A few more showers watered the islands this week, while a mini-cool front yesterday brought humidity down a bit. During peak storm season, we all more carefully watch the weather.

In fact, the National Hurricane Center now is monitoring the northwest Caribbean and southern Gulf for tropical development. Some forecasters say there is a 40% chance a storm could form near this region next week. Details on its possible future track and strength are uncertain, but those on the Gulf Coast should stay tuned.

Why Is Florida Such a Retirement Hot Spot?

A recent article by WalletHub reposted by Florida Realtors® says: “Of course, Florida offers 1,350 miles of coastline, warm, sunny weather (233 sunny days per year on average) and an array of recreation and entertainment options, but the state also has no income tax, no estate tax and no inheritance tax – leading the Tax Foundation to rank Florida among the top five best states as part of its 2024 State Business Tax Climate Index, while California, New York and New Jersey rank among the worst.

“Just before Amazon founder Jeff Bezos’ home state of Washington enacted a new state capital gains tax in 2022, Bezos sold about $15.7 billion worth of Amazon stock – sidestepping approximately $1.1 billion in taxes that would have been due under the new tax.

“He then purchased two opulent estates in Miami’s Indian Creek Village, commonly referred to as “Billionaire Bunker” where Florida’s tax laws offer Bezos another advantage: His heirs are now insulated from Washington’s estate tax, which stands as the highest in the nation at a top rate of 20%.

“Bezos later purchased a third, $90 million property on the island to temporarily reside there as the demolition of the other houses he acquired on the island proceeds.

“According to WalletHub, around 68% of workers are somewhat confident that they will have enough money to retire comfortably, but only 21% are very confident. As a result, more than half of people expect to retire at age 65 or later – and three-quarters expect to do some work even after retiring.

“It’s important to choose wisely when picking where to retire, as many retirees are on a fixed income,” WalletHub Analyst Chip Lupo, said. “As a result, the best cities for retired people are those that minimize taxes and expenses, as well as have good opportunities for retirees to continue paid work for extra income, if they choose to do so. In addition, the top cities provide high-quality health care and offer plenty of enjoyable activities for retirees.”

The WalletHub article ranked the best states by comparing “retirement friendliness” of more than 180 U.S. cities across 45 key metrics ranging from cost of living and tax laws to the availability of activities and the quality of health care. Orlando, Florida claimed the top spot overall, followed by Miami in second place. Minneapolis, Minnesota came in third, followed by Florida’s own Tampa and Fort Lauderdale in fourth and fifth respectively. And out of the top 10, another Florida city, St. Petersburg came in eighth place.

A New Sanibel Opening & Another Condo Re-Opening

The Bel Bagels & Deli is opening soon at 359 Periwinkle Way (former location of East End Deli). I spotted their new signage when I was out on my travels yesterday.

Pelicans Roost at 605 Donax St has reopened and is accepting reservations with 20% discount between now and Dec 13. Their social media post said all units have new kitchens, baths, appliances, and furnishings, while updated community amenities include refurbished pool, boardwalk to beach, and BBQ grills.

As far as other complexes go, some continue to have huge construction crews on-site daily. Saw many yesterday at Coquina Beach, Sanibel Surfside, and Shell Island Beach Club. Also a big deliver of new landscaping material today at Sand Pebble.

By the looks, many complexes won’t be ready for the upcoming winter season, but when they are ready they certainly will be new and improved.

Sanibel & Captiva Islands Association of Realtors

The local Association of Realtors® did not meet this week, but next Thursday is our September membership meeting, followed by Caravan.

Monday, many members watched a webinar by Florida Realtors® (FR) Vice President pf Law and Policy and General Counsel, Juana Walkins on revisions to Florida’s residential contract for sale and purchase. She had another presentation this morning on “Changes to the Law for Flood Disclosure & Condos” which take effect Oct 1.

At SanibelSusan Realty

Between national and state changes in both real estate disclosure requirements and laws, this business has become a new world as far as paperwork is concerned. Rest assured that The SanibelSusan Team is up on it. As Florida Realtors® legal counsel says, “there’s a form for that” and we know when to use them.

Below with data from the islands MLS are summary tables of the residential sales statistics, followed by the Sanibel/Captiva MLS action reported this week.

Sanibel & Captiva Islands Multiple Listing Service Activity Sep 13-20:

Sanibel

CONDOS

3 new listings: Tennisplace #D31 1/1 $395K, Sundial #A303 1/1 $740K, Tamarind B201 2/2 $1.995M.

No price changes.

2 new sales: Sandalfoot #5C2 2/2 listed at $745K, Loggerhead Cay #212 2/2 listed at $875K.

No closed sales.

HOMES

3 new listings: 4775 Rue Helene 4/3 $1.695M, 746 Nerita St 4/2 $1.749M, 526 N Yachtsman Dr 3/2 $1.895M.

2 price changes: 1242 Par View Dr 3/2 now $999K, 1018 S Yachtsman Dr 3/3 now $1.1M.

3 new sales: 586 Boulder Dr 3/2 listed at $599K, 9448 Begonia Ct 3/2.5 listed at $1.05M, 3180 Twin Lakes Ln 3/3 listed at $1.095M.

3 closed sales: 2479 Blind Pass Ct 3/2 $850K, 3822 Coquina Dr 4/3.5 $942K, 1021 Sand Castle Rd 3/3 $1.29M.

LOTS

2 new listings: 2453 Wulfert Rd $525K, 842 Limpet Dr $2.595M.

No price changes, new or closed sales.

Captiva

CONDOS

No new listings.

1 price change: Lands End #1659 2/2 now $1.435M.

No new sales.

1 closed sale: Beach Homes #25 3/2 $2.075M.

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.