Dec 29 2017

Cape San Blas Real Estate Week in Review – Dec. 23-29, 2017

Published by at 10:34 PM under Cape San Blas

For Sale Sold SignSanta visited the Forgotten Coast while making his rounds this week and brought five lucky buyers a place to call their own at the beach. Two bargain hunters wrote up  contracts, one new listing entered the mix,  and two others sported new price tags. Our inventory shed three, closing the week at 275, with 81 homes and 194 lots listed for sale in the Cape San Blas, Indian Pass and C-30 Corridor market.

Cape San Blas Gulf Front Home Under Contract November 201 with List Price of $989,600

The first of our five sales is a 3-bedroom, 3-bath, 1,834 square foot gulf front home listed for $989,600.  It’s located on Windward Street in Cape Breezes, one of the earliest subdivisions on Cape San Blas.  All of the properties in this neighborhood enjoy deeded gulf and bay access. There are recorded covenants and an architectural review board, but no HOA or HOA fees.   The sellers bought the vacant lot in 2013 for $340,000, and built the house in 2015.  On Friday they handed over the keys to the new owners for $912,500.

Our second sale is in a recently-platted subdivision called The Preserve at Cape San Blas adjacent to the north side of Seagrass.  As soon as this listing hit the MLS in March this 50′ by 432′, 0.49-acre gulf front lot went under contract with a list price of $479,000. The parent parcel for this subdivision, which spans from the Gulf to Cape San Blas Road, sold for $1.75M in October of 2016.  This actually closed last Thursday but wasn’t entered into the MLS as “Sold” until Saturday.

Cape San Blas First Tier Lot Under Contract Dec 2017 with List Price of $149,999

Down on the south side of the Cape in Two Palms, a neighborhood adjacent to Salinas Park, the parties closed on this 68′ by 193′, third-of-an-acre first tier lot. It was listed for $149,999 and sold on Wednesday for $140,000 cash. The seller was the original developer of the subdivision.

Gulf Front Home on C-30 Corridor Under Contract December 2017 with List Price of $899,000

We’ll leave the Cape and head east on C-30 in the direction of the Indian Pass Raw Bar,  to a house located on a 50′ gulf front lot just before you get to Gulf Pines Drive. (For those not familiar with the area, that’s roughly a half mile from Cape San Blas Road).  Just two weeks ago, the sellers accepted an offer on their 5-bedroom, 4-1/2-bath, 3,348 square foot waterfront home with an asking price of $899,000.  The lot it’s on is a little over half an acre.  It was built in 2008 as a spec home but went into foreclosure; the current owners acquired it in a bank sale in mid-2011 for $539,000 and sold it on Wednesday for $850,000 cash.

Bank-Owned Lagoon Front Lot Under Contract September 2017 with List Price of $24,500

Our fifth and final sale is out on C-30 shortly past the Indian Pass Raw Bar. It is a 155′ by 465′, 1.69 acre, lagoon front, bank-owned lot listed for $24,500.  The county records show it last changed hands privately in May of 2008 when it was quit-claimed for $45,000. The bank acquired it in late 2014.  If it looks a bit familiar, it was under contract briefly back in late September. They made it to the closing table this time with the buyers taking title on Thursday for $23,100.

Cape San Blas House Under Contract Dec 2017 with List Price of $325,000

Now on to our two new contracts, starting with this 3-bedroom, 2-bath, 1,444 square foot home on Cape San Blas Road in Cape Breezes, adjacent to the north side of Rish Park. This older home is a serious fixer upper, but offers views of the gulf and bay. The property appraiser’s site lists its effective age as 2005, but this was an older home when I moved to this neighborhood in 1994.  Cape Breezes is one of the original subdivisions on the Cape, platted in the late 70’s and marketed in the early 80’s. This one one of the earliest homes built here.  All properties convey with deeded gulf and bay access, and there is no HOA or HOA fees.

Cape San Blas Road Fron Lot Under Contract Dec 2017 with List Price of $69,000

Last up is this half-acre lot fronting Cape San Blas Road just before you get to the Salt Works Cabins on the the south side of the Cape.  The sellers bought it in early 2013 as a bank-owned sale for $21,500, and have it listed for $69,000. Back in 2003 it went for $175,000.   The sewer and water taps for the lot have been paid for.

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 2017 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!

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