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Best Winter Weather & Great Opportunities for Buyers

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If there is one thing that remains terrific on Sanibel and Captiva Islands, it is the winter weather. Though occasional showers (like on Monday this week) are appreciated, it is the dry sunny 70+degree F days that make most beachgoers, bikers, and water enthusiasts happy.

Certainly, traffic is weather related, as many joked Monday that the forecast made it a breeze traveling both up and down Periwinkle, and on-/off-island. Once the sun came up Tuesday though, it was back to “season” fun with more patience required when traveling.

Both Finnemore’s Beach & Bike Rentals and Billy’s Rentals look to have more business as the shared-use paths often are busy. Being extra vigilant around those bikers is a must, as I recently heard a pal say, “You’ve gotta be careful as some of those riders haven’t been on a bike in 30 years and they are in unfamiliar surroundings.” That reminded me of other good things about the islands. It’s laid-back, where neighbors and visitors are kind and thankful.
 

Upcoming Events

Taste Of The Islands – is tomorrow Sat Mar 1 from 11 a.m. to 4 p.m. on the grounds of Sanibel City Hall. Parking is limited and attendees are encouraged to get tickets in advance ($10/each) at https://www.eventbrite.com/e/taste-of-the-islands-tickets-1027327884357

88th Annual Sanibel Shell Festival – is at The Community House from Thurs Mar 6 through Sat Mar 8 from 9 a.m. to 3 p.m.

Sanibel & Captiva Islands Association of Realtors

Yesterday, at the islands Association of Realtors weekly East-End Caravan Meeting, there were many empty seats and just a handful of announcements. Following the meeting, eight Sanibel homes and a condo were open for easy viewing. Traffic was brutal, however, with Periwinkle at a crawl at noon, for the 2nd day in a row. Hopefully some of those vehicles are carrying “buyers”.

A West-End Caravan is scheduled next Thurs.
Below, with data from the MLS are summary tables of the island residential sales statistics, followed by the details of the MLS action reported this week.

Though it is nice to see seven new island sales posted this week (three Sanibel condos, two Sanibel homes, and two Captiva condos), with 582 residential properties actively for sale (497 on Sanibel and 85 on Captiva), inventory is huge and continues to grow by the day.

There have been 47 price reductions posted since last Friday, some excellent values – many bests in years!

Even more surprising is that there was only one closed island sale posted since last Friday – a Sanibel condo for $310K. Usually the last day in February, particularly when it’s on a Friday, equates to many closings. So far, 2025 is not shaping up well, but the wonderful winter weather prevails!
May March1st bring more buyers!

SANIBEL

RESIDENTIAL

CONDOS

HOMES

LOTS

#

Avg Price

DOM

#

Avg Price

DOM

#

Avg Price

DOM

For sale:

170

981,750

117

289

1,768,046

96

38

911,507

266

Under contract

16

884,093

77

28

1,756,412

75

2

1,647,000

82

Sold to 2/28/25

10

828,166

174

20

1,468,930

63

0

N/A

N/A

Sold 2024

75

818,493

117

165

1,472,757

114

15

1,403,533

192

Sold 2023

98

955,261

65

263

1,267,390

73

24

920,645

76

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:

51

1,219,322

139

31

6,191,166

137

3

9,916,666

203

Under contract

2

1,797,000

537

1

6,250,000

40

0

N/A

N/A

Sold to 2/28/25

0

N/A

N/A

1

910,000

86

0

N/A

N/A

Sold 2024

13

1,728,846

185

8

4,887,187

182

0

N/A

N/A

Sold 2023

17

834,176

98

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 Feb 21-28

Sanibel

CONDOS

10 new listings: Signal Inn #10 1/1 $549K, Sanibel Moorings #212 1/1 $550K, Sanibel Shores #C1 1/1 $560K, Sanibel Shores #B2 1/1 $570K, Sanibel Shores #A2 2/2 $590K, Sanibel Moorings #232 2/2 $779K, Loggerhead Cay #303 2/2 $899K, Sandalfoot #1A2 2/2 $999K, Sundial #O201 3/2 $1.19M. Sanctuary Golf Village #2-PH6 3/3 $1.55M.

1 back-on-market: Loggerhead Cay #264 2/2 $899K.

9 price changes: Seashells #26 2/2 now $415K, Mariner Pointe #312 2/2 now $429K (SanibelSusan listing), Mariner Pointe #811 2/2 now $595K, Sanibel Moorings #1441 1/1 now $599K, Oceans Reach #2B2 1/1 now $699K, Oceans Reach #3X3 1/1 now $725K, Sand Pointe #238 2/2 now $765K, Loggerhead Cay #362 2/2 now $853K, Tamarind #B201 2/2 now $1.659M.

 

3 new sales: Sandalfoot #5B2 1/1 listed at $599K, Oceans Reach #4D1 2/2 listed at $850K, Sayana #203 2/2 listed at $895K.

1 closed sale: Captains Walk #A4 2/2 $310K.

