Archive for February, 2018

Feb 16 2018

Cape San Blas Real Estate Week in Review – Feb. 10-16, 2018

Published by under Cape San Blas

For Sale Sold SignJust as I suspected, our real estate market rebounded strongly this week in the wake of last week’s wild ride on Wall Street, as we closed ten sales and wrote up five new contracts. Sellers added ten new listings to the mix, and changed prices on five others. Even with all that activity, our inventory added only one, closing the week at 270, with 8 homes and 182 lots listed for sale in the Cape San Blas, Indian Pass and C-30 Corridor MLS Market.

Cape San Blas Gulf Frot Lot Sold Jan 2018 for $550,000

I’m starting out our review of this week’s crop of ten sales with a non-MLS, owner-negotiated sale that I think is a significant comparable sale.  According to the property appraiser’s site, on January 24 this 51′-wide gulf front lot in San Dunes subdivision on the Cape peninsula sold for $550,000, $10,784 per waterfront foot, a benchmark we haven’t seen in quite some time.

Cape San Blas Gulf Front Lot Under Contract Feb. 2018 with List Price of $979,000

Our second sale is this 105′ by 644′, 1-1/2-acres gulf front lot on Cape San Blas Road just a short bit north of Scallop Cove.  The sellers bought it in the summer of 2015 for $750,000, had it listed for $979,000 and sold it on Friday for $800,000 cash.

Gulf View Home in Boardwalk at Cape San Blas Under Conract Jan 2018 with List Price of $545,000

Sale number three is down on the south side of the Cape on Florida Avenue in Boardwalk.  Parties went to the closing table on this 4-bedroom, 3 1/2-bath, 2,197 square foot home listed for $545,000.  The sellers 11111111111bought the 0.18-acre lot in 2003 for $150,000, built the home in 2006, and handed over they keys on Thursday for full list price of $545,000.

Cape San Blas First Tier Home Under Contract Jan. 2018 with List Price of $499,000

A few blocks east of Boardwalk on Crescent Palms, our fourth sale is this 3-bedroom, 3-bath, 2,252 square foot first tier home on Crescent Palms listed for $499,000. The sellers bought the lot in 2001 for $159,900 and built the home in 2004.  On Thursday, they signed over the title to the new owners for $489,000.

Treasure Bay First Tier Lot Under Contract Jan. 2018 with List Price of $59,900

Treasure Bay is the second subdivision you come to on the left side of C-30 as you leave the Cape heading towards town.  A month ago buyers had their offer accepted on this 102′ by 218′, half-acre, first tier lot overlooking St. Joe Bay.  It was listed for $59,900, a smidgen below its 2002 sale price of $60,500. The current owners paid $37,500 for it in late November, and sold it on Friday for $52,000.

Gulf Pines First Tier Lot Under Contract Feb. 2017 with List Price of $185,000

We’ll circle back east on C-30 over to Gulf Pines, one of the original area subdivisions started in the early 1980’s. It’s a quiet gulf-side community with a few rentals but many full time residents as well.  Homes here are eligible for FEMA flood insurance. Buyers were attracted to this 78′ by 168′, third of an acre first tier lot located directly across the street from the deeded gulf access. The sellers bought it in early 2004 for $435,000, had it listed for $185,000, and sold it on Monday for $160,000.

Gulf Pines Gulf Front Home Under Contract Feb. 2018 with List Price of $919,900

Our next two sales were a combined offering which included this home in and the adjacent lot in Treasure Shores, a neighborhood very similar in age and style to Gulf Pines. Located between Money Bayou and Indian Pass it, too, is FEMA flood insurance eligible.  Several weeks ago the owner accepted an offer on his 4-bedroom, 3-bath, 2,412-square foot gulf front home situated on a 75′ wide lot measuring roughly half an acre.  He bought the home in late 1998 for $365,000, had it listed for $919,900, and handed over the keys to the new owners on Friday for $800,000.  Because it was a package deal with the lot, the price may not reflect an accurate comp for appraisal purposes.

Treasure Shores Gulf Front Lot Sold Feb 2018 for $350,000

The seller bought the adjacent 75′ wide lot at the end of $200,000, had it listed for $419,000, and accepted $355,000 for it with the sale of the house. Again, special circumstance, so probably not a true sales comp.

 

Indian Pass Gulf Front ot Under Contract January 2018 with List Price of $129,000

Our final sale is all the way out at the point of the Pass in St. Vincent Point.  The first week of January, sellers accepted an offer on their irregularly shaped gulf front lot with 25′ of waterfront listed for $129,000.  In mid-2010 it sold for $250,000 but then ended up belonging to the bank who sold it in early 2014 for $80,000. New owners took title on Monday for $105,000.

