Island Shelling Bonanza for Labor Day

Posted on September 2, 2016 by SanibelSusan

Sanibel Lighthouse beach yesterday 9/1/2016, photo by Andy Johnson, Sanibel Surveys

It is SanibelSusan reporting that all is well on Sanibel. The islands did not have much sunshine this week. It tried to peek out a little mid-morning, but this afternoon just brought another heavy rain band from Hermine. We certainly are thankful that tropical storm passed by yesterday with just a few showers, wind, and a little high water, before it developed into Florida’s first hurricane in 11 years.

Early today, it swept ashore near Tallahassee and may cause havoc over the few days as it heads through Georgia, the Carolinas, and the eastern seaboard. Certainly not what many want for their last holiday weekend of the summer.

Photo of some found after the storm, photo by Pam Rambo, http://www.iLoveShelling.com

Though Hermine missed the islands, we knew she was out there as high tide about midday yesterday pushed water up over many docks and seawalls. High water washed over many sea turtle nests too.

Later, much of the island was without power briefly in the afternoon and then local TV stations were on the causeway late day filming the waves crashing across the bridge barriers. Really much to do about nothing. The locals are ready for some great shelling once the waves subside.

Holiday occupancy this weekend could be hit or miss with many properties now vacant after getting cancellations. Most flights in and out of the regional airport were posted as on time this morning, but interstate highway travel probably is hampered since north-south I-75 and east-west I-10 were in the cross-hairs of the storm.

Though it dropped a lot of rain on Florida, the storm’s path also spared Lake Okeechobee so should not result in increased water releases down the Caloosahatchee River. Sanibel Natural Resources director, James Evans, was quoted midweek as saying that “flows from the lake have actually decreased this week.” That’s what we like to hear!

The action posted this week in the Sanibel & Captiva Multiple Listing Service follows a few news items below. With September always the “slow” month on the island, it is a good time to preview property, sooo if you are thinking of buying, now is the time to look

Bailey-Matthews National Shell Museum

bailey-mathews shell museum sign The Shell Museum is starting an ambassador program which will train volunteers to be educational guides on Sanibel’s beaches. These trained volunteers will be on the beaches, wearing “ambassador” shirts, answering questions and training visitors about the ecosystem and Florida shelling laws. Training will start in October, call the museum for more info (239-395-2233 or 888-679-6450).

Inaugural Sanibel Jazz & Blues Festival

Sponsored by the Sanibel/Captiva Optimist Club, the first Sanibel Jazz & Blues Festival is planned at the Bailey’s Shopping Center on November 6 from 1 to 7:30 p.m. Proceeds to benefit college scholarships.

Headliners include: Matt Schofield, blues guitarist & singer from England; JP Soars & the Red Hots; and the local favorite Marty Stokes Band.

“Ding” Darling Wildlife Society – Friends of the Refuge New Web Site

Check it out at www.dingdarlingsociety.org

Closings/Openings/Moves

The new Doc Ford’s opening 9/9/16.

Doc Ford’s – It’s finally happening! The Doc Ford’s on Rabbit Road will serve its last meals over the holiday weekend (on Monday Labor Day night), then it’s on to their new flagship location at the corner of Island Inn and Tarpon Bay Road across the street from Bailey’s Shopping Center. I had my last lunch at their old location today where they are excited, but sad to be saying goodbye. They will have an “open house” at their new building on Thursday, September 8, from 5 to 7 p.m., then the new restaurant will open officially next Friday, September 9. The menu at their new location will be the same. One of the biggest differences at the new facility is the size of the kitchen which is twice as big. The new restaurant is ~7,600 sq. ft. and seats about 225, similar to their old, but the new restaurant is all under one roof. The interior was built with mostly reclaimed materials. The wood is reclaimed and the lighting fixtures were taken from vintage boats and refurbished. http://www.DocFords.com
Ickle Pickle Children’s Boutique – has moved to Palm Ridge Plaza (across from CVS). www.ickle-pickle.com
MacIntosh Books & Paper – also has relocated to 2330 Palm Ridge Road, www.macintoshbooks.com

South Florida Housing

According to a S&P CoreLogic Case-Shiller index released this week, South Florida (Palm Beach, Broward, and Miami-Dade counties) outperformed most of the nation with a 6.9% annual increase in home prices (in June).

CoreLogic Case-Shiller indexes cover states, counties, metros and ZIP codes across the US and help securities investors, mortgage banks, servicing operations, and government agencies make property valuations, assess and manage risk, mitigate losses, and control appraisal quality.

The growth in prices ranked these counties on Florida’s west coast beaches sixth among 20 metro areas nationwide. Portland, OR., led all areas with a 12.6% price gain, followed by Seattle (11%) and Denver (9.2%).

Dallas, at 8.9%, and Tampa, at 7.9%, were the only other markets with higher price increases than South Florida in June. The national average was 5.1%.

David M. Blitzer, chairman of the index committee for S&P, said that the housing market overall remains healthy, driven in part by a limited supply of homes for sale. “Nationally, home prices have risen at a consistent 4.8% annual pace over the last two years without showing any signs of slowing,” he said.

Housing analysts consider the index one of the best barometers of home prices. It measures the price of the same house over time, though the index trails local Realtor® association figures.

According to an article Wednesday in Fort Lauderdale’s “Sun Sentinel”, “South Florida Realtor® boards released reports last week for July showing annual price increases among single-family homes in all three counties despite declines in sales. Some agents say buyers are holding off because sellers aren’t pricing properties to market value.”

Sanibel & Captiva Islands Multiple Listing Service Activity August 26-September 2, 2016

Sanibel

CONDOS

5 new listings: Mariner Pointe 2/2 #522 $495K (our listing), Mariner Pointe #733 2/2 $519K, Mariner Pointe #533 2/2 $529K, Blind Pass #B203 3/2 $575K, Sundial East #L401 2/2 $749K.

View from Mariner Pointe #522

1 price change: Tanglewood #1A 3/2 now $1.1345M.

2 new sales: Loggerhead Cay #462 2/2 listed at $539K, Surfside 12 #B3 3/2 listed at $1.124M.

2 closed sales: Island Beach Club #210B 2/2 $584.15K, Sundial West #A203 1/1 $700K.

HOMES

2 new listings: 1040 Sand Castle Rd 3/2 $639K, 5125 Joewood Dr 3/4 $2.595M.

2 price changes: 5240 Caloosa End Ln 3/3 now $999.9K, 2118 Starfish Ln 4/5 now $1.849M.

No new sales.

5 closed sales: 1635 Sand Castle Rd 3/2.5 $435K, 975 Sand Castle Rd 3/2.5 $706K, 823 Limpet Dr 3/2/2 $1.18M, 2251 Starfish Ln 4/3.5 $1.189M, 4257 West Gulf Dr 4/4.5 $4.225M.

LOTS

No new listings or price changes.

1 new sale: 1837 Buckthorn Ln now $439.9K.

No closed sales.

Captiva

CONDOS

No new listings or price changes.

1 new sale: Marina Villas #807 2/2 listed at $670K.

No closed sales.

HOMES

2 new listings: 11535 Chapin Ln 4/4 $1.549M, 15133 Captiva Dr 3/3 $3.295M.

No price changes, new, or closed sales.

LOTS

Nothing to report.

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

Until next Friday, wishing you a wonderful holiday weekend! Susan Andrews, aka SanibelSusan

It’s a Happy May on Sanibel & Captiva

Posted on May 20, 2016 by SanibelSusan

SanibelSusan here reporting another quiet week on the islands. There were no traffic directors at the Periwinkle intersections today and even the resorts have vacancies – a typical pre-summer pattern – but also a wonderful time to be here. Most locals swear that May and October are the best months on the islands – great weather and easy maneuvering when enjoying “all” of the things to do here – and the Royal Poinciana are in bloom in all their splendor!

LakeMurexRoyal1

In the island real estate world, there was no Realtor® Caravan Meeting yesterday. Considering that it is “after season” though, a surprising number of new Sanibel listings came on the market this week (12 over the last seven days). There also were nine price reductions, and ten closings. Not so much real estate action on Captiva, however, where there were no new listings, but four price reductions, and three new sales.

It’s a terrific time to be come to look at property as most listings are easy to view and probably will be until schools are out and summer vacationers start arriving.

The details of the activity posted since last Friday in the Sanibel and Captiva Multiple Listing Service follow a few news items below.

23^rd Annual Sam Bailey’s Island Night

On Wednesday, June 1, Island Night will return to Hammond Stadium at CenturyLink Sports Complex when the Fort Myers Miracle play the St. Lucie Mets. This is the 23^rd year of this annual community tradition that encourages islanders to come together for a fun evening of baseball and camaraderie. Pre-game festivities with parade begin at 5:30 p.m. with the game at 7:05 p.m. Tickets are free and available at Bailey’s General Store (both in Bailey’s Center and at Sundial Beach Resort & Spa) and at event sponsors which include island service organizations. Again this year, the Sanibel-Captiva Kiwanis Club and the Sanibel-Captiva Rotary Club will be in a friendly competition to support local charities.

2016 Sanibel Prescribed Burns

Sanibelcityseal logo Yesterday, Sanibel’s Natural Resources Department issued the following news release about the upcoming prescribed burns:

“During the 2016 spring/summer season, the Sanibel Prescribed Fire Partnership will be looking to conduct prescribed burns on the following conservation lands:

Bailey Tract (USFWS J.N. “Ding” Darling National Wildlife Refuge)
Frannies/Johnston Tract (SCCF)
Sanibel Gardens Preserve (City of Sanibel/SCCF)
South Center Tract & Postell Tract (SCCF & City of Sanibel)
Gulfside City Park Extension (City of Sanibel)

“To view a map of the conservation lands, please click here.

“We would like to invite the public to an informational meeting on Thursday, May 26, 2016 at 1:00 p.m. in the “Ding” Darling Visitor and Education Center to discuss the burn plans and address any questions or concerns.

“When forecasted conditions are favorable, the Sanibel Prescribed Fire Partnership will issue further notification that a prescribed burn is possible and identify the specific location of the burn. All prescribed fires must be authorized by the Florida Forest Service on the morning of the scheduled burn. A change in the forecast conditions may result in cancellation of the planned burn. A prescribed fire will NOT be conducted if the prescription conditions cannot be met prior to ignition or if conditions change after the prescribed fire has been ignited.

“A burn plan, or “prescription,” has been established for the priority areas within these conservation lands. The prescription details the required conditions that must exist in order for a prescribed burn to take place. These include environmental conditions such as soil moisture, fuel conditions, and recent rainfall as well as forecasted and actual weather conditions including temperature, relative humidity, wind speed and wind direction. Following a predefined prescription allows fire management officers to establish the desired fire behavior (intensity, flame length, direction of fire spread and smoke). The prescription also identifies the number of qualified fire personnel needed to conduct the burn as well as the types and number of equipment required to safely complete the burn.

“Why are prescribed fires needed?

