Cape San Blas Real Estate Blog

If we keep this pace up, 2012 is going to be a strong year moving a lot of properties out of the inventory.  We had another impressive showing, with four sales, four new contracts, eleven new listings, and four price changes.  With all that activity, our inventory started inching back up again, closing at 379, up four from last week, with 91 homes and 288 lots listed in the MLS for the Cape San Blas, Indian Pass and C-30 Corridor market. Let’s take a look at what buyers picked up this week.

‘We’ll get our review of this week’s four sales underway beginning where we so often do, on the Cape up at Barrier Dunes, where this 2-bedroom, 2 1/2 bath, 1,172 square foot townhouse situated on a pond back by the park went under contract just last week wth a list price of $144,500, well below the assessed value of $162,131. It wasn’t listed as a short sale even though the seller paid $210,000 for it in May 2003.  On Thursday the buyer picked up the keys at closing for $130,000.

Óur second sale is on the south side of the Cape in Jubilation, where this bank-owned tiny lot measuring just 51′  by 80′ (0.09 acre) went under contract on Wednesday with a list price of $40,000, roughly 12 cents on the dollar of the $320,000 it last sold for in October 2004.   The county has it valued high at $70,000, and on Friday it sold for exactly half that, $35,000.

We’ll leave the Cape and head north on C-30 to the first subdivision on the left, Marnie’s Island, for our third sale. It’s an irregularly shaped 0.6 acre bank-owned bay front lot listed for $69,000, below its current assessed value of $85,000. Originally sold in December 2004 for $315,000, it sold again in February 2007 for $310,000. On Friday it closed for $55,000.

 Our fourth and final sale is on a bank-owned first tier 4-bedroom, 3-bath, 1,830 square foot house  at Indian Pass builit in 2003 and last sold in January 2006 for $1M. It has been on the market since October of that year when it was originally listed for $949,000. Suntrust took it back last summer and listed it for $349,900, a good bit above the county’s assessed value of $277,454, but not too far of what it sold for on Wednesday, $320,000.

The first of our four new contracts is on this expansive 6-bedroom, 4 1/2-bath, 4,266 square foot gulf front home in the popular Two Palms subdivision on the south side of the Cape. Originally listed back in May 2008 for $1.7M, it went under contract on Friday as a short sale with a list price of $799,900, well above the county’s assessed value of $619,014.  The MLS notes detail the home nicely:

Gulf Front with 100′ of beach frontage. Three floors of living space make this an exceptional gulf front home! Special features include a dumb waiter, 2 fireplaces, 2 large fully-equipped kitchens (cherry cabinets in main area kitchen), 2 laundry areas-Whirlpool Duet set on main floor; and a Jacuzzi in the master bath. The bottom floor sports a wine cooler and separate ice maker; the deck downstairs has a sink w/running water, several outside shower heads, enclosed shower area, & large entertainment area. Large screen porch overlooking the gulf is perfect for relaxing in the teak chairs & watching spectacular sunsets year round. The ramp to the beach is wide enough for your golf cart. Constructed with extra large pilings & steel beams.

We’ll head once again out along the C-30 Corridor, this time heading east until we reach this second tier gulf view lot listed on Saturday for $59,000 and under contract lightning quick by Wednesday.  It’s an irregularly-shaped property measuring roughly a quarter acre which the county has valued at $50,000.

A mile or so further east on C-30, we have a lagoon front lot under contract as a short sale with an attractive list price of $49,900.  It has a sales history illustrative of the real estate bubble, having sold in August 2003 for $135,000 then reselling the following year in October 2004 for $260,000. Today the county has it valued at less than 10% of that, having it at $24,984.

 Our fourth new contract this is on a gulf front spec home on Indian Pass, a 3,076 square foot, 4-bedroom, 3-bath home situated on a .26 acre lot with 50 feet of gulf frontage.  It was originally listed  in July of 2007  for $1.395M, but now it is a short sale with that list price down to $599,000, well above the county’s assessed value of $484,483.  With it being a short sale, we won’t know for some time when it’s likely to close.

That’ll do it for today.  I’m looking for new listings so if you’re thinking of selling, let’s talk. Call or text me at 850-227-5197 or email me at sherri@sherridodsworth.com. I hope wherever you are this weekend you’re warm and cozy. If you’re up there in blizzard country shoveling snow, keep in mind our “white drifts” are warm and sunny, and waiting for you here along Florida’s Forgotten Coast.

