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Cape San Blas Real Estate Week in Review - Feb. 27-Mar. 4, 2016

Published on March 6, 2016 by Sherri Dodsworth under Cape San Blas

        What a week! Realtors, lenders and closing agents were busy with eight sales  and  seven new contracts.  Sellers added seven new listings, and changed prices on six others, three of which are price increases. Our inventory shed eight, closing the week at 250, with 76 homes, and 174 lots listed for sale in the Cape San Blas, Indian Pass and C-30 Corridor MLS market. Depending on what time of day or evening you’re reading this, may I suggest you settle in with either a nice cuppa Joe or an adult beverage of choice to enjoy while we cover one heck of a lot of territory.

Indian Pass Gulf View HOme Under Contract January 2016 with List Price of $499,000 Our seventh and final new contract takes us over to Apalachee Drive in Indian Pass Beach Subdivision to this 3-bedroom, 2-bath, 2,160 square foot gulf view home listed for $499,000. According to the MLS, it went under contract the same day it was listed. The sellers are the original owners, and built the lovely home in 1999.

Let’s launch into our review of this week’s eight sales on the north end of the Cape in Seacliffs where buyers took title to this 4-bedroom, 4 1/2-bath, 2,007 square-foot gulf view townhouse listed for $269,000. The sellers bought the home from the developer in 2002 when it was built for $335,000, and sold it on Friday for $255,000.

Cape San Blas Gulf Front Home In Ovation Under Contract October 2015 with List Price of $1.29M

About a mile down the beach in Ovation our second sale is this lovely 3-bedroom, 4-bath, 2,618 square foot gulf front home listed for $1.29M.  The sellers bought the lot in 2012 for $150,000 when the developer had their huge clearance sale, then built the house just last year. On Monday new owners picked up the keys at closing  for $1.07M.

Cape San Blas Gulf View Home Under Contract February 2016 with LIst Price of $429,900

Bargain hunters saw a great deal in this 3-bedroom, 3-bath, 1,982 square foot gulf view home on Cancun Drive listed for $429,900. Built in 2005, it’s situated on a quarter-acre “X” zone lot, and has a nice size in-ground pool.  The sellers bought the home in the summer of 2006 for $510,000, and sold it on Monday for $392,000.

Cape San Blas Bay Front Lot Under Contract June 2014 with List Price of $112,000

On the south side of the Cape, just past Salinas Park on the north side of the road, our fourth sale is a 113′ by 288′ bay front lot listed for $115,000, well below the $150,000 it last sold for in December 2001. The property is mixed commercial-residential, offering lots of possibilities. Some savvy entrepreneurs took title on Thursday for $95,000 cash.

Bay View Lot Sold March 2016 for $30,000

For sale number five we’ll travel off the Cape out onto C-30 heading towards town about a mile, stopping at this half-acre, 100′ by 200′ bay view lot on the right side of the road listed for $35,000. Back in 2001 it sold for $23,500 ($31,500 today in inflation-adjusted dollars), and sold Friday for $30,000 cash.

Coastal Home Under Contract January 2016 with List Price of $369,000

We’ll circle back and head east on C-30 over to Waters Edge, about a quarter-mile past Cape San Blas Road. Here a 3-bedroom, 2 1/2-bath, 2,076 square foot home tucked away back under a canopy of oaks went under contract in early January sporting a $369,000 price tag. The sellers bought the lot in 2002 for $96,000. built the home in 2004, and turned over the keys at closing on Friday for $350,000.

Treasure Shores Gulf Front Home Under Contract December 2015 with List Price of $729,000

About a mile and a half further east on C-30 is Treasure Shores where this 4-bedroom, 3-bath, 1,920 square foot gulf front home has been under contract since the end of December with a list price of $729,000. It’s situated on 76′ of gorgeous waterfront.  The sellers bought the rental home in 1999 for $350,000 and bid it adieu on Friday in return for a $630,000 check.

Indian Pass Gulf View Lot Under Contract February 2016 with List Price of $142,000

Our eighth and final sale is over in Indian Pass Beach Subdivision where this 75′ by 105′, 0.18 acre gulf view lot was under contract with a list price of $142,000.  The seller bought the property in 2003 for $250,000, and sold it on Friday for $110,000 cash.

Gulf Front and 1st Tier Lot Under Contract March 2016 with List Price of $499,000

Now let’s take a look at our seven new contracts, starting off in Seagrass back on the Cape.  This listing is for an adjoining gulf front and first tier lot listed for $499,000. Last March the sellers picked them up for $350,000. Because the gulf front parcels sit so far seaward, DEP has never approved permitting for them, which explains the combined price of these two parcels. The county’s assessed value for the gulf front lot is $6,000; the first tier $296,000.

Cape San Blas Waterview Lot Under Contract May 2016 with List Price of $134,500

Contract number two is on Seahorse Lane in Feather Sound. This is another quick turn around sale, with the quarter-acre lot which sold last January for $75,000 now under contract with a list price of $134,500.

Cape San Blas Gulf Front Home Under Contract March 2015 with LIst Price of $519,000

This next contract is on a gulf front rental house directly across the street from Scallop Cove. It’s a 3-bedroom, 2-bath, 1,704 square foot, 1984 vintage home on 50′ of waterfront. The sellers bought it in 2004 for $700,000, and have it listed for $519,000.

Bank-Owned Lot in Jubilation at Cape San Blas Auctioned Off with Opening Bid of $295,000

We’re back on the south side of the Cape in Jubilation where this next property generated quite a bit of interest when it went on the auction block last Saturday with an opening bid price of $295,000. It’s a 3-bedroom, 3-bath, 1,966-square foot bank-owned home built in 2006.  In November 2006 it sold for $780,000.  She has been sitting vacant for several years and is going to need a fair amount of TLC to restore her to her former grandeur.  The winning bid was $391,000, to which a 5% buyer premium will be added at closing.

Cape San Blas Interior Home in Piney Woods Under Contract Feb. 2016 With List Price of $349,000

Just a few blocks away on McCosh Mill Road in Piney Woods, buyers fell in love with this cute little recently completed 3-bedroom, 2 1/2-bath, 1,224 square foot beach cottage listed for $349,000.

Bay View Subdivision Under Contract with List Price of $300,000

We’re leaving the Cape again heading over to Simmons Bayou for a unique offering, a 16-lot subdivision listed for $300,000. According to the MLS, it includes a common area parcel for recreational area and community pool. HOA docs with covenants, conditions and restrictions are in draft form and ready to be recorded or amended.

Gulf Pines First Tier Home Under Contract March 2016 with List Price of $375,000

Once again we circle back on C-30 travelling this time to Gulf Pines where this 2-bedroom, 2-bath, 1,500 square foot first tier home went under contract Tuesday sporting a very attractive $375,000 price tag. This recently listed well-maintained home built in 1996 took less than a month to catch a buyer’s eye.

What an amazing week!  Properties are moving at quite a clip. Inventory remains low and demand high, so if you’re interested in selling now is a great time, and those of you thinking of buying it’s time to step up to the plate while there are still good values. I’ll be glad to help you either way. Give me a call 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 as always, thank you so much for taking time to stop by today.



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