“Fire is a natural part of Florida’s ecosystem, historically set by lightning. Because of this history of periodic fires many of Florida’s natural communities are adapted to burning. Fire removes old vegetation, promotes new growth of native vegetation and suppresses the growth of non-native invasive plants. In the absence of fire many plant communities are displaced by dense, woody vegetation which can reduce plant diversity and eliminate foraging opportunities for the island’s wildlife. Species such as the gopher tortoise, eastern indigo snakes, and the Sanibel rice rat all depend on a fire maintained ecosystem. In addition to the natural benefits of fire, carefully planning and conducting managed burns can prevent the likelihood of catastrophic wildfires and help preserve the natural ecology of the area. This technique, called “prescribed fire,” reduces the amount of vegetation – or “fuel”-that would be available in the event of a wildfire.

“Why can’t prescribed burns be conducted some other time?

“The window of opportunity for conducting prescribed burns in southwest Florida is very narrow and may vary from year to year. By mid to late spring, soils and fuels are often too dry and prescribed fires may be prohibited by State authorities. By mid- to late summer, soils on Sanibel are often too wet, humidity is high, and afternoon thunderstorms render wind conditions unsuitable. Plus, on any given day all the conditions detailed in the prescription must be met and personnel and resources must be available to conduct the burn. To maximize our opportunities for conducting prescribed fires, the Sanibel Prescribed Fire Partnership has identified a number of priority burn sites for 2016. Because the prescription requirements for each site are different, this provides us with the flexibility to determine if the forecast conditions will meet the prescription requirements for any of the priority burns sites and then to schedule the prescribed fire accordingly.

“What can I expect on the day of a prescribed burn?

“Depending on the wind direction and strength, it may be possible to see or smell smoke. The fire prescription identifies the specific wind conditions necessary to achieve the burn objectives while minimizing smoke impacts to roads and communities. However, smoke and ash associated with a prescribed burn cannot be prevented. Smoke sensitive individuals should keep their windows closed and avoid outdoor activities in the affected areas. If you would like to be registered on the City’s list of smoke sensitive individuals, please contact Joel Caouette in the City’s Natural Resources Department at (239) 472-3700. Once registered, the City will notify you in advance of any prescribed burn on Sanibel.

“During the prescribed burn operations, residents and visitors are encouraged to:

close windows
cover pools
move cars and furniture indoors
stay indoors to minimize the impacts from smoke
visit other areas of the Island away from the burn site
abide by all signs, road closures, and instructions about closed areas provided by law enforcement and fire personnel

“After the prescribed burn has been completed, there may be occasional smoke or burning embers seen from the burned area for several days. Fire personnel will monitor the burned area and adjacent roads, day and night, taking all precautions and maintaining readiness to minimize fire activity and smoke impacts to the public. Do not be alarmed if you see smoke or burning embers within a burned area.

“Is Sanibel at risk for wildfires?

“Of course! However, prescribed fires, planned and carefully conducted by well-trained and experienced fire personnel are a cost-effective way to reduce fuel loads on Sanibel and reduce the risk of a catastrophic wildfire. To address safety and wildland fire issues on Sanibel, the City of Sanibel, the Sanibel Fire and Rescue District, the Sanibel-Captiva Conservation Foundation, and the U.S. Fish & Wildlife Service’s J.N. “Ding” Darling National Wildlife Refuge formed the “Sanibel Firewise Task Force.” To reduce the risk of wildfire around your home, the Sanibel Firewise Task Force recommends that you:

Trim dead palm fronds from trees
Trim tall grasses near the home
Prune large, leafy hardwood trees so the lowest branches are six to ten feet above the ground
Do not store combustible materials such as gasoline containers, firewood, and building supplies under or around the home, and
Keep mulch and other landscaping material well watered

“For additional information regarding fire and prescribed burning on Sanibel, please contact the City of Sanibel Natural Resources Department at (239) 472-3700.

Watch Out for Inflation

As follow-up to the 2016 National Association of Realtors® (NAR) Legislative Meetings and Trade Expo in Washington, DC last week, here are some predictions from NAR Chief Economist Lawrence Yun as reported in Friday’s “Daily Real Estate News”:

“Home sales will grow modestly this year, but a continuing inventory shortage will keep upward pressure on prices and make it hard for many people to buy, even though interest rates remain low…

“Yun predicted existing home sales will rise to 5.5 million at the end of the year, up slightly from 5.4 million last year. New-home sales will rise to 540,000 units from half a million, but because that segment of the market is currently so far below historical levels, the gains won’t come close to closing the inventory gap, Yun said.

What’s more, most new homes are at higher price points, exacerbating affordability struggles for first-time and moderate-income home buyers. Yun said larger homes are the most profitable for builders, who have to worry about meeting local ordinances and other costs. He added that most new homes come on the market at more than $300,000.

“The West saw home prices rise 35% over the last three years, making that the least affordable part of the country and dampening sales there, he said. While sales increased almost 20% last year in the Northeast, they dropped almost 10% in the West.

“Inventory shortages continue to be a main driver of price increases, which were almost 7% nationally last year. The increase far outpaced wage gains, which were up only about 2%. Yun is forecasting prices to rise another 4.5% this year.

“Continuing low interest rates are a bright spot, but Yun warned that when inflation picks up, mortgage rates will follow suit. Yun said today’s low consumer price index (CPI), at about 1.7%, doesn’t reflect the rise in prices people are seeing on everyday items because low gas prices are keeping the broader index down.

“But CPI won’t stay low forever. Yun said the monthly rental rate tenants pay is going up (almost 4% this year, a seven-year high) and that will send the broader index up. When that happens, the Federal Reserve will raise the short-term interest rate it charges banks, which in turn will impact mortgage rates.

“Right now he’s forecasting mortgage rates to be at 3.9% at the end of this year, about where they were last year, and to rise to 4.6% in 2017. Yun identified 6% as a mortgage-rate threshold, noting anything much higher than that will curb home sales. “If rates get to 7 or 8%,” he said, “watch out.”

“Bottom line: Look for modest market growth this year and next, but as long as inventory shortages persist, homes will become increasingly unaffordable. Once mortgage rates start going up, which they could do as rental rates continue rising, sales will be hurt.”

What Makes a Smart Home Smart?

smart-home-essentials-for-living-85947231 Interesting info posted last week on FloridaRealtors® and sourced to “Smart Home Glossary,” and “Smart Home and Internet of Things FAQ,” CRT Labs (May 2016)

“More consumers than ever see the benefits of buying a home with smart technology. A 2016 Coldwell Banker survey found that owners believe smart home technology makes their home safer, saves them money and saves them time.

“The same survey also found that 54% of homeowners would buy or install smart home products if they were selling their home because they believe it would make the home sell faster.

“In order to help agents and consumers understand the common smart home benefits and buzzwords, CRT Labs put together a guide. Here are some highlights:

“Smart home terms and facts

“What are the benefits of smart home technology?

“Smart home technology automates household tasks like adjusting a home’s temperature, unlocking the front door or opening the garage door using voice-activation devices. Smart devices can work together to offer owners safety by alerting them if something in their home seems amiss, and it can save owners money by automatically controlling the temperature and energy of a home. Insurance companies and utility companies may offer reduced rates and rebates for homes with smart devices.

“Who owns the data, how is it used and are there security risks?

“A home’s smart home data can be used in a variety of ways, according to CRT Labs. Data is “generally used by smart device companies to improve product development and provide additional services to their customers,” but: “You should also read the vendor’s privacy policy to see what they are legally allowed to do with the data. They may allow themselves to sell your data to third parties, so read carefully.”

“What’s the impact on selling prices?

“On a large scale, the financial impact is yet to be seen since the technology is so new, but survey results showed that 72% of millennial owners would spend $1,500 or more to add smart home technology. Fifty-nine percent of parents with children would also pay more for a smart home, according to Coldwell Banker’s survey.

“3 smart home phrases to know:

“IoT (Internet of Things): This buzzword describes automated devices like lights, thermostats and locks that work together and are connected by the Internet. IoT products use data to simplify things that previously weren’t automated.

“Hub: In the world of smart homes, a hub is almost like a universal remote, according to CRT Labs. A hub is the main device that connects all of the different smart home products together so they’re all automated.

“SmartMeter: These electric and gas meters help owners monitor their utility usage by sending real time meter readings.”

Leaving Your Property for the Summer

Some excellent tips were posted this month in “LCEC News” (Lee County Electric Cooperative):

“If you are leaving your home for the summer, there are some very important tasks you should consider to keep your home in tip-top shape while you’re gone:

Enroll in LCEC kiloWATCH so you can be alerted of any unusual electricity usage. Sign up at www.lcec.net.
Avoid mildew damage by installing a timer on the air conditioner to cycle the air for two hours per day. Or install a humidistat and set it to cycle when indoor humidity reaches 65%.
Unplug the water heater.
Leave all interior doors open to promote airflow. Space out clothing, shoes, and other stored materials for the same reason.
Fill jugs of tap water to put inside the refrigerator/freezer – a full unit will use less power than an empty one.
Finally, have a neighbor, friend, or professional house sitter check your home periodically during your absence.”

Sanibel & Captiva Islands Multiple Listing Service Activity May 13-20, 2016

Sanibel

CONDOS

3 new listings: Tennisplace #D22 1/1 $249.9K, Loggerhead Cay #152 2/2 $999K, Pine Cove #104 3/2 $1.495M.

3 price changes: Sanibel Moorings #822 2/2 now $449K (our listing), Mariner Pointe #733 2/2 now $519K, Loggerhead Cay #211 2/2 now $615K.

(Photos below are some of the community amenities at Sanibel Moorings. Click the tab above for more info on this listing.)

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1 new sale: Sanddollar #C101 2/2 listed at $870K.

2 closed sales: White Caps South #7 1/1 $520K, Sanibel Arms West #L4 2/2 $520K.

HOMES

8 new listings: 984 Greenwood Ct 3/2 half-duplex $462K, 376 Lake Murex Blvd 3/2 $598K, 1426 Sand Castle Rd 3/2 $675K, 1333 Par View Dr 3/2 $879K, 931 S Yachtsman Dr 4/2.5 $880K, 641 Lake Murex Cir 4/3 $975K, 598 Kinzie Island Ct 3/3.5 $1.895M, 1137 Golden Olive Ct 5/3.5 $2.695M.

5 price changes: 1746 Windward Way 3/2 now $580K, 3364 Twin Lakes Ln 3/2 now $750K, 4775 Rue Helene 4/3 now $845K, 5075 Joewood Dr 4/4.5 now $3.7497M, 4449 Waters Edge Ln 3/3 now $4.65M.

8 new sales: 2407 Shop Rd 3/1 listed at $349K; 5131 Sanibel-Captiva Rd 2/2 listed at $465K; 535 Birdsong Pl 3/2 listed at $499,999; 9475 Beverly Ln 3/2 listed at $529.5K; 1702 Sand Pebble Way 3/2.5 listed at $535K; 676 Emeril Ct 3/2 listed at $749K; 1317 Eagle Run Dr 4/3.5 listed at $1.195M; 4353 Gulf Pines Dr 3/2.5 listed at $1.479M.

