Sanibel Bunnies, Easter, & Real Estate


Though the national news this week has been filled with reports of late snow and winter storms up north, on Sanibel and Captiva Islands the weather again has been almost summerlike, including a couple of midweek showers.

marsh bunnyHere at SanibelSquare the bunny population continues to explode. I haven’t been able to get to my phone quickly enough to get a photo of the entire group at once. Usually when I am leaving in the office in the evening, I am the last car out of the parking lot. That’s when they are out chowing down on the grassy area in front of my car.

I’ve seen as many as six together (three grown-ups and three small ones). They sure are cute. I’m featuring a few photos of them in my Easter ad next week in the “Island Sun”.

SanibelSusan’s Real Estate Market Predictions

An island homeowner who lives in Gumbo Limbo dropped in at the office recently and asked about the real estate market. He often bikes his neighborhood and was surprised to see so many “for sale” signs.For sale sign

Gumbo Limbo probably offers a good market representation. Today, there are 13 homes for sale there. In a community with fewer than 200 properties, to the passer-by, that may seem alike a lot for sale at once. Looking at the community’s sales history, in 2017, 12 Gumbo Limbo homes sold. Last year, only six, plus a vacant lot. Year-to-date one home has sold and closed, while two other homes and our lot listing are under contract.

Do these numbers reflect that inventory is up and are prices down? Yes, inventory is up and prices may be trending down, but it probably is too soon to make that prediction. I prefer to view the status of the market today as a correction to the downturn caused by the water quality issues of last summer.

When I stopped on my way home midweek to view the progress at our bayfront listing that is undergoing renovation, I couldn’t help but take a couple of pictures of the water in San Carlos Bay (see below). Unlike its appearance last fall, it was as beautiful as I remember seeing it, in all my 30-some years here. You know the look, sparkling clear and bright teal in color, like often photographed in the Caribbean.

04-10-19 San Carlos 104-10-19 San Carlos 2

Inventory is up because there have been fewer sales. Fewer visitors came to the island this winter. Traffic reports about causeway traffic indicate that fewer cars came onto the island last month which usually is the busiest month here. Late 2018 traffic was off even more. I’ll never forget the times last year that I drove across the causeway and did not see a vehicle (on land or water) or a person or bird in any direction. It was eerie.

The good news is that from that catastrophe, more positive “water” things are happening, more people are involved, more water solutions are in the works, more money is being allocated to fund solutions, and construction is underway on others. Unfortunately, the results of those efforts take time to implement. Seems that the good news takes longer to disseminate than the bad news – which seems to spread fast!

Perhaps some would-be first-time island winter visitors this year decided to vacation elsewhere. Can’t blame them for that, if they don’t really know what the beaches and waterways really are like. Future rental bookings with many income-producing properties are showing less income this year too.

What will happen to the islands’ real estate market in the upcoming months? That’s tough to predict. Often there are buyers that return in the spring who are folks that vacationed here in the winter but could not view all the listings that met their requirements. This year there are plenty of choices for those returning prospects.

In the spring, do these buyers sometimes try to negotiate better terms thinking sellers may not want to hold a property over the slower summer selling season which also is hurricane-prone rainy season? I’m sure you know the answer to that.

Some folks think the economy and political unrest are affecting the market today. They may be true to some extent, but I think that island lovers will continue to see the value in owning a piece of paradise where winter weather is tropical, development is controlled, island ambience is like stepping back in time, and concerned citizens are pro-environment and taking action to protect the areas we live in, work in, and love.

Some also say that the upcoming Federal elections in 2020 will affect real estate sales here. It could be that the islands are immune to that hype. Historical data does not support that elections affect sales, other than maybe the few days around and including the actual voting day.

crystal ballMy crystal ball says that provided there are no national emergencies or hurricanes, the Sanibel and Captiva market will continue to rebound from the downturn of last year. Yes, it’s a good time to buy because there is plenty of good inventory, but it also is a good time for sellers, particularly those that have their properties priced right.

Upcoming Holiday Happenings

In response to inquiries about events over the holiday next weekend, here is a summary:

Helping Those Needing a Hand-Up

F.I.S.H. of Sanibel-Captiva is assembling Easter food and bunny baskets for those in the community needing a hand-up during the holiday. To donate items, please call 239-472-4775. Distributions will be on April 17 & 18.

Family Events

  • happy easter“25th Annual Spring Festival” to benefit The Children’s Center of the Island at Sanibel Community Park, across the street form SanibelSusan Realty, Saturday, April 20 from 9 to 11 a.m. with Easter egg hunt for children of all ages followed by pony & unicorn rides, face painting, slide, games/crafts, & more. The Easter bunny will be there for photos at 10:15 a.m.
  • “Community Easter Egg Hunt” at Sanibel Community Church, Saturday, April 20 from 11 a.m. to 1 p.m. includes thousands of eggs, pony rides, games, bounce houses, face painting, lunch, & more.
  • “Annual Easter Egg Hunt & Dolphin Cruise” by Adventures in Paradise aboard 45’ power catamaran departing at 9 a.m. Easter Sunday from Port Sanibel Marina, reservations needed 239-472-8443.Sanibel farmers market bike

Sanibel Farmers Market – open Easter Sunday 8 a.m. to 1 p.m. on the grounds of City Hall.

Easter Sunday Services

  • “Annual Sunrise Celebration on the Beach” by Sanibel Community Church on Causeway Island A at dawn. More info at www.SanibelChurch.com
  • Also, services at the church (Sanibel Community Church) at 8, 9, & 11 a.m.
  • Captiva’s Chapel by the Sea at 11 a.m. More info at www.CaptivaChapel.com
  • Sanibel Congregational United Church of Christ services at 7:45, 9, & 11 a.m.
  • Saint Isabel Catholic Church services at 7, 9, & 11 a.m.
  • St. Michaels & All Angels Episcopal Church services at 7:30, 9:30, & 11:30 a.m.

Easter Eats

  • “Easter on the Gulf” at Sundial Beach Resort with seating on the hour from 10 a.m. to 4 p.m. Call for reservations 239-395-6017.
  • “Sunday Brunch Buffet” at The Fish House Restaurant from 9 a.m. to 2 p.m.
  • “Easter Dinner” at Traditions on the Beach from 4 p.m., reservations recommended 239-472-4559

Recession Fears “Over Blown”

Florida Realtors logoPosted Wednesday on FloridaRealtors® on-line, this article has an interesting perspective on how past recessions affect home values.

Arch-logo“GREENSBORO, N.C. – Apr 10, 2019 – Research on how past recessions affected home values shows current conditions – including a shortfall in housing construction – likely mean the next recession will have a less severe impact on housing than the recession in 2008 did, according to the spring edition of The Housing and Mortgage Market Review (HaMMR) by Arch Mortgage Insurance Company.

“Housing market trends are now nearly the complete opposite of conditions in the months prior to the Great Recession, according to Dr. Ralph G. DeFranco, global chief economist for Arch Capital Services. “A recession is inevitable at some point, but it’s likely to be far less severe for the housing market than the Great Recession,” DeFranco says. “We estimate that the current market is underbuilt by 1 million or more homes, buyers are more cautious and loan quality is far higher. In 2007, conditions were completely flipped: housing was hugely overbuilt, speculative demand was off the charts and the market was awash with high-risk loan products.”

“DeFranco also notes that home prices were overvalued by 25% or more then and are closer to expected values now. “In the 11 recessions recorded over the past 80 years, major price declines for housing have been more the exception than the rule, with home values only turning negative once in the five recessions since 1975,” he says. “The ongoing housing shortage is likely to limit price declines in a recession to 0-5% for a year or two before home values start to recover.”

“The quarterly Arch MI Risk Index, a statistical model based on nine indicators of the health of local housing markets, suggests that the probability U.S. home prices will be lower in two years is 9%, an increase from 6% in the previous HaMMR.

“In Florida, an Arch index infographic suggests that Florida home values have only a 6% chance of declining in two years. However, a higher risk (25%) in Miami suggests the chances are even lower in the rest of the state.

Nationally, the overall risk of a decline in home prices remains better than the historic average of 17%. Every state is expected to have positive home price growth over the next two years, continuing recent trends.

“The states with the highest risk of lower home prices in two years are North Dakota (27%), Alaska (24%), Wyoming (23%) and Connecticut and West Virginia, both at 22%.

“Among the 100 largest metros, the areas with the highest risk of having lower home prices in two years are Miami and San Antonio, Texas (25%), because of overvalued home prices. Those areas are followed by three metros in Connecticut – Bridgeport-Stamford, Hartford and New Haven (all at 22%) – which have shrinking populations of homebuyers and a state economy that lags behind the nation.”

Sanibel & Captiva Islands Multiple Listing Service Activity April 5-12, 2019sancap GO MLS logo

Sanibel

CONDOS

6 new listings: Seashells #15 2/2 $439K, Captains Walk #F4 2/2 $349K (our listing) (exterior photo below – professional interior photos & streaming video coming after estate sale next week), Mariner Pointe #952 1/1 $429K, Sanibel Siesta #601 2/2 $689K, Sanctuary Golf Villages I #1-4 3/3 $899K, Gulf Beach #107 2/2 $925K.

9 price changes: Donax Village #10 1/2 now $339K, Sundial #I103 1/1 now $465.9K, Breakers West #A5 2/2 now $499.9K, Sunset South #1A 2/2 now $720K, Sanibel Moorings #1111 2/2 now $969K, Kings Crown #102 2/2 now $1.05M, Bandy Beach #B101 3/2 now $1.299M, White Pelican #133 3/3 now $1.595M, Sandals #A 3/3.5 now $1.997M.

1 new sale: Gulfside Place #305 2/2 listed at $1.249M.

3 closed sales: Sunset South #9B 2/2 $565K, Sand Pointe #228 2/2 $740K, Pine Cove #204 3/2 $1.5M.

HOMES

13 new listings: 785 Rabbit Rd 3/2 $479K; 745 Martha’s Ln 3/2 $495K; 9406 Beverly Ln 3/2 $629K; 1585 Bunting Ln 3/2 $649K; 1731 Serenity Ln 4/3 $699,999; 1175 Sand Castle Rd 3/3 $759K; 728 Windlass Way 3/2 $897K; 788 Nerita St 3/3 $949K; 845 Birdie View Pt 3/3 $1.169M; 1667 Venus Dr 3/2 $1.2M; 4156 West Gulf Dr 3/2 $1.329M; 2190 Starfish Ln 3/3 $1.444M; 1718 Jewel Box Dr 4/4.5 $2.699M.

17 price changes: 3017 Turtle Gait Ln 3/2 now $679K; 198 Southwinds Dr 3/2 now $719.9K; 280 Southwinds Dr 3/3.5 now $739K; 1559 Sand Castle Rd 3/2 now $759K; 702 Durion Ct 3/2 now $759K; 513 Lake Murex Cir 3/2 now $769K; 686 East Rocks Dr 3/2 now $799K; 1410 Albatross Rd 3/3 now $849K; 1307 Par View Dr 3/3 now $899K; 446 Surf Sound Ct 3/2 now $999,999; 466 Sea Oats Dr 4/3.5 now $1.149M; 829 Birdie View Pt 4/3.5 now $1.15M; 430 Glory Cir 4/5.5 now $1.275M; 1525 San Carlos Bay Dr 4/2 now $1.4695M; 6425 Pine Ave 4/3 now $1.489M; 1035 Blue Heron Dr 3/2 now $1.539M; 4143 West Gulf Dr 3/3.5 now $5.995M.

9 new sales: 6141 Henderson Rd 2/1.5 listed at $424.5K, 1870 Farm Trl 3/2 listed at $575K, 1442 Sand Castle Rd 3/2 listed at $649K, 750 Martha’s Ln 3/2 listed at $699K, 1217 Par View Dr 3/3 listed at $729K; 4791 Rue Helene 3/2 listed at $850K, 1550 Sand Castle Rd 3/3 listed at $1.189M, 2282 Wulfert Rd 4/4.5 listed at $1.245M, 599 Lake Murex Cir 3/3.5 listed at $1.399M.

4 closed sales: 9248 Dimmick Dr 3/3 $580K, 1438 Causey Ct 3/2 $849.5K, 1260 Par View Dr 3/3 $889K, 569 Lighthouse Way 3/3 $970K.

LOTS

2 new listings: 2462 Wulfert Rd $229K, 2133 Starfish Ln $419K.

2 price changes: 6411 Pine Ave now $329K, 1219 Par View Dr now $349K.

2 new sales: 1204 Par View Dr listed at $329K; 5321 Punta Caloosa Ct listed at $377,555.

No closed sales.

Captiva

CONDOS

No new listings.

1 price change: Sunset Captiva #103 2/2 now $829K.

No new, or closed sales.

HOMES

No new listings or price changes.

1 new sale: 16798/802 Captiva Dr 4/4 listed at $5.75M.

No closed sales.

LOTS

Nothing to report.

This representation is based in part on data supplied by the Sanibel & Captiva Islands Association of Realtors® Multiple Listing Service. Neither the association nor its MLS guarantees or is in any way responsible for its accuracy.  Data maintained by the association or its MLS may not reflect all real estate activity in the market.  The information provided represents the general real estate activity in the community and does not imply that SanibelSusan Realty Associates is participating or participated in these transactions.

Until next Friday… enjoy your weekend, Susan Andrews aka SanibelSusan

 

Update of Island Real Estate & Life on the Gulf of Mexico


It has been another week of beautiful summer-like weather on the islands.

Photos below taken by JMA Photography at Gulfside Place where The SanibelSusan Team has a new listing overlooking this beautiful Gulf of Mexico beach. On the 2nd floor, this condo was just remodeled top-to-bottom.DCIM100MEDIADJI_0893.JPG

 

Island traffic and occupancy are down a little, making the Periwinkle trek more manageable than in recent weeks. For buyers, now through Memorial Day is an excellent time to both look and purchase.

Sanibel realtors logoAt the Sanibel & Captiva Islands Association of Realtors® Caravan meeting yesterday, a handful of new sales were announced, along with more price reductions. Just nine new west-end listings open for viewing. The east-end one week, west-end the next, Caravan rotation will end this month with new listings in any location allowed beginning May 1 and running through the summer.

The action posted since last Friday in the Sanibel & Captiva Islands Multiple Listing Service follow a couple of news items. Inventory on both islands remains high with vacation rentals tapering off as northern weather improves and snowbirds head home.

Sanibel Historical Village Remains Open During BIG ARTS Construction

Museum LogoThe Sanibel Historical Village will remain open during the ongoing BIG ARTS construction project. The project will continue through the remainder of the historical village’s season and into next season, with parking and access available for village guests and volunteers.

Last week, the traditional entrance to the village was closed off and a new temporary entrance made, just west of the former exit drive. That drive will now function as both an entrance and exit access. Signs were added at both places.

Touring-the-Sanibel-Historical-Village-MuseumThe Sanibel Historical Village is open Tuesdays through Saturdays from 10 a.m. to 4 p.m. with guided tours at 10:30 a.m. and 1:30 p.m. The village is at 950 Dunlop Road (next to BIG ARTS) and there is handicap access to the buildings. Admission is $10 for adults over 18, with members and children free. For more info or to donate, visit http://www.sanibelmuseum.org or call (239) 472-4648.

Condos, Rentals, Etc.: If You Break It, You Fix It

Florida Realtors logoSourced to Florida real estate attorney, Gary M. Singer, the below article was posted on-line at FloridaRealtors®.

“April 1, 2019 – Question: The tub in my condo flooded and my kitchen and the public hallway were damaged. I do not have insurance. My association wants me to pay for the repairs. Do I have to? – Alina

Question: I replaced the shutters on my condo with impact windows. Am I responsible for fixing the holes on the exterior? – Trish

“Answer: If your actions cause damage to another person or business, you are responsible. While your condominium association is responsible for repairing and maintaining the common areas, it is allowed to seek reimbursement if someone purposefully or negligently caused the damage.

