Archive for the 'Insurance' Category

Feb 11 2012

Cape San Blas Real Estate Week in Review – Feb. 4-10, 2012

For Sale and Sold SignOld Man Winter finally remembered where the Cape is and rolled in this week with his calling card cold weather. Try as he might, though, he couldn’t cool off our red hot real estate market as we managed one more sale and four new contracts, seven new listings and a dozen price changes. Our inventory remains stubbornly sluggish, removing only two from its numbers, with 91 houses and 286 lots listed in the MLS in the Cape San Blas, Indian Pass and C-30 Corridor market.

Cape San Blas Home Under Contract Jan. 12, 2012 with List Price of $279,000

Our one sale is on an interior house on the bay side of the road on Blue Heron drive which is the road running next to Coneheads 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 in mid-January with a list price of $279,000, a good bit above the county’s assessed value of $210,208, and on Friday it sold for $273,000, very close to that list price.

Cape San Blas Cottage Under Contract  with List Price of $119,900

The first of our four new contracts is on a unique listing: two mobile homes located on a single third-acre lot. They’re on Jamaica Lane, the road next to The Tradin’ Post. It’s listed for $119,900, and valued by the county at $94,796, and last sold in April 2003 for $134,100. One thing impacting the value of this property is that it may be deemed a non-conforming parcel due to the two homes on one parcel.

Gulf Front Home at Cape San Blas Under Contract Nov. 17, 2010

Looks as if folks are shopping waterfront, as three of our four new contracts are on gulf front properties, beginning with this gulf front home on Rachel Beach Lane on the Cape. It’s a 3-bedroom, 3-bath, 1,395 square foot home built in 2000 with a sales history illustrative of the local housing boom. In October 2003 it sold for $660,000, and exactly one year later in October 2004 resold for $1.1M. Those buyers put it back on the market just eighteen months later for $1.549M but by then the market had ground to a halt and they have been trying to sell it ever since. It goes under contract this week as a short sale with a list price of $399,900, a bit above the county’s assessed value of $360,337.

Bank-Owned Cape San Blas Gulf Front Fixer Upper Under Contract Jan. 6, 2011 with List Price of $289,900

Next up 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.

Cape San Blas Gulf Front Lot at Jubilation Under Contract as Short Sale with List Price of $225,000

Our fourth and final new contract is on the south side of the Cape in Jubilation and it’s on a 1.27 acre gulf front lot measuring a generous 50′ by 1,068′. This is another short sale with its list price of $225,000 having last sold in October 2004 for $900,000. The owners started trying to sell it in August 2010 when they listed it for $449,900. The county currently has it valued at $315,000.

That does it for this week. We may have an abundance of lots still in the inventory, but the number of homes from which to choose is steadily shrinking, so if you’ve been thinking of buying a home at the beach now is a good time to start your search. I’ll be glad to help you with that, so call or text me at 850-227-5197, or shoot me an email to sherri@sherridodsworth.com . I hope you have a wonderful week and thank you so much for taking time out of your busy schedule to stop by today.

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Sep 12 2009

Cape San Blas Week in Review – Sept. 5-11, 2009

For Sale and Sold Summer may be officially over but luckily our buyers apparently didn’t get that memo as they were still here snapping up great real estate deals. It’s been another good week, with three closings and three new contracts. Only four new listings and eight new price tags. Unfortunately, though, our inventory’s inching back up, adding nine more than last week, ending at 402, with 146 houses and 256 lots listed for sale in the MLS for the Cape San Blas, Indian Pass and C-30 Corridor market.

Gulf Front Lot at Cape San Blas Sold on September 11, 2009 for $400,000 It is a healthy indicator for our market when all three of our sales are lots. They’re all on the Cape, and the first is a gulf front property in Dolphin Beach to Bay subdivision, located about three miles south of the state park. This is 54′ on the gulf, a little over half an acre, and last sold in early 2002 for $390,000. The sellers listed it in January for $549,000, had it down to $439,000 by the time it went under contract, and picked up a check at closing this week for $400,000.

Cape San Blas Gulf View Lot Sold on September 11, 2009 for $139,000

Our second sale is just a few blocks away on Sea Horse Lane not far from The Tradin’ Post. It’s a really nice gulf view lot, good elevation and with awesome views of the beach. It was listed just a few weeks ago for $139,000 and that’s what it closed for on Friday. The sellers had owned it for quite some time so there’s no pertinent sales data on file, just the assessed value of $180,000. Again, price it right and it will sell.

