Archive for August, 2019

Aug 30 2019

Cape San Blas Real Estate 2 Weeks in Review – Aug. 17-30, 2019

Published by under Cape San Blas

 As we head into the Labor Day Weekend, all eyes are on Dorian as it makes its excruciatingly slow advance towards the Florida coast. Praying it will head out into the Atlantic. Until then, we sit tight, watch and wait. Our real estate market has been anything but slow – I apologize for not getting this update out last weekend but my work schedule was overflowing and something had to give.  Was able to get caught up this week and so today I am giving you a 14-day market wrap up so you won’t miss out on anything.

Since we last met, our inventory has grown by four, closing this week at 293, with 74 homes, 214 lots, and 5 commercial MLS listings in the Cape San Blas, Indian Pass and C-30 Corridor market. We’ve had ten sales, twenty-three new contracts (13 of which were RV lots in the Colors Way subdivision we’ll look at under sales – I’m only going to show and write about one representative lot so you won’t have to wade through a slew of them). Sellers added thirty-four new listings (again – 15 of which were those RV lots), and made price changes on twenty others. There has been a LOT going on so, depending on what time of day you’re reading this, either grab a cuppa Joe or a refreshing adult beverage and settle back in a comfy chair as we take a look at what all has been going on.

The first of our ten sales is in Cape Breezes with a gulf front estate that quickly went under contract just a few days after being listed. The offering consists of a 4-bedroom, 4 1/2-bath, 3,676 square foot home built in 2018 on a 100′ wide expanse of gulf front property. Directly behind it is a first tier lot, and on the second tier lot beyond that is a 3-bedroom, 3-bath gulf view home with a pool. That home fronts Cape San Blas Road, so the estate spans from the road to the gulf. The whole enchilada was listed for $2.8M and sold last Friday for $2.625M.

Our second sale is the recently-listed condo in a second tier quadplex on Antiqua Drive, back behind Pristine Properties. This 3-bedroom, 2-bath, 1,274 square lower level unit last sold in late 2016 for $240,000. It was built in 1985 and has undergone a major renovation in the wake of Hurricane Michael, emerging with a totally new lease on life with a new roof, all new windows and doors, new decks, stairs and myriad other upgrades. She’s looking great and ready for another 34 years of fun in the sun. Several offers were submitted within hours of it hitting the MLS last Sunday with a $424,900 price tag. If you’re feeling a little deja vu reading this it’s because you read about the unit above it a few weeks ago when it, too, hit the MLS and went under contract within hours. This one did the same thing as it was listed on August 8 and went under contract the following day. Last Thursday, the new owners picked up the keys at closing for $416,000.

Our third sale is a storm-damaged 4-bedroom, 4-1/2-bath, 2,340 square foot gulf front home on Sassified that was listed on the 14th for $850,000, As Is, and went under the contract the following day. It last sold in the summer of 2014 for $645,000. The listing said they have a contractor’s estimate for needed repairs.  On Friday it closed for $850,001 cash.

For our fourth sale we’ll leave the Cape and head out onto SR-30 traveling over to Simmons Bayou for something out of the ordinary – an entire subdivision. Colors Way is a 15-lot subdivision off SR-30 basically across the street from where Triple Tails restaurant used to be. All of the utilities and road have been installed, and the entire entity contains roughly 3.1 acres. The sellers had it listed for $673,500 and it sold on the 20th for $400,000.

We’ll turn around and head east along the C-30 Corridor traveling over to Treasure Shores, home to our next two sales. First up is this little 2-bedroom, 2-bath, 1,342 square foot gulf front cottage listed for $599,900. I think the family may have owned this for quite some time as I found no sales data on it in the Property Appraiser’s website. It’s on a nice wide lot with 75′ of frontage.  Last Monday the new owners took title for $560,000.

Our second sale in Treasure Shores is this first tier, 4-bedroom, 3-bath, 1,880 square foot home with lovely gulf views. It is a newer home, built in 2017. The seller bought the lot that same year for $130,000, had the house listed for $699,900, and sold it for $685,000.

Our last last four sales are all over on Indian Pass, the first two of which are in The Reservation, starting with this 47′ by 350′, 0.37-acre gulf front lot that went under contract just last week with a list price of $259,900. The sellers bought it in 2003 for $350,000 and sold it on Friday for $246,000.

