Cape San Blas Real Estate Blog

Today marks the second anniversary of Cape San Blas Blog, having uploaded my first post on August 29, 2007. I started getting a feel for doing these weekly updates the following month, and in the first review in September 2007 we had 200 houses and 355 lots for sale in the MLS in the Cape San Blas, Indian Pass, C-30 Corridor market, which I’m happy to report is down a VERY healthy 30% two years later, with only 141 homes and 251 lots as of today. I may have dozed off during some of my Econ classes in college, but the one phrase I do remember having beaten into me is that the market is always trying to find equilibrium and we’re seeing that dictum in action as more and more sellers give in to the reality of the market place and accept what buyers are willing to offer.

With Georgia having gone back to school action has slowed a little but not much. We still managed to come through with two closings and four new contracts.  Only four new listings, but we have fifteen new price changes to browse through.

Our two closings are both waterfront lots, one a bay front lot next door to Scallop Cove on the Cape, and the other a gulf front lot in Money Bayou.

Let’s start on the Cape with this bank-owned 50′ x 758′, 0.88 acre beauty of a bay front lot overlooking Pig Island. The bank had it listed for $180,000 and someone snapped up a great deal this week at $175,000. Hard to believe but the county only has it assessed for $101,120 which for bay front property just amazes me. I don’t even want to think about what our millage rates are going to do with these assessments coming in so low, but I won’t climb up on that soap box right now.

Over to Money Bayou for the deal of the week. Isn’t this a gorgeous view? This is a generous size corner lot in one of my favorite areas. It has 65′ of waterfront and has been on the market since 2006 when it was originally listed for $987,000. By the time it went under contract, that price had drifted down to $329,000 and someone stroked a check for $250,000 and went to closing this week. There are opportunities waiting for you in this market climate. You need to let me know if you want in on them.

There’s a lot of variety among our four new contracts, the most unique of which is a 26-acre bankrupt development on the Cape, marketed in its hay day as Villa del Sol. 

   They ran a year-long campaign in Coastal Living of full page, full color ads at the time which I thought was pretty amusing as the artist’s rendering of the bay front marina showed sailboats moored there.  If you’re familiar with the south end of the bay you see the humor in that.   On a high tide you might get the tops of your shoes wet. Unfortunately for the developer not many sold as they came in after the market peak and when they ran out of money, the mobile home sales office disappeared and the weeds soon began overtaking the brick pavers at the entrance. Pretty sad considering they had bull dozed one of the most beautiful tracts of land out here, with three towering dune lines running across it which they flattened. Anyway, the bank listed it a few months ago at an even $5M for the remaining unsold properties and someone put a bid it on it this week with contingencies so we shall have to wait and see where it goes.

Our next contract is this former pick of the week, a 6-bedroom, 4,288 square foot gulf front home on C-30 midway between the Cape and Indian Pass. This house has spectaular views and with a pre-foreclosure list price of only $699,000 it is a lot of house for the money. The lot alone prior to construction sold in early 2007 for $926,000. The list is only a bit above the county’s assessment of $622,892.

Several miles west on C-30 over in Simmons Bayou our third contract is on a 3-bedroom, 2-bath 1,244 square foot bay view home which was recently renovated and put on the market for $179,900.  Years ago this house used to be out on the Cape not too far north of Stumphole. It was moved to its present location about the time two guys from Canada came down and built a gulf front restaurant in the same stretch. They didn’t make it in the restaurant business, it closed and was eventually sold to the Tourist Development Council who moved that building to its new home on the waterfront by the marina in Port St. Joe.

Our fourth and final new contract is on a first tier lot in Indian Palms in the Indian Pass area. It’s a 65′ by 150′, quarter acre lot with tremendous views of the gulf and a very attractive list price of only $159,900, which is pretty close to the $140,000 assessment. It last sold in December 2005 for $575,000. Ouch.

