Halloween goblins didn’t scare off our buyers this week as we closed six sales, and wrote up two new contracts. Sellers listed four properties and changed the prices on five others, two of which are price increase. We shaved five off of our inventory, closing the week at 257, with 80 houses and 177 lots listed for sale in the Cape San Blas, Indian Pass and C-30 Corridor markets. Let’s see what kinds of treats our buyers and sellers found.
We’ll begin our review of this week’s six sales up in Secluded Dunes. A Realtor was working with a buyer who wanted a lot in this neighborhood, but none were currently listed. She checked with the owner of this lot who said they’d be willing to sell it for $395,000 which the buyers agreed to, and voila! The parties went to the closing table and closed for $395,000. It never hurts to ask.
Seagrass was a popular place this week as its the site of our next two sales. First up is this attractive 4-bedroom, 4-bath, 2,162 square foot home under contract since the first week of September with a list price of $449,000. This vacation rental home has awesome gulf views, even though it sits five lots back from the beach. It has a nice pool, and is in the “X” zone. On Friday it closed for $425,000; the lot alone sold in early 2005 for $432,000.
Our second Seagrass closing is a bank-owned first tier lot under contract since mid-September with a list price of $147,000. All of the lots in this subdivision are in the “X” zone, and all have deeded gulf access. In January of 2004 this property sold for $225,000, and those folks sold it a year later for $650,000. This time around it went for $140,000.
Our next two sales are both down on the south side of the Cape, on McCosh Mill Road in Piney Woods, beginning with a gulf front lot under contract as a short sale with a list price of $250,000. This 1+ acre lot has roughly 57′ of waterfront and depth of about 890′, with X zone, and sold for $700,000 back in May 2005. As far as short sales go, it closed pretty quickly, the opening offer having been submitted at the end of July; this week the bank finally gave its stamp of approval and the new owners took title to their beach dream on Friday for $220,000 cash. This lot is going to make an absolutely lovely beach front home site for them.
The other PIney Woods sale is an interior lot near the beginning of McCosh Mill Road. Back in February, this seller bought this and the adjacent lot for $35,000 from a bank. He listed this one two months later for $35,000, then raised the price shortly thereafter to $39,000, and had it under the first week of October. He realized a nice return on investment closing this week for $35,500.
Our fifth and final sale takes us out onto C-30, heading north along the Scenic Corridor through Treasure Bay to this 103′ by 220′ lot that went under contract in early September as a short sale for $39,000. The owners bought it in the summer of 2004 for $187,000, and prior to that it had sold in 1990 for $9,600.On Thursday it sold for $27,500 cash.
The first of our two new contracts is a 3,666 square foot, 5-bedroom, 4 1/2-bath gulf front home in Cape Isle Preserve down near the rocks at Stumphole. It’s listed for $699,000; in 2004 the lot alone sold for $650,000.
Our other contract is in idyllic Indian Summer at Indian Pass. It’s a short sale first tier lot measuring 68′ by 170′ listed for $69,000. The sellers bought it in late 2004 for $415,000. This is such a pretty and peaceful little subdivision tucked away off the curve at Indian Pass Road.
So that means we’re officially wrapped up for the week then. I’m heading over to Apalachicola for the afternoon to enjoy the Florida Seafood Festival which as always should be a lot of fun, especially as nice as the weather is today; cool, clear and breezy, with an afternoon forecast high of about 60. Planning on enjoying some great seafood and good times with old friends. If you’re in the area, hope to see you there. If you’re interested in info on joining us here on the coast as either a full-time or part-time “Caper”, give me a call or text me at 850-227-5197 or shoot an email to [email protected] . Looking forward to hearing from you. Have a great week and thanks so much for taking time to stop by this afternoon.