Sanibel Luminary & Island Real Estate


After what I hope was a nice Thanksgiving for everyone, it is SanibelSusan reporting that it has been a busy few days at SanibelSusan Realty. Two listings are under contract, one my sale, plus another sale, and another offer or two in the pipeline. Teammate Dave is busy with the closing action items, while our pals at Barrier Island Title likewise are busy, working on getting some of them closed by the end of the year. Last night, I posted a new listing on MLS too, so Teammate Elise is busy this morning with that one.

Very Thankful.pngWe are thankful for the nice, yet unexpected, spurt of activity!

Tonight is Sanibel Luminary, the 32nd year. For those here, below is a summary.

museum-luminary-2015Sanibel Historical Museum & Village from 3:30 to 5:30 p.m. with a 50’s theme, will have holiday tunes performed by the Sanibel Ensemble (good practice for our upcoming concert), followed by a brass ensemble.

Flash mob inside Bailey’s General Store 5 to 5:30-ish (more of those chorus singers).

Then 5:30 to 9 p.m., lit paths marking the Luminary Trail will lead the way to merry landmarks from one end of Periwinkle Way to the other.

247There will be lots of events at shopping centers and businesses along the way; but no trolleys this year, it really will be a stroll. Mid-island, thousands of lights are sparkling at the Sanibel Community Church where there will be food, drink, live music, a petting zoo and kid’s tent, plus a presentation of “A Walk Through Bethlehem”. Next door, Santa will be at Jerry’s Center. At the East end, Sanibel Sea School and the San-Cap chapter of Solutions to Avoid Red Tide have lots of luminary fun planned in the school parking area.

Tomorrow evening is the Captiva Luminary event, also from 5:30 to 9 p.m., on Captiva Drive and Andy Rosse Lane, with plenty of treats at various businesses and with several bands performing in the Village.

big arts logoAdding another event, if you are on-island, is the BIG ARTS Community Chorus Holiday Concert Tuesday evening (12/6) at Schein Performance Hall at 7 p.m. Tickets available at the box office. (Come to hear my first solo, it’s three words!)

Below after a couple of additional news items is the action posted this week in the Sanibel & Captiva Multiple Listing Service.

Sanibel & Captiva Islands Association of Realtors®

Sanibel realtors logoThere was a big turn-out yesterday at the islands’ Thursday morning Association of Realtors® Caravan Meeting. I was happy to announce our new sales and new listings. During the following 9 a.m. to noon, Realtor® Caravan our Open House at Hight Tide was successful and Dave/Elise worked on the inventory too. Next week is West-End Caravan, followed by the monthly membership meeting and East-End Caravan on 12/15, when we will have another new listing open.

Water Improves on Sanibel

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Nice to read this article in the December issue of “The Junonia” by The Sanibel-Captiva Shell Club, Inc.:

“If you were on the beach during Thanksgiving week you may have noticed how clear the water was in comparison to earlier in the season…Just west of Lighthouse Beach…people were in waist deep water and bending over to pick up shells they saw on the sandbars. Many live shells and sand dollars were observed. Likewise, live animals could be seen on the beach and in the shallow waters. It was satisfying to watch people turning shells over and then returning them to the sand or water when they discovered they were alive.”

SanibelSusan’s 2-cents worth:

The clear water likely is weather and rain-related. After setting rain records early in the year (wettest January ever), it is obvious from the yellow grass along island roadways, that it is very dry here now. News reports say that since Hurricane Matthew in mid-October, which was Florida’s first hurricane in more than a decade, the rainy season essentially stopped, though it had been an unprecedented 53+” of rain in ten months. Since they, we have seen little if any precipitation in some areas of the island.

This lack of rain has allowed the Army Corps of Engineers to get the water level under control on Lake Okeechobee, which has meant fewer and lower-volume water releases coming down the Caloosahatchee.

Mother Nature has treated Southwest Florida well this year. Let’s hope the clear water stays!

2017 Sanibel Beach Parking Permits

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2017 Sanibel Beach Parking Permits may be purchased at the Sanibel Recreation Center seven days a week during operating hours (Mon through Thurs 6:30 a.m. to 8 p.m; Fri 6:30 a.m. to 6:30 p.m.; Sat 8 a.m. to 5 p.m., & Sun 12 p.m. to 5 p.m. To qualify for any Beach Parking Permit, bring a valid vehicle registration for each vehicle AND a valid government-issued identification. Permits are valid through 11/30/2017. The permit decals and fees are:

“A” Resident/Property Owner $12 – A driver’s license showing a Sanibel address or proof of Sanibel property ownership is required to purchase a resident/property owner “A” sticker. Beach Access Lots 1 through 7 on West Gulf Dr require “A” permits.

“B” Non-Resident Permit $99

“C” Restricted Permit $90 (resident & non-resident) – “C” permits are required at Gulfside City Park (Algier’s), Boat Ramp & Causeway Parking Lot (or general parking at $4/hour).

“A/C” Resident/Property Owner Permit $102

“B/C” Non-Resident Permit $198

Time to File For Florida Homestead Exemption

LeePALogoThe time to file new Florida Homestead Exemptions is coming up. It’s January 1 to March 1. Wondering what the Homestead Exemption is? From www.Leepa.org:

“Homestead Exemption is a constitutional benefit of up to a $50,000 exemption removed from the assessed value of your property. It is granted to those applicants who possess title to real property and are bona fide Florida residents living in the dwelling and making it their permanent home on January 1. Documentation that proves you were a resident at the homestead property is required.

“Rental of the homestead property (exclusive use by a tenant on a temporary, seasonal or annual basis) constitutes abandonment of the homestead – if you plan to rent, contact the Appraiser’s Office to determine your exempt status.

“Properties granted Homestead Exemption automatically receive the “Save Our Homes” benefit. This is a constitutional benefit approved by the Florida voters in 1992. It places a limitation of 3% on annual assessment increase on Homestead properties beginning with the 1995 tax year.

“For properties granted Homestead Exemption in the prior years, that assessed value will be the base value for the implementation of “Save Our Homes”. Thereafter, the assessed value will not increase more than 3% or the Consumer Price Index, whichever is less. Exceptions to that limitation include new additions or construction that escaped taxation in the past. Another exception would occur when a homestead property sells: the assessed value returns to fair market value in the year following the sale. That fair market value assessment then becomes the base value for “Save Our Homes” purpose for the new owner/homestead applicant.

“You may file for your homestead exemption by mail, in person or on-line at www.leepa.org…”

Sanibel & Captiva Multiple Listing Service Activity Nov 25-Dec 2, 2016

Sanibel

CONDOS

3 new listings: Mariner Pointe #322 2/2.5 $529K, Sunset South #11C 2/2 $599K (our listing), Sundial East #L402 2/2 $749K.

2 price changes: Mariner Pointe #1412 1/1 now $385K, Sand Pointe #113 2/2 now $749K.

5 new sales: Mariner Pointe #522 2/2 listed at $449K (our listing & sale), Sandpiper Beach #504 2/2 listed at $789K, Sundial East #P401 2/2 listed at $899K (our listing), Sanibel Surfside #127 2/2 listed at $1.15M, Gulfside Place #115 2/2 listed at $1.595M (our buyer).

1 closed sale: Sundial #P205 2/2 $745K.

HOMES

3 new listings: 5308 Umbrella Pool Rd 3/2 $625K, 9436 Yucca Ct 3/2 $649K, 1561 San Carlos Bay Dr 3/4 $2.895M.

2 price changes: 9209 Kincaid Ct 3/2 now $479K, 1842 Woodring Rd 3/3.5 now $1.95M.

7 new sales: 671 Rabbit Rd 3/2 listed at $649K, 750 Nerita St 3/2 listed at $699K, 2549 Harbour Ln 3/2 listed at $749.5K, 1559 Sand Castle Rd 3/2 listed at $799K, 1146 Buttonwood Ln 3/3 listed at $975K, 5751 Baltusrol Ct 3/4 listed at $1.05M, 1717 Jewel Box Dr 3/3.5 listed at $2.1M.

4 closed sales: 970 Palm St 3/2 $519K, 1076 Sand Castle Rd 2/2 $575K, 588 Hideaway Ct 3/2 $670K, 3675 West Gulf Dr 3/2 $2.8M.

LOTS

2 new listings: 2998 Singing Wind Dr $199K, 978 Main St $210K.

No price changes, new or closed sales.

Captiva

CONDOS

No new listings, price changes, or new sales.

2 closed sales: Lands End Village #1639 2/2 $1.35M, Seabreeze at South Seas #1253 3/3 $1.497M.

HOMES

1 new listing: 11505 Gore Ln 5/5 $1.895M.

3 price changes: 11537 Laika Ln 4/3 now $1.549M, 11526 4/4 duplex now $1.799M, 14860 Mango Ct 5/4 now $2.34396M.

No new or closed sales.

LOTS

Nothing to report.

(This representation is based, in whole, or in part, on data supplied by the Sanibel & Captiva Islands Association of Realtors® or its Multiple Listing Service. Neither the association nor its MLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or its MLS may not reflect all real estate activity in the market. The information provided represents general real estate activity in the community and does not imply that SanibelSusan Realty Associates is participating or participated in these transactions.)

luminary-116Until next Friday, hope your Luminary Trails are as bright as on the island!

Susan Andrews, aka SanibelSusan

Post-Thanksgiving Sanibel/Captiva Real Estate Scoop


2016-treeIt is SanibelSusan running SanibelSusan Realty solo today while the team gets an extra day off.

Our listings had a few showings earlier in the week, but the phone has rung only a couple of times today. Prospects must be out shopping, enjoying family time or just the beautiful weather. It is a bright sunny 81 degrees here this afternoon.

Teammate Elise’s daughter Payton joined us in the office on Wed. She and Elise got our Christmas decorations up. We have to do that early here, as the first Christmas events begin tonight.

With the Thursday holiday yesterday, we had no Realtor Caravan, but the activity posted in the Sanibel & Captiva Islands Multiple Listing Service since last Friday, follows a few news items.

Purchase Contracts: Is A Deposit Required to Seal The Deal?

Florida Realtors logoHere are excerpts from a good article by friend and FloridaRealtors® Vice President and General Counsel Margy Grant. It was posted Monday at FloridaRealtors® on-line.

“It’s a question we often get on the Florida Realtors® Legal Hotline: Is earnest money required to make a contract legal and binding. The answer: no.

“Deposits are often provided as evidence of a buyer’s commitment to the purchase, but they are not required by law. A binding contract to purchase real estate only requires consideration. Consideration is defined as something of value offered for something else of value.

“According to the Florida Bar, “The formation of a contract is accomplished when there is an offer and acceptance between the contracting parties of the exchange of ‘consideration’ (that is, something of value). This offer and acceptance are sometimes referred to as a ‘meeting of the minds.’ If the parties have not reached a meeting of the minds, then there is no agreement.” In the case of a real estate purchase contract, the consideration the buyer is offering is the purchase price in exchange for the deed to the property.

“Most purchase contracts contain a section to indicate the amount of an escrow deposit and when it’s due. Purchase contracts also usually contain a liquidated damages clause that entitles the seller to keep the deposit if the buyer defaults. Liquidated damages are common in real estate purchase contracts, even though the parties are agreeing what the remedy is for the other side in the event the buyer defaults.

“If you as the listing broker receive a contract that is either cash or 100% financing with a deposit amount of “0,” you must present it to the seller. This contract is valid despite the lack of an earnest money deposit. You may explain to the seller that because there’s no deposit, there is nothing for the seller to keep as liquidated damages if the buyer defaults. Buyers and sellers can negotiate these terms just like all other terms of the agreement.

“Some sellers look at a lack of deposit as unfair. Why, they ask, would they remove their house from the market if the buyer is not serious enough to put down a deposit? A seller certainly may insist on a deposit before agreeing to the contract; this is allowable if the buyer agrees. However, it is not legally required. In addition to a deposit, sellers will also sometimes ask for other requirements like proof of funds or a prequalification letter.

