May 20 2016
Our long overdue April showers finally arrived this week drenching us over several days with some very much needed rain, though for our visitors’ sakes I hate to see it delivered during the day. Even so, all that soggy stuff didn’t dampen our market, as we closed seven sales and wrote up four new contracts. Sellers signed five new listing agreements, and changed prices on three others. Our inventory remained unchanged at 260, with 85 houses and 175 lots listed for sale in the Cape San Blas, Indian Pass, and C-30 Corridor MLS market.
The first of our seven sales is this elegant bay front home on Cape San Blas across the street from the Sea Grass subdivision. The sellers purchased the 3,455 square foot, 3-bedroom home on roughly 2.25 acres with 125′ of waterfront in June 2012 for $675,000, and have it listed for $650,000. They’ve had it on the market since early 2011 when they opened with an asking price of $899,900, and on Monday they were finally able to go to the closing table, happily handing over the keys for $645,000.
Across the street in Seagrass, sellers closed on their 4-bedroom, 4 1/2-bath, 2,215 square foot gulf view house listed for $549,900, a bit of a hit since they paid $890,000 for it in 2005. According to the MLS notes, when the parties closed on Monday for $500,000, the seller brought additional funds to the table to address some maintenance issues.
Next door in Ocean Haven on Haven Road is a third of an acre first tier lot listed for $238,000. According to the county property appraiser’s records it last sold for $500,500 in November 2004. I wanted to make sure that amount wasn’t for a multiple sale so I went to the county clerk’s records, and sure enough, that was the price for this single lot. On Friday the parties closed for that full list price of $238,000.
Down on the south side of the Cape in Jubilation this next property generated quite a bit of interest when it went on the auction block last Saturday at the beginning of March with a suggested opening bid of $295,000. Seems like a screaming deal for a 3-bedroom, 3-bath, 1,966-square foot bank-owned home that was built and sold in 2006 for $780,000. She has been sitting vacant for several years and is going to need a fair amount of TLC to restore her to her former grandeur. There are no appliances, no furnishings, no window treatments. The winning bid was $391,000, to which a 5% buyer premium was added at closing, for a final bottom line price of $410,000.
This next sale is over in Money Bayou on Sweetwater Drive where buyers made a wise choice snapping up this 50′ wide, half-acre gulf front lot listed for $278,000. This is a terrific area along the south-facing beach and is FEMA-eligible. The sellers bought the property in late 2009 for $109,900 and more than doubled their money on Monday, settling for $260,000.
Our final two sales today are over on Indian Pass beginning with this bank-owned 7 1/2-acre lagoon front parcel under contract since early last month with a list price of $429,500, a far cry from the $2.1M it commanded in late 2004. This peaceful parcel measures 606′ on the waterfront. The new owners took title on Tuesday for $400,000 even.
Our seventh and final sale is a recently listed property that went quickly under contract April 1 with an asking price of $79,000. This is a 2.32-acre lagoon front parcel near the boat launch at the tip of the peninsula. It’s a pretty setting with what appears to be a fair amount of wetlands. Somebody has plans for it and closed on Wednesday for $70,000.
Now onto our four new contracts heading up to the north end of the Cape to Park Pointe. Here buyers penned an offer on a bank-owned, quarter acre interior lot listed for $43,500, quite a bargain from the $370,000 it sold for in November 2004.
Just south of the newly renovated and recently re-opened Coneheads restaurant on Spinnaker, the parties came to terms on a 226′ by 248′, 1.29 acre interior lot for which the seller is asking $85,000. This lot was one of several lots cut from a larger parent parcel the seller purchased in 2012 for $115,000.
About a mile further down Cape San Blas Road just past Westwind drive on the gulf side, buyers wrote an offer on this 95′ by 166′, one third acre lot listed for $94,500. All the properties in this little subdivision known as Paradise Gulf enjoy deeded access to both the gulf and bay.
Some buyers were eagerly anticipating scallop season setting their sights on this 100′ by 471′, 1.1-acre bay front lot overlooking Pig Island. It’s listed for $290,000, and last sold in 2003 for $269,000. If it looks a little familiar, that’s because it briefly had a contract on it in mid-March that didn’t work out.
That’s a wrap for this week. As you can see, sales activity continues along at a brisk pace, so if you’re considering finding a good value here along the coast for yourself, I’d love to help you. Please call or text me at 850-227-5197 or send me an email to email@example.com and we’ll get started. As I’ve said before, I love turning readers into neighbors. Have a great week, and thanks so much for taking time to stop by today.