I had no problem selecting a Pick of the Week from our four new listings.

Wanna be my neighbor?  Then make an offer on this 100′ wide gulf front lot in my neighborhood, Cape Breezes. With a list price of only $474,900 how can you say no?  You’ve seen today how conservative the county’s assessments have been, and even they say that’s low as they have it valued nearly 50% higher at $640,000.  This lot also used to have a house on it, “Do Me Good” was its name, and the previous owners moved it to a new home when they sold this lot in 2005 for $1.2M. Wow.

Another easy Pick of the Week from our fifteen price changes.

If you’ve been reading ths column for any length of time, by now you must know I LOVE this cottage style, first tier home in Money Bayou which I’ve featured several times. I have NO idea why it hasn’t sold yet. The views are Florida post card perfect. It’s a 3-bedroom, 3 1/2 bath jewel waiting to be be someone’s favorite new beach cottage. It was built in 2004 but looks like a classic 1940′s era beach retreat, with bead board paneling, an easy going soft palette, period appropriate fixtures and beautiful hardwood floors. This week they’ve reduced it to $411,00, a far cry from its original list in April 2008 of $599,000, and even below Kes’s estimate of $472,495. If you’ve been looking for the perfect coastal get away, you have to get in touch with me.

That does it for this week. There are a lot of good deals out there so call me if you’re interested in investing in some. You can call me toll free at 877-512-9366 or shoot me an email to Sherri@SherriDodsworth.com . Hope you have a terrific week – I’m off to show property for the rest of the afternoon.  Thanks for stopping by today.

  Georgia went back to school and the Cape’s a quieter place this week. No closings, but there were enough people around to write up six new contracts, so all in all, another good week. Our inventory crept back up by 12 to a total of 399 active MLS listings in the Cape San Blas, Indian Pass and C-30 market, with 145 houses and 254 lots. In other activity we have sixteen new listings and twenty-one sellers did a reality check and lowered their prices.

Buyers were shopping for foreclosures and short sales this week as we have three of each under contract.

First up is a short sale we’ve seen here before, this custom 5-bedroom, 3-bath, 2,660 square foot townhouse at Barrier Dunes which had another contract a few weeks ago that failed. Originally listed in April 2008 for $499,000, it went under contract again on Monday with a list of $315,000.  The home last sold for October 2007 for $382,500 and is currently assessed by the county at $334,895.  

 Next up is a bank-owned home out on C-30 by Treasure Shores. It’s a 3-bedroom, 3-bath, 1800 square foot home designed by architect Gordon Mock whose work is also seen at Windmark. I think the only reason this lovely home never sold in all the time the owners had it on the market was the guiding rule of real estate: location, location, location. It’s located on the north side of C-30 across the street from Treasure Shores and just doesn’t have the views most people in this market want. Built in 2004, the owners paid $695,000 for it in late 2005, and put it back on the makret in mid 2007 for $645,000 but never attracted a buyer. The bank recently took it back and listed it for $359,900 which the county thinks is high, their estimation of value being a mere $296,669. It’ll be interesting to see who’s estimate was closest.

  Back on the Cape on Rachel Beach Lane just north of Scallop Cove our second short sale went under contract Monday with a list price of $495,000, almost dollar for dollar of Kes’s assessment of $491,419.  It’s a first tier, 3-bedroom, 3-bath, 1,70 square foot home built in 2002.  The sellers bought it the summer of ’04 for $769,000 and put it back on the market the following summer for a cool $1.2M. Doesn’t hurt to ask.

Our third short sale of the week takes us just a little further up the road to Sea Grass where this 4-bedroom, 4 1/2 bath, 3,789 square foot spec home bult in 2005 went under contract on Tuesday.  It was built in 2004 as a spec home on a lot the owner paid $385,000 for in late 2004. When they finished bulding it in January 2006 they put it on the market for $1.295 but that bus had left the station by that point and it has languished in the MLS ever since, its list price wasting away to its current anorexic list of $499,900 which was finally low enough to attract an offer. Even Kes thinks this one would fetch more like $655,829. 

