Reporting From the Florida Realtors® 2013 Convention in Orlando

I’m a bit late in posting the blog today, but it is still Friday and it was for good reason. I have spent a whirlwind couple of days in Orlando at the Florida Realtors® 2013 Convention and Trade Expo – lots of meetings, networking, and educational sessions.

Yesterday which is often referred to as Super Sales Day was when many Realtors® from around the state came to attend training sessions and visit the trade show. Today and tomorrow attendance usually dwindles as the leadership team meets with business moving forward from subcommittees to committees, culminating in the Directors Meeting on Sunday.

This morning at the Faculty Development Subcommittee meeting where I am a member, motions were sent forward to approve several instructors and teachers who auditioned before a group of us on Wednesday. This is the process used for adding new faculty members to teach our Continuing Education and Graduate Realtor® Institute classes in the year to come.

Then I attended a lively session by instructor/coach Zan Monroe called “The Perfect Real Estate Day!” I have enjoyed his classes in previous years and this one, as expected, was “another winner”. (www.ZanMonroe.com)

At the midday General Session, the ballroom was full when we were entertained and trained by The Property Brothers from HGTV. The brothers Realtor® Drew and his brother Contractor Jonathan are even younger in person than on TV! (http://TheScottBrothers.com).

Then, at the Land Use, Property Rights, and Sustainable Development Subcommittee many Southeast and Southwest FL colleagues joined the committee members for several presentations on Everglades restoration and water quality. Two motions were sent forward from this group too. (The photo here was taken during an excellent update on red tide, presented by a research scientist from Mote Marine Laboratory in Sarasota.)

As the Educational Ambassador at a “Marketing With Technology” session this afternoon by Doug Devitre, a standing-room-only crowd got the latest tips on the latest technology. (www.DougDevitre.com) That Doug talks as fast as technology changes. I heard him speak two years ago too and the technology improvements just in that short period of time are staggering. Great to get tidbits from him that we need to use today – and quickly before things change more!

Then my business day finished up at the Legislative and Political Forum where the first speaker was our regional FEMA Director who summarized the flood insurance effects of the Biggert-Waters Reform Act of 2012. The better received presentation was by Florida Governor Rick Scott who updated attendees in the positive changes in Florida’s economy, jobs, and state budget. Now that news was all good – no, more like “excellent”. This tidbit caught my attention: Did you know that Florida’s 4th graders have the highest reading achievement scores in the world? (That’s right, not the nation, but the world.) The Governor told us so!

Tomorrow should be another busy but productive day with the Professional Development Committee meeting, followed by the Professional Standards Forum, the Resort and Second Home Specialists Forum, our District meetings, the 2014 Officer Candidate Forum, and finally the Florida Realtors® PAC Jamboree. Whew! There is a long list of educational sessions being offered too, if this girl gets a breather between meetings.

Until next week, here are a couple of other real estate news items, followed by the Sanibel and Captiva Islands Multiple Listing Service Action over the past seven days.

10 Markets Where More Buyers Bring Cash

A CNNMoney article reposted by “Daily Real Estate News” in late July reminded me of our island real estate market. On Sanibel and Captiva Islands, by far our most sales are to cash buyers. Sometimes those cash buyers think they should pay less for a property because their offer has what they consider perfect terms: “cash” “no contingencies” “quick close”. Offers like that can be a Realtors’® dream. However, when offers like that are the norm there often is no price concession. Here’s the article:

“Home buyers who require financing for their home purchase can struggle to compete against buyers who have offers of all-cash. Where are all-cash deals the most prevalent? Cash deals represented 80% of home sales in June in Vermont; 58% in Nevada; 57% in Florida, and 51% in New York, according to RealtyTrac. Cash deals represent a very small percentage in Texas, Utah, and New Mexico.

“The markets with the most all-cash transactions tend to have a high number of foreclosures and depressed home prices, which attracts investors and private equity firms, according to RealtyTrac. 