“This idea does not just apply to condos; it is consistent throughout the law. If you drive over your neighbor’s mailbox, leave your tools out and someone trips, or are texting and bump into another car, you can be held responsible and be asked to pay for the damage you caused.

“If you purposefully caused the damage, like the reader leaving holes in the exterior of her unit, you will need to pay for the repair. If you do not, the association will hire someone to do it, and the bill will probably be higher than if you hired the contractor. It is always easier to spend someone else’s money.

“The analysis can be more complicated when the damage was not intentional. A flood can be caused by many reasons. If the tub overfilled because you left it on and forgot about it when the phone rang, you can count on footing the bill. If it flooded because a pipe burst that should have been maintained by the building, you may be off the hook. Sometimes bad things happen, and there is no one to blame.

“You should talk with your association about the damage and try to come to a compromise that you both can live with. See if they can get their insurance involved and offer to split the deductible or find a competent contractor that is more reasonably priced than the one your community wants to use.

“I cannot recommend strongly enough that you should get insurance even if you live in a condo. While no one likes to pay insurance premiums, it is much harder to pay for accidental damage or write a big check to a lawyer because your unnoticed leak ruined the apartment below you and they decided to take you to court.

“About the writer: Gary M. Singer is a Florida attorney and board-certified as an expert in real estate law by the Florida Bar. He practices real estate, business litigation and contract law from his office in Sunrise, Fla. He is the chairman of the Real Estate Section of the Broward County Bar Association and is a co-host of the weekly radio show Legal News and Review. He frequently consults on general real estate matters and trends in Florida with various companies across the nation. © 2019 Sun Sentinel (Fort Lauderdale, Fla.), Gary Singer. Distributed by Tribune Content Agency, LLC.”

What Does a ‘Normal’ Housing Market Look Like? This One

wall street journalPosted this week on FloridaRealtors® and sourced to the “Wall Street Journal” (04/01/19):

“NEW YORK – April 2, 2019 – The spring home-buying season could be the best in years, with falling mortgage rates and rising inventory already reducing bidding wars and resulting in price cuts.

“”It’s been a rough go for homebuyers since the bottom of the housing market, and there are signs we’re entering a period of normalcy,” says CoreLogic Deputy Chief Economist Ralph McLaughlin.

McLaughlin believes current conditions could be the most favorable for buyers since the housing market bottomed in 2012.

“However, economists say that even as activity rises, it’s unlikely that the market will return to a period of booming home sales. Nationally, home prices have jumped more than 50% since the bottom of the market in 2012, according to the S&P CoreLogic Case-Shiller National Home Price Index, which has made affordability a challenge for many buyers.

“Economists note that inventory is rising – not necessarily because more homeowners are putting their homes on the market but because homes are taking longer to sell.

“”All the signs are pointing to the fact that people are just having a harder time selling their homes,” says Trulia chief economist Issi Romem.

“However, it appears that buyers are reaching deals faster, with Redfin data showing that the time it takes a buyer to find a home has hit a six-year low of 73 days.

“Mike McCann, an associate broker at Keller Williams Philly, notes: “It’s a good time to buy as long as you’re going to stay in the property five-plus years.””

Upcoming Island Events

SancapCares201919th Annual SanCap Cares Celebration – Sunday, April 7, at The Sanctuary, to benefit Golisano Children’s Hospital of Southwest Florida. More info at www.SanCapCares.org.

Annual PoetryFest – Monday, April 8, at 3:30 p.m. in Room Four at the Sanibel Library.

“Southern Comfort” – End-of-Season 5th Annual CROW Fundraiser, next Friday, April 12, from 6 to 9 p.m. at the Community House. Includes dinner, games, auction, raffles.

Octifest2019“Octifest” on the Beach – Sanibel Sea School Fundraiser, Saturday, April 13, beginning at 6:30 p.m. at Sanibel Causeway Island A. Tickets at www.OctiFest.org.

8th Annual “Beer in the Bushes” – SCCF fundraiser on Saturday, April 20 from 6 to 10 p.m., reservations at www.beerinthebushes.com

What You May or May Not Want to Know About Termitesroyalcoast_home_top_logo

From Nov 2018 “Connect” magazine by the Royal Palm Coast Realtor® Association, by Jason Woodbury, Infinite Pest Solutions:

“If there’s one thing every homeowner dreads – it’s termites. It may be a topic you’ve heard a lot about but don’t necessarily KNOW a lot about. Southwest Florida is one of the “hottest” areas in the entire world for termite activity. Given that fact, there is a lot of misinformation about termites as well, so here are some fast facts about the different types of termites.

“Subterranean termites have very high moisture requirements, so they need contact with the soil. For this reason, mud tubes are created to move between the soil and wood. Inside damaged wood, you will see soil as well. A “mature” colony will have about 60,000 to 3 million individuals and takes 4-10 years to become mature. They can eat 2.5 feet of 2×4 wood in a year, and basically eat WITH the grain. Due to the high moisture content, these can be detected with visual inspection, moisture meters, and infrared cameras. Subterranean termites can be treated with soil or spot treatment, as well as fumigation and baiting. All new homes built in the state of Florida are required to be pre-treated for subterranean termites.

“Drywood termites are completely aerial, meaning they do not need contact with the soil. Due to lower moisture requirements, they are not as easily detected with moisture meters and infrared cameras. Visual detection such as finding termite swarmer wings or termite droppings is how a drywood colony is found. Drywood colonies will have up to 3,000 individuals and it takes up to 15 years to become fully mature. Being significantly smaller colonies, they eat much less wood than Subterranean termites. Drywoods eat ACROSS the grain of the wood. New construction in Florida is NOT required to be pretreated for drywood termites….

“There are also a couple of invasive species of termites that are less common but are taking over the habitat in this area. These are Formosan and Asian Termites. It has been confirmed that they have been able to hybridize in the wild (swarming at the same time). These termites are significantly more aggressive than native species, eating up to 50 feet of 2×4 wood each year, and having 10 million individuals in a colony. If you are interested in learning more, the University of Florida has an interactive map of locations where invasive species have been identified by an entomologist. This can be found at: http://www.flrec.ifas.ufl.edu/termites-in-florida/termite-distribution/

Note from SanibelSusan – Because most Sanibel/Captiva property is built on sand (rather than soil), termites here generally are the drywood variety. When I came to Sanibel over 27 years ago, rarely were termites discovered during a home inspection. Today, it’s more unusual for them NOT to be found.

The tropical rough-headed drywood termite swarms at night, from April through July. The tropical smooth-headed drywood termite can swarm any time of the year. Most of those colonies swarm in the afternoon between March and May. The western drywood termite has been identified during the day along both coasts in Florida.

Sanibel & Captiva Islands Multiple Listing Service Activity Mar 29-Apr 5, 2019sancap GO MLS logo

Sanibel

CONDOS

4 new listings: Seashells #31 2/2 $439K, Mariner Pointe #321 3/2 $579K, Sanibel Arms #F2 1/1 $599K, High Tide #101 2/2 $1.495M.

11 price changes: Sundial #H210 1/1 now $389K, Loggerhead Cay #471 2/2 now $544K, Pointe Santo #D21 2/2 now $650K, Snug Harbor #312 3/2 now $658K, Loggerhead Cay #223 2/2 now $669K, Kings Crown #213 2/2 now $799K, Shell Island Beach Club #7C 2/2 now $819.9K, Oceans Reach #3A1 2/2 now $924.9K, Pine Cove #C 2/2 now $1.059M, Plantation Village #312 3/2.5 now $1.49M, Wedgewood #203 3/3.5 now $2.495M.

3 new sales: Loggerhead Cay #322 2/2 listed at $569K, Sanctuary Golf Villages I #3-1, 2/2.5 listed at $640K, Villa Sanibel #2G 2/2 listed at $685K.

6 closed sales: Seashells #3 2/2 $425K, Spanish Cay #C2 2/2 $450K, Sundial #B407 1/1 $492K, Loggerhead Cay #233 2/2 $675K, Pointe Santo #B3 2/2 $650K, Shorewood #3C 3/2 $1.31M.

HOMES

5 new listings: 6141 Henderson Rd 2/1.5 $424.5K, 1607 Sand Castle Rd 3/2.5 half-duplex $579K, 9401 Beverly Ln 3/2 $769K, 4791 Rue Helene 3/2 $850K, 4709 Rue Belle Mer 3/2 $3.4M.

17 price changes: 970 Greenwood Ct 3/2.5 half-duplex now $436.5K, 1442 Sand Castle Rd 3/2 now $649K, 5747 Pine Tree Dr 3/3 now $750K, 702 Durion Ct 3/2 now $779K, 3050 West Gulf Dr 3/2.5 now $799K, 247 Christofer Ct 3/2 now $799K, 9393 Peaceful Dr 3/2.5 now $824K, 501 Lagoon Dr 3/2 now $899K, 1307 Par View Dr 3/3 now $989K, 772 Birdie View Pt 3/3.5 now $1.199M, 2282 Wulfert Rd 4/4.5 now $1.245M, 430 Glory Cir 4/5.5 now $1.295M, 532 Sea Oats Dr 4/4 now $1.298M, 532 Sea Oats Dr 4/4 now $1.298M, 1351 Middle Gulf Dr #2C 3/3 now $1.495M (our listing – view in below photo), 815 Limpet Dr 3/3 now $1.649M, 1743 Venus Dr 4/3.5 now $1.67M.View c (2)

10 new sales: 9446 Arum Ct 4/2 listed at $549K, 922 Pepper Tree Pl 2/2 listed at $599K, 697 Birdie View Pt 3/2 listed at $739K, 4787 Rue Helene 4/3 listed at $895K, 6123 Starling Way 3/2.5 listed at $954K, 5411 Osprey Ct 3/2 listed at $999K, 2984 Wulfert Rd 3/4 listed at $1.195M, 2510 Harbour Ln 2/2 listed at $1.199M, 1159 Golden Olive Ct 3/2 listed at $1.295M, 2502 Wulfert Rd 4/4.5 listed at $1.849M.

9 closed sales: 5260 Caloosa End Ln 3/2 $530.2K, 955 S Yachtsman Dr 3/2 $650K, 1225 Seagrape Ln 3/3 $695K, 3136 Twin Lakes Ln 3/2 $865K, 225 Violet Dr 3/2 $925K, 1230 Par View Dr 4/2.5 $1.05M, 1248 Par View Dr 4/4.5 $1.1M, 1653 Hibiscus Ln 3/2 $1.3M, 2251 Starfish Ln 4/3.5 $1.375M.

LOTS

2 new listings: 9345 Dimmick Dr $365K, 1837 Buckthorn Ln $699K.

1 price change: 6141 Starling Way now $947K.

2 new sales: 9441 Peaceful Dr listed at $249K (our listing), 1770 Dixie Beach Blvd listed at $649K.

No closed sales.

Captiva

CONDOS

1 new listing: Tennis Villas #3220 1/1 $355K.

1 price change: Sunset Captiva #103 2/2 now $839K.

No new or closed sales.

HOMES

No new listings or price changes.

1 new sale: with contingencies: 16548 Captiva Dr 4/4 listed at $4.5M.

No closed sales.

LOTS

Nothing to report.

This representation is based in part on data supplied by the Sanibel & Captiva Islands Association of Realtors® Multiple Listing Service. Neither the association nor its MLS guarantees or is in any way responsible for its accuracy.  Data maintained by the association or its MLS may not reflect all real estate activity in the market.  The information provided represents the general real estate activity in the community and does not imply that SanibelSusan Realty Associates is participating or participated in these transactions.

Until next Friday, here’s wishing you wonderful weather too! If it’s not, come to Sanibel & Captiva Islands where we love to share island life & the weather!

Susan Andrews, aka SanibelSusan

MaliaLogoFINP.S. I had lunch today at Malia (located on Par View Drive within Beachview Country Club Estates, next to Sanibel Island Golf Club). Also had dinner there last weekend. Both meals were excellent. If you haven’t been & enjoyed a “poke bowl”, you are missing out. Those are only available at lunch or you can create your own at their sister establishment Spoondrift Bowls in The Bailey’s Shopping Center. Healthy yummy zippy crunchy!

Redfish Pass South Seas to North Cap Apr 2 2017

At Redfish Pass between South Seas Lands End, Captiva, & North Captiva

 

Wrapping Up 1st Quarter on Sanibel & Captiva Islands


BeachIt’s SanibelSusan with the week’s real estate update. As the end of “high season” approaches and with continued price reductions, it has become a great time to buy. Now that it’s almost the end of first quarter, below are sales statistics followed by some recent articles about real estate and the economy.

The number of new sales announced yesterday at the local island Realtor® Caravan Meeting was an improvement over the last couple weeks. We hope the trend continues.

A few rental organizations have reported that April reservations are off, so some have reduced their “high season” rates in hopes of getting more bookings. They say it’s working! So, it’s a great time to schedule an island spring visit. The weather here is fantastic – mostly sunny with temperatures in the mid 70’s to low 80’s.

Sanibel & Captiva Islands Real Estate – First Quarter to March 29, Last Year Compared to 2019

1st quarter 2018 1st quarter 2019
Sanibel Condos
# of sales 33 30
Average sale price $749,628 $603,292
# of price reductions 68 80
Sanibel Homes
# of sales 60 35
Average sale price $1,269,355 $1,143,691
# of price reductions 194 228
Captiva Condos
# of sales 11 7
Average sale price $911,783 $1,292,571
# of price reductions 7 14
Captiva Homes
# of sales 8 1
Average sale price $2,462,500 $2,800,000
# of price reductions 16 30

Another Decrease in Closed Sales for February

royalcoast_home_top_logoShortly after posting the Friday update last week, the below press release was issued by the Royal Palm Coast Realtor® Association. This county snapshot covers Bonita Springs, Cape Coral, Estero, Fort Myers, Fort Myers Beach, Leigh Acres, North Fort Myers, Pine Island, and Sanibel/Captiva.

“Lee County’s housing market saw a decrease for the fifth straight month in February, according to the latest statistics just released by Florida Realtors®. Year-over-year, sales were down for both, but only by 4% for single family and 1% for condos.…The active listings have risen for the last six months, pushing inventory up to its highest since 2015…Broken down by cities, Single Family sales in Bonita Springs and Pine Island again saw an increase in the number of Closed Sales, year-over-year. All the remaining cities saw a decrease over last year, with Sanibel/Captiva showing the largest decrease at -45.5% compared to last year…”

Here’s Another Perspective – “Freddie Mac: Economy Dicey, But We’re Bullish on Housing”

FreddieMacLogo_3The below are article was posted on Florida Realtors® Wednesday and sourced to Freddie Mac. Today, Florida Realtors® also posted that mortgage rates just made their biggest drop in a decade.

“Lower mortgage rates are making for a rosy spring selling season, even if the economy is starting to show some sluggishness, economists note in Freddie Mac’s March forecast.

“”The real estate market is thawing in response to the sustained decline in mortgage rates and rebound in consumer confidence – two of the most important drivers of home sales,” says Sam Khater, Freddie Mac’s chief economist. “Rising sales demand coupled with more inventory than previous spring seasons suggests that the housing market is in the early stages of gaining momentum.”

“The 30-year fixed-rate mortgage dropped to a 4.28% average last week – lower than the 4.45% average from a year ago, Freddie Mac reports. “Mortgage rates have dipped quite dramatically since the start of the year and house prices continue to moderate, which should help on the homebuyer affordability front,” Khater says. Freddie economists predict that the 30-year fixed-rate mortgage will average 4.5% in 2019 and increase to 4.8% in 2020.

“Home price growth likely will continue to slow, researchers note. Freddie is projecting annual home price growth increases of 3.5% in 2019 and then 2.5% in 2020.

