Cape San Blas, FL

Here's what I believe is a first in the two and a half years I've beeen doing this blog: we have a week with no closings and no new contracts. I guess everyone's taking a breather after all the activity of the past few months. All the action was with listings, with thirteen new offerings and seven price changes. We managed to whittle the inventory a bit, reducing it by four down to 351, with 135 homes and 216 lots listed for sale in the MLS in the Cape San Blas, Indian Pass and C-30 market.

I'm not seeing anything among our thirteen new listings with that perfect combination of high quality and low pricing to warrant Pick of the Week status, but one of the seven price changes did catch my eye.

I'm liking this gulf front home in Gulf Pines which comes in at $499,000 this week, down from an already low $519,000, and temptingly below the county's assessment of $538,049. It's a 2-bedroom, 2-bath, 1,296 square foot beach bungalow built in 1984, situated on a 75′ wide gulf front lot in a community eligible for federal flood insurance. What's not to like? I could get used to living with a view like this . . .

You can't get much more like living in a Florida postcard than that.

This home is move-in ready - just pick up your keys at closing and head to the beach for vacation.

That'll do it for today. I'm looking for new listings so if you're thinking of selling, let's talk. My number is 850-227-5197 or send me an email to 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.

It's the end of January and things slowed down a little bit in our real estate market this week compared to what we've been seeing the past couple months, but we still have activity. We managed to close two more sales this week, and write one new contract. Lots of apparent optimism with sellers as we added twleve new listings and thirteen new price tags, bringing our week end total of MLS listing in the Cape San Blas, Indian Pass and C-30 Market to 355, up three from last week.

Both our sales were cottages, one on the Cape, the other on C-30.

Let's start on the Cape, where this 520 square foot, 2-bedroom, 1-bath gulf view cottage nestled behind the Tradin' Post listed for $147,000 sold for $127,000. This little beach bungalow last sold in 2002 for $135,000 and is currently assessed at $114,427.

Good things truly do come in small packages as our second sale over on C-30 proves. This 900 square foot, 2-bedroom, 2 bath first tier beach cottage with awesome views of the gulf attracted some happy new owners this week with a fetching price tag of just $299,000. They offered $270,000 and off to closing they went.

Our one new contract is on a first tier lot at the Cottages at Indian Summer over on C-30 towards Indian Pass. This quarter acre lot measures 50′ by 200′, and goes under contract with a list price of just $100,000, below the county's assessed value of $126,000, and off just a smidgen from its original list of $550,000 back in mid-2005.

There may have been twelve new listings but I don't see anything among them worthy of Pick of the Week status. Not so with our thirteen new price tags however, where I have not just one but two Price Change Picks of the Week, both lots.

First up is this gorgeous gulf front lot over in Money Bayou in the Sweetwater Shores subdivision which this week goes from $399,000 to just $309,00. This lot measures roughly 60′ by 480′ , or a little over half an acre. Add to that the availablity of FEMA flood insurance when you build and there's a lot to like about this parcel. It last sold in 1999 for $120,000, and the county currently has it valued at an even $300,000.

My second pick is a first tier bay view lot on Cape San Blas just a couple hundred feet south of Scallop Cove which includes shared use of a very well built dock. This lot goes from $125,000 to just $99,000, well below the assessed value of $124,900. I've walked this property a number of times and it is high and dry, good elevation, X flood zone and awesome views. There is deeded bay access. Someone is going to have a lovely homesite with this parcel.

Well, that's a wrap for this week. I'm starting to list properties in gearing up for spring visitors, so if you're considering selling please give me a call. My number is 850-227-5197 or you can always reach me by email at sherri@sherridodsworth.com. And if you're interested in learning more about properties we've looked at here today, let me know. I hope wherever you are you have a pleasant, warm and dry weekend. Thanks so much for stopping

I had a full schedule this week but on Tuesday the flu showed up unannounced, knocked me down and took over completely until Saturday, by which time I had a slew of burning items in my To Do List all clamoring for first place. And so this Sunday update. It was a busy week yet again, with three sales and two new contracts, eight new listings and eleven price changes. All this activity shifts our inventory only slightly northward up four from last week to 352, with 132 homes and 220 lots listed for sale in the MLS in the Cape San Blas, Indian Pass and C-30 Corridor Market. Lots to cover today so let's get started.

The first of our three sales is this interior home on the Cape up in Peninsula Estates about half a mile south of the state park. It's a 1,274 square foot, 2 bedroom, 2 bathroom home with a bit of a bay view from the deck, but also has deeded bay and gulf access. The owners celebrated the new millenium by purchasing the lot alone in Y2K for $45,000. They built and enjoyed the home for a number of years as a family get away and rental income-producing property, but by late 2005 decided to see what they might be able to cash it in for and listed it for $579,000. They tweaked the price until it finally went under contract with a list of $299,000 and accepted a bit more modest $230,ooo for it this week, which is better than the $187,621 the county property assessor thought they might get for it.