January seems to have brought not just the new year but spring itself.  We’ve had such unseasonably warm weather that my azaleas started to bloom this week when we usually dont’ seem them until March.   There’s nothing in the 10-day forecast about cooling off, and our real estate market is following suit turning in yet another unseasonably warm – no, make that “hot” – performance. What an action-packed week we had: closed  an impressive five sales, wrote six new contracts, one of which has already closed, entered eleven new listings and lowered prices on four properties.   Our inventory comes in relatively unchanged at 375,  with 93 homes and 282 lots listed  in the MLS for the Cape San Blas, Indian Pass, and C-30 Corridor market. We have a lot of territory to cover today, so settle back, make yourself comfortable, and let’s get started. 

The first of our five sales is located on the Cape in the vicinity of The Tradin’ Post in Feather Sound, a 2-bedroom, 2-bath, 900 square foot gulf view beach cottage built in 1990. This was originally one of six cottages located at Stumphole until Hurricane Opal washed them off their foundations in 1995 when the road washed out. All but one of the buildings survived intact and were relocated to various lots on the Cape and renovated.  This one became a good little rental property and has an interesting sales history:  in July 2003 it sold for $285,000 and then resold a year later in August 2004 for $438,000. Those sellers listed it in May 2006 for $619,000 but were unable to attract a buyer until finally getting it down to a list price as a short sale for $249,000. On Wednesday they closed for $210,000, well above the county’s assessed value of $155,468. 

  Our second sale is down close to the southern end of the peninsula near Stumphole; it’s a gulf front lot, 44′ wide, bank-owned, was listed for $125,000 and sold this week for $122,500, well below the county’s assessed value of $150,000. This southern area has a history of serious erosion. 

  Our third sale is down on the south side of the Cape at Cape Dunes and it is a 2-bedroom, 2 1/2-bath, 1,019 square foot one-side of a duplex fronting Cape San Blas Road.  The home was listed in September as a short sale for $150,000, a price that immediately attracted a buyer that resulted in a contract.  It was built and sold in May 2003 for $195,000, and resold exactly one year later in May 2004 for $302,500. They put it back on the market the following April for $425,000 but were never able to find a taker, and they reduced the price repeatedly until it last expired in late 2010. On Friday it sold for $125,000, roughly 10% above the county’s assessed value of $111,525. 

Our fourth sale went under contract and closed within the week.  It’s a first tier gulf view lot out on the C-30 Corridor as you head towards Indian Pass in a micro-subdivision known as Indian Palms.  Measuring roughly 65′ x 150′, or about .25 acre, the developer originaly listed it in March 2005 for $575,000. By now that asking price was down to $94,000, and on Friday it closed for $88,000, well above the assessed value of $60,000. 

Heading east over onto the Indian Pass peninsula our fifth and final sale was a former Pick of the Week, a bank-owned magnificent gulf front home at Indian Pass, originally offered in 2007 for $1.999M, listed at fire-sale pricing of only $629,900. When only the finest will do, this 5-bedroom, 5-bath home with 3,861 square feet of living space should fill the bill. Wide outdoor decks span the gulf front side of each of the living areas, expanding the total footage to 6,140. If the surf’s a bit rough, cool off in the in-ground pool overlooking the beach. Ease of access to each level of the home via elevator. You could not recreate this fine home today on a comparable gulf front lot at this price. People often tell me they’re looking for a “steal of a deal” and one savvy buyer snapped it up this week for the amazing price of just $587,500. 

Now on to our six new contracts, beginning where we so often do, on the Cape up at Barrier Dunes, where this 2-bedroom, 2 1/2 bath, 1,172 square foot townhouse situated on a pond back by the park went under contract on Friday morning wth a list price of $144,500, well below the assessed value of $162,131. It’s not listed as a short sale even though the seller paid $210,000 for it in May 2003.  According to the listing agent, there is an inspection contingency which should be completed by Monday and if that inspection reveals no show stoppers the parties will be ready to close quickly. 

Our second contract is on a gulf front  beauty on Hartley Lane, just a little south of Rish Park towards the north end of the Cape. This is a great home in need of some TLC.  She’s a big gal, 2,788 square feet with a spacious open layout and lovely furnishings throughout. It has 3 bedrooms and 3 baths and a whole lot of wrap-around decks and porches, for a total square footage of 7,704. This one’s a short sale with a list price of $499,000, having last sold for $1.5M in the summer of ’04.  That list is way below the county’s assessment of $613,993. 