HOMES

10 new listings: 1440 Sandpiper Cir 3/2.5 $725K, 4534 Bowen Bayou Rd 3/2 $989K, 554 East Rocks Dr 3/2 $989K, 2596 Roosevelt Pl 3/2 $1.1M, 1817 Long Point Ln 3/2 $1.579M, 821 Lindgren Blvd 3.3 $1.795M, 1828 Buckthorn Ln 4/4.5 $1.925M, 1672 Hibiscus Dr 4/4.5 $1.95M, 9113 Mockingbird Dr 3/3.5 $1.995M, 1680 Hibiscus Dr 3/3.5 $2.3M.

33 price changes: 586 Boulder Dr 3/2 now $539K, 220 Hurricane Ln 2/2 now $699K, 1657 Atlanta Plaza Dr 3/2 now $699K, 495 East Lake Rd 3/2 now $749K, 455 Peachtree Rd 2/2 now $775K, 1846 Farm Tr 3/2 now $790K, 5089 San-Cap Rd 3/2 now $798K, 1813 Long Point Ln 4/2.5 now $799K, 662 East Rocks Dr 3/2 now $799K, 589 Rabbit Rd 2/2 now $824K, 235 Palm Lake Dr 3/2 now $839K, 1615 Serenity Ln 3/2 now $845K, 887 Casa Ybel Rd (multi-family) 5/3 now $849K, 486 Lake Murex Cir 3/2 now $874K, 4546 Buck Key Rd 4/2 now $895K, 5869 Pine Tree Dr 3/2 now $899K, 9490 Peaceful Dr 3/3 now $949K, 1410 Albatross Rd 3/3 now $999,999; 1048 Fish Crow Rd 3/3 now $1,057,300; 1563 Sand Castle Rd 4/4.5 now $1.1M, 4639 Brainard Bayou Rd 3/2.5 now $1.155M, 673 East Rocks Dr 3/2 now $1.195M, 1270 Par View Dr 3/2 now $1.195M, 3711 Agate Ct 3/2.5 now $1.37M, 5753 Pine Tree Dr 3/4 now $1.495M, 4775 Rue Helene 4/3 now $1.555M, 526 N Yachtsman Dr 3/2 now $1.695M, 788 Birdie View Pt 3/3 now $1.749M, 4166 Dingman Dr 4/4 now $1.98M, 5435 Osprey Ct 4/3.5 now $2.149M, 4090 West Gulf Dr 5/3 now $2.4M, 1266 Par View Dr 4/4 now $2.495M, 5071 Joewood Dr 4/5.5.5 now $5.45M.

2 new sales: 209 Robinwood Cir 3/2 listed at $599K, 4352 West Gulf Dr 5/3.5 listed at $3.33M.

No closed sales.

LOTS

1 new listing: Gulf Pines Dr Lot 16 $674.5K.

1 price change: 3730 Coquina Dr now $480K.

No new or closed sales.

CAPTIVA

CONDOS

7 new listings: Tennis Villas #3233 2/2 $699K, Beach Villas #2217 1/1 $710K, Bayside Villas #320 3/3 $1.149M, Bayside Villas #4318 3/3 $1.149M, Beach Cottages #1423 2/2 $1.625M, Lands End Village #1645 2/2 $1.79M, Beach Homes #33 4/3 $4.35M.

3 price changes: Bayside Villas #4116 1/1 now $550K, Beach Homes #29 4/4 now $3.249M, Captiva Beach Villas #E 5/4.5 now $3.75M.

2 new sales: Gulf Beach Villas #2126 2/2 listed at $1.195M, Lands End Village #1650 3/3 listed at $2,399M.

No closed sales.

HOMES

No new listings.

1 price change: 16512 Captiva Dr 7/5.5 now $8.5M.

No now 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,
Susan Andrews, aka SanibelSusan

More Real Estate Sales This Week on Sanibel Island

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With Easter next weekend, “high season” on the islands is nearly over. Steady real estate sales were posted again this week making some Realtors® wonder what inventory will be left to sell through the summer. Yes, plenty of inventory remains in many complexes and subdivisions, but the in-demand water-view and near-beach homes are moving, as are large high-end condos.

Beach2

After a few news items below is a summary of the activity posted in the Sanibel and Captiva Multiple Listing Service this week. First a summary of the Sanibel sales activity this year, compared to 2014 and the current inventory.

Prospective sellers, usually those who bought in the “peak” (i.e. 2006), often ask how the market has rebounded as compared to when they purchased. Price-wise, the market is back to somewhere between 2004 and 2005 (when the market was rising) or about 2008 (as it was declining). In a nutshell, property values are coming back nicely. Volume-wise on Sanibel, the 73 condo, 128 home, and 21 lot sales posted this year are huge increases in units sold. That’s what has some Realtors® worried.

Captiva’s smaller inventory has not seen the same increased level of activity, but I bet it comes later in the year.

SANIBEL           CONDOS                       HOMES                            LOTS

                          No.   Price          DOM    No.   Price            DOM    No. Price         DOM

For sale             111  $729,019   364     139   $1,445,729   227     78   $476,635   765

Sales pending    32    $791,600   352      65     $903,405      195      12   $513,038   449

Sold & closed:

1/1-3/27/2015    41    $726,982    373       63     $904,342     309      9     $314,433   356

1/1-3/27/2014    32    $717,964    208       50     $771,469     299       6    $386,592   633

NOTE: Prices & DOM (days on market) are averages.

