Archive for December, 2011

Dec 31 2011

Cape San Blas Real Estate Week in Review – Dec. 24-30, 2011

For Sale and Sold SignWhat a glorious send off we’re giving 2011 here on the Cape today; the skies are sunny and cystal clear, the temp’s been hovering around 73 all day, and we’re only looking at a low in the mid-50’s tonight – pretty sweet weather for ringing out the old and welcoming the new year. Our real estate market also ended the year in style, ringing up six sales, one new contract, three new listings and six price changes. Even with all that our inventoy remains basically stalled, closing down only one from last week at 387, with 96 homes and 291 lots for sale in the Cape San Blas, Indian Pass and C-30 Corridor market.

Cape San Blas Barrier Dunes Townhouse Sold Dec. 2011 for $125,000

The first of our six sales is up on the northern end of the Cape in Barrier Dunes, where this 2-bedroom, 2-bath, 1,172 square foot townhouse located back by the Park with a list price of $129,000 sold for $125,000. That’s well below the county’s current assessed value of $152,131, and the $180,000 the seller paid for it brand new in 2003.

Cape San Blas First Tier Lot Sold Dec. 27, 2011 for $85,000 We’ll head about 2 miles south for our second sale, a third-acre, first tier gulf view lot on Westwind Drive in Paradise Gulf, a subdivision platted in the early 90’s. This property first sold in 1995 for $29,000, then resold five years later in 2000 for more than triple that, $95,000. In 2005 they listed it for $750,000 and after numerous price reductions over the years, it finally went under contract with a list price of $109,000, and on Tuesday they let it go for $85,000, well below the assessed value of $120,000.

Cape San Blas Jubilation Lot Sold Dec. 2011 for $50,000

We’ll head to the south side of the Cape for our next sale, stopping first by this 0.2 acre “X” zone lot located in Jubilation. The seller unknowingly nailed the peak of the market when he bought this lot in September 2004 for $280,000. Looking back at the sales data, that was the month the inventory began to stall and start its upward trend. Even with his list price of $79,900 it wasn’t listed as a short sale, and on Tuesday it closed for $50,000, also below its $70,000 assessed value.

Bank-Owned Cape San Blas Home Sold Dec. 2011 for $375,000

Our next two sales are over near Salinas Park in Two Palms beginning with a bank-owned 4-bedroom, 4-bath, 2860 square foot first tier home which last sold in January 2004 for $518,000. This week it sold for full list price of $375,000, above the county’s assessed value of $310,916.

Cape San Blas Gulf View Home Now Just $299,000 Our fifth sale is on one of my former Price Change Picks of the Week. It is a 3-bedroom, 3-bath, 1,618 square foot gulf view “X” zone home in Two Palms on which sellers slashed the price just recently from $399,000 to $299,000, which is what it sold for this week. That’s still well above the county’s assessment of $234,819, but far less than half of the $740,000 it sold for in April 2005.

Pretty Gulf View From Home at Two Palms

It has pretty gulf views from the spacious decks and porches, and even has a screened in-ground pool.

Screened In-Ground Pool at Two Palms Home

Gulf View Lot at Indian Pass Sold as a Short Sale Dec. 2011 for $30,000

Let’s jump in the car and cruise on out along the C-30 Corridor eastward for about three miles until we reach the Cottages at Indian Summer, a subdivision on the south side of the road where our sixth and final sale was on a third-acre, second tier lot listed as a short sale for $46,900. The sellers bought it in mid-2005 for $390,000, and this week their lender signed off on agreeing to a sale price of $30,000, less than half the county’s assessed value of $73,600, but well above recent comps for similarly situated lots in this subdivision.

Cape San Blas Lot at Boardwalk Under Contract Dec. 26, 2011 with List Price of $69,900 We’ll circle back over to the Cape for our solo new contract which is on a gulf view lot in Boardwalk. The sales history on this lot is interesting as it sold in April 2001 for $66,500, then again to our current seller two years later in April 2003 for $125,000. It went under contract this week with a list price of $69,900, once again below the county’s assessed value of $85,000.

With that, we’ll bring the year to a close. I wish you and your loved ones good health and happiness in the New Year, and I want to thank all of you I’ve worked with, met with and talked with this past year who have helped to make 2011 such a memorable one for me. Have a safe holiday and thanks so much for taking time during this busy season to stop by. See ya next year!

