Another Friday is here. Roadway traffic continues to be light much of the time. Plus I have even seen plenty of parking available at City beach parking lots this week, while the Conservation Foundation Turtle Patrol already is reporting record numbers of turtle nests, many laid last weekend.

The rainy season may have begun yesterday with a quick but severe shower just after noon. It came down so fast during a 30+minute period, that roadways were briefly flooded. That disappeared quickly once the storm passed. On my way home both yesterday and today, I noticed some brilliant royal poinciana trees, looking to be at their peak. A couple of favorites are in front of Captains Walk and Sanibel Arms.

In the island real estate world, sales activity remains slow. On Sanibel, there were no new condo sales this week, but six homes and a lot went under contract. On Captiva, both a condo and a home were sold. More details on that action is below after a couple of news items.

Sanibel Resolutions Adopted

At their meeting last week, Sanibel City Council adopted two resolutions. The first appropriated funding for dredging of the Shell Harbor entrance canal. The second approved a grant agreement  between the City and the Florida Department of Transportation in the amount of $1M to repair and repave sections of the shared use path system.

City of Sanibel 2024 Hurricane Seminar

The City’s annual hurricane seminar will be next Friday, May 24, from 1 to 3 p.m. at BIG ARTS. Featured speakers include Erika Broyles, FISH Senior Services Director; Chief Kevin Barbot, Sanibel Fire Rescue District; Chief Bill Dalton, Sanibel Police Department; Manuela Martinez, FISH Disaster Administrative Director; Craig Mole, Sanibel Building Director; and Chief Bill Schultz, Lee County Emergency Management.

It will be live streamed on the City of Sanibel Facebook page and will be viewable on the City’s website after the event.

Check Your On-Line Property File

Recently, several times when researching property for a prospective seller, open permits were discovered. This can be an oversight by a contractor, but it is wise for owners to check the status of any property permits beginning when work starts, up until final payment is made.

Depending on the scope of work, multiple inspections may be required with the final one leading to a Certificate of Completion which usually is when a contractor is paid in full.

The City website. MySanibel.com has excellent info on when permits are required and how the process works.

If an owner is preparing to sell, they may not know that an open permit may be a snag in that process. Florida is a full disclosure state, so a seller is to disclose any incomplete permits or work that required a permit that was done without benefit of one. These details can be provided to their Realtor by way of a Seller Real Property Disclosure.

The Florida “As Is” Residential Contract for Sale and Purchase, specifies that a Seller will assist and cooperate in close-out of building permits.

On MySanibel.com, anyone can view permit information and history on any property merely by entering the address.  When an individual permit is found, many attachments and details are available, including the scope of work, its cost, inspections required, permit status, and more.

Sanibel & Captiva Islands Real Estate News

Following the local caravan meeting yesterday, four newly listed Sanibel homes and two condos were open for viewing. Meeting attendance was light but should pick up for the 30^th at the Monthly Membership Meeting and Caravan when the Director of Island Water Association will be the guest speaker.

Below, with data from the islands Multiple Listing Service (MLS) are summary tables of the island residential sales statistics, then some info on commercial property for sale, followed by scoop about our listings, plus all the Sanibel/Captiva MLS action reported this week.

Commercial Activity

Many have asked about all the For Sale signs at commercial establishments along Periwinkle. Some of those are with off-island brokers. They don’t always know Sanibel’s strict signage rules, which has resulted in some oversized signs, until the City catches them.

In the Sanibel-Captiva MLS today, there are seven commercial properties for sale on Sanibel, none on Captiva. The lowest priced is the condo we have listed at Key Lime Center for $399K. Also available are:

• 1025 Periwinkle Way which also is a condo and was the Noris Furniture building for $1.3M.
• 1067 Bailey Road which is the former gas and service station facing Periwinkle for $2.85M.
• 1245 Periwinkle, site of Anchor Inn for $3.5M.
• 1446 & 1444 Periwinkle, Island Trading Post, including store building, home behind, & storage building with apartment, for $4.89M.
•  4819 Tradewinds Dr package including a 6-unit gulf-front hotel, two duplexes, and a home for $6.7M.
•  6520 Pine Ave formerly Lazy Flamingo Plaza for $8.5M.

No commercial island properties are under contract in the San-Cap MLS, but there have been two closed sales posted this year:

• 1149 Periwinkle #3, commercial condo with 6 office spaces for $625K.
• 711 Donax St, Driftwood Inn, for $2.459M.

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

Sanibel

CONDOS

1 new listing: Kings Crown #215 2/2 $1.35M.

2 price changes: St Croix #4 2/2 now $1.575M, Somerset #E101 3/2.4 now $1.749M.

No new sales.

2 closed sales: Tennisplace #C34 2/1.5 $480K, Mariner Pointe #842 2/2 $650K.

HOMES

No new listings

2 price changes:  1125 Captains Walk St 3/2 now $1.065M, 5435 Osprey Ct 4/3.5 now $2.699M

6 new sales: 560 Piedmont Rd 3/2 listed at $639K, 1113 Sand Castle Rd 3/2 listed at $749K, 6090 Dinkins Lake Rd 3/2.5 listed at $1.295M, 1720 Dixie Beach Blvd 3/3 listed at $1.549M,  5048 Joewood Dr 4/3.5 listed at $2.55M, 4257 West Gulf Dr 4/4.5 listed at $12M.

5 closed sales: 1139 Seagrape Ln 3/2 $850K, 6141 Henderson Rd 3/3 $929K, 1376 Sand Castle Rd 3/2 $970K, 4179 Dingman Dr 4/4 $1.825M, 417 Bella Vista Way E 4/4 $2M.

LOTS

No new listings.

2 price changes: Bowman Beach Rd 25 now $145K, 967 Fitzhugh St now $265K.

1 new sale:1757 Windward Way listed at $389K.

No closed sales:

Captiva

CONDOS

3 new listings: Beach Villas #2323 $795K, Beach Villas #2322 1/1 $699K, Lands End Village #1655 2/2 $1.45M.

No price changes.

1 new sale: Beach Homes #25 3/2 listed at $2.8495M.

No closed sales.

HOMES

1 new listing: 37 Sea Hibiscus Ct 3/4 $1.899M.

No price changes.

1 new sale: 11516 Andy Rosse L 6/6 listed at $2.85M.

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

Enjoy your weekend, Susan Andrews, aka SanibelSusan

It’s another sunny Sanibel Friday following another week of that same wonderful weather. Rainy season is just around the corner and sea turtle nesting season has begun, so we know summer is not far behind. I was reminded of that when I saw this message on social media yesterday: “Today is the last SW FL sunset before 8 p.m. until August.”

Sanibel Lighthouse Update

The protective cloak around the lighthouse is now down, A good sign that beach re-nourishment work wrapped up there, just in time for nesting season. The project finished up midweek and both gulf and bayside parking lots are now open.

There were plenty of empty parking spots this afternoon when I snapped these few East-end blog photos. It’s always special to see gulf waters a brilliant teal which they often are this time of the year, or until summer showers begin, the sand gets stirred up, and more water is released from Lake O.

Dave took this one this morning when out boating.

Vacation Accommodations

Many island vacationers, anxious to return, are asking which gulf-front condos are ready for rent. Unfortunately, the answer is “not many.” Since we drive the gulf drives often, it has been surprising to see how long it is taking most to be restored.