6 closed sales: 748 Martha’s Ln 3/2 $500K, 1460 Court Pl 6/5.5 multi-family $610K, 1970 Wild Lime Dr 4/3 $690K, 775 Birdie View Pt 3/2.5 $900K, 5773 Sanibel-Captiva Rd 2/2 $950K, 819 Lindgren Blvd 4/3.5 $1.24M.

LOTS

1 new listing: 2441/2453 Los Colony Rd $179K.

1 price change: 497 Sea Oats Dr now $499K.

No new sales.

2 closed sales: 5749 Sanibel-Captiva Rd $600K, 3723 West Gulf Dr $2.6M.

Captiva

CONDOS

No new listings.

2 price changes: Tennis Villas #3227 1/1 now $279.9K, Bayside Villas #4202 1/2 now $305K.

No new sales.

2 closed sales: Beach Villas #2632 2/2 $675K, Beach Homes #20 3/3 $2.4M.

HOMES

No new listings.

1 price change: 11523 Wightman Ln 4/4 now $1.949M.

3 new sales: 57 Sandpiper Ct 2/2 listed at $885K, 17130 Captiva Dr 4/4 listed at $3.998M, 16665 Captiva Dr 2/2 listed at $4.8M.

1 closed sale: 16665 Captiva Dr 2/2 $4.55M.

LOTS

No new listings.

1 price change: 16298 Captiva Dr now $4.999M.

No new or closed sales.

Until Memorial Day weekend, Happy Friday!

Susan Andrews, aka SanibelSusan

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Sanibel Island Birds & Baby Alligators & More

Posted on June 8, 2012 by SanibelSusan

It has been a week of “off and on” overcast weather here on the islands. A few showers coming in from the gulf have provided some much-needed rain so our vegetation has greened up and again is in summer growth-mode. Seems we are ahead of the growing season for this time of the year too. My favorite Apple Blossom Cassia tree at Sanibel Moorings botanical gardens is usually spectacular during the first two weeks of June, but when I drove by on my way home from the office this week, as you can see from the above snapshot. The flowers have almost all gone by.

Here are a few news tidbits followed by the week’s report of the Sanibel & Captiva Islands Multiple Listing Service activity.

New Sanibel Photos

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Our long-time friends and now 16-year happy island owners, Doris and Hans from Switzerland were recently here vacationing. They often share their photos as they know we enjoy them and share them further here and in our other marketing. The slideshow above includes a few pictures of island wildlife taken by Hans during the last week of May.

Local Fishermen & Divers Will Love This One

As reported in local media this week, the historic Coast Guard vessel USS Mohawk will be making its home approximately 13 miles off the coast of Sanibel. After years of service to the Navy, patrolling the northern Atlantic and guarding America‘s eastern seaboard during World War II, the 77-year old vessel will soon make her final voyage. The former “A” class cutter is slated to become a veterans’ memorial reef, a recreation destination for scuba divers and fishermen.

Donax Street Cell Tower To Be Erected Early Next Year

Island cell phone users were happy to hear that Sanibel City Council was presented Tuesday with the final design for the Verizon cell tower that has been months – if not years – in the making. Council required that Verizon build the 149′ tower to resemble a flag pole, but since flags and their associated rigging can be noisy, Council also asked Verizon to come up with an internal lanyard system. Verizon’s rep told Council that they have never built anything like this (with an internal system). Council approved the design presented. The new tower is expected to be in place during the first quarter of 2013. Telecommunications coverage is needed on Sanibel’s east end and the Verizon structure will have space for two more carriers. (As an east-end homeowner, SanibelSusan is counting the days.)

Planning Ahead to July 4th

9:30 a.m. – 22nd Annual Independence Day Parade – from the corner of Island Inn Road/Tarpon Bay Road to the corner of Periwinkle Way/Casa Ybel Road. This year’s theme is “Sanibel Island is #1″, referring to its recent ranking as a vacation destination.

Noon – Optimist Club Road Rally With Theme “Rallying for Island Youth” – beginning at Timbers Restaurant parking lot. Registration is a $35 donation per vehicle. Points are awarded for elapsed time closest to a secret pre-established circuit time and distance, and for correct answers to a series of questions about clues along the rally route. Top rally finishers and the best decorated vehicle win prizes. Registration forms are available online at www.sancapoptimist.org. (For those wondering about this event, SanibelSusan tried it for the first time last year. It was a lot of fun. It helps to have a careful driver, a navigator to read the questions, and an observant crew. Island knowledge is not necessary.)

6 to 9 p.m. – Fireworks Night at The Dunes – with pool party, games for the kids, putting competition, food, & more.

9 p.m. – Fireworks – over San Carlos Bay from the end of Bailey Road.

Value of “For Sale” Signs

Occasionally a prospective seller will tell us that they do not want a “for sale” sign in their yard. We had it happen again, just last week, so it was a timely read when this article was posted this week on-line by a statistician with the National Association of Realtors®. It says:

“Recently a member asked us for research on the value of For Sale yard signs. Looking back on our buyer seller surveys, the value of yard signs has only increased over the last 20 years. In 1995, only 37% of respondents used yard signs in their home search. That figure rose steadily in the first decade of the 21st century to over 63% by 2008. And according to the 2011 NAR Profile of Home Buyers and Sellers, that value has continued to hold up, with yard signs still the third most commonly used information source in the home search process and 55% of buyers still relying on yard signs to help them find the house they ultimately purchase….”

Wetlands 101: A Property-Buyers Guide

Florida Realtors® posted an interesting article this week with info from the Florida Department of Environmental Protection. It says:

“If a dream property includes wetlands, buyers may have to work with the Florida Department of Environmental Protection (DEP) and, in some cases, the local water management district if they want to build or make changes. Wetlands are considered valuable natural resources that need extra protection by the DEP and are subject to special Florida laws. In many cases, federal and local laws could also apply. According to DEP, wetlands:
• Filter nutrients and other pollutants to help keep surface water clean for drinking, swimming and fishing.
• Serve as home, nursery, training grounds and food source for many species, including humans.
• Support commercial fishing, tourism and recreation.
• Intercept water from heavy rains that could flood upland areas.
• Protect property from erosion.
• Collect and filter water, allowing it to recharge drinking water supplies.

““When people think of wetlands, many envision swamps or marshes with standing water. While those are indeed two types of wetlands, there are many other types of wetlands that may not be as easily identified,” says Cherie Graves with DEP. “Many wetlands rarely have standing water.” Besides the obvious signs – like your shoes getting wet when you walk there – it’s a good idea to use an environmental professional who uses plants, soils and hydrology to identify wetlands. A wetland determination can help clients choose the best site on a property to build a home.

“For more information, property owners can contact their local DEP district office. Private environmental consultants also provide similar services. Once a property is determined to contain wetlands, owners may need a special permit to build a single-family home or other structure. For example, if plans include filling for a house pad, septic tank drain field (note: not on Sanibel where we have City sewer), driveway or lawn on wetlands, an owner needs an environmental resource permit from DEP. Removing tree stumps or dredging a ditch to drain the property in wetlands also requires a permit. However, if only a small portion of the property is wetland and an owner builds entirely on an upland portion of the property, he might not need an environmental resource permit at all.

“If potential homebuyers have questions, they can call DEP directly. Graves says staff will look at the property and suggest options. To make the permitting process flow as quickly as possible, property owners can schedule a pre-application meeting with DEP to discuss the project before applying. To find a local DEP office, visit their website.”

Sanibel & Captiva Multiple Listing Service Activity June 1-8:

Sanibel

CONDOS

No new listings.

7 price changes: Captains Walk #A3 1/1 now $163K, Tennisplace #C35 2/1.5 now $249K, White Caps #5 1/1 now $525K, Yacht Haven #2 3/2 now $819K, Compass Point #141 3/2 now $899K (our listing), Gulfside Place #117 2/2 now $950K.

3 new sales: Loggerhead Cay #152 2/2 listed for $690K, Seashells #37 2/2 listed for $274K (our listing), Shorewood #2C 3/2 listed for $889K.

6 closed sales: Sundial #F407 1/1 $275K, Sanibel Arms West #J1 2/2 $392.5K, Mariner Pointe #131 3/2 $495K, Sundial #Q402 2/2 $550K, Kings Crown #211 3/2 $575K, Nutmeg Village #108 2/2 $750K.

HOMES

2 new listings: 1216 Par View Dr 3/2 $699K; 494 Surf Sound Ct 5/2.5 $899,555.

1 price change: 2294 Wulfert Rd 4/4 now $998K.

5 new sales: 1621 Sand Castle Rd 3/2 half-duplex listed for $389K, 1574 Sand Castle Rd 3/2 listed for $549K, 760 Birdie View Pt 4/3.5 listed for $849K (short sale), 1290 Bay Dr 3/2 listed for $1.595M, 1069 Bird Ln 4/3.5 listed for $2.75M.

8 closed sales: 458 Lake Murex Cir 3/2 $380K; 1433 Jamaica Dr 5/4 duplex $400K; 9003 Mockingbird 5/4 $480K (short sale); 480 Peachtree Rd 3/3 $502.5K; 4210 Old Banyan Way 3/2 $511,250; 1208 Harbour Cottage Ct 3/3 half-duplex $600K, 1308 Tahiti Dr 3/3 $650K, 5063 Joewood Dr 4/5.5 $3.05M.

LOTS

1 new listings: 925 Whelk Dr $875K.

No price changes, new or closed sales.

Captiva

CONDOS
No new listings.
3 price changes: Bayside Villas: #4106 1/2 now $295K, #5124 1/2 now $309K, #4322 3/3 now $507K (short sale).
No new sales.
1 closed sale: Captiva Shores #5D 2/2 $725K.

HOMES
No new listings.
2 price changes: 11516 Andy Rosse Ln 6/6 now $1.999M, 11530 Paige Ct 4/4.5 now $3.495M.
1 new sale: with contingencies: 16849 Captiva Dr listed for $2.195M.
1 closed sale : 16585 Captiva Dr 5/4/2 $2.025M (short sale).

LOTS
Nothing to report.

This representation is based in whole or in part on data supplied by the Sanibel & Captiva Islands Association of Realtors or its Multiple Listing Service. Neither the association nor its MLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or its MLS may not reflect all real estate activity in the market. The information provided represents the general real estate activity in the community and does not imply that SanibelSusan Realty Associates is participating or participated in these transactions. If your property currently is listed with another broker, this is not intended as a solicitation of that listing.

