A Peek at Dinkins Bayou on a Friday Afternoon

Posted on June 13, 2014 by SanibelSusan

It’s been yet another quiet yet sunny real estate week on Sanibel Island. There was a quick shower this morning and most evenings thunderstorms from the other coast as well as from the gulf side have tried to make their way to the islands, but it has rarely happened.

Here are a few snapshots that Dave took this afternoon while he was out checking our signs. This is Dinkins Bayou from the end of Henderson Road on the west end of Sanibel Island.

Now some news items from SanibelSusan followed by the activity posted this week in the Sanibel and Captiva Islands Multiple Listing Service.

Realtor® Happenings

Our local Association of Realtors® Caravan meeting yesterday had as many affiliate members in attendance as sales associates, so another indication that it is a slow time for island sales. Occupancy is expected to pick up for the upcoming July holiday, but in the meantime, it is a good time to play catch up.

Rental managers are doing their yearly property evaluations, Realtors® are beating the bushes looking for new listings, and the push with annual projects has begun with many condo associations beginning their maintenance and remodeling work early this summer.

I was asked to Chair our Association of Realtors® Nominating Committee again this year so that will take a few hours of time later this summer. We have two board positions opening up this year. Sharing, like volunteering always comes back in business multifold, so I am happy to do it.

Next Friday Realtors® from our District will be in Naples with their sleeves rolled up teaming with Meals of Hope and the entire Florida leadership team to package meals and fill cases of food for distribution to food pantries in District 5 communities. 2014 Florida Realtors® President Sherri Meadows will be there to speak about the homelessness problem in Florida and how Realtors® can make a difference.

Another Best for Sanibel Island

U.S. News Travel ranks the best destinations in the USA. They combine expert opinions and user votes to determine the best travel spots in a variety of categories. Under “Best Beaches in Florida”, Sanibel Island is #2. The others rounding out the top seven include: Destin, Naples, Fort Lauderdale, West Palm Beach, Miami Beach, and Key West.

Florida Treasurer Lauds State’s Economic Turnaround

Good news, posted yesterday in the “Northwest Florida Daily News” in Fort Walton Beach, FL:

“Florida’s treasurer has called the state’s recovery from the economic downturn a story of the human spirit and of people who do not give up and quit. Jeff Atwater, Florida’s Chief Financial Officer, was the guest speaker for Wednesday’s Power of Business breakfasting meeting hosted by the Walton Area Chamber of Commerce. Atwater started his talk by thanking the business leaders for turning around Florida’s economy.

“You’re the ones who are building this economy,” Atwater said. “You’re the job creators of this state, you’re the innovators, you’re the ones that create the hospitality, the memories and experiences that people will talk about after they visit.”

“Atwater talked about Florida’s recovery by first talking about how far the economy fell during the recession. In 2006, Florida’s top line revenue from sales taxes, licenses and fees, corporate taxes and doc stamps was $27 billion. The average single family home price was $258,000 and 365,000 people moved into the state.

“Fast forward three years and top line revenue had dropped to $21 billion, the average home price plummeted to $119,000 and the number of people who moved to the state fell to 20,000. During this time, the state also received a letter from Standard & Poor’s downgrading the state’s credit rating from neutral to negative.

“”I don’t stare at the state books,” Atwater said. “I can’t change the state books by staring at them and I can’t make your life better by staring at my books. The choices this state made were not to stare at our books in that nightmare moment, but to instead look up and look outward and ask what can we do to create the conditions for the fastest possible recovery.”

Since that time, the state has reduced its spending and debt as well as corporate taxes for small business owners to improve the economy. Atwater said the state’s top line revenue was back up to $26.5 billion, despite the lower taxes and debt, average home prices have gone back up to $175,000 and 287,000 people are estimated to be moving to Florida this year. S&P also upgraded the state’s credit rating back to neutral. “You didn’t give up. You hung in there,” Atwater said.””

Brazilians Make Their Mark on Florida & Beyond

Yesterday, to mark the beginning of the World Cup, Florida Realtors® posted the article below, sourced to The Associated Press. The article got me thinking about how many Brazilians own real estate in Lee County, so I did a quick property search. Answer: just 32 according to the Lee Property Appraiser’s website, www.LeePA.org.

“As all eyes turn to Brazil for the World Cup, Brazilians in the U.S. are also gaining notice. According to the U.S. Census, more than 325,000 people of Brazilian ancestry now call the United States home, but experts put the numbers higher.

“Most have come since the late 1980s, first landing in the nation’s traditional Portuguese-speaking enclaves around Boston and more recently congregating in central and South Florida. Still others have settled in New York, California and New Jersey….”

Will Stainless Steel Lose Its Popularity?

The following article posted on-line on Monday from REALTOR® Magazine doesn’t exactly answer this question, but this is a subject that comes up often from owners looking to renovate kitchens. Interesting to read what the future holds for kitchen appliances.

“Appliance manufacturers are providing home owners with modern finishes to their kitchen appliances, and some of the offerings have even been touted as the “new stainless steel.”

“Appliance makers are in the search for a potential successor to stainless steel, which some designers say will eventually wear out its welcome. But so far, no introductions have touched upon the popularity of stainless steel, and stainless isn’t likely to be doomed to the same fate as 1970s avocado-colored appliances anytime soon.

“Still, some home owners have complained about the annoyance of fingerprint smudges and the upkeep in keeping their stainless polished. Eventually, that annoyance may tempt them to look more closely at some of the alternatives popping up in the last two years. Some appliance makers are choosing to still channel the stainless look in their alternatives so that home owners could even make a gradual switch. Other manufactures, however, are opting to offer more bold alternatives.

“Could any of these finishes have the potential to dethrone home owners’ love for stainless steel one day?

“Ice-Glazed – Whirlpool introduced last year its White Ice collection of appliances, and at the time called white “the new stainless.” The glossy white appliances feature silver accents. Whirlpool also offers a Black Ice version — black appliances with silver accents.

“Slate – General Electric is offering up slate as an alternative. The low-gloss gray finish is “inspired by the rich texture of stone” and “provides a warm, inviting alternative to stainless steel,” GE says on its website. GE also notes that the dark matte finish hides fingerprints, smudges, and dirt.

“Colorful Options – Viking Range offers several various colors of appliances, such as in cobalt blue. Viking Range Corp. which was a pioneer in stainless with its debut in 1987 of a stainless steel open-burner range is providing home owners a colorful array of options with appliances. It has 24 color alternatives, from cinnamon, wasabi, kettle black and Dijon to plum, sea grass, and cobalt blue. Or, the company’s graphite gray may be a little less bold for more home owners who are looking to make a switch from stainless.”

Builders to Widen Stock of Green Homes by 2018

As posted in the “Daily Real Estate News” yesterday, “An upswing in green building is expected over the next four years as more widespread adoption takes hold, according to survey respondents in McGraw Hill’s latest SmartMarket Report.

“More than one-third of single-family builders or 34% report that more than 60% of their projects are “green.” What’s more, 62% of builders say they expect that more than 60% of their single-family homes will be green by 2018.

“The multifamily market is also going green. The number of multifamily builders who say that 90% of their current projects are green is expected to triple by 2018, rising from 6% to 18%, according to the report. Forty-two percent of builders say that more than 60% of their projects will be green by 2018. (Currently, 23% are operating at that level.)

“Builders say that buyers are showing more willingness to pay for green features. In 2013, 73% of single-family builders and 79% of single-family remodelers said that buyers were willing to pay a 3% to 5% premium for green homes. For multifamily homes, 68% of builders said that buyers were willing to pay more.

“In the survey, builders identified the following main drivers to building more green homes: energy cost increases; code, ordinance, and regulation changes; and green-product availability and affordability.”

Sanibel & Captiva Multiple Listing Service Activity June 6-13

Sanibel
CONDOS

3 new listings: Captains Walk #C7 1/1 $249K, Blind Pass #D204 2/2 $445K, Mariner Pointe #813 2/2 $479K .

1 price change: Lighthouse Point #215 3/2 now $575K.

1 new sale: Sundial #D408 1/1 listed for $359K.

2 closed sales: Seashells #6 2/2 $340K, Pine Cove #302 2/2 $1M.
HOMES

3 new listings: 702 Donax St 2/2 $449K, 2596 Roosevelt Pl 3/2 $785K, 1545 Sand Castle Rd 4/3.5 $1.295M.

4 price changes: 5141 San-Cap Rd 2/2 now $310K, 3001 Singing Wind Dr 3/2 now $539K, 395 Old Trail Rd 5/4 now $859K, 660 Anchor Dr 4/4 now $1.199M.

3 new sales: 2079 Wild Lime Dr 3/2 listed for $549K, 475 Sea Oats Dr 3/3 listed for $775K, 5615 Baltusrol Ct 4/4/3 listed for $4.399M.

2 closed sales: 696 Sea Oats Dr 3/2 $560K, 9007 Mockingbird Dr 3/3 $960K.

LOTS

1 new listing: 643 E Rocks Dr $335K.

No price changes, new or closed sales.

Captiva

CONDOS, HOMES & LOTS

Nothing to report.

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

Until next Friday, SanibelSusan hopes your weather is bright & sunny too!

It is Yet Another Gorgeous Friday Afternoon on Sanibel Island

Posted on June 6, 2014 by SanibelSusan

It is another sunny Friday on Sanibel with the locals again enjoying island offerings. The beaches have been just beautiful this week with visitors posting terrific sunset photos and folks talking of dolphins jumping near shore. I heard a couple of vacationers say that the shelling is light, but Lighthouse Beach continues to bring raves from those collecting miniatures. Traffic is essentially nil with no one needed to direct at the 4-way stops the last few days. The shops and restaurants mostly are being patronized by locals too.

We can always tell that “season” is really over when colleagues and I go into an island hangout for lunch and know nearly everyone there. That is when other business owners quiz us about the real estate market and we compare notes. Yesterday, I chatted with Trasi, co-owner of “The Over Easy Cafe” and “Island Paws”. We always joke with her that her restaurant is one of the few places where we can count on getting “in and out” in less than an hour, but only after the snowbirds depart. The restaurant was busy, but patrons included several other Realtors® and many island worker bees. Like the rest of us, she and her staff are enjoying a little less pressure after a super busy winter season.

We are all very thankful for the upswing in business this year. Dave Schuldenfrei, Manager of VIP Vacation Rentals, also told us that their bookings continue to be up, more than 20% over last year overall, including more visitors in June, July, and August. I sure hope prospective buyers are heeding that news. It still is a good time to buy an investment rental. That inventory has good opportunities including several of our listings!

Our last home listing closed on Monday. If you have island friends thinking of selling, please tell them about us, as plenty of home buyers remain.

Below are a couple of news items followed by a report action posted in the Sanibel and Captiva Islands Multiple Listing Service over the last seven days, but first a few photos that I snapped today on my way back to the office about noontime. The beach shots came from the boardwalk at Gulfside City Park. The bay views are from the park at end the end of Dixie Beach Blvd overlooking San Carlos Bay. The turtle crossing the road was in Lake Murex and the pretty arbor is the entrance to the butterfly garden at West Wind Inn.

Overlooking San Carlos Bay

Entrance to butterfly garden at West Wind Inn.

Another view of San Carlos Bay

Gulfside City Parking looking west

Be sure to watch out for turtles crossing in Lake Murex.

Gulfside City Park

Gulfside City Park looking east

Sanibel & Captiva 2014 Sales Stats

With more high-end sales posted this week, it is a good time to update the sales statistics for 2014. Here they are with the closed sales reported through noon today:

		Average Price $		Average Price $		Average Price $
SANIBEL	CONDOS		HOMES		LOTS
For Sale	138	697,768	174	1,332,100	86	521,561
Under Contract Awaiting Closing	15	790,420	34	820,838	4	411,500
Sold in 2014 thru 6/6	92	687,650	111	856,567	15	454,204
Sold in 2013	161	573,557	197	910,321	26	416,502
Sold in 2012	151	551,244	183	823,598	33	487,687
Sold in 2011	142	591,861	179	826,130	19	363,729
Sold in 2010	120	608,545	124	775,805	21	336,905
Sold in 2009	87	670,489	144	755,003	11	333,136
Sold in 2008	95	731,648	148	952,695	13	379,927
Sold in 2007	86	791,163	143	1,024,007	17	854,803
Sold in 2006	143	866,972	156	1,143,682	18	523,917

		Average Price $		Average Price $		Average Price $
CAPTIVA	CONDOS		HOMES		LOTS
For Sale	42	876,664	38	4,307,934	4	2,428,500
Under Contract Awaiting Closing	4	863,125	5	2,284,800	0	N/A
Sold in 2014 thru 6/6	7	526,611	16	2,796,344	0	N/A
Sold in 2013	36	659,185	18	2,522,056	2	675,000
Sold in 2012	35	836,129	26	1,536,019	3	1,221,667
Sold in 2011	24	737,754	22	1,782,059	1	485,000
Sold in 2010	25	696,159	10	2,258,250	2	2,850,000
Sold in 2009	22	804,818	16	2,573,016	3	2,241,667
Sold in 2008	21	894,536	13	3,465,385	4	3,251,250
Sold in 2007	12	906,042	19	3,270,300	1	3,575,000
Sold in 2006	21	1,362,476	10	2,307,375	4	2,218,750

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

Resort & 2nd Home Property Specialist (RSPS)

Tuesday, at our Association office, SanibelSusan taught one of the modules needed for island Realtors® to earn their Sanibel & Captiva Islands Specialist (SCIS) designation. The Sanibel & Captiva Islands Association of Realtors® offers this local education program annually. It is a good way for those working the island to learn what is different in selling real estate here. My 15 students included some brand-new Realtors®, some with many years of experience, some new here, and some that know the island well. It made for an interesting mix and good interaction.

As one of the 40 members of the 2014 Florida Realtors® Resort & 2nd-Home Specialists Forum and one of just six islands Realtors® holding the national RSPS certification, it always is fun to update my course material and get smarter myself, while sharing the knowledge. It goes without saying that the bulk of island sales are to buyers looking for vacation or 2nd-home property, rental income, or value appreciation.

Here is some info from my class. Some of the stats are based on the National Association of Realtors® “Investment and Vacation Home Buyers Survey 2014”.