Several communities have units ready for owner occupancy, but amenities are not yet completely repaired or landscaping not replaced. Others are still in permitting or working through insurance and financial issues. Some are close and now getting their beach access boardwalks installed.

Several are rental-ready for those wanting to come and support the island during recovery. The Chamber of Commerce continues to update their website with news on the nightly accommodations available, while local rental organizations add units to their website inventories as they are ready. A couple of complexes with on-site rental offices (Sanibel Moorings & Sanibel Siesta) are open.

If I was looking for accommodations of a certain type and for a certain timeframe, I would search the internet often. Just also be aware of what is happening at neighboring complexes as some could be under construction.

One of the furthest along in restoration is Loggerhead Cay which recently has posted several units for rent. Their most recent restoration are the new tennis/pickleball courts.

Most condo complexes remain fenced off with no entry signs posted. Some have yet to begin teardown or restoration, but many are progressing with some of those not expected to be ready until next year. The good news is many will be brand-new.

Island businesses are so ready for more visitors. It has been positive to see many cars at the newly-opened restaurants. There again are plenty of Sanibel breakfast choices: Over Easy Café. Lighthouse Café, Jerry’s Café, Sanibel Café, Rosalita’s (just Sunday brunch 10 a.m.- 3 p.m.), and Wickies Lighthouse Restaurant.

The beaches are beautiful, and shopkeepers have the red carpet out. All and all, more businesses are open and more inventory is available for those wanting to buy a piece of paradise. Traffic also is light, so it’s a great time to come for a visit.

Real Estate News

At the islands Association of Realtors®, it was great on Tuesday to finally attend another in-person meeting of the Professional Standards Committee. Our 2024 education calendar is filling up.

Yesterday was a Caravan meeting but just two homes were open for viewing, one on Captiva and one on Sanibel. The next Caravan meeting is May 16, followed by membership meeting and Caravan on May 30.

Next week our top leaders will be in Washington DC for the National Association of Realtors® (NAR) 2024 Legislative Meetings. This is when they meet with Capitol Hill representatives and actively advance the real estate market through public policy. Realtors® continually work with policymakers and regulators to advocate for a pro-consumer real estate industry that is essential to advancing national and local economies.

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

It was another quiet real estate week, no sales on Captiva. On Sanibel, one condo and three homes went under contract. Again, the popular listing activity is price adjustments.

Sanibel & Captiva Islands Multiple Listing Service Activity April 26­‑May 3

Sanibel

CONDOS

2 new listings: 502 Sandpiper Beach 2/2 $880K, Sundial #D401 2/2 $1.175M.

2 price changes: Mariner Pointe #1023 2/2 now $569K, Heron at The Sanctuary II #1-2A 3/2.5 now $899K.

1 new sale: Tennisplace #C34 2/1.5 listed at $499K.

5 closed sales: Oceans Reach #3D1 2/2 $839K, Loggerhead Cay #324 2/2 $870K, Sundial #N203 2/2 $887.5K, Nutmeg Village #206 2/2 $1.3125M, Pointe Santo #A27 3/2 $1.535M.

HOMES

2 new listings: 251 Southwinds Dr 4/3 $1.22M, 2604 Coconut Dr 3/2 $1.25M.

8 price changes: 1196 Sand Castle Rd 2/2 now $775K, 199 Southwinds Dr 3/3 now $799K, 1586 Century Ct 3/2.5 now $937K, 248 Christofer Ct 2/2.5 now $1.094M, 3343 St Kilda Rd 3/2 now $1.115M, 1720 Dixie Beach Blvd 3/3 now $1.549M, 922 S Yachtsman Dr 3/3 now $1.95M, 1025 S Yachtsman Dr 4/3 now $2.825M.

1 back-on-market: 235 Daniel Dr 3/3 $1.495M.

3 new sales: 3025 Poinciana Cir 3/2 listed at $849K, 5827 Pine Tree Dr 3/2 listed at $1.15M, 228 Violet Dr 3/2.5.5 listed at $2.5M.

6 closed sales: 2166 Egret Cir 3/2 $775K, 1501 Lagoon Dr 2/2 $1.15M, 1321 Sand Castle Rd 3/2.5 $1.255M, 1396 Sand Castle Rd 3/2 $1.3M, 696 Durion Ct 3/2.5 $1.335M, 1662 Dixie Beach Blvd 3/2.5 $2.249M.

LOTS

No new listings.

2 price changes: 1757 Windward Way now $369K, 5398 Osprey Ct now $400K.

No new or closed sales,

Captiva

CONDOS

No new listings.

1 price change: Lands End #1656 3/3 now $2.6M.

No new sales.

2 closed sales: Bayside Villas #4220 1/2 $600K, Beach Homes #16 4/4 $5.25M.

HOMES

No new listings.

1 price change: 11550 Paige Ct 5/5.5.5 now $6.8M.

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.

It has been another week of mostly bright skies, sunroof-open weather with roadways quiet, other than the now-usual workday entry and exit of off-island contractor vehicles. Sand trucks also have been traveling to and from the lighthouse as additional beach re-nourishment is underway there but expected to be completed soon.

City photo

Sea Turtle Nesting Season Has Begun

SCCF photo

SCCF (Sanibel-Captiva Conservation Foundation) posted the below big news Wednesday when the first sea turtle nest of the season was spotted. It was a special one too – laid by a whopper leatherback. Those are huge!

“Our first sea turtle nest of the season was found today on Sanibel, and it was laid by a leatherback (AKA the largest turtle species on the planet)!

“This is the first leatherback nest on Sanibel or Captiva in four years, and it was pretty easy for our biologists to recognize. An average of six feet long and between 500-1,500 pounds, leatherbacks are significantly larger than loggerheads, the most abundant nesting sea turtle species on the islands.

“Hundreds more sea turtles will lay eggs on Sanibel and Captiva over the next six months, and our staff and volunteers will protect and monitor each and every nest on a daily basis. Help us by turning off lights visible from the beach after 9 p.m. (including flashlights!), leveling sandcastles, filling in holes, removing furniture and other obstacles from the beach, picking up trash, and staying at least 10 feet away from posted nest areas.

“Call the SCCF Sea Turtle Hotline at 978-728-3663 to report issues with nests, nesting turtles, or hatchlings. SCCF’s nest protection activities are authorized by MyFWC Florida Fish and Wildlife under MTP-047 and MTP-170.”

More Re-Openings

Lighthouse Café – reopened yesterday in their new location at 1020 Periwinkle Way. This building is larger than their former east-end spot. It has a new interior and was designed to offer the same charm but with more space. Open daily 7 a.m. to 2 p.m., serving breakfast all day, and lunch beginning at 11 a.m.

Sanibel & Captiva Islands Association of Realtors® – building at 2353 Periwinkle Way had their ribbon cutting yesterday just before their monthly membership meeting and following caravan when two Sanibel condos and eight Sanibel homes were open for viewing. It is great to finally have our meetings back in our headquarters again. Upcoming are a new member orientation on Monday, Professional Development Committee Meeting Tuesday, another Caravan Meeting Thursday, and Board Meeting Friday. The schedule is getting back to normal! Hooray! (Finnimore’s Bike & Beach Rentals (our tenant below) has been open for some time, but also had their ribbon-cutting.)

