It is another sunny Friday afternoon on Sanibel Island. The weathermen forecast a high today of only the mid-60’s so some of us are wearing turtle necks, longs sleeves, and scarves with their flip flops. Ha, they were wrong again. It’s a bright 70 degrees mid-afternoon with blue skies and temperatures rising! January can be funny here though, we could still see a few days of island winter.
Below are a couple of real estate news items followed by the action posted in the Sanibel & Captiva Islands Multiple Listing Service this week. Several of our listings were shown and David/Elise hosted our Realtor Caravan Open House yesterday from 9 a.m. until noon in The Sanctuary. Since they were getting good walk-in traffic, Dave continued the Open House until 4 p.m. and got some good walk-in activity then too.
Though the roadway and bike paths were busy again this week, just 11 new sales were announced on Sanibel, one on Captiva (a big one).
Our friends in the accommodations business describe this week as setting records for reservations. That probably means that February and March will be standing room only on the islands. We can expect more sales then.
2015 Sanibel & Captiva Association of Realtors Installation & Awards Banquet
Last Saturday night, this annual event was a success and well attended with the banquet room full and the sunset spectacular from Sundial Beach Resort’s new open deck. It’s great to see the resort bounce back following its recent renovations.
This year the theme was “Carnival”, so attendees were asked to dress in white.
As the evening’s emcee again, it was fun to present the awards to this year’s winners:
Administrative Support award to Jessica Elliott with VIP, Rookie of the Year to Chris Johnson with Pfeifer Realty, Affiliate of the Year to Nanci Berlin with Barrier Island Title, Community Service award to Shane Spring with VIP, and Realtor of the Year to Dave Schuldenfrei also with VIP. Both Shane and David worked hard in the association’s continuing goals to help to improve water quality and keep flood insurance affordable.
David, also 2014 President, gave a special award to Chris Heidrick with Heidrick & Company Insurance. Chris, also a Sanibel Planning Commissioner, is Chairman of the National Flood Independent Insurance Agents & Brokers of America, and he sits on the Flood Insurance Producers National Committee which is an advisory committee to FEMA/National Flood Insurance Program.
Congratulations to all on their awards!
2015 Florida Realtors Mid-Year Business Meetings
“The real estate market plays a vital role in Florida’s economy, and figuring out what lies ahead in 2015 is key to policymakers, residents and Realtors®. Several respected economists will share their insights on the state’s business climate and economy at Florida Realtors®2015 Economic Summit on Jan. 21, 2015, from 1:30 p.m. to 5 p.m….The summit kicks off Florida Realtors’ Mid-Winter Business Meetings, which take place Jan. 21-25, 2015.
“”We anticipate the positive trends that developed last year to continue into 2015,” says Florida Realtors Chief Economist Dr. John Tuccillo. “Florida’s economy is producing significant numbers of jobs, in-migration is strong and the housing market will benefit. Florida Realtors expects home sales to increase by about 10% in 2015, and values to move upward at the historical average rate of 4.5-5%. Because of inventory shortages at the lower price levels of the market, measured median and average prices will rise by 10-15% – about the same as their performance in 2014.
“”Both the economy and real estate will benefit from lower gas prices, which are expected to continue through the first half of the year,” he adds. “This will give consumers more spendable income, but will also allow them to consider buying homes farther from metropolitan centers, where home prices are lower. Florida’s economy also will benefit from both the expansion of the Panama Canal, which will bring new trade and employment opportunities to Florida, and from numerous transportation projects that are now underway or planned around the state.”
“Summit speakers include Jesse Panuccio, executive director of the Florida Department of Economic Opportunity; Ted Jones, chief economist and senior vice president, Stewart Title Guaranty Company; and Dr. John Tuccillo, Florida Realtors chief economist. Attendees also will hear a discussion of regional development and economic trends from a panel of civic and business leaders….”
Loan Demand Posts Biggest Leap in 6 Years
Although most Sanibel & Captiva Island sales are cash transactions, it was encouraging to read about the uptick in the mortgage activity this week. The below article was posted Wednesday on “Daily Real Estate News” and sourced to CNBC. Whenever there is good news like this, it has positive impact throughout the market.
“Plunging mortgage rates sent mortgage applications skyrocketing last week, the Mortgage Bankers Association reports in its weekly survey released Wednesday.
