About Gulf County, FL

This was the last week before the official launch of the 2009 Holiday Season but it's been so busy around here apparently a lot of people have already started doing their Christmas shopping, and coastal real estate looks as if it is high on Santa's gift list. We had three sales and five new contracts, four new listings, a dozen holiday mark-downs, and three expired unsold. Happily, our inventory went down another four to a total of 393 active MLS listings in the Cape San Blas, Indian Pass and C-30 Corridor market, with 140 homes and 253 lots.

The first of our three sales was this 2,000 square foot, 3-bedroom, 2-bath home on the Cape just north of Scallop Cove with great bay and gulf views from throughout. This home used to be located on the gulf where Turtle Dunes Subdivision is now and was moved to its present location a couple of years ago. It's a solid building with a good design, especially with the 360′ wrap-around porches on both levels providing panoramic views of the bay and gulf. Originally listed in November 2007 for $429,000 it was down to $299,900 when it went under contract and on Monday it closed for $282,000, not far above the county's assessed value of $244,447.

Our second sale was this cozy little cottage in Cape Dunes on the south side of the Cape with a good bay view and gulf access. It's a 3-bedroom, 2-bath, 1,259 square foot home with a custom interior by Tiffins built in 2001 with a current list price of $229,000, down from its original list price of $494,000 in mid-2005. It last sold in June 2002 for $200,000, is currently assessed for $191,286, and sold on Wednesday real close to that value, for $194,000.

Let's head out onto C-30 for our third sale where this handsome country cottage nestled among the pines with a list price of $215,000 sold for $186,463. That's an interesting figure and I'd love to know how the haggling went over this deal to arrive at such a precise dollar amount. This custom built 3-bedroom, 2-bath, 1,152 square foot home last sold in early 2003 for $220,000. Those owners put it back on the market in February 2005 for $465,000; the county currently thinks it's worth $185,815, once again impressively close to the actual sale price.

Now let's see what's in our grab bag of five new contracts, beginning with a 5-bedroom, 5-bath, 2,642 square foot gulf front home in Tucker Shores just north of the rocks at Stumphole. This home was built in 2003 and sold in January 2004 for $899,900, and was put back on the market in 17 months later for $1.595 M. 77% appreciation in just 17 months. Now that's optimism. They dropped the $1M from the list price and went under contract on Tuesday as a short sale with a list price of $595,000.

Our second contract is also a water-front short sale, this one a bay front home with dock located just a couple hundred feet north of Scallop Cove. This is a lovely home with awesome views throughout. It's 4-bedroom, 4-bath, 2,525 square foot with a list price of $499,900, down from its original list of $699,900, but still well above its current assessed value of $416,941.

Next up is a new contract on a pre-construction package for a 5-bedroom, 4 1/2-bath 3,300 square foot gulf front home almost directly across the street from the bay front home we just looked at. It's listed for $825,000.

Our next two contracts are both lots, one on the Cape and one along the C-30 Corridor near Indian Pass. We'll start with the Cape lot, which is a corner lot located on Cape San Blas Road in Paradise Bay not far from Rish Park. It's a decent size, 96′ by 200′, and is listed for $74,000, well above the county's assessed value of $56,000. That's a far cry from the $230,000 it fetched in August 2006. The sale prior to that was for $17,000 in 2000. What a wild ride.

Our fifth and final new contract is on a pretty gulf first tier, quarter acre lot in the Cottages at Indian Summer subdivision. This is a short sale at its list price of $69,900, having last sold in April 2004 for $375,000. The county's going to have to do some catching up here as they still have it assessed for $126,000.

Only four new listings this week but there's one I like enough to make it my Pick of the Week for New Listings. It's a bay view first tier lot in my neighborhood, Cape Breezes, about a mile south of the state park entrance. This property will have awesome views when you build. It's good size, 6-tenths of an acre, and measures 180′ by 146′. All properties in Cape Breezes include deeded bay and gulf access, and the Cape's bike path runs right through it, as the community spans from gulf to bay. This property sold in July 2004 for $275,000 and comes back on the market this week as a short sale with a list price of $115,000, well below its $126,500 assessment.