Sanibel Recreation Center Outdoor Courts – reopened Wednesday. The courts are lined for both tennis and pickleball and can be reserved FREE for one hour per day by Rec Center members. The post-storm reconstruction included removal and replacement of damaged light poles, light fixtures, fencing, and asphalt, adding a new subsurface and 24K sq. ft. of asphalt and new surfacing. Community members, staff, and students from the Sanibel School celebrated the reopening with a ribbon cutting, followed by a friendly tennis match between Sanibel Mayor Johnson, City Manager Souza, and school tennis team students.

More Real Estate News

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

It was another slow week for new sales with no Sanibel condos under contract, but two homes and one lot, plus one Captiva condo. There is a message in a week on the islands with 21 price reductions and only four sales. Hopefully sales pick up once schools are out.

Sanibel & Captiva Islands Multiple Listing Service Activity April 19-26

Sanibel

CONDOS

3 new listings: Sundial #H303 2/2 $850K, Tantara #101 3/2 $1.2M, Compass Point #191 3/2 $1.8M.

7 price changes: Captains Walk #A4 2/2 now $479K, Mariner Pointe #312 2/2 now $597.5K (SanibelSusan listing), Oceans Reach #4C3 2/2 now $870K, Sandpiper Beach #502 2/2 now $880K, Pointe Santo #C21 2/2 now $975K, St Croix #4 2/2 now $1.65M, Sundial #L404 2/2 now $1.75M.

Mariner Pointe #312 views San Carlos Bay

No new sales.

3 closed sales: Ibis at The Sanctuary #B101 2/2 $700K, Loggerhead Cay #292 2/2 $822K, West Shore #5 3/3 $1.6M.

HOMES

3 new listings: 209 Robinwood Cir 3/2 $779K, 4202 Old Banyan Way 3/2.5 $1.595M, 673 East Rocks Dr 3/2 $1.595M.

11 price changes: 293 Palm Lake Dr 3/2 now $829.9K, 547 Chert Ct 3/3.5 now $899K, 1426 Sanderling Cir 3/2 now $1.049M, 9247 Dimmick Dr 3/2 now $1.065M, 4573 Bowen Bayou Rd 3/2 now $1.384K, 218 Daniel Dr 3/2.5 now $1.388M, 1202 Sand Castle Rd 4/2.5 now $1.489M, 1402 Middle Gulf Dr 3/3 now $1.545M, 2402 Wulfert Rd 4/4.5 now $2.199M, 2474 Wulfert Rd 4/5.5 now $2.298M, 5387 Shearwater Dr 4/4.5 now $2.595M.

2 new sales: 630 Piedmont 3/2 listed at $699K, 1511 Angel Dr 4/2 listed at $2.199M.

4 closed sales: 1481 Sand Castle Rd 2/2 $589K, 105 Skiff Pl 3/2 $600K, 932 Whelk Dr 3/3 $1.05M, 3526 West Gulf Dr 5/4.5 $1.65M.

LOTS

No new listings.

1 price change: 1032 Sand Castle Rd now $450K.

1 new sale: 6217 Starling Way listed at $1.65M.

No closed sales,

Captiva

CONDOS

1 new listing: Bayside Villas #4110 1/2 $495K.

1 price change: Beach Villas #2521 2/2 now $975K.

1 new sale: Beach Homes #24 3/3 listed at $3.25M.

No closed sales.

HOMES

1 new listings: 58 Sandpiper Ct 2/2 $1.699M.

1 price change: 11531 Paige Ct 4/3.5 now $11.995M.

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.

Enjoy your weekend, Susan Andrews, aka SanibelSusan

Fulgur St Beach Access 04-19-2024

More Great Weather

It has been another week of terrific weather on sunny Sanibel and Captiva Islands. I was out showing a home last Saturday when it too was picture-perfect. It was great also to see that the community amenities at Gulf Pines have been restored and the beach there wide and beautiful.

Traditionally it rains on Sam Bailey’s Islands Night at Hammond Stadium, but those attending the 31^st year of this event on Wednesday night also enjoyed beautiful weather. This long-standing tradition is fun, showcases island camaraderie, and celebrates “season” winding down.

The local Association of Realtors® had an entry in the community parade that preceded the ball game. The Sanibel School Seahorse Chorale, recently back from their special performance at Carnegie Hall, sang the national anthem. The game was between the Fort Myers Mighty Mussels and the Jupiter Hammerheads. The Hammerheads won (4-3).

Beach Restoration & Traffic

Traffic continues to be light, but there was a surprise City notice late Wednesday saying that crews were mobilizing to add additional sand near the lighthouse in response to recent erosion.

Permits were already in hand for more Lighthouse Beach re-nourishment, though not scheduled until fall. Luckily contractors could begin the project early and will restore the berm before sea turtle nesting season begins May 1.

As a result, the gulf-side parking lot there was temporarily closed for crews to bring in equipment It has reopened and will be through the weekend. Beginning Monday (April 22) all Lighthouse Beach Park parking lots will be closed until the berm replenishment is complete (no later than May 1).

Today, I took a quick mid-day drive through the gulf-side parking area and it was full of beachgoers enjoying the day. The water is a brilliant teal which always makes me smile. During quick stops at a couple of my favorite beach accesses (Fulgur and Donax Streets), it is obvious that the beach re-nourishment in those areas remains successful. There, the sand is high, and beach is wide. (Pix taken from my car at Fulgur St above.)

Another change noted this week is that Middle Gulf Dr is looking better now that new landscaping and sod have been added in front of Gulfside Place. Sundial’s landscaping is beautiful so this addition adds to the improved view along that stretch. Across the street, Spanish Cay also looks to be making good progress on their restoration.

Other than landscaping and construction vehicles plus a handful of bikers on the shared-use paths, there has been very little traffic on any of the gulf drives during my travels this week – truly an indication that “high season” is wrapping up.

Ding Darling Day Conservation Carnival

The National Wildlife Refuge Visitors and Education Center and Nature Store will be closed tomorrow (Saturday April 20) as their team heads off island for their annual “Ding” Conservation Carnival at Lakes Park in Fort Myers.

That event is from 10 a.m. to 2 p.m. (Wildlife Drive and Indigo Trail will remain open.)

Sanibel & Captiva Islands Association of Realtors®

It was great news this week to hear that the Association of Realtors® building restoration at 2353 Periwinkle Way finally is done and the upstairs office spaces are ready for occupancy. There will be a ribbon cutting next Thursday (April 25) at 11 a.m., just before our monthly General Membership meeting when guest speaker is Lisa Riordan, Captiva Civic Association Board of Governors President.

I also heard this week, that the class I teach for the SCIS (Sanibel & Captiva Islands Specialist) designation will be the first one in the 2024 schedule. So if you are looking for me the morning of May 29, I will be presenting my “Resort and 2^nd-Home Market” class for the 18^th year. (Gotta update it first.). Other Realtor® instructors this year include Eric Pfeifer “Marketing Island Condos”, Jeff Burns “Waterways & Beaches”, and Greg Demaras “Differences in Selling Off-Island”.

When we started this designation in 2006, I was one of the first to complete what was then an eight-segment curriculum. They are taught annually, usually in late spring/summer, spread over a two-week period, at and around the island.

