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Cape San Blas Real Estate Week in Review - August 1-7, 2015

Published on August 8, 2015 by Sherri Dodsworth under Cape San Blas

For Sale Sold SignWe got welcome news around here this week: Verizon actually started building the long-rumored cell tower near the entrance to the Cape on the Lighthouse Utilities property about a block or two west on C-30 from Cape San Blas Road.  We might actually start having decent cell service!  What a concept.  They expect to have it completed in about three weeks. More welcome news is that our healthy market carried right along, closing six sales, writing up five new contracts, adding seven new listings, and changing prices on eleven others. We whittled away two from our inventory, closing the week at 263, with 83 homes and 180 lots listed for sale in the Cape San Blas, Indian Pass and C-30 Corridor market. Let’s take a look at what we managed to move.

Barrier Dunes X Zone Townhouse Under Contract July 2015 with List Price of $269,000

The first two of this week’s six sales are up in Barrier Dunes, starting with this 2-bedroom, 2 1/2-bath, 1,377 square foot circa 1990 townhouse which is one of a very few homes in this complex located in the X flood zone. The sellers bought it in early 2006 for $364,000, and sold it this week for their full list price of $269,00.

Barrier Dunes Parkside Townhouse Under Contract July 2015 with List Price of $187,000

Over on Parkside buyers closed on this 3-bedroom, 3 1/2-bath, 1,172-square foot townhouse built in 1985.  The sellers bought it in 1999 for $78,900, had it listed for $187,000, and turned over the keys at closing on Friday for $177,500.

Ovation at Cape San Blas Second Tier Lot Under Contract April 2015 with List Price of $114,900

About a mile down the road in Ovation, buyers closed on a second-tier lot listed for $125,000. This 107′ by 50′ “X” zone lot originally sold in the summer of 2005 for $500,000. The current owners bought it two years ago for $95,000, and sold it this week for $117,500.

Cape San Blas First Tier Lot Under Contract May 2015 with List Price of $169,900

This next sale is a 63′ by 210′, 0.31-acre “X” zone first tier lot on Haven Road in Ocean Haven listed for $169,900. This is one still owned by the developers, and they finally found a new owner for it with it closing on Monday at above list price for $172,000 cash.

Bank Owned Gulf Front Home at Cape San Blas Under Contract April 2015 with List Price of $489,900

Our next sale is a property that is no stranger to this blog, a gulf front home once known as “Crab Walk” on Rachel Beach Lane down around Scallop Cove. It’s a 3-bedroom, 3-bath, 1,395 square foot home built in 2000 with a sales history illustrative of the local housing boom. In October 2003 it sold for $660,000, and exactly one year later in October 2004 resold for $1.1M. Those buyers put it back on the market just eighteen months later for $1.549M but by then the market had ground to a halt and they lost it to the bank. In early June it went under contract with a list price of $489,900. She has been under contract a number of times over the past few years, but this time she finally made it all the way down the aisle, closing for $479,000.

Bank-Owned Cape San Blas Interior Lot Under Contract April 2015 with List Price of $45,000

We’re down on the south side of the Cape for our sixth and final sale, a bank-owned lot just two lots over from my office. This 81′ by 170′, one third-acre “X” zone lot sold in November of 2005 for $290,000, went under contract in late April with a list price of just $45,000, and closed on Thursday for $30,000.

Cape San Blas Interior Lot Under Contract August 2015 with List Price of $49,900

Now on to our review of this week’s crop of five new contracts, starting off on Driftwood Drive in Peninsula Estates where buyers negotiated a deal on a 109′ by 187′ roughly half-acre interior lot listed for $49,900. The sellers bought the property back in 1998 for $45,000.  All of the lots in this subdivision convey with both deeded gulf and bay access.

Cape San Blas Gulf Front Home Under Contract August 2015 with List Price of $829,000

Here’s a great place down in my neck of the woods, Cape Breezes. This 4-bedroom, 3-bath, 1,728 square foot gulf front private home has hosted many wonderful family memories since it was built in 1993.  Centered on 102′ of gorgeous beach front, it features decks galore for enjoying the Florida Salt Life at its best.  The sellers have owned the home since 1999 when they bought it for $360,000. Last Saturday a new family fell in love with it, and it went under contract with a list price of $829,000.

Cape San Blas First Tier Lot Under Contract  August 2015 With List Price of $129,900

About 2 1/2 miles futher down the beach our third contract is on a first tier lot on Barbados Drive in Turtle Dunes. This third of an acre gem has an interesting sales history having sold originally by the developer back in 2004 for $450,000. Those folks took a hit four years later when they sold it for $202,500.  It sold last year in a tax deed sale for $41,000, and is under contract now with a list price of $129,900.

Waterfront Home on St. Joe Bay Under Contract August 2015 with List Price of $649,000

We’re back down on the south side of the Cape for contract number four which is on this lovely bay front compound listed for $649,000. It includes a 4-bedroom, 2,718 square foot home with 168 feet of waterfront on St. Joe Bay.  Impeccably furnished and finished, this popular rental has all the bells and whistles, such as a screened in-ground pool complete with tiki bar, dock out onto the bay, hot tub overlooking the bay,  and a fire pit. The price also includes a 510 square foot, 1-bedroom, 1-bath cottage, also tastefully furnished and with its own hot tub.

Waterfront Home on St. Joe Bay Under Contract August 2015 with List Price of $349,000

Our fifth and final new contract is also on the bay, but over on the mainland off of C-30.  This 2-bedroom, 2-bath, 1,680 square foot cottage on 102′ of waterfront went under contract last Sunday with a list price of $349,000. The sellers bought it in the summer of 2012 for $257,500  and have done extensive renovations and basically totally refurnished it.

And that wraps it up for this week. Glad to see we’re continuing to move inventory at a decent clip. If you’re considering making a move, I’ll be glad to help you. Just call or text me at 850-227-5197 or shoot me an email to [email protected] and we’ll get started. Until then, have a terrific week – I really appreciate your taking time to stop by today.


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