It’s quiet on the islands now – the usual annual lull before local schools begin again on August 12. Even after living on Sanibel for close to 30 years, I still shake my head when schools restart so much earlier here than up north. When the weather is like summer, seems only right that the kids are off enjoying it.
Below are some photos of our listing at 1238 Isabel Drive in Sanibel Harbours. Filmed Monday by JMA Photography, a close look will show that the new landscaping is in, with exterior almost complete. The final interior punch-list items are being finished now. Looking for a new owner for this bay-front beauty which has just undergone months of renovations! It includes a lot with dock and lift in the nearby boat basin too!
Next week at this time, island Realtors®, families, and friends will be participating in the Sanibel & Captiva Islands Association of Realtors® 2019 packing event for Meals of Hope. As one of the Super Sponsors, we helped the Association raise the $5K needed to buy the supplies, now the goal is to pack at least 20,000 meals in 3 hours. We have done it before (photo below from our event last year), so should be able to do it again.
This time of the year, the local food banks are low, yet the need is high. The SanibelSusan Team is thankful that we again can help! If you want to participate, just let us know. All helpers are welcome.
Sanibel & Captiva Islands Association of Realtors®
Also this week at the Association of Realtors®, our new Multiple Listing Service (MLS) went live. It will be run in parallel with the old system while final program kinks are worked out and our membership is fully trained. The final cut-over date is August 26. The new system has plenty of new bells and whistles, so the team and I are practicing with the new system and watching on-line webinars before some upcoming training sessions at the Association Office.
If you receive listing notifications through the old system’s automatic emails, those will continue, though beginning August 26 when the system cuts over, your saved listings will disappear. We are revisiting each prospect’s search criteria, so if your preferences have changed, please let me know. It’s a good time to update them.
Yesterday was the Association’s July Membership Meeting. Not a single new sale was announced and just five new listings were open during the 3-hour Caravan that followed. There were a handful of new sales though as detailed in the week’s MLS summary that follows some other news below.
Each United Way organization is independent, so donations stay in the community. With this organization, 92.3% of each dollar donated is given to the 82 local agencies and 245 programs they support and provide. F.I.S.H. of SANCAP is one of these agencies. Mention was made of the additional emergency funding provided to F.I.S.H. after Hurricane Irma and again last summer after local water woes affected island business and livelihoods.
The United Way provides help from early childhood development through senior life. Below is info on a couple of their programs.
- Dial 211 – United Way 211 is a free 24-hour non-emergency helpline for referral to health and social services that provide food, housing, child care, and veteran services in Lee, Hendry, and Glades counties.
- VITA – United Way Volunteer Income Tax Assistance program offers free tax preparation by IRS certified volunteers for household incomes of $66,000 or less. Dial 211 or 239-433-3900 to schedule an appointment.
2019 Lee County Market Report for June
On Wednesday, the Royal Palm Coast Realtor® Association’s Florida Gulf Coast MLS emailed their June Market Report for the county. It reported that overall, Lee County sales slipped a bit in June. It further says: “June showed Medial Sale Prices were up slightly at 2.0% for Single Family, while Townhouses and Condos showed a decrease of -5.0%. Broken down by cities, Single Family in Pine Island (30.0%), North Fort Myers (29.2%), Fort Myers Beach (28.0%), and Estero (10.0%) had double-digit increases for June over 2018. There was a significant drop in sales for Sanibel/Captiva at -30.8% over 2018. All other cities showed slight increases or decreases for the month.”
5 U.S. Beaches to Visit
“From the pristine sandy shores of Sanibel Island to the calm cool azure waters of Kapalua Bay, a trip to the beach is always a good idea. The United States has some of the most amazing beaches in the world. That doesn’t mean that all beaches are trip-worthy. There are some beaches around the country that are either overrated or just places you need to stay away from. So, we’ve put together a list of the five best beaches to add to your must-see list and five that you need to avoid like the plague.”
Since I prefer the positive, here are their five “best” beaches. Read their blog yourself to find the others.
- Sanibel Island, Florida
- Kapalua Bay Beach, Maui, Hawaii
- Key West, Florida
- La Jolla Beach, California
- Cape Hatteras National Seashore, North Carolina
Potential Title Insurance Pitfalls When Transferring Property into a Trust or LLC
“As a real estate attorney, one request I often receive from clients is to prepare a deed to transfer their real estate into either a trust (such as a revocable trust for estate planning purposes) or an LLC (for liability purposes). At first glance, this may appear to be a simple request with no adverse effects or consequences. However, depending on when the property was acquired, transferring your property may have adverse effects on your owner’s title policy that you received when you purchased the property.
“Florida Title Insurance Policy Forms – The Florida Office of Insurance Regulation (“Florida OIR”) governs the title insurance industry in several ways, including the rates charged and the title insurance policy forms issued by attorneys and title agents to purchasers of real estate.
“In 2011, OIR approved a new title insurance policy form for both owner’s and lender’s policies that is known as the ALTA 2006 Form (“06 Form”). The 06 Form includes an expanded definition of “Insured” under the policy, including transfers by the Insured listed on Schedule A (“Named Insured”) of the policy into a trust if the grantee is a trustee or beneficiary of a trust created by a written instrument established by the Named Insured of the owner’s policy.
