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Cape San Blas Real Estate Week in Review - Sep. 5-11, 2015

Published on September 11, 2015 by Sherri Dodsworth under Cape San Blas

As summer begins to fade and the quieter days of autumn return to our beaches, the sizzling hot action of the past few months simmered down a bit giving us a moderately active week with five closings and three new contractsfour new listings and three price changes.  All that activity trimmed our inventory by seven, closing the week at 270, with 82 homes and 188 lots listed for sale in the MLS in the Cape San Blas, Indian Pass and C-30 Corridor market.

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

This week we’ll begin our review of our five sales on the Cape about a quarter of a mile north of Scallop Cove with 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 those owners put it under contract August 4th with a list price of $129,900 and signed over the deed to the new owners on Friday for a tidy little profit at $115,000.

Cape San Blas Gulf Front Townhouse Under Contract July 2015 with List Price of $389,000

Sale number two is a 1,600 square foot, 3-bedroom, 2 1/2-bath Sunrise Sunset townhome near the rocks at Stumphole which was listed in early July for $389,000, and went under contract in mid-August. The Sellers bought the place in 2008 for $305,000, did a nice renovation of the kitchen and baths, brought some new furnishings, and sold it on Friday for $375,000.

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

This third sale is over on the mainland off of C-30 where this 2-bedroom, 2-bath, 1,680 square foot cottage on 102′ of waterfront went under contract last month with a list price of $349,000. The sellers bought it in the summer of 2012 for $257,500, did extensive renovations and basically totally refurnished it. They were rewarded for their efforts on Thursday when they handed over the keys to the happy new owners for $337,500.

Gulf Pines Gulf Front Lot Under Contract July 2015 with List Price of $435,000

Next we’re heading west on C-30 over to Gulf Pines located between the Cape and Indian Pass. In late July buyers penned a deal on this half-acre-plus 76′ wide gulf front lot listed for $435,000. The sellers have owned this less than six months, having bought it back in February for $350,000. They let it go this week for $385,000 so factoring in closing costs this sale was probably pretty close to a break-even deal or them.

Bank-Owned Indian Pass Lagoon Front Lot Under Contract September 2015 with LIst Price of $82,500

Last stop of the day is over on Indian Pass with a bank-owned property, a 127′ lagoon front lot listed for $82,500. Back in 2004 the one-acre parcel sold for $290,000, a far cry from the $71,000 buyers got it for on Tuesday.

Barrier Dunes Townhouse Under Contract September 2015 with List Price of $234,500

The first of our thee new contracts starts off in familiar territory, popular Barrier Dunes on the north end of the Cape where this 2-bedroom, 2 1/2-bath, 1,377 square foot townhome went under contract last Saturday sporting a $234,500 price tag. The sellers got a steal of a deal on this pond-front home in 2013, picking it up for $175,000. They added new furnishings and some other upgrades such as removing the carpet in the main living area and replacing it with wood-look vinyl plank flooring with cork backing.

First Tier Home in McCosh Mill Road Under Contract September 2015 with List Price of $438,000

On the south side of the Cape in Piney Woods on McCosh Mill Road buyers negotiated a deal on this newly listed 3-bedroom, 3-bath, 1,728-square foot first tier home listed for $438,000. The sellers bought the “X” zone lot from the developer back in 2001 for $141,000.

Cape San Blas Area Gulf Front Home Under Contract September 2015 with List Price of $799,000

We’re back out on the C-30 Corridor for our third and final sale, a 4-bedroom, 2 1/2-bath, 2,112-square foot gulf front home listed for $799,000. It was build in 1996 on a lot with 75′ of waterfront footage. The sellers bought it at the height of the market in mid-2004 for $1.15M.

That does it for this week. With only three months remaining in the year, it’s not too early to consider getting with your financial planner and seeing whether buying or selling investment property before the 31st of December would be advantageous for you. I’ll be glad to answer any questions you may have regarding local real estate and welcome the opportunity to work with you. Call or text me at 850-227-5197, or shoot me an email to [email protected] . Have a terrific week and thanks so much for taking time out of your schedule to stop by today.







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