior Lot at Cape San Blas Under Contract Feb. 2014 with List Price of $49,900

We’ll start our review of this week’s crop of eight new contracts up on yhe north end of the Cape in Sunset Pointe with this quarter-acre lot that went under contract on Friday with a list price of $49,900, not too far off the $55,000 the seller paid for it in the summer of 2010. Prior to that it had sold in 2003 for $200,000, and then again in mid-2005 for $437,000.

Cape San Blas Interior Lot Under Contract Feb. 2014 with List Price of $33,500

Just outside the state park, tucked away behind popular Coneheads restaurant, our second contract is on the half-acre interior lot listed for $33,500. This seller ought to be fine, having owned it since 1993 when they picked it up for $11,500.

Ovation Bay Front Lot Under Contrat FEbruary 2014 with List Price of $79,900

Interest in Ovation remains strong with two contracts written there this week, the first of which is this half-acre parcel listed for $79,900. This is one of the lots sold during the developer’s deep discount sale in 2012 when this seller acquired it for $67,000.

Ovation Gulf Front Lot Under Contract Feb. 2014 with L ist Price of $215,000

Over on the gulf side of Ovation, this 0.40 acre gulf front lot went under contract Thursday with a list price of $215,000. In that same developer’s sale in 2012, they turned a number of similar gulf-front lots for $135,000 each. The seller bought this lot from the developer in 2005 for $1.275M.

Cape San Blas Interior Lot Under Contract with List Price of $80,000

We’ll head back down to the south side of the Cape for our fifth contract which is on a first tier gulf lot situated far back off the beach. It’s a bank-owned one-third-acre property measuring 53′ by 235′ and listed for $80,000.

Second Tier Gulf View Lot in Sweetwater Shores Under Contract February 2014 with List Price of $50,000

Money Bayou has been heating up lately, too, as our next two contracts reflect, both being lots in Sweetwater Shores. First up is this near-corner gulf second-tier 35′ by 87′ lot listed for $50,000. This is a great laid back little Old-Florida neighborhood.

Gulf View Lot on C-30 Under Contract Feb. 2014 with List Price of $$37,000

Almost directly across the street, our next contract is on a 70′ by 192′ lot listed for $37,00. This one has a long and interesting sales history, starting with the developer selling it in 1997 for $10,000, with those buyers turning it in 2001 for $25,000; those folks doubled their money the following year in 2002 for $52,200, and they then turned it yet again in 2005 for $225,000,

Indian Pass Lagoon Front Lot Under Contract February 2014 with List Price of $295,000

We’ll wrap things up out on Indian Pass where this 1.6-acre lagoon front lot went under contract last weekend with a list price of $295,000. The sellers purchased it in early $2005 for $164,500.

That does it for this week. We may have an abundance of lots still in the inventory, but the number of homes from which to choose has really come down, so if you’ve been thinking of buying a home at the beach now is a good time to start your search. I’ll be glad to help you with that, so call or text me at 850-227-5197, or shoot me an email to [email protected] .   I hope you have a wonderful week and thank you so much for taking time out of your busy schedule to stop by today.

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