Cape San Blas Real Estate Blog

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Azaleas in January at Cape San Blas

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Here are the MLS details:

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

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

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

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

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

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

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

Everyone’s heard of spring fever, but I swear I’ve had a touch of Fall Fever this week as the weather has been so gorgeous I’ve just wanted to get out of the office and stay outside enjoying the warm sunshine and steady breezes. Luckily, I’ve had a lot of appointments to show property so I’ve been able to indulge that urge and be out and about the Cape and Indian Pass with nice folks looking for coastal places to call their own. We had a good week, with three sales, four new contracts, three new listings and five price changes. The inventory held steady, closing at 388,  down only one from last week, with 107 homes and 281 lots listed for sale in the Cape San Blas, Indian Pass and C-30 Corridor market.

The first of our three sales is this corner lot on Tobago Drive near the Tradin’ Post on Cape San Blas that sold in June of 2005 for $365,000. It now belongs to the bank who listed for $62,000, which, low as that sounds, is actually above current comps for this property. It’s a one-third acre “X” zone lot measuring 102′ by 160′ with an assessed value of $80,000, and on Tuesday it closed for exactly half that, $40,000 cash.

We’ll head off the Cape, turn right onto C-30 and go about a quarter mile to the first sub-division on our left, Waters Edge, for our second sale, a bank-owned interior lot that they decided to sell at auction. Last sold in August 2002 for $297,500, and when the bank acquired it earlier this year, they listed it for less than 10 cents on the dollar at $27,900. The highest bid was $13,000, the buyer paid an additional $1500 premium, bringing the total price paid to $14,500 or lest than a nickel on the dollar from 2002. Whoa . . .

Our third and final sale is on this 3-bedroom, 2-bath, 1,248 square foot first tier home on Deepwater Drive near the east end of the Indian Pass peninsula.  It’s a good ways off the beach so even though it’s first tier, I consider it more of a beach-glimpse than a beach-view home. Last sold in md-2004 for $500,000, this circa-1997 home went under contract on September 16 as a short sale with a list price of $239,000, a good bit above its assessed value of $187,665. The sellers have had it on the market since January 2010 with an intial list price of $449,000, and on Tuesday they accepted $210,000.

Back to the north end of the Cape to begin reviewing our four new contracts, beginning as we frequently do in Barrier Dunes with a 3-bedroom, 3 1/2-bath, 1,845 square foot interior townhouse. The sellers bought it in May 2004 for $460,000, started trying to sell it three years later when they listed it for $617,500.  By the time it went under contract this week that list price had been whittled all the way down to $369,000. The county has it assessed at $254,723, which is pretty close to what it sold previously for in March 2000,  $264,500.

On the south side of the Cape in Piney Woods subdivision our second contract is on 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.  The current list price is $40,000, below the county’s assessed value of $45,000.

Only a few blocks past Piney Woods is The Boardwalk and that’s where our third new contract was written. This one’s a lot measuring 77′ by 102′, or 0.18 of an acre listed for $99,000, above the assessed value of $85,000.  These sellers should do ok at closing, having purchased the property back in 1992 for $52,000.

Our fourth and final contract is on an unusual lot in that it appears to actually be in Indian Pass Lagoon, and according to the MLS is accessible only by a trail and recommends buyer to obtain a survey to determine both accessibility and dimensions. Identified as Lot 13 of  The Cottages at Indian Summer, it is one the developer was never able to sell (imagine that) so now the bank is tyring to find a taker. They have it listed for $30,000, below the county’s assessment of $36,000. This one has me scratching my head and I’m real curious to see what it closes for.

That does it for this week. If you’re interested in finding our more about property here on the coast or ifyou’re considering selling, I’ll be glad to help. Please call or text me at 850-227-5197 or shoot me an email to sherri@sherridodsworth.com.  I hope you have a wonderful Thanksgiving with family and friends, thank you so much for stopping by today.

Halloween goblins seemed to have scared off buyers as we had one of the quietest weeks I can remember in quite some time. We managed just two sales, no new contracts, only four new listings, and repriced two properties. The week ends with inventory unchanged, closing at 389, with 107 houses and 282 lots listed in the Cape San Blas, Indian Pass and C-30 Corridor markets.