““But with demand growing for housing, Freddie Mac economists are upbeat that housing construction will increase this year. Total housing starts will likely increase over the next two years, with the most growth coming from the single-family housing segment, according to the report. Total housing starts are forecasted to rise to 1.27 million units in 2019 and to 1.33 million units in 2020.

“However, while the housing market looks poised to gain steam, the economy overall is showing some signs of weakening compared with a year ago. A decline in consumer spending has lowered economists’ GDP growth rate forecasts for the first quarter of 2019 to 1.2%.”

seahorse-festivalSanibel School Seahorse Festival 2019

Tomorrow, March 30, from 11 a.m. to 5 p.m. at 3840 San-Cap Road is the annual school fund raiser with food trucks, live music, silent auction, inflatable and obstacle courses and games for all ages.

Free admission with unlimited Kid Zone wristbands for $20. More info at http://TheSanibelSchoolPTA.com.

Sanibel Estates Annual Meeting

Last night was the annual meeting of my Homeowners Association, Sanibel Estates. Held at The Community House, as many of the meetings are, we were treated with City updates by both City Manager Judie Zimomra and Police Lt. Grace Towler, followed by and a community update by our Association President, Former Sanibel Mayor Jerry Muench.Sanibel estates mtg 03-18-19

A few tidbits include:

News You Can Use – Citizens were encouraged to receive City news electronically. Sign up today at www.MySanibel.com to get “news you can use”. You can specify your preferences, i.e. construction projects, travel, trash collection times, weather, traffic advisories, meeting agenda (City Council, Planning Commission), etc.

2019 Sanibel Hurricane Seminar – Scheduled for Friday, May 10 at 11 a.m. at The Community House. If you can’t attend, it will be videoed and on the City website following the event. Be sure and keep your Hurricane Pass in your car glove box to ensure quick access back on the island after a storm.

When to Call the Non-Emergency Police Department # – For information on identity theft, to report an iguana or other invasive species, to put your property on the City’s dark home or vacation check.

Proposed Dredging Funding – The current City resolution adopted in 2011 estimated the need to dredge the canal entrance into the bay every two years with the City contributing 33%, property owners’ associations contributing 27%, and the marina 40%. With more summer storms and dredging underway now, the City is recommending that the homeowners’ assessment, currently $20/annually for each canal-front property, be increased to $40/annually, plus a one-time assessment of $40 in fiscal year 2020. The timeline for changing this special assessment includes working through the proper channels of City and county governments, presumably with the updated assessment reflected on property tax notices this November.

East-End Fire/Rescue Improvements – Studies are underway analyzing responses to east-end emergencies with consideration toward bettering those times and perhaps adding a facility or equipment on that end of the island. Mention was made of the kitchen fire last week at Sandalfoot condominiums and the quick response by both Sanibel and Iona/McGregor departments.

No HOA Fee in 2019 – With good resources on-hand and beach accesses and bridges in good condition, no HOA fee will be charged to owners in Sanibel Estates this year.

Sanibel & Captiva Islands Multiple Listing Service Activity Mar 22-29, 2019sancap GO MLS logo

Sanibel

CONDOS

3 new listings: Sunset South #11A 2/2 $639K, Tarpon Beach #304 2/2 $1.029M, Gulfside Place #222 2/2 $1.429M (our listing). Bottom photo below is the view from #222.

7 price changes: Sundial #H108 1/1 now $438,999; Blind Pass #D205 2/2 now $460K; Sundial #H409 1/1 now $519K; Island Beach Club #P1A 2/2 now $639K; Surfside 12 #A1 3/2 now $749K; Sanibel Surfside #224 2/2 now $789K; Yacht Haven #2 3/2 now $1.029M.

9 new sales: Sanibel Arms #D2 1/1 listed at $399K, Sundial #I401 1/1 listed at $489.9K, Sanibel Siesta #109 2/2 listed at $525K, Sanibel Arms West #K1 2/2 listed at $569K, Island Beach Club #310B 2/2 listed at $649K, Heron at The Sanctuary #3B 3/2.5 listed at $859K, Loggerhead Cay #133 2/2 listed at $929K, Signal Inn #19 3/2 listed at $1.095M, Sanibel Surfside #231 3/3.5 listed at $1.25M.

5 closed sales: Tennisplace #D33 1/1 $225K, Tennisplace #B22 2/1.5 $305K, Tennisplace #E24 2/1.5 $314K, Sundial #J101 1/1 $423K, Atrium #207 2/2 $1.484M.

HOMES

6 new listings: 9448 Begonia Ct 3/2.5 $699K (our listing) (photos below), 4115 Sanibel-Captiva Rd 6/2 $799K, 6041 Sanibel-Captiva Rd 2/1 $949K, 4155 Dingman Dr 4/5 $950K, 2510 Harbour Ln 2/2 $1.199M, 5089 Joewood Dr 5/4 $3.495M.

19 price changes: 328 Palm Lake Dr 3/2 now $599K; 4619 Brainard Bayou Rd 3/2 now $610K; 681 Rabbit Rd 3/2.5 now $619K; 3350 Barra Cir 3/2 now $649,946; 697 Birdie View Pt 3/2 now $739K; 256 Daniel Dr 3/2 now $747K; 4787 Rue Helene 4/3 now $895K; 823 Birdie View Pt 4/3 now $899K; 6123 Starling Way 3/2.5 now $954K; 510 Sea Oats Dr 3/2.5 now $969K; 1349 Eagle Run Dr 3/2.5 now 1.035M; 1010 Kings Crown Dr 3/3 now $1.15M; 3386 West Gulf Dr 3/3.5 now $1.199M; 2282 Wulfert Rd 4/4.5 now $1.27M; 784 Limpet Dr 4/3 now $1.649M, 1520 Angel Dr 5/5.5 now $1.685M; 2284 Troon Ct 4/4.5 now $1.95M; 2391 Shop Rd 3/2.5 now $1.997M; 4431 Waters Edge Ln 3/4 now $6.49M.

5 new sales: 945 S Yachtsman Dr 2/2 listed at $575K, 2552 Harbour Ln 3/2 listed at $1.195M, 734 Pyrula Ave 3/2.5 listed at $1.195M, 1450 Royal Poinciana Dr 3/2.5 listed at $1.248M, 4355 West Gulf Dr 4/4/2 listed at $5.995M.

3 closed sales: 848 Rabbit Rd 3/2 $525K, 659 Donax St 2/2 $537K, 5606 Baltusrol Ct 4/6 $1.55M.

LOTS

3 new listings: 898 Rabbit Rd $170K (our listing), 1303 Par View Dr $329K, 255 Hurricane Ln $395K.

2 price changes: 4538 Bowen Bayou Rd now $236,999; 6095 Dinkins Lake Rd now $249K.

No new or closed sales.

Captiva

CONDOS

1 new listing: Lands End Village #1651 2/2 $1.299M.

2 price changes: Lands End Village #1659 2/2 now $975K, Beach Cottages #1409 3/2 now $1.225M.

No new or closed sales.

HOMES

1 new listing: 11541 Paige Ct 3/4/2 $3.9M.

2 price changes: 15879 Captiva Dr 3/3 now $2.75M, 11549 Wightman Ln 3/4 now $3.65M.

1 new sale: 1129 Longifolia Ct 4/5 listed at $6.499M.

No closed sales.

LOTS

Nothing to report.

This representation is based in part on data supplied by the Sanibel & Captiva Islands Association of Realtors® Multiple Listing Service. Neither the association nor its MLS guarantees or is in any way responsible for its accuracy.  Data maintained by the association or its MLS may not reflect all real estate activity in the market.  The information provided represents the general real estate activity in the community and does not imply that SanibelSusan Realty Associates is participating or participated in these transactions.

Island Inventory Lists

If you would like a Sanibel & Captiva Islands Inventory list, The SanibelSusan Team has been tracking sales for more than 27 years and we update our list every weekend. Organized by island and property type (condos, homes, and lots), then community, complex or subdivision, it includes all of the property for sale in the Sanibel & Captiva Islands Multiple Listing Service.

For comparison, it also includes recent sales – from 2017 until the present. Send me an email at Susan@SanibelSusan.com, if you’d like it emailed or mailed to you.

Until next Friday, Susan Andrews, aka SanibelSusan

Sanibel Bunnies, Real Estate News, & More


Reporting another sunny Friday on Sanibel following a week with mixed weather. After a cloudy Tuesday, Wednesday was mostly off-and-on showers. Rain needed by dry local vegetation, but probably not appreciated by visiting vacationers and Lee County kiddos on spring break this week.

Beach Path.jpg

When beautiful weather returned yesterday, the bike paths and roadways again were busy, with the City posting notice about heavy late afternoon/early evening traffic. I left the office at 6 p.m. after watching Periwinkle traffic at a crawl in front of the office since mid-afternoon. I took the favored “back way” and made it home on the east end in 17 minutes. Later, I read on social media that someone leaving the Shell Museum at the same time endured nearly 2 hours getting to the causeway via Periwinkle. Yikes! When in doubt, watch the traffic cams. (http://www.mysanibel.com/Live-Street-Cams)

The forecast for the next seven days, says mostly sunny with temperatures in the mid- to high-70’s, so we can expect to continue to share the islands with extra visitors. We hope they are coming to buy real estate too.

March Association of Realtors® Membership Meeting

Yesterday was the monthly membership meeting at the Sanibel & Captiva Islands Association of Realtors®. Membership meetings include a speaker in addition to the standard Thursday Caravan announcements.

Living with Island Animals – Holly Milbrandt, Sanibel’s Information Officer and an environmental biologist with the City’s Natural Resources Department, was the speaker. She is one of five biologists that work for the City. Her topic was “living with island animals including those that can be nuisance”.

Holly reminded attendees of the Sanibel Plan and its vision statement which says: “Sanibel is and shall remain a barrier island sanctuary, one in which a diverse population lives in harmony with the Island’s wildlife and natural habitats. The Sanibel community must be vigilant in the protection and enhancement of its sanctuary characteristics.” She talked about species that are native as well as ones that are exotic, which animals are here now and how the City deals with those that are a nuisance or safety issue.

Sanibel bunny

This is one of the many bunnies often seen munching behind SanibelSusan Realty.

The first critters discussed were the marsh rabbits that have increased in numbers in recent years. She explained why. They are able to reproduce when just two months old and can have up to seven litters a year with as many as seven young in each litter. Without a deterrent, that’s a lot of bunnies. She expects that natural evolution will take care of them, in the meantime she warned that young green shoots and grass are their favored snacks. She suggested using natural ground cover in landscaping to deter them.

Next, she spoke about coyotes. They were first noticed on wildlife cameras in the wildlife refuge in 2011. The worry with them, in addition to preying on small pets, is their interference with sea turtle nests. She said though they are noisy and sound like a huge pack when they howl, they have not documented more than four together. A University of Georgia study done here in 2015/2016 determined that there were 27 individual animals on the island. Based on that number, she said today that could be as many 29-64.

Exotic lizard control was her next subject. These are the critters that need to be trapped and removed. She showed pictures proving that Green Iguanas are not always green. She also noted that a Nile Monitor Lizard has not been documented here in many years. The non-emergency number to call for removal of exotics is to the Police Department at 239-472-3111. She said that though the City Iguana Control Office/Trapper is only on the island Wednesdays, if an iguana is in a neighborhood another day, chances are it will be nearby on Wednesday too. Please call to report them. Since 2015, the City has removed over 3,500 at a cost of nearly $100K. The way to keep the island safe is what she calls EDRR (Early Detection & Rapid Response).

She finished her talk with a fun photo quiz of what animals have been on Sanibel and which ones have not. Sanibel does not have and has not had any Burmese Pythons or Lemurs (though there are lemurs on display in Periwinkle Park). There was a black bear on Sanibel several years ago and today there are cane toads. These toads are dangerous to pets.

No venomous snakes have been confirmed on Sanibel in 40 years, though she said folks often mis-identify a Florida water snake which is native. Alligators are native too and found all over the island. They are removed when they are found to be a safety hazard. The two crocodiles on Sanibel today are thought to both be female.

Sanibel realtors logoReal Estate Announcements – It was another week of many announcements, mostly with new listings and price reductions, though a few sales were touted too. The activity posted this week in the Sanibel-Captiva Islands Multiple Listing Service follows a couple of news items below.

Flood Insurance Overhaul Starts Next Year

wall street journalThe below article posted on FloridaRealtors® on-line Monday is sourced to a “Wall Street Journal” article of the same day.

“WASHINGTON – March 19, 2019 – The Federal Emergency Management Agency (FEMA) announced the rollout of National Flood Insurance Program (NFIP) updates that will become effective next year.

fema“While FEMA released few specific details about the new program, it appears to downplay the role of flood zones in determining a home’s cost of coverage in favor of other variables, such as the distance from a potential flooding source rather than an all-or-nothing “in a flood zone” or “not in a flood zone” test.

“As part of Monday’s announcement, FEMA noted important dates: The new program becomes effective on Oct. 1, 2020, and homeowners will find out how much their policy will go up or down on April 1, 2020.

“FEMA said the new plan would assess properties individually and consider multiple variables, such as the potential for hurricanes, the homes distance from a body of water and the risk from coastal surges. It would also consider new “loss-estimation technology” that can account for threats from climate change and a home’s replacement cost.

“Florida – home to about 35% of all NFIP policies – could see a big impact from the proposed changes. It’s likely that homeowners in current flood zones would see an increase in their flood insurance premiums, but the state already pays more into NFIP than it gets back in post-flood claims, so some homeowners should see their rates go down.

“NFIP currently expires on May 1, 2019, and Congress is working on a solution to extend it for at least a few years. Should lawmakers reach agreement, it’s unclear how a legislative fix might impact the just-announced FEMA regulatory fix. Under U.S. law, FEMA is limited in its ability to raise rates. It’s also unclear how those limitations might impact increases under NFIP’s new risk model.”

Fun Stuff

sanibel-fire-logo-e1539870118355Tomorrow, Saturday, March 23, Annual Open House at Sanibel’s Fire House Station 171 from 10 a.m. to 2 p.m. with fire apparatus and equipment on display. Great time for children and families to interact with firefighters, get on trucks, and experience a fire smoke simulation. There will be Sanibel Police Department, County Sheriff’s SWAT Team, and LCEC vehicles there too, as well as booths with info/animals from CROW, Ding Darling, and a local animal shelter.

Poke bowlNew at Bailey’s Center – Spoondrift Bowls – Opened by same family that opened Malia Restaurant in Beachview Estates a few months ago, Spoondrift Bowls started at the Farmer’s Market and now is open Monday through Saturday from 11 a.m. to 6 p.m. at Bailey’s Center. The bowls are healthy and can be create-your-own with a variety of protein, base, topping, sauce, and finish options. Or you can select a predesigned combination or daily special. They also offer healthy homemade desserts and beverages. (www.SanibelSpoondrift.com)

Shell Harbor Dredging

Work began last Friday dredging the entrance channel to Shell Harbor. The channel will remain open during the project which may take a few weeks, but boaters are advised to travel slowly and cautiously.

Kick-Off for Kevin Ruane’s County Commissioner Campaign

RuaneI attended this event on Tuesday night at The Community House. It was great to see a huge turnout including mayors from Cape Coral, Bonita Springs, and Fort Myers. Introduced by Fort Myers Mayor Randy Henderson, followed by Lee County Sheriff Carmine Marceno, and Former Sanibel Mayor Marty Harrity, they offered insight into the experience and praised the accomplishments of Mayor Ruane, particularly in the areas of finance and water quality. The new Chairman of the South Florida Water Management District, Chauncey Goss, was at the event too. (During his first meeting, the contract was signed to construct the C43 Reservoir. It will take four years to complete but will be usable after two.) All positive steps in the right direction, having these champions representing islanders is important. Please give them your support too.

