Archive for February, 2019

Feb 15 2019

Cape San Blas Real Estate Week in Review – Feb. 9-15, 2019

Published by under Cape San Blas

   Our road to recovery this week manifested itself literally in our roads being recovered, with major impressive shoring up underway through not just Stumphole, but also along 98 through Simmons Bayou, with the detour route along Country Club Road receiving reinforcements to its shoulders, and repairs to 98 along Constitution Drive in Port St. Joe. Our real estate road to recovery continues as well as we closed three sales and wrote up three new contracts. Sellers added six new listings, and changed prices on three others. Our inventory remains unchanged overall from last week closing out at 240, with 60 homes and 180 lots listed for sale in the Cape San Blas, Indian Pass, and C-30 Corridor MLS market.

The first of our three sales is a bay view lot in Ovation towards the north end of the Cape. The sellers bought this 105′ by 50′, 0.11 acre property in late 2013 in a bank-owned sale for $27,000. Last month they put it under contract with a list price of $39,900, and on Friday signed over the title to the new owners for $35,000.

Sale number two is a 4-bedroom, 3/2-bath, 3,400 square foot gulf view home located just a bit north of Scallop Cove. The sellers bought it as a bank-owned sale in mid-2009 for $515,000, had it listed for $699,000, and sold it on Friday for $649,000. The MLS notes make no mention as to what or if damages were sustained by Michael, but as it is up along Cape San Blas Road it may not have been of consequence which the closing price seems to bear out.

For our third sale, we’ll turn right off of Cape San Blas Road and head over to Curve at the Cape, the first subdivision on your right after leaving the Cape.  Here buyers were attracted to this 60′ wide gulf front lot. The sellers bought the property in 2016 for $250,000, a far cry from the $650,000 it commanded back in the summer of 2004. It was originally listed in September of last year for $294,000, but they dropped the price on October 2 to $278,000 and immediately went under contract. After Michael hit the following week, that deal headed south and it came back on the market with its current list price of $259,000. On Tuesday they finally made it across the finish line and closed for $235,000.

Now on to our three new contracts, the first of which is on this 4-bedroom, 3-1/2-bath, 2,366 square foot first tier Cape San Blas home on Haven Road. The sellers bought it in the summer of 2008 for $720,000.

Down on the south side of the Cape, buyers were attracted to these two adjacent lots on Mercury Lane in Surfside Estates listed for $142,000. Together they measure 100′ x  230′, for a total of 0.54 of an acre. They sit first tier and offer excellent views of the Gulf as well as easy access to the beach.

Our third contract is out on C-30  past the Indian Pass Raw Bar.  Buyers had their offer accepted on this 3-bedroom, 3-1/2-bath, 2,000 square foot home in a lovely country setting. It was built in 2000 on a 200′ by 200′, 0.92-acre lot. The sellers bought the home in February just last year for $335,000, and have it listed for $379,000.

Housing is in critical demand locally, so if you have a house, townhouse or condo you’ve been considering selling, now is a good time to run the numbers, even if it sustained hurricane damage.  We can make adjustments for that, so let’s talk.  You can always reach me by calling or texting 850-227-5197 or emailing sherri@sherridodsworth.com. Hope to hear from you soon, and, as always, I thank you so much for taking time out of your busy schedule to stop by today.

Reminder – if you would like to read this with the links to the various listings, I can only email them to you now with our new MLS which I’ll be glad to do. Just let me know by sending me a request to sherri@sherridodsworth.com and I’ll set you up to receive my blog post with the links each week.

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Feb 08 2019

Cape San Blas Real Estate Week in Review – Feb. 2-8, 2019

Published by under Cape San Blas

  Florida’s famous sunshine found us once again this week here along the Forgotten Coast, and its bright and warming presence was welcomed by all. I saw folks lounging in their lawn chairs out in the driveway or side yard soaking up rays, not needing to head all the way over to the beach just to be happy to bask in that radiant warmth. Our market warmed up as well, closing two sales and adding six new contracts. Sellers posted twelve new listings, and changed prices on five others. Our inventory swelled by five, closing the week at 240, with 63 homes and 177 lots listed for sale in the Cape San Blas, Indian Pass and C-30 Corridor MLS market.

