Aug 18 2012
Since the kids in Georgia have headed back to school it sure has quieted down around here. Slowest week we've had in a long time, with only one sale and three new contracts, four new listings and two price changes. We whittled away three from our inventory, closing the week at 346, with 92 homes and 254 lots listed for sale in the Cape San Blas, Indian Pass and C-30 Corridor market. Let's take a look at what we managed to move.
On the south side of the Cape in Piney Woods subdivision our solo sale is an interior lot which the sellers picked up in February for $17,000 when it was a bank-owned property. They put it back on the market a few months later asking $38,500, and took $35,000 for it on Tuesday. That's a bit below the county's assessment of $45,000, but still doubling their money in a matter of months.
All three new contracts were on the Cape, beginning with two lots at Ovation. This gulf front piece was part of the crop of developer lots that sold in May, when the sellers picked it up for $137,000. They, too, opted for a shot at a quick profit and just a month after closing on it, listed it for $189,000, way below the assessed value of $250,000.
The other Ovation lot is a bank-owned second tier property which, in the summer of 2005, sold for $450,000. That was then and this is now, and it went under contract on Tuesday with a list price of $70,000, well below the county's assessed value of $100,000.
We'll head about three miles south down Cape San Blas Road to Barefoot Trace where this 3-bedroom, 2 1/2-bath, 1,638 gulf front home went under contract Thursday sporting a $465,000 price tag. This family has been trying to sell the home since mid-2008 when they first listed it for $899,000. In late 2000 they bought the 75' wide lot for $240,000 and built the home the following year. The county has it pegged at $392,409.
That was quick! If you're interested in finding out about making a move on good coastal properties, I'll be glad to help you. Simply call or text me at 850-227-5197 and we'll get started. I really enjoy hearing from and working with my readers. Until then have a great week, and thanks so much for taking time to stop by today.