I just didn't get real excited over any of our dozen price changes so no Pick of the Week today. As you can see, things have definitely picked up in the past two months so maybe we've turned the corner. Our home sales alone are up over 22% year-to-date over last year. If you're thinking of buying or selling I'd love to help. My toll free number is 877-512-9366 or you can always reach me by email, sherri@sherridodsworth.com. I appreciate your stopping by today and hope to hear from you.

It's been a week of weather extremes with over 5 inches of rain and high winds from tropical storm Ida on Monday and Tuesday, to travel-poster gorgeous sunshine and blue skies by week's end. Ida didn't scare away our buyers, though, and we had a good week with another sale, five new contracts, (all of which are on the Cape), only one new listing, and eleven price changes. I'm happy to see our inventory returning to inching back downward again after a brief period of growth, and we end the week down by four to 398 total active MLS listings in the Cape San Blas, Indian Pass and C-30 Corridor market, with 144 homes and 254 lots.

Our solo sale was this 3-bedroom, 3-bath, 1,664 square foot gulf front house at Cape San Blas on Cayman Lane just a little north of Scallop Cove. This home last sold in mid-2004 for $850,000, and was put back on the market less than a year later for $1.395M, a nice 64% increase. Over half a million dollars appreciation in one year. Now there's optimism for you. No one else thought that was such a good deal, though, (buyers are funny that way) and it has remained on the market ever since, all the way through to a final foreclosure. The bank had it listed $470,000, right about at the county's assessed value of $454,490, and last Friday it sold for $417,000 cash. This listing was in the Bay County MLS and the sales info was posted in ours for comp purposes after closing.

Now let's move on to our five new contracts, beginning with this first tier 3-bedroom, 2-bath, 1,058 square foot home in Peninsula Estates, a short sale with a list price of $299,000. I'm not finding in the county records an accurate record of its previous sale price, but its assessed value is $162,265.

Next up is a cottage on the south side of the Cape in the Cape Dunes community, and unlike the majority of our recent contracts, this isn't a short sale or forecosure. It's a 3-bedroom, 2-bath bay view home with deeded gulf acess which last sold in 2002 for $200,000. It has been on the market since late 2005, starting with a list price of $494,000, and goes under contract with a more modest list price of $229,000. The county has it assessed for $191,286. This is a cash offer scheduled to close by Wednesday so we won't have to wait long to see what it sells for.

Our third contract, also on the Cape, is a lovely 3-bedroom, 2 1/2 bath, 1,560 square foot gulf front home on Clipper Way in Feather Sound, not far from The Tradin' Post. Built in 1998, this home first sold that year for $250,000, and was then re-sold in 2004 for $775,000. It's currently listed for $480,000, which is pretty much in line with the county's assessment of $455,762. As with our other two houses, there are contingencies to be met so no known closing date yet.

Our fourth contract is on a bank-owned road front lot in Cape Breezes with gulf and bay views, and deeded gulf and bay access. This was a recent pick of the week when it showed up in the MLS with a $64,900 price tag. Unbelievable. Cape Breezes is a nice subdivision (I'm prejudiced, of course, because I live there) with a number of year-round residents, unusual for the Cape. This particular property is a good size "X" zone lot. Anxious to see what it goes for and we'll know real soon as it's scheduled to close by the 3rd of December according to the MLS.

Our fifth and final new contract takes us back to the south side of the Cape to this interior lot on Turnstone in San Blas Plantation. This lot is also listed well under $100,000 with a modest price tag of only $69,000, about half the county's assessed value of $150,000. It's a short sale at that price, though, having last sold in October 2005 for $449,000. Prior to that it had been sold the previous year in September for $350,000. That was back during that fleeting period when no one thought twice about 28% annual appreciation as possibly becoming unsustainable at some point.

Since we only have one new listing this week, it hardly seems right to award a New Listing Pick of the Week, even though it's an attractive lot, so we'll move on to our eleven price changes.