Yippee…It’s Already Like Summer on Sanibel & Captiva Islands

Posted on June 1, 2012 by SanibelSusan

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Here are a few news items from SanibelSusan, followed by the activity in the Sanibel & Captiva Islands Multiple Listing System since last Friday. You will notice from the tidbits below that it has a been a big week (or at least “big” for the island) for animal sightings. So thanks to our pal and photographer, Jim Anderson, JMA Photography, above are some of the animals that he has photographed on the islands. My favorite is the yellow-crowned night heron with baby. (Isn’t it amazing how such ugly chicks can turn into such beautiful birds?) Giant grasshoppers, like the one Jim filmed, are hopping in my garden now too. But another signal that spring/summer weather is here!

Memorial Holiday Week

The islands were fairly busy this week, but mostly with families and visitors enjoying the great outdoors and our wonderful “like-summer” weather. We had a few listings shown, though not as many as we hoped. One bit of good news was a “heads up” call yesterday that an offer is on its way for one of our listings. This was an off-week for Realtor® Caravan; the next one will be Thursday coming.

“The SanibelScoop with Captiva Chatter”

The office team again this week has been updating our database in preparation for our first newsletter mailing in several months. We try to stay green, particularly by urging folks to read this blog, but many continue to ask us about them and like to hold that piece of paper, so we occasionally will prepare and bulk mail a “The Sanibel Scoop with Captiva Chatter”. We do not want to miss an opportunity to get our listings sold, so a June issue soon will be mailed to all island property owners as well as our prospective-buyer contacts. It goes to the printer today! All listings with photos will be included. If you are not on our mailing list and would like to receive this mailing, please give me a call at 888-666-0603 or 472-HOME (4663) or send an e-mail to Susan@SanibelSusan.com.

Education Boardwalk Update

I received the following news this week from the Ding Darling Wildlife Society (DDWS):

“The J.N. “Ding” Darling National Wildlife Refuge reports steady progress on the new Children’s Education Boardwalk project between the Sanibel School and Indigo Trail within the Refuge. The City of Sanibel has approved the site, and architect Amy Nowacki is working on the design. Refuge rangers met with teams of teachers to solicit their ideas for the boardwalk. One suggested that an observation tower be added to the boardwalk, and the Refuge is currently considering that option. DDWS is planning on reprising fundraising efforts to pay for the addition. Other teachers requested easy access to water to facilitate taking water samples…The boardwalk will cross a brackish wetland currently inaccessible to the public en route to the refuge’s Indigo Trail. It will give school children and visitors up-close views of alligators, wading birds, and an opportunity to learn more about the importance of water in our lives. The walkway will meander through mangroves and expand into an in-the-round venue to accommodate up to 25 students and other groups….Plans to break ground are estimated to be September 1, 2012.”

Rare Smalltooth Sawfish

In other news from the Refuge, a rare smalltooth sawfish was seen at “Ding” on Tuesday in Tarpon Bay. The little 2-foot pup was probably born only a few weeks ago, which is good news for this critically endangered fish.

Sanibel Bear

As a Facebook follower, it was of interest mid-week to read about several sightings of the Sanibel bear. It was first spotted on the island last July, but recently has wandered away from the Refuge and seen walking down Dixie Beach Blvd near Sanibel Isles, Water Shadows, and The Dunes. News crews even picked up it, with announcements yesterday and today on the local TV stations. As a protective measure, Sanibel’s finest should be advised of sightings. Islanders are reminded to keep their trash “in” until the morning of pick-up.

Florida Perceived as Having a Competitive Business Tax

This article was posted Wednesday in the Orlando Business Journal on-line:

“A survey of corporate leaders gives high marks to Florida’s business tax structure. The survey run by a New York based tax consulting firm, Alvarez & Marsal, polled a cross-section of chief financial officers across the country and found that Florida is one of the top three states perceived as offering a favorable business tax policy, reported the Associated Press. Florida has one of the nation’s lowest corporate income tax rates at 5.5%. However, owing to exemptions, some businesses pay much less. They have the full backing of Gov. Rick Scott who has pushed to end corporate tax over time and has allowed tax exemptions to increase in number, the AP reported.”

Federal Flood Insurance Program Gets 60-Day Extension

An AP article posted yesterday says:

“Congress has given itself two more months to come up with long-term solutions for the debt-burdened federal program that provides insurance for homes and businesses in areas subject to flooding. A voice vote in the House Wednesday extended the life of the National Flood Insurance Program for 60 days, assuring that people in flood-risk areas will continue to have access to the flood insurance they need to close on mortgages or obtain refinancing. The program was slated to expire today.

“The last full-scale reauthorization of the NFIP, a wing of the Federal Emergency Management Agency, occurred in 2004. Since 2008, the insurance provider has stayed alive through a series of 16 short-term extensions while lawmakers debate how to restore its fiscal soundness. The NFIP was largely self-financing until it was overwhelmed by claims from hurricanes Katrina and Rita in 2005. It now owes nearly $18 billion to the Treasury.

“Rep. Judy Biggert, R-Ill., chair of the House Financial Services subcommittee on insurance, said she hoped Wednesday’s 17th stopgap measure would be the last, “because this program is too important to let lapse, and too in-debt to continue without reform.” She said Senate leaders had given public and private assurances that they would vote on a long-term extension in June.

“The House last year passed a five-year extension that allowed for increased premiums and ended some subsidies, but the Senate has been unable to get a companion bill to the floor for a vote. The Senate last week passed the 60-day extension after adding a provision by Sen. Tom Coburn, R-Okla., that would gradually eliminate premium rate subsidies for people buying second homes and vacation homes in flood-prone areas. Coburn said that could save the program $2.7 billion over 10 years.

“The NFIP was created in 1969, partly to fill the gap left by the unwillingness of private insurers to provide flood insurance. It now covers some 5.6 million policyholders in 21,000 flood-prone communities.” (including Sanibel & Captiva)

Sanibel & Captiva Multiple Listing Service Activity May 25 – June 1:

Sanibel

CONDOS

2 new listings: Blind Pass #A204 2/2 $369.5K, Bayview Village #2A 3/3 $699.9K.

3 price changes: Seashells #6 2/2 $335K, Sanddollar #B104 2/2 now $935K, Cyprina Beach #1 2/2.5 $1.295M.

3 new sales: Sanibel Moorings #1412 1/1 listed for $269,962; Seashells #26 2/2 listed for $274K, Sanctuary Golf Villages I #3-2 3/3 listed for $450K.

5 closed sales: Sanibel Arms #D2 1/1 $224K, Mariner Pointe #1043 2/2 $290K (our listing), Sandpiper Beach #205 2/2 $520K, Sand Pointe #132 2/2 $570K, Tarpon Beach #101 2/2 $600K.

HOMES

2 new listings: 701 Nerita St 3/2 $519K, 9007 Mockingbird Dr 3/3 $1.2M.

3 price changes: 1274 Par View Dr 3/3 now $644K, 760 Birdie View Pt 4/3.5 now $849K (short sale), 2367 Wulfert Rd 4/3.5 now $1.094M.

1 new sale: 1663 Bunting Ln 3/2 listed for $344K (short sale).

3 closed sales: 3940 Coquina Dr 3/2 $450K, 1429 Jamaica Dr 4/3 $450K, 1570 Sand Castle Rd 4/3.5 $876.2K (short sale).

LOTS

1 new listing: 1310 Par View Dr $369K.

2 price changes: 545 Rabbit Rd now $179K (our listing), 837 Limpet Dr now $899K (our listing).

No new or closed sales.

Captiva

CONDOS

1 new listing: Lands End Village #1610 3/3 $1.925M.

1 new sale: Lands End Village #1664 3/3 listed for $1,597,900.

1 closed sale: Beach Villas #2517 1/1 $415K.

HOMES

No new listings.

1 price change: 16645 Captiva Dr 8/9/2 now $4.199M.

No price changes or new sales.

1 closed sale: 11521 Wightman Ln 4/3 $1.45M.

LOTS

Nothing to report.

Ready for Memorial Day Weekend on Sanibel & Captiva Islands

Posted on May 25, 2012 by SanibelSusan

Realtor® Fundraiser

Last night was the Sanibel & Captiva Islands Association of Realtors® annual fundraising event which for years was called “The Over-the-Hump” Party”. This year the name has been changed since the old name reflects that “season” is over, and we prefer to think that our business continues right through the year. The event includes a golf tournament plus silent and live auctions, all to benefit RPAC, the Realtors® Political Action Committee.

Before coming to the islands, as a long-time resident of Northern Virginia and daily visitor to the nation’s capital, I was not a fan of PAC’s. It was during one of my first years on Sanibel as a Realtor®, more than 20 years ago, that I learned that without the support of RPAC funds many important homeownership issues that protect consumers would not be what they are today. Since 1969, RPAC has successfully help advance the interests of property owners, including many issues here on Sanibel, like beach renourishment, build-back and redevelopment. Now, I am a true believer and one of the islands biggest RPAC supporters.

Dave and Lisa contributed to the event through the golf scramble, while my donation of my famous homemade carrot cake plus six months of SanibelSusan desserts was purchased for the outrageous sum of $550. We still await the final tally, but once again the Sanibel & Captiva Islands Association of Realtors® hopes to secure the top state fundraising position for a small board. We proudly have held that record for several years.

‘Tween Waters Inn Joins National Register of Historic Places

‘Tween Waters Inn on Captiva Island commemorated its historic designation at the resort last Sunday. The resort was officially listed in the National Register of Historic Places on December 15, 2011. The resort’s unique, rich history and dedication to preserving Florida’s cultural resources helped it earn this designation. ‘Tween Waters Inn was established by F. Bowman and Grace B. Price in 1931. The inn began with a single building and expanded over the next 30 years with more cottages and other buildings. They built the remote tourist facility with its small cottages and restaurant into a social center and favorite winter resort of wealthy northerners.

Other historic landmarks within the resort include the Old Captiva House – the fine dining restaurant first built as a one-room school for children of Captiva’s pioneer settlers. Known to have inspired artists, authors and countless others with its beach-to-bay exposure and award-winning sunsets, the resort features modern facilities, plus historically preserved, but luxurious and contemporary cottages, some named after its famous guests.

Well-known guest J.N. “Ding” Darling, conservationist and renowned editorial cartoonist for which he won two Pulitzer Prizes in 1924 and 1943, drew cartoons and wrote a book at ‘Tween Waters Inn. Some of his work lines the walls at the Old Captiva House today. Anne Morrow Lindbergh, wife of famed aviator Charles Lindbergh, also drew inspiration for her bestselling book “Gift from the Sea” (1955) during her time on Captiva.

The SanibelSusan Team congratulate our friend, Tony Lapi, President of ‘Tween Waters Inn and Chairman of VISIT Florida (and his wife, our Realtor® colleague, Angie) for gaining this historic designation. The Florida state historical marker is at the middle entrance to the resort, in front of the Old Captiva House restaurant.

County to Pay for Blind Pass Dredging Project

Posted in the “Island Sun” today, an article says “The Lee County Board of Commissioners unanimously approved the maintenance dredging of Blind Pass at their May 1 meeting…. Lee County is funding the entire project. Equipment will begin to appear around the Blind Pass area by the end of this week and county officials have said the contractor will begin pumping sand the first week in June. Work should be completed by the end of August.” Good news for those west-end property owners!

