The whole SanibelSusan Team is back to work – as the Lee County kiddos are all back to school. That sure was a quick summer!
This week, island real estate activity continues to be sporadic, though we received more calls about new listings for “season”, likely the result of our recent newsletter mailing. Proposals and presentations for those usually continue through the end of the year.
One of our condo listings went under contract last weekend (we like doing both sides of a transaction) and a couple of other listings had offers. Negotiations still are underway on those, with fingers crossed.
A few other listings had showings with good feedback, so though it is that time often referred to as the “dog days of summer”, we are pleased with this week’s happenings.
No Sanibel/Captiva Association of Realtors® Caravan meeting yesterday, but a membership breakfast is next Thursday, so I hope to have more news to announce by then. Meanwhile after a few news items below is the action posted in the Sanibel/Captiva Multiple Listing Service since last Friday.
Best States for Business
Every year “Chief Executive Magazine” rates the best and worst states for doing business in the U.S. The good news is that Florida again is #2 this year. It held the same position last year. While Texas continues its reign as #1. For more info on where the other states rank, go to http://chiefexecutive.net/2016-best-and-worst-states-for-business-full-list/
As the article says, “Texas and Florida top the list, as they have every year for the past 12 years that we have conducted this survey. Despite having been hit hard by the shale energy bust, Texas is still held in high esteem by CEOs for its favorable economic reforms. But each year, Florida steadily edges up in the qualitative measures. The Sunshine State added 1 million private-sector jobs over the last five years, cut taxes 50 times and got rid of 4,200 burdensome regulations. In 2014, it surpassed New York as the third-biggest state for companies to flourish.” Hooray for The Sunshine State!
Renovation Tips to Attract Buyers
An article posted yesterday on line at the National Association of Realtors® “Daily Real Estate News” was titled “Renovation Tips to Attract Millenial Buyers”. However, I have heard plenty of buyers – various ages – interested in the same features. Here’s what the article says:
“Generation Y makes up the largest pool of potential buyers, and builders and current home owners alike are keeping their needs in mind when building and renovating homes.
“The millennial generation is overwhelmed with options and information online, which is also reflected in their home search process. They are not looking to settle for a home that is good enough, they want to find one that is ready to move in and enjoy right away.
“”They’re picky,” says Peggy Yee, a supervising broker at Frankly Realtors in Vienna, Va. told Consumer Reports recently. “Millennials have specific needs, and if your home doesn’t meet them, they’re going to move on to the next house.”
“When your clients are looking to tackle a renovation project, Consumer Reports suggests they should focus on improving these four areas of the home that will make it an easier sell and appeal to younger buyers: (SanibelSusan says these appeal to older buyers too!)
“Create a Laundry Room – Young buyers want to separate their laundry from their main living space. Having a separate laundry room is so important to millennials, in a recent survey 55% of them said they wouldn’t even consider a new home without one.
“Get Smart – Having energy efficient, up-to-date appliances and including smart home technology in a home is a big value-add for young buyers. As NAHB reports, over two-thirds of millennials say smart home technology is a good investment, and they are willing to pay 3 percent more for these upgrades. But as Consumer Reports cautions, “keep in mind that high-tech features can quickly become poor investments because technologies evolve quickly.”
“Make Working from Home Easier – Many millennials have jobs with flexible schedules and work from home policies, so owners should think of ways they can re-imagine a space to make telecommuting a reality. As Consumer Reports points out, “It’s also relatively inexpensive to convert a room into an office; a basic desk, office chair, and door should do the trick.”
“Focus on Outdoor Spaces – Many young buyers are looking for a home that’s move-in ready and comes already equipped with thoughtful landscaping and a outdoor space for entertaining. This type of space doesn’t have to be fancy either. Just adding a patio or deck that has room for seating and a grill should do the trick to attract these buyers.”
Tourism Numbers Decline from Last Year
“Santiva Today” this morning posted an article based on info from “The Beaches of Fort Myers and Sanibel Tourist Development Council” (TDC), it says in part:
“The Tourism Development Council got together in Fort Myers on Thursday and that was the occasion to receive the latest tourism numbers for Lee County. One would expect the numbers to be down in view of the bad water and bad publicity resulting from Lake Okeechobee discharges, and they are.
“The TDC’s spring statistics show a decrease in average occupancy rate, the average daily rate charged for a room and revenue available per room for hotels, motels, resorts and bed and breakfasts. Rentals of condominiums, cottages and vacation homes were also down as was occupancy in RV parks and campgrounds.
“As the TDC notes, the declines are modest, but they are declines. The hotel-motel-resort-B&B occupancy rate in the spring fell from 70.4% in 2015 to 69.5% with the average daily rate dropping from $149.43 to $147.61. The average daily rate charged, or RevPAR, went from $105.16 last year to $102.65 this year.
Although the average daily rate for condos and vacation homes jumped from $180.73 to $186.08, occupancy in these units fell nearly 4% from 73.3% in spring 2015 to 69.4 this spring. The RevPar fell more than $3 from $132.47 in 2015 to $129.19 in 2016….
“The TDC said 77% of this spring’s tourists came from within the United States. That’s down from 83% last year. Germany made up most of the difference by providing 11% of the tourists this year compared to 5% last year. Great Britain sent us 5% of our tourists and Canada 4%, numbers that are basically in line with 2015.
“Seven percent of the American tourists came from Indianapolis with Boston second at 6%. Chicago and New York gave us 5% each. At 3% each were Detroit, Cleveland, Tampa-St. Petersburg, Denver, Atlanta, Cincinnati and St. Louis.”