Isn't that a gorgeous sunset? This is the view from my Price Change Pick of the Week, a 50′ gulf front lot on Clipper way at Cape San Blas which goes from an already low $260,000 to a hard-to-resist list of $220,000. Sweet. It's located between two very nice homes.

It's not listed as a short sale even though it last sold in December 2004 for $795,000. Even Kes over at the Property Appraiser's office agrees that $220,000 is a good deal - he thinks it should fetch $300,000.

That's a wrap for this week. If you're interested in taking a look at some of these listings closer, give me a call at 850-227-5197 or send me an email to Sheri@SherriDodsworth.com . If you already own property and want to talk about what it might bring in the current market I'd love to hear from you. Whatever your plans, I hope you have a great week and, as always, thanks so much for stopping by today.

I think I may have figured out what has sparked this recent surge in interest in our market. I had two calls recently from folks who say they aren't real familiar with the Forgotten Coast but they've been receiving postcards regarding auctions and when they've gone online to check out the area they're intrigued by the properties they're seeing and the prices they're going for. As a result, once again there's been a lot of activity this week, with one sale, five new contracts, two new listings, and ten price changes. Our inventory took a nice little dip, too, ending the week down fourteen at 402, with 146 homes and 256 lots listed for sale in the MLS between Cape San Blas, Indian Pass and the C-30 Corridor market. (NOTE: The MLS has decided to lock me out this afternoon for some reason, so when it decides I can play again, I'll go in and post the links for you.)

Our solo sale is this bank-owned, 4-bedroom, 3 1/2 bath, 1,723 square foot gulf front Cape San Blas home located about a quarter mile north of Stumphole, next door to the Sunrise Sunset townhouses. The property was listed for $445,625, is assessed by the county at $377,740, and sold on Monday for $423,250. This is a home which has greatly benefited from the beach restoration program as prior to that it had suffered a fair amount of storm damage during the tropical storms we had summer before last when the surf washed up under the foundation and eroded under the house. It last sold in early 2005 for $989,000.

On to our five new contracts. Let's start at the north end of the Cape and work our way southward and westward from there. First up is the bank-owned Sunset Pointe interior lot I told you about just a couple weeks ago when the bank lowered its price to a ja- dropping $40,900. Even the county thinks this is low, as they have it at $78,500. What has gotten my attention is that it took this long to finally get a contract on it. This one last sold in August 2005 for $440,000, so we're talking resale of less than ten cents on the dollar.

Our second new contract is in the adjacent subdivision up there by the park in Park Pointe, where yet another bank-owned, interior lot also assessed at $78,500 caught someone's eye, even though it is listed considerably higher at $120,000. This is an auction contract so I'm real curious to see what it actually goes for when it closes.

Our third new contract is also bank-owned, a spec home in Cape Breezes about a mile south of the state park which also went under contract on the auction block on Wednesday. This photo shows how nice the view is from the main living area on the second level. This is a 2-bedroom, 2 1/2 bath, 1,644 square foot home on Cape San Blas Road with deeded gulf and bay access.

For our fourth contract we finally get to head off the Cape and on over to Indian Pass where this 100′ by 1,089′ , 2 1/2 acre gulf front lot went under contract with a list price of $330,000, just half its assessed value of $601,000. This is the only one of our five contracts this week which isn't bank-owned. The sellers have had this parcel since 1998 when they bought it for $200,000 so hopefully they'll make a nice little profit at closing, something we haven't seen much of lately as we've been working our way through this backlog of foreclosures and short sales.

Our fifth and final new contract is also on Indian Pass, and it's a bank-owned first tier lot on the auction block with a $179,900 price tag, just a little below its assessed value of $360,000 and way below its sale price of $500,000 in December 2004.

Nothing eye-popping in our two new listings, but here's a great deal among our ten new price tags.

Here's a first tier lot in Ovation on the Cape reduced from an already attractive list of $225,000 to a tantalizing $199,000. Even though this last sold in September 2005 this is not listed as a short sale so you would be able to close pretty quickly. Even sweeter that it's "X" zone as well.