Florida Realtors® President in Spain With the Governor

As posted in “The Real Deal” South Florida Real Estate News on Monday:

“Florida Realtors® President Summer Greene is in Spain this week as part of a business mission by Governor Rick Scott. “It is vital to our future to encourage business investment and diversification,” said Greene, the regional manager of Better Homes and Gardens Real Estate Florida 1st in Fort Lauderdale. “Development missions like this one offer a prime opportunity to demonstrate the benefits of establishing a business — and home — in Florida.” Scott is leading a 60-member delegation of Florida business executives for a five-day trip across Spain.”

Since I am also Summer’s Facebook friend, I have enjoyed her postings from abroad. On Tuesday, she said: “This is an amazing experience. Interesting to see Spain now is where we were a few years ago. They just announced the takeover and bailout of their biggest bank – Bankia. Just met with some industry folks talking about how long it took…(and is still taking) to get banks on board with short sales etc. By the way, they have 25% unemployment – although Madrid does not seem as affected. Also, almost 400 Spanish companies have operations in Florida! Did you know I-595 is being built out by a Spanish company?”

NAR President Kicks-off 5-Year Flood Insurance Coalition Push

NAR’s e-Newsletter update this week posted the following: “As part of an historic “Flood the Hill” coalition of real estate, construction, financial services, insurance, consumer, taxpayer and environmental groups, the National Association of Realtors® stepped up pressure on Congress to pass the 5-year Flood Insurance Reauthorization Bill. On May 9, NAR President (& our friend from Miami) Moe Veissi testified before Congress. That same day President Veissi co-wrote an Op-Ed which ran in Capitol Hill’s major publication Roll Call. NAR simultaneously ran ads, co-sponsored by nearly 20 coalition partners, in all the Hill newspapers. The Coalition also recently wrote Senate leaders calling on them to bring up the bill for floor consideration.”

Flood Insurance Moves in Congress

An update to the above posting, was yesterday on Florida Realtors®, as posted in the Wall Street Journal:

“The good news: Senate Majority Leader Harry Reid (D., Nev.) said his chamber would consider a five-year extension of the National Flood Insurance Program (NFIP) similar to one already approved by the U.S. House.

“The bad news: It won’t happen by the program’s current deadline, May 31, 2012. Reid has suggested Congress approve another short-term extension of 60 days to give lawmakers time to fully consider the longer-term solution.

“The long-term package seems to have bipartisan support and would include terms to make it more financially stable, such as gradually increasing flood insurance premiums. “It is “critical that we do something on flood insurance,” Reid said. “We need to get something done on a more permanent basis.””

Amen to that. Many Realtors®, including SanibelSusan, are in favor of a broader program than just flood insurance. What about disaster insurance? And what about coverage in states that had floods last year that are not in typical flood zones, like Vermont and North Dakota? A positive move for both the consumer and the provider would be to make the flood insurance pool larger, perhaps by making the coverage more expansive in both type of disaster and coverage area.

Citizens’ Hurricane Mitigation Inspections Pick Up

As follow-up to my posting earlier this month about wind insurance, Florida Realtors® posted this update on-line Monday:

“Florida’s state-backed property insurer, Citizens Property Insurance Corp., is taking a second look at wind mitigation incentives put in place a decade ago, part of its effort to raise premiums to match its risk. For many of its customers, that means higher rates.

“Citizens plans to take a look at 209,000 residential policies by the end of the year to see if the homeowners’ current wind mitigation credits are deserved. As of April 30, Citizens inspectors had completed 180,503 residential inspections, and almost 71% of homes saw a premium increase because they didn’t have the necessary hurricane mitigation measures in place.

“By nixing the discounts associated with mitigation efforts, Citizens has increased its premium income so far by $107 million. Individual homeowners’ without the claimed mitigation elements saw their premiums jump an average $600 per year, or 23%. In a few cases – 7.5% – inspectors discovered that a homeowner had unclaimed hurricane mitigation components. Those homeowners received a credit, reducing Citizens income by about $4.4 million.

“The hurricane mitigation incentives that net a discount include things such as tie downs, shutters and other upgrades. They were offered starting in 2002 in an attempt to lower risk for the state-backed pool, which now handles nearly 1.5 million policies. The wind mitigation program has come under fire from industry groups and the Florida Office of Insurance Regulation, who have said the program eroded the company’s premium base while not significantly reducing its exposure, especially after credits were dramatically increased in 2007.

“Private insurers have also given mitigation credits to homeowners, but a 2010 study by the Department of Financial Services found that, despite good intentions, the programs cost companies money in lost premiums while only modestly decreasing potential losses.

“Last year, lawmakers passed and Gov. Rick Scott signed SB 408, which struck some language relating to mitigation credits and gave insurers more flexibility in establishing rates and applying discounts. As a result, Citizens officials ordered re-inspections of homes that claim more than $650 in credits.

“Robin Westcott, Florida Insurance Consumer Advocate, said she understands Citizens’ objective to get accurate information on proper wind mitigation credits, but she’s worried homeowners may not always be ready with proper documentation on their mitigation efforts and may unnecessarily lose out on benefits. She said Citizens could do a better job of letting homeowners know what inspectors are looking for. “In some cases, you are looking at pretty hefty increases,” Westcott said. “That is really a big part of our concern.””

Florida’s Housing Market Continues Positive Signs in April 2012

More good news posted this week by Florida Realtors®: “Florida’s housing market had increased pending sales and higher median prices in April, along with a greatly reduced inventory of homes and condos for sale, according to Florida Realtors® latest housing data.

“Here in Florida, we’re seeing some strong numbers that show positive momentum for the state’s housing recovery and our economy,” said 2012 Florida Realtors® President Summer Greene. “Home prices continue to rise in many markets. Inventory is down to extremely low levels while pending sales are on the rise – almost 38% for single-family homes and 25% for townhouses and condos. It is not unusual to see multiple offers. Now the challenge will be for appraisals to catch up. Overall, we are very happy to see the market move in this direction and expect this trend to continue.”

“Pending sales refer to contracts that are signed but not yet completed or closed; closed sales typically occur 30 to 90 days after sales contracts are written.

“The statewide median sales price for single-family existing homes in April was $144,350, up 10.2% from the year-ago figure, according to data from Florida Realtors Industry Data and Analysis department, and vendor partner 10K Research and Marketing. The statewide median for townhome-condo properties was $108,000, up 16.1% over April 2011.

“The national median sales price for existing single-family homes in March 2012 was $163,600, up 1.9% from the previous year, according to the National Association of Realtors® (NAR). In California, the statewide median sales price for single-family existing homes in March was $291,080; in Massachusetts, it was $267,500; in Maryland, it was $225,601; and in New York, it was $215,000.

“The median is the midpoint; half the homes sold for more, half for less. Housing industry analysts note that sales of foreclosures and other distressed properties continue to downwardly distort the median price because they generally sell at a discount relative to traditional homes.

“Statewide sales of existing single-family homes totaled 17,544 in April, down slightly, 0.7%, compared to the year-ago figure. Looking at Florida’s year-to-year comparison for sales of townhomes/condos, a total of 9,765 units sold statewide last month, down 4.9% from those sold in April 2011. NAR reported the national median existing condo price in March 2012 was $165,200.
“In April, there was a 5.8-month supply of single-family homes in inventory and a 5.7-month supply for townhomes/condos, according to Florida Realtors.

““The housing numbers for the state of Florida continue to signal recovery,” said Florida Realtors Chief Economist Dr. John Tuccillo. “Sales in 2012 are above where they were in 2011, a harbinger of a third straight year of improvement. More importantly, pending sales are up dramatically, and inventory is still falling. Financing constraints still mean that a significant percentage of these will not lead to closed sales, but with the numbers up, we are confident that closed sales will continue to rise.

““The increase in both median and average prices suggests that investors are having a strong impact on the market, soaking up lower priced inventory and causing buyers to move up the price ladder.”
“The interest rate for a 30-year fixed-rate mortgage averaged 3.91% in April 2012, down from the 4.84% average during the same month a year earlier, according to Freddie Mac.

“To see the full statewide housing activity report, go to Florida Realtors website at http://www.floridarealtors.org, and click on the Research page; then look under Latest Housing Data, Statewide Residential Activity and get the April report. Or go to Florida Realtors Media Center at http://media.floridarealtors.org/ and download the April 2012 data report PDF under Market Data at: http://media.floridarealtors.org/market-data.”

Sanibel & Captiva Multiple Listing Service Activity May 18-25:

Sanibel

CONDOS

1 new listing: Sundial #S404 3/2 $755K.

5 price changes: Colonnades #9 1/1 now $147.9K; Colonnades #12 1/1 now $149,995; Sundial #C206 1/1 now $297K; Sea Pines #D 3/3 now $449K; Heron at The Sanctuary #3B 2/2.5 now $599K.

5 new sales: Blind Pass #D205 2/2 listed for $263.4K (short sale), Tennisplace #C31 2/1.5 listed for $279K, Sandpebble #4E 2/2 listed for $369K, Cyprina Beach #9 3/2.5 listed for $599K, Oceans Reach #2D2 2/2 listed for $749K.

4 closed sales: Tennisplace #C36 2/1 $250K, Lighthouse Point #332 2/2 $440K (our listing), Sandalfoot #1C2 2/2 $575K, Sundial #T404 2/2 $589K.

HOMES

4 new listings: 1000 Greenwood Ct 3/2.5 half-duplex $347.5K, 2991 Singing Wind 3/2 $398.9K, 1787 Serenity Ln 3/2 $595K, 450 Leather Fern Pl 3/2 $675K.

5 price changes: 2130 Sunset Cir 3/2 now $519K, 585 Lake Murex Cir 3/2 now $575K, 1339 Par View Dr 3/2 now $655.5K, 1233 Middle Gulf Dr 3/2 now $699.9K, 1950 Woodring Rd 4/3.5 now $2.895M.

3 new sales: 1415 Sandpiper Cir 2/2 half-duplex listed for $329K, 955 S Yachtsman Dr 3/2 listed for $559K, 4791 Rue Helene 3/2 listed for $599,995.

1 closed sale: 1731 Venus Dr 3/3 $930K.

LOTS

No new listings or price changes.

1 new sale: 637 Sea Oats Dr listed for $299K.

No closed sales.

Captiva

CONDOS

No new listings.

1 price change: Bayside Villas #5308 3/3 now $579K.

No new sales.

1 closed sale: Beach Homes #13 3/3 $2.285M.

HOMES

No new listings.

4 price changes: 11461 Dickey Ln 3/2 now $1.199M, 16849 Captiva Dr 7/7 now $2.195M, 11530 Paige Ct 4/4.5 now $3.495M, 16251 Captiva Dr 4/5.5 now $3.599M.

2 new sales: 11523 Wightman Ln 4/4 listed for $1.565M, 16310 Captiva Dr 4/5.5 listed for $4.5M.

