Cape San Blas Blog

Cape San Blas Real Estate Week In Review - Week of Nov. 21-27, 2009

Sherri Dodsworth PA (Boardwalk Realty of NW FL) — Sat, 28 Nov 2009 11:44:50 -0600

Nov 28 2009

Cape San Blas Real Estate Week in Review - Nov. 21-27, 2009

Published by Sherri Dodsworth under Barrier Dunes, Cape San Blas, Foreclosures/Short Sales, Forgotten Coast, Indian Pass, Port St. Joe, Real Estate Edit This

Black Friday may have been the national official launch of the holiday shopping season but buyers shopping for coastal real estate snapped up bargains all week long as we had yet another banner week, with three closings and five new contracts. Those Thanksgiving shoppers gobbled up a nice chunk of our inventory and we end the week down five to 388, with 139 houses and 249 lots listed in the MLS in the Cape San Blas, C-30 Corridor and Indian Pass market. In other activity, we had only four new listings, six price changes, and seven expired unsold.

We'll start off by looking at our three sales, beginning on the Cape where our first sale was this pre-construction package for a 2100 square foot, 4-bedroom, 3 1/2 bath gulf front home just north of the BP station at Scallop Cove. The builder got full asking price of $699,000 which is good for a home on 50′ of quality gulf front. The house in the photo is representative of the houseplans being offered.

Our next two sales are both bank-owned lots, the first being an interior lot on McCosh Mill Road in the Piney Woods Beach subdivision where this 80′ by 90′ lot listed for $95,000 sold on Tuesday for an early Black-Friday bargain price of only $49,000. Such a deal considering this lot last sold in March 2006 for $425,000 and is currently assessed for $100,800. Another 10-cents-on-the-dollar bank resale.

Our third and final sale was a first tier lot over on Canoe Lane off C-30 not far from Indian Pass. This quarter-acre lot last sold in December 2004 for an even $500,000 but is currently assessed by the county for only $360,000. Capital City Bank ended up with it and had it listed for $179,900, but took $133,100 for it on Wednesday.

Now on to our five new contracts, starting on the northern part of the Cape, just south of Coneheads Restaurant, with this irregularly shaped first tier lot listed for only $62,500 which went under contract on Tuesday. This is a pretty stretch of beach with very nice homes. The lot sold in August ‘05 for $475,000 so we're probably looking at yet another close to a dime on the dollar resale. Simply stunning. This one's assessed at nearly twice its list, at $157,000, so Kes had better ask Santa for a sack of erasers to keep up with all these changes.

Just a little further south on White Sands Drive in San Blas Shores (just north of Ovation) our second contract is on this beautiful bank-owned first tier home listed for $599,900. This 4-bedroom, 5-bath, 2,878 square foot home was moved onto its current lot several years ago from its original gulf front lot across the street. It came on the market in October for $674,900, so the bank dropped the price pretty quickly. The county has this one at $419,777.

Our third contract is something a little out of the ordinary in that it's zoned for commercial or residential use. It's about a quarter acre, measuring 81′ by 122′ and is just a bit north of Pristine Properties Vacation Rentals so it's in a location with good traffic. I'm curious to see what the new owners do with it. The home on the adjacent lot just recently sold so it might also be those new owners decided to buy this land as well for their own use. With an asking price of only $79,000 that would make a lot of sense. We'll just have to wait and see.

All the way down on the south side of the Cape for our fourth contract which is this circa early '80's gulf front house on a huge gulf front lot of over two acres. The sellers purchased the place in 1988 for $129,000, and put it on the market in January ‘06 sporting a $1.8M price tag with the rationale that the property is large enough to replat into a small subdivision of several lots. Unfortunately that craze had cooled by then, and by the time it went under contract this week it was wearing a far more modest price tag of $399,900, well below its assessed value of $483,928.

Out onto C-30 over to Waters Edge for our fifth and final contract which is this road front lot with a terrific gulf view listed for a very reasonable $75,000, almost identical to its $72K assessment. It's not listed as a short sale even though it last sold in mid-2005 for $340,000.

Only four new listings this week but there's one worthy of my New Listing Pick of the Week award. I really like this first tier lot in Peninsula Estates about a half mile south of the state park entrance. Just look at how close you are to the beach with this one. You're going to have great views when you build, and all the lots in this subdivision include deeded gulf AND bay access. At only $145,000 you've got yourself a great place to build your coastal retreat. This is a nice size lot, too, coming in at half an acre and measuring 193′ by 119′.

It's a banner week as I also have a Price Change Pick of the Week from among our six price changes, this cozy country cottage out on C-30 which in the spirit of Black Friday was marked down 26% from $249,900 to $184,900. This seller is obviously ready to go. Here's the MLS description:

This home has loads of storage with two 500 sq. ft. storage rooms downstairs. Relax and enjoy the evening breeze from your choice of two new 500 sq. ft. screened porches. Each is independently accessed from its own set of stairs. A security fence surrounds the yard and home with a drive-through gate and four walk-through gates.

A boardwalk through one of the gates at the back of the home leads to a private screened gazebo with a seven foot Elizabethan, claw-foot double-slipper tub, complete with hot and cold running water, and a ceiling fan.

Soak your cares away in your own private sanctuary while you enjoy the sounds of nature. A sprinkler system controlled by a timer, makes lawn maintenance easy. This cottage offers a bay view in a private, natural setting, very near the beach. This area has FEMA Flood.

That's a wrap for this week - thanks for hanging in there til the end, as we covered a lot of territory today. If you're interested in either buying or selling let me know and I'll be glad to help you out. There's a lot going on again. Call me on my cell at 850-227-5197 or send me an email to Sherri@SherriDodsworth.com . Have a great week and thanks for stopping by.

Cape San Blas Real Estate Week In Review - Nov. 14-20, 2009

Sherri Dodsworth PA (Boardwalk Realty of NW FL) — Sat, 21 Nov 2009 19:47:09 -0600

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.

Cape San Blas Real Estate Week In Review - Week of Nov. 7-13, 2009

Sherri Dodsworth PA (Boardwalk Realty of NW FL) — Sat, 14 Nov 2009 11:11:49 -0600

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.

Cape San Blas Real Estate Wek In Review - Week of Oct. 31 - Nov. 6, 2009

Sherri Dodsworth PA (Boardwalk Realty of NW FL) — Sat, 14 Nov 2009 11:09:03 -0600

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.

Cape San Blas Real Estate Week In Review - Oct. 24-31, 2009

Sherri Dodsworth PA (Boardwalk Realty of NW FL) — Fri, 06 Nov 2009 07:22:35 -0600

"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.

Cape San Blas Real Estate Week In Review - Oct. 17-23, 2009

Sherri Dodsworth PA (Boardwalk Realty of NW FL) — Fri, 06 Nov 2009 07:18:49 -0600

(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.

