The Sky is Blue & Real Estate is Selling on Sanibel & Captiva Islands

Posted on January 30, 2015 by SanibelSusan

It is another sunny Friday on Sanibel – what we call, “another picture-perfect day”. It reminds me of yesterday when I complimented an island pal on her Sanibel photos and she said “use them anytime”. So, before the rest of Friday’s blog, here are a few feathered friend pictures – thanks to Ellie Hayward. She took the alligator pix too!

Sanibel & Captiva Islands Association of Realtors®

More winter sales were announced at our local Association of Realtors® Caravan Meeting yesterday and calls for showings are picking up too.

Below are a couple of news items followed by the Sanibel & Captiva Islands Multiple Listing Service action over the last seven days. “Season” is shaping up to be a good one. The statistics below indicate the few sales already in process. During the next three months, the number of sales should jump.

CONDOS HOMES LOTS

# / Avg $ / Avg DOM # / Avg $ / Avg DOM # / Avg $ / Avg DOM

SANIBEL

Available 117 / 751,571 / 403 155 / 1,258,601 / 243 79 / 499,905 / 722

Pending 27 / 755,406 / 373 43 / 1,086,499 / 320 6 / 496,250 / 663

Sold/closed in:

2015 to 1/30 8 / 491,094 / 398 10 / 784,468 / 365 1 / 352,000 / 192

2014 164 / 650,418 / 286 206 / 838,672 / 265 27 / 424,198 / 495

CAPTIVA

Available 43 / 885,909 / 372 50 / 3,503,921 / 318 6 / 2,280,000 / 330

Pending 4 / 1,113,500 / 118 4 / 7,337,250 / 442 1 / 1,390,000 / 116

Sold/closed in:

2015 to 1/30 0 / N/A / N/A 0 / N/A / N/A 0 / N/A / N/A

2014 22 / 624,068 / 421 23 / $2,826,717 / 364 0 / N/A / N/A

Island Happenings

SanibelSusan.com continues to bring us listing inquiries and this week one came from a follower of the “Upcoming Events” also posted on our web site. Tracking island happenings keeps us current. Here are a couple of new items recently noticed.

Water Quality Exhibit at SCCF Nature Center – Water quality is a subject key to our real estate business and an item often discussed at our state Association of Realtors® Land Use Committee meetings. A new 5-panel exhibit at SSCF’s Nature Center is the first on the island about water quality. Educational and fun for all ages, the centerpiece of this SCCF exhibit includes a touchscreen with an in-depth RECON overview. RECON is the River Estuary Coastal Observing Network which was launched in 2007. RECON sensors along the Caloosahatchee River, Pine Island Sound, Tarpon Bay, and San Carlos Bay gather data which aids in research and management of the water in these areas. The Nature Center at SCCF is open weekdays from 8:30 a.m. to 4 p.m.
Mayor’s Report to CASI – Last Friday, Sanibel Mayor Ruane updated CASI (Condominium Associations of Sanibel, Inc.) on the progress City Council has made this year in its goals of improving water quality, stabilizing city finances, and encouraging sensitive redevelopment. A few statistics he mentioned include that 27% of Lee County’s tax revenues come from Sanibel. Of each Sanibel property owner’s tax bill, 15 cents is retained by Sanibel, while 85 cents goes to the county. With some carefully selected projects like the Sanibel Civic Core which is being planned for the city hall/library area and expected to include BIG ARTS, the Senior Center, and the Sanibel Community Association, City-owned property may be eligible for bringing some of those tax dollars back to the island.
CROW’s New Speaker Series – Beginning in February and running through March, CROW is offering more interactive and educational programs. As they are announced, dates will be posted on SanibelSusan.com “Upcoming Events”. More info at www.crowclinic.org.

Existing-Home Sales Rebound: 5 Stats to Know

Below is a summary article from “Daily Real Estate News” last Friday. It’s a good synopsis of the real estate market nation-wide.

“Home sales picked up at the end of 2014, closing off a year that had a sluggish start but then showed encouraging signs in the second half, according to the National Association of REALTORS®’ latest housing report, released Friday.

“Existing-home sales rose 2.4% in December month-over-month, bouncing back after a dismal November. Total home sales –reflecting completed transactions of single-family homes, townhomes, condos, and co-ops – reached a seasonally adjusted annual rate of 5.04 million in December. “Home sales improved over the summer once inventory increased, prices moderated, and economic growth accelerated,” says Lawrence Yun, NAR’s chief economist. “Sales were measurably better in the second half – up 8% compared to the first six months of the year.”

“Overall for 2014, the median national existing-home price was $208,500, reaching the highest level since 2007, and a 5.8% increase from 2013 when it was $197,100. However, total existing-home sales were 3.1% lower in 2014 compared to 2013, NAR reports. Here’s a closer look at five housing stats from NAR’s latest report — reflecting December 2014 data — to gauge the market:

“1. Home sales: Single-family home sales rose 3.5% in December to a seasonally adjusted annual rate of 4.47 million compared to 4.32 million in November. Single-family home sales are 4% above the pace a year ago. Existing condo and co-op sales, on the other hand, dropped 5% in December.

“2. Home prices: The median existing-home price for all housing types in December was $209,500 – 6% higher than year ago levels. This marks the 34th consecutive month of year-over-year price gains.

“3. Days on the market: Properties typically stayed on the market in December for 66 days, a slightly shorter time frame than a year ago when the average was 72 days. Short sales were on the market the longest amount of time at a median of 98 days in December, while foreclosures sold in 61 days. Non-distressed homes averaged 66 days on the market. About 31% of homes that were sold in December were on the market for less than a month, according to NAR.

“4. Distressed sales: Foreclosures and short sales edged up slightly in December, reaching 11% of sales compared to 9% in November. However, distressed sales are down from 14% a year ago. Of December existing-home sales, 8% were foreclosures and 3% were short sales. On average, foreclosures sold for a discount of 15% below market value while short sales were discounted 12%.

“5. Inventory: Total housing inventory at the end of December fell 11.1% to 1.85 million existing homes available for sale. That represents a 4.4-month supply at the current sales pace, which is down from 5.1 months in November. Unsold inventory is now 0.5% lower than a year ago.

““A drop in housing supply in December raises some affordability concerns in the months ahead as minimal selection and the potential for faster price appreciation could offset the demand from buyers encouraged by a stronger economy and sub-4 percent interest rates,” says Yun. “Housing costs – both rents and home prices – continue to outpace wages and are burdensome for potential buyers trying to save for a down-payment while looking for available homes in their price range.”

“By Region: The following is a look at how existing-home sales performed across the country in December:

Northeast: existing-home sales fell 2.9% to an annual rate of 660,000. Sales are 3.1% above year ago levels. Median price: $246,600, up 3.2% above a year ago.
Midwest: existing-home sales dropped 3.5% to an annual level of 1.09 million in December. Sales are 2.7% below December 2013. Median price: $159,100, up 5.3% from a year ago.
South: existing-home sales in the South climbed 3.8% to an annual rate of 2.17 million in December. Sales are 7.4% above December 2013. Median price: $184,100, up 6.6% from a year ago.
West: existing-home sales surged 9.8% to an annual rate of 1.12 million in December. Sales are 2.8% above a year ago. Median price: $299,600, up 5.6% year-over-year.”

Housing Demand Rises, Supply Is Bigger Issue

As the market rebounds another concern was highlighted by Realtor.com in another recent article. We are already seeing signs of not enough inventory on Sanibel and Captiva too. We all know that shrinking inventory often results in rising prices.

“Several signs in the housing market point to higher demand for real estate, but the big question remains whether the supply will be able to meet the rise in demand, writes Jonathan Smoke, chief economist at realtor.com®, in new commentary at realtor.com®. “Supply is quickly becoming the biggest concern for healthy growth in home sales in 2015,” Smoke notes.

“Smoke points to the following three positive signs showing higher demand in the housing market:

Builders are more confident: Builders are remaining upbeat about the new-home market. The National Association of Home Builder’s Housing Market Index recently showed builder sentiment on the rise, with builders optimistic about the six-month outlook in the new-home market. New construction is starting to follow suit. Housing starts rose 4.4% in December, with that rise driven by an uptick in single-family construction. Single-family starts are at the highest number in six years, reaching a pace of 728,000 units in December. “That is a good early sign that homebuilders are gearing production for greater demand in the spring,” Smoke notes.

Low mortgage rates: Mortgage rates continue to hit new yearly lows, bringing borrowing costs down for home buyers and refinancers. As such, mortgage application activity rose to its highest level since June 2013 recently. The 30-year fixed-rate mortgage averaged 3.63% last week, its lowest weekly average since May 2013, according to Freddie Mac. But economists are warning that the low rates won’t likely stick around much longer and could move up to 5% by the end of the year.

Existing-home sales rebounding: Demand has been growing in the existing-home sales market too. The annual pace of existing-home sales was 5.04 million in December, 3.5% higher than last year, according to the National Association of REALTORS® latest report.

“Housing supply remains the biggest issue, Smoke says. The inventory of existing-homes is at a 4.4-month supply at the current sales pace – well-below the 6-month supply that most economists consider healthy, according to NAR’s December report. “We need more markets to see listing growth over the next several weeks to keep appreciation at healthy, normal levels,” Smoke says. “With three years of positive price appreciation behind them, existing-home owners in most areas should see conditions as very favorable for trading up. That is what the market needs to set the stage for significant growth this spring.””

Why I Bought Realtor.com®

As a Realtor® who has had successful results from Realtor.com, but many frustrations from inquiries from viewers looking at other third party real estate search sites, I have patiently been waiting for more news about Rupert Murdoch’s recent purchase. Here is the article posted on “Daily Real Estate News” yesterday. Love the last sentence!

“News Corp founder and executive chairman Rupert Murdoch took the stage at Real Estate Connect in New York on Thursday to explain why Move Inc., the operator of realtor.com®, was a better acquisition than its chief rivals in the online real estate space. Murdoch said Move and realtor.com® have a trifecta of powerful marketing points over Zillow and Trulia. “Move has the most up-to-date and accurate listings in the market,” Murdoch said, noting that realtor.com®’s listings are updated every 15 minutes.

““Move has a close relationship with the National Association of REALTORS®, and I believe real estate agents are crucial to every home sale in America,” he said. “Realtor.com® attracts transaction-ready consumers — they’re not just window shoppers — and that’s attractive to advertisers,” Murdoch said.

“Most people who begin their real estate search online eventually need human interaction and guidance, Murdoch said, and realtor.com® facilitates those connections. “There is no digital replacement for the human touch,” he said. “No technology can meet all of someone’s needs. It takes a real person. Realtor.com® helps bring home buyers, sellers, and agents together. We want the shortest distance between the American Dream and a family’s reality to be realtor.com®.”

“Murdoch reassured critics that News Corp’s goal is not to turn Move into a media company and take realtor.com® away from its mission of connecting agents with consumers. Instead, he said, he wants to enhance the realtor.com® user experience to help it better fulfill its mission. “We’re going to add to the user interface, make it more obviously friendly for agents and consumers,” Murdoch said. “We’ve got to make a better product, and then when we’re satisfied, we need to get out and market it hard. We understand that there’s a different business model in America,” continued the Australian-born media magnate, who owns media properties all over the world. “We don’t want to replace agents — we think they’re absolutely central.”

“Murdoch also predicted that the U.S. housing market would continue to expand and recover — another reason he was interested in buying a real estate company. He said the data he’s been seeing from Move thus far is encouraging, and the U.S. market offers the best bet for long-term growth in the world.

“Murdoch ended on a note that easily became the most talk-about moment of his appearance at Real Estate Connect. He said he believed in the ability of the realtor.com® name to attract consumers away from the site’s rivals because “we all know what ‘REALTOR®’ means.” And then he quipped: “What the hell does ‘Zillow’ mean?””

Sanibel & Captiva Multiple Listing Service Activity January 23-30

Sanibel

CONDOS

2 new listings: Sanibel Arms West #L5 2/2 $524.9K, Sanibel Sunset #202 3/2 $1.795M.

3 price changes: Captains Walk #C7 1/1 now $244K, Sanibel Arms West #J4 2/2 now $459K, Sanddollar #A104 2/2 now $819K.

4 new sales: Sundial #F406 1/1 listed for $359.9K, Sanibel Arms West #L5 2/2 listed for $524.9K, Loggerhead Cay #191 2/2 listed for $660K, West Shore #6 3/3 listed for $1.795M.

1 closed sale: Pointe Santo #A2 2/2 $782.25K.

HOMES

8 new listings: 4109 SanCap Rd 2/1 $324K, 4619 Brainard Bayou Rd 3/2 $599.9K, 1085 Sand Castle Rd 3/2 $669K, 1182 Kittiwake Cir 3/3 $739K, 923 S Yachtsman Dr 3/2 $889K, 1331 Sand Castle Rd 3/2.5 $985K, 5418 Osprey Ct 4/3.5 $1.195M, 4525 Waters Edge Ln 3/3.5 $4.495M.

8 price changes: 2621 SanCap Rd 3/2 now $279K; 1602 Serenity Ln 3/2 now $499K; 9032 Mockingbird Ln 3/2 now $619,995; 741 Nerita St 3/2 now $679K; 3131 Twin Lakes Ln 3/2 now $704,999; 1224 Par View Dr 3/3 now $1.099M; 518 N Yachtsman Dr 3/3 now $1.179M; 2255 Troon Ct 4/5.5 now $1.55M.

6 new sales: 320 Palm Lake Dr 2/2 listed for $424K, 590 Lake Murex Cir 2/1.5 listed for $635K, 5753 Pine Tree Dr 3/4 listed for $749K, 1337 Eagle Run Dr 3/2.5 listed for $1.149M, 6440 Pine Ave 3/3 listed for $1.295M (our sale), 536 Lighthouse Way 4/4.5 listed for $3.395M.

1 closed sale: 960 S Yachtsman Dr 3/3 $1.299M.

LOTS

No new listings.

1 price change: 1311 Par View Dr now $269.9K.

No new or closed sales.

Captiva

CONDOS

2 new listings: Tennis Villas #3115 1/1 $294.9K, Beach Villas #2614 2/2 $620K.

2 price changes: Bayside Villas #4114 1/2 now $269.9K, Bayside Villas #5316 3/3 now $619K.

No new or closed sales.

HOMES

1 new listing: 928 S Seas Plantation Rd 5/5.5 $4.175M.

1 price change: 17130 Captiva Dr 4/4 now $4.499M.

2 new sales: 43 Oster Ct 2/2.5 listed for $784.9K; 16585 Captiva Dr 5/4/2 listed for $2,799,585.

No closed sales.

LOTS

No new listings or price changes.