This representation is based, in whole, or in part, on data supplied by the Sanibel & Captiva Islands Association of Realtors® or its 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 general real estate activity in the community and does not imply that SanibelSusan Realty Associates is participating or participated in these transactions.

Upcoming Sanibel Capital Improvements Projects

Sanibelcityseal logoWith the on-site of “off-season”, at Sanibel’s Capital Improvements Review subcommittee meeting this week, several ongoing and upcoming projects were discussed and approved. Here are just three of the several that were mentioned in the “Island Sun” today:

  •  Lighthouse Beach restroom construction is under way.
  • Bowman’s Beach shared-use path project will install a pathway from San-Cap Road to the beach park. Expected completion just after July 4.
  • Two intersection improvements (Periwinkle Way/Casa Ybel Road and Tarpon Bay Road/Island Inn Road) are in the planning design phase. Construction to be completed by end of November.

Why Age 61 Is Important to Real Estate

realtor logoThis was posted on Realtor®Mag on-line last Saturday:

“By age 61, the majority of people feel free to choose where they most want to live, according to a new study by Merrill Lynch, “Home in Retirement: More Freedom, New Choices.” “Throughout most of people’s lives, where they live is determined by their responsibilities,” according to the report. “Most careers demand that people live within a reasonable commuting distance from where they and/or their spouse work. However, as people enter their 50s and 60s, they begin to cross what this study reveals to be the ‘Freedom Threshold.'” That’s the age when people say they can finally choose where they want to live, according to the survey of more than 3,600 retirees.

“Indeed, two-thirds of the retirees surveyed say they are now living in the best home of their lives. Most retirees move at least once during retirement. But surprisingly, only half choose to downsize into a smaller home. Three in ten of retirees decide to upsize into a larger home.  The top reason to upsize: They want to have a home that’s comfortable enough for family members to visit and stay with them, according to the survey. “Retirees often find their homes become places for family to come together and reconnect, particularly during holidays or summer vacations,” according to the report. Some choose to upsize so that family members can live with them too.

“Retirees say the ideal place allows spending time with others their own age yet they also seek to be around those of diverse ages. Compared to younger people, older Americans are far more likely to want diversity in age and generation among their communities and neighbors. As such, just 7% of retirees surveyed have opted to move into age-restricted retirement communities.”

NAR Takes the Global Stage at Cannes

globe7Posted in Broker Issues, Commercial Real Estate, by Wendy Cole on March 12, 2015, this article talks about how Realtors® are expanding into the international market. Cynthia Shelton, Florida Realtors® 2009 President, and others from Florida were in attendance.

“The improving U.S. economy and strengthening dollar provided a welcoming backdrop for the National Association of REALTORS®’ first foray to the major global real estate exposition known as MIPIM held this week in Cannes, Frances. More than 21,000 attendees from 93 countries have gathered to explore global investment opportunities at the trade show.

“The eye-catching 1,200 square-foot NAR-U.S. Pavilion highlighted the association’s commitment to global commercial interests while raising awareness about top markets for foreign investment in the United States. The pavilion showcased three robust U.S. markets that are internationally-recognized for their success in attracting foreign investment: Miami, Chicago, and Birmingham, AL. “There are quite a lot of connections to be made here at MIPIM,” said NAR Treasurer Mike McGrew, who is part of NAR’s delegation at the show.

“Attendee Cynthia Shelton, a commercial practitioner with Colliers International from Orlando, FL and current  Committee Liaison to the NAR Leadership Team was energized about the NAR’s presence at the show. “This is going to make the U.S.A. the place to be, to invest in even more than it is now,” she said, in an interview from a MIPIM broadcast on YouTube. “REALTORS® represent the boots on the ground. We’re hoping to bring more investors to the U.S. to invest in things like office buildings, residential developments, and retail.  When investments happen, cities give credits, get more taxes, and allow us to develop better projects which helps our schools and employers.”

“The wide range of countries at the show— from Belgium to Brazil— is generating considerable buzz. “Governments have invested large sums to attract attention from buyers, developers, and interested parties,” said Christopher Zoller, CRS, and 2015 residential president of the Miami Association of REALTORS®. “We are getting lots of inquiries here from people looking for investors or investments, developers or developments, small personal purchases or large scale opportunities. It is exciting to see the global scale of real estate excitement.”… NAR’s presence at the show has broadened awareness of the role of REALTORS® in commercial and global real estate. Approximately 70,000 NAR members offer commercial brokerage and related services. An additional 283,000 members are involved in a combination of residential and commercial work.”

Foreclosure Rates Near a ‘Significant Milestone’

RealtyTracLogo_166x32Realtor®Mag on-line Tuesday posted this article which is sourced to “RealtyTrac”. Florida continues to have a significant number of foreclosures, but has seen a 35% decrease since last year.

“Foreclosures continue to fall across the country and the return to normal levels may be on the horizon for many places, according to a new report. Foreclosure filings fell 4% in February, reaching the lowest level since July 2006, according to RealtyTrac’s U.S. Foreclosure Market Report. Foreclosure filings reflect the number of default notices, scheduled auctions, and bank repossessions. The U.S. foreclosure rate now stands at one in every 1,295 homes that received a foreclosure filing in February.