Cape San Blas Real Estate Week In Review - Oct. 10-16, 2009

Sherri Dodsworth PA (Boardwalk Realty of NW FL) — Sun, 18 Oct 2009 20:07:23 -0500

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.

Little Gator Up At Sea Cliffs

Sherri Dodsworth PA (Boardwalk Realty of NW FL) — Tue, 13 Oct 2009 18:24:15 -0500

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.

Cape San Blas Real Estate Week In Review - Oct. 3-9, 2009

Sherri Dodsworth PA (Boardwalk Realty of NW FL) — Sat, 10 Oct 2009 18:32:05 -0500

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.

Cape San Blas Real Estate Week In Review - September 28 - October 2, 2009

Sherri Dodsworth PA (Boardwalk Realty of NW FL) — Sat, 03 Oct 2009 13:41:49 -0500

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.

Cape San Blas Real Estate Week In Review - September 19-25, 2009

Sherri Dodsworth PA (Boardwalk Realty of NW FL) — Sat, 26 Sep 2009 07:58:54 -0500

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.

Cape San Blas Real Estate Week In Review - September 12-18, 2009

Sherri Dodsworth PA (Boardwalk Realty of NW FL) — Mon, 21 Sep 2009 13:28:10 -0500

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

Cape San Blas Real Estate Week In Review - September 5-11, 2009

Sherri Dodsworth PA (Boardwalk Realty of NW FL) — Mon, 21 Sep 2009 13:25:19 -0500

Summer may be officially over but luckily our buyers apparently didn't get that memo as they were still here snapping up great real estate deals. It's been another good week, with three closings and three new contracts. Only four new listings and eight new price tags. Unfortunately, though, our inventory's inching back up, adding nine more than last week, ending at 402, with 146 houses and 256 lots listed for sale in the MLS for the Cape San Blas, Indian Pass and C-30 Corridor market.

It is a healthy indicator for our market when all three of our sales are lots. They're all on the Cape, and the first is a gulf front property in Dolphin Beach to Bay subdivision, located about three miles south of the state park. This is 54′ on the gulf, a little over half an acre, and last sold in early 2002 for $390,000. The sellers listed it in January for $549,000, had it down to $439,000 by the time it went under contract, and picked up a check at closing this week for $400,000.

Our second sale is just a few blocks away on Sea Horse Lane not far from The Tradin' Post. It's a really nice gulf view lot, good elevation and with awesome views of the beach. It was listed just a few weeks ago for $139,000 and that's what it closed for on Friday. The sellers had owned it for quite some time so there's no pertinent sales data on file, just the assessed value of $180,000. Again, price it right and it will sell.

Our final sale was an interior lot in San Blas Plantation on the south side of the Cape. This roughly quarter acre lot last sold in December 2004 for $240,000 and was put back on the market in early 2006 for $349,000 but never had any takers, and was eventually foreclosed on by the bank. They listed it for $89,900 this past January, have been whittling the price down since then, finally reaching $44,000 in early August, and it closed this week for $37,500. Talk about a comp killer - even the county had it assessed for $124,000. Ouch.

Our three new contracts include one house and two lots. Let's start with the house, which is a bank-owned single family fixer upper gulf front home just north of Stumphole. This listing showed up on the MLS late Wednesday for the give-away price of $225,000 and was under contract with no contingencies by Thursday morning with a projected closing date of September 25. This one's going to be yet another comp killer at this price. It last sold in 2005 for $1.5M so the bank is taking a huge soaking here. Kudos to Kes, though, as the county already had it assessed at $247,630. Real curious to see what it actually closes for.

Our first lot is also a gulf front, this one over at Indian Pass. It's not a short sale or foreclosure but you'd think so with a list price of only $269,000 for 61′ on the gulf. It has been in the family for some time so no pertinent sales data is available; I guess they just really want to sell. Since it's part of a larger parcel the county doesn't have an assessed value on just this piece.

Our third and final new contract is on an interior lot up in Sunset Pointe at Cape San Blas, adjacent to the state park with a list price of $89,000. This property last sold at the height of the market in mid 2004 for $195,000. They tried to flip it a year later putting it back on the market for $435,000 but by then buyers had disappeared. According to the MLS this is not a short sale requiring lender approval; the sellers are taking the sacrifice here. They have it priced very close to the county's assessed value of $78,500.

My pick of the week I had lined up from this week's four new listings has already gone under contract, the gulf front house mentioned above listed for $225,000. I do have a winner, though, among our eight price changes.

This comfy cottage at Cape Dunes on the south side of the Cape is priced to sell quickly, with the sellers dropping the price this week from $279,000 to $229,000, real close to the county's assessed value of $191,286. This is a good deal for a great weekend get away or vacation rental. Here's of snapshot the beach at Cape Dunes which is only a short stroll out the front door:

This 3-bedroom, 1,259 square foot home built in 2001 has a custom interior by Tiffins Interiors and is being sold completely furnished. It has a large deck overlooking the bay, and an open deck off the living area for sunning. Plenty of parking for several cars and boats, plus a large storage room/workshop space, too.

That does it for this week. I'm working this weekend so if you'd like more info on these or other properties pick up the phone and give me a call: 850-227-7891, or send me an email to Sherri@SherriDodsworth.com . I also got a stack of brand new For Sale signs in this week so if you're interested in selling, I'm ready. Just let me know. I'd love to be your listing agent.

Cape San Blas Real Estate Week In Review - August 29 - September 4, 2009

Sherri Dodsworth PA (Boardwalk Realty of NW FL) — Sat, 05 Sep 2009 09:08:49 -0500

It's Labor Day Weekend and that means we're counting down our final five days of Scallop Season 2009 as it draws to an end on Thursday, September 10. This upcoming week should be pretty busy as people hurry to stock their freezers with several last bags of the succulent little bivalves. No sign this past week that we're drawing to the end of our recent resurgent real estate bargain-hunting season, as we had four closings and two new contracts. We also had nine new listings and eleven price changes. Our inventory of active MLS listings in the Cape San Blas, Indian Pass and C-30 Corridor remains unchanged at 393, with 139 homes and 254 lots.

Our four sales were all on the Cape: two lots, a town house and a single-family house, two bank-owned, two short sales. Let's start with one of the short sales which is one of only a few single family homes to have been built up at Barrier Dunes just outside the state park entrance.

This 3-bedroom, 3 1/2-bath 2,325 square foot house is a spec home built in 2006 that never sold. The builder bought the lot in early 2005 for $495,000. In October last year it was put in the MLS for $599,000, was down to $399,00 when it went under contract, and closed on Tuesday for $375,000, substantially below the county's assessed value of $404,211.

Our second sale was also a short sale at Barrier Dunes, this one a custom-built 5-bedroom, 3-bath, 2600 square foot model currently assessed by the county at $334,895. The sellers bought it in October 2007 for $382,500 and flipped it back on the market just six months later for $499,000. When it went under contract it was down to $315,000 and sold on Friday for $290,000. That's a lot of house for the money.

