After a smokin’ busy summer, area closing agents took a break this week closing zero sales. Nada. That’s a first in a long, long time. Realtors kept busy, though, writing up four new contracts, listing seven new listings, and changing prices on three others. Our inventory inched up by two, closing the week at 282, with 82 houses and 197 lots listed for sale in the Cape San Blas, Indian Pass and C-30 Corridor MLS market. Let’s see what caught buyers’ attention.
Seems we’ve moved a fair number of large tracts on the Cape this past year, and the first of our four new contracts contributes to that trend. Villa del Sol, a 21-acre subdivision on the south side of the Cape, is a remnant of the real estate boom of the early 2000’s. The developers back then installed brick paver roads, all of the infrastructure such as water, sewer, underground electric and cable, and even pre-paid for sewer taps for all of the 48 lots. The market crashed, and they lost it. The current owners purchased the common areas and the 43 un-sold lots in early 2013 for $1,837,500 as a distressed sale. They put it back on the market in January this year and put it under contract Friday with a list price of $4,399,900.
In nearby Pine Bluff, contract number two is on a first tier, gulf view lot listed for $89,000. It’s conveniently located right next to the pool and the deeded gulf access walkway to the beach. The sellers purchased the 55′ by 265′, third-of-an-acre property in 2011 for $85,000.
We’ll leave the Cape and travel east along C-30 to Gulf Pines, home to our final two contracts, the first of which is this unique gulf front property with two homes that share a common deck. Each home is about 1,650 square feet and between them have a total of six bedrooms and four baths. The circa 1983 homes last sold in September 2014 for $512,500. Since then the new owners have been busy doing serious upgrades and renovations, including new furnishings, new flooring, new appliances, countertops and fixtures, and fresh paint throughout. Outside, they added a new walkover the to beach, of which 100′ fronts this popular vacation rental. It’s listed for $799,000 and went under contract last Saturday.
On the corner of C-30 and Gulf Pines Drive, this fourth and final new contract is on a 90′ by 268′, half-acre first tier lot listed for $154,900. The Gulf Pines neighborhood has minimal HOA fees of just $200 per year, and is a FEMA eligible area. If the lot looks familiar, it may be because we saw it here a mere 2 months ago when the sellers bought it for $145,000.
That does it for this week. If you’re interested in seeing what other great real estate opportunities may be out there waiting for you, please text or call me at 850-227-5197, or shoot me an email to [email protected] and I’ll be glad to help you. Until then, have a terrific week, keep cool, and thanks so much for taking time to stop by today.