“”Given that August 2006 was the peak of the housing bubble, this eight-and-a-half year low in foreclosure activity is a significant milestone and a sign that nationwide foreclosure activity is on track to return to historic norms this year — and is possibly even headed below historic norms given the skinny-jeans-tight lending standards over the past five years,” says Daren Blomquist, vice president at RealtyTrac. “In markets where foreclosures were processed more efficiently we are seeing foreclosure numbers now below pre-crisis levels in some cases. Conversely, the cleanup of deferred distress is continuing in markets where a logjam of in-limbo foreclosures is still lingering from the housing crisis — as evidenced by rebounding foreclosure activity in those markets.”

“24 states posted year-over-year increases in foreclosure activity. Activity was most elevated in Massachusetts (up 53% year-over-year) and New York, up 19%.

“The following states posted the nation’s highest foreclosure rates:

  1. Maryland: 1 in every 564 housing units received a foreclosure filing in February (foreclosure activity has fallen 1 percent compared to a year ago there, however)
  2. Nevada: 1 in every 569 homes received a foreclosure filing (a 12% rise from a year ago mostly from a rise in foreclosure starts)
  3. Florida: 1 in every 570 housing units (despite a 35% decrease in foreclosure activity compared to a year ago)
  4. Indiana: 1 in every 871 housing units
  5. Idaho: 1 in every 877 housing units
  6. New Jersey: 1 in every 895 housing units
  7. Illinois: 1 in every 906 housing units
  8. Delaware: 1 in every 957 housing units
  9. Ohio: 1 in every 1,000 housing units
  10. North Carolina: 1 in every 1,088 housing units”

Sanibel & Captiva Multiple Listing Service Activity Mar 20-27 

Sanibel

CONDOS

6 new listings: Dugger’s Tropical Cottages #2 1/1 $329K, Sundial #C207 1/1 $429K, Seawind #A106 2/2.5 $479K, Mariner Pointe #842 2/2 $499K (our listing), Sanibel Arms #F2 1/1 $639K, Sundial #K102 2/2 $839K.

(A few photos from Mariner Pointe below. 1st one is the view toward bay from #842, 2nd one is the view toward the canal. Others are some of the water-front amenities. There is a 2nd pool, on-site manager, & deeded beach access too.)

1 price change: Tigua Cay #489 3/3.5 now $2.495M.

7 new sales: Sunset South #9D 2/2 listed for $399K, Sanibel Moorings #1622 2/2 listed for $439K, Lighthouse Point #132 2/2 listed for $497K, Sanibel Siesta #308 2/2 listed for $500K, Sealoft Village #105 2/2 listed for $529K, Blind Pass #G105 3/3 listed for $769K, Sanibel Surfside #211 2/2 listed for $798K.

5 closed sales: Donax Village #8 2/2 $449K, Loggerhead Cay #411 2/2 $475K, Sanibel Arms West #B5 2/2 $492K, Lighthouse Point #215 3/2 $522.5K, Atrium #204 2/2 $1.3M.

HOMES

4 new listings: 3364 Twin Lakes Ln 3/2 $819K, 5402 Osprey Ct 4/3 $985K, 1245 Isabel Dr 3/3.5 $1.749M, 5125 Joewood Dr 3/3 $3.195M.

8 price changes: 3724 Agate Ct 2/2 now $549K, 9012 Mockingbird Dr 3/2 now $599K, 1409 Causey Ct 3/3 now $599K, 4648 Buck Key Rd 3/2 now $679K, 1173 Kittiwake Cir 4/2 now $699.9K, 428 Bella Vista Way E 4/4 now $1.695M, 6017/6019 Clam Bayou Ln 4/3 now $1.775M, 5615 Baltusrol Ct 4/4/3 now $4.25M.

13 new sales: 1452 Sandpiper Cir 2/2 half-duplex listed for $330K, 744 Martha’s Ln 2/2 listed for $479K (our listing), 1825 Ardsley Way 3/2 listed for $515K, 475 Sea Walk Ct 3/2 lissted for $524.9K, 9446 Beverly Ln 3/3.5 listed for $595K (short sale), 1228 Anhinga Ln 3/2 listed for $598.5K, 963 Sand Castle Rd 3/2 listed for $599.9K, 1586 Century Ct 3/2.5 listed for $629K, 543 Chert Ct 3/2 listed for $639K, 547 Chert Ct 3/2.5 listed for $695K, 603 N Yachtsman Dr 3/2 listed for $670K, 3968 Coquina Dr 3/2 listed for $699K, 1173 Kittiwake Cir 4/2 listed for $699.9K, 5402 Osprey Ct 4/3 listed for $985K, 2980 Wulfert Rd 4/6.5 listed for $2.995M.

9 closed sales: 317 East Gulf Dr 2/2 half-duplex $415K, 315 East Gulf Dr 3/2 half-duplex $425K, 1294 Sand Castle Rd 3/2 $480K, 590 Lake Murex Cir 2/1.5 $635K, 297 Ferry Landing Dr 3/3 $1.2M, 600 N Yachtsman Dr 3/2.5 $1.275M, 960 Whelk Dr 3/3 $1.83M, 4204 Dingman Dr 5/4.5 $1.85M, 461 Lighthouse Way 4/4 $1.995M.