A little further south on the Cape our third sale was a bank-owned bay front lot measuring 108′ by 529′, or roughly 1.3 acres, overlooking Pig Island. This is another example of someone getting a really sweet deal. This lot last sold in October 2006 for $850,000 after having sold just a year and a half before in May 2005 for $595,000. The bank foreclosed on it earlier this year, put it on the market for $199,000, and some savvy shopper snapped it up on Monday for merely $152,500. Nicely done. The county was way off on this one, overshooting the mark at $216,000. These banks are just killing waterfront values with comps like this and the ripple effect across the local economy is going to continue to be huge.

Our fourth and final sale of the week was in nearby Ocean Haven where this bank-owned lot is all about the views, both of the gulf and the bay. Located on Cape San Blas Road, it measures 66′ by 215, or roughly a third of an acre, and was a developer-owned property which never sold and foreclosed on last December. It debuted in the MLS in August 2005 with a hefty $649,000 price tag, but after languishing on the shelf unsold for four years by the time it went under contract it had been marked down to $155,000. Somebody went to closing this week and picked it up for $117,500; I want to hire that guy to negotiate my next auto purchase. I've got to give Kes some credit here as he almost nailed this one. He had it at $112,000.

We travel just a couple blocks further south on the Cape for the next property we're going to take a look at, and it's really a "two-fer" as I had pegged it as my Price Change Pick of the Week before it went under contract on Thursday. This is the 2-bedroom gulf view duplex in Cape Sands Landing which was a New Listing Pick of the Week when it entered our hit parade at only $199,000 not too long ago and it was a shoe-in for price change pick when they dropped the price at the beginning of the week to an eye-popping $174,900. I figured it would go fast at that price, but admit I didn't think it would be that fast. These sellers should be in good shape having purchased it in 1998 for $95,000.

It was all Cape all week, as our second new contract was just a little up the road on Seahorse Lane, where this beautiful, high, gulf view lot with great vegetation and awesome views went under contract just 15 days after entering the MLS with a real-world list price of $135,000, well below the county's estimate of $180,000. Price it right and they will buy. I showed this lot just a few days ago and the couple remarked the area reminded them of their native Cape Cod from years ago. It's a gorgeous setting. No contingencies and the projected closing date is just a week away on September 11.

My Pick of the Week from among our nine new listings is a no brainer, in fact it's two no brainers. Check out these two bank-owned lots near the point of Indian Pass overlooking the beautiful wildlife preserve of St. Vincent Island.

They make a grand entrance into the MLS with list prices of $299,000 each, but with one of the other gulf front lots in this same tiny subdivision having sold at the end of June for just $135,000 I don't know how they expect theirs to comp at over twice that price. At prices like this why not buy one to keep and one to share? Christmas is just around the corner . . .

It's hard to beat the $174,900 duplex on Aruba I had planned to go with as our Pick of the Week from our eleven price changes, but there is one lot in Ocean Haven subdivision on the Cape which goes from $195,000 to $125,000 as a short sale, and I think is worthy of the title.

This is an area of the Cape which has filled in with very nice homes, and with its nature-filled views and easy access to the beach there's a lot to like. Ocea Haven s about 4 miles south of the state park entrance so you're not far from the boat launch at Eagle Harbor. This lot last sold in January 2004 for $235,000 and has been on the market since January ‘08 with an original list price of $250,000. The county has it assessed for $112,000 and I think that's a realistic price range based on what we've been seeing. Again, this is listed as a short sale so ultimate arbiter will be the bank.

That's a wrap for this week. If you saw something today you'd like more info on I hope you'll give me a call at 877-512-9366 or send me an email to Sherri@SherriDodsworth.com . Things have started to move again so If you're considering selling, I'd love to work with you and will be glad to provide you with a comparative market analysis to help you get an idea of what your property might bring in the current market.

Have a safe and fun-filled Labor Day weekend. Hope to see you back here soon. Thanks so much for stopping by.

Barrier Dunes Update For September

Sherri Dodsworth PA (Boardwalk Realty of NW FL) — Sat, 05 Sep 2009 09:05:05 -0500

Hard to believe it's Labor Day Weekend already but it is, and since today is the first Friday of the month it's time to take a look at what's the latest with Barrier Dunes. Currently there are thirteen townhouses listed for sale, ranging in price from $184,500 for a park side unit, to $625,000 for one on the gulf. My pick of the litter? I don't see how you can miss with this gulf front 3-bedroom, 3 1/2 bath unit for the give away price of only $449,900.

The views from this place are like sitting in a Florida post card.

She seems to be in good shape overall, just needs some fresh lip stick and wardrobe; nothing that a few trips to Target and Lowe's or Home Depot's paint department wouldn't take care of.

Call me toll free at 877-512-9366 or send me an email to Sherri@SherriDodsworth.com if you'd like to schedule an appointment to see any of these or if you are interested in selling your Barrier Dunes property.

Cape San Blas Real Estate Week In Review - August 22-28, 2009

Sherri Dodsworth PA (Boardwalk Realty of NW FL) — Tue, 01 Sep 2009 12:06:59 -0500

Today marks the second anniversary of Cape San Blas Blog, having uploaded my first post on August 29, 2007. I started getting a feel for doing these weekly updates the following month, and in the first review in September 2007 we had 200 houses and 355 lots for sale in the MLS in the Cape San Blas, Indian Pass, C-30 Corridor market, which I'm happy to report is down a VERY healthy 30% two years later, with only 141 homes and 251 lots as of today. I may have dozed off during some of my Econ classes in college, but the one phrase I do remember having beaten into me is that the market is always trying to find equilibrium and we're seeing that dictum in action as more and more sellers give in to the reality of the market place and accept what buyers are willing to offer.

With Georgia having gone back to school action has slowed a little but not much. We still managed to come through with two closings and four new contracts. Only four new listings, but we have fifteen new price changes to browse through.

Our two closings are both waterfront lots, one a bay front lot next door to Scallop Cove on the Cape, and the other a gulf front lot in Money Bayou.

Let's start on the Cape with this bank-owned 50′ x 758′, 0.88 acre beauty of a bay front lot overlooking Pig Island. The bank had it listed for $180,000 and someone snapped up a great deal this week at $175,000. Hard to believe but the county only has it assessed for $101,120 which for bay front property just amazes me. I don't even want to think about what our millage rates are going to do with these assessments coming in so low, but I won't climb up on that soap box right now.

Over to Money Bayou for the deal of the week. Isn't this a gorgeous view? This is a generous size corner lot in one of my favorite areas. It has 65′ of waterfront and has been on the market since 2006 when it was originally listed for $987,000. By the time it went under contract, that price had drifted down to $329,000 and someone stroked a check for $250,000 and went to closing this week. There are opportunities waiting for you in this market climate. You need to let me know if you want in on them.