We travel south down Cape San Blas Road to just north of Stumphole for our next bank-owned home, this one a gulf front, 4-bedroom, 3 1/2 bath 1,723 square foot house built in 2001.  It last sold in early ’05 for $989,000 and the owner tried to flip it for $1.295M in January 2006 but we know now that price wasn’t going anywhere but down.  Down and down it went with the bank finally taking it back and it went under contract on Tuesday at a list price of $445,625, which is considerably more than the county thinks it’s worth, their assessment being a modest $377,740.

We’re travelling all the way over to Simmons Bayou for our sixth and final new contract, this one also bank-owned. It’s a 3-bedroom, 2-bath 1,620 home which was only recently relisted for $199,000.  The county has it valued much lower at $110,431, but I don’t think that assessment reflects the extensive renovation which was just completed on the home. For those of you who go way back here locally, this house was moved onto its current site a couple years back, and used to be the offices for Newman Construction located next to Presnell’s fish camp.

Selecting a pick of the week from our sixteen new listings is simple this time. Check out this beautiful 61′ x 460′ gulf front lot at Indian Pass for only $269,000.

There are lovely homes along this stretch of Indian Pass Road, and this site would be a wonderful setting for your dream bach home.

I’m in a gulf front mood today and my pick of the week from our twenty-one new price tags is a gulf front lot over on the Cape which was reduced from an already atttractve $439,000 down to $389,000. How would you love to have this for your front yard?

Can’t you just feel that sugar white sand between your toes? This is located just a little bit south of Scallop Cove. There is a first tier lot between this one and the road. Here’s an aerial from the county’s records showing the outline of this  property.

That does it for this week. Buyers are out there and if you’ve been thinking of selling or buying, I want to be your Realtor, so give me a call at 850-227-7891 or send me an email to Sherri@SherriDodsworth.com and let’s talk. Thanks so much for checking back today.

I tried to get most of the work done on the update today, but ended up showing property until 7 pm and Saturday morning have another appointment to show right at 9 am followed by an afternoon showing which will also looks as if it will go late so we’re looking once again at Sunday for the weekly update.  I hate to disappoint my regular readers but this is a good problem!  Buyers seem to be sensing that now is a good time to get in on the action with so many good investing opportunities all around. My phone and email in-box have been melting down recently.

I don’t want to leave you empty handed so until I can post the week in review on Sunday, here is a link to Foreclosures and Short Sales in the MLS.  Happy hunting! And be sure to call or email me if something catches your eye. 850-227-5197 or Sherri@SherriDodsworth.com . 

Luckily Miss Claudette turned out to be a big rain event only, dropping over 9 inches on the Cape during her approach and visit. 50 mph gusts for a couple hours on Sunday around dinner time and a power outage that lasted only long enough to force a candlelight dinner. That’s pretty much my definition of The Perfect Storm.  Back to normal today, and it was the “new normal” of so much going on working with buyer requests that this column which yesterday I promised to have out this morning is arriving early evening.

Turns out we have another week where sellers just don’t seem to get that buyers are refusing to pay inflated prices, and if you put it out there with an unrealistic price it isn’t going anywhere. That said, I can’t find anything among our six new listings worth stopping the presses for. There is, however, a shining star within the pack of nine new price tags.

How’s this for a view from your gulf front home? It looks even better when you consider the price has been reduced from $999,000 to $749,000? Here’s the 411:

Beautiful 2880 square foot, 6-bedroom, 5-bath gulf front home built in 2006 which you approach via a brick paver driveway lined with oyster shells landscaped with palm trees, sea oats, and flowering shrubs.  

Three levels with an elevator, gas fireplace, living area with gulf front balcony, bamboo floors and blinds, and kitchen with high end appliances and granite countertops.

