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Cape San Blas Real Estate Week in Review - June 25-July 1, 2015

Published on July 1, 2016 by Sherri Dodsworth under Cape San Blas

For Sale Sold SignWhat a difference a week makes! After two sleepy weeks of slow activity, our market roared back to life closing six sales and writing up eight new contracts.  Sellers brought seven new listings to the market mix, and changed prices on two others. All that activity still had very little impact on our inventory as we shed only one, closing the week at 267, with 88 homes and 179 lots listed for sale in the Cape San Blas, Indian Pass and C-30 Corridor MLS.

Interior Lot at Park Point Under Contract May 2016 with List Price of $43,500

Let’s launch into our review of this week’s six sales by heading up to the north end of the Cape to Park Pointe where the parties closed on a bank-owned, quarter-acre interior lot.  The bank had it listed for $43,500, but accepted $38,601; quite a bargain from the $370,000 it sold for in November 2004.

Bank Owned Townhouse Sold June 2016 for $184,900

In nearby Barrier Dunes, our second sale is this bank-owned 2-bedroom, 2 1/2-bath, 1,197 pond-front townhouse, unfurnished and vacant for quite some time. The downstairs bedroom shows signs of a water leak issue some time in the past, and a section of sheetrock had been cut out of the wall revealing a pipe connected to the upstairs master bath that had been severed but not repaired. In short: this is a true fixer upper. The bank asked for and got $184,900 for it.

Cape San Blas First Tier Lot Under Contract June 2016 with List Price of $147,500

Sale number three is a quick resale of a property on Bamba Lane that the seller purchased just three weeks ago from Cadence Bank on the first of June for $127,000. They immediately put it back on the market, asking $147,500, and on Friday sold it for $85,000; the MLS notes didn’t say so, but I suspect this is just a first tier portion of the parent lot. It’s a very oddly shaped piece of property.

Cape San Blas Gulf View Duplex Under Contract May 2016 with List Price of $289,000

Down on Aruba this gulf-view 2-bedroom, 2-bath, 1,992 square foot “X”-zone duplex went under contract in less than a week when it was listed at the end of May. The sellers bought it in January 2004 for $120,000, had it listed for $289,000, and handed over the keys to the new owners on Tuesday for $270,000.

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

A lot of townhouse action this week. Next up is a 3-bedroom, 2 1/2-bath gulf front unit. It’s one of the homes in Sunrise Sunset, a complex on the south end of the peninsula down near the rocks at Stumphole.  The sellers bought is in May 2015 for $227,500, spruced it up with new paint and furnishings, put it back on the market asking $299,000, and sold it for $290,000.

Treasure Shores Gulf Front Lot Under Contract June 2016 with List Price of $399,000

Buyers trounced on this Treasure Shores gulf front lot within days of it debuting in the MLS. This 75′ wide, half-acre, FEMA-eligible beauty was listed for $399,000 and went under contract exactly one week later. The seller has owned the property since 1984 when she purchased it for just $46,000, and sold it on Thursday for $389,000.

Barrier Dunes Gulf Front Townhouse Under Contract June 2016 with List Price of $297,500

Everyone wanted a piece of our coastal paradise this week and we Realtors were kept busy showing property and writing up eight new contracts. The first one takes us back to Barrier Dunes to this bank-owned 2-bedroom, 2 1/2-bath, 1,593 gulf front townhouse on Sabal Drive. It’s being sold unfurnished and is listed for $297,500. The last time it sold was back in early 2005 when it went for $490,000.

Cape San Blas Bay Front Home Under Contract June 2016 with List Price of $449,900

Here’s a pleasant bay front offering, 3-bedroom, 3 1/2-bath, 1,700 square home listed for $449,900. It’s situated on 90′ of waterfront in the Hibiscus Bay subdivision, a pretty little community with deeded gulf access and a nice community pool.

Gulf Front Cape San Blas House Under Contract June 2016 with List Price of $849,000

We’ll travel south about two miles to Barbados Drive in Turtle Dunes where sellers accepted an offer on their 4-bedroom, 4-bath, 2,726 square foot gulf front home listed for $849,000. It’s a 2008 vintage rental property on 48′ of sandy white beach. It last sold in mid-2012 for $625,000.

Cape San Blas Duplex Under Contract June 2016 with List Price of #334,000

Aruba Drive was a happening place this week, with buyers securing a contract on this 4-bedroom, 2 1/2-bath, 1,992 square foot circa 1985 duplex sporting a $334,000 price tag. It’s in an X zone and there are no HOA fees. The sellers bought it in 2012 for $225,000 and have done a lot of customizing since then.

Cape San Blas Gulf Front Lot Under Contract June 2016 with List Price of $224,900

Our next contract is on a 100′ wide waterfront lot on the south side of the Sunrise Sunset townhouses. The property last sold in mid-2003 for $388,000, and went under contract on Thursday with a list price of $224,900.

Lot on McCosh Mill Road Under Contract June 2016 with List Price of $69,900

We’ll travel down to the south side of the Cape to McCosh Mill Road in Piney Woods where buyers had their offer accepted on this 95′ by 28′ X zone flag lot recently listed for $69,900. At the height of the real estate boom it sold for $399,900.

Cape San Blas Bay Front Lot Under Contract June 2016 with List Price of $124,900

Bay front is in high demand lately and buyers snapped up this offering within days of it debuting in the MLS. It’s a 75′ by 2050′, 0.59-acre lot listed for $124,900. Last time it went to the closing table was in mid-2004 when it went for $280,000.

Indian Pass First Tier Lot Under Contract June 2016 with List Price of $89,900

We’ll wrap it all up today out near the point of Indian Pass with this verdant quarter-acre, 40′ by 273′ first tier lot listed for $89,900.  The seller bought it in early 2013 for $70,000.

That’ll do it for this week. We’ve covered a wide variety of properties today and, as you can see, there are still a lot of good values to be had. If you’re interested in seeing what you might be able to pick up for yourself, please call or text me at 850-227-5197 or send an email to [email protected]. Have a terrific week, and thanks so much for taking time out to stop by today.

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