Some segments are only an hour or two long, some day long, covering info that is useful and sometimes unique to real estate sales here. Subjects and locations include Bailey-Matthews National Shell Museum, BIG ARTS, Captiva Erosion Protection District, C.R.O.W. (Care & Rehabilitation of Wildlife), History of the Islands, J.N. “Ding” Darling National Wildlife Refuge, Sanibel City Hall, and SCCF (Sanibel – Captiva Conservation Foundation).

The four Realtor®-taught classes were added in 2006. When Realtors® enroll in this program, they are given two years to complete the 12 segments and then must retake three classes to re-certify every three years. This training has served our members well, both in educating new ones and keeping old-timers up to date.

More Real Estate News

Below, with data from the islands Multiple Listing Service (MLS) are summary tables of the island residential sales statistics, followed by all the Sanibel/Captiva MLS action reported this week.

There were five Sanibel sales (two condos, three homes) and one Captiva condo sale this week. Once again, the main listing status activity was price changes.

With a total of 369 properties for sale (315 on Sanibel and 54 on Captiva), and just 109 closed sales year-to-date (99 on Sanibel and ten on Captiva), there could be more adjustments over the next few months as sales activity usually slows down in the summer. Maybe this year will be different as more units become available for rent and vacation business increases.

Sanibel & Captiva Islands Multiple Listing Service Activity Apr 12-19

Sanibel

CONDOS

5 new listings: Sanibel Arms #E2 1/1 $399K, Tennisplace #B32 2/1/5 $474.9K, Sanibel Siesta #804 2/2 $795K, Sanctuary Golf Villages I #3-1 2/2.5 $1.145M, Sundial #K303 2/2 $1.3M.

4 price changes: Tennisplace #C34 2/1.5 now $499K, Lake Palms #3 2/2.5 now $577K, Oceans Reach #4D1 2/2 now $795K, Somerset #B101 3/3.5 now $1.895M.

2 new sales: Sundial #E110 2/2 listed at $1.095M, Sanibel Moorings #721 3/2 listed at $1.3M.

2 closed sales: Sundial #D312 1/1 $450K, Gulfside Place #204 2/2 $1M.

HOMES

1 new listing: 5827 Pine Tree Dr 3/2 $1.15M.

8 price changes: 1446 Sandpiper Cir 2/2 now $639K, 1196 Sand Castle Rd 2/2 now $785K, 1586 Century Ct 3/2.5 now $939K, 547 Chert Ct 3/3.now $949K, 3822 Coquina Dr 4/3.5 now $1.279M, 6424 Pine Ave 2/2 now $1.45M, 567 Lake Murex Cir 3/2.5 now $1.45M, 2303 Troon Ct 3/3.5.5 now $2.153M.

1 back-on-market: 1113 Sand Castle Rd 3/2 $749K.

3 new sales: 1306 Par View Dr 3/3.5 listed at $1.39M, 930 Strangler Fig Ln 5/3.5 listed at $1.395M, 3526 West Gulf Dr 5/4.5 listed at $2.25M.

6 closed sales: 4269 Gulf Pines Dr 2/2 $600K, 1377 Sand Castle Rd 3/2 $600K, 1578 Sand Castle Rd 3/2 $875K, 1658 Sabal Palm Dr 3/2.5 $1.05M, 969 Whelk Dr 3/2.5 $1.25M, 5235 Indian Ct 4/4 $2.1M.

LOTS

No new listings.

3 price changes: 1653 Bunting Ln now $445K, 1331 Par View Dr now $499K, 2490 Coconut Dr now $1.2M.

No new sales,

1 closed sale: 2933 Wulfert Rd $440K.

Captiva

CONDOS

No new listings.

1 price change: Beach Villas #2321 2/2 now $925K.

1 new sale: Beach Cottages #1414 2/2 listed at $1.295M.

1 closed sale: Sunset Captiva #204 2/2 $1.75M.

1 price change: 11516 Wightman Ln 5/4.5 now $3.395M.

No new sales.

1 closed sale: 16310 Captiva Dr 4/5.5 $10M.

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.

It is time for another sunny Friday update from The SanibelSusan Team. It was not picture perfect every day though, as a rain band passed through yesterday afternoon. Saved me from having to add water to my pool and gave vegetation and critters a quick drink.

Today, the weather is back to blue skies and plenty of sunshine. More of the same is forecast through the weekend and next week.

Traffic has become noticeably less, probably since some snowbirds have already departed. There still have been plenty of contractor vehicles and sand trucks during the workday, but the beach renourishment project is wrapping up early and there certainly are fewer cars on the roads. It also is a breeze now to come-on/go-off island on the weekends.

Sanibel Events & Openings

The Bait Box – at 1041 Periwinkle Way, had their ribbon cutting on Tuesday in their newly-elevated building which was lifted off the palm tree pilings during the storm.  Here since 1971, it offers fishing supplies and equipment, licenses, and rentals. They are open 6:30 a.m. to 7 p.m. daily.

Cheeburger Cheeburger – in Tahitian Gardens is under new ownership and reopened yesterday, also with ribbon cutting. They are closed on Mondays, otherwise open daily at 11 a.m., serving lunch and dinner.

31^st Annual Sam Bailey’s Island Night – at Hammond Stadium is Wednesday, April 17, with parade beginning at 6:10 p.m. (gates open at 6). The baseball game starts at 7 p.m. with the Florida State League Fort Myers Mighty Mussels playing the Jupiter Hammerheads (Minor League). Free tickets are available at the Chamber of Commerce Visitors Center, Bank of the Islands, Adventures in Paradise Outfitters, Doc Ford’s Rum Bar & Grille, Huxters Market & Deli, Island Pizza, Jerry’s Foods, Macintosh Books & Papers, The Magic Bus, Pinocchio’s Original Italian Ice Cream, Sanibel Café, Sanibel Deli, SCCF (Sanibel-Captiva Conservation Foundation), The Shack, and Whitney’s Bait & Tackle.

Sanibel School Annual Seahorse Festival – is tomorrow, Saturday, April 13 from 11 a.m. to 3 p.m. with food, fun, and games for the whole family. Free admission.

Sanibel & Captiva Islands Real Estate News

At our island Association of Realtors® Professional Development Committee on Tuesday, more of the 2024 Education calendar was finalized. Speakers at the upcoming April 25 General Membership Meeting will update us on “Protect Captiva”, while the speaker for the May meeting will be Dianna Wilson, General Manager of Island Water Association. Our committee is always looking for ways to update and continue training our members.

The 2024 SCIS (Sanibel & Captiva Islands Specialist) designation classes will be between May 29 and June 7, while the annual 14-hour Continuing Ed classes needed for license renewals are scheduled for the week of September 9.

Yesterday, the Association had a Caravan Meeting at The Community House with new listings, sales, and price changes announced. Following the meeting, nine Sanibel homes and one condo were open for viewing.

At the meeting, I chatted with several colleagues. Many commiserated about the lack of inquiries, showings and sales. Most don’t think we will see much improvement until fall or when the island has more vacation accommodations available. The latest report from the Chamber of Commerce is that island accommodations (Sanibel & Captiva) are back to 17% of what was available pre-Ian. Recovery continues albeit slowly.