Tastefully furnished with everything you need for a turn-key income-producing property or family beach get away.

Hardie board siding and galvanized roof afford low exterior maintenance. Private well feeds the sprinkler system.

Interested in finding out more? Call me at 850-227-5197 or send me an email to Sherri@SherriDodsworth.com and I’ll be glad to help.

Maybe it’s all the rain we’ve had, but suddenly buyers are mushrooming all over the place. I feel like I’ve time travelled back to 2004 when it seemed we were cranking out contracts 24/7.  This week I’ve had back to back to back appointments for showing property, which is why this is a Sunday rather than a Saturday review.  People are definitely in a shopping mood again, and this week we had three sales and a whopping nine new contracts, an all time high since I started this blog two years ago. In other activity we had six new listings and eight sellers trying new price tags (NOTE: I didn’t forget this link – for some reason the MLS is acting up when I try to retrieve it). With all this, our inventory took a healthy dip ending the week at 387, down seven from last week, with 149 homes and 238 lots for sale in the MLS in the Cape San Blas, Indian Pass and C-30 Corridor Market. We’ve got a lot of territory to cover today so let’s get started.

Nice variety in our three sales, with a gulf view home, a gulf front lot, and a pre-construction package on a gulf view house. The only thing they had in common is they’re all located on the Cape.

Let’s start with this bank-owned gulf view home on Cape San Blas Road in Ocean Haven. It’s a 4-bedroom, 3-bath, 2,957 square foot spec home which the developer was never able to find a buyer for after he finished it in 2007, when it came on the market with a list price of $1.25M. The bank foreclosed on it last December and when it went under contract the list price was $499,000. It sold on Wednesday for $470,000, real close to the county’s assessed value of $461,961.

Over in Jubilation on the south side of the Cape somebody got a sweet deal on this 52′ wide gulf front lot listed for $875,000 as a short sale.  Jubilation is the first of two premier subdivisions on the Cape done by Ashwood Development of Atlanta and they are first class all the way. This lot last sold back in late 2004 for $1.695M; today the county has it assessed at $330,000. Amazing. Anyway, our savvy investor picked it up on Wednesday for an even $500,000.

No photo for our pre-con sale but it’s in San Dunes subdivision, another nice project with lovely landscaping and finishing touches.  According to the MLS, for $444,000 our buyer is going to get a 4-bedroom, 3-bath 2436 square foot home built at the entrance to San Dunes.

Encouraging trend when we look at what buyers are feeding on in our nine new contracts. 2:1 it was land they wanted with six lots and only three homes having brought them to the negotiating table. When we start seeing demand for land again it’s a sure sign we’re on the road to recovery.

 We’ll start towards the northern end of the Cape and work our way south. First stop: a bay front beauty 2+ acres and 100′ wide just a bit south of Rish Park with a current list price of $369,000. In February 2005 it sold for $780,000, and just seven months later in September it resold for $1.495M. And what does the county think it’s assessed value is? Try $200,000.

  A few blocks south in Ocean Have this 4-bedroom, 5-bath bank-owned gulf view spec home caught somebody’s eye.  And why not? At $595,000 it’s priced pretty close to the assessed value of $535,985 so I’m curious to see just how close it comes in at closing. This house was originally listed in January 2007 for $1.25M but had no takers, and finally went to foreclosure last December.

 Our third contract was another waterfront, this one on the Gulf on Clearwater Drive in little Dolphin Beach to Bay subdivision. This is a pretty good size lot, measuring 54′ by 512′ or roughly 0.64 acres according to the MLS. It’s been listed since January when it came on the market at $549,000, and it went under contract on Monday listed at $439,000, well above the $330,000 assessment. Hopefully this seller will be ok, having owned it since mid 2002 when he purchased it for $390,000. 

