Early August Sanibel & Captiva Islands Real Estate Scoop

Posted on August 9, 2013 by SanibelSusan

It is another quiet Friday on Sanibel Island – too quiet for those of us in the real estate business. A report of the Sanibel & Captiva Islands Multiple Listing Service action this week is below. First time I ever remember reporting that there was absolutely no activity on Captiva in a given week!

Now for a couple of news items, followed by that report.

Sanibel School Earns Another “A”

Island newspapers reported this week that although school grades dropped in Lee County, The Sanibel School kept its “A” rating for another year. Last week, the Florida Department of Education released the 2013 preliminary school grades based on student test scores. The Sanibel School earned 761 out of 900 points.

Lee County’s overall grade for 2013 dropped from a “B” to a “C”, which mirrored decreases in Charlotte, Collier, and Glades counties. 37% of district schools earned an “A” this year, compared to 29% statewide. Lee County ranked 3rd in the state for the number of schools earning an “A” or “B”. High school grades will be finalized when additional data is collected by the state this fall.

It’s no wonder families continue to move to the island for the school! To see how individual schools fared, check online at The Florida Department of Education (http://schoolgrades.fldoe.org/) and click under Preliminary School Grades for 2013.

Did You Know? (from EcoBroker®)

Here is a little info received this week through the EcoBroker® program, where SanibelSusan is certified.

Did you know that there are ~250 million thermostats in the U.S. of which only 40% are programmable. And of those, only 10% have been programmed to save energy.

Wi-Fi-enabled thermostats are a growing market in HVAC too. Both Nest and Honeywell produce a smart thermostat, able to connect to your Smartphone to show you current condition in your home so you may adjust accordingly, all while away. These thermostats also learn when you wake up and when you leave, to ensure a comfortable living environment while maximizing energy savings.

More on Water Quality

The Sanibel and Captiva Islands Association of Realtors® arranged for a local water-quality expert to speak at the 2013 Florida Realtors® Convention and Trade Expo next week in Orlando. Many Realtors® have been on a soap box recently about water quality. All island lovers and concerned citizens should be worried.

The 2013 rains most-likely will set records breaking the string of drought years Florida has suffered since 2007. After a wet spring and very wet early summer, the Everglades ecosystem (which stretches from Orlando to Florida Bay and Fort Myers to Stuart) has received more rain than it can hold. The excess water, no longer able to flow south because of sugarcane and crops growing in the Everglades Agricultural Area is sent instead both east and west – to the Caloosahatchee estuary here and to the St. Lucie estuary on the other coast. High levels of freshwater are killing marine life here and the news about it is far-reaching.

SCCF photo of Redfish Pass 07-10-13

Our colleague, David Schuldenfrei, was on the local TV news yesterday where much of the discussion focused around the already-felt economic consequences of these freshwater releases.

Filmed at Franklin Lock and Dam which is in Olga, Florida, about 33 miles upstream of the Gulf Intracoastal Waterway, David was amazed to see the algae already growing on the other side of the dam and the amount of water that is coming downriver – literally thousands of gallons a second. (The U.S. Army Corps of Engineers constructed and currently manages five locks along the 152-mile Okeechobee Waterway. Franklin Lock and Dam were construction in 1965 for flood control, water control, prevention of salt-water intrusion, and navigation purposes.)

The photo above was taken almost a month ago showing the water flowing between Captiva and North Captiva. Imagine how much more water has come down the river since then.

There is an excellent link with directions for sending your letters of concern at http://www.dingdarlingsociety.org/admin/media_upload/water.pdf

Please do it! Experts say that even if the releases stop today – which definitely is not going to happen – the water around Sanibel and Captiva may not clear up and return to natural salinity levels until well into 2014!

5 Best Beach Towns to Buy Property In – According to Investopedia

I read an interesting on-line article this week at Investopedia.com. (Who knew such a web site existed?) Not only was the article a fun read, but the first beach town mentioned isn’t even near the beach! Since several island clients currently are buying investment property just off-island, I thought you might enjoy the article too. (FYI – We have an off-island expert who handles our short sale/foreclosure business, while teammates Dave and Lisa who own themselves just off-island, work our traditional sales there.)

“For the most part, beach properties have held up pretty well since the property bubble for residential real estate burst in the United States between 2007 and 2009. Based on Zillow.com’s affordability index, which measures the price of property in a city and compares it to the annual income levels of its residents, property remains firmly depressed in many beach towns. Below is an overview of some of the more affordable locales these days.

“Lakeland, FL – Though officially slightly inland from the beach town of Clearwater, FL, as well as Tampa Bay, FL and St. Petersburg, FL, the short drive may be worth it as Lakeland, FL is currently one of the most affordable home markets in the country. The low range of its historical price to income ratio is more than 40% below its historical norms. A perusal of the available real estate in the city shows a number of properties for well below six figures. Orlando, FL, which is slightly east, also has a high number of affordable and beaten-down houses for sale following the bursting of the housing bubble.

“Jacksonville, FL – Situated right on the coast of the Atlantic Ocean, Jacksonville, FL is also among the most affordable real estate markets in the United States right now. Its affordability index is right around 40% below its historical average. Houses right on, or very close to, the waterfront are currently listed for around $100,000, with some going for less. New homes are also an option, thanks to plenty of remaining real estate available for building.

“Fort Myers, FL – Sticking in Florida may be the best strategy for snagging an affordable beach property. Fort Myers, FL has a reputation for some of the worst hit real estate as a result of the housing bubble. The affordability index is similar to that of Jacksonville, FL at just below 40% its historical average. Homes right on the waterfront currently list for a couple of hundred thousand or more, but there are still deals to be had and cheaper homes slightly inland. Sanibel Island, FL, which is just a short drive across the Causeway Boulevard, remains pricey with home prices closer to a cool million. A number of foreclosures still exist in the area.

“Mobile, AL – Heading slightly west and tucked right into Mobile Bay on the Gulf of Mexico, Mobile, AL is right around the national average with an affordability index 35% below its historical average. On an absolute level, very few houses are listed above six figures and that means a location right on the water could be very affordable. Highly motivated sellers want to move a number of the properties.

“San Diego, CA – Moving out west and to well above the national average, certain San Diego real estate is still 20% below its historical affordability index average. Smaller properties not far from the Pacific coast go for a couple of hundred thousand, which isn’t that bad if being close to the beach is a high priority. A condo right on the beach is also currently going for less than $300,000, though it is only 638 square feet.

“Conclusion – Combined with record low mortgage rates, a beach-front property is well within the reach of many U.S. citizens. Foreigners have also gotten in on the mix and have largely bought up the properties in international destinations such as Miami. Those with the funds could be sitting pretty in the next decade. ”

Sanibel & Captiva Islands Multiple Listing Service Activity August 2 to 9

Sanibel
CONDOS
1 new listings: Mariner Pointe #1013 2/2 $399K.
2 price changes: Sundial #D207 1/1 now $269K, Shell Island Beach Club #7A 2/2 now $671K.
3 new sales: Tennisplace #D31 1/1 listed for $179K, Spanish Cay #C3 2/2 listed for $335K, Sanibel Siesta #210 2/2 listed for $439K.
3 closed sales: Pointe Santo #A22 2/2 $695K, Gulfside Place #323 2/2 $900K, Cyprina Beach #1 2/2.5 $1.2M.

HOMES
5 new listings: 736 Cardium St 3/2 $459.9K, 1644 Atlanta Plaza Dr 2/2 $489K, 673 East Rocks Dr 3/2 $639K, 909 Lindgren Blvd 4/3 $1.395M, 561 Lighthouse Way 5/4 $1.895M.
1 price change: 747 Martha’s Ln 3/2 now $549K.
3 new sales: 945 Main St 3/3 listed for $435K (short sale), 9240 Belding Dr 3/2.5 listed for $475K, 2560 Coconut Dr 3/3 listed for $495K.
4 closed sales: 9418 Moonlight Dr 3/2 $476,833, 615 Hideaway Ct 3/2.5 $657.5K, 1316 Eagle Run Dr 4/3 $843K, 203 Daniel Dr 3/3 $980K.

LOTS
3 new listings: 2512 Wulfert Rd $259.5K, 690 Birdie View Pt $399K, 568 Lighthouse Way $1.995M.
1 price change: 708 Durion Ct now $325K.
No new or closed sales.

Captiva
Nothing to report.

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

Here’s hoping real estate activity on the island picks up soon!
Realistically, that won’t happen for another couple of months, but a girl (& her team) can hope! Happy weekend wishes to all…

Enjoy this YouTube video posted by Sanibel Community Church staff.

Bet you haven’t seen “Starry Night” by One Direction performed like this & at the beach!

Sanibel’s Condo Market & Other Island News

Posted on August 2, 2013 by SanibelSusan

It’s been another quiet summer week on Sanibel Island. We have had a few late afternoon and evening showers, but some lovely weather otherwise.

Another favorite pix from our photographer pal, Jim Anderson, with JMA Photography.

Below are a few news items followed by the analysis that I promised last week about Sanibel’s condo market. Following it is the activity reported over the last seven days in the Sanibel and Captiva Islands Multiple Listing Service.

Doc Ford’s Captiva Is Open

Doc Ford’s Rum Bar & Grille, Captiva Island, officially opened on Wednesday. Located near the entrance of South Seas Resort be sure to check it out for lunch or dinner. Following a multi-month renovation, it has completely new interior plus desirable outdoor seating as well as a beautiful new bar, dining room, and entertainment area. What a terrific new venue for Captiva! You will recognize some familiar faces from their beloved Sanibel restaurant too.

The Case of the Missing Mail Boxes

Have you been looking for the mail boxes that previously were in the parking lot at The Sanibel & Captiva Islands Chamber of Commerce? We have. They were removed a few weeks ago when the Chamber lot was resurfaced with pavers. We noticed the work was done but had not seen the mail boxes return. This week, we learned that they were installed in a different location – at the City Boat Ramp park off Causeway Road. What a great spot for folks looking to drop mail as they are leaving the island! Elise is going to like that!

More Off-Season Maintenance Work

Lee County Electric Cooperative (LCEC) informed the City this week that circuit crews will begin vegetation trimming on Sanibel and Captiva next week. It will start near South Seas Resort and proceed down Sanibel-Captiva Road, continuing on Rabbit Road to West Gulf Drive. Crews are to make contact with businesses and homeowners before trimming, leaving door hangers when person-to-person contact is not made. LCEC vegetation trimming crews are expected to be on the island for about three months, weather permitting. Questions should be directed to LCEC at 239-656-2300.

New School Year Begins

Wouldn’t it be wonderful to attend school on Sanibel? Sure wish I had gone here. As I mentioned last week, Florida schools get back in session early. Here the 2013/2014 year begins at the Sanibel School on Thursday (Aug 8). Bus arrival and parent drop-offs are from 7:40 to 7:50 a.m., with school start at 7:55 a.m. and dismissal at 2:10 p.m. Their student open house is the day before.

What’s Happening with Sanibel Condo Sales?

The tables below show by geographic area the number of condos for sale, their median price, days-on-market, and, for comparison, those under contract, those that have sold this year to-date (through today August 2, 2013), and the total sales last year. Under the title of each search-able location is a list of some of the communities or subdivisions that are included in that area.

