Island Traffic & Real Estate Activity
Though the traffic on Sanibel and Captiva Islands noticeably picked up over the last few days (mostly with service/contractor vehicles and winter residents coming back early), there do not seem to be buyers here this week. SanibelSusan had the only sale announced at our Association of REALTORS® Caravan Meeting yesterday. See the report at the bottom of today’s blog for all of the activity posted in the island Multiple Listing Service this week.
I continue to visit our listings to get new photos as some of them get pre-season improvements. I visited Island Beach Club this afternoon where the work is progressing albeit slowly on the window replacement work.
While his morning, in-between tenants and cleaners, I also got into our listing at Loggerhead Cay in time to snap a few photos of the new carpet and living room sofa/love seat. This condo earns excellent income, if you are an investor looking for a condo where the numbers make sense. It is unit #353, 3rd floor looking down the courtyard to the gulf. Priced at $499,000, it also grosses nearly $40K/year in rental income!
After a teaser day of low humidity and cooler temperatures, weather has been back to bright sunny summer temperatures for most of the week.
Opening day of the Sanibel Farmers Market last Sunday, though a whole month earlier than past years, was packed. Almost all of the previous vendors are back as well as some new ones. I checked it out late morning and found it to be as busy as it usually is in high season. Some new finds for me were with the smoothie makers and the exotic fruit vendor (samples included dragon fruit & lechees.)
With “season” just around the corner, this week I received lots of organization emails and calendars touting events scheduled in the upcoming months. So many, in fact, that if you know when you will be enjoying the islands, you may want to plan ahead and check out the link above to “Upcoming Events“. Some events have limited seating and require advance tickets or reservations. I will continue to post new events as we hear about them. It’s gonna be a fun busy winter!
News Corp Bets on REALTORS®
There are varying opinions on the below article. However, at a group meeting this afternoon with some of the brokers, leaders, and movers/shakers of the Sanibel/Captiva real estate community, there definitely was a consensus that the real estate consumer (buyer or seller) is best served by a REALTOR®.
A special guest who drove across the state to chat with us is someone also passionate about the REALTOR® remaining at the center of the transaction. Big thank you to our friend and colleague from Miami, Moe Vessi, for sharing his thoughts with us. Moe was 2002 President of Florida REALTORS® and 2012 President of the National Association of REALTORS®, and is a working REALTOR® like the rest of us.
Particularly on these unique and small islands where our MLS is not syndicated, we often hear about third party web sites that offer incomplete or inaccurate information – all the more reason to rely on a REALTOR® and realtor.com® where cooperative sales occur. Here is the article about the future of realtor.com, posted Wednesday on REALTOR®Mag.
“The global media and information services company that owns such venerated titles as The Wall Street Journal and Barron’s announced Monday its intent to purchase Move Inc., operator of realtor.com®.
The company is News Corp, a top-in-class media and publishing business with experience in real estate through its newspapers and its majority ownership of the REA Group Ltd, the leading Australian residential property website, which also has a presence in Europe and Asia. With Monday’s announcement, News Corp made clear its intent to plant a major stake in the U.S. online real estate space. And the company is putting its considerable weight behind the REALTOR® brand.
““This partnership will help shape the future of real estate,” said National Association of REALTORS® President Steve Brown. “News Corp’s ability to reach and engage consumers, combined with realtor.com®’s quality content and the real insights REALTORS® provide will transform the current landscape.”
“In 2013, News Corporation separated into two distinct, publicly traded companies—News Corp and 21st Century Fox. Rupert Murdoch is executive chairman of News Corp, a multinational news and information company headquartered in New York. The company reported more than $8.5 billion in revenue in the fiscal year ending June 30, 2014. “We intend to use our media platforms and compelling content to turbo-charge traffic growth and create the most successful real estate website in the U.S.,” said Robert Thomson, Chief Executive of News Corp. “We are building on our existing real estate expertise and expect to leverage the potential of Move and its valuable connections with REALTORS® and consumers around the country.” (See the presentation News Corp shared in an investor call this morning.)
“Move, Inc. draws nearly 35 million visitors each month to its network of real estate sites for consumers and real estate professionals. The company’s flagship site is realtor.com®. “We provide people with the information, tools and professional expertise they need to make the best and most informed real estate decisions, and we work to uphold the indispensable role of the professional in the real estate experience,” said Steve Berkowitz, chief executive officer of Move. “News Corp shares our vision, which is one of the many reasons this combination is such good news for our customers, consumers and the industry as a whole.”
“The realtor.com® domain is owned by the National Association of REALTORS®, and the site is operated by Move through an agreement between the REALTORS® Information Network, a NAR subsidiary, and RealSelect, a Move subsidiary. NAR leadership and the RIN board, meeting over the weekend, voted to approve the acquisition, which is subject to the satisfaction of customary closing conditions, including regulatory approvals. News Corp and Move are both traded on the NASDAQ. On Monday, September 29, Move’s stock closed at $15.29 and News Corp closed at $16.80.
“NAR has posted a FAQ at realtor.org and will continue to communicate with its members as information becomes available. But one thing is certain, according to NAR CEO Dale Stinton. This change in ownership will only strengthen realtor.com®’s core mission: to serve consumers with the best, most accurate real estate data while keeping REALTORS® central to the real estate transaction. “Throughout the 20th century, NAR worked to ensure that REALTORS® were indispensable to consumers and the real estate transaction,” Stinton said. “This partnership is yet another 21st century example of this effort. NAR will continue to seek opportunities such as this for REALTORS® to flourish in today’s marketplace by remaining first and foremost in the consumer’s mind.””
Sanibel & Captiva Multiple Listing Service Activity October 3-10
2 new listings: Colonnades #1 1/1 $195K, Compass Point #101 3/2 $1.169M.
3 price changes: Seashells #33 2/2 now $329K (short sale), Lighthouse Point #323 3/2 now $899K, Clam Shell #C 2/2 now $1.195M.
2 closed sales: Sundial #D207 1/1 $230K, Tarpon Beach #203 2/2 $659K.
2 new listings: 3251 Twin Lakes Ln 3/2 $629K, 1130 Seagrape Ln 4/3 $827K.
3 price changes: 490 Christine Rd 2/2 now $569,555; 5753 Pine Tree Dr 3/4 now $749K; 749 Pyrula Ave 3/3 now $1.225M.
5 new sales: 320 Palm Lake Dr 2/2 listed for $439K, 1221 Par View Dr 3/2 listed for $758K, 1329 Eagle Run Dr 3/2.5 listed for $849K, 5427 Osprey Ct 3/3.5 listed for $1.2472M, 1266 Isabel Dr 3/3 listed for $1.795M.
No closed sales.
1 new listing: 1332 Eagle Run Dr $255,555.
1 price change: 6486 Pine Ave now $444.9K (foreclosure).
No new sales.
1 closed sale: 1504 Angel Dr $679K.
No new listings.
1 price change: Land’s End Village #1660 3/3 now $1.535M.
No new or closed sales.
1 new listing: 16897 Captiva Dr 5/5.5 $3.49M.
1 price change: 15891 Captiva Dr now $2/949M.
No new or closed sales.
1 new listing: 16915 Captiva Dr $1.39M.
No price changes, 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.
Until next Friday, TGIF, SanibelSusan