Sanibel Community House on Track to ReOpen Early December
Posted yesterday by “The Santiva Chronicle” was an update on the renovations underway at The Community House. Watching the work progress is fun for us since our office is so close. Here some tidbits from the article:
“Teresa Riska-Hall understands the value of Sanibel’s Community House from first-hand experience. “My husband and I held our wedding reception there more than 27 years ago,” she said. “It is near and dear to our hearts.”
“Riska-Hall, who has served as Executive Director of the Sanibel Community Association since 2010, is in charge of the Community House’s massive restoration project, and she reports that all is proceeding according to plan, with the reopening slated for early December.
““I have been working on the project for several years,” she says. “Watching it come to fruition at long last is truly exciting.” Part of Riska-Hall’s task is to preserve the Association’s historic outbuildings. These structures include the old Shell Fair Galley, the Shell Shed and the Live Shell Exhibit.
““We want to keep our heritage alive, even as we make huge changes in the House’s overall design,” Riska-Hall said. According to Riska-Hall, the Live Shell Exhibit outbuilding has been crucial to the Shell Fair’s function. “Sanibel School students spend a year learning about sea-life, after which they serve as teachers during the Shell Fair,” Riska-Hall noted. “These kids demonstrate their expertise with live specimens in the Live Shell’s Exhibit’s touch tank. We will move this important structure behind the main building for continued use.”
“Riska-Hall reports that the contractors have been confronted with plenty of surprises during the renovation. “One big surprise was finding old library books in the wall of the main building. They date back to the original Sanibel Library, which first opened its doors at the Community House,” she said.
“Another surprise was finding a cistern beneath the flooring. “That was quite a shocker,” she said. “The old floor came off in pieces, but it is still precious to us, so we will repurpose the wood. It won’t be discarded.”
“Riska-Hall acknowledged that installing the new roof over the auditorium required an unanticipated budget increase of $10,000, “but it is well worth the additional expense. The updated roof, plus the new wood flooring and acoustic panels, will improve the auditorium’s sound environment.”
“According to Riska-Hall, money had been budgeted for foundation work and flooring, for moving the historic buildings, and for upgrading the electrical system. “More is required, and we continue to seek funds for these added expenditures,” she said, “but we are close to our funding target.”
“New amenities greeting patrons when the project is complete include a sizable under-cover patio to provide drop-off capability, larger restroom facilities and wider east and west auditorium doors. “We will have easy entrance on all four sides of the structure,” she said, “and our kitchen will double in size!”
“The project also includes the acquisition of 1,250 new native plants, to meet the city’s landscaping standards. “We were able to save our coonties, our tabebuiah trees and our palms—virtually all of our existing native plants,” Riska-Hall said. “We are moving them to new sites on the property.”
“Given all of the unanticipated challenges, “that we are on schedule is amazing! The structure will be roofed-in by the end of next week. Then the project will really speed up,” she said. “It’s a challenging time, but everything is working out. We are extremely happy about that.”
“Riska-Hall reports that the Community House’s calendar for the coming season is filling up fast. “Folks should call now for reservations,” she says. “Do not delay!” To schedule activities at the Community House, contact Riska-Hall at 239 472 2155, or send an email to Teresa@sanibelcommunityhouse.net.”
Update on Renovations at The Sanctuary Golf Club
The Sanctuary Golf Club’s Facebook page recently posted some photos of their ongoing renovations.
The refurbishment of The Clubhouse is well underway. The new décor is in a beachy-chic palette with all new carpeting, paint, and furniture.
The club has remained open during these updates with the new-look at the Clubhouse expected to be completed in November.
Demolition of the old and construction of the new nearby Fitness & Wellness Center began in May. Weather permitting, completion there is expected in March 2017.
Sanibel & Captiva Islands Multiple Listing Service Activity August 5-12, 2016
1 new listing: Pointe Santo #D6 2/2 $735K.
3 price changes: Loggerhead Cay #313 2/2 now $539K, Lighthouse Point #129 3/2 now $649K (our listing), Sundial West #A208 2/2 now $809.9K.
2 new sales: Sandpebble #2B 2/2 listed at $424.9K (our listing & sale), Loggerhead Cay #331 2/2 listed at $499K.
1 closed sale: Sanddollar #C101 2/2 $837.5K.
1 new listing: 9240 Belding Dr 3/2.5 $625K.
2 price changes: 9292 Belding Dr 3/2.5 now $439K, 1306 Seaspray Ln 3/4 now $3.75M.
1 new sales: 9468 Peaceful Dr 3/2 listed at $759K.
2 closed sales: 726 Cardium St 3/3 $745K, 739 Pyrula Ave 3/3 $1.05M, 2311 Starfish Ln 4/3 $1.15M.
No new listings.
1 price change: 1304 Eagle Run Dr now $299K.
No new or closed sales.
1 new listing: Ventura Captiva #2A 3/3 $975K.
1 price change: Tennis Villas #3125 1/1 now $254K.
No new or closed sales.
No new listings or price changes.
3 new sales: 35 Sea Hibiscus Ct 3/2 listed at $950K, 11523 Wightman Ln 4/4 listed at $1.949M, 16177 Captiva Dr 7/7 listed at $5.95M.
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. Data maintained by the association or its MLS may not reflect all real estate activity in the market. The information provided represents general real estate activity in the community and does not imply that SanibelSusan Realty Associates is participating or participated in these transactions.)
Until next Friday, here’s hoping your dog days of summer are as great as those on the islands!
(That’s my grand-dog Bella after a dip in my pool this week! She loves it!)
Susan Andrews aka SanibelSusan