1 new sale: 16915 Captiva Dr listed for $1.39M.

No closed sales.

This representation is based, in whole, or in part, on data supplied by the Sanibel & Captiva Islands Association of Realtors® or its Multiple Listing Service. Neither the association nor its MLS guarantees or is in any way responsible for its accuracy.

Until next Friday – best weekend wishes to all – from Susan Andrews, aka SanibelSusan

Sanibel & Captiva Real Estate News from Orlando to the Islands

Posted on January 23, 2015 by SanibelSusan

It’s a group effort today. I (Susan) am in Orlando at the Florida Realtors® Mid-Winter Business Meetings, while David and Elise are in the office minding the store.

Several of our listings had showings this week and island traffic picked up appreciably again over the holiday weekend, though many of those here on Monday seemed to be day-trippers.

I was out showing canal-front property both Saturday and Sunday and teammate Dave has been fielding several inquiries both last week and this from several entry-level buyers.

Another cooperative group Open House is scheduled at The Sanctuary on the afternoon of February 4. We will have our listing at 5743 Balstusrol Court open then as The SanibelSusan Team continues to host open houses there and at other vacant listings as they are available.

After a few news items below is the action posted over the last seven days in the Sanibel & Captiva Islands Multiple Listing Service.

Florida Realtors® 2015 Mid-Winter Meetings

The Florida Realtors® Mid-Winter Meetings in Orlando each January are when the state leadership team sets the stage for the year. I arrived in time for Wednesday’s Economic Summit where the future of the economy internationally and nationally, was further broken down to the state level, then by county.

Indications are that 2015 will be a good one for real estate sales in most of Florida. Lee County is one of the top areas experiencing a growth spurt again.

The profile of the prospective Florida buyer still varies greatly from east to west coast with little activity here from Asian and South America buyers which are a huge component on the east coast. Florida’s terrific weather, low gas prices, Panama Canal expansion, consumer confidence, general increased savings by the population, and pent-up demand are the biggest contributors to the bright outlook for future sales here.

(Interestingly, as we were preparing this update, teammate Dave pointed out the recent reports by Reuter and others about the weakening of the euro against the dollar and how that likely will affect European business which plays a key role in the economy of South Florida (both coasts). Additionally, with other recent reports this week of Russians looking to back out of U.S. sales contracts because of the fall of the ruble, it will be interesting to see how the year advances. The SanibelSusan Team’s business with international buyers has increased over the years, sometimes because of referrals through our sphere of influence, networking, and memberships in international real estate organizations. These economic snapshots are just that, so important to watch, and ever changing.)

Last night, The Sanibel & Captiva Islands Association of Realtors® again took home four of five state awards for RPAC contributions. We keep trying to win that 5th one too. Maybe next year!

Sanibel & Captiva continually earn the state prize for highest-percentage participation over goal mostly because our members recognize how important those contributions are. Realtor associations® get state and national support and monies back when they are needed for issues that affect real estate and property rights locally.

In past years, the islands have benefited from these dollars in efforts to improve water quality, promote beach re-nourishment, and ensure build-back.

Later today, I am participating in a Professionalism Forum which is covering a new Ombudsman Program that has been mandated nationally for all local associations to adopt by 2016. This program averts the filing of ethics complaints through enhanced communication and problem-solving techniques.

As the 2015 Chairman of Sanibel/Captiva’s Grievance Committee, this new program on the islands likely will make my job easy. Fortunately, the islands association rarely gets complaints from either the public or Realtors, but we are prepared just the same. More importantly we educate our members that strong ethics and the doing business by the golden rule are key.

Tomorrow, the Professional Development Committee meeting in the morning will cover motions from the Curriculum Subcommittee, Faculty Subcommittee, and Faculty and Program Development Subcommittee. This Committee is the group that handles all of the education for our members. No work for me on the Audition Panel this time, I have been appointment as a full committee member.

Late morning, I will play a role at the Professional Standards Forum where new national Core Standards including Citation Programs will be presented in a series of short vignettes. No costumes this year as these standards are serious changes. Sanibel and Captiva Islands Association has already adopted a Citation Program too. For a small association, we are very pro-active.

In the afternoon, I am a member of the Resort and Second-Home Specialists Forum where in addition to the information shared, it results in networking that brings The SanibelSusan Team business. Owners of real estate in resort areas often purchase more than one property. This state exposure, keeps in the minds of colleagues around the state who similarly work the resort and second-home market.

Tomorrow night after the District meetings (our District also covers Naples, Marco Island, Bonita/Estero, Fort Myers & The Beach, and Cape Coral), I will attend the Inaugural Banquet featuring the installation of the Florida Realtors® 2015 Officers, District Vice Presidents, and Presidents of Florida’s Chapters of National Association of Realtors® Institutes, Societies, and Councils.

Wondering how this convention-type stuff helps business? I am a firm believer that volunteering time and giving back to your profession brings rewards. It has worked so far and it keeps us ahead of the curve in industry happenings. I am pleased to be appointed to these state committees and happy to bring back all of the news and handouts to share with our local association members.

Sunday morning will have me on the road heading back to the island where I likely will be in the office by mid-afternoon. Meanwhile, teammates Elise and Dave are in the office today, with Lisa and Dave covering tomorrow, and Sunday morning. (Of course, I have been doing some wheeling and dealing by email/phone while here too.)

LCEC Rate Decrease

Good news from Lee County Electric Co-op. In their January newsletter, it says “While many utilities are increasing electric rates, LCEC is reducing rates for the second year in a row. 2015 begins the seventh year LCEC has not raised electric rates….The LCEC Board of Trustees approved a decrease in the PCA from $16.65 per 1,000 kWh to $14.60 per 1,000 kWh….”

In the same newsletter were some reminders of some no-cost ways to help keep even more money in your pocket:

“Manage your thermostat – no lower than 78 degrees in summer; no higher than 68 degrees in winter.
Use ceiling fans only when you are in the room..
Turn lights off when you aren’t in the room.
Clean fridge coils regularly.
Only run dishwasher/clothes washer when they are full.
Use microwave, toaster oven, crock pot more often.”

Sanibel & Captiva Multiple Listing Service Activity January 16-23

Sanibel

CONDOS

3 new listings: Sundial #O201 2/2 $749K, Kings Crown #317 2/2 $940K, Kinzie Island #A 4/3.5 $2.495M.

2 price changes: Sandpiper Beach #504 2/2 now $669K, Sand Pointe #214 2/2 now $729K

7 new sales: Captains Walk #E5 2/2 listed for $299K, Lighthouse Point #215 3/2 listed for $575K, Pointe Santo #B4 2/2 listed for $664K, Loggerhead Cay #522 2/2 listed for $695K, Sand Pointe #228 2/2 listed for $799K, Gulfside Place #125 2/2 listed for $1.17M, Wedgewood #305 3/3.5 listed for $1.369K.

2 closed sales: Loggerhead Cay #322 2/2 $495K, Sundial #Q202 2/2 $650K.

HOMES

9 new listings: 1550 Bunting Ln 2/2 $399K, 9475 Bunting Ln 3/2 $547.9K, 240 Southwinds Dr 3/2 $549K, 3724 Agate Ct 2/2 $585K, 1460 Court Pl 6/5.5 (multi-family) $699K, 9445 Beverly Ln 3/2 $799K, 6101 Castaways Ln 4/2 $880K, 461 Lighthouse Way 4/4 $1.995M, 2980 Wulfert Rd 4/6.5 $2.995M.

8 price changes: 702 Donax St 2/2 now $415K, 3716 Coquina Dr 3/2 now $459K, 1347 Jamaica Dr 2/2 now $615K, 9446 Beverly Ln 3/3.5 now $629K (short sale), 190 Violet Dr 3/2.5 now $1.05M, 1990 Sunrise Cir 4/3.5 now $1.295M, 2981 Wulfert Rd 4/4.5 now $1.595M, 1272 Isabel Dr 4/4.5 now $3.575M.

14 new sales: 1452 Sandpiper Cir 2/2 half-duplex listed for $359K, 1550 Bunting Ln 2/2 listed for $399K, 938 Palm St 3/2 listed for $425K, 315 East Gulf 3/2 half-duplex listed for $449K, 317 East Gulf 3/2 half-duplex listed for $449K, 739 Elinor Way 3/3 listed for $579K, 1026 Bird Watch Way 3/2 listed for $589K, 6001 Clam Bayou Ln 3/2 listed for $789K, 228 Hurricane Ln 3/2.5 listed for $799K, 2470 Harbour Ln 3/3 listed for $999.9K, 1748 Jewel Box Dr 4/4 listed for $1.098M, 3744 West Gulf Dr 4/4 listed for $1.595M, 561 Lighthouse Way 5/4 listed for $1.895M, 4577 Waters Edge Ln 4/3 listed for $2.995M.

5 closed sales: 589 Rabbit Rd 2/2 $435K; 1644 Bunting Ln 3/3 $460K; 4599 Brainard Bayou Rd 3/2/2 $520K; 1710 Middle Gulf Dr 3/2 $691,675; 9448 Cotten Ct 3/2 $864K.

LOTS

No new listings or price changes.

1 new sale: Beverly Ln (Lot 19) listed for $196K.

No closed sales.

Captiva

CONDOS

3 new listings: Bayside Villas #4206 1/2 $299K, Lands End Village #1601 2/2 $1.259M, Captiva Bay Villas #D 3/3.5 $3.595M.

No price changes.

2 new sales: Tennis Villas #3232 2/2 listed for $499K, Beach Homes #18 4/3 listed for $2.675M.

No closed sales.

HOMES

2 new listings: 11520 Andy Rosse Ln 5/5 $2.34M, 13550 Palmflower Ln 4/3.5 $5.495M.

No price changes.

1 new sale: 15301 Captiva Dr listed for $2.249M.

No closed sales.

LOTS

1 new listing: 956 South Seas Plantation Rd $2.5M.

No price changes, new or closed sales.

The Forecast Missed…It’s Another Gorgeous Day on Sanibel & Captiva Islands

Posted on January 16, 2015 by SanibelSusan

It is another sunny Friday afternoon on Sanibel Island. The weathermen forecast a high today of only the mid-60’s so some of us are wearing turtle necks, longs sleeves, and scarves with their flip flops. Ha, they were wrong again. It’s a bright 70 degrees mid-afternoon with blue skies and temperatures rising! January can be funny here though, we could still see a few days of island winter.

Below are a couple of real estate news items followed by the action posted in the Sanibel & Captiva Islands Multiple Listing Service this week. Several of our listings were shown and David/Elise hosted our Realtor Caravan Open House yesterday from 9 a.m. until noon in The Sanctuary. Since they were getting good walk-in traffic, Dave continued the Open House until 4 p.m. and got some good walk-in activity then too.

Though the roadway and bike paths were busy again this week, just 11 new sales were announced on Sanibel, one on Captiva (a big one).

Our friends in the accommodations business describe this week as setting records for reservations. That probably means that February and March will be standing room only on the islands. We can expect more sales then.

2015 Sanibel & Captiva Association of Realtors Installation & Awards Banquet

Last Saturday night, this annual event was a success and well attended with the banquet room full and the sunset spectacular from Sundial Beach Resort’s new open deck. It’s great to see the resort bounce back following its recent renovations.

This year the theme was “Carnival”, so attendees were asked to dress in white.

As the evening’s emcee again, it was fun to present the awards to this year’s winners:

Administrative Support award to Jessica Elliott with VIP, Rookie of the Year to Chris Johnson with Pfeifer Realty, Affiliate of the Year to Nanci Berlin with Barrier Island Title, Community Service award to Shane Spring with VIP, and Realtor of the Year to Dave Schuldenfrei also with VIP. Both Shane and David worked hard in the association’s continuing goals to help to improve water quality and keep flood insurance affordable.

David, also 2014 President, gave a special award to Chris Heidrick with Heidrick & Company Insurance. Chris, also a Sanibel Planning Commissioner, is Chairman of the National Flood Independent Insurance Agents & Brokers of America, and he sits on the Flood Insurance Producers National Committee which is an advisory committee to FEMA/National Flood Insurance Program.

Congratulations to all on their awards!

2015 Florida Realtors Mid-Year Business Meetings

The Florida Realtors Mid-Winter Business Meetings in Orlando begin next Wednesday with Florida’s Economic Summit. Here is the write-up posted on Florida Realtors yesterday about the upcoming summit:

“The real estate market plays a vital role in Florida’s economy, and figuring out what lies ahead in 2015 is key to policymakers, residents and Realtors®. Several respected economists will share their insights on the state’s business climate and economy at Florida Realtors®2015 Economic Summit on Jan. 21, 2015, from 1:30 p.m. to 5 p.m….The summit kicks off Florida Realtors’ Mid-Winter Business Meetings, which take place Jan. 21-25, 2015.

“”We anticipate the positive trends that developed last year to continue into 2015,” says Florida Realtors Chief Economist Dr. John Tuccillo. “Florida’s economy is producing significant numbers of jobs, in-migration is strong and the housing market will benefit. Florida Realtors expects home sales to increase by about 10% in 2015, and values to move upward at the historical average rate of 4.5-5%. Because of inventory shortages at the lower price levels of the market, measured median and average prices will rise by 10-15% – about the same as their performance in 2014.

“”Both the economy and real estate will benefit from lower gas prices, which are expected to continue through the first half of the year,” he adds. “This will give consumers more spendable income, but will also allow them to consider buying homes farther from metropolitan centers, where home prices are lower. Florida’s economy also will benefit from both the expansion of the Panama Canal, which will bring new trade and employment opportunities to Florida, and from numerous transportation projects that are now underway or planned around the state.”

“Summit speakers include Jesse Panuccio, executive director of the Florida Department of Economic Opportunity; Ted Jones, chief economist and senior vice president, Stewart Title Guaranty Company; and Dr. John Tuccillo, Florida Realtors chief economist. Attendees also will hear a discussion of regional development and economic trends from a panel of civic and business leaders….”

Loan Demand Posts Biggest Leap in 6 Years

Although most Sanibel & Captiva Island sales are cash transactions, it was encouraging to read about the uptick in the mortgage activity this week. The below article was posted Wednesday on “Daily Real Estate News” and sourced to CNBC. Whenever there is good news like this, it has positive impact throughout the market.

“Plunging mortgage rates sent mortgage applications skyrocketing last week, the Mortgage Bankers Association reports in its weekly survey released Wednesday.

“Mortgage application volume reflecting demand for home purchases and refinances soared 49.1% in the week ending January 9, compared to the previous week, the MBA reports. Most of that jump was attributed to a 66% seasonally adjusted increase in applications to refinance. Refinance applications are now at the highest level since July 2013.