There's a lot of variety among our four new contracts, the most unique of which is a 26-acre bankrupt development on the Cape, marketed in its hay day as Villa del Sol.

They ran a year-long campaign in Coastal Living of full page, full color ads at the time which I thought was pretty amusing as the artist's rendering of the bay front marina showed sailboats moored there. If you're familiar with the south end of the bay you see the humor in that. On a high tide you might get the tops of your shoes wet. Unfortunately for the developer not many sold as they came in after the market peak and when they ran out of money, the mobile home sales office disappeared and the weeds soon began overtaking the brick pavers at the entrance. Pretty sad considering they had bull dozed one of the most beautiful tracts of land out here, with three towering dune lines running across it which they flattened. Anyway, the bank listed it a few months ago at an even $5M for the remaining unsold properties and someone put a bid it on it this week with contingencies so we shall have to wait and see where it goes.

Our next contract is this former pick of the week, a 6-bedroom, 4,288 square foot gulf front home on C-30 midway between the Cape and Indian Pass. This house has spectaular views and with a pre-foreclosure list price of only $699,000 it is a lot of house for the money. The lot alone prior to construction sold in early 2007 for $926,000. The list is only a bit above the county's assessment of $622,892.

Several miles west on C-30 over in Simmons Bayou our third contract is on a 3-bedroom, 2-bath 1,244 square foot bay view home which was recently renovated and put on the market for $179,900. Years ago this house used to be out on the Cape not too far north of Stumphole. It was moved to its present location about the time two guys from Canada came down and built a gulf front restaurant in the same stretch. They didn't make it in the restaurant business, it closed and was eventually sold to the Tourist Development Council who moved that building to its new home on the waterfront by the marina in Port St. Joe.

Our fourth and final new contract is on a first tier lot in Indian Palms in the Indian Pass area. It's a 65′ by 150′, quarter acre lot with tremendous views of the gulf and a very attractive list price of only $159,900, which is pretty close to the $140,000 assessment. It last sold in December 2005 for $575,000. Ouch.

I had no problem selecting a Pick of the Week from our four new listings.

Wanna be my neighbor? Then make an offer on this 100′ wide gulf front lot in my neighborhood, Cape Breezes. With a list price of only $474,900 how can you say no? You've seen today how conservative the county's assessments have been, and even they say that's low as they have it valued nearly 50% higher at $640,000. This lot also used to have a house on it, "Do Me Good" was its name, and the previous owners moved it to a new home when they sold this lot in 2005 for $1.2M. Wow.

Another easy Pick of the Week from our fifteen price changes.

If you've been reading ths column for any length of time, by now you must know I LOVE this cottage style, first tier home in Money Bayou which I've featured several times. I have NO idea why it hasn't sold yet. The views are Florida post card perfect. It's a 3-bedroom, 3 1/2 bath jewel waiting to be be someone's favorite new beach cottage. It was built in 2004 but looks like a classic 1940's era beach retreat, with bead board paneling, an easy going soft palette, period appropriate fixtures and beautiful hardwood floors. This week they've reduced it to $411,00, a far cry from its original list in April 2008 of $599,000, and even below Kes's estimate of $472,495. If you've been looking for the perfect coastal get away, you have to get in touch with me.

That does it for this week. There are a lot of good deals out there so call me if you're interested in investing in some. You can call me toll free at 877-512-9366 or shoot me an email to Sherri@SherriDodsworth.com . Hope you have a terrific week - I'm off to show property for the rest of the afternoon. Thanks for stopping by today.

Cape San Blas Real Estate Week In Review - August 15-21, 2009

Sherri Dodsworth PA (Boardwalk Realty of NW FL) — Sun, 23 Aug 2009 11:24:08 -0500

Georgia went back to school and the Cape's a quieter place this week. No closings, but there were enough people around to write up six new contracts, so all in all, another good week. Our inventory crept back up by 12 to a total of 399 active MLS listings in the Cape San Blas, Indian Pass and C-30 market, with 145 houses and 254 lots. In other activity we have sixteen new listings and twenty-one sellers did a reality check and lowered their prices.

Buyers were shopping for foreclosures and short sales this week as we have three of each under contract.

First up is a short sale we've seen here before, this custom 5-bedroom, 3-bath, 2,660 square foot townhouse at Barrier Dunes which had another contract a few weeks ago that failed. Originally listed in April 2008 for $499,000, it went under contract again on Monday with a list of $315,000. The home last sold for October 2007 for $382,500 and is currently assessed by the county at $334,895.

Next up is a bank-owned home out on C-30 by Treasure Shores. It's a 3-bedroom, 3-bath, 1800 square foot home designed by architect Gordon Mock whose work is also seen at Windmark. I think the only reason this lovely home never sold in all the time the owners had it on the market was the guiding rule of real estate: location, location, location. It's located on the north side of C-30 across the street from Treasure Shores and just doesn't have the views most people in this market want. Built in 2004, the owners paid $695,000 for it in late 2005, and put it back on the makret in mid 2007 for $645,000 but never attracted a buyer. The bank recently took it back and listed it for $359,900 which the county thinks is high, their estimation of value being a mere $296,669. It'll be interesting to see who's estimate was closest.

Back on the Cape on Rachel Beach Lane just north of Scallop Cove our second short sale went under contract Monday with a list price of $495,000, almost dollar for dollar of Kes's assessment of $491,419. It's a first tier, 3-bedroom, 3-bath, 1,70 square foot home built in 2002. The sellers bought it the summer of ‘04 for $769,000 and put it back on the market the following summer for a cool $1.2M. Doesn't hurt to ask.

Our third short sale of the week takes us just a little further up the road to Sea Grass where this 4-bedroom, 4 1/2 bath, 3,789 square foot spec home bult in 2005 went under contract on Tuesday. It was built in 2004 as a spec home on a lot the owner paid $385,000 for in late 2004. When they finished bulding it in January 2006 they put it on the market for $1.295 but that bus had left the station by that point and it has languished in the MLS ever since, its list price wasting away to its current anorexic list of $499,900 which was finally low enough to attract an offer. Even Kes thinks this one would fetch more like $655,829.

We travel south down Cape San Blas Road to just north of Stumphole for our next bank-owned home, this one a gulf front, 4-bedroom, 3 1/2 bath 1,723 square foot house built in 2001. It last sold in early ‘05 for $989,000 and the owner tried to flip it for $1.295M in January 2006 but we know now that price wasn't going anywhere but down. Down and down it went with the bank finally taking it back and it went under contract on Tuesday at a list price of $445,625, which is considerably more than the county thinks it's worth, their assessment being a modest $377,740.

We're travelling all the way over to Simmons Bayou for our sixth and final new contract, this one also bank-owned. It's a 3-bedroom, 2-bath 1,620 home which was only recently relisted for $199,000. The county has it valued much lower at $110,431, but I don't think that assessment reflects the extensive renovation which was just completed on the home. For those of you who go way back here locally, this house was moved onto its current site a couple years back, and used to be the offices for Newman Construction located next to Presnell's fish camp.