On down the road to Antiqua to this 3-bedroom, 2-bath 1290 square foot gulf front “condo” (in name only) which caught someone’s attention with its $259,900 price tag. This is a short sale having last sold in early 2005 for $315,000. The owner put it back on the market just a year later in April ’06 for $485K. Our county’s estimate is $231,195.

Lots, lots, lots – I’m loving this! Next up is a lovely 50′ by 220′ gulf first tier parcel on Rachel Lane which just came on the market last week with a list price of $175,000, well below the assessed value of $227,500.  This is a short sale, having last sold in 2004 for $500K.  The fact that this went under contract so soon out of the gate at below assessed is worth noting. 

All of a sudden Piney Woods subdivision on the south side of the Cape is seeing some action and this week we have yet another new contract there, this time on a 60′ by 100′ first tier setting. There was another lot sold in here just a few weeks ago. I couldn’t locate any pertinent sales history data on this one. The seller listed it in July for $69,000, way below the county’s $100,800, so once again,  as we just saw on Rachel Lane, the trick to going under contract quickly seem to be trending towards coming in below where the county has it set.

   We’re finally heading off the Cape, taking a right onto C-30 and heading just a couple hundred feet down the road to Curve at the Cape subdivision on the gulf side where FINALLY this 59′ wide gulf front lot listed for only $220,000 is under contract. I cannot believe it has taken someone this long to step up to the plate for this property.  I have all but begged a number of people to check out this terrific value. Even the county thinks it’s worth a heck of a lot more – like $356,700. It’s been on the market some time, launching in July last year at $399,000 which, having last sold in mid 2004 for $640,000, explains its short sale status in the MLS. I can’t wait to see what it goes for. Can you say “Comp Killer”?

We’ll cruise about a mile east on C-30 to Money Bayou for our sixth and final lot contract, yet another gulf front, this one with a $329,000 price tag which almost matches the county’s tag of $340K.  Hard to believe that as recently as May 2006 the property sold for $987,000. The swiftness of this market correction has just been unimaginable.

We’ve made it to our ninth and final new contract of the week – a short sale on Indian Pass Road in Mystic Palm subdivision listed for $449,900. This is a pretty home with 3 bedrooms and 3 baths and is 2298 square feet, originally listed in October 2006 for $850,000. The county has it valued at $334,857 so let’s see who comes in closer at closing: the listing agent or Kes.

I don’t know about you but I’m wiped out. Twelve properties is plenty to digest in one day so I’m going to save our picks of the week from our new listings and price tags for tomorrow. Be sure to check back. And if you want in on some of this action just let me know. Call me on my cell at 850-227-5197 or shoot me an email to Sherri@SherriDodsworth.com . Thanks for hanging in there with me today – hope to see you back tomorrow.

WHOA! What a week! This week our maket area had three sales and eight new contracts and I’ve been showing property non-stop,  booked solid Thursday, Friday, Saturday and Sunday morning, so will have weekly review posted by mid-day Sunday. No ghostwriters on this blog,  just me,  so I hope you’ll check back on Sunday. We have lots to review!

What a difference a week makes. This week was as hectic as the last was quiet and we have a lot of territory to cover, with four closings and five new contracts. Now that’s some serious activity! Our inventory is once again moving in the right direction, downward, coming in at 394 (152 houses and 242 lots), down four from last week, for sale in the Cape San Blas, Indian Pass and C-30 Corridor market.  In other activity, we have five new listings, ten new price tags, and fourteen expired unsold.

   We’ll start our review of our four closings over on Indian Pass where this 2-bedroom, 2-bath, 1,224 square foot cottage built in 1988 sold. This was a short sale with the house listed for $224,900 and the adjacent lot advertised for $99,000. Our buyer purchased the house and the lot for $266,014 using conventional financing. This property last sold in April 2005 for $635,000 and is currently assessed by the county at $247,771, so County Property Appriaser Kesley Colbert was real close on this one.

