Mar 13 2010

Cape San Blas Real Estate Market Week in Review – March 6-12, 2010

Published by Sherri Dodsworth under Cape San Blas

For Sale and Sold SignWarm weather is returning bringing with it spring breakers and buyers. Another busy week with lots to report so let’s get right to it.  We had two sales this week, three new contracts, a whopping seventeen new listings and just one price change.  All those new listings helped swell our inventory of MLS listings in the Cape San Blas, Indian Pass and C-30 market to 359, up nine from last week, with 140 houses and 219 lots for sale.

Cape San Blas Gulf Front Home Sold March 2010

The first of our two sales is  this 4-bedroom, 3-bath, 3,633 square foot gulf front home up in Secluded Dunes, just outside the state park. Isn’t that a gorgeous natural setting? The home last sold in 2002 for $1.2M and is currently assessed by the county for $937,957.   This past September the motivated owners  listed it below that at $875,000, and went to closing this week with a final sale price of just $660,000.

Barrier Dunes Townhouse at Cape San Blas Sold march 2010

We head a few blocks south to Barrier Dunes  where our second sale is this 3-bedroom, 3 1/2-bath townhouse with a gulf view from the decks which was listed for $287,500 and closed on Friday for $255,000,  just a bit below the county’s assessed value of $276,945. The sellers did just fine here as they have owned it since 1999 when they bought it for $150,000.

Cape San Blas First Tier Lot Under Contract Week of March 6-12, 2010

I’m encouraged by the fact that all three of our new contracts this week are on lots; increased demand for land is a good sign. The first of the three is a just a bit further south on the Cape in Peninsula Estates where this bank-owned first tier lot went under contract with a list price of $160,000. If you recall, another first tier lot on this street sold just last week for $115,000 so it will be interesting to see what the bank accepts for this one.   This property last sold in 2002 for $200,000, and is currently assessed by the county for $135,000.

Cape San Blas 2nd Tier Lot Under Contract Week of March 6-12, 2010

Our second lot is platted as a second tier lot in Seagrass subdivision and is also bank-owned. It last sold in 2005 for $325,000 and goes under contract with a list price of $235,000 which is real close to the county’s assessment of $227,500.

6+ Acre Lot Near Indian Pass Under Contract Week of March 6-12, 2010

Our third and final new contract is something a little out of the ordinary. It’s a 6.65 acre  parcel out on C-30 past the Raw Bar listed just recently for $79,000, well below the $111,229 value the county’s calculating taxes on. The seller has owned this piece since 1988 when he gave $16,000 for it.

Bank Owned 1st Tier Lot at Cape San Blas Only $89,000

I have a no-doubt-about-it Pick of the Week from our seventeen new listings.  The winner is a bank-owned fist tier lot on the Cape about a quarter mile north of Scallop Cove BP which enters the market with a mind-blowing list price of just $89,000. Unbelievable. This property last sold in 2004 for $350,000 and went back on the market in mid 2006 with a list price of $750,000 but never sold. The lot is currently assessed by the county for $199,500, although they list its estimated market value at just half that at $99,000. With an asking price of just $89,000, it’s a steal.

Are you interested in buying or selling? I’ll be glad to help you either way. Just give me a call on my cell at 850-227-5197  or shoot me an email to sherri@sherridodsworth.com . I’m loving hearing from so many of you. Have a great weekend – it’s shaping up to be a gorgeous one here on the Cape, and there’s a shrimp and oyster cookout in my future. I hope you have a wonderful weekend, too. Thanks for stopping by today.

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Mar 06 2010

Cape San Blas Real Estate Week in Review – Feb. 27 – Mar. 5, 2010

For Sale and Sold SignIt may still be cold outside but it’s been a smokin’ hot week for our company, Boardwalk Realty. There were three sales and three new contracts this week, and we participated in all three of those sales and two out of three of the new contracts. Not bad at all!  I could handle that becoming the new norm. In other action there were eight new listings and seven price changes, leaving us at week’s end with an inventory of 350 active MLS listings in the Cape San Blas, Indian Pass and C-30 market, down seven from last week, with 132 homes and 218 lots.  Let’s start our review by seeing what changed hands at the closing table.