Selecting a pick of the week from our sixteen new listings is simple this time. Check out this beautiful 61′ x 460′ gulf front lot at Indian Pass for only $269,000.

There are lovely homes along this stretch of Indian Pass Road, and this site would be a wonderful setting for your dream bach home.

I'm in a gulf front mood today and my pick of the week from our twenty-one new price tags is a gulf front lot over on the Cape which was reduced from an already atttractve $439,000 down to $389,000. How would you love to have this for your front yard?

Can't you just feel that sugar white sand between your toes? This is located just a little bit south of Scallop Cove. There is a first tier lot between this one and the road. Here's an aerial from the county's records showing the outline of this property.

That does it for this week. Buyers are out there and if you've been thinking of selling or buying, I want to be your Realtor, so give me a call at 850-227-7891 or send me an email to Sherri@SherriDodsworth.com and let's talk. Thanks so much for checking back today.

Foreclosures and Short Sales

Sherri Dodsworth PA (Boardwalk Realty of NW FL) — Fri, 21 Aug 2009 20:35:40 -0500

I tried to get most of the work done on the weekly update today, but ended up showing property until 7 pm and Saturday morning have another appointment to show right at 9 am followed by an afternoon showing which will also looks as if it will go late so we're looking once again at Sunday for the weekly update. I hate to disappoint my regular readers but this is a good problem! Buyers seem to be sensing that now is a good time to get in on the action with so many good investing opportunities all around. My phone and email in-box have been melting down recently.

I don't want to leave you empty handed so until I can post the week in review on Sunday, here is a link to Foreclosures and Short Sales in the MLS. Happy hunting! And be sure to call or email me if something catches your eye. 850-227-5197 or Sherri@SherriDodsworth.com .

Picks of the Week for August 8-14, 2009

Sherri Dodsworth PA (Boardwalk Realty of NW FL) — Mon, 17 Aug 2009 18:36:32 -0500

Luckily Miss Claudette turned out to be a big rain event only, dropping over 9 inches on the Cape during her approach and visit. 50 mph gusts for a couple hours on Sunday around dinner time and a power outage that lasted only long enough to force a candlelight dinner. That's pretty much my definition of The Perfect Storm. Back to normal today, and it was the "new normal" of so much going on working with buyer requests that this column which yesterday I promised to have out this morning is arriving early evening.

Turns out we have another week where sellers just don't seem to get that buyers are refusing to pay inflated prices, and if you put it out there with an unrealistic price it isn't going anywhere. That said, I can't find anything among our six new listings worth stopping the presses for. There is, however, a shining star within the pack of nine new price tags.

How's this for a view from your gulf front home? It looks even better when you consider the price has been reduced from $999,000 to $749,000? Here's the 411:

Beautiful 2880 square foot, 6-bedroom, 5-bath gulf front home built in 2006 which you approach via a brick paver driveway lined with oyster shells landscaped with palm trees, sea oats, and flowering shrubs.

Three levels with an elevator, gas fireplace, living area with gulf front balcony, bamboo floors and blinds, and kitchen with high end appliances and granite countertops.

Tastefully furnished with everything you need for a turn-key income-producing property or family beach get away.

Hardie board siding and galvanized roof afford low exterior maintenance. Private well feeds the sprinkler system.

Interested in finding out more? Call me at 850-227-5197 or send me an email to Sherri@SherriDodsworth.com and I'll be glad to help.

Cape San Blas Real Estate Week In Review - August 8-14, 2009

Sherri Dodsworth PA (Boardwalk Realty of NW FL) — Mon, 17 Aug 2009 18:34:24 -0500

Maybe it's all the rain we've had, but suddenly buyers are mushrooming all over the place. I feel like I've time travelled back to 2004 when it seemed we were cranking out contracts 24/7. This week I've had back to back to back appointments for showing property, which is why this is a Sunday rather than a Saturday review. People are definitely in a shopping mood again, and this week we had three sales and a whopping nine new contracts, an all time high since I started this blog two years ago. In other activity we had six new listings and eight sellers trying new price tags (NOTE: I didn't forget this link - for some reason the MLS is acting up when I try to retrieve it). With all this, our inventory took a healthy dip ending the week at 387, down seven from last week, with 149 homes and 238 lots for sale in the MLS in the Cape San Blas, Indian Pass and C-30 Corridor Market. We've got a lot of territory to cover today so let's get started.

Nice variety in our three sales, with a gulf view home, a gulf front lot, and a pre-construction package on a gulf view house. The only thing they had in common is they're all located on the Cape.

Let's start with this bank-owned gulf view home on Cape San Blas Road in Ocean Haven. It's a 4-bedroom, 3-bath, 2,957 square foot spec home which the developer was never able to find a buyer for after he finished it in 2007, when it came on the market with a list price of $1.25M. The bank foreclosed on it last December and when it went under contract the list price was $499,000. It sold on Wednesday for $470,000, real close to the county's assessed value of $461,961.

Over in Jubilation on the south side of the Cape somebody got a sweet deal on this 52′ wide gulf front lot listed for $875,000 as a short sale. Jubilation is the first of two premier subdivisions on the Cape done by Ashwood Development of Atlanta and they are first class all the way. This lot last sold back in late 2004 for $1.695M; today the county has it assessed at $330,000. Amazing. Anyway, our savvy investor picked it up on Wednesday for an even $500,000.

No photo for our pre-con sale but it's in San Dunes subdivision, another nice project with lovely landscaping and finishing touches. According to the MLS, for $444,000 our buyer is going to get a 4-bedroom, 3-bath 2436 square foot home built at the entrance to San Dunes.

Encouraging trend when we look at what buyers are feeding on in our nine new contracts. 2:1 it was land they wanted with six lots and only three homes having brought them to the negotiating table. When we start seeing demand for land again it's a sure sign we're on the road to recovery.

We'll start towards the northern end of the Cape and work our way south. First stop: a bay front beauty 2+ acres and 100′ wide just a bit south of Rish Park with a current list price of $369,000. In February 2005 it sold for $780,000, and just seven months later in September it resold for $1.495M. And what does the county think it's assessed value is? Try $200,000.

A few blocks south in Ocean Have this 4-bedroom, 5-bath bank-owned gulf view spec home caught somebody's eye. And why not? At $595,000 it's priced pretty close to the assessed value of $535,985 so I'm curious to see just how close it comes in at closing. This house was originally listed in January 2007 for $1.25M but had no takers, and finally went to foreclosure last December.

Our third contract was another waterfront, this one on the Gulf on Clearwater Drive in little Dolphin Beach to Bay subdivision. This is a pretty good size lot, measuring 54′ by 512′ or roughly 0.64 acres according to the MLS. It's been listed since January when it came on the market at $549,000, and it went under contract on Monday listed at $439,000, well above the $330,000 assessment. Hopefully this seller will be ok, having owned it since mid 2002 when he purchased it for $390,000.

