Mar 21 2015
Just another gorgeous week in paradise with warm sunny weather nudging the azaleas, wisteria and wild flowers of spring into full bloom. Our real estate market remains in full bloom as well, with eight sales and ten new contracts, fourteen new listings and five price changes. Our inventory remains unchanged still at 244, with 85 homes and 159 lots listed in our MLS in the Cape San Blas, Indian Pass and C-30 market.
Let’s begin our review of this week’s mega-crop of eight sales in Hibiscus Gulf, where our first sale is one of the developer’s few remaining lots on the gulf side of the road, an irregularly shaped quarter-acre gulf view lot that went under contract February 1 with a list price of $195,000. On Tuesday the parties went to closing and the proud new owners picked up the title for $189,000 cash.
We’ll mosey on down the road about a mile and a half to Antiqua where this 3-bedroom, 2-bath circa-1985 1290 square foot gulf view “condo” (in name only) caught a couple’s attention back in January with its $269,900 price tag. The sellers purchased one of the two top floor units of this quad-plex in late 2013 for $219,000 and have renovated and decorated it very nicely. The happy new owners picked up the keys at closing on Friday in exchange for a check for $260,000.
Down on the south side of the Cape on Sandpiper Drive in San Blas Plantation this next sale is a 132′ by 100′ foot interior lot that went under contract Feb. 25 with a list price of $59,900. The sellers bought it in early 2004 for $190,000, and sold it on Monday for $58,000.
A few blocks down the street in Two Palms subdivision we have a sale on a first tier one-third acre lot that was listed for $115,000, a far cry from the $170,000 it went for in mid-2000. On Wednesday it sold for $108,500.
Out along C-30 our fifth sale is a bay view, half-acre lot that went under contract last Saturday with a list price of $38,500 and on Friday the sellers picked up a check at closing for $27,000. There’s been a lot of construction along this stretch in the past few years. These sellers have owned the property since 1990 when they purchased it for a modest $8,000.
For our next sale we’ll travel east along C-30 over to Treasure Shores where this 94′ by 116′, quarter-acre first tier lot went under contract three weeks ago with a list price of $110,000. Twenty-one years ago in 1994 the sellers were able to pick it up for $18,000, and on Monday they signed the title over to the new owners for $97,500.
Over on Cottage Lane in the Cottages at Indian summer we had another quick cash sale on a second tier lot listed for $34,000 that went under contract on Saturday and closed Friday for $30,000. Last time it sold was in February 2004 when it went for $225,000.
We’ve made it to our eighth and final sale, a lovely 50′-wide, 1-acre lot on Indian Pass Road spanning all the way from the gulf to the lagoon listed for $230,000. The seller has owned this for a very long time so the property appraiser’s site has no sales data entered. On Wednesday the new owner took title for $209,000 cash.
We begin our review of this week’s ten new contracts way up on the north end of the Cape in Secluded Dunes, with two lots that border the state park. This 150′ by 250′, 0.84 acre property .went under contract on Monday with a list price of $119,000. These lots sold back in October of last year when they were also listed for $119,000 and our seller got them for $100,000.
Our second contract takes us to nearby Barrier Dunes where this 2-bedroom, 2 1/2-bath, 1,377 square townhouse went under contract on St. Patrick’s Day with a list price of $275,000. The home is overlooks a peaceful little pond on Sandpine Drive, and has surprisingly good gulf views as well. The sellers bought it in 2001 for $179,900.
Our third contract is another townhouse, this one a 2-bedroom, 2 1/2-bath, 1,120 square foot unit that went under contract on Thursday with a list price of $299,999. It was a bank-owned property when the sellers bought it in March 2011 for $145,000. They have since renovated and furnished it to a very nice level, and should see a bit of a profit at closing.
Our fourth contract is on a 5-bedroom, 5-bath, 2,471 square foot gulf front home on Summerhouse Lane in San Dunes listed for $1.1M. This was a shell of a home stopped in mid-construction years ago that just sort of languished on the site untended before finally ending up as a bank sale. The current owners bought it at the end of 2012 for $375,000 and have invested in finishing and furnishing the place, taking it to the lovely level at which we find it today.
Buyers wanted gulf front houses this week, and no wonder as warm and beautiful as those lovely teal waters have been lately! Contract number five is on another gulf front home just a few hundred feet south of Scallop Cove. This 4-bedroom, 4-bath, 2,344 square foot waterfront home built in 2005 went under contract on Friday with a list price of $699,000.
Just a little further south this next contract is on a 4-bedroom, 3-bath, 1,760 square foot first tier home listed for $699,900. The sellers bought it in mid-2005 for $325,000, and then did major renovations to remove the exterior stucco walls, replace windows throughout, etc.
We have yet another townhouse under contract, this one a gulf front Sunrise-Sunset unit down by the rocks at Stumphole. The sellers bought this 3-bedroom, 2 1/2-bath, 1,360 square foot home in 2001 for $171,428, and put it under contract on Thursday with an asking price of $234,900.
We return to the south side of the Cape for our eighth new contract which is on 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.
A few blocks away on Mercury Lane in nearby Surfside Estates, we have a contract on a bank-owned quarter-acre first tier lot listed for $65,000. PNC acquired it from owners who bought it back in 2004 for $345,000.
Our tenth and final new contract finds us back over in Two Palms where the owners of this lovely 4-bedroom, 4-bath, 3,789 square foot first tier home had a veritable feeding frenzy on their place last week, receiving multiple offers in rapid-fire fashion. One lucky bidder emerged victorious and was awarded the contract on Monday. This beautiful home was built in 2005 when it sold for $1,126,000.
I am out of time as I have to show property in just a short while – as gorgeous as the weather and gulf are this weekend it hardly seems fair to show people real estate as they just don’t stand a chance! We are having Florida postcard picture-perfect weather right now. Lots going on – great values to be had so if you’re thinking it’s time to make your move, give me a call at 850-227-5197 or email to firstname.lastname@example.org . Wishing you a fantastic first weekend of Spring! I so appreciate your taking time out of it to stop by today.