The states with the largest number of vacation and second homes are Florida, California, Texas, and Michigan.

Nationally, 75% of these buyers get financing, here (Sanibel & Captiva) it is the reverse, with most buyers paying cash.

60% of today’s investment buyers are likely to buy another investment property.

55% of investment buyers are likely to buy a vacation property in the next two years.

Similarly in two years, 51% of all vacation property buyers are likely to purchase an investment property and 52% are likely to purchase another vacation property.

Among those buying primary residences, 37% are likely to buy an investment property and 40% a vacation property within the next two years.

By 2020, the number of second homes is expected to increase by about 200,000 units per year with the South projected to see about half of all the new 2nd-home growth.

Housing Market Reaching Equilibrium

A “Real Estate News” article posted on-line on Monday, says:

“Home prices have already begun moderating over the past year and appreciation likely will continue to gradually slow over the next two years, according to a forecast of 31 analysts recently surveyed by Reuters. Analysts predict home prices to rise 7.5% this year and then curtail to 4% by 2016.

“That marks a sharp slowdown from the double-digit increases reported last year. Analysts surveyed by Reuters say they expect prices to slow in the coming months due to tight lending standards, slow wage growth, and a lack of first-time buyers.

“”Growth would be more robust if we saw more first-time homebuyers in the market,” says David Nice, economist at Mesirow Financial. “That would put the housing market on a sustainable growth trajectory.” Analysts surveyed expect existing home sales to reach a 4.75 million annual rate in the second quarter of this year and rise to 5.10 million in the first quarter of 2015. “We are seeing a state of equilibrium,” says Mark Goldman, a real estate expert at San Diego State University in California. “I don’t see any symptoms that would cause housing prices to go up or down significantly.””

Sanibel & Captiva Islands Multiple Listing Service Activity May 30-June 6

Sanibel
CONDOS

1 new listing: Nutmeg Village #209 2/2 $675K.

5 price changes: Sundial #I103 1/1 now $349.5K, Loggerhead Cay #411 2/2 now $523.9K, Nutmeg Village #308 2/2 now $769K, Sanddollar #A104 2/2 now $829K, Sedgemoor #206 3/3.5 now $2.875M.

4 new sales: Sundial #I304 1/1 listed for $389K, Loggerhead Cay #583 2/2 listed for $540K, Sundial #O302 2/2 listed for $699K, Tarpon Beach #305 2/2 listed for $750K.

5 closed sales: Sunset South #1B 2/2 $515K, Sandpiper Beach #505 $575K (short sale), Surfside 12 #B1 3/2 $854.5K, High Tide #A102 3/2.5 $1.2M, Anglers Key #201 3/3 $1.62M.

HOMES

4 new listings: 621 Lake Murex Cir 2/2 $509K, 2470 Harbour Ln 3/3 $999.9K, 5427 Osprey Ct 3/3.5 $1.2472M, 190 Violet Dr 3/2.5 $1.295M.

6 price changes: 3168 Twin Lakes Ln 3/2 now $579.9K; 1291 Sand Castle Rd 5/3.5 now $799K; 3351 Barra Cir 3/2.5 now $869,999; 904 Almas Ct 3/2.5 now $1.095M; 660 Anchor Dr 4/4 now $1.299M (short sale); 1206 Bay Dr 4/4.5 now $2.85M.

6 new sales: 1841 Ibis Ln 2/2 listed for $458K, 553 Lake Murex Cir 3/2 listed for $579K, 1284 Par View Dr 2/2 listed for $649K, 949 S Yachtsman Dr 3/2 listed for $775K, 2538 Blind Pass Ct 3/2 listed for $850K, 2279 Troon Ct 3/4 listed for $1.295M.

14 closed sales: 2007 Mitzi Ln 3/2 $399K, 9263 Kincaid Ct 3/2.5 $415K, 1890 Farm Trl 3/2 $427.5K, 3837 Coquina Dr 2/2 $415K, 1625 Serenity Ln 3/2 $480K, 706 Emeril Ct 3/2 $679.9K, 2550 Wulfert Rd 4/3.5 half-duplex $688K, 1300 Par View Dr 3/2 $726K, 1130 Seagrape Ln 4/3 $770K, 820 Angel Wing Dr 3/2 $910K (our listing), 1759 Jewel Box Dr 3/2 $917.5K, 5423 Osprey Ct 3/2.5 $1.337M, 4781 Tradewinds Dr 3/2 $1.485M, 1077 Bird Ln 4/4/2 $5M.

LOTS

1 new listing: 1311 Par View Dr $295,555.

2 price changes: 9239 Dimmick Dr now $159.9K, 4636 Rue Royale now $429K.

1 new sale: 659 Anchor Dr listed for $549K.

1 closed sale: 1325 Eagle Run Dr $395K.

Captiva
CONDOS

2 new listings: Sunset Beach Villas #2313 1/1 $539K, Beach Cottages #1403 2/2 $1.085M.

2 price changes: Sunset Beach Villas #2337 2/2 now $699K, Sunset Beach Villas #2332 2/2 now $699K.

1 new sale: Sunset Beach Villas #2316 1/1 listed for $525K.

1 closed sale: Sunset Beach Villas #2338 3/3 $773.5K.

HOMES
No new listings.

1 price change: 16428 Captiva Dr 7/8/2 now $9.75M.

1 new sale: 11532 Wightman Ln 2/2 listed for $1.35M.

1 closed sale: 1129 Logifolia Ct 4/5 $5.3M.

LOTS

Nothing to report.

Best wishes to all for a terrific weekend!

It will be summer beach weather with those afternoon showers still likely here!

May Ends “Flamboyantly” on Sanibel Island

Posted on May 30, 2014 by SanibelSusan

It’s another beautiful Friday afternoon on Sanibel and Captiva. This week islanders have settled into a typical summer pattern. Traffic is light, the restaurants are being patronized by mostly “locals”, and the late afternoon white popcorn clouds are making their way across the causeway bringing quick, but often heavy, late-day showers. Lee County Schools ended their academic year at noon Wednesday so family vacations will begin soon.

Below is a photo that I shot today on my way back to the office after lunch. It is one of the last blooming royal poinciana trees, located near the entrance to Lake Murex. May is generally the month for those trees to bloom “flamboyant”ly (as the tree is called in the Caribbean). Most of the trees here have already leafed out, but this one is still in its glory!

If you didn’t receive a copy of my recent newsletter, “The Sanibel Scoop, with Captiva Chatter”, here is a link: SanibelScoop_05-12-14_Booklet.

At our bi-weekly Caravan Meeting yesterday at the Association of Realtors®, attendance was low and only a handful of new listings were announced. Following a few news items below is a report of all of the activity posted over the last seven days in the Sanibel and Captiva Islands Multiple Listing Service.

35th Annual Road Rally Registration

If you will be here for the next holiday, it is always fun to participate in the Sanibel-Captiva Optimist Club’s longest-running 4th of July event. With the proceeds going to local scholarships, this year marks the 35th year of the July 4th Road Rally. The rally begins in the Timbers Restaurant/Sanibel Grill parking lot at noon (after the parade) and ends at the Grill with an after-glow party. The $35 entry fee covers a car, the driver, navigator, and unlimited crew members plus one commemorative Road Rally T-shirt. Additional T-shirts are available for $15. It is not a race, but rather, teams puzzle out clues while following a prescribed driving course around the island. Prizes are awarded for finishing in the correct time, at the correct mileage, for the most correct answers to the quiz about things seen along the route, and for the best decorated vehicle. The number of entries is limited with forms available at Bailey’s General Store, Sanibel Cafe, Sanibel-Captiva Community Bank, “Island Sun” newspaper, and at the starting line. Staggered starting times are pre-assigned by the Rally Master. (As one who has participated in the Rally, rest assured that you do not need to know island geography to win.)

Permeable Paver Ordinance Passed from Planning to City Council

At the Sanibel Planning Commission Meeting on Tuesday, a draft ordinance which would amend the City Land Development Code allowing, under certain conditions, the use of permeable pavers within driveways and parking areas of single-family homes, and duplex/triplex residences was discussed. A recent study shows that the use of materials such as sand, shell and gravel can become more compacted and less pervious over a period of years. The draft ordinance about the use of permeable pavers has some provisions. City Council is expected to conduct a first reading of it on June 3.

Sea Turtles & Snowy Plovers & Tarpon

‘Tis the season for all three!

Most loggerhead sea turtles come ashore at night to lay their eggs in the sand, but twice last week on Sanibel two Sea Turtle volunteers reported seeing different females heading back into the gulf at sunrise (one east-end and the other at Bowman’s Beach). Nesting runs until October, so if you are a beach-walker, please be on the lookout for these wonderful creatures. Do not to disturb them or their nests. More than 60 nests already have been marked on Sanibel/Captiva. Track the nests at www.sccf.org.

The Conservation Foundation (SCCF) also reports that as of last week, 12 snowy plover nests have been spotted and marked. Three have already hatched chicks. These birds are so tiny that sometimes visitors miss them. SCCF has a Snowy Plover program coming up next Tues, Jun 3, at 1:30 p.m. It’s free to SCCF members and children. $5 for non-members. Definitely worth attending if you want to learn more about these fascinating little guys.

This week, local fishermen have been posting lots of Facebook photos of their catches, plus shots of plenty of tarpon rolling and jumping. With tarpon size varying from about 40 pounds to more than 150 pounds, the fish stories seem to be more plentiful this year than last May.

Lee Memorial Health System

A frequent question posed to real estate professionals in Southwest Florida, is “how is the medical care here?” Short of saying that there are lots of healthy old retirees in the Sunshine State and that HealthPark is just a few minutes off the causeway, here is some good info from the Spring 2014 Lee Memorial Health System Foundation booklet, “The Gift” (Helping Hands, Caring Hearts):

“Your generous donations make it possible for Lee Memorial Health System to:

Operate the only state-approved Level II Trauma Center between Tampa & Miami

Have more than 1 million patient contacts each year

Rank among the Top 50 hospitals in the nation

Maintain the only Level III Neonatal Intensive Care Unit (NICU) between Tampa & Miami at Golisano Children’s Hospital of Southwest Florida.”

See foundation info at www.LeeMemorial.org/foundation.

Experts Say Home-Price Appreciation to Slow Down Through 2016

In an article posted by RISMedia and summarized in “Daily Real Estate News” on-line last week, “home values are expected to appreciate by 4.4% on average through the end of the year, but that rate will slow to 3.8% in 2015 and 3.4% in 2016, say 106 economists, real estate experts, and investment and market strategists surveyed by Pulsenomics LLC.

“After a sharp double-digit percentage increase in home values last year, the rollback in appreciation would put them more on par with historical norms. Prior to the housing bubble years of 1987 to 1999, home values averaged 3.6% growth per year.

“The majority of economists surveyed say they expect median home values to exceed their pre-recession peaks by the first quarter of 2018. They cited the following as the most common concerns for declining housing affordability: income growth (28%); abnormally high rates of home-price and rent appreciation (27%), and an abnormally low supply of homes for sale or rent (21%).

““Time will tell whether Washington’s unfolding plan to expand mortgage credit will have a durable, positive impact on home values, housing confidence, and market expectations,” says Terry Loebs, founder of Pulsenomics.”

Negative Equity Key to Housing Roller Coaster?

Florida Realtors® posted the following article on Wednesday. It makes sense.

“One reason for the sluggish housing recovery: homeowners can’t sell their homes because they don’t have enough equity to do so yet, The Wall Street Journal reports.Nearly 10 million U.S. households – about 18% of homeowners with a mortgage – are still underwater, meaning their home is worth less than their mortgage. Home prices are rising, and the number of underwater homeowners is declining, but some still feel stuck.

“”Most move-up homeowners typically use their home equity to cover broker fees, closing costs, and a down-payment for their next home,” The Wall Street Journal reports. “Without those funds, many homeowners can’t sell.”

“Some housing analysts say that understanding negative equity is key to understanding a lot of the distortions occurring in the current housing market.

“The picture has been gradually improving, however. While the number of underwater homeowners remains high, some reports show more homeowners regaining equity. About 4 million homes returned to positive equity in 2013, boosting the total number of non-underwater U.S. homes to about 42.7 million, according to a CoreLogic report.

“”The plight of the underwater borrower has improved dramatically since negative equity peaked in December 2009 when more than 12 million mortgaged homeowners were underwater,” says Mark Fleming, chief economist for CoreLogic. “Over the past four years, more than 5.5 million homeowners have regained equity, reducing their risk of foreclosure and unlocking pent-up supply in the housing market.”

Source: “Negative Home Equity Impedes Housing Recovery,” The Wall Street Journal (May 24, 2014) and “CoreLogic: 4 Million Homeowners Back Above Water in 2013,” HousingWire (March 6, 2014)

Sanibel & Captiva Multiple Listing Service Activity May 23-30

Sanibel
CONDOS

4 new listings: Colonnades #44 1/1 $207K, Ibis at The Sanctuary #201 2/2 $499K, Sandy Bend #5 2/2 $659K, Compass Point #112 2/2 $1.135M.

2 price changes: Island Beach Club #P2A 2/2 now $499.9K, Loggerhead Cay #373 2/2 now $539K.

No new sales.

3 closed sales: Tennisplace #B24 2/1 $282K, Cottage Colony West #119 1/1 $550K (our listing & buyer), Tarpon Beach #109 2/2 $750K.

HOMES

4 new listings: 1938 Roseate Ln 3/2 $389K, 701 Durion Ct 3/2 $549K, 620 Hideaway Ct 2/2.5 $575K, 1755 Jewel Box Dr 3/2 $712.5K.

8 price changes: 1835 Ardsley Way 2/1 now $329K, 732 Durion Ct 3/2 now $727.9K, 475 Sea Oats Dr 3/3 now $775K, 5753 Pine Tree Dr 3/4 now $825K, 1329 Eagle Run Dr 3/2.5 now $849K, 1528 Angel Dr 3/2 now $864K, 201 Violet Dr 3/2 now $869.5K, 428 Bella Vista Way 4/4 now $1.795M.

3 new sales: 925 Lindgren Blvd 3/2 listed for $698K, 1516 Angel Dr 3/2 listed for $890K, 466 Sea Oats Dr 4/3.5 listed for $995K.