No closed sales.

LOTS

Nothing to report.

HAPPY MEMORIAL DAY!

Spring Turns Quickly to Summer on Sanibel & Captiva Islands

Posted on May 18, 2012 by SanibelSusan

Island Weather – We had a few much-needed showers here this week and spring is in full bloom. Here are some photos taken today by teammate Dave when he was out on his Friday rounds.

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Realtor Rally to Protect the American Dream

Yesterday as part of the National Association of Realtors Mid-Year Business Meetings in Washington DC, more than 13,500 Realtors® from across the country gathered on the steps of Capitol Hill to tell members of Congress that Home Ownership Matters – to people, to communities, and to America. Another nearly 14,000 attended the Rally virtually, through the internet. This gathering is particularly important now, because despite the heated rhetoric of an election year, Realtors® remain focused on home ownership, housing and real estate issues. We know that the challenges our country faces are not going away after November. We believe that everyone should have the opportunity to pursue the American dream of home ownership, and we will fight against obstacles that make it more difficult for people to buy, own and invest in real estate. Thanks to our Sanibel friend and National Association President this year, Moe Veissi from Miami, there was a huge group of attendees from Florida. From just our immediate area in Southwest Florida, last count showed 232 members at the Rally. I am proud to be one of them.

Vacation Homes Beckon

A client forwarded me an article by Joe Light from the May 4 Weekend Investor section of the “Wall Street Journal”. Good info there for those thinking of buying a second home. It said in part:

“If you’re thinking of buying a second home in the next five years, this might be your best opportunity…. Vacation-home sales are perking up as low prices pull more buyers off the fence. Yet many are looking for properties close to home instead of in far-off destinations….Near-record-low mortgage rates, bargain prices and dwindling home inventories are bringing some once-untouchable markets within reach for the first time in a decade, say housing-market experts….Sales of vacation properties fell 56% between 2006 and 2010, but climbed 7% in 2011 to 502,000, according to the most recent survey by the National Association of Realtors (NAR). Yet prices remain soft; according to NAR, the median price on vacation homes dropped more than 19% in 2011…Miami, for example, which already has seen prices of all homes drop 54% since 2007, according to Moody’s Analytics, is expected to lose about 0.1% annually over the next five years. Meanwhile, Napa, Calif., whose prices have also been slashed in half, could see prices rise nearly 10% a year. Realtors say they are even seeing such dichotomies within markets, with sales in more-desirable locations starting to perk up. In New York’s Hamptons, for example, homes positioned north of the Montauk Highway are languishing on the market for months, while well-maintained homes south of the highway, which are closer to the ocean, are sometimes getting multiple offers within days.”

“Factors to consider when deciding whether or not to buy a vacation home:

“The first: momentum. If you considered an investment in the stock market, looking at how prices moved over the past year would be a poor way to estimate future performance. On the other hand, research by Yale University Professor Robert Shiller, widely credited with predicting both the stock market crash of 2000 and the housing bust, has shown that momentum in home prices has staying power. Then again, prices have been dropping in many markets for five years already, and most experts believe the steepest drops already have taken place. And some stronger vacation-home markets, such as Burlington, Vt. (up 1.3% in the past year), have momentum on their side.

“A second point to consider: financing. Even though rates are low, lenders’ standards for making loans are tight. And real-estate agents say deals are falling apart even after buyers obtain initial mortgage commitments. That means buyers who can offer all cash have a leg up over those who make offers contingent on financing. Buyers who don’t want to tie up that cash forever might consider purchasing the house with cash and then taking out a mortgage later. All-cash sales dominate in some of the most beaten-down markets….” To read the entire article, here’s a link.

What Should a Seller Know

A recent case discussed in the May issue of Florida Realtor® expands on what a seller should reasonably know about material defects. Most Realtors® know that if they are aware of a defect that materially impacts the value of a listed property they must disclose that information to a prospective buyer. Examples of these defects include defective drywall, pest problems, leaky roofs, etc.

“In the 1985 case of Johnson v. Davis, the Florida Supreme Court ruled that a home seller who knows of facts that materially affect the property’s value, that aren’t readily observable and aren’t known to a buyer, has a duty to disclose them to the buyer. This is the law in Florida today.

“A nondisclosure claim under Johnson v. Davis has four elements: the seller of a home must know of a defect in the property, the defect must materially affect the property’s value, the defect must not readily observable by the buyer and must be unknown to the buyer, and the buyer must establish that the seller failed to disclose the defect to the buyer.

“Recently in Jensen v. Bailey, the 2nd District Court of Appeal rendered an opinion that focused on the first element of liability under Johnson v. Davis. Specifically, the court considered whether anything less than actual knowledge is sufficient to satisfy the first element.

“The facts of the case were as follows: The seller had done substantial remodeling. After closing, the buyer discovered that permits were required for the work but were never obtained, the work hadn’t been properly done and it didn’t conform to code. Reconstruction in conformity with newer, more stringent codes would be required.

“The trial court found no evidence that the seller knew that the contractor had failed to obtain permits or that the work hadn’t been property done, but it found that the seller was liable to the buyer based on a “should-have-known” standard. However, the appellate court disagreed, reversed the trial court’s final judgment, and held that in order to hold a seller liable under Johnson v. Davis, the buyer must prove that the seller actually knew of an undisclosed material defect.”

Sanibel & Captiva MLS Activity May 11-18:

Sanibel
CONDOS
1 new listing: Pelicans Roost #206 2/2 $849K.
11 price changes: Sundial #G207 1/1 now $249.9K, Tennisplace #E33 2/1.5 now $256K, Blind Pass #D205 2/2 now $263.4K, Sundial #D412 1/1 now $315K, Sea Pines #D 3/3 now $459K, Cottage Colony West #101 1/1 now $515K, Heron at The Sanctuary III #1B 3/2.5 now $599K, Pointe Santo #E32 2/2 now $789K, Sundial #E305 2/2 now $835K, Pointe Santo #C3 3/2 now $899K, Ferry Landing #1 2/2 now $1.195M.
5 new sales: Sundial #D305 1/1 listed for $269K, Lighthouse Point #217 3/2 listed for $339K, Signal Inn #2 1/1 listed for $379K, Sandpiper Beach #205 2/2 listed for $599K, Junonia #202 2/2 $799K.
8 closed sales: Colonnades #C55 1/1 $150K, Sanibel Shores #E 2/2 $259K, Sundial #F408 1/1 $277.5K, Sanibel Arms #C1 2/2 $398K, Sandalfoot #4A3 2/2 $500K, Cottage Colony West #138 1/1 $500K, Tarpon Beach #308 2/2 $615K, Tarpon Beach #301 2/2 $715K.

HOMES
3 new listings: 1052 Fish Crow Rd 3/2 $630K, 1206 Par View Dr 3/2 $759.9K, 2548/2550 Wulfert Rd 3/3.5 townhouse $799K.
4 price changes: 1647 Sand Castle Rd 3/2.5 half-duplex now $325K, 2027 Sunrise Cir 4/4 duplex now $516K, 561 Lake Murex Cir 3/2.5 now $629K, 9470 Balsa Ct 3/2 now $725K.
3 new sales: 1649 Sand Castle Rd 3/2.5 listed for $415K, 335 East Gulf Dr 3/2 listed for $725K, 5864 Pine Tree Dr 3/3.5 listed for $829K.
2 closed sales: 6101 Castaways Ln 4/2 $540K (short sale), 4809 Tradewinds Dr 3/3.5 $1.3M.

LOTS
No new listings or price changes.
1 new sale: 1114 Seagrape Ln listed for $475K.
1 closed sale: 1120 Olga Ave $250K (our listing & sale).

Captiva
CONDOS
No new listings, price changes, or new sales.
2 closed sales: Beach Villas #2516 1/1 $410K, Beach Homes #32 $1.665M.

HOMES
1 new listing: 14971 Binder Dr 3/3 $2.995M.
2 price changes: 11521 Laika Ln 3/3 now $1.375M, 11516 Andy Rosse Ln 6/6 now $2.175M.
No new or closed sales.

LOTS
Nothing to report.

Families Love Sanibel & Captiva Islands

Posted on May 11, 2012 by SanibelSusan

Sanibel weather this week has been terrific, though nearing summertime temperatures. All of a sudden, we have seen a huge drop-off in traffic and phone calls. Other offices report the same and our friends in the vacation-rental business said that rental inquires have dropped off to almost nothing this week. It is pretty typical for this time of the year with school years finishing up, graduations etc. Activity should pick up some over the Memorial Day weekend and then more as summer vacations begin.

There was light turn-out at our first off-season biweekly Realtor® Caravan Meeting yesterday. Only a handful of new listings were “open” for viewing, mostly properties that could not be viewed during high-season because of heavy rentals.

Here are a few island news items, followed by a report of the Sanibel and Captiva Islands Multiple Listing Service activity over the past seven days. To especially honor all the Moms, included are some fun postings for families.

Happy Mothers’ Day weekend to all!

Family-Friendly Destination

Below is an excerpt from an article posted Monday on a Canadian site called “Just the Facts Kid”. (www.justthefactskid.com/) It says:

“Parents would be hard-pressed to find a more family-friendly destination than Sanibel Island, Florida.

“It’s convenient…Located on the Gulf Coast side of Florida. Sanibel Island is just 45 minutes from the Fort Myers airport.

“It’s the perfect combination of nature and fun…Sanibel Island is just 12 miles long and five miles wide. More than 60% of the island is protected wildlife reserve and its white sand beaches go on for miles and miles. There is little to do besides swim, relax, play in the sand and hunt for seashells. (Sanibel boasts over 250 varieties!)

“It will make you feel like you’re in the islands…with all the American conveniences just a three-mile causeway ride away.”

Summer Happenings for the Kiddos

Every year it seems that there are more and more offerings on Sanibel and Captiva in the off-season for children. Here is a summary of some of the camps and special summer programs coming up:

BIG ARTS Summer Arts Camp – BIG ARTS is now accepting camper enrolments for its weekly “creative” sessions beginning in June. Camp runs Monday through Friday from 9 a.m. to 3 p.m. beginning June 4 and running through July 27. Activities include acrylic painting, ceramics, dance, glass fusing, photography, puppetry, improvisational acting, music appreciation, film editing, folk art, and general arts and crafts. Middle and high school students have the option to attend camp solely as a student or select to participate in the fine arts apprentice program, spending half day as a student and the other half assisting instructors of K-5 classes. Tuition assistance is available too. For more info, stop by BIG ARTS at 900 Dunlop Road, call 395-0900, email info@BIGARTS.org, or log on at www.BIGARTS.org.

