November in a Real Estate Office on a Tropical Island

The phone has been ringing off the hook this week with folks looking to list their island property. It’s going to be an interesting winter if much more inventory comes on the market. Smart Sellers know that our best window of opportunity for sales is from now until Easter, so this is the time of the year when we usually get the most new listings; but, unfortunately many Sellers are in price shock, when I offer listing price recommendations. The reality of Buyers being in the driver’s seat and prices being down sometimes isn’t easy to take.

Tropical Weather

We’ve had another week of beautiful weather in Southwest Florida and expect it will continue through the weekend, if not longer. Those bright blue skies make for the best showings and we have a few scheduled.


Sanibel’s Veterans Day Ceremony

yesterday was well attended including a large group of young people from The Sanibel Recreation Center. Was great to see them waving their flags and paying tribute to the many veterans in attendance. This event is held every Veterans Day, gathered around the flag pole at City Hall. Plan to attend next year. It’s such a great way to say “thank you” to our veterans. Plus the rousing patriotic music by the Sanibel Band and touching battle stories send you away feeling good.


Florida Condo Sales Up 3rd Quarter

Sales of existing Florida condominiums rose 15 percent in the third quarter of 2010 compared to the same period a year earlier, according to the latest housing statistics from Florida Realtors®. The same holds true for Sanibel where during that same time, 23 condos sold this year, compared to 20 last year.  On Captiva, seven sold this year, compared to seven last year. “A healthy housing market is built on the foundation of a robust economy,” said Dr. Sean Snaith, director of the University of Central Florida’s Institute for Economic Competitiveness. “As the economic recovery continues in Florida – and in particular as the labor market improves – the housing market will follow suit. The price decline in the condo market continues to attract domestic and foreign buyers to Florida to take advantage of this buying opportunity. In the year-to-year quarterly comparison for existing single-family home sales, 41,122 homes sold statewide for the quarter compared to 44,451 homes in third quarter 2009 for a 7 percent decrease. Looking at Sanibel and Captiva, however, the decrease was much larger. On Captiva, only one home sold third quarter last year and none sold this year. On Sanibel, 45 homes sold last year, compared to 21 this year, which is a 114 percent decrease. Timothy Becker, Director of The University of Florida’s Bergstrom Center for Real Estate Studies, noted that investment in real estate continues to flow into Florida, though investors are wary about the economy. “The apartment sector is the stellar performer,” he said, adding that conditions continue to improve in the commercial sector.

Fun Island Happenings

11/12, tonite – First Annual Sanibel-Captiva Lions Club Fish Fry, Community House, 5 p.m. until the fish are gone, proceeds to benefit Southeastern Guide Dogs.

11/21, Sunday29th Annual Taste of the Islands, Community House, noon to 5 p.m. In addition to the terrific samplings of island food this fundraiser for C.R.O.W. has just announced the bands that will be performing. Be sure & catch longtime island band, The Troublestarters (from 3:30 p.m. on). I’ll be in the office with the front door open, soaking up the sounds.

11/26, Friday – Annual ‘Tween Waters Tree Lighting Ceremony and fireworks at sunset. This event kicks off three weeks of Captiva Holiday Village events. Details to follow and on events calendar.


Sanibel & Captiva Islands Multiple Listing Service

Here’s the activity posted since last Friday (November 5-12, 2010):

2 new listings:  Gulfside Place #117 2/2 $1.075M, Wedgewood #203 3/3.5 $2.395M.
5 price changes:  Loggerhead Cay #373 2/2 now $439K (our listing), Island Beach Club #220C 2/2 now $529K, Blind Pass #B209 2/2 now $548.9K, Loggerhead Cay #574 2/2 now $579K, Sayana #103 2/2 now $889K.
1 new sale:  Villa Sanibel #2A 2/2 listed for $399K.
No closed sales.
9 new listings:  1709 Serenity Ln 3/3 $440K, 683 Emeril Ct 2/2 $499.9K, 1148 Seagrape Ln 2/2 $575K, 280 Southwinds Dr 3/3.5 $650K, 2540 Coconut Dr 3/3.5 $1.149M, 1162 Kittiwake Cir 3/3.5 $1.495M, 800 Sand Dollar Dr 4/3.5 $1.595M, 6004 White Heron Ln 4/4/2 $1.895M, 2255 Troon Ct 4/5.5 $2.1M.
10 price changes:  540 East Rocks Dr 3/2 now $579.9K, 2143 Periwinkle Way 6/6 triplex now $595K (short sale), 1705 Serenity Ln 3/2.5 now $599.25K, 215 Robinwood Cir 3/2 now $735K, 310 East Gulf Dr 3/2 now $749K, 9446 Beverly Ln 3/3.5 now $775K, 827 Angel Wing Dr 3/2 now $850K, 5729 Baltusrol Ct 3/3.5 now $1.195M, 561 Kinzie Island Ct 5/4.5 now $1.344.9M (foreclosure), 1304 Seaspray Ln 3/2 now $3.149M (short sale). 
3 new sales:  1148 Shell Basket Ln 4/2 duplex listed for $398K, 3705 West Gulf Dr 5/5/2 listed for $2.995M (short sale), 793 Birdie View Pt 3/3 listed for $1.245M.
No closed sales.
No new listings.
2 price changes:  5439 Osprey Ct now $394K (foreclosure), 629 Lighthouse Way now $1.145M.
No new sales or closed sales.
No new listings.
3 price changes:  Captiva Hide-A-Way #1C 2/2 now $529K, Captiva Hide-A-Way #1B 2/2 now $649K, Captiva Shores #5C 2/2 now $845K.
1 new sale:  Lands End Village #1635 2/2 listed for $1.325M.
1 closed sale:  Marina Villas #904 2/2 $545K.
No new listings.
3 price changes:  16 Urchin Ct 2/2 now $699K, 1073 South Seas Plantation Rd 3/3.5 now $2.3M, 1 Sunset Captiva Ln 2/2 now $2.195M.
No new sales.
1 closed sale:  11525 Gore Ln 6/6 $1.62M.
Nothing to report.
NOTE: 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 the general real estate activity in the community and does not imply that SanibelSusan Realty Associates is participating or participated in these transactions.