“Transactions come in all shapes and sizes. Realtors® do well to understand some components of contract law to assist them in working with buyers and sellers. All parties should review purchase contracts carefully, preferably with an attorney, to understand their rights under the agreement in the event the other party does not perform as promised.”

Now SanibelSusan’s 2-cents worth:

Here on the islands where Buyers and Sellers may be vacationing and “here today, gone tomorrow”, not only do Sellers want to see deposits, but they usually want them to be significant ones. Sometimes visiting Buyers don’t have their check books with them, so it is not unusual for a deposit to be provided within 3 days of contract acceptance, often by wire, after the Buyer has returned home.

For a typical island sale, the deposit is 10% of the purchase price. Sometimes it is provided in two parts, a smaller initial deposit within 3 days of the contract Effective Date and then a later second deposit bringing the total deposit up to 10%. With the “as is” contract, that second deposit often is related to the end of the inspection/cancellation period, when the contract usually becomes solid.

As the saying goes, “in the perfect world, Sellers want offers to be full price, cash, close tomorrow.” Since the “close tomorrow” part rarely can happen, it makes sense for Buyers to make strong deposits so Sellers give their offers serious consideration.

Upcoming Island Events

artist-clip-art-clipart-of-artistToday & Tomorrow – Nov 25 & 26 – 25th Sanibel Masters Art Festival from 9 a.m. to 5 p.m. at Sanibel Community Park (across the street from SanibelSusan Realty).

BIG ARTS Community Chorus is singing two holiday sets tomorrow morning (Sat) beginning at 10 a.m.

Tween WatersTonight – Nov 25 – ‘Tween Waters Inn Fireworks Show & Tree Lighting kick off the holiday season at sunset, with music, the lightening of the tree overlooking the gulf, and colorful fireworks display.

Tomorrow morning – Nov 26 – 5th Annual “Ding” Darling Kids Fishing Derby at Sanibel Causeway Islands Park (Island A, closest to Sanibel). Kids able to hold their own fishing pole may participate. Registration is FREE and begins at 8:30 a.m. Ages 15 & younger start fishing at 9 a.m & finish at 11 a.m. Awards ceremony at 11:30. Participants should bring fishing poles, but the refuge will provide a limited number of loaner poles. Bait will be provided. J.N. “Ding” Darling National Wildlife Refuge and the “Ding” Darling Wildlife Society – Friends of the Refuge (DDWS) cosponsor the event as part of this year’s Smithsonian Waterways exhibit at the refuge (Oct 28 – Dec 8), with support from The Historic Bait Box, Trophy Case of Fort Myers, Sanibel Island Fishing Club, and Lee County Parks & Recreation.

2016tree_lighting_for_app_and_websiteTomorrow night – Nov 26 – South Seas Tree Lighting Ceremony from 5:30 to 6:30 p.m. BIG ARTS Community Chorus singers will be performing again.

Also tomorrow night – Nov 26 – Sunset Arias on the Beach at ’Tween Waters Inn. Bring a blanket, sit back and enjoy beautiful operatic voices while the sun dips into the Gulf of Mexico.

Dec 2 – Next Friday – 32nd Annual Sanibel Luminary Holiday Stroll

  • luminary 2014.jpgSanibel Historical Museum & Village luminary event from 3:30 to 5:30 p.m. will showcase displays from the 50’s, including a replica of a former ferry’s wheelhouse. There will be music too, including some holiday tunes performed by the Sanibel Ensemble which is a small group of singers from the BIG ARTS Community Chorus. (It’s good practice for our upcoming holiday concert. Photo above from 2014 at the Museum/Village.)
  • Luminary SantaRumor has it that there will be another flash mob inside Bailey’s General Store 5 to 5:30-ish (more of those chorus singers). Then 5:30 to 9 p.m., lit paths will lead the way to merry landmarks from one end of Periwinkle Way to the other, where festival goers can enjoy assorted activities, snacks and refreshments. No trolleys this year, it really will be a stroll.
  • Mid-island, thousands of lights will adorn the campus of Sanibel Community Church where beginning at 5:30 p.m. there will be food, drink, live music, a petting zoo and kid’s tent, plus a presentation of “A Walk Through Bethlehem”.
  • Mid-island, Santa will be at Jerry’s Center with free photos from 5:30-7:30 p.m. There also will be wine, food tastings, Girl Scouts serving soda and hot dogs, plus live sax music.
  • At the East end, Sanibel Sea School and the San-Cap chapter of Solutions to Avoid Red Tide will partner to host luminary fun at the school’s flagship campus. The school parking lot will be converted into a festive patio, where attendees can sip mulled wine and beer, munch on snacks, including Ralph Woodring’s famous grilled mullet, and listen to music. There also will be family-friendly games and activities, and a raffle featuring prizes from both organizations.

Former Captiva LuminaryDec 3 – Next Sat – 32nd Annual Captiva Luminary Holiday Stroll from 5:30 to 9 p.m. Captiva luminary spans Captiva Drive and Andy Rosse Lane with plenty of special treats at various businesses and a variety of bands performing live music throughout the Village.

Sanibel & Captiva Multiple Listing Service Activity November 18-25, 2016

Sanibel

CONDOS

7 new listings: Coquina Beach #5A 2/2 $380K, Ibis at The Sanctuary #B302 3/3 $498.5K, Mariner Pointe #842 2/2 $499K, Sundial West #D305 1/1 $545K, Sand Pointe #215 2/2 $759K, Sundial West #A308 2/2 $809.9K, Sundial East #T306 3/2 $1.475M.

1 price change: Blind Pass #G203 2/2 now $455K.

1 new sale: Sundial West #C310 1/1 listed at $439K.

No closed sales.

HOMES

10 new listings: 998 Greenwood Ct 3/2.5 half-duplex $459K; 770 Donax St 2/2 $525K; 5305 Umbrella Pool Rd 3/2 $619,916; 671 Rabbit Rd 3/2 $649K; 5100 Sea Bell Rd 4/2.5 $739K; 186 Southwinds Dr 2/2 $749K; 608 Boulder Dr 2/2.5 $869K; 1126 Harbour Ct 3/2 $1.495M; 518 N Yachtsman Dr 3/3 $1.495M; 2474 Wulfert Rd 3/3.5.5 $1.495M.

6 price changes: 174 Southwinds Dr 2/2 half-duplex now $659K, 545 Piedmont Rd 3/2 now $659K, 1772 Serenity Ln 3/2 now $670K, 1429 Jamaica Dr 3/3 now $724.9K, 1048 Fish Crow Rd 3/2 now $849K, 918 Lindgren Blvd 3/3.5 now $1.199M.

3 new sales: 1411 Sandpiper Cir 2/2 listed at $439K, 400 Rabbit Rd 4/3 listed at $785K, 2405 Blue Crab Ct 4/4.5 listed at $2.695M.

3 closed sales: 1333 Par View Dr 3/2 $825K, 615 Hideaway Ct 3/2.5 $1.16M, 584 Kinzie Island Ct 3/4 $1.6M.

LOTS

2 new listings: 1344 Eagle Run Dr $279K, 5687 Baltusrol Ct $325K.

4 price changes: 4566 Buck Key Rd now $179K, 5633 Baltusrol Ct now $359K, 5830 Sanibel-Captiva Rd now $385K, 1305 Seaspray Ln now $729K.

No new or closed sales.

Captiva

CONDOS

No new listings or price changes.

1 new sale: Tennis Villas #3238 2/2 listed at $435K.

1 closed sale: Bayside Villas #4206 1/2 $277.5K.

HOMES

No new listings.

2 price changes: 14980 Binder Dr 4/3 now $1,377,977; 14860 Mango Ct 5/4 now $2,343,967.

No new or closed sales.

LOTS

Nothing to report.

(This representation is based, in whole, or in part, on data supplied by the Sanibel & Captiva Islands Association of Realtors® or its Multiple Listing Service. Neither the association nor its MLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or its MLS may not reflect all real estate activity in the market. The information provided represents general real estate activity in the community and does not imply that SanibelSusan Realty Associates is participating or participated in these transactions.)

Here’s hoping the weather is wonderful wherever you are!

Happy Friday! Susan Andrews, aka SanibelSusan

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Almost Thanksgiving on Sanibel & Captiva


pilgrims-and-indiansSusan here, reporting the end of another busy week at SanibelSusan Realty Associates.

For those not in town, I would be remiss if I didn’t mention that this week has been the weather that makes most locals happy. Bright breezy days with temperatures down into the 60’s at night. The highs forecast for the next week range from low to high 70’s.

Picture perfect Thanksgiving weather for those lucky enough to be here for the holiday. Great weather for viewing property too, so we hope to have lots of real estate inquiries over the next week.

We had good showing action this week with some weekend and early week showings already scheduled for next week. It should be a busy one – holiday and all.

The activity posted in the Sanibel & Captiva Islands Multiple Listing Service since last Friday, follows a few news items.

Sanibel & Captiva Islands Association of Realtors®

Sanibel realtors logoYesterday morning was the local Association of Realtors® November Membership meeting.

At The Sanctuary – This week being a West-End Caravan, it was handy that the meeting was at the newly refurbished Clubhouse at The Sanctuary. Here are a few photos of the new décor. It is beautiful with a natural coastal modern casual vibe.

sanctuary-11-17-16-lobbysanctuary-11-17-16-living-rmsanctuary-11-17-16-club-fireplacesanctuary-11-17-16-club-dining

After the meeting, I got a private tour of the new 6000 sq. ft. fitness center by Club Manager Ken Kouril. This building is under construction, but is two months ahead of schedule. Now due to open in January. It will be a wonderful improvement for Sanctuary owners too. The facility which replaces a smaller building taken down some months ago, will house larger areas for exercise equipment, plus a huge yoga studio, special spa treatment rooms, and larger locker/baths/changing areas. The new pool outside is large – as big as the Rec Centers – and elevated with expansive deck area. Next to the tennis courts will be court(s) for the new popular sport – pickle ball.

News From City Hall – The speakers at the meeting were Sanibel City Manager Judith Zimomra; Sanibel Senior Planner Roy Gibson, and City Accounting Operations Manager Laura Zautcke.

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Sanibel City Manager – Judie began her comments with “Every town is unique. Everyone thinks theirs is. Sanibel really is.”

As partners in our industry, Judie further described how the City works to keep government lean and taxes low and how Council has focused on ways to systematically increase property values, by getting growth through reinvestment. Examples are renovations of commercial buildings like Bennett’s Fresh Roast which formerly was an old real estate office and Huxters Center which recently updated both inside and out through a new waiver system.

Sanibel Senior Planner – Roy’s power point further discussed planning and zoning initiatives for redevelopment of nonconforming island properties. The goal of the redevelopment vision statement is to provide equitable process for redeveloping non-conforming properties that existed at the time of incorporation to redevelop through a transparent process without expanding existing non-conformities. The redevelopment process steps include reviewing the existing Land Development Code regulations and amending them to enhance incentives and improve standards for redevelopment, including Build-back Regulations (non-conforming structures and non-conforming uses), Resort Housing District, and Commercial District standards.

Other recent amendments to Sanibel regulations related to redevelopment include pervious brick pavers (excluded from coverage calculations) and a revised definition of substantial improvement. Regarding pervious pavers for residential driveways, the pavers now are excluded from calculations of impermeable coverage. This exclusion applies only for conforming properties, and currently only applies to driveways for single-family and duplex properties.

Regarding substantial improvements – this is a big change. “Substantial improvement means any repair, reconstruction, rehabilitation, addition or other improvement, or combination or accumulation of any repair, reconstruction, rehabilitation, addition or other improvement of a structure in which the cost of the improvement equals or exceeds 50% of the market value of the structure at the time that an application is filed”. This 50% rule used to apply for five years, now it applies per project, so allows for more improvements in shorter timeframes.