3 closed sales: 1555 Bunting Ln 2/2 $420K, 340 E Gulf Dr 2/2 $479K, 1001 Kings Crown Dr 3/2.5 $822K.

LOTS

No new listings, price changes, or new sales.

1 closed sale: 6081 Henderson Rd $195K.

Captiva
CONDOS

1 new listing: Bayside Villas #5130 1/2 $275K.

5 price changes: Gulf Beach Villas #2031 2/2 now $699K, Sunset Beach Villas #2332 2/2 now $699K, Sunset Beach Villas #2337 2/2 now $715K, Ventura Captiva #5B 3/3.5 now $965K, Lands End Village #1667 2/2 now $1.025M.

2 new sales: Sunset Beach Villas #2316 2/2 listed for $525K, #6 Beach Homes 3/3 listed for $1.895M.

No closed sales.

HOMES
No new listings.

1 price change: 16785 Captiva Dr 4/3.5 now $1.749M.

1 new sale: 11411 Old Lodge Ln 4/2 listed for $929K.

1 closed sale: 16464 Captiva Dr 8/8.5 $7M.

LOTS

Nothing to report.

Here’s to a great weekend and a smooth transition into hurricane season which begins on Sunday!

Almost Memorial Day 2014 on Sanibel & Captiva Islands

Posted on May 23, 2014 by SanibelSusan

Just in time for a 3-day weekend, SanibelSusan is ready for some holiday real estate business. Island weather is almost in full summer-mode with a few afternoon showers expected to crop up inland. It is AOK if they occasionally hit the islands too since rain still is needed and the after-affects usually make for great sunsets.

With the islands quiet earlier in the week, our listings only had a handful of showings. A report of the Multiple Listing Service action over the last seven days follows a couple of news items. You will notice that another of our Mariner Pointe listings (the 3 bedroom) went under contract this week and we had a nice Gumbo Limbo home closing this afternoon.

19th Annual RPAC Auction & After-Season Party

19th Annual RPAC event with 2014 Assoc Prez, David Schuldenfrei; 2014 RPAC Chair, Toby Tolp; & FL Realtors Sr VP for Public Policy, John Sebree

19th Annual Sanibel-Captiva RPAC event with 2014 Assoc Prez, Dave Schuldenfrei; 2014 RPAC Chair, Toby Tolp; & FL Realtors Sr VP for Public Policy, John Sebree

This annual Sanibel & Captiva Islands Association of Realtors® event was held Wednesday again this year at The Sanctuary Golf Club. It included a golf outing, silent, and live auctions, plus after-party, all to benefit RPAC (REALTORS® Political Action Committee).

Wondering what RPAC is or does? If there is a federal, state, or local topic related to real estate, owner rights, and property values, you can expect a Realtor® PAC to be involved. In recent years, on the islands, we have benefitted from PAC money helping with such issues as water quality, flood insurance, beach re-nourishment, and build-back.

Wondering how each RPAC dollar is spent? 30% goes to the national Realtors® PAC, 45% goes to Florida Realtors® PAC, and 25% goes to the local associations.

For many years, the Sanibel and Captiva Islands Association has led the state in several fund-raising categories including the most RPAC dollars raised and the highest percentage of goal for a small board. Last year, we won four of the five trophies awarded, so you know what we want this year.

A special guest at this year’s event was Florida Realtors® Senior Vice President of Public Affairs, John Sebree, from Tallahassee. It was such a treat to have him update our members on what he and RPAC are doing. SanibelSusan’s “mystery basket” of closing gifts was auctioned off and SanibelSusan again was a major donor.

Tab for Captiva Beach Re-nourishment

Captiva Beach re-nourishment (10/13) photo by NBC-2

According to an article posted Wed in the “Captiva Current”, “Captiva Island property owners are about to get an invoice in the mailbox. Owners holding some 1,108 properties are on the hook for about $5.7 million of a project designed to replace sand lost to erosion and storms. The 3-month Captiva Beach Re-nourishment Project cost nearly $20 million. The work replenished sand to nearly five miles of exquisite Captiva beachfront. The work ended in December. It is considered vital in protecting the region from storm damage, but nice beaches with fluffy sand also attract investment and tourists. Captiva is rated among the world’s finest vacation spots.

“The U.S. Army Corps of Engineers initially had pledged $8 million towards the project, but yanked the funding due to technical issues related to easement and beach access, causing howls of resentment at the last-second decision. Lee County in 2013 upped its commitment to the project by $1 million to $7.1 million. Other sources covered all but $5.7 million in the restoration project.

“The bottom line is that Captiva must pony up the balance. Letters to individual property owners go out beginning May 19. There will be a June 5 public meeting at the ‘Tween Waters Inn/Resort, where property owners can voice concerns, applaud the decision. But it won’t change much, officials concede. The 5:01 p.m. meeting time has the flavor of a final notice.

“Some contention was raised May 13 by Mike Mullins, chair of The Captiva Community Panel, the island’s oversight group, voicing doubts about the formula for spreading the debt fairly among property owners. Mullins inferred he absorbed a large bill for a 2010 re-nourishment project, that homes were assessed differently based on the number of structures on a private residence, Mullins inferred he absorbed a large bill for a 2010 re-nourishment project, that homes were assessed differently based on the number of structures on a private residence, he said. Multiple structures could signify rental or multifamily, but not necessarily, Mullins said. The formula is largely based on home value, but the recreational and storm-benefit value also are figured into the complicated formula. “Homesteaders should be considered differently than second home (owners),” Mullins said.

“The invoice could be as low as $500, but go well above that figure considering the extreme value of some of Captiva’s beachfront homes. Each property will receive a bill. Property owners will have the choice fo paying the bill upfront, or spreading it over seven years, officials with the governing Captiva Erosion Prevention District said.”

National Flood Insurance Program Effective May 1

With flood insurance continuing to be a frequent question from prospective buyers and ground-level island homes popular, I thought it worth repeating the following article that was posted on-line by the National Association of Realtors® (NAR) back on April 30:

“Effective May 1, 2014, all buyers of older properties (“pre-FIRM”) will see a premium rate reduction under the Homeowner Flood Insurance Affordability Act of 2014. Instead of jumping to “full cost” for flood insurance, buyers will assume the seller’s Oct-2013 rate for a pre-FIRM property.

“NAR prevailed upon FEMA to implement this provision seven months early. FEMA also extended the rate relief so all pre-FIRM properties (including 2nd homes and businesses) will begin paying Oct-2013 rates when they purchase or renew their flood insurance after May 1, including:

ALL buyers of a pre-FIRM property, not just those whose seller has an existing policy;
ALL recent owners who apply for a new flood insurance policy on a pre-FIRM property;
ALL recent owners who reinstate an old pre-FIRM policy that previously lapsed for any reason;
ALL recent owners who renew a policy on a pre-FIRM property bought or newly insured after the 2012 Biggert-Waters law.

“While expediting the rate relief, FEMA must still issue refunds to all those who paid more than their Oct-2013 rate.

“NAR will continue working with FEMA and Congress to quickly issue these refunds to anyone overcharged for flood insurance under Biggert-Waters.

“NAR Flood Insurance Resources on the Web:

The Resort & 2nd Home Market

Summer or the “off-season” is education time for most island Realtors®. This weekend, I will be updating the class that I teach in early June to students looking to get their “Sanibel & Captiva Islands Specialist (SCIS)” designation. Earning that designation requires completing 12 different modules, each specific to buying and selling real estate on the islands. The module on the resort and 2nd home market is my specialty. I wrote this module three years ago and it has become more popular each year as that market has grown.

According to NAR’s 2014 Investment and Vacation Home Buyers Survey, last year, vacation home sales were up 29.7% over 2012, with 38% of buyers paying cash. Nationally, vacation home sales accounted for 13% of all transactions last year, their highest market share since 2006. Here on the islands, those numbers are significantly higher.

Sanibel & Captiva Islands Multiple Listing Service Activity May 16-23, 2014

Sanibel

CONDOS

No new listings.

5 price changes: Sundial #H411 1/1 now $277.5K, Loggerhead Cay #451 2/2 now $475K, Mariner Pointe #332 2/2 now $499.9K (our listing), Loggerhead Cay #583 2/2 now $540K, Sundial #E108 2/2 now $799K.

2 new sales: Mariner Pointe #711 3/2 listed for $599.9K (our listing), Tamarind #A101 2/2 listed for $1.505M.

5 closed sales: Sanibel Shores #2 2/1 $289K, Sanibel Moorings #1322 2/2 $400K, Pointe Santo #E21 2/2 $650K, Sundial #E208 2/2 $780K, Pointe Santo #C25 3/2 $825K.

HOMES

4 new listings: 580 Birdsong Pl 3/2.5 $599K, 1228 Anhinga Ln 3/2 $625K, 9448 Cotten Ct 3/2 $898K, 676 Anchor Dr 3/3 $965K.

5 price changes: 490 Elizabeth Dr 2/2 now $379K; 1504 Angel Dr 4/3 now $745K; 917 Pepper Tree Pl 4/3 now $799,407; 1528 Angel Dr 3/2 now $864K; 857 Birdie View Pt 3/2.5 now $1.029M.

5 new sales: 1744 Bunting Ln 4/2 listed for $599.7K, 1063 S Yachtsman Dr 3/2 listed for $675K, 1529 Sand Castle Rd 3/2 listed for $787.5K, 1058 Fish Crow Rd 4/3 listed for $849K, 2279 Troon Ct 3/4 listed for $1.295M.

8 closed sales: 736 Cardium St 3/2 $385K, 1659 Serenity Ln 3/2 $600K (our buyer), 1213 Par View Dr 3/2.5 $700K, 3711 Agate Ct 3/2.4 $784.5K, 5690 Pine Tree Dr 3/2 $745K, 4622 Rue Belle Mer 4/2 $788K, 2749 Wulfert Rd 3/3.5 $900K, 5115 Joewood Dr 4/3 $944K.

LOTS

No new listings.

1 price change: 3792 Coquina Dr now $339K.

1 new sale: 1325 Eagle Run Dr listed for $475,555.

1 closed sale: Middle Gulf Dr $525K.

Captiva

CONDOS

2 new listings: Tennis Villas #3111 1/1 $255.5K, Bayside Villas #5130 1/2 $275K.

2 price changes: Ventura Captiva #5B 3/3.5 now $975K, Lands End Village #1665 2/2 now $1.195M.

No new sales.

1 closed sale: Beach Villas #2634 3/3 $746.5K.

HOMES

Nothing to report.

LOTS

Nothing to report.

Happy Memorial Day!

Sanibel/Captiva Islands Weekend Forecast = Low Humidity, Sunny Skies, Low 80’s

Posted on May 16, 2014 by SanibelSusan

It has been another week of pretty nice weather on Sanibel & Captiva Islands. The first of the summer showers arrived on Wednesday to the begin of the “rainy season”, but the water was needed. A gorgeous weekend is forecast with low humidity, sunny skies, and day-time temperatures in the low 80’s.

There was low turnout at our first summer bi-weekly Realtor® Caravan meeting yesterday and only eight properties were on tour. (That is not many new listings for a 2-week period.)

Teammate Dave held our new listing at Mariner Pointe (#811) open with just a handful of visitors.

Sand Pointe pool

He had nearly as much action the day before when he held Sand Pointe #122 open for a few hours.

It appears that a few condo owners still are poking around.

It is always positive to have those walk-ins at Open Houses.

Here are a few news items followed by the activity posted in the Sanibel and Captiva MLS since last Friday.

Our “Sanibel Scoop with Captiva Chatter” newsletter is due back from the printer soon, so when it is, the next few days will be spent doing the mail-out chores we refer to as “lickin’ & stickin”. If you want to be on our mailing list, please send me at email Susan@SanibelSusan.com.

A Win for the Caloosahatchee

Wondering what the future holds for our water quality?

It was good news to read the below article in the “Island Sun” today.

“The Conservancy of Southwest Florida legally challenged and won a fight to protect the Caloosahatchee. State Judge Bram Canter agreed with the Conservancy’s position that the South Florida Water Management District “went too far” and was “clearly erroneous” in its new proposed rules to redirect water away from the Caloosahatchee.

“”The Caloosahatchee is one of America’s most endangered rivers,” said Robert Moher, Conservancy of Southwest Florida president and CEO. “This waterway already faces extremes of too much or too little fresh water. Taking more water away from our treasured river during dry seasons would further exasperate a dire situation and lead to further ecological damage in the near term and long run.”

“In February, the South Florida Water Management District put forward a rule it was developing to reserve water in the proposed C-43 reservoir for supplementing flows to the Caloosahatchee during dry periods – clearly a desirable goal. However, the same rule would also have expanded protections for other water users at the expense of the river itself – clearly a problematic outcome.

“”The district’s language, if unchallenged, would further contribute to negative consequences for our environment and the tourism economy on which we all thrive,” said Jennifer Hecker, director of natural resource policy with the Conservancy of Southwest Florida….Heckler says with the right balance of fresh water releases, during the wet and dry seasons, the Caloosahatchee can become a healthier and more productive ecosystem and, in turn, enhance our regional economy and quality of life.

“Prior to filing suite, Moher said the Conservancy of Southwest Florida repeatedly reached out to the district advocating for a more balanced alternative. “The Conservancy is known for providing sound research and presenting balanced solutions,” said Moher. “Litigation is always a last resort. We are pleased with the judge’s ruling. This is a win for Southwest Florida land, water and wildlife.”

“To get involved with or to learn more about the Conservancy’s campaign to save the Caloosahatchee, visit www.conservancy.org/ripple-effect.”

More Home Buyers Bring Cash to Closing

How about this news from the National Association of REALTORS® (NAR) last week:

“All-cash purchases are on the rise, despite a decrease in distressed sales and investor activity, according to NAR’s REALTORS® Confidence Index…. All-cash sales made up 33% of transactions in the first quarter, compared to 31% in 2013.

““Distressed home sales, most popular with investors who pay cash, have declined notably in the past two years, yet the share of all-cash purchases has risen,” notes Lawrence Yun, NAR’s chief economist. “At the same time, investors have declined as a market share, indicating other changes have been underway in the marketplace.”

