Archive for the 'Real Estate' Category

Mar 15 2014

Cape San Blas Real Estate Week in Review – March 8-14, 2014

For Sale and SoldWarmer weather is slowly returning bringing with it spring breakers and buyers. We only had one closing, but added another eight new contracts, penned eight new listings and made just one price change.  Our inventory of MLS listings in the Cape San Blas, Indian Pass and C-30 market remains essentially unchanged closing at 267, shedding only two from last week, with 72 houses and 196 lots for sale. Another good week with lots to report so let’s get right to it.

Indian Pass Lagoon Front Lot Under Contract February 2014 with List Price of $295,000

Our one and only closing takes us over to Indian Pass where this 1.6-acre lagoon front lot went under contract in mid-February with a list price of $295,000. The sellers purchased it in early $2005 for $164,500, and sold it on Thursday for $280,000.

Cape San Blas Gulf Front 2+ Acre Parcel Under Contract March 2014 with List Price of $525,000

The first of our eight new contracts is a 2.2-acre gulf front lot towards the north side of the Cape just a little south of Coneheads restaurant. The property has 130′ of waterfront and is listed for $525,000. Back in the summer of ’03 it sold for $1.45M, and then again in April ’05 for $2.45M.   Even so, it is not listed in the MLS as a short sale.

Cape San Blas Interior Lot at Ovation Under Contract March 2014 with List Price of $49,000

In nearby Ovation, we have an interior lot on the bay side under contract with a list price of $49,000. The sellers picked up this 0.17 acre lot in June 2012 for $19,000 when the developer deep discounted a lot of their inventory for several months.  The county now has it assessed at $24,000.

Cape San Blas Gulf Front Lot Under Contract March 2014 with List Price of $250,000

About three miles down the road in Planter’s Cove, just a bit north of Scallop Cove, this next contract is on a 50′ wide gulf front lot under contract as a short sale with a list price of $250,000, the seller’s having paid $950,000 for it in early 2006.  The tax-assessed value on it is $205,000.

Cape San Blas Bay View Cottage Under Contract May 2014 with List Price of $149,900

Down on the south side of the Cape in the area of the Old Saltworks tucked back behind the trees is this 1-bedroom, 1-bath, 447 square foot bay view cottage that went under contract on Monday with an asking price of $149,900. It sits one lot back off the bay.

Cape San Blas Gulf Front Lot Under Contract March 2014 with List Price of $249,900

Buyers were certainly in the market for waterfront properties this week as we have yet another gulf front lot under contract, this one a 100′ wide,  1+ acre beauty in the gated Southbeach community. The seller bought it from the developer in 1999 for $150,000 and has it under contract with a list price of $249,900. This property has an ample building area in the “X” zone.

Cape San Blas Home Under Contract March 2014 with as Short Sale with List Price of $279,000

A few blocks away over in Boardwalk, our next

House on C-30 Under Contract March 2014 with List Price of $92,000

We’ll head out onto the C-30 Corridor for our next contract, which is on a 3-bedroom, 2-bath, 1,444 square foot home built in 1996. It sits on a half-acre lot fronting the road, and the sellers got a contract on Tuesdays with them asking $92,000 As Is.

Lagoon Front House at Indian Pass Under Contract March 2014 with List Price of $359,000

We started today on Indian Pass Lagoon and that’s where we’ll end as well, this time out towards the eastern end of the peninsula on Osceola in Indian Pass Beach Subdivision, where this 2-bedroom, 1-bath, 1,096-square foot cottage went under contract with a list price of $359,000. It was built in 2007 and is set well back off the road on a 1.61-acre lot with 99′ of waterfront with a 160′ dock. Can you say fisherman’s paradise???

That does it for this week.  The weather’s warming up and our spring flowers are beginning to bloom so it’s a lovely time to visit. If you are planning to do just that and want to check out some real estate while you’re here, let me know. Call or text me at 850-227-5197, or shoot me an email to sherri@sherridodsworth.com . I love hearing from my readers. Have a terrific week, and thanks so much for stopping by today.