Sanibel City Accounting Operations Manager – During Laura’s financial presentation, she described the changes in the City’s 2016/2017 budgets. Her pie chart on taxes paid by Sanibel citizens based on final rates adopted by taxing authorities in September showed the 2016 average residential taxable value to be $558,975 with an average tax bill of $8,641. Of that bill, 45.2% goes to Lee County schools, 26.2% goes to Lee County, 14.9% goes to the City of Sanibel, and 13.7% goes to independent districts (like the Sanibel Library District, Sanibel Fire & Rescue District, etc.)

She also proudly described how Sanibel’s operating millage rate steadily has gone down from 2.5 in 2007 to 1.9139 which was the rate in 2016 and will be again in 2017.

Essentially during the same time, 2006 to 2015, Citywide outstanding debt (governmental, sewer, & pension) has gone from $79,147,305 to $40,634,677.

Thanks to these speakers for keeping our Realtors® up-to-date on what is happening at City Hall. We appreciate these annual presentations and City cooperation with us and our members whether it be researching properties, their permit histories, improvement potential, or in educating us on ways to improve our services. We are very lucky to have them, their resources, and partnership.

1 in 4 Florida Owners With Mortgage is ‘Equity Rich’

Florida Realtors logoPosted on line yesterday at FloridaRealtors®:

“ATTOM Data Solutions’ Q3 2016 U.S. Home Equity and Underwater Report finds that 23.4% of U.S. homeowners with a mortgage are equity rich, meaning their loan-to-value ratio is 50% or lower. It’s a year-to-year increase of more than 2.6 million owners.

“In Florida, the ratio is similar, according to ATTOM, where 23.2% of owners with a mortgage are equity rich.

On the flipside, 16% of Florida owners with a mortgage are still “seriously underwater,” meaning they have a loan-to-value ratio of 125% or higher. Nationwide, the seriously underwater percentage is 10.8% – a year-to-year decrease of 854,000-plus homeowners.

“”Close to one in every five U.S. homeowners with a mortgage is now equity rich thanks to a combination of rising home prices and lengthening homeownership tenures,” says Daren Blomquist, senior vice president at ATTOM Data Solutions.

“”Median home prices increased on a year-over-year basis for the 18th consecutive quarter in Q3 2016, and homeowners who sold in the third quarter had owned their home an average of 7.94 years – a new high in our data and substantially higher than the average homeownership tenure of 4.26 years pre-recession,” says Blomquist. “As homeowners stay in their homes longer before moving up, they are amassing more home equity wealth.”

“A closer look by metro areas finds no Florida city in the top 10 on ATTOM’s list, however. Still, one city – Cape Coral-Fort Myers – was notable for being the only state city in the list of seven metro areas that saw the number of equity-rich homeowners increase by more than 10% as the area logged a 11.5% point increase.

However, one Florida metro area also made ATTOM’s list of seven cities where more than 20% of homeowners with a mortgage are still underwater: Lakeland-Winter Haven ranked at No. 7 with an even 20%.”

Upcoming Island Events

Nov 20 – Sunday – Sanibel Annual Thanksgiving Celebration beginning at 6:30 p.m. at BIG ARTS Schein Performance Hall.  Free non-denominational celebration of Thanksgiving. (SanibelSusan and fellow BIG ARTS chorus members will be singing, as will a new children’s chorus from The Sanibel School.)

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Nov 24 – Thanksgiving Day – Turkey Bowl from 9 to 11 a.m. – 2-hand touch football at Sanibel Community Park, open to all ages.

Nov 25 & 26 – Friday & Saturday after Thanksgiving – 25th Sanibel Masters Art Festival from 9 a.m. to 5 p.m. at Sanibel Community Part (across the street from SanibelSusan Realty). BIG ARTS Community Chorus is singing two holiday sets Saturday morning.

Sanibel & Captiva Islands Multiple Listing Service Activity November 11-18, 2016

Sanibel

CONDOS

6 new listings: Sanibel Arms #B1 1/1 $369K, Sundial West #G307 1/1 $424.9K, Sundial West #H209 1/1 $439K, Loggerhead Cay #434 2/2 $639K, Snug Harbor #312 3/2 $739K, High Tide #C101 2/2 $1.195M (our listing).

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High Tide #C101 is 2600 sq. ft. – the entire first floor, one up over covered parking & storage at ground level. Elevator opens to only this unit & the one above. Light & bright with windows all-’round. Never rented, this residential condo offers easy living in small 14-unit complex with beachside pool, plus tennis on West Gulf Drive. Gulf view too!

2 price changes: Tennisplace #C21 2/1.5 now $369,555; Sandy Bend #6 2/2 now $949K.

3 new sales: Kimball Lodge #263 1/1.5 listed at $415K, Mariner Pointe #622 2/2.5 listed at $639K, Kings Crown #315 2/2 listed at $899K.

1 closed sale: Sundial West #A208 2/2 $790K.

HOMES

12 new listings: 2030 Sunrise Cir 3/3 $699K; 525 N Yachtsman Dr 3/2 $749K; 1559 Sand Castle Rd 3/2 $799K; 1683 Bunting Ln 3/3 $799,555; 8991 Mockingbird Dr 3/2 $829K; 1232 Par View Dr 3/2.5 $929K; 5838 Pine Tree Dr 3/3 $1.295M; 2474 Wulfert Rd 3/3/2 $1.495M, 3790 West Gulf Dr 3/2.5 $1.6M; 1717 Jewel Box Dr 3/3.5 $2.1M; 267 Ferry Landing Dr 3/2 $2.195M, 2405 Blue Crab Ct 4/4.5 $2.695M.

9 price changes: 4619 Brainard Bayou Rd 3/2 now $549.9K; 752/754 Cardium St 4/2 duplex now $639.9K, 3152 Twin Lakes Ln 3/3 now $789K; 3354 Barra Cir 3/2 now $899K; 1270 Bay Dr 3/2 now $1.299M; 2479 Blind Pass Ct 3/2 now $1.3M; 513 Lighthouse Way 3/3 now $1.795M; 2451 Blind Pass Ct 4/4.5 now $1,999,999; 4190 Dingman Dr 4/3.5 now $2.299M.

2 new sales: 5279 Umbrella Pool Rd 3/2 listed at $648K, 677 Durion Ct 3/2 listed at $728K.

2 closed sales: 1333 Par View Dr 3/2 $825K, 4014 West Gulf Dr 3/2/2 $1.35M.

LOTS

No new listings.

1 price change: 6419+6428 Pine Ave now $1.499M.

No new sales.

2 closed sales: 2153 Periwinkle Way $265K, 3965 Coquina Dr $350K.

Captiva

CONDOS

1 new listing: Bayside Villas #5320 3/3 $650K.

No price changes, new sales, or closed sales.

HOMES & LOTS

Nothing to report.

(This representation is based, in whole, or in part, on data supplied by the Sanibel & Captiva Islands Association of Realtors® or its Multiple Listing Service. Neither the association nor its MLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or its MLS may not reflect all real estate activity in the market. The information provided represents general real estate activity in the community and does not imply that SanibelSusan Realty Associates is participating or participated in these transactions.)

pilgrims-and-indians_whimsyclipsThanksgiving good wishes to all,

Susan Andrews aka SanibelSusan

More Real Estate Action This Week at SanibelSusan Realty!


Sanibelsusan LogoWoohoo…it has been another good week at SanibelSusan Realty Associates. The fall island weather is delightful. Snowbird flocks are increasing which has added a few minutes to our travel times, but since that goes hand in hand with more business, we see it as a plus. Holiday decorations are going up in so many places that we know it will be 2017 before we know it. We wait all year for the busy “season” to begin. It has!

Sanibel & Captiva Islands Association of Realtors®

Sanibel realtors logoYesterday morning the Association of Realtors® East-End Caravan Meeting was well attended. SanibelSusan was pleased to report two new listings, a price reduction, and a sale during the announcement segment. Then from 9 a.m. until shortly after noon, teammates Elise and David both had good turn-outs and excellent feedback at Open Houses at our new listings at Pointe Santo and Gulf Beach.

The activity posted since last Friday in the Sanibel & Captiva Multiple Listing Service follows a couple of news items below.

Upcoming Island Events

Nov 12 – Tomorrow – Trash & Treasures Sale – 8 a.m. to 2 p.m. at Center 4 Life, 2401 Library Way.

Nov 12 – Tomorrow – Arts on the Veranda – 10 a.m. to 3 p.m. at Bailey’s Center – First show of the season, with art by SanCap Art League.

TASTEoftheISLAND-4c-BNov 13 – Sunday –  CROW’s 35th “Taste of the Islands” 12 to 5 p.m. at Sanibel Community Park (across the street from SanibelSusan Realty). SanibelSusan will be in the office with the front door open (to hear the music and hopefully snag a few prospective buyers).

give-thanksNov 20 – Sunday – Sanibel Annual Thanksgiving Celebration beginning at 6:30 p.m. at BIG ARTS Schein Performance Hall.  Free non-denominational celebration of Thanksgiving. (SanibelSusan and fellow BIG ARTS chorus members will be singing, as will a new children’s chorus from The Sanibel School.)

Nov 24 – Thanksgiving Day – Turkey Bowl from 9 to 11 a.m. – 2-hand touch football at Sanibel Community Park, open to all ages.

Ways To Take Title of Florida Real Estate

contract-clip-artThis week, the Buyers of a listing that is under contract prepared a Contract Addendum to change the name of the Buyer. That happens sometimes after an offer is negotiated and agreed, when the Buyers get back home and discuss their purchase with their financial advisor or attorney.

Most Realtors working with Buyers check the block on the sales contract under Assignability that says: “Buyer may assign but not be released from liability under this Contract.” This allows the purchasers to change the Buyer name, but does not diminish their requirement to proceed with the contract terms.

Sometimes, it is not until after a closing, that new owners want to change how they took title to a property, perhaps by adding a family member or spouse, or by transferring the property to a corporation or trust.

Buyer should beware that transfers after-the-fact likely would create unintended tax liabilities, not to mention a 2nd set of closing costs. The best time to consider how to take title to property is before entering into the sales contract, and if not then, definitely before the closing so that there is enough time for the title company to prepare and process closing documents.

Below is an article that was posted this week on Florida Realtors® on-line (November 7, 2016). It discusses the various ways to take title here:

“There are a number of ways to take title to Florida real estate, and each has potential advantages and limitations. Here are common options:

  • Sole Ownership. Unmarried people, those who are legally divorced and married people who wish to hold the property in their own names may use this form of ownership. However, if a married person takes title in his or her own name and the property benefits from a homestead exemption, Florida homestead laws require the other spouse to sign the deed for the transfer or otherwise formally relinquish rights to the property.
  • Joint ownership as Tenants in Common. Any number of individuals can hold title under Joint ownership as Tenants in Common with the share of the property, depending on the person’s contributions. Also, in this form of ownership, each owner has the right to sell, lease or bequeath (give away at death) interest in the property to his or her legal heirs.
  • Joint Tenancy with Right of Survivorship. Under this type of ownership, all joint tenants have equal rights to their share in the property. In addition, due to the right of survivorship, which is not present for Tenants in Common, when a joint tenant dies, his or her share is automatically distributed among the remaining joint tenants. There are no restrictions on the number of persons that can be joint tenants under a Joint Tenancy with Right of Survivorship.
  • Tenancy by the Entirety. This option is available only to married couples and allows the couple to hold title in the name of both spouses. Both the husband and wife have equal possession rights to the property. When one spouse dies, his or her share is automatically distributed to the surviving spouse. There are several advantages to Tenancy by the Entirety. First, it protects the asset if, for example, a creditor is pursuing a judgment against one spouse. Second, it offers control over how the property is disposed of. Unlike Joint Tenancy with Right of Survivorship, Tenancy by the Entirety requires both parties to sign a deed transferring any interest in the property. One spouse cannot sell, dispose of or mortgage the other’s one-half interest without consent/signature. Third, one spouse cannot gift his or her interest in the real estate without the consent/signature of the other spouse. This protects the other spouse from unknowingly losing an interest in the property.
  • Ownership through an entity. Rather than own a property as people, owners may choose to acquire it through a separate legal entity, such as a corporation or a limited liability company. Corporations and limited liability companies can have any number of shareholders or members, but rights to the property of individual shareholders or members will be limited to the face value of the shares or membership interests each person holds. Title to Florida property also may be held in the name of a partnership of two or more persons. Partners would have equal right to possession of their respective share in the property.
  • Ownership through land trust. Finally, title may be held in the name of a Florida Land Trust, in which the legal title of the property is transferred to a trustee for the benefit of the named beneficiaries. This form of title offers privacy because the deed does not state who the owner is or the amount of the purchase price.”

