Another Fabulous Fall Friday on Sunny Sanibel

Yesterday, I noticed a “Let’s Go Sanibel” sign at the entrance to Tahitian Gardens shopping center – a cute pick-me-up to passers-by as restoration work continues there and at many shopping centers.

Also yesterday, as many posted remembrances on social media of Hurricane Ian from a year ago on Sep 28, 2022, I was torn. Last week I almost didn’t post the schedule of anniversary events. Sometimes I don’t want to remember that storm. Then, when contacted by an island pal about attending one of the events, it made me think about all the progress that has been made over the last 12 months. Much was lost… people, places, memories, a lifetime of stuff, but it is important to accentuate the positive and grow from mistakes. It made me think about what I learned. Here are five things:

1.      Life-altering events bring the best out of nice people and the worst out of unhappy ones. Son Dave was my hurricane hero. I also am thankful to his wife Lisa, brother-in-law Brian, and some special neighbors.

2.      The Sanibel leadership team and staff led by Mayor Smith and City Manager Souza performed beyond expectations. We owe them all, big time.

3.      Even if you lose everything, today’s technology can help one survive, recover, and thrive, but you must remember to back up the important stuff.

4.      Mother Nature always wins, so be prepared. Then, don’t be surprised when beach daisies pop up in strange places.

5.      Hurricane muck stinks and is wicked slippery. Old fat gals with bad knees should not fall in it.

$388 Million Awarded to Communities Impacted by Hurricane Ian

Florida Realtors Public Policy Update this afternoon included that Florida Gov Ron DeSantis office “announced yesterday that $388 million in state funding was awarded to communities impacted by Hurricane Ian to support long-term recovery efforts and resiliency. These funds will be used to assist with ongoing hurricane repairs and recovery efforts for schools, sheriff’s offices, fire stations, parks and recreation centers, roads, wastewater treatment plants, beach renourishment, and will assist local governments with loss of revenue since the storm. Funding highlights include:

  • $51M to City of Cape Coral
  • $51M to Lee County School Board
  • $28M to City of Sanibel
  • $14M to Fort Myers Beach Fire Control District
  • $8M to Sanibel Fire & Rescue District
  • $4.3M to Lee Memorial Health Systems
  • $1M to Captiva Erosion Prevention District
  • $600K to City of Fort Myers
  • $350K to Captiva Fire Control District”

Sanibel & Captiva Islands Association of Realtors®

Our local Association of Realtors® didn’t meet this week, but their annual classes began for members looking to earn or recertify their SCIS (Sanibel & Captiva Islands Specialist) designation. The 12-part schedule runs through next Wed which is when I teach the Resort & Second-Home Market module. Meanwhile, I am updating my Power Point and readying for the annual photo of attendees modeling their quiz winnings (aka funny resort/vacation props).

Our next Caravan Meeting is Thurs Oct 12 at BIG ARTS, the morning after our annual golf tournament and RPAC Auction at The Sanctuary.

Island Weather

It may be fall, but this week we received some reminders that the rainy season ain’t over yet. Periodic nighttime showers continued, while Tue and Wed, it also rained nearly all day. We are so accustomed to summertime blue skies and sunshine, that continued overcast days can change the mood – or remind one that hurricane season goes until Nov 30. On the plus side, temperatures got into the mid-70’s and new landscaping at many properties got an extra dose of free water.

Today, it’s back to sunshine. After this weekend, the forecast calls for little rain with daytime temperatures back in the high 80’s. That’s fall, y’all.

Events & Re-Openings

Sanibel Causeway – At a Chamber of Commerce meeting this week, attendees were updated on causeway/bridge progress. This info from their “timeline” slide:

  •             Oct 2023 – Night work with lane adjustments
  •             Dec 2023 – Road surface work estimated to complete
  •             End of 2024 – Punta Rassa boat ramp reopens
  •             Early 2025 – Water work (bridge protection) estimated to complete
  •             Late 2027 – Causeway islands recreation areas restoration estimated to complete.

Sanibel Farmers Market – Reopens for the season on Sun 10/1, back on the grounds of City Hall. The market will be there every Sun through May (including Easter) from 9 a.m. to 1 p.m.

Sanibel Recreation Center – The Sanibel Rec Center is expanding its hours starting Oct 2 to Mondays thru Thursdays 7 a.m. to 7 p.m.; Fridays 7 a.m. to 5 p.m.; Saturdays 8 a.m. to 5 p.m.
The Sanctuary Golf Club – The Sanctuary Golf Club Membership Coordinator Kathryn Riggio advises that they have a limited number of both Equity and Social Memberships available. I am happy to email you their handout with details. For an Equity Membership, the initial fee is $150K, with $16,737 annual dues plus sales tax, and $2,400 annual capital fee. For a Sport/Social Membership, the initial fee is $50K, with $7,331 annual dues plus sales tax, and $1,200 annual capital fee. Usually there are wait lists for both, so a good time to consider joining.