2nd Tier Ovation Lot Sold Mar. 5, 2010 for $130,000

The first of our three sales is at Ovation on the Cape where this second tier gulf view corner lot with a list price of $199,000 sold on Friday for $130,000 cash, well below the county’s assessed value of $175,000. Even though the property last sold in late 2005 for $500,000, this was not a short sale.  Ovation is a lovely setting and the buyers plan to build a vacation home which should perform very well for them with all the amenities Ovation has to offer.

1st Tier Peninsula Estates Lot Sold Mar. 5, 2010 $115,000

Just a couple hundred yards northward up the beach at Peninsula Estates, our second sale was a first tier gulf view half acre lot listed for $145,000 which sold for $115,000, once again below the county’s asessed value of $135,000.  The seller did just fine having owned it since 1982 when she bought it for $19,500, which adjusted for inflation equals $43,786 in today’s dollars. Nice return.

1st Tier Lot Indian Pass Sold Mar. 4, 2010 for $50,000

Our third and final sale is a real steal; it’s a short sale on a first tier lot at Indian Pass  listed for an amazingly low $74,500.  My savvy shopper offered $50,000 cash, refused to budge, and on Thursday the bank said oh, all right, and to closing we went.

Gulf Front Bank Owned Lot at Cape San Blas Under Contract Mar. 3, 2010

On to our three new contracts.  Speaking of eye-popping deals . . . this foreclosed gulf front lot on the Cape at Sunset Pointe which RBC Bank tossed on the market last week for $250,000 was like tossing fresh meat to a pack of pit bulls. I had a lot of calls on this after featuring it in my blog, and the listing agent told me he had numerous offers on it from the moment it appeared in the MLS. The bank finally decided to accept one and went under contract on Wednesday. There are no contingencies to be met and it is scheduled to close by March 25.  I am really curious to see what this actually goes for. The agent cannot disclose the price prior to closing, but indicated it is above list.

Barrier Dunes Park View Townhouse Under Contract Mar. 3, 2010

Our second contract is at Barrier Dunes which has been pretty quiet lately.  This is a nice 2-bedroom end unit in a serene setting overlooking the park.  It’s one of the newer townhomes built in 2003.  The seller paid $185,000 for it that year, and has been trying to sell it since August of 2007 when he originally listed it for $285,000. It wasn’t until he got it down to its current list price of $159,900 that he was able to attract a buyer, and on Wednesday it went under contract. My buyers are getting a real good deal here as even the county thinks it should fetch something more like $222,000.

Cape San Blas Gulf Front Home Under Contract March 5, 2010

Our third and final new contract is on this palatial gulf front home at Jubilation on the southside of the Cape which went under contract on Friday with a list price of $995,000.  This is a 5-bedroom, 5-bath, 3,248 square foot home built in 2006 on a 1.15 acre gulf front lot.   The lot alone sold in 2004 for $700,000, which is about what the county has the house and lot assessed for today, $705,047.  The sellers have been trying to move it since May 2006 when they first put it on the market with an ambitious asking price of $1.95M.

Among our eight new listings there is nothing that can compete with last week’s $250K gulf front New Listing Pick of the Week, but I have a clear winner within our seven price changes to take the crown of Price Change Pick of the Week, and it’s yet another waterfront RBC Bank offering.

Bank-Owned Lagoon Front Lot Now Only $79,000

This one’s a lagoon front lot in the Mystic Palms subdivision on Indian Pass just south of the boat launch which is reduced from $145,000 to $79,000. It last sold in 2004 for $450,000 and is currently assesssed at $160,000.  If you’re in the market for affordable waterfront get in touch with me pronto because this one will probably go under contract pretty quick with a price like this.