What do these statistics say? The Sanibel condo market continues to struggle to stabilize. Though the number of sales is up, the median sale price is not.

This activity shows that Sanibel’s condo market is transitioning to a more balanced market, albeit slowly.

Bay-Front (Lighthouse Point, Mariner Pointe, Yacht Haven)
Status	Number	Median Price $	DOM
For Sale	9	539,935*	207
Under Contract	0	N/A	N/A
2013 Sales	2	472,000	1291
2012 Sales	7	439,000	362

Canal-Front (Seawind, Seawind II, Tennisplace)
Status	Number	Median Price $	DOM
For Sale	3	399,000*	788
Under Contract	0	N/A	N/A
2013 Sales	5	249,000	520
2012 Sales	7	279,000	183

Gulf-Front (Angler’s Key, Atrium, Beachcomber, Clam Shell, Compass Point, Coquina Beach, Cottage Colony West, Cyprina Beach, Golden Beach, Gulfside Place, High Tide, Island Beach Club, Junonia, Kimball Lodge, Kings Crown, La Playa, Lantana, Loggerhead Cay, Nutmeg Village, Oceans Reach, Pelicans Roost, Pine Cove, Plantation Village, Pointe Santo, Sand Pointe, Sandalfoot, Sanddollar, Sandpiper Beach, Sanibel Arms, Sanibel Arms West, Sanibel Inn, Sanibel Moorings, Sanibel Siesta, Sanibel Surfside, Sayana, Seascape, Sedgemoor, Shell Island Beach Club, Shorewood, Signal Inn, Snug Harbor, Somerset, St Croix, Sundial, Sunset South, Sunward, Surfside 12, Tamarind, Tarpon Beach, Wedgewood, White Caps South, White Pelican)
Status	Number	Median Price $	DOM
For Sale	107	599,900*	491
Under Contract	15	599,000*	312
2013 Sales	77	599,000	322
2012 Sales	108	599,000	380

Inland (Captains Walk, Heron at The Sanctuary, Ibis at The Sanctuary, Lake Palms, Sanctuary Golf Villages,)
Status	Number	Median Price $	DOM
For Sale	1	609,000*	72
Under Contract	1	259,000*	135
2013 Sales	15	399,000	320
2012 Sales	8	450,000	761

Near-Beach (Blind Pass, Casa Blanca, Colonnades (aka Colony Resort), Donax Village, Duggers Tropical Cottages, Sandpebble, Sanibel Shores, Sealoft Village, Seashells, Spanish Cay)
Status	Number	Median Price $	DOM
For Sale	13	335,000*	236
Under Contract	0	N/A	N/A
2013 Sales	13	372,450	377
2012 Sales	21	324,900	479

DOM = days on market

* Asking price

Another way to view Sanibel condos is by size. Recognizing that the majority of the units built on the island are 2-bedroom floor plans, because there are so few of them, sometimes a premium is paid for larger or even smaller units.

1-Bedroom Condo
Status	Number	Median Price $	DOM
For Sale	29	349,900*	714
Under Contract	4	498,950*	208
2013 Sales	13	292,900	331
2012 Sales	22	284,450	409

2-Bedroom Condo
Status	Number	Median Price $	DOM
For Sale	81	589,000*	367
Under Contract	10	633,000*	293
2013 Sales	81	499,000	339
2012 Sales	103	498,700	399

3+Bedroom Condos
Status	Number	Median Price $	DOM
For Sale	24	1,298,500*	395
Under Contract	2	1,562,000*	524
2013 Sales	17	899,000	472
2012 Sales	26	918,500	435

DOM = days on market

* Asking price

Sanibel & Captiva Multiple Listing Service Activity July 27 – August 2

Sanibel

CONDOS

2 new listings: Sanibel Arms West #L3 2/2 $495K, Gulfside Place #121 2/2 $985K.

1 price change: Sundial #L304 2/2 now $995K.

1 new sale: Sundial #G205 1/1 listed for $299,999.

5 closed sales: Compass Point #203 2/2 $542K, Sundial #K203 2/2 $670K, Sanddollar #B104 2/2 $850K, Nutmeg Village #101 2/2 $870K, Tamarind #A202 2/2 $1.5M.

HOMES

4 new listings: 1342 Junonia St 3/3 $669K, 426 Lake Murex Cir 3/2 $699K, 497 Lake Murex Cir 4/3 $879K, 1504 Angel Dr 4/3 $948K.

5 price changes: 970 Sand Castle Rd 3/2 now $540K, 1073 Sand Castle Rd 3/2 now $569K, 395 Old Trail Rd 5/4 now $999K, 5115 Joewood Dr 4/3 now $1.25M, 4717 Rue Belle Mer 3/3 now $2.195M.

2 new sales: 1475 Court Pl 3/1 listed for $289K, 1520 Center St 2/2 listed for $319K.

2 closed sales: 1076 Captains Walk St 2/2 $540K, 9024 Mockingbird Dr 3/2 $661.25K, 1249 Par View Dr 4/4.5 $1.26M.

LOTS

No new listings.

3 price changes: 1307 Par View Dr now $239.5K, 5830 SanCap Rd now $399,999, 218 Violet Dr now $499,994.

No new sales.

1 closed sale: 3830 West Gulf Dr $600K.

Captiva

CONDOS

No new listings.

1 price change: Bayside Villas #5144 1/2 now $314.5K.

No new sales.

1 closed sale: Tennis Villas #3138 2/2 $372.5K.

HOMES

No new listings.

1 price change: 15361 Captiva Dr 5/4.5 now $1.995M.

No new sales.

1 closed sale: 15166 Wiles Dr 3/2.5 $2.895M.

LOTS

Nothing to report.

Best wishes for a terrific weekend from SanibelSusan and team! Susan may spend a little time doing the Sanibel stoop…

Summer Island Scoop, Plus What’s Happening With the Sanibel Home Market

Posted on July 26, 2013 by SanibelSusan

Photo by our photographer pal, Jim Anderson, JMA Photography

It’s SanibelSusan reporting that it has been a slow quiet seven days on Sanibel. Unlike last week, there has been little rain with the few visitors here out having fun in the sun! We did not have an Association of Realtor® Caravan meeting this week, so many sales associates also are taking summer vacations now.

Lee County Schools start in less than two weeks. Former-Yankees still have trouble understanding why the Florida school year starts so early. With schools back in session, the island traffic will slowly transition into fall.

First comes, the August/September period, we islanders refer to as fix-up time. Many restaurants and businesses begin a staggered vacation schedule with facilities being cleaned and spruced up for the upcoming “high season”. Yesterday, the City announced the schedule for this year’s road resurfacing work. The work begins on Monday, July 29, and includes the following areas:

West Gulf Drive (Tarpon Bay Road to west end)
Junonia Street (Donax Street to Pyrula Avenue)
Oliva Street
School Ball Fields access road (Sanibel-Captive Road).

You can tell I had a little extra time on my hands this week, as I have a few more news today. Read the good scoop about Sanibel homes, just before the Sanibel and Captiva Islands Association of Realtors® Multiple Listing Service action this week below.

More scenes of summer by Jim Anderson, JMA Photography

Home Inspection Red Flags

“Daily Real Estate News” on Monday posted the following article sourced to AOL Real Estate. Following the article is SanibelSusan’s revised-edition tailored for Sanibel Island home inspections. Things are a tad different on a barrier island in Florida! The AOL article says:

“A home inspection is a buyer’s opportunity to see if any problems lurk that may prove expensive to fix later. Home inspections nearly always uncover something in a home to watch for or minor repairs needed. But what repairs should buyers especially be alarmed about that could possibly send them back to the negotiation table? Tom Kraeutler of The Money Pit, a nationally syndicated radio show on home improvement, points out some of the following home inspection red flags:

Termites and pests: The sooner termites are detected, and steps can be taken to get rid of them, the better.
Drainage issues: A home that has poor drainage can have wood rot and wet basements and crawlspaces, which can then lead to major mold growth.
Mold: Pervasive mold growth may indicate an issue with improper ventilation issues and can also cause health issues to those living in the home.
Faulty foundations: A cracked or crumbling foundation could be a very expensive repair.
Wiring issues: Outdated wiring or overloaded circuits can pose a fire hazard.”

Now some of Susan’s ramblings: In Florida where our standard sales agreement does not provide for renegotiation following an inspection, here are a few contractual things to consider:

The standard Florida Residential Contract for Sale and Purchase contains a “Property Inspection and Repair” clause which gives the Buyer the right to inspect during a prescribed time period. Within that inspection period, the Buyer must inform the Seller of any repair items that are not in the condition required by the contract. Then, the Seller is obligated to make the repairs provided they are within the contract’s General Repair Limit (usually 1-1/2% of the purchase price). There is another 1-1/2% limit for Wood Destroying Organisms (i.e. termites and wood rot) and another 1-1/2% for closing out open or expired building permits. Total Seller repair liability often is 4-1/2% of the purchase price. Here, renegotiation does not come into play, unless limits are exceeded.
The Florida “AS IS” Residential Contract for Sale and Purchase also contains an inspection clause, but it is called “Property Inspection: Right to Cancel”. This contract similarly gives a Buyer the right to inspect during a prescribed time period. However, with this contract, the Buyer may determine within the inspection period that “in Buyer’s sole discretion, that the property is not acceptable.” With this contract, renegotiation is often the method of compromise used to make the property acceptable to the Buyer.
The most commonly used contract on Sanibel today is the “AS IS” contract. I prefer it too, as it puts the Buyer in the driver’s seat if any repairs are needed and it provides that window for renegotiation – or to walk away – should pricey defects be found that are not easily recognizable.

Real estate here on the island can be different from other areas. For example, homes do not have basements.

