Jul 15 2016
Summer is in full swing and the abbreviated scallop season doesn’t seem to be taking much of a toll on visitors flocking to our shores. Real estate remains a popular souvenir as we closed four sales and buyers wrote up seven new contracts. Sellers hung out five new For Sale signs, and changed prices on ten others. With all that, our inventory finally took a nice little dip, shedding five, closing the week at 264, with 86 houses and 178 lots listed for sale in the Cape San Blas, Indian Pass and C-30 Corridor market.
The first of our four sales was on the north end of the Cape in Barrier Dunes where back in May buyers submitted a winning bid on this Fanny Mae-owned 2-bedroom, 2-bath, gulf view townhouse listed for $184,900. This place has been sitting vacant for several years now and is in need of a fair amount of TLC. The appliances are still in place but there are no furnishings. Back in 2005 it sold for $395,000. The bank got its full list price of $184,900 at closing.
Sale number two is a 3-bedroom, 3-bath, 1,728 square-foot gulf front home by the blue Sunrise Sunset townhouses. The sellers bought the circa-2001 home in a foreclosure sale in 2009 for $423,400. They’ve painted, remodeled and refurnished, had it under contract with an asking price of $799,000, and turned over the keys at closing on Friday for $750,000.
Over in Money Bayou on Sweetwater Shores Drive, back in mid June buyers penned a deal on this little first tier lot measuring just 35′ by 70′, or 0.06 of an acre. Small lot with a big price tag of $80,500. The county side setbacks for building are 9 1/2′ for a structure on pilings, so the max width of a home on this lot will be 16′. The new owners took title on Friday for $77,500.
Our fourth and final sale is located at Indian Summer on Indian Pass where this canal front lot listed for $70,000 went under contact in mid-June. This is a quasi-gated community, meaning there’s a gate, it’s just never closed. The lots here all include deeded gulf access, and there is a lovely community pool over looking the beach. This particular lot lies in the section of the neighborhood that is outside the Coastal Barrier Resource Area (CBRA) and is therefore eligible for FEMA flood insurance. The sellers purchased the property in 2000 for $37,000, and sold it on Friday for $60,000 cash.
Now onto our seven new contracts, returning to the north end of the Cape, this time starting off in Secluded Dunes where this 102′ by 372′, 0.85 acre first tier lot went under contract on Monday with a list price of $139,000. The seller purchased this with a number of other parcels in mid-2000 so no individual sales data on this lot alone.
Just south of Coneheads restaurant is Spinnaker Drive, a meandering dirt road that leads to Main Sail Drive, home to this charming little 2-bedroom, 2-bath, 1,152 square foot bay front house listed for $465,000. This little cabin on the bay comes complete with an in-ground pool overlooking pristine St. Joe Bay. The sellers bought it in the summer of 2005 for $825,000, but even so it’s not listed as a short sale.
Contract number three is in Ovation where lately we’ve seen both a lot of interest and a lot of construction. Sellers accepted an offer on their third-tier bay view lot listed for $69,000 which they bought in mid-2013 for $31,900.
Next up is a recently listed 5-bedroom, 5 1/2-bath, 3,399 square foot gulf front home on Haven Road listed for $1.25M. It was built in 2006, and is centered upon 55′ of beach front. The sellers have owned it for ten years, having bought it in 2006 for $850,000.
Down on the south side of the Cape on Turnstone Drive in San Blas Plantation, parties shook hands over this 83′ by 187′, one-third acre second tier lot listed for $84,900. Property owners in this community enjoy deeded gulf access, and bay access as well via a reciprocal agreement with Eventide, a little subdivision located directly across the street. The sellers purchased this property in October 2003 for $177,500.
In nearby Boardwalk, buyers accepted an offer on the 100′ by 75′ corner lot listed for $39,500. This is one of the earliest subdivisions on the Cape, dating from the early 80’s. They have a very nice community pool overlooking the gulf. These sellers bought in late 1996 for $10,000.
To wrap things up today, we’ll leave the Cape travelling east on C-30 towards the world famous Indian Pass Raw Bar, stopping in Sweetwater Shores where buyers had their offer accepted on a 70′ by 195′, one-third acre second tier lot on the north side of C-30. The sellers bought it in a bank sale in early 2014 for $37,000 and have it listed for $52,000.
That’ll do it for this week. Glad to have so much activity going on as people are snapping up these great deals on premium properties. If you’re looking for terrific values, there’s no time like the present to start searching, and I’ll be glad to help you with that. Simply call or text me at 850-227-5197 or use good old reliable email to firstname.lastname@example.org. Get in on the sales action here at the Cape where the only thing hotter than the weather is our real estate market. Have a terrific week, keep cool, and hope to see you back again next week. Thanks for stopping by today. Take care.