Sanibel & Captiva Islands Multiple Listing Service Activity Mar 15-22, 2019sancap GO MLS logo

Sanibel

CONDOS

1 new listing: Sandalfoot #3C1 2/2 $699K.

8 price changes: Sundial #G205 1/1 now $455K; Sundial #C310 1/1 now $459,750; Sanibel Arms #B1 1/1 now $468K; Sanctuary Golf Villages I #2-5 2/2.5 now $714.9K; Loggerhead Cay #133 2/2 now $929K; Pointe Santo #C43 3/2 now $995K (our listing); Bandy Beach #B101 3/2 now $1.359M; Wedgewood #203 3/3.5 now $2.595M.

View b

View from Pointe Santo #C43

5 new sales: Tennisplace #B22 2/1.5 listed at $309K, Sanibel Arms West #K5 2/2 listed at $579K, Island Beach Club #240F 2/2 listed at $749K, Sundial #E205 2/2 listed at $1.395M, Somerset #B202 3/2.5 listed at $1.995M.

2 closed sales: Cottage Colony West #116 1/1 $590K, Sanctuary Golf Villages I #3-4 3/3 $905K.

HOMES

3 new listings: 4737 Rue Belle Mer 3/2 $799,999; 5313 Punta Caloosa Ct 4/3 $899K; 500 Sawgrass Pl 8/8/3 $3.495M.

19 price changes: 693 Rabbit Rd 3/2 now $517.5K, 401 Raintree Pl 3/1.5 now $519K, 1805 Ibis Ln 2/2 now $519K, 945 S Yachtsman Dr 2/2 now $575K, 640 Oliva St 3/2 now $649K, 632 Lake Murex Cir 3/2 now $735K, 1978 Roseate Ln 3/2 now $748K, 1677 Sabal Sands Rd 3/2 now $759K, 257 Daniel Dr 3/2 now $765K, 1755 Jewel Box Dr 3/2 now $775K, 3013 Turtle Gait Ln 3/2.5 now $799K, 6033 Dinkins Lake Rd 3/3.5 now $799K, 1350 Middle Gulf Dr #1F 3/3 half-duplex now 799K, 6123 Starling Way 3/2.5 now $959K, 5411 Osprey Ct 3/2 now $999K, 982 Whelk Dr 3/2.5 now $1.175K, 772 Birdie View Pt 3/3.5 now $1.249M, 599 Lake Murex Cir 3/3.5 now $1.399M, 4143 West Gulf Dr 3/3.5 now $6.495M.

6 new sales: 974 Sand Castle Rd 3/3 half-duplex listed at $509K, 1327 Tahiti Dr 2/2 listed at $619K, 9248 Dimmick Dr 3/3 listed at $619.9K, 3832 Coquina Dr 4/4 listed at $995K, 297 Ferry Landing Dr 3/3 listed at $1.195M, 401 Bella Vista Way 4/4 listed at $2.75M.

5 closed sales: 1442 Sandpiper Cir 2/2 $395K; 4755 Ruelle 3/3 $734,630; 4760 Rue Helene 3/2 $750K; 1350 Middle Gulf Dr #2E 3/3 $825K (our buyer); 931 Snowberry Ln 4/4 $1.275M.

LOTS

3 new listings: 3324 Saint Kilda Rd $449K, 976 Whelk Dr $660K, 4995 Joewood Dr $2.85M.

4 price changes: 3013 Poinciana Cir now $244K, 6411 Pine Ave now $341.7K, 1026 Fish Crow Rd now $425K, 1305 Seaspray Ln now $650K.

No new sales.

1 closed sale: 2933 Wulfert Rd $315K.

Captiva

CONDOS

3 new listings: Bayside Villas #4220 1/2 $425K, Lands End Village #1667 2/2 $1.199M, Lands End Village #1613 2/2 $1.7M.

4 price changes: Bayside Villas #5114 1/2 now $405K, Beach Villas #2426 1/1 now $537.5K, Sunset Captiva #103 2/2 now $849K, Captiva Shores #8B 3/2.5 now $1.398M.

No new or closed sales.

HOMES

No new listings.

2 price changes: 11547 Laika Ln 4/4 now $2.295M, 15133 Captiva Dr 3/3 now $2.995M.

1 new sale: 11535 Wightman Ln 4/4 listed at $1.849M.

No closed sales.

LOTS

Nothing to report.

This representation is based in part on data supplied by the Sanibel & Captiva Islands Association of Realtors® Multiple Listing Service. Neither the association nor its MLS guarantees or is in any way responsible for its accuracy.  Data maintained by the association or its MLS may not reflect all real estate activity in the market.  The information provided represents the general real estate activity in the community and does not imply that SanibelSusan Realty Associates is participating or participated in these transactions.

Until next Friday, Susan Andrews, aka SanibelSusan

kiteboarding

Sanibel kite-boarders love a good breeze. Is that teammate Dave?

Still Time to Get Your Valentine a Piece of Island Paradise


Blind Pass 01-31-2019

It’s SanibelSusan reporting another nice often-sunny Sanibel Friday with temperatures in the mid-70’s. Visitors and vacationers continue to fill the roadways, bike paths, beaches and waterways, as snowbirds and locals readjust to their annual “plan ahead & share” mode – a certain necessity here every February and March.

West Wind new signWith continued good weather in the forecast, more folks are arriving all the time.

We had some 1st time island visitors come into SanibelSusan Realty this week inquiring about real estate. We like those. It’s always fun when they say they are staying at West Wind Inn, where Dick and I stayed during our first visit 30-some years ago.

I was at their Normandie Seaside Café today for lunch and noticed their new sign. It’s a great spot for a quick meal away from the hustle-bustle.

Island Real Estate Happenings

San Cap LogoThere was a big turnout yesterday at the local Sanibel & Captiva Islands Realtors® Thursday morning Caravan Meeting. The week’s activity in the Multiple Listing Service is posted after a few news items below.

Teammate Dave held several Open Houses again this week with another marked increase in the number of visitors. We are getting good showing action and inquiries with our listings too. I’ve been out showing and will be at it again this weekend. Photo below taken along the entrance to Chateau Sur Mer yesterday afternoon where lots of birds were along the bayous.

Chateau birds.jpg

The “high season” craziness here has begun. Woohoo! (That also means from now through Easter, it makes sense to make a reservation or call-ahead before you go out to dinner.)

Update of Sanibel’s Shared Use Path System

sanibelmapbikeFrom an article in this week’s “Sanibel-Captiva Islander”:

“Extending more than 26 miles and spanning from Lighthouse Beach Park on the east end to the Blind Pass Bridge on the west end, the Shared Use Path system is one of the City of Sanibel’s unique gems.

“And city staff, in partnership with the Lee County Metropolitan Planning Organization is seeking feedback from residents and visitors – pedestrians, bicyclists and motorists – on the operation.

“The city and county recently kicked off a project to update the master plan for the Shared Use Path. The current version was adopted in 2009 and has guided the implementation of updates to the system over the past decade. A Project Advisory Committee has been established to assist with the process.

“On January 31, the eight-member group held its first public meeting with officials and staffers…” The group’s goal is to “identify gaps or needs in the system – current challenges – then determine how to go about addressing the recommendations, including exploring funding options.”

Look to wrap up by June, City Council must sign off on it. This Committee will organize Open Houses, hold pop-up events at farmers markets and festivals, and an on-line survey, plus will question path users. On February 11, the online survey will launch at www.sanibelbikeped.com. Visitors to the website have until April 30 to complete the survey and have their feedback considered. The site also features info on the plan update and project, background on the existing path system, and an interactive wiki map tool.

On February 16, the team will conduct its path intercept surveys, which will include stopping users at multiple locations along the system to ask them to participate in a questionnaire.

“Prior updates to the system have focused on areas like widening paths, making markings and crossings more consistent and uniform, and updating amenities along the path such as adding shelters, benches, and water fountains.” They also looked at “incident data, including bike versus bike, bike versus vehicle, and falls.”

“There are five common challenges when looking at paths and trails…space, speed, surfaces, signage, and social behavior.” Some additional and emerging challenges are “congestion and user conflict, bicycle parking, shared active transportation and micro-mobility and ACES (autonomous, connected, electric, & shared) vehicles. Check the website for more info and to provide your feedback.

Island Events

big arts logoNow that it’s February, the schedule of island events is staggering. BIG ARTS often has sold-out performances, while the classes, beach walks, conservation talks, current events discussions, recreation and fitness opportunities, lessons, games, arts, and crafts go on and on. Many island fund-raising and annual meetings happen this time of the year too, so be sure and check the events tab above for links to some of them.

Asian Buyers

mapfareastWhen I attend our state leadership team meetings in Orlando and talk to other colleagues around the state, they often ask if we are seeing an increase in Asian buyers on the islands. That answer has always been “no”, but recent real estate news from other areas indicates that those buyers are purchasing more and more in the U.S.

I have often explored more advertising in that overseas market, some recent news may mean the time is right. Here are a few tidbits from a recent article.

More and more Koreans are parking their money in real estate overseas as their domestic economy wallows in the doldrums. According to the Bank of Korea, individual Koreans and business spending on properties abroad last year, was up a whopping 47% or 3.8 times more than five years ago. In 2008, that government lifted restrictions on buying overseas real estate. The U.S. is their most popular destination for real estate investment, followed by Vietnam, Canada, Thailand, and Japan. Property in major cities in the U.S., Japan and most advanced countries is considered a stable source of rental revenues. For cash buyers, the estimated rate of return is four to five percent compared to interest on savings of around one percent.

In Japan, which will host the 2020 Summer Olympics, real estate prices are rising, while their economic policies have resulted in ultra-low interest rates, prompting many investors to turn to real estate.

My Transnational Referral Certification which gets our listings promoted on WorldProperties.com now has partnerships with the real estate organizations in Brazil, Canada, France, Greece, India, Ireland, Mexico, Netherlands, New Zealand, South Africa, Spain, and United Kingdom. The Far East may be next.

‘Aging In Place’ Keeps 1.6M Homes Off Market

FreddieMacLogo_3I saw this article posted this morning on Florida Realtors®. Interesting study:

“Freddie Mac’s February Insight identifies a key factor contributing to today’s housing shortage: seniors choosing to age in place. It calls this shortage “an important barrier to young adults buying their first homes.” “We estimate that approximately 1.6 million more senior households are staying in place than would have been the case if they had behaved like previous generations of homeowners,” says Sam Khater, Chief Economist at Freddie Mac. “For scale, 1.6 million units is roughly the same as the number of new single-family and multifamily housing units built each year, and it represents more than half of the current shortfall of 2.5 million housing units that we estimated in our December Insight.”

“Khater says the increase in home-holding older adults will “increase the relative price of owning versus renting, making renting more attractive to younger generations.”

“Seniors born after 1931 are staying in their homes longer, resulting in higher homeownership rates for this group relative to previous cohorts.

“Estimate: 1.1 million existing homes have been held off the market through 2018 by those born between 1931 and 1941; 300,000 are held off the market by those born between 1942 and 1947; 250,000 are held off the market by those born between 1948 and 1958.

“To provide context for the 1.6 million existing homes being held off the market due to seniors aging in place, the Urban Institute recently estimated that 3.4 million millennials are missing out on homeownership.

“The trend of seniors aging in place is likely to grow as both the number of seniors increases and the barriers to aging in place are reduced. More older Americans prefer to age in place because they’re satisfied with their communities, their homes and their quality of life.”

Sanibel & Captiva Islands Multiple Listing Service Activity Feb 1-8, 2019sancap GO MLS logo

Sanibel

CONDOS

4 new listings: Sundial #D204 1/1 $419.9K, Oceans Reach #3A1 2/2 $949K, Atrium #103 2/2 $1.495M, La Playa #1B 3/2 $1.55M.

8 price changes: Mariner Pointe #122 1/1 now $379.9K, Sundial #J101 1/1 now $449K, Sanibel Shores #A2 2/2 now $459K, Loggerhead Cay #233 2/2 now $699K, Yacht Haven #2 3/2 now $1.079M, Villas of Sanibel #A102 3/3 now $1.459M, Cyprina Beach #1 3/3 now $1.695M, White Pelican #133 3/3 now $1.785M.

5 new sales: Tennisplace #C32 2/1.5 listed at $305K, Tennisplace #C23 2/1.5 listed at $319K, Pointe Santo #B3 2/2 listed at $729K, Sundial #A201 2/2 listed at $899K, Tarpon Beach #112 2/2 listed at $1.149M..

2 closed sales: Sanibel Moorings #1641 2/2 $560K, Island Beach Club #320F 2/2 $639K.

HOMES

9 new listings: 5745 Pine Tree Dr 2/1 $538K, 681 Rabbit Rd 3/2.5 $645K, 280 Southwinds Dr 3/3.5 $769K, 3861 Coquina Dr 3/3 $819K, 1550 Sand Castle Rd 3/3 $1.235M, 1717 Venus Dr 3/2.5 $1.35M, 2332 Troon Ct 4/5 $1.595M, 815 Limpet Dr 3/3 $1.795M, 2284 Troon Ct 4/4.5 $2.15M.

21 price changes: 1805 Ibis Ln 2/2 now $529K, 659 Donax St 2/2 now $575K, 9248 Dimmick Dr 3/3 now $619.9K, 724 Rabbit Rd 2/2 now $625K, 945 S. Yachtsman Dr 2/2 now $635K, 1476 Sand Castle Rd 3/2 now $695K, 9444 Cotten Ct 3/2.5 now $699K, 5303 Umbrella Pool Rd 3/2.5 now $719K, 1212 Sand Castle Rd 3/2 now $724K, 198 Southwinds Dr 3/2 now $739.9K, 1755 Jewel Box Dr 3/2 now $779K, 1677 Sabal Sands Rd 3/2 now $779K, 702 Durion Ct 3/2 now $799.9K, 5747 Pine Tree Dr 3/3 now $819.5K, 1740 Middle Gulf Dr 4/3 now $825K, 513 Lake Murex Cir 3/2 now $845K, 569 Lighthouse Way 3/3 now $1.185M, 4992 Joewood Dr 3/3.5 now $1.365M, 2282 Wulfert Rd 4/4.5 now $1.3958M, 2251 Starfish Ln 4/3.5 now $1.479M, 1520 Angel Dr 5/5.5 now $1.695M.

2 new sales: 747 Martha’s Ln 3/2 listed at $559K, 4755 Ruelle 3/3 listed at $785K.

2 closed sales: 2969 Wulfert Rd 6/6/2 $1.95M, 4689 Rue Belle Mer 5/6.5 $6.45M.

LOTS

No new listings.

1 price change: 2486 Wulfert Rd now $149K.

No new or closed sales.

Captiva

CONDOS

2 new listings: Bayside Villas #5128 1/2 $399K, Marina Villas #708 2/2 $749K.

2 price changes: Sunset Captiva #103 2/2/2 now $849K, Seabreeze #1253 3/3 now $1.7999M.

No new sales.

1 closed sale: Beach Home s#13 4/4.5 $3.75M.

HOMES & LOTS

Nothing to report.

This representation is based in part on data supplied by the Sanibel & Captiva Islands Association of Realtors® Multiple Listing Service. Neither the association nor its MLS guarantees or is in any way responsible for its accuracy.  Data maintained by the association or its MLS may not reflect all real estate activity in the market.  The information provided represents the general real estate activity in the community and does not imply that SanibelSusan Realty Associates is participating or participated in these transactions.

Until next Friday, don’t forget there’s still time to get your Valentine a piece of paradise. I’m working all weekend if you need help with that!

Susan Andrews, aka SanibelSusanvalentine

valentines-day-clipart-hapy-6

Real Estate Scoop from Florida Realtors & Sanibel


i-wear-flip-flops-in-winterFlorida Realtors logoIt is a long-distance joint effort this week as SanibelSusan finishes up today at the Florida Realtors Mid-Winter Business Meetings in Orlando while teammates Dave, Elise, and Lisa keep things running smoothly on the island.

