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Cape San Blas Real Estate Week in Review - July 30 - August 5, 2016

Published on August 5, 2016 by Sherri Dodsworth under Cape San Blas

Georgia went back to school and the Cape’s been a noticeably quieter place this week. Even so, we managed seven sales, wrote up four new contracts, added five new listings, and changed prices on five others. Our inventory inched up by one ending the week with 260 active MLS listings in the Cape San Blas, Indian Pass and C-30 market, with 91 houses and 169 lots. Let’s see what properties caught buyers’ attention.

Gulf Front Lot in Sunset Pointe Sold August 2016 for $435,000

We kick off our look at this week’s seven sales on the north end of the Cape in Sunset Pointe with a For Sale By Owner (FSBO) sale entered into the MLS for comp purposes.  This is a gorgeous 68′ wide by 271′ deep, 0.42-acre gulf front lot with views that will take your breath away. The seller was the developer who has long maintained he intended to keep this property, but someone apparently offered him $435,000 cash and that was enough to move him to reconsider.

Barrier Dunes Townhouse at Cape San Blas Under Contract June 2016 with List Price of $269,000

In nearby Barrier Dunes the parties closed on this 2-bedroom, 2-bath, 1,216 square foot townhome on Sandpine Drive. The sellers bought it at a short sale in early 2012 for $132,000 and have brought in some new furnishings and spruced the place up quite nicely. They has it listed for $269,000, and sold it for $250,000 with the buyers using conventional financing.  This actually closed on the 29th but the paperwork was delayed and so wasn’t entered into the MLS until this week.

First Tier Ovation Lot at Cape San Blas Under Contract July 2016 with List Price of $219,000

Down the road a bit in Ovation, buyers placed a successful bid in mid-July on a first tier lot listed for $219,000. Back in 2005, the developer sold this 63′ by 70′. 0.10 acre home site for an amazing $775,000. The current sellers picked it up in mid-2014 for a bargain basement price (comparatively) of $148,500, and sold it on Friday for $200,000 cash.

Interior Ovation Lot at Cape San Blas Sold August 2016 for $38,000

Sale number four is across the street on the bay side of Ovation where this 55′ by 133′ 0.17-acre interior lot sold on Wendesday for $38,000 cash. The sellers bought it in the sumer of 2012 for $29,500 and had it listed for $43,700.

Cape San Blas Gulf Front House Under Contract January 2014 as Short Sale with List Price of $395,000

Our fifth sale is on the south side of the Cape in Cape Dunes where this 3-bedroom, 4-bath, 2,324 gulf front home listed as a short sale has been under contract since mid-2014. The sellers bought it in mid-2004 for $650,000 and did a very nice job restoring it. The gulf views from this very comfortable home are simply amazing.  The bank finally approved the short sale this week and closed for $460,000.

Cape San Blas Gulf Front Home Under Contract July 2016 with List Price of $1.12M

Half a mile or so down Cape San Blas Road in Two Palms is this lovely 4-bedroom, 4 1/2-bath, 2,573 square-foot gulf front home listed for $1.12M.  It’s situated on 54′ of beach front. In August of 2007 it sold for $1.306M; the sellers bought it in late 2012 for $1.22M, and handed over the keys at closing on Thursday for $1.05M.

Cottages at Indian Summer Lot Under Contract June 2016 with List Price of $37,900

We’ll leave the Cape and head east along C-30 to The Cottages of Indian Summer with the parties closing on this quarter-acre, second tier lot. The property is on the cul de sac and directly across the street from the pedestrian access to the beach. The seller bought it in late 2011 for $27,500, had it listed for $37,900, and sold it for $33,000.

Interior Lot on the South Side of the Cape Under Contract August 2016 with List Price of $44,900

The first of our four new contracts is on a 110′ by 130′, one-third-acre interior lot in San Blas Plantation listed for $44,900. This subdivision offers deeded gulf access to each owner, and it shares a reciprocal agreement with the Eventide subdivision across the street with whom they share a bay access agreement. In December 2004 this lot sold for $240,000.

Gulf Front Lot Under Contract August 2016 with List Price of $325,000

Buyers were in the mood for gulf front action this week with three of our four new contracts being on the water. Sellers accepted an offer on their 60′ by 414′ deep. 0.63-acre gulf front parcel at Curve at the Cape on Wednesday. They have it listed for $325,000.  Back in the summer of 2004 it sold for $650,000.

Treasure Shores Gulf Front Home Under Contract August 2016 with List Price of $899,900

Contract number three is on this 4-bedroom, 3-bath, 1,886 square foot gulf front home in Treasure Shores listed for $899,900. The home was built in   1997 and is situated on a 75′ wide gulf front lot. It’s a popular rental property, generating a gross rental income last year of a very impressive $130,050. The sellers bought it in January 2009 for $625,000.

Indian Summer Gulf Front Lot Under Contract August 2016 with List Price of $515,000

We’ll wrap things up today over on Indian Pass at Indian Summer where buyers had their offer accepted on this 67′ wide by 224′ deep gulf front lot listed for $515,000. The seller bought it in late 2003 for $595,000.

And that does it for today. I am taking a week’s vacation heading to St. Augustine with a group of gal pals so no post next Saturday. I’ll be back here on the following Saturday, August 20th, to bring you up to date with all the latest. Until then, enjoy these final few weeks of summer, stay safe, and as always, thanks so much for taking time out of your busy schedule to stop by.

1 Comment on 'Cape San Blas Real Estate Week in Review – July 30 – August 5, 2016':

Sara on 08/07/16:

Sherri, do you know the contract price for the lot at the Curve? Thanks! Enjoy your break, Sara

1 replies:

Sherri Dodsworth on 08/07/16:

Won't know until it closes, unfortunately. Will be interesting to see. Thanks for checking, Sara!

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