It’s SusanSusan flying solo at SanibelSusan Realty today as the rest of the team enjoys an extended holiday. I hope that you and yours also are having a wonderful Thanksgiving weekend.
Again, all week, island weather has been grand. Delightful temperatures and breezes have made it excellent for enjoying the beach, boating, biking, shelling, and more. Showers were forecast both yesterday and today, but so far, the only rain has been a couple of brief showers yesterday. A few more are expected in the morning, followed by more sunny days with temperatures in the 70’s all of next week.
The islands are busy, so it’s the time of the year when it pays to plan your trips and check the City traffic cams at http://www.mysanibel.com/Live-Street-Cams)
1031 Tax-Deferred Exchanges
Over the last 25+years, many SanibelSusan Realty clients have performed 1031 tax-deferred exchanges, most under the guidance of Dave Owens. Time flies, but those exchanges continue to be popular, so here’s a repeat of his recent company announcement. Congratulations on your recent company anniversary, Dave Owens!\
“Midland 1031 is celebrating 20 years in business this month. Formerly known as 1031 Tax-Free Strategies, Midland has performed thousands of tax-free exchanges all over the United States since the fall of 1997. Midland 1031 was formed in 1997 by Dave Owens, a CPA who had a firm on Sanibel Island. When Owens first started his company, they performed 47 exchanges during its first full year of operation. The company grew rapidly throughout the years and hit the 1,000 exchanges per year mark for the first time in 2005. Currently in 2017, the company has surpassed the 1,000 exchanges a year mark, showing solid growth and continues to be an educational and service leader in the real estate community.
“A 1031 tax-deferred exchange allows real estate investors to defer federal and state taxes on the sale of investment real estate as long as proceeds are reinvested into additional investment real estate of equal or greater value, as well as following the IRS 45-day and 180-day timing rules. There is no other deferral in the federal tax code like section 1031. The proposed Republican tax law changes does not change the current 1031 rules.
“When asked about how he feels as he looks back over the last 20 years, Owens comments: “I am really proud of the job we have done helping real estate investors save millions of dollars in taxes. With the help of Senior Manager Theresa Knower, we have helped thousands of investors navigate through the process of exchanges, start to finish, and have earned the reputation as the gold standard among Qualified Intermediaries”. Knower is a veteran in the industry, speaking both locally and nationally on the topic of 1031 exchanges as well as working directly with her staff to complete exchanges.
“Of the 108 Certified Exchange Specialists in the entire country and eight in the state of Florida, two of them are with Midland 1031; Owens and Knower both hold their Certified Exchange Specialists certifications. They are among the most knowledgeable, experienced exchange specialists anywhere.
“Midland 1031 is proud to be serving not only the local community but also nationwide investors for the last 20 years. Learn more about Midland 1031 and 1031 exchanges by visiting Midland1031.com.”
Sanibel Masters Art Festival – today & tomorrow (Sat, Nov 25) at The Sanibel Community House 9 a.m. to 4 p.m.
Lions Charity Christmas Tree Sales – begin tomorrow, 10 a.m. to 6 p.m. at Bailey’s Shopping Center.
5th Annual Happy Hour Holiday Shopping at ‘Ding’ Darling – Wed, Nov 29 at the Refuge Nature Center Store where the ‘Ding’ Darling Wildlife Society Friends of the Refuge will keep the store open until 7 p.m. Last year, my purchases included ornaments, stocking stuffers, caps, and toys. They have Luc Century items too.
Sanibel & Captiva Luminary – As soon as Thanksgiving weekend is over, the islands jump right into Christmas holiday mode. Sanibel Luminary, always the first Friday in Dec, is next week, Dec 1, followed by Captiva Luminary on Sat, Dec 2.
The Sanibel Historical Museum and Village kicks off luminary this year with a step back in time. Called “A Sanibel 60’s Christmas, Change is on the Way”, this year’s afternoon event focuses on the causeway which opened in 1963 and the changes that followed. The event is free from 3:30 to 5:30 p.m. on the village grounds with lots of 60’s memorabilia displayed.
From 4 to 4:45 p.m., the BIG ARTS Chorus will perform (you-know-who is in the alto section). The Brass Ensemble follows them from 4:45 to 5:30 p.m.
After that, the shops and businesses up and down Periwinkle will be open late. Follow the lighted luminaries along the bike path. It’s magical.
Celebration of 100th Anniversary of 1st Blind Pass Bridge – Jan 31, Wed. The Sanibel Historical Museum and Village is joining with the Captiva Island Historical Society to present “Blind Pass: The Bridge That Connects” at South Seas Island Resort. The multi-media program will present a history of the three Blind Pass bridges – and celebrate the 100th anniversary of the first bridge, a renowned fishing destination – along with stories of the Santiva community and some of its characters, and the shifting waterway that comprises Blind Pass. The event is free, but reservations are required, due to limited seating. Make your reservation by phone (230-472-2323), email (email@example.com) or the link below:
More Focus on Water Quality & Conservation
If you are familiar with the organization START (Solutions to Avoid Red Tide), here’s some news reported this week in the Sanibel-Captiva “Islander”:
“Coastal Keepers, a business reorganization of Solutions to Avoid Red Tide, has rebranded to focus on water quality and ocean conservation as well as red tide. “This is the START you know, but really improved and really focused on our islands,” President Dr. Bruce Neil said. “We are forming a local partnership that makes more sense for everyone. We are trying to be more sufficient, so donated support goes more to the cause and less to the machine behind the cause. It’s a tried and proven local organization that has a new name.”