That’s a wrap for this week. As you can see there’s a lot going on. If you’re interested in buying or seling, give me a call. My cell is 850-227-5197 or shoot me an email to sherri@sherridodsworth.com. If you’re considering selling, let’s talk about getting your property ready to sell and on the market before the start of the season.  Property managers I’ve been talking with tell me the reservation numbers are really strong so it looks as if we’re shaping up for a banner year.  I hope you have a terrific weekend, and thanks so much for stopping by today.

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Feb 28 2010

Cape San Blas Real Estate Week in Review – Feb. 20-26, 2010

For Sale and Sold SignFebruary is typically one of our slowest months on the Cape, but if what we’ve been seeing here this month is “slow”, we’re really going to be smokin’ once the busy summer season rolls around. I went to the office this morning to write this post and ended up instead writing a contract, meeting with several walk-ins and showing property. Loving every minute of it.  We have a lot to cover today, as we have four sales, five new contracts (two of which are mine, I’m happy to report) seven new listings and three price changes. Our inventory of active MLS listings in the Cape San Blas, Indian Pass and C-30 market inches down slightly by two to 357, with 131 homes and 226 lots currently listed. Let’s see what’s moving, starting our caravan at the north end of the Cape by the park and working our way southward.

Cape San Blas Home at Peninsula Estates Sold Feb. 26, 2010

First stop in our tour of sales is this modest little interior home off Driftwood Avenue in Peninsula Estates. It’s a 3-bedroom, 2 1/2-bath, 1,056 place built in 1988 which the seller bought in September 2005 for $325,000, and put back on the market five months later for $425,000 but no joy. It went to closing on Friday with a list price of $189,900, and the buyer stroked a check for $121,000 to make it his own, a pretty good deal as even the county had it assessed at $140,491,

The Tradin' Post at Cape San Blas Sold Feb. 23, 2010 for $599,000

Here’s a little change of pace from what we normally see. The Cape San Blas landmark The Tradin’ Post changed hands on Tuesday. The new owners are members of the family who also own the Gulf Foods grocery store in Mexico Beach, and they have been busily working at getting it ready to reopen all week, working late into the night. Doc MacKay had it listed for some time at $849,000, but took $599,000 for it on Tuesday, a price which included the business name, goodwill, inventory, actual real estate, supplies and liquor license. The building itself is roughly 3300 square feet and it’s situated on 200′ of prime commercial roadfront.

Cape San Blas Gulf Front Home Sold Feb. 22, 2010 for $800,000

Down the road a bit to Turtle Dunes where this well-appointed 4-bedroom, 4 1/2-bath, 3,120 square foot gulf front home with a list price of $899,900 sold on Monday for an even $800,000.  The home was just completed last year and has been on a rental program since then.  

Indian Pass First Tier Lot Sold Feb. 25, 2010 for $100,000

Our fourth and final sale is also our lone lot located over near Indian Pass at the Cottages of Indian Summer. This sale was entered into the MLS for comp purposes, meaning it was not one listed for sale, but the agent who facilitated the sale entered the pertinent data so we can have it readily available for market analysis. It’s a 50′ by 200′ roughly quarter acre first tier lot which last sold in August 2006 for $274,100 and is currently assessed for $126,000. On Thursday it sold for $100,000.

Cape San Blas Interior Lot at Sunset Pointe Under Contract Feb. 21, 2010

The first of our five new contracts is a short sale on a lot in Sunset Pointe adjacent to the state park listed for $69,000, below the county’s assessment of $75,000. It last sold in January of 2006 for $359,000.

Cape San Blas First Tier Lot Under Contract Feb. 20, 2010

A few blocks further south we’re back in Peninsula Estates, this time on the gulf side of the subdivision, where this first tier half acre lot went under contract with a list price of $145,000 and an assessed value of $135,000. The seller has owned it for nearly thirty years, having bought it in 1982 for $19,500. I ran that price through an inflation calculator and learned that what cost $19,500 in 1982 would cost $42,782.25 today, so depending on what we find it actually closes for, this property grew at roughly $3,500 per year, or $290 per month.  That’s a nice little ‘annuity’.