“Applications for home purchases, viewed as a gauge of future home-buying activity, rose to a seasonally adjusted 24% from the previous week. Applications for home purchases are now 2% higher than they were a year ago. The MBA said a new 3 percent down payment option for qualified buyers at Fannie Mae contributed to the gain. “Purchase application volume was at its highest level since September 2013 … and notably increased across most loan size categories, particularly for the conforming, middle of the market loan segments that had been weak for much of the past year,” says Michael Fratantoni, the MBA’s chief economist.

“The 30-year fixed-rate mortgage dropped to a 3.89% average last week, its lowest level since May 2013. “In addition to the drop in rates, and news of improvement in the job market, there was additional positive news for prospective home buyers with evidence that credit availability has increased somewhat, and with the FHA’s announcement of a decrease in their mortgage insurance premiums,” Fratantoni said.”

“Sanctuary Sound”

Yesterday’s email brought the January issue of the “Sanctuary Sound” from Sheryl Tatum, Director of Membership and Marketing at The Sanctuary Golf Club. Here is an excerpt:

“What an amazing beginning to 2015! We are selling Equity Memberships like crazy. There is a Waiting List for the Social Memberships, but an Application will secure a spot on the Waiting List. The number of inquiries has doubled from last year.”

Sheryl plays an important role in getting our prospective Sanctuary clients on the golf course, tennis court, or dinner, so it is always good news when she shares what is happening in her office.

Sanctuary membership categories are: Equity Membership – $110,000; Introductory Membership – $10,000; Temporary Membership – $5,000 for 1 month or $7,000 for 2 months; Social Membership: $15,000.

Below is an aerial photos of our listing at 5743 Baltusrol Court in The Sanctuary. The lot next door is available too. Click the tabs above to access a full-page of information about each of our listings – streaming videos too!

Sanibel & Captiva Multiple Listing Service Activity January 9-16

Sanibel

CONDOS

5 new listings: Captains Walk #E5 2/2 $299K, Sanibel Arms #E8 2/2 $509K, Blind Pass #G105 3/3 $769K, 630 Periwinkle Way 4/3 $999.9K, Signal Inn #18 3/2 $1.089M.

1 price change: White Pelican #123 2/2 now $799.9K.

2 new sales: Lighthouse Point #215 3/2 listed for $575K, Sandpiper Beach #202 2/2 listed for $624.9K.

2 closed sales: Sundial #D307 1/1 $225K, Sandpebble #E 2/2 $410K.

HOMES

1 new listing: 1521 Wilton Ln 3/2 $559K.

5 price changes: 1380 Jamaica Dr 3/2 now $599.9K; 2984 Island Inn Rd 3/2 now $599,999; 9012 Mockingbird Dr 3/2 now $689K; 600 N Yachtsman Dr 3/2.5 now $1.2945M; 1204 Isabel Dr 3/3.5 now $3.995M.

8 new sales: 320 Palm Lake Dr 2/2 listed for $424K, 3001 Singing Wind Dr 3/2 listed for $449K (short sale), 1717 Windward Way 3/2 listed for $649K, 1710 Middle Gulf Dr 3/2 listed for $699K, 251 Daniel Dr 3/2 listed for $809K, 749 Pyrula Ave 3/3 listed for $1.225M, 836 Sand Dollar Dr 3/2/2 listed for $1.295M, 2400 Los Colony Rd 3/3 listed for $1.495M.

2 closed sales: 660 Durion Ct 2/2 $540K, 1674 Sabal Palm Dr 3/3 $790K.

LOTS

1 new listing: 1301 Par View Dr $249.555.

3 price changes: 2372 Wulfert Rd now $209K, 6486 Pine Ave now $359.9K, 3723 West Gulf Dr now $3.089M.

1 new sale: 2562 Coconut Dr listed for $349K.

1 closed sale: 218 Violet Dr $325K.

Captiva

CONDOS

3 new listings: Tennis Villas #3232 2/2 $499K, Bayside Villas #5324 3/3 $595K, Lands End Village #1654 3/3 1.685M.

No price changes, new sales or closed sales.

HOMES

No new listings or price changes.

1 new sale: 16660 Captiva Dr 5/5.5 listed for $14.85M.

No closed sales.

LOTS

Nothing to report.

Until next week, here is another favorite Sanibel beach photo.

Many visitors here this winter are saying the beach looks better than ever!

The SanibelSusan Team agrees!

It’s 70 Degrees, with Real Estate Popular on Sanibel & Captiva Islands

Posted on January 9, 2015 by SanibelSusan

It’s SusanSusan reporting that it has been another good week here on the islands. With Sanibel and Captiva weather reported to have some of the warmest temperatures in the nation, real estate here once again has become seasonally popular! The below photo was taken earlier this week at Sundial Beach Resort.

Below are a few news items, followed by the activity posted over the last seven days in the Sanibel and Captiva Islands Multiple Listing Service.

Sanibel & Captiva Islands Association of Realtors® 1^st Caravan of 2015

After a 2-week reprieve with the Thursday holidays, yesterday’s Association of Realtors® Caravan meeting was well attended. With close to 20 east-end properties on tour, it was tough for lookers to see them all, but both David and Elise had good turnouts in Gumbo Limbo and at Sundial. At the meeting, I also announced our new listing in The Sanctuary, advising that it will be open next Thursday morning when the Caravan rotates to west end.

Tomorrow night is our annual Installation and Awards Banquet which is being held in Sundial’s new upstairs conference facilities. As the emcee again this year, it is always fun to welcome leadership teams from our surrounding associations in District 5 (Naples, Marco Island, Bonita Springs/Estero, Fort Myers & The Beach, and Cape Coral).

We also have Florida Realtors® 2015 President, Andrew Barber coming to install our new Board of Directors, while Florida Realtors® 2013 President and now National Association of Realtors® District Vice President, Dean Asher will install the officers.

My script is ready; now I just need to keep the names of the annual award winners a secret until tomorrow night.

6 Market Types You Will See This Year

I got a kick out of the below article which was posted Tuesday on Realtor®Mag’s “Daily Real Estate News”. Sanibel and Captiva Islands don’t exactly fall into the “Comeback Kids” category, but our market is coming back!

“From the stalwarts to the tech magnets and comeback kids, the new year is likely to see several types of markets. Redfin recently highlighted six “housing market personas” that the real estate brokerage believes will be driving the continued recovery in 2015. Here’s an overview of the personas and the pros and cons of each:

Stalwarts: “Strong economies, lots of Millennial buyers, yet still affordable.” Good news: Lots of jobs and booming economies. Bad news: Picky buyers and lack of selection. Markets that fit this persona: Chicago, Houston, and Dallas.

Topping Out: “Sky-high prices that will peak and even dip into negative territory this year.” Good news: Strong economies and well-paying government jobs. Bad news: Bidding wars and low inventories. Markets that fit this persona: San Francisco; San Jose, Calif.; and Washington, D.C.

Tech Magnets: “Tech-driven economies, young wealth; getting more expensive, with growth limited by zoning or geography.” Good news: Lots of wealthy households. Bad news: Little room to expand, and suburbs losing popularity. Markets that fit this persona: Boston, Seattle, and Denver.

Comeback Kids: “Markets hit hard by the financial crisis that will see a pickup in sales in 2015.” Good news: Lots of investors and broad-based job growth. Bad news: Few affordable single-family homes, and new construction mostly limited to the luxury market. Markets that fit this persona: Miami; Atlanta; and Orlando, Fla.

Sleepers: “Not in the news much, but mid-priced cities with good economies and job opportunities.” Good news: Lots of new development and big tech-job gains. Bad news: Not many affordable homes available. Markets that fit this persona: Baltimore; Philadelphia; and Raleigh, N.C.

Down But Not Out: “Hit hardest by housing crisis, fewer jobs, still working through foreclosures.” Good news: Lots of homes for sale. Bad news: Overzealous builders and cookie-cutter remodels. Markets that fit this persona: Las Vegas; Phoenix; and Tampa, Fla.”

Speed Limit Reduced to 20 mph in The Dunes

At Tuesday’s Sanibel City Council Meeting following a presentation which detailed the results of a traffic study in The Dunes subdivision, the speed limit was reduced by unanimous City council vote to 20 mph effective immediately.

Those looking to avoid the Periwinkle Way traffic by scooting through The Dunes had better do it slowly!

Zillow, ListHub to End Listings Agreement

An Inman News article on Tuesday, “Rupert Murdoch Playing Hardball with Zillow”, resulted in the following posting on Wednesday’s “Daily Real Estate News”:

“The real estate website Zillow will soon stop receiving feeds of hundreds of thousands of for-sale home listings from ListHub within the next three months, as it expects to transition to its own listing syndication tool.

Zillow’s contract with ListHub expires on April 7. ListHub is a listing syndicator owned by Move Inc., operator of realtor.com®. Zillow officials say they plan to get more listings directly from multiple listing services and brokers through a new service called “Data Dashboard.”

In a statement, Move Inc. said that “ListHub has been negotiating in good faith a new listing distributing and reporting agreement with Zillow on terms that reflect the best interests of the brokerage industry. As communicated in public announcements, Zillow decided to end those negotiations and announced the launch of their own platform. Zillow chose their own route for their business model and interests.”

“Zillow’s has been receiving listing data via ListHub since April 2011. Since Move’s acquisition by News Corp in December, there has been speculation about whether the agreement would be extended.

“With the ListHub contract ending, Zillow’s continued flow of listings will hinge on the appeal of Data Dashboard and broker and MLS participation with it. “A few hundred thousand listings” of the 3.6 million currently displayed on Zillow would be disrupted if the ListHub contract ended today,” said Katie Curnutte, a Zillow spokeswoman, in a report on Inman News. So Zillow officials are now reaching out to MLSs and brokers to participate in Data Dashboard. Since many of Zillow’s MLS partners with Data Dashboard, so far, are located in large urban areas, Curnutte told Inman News that rural areas initially may be the most affected by the end of the agreement with ListHub.”

The Sanibel and Captiva Islands Multiple Listing Service does not syndicate its listings so they are not specifically part of this ListHub/Zillow discussion. But, many island Realtors®, me included, also have their listings posted in the regional database (covering areas from Cape Coral to Naples) through a secondary affiliation membership with the Association of Realtors of Fort Myers & The Beach. I do this to broaden the local exposure of my listings and to give them double national exposure because by having two memberships each of our listings gets two postings on Realtor.com. Those second listings, the ones inputted into the regional database, are the ones that are syndicated to a variety of other real estate search sites, like Zillow, because the Fort Myers association does syndicate its listings through a third party, called Point2.

The evolution of how the internet is affecting real estate sales and the future of the profession is interesting and obviously changing, but the local island association (me too) still subscribes to the notion that it takes someone here with first-hand knowledge of the islands to best serve both sellers and buyers on Sanibel and Captiva. After all, real estate on a barrier island is significantly different from that in most home towns.

Sanibel & Captiva Multiple Listing Service Activity January 2-9

Sanibel

CONDOS

2 new listings: Loggerhead Cay #522 2/2 $695K, Sand Pointe #228 2/2 $799K.

2 price changes: Dugger’s Tropical Cottages #4 1/1 now $279K, Seascape #105 3/3 now $1.895M.

5 new sales: Spanish Cay #F6 1/1 listed for $275K, Lighthouse Point #113 2/2 listed for $499K, Sand Pointe #235 2/2 listed for $699K, Kings Crown #307 3/2 listed for $899K, High Tide #A101 3/2 listed for $1.199M.

4 closed sales: Colonnades #51 1/1 $170K, Spanish Cay #A6 1/1 $252.5K, Tennisplace #C35 2/1.5 $290K, Sanibel Surfside #133 2/2 $824K.

HOMES

8 new listings: 2984 Island Inn Rd 3/2 $599.9K, 1409 Causey Ct 3/3 $624.9K, 1173 Kittiwake Cir 4/2 $789.9K, 625 Sea Oats Dr 3/3 $799K, 1351 Middle Gulf Dr 3/3 $989K, 657 Birdie View Pt 3/3 $999K, 1740 Dixie Beach Blvd 3/2.5 $1.29M, 836 Sand Dollar Dr 3/2/2 $1.295M.

9 price changes: 702 Donax St 2/2 now $424K, 3168 Twin Lakes Ln 3/2 now $549.9K, 590 Lake Murex Cir 2/1.5 now $635K, 732 Durion Ct 3/2 now $719.9K, 218 Daniel Dr 2/2.5 now $829K, 1287 Par View Dr 3/2 now $889.5K, 6440 Pine Ave 3/3 now $1.295M, 1520 Angel Dr 4/3/2 now $1.398M, 842 Limpet Dr 4/3.5 now $1.595M.

3 new sales: 1712/1714 Sand Pebble Way 4/2 duplex listed for $399K, 457 Lake Murex Cir 3/2 listed for $475K, 999 Dixie Beach Blvd 3/2 listed for $599K.

3 closed sales: 1661 Sand Castle Rd 3/2.5 half-duplex $350K (foreclosure), 1203 Isabel Dr 2/3 $995K, 2302 Wulfert Rd 4/5 $1.25M.

LOTS

No new listings.

2 price changes: 1304 Eagle Run Dr now $249K, 6411 Pine Ave now $329,999.

No new or closed sales.

Captiva

CONDOS

1 new listing: Tennis Villas #3234 2/2 $427K.

No price changes, new or closed sales.

HOMES

1 new listing: 16177 Captiva Dr 7/7 $6.95M.

No price changes, new or closed sales.

LOTS

Nothing to report.

Until next Friday, above is one of my favorite photos of our island feathered friends (thank you, Hans),

Susan Andrews (aka SanibelSusan) at 239-472-HOME (4663), 888-603-0603, Susan@SanibelSusan.com, SanibelSusan Realty Associates Realtor/Broker/Owner

Real Estate New Year Begins on Sanibel & Captiva Islands

Posted on January 2, 2015 by SanibelSusan

It’s SusanSusan reporting that it has been another busy holiday week on the islands. The check-ins last Saturday brought island occupancy to as close to 100% as I remember and the “day trippers” early in the week added to the traffic madness. The traffic tie-ups subsided as the week as progressed. Likely things will get back to normal tomorrow when the New Year revelers check out and head back home. Following a few general news items below is the activity posted in the Sanibel & Captiva Islands Multiple Listing Service over the past seven days.

Happenings at SanibelSusan Realty

We had a handful of showing requests this week, though not many, considering the traffic. Our colleagues report the same, indicating that many here during holidays make the trip to have fun and enjoy the islands. Experience shows that more serious lookers will be here later in the month, then it should stay hoppin’ until Easter.

