It’s SanibelSusan reporting that as we wrap up another work week, I am happy to report that Sanibel is “getting back to normal.” Plenty of storm debris remains piled roadsides, particularly on side streets, but steady removal continues – seven days a week – with area landscape looking better and better day-by-day. Many of the bike paths are cleared now too.
Below are before and after photos of the enormous tree that came down at the entrance of Casa Ybel Resort during Hurricane Irma. The 1st was taken September 12, the 2nd taken this morning, September 29. It’s great to see that they were able to salvage this beauty!
The huge tree and vegetation collection area on Island Inn Road is converting much of it to mulch which soon will be offered to the public. The City continues to post post-Irma progress reports on www.mySanibel.com. It’s worth mentioning again that City efforts and their communications both before, during, and after the storm have been remarkable.
A few snowbirds and away residents have returned early to personally access their properties. Luckily, little damage, other than tree/vegetation loss, has been reported.
SanibelSusan Realty Associates
Here at the office, my closing that was delayed because of the storm, closed this week. I continue to work on resuscitating offers that were in the works during the hurricanes and was happy to be out showing a couple of condos this morning.
Teammate Dave held an Open House yesterday at Loggerhead Cay, usually a busy complex even in late summer/early fall, but it was very quiet there.
Thanks to everyone for their patience as the island recovers from Irma. Thankful we are that storms like this occur in the slow time of the year. Even so, we had good listing activity this week and see things picking up.
Overall inventory is low. The below table shows the statistics today from the island MLS. Prices are holding their own and increasing in many products. I bet the combination of early arrivals and northern weather already turning contributes to an early boost in “season” sales. The highest number of island sales traditionally are last quarter, followed by first quarter – or right around the corner. The action posted in the Sanibel & Captiva Islands Multiple Listing Service (MLS) since last Friday follows a couple of news items below.
No, Avg $ Price No. Avg $ Price
For sale 9/29 80 704,202 19 1,278,361
Under contract 11 858,036 5 812,000
Sold 2017 thru 9/29 104 747,663 27 624,933
Sold 2016 143 717,768 22 873,636
For sale 9/29/17 110 1,453,940 28 3,551,940
Under contract 22 1,129,191 2 3,647,500
Sold 2017 thru 9/29 151 1,015,454 20 2,565,475
Sold 2016 181 979,576 27 3,195,000
For sale 9/29/17 54 472,741 1 2,195,000
Under contract 2 419,000 0 N/A
Sold 2017 thru 9/29 26 321,608 2 2,312,500
Sold 2016 25 487,095 2 3,150,000
This representation is based in part on data supplied by the Sanibel & Captiva Islands Association of Realtors® 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 the general real estate activity in the community and does not imply that SanibelSusan Realty Associates is participating or participated in these transactions
Sanibel & Captiva Islands Association of Realtors®
No Caravan meeting this week at the Association of Realtors® as the summer every-other-week schedule continues until our Annual Meeting on Oct 26. Then, it reverts to every Thursday and continues through “season”.
The “Totes of Hope” packaged last Thursday were delivered and well-received in hard-hit areas in South Florida and the Keys over the weekend. Next week, the Communications and Public Relations Committee will finalize plans for an upcoming early November fundraiser for “Friends Who Care” as the Association continues their “Working Together to Make a Difference” campaign.
Bleu Rendez-Vous French Bistro – Reopens for dinner at 5 p.m. on Thursday Oct 5.
Island Cow – Reopened this morning.
Sanibel Farmers Market – reopen for its 10th season on Sunday Oct 1 and will continue every Sunday through the winter from 8 a.m. until 1 p.m. It’s on the grounds of Sanibel’s City Hall and has grown to about 40 vendors. This year, Local Roots LLC, has added a 9th market to their busy schedule. This one will be at Captiva’s South Seas Resort every Tuesday from December 19 through April 3 from 9 a.m. to 1 p.m. They expect to have 20 vendors at that market. Go to www.BuyLocalLee.com for a complete schedule of all their markets.