“Distressed home sales fell to 15% in the first quarter. For comparison, in 2013, they were 17% of the market and in 2012 they comprised 26% of sales. NAR predicts that distressed home sales will drop to a single-digit market share by the fourth quarter of this year. Meanwhile, investors’ share in the market is also falling – at 19% in the first quarter of this year compared to 20% of buyers in 2012.

““These findings beg the question as to why we’re seeing higher shares of cash purchases,” Yun says. “The restrictive mortgage lending standards are a factor, but the higher levels of cash sales may also come from the aging of the baby boom generation, with more trade-down and retirement buyers paying cash with decades of equity accumulation.”

“Trade-down buyers have been rising – making up 29% of buyers last year, according to NAR. Also, “a majority of foreign buyers pay cash as well, and the five-year bull run of the stock market has also provided financial wherewithal among higher wealth households,” Yun notes.

“In Florida, more than half of all homes purchased were from all-cash deals, according to NAR’s data.

“Florida is the most popular state for international buyers, who generally pay cash, as well as vacation-home buyers who frequently pay cash,” Yun says. “In addition, downsizing retirees are known to pay cash from the proceeds of their homes in the north. This helps to explain the disparity there, but that isn’t the case in most other states.” All-cash deals account for close to four out of 10 transactions in Nevada, Arizona, and West Virginia.”

30-Year Mortgage Rate Reaches New Low for the Year

After I posted last Friday’s blog, I saw this article sourced to “Freddie Mac” on Realtor®Mag’s “Daily Real Estate News”:

“The 30-year fixed-rate mortgage averaged 4.21% this week, the lowest since November 2013, Freddie Mac reports in its weekly mortgage market survey.

“”Mortgage rates continued moving down following the decline in 10-year Treasury yields after a dismal report on real GDP growth in the first quarter,” says Frank Nothaft, Freddie Mac’s chief economist. Freddie Mac reports the following national averages for mortgage rates for the week ending May 8:

“30-year fixed-rate mortgages: averaged 4.21%, with an average 0.6 point, dropping from last week’s 4.29% average. Last year at this time, 30-year rates averaged 3.42%.

“15-year fixed-rate mortgages: averaged 3.32%, with an average 0.6 point, dropping from last week’s 3.38% average. A year ago, 15-year rates averaged 2.61%.

“5-year hybrid adjustable-rate mortgages: averaged 3.05%, with an average 0.5 point, holding the same as last week. Last year at this time, 5-year ARMs averaged 2.58%.

“1-year ARMs: averaged 2.43%, with an average 0.4, dropping from last week’s 2.45%. A year ago, 1-year ARMs averaged 2.53%.”

Sellers Are Becoming More Aggressive in Pricing

According to a report issued by Redfin Research Center (May 8, 2014), more home sellers want to get aggressive with the pricing of their home. Forty percent of sellers say they plan to price their homes above market value, according to the latest Redfin Real-Time Seller Survey of 1,128 active home sellers across 25 U.S. cities.

“That can be a risky strategy and backfire, says Paul Reid, a Redfin Riverside area real estate professional. “Buyers this year are far less tolerant of overpricing, and homes that aren’t priced appropriately are likely to sit on the market until the seller is forced to reduce the price,” says Reid about the survey results. “Buyers often interpret a price drop as a sign there is something wrong with the home, leading some to negotiate even more aggressively or lose interest altogether.” In Riverside, 30.4% of homes for sale had seen a price drop as of March, compared to nearly 21% last spring.

“Fifty-one percent of home sellers say they plan to price their home in the middle range based on local comparable sales. About 8% say they plan to price their home low.

“Thirty percent of sellers surveyed say that rising prices over the past year has made them feel more confident about the security of a home investment. Sixty percent said that the rising prices have not changed the way they feel about their home as an investment.

“While more sellers say it’s a good time to sell, they do have some concerns when finding their next house. Sellers’ top concerns are affordability, competition, and low inventory in finding their next home, according to the survey.”

3 Tips for Selling a Small Kitchen

Many buyers are in search of great kitchen space. But the kitchen can be one of the trickiest rooms to stage, especially when the space is small.

“If your seller’s house is lacking in kitchen space, it’s important to make it look as appealing as possible”, says Megan Morris, founder of MHM Professional Staging. Morris, who has worked with celebrity clients, offers up these three tips to help sell a small kitchen:

1. Remove all clutter and appliances from the countertops, leaving only one or two decorative items. This will make the space appear cleaner and larger, she says.

2. Make sure the kitchen is getting plenty of light. Dark spaces appear smaller, Morris says, so to open up the space make sure any windows are allowing maximum light through. If that’s not possible, add appealing forms of artificial lighting to do the trick.

3. If the cabinets have seen better days, consider painting them white. White reflects light and helps make a space feel much bigger and open.”

Good Things Happen With an Electric Co-op

LCEC (Lee County Electric Co-op which services Sanibel & Captiva Islands) announced in its May newsletter that “the Board of Trustees recently approved an equity distribution of $12.2 million to current and retired members’ accounts. Members with accounts closed since 2006 will receive a total of $6.1 million. Customers with current and retired accounts will receive a total distribution of $6.1 million. Over the years LCEC has returned more than $220 million in equity to its customers…. Only about half of the 1,000 electric cooperatives in the U.S. return equity to customers.

“In June, checks will be mailed to active members receiving more than $250. Customers received $250 or less will receive a credit on their electric bill….”

Survey Reveals What’s Hot and What’s Not

When I read this article on Daily Real Estate News on-line yesterday, I had to agree with what this Redfin survey reported:

“What are some of the most popular home features luring home buyers? The real estate brokerage Redfin surveyed 435 of its real estate professionals across the country to find out what the biggest real estate trends are with home features. According to the survey, real estate professionals identified the following features as the most popular among home buyers:

•    Open floor plans
•    Move-in-ready homes
•    Granite in areas such as bathrooms or kitchens
•    Upgraded windows
•    Locations near public transportation
•    Energy-saving appliances
•    Large closets
•    Updated lighting fixtures
•    Two-story home with a bedroom on the main floor
•    Wood floors

“The survey revealed the following home features are not popular with home buyers:

•    Popcorn ceilings
•    Carpet
•    Lack of parking
•    Small kitchens and bathrooms
•    Minimal amount of natural light
•    Dated homes
•    Wallpaper
•    Low ceilings
•    Limited storage space
•    Loud location on a busy street”.

Sanibel & Captiva Islands Multiple Listing Service Activity May 9-16, 2014

Sanibel
CONDOS

6 new sales: Seashells #15 2/2 $325K, Seashells #33 2/2 $349K, Sanibel Siesta #105 2/2 $439.5K, Sanibel Arms #C1 2/2 $499K, Sandalfoot #3D3 2/2 $630K, Nutmeg Village #313 2/2 $1.35M.

1 price change: Loggerhead Cay #474 2/2 now $469.9K.

6 new sales: Tennisplace #B24 2/1 listed for $299.9K, Sundial #G407 1/1 listed for $339K, Sanibel Arms West #J6 2/2 listed for $490K, Sundial #J407 2/2 listed for $539K, Sayana #103 2/2 listed for $715K, Sandals #D 4/3 listed for $1.975M.

5 closed sales: Mariner Pointe #732 2/2 $369.5K, Sunset South #1C 2/2 $424K, Pointe Santo #E32 2/2 $695K, Compass Point #133 2/2 $1.1295M, Sanibel Seaview #B1 3/3 $1.35M.

HOMES

8 new listings: 1434 Sand Castle Rd 3/2 $575K, 9247 Dimmick Dr 3/2 $629K, 2569 Coconut Dr 2/2 $639K, 1284 Par View Dr 2/2 $649K, 949 S Yachtsman Dr 3/2 $775K, 1529 Sand Castle Rd 3/2 $787.5K, 201 Violet Dr 3/2 $895K, 297 Ferry Landing Dr 3/3 $1.389M.

1 price change: 1526 Bunting Ln 5/3 now $525K.

9 new sales: 966 Fitzhugh St 2/1 listed for $299.9K, 966 Greenwood Ct 3/2.5 half-duplex listed for $398.5K, 2011 Mitzi Ln 2/1 listed for $435K, 2551 Sanibel Blvd 3/2 listed for $489K, 1278 Sand Castle Rd 4/3 listed for $749K, 705 Oliva St 3/2 listed for $799K, 512 Periwinkle Way 3/3 listed for $925K, 235 Daniel Dr 3/2 listed for $1.195M, 1307 Seaspray Ln 4/3.5 listed for $1.595M.

4 closed sales: 950 Sand Castle Rd 3/2 $485K, 791 Pen Shell Dr 4/3 $1.1M, 2520 Harbour Ln 3/2.5 $1M, 909 Lindgren Blvd 4/3 $1.1427M.

LOTS

Nothing to report.

Captiva
CONDOS

No new listings.

4 price changes: Bayside Villas #5144 1/2 now $275K, Beach Villas #2618 2/2 now $665K, Ventura Captiva #5B 3/3.5 now $985K, Lands End Village #1667 2/2 now $1.095M.

No new or closed sales.

HOMES

1 new listing: 17020 Captiva Dr 7/8/2 $6.75M.

1 price change: 16660 Captiva Dr 5/5.5 now $14.85M.

1 new sale: 16447 Captiva Dr 7/6/2 listed for $2,999,999 (short sale).

1 closed sale: 1114 Schefflera Ct 4/3.5 $1.699M.

LOTS

Nothing to report.

Looking to talk about island real estate this weekend?

Call SanibelSusan (888-603-0603 or 239-472-HOME (4663).

Some of the best island deals can be made this time of the year!

Mother’s Day Weekend – Real Estate Happenings on Sanibel & Captiva Island

Posted on May 9, 2014 by SanibelSusan

With Mother’s Day just around the corner, it was another week of fabulous weather on Sanibel and Captiva Islands – bright blue skies, gorgeous teal gulf waters, unobstructed sunrises and sunsets, and temperatures in the 60’s/70’s at night and 80’s/90’s almost every day.

Donax Street Beach Access Today 05-09-14 at 2 p.m.

This also was the first week of 2014’s real estate “off-season”, with no Association of Realtors® Caravan meeting yesterday and very few showings this week. It’s true what the locals say about May and October being some of the best months to be on the islands – nice weather, little traffic, no waits, and lower rental rates – just not a lot of real estate action then.

Our pals in the vacation accommodation business advise that Sanibel is at only about 45% occupancy now. May is expected to be quiet right up until Memorial Day weekend, but reservations pick up in June when schools are out and families begin their summer vacations.

Beach in front of West Wind Inn on Tues 05-06-14 at 1 p.m.

Below are a couple of new items followed by the action over the last seven days posted in the Sanibel & Captiva Islands Multiple Listing Service.

Survey: More Owners Think It’s a Good Time To Sell

Here is some good news that FloridaRealtors® posted on line yesterday:

“Americans’ outlook toward the housing market continued to improve in April – and perhaps foreshadow an increase in housing activity in the coming months – according to results from Fannie Mae’s April 2014 National Housing Survey.

“The share of respondents who believe it’s a good time to sell a home increased for the third consecutive month to an all-time high of 42%, an encouraging sign since many potential homebuyers will need to sell a home before entering the purchase market.

“In addition, the share of respondents who say it’s a good time to buy a home remained steady at 69% following a gradual climb since the beginning of the year. Notably, although consumers remain generally split regarding their ability to get a mortgage, fewer respondents are concerned about losing their job – which may encourage potential homebuyers to enter the market.

“”Consumer attitudes about the current home selling environment have improved and now are at the most favorable level we’ve seen in the survey’s four-year history,” says Doug Duncan, senior vice president and chief economist at Fannie Mae. “These results are in line with our expectations for increased housing activity and gradual strengthening of the housing market going into the spring and summer selling season.””

Luxury Home Sales Soar Above Historical Average

When I read the following Realtor®Mag on-line article this week, it crossed my mind that Sanibel sales this year mirrored some of these findings.

“Affluent buyers are feeling bullish about housing, as luxury home sales skyrocket, Bloomberg reports. Million-dollar homes in the U.S. are selling at double their historical average, according to data released by the National Association of REALTORS®.

“Sales of homes that cost $1 million or more increased 7.8% in March compared to a year earlier. Meanwhile, sales of homes that cost $250,000 or less — which represent about two-thirds of the housing market — dropped 12% in March year-over-year. “The real estate market is the ultimate reflection of confidence, wealth, and income,” says Sam Khater, deputy chief economist at CoreLogic.

“Transactions for homes costing $2 million or more soared 33% in January and February compared to a year earlier, according to an analysis by DataQuick of 25 of the top U.S. metro areas. The transactions were the highest for a two-month period since DataQuick began its tracking in 1988.

““The luxury markets are on fire,” Christie’s International CEO Bonnie Stone Sellers told Bloomberg. “The trends in luxury housing are similar to trends in other luxury goods. Whether you’re buying a third home in Manhattan as a pied-a-terre or another Picasso, these are acquisitions of passion, of lifestyle, and of experience.”

“There have been some blockbuster sales recently. The latest to grab headlines was the $147 million sale of an East Hampton’s property, which now carries the title as the priciest home sale ever in the U.S. This came two weeks after the sale of a single-family home in Greenwich, Conn., known as Copper Beech Farm shattered home records at the time at $120 million.

““The stock market is very strong, and this is a way to monetize and concretize some gains,” says Gary Wasserman, CEO of Allied Metals Corp., who is looking to boost his personal real estate portfolio. “We had quite a shock to our collective confidence in 2008 and 2009. The resurgence of the economy has underscored for us that this country remains a very strong place, and that the future remains strong.”

Source: “Million-Dollar Home Sales Thrive While Low End Stumbles,” Bloomberg Businessweek (May 2, 2014).”

10 Energy-Saving Tips for a Hot Summer

While reading my on-line Eco-Broker® newsletter this month, I noticed the following timely article which they sourced to “freshome Design & Architecture”. Since the islands have already had some 90-degree temperatures, these ten energy saving tips may come in handy:

“While we all look forward to the summer months for warmer weather, and enjoying the great summer nights, higher energy bills are not welcomed. Whether you are running your air conditioning more often, using more water to take showers, or you’re using more electricity to run fans to get a cool breeze, energy saving tips can help your pocket and the Earth. This summer before you crank down the air conditioning another 10 degrees, look to these energy saving tips to help you through this hot summer, your pocket will thank you!