Below are SanibelSusan’s Island-Specific Home Inspection Red Flags:

Wood rot and termites: On the island where the weather is warm and the moisture level high, exterior surfaces need to be checked, sealed, and painted more often than up north. Up until a few years ago, wood rot (which is really a fungus) was the most common finding by island home inspectors. Over the last 12 months, probably half of the single-family home inspections have found evidence of termites. (These usually are the dry wood variety, the kind that swarm in the spring and can be even transferred from place to place by way of antique furniture.) Our home inspector advises that any wood rot covering an area larger than a quarter should not be filled, but rather, the wood should be replaced. Wood rot does not go away, it must be removed completely! Keeping wood surfaces sealed, dry, and un-shaded by vegetation may help deter it. For termites, inspectors most often recommend tenting to ensure eradication.
Pin-hole leaks: Sanibel reverse-osmosis-produced water often creates havoc with copper pipes, so if the property you are buying has any of those, be warned. Reverse osmosis-treated water is aggressive to metallic pipe or to substances that can ionize and dissolve in water – not because of low acidity, but because it is pure and has few dissolved substances in it. This water most-often corrodes through on horizontal copper piping and creates pin-hole leaks that can drip occasionally and then corrode over, often later dripping in another spot. Many owners with property having metal piping have replaced some, if not all, of the copper with a plastic-type piping. Some condo associations replaced piping as a complex project, others have not. Remember too, that it sometimes is easy to replace piping in an elevated home with an open lower level. Ground-level structures, like my home, usually have the original metal pipes in the floor under the concrete. That makes for fun replacement when they start to leak, like mine did last winter. If you need a good plumber, let me know!
Mold: Mold can occur as a result of the pipe-hole leaks mentioned earlier, but more often mold is the result of a leaky roof or aftereffects of storm damage. Nationwide, mold became a topic of media attention a few years ago, much like Chinese drywall, radon, and lead-paint had in years previous. None of these items are found much on Sanibel, but being that this is often-damp Florida a variety of mold spores are often found. If you have health concerns or suspect that a property may have had former storm damage or water intrusion, get a mold test done. The black toxic mold variety is usually found in areas that you cannot see, like behind the walls. If suspected, get air samples taken. The samples are sent to a lab and evaluated for mold spores. Mold reports shown elevated readings and describe the mold varieties that can be of concern.
Salt pulping of wood pilings: This is a fuzzy decay and deterioration on wood support pilings. Caused by salt water being absorbed from the ground up into the piling, this process is sometimes described as “wicking” and is much like how a straw works. Sometimes pulping happens because the piling is not dried, aged properly, or treated prior to use. To stop pulping, the water column action must be blocked.
Old electrical panels: If a property was built between 1950 and 1990 and is equipped with a Federal Pacific Electric (FPE) panel with Stab-Lok circuit breakers, there is a risk of breaker malfunction and fire. Also, having this equipment can become an insurance obstacle. (Most insurance providers for a property older than 25 years will require a 4-Point Inspection which evaluates the HVAC, electrical panels and wiring, plumbing connections and fixture, and roof.) Over the last year, inspections for three of my sales were identified as having these panels. Some island condo complexes were built with them, sometimes with two per unit – one for the HVAC equipment and the other the standard electric breaker box. Records show that an estimated 2,800 fires each year directly result for FPE panel breaker malfunction. The company has been out of business for many years.

There are plenty of home inspectors in Southwest Florida but my favorite is Ron Dehler with Horizon Inspection Service, Inc., otherwise known to some Realtors® as “the deal breaker”. We both think it is better that you find out what you are buying before you buy, rather than after!

Baby Sand Dollars

Sanibel sanddollars, photo by Pam Rambo

Island shelling enthusiasts know that one of Sanibel’s most popular shellers is Pam Rambo. Pam often leads local shelling tours and her web site features her daily escapades at the beach and what she finds. Her posting about her Sunday evening adventures describes the thousands of baby sand dollars found at Gulfside City Park beach. Above the waterline, she describes many completely-dried mostly-white small ones with little or no “fur”.

Living sanddollars, photo by Pam Rambo

In the surf, she and her husband found so many live ones (literally thousands) – those dark in color and with hairs along their bodies – that she contacted Dr. Jose Leal at the Bailey-Matthews Shell Museum and the Sanibel-Captiva Conservation Foundation’s Kristie Anders, Education Director, and research scientist Dr. Richard Bartleson to find out why.

Dr. Leal told her that it is natural in low-tide situations with the full moon for mass mollusk die-offs or masses of animals exposing themselves (like the many fighting conchs sometimes on the beach). Kristie said that they could be “trying to move away from water that has little oxygen in it. The little bit of surf agitates the water and increases the oxygen much like a bubbler in an aquarium.” Dr. Bartleson said they will try to get some oxygen readings this week and Pam’s site said will provide updated info as she hears it.

Check out Pam’s video of the sand dollars at http://www.iLoveShelling.com.

2013 NAR (National Association of Realtors®) Home Features Survey

The results of the 2013 NAR Home Features Survey are out. Respondents for this survey purchased their homes within the last two years. They rated the importance of rooms, features (structural, interior, exterior, and neighborhood), and systems as they house-shopped and after they purchased. Here are some interesting statistics from the survey. They are in-line with my experience on the island too.

97% of all buyers are somewhat to very satisfied with their purchase

But there is buyer’s remorse, 55% of the new owners wanted more storage.

Of the buyers who purchased their homes without certain features, over half say they would have paid more for: new appliances, walk-in closets, granite countertops, and hardwood floors. Maybe these are improvements worth considering if you are updating your home with a future sale in mind.

What’s Happening with Sanibel Home Sales?

The off-season always provides the time needed to take a careful look at market activity. This week, I studied the Sanibel Home segment. The tables below show by geographic area the number of homes for sale, their median price, days-on-market, and, for comparison, those under contract, those that have sold this year to-date (through July 25, 2013), and the total sales last year.

What do these statistics say?

Overwhelmingly, the Sanibel home market is hot, inventory is low, and prices are rebounding. Under the title of each search-able location below is a list of some of the communities or subdivisions that are included in that area.

This activity shows that Sanibel’s home market is shifting from a “balanced market” to a “sellers’ market”!

Next week I will post a similar analysis covering the Sanibel condo market.

Bay-Front (Ferry Landing, Sanibel Estates, Sanibel Harbours, Sanibel Isles, Richardsons, Woodrings)
Status	Number	Median Price $	DOM
For Sale	8	2,239,000*	499
Under Contract	2	1,662,500*	178
2013 Sales	3	2,190,000	840
2012 Sales	8	2,195,500	335

Bayou-Front (Castaway Estates, Del Sega, Dinkins Bayou, Heron’s Landing, Sanibel Bayous, Dinkins Bayou)
Status	Number	Median Price $	DOM
For Sale	12	1,260,000*	554
Under Contract	0	N/A	N/A
2013 Sales	3	836,000	378
2012 Sales	5	1,649,000	472

Canal-Front (Anchors Aweigh, Caloosa Shores, Castaway Estates, Del Sega, Harbour Cottages, Kinzie Island, Sanibel Estates, Sanibel Harbours, Sanibel Isles, Shell Harbor, Victoria Cove, Water Shadows, Yachtsman Cove)
Status	Number	Median Price $	DOM
For Sale	32	1,902,278*	430
Under Contract	6	861,700*	309
2013 Sales	21	889,000	330
2012 Sales	37	749,000	275

Gulf-Front (Cats Paw, Chateaux Sur Mer, Gulf Ridge, Gulf Shores, Metes & Bounds (West Gulf Dr), Tradewinds, Seaside)
Status	Number	Median Price $	DOM
For Sale	8	3,874,500*	278
Under Contract	0	N/A	N/A
2013 Sales	15	3,195,000	336
2012 Sales	11	2,350,000	309

Inland (Belle Meade, Betts, Dunes, Foley, Gumbo Limbo, Mitzi, Periwinkle Pines, Sabal Sands, Sanctuary, Sanibel Center, Sanibel Gardens, Sanibel Highlands, Sanibel Lake Estates, Sanibel Pines)
Status	Number	Median Price $	DOM
For Sale	27	579,000*	347
Under Contract	8	429,450*	177
2013 Sales	32	574,450	297
2012 Sales	32	493,000	168

Near-Beach Bayshore Village, Beachview, Brightwater, Butterknife, Buttonwood/Seagrape, Chateaux Sur Mer, Eastwood Landings, Gulf Pines, Gulf Ridge, Gulf Shores, Heron’s Landing, Kearns, Kinzie Island, Lagoon Estates, Lake Murex & Little Lake Murex, Las Conchas del Mar, Las Tiendas, Leisure Acres, Palm Lake, Rocks East & West, Sanibel Bayous, Sanibel Estates, Sanibel Highlands, Sanibel River Estates, Sanibel Shores, Sanibel Woodlands, Sea Oats, Sea Pines, Seagate, Seagull Estates, Seahawk, Seaspray, Southwinds, Terrel Ridge, Tradewinds
Status	Number	Median Price $	DOM
For Sale	49	845,000*	300
Under Contract	13	719,000*	226
2013 Sales	56	681,950	271
2012 Sales	79	565,000	330

DOM = days on market

* Asking price

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

Sanibel
CONDOS
3 new listings: Sanibel Arms #C1 1/1 $345K; Sundial #J307 2/2 $519,915; Gulfside Place #121 2/2 $985K.
1 price change: Spanish Cay #C3 2/2 now $335K.
2 new sales: Loggerhead Cay #582 2/2 listed for $549K, Pointe Santo #D2 2/2 listed for $599K.
4 closed sales: Captains Walk #A2 1/1 $165K, Sanibel Arms #A1 2/2 $410K, Sundial #E308 2/2 $785K, Shorewood #1D 3/2 $791K.

HOMES
3 new listings: 1475 Court Pl 3/1 $289K, 918/920 Main St 5/5 multi-family $449K, 6111 SanCap Rd 3/4.5 $23M.
3 price changes: 1549 Wilton Ln 3/2 now $469K, 1001 Kings Crown Dr 3/2.5 now $999K, 1838 Buckthorn Ln 3/2 now $1.285M.
3 new sales: 1327 Tahiti Dr 2/2 listed for $424.9K, 916 Palm St 5/4 multi-family listed for $529K, 1826 Woodring Rd 3/2 listed for $1.33M (short sale).
2 closed sales: 9319 Kincaid Ct 3/2 $475K, 1066 Sand Castle Rd 3/2 $530K.

LOTS
No new listings.
1 price change: 3351 Saint Kilda Rd now $337,555.
No new sales.
1 closed sale: 6401 Pine Ave $644K.

Captiva

CONDOS
No new listings, price changes, or new sales.
3 closed sales: Beach Villas #2222 1/1 $455K, Marina Villas #806 2/2 $565K, Lands End Village #1611 2/2 $1.062.5M

HOMES
Nothing to report.

LOTS
Nothing to report.

Until next month – or next Friday, happy weekend to all!

SanibelSusan

"Sanibel Sunset" courtsey of JMA Photography

“Sanibel Sunset” courtesy of JMA Photography

Sanibel Sunsets & Island Real Estate News

Posted on July 19, 2013 by SanibelSusan

Another summer week is behind us, surprisingly with Southwest Florida being touted as one of the coolest spots in the nation a couple of times. It is definitely an unusual weather pattern if Florida is cooler than 40 of the 48 contiguous states.

Over the last seven days, Sanibel and Captiva Island have had mostly sunny days but plenty of rain too, particularly yesterday. More is expected later today and again tomorrow. Swales are full, ponds and lakes overflowing, and the tropical vegetation is growing like crazy.

Here is a photo sent to me earlier this week by one of our happy island homeowners. Those afternoon/early evening storms usually are followed by fabulous sunsets! Luckily this family now owns in the perfect location for viewing those.

Sanibel sunset, photo thanks to Scott, 07-13-13

Here are a couple of news items, followed by the Sanibel and Captiva Islands Multiple Listing Service action this week. We had another nice closing on Monday, the last of our “winter sales”, now on to summer…

Association of Realtors® July Membership Meeting

SanibelSusan Realty listings starred in the Realtor Caravan following our local Association of Realtors® meeting yesterday. Since our Association had not met for four weeks because of the July 4th holiday, most attendees expected that many new listings would be announced, but “no”, there was just a handful, including our new listing in Sanibel Shores. The new-listing caravan had only five properties on tour (15 is the maximum allowed). Three of the five were SanibelSusan listings including Marine Pointe #631, Pointe Santo #B23, and 9477 Peaceful Drive (photos below). We got good feedback on them too! Now we just need to see buyers in town.