Our next contract takes us about a mile down the road to San Dunes to this half-acre, “X”-zone, 50′ wide gulf front lot last sold in mid-2004 for $750,000 and currently listed as a short sale for $325,000, nowhere near the county’s assessment of $200,000, which seems too low to me for a gulf front lot in this location. Someone’s going to get a good property here as this is one of the nicest little subdivisions on the Cape.  

Just a few blocks further south our next contract is on a gulf view lot in Seagrass. It first sold in June 2004  for $345,000, then again the following may in 2005 for $589,000, and goes under contract this week as a short sale with a list price of $97,000, just a smidgen below the assessed value of $105,000. 

Just a another short way further south our fifth contract is on a handsome 4-bedroom, 3 2/2-bath, 3,400 square foot home built in 2004. This beautifully appointed and furnished home was listed on January 8 for $599,000 and has an impressive gross rental performance in excess of $80,000.  In December of 2004 it sold for $757,300 but went to foreclosure, subsequently going back to the bank who sold it  to the current owners in May 2009 for $545,000. 

We’ll head back out on to the C-30 Corridor for our sixth and final new contract, this time heading north towards Port St. Joe. This one’s a bay view lot in Treasure Bay measuring 101′ x 290′, or about 0.67 of an acre, and listed for $38,500. Here’s one with another interesting sales history. In early 2001 it sold for $14,000, then resold in December 2003 for $89,000, then again just the following summer in July 2004 for $162,500.  The county’s somewhere between those 2001 and 2003 prices, having it valued at $25,000. 

What a marathon!  Three of our five sales and three of our new contracts were homes, so relative to our inventory of lots we’re continuing to see a highly disproportionate demand for developed property, resulting in our lot inventory increasing by 37%  this January over a year ago.  Therefore, buyers looking for second homes or income-producing properties should factor in a greater sense of urgency in submitting offers than those shopping for lots.  If you’re in the market for either, I can help. Please call or text me at 850-227-5197 or shoot me an email to sherri@sherridodsworth.com and I’ll be glad to help you get started.   I enjoy hearing from and working with my readers, and thank you so much for taking time to stop by today. 

Azaleas in January at Cape San Blas

2012 continues off to a strong start roaring along this week with two sales, six new contracts, four new listings and six price changes. Our inventory inches back up again coming in at 377, with 91 homes and 286 lots listed for sale in the Cape San Blas, Indian Pass and C-30 Corridor market.  The number of homes available is shrinking but the number of lots is growing at a pace that concerns me. We have a lot of territory to cover today so let’s get right to it.

Both of our sales are single family homes on the Cape, beginning with this road-front, gulf-view, 4-bedroom, 4-bath 2,120 square foot home built in 2002. It went under contract with a list price of $349,000, $46K below the $395,000 it sold for in early 2002, and this week it sold for an even $300,000. The county has it valued at $271,352.

Our second sale is in Boardwalk on the south side of the Cape, a 4-bedroom, 3 1/2 bath, 2,054 gulf view home listed for $329,900. The sellers have owned this property since 1994 when they bought the lot for $27,700, and built the home in 1995. They sold it this week for $250,000, almost exactly its assessed value of $251,240.

Now to our six new contracts the first two of which are townhouses up in Barrier Dunes, beginning with this 2-bedroom, 2 1/2 -bath, 1,172 square foot unit built in 2003 and sold in May of that year for $144,500.  That seller has had it listed since January last year when he listed it for $174,900, close to its current assessed value of $162,131.  There are no contingencies to be met with this contract so it should close pretty quickly.

Just around the corner the second unit is a 3-bedroom, 3-bath, 1,172 square foot listed as a short sale for $177,812,  the sellers having paid $370,000 for it in August 2004, even though it had sold just two months prior to that in June for $207,000.  The owners first put it on the market the following summer in July 2005 with a list price of $485,000. It has been under contract four times before but never made it to closing. 

Our next contract takes us down to the southern end of the Cape San Blas Peninsula to just before the rocks at Stumphole, to this 4-bedroom, 4 1/2-bath, spacious 3,618 square foot gulf front home which went under contact on Monday with a list price of $699,000. Built in 2002, the sellers bought it the following year for $888,000 and have been marketing it since late 2006 when they initially listed it for $1.399M. The county currently has it assessed for $428,515.

   Next up is another 4-bedroom home, this one on the south side of the Cape in Jubiliation. It’s a 2,574 square foot Florida cracker-style home built in 2006 which went under contract Wednesday as a short sale with a list price of $449,000, the sellers having paid $750,300 for it in late 2008.  The county has it valued at $306,964.