LOTS

No new listings.

1 price change: 1310 Par View Dr now $369,555.

1 new sale: 6419 Pine Ave listed for $799K.

1 closed sale: 2380 Wulfert Rd $190K.

Captiva

CONDOS

2 new listings: Bayside Villas #5106 1/2 $289K, Marina Villas #902 2/2 $650K.

No price changes.

1 new sale: Lands End Village #1606 3/3 listed for $1.85M.

2 closed sales: Lands End Village #1610 3/3 $1.785M, Lands End Village #1606 3/3/3 $2M.

HOMES

1 new listing: 15843 Captiva Dr 3/3 $6.45M.

3 price changes: 16785 Captiva Dr 4/3.5 now $1.55M, 11523 Wightman Ln 4/4 now $1.999M, 16910 Captiva Dr 4/4 now $4.72M.

No new sales.

3 closed sales: 16585 Captiva Dr 5/4/2 $2.5M, 15747 Captiva Dr 6/6.5 $5.575M, 17020 Captiva Dr 7/8/2 $5.9M.

LOTS

No new listings.

1 price change: 856 S Seas Plantation Rd now $2.48M.

No new or closed sales.

This representation is based, in whole, or in part, on data supplied by the Sanibel & Captiva Islands Association of Realtors® or its 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 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, best wishes for a great weekend! Susan Andrews/aka SanibelSusan

Spring

Sanibel Island Real Estate Is Moving, Traffic Not So Much

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It is hard to believe that more people are expected to be on the islands next week for the President’s Day holiday. Suffice it to say, that Sanibel is busier now than The SanibelSusan Team ever remembers it and we are trying to “nicely” share with the many vacationers, snowbirds, and owners here enjoying it too.

No one seems to mind that the daily temperatures this week have, for the most part, only been in the mid-60’s. Bikers in their shorts and tee-shirts continue to fly by our office on the bike path, while we locals have rare chances to wear sweaters and jackets. Here are a few photos taken by our client/friend Ellie Hayward and others during some of the recent breezy days when the shelling has been amazing.

SanibelSusan had lunch this week with VIP’s Vacation Rentals Manager, and he said they do not have a single accommodation left that is available between now and Easter. Other companies and accommodations likewise report 100% occupancy. That is great news for the local economy, but tough traveling for us trying to keep showing appointments on schedule.

We also heard this week that the “Sports Illustrated” annual swim suit edition has hit the streets with some of the photos taken on the islands. Do suppose that could bring even more traffic to Southwest Florida?

SCCF 2015 Life Member/Benefactor Luncheon

SCCF logoTuesday, we attended SCCF’s 2015 Life Member/Benefactor Luncheon which concluded with a terrific presentation by Director Eric Lindblad on current and future conservation plans. This organization does so much for the islands, we should all be strong supporters.

Eric advised that thanks to cooperation with Tarpon Bay Explorers, SCCF in early April will begin construction of a new marine lab on the grounds of Tarpon Bay, facing the water, in the location of the former concession stand.

SCCF work at rehabbing and reconfiguring The Bailey Homestead continues with preliminary plans in-the-works for eventually moving the Native Plant Nursery there. It has already increased usage of the connected paths that now go from the Chamber of Commerce through the Shipley Trail to Pond Apple Park and City Park via the Starr D. Thomas Boardwalk. A colleague recently saw an eagle there. Here’s a link to the trails: http://www.sccf.org/content/86/SCCF-Walking-Trails.aspx

Other Island Happenings

rotary logoThe Sanibel-Captiva Rotary Club’s 32nd Arts & Crafts Fair is tomorrow and Sunday at the Community House across the street from SanibelSusan Realty. From 10 a.m. to 5 p.m. tomorrow, and 10 a.m. to 4 p.m. on Sunday, they expect to have 7,000 attendees.

I’ll be at the office then, hoping they want to buy real estate to go with their other purchases. Here’s a link to the fair website: http://www.sanibelartfair.com/visiting-the-fair/

Happenings at SanibelSusan Realty

SANSLogoNext week again will be busy. We have some Open Houses planned and have a big (over 6,000-piece) bulk mailing going out. It’s our annual inventory lists for owners of all of the property for sale on the islands, plus for comparison, recent sales.

If you would like a copy too, just give us a call (888-603-0603 or 239-472-HOME (4663)) or send us an email (Susan@SanibelSusan.com).

Below after a few more news items is the action posted in the Sanibel & Captiva Islands Multiple Listing Service since last Friday.

Vacation Home Tax Deductions

taxesTax time is here and though it is best to consult your tax advisor, here is a handy summary that was posted on-line by HouseLogic and reprinted in NAR’s “Real Estate News” on Monday.

“The rules on tax deductions for vacation homes are complicated. Do yourself a favor and keep good records about how and when you use your vacation home.

