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.

  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.

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.

  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.

Our 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.

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.

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?

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.

  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.

First, let’s take a look at our overall inventory. We started the year with 489 total MLS listings in the Cape San Blas, C-30 Corridor, Indian Pass market vs. 355 at year’s end which represents a very healthy 27%+ reduction, with 148 homes this year vs. 169 last year, and 207 lots this year vs. a whopping 320 last year, so those are numbers worth celebrating.

If there was a bright spot in our market this year, it was surprisingly in residential sales, which were up 14.5% over 2007.  When you look at home sales year to year, it appears that 2007 may have been the bottom and we began a slight recovery in 2008 as the numbers for ‘08 were better than ‘07 in every respect. Here is a snapshot 6-year history of home sales in the Cape market:

The same cannot be said for lots sales, however, as dollar volume was practically half of what it was last year and down 97% from the market high in 2004. Here’s a similar 6-year record of lot sales in the Cape San Blas market which includes the Cape, C-30 Corridor and Indian Pass.

I feel optimistic overall heading into 2009 and am glad to leave ‘08 behind. I think at this point we have weathered the worst in our area and have started a slow recovery. I’ll continue to keep you posted on market conditions as we find our way through the new year.

The target spot is marked with a large rock atop the wall spray painted with a day glow orange smiley face, (think southern take on the megalithic moai of Easter Island).

It is absolutely amazing to see just how much sand has been put in place in this area:

To give you an idea of just how big a change this is, here’s a photo taken in the wake of Gustav earlier this summer from the same general location of where I was standing when I took each of these photos, just shooting in opposite directions, but it gets the point across.

 Our sale was the 2-bedroom, 2-bath, gulf view Barrier Dunes townhouse we looked at last week when it went under contract with a list price of $299,000.  According to the tax records, the seller paid $425,000 for it in March 2005 and put it on the market in February 2007 starting with a list price of $435,000. He has lowered it incrementally since then and finally closed on Christmas Eve for $277,500.

Shoppers wanted gulf front this week, as our two new contracts are on a gulf front home in Treasure Shores (C-30 Corridor) and a gulf front lot on the Cape. This gulf front single family home was recently one of my picks of the week when it was reduced from an already low $795,000 to bargain priced $749,000.  Check out the view from the decks:

  Like living in a Florida postcard. Here’s the listing notes details:

Lovely home with a great layout for lots of company. Each bedroom has a private bathroom, and all rooms face the beach. On the first level the kitchen, dining and living space enjoy ample beach front views; this area extends to the front deck with equally breathtaking views and roomy space for gatherings. On the west side of this floor is a king size bedroom with bath. On the top level are two bedrooms, a den-sitting area, and the master bedroom. All three rooms open to a large screened porch. Storm shutters, tile roof, great rental with a loyal follow up, and mostly in excellent condition with new carpet installed in 2007.

With a gross rental income of $31,185 the numbers work well. This 3-bedroom, 3-bath 1,886 square foot home was built in 1997 and sits on a 75′ wide, roughly half acre gulf front lot. There are contingencies to be met so no indication as to when it may close.

The gulf front lot on the Cape which went under contract is also one of our new listings, so new, in fact, that photos of it have not yet been posted to the MLS. It is a 116′ wide property two lots north of the Sunrise Sunset townhouses which are about halfway between Stumphole and Scallop Cove. Priced aggressively to sell with a list price of $399,000, it’ll be interesting to see what it finally closes for. It, too, has contingencies to be met so no note as to when it is scheduled to close. List price is $3,439 per waterfront foot, which is about where we were back in 1995 when I first started selling real estate on the Cape.

Only three new listings, one of which is the lot above already under contract and the other two really don’t excite me so no pick of the week for new listings today.

Among our three price changes, my clear winner for pick of the week is easily this bay front home on the Cape which was reduced from $989,000 to a very attractive $899,000. 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:

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.

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.

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).

This peaceful private setting would truly be like being on vacation everyday of your life.

Call me at 850-227-5197 if you’d like additional info on these or other area properties, or shoot me an email to sherri@sherridodsworth.com . Be sure to check out my year in review on Thursday where we’ll look back and see how 2008 stacked up. Have a safe New Year’s Eve and don’t forget to make those resolutions!