The first of our two sales is this 65′ wide gulf front lot on Windy Lane in Paradise Gulf West a short distance south of Rish Park on the Cape. Located in a VE flood zone, the lot had a vacation rental house on it prior to Michael. The owners listed the lot on Monday, January 14 for $525,000 and accepted a contract on it three days later. Just last Friday they went to the closing table and signed over the title to the new owners for $495,000 cash.

Our second sale is on the south side of the Cape in San Blas Plantation, where near the first of the year, a buyer had his offer accepted on this 78′ by 171′, third-of-an-acre mixed-use lot listed for $79,900. This property is just two lots over from where my office is located, and in close proximity to two rental companies and the ever-popular Scallop Republic, otherwise known as ‘The Cape’s Living Room’. The seller bought the property in 2013 for $35,000, and sold it on Monday for $80,000 cash.

Now on to our six new contracts starting off with this 51′ by 548′, 0.54-acre gulf front lot in Monarch Beach listed for $549,000. Platted in 2017, this little subdivision is located on the Cape just a bit south of Rish Park and Hibiscus Beach. It has modest annual HOA fees of only $250.

A little south of Monarch Beach and adjacent to the north side of Cape Palms Park is Cape Shoals, until recently home to a number of gulf front townhouses which sadly succumbed to the forces of Hurricane Michael. Today Cape Shoals is home to detached single family homes such as this 3-bedroom, 3 1/2-bath, 1,853 square foot 2nd tier home listed for $495,000. It is situated on a 90′ by 120′, quarter-acre lot, and was purchased by the sellers in early 2003 for $342,000.

A bit further south on the bay side of the Cape directly across the street form Seagrass is where our third contract is located. Buyers jumped on this100′ by 800′, 1.85-acre bay front lot the very day it was listed for $279,000. The family who owns this lot and the adjacent multi-acre parcel have owned the property for quite some time so no sales data is available on the county appraiser’s site.

Our fourth new contract takes us down to the south side of the Cape to San Blas Plantation where sellers accepted an offer on their 88′ by 971′, 1.67-acre gulf front lot listed on Tuesday for $320,000; by Thursday buyers had penned an acceptable offer and under contract it went. This property last sold in 1995 for $90,000.

We’ll leave the Cape for the first time today and head north on SR-30 towards Port St. Joe for our fifth new contract, which is on this 4-bedroom, 3-bath, 1,779 square foot home listed as is for $360,000. It sustained some flooding damage on the ground level from storm surge from the bay during Michael, most of which as been remediated at this point. It was listed on January 7 and went under contract Friday, Feb. 8.

We’ll circle back and head west on over to Money Bayou for our sixth and final new contract which is on this miniscule 35′ by 80′, 0.064-acre, second tier AE lot listed on Tuesday for $89,000 and under contract merely three days later.  This pleasant little old Florida neighborhood has no HOA or HOA fees.

And that wraps it up for today. Pleasantly surprised to see such a healthy amount of interest and activity in our market. What I’m seeing in these super short list to contract times is a strong market re-emerging. I’m increasingly confident 2019 is going to be a good year. If you’re toying with the idea of buying or selling in our area, now is a good time for us to talk. You can always reach me by calling or texting 850-227-5197 or emailing sherri@sherridodsworth.com. Either way, I hope to hear from you soon, and thank you so much for taking time out of your busy schedule to stop by today.

Reminder – if you would like to read this with the links to the various listings, I can only email them to you now with our new MLS which I’ll be glad to do. Just let me know by sending me a request to sherri@sherridodsworth.com and I’ll set you up to receive my blog post with the links each week.

