Category Archives: Homes

Sanibel & Captiva Islands Mid-September Real Estate Update

Posted on by
Reply

At the Fulgur Street beach access looking east 09-14-12

It has been another fairly quiet week on the islands, but plenty of pre-season work is evident everywhere.

New elevator at Sanibel Siesta 09-14-12

I heard the first reports yesterday of business picking up with winter vacation rentals. That activity usually means temperatures are dropping up north and folks are starting to plan their winter getaways.

At the Fulgar St beach access looking west over a turtle nesting area 09-14-12

At the Fulgur St beach access looking west over a turtle nesting area 09-14-12

The first snow bird returned on my street this week too. Those who homestead most likely will be back early, to vote.

Just a handful of sales and new listings were announced at our Realtor Caravan Meeting yesterday, but attendance was up – another indicator that “season” is just around the corner. Elise’s report below the MLS activity this week. Lisa and Dave were out previewing new inventory yesterday and I am working on the class I will be teaching at the Association Office next week on the Resort and 2nd-Home Market as part of the Sanibel & Captiva Islands Specialist Designation. Quite a few Realtors®, including some well-experienced ones, are signed up so I am digging deep. Should be fun!

Another Sign That Home Prices Have Hit Bottom

This article from “Daily Real Estate News” this week was sourced to “The Wall Street Journal”: “Economists are increasingly confident that home prices have bottomed out. 

“For the last three years, home prices have usually risen in the spring and summer to only then lose all of those increases—plus more—in the fall and winter months. However, economists expect this year to be different and do not foresee such a big drop to occur to home prices in the colder months ahead, The Wall Street Journal reports. While the fall months likely will bring out some sort of decrease in recent home price increases, “we have a much better supply and demand dynamic” than in previous years, Mark Fleming, CoreLogic’s chief economist, told The Wall Street Journal. Home prices have posted some of their largest year-over-year jumps compared to the last six years. 

“According to CoreLogic, home prices have risen 9.6% from February, which was the month prices reached their lowest levels since the housing slowdown. Economists say it’s unlikely that, given recent indicators, home prices will reverse course steeply and fall 9.6% or even more in the coming months. Home prices haven’t dropped by that type of percentage since the economy was in a recession.”

Americans Keep Feeling Better About Housing

An article posted on Florida Realtors® on Tuesday says: “Consumer sentiment regarding the housing market continues its modestly positive trend, according to Fannie Mae’s August 2012 National Housing Survey.

“Americans maintained a cautious but improving outlook on the housing market and homeownership. In August, more people said it’s a good time to sell, and more expect housing prices to rise over the next year. However, Fannie Mae says stalling household financial expectations and declining economic optimism likely mean the housing market recovery rate will remain tempered. “Consumer attitudes toward the housing market remain modestly positive, despite signs of increased concern over the direction of the economy,” says Doug Duncan, senior vice president and chief economist of Fannie Mae.

“Survey respondents expect home prices to increase 1.6% in the next year, on average, down slightly from the high of 2.0% in June. The number of respondents who expect home prices to decline totaled 11% – the lowest level since the survey began in June 2010. Eighteen percent say it’s a good time to sell, marking the highest level since the survey’s inception. Regarding mortgage rates, 40% expect a rise in the next 12 months, an increase of 4% points over July.

“Meanwhile, the survey showed increasing consumer pessimism about the direction of the overall economy. The number of respondents who believe the economy is headed in the wrong direction ticked up 2% points to 60%, the third consecutive rise and the highest reading since January. Those who expect their financial situation to worsen dipped to 13%, while those expecting their situation to remain the same increased modestly to 41%.”

Upcoming Island Events

Sept 15 – Tomorrow is the 27th Annual Coastal Cleanup “Keep Lee County Beautiful”. Be at the SCCF (Sanibel-Captiva Conservation Foundation) Nature Center at 3333 Sanibel-Captiva Road at 9 a.m. to participate.

Oct 3 – Bailey-Matthews Shell Museum’s 3rd Annual Celebrity Island Dinner at Trader’s Cafe & Store.

Oct 6 – Annual Blue Ribbon Golf Classic fundraiser for The Sanibel School at The Sanctuary Golf Club. The Sanibel School has earned the Blue Ribbon Designation, as well as an “A” rating, for the past 11 years.

Oct 13 – FISH (Friends in Service of Sanibel) have announced open registration for the 4th annual 10K Race 4 FISH to take place on Saturday, October 13. The event is a major fundraiser for FISH with more than 400 runners are expected this year. www.fishofsanibel.com/fish-10k

Oct 15-Dec 1 – BIG ARTS World of Fashion Exhibit www.BIGARTS.org

Sanibel City Budget

Last Saturday, Sanibel City Council worked at a special session to further reduce a budget that is almost $10M less than last year’s and about $19M less than was actually spent. City taxes account for about 16% of a property owner’s total tax bill.

A few highlights of the tentative budget according to the “Island Sun” include:

  • ·       “Proposed millage of 2.1398 is 53% less than the rolled-back rate.
  • ·       “City salaries remain flat for the 5th consecutive year.
  • ·       “Full-time employees reduced from 142 in 2007 to 114 in FY13.”

2012 TRIM Notices

Today is the last day to appeal Lee County 2012 tax assessments. They are available on-line at www.leepa.org.

 
Sanibel and Captiva Multiple Listing Service Activity September 7-14

 
Sanibel
CONDOS
4 new listings:  Island Beach Club #P1E 2/2 $649K, Coquina Beach #2E 2/2 $675K, Sandpiper Beach #404 2/2 $695K, Pointe Santo #B25 2/2 $785K.

The Colony Resort aka Colonnades

1 price change:  Colonnades #47 1/1 now $130K (our listing).

 

Pointe Santo C43 view

4 new sales: Blind Pass #B102 2/2 listed for $359K, Sanibel Arms West #K3 2/2 listed for $399K, Loggerhead Cay #232 2/2 listed for $498.7K, Pointe Santo #C43 3/2 listed for $949K (our buyer).


1 closed sale:  Sundial #G107 1/1 $215K.

HOMES
1 new listing:  3344 Twin Lakes Ln 3/2 $629,977.
6 price changes:  1121 Skiff Pl 3/2 now $589K; 445 East Gulf Dr 3/2 now $609K; 2540 Coconut Dr 4/3.5 now $772K; 6001 Clam Bayou Ln 3/2 now $875K; 848 Limpet Dr 3/2.5 now $1,199,999; 2899 Wulfert Rd 4/4/2 now $2.898M. 
5 new sales: 1647 Sand Castle Rd 3/2.5 half-duplex listed for $325K, 1000 Greenwood Ct 3/2.5 half-duplex listed for $347.5K, 1211 Periwinkle Way 3/2 listed for $349.9K, 1753 Bunting Ln 3/2 listed for $479.8K, 3825 West Gulf Dr 3/2 listed for $2.35M.
3 closed sales:  731 Nerita St 3/2 $475K, 1232 Isabel Dr 3/3 $1.85M, 615 Lighthouse Way 3/4.5 $2.1M.

 
LOTS
1 new listing:  3761 Coquina Dr $350K.
No price changes, new or closed sales.
 
Captiva
CONDOS
Nothing to report.

HOMES
No new listings.
1 price change:  17201 Captiva Dr 4/5.5 now $4.1M.
1 new sale: 11516 Andy Rosse Ln 5/5 listed for $1.999M.
1 closed sale:  53 Sandpiper Ct 2/2.5 $590K.

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 the general real estate activity in the community and does not imply that SanibelSusan Realty Associates is participating or participated in these transactions.  If your property currently is listed with another broker, this is not intended as a solicitation of that listing. 

A Summer-Like September On Sanibel & Captiva Islands

Posted on by
Reply

It has been another quiet week on the islands – good weather but not many visitors and vacationers. Our local bird life is having fun though.

East End Happenings

Below is a photo taken as I was heading to work one morning. This Norfolk pine near the end of Anchor Drive is also very close to an osprey nest that I also check out every morning. I haven’t seen any activity in the nest for a few weeks.

Surprisingly on this tall tall tree, I saw a white ibis alight near the very top, followed by three juveniles. Appeared to be a mama taking her young ones on a flying lesson.

The young ibis have brown feathers, while the adult looked more like the photo to the left.

Two babies landed near mama on the top, while the third was a few branches below. I have seen a similar family several times in the last few days snacking in my yard. Made me wonder if they are the same birds.

West End Happenings

Here is another snapshot I captured this week. If you remember me remarking in an earlier post, after Tropical Storm Debbie passed us by earlier this summer, that a huge tree at the West Wind Inn was uprooted in that storm, here is what that spot looks like now. The tree could not be saved, but in its place the West Wind added this charming tropical garden. It will be fun to watch it grow and develop – it’s already beautiful.

If you haven’t dined at The Normandie Seaside Pub at The West Wind, it’s open to the public when there’s room. It’s a local favorite for breakfast and lunch, also open for dinner.

Florida’s Amendment 4

Several passers-by have asked about the posters that we have in our office windows saying “Vote Yes on Amendment 4”. Here’s a write-up about Amendment 4 from the September issue of “FloridaRealtors®” magazine.

“If passed this proposed constitutional amendment on the November ballot would create Florida jobs, grown Florida’s GDP and increase the personal income of Floridians, according to an independent economic and fiscal analysis by Florida TaxWatch.

“Amendment 4, which would take effect on January 1, 2013, proposes:

  • an additional homestead exemption for first-time Florida home-buyers;
  • reduction in the non-homestead maximum annual assessed value increase cap from the current 10% (on nonschool levies) to a new level of 5% and an extension of non-homestead assessed value caps through the 2022 tax year (which also does not apply to school levies); and
  • provision of legislative authority to eliminate the Save Our Homes “Recapture Rule”.

“Florida TaxWatch estimates that the passage of Amendment 4 would result in the creation of 19,483 private nonfarm jobs over the 10-year period of the analysis (2013-2022), an increase in Florida GDP by approximately $1.1 billion and an increase in personal income by more than $5.3 billion.

“The analysis also estimates that between 319,861 and 383,810 additional homes sales would occur due to the effects of Amendment 4 during the 10-year period following its passage and implementation.”

Vegetation Reminders

Island property owners recently received a mailing with a variety of informational pamphlets for homeowners. Here are a few highlights from the flier about vegetation. 

  • Native plants are protected by law on Sanibel. If you want to remove or move a native tree or shrub, a vegetation permit is required.
  • A vegetation permit is ALWAYS required prior to trimming mangroves and trimming the beach dune.
  • The City requires all landscape contractors, or persons hired to plant, transplant, prune, trim, or remove plants, to have a Vegetation Competency Card. Those who apply fertilizer must also have a Vegetation Endorsement.
  • For new or substantially improved properties, at least 75% of the vegetation in each plant category – trees, shrubs, and groundcover – must be native. This ratio of native plants to exotics is to be maintained in perpetuity.
  • To allow native plants to develop to maturity and provide food and shelter for wildlife, the City requires that pruning be limited to 25% of the leaf area in any one year.
  • The Brazilian Pepper Eradication Program is nearing completion. Removal of pepper from ALL residential and commercial properties is now MANADATORY.
  • In addition to pepper, the City encourages, and in some cases requires, the removal of seven additional exotic plants: air potato, earleaf acacia, exotic inkberry, melaleuca, Java plum, lead tree, and mother-in-law’s tongue.
  • Application of fertilizers containing nitrogen and phosphorus is prohibited from July 1 to September 30.

More info at www.mysanibel.com and www.sanibelh2omatters.com/fertilizer/

Sanibel Beach Parking Permits

Beach parking permits expire on November 30, 2012. Renew your permit at the Sanibel Recreation Center, 3880 Sanibel-Captiva Rd, beginning October 15. A valid vehicle registration for each vehicle and a valid state-issued identification or driver’s license are required. The Rec Center is open Mondays thru Thursdays 6:30 a.m. to 8 p.m.; Fridays 6:30 a.m. to 6:30 p.m.; Saturdays 8 a.m. to 5 p.m.; and Sundays noon to 5 p.m.