Please follow and like us:

Comments Off on Cape San Blas Real Estate Week in Review – Dec. 24-30, 2011

Dec 24 2011

Cape San Blas Real Estate Week in Review – Dec. 17-23, 2011

For Sale and Sold SignSanta visited the Forgotten Coast while making his rounds this week and brought three lucky people a place to call their own at the beach. Three bargain hunters wrote up contracts, five owners listed their properties while ten others opted for price mark-downs. Our inventory remains unchanged, closing where it did last week at 388, with 97 homes and 291 lots listed for sale in the Cape San Blas, Indian Pass and C-30 Corridor market.

Cape San Blas Gulf View Lot Sold Dec. 21, 2011 as Short Sale for $47,200

The first of our three sales is on a second tier lot with gulf and bay views located in the Ocean Haven subdivision on Cape San Blas. The sellers paid $235,000 for it in November 2003, and had it listed as a short sale for $59,900. On Wednesday it sold for $47,200, well below the county’s assessed value of $72,000.

Bank-Owned Cape San Blas Gulf Front Lot Sold Dec. 23, 2011 for $140,500Our second sale was a bank-owned gulf front lot on Louisiana Lane on the south side of the Cape which priced at $149,999. This one was listed in the Bay County MLS and sold by a member of our MLS. The 50′ wide half-acre lot last sold in August 2007 for $650,000, and this week it sold for $140,500, just 21 cents on the dollar.

Gulf Front Lot at Indian Summer Sold Dec. 21, 2011 as Short Sale for $190,000

Our third and final sale was also a gulf front lot, this one located over on Indian Pass at Indian Summer. It measures 68′ by 217′, or roughly one-third of an acre, and was listed as a short sale for $230,000. There was so much interest in this lot not only because it’s a gorgeous piece of property, but also because it’s one of only two gulf front lots in this popular neighborhood eligible for FEMA flood insurance, as the CBRA designation runs right through Indian Summer. One very lucky buyer picked up the title to it on Wednesday in exchange for a check for $190,000, just a smidgen below the county’s assessed value of $205,000.

Bank-Owned Sea Cliffs Gulf View Lot Under Contract Dec. 22, 2011 with List Price of $54,000

The first of our three new contracts is on an out-of-the-ordinary listing, a lot in Sea Cliffs measuring just 18′ by 60′, the footprint of a townhouse. It’s a bank-owned property listed for $54,000, well above the county’s assessment of $45,000. I looked at it’s location on the plat map and it appears to be for an end unit so it will be interesting to see if the new owner decides to build soon or waits for others to buy up the adjoing lots before getting underway.

Cape San Blas Gulf Front Pre-Construction Home Under Contract Dec. 23, 2011 with List Price of $405,000

Our second contract is on a pre-construction package for the house in the diagram on a lot near the rocks at Stumphole. The plans are for a 4-bedroom, 2 1/2 bath 1900 square foot home on a 44′ by 316′ lot. List price for the package is $405,000.

Gulf Pines First Tier Home Under Contract DEcember 17, 2011 with List Price of $324,900

Our third and final new contract is on a 3-bedroom, 2 1/2 bath, 1,712 square foot first tier home in Gulf Pines listed for $324,900. It’s not listed as a short sale even though the sellers paid $349,000 for it in early 2003.

That does it for this week. I wish you all a very Merry Christmas and Happy Hannukah. Remember to take stock of and treasure the abundant blessings in our lives even during challenging times such as these. My wish for you is the gift of peace that keeping life in perspective brings.

Please follow and like us:

Comments Off on Cape San Blas Real Estate Week in Review – Dec. 17-23, 2011

Dec 17 2011

Cape San Blas Real Estate Week in Review – Dec. 10-16, 2011

For Sale and Sold SignAs usually happens this time of year, things are quieting down around here and we had a relatively slow week, with just one sale and two new contracts, four new listings, and two price changes. Our inventory inched up by six, closing the week at 388, with 99 homes and 289 lots listed for sale in the Cape San Blas, Indian Pass and C-30 Corridor market.

Cape San Blas Bay Front Lot Sold Dec. 13 for $30,000

Down on the south side of the Cape our solo sale is a bay front lot in Eventide, which sold as a bank-owned lot just two months ago in mid-October for $12,000. The bank had it listed then for $20,000. That buyer flipped it back on to the market with a $39,900 price tage and sold it Tuesday for $30,000 cash. The county’s going to have a lot of adjusting to do with this sale as they still have it valued at $40,000.

