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Cape San Blas Real Estate Week in Review - Oct. 3-9, 2015

Published on October 10, 2015 by Sherri Dodsworth under Cape San Blas

For Sale Sold Sign            October may just be my favorite month of the year here on the Forgotten Coast. I love how the air is cool, the humidity is low, and the skies are crystal clear. It just puts you in a good mood. Seems a lot of folks were feeling pretty good about the area this week, too, as a number of them staked a claim on some of this beach paradise to call their very own. They closed seven sales and wrote up two new contracts. We added seven new listings and changed the price tags on five others. Our inventory inched upwards by four, closing the week at 259, with 80 homes and 179 lots listed for sale in the Cape San Blas, Indian Pass and C-30 Corridor market. Let’s take a look at what all went on since last we met.

Cape San Blas Gulf Front Home at Secluded Dunes Under Contract September 2015 with List Price of $859,000

We’ll start our review of this week’s seven sales up in Secluded Dunes, the northernmost subdivision on the Cape. At the end of August, buyers negotiated a deal on this 3-bedroom, 2-bath, 2,145 square foot circa 1990 home listed for $859,000 as is. It’s situated on a 106′ wide gulf front lot.  This seller held out for full price and got it at closing on Wednesday.

Cape San Blas Gulf Front Lot Sold October 2015 for $390,000

A few hundred feet away south on Secluded Dunes Drive our second sale is a for sale by owner deal (FSBO) on a gulf front lot. The parties negotiated and agreed upon a price of $390,000 and closed the deal on the 30th. The Realtor working with the buyer entered the data this week to make it available for comp purposes.

Cape San Blas Gulf Front Home at Ovation Under Contract August 2015 with List Price of $1.15M

We’ll travel about a mile down the beach to Ovation where with this handsome 5-bedroom, 4-bath, 2,979 square-foot gulf front home has been under contract since late August with a list price of $1.15M .  The sellers bought the lot in mid-2012 during the developer deep discount sale for a mere $135,000.  They then built this home in 2013 and put it in a rental program, where it is on track this year to produce $92,000 in gross rental income.  They signed over the title at closing this week for $1,050,000.

Cape San Blas Road Front Lot Under Contract August 2015 with List Price of $120,000 - Copy

About three miles further down Cape San Blas Road is Silent Sands, an 80’s-era subdivision just north of Scallop Cove. It’s home to a quarter-acre road-front X zone lot that went under contract in mid-August with a list price of $120,000, a far cry from the $440,000 it sold for in 2005.  New owners took title this week for $112,000

Bay Front Cottage at Cape San Blas Sold October 2015 for $185,000

We have two FSBOs today, the gulf front lot at Secluded Dunes and this 2-bedroom, 1-bath, 576 square foot bay front cottage, located directly behind Scallop Cove. It’s one of six units known as Scallop Cove Villas built about 1982 which were taken down to the studs in 2003 and completely renovated.  Each owner has a one-sixth interest in the 250′ parcel of bay front property with a dock, and a deeded 5-pedstrian easement to the Gulf.  The parties negotiated a deal on this one for $185,000 and closed on Monday.

Cape San Blas Gulf View Lot Under Contract July 2015 with List Price of $70,000

Our sixth sale is a third-acre interior lot on Turnstone Drive in San Blas Plantation down on the south side of the Cape. The sellers bought the property in early 2006 for $42,500, and put it under contract July 31st with a list price of $70,000. On Tuesday, they sold it for $62,000.

South Gulf County Bay View Bank Owned House Under Contract September 2015 with List Price of $149,900

I get a lot of requests for “fixer uppers” so when the bank that owned this 3-bedroom, 2-bath, 1,620 square foot house slashed the price from $229,900 to $149,900 last month, I contacted a nice couple I’ve been working with who jumped on it immediately.  The decks are shot but the house itself seems to be in pretty good shape.  It was built in 1990 on a half-acre lot just south of the State Buffer Preserve Center. The previous owners bought it in 2005 for $225,000, and my folks picked up the keys at closing on Monday for $142,405.

Cape San Blas Beach Cottage Under Contract October 2015 with List Price of $179,900

The first of our two new contracts  is on Jamaica Drive behind The Tradin’ Post.  It’s on a 2-bedroom, 1-bath, 520 square-foot cottage built in 1988. The sellers bought it last summer, July 2014, for $165,000, listed it in April for $189,000, dropped that price in July to $179,900 and now have it under contract.

Cape San Blas Interior Lot Under Contract October 2015 with List Price of $69,500

Our second contract is on the south side of the Cape on Pebble Beach Avenue in the Boardwalk Subdivision. Buyers penned a deal on this 78′ by 103′ “X” zone lot listed for $69,500 that the sellers have owned since 1999. Boardwalk is a quiet residential neighborhood of handsome homes and a lovely community pool area overlooking the Gulf.

That’s a wrap for this week. Lots going on – if you’re interested in finding a great value of your own, call or text me at 850-227-5197 or shoot me an email to [email protected] and we’ll get started. I hope to hear from you soon, and really appreciate your taking time to stop by today.

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