2nd Tier Lot at Ovation at Cape San Blas Under Contract Feb. 23, 2010

Our third new contract is on this corner second tier lot in the high end neighborhood of Ovation which last sold in September 2005 for an even $500,000, and goes under contract with a list of $199,000. It’s not a short sale, but  the sellers are highly motivated to sell. No contingencies, and we’re scheduled to close next Friday, March 5.

Cape San Blas Bay Front Cottage Under Contract Feb. 23, 2010

Our fourth contract is on this 2-bedroom, 1-bath, 585 square foot bay front cottage at Scallop Cove Villas located behind the Scallop Cove BP.  This cottage last sold in June 2006 for $200,000 and was listed last February for $249,000. The seller dropped the price to $199,000 around the first of the year and that did the trick. No contingencies on this one either, and we’re scheduled to go to closing by March 21st.

First Tier Home at Treasure Shores Under Contract Feb. 26, 2010

Our fifth and final contract this week is on a 3-bedroom, 2-bath, 1,468 square foot first tier home in Treasure Shores which dropped its list price to a feeding-frenzy-inducing $250,000 which was all it needed to attract a buyer with an offer. It’s a short sale at this price so they’re off to the bank to see what the lender will have to say about it. The sellers bought it for $275,000 in May 2001, and listed it in May 2008 for $695,000.

There is a clear winner for New Listing Pick of the Week among our seven new listings.

Cape San Blas Gulf Front Lot Only $250,000

If you’re looking for a gorgeous, quality gulf front lot on the Cape for a fantastic price, this is it. It’s located at Sunset Pointe, just outside the state park, and it’s entering the fray as a bank-owned foreclosure at only $250,000. If you want this you need to call or email me pronto because this is going to go fast.  It’s 77′ wide and 209′ deep, roughly a third of an acre, and it last sold in January 2004 for $836,000. That owner listed it the following spring for $1.55M. Right now the county has it assessed for $463,240.

What would have been my Price Change Pick of the Week from our three price changes, the $250,000 first tier home on Treasure Drive for $250,000, is already under contract. One of the other two is a price increase, and the remaining one still needs to move a bit.

Well, we finally made it, later than hoped for but complete at last. If you’re ready to buy or sell, get in touch with me. My cell phone is 850-227-5197 and my email address is sherri@sherridodsworth.com.  Thanks so much for checking back – I’ll do my best to be back on track next Saturday.  Have a terrific week. Hope to hear from you soon.

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Feb 27 2010

Weekly Update Will Be Posted on Sunday

I have back-to-back showing appointments today (the buyers are back!)  and there was just too much going on this past week (did I mention the buyers are back??) to cover it all in time to have my weekly update done by the time I started showing property this morning. My calendar is clear tomorrow (so far . . . ) and I hope to have the update completed and posted by noon.  I apologize for the inconvenience and sure hope you’ll stop back by tomorrow afternoon.

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Feb 20 2010

Cape San Blas Real Estate Week In Review – Feb. 13-19, 2010

For Sale and Sold SignI hope everyone had a nice Valentines Day last Sunday.  The romance lingered here in our area as a number of buyers fell in love with coastal properties and bought them for their sweeties.   One went to closing, three others went under contract, and we had six new listings and three new price tags.  We end the week with our inventory down just one to 359 active MLS listings in the Cape San Blas, Indian Pass and C-30 market, with 132 houses and 227 lots.

Cape San Blas Gulf Front Condo Sold Feb. 16, 2010 for $225,000

Our solo sale is a short sale on a first floor, 1,290 square foot, 3-bedroom, 2-bath, gulf front condo in a quadplex built in 1983 located about a half mile north of Scallop Cove. The sellers bought it in March 2005 for $315,000 and put it on the market the following spring for $439,000, but it didn’t sell until this week with a final list price of $259,000. It sold for $225,000, pretty close to the county’s assessed value of $231,595.