Mariner Pointe #631, photo by Dave

9477 Peaceful Drive, photo by JMA Photography

The educational segment of the meeting featured a panel of rental company managers offering helpful information on how these companies can best work with sales associates. One of the items discussed was the new Florida Realtors/FloridaBAR sales contracts that are expected to be approved during the upcoming August Florida Realtors® Annual Business Meetings in Orlando. Both the traditional “Residential Contract for Sale and Purchase” and the “”AS IS” Residential Contract for Sale and Purchase” in addition to other changes includes one about future rentals. In the paragraph about “Occupancy and Possession” a new paragraph with check-box is added which says:

“CHECK IF PROPERTY IS SUBJECT TO LEASE(s) OR OCCUPANCY AFTER CLOSING: If property is subject to a lease(s) after Closing or is intended to be rented or occupied by third parties beyond Closing, the facts and terms thereof shall be disclosed in writing by Seller to Buyer and copies of the written lease(s) shall be delivered to Buyer, all within 5 days after Effective Date. If Buyer determines, in Buyer’s sole discretion, that the lease(s) or terms of occupancy are not acceptable to Buyer, Buyer may terminate this Contract by delivery of written notice of such election to Seller within 5 days after receipt of the above items from Seller, and Buyer shall be refunded the Deposit thereby releasing Buyer and Seller from all further obligations under this Contract. Estoppel Letter(s) and Seller’s affidavit shall be provided pursuant to STANDARD D. If Property is intended to be occupied by Seller after Closing, see Rider U. POST-CLOSING OCCUPANCY BY SELLER.”During a follow-up question-and-answer period, a local bank Vice President and Association Affiliate Member, mentioned that checking this box could adversely affect a Buyer’s loan scenarios/terms. That makes sense, since investment property is generally considered highest risk (compared to primary residences and 2nd homes).

Another Realtor® member mentioned that sometimes Seller’s have future rental bookings at reduced rates or they block future rental periods for themselves/family/guests at no cost. Sometimes that is looked upon unfavorably by a prospective Buyer who may be looking to maximize income.

A good time to revisit your lease/rental agreement and think about the best way to get your property sold is before it is listed. Many rental contracts have obligations about future bookings. Be sure and pass that information along to your Realtor® and perhaps, when you decide to sell, think twice about how far out you are willing to accept bookings, sometimes prospective buyers do not want to honor rentals. (In recent years, the percentage of buyers wanting rental income has declined. Rather, most buy primarily for their own use.)

Helping Mother Nature on Sanibel & Captiva Islands

One of my favorite things about living on Sanibel and Captiva is the general positive attitude about coexisting with nature. This summer with a beach renourishment project coming up, staff and volunteers with the Sanibel-Captiva Conservation Foundation (SCCF) Sea Turtle Monitoring Program are even assisting Mother Nature.

Each day during nesting season, May to October, the 18 miles of the island gulf beaches from Sanibel’s east-end lighthouse to the tip of Captiva are checked starting at dawn by Turtle Patrol volunteers. Sea turtle nests are identified and marked for monitoring and protection. New hatches are evaluated and recorded with the data helpful in future state and national decision-making that protects sea turtles.

SCCF photo of Sanibel’s first turtle nest of 2013

Unfortunately, this year nesting season falls smack-dab in the middle of a long-planned August beach renourishment project which will add more than 800,000 cubic yards of sand on Captiva from Redfish Pass to Blind Pass, and also on the Captiva-end of Sanibel, where an additional 75,000 cubic yards will be added.

In preparation for this project, SCCF and the Florida Fish & Wildlife Conservation Commission (FWC) stepped in and took action. A special permit was issued which allows SCCF’s biologist and Turtle Monitoring Program Coordinator, Amanda Bryant, and other FWC Marine Turtle permit holders to move nests that would be impacted.

SCCF photo of turtle hatchlings heading to gulf

According to Amanda, as of last week, they had moved 21 nests. According to an article in today’s “Island Sun”, she trained for two years with FWC to obtain this permit and she knows how to create a new egg chamber, just like a mama turtle would. Moving the eggs quickly also is key. The new nests are staked, marked and numbered, just like the ones the mamas create. Thanks to Amanda and her team of volunteers, hundreds of new hatchlings may emerge in about two months – just another wonderful example of how life is on the islands.

City of Sanibel Continues To Be Cost Cautious

At Tuesday’s Sanibel City Council meeting, a preliminary millage rate of 2.0861 was established as recommended by the City’s financial department with a 2014 budget described by City Manager Judie Zimomra as “tight”. This rate is slightly less than last year’s 2.1 mils. Council will conduct the first budget public hearing on Saturday, September 7 at 9 a.m. The 2nd and final hearing will be held on Tuesday, September 17 at 5:01 p.m.

Sanibel Crosswalk Study

Another item on Tuesday’s City Council agenda was discussion about three of Sanibel’s busiest areas for pedestrian and bike traffic. To improve crosswalk safety, several design alternatives were presented as part of this study.

The three intersections being investigated are:

Periwinkle Way & Bailey Road (near the Dairy Queen and Lazy Flamingo)
Periwinkle Way & Casa Ybel Road (across from Jerry’s Market)
Tarpon Bay Road & Island Inn Road (across from Lily & Company)

Following public input and discussion, these areas will be examined further and the topic is continued until Council’s next meeting.

Helping You Save During the Heat Wave

In getting ready for our closing this week, the buyer asked for advice on the appropriate HVAC temperature setting for their new home. Most of the time, I keep my home and the office set at 78 degrees F, but was happy that a flier arrived from Lee County Electric Co-op with my electric bill on the same day and about that very subject. It says:

“Warmer weather has arrived and you may be looking for ways to save energy and lower your bill. Our energy experts are here to help you save energy by following these simple tips:

When cooling your home, set the thermostat at 78 degrees F. Each degree below adds 8 to 12% to cooling costs.
While away from home for more than two hours, set the thermostat at 83 degrees F.
Install a programmable thermostat that will automatically raise and lower the temperature at certain times of the day.
Turn off fans when the room is not occupied. Each continuously running fan costs approximately $7 per month on your electric bill.
Do not close A/C vents or interior doors when A/C is running.

For more green energy tips visit www.lcec.net.”

One for the Birds

When I saw this article posted on VisitFlorida.com this week, I knew Sanibel would have to make the list.

“Five Top Spots for Birding in Florida – Florida, birding and wildlife viewing is a big deal – even bigger than you might imagine.

In fact, birding is second only to beach-related activities as a form of outdoor recreation for both visitors and residents. The trend is still on the rise, so count on seeing more and more people carrying binoculars and spotting scopes around the Sunshine State.

If you’re already into birding, you probably know that Florida is considered one of the best places in the world for the activity. Here are five of the top spots you don’t want to miss:

• Merritt Island National Wildlife Refuge – For Titusville, having one of the state’s most diverse wildlife habitats on your doorstep is a good thing. In January, the area hosts the annual Space Coast Birding and Wildlife Festival, which is the largest of its kind in the country. Birders flock to the area en masse to get a look at migrating waterfowl and all manner of shorebirds along Black Point Wildlife Drive, a 7-mile loop around salt marsh impoundments. Whether you’re visiting for a day or a week, you’re sure to check a few species off your life list here.

• Everglades National Park – When wildlife lovers dream, they more than likely dream about the Everglades. Not only is it a National Park, it’s also designated as an International Biosphere Reserve for its ecological importance. Residents of Everglades National Park include the Florida panther, American crocodile, the rare Ghost orchid, manatees and much more. For a good day trip, check out the Anhinga Trail and the Shark Valley tram. www.nps.gov/ever

• Dry Tortugas National Park – Located about 70 miles west of Key West in the Gulf of Mexico, Dry Tortugas National Park is a little difficult to reach, but the reward is well worth the effort. Catch a ride on the Yankee Freedom Ferry, a high-speed catamaran that can get you there in just a couple of hours. Go in the spring and you’ll be rewarded with the rare sight of thousands of Sooty terns and Brown noddies nesting on Bush Key. www.nps.gov/drto

Roseate spoonbills in J.N. Ding Darling Wildlife Refuge, photo by Hans.

• J.N. “Ding” Darling National Wildlife Refuge – Year-round birding and wildlife viewing is terrific on Sanibel Island. At “Ding” Darling National Wildlife Refuge, you can drive around the 4-mile Wildlife Drive and get looks at Roseate spoonbills and Gray kingbirds. Take a walk on the Indigo Trail in the summer months, where Mangrove cuckoos can be found. www.fws.gov/dingdarling

• STA5/Lake Okeechobee – It’s not a National Park or a National Wildlife Refuge, but STA-5 is one of the best birding spots in South Florida. Stormwater treatment areas are designed to filter out excess nutrients that would otherwise flow to the Everglades, but they also turn out to be excellent places for birding. To access STA-5, you’ll need to register a visit with one of the local Audubon Society chapters. The birding is fantastic year-round, and you’ll definitely add a few life-listers at STA-5. www.hendrygladesaudubon.org

If five locations aren’t enough, don’t worry. The Great Florida Birding and Wildlife Trail covers the entire state, with 514 official sites to explore. Check out www.floridabirdingtrail.com for more information.”

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

Sanibel
CONDOS
2 new listings: Mariner Pointe #733 2/2 $395K, Sanibel Arms #C4 2/2 $489.9K.
3 price changes: Sanbel Arms #C8 2/2 now $429K, Loggerhead Cay #451 2/2 now $485K, White Pelican #112 2/2 now $799K.
2 new sales: Tarpon Beach #206 2/2 listed for $667K, Gulfside Place #323 2/2 listed for $969K.

Our closing this week, Lake Palms #2

3 closed sales: Lake Palms #2 2/2.5 $235K (our sale), Island Beach Club #P3A 2/2 $450K, Tarpon Beach #205 2/2 $650K.

HOMES
4 new listings: 1520 Center St 2/2 $319K, 659 Donax St 2/2 $449K (our listing), 735 Donax St 3/2 $489K, 1480 Angel Dr 3/3 $1.545M.
2 price changes: 4563 Brainard Bayou Rd 3/3 now $649K, 1826 Woodring Rd 3/2 now $1.33M (short sale).
1 new sale: 1941 Roseate Ln 3/2 listed for $449.9K.

Our new listing this week at 659 Donax St

3 closed sales: 966 Greenwood Ct S 3/2.5 half-duplex $322.5K, 1193 Kittiwake Cir 4/3 $530K, 407 Bella Vista Way E 4/4 $2.6M.

LOTS
No new listings.
1 price change: 708 Durion Ct now $359K.
1 new sale: 5891 SanCap Rd listed for $448K.
No closed sales.

Captiva
CONDOS
No new listings.
1 price change: Sunset Beach Villas #2238 3/3 now $825K.
2 new sales: Bayside Villas #5208 1/2 listed for $255K, Bayside Villas #5134 1/2 listed for $267.9K.
1 closed sale: Beach Villas #2533 2/2 $685K.

HOMES
No new listings.
2 price changes: 11516 Andy Rosse Ln 5/5 now $1.899M, 14971 Binder Dr 4/3 now $2.695M.
No new or closed sales.

LOTS
1 new listing: 16297 Captiva Dr $1.749M.
No price changes, new or closed sales.

