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Cape San Blas Real Estate Week in Review - Dec. 10-16, 2016

Published on December 17, 2016 by Sherri Dodsworth under Cape San Blas

For Sale and SoldThere was no let-up in Christmas shopping along the coast this week as we rang up an impressive six sales, wrote up four new contracts, added one new listing, and lowered the prices on four others. Our inventory took a nice dip, shedding eight, closing the week at 251, with 85 homes and  166 lots listed for sale in the Cape San Blas, Indian Pass and C-30 Corridor market. We have a lot of territory to cover today so let’s get right to it.

cape-san-blas-bay-view-home-under-contract-november-2016-with-list-price-of-629000

We’ll kick off our review of this week’s six sales on the Cape in Ovation, where buyers fell in love with this handsome 5-bedroom, 3 1/2-bath, 2,278 square foot bay view home listed for $629,000. It was built in 2014, and the sellers bought it in April 2015 for $575,000.  They put it on the market this past April asking $698,000, whittled that price down as the summer wore on, final reaching $629,000 by late October and in less than three weeks had it under contract. On Friday, happy new owners picked up the keys at closing for $615,000.

8-7-acres-of-cape-san-blas-gulf-frontage-under-contract-october-2016-with-list-price-of-4-852m

In the past two months we’ve seen two sales of adjacent large acreage, gulf-front parcels on the Cape, and this week the third large adjoining piece changed hands to a new owner. This stunning 8.7-acre piece with 417′ on the water and averaging 900′ deep was entered into the MLS on October 25 with a list price of $4.852 and showed as contingent that same date so it sounds as if the parties had already come to terms by the time the agent took the listing. The seller has had this parcel for quite some time so I didn’t find any sales history on the property appraiser’s site. On Friday they bid it farewell for $3.61M.

cape-san-blas-bay-front-tract-sold-dec-2016-for-250000

Directly across the street from this tract is a large bay front tract from which the buyer of the gulf front piece successfully negotiated a sale of the northern most 100′ of waterfront for $250,000.  So they now have a lot of beautiful land with both gulf and bay access. Sounds as if someone has a new development in mind.

two-bay-front-cape-san-blas-homes-with-shared-deck-under-contract-september-2016-with-list-price-of-449900

Here’s a bit of an unusual offering. We have a 101′ wide bay front lot with a total of an acre plus of land directly across from Pristine Properties Vacation Rentals. On it are two single family homes that share a common covered deck overlooking the waterfront. The buildings were relocated onto the property from elsewhere shortly after the seller bought the land in April 2013 for $119,500. They underwent major renovations and have been popular rental properties. Between the two of them they have six bedrooms and 4 full baths. They went under contract in late September with a list price of $449,900, and closed on Friday for $425,000

gulf-pines-gulf-front-lot-under-contract-nov-2016-with-list-price-of-399900

We’ll leave the Cape and head on over to Gulf Pines where buyers just had to have this beautiful 75′ wide gulf front lot that’s a little over half an acre.  Gulf Pines is in a FEMA-eligible area, and has HOA fees of only $200 per year.  The sellers have owned this lot since way back in 1986 when they bought it for the unbelievable price of $35,000!  Slide that decimal point to the right by one to get it a little closer to their list price of $399,900, which they very nearly reached, signing over the title on Wednesday to the new owners for $389,900.

indian-pass-gulf-front-lot-over-looking-st-vincent-island-sold-dec-2016-for-350000-cash

Our sixth and final sale is over on Indian Pass where buyers were smitten with this 101′ by 643′, 1.3 acre piece of paradise overlooking St. Vincent Island. The seller bought it back in 1996 for $175,000, and has had it listed for $399,000. There’s a vintage mobile home on the lot, so there is already power, water and septic in place. She accepted an offer the buyers brought her last Sunday and on Friday they closed for $350,000 cash.

cape-san-blas-interior-lot-under-contract-dec-2016-with-list-price-of-55000

Now on to our four new contracts, kicking off on the north end of the Cape on Hemmingway Circle in Sunset Pointe where the parties shook hands on this 90′ by 125′, quarter-acre interior lot listed for $55,000. This is a pretty subdivision that’s platted into two sections, with one portion adjacent to the entrance to the state park, and the other portion showcasing the gulf front. This gated community has an attractive community pool, nature walks, and walkovers to the beach. The sellers bought the lot from the developer in mid-2004 for $210,000.

cape-san-blas-condo-under-contrac-dec-2016-with-list-price-of-329000

Here we are on the south side of the Cape in The Club at Cape San Blas for our second contract which is on an attractive 3-bedroom, 2 1/2-bath, 1,620 square foot townhouse style condo listed $329,000. When it was built at the height of the market in 2004, it sold for $499,900. This beautifully furnished home features gorgeous heart of pine floors, granite counter tops throughout, and 10 foot ceilings. The sellers purchased it as a short sale in August 2012 for $196,000.

waters-edge-lot-under-contract-dec-2016-with-list-price-of-29900

Back off the Cape and over on to C-30 to the first little subdivision on your left, Waters Edge, the site of our third contract. This is a 62′ by 248′ lot a little over a third of an acre. Waters Edges is tucked away under sprawling oaks and magnolias, features a pool and tennis court, and provides deeded gulf access directly across the street.  The sellers purchased this lot in 2004 for $210,000, and have it listed for $29,900.

indian-pass-lagoon-front-cottage-under-contract-dec-2016-with-list-price-of-225000

We’ll return to Indian Pass for our fourth and final contract which is on this little 1-bedroom, 2-bath, 1,096 square foot lagoon front cottage on Osceola listed for $225,000. It’s situated on a 1.6 acre lot that last sold in mid-1998 for $38,500.

Only eight more shopping days ’til Christmas, so if you have coastal paradise properties on your shopping list be sure to get in touch with me this week. Call or text me at 850-227-5197, or send me an email to [email protected]. In all the holiday hustle and bustle, with last minute shopping, decorating and wrapping gifts, be sure to take time to take note of the gifts you already have:  your family, pets, and friends, and give them the gift of letting them know just how much they mean to you. Have fun, keep warm, and thanks so much for stopping by today.

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