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Cape San Blas Real Estate Week in Review - Mar. 19-25, 2016

Published on March 26, 2016 by Sherri Dodsworth under Cape San Blas

Soggy, rainy weather didn’t dampen buyers this week as they added beautiful beach properties to their Easter Bunny baskets.  Buyers closed five sales and wrote up nine new contracts, while sellers posted a whopping eighteen new listings, and put new price tags on six others. Our inventory hopped up a bit adding eleven, closing at 255 with 82 houses and 173 lots listed for sale in the Cape San Blas, Indian Pass and C-30 Corridor MLS.

Cape San Blas Interior Home Under Contract August 2015 with List Price of $399,000

We’ll begin our review of this week’s five sales on Sandlewood Boulevard in Peninsula Estates with this 5-bedroom,  3 1/2-bath, 2,210 square foot interior home that went under contract in early February with a list price of $399,000. The sellers picked it up in a foreclosure sale in June of 2014 for $167,000 when it was in need of some serious TLC.  They’ve done a remarkable renovation, bringing it back from the brink.  Last August they had the house under contract briefly but that one didn’t work out and it came back on the market shortly thereafter.  This time they made it all the way down the aisle, closing for $382,500.

Ovation Bay View Lot Under Contract March 2016 with List Price of $31,800

Sale number two is in nearby Ovation with a bay view lot on Regatta Drive listed for $31,800. The sellers bought it back in 2012 for $19,000, and turned a nice little profit on Thursday signing it over to the new owners for $31,000 cash.

Cape San Blas Gulf View Lot Under Contract Feb. 2016 with List Price of $139,900

Our third sale takes us to Tobago Drive, a beachy little street on the north side of The Tradin’ Post. A family found a real gem in this gulf view, “X” zone lot listed for $139,900. It’s a third of an acre, measuring 102′ by 130′ and just a very short stroll to the sandy surf. BONUS: it’s only steps away from the fresh baked homemade donuts at Webers Little Donut Shop!  The happy new owners took title on Friday for $125,000.

Gulf Front Cape San Blas Home Under Contract February 2016 with List Price of $879,900

Just south of Scallop Cove is a place that’s been trying to find a buyer since mid-2009 when it entered the market asking $1.28M. “Jubilee”, as it’s known, is a 5-bedroom, 3 1/2-bath, 2,494 square foot home built in 2008 on a 100′ wide gulf front lot.  There is a screened-in porch on the south side of the house, but none facing the beach. The sellers finally whittled their price tag down to $879,900, put it under contract at the end of January, and went to closing on Thursday picking up a check for $867,000.

Money Bayou Gulf Front Lot Under Contract January 2016 with List Price of $249,000

Our fifth and final sale is a 50′ by 480′ gulf front lot on Sweetwater Shores Drive in Money Bayou.  This is on the south facing beach in an area that is FEMA eligible. These sellers bought the property back in the summer of 2000 for $165,000, had it listed for $249,000, and sold it on Wednesday for $230,000.

Cape San Blas Interior Lot Under Contract March 2016 with List Price of $49,900

One of the northernmost subdivisions subdivisions on the Cape is Sunset Pointe, and that’s where we’ll kick off today’s review of our nine new contracts.  This 87′ by 213′ “X” zone lot went under contract the day after it debuted on the market sporting a $49,900 price tag, quite a difference from the price it commanded back in early 2004 when it sold for $380,000.  The current owner bought it in mid-2014 for $33,000. The road to the right of the lot you see n the photo above is the entrance road to the state park.  The

Barrier Dunes Interior Townhouse Under Contract March 2016 with List Price of $192,500

More action at Barrier Dunes this week with buyers penning an offer on this 3-bedroom, 3-bath, 1,377 square foot townhouse on Parkside listed for $192,500.  It was built in 1985, and sold to the current owners in 1992 for $67,500.

Ovation at Cape San Blas First Tier Lot Under Contract May 2014 as Short Sale with List Price of $135,000

We’re back at Ovation with a first tier, gulf view bank-owned lot listed for $169,900; last sold in 2005 for $775,000.  All of the first tier lots in Ovation are completely in the “X” zone.

Cape San Blas Gulf Front House Under Contract Nov. 2015 with List Proice of $994,900

About two miles south on Windy Lane in Paradise Gulf, our fourth contract is on a rambling 5-bedroom, 5-bath, 3,840 square foot gulf front home listed for $1.1M. The sellers bought the 67′ wide lot in 1994 for $75,000, and built the home in 1996.  They had it under contract briefly once before last November.

Cape San Blas Bay Front Home Under Contract March 2016 with List Price of $650,000

Contract number five is on this elegant bay front home on Cape San Blas that the sellers purchased in June 2012 for $675,000, and have it listed for $650,000.  It’s a 3,455 square foot, 3-bedroom home on roughly 2.25 acres with 125′ of waterfront. They’ve had it on the market since early 2011 when they opened with an asking price of $899,900.

Cape San Blas Gulf View Lot Under Contract March 2016 with List price of $89,900

We’ll head down to the south side of the Cape to the gated community of Southbeach where this quarter-acre, gulf view, X-zone lot went under contract on Monday with a list price of $89,900.  The sellers bought it in mid-2014 for $54,800.

Cape San Blas Bay Front Lot Under Contract March 2016 with List Price of $325,000

About a half a mile down Cape San Blas Road, sellers accepted an offer on their 94′-wide, three-quarter-acre bay front lot. They bought it in late 2001 for $90,000 and have it listed for $145,000.

Indian Pass Gulf Front Home Under Contract March 2016 with List Price of $425,000 Lagoon Front Lot Under Contract March 2016 with List Price of $49,900

We’ll head back over to Indian Pass area for our final two contracts, starting on C-30 about 2 1/2 miles past the raw bar. This 80′ by 380′, three-quarter-of-an acre lagoon front lot went under contract sporting a $49,900 price tag. The sellers picked it up in early 2014 for $27,500.

Indian Pass Gulf Front Home Under Contract March 2016 with List Price of $425,000

We’ll wrap things up today out on the Indian Pass peninsula where this 3-bedroom, 2 1/2-bath, 1,500 square foot gulf front home went under contract on Thursday with an asking price of $425,000. This is actually one half of a duplex that was built in 1990. The sellers bought the property in late 2012 for $242,000.

That takes care of it for today.  If you’re thinking of buying or selling, let’s get together. Competition for properties is strong and I’ll be glad to help you.  Call or text me at 850-227-5197 or drop a line 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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