Here’s to a rain-free weekend or if not, at least one with more fabulous sunsets!

Don’t forget to call The SanibelSusan Team for all of your island real estate needs! (both Sanibel & Captiva)

SanibelSusan

What’s Been Happening at SanibelSusan Realty

Posted on July 12, 2013 by SanibelSusan

It’s SanibelSusan reporting that we’ve had another week of typical summer weather here on the Sanibel and Captiva Islands – a few “off and on” showers, enough to leave a bit of standing water in a few locations.

It sure made for some terrific sunsets and beautiful rainbows though. Sunset photo here by our photographer pal, Jim Anderson with JMA Photography. Rainbow photo taken this morning by teammate Dave as he was coming across the causeway on his way to work.

We also had a nice closing on Monday at Sanibel Moorings. It is such a “happy” bright delightful condo too.

Did you know that Sanibel Moorings has an ever-expanding collection of tropical gardens with many native species? Their landscaping staff has created a variety of gardens. The condo that I just sold is near their hibiscus garden which has an eye-catching hybrid variety called “Black Dragon”. It’s a real beauty, but wasn’t blooming earlier in the week when I was on the grounds. However, yesterday the Moorings Facebook page posted this photo of it.

If you too would like to check out the Botanical Gardens at Sanibel Moorings, their guests are invited to their complimentary garden tour with their Master Garden/Naturalist, every Tuesday at 9 a.m. They meet in the butterfly garden and explore the community’s six acres of gardens in approximately two hours. For just $5.00, other island visitors are invited to take the 2-hour walking tour with the same gardener on Wednesdays at 9 a.m. Please RSVP to 800-237-5144 or 472-4119 for reservations/info. Be sure to bring your cell phone/camera.

Back to the real estate news: SanibelSusan Realty got a new near-beach home listing yesterday which will be posted in the MLS on Monday at the Sellers’ request. Teammate Dave held open “condos” a couple of times this week, but didn’t get much action. The week’s activity posted in the Sanibel and Captiva Islands Multiple Listing Service follows a few other news items below.

I also worked with some prospective home buyers on Sunday who selected me based on being long-time blog followers. Love it when that social media works!

Speaking of this blog, here’s another “thank you” to Scott who shared his photo this week and said I could share it with you too. Taken at his dock, he appropriately called it “Osprey Imposter”. Isn’t it great! (No pun intended, it really is a “great” egret or “great” white heron.)

Sanibel Makes Another List – “Best Beaches in the World”

A view from the lighthouse end of Sanibel, photo courtesy of Lee County Vistor & Convention Bureau

U.S. News Travel recently posted a list of the 12 best beaches in the world. Their article says “For some beachgoers, leafy palms rustling in the breeze, calm waves lapping against the shore and remote stretches of powdery sand are all that’s required for total bliss. But for others, magnificent scenery and a bustling boardwalk are the main attractions. U.S. News Travel has compiled a list of dreamy sands that are sure to inspire you to grab your beach bag and go.”

The list includes: Seychelles, Kauai, Cayman Islands, Maldives, Bali, Anguilla, Corfu, Turks & Caicos, Rio de Janeiro, Sanibel Island, Puerto Vallarta, and Cape Town.

Snapshots of Sanibel’s Residential Real Estate Sales

When we recently mailed our Sellers their monthly listing progress report letters, they included some comparisons of Sanibel sales this year compared to 2012. Some readers requested an expansion of that info, so here are some comparisons of both the number of sales and the “median” sale price of the properties sold from the first of the year to July 12th, for 2013 and 2012. It shows more indication that Sanibel’s home segment of the real estate market is really rebounding!

SANIBEL HOMES

On beach Canal/bay with boating In golf community Near-beach with pool

2013 14 $3,245,000 23 $899,000 25 $649,900 31 $739,000

2012 8 $2,845,000 24 $814,500 27 $549,000 27 $639,000

SANIBEL CONDOS

Gulf-front 2000+sq. ft. Monthly or no rentals 2-Bedrm short-term rentals

2013 5 $1,324,000 30 $594,000 50 $509,500

2012 5 $1,950,000 20 $797,000 56 $479,000

SANIBEL LOTS

For single residence Near beach In golf community Inland

2013 12 $349,278 5 $249,000 0 N/A 2 $184,000

2012 21 $299,000 14 $289,000 1 $150,000 2 $194,450

NAR Call for Action: “Do No Harm to Homeowners”

When I saw this National Association of Realtors® (NAR) call to action on “FloridaRealtors” on-line on Wednesday, you can be sure that I responded immediately. As Realtors® spread the word on this important subject, I encourage all concerned citizens to likewise contact their personal state representatives and senators. Posted on-line at FloridaRealtors®, the article says:

“WASHINGTON – July 10, 2013 – The U.S. Congress has started to consider the U.S. tax code with an eye on getting rid of tax deductions. It’s starting with a “blank slate” approach, meaning lawmakers are to assume that all current tax deductions go away and then, one by one, add back the deductions they feel are worthy.

“That puts the mortgage interest deduction enjoyed by many homeowners in jeopardy, along with other provisions that benefit ownership and real estate investment.

“The National Association of Realtors® (NAR) wants lawmakers to understand the importance of housing to individual homeowners, and it wants to remind lawmakers of the industry’s importance in the United State’s current economic rebound.

“NAR has issued a Call for Action asking Realtors to contact their personal representatives in the U.S. House and Senate. The Call for Action system allows Realtor members, through a dedicated website, to easily send a letter to the key lawmakers that represent their district.

“Since the Call-for-Action system automatically looks up a Realtor’s representatives and has the email text filled in, it takes only a few minutes. For a number of issues facing lawmakers, the actual volume of emails plays a role as they decide how to vote on an issue.

“Senators have until July 26 to submit their tax reform priorities, and “Realtors need to make their voices heard now so real estate provisions are on the top of the Senators’ lists,” according to NAR’s Call for Action.

“There are two ways to contact lawmakers:

• Online: Visit NAR’s Realtor Action Center.

• Phone app: The app allows Realtors to quickly respond to a Call for Action and stay current on issues. Find out more on NAR’s Realtor Action Center webpage.

“NAR also encourages support messages and posts on its Facebook and Twitter feeds.”

Citizens Joins the World of Social Media

FloridaRealtors does such a great job of keeping its Realtors® informed that I want to share this one too, for those who want to stay up on what is happening with Citizens. Citizens Property Insurance Corporation was created in 2002 from the merger of two other entities to provide both windstorm coverage and general property insurance for home-owners who could not get insurance elsewhere. It was established by the Florida Legislature as a not-for-profit insurer of last resort. Headquartered in Tallahassee, it became the largest insurer in the state.

“TALLAHASSEE, Fla. – July 11, 2013 – Want to stay current on Citizens Property Insurance updates? On July 1, the Florida-owned insurer entered social media with accounts on Twitter and Facebook. Citizens says it’s responding to changes in the way customers and the public get their information, and social media gives it a better way to communicate with policyholders, agents, the media and other stakeholders.

“Initially, Citizens’ sites will focus on hurricane season activities and storm preparation. Going forward, the state-backed insurer plans to expand its social media presence to add information about company wide programs and initiatives. You can follow Citizens on:

Twitter
• Policyholders and the public: @citizens_fla
• Agents: @citizens_agents
• Media: @citizensflanews

Facebook
• Citizens Property Insurance Corporation”

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

Sanibel
CONDOS
3 new listings: Coquina Beach #5G 2/2 $415K, Mariner Pointe #112 2/2 $569K, Gulfside Place #323 2/2 $969K.
1 price change: Seawind #A109 2/2 now $399K.
4 new sales: Pointe Santo #C24 1/1 listed for $459K, Loggerhead Cay #211 2/2 listed for $519K, Cottage Colony West #103 1/1 listed for $538.9K, Sanddollar #B104 2/2 listed for $859K.
3 closed sales: Sanibel Moorings #241 1/1 $299K (our buyer), Signal Inn #12 1/1 $400K, Island Beach Club #220B 2/2 $465K.

HOMES
1 new listing: 916 Palm St 5/4 multi-family $529K.
3 price changes: 9459 Begonia Ct 3/4 now $634K, 1013 Lindgren Blvd 4/3 now $839K, 1306 Par View Dr 3/3.5 now $857K.
7 new sales: 490/460 Old Trail Rd 3/2 listed for $390K (short sale), 2079 Wild Lime Dr 3/2 listed for $430K, 1610 Sabal Sands Rd 3/2 listed for $459K, 5297 Umbrella Pool Rd 3/3 listed for $539K, 776 Conch Ct 3/2 listed for $649K (short sale), 385 Old Trail Rd 4/2.5 listed for $899K, 960 Victoria Way 3/3 listed for $1.098M.
No closed sales.

LOTS
No new listings.
1 price change: 2562 Coconut Dr now $379K.
1 new sale: 2 Island Inn Rd listed for $159,555.
No closed sales.

Captiva
CONDOS
No new listings.
1 price change: Tennis Villas #3139 2/2 now $380K.
1 new sale: Beach Villas #2533 2/2 listed for $699K.
2 closed sales: Sunset Beach Villas #2328 2/2 $572K, Bayside Villas #5344 3/3 $620K.

HOMES
No new listings.
2 price changes: 15160 Captiva Dr 6/6.5 now $1.899M, 11516 Andy Rosse Ln 5/5 now $1.975M.
No new sales.
1 closed sale: 11411 Dickey Ln 1/1 $400K.

LOTS
Nothing to report.

It’s expected to be a beautiful weekend here, hope it’s the same for you! SanibelSusan

Sanibel & Captiva Independence-Day Week Real Estate Scoop

Posted on July 5, 2013 by SanibelSusan

As a festive island week comes to an end, SanibelSusan has little real estate action to report, though there was lots of activity at the office yesterday while the Independence Day parade passed by. After several days and nights of off-and-on showers, the weather cleared perfectly in the morning for the 9:30 a.m. event.

The Sanibel parade always displays the island’s small town spirit at its best. Clients and friends know that SanibelSusan Realty is the perfect vantage point for parade-watching.

Yesterday was no exception. Local organizations and businesses were decorated for the theme, “Hometown Pride”, spectators dressed in red/white/blue were waving flags, and kiddos on the sidelines collected so many throws that they left smiling!

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Association of Realtors®

With the holiday falling on a Thursday, the Sanibel and Captiva Islands Association of Realtors® had no bi-weekly caravan meeting yesterday. But, following a few news items is a report of the new activity posted in the local Multiple Listing Service over the last seven days.

Now that the year is past the half-way mark, here is a summary of the real estate activity on Sanibel and Captiva compared to the total sales last year. More good evidence of the island market stabilizing and, in some cases, rebounding!

Condos Homes Lots

Sanibel # Average Price # Average Price # Average Price

For sale 136 $736,103 154 $1,284,754 88 $554,193

Closing Pending 24 $726,783 27 $824,044 2 $649,500

Sold & Closed:

2013 thru 7/5 97 $533,588 135 $953,940 12 $469,296

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

Condos Homes Lots

Captiva # Average Price # Average Price # Average Price

For sale 42 $828,740 42 $3,132,854 5 $2,070,000

Closing Pending 6 $768,000 3 $3,227,667 0 N/A

Sold & Closed:

2013 thru 7/5 16 $692,875 12 $2,878,250 1 $650,000

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

Sanibel’s Annual Prescribed Burns

It was in the local papers this week that like last year, JN “Ding” Darling Wildlife Refuge will conduct a series of prescribed burns during the summer. The exact day and time of the prescribed burns depend on the weather, but the target start date is Monday, July 8.

