SanibelSusan is reporting again that pre-Christmas and year-end events continue to keep Sanibel and Captiva Island real estate showings and sales activity to a minimum, but I was happy to make a “new sale” announcement at our local Association of Realtors® monthly breakfast meeting yesterday.
Below are more details from the meeting, a few news items, and a report of the action posted since last Friday in the Sanibel & Captiva Multiple Listing Service.
Beginning Saturday, the island is expected to fill up with holiday visitors. Though, heaviest check-ins are expected, the following week, on Christmas Eve. With the chilly weather in so much of the nation, I am sure that the islands are looking mighty fine to many right now. It’s a sunny 80 degrees here as I post this at 3:30 p.m. with weather expected to be the same right through Christmas. No need for ugly Christmas sweaters here!
Sanibel & Captiva Islands Association of Realtors®
2017 Professional Standards Committee – Many know that Realtors® subscribe to a Code of Ethics. We also self-govern, handling complaints from the public or colleagues regarding matters of ethics or commission arbitrations. To serve on the committees that handle these issues (thankfully few complaints are filed on Sanibel & Captiva), annual mandatory training is required. Since I will be heading the Sanibel/Captiva Association’s Ombudsman Committee again in next, I was one of 14 island Realtors® who this week completed their training for 2017. Here we are with our Florida Realtors® instructor, Anne Cockayne.
December Monthly Membership Meeting – Dustyn Corace, 2017 President-elect, presided over the monthly meeting yesterday at the Sanibel & Captiva Islands Association of Realtors®. Guest speakers were Cara Pennetti, Owner Services Manager, and Phillip Starling, General Manager, from Sundial Beach Resort and Spa.
Looking to increase the number of Sundial units enrolled in their on-site rental program, Cara and Phil reminded Realtors® that the resort’s new 3-year rental agreement, now going into its second year, gives owners 55% of the income the 1st year, followed by 57% and 60% in the following years. With this agreement, owners may reserve up to 28 days for their own use between February 15 and April 30, otherwise owner time is unlimited.
Phil also spoke of the new pickleball courts being constructed at the resort (more on that below). He also said that plans and permits are in the works for a new food/beverage offering that is expected to be open in the lobby area beginning February 1. Sounded like it could be take-out, but it’s not ready to be officially announced yet – more on that in the days to come.
Before the Caravan portion of the meeting, 2017 Committee Chairs gave brief presentations on their plans for the upcoming year. Since the current chair was away, as the incoming Chair for Communications & Public Relations, I reported on the three ads that will be in upcoming publications. Developed from a member survey conducted earlier this year and titled “Realtors® Make a Difference”, these marketing pieces describe how island Realtors® help, serve, and take pride in our community.
I also reported that monies from the reserve fund from our meeting 50/50 drawings are being donated to the following local charities: $500 CHR (Community Housing & Resources), $500 CROW (Care & Rehabilitation of Wildlife), $500 F.I.S.H. (Friends In Service Here), $500 Friends Who Care, $500 San-Cap Cares (Golisano Children’s Hospital), and $1,000 The Community House. Formal check presentations will be made later this month.
Earlier this year from our RPAC contributions, a $4,500 grant went to SCCF (Sanibel-Captiva Conservation Foundation) for educational boat trips. The Association is proud of its partnerships with, and support from, many local organizations.
Sundial Beach Resort & Spa Has Pickleball Coming
The “Santiva-Chronicle” reported Wednesday that “Sundial Beach Resort & Spa has announced the addition of 12 regulation pickleball courts to its lineup of resort amenities and public offerings.
“The Plexicushion system courts will provide the area with state-of-the-art tournament-grade facilities in a beautiful, lake-front setting. Construction is underway with an anticipated early spring opening.
“Pickleball was invented in 1965 as the result of family boredom and ingenuity and has enjoyed a rapidly growing burst of popularity. A combination of tennis, badminton and table tennis, it now claims the title of the “fastest growing sport in North America”. Suitable for all ages and skill levels, the sport is a game of shot placement rather than strength and may be played at a leisurely pace or highly competitive tournament level.
““We’re looking forward to bringing a quality, state-of-the-art pickleball facility to Southwest Florida” said Phillip Starling, Sundial’s general manager. “Not only will Sundial be the first area resort to offer onsite, stand-alone courts to guests, we’ll also be providing a resource for local and tournament play in our region.”
“Erica Cossairt, Director of Tennis, will oversee Sundial’s pickleball program and league play. Lessons, round robins, and clinics for all ages will be available to both resort guests, residents and visitors. Introductory pickleball memberships will be offered to the public at $250 annually or a $5 guest fee per person per hour.
“Guests of the resort will enjoy complimentary access as part of Sundial’s activity package. In addition, the resort plans to host USA Pickleball Association Tournament play including competition for all levels and ages with its inaugural tournament planned for later in the year. For information on memberships and pickleball please contact firstname.lastname@example.org or phone 239-395-6037.”