That about does it for this week's review. Even thought here's been so much going on this week, I've had a hard time focusing on real estate as my all-time favorite cat-friend of 18 years was claimed by cancer on Monday afternoon. I'm very grateful to all the people I've been working with, customers, clients, and colleagues who have been so patient, supportive, and understanding while I've taken a few days off to deal with this. I'm blessed to work with such a great team.

If you're interested in finding out more about properties for sale, or if you're considering selling, pleae give me a call on my cell at 850-227-5197 or send me an email to sherri@sherridodsworth.com . I love hearing from my readers and especially enjoy working with them and helping them find their perfect property. Have a great week and hope to hear from you soon. Thanks for stopping by.

"There's something happening here, what it is ain't exactly clear . . . " I've been hearing that Buffalo Springfield line running through my head a lot this week as I and my colleagues try to figure out what has sparked this sudden burst of activity. Everyone I've talked to the past few days is wondering the same thing.

Good news: our inventory shrank a bit since last Saturday, down by eight ending at 416, with 152 houses and 264 lots in the MLS in the Cape San Blas, Indian Pass and C-30 Corridor markets. It's been a banner week for sales, with five people going to closing, and we managed to write up two more new contracts. In other activity, there were nine new listings and also nine new price tags.

Our first sale is a relatively new 4-bedroom, 4 1/2 bath 2,657 square foot home built in 2008 at Turtle Dunes on the Cape. It was originally listed back in June for $1.32M, but more recently reduced to $899,999, and on Thursday it sold for $790,000. That's still more than the county thinks it's worth; they have it assessed at $506,999.

Our second sale on the Cape was this gulf and bay view lot on Cape San Blas Road in the Ocean Haven subdivision which was listed for $119,900. This first came on the market in June 2005 with a $649,000 price tag, just a little above the county's current assessment of $112,000. This was a foreclosed property which sold on Friday for $110,000.

We're leaving the Cape and heading west along the C-30 Corridor over to the Gulf Pines neighborhood where this 100′ by 257′ first tier lot with a list price of $219,000 sold on Tuesday for an amazing $165,000 with the buyer paying all the closing costs except the broker's commission. Kes wasn't far off on this one, either, having it assessed at $157,500. This property last sold in late 2003 for $300,000 and was put back on the market in early 2004 for $375,000.

A little further west along the C-30 Corridor over in Money Bayou the MLS just recorded this For Sale By Owner (FSBO) sale on the 26th of this 3-bedroom, 3-bath, 2,032 square foot first tier home which was pre-foreclosure. The county has it assessed at $444,157 but the seller opted to avoid foreclosure and instead accept $364,113 to be free of it. Talk about a comp killer.

Our fifth and final sale is this lovely gulf front lot over on Indian Pass measuring 61′ by 460′ not listed as a short sale but most attractively priced at $269,000 and which went to closing on Thursday for $230,000. This parcel was first listed in April 2007 for $1.1M, again just a smidgen above the county's current assessed value of $360,000.

Both our new contracts were on homes, the first being this first tier, 3-bedroom, 3 1/2 bath 1724 square foot home built in 2004 and currently listed for $411,000, well below the county's assessment of $472,495. This last sold in August 2004 for $699,000, and was put on the market four years later for a more modest $599,900. This was not listed as a short sale. There are contingencies to be met so no known closing date yet.

Our second new contract is on a forclosed home in Seagrass back over on the Cape. It's a 3-bedroom, 2-bath, 1,882 square foot gulf view home in the Seagrass neighborhood listed for $550,000, a little below it's original list price back in early 2006 of $1.25M. The county has it at $437,101 (wonder what the $1 is for???) so I'm curious to see what it finally goes for.

I choose a Cape San Blas lot as my Pick of the Week from our nine new listings. It's a foreclosed lot in Cape Breezes for only $64,900, a little more than half the county's assessment of $100,800. I thought those days were long gone. I've been in both of the homes on either side of this lot and they have terrific gulf and bay views. Price includes deeded gulf and bay access, too. This one should go pretty quickly.