Also on the south side of the Cape in The Club at Cape San Blas our fifth contract  is on another townhouse, this one a bank-owned 3-bedroom, 2 1/2 bath, 1,620 square foot unit listed for $210,900. These are nice homes built in 2005 but the carrying costs will get your attention. With annual taxes of $3,106 and monthly HOA fees of $550, you’re looking at over $800 a month even before you factor in insurance and a mortgage payment.   It last sold in April 2005 for $469,900, and is currently assessed by the county at $240,876.

We finally leave the Cape and head north on C-30 to the first subdivision on the left, Marnie’s Island, for our sixth and final new contract. It’s an irregularly shaped 0.6 acre bank-owned bay front lot listed for $69,000, below its current assessed value of $85,000. Originally sold in December 2004 for $315,000, it sold again in February 2007 for $310,000.  There are no contingencies to be met so we should know pretty quickly what it sells for.

That does it for this week. Our inventory of homes is whittling down so if you’re interested in finding one you may want to start your search sooner than later. I’ll be glad to help you; just text or call me at 850-227-5197 or send me an email to sherri@sherridodsworth.com .  I enjoy hearing from so many of my readers and helping them find their perfect place in paradise here along the Forgotten Coast.  Have a terrific week and thanks so much for taking time to stop by today.

If our first full week of the new year is any indication of things to come, 2012 is going to be a very good year as we closed four sales, wrote up four new contracts, listed eleven properties and repriced nine others.

The first of our four sales  is an out-of-the-ordinary listing, a lot in Sea Cliffs measuring just 18′ by 60′, the footprint of a townhouse.  It’s a bank-owned property that was listed for $54,000, well above the county’s assessment of $45,000, which turns out to be exactly what it sold for on Friday.  I looked at its location on the plat map and it appears to be for an end unit so it will be interesting to see if the new owner decides to build soon or waits for others to buy up the adjoing lots before getting underway.

Our second sale is just next door in Barrier Dunes, where this 2-bedroom, 2 1/2 bath, 1197 square foot gulf glimpse townhouse listed as a short sale for $179,000 sold on Friday for $145,000. For those of you who have looked at Barrier Dunes homes and are trying to figure out which one this is, it’s the one on Sabal Drive with the blue living room and kitchen. If you have seen it, you’ll know immediately which one I’m referring to. The home was built in 1996, and last sold in June of 2005 for $350,000, a little less than twice the county’s current assessed value of $189,857.

  The third sale is on the south side of the Cape in the Boardwalk subdivision, a 77′  by 103′ gulf view lot listed for $69,900. The sellers purchased it in early 2003 for $125,000, more than twice the $66,500 it sold for just two years prior, and have had it on the market since March 2005 when they listed it for $449,000.  The county has it assessed well above list at $85,000. On Thursday it sold for $60,000 cash. The MLS notes this was an in-house sale for a family member who paid a 1% commission at closing.

Finally our fourth sale was a 3-bedroom, 2 1/2 bath, 1,712 square foot first tier home in Gulf Pines listed for $324,900. This wasn’t a short sale even though the sellers paid $349,000 for it in early 2003. The county has it assessed for $214,317, nowhere near the $310,000 it sold for on Friday.

We’ll head back up to the north end of the Cape to begin reviewing our four new contracts, once again in Barrier Dunes with a 2-bedroom, 2 1/2-bath, 1,216 square foot gulf-glimpse townhouse. Last sold in late 2005 for $339,200, it is currently listed for $132,000, below the county’s assessed value of $165,900. Interesting to note this unit previously sold in February 2000 for $119,000, which, when adjusted for inflation equals roughly $149,000 in today’s dollars, so today’s list is actually below that sale price 12 years ago. Talk about your lost decade . . . .

About a quarter mile south of Barrier Dunes our second contract is on an interior lot on the bay side of the road on Blue Heron drive which is the road running next to Conehads Restaurant. This inviting 3-bedroom, 2-bath, 1,872 square foot home built in 2005 is situated on a half-acre lot which shares a boundary with the state park, for a peaceful, private setting. The sellers bought the lot in late 2003 for $82,500, then built the home which they first listed for sale in March 2009 for $389,000.  It went under contract on Thursday with a list price of $279,000, a good bit above the county’s assessed value of $210,208.

Our third contract is on this bank-owned 3-bedroom, 3 1/2 bath, 3,271 square foot handsome gulf front home in Gulf Pines over along the C-30 Corridor. The list price is $799,900 and the current asessed value is $651,881. It has only had one owner (other than the bank) and that owner built it in 2002. This is in a FEMA eligible area.