It is always rewarding to be part of the state leadership team. Though we only meet twice a year, much is accomplished in just a few meeting-packed days, while the networking and friendships made create invaluable resources and future referrals for years.

header_midwinter_2This business has changed so much since I got my real estate license almost 30 years ago, that just keeping up with the times can be challenging. To think that there are now over 400,000 real estate licensees in Florida, just the numbers are staggering. Last year, Florida real estate sales totaled $126.5 Billion. Also last year, Florida Realtors offered 1,158 courses with 35,235 students attending. Those are all record numbers.

Those numbers make it sound like peanuts that on Wednesday our state Audition Panel evaluated more prospective instructors to teach state-approved classes than we have ever done in a single day – a total of 48 live auditions and 12 written. Yesterday, our Curriculum Subcommittee also voted to approve, renew, update, and translate many classes.

Through the year, I occasionally am called upon to evaluate a written application to teach a class, or to perform a telephone interview with a prospective teacher. It’s satisfying, through the years, to watch some of these rookies turn into cracker-jack instructors, successful brokers, and even authors. One of them will Chair the state Professional Development Committee next year. Today, that Committee approved all of the instructors and class changes that the subcommittees recommended.

Another interesting aside from these Florida Realtors meetings are our common problems. As part of the Legislative Think Tank, the Resort and 2nd Home breakout group meeting yesterday shared the same difficulties being experienced in many areas. Those ranged from short-term and vacation rentals affected by such third party purveyors as AirB&B and VRBO, to similar changes in city/town/community regulations, to occupancy changes from water quality issues and the like.

Florida Realtors PAC continues to provide strong representation and lobbying in Tallahassee to protect your property rights and property values. (Wednesday night, the Sanibel & Captiva Islands Association of Realtors received two state awards for their 2018 member PAC participation. Our local district pals in Bonita Springs -Estero won an award too.)government_affairs_rpac_logo_home

In the technology and legal world, changes in rules on advertising, teams, and copyrights, plus phishing, spams, wire fraud, and new contract requirements, make attendance at these meetings so important in staying ahead of the curve and out of trouble. Thanks to my team for making it possible for me to be part of these meetings. I’ll be back on Sanibel tomorrow in time to show homes on Sunday.

The action posted in the islands’ Multiple Service this week follows a news item below. On the island, and echoed in Orlando, is that last quarter 2018 and 2019 business to-date is off, but expected to improve. Here, it usually happens when the islands are busiest February and March. That’s soon. The SanibelSusan Team is ready.

What Will Increase the Value of My Property?

Money tightRealtors® often are asked what improvements will increase the value of a property when it is time to sell.

In most cases, buyers want a property that is move-in-ready. Usually, a few interior updates will help. In considering those improvements, do not over-improve beyond your community’s reasonable resale value.

Probably the most desired are remodeled kitchens and baths. They also bring the biggest return on investment. If full renovations are not possible, instead freshen with light neutral paint, new appliances, updated light fixtures, and kitchen/bath hardware.

Having consistent quality flooring throughout also is a plus with today’s buyers. Classic timeless styles rather than trendy options usually produce the best results.

Keeping the roof, windows, HVAC system, pool including cage and equipment, and hot-water heater well maintained also are important.

sancap GO MLS logoSanibel & Captiva Islands Multiple Listing Service Activity January 18-25, 2019

Sanibel

CONDOS

5 new listings: Sundial #C410 1/1 $475.9K, Sundial #I401 1/1 $489.9K, Loggerhead Cay #471 2/2 $569K, Sanibel Arms West #K5 2/2 $579K, Sundial #J204 2/2 $793K.

6 price changes: Tennisplace #C32 2/1.5 now $305K, Sanctuary Golf Villages I #3-1 2/2.5 now $640K, Loggerhead Cay #233 2/2 now $729K, Sundial #A201 2/2 now $899K, Sanibel Surfside #231 3/3.5 now $1.395M, Cyprina Beach #1 3/3 now $1.745M.

2 new sales: Sundial #F206 1/1 listed at $429K, Nutmeg Village #103 2/2 listed at $795K.

1 closed sale: Sundial #J401 1/1 $561,750.

HOMES

9 new listings: 9228 Belding Dr 2/1.5 $529K, 9393 Peaceful Dr 3/2.5 $839K, 1559 Sand Castle Rd 3/2 $850K, 9454 Calla Ct 3/2 $950K, 1030 Kings Crown Dr 2/2 $998K, 1039 Sand Castle Rd 3/3 $999K, 1450 Royal Poinciana Dr 3/2.5 $1.248M, 2303 Troon Ct 3/3.5 $1.298M, 1653 Hibiscus Dr 3/2 $1.495M.

9 price changes: 693 Rabbit Rd 3/2 now $547K, 4619 Brainard Bayou Rd 3/2 now $627K, 1442 Sand Castle Rd 3/2 now $689K, 9052 Mockingbird Dr 3/2 now $699K, 749 Cardium St 3/2 now $699K, 3050 West Gulf Dr 3/2.5 now $849.9K, 335 Cowry Ct 4/3.5 now $999K, 6047 Sanibel-Captiva Rd 3/2.5 now $1.195M, 772 Birdie View Pt 3/3.5 now $1.295M.

2 new sales: 1740 Middle Gulf Dr 4/3 listed at $850K, 925 Whelk Dr 3/3.5 listed at $2.375M.

4 closed sales: 824 Birdie View Pt 3/3 $850K, 1433 Sanderling Cir 3/3 $1.025M, 1426 Causey Ct 3/2.5 $1.09M, 2622 Coconut Dr 5/3.5 $2.55M.

LOTS

1 new listing: 6217 Starling Way $1.4M.

1 price change: 3354 Barra Cir now $399K.

No new or closed sales.

Captiva

CONDOS

1 new listing: Bayside Villas #4112 1/2 $384,999.

No price changes.

3 new sales: Beach Villas #2538 3/3 listed at $909.9K, Lands End Village #1655 2/2 listed at $1.055M, Sunset Captiva #302 4/3 listed at $ 2.248M.

No closed sales.

HOMES

1 new listing: 16333 Captiva Dr 4/2/2 $2M.

1 price change: 56 Sandpiper Ct 2/2.5 now $874.5K.

No new or closed sales.

LOTS

Nothing to report.

This representation is based in part on data supplied by the Sanibel & Captiva Islands Association of Realtors® Multiple Listing Service.  Neither the association nor its MLS guarantees or is in any way responsible for its accuracy.  Data maintained by the association or its MLS may not reflect all real estate activity in the market.  The information provided represents the general real estate activity in the community and does not imply that SanibelSusan Realty Associates is participating or participated in these transactions.

Until next Friday! Signing off from chilly Orlando where it’s been into the 40’s & 50’s all day (that’s degrees F). Good thing I brought my winter flip flops. It hasn’t been much warmer on Sanibel.

Susan Andrews, aka SanibelSusan

Another Sunny Sanibel Friday With Temps in Mid-70’s


210.JPGIt seems that SanibelSusan’s Friday island updates often begin with weather and traffic reports. Why should this week be any different? So, I’ve had my heat on at home at night for almost a week now and we often have kicked it on at the office first thing in the morning to take the chill off. Temperatures in the 50’s and 60’s are hardly a chill, particularly when looking at the national weather forecast and the snow expected to hit New England and the Midwest this weekend. We hope that those affected stay warm and safe.

scotch bonnet shell 01-15-19Usually those winter snowstorms affect Florida weather in some way, sometimes resulting in good shelling. Those doing the Sanibel Stoop continued to find special shells this week. Here’s a jumbo Scotch Bonnet collected on January 15th.

Here, the forecast for next week shows day-time temperatures in the mid-60’s to mid-70’s. With a low in the 40’s expected Sunday night (that could be our lowest of the year so far).

Island roadway traffic and business are still off compared to previous January’s. Today, traffic past the office is a little heavier with an Arts & Crafts Fair going on at The Community House. It’s going on there tomorrow too. Real estate business usually picks up in February, with the islands are at their busiest.

At the local Association of Realtors® meeting yesterday only a couple of sales were announced, but there were plenty of new listings and price reductions. A full caravan followed including our new listing at Lighthouse Point which got good feedback by both Realtors® and neighbors/island visitors. It’s great value, priced to sell quickly if you are interested in a beach-front 3-bedroom on the bay. (photos below)

The details on all of the islands’ Multiple Listing Service action since last Friday follow a few news items below.

Tonight is the Association’s annual Installation & Awards Banquet at The Sanctuary.

Florida Realtors® Mid-Year Business Meetings

header_midwinter_2.jpgNext week are the Florida Realtors Mid-Winter Business Meetings in Orlando where state leaders kick off the year. With that trip in mind, I’ve been watching Orlando forecasts too. Their forecast shows their daytime temperatures expected to be higher than here (80 degrees Saturday and 78 degrees Wed). But their nights are regularly into the 40’s.

Teammates Dave, Elise, and Lisa will be covering on-island while I’m away. The meeting schedule is consolidated this year, so I’ll be back on island Saturday. Wednesday, I again am sitting on the Audition Panel for Florida Realtors® instructors. We have a record number of 48 auditions scheduled during our all-day session. Thursday morning the Legislative Think Tank meets, as well as the Resort & 2nd Home Forum (where water quality and short-term rentals are on the agenda). Thursday afternoon, I have a Curriculum Subcommittee meeting in preparation for Friday’s Professional Development Committee meeting. With multiple meetings and events happening simultaneously, it’s always a productive invigorating time including great networking. Hard to believe this will be my 21st year serving. Today’s technology sure makes participating and doing business from afar easier now.

Florida Brokers Use New Tax Law as a Marketing Tool

bloomberg logoFrom Monday’s Florida Realtors® on-line:

“MIAMI – Jan. 14, 2019 – Florida real estate professionals are pitching the state’s tax benefits in places like New York, New Jersey and Connecticut – states where homeowners were hit the hardest by a sweeping tax law that capped deductions on state and local taxes since they have some of the highest income and property taxes. “What we’ve done is kind of double down on the Northeast because of the tax incentives,” says Daniel de la Vega, president of ONE Sotheby’s International Realty in Miami.

“Under the tax law, deductions for state and local taxes, including property taxes, are limited to $10,000. According to Jay Phillip Parker, CEO of Douglas Elliman Real Estate’s Florida operations, “If you’re looking at an ultra-high net worth individual or a very high-income employee, if they can make the move, there are real benefits.”

“The efforts appear to be gaining traction, with Redfin reporting an average 5% gain in sales prices for Florida luxury homes on a year-over-year basis in the third quarter. Moreover, Florida luxury home prices have outperformed the national average for four consecutive quarters. Over the same year-over-year period, luxury home sales in Florida edged up 6%, but declined 0.7% nationally.

“Cristobal Young, a Cornell University sociologist and author of “The Myth of Millionaire Tax Flight: How Place Still Matters to the Rich,” says that if you strip Florida out of the national data, evidence of rich people moving from high- to low-tax states essentially disappears.”

Source: Bloomberg (01/11/19) Levin, Jonathan

© Copyright 2019 INFORMATION INC., Bethesda, MD (301) 215-4688

2018 Was 3rd Year For Above-Average Catastrophes

Florida Realtors logoFlorida Realtors posted the below article on-line yesterday:

“CoreLogic’s annual Natural Hazard Report, which addresses the recent wildfires in California and severe rainfall- and hurricane-induced flooding throughout the nation, as the leading catastrophes in 2018.core logic logo

“Much like 2017, last year was an above-average year for hurricanes, flooding, wildfires and severe winds, the report concludes. It’s the 3rd year in a row for increased damage from disasters, which property insurance companies consider when requesting rate increases.

“The annual report analyzes hazard activity in the U.S. including events for Atlantic and Pacific hurricanes, flooding, wind, wildfire, earthquake and volcano, hail and tornado, as well as several international events including typhoons and cyclones in Japan, Oman, Hong Kong and the Philippines.

“”In 2018, the U.S. continued to experience damaging weather and natural catastrophes in high exposure areas, and in some instances, in regions that had been impacted in less than a year prior,” says Howard Botts, chief scientist, CoreLogic. “Hazards will always pose a real threat to homes and businesses and knowing exactly what that risk entails is critical to helping ensure sufficient protection from the financial catastrophes that so often follow natural disasters.”

“Report highlights

Flooding

In 2018, there were over 1,600 significant flood events that occurred in the U.S., 59% of which were flash flood-related.

“Residential and commercial flood damage in North Carolina, South Carolina and Virginia from Hurricane Florence is estimated at $19 billion to $28.5 billion, of which roughly 85% of residential flood losses were uninsured.

“Multiple states, including Texas, North and South Carolina, Maryland and Wisconsin, experienced 1,000-year floods; several 2018 floods occurred less than two years after an earlier problem, even though they’re considered 1,000-year flood events.

“Six percent of properties nationwide are within Special Flood Hazard Areas (SFHA), and approximately one-third of those have flood insurance policies.

Atlantic hurricanes

“The 2018 Atlantic Hurricane season saw 15 named storms, eight of which were hurricanes. Two of these, Hurricanes Florence (Category 1) and Michael (Category 4), made landfall along the U.S., making 2018 the third back-to-back season of above-average hurricane activity in the Atlantic.

“Approximately 700,000 residential and commercial properties experienced catastrophic flooding and wind damage from Hurricane Florence, which is estimated to have caused between $20 to $30 billion in insured and uninsured loss.

“Michael is the strongest hurricane to make landfall in the Florida Panhandle since 1900 and the strongest hurricane to make landfall in the U.S. since Hurricane Andrew in 1992. It’s estimated to have caused $2.5 to $4 billion in residential and commercial insured loss from wind and storm surge.

Wildfire

“The number of acres burned in 2018 is the eighth highest in U.S. history as reported through Nov. 30, 2018.

A total of 11 western states had at least one wildfire that exceeded 50,000 burned acres; the leading states were California and Oregon, each with seven fires that burned more than 50,000 acres.

“The November 2018 Camp Fire in Northern California destroyed nearly the entire city of Paradise and brought damage or destruction to 18,804 structures.

“The Woolsey wildfire in the coastal community of Malibu destroyed more than 1,600 structures.

CoreLogic estimates that the combined total insured and uninsured loss for these two wildfires is between $15 billion and $19 billion.”

Sanibel & Captiva Islands Multiple Listing Service Activity Jan 11-18, 2019sancap GO MLS logo

Sanibel

CONDOS

5 new listings: Donax Village #10 1/1.5 $379K, Loggerhead Cay #582 2/2 $689K, Sandpiper Beach #303 2/2 $785K, Tarpon Beach #112 2/2 $1.149M, Atrium #207 2/2 $1.55M.

5 price changes: Tennisplace #D22 1/1 now $235K, Tennisplace #B22 2/1.5 now $309K, Sundial #H108 1/1 now $459K, Pointe Santo #B2 2/2 now $699K, Villas of Sanibel #A102 3/3 now $1.49M.

1 new sale: Bayview Village #2A 3/3 listed at $749K.

1 closed sale: Compass Point #232 2/2 $585K (our buyer).

compass point from beach

Compass Point from the beach

HOMES

5 new listings: 4755 Ruelle 3/3 $785K; 2441 Los Colony Rd 4/2.5 $898,997; 3351 Saint Kilda Rd 3/3 $1.25M; 5407 Osprey Ct 4/3 $1.595M; 4143 West Gulf Dr 4/3.5 $6.795M.