On down the road to Antiqua to this 3-bedroom, 2-bath 1290 square foot gulf front "condo" (in name only) which caught someone's attention with its $259,900 price tag. This is a short sale having last sold in early 2005 for $315,000. The owner put it back on the market just a year later in April ‘06 for $485K. Our county's estimate is $231,195.

Lots, lots, lots - I'm loving this! Next up is a lovely 50′ by 220′ gulf first tier parcel on Rachel Lane which just came on the market last week with a list price of $175,000, well below the assessed value of $227,500. This is a short sale, having last sold in 2004 for $500K. The fact that this went under contract so soon out of the gate at below assessed is worth noting.

All of a sudden Piney Woods subdivision on the south side of the Cape is seeing some action and this week we have yet another new contract there, this time on a 60′ by 100′ first tier setting. There was another lot sold in here just a few weeks ago. I couldn't locate any pertinent sales history data on this one. The seller listed it in July for $69,000, way below the county's $100,800, so once again, as we just saw on Rachel Lane, the trick to going under contract quickly seem to be trending towards coming in below where the county has it set.

We're finally heading off the Cape, taking a right onto C-30 and heading just a couple hundred feet down the road to Curve at the Cape subdivision on the gulf side where FINALLY this 59′ wide gulf front lot listed for only $220,000 is under contract. I cannot believe it has taken someone this long to step up to the plate for this property. I have all but begged a number of people to check out this terrific value. Even the county thinks it's worth a heck of a lot more - like $356,700. It's been on the market some time, launching in July last year at $399,000 which, having last sold in mid 2004 for $640,000, explains its short sale status in the MLS. I can't wait to see what it goes for. Can you say "Comp Killer"?

We'll cruise about a mile east on C-30 to Money Bayou for our sixth and final lot contract, yet another gulf front, this one with a $329,000 price tag which almost matches the county's tag of $340K. Hard to believe that as recently as May 2006 the property sold for $987,000. The swiftness of this market correction has just been unimaginable.

We've made it to our ninth and final new contract of the week - a short sale on Indian Pass Road in Mystic Palm subdivision listed for $449,900. This is a pretty home with 3 bedrooms and 3 baths and is 2298 square feet, originally listed in October 2006 for $850,000. The county has it valued at $334,857 so let's see who comes in closer at closing: the listing agent or Kes.

I don't know about you but I'm wiped out. Twelve properties is plenty to digest in one day so I'm going to save our picks of the week from our new listings and price tags for tomorrow. Be sure to check back. And if you want in on some of this action just let me know. Call me on my cell at 850-227-5197 or shoot me an email to Sherri@SherriDodsworth.com . Thanks for hanging in there with me today - hope to see you back tomorrow.

Cape San Blas Real Estate Week In Review - August 1-7, 2009

Sherri Dodsworth PA (Boardwalk Realty of NW FL) — Sat, 08 Aug 2009 08:53:01 -0500

What a difference a week makes. This week was as hectic as the last was quiet and we have a lot of territory to cover, with four closings and five new contracts. Now that's some serious activity! Our inventory is once again moving in the right direction, downward, coming in at 394 (152 houses and 242 lots), down four from last week, for sale in the Cape San Blas, Indian Pass and C-30 Corridor market. In other activity, we have five new listings, ten new price tags, and fourteen expired unsold.

We'll start our review of our four closings over on Indian Pass where this 2-bedroom, 2-bath, 1,224 square foot cottage built in 1988 sold. This was a short sale with the house listed for $224,900 and the adjacent lot advertised for $99,000. Our buyer purchased the house and the lot for $266,014 using conventional financing. This property last sold in April 2005 for $635,000 and is currently assessed by the county at $247,771, so County Property Appriaser Kesley Colbert was real close on this one.

Now back along C-30 to Gulf Pines subdivision where this 4-bedroom, 4-bath, 3,019 first tier home built in 2004 sold for $587,500, also with conventional financing. This is a lovely home, with an in-ground pool and awesome gulf views. The sellers purchased the undeveloped lot in 2000 for $85,000 and built the home. It's been on the market for some time now, with the list price peaking in August 2007 at $1,000,500, and finally reaching $625,000 when it went under contract.

Just up the road a bit we'll stop at Money Bayou where this little Key West-style cottage finally closed this week having already failed two other times with previous contracts. The third time truly was the charmer here. This is a short sale, having last sold in July 2005 for $630,000. It has been listed for a long time at a very attractive $299,000 and I have been amazed it has stayed on the market as long as it has. It's a 2-bedroom, 2 1/2 bath 739 square foot first tier beach cottage with wonderful gulf views from throughout the home. The buyers got a terrific deal, picking it up for an unbelievable $265,000, only slightly above the county's assessed value of $249,449.

Our fourth and final sale is a bank-owned 38′ wide gulf front lot over at the Cape with a list price of $239,000 which sold for $159,500 cash, way below the county's assessed vlaue of $228,000. I am curious to see what the buyers plans are for it with it being such a narrow lot. It has been permitted for a duplex previously and that is what once stood on the property.

Now for our five new contracts all of which are on the Cape and which include a variety of properties: two single family homes, an interior townhouse at Barrier Dunes, and two lots, one gulf front, one interior. We'll start at the south end of the Cape and work our way northward.

First up is this very nice gulf first tier home in the Two Palms subdivision which is a very pretty neighborhood just past Salinas Park as you drive onto the Cape. This is a 3,100 square foot, 4-bedroom, 4-bath home which last sold in January 2004 for $518,000 and went under contract again this week as a short sale with a list price of $567,000. It had a contract with contingencies back in June but that one didn't work out. The sellers first put this house on the market in July 2005 with a $1.195M sticker price. The county's assessed value is $468,248, so I'll be curious to see what it actually sells for.

Just a few blocks further up the beach is a gulf front home on Moonrise Drive which is the road right next to Loggerhead Grill (Beachcombers to you old timers) and which winds its way back to this 3-bedroom, 2-bath, 1,474 square foor beach house on a generous 1.22 acre lot. The MLS notes indicate the lot measures a respectable 66′ x 808′. This place is really tucked away and needs some sprucing up but with a list price of only $399,000 someone's going to have a great escape to the Cape at a very sweet price. It's priced well below the county's assessed value of $483,928. The view from this place alone is well worth $399,000. Check it out:

Since it's a short sale there are contingencies to be met so no idea when this may actually lose.

And now for something completely different, a bank-owned interior lot in nearby San Blas Plantation (the subdivision where my office is located) listed for a give-away price of $44,000, no where near the county's assessment of $240,000. (Sorry, Kes, you've been doing pretty well today up to this point . . . ). The bank's taking a bath on this one since it last sold in December ‘04 for $240,000. Ouch. This one's going to be a real comp killer, but oner person's comp killer is another person's steal of a deal.