Cape San Blas Lot Sold on September 11, 2009 for $37,500 Our final sale was an interior lot in San Blas Plantation on the south side of the Cape. This roughly quarter acre lot last sold in December 2004 for $240,000 and was put back on the market in early 2006 for $349,000 but never had any takers, and was eventually foreclosed on by the bank. They listed it for $89,900 this past January, have been whittling the price down since then, finally reaching $44,000 in early August, and it closed this week for $37,500. Talk about a comp killer – even the county had it assessed for $124,000. Ouch.

Cape San Blas Gulf Front Home Under Contract September 9, 2009

Our three new contracts include one house and two lots. Let’s start with the house, which is a bank-owned single family fixer upper gulf front home just north of Stumphole. This listing showed up on the MLS late Wednesday for the give-away price of $225,000 and was under contract with no contingencies by Thursday morning with a projected closing date of September 25. This one’s going to be yet another comp killer at this price. It last sold in 2005 for $1.5M so the bank is taking a huge soaking here. Kudos to Kes, though, as the county already had it assessed at $247,630. Real curious to see what it actually closes for.

Indian Pass Gulf Front Lot Under Contract September 8, 2009

Our first lot is also a gulf front, this one over at Indian Pass. It’s not a short sale or foreclosure but you’d think so with a list price of only $269,000 for 61′ on the gulf. It has been in the family for some time so no pertinent sales data is available; I guess they just really want to sell. Since it’s part of a larger parcel the county doesn’t have an assessed value on just this piece.

Cape San Blas Interior Lot Under Contract on September 11, 2009

Our third and final new contract is on an interior lot up in Sunset Pointe at Cape San Blas, adjacent to the state park with a list price of $89,000. This property last sold at the height of the market in mid 2004 for $195,000. They tried to flip it a year later putting it back on the market for $435,000 but by then buyers had disappeared. According to the MLS this is not a short sale requiring lender approval; the sellers are taking the sacrifice here. They have it priced very close to the county’s assessed value of $78,500.

My pick of the week I had lined up from this week’s four new listings has already gone under contract, the gulf front house mentioned above listed for $225,000. I do have a winner, though, among our eight price changes.

Cape San Blas Cottage Now Only $229,000

This comfy cottage at Cape Dunes on the south side of the Cape is priced to sell quickly, with the sellers dropping the price this week from $279,000 to $229,000, real close to the county’s assessed value of $191,286. This is a good deal for a great weekend get away or vacation rental. Here’s of snapshot the beach at Cape Dunes which is only a short stroll out the front door:

The Beach at Cape Dunes on Cape San Blas

This 3-bedroom, 1,259 square foot home built in 2001 has a custom interior by Tiffins Interiors and is being sold completely furnished. It has a large deck overlooking the bay, and an open deck off the living area for sunning. Plenty of parking for several cars and boats, plus a large storage room/workshop space, too.

That does it for this week. I’m working this weekend so if you’d like more info on these or other properties pick up the phone and give me a call: 850-227-7891, or send me an email to Sherri@SherriDodsworth.com . I also got a stack of brand new For Sale signs in this week so if you’re interested in selling, I’m ready. Just let me know. I’d love to be your listing agent.

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Aug 01 2009

Cape San Blas Real Estate Market Week in Review – Week of July 25-31, 2009

For Sale and SoldAfter a string of weeks with better-than-average activity, things finally came to a halt this week and we had the slowest week in real estate we’ve seen in some time. No closings, only one new contract, a measly two new listings, but an impressive fifteen price changes. Our inventory took a nice dip, down seven from last week falling below 400 again to 398, but I suspect that’s a result of listings expiring on the last day of the month, many of which will likely renew sending us back up over 400+ by next week. But as of today our MLS has 155 homes and 243 lots listed for sale between Cape San Blas, Indian Pass and the C-30 Corridor. With only nine sales in the month of July, thats over a 3 1/2 year inventory we’re looking at. Definitely better than it’s been but still not good.

Gulf Front Home at Secluded Dunes Under Contract July 29, 2009

Our one new contract is on a 3-bedroom, 3 1/2 bath, 2700 square foot gulf front home at Secluded Dunes. This home was foreclosed on some time ago and has been on the market since November 2006 when it was originally listed for $1.048M. In mid-June the list price finally reached $699,000 and that was the price point that attracted an offer. There are contingencies to be met so no known projected closing date.

Neither of our two new listings merit the honor of New Listing Pick of the Week so we’ll look for the “wow” factor among our fifteen price changes where I’m going to go with a bay front commercial lot reduced to an attractive $250,000.