“Mortgage application volume reflecting demand for home purchases and refinances soared 49.1% in the week ending January 9, compared to the previous week, the MBA reports. Most of that jump was attributed to a 66% seasonally adjusted increase in applications to refinance. Refinance applications are now at the highest level since July 2013.
“Applications for home purchases, viewed as a gauge of future home-buying activity, rose to a seasonally adjusted 24% from the previous week. Applications for home purchases are now 2% higher than they were a year ago. The MBA said a new 3 percent down payment option for qualified buyers at Fannie Mae contributed to the gain. “Purchase application volume was at its highest level since September 2013 … and notably increased across most loan size categories, particularly for the conforming, middle of the market loan segments that had been weak for much of the past year,” says Michael Fratantoni, the MBA’s chief economist.
“The 30-year fixed-rate mortgage dropped to a 3.89% average last week, its lowest level since May 2013. “In addition to the drop in rates, and news of improvement in the job market, there was additional positive news for prospective home buyers with evidence that credit availability has increased somewhat, and with the FHA’s announcement of a decrease in their mortgage insurance premiums,” Fratantoni said.”
“What an amazing beginning to 2015! We are selling Equity Memberships like crazy. There is a Waiting List for the Social Memberships, but an Application will secure a spot on the Waiting List. The number of inquiries has doubled from last year.”
Sheryl plays an important role in getting our prospective Sanctuary clients on the golf course, tennis court, or dinner, so it is always good news when she shares what is happening in her office.
Sanctuary membership categories are: Equity Membership – $110,000; Introductory Membership – $10,000; Temporary Membership – $5,000 for 1 month or $7,000 for 2 months; Social Membership: $15,000.
Below is an aerial photos of our listing at 5743 Baltusrol Court in The Sanctuary. The lot next door is available too. Click the tabs above to access a full-page of information about each of our listings – streaming videos too!
Sanibel & Captiva Multiple Listing Service Activity January 9-16
5 new listings: Captains Walk #E5 2/2 $299K, Sanibel Arms #E8 2/2 $509K, Blind Pass #G105 3/3 $769K, 630 Periwinkle Way 4/3 $999.9K, Signal Inn #18 3/2 $1.089M.
1 price change: White Pelican #123 2/2 now $799.9K.
2 new sales: Lighthouse Point #215 3/2 listed for $575K, Sandpiper Beach #202 2/2 listed for $624.9K.
2 closed sales: Sundial #D307 1/1 $225K, Sandpebble #E 2/2 $410K.
1 new listing: 1521 Wilton Ln 3/2 $559K.
5 price changes: 1380 Jamaica Dr 3/2 now $599.9K; 2984 Island Inn Rd 3/2 now $599,999; 9012 Mockingbird Dr 3/2 now $689K; 600 N Yachtsman Dr 3/2.5 now $1.2945M; 1204 Isabel Dr 3/3.5 now $3.995M.
8 new sales: 320 Palm Lake Dr 2/2 listed for $424K, 3001 Singing Wind Dr 3/2 listed for $449K (short sale), 1717 Windward Way 3/2 listed for $649K, 1710 Middle Gulf Dr 3/2 listed for $699K, 251 Daniel Dr 3/2 listed for $809K, 749 Pyrula Ave 3/3 listed for $1.225M, 836 Sand Dollar Dr 3/2/2 listed for $1.295M, 2400 Los Colony Rd 3/3 listed for $1.495M.
2 closed sales: 660 Durion Ct 2/2 $540K, 1674 Sabal Palm Dr 3/3 $790K.
1 new listing: 1301 Par View Dr $249.555.
3 price changes: 2372 Wulfert Rd now $209K, 6486 Pine Ave now $359.9K, 3723 West Gulf Dr now $3.089M.
1 new sale: 2562 Coconut Dr listed for $349K.
1 closed sale: 218 Violet Dr $325K.
3 new listings: Tennis Villas #3232 2/2 $499K, Bayside Villas #5324 3/3 $595K, Lands End Village #1654 3/3 1.685M.
No price changes, new sales or closed sales.
No new listings or price changes.
1 new sale: 16660 Captiva Dr 5/5.5 listed for $14.85M.
No 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.
Until next week, here is another favorite Sanibel beach photo.
Many visitors here this winter are saying the beach looks better than ever!
The SanibelSusan Team agrees!