Just a couple blocks away in beautiful Jubilation subdivision this 52′ wide gulf front lot with a list price of $875,000 and an assessed value of $312,000 is our third contract of the week. Good to see contracts being written on land. I really couldn't determine from the records the actual sale price of this property when the buyers purchased it as it was bundled with another property, also in Jubilation. The developer of this subdivision, Ashwood Development out of Atlanta, has really done a commendable job of maintaining this property. I noticed the other day that they've recently added a fresh coat of paint to the pool house. Very nicely done.

OK - we're traveling about 8 miles north to Barrier Dunes for our fourth and final new contract which is on a 1-bedroom, 1 1/2-bath, 1164 square foot townhouse with a bit of a gulf view from the upstairs bedroom, but none from the main living area downstairs. It has a list price of $214,000 and last sold in mid 2002 for $162,500.

Folks, I really, really searched our new listings and I'm just not seeing anything lip-smacking enough to recommend as a pick of the week so I'm not going to select something mediocre just for the sake of having one. My litmus test for handing out these titles is for them to be properties I would be excited about adding to my portfolio. Not seeing it this week.

Totally different story with our ten price changes, though, where one house made me sit up straight and pay very close attention.

This is a short sale on a gorgeous bay front home on Cape San Blas located about 500′ north of Scallop Cove BP, and this week it drops from $565,000 to $499,900. It's situated on a 50′ bay front lot, has a shared dock, and deeded gulf access. With 2,525 square feet under heat and air, and a total of 5,135 square feet when you add the decks and two large screened porches overlooking the bay, there's plenty of room for everyone to enjoy being at the Cape. It has 4 bedrooms and baths, and a humongous garage with a spacious second story bonus room. Here's the view from the living room porch:

The last bay front house to sell on the Cape was just a few months ago on a home in Cape Breezes which was much older than this one and that sold for $425,000. This one has a much better kitchen, flooring, and attention to detail throughout.

Wow! What a marathon today. Thanks for hanging with me through this maze of properties. Things are definitely picking up, and if you're ready to sell or buy I hope you'll let me know. My toll free number is 877-512-9366 and you can always reach me by email at Sherri@SherriDodsworth.com . Have a terrific weekend.

Barrier Dunes Update For August

Sherri Dodsworth PA (Boardwalk Realty of NW FL) — Sat, 08 Aug 2009 08:49:01 -0500

I've decided to do this update monthly rather than weekly so we'll do it on the first Friday of each month. No sales since our last update on July 3, but there have been a few price changes. Currently there are fifteen townhouses for sale in the MLS, ranging in price from $184,500 for a park-side unit to $625,000 for a gulf-front townhouse.

Cape San Blas Real Estate Week In Review - July 25-31, 2008

Sherri Dodsworth PA (Boardwalk Realty of NW FL) — Sat, 01 Aug 2009 08:10:46 -0500

After a string of weeks with better-than-average activity, things finally came to a halt this week and we had the slowest week in real estate we've seen in some time. No closings, only one new contract, a measly two new listings, but an impressive fifteen price changes. Our inventory took a nice dip, down seven from last week falling below 400 again to 398, but I suspect that's a result of listings expiring on the last day of the month, many of which will likely renew sending us back up over 400+ by next week. But as of today our MLS has 155 homes and 243 lots listed for sale between Cape San Blas, Indian Pass and the C-30 Corridor. With only nine sales in the month of July, thats over a 3 1/2 year inventory we're looking at. Definitely better than it's been but still not good.

Our one new contract is on a 3-bedroom, 3 1/2 bath, 2700 square foot gulf front home at Secluded Dunes. This home was foreclosed on some time ago and has been on the market since November 2006 when it was originally listed for $1.048M. In mid-June the list price finally reached $699,000 and that was the price point that attracted an offer. There are contingencies to be met so no known projected closing date.

Neither of our two new listings merit the honor of New Listing Pick of the Week so we'll look for the "wow" factor among our fifteen price changes where I'm going to go with a bay front commercial lot reduced to an attractive $250,000.

This is right near the turn off onto Cape San Blas Road and measures 100′ wide by roughly 300′ deep, for a total of about 0.69 acres. It has a dock permit good through 2010, electricity on site, and a shallow well for irrigation. The views from the property are awesome, and it is studded with beautiful Florida palm trees, so this would be a postcard setting for a small roadside cafe or open-air eatery or watering hole of some sort. This aerial shows it's a good dry lot:

Time to go show property so I'm out of here for now. Working hard to generate contracts so we'll have more to talk about next Saturday. Let me know if you're interested in buying or selling - my cell phone is 850-227-5197 or shoot me an email to Sherri@SherriDodsworth.com. And if you're in the area, stop by and say ‘hello'. My Boardwalk Realty office is at 1252 Cape San Blas Road, about a mile from the turn off onto the Cape. Have a great weekend, and thanks for stopping by today.

Cape San Blas Real Estate Week In Review - July 18-24, 2008

Sherri Dodsworth PA (Boardwalk Realty of NW FL) — Sat, 25 Jul 2009 09:17:50 -0500

It's been another busy week around the Cape with lots of people in to look at property. I did manage to sneak away for a few hours, though, and get in some much needed kayaking and fishing on Thursday. Good to be reminded of why we live here. Apparently a few folks decided they want to be here as well, as we had two sales and two new contracts this week. Our inventory nudged down by two ending the week with a total of 405 active MLS listings in the Cape San Blas, Indian Pass and C-30 market, with 157 homes and 248 lots for sale. Only three new listings, but thirteen new price tags.

Both of our sales this week were houses on the Cape, one a gulf front duplex and the other an interior single family home. Let's start with the gulf front which is one half of a duplex on Cancun Drive, just a little north of Scallop Cove.

This is a bank-owned 2-bedroom, 2-bath, 1120 square foot bona-fide fixer-uppper listed for $210,000, even though it last sold in early 2005 for $519,800. The bank clearly wanted to move this one off its books as they let it go on Monday for $170,000 cash. I was in this place several months ago and it needs some serious TLC. This listing was not in our MLS but was added for comp purposes upon closing.

Our second sale is an interior property up in Peninsula Estates, just south of the state park, and this place is in good shape, not at all a fixer upper. It's a 1,660 square foot, 2-bedroom, 2-bath home built in 1987 listed for a very reasonable $217,000 and sold on Wednesday for $184,000 with seller financing and the buyer paying all closing costs. I think our seller did ok here for the most part, having just bought it in March 2007 for $190,000. We've seen worse.

Both of our new contracts were also houses, and they couldn't be more different from one another. One is an estate-quality bay front beauty on the Cape, the other is a modest classic slab on grade cinder block throwback to the fifties over in Money Bayou, and that's where we'll start.