The first of our two sales  is up at Barrier Dunes on the north end of Cape San Blas where with this 2-bedroom, 2 1/2 bath, 1,377 square foot townhouse which went under contract just last Sunday. It was listed for $199,000 and closed on Friday for $185,000, well above the county’s assessed value of $160,925. The seller bought it in late 2002 when he picked it up for $212,900. 

Our second sale is over in Treasure Bay out along the C-30 Corridor.  It’s a first tier, bay view corner lot listed as a short sale for $29,900. This is a nice size half-acre property measuring 103′ by 220′.  The sellers paid $225,000 for it in October 2004, and sold it this week for $25,000 cash, well below the county’s assessment of $34,000.

For my Pick of the Week from our four new listings, I’m going with the lowest priced “X” zone lot at Ovation, number 74, on the bay side of Cape San Blas Road.  At only $43,000, below the county’s assessed value of $45,000, it’s definitely worthy of a closer look.

  I also have a Pick of the Week from our two price changes.  I think this 3-bedroom, 3-bath, 1,618 square foot gulf view “X” zone home in Two Palms is an attractive offer since the sellers slashed the price this week from $399,000 to $299,000. 

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

Here are the MLS details:

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

So that officially wraps us up for another week. I’m off now to Apalachicola for the afternoon to enjoy the Florida Seafood Festival which as always should be a lot of fun, especially as nice as the weather is today; cool, clear and breezy, with an afternoon high of around 71 forecast. Planning on enjoying some great seafood and good times with old friends. If you’re in the area, hope to see you there.  If you’re interested in info on joining us here on the coast as either a full-time or part-time “Caper”, give me a call on my cell at 850-227-5197 or shoot me an email to sherri@sherridodsworth.com . Looking forward to hearing from you. Have a great week and thanks so much for taking time to stop by today.

Well, the 2011 baseball season is officially over and what a wild few final days it was!  After a week or so of late nights glued to the tv, I must admit I’m looking forward to catching up on some sleep. It seems a lot of other people had their minds on the Fall Clasic rather than real estate as it was a very quiet week, with no sales, only three new contracts, four new listings, and ten price changes. Our inventory went down by four, closing at 389, with 108 houses and 281 lots listed for sale in the Cape San Blas, Indian Pass and C-30 Corridor market.

Interestingly, all three of our new contracts are on properites which last sold in 2005, beginning with this corner lot on Tobago Drive near the Tradin’ Post on Cape San Blas that sold in June of that year for $365,000. It now belongs to the bank who has it listed for $62,000, which, low as that sounds, is actually above current comps for this property. It’s a one-third acre “X” zone lot measuring 102′ by 160′ with an assessed value of $80,000. According to the listing agent there are no contingencies to be met and it should close by the 18th of November.

Our next contract is on a 100′ wide, three-quarter acre gulf front lot in Gulf Pines out along the C-30 Corridor, an area eligible for federal flood insurance.  It’s not listed as a short sale at $529,000 even though the sellers bought it for $1.225M in early 2005.  The county has this on assessed at $300,000 which seems a bit low.  This is a quality property so I’m curious to see what it establishes as a comp price.

Our third and final new contract is on this attractive Key West-style first tier home in Money Bayou. There is a lot of style packed into the 814 square feet of this 2-bedroom, 2 1/2 bath cottage. This one’s listed as a short sale at $239,000, having last sold in mid-2005 for more than twice that, $560,000.  There have been some comp-killer sales in this area and the county has it assessed at a low $185,457.

Even though we only have four new listings, I have a clear favorite among them for my New Listing Pick of the Week. Take a look at this bank-owned first tier, gulf view home on Indian Pass listed for just $364,900. This is a lot of house for the money, with 4 bedrooms, 3 baths, 1,830 square feet under heat and air, a total of 3,930 square feet with decks and porches, situated on a 120′ square homesite just a short stroll out your door to the beach. All this AND  an in-ground pool. This sounds like summer fun just waiting to happen.