“The 06 Form also expands the definition of “Insured” under the 06 Form to include the grantee of the Named Insured if the Insured on Schedule A wholly owns the stock, shares, membership, or other equity interests of the grantee.
“Potential Pitfalls – Before 2011, title insurance agents were using the ALTA 1992 Form (“92 Form”) which contained a narrower definition of “Insured.” More specifically, the 92 Form defined “Insured” as the Insured on Schedule A of the owner’s policy (which is the name in which you took title) and those who succeeded to their interest by operation of law including heirs, distributees, devisees, personal representatives (of an estate), or corporate fiduciaries or successors. Simply stated, your title insurance coverage would pass to your heirs in the event of death.
“Under the 92 Form, the definition of “Insured” does not expressly include entities (such as LLCs) where the Named Insured on the policy conveys the property to an LLC of which they are the sole member. Also, the 92 Form does not expressly include transfers from the Named Insured to a trustee of trust such a revocable living trust used in traditional estate planning.
“Accordingly, if you took title to your property prior to 2011 and subsequently convey the property to your trust or a LLC, you may lose your coverage under your owner’s title policy.
“Take-Away – There are many factors to weigh when transferring real estate and it is essential to understand the consequences of any potential transfer being considered. It is important, therefore, to have an attorney review your individual situation, including whether or not any proposed transfer would potentially create coverage issues with the title insurance company that issued your owner’s policy. If you have any questions or need assistance, please feel free to contact me at email@example.com or by phone at 239-344-1125.”
Help the Sea Turtles
“Early Sunday morning 7/21/19, a very familiar face visited Sanibel. Jane, a green sea turtle we first met in 2017, came ashore to nest. Our sea turtle team had already seen her six times this 2019 season, and Sunday marked our seventh encounter and her fifth nest!
“When she finished nesting, Jane attempted to return to the ocean but quickly became disoriented. Lost in the dune vegetation, Jane began to crawl in circles and away from the water, likely mistaking the light from nearby cities for her natural lighting cue of moonlight reflecting off the water. Our team stayed with Jane until she was able to safely find her way back to the beach and return to the sea.
“On Sanibel we are very fortunate to be designated a “dark beach” with ordinances focused on minimizing light pollution. Nevertheless, we are seeing an increase in sea turtle disorientation events every year.
“But how can sea turtles become disoriented if every place on the island has their lights off? Light from nearby cities that do not have lighting ordinances spills across the sky, brightening the horizon from inland, a phenomenon we call “skyglow”. Skyglow is the leading cause of disorientation for Sanibel’s nesting females and hatchlings. Sea turtles are born with the instinct to crawl towards the brightest light. Skyglow disorients turtles causing them to end up in dune vegetation, swimming pools or even roads where they are struck by vehicles.
“SCCF is reaching out to local governments to combat skyglow. Recently, a member of the Cape Coral City Council joined our nighttime survey to observe skyglow on Sanibel and learn about the effects on sea turtles.”
Sanibel & Captiva Islands Multiple Listing Service Activity July 19-26, 2019
1 new listing: Cottage Colony West #117 1/1 $625K.
No price changes.
1 new sale: Seashells #42 2/2 listed at $379.9K.
3 closed sales: Tennisplace #D22 1/1 $220K, Sundial #C310 1/1 $442K, Loggerhead Cay #562 2/2 $560K.
No new listings.
8 price changes: 325 East Gulf Dr 1/1 now $518.5K, 9401 Beverly Ln 3/3 now $675K, 1558 Sand Castle Rd 3/2 now $699K (our listing) (some aerial photos below), 1559 Sand Castle Rd 3/2 now $749K, 707 Cardium St 3/2 now $750K, 9393 Peaceful Dr 3/2.5 now $799K, 534 N Yachtsman Dr 3/2 now $899K, 599 Lake Murex Cir 3/3.5 now $1.299M.
2 new sales: 3386 West Gulf Dr 3/3.5 listed at $1.199M, 4014 West Gulf Dr 4/3 listed at $3.699M.
2 closed sales: 993 Fish Crow Rd 3/3 $654.9K, 9454 Calla Ct 3/2 $835K.
No new listings.
3 price changes: 5821 Pine Tree Dr now $439K, 5251 Indian Ct now $649K, 2510 Coconut Dr now $749.9K.
1 new sale: 486 Ponce De Leon Rd listed at $199K.
No closed sales.
1 new listing: Beach Villas #2436 3/2 $825K.
No price changes, new, or closed sales.
No new listings.
1 price change: 11509 Chapin Ln 4/4 now $1,974,999.
No new sales.
3 closed sales: 16825 Captiva Dr 3/2.5 $2,316,055; 16814 Captiva Dr 2/2.5 $4.9M, 17030 Captiva Dr 6/7.5 $6M.
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, when this will be posted earlier!
Enjoy your weekend!
Susan Andrews, aka SanibelSusan