Next week our Association of Realtors® is back to their Thursday morning meeting schedule (Jan 8^th), following which our two new east-end listings, 9477 Peaceful Drive and Sundial Resort #R401, will be open for Realtor® Caravan from 9 a.m. until noon. 5743 Baltusrol Court will be on Caravan the following week (Jan 15^th), when the tour rotates to west end.

Sanibel & Captiva Islands Real Estate Statistics

Below is a comparison of how island sales in 2014 stack up with the previous two years. Current inventory and properties under contract, but not yet closed, also are included. Real estate market recovery here continues at a nice solid pace.

SANIBEL CONDOS HOMES LOTS

Avg. Avg. Avg. Avg. Avg. Avg.

# Price DOM # Price DOM # Price DOM

Available 120 $716,119 436 152 $1,259,596 266 84 $512,690 802

Pending sales 20 $640,848 256 32 $976,767 305 6 $497,250 598

Sold/closed in:

2014 163 $653,365 287 205 $841,055 265 27 $424,198 495

2013 161 $573,557 326 197 $910,321 287 26 $416,502 475

2012 151 $551,244 407 183 $823,598 289 33 $487,687 521

CAPTIVA CONDOS HOMES LOTS

Avg. Avg. Avg. Avg. Avg. Avg.

# Price DOM # Price DOM # Price DOM

Available 37 $868,603 432 48 $3,598,835 336 7 $2,510,000 292

Pending sales 2 $640,000 24 2 $6,125,000 231 0 N/A N/A

Sold/closed in:

2014 22 $624,068 421 23 $2,826,717 364 0 N/A N/A

2013 36 $659,185 421 18 $2,522,056 355 2 $675,000 1,080

2012 35 $836,129 381 26 $1,536,019 609 3 $1,221,667 208

Island Events

If you are on island and looking for things to do, be sure and check out the additional and varied programs and events being offered this year. The “Upcoming Events” tab above brings up a calendar list. I have updated it to include the new 2015 education programs at CROW.

Upcoming Audubon lectures at The Community House will be added as they are advertised too.

Captiva Beach to Be Tilled

As part of the conditions of the beach renourishment project on Captiva that finished up last year, the renourished beach must be tilled at the end of the project and for three years after.

Tilling lessens the impact of compacted sand on sea turtle nesting and hatching activities as turtles like soft sand for digging their nests.

The first tilling was done last December at the end of the project. The next one is scheduled to begin January 5, so as not to interfere with piper plover nesting which begins February 1 and sea turtle nesting which begins May 1.

The project will do the renourished portion on Sanibel first, then move to the north end of Captiva. From there, it will work south toward Blind Pass. The entire process is expected to take just a week, working from dawn to dusk, weather permitting. Residents and beach goes are required to remove all obstructions from the beach during the process and to stay a safe distance away from the tractor which is performing the work. See more info at www.mycepd.com

Legal Hot Line Re: Full Disclosure

Florida Realtors® Legal Hot Line often posts questions and answers in their magazine. Here’s a good one from the Jan/Feb 2015 edition:

“What are the minimum facts that a seller of residential property is required to disclose to a buyer in Florida when completing a seller’s disclosure form? The Florida Supreme Court held, in Johnson vs. Davis, that a home seller who knows of facts materially affecting the value of the property, which are not readily observable and are not known to the buyer, is under a duty to disclose them.”

Law & Ethics

Here is some additional info from the same Florida Realtors® mag. This article is geared toward a Realtor® reader, but this info is important for Buyers and Sellers too.

“Are you the selling agent of a fully furnished home? If so, that sale may be subject to sales tax, which your broker is obligated to collect. While the sale of real property in Florida is not subject to sales tax, a sale that includes tangible personal property may be. If sales tax is due, the Florida Department of Revenue (DOR) requires the seller’s broker to register as a dealer and collect and remit the tax.

“Whether sales tax is owed depends on how the transaction is structured. Sales tax is due when the personal property items, such as furniture, artwork, lamps and area rugs, are listed separately in the purchase sale contract, bill of sale or other document…A real estate broker is obligated to collect sales tax only when the tangible personal property is described and priced separately. The total sales tax collected must include both the state 6% sales tax and the applicable discretionary sales surtax, if any, levied in the county where the property is located….”

Top Real Estate Stories of 2014

From Florida Realtors® on-line:

“The real estate industry changed in 2014 – in some ways, significantly. Florida Realtors® has put together its annual recap of the top news stories that impacted Florida’s real estate….

http://www.floridarealtors.org/NewsAndEvents/2014-Top-News-Stories.cfm “

Sanibel & Captiva Multiple Listing Service Activity December 26-January 2

Sanibel

CONDOS

4 new listings: Sanibel Arms #E7 1/1 $380K, Blind Pass #A102 2/2 $439K, Sundial #A301 2/2 $869.9K, Kings Crown #216 2/2 $940K.

1 price change: Sedgemoor #206 3/3.5 now $2.675M.

4 new sales: Sundial #D307 1/1 listed for $239K, Captains Walk #A2 1/1 listed for $245.9K, Sanctuary Golf Villages I #6 2/2.5 listed for $684K, Gulf Beach #102 2/2 listed for $749K.

1 closed sale: Sundial #G101 2/2 $420K.

HOMES

2 new listings: 1188 Harbor Cottage Ct 3/3 $945,555; 518 N. Yachtsman 3/3 $1.2M.

4 price changes: 2407 Shop Rd 2/1 now $320K, 1825 Ardsley Way 3/2 now $515K, 3168 Twin Lakes Ln 3/2 now $559K, 5076 Joewood Dr 3/2 now $949K.

3 new sales: 320 Palm Lake Dr 2/2 listed for $424K, 1130 Seagrape Ln 4/3 listed for $827K, 5721 SanCap Rd 3/3/2 listed for $1.595M.

4 closed sales: 1426 Causey Ct 3/2 $670K, 501 Sea Walk Ct 3/2 $790K, 1717 Jewel Box Dr 3/3.5 $1.7M, 1520 San Carlos Bay Dr 4/3.5 $1.92M.

LOTS

Nothing to report.

Captiva

CONDOS

Nothing to report.

HOMES

1 new listing: 16183 Captiva Dr 4/3.5 $3.995M.

No price changes.

1 new sale: 16428 Captiva Dr 7/8/2 listed for $9.5M.

No closed sales.

LOTS

1 new listing: 15879 Captiva Dr $2.995M.

No price changes, new or closed sales.

HAPPY NEW YEAR!

Until next Friday,

Susan Andrews, aka SanibelSusan

It’s The Day After Christmas 2014 on Sanibel Island

Posted on December 26, 2014 by SanibelSusan

It’s SanibelSusan reporting a warm, but cloudy, day-after-Christmas on Sanibel. Periwinkle Way, the bike paths, and shopping centers are busy, but the beach not-so-much. I just checked in with son Dave who is holding an Open House at one of our gulf-front condo listings that has a rare vacancy today, before tenant check-in tomorrow. He has only had a single visitor so far. Appears that everyone is out just having island fun today! I had lunch with a rental company manager who reports that the islands should be close to 100% booked next week, following the turn-overs and new arrivals coming in tomorrow for New Year’s week. Here are a few island-style holiday photos:

What’s Happening in the Office

Since last Friday, The SanibelSusan Team received two terrific new listings, one in Gumbo Limbo and the other in The Sanctuary. Dave and I will hold the new listing at 5743 Baltusrol Court open during a cooperative Open House at The Sanctuary on Tuesday (Dec 30) from 1 to 4 p.m. It offers a great opportunity to see not only our unique new listing, but also many of the other properties currently for sale in The Sanctuary.

Here are two photo collages. The first is 9477 Peaceful Drive in Gumbo Limbo.

Below are photos of 5743 Baltusrol Court in The Sanctuary. The lucky prospective buyer here also will be given the opportunity to purchase the adjacent lot next door.

Our new listings are included below in the report of the Sanibel/Captiva MLS activity posted over the last seven days. First, here are a few year-end and New Year news items. Next Friday, I will be posting the year-end statistics. It’s all good! The market is coming back and it looks to be a productive 2015 on Sanibel and Captiva!

Will Recovery Be Steadier in 2015?

House predictions for 2015 are varied. Here is a report posted this week in “Daily Real Estate News” which is sourced to an article published on Forbes.com:

“The housing market this year has been on a roller coaster. According to the National Association of REALTORS®, existing-home sales are expected to fall short of 2013’s total, and price gains have slowed significantly. However, builder confidence in the new-home market has been on the rise, even as new-home sales have barely budged — at just a 1.8% increase in October compared to a year earlier.

“Economists say the housing market is showing mixed signals because it’s normalizing, leveling off after a much more rapid recovery last year that was unsustainable.

“Forbes.com recently highlighted several 2015 predictions from housing experts:

Home appreciation will continue to slow. Prices didn’t increase as fast this year, and they are expected to stick to that trend into the new year. “Easing housing inventory levels and the exit of investors from the market are helping to put the brakes on home-price escalation,” Forbes.com reports. “At a deeper level, this change represents a fundamental shift in the market: We’ve moved out of rapid recovery phase and into a new normal.” Gone are the double-digit gains of 2013. Realtor.com® predicts an annual gain in home prices of 4% to 5% next year.
Buying frenzy becomes more muted. The home-buying process is expected to be less chaotic in the new year, with for-sale inventories easing and credit loosening, which could make it easier for first-time home buyers to enter the market. Investors have also pulled back in many markets. NAR statistics from October show that individual investors purchased 15% of homes, a drop from 19% year-over-year. Also, as more homes come on the market, buyers will have more choices and sellers may face more of the competitive pressure. Housing analysts note that this can help create a more balanced market for everyone: buyers in search of a competitive advantage and sellers who turn around and become buyers themselves.
Mortgage interest rates will finally be on the rise. The Mortgage Bankers Association still predicts that mortgage rates will increase to 5% by the end of 2015. Freddie Mac expects a 4.5% average in 2015. However, in 2013, economists had predicted mortgage rates to reach 5% by the end of this year. The 30-year fixed-rate mortgage has averaged below 4% in recent weeks. But with the end of the Federal Reserve’s quantitative easing, MBA believes that a short-term fund rate hike is more likely by mid-2015, which would then push interest rates up.
Rent rises will outpace home value growth. Rents likely will continue to keep rising in the new year, and many housing analysts predict that an increase in rental costs in 2015 will outpace annual home-price gains. The rental market will likely remain a “landlord’s market” in 2015, with vacancy rates expected to stay below 5% in the new year, according to NAR forecasts. That should lead to demand pushing rents up even higher and keeping them above inflation, NAR Chief Economist Lawrence Yun notes. Apartment rents are projected to increase 4% in 2014 and 4.1% in 2015. The rise in rents could push more Millennial renters to become home owners. Realtor.com® analysts predict that households headed by Millennials will drive household formations in the new year. Millennials are expected to drive two-thirds of household formations over the next five years, according to realtor.com®’s predictions. “Next year’s addition of 2.75 million jobs and increased household formation will be the two key factors driving first-time buyer sales,” realtor.com® notes.
Builders shift to building less expensive homes. In the last few years, builders have been building fewer, more expensive homes. But that trend may change in the new year, as more builders look to target less-expensive markets. New-home sales are expected to top the 500,000 mark in 2015, but in order to do that, builders may have to sell less expensive homes, housing analysts note. Earlier this year, representatives from D.R. Horton, the nation’s largest home builder, said they planned to capture more of the entry-level market with its newly launched brand called Express Homes. The properties will be priced between $120,000 and $150,000, and they will be concentrated in Texas, Georgia, and Florida. “We wouldn’t be getting into Express Homes if we didn’t think it was the next segment of the market to recover,” D.R. Horton CEO Donald Tomnitz told CNBC in April.
Foreclosures fall back to pre-recession levels. Foreclosure filings have been on the decline this year and are expected to continue their descent well into 2015. From January through November, foreclosure filings fell about 172% compared to the same period one year prior, according to RealtyTrac. “Every month so far this year, we’ve been down from a year ago,” says Daren Blomquist, vice president of RealtyTrac. The only uptick has been in foreclosure auctions, which are up 5% in November compared to one year earlier. Foreclosures will likely fall to pre-crisis levels in 2015, Blomquist predicts.”

21 Hot Housing Trends for 2015

If you are wondering what housing trends are predicted for 2015, here is a fun article that was posted on Tuesday’s Realtor®Mag on line.

“Everyone wants to be hip, and the latest trends in design can help distinguish one home from another. And it’s not all flash; many new home fads are geared to pare maintenance and energy use and deliver information faster. Here’s a look at what’s coming.

“This time of the year, we hear from just about every sector of the economy what’s expected to be popular in the coming year. Foodies with their fingers on the pulse of the restaurant industry and hot TV chefs will tell us to say goodbye to beet-and-goat cheese salad and hello roasted cauliflower, and there’s no end to the gadgets touted as the next big thing.