Cape San Blas Bay Front Commercial Lot Now Only $250,000

This is right near the turn off onto Cape San Blas Road and measures 100′ wide by roughly 300′ deep, for a total of about 0.69 acres. It has a dock permit good through 2010, electricity on site, and a shallow well for irrigation. The views from the property are awesome, and it is studded with beautiful Florida palm trees, so this would be a postcard setting for a small roadside cafe or open-air eatery or watering hole of some sort. This aerial shows it’s a good dry lot:

Aerial View of Commercial Bay Front Lot at Cape San Blas

Time to go show property so I’m out of here for now. Working hard to generate contracts so we’ll have more to talk about next Saturday. Let me know if you’re interested in buying or selling – my cell phone is 850-227-5197 or shoot me an email to Sherri@SherriDodsworth.com. And if you’re in the area, stop by and say ‘hello’. My Boardwalk Realty office is at 1252 Cape San Blas Road, about a mile from the turn off onto the Cape. Have a great weekend, and thanks for stopping by today.

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Jun 06 2009

Cape San Blas Real Estate Week In Review – May 30 – June 5, 2009

For Sale and SoldWow! What a week. The buyers are definitely back and while they may be making low offers, at least they’re offering something, and a lot of them are turning into contracts. We had our best week yet in the nearly two years I’ve been writing this blog, with four closings and four new contracts. The inventory is still holding steady, though, with a total of 411 active MLS listings in the Cape San Blas, Indian Pass and C-30 Corridor market, down only one from last week, with 166 homes and 245 lots. In other activity, there were four new listings added, fourteen price changes, and thirteen expired unsold.

Our four closings consisted of two houses and a lot on the Cape and a lot in Treasure Shores out along the C-30 Corridor. Let’s do as we did last week and start at the northernmost house on the Cape and work our way southward.

House in Peninsula Estates on Cape San Blas Sold May 31, 2009 for $245,000 First stop: Sandlewood Blvd. in Peninsula Estates, about half a mile south of the state park entrance where this handsome little house sold for $245,000 cash. It last sold in July 2004 for $375,000 and has been on the market for over three years, since being listed in February 2006 for $625,000. The list price finally dipped below $300K to $299K this February and that was enough to get them an offer they could take to closing. The MLS identified this as a short sale requiring lender approval, so in this case they accepted 82% of list.

House in on Summerhouse Lane at Cape San BlasSold on May 22, 2009 for $435,000 Our second sale is also identified as a short sale, and this is a 51′ wide gulf front lot listed for $499,500 and selling for $435,000, or 87% of list. That’s over $8500 per waterfront foot so that’s good to see gulf front values on the Cape at least seeming to be hovering pretty steady in the $8000-$8500 range. According to the MLS this was sold using conventional financing which is wonderful to see since getting lenders to work with land right now is incredibly challenging.

Gulf View Home in Seagrass at Cape San Blas Sold June 1, 2009 for $555,000

Our second sold home of the week is this 3,200 square foot, 4-bedroom gulf-view beauty in Seagrass subdivision. Listed for $629,000, it sold on Friday for $555,000 with conventional financing. It’s a lovely home with a private pool, handscraped dark maple hardwood floors, granite countertops in flip flop kitchen, corian countertops in bathrooms, bonus room, loft plan, the works. X-Flood Zone. Has a great rental history and income. The lot alone sold in February 2005 for $461,428.

Gulf Front Lot In Treasure Shores Sold for $590,000 on June 4, 2009

On to Treasure Shores where this 75′ wide gulf-front lot showed up in the MLS under contract at its “list price” of $590,000 and changed to closed status the following day noting seller financing at $590,000, so I think this may have been an in-house sale being put in the MLS for comp purposes. Not a bad comp, either, coming in at $7,866 per waterfront foot. This lot was one of our four new contracts I noted in the beginning, so let’s go and take a look at the other three.

With the exception of that Treasure Shores lot contract, buyers were in the mood for townhouses this week, writing contracts on two in Barrier Dunes and one in Cape Shoals.

2-Bedroom Barrier Dunes Townhouse Under Contract June 1, 2009

First up is this 1,377 square foot, 2-bedroom, 2 1/2-bath interior townhouse at Barrier Dunes listed at only $218,000, well below the county’s assessed value of $221,429. The sellers bought it in December 2002 for $187,900 so they should be ok. This home is being sold furnished, and has a good rental history, with an annual gross rental income of $18,000 reported.

5-Bedroom BArrier Dunes Townhouse Under Contract June 3, 2009

Our second townhouse contract is on a unique Barrier Dunes unt in that it is the only 5-bedroom configuration in the complex, with a whopping 2,600 square feet under heat and air. This home is being sold unfurnished and, according to the MLS, it is a short sale. Currently listed at $299,900, which is well below the county’s assessed value of $334,895 and, sadly, even further below the $382,500 the sellers paid for it in October 2007.

Gulf Front Cape Shoals Townhouse at Cape San Blas Under Contract June 1, 2009

Our third and final townhouse contract takes us about three miles south down the beach to Cape Shoals where this 1,400 square foot, 2-bedroom, 2 1/2-bath gulf front townhouse went under contract with a final list price of $229,000, just a smidgen above the county’s assessed value of $220,802, but way off the mark from the $342,000 for which it last sold in October 2005.

