It’s Susan reporting from the Celebrity Equinox en route back from a few days in the Caribbean, docking back in Florida tomorrow. Technology has me working wherever I am.

Teammate Dave has been handling things in the office and says it has been very quiet on the islands – not totally unexpected for early June. Lisa will be in the office tomorrow morning & I bet I’m back there by early afternoon,

Dave’s info on the action posted since last Friday in the Sanibel & Captiva MLS is after a couple of news items below. Also below is our ad from today’s “Island Sun”. This terrific home is getting showings!

Instant Reaction from NAR’s Chief Economist

Posted Wed, June 15 by National Association of Realtors Chief Economist, Lawrence Yun:

“Today’s announcement by the Federal Reserve set a big increase in interest rates and means several more rounds of rate hikes are on the way in upcoming months. So far, the short-term fed funds rate that the Fed directly controls has risen by 175 basis points. But the 30-year fixed rate mortgage has risen even more – by nearly 300 basis points. On the same $300,000 mortgage, the monthly payment has risen from $1265 in December to $1800 today. That’s painful and, consequently, will shrink the buyer pool.

“Home sales have recently been trending down toward 2019 figures. Sales could fall even further with some inventory sitting on the market for more than a month like in pre-pandemic days. Pricing a listed home properly will, therefore, be the key to attracting buyers. In the meantime, rental demand will strengthen along with rents. Only when consumer price inflation tops out and starts to fall will mortgage rates stabilize or even decline a bit. That is why providing additional oil supplies will be critical in containing consumer prices and interest rates.”

This coming Thurs, he also will speak at the islands Association of Realtors monthly membership meeting. Those comments will be shared next week.

Blind Pass Beach Park Closed

The City of Sanibel announced Tues that Blind Pass Beach Park would close the next day, June 15, out of concern for public safety. Since May, the shoreline at the park gradually has eroded and a steep escarpment developed at the end of the beach access paths making public access to the water unsafe.

The escarpment can reach up to 6 feet at times and extends from the Blind Pass Bridge south to near Castaways Cottages. The City said conditions will be monitored and the park will reopen when the public can safely access the beach again.

Sea Turtle Nesting Season Reaching Peak

SCCF’s sea turtle team has documented 411 nests as of June 15. That total is on pace with nest count last year at this time. The impacts of recent rains and wind that became Tropical Storm Alex were minimal, with only five nests lost in that surge.

Mid to late June is peak nesting season on the islands so busy weeks are expected. With nesting turtles coming ashore at night, the public is reminded to turn off lights, fill in beach holes, remove furniture, and to please call the SCCF Sea Turtle Hotline to report any stranded turtles or hatchlings, nests that have been tampered, eggs that are exposed, or nests being washed away. Call 978-SAVE-ONE. Visit sancaplifesavers.org to learn about helping.

Sanibel & Captiva Islands Multiple Listing Service Activity June 10-17, 2022

Sanibel

CONDOS

1 new listing: Pointe Santo #A25 2/2 $1.4M.

2 price changes: Blind Pass #D201 2/2 now $699K, Sanibel Arms West #F2 1/1 now $769K.

2 new sales: Sundial #D405 1/1 listed at $850K, Nutmeg Village #104 2/2 listed at $874.9K.

5 closed sales: Loggerhead Cay #351 2/2 $824K, Nutmeg Village #211 2/2 $1.125M, Sundial #G401 2/2 $1.274M, Sanctuary Golf Villages #5-6 3/3 $1.398M, Pelicans Roost #302 $1.4M.

HOMES

5 new listings: 1046 Sand Castle Rd 2/2 $995K, 1012/1014 E Gulf Dr 4/2 $995K, 3947 Coquina Dr 2/2 $1.249M, 760 Cardium St 3/2 $1.25M, 5690 SanCap Rd 3/3 $1.875M.

4 price changes: 646 Rabbit Rd 3/2 now $799K, 9476 Balsa Ct 3/2 now $1.135M, 2474 Wulfert Rd 3/2.5.5 now $1.995M, 1740 Dixie Beach Blvd 3/2.5 now $2.495M.