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Feb 01 2019

Cape San Blas Real Estate Week in Review – Jan. 26-Feb. 1, 2019

Published by under Cape San Blas

Another week, another step forward towards recovery from Michael.   Our passage through Stumphole is markedly improved, and a few more businesses have reopened in town.  Our sales and contracts markedly improved this week as well, exactly doubling what we did last week by closing two sales and writing up four new contracts.  Sellers added eleven new listings, and changed prices on five others.   Our inventory inched up by just one, closing the week at 235, with 67 homes and 168 lots listed for sale in the Cape San Blas, Indian Pass and C-30 Corridor MLS market.

The first of our two sales is a 75′ by 112′, 0.19-acre fourth tier gulf view lot on the Cape peninsula in The Preserve at the Cape. The Preserve is located south of Rish Park and just north of Seagrass. This was a direct sale from the developer so no sales history on it. It came on the market December 13 with a list price of $139,000, went under contract on Jan. 2, and closed last Friday for $100,000 cash.

Cape San Blas Gulf Front Home Under Contract Nov 2018 with List Price of $998,000

Our second sale is a 4-bedroom, 3-bath 2,475 square foot home on a 50′ wide gulf front lot on Clifton Place near Scallop Cove, originally listed for $998,000, but that price was dropped to $599,000 on January 4 after a previous contract had failed, and went back under contract again just five days later.  According to the MLS notes, the house sustained “some wind and water damage, drywall being removed, treated for mold and will be ready to repair! Roof, pilings no damage“. The photo above is pre-storm. The sellers bought the house in 2010 as a bank-owned sale for $410,000 and signed it over to the new owners last Friday for $540,000 cash.

Now on to our four new contracts starting off with this 4-bedroom, 3-bath, 1,871 square foot first tier home on Sugar Loaf Lane just a little south of Scallop Cove. The sellers bought the lot on which it’s located for $110,000 in the summer of 2012 and completed construction on the home just three years later in 2015. They listed the house for sale last August for $689,000 and accepted an offer on it last Thursday.

Down on the south side of the Cape in Jubilation, buyers had their offer accepted on this 4-bedroom, 3 1/2-bath, 2,490 square foot home listed for $599,900. Construction was completed just last year on a lot for which the sellers paid $56,800 in mid-2017.

Next door to Jubilation is San Blas Plantation which is home to our third new contract, an 85′ by 722′, 1.22-acre gulf front lot listed for a steal at $289,000. That’s a far cry from the $84,000 the seller paid for it way back in 1988. According to my handy dandy inflation calculator, in today’s inflation-adjusted dollars that’s equivalent to $186,791.34.

For our fourth and final new contract we’ll head on over to South Palm Street on Indian Pass where buyers fell in love with this 75′ by 105′, 0.18-acre  gulf view lot listed for a very attractive $195,000. Though there is a recorded, platted lot seaward of it, according to the MLS notes the owner states that lot is unbuildable. This neighborhood, Indian Pass Beach Subdivision, was platted in the early 1950’s and is grandfathered for FEMA flood insurance so the CBRA designation on much of the rest of Indian Pass doesn’t apply here. This lot last sold in 2011 for $150,000; prior to that, it sold in 2004 for a whopping $425,000, roughly $565,000 in those inflation-adjusted $$$.

That does it for today. I’m pleased to see continued steady interest in our market, meaning others realize we really are steadily recovering from Michael and getting better every day. If you’re thinking of buying or selling, I’ll be glad to help you, so let’s talk. You can always reach me by calling or texting 850-227-5197 or emailing sherri@sherridodsworth.com. Either way, I hope to hear from you soon, and thank you so much for taking time out of your busy schedule to stop by today.

Reminder – if you would like to read this with the links to the various listings, I can only email them to you now with our new MLS which I’ll be glad to do. Just let me know by sending me a request to sherri@sherridodsworth.com and I’ll set you up to receive my blog post with the links each week.

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