  Our fourth contract is on this attractive Key West style home in Money Bayou which is listed as a short sale with an asking price of $189,000.  The sellers bought it new in November 2003 for $295,000, and it is currently assessed for $148,545.

That does it for this week. Lots going on and our inventory of homes has really shrunk, so if you’ve been thinking of buying a house at the beach you may want to add that to your list of New Year resolutions for 2012.  I can help with your search – call or text me at 850-227-5197 or send me an email to sherri@sherridodsworth.com . Have a great week, keep warm, and thanks so much for taking time to stop by today.

I hope you had a wonderful holiday season as we did here, mostly sunny and mild with clear blue skies. I must admit I’m glad to be back into the normal routine, though. We started off the new year at a good pace, managing two closings, four new contracts, six new listings and three price changes. Real nice dip in our inventory for a change, closing down by a dozen at 375, with 92 homes and 283 lots for sale in the Cape San Blas, Indian Pass and C-30 Corridor market. Let’s take a look at what caught buyers’ attention.

We’ll head to the north end of the Cape to begin reviewing our two sales, beginning as we frequently do in Barrier Dunes with a 3-bedroom, 3 1/2-bath, 1,845 square foot interior townhouse. The sellers bought it in May 2004 for $460,000 and started trying to sell it three years later when they listed it for $617,500.  By the time it went under contract in mid-November that list price had been whittled all the way down to $369,000, and on Friday the new owners picked up the keys at closing with a check for $305,000. The county has it assessed at $254,723, which is pretty close to what it sold previously for in March 2000,  $264,500.

Our second sale is over at Indian Summer on Indian Pass, and it’s a 66′ wide gulf front lot, one of only two such lots in this subdivision eligible for FEMA flood insurance as the CBRA line runs right through the project.  This is such a beautiful, peaceful setting.  The sellers bought it in January of 2001 for $270,000 and sold it this week as a short sale for their full list price of $190,000. Sobering to note that price is closer to the $156,000 previous owners paid for the lot back in early 1999, and also below the county’s assessment of $205,000.

The first of our four new contracts is a bank-owned gulf front bona fide fixer upper located on the Cape in the vicinity of Scallop Cove.  One family had owned this 4-bedroom, 4- bath, 2,400 square foot beach house for about twenty years but sadly lost it to the bank this past fall. She has definitely seen better days; the decks and rails are rotting, the roof needs a lot of work, etc. and the bank has it priced at an “As Is” price of just $289,298, which means they’re putting most of the value in the 50′ waterfront lot. The county’s more generous than that, having it valued at $349,298.

Two of our contracts are located in Boardwalk on the south side of the Cape, the first being this 4-bedroom, 3 1/2 bath, 2054 gulf view home listed for $329,900. The sellers have owned the property since 1994 when they bought the lot for $27,700, and they built the home in 1995. The county has it assessed for $251,240. There are no contingencies to be met so it should close fairly quickly.

  The second Boardwalk contract is on a gulf view 77′ by 103′ gulf view lot listed for $69,900. The sellers purchased it in early 2003 for $125,000, more than twice the $66,500 it sold for just two years prior, and have had it on the market since March 2005 when they listed it for $449,000.  Today the county has it assessed well above list at $85,000.

And finally our fourth contract is out along C-30 on Money Bayou where this 2-bedroom, 2-1/2-bath, 1,140 square foot gulf front townhouse at Cape Villas went under contract as a short sale with a list price of $189,000.  In mid-1998 it sold for $120,000, and those owners basically doubled their money in just four years, selling it in early 2002 for $230,014 to the current owners.  They’ve had it on the market since the summer of ’05 when they initially listed it for $475,000. The county has it valued at $153,609 which is probably pretty close to what I imagine it will likely go for.

That does it for our first review of 2012.  Looking forward to a great year, and hope you’ll visit here to keep up with the market as the weeks roll along. If you’re interested in either buying or selling, I’d love to hear from you. Call or text me at 850-227-5197 or shoot me an email to sherri@sherridodsworth.com . Have a terrific week, and thanks so much for stopping by today.

What a glorious send off we’re giving 2011 here on the Cape today; the skies are sunny and cystal clear, the temp’s been hovering around 73 all day, and we’re only looking at a low in the mid-50′s tonight – pretty sweet weather for ringing out the old and welcoming the new year. Our real estate market also ended the year in style, ringing up six sales, one new contract, three  new listings and six price changes.  Even with all that our inventoy remains basically stalled, closing down only one from last week at 387, with 96 homes and 291 lots for sale in the Cape San Blas, Indian Pass and C-30 Corridor market.