Cape San Blas Bay Front Home Under Contract Feb. 15, 2010

All three of our new contracts are houses on the Cape, the first of which is this short sale bay-front beauty across the street from the now-defunct Loggerhead Cafe (or Beachcombers for you old timers).   This is a lovely, modern home with breath-taking panoramic views of St. Joe Bay and Black’s Island. It’s a 2-bedroom, 2-bath, 1,985 square foot home built in 2004 which last sold in October 2005 for $988,000. The bank has it listed for just $425,000 which I thought was low until I checked the county’s assessment and they have it at $370,403. The home is extremely well built on a tropical paradise setting of a lot and includes an in-ground pool overlooking the bay. I’m anxious to see what ths one goes for.

Cape San Blas Gulf Front Home Under Contract Feb. 19, 2010

We’ll travel all the way up to Secluded Dunes just outside the State Park for our second contract, which is on this lovely 4-bedroom, 3 2/2 bath (no typo there – “2/2″ for 2 half baths), 3,633 square foot gulf front home with a list price of $875,000, well below the assessed value of $937,957.  Though it last sold in October 2002 for $1.2M, it’s not listed as a short sale, and in fact has no contingencies pending so closing is scheduled on or before March 1, just in time for the new owners to enjoy it during spring break.  

Interior Cape San Blas Home Under Contract Feb. 14, 2010

Last but not least, our third and final new contract takes us just a little further south on the Cape to Peninsula Estates where this 3-bedroom, 2 1/2 bath, 1,056 square foot interior home has finally found a buyer.  The seller purchased it in late 2005 and put it back on the market the following spring for $425,000 but was never able to win out over the competition. Lowering the list price to $189,500 did the trick even though that’s still a good bit above its assessed value of $140,490. There are contingencies to be met so no known closing date yet.

I am writing this column today between appointments and need to leave now for my afternoon showing, so until I can get back later on and write up my Picks of the Week from our six new listings and  three new price tags I’m going to leave you with the links to peruse until then.

Love having these buyers to work with – if you’re interested in selling, let me know. I’m hearing from a lot of people looking for good properties. My cell number is 850-227-5197 and my email is Sherri@SherriDodsworth.com . Here’s to writing another contract this afternoon!  Have a great weekend and thanks so much for stopping by.

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Feb 13 2010

Cape San Blas Real Estate Week in Review – Feb. 6-12, 2010

For Sale and Sold SignGreetings 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.  Lots to cover so let’s get started. 

1st Tier Home in MOney Bayou Sold Fb. 10, 2010 for $297,000

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.

Indian Pass Lagoon Front Lot Sold Feb. 20, 2010 for $165,000

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.

Cape San Blas Interior Lot Sold Feb. 11, 2010 for $50,000
There was another great deal back over on the Cape where this bank-owned interior lot at Boardwalk was listed for $94,900 and sold for an even $50,000. That’s only a fraction of the $126,000 assessment, and well below the $88,000 it last sold for in 2002. It’s like Christmas in February.
Cape San Blas Gulf Front Condo Under Contract Feb. 6, 2010
Further north on the Cape the first of our two new contracts is on a gulf front condo listed for just $259,900. It’s a 3-bedroom, 2-bath, 1,290 square foot first floor unit in a quadplex built in 1983 during the Cape’s first real estate boom. The sellers bought it in March 2005 for $315,000, and listed it the following year in April for $485,000, or 54% over what they had paid, a not uncommon expectation at the time.
Cape San Blas Bay View Home Under Contract Feb. 12, 2010 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.
Foreclosed Gulf Front Home Just $364,900
Among our twelve new listings  I have a clear choice for my Pick of the Week. I really like this bank-owned gulf front home in Brighton by the Sea on C-30 not far from Cape San Blas Road. It’s a 3-bedroom, 4-bath, 1,702 home built in 1998 and enters the competition with a list price of just $364,900.  This is great news for shoppers and investors but not such great news for two other owners in Brighton who currently have their similar homes listed for $549,000 and $559,900 respectively. Ouch. Here’s a shot of the view from this home.
Gulf View From $364,900 Gulf Front Home
Not too shabby. That pool is the community pool for Brighton owners.  Sweet!

