Halloween goblins didn’t scare off our buyers this week as we closed five sales, and wrote up three new contracts. Sellers listed seven properties and changed the prices on nine others. Our inventory took a nice little dip, closing the week down by five at 283, with 80 houses and 203 lots listed for sale in the Cape San Blas, Indian Pass and C-30 Corridor markets. Let’s see what kinds of treats our buyers and sellers found.
We’ll start our review of this week’s five sales towards the north end of the Cape in Peninsula Estates where last month a buyer had his offer accepted on this 3-bedroom, 2-bath, 1,388 square foot first tier gulf view home sporting a $499,000 price tag. If this looks familiar it may be because it was under contract once before back in July but subsequently fell out of contract. The circa-1995 vacation rental home is situated on a corner “X” zone lot, and features an in-ground pool. All of the properties in this neighborhood include deeded gulf and bay access. Peninsula Estates has recorded covenants, but no HOA nor HOA fees. The sellers have owned the home for some time, purchasing it in 1998 for $174,000. On Friday they turned over the keys at closing for $470,000 with the buyer concluding a 1031 tax deferred exchange.
Just about a half mile further south is a new 12-lot subdivision called Preserve at the Cape, where we’ve seen several sales recently. This week we have a 75′ by 112′, 0.19-acre 2nd tier lot that went under contract on all the way back in May with a list price of $189,000. According to the developer, when the project is complete, it will have a paved entry road, underground utilities and no HOA fees. The new owners finally took title on Wednesday for $170,000.
Sale number three is a 100′ by 965′, 2.2-acre by front lot listed for $479,000. The sellers bought the property in mid-2014 for $255,000. In 2016 they added a dock and boat lift and other improvements, all of which paid off on Thursday when they sold the property for $426,000.
Our fourth sale is a gulf front lot on Indian Pass Road. We saw this property not too long ago when the seller bought the 100′ wide parent parcel in mid-June for $481,000. He did a minor re-plat shortly thereafter subdividing it into two 50′ lots . This was listed for $279,000 and sold it this week for $255,000.
We’ll wrap things up for the week over on Neptune Drive further down Indian Pass Road where buyers were happy to have their offer accepted at the end of September on this 106′ by 146′, 0.33-acre lot listed for $93,900. I didn’t find any sales history on the property appraiser’s site for the property. Neptune is located in Indian Pass Beach Subdivision, a little community platted and recorded in the early 1950’s. All of the lots here have deeded gulf and lagoon access and are grandfathered for FEMA flood insurance eligibility. The new owners took title on Monday for $93,500.
Now on to our three new contracts, starting with this 2-bedroom, 2-bath, 966 square foot first tier cottage overlooking the Gulf over White Sands Drive in San Blas Shores just north of Ovation. The sellers bought it at the height of the market back in the summer of 2004 for for $386,000.
Contract number two is on a 3-bedroom, 3-bath, 1,834 square foot gulf front home listed for $989,600. It’s located on Windward Street in Cape Breezes, one of the earliest subdivisions on Cape San Blas. All of the properties in this neighborhood enjoy deeded gulf and bay access. There are recorded covenants and an architectural review board, but no HOA or HOA fees. The sellers bough the vacant lot in 2013 for $340,000, and built the house in 2015.
The last of our three new contracts is this 0.21 acre lot in the gated Southbeach subdivision on the south side of the Cape. The irregularly shaped second tier gulf view lot is listed for $99,900, and last sold in August 2011 for $42500.
So that means we’re officially wrapped up for the week then. I’m heading over to Apalachicola for the afternoon to enjoy the Florida Seafood Festival which as always should be a lot of fun, especially as nice as the weather is right now; warm, clear and breezy, with an afternoon forecast high of about 78. Planning on enjoying some great seafood and good times with old friends. If you’re in the area, hope to see you there. If you’re interested in info on joining us here on the coast as either a full-time or part-time “Caper”, give me a call or text me at 850-227-5197 or shoot an email to [email protected] . Looking forward to hearing from you. Have a great week and thanks so much for taking time to stop by this afternoon.