Officials announced that there will be three areas where these controlled burns will occur: 100 acres on The Bailey Tract, 135 acres at the Refuge near the Legion curve (from just after the Rec Center to the area opposite the entrance to Seaspray), and 100 acres in the Refuge along Sanibel-Captiva Road (beginning shortly after the entrance to Tarpon Bay). According to Refuge officials, these burns can prevent the likelihood of catastrophic wildfires and help preserve the national ecology of the area, including improving the habitat of several native species like the gopher tortoise, eastern indigo snake, and Sanibel rice rat.

Sanibel Rice Rat, photo from SCCF (Sanibel Captiva Conservation Foundation)

(For the record, SanibelSusan has never seen a Sanibel rice rat and according to articles I have read about them, many island biologists have never seen one either. Rice rats are not home-invasive pests, but rather semi-aquatic and they feed on seeds, insects, crabs, snails, fish, birds — even fungi. They face an array of predators, including owls, snakes and foxes.)

Homeowners are reminded that there are several things they can do to reduce risk of wildfires. Some include:

Trimming dead palm fronds and branches from trees.
Trimming tall grasses near a home.
Pruning large leafy hardwood trees so the lowest branches are 6-10′ high.
Removing combustible materials such as gasoline containers, firewood, & building supplies from under or around a home.
Keeping mulch & other landscape materials well watered.

“Taste of The Islands” Returning to The Dunes

Old-timers like me remember the early days of the “Taste of the Islands” when this annual fund-raiser for CROW (Clinic for the Rehabilitation of Wildlife) was held at The Dunes Golf & Tennis Club. It was announced this week, that this year, it is returning to its original location.

If you enjoy this event, it is not too early to mark your calendars for the 32nd Taste of the Islands on Sunday, November 10, from 11 a.m. to 4 p.m. where you can sample a wide variety of food samples from more than 20 local restaurants.

The event includes live entertainment, a silent auction, T-shirts, and more for sale from the CROW gift shop. It is always a lot of fun, plus for such a terrific cause!

Representatives from CROW and The Dunes have agreed to a minimum 3-year plan for the event to return to its original site.

South Florida’s Luxury Condo Boom: Helicopter Pads, Car Elevators & Leather Walls

Those of us living on the west coast of Florida often remark at how different life is on the other coast. This press release posted Monday by PRWeb.com on the on-line “Digital Journal” is a fun read and well illustrates the diversity.

“In 1868, Miami Beach real estate sold for just 35 cents an acre. The buyer was John Lum who wanted to build a coconut plantation. Today, instead of coconut plantations, the South Florida Gold Coast is booming with some of the most expensive and upscale condominium projects in the world. The Miami Beach to Fort Lauderdale strip has cruised past its condo bust years and has launched into a real estate stratosphere that no one would have predicted a few years ago. If you have the money, it seems that there is a new project somewhere in South Florida that is offering something new, unique and very pricey.

“How about a sparkling, new Florida highrise where you will be able to take your car with you up to your living room? Even the penthouse? Porsche Design Group has begun construction of a 132 unit tower in Sunny Isles Beach, near Miami Beach, that will be the world’s first condominium complex with an elevator and sky garages that will take cars directly to owners’ condos. Units are priced from $4.7 to $13 million and are already over 50 percent sold out. In addition to convenient parking up to 57 stories, the building also offers plunge pools, a golf simulator, summer kitchens, a ballroom, a 4-car virtual race simulator, and a 10,000 square foot oceanfront display space for car collectors. Expected completion date is 2015.

“Or, skip the car lift and take to the sky with a roof helicopter pad and a private helicopter lounge at One Thousand Museum in Miami. Construction starts next year on a 32 unit, ultra-contemporary building designed by Zaha Hadid, the first woman to win the coveted Pritzker Architecture Prize. Zaha is famous for her futuristic designs that many people say are “works of art.” She also won Stirling Prizes in 2010 for the MAXXI Museum of the Arts in Rome and London’s Evelyn Grace School in 2011. Although the building won’t be finished until 2017, it is already 50 percent reserved. Half and full-floor residences range from $4.3 to $12.25 million.

“Another Sunny Isles project under construction claims that it will have the “world’s finest penthouse.” Built by the Trump Group (not Donald, but an unrelated Trump family that started in South Africa), the Mansions at Acqualina feature a $55 million penthouse with retractable glass walls overlooking the Atlantic Ocean, a 25-foot water fall and glass pool, leather walls, six bedrooms, sky garden and an indoor-outdoor theater. Mansion condo prices start at $8 million.

“Back where it all started in Miami Beach, the Related Company is using a premier location at the southern tip of South Beach, flashy building design, ocean views and expensive major art works to attract buyers looking for the South Beach life style of celebrities, models and professional athletes. One Ocean is under construction with 46 condos, four ocean villas, a zen park and a private beach club priced from $2 million to $10 million.

“Much of the recent Florida real estate demand is coming from internationals who see the area as a bargain and a safe place to invest money. Apogee Beach in Hollywood, Florida is one of the few new developments to be completed since the condo crash. It started construction in 2012 with 49 units priced in the $1 to $2 million range and sold out in just a few months, mostly to South Americans. Some new developments are spending most of their ad money outside the United States and are selling out before the first shovel even hits the sand….”

Are The Rising Prices Tempting More Home Owners?

Here is another interesting real estate article that also mentions two Florida markets. It was published Tuesday by “Daily Real Estate News” and sources the “Associated Press”:

“With rising home prices, more home owners are finding they can sell without fear that their mortgage is worth more than their house. The number of sellers coming onto the market is serving as a relief to home buyers who were becoming increasingly frustrated at the lack of inventory and increased bidding wars, the Associated Press reports.

“”It’s a “virtuous circle,” says Mark Fleming, chief economist of CoreLogic, a real estate data provider. “The fact that house prices have increased so dramatically … has unlocked a lot of that pent-up supply.”

“From January to March, about 19.8% of homes nationwide with a mortgage are considered “underwater” — that’s a drop from 23.7% a year earlier. The largest percentage of underwater homes in the nation are often found in the markets with the lowest supply of homes for sale, according to CoreLogic. Tampa Bay, FL, and Miami have the highest number of underwater mortgages of metro areas at 41.1% and 40.7%, respectively.

“Housing inventories remain constrained in many markets. As of May, there’s a 5.2-month supply of existing homes for sale nationwide, according to the National Association of REALTORS®. One year earlier, the supply of homes stood at 6.4 months.

“Some home owners may continue to resist selling despite regaining equity, believing that home prices may rise even more if they wait, economists say. However, economists predict that as inventories increase, home price increases will moderate.”

Sanibel & Captiva Islands Multiple Listing Service Activity June 28 – July 5

Sanibel
CONDOS
2 new listings: Sanibel Siesta #701 2/2 $525K, Sundial #O307 2/2 $975K.
2 price changes: Loggerhead Cay #411 2/2 now $539K, Sanddollar #B104 2/2 now $859K.
4 new sales: Cottage Colony West #128 1/1 listed for $549K, Surfside 12 #C4 3/2 listed for $775K, Gulfside Place #103 2/2 listed for $939K, Plantation Village #212 3/2 listed for $1.085M.
4 closed sales: Blind Pass #E201 2/2 $375K, Lighthouse Point #318 3/2 $415K, Loggerhead Cay #133 2/2 $600K, White Pelican #111 2/2 $792K.

HOMES
1 new listing: 1073 Sand Castle Rd 3/2 $589K.
3 price changes: 1644 Atlanta Plaza Dr 2/2 now $497K, 776 Conch Ct 3/2 now $649K (short sale), 1203 Isabel Dr 2/3 now $1.395M.
3 new sales: 1409 Sandpiper Cir 2/2 half-duplex listed for $304K, 691 Cardium St 4/3 listed for 949K, 1249 Par View Dr 4/4.5 listed for $1.395M.
5 closed sales: 4458 Waters Edge Ln 3/2 $780K, 657 Birdie View Pt 3/3 $797.5K, 912 Almas Ct 3/2.5 $937.5K, 1743 Venus Dr 4/3.5 $1.3M, 4164 West Gulf Dr 4/4 $1.725M.

LOTS
1 new listing: 2403 Blue Crab Ct $499K.
No price changes or new sales.
1 closed sale: 2494 Blind Pass Ct $625K.

Captiva
CONDOS
No new listings, price changes, or new sales.
1 closed sale: Sunset Beach Villas #2328 2/2 $572K.

HOMES
No new listings.
1 price change: 15631 Captiva Dr 5/4.5 now $2.1M.
No new or closed sales.

LOTS
Nothing to report.

Until next week, here’s hoping that you & yours continue to enjoy your Independence Day holiday!

SanibelSusan

Counting Down to July 4th on Sanibel & Captiva Islands

Posted on June 28, 2013 by SanibelSusan

A fond memory from the 2003 Sanibel parade

There was probably what is best referred to as a modest amount of visitor traffic on the islands this week – really pretty quiet – until today, that is, when the holiday visitors began arriving. Many businesses are starting to break out their red-white-&-blue with expectations that more vacationers will fill accommodations over the 4th holiday. Most of those coming for a week will arrive tomorrow.

Weather-wise, it has been typical summer all week with bright sunny days in the high 80’s/low 90’s followed by afternoon thunderstorms – though some days those don’t make it onto the island. More of the same is expected next week.

Real Estate News

Our newest listing at 9477 Peaceful Drive

As the report of the activity posted this week in the Sanibel and Captiva Multiple Listing Services below shows, there were just a couple of new listings on Sanibel this week and several more closings. (We received a new home listing, just this afternoon, which is why this blog is being posted a little late today. That new business comes first!)

Many of the sales contracts written during high season are scheduled to close today and early next week, so by next week’s blog, I should be able to report solid data on where our market stands at the half-year mark. It will be good news!

Holiday Happenings on Sanibel Island

Teammates Dave & Elise getting holiday ready in 2011

Here is a list of the Independence Day events, all on Thursday, July 4th:

23rd Annual Independence Day Parade starts at 9:30 a.m. at Island Inn Road and Tarpon Bay Road and runs along Periwinkle Way to Casa Ybel Road. The theme is “American Hometown Pride” with nine categories to be judged. Parade t-shirts for sale along the route.

Post-parade refreshments and water at Jerry’s Foods across from where the parade ends with free hot dogs, soda, and snow cones. Also water slides, dunk tank, face painting, and bounce house, all to benefit the Boy Scouts of America.

34th Annual Road Rally organized by the San-Cap Optimist Club begins at noon at Timbers Restaurant/Sanibel Grill parking lot and ends there for an “afterglow” party. Teams puzzle out clues which follow a prescribed driving course around the island. Prizes will be awarded for best decorated vehicle, correct time, mileage, and the most correct answers to a quiz about things seen along the route. Proceeds go to fund college scholarships.