Next up is this first tier lot on the south side of the Cape at Piney Woods Beach which sold on Monday for $67,000, very close to the list of $69,000, but nowhere near the assessed value of $100,800. I didn't find any recorded data on prior sales. This lies on a nice rise in this subdivision so it has good elevation. I'll be interested in seeing how Kes handles this comp for first tier asssessments on the south side.

Our third and final sale is a gulf front lot over on Indian Pass in the gated community of Indian Summer. This 62′ by 217′ lot last sold in early 2002 for $380,000, and three years later the owners thought they'd try the market and listed it for $949,000. It's in the CBRA zone so no FEMA flood is available, but the CBRA line runs through this subdivision so lots on one end of the street can get federal flood, those on the other end can't. Makes sense to some cubicle-bound bureaucrat in D.C. Anyway, needless to say it never sold until the list finally got down to $295,000, and this week they took $229,000 for it. Kes thought it was worth $408,000.

On to our two new contracts, both of which bank-owned properties on the south side of the Cape.

Looks like I'm getting some new neighbors in the building next door to our office, only question is will it be a family or a company, or both as it's zoned mixed commercial-residential. This bank-owned building which used to house a vacation rental company was recently listed for $395,000 and didn't take long to find a taker. It's a lot of building, open and spacious inside, with 3,894 square feet, 5 bedrooms, 3 1/2 baths, and cavernous, windowless bonus rooms enclosed on the ground level for those with a fondness for Bunker Style. No contingencies and it's projected to close at the end of February. The county will need to do some serious readjusting downward on this one as they have it valued at $628,234.

Our other new contract is just a few blocks further down the street, in Boardwalk, where this bank-owned interior lot with a list price of $94,900 attracted a buyer. With the spate of recent sales of lots in nearby Piney Woods Beach, including today's first tier at $67,000, I'm curious to see what the bank accepts for this one. This has a major ouch factor having last sold in February 2006 for $392,500. The county's generous in its estimation, with a valuation of $126,000.

No problem selecting a Pick of the Week from our new listings - I just listed this no-doubt-about-it-you're-at-the-beach 1,073 square foot, 2-bedroom, 2-bath, first tier home with unobstructed gulf views. This property has just 10′ of gulf front with the adjacent property wrapping in front and owning the other frontage. Bottom line is - amazing views. The open living area is surrounded on three sides with windows opening onto this vista. Here's the view looking south . . .

. . . and to the north.

There's a large open deck which spans the front of the home overlooking the beach, and on the south side is a wonderful enclosed porch with a Florida room feel for when you want that outside feeling without actually being exposed to the elements.

If you've been looking for a picture perfect view of the beach at an attractive price, this is it at only $425,000.

If you're wishing you could snap up a gulf front lot for something like the buyer in Indian Pass did this week my Price Change Pick of the Week is your answer. Here's a 50′ wide gulf front parcel also at Indian Pass which becomes this week's blue light special by tossing the $375,000 price tag and replacing it with one for $299,000. That's certainly more like it. If you're into history, this parcel last sold in mid ‘03 for $410,000, and went back on the market at the dawn of ‘06 with a trial balloon price of $959,000. That obivously didn't float and here we are today. And in case you're wondering, no, this is not a short sale listing and it's not bank owned. Sweet.

Well, we're in later than ususal but I hope it's been worth the wait. I appreciate your checking back in. If you're interested in finding out more about any of these properties or talking about selling, give me a call and let's talk. My cell is 850-227-5197 or shoot me an email to sherri@sherridodsworth.com . I love hearing from my readers and I'm getting to know so many of you. Enjoy the rest of your weekend.

We're finally thawing out after two+ weeks of frigid air. That's the good news. The bad news is the rain is back. Oh, well, I'd rather be soggy than cold. Interest in real estate hasn't dried up as we had another strong week, closing two more sales and writing three new contracts. It's all good as our inventory also took a 2 1/2% dip, closing down 9 and 348, with 127 houses and 221 lots listed in the MLS for sale in the Cape San Blas, IndianPass and C-30 market. Only five new listings and seven price changes. Let's see what caught buyer's eyes this week.

Lots of interest in lots - both our sales and two of our contracts, and it's all about waterfront, any kind, any place. This first one is a stunner - it's a bank-owned gulf front parcel on the Cape near Stumphole which was listed for $220,000. Sit down for this one. It sold on Thursday for $75,000. That's no typo. $75,000. This lot last sold in late 2004 for $675,000 so one again we're basically talking another ten cents on the dollar transaction. Kes never saw this one coming, either, as the ounty had it assessed at $304,440. I'm really interested to see how appraisers factor this one.