Sanibel Center 4 Life

Located at 2401 Library Way, “Sanibel Fit 4 Life”, is also part of the Sanibel Recreation Department and offers a variety of courses, group outings, fitness classes, and book/game/food fun. They are open Mondays thru Fridays 8 a.m. to 3:30 p.m. (May thru October) and until 5 p.m. (November through April).

Will the Presidential Election Affect Real Estate?

A posting in “Daily Real Estate News” on Wednesday, sourced “The Washington Post” August 30, saying:

“The next president of the United States — whether Democratic incumbent Barack Obama or Republican challenger Mitt Romney — could have a big influence over the recovery taking shape in the real estate market, according to political pundits. “The next president, whoever it turns out to be, is going to have a couple of big housing issues to address,” Barry Zigas, director of housing policy at the Consumer Federation of America, told The Washington Post. For example, “What is the government’s role in housing finance, and will consumers have access to mortgages at affordable rates?”

“Neither candidate so far has outlined a specific proposal for the housing market or mortgage lending. However, if re-elected, President Obama is expected to continue adding to his existing programs, such as in foreclosure relief, loan modifications, and by expanding refinancing options for home owners. He is also expected to continue to push for new housing finance rules under the Dodd-Frank Act, The Washington Post reports. If elected, Romney is expected to repeal Dodd-Frank. He also would likely replace it with regulations that would make it easier for the private sector to be a stronger player in the mortgage market, The Washington Post reports. 

“Housing analysts say that the next president will likely have a big influence over the mortgage market, such as determining how much of the real estate market could continue to be subsidized by the federal government. “The decision will have a huge influence on the housing market and the price of real estate, both for the lower end of the market that competes with affordable rental housing and the higher end that has lagged, partly because of lower limits for the size of mortgages that can be purchased and resold by Fannie and Freddie,” The Washington Post reports.

 “Also, the next president will also have to decide whether to ease up lending standards to make it easier for more people to qualify for a loan and the amount of down payment needed to buy a home.”

 Patients at CROW

I am always amazed to read the variety of animals that are treated at Sanibel’s CROW (Clinic for the Rehabilitation of Wildlife). There are 138 patients at the Clinic pending release now. Here’s the list: 1 Anhinga, 3 Eastern Cottontails, 12 Mourning Doves, 2 Mottled Ducks, 1 Common Grackle, 1 Common Ground Dove, 1 Herring Gull, 9 Virginia Opossum, 1 Osprey, 3 Great Horned Owls, 6 Brown Pelicans, 28 Northern Raccoons, 66 Eastern Gray Squirrels, 1 Atlantic Ridley Sea Turtle, 1 Eastern Box Turtle, and 2 Eastern Mud Turtles. If you haven’t visited the new CROW facility, be sure to do it. It is facinating!

“Ding” Darling Days Coming Up

Yesterday, I ran into Birgie Vertesch, Executive Director of the “Ding” Darling Wildlife Society. In talking about the upcoming 2012 “Ding” Darling Days, October 14-20, she reminded a local family that the first day of this now annual celebration, Sunday, October 14, is a FREE Family Fun Day. If you know a family on Sanibel that day, please be sure to tell them about this event for all ages. Schedule of events on http://www.dingdarlingsociety.org/ddd-events

Sanibel and Captiva Multiples Listing Service Activity August 31-September 7
 


Sanibel
CONDOS
4 new listings: Sundial #F105 1/1 $295K, Sundial #G401 2/2 $495K, Sundial #E308 2/2 $835K, High Tide #A101 2/2 $1.35M.
3 price changes: Pointe Santo #C4 1/1 now $489.9K, Sundial #L202 2/2 now $625K, Shell Island Beach Club #5D 2/2 now $889K.
1 new sale: Sundial #H306 2/2 listed for $549K.
2 closed sales: Sundial #C206 1/1 $244.9K, Sandpiper Beach #105 2/2 $560K.
 
HOMES
2 new listings: 0 Tarpon Bay Rd 3/2 $599K, 1188 Harbour Cottage Ct 3/3 $629K.
2 price changes: 3002 Poinciana Cir 3/2 now $359K, 569 Lighthouse Way 3/3 now $890K.
3 new sales : 293 Palm Lake 3/2 listed for $430K; 660/664 Periwinkle Way 4/2/2 duplex listed for $575,999; 760 Birdie View Pt 4/3.5 listed for $849K.
2 closed sales: 1702 Sand Pebble Way 3/2.5 $385K, 2228 Starfish Ln 3/2.5 $1.1M.

LOTS
3 new listings: 1340 Eagle Run Dr $279K, 255 Hurricane Ln $339K, 1028 Bayview Dr $1.795M.
No price changes or new sales.
1 closed sale: 925 Whelk Dr $739K.
 
Captiva
CONDOS
1 new listing:  Beach Homes #11 3/3 $2.28M.
2 price changes: Tennis Villas #3110 1/1 now $275K, Tennis Villas #3139 2/2 now $405K.
No new or closed sales.
 
HOMES
Nothing to report.

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 the general real estate activity in the community and does not imply that SanibelSusan Realty Associates is participating or participated in these transactions.  If your property currently is listed with another broker, this is not intended as a solicitation of that listing.

Sanibel & Captiva Islands Real Estate – With All Eyes on Tropical Storm Isaac

Posted on by
Reply

The SanibelSusan Team has been watching the weather channel entirely too much today; but better safe than sorry. As a precaution, Dave brought in all of our “For Sale” signs this morning. We don’t want them to become airborne.

We all got our 2012 hurricane re-entry passes in June, but it seems some did not plan ahead. The City/Police Dept stayed open until 8 p.m. last night to accommodate those folks getting them at the last minute.

With all eyes on how Isaac moves after it crosses Cuba, our plan is to be open unless it looks unsafe. Being on the easterly side of a hurricane path is not the best from a wind and storm surge standpoint, so we naturally hope it either veers way out into the gulf or dissipates.

Dave and I did some business on Sanibel’s west end earlier in the week. He snapped these pictures near the dredging area of Blind Pass. The beach sure looked terrific. Let’s hope that Isaac doesn’t bring back the sand that just got moved offshore.

 

Real Estate Action This Week

We had no real estate caravan meeting yesterday, but there was a little island sales action as posted below. Last week, we had multiple offers on our Rabbit Road lot listing that went under contract. That definitely was a surprise, but fun! It has been a long time since that has happened.

Elise took a class at the Association of Realtors® office yesterday, called “iPads, iPhones, & Tablets”. Now she’s sharing her new knowledge with the rest of us. Our Association also has a new website that went on-line this week, www.SanibelRealtors.com. 

Buyers Want a Bargain? Here’s Their Chance!

For home buyers who are looking for a chance to buy low, they may not want to drag their feet too much longer according to an article posted Tuesday in the “Daily Real Estate News”:

““Home prices have probably bottomed in most markets,” David Crowe, chief economist at the National Association of Home Builders, said in an NBC News-hosted Web chat with online visitors last week. “Mortgage rates are not likely to go down much further and will eventually rise as the economy recovers. Home builders are hungry and while you will still have to pay a fair price, you may not get a better bargain than now before all the rest of the demand comes back.” However, the best bargains will largely depend on where you’re at, Crowe says. “House prices are rising in some markets, notably Texas… In a few markets that were severely damaged by the recent Great Recession, prices may continue downward for another six to ten months,” Crowe says. Crowe says one hurdle that may slow the recovery is the inability for some home buyers to still not be able to qualify for financing due to banks’ tightened underwriting conditions in the last few years….”

Comparing this article to the Sanibel and Captiva market, I think it is safe to say that the tide is changing here too. Here are the latest inventory statistics with the number of sales “up” in all categories.

                                 #                      # Sold               # Sold               # Sold               # Sold

                              For Sale            Year-to-Date      in 2011              in 2010              in 2009

Sanibel condos          161                   132                   142                   120                   87

Sanibel homes           186                   150                   179                   124                   144

Sanibel lots                 83                     30                     19                     21                     11

Sanibel Subtotal          430                   312                   340                   265                   242

Captiva condos           47                     31                     24                     25                     22

Captiva homes            41                     25                     22                     10                    16

Captiva lots                  4                       4                       1                       2                      3

Captiva Subtotal          92                     60                     47                     37                     41

Total Both Islands       522                   372                   387                   302                   283

“Rescue Me” Partnership

This week tree trimmers were working along Periwinkle Way, removing some of the vegetation growing over the power lines. That was timely, wonder if they knew in advance that Isaac was thinking about Florida.

This trimming made it particularly timely, when I saw this internet posting:  “CROW (Clinic for the Rehabilitation of Wildlife) is working with the City of Sanibel, Lee County Electric Coop (LCEC) and Asplundh Tree service in an effort to protect our nesting birds.  This huge undertaking requires a team of volunteers who can help identify which trees have nests and mark those trees in advance to alert the tree service crews.  If an active nest is displaced or babies have fallen, the Asplundh Tree Service crew will place the nests and/or babies in “Rescue Me” boxes created by our local Boy& Girl Scouts, mark the location where the babies were found and then deliver them to CROW for short-term rehabilitative care and release back at the original nest site.”

Below are a few Sanibel bird photos. The baby red-shouldered hawk picture came from CROW while the others are from a Facebook acquaintenance who visited the island for many years and is willing to share his pictures. Thank you, Joe Santucci.

This slideshow requires JavaScript.

27th Annual Coastal Cleanup September 15

SCCF (Sanibel-Captiva Conservation Foundation) is inviting everyone to participate in an international volunteer effort to rid our coastlines and waterways of marine litter, pollution, and debris. As many as 400,000 volunteers worldwide will be removing 6.8 million pounds plus of coastal trash that can hurt local economies, injure and kill marine wildlife, and choke the ocean environment. SCCF’s partner in the Ocean Conservancy’s 27th Annual Coastal Cleanup is Keep Lee County Beautiful. Participation is easy. Bring your friends and family to SCCF at 3333 San-Cap Road between 9-12 a.m. on Saturday, September 15 to check in and pick up your Coastal Cleanup Data cards and trash bags. Return your data sheets, deposit your trash in the SCCF dumpster, and have lunch or snacks on the Nature Center porch between 10 and 12 a.m. Call SSCF at 239-472-2329 with questions, to pick your “cleanup” spot early, or get data cards ahead of time.

Top 8 College Towns for Investors

I had two clients tell me this week that they are looking at buying investment real estate in their college towns. Again another timely article was posted Wednesday on “Daily Real Estate News”. It says:

“Investors increasingly are eyeing college towns to snag properties at discounts and turn them into rental properties that could potentially offer steady cash flow with student tenants. But which college towns offer some of the best returns? Realtor.com recently released its second annual list of the best college towns for investors, factoring in average monthly rental prices and comparing it to estimated mortgage payments of a median priced home. The following are the top eight college towns for investors, according to this year’s report.

1. Boston, median list price: $334,900, average rent: $3,084, mortgage payment estimate: $1,240

2. Princeton NJ, median list price: $265,000, average rent: $2,056, mortgage payment estimate: $980

3. Chicago, median list price: $194,000, average rent: $1,630, mortgage payment estimate: $720

4. Washington DC, median list price: $395,000, average rent: $2,637, mortgage payment estimate: $1,460

5. Houston, median list price: $183,000, average rent: $1,134, mortgage payment estimate: $680

6. Philadelphia, median list price: $234,900, average rent: $1,475, mortgage payment estimate: $870

7. Atlanta, median list price: $174,900, average rent: $1,187, mortgage payment estimate: $650

8. Pittsburgh, median list price: $140,000, average rent: $1,122, mortgage payment estimate: $520″

Price Your House To Sell Quickly

I have shared articles on this subject before, but thought this one particularly well written. It was posted by Dian Hymer with Inman News on Monday. Dian is a real estate broker with more than 30 years’ experience, a nationally-syndicated real estate columnist and author of “House Hunting: The Take-Along Workbook for Home Buyers” and “Starting Out, The Complete Home Buyer’s Guide.”