Fireworks Party 2013 at The Dunes Golf and Tennis Club from 4 to 9 p.m., with food and beverage tickets for sale. Offerings include pig roast, grilled hot dogs, hamburgers, and chicken, plus putting contest and children’s games.

Fireworks will go off at dusk, as usual at the end of Bailey Road over San Carlos Bay.

Local Realtors® Get Legal Update

Margy Grant, Vice President and General Counsel for Florida Realtors®, was on the island this morning giving our Sanibel and Captiva Islands Association of Realtors® members a legal update on a variety of subjects. It is always a treat for us to have members of Florida Realtors® staff here, when we can learn from their experiences at both the state and national level, plus get answers to our own specialized questions. Margy’s presentation covered such relevant topics as Realtors® IDX (Internet Data Exchange), the National Flood Insurance Program, short sales, upcoming contract form changes, advertising, and the various policies needed when working with social media. Florida Realtors® Legal Hot Line – which is one of her responsibilities – is a terrific resource for our members whenever we have questions about a specific issue. These lines are manned by attorneys. More than 50,000 questions are fielded each year. I look forward to seeing Margy and her team again in August during our annual committee meetings, convention and trade show.

Exciting News from BIG ARTS

This week, fellow BIG ARTS members received a mailing from their President which discussed the Board of Directors recent meeting about the organization’s future direction. The letter said that for several years, the Board has seen the need to expand their educational offerings to meet the demands of their more than 1250-member families, to support the over 40,000 attendees who enjoy their music, dance, theater, film, lecture programs, youth camp, and special events, and the 7500+participants in their workshops and enrichment programs. It was hoped that their existing facilities which are on City property could be improved to meet their expansion requirements, but it seems that due to construction constraints, this is not the case.

The letter further went on to say “simultaneously with our own study, the City of Sanibel began to evaluate how to better integrate various arts and education activities into a “civic core” that would include 25 acres of City-owned land on Dunlop Road east of the library where the public works department is currently located. BIG ARTS Board of Directors met recently to consider the new direction. Mayor Kevin Ruane joined the meeting and described the City’s vision and plan. After discussion and deliberation our Board voted unanimously to work with the City on a new home in the civic core.”

A letter attachment prepared by the Barrier Island Group for the Arts and Toppe Consultants, Inc. (architects, planners, theater consultants) describes their “Needs Assessment” and was submitted to the City to document BIG ART’s vision and needs. “BIG ARTS is excited about the possibilities for their members and patrons and for the community as a whole.” Over the summer, they will be working with the City on a master plan for the new center.

City Manager, Judie Zimomra, posted some Facebook photos this week taken during the first of those meetings. How exciting is that?

As a long-time singer with the BIG ARTS Community Chorus which has grown to so many members that we no longer fit on the stage in Schein Performance Hall, I am excited too! Stay tuned.

The State of the Nation’s Housing 2013

The State of the Nation’s Housing report was posted on line this week. This report has been produced annually since 1988 by Harvard University’s Joint Center for Housing Studies. Here’s some info from its “fact sheet” – or read the full report at http://www.jchs.harvard.edu/research/state_nations_housing

“Now in its 25th year, it (this report) continues to serve as an essential resource for both public policy makers and private decision makers in the housing industry. This year’s report provides a current assessment of the state of the housing market and the foreclosure crisis; the economic and demographic trends driving housing demand; the state of mortgage finance; and ongoing housing affordability challenges.

“Findings

LONG-AWAITED HOUSING RECOVERY TOOK HOLD IN 2012

Rising Home Prices and Rents are Clearest Sign of Recovery

After across-the-board declines in 2011, all major house price indexes registered significant increases in 2012.
By March 2013, the median house price in the United States was up 11.6% year over year.
As of April 2013, home prices were up year over year in all but two states and in 94 of the 100 metropolitan areas tracked by CoreLogic.
Between the fourth quarter of 2011 and the fourth quarter of 2012, the number of underwater homeowners fell 1.7 million, to 10.4 million.
April 2013 marked the 34th consecutive month of growth in rents as measured by the consumer price index and the 15th consecutive month of year-over-year increases of 2.5% or more….”

Doc Ford’s Scoop

Now that high season is over, the local worker bees, like me, in need of a “quick lunch” are back to patronizing the local eateries. When at Doc’s Ford’s Sanibel location this week, I got a little scoop on their new restaurant under construction out on Captiva. Staff members are excited about how well the work is progressing on that all-new restaurant just outside the entrance to South Seas Resort at 5400 Plantation Road (former location of Holy Smoke Heavenly Barbeque, Chadwick’s Restaurant before that). Called Doc Ford’s Captiva Rum Bar & Grille, it sounds like it will probably be opening soon, most likely in August. New servers are being trained now and it sounds like it will have the same popular menu as Doc’s other locations.

Improve a Cell Phone’s Weak Signal

“Daily Real Estate News” on-line posted an article yesterday about dropped calls or weak connections which are common cell phone complaints. A recent article in The New York Times highlighted some ways signal strength may be improved. Those living on Sanibel’s east end – like me – are familiar with the areas where phone signals are not good. I have successfully used one of the remedies (a 3G MicroCell) suggested in this article, so hopefully by repeating that info here, it will help someone else too.

“If you don’t receive a good signal indoors, check with your cell phone carrier. All major carriers sell a device or technology that allows access to the standard cellular network via a home’s broadband connection (such as AT&T’s 3G MicroCell or Verizon’s Network Extender). You just plug the device into your router and it can potentially help to improve your connection quality as much as five bars.

“T-Mobile offers Wi-Fi Calling, which allows users to make calls over a Wi-Fi network when cell reception is poor. But an iPhone would not work with this system; you need a Wi-Fi Calling-capable phone to use it, such as an Android or BlackBerry.

“Signal boosters may also help. Boosters can amplify signal strength, but the hardware is bulky. The benefit with this option is that boosters don’t require you to have a certain carrier in order to add them.

Phone carriers are debuting HD Voice, boasting that it can reduce background noise and improve voice calls so it’s like talking to someone on a landline. But the technology is in its infancy. It’s currently only delivered on certain phones, and will only work over LTE networks with some carriers.”

Source: “Remedies for Better Cellphone Signal and Quality,” The New York Times (June 26, 2013)

Sanibel & Captiva Islands Multiple Listing Service Activity June 21 to July 5

Sanibel
CONDOS
2 new listings: Spanish Cay #D4 2/2 $325K, Coquina Beach #4F 2/2 $439.9K.
2 price changes: Sandpiper Beach #103 2/2 now $589K, Kings Crown #313 2/2 now $590K.
4 new sales: Captains Walk #A2 1/1 listed for $175K, Mariner Pointe #1083 2/2 listed for $399K, Signal Inn #12 1/1 listed for $419K, Sundial #E308 2/2 listed for $835K.
11 closed sales: Sanibel Arms West #M3 2/2 $385.5K, Sanibel Arms West #M2 2/2 $375K, Sanibel Arms West #H2 2/2 $435K, Lighthouse Point #230 2/2 $465K, Sundial #L202 2/2 $489K, Nutmeg Village #202 2/2 $585K, Coquina Beach #2E 2/2 $585K, Nutmeg Village #105 2/2 $610K, Pointe Santo #C26 2/2 $625K, Surfside 12 #B4 3/2 $830K, Atrium #101 3/3 $970K.

HOMES
3 new listings: 9477 Peaceful Dr 3/2 $499K (our listing), 1014 S Yachtsman Dr 3/2 $585K, 5321 Punta Caloosa Ct 3/3 $1.094M.
2 price changes: 1249 Par View Dr 4/4.5 now $1.395M, 1950 Woodring Rd 4/3.5 now $2.475M.
3 new sales: 1021 Sand Cast Rd 2/2 listed for $409K (short sale), 1667 Sabal Sands Rd 3/3 listed for $450K, 1251 Anhinga Ln 3/3 listed for $1.995M.
11 closed sales: 1805 Ibis Ln 2/2 $350K, 9446 Yucca Ct 3/2 $480.5K, 1744 Bunting Ln 3/2 $560K, 1045 Blue Heron Dr 3/3 $575K, 526 N Yachtsman Dr 2/2 $620K, 1405 Jamaica Dr 3/2.5 $620K, 1255 Isabel Dr 3/3 $869K, 940 Victoria Way 3/3 $900K, 919 Almas Ct 3/2.5 $935K, 479 Lagoon Dr 3/3 $1.025M, 2429 Wulfert Rd 4/4.5 $1.275M.

LOTS
Nothing to report.

Captiva
CONDOS
No new listings or price changes.
1 new sale: Lands End Village #1625 2/2 listed for $1.225M.
No closed sales.

HOMES
Nothing to report.

LOTS
Nothing to report.

We’ll be putting up our holiday “stars” on Monday so SanibelSusan Realty is ready for the 4th! Until next Friday, best wishes for a safe & happy holiday!

First Day of Summer & Real Estate News on Sanibel Island

Posted on June 21, 2013 by SanibelSusan

It is another sunny summer afternoon on Sanibel Island. Here are a few news items, followed by the Sanibel and Captiva Islands Multiple Listing Service activity for the past seven days.

June 20, 2013, gulf beach on the Captiva side of Blind Pass, photo by Lisa Murty

Monthly Realtor Membership Meeting

Yesterday, our June Sanibel and Captiva Islands Association of Realtors® Membership Meeting was well attended, but only a handful of new listings and sales were announced. There also were few properties on the morning caravan – definitely more indications that we are now in what is usually called the “off season”. (In fact, with the Independence Day festivities now less than two weeks away, there will not be another Realtor® Caravan until our next membership meeting the middle of July. There just are not enough new listings this time of the year.)

In keeping with the 2013 Professional Development Committee’s program to learn from our affiliate business partners, the educational session portion of yesterday’s meeting covered “Red Flags” in the title company business. Thanks to Nanci Berlin with Barrier Island Title Services, Amanda Curran with Superior Title Services, Doug Stevens with Stewart Title Company, and Cathy Mann-Seiple with Fidelity National Title of Florida for participating.

Teammates Dave and Lisa viewed caravan properties and while out-&-about snapped a couple of beach pictures in the Blind Pass area.

The beach at Blind Pass yesterday, photo by David Anderson

June 20, 2013, beach at Blind Pass looking to Sanibel side, photo by David Anderson

SanibelSusan Team Action

I was out showing property twice this week to long-time clients and then after having a good walk-in, also met several times with some folks considering moving here. These prospective buyers both were disappointed that there is not much inventory that meets their requirements (gulf-front homes for one couple and entry-level homes near the beach for the other).

Those are the two of the products that have seen the most action this year. For example on the beach on West Gulf Drive, where homes can be in the $2‑ to 10‑million range, there are just three currently for sale, while five already have sold and closed this year. At the other end of the price spectrum, considering near-beach Sanibel pool homes under $550K, those choices are limited too. Six homes like that have already have sold with just three remaining for sale. Sure wish we could get the same interest in the mid-price range properties, particularly condos, a lot of that inventory remains.