Our closing was on the house at Money Bayou which only went under contract around the first of the month. The sellers bought it in March 2002 for $237,000, listed it in early November for $299,900, and sold it on Friday for $250,000. Not bad in our current market. Sounds like a win win situation for both them and the buyers. Nice to have a story with a happy ending for a change, isn’t it?

  Our one new contract is on yet another Barrier Dunes townhouse, this one a 2-bedroom, 2 1/2 bath, 1,369 square foot gulf view unit listed for $299,000. According to the county tax rolls, the seller paid $425,000 for it in March 2005 so the happy ending here will only be on the Buyers side.  According to the MLS, this is scheduled to close on Christmas Eve, so some good little girl or boy is getting a place at the beach for Christmas!  Shhh . . . don’t tell. Way to go, Santa. (I don’t think I’ve ever been quite that good).

I have two picks of the week from among our twelve new listings, a golf course lot for only $57,600, and at the opposite end of the spectrum a gorgeous bayfront estate for $1,350,000.

The golf course lot is a quarter acre located on St. Joseph’s Bay Country Club with great golf course views. At $57,600, this is one of the lowest priced lots in our market. Three adjacent lots are also available making this a great opportunity to pick up all four lots and build two duplex buildings with a total of four units.

Since it doesn’t cost a penny to dream might as well dream grand dreams, and this newly listed bayfront estate on St. Joe Bay is truly grand. Situated on over 5 acres with 250+ feet on the water, this is a nature lovers dream come true. Check out the sunset view from the deck.

This is over on C-30 not far from Presnell’s. Here is the home’s dock.

Enjoy fishing right in your own back yard. Sweet!

  My pick of the week from our thirteen new price tags, is this gulf second tier lot at Ovation on the Cape which was $419,000 but now only $250,000, which is a far cry from the $450K the sellers paid for it in August 2005. Ovation is the premier subdivision on the Cape, first class all the way.

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

Our two new contracts are on a home in Money Bayou and a lagoon front lot at Indian Pass. Let’s start with the home.

  This is a gulf first tier single family 2-bedroom, 1-bath, 1,224 square foot home with gorgeous views throughout of both the gulf and Money Bayou. Although it’s located in our market, it’s listed in the Bay County MLS, and is a Fanny Mae owned bank foreclosure with a list price of $375,250.

Our second contract is on this lagoon front lot in the Mystic Palms subdivision near the point on Indian Pass.  Assessed by the county for $250,000, it is listed for sale for only $225,000, so it’ll be interesting to see what it actually closes for. There are contingencies to be met so no indication as to

when it might be scheduled to close.

My new listing pick of the week from among our five new listings is this priced-to-sell-NOW 51′ wide, 0.64 acre gulf front lot at Two Palms on the Cape for only $499,000. Here’s how the MLS notes describe it:

If you are looking for a deal on a gulf front, don’t let this one pass you by. The owner says SELL and at $499K, this beautiful .64 acre gulf front lot is priced to sell! Located in prestigious Two Palms subdivision, the beaches are wide, gorgeous and secluded plus the owners have dedicated beach access via private boardwalks. The owners in Two Palms have maintained an abundance of natural vegetation to allow each home to enjoy its privacy as well as the views. The homes already built in Two Palms are executive type homes so the value of your property is protected. This is the gulf front deal you have been waiting on!

The beach at Two Palms is wide and secluded, as shown in these two views:

As for our twelve new price tags, my pick of the week easily goes to this gorgeous bay front home on the Cape originally listed in April for $979,000, and re-priced this week to sell immediately at only $499,000, less than what until recently you would hope to pick up the lot alone for. This is no fixer-upper, either - it is a waterfront showplace anyone would be proud to call their own. It even has an inground pool, with one of the best poolside views on the Cape. Check it out.

Here’s the scopp from the MLS notes:

BAY FRONT - PRICE REDUCED!! All modern decor inside this house with your very own private waterfront pool. Almost 70′ of bay frontage with a panoramic view looking over St. Joe Bay with Cape San Blas on one side and Port St. Joe on the other. Built in bookcases, vaulted ceiling, elevator, fireplace, recessed lighting, and the latest in kitchen appliances are just some of the great aspects to this home. Launch your kayak in your backyard and go fishing, scalloping, or snorkeling for the day.