Great 3-BEdroom Barrier Dunes Townhome with Terrific Gulf View Only $320,000

I’m excited about ths week’s pick of the week from our four new listings. Check out the view from this 3-bedroom, 3 1/2 bath, 1,845 square foot Barrier Dunes townhouse! I could get used to that. And the list price is just as attractive: $320,000. Here are the juicy details from the MLS:

“X” Flood Zone, 3 BR/3.5 townhome with gulfviews from all levels! Foyer and living area are tiled with rattan decor, dining table has seating for six. Fully stocked kitchen and half bath are also located on this level. The main living area deck overlooks a boardwalk that leads to the gulf and has great gulfviews. The second level has two bedrooms, linen closet and laundry area. Bedroom with gulfview has queen bed, full bath and rattan decor. Second bedroom has twin beds, balcony with gulfviews and full bath. Master suite has king bed, double vanity, garden tub, and seperate shower. Master bedroom deck has spectacular gulfviews. Barrier Dunes is a gated community with two swimming pools, lighted tennis courts, playground, and stocked fishing ponds. Great rental potential!

No problem selecting a pick of the week from this week’s crop of fourteen price changes, either. I love this little 3-bedroom, 2-bath beach cottage at Cape Dunes on the south side of the Cape which goes from $325,000 to $275,000. This is a terrific home just an easy stroll to the beach.

Cape Dunes Beach Cottage Now Only $275,000

Deeded beach access is so nearby you can hear the surf from your front deck. Completely furnished with a custom interior by Tiffins; turn-key ready – all you need to bring is your beach bag. Flood insurance isn’t required by lenders as home is in desirable “X” zone. Only minutes from 3 boat launches, state park, and Troy Deal wildlife reserve for kayaking and bay access. Dining, shopping & golf in Port St. Joe & Apalachicola are only a short drive.

We covered a lot of real estate here today – time to step away from the computer and go do something else. Me? I’m off to the Indian Pass Raw Bar for the afternoon where rumor has it there’s a few dozen raw and a cold pitcher with my and my husband’s names on them. I always have my cell phone with me, though, so don’t hesitate to give me a call at 850-227-5197 or send me an email to sherri@sherridosworth.com if you want to be the first to snap up one of these great buys. I’m never to busy to write up an offer. Or if you’re in the area stop by and see me. Thanks for checking out my blog – looking forward to talking with you.

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Apr 04 2009

Cape San Blas Real Estate Week In Review – Mar. 28 – Apr. 3, 2009

For Sale and Sold My goal is to try and have this weekly review posted by noon each Saturday but it doesn’t always work out that way. I have a great excuse today, though, for checking in late as I have been showing property which is always a good thing. Interest is definitely picking up again as I and a lot of my colleagues have been showing a lot of property lately so that’s a great sign. Another good sign? We had one sale and four new contracts, twenty price changes, only one new listing, and nine expired unsold. Even with all that, our inventory of active MLS listings in the Cape San Blas, Indian Pass and C-30 Corridor market remains relatively unchanged at 409, up just two from last week, with 154 homes and 255 lots.

Haven Road Home on Cape San Blas Under Contract Feb. 27, 2009

Our sale was on this preconstruction package for a 3,200 square foot, 5-bedroom, 5 1/2-bath home on a Cape San Blas gulf front lot on Haven Road listed which sold for full list price of $880,500. The developer says there will be a community pool for use by the owners of this home and three surrounding homes to be built. This property is in the “X” zone (good zone) so no flood insurance required by lenders. According to the MLS, the buyers got conventional financing.

More good news about our four new contracts (all of which have contingencies to be met) is that three of them are lots and one of them was my pick of the week last week from that batch of new listings. I am so glad to see an uptick in interest in lots because we have a large inventory to move through.

Acre Plus Lot On C-30 Only $69,000

Remember this one? It’s a 1+ acre lot out on C-30 about a mile and a half east of the raw bar with 200′ of road frontage, priced right at just $69,000. I listed it Monday a week ago and we got a contract yesterday, Friday. Once again, price it right and they will buy! To refresh your memory this is what I wrote about it then:

This is the perfect setting for your quiet country home on Florida’s Forgotten Coast, and at a price that can’t be beat, just $69,000. This 1.08 acre lot measures 200 x 235 and is conveniently located on C-30 across from Indian Pass Lagoon. Bring your houseplans – septic, power, phone line and 500′ artesian well are already in place. There is a mobile home with appliances and some furnishings on site which will remain, so you even have a place to stay while you build. This lawn has been well cared for, and is surrounded by beautiful wooded scenery. You’re just a few minutes drive to town, our gorgeous beaches, and several boat launches.