  • If you’re the only one using your vacation home (you don’t rent it out for more than 14 days a year), you deduct mortgage interest and real estate taxes on Schedule A.
  • Rent your vacation home out for more than 14 days and use it yourself fewer than 15 days (or 10% of total rental days, whichever is greater), and it’s treated like a rental property. Your expenses are deducted on Schedule E.
  • Rent your home for part of the year and use it yourself for more than the greater of 14 days or 10% of the days you rent it and you have to keep track of income, expenses, and allocate them based on how often you used and how often you rented the house.”

Read more about home tax deductions at http://www.houselogic.com/home-advice/tax-deductions/home-tax-deductions/#ixzz3RRnJm200

‘Domino Effect’ to Set Off 2015 Housing Wave

clear capital logoInteresting concept recently described in the “Daily Real Estate News”, sourced to a Clear Capital report of February 2, 2015 titled “Traditional Home Buyers, Make Your Move”:

“Home prices between the top and bottom segments of the housing market are rising, which could unleash a “domino effect” that builds first-time and move-up buyer momentum this year, notes a new real estate report by Clear Capital. But the build-up in traditional home buyers is coming at the cost of declines in the luxury home market.

“”The rate of appreciation for top tier homes is stalling, which is a more direct reflection of waning fair market demand,” says Alex Villacorta, vice president of research and analytics at Clear Capital. “While this is a concerning development, there is a silver lining. The moderating upper tier may give traditional buyers a moment to catch their breath, and entice move-up buyers to enter this segment of the market. The ripple effect of opening up inventory all the way down the price spectrum could provide opportunity and motivation across all segments, including first-time buyers, to enter the marketplace.”

“The lower and middle-range ends of the housing market is stabilizing, allowing traditional home buyers to re-emerge. “The next phase of the housing recovery is dependent on healthy demand from this segment,” Villacorta says.

“The lower-end of the housing market was once driven mostly by investor activity, but now doors are opening for first-time home buyers to break in.  Also, as the number of underwater mortgages steadily decreases, home owners in the mid-tier of the home pricing segment can finally trade up to a larger, more expensive home.

Lower-end properties have been outpacing price growth in the luxury market, Clear Capital reports. The low-tier has posted double-digit gains year-over-year of 10.2%, compared to the top tier, which saw the lowest price growth rate among the three tiers, at 3.6% year-over-year.

““This divide between a healthy low tier and stalling top tier could kick-off a domino effect,” Clear Capital notes in its report. “Stalling prices in the top tier of the market could create the perception of a good deal. This instills confidence in mid-tier home owners, motivating them to move-up to the top tier. In turn, this opens up more opportunity for low tier home owners to move-up to the mid-tier. … This domino effect could be the catalyst for balanced demand across all sectors of the market.

“The Midwest is leading the pack, according to Clear Capital. The Midwest posted double-digit gains in the low-tier segment at 13.6 percent, while seeing its top-tier of the market fall 3.3% with prices. The Midwest is the only region currently seeing price appreciation in the low and mid tiers, growing above 1%. As such, Clear Capital economists are predicting the Midwest to be the first region in U.S. to realize full buyer momentum among first-time and move-up buyers, due to its moderating top tier.”

“Bleu Rendezvous” Coming to Sanibel

Bue windowsMany islanders call it a “road trip” when we venture off island for dinner. A favorite spot for that since discovering it a few years ago is Blue Windows French Bistro in South Fort Myers which is a small classic French restaurant. Though tiny and only visited occasionally, I always see other islanders there enjoying it too, so it is great news that Christian and Mari Vivet are planning to open a second restaurant, Bleu Rendezvous, on Sanibel in May. It will be in the space of the former Sangria Grill at 2430 Periwinkle Way just up the street from our office.

According to a posting in the “News-Press” this week, “The Vivets, who usually close Blue Windows during the summer, plan to keep both restaurants open throughout this year. Christian hinted they might have other plans for the south Fort Myers store, but said it was too early to disclose anything. As for Blue Rendezvous’ menu, fans of Blue Windows won’t be disappointed. “We’re taking exactly what we’re doing here and doing the exact same thing there, even the same wine list at this point,” Christian said. “It’s worked for us so well, we didn’t see any reason to change it.”

“Blue Windows serves dinner Monday to Saturday at 15250 S. Tamiami Trail, south Fort Myers. Call 849-0622 or visit mybluewindows.com for more info.”

Sanibel & Captiva Multiple Listing Service Activity Feb 6-13 

Sanibel

CONDOS

6 new listings: Sundial #C306 1/1 $329K, Sundial #D312 1/1 $349K, Donax Village #8 2/2 $449K, Lighthouse Point #231 2/2 $670K, Sundial #F201 2/2 $829K, Tigua Cay #489 3/3.5 $2.595M.

6 price changes: Captains Walk #A2 1/1 now $239.9K, Sanibel Siesta #105 2/2 now $424.5K, Loggerhead Cay #411 2/2 now $490K, Sanibel Arms #E8 2/2 now $499.9K, Sanibel Surfside #211 2/2 now $798K, Sundial #Q205 3/2 now $825K.

3 new sales: Seashells #15 2/2 listed for $324.9K, Sanibel Arms West #G5 2/2 listed for $525K, Kings Crown #317 2/2 listed for $940K.