“If home lacks features of recent comps, it’s time to subtract value – A 1st-quarter survey of homebuyers and sellers done by HomeGain.com, a real estate services website, revealed that 76% of homeowners believe their home is worth more than the list price recommended by their real estate agent. Homebuyers usually have a better grasp of current market value in the area where they’re looking to buy than do sellers who own and live there. Buyers look at a lot of new listings. They make offers, know what sells quickly and for how much, and what doesn’t and why. HomeGain reported that homebuyers still think sellers are overpricing their homes.

“Your home is worth what a buyer will pay for it given current market conditions. This may not be the same as your opinion of what your home will sell for, or what you hope it’s worth. Relying on emotion rather than logic when selecting a list price can lead to disappointing results…. Listings that sell today are priced right for the market. Buyers need to feel comfortable that they are getting a good deal. Buyers won’t overpay if they feel home prices are still declining, and in some areas of the country, they still are. In areas of strong sales, buyers may shy away from multiple-offer situations if they feel the recovery is fragile and that prices may slide further before stabilizing. Even in areas where home sales have been strong in the first half of 2012, local practitioners wonder how long the uptick will last.

“HOUSE HUNTING TIP: When selecting a list price, it helps to understand how real estate agents and appraisers establish an expected selling price or price range for your home. They research the recent listing inventory for homes similar to yours that sold. The most recent sales give the best indication of the direction of the market. They analyze these comparable sales giving more value to your home for attributes that it has that the comparables don’t, like a remodeled kitchen. Value is subtracted from your home for features it lacks when compared to the sold comparables, like an easily accessible, level backyard.

“It’s difficult for sellers to step back and take an attitude of detached interest in their home. But it’s essential to do so if you want to sell successfully in this market…. If the comparable sale information suggests that the value of homes like yours is declining, select a list price that undercuts the competition to drive buyers — and hopefully offers — to your home. You can take a more aggressive stance on pricing if the comparables show that prices are moving up.

“If there is high demand for homes like yours, you may receive more than one offer. But don’t list too high. It’s better to stay in the range shown by the comparables and expose the house to the market before accepting offers. The market will drive the price up if it’s warranted.

“THE CLOSING: Don’t rely on rumors circulating in the neighborhood about how high a home sold. Prices tend to get inflated when passed from one person to another. Select your list price based on hard facts.”

Sanibel & Captiva Multiple Listing Service Activity August 17-24

Sanibel
CONDOS
No new listings.
3 price changes: Blind Pass #E102 2/2 now $395K, Blind Pass #B102 2/2 now $359K, Loggerhead Cay #232 2/2 now $539K.
1 new sale: Compass Point #143 3/2 listed for $1.049M.
1 closed sale: Captains Walk #F7 2/1.5 $205K.

HOMES
1 new listing: 3825 West Gulf Dr 3/2 $2.35M.
2 price changes: 1536 Bunting Ln 3/2 now $433.5K, 5841 Pine Tree Dr 3/2 now $489.9K.
2 new sales: 750 Nerita St 3/2 listed for $499K, 494 Surf Sound Ct 5/2.5 listed for $899,555.
2 closed sales: 2210 Camino Del Mar 3/2 $512.5K, 1043 Sand Castle Rd 3/2 $535K.
 
LOTS
No new listings.
1 price change: 133 Butterknife Pl now $324.9K.
1 new sale: 545 Rabbit Rd listed for $179K (our listing).
1 closed sale:  4771 Rue Helene $345K.

Captiva
CONDOS
No new listings, price changes, or new sales.
2 closed sales: Captiva Shores #1B 3/2.5 $1M, Captiva Bay Villas #D 3/3.5 $2.5M.

HOMES
1 new listing: 1114 Schefflera 4/3 $1.795M.
No price changes or new sales.
1 closed sale: 11407 Old Lodge Ln $950K.

LOTS
No new listings, price changes, or new sales.
1 closed sale: 11401 Old Lodge Ln $2.5M.

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.  If your property currently is listed with another broker, this is not intended as a solicitation of that listing.

Mid-August Real Estate Scoop About Sanibel & Captiva Islands

Posted on by
Reply

It’s the end of another week of wonderful weather on Sanibel. Here are a few news items, followed by the real estate activity posted this week in the Sanibel & Captiva Islands Multiple Listing Service.

Did You Know?

Here’s another terrific reason to be on Sanibel Island. These statistics really put things in perspective. The summer issue of the Sanibel Historical Museum and Village newsletter “Sanibel’s Village Voice” says: “Sanibel (17.5 sq. mi.) and Manhattan (22.96 sq. mi.) are close to the same size, yet Sanibel’s population is 6,469 and Manhattan’s is about 1.6 million.”

In other news about the Museum, coming soon to the Village are Shore Haven, a Sears kit home, and its caretaker cottage. They are hoping to welcome them to the Village in September.

Sanibel & Captiva Islands Association of Realtors® Continuing Education

Our local association of Realtors®-sponsored 14-hour continuing education class was this week.  Since my license renewal is next winter, this off-season event was a great time to get these education requirements out-of-the-way early.

On Tues morning at o’dark-thirty, 17 of us boarded a Captiva Cruises vessel with Kristie Anders, Education Director of the Sanibel-Captiva Conservation Foundation (SCCF). In addition to getting a terrific boat ride around Captiva, North Captiva, and up/down Roosevelt Channel, Kristie updated us on recent island development from an environmental standpoint, building code changes, mangrove trimming, and preservation issues. As a daily commuter by boat from her home on North Captiva to Sanibel, Kristie has a keen eye for manatees and dolphins, so she spotted several for us to enjoy along the way.

This slideshow requires JavaScript.

That morning education session wrapped up at Island Water with a tour of their facility, a presentation on the state of the reverse-osmosis plant, its history, water sources, statistics on how much water islanders use today, how to better conserve, and their plans for the future.

One of the first signs from J.N. “Ding” Darling Wildlife Refuge. As the story goes, Ding himself was seen nailing one of these to a tree in the Refuge.

The afternoon session presented again by Kristie but at SCCF’s Education Center included statistics from the local Visitor and Convention bureau about current sources of county and island visitors, their vacation preferences, and time of year/length of stays. She also gave us her presentation “The City That Almost Wasn’t” which is a new one offered periodically at SCCF and describing how Sanibel came to be. (I post SCCF’s schedule each month on my website and blog, so check them out if you would like to attend this presentation too. It’s definitely a winner!)

2-day Loggerhead turtle with cord still attached where it connected to egg sac

To answer some questions from the floor, Kristie brought in local SCCF animal expert, Dee Serage Century who brought us up-to-day on the travels of the Sanibel Bear, a coyote family that now resides on Sanibel, the new female crocodile, and other tales of island wildlife coexisting with humans.

The last black indigo snake on Sanibel (per SCCF). Species is endangered in Florida.

We also received a tour of the live turtle exhibits, an up-close-and-personal visit with Sanibel’s only black indigo snake which is a protected species, and a chance to photograph a 2-day-old baby Loggerhead turtle. It is amazing how these tiny hatchlings, make it into the gulf, and survive to grow into such huge creatures.

Mangrove diamond-backed turtles

Kristie also updated Realtors® on state and local water quality issues, ongoing projects at the Marine Lab, and SCCF’s current land preservation projects. SCCF offers a free one-year membership to any new island property owner. Local Realtors® help SCCF in facilitating them.

The 2nd day of class covered Negotiations and Core Law. Though these are not usually fun subjects, our instructor, Mel King from the Royal Institute of Real Estate in Fort Myers, made it more enjoyable by including several case studies particularly suited to our island market and today’s real estate challenges. I think he was impressed that island Realtors® demonstrated strong business practices and ethics. (A true plus from working on a small barrier island!)

4 Strong Reasons to Buy a Home Now

An article posted this week in the “Daily Real Estate News” says:

“It’s hard to argue against buying a house now, assuming you can get a loan,” writes John Waggoner, a columnist with USA Today. Sure, Waggoner says that getting a credit check for approval of a mortgage can be a “only slightly less intrusive than a CIA background check,” but for those who are able to qualify, a lot of analysts say that now can be a good time to purchase a home.

1. The price is right. The median single-family home price hit its lowest in more than a decade when it reached $154,600 in January, according to the National Association of REALTORS®. That was the lowest since October 2001. During the height of the housing market in July 2006, the median home price for a single-family home was $230,900.

2. It’s cheaper to buy than rent. In nearly every major metro market, it is cheaper to buy a home than rent. Rents have been on the rise the last few years and are predicted to continue to rise. Meanwhile, home affordability is at record highs, which means that buying a home is more within reach to the median income family.

3. Inventories of for-sale homes are shrinking. Ned Davis Research estimates that excess inventories of homes to be eliminated by the end of next year. “When excess supply dries up, people start building more new houses, which has the virtuous effect of reducing the unemployment rate and increasing the economy generally,” according to the USA Today article.

4. Mortgage rates are at record lows. Mortgage rates have hovered near record lows for weeks which have helped push housing affordability higher. For example, the average 30-year fixed-rate mortgage, which is the most popular among home buyers, is 3.59%, according to Freddie Mac—just above its record low set on July 26 of 3.49% average. “It’s conceivable that at some point in the next 30 years, your interest rate would be less than the rate of inflation,” writes Waggoner for USA Today.”

Sanibel Summer Dining

Last week, I mentioned a couple of new island restaurants. Today I noticed the first announcements of Sanibel restaurants closing for their annual vacations and pre-season spruce-ups. Trader’s Cafe & Store will be closing for seven weeks after dinner tomorrow (reopening Oct 3).

The Over Easy Cafe will be closed from Sept 10-20. Still plenty of time to in fit a few meals at The Over Easy before they take their break. Dog lovers particularly like the outdoor seating at The Over Easy where pets are welcome. Today I spotted an adorable Maltese enjoying the patio.

Sanibel & Captiva Islands Multiple Listing Service Activity August 10-17

Sanibel
CONDOS
4 new listings: Casa Blanca #6 1/1 $274.9K, Sanibel Moorings #1042 2/2 $449K, Sundial #G201 2/2 $539K (foreclosure), Sundial #L202 2/2 $695K.
6 price changes: Ibis at The Sanctuary #A202 2/2 now $348.9K, Sundial #J103 1/1 now $397K, Sundial #I203 1/1 now $439K, Cottage Colony West #101 1/1 now $498K, Island Beach Club #220B 2/2 now $529K, Shell Island Beach Club #5B 2/2 now $744K.
No new sales.
2 closed sales: Sand Pointe #212 2/2 $602K, Beachcomber #A101 2/2 $1.175M.

HOMES
1 new listing: 1824 Woodring Rd 4/4 $1.175M.
2 price changes: 1001 Lindgren Blvd 3/2 now $634K, 6009 Clam Bayou Ln 4/3 now $877K.
4 new sales: 2134 Egret Cir 3/2 half-duplex listed for $369K, 613 Sea Oats Dr 2/2 listed for $375K, 963 Kings Crown Dr 3/3 listed for $795K, Plantation Village #103 4/3 listed for $1.29M.

1 closed sale: 3229 Twin Lakes Ln 2/2 $435K.

LOTS
No new listings, price changes, or new sales.
1 closed sale: 2299 Starfish Ln $303.5K.

Captiva
CONDOS
3 new listings: Bayside Villas #5144 1/2 $339.5K, Beach Villas #2433 $698.5K, Sunset Beach Villas #2238 3/3 $850K.
No price changes.
2 new sales: Tennis Villas #3120 1/1 listed for $215K, Bayside Villas #5228 1/2 listed for $299K.
No closed sales.

HOMES
Nothing to report.

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 the general real estate activity in the community and does not imply that SanibelSusan Realty Associates is participating or participated in these transactions.  If your property currently is listed with another broker, this is not intended as a solicitation of that listing.

Today’s Sanibel & Captiva Island Blog Comes to You From Orlando!

