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.

  Autumn has arrived and the temperature has finally cooled with a forecast high today in the low 70's.  Very nice indeed. Our market also cooled a bit this week with only two sales and one new contract. Sorry to report, though, our inventory continues its slow creep back upward closing at 416, with 144 homes and 265 lots listed for sale in the MLS in the Cape San Blas, Indian Pass and C-30 Corridor market. We also  have six new listings, ten price changes, and three expired unsold.

   Our first sale is this Cape San Blas 4-bedroom, 4-bath, 2,176 square foot first tier home with in-ground pool on White Sands Drive about a mile south of the state park. It last sold in early 2002 for $210,000, was listed in September 2005 for $1.15M, and just four years later the county gives it an assessed value of only $391,527.  It went under contract as a short sale with a list price of $599,000, and sold on Friday for $515,000. 

   It's  about time this gulf front lot at Curve at the Cape on C-30 near the turn off onto Cape San Blas Road sold. It came on the market in mid 2008 with a list price of $399,900 and after numerous price reductions, finally reached $220,000 this past July which was just the price point it took to elicit an offer, and on Friday it closed for $212,000 with the buyer paying some closing costs. With 59′ of gulf frontage, that's roughly $3600 per waterfront foot, and like time travelling back nearly a decade. Poor ol' Kes our county property appraiser missed this one by a country mile, coming in at $356,700.

   Our lone new contract is on a pre-construction package for a lovely 4-bedroom, 3 1/2 bath 2,100 square foot home on a gulf front lot on the Cape with a list price of $699,000. The home will be situated on a 50′ by 350′ lot just a little north of Scallop Cove. There are contingencies to be met so no projected closing date noted.

My New Listing Pick of the Week from our six new listings is really a new re-listing with a new bank-approved short sale price of just $425,000 but the place is a beauty, no doubt about it. This is a modern 2-bedroom, 2-bath, 1,985 square foot lovely bay front home on the south side of Cape San Blas with in-ground pool and elevator. This is a LOT of home for this price and a lot of land, say 2.24 acres, basically right at the county's assessed value of $420,403, and less than half the $980,000 it sold for in late 2005. Check out the view from the front deck off the living area:

Nothing to write home about in our ten price changes this week so once again not going there.

Despite this week's lull in activity to report about, my week has been hectic as all get out, with a lot of people looking at and wanting info on listings, owners requesting market reports, offers coming and going across my desk . . . in short, change is in the air. If you are interested in either acquiring or selling now may be the time to talk. Give me a call at 850-227-7891 or shoot me an email to Sherri@SherriDodsworth.com and let's see what we can put together for you.

Thanks so much for stopping by today. If you're in the area, I hope you'll stop by and say hello. My office is located at 1252 Cape San Blas Road.

Here's something you don't see every day. Spotted this little fella, about 3 to 4 foot in length, in the retaining pond at Sea Cliffs up by the state park while I was out showing property.

  Did someone say summer is over? You'd never know it around here as the thermometer seems stuck around 90. While some parts of the country will see their first dusting of snow this weekend, we'll be heading to the beach which is where I think most of our buyers must have gone this week as they sure weren't doing much in the way of real estate. After several consecutive fairly active weeks, we had only two closings, no new contracts, two new listings and seven price changes.  Unfortunately what did change was our overall inventory, which continues to creep back up, this time by five, to end the week with 411 active MLS listings in the Cape San Blas, Indian Pass and C-30 Corridor market, with 144 homes and 265 lots. I hope this isn't a reversal of the downward trend we've seen in the inventory since 2007.  We'll want to keep a very close eye on this.

Interesting that both of our sales were at Barrier Dunes, one a townhouse the other a lot for a single family home. Let's start with the townhouse which is one of only two one-bedroom units in the complex. It has a very pleasant tropical view from the living area.

This 1,164 square foot unit was built in 1986 and last sold in November 2005 for $380,000. It went under contract with a list price of $214,000 and sold on Monday for an even $200,000, impressively close to the county's assessed value of $205,668.

If you read this update regularly you're probably having a deja vu moment about now thinking didn't I just see this lot? Well, yes and no. You see it here today as our second sale of the week, but you also saw it just last week as one of our new contracts. Talk about a quick cash deal. This bank-owned lot on Lakeshore Drive at Barrier Dunes went under contract with a list price of $220,000 and closed this week for, get this, $99,000. Amazing. It went to the bank in September 2008 with a county recorded value of $314,300, and was originally listed back in December 2004 for $450,000. Old Kes thinks even this $99K was too high; he figures $63,000 would have been closer to the mark.