 

 

 

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Feb 25 2012

Cape San Blas Real Estate Week in Review – Feb. 18-24, 2012

For Sale and Sold SignThe winter months are typically slower for our real estate market here along the coast, but no such winter doldrums so far and this week is no exception, with four sales and four new contracts, six new listings and six price changes. Our inventory remains unchanged from last week, closing once again at 380, with 94 homes and 286 lots listed for sale in the Cape San Blas, Indian Pass and C-30 Corridor market. Let’s see what sparked all that interest.

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

The first of our four sales is 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. Listed for $119,900, and valued by the county at $94,796, they 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. This week they sold for $109,000.

Cape San Blas Bank-Owned Interior Lot Under Contract Nov. 14, 2011 with List Price of $40,000

On the south side of the Cape in Piney Woods subdivision our second sale is a bank-owned interior lot which they acquired from the developer who tried to sell it as far back as early 2006 when he marketed it with a $375,000 price tag. It went under contract with a list price of $40,000, below the county’s assessed value of $45,000, and closed on Friday for a bargain-basement price of just $17,000.

Gulf View Second Tier Lot Under Contract Feb. 1, 2012 with List Price of $59,000

We’ll head out onto the C-30 Corridor for our third sale, heading east until we reach this second tier gulf view lot in Indian Palms subdivision that went under contract February 1st with a list price of $59,000. It’s an irregularly-shaped FEMA eligible property measuring roughly a quarter acre valued by the county at $50,000, darn close to the $51,000 it sold for on Tuesday.

Bank-Owned Gulf Front Home in Gulf Pines Near Cape San Blas Under Contract Jan. 9, 2012 with List Price of $799,900

A little further east along the C-30 Corridor, our fourth and final sale is this bank-owned 3-bedroom, 3 1/2 bath, 3,271 square foot handsome gulf front home in Treasure Shores. It went under contract with a list price $799,900 and the current asessed value is $651,881, once again very close its sale price of $649,000 on Friday. It has only had one owner (other than the bank) and built it in 2002. This, too, is in a FEMA eligible area.

Two Cape San Blas Lots Under Contract with Joint List Price of $69,000

We’ll begin our review of this week’s four new contracts up on Sandlewood Blvd. in Peninsula Estates, about a half mile south of the state park where we have another “twofer”, this time two lots being sold as one parcel with a combined list price of $69,000, attractively below the combined assessed value of $95,000. There is roughly 1 1/3 acres between the two of them. They last sold in 1999 for $35,800.

Pick of the Week Dec. 27, 2008 Our second contract is one of my Price Change Picks of the Week from way back, a bay front home on the Cape which goes under contract with a list price of $699,000. The sellers have owned it since 2004 when they purchased it for $750,000, and since then they have renovated and added many upgrades. This 4-bedroom, 3 bath, 3,376 square foot beauty is a treasure trove of bells and whistles.

Check out the view from the deck:Sunset View From Bay Front Beauty on Cape San Blas

Here’s the description from the MLS:

Beautiful bay front home with private boat dock including two boat lifts and a private inground screen-enclosed swimming pool.

Not One but Two Boatlifts on on this Bay Front Home on Cape San Blas

Bay Front Pool on Cape San Blas

Boardwalk to the Bay on Cape San Blas

The spacious open floor plan features a large, entertainer kitchen and large living room and dining room. There is a full apartment on the lower level with full kitchen, living room, bedroom and bath and private entrance and walkout to pool area. The sunrise view from the porch was recently featured in Atlantic Southeast Airlines travel magazine. The privacy, decks, porches and views galore make this a truly special home.

Hot Tub With an Awesome View of St. Joe Bay on Beautiful Cape San Blas

If an in-ground pool isn’t enough, enjoy a dip in the hot tub instead.

And here’s your view from the living room (complete with fireplace).

Bay Front View from the Living Room of this Cape San Blas Home

There are contingencies on the contract to be met, so no projected closing date yet.

Bank-Owned Cape San Blas Office Building Under Contract Feb. 19, 2012 with List Price of $245,000

Next up we have a commercial property on the south side of the Cape, a 2,384-square foot, bank-owned office building listed for $245,000, very close to the assessed value of $223,550.