“Ding” Darling Brings Back Family Programs – June 4 through August 15 the JN “Ding” Darling National Wildlife Refuge on Sanibel has free, fun programs designed especially for families. With support from the “Ding” Darling Wildlife Society – Friends of the Refuge (DDWS), the refuge is offering five free education programs this year. No pre-registration is necessary:

Natural Wonders, held every Wednesday, Friday, and Saturday at 1 p.m. – What makes a bird a bird? Why is a manatee called a “sea cow”? Is it a crocodile or alligator? Find the answers to these questions and more by joining a naturalist in exploring the refuge’s unique eco-system. Geared for adults and children, this 30-minute program meets in the Education Center Lab.
Indigo Trail Hike, held every Tuesday at 10 a.m. – Join refuge naturalists as they lead a one-hour tour identifying and discussing the eco-system’s plants, animals, birds, and reptiles. Fun for adults and children alike. Bring water and bug spray. Meet at the flagpole in front of the Education Center.
Refuge Caravan Tour, held every Wednesday and Saturday at 9:30 a.m. Ride along on a car caravan tour of the refuge’s Wildlife Drive. This 90-minute tour highlights the natural wonders of the unique mangrove ecosystem and the wildlife that call it home. Meet at the flagpole in front of the Education Center.
Family Beach Walk, held every Thursday at 9 a.m. Back by popular demand and in partnership with the Bailey-Matthews Shell Museum, the program convenes at Gulfside City Park for a one-hour exploration of the refuge’s gulf-front Perry Tract. (City parking fees apply.)

For more info on the refuge summer programs, call 472-1100 or visit www.dingdarlingsociety.org.

Summer Day Camp at Sanibel Recreation Center – Summer day camp at the City of Sanibel Recreation Center begins on May 29. This year, the camp has 10 one-week sessions from 8 a.m. to 5 p.m. daily. Children who are entering first through eighth grade may attend one week or more. More info at www.mysanibel.com/Departments/City-Manager-s-Office/News/Sign-Up-Now-For-Sanibel-Recreation-Department-Youth-Summer-Day-Camp.

Junior Sailing Camp at Captiva Island Yacht Club – Registration is now open for the 3rd season of the Junior Sailing Camp to be held at the Captiva Yacht Club. The program is open to children ages 8 to 18 of all experience levels. At the end of each 2-week session students will be able to sail a boat single-handedly, be certified in powerboat safety, if they choose, and properly handle a kayak. The 1st session is from July 9 to 20 and will be geared toward the beginning sailor. The 2nd session is July 16 to 27 and will be geared toward sailors who have had an introduction to sailing and want to learn more about racing and tuning the boat for speed. Each Friday, the program will have “Fun Fridays” including paddle boarding, kayaking, and a sailing outing. At the conclusion of each session, students will demonstrate their new skills at a Parents’ and Friends’ Day Luncheon held at the Club. Get more info, including qualifications, at 472-9627 or www.CaptivaIYC.net.

Florida in Top Five for Home Price Appreciation

An article posted on Florida Realtors® today, says:

“Tighter housing inventories are starting to lift home prices, says Anand Nallathambi, CoreLogic’s CEO. CoreLogic’s latest home price index, which includes distressed sales, shows a slight month-over-month nationwide increase of 0.6% in home prices from February to March. But some markets are seeing much more of a price boost this spring, including Florida, which ranked No. 5 overall for home price increases. “This spring, the housing market is responding to an improving balance between real estate supply and demand, which is causing stabilization in house prices,” says Mark Fleming, CoreLogic’s chief economist. “Although this has been the case in each of the last two years, the difference this year is that stabilization is occurring without the support of tax credits and in spite of a declining share of REO sales.”
“States with highest appreciation – According to CoreLogic, the following states had the highest appreciation in March (this includes distressed sales):
• Wyoming: +5.9%
• West Virginia: +5.3%
• Arizona: +5.1%
• North Dakota: +4.7%
• Florida: +4.5%
“States with biggest depreciation – Meanwhile, the states with the greatest depreciation, when also figuring in distressed sales, are:
• Delaware: -10.6%
• Illinois: -8.3%
• Alabama: -8%
• Georgia: -7.3%
• Nevada: -5.8%”

Sanibel & Captiva Multiple Listing Service Activity May 4-11

Sanibel
CONDOS
No new listings.
7 price changes: Sundial #D412 1/1 now $315K, Pointe Santo #C4 1/1 now $494K, Kimball Lodge #263 1/1.5 now $496K, Pointe Santo #D24 2/2 now $655K, Pointe Santo #D35 2/2 now $679K, Oceans Reach #2D2 2/2 now $749K, Beachcomber #A101 2/2 now $1.495M.
4 new sales:. Captains Walk #D3 1/1 listed for $140K, Sundial #F407 1/1 listed for $297.5K, Pine Cove #102 3/2 listed for $879K, Sanctuary Golf Villages I #4 3/3 listed for $948K.
5 closed sales: Coquina Beach #5A 2/2 $300K, Coquina Beach #4G 2/2 $385K, Tarpon Beach #104 2/2 $645K, Sayana #202 2/2 $825K, Sundial #T306 3/2 $900K.

HOMES
3 new listings: 1809 Bowman’s Beach Rd 3/2 $600K, 1405 Jamaica Dr 3/2.5 $659K, 2498 Harbour Ln 4/3 $995K.
2 price changes: 1339 Par View Dr 3/2 now $659.5K, 2964 Wulfert Rd 5/5.5 now $2.464M.
5 new sales: 1657 Sand Castle Rd 2/2 half-duplex listed for $349K, 533 Rabbit Rd 3/2 listed for $499.5K, 740 Durion Ct 3/2 listed for $599K, 1244 Par View Dr 4/3 listed for $858.9K, 926 Whelk 4/3 listed for $1.295M.
6 closed sales: 3812 Coquina Dr 3/2 $405K; 1417 Causey Ct 3/2 $525K; 215 Robinwood Cir 3/2 $590K; 231 Daniel Dr 3/2.5 $725K; 1735 Jewel Box Dr 3/2 $747,757; 440 East Gulf Dr 3/2 $885K.

LOTS
No new listings.
1 price change: 133 Butterknife Pl now $339K.
No new sales.
2 closed sales: 555 Piedmont Rd $140K (our listing), 1326 Junonia St $267K.

Captiva
CONDOS
No new listings.
1 price change: Gulf Beach Villas #2116 1/1 now $439K.
1 new sale: Bayside Villas #5234 1/2 listed for $315K.
No closed sales.

HOMES
No new listings or price changes.
1 new sale: 11512 Andy Rosse Ln 2/2 listed for $945K.
2 closed sales: 14981 Binder Dr 3/3 $824K, 1 Sunset Captiva Ln 2/2.5 $1.35M.

LOTS
Nothing to report.

The Islands Are Flowering Every Month, Including May

Posted on May 4, 2012 by SanibelSusan

It is the end of another glorious week of sunny weather on Sanibel. Traffic has subsided and the islands are thinning out, but surprisingly, business again was brisk for us this week. Here are a few news items, followed the Sanibel and Captiva Islands Multiple Listing Service activity over the past seven days.

Here are some favorite island flowers to illustrate that with our Southwest Florida tropical weather, the islands of Sanibel and Captiva are colorful year-’round. Hope you like the one with the turtle.

No Realtor® Caravan This Week

Usually it is local “off season” signal when our Realtor® Caravans change from every Thursday to every other week. That off-season schedule began this week and probably will continue until November, or until business picks up again. Interestingly, for us at SanibelSusan Realty, however, this was another busy week.

I sold one of our lot listings to some European visitors, while an off-island Realtor® sold one of our condo listings. An offer on another condo is in the works, while our other two sales transactions (ready to close soon) are progressing well. All-in-all, it was another productive week, though unusual for this time of the year. All we can say is “keep it coming”.

Visit CROW’s New Visitor Center

On Monday evening, CROW (Clinic for Rehabilitation of Wildlife, Inc.) held an open house for island Realtors® at their new Healing Winds Visitor Center. Though I have been a long-time CROW member and supporter of this wonderful facility, it was my first opportunity to leisurely check out their new exhibits and talk to the new Hospital Director, Dr. Heather Barron. Dr. Heather joined their staff in January.

This special event was a follow-up to CROW Executive Director Steve Greenstein’s recent presentation to our Association membership. If you also have not recently visited CROW, please put it on your “do list”. I have some free passes to the Visitors Center and their daily (Tues through Sat) programs at 11 a.m. are continually changing as are the exhibits in the Center. Geared to educate adults and children alike, CROW’s offerings have greatly expanded during my 20 years on Sanibel as has their number of patients. If you plan to visit CROW during one of these 11 a.m. programs, consider a Friday, when they often have live animals in their cooperative presentation with partners from the Calusa Nature Center.

Is Florida’s Shadow Inventory a Rebound Threat?

This article was posted on Florida Realtors® on Tuesday. Note, the full report – The Distressed Property Market and Shadow Inventory in Florida: Estimates and Analysis – is available online.

“The term “shadow inventory” hangs over the real estate market, suggesting a thinly veiled catastrophe seen through the mist, just as the passengers of the Titanic watched an iceberg draw closer. However, a white paper written by Florida Realtors® Chief Economist Dr. John Tuccillo finds the fear of a shadow inventory overrated.
““The fear…is that the inventory of delinquent and foreclosed loans (will be released onto) an already weakened market,” says Tuccillo. “(But) the reality, even in Florida where distressed properties make up a significant portion of the market, appears to be different.” Tuccillo says lenders have no reason to flood the real estate market with more homes if doing so would drive prices down and impact the lender’s profit. While some observers worry that lenders were holding back on purpose, Tuccillo says that’s not so – that the large number of distressed properties on hold was “largely the result of confusion over the rules of the game, and thus missteps by the lenders.”
“In conducting an analysis, Florida Realtors® Research looked at data from MLSs around the state and data provided by CoreLogic, a statistical analysis company. “We looked at the recent history of distressed property listings and transactions relative to normal market data, as well as estimates for the shadow inventory, and came to some conclusions about the likely course (for the) future,” says Tuccillo.
“Conclusions
• Florida remains one of the nation’s hardest hit states for distressed property sales.
• Distressed property sales and listings have declined since late 2010, except for single-family-home short sales.
• Average prices for distressed and normal property sales have been stabilizing.
• In general, Realtors and lenders have learned how to cope with distressed properties in a way that stabilizes the market.
• Florida’s highest percentage of distressed property (compared to total listings) occurs in the I-4 corridor and Southeast Florida; the lowest percentages occur in Northwest Florida.
• Currently, Florida’s shadow inventory was 550,000 units at the end of 2011, a decline of about 9% from its peak in the first quarter of 2010.
• Currently, the flow of new seriously delinquent (90 days or more) loans moving into the shadow inventory is offset by the roughly equal flow of distressed sales (short sales and REOs).
• The number of foreclosures and REOs was significantly lower in February of 2012 than one year earlier, suggesting slower shadow inventory growth.
“Tuccillo predicts that distressed properties will be a significant feature of the Florida real estate market over the next ten years, but it will be considered just one property type a buyer can consider – one that has its own unique sales techniques and documentation.”