“1. Replace your outdated air conditioning unit: If you live in a home that is over 20 years old, it may be time to consider purchasing a new unit that is more energy efficient. Even if you have lived in your home for a shorter period, but live in extreme climate areas, such as desert communities, also consider replacing your unit. Look for units that cost less to run and have energy approved program standards. This can differ depending on your geographic location.

“2. Alternate methods of cooking: Instead of using your oven everyday, consider using your microwave or grilling outside this summer. Heating your oven up daily adds more heat to your interiors and therefore requires your air conditioning cooling system to work harder and longer. If you do need to use your oven, consider baking in the morning hours when your air conditioning may not need to be used and it’s cooler outside.

“3. Automate your thermostat: If you are still using a manual thermostat to adjust the air conditioning in your home, consider replacing with an automatic one that can be programmed to keep your home warmer when you are not home. Then in turn, you can program it to come on before the family gets home.

“4. Keep the hot sun out of your home: When leaving your home, or in times of the day when the sun is at its hottest, pull your window treatments closed to block out warm rays. Your interior spaces will feel cooler and your air conditioner won’t work as hard.

“5. Give your air conditioning a break: Using a ceiling fan to move air around in your home instead of air conditioning can give a much needed break to your air conditioning. Save energy and cool your space down for less money with the use of oscillating room and ceiling fans.

“6. Take cooler and shorter showers: When taking a shower in your home, turn down the temperature of the hot water to save energy. Decrease the duration of how long you stay in the shower to save on your hot water tank usage. Consider installing a tankless water heater to heat water only when needed, as opposed to an entire tank, which sits in your garage, basement or utility space.

“7. Install more energy-efficient light bulbs: Change out your current incandescent bulbs to more efficient ones, for example: compact fluorescent bulbs use less energy to use as well as emit a brighter light. They also last longer, and therefore need to be replaced less often, in turn saving you money.

“8. Have you air conditioning unit serviced regularly: Ensure that you keep your air filters changed regularly per the manufacturers directions, and have a professional HVAC maintenance person service your unit every year. This will help your investment keep working properly for years into the future, while saving you money now.

“9. Ensure your air conditioning pipes are sealed: Examine the pipes, and connections, as well as vents in your home to ensure proper sealing and caulking between the connections. What’s the point in cooling your home, if half of the cool air is cooling the attic? If you’re not familiar with how to do this, have the HVAC maintenance person help you.

“10. Spend more time outside of your home: Summertime is a perfect excuse to get out and enjoy it! From swimming in community pools to having a picnic or getting exercise outdoors, spending less time in your house will help your energy consumption bill. While you can’t spend every minute outdoors, the summer weather should push you to the outdoors.

“Saving energy this summer shouldn’t be a major challenge. Use these 10 helpful energy saving tips to protect your wallet, save the Earth and keep you and your family cool this summer. There are hundreds of ways to save energy, do your part in making this summer enjoyable for all, and by keeping your energy consumption to minimum levels to give your pocket a break too!”

U.S. Climate Report Says Global Warming Impact Already Severe

Here are some excerpts from an article by Darryl Fears published in the “Washington Post” on Tuesday. Though this topic is not complete real estate related, perhaps these snippets will be a wake-up call to some.

“Global warming is rapidly turning America the beautiful into America the stormy, sneezy and dangerous.”

“The government’s newest national assessment of climate change declares that increased global warming is affecting every part of the United States. The report released Tuesday cites wide and severe impacts: more sea-level rise, flooding, storm surges, precipitation and heat waves in the Northeast; frequent water shortages and hurricanes in the Southeast and the Caribbean; and more drought and wildfires in the Southwest.

“Temperatures at sea, on land and on ice all point to a warming trend over the past century, according to several indicators in the government’s National Climate Assessment. “For a long time, we have perceived climate change as an issue that’s distant, affecting just polar bears or something that matters to our kids,” said Katharine Hayhoe, a Texas Tech University professor and a co-author of the report. “This shows it’s not just in the future; it matters today. Many people are feeling the effects.”

“The federal climate assessment — the third since 2000 — brought together hundreds of experts in academia and government to guide U.S. policy based on the best available climate science. The authors of the more-than-800-page report said it aims to present “actionable science” and a road map for local leaders and average citizens to mitigate carbon and other gas emissions that warm the planet….Echoing the findings of a recent global report by climate scientists at the Intergovernmental Panel on Climate Change, U.S. scientists said that the climate is changing in the United States and that the warming of the past 50 years was primarily caused by emissions of heat-trapping gases released by humans. Burning coal for electricity, using gasoline to fuel vehicles, clear-cutting forests and engaging in certain agricultural practices that remove carbon-trapping vegetation contribute to the problem, the assessment said.

“By the end of the century, temperatures could be up to 5 degrees higher, even if the nation acts aggressively to reduce greenhouse gas emissions. It could be up to 10 degrees hotter if emissions are high. The higher the temperature, the more dire the impact. Extreme weather in the United States caused by climate change has increased in recent decades, the report said.

“The decade starting in 2000 was the hottest on record, and 2012, the year Hurricane Sandy followed an epic summer drought, was the hottest ever recorded in the nation’s history, the report said. U.S. temperatures are 1.3 degrees to 1.9 degrees Fahrenheit higher now than they were in 1895, and most of that increase — 80% — occurred over the past 44 years, the assessment says.

“Alaska warmed twice as fast as the rest of the country in the past 60 years, leading to permafrost thaw that is causing highways and even airport runways to sink.

“The authors pointed to major concerns for the mid-Atlantic region, which includes the District, Maryland and Virginia. “As sea levels rise, the Chesapeake Bay region is expected to experience an increase in coastal flooding and drowning of wetlands” that protect against storm surge, the report said. That’s especially bad because the lower bay region is at higher risk as a result of sinking land. Water quality would decline and low-oxygen “dead zones” would increase.

“If there are higher greenhouse gas emissions, the majority of Maryland and Delaware, and parts of West Virginia and New Jersey, are projected to have 60 extra days per year of temperatures topping 90 degrees starting around the middle of the century, the report said.

“The effects sound alarming, but there are reasons to be optimistic that they can be mitigated, said David Wolfe of Cornell University, a lead co-author of the report’s chapter on change in the Northeast.

Business leaders are looking more toward investments in renewable energy, he said. This report, unlike the first two, has a Web site with interactive tools that show Americans how to reduce climate impacts.

“It will be a living document, a resource for people,” he said. “It’s a place to start….”

“The climate experts worked for several years, holding 70 workshops nationwide and revising the final drafts to reflect thousands of public comments. They were guided by a 60-member panel called the National Climate Assessment and Development Advisory Committee.

“Climate change is leading to heat-stress events, forcing people with respiratory illnesses to turn to devices such as inhalers or to hospitals, the federal assessment said. It is resulting in more severe allergies and waterborne illnesses as pathogens increase. Minority communities are particularly vulnerable….

“Thirty percent of carbon released into the atmosphere ends up in the ocean, leading to acidification that’s killing coral and shell life. Coral protects young fish from predators, and tiny shellfish, at the bottom of the food chain, help feed entire ecosystems….”

Sanibel & Captiva Islands Multiple Listing Service Activity May 2-9, 2014

Sanibel

CONDOS

3 new listings: Captains Walk #A2 1/1 $259K, Sundial #K105 2/2 $888K, Sanibel Seaview #C3 4/4 $2.2M.

4 price changes: Sundial #C301 1/1 now $325K, Sundial #I301 1/1 now $350K, Shell Island Beach Club #5D 2/2 now $759K, Sayana #202 2/2 now $859K.

1 new sale: Sunset South #1C 2/2 listed for $439K.

4 closed sales: Mariner Pointe #1091 2/2 $375K; Sanibel Moorings #422 2/2 $449,999; Lighthouse Point #130 2/2 $440K; Beachcomber #C302 2/2 $1.6225M.

HOMES
2 new listings: 705 Oliva St 3/2 $799K, 5076 Joewood Dr 3/2 $975K.

9 price changes: 966 Fitzhugh St 2/1 now $299.9K; 5289 Umbrella Pool Rd 3/2 now $499,995; 2079 Wild Lime Dr 3/2 now $549K; 3001 Singing Wind Dr 3/2 now $559,555; 1744 Bunting Ln 4/2 now $599.7K; 497 Lake Murex Cir 4/3 now $715K; 987 Sand Castle Rd 4/3.5 now $729K; 4500 Waters Edge Ln 2/2 now $799K; 1206 Bay Dr 4/4.5 now $2.995M.

6 new sales: 2007 Mitzi Ln 3/2 listed for $399K, 736 Cardium St 3/2 listed for $439K, 1777 Serenity Ln 5/4.5 listed for $779K, 2667 Coconut Dr 3/3 listed for $825K, 4781 Tradewinds Dr 3/2 listed for 1.595M, 1077 Bird Ln 4/4/2 listed for $5.999M.

8 closed sales: 1846 Ardsley Way 2/2 $319.9K, 531 Birdsong Pl 3/2 $419K, 1121 Skiff Pl 3/2 $500K, 710 Pyrula Ave 2/2 $569.5K, 1356 Tahiti Dr 3/2 $645K, 4472 Waters Edge Ln 3/3 $700K, 1818 Buckthorn Ln 3/3 $850K, 5795 SanCap Rd 3/3 $990K.

LOTS

1 new listing: Beverly Ln, Lot 19 $196K.

No price changes.

2 new sales: 4309 Gulf Pines Dr listed for $299K, 1042 Blue Heron Dr listed for $449K.

2 closed sales: 3334 Saint Kilda Rd $280K, 1837 Buckthorn Ln $314.5K.

Captiva
CONDOS

1 new listing: Bayside Villas #5316 3/3 $639K.

No price changes or new sales.

1 closed sale: Marina Villas #708 2/2 $557.5K.

HOMES

1 new listing: 11547 Captiva Dr 2/2 $1.375M.

No price changes.

1 new sale: 16464 Captiva Dr 8/8.5 listed for $7.995M.

1 closed sale: 11541 Laika Ln 4/4 $1.65M.

LOTS

Nothing to report

Happy Mother’s Day Weekend to all

It’s Still a Great Time to Buy Island Real Estate as the Month of May Begins with Great Weather on Sanibel & Captiva

Posted on May 2, 2014 by SanibelSusan

As SanibelSusan wraps up another real estate week on the island, there are 25 finalized Sanibel sales to report: 17 condos and eight homes. Two of the condos were SanibelSusan listings.

Those closings bring total Sanibel closed sales year-to-date up to 154 (69 condos, 75 homes, and 10 lots). Another 85 Sanibel properties are under contract (31 condos, 50 homes, and 4 lots). The total number of closed sales year-to-date are just a tad ahead of last year when 148 properties had sold by now (52 condos, 86 homes, and 10 lots). This winter the most popular product was high-end condos.

Our weekly report below describes the activity posted in the Sanibel & Captiva Islands Multiple Listing Service over the last seven days, including our new listing at Mariner Pointe. (Below is a slide show of some of the amenities at Mariner Pointe.)

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First some island and real estate news:

Dunes Traffic Study Results

In preparation for The Dunes roads being resurfaced in the summer of 2015 (a project expected to cost in excess of $700,000) and as follow-up on the concerns of some residents that their community is being used as a “cut-through” for commuters during “season”, the City performed a traffic study of The Dunes and nearby roadways in March.

The results of the study were presented in a special meeting at The Dunes Pavilion this week when it was reported that 64% of the vehicles accessing the Dunes during the study’s peak period (4-6 p.m. March 19-21) were “pass-through” traffic.

Sanibel Public Works Director, Keith Williams, who spoke during the meeting, said “That total is higher than your typical neighborhood, but it doesn’t appear that speeding is an issue here, although we have heard several complaints about that.” Interestingly, the study also concluded that through-out the 2-hour peak period, eastbound traffic along Periwinkle Way averaged 5 miles per hour. Many Dunes residents at the meeting completed a feedback survey and offered suggestions.

Island Night – Save the Date

Sanibel’s 21st Island Night is Wednesday, June 4. This is the 21st year of the celebration which in 2004 was renamed Sam Bailey’s Island Night in honor of Sam whose vision was to bring the island communities together for a common purpose.

The fun begins at Hammond Stadium at 6:15 p.m. with a parade around the ball field.

The game is at 7:05 p.m. with the Fort Myers Miracle versus the Lakeland Flying Tigers.

Free tickets are available from sponsors and at Bailey’s General Store. Contributions, which have totaled more than $150K over the years, have been distributed to help many local organizations, non-profits, and scholarships.

Mark your calendar on June 4 to enjoy a fun-filled night with the locals – camaraderie, baseball, your favorite ballpark concessions, plus cake from The Bubble Room!

Housing Recovery Ending? Not Yet

“Realtor®Mag” on-line posted the following article last Friday:

“”Several housing reports out this week have painted a picture of a sluggish start to the spring-selling season. New-home sales plunged 14.5% in March, reaching the lowest level in eight months, according to the Commerce Department. Existing-home sales posted a slight drop in March, falling 0.2% from February, but the sales volume was at its lowest point since July 2012, according to the National Association of REALTORS® (NAR).

“So is the housing recovery ending? Not yet, housing experts say.

“Several challenges persist: Low housing inventories, tight access to mortgage financing — particularly for first-time home buyers — and the decrease in housing affordability as home prices and mortgage rates rise, notes Rick Sharga, an executive vice president at Auction.com who used to be an exec at Carrington Mortgage Holdings and RealtyTrac.

“Still, Sharga says the recovery remains on track. “This feels like a relatively normal market correction,” he notes in a column for HousingWire. “Prices rose rapidly and have stayed high due to limited inventory, causing affordability issues for potential home buyers. This has created a bit of a lull in terms of sales volume, but prices continue to go up, albeit more slowly. That, in turn, will create more positive equity and eventually result in more homes — existing and new — on the market, which will cause prices to soften, hopefully in tandem with somewhat more lenient lending practices.”

“Lawrence Yun, NAR’s chief economist, also sees an uptick in housing in the months ahead.