“In real estate, however, trends typically come slowly, often well after they appear in commercial spaces and fashion. And though they may entice buyers and sellers, remind them that trends are just that—a change in direction that may captivate, go mainstream, then disappear (though some will gain momentum and remain as classics). Which way they’ll go is hard to predict, but here are 21 trends that experts expect to draw great appeal this year:

Coral shades. A blast of a new color is often the easiest change for sellers to make, offering the biggest bang for their buck. Sherwin-Williams says Coral Reef (#6606) is 2015’s color of the year because it reflects the country’s optimism about the future. “We have a brighter outlook now that we’re out of the recession. But this isn’t a bravado color; it’s more youthful, yet still sophisticated,” says Jackie Jordan, the company’s director of color marketing. She suggests using it outside or on an accent wall. Pair it with crisp white, gray, or similar saturations of lilac, green, and violet.
Open spaces go mainstream. An open floor plan may feel like old hat, but it’s becoming a wish beyond the young hipster demographic, so you’ll increasingly see this layout in traditional condo buildings and single-family suburban homes in 2015. The reason? After the kitchen became the home’s hub, the next step was to remove all walls for greater togetherness. Design experts at Nurzia Construction Corp. recommend going a step further and adding windows to better meld indoors and outdoors.
Off-the-shelf plans. Buyers who don’t want to spend time or money for a custom house have another option. House plan companies offer myriad blueprints to modify for site, code, budget, and climate conditions, says James Roche, whose Houseplans.com firm has 40,000 choices. There are lots of companies to consider, but the best bets are ones that are updating layouts for today’s wish lists—open-plan living, multiple master suites, greater energy efficiency, and smaller footprints for downsizers (in fact, Roche says, their plans’ average now is 2,300 square feet, versus 3,500 a few years ago). Many builders will accept these outsiders’ plans, though they may charge to adapt them.
Freestanding tubs. Freestanding tubs may conjure images of Victorian-era opulence, but the newest iteration from companies like Kohler shows a cool sculptural hand. One caveat: Some may find it hard to climb in and out. These tubs complement other bathroom trends: open wall niches and single wash basins, since two people rarely use the room simultaneously.
Quartzite. While granite still appeals, quartzite is becoming the new hot contender, thanks to its reputation as a natural stone that’s virtually indestructible. It also more closely resembles the most luxe classic—marble—without the drawbacks of staining easily. Quartzite is moving ahead of last year’s favorite, quartz, which is also tough but is manmade.
Porcelain floors. If you’re going to go with imitation wood, porcelain will be your 2015 go-to. It’s less expensive and wears as well as or better than the real thing, says architect Stephen Alton. Porcelain can be found in traditional small tiles or long, linear planks. It’s also available in numerous colors and textures, including popular one-color combos with slight variations for a hint of differentiation. Good places to use this material are high-traffic rooms, hallways, and areas exposed to moisture.
Almost Jetson-ready. Prices have come down for technologies such as web-controlled security cameras and motion sensors for pets. Newer models are also easier to install and operate since many are powered by batteries, rather than requiring an electrician to rewire an entire house, says Bob Cooper at Zonoff, which offers a software platform that allows multiple smart devices to communicate with each other. “You no longer have to worry about different standards,” Cooper says.
Charging stations. With the size of electronic devices shrinking and the proliferation of Wi-Fi, demand for large desks and separate home office is waning. However, home owners still need a dedicated space for charging devices, and the most popular locations are a corner of a kitchen, entrance from the garage, and the mud room. In some two-story Lexington Homes plans, a niche is set aside on a landing everyone passes by daily.
Multiple master suites. Having two master bedroom suites, each with its own adjoining bathroom, makes a house work better for multiple generations. Such an arrangement allows grown children and aging parents to move in for long- or short-term stays, but the arrangement also welcomes out-of-town guests, according to Nurzia Construction. When both suites are located on the main level, you hit the jackpot.
Fireplaces and fire pits. The sight of a flame—real or faux—has universal appeal as a signal of warmth, romance, and togetherness. New versions on the market make this amenity more accessible with more compact design and fewer venting concerns. This year, be on the lookout for the latest iteration on this classic: chic, modern takes on the humble wood stove.
Wellness systems. Builders are now addressing environmental and health concerns with holistic solutions, such as heat recovery ventilation systems that filter air continuously and use little energy, says real estate developer Gregory Malin of Troon Pacific. Other new ways to improve healthfulness include lighting systems that utilize sunshine, swimming pools that eschew chlorine and salt by featuring a second adjacent pool with plants and gravel that cleanse water, and edible gardens starring ingredients such as curly blue kale.
Storage. The new buzzword is “specialized storage,” placed right where it’s needed. “Home owners want everything to have its place,” says designer Jennifer Adams. More home owners are increasingly willing to pare the dimensions of a second or third bedroom in order to gain a suitably sized walk-in closet in their master bedroom, Alton says. In a kitchen, it may mean a “super pantry”—a butler’s pantry on steroids with prep space, open storage, secondary appliances, and even a room for wrapping gifts. “It minimizes clutter in the main kitchen,” says architect Fred Wilson of Morgante-Wilson.
Grander garages. According to Troon Pacific, the new trends here include bringing the driveway’s material into the garage, temperature controls, sleek glass doors, specialized zones for home audiovisual controls, and a big sink or tub to wash pets. For home owners with deeper pockets, car lifts have gone residential so extra autos don’t have to be parked outside.
Keyless entry. Forget your key (again)? No big deal as builders start to switch to biometric fingerprint door locks with numerical algorithms entered in a database. Some systems permit home owners to track who entered and when, says Malin of Troon Pacific.
Water conservation. The concerns of drought-ravaged California are spreading nationwide. Home owners can now purchase rainwater harvesting tanks and cisterns, graywater systems, weather-controlled watering stations, permeable pavers, drought-tolerant plants, and no- or low-mow grasses.
Salon-style walls. Instead of displaying a few distinct pieces on a wall, the “salon style” trend features works from floor to ceiling and wall-to-wall. Think Parisian salon at the turn of the century. HGTV designer Taniya Nayak suggests using a common denominator for cohesiveness, such as the same mat, frame color, or subject matter. Before she hangs works, she spaces them four to five inches apart, starting at the center and at eye level and working outward, then up and down. She uses Frog Tape to test the layout since it doesn’t take paint off walls. Artist Francine Turk also installs works this way, but prefers testing the design on the floor like a big jigsaw puzzle.
Cool copper. First came pewter; then brass made a comeback. The 2015 “it” metal is copper, which can exude industrial warmth in large swaths or judiciously in a few backsplash tiles, hanging fixture, or pots dangling from a rack. The appeal comes from the popularity of industrial chic, which Restoration Hardware’s iconic style has helped promote, says designer Tom Segal.
Return to human scale. During the McMansion craze, kitchens got so big they almost required skates to get around. This year we’ll see a return to a more human, comfortable scale, says Mark Cutler, chief designer of design platform nousDecor. In many living or family rooms that will mean just enough space for one conversation grouping, and in kitchens one set of appliances, fewer countertops, and smaller islands.
Luxury 2.0. Getting the right amount of sleep can improve alertness, mood, and productivity, according to the National Sleep Foundation. With trendsetters such as Arianna Huffington touting the importance of sleep, there’s no doubt this particular health concern will go mainstream this year. And there’s no space better to indulge the desire for quality rest than in a bedroom, says designer Jennifer Adams. “Everyone is realizing the importance of comfort, quality sleep, and taking care of yourself,” she says. To help, Adams suggests stocking up on luxury bedding, a new mattress, comfortable pillows, and calming scents.
Shades of white kitchens. Despite all the variations in colors and textures for kitchen counters, backsplashes, cabinets, and flooring, the all-white kitchen still gets the brass ring. “Seven out of 10 of our kitchens have some form of white painted cabinetry,” says builder Peter Radzwillas. What’s different now is that all-white does not mean the same white, since variations add depth and visual appeal. White can go from stark white to creamy and beyond to pale blue-gray, says Radzwillas. He also notes that when cabinets are white, home owners can choose bigger, bolder hardware.
Outdoor living. Interest in spending time outdoors keeps mushrooming, and 2015 will hold a few new options for enhancing the space, including outdoor showers adjacent to pools and hot tubs along with better-equipped roof decks for urban dwellers. Also expect to see improvements in perks for pets, such as private dog runs and wash stations, says landscape architect Jean Garbarini of Damon Farber Associates.

“While it’s fun to be au courant with the latest trends, it’s also wise to put what’s newest in perspective….”

The ‘Naughtiest, Nicest Housing Market’ List

Sourced to RealtyTrac last week, this “Daily Real Estate News” article came from one called “The 10 Naughtiest & Nicest Housing Markets”:

“Researchers have been checking their lists, trying to find out which housing markets have been naughty or nice this year. RealtyTrac analyzed 334 U.S. cities with populations of at least 100,000 to compile lists of the nicest — those markets with some of the lowest crime rates and foreclosures, highest employment, and best school scores — and to fish out those that have been the naughtiest.

“RealtyTrac’s analysis found that in the 10 “nicest” housing markets school scores were nearly twice the national average, crime rates were one-third the national average, and the unemployment rate was at an average of 4.6%. They also found that foreclosures were lowest — 24 foreclosures per 10,000 housing units.

“The 10 cities that made RealtyTrac’s “nicest” list this year are:

Cary, N.C.
Fairfax, Va.
Pearland, Texas
Irvine, Calif.
Frisco, Texas
Sugar Land, Texas
Richardson, Texas
Katy, Texas
College Station, Texas
Fremont, Calif.

“On the other hand, in the “naughtiest” cities this year, RealtyTrac found that school scores were one-half the national average; crime rates were nearly twice the national average, and the average unemployment rate was 7.8%. Milwaukee, Detroit, and Stockton, Calif., topped RealtyTrac’s list as the “naughtiest” this year.”

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

Sanibel

CONDOS

1 new listing: Sanctuary Golf Villages I #6 2/2.5 $684K.

No price changes.

1 new sale: Sanddollar #C101 2/2 listed for $880K.

2 closed sales: Sealoft Villages #103 2/2 $519K, Sayana #103 2/2 $692.5K.

HOMES

9 new listings: 320 Palm Lake Dr 2/2 $424K, 982 Main St 3/2.5 $465K, 457 Lake Murex Cir 3/2 $475K, 9477 Peaceful Dr 3/2 $499K (our listing), 4546 Buck Key Rd 4/2 $599K, 603 N Yachtsman Dr 3/2 $688.5K, 1990 Sunrise Cir 4/3.5 $1.359M, 5743 Baltusrol Ct 3/3.5 $1.45M (our listing), 1309 Seaspray Ln 5/5 $1.898M.

2 price changes: 2010 Sunrise Cir 5/3 now $1.239M, 2969 Wulfert Rd 6/6/2 now $2.29M.

6 new sales: 1596 Bunting Ln 2/2 listed for $399.9K; 735 Donax St 3/2 listed for $479K; 778 Cardium St 3/3 listed for $499K; 5753 Pine Tree Dr 3/4 listed for $749K; 1671 Hibiscus Dr 4/3 listed for $998,899; 4265 West Gulf Dr listed for $4.395M.

3 closed sales: 701 Durion Ct 3/2 $515K, 3251 Twin Lakes Ln 3/2 $590K, 1429 Sanderling Cir 3/3.5 $1.525M.

LOTS

1 new listing: 5321 Punta Caloosa Ct $394.5K.

No price changes.

2 new sales: 2380 Wulfert Rd listed for $199K, 2403 Blue Crab Ct listed for $499K.

No closed sales.

Captiva

CONDOS

No new listings.

1 price change: Beach Villas #2322 1/1 now $549K.

1 new sale: Marina Villas #903 2/2 listed for $640K.

No closed sales.

HOMES

3 new listings: 11535 Chapin Ln 3/3 $1.549M, 11523 Wightman Ln 4/4 $2.18M, 11516 Andy Rosse Ln 6/6 $2.449M.

No price changes, new or closed sales.

LOTS

Nothing to report.

Until next Friday – when it will be 2015 – HAPPY NEW YEAR!

SanibelSusan

It’s Almost Christmas & Real Estate is Selling on Sanibel & Captiva Islands

Posted on December 19, 2014 by SanibelSusan

The island is expected to have many holiday vacationers and visitors arriving tomorrow, with even more coming the following Saturday. Weather is forecast to remain sunny and in the mid to high 70’s during the day until Christmas when a dip to the mid 60’s is expected. Perfect holiday weather!

Here are a couple of news items, followed by the action posted in the Sanibel& Captiva Multiple Listing Service over the last seven days.

SanibelSusan Realty Happenings

Island real estate activity slowed down considerably earlier this week as folks prepare for the holidays. Yesterday, we had a flurry of calls which resulted in a couple of new listings being posted soon. Thank goodness for internet advertising, as the local newspaper deadline has already passed for Christmas, so these new properties will appear in print locally in the New Year edition.

Tuesday morning SanibelSusan attended the local kick-off meeting for the 2015 Sanibel & Captiva Islands Association of Realtors® leadership team. I will chair the Association’s Grievance Committee next year. Luckily, it is one of those committees that (here on Sanibel and Captiva) is needed about as often as the Maytag repairman – hardly ever. The Grievance Committee receives ethics complaints and arbitration requests from members and the public to determine if taken as true on their face, a hearing is to be warranted.

On Wednesday morning, I also attended the requisite annual training from Florida Realtors® for all Grievance and Professional Standards committee members.

December Membership Meeting – Sanibel & Captiva Islands Association of Realtors®

Yesterday was our island Association of Realtors® general membership meeting which included a cookie swap (that was a first) and a presentation encouraging more members to get involved in 2015. I have always found that volunteering time and energy to your profession comes back in business and future success, so hopefully with the economy rebounding and subsequently our Association growing again, some industry newbies will be motivated by what they heard.

The Association’s 2014 Honor Society recipients were announced at this meeting. There were 22 Sanibel & Captiva Island Realtors® who earned the award this year. That’s my magic number, as I made it again for the 22nd year in a row.

With the next two Thursdays being holidays, the next Association of Realtors® Caravan of new listings will not be until January 8 when it’s an East-end caravan.

Bennett’s Expands Hours & Menu

Bennett’s Fresh Roast has extended its hours and menu offerings at its Sanibel shop, 1020 Periwinkle Way, including the addition of Artisan Gelato by Norman Love. Now open from 6 a.m. to 9 p.m. seven days per week, the Norman Love gelato is offered beginning at 11 a.m. daily until closing while supplies last. A variety of 12 popular and seasonal flavors is offered daily with three sizes available including Love’s popular waffle cone.

Bennett’s also now is offering table service at breakfast as well as lunch and their menu has begun featuring wild Maine blueberry pancakes and strata from 6 to 11 a.m. daily while supplies last. Strata flavors including ham, sausage, and spinach and feta will be rotated during the week. For more info, visit BennettsFreshRoast.com.

Winter Is Best Time to Sell, Study Shows

Understandably, winter is the best time for real estate sales on Sanibel & Captiva Islands. That is when the most prospective buyers are in Florida. It was a surprise, however, to read this article in “Daily Real Estate News” on Monday.

“The housing market doesn’t hibernate in the winter. Sellers who list and buyers who buy often find the winter season the most advantageous time to make a move in real estate, according to a new study by the real estate brokerage Redfin. The winter season officially takes place between Dec. 21 and March 20, and real estate professionals should be ready for a season that often brings in more focused and active sellers and buyers.

“In an update to a two-year analysis it completed last year, Redfin researchers studied nationwide home listings, sales prices, and time-on-market data from 2010 through October 2014. The study found that February is “historically the best month to list, with an average of 66 percent of homes listed then selling within 90 days,” according to Redfin’s research.

“Even in cold weather cities – such as Boston and Chicago – researchers found that home sellers were better off listing their homes in the winter than during other seasons. The winter tends to net sellers’ more than their asking price during the months of December, January, February, and March than listings from June through November. Listing during those four winter months has resulted in higher percentages of above-asking-price sales than listing during any months, other than April and May.

“Redfin researchers found that in 2012 December listings were producing the highest percentage of above-asking sales for the entire year at 17%. Researchers say the winter market is less competitive for sellers since many people tend to wait until the spring to list. The smaller inventory of active listings helps sellers get more attention from buyers on their properties. Also, many large corporations often transfer employees or hire new ones early in the year, creating opportunities for winter sellers from very motivated purchasers.

“Homes that are “priced right and show well can sell any time” of the year, says Nela Richardson, chief economist for Redfin. Winter buyers tend to be “serious buyers… Most people are not window-shopping” in December and January, like they do in the spring months, Richardson adds.

