Your are now entering a Deflate-Gate-Free-Zone where for the time it takes you to peruse this post you will not be subjected once to the apparently critical pressing issue of deflated footballs. NO such deflation here, just a rallying real estate market, in which we had two closings and four new contracts. Sellers added eight new listings, and changed prices on five others. With all that, our inventory rose just a little, closing the week at 257, with 88 homes and 169 lots listed for sale in the Cape San Blas, Indian Pass, and C-30 Corridor market.
The first of this week’s two sales is a circa 1986 2-bedroom, 2 1/2-bath, 1,120 square-foot unit in Cape Shoals, a complex adjacent to the north side of Cape Palms Park. The sellers have owned it since mid-2001 when they purchased it for $190,000 and put it under contract late last month with a list price of $259,900, and sold it on Friday for $205,000, with the buyer paying for the title insurance and $1,000 of the Seller’s closing costs.
We’ll travel down to the south side of the Cape to Jubilation where our second sale is this bank-owned gulf view lot that went under contract two weeks ago with a list price of $60,000. The previous owners bought the diminutive 50′ by 80′ lot in December 2004 for $435,000, and the bank closed it on Tuesday for $54,000.
There was a lot of interest in the first of this week’s four new contracts. This bank-owned 3-b3edroom, 3-bath, circa 1997 gulf view home on Cape San Blas Road near Cape Palms Park went up for auction last Saturday with a list price of $232,500. The auction ended on Wednesday with the final bid coming in at $381,000, with bids having been allowed in $3,000 increments. Homesearch.com has been doing a number of these auctions around here recently, all of which have been subject to the following terms:
- A buyer’s premium equal to the greater of 5% of the winning bid amount or $2,500 will be added to all winning bid amounts that will determine the total purchase price
- Property is being offered “AS IS, WHERE IS”
- There are no inspection or financing contingencies
- An Earnest Money Deposit of 3% of total purchase price or $3,000 (whichever is greater) is required
- Buyer will receive a Special Warranty Deed (SWD) or equivalent.
Our second contract is on Cozumel Drive just a little south of the The Tradin’ Post. On Monday buyers submitted an accepted contract on this 115′ by 120′ one-third acre “X” zone gulf view lot listed for $79,900. The sellers have owned it since 1998 when they bought it for $25,000,
Our third contract is about a half mile further south where we find this 3-bedroom, 3-bath, 1,958 square foot gulf view home “X” flood zone home on Cape San Blas Road under contract on Thursday with a list price of $399,900. The Sellers bought it in late 2009 for $410,000.
Our fourth and final contract takes us to the south side of the Cape to one of the few Condominiums in our area, The Club at Cape San Blas. Buyers were sold on this 3-bedroom, 2-bath, 1,415 square foot unit listed for $379,000. This top floor home last sold in late 2008 for $450,000.
Well, that’s a wrap for this week. I’m starting to list properties in gearing up for spring visitors, so if you’re considering selling by all means, give me a call or text me at 850-227-5197 or email at [email protected]. If you’re interested in learning more about properties here along the coast, let me know. I hope wherever you are you have a pleasant, warm and dry weekend. Thanks so much for stopping by today.