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Cape San Blas Real Estate Week in Review - March 28-April 3, 2015

Published on April 6, 2015 by Sherri Dodsworth under Cape San Blas

For Sale and SoldWe have a lot of visitors here for the holiday weekend, but sales certainly haven’t taken a holiday, as we closed nine sales and wrote four new contracts, listed twelve new properties and trotted out six price changes. Even with all that activity our total inventory remains unmoved, closing the week once again at 237, with 85 homes and 152 lots listed for sale in the Cape San Blas, Indian Pass and C-30 Corridor market.

Cape San Blas Townhouse Under Contract Feb. 2015 with List Price of $199,500

We begin our review of our nine sales where we so often do on the north end of the Cape in Barrier Dunes where this 2-bedroom, 2-bath, 1,377-square foot interior townhouse on Parkview Court went under contract in late February with a list  price of $199,000. The sellers bought it from the developer shortly after it was built in 2004 for $199,500, and sold it on Wednesday for $184,000. Cape San Blas First Tier Lot Under Contract February 2015 with List Price of $350,000

Seagrass is a pleasant little subdivision of attractive beach homes about half way between Cape Palms Park and the Tradin’ Post. There have been permitting issues with the gulf front lots in the past, so the first tier lots fetch quite a nice premium. This next sale is a 46′ by 202′ first tier lot with some “X” zone under contract since the first week of February with a list price of $350,000, the price it also sold for on Wednesday.

Cape San Blas Gulf Frnot Townhouse Under Contract Feb. 2015 with List Price of $279,900

Our third sale  is down near the rocks at Stumphole. Just last week, buyers negotiated a deal on this 3-bedroom, 2 1/2-bath, 1,360-square foot gulf front townhouse also listed “As Is”.  The sellers paid $280,000 for it in mid-2007, did what was described as a “down to the studs renovation”, yet put it under contract with a list price of $279,900. On Tuesday they let it go for $259,000.

Interior Lot at Jubilation at Cape San Blas Under Contract March 2015 with List Price of $50,000

Our fourth sale takes us down to the south side of the Cape to Jubilation where we have a 53′ by 70′ interior lot under contract with a list price of $50,000. Eleven years ago in late 2004 it fetched $360,000, but times change and on Monday it closed for $44,900. Cape San Blas Interior Home Under Contract February 2015 with List Price of $349,900

Our next sale is in nearby Piney Woods where this 4-bedroom, 3 1/2-bath, 1,800 square foot interior home built just last year on McCosh Mill Road went under contract last month with a list price of $349,900. The sellers purchased the lot alone in mid-2005 for $399,000, and on Thursday sold the home for $345,000.

Cape San Blas Gulf View Home Under Contract February 2015 with List Price of $268,000

Not far away is Cape Dunes, one of the original communities on the Cape platted in the early ’80’s.  A family looking for a private beach retreat thought this extremely well-maintained private second home was a perfect fit for them. They put a contract on this 2-bedroom, 2 1/2-bath, 1,740 square foot home circa 1984 with a list price of $268,000 the first week of February, and happily received the keys at closing on Friday for $260,000.

Gulf Front Home in Gulf Pines Near Cape San Blas Under Contract February 2015 with List Price of $999,000

We’ll leave the Cape and head east along C-30 stopping first into Gulf Pines where this spacious 4-bedroom, 3-bath, 3,576-square foot gulf front home went under contract February 6 with a list price of $999,000. This 1986 home, situated on 100′ of beautiful gulf waterfront, was purchased by the seller’s family in late 1995 for $319,000.  It has an in-ground pool overlooking the gulf, and last year generated $127,000 in gross rental income. On Thursday it sold for $915,000.

Cape San Blas Interior Lot Under Contract January 2015 with List Price of $45,000

Our eighth sale is a funky little first tier home in Indian Pass Beach subdivision.  This 3-bedroom, 2-bath, 1,000 square foot “X” zone home was built in 1993.  The sellers bought it in 2006 for $450,000, and put it under contract on Valentine’s Day with a list price of $349,000. It sold on Tuesday for $335,000.

Indian Pass Beach Cottage Under Contract January 2015 with List Price of $349,900

Our ninth and final sale takes us to this 3-bedroom, 2-bath, 1,368 square-foot gulf view home on Osceola Avenue in Indian Pass Beach Subdivision built in 1993. This little subdivision was platted and recorded in 1952, so it was grandfathered when the CBRA law was passed and the community is eligible for FEMA flood insurance. The sellers bought the home back in mid-2002 for $239,000, did a wonderful renovation and put it on the market in September 2004 for $795,000. Unfortunately, that was the same time our market peaked and sales slowly ground to a near-halt over the next couple of years, along with declining values. They adjusted that list price along the way, and finally got it under contract at the end of January with a list price of $349,900.  On Thursday they turned over the keys at closing for $322,500.

Cape San Blas Gulf Front Lot at Secluded Dunes Under Contract April 2015 with List Price of $900,000

And now on to our four new contracts, returning to the northern end of the Cape in Secluded Dunes where this 115′ by 271′ gulf front lot went under contract Thursday with an asking price of $900,000. If it looks a bit familiar, that may be because the sellers bought it back in September for $750,000.

Cape San Blas Jubilation Lot Under Contract with List Price of $37,900

We’re back down on the south side of the Cape again in Jubilation where this 50′ by 107′ foot lot attracted a buyer with its $37,900 price tag.   The sellers here ought to realize a nice return having picked it up in a fire sale two years ago for a mere $7,100.

Cape San Blas Interior Lot at Jubilation Under Contract Arpil 2015 with LIst Price of $37,900 Cape San Blas Interior Lot at Piney Woods Under Contract April 2015 with LIst Price of $119,900

More action in Piney Woods, where buyers penned a deal on this 131′ by 58′ “X” zone interior lot sporting a $119,900 price tag. Piney Woods is a nice little subdivision, and the HOA fees are very reasonable, currently at just $750 per year.

Cape San Blas Gulf Front Condo Under Contract April 2015 with List Price of $349,000

We’ll wrap things up with this gulf front condo at The Club at Cape San Blas. These are absolutely lovely units, with gleaming antique pine floors. Someone snapped up a 3-bedroom, 2-bath, 1,440 place with an asking price of just $349,000.

And that will do it for today. I have rarely ever posted to my blog as late as Monday but I have just been working non-stop with terrific buyers and sellers this past week and there haven’t been enough hours in the days to complete every item on my “To Do” lists. It’s all good. If you want in on the action, call me! 850-227-5197 or drop a note to [email protected] I hope to hear from you soon, and really appreciate your taking time to stop by today.

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