Our second sale in The Reservation is this 52′ wide Gulf front lot in the Reservation listed for $249,000. The sellers bought the 0.4-acre property in 2013 for $130,000 from folks who had paid $830,000 for it in 2003.  Ouch! It may be sizzling hot here today but someone got seriously scorched back then. Anyway, on Thursday it closed for $222,500.

Our ninth sale is a rare find, gulf front acreage, specifically 7+ acres in a 1,293′ deep parcel with 238′ of gulf frontage.  This land hasn’t changed hands in recent years so I found no significant sales data in the property appraiser’s records. It went under contract in early June with an asking price of $1.499M, and sold on Wednesday for $1.3M.

Our tenth and final sale is this 5-bedroom, 5-bath, 3,861 square foot beauty listed in mid-July for $1.499M.  The 51′ wide gulf front lot alone sold for $971,300 to a buyer who built this home on it in 2007. When the market tumbled it went to the bank who sold it to the current owners in 2012 for $587,500. She was a little worse for the wear having sat vacant for so long but these owners have beautified her well beyond her former glory, restored the in-ground pool, and dressed her to the nines with beautiful new furnishings.  On Friday, happy new owners picked up the keys at closing for $1.375M cash.

Cape Breezes is home to the first two of our twenty-three new contracts starting with this 4-bedroom, 4-1/2-bath, 2,614 square foot gulf view home listed for $819,000. This popular rental has a great income history, helped no doubt by its many amenities such as a heated in-ground pool, golf cart for traveling with your gear to the beach, a fenced kennel run, elevator and, of course, that afore-mentioned gorgeous gulf view. The sellers bought the lot in mid-2013 for $87,500 and immediately set about building the house.

Our second contract is right next door, and it’s on this 3-bedroom, 3-bath, 1,829-square foot gulf view home listed for $649,000. This is the second tier home that was part of the $2.625M package sale we looked at earlier.  It’s built on a half-acre lot that the seller bought in 2003 for $400,000.

In nearby Hibiscus Gulf, buyers had their offer accepted on this 100’ by 115’, quarter-acre, X zone gulf view lot listed for $175,000. This property belongs to the developer’s family, so no sales history.  Hibiscus Gulf is a pleasant little gated neighborhood with an attractive community pool, Gazebo overlooking the gulf, and a quiet, low density stretch of beach by Rish Park.  Owners also enjoy deeded bay access across the street which includes a walk over out into the bay.

Our fourth contract is in Ocean Haven on Haven Road where this developer-owned, 64′ by 211′, 0.31-acre gulf view X zone lot went under contract last Sunday with a list price of $184,900, well below what other lots in this stretch have been going for.

Our next two contracts are in Cape Isle Preserve, a subdivision just north of the rocks at Stumphole, an area with a history of high beach erosion. The first contract is on a 48′ wide gulf front lot listed for $249,000, well below the $650,000 it sold for in 2004.

The other Cape Isle contract is on this 4-bedroom, 3-1/2-bath, 2,213 square foot first tier house listed for $899,000. The seller bought the lot in 2016 for $109,000 and built the house that same year.

We’ll head to the south side of the Cape for our seventh contract which is on this older 3-bedroom, 2-bath, 1,224 square foot bay front cottage listed for $319,900.  The lot is 100′ by 1,075′, with 2.48 acres, so it’s a wonderful piece of property.  The last time it sold was in 2007 when it went for $550,000.

Our next contract is a bank-owned lot out on SR-30 listed for $69,900. The 98’ by 215’ parcel last sold in mid-2005 for $210,000. Ouch.

Contract number nine is over in Waters Edge, the first subdivision on your left after turning right off of Cape San Blas Road onto C-30.  This irregularly-shaped, 0.2 acre lot was listed for $59,900. The seller bought it years ago from the developer as one of a number of lots so no sales data on this one.

Look familiar? This is an aerial showing the area of the Colors Way subdivision sale we looked at earlier, and it is home to our final 13 new contracts. The developer is offering these as RV lots for $59,900 each which includes water and sewer taps.  It seems they were taking reservations for them as they waited to close on the parent parcel as all but two went under contract as soon as they were released for sale. They’re located a few hundred feet from Presnell’s boat launch and RV park.

And that brings us completely up to date.  Thanks for hanging in there to the very end!  As you can see, demand remains strong.   If you’re thinking of buying or selling, let me know. I’ll be glad to help you. Just call or text me at 850-227-5197 or drop an email to sherri@sherridodsworth.comand we’ll get started.

For my readers on Florida’s east coast, please know that all of us here in the panhandle know your anxiety and pray for your safety through the coming storm.