Indian Pass Gulf Front Lot Sold September 2010 for $156,000

Our fourth and final new contract is on a gulf front lot over on Indian Pass, a 50′ wide property last sold in September 2010 as part of an estate from a family which had owned it for quite some time. At that time it was a very ineresting comp in that the county had it assessed at $350,000, the list price well below that at $289,900, and yet it closed for $156,000. This time around it goes under contract with a list price of $135,000 and an assessed value of $157,500.

That’ll do it for now. We spend a lot of time here each week looking at property values but I was abruptly reminded this week how important it is to stop and take stock of the value of friendships and loved ones. The number of times we get to show those we care about how much they mean to us really is in limited supply, so please try to take some time this weekend to do just that.

I appreciate hearing from my readers and enjoy getting to know so many of you. If you’d like more info on our beautiful area, 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.

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Feb 18 2012

Cape San Blas Real Estate Week in Review – Feb. 11-17, 2012

For Sale and Sold SignIt’s been a rainy, foggy week with even more promised for the weekend, and it was enough to finally dampen our market a bit as we had our first slow week in some time, managing just two sales and two new contracts, seven new listings and thirteen price changes. Unfortunately, that means our inventory continues its slow upward climb again, closing at 380, up three from last week, with 94 homes and 286 lots listed for sale in the Cape San Blas, Indian Pass and C-30 Corridor market. Let’s take a look at what went on.

Cape San Blas Gulf Front Townhouse at Barrier Dunes Sold Feb. 2012 for $225,000

The first of our two sales is also one of our two new contracts having gone under contract and sold for cash in a mere matter of days. This is one of the original townhouses at Barrier Dunes, built back in 1984. It’s a 3-bedroom, 2 1/2-bath gulf front home with a somewhat obstructed gulf view from the main living area due to the large dune centered in front of it. She has definitely seen better times, and needs a little TLC at this point to spruce her up. In 1995 it sold for $163,642, and resold in 1998 for $189,500. That family first put it on the market in December 2008 asking $625,000. It went under contract Monday with a far more modest list price of $274,900, and sold by the end of the week for $225,000. When adjusted for inflation, that $142,500 1989 sale price equals $260,470 in today’s dollars, for a real loss of over $35,000, which is pretty staggering to realize a gulf front property could lose that much value in 23 years.

Bay View Lot on C-30 Corridor Under Contract Jan. 21, 2012 with List Price of $38,500

We’ll head out on to the C-30 Corridor for our other sale, 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, listed for $38,500. Here’s another one with an interesting sales history. In early 2001 it sold for $14,000, 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, which is exactly what it sold for on Valentine’s Day.

Cape San Blas Gulf Front Home For Sale with List Price of $699,000

Our one contract other than the Barrier dunes townhouse which already closed, takes us down to the southern end of the Cape San Blas Peninsula to just before the rocks at Stumphole, where this 4-bedroom, 4 1/2-bath, spacious 3,618 square foot gulf front home 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, initially listing it for $1.399M. The county currently has it assessed for $428,515.

That’s a wrap for now. Quite a change of pace from the past few weeks.We’ve been seeing a lot of activity for this time of year, so if you’re interested in finding a great deal of your own, let me know. You can always reach me by either calling or texting to 850-227-5197 or sending me an email to sherri@sherridodsworth.com . Have a great week, and thanks so much for taking time to stop by today.

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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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Feb 04 2012

Cape San Blas Real Estate Week in Review – Jan. 28-Feb. 3, 2012

For Sale and Sold SignIf 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.

Barrier Dunes Townhouse Under Contract Jan. 27, 2012 with List Price of $144,500

‘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.

Bank-Owned Bay Front Lot Under Contract Jan. 2012 with List Price of $69,000

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.

Indian Pass Bank-Owned First Tier Home Under Contract Dec. 13, 2011 with List Price of $349,900 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.

Cape San Blas Gulf Front Home Under Contract Feb. 3, 2012 as Short Sale with LIst Price of $799,900

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.

Gulf View Second Tier Lot Under Contract Feb. 1, 2012 with List Price of $59,000

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.

Lagoon Front Lot Overlooking Indian Pass Under Contract as a Short Sale Feb. 1, 2012 with List Price of $49,900

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.

Gulf Front Home on Indian Pass Under Contract Feb. 4, 2008 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.

