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Cape San Blas Real Estate Week in Review - July 8-14, 2017

Published on July 14, 2017 by Sherri Dodsworth under Cape San Blas

All the rain we’ve had the past week sure hasn’t dampened buyers’ spirits  as we turned in another good week. We had six closings, ten new contractseight new listings and just one price change. Naturally with all those new listings our inventory took a good size leap, up by 9, closing at 271, with 86 homes and 185 lots listed in the Cape San Blas, Indian Pass and C-30 Corridor market. Let’s check out what’s moving.

Cape San Blas Luxury Gulf Front Home Under Contract June 2017 with List Price of $1.7M

We’ll launch into our review of this week’s six sales on the north end of the Cape in Secluded Dunes with this magnificent gulf front luxury home under contract since June 3rd.  This 4-bedroom, 4 1/2-bath, 2,889 square foot home sits nestled on a 114′ wide gulf front lot. Add in the decking and that square footage swells to 9,735 square feet. The sellers bought the lot in 2003 for $925,000, and built the home in 2005. Here is the description from the MLS:

“The owners of this impeccable gulf-front beach home, never rented, thought of it all!! The open floor plan features 10′ high ceilings, 3-stop elevator, large wet bar, and Ipe Brazilian wood floors in the common areas, all perfect for entertaining. The gourmet Viking kitchen would be any chef’s dream, complete with granite counter tops, oversized side by side refrigerator, stainless steel double oven, built-in microwave, large induction ceramic cook top and numerous custom cabinets. When you are ready to relax for the evening, retreat to one of the four bedrooms that all face the Gulf of Mexico. Each bedroom has a private bathroom and its own access to the 2nd floor pool area and deck (also constructed from Ipe Brazilian wood). Located just steps from the State Park makes this home very secluded and the views extraordinary”.

On Friday, the lucky new owners pricked up the keys at closing for full list price of $1.7M.

Gulf View Lot on Cape San Blas Under Contract June 2017 with List Price of $148,500

We’ll come back down to earth where mere mortals reside for our second sale, which is in Feather Sound on Sea Dunes Drive.  Here the parties went to the closing table regarding this 128′  by 106′, third-of-an acre gulf view lot listed in late June for $148,500. The sellers have owned it since  way back in 1996 when they bought it for $14,650, and turned a nice little profit on Thursday settling for $130,000.

Cape San Blas Interior Lot Under Contract June 2017 with List Price of $89,900

Down on the south side of the Cape in Surfside Estates, we had a closing on a 90′ by 123′, quarter-acre, “X” zone lot listed for $89,900. This subdivision has easy-going covenants and low annual HOA fees, currently only $240 per year.   This lot sold in mid-2003 for $149,000, and on Monday it went for $80,000.

Bay View Lot Overlooking SR-30 Under Contract June 2017 with List Price of $46,900

Our next sale takes us out along SR-30 to this 76′ by 218′, roughly third-of-an-acre  bay view lot under contract since the beginning of June with a list price of $46,900. There’s been a lot of interest in lots along this stretch in the past  year or so.  This one came on the MLS the first week of March.  The seller bought it in the summer of 2014 for $21,000, and on Monday signed over the title for $44,500.  Back in early 2005 it fetched $195,000.

Lagoon Front Lot on C-30 Under Contract July 2017 with List Price of $39,400

Heading east on C-30 out past Indian Pass Raw Bar, sale number five is an 83′ by 267′, 0.58-acre lagoon front lot listed for $39,400. In the summer of 2004 it sold for $200,000, and on Wednesday it went for $36,000 cash.

Indian Pass First Tier Lot Under Contract June 2017 with List Price of $110,000

We’ll travel over to Indian Pass for our sixth and final sale, a 100′ by 148′, third-of-an-acre gulf view lot listed for $110,000, which is exactly what the seller paid for it in June 2012.  On Thursday it closed for $90,000 cash.

Cape San Blas First Tier Lot Under Contract July 2017 with List Price of $269,500

Now on to our 10 new contracts, starting with this first tier, gulf view lot on Clearwater Drive in Dolphin Beach to Bay. The sellers bought the 50′ by 80′, half-acre, “X” zone lot in 1998 for $52,500, and have it listed for $269,500.

Three Bank-Owned Gulf Front Lots Under Contract July 2017

Our next three contracts are on three bank-owned gulf front lots in Cape Isle Preserve near the rocks at Stumphole. They’re roughly one-third of an acre each, and range in price from $210,000 for a 50′ wide lot to $255,500 for a 90′ wide.  This is an area of historically high erosion rates. There may be wetland issues to deal with as well.

Cape San Blas Gulf View Lot In Jubilation Under Contract July 2017 with List Price of $59,900

Back down on the south side of the Cape, our fifth new contract is on this 50′ by 80′, “X” zone corner lot in Jubilation listed for $59,900.  This is the sister development of Ovation on the Cape, both projects having been developed by Ashwood Development of Atlanta. Jubilation features a gulf front pool with pool house and a wooden boardwalk down to a wide expanse of beachCape San Blas Gulf Front Home Under Contract July 2017 with List Price o $839,900

On Crescent Palms in nearby Pine Bluff, buyers had their offer accepted on this 3-bedroom, 3 1/2-bath, 2,114 square foot home listed for $839,900. It was built in 2012 on a nearly full acre lot featuring 55′ of gulf frontage. The lot alone sold in 2010 for $215,000.

Cape San Blas Gulf Front Home Under Contract July 2017 with List Price of $899,000

In nearby Lantana by the Sea, the parties shook hands on this 4-bedroom, 3-bath, 2,200 square foot gulf front home listed for $899,000.  The real estate investment group owners bought the 42′ wide gulf front lot in 2013 for $70,000.

Bay Front Lot at Marnie's Island Preserve Under Contract July 2017 with List Price of $37,900

Immediately after you turn left off of Cape San Blas Road heading towards town, you pass by Marnie’s Preserve, a small gated bay-front community with an impressive bridge over the marshlands leading out to the homesites.

Treasure Bay Lot on SR-30 Under Contract July 2017 with List Price of $46,900

Further east towards town out along C-30 over to Treasure Bay, our next contract is on this 75′ by 218′, third of an acre bay view lot listed for $46,900, which the sellers bought back in 1999 for $7,800.

Indian Pass First Tier Lot Under Ccontract July 2017 with List Price of $99,500

We’re back out on Indian Pass to wrap things up today with this 42′ by 231′, 0.22 acre first tier lot listed for $99,500.  The property last sold in December 2004 for $365,000.

That’ll do it for this week. Glad to have so much activity going on as people are snapping up these bargain-basement great deals on premium properties. If you’re looking for terrific values, there’s no time like the present to start searching, and I’ll be glad to help you with that. Simply call or text me at 850-227-5197 or use good old reliable email to [email protected]. Get in on the sales action here at the Cape where the only thing hotter than the weather is our real estate market. Have a terrific week, keep cool, and hope to see you back again next week. Thanks for stopping by today. Take care.

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