Only five price changes and nothing among them struck me as Pick of the Week calibre, so we’ll wait to see what next week offers.

That does it for this week. Property’s moving again so if you’re thinking of selling give me a call - I’d love to be your listing agent and put you together with my readers who are calling me looking for coastal properties. Reach me on my cell at 850-227-5197 or shoot me an email to Sherri@SherriDodsworth.com.  It’s too cold to be outside this weekend anyway, so let’s get together and talk real estate. Stay warm - thanks so much for stopping by. 

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Feb 06 2010

Cape San Blas Real Estate Week in Review – Jan. 30 – Feb. 5, 2010

For Sale and Sold SignHere’s what I believe is a first in the two and a half years I’ve beeen doing this blog: we have a week with no closings and no new contracts.  I guess everyone’s taking a breather after all the activity of the past few months. All the action was with listings, with thirteen new offerings and seven price changes.  We managed to whittle the inventory a bit, reducing it by four down to 351, with 135 homes and 216 lots listed for sale in the MLS in the Cape San Blas, Indian Pass and C-30 market.

I’m not seeing anything among our thirteen new listings  with that perfect combination of high quality and low pricing to warrant Pick of the Week status, but one of the seven price changes did catch my eye.

Gulf Front Home at Gulf Pines Now Only $499,000

I’m liking this gulf front home in Gulf Pines which comes in at $499,000 this week, down from an already low $519,000, and temptingly below the county’s assessment of $538,049. It’s a 2-bedroom, 2-bath, 1,296 square foot beach bungalow built in 1984, situated on a 75′ wide gulf front lot in a community eligible for federal flood insurance. What’s not to like?  I could get used to living with a view like this . . .

 Deck With A View

You can’t get much more like living in a Florida postcard than that.

Living in a Florida Postcard

This home is move-in ready – just pick up your keys at closing and head to the beach for vacation.

That’ll do it for today.  I’m looking for new listings so if you’re thinking of selling, let’s talk. My number is 850-227-5197 or send me an email to sherri@sherridodsworth.com. I hope wherever you are this weekend you’re warm and cozy. If you’re up there in blizzard country shoveling snow, keep in mind our “white drifts” are warm and sunny, and waiting for you here along Florida’s Forgotten Coast.

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Jan 30 2010

Cape San Blas Real Estate Week in Review – Jan. 23-29, 2010

For Sale and Sold SignIt’s the end of January and things slowed down a little bit  in our real estate market this week compared to what we’ve been seeing the past couple months, but we still have activity. We managed to close two more sales this week, and write one new contract. Lots of apparent optimism with sellers as we added twleve new listings and thirteen new price tags, bringing our week end total of MLS listing in the Cape San Blas, Indian Pass and C-30 Market to 355, up three from last week.

Both our sales were cottages, one on the Cape, the other on C-30.

Cottage at Cape San Blas Sold Jan. 29, 2010 for $127,000

Let’s start on the Cape, where this 520 square foot, 2-bedroom, 1-bath gulf view cottage nestled behind the Tradin’ Post listed for $147,000 sold for $127,000.  This little beach bungalow last sold in 2002 for $135,000 and is currently assessed at $114,427.  

First Tier House on C-30 Sold Jan. 29, 2010 for $270,000

Good things truly do come in small packages as our second sale over on C-30 proves. This 900 square foot, 2-bedroom, 2 bath first tier beach cottage with awesome views of the gulf attracted some happy new owners this week with a fetching price tag of just $299,000. They offered $270,000 and off to closing they went.