Posted on by
Reply

SanibelSusan is in Orlando at the Florida Realtors® 2012 Annual Convention and Trade Expo. Thanks to modern technology, my SanibelSusan teammates, Elise, Dave, and Lisa are keeping things running smoothly at home, including getting our new lot listing posted and a condo closing finalized today. Here are a few real estate news items followed by the Sanibel & Captiva Island Multiple Listing Service action over the past week.

Florida Realtors® 2012 Convention & Trade Expo

Jeanne Robertson

After attending classes and meetings for the last two days, it was a nice reprieve to hear keynote speaker Jeanne Robertson at the Awards Luncheon yesterday. Jeanne was Miss North Carolina in 1963 and the tallest contestant ever to be in the Miss America pageant. How does she relate to the real estate business, you may ask. Her presentation, titled “Humor: A Strategy for Success” can be applied to any business and boy is she funny – truly is a master story-teller. Check her out daily on Sirius/XM Radio’s Family Comedy channels or find her clips on YouTube. Here’s a particularly hysterical one, this skit was part of her presentation yesterday. http://www.youtube.com/watch?v=-YFRUSTiFUs I’m still laughing, just thinking about her.

During the awards portion of yesterday’s event, Todd Dantzler was recognized as the 2012 Florida Realtors® “Realtor of the Year”. Todd was our state President in 2000 and came to Sanibel for my installation as President of the Sanibel & Captiva Islands Association in 1998. In addition to his many years of work in the real estate community both locally, state, and nationally, Todd is currently a Polk County Commissioner. It was great to see such a fine Realtor® recognized for his efforts.

Barbara Corcoran

Today our noontime speaker at the General Session was Barbara Corcoran familiar to many for her role as one of the sharks on the TV show “Shark Tank”. She parlayed a $1,000 loan from a boyfriend into a NY real estate business that she sold for $66 million, and that into the $5 billion Corcoran Group. She also is an amazing speaker. Being in the 2nd row in a room of 2500 fellow Realtors® gave me a great vantage point to see her up close. We all learned good tips from her, particularly in dealing with real estate times like those today.

This afternoon was our Legislative and Political Forum. That group often springs a few unannounced politicians on us, so I was anxious to see if we would have surprise visitors. In past years, before their elections I got to rub shoulders with Governor Rick Scott, and former Governors Charlie Crist, and Jeb Bush. Those politicians always want to get Realtor® support. We are a huge PAC.

Sure enough, today’s event included presentations by Congressman Rick Lazio (R) NY for Governor Romney and Florida Senator Bill Nelson (D). I collected an armload of material to remind my fellow Floridians to vote “Yes” on Amendment 4. More info on that at www.TaxYourAssetsOFF.com.

Tomorrow morning, I get my turn to be part of the event in “Got Ethics” being presented by the Professional Standards Forum. Based on the popular 60’s-70’s TV game show, the Match Game, it will offer hypothetical situations depicting questionable conduct in real estate transactions as contestants try to match their answers with a panel of four real estate stars in the game. I’m one of the four. (Sure hope I know the correct answers!)

Later tomorrow is the annual meeting of the Resort & Second Home Specialists Forum. As the only island Realtor® selected for this state group, it is a great networking opportunity and I always come back armed with good info to share with my colleagues. Hopefully, I will gain some news to include in the Resort & Second Home Specialist Class that I am teaching in October as part of our Sanibel & Captiva Islands Specialist designation.

I will be back on the island on Sunday and am always thankful that I can attend these events with the office in good hands. Thanks Dave, Elise, & Lisa.

Sanibel Island in the “NY Times”

Here is a link to the article posted on NYTimes.com on Wednesday, titled “A Florida Island Draws an Array of Seashells and Hunters to Gather Them”.

This was yet another example of the excellent press, the islands have received this year!

Sundial Beach & Golf Resort on Sanibel Purchased for $2.3 Million

For those looking for a little more scoop about what is happening at Sundial, here is the article from the Fort Myers “News Press”:

“The Sundial Beach & Golf Resort on Sanibel has been purchased for $2.3 million by a private equity group with ambitious plans to rejuvenate the 407-unit project. For the first time in decades, the resort will be managed as an individual property rather than as part of a large company’s portfolio, the Sundial’s new manager said.

“An affiliate of Newtown, Pa.-based CoreStates Capital Advisors LLC bought the Sundial from The Blackstone Group on July 16. Sundial “is a landmark. … We’re excited new blood is coming in,” said Ric Base, president of the Sanibel and Captiva Islands Chamber of Commerce. The new owners “are going to put money back into the place, and fix it up. They’re going to open the restaurant and the pool tiki bar back up to the public,” Base said. “All of those things are good for the community.”

“CoreStates hired Pittsburgh-based CAM Hospitality Advisors & Management to develop a multimillion-dollar refurbishment of the Sundial”, said CAM’s Christopher Mannino. Right now, Mannino said, “we’re in the early stages of understanding what’s most important for the guests who stay there and the owners” of the condominiums. There’s no formal plan yet, but some ideas being considered are a full-service spa, a marketplace/general store/cafe in addition to a new fitness center plus new banquet and catering space, Mannino said. CAM’s focus will be on creating an individual identity for the Sundial, which has long been managed and marketed as part of Blackstone’s inventory of resorts. Before that, it was owned by Meristar, also a major owner of resorts. “It has a long history of being styled together with other resorts like the Sanibel Inn and South Seas Resort,” Mannino said. “This will be the first time in 20 years, maybe more, that it will be freestanding, an individual business not tied to other businesses. When you see the new website it’ll be strictly the Sundial resort.”

“Blackstone bought Sundial and nine other properties in Florida from MeriStar Hospitality Corp. in 2006 for $367 million. Meristar had owned the resort since 1998, when it purchased the Sundial as part of its acquisition of South Seas Property Co. LP, which owned South Seas Plantation on Captiva as well as Sundial and five other properties on Sanibel plus the Radisson Suite Beach Resort on Marco Island. South Seas Property had bought the Sundial in 1994 as part of a $9 million acquisition from Marquis Hotels and Resorts Co.

“Sundial was built starting in 1972, when it was known simply as “Sundial condominium.””

Island BBQ Company

We love new island eateries and have already tried the Island BBQ Company which opened late June in the former Island Pizza location on Palm Ridge Road. Their menu includes pulled pork and chicken, smoked chicken, baby back ribs, beef brisket, and BBQ pizzas. The fun part is their five sauces: 1) Island Sauce – sweet tomato-based sauce spiked with rum and pineapple, 2) Smokey Sauce – smokey tomato-based sauce (good on ribs), 3) Sweet Vinegar Sauce – Carolina-style with a little bite, 4) Mustard Sauce – sweet honey-mustard sauce (good on pulled chicken); and 5) Spicy Orange – intense orange with a bit of spice.

The chef uses a 3-day smoking process on the meats and most menu items, from pies to pasta, are made fresh daily. Beach boxes are available and include a choice of meats and two sides: mac and cheese, baked beans, mashed potatoes, cole slaw, mixed vegetables, corn on the cob, cornbread, Texas toast, or a kaiser roll.

Island BBQ also offers gluten-free options and has no fried foods. In its banquet hall at Beachview Golf Club, Island BBQ can cater a party for up to 184 people. They also have “take and bake” meals. Island BBQ Company is open from 10:30 a.m. to 5 p.m. Monday through Saturday and closed on Sundays during the summer. It’s take-out or delivery only.

Rosie’s Deli to Return in New Location

Here is a little more news on the food front (The SanibelSusan Team likes to eat!) Many already know that Gepetto’s Beach Foodies opened earlier this year (an expansion of Pinocchio’s Ice Cream Shop) in the former Rosie’s Deli location on the east end of Periwinkle Way in the area known as Olde Sanibel.

Now it has been announced that Rosie’s Deli will be reborn in early October in the space previously occupied by The Hungry Heron on Palm Ridge Road, which closed in July. The new Rosie’s Cafe and Grill will combine both sit-down and take-out food for breakfast, lunch, and dinner. Rosie’s homemade chicken salad and seafood salad, Cuban, Reuben and Philly steak sandwiches and Pelican

Poop chocolate candies will be back – while The Heron’s popular steam pots, as well as other family favorites, also will be available. Remodeling work is under way to give the interior a new color scheme and fresh décor.

If You Can Pull It Off, A House is a Smart Investment

Today there is an excellent article in “USA Today” by their Friday investment columnist, John Waggoner. I almost missed it, but have wonderful clients keeping me on my toes. (Thanks again, Scott.)

To read the article, go to  http://usa.ly/P351CD

Sanibel & Captiva Multiple Listing Service Activity August 3-10
 

View from our new near-beach single-family home lot listing at 437 Lake Murex Circle.

 
Sanibel
CONDOS
2 new listings: Coquina Beach #3C 2/2 $448K, Loggerhead Cay #581 2/2 $545K.
5 price changes: Sanibel Arms West #H2 2/2 now $469K, White Caps South #5 1/1 now $490K, Loggerhead Cay #462 2/2 now $525K, Sanddollar #C101 2/2 now $860K, Bougainvillea #4 3/3 now $1.2M.
1 new sale: Sundial #G107 1/1 listed for $229.9K.
5 closed sales: Lake Palms #9 2/2.5 $225K, Loggerhead Cay #481 2/2 $400K, Kings Crown #212 2/2 $525K (our listing), Shorewood #2C 3/2 $782.5K, High Tide #B202 2/2 $1.3M.
 
HOMES
4 new listings: 4629 Brainard Bayou Rd 3/2 $549K, Moonshadows #1E 3/3 half-duplex $689K, 3507 West Gulf Dr 3/2 $3.395M, 3517 West Gulf Dr 4/5.5 $5.495M.
11 price changes: 9298 Kincaid Ct 3/2 now $495K; 1809 Bowmans Beach Rd 3/2 now $550K; 660/664 Periwinkle Way 4/2/2 duplex now $575,999; 5742 Pine Tree Dr 4/2 now $798.9K; 2498 Harbour Ln 4/3 now $949K; 862 Beach Rd 3/2 now $989K; 985 Oyster Ct 4/4 now $1.295M; 660 Anchor Dr 4/4 now $1.799M; 2118 Starfish Ln 4/5 now $1.95M; 4717 Rue Belle Mer 3/3 now $1.975M; 3441 West Gulf Dr 5/4/2 now $5.349M. 
2 new sales: 476 Las Tiendas Ln 3/2 listed for $599K (short sale), 4996 Joewood Dr 3/3 listed for $760K.
1 closed sale:  955 S Yachtsman Dr 3/2 $518K. 
 
LOTS
3 new listings: 437 Lake Murex Cir $249K (our listing); 6141 Starling Way $499,555; 2510 Coconut Dr $579K.
No price changes.
1 new sale: Gulf Pines Dr listed for $319K.
No closed sales.
 
Captiva
CONDOS
1 new listing: Sunset Beach Villas #2313 1/1 $519K.
No price changes, new or closed sales.
 
HOMES
Nothing to report.
 
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 the general real estate activity in the community and does not imply that SanibelSusan Realty Associates is participating or participated in these transactions.  If your property currently is listed with another broker, this is not intended as a solicitation of that listing.

August is Sunny & Bright on Sanibel & Captiva Island

Posted on by
Reply

The islands have had terrific weather again this week with no rain, just sunny days with bright blue skies. A former client stopped in this morning saying that when he went to the beach earlier it was nearly as busy as it is in the winter. We told him that it may slow down a bit next week, after local schools begin.

Last Friday, another client who owns a small Sanibel resort, also stopped in. She said that her facility has been busy much of the summer and now mostly with European visitors. She noted that one day all of her rooms were taken with German tourists – none who even knew one another. She mentioned some foreign guidebooks left behind starred Sanibel as a “must see” stop for visitors coming to Florida – probably more positive results from the national news about Sanibel being such a great vacation destination.

Here are a couple of other news items, followed by the week’s report of the Sanibel & Captiva Islands Multiple Listing Service action.