Our second sale is no where near as dramatic; it's a 100′ wide bayfront lot a little over 2 acres in all which was listed as a short sale for $349,000. The bank approved $350,000 and they went to closing. The history on this one is illustrative of what happened so many times here during the boom. It last sold in February 2005 for $780,000, and the seller put it back on the market seven months later for $1.495M. The county has this one at a modest $220,000.

The first of our three new contracts is on this lovely gulf front home on the Cape at Turtle Dunes about half a mile north of Scallop Cove. It's a spacious 3,120 quare foot, 4-bedroom, 4 1/2 bath spec home built just last year. The list price on this one is $899,900 making it one of the few gulf front homes out here still hanging around that price neighborhood so it will be interesting to see what it eventually goes for. There are contingencies to be met so no known projected closing date.

Our second contract is another gulf front, this time over on Chickasaw Lane at Indian Summer where this 68′ by 217′ third acre lot went under contract with a list price of $295,000 and an assessed value of $408,000. I'm a little surprised that assessment is still that high with some of the low prices we've seen recorded on gulf front sales in this vicinity in the past year.

I told you it was all waterfront this week - our third and final contract is on this 58′ wide lagoon front lot with a dock on Indian Pass up near the boat launch. It last sold in Aril 2007 for $385,000 and goes under contract with a list price of $249,9000, which is impressivley closed to the county's assessed value of $229,112.

I'm staying at Indian Pass for my New Listing Pick of the week. I like this gulf view home on Palm Avenue with a debut price tag of only $489,000. It's a 1,404 square foot, 4-bedroom, 2 1/2 bath beach house built in 1991, AND it has FEMA flood insurance. Maybe this next shot from the front deck helps explain why this caught my eye.

Isn't that an awesome view? That's what it's all about.

I'm keeping it all waterfront but heading back to the Cape for my Price Change Pick of the Week. I love this bay front cottage at Scallop Cove even more now that the seller has dropped the price from $249,000 to $199,000 AND he'll do seller financing. These cottages were totally renovated in 2003 and have a loyal following of fishing and scalloping loving vacationers. You can bring your boat down for the week, launch it up at the park, and then tie it up to the dock in front of Scallop Cove and have a blast. Here's the view from the front deck.

Not too shabby.

It's a buyer's market and there are great opporutnities to be had, so give me a call if you're ready to take a look. Call me on my cell at 850-227-5197 or shoot me an email to sherri@sherridodsworth.comand we'll see what we can find for you. Until then, have a terrific week and thanks so much for stopping by.

Like most of the country, Florida's Forgotten Coast is freezing this morning, 28 degrees at day break, and there were large patches of ice on my car port when I left for the office. It may be freezing outside but our real estate market continues to sizzle, with two sales, four new contracts, three new listings and six price changes this week. We end the week with our total inventoryof MLS listings in the Cape San Blas, Indian Pass, C-30 market at 357 (128 houses and 229 lots).

Both of our sales were bank-owned first tier lots at Ocean Haven on the Cape - somebody's year started off on a bright note as they picked these up for only $130,000 each, despite their list prices of $169,000 and assessed values of $181,500. There are good views of the gulf from these high and dry properties, and they're in the coveted X zone. Not a bad size, either, measuring 65′ by 215′ or roughly a third of an acre each. These are lots the developer of Ocean Haven was unable to sell, so there is no pertinent previous sales data.

Our new contracts were on two houses and two lots. Let's start with the houses.

First up is this gulf view townhouse at Barrier Dunes which goes under contract with a list price of $287,500. It's a 3-bedroom, 3 1/2 bath, 1,845 square foot home built in 1985 which the sellers purchased in 1999 for $150,000. They put it on the market last May with an asking price of $320,000. Their current list price is closer in fact to what the county has it valued at, which is $276,945.

Our second contract is one we've seen here before - it's a 2-bedroom, 2 1/2 bath, 900 square foot Key-West style house on a first tier lot in Money Bayou, listed for $315,000. The views from this home are outstanding. It was built in 2002, and first debuted in the MLS with a $675,000 price tag. The county seems to think that tag should read something more like $205,736. We shall see.

Our next two contracts are on Cape San Blas lots, one gulf front, one bay view.

The gulf front lot is a bank owned 50′ wide property south of Scallop Cove last sold in late 2004 for $675,000 and currently listed for $220,000, well below the county's assessment of $304,440. The buyer made a cash offer with no contingencies and the deal is scheduled to close by Monday the 11th.

Our fourth and final contract is on a half-acre bay view lot in the Cape Breezes subdivision located a mile south of the state park entrance. The seller bought it in mid-2004 for $275,000 and listed it in 2007 for $499,000. It's currently listed as a short sale at $115,000, just a smidgen below the county's assessment of $126,500.

I am midway through writing this and our MLS has gone down. Frozen up, perhaps??? Hopefully it won't be for long but being a weekend . . . I'm going to post what I have finished so far and when it comes back online I'll add the links and post my Picks of the Week, but I don't want to not post an update at all. I hope you'll check back. Keep warm!