4 closed sales: Loggerhead Cay #453 2/2 $439K, Sand Pointe #235 2/2 $665K, Island Beach Club #330E 2/2 $783K, Wedgewood #204 3/3.5 $2.0625M.

HOMES

7 new listings: 2220 Camino Del Mar 3/3 $699K, 1710 Sand Pebble Way 3/2 $769K, 3840 West Gulf Dr 3/2.5 $849K, 401 Lagoon Dr 4/4 $ 875K, 4620 Rue Bayou 3/2 $979K, 1314 Par View Dr 4/3 $1.1M, 757 Windlass Way 3/2.5 $1.149M.

7 price changes: 1938 Roseate Ln 3/2 now $329K, 1211 Periwinkle Way 3/2 now $530K, 420 East Gulf Dr 3/3 now $725K, 4037 Coquina Dr 3/3 now $799K, 1351 Middle Gulf Dr #1A 3/3 now $939K, 6015 Clam Bayou Ln 4/3.5 now $2.249M, 696 Kinzie Island Ct 4/5 now $2.359M.

13 new sales: 240 Southwinds Dr 3/2 listed for $549K, 1075 Blue Heron Dr 3/2 listed for $629K, 497 Lake Murex Cir 4/3 listed for $715K, 732 Durion Ct 3/2 listed for $719.9K, 8999 Mockingbird Dr 3/2 listed for $775K, 3840 West Gulf Dr 3/2.5 listed for $849K, 1287 Par View Dr 3/2 listed for $89.5K, 566 N Yachtsman Dr 3/2 listed for $939K, 857 Birdie View Dr 3/2.5 listed for $995K, 630 Periwinkle Way 4/3 listed for $999.9K, 297 Ferry Landing Dr 3/3 listed for $1.295M, 1309 Seaspray Ln 5/5 listed for $1.898M.

2 closed sales: 490 Christine Rd 2/2 $534K, 1748 Jewel Box Dr 4/4 $1.058M.

LOTS

No new listings.

7 price changes: 0 Bowmans Beach Rd now $125K, 9239 Dimmick Dr now $139K, 9277 Belding Dr now $179.9K, 2324 Starfish Ln now $449K, 1242 Anhinga Ln now $525K, 1770 Dixie Beach Blvd now $699K, 4334 West Gulf Dr now $899K.

No new or closed sales.

Captiva

CONDOS

2 new listings: Bayside Villas #5222 1/2 $322K, Sunset Beach Villas #2418 2/2 $650K.

1 price change: Sunset Beach Villas #2337 2/2 now $674.9K.

2 new sales: Captiva Shores #5C 2/2 listed for $898K, Captiva Bay Villas #C 3/3.5 listed for $2.395M.

1 closed sale: Marina Villas #603 2/2 $585K.

HOMES

1 new listing: 11520 Murmond Ln 5/5.5 $2.075M.

No price changes, new or closed sales.

LOTS

Nothing to report.

This representation is based, in whole, or in part, on data supplied by the Sanibel & Captiva Islands Association of Realtors® or its 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 general real estate activity in the community and does not imply that SanibelSusan Realty Associates is participating or participated in these transactions.

valentineUntil next Friday, best wishes for a great Valentines Day.

P.S. There’s no gift like a property in paradise for the one you love. SanibelSusan is working all day tomorrow for your last minute gift shopping!

A Week of Glorious Sanibel Sunsets

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I drove my Facebook friends crazy this week posting photos of our beautiful Sanibel sunsets. It’s so nice to once again have a few clouds in the sky in the evening. They make for fabulous color.  Also fun to see folks relaxing on the Sanibel causeway beach waiting for the nightly sunset celebrations. Life doesn’t get any better than that.

After hearing a few reports of snow flurries in New England today, I promise not to also mention that island weather is expected to remain perfect through the weekend with blue skies and daily temperatures in the 80’s. We are keeping an eye on the weather channels, following Tropical Storm Richard, to be sure we have no surprises next week. There was a little more traffic on the island this week plus a noticeable increase in people at grocery stores, shops, and restaurants.
 
Below please find a weekly sampling of real estate news, followed by the Sanibel MLS activity since last Friday. Starting this week,  the Captiva Island activity is shown too. Though that market is still sluggish, it’s good to compare action on the sister islands.

Economic Growth

Good summary of the modest growth of the nation’s economy in “USA TODAY” yesterday. Article said that nine of 12 districts expanded according to a Federal Reserve report released Wednesday. “The economic picture was mixed in the Cleveland and Richmond areas, and it weakened in the Atlanta region. On the bright side, auto sales and travel and tourism perked up, and lackluster lending markets improved slightly, according to the Fed’s beige book, named for the color of its cover. Overall, the survey portrayed an economy that continued to plod along in September and early October – after expanding fairly robustly early this year – as many nervous businesses put off capital investment and hiring. “On balance, national economic activity continued to rise, albeit at a modest pace,” it stated. Manufacturing and retail sales were up moderately, while housing and commercial real estate were still in the doldrums. The job market remained listless. Still, the report, which provides a ground-level snapshot of every region in the country, amounted to an improvement on the Fed’s July-August survey, which showed “widespread signs of deceleration.” Economists said the latest report did nothing to dampen speculation that the Fed will launch a new round of government bond purchases at its November 3 meeting to lower long-term interest rates and spark the economy.”