There may be only two new listings but one of them is an eye-catcher. I like this 3-bedroom, 2-bath, 1,200 square foot lagoon front home on C-30 built in 2008 which enters the market at an affordable $199,000. It seems like only yesterday the lot alone would have sold for more than that. It's a pretty home with great water views located in a quiet country setting. What a peaceful weekend retreat.

I couldn't find any gems among our seven price changes worthy of my Price Change Pick of the Week, so we're not going there today.  I can't remember the last time we've had such a brief update; it's a trend I definitely prefer not to continue.  Personally I've had a very active week showing a lot of property to a number of people which will hopefully turn into some new contracts soon, so there is activity our there, just not any sense of urgency.

I hope you have an active and productive week, and if this is a three day weekend for you, make it count. Get out there and have one last summer hurrah. If you want in on some of the good real estate deals we're seeing here locally, give me a call on my cell at 850-227-5197 or shoot me an email to Sherri@SherriDodsworth.com. I love hearing from my readers, a group which I'm happy to say is growing to a steady number right now of about 150 daily. Thanks for stopping by today and hope you'll check back soon.  

Autumn's in the air and it has been another glorious week here in paradise. The air's a bit drier, the nights a little cooler, and the sunshine has returned. Buyers also returned bringing a flurry of sales activity with five closings and three new contracts. We end the week with our inventory at 406 up three from last week, with 142 homes and 264 lots listed in the MLS for Cape San Blas, Indian Pass and the C-30 Corridor. We have 14 new listings, only four price changes, and eleven expired unsold.   We have a lot of territory to cover today so let's get started.

The first of our five closings is this bank-owned, first tier home on Haven Road on the Cape. It's a spacious 4-bedroom, 4 1/2 bath, 2,547 square foot spec home with gorgeous views of the gulf from throughout. It was built in 2007 and made its market debut with a $1.25M dollar price tag which has been repeatedly marked down ever since.  The home finally went under contract when it reached $595,000, and sold this week for $547,000, impressively close to the county's assessed value of $535,985.

Our second sale takes us up to Barrier Dunes where a 2-bedroom, 2-bath, 1,364 square foot interior townhouse with a list price of $248,000 closed for $213,000.  It last sold in mid-2005 for $325,000. Kes nailed this one almost exactly, assessing it at $214,573. I'm having a hard time getting used to sale and assessed values being so close after years of the two being miles apart and the idea of selling anything for its assessed value was a joke. Welcome to the new norm.

Practically next door to Barrier Dunes up at Sunset Pointe our third sale is an interior lot listed for $89,000 that sold for $65,000. Kinda makes my Price Change Pick of the Week from last week which was a similar lot in Sunset Pointe listed for $46,900 look that much sweeter, doesn't it? As I write this it's still available, but I've had a lot of inquiries about it so you need to step up to the plate real soon if you want to snag it.

Our fourth closing was on a beautiful gulf front lot on the south side of the Cape in Jubilation. This 1.27 ace property last sold in January 2005 for $1.1M. It recently went under contract as a short sale with a list price of $475,000, and this week it closed for $425,000, well above the assessed value of just $312,000.

Our fifth and final sale takes us out along the C-30 Corridor over to Simmons Bayou where this modest 3-bedroom, 2-bath, 1,244 interior home listed for $179,900 sold for $149,000. This home was recently very nicely renovated and the county's assessment of $74,463 better reflets its pre-renovation value. It was built in the early '90s out on the Cape north of Stumphole and was moved over to Simmons Bayou a couple of years ago.

OK - moving right along let's see what people wrote contracts on since we last met. Our three new contracts inlude one house and two lots. Let's start with the house which is the above home located in Turtle Dunes subdivision on the Cape. It's a 4-bedroom, 4 1/2-bath, 2,657 square foot jewel built just last year and placed on the market as a rental property. The sellers paid $700,000 for the lot alone in early 2005, and the home goesunder contract with a list price of $899,999, quite a bit above the county's assessment of $506,999. Here I think the sellers are closer to actual market value  than the county, but we shall have to wait and see.

