Archive for December, 2012

Dec 29 2012

Cape San Blas Real Estate Week in Review – Dec. 22-28, 2012

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For Sale Sold Sign I hope everyone had a wonderful Christmas and Hanukkah with family and friends. It seems a lot of families decided to celebrate the holidays here along the coast, as we’ve had a lot of visitors. Nice to see our restaurants doing such a strong business at this time of year. Some of those visitors picked up year-end real estate bargains, as we had a strong week, closing four sales and writing up three new contracts. No new listings, but we have five price mark-downs. Once again our inventory ratcheted downward a bit, shaving off another four to close the week at 278, with 82 homes and 196 lots listed for sale in the Cape San Blas, Indian Pass and C-30 Corridor market. Let’s take a look at what’s moving.

Cape San Blas First Tier Lot Under Contract Dec. 2012 with List Price of $99,900

Odd Shaped Cape San Blas Lot Sold for $56,000 on Dec. 11, 2009

The first of our four sales is an oddly shaped lot on the Cape which looks more like a gerrymandered voting district than a residential lot. Very odd. The first photo shows the views from the front part of the property. The county has it assessed at $80,000. It sold in the summer of 2005 for $475,900, and then the current owners picked it up in December 2009 for $56,000. It went under contract this week with a list price of $99,900, and managed a whirlwind closing by Friday with $80,000 cash.

Bank-Owned Lot at Jubilation on Cape San Blas Under Contract Dec. 2012 with List Price of $40,000

Our second sale takes us down to the south side of the Cape to Jubilation, where this bank-owned 46′ by 80′ gulf view lot went under contract two weeks ago with a list price of just $40,000, pretty close to the county’s assessed value of $45,000. This lot last sold at the peak of the market in September 2004 for $280,000, a far cry from the $33,500 it went for on Thursday.

Money Bayou Gulf Front Lot Under Contract Dec. 13, 2011 with List Price of $299,000 Our third sale is this gorgeous 60′ wide gulf front lot on Sweetwater Drive at Money Bayou which went under contract on Thursday, Dec. 13 with a list price of $249,000, well above the county’s assessed value of $160,000. Ironically, this lot went under contract last Dec. 13 as well, but that obviously didn’t work out. The sellers have owned the property since mid-1999 when they bought it for $120,000, and first put it on the market in January 2008 with a $565,000 price tag. On Friday someone picked up a super sweet deal on this property for a very tasty $190,000.

One Side of Gulf Front Duplex at Indian Pass Under Contract Dec. 17, 2012 with List Price of $269,000

Now out towards the point of the Indian Pass peninsula for our fourth and final sale, a 3-bedroom, 2 1/2 bath, 1,536 square foot gulf front home which is one half of a duplex. The sellers bought it in mid-2003 for $325,000, had it listed for $269,000, and on Friday turned over the keys at closing for $242,000. Not sure why the county has this one valued so low at $183,223.

Cape San Blas Bank-Owned Gulf View Home Under Contract Dec. 2012 with List Price of $195,700

The first of our three new contracts is a bank-owned home on White Sands Drive in San Blas Shores the oldest subdivision on the Cape located adjacent to the north side of Ovation. This is a 3-bedroom, 2-bath, 1,208 home was built in 1985, and has pleasant gulf views and a pool. It needs a little TLC at this point. The last time this one was on the market was in early 2005 when it sold for $680,000. Today the bank has it essentially right at the county’s assessed value of $195,700.

Cape San Blas Gulf Viw Lot Under Contract as Short Sale with List Price of $34,900

Things are hopping at Jubilation this week as we have another lot under contract there, this one listed as a short sale for $34,900, well below the county’s assessed value of $45,000. The list price is less than ten cents on the dollar for its 2005 sale price of $390,000.