Gulf Front RV Lot on Cape San Blas Under Contract Feb 2-18 with List Price of $270,000

We have five new contracts to look at this week, the first of which is a gulf front RV lot not far from the rocks at Stumphole. The 56′ wide site has a concrete slab, water, septic, power and a shower all in place. The seller bought the lot in February 2015 for $130,000 and has it listed for $270,000.  The MLS notes cautions buyers verify first with the county if the lot will be grandfathered for continued use as an RV site in accordance with the RV Ordinance.

Gulf Pines Gulf Front House Under Contract Feb 2018 with list Price of $699,000

Leaving the Cape again and heading back over to Gulf Pines which was a happening place this week. Our second contract is on this 2-bedroom, 2-bath, 1,176 square foot gulf front home listed for $699,000.  The owners bought the 100′ wide lot for $35,000 back in 1986, and built the home that same year.   They accepted an offer on it Monday with an asking price of $699,000.

Gulf Front House at Gulf Pines Under Contract Feb 2018 with List Price of $899,000

Just a few blocks away on Gulf Pine Drive buyers fell in love with this 3-bedroom, 2-bath with 2 half baths, 3,510 square foot gulf front home listed for $899,000. This one was built in 1983 and is also on a 100′ wide lot.  The sellers bought the home in late 1994 for $249,900.

Corner First Tier Gulf View Lot at Indian Pass Under Contract Feb 2018 with List Price of $129,500

Our final two new contracts are both over on Indian Pass, starting with this gulf view corner lot on Canoe Lane listed for $129,500. The 75′ by 245′, 0.44-acre lot last sold in mid-2012 as a bank-owned sale for $59,000, a far cry from the $550,000 price it commanded back in 2006.

Indian Pass Lagoon Front Lot Under Contract Feb 2018 with List Price of $55,000

We’ll wrap things up today with this lagoon front lot close to the Indian Pass campgrounds. It features 130 feet of waterfront, has a dock in place for water access, and is listed for $55,000. From the aerials, it does not appear to have enough uplands for a suitable home footprint. If it looks familiar, it may be because it was under contract briefly once before in early November of last year. The sellers bought it in 1989 for $6,500.

Good to see some smokin’ hot activity again!  Let’s see what the next few weeks bring. Obviously, demand is strong, so if you’re thinking of selling, give me a call and I’ll be glad to provide  you with an estimate of your property’s current value. Call or text me at 850-227-5197 or send a note to sherri@sherridodsworth.com and we’ll get started. Thanks so much for stopping by today, and I hope to see you back here next week.

Please follow and like us:

No responses yet

Feb 09 2018

Cape San Blas Real Estate Week in Review – Feb. 3-9, 2018

Published by under Cape San Blas

For Sale Sold Sign  All eyes were on Wall Street this week watching one of the wildest roller coaster rides of all time.  Investors had one heck of a crazy ride with the market correction settling down 5.2% by week’s end.   The faint of heart may be ready to do some profit taking and start looking for a calmer haven for their funds, and what’s more calming and attractive than a beachside retreat?  Much as we saw what happened here locally when the dot com burst in 1999-2000, I believe a lot of that nervous capital may start seeking shelter in real estate, which is why I’m not concerned about the momentary lull in our market we have seen since last Saturday, closing only two sales, and adding but one new contract.  No new listings added to the mix but we did have two price changes. Our inventory shed six, closing out the week at 269 with 86 homes and 183 lots listed for sale in the Cape San Blas, Indian Pass and C-30 Corridor MLS.

Money Bayou Gulf View Home Under Contract Jan 2018 with List Price of $325,000

The first of our two sales is a Key West style 900-square foot, 2-bedroom, 2-bath, gulf view first tier home in Money Bayou under contract since the first week of January with a list price of $325,000. It was built in 2002, sold in early 2010 for $297,000, and closed on Thursday for $315,000.

Gulf View Lot on C-30 Under Contract December 2017 with List Price of $49,900

Moving further east along C-30, our second sale is on a 50′ by 391′, 0.44 acre, second tier gulf view lot in Treasure Shores First Addition listed for $49,900.  I found no significant previous sales data in the gulf county records.  The sale closed this week with an adjacent lot added to the mix with a final price for the two properties coming in at $60,000.

Cape San Blas Home Under Contract Feb 2018 with List Price of $699,000

Our sole contract is on this handsome home up in Park Point on the north end of the Cape. Buyers fell in love with this 4-bedroom, 4 1/2-bath, 2,080 square foot home listed for $699,000. The sellers bought the quarter-acre lot on which it sits in 2014 for $25,000 and built the home in 2016.