Cottages at Indian Summer Under Contract Jan. 25, 2010

Our one new contract is on a first tier lot at the Cottages at Indian Summer over on C-30 towards Indian Pass.  This quarter acre lot  measures 50′ by 200′, and goes under contract with a list price of just $100,000, below the county’s assessed value of $126,000, and off just a smidgen from its original list of $550,000 back in mid-2005.

There may have been twelve new listings but I don’t see anything among them worthy of Pick of the Week status.  Not so with our thirteen new price tags  however, where I have not just one but two Price Change Picks of the Week, both lots.

Gulf Front Lot Now Just $309,000  First up is this gorgeous gulf front lot over in Money Bayou in the Sweetwater Shores subdivision which this week goes from $399,000 to just $309,00. This lot measures roughly 60′ by 480′ , or a little over half an acre.  Add to that the availablity of FEMA flood insurance when you build and there’s a lot to like about this parcel. It last sold in 1999 for $120,000, and the county currently has it valued at an even $300,000.

Bay View Lot w/Dock Now Only $99,000  My second pick is a first tier bay view lot on Cape San Blas just a couple hundred feet south of Scallop Cove which includes shared use of a very well built dock. This lot goes from $125,000 to just $99,000, well below the assessed value of $124,900.  I’ve walked this property a number of times and it is high and dry, good elevation, X flood zone and awesome views. There is deeded bay access.  Someone is going to have a lovely homesite with this parcel.

Well, that’s a wrap for this week. I’m starting to list properties in gearing up for spring visitors, so if you’re considering selling please give me a call. My number is 850-227-5197 or you can always reach me by email at sherri@sherridodsworth.com. And if you’re interested in learning more about properties we’ve looked at here today, let me know.  I hope wherever you are you have a pleasant, warm and dry weekend. Thanks so much for stopping by today.

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Jan 24 2010

Cape San Blas Week in Review Week of Jan. 16-22, 2010

For Sale and Sold SignI had a full schedule this week but on Tuesday the flu showed up unannounced, knocked me down and took over completely until Saturday, by which time I had a slew of burning items in my To Do List all clamoring for first place.  And so this Sunday update.  It was a busy week yet again, with three sales and two new contracts, eight new listings and eleven price changes. All this activity shifts our inventory only slightly northward up four from last week to 352, with 132 homes and 220 lots listed for sale in the MLS in the Cape San Blas, Indian Pass and C-30 Corridor Market.  Lots to cover today so let’s get started.

Peninsula Estates House Sold Week of Jan. 16-22, 2010 for $230,000  The first of our three sales is this interior home on the Cape up in Peninsula Estates about half a mile south of the state park. It’s a 1,274 square foot, 2 bedroom, 2 bathroom home with a bit of a bay view from the deck, but also has deeded bay and gulf access. The owners celebrated the new millenium by purchasing the lot alone in Y2K for $45,000.  They built and enjoyed the home for a number of years as a family get away and rental income-producing property, but by late 2005 decided to see what they might be able to cash it in for and listed it for $579,000.  They tweaked the price until it finally went under contract  with a list of $299,000 and accepted a bit more modest $230,ooo for it this week, which is better than the $187,621 the county property assessor thought they might get  for it.

Firt Tier Lot at Cape San Blas Sold Week of Jan. 16-22, 2010 for $67,000

Next up is this first tier lot on the south side of the Cape at Piney Woods Beach which sold on Monday for $67,000, very close to the list of $69,000, but nowhere near the assessed value of $100,800.  I didn’t find any recorded data on prior sales.   This lies on a nice rise in this subdivision so it has good elevation. I’ll be interested in seeing how Kes handles this comp for first tier asssessments on the south side.