Gulf Front Townhouse Under Contract Jan. 3, 2012 with List Price of $189,000

Our fourth and final contract is out along the C-30 Corridor on Money Bayou. It’s 2-bedroom, 2-1/2-bath, 1,140 square foot gulf front townhouse at Cape Villas that went under contract as a short sale with a list price of $170,000. In mid-1998 it sold for $120,000, and those owners basically doubled their money in just four years, selling it in early 2002 for $230,014 to the current owners. They’ve had it on the market since the summer of ’05 when they initially listed it for $475,000. The county has it valued at $152,746 which is probably pretty close to what I imagine it will likely go for.

It’s been a tremendous year and I’ve met so many great new friends via this blog. I really appreciate your taking time out of your schedule to stop by and visit here, and I hope to meet many more of you in 2013. I love year end reviews and if you do, too, you’ll want to be sure to check back on Friday for my 2012 Year in Review to see just how 2012 stacked up against recent years, and if it tells us anything about what to expect in the new year. Have a great week, and, just gotta say it, see ya next year!

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Dec 24 2012

Merry Christmas

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Dec 22 2012

Cape San Blas Real Estate Week in Review – Dec. 15-21, 2012

Published by under Cape San Blas

For Sale Sold SignCool wintery weather arrived in time for Christmas this week, but our sales stayed summer sizzling hot with lots of activity. We closed five sales, wrote up four new contracts, added three new listings, and changed prices on eight others. With all that, our inventory took a nice little dip, shedding another five to close at 282, with 85 houses and 197 lots listed for sale in the Cape San Blas, Indian Pass, and C-30 Corridor market. Let's see what buyers were wrapping up in time for Christmas.

Cape San Blas Bay Front Home Under Contract Nov. 2012 with List Price of $585,000

The first of our five sales is an absolutely lovely bay front home in Paradise Bay located near Cape Palms Park. Situated on a 100′ wide span of waterfront on St. Joe Bay, complete with dock, this spacious 3,022 square foot, 4-bedroom, 3-bath beauty was listed for $585,000. It features rich juniper walls and gleaming pine floors throughout, and is tucked away at the end of a cul-de-sac. I helped these sellers buy the lot in late 1996 for $55,000, and they built the custom home in 2004; on Friday they passed the keys to the lucky new owners for $510,000.

Bank-Owned Gulf Front Home at Cape San Blas Under Contract Nov. 2012 with List Price of $469,000

Our second sale takes us just a short distance down the road to San Dunes, a small quaint neighborhood on the Cape about three miles south of the state park. This is a bank-owned gulf front house which was foreclosed on before construction was completed, so it’s a work in progress, with one estimate on the cost to finish it being $125,000. The bank had it priced at $469,000, significantly above the county’s assessed value of $391,473, and on Thursday they sold it for $375,000.

Cape San Blas Gulf View Home Under Contract Oct. 2012 with List Price of $529,000

We’ll head a few blocks further south down Cape San Blas Road for our next sale, a house in the Seagrass subdivision, a 3-bedroom, 3-bath, 2,094 square-foot gulf view home with an interesting sales history. In August 2005 it sold for $980,000, and then just five years later in March 2010 it sold again for $390,000. In late October it went under contract with a list price of $529,000, and on Tuesday the bank let it go for $512,000. This is a lovely home with terrific water views and the county’s assessment of $303,118 is just way too low.

First Tier Lot at Gulf Pines Under Contract Dec. 2012 with List Price $90,000

Our fourth sale is a bank-owned first tier lot over in Gulf Pines located out along the C-30 Corridor. This quarter-acre lot sold in February 2005 for $435,000. The first tier lots in Gulf Pines have terrific water views and FEMA flood insurance eligibility so I think the county has this one also assessed too low at $60,000. In late October it went under contract with a list price of $90,000, and this week it sold for $78,500.

Lagoon to Gulf Home at Indian Pass Under Contract Dec. 7, 2012 with List Price of $499,000

For our fifth and final sale we’re going over to the Indian Pass peninsula to a unique property, a 5-bedroom, 3-bath, 4,550 square foot home situated on a 3.5 acre lot which spans from the lagoon front to the gulf. This home, built in 1988, has been on the market since the summer of 2008 when it was listed for $5M. Fast forward four years and that list price ended up at just $499,000, (well below the county’s assessed value of $668,010), and on Wednesday they closed for a stunningly low $400,000. The family purchased the home in late 1992 for $475,000, the equivalent of $783,147 today in inflation-adjusted dollars; that’s a pretty sobering thought.

