May 16 2015
What a wild week! Never thought I would have my website hijacked but just goes to show you never know. We now seem to have wrestled it back under control. Real estate kept right on moving along with nine sales closed, but just one new contract. Sellers added four new listings, and put new price tags on six others. Our inventory hardly budged, bumping up by just one, closing the week at 259 with 84 homes and 175 lots listed for sale in the Cape San Blas, Indian Pass and C-30 Corridor MLS market. Let’s see what buyers have been snapping up.
To begin our review of this week’s nine sales, we’re heading up to the north end of the Cape to Park Point where this roughly quarter-acre lot measuring 169′ by 60′ bank-owned lot closed on Thursday for $34,000 cash, basically 10 cents on the dollar compared to the $335,000 it sold for in 2005. This was not listed in the MLS but sold by an agent who brought an offer to the bank.
In nearby Seacliffs, our second sale is a bank-owned 4-bedroom, 4 1/2-bath, 1,974 square foot gulf view townhouse. If it looks a bit familiar, that may be because it had a contract on it in February that didn’t work out. At this point, all of the carpeting has been removed and she’s going to take a fair amount of work and additional capital investment to get her up and running again. The bank acquired it in July 2007, accepted an offer in mid-April with a list price of $255,000, and signed over the title on Monday for $245,000.
Sale number three is next door in Barrier Dunes where we have a rare offering for this complex: a gulf front townhouse. These units do not turn over all that frequently. Buyers negotiated a deal on this 3-bedroom, 3 1/2-bath, 1,716 square foot beach front beauty listed for $419,000. It wasn’t a short sale despite the seller’s having paid $595,000 for it in mid-2006. They closed on Friday for $345,000, with the buyer paying an additional $20,000 for the furnishings.
This next sale is an oddly-shaped quarter-acre lot on Bamba Way, just south of Coneheads Restaurant. It’s a second tier lot with deeded gulf access listed for $89,900. This wasn’t a short sale despite according to public records the sellers having paid $500,000 for it in April 2005. On Monday the parties closed for $70,000.
A little bit further down the road in Ovation on Echo Lane folks closed on a first tier bay view lot bargain priced at just $79,900. The sellers bought it in the summer of 2012 for $59,000, and sold it on Friday for full list price.
We’ll travel to the south side of the Cape for our sixth sale, a lovely 4-bedroom, 4-bath, 2,456 square foot vacant home listed for $549,000. It’s on a second tier “X” zone lot in Jubilation that the sellers bought undeveloped in late 2004 for $292,500. Windolf Construction built the home the following year. The proud new owners picked up the keys at closing on Friday for $533,000.
Next on the menu is a For Sale By Owner (FSBO) interior “X” zone lot on Pebble Beach Drive in Surfside Estates that closed on Monday for $77,000. Interesting to note that the sellers bought it for $150,000 in early 2004, and two years prior to that in April 2002 it sold for $85,000.
Our eighth sale takes us over onto C-30 where this 3-bedroom, 2-bath, 1,380 square foot home went under contract late last month with a list price of $192,500. The sellers bought it in April 2013 for $165,000, and prior to that it sold in early 2007 for $185,000. On Monday it settled for $170,000 cash.
Our ninth and final sale is east on C-30, out past the Indian Pass Raw Bar. Here a lot on Indian Pass Lagoon with 83′ of water frontage went under contract in late April with a list price of $34,900. The seller bought it in mid-2011 for $25,000, which is exactly what it sold for on Tuesday, with the buyer paying all closing costs.
Our one and only lonely new contract is on a bank-owned property with a very sad past in Villa del Sol subdivision on the south side of the Cape. Back in May of 2005, the original developers sold it to a buyer for $750,000. A year later he listed it for sale for $725,000, willing to take the loss, but was never able to attract a buyer. The bank acquired it just last month.
That’s a wrap for this week. Great to see all these properties moving again. If you’re interested in buying or selling, I’m interested in helping you! Call or text me at 850-227-5197, or reach me at firstname.lastname@example.org . I much prefer spending my time focusing on making happy buyers and sellers rather than computer gremlins. Hope all is good in your world, and I really appreciate your taking time away to visit today.