Sanibel Final Budget Hearing

Wed night Sep 27, I listened in during the Sanibel City Council Final Budget Hearing. Before discussing the budget, several consent agenda items were approved:

1.      Resolution 23-061 extending the authorization for placement of temporary signs on commercial properties until Sep 30, 2024.

2.      Resolution 23-062 extending the authorization for the construction or repairing of structures to occur between the hours of 7:00 a.m. to 7:00 p.m. Monday through Saturday, through Sep 30, 2024.

3.      Resolution 23-065 extending the authorization of outdoor display of merchandise under certain conditions provided via Resolution 23-010 through Sep 30, 2024.

4.      Resolution 23-066 waiving the temporary structure development permit fee retroactively from May 8, 2023 through Sep 30, 2024.

Regarding the budget:

1.      Resolution 23-056 adopted the final operating and voted debt service ad valorem millage rates for tax year 2023 (fiscal year 2024). (The approved operating millage rate is 2.500 which is 44.2% higher than the roll-back rate, not the millage rate last year.)

2.      Resolution 23-057 adopted the final budget for fiscal year ending Sep 30, 2024.

3.      Resolution 23-064 established committed fund balances for disaster reserve and environmental initiative reserve.

Florida Tops NY in Home Values

An article by Kerry Smith posted online Wed Sep 27, 2023 on Florida Realtors® says:

“The total value of the U.S. housing market surged more than $2.6 trillion over the past year, according to a Zillow analysis, largely due to rising home prices and the value of new construction.

“Florida has been at the forefront of that value gain, according to the data used in the study. In the latest analysis of total real estate value, the Sunshine State took over the No. 2 spot, bumping New York State down to third place. California retains the top spot with more than $10 trillion of value – nearly 20% of the U.S. total.

“In a list of the top 20 U.S. metros based on the total value of their real estate, two Florida metro areas make the list:

  • 5. Miami-Fort Lauderdale: $1,269.8 billion, up $100.5 billion since June 2022 – 8.6%
  • 18. Tampa: $521.1 billion, up $18.5 billion since June 2022 – 3.7%
“While “total real estate value” is always a squishy concept – the equivalent of an automated appraisal for every piece of property in America – the trending changes don’t surprise many real estate professionals.
“The total value of the U.S. housing market – the sum estimated value for every U.S. home – is now slightly less than $52 trillion, or $1.1 trillion higher than a previous peak reached in June 2022. A small chunk of that growth can be attributed to a 0.7% rise in the average value of a U.S. home during that time, but the main value change comes from new construction.

““A steady flow of new homes hit the market this spring and summer, helping chip away at the deep inventory deficit and boosting the total value of the market,” says Orphe Divounguy, Zillow senior economist. “Enough buyers remained to keep the market moving. … New home sales rose this year while existing home sales fell, and (new homes) should make up a bigger piece of the home sales pie for as long as rates remain elevated.”

“The four most valuable metro areas have remained largely unchanged over the past five years: New York, Los Angeles, San Francisco, and Boston. But a new entrant from Florida, Miami, claimed the fifth spot, jumping all the way from ninth as recently as May 2021. Miami’s value surge pushed Washington, D.C., out of the top five.

Metros gaining the most value – Of the six markets where housing gained the most value since the start of the pandemic, four are in Florida:

  • Tampa: Up 88.9%
  • Miami: Up 86.6%
  • Jacksonville: Up 82.4%
  • Orlando: Up 72.3%

“Zillow attributes large population growth as one reason for Florida’s strong new construction figures, but stronger competition for existing homes also played a role.

“California remains a behemoth with more than $10 trillion of value in its housing market; nearly 20% of the national total. Florida, New York, Texas, and New Jersey round out the top five.

“20 ‘most valuable’ metros and percentage changes since June 2022
New York: Up 4.2 %

Los Angeles: Up 0.1 %
San Francisco: Down 8.8%
Boston: Up 3.4 %

Miami-Fort Lauderdale: Up 8.6 %
Washington: Up 3.2 %
Chicago: Up 6.9 %
Seattle: Down 5.1 %
San Diego: Up 1.0 %
Dallas-Fort Worth: Down 0.3 %
San Jose, Calif.: Down 5.2 %
Phoenix: Down 2.1 %
Philadelphia: Up 6.8 %
Riverside, Calif.: Down 3.1 %
Houston: Up 3.5 %
Atlanta: Up 3.7 %
Denver: Down 6.0 %
Tampa: Up 3.7 %
Sacramento, Calif: Down 5.4%
Portland, Ore.: Down 4.0%.”

Attorney Files Comments with State Agencies

Posted Wed by SCCF (Sanibel-Captiva Conservation Foundation):
“After the disappointing decisions by the Lee County Commissioners in early September, the proposed amendments to the Land Development Code and the Lee Plan were passed. As required, the amendments were then transmitted to the state for comments by concerned agencies. The “Protect Captiva” coalition has retained legal counsel that has submitted comments to the state agencies and is evaluating next steps.