Update on Sanibel Community House
Construction is nearing completion at the $3M reconstruction, restoration, renovation, expansion project at The Community House. It all began in May. A temporary certificate of occupancy is expected before the end of the month. If it is received, equipment could starting moving in in early January. Events are already scheduled in 2017, including the 80th Annual Sanibel Shell Festival in March. Not bad for a building that is a 90-year-old structure. More info at www.SanibelCommunityHouse.net.
Community Carol Sing – open to the public, at historic Captiva Chapel By The Sea, 11580 Chapin Lane, Sunday, Dec 18 at 6 p.m. A handful of locals and featuring Johnny Jensen on the drums are performing “Little Drummer Boy”. You-know-who is singing alto.
Santa Run – Want presents delivered? They must be taken to the main fire station at 2351 Palm Ridge Rd no later than 5 p.m. next Friday, Dec 23. Each gift must be in a bag with instructions attached. If it is going to a condo, a detailed sketch is helpful. Sponsored by the Sanibel-Captiva Kiwanis Club, delivery begins at 5:30 p.m.
Christmas Eve on Lighthouse Beach – open to the public, 5 p.m. outdoor service by Sanibel Congregational United Church of Christ with candle lighting, carol singing, & offering to benefit F.I.S.H and the Salvation Army.
2017 Investing: Turbulent Market, Lots of Opportunity
The below interesting, though lengthy article was posted yesterday at Florida Realtors® on line. Many have noticed that the market here came back following the election. I bet it stays hot through “season”, after that maybe some of the forecast here will apply.
“The real estate market is in for some turbulence in 2017, but it is not time for investors to hide under their beds, according to LaSalle Investment Managements latest Investment Strategy report.
“While there is a good chance there will be some real game-changers with (Donald) Trump’s election, Brexit, Italian referendum and more to come in 2017, investors should future-proof their portfolios by trying to get ahead of certain slow-moving secular trends including climate change and urbanization, said Jacques Gordon, global strategist in the real estate money managers Chicago office, in an interview.
“In the U.S., there is significant uncertainty surrounding Mr. Trump’s policies and direction, as well as the future relationship between Mr. Trump as president and the Republican-controlled Congress, the 2017 annual report, released Tuesday, noted.
“Tax cuts, infrastructure spending, deregulation and improved business sentiment – all things Mr. Trump has promoted – would benefit real estate investments, the paper stated.
“Real estate connected to infrastructure projects typically does extremely well, Mr. Gordon said. Examples include projects to convert abandoned rail lines into walkable urban spaces such as Manhattans High Line and similar projects in Atlanta, Chicago and Portland, Ore., he said.
“All of this takes infrastructure spending to get it going, Mr. Gordon said.
“However, trade wars, reduced immigration, interest rate increases and a standoff between Congress and the president on deficit spending would be negative for real estate investors.
“A trade war, for example, could hurt U.S. exports and real estate related to the technology, media and telecommunications sectors, the report noted.
“This is not a time for fear and terror, Mr. Gordon cautioned. It’s a time to pay attention and be aware of the structural changes that are coming, to be more cautious and to find places to move to offense.
“Watching trends – The four main structural, long-term trends that LaSalle tracks are demographics, technology, urbanization and environment. The latter category, new this year, covers climate change awareness, sustainability initiatives and measures to benefit the health and welfare of building users.
“Investors should keep these trends in mind as they can dramatically affect real estate holdings, the report states. This means focusing on the parts of the city where there are demographic, urbanization, technology and environmental change drivers, Mr. Gordon said.
“Tenants these days want properties that have recycling and energy conservation initiatives like saving on water, which also reduce costs, he said. Investors should also be aware of how properties in certain locations will do in climate-change conditions such as flooding. With 100-year floods happening every three years, it (climate change conditions) seems more common, he said.
“In some areas in Florida, for example, real estate investors should be aware of the costs of rising sea levels and rising tides on properties. Real estate investors can do things like making sure their backup generators are not in the basement in case of a flood, he said.
“There are investment opportunities in the U.S. One of the most attractive in 2017 will be warehouse development to take advantage of shoppers increasing preference for shopping online and subsequent moves toward faster delivery, the report states. This trend is driving demand for modern warehouses built to accommodate e-commerce in locations close to cities and traditional distribution centers, the report noted.
“LaSalle also is recommending defensive investments in premium malls, urban retail and grocery-anchored centers, which generally outperform other property types during recessions. The firm is making this recommendation even though the report acknowledges that in the future, shoppers could shift to online grocery shopping rather than buying groceries at brick-and-mortar stores.
“Looking north – “Still, LaSalle predicts rent growth will moderate in the U.S. as well as in Canada during 2017 from the high rates of 2015 and 2016. However, supply of new property should not overrun demand in North America as construction loans are harder to obtain.
“One investment opportunity in Canada stems from the globalization of Canadian pension plan portfolios, the report notes. As Canadian pension funds increase their international real estate exposure, they are selling off peripheral real estate holdings in Canada. This is creating investment opportunities in core and core-plus properties that are not typically available, the study states.