Our CEO also announced that our next meeting could be back in our Association building (2353 Periwinkle Way). Restoration of that structure and our office spaces there are almost complete. Fingers crossed that our April membership meeting can be back there (nearly 19 months after Hurricane Ian).

He also encouraged attendees to take a free Continuing Education webinar offered by Florida Realtors: “Understanding Buyer Broker Agreements”. These classes are a great way to stay up to date on how the real estate business is changing. They are popular with six more scheduled: May 14 and 22, June 18, July 23, Oct 22, and Nov 5. The instructors (Steven David, Cynthis DeLuca, Patti Ketchum, and Caroline Boland) are all top-notch!

Below, with data from the islands Multiple Listing Service (MLS) are summary tables of the island residential sales statistics, followed by all the Sanibel/Captiva MLS action reported this week.

Along with less traffic, there also were fewer sales posted this week, on Sanibel, just one condo and four homes. No sales on Captiva.

Sanibel & Captiva Islands Multiple Listing Service Activity Apr 5‑12

Sanibel

CONDOS

3 new listings: Sanibel Siesta #103 2/2 $925K, Sanibel Moorings #741 2/2 $998,900; Lighthouse Pointe 215 3/2 $1.599M.

2 price changes: Tantara #202 2/2 now $949K, St Croix #4 2/2 now $1.699M.

1 new sale: Sanibel Siesta #605 2/2 listed at $875K.

1 closed sale: Sanibel Shores #B2 1/1 $549K.

 HOMES

7 new listings: 1215 Periwinkle Way 1/1.5 $495K, 9263 Dimmick Dr 3/2 $799K, 9126 Mockingbird Dr 3/2 $859,999; 2105 Sunset Cir 3/2 $1.125M, 1103 Schooner Pl 4/3 $1.65M, 5435 Osprey Ct 4/3.5 $2.8M, 906 Snowberry Ln 4/4.5 $5.75M.

10 price changes: 1586 Century Ct 3/2.5 now $945K, 9247 Dimmick Dr 3/2 now $1.075M, 5414 Osprey Ct 3/3 now $1.387M, 1241 Junonia St 4/3 now $1.395M, 1438 Albatross Rd 3/2.5 now $1.69M, 1365 Jamaica Dr 3/2.5 now $1.695M, 815 Birdie View Pt 3/3 no1 $1.849M, 2960 Wulfert Rd 5/5.5 now $3.289M, 408 Bella Vista Way E 4/4 now $3.5M, 4731 Rue Belle Mer 5/5.5 now $7.995M.

4 new sales: 2005 Mitzi Ln 2/2 listed at $794.5K, 1139 Seagrape Ln 3/2 listed at $1.1M, 4428 Waters Edge Ln 3/2.5 listed at $1,699,900; 4179 Dingman Dr 4/4 listed at $1.999M.

11 closed sales: 657 Cardium St 2/2 $515K, 657 Rabbit Rd 3/2 $750K, 5303 Umbrella Pool Rd 3/2.5 $979K, 211 Southwinds Dr 3/3 $1.05M, 2612 Coconut Dr 3/2 $1.05M, 4171 Dingman Dr 3/3 $1.2M, 3302 Twin Lakes Ln 3/2.5 $1.218M, 5436 Shearwater Dr 3/3.5 $2.1M, 2871 Wulfert Rd 4/4 $2.24M, 1283 Isabel Dr 3/2 $2.5M, 4681 Rue Belle Mer 3/3.5 $4.25M.

LOTS

Nothing to report.

Captiva

CONDOS

No new listings.

2 price changes: Lands End #1659 2/2 now $1.595M, Captiva Shores #6C 2/2 now $1.75M.

1 back-on-market: Beach Homes #13 4/4.5 $6.25M.

No 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.

Enjoy your weekend, Susan Andrews aka SanibelSusan

As we wrap up another mostly sunny blue-sky week on the islands, those with family and friends up north likely have been watching the results of their recent cold weather and spring snowstorms. We wish for a quick recovery to those still without power.

Here on sunny Sanibel, our fallout from those storms was a brief shower Wednesday night, then temperatures dipping down into the 60’s/70’s. Not to worry, daytime highs here should be back into the 80’s (degrees F) next week. Meanwhile, it still is post-hurricane paradise with more noticeable recovery progress. Our lighthouse still wearing a protective coat!

Sanibel School Seahorse Chorale Receives “Gold”

Islanders were proud this week to hear that The Sanibel School Seahorse Chorale received a “gold” rating for their performance at Carnegie Hall on Monday night. Founded in 2016 by school Music Director Joey Giangreco, this middle school choir, has performed at Disney, but earning their way to the most famous stage in the world, especially following the turmoil following Hurricane Ian, made this a trip of a lifetime for these students and their chaperones. Their ambitious fundraising efforts to make the trip were supported by many.

Thanks to proud parent Melissa Halliburton for allowing me to share her photos, which first show the singers at sound-check, then after their performance, followed by Mr. Giangreco holding their award, which is the highest possible from this prestigious stage. Congratulations to all!

Sanibel Events & Openings

Ding Darling Visitor & Education Center – reopens tomorrow, Saturday April 6, after a temporary closure to complete post-hurricane renovations. It is free to the public Saturdays through Thursdays (closed Fridays) from 9 a.m. to 4 p.m.

More “Ding” Darling Fun – Solar Eclipse Celebration – Monday, April 8 from 2:30 to 3:30 p.m. at The Roost with speaker from Florida Gulf Coast University, chance drawing, moon pies, viewing of the new Roving Ranger, & eclipse watching with free pair of ISO 12312-2 certified eclipse glasses.

Sanibel Public Library – Solar Eclipse Viewing – starting at 1 p.m. with eclipse glasses available to use during the viewing. Peak is expected around 3 p.m.

Sanibel Community House – Arts & Crafts Fair – Sunday, April 7, from 9 a.m. to 2 p.m. Talented post office artist, Laura, will be there.

Wickies Lighthouse Restaurant – at 362 Periwinkle Way, opened Tuesday, April 2. They serve breakfast from 7:30 to 11 a.m., lunch from 11 a.m. to 4 p.m., and dinner from 4 to 9 p.m. Menus on-line at www.WickiesLighhouseRestaurant.com.

More on NAR’s Proposed Litigation Settlement

Like politics, if a subject or event makes good reading, journalists and newscasters will continue to exploit it. So… Realtors® like my team continue to get questions about the National Association of Realtors® (NAR) Proposed Settlement, particularly as more articles come out about it.

My favorite is when Barbara Corcoran said that “it’s not a big deal”, but “the settlement has resulted in “total confusion” across the real estate industry.”

Maybe a few words from Florida Realtors® 2024 President and my friend Gia Arvin will help clear up some confusion. She said the proposed settlement would not impact the important work Realtors® continue to do statewide and nationally. “As we absorb the announcement from the National Association of Realtors® regarding this proposed settlement, Florida Realtors® looks forward to continued opportunities for our members to provide their expertise and valued services to help consumers through the complex, challenging and ever-changing homebuying and home-selling process.”

The settlement stems from the Sitzer-Burnett class-action lawsuit that was filed in federal court by a group of Missouri home sellers against NAR and other defendants, including Anywhere, Berkshire Hathaway HomeServices, Keller Williams and Re/Max. The plaintiffs claimed commission rates were inflated due to multiple factors, including cooperative compensation. In October, a jury ordered the defendants to pay nearly $1.8 billion.