“Sellers shouldn’t worry about the holidays hampering their chances either. A 2011 study conducted by realtor.com® found that 60% of real estate professionals advise their sellers to list a home during the holidays because they believe it’s an opportune time to sell. Nearly 80% of the real estate professionals surveyed said that more serious buyers emerge during the holidays, and 61% say less competition from other properties makes it an ideal time to sell.

“As for buyers, they may find winter a good time to make a move too. Sellers often are more flexible about negotiations over prices and terms than they would in the spring, real estate professionals say.

“People get more realistic at this time of year,” particularly if their homes hadn’t sold during the summer and fall, says Mary Bayat, a broker in Washington, D.C., and chairwoman-elect of the Northern Virginia Association of REALTORS®.”

NAR Testifies on Capitol Hill

Posted Monday, on the “Real Estate Services E-Newsletter Update”:

“On December 9, the U.S. Senate Banking Subcommittee on Housing, Transportation, and Community Development held a hearing entitled, “Inequality, Opportunity, and the Housing Market.” Mabel Guzman, the 2014 National Association of Realtors® (NAR) Conventional Financing and Policy Committee chairwoman and broker for @properties in Chicago, IL, testified on behalf of NAR. In her testimony, Ms. Guzman focused on ongoing challenges and disparities in the housing market and housing finance system. Specifically, Ms. Guzman covered six main issues, which include:

(1) the national economy is impacting the supply of both credit and housing inventory;

(2) high guarantee fees and loan level pricing adjustments charged by the Government Sponsored Enterprises (GSEs) are hurting consumers;

(3) excessive Federal Housing Authority (FHA) premiums are negatively impacting housing;

(4) FHA and GSE condominium restrictions are preventing homeownership opportunities;

(5) housing policies add to lending concerns; and (6) foreclosures and short sales remain problematic for thousands of American families.”

12 Wellness Tips for the Holidays

NAR posted the below calendar from the National Safety Council on their Realtor®Mag Blog this week. Some good reminders here:

Sanibel & Captiva Multiple Listing Service Activity December 12-19

Sanibel

CONDOS

3 new listings: Gulf Beach #102 2/2 $749K, Sundial #R304 2/2 $845K, Sundial #R401 2/2 $849K (our listing – some photos below).

4 price changes: Spanish Cay #F6 1/1 now $275K, Loggerhead Cay #461 2/2 now $499K, Pointe Santo #B4 2/2 now $664K, 2400 Los Colony Rd 3/3 $1.495M.

3 new sales: Loggerhead Cay #453 2/2 listed for $459K, Sundial #Q202 2/2 listed for $694K, Island Beach Club #330E 2/2 listed for $795K.

1 closed sale: 2615 Tamarind Rd 2/2 $347K.

HOMES

2 new listings: 1774 Bunting Ln 3/2 $589K, 741 Nerita St 3/2 $699K.

3 price changes: 1076 Sand Castle Rd 2/2 now $590K, 375 East Gulf Dr 4/3 now $1.489M, 3744 West Gulf Dr 4/4 now $1.595M.

5 new sales: 702 Donax St 2/2 listed for $439K, 3001 Singing Wind Dr 3/2 listed for $449K (short sale), 589 Rabbit Rd 2/2 listed for $499K, 1520 San Carlos Bay Dr 4/3.5 listed for $1.995M. Without contingencies: 1429 Sanderling Cir 3/3.5 listed for $1.575M.

3 closed sales: 4612 Rue Belle Mer 2/2 $615K, 1901 Sanibel Bayou Rd 4/3 $750K, 5427 Osprey Ct 3/3.5 $1/159M.

LOTS

1 new listing: 5121 Sanibel Captiva Rd $227,555.

1 price change: 2263 Starfish Ln now $499K.

No new sales.

2 closed sales: 1182 Sand Castle Rd $199.9K, 1246 Sand Castle Rd $212.5K.

Captiva

CONDOS

1 new listing: Bayside Villas #5318 3/3 $625K.

No price changes.

1 new sale: Marina Villas #603 2/2 listed for $640K.

No closed sales.

HOMES

2 new listings: 1127 Longifolia Ct 4/4 $5.795M, 16697 Captiva Dr 5/4 $10.5M.

No price changes, new or closed sales.

LOTS

Nothing to report.

Until next Friday…Merry Christmas!

The December Fun Continues on Sanibel & Captiva Islands

Posted on December 12, 2014 by SanibelSusan

With the holidays fast approaching and folks scurrying to prepare, this week there likewise was a sudden flurry of real estate activity on Sanibel.

Several sales were announced at our Association of Realtors® weekly Caravan Meeting yesterday, while later in the day SanibelSusan got the listing paperwork signed on a home in The Sanctuary which will be posted as a new listing next week. At about the same time, two offers were received on two properties that we have listed. Those too are “in the works”! Season may be here early. We sure hope so!

The action posted in the Sanibel and Captiva Multiple Listing Service follow a couple of news items below. You will notice that we have a new listing on Martha’s Lane too. Below are a few photos:

Sanibel & Captiva Islands Realtors® Support Friends Who Care Toy Drive

Friends Who Care, Inc. has been assisting island residents since 1983, providing for children and adults in crisis situations, and working anonymously through information from local churches and schools. Again this year, the islands Association of Realtors® joined the effort by donating, collecting, and buying toys/gift cards which were presented to this non-profit at our meeting yesterday. The items will be sorted, wrapped, and ultimately delivered on December 23 to those in need by The Sanibel-Captiva Kiwanis Club Santa Run. Big thank you to teammate Elise’s kiddos, Payton and Ryan, who did the toy shopping for SanibelSusan’s donations this year!

Real Estate’s Most Loyal Age Group

My experience shows that this is the trend on Sanibel and Captiva too. This is what “Bloomberg Businessweek” had to say on Monday about real estate’s most loyal age group:

“Americans age 65 and over are holding onto home ownership instead of downsizing into rentals or moving to senior centers, Bloomberg Businessweek reports. Indeed, the largest jump in buyers this year was among people between the ages of 65 and 74. This age segment increased to 13% of all buyers from 10% a year earlier, according to National Association of REALTORS® data.

“”They want to remain as home owners now because it represents stability, so they don’t have to deal with generating fluctuating payments for rent,” says Chris Mayer, a real estate professor at Columbia University Business School in New York. Even during the housing crisis, the home ownership rate for Americans 65 and over stayed around 80% while it dropped for every other age group, according to Census Bureau data. Since then, Americans under 35 have seen the largest decline in home ownership, falling to 36% from 48%, Census data shows.

“In 1982, the home ownership rate for every age group was higher than it was in 2013 — except for those 65 and over. “This group has been a ballast for the market,” says Chris Herbert, acting managing director at Harvard’s Joint Center for Housing Studies. “If not for them, we would have seen a much lower home ownership rate overall, more homes on the market, and more weakness.”

“Seniors usually have less mortgage debt than younger home owners, greater wealth than they had four years ago, and longer lifespans than previous generations, Bloomberg Businessweek reports. For those aged 65 to 74, their median net worth rose 5% to $232,100, which is the largest gain for any age group from 2010 to 2013, according to the Federal Reserve’s Survey of Consumer Finances. “They have a quadruple bonus: They benefited from real estate, the best in equity and bond returns, plus higher GDP per capita growth well before the crisis during the 1980s and 1990s,” says Amlan Roy, head of global demographics and pension research for Credit Suisse Group AG’s investment bank in London. “It’s unlikely to repeat.”

“While older Americans are staying in real estate, they are carrying more mortgage debt than previous generations, according to the Consumer Financial Protection Bureau. In 2010, about 40% of those over 65 were still making house payments compared to more than 70% of those 50 to 64, according to a report earlier this year by the Joint Center for Housing Studies.”

Older Americans are indeed a pillar of the housing market!

Six Features in Demand Among Luxury Buyers

In Refin’s blog this week, an article says:

“Luxury sales have been soaring in recent months, outpacing the rest of the housing market. Deals on existing homes priced above $1 million climbed more than 16% in October compared to a year ago, according to National Association of REALTORS® housing data. The increase was bigger than that of any other price segment.

“So what home features are these luxury buyers on the hunt for in their million-dollar–plus homes? The real estate brokerage Redfin recently uncovered some trends in home features and interior designs by looking at what’s in demand among their luxury clients as well as what’s trending on luxury listings. Here are some of the luxury home design trends they noticed driving 2014:

Luxury showers: Forget the Jacuzzi tub. The luxury buyer wants a luxurious shower. “Since most people take more showers than baths, they want to have a stand-alone shower with multiple shower heads,” notes Charlie Baker, a Redfin real estate professional in San Diego.
Fire pits by pools: Fire pits and gas fireplaces beside a pool are gaining in popularity, says Roseann Cossman, a Redfin real estate professional in Phoenix. “One quick way to warm up after a dip in the pool is to curl up next to a fire, and now that fire is just steps away,” Crossman says.
Tasting rooms: Wine cellars are no longer a dark place in a basement or a closet. Home owners are placing more in living areas to host tastings with friends.
White kitchen cabinets: High-end kitchens with cabinets in white, gray, or black with matching or contrasting countertops are gaining in popularity among the luxury market, notes Anna Schwoerer, a Redfin real estate professional in Virginia. Meanwhile, natural-colored wood cabinets are on their way out, she says.
Quartz countertops: Luxury properties are showing more quartz or sandstone in countertops and making granite countertops look more outdated, says Jordan Clarke, a Redfin real estate professional in San Diego. “Quartz comes with a few benefits over granite; it is not as porous and therefore requires less maintenance, it is less prone to staining, and it is better able to withstand abuses during its lifetime,” Clarke says.
Grand powder rooms: The powder room is getting a big makeover. These half-baths are getting more attention and fancier with elaborate mirrors, sinks, and lighting fixtures.”

Island Events & Festivities Continue

A news release from the City today included info on a couple of special events this weekend.

Here is the scoop on those events and some others occurring this weekend on Sanibel and Captiva.

Today (12/12)

6-9 p.m. Grand opening of the South Seas Holiday Stroll

Tomorrow (12/13)

10 a.m.-3 p.m. Art on the Veranda at Bailey’s Center

4:30 p.m. Junkanoo Parade on Captiva in the village

5:30-7:30 p.m. Captiva Lighted boat parade, view from McCarthy’s, Jensens’, Green Flash, ‘Tween Waters

6-9 p.m. South Seas Holiday Stroll

8 p.m. Boat parade after-party at Captiva’s Keylime Bistro

Sunday (12/14)

8.a.m.-1 p.m. Sanibel Island Farmers Market on City Hall Grounds

6-7 p.m. Captiva Community Carol Sing at Chapel by the Sea

BIG ARTS Community Chorus Holiday Concert

It was great to see teammates, colleagues, client, and friends in the audience at our BIG ARTS Community Chorus Holiday Concert on Tuesday night.

If you like the “12 Days of Christmas” song, below is the final verse of the rendition that we sang during the concert. Words were written by chorus-mate, Mike Bugler. It’s fun!

‘Twas the twelfth day of Christmas,

On Sanibel, by the sea

I saw Twelve Dolphins Dancing

Eleven Lighthouse Lookers

Ten Pelicans Plunging

Nine No-See-Ump Swatters

Eight Tourists Tanning

Seven Shellers Shelling

Six Billy’s Bikers

Five Man-a-tees

Four Wading Birds

Three Fishing Men

Two Turtle Tracks

And a Gator in the Sanc-tu-ary!

Chorus-mate, Dick Brown, Dad to author Dan Brown, also composed his own verbiage for the familiar Irving Berlin’s “White Christmas”.

With a few of the verses changed for some soloists dressed in different attire, it drew a few laughs from the audience too.

Soloist (a Sanibel gal):

The sun is shining, the sea is blue,

The orange & palm trees sway.

There’s never been such a day

In Sanibel U.S.A.

But it’s December the twenty-fourth,

And I’m longing to be up north.

Refrain:

I’m dreaming of a white Christmas

Just like the ones I used to know,

Where the treetops glisten

And children listen

To hear, sleigh bells in the snow.

I’m dreaming of a white Christmas

With ev’ry Christmas card I write.

May your days be merry and bright,

And may all your Christmases be white.

Soloist (in heavy winter clothing):

I’ve had it with this white Christmas,

I’ve had enough of all this snow.

I’m so tired of my wool coat,

My runny nose & sore throat,

And spreading flu ‘neath mistletoe.

Refrain:

We really love our grandchildren

Although two weeks with them’s a lot.

Oh, to be on Captiva, on a yacht,

Where all our Christmases are hot!

Soloist (island couple in beach attire):

There’s nothing like a green Christmas,

Not like the ones we used to know.

Instead of ice-chipping,

We’ll go skinny-dipping,

And dream of never shov’ling snow!

Refrain:

We’re dreaming of a green Christmas,

With sunny skies & a warm beach scene.

May your days be merry and serene

And may all your Christmases be green!

I’m dreaming of a warm New Year

With all my friends on Sanibel

Where I’ll walk the beach

And maybe reach

To find a rare junonia shell.

I’m dreaming of a warm New Year

With all my friends so dear & swell,

Where my soul is happy, & I’m well,

With all my friends on Sanibel.

Stinton: News Corp Deal Is a ‘Global Play’

This article posted on-line yesterday on “Daily Real Estate News” elaborates on the recent acquisition of Realtor®.com by News Corp:

“National Association of Realtors® “NAR CEO Dale Stinton talked about the global opportunities that could come out of News Corp’s acquisition of Move Inc. in a wide-ranging interview he gave on Real Estate Coaching Radio earlier this week.

“”What’s missing [when people talk about the News Corp acquisition] is that this is going to be a global play,” Stinton told radio host Tim Harris. “This is the first time you’ve seen the largest trade association in the world, combined with the No. 3 portal in the space, matched up with a platinum-level media company that knows how to deliver messaging and branding to the public. That triumvirate is a very strong, unique basis for approaching the consumer.”

“One thing people often forget, Stinton said, is that NAR has global reach, too—relationships with more than 80 cooperating real estate associations around the world. While Stinton said it was too difficult to predict exactly what changes News Corp would make, creating a much better consumer experience and getting realtor.com® back into the No. 1 position are top priorities.

“Stinton called the News Corp acquisition one of the milestone events during his 31-year career with the association. Others included the creation of realtor.com® during the formative years of the Internet, the decision to marshal REALTOR® Party resources to advocate on the state and local level, and NAR’s eight-year, ultimately successful, campaign to prevent banks from owning real estate companies. “Imagine what the [financial] crisis would have looked like if banks had been in real estate,” he said.