The first of our six sales is up on the northern end of the Cape in Barrier Dunes, where this 2-bedroom, 2-bath, 1,172 square foot townhouse located back by the Park with a list price of $129,000 sold for $125,000. That’s well below the county’s current assessed value of $152,131, and the $180,000 the seller paid for it brand new in 2003.

  We’ll head about 2 miles south for our second sale, a third-acre,  first tier gulf view lot on Westwind Drive in Paradise Gulf, a subdivision platted in the early 90′s. This property first sold in 1995 for $29,000, then resold five years later in 2000 for more than triple that, $95,000. In 2005 they listed it for $750,000 and after numerous price reductions over the years, it finally went under contract with a list price of $109,000, and on Tuesday they let it go for $85,000, well below the assessed value of $120,000.

We’ll head to the south side of the Cape for our next  sale, stopping first by this 0.2 acre “X” zone lot located in Jubilation. The seller unknowingly nailed the peak of the market when he bought this lot in September 2004 for $280,000.  Looking back at the sales data, that was the month the inventory began to stall and start its upward trend.  Even with his list price of $79,900 it wasn’t listed as a short sale, and on Tuesday it closed for $50,000, also below its $70,000 assessed value.

Our next two sales are over near Salinas Park in Two Palms beginning with a bank-owned 4-bedroom, 4-bath, 2860 square foot first tier home which last sold in January 2004 for $518,000.  This week it sold for full list price of $375,000, above the county’s assessed value of $310,916.

 Our fifth sale is on one of my former Price Change Picks of the Week. It is a 3-bedroom, 3-bath, 1,618 square foot gulf view “X” zone home  in Two Palms  on which sellers slashed the price just recently from $399,000 to $299,000, which is what it sold for this week.  That’s still well above the county’s assessment of $234,819, but far less than half of the $740,000 it sold for in April 2005.

It has pretty gulf views from the spacious decks and porches, and even has a screened in-ground pool.

Let’s jump in the car and cruise on out along the C-30 Corridor eastward for about three miles until we reach the Cottages at Indian Summer, a subdivision on the south side of the road where our sixth and final sale was on a third-acre, second tier lot listed as a short sale for $46,900.  The sellers bought it in mid-2005 for $390,000, and this week their lender signed off on agreeing to a sale price of $30,000, less than half the county’s assessed value of $73,600, but well above recent comps for similarly situated lots in this subdivision.

 We’ll circle back over to the Cape for our solo new contract which is on a gulf view lot in Boardwalk. The sales history on this lot is interesting as it sold in April 2001 for $66,500, then again to our current seller two years later in April 2003 for $125,000.  It went under contract this week with a list price of $69,900, once again below the county’s assessed value of $85,000.

With that, we’ll bring the year to a close. I wish you and your loved ones good health and happiness in the New Year, and I want to thank all of you I’ve worked with, met with and talked with this past year who have helped to make 2011  such a memorable one for me.  Have a safe holiday and thanks so much for taking time during this busy season to stop by. See ya next year!

Santa visited the Forgotten Coast while making his rounds this week and brought three lucky people a place to call their own at the beach. Three bargain hunters wrote up contracts, five owners listed their properties while ten others opted for price mark-downs.  Our inventory remains unchanged, closing where it did last week at 388, with 97 homes and 291 lots listed for sale in the Cape San Blas, Indian Pass and C-30 Corridor market.

The first of our three sales is on a second tier lot with gulf and bay views located in the Ocean Haven subdivision on Cape San Blas. The sellers paid $235,000 for it in November 2003, and had it listed as a short sale for $59,900.  On Wednesday it sold for $47,200, well below the county’s assessed value of $72,000.

Our second sale was a bank-owned gulf front lot on Louisiana Lane on the south side of the Cape which priced at $149,999.  This one was listed in the Bay County MLS and sold by a member of our MLS.  The 50′ wide half-acre lot last sold in August 2007 for $650,000, and this week it sold for $140,500, just 21 cents on the dollar.

Our third and final sale was also a gulf front lot, this one located over on Indian Pass at Indian Summer. It measures 68′ by 217′, or roughly one-third of an acre, and was listed as a short sale for $230,000. There was so much interest in this lot not only because it’s a gorgeous piece of property, but also because it’s one of only two gulf front lots in this popular neighborhood eligible for FEMA flood insurance, as the CBRA designation runs right through Indian Summer.  One very lucky buyer picked up the title to it on Wednesday in exchange for a check for $190,000, just a smidgen below the county’s assessed value of $205,000.