New Plantings at Lighthouse Beach Park

If you remember the photos posted after Tropical Storm Debby passed near Sanibel earlier this summer, you can appreciate that the City has completed planting a large group of green buttonwood trees along the access roadway to the lighthouse, intended to mitigate erosion during abnormally high tides and storm surges. Once established, the root structures of these trees will help to hold the sand in place and minimize damage from future events. Sanibel’s Director of Natural Resources, James Evans, is quoted saying “It was clear from the areas where erosion did not occur that the existing green buttonwoods and mangroves did a good job of protecting the shoreline.” In addition to these trees at Lighthouse Beach Park, the City is also putting in beach dune plantings at Bowman’s Beach Park, Tarpon Bay Beach, and Gulfside Park – funded by the Tourist Development Council Beach and Shoreline Program. (The photos above and below were taken this afternoon. Dave said that both parking lots were full at the Lighthouse – another busy Sanibel beach day – wooohooo!)

Lee County Commission Votes Against Tax Hike

As reported in the Fort Myers NewsPress.com, on Tuesday “Lee County commission voted to keep property tax rates at their current level for the upcoming fiscal year. In a 4-1 vote, commissioners agreed to set taxes at a maximum rate of 4.15% next year – the same they’ve been since fiscal year 2007-08, according to the clerk’s office. The rate can be lowered during budget hearings in September but not increased….”

FHFA Says Fannie, Freddie Will Not Reduce Mortgage Balances

An article posted in “Daily Real Estate News” midweek, says

“The Federal Housing Finance Agency announced Tuesday that after several months of mounting pressure from the Obama administrator and lawmakers that the mortgage giants it regulates, Fannie Mae and Freddie Mac, will not lower the mortgage principal of underwater home owners. Its decision quickly drew criticism. The FHFA insists that through its own analysis it has concluded that reducing the mortgage principal of struggling home owners will not help prevent foreclosures nor save tax-payers money in bailout money to the GSEs. The Obama administration says it disagrees with the FHFA’s decision. Treasury Secretary Tim Geithner was quick to argue that a reduction of struggling borrowers’ loan balances by the FHFA could save taxpayers up to $1 billion. “I do not believe it is the best decision for the country,” Geithner wrote to the FHFA shortly after it announced its decision. “You have the power to help more struggling home owners and help heal the remaining damage from the housing crisis.”

“The government had committed to helping to cover some of the costs to implementing such a program if the FHFA would permit mortgage principal reductions to move forward. Yet, Edward DeMarco, the FHFA’s acting director, says that the FHFA has concluded after months of consideration that “the anticipated benefits do not outweigh the costs and risks” with mortgage principal reductions, and that the agency stands by its original decision to not permit it. DeMarco says that only about 74,000 to 248,000 home owners would be eligible for the principal reductions, but developing and implementing such a program would prove costly. Plus, about 11 million Americans are underwater on their mortgages so the program would only be able to help a small share. DeMarco also said he was concerned reducing the mortgage principal on some home owners’ mortgages would prompt other borrowers to fall behind on their payments so that they could receive similar treatment.” (Source: “Fannie, Freddie Regulator Says No to Reducing Principal,” CNNMoney (July 31, 2012) and “Agency Bars Fannie and Freddie From Reducing Principal,” The Associated Press (July 31, 2012))

More Sanibel Bike Path Work

This week, the City’s contractor began the scheduled improvements on the shared use path along Tarpon Bay Road from Island Inn Road to West Gulf Dr.

Take care when biking in that area for the next 45 days.

Housing Market Lifts Off From the ‘Bottom’

Another “Daily Real Estate News” article, posted “Recent housing indexes have shown single-family home prices are on the rise, providing more evidence that the “bottom” of the market is already behind. “We’re wiping out just about all of the decline,” Joel Naroff, chief economist at Naroff Economic Advisors, told NBC.com about recent housing data showing home prices inching up. “It indicates the market has turned the corner on the pricing side.” Some recent housing indexes suggest that the “bottom” of the market was reached in January 2012. Since that time, housing prices have been picking up in many housing markets. But “the turnaround in home prices was unexpected,” says Patrick Newport, an economist with IHS Global Insight. “The conventional wisdom in February, following that landmark agreement [of the $26 billion mortgage settlement with the nation’s five largest banks], was that we would see a surge in foreclosures of some size that would lead to lower home prices. This surge never materialized and home prices have turned.”

            “Newport points to several signs of a housing market on the mend. For one, housing starts are up, after reaching a low in the fourth quarter of 2011. Also, he says the FHFA monthly House Price Index shows a 3.7% increase in May year-over-year, which he notes is higher than inflation and “means that real housing wealth, a consumer spending driver, was also up.” The increase in home prices is also leading to a fewer number of home owners who are underwater on their mortgages, owing more on their mortgage than their home is currently worth. The number of underwater home owners fell from 12.1 million at the end of 2011 to 11.4 million at the end of the first quarter this year, according to CoreLogic data. (Source: “Evidence Mounts that Home Prices Hit Bottom Last Winter,” NBC News (July 31, 2012))

New Fire Station Coming to Captiva

A recent article posted locally by Captiva Fire Chief Rich Dickerson, advises that after 33 years of service, the Captiva Fire Station is being retired. Completed in 1980 when the department had just four full-time paid staff, the facility now lacks the space needed to accommodate today’s staff of 11, plus volunteers. Planning for a new station began in 2008 and is targeted for completion in late 2013/early 2014. Not only will the new station be configured to accommodate today’s needs, it will be built to withstand a major hurricane, and designed to service as the main headquarters for a Disaster Unified Command team.         

NAR Emailing 82 Million Americans

A posting today on Florida Realtors® announced that “The National Association of Realtors® (NAR) started an email campaign last week. NAR says it will contact 82 million Americans – 75 million homeowners and 7 million renters – and explain actions in Washington that, if passed, would make homeownership less desirable.
            “The email has two goals. It first attempts to educate consumers about the value of homeownership. It then positions NAR as a consumers’ ally in any fight to keep federal benefits for housing, such as the mortgage interest deduction (MID) on federal income taxes. The MID has been mentioned in some government circles as one of the benefits that could be negated or cut back as the U.S. works to lower the federal deficit.
            “If an email recipient wants more information, he or she will be referred to HouseLogic, NAR’s consumer-facing website. NAR says a second and third set of emails may also be sent to consumers in the coming months if Congress takes any actions that would reduce federal support for homeownership.
            “NAR has posted more information about the email campaign, including a list of FAQs, on its website.” 

Sanibel & Captiva Islands Multiple Listing Service Activity July 27 – August 3

Sanibel
CONDOS
3 new listings: Beach Road Villa #106 2/2 $349K, Nutmeg Village #106 2/2 $649K, Sundial #K203 2/2 $784.5K.
1 price change: Pointe Santo #C32 2/2 now $650K.
1 new sale: Heron at The Sanctuary #2B 3/3.5 listed for $610K.
2 closed sales: Ibis at The Sanctuary #A201 2/2 $310K, Seawind #A103 2/2.5 $410K.
 
HOMES
2 new listings: 688 Cardium St 5/4 $419K, 1056 Sand Castle Rd 3/2 $849K.
8 price changes: 531 Piedmont Rd 2/2 now $314.9K, 2134 Egret Cir 3/2 half-duplex now $369K, 960 Palm St 3/3 now $374.9K (short sale), 2991 Singing Wind 3/2 now $379.9K, 293 Palm Lake Dr 3/2 now $430K, 1603 Sand Castle Rd 3/3 half-duplex, 220 Palm Lake Dr 3/3 now $529K, 553 Lighthouse Way 4/4 now $1.695M. 
3 new sales: 2102 Egret Cir 3/2 listed for $378.9K, 2130 Sunset Cir 3/2 listed for $487K, 731 Nerita St 3/2 listed for $499K.
4 closed sales:  1001 East Gulf Dr 2/2 $377K; 591 Boulder Dr 4/3 $591K; 1290 Bay Dr 3/2 $1,322,500; 5391 Shearwater Dr 3/3.5 $1.495M.
 
LOTS
1 new listing:  2562 Coconut Dr $349K.
1 price change:  1837 Buckthorn Ln now $425K.
1 new sale: 4771 Rue Helene listed for $436K.
 
Captiva
CONDOS
No new listings or price changes.
1 new sale: Captiva Hide-A-Way #1B 2/2 listed for $649K.
No closed sales.
 
HOMES
No new listings.
4 price changes:  11490 Dickey Ln 3/2 now $899K, 15891 Captiva Dr 5/4 now $2.995M, 16645 Captiva Dr 8/9/2 now $3.995M, 16730 Captiva Dr 5/4.5 now $4.695M.
No new sales.
1 closed sale:  11461 Dickey Ln 3/2 $1,027,500.
 
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 the general real estate activity in the community and does not imply that SanibelSusan Realty Associates is participating or participated in these transactions.  If your property currently is listed with another broker, this is not intended as a solicitation of that listing.

Wrapping Up July on Sanibel & Captiva Islands

Posted on by
Reply

It’s been another quiet Friday so far on Sanibel Island, but at SanibelSusan Realty Associates we will be open all weekend looking for real estate buyers and sellers.

Great White Heron aka Great White Egret, photo from our photographer pal, Jim Anderson. Check out his book at discoversanibelandcaptiva.com

Our Sanibel & Captiva Islands Association of Realtors® is looking for a new Association Executive and SanibelSusan is a member of the Search Committee. If you know of any candidates, have them check out the job posting at http://www.realtor.org/ae/ae-jobs.

Update on Blind Pass Dredging Project

SCCF Photo of Blind Pass

After a couple of minor setbacks, a little bad weather from Tropical Storm Debby and broken pump equipment, the Blind Pass Dredging Project is fully underway and just three weeks behind schedule. As of July 11, at the CEPD (Captiva Erosion Prevention District) meeting, it was reported that 3,200 cubic yards of sand have been moved. Beach visitors are reminded to stay a safe distance from the equipment both on the shoreline and in the water. As tempting as it is, shellers must not cross the orange fencing. By the end of the project, 125,000 cubic yards of sand are expected to be pumped out of Blind Pass. Great news for Sanibel’s west end.

Tropical Update

On Wednesday, The Weather Channel released its July update to the 2012 Atlantic hurricane season outlook saying that the 2012 Forecast is for a “Near-Average Season”. We islanders keep a close watch on these updates as they have been accurate in recent years. Here’s hoping I don’t jinx things by mentioning their new report:

            “The updated forecast calls for a total of 13 named storms, 6 of which are expected to become hurricanes, including 3 major hurricanes (Category 3 or higher…).  These forecast numbers are generally near to slightly below the long-term average from 1950-2011 …and below the averages for the current active era from 1995-2011…. Already this season we’ve seen 4 named storms, the first of which, Alberto, formed on May 19, a little less than two weeks before the official start of the season on June 1….The July update cites one potential limiting influence on the number of named storms in 2012.

            “Although we got off to a fast start in 2012, we feel that the heart of the season will be much less active than the last two, as an El Nino event continues to mature slowly and provide an unfavorable environment for tropical development,” said Dr. Todd Crawford, Chief Meteorologist for Weather Services International (WSI), a part of The Weather Channel Companies.

            “Stronger wind shear, a nemesis to tropical cyclone development, tends to appear in parts of the Atlantic Basin in a season in which El Nino has developed.  

            “”The slow emergence of El Nino impacts as summer transitions into fall typically means that the bulk of the activity occurs during August-September, with a fairly quiet back half of the season,” said Crawford.

Bike Path Expansion

(actually The City of Sanibel calls the bike paths, “shared use paths”)

Work began this week with the scheduling widening of the path that runs west of and parallel to Rabbit Road. The path from West Gulf Drive to the south end of the Surf Sound Court cul-de-sac and from the north end of Surf Sound Court to Sanibel-Captiva Road is closed to all traffic during the project which is scheduled to take 60 days to complete. That path runs along a wonderful area of the Sanibel River, so when the work is complete be sure and check it out. It comes out just behind Doc Ford’s Restaurant.

