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Cape San Blas Real Estate Week in Review - Apr. 9-15, 2016

Published on April 15, 2016 by Sherri Dodsworth under Cape San Blas

Georgia went back to school this week so we had fewer visitors here shopping for beach properties, but owners were busy as could be.  We closed just three sales and wrote three new contracts, but sellers added a whopping fourteen new listings and changed prices on four others.  Not surprisingly, our inventory took a giant leap upward, closing at 264, with 91 homes and 173 lots listed for sale in the Cape San Blas, Indian Pass, and C-30 Corridor Market MLS.

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

We’ll begin our review of this week’s three sales in Seagrass on the Cape.  This listing is for an adjoining gulf front and first tier lot listed for $499,000. Last March the sellers picked the pair 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. On Monday they sold for $492,000.

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

On the south side of the Cape 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.  They picked up the keys at closing on Friday for $330,000.

Treasure Bay Lot Under Contract April 2016 with List Price of $37,000

We’ll head off the Cape and travel east along C-30 for our third sale, a 105′ by 215′, half-acre lot in Treasure Bay listed for $37,000. The sellers bought the property in 2001 for $24,500, roughly $33,000 today in inflation-adjusted dollars.  On Wednesday they signed over title to the new owners for $30,000.

Barrier Dunes Townhouse Under Contract April 2016 with List Price of $249,000

For the first of our three new contracts we’ll head up to Barrier Dunes where buyers had their offer accepted on this 2-bedroom, 2-bath, 1,216 square-foot townhouse listed for $249,000.  The sellers bought the rental property in July 2013 for $187,500 cash and have spruced it up nicely since then.

Cape San Blas First Tier Lot Under Contract April 2016 with List Price of $238,000

Contract number two is on a first tier lot in Ocean Haven listed for $238,000.  According to the county property appraiser’s records it last sold for $500,500 in November 2004. I wanted to make sure that amount wasn’t for a multiple sale so I went to the county clerk’s records, and sure enough, that was the price for this single lot.

Bank-Owned 7.5Acres Lagoon Front Property on Indian Pass Under Contract April 2016 with List Price of $429,500

We’ll wind things up today over on Indian Pass where this bank-owned 7 1/2-acre lagoon front parcel went under contract on Monday with a list price of $429,500, a far cry from the $2.1M it sold for in late 2004.  This peaceful parcel measures 606′ on the waterfront.

That’s a wrap – good to see such continuing market interest. I’ve been working with so many buyers negotiating some great deals on lots and homes, and you can, too. If you’re thinking of getting in on some of these values, let’s talk. Call or text me at 850-227-5197 or shoot me an email to [email protected] and we’ll get started. Thanks so much for taking time out of your schedule today – hope to hear from you soon.





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