It’s SanibelSusan here with our weekly report of island happenings, real estate and otherwise. The weather is fabulous again today and expected to continue for at least the next week, with temperatures forecast to go into the low 80’s every day. My buddies in the rental/accommodation business advise that the island has a large number of check-ins tomorrow for the holiday week and is expected to remain close to “full” for the next few weeks. We sure hope that means more real estate action.
“Honoring the Past & Protecting the Future” Campaign
Our February monthly Realtor membership meeting is always well attended and yesterday was no exception. I got to introduce our speaker, Erick Lindblad, Executive Director of the Sanibel-Captiva Conservation Foundation since 1986. Our island Realtor organization often works in partnership with the Foundation, in educating ourselves, our clients, and the public in preservation and conservation. Erick’s presentation on SCCF’s campaign to purchase the 28+acre Bailey homestead on Periwinkle Way was well received. It is an exciting opportunity to have more protected land on Sanibel’s east-end and always positive to learn something new from our friends at SCCF. Did you know that the east-end has the island’s most migratory birds? How about Pond Apple Park, next to the Bailey Homestead? Have you been there yet? This expected new purchase will open up a complete wildlife corridor from the Chamber of Commerce right through to the conservation land on Dixie Beach Boulevard.
Erick told us that the original Bailey homestead raised mostly row crops, tomatoes and bell peppers, but later changed to citrus after the island flooded in the storm of 1926. SCCF has already been exploring that acreage and found an old windmill that Francis Bailey told them produced the first running water at the homestead. Hopefully that will be restored. When the campaign is successful, SCCF also intends to preserve the home with Bailey family history. The property may even eventually include some SCCF offices and a second native plant nursery. Read more about the project and how to make a donation at sccf.org .
Opened last week in Tahitian Gardens. This Italian/French-style bakery cafe is owned by Chef AJ Black and his wife Jolene, also owners of Il Tesoro Italian restaurant on Tarpon Bay Road. In addition to gelato, sorbet, and pastries, the bakery cafe features such offerings as French crepes, plain and stuffed croissants, cupcakes, cakes, lasagna, gnocci, manicotti, fresh-baked stuffed breads, pizza, individual cheesecakes, profiteroles, a chocolate fountain for coating fruit, & fresh squeezed Florida juices. Outdoor seating will be available soon for those stopping for a quick cappuccino, or a “bomba” (scoop of gelato in a glass of espresso).
28th Annual Arts & Crafts Fair This Weekend
Sponsored by the Sanibel & Captiva Islands Rotary, this special looked-forward-to event is always well-attended and usually brings us a few walk-ins. It’s right across the street from SanibelSusan Realty at The Sanibel Community Center and City Park, on Saturday 9 a.m. to 5 p.m. and Sunday 9 a.m. to 4 p.m. This year a record number of 230 artists vied for the 110 spaces. One of our favorites, Ikki Masumoto, will be there again this year. More details on www.SanibelArtFair.com .
Scoop from The Sanctuary
Congratulations to The Sanctuary Golf Club for recently being recognized by “Golf World” magazine and the Association of Golf Merchandisers as having one of the Top 25 best pro shops in the U.S. It was just a few weeks ago that I reported the various new membership offerings at The Sanctuary. Today I heard that their Social Memberships (with $10K initiation fee) are nearly sold out. A few remain and then those memberships will be wait-listed. More info at sanctuarygc.net
Real Estate Update
Again yesterday at Realtor Caravan, many price reductions were announced. Colleagues continue to get Seller calls/visits complaining that properties are not getting showings or offers. We get those too, so offer some advice to help those wanting to understand our real estate dilemma. There is more than a 2-year supply of Sanibel condos and homes, and more than a 5-year supply of lots for sale. Just 36 properties have sold so far this year, with 672 for sale. More than 150 of these listings have reduced their price since the first of the year. Even so, many prospective buyers still think prices are going to drop more. As much as we advertise and cooperate with showings, it is “all about the price”. Unless a property is unique, the competition is stiff and it is the very well priced property that is getting interest. Pricing needs to be not just fair, but also have a built-in cushion for the perceived adjustment that is yet to come.
The next eight weeks, when we have the most qualified buyers in town, is typically our best window of opportunity for sales. Based on recent showing activity, I don’t think that this year will be an exception. It remains an excellent time to buy – just not such a very good time to sell – unless, of course, you are one of those sellers moving up to another property larger, more expensive property. That happens a lot on the islands. Keeps the Realtors smiling!
Sanibel & Captiva MLS Activity February 11-18:
2 new listings: Spanish Cay #A1 2/2 $339.9K, Gulfside Place #106 2/2 $1.129.5M.
12 price changes: Colonnades #47 1/1 now $174K (our listing), Colonnades #41 1/1 now $189K, Sanibel Siesta #403 2/2 now $399.9K, Sundial #O302 2/2 now $499K, White Sands #12 2/2 now $599K (our listing), Kings Crown #104 2/2 now $729K, Island Beach Club #P1E 2/2 now $799K, Sundial #E201 2/2 now $799K, Sundial #R206 now $899K, Pointe Santo #C3 3/2 now $979K, Pointe Santo #A35 2/2 now $999K, Wedgewood #203 3/3.5 now $2.149M.
3 new sales: Breakers West #A4 2/2 listed for $480K, Yacht Haven #5 3/2 listed for $795K (short sale), Atrium #204 2/2 listed for $1.049M.
2 closed sales: Island Beach Club #330B 2/2 $435.5K, Heron at The Sanctuary #2B 2/2.5 $589K.
3 new listings: 617 East Rocks Dr 3/2 $579K, 4210 Old Banyan Way 3/2 $649K, 1807 Buckthorn Ln 3/2.5 $895K.
10 price changes: 1454 Sandpiper Cir 2/2 half-duplex now $345K, 613 Sea Oats Dr 2/2 now $399.9K, 2551 Sanibel Blvd 2/2 now $499K, 474 Surf Sound Ct 3/2 now $529K (short sale), 1148 Harbour Cottage Ct 3/3 now $774K, 6090 Dinkins Lake Rd 3/3.5 now $1.095M, 1817 Buckthorn 4/3.5 now $1.175M, 4630 Rue Bayou 4/4 now $1.495M, 4617 Rue Belle Mer now $2.149.85M, 1290 Isabel Dr 6/4.5 now $2.9M.
5 new sales: 1467 Sand Castle Rd 3/2 listed for $489K, 951 Sand Castle Rd 3/2 listed for $499K, 950 Cabbage Palm Ct 3/2 listed for $623K (short sale), 246 Christofer Ct 4/2.5 listed for $865K, 1314 Isabel Dr 4/3.5 listed for $2.995M.
4 price changes: 2285 Wulfert Rd now $194K (short sale), 604 Boulder Dr now $275K, 4309 Gulf Pines Dr now $375K, 0 Gulf Pines Dr now $375K.
1 new sale: 1253 Par View Dr listed for $385K.
No closed sales.
1 new listing: Tennis Villas #3115 1/1 $319K.
No price changes, new or closed sales.
2 new listings: 11522 Andy Rosse Ln 4/4.5 $2.345M (foreclosure), 11524 Andy Rosse Ln 4/4.5 $2.395M (foreclosure).
3 price changes: 15351 Captiva Dr 5/4 now $2.995M, 16697 Captiva Dr 2/2 now $3.1M, 16778 Captiva Dr 4/3 now $3.995M
No new or closed sales.
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 the general real estate activity in the community and does not imply that SanibelSusan Realty Associates is participating or participated in these transactions. If your property currently is listed with another broker, this is not intended as a solicitation of that listing.