12 Real Estate Trends

Florida Realtors logoA good article in FloridaRealtor® Nov/Dec 2016 magazine offered the following info, I have extracted the segments most pertaining to our market.

“Next year should be filled with promise for Florida Realtors®, though there are a few warning signs as well, say state and national economists and analysts.

“Barring unexpected postelection federal policy changes, the state’s residential and commercial markets should remain steady in 2017, thanks to the continued inflow of job seekers and retirees.

“”Florida is also a top state for job creation, with a favorable tax climate,” says Dr. Brad O’Connor, chief economist for Florida Realtors. “Tourism has increased, and the retail, healthcare and construction sectors of our economy remain strong.”

“Still, the rapid increase in home prices continues to hamper millennials who may want to transition from renting. And the strong U.S. dollar may result in low demand from international investors and second-home buyers.

“Here are the experts’ thoughts on 12 trends that will drive our real estate market in the coming year.

  • Rising Home Prices & Affordability – The U.S. homeownership rate fell to 62.9% in mid-2016, the lowest since 1965, according to a recent Census Bureau report. Tight credit, a shift toward renting and a limited supply of listings were among the reasons….
  • Florida’s Population Growth – In 2017, Florida should add 200,000 to 300,000 residents, including a strong inflow of retirees, says O’Connor…IMPACT: More people equal more homeowners.
  • Self-Storage May Be The Hidden Gem
  • Brexit – While Great Britain’s vote to exit the European Union could hurt all categories of real estate in the United Kingdom, “Surprisingly anticipated effects on the United States and world economics after the dust settles are minimal or nil,” says Ed Miller, managing director, principal with Colliers International in Tampa. IMPACT:…”Many investors who have been waiting to buy commercial property assets may look to Florida as a safe and stable market. We might expect some acquisitions and dispositions over the next few years, thanks to the Brexit shakeup.”
  • Retirees Still Coming – Florida remains a leading state for Boomer retirees. In fact, Orlando Tampa, and Miami ranked No. 1, No. 2, and No.4 respectively, in a recent poll for best cities to retire to, nationwide, according to the personal financial website WalletHub…..
  • Canadian Buyers Returning – While Canada traditionally has been Florida’s largest cross-border market, the strong dollar has caused some buyers to delay their vacation home purchases. But that could change in 2017, says Alain Forget, VP, head of sales and business development for RBC Bank, Miami/Fort Lauderdale area. “As the Canadian dollar stabilizes around 80 cents to the dollar, the historical average, more of the 11 million boomers in Canada will realize it’s time to buy,” he predicts….
  • South American and European Buyers May Pause – To the south, Brazil and Venezuela are having serious economic problems…That weakness has a significant impact on the Florida housing market, reducing foreign demand….”The strong dollar also affects demand from Europe.”
  • Land Cost Limits New Construction – Single-family and multifamily construction are rising, but the level will be well below the boom years of a decade ago. In Florida, a tight land supply greatly limits new-home development in desirable Southern, Central, and West Coast markets….
  • High Demand for Distribution Space….
  • Growth in The Condo Market – Demand for moderately priced condominiums is much stronger than current sales indicate…There is substantial pent-up demand, which has been curtailed by the unwillingness of many lenders to re-enter this market…Buyers are also keenly interested in townhomes as a lower-maintenance alternative to single-family detached homes. However, luxury condominium sales may slow in 2017, particularly with project that target international buyers, “The softest markets could be Miami, which has such a large exposure to Latin American buyers, and Naples, which is seeing a little softness in sales to high-end retirees….
  • Decline in Investors – The state’s backlog of foreclosures and short sale properties has dropped dramatically, thanks largely to individual and institutional investors…distressed property sales now constitute only about 10% of the market, and continue to fall…
  • Rail Investments – …While new development along rail lines will increase, it may not be the boom once predicted by experts…”

Sanibel & Captiva Islands Multiple Listing Service Activity November 4-11, 2016

Sanibel

CONDOS

2 new listings: Sanibel Surfside #223 2/2 $799K, Sundial East #P401 2/2 $899K (our listing, photos below,  professional photos being filmed 11/16).

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1 price change: Sand Pointe #122 2/2 now $724K (our listing).

3 new sale: with contingencies: Loggerhead Cay #452 2/2 listed at $549K, Sunset South #15B 2/2 listed at $999K. Without contingencies: Loggerhead Cay #574 2/2 listed at $569K.

1 closed sale: Sanibel Surfside #123 2/2 $825K (our listing).

HOMES

13 new listings: 2134 Egret Cir 3/2 half-duplex $579K, 400 Rabbit Rd 4/3 $785K, 225 Daniel Dr 3/2 $849K, 660 Durion Ct 3/2 $910K, 698 Spartina Ct 3/2 $924.9K, 1314 Par View Dr 4/3 $929K, 1146 Buttonwood Ln 3/3 $975K, 1170 Buttonwood Ln $999K, 485 Lake Murex Cir 3/2 $1.069M, 800 Sand Dollar Dr 3/3.5 $1.695M, 1475 Angel Dr 3/4.5 $1.749M, 514 Kinzie Island Ct 3/4 $2.35M, 615 Lighthouse Way 3/3.5 $2.495M.

11 price changes: 810 Elinor Way 3/2 now $599K, 1426 Sand Castle Rd 3/2 now $649.9K, 1772 Serenity Ln 3/2 now $675K, 2549 Harbour Ln 3/2 $749.5K, 1295 Par View Dr 3/2 now $799K, 243 Southwinds Dr 4/2.5 now $979K, 1501 Sand Castle Rd 5/3.5 now $999K, 4428 Waters Edge Ln 3/2.5 now $1.249M, 598 Kinzie Island Ct 3/3.5 now $1.649M, 3402 West Gulf Dr 3/2 now $1.65M, 1842 Woodring Rd 3/3.5 now $2.195M.

8 new sales: with contingencies: 1722 Serenity Ln 3/3 listed at $525K, 533 Rabbit Rd 3/2 listed at $548K (our listing), 1076 Sand Castle Rd 2/2 listed at $589K, 3118 Twin Lakes Ln 3/2 listed at $599.9K, 1245 Anhinga Ln 3/2 listed at $649K, 3941 Coquina Dr 3/2 listed at $699K. Without contingencies: 743 Elinor Way 3/2 listed at $695K, 626 Kinzie Island Ct 3/2.5 listed at $1.799M.

4 closed sales: 1364 Jamaica Dr 2/2 $605K, 1133 Sand Castle Rd 3/2 $617.5K, 1121 Sabal St 3/2.5 $650K, 3850 Coquina Dr 3/3 $825K.

LOTS

1 new listing: 9211 Dimmick Dr $149.9K (our listing).

No price changes.

2 new sales: with contingencies: 9426 Sage Ct listed at $269K, 690 Birdie View Pt listed at $389K.

No closed sales.

Captiva

CONDOS

2 new listings: Tennis Villas #3125 1/1.5 $254K, Bayside Villas #5228 1/2 $335K.

No price changes.

1 new sale: with contingencies: Bayside Villas #4214 1/2 listed at $317.5K.

No closed sales.

HOMES

2 new listings: 43 Oster Ct 2/2.5 $929K, 17041 Captiva Dr 2/3 $1.685M.

2 price changes: 14980 Binder Dr 4/3 now $1,377,984; 14860 Mango Ct 5/4 now $2,343,974.

No new sales.

1 closed sale: 16897 Captiva Dr 5/5.5 $2.94M.

LOTS

Nothing to report.

(This representation is based, in whole, or in part, on data supplied by the Sanibel & Captiva Islands Association of Realtors® or its Multiple Listing Service. Neither the association nor its MLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or its MLS may not reflect all real estate activity in the market. The information provided represents general real estate activity in the community and does not imply that SanibelSusan Realty Associates is participating or participated in these transactions.)

veterans-dayHappy Friday to all…& a big thank you to veterans!

Susan Andrews, aka Sanibel Susan

Woohoo…Sanibel/Captiva Island Real Estate Activity Has Picked Up!


dolphins-with-baby

It has been another busy real estate week on Sanibel and Captiva Islands. Several SanibelSusan Realty listings had excellent showings and we also had several good meetings with owners considering selling. One new listing is effective this week and another will be posted in a few days, and another a few days after that. I was out showing to several parties, several times, while Teammates David and Lisa also were showing yesterday. It’s great to see almost as much action as the November dolphins jumping in the above photo. (Note the Mama with baby on the right.)

Sanibel & Captiva Islands Association of Realtors®

Sanibel realtors logoYesterday’s Realtor® Caravan Meeting was not as well attended as last week, but the National Association of Realtors annual convention, being held in Orlando this year, may have something to do with that.

This wek the Sanibel/Captiva Caravan of new listings was for West End properties. Next week, when it rotates to East End, we will have two new listings open (from 9 a.m. until noon).

The activity posted since last Friday in the Sanibel & Captiva Multiple Listing Service follows a couple of news items below.

Interest Rates Stay Put, But Door Open For December Hike

Florida Realtors logoYesterday, FloridaRealtors® on-line posted the following:

“The Federal Reserve held its key interest rate steady Wednesday and left the door open to a December rate hike amid an improving economy. In a statement after a two-day meeting, the Fed said it decided to keep its federal funds rate at a historically low 0.4%.

2000px-US-FederalReserveBoard-Seal.svg“The Fed said “the case for a rate increase strengthened,” but policymakers decided, “for the time being, to wait for some further evidence of continued progress toward its objectives.” That largely mirrored the September statement, except the Fed added that only “some” advances are needed, suggesting a rate hike may be at hand. The statement added that “inflation has increased somewhat since earlier this year” and removed its previous assertion that “inflation is expected to remain low in the near term.”

“The Fed’s preferred measure of annual inflation, which excludes volatile food and energy costs, is still below its 2% annual target, but it has edged up steadily this year, reaching 1.7% recently. That could pave the way for a rate hike as soon as December.

“Stocks, already on pace for a seventh day of losses, fell further after the statement but shortly began staging a recovery. Some economists said the Fed was unlikely to send an explicit signal of a December rate increase similar to a reference in October 2015 to a possible hike at the “next meeting.”

With markets already pricing in an increase anyway, Fed officials would prefer not to close off their options, economists said. “Absent substantial shocks, they’re set on December,” says UBS economist Drew Matus.

“Among potential shocks are a contested presidential election next week or a victory by Republican Donald Trump that roils markets, economist Paul Ashworth of Capital Economics says.

“After Wednesday’s statement was released, fed fund futures reckoned there was a 72% chance the Fed will lift its benchmark rate at a Dec. 13-14 meeting, up from 68% a day earlier.

“It was unlikely the Fed would act just days before the election, potentially disrupting markets and coloring perceptions of the economy and presidential candidates Trump and Hillary Clinton.