Indian Pass Bank-Owned First Tier Home Under Contract Dec. 13, 2011 with List Price of $349,900 The first of our two new contracts is on a bank-owned first tier 4-bedroom, 3-bath, 1,830 square foot home at Indian Pass. This home was builit in 2003 and last sold in January 2006 for $1M. It has been on the market since October of that year when it was originally listed for $949,000. Suntrust took it back this summer and listed it for $349,900, a good bit above the county’s assessed value of $277,454.

Money Bayou Gulf Front Lot Under Contract Dec. 13, 2011 with List Price of $299,000 Our second new contract is on this gorgeous 60′ wide gulf front lot on Sweetwater Drive at Money Bayou which went under contract on Tuesday with a list price of $299,000, well above the county’s assessed value of $175,000. A similar lot near this one sold last year for $200,000. The sellers have owned it since mid-1999 when they purchased it for $120,000, and first put it on the market in January 2008 with a $565,000 price tag.

With just four new listings and two price changes I’m not going with Picks of the Week this week, so we’ll wait to see if Santa beings us a couple of goodies next week. Only eight more shopping days ’til Christmas, so if you have coastal paradise properties on your shopping list be sure to get in touch with me this week. Call or text me at 850-227-5197, or send me an email to sherri@sherridodsworth.com. In all the hustle and bustle this week, with last minute shopping, decorating and wrapping gifts, be sure to take time to take note of the gifts you already have, your family, pets, and friends, and give them the gift of letting them know just how much they mean to you. Have fun, keep warm, and thanks so much for stopping by today.

Please follow and like us:

Comments Off on Cape San Blas Real Estate Week in Review – Dec. 10-16, 2011

Dec 11 2011

Cape San Blas Real Estate Week in Review – Dec. 3-9, 2011

For Sale and Sold SignEven with the cooler wintery weather settling in (daily highs in the 50s and 60s) and folks concentrating on Christmas shopping, we had a pretty good week in our real estate market for December, managing two sales, three new contracts, three new listings and put on four new price tags. Our inventory slimmed down by four, closing the week at 382, with 98 homes and 284 lots listed for sale in the Cape San Blas, Indian Pass and C-30 Corridor market.

Indian Pass Gulf Front Home Under Contract Sep. 21, 2011 with List Price of $790,000

I’m going to brag on our small company just a bit as I’m proud of the fact that both of this week’s sales were in-house sales for Boardwalk Realty, the first of which is a beautiful 4-bedroom, 4-bath, 3,042 square foot gulf front home in Indian Summer at Indian Pass listed as a short sale for $790,000. We listed it in mid-March, put it under contract on September 19, and closed it on Friday for $675,000. Phenomonally fast closing for such a high end property. My colleagues and the negotiating team we had working with us did a super job.Second Tier Lot at Cottages of Indian Summer Under Contract Nov. 22, 2011 with List Price of $27,500 Our second sale is a quarter-acre second tier lot nestled among the pines and palms at the Cottages at Indian Summer near Indian Pass along the C-30 Corridor. It went under contract with a list price of $27,500. The owners have had it since late 2003 when they picked it up for $50,000. They initially listed it in early 2008 for $229,000. The county’s assessment is way above list at $73,600, but they describe it as a first tier rather than a second tier, so that error may be the discrepency. On Tuesday the happy new owners claimed the lot for their future home on the coast for the list price of $27,500.

Cape San Blas Gulf Front Home Under Contract Dec. 5, 2011 with List Price of $349,000

All three of our new contracts are on single family homes on the Cape, beginning with this road-front, gulf view 4-bedroom, 4-bath 2,120 square foot home built is 2002. It goes under contract with a list price of $349,000, $46K below the $395,000 it sold for in early 2002. The county has it valued at $271,352.

Cape San Blas Gulf Front Home Under Contract Dec. 9, 2011 with List Price of $798,000

Just a few blocks south our second contract is on a handsome 4-bedroom, 4-bath, 2,726 square foot gulf front home built in 2008 which goes under contract with a list price of $798,000. It’s not listed as a short sale even though the lot alone sold for $749,900 in mid-2005. The county has this one pegged at $524,950.