Among other topics Stinton touched on were the association’s efforts to set REALTORS® apart from non-member licensees in consumers’ minds and increasing the availability of safe, affordable mortgage credit.”

Loan Defaults Plunge to Pre-Recession Levels

This is good news, also posted on “Daily Real Estate News”, on Wednesday:

“More home owners are keeping up with their mortgage payments. The nationwide mortgage loan delinquency rate — the number of borrowers 60 or more days past due on their mortgage — is projected to drop to 3.12% by the end of this year. By 2015, TransUnion researchers predict, the delinquency rate will reach 2.51%, the lowest level since reaching 2.61% in the third quarter of 2007, prior to the Great Recession.

“Mortgage delinquencies peaked in the first quarter of 2010 at 6.93%. Since then, the delinquency rate has steadily been dropping.

““We expect the national mortgage loan delinquency rate to continue its decline throughout 2015, marking four consecutive years of quarterly decreases,” says Steve Chaouki, head of financial services for TransUnion. “We anticipate interest rates to remain relatively low next year and unemployment rates to continue their decline, both of which should help fuel home sales and improve consumers’ ability to pay.

“Foreclosures are also expected to continue to funnel through the legal system in 2015, which will reduce delinquencies that have been lingering for some time,” he continues. “All of these factors will contribute to a further decline in mortgage delinquencies.”

“Nevertheless, TransUnion researchers project that while delinquencies will likely fall to precession levels, they likely will remain above the historic norm of 1.5 to 2%. Delinquencies had started to rise prior to the recession.

“TransUnion predicts that 33 states will have delinquency rates lower than 2.5% by the end of next year.

“The largest mortgage delinquency rate drops likely will occur in Nevada (dropping from 4.65% to 2.97%); Georgia (falling from 3.31% to 1.92%); Maryland (falling from 4.17% to 2.83%); and Illinois (down from 3.37% to 2.17%), according to TransUnion’s report.

“On the other hand, delinquency increases are projected to occur in only three states: Idaho (rising from 2.16% to 2.44%); Massachusetts (inching up from 3.18% to 3.265) and North Dakota (up from 0.97% to 1.02%).”

Sanibel & Captiva Islands Multiple Listing Service Activity December 5-12

Sanibel

CONDOS

3 new listings: Seashells #27 2/2 $323K, Sanibel Arms West #B5 2/2 $499K, Loggerhead Cay #202 2/2 $559.9K.

2 price changes: Colonnades #44 now $189.5K, Lighthouse Point #219 2/2 now $449.8K.

4 new sales: Spanish Cay #A6 1/1 listed for $259.7K, Sanibel Surfside #133 2/2 listed for $849K, Pointe Santo #A2 2/2 listed for $849K, Wedgewood #204 1/1 listed for $2,225,555.

4 closed sales: Colonnades #1 1/1 $185K, Sundial #C307 1/1 $305K, Sundial #I203 1/1 $359K, Sandalfoot #5A3 2/2 $820K.

HOMES

8 new listings: 744 Martha’s Ln 2/2 $479K (our listing), 963 Sand Castle Rd 3/2 $599.9K, 1024 S Yachtsman Dr 3/2 duplex $649K, 9012 Mockingbird Dr 3/2 $700K, 5406 Osprey Ct 3/2 $779K, 4037 Coquina Dr 3/3 $848K, 1429 Sanderling Cir 3/3.5 $1.575M, 2984 Wulfert Rd 4/3 $2.2M.

4 price changes: 1938 Roseate Ln 3/2 now $349K, 1452 Sandpiper Cir 2/2 half-duplex now $359K, 3001 Singing Wind Dr 3/2 now $449K (short sale), 6111 SanibelCaptiva Rd 5/4/3 now $18.95M.

6 new sales: 2407 Shop Rd 2/1 listed for $339K; 4599 Brainard Bayou 3/2/2 listed for $529K; 1674 Bunting Ln 3/2 listed for $549K, 490 Christine Rd 2/2 listed for $569,555; 1800 Woodring Rd 2/2 listed for $1.349M, 2302 Wulfert Rd 4/5 listed for $1.449M.

3 closed sales: 705 Oliva St 3/2 $747.5K, 1339 Par View Dr 3/2.5 $950K, 784 Birdie View Pt 4/4 $1.615M.

LOTS

1 new listing: Pine Ave $200K.

4 price changes: 9239 Dimmick Dr now $149K, 1299 Par View Dr now $229K, 1336 Eagle Run Dr now $245K, 6486 Pine Ave now $379.9K (foreclosure).

3 new sales: 864 Birdie View Pt listed for $349.5K, 860 Birdie View Pt listed for $389K, 1540 San Carlos Bay Dr listed for $1.195M.

No closed sales.

Captiva

CONDOS

Nothing to report.
HOMES

1 new listing: 11523 Andy Rosse Ln 5/5.5 $2.795M.

No price changes, new or closed sales.
LOTS

1 new listing: 11545 Wightman Ln $1.345M.

No price changes, new or closed sales.

Until next Friday, happy weekend wishes to all,

Susan Andrews, aka SanibelSusan

It’s Luminary Weekend 2014 on Sanibel & Captiva Islands

Posted on December 5, 2014 by SanibelSusan

SanibelSusan is happy to report good attendance at the local Association of Realtors® Caravan meeting yesterday. Not many sales or price reductions were announced, but the strong turnout shows that sales associates are ready for “season”. My team also had plenty of visitors at Somerset at the Reef where Realtors® and neighbors got to view our new listing there. Here are a couple of photos of the fabulous view from that condo!

The week’s report of the action posted in the Sanibel and Captiva Multiple Listing Service follows a couple of news items below.

Christmas Festivities Beginning

It is “luminary weekend” on Sanibel and Captiva so the islands are expecting a spurt of activity with folks here to enjoy the festivities today on Sanibel and tomorrow on Captiva. All week decorations have been going up and businesses have been preparing for the many events that begin this afternoon. Here is a quick summary of what is ahead over upcoming two weekends:

Today (12/5)

3-5 p.m. Homesteaders’ Christmas Open House at Sanibel Historical Village

5:30 to 9 p.m. Sanibel Luminary, includes a flash mob inside Baileys at 5:30 p.m. Trolley stops at east-end (Lighthouse Cafe area), Jerry’s Center, Tahitian Gardens, Periwinkle Place, School House Theater lot, The Village Shops, Palm Ridge Rd, Olde Sanibel Shoppes, & Bailey’s Center

5-6:30 p.m. Free opera concert on the beach at ‘Tween Waters

Sat (12/6)

3:30 p.m. Decorated golf cart parade at 3:30 p.m., starts at South Seas

5:30 to 9 p.m. Captiva Luminary. Trolley stops at Chadwick’s Square, Bubble Room, Andy Rosse Ln/McCarthy’s Marina, Green Flash, & ‘Tween Waters

Fri (12/12)

5:15 p.m. Jensens’ Mullet March parade, salute to veterans, starts at Jensens’

Sat (12/13)

4:30 p.m. Junkanoo Parade on Captiva in the village

5:30-7:30 p.m. Lighted boat parade, view from McCarthy’s, Jensens’, Green Flash, ‘Tween Waters

8 p.m. Boat parade after-party at Keylime Bistro

Christmas Bird Count

Sanibel-Captiva Audubon will hold its annual Christmas Bird Count on Saturday, Dec 12. The results will go to the National Audubon Society to be included in the 115th National Christmas Bird Count which began on Christmas Day in 1900. More than 50,000 observers participate each year in this census of early-winter bird populations. Volunteers are needed (birding skills are desirable, but not necessary). Call 239-246-1054 to volunteer.

The Luxury Market’s Achilles Heel

A “Daily Real Estate News” article posted yesterday sources “Sales of Million-Dollar-Plus Homes Growing, But Who’s Buying Is Shifting,” Redfin (Dec. 3, 2014)”

“Million-dollar homes are selling faster than other types of homes, but the typical luxury buyer is changing. “Markets that are most dependent on international demand are seeing a steady and dramatic decline in sales of million-dollar-plus homes,” according to a new report by Redfin. “Meanwhile, sales of expensive homes continue to rise at a steady pace in cities where those sales rely less on investors, both foreign and domestic.”

“As international investments wane, other home buyers are courting high-end real estate markets. Metros such as Houston with strong, diverse job markets, most notably in the energy and technology fields, are seeing a big spike in demand for luxury properties. Houston saw a 42% increase since last year in sales of homes costing $1 million or more, Redfin reports.

“Luxury markets that have traditionally been driven by high international interest remain strong, but year-over-year growth in home sales for $1 million and more has decreased, according to Redfin’s report. Redfin points to California markets such as Los Angeles, Orange County, and Riverside-San Bernardino; Florida markets such as Miami, Orlando, and Fort Lauderdale; and Las Vegas as having seen high-end sales go from 46% to 5% in the past year due to the decrease in foreign buyers. “This sector of the market, particularly in the places that have typically had strong foreign interest, will need traditional [and well-heeled] buyers to offset disappearing demand from international investors,” according to Redfin’s report.”

5 Ways to Keep Negotiations on Track

Here’s some good advice from RISMedia on Dec 1, 2014:

“There are a lot of things that could sink a deal, but during negotiations, there are several factors that are important to keep it from running off course. Jose Perez of real estate services firm PCMS Consulting lists five things that come into play during a successful negotiation.

Home buyers and sellers should never negotiate directly.
Try to minimize any surprises. Spelling out all of the factors involved in the transaction as early as possible can help get the ball rolling smoothly.
Each party should be able to back up their position with logic and facts. Perez says there should be no late-game requests “just because.”
Transparency is critical because it will avoid distrust and stalled deals.
Don’t let egos get in the way of a deal closing. “When you bring your ego to the table, you’re negotiating against yourself,” Perez says.”

1 in 5 Markets Developing Housing Bubble?

Any mention of the term “housing bubble” catches my eye, so it was somewhat with surprise that I read the following article sourced to RealtyTrac:

One in five housing markets has exceeded their historical affordability norms and may be showing early signs of a housing bubble. RealtyTrac analyzed 475 counties and looked for three early warning signs of a possible housing bubble:

If a market was less affordable in October 2014 than it was during the 2005-to-2008 housing bubble.
If a market was less affordable in October 2014 than its historical affordability average since January 2000.
If a market had a rising foreclosure rate on loans originated in 2014 compared to loans originated in 2013.

“”Affordability and foreclosure rates by loan vintage are two key metrics that will help consumers, investors, institutions, and policy makers identify if a housing market is at risk for another price bubble,” says Daren Blomquist, vice president at RealtyTrac. “While 99% of markets have not returned to the irrational affordability levels during the previous housing bubble, one in five markets has now exceeded their historical affordability norms, which is a strong sign that either a new home-price bubble is forming in those markets or that home-price appreciation will soon plateau until incomes can catch up.”

“RealtyTrac found that 21% of the counties analyzed were less affordable than their historical affordability averages. Some of those counties included: Los Angeles County, Calif.; Harris County, Texas (Houston metro area); Kings County, N.Y. (Brooklyn); Dallas County, Texas; Bexar County, Texas (San Antonio metro area); Alameda County, Calif. (San Francisco metro area); Middlesex County, Mass. (Boston area); Oakland County, Mich. (Detroit area); and Travis County, Texas (Austin area).

“RealtyTrac’s analysis also found that 12% of the 475 counties had higher median prices than the peak reached during the 2005-to-2008 housing bubble. Topping the list were Kings County, N.Y. (Brooklyn); New York County, N.Y. (Manhattan); Travis County, Texas (Austin); Honolulu County, Hawaii; Fulton County, Ga. (Atlanta); Mecklenburg County, N.C. (Charlotte); and Erie County, N.Y. (Buffalo).”

REALTORS® Expect Modest Price Growth in Next 12 Months

If you missed the map and article about expected real estate price growth by state that was posted in “Economist Commentaries” on Dec 1 (it was on the news a lot), I will post the map on my blog later today. Here is the verbiage:

“With rising inventory and modest expectations of demand growth, REALTORS® responding to the October 2014 survey expected home prices to increase modestly in the next 12 months, according to data gathered from the October 2014 REALTORS® Confidence Index Survey: http://www.realtor.org/reports/realtors-confidence-index [1]. Local conditions vary with expectations anchored on factors such as the level of inventory, the state of the local job market, and credit conditions.

“The median expected price increase is about 3%. The map shows the median expected price change in the next 12 months based on the August – October 2014 surveys [2]. No state had a median expected price growth above 5%. States with the most upbeat price expectations (orange) include California, Washington, North Dakota, Texas, Florida, Georgia, the District of Columbia, and Massachusetts–states with strong housing markets, job growth, and economies.

[1] The median expected price change is the value such that 50% of respondents expect prices to change above this value and 50% of respondents expect prices to change below this value. A median expected price change is computed for each state based on the respondents for that state. The graph shows the range of these state median expected price change. To increase sample size, the data is averaged from the last three survey months.

[2] In generating the median price expectation at the state level, we use data for the last three surveys to have close to 30 observations. Small states such as AK, ND, SD, MT, VT, WY, WV, DE, and the D.C. may have less than 30 observations.”

Sanibel & Captiva Islands Multiple Listing Service Activity Nov 28-Dec 5

Sanibel

CONDOS

2 new listings: Tennisplace #B23 2/1.5 $310K, Sundial #A305 2/2 $825K.

3 price changes: Colonnades #44 1/1 now $193K, Captains Walk #A2 1/1 now $245.9K, Seascape #104 3/3 now $2.195M.

2 new sales: Seashells #33 2/2 listed for $299K (short sale), Loggerhead Cay #322 2/2 listed for $519K.

3 closed sales: Seashells #38 2/2 $279K, Kimball Lodge #304 2/2 $430K, Sandalfoot #4D2 2/2 $580K (our buyer).

HOMES

12 new listings: 938 Palm St 3/2 $425K; 1717 Sand Pebble Way 3/2 $499K; 220 Palm Lake Dr 3/3 $599,999; 1075 Blue Heron Dr 3/2 $629K; 728 Windlass Way 3/2 $649K; 1347 Jamaica Dr 2/2 $679.5K; 3968 Coquina Dr 3/2 $699K; 8999 Mockingbird Dr 3/2 $775K; 1258 Par View Dr 3/2 $789K; 2388 Wulfert Rd 3/4 $1.148M; 390Old Trail Rd 4/4.5 $1.978M; 960 Whelk Dr 3/3 $2.299M.

6 price changes: 828 Rabbit Rd 2/1 now $409K, 1063 Blue Heron Dr 3/2 now $510K, 2596 Roosevelt Pl 3/2 now $739K, 251 Daniel Dr 3/2 now $809K, 857 Birdie View Pt 3/2.5 now $995K, 1800 Woodring Rd 1.349M.