USATodayLOGO“The Fed has stood pat since raising its federal funds rate in December for the first time in nine years, citing factors such as China’s economic slowdown, the United Kingdom’s Brexit vote, volatile markets and a spring slump in U.S. job growth.” Copyright © 2016, USATODAY.com, USA TODAY, Paul Davidson

Upcoming Island Events

bait_box_new_logoTomorrow – Saturday – Esperanza Woodring Memorial Cast Net Rodeo – beginning at 8:30 a.m. at The Bait Box, 1041 Periwinkle Way.

Nov 6 – Sunday – Sanibel Blues & Jazz Festival – 1 to 7 p.m. at Bailey’s Center.veterans-day

Nov 11 – Friday – Veterans Day Ceremony – beginning at 11:45 on the grounds of Sanibel City Hall.

Nov 13 – Sunday –  CROW’s 35th “Taste of the Islands” 12 to 5 p.m. at Sanibel Community Park (across the street from SanibelSusan Realty). SanibelSusan will be working with the front door open (to attract some business & hear the music).

TASTEoftheISLAND-4c-B

Sanibel & Captiva Islands Multiple Listing Service Activity October 28-November 4, 2016

sancap GO MLS logoSanibel

CONDOS

7 new listings: Blind Pass #A205 2/2 $449K, Sundial East #P201 2/2 $789K, Sandpiper Beach #504 2/2 $789K, Gulf Beach #102 2/2 $799K, (our listing, photos below), Surfside 12 #A4 3/2 $869K, Nutmeg Village #100 2/2 $1.195M, Compass Point #192 2/2 $1.295M.

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1 price change: Sundial West #F103 2/2 now $459.5K.

2 new sales: Sanibel Arms West #B8 2/2 listed at $529.9K, Villa Sanibel #2G 2/2 listed at $589K.

4 closed sales: Tennisplace #D21 1/1 $212.85K, Casa Blanca #8 1/1 $255K, Sundial West #F105 1/1 $385K, Mariner Pointe #813 2/2 $437K.

HOMES

6 new listings: 1411 Sandpiper Cir 2/2 half-duplex $439K, 743 Elinor Way 3/2 $695K, 998 Fish Crow Rd 3/2 $725K, 5306 Umbrella Pool Rd 4/4 $895K, 941 Pecten Ct 3/2 $975K, 6494 Sanibel-Captiva Rd 3/2 $2.495M.

7 price changes: 1585 Serenity Ln 3/3 now $574.9K, 4215 Old Banyan Way 3/3 now $699K, 1809 Bowmans Beach Rd 3/2 now $799.9K, 5757 Pine Tree Dr 3/2.5 now $850K, 660 Oliva St 3/3 now $899K, 1724 Bunting Ln 3/4 now $995K, 6129 Starling Way 3/2.5 now $1.39M.

1 new sale: 1150 Schooner Pl 2/2 listed at $599K.

2 closed listings: 9292 Belding Dr 3/2.5 $399K, 988 Beach Rd 3/3 $850K.

LOTS

1 new listing: 602 Boulder Dr $459K.

1 price change: 9426 Sage Ct now $269K.

No new sales.

1 closed sale: 1242 Anhinga Ln $495K.

Captiva

CONDOS

2 new listings: Bayside Villas #5136 1/2 $315K, Beach Homes #18 4/3 $3.495M.

No price changes or new sales.

2 closed sales: Bayside Villas #4102 1/2 $277.5K, Bayside Villas #5240 1/2 $320K.

HOMES

1 new listing: 11523 Andy Rosse Ln 5/5/5 $2.599M.

2 price changes: 14980 Binder Dr 4/3 now $1,377,991; 14860 Mango Ct 5/4 now $2,343,981.

1 new sale: 11537 Laika Ln 4/3 listed at $1.575M.

No closed sales.

LOTS

Nothing to report.

(This representation is based, in whole, or in part, on data supplied by the Sanibel & Captiva Islands Association of Realtors® or its Multiple Listing Service. Neither the association nor its MLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or its MLS may not reflect all real estate activity in the market. The information provided represents general real estate activity in the community and does not imply that SanibelSusan Realty Associates is participating or participated in these transactions.)

Until next Friday, when hopefully we have more real estate action to report, here are a few more dolphins showing off!

Happy weekend! Susan Andrews, aka SanibelSusan

more-dolphins

Wrapping Up October Real Estate on Sanibel & Captiva Islands


sunset from master

It’s Susan with The SanibelSusan Team’s weekly update on island real estate activity. Things on Sanibel & Captiva Islands definitely are picking up.

We were especially reminded of that last Friday afternoon when 3 p.m. rolled around and traffic backed-up in front of the office heading east on Periwinkle. First time, we recall that happening in October, but it’s in line with the many visitors who come this month every year and saying that this year the island is busier than they remember it.

Of course, we hope plenty of these visitors are looking to buy real estate. Over the last seven days, there were three condo sales and a home sale on Sanibel, and one condo sale on Captiva. Those numbers need to pick up considerably for us to really say that “season” is in full swing. The activity posted since last Friday in the Sanibel & Captiva Multiple Listing Service follows a couple of news items below.

Sanibel & Captiva Islands Association of Realtors®

Sanibel realtors logoYesterday’s Realtor® Caravan Meeting was well attended, with many dressed in costume adding some levity to our usually serious announcements.

Twelve new listings were on the following caravan tour including ours at 537 Lake Murex Circle. These meetings have now reverted to the “every Thursday” morning schedule, with up to 20 properties allowed each week, so if you are on the islands on Thursday mornings watch for the open house signs, if you like to preview new listings too.

Mortgage Rates Surge to 4-Month High

FreddieMacLogo_3According to “Daily Real Estate News” on line, last week, “for the second week, mortgage rates moved higher. This time, the 30-year fixed-rate mortgage inched above 3.5% for the first time since June.

““This month, mortgage rates seem to be catching up to Treasury yields and returning to pre-Brexit levels,” says Sean Becketti, Freddie Mac’s chief economist.

“Freddie Mac reports the following national averages with mortgage rates for the week ending Oct. 20:

  • 30-year fixed-rate mortgages: averaged 3.52%, with an average 0.5 point, rising from last week’s 3.47% average. Last year at this time, 30-year rates averaged 3.79%.
  • 15-year fixed-rate mortgages: averaged 2.79%, with an average 0.5 point, also rising from last week’s 2.76% average. A year ago, 15-year rates averaged 2.98%.
  • 5-year hybrid adjustable-rate mortgages: averaged 2.85%, with an average 0.4 point, increasing from last week’s 2.82% average. Last year at this time, 5-year ARMs averaged 2.89%.”

These rates still are near historic lows, but if you are thinking of taking advantage of them, you may want to lock in soon as increases may continue.

Sanibel Community House Update

Community Ctr renovationConstruction is moving along at the Sanibel Community House, but in their update this week, they mentioned that a delay is definite and that the annual mini-golf usually held between Christmas and New Years has been postponed. The annual island Thanksgiving Celebration held the Sunday before the holiday, this year will be at Schein Performance Hall at BIG ARTS, rather than the Community House. Appears that the new Community House will be ready in early January.

New Closing Rules Remain a Challenge

It has been a little more than a year since new federal closing rules took effect. Under the rules, the HUD-1 Settlement Form was replaced with a new Closing Disclosure, the Good Faith Estimate was replaced with a new Loan Estimate, and some new timing requirements were imposed.

realtor logoReal estate professionals continue to have concerns with the changes and were among the many people and organizations that submitted almost 1,600 comments to the Consumer Financial Protection Bureau as it works to finalize a rule that would try to improve the process. The National Association of Realtors® (NAR) also submitted comments. Among other points, NAR says it remains too difficult for real estate professionals to get a copy of the closing disclosure so they can help their clients.

For many years on the islands, most sales have been cash. However, the low interest rates this year have brought an increased number of sales with bank financing. That probably will continue into “season”. Those sales with loans are the ones affected by the new federal forms, disclosures, and additional time requirements.

Most local Realtors® – us included – encourage buyers to do their financing here, not only are local lenders more attuned to what is needed for a loan on a barrier island, but their rates are competitive – and often better than a distant hometown bank. Also, it is much easier for us and local title companies to keep tabs on loan processing and ensure that timetables are met, when the lender is local.

Sanibel & Captiva Islands Multiple Listing Service Activity October 21-28, 2016sancap GO MLS logo

Sanibel

CONDOS

5 new listings: Donax Village 33 2/2 $499K, Villa Sanibel #2G 2/2 $589K, Sanibel Surfside #127 2/2 $1.15M, Signal Inn #19 3/2 $1.195M, Golden Beach #2 3/2.5 $1.499M.

2 price changes: Lake Palms #8 2/2.5 now $345.5K, Tigua Cay #487 3/3.5 now $1.849M.

4 new sales: Blind Pass #B203 3/2 listed at $575K, Loggerhead Cay #211 2/2 listed at $599K, Sunset South #15B 2/2 listed at $999K, Surfside 12 #B3 3/2 listed at $1.124M.

3 closed sales: Sundial West #B108 1/1 $340K, Sandpebble #2B 2/2 $390K (our listing & sale), Sanibel Surfside #117 2/2 $935K.

HOMES

9 new listings: 1851 Farm Trail 3/2 $529K, 1150 Schooner Pl 2/2 $599K, 1245 Anhinga Ln 3/2 $649K, 958 Sand Castle Rd 3/2 $679K, 1809 Bowmans Beach Rd 3/2 $799K, 537 Lake Murex Cir 3/3 $949K (our listing, shown below), 3019 Poinciana Cir 5/3.5 $950K, 2479 Blind Pass Ct 3/2 $1.1M, 407 Bella Vista Way 4/4 $3.199M.

5 price changes: 5105 SanibelCaptiva Rd 4/3 now $677.7K, 5751 Baltusrol Ct  3/4 now $1.05M, 900 Almas Ct 3/3.5 now $1.289M, 1326 Seaspray Ln 4/4.5 now $2.145M, 5075 Joewood Dr 4/4.6 now $3.59M.

1 new sale: 1333 Par View Dr 3/2 listed at $879K.

1 closed listing: 3792 Coquina Dr 3/3 $987.5K.

LOTS

No new listings.

1 price change: 690 Birdie View Pt now $389K.

No new or closed sales.

Captiva

CONDOS

No new listings or price changes.

1 new sale: Seabreeze #1253 3/3 listed at $1.569M.

1 closed sale: Marina Villas #807 2/2 $645K.

HOMES

No new listings.

3 price changes: 14980 Binder Dr 4/3 now $1,377,998; 11537 Laika Ln 4/3 now $1.575M; 14860 Mango Ct  5/4 now $2,343,999.

No new or closed sales.

LOTS

Nothing to report.

(This representation is based, in whole, or in part, on data supplied by the Sanibel & Captiva Islands Association of Realtors® or its Multiple Listing Service. Neither the association nor its MLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or its MLS may not reflect all real estate activity in the market. The information provided represents general real estate activity in the community and does not imply that SanibelSusan Realty Associates is participating or participated in these transactions.)

Hard to believe that next Friday is November. Until then,

Susan Andrews, aka SanibelSusan

c

Photo by Jim Anderson, JMA Photography

Fall Sanibel/Captiva Real Estate Market Update


 

Beach Path.jpgIt’s SanibelSusan, again reporting another week of wonderful fall island weather – sunny days with temperatures mostly in the 80’s. A cool front arriving tonight is expected to bring our first day – in a long time – of temps under 80 with more perfect weather expected right through the weekend and into next week.

Beach.jpg

Sanibel & Captiva Islands Association of Realtors®

sancaprealtors-10-20-16

Sanibel & Captiva Islands Association of Realtors President-Elect Joel Goodman & President Lori Pierot with SCCF’s Natural Resource Policy Director Rae Ann Wessel & Executive Director Erick Lindblad.