 Now back along C-30 to Gulf Pines subdivision where this 4-bedroom, 4-bath, 3,019 first tier home built in 2004 sold for $587,500, also with conventional financing.  This is a lovely home, with an in-ground pool and awesome gulf views. The sellers purchased the undeveloped lot in 2000 for $85,000 and built the home. It’s been on the market for some time now, with the list price peaking in August 2007 at $1,000,500, and finally reaching $625,000 when it went under contract.

  Just up the road a bit we’ll stop at Money Bayou where this little Key West-style cottage finally closed this week having already failed two other times with previous contracts. The third time truly was the charmer here. This is a short sale, having last sold in July 2005 for $630,000.  It has been listed for a long time at a very attractive $299,000 and I have been amazed it has stayed on the market as long as it has.  It’s a 2-bedroom, 2 1/2 bath 739 square foot first tier beach cottage with wonderful gulf views from throughout the home. The buyers got a terrific deal, picking it up for an unbelievable $265,000, only slightly above the county’s assessed value of $249,449.

Our fourth and final sale is a bank-owned 38′ wide gulf front lot over at the Cape  with a list price of $239,000 which sold for $159,500 cash, way below the county’s assessed vlaue of $228,000. I am curious to see what the buyers plans are for it with it being such a narrow lot. It has been permitted for a duplex previously and that is what once stood on the property.

Now for our five new contracts all of which are on the Cape and which include a variety of properties: two single family homes, an interior townhouse at Barrier Dunes, and two lots, one gulf front, one interior. We’ll start at the south end of the Cape and work our way northward.

  First up is this very nice gulf first tier home in the Two Palms subdivision which is a very pretty neighborhood just past Salinas Park as you drive onto the Cape. This is a 3,100 square foot, 4-bedroom, 4-bath home which last sold in January 2004 for $518,000 and went under contract again this week as a short sale with a list price of $567,000. It had a contract with contingencies back in June but that one didn’t work out. The sellers first put this house on the market in July 2005 with a $1.195M sticker price. The county’s assessed value is $468,248, so I’ll be curious to see what it actually sells for.

Just a few blocks further up the beach is a gulf front home on Moonrise Drive which is the road right next to Loggerhead Grill (Beachcombers to you old timers) and which winds its way back to this 3-bedroom, 2-bath, 1,474 square foor beach house on a generous 1.22 acre lot. The MLS notes indicate the lot measures a respectable 66′ x 808′. This place is really tucked away and needs some sprucing up but with a list price of only $399,000 someone’s going to have a great escape to the Cape at a very sweet price. It’s priced well below the county’s assessed value of $483,928. The view from this place alone is well worth $399,000. Check it out:

Since it’s a short sale there are contingencies to be met so no idea when this may actually lose.

  And now for something completely different, a bank-owned interior lot in nearby San Blas Plantation (the subdivision where my office is located) listed for a give-away price of $44,000, no where near the county’s assessment of $240,000. (Sorry, Kes, you’ve been doing pretty well today up to this point . . . ).  The bank’s taking a bath on this one since it last sold in December ’04 for $240,000. Ouch.  This one’s going to be a real comp killer, but oner person’s comp killer is another person’s steal of a deal.

Just a couple blocks away in beautiful Jubilation subdivision this 52′ wide gulf front lot with a list price of $875,000 and an assessed value of $312,000 is our third contract of the week. Good to see contracts being written on land. I really couldn’t determine from the records the actual sale price of this property when the buyers purchased it as it was bundled with another property, also in Jubilation.  The developer of this subdivision, Ashwood Development out of Atlanta, has really done a commendable job of maintaining this property. I noticed the other day that they’ve recently added a fresh coat of paint to the pool house. Very nicely done.

 OK – we’re traveling about 8 miles north to Barrier Dunes for our fourth and final new contract which is on a 1-bedroom, 1 1/2-bath, 1164 square foot townhouse with a bit of a gulf view from the upstairs bedroom, but none from the main living area downstairs. It has a list price of $214,000 and last sold in mid 2002 for $162,500.

