Jul 03 2015
What a wild and wonderful whirlwind two weeks it has been since last we met. Lots of excitement with our company, Boardwalk Realty, and Coastal Realty Group melding into one great big, happy, power-house real estate family. I’ve been working with so many wonderful buyers helping them negotiate contracts, and with several sellers getting their properties ready for market. In the past fortnight, our MLS has recorded nine sales and nine new contracts, eleven new listings, and fourteen price changes. We welcome the holiday weekend with our inventory slimmer by three, at 266, with 84 homes and 182 lots listed for sale in the Cape San Blas, Indian Pass and C-30 Corridor MLS. We have a lot to see today, so let’s get rolling!
The first of our crop of nine sales has us starting off on the north end of the Cape on the bay side with a 60′ by 552′ bay front lot adjacent to the state park that went under contract at the end of May with a list price of $250,000. This listing was added the same day the sellers put it under contract. The property is a portion of a 5-acre parent parcel with 423′ of waterfront the sellers purchased in mid-April for $400,000, and they’ve now sold this newly platted lot for $225,000.
Two of our sales are in Ovation, starting with this gulf side first tier lot listed for $199,000. The seller got a steal of a deal on it in December 2013, picking it up at a bank sale for a very sweet $86,000, a far cry from the $775,000 the developers sold it for in 2005. On Monday it closed for $171,000.
Over on the Bayside of Ovation, the parties negotiated an agreement on this bay view lot on the 24th, and closed on the 2nd. This is the third time in as many years this property has changed hands, having been sold by the developer in May 2012 for $22,500, then again in February of 2013 for $35,000, and finally this time around for $72,500. The sellers had it listed for $77,500.
We’ll mosey about a mile southward to Rosemary Dunes, where the parties closed on this 3-bedroom, 3-bath, 1,900 square foot gulf front home nearing completion sporting a $429,000 price tag. It’s nestled on a 40′ wide, “X” zone lot just south of Rish Park, and on Thursday the buyers picked up the keys to their beach dream at closing for $401,500.
We’ll head on down to the south side of the Cape now for our next sale, a comfy 3-bedroom, 2-bath, 1,568 square foot gulf view home on Pebble Beach Drive that was listed for $349,900. It’s owner-occupied, very well maintained and has a pleasant distant view of the gulf from the decks. The sellers bought the lot alone in 2001 for $48,500 an sold the home on Wednesday for $328,000.
No, this isn’t a shot of a lunar landing site, it’s Villa del Sol, a remnant from the real estate bubble peak when developers did this project on acreage spanning from gulf to bay. They bulldozed from the road to the gulf, sank a fortune into infrastructure and advertising, then went bust, only managing to sell about a half a dozen lots before doing so. This is one of those lots. The sellers bought it in the summer of 2005 for $460,000 and put it under contract in late May with a list price of $39,900. New owners took title on the 26th for $38,500. Villa del Sol was bought by a group of investors about two years ago so hopefully they will be able to breathe new life into the project.
A few blocks past Villa del Sol is a little-known micro-subdivision of Lantana by the Sea, home to our sixth sale, an irregularly-shaped first tier lot listed for $69,900, which sold last week for $55,000. The large portion of this lot is listed as being 40′ wide by 215′ deep.
Our eighth sale takes us off the Cape and out on to C-30 and over to Treasure Shores First Addition, just west of Indian Pass Raw Bar. The sellers had a 100′ by 300′, 0.69-acre lot listed for $65,000 that they sold for $58,000. They bought it in late 2002 for $87,500.
Our ninth and final sale is over at Indian Pass where this 75′ by 110′ “X” zone interior lot on Palm Street in Indian Pass Beach Subdivision went under contract in mid-June with an asking price of $99,500. The sellers bought it in late 2013 for $75,000, and sold it last week for $89,500.
Eight of our nine new contracts in the past two weeks are on Cape properties, beginning with this quarter-acre lot up in Park Point on the north end of the cape. This secluded little subdivision adjoins the state park, and is a quiet and peaceful setting. The sellers bought the lot in 2012 for $25,000, and have it under contract with a list price of $55,000.
Our next two contracts are in nearby Barrier Dunes, starting with this 2-bedroom, 2 1/2-bath, 1,377 square foot townhouse listed for $269,000. This circa 1990 home is one of a very few homes in this complex located in the X flood zone. The sellers bought it in early 2006 for $364,000.
Over on Parkside buyers made an offer on this 3-bedroom, 3 1/2-bath, 1,172-square foot townhouse built in 19895. The sellers bought it in 1999 for $78,900 and have it listed for $187,000.
Less than a quarter-mile south of Barrier Dunes not far from Coneheads restaurant, this gulf view lot attracted a fan who saw the $92,000 price tag and took the plunge. This property is one lot of a 3-lot minor replat of the parent tract which originally ran from Cape San Blas Road to the gulf and is the first time it has sold since that replat.
Peninsula Estates is home to our next contract which is on this 3-bedroom, 2-bath, 1,298-square foot home originally built in 1987 but has gone through extensive renovations since. This subdivision spans from gulf to bay, and all owners enjoy deeded to access to both. This home is on the bayside of the community. The sellers bought the property in August 2005 for $350,000 and subsequently renovated, re-furnished, and added an in-ground pool. Buyers have it under contract with a list price of $299,900.
Here’s a beauty on the bay. Situated on 2+ acres with 125′ of bay front, this 3,455 square-foot stately home has an enclosed air conditioned Florida room with built-in smoker grill, dining table and sitting area facing the bay bringing the outside inside. There are two complete master suites, 4 bedrooms total, and 3.5 baths. Outdoor deck is just off the Florida room and a screened porch perfect for viewing the wild life. There is a shared dock and a small private pond on the grounds. The sellers are asking what they paid for it in mid-2010, $675,000.
We’re heading south down Cape San Blas Road a mile or so to Antilles to this duplex where one side went under contract Tuesday with a list price of $219,000. The 2-bedroom, 2 1/2-bath, 1,400 square foot unit is located in an X zone, and last sold in June 1999 for $80,400.
Down on the south side of the Cape in Jubilation buyers had an offer accepted on this 50′ by 85′, 0.10-acre X-zone lot listed for $62,500. The sellers paid $395,000 for it in December 2004, but it is not listed as a short sale.
Our ninth and final new contract takes us back over to Indian Pass to the Reservation. Here buyers penned a deal on this 52′ by 170′, quarter-acre second tier lot listed for an attractive $29,900. The sellers paid $33,500 for it in mid-2012.
And that’s a wrap! I want to take a moment to apologize for not honoring my commitment last Saturday to have last week’s review posted by Sunday. Between working with so many wonderful buyers, the company merger, and setting up several new listings, my To-Do list simply exceeded hours on my calendar. Glad to be back today and getting the market news out to you. There is a lot of demand for property, so if you’re thinking of buying or selling, I’d love to help you. Call or text me at 850-227-5197 or reach me at firstname.lastname@example.org . With Boardwalk and Coastal Realty combining our considerable resources, we’re poised stronger than ever to provide the expertise, marketing resources, and attention to detail you deserve.
Have a safe and exuberant Independence Day Weekend – hope to see you back soon!