Jun 30 2017

Cape San Blas Real Estate Week in Review – June 24-30, 2017

Published by at 8:23 PM under Cape San Blas

For Sale and Sold Sunny weather returned in full force this week and so did the buyers. We had a lot of action, closing eight sales and writing up seven new contracts. Sellers posted “For Sale” signs on a whopping fourteen new listings, and new price tags on nine others. Our inventory inched up by six, closing out the week at 279, with 85 homes and 194 lots listed for sale in the Cape San Blas, Indian Pass and C-30 Corridor market.

Cape San Blas Bay View Home Under Contract June 2017 with List Price of $428,000

We’ll kick off our review of this week’s eight sales up on the north end of the Cape in Sunset Pointe on Hemmingway Circle where sellers accepted an offer on June 10 on their 3-bedroom, 2-bath, 1,684 square-foot home with an unobstructed view of the bay.   They bought the quarter-acre “X” zone lot in early 2010 for $55,000, built the home in 2012, listed it for $428,000, and sold it on Wednesday for $403,000 cash.

Cape San Blas Bay Front Lot Under Contract June 2017 with List Price of $335,000

About a mile down the road from Sunset Pointe just south of Ovation is Cape Breezes, home to this 100′ by 240′, half-acre bay front lot listed the 1st of May for $335,000.  This is one of the original subdivisions on the Cape, platted and recorded in the late ’70’s.  There is no HOA and no HOA fees, and all properties convey with deeded bay and gulf access. The sellers bought the lot in 2003 for $360,000, and sold it for $302,000 cash.

Cape San Blas Bay Front Lot Under Contract May 2017 with List Price of $319,000

Our third sale is this beautiful bay front lot on Anchor Lane in Paradise Bay subdivision just north of Cape Palms Park. The half-acre property has over 100′ on the water and went under contract as soon as it hit the MLS in early May with a list price of $319,000 so I think the parties had already come to an agreement by the time it showed up as a listing. All the lots in this subdivision include deeded gulf access directly across the street, and there is no HOA or HOA fees. The new owners took title for $290,000 cash.

 

Two First Tier Lots in Gulf Pines Under Contract June 2017 with List Prices of $98,000 Each

These next two sales are adjacent first tier lots in Gulf Pines subdivision off of C-30 as you head towards Indian Pass Raw Bar.  They were originally part of the gulf front lot seaward of them. There’s a home on the gulf which the owners bought in early 2015 for $915,000.  They subsequently did a minor replat, breaking off these two roughly 54′ wide, third-of-an-acre lots which they’ve listed for $98,000 apiece. Somebody thought that sounded like a pretty good deal and decided to snap up both of them two weeks ago, and on Thursday they took title to them for $93,500 each.  This is a FEMA-eligible neighborhood.

Gulf Front Home at Sweetwater Shores Under Contract May 2017 with List Price of $769,000

Our next sale is over in Money Bayou where the parties went to the closing table on this 3-bedroom, 3-bath, 1,934 square foot gulf front home listed for $769,000. The lot alone sold for $325,000 in 2002, and the home was built two years later in 2004. It sits on a half-acre lot with 50′ of waterfront,  and FEMA flood insurance is available. It went under contract on the 21st of June and closed eight days later for $738,500 cash.

Indian Pass House Under Contract Feb. 2016 with List Price of $299,900

We’re over in Indian Pass Beach subdivision for our eighth and final sale, a 2-bedroom, 2 1/2-bath, 1,872 square foot beach home built around 1989. This home is on Oak Street just off of Indian Pass Road and while it doesn’t have gulf views, it is just a short stroll down to the beach.  The sellers bought it in 2004 for $425,000, and initially listed it in 2006 for $700,000. It went under contract Memorial Day Weekend sporting a $299,900 price tag, and sold on Monday for full list price of $299,900 with conventional financing.

Second Tier Lot in Ovation Under Contract June 2017 with List Price of $169,000

The first of our seven new contracts is a second tier, 50′ by 107′, 0.08-acre gulf view lot in Ovation listed for $169,000. The sellers bought the X zone lot in the summer of 2015 for $117,500. Ovation is a gated community spanning from the gulf to the bay, and offers exceptional amenities such as a bay front infinity pool, tennis, exercise room, walkways out onto the bay, community center, and gulf side pool.

Gulf View Lot on Cape San Blas Under Contract June 2017 with List Price of $148,500

Our second contract is located in Feather Sound on Sea Dunes Drive.  Here buyers had their offer accepted on this 128′  by 106′, third-of-an acre gulf view lot listed just last week for $148,500. The sellers have owned it since  way back in 1996 when they bought it for $14,650.

Cape San Blas Gulf View Home Under Contract June 2017 with List Price of $649,000

Contract number three is down on the south side of the Cape where buyers had their offer accepted this 6-bedroom, 4-bath, 3,245-square-foot gulf view home in Two Palms listed for $649,000.  The home was built in 2000, and the sellers bought it in early 2015 for $499,000. They’ve done a lot of upgrades, renovations, and brought in a lot of lovely new furnishings since then.

Lagoon Front Home Under Contract June 2017 with LIst Price of $399,000

We’ll travel east on C-30 out past the Indian Pass Raw Bar for contract number four which is on this 3-bedroom, 2-bath, 2.009 square foot lagoon front home listed for $399,000.  The 1.6-acre lot has 104′ of waterfront. The sellers bought the postcard-perfect water-view lot in 2013 for $26,200, and built the home that same year.

We’re back out on Indian Pass for our last three new contracts, starting off near the first big bend on Indian Pass Road where buyers had their offer accepted on this lovely 50′ wide gulf front parcel listed for $275,000. That would be an easy to get used to front yard view, wouldn’t it? The roughly half-acre lot last sold in mid-2007 for $535,000.

Indian Pass Home Under Contract June 2017 with List Price $299,500

A little over 2 miles east along Indian Pass Road is a subdivision platted in the early 1950’s known as Indian Pass Beach Subdivision, and it is where buyers penned an offer on a 2-bedroom, 1-bath, 1,288 square foot X-zone home listed for $299,500. The sellers bought the circa 1989 home in July 2011 for $135,000.

Indian Pass Lot with 25' of Gulf Frontage under Contract June 2017 with List Price of $129,000

We’ll wrap things up today out at the tip of Indian Pass in St. Vincent Point where sellers accepted an offer on their quarter-acre lot with 25′ of gulf frontage overlooking St. Vincent Island listed for $129,000. They bought it as a bank-owned sale in early 2014 for a mere $80,000.

That’s it for this week. Let’s go celebrate our independence! I hope you have a terrific holiday weekend with family and friends and enjoy the blessings of living in a free nation. There’s a little grill action on the horizon, good eats and good times. Thanks so much for taking time out of your weekend to stop by for awhile. If you’d like further info on any area properties, let me know – just call or text me at 850-227-5197 or shoot me an email to sherri@sherridodsworth.com .

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