Reminder – If you would like to read this with the links to the various listings, I can only email them to you now with our new MLS which I’ll be glad to do. Just let me know by sending me a request to sherri@sherridodsworth.com and I’ll set you up to receive my blog post with the links each week.

Please follow and like us:
error

Comments Off on Cape San Blas Real Estate 2 Weeks in Review – Aug. 17-30, 2019

Aug 17 2019

Cape San Blas Real Estate Week in. Review – August 10-16, 2019

Published by under Cape San Blas

For Sale Sold SignWell, it is definitely summer in Florida. We’ve had a hot sunny week with afternoon temps in the 90’s. Seems like the only thing hotter than the weather is our sizzling hot real estate market, with four sales and four new contracts, thirteen new listings, and eleven price changes. Our inventory added four, closing the week at 289, with 73 houses, 210 lots, and five commercial MLS offerings in the Cape San Blas, Indian Pass and C-30 Corridor market.

We’ll launch our review of this week’s four sales in Peninsula Estates, a neighborhood about half a mile south of the entrance to the state park. This subdivision is one of the earliest on the Cape, platted in the late 70’s. It spans from the bay to the gulf, and all of the lots convey with deeded access to both. There is no HOA or HOA fees.  A couple liked the sound of that and submitted a winning offer on this 75′ by 200′, roughly third of an acre lot on Sandlewood Boulevard on the bay side of the neighborhood.  The sellers bought it in 2016 for $44,000, had it listed for $67,000, and sold it on Wednesday for $65,000.

We’ll travel down to the south side of the Cape for our second sale, which is a quarter-acre, gulf view lot measuring 50′ by 239′ on Mercury Lane in Surfside Estates. Really interesting sales history on this one. In sequence:

  1. JUN 2003 – $195,000
  2. SEP 2004 – $345,000
  3. MAY 2014 – $75,000
  4. OCT 2017 – $84,500

The current owners had it listed for $115,000 and signed over the title to the new owners on Friday for $105,000.

For our third sale we’ll leave the Cape traveling west along SR-30 over to this 100′ by 225′ lot. being touted as an RV-ready lot abutting a state preserve.  Even though un-removed RVs were a serious problem with the storm surge of Hurricane Michael – we still have the remnants of one on the Case near stumphole – apparently the County powers that be have abandoned our previous RV ban along the coastal corridor so more of these are beginning to pop up all over the place. ALL over the place. Even on the Cape itself. It wa listed for $64,000 and sold on Friday for $62,500.

Our fourth and final sale is one that was added to our MLS this week as a comp sale meaning it was not listed for sale but an agent brought a buyer that resulted in the sale. It’s a 140′ by 105′, third of an acre lagoon front lot in Mystic Palms, a subdivision out towards the tip of Indian Pass. Back in 2004, the developer sold it for $350,000. That owner lost it to the bank who sold it in 2014 for $68,500. This week’s seller wanted $119,000 for it and got just that on Friday.

Now on to our four new contracts beginning with this 3-bedroom, 2-bath, 1,484 square foot bay front home on the Cape across the street from Ocean Haven.  The seller bought the lot in 2014 for $80,000 and built the home in 2017.  It went under contract on Tuesday with a list price of $619,900.

Back down on the south side of the Cape, buyers penned a deal on this recently listed 3-bedroom, 2-bath, 1,232 square foot house listed for $319,000.  As you enter Cape Dunes, it is one of the homes to your right facing Cape San Blas Road. It was built in 2005 and I didn’t locate any relevant sales history in the county records.

For our third contract, we’ll leave the Cape heading east on C-30 to Waters Edge, the first subdivision you come to on your left. Buyers were drawn to this irregularly shaped, quarter acre lot listed for $35,000. The seller bought it in 2002 for $50,000. This neighborhood includes 2 gulf front lots, so all lot owners have deeded gulf access.

Our fourth and final sale takes us back to Indian Pass, this time stopping in at The Reservation, where this 47′ by 350′, 0.37-acre gulf front lot went under contract Wednesday with a list price of $259,900. The sellers bought it in 2003 for $350,000.

And that wraps it up for this week. Glad to see we’re continuing to move inventory at a decent clip. If you’re considering making a move, I’ll be glad to help you. Just call or text me at 850-227-5197 or shoot me an email to sherri@sherridodsworth.com and we’ll get started. Until then, have a terrific week – I really appreciate your taking time to stop by today.