Gulf Front Lot at Jubilation Under Contract April 1, 2009

From interior to gulf front, our second contract is on this gulf front lot at Jubilation on the south-facing beach of the Cape which goes under contract with a list price of just $475,000. The county property appraiser has it assessed at $312,000, or just 28 cents on the dollar of what it last sold for in January 2005, $1.1M.

Cape San Blas Gulf View Lot Under Contract Week of Mar. 28-Apr. 3, 2009

Still on the south end of the Cape, our third contract is on this gulf view lot on McCosh Mill Road in the Piney Woods Subdivision. Originally listed last June for $175,000, the seller dropped the price to $125,000 in mid-December and now we have a contract. According to the MLS, this is a 57′ x 135′ roughly one quarter acre lot. There is no recorded sales data on the property appraiser’s web site so I’m not sure what it last sold for.

Money Bayou Cottage for $299,000

If you feel all deja vu when you look at our fourth and final contract of the week, there’s a good reason: we’ve seen this little Key West-style cottage over in Money Bayou on these pages several times now in various incarnations. It starred here a couple of times as a pick of the week through several price changes, and has been under contract two previous times. Let’s hope this third time is the charmer and we see her next as a “sold”. If you recall its history, this sold in July 2005 for $630,000 and has been listed at $299,000 for some time now. I still can’t believe it wasn’t snapped up immediately when it hit that price. This place is the perfect weekend get away spot for two with killer views of the gulf. It’s a fabulously furnished, 734 square foot, 2-bedroom, 2 1/2 bath home on a gulf first tier lot, and FEMA flood eligible. According to its property manager, it already has over $23,000 in rentals booked for 2009, and they are projecting it to do $37,000. What’s not to like? I’m dying to see what this one finally sells for.

Gulf 1st Tier Lot For Only

I know there’s only one new listing this week so a “Pick of the Week” seems a bit odd but this listing probably would have been my pick even if we’d had a dozen or more to select from. This is an awesome deal right out of the starting gate. We’re talking about a first tier lot in Gulf Pines Subidivision, a little over half an acre, nice and wide measuring 100′ wide and 257′ deep, with a beach access easement located directly across the street and between two nice homes so you know exactly what your view is going to be, all for only $219,000. Unbelievable! Here’s what the listing agent has to say in the MLS notes:

NO SHORT SALE, BUT MOTIVATED SELLER – Unique lot where house placement will provide perpetual beach and water views. Priced below MARKET. OWNER FINANCING, X zone lot, across from the deeded access to the beach. Established subdivision with protective covenants; FEMA available. Lot backs to C-30A and beyond it is a conservation area.

If you’d like to grab that phone about now I’ll save you from having to look up my number; it’s 850-227-5197 or shoot me an e-mail if that’s faster. I know you don’t want to miss out on this one . . .

Gulf Pines Gulf Front Now Only $450,000! Here’s something almost equally tasty for our Pick of the Week from among our twenty new price tags. How about a 100′ wide gulf front lot, also in Gulf Pines, for only $450,000? That’s even below the county’s assessed value of $500,000, and just roughly 37 cents on the dollar for what it sold for in 2005: $1.225M. This is a good, deep lot, and this subdivision is FEMA flood insurance eligible. You remember that phone number, right?

We covered a lot of territory this week – I appreciate your hanging on to the end. Let me know if you’re ready to move on any of these or other properties. Also, if you’re thinking of selling, now is the time of year to do it, with us entering into our highest traffic season of the year. As of April 1, we are back to our summer hours and open 7-days a week to service all of your real estate needs along the Forgotten Coast. Have a great week and I hope to see you back here soon.

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Jan 24 2009

Cape San Blas Real Estate Market Week in Review – Jan. 17-23, 2009

For Sale and Sold NewIt may have been an historic week for news, but local real estate certainly didn’t warrant any headlines with very little activity. Our MLS inventory of active listings in the Cape San Blas, Indian Pass and C-30 Corridor market remains steady at 365, down only one from last week, with 141 homes and 224 lots. No closings, but we do have one new contract, along with seven new listings and twelve price changes. Eight expired unsold and two were withdrawn.

Contract on Gulf Front Home with List Price of $899,000

Let’s start with our new contract, which is a 6-bedroom, 4-bath, 3,388 square foot gulf front home on C-30 just west of Money Bayou. This is a lovely home with picture postcard vistas from throughout, plus hardwood floors, granite counters, elevator, jacuzzi tubs, 300 sf decks on each level and it is eligible for FEMA flood insurance. The seller purchased the lot alone in February 2007 for $926,000 then built this gorgeous place. Its list price now, though, is only $899,000, so we’re talking a bundle of cash will probably need to be brought to the closing table. Scary stuff. There are contingencies to be met, so no projected closing date yet.