There was no local Realtor Caravan® Meeting this week, but the Sanibel & Captiva Islands Association of Realtors® yesterday announced presentation of a $4,500 check to the Sanibel-Captiva Conservation Foundation to help their efforts in providing guided tours of the Caloosahatchee and estuary to provide members of the public the opportunity to gain a personal experience and perspective on the river and the Everglades – its history, folklore, issues, and solutions. These are local RPAC (Realtor Political Action Committee) funds put to good use educating our community on the importance of a healthy ecosystem.

SanibelSusan Realty Associates

Sanibelsusan LogoWith the island picking up, I was out showing homes both Monday and again this morning, while teammate Dave held a condo open house on Wednesday. Several of our listings had showings this week too, with the activity posted in the Sanibel & Captiva Islands Multiple Listing Service below, after a couple of news items.

Market Update After 3rd Quarter 2016

statisticsNow that three-quarters of 2016 are over, it appears that Southwest Florida real estate sales this year will fall short of 2015. A recent article posted by an off-island “News-Press” Market Watch expert said:

  1. “Median home prices in Lee County are flat, down slightly in Collier County.
  2. The number of home sales in Lee County is down 17%,18% in Collier.
  3. Condo sales are down over 20%.
  4. $1 million+ market is down 13%.”

He also said “This is not a “lack of inventory” situation, as most non-sweet-spot segments are down or flat, except the $500-$1M range in Collier. That segment is up 9%. These numbers aren’t negative, they just “are”. SWFL is still the place to live, work or play.”

So how do Sanibel and Captiva sales compare in a similar analysis? The below statistics illustrate that though the islands officially are part of Lee County, in many ways, it is a totally different world here where there is less inventory and prices vary hugely. Compared to the same period last year (January 1 to October 20), this year:

  1. Median home prices on Sanibel are up 65%, up 84% on Captiva.
  2. The number of home sales on Sanibel is down 27%, but up 15% on Captiva.
  3. Condo sales are down over 15% on Sanibel, 50% on Captiva.
  4. $1 million+ market is down 10% on Sanibel, 28% on Captiva.

Going into season, there still are fewer condos and homes for sale on Sanibel than already have sold this year. The reverse is true on Captiva, where inventory is low, yet exceeds this year’s demand.

Upcoming Island Events

baileyfest 2012.jpg

Here’s an oldie from Bailey Fest 2012.

31st Annual Bailey Fest – is Sunday, 10/23 from noon until 4 p.m. Free & open to the public. If you are there for the opening event act, you will hear the BIG ARTS Community Chorus with yours truly in the alto section.

 

tween-waters-2016Hallo’Tween 2016 – is Saturday, 10/29 from 8 p.m. to 2 a.m., adult Halloween costume party at ‘Tween Waters with prizes awarded at midnight.halloween-kids

 

 

 

Trick or Treat Monday – 10/31 from 4 to 6 p.m. from vehicle trunks in the parking lot at Sanibel Community Church. Safe family fun with bounce houses and games, plus treats.

Cast Net Rodeo MCC-1-Esperanza_Woodring_-_Painted_Pants.jpg23rd Annual Esperanza Woodring Memorial Cast Net Rodeo – Saturday 11/5 with lessons at 8:30 a.m. & competition beginning at 9:30 a.m. www.baitboxsanibel.comSCCF logo

 

 

2016 Wines in the Wild – Saturday 11/5, SCCF fundraiser, held for the first time at SCCF’s Bailey Homestead Preserve from 5 to 7 p.m.

Inaugural Sanibel Blues & Jazz Festival sponsored by the Sanibel-Captiva Optimist Club– is Sunday, 11/6 at Bailey’s Center from 1 to 7 p.m. Limited tickets, but some still available. http://www.sanibelbluesandjazzfest.org

Local Politics

Ding Darling Society logoFor Florida registered voters, the J.N. “Ding” Darling Wildlife Society and SanibelSusan ask that you vote to help conservation:

Vote “Yes” on Conservation 20/20 which is an opportunity to help safeguard Lee County’s long-term economic and environmental sustainability and quality of life by continuing to protect the county’s exceptional natural resources, yet without increasing taxes.

Vote “No” on Amendment 1 which is a deceptively-worded amendment that creates barriers for future solar power competition and slows solar use for the future. Help keep solar rights in your own hands, not in those of the utility companies.

Sanibel & Captiva Islands Multiple Listing Service Activity October 14-21, 2016sancap GO MLS logo

Sanibel

CONDOS

7 new listings: Sundial West #C310 1/1 $439K; Blind Pass #F106 2/2 $459,999; Coquina Beach #3C 2/2 $479K; Sundial West #D304 1/1 $549K; Seawind #A103 2/2.5 $564K; Kings Crown #211 3/2 $899K; Golden Beach #2 3/2.5 $1.499M.

1 price change: Coquina Beach #4C 2/2 now $449.9K.

3 new sales: Casa Blanca #8 1/1 listed at $259,989; Mariner Pointe #943 2/2.5 listed at $595K; Sundial #P205 2/2 listed at $780K.

No closed sales.

HOMES

6 new listings: 2074 Wild Lime Dr 3/2 $579K, 3918 Coquina Dr 3/2.5 $939K, 1747 Jewel Box Dr 3/2 $1.175M, 6101 Starling Way 3/4 $1.295M, 2302 Wulfert Rd 4/5 $1.595M, 1743 Venus Dr 4/3.5 $1.799M.

1 price change: 4449 Waters Edge Ln 3/3 now $4.495M.

2 new sales: 615 Hideaway Ct 3/2.5 listed at $1.195M, 3675 West Gulf Dr 3/2 listed at $3.3M.

5 closed sales: 956 Dixie Beach Blvd 2/1 $305K, 5749 Pine Tree Dr 3/3 $610K, 9468 Peaceful Dr 3/2 $739K, 1112 Olga Ave 6/2.5 duplex $849.5K, 3792 Coquina Dr 3/3 $987.5K.

LOTS

3 new listings: Island Inn Rd $189,555; 4954 Joewood Dr $499K, 6053 Sanibel-Captiva Rd $1.395M.

1 price change: 976 Whelk Dr now $719K.

No new sales.

2 closed sales: Sabal Sands Rd $250K, 5290 Punta Caloosa Ct $265K.

Captiva

CONDOS

No new listings or price changes.

1 new sale: Bayside Villas #4102 1/2 listed at $305K.

No closed sales.

HOMES

2 new listings: 15161 Captiva Dr 4/3.5 $2.295M, 16181 Captiva Dr 5/5 $2.95M.

2 price changes: 16167 Captiva Dr 4/3 now $1.735M, 16177 Captiva Dr 2/2 now $3.45M.

No new or closed sales.

LOTS

Nothing to report.

(This representation is based, in whole, or in part, on data supplied by the Sanibel & Captiva Islands Association of Realtors® or its Multiple Listing Service. Neither the association nor its MLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or its MLS may not reflect all real estate activity in the market. The information provided represents general real estate activity in the community and does not imply that SanibelSusan Realty Associates is participating or participated in these transactions.)

enjoy-weekendUntil next Friday, enjoy your fall weather & remember to call The SanibelSusan Team if we may help you with island real estate!

Susan Andrews, aka SanibelSusan

Sanibel & Captiva Fall Real Estate & More


It’s SanibelSusan back at her post, at the office in Sanibel Square, after enjoying a few days in Maine/New Hampshire last weekend for a high school class reunion. Below is a photo showing the wonderful fall foliage that we don’t get to see here, but it was nice to enjoy it for a few days.

fall-2016

Following my return, island weather here has been fabulous with low humidity and wonderful breezes, the after effects of Hurricane Matthew passing by Florida.

I also have noticed more folks back on the islands, a definite increase in traffic and occupancy at local stores and restaurants. Time to plan those winter vacations, if you haven’t already.

2016 Annual Meeting – Sanibel & Captiva Islands Association of Realtors®

Sanibel realtors logoAn early breakfast meeting yesterday included the annual meeting and election of The Sanibel & Captiva Islands Association of Realtors®. Congratulations to Realtors® Mike Badenoch, Tina DiCharia, and Becky Mulka, all elected as new Directors.

After the meeting, the SanibelSusan Team held open 2010 Sunrise Circle during the 9 a.m. to noon Realtor® Caravan. Beginning Nov 1, our local Realtor® Caravans go back to an every-Thursday-morning schedule. That is when Realtors® and the public can easily view new listings without needing an appointment. Here are some photos from Sunrise Circle.

The activity posted since last Friday in the Sanibel/Captiva Multiple Listing Service follows a couple of news items.

Upcoming Events & Re-Openings

fish-10k-20168th Annual 10K Race 4 F.I.S.H. – Tomorrow – Oct 15 – at 7:30 a.m. with start/finish line at Sanibel Community Park (relocated due to the construction underway at The Community House and across the street from SanibelSusan Realty). The Sanibel & Captiva Islands Association of Realtors® and SanibelSusan Realty Associates are just two of the 60-some event sponsors.

3rd Annual CROW Golf Tournament – Tomorrow – Oct 15 – fundraiser. More info at www.crowclinic.org.

ding-ddlogo16“Ding” Darling Days – Oct 16 to 22 – This year in addition to celebrating J.N. “Ding” Darling’s 140th birthday and National Wildlife Refuge Week, “Ding” Darling Days commemorates the centennial of the convention between the U.S. and Great Britain (representing Canada) for the protection of migratory birds. Also called the Migratory Bird Treaty, it was signed on August 16, 1916. So this year, “Ding” Darling Days will focus on “all things birds”.

Family Fun Day is Sunday, Oct 16. Friday, Oct 21 is Darling’s official birthday celebration. Saturday Oct 22 is Conservation Art Day. More info at www.dingdarlingsociety.org.

Sanibel Historical Village – reopens for the season on Oct 18. Hours are from 10 a.m. to 4 p.m. Tuesdays through Saturdays. New volunteers are always needed. http://www.sanibelmuseum.org.

12th Howl-o-ween.jpgHowl-o-Ween – Oct 28 – Island Paws 12th annual part to raise $ for the Gulf Coast Humane Society, held in the parking lot of Over Easy Café from 5 to 7 p.m.

Which Groups Will Influence Future Housing Trends?

Florida Realtors logoPosted yesterday on line at FloridaRealtors®, the below article is a long one, but has good insight into the future of residential real estate.

“Rising numbers of female executives, affluent immigrants, younger and older workers, and retirees will have a profound influence on community building in the U.S. over the next 10 years, according to a new Urban Land Institute (ULI) report, Demographic Strategies for Real Estate.urban-land-institute-logo

“According to the report, these key demographic drivers present opportunities for real estate professionals:

“The continued rise of working women – Women now earn 58% of all college degrees in the U.S., and they earn more than their spouses 38% of the time. By 2025, the number of women in the workforce will rise to 78 million, 8 million above the level in 2015.

“A rising number of affluent immigrants – Immigration will account for more than half the U.S. population growth by 2025, assuming current trends continue. Contrary to some perceptions, many immigrants coming to the U.S. are highly educated middle- and upper-class families with substantial purchasing power.

“The graying of America – By 2025, 66 million Americans will be over age 65 – 38% more than in 2015. This will create opportunities for customer segmentation, given the widely varied needs and lifestyles of younger retirees versus older ones. The surge in retirees will also create more opportunities for workers, driving incomes up for many occupations.

“Young adults driving household formation – 44 million 18-to-27-year-olds born in the 1990s will lead the majority of new household growth over the next decade, despite forming households more slowly than their predecessors. They are expected to create 14 million households by 2025.

“”This research reaffirms the extraordinary impact that demographic shifts have on real estate investment and development decisions,” says Robert Bowman, a chairman with ULI’s Residential Neighborhood Council. “Being successful in this industry means being on the front end of trends, thinking about what those trends mean for the long-term, and being able to correctly anticipate how and where people will want to live and work in the years ahead.”