Bank-Owned Cape San Blas First Tier Lot Under Contract Dec. 18, 2012 with List Price of $77,000

The first of our four new contracts is on a bank-owned first tier lot in Seagrass listed for $77,000, well below the county's assessed value of $105,000. That's a long way away from its previous sales, when it sold in January of 2004 for $225,000, and then again 15 months later in March 2005 for a whopping $625,000. This is a 121' by 90' quarter-acre lot in an “X” flood zone.

Cape San Blas Bay Front Home Under Contract Dec. 2012 with List Price of $299,000

About a half mile down the road our second contract was written on this 3-bedroom, 4-bath, 1,904 square foot bay front home situated on a bay lot with 103' of waterfront. Built in 1975, it is grandfathered in for FEMA flood insurance coverage. The sellers bought it in 1997 for $110,000, and this week it went under contract with a list price of $299,000.

Gulf to Lagoon Indian Pass Lot Under Contract Dec. 2012 with List Price of $325,000

We're heading back over to Indian Pass for our next two contracts, stopping first at this beautiful 100' wide, 3.75 acre lagoon front to gulf front lot listed for $325,000, well below the county's assessment of $465,000. The property has been on the family for some time, so no meaningful sales history on file.

One Side of Gulf Front Duplex at Indian Pass Under Contract Dec. 17, 2012 with List Price of $269,000

Now out towards the point of the Indian Pass peninsula for our fourth contract which is on this 3-bedroom, 2 1/2 bath, 1,536 square foot gulf front home which is one half of a duplex. The sellers bought it in mid-2003 for $325,000, and now have it listed for $269,000. Not sure why the county has this one valued so low at $183,223.

I hope you have a wonderful week of celebration with family and friends. My husband and I are staying here at the Cape for Christmas so if you’re in the area over the holidays I hope you’ll stop by and say hello. My office is at 1252 Cape San Blas Road and my number is 850-227-5197. Merry Christmas, and let’s meet here again next Saturday.

 

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Dec 15 2012

Cape San Blas Real Estate Week in Review – Dec. 8-14, 2012

Published by under Cape San Blas

For Sale Sold SignThere was no let-up in Christmas shopping along the coast this week as we rang up an impressive seven sales and penned four new contracts, entered eight new listings and lowered the prices on three others. Our inventory remains virtually unchanged, closing the week down by only two at 287, with 88 homes and 199 lots listed for sale in the Cape San Blas, Indian Pass and C-30 Corridor market. We have a lot of territory to cover today so let’s get right to it.

Interior Lot at Sunset Pointe on Cape San Blas Under Contract Dec. 3, 2012 with List Price of $36,900
The first of our seven sales takes us to the north end of Cape San Blas to Sunset Pointe, a very nice subdivision by the state park. This recently listed quarter-acre lot measuring 80′ by 150′ went under contract last weeks just four days after it was listed for $36,900. The seller paid $230,000 for it in 2004. Last week they received a cash offer with no contingencies, and closed on Tuesday for $30,000.
Cape San Blas Townhouse at Barrier Dunes Under Contrat Sept. 2012 with List Price of $129,000 Our next two sales are both in nearby Barrier Dunes, starting with a two bedroom 2 1/2 bath 1172 square foot townhouse that went under contract in mid-September with a list price of $129,000. The owners bought it in July 2007 for $149,000, and sold it this week for full list, $129,000.

Cape San Blas Townhouse Under Contract June 11, 2012 as Short Sale with List Price of $199,000

The other Barrier Dunes sale was this 2-bedroom, 2 1/2-bath, 1,845 square foot townhouse which went under contract back in June as a short sale with a list price of $199,000. The sellers bought it back in mid 2005 for $440,000, basically quadruple the $111,900 it had sold for just 5 years earlier in late 1999. The lender finally approved this week’s sale and the property sold for $152,305.