“In Europe, the coming elections in 2017 could lead to significant market volatility. The resignation of Italian Prime Minister Matteo Renzi after voters rejected a referendum to change the country’s constitution has brought anti-European Union-immigration forces to power in Italy, the paper notes. But even had the referendum passed, Italy still has problems that negatively impact real estate investors, including the undercapitalization of banks stifling credit, the report notes.
“With upcoming elections across Europe, LaSalle expects mainstream candidates to prevail over nationalist parties in Germany and France. If LaSalle executives are right, there will be moderate economic growth and inflation in 2017 and 2018, which should lead real estate investors to continue investing in income-producing properties in Europe.
“Competition for core income-producing real estate in Europe will remain intense, the study states. However, aside from a potential upside for office properties as a result of the U.K. vote to exit the European Union in June, LaSalle foresees investment opportunities in retail, including shopping centers in dominant shopping destinations in France and premium shopping centers in Sweden and Germany.
“There are also value-added opportunities in Europe. Examples are micro-apartments, apartment-hotels and student housing in Paris, Munich, Berlin, Amsterdam, Milan and Madrid.
“In Asia, Japanese pension plans have announced interest in expanding investment in real estate from less than 1 percent of an estimated 356 trillion ($3.09 trillion) combined total assets should create opportunity, the report indicated. Pension fund officials are first expected to invest in real estate in Japan and then move into core markets, sectors and properties outside the country. If Japanese pension plans increase their allocations by 2 percentage points, it would increase institutionally held real estate in Japan by 25%, the paper states.
“If you can keep your head when others are losing it, that is a good investment trait, Mr. Gordon said. Sitting still and doing nothing is the worst thing an investor can do. Then you’re letting the market push you around.
Copyright © 2016 All rights reversed for Saudi Press Agency. Provided by SyndiGate Media Inc. (Syndigate.info).
Sanibel & Captiva Multiple Listing Service Activity December 9-16, 2016
5 new listings: Seawind #A108 2/2.5 $519K, Coquina Beach #2A 2/2 $619K, Sunset South #4A 2/2 $799K, Sundial West #E304 2/2 $814.5K, Pointe Santo #E37 3/2 $1.475M.
5 price changes: Coquina Beach #2C 2/2 now $599K, Sanibel Surfside #223 2/2 now $778K, Pointe Santo #B25 2/2 now $789K, Sundial East #T306 3/2 now $1.395M, Somerset #302 3/2.5 now $1.65M.
3 new sales: Sanibel Arms West #J6 2/2 listed at $495K, Cottage Colony West #136 1/1 listed at $624.9K (our listing), Sanddollar #B204 2/2 listed at $895K.
3 closed sales: Sundial West #I207 1/1 $299K, Mariner Pointe #522 2/2 $425K (our listing & sale), Loggerhead Cay #211 2/2 $575K.
8 new listings: 5297 Punta Caloosa Ct 2/3 $699K, 4694 Rue Bayou 3/3 $739K, 1334 Junonia St 3/2 $749K, 1943 Sanibel Bayou Rd 3/3 $839K, 2920 West Gulf Dr 3/2 $979K, 775 Conch Ct 3/3 $1.595M, 1083 Bird Ln 4/3 $3.595M, 4689 Rue Bell Mer 5/6.5 $7.695M.
7 price changes: 998 Fish Crow Rd 3/2 now $699K; 537 Lake Murex Cir 3/3 now $899K (our listing); 1501 Sand Castle Rd 5/3.5 now $899,999; 276 Ferry Landing Dr 3/3 now $924.9K; 732 Windlass Way 4/3.5 now $1.379M; 2939 Wulfert Rd 5/5/3 now $1.795M; 1326 Seaspray Ln 4/4.5 now $1.995M.
2 new sales: 8991 Mockingbird Dr 3/2 listed at $829K, 800 Sand Dollar Dr 3/3.5 listed at $1.695M.
1 closed sale: 1722 Serenity Ln 3/3 $500K.
2 new listings: 6095 Dinkins Lake Rd $289,555; 6159 Starling Way $689K.
2 price changes: 2462 Wulfert Rd now $219.5K, 1311 Par View Dr now $289K.
No new or closed sales.
Nothing to report.
No new listings.
3 price changes: 14980 Binder Dr 4/3 now $1,377,956; 16167 Captiva Dr 4/3 now $1.699M; 14860 Mango Ct 5/4 now $2,343,946.
3 new sales: 11536 Andy Rosse Ln 3/3 listed at $1.775M, 11519 Andy Rosse Ln 6/5 listed at $2.225M, 11400 Dickey Ln 4/6.5 listed at $8.995M.
No closed sales.
No new listings or price changes.
1 new sale: 16950 Captiva Dr listed at $2.995M.
No 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 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, may your days be sunny & filled with holiday fun!
Susan Andrews, aka SanibelSusan