The following 10 metros had 40% or more all-cash deals out of the total home sales in June, according to RealtyTrac:

“Miami/Ft. Lauderdale: 64%

Las Vegas: 62%

Tampa, FL: 58%

Detroit: 56%

Orlando: 53%

New York: 49%

New Orleans: 43%

Memphis: 43%

Jacksonville, FL: 42%

Atlanta: 42%.”

Florida’s Rebound Powered by Foreigners’ Housing Money

Tomorrow during our Resort and Second-Home Specialists Forum, we will share conditions in our various local markets around the state. In the meantime, here’s an interesting article that was posted on-line at FloridaRealtors this week (sourced from Bloomberg).

“Record foreign investment in Florida housing over the last three years is boosting property-tax revenue in the localities hardest hit by the recession.

“In the 10 Florida counties that have had the largest influx of international cash since 2010, property-tax assessments have risen by an average of 4.1% this year, according to state records. That’s nearly twice as fast as the rest of the state…

“The purchases are helping localities in south and central Florida recover from the 18-month recession, which ended in June 2009 and left the state with the second-highest foreclosure rate, behind Nevada, depressing prices and tax revenue.

“Even with the buying, prices in most parts of the state haven’t returned to pre-recession levels. In the metropolitan areas of Miami and Tampa, prices are about 40% below the 2006 peak, according to an S&P/Case-Shiller housing report released July 30.

“Foreign investment in Florida residential property has been rising since the end of the recession, according to a March report by the Washington-based National Association of Realtors.
 
Sanibel & Captiva Multiple Listing Service Activity from August 9 to 16

Sanibel
CONDOS
5 new listings: Sundial #C307 1/1 #339K, Sundial #C308 1/1 $339K, Mariner Pointe #1042 2/2 $424K (our listing), Sanctuary Golf Villages I #6-3 3/3 $699K, Atrium #307 2/2 $1.2M.
2 price changes: Sundial #G105 1/1 now $319K, Shorewood #3 3/3 now $1.625M.
2 new sales: Sanibel Arms West #L3 2/2 listed for $495K, White Pelican #112 2/2 listed for $799K.
3 closed sales: Sundial #G205 1/1 $287.5K, Cottage Colony West #103 1/1 $515K, Sedgemoor #101 3/3.5 $2M.

HOMES
No new listings.
5 price changes: 1566 Sand Castle Rd 3/3 now $699K, 5750 Pine Tree Dr 2/2 now $699K, 4279 Gulf Pines Dr 4/3 now $730K, 728 Windlass Way 3/2 now $799K, 2520 Harbour Ln 3/2.5 now $1.295M.
2 new sales: 1281 Par View Dr 3/2 listed for $685K, 1234 Middle Gulf Dr 3/2 listed for $795K.
3 closed sales: 2079 Wild Lime Dr 3/2 $350K, 1667 Sabal Sands Rd 3/3 $430K, 1251 Anhinga Ln 3/3 $1.75M.

LOTS
1 new listing: 247 Robinwood Cir $355K.
2 price changes: 5830 SanCap Rd now $380,555; 5749 SanCap Rd now $399,999.
2 new sales: 223 Robinwood Cir listed for $229K, 2512 Wulfert Rd listed for $259.5K.
No closed sales.

Captiva
CONDOS
No new listings or price changes.
2 new sales: Marina Villas #710 2/2 listed for $559K, Lands End Village #1631 2/2 listed for $1.35M.
No closed sales.

HOMES
No new listings.
1 price change: 11516 Andy Rosse Ln 6/6 now $1.799M.
1 new sale: 15631 Captiva Dr 5/4.5 listed for $1.995M.
No closed sales.

LOTS
No new listings.
1 price change: 15164 Wiles Dr now $995K.
No new or closed sales.

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.

Happy weekend to all, until next Friday, when the news will again be posted from Sanibel Island… Susan

& The SanibelSusan Team (Dave, Lisa, & Elise – who have been covering the fort for a few days & doing a terrific job)