Gulf Front Lot at Indian Pass for Only $229,000 Unlike last week, there’s a lot to like among this week’s seven new listings, with my pick of the week a no-brainer: how can you go wrong with a 50 foot wide gulf front lot on Indian Pass for only $229,000? Interior lots with no water view at all have sold for more. According to county records, this lot last sold in early 2005 for $700,000, and is assessed at $429,335. Great location, too, not far from the boat ramp, so if you’re into fishing and the family’s big on beach-combing this is absolutely the deal you’ve been looking for. You can reach me at 850-227-7891, ext. 109.

Gu;lf First Tier Home in Treasure Shores Now Only $448,775

That’s tough to compete with but I do have a pick of the week from among this week’s twelve new price tags, and it is this 1,468 square foot, 3-bedroom, 2-bath gulf first tier home in Treasure Shores which went from $695,000 to $448,775, a whopping 35% reduction. Somebody’s getting serious about selling. The lowest priced first tier lot in Treasure Shores is now at $299,000 so that means this home is priced at about $105 per square foot which is reasonable. The home is well maintained and has good views. Check out the view from the screened front porch which runs the length of the home, perfect for casual entertaining.

View of the Gulf From Treasure Shores First Tier Home

That about does it for this week’s review. If you’d like to know more about any of these properties or have market questions in general, give me a call toll free at 855-512-9366 ext. 109 or on my cell, 850-227-5197, or shoot me an email to sherri@sherridodsworth.com . Glad you stopped by today – be sure to check back during the week.

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Jan 03 2009

Cape San Blas Real Estate Market Week in Review – Dec. 27 – Jan. 2, 2009

For Sale and Sold NewI said yesterday in my year end review that I believe 2009 is going to be a better year than ’08, and if the first week is any indication we’re in for a great year. We definitely started off with fireworks, with four sales, one new contract, five new listings and five price changes. Our inventory of MLS listings in the Cape San Blas, Indian Pass, C-30 Corridor took a healthy 4% dip, too, starting off the year at 353, down 14 from 367, with 147 homes (vs. 150) and 206 lots (vs. 217). Lots to cover so let’s get rolling by taking a look at what sold.

The year started off with a bargain hunters bonanza with two homes and two lots all sporting SOLD signs at bargain basement prices. The first home is this 520 square foot 2-bedroom, 1-bath cottage tucked away behind The Tradin’ Post which went under contract back on December 11.

Cottage at Cape San Blas Under Contract Dec. 11, 2008 The sellers picked it up in mid 2005 for $185,000 and put it back on the market just 2 years later in mid-2007 for $199,000 and have been lowering the list price ever since in hopes of attracting a buyer. Finally offering it at $149,000 did the trick; they got an offer and closed this week with a cash deal for $130,000, which is not only a heck of a lot less than they paid for it, but also substantially less than the county’s assessed value of $140,927 which is something we never used to see.

Money Bayou Foreclosure Sold on December 29, 2008

Our second home sale was a foreclosure on a 2-bedroom, 1 1/2 bath 1224 square foot first tier home in Money Bayou with gorgeous views throughout of both the gulf and Money Bayou that we looked at back on the 13th of December. Listed for $375,250, it closed on Tuesday for $311,000, 35% below the county’s assessed value of $480,336. This was the only sale this week with conventional financing; the other three were all cash deals.

Cape San Blas Lot For Only $99,000 Some savvy buyer started the new year off by stealing ths first tier lot on the Cape for only $80,000! This bank-owned property was my October 18 pick-of-the-week when it was listed for a mind-numbing $99,000, almost half of the county’s assessed value of $192,000. Looks like Kes, our property appraiser, has his work cut out for him this spring. The previous owners paid $380,000 for it just three years ago in January 2005.

Lagoon Front Lot on Indian Pass Under Contract Week of Dec. 6-12, 2008Our fourth and final sale of the week came on the market and went under contract the first week of December. It’s a lagoon front property in Mystic Palms subdivision near the point of Indian Pass which was listed for $225,000 and closed on Tuesday for an even $200,000 cash. Just like our other three sales, this, too, is well beneath the county’s assessed value of $250,000.

foo’ Wide Gulf Front Cape San Blas Lot Under Contract Week of Dec. 27-Jan. 2, 2009

Our one new contract this week is on a lot that is a rare breed any more, a 200′ wide gulf front parcel on Cape San Blas listed in July for $1.59M, still below the county’s assessed value of $1.7M. The seller has owned it for nearly 25 years so this will be pure profit at almost any price. The annual taxes of $27,737 are probably more than the fellow paid for it back in the early ’80s. There are contingencies to be met on this contract so no closing date disclosed yet.