“With ongoing job creation and some weather-delayed shopping activity, home sales should pick up, especially if inventory continues to improve and mortgage interest rates rise only modestly,” he says.”

The Worst Is Over, But the Best Is Nowhere Near

Another “Realtor®Mag” article posted on-line this week offered good follow-up to the article above, when at a recent legislative and leadership summit for real estate managers, economists and industry leaders, NAR Chief Economist Lawrence Yun had more to say:

“The country isn’t likely to fall into a repeat recession, NAR chief economist Lawrence Yun told real estate management professionals meeting in Washington, D.C., last week. But that’s hardly cause for celebration among economists.

“On the plus side, the country has added nearly 8 million jobs, replacing all those lost during the downturn, Yun said. Growth in consumer spending and high household net worth also bode well for the economy.

“However, Yun was quick to stress, the economy is not thriving by any means. Business spending is growing at the slow, steady rate of 2%, he said, rather than a sustained 5% to 10% rate that would suggest real economic growth. Yun said businesses are “flush with cash.” While corporations typically leverage funding to outspend profit levels, recent data shows business spending and profits to be nearly equal, as executives are leery of overspending. This has resulted in improved balance sheets for most organizations, including banks.

“Yun’s comments came during the Institute for Real Estate Management’s 2014 Legislative and Leadership Summit held April 5-9.

“Diving into real estate industry data, Yun said commercial real estate is slowly recovering from 2009, when transactions declined by 90%. Multifamily has steadily outshined the other sectors, partly because of the inability of many renters to convert to home ownership.

“Another factor contributing to the strong performance of multifamily real estate is the lack of supply. “New construction in all sectors has yet to recover in any meaningful way,” Yun said. Housing construction, in particular, would need to rise by more than 50% to be restored to previous levels. This persistent under production of single-family and multifamily housing will continue to lead to low vacancy rates and rising rents for this sector, Yun said.

“After sharing the market outlook, Yun was joined by real estate industry leaders Jeff Day, CEO of Berkeley Point Capital LLC, and Jonathan Miller, partner at Miller Ryan LLC and author of the Urban Land Institute’s Emerging Trends in Real Estate.

“When asked where he would invest in the current market, Miller stressed the desirability of “24-hour cities — large cities in global pathways linked by international transportation hubs.” According to Miller, this is where the major part of the economy is growing and where most institutional and foreign capital is concentrated. Other areas are more lackluster, he said, with both market prices and rents for office buildings remaining stagnant for up to two decades in some cases. “It’s a have and have-not situation,” Miller said.

“Still, the panel said the big-city model is being successfully replicated in smaller markets, such as Reston, Va., where a town center is home to a vibrant community with condominiums, movie theatres, and other retail spaces, attracting young professionals.

“Yun predicted that both the Millennial and boomer generations will contribute to the desirability of condominiums in these 24-hour cities. “I’d invest in 24-hour cities that are developing. Look at areas where traffic is getting worse,” Yun said. “Build condos in 24-hour cities. Apartments are already there, but there is a pent-up demand for condos. A sizable number of renters will want to convert over to ownership. Therefore, property management of condos will be rising.”

“The panel also forecast continued economic success in Texas cities and up through the middle of the country in the so-called “energy states.”

“Addressing office-sector trends, Day told the audience to look for more amenities being offered on business campuses. The new model is to “glue them to the campus with dry cleaning, food, and so forth,” Day said, allowing workers to interact and complete personal business on-site.

“When asked about the demand for green features in commercial real estate, panelists agreed that generally, lenders are interested in making sure they make loans on sustainable income streams. To that end, green features can be desirable, but factor into more of a capitalistic decision than an altruistic one.

“Ultimately, the panelists agreed, the outlook for commercial real estate is good, with all sectors in recovery mode. Money is flowing again, they said. This will lead to continued growth in the industry — and demand for professional real estate managers to keep things operating strongly.”

Countries Where There’s a Rush for U.S. Real Estate

If you missed the “24/7 Wall Street” article earlier this month, here is how it was reported in on-line “Daily Real Estate News” on April 15. Made me think about how my advertising budget is reaching these buyers.

“Foreign buyers are being lured to U.S. real estate due to what they perceive as bargain prices, economic stability, and a “safe haven for investors,” 24/7 Wall St. reports. Interest in U.S. real estate from international buyers in ten countries has soared since 2009 by 95% or more. In nine of those countries, the interest has at least doubled, according to data from RealtyTrac. “The U.S. real estate market is coming off of a rough patch and entering recovery mode,” says Daren Blomquist, RealtyTrac’s vice president. “International buyers see it as a great time to jump in and catch the U.S. market on the upswing.” 24/7 Wall St. compiled data from RealtyTrac to find that the following countries are showing the highest increases in interest in purchasing American homes.

United Arab Emirates: Growth in prospective home buyers: 352.2%, Share of international prospective buyers: 1.1% (12th highest)
Switzerland: Growth in prospective home buyers: 269.7%, Share of international prospective buyers: 2.1% (8th highest)
Hong Kong & China: Growth in prospective home buyers: 254.2%, Share of international prospective buyers: 4.1% (4th highest)
France: Growth in prospective home buyers: 190%, Share of international prospective buyers: 2.8% (6th highest)
Italy: Growth in prospective home buyers: 178.4%, Share of international prospective buyers: 1.9% (10th highest)
United Kingdom: Growth in prospective home buyers: 153.8%, Share of international prospective buyers: 12.1% (2nd highest)
Australia: Growth in prospective home buyers: 121.9%, Share of international prospective buyers: 11% (3rd highest)
Canada: Growth in prospective home buyers: 107.7%, Share of international prospective buyers: 45% (the highest).”

Homes Are Getting Bigger

There were some fun statistics posted in the May issue of “Florida Realtor®” magazine that arrived this week. This info is according to Census Bureau data and the National Association of Home Builders (NAHB).

The average new-home size has continued to rise, from 2,362 sq. ft. in 2009 to 2,679 sq. ft. in 2013.
The share of new homes with at least four bedrooms has risen from 34% in 2009 to 48% last year.
From 2005 to 2011, the number of annual new-home sales has dramatically declined, from 1.28 million to 306,000.

Lee County Meeting Venues

Occasionally, I am asked, “Where could my company hold a business meeting or conference on Sanibel?”

That’s a tough question if your company is a large one, as even our 350+member local Association of Realtors® has had trouble through the years finding spots to hold our weekly caravan and membership meetings.

Several years ago, the Association purchased the commercial strip mall where Finnimore’s Cycle Shop is located and converted the upper floor into conference spaces and meeting rooms.

The April issue of “Gulfshore Business” magazine listed the largest Southwest Florida meeting venues.

Here are the ones in Lee County.

Note that only Sundial Beach Resort is on Sanibel and South Seas Island Resort on Captiva.

Sanibel Harbour is nearby, close to the toll booth before the causeway.

“Germain Arena: 171,000 sq. ft.
Alico Arena: 120,000 sq. ft.
Lee Civic Center: 90,000 sq. ft.
Hyatt Regency Coconut Point Resort & Spa: 73,000 sq. ft.
Sanibel Harbour Marriott Resort & Spa: 45,000 sq. ft.
Harborside Event Center: 42,000 sq. ft.
Broadway Palm Dinner Theatre: 36,000 sq. ft.
South Seas Island Resort: 28,000 sq. ft.
Sidney Berne Davis Art Center: 10,000 sq. ft.
Sundial Beach Resort: 10,000 sq. ft.
The Westin Cape Coral Resort at Marina Village: 10,000 sq. ft.
Crowne Plaza Fort Myers at the Bell Tower Shops: 8,500 sq. ft.
DiamondHead Beach Resort: 8,000 sq. ft.
Holiday Inn Airport @ Town Center: 7,000 sq. ft.

Sanibel & Captiva Islands Multiple Listing Service Activity April 25-May 2, 2014

Sanibel

CONDOS

4 new listings: Sanibel Arms West #J4 2/2 $475K, Mariner Pointe #811 2/2 $499K (our listing), Sanibel Siesta #308 2/2 $500K, Pointe Santo #A21 2/2 $819K.

3 price changes: Sundial #H111 1/1 now $279K, Coquina Beach #5D 2/2 now $375K, Sunset South #1C 2/2 now $439K.

2 new sales: Breakers West #B5 2/2 listed for $459K, Sandpiper Beach #302 2/2 listed for $599K.

17 closed sales: Donax Village #9 1/1 $248K, Captains Walk #C1 2/1 $280K, Sundial #H107 1/1 $298K, Beach Road Villas #104 2/2 $313K (our listing), Kimball Lodge #263 1/1.5 $314K, Beach Road Villas #102 2/2 $330K, Seawind #102 2/2.5 $380K, Sundial #J108 2/2 $460K, Compass Point #212 2/2 $520K, Sundial #Q302 2/2 $625K, Nutmeg Village #105 2/2 $650K, Loggerhead Cay #121 2/2 $699K, Surfside 12 #C3 3/2 $750K, Sanibel Arms #F8 2/2 $775K, Kings Crown #302 2/2 $890K (our listing), Janthina #1A 3/2 $1.03M, Sedgemoor #103 3/3.5 $2.35M.

HOMES

7 new listings: 966 Greenwood Ct 3/2.5 Half-duplex $398.5K; 2098 Wild Lime Dr 2/2 $435K; 320 Palm Lake Dr 2/2 $439K; 1841 Ibis Ln 2/2 $458K; 490 Christine Rd 2/2 $629,555; 3131 Twin Lakes Ln 3/2 $724,999; 842 Limpet Dr 3/3.5 $1.675M.

6 price changes: 421 Lake Murex Cir 3/2 now $515K, 1294 Sand Castle Rd 3/2 now $529K, 9228 Belding Dr 2/1.5 now $545K, 4563 Brainard Bayou Rd 3/2 now $599K, 4648 Buck Key Rd 3/2 now $685K, 1206 Bay Dr 4/4.5 now $3.15M.

8 new sales: 553 Lake Murex Cir 3/2 listed for $579K, 1019 Lindgren Blvd 3/2 listed for $769K, 1130 Seagrape Ln 4/3 listed for $799K, 2552 Harbour Ln 3/2 listed for $895K, 1001 Kings Crown Dr 3/2.5 listed for $899K, 395 Old Trail Rd 5/4 listed for $899K, 6010 White Heron Ln 3/2.5 listed for $959K, 9007 Mockingbird Dr 3/3 listed for $1.075M.

8 closed sales: 1252 Sand Castle Rd 3/2 $500K, 710 Pyrula Ave 2/2 $569.5K, 460 East Lake Rd 2/2 $589K, 5307 Ladyfinger Lake Rd 3/2.5 $575K, 977 Black Skimmer Way 3/2 $570K, 923 Pepper Tree Pl 3/2 $700K, 5049 Joewood Dr 6/7.5 $3.8M, 906 Snowberry Ln 4/4.5 $4.1M.

LOTS

Nothing to report.

Captiva
CONDOS
Nothing to report.

HOMES

No new listings.

1 price change: 16249 Captiva Dr 3/3 now $2.375M.

1 new sale: 15361 Captiva Dr 5/4 listed for $2.595M.

1 closed sale: 17201 Captiva Dr 4/5.5 $3M.

LOTS

Nothing to report.

Here’s to another cheerful Friday on Sanibel Island! Cheers! Susan

“Best Weather” Month Coming Up on Sanibel Island

Posted on April 25, 2014 by SanibelSusan

It is official. “high season” in Florida is over. Real estate inquiry calls have slowed down and I heard that even internet and foot traffic at the Chamber of Commerce suddenly has dropped off. After 22 years on Sanibel, it still is always amazing how fast the islands go from gridlock to quiet. Related mostly to school breaks ending and spring weather arriving elsewhere, I guess. Too bad, as the month of May often has some of the “best” weather!

Yesterday at the Sanibel & Captiva Islands Association of Realtors® Thursday Caravan Meeting only one house was on tour, again indicative of the time of the year. Attendance was down too, with almost as many affiliate business partners there as real estate agents. Beginning May 1, these meetings will revert to the every-other-week off-season schedule. Between now and summer, the islands usually experience a return of prospective buyers who did not buy during the winter – often because they could not view all of the properties that interested them. SanibelSusan Realty associates are ready for them.

Below are a few news items, followed by an update of the Sanibel and Captiva Islands Multiple Listing Service action over the last week. Of the two island condo closings this week, one was ours. We also had the only lot sale closing.

Sea Turtle Nesting Season Begins May 1

Baby loggerhead

The 2013 sea turtle nesting season on Sanibel and Captiva was the 3rd highest season on record according to the May-June issue of SCCF’s (Sanibel-Captiva Conservation Foundation) “Member Update”. Last summer 26,641 live hatchlings were produced from the islands’ two beaches. Of the 483 nests documented, 23 were by green sea turtles

SCCF also announced that Sanibel and Captiva now are using the online nesting and stranding databases found at www.seaturtle.org. This means that when the 2014 sea turtle season begins, the nesting data may be viewed in real-time throughout the season.

Sea turtles are among the world’s oldest creatures. On Sanibel and Captiva where the beaches provide subtropical nesting areas for threatened loggerhead and endangered green turtles, more than 100 island residents volunteer each summer as part of SCCF’s Sea Turtle Research and Monitoring Program which operates under a permit from the Florida Fish and Wildlife Conservation Commission.

Each day during nesting season, May to October, the 18 miles of Gulf beaches from Sanibel Lighthouse to the tip of Captiva are checked beginning at dawn. Nests are identified and marked for monitoring and protection. Later in the season, new hatches are evaluated and recorded.

If your property is on the beach, remember sea turtles are threatened by light pollution. Bright lights can disorient nesting egg-laden female turtles. For hatchlings, instinct drives them from their nests on beaches towards the brightest horizon, ideally the waterline on an undeveloped coast. Lighting from buildings or even flashlights confuses nesting females and hatchlings, so please keep those lights out.

Sanibel’s city web site, www.mysanibel.com has an easy way to test if your property is in compliance with the City’s sea turtle protection ordinances:

“Stand on the beach on a moonless night and look seaward. If you can see your shadow cast towards the water, there is too much light behind you.” Check the web site for more info.