3 new sales: 548 Chert Ct 3/2 listed for $585K, 1854 Farm Trl 3/2 listed for $599K, 1710 Middle Gulf Dr 3/2 listed for $699K.

4 closed sales: 4606 Brainard Bayou Rd 2/1 $350K, 1238 Par View Dr 3/3 $782.5K, 1329 Eagle Run Dr 3/2.5 $765K, 3537 West GUlf Dr 3/3 $3.2M.

LOTS

No new listings, price changes, or new sales.

1 closed sale: 3338 West Gulf Dr $360K.

Captiva

CONDOS

1 new listing: Bayside Villas #4202 1/2 $320K.

1 price change: Seabreeze #1253 3/3 now $1.569M.

No new sales.

2 closed sales: Bayside Villas #4212 1/2 $257.5K, Beach Villas #2511 2/2 $545K.

HOMES

2 new listings: 11537 Andy Rosse Ln 4/4 $2.345M, 15172 Wiles Dr 5/2 $7M.

No price changes, new or closed sales.

LOTS

Nothing to report.

I hope to see you on the Luminary Trail…Susan

Thankfulness Abounds as the Sun Shines Brightly on Sanibel & Captiva Islands

Posted on November 28, 2014 by SanibelSusan

It’s just SanibelSusan at the office today following our chilliest morning of the season yet – 48 degrees F this morning, though it now has warmed up to 64. From the forecast, it looks like this will be our last cold day for a while. Temperatures are expected to get back into the high 70’s/low 80’s before the weekend ends, and continue into next week. We probably will be wearing shorts again by island luminary nights next weekend, December 5 and 6.

Thanksgiving Day on the island was clear and cool. Lots of families are here vacationing. It’s a great start for the Master Arts & Crafts Fair which began today at The Community House across the street from Sanibel Square. This usually is one of their most attended events of the year, so The SanibelSusan Team is hopeful for some walk-in traffic.

The BIG ARTS Community Chorus sings two sets there tomorrow (Saturday) morning and then sings again tomorrow night at the South Seas Plantation tree lighting – all good practice for our Holiday Concert which is Tuesday, December 9 at BIG ARTS Schein Performance Hall. Tickets are going fast!

Below are a couple of real estate news articles followed by the activity posted in the Sanibel & Captiva Islands Multiple Listing Service over the past seven days.

5 Reasons Housing Markets Are Thankful

Here is SanibelSusan’s 2-cents worth on an article posted Wednesday on “Realtor® Magazine” on line:

“The housing market has seen plenty of challenges the last few years, but could brighter days be ahead? Based on recent housing reports, some markets are reporting a rosier picture now than for the first half of the year — and growing optimism heading into next year for a lasting turnaround.

“Reason for Good Cheer? Here are five market gauges that many in the real estate industry are thankful for this holiday season:

“1. Mortgage rates are still low. Home buyers can take advantage of borrowing costs that remain near historical lows. Last week, the 30-year fixed-rate mortgage averaged 3.99% nationwide, marking the sixth consecutive week of averages near 4%. In October, the 30-year fixed-rate mortgage reached its lowest average of the year at 3.97%. “If you are planning to buy a home in the next year, it’s better to do it sooner rather than later,” Frank Nothaft, Freddie Mac’s chief economist,…Still, many economists aren’t expecting the rate surge in the new year to be quite as drastic as previously seen. Fannie Mae recently revised its forecast for 2015, expecting low mortgage rates to stick around longer into the year. Fannie Mae now projects rates will average 4.3% next year, a drop of about two-tenths of percentage points from its forecast earlier in the year.”

Susan says: Most island sales continue to be “cash”, but the consumer confidence generated by the low interest rates definitely helps the market on Sanibel and Captiva. For those buyers looking to finance, the good times continue. The time is right for a real estate loan!

“2. Home sales have been inching up. In many markets, more sales are being reported. Existing-home sales in October were above year-over-year levels for the first time in 12 months, according to the National Association of REALTORS®’ latest report. Sales are at their highest annual pace since September 2013. The job market may be a big contributor behind that increase, says Lawrence Yun, NAR’s chief economist. “This bodes well for solid demand to close out the year and the likelihood of additional months of year-over-year sales increases,” Yun said in a recent statement.”

On Sanibel and Captiva, home sales also continue to improve. Last year, 197 homes sold on Sanibel. Year-to-date, there have been 187 closings with another 29 Sanibel homes under contract = 216 which is the first time the number of Sanibel homes sold has passed 200 since 2005 when 266 homes sold.

On Captiva, 18 homes sold last year, compared to 23 closed sales to-date there, with another home under contract = 24 home sales or about the same as years 2011 and 2012.

“3. Buyers are getting more choices. Home buyers are finally getting more selection in homes for-sale. Unsold inventory is 5.2% higher than a year ago, representing a 5.1% supply at the current sales pace. “The growth in housing supply this year will likely prevent the drastic sales slowdown and coinciding spike in home prices we saw last winter due to low inventory,” Yun says. “However, more housing starts are needed to increase supply, meet current demand and keep price growth in check.” New-home construction is gradually picking up in the latter half of the year, also bringing more inventory into many markets. Single-family housing starts rose 4.2% month-over-month in October to 696,000 units, reaching the highest level since November 2013, the U.S. Department of Housing and Urban Development and U.S. Census Bureau reported. What’s more, the future looks bright that the increase will stick around for the time-being: Building permits — a gauge for future building activity — increased 4.8% in October to an annual rate of 1.08 million units. “The rise in single-family starts is more proof that the economy is firming and consumer confidence is growing,” says Kevin Kelly, chairman of the National Association of Home Builders. ‘We expect continued momentum into next year.””

Here on the islands, where build-out is near, we do not have that same increase in inventory and new product. With just 142 Sanibel homes currently for sale (and 44 on Captiva), island Realtors® just hope there is have enough product to sell this winter. Condominium inventory is low too, with just 122 Sanibel condos for sale (37 on Captiva), compared to the 168 Sanibel condos that have sold this year (23 on Captiva). The island market continues to rebound!

“4. Foreclosures are falling. In October, distressed home sales dropped into the single digits for the third month this year. Distressed sales, which include foreclosures and short sales, fell to 9% in October, compared to 14% a year ago, NAR reports. Foreclosures and short sales typically sell at a discount — 15% or 10% below market value, respectively — and can place downward pressure on overall home prices in an area. The decrease in foreclosures is helping more home values to stabilize in communities.

Still, while distressed sales are trending downward overall, several pockets across the country are still battling elevated levels, particularly in judicial states like Florida, Maryland, and New York, NAR President Chris Polychron recently said in a statement.”

Thankfully, the islands did not have many foreclosures, but for those Realtors® who sell off-island throughout the other communities in Lee County. They agree.

“5. Home prices are stabilizing. The median existing-home price for all housing types in October was $208,300 — 5.5% above October 2013, according to NAR’s latest report. It marks the 32nd consecutive month of year-over-year price gains. The double-digit gains in prices from last year have mostly faded away. “Many of the fastest-appreciating real estate markets last year have now settled into a more sustainable pattern of single-digit appreciation,” Daren Blomquist, vice president of RealtyTrac, a real estate data provider, said at the end of October. Still, the gains in home prices over the past year have made home owners feel more optimistic about selling. Forty-four percent of about 1,000 home owners surveyed in Fannie Mae’s October 2014 National Housing Survey said now is a good time to sell, marking an all-time survey high.”

Yes, island prices are stabilizing too. The average Sanibel home price has been over $800K since 2011, while condo prices did not really jump until this year. 2014 Sanibel average condo price = $666,072. That average has not been over $600K since 2010.

On Captiva where the market is smaller, the averages are not as discerning; but even so, the average Captiva home price was $2.8M this year, compared to $2.5M last year, and $1.5M in 2012. Average Captiva condo sale price this year is $646,350, not much different from last year, $659,185.

Luxury Sales Outshine Rest of the Market

CNBC posted an article last week that was reposted in the “Daily Real News” on Friday. It relates to our island market:

“Sales of million-dollar homes are soaring: Deals on existing homes priced above $1 million climbed more than 16% in October compared to a year ago, according to National Association of REALTORS® housing data. The increase was bigger than any other price segment. “There is little volatility in the stock market. It is whoppingly higher, so people in the top 10% of wealth are really feeling confident now,” says Lawrence Yun, NAR’s chief economist.

“Sales are also rebounding for listings in the $750,000 to $1 million range, up 12% year-over-year according to NAR. Meanwhile, sales of homes priced under $100,000 dropped 6% year-over-year in October. The largest growth in luxury markets were mostly centered in Miami; Los Angeles; Riverside, Calif.; and New York. International buyers—particularly those from China, Canada, Europe, Russia, and South America—are continuing to help drive up the U.S. luxury market.

“Other markets that are often considered “affordable” are seeing bigger pockets of luxury taking hold too. For example, in Houston, the median home price has risen above the national average and landed No. 6 on a survey by the real estate brokerage Redfin of markets with the most million-dollar sales, beating out Boston, Washington, D.C., and Seattle. “It’s the new economy of the energy boom and other industries moving inland and taking dollars with them,” says Nela Richardson, chief economist for Redfin. “Our agents are going crazy in Houston.””

Check How Mobile-Friendly Your Website Is

An article this week in “Daily Real Estate News” says that Google soon will be labeling websites “mobile-friendly”. Naturally, the first thing I did after reading the article was to take the Google on-line test to see how www.SanibelSusan.com fares. The answer is: “Awesome! This page is mobile-friendly.”

The article says: “The purpose of the new label is to help prevent frustration among mobile searchers, who are growing tired of visiting sites with too-small text, difficult-to-tap links, or sites that have to be scrolled sideways to view all the content. Google started adding the “mobile-friendly” label to its mobile search results last week. To earn the label, Google says a site must meet the following criteria:

Software that is not easily viewed on mobile devices (such as Flash) is avoided.
The text is readable without the visitor having to zoom in.
The site automatically sizes the content to fit the screen, so that visitors don’t have to scroll across or zoom to view the page’s contents.
Links are far enough apart so visitors can tap them with ease.

“To find out how mobile-friendly your site is, Google offers a Mobile-Friendly Test. You can plug in your URL and you’ll receive a report on how mobile-friendly the page is. The criteria could later be used to determine where your site falls in search results.

““We see these labels as a first step in helping mobile users to have a better mobile web experience,” Google writes in a statement announcing the new labels. “We are also experimenting with using the mobile-friendly criteria as a ranking signal.””

RSPS (Resort and 2nd-Home Property Specialist)

I got a phone call today with a referral from a fellow RSPS. That is a Realtor® who also holds the Resort & 2nd-Home Property Specialist designation. Though I teach the segment about this same subject during our local Association of Realtors® island designation class series, it has always surprised me that only six local Realtors® (yours truly included) have taken the time to earn this national designation. I know for a fact that many island property owners also own property in other resort areas like the mountains of Aspen, Steamboat Springs, New England’s White Mountains, and the Carolinas; the beaches of Cape Cod and Hawaii, plus the Pacific/Atlantic seaboards, and the Great Lake areas. So, I hope those referrals keep coming, the islands are a great fit for buyers looking to invest in the resort and 2nd-home market.

Sanibel & Captiva Islands Multiple Listing Service Activity November 21-28

Sanibel

CONDOS

4 new listings: Colonnades #11 1/1 $195K, Island Beach Club #330E 3/2.5 $795K, Sand Pointe #214 2/2 $749K, Somerset #B101 3/2.5 $2.2M (our listing). (Below are a few more photos of this new listing at Somerset at The Reef. The streaming video with showing the fabulous beach/Gulf of Mexico views and waterside enclosed balcony is being prepared later today. It will be posted soon!)

1 price change: Seashells #15 2/2 now $324.9K.

3 new sales: Sundial #J203 1/1 listed for $425K, Sundial #G101 2/2 listed for $445K. Compass Point #101 3/2 listed for $1.169M.

3 closed sales: Ibis at The Sanctuary Ibis #301 2/2 $421K, Nutmeg Village #107 #2/2 $615K, Plantation Village #B321 3/3 $2.075M.

HOMES

6 new listings: 1712/1714 Sand Pebble Way 4/2 duplex $399K; 999 Dixie Beach Blvd 3/2 $599K; 9032 Mockingbird Dr 3/2 $649,946; 1490 Middle Gulf Dr 3/4.5 $1.859M; 1137 Golden Olive Ct 5/3.5 $2.275M; 1204 Isabel Dr 3/3.5 $4.1M.

4 price changes: 564 Hideaway Ct 3/2 now $589K, 1717 Windward Way 3/2 now $649K, 1528 Angel Dr 3/2 now $849K, 1272 Isabel Dr 3/3.5 now $3.895M.

8 new sales: 1644 Bunting Ln 3/3 listed for $495K, 660 Durion Ct 2/2 listed for $549K, 1477 Albatross Rd 4/3 listed for $598.8K, 1207 Par View Dr 3/2 listed for $759K, 1674 Sabal Palm Dr 3/3 listed for $865K, 501 Sea Walk Ct 3/2 listed for $889K, 9448 Cotten Ct 3/2 listed for $898K, 1779 Venus Dr 4/5.5 listed for $3.998M.

2 closed sales: 3990 Coquina Dr 3/2 $570K, 1777 Serenity Ln 5/4.5 $754K.

LOTS

No new listings, price changes, or new sales.

1 closed sale: 776 Birdie View Pt $375K.

Captiva

CONDOS

1 new listing: Bayside Villas #5320 3/3 $650K.

No price changes or new sales.

2 closed sales: Bayside Villas #5230 1/2 $280.5K, Sunset Beach Villas #2218 2/2 $568.5K.

HOMES

3 new listings: 14981 Binder Dr 3/3 $1.149M, 11500 Chapin Ln 4/4.5 $2.195M, 15009 Binder Dr 4/5.5 $4.295M.

3 price changes: 43 Oster Ct 2/2.5 now $784.9K, 15747 Captiva Dr 6/6.5 now $5.995M, 16428 Captiva Dr 7/8/2 now $9.5M.

1 new sale: 11520 Laika Ln 2/2 listed for $2.75M.

No closed sales.

LOTS

Nothing to report.

Our ad in the local “Island Sun” this week including a special thank you to all of our clients, colleagues, and business associates who have contributed toward making it another great year for SanibelSusan Realty Associates. We always are thankful to be living and working on this wonderful island, but especially enjoy thanking those who have helped to make it possible! Best holiday wishes to all! SanibelSusan (Susan Andrews)

Sanibel Scoop & Captiva Chatter

SanibelSusan's Blog About What's Happening on the Islands

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