“He said START is a not-for-profit organization based in Sarasota that has subchapters, which included a Sanibel-Captiva chapter for at least 10 years. “The state organization of START seems to be contracting and really the Sanibel Captiva chapter of START was really driving the whole state,” he said. “We debated this for a long time and decided why don’t we go off on our own and make our own thing on Sanibel. As a conservation organization, we very much believe that we ought to have this lean business aspect as possible, so that we can spend more money on conservation. We realized our very best way to trim down the business is to partner with the Sanibel Sea School.”
Over the years, Neil said it has become hard to dedicate an organization to red tide because when there is a bloom everyone wants to know the solution, comparted to the years when it is not present the money and interest disappears. ”We changed the mission of Coastal Keepers to more of a water quality and ocean conservation institution in general, in addition to red tide,” Neil said, adding the mission is “to create conservation initiatives that promote and improve the future of marine resources, and coastal heritage.”…
“Coastal Keepers’ vision is “a community that perpetuates a coastal legacy for future generations. “There is a lot more we can do in our own backyard to enrich our community, to try to conserve and help our heritage move forward on a very local scale that are really for the most part limited to Sanibel and Captiva,” Neil said….
“The annual event held by START, Cracker Fest, has been renamed to The Launch and will be held on March 28. The location will be announced in the near future. With the reorganization, all the money raised during the fundraiser will stay on the islands.”
Lee County Visitor & Convention Bureau Breaks Records
In Lee County, tourism employs one out of every five people. Approximately 4.8 million visitors arrive each year and generate about $3 billion in economic impact. Domestic travel showed the greatest increase in visitation, including the Midwest region which generated the largest share of visitors. One-fifth of paid accommodations visitors came from international markets.
Tourist tax revenue – also known as the bed tax – is a 5% tax that funds three countywide functions: destination marketing; beach and shoreline re-nourishment, maintenance and enhancement projects; and stadium debt service and major maintenance by Lee County’s spring training facilities. The countywide tax is authorized by Florida Statute 125.0104 to increase tourist-related business activities in Lee County.
New Website at Captiva Island Historical Society
With a new contemporary design and info on upcoming events and a link to thousands of archived items, check it out at http://www.captivaislandhistoricalsociety.org
Sanibel & Captiva Multiple Listing Service Activity November 17-24, 2017
6 new listings: Tennisplace #D21 1/1 $249.8K, Mariner Pointe #521 2/2 $495K, Nutmeg Village #208 2/2 $749.9K, Pointe Santo #B26 2/2 $759K, Nutmeg Village #201 2/2 $1.0399M, Sanibel Seaview #C2 3/3 $1.15M.
2 price changes: High Tide #C101 2/2 now $979K, High Tide #C201 2/2 now $1.045M.
2 new sales: Sundial West #B108 1/1 listed at $469K, Nutmeg Village #109 2/2 listed at $689K.
4 closed sales: Spanish Cay #E3 2/2 $370K, Ibis at The Sanctuary #B102 2/2 $443K (our listing), Blind Pass #F108 3/2 $568.3K, Sandpiper Beach #501 2/2 $690K.
8 new listings: 1187 Sand Castle Rd 3/2 $635K, 1323 Par View Dr 3/2 $649K, 1008 Demere Ln 2/2 $639K, 2510 Harbour Ln 2/2 $749K (our listing) (photos below), 4460 Waters Edge Ln 3/2 $924K, 6047 Sanibel-Captiva Rd 3/2.5 $1.295M, 500 Kinzie Island Ct 3/3 $1.599M, 2689 Wulfert Rd 4/6.5 $2.195M.
7 price changes: 1846 Ardsley Way 2/2 now $599K, 1327 Tahiti Dr 2/2 now $633K, 1183 Kittiwake Cir 3/2 now $824.5K, 1314 Par View Dr 3/2 now $825K, 1114 Captains Walk St 3/3 now $949K, 1730 Jewel Box Dr 4/3 now $1.695M, 514 Kinzie Island Ct 4/5 now $1.945M.
3 new sales: 714 Durion Ct 3/2 listed at $609K, 9459 Begonia Ct 3/4 listed at $639K, 4155 West Gulf Dr 4/3 listed at $4.295M.
No closed sales:
No new listings.
1 price change: 5633 Baltusrol Ct now $349K.
1 new sale: 1299 Par View Dr listed at $241.5K.
No closed sales.
1 new listing: Beach Cottages #1403 2/2 $1.195M.
1 price change: Marina Villas #610 2/2 now $750K.
3 new sales: Tennis Villas #3220 1/1 listed at $298K, Tennis Villas #3223 1/1 listed at $305K, Lands End Village #1660 3/3 listed at $1.625M.
No closed sales.
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.