Our second contract is on this gulf front lot in Camp Palms at Indian Pass listed for $269,000. It's a little over an acre with 61′ on the water and about 460′ deep. This is the gulf front portion of a parent lot which extends from the gulf to the lagoon and has belonged to the sellers family for years, so there is no sales history associated with it. The  propertyr' office doesn't show an assessed value for just this portion yet.

Our third and final contract is on a road front lot in the single family residential section of Barrier Dunes back on the Cape by the state park. Several very nice homes have been built in this area. This particular lot is bank-owned with a list price of $220,000, 3 1/2 times more than the county's assessment of $63,000, so it'll be interesting to see who gets it closest. The developer never sold this lot so no prior sales history is associated with it.

On to the fun stuff. There are fourteen new listings and we have a winner for My New Listing Pick of the Week. I'm liking this totally renovated gulf front Cape San Blas townhouse for just $389,900.How's this for a view from your living area?

Not too shabby. Here's the dexcription from the MLS:

This Gulf front townhome was recently remodeled to reflect a fresh beachy atmosphere. The upgrades include a new metal roof, replacement windows, exterior siding, turtle lights, wood laminate flooring, fresh paint, new tile, and light fixtures. In addition, the kitchen cabinets, appliances, washer and dryer were replaced. Located on the pristine beaches of Cape San Blas this unit would make the perfect second home, and you can also supplement your income with the rental proceeds. This home has been on the rental program only a short time with great results. Enjoy the best of both worlds, the beach at your feet when you're ready to visit, and a supplemental income when you can't be here.

This place sold in early 2005 for $450,000, but suffered from neglect and ended up being foreclosed on. By the time the bank sold it in early 2008 she was a bona fide fixer upper, and the current owner picked it up for $207,000 and has put a lot of time and money into it.

We only have four new price tags this week and none of them give me a Chris Mathews-like tingle running down my leg so we'll save the Price Change Pick of the Week tiara for next Saturday.

I hope you're having a wonderful weekend with family and friends, and appreciate your taking a few minutes out to stop by. If you're interested in making one of these properties your own, or if you have property you'd like to sell, please give me a call at 850-227-7891 or write to me at Sherri@SherriDodsworth.com . Ciao for now.

 We welcomed the arrival of autumn this week and look forward to a little cooler weather as it has been another hot, summery week, though thankfully sunny again after all the drenching rains of late. The market hasn't cooled off yet, either, as we managed to have another three closings and three new contracts. In other activity we have nine new listings and eleven new price tags. Our inventory is still hovering around the 400 mark, closing up four from last week with 403 active MLS listings in the Cape San Blas, Indian Pass and C-30 Corridor market, with 143 homes, and 260 lots.

All three of our sales were homes, two gulf front and one bay view. Let's start on the Cape with the first gulf front home which is in Secluded Dunes, the northernmost subdivsion in the Cape peninsula, adjacent to the state park.

This is a bank-owned 3-bedroom, 3-bath, 2,700 square foot home built in 1990 and situated on a spacious 112′ wide gulf front lot. The previous owners gave a warranty deed to the bank in September 2006 with a recorded value on the property appraiser's records of $1,695,700, after which the bank put it on the market for $1.048M two months later. By the time it went under contract several weeks ago, that list price was down to $699,000.  On Friday it sold for an even $600,000, way below the county's assessed value of $999,599.

This is a bank-owned 4-bedroom, 3 1/2-bath, 2,200 square foot fixer upper situated on a 50′ wide gulf front lot not far from Scallop Cove which came on the market just this month on the 6th for a mind-popping price of $225,000, well below the county's assessed value of $247,630. Not surprisingly it went under contract almost immediately, and the parties closed on Thursday for the full list of $225,000. These buyers pounced on this as it showed up in the MLS late in the afternoon and by morning was under contract. The bank took quite a hit on it as it last sold in May 2005 for $1.15M.

Our second sale is a bay view home over in Simmons Bayou right near Presnell's Boat Launch. The building used to be on the bay side of the street and served as the offices for Newman Construction until it was sold and moved to its current location about four years ago. Unfortuantely, those owners had it foreclosed on. This 3-bedroom, 2-bath, 1,620 square foot home was recently renovated and sold on Thursday for full list price of $199,000, a good bit above the assessed value of $110,431.