Treasure Shores Gulf Front Home Offered for Only $799,000

So what bargains are lurking among our five new listings this week? My pick of the week among them goes to this 1,396 square foot, 3-bedroom, 2-bath gulf front home in Treasures Shores which enters the competition with an attractive price tag of $799,000. Until recently that would have been tantamount to offering the 75′ wide gulf front lot at a mouth watering price and then throwing the house in for free. Wouldn’t you love to call this your back yard?

Treasure Shores Boardwalk to the Beach

Here’s what the listing agent has to say:

Just walk into this open, comfortable and very functionally designed home and experience the true feeling of beachfront living on the C-30 and Indian Pass unspoiled shoreline. Exceptional views with an open floor plan and high, 10 foot ceilings designed for the full panoramic experience. Three bedrooms, 2 full baths (both with jacuzzi tubs), wood-burning fireplace, beautiful oak hardwood floors accented with an ocean blue creamic tile in the kitchen and around the fireplace. Partially screened porch highlights the great location, views, natural setting and surroundings. Outdoor shower and boardwalk to the never crowded, wide beach. Large 75′ wide lot with federal flood insurance available. Owner occupied, never rented, house is in great condition.

Ovation Lot Now Only $149,900 We’ve seen a lot of great bargains already this week and we’re just now getting to the five new price changes, where my pick of the week for this category goes to a lot at Ovation on Cape San Blas which comes down 25% (how’s that for an after Christmas sale?) from $199,900 to $149,900. This is in keeping with the spirit of things as that’s well below the tax assessed value of $192,000, and the $235,000 the sellers gave for it in September 2005. At this rate old Kes is going to have to hire a few folks just to keep up with all these changes. According to the MLS, this price includes architectural houseplans by Donofro Architects, the architectural firm who designed Ovation itself.

I think the lesson we’ve learned this week is that if you price it right the buyers will come. As we saw in the year end review yesterday, lots may still be looking for a bottom, but housing just may be on the rebound locally. If you’re thinking of selling or buying, let’s talk. My direct line is 850-227-5197 or shoot me an email to sherri@sherridodsworth.com. As the owner selling his gulf front parcel purchased in the early ’80s proves, real estate is still your best long term investment. Thanks for stopping by today. Looking forward to hearing from you.

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Nov 22 2008

Cape San Blas Real Estate Week in Review – Nov. 15-21, 2008

For Sale and Sold New No evidence of global warming around the Cape this morning – IT’S COLD OUTSIDE! It was 40 out here on the peninsula when I woke up, and according to weather.com it was 35 in town. There’s been a bit of a chill on our local real estate market this week as well, as for the first time since I started this column fifteen months ago, we had no sales and no new contracts. Even our inventory remains unchanged with a total of 391 active listings in the MLS within Cape San Blas, Indian Pass and the C-30 Corridor, with 164 homes and 227 lots. What little activity there was consisted of four new listings, eight price changes, and six expired unsold.

There’s an absolute clear winner for my pick of the week in this week’s four new new listings – just in time for Christmas, how about a half acre, 50′ gulf front lot at Indian Pass for only $299,000? I’ll save a few thousand words of copy and just show you some photos. This is a gorgeous piece of property.

Gulf Front Lot at Indian Pass Only $299,000

New Gulf Front Listing at Indian Pass for only $299,000

At 0.57 acres, there is plenty of room to build your dream get-away beach home.

Quiet, Peace and Privacy on this Gulf Front Property for only $299,000

I’ll bet this one goes under contract and closes by Christmas at a price like this.

There is an equally clear winner among this week’s eight price changes, this one a 76′ wide lagoon front lot on C-30 fronting the Indian Pass lagoon, slashed from $149,000 to $78,000.

Lagoon Front Lot Now Only $78,000

The sellers are highly motivated; according to the county records, they paid $259,000 for it in January 2005. This large 0.6 acre lot is partially cleared and in a FEMA eligible area. Some lucky person is going to get themselves a very picturesque setting for their weekend getaway.

Call me and let me know if you’d like more detailed info on any of these attractive properties. You can always reach me on my cell at 850-227-5197 or send me an email to sherri@sherridodsworth.com since I check it throught the day and evening. Thanks for stopping by today. Keep warm and have a great weekend.

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Sep 20 2008

Cape San Blas Real Estate Week In Review – Sep. 13-19, 2008

For Sale and Sold NewThe two major news stories sharing the headlines this week have been the wildly undulating international financial markets and the rescue and recovery efforts in Texas in the aftermath of Hurricane Ike. The one glimmer of sunshine in the news comes out of California where housing sales soared upward 13.6 percent in August fueled by a flood of foreclosures. According to MDA DataQuick who released the report on Thursday, 46.9 percent of the 37,988 homes sold last month were foreclosed properties. This is encouraging because Florida’s market typically mirrors California’s.