Reminder – If you would like to read this with the links to the various listings, I can only email them to you now with our new MLS which I’ll be glad to do. Just let me know by sending me a request to sherri@sherridodsworth.com and I’ll set you up to receive my blog post with the links each week.

Please follow and like us:
error

Comments Off on Cape San Blas Real Estate Week in. Review – August 10-16, 2019

Aug 10 2019

Cape San Blas Real Estate Week in Review – August 3-9, 2019

Published by under Cape San Blas

  The Cape was noticeably quieter with fewer visitors this week, but luckily our market didn’t seem to notice as we picked up the pace again after such a quiet spell last week, closing two sales and adding seven new contracts. Sellers listed ten new listings, and changed prices on five others.  Our inventory shed three, closing the week at 285, with 207 lots, 73 homes, and five commercial MLS offerings in the Cape San Blas, Indian Pass and C-30 market.  Let’s see what’s moving.

The first of our two sales is a bay-front cutie overlooking Pig Island. I vacationed at this 3-bedroom, 2-bath, 1,296 square foot A-frame back in the early 90’s and had a great time kayaking around the island and scalloping out in the open bay The MLS says it was built in 1995 but I was already living here by then so it was prior to that, I think likely ’91 or ’92. It has been renovated and well maintained. The seller bought it in the summer of 2003 for $315,000, listed it for $499,000 and got exactly full price at closing this week

Curve at the Cape is the first subdivision on your right after you turn right off of Cape San Blas Road. It’s a nicely laid out small gated community of just 11 lots with the dubious honor of having the CBRA boundary bisect it at an angle. Lots on one end of the street are in the CBRA and ineligible for FEMA flood insurance, those on the other end are out of the CBRA and can buy FEMA flood.  Crazy. Anyway, this 60′ wide lot is on the good end, out of CBRA. It went under contract week before last with a list price of $305,000 and sold on Thursday for $260,000. In early 2003 it sold for $410,000.

Kicking things off with our review of this week’s seven new contracts is this 5-bedroom, 4 1/2-bath, 2,595 square foot gulf front home on Jamaica Drive back behind the Trading Post. The seller bought the 52′ lot on which it sets in 2004 for $575,000, and built the house in 2017. It has been a money-making machine as a vacation rental home, with a gross rental income history reportedly over $102,000 annually. 

Our second contract is this newly iisted condo in a second tier quadplex on Antiqua Drive, back behind Pristine Properties. This 3-bedroom, 2-bath, 1,274 square lower level  unit last sold in late 2016 for $240,000. It was built in 1985 and has undergone a major renovation in the wake of Hurricane Michael, emerging with a totally new lead on life with a new roof, all new windows and doors, new decks and stairs and myriad other upgrades. She’s looking great and ready for another 34 years of fun in the sun. Several offers were submitted within hours of it hitting the MLS last Sunday with a $424,900 price tag. If you’re feeling a little deja vu reading this it’s because you read about the unit above it a few weeks ago when it, too, hit the MLS and went under contract within hours.

About a mile further south along Cape San Blas Road our next contract is on this 4-bedroom, 3 1/2-bath, 2,300 square foot gulf front spec house in Cape Isle Preserve. The owner was very nearly finished with construction and had it listed for $993,600 last fall when Michael hit which slowed progress a bit. After the storm they regrouped and repaired and raised that list price to $1,095,000 which attracted a buyer for them this week. 

Our fourth contract is down on the south side of the Cape on Loggerhead Lane in the gated community of  Jubilation.  Buyers were attracted to this 3-bedroom, 3-bath, 2,488 square foot, newly built home completed in 2018 and listed for $529,900. The builder who sold it bought the lot in April of last year for $65,000, a far cry from the $450,000 it sold for in 2004. This one may have you thinking you’ve seen this some place before as well which may be because we saw it here back in March when it was briefly under contract but came back on the market again. Hopefully this time she will make it all the way down the aisle.

We’re back out on C-30 this time heading towards town, stopping at this 75′ by 215′ bay view lot listed for $59,500. This once lovely wooded stretch of highway dotted with nice homes tucked back off the road among the trees is now proliferating with RVs and pole barns since the county abandoned its RV ordinance along the corridor.

We’ll turn around and head east on C-30 on over to Money Bayou to this 35′ by 120′, 0.07 second tier lot listed for $89,900. The owner apparently had a change of heart on this FEMA eligible lot having only purchased it last December for $71,000.

