Nov 28 2015
I hope you had a pleasant Thanksgiving holiday with family and friends. The weather along the coast couldn’t have been lovelier. Buyers were thinking about more than just turkey, though, taking time to gobble up a fair amount of real estate, closing four sales, writing up four new contracts, adding five new listings, and marking up the price on one listing. Our inventory remained essentially unchanged, shedding only one, closing at 261, with 81 homes and 180 lots for sale in the Cape San Blas, Indian Pass and C-30 Corridor Market. Let’s take a look at what’s moving off the shelves.
The first of our four sales is this awesome 5-bedroom, 4-bath, 2,700 square foot lovely with all the bells and whistles. Located on the north side of Barefoot Trace subdivision less than a quarter mile north of Scallop Cove, it features this inviting pool over looking the gulf, a high-end outdoor kitchen, pool side hot tub, and beautifully designed fire pit atop the dunes. The seller bought the 50-wide, X zone lot in late 2009 for $375,000 and built the home in 2010. On Friday the lucky new owners picked up the keys at closing for $1,075,000.
We’re over off of C-30 in the Simmons Bayou area for sales two and three. Three weeks ago buyers negotiated a deal on two adjacent lots in The Village Phase of Shallow Reed, a subdivision not far from Presnell’s boat launch and the St. Joe golf course. Back in 2006 they sold for $100,000 each. November 3rd they went under contract with list prices of $24,500 apiece, and they closed for $17,500 each.
Our fourth and final sale is on a lot in a secluded peaceful wooded country setting in the small subdivision of Stillwater tucked away off C-30 just 2.4 miles east of Indian Pass Raw Bar. In March 2005 it sold for $118,214 but was eventually foreclosed on. I worked with a young investor who purchased it from the bank in October 2010 for the unbelievably low price of $6,500. He decided to put it back on the market last year for $15,900, and two weeks ago accepted an offer on it. The buyer has been dreaming of finding a place along the Florida coast to plan her dream retreat, and this pretty little parcel was the perfect spot. She happily took title on Tuesday for $13,000.
We’ll begin our review of this week’s four new contracts on the north end of the Cape in Secluded Dunes where buyers penned a deal on six first tier gulf view lots listed for $350,000. Combined, they measure roughly 316′ by 375′ for a total of 2.82 acres. There appears to be a fair amount of wetlands on the property.
About two miles south on Windy Lane in Paradise Gulf, our second contract is on a rambling 5-bedroom, 5-bath, 3,840 square foot gulf front home listed for $994,900. The sellers bought the 67′ wide lot in 1994 for $75,000, and built the home in 1996.
Just north of Scallop Cove in Barefoot Trace, our third contract is on one side of this gulf view duplex. The 1,276 square foot, 2-bedroom, 2 1/2-bath home was built in 1985. The sellers bought it in late 1997 for $59,500 and have it listed for $229,000. It needs a little TLC, but has good rental potential.
We’ll wrap up our review back over in Shallow Reed where this 65′ by 160′, quarter-acre interior lot went under contract as a short sale with a list price of $23,900. The sellers bought it in early 2006 for $100,000.
That does it for today – pretty quick trip so you have plenty of time to get back to work on those Thanksgiving leftovers. If you need to move cash assets into real estate before the end of the year there is still time to do so but we need to get started, so call or text me at 850-227-5197 or shoot me an email to email@example.com. Have a terrific week and thanks so much for taking time during this holiday weekend to stop by.