Trader’s Gulf Coast Grill & Gifts – reopens Monday Oct 1 for the annual Shell Museum Island Dinner fundraiser, this year called a “Cephaloparty” (A cephalopod is any mollusk of the class Cephalopoda, having tentacles attached to the head, including the cuttlefish, squid, nautilus, and octopus.) Tip your favorite celebrity at www.ShellMuseum.org.
Planning Ahead – Pickleball Classic
The 1st annual Sundial Beach Resort & Spa Pickleball Classic will be on the resort’s 12 new state-of-the-art courts on November 3-5. It will include men’s doubles, women’s doubles, and mixed doubles with skill and age-level placement. Contact the resort for more details https://sundialresort.com/play/pickleball-classic/
Long-Term Mortgage Rates Unchanged: 30-year at 3.83%
Good news for those needing a mortgage. The below article was posted yesterday by the Associated Press and reposted by Florida Realtors® on-line:
“Long-term mortgage rates were unchanged this week: The 30-year fixed-rate mortgage remained at 3.83%; the 15-year home loan, popular among homeowners who refinance their mortgages, stayed at 3.13%, mortgage buyer Freddie Mac said Thursday.
“Rates on long-term home loans typically track the yield on 10-year Treasury notes, which barely budged this week.
“Two weeks ago, the 30-year mortgage hit a low for the year before bouncing back up last week. So far this year, the 30-year rate is running above last year’s average of 3.65%.
“Freddie Mac says the rate on adjustable five-year mortgages blipped up to 3.20%, from 3.17%. To calculate average mortgage rates, Freddie Mac surveys lenders across the country between Monday and Wednesday each week. The average doesn’t include extra fees, known as points, which most borrowers must pay to get the lowest rates. One point equals 1% of the loan amount.
“The average fee for a 30-year mortgage rose to 0.6 point from 0.5 point. The fee on 15-year home loans remained at 0.5 point. The fee on an adjustable five-year mortgage rose to 0.5 point from 0.4 point.”
Sanibel & Captiva Multiple Listing Service Activity September 22-29, 2017
3 new listings: Sundial West #C306 1/1 $435K, Sanibel Moorings #941 2/2 $59K, Sanibel Moorings #612 2/2 $565K.
4 price changes: Seashells #40 2/2 now $354.9K, Pointe Santo #C34 1/1 now $589K (our listing), Sand Pointe #122 2/2 now $699K (our listing), Tamarind #B202 2/2.5 now $1.69M.
3 new sales: Donax Village #3 2/2 listed at $438.5K, Blind Pass #F108 3/2 listed at $594.9K, Tarpon Beach #102 2/2 listed at $749K.
2 closed sales: Blind Pass #F106 2/2 $385K, Sand Pointe #113 2/2 $683K.
No new listings:
4 price changes: 981 Sand Castle Rd 3/2.5 now $499K, 714 Durion Ct 3/2 now $609K, 998 Fish Crow Rd 3/2 now $659K, 1672 Hibiscus Dr 3/2 now $1.35M.
4 new sales: 976 Sand Castle Rd 3/3 half-duplex listed at $489K, 419 Lighthouse Way 4/3 listed at $797.5K, 485 Lake Murex Cir 3/2 listed at $1.075M, 3728 West Gulf Dr 5/5 listed at $2.395M.
1 closed sale: 215 Palm Lake Dr 3/2 $630K (our Buyer).
Nothing to report.
No new listings.
1 price change: Lands End Village #1665 2/2 now $975K.
No new sales.
1 closed sale: Beach Villas #2525 2/2 $620K.
HOMES & LOTS
Nothing to report.
This representation is based in part on data supplied by the Sanibel & Captiva Islands Association of Realtors® 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 the 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, wishing you happy days, nice weather, & fabulous sunrises, sunsets, & all times in-between.
Susan Andrews, aka SanibelSusan