Update on Citizens (Wind) Property Insurance

An article in the Miami Herald on Tuesday offered the following:

“Citizens Seeks Fewer Customers, Higher Premiums – Citizens Property Insurance has some new ambitious goals: Move as many as 678,000 policyholders out of state-run insurance and once again become the “insurer of last resort.” Its strategy: Enact a flurry of policy changes that will undoubtedly raise premiums and reduce coverage for thousands. Citizens which unveiled the aggressive “depopulation” plan this month in a revised budget proposal, says it is doing so to prevent statewide financial havoc in the wake of a major hurricane. “Citizens has the ability to levy assessments (hurricane taxes) on almost all Florida policyholders in the event of a deficit after a storm,” spokeswoman Christine Ashburn said in an email. “The long term goal will continue to be returning policies to the private market, which is ultimately how we can reduce the reliance on assessments.”
“But some homeowners have already been impacted by the first wave of Citizens’ campaign to drastically reduce its size and shore up its finances. Patricia Temple, of Coral Gables, is bracing for a $2,150 premium increase this year, after Citizens sent an inspector to her home and decided her payments were too low. “I have to do what I have to do because I (can) not be without insurance,” said Temple, who is 79 and retired. “But I don’t understand how they can do this if the Legislature put in a 10% cap on rate increases.” Temple became a Citizens client after Liberty Mutual, her insurer of 50 years, dropped her. Though she says she has not made a property insurance claim in five decades, Citizens raised her rates by 50%.
“Stories like Temple’s are echoed by thousands of policyholders who say they’ve seen costs suddenly spike despite never making a claim or experiencing hurricane damage. Under a sweeping re-inspection program, Citizens has sent inspectors to 158,000 buildings in the last two years. As inspectors check roofs and windows, more often than not, they find something that translates into higher premiums, with an average increase of nearly $900. Another 209,000 inspections are scheduled for this year, and Citizens recently proposed a new $50,000 contract for a new study of wind mitigation credits. The study is likely to lead to premium increases, and Citizens board member John Rollins indicated the return on investment for the study would be measured in millions of dollars.
“Sean Shaw, founder of Policyholders of Florida, said that money will ultimately come out of the pocket of hard-working homeowners, who are paying more for less coverage. “People are at such a disadvantage when Citizens does this,” he said. “It’s like they’re treating people like data points.”
“Despite recent moves to reduce wind mitigation credits and raise rates on sinkhole coverage, Citizens has not experienced any significant reduction in size (the insurer swelled from 800,000 policies in 2007 to more than 1.4 million today). Citizens’ depopulation push will soon go into overdrive, with several hard-charging coverage changes set to kick in over the next 18 months. Ideally, Citizens would like to shrink by 45% to 794,308 policies in the very near future.
“With private insurers still wary about the Florida market, it’s not clear where 678,000 current policyholders will go for coverage when contracts end with Citizens. Citizens’ theory is that its artificially low rates discourage private insurers by making the market uncompetitive. It’s banking on more private insurers picking up the slack as it depopulates.
“Here are a few of the changes that begin Tuesday for Citizens policyholders:
• Homeowners who need to join Citizens will have to submit written proof that there is no private insurer able to provide affordable coverage for their home.
• Citizens will no longer offer Builders’ risk insurance for new homes.
• Coverage for carports, screened enclosures and fences will end for renewal policies.
• The personal liability coverage limit will decline from $300,000 to $100,000.
“The push to depopulate is set to intensify in the months ahead, and those with Citizens coverage can expect to be impacted by at least one of several policy changes being proposed. Among them:
• Uncapping rates for new policies, causing new policyholders to pay as much as 50% more than existing customers for similar coverage.
• Requiring new electrical and plumbing inspections for older homes.
• Requiring new inspections and likely higher premiums in sinkhole-prone counties.
• Increasing deductibles for “all other perils” coverage.
“Most of the changes are being enacted without the Legislature, which this year declined to pass major property insurance reform. With hurricane season set to begin in a month, Citizens says it must tamp down its level of risk in order to avoid financial calamity for all consumers. While the company has been able to build up a surplus of more than $6 billion during a 6-year streak without a major storm, financial models show that a large hurricane this year could wipe out those funds and other resources. That would lead to assessments for Citizens’ customers and potentially for all insurance policyholders in the state. That’s why the Citizens board of directors, with the support of Gov. Rick Scott, is trying to attract private insurers back into the market by shrinking Citizens as quickly as possible.
““It is important that Citizens work towards having adequate rates to reduce the likelihood of assessments on all Florida policyholders,” said Ashburn. Some say those private insurers are never coming back, particularly in the state’s high-risk areas where it doesn’t make financial sense to underwrite homes. “We’d all love to see the depopulation of Citizens, but guess what? The private companies are not coming back to this area,” Sen. Mike Fasano, R-New Port Richey, told Citizens’ executives last week. “Please, please, leave the people alone that are struggling.””

Sanibel & Captiva Multiple Listing Service Activity April 27- May 4

Sanibel

CONDOS

2 new listings: Sealoft Village #106 2/2 $559K, Compass Point #203 2/2 $599K.

10 price changes: Lighthouse Point #217 3/2 now $339K, Blind Pass #C110 2/2 now $399.9K, Sea Pines #D 3/3 now $469K, Sundial #I103 1/1 now $485K, Sea Pines #E 3/3 now $579K, Pelicans Roost #104 2/2 now $599.8K, Heron at The Sanctuary III #1B 3/2.5 now $615K, Heron at The Sanctuary II #2A 2/2.5 now $619K, Compass Point #181 2/3 now $997K, High Tide #B202 2/2 now $1.447.5M.

7 new sales: Sundial #B207 1/1 listed for $299K, Lighthouse Point #332 2/2 listed for $474K (our listing), Kings Crown #211 3/2 listed for $599K, Sand Pointe #132 2/2 listed for $599K, Tarpon Beach #101 2/2 listed for $619K, Tarpon Beach #104 2/2 listed for $679K, Nutmeg Village #108 2/2 listed for $795K.

11 closed sales: Seashells #29 2/2 $300K, Blind Pass #G201 2/2 $334K, Sundial #B402 1/1 $340K, Sundial #H402 2/2 $430K, Sanibel Arms West #J3 2/2 $400K, Sanibel Arms West #L6 2/2 $425K, Sealoft Village #108 2/2 $483K, Sand Pointe #211 2/2 $559.5K, Oceans Reach #1C1 2/2 $722.6K, Atrium #105 2/2 $945K, Junonia #301 3/2 $1.5M.

HOMES

6 new listings: 1649 Sand Castle Rd 3/2.5 half-duplex $415K; 2166 Egret Cir 3/2 $559,555; 740 Durion Ct 3/2 $599K; 673 East Rocks Dr 3/2 $629K; 1230 Par View Dr 3/2.5 $749,999; 919 Almas Ct 3/2.5 $1,199,999.

10 price changes: 1663 Bunting Ln 3/2 now $344K (short sale), 1702 Sand Pebble Way 3/2.5 now $399K, 490 Elizabeth Rd 2/2 now $413K, 940 S Yachtsman Dr 3/2.5 now $569K, 1271 Sand Castle Rd 3/2.5 now $609K, 1339 Par View Dr 3/2 now $667.5K, 1516 Angel Dr 3/2 now $899K, 5427 Osprey Ct 3/3.5 now $1.195M, 660 Anchor Dr 4/4 now $1.925M, 780 Birdie View Pt 5/4.5 now $1,999,999.

7 new sales: 1433 Jamaica Dr 5/4 duplex listed for $439K, 4210 Old Banyan Way 3/2 listed for $595K, 1208 Harbour Cottage Ct 3/3 half-duplex listed for $699K, 862 Beach Rd 3/2 listed for $999K, 1690 Sabal Palm Dr 4/3 listed for $1.595M, 5391 Shearwater Dr 3/3.5 listed for $1.649M, 3864 West Gulf Dr 4/5.5 listed for $2.188M.

6 closed sales: 1430 Sandpiper Cir 3/3 half-duplex $406K, 237 Daniel Dr 3/2 $522K, 2624 Coconut Dr 2/1 $656.7K, 1234 Seagrape Ln 3/2 $679K, 1537 Sand Castle Rd 4/3 $740K, 836 Sand Dollar Dr 3/2/2 $1.025M.

LOTS

No new listings.

4 price changes: 9211 Dimmick Dr now $137,555; 1894 Farm Trl now $283,555; 4636 Rue Royale now $659K; 6401 Pine Ave now $699K.

1 new sales: 1120 Olga Ave listed for $299K (our listing).

1 closed sale: 4077 Coquina Dr $215K.

Captiva

CONDOS

1 new listing: Gulf Beach Villas #2128 3/2 $895K.

1 price change: Captiva Bay Villas #D 3/3.5 now $2.995M.

No new sales.

1 closed sale: Lands End Village #1610 3/3 $1.8M.

HOMES

No new listings.

1 price change: 11490 Dickey Ln 3/2 now $849K.

No new or closed sales.

LOTS

Nothing to report.

Bailey-Matthews National Shell Museum

Inaugural Sanibel Jazz & Blues Festival

“Ding” Darling Wildlife Society – Friends of the Refuge New Web Site

Closings/Openings/Moves

South Florida Housing

Sanibel & Captiva Islands Multiple Listing Service Activity August 26-September 2, 2016

Until next Friday, wishing you a wonderful holiday weekend! Susan Andrews, aka SanibelSusan

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23rd Annual Sam Bailey’s Island Night

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Watch Out for Inflation

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Leaving Your Property for the Summer

Sanibel & Captiva Islands Multiple Listing Service Activity May 13-20, 2016

Until Memorial Day weekend, Happy Friday!

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New Sanibel Photos

Local Fishermen & Divers Will Love This One

Donax Street Cell Tower To Be Erected Early Next Year

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Value of “For Sale” Signs

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Sanibel & Captiva Multiple Listing Service Activity June 1-8:

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Realtor® Fundraiser

‘Tween Waters Inn Joins National Register of Historic Places

County to Pay for Blind Pass Dredging Project

Florida Realtors® President in Spain With the Governor

NAR President Kicks-off 5-Year Flood Insurance Coalition Push

Flood Insurance Moves in Congress

Citizens’ Hurricane Mitigation Inspections Pick Up

Florida’s Housing Market Continues Positive Signs in April 2012

Sanibel & Captiva Multiple Listing Service Activity May 18-25:

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Realtor Rally to Protect the American Dream

Vacation Homes Beckon

Sanibel & Captiva MLS Activity May 11-18:

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Family-Friendly Destination

Florida in Top Five for Home Price Appreciation

Sanibel & Captiva Multiple Listing Service Activity May 4-11

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No Realtor® Caravan This Week

Visit CROW’s New Visitor Center

Is Florida’s Shadow Inventory a Rebound Threat?

Update on Citizens (Wind) Property Insurance

Sanibel & Captiva Multiple Listing Service Activity April 27- May 4

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23^rd Annual Sam Bailey’s Island Night