Cape San Blas Gulf View Home Now Just $299,000 Our third and final new contract is on one of my former Price Change Picks of the Week. It is a 3-bedroom, 3-bath, 1,618 square foot gulf view “X” zone home on the south side of the Cape in Two Palms on which sellers slashed the price just recently from $399,000 to $299,000.

Pretty Gulf View From Home at Two Palms

It has pretty gulf views from the spacious decks and porches, and even has a screened in-ground pool.

Screened In-Ground Pool at Two Palms Home

Here are the MLS details:

Spacious and airy 3 bedroom 3 bath fully furnished home located in the X flood zone. The home was designed with an open floor plan to take advantage of the beautiful Gulf views. The living areas open onto the covered porches creating a large entertaining space. The upgraded kitchen features ceramic tile countertops and floors, with stainless steel appliances. Enjoy breathtaking sunsets from the porches on both upper levels that span the entire length of the home. As an added bonus, the home also includes its own swimming pool, covered by screened enclosure! The natural setting of Two Palms creates a feeling of seclusion and privacy. This home is currently on a rental program. Rental income for 2008 was $40,000, and for 2009, $49,500. Owner is willing to sell Half Interest in property.

All three of our new listings and four price changes are worth taking a look at, so I’m not singling out just one for a Pick of the Week, which means that wraps it up for another week. Prices are looking better and better all the time, so much so that I’m starting to hear from people who say they’re ready to make an offer on a particular property only to find out it’s already gone under contract, so if you’ve had your eye on a particular house or lot, you may want to step up to the plate before someone else beats you to it. Let me know what you’re interested in and I’ll be glad to help you get it. Call or text me at 850-227-5197 or shoot me an email to sherri@sherridodsworth.com. Have a great week, enjoy all those Christmas parties, and keep warm. Hope to see you back here next weekend, and thanks so much for stopping by today.

Please follow and like us:

Comments Off on Cape San Blas Real Estate Week in Review – Dec. 3-9, 2011

Dec 03 2011

Cape San Blas Real Estate Week in Review – Nov. 26-Dec. 2, 2011

Published by under Cape San Blas

For Sale and Sold SignAnother quiet week around here, with only two sales and one new contract. In other activity, we listed six properties and changed eight list prices. Very little change in our inventory, moving down by only one to 386, ending the week with 102 homes and 285 lots listed for sale in the Cape San Blas, Indian Summer, and the C-30 Corridor market.

Bank-Owned Home Near Cape San Blas Sold Nov. 30, 2011 for $135,000

The first of our two sales is a bank-owned 2-bedroom, 2 1/2-bath, 1,344 square foot home on C-30 in Treasure Bay. This was built in 2004 as a spec home, originally listed for $395,000, but never able to attract a buyer. When the bank got it earlier this year they listed it for $175,000, and on Wednesday it sold for $135,000. The county’s assessed value is squarely between those two at $158,688.

Gulf View Home at Money Bayou Under Contract Oct. 24, 2011 with List Price of $239,000

Our second sale is on this attractive Key West-style first tier home in Money Bayou. There is a lot of style packed into the 814 square feet of this 2-bedroom, 2 1/2 bath cottage. This one was listed as a short sale at $239,000, having last sold in mid-2005 for more than twice that, $560,000. There have been some comp-killer sales in this area and the county has it assessed at a low $185,457. A buyer picked up the keys at closing for $218,000.

Cape San Blas Bay Front Home Under Contract September 2010

Our sole new contract is on a bay-front home, one we’ve seen a number of times in this blog as both a Price Change Pick of the Week and as a new contract, though never as a Sold. Maybe this time will be the charmer, as it’s a lovely circa 2004 2-bedroom, 2-bath, 1,095 square foot home with dock and in-ground pool on the bay on the the south side of the Cape listed as a short sale for just $425,000, having last sold in late 2005 for $980,000. It’s assessed value is $339,799.

Second Tier Ovation Lots

All of our six new listings are lots, and two I like most for my Pick of the Week are two second tier lots at Ovation, listed for $99,000 and $109,000. These lots have amazing views and both are completely in the “X” zone.

That’s a wrap for this week. Quick as a flash, we’re done. If you have any questions about what other values may be found here at the beach, just let me know; I’ll be glad to help you with your search. Call or text me at 850-227-5197 or send an email to sherri@sherridodsworth.com . Thanks for checking in today, and I hope to hear from you soon.

Please follow and like us:

Comments Off on Cape San Blas Real Estate Week in Review – Nov. 26-Dec. 2, 2011