Clyde Butcher’s First On-Line Magazine

Many photography lovers, particularly in Florida, follow the amazing work of Clyde Butcher (www.ClydeButcher.com) best known for his powerful and large black and white landscape and nature photos, often taken in The Everglades. He has a gallery in Venice, but also one in Ochoppe, FL called Big Cypress Gallery. The latter also offers “swamp walks”. Ochoppe is south of the islands, down U.S. 41 past Naples & Marco and in the Big Cypress National Preserve area. It is worth the drive, or you can learn about Clyde Butcher on the internet. Here’s a link to his first on-line magazine that was just posted this week.

Economists Predict Foreign Tourist Lull

An article posted yesterday on Florida Realtors® on-line, from News Service of Florida, applies to areas with international customers, like Southwest Florida. In part, it says:

            “Economic woes in Europe will trickle across the Atlantic over the next few years as potential international guests stay home or see their native currency buy less once they arrive, a panel of state economists estimated this week.
            “Economists from the Florida Legislature and the governor’s office met to recalibrate earlier estimates on a host of indices from housing starts to unemployment. Overall, they made only minor changes to a forecast they last revised in December. They still say Florida is expected to avoid another recession but the rebound will be slow, according to Amy Baker, coordinator of the Legislature’s Office of Economic and Demographic Research. “We are not expecting any dramatic changes in our previous forecast,” Baker said. “We are making some minor adjustments, but that’s about it.”
            “Existing home sales and median prices will continue to be soft, with another wave of foreclosures expected to temper the rising prices. Still, new home starts are up and point to a modest recovery in the construction sector, which has jettisoned nearly 25,000 jobs in the past 12 months.
            “The situation in Europe could complicate Florida’s recovery. Europe is embroiled in debate over the structure and make-up of the European Union, which is experiencing significant financial instability as it decides the fate of Greece and looks at other struggling countries that are a drag on the economy.
            “Florida’s tourism industry may suffer as a result. European travelers have helped buoy the state’s multibillion-dollar market in recent years as favorable exchange rates have led many visitors to Florida’s shores. Such exuberance may ebb as economic uncertainty and a rising U.S. dollar make traveling more expensive. Overseas tourism may drop by up to 2% over the next 12 months before picking up again in 2014. It will not return to robust year-to-year growth until 2015….
            “One bright exception is Canada. Taking advantage of lower gas prices, the flow of Canadians to Florida could increase nearly 6%by the end of 2013, the economists predict. The rebound would be welcome. Canadian tourism dropped 11.4% during the first three months of 2012 largely due to high gas prices.
            “The panel of economists also predicts that Florida job growth will remain sluggish as the state continues to claw its way back following a real estate and housing crash that began in 2007. Even the most optimistic projection has Florida’s unemployment rate above 6% until 2016. Unemployment will gradually decrease over the next few years they project, fueled in part by a reduction in housing inventory and slowly rising home prices.”

Florida Goes Back to School Early

I was astounded this week when Elise mentioned that she already has her back-to-school shopping done. “It’s still July”, I said. Coming from New England, I remember that we often had some of our best summer fun in August. Or maybe that was when the Atlantic Ocean was warm enough for comfortable swimming. Either way, we didn’t go back to school until after Labor Day. Not so, here in Lee County Schools where this year school begins a week earlier than last year. The teachers start August 1 and the school session officially begins for students on August 8.

Come to the Islands Before High Season

Another one of Jim’s photos. Just another island beach!

We year-’rounders are often asked, “When is the best time to come to the islands?” One of the good times from a traffic perspective is after schools begin, but before the snowbirds arrive. For those thinking of making a trip to Sanibel and Captiva late summer or fall, here is a schedule of some of the upcoming events.

AUGUST 2012

1st – Coyote & Bear Tales, Sanibel-Captiva Conservation Foundation (SCCF)

3rd – “The City That Almost Wasn’t & The Sanibel Plan”, SCCF

8th – Gator & Crocodile Tales, SCCF

9th – Turtle Tracks, SCCF

10th – Hurricanes, SCCF

14th – Bobcat Tales, SCCF

17th – Tides, Currents, & The Florida Shelf, SCCF

22nd – Coyote & Bear Tales, SCCF

23rd – Turtle Tracks, SCCF

29th – Gator & Crocodile Tales, SCCF

SEPTEMBER 2012

1st – Lions Pancake Breakfast at The Community House, Sanibel Community Association (SCA)

OCTOBER 2012

3rd – Celebrity Island Waiters’ Fundraiser for The Bailey-Matthews Shell Museum, at Trader’s Cafe & Store

13th – 4th Annual 10K Race for FISH at The Community House

14th to 20th – “Ding” Darling Days

15th to Dec 1 – BIG ARTS Phillips & Founders Galleries Exhibits on Display

NOVEMBER 2012

1st to 4th – CROW & Calusa Blueway Paddling Festival on Causeway Island “A”

1st to Dec 1 – BIG ARTS Phillips & Founders Galleries Exhibits on Display

2nd – BIG ARTS ARTSalon Artists Reception & Awards Presentation

11th – CROW’s 31st Annual Taste of the Islands

13th to 10th – “Becky’s New Car”, BIG ARTS Herb Strauss Theater

24th – All in the Musical Family with Beckie Menzie & Tom Michael, BIG ARTS

Sanibel & Captiva Islands Multiple Listing Service Activity July 20 to 27

Sanibel
CONDOS
1 new listing: Sundial #Q201 2/2 $495K.
2 price changes: Seawind #A109 2/2 now $449K, Shorewood #1D 3/2 now $799K.
1 new sale: Heron at The Sanctuary II #3-B 2/2.5 listed for $599K.
2 closed sales:  Blind Pass #A204 2/2 $340K, Yacht Haven #2 3/2 $775K.

HOMES
No new listings.
4 price changes: 5296 Umbrella Pool Rd 4/4 now $578.5K, 1449 Tahiti Dr 3/3 now $595K, 445 East Gulf Dr 3/2 now $625K, 780 Birdie View Pt 5/4.5 now $1.799M.
3 new sales: 982 Whelk Dr 3/2 listed for $749K, 760 Birdie View Pt 4/3.5 listed for $849K (short sale), 1232 Isabel Dr 3/3 listed for $1,999,999.
3 closed sales: 220 Southwinds Dr 2/2 $390K (our listing), 701 Nerita St 3/2 $495K, 5230 Caloosa End Ln 4/3 $845K.

LOTS
1 new listing: Tarpon Bay Rd $250K.
No price changes, new or closed sales.

Captiva
CONDOS
1 new listing: Bayside Villas #204 1/2 $269K.
No price changes or new sales.
1 closed sale: Tennis Villas #3224 1/1 $225K.

HOMES
No new listings or price changes.
1 new sale: 15158 Wiles Dr 5/4 listed for $1.995M (short sale).
1 closed sale: 16849 Captiva Dr 7/7 $1.85M.

LOTS
No new listings or price changes.
1 new sale: 11535 Murmond Ln listed for $649K (short sale).
No 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 the general real estate activity in the community and does not imply that SanibelSusan Realty Associates is participating or participated in these transactions.  If your property currently is listed with another broker, this is not intended as a solicitation of that listing.

Sanibel & Captiva July Real Estate Action & Local Scuttlebutt

Posted on by
Reply

As another Friday rolls around, The SanibelSusan Team has been checking off items on our off-season “to do” list, wishing we had more buyers in town, marketing for more listings, and enjoying the fine things that a quiet island summer offers. Here is cactus blooming on my street this week, fun to view on the way into work.  

Sharing a Kudo

After a sale, The SanibelSusan Teams sends a feedback form to the buyer or seller we represented hoping to find out why they worked with us, what we did that they liked, and what they wished we had done to provide even better service. SanibelSusan got a chuckle out of one that was returned this week. It was from a condo seller that we have never met, but who listed with us because of our mailings. He said “Good work on selling my property! You listened & communicated. At one point, I asked Susan if we needed to lower the price and she said “no” – very rare for a Realtor®. I was impressed.”

Island Weather

The islands have had no rain since Tuesday, with reports of some African dust in the atmosphere now. It purportedly has no negative effects, but has resulted in some terrific “pink” sunsets the last few nights.

Teammate Lisa was at Sunset Grill on Monday morning when a waterspout was spotted off the beach in the gulf. Here are a couple of pictures she shared. She said it lasted about 15 minutes.

Sanibel Osprey

Most islanders are huge osprey fans, so we were happy this week to receive an email with this up-close photo taken by a new island owner enjoying his first July on Sanibel. Their new family vacation home offers many fabulous photo opportunities. 

The same day as I was driving to meet a pal for lunch at Beachview, I spotted this tree just off Middle Gulf Drive. I originally though it was a group of eagles since they have been known to like the same area, but here is a group of osprey. It’s not often that we see four at once on the same perch.

July Realtor® Membership Meeting

At our monthly Sanibel & Captiva Islands Association of Realtors® membership meeting yesterday, Lee County Commissioner Frank Mann addressed us with an update on the county’s finances. Here is a brief summary of his comments. Overall, county tax values have gone down 45% since their peak in 2007. As a result of this decline in property values, the County ad valor em tax revenues are similarly down or approximately $100M less a year than what they were five years ago. Even with county millage rates held essentially the same since then and with budget cuts, the county has been running upside down to the tune of $30M-$50M/year. This difference has been funded with money invested during the “good years.” Unfortunately, that investment fund is within two years of being depleted ($70M remaining). Property values are expected to increase 2% this year, but obviously, it will take many years to gain back the 45% lost. Though there have been no layoffs, pay for County employees has flat-lined and the number of employees reduced by 150 through attrition. More trimming is needed.

Interestingly, Frank noted that Lee County remains the fastest growing community in Florida and one of the fastest growing in the U.S. He also said that he is often questioned about funds that are spent on the Red Sox and Minnesota Twins stadiums. He clarified that this money comes from tourism dollars (not ad valorem taxes) and that money is required by the state to be spent on things that promote tourism. There has been talk of another professional baseball team moving their spring training here.

Blackstone Group Sells Sundial

An announcement also was made at our meeting yesterday by the manager of John Naumann & Associates, regarding the sale on Monday at Sundial Beach Resort. The general amenities at Sundial previously owned by The Blackstone Group were purchased by CoreState Affiliates who have been offering investor shares. Sundial was purchased by Blackstone some years ago as part of a package deal that included The Dunes Golf and Tennis Club, as well as South Seas Plantation on Captiva. This sale did not include Sundial individual condominium units and included only Blackstone’s holdings at Sundial Resort. Viewed as a positive change for the facility, plans for improvement include over $2M in upgrades to the central amenity area and new rental programs, as well as assistance in unit refurbishment. Best of all, it sounds like the resort again will be open to the public! If you remember earlier days when Sundial had a top-notch restaurant overlooking the gulf and a fun poolside tiki bar that visitors could enjoy just by walking in from the beach, it sounds like those days are coming back!

(P.S. From a Realtor®’s perspective, now is a great time to buy a condo at Sundial. It’s gonna get popular again, Sundial’s conference business will re-blossom, and you know what will happen to prices then.)

Good News For Builders

An article posted earlier this week on Florida Realtors® advises that “builder confidence” is up six points. “Builder confidence in the market for newly built, single-family homes rose six points to 35 on the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) for July – the largest one-month gain recorded by the index in nearly a decade. The HMI is now at its highest point since March 2007….“This report adds to the growing acknowledgement that housing – though still in a fragile stage of recovery – is returning to its more traditional role of leading the economy out of recession,” adds NAHB Chief Economist David Crowe. “This is particularly encouraging at a time when other parts of the economy have begun to show softness and all the more reason that the challenges constraining housing’s recovery – namely overly tight lending conditions, poor appraisals and the flow of distressed properties onto the market – need to be resolved.”

“…Derived from a monthly survey that NAHB has been conducting for the past 25 years, the NAHB/Wells Fargo Housing Market Index gauges builder perceptions of current single-family home sales and sales expectations for the next six months as “good,” “fair” or “poor.” The survey also asks builders to rate traffic of prospective buyers as “high to very high,” “average” or “low to very low.” Scores from each component are then used to calculate a seasonally adjusted index where any number over 50 indicates that more builders view conditions as good than poor.”