Folks, I really, really searched our new listings and I’m just not seeing anything lip-smacking enough to recommend as a pick of the week so I’m not going to select something mediocre just for the sake of having one.  My litmus test for handing out these titles is for them to be properties I would be excited about adding to my portfolio. Not seeing it this week.

Totally different story with our ten price changes, though, where one house made me sit up straight and pay very close attention.

This is a short sale on a gorgeous bay front home on Cape San Blas located about 500′ north of Scallop Cove BP, and this week it drops from $565,000 to $499,900. It’s situated on a 50′ bay front lot, has a shared dock, and deeded gulf access. With 2,525 square feet under heat and air, and a total of 5,135 square feet when you add the decks and two large screened porches overlooking the bay, there’s plenty of room for everyone to enjoy being at the Cape. It has 4 bedrooms and baths, and a humongous garage with a spacious second story bonus room. Here’s the view from the living room porch:

The last bay front house to sell on the Cape was just a few months ago on a home in Cape Breezes which was much older than this one and that sold for $425,000. This one has a much better kitchen, flooring, and attention to detail throughout.

Wow! What a marathon today. Thanks for hanging with me through this maze of properties. Things are definitely picking up, and if you’re ready to sell or buy I hope you’ll let me know. My toll free number is 877-512-9366 and you can always reach me by email at Sherri@SherriDodsworth.com . Have a terrific weekend.

I’ve decided to do this update monthly rather than weekly so we’ll do it on the first Friday of each month. No sales since our last update on July 3, but there have been a few price changes. Currently there are fifteen townhouses for sale in the MLS, ranging in price from $184,500 for a park-side unit to $625,000 for a gulf-front townhouse.

After a string of weeks with better-than-average activity, things finally came to a halt this week and we had the slowest week in real estate we’ve seen in some time. No closings, only one new contract, a measly two new listings, but an impressive fifteen price changes.  Our inventory took a nice dip, down seven from last week falling below 400 again to 398, but I suspect that’s a result of listings expiring on the last day of the month, many of which will likely renew sending us back up over 400+ by next week. But as of today our MLS has 155 homes and 243 lots listed for sale between Cape San Blas, Indian Pass and the C-30 Corridor.  With only nine sales in the month of July, thats over a 3 1/2 year inventory we’re looking at. Definitely better than it’s been but still not good.

Our one new contract is on a 3-bedroom, 3 1/2 bath, 2700 square foot gulf front home at Secluded Dunes.  This home was foreclosed on some time ago and has been on the market since November 2006 when it was originally listed for $1.048M.  In mid-June the list price finally reached $699,000 and that was the price point that attracted an offer. There are contingencies to be met so no known projected closing date.

Neither of our two new listings merit the honor of New Listing Pick of the Week so we’ll look for the “wow”  factor among our fifteen price changes where I’m going to go with a bay front commercial lot reduced to an attractive $250,000.

This is right near the turn off onto Cape San Blas Road and measures 100′ wide by roughly 300′ deep, for a total of about 0.69 acres.  It has a dock permit good through 2010, electricity on site, and a shallow well for irrigation. The views from the property are awesome, and it is studded with beautiful Florida palm trees, so this would be a postcard setting for a small roadside cafe or open-air eatery or watering hole of some sort. This aerial shows it’s a good dry lot:

Time to go show property so I’m out of here for now. Working hard to generate contracts so we’ll have more to talk about next Saturday. Let me know if you’re interested in buying or selling – my cell phone is 850-227-5197 or shoot me an email to Sherri@SherriDodsworth.com. And if you’re in the area, stop by and say ‘hello’. My Boardwalk Realty office is at 1252 Cape San Blas Road, about a mile from the turn off onto the Cape. Have a great weekend, and thanks for stopping by today.