“In terms of land use and development, the report predicts that the suburbs will draw about 79% of the coming wave of new households, as younger families seek “surban” communities that combine the best of urban and suburban living. Many will choose to rent rather than own homes, pushing up demand for single-family rentals in particular.

“The report groups the U.S. population by decade born, rather than by generation, to draw conclusions about behaviors shaping trends, with the most influential (and largest) groups being:

Innovators, born 1950-1959, who led a technology revolution

Equalers, born 1960-69, which became the first group with women achieving higher education levels than men

Balancers, born 1970-79, who led a shift toward achieving a better work-family balance

Sharers, born 1980-89, who led the transition to the sharing economy, which includes a higher preference to rent

Connectors, born 1990-1999, who led 24/7 wireless connectivity

Globals, born 2000-2009, who think and interact globally due to their many multi-cultural connections and free-flowing information

“Among the trends shaped by these groups:

“”Surban” developments will replace shopping centers – More retail stores will be transformed into places that sell experiences rather than goods, and more development will combine housing and retail to satisfy consumer demand for places that offer convenient, car-free shopping. An 86% surge in household formations in the coming decade will drive retail activity, particularly purchases by renters.

“Suburban office demand will return – As 1980s-born Sharers move into more senior management roles and start families, many will move from urban cores to the suburbs to live in areas with good schools that are also near employment hubs, entertainment and recreational amenities. They will be willing to share space and work remotely. Female executives will play a stronger role in office space selection.

“Housing rental rates will surge over the long term – The sharing economy’s de-emphasis on ownership will be reflected in soaring demand for rental units. Well over half of the 12.5 million net new households created over the next decade will rent, including those who have never owned, and those making the switch from owning to renting as they age. Homeownership will decline, with the national rate anticipated to be 60.8% by 2025, the lowest point since the 1950s. As more Innovators join the already large number of retirees, competition for workers will push up wages, contributing to a favorable environment for rent increases.

“Southern suburban migration will continue – The southern regions, where 42% of Americans currently live, will receive 62% of the household growth in the U.S. over the next decade. Demand will continue to rise for affordable rental housing, townhomes and small-lot detached housing, as 1990s-born Connectors join Sharers in raising families.

“Municipalities will take a stronger role in encouraging successful growth – Local government redevelopment investments have revitalized urban and suburban areas, and the most astute suburban – or surban – municipal leaders will continue changing zoning regulations to encourage mixed-use, pedestrian-friendly development that accommodates the preferences and needs of new households.

“The predictions in the report are based on several macroeconomic assumptions:

  • The economy will slow in the next few years and achieve 2% average real GDP growth over the decade
  • The influx of immigrants will remain at about 1.2 million per year
  • There will be no significant changes to federal entitlement programs such as Social Security and Medicare
  • Rising college tuition costs and student debt will continue to delay marriage and childbirth
  • Life-extending technology will allow women to have children later in life and allow older adults to remain active
  • Slightly higher mortgage rates will make homeownership more expensive
  • Rents and home prices will rise slightly faster than incomes each year.”

Sanibel & Captiva Islands Multiple Listing Service Activity October 7-14, 2016sancap GO MLS logo

Sanibel

CONDOS

5 new listings: Casa Blanca #6 1/1 $259,989; Blind Pass #F210 2/2 $479.9K; Sanibel Inn #3512 2/2 $675K; Sanibel Arms West #E2 2/2 $875K, Shorewood #1C 3/2 $875K.

2 price changes: Tennisplace #D22 1/1 now $239K, Loggerhead Cay #174 2/2 now $790K.

2 new sales: Sundial #I207 1/1 listed at $315K, Sundial #B108 1/1 listed at $369K.

No closed sales.

HOMES

7 new listings: 1714 Bunting Ln 3/2 $595K, 721 Durion Ct 3/3 $825K, 521 Lighthouse Way 3/2 $995K, 1391 Jamaica Dr 4/3 $1.295M, 900 Snowberry Ln 4/3 $3.595M, 3557 West Gulf Dr 3/3.5 $4.5M, 3577 West Gulf Dr 4/5.5 $7.595M.

1 price change: 696 Kinzie Island Ct 4/5 now $2.25M.

4 new sales: 970 Palm St 3/2 listed at $525K, 1133 Sand Castle Rd 3/2 listed at $679K, 6188 Henderson 3/2 listed at $779K, 1112 Olga Ave 6/2.5 (duplex) listed at $8747.2K.

No closed sales.

LOTS

2 new listings: 1299 Par View Dr $259K, 5706 Sanibel-Captiva Rd $549K.

1 price change: 1639 Serenity Ln now $295,555.

No new or closed sales.

Captiva

CONDOS

No new listings.

1 price change: Sunset Captiva #201 2/2 now $975K.

No new or closed sales.

HOMES

No new listings.

1 price change: 11514 Andy Rosse Ln 5/5 now $2.375M.

No new or closed sales.

LOTS

Nothing to report.

(This representation is based, in whole, or in part, on data supplied by the Sanibel & Captiva Islands Association of Realtors® or its Multiple Listing Service. Neither the association nor its MLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or its MLS may not reflect all real estate activity in the market. The information provided represents general real estate activity in the community and does not imply that SanibelSusan Realty Associates is participating or participated in these transactions.)

So until next Friday, please enjoy the fall weather wherever you are, but don’t forget to schedule your next island stay or buy your property to enjoy then. Winter will be here before we know it & winters on Sanibel & Captiva are the best!

P.S. Facebook followers, if you don’t follow the “Beautiful Sanibel Island” page, you are missing some terrific photos. Here is one posted yesterday saying it was taken about noon on Middle Gulf. The water looks wonderful. Thanks for sharing, Tracy W, hope you don’t mind that I am sharing too!

10-13-16-middle-gulf

Susan Andrews, aka SanibelSusan

Fall Friday…Sanibel Island Real Estate


imageThe good news is that Hurricane Matthew had little effect on Sanibel and Captiva Islands, with beautiful lower-humidity weather is expected here, now that it has passed.

The week’s activity posted in the Sanibel/Captiva Multiple Listing Service follows a couple of news items below. Our listings had a few more showings this week, we had a nice closing, and I negotiated an offer on a condo listing – a good indications that the islands are picking up.

Traffic by the office is noticeably heavier and several snowbirds have stopped in to say they are back.

5 Key Issues Affecting Real Estate

Florida Realtors logoHere are some excerpts from an article in the October issue of “Florida Realtor®” magazine. Headlined with “Get Ahead of the Curve”, it describes the five issues which will have the greatest effect on real estate business in the next few years, as identified by Counselors of Real Estate. There is a list of the top 10 issues at http://www.cre.org.

“The Changing Global Economy. Currency issues, declining exports and soft energy prices are three reasons the International Monetary Fund (IMF) has revised Gross Domestic Product (GDP) growth downward for much of the globe in 2016-2017. Political issues and conflict undermine stability, as well….

“Demographic Shifts. The Millennials (ages 19-35) have overtaken the Baby Boomers (ages 52-70) in sheer numbers, but both groups remain substantial real estate consumers. America’s population of persons aged 90 and older has almost tripled since 1980, and is expected to increase to more than 7.6 million over the next 40 years, according to the U.S. Census Bureau. Older households and younger households are competing for housing in many places….

“The Political Environment. The political environment has become acrimonious at all levels – global, national, state, local – and affects investment, business and household location decisions with issues ranging from the perceived ability of governments to function to taxation to social issues….

“Housing Affordability & Credit Constraints. New housing market issues are emerging as affordability and credit constraints are challenging both the rental and homeownership markets. Continued stringent credit requirements prevent many households from buying homes, increasing demand for rental property. Limited availability of for sale inventory and income stagnation are affecting affordability. Multifamily development continues but rents are outstripping incomes in many communities….

“The Disappearing Middle Class. The wealth and income gap continues, with a number of measures showing stagnant or declining wages and wealth. A Pew Research study shows that the median income for middle-class households fell by nearly 5% between 2000 and 2014. Their median wealth declined by 28% after the housing market crisis and the subsequent recession. Costs have risen dramatically for many large-dollar items that affect middle-class families, including college tuition and out-of-pocket costs under employer health plans. To cover increasing costs and eroding asset wealth, an increasing percentage of households has moved from one income to two incomes. At the same time, the Millennial generation is falling behind in assets and income (and many young people are coping with student loan debt)….”

When a Property Under Contract Is Damaged

As posted Wednesday on FloridaRealtors® on line:

“Since all contracts are different and contain various provisions regarding how damage to the property is handled, the answers depend on the language of your specific deal. However, if you use the Florida Realtors/Florida Bar contracts, Standard 18M covers repairs, the obligation of the seller and other issues related to property damaged before closing. (Note: SanibelSusan uses the contracts approved by Florida Realtors and the Florida Bar.)

“This section, entitled Risk of Loss, states that if the property is damaged by fire or other casualty loss and the cost of restoration does not exceed 1.5% of the purchase price, the seller must restore the property and closing shall proceed according to the terms of the contract. In the event the cost of restoration exceeds 1.5% of the purchase price, the buyer has the option of taking the property “as is” together with the 1.5%, or the buyer can receive his or her deposit back, and all parties are released from the contract.

“In the event of any casualty damage to the property, it is important for the parties to get an estimate for repairs as quickly as possible so they will have a better understanding of their options. Additionally, depending on the type of casualty loss, the contract’s force majeure provision may apply, which could delay the closing or terminate the deal.

“As risk of loss could involve potential legal issues, buyers and sellers may also want to consult their own legal counsel.”

What Is Shiplap? Do You Know About This Hot Decor Trend?

HGTV logo.jpgMost friends know that SanibelSusan is not a big TV fan, but when I do watch, I often flip to HGTV. Here is an article posted on Facebook today (Wednesday) by Realtor.com. The show mentioned is one of my favorites.

“One of the hottest trends in wall decoration might be a term you’ve never heard of. Fortunately, we’re here to save you from embarrassing yourself in front of your design-savvy peers by blurting, “What is shiplap?”

“This horizontal pattern of interlocking wooden boards was traditionally used to build sheds and barns (but not ships, in spite of its name). Long seen as cheap weatherproofing, shiplap is now being used by designers to cover interior walls. Here’s everything you need to know about shiplap.

“How did shiplap become so popular? Shiplap became all the rage thanks to HGTV’s “Fixer Upper,” a home design show hosted by Chip and Joanna Gaines. The Texas-based couple have used the stuff in many of the homes they renovated, and the look caught on from there. It’s not hard to see why—shiplap has a lot going for it as a way to add rustic chic for cheap.

““People are seeing more and more of it in magazines and on TV, because it is reminiscent of a simpler time,” says interior design expert Danielle Driscoll of Finding Silver Pennies.

“Shiplap also adds subtle texture to walls without going overboard, giving a clean-but-not-boring backdrop to a room. And this simplicity makes shiplap versatile and able to complement a number of styles. “Neutral decor is very popular, and you can get a very neutral look with shiplap, with its horizontal lines,” Driscoll adds.

“How to install shiplap – Installing shiplap onto an interior wall is easy, because the grooved boards interlock. Just start at the bottom, screwing the first board in place. “Once you’ve put the bottom piece onto your wall, everything sits on top,” says Driscoll. “Just slot in place.”

“Before installation, however, Driscoll recommends priming the wood then painting, since it’s easier to do these steps before the boards are on the wall.

“While shiplap is usually installed horizontally and painted white, there are many other possibilities. According to Driscoll, shiplap can also be used untreated, stained, or washed with another color. It can also be used vertically to make a low-ceilinged room look taller.

““Particularly painted white, it can make a space look bigger and more inviting,” she says.

“After installing shiplap in her home, Driscoll added a nautical theme complete with a “Sea Side” sign on the wall. But she doesn’t think people interested in it should feel limited. “It really works well with any decor: coastal, shabby chic, farmhouse, modern, and industrial,” she says. “Shiplap gives an old-world, charming look to any home.””