GFCI Locations

When buyers or sellers have property inspected, a common defect found is that one or more GFCI’s are either not installed or not operating. Sometimes they even say what is a GFCI? From the “National Electrical Code” here is a quick definition and the requirements. These electrical devices save lives – so it is always smart to get yours checked periodically, even if you are not selling your property.

In simple terms, a GFCI (Ground Fault Circuit Interrupter) receptacle is a device that limits the duration of electrical shocks. As an example, if you were using a metal knife or fork to pull your muffin from a toaster which still is turned on, by touching the toaster inside electrical components, the electrical current now has an extended path to you. If the toaster is plugged into a functioning properly-installed GFCI plug or GFCI breaker-protected receptacle, the GFCI will detect the “leaking” current and disconnect the power as fast as 1/40th of a second. This is less time than it takes for current to damage your body. Without GFCI protection, current is capable of causing heart arrhythmia, eventual stopping of our heart and blood circulation within seconds.

In the U.S., GFCI electrical outlets were first introduced in the early 70’s. They have advanced and became safer through the years. The table below shows various home locations and when the electrical code changed, adding GFCI requirements.

                        1971     1973     1975     1978     1987     1990     1993
Swimming Pool    X          X          X          X          X          X          X         

Exterior                           X          X          X          X          X          X         

Bathroom                                    X          X          X          X          X         

Garage                                                    X          X          X          X         

Basement                                                           X          X          X

Kitchen                                                               X          X          X

Crawl Space                                                                    X         X

Wet Bar                                                                                      X

The 3.8% Tax May Mean You Should Sell in 2012 

Beginning January 1, 2013, a new 3.8% tax on some investment income will take effect. Since this new tax will affect some real estate transactions, it is important to clearly understand the tax and how it could impact you. It is a complicated tax and difficult to predict how it will affect all buyers/sellers, so the National Association of Realtors® (NAR) has developed an informational brochure to help bring Realtors® up to speed on this new tax legislation. It was passed by Congress in 2010 with the intent of generating an estimated $210 billion to help fund President Obama’s health care and Medicare overhaul plans. Understand that this tax WILL NOT be imposed on all real estate transactions, a common misconception. Rather, when the legislation becomes effective in 2013, it may impose a 3.8% tax on some (but not all) income from interest, dividends, rents (less expenses) and capital gains (less capital losses). The tax will fall only on individuals with an adjusted gross income (AGI) above $200K and couples filing a joint return with more than $250K AGI. If you have an interest in how this tax could affect you specifically, be sure to consult your accountant or tax expert. In the meantime, you can view some real estate scenarios and examples in the NAR brochure.

Sanibel & Captiva Islands Multiple Listing Service Activity July 13-20

Sanibel
CONDOS
1 new sale: Sandpiper Beach #105 2/2 listed for $640K.
1 closed sale: Oceans Reach #2D2 2/2 $725K.
 
HOMES
No new listings. 
1 price change: 919 Almas Ct 3/2.5 now $1.1M.
2 new sales: 1702 Sand Pebble Way 3/2.5 listed for $399K, 940 S Yachtsman Dr 3/2.5 listed for $499K.
4 closed sales: 1621 Sand Castle Rd 3/2 $389K, 585 Lake Murex Cir 3/2 $540K, 561 Lake Murex Cir 3/2.5 $560K, 1274 Par View Dr 3/3 $590K.
 
LOTS
1 new listing: 3792 Coquina Dr $399K.
No price changes.
No new or closed sales.

Captiva
CONDOS
Nothing to report.
 
HOMES

No new listings, price reductions, or new sales.
1 closed sale: 11512 Andy Rosse Ln 2/2 $850K.

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 the general real estate activity in the community and does not imply that SanibelSusan Realty Associates is participating or participated in these transactions.  If your property currently is listed with another broker, this is not intended as a solicitation of that listing.

Happy weekend!

Gearing up on Sanibel & Captiva Islands to say, “Happy Birthday, USA”

Posted on by
Reply

The SanibelSusan Team is fired up for more island visitors and hopefully more real estate activity over the upcoming holiday week. Some of my mates are off on Wednesday for the 4th, but SanibelSusan will be in the office offering water and a cool respite to those parade-watchers who annually gather outside our front door. If you are in the neighborhood, bring your lawn chair too, the area in front of the SanibelSusan Realty office is a terrific vantage point for the morning festivities. See the schedule of events below and some real-estate related news items, followed by the week’s report of the activity posted in the Sanibel and Captiva Islands Multiple Listing Service. 

July 4th Holiday Schedule of Island Events

7 to 9 a.m. Pancake Breakfast before the parade at the Sanibel Community Church (1740 Periwinkle Way, next to Jerry’s Center) to benefit the Sanibel campus of Summit Christian Preschool which is at the church.

9:30 a.m. Parade beginning at Tarpon Bay Road & Periwinkle Way (Bailey’s Center) ending at Periwinkle & Casa Ybel Rd (Jerry’s Center). Theme is “Sanibel is #1”.

9:30 a.m. to 1:30 p.m. Post-Parade Celebration at Jerry’s Center with free snow cones, hot dogs & soda, water slides, dunk tank, bounce house, & face painting, with donations   for The Boy Scouts of America.

11 a.m. – 4 p.m. Backyard Barbeque at Bailey’s Shopping Center, right after the parade, featuring live music, beer, hamburgers, hot dogs, pulled pork, & other foods.

noon Road Rally starts at The Timbers (703 Tarpon Bay Rd), sponsored by the Sanibel-Captiva Optimist Club. Theme is “Rallying for Island Youth”.

6  to 9 p.m. July 4th Celebration at The Dunes Golf & Tennis Club with children’s games & contests including a putting competition & pool party. Food & beverages available, including pig roast, hot dogs, hamburgers, chicken, cotton candy, & ice cream. The fireworks are visible from here too. (Parking $5)

7 to 10:30 p.m. Sunset Fireworks Cruise aboard the Lady Chadwick, with Danny Morgan performing. Call Captiva Cruises for reservations 472-5300.

Dusk Fireworks at the end of Bailey Rd. with free parking on the causeway.

Post Tropical Storm Debby

I am thankful to report that the sun is out once again and southwest Florida has returned to its normal summer weather routine – bright blue skies, with occasional big white popcorn clouds followed by an afternoon shower, then clearing, and magnificent sunsets. Other than some damaged turtle nests, a downed tree at West Wind Inn, a couple of roadways flooded for a few hours, and a bit of erosion in front of The Mucky Duck Restaurant on Captiva, Sanibel and Captiva came through the storm unscathed. (Check out the web cam at The Mucky Duck.)

The photo above was taken on Tuesday at the Lighthouse Point beach, while the photo below was taken the next day from the beach at West Wind Inn, as the storm was subsiding.

The photos below were posted on Facebook by Judie Zimomra, our terrific Sanibel City Manager. They are good examples of what the causeway bridge looked like during Debby’s wind and rain, and then just after.

Dave and I were out showing Sanibel canal-front property off Dixie Beach Boulevard on Tuesday afternoon just before high tide. It was surprising how quickly that roadway flooded during just the hour-plus that we were out there. Dave took these about 3 p.m. By the next day, it was dry.

A quick drive through the island on Wednesday revealed some erosion on the sandy road to the lighthouse and a small section of Woodring Road – nothing that a little fill or some riprap wouldn’t resolve.

Sanibel & Captiva Islands Visitors Center Ranked #1

With more than 96% of reviewers giving high ratings, the Sanibel & Captiva Islands Chamber of Commerce Visitors Center received a #1 ranking by TripAdvisor. With over 190,000 annual visitors, the Center is open daily from 9 a.m. to 5 p.m. TripAdvisor is an online website designed for travelers to review and rank places and businesses visited, including reviews and advice on accommodations at hotels, resorts, and vacation rentals, flights, travel guides, etc.

Evaluation of The Sanibel Plan 

An article posted this week by “Island Sun” reporter Anne Mitchell advises that the Sanibel Planning Commission is nearing the end of its months-long elevation of The Sanibel Plan. The state requires a report from all municipalities every seven years to determine whether amendments are necessary to reflect changes in state requirements. Changes such as population shifts, visitor numbers, the economy and development are considered. The result is that the 7-member commission has been going through the plan before sending any proposed amendments on to the City Council. According to the report, City Council reviewed service standards last year and retained current levels. Services reviewed included drainage systems, roads, libraries, schools, fire stations and water supply. A population projection indicates little change in the next ten years. Sanibel currently has a population of 6,470, which could increase to between 6,700 and 6,900 in 2022 (data from University of Florida Warrington College of Business Administration, the Bureau of Economics and Business Research (April 2011) and the Sanibel Planning Department). Seasonal population could increase from 11,730 in 2011 to about 12,120 in 2022. On the topic of future land use, changes reflect factors such as acquisitions by The Sanibel-Captiva Conservation Foundation (i.e. land removed from the commercial sector and placed under conservation lands.) Only ~35,000 sq. ft. of commercial remains undeveloped, based on the Commercial District Map. The capital improvements segment notes that Sanibel “has essentially reached build-out and is in a redevelopment phase,” with over 92% of dwelling units permitted having already been built.

More Americans Expect Home Prices to Rise

An article posting on HousingWire earlier this month covers a recent Fannie Mae survey and has some positive news. It says:

            “More Americans are optimistic that home prices will inch up over the next year, and they expect prices to rise at least 1.4% in that timeframe. That marks the highest amount ever recorded in Fannie Mae’s monthly National Housing Survey. Thirty-four percent – also the highest ever recorded – of 1,000 respondents in the May housing survey say they expect to see a boost in home prices in the next year. Forty-one percent say they think mortgage rates also will rise over the next year.
            ““Both indicators suggest the potential that consumers may consider moving off the sidelines to purchase a home,” according to the survey analysis. Survey respondents also say they expect rental prices to continue to edge up over next year, projecting a 4.1% increase in that period.
            “Still, a slowdown in the pace of new jobs and income growth is creating a plateau in consumer sentiment that might delay a full recovery in the housing market, according to Fannie Mae’s survey. Fifteen percent of those surveyed reported that their household income is significantly lower than it was 12 months ago, which marks a record low in the annual survey.
            ““Our May consumer data show that Americans are taking a ‘wait and see’ approach about buying or selling a home,” says Doug Duncan, Fannie Mae’s chief economist. “This is not surprising given their assessment that their income during the past 12 months and their personal financial expectation for the next 12 months have leveled off. … Current jobs data are reminiscent of the spring slowdown that continued into the summer months during the last two years.
            ““If this pattern continues, we do not expect to see any significant upturn in consumer sentiment during the summer, and a meaningful housing recovery likely will be delayed once again.”” 

Florida’s Frank Gregoire’s Testimony

Frank on the The Hill 06-28-2012

Frank Gregoire is a long-time friend and colleague from St. Pete, also active in our Florida Realtors® leadership team, but from an appraiser’s side of the real estate business. Frank yesterday represented the National Association of Realtors® at the nation’s capitol speaking to the U.S. House of Representatives Committee on Financial Services Subcommittee on Insurance, Housing, and Community Opportunity before the Appraisal Oversight Hearing. His testimony is an excellent overview of the myriad of problems encountered today in the appraisal business and how they hinder real estate recovery and home ownership. Titled, “Appraisal Oversight: The Regulatory Impact on Consumers and Businesses”, I encourage you to read it: http://appraisersblogs.com/appraisal/statement-of-frank-gregoire-nar-before-appraisal-oversight-hearing/

Sanibel & Captiva Islands Multiple Listing Service Activity June 22-29:

Sanibel

CONDOS
1 new listing: Villa Sanibel #2H 2/2 $495K.
1 price change: Sundial #H211 1/1 now $275K.
2 new sales: Captains Walk #F7 2/1.5 listed for $227K, Sundial #E305 2/2 listed for 835K.
4 closed sales: Seashells #37 2/2 $250K (our listing), Lighthouse Point #217 3/2 $302K, Signal Inn #2 1/1 $330K, Pine Cove #102 3/2 $775K.
 