Americans Prefer Real Estate Over Stocks, Gold

Like my Dad always said, “Put your money into real estate!”

“RealtorMag” on-line posted the following article from a Gallup (Poll) article (Apr 17, 2014):

“Americans have renewed confidence in real estate as a great investment. In fact, Americans believe real estate is the “best” long-term investment, followed by gold, stocks, mutual funds, savings accounts/CDs, and bonds, according to a new Gallup Poll of … adults who were asked to choose the best option for long-term investments. Bonds were the least favorite investment among the options Gallup surveyed.

In 2011, Americans surveyed said the most popular long-term investment was gold. That also marked a time when gold was at its highest price and real estate and stock values were lower than today, Gallup notes.

““With housing prices improving across the country, Americans are regaining faith that real estate is the best choice for long-term investments,” according to Gallup. “Home ownership is also associated with views of real estate as an attractive investment opportunity.”

“Americans with higher incomes are the most likely to say real estate and stocks are the best investments – “possibly because of their experience with these type of investments,” according to the Gallup poll.

“Higher income Americans are most likely to say they own their home (at 87%), followed by middle-income earners (at 66%) and lower-income earners (36%).

“Home owners are slightly more likely than renters to say real estate is the best choice for long-term investments – 33% versus 24%, respectively, according to the Gallup poll.”

Earth Day & Your Diet

SanibelSusan’s EcoBroker certification requires renewal each year about the same time as Earth Day. With that renewal comes an educational update, so when I did that class work this week, I also read several of postings about Earth Day. Here is an extract from “National Geographics” with some of their Water Conservation Tips. These interesting facts were posted under their subheading, “Diet”:

“The water it takes to produce the average American diet alone—approximately 1,000 gallons per person per day—is more than the global average water footprint of 900 gallons per person per day for diet, household use, transportation, energy, and the consumption of material goods.

“That quarter pounder is worth more than 30 average American showers. One of the easiest ways to slim your water footprint is to eat less meat and dairy. Another way is to choose grass-fed, rather than grain-fed, since it can take a lot of water to grow corn and other feed crops.

“A serving of poultry costs about 90 gallons of water to produce. There are also water costs embedded in the transportation of food (gasoline costs water to make). So, consider how far your food has to travel, and buy local to cut your water footprint.

“Pork costs water to produce, and traditional pork production (to make your sausage, bacon, and chops) has also been the cause of some water pollution, as pig waste runs into local water sources.

“On average, a vegan, a person who doesn’t eat meat or dairy, indirectly consumes nearly 600 gallons of water per day less than a person who eats the average American diet.

“A cup of coffee takes 55 gallons of water to make, with most of that H2O used to grow the coffee beans.”

Many HOAs Are Underfunded

A step in the home buying process should always include a review of the association documents including their financials. The following article posted on Apr 22, 2014 at on-line “Daily Real Estate News” and sourced to “Kiplinger’s Personal Finance” (April 2014) describes why:

“More homeowners’ groups may be operating with insufficient reserves, which could one day result in an unexpected increase in costs to home owners.

“An estimated 70% of association-governed communities are underfunded, a rise from 60% a decade ago, according to a new report from the consulting firm Association Reserves. Associations that lack adequate reserves may impose large special assessments for emergency repairs, says Robert Nordlund, Association Reserves’ founder. What’s more, home owners who don’t pay could then face liens against their property, or the association could even have the power to foreclose on them.

“Housing experts urge home buyers to ask for a copy of the homeowner group’s most recent reserve study and ask about the percentage of residents who are more than 60 days delinquent on their fees. It affects the association’s cash flow, and when “you’re buying into a nonprofit corporation, you need to find out if that corporation is stable,” Nordlund notes.

Sanibel & Captiva Islands Multiple Listing Service Activity April 18-25, 2014

Sanibel
CONDOS

2 new listings: Duggers Tropical Cottages #5 1/1 $324.9K, Nutmeg Village #308 2/2 $799.9K.

6 price changes: Spanish Cay #A6 1/1 now $268.5K, Tennisplace #B24 2/1 now $299.9K, Loggerhead Cay #453 2/2 now $499K, Sayana #103 2/2 now $715K, Shorewood #2B 3/3 now $1.395M, Seascape #104 3/3 now $2.2M.

2 new sales: Sanibel Inn #3535 2/2 listed for $699K, Compass Point #133 2/2 listed for $1.185M.

3 closed sales: Sundial #G305 1/1 $310K, Kings Crown #104 2/2 $850K (our buyer), Villa Sanibel #1G 2/2 $870K.

Beach in front of Kings Crown

HOMES

3 new listings: 2551 Sanibel Blvd 2/2 $489K, 1337 Eagle Run Dr 3/2.5 $1.25M, 283 Ferry Landing Dr 3/2 $1.695M.

7 price changes: 5141 SanCap Rd 2/2 now $320K; 989 Dixie Beach Blvd 3/2 now $595K; 1744 Bunting Ln 4/2 now $609.9K; 420 East Gulf Dr 3/3 now $749K; 917 Pepper Tree Place 4/3 now $829,407; 419 Lighthouse Way 4/3 now $859K; 5615 Baltusrol Ct 4/4/3 now $4.399M.

3 new sales: 9263 Kincaid Ct 3/2.5 listed for $449K, 3711 Agate Ct 3/2.5 listed for $799K, 4622 Rue Belle Mer 4/2 listed for $809K.

3 closed sales: 1344 Tahiti Dr 2/1 $410K, 542 Kinzie Island Ct 3/3.5 $1.8M, 4717 Rue Belle Mer 3/3 $1.94M (short sale).

LOTS

1 new listing: 3338 West Gulf Dr $429K.

2 price changes: 2988 Wulfert Rd now $399K, 2993 Wulfert Rd $599K.

No new sales.

1 closed sale: 1118 Sand Castle Rd $165K (our listing).

Lot just sold in The Dunes

Captiva
CONDOS

2 new listings: Lands End Village #1655 2/2 $1.095M, Lands End Village #1657 2/2 $1.095M.

3 new sales: Tennis Villas #3229 1/1 listed for $235K, Ventura Captiva #4B 3/3 listed for $797.5K, Sunset Beach Villas #2338 3/3 listed for $850K.

No new sale.

1 closed sale: Tennis Villas #310 1/1 $200K.

HOMES
No new listings or price changes.

2 new sales: 11541 Laika Ln 4/4 listed for $1.65M, 16645 Captiva Dr 8/9/2 listed for $1.095M.

No closed sales.

LOTS

Nothing to report.

SanibelSusan is ready for May – best weather month on the island!

It’s Almost Easter 2014 on Sanibel Island

Posted on April 18, 2014 by SanibelSusan

It has been the pre-Easter hustle-bustle on Sanibel and Captiva this week, with nice weather and the bike paths often full with vacationing families on spring holidays. Though the islands appear busier, our pals in the accommodations business advise that they are booked at only 75% this week, with about the same occupancy expected next week, after Saturday turn-overs.

At our last end of “season” Association of Realtors® monthly membership meeting yesterday, it was obvious from the announcements that real estate sales have slowed down, price reductions are up, and the business population is looking forward to a little breather.

SanibelSusan put another condo listing under contract on Monday (love it when you can sell a listing yourself) and had a home listing close on Monday too. We held our new listing in Mariner Pointe open for Realtor caravan yesterday.

View from the Captiva house I showed today!

View from a house I showed today!

I was out showing Captiva homes again today. Season may be winding down but we still have buyers in town.

SanibelSusan listings had some showings this week too. None yet scheduled for the holiday weekend, but that can change once new visitors arrive tomorrow. I’ll be working tomorrow and ready for showing requests.

Here are a few news items, followed by the week’s update on the Sanibel and Captiva Islands Multiple Listing Service action.

Earth Day at the Refuge

Earthday2014 Tomorrow, Sat, April 19, J.N. “Ding” Darling National Wildlife Refuge will celebrate the 44th anniversary of Earth Day in partnership with “Ding” Darling Wildlife Society – Friends of the Refuge (DDWS) and Tarpon Bay Explorers. The first 200 visitors will get a free upcycled tee shirt bag, courtesy of DDWS. Throughout the day, visitors will meet and greet refuge educator Bagzilla, costumed in a year’s worth of an average person’s disposable bag consumption. There also are free bike rentals and Wildlife Drive admission for bikers and hikers to encourage visitors to get outdoors and get active. Events include:

7 a.m. to 7 p.m. – Wildlife Dr free to bikers/hikers, only $5 fee per vehicle. Plein-art artists will be painting along Wildlife Dr during the day.
8 a.m. to 4 p.m. – Free bike rentals from Tarpon Bay Explorers at 900 Tarpon Bay Dr (returns by 6 p.m.).
9 to 11 a.m. – Bike the Refuge Tour with a naturalist on the 4-mile drive to learn about bird life and ecology (meet at the flagpole).
10 a.m. to 3 p.m. – Ongoing Earth Crafts in the Education Center Classroom.
10 to 11 a.m. – Guided Hike Along Indigo Trail with a naturalist (meet at the flagpole).
10 to 11:30 a.m., 11:30 a.m. to 1 p.m., 1 to 1:30 p.m., 2:30 to 4 p.m. & 4 to 5:30 p.m. – Narrated refuge tram tours (regular tram fees apply, tickets in booth in parking lot).
11 to 11:30 a.m. – Reading in the Refuge, family story-time about sea turtles at the Education Center Auditorium.
Noon to 12:30 p.m. – Let’s Talk Trash Marine Timeline competition for kids at Education Center Auditorium.
1 to 1:30 p.m. – Reading in the Refuge, family story-time about manatees at the Education Center Auditorium.
2 to 2:30 p.m. – Upcycle Trash. Learn how to turn trash into yarn, jewelry, & other masterpieces at Education Center Auditorium.

Another Update on Flood Insurance

Chris Heidrick, owner of Heidrick & Company Insurance, www.SanibelInsurance.com, one of our Association of Realtors® affiliate business partners, yesterday gave our members a quick update on the national flood insurance program. When the Homeowner Flood Insurance Affordability Act was signed into law on March 21 to repeal the Federal Emergency Management Agency’s authority to increase premium rates when a property is sold (& more), consumers were advised that it would take some time for the government to interpret these changes.

Chris advised us that “36 hours ago” they got that first interpretation (quoted during our 8 a.m. meeting). It is that starting immediately any new flood insurance policies and renewals on pre-FIRM properties (or those built before the initial flood insurance map was used in that community) will not require an elevation certificate and that the pre-FIRM insurance rates will apply. (Note: FIRM = Flood Insurance Rate Map).

That is great news! As an example, Chris described recent quotes he has made for island ground-level homes in the AE Zone (which is typically near beach but not gulf-front), where the flood cost will be $2K-$4K/year.

I expect that Chris will keep us further updated as more interpretations are received.

Lee County Watering Restrictions

To those heading home for the summer, remember that Lee County’s water restrictions remain in effect year-’round. Although the hot summer season is often called the rainy season too, unless you have an eco-friendly landscape, your lawns and vegetation may suffer without proper irrigation. The county rules are:

Odd numbered addresses (those ending in 1, 3, 5, 7, & 9) may only water on Wednesdays and/or Saturdays.

Even numbered addresses (those ending in 0, 2, 4, 6, & 8, or no address #) may water only on Thursdays and/or Sundays.

Approved watering times are between midnight & 9 a.m. &/or between 5 p.m. & midnight. No irrigating is allowed between 9 a.m. to 5 p.m. OR on Monday, Tuesday, or Friday at any time.

If you want to make your yard more environmentally friendly and less water dependent, contact the Native Plant Nursery at SCCF (Sanibel-Captiva Conservation Foundation) at www.sccf.org. They are a wonderful and helpful resource with a “landscaping for wildlife program” too.

Sanibel Author Charlie Sobczak on C-SPAN

After being recommended by Margie Byers of the Lee County Library system, our real estate colleague and island author, Charlie Sobczak will appear on C-SPAN’s BookTV this Earth Day!

The segment, titled “Cities Tour” will focus on the unique literary stories and history of Ft. Myers, FL. Charlie’s book, “The Living Gulf Coast – A Nature Guide to Southwest Florida” will be mentioned, along with two of the destinations from the Lee County section of the book: J. N. “Ding” Darling National Wildlife Refuge and Lover’s Key State Park.

C-SPAN is a private, nonprofit Cable-Satellite Public Affairs Network based out of Washington, D.C. and serves an estimated 100 million homes nationwide. The program is scheduled to air tomorrow and Sunday (April 19th and 20th, 2014) at noon (EST) on C-SPAN2 (Comcast channels 29 and 104 in Ft. Myers but check your cable provider for your local channels). After the broadcast, the segment will be archived and available online from www.series.c-span.org To learn more about the book, go to www.amazon.com or www.indigopress.net.

In Collier County, Charlie also will be speaking at 10:30 a.m., April 19, 2014, at the Conservancy of Southwest Florida’s 50th Anniversary Celebration of Earth Day. The Conservancy is at 1495 Smith Preserve Way, Naples. The topic of the presentation is: Florida’s Wildlife: Past, Present and Future.

SanibelSusan often includes an autographed copy of Charlie’s book “Living Sanibel” (a nature guide to Sanibel & Captiva Islands) as one of their closing gifts. It is one of the best reference books about the area.

Sanibel & Captiva Islands Multiple Listing Service Activity April 11-18, 2014

Sanibel
CONDOS

2 new listings: Sandpiper Beach #202 2/2 $624.9K, Pointe Santo #B4 2/2 $699K.

3 price changes: Sundial #Q202 2/2 now $699K, Sanibel Surfside #133 2/2 now $869K, Seascape #104 3/3 now $2.22M.

6 new sales: Captains Walk #C1 2/1 listed for $310K, Seashells #6 2/2 listed for $369K, Lighthouse Point #130 2/2 listed for $530K, Cottage Colony West #119 1/1 listed for $599K (our listing), Pine Cove #302 2/2 listed for $1.15M, Sanibel Seaview #B1 3/3 listed for $1.395M.
8 closed sales: Sundial #G206 1/1 $280K, Beach Road Villas #103 2/2 $325K, Sundial #I402 1/1 $335K, Island Beach Club #240F 2/2 $515K, Pointe Santo #B25 2/2 $703K, Pine Cove #1A 2/2 $740K, Sanibel Seaview #B2 3/3 $1.325M, Somerset #A301 3/2.5 $1.75M.