“Legal Update from the Land Use Committee of the Captiva Civic Association

“On Sept. 7, Lee County transmitted its proposed amendments to the Captiva chapter of the Lee Plan to various state agencies for their comments as required by state statute. The state agencies have until Oct. 6 to send their comments back to the county.

“While the state agencies cannot reject outright the county’s amendments, their comments can induce the county to remove or modify the amendments, and they could affect the results of future litigation.

“Our Attorney, representing the unified position of the “Protect Captiva” coalition, submitted the community’s “significant concerns” to the state agencies reviewing the county’s amendments which “would perversely allow an increase in hotel rooms and additional floors of buildable living space on a barrier island within the Coastal High Hazard Area just one year after that island was devastated by Hurricane Ian.”

“The Attorney’s memo advises the state agencies that the county failed to accurately describe the proposed amendments in its report to the state – failing to mention that the Lee Plan amendments were made to facilitate changes in the Land Development Code which would permit higher buildings and more hotel rooms than currently allowed on Captiva.

“The memo also advises state agencies that the amendments constitute an “up-planning” of development on Captiva which is not supported by the data and analysis required by the Community Planning Act. The county failed to analyze the amendments’ effects on the island’s infrastructure, its roads, its hurricane evacuation routes, its water resources, its septic systems, its sewer project or its environmental resources.

“The county also failed to recognize that granting special benefits to a single property owner on South Seas constitutes inappropriate spot-planning and raises serious constitutional issues of equal protection.

“Finally, the memo makes clear that the amendments have little to do with resiliency and will only make Captiva less resilient and less safe when facing future hurricanes. The memo concludes by asking the state agencies to agree that these amendments are a completely unacceptable response to the devastation wrought last year by Hurricane Ian – and to so advise the county.

“As indicated above, once the county gets feedback from the state agencies, it will have to decide how to proceed. If the county chooses to adopt the amendments without change and implement the Land Development Code with greater heights and density for Captiva, the community coalition will evaluate and continue to pursue the best legal options available to “Protect Captiva.”

Sanibel & Captiva Islands Real Estate

With data from the islands MLS (Multiple Listing Service), below are updated summary tables of the residential sales statistics, followed by the island MLS action this week. Sanibel home sales continue to be the HOT market.

SANIBEL

RESIDENTIAL

CONDOS

HOMES

LOTS

#

Avg Price

DOM

#

Avg Price

DOM

#

Avg Price

DOM

For sale

57

1,096,697

145

73

1,600,753

116

29

948,944

159

Under contract

5

725,600

100

18

1,065,808

82

2

345,000

148

Sold 2023 to 9/29

79

928,545

62

225

1,261,518

69

22

958,431

68

Sold 2022

123

1,136,199

44

185

1,602,745

52

26

779,528

223

Sold 2021

287

875,127

113

355

1,341,881

89

69

698,862

442

CAPTIVA

RESIDENTIAL

CONDOS

HOMES

LOTS

#

Avg Price

DOM

#

Avg Price

DOM

#

Avg Price

DOM

For sale

23

1,543,413

102

10

7,687,800

138

2

7,247,500

22

Under contract

1

1,700,000

4

0

N/A

N/A

0

N/A

N/A

Sold 2023 to 9/29

11

848,363

108

17

2,716,647

70

0

N/A

N/A

Sold 2022

28

1,458,983

52

22

5,636,386

133

0

N/A

N/A

Sold 2021

64

1,150,373

145

44

2,988,520

261

2

2,950,000

731

Sanibel & Captiva Islands Multiple Listing Service Activity September 22‑29 

Sanibel

CONDOS

3 new listings: Sundial #H108 1/1 $495K, Spanish Cay #A8 2/2 $515K, Tantara #202 3/3 $2.1M.

1 price change: Gulfside Place #208 2/2 now $1,365,555.

No new sales.

2 closed sales: Sanibel Arms #H7 1/1 $355K, Wedgewood #204 3/3.5 $2.9M.

HOMES

3 new listings: 1813 Long Point Ln 4/2.5 $1.10M, 1731 Serenity Ln 4/3 $1.2M, 3990 Coquina Dr 3/2 $1.2M.

3 price changes: 1160 Buttonwood Ln 3/2 now $850K, 9126 Mockingbird Dr 3/2 now $989K, 220 Palm Lake Dr 3/3 now $1.225.

2 new sales: 1535 Centre St 2/2 listed at $649,555; 1990 My Tern Ct 3/2 listed at $925K.

3 closed sales: 803 Lindgren Blvd 4/3 $950K, 242 Christofer Ct 3/2 $1.025M, 774 Sand Dollar Dr 3/3.5 $1.999M.

LOTS

Nothing to report.

Captiva

CONDOS

Nothing to report.

HOMES

1 new listing: 14971 Binder Ln 4/3 $8.5M.

No price changes, new or closed sales.

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.

Enjoy your weekend! Til next Friday, Susan Andrews, aka SanibelSusan

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