HOMES
2 new listings: 656 Anchor Dr 3/2 $685K, 848 Limpet Dr 3/2.5 $1.299M.
4 price changes: 2991 Singing Wind Dr 3/2 now $389.9K, 2130 Sunset Cir 3/2 now $487K, 1511 Angel Dr 3/2 now $679K, 1206 Par View Dr 3/2 now $699K.
2 new sales: 531 Piedmont Rd 2/2 listed for $319K, 1086 Sand Castle Rd 3/2 listed for $544K.
4 closed sales: 1657 Sand Castle Rd 2/2 half-duplex $325K, 1360 Eagle Run Dr 5/3.5 850K (short sale), 926 Whelk Dr 4/3 $1.148M, 1069 Bird Ln 4/3.5 $2.4M.
 
LOTS
1 new listing: 9426 Sage Ct $279,555.
1 new sale: Beverly Ln listed for $149K.
1 closed sale: 568 Lighthouse Way $1.175M (with house).
 
Captiva
CONDOS
No new listings or price changes.
1 new sale: Tennis Villas #3224 1/1 listed for $260K.
2 closed sales: Marina Villas #901 2/2 $475K, Lands End #1664 3/3 $1.31M.
HOMES
1 new listing: 15301 Captiva Dr 4/3.5 $2.5M.
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 the general real estate activity in the community and does not imply that SanibelSusan Realty Associates is participating or participated in these transactions. If your property currently is listed with another broker, this is not intended as a solicitation of that listing.

 

Happy Birthday, USA, & best wishes for a terrific 4th of July!

Island Real Estate, Black Bear, Weather, Tarpon, & Other Scoop

Posted on by
Reply

Sanibel & Captiva Real Estate This Week

It was another very quiet week here on the real estate front. Too quiet! Even our monthly Association of Realtors® membership meeting yesterday had little activity reported with just a handful of new listings announced in the 2-week period since our last caravan. Our speaker was Chauncey Goss, son of Sanibel first mayor and past CIA Director Porter Goss.  Chauncey and his family live on Sanibel and he is running for Congress, though he could not speak to us from a candidate perspective (one of those rules we have for our membership meetings). With much of Chauncey’s professional work directly related to fiscal policy analysis and federal budgeting, his presentation was called “Budget 101”. It was quite an eye-opener, even for those of us who follow the Washington grapevine, an excellent presentation though with disheartening content about the country’s financial woes.

Sanibel Bear

This slideshow requires JavaScript.

Our big news yesterday afternoon was that the Sanibel bear (a juvenile male black bear) was captured near the lighthouse, tranquilized by Florida Fish and Wildlife Conservation Commission employees (FWC), and relocated off island to an undetermined wilderness area. The bear was first detected on the island last June, when a remote wildlife camera at J.N. “Ding” Darling National Wildlife Refuge caught it on a night camera when it was roaming preserve land. It was photographed then by a motion-activated infrared camera at the Bailey Tract. Since last year, there have been sightings with the bear living quietly in and around the Wildlife Refuge. Few people actually saw it.

In recent weeks, however, it was spotted in different east-end locations, roaming beyond the Refuge and conservation land, and over the past 10 days, it began to demonstrate nuisance behavior. The City of Sanibel Natural Resources Department, Sanibel Police Department, Public Works Department and the National Wildlife Refuge, worked in conjunction with FWC to safely relocate the bear off-island.

According to Mike Orlando, the FWC assistant bear program coordinator, it was a dispersing bear (looking for its own territory) and almost certainly swam to the island. “We know that bears swim well,” Orlando said. “We’ve found them many miles offshore swimming in the Gulf of Mexico. Why, we don’t know. Whether it came over from St. James City or up from Big Cypress, where there is a very healthy bear population, through Bonita, that swim is nothing for a bear.”

Over the next year, it was a “good bear,” Orlando said, but about two weeks ago, it started moving around, and Sanibel city officials started getting calls. “Most likely, it started getting restless, looking for a female,” Orlando said. “He changed his behavior from being reclusive to wandering all around.”

Though it never actively threatened anyone, with the bear being around people, officials decided to capture and relocate it. “The bear was never a threat to humans,” Orlando said. “We got within 10 feet of it (Wednesday), and it just took off.” Sanibel environmental planner James Evans saw the bear Thursday morning near Sanibel’s Lighthouse Beach and called FWC wildlife officials, who shot the animal with a tranquilizer dart at about 12:30 p.m.

“We’re helping this bear off the island,” Orlando said. “It might have left on its own. We’re just making it a little quicker.” Orlando measured the bear (6.2′ long), estimated its weight (250 pounds) and age (2½ to 3½ years), clipped a tag to its ear, tattooed its lip, pulled some hair for genetic analysis and a tooth to determine its age. Orlando wasn’t sure where the bear would be released. “We know it won’t be Big Cypress,” he said. “There’s a population of about 800 bears down there, and adding yet another dispersing bear wouldn’t be wise.”

In making this announcement on http://www.mysanibel.com/Departments/City-Manager-s-Office/News/Sanibel-Black-Bear-Relocated-Off-Island, Sanibel City Manager Judie Zimomra said, “Through our Vision Statement, the City of Sanibel places the highest priority on protecting wildlife and wildlife habitat. In the case of this black bear, over the past two weeks, it became very clear his opportunity to live a long happy life would be best off-island where he can find a mate and live the remainder of his years happily and safely in a more natural, non-residential bear habitat.” Zimomra further stated, “Over the last several days as the bear began to frequent neighborhoods, including porches, our community was extremely helpful in detecting the bear’s patterns with their prompt phone calls to the Sanibel Police Department, reporting the whereabouts of the bear. Additionally, through their knowledge of our island and habitat, our City employees were particularly useful partners to the FWC during this endeavor.”

Black bears are native to Florida and are protected under state and federal laws. Dwindling populations in Florida has caused this sub species to be listed as “threatened” under the Endangered Species Act. It is illegal to approach or harass this animal.

Island Weather

This week while our local weather stations have reported hot weather throughout much of the U.S., it seems that the makings for a tropical depression were forming in the gulf. Island weather all week has been high 70’s to low 80’s, partly cloudy with an occasional shower, enough to make vacationers at times unhappy, but really just typical Florida in the summer. This morning there were rumblings that the same weather will probably continue for the next few days with a greater possibility of that depression forming over the next day or so. It is just the time of the year when we need to keep a close eye on the weather channel. We received our hurricane passes from the City this week so we hope that being prepared works like bringing your umbrella into the office to prevent the rain. That did not work too well today as a steady rain began at noon. It is now expected to continue until this storm makes its next move or disperses. Here is a link to the National Weather Service’s Hurricane Center.

What To Do On Sanibel

As I learn more and more about social media and how to become a better blogger (i.e. better business person), I occasionally come across someone else’s blog that I find worth sharing. Here is one that I happened upon this week. It is written by journalist gal who specializes in world travel and has come to the islands many times. She has some good points about the islands and in this blog responds to the question “What to do on Sanibel Island?”  “Chris Around the World, Your Guide to Value Luxury Vacations”

 Another July 4th Happening

For the holiday early birds, it was announced this week that on July 4th, before the parade, the Sanibel Community Church will host a pancake breakfast to benefit the Sanibel campus of Summit Christian Preschool. From 7 to 9 a.m., the community is invited to enjoy a hearty all-American breakfast with all donations to support the preschool which is located at the church (1740 Periwinkle Way, next to Jerry’s Supermarket).

The day of the 4th now is filled with events from morning until night with this breakfast, morning parade, noon road rally, afternoon holiday party, and fireworks at dusk.

Tarpon Fishing

I heard some rumblings this week about Doc Ford’s pulling their entry out of a recent local Tarpon Tournament, so I checked out Randy Wayne White’s website for more info. Many of you know that Randy was a local fishing guide, before he became such a renowned author and co-owner of the Doc Ford’s restaurants (named after his books’ main character). Fishermen interested in tarpon, may find the article posted on Randy Wayne White’s Doc Ford’s Website fascinating. Local book worms may also enjoy reading about Randy’s latest book. When Elise’s family was vacationing on the island last week, they were happy to meet Randy in person when they stopped at Doc Ford’s on Sanibel, and a discussion about sharks ensued.

Sundial Resort Scoop

I recently ran into a couple of the principals involved in the purported upcoming sale of the resort. Since Realtors® try to be cognizant of the confidentiality in announcing a pending transaction, my lips are sealed on the details; but stand by for some good news regarding Sundial. There should be more to report in a couple of weeks. Meanwhile, here is a quick update of Sanibel inventory and sales this year, compared to 2011, followed by the activity announced this week in the Sanibel and Captiva Islands Multiple Listing Service.

SANIBEL SALES STATS

                                 CONDOS              HOMES               LOTS        
                               No./Avg Price $     No./Avg Price $     No./Avg Price $                  
For sale:                 176/639,341          205/1,238,924        84/610,979
Pending sales:        20/577,945           31/1,026,722           4/631,000
Sold & closed in:
2012 thru 6/22       100/560,593           97/817,087              19/391,621
2011 all year          142/591,861           179/826,130            19/363,729

Sanibel & Captiva Islands Multiple Listing Service Activity June 15-22:
 

Sanibel
CONDOS
No new listings.
2 price changes: Sundial #G207 1/1 now $239.9K, Sundial #D412 1/1 now $305K.
4 new sales: Captains Walk #F7 2/1.5 listed for $227K, Kings Crown #212 2/2 listed for $599K (our listing), Sand Pointe #212 2/2 listed for $629K, High Tide #B202 2/2 listed for $1.4775M.
5 closed sales: Seashells #26 2/2 $242.5K, Sanibel Moorings #1412 1/1 $260K, Tennisplace #C31 2/1.5 $255K, Kings Crown #215 2/2 $550K, Sundial #T207 2/2 $818K.
 
HOMES
5 new listings: 1193 Kittiwake Cir 4/3 $699K, 1441 Causey Ct 3/2 $739K, 1234 Middle Gulf Dr 3/2 $795K, 804 Birdie View Pt 3/3 $1.199M, 912 Almas Ct 3/2.5 $1.249M.
5 price changes: 1125 Captains Walk St 2/2 now $499.9K; 2166 Egret Cir 3/2 now $539,555; 1263 Par View Dr 5/2.5 now $699K; 2449 Harbour Ln 2/2 now $895K; 6440 Pine Ave 3/2.5 now $1.85M.
5 new sales: 1603 Sand Castle Rd 3/3 half-duplex lissted for $445K, 561 Lake Murex Cir 3/2.5 listed for $629K, 591 Boulder Dr 4/3 listed for $629K, 2294 Wulfert Rd 4/4 listed for $998K, 2228 Starfish Ln 3/2.5 listed for $1.25M.
1 closed sale: 4630 Rue Bayou 4/4.5 $1.145M.
 
LOTS
1 new listing: 4771 Rue Helene $436K.
No price changes.
2 new sales: 5044 Joewood Dr listed for $499K, 568 Lighthouse Way listed for $1.3M.
2 closed sales:  637 Sea Oats Dr $250K, 2251 Starfish Ln $261.9K.

Captiva
CONDOS
1 new listing: Gulf Beach Villas #2004 2/2 $679K.
2 price changes: Bayside Villas #5308 3/3 now $579K, Captiva Bay Villas #2 3/3.5 now $1.998M.
1 new sale: Captiva Bay Villas #D 3/3.5 listed for $2.995M.
1 closed sale: Bayside Villas #5234 1/2 $262.5K. 

HOMES
No new listings.
1 price change: 56 Sandpiper Ct 2/2.5 now $669K.
1 new sale: 11514 Andy Rosse Ln 4/4 listed for $2.395M.
No 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 the general real estate activity in the community and does not imply that SanibelSusan Realty Associates is participating or participated in these transactions. If your property currently is listed with another broker, this is not intended as a solicitation of that listing.