Here’s a shot of the exterior:

That does it for this week’s market wrap up. Give me a call toll free at 877-512-9366 or shoot me an email to sherri@sherridodsworth.com to find out more about these properties or to explore what your property might bring in today’s market. I love hearing from my readers so just stop in to say hello. Thanks for stopping by today.

We whittled away nicely at our inventory ths week with nearly a 3% reduction, coming in with a total of 379 active MLS listings in the Cape San Blas, Indian Pass and C-30 Corridor market, with 6 fewer homes this week than last, 155 vs. 161, and 5 fewer lots, 224 vs. 229.

No closings, but we do have two new contracts, four new listings, nine price changes and sixteen expired unsold. Both of our contracts are on homes, and both in the Money Bayou area.

    Our first new contract is on this lovely 2-bedroom, 2 1/2/ bath 739 square foot Key West-style home over in Money Bayou we saw deeply discounted several months ago. This home had a contract back in mid-July which fell through. The seller gave $630,000 for it in mid-2005, listed it back in March of this year for $399,900, but dropped it not long thereafter to the unbelievable price of $299,000. There are contingencies to be met so no way of knowing yet when it might close, but this will be an interesting one to watch. I hate to see this happen to anyone. 

Our second Money Bayou contract is on a home which came on the market back in January, originally asking $375,000, but subsequently lowered to $299,900. The sellers bought it back in early 2002 for $237,000 so they should have plenty of room for a potential profit. It’s scheduled to close by the 17th.

Only one home among the four new listings and it’s my pick of the week. This is a 3-bedroom, 3 1/2 bath, 1,692 square foot townhome at Seacliffs on Cape San Blas, with beautiful views from throughout, and a beautiful price tag to match, only $365,000. Check out the views from its decks.

This townhome is in great condition and definitely priced to sell. It has been used as a second home, and not rented. Other features include easy access to the boardwalk, unobstructed views from all floors, enclosed garage, elevator, tile floors, carpet and vinyl, fully furnished and just ready for you to move in.

I’m going with a lot for my pick of the week from our nine price changes. It’s a canal front lot on Indian Pass just past the bridge reduced from $219,000 to $199,000. The MLS notes tell why I like this particular property at this price:

Old Florida at its finest (with FEMA!) - come see this beautiful canal front 1/2 acre lot which overlooks Indian Lagoon, has deeded Gulf access as well as a Gulf front pool and clubhouse in the quiet and secluded Indian Summer subdivision. Protective covenants and restrictions, low annual dues of $1000, LARGE 90 ft wide by ~300 ft deep lot - very nice value in an ideal natural setting. This lot would be either an outstanding investment property, or the perfect peaceful setting for your new beach house - very short walk to the community boardwalk to the beach (around the Gulf front pool), while still being able to enjoy the endless marsh and lagoon views from the back of the property. PLENTY of buildbale area on this lot which qualifies for the inexpensive federal flood insurance. Must see this setting and subdivision to appreciate.

BEST DEAL IN INDIAN SUMMER!! Recent survey by Edwin Brown shows the majority of this property lies out of the CBRA area, which would qualify for federal flood insurance. PLENTY of room for a large house with federal flood insurance available. Outstanding views of the marsh, canal and lagoon. A future house would even provide views of the Gulf, which is only a short walk down the private oyster shell road to the community boardwalk to the beach (and Gulf front pool and clubhouse). Very nice opportunity - come check it out.

That about does it for this week. There’s still time to wrap a nice property up in time to surprise someone this Christmas with a little piece of paradise along the Forgotten Coast. If you’d like more info on these or other opportuniies give me a call toll free at 877-512-9366, ext. 109 or shoot me an email to sherri@sherridodsworth.com . Have a great week, and don’t forget . . .

GO NAVY - BEAT ARMY!!!!

Our sale was this bank-owned 3-bedroom, 3 1/2 bath 2,639 square foot gulf view home in Seagrass on the Cape that went under contract on October 25. Originally listed in June for $719,000, in Septebmer the bank dropped the price to $500,000, well below the county’s assessed value of $541,144. They closed on Friday for $455,000. The last recorded transfer of this property prior to the Clerk handing it over to the bank was when the developer quit claimed it to one of the principles of that company in October 2006 with a recorded price of $647,000.

 Our one new contract is also bank-owned, this gulf-view lot on the Cape just outside the entrance to the state park which was my pick of the week back on October 18 when it came on the market for only $99,000. Someone’s getting a great deal on a gulf-view lot for Christmas. There are contingencies to be met so no posted closing date yet.

