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Cape San Blas Real Estate Week in Review - June 4-10, 2016

Published on June 11, 2016 by Sherri Dodsworth under Cape San Blas

   Hot! Hot! Hot! No – not just the weather, but our super hot real estate market. What a week!   We closed an impressive ten sales and wrote up five new contracts. Sellers added nine new listings to the mix,  and changed prices on seven others.  Even with all that activity, our inventory remains stubbornly stuck at 264, with 86 homes and 178 lots listed in the MLS in the Cape San Blas, Indian Pass and C-30 Corridor market.  Let’s see what’s shaking!

Cape San Blas Gulf Front Condo Under Contract March 2016 with List Price of $360,000

We’ll kick off at the north end of the Cape in Sea Cliffs to begin our review this week’s whopping crop of ten sales, starting off with this 3-bedroom, 2 1/2-bath, 1,670-square foot gulf front condo listed for $360,000. It was built in 1986 and is situated in an “X” flood zone. The sellers bought the unit back in 2003 for $433,500, and sold it on Monday for $351,000.  Monthly condo fees for these units are $785.

Barrier Dunes Single Family Home Under Contract April 2016 with List Price of $449,000

Next door in Barrier Dunes, we have an offering of a sort we don’t often see there, one of a handful of super cute Key-West style beach cottages. This one is a 3-bedroom, 3-bath, 1,364-square foot model built in 1993. I love the three-sided wrap around porches on both levels.  The sellers bought it in December 2009, listed it for $449,000, and handed the keys over to the new owners on Thursday for $400,000.

Three Oddly Shaped Bank-Owned Lots Under Contract March 2016 with List Price of $179,900

Our next three sales are all on Bamba Lane located on the gulf just south of Coneheads.  The first sale is a set of bank-owned oddly shaped contiguous lots listed for $179,900.   They’ve been trying to sell these since early 2014 when they first listed them for $215,000.  They finally closed settling for $124,000.

Cape San Blas Gulf View Lot Under Contract June 2016 with List Price of $79,900

Cape San Blas First Tier Lot Under Contract June 2016 with List Price of $92,750

These next two quarter-acre lots on Bamba Lane were listed and put under contract just last week. Lot 1 was listed for $79,900 and lot 2 for $92,750.  They sold for $60,000 and $64,000 respectively.  This little micro-subdivision includes sewer, water and underground utilities, and provides deeded gulf access.

C-30 Bay Front Estate Under Contract April 2016 with LIst Price of $699,000

We’ll leave the Cape and head over to Simmons Bayou where the parties closed on this handsome 3-bedroom, 3 1/2-bath, 3,090 square foot home tucked away on 257′ feet of bay front and surrounded by 5.73 acres.  Hard to believe but the owners picked up that large parcel of land back in 1984 for a mere $50,000.  They had the home listed for $699,000, and accepted $690,000 for it.

Treausre Bay Lot Under Contract May 2016 with List Price of $35,000

In nearby Treasure Bay, our seventh sale is a 100′ by 215′ bay view lot on C-30 listed for $35,000. Back in 2005 the sellers paid $195,000 for it. This week they sold it for $30,000.

Treasure Shores Gulf Front Home Under Contract April 2016 with List Price of $879,000

We’re travelling east along C-30 heading over to Treasure Shores where buyers snapped up this 3-bedroom, 3-1/2 bath, 3,271 square foot gulf front home just two days after it was listed for $879,000. The home was built in 2002 on a 75′ span of beach front. In early 2012, the sellers bought it in a foreclosure sale for $649,000, and turned a nice little return on that investment on Monday when they signed over the title at closing for full list price of $879,000.

Lagoon Front Lot Under Contract March 2016 with List Price of $49,900

Further east on C-30 about 2 1/2 miles past the raw bar, the parties closed on this 80′ by 380′, three-quarter-of-an acre lagoon front lot listed for $49,900. The sellers picked it up in early 2014 for $27,500, and sold it for $43,000.

Indian Pass Gulf Front Home Under Contract April 2016 with List Price of $899,000

Tucked away on 75′ of quiet gulf front on Canoe Lane in Indian Summer at Indian Pass is this handsome 2,400 square foot, 4-bedroom, 3-bath, gulf front home listed for $899,000.  The sellers bought it in 2009 for $825,000. Back at the height of the market in 2004 it sold for $1.5M. This time around it went for $890,000.

Fannie Mae Owned Barrier Dunes Townhouse Under Contract June 2016 with List Price of $184,900

Our review of this week’s five new contracts takes us back to Barrier Dunes where buyers submitted a winning bid on this Fanny Mae-owned 2-bedroom, 2-bath, gulf view townhouse listed for $184,900.  This place has been sitting vacant for several years now and is in need of a fair amount of TLC. The appliances are still in place but there are no furnishings. Back in 2005 it sold for $395,000.

Bay View Corner Lot In Ovaton at Cape San Blas Under Contract June 2016 with List Price of $119,000

About a mile south lies Ovation which is where shoppers penned a contract on a bay view corner lot listed for $119,000.  In mid-2014 the 80′ by 85′ lot sold for $65,000.

Cape San Blas Gulf Front Lot Under Contract June 2016 with LIst Price of $279,000

Down on the south side of the Cape on Louisiana Lane not far from the Sand Bucket Smokehouse and Grille, sellers accepted an offer on their 50′ by 517′, 0.57 acre gulf front lot for which they’re asking $279,000. It’s not listed as a short sale even though county records indicate it last sold in mid-2004 for $640,000.

Indian Pass Fixer Upper Under Contract June 2016 with List Price of $145,000

We’re back over at Indian Pass for our final two contracts. First up, a bona-fide, genuine Fixer Upper.  Home Depot and Lowe’s stand by – someone’s about to embark upon quite a fun project with this one! They’re taking on a 720-square foot, 2-bedroom, 1-bath cottage listed for $145,000. It looks rougher on the outside than it does on the inside, as a fair amount of interior remodeling has already been completed.  The property’s only a block or so from the beach, so when they get it all finished, they should end up with a sweet little beach retreat.

Indian Pass Gulf Front Home Under Contract June 2016 with List Price of $775,900

Final stop of the day is this 3-bedroom, 2-bath, 2,400 square foot gulf front home on 62′ of beach front out near the point of the Pass. Is that an absolutely stunning view or what?  The island off shore is St. Vincent Island, a wildlife preserve. The sellers bought this gulf front lovely back in 2001 for $484,000, and have it under contract with a list price of $775,900.

That does it for this week. We’re moving a lot of value-priced properties, so as we like to say along the beach, “the water’s fine – jump on in”! If you’d like to test the waters for some great deals, call or text me at 850-227-5197 or email me at [email protected] and we’ll get to work. Until then, have a great week, don’t forget that sun screen, and thanks so much for taking time to stop by today.



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