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Cape San Blas Real Estate Week in Review - May 7-13, 2016

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

For Sale Sold SignIt’s been a fun week around the Forgotten Coast with the annual influx of Plein Air artists out and about capturing our beautiful area on their canvases. Buyers captured some real estate for their portfolios as well, closing on nine properties and penning four new contracts.  Sellers added twelve new listings, and put new price tags on five others. Virtually no change in our inventory, shedding just one, closing the week out at 260, with 86 homes and 174 lots listed for sale in the Cape San Blas, Indian Pass and C-30 Corridor MLS.

Cape San Blas Gulf Front Townhouse Under Contract Feb. 26, 2016 with List Price of $398,000

To kick off our review of this week’s nine sales we’ll start off where we so often do on the north end of the Cape in Barrier Dunes with a 3-bedroom, 3 1/2-bath 1,845 square foot gulf front townhouse listed for $398,000. The sellers bought this circa 1985 townhouse in 2005 for $590,000. I was working with a buyer who really liked the place, but was a little late to the party as by the time she found it there was already a contract on it. No problem. We submitted a back-up offer and waited. The first contract eventually didn’t work out and so my buyer was able to become the primary contract and happily went to closing on Friday, picking up the new keys for $375,000 cash.

Commercial Building on the Cape Sold May 2016 for $290,000

Sale number two is one of just a small handful of commercial buildings on the Cape. When I moved here in 1994, this place was a cheerful little eatery known as The Cape Café, and it was the only place to eat out on the entire peninsula. The café closed in 1998, the year today’s seller purchased it for $140,000. The equipment is long gone, so they’ve had the building sitting  vacant since then, save for a brief period where a thrift store operated out of it. They listed and put it under contract on April 15 with an MLS price of $325,000. The parties wrapped things op on Friday and closed for $290,000. No word yet as to what the new owners’ plans are for the space.

Cape San Blas Bay Front Lot Under Contract April 2016 with List Price of $275,000

About half a mile down the road in my neck of the woods, Cape Breezes, this 100′ by 320′ bay front lot went under contract on April 21 within days of it hitting the market sporting a $275,000 price tag. This neighborhood is one of the original subdivisions on the Cape, dating from the early 80’s, and spans from the bay to the gulf. There is no HOA, no HOA fees, and all owners enjoy deeded gulf and bay access. The seller purchased the property in 1994 for $65,000, and signed over the title on Friday for $250,000.

Cape San Blas Beach Cottage Under Contract April 2016 with LIst Price of $184,000

Next stop: Jamaica! Drive, that is, the little beach road that meanders down behind the south side of The Tradin’ Post. Last month someone penned a deal on this 2-bedroom, 1-bath, 520 square foot retro beach cottage listed for $184,000.  The sellers picked it up back in the summer of 2004 for $155,000, and sold it this week for $170,000.

Cape San Blas Gulf Front Condo Sold May 2016 for $300,000

Next up is a downstairs unit in a 4-unit condo quadplex on Antiqua. Dating from the early ’80’s, this 3-bedroom, 2-bath, 1300 square foot unit went under contract in mid-April with a list price of $325,000.  The sellers bought it in 2004 for $274,000, and sold it on Monday for $300,000 cash.

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

Sale number six is a gulf front rental house on Sea Urchin Drive 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, listed it for $519,000, but came way off that price, closing on Wednesday for $390,000 cash.

Cape San Blas Home Under Contract April 2016 with List Price $429,900

Down on the south side of the Cape in Surfside Estates, a recently listed 3-bedroom, 2-bath, 1,480 square foot home with an in-ground pool and in the “X” zone went under contract in early April with a list price of $429,900.  The sellers bought the lot in 2011 for $45,000 and started building shortly thereafter. On Wednesday the new owners picked up the keys at closing for $425,000.

Indian Pass Wetlands Under Contract March 2016 with List Price of $40,000

Indian Pass Wetlands Under Contract March 2016 With List Price of $75,000

Our final two sales are properties that went under contract almost immediately. Located just across the street from the Indian Pass Raw Bar, the two contain roughly 14-acres, the majority of which are wetlands with a sliver of uplands near the road. They were listed on  for $40,000 and $75,000, and were snapped up the very next day. On Friday they closed for $30,000 and $60,000 cash respectively.

Cape San Blas Townhouse Under Contract May 2016 with List Price of $269,000

The first of our four new contracts is located in Sea Cliffs on the north end of the Cape.  Buyers took a fancy to this 4-bedroom, 4 1/2-bath, 2,007 square foot townhouse listed for $269,000. It has a bit of a gulf view from the decks, and includes an elevator and private enclosed garage.

Cape San Blas Townhouse Under Contract May 2016 with List Price of $245,000

Next door in Barrier Dunes, sellers accepted on offer on their 2-bedroom, 2-bath, 1,344 square foot townhouse on Parkside listed for $245,000.  The comfortable end unit has also been configured with a screened in porch.  The owners purchased the home in mid-2011 for $175,000.

Cape San Blas Gulf Front Townhouse Under Contract May 2016 with List Price of $299,000

A lot of townhouse action this week. Contract number three is on a 3-bedroom, 2 1/2-bath gulf front unit listed for $299,000. It’s one of the homes in Sunrise Sunset, a complex on the south end of the peninsula down near the rocks at Stumphole.

Gulf View Lot at Cottages at Indian Summer Under Contract May 2016 with List Price of $39,900

We’ll wrap things up today over at the Cottages at Indian Summer off of C-30, where buyers and sellers shook hands over an agreement on this roughly half-acre second tier lot listed for $39,900. It’s situated off the end of a cul de sac, and sold in March last year for $30,000.

That does it for this week. If you’re interested in finding out about coastal opportunities or if you’re considering selling, let me know and I’ll be glad to help you either way. Call me at 850-227-5197  or send me an email to [email protected] and we’ll get started. Have a terrific week, and thanks so much for taking time out of your schedule to stop by today.

 

 

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