And just like that, we’re done.  My sense is that we are on the brink of a real estate market bout to take off with likely imminent high demand smacking into our current low supply.  If you’ve been toying with the idea of selling, now is a really good time to consider making that move. Call me and I’ll be glad to give you an assessment of what your property might likely bring in our current market. You can always reach me on my cell at 850-227-5197 or by email at sherri@sherridodsworth.com.  Have a great week, and thanks so much for taking time to stop by today.

Please follow and like us:

No responses yet

Feb 02 2018

Cape San Blas Real Estate Week in Review – Jan. 27- Feb. 2, 2018

Published by under Cape San Blas

For Sale Sold SignThe demand for coastal real estate remains strong as buyers keep on stepping up to the table to claim their own little  piece of paradise. We closed two sales, and buyers had their offers accepted on six properties. Sellers listed ten properties and changed prices on three others. We did manage to trim eight listings off our inventory, closing the week at 275, with 87 homes and 188 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 off the shelves.

Indian Summer 2nd Tier Lot Under Contract Jan. 2018 with List Price of $110,000

Only two closings this week, neither of which were Cape San Blas properties. he first sale is over on Indian Pass in Indian Summer where this 90′ by 340′ lot on Painted Pony Rd. went under contract two weeks ago with a list price of $110,000.  It’s about three quarters of an acre, and last sold in 1999 for $41,500.  This time around it fetched $102,000 with the buyer paying cash.

Country Home on C-30 Under Contract December 2017 with List Price of $345,000

Sale number two is out on C-30  past the raw bar.  The parties went to the closing table for this lovely country setting with this 3-bedroom, 3-1/2-bath, 2,000 square foot home listed for $349,000. It was built in 2000 on a 200′ by 200′, 0.92-acre lot. The sellers bought the home in mid-2002 for $195,000 and sold it on Friday for $335,000.  This, too, was a cash sale.

Cape San Blas Gulf Front Lot Under Contract Feb. 2018 with List Price of $979,000

Now on to our six new contracts the first of which is this 105′ by 644′, 1-1/2-acres gulf front lot on Cape San Blas Road just a short bit north of Scallop Cove.  The sellers bought it in the summer of 2015 for $750,000 and have it listed for $979,000.

Jubilation Lot Under Contract Feb. 2018 with LIst Price of $77,900

Contract number two is down on the south side of the Cape in Jubilation where buyers had their offer accepted on this 50′ by 85′, 0.09 acre lot which backs up to the beautiful Air Force Reserve acreage.  Back at the height of the market in late 2004 it sold for $385,000. This week it went under contract with a list price of $77,900.

Bay Front Lot in Simmons Bayou Under Contract Feb. 2018 with List Price of $319,900

We’re leaving the Cape again heading out onto C-30, this time turning left and heading over to Simmons Bay where just before you get to Presnell’s Marina and RV Camp, sellers accepted an offer on their 2-acre, 128′ wide bay front parcel listed for $319,900. The property spans from bay out to the road and is actually two parcels but they are being sold together for the one list price. They purchased the land in 2005 for $875,000.

Gulf Front Lot Near Cape San Blas Under Contract Jan 2018 with List Price of $292,900

We’ll head back east again on C-30 to just past Cape San Blas Road where the first subdivision you come to on the gulf side of the road is a little gated subdivision aptly named Curve at the Cape.  Sellers accepted an offer of their half-acre gulf front lot with 59′ of waterfront that they have listed for $294,900. Back in early 2004 it went for $420,000.

Gulf Pines First Tier Lot Under Contract Feb. 2017 with List Price of $185,000

The next subdivision is nearby Gulf Pines, one of the early area subdivisions started in the early 1980’s. It’s a quiet gulf-side community with a few rentals but many full time residents as well.  Homes here are eligible for FEMA flood insurance. Buyers were attracted to this 78′ by 168′, third of an acre first tier lot located directly across the street from the deeded gulf access. The sellers bought it in early 2004 for $435,000 and have it listed for $185,000.

Gulf Pines Gulf Front Home Under Contract Feb. 2018 with List Price of $919,900

We’ll wrap things up today over in Treasure Shores, a neighborhood very similar in age and style to Gulf Pines. Located between Money Bayou and Indian Pass it, too, is FEMA flood insurance eligible.  Here a seller accepted an offer on his 4-bedroom, 3-bath, 2,412-square foot gulf front home situated on a 75′ wide lot that measuring roughly half an acre.  He bought the home in late 1998 for $365,000 and has it listed for $919,900.

That does it for today. Glad to see we’re whittling away at our inventory of lots. If you’re toying with the idea of purchasing some coastal property, let’s get started. Call or text me at 850-227-5197 or shoot me an email to sherri@sherridodsworth.com and I’ll be glad to help you find a good fit. Have a great week and thanks so much for taking time to stop by today.

Please follow and like us:

Comments Off on Cape San Blas Real Estate Week in Review – Jan. 27- Feb. 2, 2018