The first of our three new contracts is on this 3-bedroom, 2-bath, 2,000 square foot roadfront home on Cape San Blas Road with terrific views throughout of both the gulf and the bay. With a list price of $299,900, it is a lot of house for the money. There are decks on both living levels which completley encircle the home so you can always sit right where the breeze is coolest and enjoy those views. This house was also moved just a few years ago, having previously been located on the gulf where Turtle Dunes subdivision is now. The assessed value of $294,447 is real close to its list price. The contract has contingencies to be met so no indication as to when it may close.

Our second new contract has no such contingencies and is slated to close next week on the 30th. Sounds like a cash deal to me. It's an interior 2-bedroom, 2-bath, 1,364 square foot townhouse up at Barrier Dunes listed just this week for $248,000, not too far above the assessed value of $214,573.  The property appraiser's office has been busily adjusting values downward to better reflect the current market; this one last sold in May 2006 for $325,000 so it has come down quite a bit.

  Our third and final new contract is on a comfy country cottage along the C-30 Corridor which went under contract on Friday with a list price of $215,000, below the $220,000 it sold for in 2003, but still above the county's assessment of $185,815.  It is a 3-bedroom, 2-bath, 1,152 home with lots of custom cabinetry and paneling throughout nestled on a quiet woodsy lot in Treasure Bay, not far from the turn off onto Cape San Blas Road. There are no contingencies to be met and the projected closing date is mid November.

My Pick of the Week from this week's crop of new listings is a first-tier gulf-view home in Peninsula Estates, less than a mile south of the state park. In the spirit of full disclosure, this is my listing. It's a 3-bedroom, 2-bath, 1,058 square foot home with awesome gulf views and deeded gulf and bay access. You can stow your lawn mower as the landscaping is natural xeriscaping. A short sale listing at $299,000, it is the lowest priced first tier single family home on the Cape currently listed for sale.  I have had a lot of agents showing interest in this listing in the past few days.

My Pick of the Week from our eleven price changes is this bank-owned interior lot up in the gated Sunset Pointe sudivision by the state park which goes from $69,000 down to $46,900, giving it the distinction of becoming the lowest-priced property in our inventory of 403 listings.  It's also only about 60% of the county's assessed value of $78,500.  You'd basically be getting this lot for 10 cents on the dollar with it having last sold in the summer of ‘05 for $440,000. Here's an aerial showing its location which is only a short stroll to the beach:

Thanks for taking time to stop by today and check out what's going on around here. My sense is that we've weathered the worst and the market is bouncing off the bottom as we're seeing such an increase in (as in some return of) interested buyers. I'm also encouraged by the fact that the buyers I'm seeing (can't speak for all my colleagues) aren't just speculators which was what fueled this problem in the first place, but people purchasing for the right reasons, i.e. long-term investments, not just to flip. If you're interested in selling or buying, please give me a call either at my office, 850-227-7891, on my cell, 850-227-5197, or shoot me an email to Sherri@SherriDodsworth.com . Have a great weekend.

  Like most of the rest of the southeast, we've been inundated with rain, rain and MORE rain again this week. As I woke up on Tuesday to yet another rainy morning, I wondered if I had somehow been transported to Seattle. All this liquid sunshine has done little to dampen the appetites of buyers, though,  as we managed to have another banner week, with three closings and three new contracts. Yea! We still have a hefty inventory of properties for sale in the Cape San Blas, Indian Pass and C-30 Corridor market hovering right around the 400 mark, this week ending up four from last week at 399, with 142 homes and 257 lots for sale in the MLS. New listings are down, with only four, but prices continue to adjust, with twelve price cuts.

I've been encouraged lately by the variety of properties going under contract and closing, a good mixture of homes and lots, and this week continues that trend, with a single family home, a townhouse and a lot.  Let's take a look at them in that order.

  First up is this bank-owned home on C-30 over in Treasure Shores First Addition, which is on the north side of C-30, making it a second tier home. Designed by architect Gordon Mock whose impressive work can also be seen at Windmark,  this is a three-bedroom, 3-bath, 1800 square foot home which last sold in December 2005 for $695,000. The owners put it back on the market in early 2007 for $645,000, but were never able to attract a buyer, and the bank took it back just a few months ago.  They listed it for $359,900 and closed on Tuesday for exactly that amount, a loss of 48% in value since 2005. The county had this one assesssed at a low $296,669.