Interim NAR CEO Nykia Wright said the settlement achieves two organization goals: preserving consumer choice and protecting members. “Ultimately, continuing to litigate would have hurt members and their small businesses,” Wright said. “While there could be no perfect outcome, this agreement is the best outcome we could achieve in the circumstances. It provides a path forward for our industry, which makes up nearly one-fifth of the American economy, and NAR. For over a century, NAR has protected and advanced the right to real property ownership in this country, and we remain focused on delivering on that core mission.” In addition to release from liability, the proposed settlement includes:

Compensation offers moved off the MLS: NAR has agreed to implement a new rule prohibiting offers of compensation on the MLS. Offers of compensation could continue to be an option consumers can pursue off-MLS through negotiation and consultation with real estate professionals. And sellers can offer buyer concessions on an MLS (for example—concessions for buyer closing costs). This change will go into effect mid-July 2024.

Written agreements for MLS participants acting for buyers. NAR has long encouraged members to use written agreements because they help consumers understand exactly what services and value will be provided, and for how much. The settlement provides that MLS participants working with buyers must enter into written representation agreements with those buyers. This change also will go into effect mid-July 2024.

Settlement payment: NAR would pay $418 million over approximately four years.

NAR continues to deny any wrongdoing: NAR has long maintained that cooperative compensation and current policies are good things that benefit buyers and sellers. They promote access to property ownership. With this settlement, NAR is confident that its members can still achieve all those goals.

8th Property Insurer Enters Florida Market

The below article by Amy Connolly was posted yesterday on Florida Realtors®:  “The Florida Office of Insurance Regulation’s (OIR) said the state’s insurance market is continuing to strengthen with more carriers.

“TALLAHASSEE, Fla. – Another property and casualty insurer was recently approved to enter Florida’s insurance market, bringing a total of eight new insurers following legislative reforms aimed at stabilizing the market, state insurance regulators said Wednesday.

“The Florida Office of Insurance Regulation (OIR) said Ovation Home Insurance Exchange, the most recent approval, joins Manatee Insurance Exchange, Condo Owners Reciprocal Exchange, Orange Insurance Exchange, Orion180 Select Insurance Company, Orion180 Insurance Company, Mainsail Insurance Company and Tailrow Insurance Companies.

“”Florida’s insurance market continues to strengthen, showing signs recent legislation is having positive impacts to the property insurance market,” Insurance Commissioner Michael Yaworsky said. “OIR remains steadfast in our efforts to stabilize Florida’s insurance market by implementing legislative reforms and recruiting more insurers to the state. We look forward to continuing this work and promoting a competitive market for policyholders.”

“OIR also approved the acquisition of Florida domestic property and casualty reciprocal insurer, Trusted Resource Underwriters Exchange, to allow the existing company to grow its footprint in the state and expand its underwriting capacity. As a result of OIR’s approval of the acquisition, more than $1.25 billion of capital is being invested into Florida’s property and casualty insurance market, the agency said.

“OIR officials also said Citizens Property Insurance Corporation is showing improvement in its financial strength over the previous years. Citizens’ surplus increased by approximately 17.5% from previous years. Citizens posted a net income in 2023 of $746 million compared to a loss of $2.2 billion in 2022. Additionally, Citizens’ combined ratio improved from the previous year from 204.4% to 59.5%.

“State insurance regulators said they hope to see a continued interest from authorized insurers in the Citizens depopulation program. So far this year, OIR has approved 13 companies to assume more than 354,000 policies from Citizens. In 2023, more than 275,000 policies were assumed from Citizens, reducing Citizen’s exposure by more than $113 billion.

“The OIR also said Florida’s domestic property insurance companies produced a combined net underwriting in 2023 that almost broke even, a marked improvement from losing over a billion dollars in the past three consecutive years.  When combined with investments, the domestic carriers showed a net positive income in 2023 for the first time since 2016, officials said.

“OIR said 2023 year-end data shows a “much lower degree of uncertainty in the property insurance market,” because insurers reported lower loss reserve development. A loss reserve is the amount the insurer believes that claims will cost. At periodic points in time, an insurer goes back and evaluates how much those claims actually cost and uses that information to inform reserves going forward.

“From 2022 to 2023, Florida domestic insurers, including Citizens, have reported a 44.8% decrease from $772 million to $398 million in loss reserve development at the two-year look-back period and a 28% decrease from $224 million to $161 million at the one-year mark.

“Additionally, OIR said the Florida Hurricane Catastrophe Fund rates are decreasing for participating insurers by a statewide average of 7.38%. The rate decreases are in part based on modeled loss cost indications, even while exposure grows, officials said.”

Sanibel & Captiva Islands Real Estate News

The local Association of Realtors® did not meet again this week, but yesterday our members were invited to a Florida Realtors® District 5 Home Grown Advocacy Tour Event at the Naples Area Board of Realtors®.

Next week, our local Professional Development Committee will meet Tuesday morning. Then on Thursday April 11, there is a Sanibel/Captiva Caravan Meeting followed by Open House tour.

Below, with data from the islands Multiple Listing Service (MLS) are summary tables of the island residential sales statistics, followed by all the MLS action reported this week.

As “season” continues to wind down, there were nine new sales on Sanibel (two condos/seven homes). None on Captiva. Two other Sanibel properties (one condo and one home) previously under contract, are now back on the market.

During the last week, 19 Sanibel properties also had price reductions (four condos,13 homes, and two lots). There also were ten closings on Sanibel (two condos and eight homes) and two on Captiva (both condos).

Last year at this time, 41 Sanibel condos had closed/compared to 22 now; and 102 Sanibel homes had closed compared to 51 this year. Similarly, seven Sanibel lots sold last year through April 5, compared to five this year.

It is an interesting market to follow, and difficult to predict. Usually when snowbirds are back home, the market here softens for a few months. This being an election year probably further complicates that, but I think there are buyers waiting for just the right property at the right price. If they don’t need it until next winter, it could again be a quiet summer.

On the commercial side, Driftwood Inn, which has four units (nightly rental) went under contract this week. The asking price is $2.595M.

Sanibel & Captiva Islands Multiple Listing Service Activity Mar 29‑Apr 5

Sanibel

CONDOS

4 new listings: Sanibel Arms #D2 1/1 $375K, Mariner Pointe #1023 2/2 $599K, Sanibel Moorings #1422 2/2 $875K, Shell Island Beach Club #7B 2/2 $995K (SanibelSusan listing).

4 price changes: Beach Road Villas #104 2/2 now $580K, Oceans Reach #4D1 2/2 now $860K, Sanibel Sunset #102 3/2 now $1.689M, Tigua Cay #487 3/3.5 now $2.1M.

1 back-on-market: Gulfside Place #125 2/2 $1.895M.

2 new sales: Spanish Cay #C6 2/2 listed at $439K, Blind Pass #C201 2/2 listed at $599K.

3 closed sales: Island Beach Club #P1F 2/2 $728,626; Loggerhead Cay #181 2/2 $775K, Gulfside Place #208 2/2 $1.25M.