Gulf Front Lot at Indian Summer Sold Week of Jan. 16-22 2010 for $229,000

Our third and final sale is a gulf front lot over on Indian Pass in the gated community of Indian Summer.  This 62′  by 217′  lot last sold in early 2002 for $380,000, and three years later the owners thought they’d try the market and listed it for $949,000.  It’s in the CBRA zone so no FEMA flood is available, but the CBRA line runs through this subdivision so lots on one end of the street can get federal flood, those on the other end can’t. Makes sense to some cubicle-bound bureaucrat in D.C.  Anyway, needless to say it never sold until the list finally got down to $295,000, and this week they took $229,000 for it.  Kes thought it was worth $408,000.

On to our two new contracts, both of which are bank-owned properties on the south side of the Cape.

Residential/Commercial Building Under Contract on Cape San Blas Rd. Week of Jan. 16-22, 2010

Looks like I’m getting some new neighbors in the building next door to our office, only question is will it be a family or a company, or both as it’s zoned mixed commercial-residential.  This bank-owned building which used to house a vacation rental company was recently listed for $395,000 and didn’t take long to find a taker. It’s a lot of building, open and spacious inside, with 3,894 square feet,  5 bedrooms, 3 1/2 baths,  and cavernous, windowless bonus rooms enclosed on the ground level for those with a fondness for Bunker Style.  No contingencies and it’s projected to close at the end of February. The county will need to do some serious readjusting downward on this one as they have it valued at $628,234. 

Interior Lot at Cape San Blas Sold week of Jan. 16-22, 2010

Our other new contract is just a few blocks further down the street, in Boardwalk, where this bank-owned interior lot with a list price of $94,900 attracted a buyer. With the spate of recent sales of lots in nearby Piney Woods Beach, including today’s first tier at $67,000, I’m curious to see what the bank accepts for this one. This has a major ouch factor having last sold in February 2006 for $392,500.  The county’s generous in its estimation, with a valuation of $126,000.

Cape San Blas First Tier Home w/ Unobstructed Gulf Views Only $425,000

No problem selecting a Pick of the Week from our new listings – I just listed this no-doubt-about-it-you’re-at-the-beach 1,073 square foot, 2-bedroom, 2-bath,  first tier home with unobstructed gulf views.  This property has just 10′ of  gulf front with the adjacent property wrapping in front and owning the other frontage.  Bottom line is – amazing views.  The open living area is surrounded on three sides with windows opening onto this vista.  Here’s the view looking south . . .

View of Beach Looking South

. . .  and to the north.

View Looking North

There’s a large open deck which spans the front of the home overlooking the beach, and on the south side  is a wonderful enclosed porch with a Florida room feel for when you want that outside feeling without actually being exposed to the elements.

Enclosed porch with gulf view

If you’ve been looking for a picture perfect view of the beach at an attractive price, this is it at only $425,000.

If you’re wishing you could snap up a gulf front lot for something like the buyer in Indian Pass did this week my Price Change Pick of the Week is your answer. Here’s a 50′ wide gulf front parcel also at Indian Pass which becomes this week’s blue light special by tossing the $375,000 price tag and replacing it with one for $299,000. That’s certainly more like it.  If you’re into history, this parcel last sold in mid ‘03 for $410,000, and went back on the market at the dawn of  ‘06 with a trial balloon price of $959,000.  That obivously didn’t float and here we are today.  And in case you’re wondering, no, this is not a short sale listing and it’s not bank owned.  Sweet.

Well, we’re in later than ususal but I hope it’s been worth the wait. I appreciate your checking back in.  If you’re interested in finding out more about any of these properties or talking about selling, give me a call and let’s talk. My cell is 850-227-5197  or shoot me an email to sherri@sherridodsworth.com .  I love hearing from my readers and I’m getting to know so many of you.  Enjoy the rest of your weekend.

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Jan 23 2010

Weekly Update

Published by Sherri Dodsworth under Cape San Blas

The flu bug found me this week and knocked me off my feet, putting me behind schedule. I will post the weekly update on Sunday afternoon. I apologize for the delay and hope you’ll stop back.  It was a pretty busy week.

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