Cape San Blas Gulf View Lot Under Contract Oct. 2012 with List Price of $78,000

We’ll head about 2 miles south down Cape San Blas Road for our next sale, a gulf view lot that went under contract in late October with a list price of $78,000. This quarter-acre X-zone lot sold for $195,000 in January 2004, and the current sellers bought it in March of 2005 for $470,000. On Friday, the new owners picked up the title for $52,000.

Bank-Owned Cape San Blas Gulf Front Home Under Contract April 2, 2012 with List Price of $550,000

Our fifth sale was this contemporary 4-bedroom, 3 1/2-bath, 2,427 square foot bank-owned gulf front home on Clearwater Drive on the Cape which may look familiar if you’re a regular reader as it went under contract four different times until it was finally able to make it all the way down the aisle this week. This home last sold in June 2004 for $1.5M but ended up back with the bank who listed it for $550,000. On Tuesday they handed the keys to the proud new owners for $463,000.

Bank-Owned First Tier Lot at Gulf Pines Under Contract Oct. 2012 with List Price of $90,000

Our sixth sale is a bank-owned first tier lot over in Gulf Pines located out along the C-30 Corridor. This quarter acre lot sold in February 2005 for $435,000, and those owners listed it five months later for $499,000 but never found a taker, and eventually lost it to the bank. The first tier lots in Gulf Pines have terrific water views and FEMA flood insurance eligibility so I think the county has this one also assessed too low at $60,000. In late October it went under contract with a list price of $90,000, and on Friday it closed for $78,500 cash. Treasure Shores First Tier Lot Under Contract Nov. 19, 2012 with List Price of $95,000

Our seventh and final sale is another first tier corner lot over in Treasure Shores, located just a few blocks east of Gulf Pines. The gulf views are awesome from this half-acre lot that measures 100′ by 249′. The sellers bought it in early 2003 for $260,000, listed it for $95,000, (though not as a short sale), and on Tuesday it went for $90,000 cash.

Cape San Blas Gulf Front Home Under Contract Apr. 3, 2012 as Short Sale with List Price of $575,000

Down near the rocks at Stumphole, the first of our four new contracts is on a gulf front home, a 4-bedroom, 4 1/2 bath, 3,488 square foot model with 41′ of water frontage. In 2003 it sold for $900,000, and three years later, in January 2006, one of the owners sold an interest in the property for $907,500. It’s listed as a short sale for $479,000.

Bank-Owned Lot at Jubilation on Cape San Blas Under Contract Dec. 2012 with List Price of $40,000

Our next contract takes us down to the south side of the Cape to Jubilation, where this bank-owned 46′ by 80′ gulf view lot went under contract on Thursday with a list price of just $40,000, pretty close to the county’s assessed value of $45,000. This lot last sold at the peak of the market in September 2004 for $280,000.

Cape San Blas Gulf Front Lot Under Contract Dec. 2012 with List Price of $139,000

Our next new contract is on Louisiana Lane, just a few blocks east of Jubilation. This 43′ by 550′, roughly half-acre gulf front lot lies entirely seaward of the CCCL and is in a VE flood zone. The sellers have it listed for $139,000, not too far off of the $125,000 at which the county has it assessed. In 1996 they picked it up for $79,900, and put it on the market in mid-2007 asking $449,000.

Money Bayou Gulf Front Lot Under Contract Dec. 13, 2011 with List Price of $299,000Our fourth and final new contract is on this gorgeous 60′ wide gulf front lot on Sweetwater Drive at Money Bayou which went under contract on Thursday, Dec. 13 with a list price of $249,000, well above the county’s assessed value of $160,000. Ironically, this lot went under contract last Dec. 13 as well, but that obviously didn’t work out. The sellers have owned the property since mid-1999 when they bought it for $120,000, and first put it on the market in January 2008 with a $565,000 price tag.

Only nine 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 holiday hustle and bustle, 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.