HOMES

4 new listings: 3180 Twin Lakes Ln 3/2 $1.21M, 1290 Par View Dr 3/3 $1.549M, 1272 Par View Dr 3/3.5 $2.395M, 761 Limpet Dr 3/2 $2.895M.

14 price changes: 9428 Moonlight 3/2 now $849K, 9126 Mockingbird Dr 32 now $859,999; 653 Oliva St 3/2 now $915K, 1615 Serenity Ln 3/2 now $929K, 1586 Century Ct 3/2.5 now $949K, 220 Palm Lake Dr 3/3 now $1.099M, 421 Lake Murex Cir 3/2 now $1.125M, 6090 Dinkins Lake Rd 3/3.5 now $1.295M, 3708 Agate Ct 3/3.5 now $1.37M, 3205 Twin Lakes Ln 3/2 $1.4M, 979 Whelk Dr 3/3 now $2.099M, 851 Angel Wing Dr 5/4 now $2.399M, 1318 Seaspray Ln 5/3.5 now $2.495M, 2287 Starfish Ln 4/4 now $2.5M.

1 back-on-market: 2969 Wulfert Rd 6/7.5 $3.195M.

7 new sales: 863 Rabbit Rd (1/2 duplex) 3/2 listed at $678.5K, 931 S Yachtsman Dr 4/3.5 listed at $948K, 1376 Sand Castle Rd 3/2 listed at $979K, 396 Lake Murex Blvd 3/2 listed at $1.1M, 440 East Gulf Dr 3/2 listed at $1.15M, 235 Daniel Dr 3/3 listed at $1.495M, 900 Almas Ct 4/4.5 listed at $2.15M.

8 closed sales: 2066 Wild Lime Dr 2/1 $650K, 6460 Pine Ave 3/2 $1M, 737 Vinca Way 3/2 $1M, 3212 Twin Lakes Ln 3/3 $1.1M, 1067 Sand Castle Rd 4/2 $1.225M, 920 Almas Ct 3/2.5 $1.519M, 840 Birdie View Pt 3/2.5 $1.85M, 1769 Venus Dr 3/2 $1.925M.

LOTS

No new listings.

2 price changes: 967 Fitzhugh St now $275K, 1757 Windward Way now $399.9K.

No new or closed sales.

Captiva

CONDOS

1 new listing: Lands End #1659 2/2 $1.6M.

No price changes or new sales.

2 closed sales: Lands End #1657 2/2 $1.25M, Captiva Beach Villas #B 3/2.5 $3.295M.

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.

The latest edition of the island “Real Estate Guide” was in today’s mail. Our ad is below.

Enjoy your weekend, Susan Andrews, aka SanibelSusan

It’s been another week of nice sunny breezy Florida weather which has meant more visitors and more traffic… all pieces of the puzzle in island restoration. The wind did a number on the protective materials around the lighthouse, but it looked fixed today. There, the gulf-side parking lot was full before noon, with shelling great. Beach lovers and windsurfers are out, and the islands busier than in many months.

During my Sanibel drive-around this morning, I noticed a few other things: First, I was looking for some spring blooms to photograph. Here are several beautiful Golden Rain trees, I spotted, including a couple of hurricane survivors.

Regarding post-storm improvements, I passed many contractors, landscapers, and delivery trucks, and many homes looking better, including more being raised, more demolished, more being repaired, and more new construction. I also smiled when I spotted this new mailbox, reminding me of the flamingoes that have been spotted here since the storm.

I also saw:

• Sand trucks working on beach restoration lined up on the former West Wind Inn site.
• Many new windows are in at Sand Pointe.
• New tropical roadside landscaping at Somerset.
• Another eagle returned to Rocks West (said a neighbor).
• Big turnout of pickleball players on the Sundial courts.

Below is info on some other posted announcements.

Events, Re-Openings & Other Plans

BIG ARTS Community Chorus Spring Concert – As an original member of the BIG ARTS Community Chorus (since 1992), I was disappointed not to participate in their session that is wrapping up with the spring concert next Friday, April 5 at 7 p.m. Unfortunately, with so many facilities not back in operation and traffic delays, our Association of Realtors® meeting times were rescheduled, conflicting with Chorus rehearsals which also were changed. Fingers crossed that all gets back to normal by fall. In the meantime, concert tickets are available on-line at https://bigarts.org/event/big-arts-community-chorus-spring-concert/

Captiva Civic Association – https://www.youtube.com/watch?v=xQXiizGLC0I to watch their 6-min Protect Captiva video with legal update, featuring interviews with:

• Jay Brown, President, Captiva Community Panel
• James Evans, CEO, SCCF
• Porter Goss, First Mayor, City of Sanibel
• Tony Lapi, President & Chairman, Sanibel Captiva Beach Resorts
• Richard Johnson, Mayor, City of Sanibel
• Ken Suarez, Chairman of the President’s Council, South Seas Island Resort
• Lisa Riordan, Member, Protect Captiva Steering Committee

The video chronicles why the Protect Captiva Coalition came into existence within the historical context of Sanibel and Captiva. It also features comments made by the Lee County Commissioners during hearings and meetings in 2023 as they discussed the approval of land use changes on Captiva.

Jensen’s Marina & Cottages – Jensen’s Twin Palms Resort & Marina posted they will open their doors for stays beginning June 29.

Sanibel Outlets – A Facebook post this week says: “News on Tanger Outlets just before Sanibel Causeway…. From the Lee County Economic Development Council. The owner of the Sanibel Outlet Mall Dahlmann Properties met with the county last week and discussed plans for renovation. Dahlmann Properties has engaged a renowned architect from Houston that has global experience in designing mixed used projects. He said that the project will include an art center, retail shops, dining, a courtyard, affordable housing, and upscale condos. It will be like a small-scale Mercado like in Naples. They expect to complete the permitting process this summer and begin construction in January (all subject to delays, of course). Since this doesn’t require and zoning changes, it should go through without a problem.”

Shalimar Beach Resort – Had their groundbreaking yesterday, 18 months to the day after Hurricane Ian destroyed it. Shalimar now is a vacant lot and will be a construction site for the next 18 months. It first opened in 1959. The resort will retain its 33 rooms but on a smaller footprint because of updated Federal guidelines. The hotel building will have 21 units and there will be ten 1-bedroom cottages and two 2-bedrooms. Stevens Construction is handling the project which is expected to be ready for the 2025/2026 tourist season. (I saw another FB post this morning by Fox News which says, “John Lai, President of the Sanibel-Captiva Chamber of Commerce, provided an update on the current state of available hotel rooms on the islands, “We’re at 21% if you look at both Sanibel and Captiva right now. So, we are on pace to hit 25% by the end of this year.”)

Florida Realtors® Legal Webinar

Yesterday, I was one of nearly 8K Florida Realtors® on-line for their webinar titled “What You Need to Know About the NAR Settlement”. Presented by CEO Margy Grant and Chief Legal Counsel Juana Watkins, it covered the background on the lawsuit, its status, and resulting actions. Here are my takeaways:

The plaintiffs hired listing agents in Kansas City, MO to sell their homes in the MLS. They signed listings agreeing to pay commission upon their home sales with part of the commission shared with cooperating agents.