In spite of all the somber headlines, there was still activity in our local real estate market, albeit no closings for the second week in a row. Our active inventory of MLS listings remains unchanged at 404, with 170 homes and 234 lots for sale in the Cape San Blas, Indian Pass and C-30 Corridor market. We have one new contract, six new listings, nine price changes, and ten expired unsold.

C-30 Home Under Contract

Our one new contract is on a 1600 square foot, 3-bedroom, 2- bath classic Florida cottage on C-30 not far from Waters Edge subdivision. This beautifully built home overlooking a lush savanna is listed for $285,000, and the sellers have owned it since mid-2001 when they purchased it for $220,000. The contract is scheduled to close on or before October 31, so we’ll have to wait awhile to find out what the final price is.

Gulf Front Home Only $899,000

My pick of the week from our six new listings is easily this gorgeous 3388 square foot, 6-bedroom, 4-bath gulf front home for only $899,000. That’s like buying the lot and having the house thrown in for free, and this beautiful home is brand new construction. Check out the view.

View of the Gulf From Indian Palms Home

Here’s the MLS description:

Huge, brand new, beautiful gulf front home with elevator and FEMA flood insurance, priced aggressively to sell. Many custom appointments including hardwood floors throughout main, granite countertops, beautifully tiled bathrooms and showers. Home is completely finished inside. Would make an awesome rental home that could easily sleep 14 or more people, excluding living room. Gulf front homes with 6 bedrooms, plus game room or additional sitting room and an elevator are rare and in high demand as rental accomodations. Large 300 sq ft deck on all 3 floors with expansive views of the beach and gulf. The entire 3rd floor is the master suite with elevator access, separate shower, Jacuzzi tub, tile and a huge walk-in closet. Beach walkway in place.

According to the tax rolls, in February 2007 the sellers paid $926,500 for just the unimproved lot, so we’re looking at a short sale here.

Cape San Blas Gulf Front Lot Reduced From $999,000 to $599,000 My pick of the week from the nine new price tags is this picture-postcard perfect gulf front lot at Secluded Dunes on Cape San Blas just south of the State Park, which was listed for $999,000 and is now reduced to only $599,000. This 61′ wide lot last sold in September 2004 for $910,000.

That about wraps it up for this week’s review. If you’re interested in finding out more about these or any other properties, give me a call toll free to 877-512-9366, ext. 109, or shoot me an email to sherri@sherridodsworth.com . As always, thanks so much for stopping by today.

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Sep 01 2008

Gustav Is a Big Boy

I have to admit being several hundred miles from New Orleans we weren’t expecting all that much action from Gustav, but the wind has been blowing hard and steady since late Friday afternoon and waves continue to pound away at our beaches even at mid-day on Labor Day.

Washout At Stumphole from Gustav Labor Day Monday, 2008

The combination of high tide, and bit of storm surge, and wind just blasting out of south-east washed away enough rocks at Stumphole that the Sheriff closed it this morning around 10 a.m. At that point they were letting people leave, but only property owners were being allowed back in. I’m hearing now that it is closed period while they work on repairs. I’ll let you know when I hear it has reopened. (I apologize for the poor quality of these photos but my camera is at the office which of course I can’t get to this afternoon, so I had to shoot these using my cell phone).

The good news is that beach renourishment did its job and saved homes. Although the surf has eaten away at the beach the water is no where near homes where renourishment has been completed. I stopped by Cape Palms Park to see how the folks at Cape Shoals fared and was thrilled to see the beach in such good shape.

Cape Shoals After Gustav

Before renourishment, there would have been waves washing up under the pilings of these homes from a storm like this so this is just wonderful to see. Here’s a shot looking southward from the same vantage point.

Beach Renourishment Did Its Job During Gustav

Unfortunately, the renourishment program hasn’t yet reached the folks on the southern end of the Cape down approaching Stumphole and they have once again taken a serious beating. I stopped by the Sunrise Sunset townhouses to take these shots.

Gustav Erodes the Beach at Sunrise Sunset

Gustav Arrived Before Renourishment Could Reach These Homes

Over on the bay side the surf has been extremely rough and high all weekend long, at times with rolling waves breaking on shore. One of the docks at Ovation was half way under water at one point this morning.

Breaking Waves on St. Joe Bay from Gustav

The tide has barely receded at all and the next high tide is due around 4. We are still getting bands of strong wind but oddly have had virtually no rain from this system. My rain guage down at the end of our dock was bone dry this morning.

We’re glad to have been spared from heavier damage, and our thoughts and prayers are with our neighbors to the west of us and hope that Gustav spares them from serious damage.

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