We’ll wrap things up today out on Indian Pass in the Indian Pass Beach neighborhood where buyers had their offer accepted on this 75′ wide gulf from lot listed for $299,000. Starting to see a bit of speculation rearing its head in the marketplace again as the sellers bought the lot  on June 6 for $139,000 and put it on the market four days later on June 10 with a list price of $329,000. They lowered that in late July to $299,000 and now have it under contract.  DEP is going to have to approve permitting for the property so it will be interesting to see how this sale goes.

And that’s a wrap. There’s plenty going on, with strong buyer demand. If you’re thinking of buying or selling, we need to talk. Call or text me at 850-227-5197 or write me at sherri@sherridodsworth.com and we’ll get started.  Keep cool, have a great week, and thanks so much for taking a few minutes to stop by today.

Reminder – If you would like to read this with the links to the various listings, I can only email them to you now with our new MLS which I’ll be glad to do. Just let me know by sending me a request to sherri@sherridodsworth.com and I’ll set you up to receive my blog post with the links each week.

Please follow and like us:
error

Comments Off on Cape San Blas Real Estate Week in Review – August 3-9, 2019

Aug 03 2019

Cape San Blas Real Estate Week in Review – July 27 -August 2, 2019

Published by under Cape San Blas

 As July fades into August, the sweltering summer heat hit its stride this week as clear sunny days sizzled up around the 90s. Apparently it was too hot for folks to pull themselves away from the cool, emerald green gulf waters long enough to think about doing real estate as only three parties made it to the closing table and one lone sole penned a new contract.  A tip of the hat to our company, Coastal Realty Group, for being involved in all three of those sales.  Sellers were apparently ready to beat feet from the heat as they signed 17 new listing agreements and adjusted prices on ten others. Our inventory dropped by eight, closing the week at 288, with 73 houses, 210 lots, and five commercial MLS properties in the Cape San Blas, Indian Pass and C-30 market listed for sale.

The first of our three sales is a gulf front vacation rental home in Seagrass that went under contract in late May sporting a $1,998,999 price tag. This behemoth beauty has 7 bedrooms (4 of which are master suites), 7 full baths, 2 half baths and 4,591 square feet of living space. Extras include an elevator and heated in-ground pool overlooking the gulf. Can you say party at the beach with all your favorite friends???? A lot of folks do just that as the gross rental income on this party palace was $210,000 in 2018.  The savvy buyer who recognized this was a gold mine picked up the keys at closing on Thursday for $1.9M.

Our second sale was this recently listed condo in a second tier quadplex on Antiqua Drive, back behind Pristine Properties. This 2-bedroom, 2-bath, 1300 square foot top floor unit last sold in 2015 for $260,000. It was built in 1985 and has undergone a major renovation in the wake of Hurricane Michael, emerging with a totally new lease on life with a new roof, all new windows and doors, new decks and stairs and myriad other upgrades. She’s looking great and totally ready for another 34 years of fun in the sun. Several offers were submitted within hours of it hitting the MLS on July 14 with a $409,000 price tag, and on Wednesday the sellers handed over the keys to the new owners who won the bid with an As Is full list cash offer of $409,000.

Our third and final sale is a bay front home located just a few hundred feet north of Scallop Cove. In mid-June, the sellers accepted an offer on their 3-bedroom, 3-bath, 2,367 square foot bay front beauty. They bought the home the year it was built in 2004 for $600,000, had it listed for $724,900, sold it on Thursday for $610,000 cash.  It’s situated on 50′ of waterfront and includes a dock shared with the adjacent property owner. The home also fronts Cape San Blas Road.

Our one and only new contract is down on the south side of the Cape in Jubilation where buyers negotiated a deal on this 63′ by 104′, 0.15-acre first tier lot listed for a very attractive $119,000.  Jubilation is a gated community with handsome homes, a gulf front pool and walkover to the beach. The seller bought this at the height of the market in 2004 for $525,000.

That does it for this week. If you’re interested in seeing what other great real estate opportunities may be out there waiting for you, please text or call me at 850-227-5197, or shoot me an email to sherri@sherridodsworth.com and I’ll be glad to help you. Until then, have a terrific week, and thanks so much for taking time to stop by today.

Reminder – If you would like to read this with the links to the various listings, I can only email them to you now with our new MLS which I’ll be glad to do. Just let me know by sending me a request to sherri@sherridodsworth.com and I’ll set you up to receive my blog post with the links each week.

Please follow and like us:
error

Comments Off on Cape San Blas Real Estate Week in Review – July 27 -August 2, 2019