NAR (The National Association of Realtors®) and four brokerage defendants were sued in these MO lawsuits (plaintiff “Burnett” and ultimately the class) alleging:

• Commission rates are too high,
• Buyer brokers are paid too much, and
• NAR’s Code of Conduct and MLS Handbook along with corporate defendants’ practices lead to price fixing.

On October 31,2023, following an 11-day trial an 8-person jury in Kansas City found NAR and the other corporate defendants liable. $1.78B (automatically trebled $5.4B) Since that verdict more than 20 copycat lawsuits have been filed across the country. Some settled prior to trial, after trial and most recently by the following global settlement.

On March 15, 2024, NAR announced a proposed settlement agreement that would end litigation on claims brought on my home sellers related to broker commissions. The settlement will be filed with the Court in the coming weeks and is subject to Court approval. There is NO ADMISSION OF WRONGDOING BY NAR as a part of this settlement.

Key elements:

• Resolve claims against NAR, over $1M NAR members, state/territorial and local Realtor® associations, association-owned MLSs, and all brokerage entities with a NAR member as principal that had a residential transaction volume in 2022 of $2B or below.
• Provides a mechanism for almost all brokerage entities that had a residential transaction volume in 2022 over $2B to obtain releases if they chose to use it.

Industry changes:

• Requires NAR as soon as practicable, but in no event later than the date of Class Notice, to implement the listed practice changes.
• Most changes relate to the Offer of Compensation in the MLS.
• Specifically, how the Offer of Compensation is COMMUNICATED (OFF MLS).

What will occur regarding offers of compensation in MLS?

• NAR, boards, and MLSs will eliminate and prohibit the requirement that listing brokers (or sellers) make offers of compensation to buyer brokers/representatives in the MLS. (They can make offers of compensation outside the MLS.)
• Prohibits Realtor® MLS participants and other real estate agents from making an offer of compensation to buyer brokers in the MLS.

After these changes, how can a buyer broker be paid?

• Seller may agree to pay the buyer broker.
• Listing broker/brokerage may agree to pay a portion of their compensation to the buyer’s broker.
• Seller may pay buyer concessions. (Used by buyer toward their closing costs.)
• Buyer may pay buyer’s broker (if not prohibited by their lender).

Florida Realtors® is working on a co-broke compensation agreement to provide options.

Florida Realtors® listing agreement forms were updated March 19 to reflect clarification of NAR policy.

Always disclose that “Broker commissions are not set by law and are fully negotiable.”

Deadline for changes related to offer of compensation is mid-July 2024, whether the settlement proposal is final or not . There will be new rules that require MLS participants and Realtors® working with buyers must enter into a written agreement with a buyer, before the buyer tours any home, must specify and conspicuously disclose buyer broker compensation.

Florida Realtors® forms available:

• Buyer broker agreement
• Showing agreement
• Buyer retainer agreement (new as of March)

These forms will likely be updated to reflect the settlement terms yet to be announced. The tentative date for more changes in FL is May 31, 2024, well in advance of the mid-July requirement. Stay tuned…

Sanibel & Captiva Islands Real Estate News

The local Association of Realtors® did not meet this week. Their next Caravan Meeting is Thursday April 11.

The team and I were busy this week with contractors, a new listing, and more. It was great to have less traffic on the causeway this morning (Good Friday), as daytime traffic has been challenging since last weekend.

Below, with data from the islands Multiple Listing Service (MLS) are summary tables of the island residential sales statistics, followed by all the MLS action reported this week.

Sanibel had 25 price reductions this week and just five new sales, both indicators that “season” is wrapping up.

On the commercial side, there also were two price reductions, both posted today: 1544 Periwinkle Way now $1.45M and gas/service station at 1067 Bailey Rd now $2.85M.

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

Sanibel

CONDOS

2 new listings: Cottage Colony West #140 1/1 $575K, Heron at The Sanctuary II #1-2A 3/2.5 $989K.

7 price changes: Captains Walk #B5 2/1 now $454K, Tennisplace #C34 2/1.5 now $539K, Blind Pass #B211 2/2 now $560K, Sunset South #12 C 2/2 now $600K, Sandpiper Beach #103 2/2 now $765K, Somerset #B101 3/3.5 now $1.95M, Tamarind #B302 3/2 now $2.689M.

1 back-on-market: Sunset South #9B 2/2 $599.9K.

2 new sales: Oceans Reach #4B4 1/1 listed at $689K, Gulfside Place #125 2/2 listed at $1.895M.

3 closed sales: Island Beach Club #220A 2/2 $540K, Bandy Beach #E101 3/2 $800K, LaPlaya #2A 3/2 $1M.

HOMES

6 new listings: 9003 Mockingbird Dr 5/4 $959K, 1376 Sand Castle Rd 3/2 $979K, 1139 Seagrape Ln 3/2 $1.1M, 1550 Wilton Ln 3/2.5 $1.148M, 519 Kinzie Island Ct 4/4.5 $2.899M, 4443 Waters Edge Ln 4/2.5 $7.49M.

16 price changes: 970 Greenwood Ct S 3/2.5 now $799K, 653 Oliva St 3/2 now $915K, 931 S Yachtsman Dr 4/3.5 now $948K, 1813 Long Point Ln 4/2.5 now $950K, 3990 Coquina Dr 3/2 now $950K, 1586 Century Ct 3/2.5 now $975K, 4797 Rue Helene 3/2 now $1.25M, 1018 S Yachtsman Dr 3/3 now $1.289M, 742 Nerita St 3/2 now $1.35M, 5542 Shearwater Dr 3/2.5 now $1.397M, 3205 Twin Lakes Ln 3/2 nor $1.425M, 2711 Wulfert Rd 4/4.5.5 now $1.798M, 1507 Angel Dr 3/2.5 now $2.295M, 1052 Whisperwood Way 3/3 now $2.5M, 2567 Coconut Dr 3/2 now $2.549M, 2960 Wulfert Rd 5/5.5 now $3.449M.

1 back-on-market: 1251 Par View Dr 3/2.5 $790K.

3 new sales: 1105 Skiff Pl 3/2 listed at $749K, 6141 Henderson Rd 3/3 listed at $989K, 9020 Mockingbird Dr 3/2 listed at $1.595M.

6 closed sales: 998 Greenwood Ct N 3/2.5 $670K, 3312 Saint Kilda Rd 3/2 $680K, 198 Southwinds Dr 3/2 $1.19M, 4279 Gulf Pines Dr 4/3 $1.2M, 5298 Umbrella Pool Rd 3/2.5 $1,382,500; 558 N Yachtsman Dr 2/3 $1.8M.

LOTS

No new listings.

2 price changes: Bowmans Beach Rd 25 now $160K, Bowmans Beach Rd 27 now $175K.

No new or closed sales.

Captiva

CONDOS

1 new listing: Sunset Captiva #103 2/2 $1.85M.

No price changes.

4 new sales: Bayside Villas #4220 1/2 listed at $610K, Sunset Captiva #204 2/2 listed at $1.9M, Beach Homes #16 4/4 listed at $5.5M, Beach Homes #13 4/4.5 listed at $6.25M.

No closed sales.

HOMES

No  new listings.

1 price change: 11517 Wightman Ln 4/3 now $2.999M.

1 back-on-market: 11516 Wightman Ln 5/4.4 $3.499M

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.

Enjoy your Easter weekend, Susan Andrews, aka SanibelSusan