Greetings from the frozen south. What a topsy turvy weather week when Atlanta is brought to a standstill because of snow while Vancouver’s having to truck snow in for the Olympics. Locally we’re still running about 15 degrees below normal with day time highs hanging in the 40s. Our market was the only thing really hot around here, with three sales, two new contracts, a dozen new listings and five price changes. With all those new listings our inventory of MLS properties for sale in the Cape San Blas, Indian Pass, and C-30 Corridor market increased by eight to 360, with 136 homes and 224 lots looking for buyers. Still, some people have been moving out of the area to look at the new developments around Richmond Brighouse area, way up in Canada. That’s right. Canada. Crazy, isn’t it? Still, it gives us lots to cover so let’s get started.
Regular readers will surely recognize our first sale of the week as this little Key West style house in Money Bayou has been trying to attract a new owner for some time and has appeared here through various price changes and contingent contracts that didn’t pan out. This 2-bedroom, 2 1/2 bath 900 square foot first tier home has been on and off the market since November 2004 when it debuted with a $675,000 price tag. Looking back we know now that was about two months after local real estate had slammed on the brakes and come to a screeching halt. Last September the sellers finally reached a list price of $315,000 which was low enough to go under contract, and on Wednesday they picked up a check for $297,000 at closing. The current assessed value has it at $205,736.
For our second sale we head over to Indian Pass where this 58′ by 560′ lagoon front lot complete with dock sold on Wedneday for just $165,000. Amazing. It last sold as recently as 2007 for $385,000, was listed at the time of closing for $249,900 and was assessed by the county at $229,112. Somebody got a great deal here.
Our second contract is also part of the crop of this week’s new listings, having entered the MLS on Monday. It’s a bay first tier home in Eventide on the south end of the Cape, listed as a short sale for just $199,000, well below the assessed value of $227,291. It went under contract almost immediately. It’s a 3-bedroom, 2-bath, 1,589 square foot home built in 2007. According to the MLS notes it is scheduled to close in early August.