The first of our three new contracts  is on an out-of-the-ordinary listing, a lot in Sea Cliffs measuring just 18′ by 60′, the footprint of a townhouse.  It’s a bank-owned property listed for $54,000, well above the county’s assessment of $45,000. I looked at it’s location on the plat map and it appears to be for an end unit so it will be interesting to see if the new owner decides to build soon or waits for others to buy up the adjoing lots before getting underway.

Our second contract is on a pre-construction package for the house in the diagram on a lot near the rocks at Stumphole.  The plans are for a 4-bedroom, 2 1/2 bath 1900 square foot home on a 44′ by 316′ lot.  List price for the package is $405,000.

Our third and final new contract is on a 3-bedroom, 2 1/2 bath, 1,712 square foot first tier home in Gulf Pines listed for $324,900. It’s not listed as a short sale even though the sellers paid $349,000 for it in early 2003.

That does it for this week. I wish you all a very Merry Christmas and Happy Hannukah. Remember to take stock of and treasure the abundant blessings in our lives even during challenging times such as these.  My wish for you is the gift of peace that keeping life in perspective brings.

As usually happens this time of year, things are quieting down around here and we had a relatively slow week, with just one sale and two new contracts, four new listings, and two price changes.  Our inventory inched up by six, closing the week at 388, with 99 homes and 289 lots listed for sale in the Cape San Blas, Indian Pass and C-30 Corridor market.

Down on the south side of the Cape our solo sale is a  bay front lot in Eventide, which sold as a bank-owned lot just two months ago in mid-October for $12,000.   The bank had it listed then for $20,000.  That buyer flipped it back on to the market with a $39,900 price tage and sold it Tuesday for $30,000 cash. The county’s going to have a lot of adjusting to do with this sale as they still have it valued at $40,000.

 The first of our two new contracts is on a bank-owned first tier 4-bedroom, 3-bath, 1,830 square foot home at Indian Pass. This home was builit in 2003 and last sold in January 2006 for $1M. It has been on the market since October of that year when it was originally listed for $949,000. Suntrust took it back this summer and listed it for $349,900, a good bit above the county’s assessed value of $277,454.

   Our second new contract is on this gorgeous 60′ wide gulf front lot on Sweetwater Drive at Money Bayou which went under contract on Tuesday with a list price of $299,000, well above the county’s assessed value of $175,000. A similar lot near this one sold last year for $200,000.   The sellers have owned it since mid-1999 when they purchased it for $120,000, and first put it on the market in January 2008 with a $565,000 price tag.

With just four new listings and two price changes I’m not going with Picks of the Week this week,  so we’ll wait to see if Santa beings us a couple of goodies next week. Only eight more shopping days ’til Christmas, so if you have coastal paradise properties on your shopping list be sure to get in touch with me this week. Call or text me at 850-227-5197, or send me an email to sherri@sherridodsworth.com. In all the hustle and bustle this week, with last minute shopping, decorating and wrapping gifts, be sure to take time to take note of the gifts you already have, your family, pets, and friends, and give them the gift of letting them know just how much they mean to you.  Have fun, keep warm, and thanks so much for stopping by today.

Even with the cooler wintery weather settling in (daily highs in the 50s and 60s) and folks concentrating on Christmas shopping, we had a pretty good week in our real estate market for December, managing two sales, three new contracts, three new listings and put on four new price tags. Our inventory slimmed down by four, closing the week at 382, with 98 homes and 284 lots listed for sale in the Cape San Blas, Indian Pass and C-30 Corridor market.

I’m going to brag on our small company just a bit as I’m proud of the fact that both of this week’s sales were in-house sales for Boardwalk Realty, the first of which is a beautiful 4-bedroom, 4-bath, 3,042 square foot gulf front home in Indian Summer at Indian Pass listed as a short sale for $790,000.  We listed it in mid-March, put it under contract on September 19, and closed it on Friday for $675,000. Phenomonally fast closing for such a high end property. My colleagues and the negotiating team we had working with us did a super job.  Our second sale is a quarter-acre second tier lot nestled among the pines and palms at the Cottages at Indian Summer near Indian Pass along the C-30 Corridor. It went under contract with a list price of $27,500. The owners have had it since late 2003 when they picked it up for $50,000. They initially listed it in early 2008 for $229,000.  The county’s assessment is way above list at $73,600, but they describe it as a first tier rather than a second tier, so that error may be  the discrepency. On Tuesday the happy new owners claimed the lot for their future home on the coast for the list price of $27,500.

