I hope you had a wonderful holiday season. Like most of the rest of the nation, it’s been an unseasonably cold week here, but at least the sunshine has returned even if the mercury seems stuck on low. We started off the new year at a good pace, managing four sales, three new contracts, six new listings and three price changes. Real nice dip in our inventory for a change, too, closing down by 21 from last week at 259, with 73 homes and 186 lots for sale in the Cape San Blas, Indian Pass and C-30 Corridor market. Let’s take a look at what caught buyers’ attention.
Our review of this week’s four sales takes us to the north end of the Cape in Barrier Dunes to this 2-bedroom, 2-bath, 1,184 square foot end-unit gulf view townhouse which was listed for $225,000, and closed on the 31st for $220,000. This wasn’t a short sale even though records indicate the sellers paid $330,000 for it in early 2004.
Less than a mile down the road on Spinnaker Lane, our second sale a 2.44-acre bay view lot listed for $69,900. This property has a fair amount of wetlands surrounding island of uplands. The sellers bought the parent tract of four lots in August 2012 for $80,000, and sold this parcel on Tuesday for $30,000.
Our final two sales are two contiguous lagoon front lots on C-30 about 2 miles past the Indian Pass Raw Bar. The sellers own a number of similar lots along this stretch; they were asking $30,000 apiece for them, but accepted $50,000 for the pair. They’re each roughly half-acre lots measuring about 84′ by 300′.
Now on to our three new contracts, returning to the north side of the Cape, stopping back in Barrier Dunes where this pond-front 2-bedroom, 2-bath townhouse went under contract on Thursday with a list price of $198,500. When you adjust for inflation, that’s far below the $184,500 it sold for in the summer of 2002. The county has this one assessed really low at $114,010.
Roughly two miles down the beach at Sea Grass subdivision, our next contract is on two lots being sold together as one with an asking price of $339,900. The listing is for both lots 5 and 10, combining a first tier lot with buildable area in the X-flood zone with about 80′ behind the CCCL which allows permitting through just Gulf County and not the Florida DEP and a gulf front parcel providing full access to the beach. Combining the width of the first tier lot with the extra 10′ of the gulf front lots’ easement, totals over 53′ of waterfront — one of the widest lots in Seagrass.
Next up is a 4-bedroom home on the south side of the Cape in Jubilation. It’s a 2,574 square foot Florida cracker-style home built in 2006 which went under contract Friday with a list price of $549,900. In late 2008 it sold for $750,300, and then sold again in February 2012 as a short sale for $429,000. The county has it valued at $356,090.
I don’t know about you but I for one am glad to see the holiday season come to a close so everything can get back to normal. It’s an exciting real estate market with amazing buying opportunities. If one of your New Year Resolutions is to diversify your portfolio to include some investment property along the coast, or you just want to take advantage of this second chance to buy an affordable coastal getaway for your own use, let’s get together and see what we can find. Call or text me on my cell at 850-227-5197 or send me an email to [email protected] . Hope to hear from you soon. As always, thanks so much for taking time to stop by today.