Sanibel & Captiva Islands Multiple Listing Service Activity September 30-October 7, 2016

Sanibel
CONDOS
2 new listings: Loggerhead Cay #332 2/2 $494.5K, Gulfside Place #123 2/2 $1.388M.
1 price change: Atrium #203 3/2 now $1.695M.
3 new sales:  Sundial #A208 2/2 listed at $809.9K, Sanibel Surfside #123 2/2 listed at $874K (our listing), Sanibel Surfside #117 2/2 listed at $965K.
5 closed sales: Sanibel Moorings #822 2/2 $422.5K (our listing), Sandpebble #3D 2/2 $425K, Loggerhead Cay #331 2/2 $495K, Heron at The Sanctuary #1B 3/3.5 $584.5K, Sandalfoot #5A1 2/2 $752.5K.

HOMES
5 new listings: 9247 Dimmick Dr 3/2 $629K, 810 Elinor Way 3/2 $649K, 563 Hideaway Ct 3/2 $795K, 3125 Twin Lakes Ln 3/3 $839K, 2143 Starfish Ln 3/3.5 $1.495M.
3 price changes: 519 Kinzie Island Ct 3/2.5 now $1.395M, 626 Kinzie Island Ct 3/2.5 now $1.799M, 2451 Blind Pass Ct 4/4.5 now $2.199M.
2 new sales: 9292 Belding Dr 3/2.5 listed at $399K, 526 N Yachtsman Dr 3/2 listed at $995K.
1 closed sales: 1439 Albatross Rd 3/2 $444.5K.

LOTS
No new listings or price changes.
2 new sales: 2153 Periwinkle Way listed at $299K, 3965 Coquina Dr listed at $399K.
No closed sales.

Captiva
CONDOS
1 new listing: Beach Homes #25 3/2 $2.295M.
No price changes.
2 new sales: Bayside Villas #4206 1/2 listed at $285K, Beach Villas #2614 2/2 listed at $620K.
No closed sales.

HOMES
No new listings or price changes.
1 new sale: 1135 Longifolia Ct 4/4.5 listed at $3.5M.
No new or closed sales.

LOTS
Nothing to report.

(This representation is based, in whole, or in part, on data supplied by the Sanibel & Captiva Islands Association of Realtors® or its Multiple Listing Service. Neither the association nor its MLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or its MLS may not reflect all real estate activity in the market. The information provided represents general real estate activity in the community and does not imply that SanibelSusan Realty Associates is participating or participated in these transactions.)

Happy weekend to all! If this write up is a little sketchy, it is from being posted from my iPad. I am in Maine/New Hampshire for the weekend for a class reunion.

The SanibelSusan is working on Sanibel too though. Dave, Elise,& Lisa are covering the office until I return. TGIF, Susan Andrews, aka SanibelSusan

Bidding September Goodbye at SanbelSusan Realty


It’s SanibelSusan reporting another Friday of beautiful Sanibel Island weather. Today we continue to watch the track of Hurricane Matthew. It could miss much of Florida, but still bears a close eye.

This morning, there also was a news report that red tide which over the last few days has plagued Sarasota county beaches to the north, could be heading this way. There is a red tide watch through tomorrow for Lee and Collier counties. Fingers crossed that early Hurricane Matthew winds disburse it.

Teammate Lisa received the below “green flash” photos from a reader who noticed the one mentioned last week. She said she also saw one on her last island visit. (Thanks for sharing, Cheri.)

green-flash

On the “Upcoming Events” tab above, I have been adding fall/winter happenings as they are scheduled and announced. “Season” is filling up nicely with plenty of things to do.

Record Turtle Nesting Season

sea-turtle-nest

Those here this summer likely noticed the large number of sea turtle nests. As reported on-line at the “Santiva-Chronicle”, as of Monday, “SCCF (Sanibel-Captiva Conservation Foundation) reports that 23,017 sea turtle hatchlings have emerged. With almost 100 nests left on the beach, this season could beat last season’s 26,727 hatchlings. A normally-developed nest yields about 100 hatchlings to offset a survival rate of about 1 in 1,000 once the turtles are in the water.

“Last year was a record-setting year here for nests with more than 600. This year has obliterated that mark with a new record total of 826 nests, two of which are endangered green sea turtle nests.

“SCCF turtle volunteers comb the beaches each morning during the nesting season to chart the nests, stake them off and protect them from coyotes and other predators. The volunteers have been busier this season than ever before in all three of SCCF’s designated turtle nesting zones. All three zones have set nesting records. The volunteers also log false crawls, where a female turtle comes ashore but for one reason or another doesn’t lay eggs. The previous record for false crawls has also fallen with 1,447 false crawls found this season….

“The nesting season took a hit recently with the passage of Hurricane Hermine. Hermine a tropical depression when it skirted past the barrier islands on Aug 30 hundreds of miles out to sea. It created a storm surge that SCCF said washed out 57 nests on Sanibel and 24 on Captiva, a total loss of just under 10%….”

New Places/Things & Re-Openings

DunesEntrySignDunes Speed Humps – To reinforce the 20-mph speed limit to travelers taking this alternate route during high season, four humps have been installed on Sand Castle Road in The Dunes subdivision.

Two are on the north side of the circle and two on the south side. Speeders beware!

Noah’s Ark – Reopens Tues, Oct 4.

Sanibel Farmers MktSanibel Farmers Market – The locals are ready and this is an indication that “season” is coming. Sanibel Farmers Market opens Sunday and will be open every Sunday through Apr 30 – from 8 a.m. until 1 p.m. on the grounds of City Hall. The only exception is Christmas Day, when it instead will be open the next day, on Monday.

Restaurant Reopenings:

  • Bleu Rendezvous French Bistro – Reopens Thurs, Oct 6.
  • Blue Coyote – Reopens Tues, Oct 4.
  • Sweet Melissa’s Café – Bar renovation is almost complete. They reopen Tues, Oct 4.
  • Trader’s Gulf Coast Grill & Gifts – Has their sold-out Shell Museum fundraiser on Mon, Oct 3. Reopens the next day for lunch and dinner.

Coming Soon:

  • Totally Baked – in the Island Center, 2407 Periwinkle Way (former location of McIntosh Books) where construction began this week, is expected to open in early Nov. This week, Sanibel Planning Commission approved a variance and development permit that will allow them to have 16 outdoor seats.
  • Pasture & Pearl – The “Island Sun” posted that this new restaurant will open in early 2017 in The Village Shops as a “refined and modern dining experience…a more relaxed interpretation of the “fine dining” concept….”

 

Florida Ranks 4th as Business-Friendly State

Florida Realtors logoAs posted yesterday by FloridaRealtors® on line:

“The nonpartisan Tax Foundation released its 13th annual State Business Tax Climate Index, which measures how well-structured each state’s tax code is by analyzing more than 100 variables in five tax categories: corporate, individual income, sales, property and unemployment insurance.

“Wyoming once again took first place with the most competitive tax code in the country, while New Jersey maintained its long-standing position at the bottom of the pack.

“Overall, Florida ranked fourth. Only three other states were deemed to have a more business-friendly tax code. This year’s most competitive states include:

  1. Wyoming 2. South Dakota 3. Alaska 4. Florida 5. Nevada 6. Montana 7. New Hampshire 8. Indiana 9. Utah 10. Oregon

“This year’s least competitive states include:

  1. Louisiana 42. Maryland 43. Connecticut 44. Rhode Island 45. Ohio 46. Minnesota 47. Vermont and D.C. 48. California 49. New York 50. New Jersey

“States are penalized for overly complex, burdensome and economically harmful tax codes, and rewarded for transparent and neutral tax codes that do not distort business decisions. A state’s ranking can rise or fall in rank because of its own actions or actions taken by other states….”

The full report is available online

A Lesson for Sellers on Disclosures

realtor logoThe below article posted on RealtorMag® “Daily Real Estate News” on Sep 21:

“Sellers may feel hesitant to reveal any minor problems with their home; afraid they’ll scare off buyers. But here’s a warning for your sellers: They may land in legal trouble if they fail to disclose.

““Most sellers think it is in their best interest to disclose as little as possible,” Rick Davis, a real estate attorney in Kansas, told realtor.com®. “I completely disagree with this sentiment. In the vast majority of cases, disclosing the additional information (especially if it is something that was previously repaired), will not cause a buyer to back out or ask for a price reduction.”

“Disclosure laws vary from state to state, and sometimes even on a local level. (Florida is a full disclosure state.)

““In general, sellers should disclose any known facts about the physical condition of the property, existence of dangerous materials or conditions, lawsuits or pending matters that may affect the value of the property, and any other factors that may influence a buyer’s decision,” according to a recent article at realtor.com®.

“This includes disclosing issues that have been previously repaired, Davis says. Also, disclose any inspection reports.

““It is much better to lose a buyer by clearly disclosing all known issues than it is to spend two years and tens of thousands of dollars in litigation,” says Adam Buck, a certified real estate specialist with the Frutkin Law Firm in Arizona.

“Rest assured, sellers won’t be put on the hook for failing to disclose issues that they didn’t know about.

They should be careful not to make any guesses when prompted, particularly when it comes to the measurements of the home — one common problem area for disclosures.

““Even if you’ve had an appraiser check out your home, you may have no idea how many square feet it truly is because, as it turns out, there’s no single agreed-upon way to measure a home,” the article states. “Three different appraisers can come up with three different measurements.” Don’t make a guess or buyers can come back and accuse you of misleading them.”

Sanibel & Captiva Islands Multiple Listing Service Activity September 23-30, 2016

Sanibel

CONDOS

3 new listings: Sanibel Surfside #225 2/2 $799K, Atrium #201 3/3 $1.595M, By-The-Sea #9 3/2 $1.749M.

2 price changes: Tennisplace #D22 1/1 now $245K, Tanglewood #1A 3/2 now $1.099M.

1 new sale: Tennisplace #D21 1/1 listed at $229K.

4 closed sales: Loggerhead Cay #462 2/2 $505K, Sanibel Moorings #1542 3/2 $750K, Sundial West #A205 2/2 $789.5K, Surfside 12 #B1 3/2 $862.25K.

HOMES

2 new listings: 2401 Shop Rd 2/1 $298K, 1525 San Carlos Bay Dr 3/2 $1.995M.

3 price changes: 9209 Kincaid Ct 3/2 now $489K, 1501 Sand Castle Rd 5/3.5 now $1.049M, 1842 Woodring Rd 3/3.5 now $2.295M.

4 new sales: 1364 Jamaica Dr 2/2 listed at $629.9K, 588 Hideaway Ct 3/2 listed at $699K, 3850 Coquina Dr 3/3 listed at $899K, 584 Kinzie Island Ct 3/4 listed at $1.795M.

1 closed sale: 774 Sand Dollar Dr 3/2 $1.225M.

LOTS

1 new listing: 2401 Blue Crab Ct $879K.

No price changes, new, or closed sales.

Captiva 

CONDOS

No new listings, price changes, or new sales.

1 closed sale: Beach Villas #2416 1/1 $507K.

HOMES

No new listings.

1 price change: 16464 Captiva Dr 8/8.5 now $6.295M.

No new sales.

1 closed sale: 11523 Wightman Ln 4/4 $1.82M.

LOTS

Nothing to report.

(This representation is based, in whole, or in part, on data supplied by the Sanibel & Captiva Islands Association of Realtors® or its Multiple Listing Service. Neither the association nor its MLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or its MLS may not reflect all real estate activity in the market. The information provided represents general real estate activity in the community and does not imply that SanibelSusan Realty Associates is participating or participated in these transactions.)

So as September comes to an end, the wonderful popcorn-like clouds won’t be seen as often. They seemingly jump from the sky & create the best sunsets! Here are a couple from this week!

2016-09-28

2016-09-27

Enjoy your weekend, Susan Andrews, aka SanibelSusan