There are only three new listings this week and two of them tie for my picks of the week. Both are gulf front lots on Indian Pass; one in the Reservation sudivision and the other down by the boat launch at the tip of the IP peninsula.

The lot by the boat launch last sold in April 2005 and is assessed by the county at $437,410. It is now bank-owned and they seriously want to move it off their books as they’ve put it on the market for only $325,000. This is nearly half an acre, measuring 50′ by 480′ (according to the MLS) which is only $6500 per waterfont foot.

The gulf front lot at Reservation is about the same size, and enters the market for only $349,900. It last sold in September 2004 for $695,000 and is assessed by the county for $445,315. The Reservation subdivision features a community pool, and bath house.

Indian Pass gulf front lots rule today and my pick of the week from our 5 price changes is a 68′ wide gulf front lot located in the gated community of Indian Summer. This lot was $599,000 but slashed this week to only $395,000, or roughly $5,800 per waterfront foot. These sellers have been trying to move this since May 2005 when they listed it for $949,000, have been tweaking it downward ever since, and now have it priced to basically get back what they paid for it in early 2002 for $380,000. As with our other two gulf front lots, this one, too, is now priced below the county’s assessed value of $578,000.

There are some good values emerging, and if you’re interested in diversifying your portfolio, these properties are worth looking into. Call me on my cell at 850-227-5197 or shoot me an email to sherri@sherridodsworth.com .  Thanks for stopping by today and I hope to hear from you.

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.

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

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.

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.

Our four new contracts consist of 3 homes and one lot, all on Cape San Blas, and since one home and lot appear to be a package deal, we’ll start there.

This roughly 3,000 square foot, 4-bedroom, 3 1/2 bath gulf front lovely is located in the shopping district across the street from Scallop Cove BP. It’s a fairly new place having been built in 2004.  I understand it’s supposed to close fairly quickly. These same owners also had the 1st tier lot listed for a parcel that would stretch from the road to the Gulf and since it  went under contract the same day I think it’s safe to assume one buyer took them both. Here’s a view of both taken from Cape San Blas Road.

List price for the house was $849,000 and for the lot $399,000 so I’ll be very interested to see what sort of a package deal was negotiated.

  At the opposite end of the size spectrum, our next contract is on this 520 square foot cottage on Jamaica Drive behind The Tradin’ Post. (I guess our buyers this week all wanted to be in “the shopping district”).  This one is likely to have some ouch factor when it closes since it was listed for $149,900 even though the sellers paid $185,000 for it in May 2005.

  Our fourth and final new contract this week was on this 2-bedroom, 2 1/2 bath gulf view end-unit townhouse at Barrier Dunes with a situation very similar to the little cottage above in that the property is listed for $370,000, well below the $575,000 the sellers paid for it in mid-2005.

Of our twenty new listings, ten are lots located up at Sea Cliffs, just outside the state park, and my pick of the week is also at Sea Cliffs, a 2,000 square foot, 4-bedroom, 4 1/2 bath furnished townhome with terrific views and a terrific price of only $419,000. Check out this view of the gulf and pool from the spacious deck off the living area of this home.

  I love the layout with the first two levels each having a master suite and a bedroom, and then the living area is on the top level providing those great panoramic views. Don’t worry - there’s also an elevator. As an added bonus it is being sold completely furnished and ready to enjoy. Just pick up the keys at closing and head to the beach.

  I have two picks of the week from our eighteen price changes, two side-by-side gulf front homes at Indian Pass which originally came on the market at $1,395,000 each, have been whittling their way downward ever since, coming in this week with new price tags reading just $750,000 each. Whoa. These are gorgeous homes, new contruction (2007), and being sold fully furnished. Each has 4 bedrooms, 3 1/2 baths, and 3,000+ square feet of living area. How long would it take you to get used to this view of the beach from the deck?

If you’ve been wondering what to get that certain special someone for Christmas this year, give me a call and we’ll write up the paperwork for Santa to make you a hero.

Speaking of beaches, its time to wrap this up and get on over there to enjoy this beautiful sunny autumn day. Give me a call at 850-227-7891 or send me an email to sherri@sherridodsworth.com if you’d like more info on these or other properties, or if you’re thinking of selling. Thanks for stopping by and I hope to hear from you soon.