It has been another busy real estate week on Sanibel and Captiva Islands. Several SanibelSusan Realty listings had excellent showings and we also had several good meetings with owners considering selling. One new listing is effective this week and another will be posted in a few days, and another a few days after that. I was out showing to several parties, several times, while Teammates David and Lisa also were showing yesterday. It’s great to see almost as much action as the November dolphins jumping in the above photo. (Note the Mama with baby on the right.)
Sanibel & Captiva Islands Association of Realtors®
Yesterday’s Realtor® Caravan Meeting was not as well attended as last week, but the National Association of Realtors annual convention, being held in Orlando this year, may have something to do with that.
This wek the Sanibel/Captiva Caravan of new listings was for West End properties. Next week, when it rotates to East End, we will have two new listings open (from 9 a.m. until noon).
The activity posted since last Friday in the Sanibel & Captiva Multiple Listing Service follows a couple of news items below.
Interest Rates Stay Put, But Door Open For December Hike
Yesterday, FloridaRealtors® on-line posted the following:
“The Federal Reserve held its key interest rate steady Wednesday and left the door open to a December rate hike amid an improving economy. In a statement after a two-day meeting, the Fed said it decided to keep its federal funds rate at a historically low 0.4%.
“The Fed said “the case for a rate increase strengthened,” but policymakers decided, “for the time being, to wait for some further evidence of continued progress toward its objectives.” That largely mirrored the September statement, except the Fed added that only “some” advances are needed, suggesting a rate hike may be at hand. The statement added that “inflation has increased somewhat since earlier this year” and removed its previous assertion that “inflation is expected to remain low in the near term.”
“The Fed’s preferred measure of annual inflation, which excludes volatile food and energy costs, is still below its 2% annual target, but it has edged up steadily this year, reaching 1.7% recently. That could pave the way for a rate hike as soon as December.
“Stocks, already on pace for a seventh day of losses, fell further after the statement but shortly began staging a recovery. Some economists said the Fed was unlikely to send an explicit signal of a December rate increase similar to a reference in October 2015 to a possible hike at the “next meeting.”
With markets already pricing in an increase anyway, Fed officials would prefer not to close off their options, economists said. “Absent substantial shocks, they’re set on December,” says UBS economist Drew Matus.
“Among potential shocks are a contested presidential election next week or a victory by Republican Donald Trump that roils markets, economist Paul Ashworth of Capital Economics says.
“After Wednesday’s statement was released, fed fund futures reckoned there was a 72% chance the Fed will lift its benchmark rate at a Dec. 13-14 meeting, up from 68% a day earlier.
“It was unlikely the Fed would act just days before the election, potentially disrupting markets and coloring perceptions of the economy and presidential candidates Trump and Hillary Clinton.
“The Fed has stood pat since raising its federal funds rate in December for the first time in nine years, citing factors such as China’s economic slowdown, the United Kingdom’s Brexit vote, volatile markets and a spring slump in U.S. job growth.” Copyright © 2016, USATODAY.com, USA TODAY, Paul Davidson
Upcoming Island Events
Tomorrow – Saturday – Esperanza Woodring Memorial Cast Net Rodeo – beginning at 8:30 a.m. at The Bait Box, 1041 Periwinkle Way.
Nov 6 – Sunday – Sanibel Blues & Jazz Festival – 1 to 7 p.m. at Bailey’s Center.
Nov 11 – Friday – Veterans Day Ceremony – beginning at 11:45 on the grounds of Sanibel City Hall.
Nov 13 – Sunday – CROW’s 35th “Taste of the Islands” 12 to 5 p.m. at Sanibel Community Park (across the street from SanibelSusan Realty). SanibelSusan will be working with the front door open (to attract some business & hear the music).
Sanibel & Captiva Islands Multiple Listing Service Activity October 28-November 4, 2016
Sanibel
CONDOS
7 new listings: Blind Pass #A205 2/2 $449K, Sundial East #P201 2/2 $789K, Sandpiper Beach #504 2/2 $789K, Gulf Beach #102 2/2 $799K, (our listing, photos below), Surfside 12 #A4 3/2 $869K, Nutmeg Village #100 2/2 $1.195M, Compass Point #192 2/2 $1.295M.
1 price change: Sundial West #F103 2/2 now $459.5K.
2 new sales: Sanibel Arms West #B8 2/2 listed at $529.9K, Villa Sanibel #2G 2/2 listed at $589K.
4 closed sales: Tennisplace #D21 1/1 $212.85K, Casa Blanca #8 1/1 $255K, Sundial West #F105 1/1 $385K, Mariner Pointe #813 2/2 $437K.
HOMES
6 new listings: 1411 Sandpiper Cir 2/2 half-duplex $439K, 743 Elinor Way 3/2 $695K, 998 Fish Crow Rd 3/2 $725K, 5306 Umbrella Pool Rd 4/4 $895K, 941 Pecten Ct 3/2 $975K, 6494 Sanibel-Captiva Rd 3/2 $2.495M.
7 price changes: 1585 Serenity Ln 3/3 now $574.9K, 4215 Old Banyan Way 3/3 now $699K, 1809 Bowmans Beach Rd 3/2 now $799.9K, 5757 Pine Tree Dr 3/2.5 now $850K, 660 Oliva St 3/3 now $899K, 1724 Bunting Ln 3/4 now $995K, 6129 Starling Way 3/2.5 now $1.39M.
1 new sale: 1150 Schooner Pl 2/2 listed at $599K.
2 closed listings: 9292 Belding Dr 3/2.5 $399K, 988 Beach Rd 3/3 $850K.
LOTS
1 new listing: 602 Boulder Dr $459K.
1 price change: 9426 Sage Ct now $269K.
No new sales.
1 closed sale: 1242 Anhinga Ln $495K.
Captiva
CONDOS
2 new listings: Bayside Villas #5136 1/2 $315K, Beach Homes #18 4/3 $3.495M.
No price changes or new sales.
2 closed sales: Bayside Villas #4102 1/2 $277.5K, Bayside Villas #5240 1/2 $320K.
HOMES
1 new listing: 11523 Andy Rosse Ln 5/5/5 $2.599M.
2 price changes: 14980 Binder Dr 4/3 now $1,377,991; 14860 Mango Ct 5/4 now $2,343,981.
1 new sale: 11537 Laika Ln 4/3 listed at $1.575M.
No closed sales.
LOTS
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, when hopefully we have more real estate action to report, here are a few more dolphins showing off!
Happy weekend! Susan Andrews, aka SanibelSusan
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