Back to the Cape for our second sale of the week, and this is one half of a gulf view duplex at Cape Sands Landing, about half a mile north of Scallop Cove. It's a 2-bedroom, 2-bath 1600 square foot home built in 1985 and it has good gulf views from both its decks. The sellers have owned it since 1998 when they bought it for $95,000. They listed it several months ago for $199,900, dropped it recently to $174,900 at which price it went under contract almost immediately. They closed on Thursday for $165,000, well below the assessed value of $192,753. Somebody got a great deal here.

  Our third and final sale of the week is also on the Cape, this one a lot on Sumerhouse Lane at the entrace to San Dunes subdivision. It's roughly a third of an acre, a corner lot fronting Cape San Blas Road also, and measures 85′ by 170′.  They should have good views of both the bay and the gulf when the new owners build. This property last sold in April 2007 for $300,000, the county currently has it assessed at $189,000, and some savvy buyer bought it for $169,000. They're not wasting any time either as they have already put in pilings and started to build.

All three of our new contracts are on homes, one at Indian Pass and two on the Cape. They're also all listed as short sales. The Indian Pass home is the largest of the lot so let's start with it.  This is such a beautiful home situated on a lush gulf front lot over an acre in size. Here's the MLS description:

This Key West style historic home (Circa 1903) was relocated on a 92′ wide Gulf Front lot and carefully restored. The home contains heartpine floors throughout, original stained glass windows, 12′6″ ceilings, and original adjustable transom windows. The custom designed gourmet kitchen features floor to ceiling cabinets, top of the line stainless steel appliances, granite countertops and a ceramic apron farm sink. The home also features six fireplaces, including one in the kitchen and the master bathroom. Custom Bahama shutters cover the windows. There are over 1,000 square feet of screened porches with a huge 6′ x 11′ tiled spa and waterfall (the computerized spa is chlorine-free). The lot has been professionally landscaped with native vegetation. X Flood.

It's a short sale with a list price of $799,900 having last sold in September 2004 for $1.65M. Youch. It's currently assessed for $828,285. It'll be interesting to see what the bank does with this one.

  Over to Two Palms on the south side of the Cape for contract number two, and it's on a house we've seen before as both a pick of the week and for a previous contract which didn't work out. It's a large 4-bedroom, 4-bath, 3100 square foot first tier home with terrific views of the gulf. The sellers bought it in early 2004 for $518,000 and put it back on the market 18 months later with a $1.195M price tag. No takers. It's currently at $567,000 which is still a good bit above the county's assessment of $468,248, but the bank will be the final decision maker on what they'e willing to let them sell it for.

Our third and final new contract is up at Barrier Dunes, just outside the state park, where this 3-bedroom, 3-bath 1312 square foot interior townhouse went under contract on Friday with a list price of $220,000, below the $227,748 county assesment. This is on Parkside so it's not a view home. I'm not sure about this sales history, but from the county records it looks as if it sold in June 2004 for $207,000 and then again just two months later in August for $370,000.  That seems odd to me even by mid-2004 standards.

There may be only four new listings but I've got a Pick of the Week anyway when I see a lagoon front lot on C-30 just past the Indian Pass Raw Bar for only $67,000 and it's not a short sale. Here's an aerial which seems to show a section of wetlands crossing about the middle of it, but it's a deep lot (100′ by 599′ for about 1.3 acres) and appears to have plenty of dry room on the front part for a nice home with terrific views.

Another easy Pick of the Week from among the twelve new price tags, this one a gulf front lot on the Cape for only $279,000. No typo there - it's $279,000 for a 62′ by 100′ lot on White Sands Drive just north of Ovation, and less than a mile south of the state park entrance. This property last sold in the summer of 2004 for $650,000, so it's a short sale, but according to the MLS the bank has already approved this list price so it shouldn't take long to close. Doesn't this look like a Florida postcard?

Well, it took several days for me to put it together with everything that's been going on but we finally made it, albeit late Monday afternoon. Thanks so much for checking back, and hopefully we'll have next Saturday's update to you on time. These buyers are keeping me busy and trust me, I am NOT complaining!  If you're considering buying or selling, please give me a call at 850-227-7891 or send me an email to sherri@sherridodsworth.com . I'd welcome the opportunity to earn your business. Have a terrific week, and if you live here in the southeast, I hope you're staying dry