14 price changes: 1027 Sand Castle Rd 2/2 now $499K, 9248 Dimmick Dr 3/3 now $630K, 1441 Sand Castle Rd 3/2.5 now $699K, 721 Cardium St 3/2 now $745K, 1978 Roseate Ln 3/2 now $748.9K, 1225 Seagrape Ln 3/3 now $799K, 4760 Rue Helene 3/2 now $829K, 1656 Middle Gulf Dr 3/4 now $895K, 4787 Rue Helene 4/3 now $959K, 5422 Shearwater Dr 3/2.5 half-duplex now $989K, 1345 Eagle Run Dr 3/2.5 now $1.195M, 532 Sea Oats Dr 4/4 now $1.495M, 500 Kinzie Island Ct 3/3 now $1.499M, 784 Limpet Dr 4/3 now $1.789M.

7 new sales: 9431 Moonlight Dr 3/2 listed at $597K, 221 Robinwood Cir 3/2 listed at $679K, 678 Durion Ct 3/2 listed at $799K, 2479 Blind Pass Ct 3/2 listed at $874.9K, 1127 Buttonwood Ln 3/2.5 listed at $925K, 789 Pyrula Ave 4/2.5 listed at $999K, 1230 Ferry Rd 3/4 listed at $1.095M.

No closed sales.

LOTS

No new listings.

3 price changes: 5847 Pine Ave now $349,555; 0 Island Inn Rd now $849,555; 4767 Tradewinds Dr now $1.595M.

1 new sale: 4565 Bowen Bayou Rd listed at $189.9K.

No closed sales.

Captiva

CONDOS

1 new listing: Gulf Beach Villas #2112 1/1 $517.9K.

1 price change: Seabreeze #1253 3/3 now $1,799,999.

1 new sale: Beach Villas #2625 2/2 listed at $635K.

1 closed sale: Bayside Villas #5234 1/2 $389K.

HOMES

3 new listings: 11544 Wightman Ln 4/4.5 $2.395M, 15831 Captiva Dr 2/2.5 $4.15M, 16548 Captiva Dr 4/4 $4.5M.

3 price changes: 11535 Wightman Ln 4/4 now $1.849M, 11547 Laika Ln 4/4 now $2.395M, 16531 Captiva Dr 8/8 now $3.6M.

No new or closed sales.

LOTS

Nothing to report.

This representation is based in part on data supplied by the Sanibel & Captiva Islands Association of Realtors® Multiple Listing Service. Neither the association nor its MLS guarantees or is in any way responsible for its accuracy.  Data maintained by the association or its MLS may not reflect all real estate activity in the market.  The information provided represents the general real estate activity in the community and does not imply that SanibelSusan Realty Associates is participating or participated in these transactions.

dsc01361

Enjoy your weekend!

Until next Friday, Susan Andrews, aka SanibelSusan

Another Sunny Friday on Sanibel Island


Susan here with another Sanibel/Captiva update following our 1st full week in the office in 2019. With holiday families and visitors gone, it has been pretty quiet. Though there have been a couple of chilly windy mornings (yesterday and today), the weather has been mostly sunny to the delight of those here enjoying nature, beaches, waterways, and bike paths. On my way back to the office this afternoon, I snapped the below cellphone photos at the Fulgur Street beach access. It was a bright 71 degrees F, so clear I could see all the way to Naples along the eastern skyline. (By the way, I am wearing a jacket with sweater (& flip flops) but viewed some bikini-clad shellers on the beach.)

img_7362img_7363img_7364img_7365img_7367

The word on the street is that vacation rental bookings are off with some usually-faithful annual visitors choosing other winter destinations this year as a result of the broad summer/fall news about our water woes.

With today’s technology and recent worries about water conditions, business, and travel, I click on the U.S. Fish and Wildlife’s red tide status updates as often as I click on the Sanibel travel cams to see the easiest route home. Yesterday when some Realtor® pals in Sarasota indicated a rise in the red-tide organism there, I quickly checked again. Though a new report will be issued later today, below is their mid-week (January 9, 2019) report:

“Current Conditions – The red tide organism, Karenia brevis, persists in Southwest Florida. This past week, K. brevis was present in samples from and/or offshore of Hillsborough, Manatee, Sarasota, Charlotte, Lee, and Monroe counties, with bloom concentrations observed only in and offshore of Sarasota County. Additional details are provided below.

“Over the past week in Southwest Florida, K. brevis was observed at background concentrations offshore of Hillsborough County, very low to low concentrations in Manatee County, background to high concentrations in or offshore of Sarasota County, background to low concentrations in or offshore of Lee County, and low concentrations offshore of Monroe County.

“Fish Kills – No fish kills suspected to be related to red tide were reported this week (please see https://myfwc.com/research/saltwater/health/fish-kills-hotline).

“Respiratory Irritation – Respiratory irritation was reported over the past week in Manatee and Sarasota counties.

“Forecast – Forecasts by the USF-FWC Collaboration for Prediction of Red Tides for Pinellas to northern Monroe counties predict southwestern transport of surface waters and southeastern movement of subsurface waters over the next four days.”

Sanibel/Captiva Islands Real Estate

Sanibel realtors logoThe Realtor® Caravan Meeting yesterday at the local Association of Realtors® had the heaviest attendance in recent memory with the room full of Realtors® and Affiliates ready for a busy “season”. Plenty of new listings and price reductions were announced, but not many sales.

Knowing we are all worried about how the water issues will impact business this year, below is a summary of the closed sales posted in the local Multiple Listing Service last year and the year before compared to this year for the 3-month period Oct 11 through Jan 11. Current inventory numbers were added to illustrate number of units on the market.

Sanibel Captiva
Condos Homes Lots Total Condos Homes Lots Total
For Sale 109 228 63 400 42 39 3 126
2018/2019 18 31 2 51 2 7 0 9
2017/2018 36 34 6 76 6 3 0 9
2016/2017 29 35 10 74 7 5 0 12

The action posted since last Friday in the Sanibel & Captiva Islands Multiple Listing Service follows some good news articles below. Yes, there is good news.

Governor Ron DeSantis Announces Major Water Policy Reform

desantis logoThe good news is that though it has only been days since his inauguration, Florida’s new governor already is acting on water quality. The below news release and Executive Order were posted on-line yesterday by Governor DeSantis’s office:

“Today, Governor Ron DeSantis signed Executive Order 19-12 (Achieving More Now for Florida’s Environment), implementing major reforms to ensure the protection of Florida’s environment and water quality. “Our water and natural resources are the foundation of our economy and our way of life in Florida,” said Governor Ron DeSantis. “The protection of water resources is one of the most pressing issues facing our state. That’s why today I’m taking immediate action to combat the threats which have devastated our local economies and threatened the health of our communities.”

“The order calls for:

  • $2.5 Billion over the next four years for Everglades restoration and protection of water resources (a $1 Billion increase in spending over the previous four years and the highest level of funding for restoration in Florida’s history).
  • The Establishment of a Blue-Green Algae Task Force charged with focusing on expediting progress toward reducing the adverse impacts of blue-green algae blooms now and over the next five years.
  • Instruction to the South Florida Water Management District to immediately start the next phase of the Everglades Agricultural Area Storage Reservoir Project design and ensure the U.S. Army Corps of Engineers approves the project according to schedule.
  • The Creation of the Office of Environmental Accountability and Transparency charged with organizing and directing integrated scientific research and analysis to ensure that all agency actions are aligned with key environmental priorities.
  • The Appointment of a Chief Science Officer to coordinate and prioritize scientific data, research, monitoring and analysis needs to ensure alignment with current and emerging environmental concerns most pressing to Floridians.”

Florida Governor Asks SWFL Water Management District Board Members to Resign

miami herald logoPosted on-line late-day yesterday by the “Miami Herald”.

“Florida Gov. Ron DeSantis, two days into office, discusses executive orders he signed to address the red tide issues impacting the state.

“After a whirlwind day visiting both coasts to announce sweeping measures to address the state’s environmental woes, Florida’s new governor demanded water managers overseeing efforts to fix the Everglades step down on Thursday.

“At an afternoon meeting in Stuart, Gov. Ron DeSantis said he wanted the nine-member board at the South Florida Water Management District to resign because he believed they failed to understand the toll endured by communities by repeated algae blooms triggered by dirty lake water released into coastal rivers. “I just want good people who are willing to do the right thing,” he said.

“Board members infuriated the new governor in November when they voted to extend a lease to sugar farmers two days after the election. News of the pending vote was posted the night before a district field meeting in Miami, with less than 12-hours notice. U.S. Rep. Brian Mast, R-Palm City, who headed up DeSantis’ environmental transition team, raced down to the meeting and urged board members to put off the vote to give the new governor time to review the matter. But they refused.

“ “Brian calls me at 8:30 at night and said there’s this meeting in the morning about this lease that might impact the reservoir,” DeSantis recalled Thursday. “I don’t know why it was handled that way. I think it really upset a lot of people.”

“At the time, chairman Federico Fernandez, a Miami attorney, said the board was obliged to extend the lease by the state law authorizing the reservoir. The law, passed under former Gov. Rick Scott, which also dramatically reduced the reservoir from 60,000 acres to 17,000 acres, said sugar farmer should be allowed to continue farming until it interfered with construction. The lease, which could be canceled after 20 months when the district expected design plans to be completed, allowed district crews on the site to begin prep work.

“On Jan. 7, the district began relocating about 800,000 cubic yards of rock to be used to construct the reservoir.

The district is also awaiting news from its partner on the project, the U.S. Army Corps of Engineers, about design plans. In June, the Corps issued an 86-page review raising questions and saying it needed more information before agreeing to split the $1.8 billion cost.

“Fernandez had said he did not believe the governor could remove board members before their terms expired. He declined to comment Thursday. He was scheduled to be part of a panel on restoration efforts at the annual Everglades Coalition conference this weekend in the Keys but will be replaced by a district staff member.

Board member Melanie Peterson along with district general counsel and chief of staff Brian Accardo sent letters to Scott earlier this month saying they were resigning. The nine-member board has staggered appointments. Terms for three, including Miami-Dade tomato farmer Sam Accursio, end in March.

“On Thursday, DeSantis sent letters asking for the board members’ resignations after Mast recommended it.

“We want to make sure we have everybody in the boat rowing the same way,” he said.

“In his letter, DeSantis thanked board members but said “voters spoke clearly in support of our bold vision for action.”

“DeSantis said he also plans on holding back many last-minute appointments to state positions made by Scott, a move viewed as an insult to the incoming governor.

““For all the midnight appointments that require Senate confirmation, I’m going to be pulling them back,” he said. “Some of the people in that batch are people I know and respect and you may see me reappoint them … but we’re going to be pulling them all back.”

“Scott said Thursday in Washington that he did not take the move personally. “Every governor has the opportunity to make their own decisions. I’m proud of what we got accomplished. I’m glad that Gov. DeSantis cares about water issues. He’s walking into a totally different situation than I was” when Florida was in the midst of recession. “Governors have the right to make appointments. That’s what they ought to do,” he said. “They ought to find who they believe are the best people.””

(Tampa Bay Times staff writer Steve Contorno contributed to this report.)

You Can Sell an Inherited Property in Probate – But Do It Right

Sun sentinelIn real estate sales, we often run into situations where a family heir wants to sell a property. Good info about this was posted on-line Monday on Florida Realtors®. The author is Gary M. Singer, the article came from the “Sun Sentinel” (Fort Lauderdale, FL). Mr. Singer is a Florida attorney and board-certified as an expert in real estate law by the Florida Bar. He practices real estate, business litigation and contract law from his office in Sunrise, Fla. He is the chairman of the Real Estate Section of the Broward County Bar Association and is a co-host of the weekly radio show Legal News and Review. He frequently consults on general real estate matters and trends in Florida with various companies across the nation. Here’s the question posed and his answer.

“Question: I inherited two lots in Florida from my mother who recently died. Her estate was probated in South Carolina, and she left everything to me. The Florida tax bills still show the property is in her estate. How do I transfer the lots to my name? – Barbara

“Answer: To answer your question I need to review the concept of jurisdiction. A court’s jurisdiction refers to its power to make and enforce legal decisions and judgments. For a court’s decision to be binding, it must have jurisdiction over either the person who is being affected, known as “in personam,” or over the property being ruled on, known as “in rem.”

“The South Carolina probate court had jurisdiction over your mother’s estate because she had her primary residence there. It could probate her assets, such as bank accounts, jewelry, and even her South Carolina home to you because it had the jurisdiction to do so.

“However, only the court in the state where real estate is located has power over that property. This means that the South Carolina court could not do anything with the Florida lots because it lacked “in rem” jurisdiction.

You will need to open a secondary probate, called “ancillary probate,” in the county where the lots are located.

“This probate will deal only with the Florida lots and will be much easier and less expensive than the full probate administration you already had to do.

To ensure that you do not create the same issue for your heirs, you should look into estate planning methods such as titling the property in a life estate or by forming a living trust to avoid the need to probate any out-of-state properties.

Sanibel & Captiva Islands Multiple Listing Service sancap GO MLS logoActivity Jan 4-11, 2019

Sanibel

CONDOS

8 new listings: Tennisplace #D33 1/1 $237.5K, Island Beach Club #P1A 2/2 $649K, Lighthouse Point #111 2/2 $649K, Lighthouse Point #128 3/2 $699K (our listing) (photo below from master bedroom), Sand Pointe #132 2/2 $724.9K, Bayview Village #2A 3/3 $749K, Heron at The Sanctuary II #2B 3/3.5 $797K, Sundial #E205 2/2 $1.395M.

Master View.jpg

6 price changes: Tennisplace #C23 2/1.5 now $319K, Sundial #H209 1/1 now $535K, Snug Harbor #312 3/2 now $668K, Pointe Santo D32 2/2 now $739K, Island Beach Club #310A 2/2 now $749K, Island Beach Club #210B 2/2 now $775K.

2 new sales: Loggerhead Cay #143 2/2 listed at $799K, Shorewood #3C 3/2 listed at $1.449M.

1 closed sale: Sand Pointe #117 2/2 $787K.

HOMES

8 new listings: 993 Fish Crow Rd 3/3 $699.9K, 1212 Sand Caste Rd 3/2 $749K, 566 Boulder Dr 3/2/2 $799K, 760 Cardium St 3/2 $895K, 955 S.Yachtsman Dr 3/2 $895K, 1230 Par View Dr 4/2.5 $1.095M, 1243 Sand Castle Rd 4/4 $1.15M, 466 Sea Oats Dr 4/4 $1.395M.

11 price changes: 984 Black Skimmer Way 3/2 now $565K, 5260 Caloosa End Ln 3/2 now $597K, 1973 Wild Lime Dr 4/3 now $699K, 3017 Turtle Gait Ln 3/2 now $699K, 1677 Sabal Sands Rd 3/2 now $795K, 697 Birdie View Pt 3/2 now $799K, 6123 Starling Way 3/2.5 now $999K, 1307 Par View Dr 3/3 now $1.05M, 1126 Harbour Cottage Ct 3/2 now $1.169M, 1248 Par View Dr 4/4.5 now $1.299M, 1133 Golden Olive Ct 3/3.5 now $2.432M.

4 new sales: 998 Fish Crow Rd 3/2 listed at $550K, 5280 Ladyfinger Lake Rd 3/2 listed at $789K, 3136 Twin Lakes Ln 3/2 listed at $899K, 243 Daniel Dr 4/3.5 listed at $1.394M.

3 closed sales: 498 Surf Sound Ct 3/3 $840K, 542 N.Yachtsman Dr 2/2 $920K, 6412 Pine Ave 3/2.5 $1M.

LOTS

No new listings.

4 price changes: 4565 Bowen Bayou Rd now $189.9K, 6411 Pine Ave now $358K, 5251 Punta Caloosa Ct now $550K, 1226 Isabel Dr now $1.495M.

No new or closed sales.

Captiva

CONDOS

1 new listing: Bayside Villas #5303 3/3 $649K.

No price changes, new, or closed sales.

HOMES

1 new listing: 14980 Binder Dr 4/4 $2.795M.