That does it for this week. With only two months remaining in the year, it’s not too early to consider getting with your financial planner and seeing whether buying or selling investment property before the 31st of December would be advantageous for you. I’ll be glad to answer any questions you may have regarding local real estate and welcome the opportunity to work with you. Call or text me at 850-227-5197, or shoot me an email to sherri@sherridodsworth.com . Have a terrific week and thanks so much for taking time out of your schedule to stop by today.

We’ve had a relatively quiet week with just two sales, four new contracts, four new listings and six price changes. Accordingly, very little change in our inventory, closing down just two at 393, with 110 homes and 283 lots listed for sale in the Cape San Blas, Indian Pass and C-30 Corridor market.

Both of our sales were lots on Cape San Blas, beginning with this beautiful 64′ by 420′, 0.62 acre gulf front property on Haven Road. This one sold in 1999 for $167,500, and then again in early 2005 for $1.6M, a ten-fold increase in just six years; this week it sold for full list price of $300,000, but was not listed as a short sale. The county had it at $202,608.

The second sale was this quarter-acre gulf view lot in San Dunes subdivision listed for $69,000 which sold for $45,000, both well below the county’s assessed value of $85,000. The sellers paid $385,000 for it in September 2004, the absolute peak of the market.

The first of our four new contracts is one-half of this gulf front duplex on Tobago Lane, near the Cape Tradin’ Post. It’s a 1,190 square foot, 3-bedroom, 2-bath home built in 1983 with 60′ of waterfront. The seller has owned it since the summer of 2002 when she paid $301,520 for it. It went under contract on Thursday with a list price of $299,000, not too far off from the county’s assessed value of $263,057.

Down on the south side of the Cape our next two contracts are on two adjacent bank-owned bay front lots in Eventide, where we saw one of the other adjacent lots sell last week for just $12,000. These two are also listed as that one was at the ridiculously low price of $20,000 each, so I’m guessing $12K is what these will go for as well. The county’s going to have a lot of adjusting to do with these sales as they’ve had them valued at $40,000.

Our fourth and final new contact is over on Indian Pass in the Indian Summer subdivision where this 68′ wide gulf front, FEMA eligible lot went under contract on Wednesday as a short sale with a list price of $230,000. The county has it valued slightly lower at $205,000.

I don’t think I’ve encountered this week’s situation where I think all four of our new listings merit a close look as they’re all good homes attractively priced right out of the gate.

 One is this 2-bedroom townhouse at Barrier Dunes, fully furnished, near the second pool and tennis courts, priced at just $159,000.

It has been a good while since we’ve seen one of the 4-bedroom gulf view townhouses at Seacliffs enter the market priced as low as this one for $295,000. Featuring over 2000 square feet of living area in a reverse layout that has your living area on the top floor to maximize views, and an elevator to make that trek a piece of cake.

Back at Barrier Dunes we have another attractive new listing with so much going for it. It’s a spacious 3-bedroom, 3 1/2-bath, 1800+ square foot townhouse with awesome gulf views AND it’s located in the coveted “X” flood zone. The sellers are pricing it very competitivley at $369,000.  Here are the details from the MLS:

“X” Flood Zone 3 BR/3.5 BA Gulf Front Townhome in Barrier Dunes. Enjoy spectacular views from your decks of the gorgeous sugar white sands of Cape San Blas! Comfortably decorated this unit is the one to have! The main living area is spacious and has its own private deck, the kitchen, dining area and half bath are also located on this level. There is also a fire place. The second level has two bedrooms, each with its own private bath and balcony. The gulfside bedroom has spectacular views from the private balcony. The laundry and additional storage are also located on the 2nd level. The third level is the large master suite, with double vanity, jacuzzi tub, seperate shower, walk in closet and additional storage. There is also a spacious deck to enjoy panoramic views of the Gulf! New roof, newly painted, new carpet, new appliances!

I could arguably be accused of saving the best for last with this one. Here’s a bank-owned magnificent gulf front home at Indian Pass, originally offered in 2007 for $1.999M, now fire-sale priced at 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”. This IS  that deal.

That does it for this week. Lots of goodies from which to choose so let me know if you’re interested in finding out more about any of these or other listings. Text or call me at 850-227-5197 or shoot me an email to sherri@sherridodworth.com . Have a terrific week and I hope to hear from you soon. Thanks so much for taking time to stop by today.