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Dec 08 2012

Cape San Blas Real Estate Week in Review – Dec. 1-7, 2012

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For Sale Sold SignWe’re well into the hectic holiday shopping season and if this week’s activity is any indication, a lot of people have asked Santa Claus to bring them their very own beach retreat. We closed another three sales, wrote up three new contracts, listed four properties, and lowered the prices on five others. Just a slight dip in our inventory as we shaved off three more, closing the week at 289, with 90 homes and 199 lots listed for sale in the Cape San Blas, Indian Pass and C-30 Corridor market. Let’s take a look at what beach bargains buyers bought up.

First Tier Home in Gulf Pines Near Cape San Blas Under Contract May 15, 2012 with List Price of $299,000

We’ll head over to Gulf Pines for the first of our three sales, a modest 3-bedroom, 2 1/2-bath, 1,456 square foot first tier home listed for $294,000, $5,900 less than the sellers paid for it in September 2001. On Wednesday they sold it for $260,000. First tier homes along this stretch have awesome gulf views, and Gulf Pines is a FEMA eligible area.

Gulf Front Home Near Cape San Blas Sold Dec. 2012 for $1,385,000

Traveling a short distance east along C-30 takes us to our second sale, a palatial 7,800 square foot gulf front luxury home situated on 1.2 acres. This lovely home has six bedrooms with the possibility for adding two more, six full bathrooms, two large living rooms, two large kitchens, two laundry rooms, sauna, five separate HVAC zones with individual controls, over 900 feet of screened and covered porches, an elevator, large game room and large exercise room. Two first tier lots could be split off from property. The sellers listed it back in May for $1.9M, reduced the price a few weeks later to $1.495, and on Wednesday picked up a check at closing for $1.385.

We’ll now head west along C-30 back towards the Cape and over to Treasure Bay for our next sale. The lots here along the roadfront have unobstructed bay views with the land seaward of them being a state-owned buffer preserve. This one has an interesting sales history, selling in May 2004 for $112,500, and then again just a month later for $150,000. It went under contract in early September with a list price of $24,500 , and this week sold for exactly that.
Interior Lot at Sunset Pointe on Cape San Blas Under Contract Dec. 3, 2012 with List Price of $36,900
Now for our three new contracts, the first of which takes us to Cape San Blas for the first time today. In Sunset Pointe, a very nice subdivision up by the state park, a newly listed quarter-acre lot measuring 80′ by 150′ went under contract with a list price of $36,900. The owners bought it in 2004 for $230,000. The buyer is paying cash, no contingencies, so we’ll have a quick close on this one.

2nd Tier Bank-Owned Lot Near Indian Pass Under Contract Feb. 11, 2011

Our next contract is on a bank-owned second-tier lot in the Cottages at Indian Summer back out on the C-30 Corridor heading towards Indian Pass. This high and dry lot nestled on a quiet pine and palm studded street sold in the hey day of early 2005 for $360,000. On Thursday it went under contract at 7-cents on the dollar with a list price of $26,100, in line with the county’s assessed value of $27,000.

Lagoon to Gulf Home at Indian Pass Under Contract Dec. 7, 2012 with List Price of $499,000

For our third and final new contract we’re going over to the Indian Pass peninsula to a unique property, a 5-bedroom, 3-bath, 4,550 square foot home situated on a 3.5 acre lot which spans from the lagoon front to the gulf. This home, built in 1988, has been on the market since the summer of 2008 when it was listed for $5M. Fast forward four years and that list price is now down to just $499,000, (well below the county’s assessed value of $668,010), and that attracted a buyer willing to step up and make an offer. The family purchased the home in late 1992 for $475,000, the equivalent of $783,147 today in inflation-adjusted dollars; that’s a pretty sobering thought. There are no contingencies to be met so I expect this one should close fairly quickly.

That does it for today. We seem to be ending the year on a strong note, so that’s a good thing. If you’re interested in making a quick cash purchase before the end of the year there’s still time but we’ll need to move quickly so let me know and we’ll get started. Call or text me at 850-227-5197 or shoot me an email to sherri@sherridodsworth.com . Have a great week, and thanks so much for taking time out of your hectic holiday schedule to stop by today.

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