4 price changes: 55 Sandpiper Ct 3/2 now $949K, 15133 Captiva Dr 3/3 now $3.125M, 16531 Captiva Dr 8/8 now $3.8M, 16814 Captiva Dr 2/2.5 now $4.9M.

No new or closed sales.

LOTS

Nothing to report.

This representation is based in part on data supplied by the Sanibel & Captiva Islands Association of Realtors® Multiple Listing Service. Neither the association nor its MLS guarantees or is in any way responsible for its accuracy.  Data maintained by the association or its MLS may not reflect all real estate activity in the market.  The information provided represents the general real estate activity in the community and does not imply that SanibelSusan Realty Associates is participating or participated in these transactions.

Until next Friday, enjoy your weekend.

Wishing you wonderful sunny weather, too!

From sunrises to sunsets!

Susan Andrews aka SanibelSusan

sanibel-island-sunset

 

1st Weekend of 2019… Sanibel Shelling Still Amazing


As the new year begins, island roadways and bike paths continue to be busy – a noticeable increase from before Christmas with plenty of holiday visitors here enjoying the warm temperatures and sunshine. Temperatures got up into the mid 80’s on Wednesday, but that is expected to change a little when a mini-cool front arrives tomorrow dropping nighttime temps into the 50’s. After that, sunny but low-70-degree days may be the norm for the foreseeable future.

If you follow Sanibel Shell Seekers on Facebook, you likely have seen that the number and sizes of the shells found since the storms pre-Christmas are phenomenal. Here are a couple of their pix posted there: lightening whelks by Michael Gillmore and sharks eyes by Marci Canty. Aren’t the colors amazing!

michael gillmore sanibel shell seekersmarci canty sanibel shell seekers

Those here, please remember, that “in season”, it’s smart to plan travel around the heavier traffic coming on-island in the morning and off-island late afternoon.

Also, in typical winter fashion, as soon as condo listings are occupied, we get showing requests. It’s always challenging to sell properties that are in rental programs where the property managers do not allow showings during guest stays. That’s when encouraging Realtors® to walk the complex, point out the location/view, and professional photography/colored fliers become more important. Serious buyers understand. This week, we were fortunate when a cooperative owner guest allowed several showings. At another property, where a long-term guest had just arrived, we weren’t as lucky.

Wondering if the islands have any sales action here during the short New Year’s week? The Sanibel & Captiva Islands Multiple Listing Service activity since last Friday is after a few news items below.

Annual Meetings, Fee Changes, & More

Sanibel realtors logoMany Southwest Florida condominium and homeowner associations hold their annual meetings in the winter when more owners are in town. We work hard to keep info about our listings up-to-date. Local Realtors® and our Sanibel & Captiva Islands Association of Realtors® are smart about sharing any new info about planned projects, changes in fees or special assessments, or even talk about upcoming maintenance events.

At yesterday morning’s Realtor® Caravan Meeting, a colleague announced that the City has approved Sandy Bend condominium putting in a swimming pool. Sharing info like this is an important part of making sure that everyone involved in a transaction knows what is happening at the property.

2019 Economic Outlook: Mostly Strong

gulfshore business logoFrom December 2018 issue of “Gulfshore Business” magazine:

“Local experts forecast how our key business sectors will fare next year.

“Southwest Florida has been bombarded with a lot of unwanted “color” in 2018 – red tide, blue-green algae, citrus greening. The question for 2019: Will our economy be in the red or in the black?

“”Gulfshore Business” gathered data from economists and industry experts who forecast the health of our local markets for real estate, tourism, agriculture, finance and health care for the new year.

“It looks to shape up like another good year for Florida,” says Jerry Parrish, chief economist and director of research at the Florida Chamber Foundation. “Over the past five years, Florida produced one out of 11 new jobs in the U.S.”

“Parrish says the probability of a recession over the next nine months, barring a “black swan” unexpected event, is very low. “People are moving here, taking jobs, building homes, buying because there’s opportunity,” he says. “I see that continuing for next year. Even if the economy softens a little bit, Florida’s still going to be strong.”

“The Southwest Florida region tends to overheat during boom periods and overcorrect during busts, says Chris Westley, director of the Regional Economic Research Institute and professor of economics at the Lutgert College of Business at Florida Gulf Coast University.

“Gross domestic product data show the region’s economic activity bounced back from the 2008 recession in 2014 and remained strong until 2017 (the most recent numbers available). “Then it began to slow down considerably,” Westley says, noting overall GDP for Collier County in 2017 was 1.2%, the first time it dipped below 3% in five years. Lee County was at 1.5%.

“Westley blames the decline on the slow growth of construction. “A lot of that is explained by Hurricane Irma. A lot of construction projects were put on hold,” he says. But construction employment rebounded in September 2018, increasing year over year in Collier County by 27.5% and in Lee County by 20%.

“”As long as the expansion continues, we can expect our region to exceed the state, and the state to exceed the country,” he says. However, Westley says many economists – who weren’t prepared for 2008 – believe a correction will happen in 2020. “If the economy continues to expand through next summer, we will be in the longest expansion in U.S. history. But, it’s been a pretty weak expansion. It’s possible that weak expansions last long. It’s possible we could fall into a recession next year or in 2021. It’s going to turn on a dime.”

“Real Estate and Development

ls-logo“Randy Thibaut, CEO of Land Solutions in Fort Myers, says we are not in a depression or in a recession. “We think we’re in a market correction and expect that to continue into 2020,” he says.

“He says factors that led to the market crash in 2008 are not happening today, such as runaway speculation and financing, and overbuilding of single-family homes. Although, he says, the potential does exist for overbuilding of assisted living and apartment construction.

“Thibaut says the combination of rising interest rates, prices becoming too expensive for most homebuyers, tariffs increasing the cost of building new homes, and increasing government fees all equate to a softening of the market.

“Interest rates are expected to rise to 5.8 or 6% by 2020. “In and of itself, 6 to 8% interest rates are not a scary thing,” he says. However, for every 1% the interest rate goes up, buyers average $20,000 less in borrowing power. That makes it more difficult for 1st time homebuyers to find affordable homes, with prices already higher in response to increases in labor, materials, concrete and land over the past five years. Now, he says, tack on an expected extra $9,000 per new home because of new tariffs on imported materials.

“Westley says many homebuyers in Southwest Florida have been saving up equity for 30 years and don’t need to take out a mortgage. Parrish says most international buyers are cash buyers as well. “They’re less sensitive to the interest rate, but sensitive to the U.S. dollar,” he says. “As they raise interest rates, the U.S. dollar will get stronger, too.”

“Thibaut says over the next several years, a great deal of building materials and labor will be redirected to northern Florida to assist with rebuilding after this year’s Hurricane Michael. “We’re mostly recovered from Hurricane Irma, but there are still signs of people waiting for roofs to be replaced,” he says. “It’s definitely added greatly to our labor shortage and cost of materials.”

“Despite all of that, Thibaut sees a stable market. “We have a tone of new millennial buyers and a stable stream of baby boomers continuing to make purchases in Southwest Florida,” he says. “They’re just a little more value-conscious than they were before.”

“Parrish says a greater number of people from high-tax states in the Northeast are moving to Florida, and even more are inquiring about housing and business relocation. He says rising interest rates are spurring some buyers to speed up their purchases, not delay them. “People with the means are moving to Florida,” he says. “We are going to see a big population bump.”

Tourism and Hospitality

sancap-logo-ylw-200px-1“John Lai, president and CEO of the Sanibel-Captiva Chamber of Commerce, says 2018 started off with record growth, but there was no playbook to prepare the region for the impact of red tide and blue-green algae.

“He says it led to a disastrous third quarter that was expected to rebound in the fourth quarter. “We were dealt an ecological disaster we weren’t expecting,” Lai says.

“Lee County bed tax collections were down 16.4% in August 2018 over last year. “That equates to $5.66 million,” Lai says. “Collier and Pinellas were both up. (Visitors) checked out and went to one of our competing drive markets.”

Jack Wert, executive director of the Naples, Marco Islands, Everglades Convention and Visitors Bureau, says red tide exposure in Collier County was limited to the northern beaches. “Most water-related tour companies felt declines in business, but not necessarily the hotels,” he says.

“Wert says 2018’s water quality issue is causing them to take a conservative outlook for 2019, expecting a 2% increase in visits. “We need to reassure people it’s OK to come,” he says.

“Group meeting reservations for the first three months of 2019 are already on pace in Collier County. “It’s a positive outlook,” Wert says. “Meeting planners are booking business, and we’re anticipating the leisure market will still be strong.”

Lai says the first quarter of 2019 in Lee County is expected to meet or exceed early 2018’s pace as well. He is hopeful that 2019’s weather will be helpful because of El Nino, which is expected to bring much wetter and colder weather to the Northeast. “We are seeing that travelers are very forgiving, and memories of disasters both manmade and ecological are staring to shorten,” he says. “We’re optimistic that 2019 will be the year that 2018 was shaping up to be.”

“The focus on Southwest Florida tourism isn’t just on the beaches. Wert says about eight hotels are in various stages of planning for inland Collier County, with two expected to open in 2019 in East Naples near the new Collier County Sports Complex. That facility will open its first phase in December 2019 for amateur sports tournaments. “Sports tourism will continue to grow,” Wert says. “That is driving some of that hotel development.”

“Lai echoes that sentiment, noting three new inland hotels will be opening in Lee County in 2019. “The demand is so strong,” he says, expecting amateur sports tournaments to continue boasting the local economy during the off-season. “Amateur sports have taken a leading role. I expect that to continue to grow in 2019.”

“The international market is also expected to be strong in 2019, despite a strengthening U.S. dollar that makes their travel more expensive. Wert says Canadian visits likely will be down, but strong demand from the U.K. and Germany persists. “A Collier County advantage is that most of our travels are upscale,” he says. “Fluctuations in the exchange rates don’t seem to affect their travel.”

While tourism focuses on out-of-town visitors, hospitality takes into account locals who partake in the area’s shopping, dining and entertainment. “Incomes are growing at near the rate before the last recession,” Parish says. “The outlook for hospitality is stronger than for tourism in general.”…”.

How To Prepare For a Home Inspection

Florida Realtors logoFrom the November/December 2018 issue of “FloridaRealtor®”

  • “If home is empty, leave utilities on and pilot lights lit.
  • Make sure electrical sockets, light fixtures, switches, and fans work.
  • Confirm smoke and carbon monoxide detectors operate.
  • Check that faucets and toilets run properly and don’t leak.
  • Clean stove and oven so they won’t smoke and set off alarm when tested.
  • Verify doors and windows open and close and all hardware works.
  • Clear obstructions around furnace (HVAC equipment), water heaters and attic access.
  • Leave keys for outbuildings and exterior electrical boxes.
  • Remove brush and debris from exterior inspection points.
  • Gather documentation for renovations or repairs that have been made.
  • Provide sketch showing location of septic tank and week.
  • Remove or crate pets.
  • Plan to be away for three hours minimum.
  • Consider having home pre-inspected so you can fix problems before the official inspection.”

What Buyers Should Ask After a Home Inspection

realtor logoI’ve been saving this article from “Realtor®” magazine of October 9, 2018. It seems appropriate now, after the above article.

“After an inspector has finished a home report, buyers may feel overwhelmed by any flaws that might have been found. That’s why it’s important they take the opportunity to learn more so that they can move forward confidently in the transaction.

“A recent article at realtor.com® recommends home buyers ask their inspector clarifying questions like: “I don’t understand this; what does it mean?” or “Is this a major or minor problem?” and “Do I need to call in another expert for a follow-up?”

“Home inspectors are bound to uncover something in a home; no home is perfect. But the majority of the problems they uncover will likely be minor. Have the home inspector clarify which problems fall within the “minor” or “major” categories.

“Keep in mind: “The inspector can’t tell you, ‘Make sure the seller pays for this,’ so be sure you understand what needs to be done,” Frank Lesh, executive director of the American Society of Home Inspectors, told realtor.com®.

“If the inspector identifies a potentially major problem, consumers will want to follow up whether they should call an additional expert in to investigate further. For example, consumers may need to bring in an electrician to take a closer look at potential electrical issues that were flagged or a roofer if a roofing problem is suspected. Those specialists can then give an idea of the cost to fix it, which the real estate agent can take to the seller to request a concession, if the seller doesn’t want to fix it prior to the sale.

“Also, Lesh says that the list of items a home inspector identifies are issues the new buyer may need to address as soon as they move in. He says it’s like a “to-do list” for those items that did not get repaired by the seller prior to the sale.”

Weather Changes Due to El Nino

island-water-logoInteresting forecast in the Winter 2018 issue of “IWA Pipeline”: “As noted in the fall Pipeline, Southwest Florida is likely to experience an El Nino winter in 2019. The National Oceanic and Atmospheric Administration (NOAA) is forecasting a 70-75% chance of El Nino conditions this winter. El Nino is predicted to materialize in late December or early January.

“El Nino is a warming of surface water temperatures in the tropical Pacific Ocean. That warming changes where the thunderstorms form in the Pacific so that the jet stream goes over Florida instead of north of Florida. An El Nino winter typically means a wetter and lightly cooler winter for Southwest Florida. NOAA is predicting above average rainfall between now and May 2019. Many Sanibel and Captiva residents remember the last El Nino winter in 2015-16 that brought record rainfall and caused our rivers to be inundated with freshwater. Ecological damage with blue-green algae blooms followed. The predictions for this El Nino are not as severe as 2015-16, but the need for landscaping irrigation should be decreased in the upcoming winter months.

“Now is the time to check your rain sensor to make sure it has been installed correctly and that it is working. If you don’t have a rain sensor tied to your irrigation system, by Florida law, you are required to have one installed if you have an automatic irrigation system. Having a properly working rain sensor should save you money during the usually dry winter months if, in fact, we experience an El Nino winter in Southwest Florida.”

Sanibel & Captiva Islands Multiple Listing Service sancap GO MLS logoActivity Dec 28, 2018 – Jan 4, 2019

Sanibel

CONDOS

3 new listings: Sundial #I103 1/1 $489K, Loggerhead Cay #562 2/2 $595K, Kings Crown #112 2/2 $699K.

6 price changes: Sundial #G206 1/1 now $464.9K, White Caps South #5 1/1 now $499.9K, Snug Harbor #312 3/2 now $668K, Signal Inn #3 2/1.5 now $695K, Island Beach Club #210B 2/2 now $784.9K, White Sands #13 2/2 now $919K.

3 new sales: Coquina Beach #3C 2/2 listed at $449K, Sundial #G206 1/1 listed at $464.9K, Island Beach Club #320F 2/2 listed at $699K.

2 closed sales: Blind Pass #C201 2/2 $430K, Sundial #T301 2/2 $700K.

HOMES

9 new listings: 724 Rabbit Rd 2/2 $645K; 678 Durion Ct 3/2 $799K, 257 Daniel Dr 3/2 $815K; 1752 Jewel Box Dr 2/2 $994K; 932 Whelk Dr 3/3 $1.295M; 982 Whelk Dr 3/2.5 $1.325M; 1136 Golden Olive Ct 4/4.5 $2.795M; 550 Lighthouse Way 3/4.5 $2,999,999; 1253 Anhinga Ln 4/4 $3.795M.

5 price changes: 974 Sand Castle Rd 3/3 half-duplex now $519K, 1018 Demere Ln 4/2 now $674K, 1244 Par View Dr 4/3 now $995K, 1349 Eagle Run Dr 3/2.5 now $1.085M, 742 Sand Dollar Dr 2/3 now $1.089M.

2 new sales: 849 Beach Rd 4/4 duplex listed at $595K, 931 Snowberry Ln 4/4 listed at $1.35M.

No closed sales.

LOTS

2 new listings: 5321 Punta Caloosa Ct $377,555; 3869 West Gulf Dr $3.895M.

1 price change: 602 Boulder Dr now $439K.

No new or closed sales.

Captiva

Nothing to report.