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Jan 28 2012

Cape San Blas Real Estate Week in Review – Jan. 21-27, 2012

For Sale and Sold SignJanuary 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.

Cape San Blas Gulf View Home Sold Jan. 26, 2012 as Short Sale for $210,000

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.

Cape San Blas Gulf Front Lot Sold Jan. 26, 2012 for $122,500 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.

Cape San Blas Duplex Under Contract Sep. 15, 2011 as Short Sale With List Price of $150,000 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.

First Tier Lot Near Indian Pass Sold Jan. 27, 2012 for $88,000

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.

Bank-Owned Indian Pass Gulf Front Home for $629,900

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.

Barrier Dunes Townhouse Under Contract Jan. 27, 2012 with List Price of $144,500

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.

Cape San Blas Gulf Front Home Under Contract Jan. 24, 2012 as Short Sale with List Price of $499,000

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.

Cape San Blas Gulf Front Lot Under Contract April 2011 with List Price of $325,000

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.

Cape San Blas Gulf View Lot in Seagrass Under Contract Jan. 24, 2012 as Short Sale with List Price of $97,000

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.

Cape San Blas Gulf View Home Under Contract Jan. 26, 2012 with List Price of $599,000

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.

Bay View Lot on C-30 Corridor Under Contract Jan. 21, 2012 with List Price of $38,500

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.

My azaleas are blooming in January.

Azaleas in January at Cape San Blas

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Jan 21 2012

Cape San Blas Real Estate Week in Review – Jan. 14-20, 2012

For Sale and Sold Sign2012 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.

Cape San Blas Gulf Front Home Under Contract Dec. 5, 2011 with List Price of $349,000

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.

Cape San Blas Home in Boardwalk Sold Jan. 2012 for $250,000

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.

Cape San Blas Barrier Dunes Townhouse Under Contract Jan. 19, 2012 with List Price of $144,500

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.

Barrier Dunes Townhouse Under Contract Jan. 19, 2012 as Short Sale with List Price of $177,812

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.

Cape San Blas Gulf Front Home For Sale with List Price of $699,000

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.

Cape San Blas Home in Jubilation Under Contract Jan. 18, 2012 as Short Sale with List Price of $449,000 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.

Bank-Owned Cape San Blas Townhouse Under Contract Jan. 20, 2012 with List Price of $210,900

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.

Bank-Owned Bay Front Lot Under Contract Jan. 2012 with List Price of $69,000

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.

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Dec 17 2011

Cape San Blas Real Estate Week in Review – Dec. 10-16, 2011

For Sale and Sold SignAs 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.

Cape San Blas Bay Front Lot Sold Dec. 13 for $30,000

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.

Indian Pass Bank-Owned First Tier Home Under Contract Dec. 13, 2011 with List Price of $349,900 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.

Money Bayou Gulf Front Lot Under Contract Dec. 13, 2011 with List Price of $299,000 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.

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Dec 11 2011

Cape San Blas Real Estate Week in Review – Dec. 3-9, 2011

For Sale and Sold SignEven 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.

Indian Pass Gulf Front Home Under Contract Sep. 21, 2011 with List Price of $790,000

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.Second Tier Lot at Cottages of Indian Summer Under Contract Nov. 22, 2011 with List Price of $27,500 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.

Cape San Blas Gulf Front Home Under Contract Dec. 5, 2011 with List Price of $349,000

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.

Cape San Blas Gulf Front Home Under Contract Dec. 9, 2011 with List Price of $798,000

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.

Cape San Blas Gulf View Home Now Just $299,000 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.

Pretty Gulf View From Home at Two Palms

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

Screened In-Ground Pool at Two Palms Home

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.

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Nov 26 2011

Cape San Blas Real Estate Week in Review – Nov. 19-25, 2011

For Sale and Sold SignI 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.

Cape San Blas First Tier Lot Under Contract Nov. 22, 2011 with List Price of $109,000 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.

Second Tier Lot at Cottages of Indian Summer Under Contract Nov. 22, 2011 with List Price of $27,500 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.

Cape San Blas 1.25 Acre Gulf Front Lot Now Just $225,000 as Short Sale

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.

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