Someone's going to have fun restoring this cute little place and have themselves a great weekend getaway only a short stroll from the beach. Located just past the little bridge in Money Bayou on C-30, it's a good size 2,113 square foot, 2-bedroom, 2-bath home built in 1955 and listed as a short sale at $140,000. Since it's a short sale there are contingencies so no projected closing date noted.

Now to the totally opposite extreme for our second contract of the week. This is a stately 3,455 square foot, 3-bedroom, 4- bath bay front beauty of a home situated on 2+ acres on Cape San Blas, with 130 feet of bay front. It's across the street from Seagrass subdivision, or about 3-miles south of the state park entrance, 1 mile north of Scallop Cove. Here is a detailed description from the MLS notes:

This home features an elevator, two master suites, 10′ ceilings, a bunk room, a media room, a weather station, Corian counters, 2 fireplaces, and 2 living rooms. Storage galore with apprx. 1000+ sq. ft. for boat & related water sports gear. Easily accessible to the shared dock on the Bay. Local architect designed the south master suite. The home also features two master bedroom areas each with large tiled bathrooms with double sinks, whirpool tub, large walk-in closets, and abundant natural light. Storage througout the house with great closets, and a dream kitchen. Built-in grill in the sun-room overlooking St. Joseph Bay. Ample parking for at least 4-5 cars. The entire lot is 2 acres plus with room on the road front for a guest cottage or small shop. The screened porch is tiled and fully decorated, and features a fireplace. The quality and space in this home is unique for our area.

The sales data on the property appraiser's page is inaccurate so I don't have a record of what it actually last sold for, but it's current list price is $925,000. This contract also has contingencies to be met so no estimated closing date.

Only three new listings this week and none of them launch with prices that blow my socks off, so we'll look instead to our thirteen new price tags for excitement, and there we definitely have a Pick of the Week contender, and it's one we've seen before as a pick of the week.

My pick is this 59′ x 473′ gulf front lot in Curve at the Cape, a small subdivision on C-30 just east of Cape San Blas Road, which was listed for an already attractive $224,900 and goes to an even sweeter $220,000 this week. I'm mystified as to why this lot hasn't sold yet. It originally sold in September 2003 for $490,000, then resold to our current owner in April 2004 for $640,000. The MLS doesn't say this is a short sale, though. The county has it assessed at $356,700. You can get yourself a real deal here so call me.

That does it for this week. If you're interested in buying or selling, or just wanting to know the best spots for scalloping, give me a call at 850-227-7891 or email me at Sherri@SherriDodsworth.com . I'm enjoying hearing from so many of you. I hope you have a terrific weekend (my schedule is filled with back-to-back appointments for showing property both days). As always, thanks for stopping by

Cape San Blas Real Estate Week in Review - Week of July 4-10, 2009

Sherri Dodsworth PA (Boardwalk Realty of NW FL) — Sun, 12 Jul 2009 11:13:26 -0500

We had a water-logged start to the week with heavy rain all day Monday, Tuesday and the better part of Wednesday, but the rain apparently wasn't enough to dampen buyers' appetites for real estate as we managed to have a respectable showing, with one closing and four new contracts. I was sorry to see our inventory jump right back up to 409, where it had been hovering; seems our dip below 400 to 398 last week was brought back up by sellers renewing a slew of listings which had expired at the end of June. Anyway, we end the week with 163 homes and 246 lots listed in the MLS in the Cape San Blas, Indian Pass and C-30 Corridor market. In other activity, we add eight new listings, and have ten new price tags. Now that we've finished with roll call, let's see what folks were interested in.

First up is our solo sale of the week. Somebody got a great gulf view lot up by the State Park on the Cape for a great price. This roughly 0.46 acre lot last sold in February 2004 for $265,000 and came back on the market in May 2006 with a list price of $450,000. No takers at that price so they took it off the market for three years, finally relisting it this past February for $150,000. When that didn't do the job either, they dropped it to $99,000 in mid-April and that was enough to get them a contract, on which they closed Tuesday for $80,000.

Our first of four new contracts actually went under contract on June 30th but didn't appear in the MLS until after last weekend's update. It's a 38′ wide gulf front lot on Cape San Blas in Barefoot Trace listed for $239,000. It used to have a duplex on it some years ago, and is currently permitted for that use as well. There were initially contingencies which have apparently been met as its status changed to pending this week with a projected closing date of July 30. With the 9 1/2′ side set backs which have to be met, without buying the adjacent lot and rebuilding a duplex, the most you could build at this width would be a 19′ wide shotgun style home.

We head just a few blocks south to just north of Scallop Cover where this bank-owned 50′ wide bay front property listed for $180,000 went under contract on Tuesday with a projected closing date of August 31. This is one to watch to see what it actually sells for as the county has it assessed at a surprisingly low $101,120.

Over on the south facing beach at the Cape in the lovely Two Palms subdivision this short sale 3100 square foot, 4-bedroom, 4-bath first tier home with a list price of $567,000 went under contract on Thursday. The sellers bought it in January ‘04 and first put it back on the market in July of the following year for $1.19M. Since it's a short sale there are congencies to be met so no estimated closing date yet.

We leave the Cape and cruise east on C-30 about a half mile past the world famous Indian Pass Raw Bar where we'll find our fourth and final new contract, a 97′ wide lagoon front lot with a very attractive list price of only $85,000, a price well below the county's assessment of $100,800. The waterfront lots along this stretch have such incredible views.

My Pick of the Week from our eight new listings takes us back to my neck of the woods where my neighbors at Ovation have just listed this interior lot with gulf and bay views for only $110,000. I like it because it has so much going for it: it's located in The premier subdivision on the Cape, there are so many amenities which come with ownership, such as access to the stunning bay front club house with its infinity pool overlooking St. Joe Bay, exercise room, gulf side pool, tennis courts and more. (It's worth noting that the county apparently is calculating a lot of value into those amenities as well since they've assessed this 0.12 acre interior lot at $130,000 while assessing the 0.88 acre bay front lot we looked at earlier for a much lower $101,120). Ashwood Development has done a commendable job in maintaining this project despite completing it just as the market tanked. Some lovely homes have already been built to the architectural standards of the covenants. This lot last sold in October 2005 for $235,000.

My Pick of the Week from our ten new price tags finds us back over at Indian Pass where this 48′ wide is being offered as a short sale for $279,000, once again below the county's assessed value of $300,000. According to the MLS:

Beautiful gulf front lot comes complete with fully engineered plans and DEP permits for a 2,700+ sq ft 4BR 4.5BA home with private gulf front pool. Feel confident that you can get that pool seaward of a house on this lot.

If you're familiar with the Pass, this lot is just up the beach from the beautiful Turtle Beach Inn.

That does it for this week. I hope you enjoyed your visit and that you'll make yourself a regular here. If you'd like additional area real estate information, please feel free to call me at 850-227-5197 on my cell, or shoot me an email to Sherri@SherriDodsworth.com . Thanks for stopping by.