HOMES
5 new listings: 1049 S Yachtsman Dr 3/2 $599,555; 1380 Jamiaca Dr 3/2 $619K; 1278 Sand Castle Rd 4/3 $749K; 1058 Fish Crow Rd 4/3 $849K; 821 Sand Dollar Dr 4/4 $1.589M.
10 price changes: 3168 Twin Lakes Ln 3/2 now $599.9K; 1221 Par View Dr 3/2 now $790K; 5313 Punta Caloosa Ct 4/3 now $848K; 1001 Kings Crown Dr 3/2.5 now $899K; 395 Old Trail Rd 5/4 now $899K; 1048 Kings Crown Dr 4/4 now $1,299,999; 1520 Angel Dr 4/3/2 now $1.448M; 6015 Clam Bayou Ln 4/3.5 now $2.498M.
5 new sales: 2186 Egret Cir 3/2 listed for $439K, 950 Sand Castle Rd 3/2 listed for $499K, 9446 Beverly Ln 3/3.5 listed for $599K, (short sale), 2550 Wulfert Rd 4/3.5 half-duplex listed for $698.5K, 2520 Harbour Ln 3/2.5 listed for $1.149M.
4 closed sales: 972 Fitzhugh St 3/2 $358K, 1960 Roseate Ln 3/2 $440K (our listing), 601 Sea Oats Dr 3/2 $540K, 2498 Harbour Ln 4/3 $735K.LOTS
No new listings.
1 price change: 1325 Eagle Run Dr now $475,555.
No new sales.
1 closed sale: 5749 SanCap Rd $365K.

Captiva
CONDOS

1 new listing: Sunset Beach Villas #2325 2/2 $599K.

1 price change: Gulf Beach Villas #2012 2/2 now $662.5K.

No new or closed sales.

HOMES
No new listings.
2 price changes: 43 Oster Ct 2/2.5 now $789.9K, 11490 Dickey Ln 3/2 now $829K.
No new or closed sales.LOTS
Nothing to report.

Happy Easter!

Spring Happenings & More Wonderful Weather on Sanibel Island

Posted on April 11, 2014 by SanibelSusan

Beach in front of our new listing at Sand Pointe, by JMA Photography

It’s SanibelSusan reporting that we experienced a reduction in both island traffic and phone calls this week. The real estate action slowed down some too, but I still managed to write a couple of offers. One remains in the negotiating stages and the other has been accepted verbally. Hopefully, I will have more to say on those next week. My teammates held new condo listings open for Realtor Caravan yesterday with good attendance both from Realtors® and walk-ins. Most likely we will see another spurt of activity over the next week and through the Easter Holiday weekend, but things here are definitely slowing down.

Mariner Pointe fishing pier, by JMA Photography

Here are some news items, followed by the real estate action posted in the Sanibel & Captiva Islands Multiple Listing Service over the last seven days.

Spring Happenings on Sanibel

April 12 – Sat – CROW (Clinic for the Rehabilitation of Wildlife) Antique, Fine Art and Estate Jewelry Sale & Auction at The Community House. This day-long event includes: A “Buy It Now” sale 1 to 7:30 p.m.; professional appraisals being offered 1 to 3 p.m. (up to three items at $5/item, cash only); Live Auction begins at 5:30 p.m.; cash bar & complimentary hors d’oeuvres donated by Island Restaurants beginning at 4 p.m. Admission is $5 donation to CROW.

April 12 – Sat – The Sanibel School Seahorse Festival at The Dunes Golf & Tennis Club, 4 to 8 p.m. Open to the public with family-friendly games & activities on the lawn, plus face painting, silent auction, live band, bounce house, food & refreshments. View & bid on auction items from your Smartphone. Visit www.SanibelSchool.org to view auction items online. The Sanibel School has been awarded the National Blue Ribbon status as a top-performing public school since 2007. Adults free, children $10.

April 12 – Sat – Sanibel Sea School “Octifest” on Causeway Island A at 6:30 p.m. includes evening of cocktails, auction items, sunset, & dinner. Call 472-8585 for reservations.

April 15 – Tues – Captiva Memories: Artists & Authors at The Captiva Community Center at 7:30 p.m. includes a premier screening of a new film by filmmaker Rusty Farst. Commissioned by The Captiva Historic Society capturing oral histories about significant artists and writers who found inspiration and solitude on Captiva (includes interviews about Robert Rauschenberg, Anne Morrow Lindberg, J.N. ‘Ding’ Darling, and Maybelle Stamper. Free and open to the public, but reservations required (call 239-472-2323).

April 16 – Wed – ‘Ding’ Darling Upcycle Art Fest at ‘Ding’ Darling Visitor & Education Center from 9 a.m. to 4 p.m.. Preview the works at www.DingDarlingSociety.org/upcycle-gallery. Activities at the UpCycle include artist exhibits, art sale, make-&-take crafts for kids & adults, & environmental slide presentations. No cost for admission. More info at www.UpcycleArtFest.com.

April 19 – Sat – 20th Annual Children’s Center Spring Festival at Sanibel City Park (across the street from SanibelSusan Realty), 10 a.m. to 1 p.m., includes Easter egg hunt, bounce house, giant slide, sack races, face painting, piñatas, photo booth, silent auction, games, crafts, food, contests, nail painting, & tattoos. Cost is $10 for unlimited activities.

April 19 – Sat – Easter Party at Zebra Frozen Yogurt in the Bailey’s Center from 3 to 4 p.m. with live butterfly release, face painting, goodie bags, games & prizes, & frozen yogurt.

A Cool Mobile App

I read an on-line article this week on “Real Estate News” in the Helpful Tools, Technology & Social Media section of the YPN Lounge of “Realtor®Mag’s” Blogs. YPN is a group within the national and state Association of Realtors®. It stands for “Young Professionals Network”. The Sanibel and Captiva Islands Association recently started a chapter here, but they also call it “Your Professional Network”, so we old duffers who wish we were young also can participate.

The article included info on a couple of “mobile apps that you (and your customers) will love.” It was provided by Anand Patel, broker and president of Pangea Realty Group based in Tampa.

Here is his write-up on the app that I tried out using the office location:

“Sitegeist – Have you ever been out showing property with buyers and while standing in front of a house they start asking you questions about the neighborhood that you know are probably in violation of fair housing laws? I have my agents ask their buyers to download the Sitegeist app which pulls all sorts of public records data based on your geo-location. Sitegeist pulls from sources such as the U.S. Census Bureau, Foursquare, Yelp, Weather Underground, and the Environmental Protection Agency. The app will tell a user based on their location things such as:

How people commute – car, public transportation, walk, bike
Median home values
Average rent
Number of males vs. females in the immediate area
Household incomes
Number of children under the age of five
Median age of homes
Number of housing units

And a lot more…

“See how your customers may find this information useful? And also see how much safer it is when the data is coming from a third party without you having to tip toe around the questions? Believe me, your customers will be wowed and your broker relieved when you start using and sharing this app. I also personally use this app when analyzing commercial real estate in markets I am not too familiar with….

“A common question that I get asked when I share this app with agents, colleagues and customers is “how far around me is this data pulling from?” Because the data is coming from multiple sources and each source has different criteria for what they consider to be “nearby” there is no single answer to this question. For example, the U.S Census Bureau data measures geographic area by the census tract, political contributions are measured by zip code, the EPA uses a 5-mile radius, and Foursquare and Yelp each have their own algorithm to come up with what constitutes a geographic area around you. Regardless of how far around you the data is pulling from, the aesthetically appealing graphics, easy to read design and quick access to relevant data make it a must have when your buyers are house-hunting.

“Sitegeist is also free and you can download it here: sitegeist.sunlightfoundation.com“.

Here are the results that were posted when I keyed in our SanibelSusan Realty office location on Periwinkle Way:

People: Median age: 65 yrs 6 months; Children under 5: 62 at 0.05 kids per household in 1,181 households; Household Incomes: 54.1% over $100K; Gender: 50.8% male; Political contributions: $193,854 (Republicans), $70,918 (Democrats).

Housing: Median Home Value $606,700; Average Rent: $1,630/month; 10% of people rent; How People Commute: 75% by car.

Fun: Tarpon Bay Explorers, Sweet Melissa’s Cafe, Jerry’s Foods; Explore: Sanibel Deli & Coffee Factory; 2 Movie Theaters within 5 miles;

Weather: 76 degrees F and clear right now; Average temps for today: high 84; low 62; Record temperatures for today: 93 high (in 1944), 47 low (in 1950);

History: Median Age of Homes: 31 years.

Here are the results that changed when I keyed in my home in Sanibel Estates on the east-end:

People: Median age: 64 yrs 7 months; Children under 0: no children in 1,426 households; Household Incomes: 41% over $100K; Gender: 53.9% female.

Housing: Median Home Value $685,900; Average Rent: $1,036/month; 16% of people rent; How People Commute: 72% by car.

Fun: Lighthouse Beach & Fishing Pier; Explore: She Sells Sea Shells.

History: Median Age of Homes: 37 years.

Remodeled Captiva Civic Association Building Now Open

Out on Captiva, be sure and check out the new Captiva Civic Association building which includes a new Captiva history museum and a new reading area in the expanded Captiva Library. The cleverly conceived and created History Gallery takes on the wooden look of the interior of the old mail boat, ‘Santiva’ which serviced the islands prior to the construction of the Sanibel Causeway in 1963.

The boat windows feature interpretive panels and touch screen access to historic photos. In addition, visitors can enjoy looking out through the windows of the boat to the ‘views’ that passengers saw as they cruised between Fort Myers and the islands. The room also has a ‘launch pad’ area where visitors can learn about other historic sites and museums in the area such as Useppa Museum, Boca Grande, Randall Research Center at Pineland, and the Sanibel Historical Village. More info at www.CaptivaIslandHistoricalSociety.org.

The whole project began last spring, adding almost 1,200 sq.ft. to the 7,400-sq.ft. building at 11550 Chapin Lane. The facility was originally constructed in 1961 and expanded several times including the addition of the wing for the Captiva branch of the Lee County Library in 1970. All of the funds for the renovation came from member donations even though the Captiva Community Center complex includes a public library and local sheriff’s deputy residence. CCA was founded in 1936 at the old Fisherman’s Lodge to foster road repair, construction of a city dock, vegetation control and general improvement of the island. It met at various homes and public places until 1949 when it took over the old schoolhouse, which is not the Captiva Chapel by the Sea. A decade later, it moved into an adjacent part of the one-engine firehouse built on the existing site of CCA.

Sanibel & Captiva Islands Multiple Listing Service Activity April 4-11, 2014

Sanibel
CONDOS

1 new listing: Tanglewood #1A 3/2 $1.179M.

3 price changes: Sundial #I103 1/1 now $375K, Kimball Lodge #304 2/2 now $549K, Loggerhead Cay #583 2/2 now $549.9K.

8 new sales: Sanibel Shores #2 2/1 listed for $299K, Sanibel Moorings #1322 2/2 listed for $419K; Sanibel Moorings #422 2/2 listed for $449,999; Loggerhead Cay #121 2/2 listed for $699K; Pointe Santo #B25 2/2 listed for $749K, Tarpon Beach #109 2/2 listed for $789K, Snug Harbor #121 3/2 listed for $997.5K, Sanibel Seaview #B1 3/3 listed for $1/395M.

5 closed sales: Loggerhead Cay #362 2/2 $480K, Sandpiper Beach #103 2/2 $550K, Kings Crown #313 2/2 $575K, Nutmeg Village #103 2/2 $587K, Pointe Santo #B23 2/2 $580K (our listing).

HOMES

7 new listings: 1835 Ardsley Way 2/1 $349K, 589 Rabbit Rd 2/2 $499K, 9446 Beverly Ln 3/3.5 $599K (short sale), 989 Dixie Beach Blvd 3/2 $635K, 766 Sand Dollar Dr 4/5.5 $1.495M, 375 East Gulf Dr 4/3 $1.849M, 2969 Wulfert Rd 6/6/2 $1.95M.

4 price changes: 736 Cardium St 3/2 now $439K, 828 Rabbit Rd 2/1 now $442K, 1817 Buckthorn Ln 4/3.5 $1.095M, 2514 Blind Pass Ct 4/3/2 now $1/349M.

11 new sales: 1890 Farm Trail 3/2 listed for $449K, 340 East Gulf Dr 2/2 listed for $489K, 696 Sea Oats Dr 3/2 listed for $575K, 1838 Long Point Ln 3/2 listed for $639K, 4622 Rue Belle Mer 4/2 listed for $809K, 1818 Buckthorn Ln 3/3 listed for $875K, 1759 Jewel Box Dr 3/2 listed for $995K, 2749 Wulfert Rd 3/3.5 listed for $995K, 466 Sea Oats Dr 4/3.5 listed for $995K, 2729 Wulfert Rd 4/4.5 listed for $1.098M, 5612 Baltusrol Ct 4/3.5 listed for $1.695M.

6 closed sales: 450 Leather Fern Pl 3/2 $575K, 3808 West Gulf Dr 3/2 $650.2K, 1827 Buckthorn Ln 3/2 $735K, 750 Sand Dollar Dr 2/2 $785K, 1838 Buckthorn Ln 3/2 $1M, 1480 Angel Dr 3/3 $1.31M.

LOTS

1 new listing: 6411 Pine Ave $349K.

No price changes or new sales.

2 closed sales: 761 Donax St $204K, 1898 Woodring Rd $2.05M.

Captiva
CONDOS

1 new listing: Ventura Captiva #2B 2/2 $797.5K.

No price changes.

1 new sale: Beach Villas #2634 3/3 listed for $840K.

No closed sales.

HOMES

No new listings or price changes.

1 new sale: 1129 Longifolia Ct 4/5 listed for $5.995M.

1 closed sale: 11527 Andy Rosse Ln 4/4 $2/35M.

LOTS

Nothing to report.

Happy weekend to all!

Sanibel Scoop & Captiva Chatter

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

Category Archives: SanibelSusan’s Blog

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