Looking through our nine price changes this lagoon front lot caught my eye and picks up my Price Change Pick of the Week award. This great view lot on Indian Pass Lagoon along C-30 is now only $62,000, down from $67,000, way below the county's assessed value of $90,000. It measures 100′ by 599′ so it's a good size parcel.

That wraps it up for this week. As you can see, there are some terrific values out there so if you'd like to take advantage of this market get in touch with me either by calling me on my cell at 850-227-5197 or shooting me an email to sherri@sherridodsworth.com . In the meantime, have a great week and hope to hear from you soon. Thanks for stopping by today.

(My 5-year-old+ laptop finally called it quits and I've been switching over to a new computer system since Friday - most of my programs and files are now playing together nicely but still have a few glitches to work out. The MLS doesn't want to give me the links I usually include which is what I've been wrestling with and why this update is appearing on Sunday rather than in its usual Saturday time slot. In the interest of putting this post to bed I'm giving up on the links for now and will try to have things ironed out by next Saturday.)

Not much going on this week and the continuing growth in the inventory reflects that, increasing by eight with 424 MLS listings in the Cape San Blas, Indian Pass and C-30 Corridor market, 153 houses and 271 lots. Nobody went to closing, but we manaaged three new contracts, nine new listings and twelve price changes.

Our first contract is on this serious fixer upper on the Cape at Cape Sands Landing. It's one side of a duplex and needs to be completely renovated inside and out to be habitable. The place went under contract almost immediately when it enterd the MLS this week sporting a list price of only $75,000. One contractor estimates it will take about $110,000 to bring it back. There are contingencies so no closing date noted.

Our second contract is also on the Cape, yet another lot at Piney Woods Beach located on the south side of the Cape. There have been a number of sales in this nice gulf front subdivision this year. This is a bank-owned property foreclosed on in December 2007. When it was last listed in 2006 it sported a $425,000 price tag, but when the bank put it on the market last year they started at $229,000. The county has it assessed for $100,800 and the bank dropped it below that last month to $95,000 and now they have a contract. Interesting that both of our contracts on the Cape this week were listed below $100,000. It's been quite a few years since I've seen that.

We're heading over along the C-30 Corridor to Gulf Pines for our third and final new contract, which is on a first tier lot listed for $219,000. It's a good size lot, a little over half an acre, measuring 100′ by 257′ and has fantastic gulf views. It last sold in October 2003 for $300K and went back on the market in early ‘07 for $375,000. The county thinks it's worth $157,500, and it's under contract with a list price of $219,000, scheduled to close on the 26th, which sounds like somebody just whipped out their checkbook and stroked a check. I'm curious to see just how loudly cash in hand spoke on this one.

No trouble selecting a Pick of the Week from our nine new listings. I love cottage style so this cottage at Barrier Dunes is talking to me, especially at $309,000. Here's the MLS description:

Charming 3BR/3BA cottage in exclusive Barrier Dunes, a beachside gated community on Cape San Blas. Located on the pond, this home has tile flooring in the living, dining and kitchen area, tropical decor, fireplace, flat screen television, new appliances and separate laundry. There is also a bedroom on this level that has its own entrance onto the spacious deck overlooking the pond. There is also a full bath on this level. On the second level is the master bedroom with a private bath and french doors leading onto the screened deck overlooking the pond. The master is large and has a king bed, two chest of drawers, nightstands and private full bath. The second bedroom also has french doors leading out onto the screen deck. The spacious deck that surrounds 3/4 of the house provides lots of privacy. This is truly a must see!

My Price Change Pick of the Week is a no-brainer, too - how can you go wrong with this gorgeous Cape San Blas first tier lot at prestigious Ovation slashed from $552,000 down to $249,000? That's below the assessed value of $252,000, and this is a lot which last sold in August 2005 for $775,000. Oh, and it's X zone, too.

That does it for this week. Hopefully we'll be back on track next week and I'll get this out on time and with more contracts and some sales to tell you about. If you're interested in finding out more about these or other properties please email me at Sherri@SherriDodsworth.com or call me at 850-227-5197. Have a great week and thanks so much for checking back today.