No More Bay Docks

In an about-face, this week, Sanibel City Council stood firm on the environment and voted to protect sea-grass by upholding the 17-year-old ban on new bay-front docks. Last April, Council directed the Planning Commission to come up with an ordinance that would lift the dock ban, but after months of debate, Planning Commissioners were divided on the issue. If the ban had been lifted up to 59 new docks could be constructed between Woodring Point and the Sanibel Lighthouse.

American Bald Eagles

Just had to borrow this tidbit reported in the “Island Sun” today. “Sanibel’s east-end pair of nesting eagles regularly fish in The Dunes golf course lakes and one was spotted walking the lake edge of Hole #3. Three pair of eagles nest on Sanibel from October through May. Seventy-eight eagles nested in Lee County in 2009. The adult male and female bald eagles have white heads by age five and can live 28 years in the wild. Join the conservation foundation (SCCF) for a wildlife tour by golf cart next Wednesday, October 27, followed by dinner at the clubhouse. SCCF preserved lands are adjacent to much of the course, making for good wildlife viewing, including alligators. Call The Dunes for reservations at 472-3355.”

Upcoming Events

  • Sunday, October 24, 25th Annual Bailey Fest at the shopping center, 1 to 4 p.m. (BIG ARTS Chorus 1st up singing)
  • Friday, October 29, Island Paws Annual Howl-o-Ween Party, 5 to 7 p.m., annual pet costume contest judging 6:30 p.m.
  • Sunday, October 31, Family Fall Carnival, Sanibel Community House, 5 to 7 p.m.
  • Sunday, November 21, CROW 29th Annual Taste of the Islands, Sanibel Community Park (across the street from our office) noon to 5 p.m.  (22 restaurants have already signed up)
  • Also Sunday, November 21, annual Thanksgiving Celebration, Sanibel Community House, 7 p.m.

Sanibel MLS Activity

CONDOS
10 new listings:  Captains Walk #F7 2/1.5 $259K, Sundial #F408 1/1 $349K, Compass Point #243 2/2 $510K, Sundial #B206 2/2 $585K, Sandpiper Beach #401 2/2 $649.5K, Loggerhead Cay #401 2/2 $669K, Sundial #E201 2/2 $899K, Sundial #R206 2/2 $999K, Beachcomber #D101 3/3 $1.795M.
8 price changes:  Sanibel Arms #H2 1/1 now $299K, Sanibel Arms #D6 1/1 now $309K, Sanibel Arms #D8 2/2 now $435K, Seawind #109 2/2 now $489.5K, Tarpon Beach #110 2/2 now $709K, Sundial #D101 3/2 now $799K, Signal Inn #13 4/3 now $948.9K, High Tide #A101 2/2 now $1.549M.
3 new sales:  with contingencies:  Cottage Colony West #139 1/1 listed for $549K, Mariner Pointe #232 2/2 listed for $599K, Heron at The Sanctuary II #3A 3/2.5 listed for $649K. 
1 closed sale:  Compass Point #143 2/2 $842K.
 
HOMES
6 new listings:  490 Elizabeth Rd 2/2 $447.5K, 9203 Dimmick Rd 4/2 $749K, 1035 S Yachtsman Dr 5/4.5 $849K, 5240 Caloosa End Ln 3/3 $1.049M, 6090 Dinkins Lake Rd 3/3.5 $1.139M, 1765 Venus Dr 3/3 $1.9M. 
6 price changes:  1562 Serenity Ln 5/3 now $450K, 1417 Causey Ct 3/2 now $575K, 1316 Eagle Run Dr 4/3 now $970K, 600 N Yachtsman Dr 3/2.5 now $1.264M (short sale), 784 Birdie View Pt 4/4 now $1.795M, 1950 Woodring Rd 4/3.5 now $3.1M.
2 new sales:  with contingencies:  3965 Coquina Dr 2/2 listed for $389K, 658 Donax St 3/2 listed for $469K (short sale).
1 closed sale:  978 Oyster Ct 4/3 $900K.
 
LOTS
3 new listings:  9239 Dimmick Dr $185K, 5132 Sea Bell Rd $225K, 9056 Mockingbird Dr $349K.
3 price changes:  564 Hideaway Ct now $245.9K, 3324 Saint Kilda Rd now $294K, 1114 Seagrape Ln now $611,550.
No new or closed sales.
 

Captiva MLS Activity

CONDOS
No new listings, price changes, or closings.
2 new sales:  Sunset Beach Villas #2314 2/2 listed for $569K, Lands End Village #1602 3/3 listed for $1.499M.
 
HOMES
2 new listings:  56 Sandpiper Ct 2/2.5 $849K, 16185 Captiva Dr 4/4 $1.699M.
1 price change:  16778 Captiva Dr 4/3 now $4.995M.
No new sales or closings.
 
LOTS
No action this week.
 
(This representation is based in whole or in part on data supplied by the Sanibel & Captiva Islands Association of Realtors or its 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.)
 

 ’til next Friday, happy sunsets to all.