All three of our new contracts are on single family homes on the Cape, beginning with this road-front, gulf view 4-bedroom, 4-bath 2,120 square foot home built is 2002. It goes under contract with a list price of $349,000, $46K below the $395,000 it sold for in early 2002. The county has it valued at $271,352.

Just a few blocks south our second contract is on a handsome 4-bedroom, 4-bath, 2,726 square foot gulf front home built in 2008 which goes under contract with a list price of $798,000.   It’s not listed as a short sale even though the lot alone sold for $749,900 in mid-2005. The county has this one pegged at $524,950.

 Our third and final new contract is on one of my former Price Change Picks of the Week. It is a 3-bedroom, 3-bath, 1,618 square foot gulf view “X” zone home on the south side of the Cape  in Two Palms  on which sellers slashed the price just recently from $399,000 to $299,000. 

It has pretty gulf views from the spacious decks and porches, and even has a screened in-ground pool.

Here are the MLS details:

Spacious and airy 3 bedroom 3 bath fully furnished home located in the X flood zone. The home was designed with an open floor plan to take advantage of the beautiful Gulf views. The living areas open onto the covered porches creating a large entertaining space. The upgraded kitchen features ceramic tile countertops and floors, with stainless steel appliances. Enjoy breathtaking sunsets from the porches on both upper levels that span the entire length of the home. As an added bonus, the home also includes its own swimming pool, covered by screened enclosure! The natural setting of Two Palms creates a feeling of seclusion and privacy. This home is currently on a rental program. Rental income for 2008 was $40,000, and for 2009, $49,500. Owner is willing to sell Half Interest in property.

All three of our new listings and four price changes are worth taking a look at, so I’m not singling out just one for a Pick of the Week, which means that wraps it up for another week. Prices are looking better and better all the time, so much so that I’m starting to hear from people who say they’re ready to make an offer on a particular property only to find out it’s already gone under contract, so if you’ve had your eye on a particular house or lot, you may want to step up to the plate before someone else beats you to it.  Let me know what you’re interested in and I’ll be glad to help you get it. Call or text me at 850-227-5197 or shoot me an email to sherri@sherridodsworth.com. Have a great week, enjoy all those Christmas parties, and keep warm. Hope to see you back here next weekend, and thanks so much for stopping by today.

I hope you had a terrrific Thanksgiving with family and friends. It was a gorgeous day here on the Cape, warm and clear. Lots of people here for the holiday, with this traditionally being when our many absentee owners who rent their homes block this week out for them and their families to use. Seems as if everybody had turkey, football and fishing on their minds rather than real estate as there was very little activity, with no sales though we did manage to serve up two new contracts, four price changes, and one new listing. Accordingly, virtually no change in our inventory, moving down by only one to 387, ending the week with107 homes and 280 lots listed for sale in the Cape San Blas, Indian Summer, and the C-30 Corridor market.

  Both of our two new contracts are on lots, the first being this one-third acre first tier  lot on the Cape listed for $109,000. The sellers bought this “X” zone lot in May 2000 for $96,000, and have been trying to sell it since August 2005 when they initally listed it for $750,000. The county has it pegged at $120,000. There are no contingencies to be met so it should close relatively quickly.

  Our second new contract is on this quarter-acre second tier lot nestled among the pines and palms at the Cottages at Indian Summer near Indian Pass along the C-30 Corridor. It goes under contract with a list price of $27,500. The owners have had it since late 2003 when they pcked it up for $50,000. Theystarted tyring to sell it in early 2008 when they listed it for $229,000.  The county’s assessment is way above list at $73,600, but they describe it as a first tier rather than a second tier, so that error may be causing the discrepency.

Can’t really have a “New Listing Pick of the Week” when there’s only one new listing, but from our four price changes I do have a Price Change Pick of the Week. I’m going with this 1.25 acre gulf front lot in Jubilation on the south side of the Cape which was reduced in price from $265,000 to $225,000 as a short sale; that’s well below the county’s assessed value of $315,000. The sellers paid $900,000 for it in late 2004.

That does it for this week. Since this weekend offically kicks off the Christmas shopping season, if you’re considering a place at the beach for that special someone on your list, by all means let me know and I’ll gladly play the part of Santa’s helper to help you find it. You can call me on my cell at 850-227-5197 or text me or send me an email to sherri@sherridodsworth.  Have a great week, and thanks so much for stopping by today.