This representation is based in part on data supplied by the Sanibel & Captiva Islands Association of Realtors® Multiple Listing Service. Neither the association nor its MLS guarantees or is in any way responsible for its accuracy.  Data maintained by the association or its MLS may not reflect all real estate activity in the market.  The information provided represents the general real estate activity in the community and does not imply that SanibelSusan Realty Associates is participating or participated in these transactions.

2018-06-13Until next Friday, enjoy your first weekend in 2019.

(Pix above of view from West Wind’s pool bar, which also serves chow from their Normandie Seaside Café. Open to the public too.)

Susan Andrews, aka SanibelSusan

Paradise-Style Winter Weather Wonderland


weather 12-28-18As The SanibelSusan Team looks forward to an island New Year, I am happy to report that Christmas week weather here has been wonderful. Today’s forecast says there will be warmer-than-usual days and nights until next week at this time.

Sunset-croppedThat means Sanibel temperatures in the mid- to high-70’s to low-80’s during the day, mid- to high-60’s at night. The weather folks also say that by next Friday, there may be a few showers and another cool-front arriving with lower temps (mid-60’s’ days, mid-50’s nights). Even so, SW Florida winter weather is the best!

Shelling12-21-18 Blind PassWith outstanding shelling still reported as a result of the storms last week, I think there are more shellers than usual on the beaches too. Long-time neighbors say it’s the best shelling in “50 years”. Wow!

There was no Realtor® Caravan yesterday, but the team has been hosting Open Houses hoping to attract buyers. The first heavy “season” traffic has resulted in cars backed up past the office from about 3 p.m. on every day since Christmas. There typically is an influx of day-trippers after holidays with both bike paths and roadways super busy.

Below are a couple of news items followed by the activity posted in the Sanibel & Captiva Islands Multiple Listing Service. There were no Sanibel/Captiva new sales this week. Though one condo and one home sale were posted in MLS, both were from earlier contracts.

Best wishes from all of us at The Sanibel Susan Team for a Happy New Year!

 

Mud Bugs Cajun Kitchen Now Open

mudbugs logoRestaurant choices on island again expanded recently with the opening of Mudbugs Cajun Kitchen at the former location of Sanibel Steakhouse at 1472 Periwinkle Way (across the street from Bill’s Bikes). The newly-renovated New Orleans-style eatery seats up to 150 people including 18 outdoor seats.

mudbugsServing both lunch and dinner, there are Cajun meals for every palate. Part-owner is long-time island restaurateur Larry Thompson known for his other eateries – the Lazy Flamingos, Sunset Grill, and Sanibel Fresh.

Florida Realtors® News: Top Real Estate Stories Of 2018

2018_Hanging_Decoration_PNG_Clip_Art_ImagePosted on-line at FloridaRealtors® on December 21, 2018: “Hurricanes hit, insurance rates rose, team ad rules got an update, and a real estate market marked by rising prices and tight inventory showed the first potential signs of change.

“Michael throws a boat ashore – On Oct. 10, 2018, Hurricane Michael slammed Florida’s Panhandle as the eye crossed near Mexico Beach. The category 4 storm was the first to target Northwest Florida and will forever impact future planning for the area – building codes, insurance rates and safety – after residents suddenly realized that their area faces just as much risk from deadly storms as the seemingly more vulnerable Florida cities to the south. The day after the storm, Florida Realtors® Disaster Relief Fund started accepting applications for aid and donations from Realtors throughout the state who wanted to help. A short while later, the national association’s Realtors Relief Fund (RRF) announced $400,000 in housing assistance for storm victims. Realtors, association staff, families and neighbors need so much. Any help you can offer is most appreciated.

“Insurance woes, from flood to AOB – The National Flood Insurance Program (NFIP) needs a major update but Congress keeps kicking the issue down the road. NFIP is deeply in debt but relied on by homeowners who need or want coverage. 2018 ended up where it started without a long-term solution, even though Realtors had a massive Call for Action before an expiration in September. On the property insurance side, coverage keeps getting more expensive, thanks in part to assignment of benefits (AOB) rules. Change is difficult without action by the Florida Legislature, and the problem could get worse as unscrupulous third parties over-charge for their work and then demand reimbursement from insurance companies, which may then pass increased costs on to their policyholders.

“What’s the word I’m looking for? – For some Florida Realtor teams, a Florida Real Estate Commission (FREC) rule update may be the biggest story of 2018. While new team ad rule requirements became official last summer, they give teams a full-year to prepare because, for some, it could mean a new name and major overhaul in every advertisement where it appears. FREC then opened the door to changes in individual ad rules, with a specific eye on the size of licensee names compared to broker names. The discussion will continue in 2019.

“Did you feel that? The market shifted – In the years leading up to 2018, a seller’s market dominated most areas of Florida. During the first half of 2018, a tight supply of for-sale homes frustrated buyers as median prices and interest rates moved higher and higher. As a result, buyers started to drop out, more sellers lowered asking prices, and bidding wars thinned out. By the second half of the year, quickly rising home prices became slowly rising home prices. Will all of this lead to a balanced market of buyers and sellers in 2019? Maybe. And when will the normal real estate cycle shift again to a buyers’ market? Stay tuned.

“The ‘higher mortgage rates’ prediction finally came true – For five years, experts’ end-of-year predictions called for higher mortgage rates in the new year – and for five years they’ve been wrong. But that changed in 2018. While rates continue to hover below 5%, which is still historically low, they ended the year about a full percentage point higher than when the year began. In part that’s because the Federal Reserve boosted interest rates four times in 2018 and plans a couple more next year. The Fed’s interest rate increases immediately raise the cost of adjustable-rate mortgages and indirectly put pressure on fixed-rate loans.

“A tip o’ the hat to the cap – Florida voters passed Amendment 2 in November, which made permanent a 10% cap on non-homestead property assessments each year. Florida Realtors advocated strongly for passage and celebrated the win after 66% of voters agreed. A permanent constitutional cap now gives the state’s small businesses some assurance they wouldn’t be priced out of the market on Jan. 1 of each year simply because property values went up.

“Another cut to the business rent tax – Florida businesses will save $31 million dollars each year thanks to the Florida Legislature, which cut the state’s business rent tax again. The new rent-tax rate on commercial leases drops to 5.7% on Jan. 1, 2019. After the final gavel fell on the 2018 session of the Florida Legislature, Florida Realtors President Christine Hansen said that Realtors knew it was going to be a rough session given the state’s tight finances, but “with the help of our members, we managed to keep the momentum going to further reduce the Business Rent Tax.”

“Does a non-Realtor business model have legs? – iBuyers – Opendoor, Offerpad, etc. – purchase homes directly from owners without an MLS or Realtor. Survey after survey finds that buyers and sellers want a trusted advisor to help them through a stressful transaction, but is there a chance iBuyers could eventually take over a significant share of the real estate market? Realtors find it hard to believe, and the data, so far, isn’t impressive. However, Wall Street is heavily backing these new iBuyers: Opendoor alone had raised $325 million by September, and an ATTOM survey found that institutional investors have shown an increasing interest in iBuyer-owned properties. It remains to be seen if these new models will crash and burn like many tech stocks or if they start to take over the business.

“Blockchain could unblock closings – Blockchain technology is often associated with Bitcoin, but as a tool, it essentially takes a complex, multi-user transaction and makes it safer. Instead of the data sitting on a single server that all participants tap into, it replicates the data on everyone’s computer, making it harder for any single participant to fudge the figures. However, this additional safety and spread of data could also cut the paperwork time to closing in half – or more – if every necessary piece of data becomes instantly available to agents, title companies, lenders, etc. While change always takes time, it could lead to a system where a contract signed on Saturday can close by Thursday.

“Builders can’t catch a break – The nation needs more new homes – but the cost for new construction keeps moving higher. There’s not enough vacant land; impact fees (a development charge by local governments to pay for increased city services) are going up; supplies cost more (in part due to Canadian lumber tariffs); there aren’t enough workers – and if there are, they don’t have the necessary skills. New home construction, once seen as the solution to a tight housing inventory, did not appear in 2018 – and it doesn’t seem to be on the horizon for 2019 either.

Environmental Groups Sue Feds Over Lake “O” Discharges

Calusa_Waterkeeper_Logo_1701.pngInteresting read in this week’s “Island Reporter” (dated December 26, 2018):

“Conservation groups on December 19 filed a notice of intent to sue three federal agencies for failing to assess harm to Florida’s endangered species before approving the ongoing release of polluted waters from Lake Okeechobee.

“The suit naming the Army Corps of Engineers, the U.S. Fish and Wildlife Service, and the National Marine Fisheries Service alleges that the discharges likely help drive the catastrophic red tide algae blooms killing Florida’s coastal wildlife.

“The groups specifically challenge the U.S. Army Corps of Engineers’ plan to extend the discharges through 2015 from the lake into the Caloosahatchee and St. Lucie rivers….

“The notices give the agencies 60 days to respond ot the claims submitted by the Center for Biological Diversity, Calusa Waterkeeper, and Waterkeeper Alliance…

“According to the release, the Corps updated its plan for managing the discharges in 2008 with the goal of lowering the risk of damage to the Herbert Hoover Dam, which retains the lake. The plan was supposed to be reconfigured within three years to incorporate the impacts of structural improvements to the dike and water quality upgrades projected to come form the Comprehensive Everglades Restoration Plan.

“”The dike repairs are behind schedule, the Everglades plan has not been completed and toxic algae blooms continue to kill countless marine animals,” the Calusa Waterkeeper release states. “Meanwhile the Corps has opted to simply extend the current water-management plan through 2025 without assessing the harm to protected wildlife and water quality.”

Kick Out Clause or Right of First Refusal?

Florida Realtors logoMore good info from Florida Realtors®, this article by Meredith Caruso. She is Manager of Member Legal Communications, answering calls Florida Realtors® Legal Hotline and she also keeps the Forms Content Committee on track.

“Legal Hotline calls suggest that there’s some confusion over what Right of First Refusal and Kick Out Clause mean, and they’re often used interchangeably. Some calls start with “I’m looking for a Right of First Refusal rider”. Usually, however, this member is actually lookin for the Kick Out Clause rider but is confused over terminology.

What is Right of First Refusal? How does that differ from the Kick Out Clause rider? Here is what you need to know.

Right of First Refusal: In general, a Right of First Refusal is an interest granted to a person or entity to purchase property before another third party can do so. A commonly seen example is a property association’s right of first refusal. Normally recorded within the community’s documents, this right allows the property association to purchase a property before another buyer can.

“In this case, the association has the right to review the contract between a seller and a buyer within a certain timeframe (i.e. 10 days) so the association can decide whether or not to exercise its right to purchase. If the association chooses to do so, it then “stands in the shoes” of the buyer in the contract, meaning that the terms of the contract remain the same, pending renegotiation, and the association can’t make the seller change a term, such as the purchase price.

“Another common scenario that might have a Right of First Refusal is in a landlord/tenant relationship. Some tenants might incorporate a Right of First Refusal into their leases, stating that they have the right to buy the home before another buyer does, should the landlord want to sell that property one day. The Florida Supreme Court-approved leases don’t contain such language, so tenants who may want a right of first refusal in this context should consult their attorney for the appropriate language to add to their lease.

Kick Out Clause: The language in kick-out clauses could vary depending on the contract used, but in the Florida Realtors®/Florida Bar Residential Contract for Sale and Purchase (FR/Bar), the Kick Out Clause language is in a rider.

“Adding Rider X to the Florida Realtors®/Florida Bar contracts clarifies that the seller can continue to show the property and enter into bona fide back-up contracts. Any back-up contract with a third-party is, of course, subject to termination of the primary contract.

“Upon entering into a back-up contract, the seller must share a copy of said contract with the primary contract buyer, though with certain information, like price, redacted.

“This puts the ball in the buyer’s court, and the buyer must make a decision: either place an additional deposit down with the designated escrow agent and, in doing so, waive contingencies for financing and sale of buyer’s property (if any) or don’t place the additional deposit in the timeframe required, thereby terminating the contract. In the case of termination, the buyer would receive any initial deposit back and both parties would be released from further obligations under the contract.

“Once terminated, the seller then notifies that back-up contract buyer that that contract is in primary position.

When might a seller want to use this rider?

“A common use is when the buyer’s offer contains a contingency for the sale of a property the buyer currently owns. A seller may want to counter the buyer’s offer with this rider added to retain the ability to go with an entirely different contract with a subsequent buyer should they choose.

“In sum, a Right of First Refusal is granted to a party via a separate legal document (i.e. a declaration of association or a lease) to purchase property before another third-party. On the other hand, a Kick Out Clause rider to the Florida Realtors®/Florida Bar contract gives the seller the potential opportunity to proceed with a back-up contract….”

Question About “As Is” Contract

clip-art-of-contracts-being-signed-clipart-1The following question and answer are from the Jan/Feb 2019 issue of “FloridaRealtor®” magazine under “Talk to An Attorney” Advice from the Florida Realtors® Legal Hotline:

“Question: “The buyer and seller executed a Florida Realtors®/Florida Bar “As Is” Residential Contract for Sale and Purchase. The buyer submitted a proposed amendment during the Inspection Period, requesting a reduction in the purchase price based on issues revealed during the buyer’s home inspection. The seller is offended by the request and wants to cancel the contract. Does the buyer’s proposed contract amendment give the seller the right to cancel the contract?

“No. After a contract is signed, either side is welcome to propose amendments to the other side. The side receiving the proposed amendment in this case, the seller, is welcome to accept, reject, counter, or even ignore the proposed amendment. If the seller and buyer don’t end up agreeing to this proposed amendment, then the existing contract continues forward on the terms the parties already agreed upon.”

Sanibel & Captiva Islands Multiple Listing Service Activity Dec 21-28, 2018sancap GO MLS logo

Sanibel

CONDOS

1 new listing: Kings Crown #309 2/2 $879K.

No price changes.

1 new sale: Clam Shell #E 3/2.5 listed at $949K.

1 closed sale: Sundial #H309 1/1 $447.9K.

HOMES

4 new listings: 1350 Middle Gulf Dr #2E (Moonshadows) 3/3 half-duplex $895K, 1159 Golden Olive Ct 3/2 $1.495M, 4630 Rue Bayou 4/4.5 $1.595M, 2411 Blue Crab Ct 4/3.5 $2.599M.

5 price changes: 1851 Farm Trl 3/2 now $569.9K, 9465 Coventry Ct 3/2 now $625K, 1747 Jewel Box Dr 3/2 now $989K, 735 Sand Dollar Dr 3/3 now $1.179M, 430 Glory Cir 4/4.5 now $1.345M.

1 new sale: 1438 Causey Ct 3/2 listed at $895K.

4 closed sales: 1236 Sand Castle Rd 2/2 $545K, 4436 Waters Edge Ln 3/3 $675K, 9028 Mockingbird Dr 4/3 $799K, 8991 Mockingbird Dr 3/2 $830K.

LOTS

1 new listing: 1032 Sand Castle Rd $399,880.

1 price change: 2987 Wulfert Rd now $450K.

No new sales.

1 closed sale: 595 Piedmont Rd $190K.

Captiva

CONDOS

1 new listing: Lands End Village #1602 3/3 $2.3M.

No price changes, new, or closed sales.

HOMES & LOTS

Nothing to report.

This representation is based in part on data supplied by the Sanibel & Captiva Islands Association of Realtors® Multiple Listing Service. Neither the association nor its MLS guarantees or is in any way responsible for its accuracy.  Data maintained by the association or its MLS may not reflect all real estate activity in the market.  The information provided represents the general real estate activity in the community and does not imply that SanibelSusan Realty Associates is participating or participated in these transactions.

happy new year coloring book.jpgUntil next week, here’s to the last Friday in 2018!

Happy New Year!

See ya next year!

Susan Andrews, aka SanibelSusan