We received a new condo listing this week that it is not the typical gulf-side 2 bedroom/2 bath, but rather a fully remodeled and expanded ground-level 3 bedroom with bay views at Mariner Pointe. Mariner Pointe, near the causeway and adjacent to the Sanibel Marina, is the island’s only peninsula complex and great spot for boaters, fishermen, outdoorsmen, and other water lovers. Owners there include use full-time residents, 2nd-home owners, snowbirds, vacationers, and some investors too, as weekly rentals are permitted. With on-site manager, long-time grounds staff, and multiple amenities (deeded beach access on East Gulf Dr, 2 swimming pools, tennis courts, shuffleboard, private fishing pier, bbq areas, and boat dockage (by annual lease)), it also offers some of the most affordable condo living on the island.

One of the two community pools at Mariner Pointe overlooks San Carlos Bay

Sanibel Lighthouse – Summer Rehab Project

This past Monday, June 17, the City of Sanibel began a rehabilitation project to the Sanibel Lighthouse and construction will continue through September 2013. The road leading to the Lighthouse starting just beyond the fishing pier parking lot will be closed for use during this construction project. The fishing pier and adjacent parking lot will remain open.

Mark Your Calendars for the 1st Upcycle Art Fest on Sanibel

Ding Darling Wildlife Society has announced a new event to benefit the J.N. “Ding Darling National Wildlife Refuge. To be held at the Sanibel Community House April 26-27, 2014, in the spirit of “Ding” Darling, this inaugural event will provide an artistic venue and marketplace to showcase fine art and craft of the highest quality made from recycled and repurposed material. It also will educate and entertain the public on the importance of recycling and protecting wildlife.

Should Boomers Worry About Millennials’ Housing Shift?

RealtorMag on-line in their Daily Real Estate News on Monday reposted an interesting article from “The New York Times” about home loans for millennnials. If you missed it, in part, it says:

“The Millennial generation is showing different housing preferences than previous generations, and some analysts say that Baby Boomers may be growing concerned that they will have a tough time selling their suburban, larger homes due to the Millennials’ differing tastes. The Millennial generation has been called a key to the housing recovery, and housing experts are taking careful note of how the younger group’s housing preferences differ from previous generations.

“A new survey by the Urban Land Institute’s Terwilliger Center for Housing shows that about 60% of the millennial generation say they prefer a mix of housing choices and prefer to be near shops, restaurants, offices, and transit. Seventy-five percent of Millennials say they value walkability. Of the 63% of Millennials who say they plan to move within the next five years, about 40% say they expect to move to multifamily housing.

““I do think their preferences are going to result in sustained change,” says Lynn Ross, the executive director of the ULI Terwilliger Center for Housing. “This group is so different from previous generations.”

One of the biggest obstacles facing this generation is student loan debt. Fifty-four percent of those aged 22 to 32 said that debt is their biggest financial concern. Forty-two percent referred to their debt as “overwhelming.” “This generation has been through an incredibly difficult time, and I think it is ultimately going to operate very similarly to the generation that went through the Great Depression,” Ross says.”

Florida Realtors Take Part in Florida Governor Scott’s Business Mission to France

I read a Paris posting this week by our Sanibel pal and Florida Realtors® 2013 President Dean Asher and our Association’s Senior Vice President of Public Policy, John Sebree.

Here’s Dean addressing trade mission attendees.

“Representing Florida’s Realtors® and the interests of the state’s real estate industry, Florida Realtors® President Dean Asher and Senior Vice President of Public Policy John Sebree are in France this week with Gov. Rick Scott and other key business leaders to show French companies and individuals that “Florida is a great place to do business.” The trade mission is at the 50th International Paris Air Show.

Representatives from about 80 Florida-based aviation, aerospace and defense companies, educational institutions and economic development agencies are participating in the bi-annual Paris Air Show, which is recognized as one of the world’s top aviation and space industry events, according to Enterprise Florida…

“The Sunshine State is home to one of the largest aerospace and aviation industries in the U.S. – Florida has more than 2,000 companies related to the industry, 12 aviation military bases, three spaceports and dozens of colleges and academic programs that offer aerospace and aviation training. The industry employs more than 87,000 workers across the state.

“During the event, Asher and Sebree met with members of the French national real estate federation, known as FNAIM, to discuss expanding the ties between the two associations, and developing more real estate opportunities. FNAIM is the largest professional real estate organization in Europe. The organization represents about 8,000 agencies and 37,000 real estate experts specializing in over 12 different professions in the property sale, management expertise and consultancy sector.

““French buyers see Florida as a great destination for a second home,” says Asher. “According to Florida Realtors’ latest research (the 2012 Profile of International Home Buyers in Florida), buyers from France are investing all over the state.” The 2012 report found that French nationals made up 5% of the international buyers purchasing homes in the Miami-Miami Beach area; 5% of the international home buyers in the Orlando-Kissimmee area; 6% of international home buyers in the Bradenton-Sarasota-Venice area; and 10% of international home buyers in the Palm Beach area.”

SanibelSusan has worked with many European buyers through the years and too has recently noticed more visitors from France. Just last year, I sold a wonderful east-end near-beach lot listing to a wonderful couple who live in France for part of the year. Loving Florida and especially Sanibel is an international experience! They are building a vacation home here now.

Sanibel & Captiva Islands Multiple Listing Service Activity June 14-21

Sanibel

CONDOS

5 new listings: Sanibel Siesta #501 2/2 $539K, Loggerhead Cay #252 2/2 $579K, Mariner Pointe #711 2/2 $599.9K (our listing), Sanddollar #A104 2/2 $879K, Bougainvillea #4 3/3 $1.125M.

2 price changes: Sundial #G205 now 1/1 $299,999, Tamarind #A101 2/2 now $1.505M.

1 new sale: Spanish Cay #C3 2/2 listed for $339K.

4 closed sales: Sundial #C201 1/1 $225K, Sanctuary Golf Villages #3 2/2.5 $500K, Pointe Santo #C32 2/2 $575K, Pelicans Roost #206 2/2 $780K.

HOMES

2 new listings: 1709 Sand Pebble Way 4/3 $449K, 5753 Pine Tree Dr 3/4 $895K.

4 price changes: 1409 Sandpiper Circle (1/2 duplex) 2/2 now $299K, 3168 Twin Lakes Ln 3/2 now $629K, 1251 Anhinga Ln 3/3 now $1.995M, 428 Bella Vista Way 4/4 now $1.996M.

2 new sales: 1076 Captains Walk St 2/2 listed for $575K, 1241 Junonia St 3/3 listed for $719K.

2 closed sales: 916 Beach Rd 3/3 $800K, 1694 Dixie Beach Blvd 3/2 $950K.

LOTS

1 new listing: 4405 West Gulf Dr $7.998M.

2 price changes: 1307 Par View Dr now $245.5K, 1837 Buckthorn Ln now $379K.

No new or closed sales.

Captiva

CONDOS

1 new listing: Lands End Village #1660 3/3 $1.595M.

No price changes.
2 new sales: Sunset Beach Villas #2222 1/1 listed for $529K, Lands End Village #1611 2/2 listed for $1.215M.

No closed sales.

HOMES

1 new listing: 16785 Captiva Dr 3/3.5 $2.35M.

No price changes.
1 new sale: 15166 Wiles Dr 3/2.5 listed for $2.995M.

No closed sales.

LOTS

Nothing to report.

Wishing you a weekend of sunny summer days & bright moonlit nights!

Here’s the resident turtle in the bayou behind our lot listing at 4626 Buck Key Rd, photo by David Anderson

Another view of Blind Pass on June 20, 2013. Photo by Lisa Murty.

Gorgeous Summer Weather & Real Estate Happenings on Sanibel & Captiva Islands

Posted on June 14, 2013 by SanibelSusan

White herons like Pointe Santo too!

It is another happy Friday here on Sanibel Island.

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

Vacation fun at Pointe Santo

SanibelSusan finalized three transactions this week: a Pointe Santo condo listed for sale, a Sanibel Moorings condo sale, and two closings, an East Rocks and a Sanibel Bayous home.

Otherwise, the islands were pretty quiet – just some afternoon thunder showers – which make for beautiful sunsets. It is definitely summer-mode here now!

The beach today at Sanibel Moorings

Sanibel Authorizes Work Toward a Civic Core Master Plan

Sanibel Planning Commission, with City Council direction, is reviewing sections of the Land Development Code with the goal of developing a Civic Core which would ease public safety, traffic, and parking concerns at community facilities like the Sanibel Library, City Hall, BIG Arts, the Sanibel Historical Museum and Village, and the Center-4-Life, and for various events like the Farmers Market. Their input is expected for the next City Council Meeting on July 16. That is also the meeting when the annual Sanibel millage rate is expected to be set.

Three Sundial Restaurants Open to the Public

This week, islanders got an invite to Sanibel Summerfest celebrating the opening of the three new restaurants and lounges at Sundial Beach Resort and Spa.

Now open to the public, they include “Waterview” which is the more formal dining room with panoramic view of the gulf, the casual “Turtles Cafe and Patio” also on the main level overlooking the pool to the beach, and “Sea Breeze” cafe downstairs near Turtles Tiki Bar where island Troubadour Danny Morgan plays Friday, Saturday, and Sunday from 1 to 4 p.m.

Summer Happenings at Sanibel Historical Museum & Village

The spring/summer issue of “The Old Village Voice” arrived this week. It reports that Sanibel’s Historical Museum and Village had over 7,000 visitors through April. Over 450 were children. A major upgrade at the village this past year is the addition of Shore Haven, their founder Elinore Dormer’s home, and its caretaker’s cottage. Over the upcoming year, these recent acquisitions will be restored and the village paths modified and native vegetation added to accommodate them.

If you like visiting the Museum in the off-season, they are now operating on their summer schedule of Wednesdays to Saturdays, 10 a.m. to 1 p.m. (They will close August 4 and reopen November 6 on full hours, 10 a.m. to 4 p.m.)

If you are looking for a special gift, the Gift Shop in Bailey’s Old General Store at the Village has some unique offerings. Or if you are looking to volunteer, check out the Museum website. Become a docent!

Sanibel Public Library Summer Happenings

I love it when I am working with prospective buyers new to the island and they visit the Sanibel Library for the first time. Suffice it to say, it always receives glowing reviews, as it did again last week from some folks who now have visited it several times while here for their condo-hunting expedition.

The Sanibel Public Library spring/summer newsletter “Palm Reader” just came out too. The Library is gearing up for its 2013 Summer Reading Program. Children will be “Reading for Others” just like last year, when they earned 857 books for the Children’s Hospital at Lee Memorial Health System. This year, they want to break the 1,000 book mark.

Downloading eBooks and audiobooks to tablets, phones, and iPods just got easier with an upgrade at the Sanibel Public Library’s eShelf service. Visit the Library’s Technology Lab or contact the Library technology staff to schedule an appointment.

Here’s a link to the library’s website. This is another organization/facility also operating with the help of many volunteers, nearly 5,000 hours this year!

Summer Arts Camp at BIG ARTS

From kindergarten-age right through high school, there is something for every one this year at BIG ARTS. Monday through Friday from 9 a.m. to 3 p.m. through July 26, activities are designed for children to get creative and keep engaged during school break.

BIG ARTS Summer Arts Camp 2013 flyer

Activities include acrylic painting, dance, puppetry, improvisational acting, music appreciation, folk art, and general arts and crafts. Middle and high schoolers have the option to attend as a student or participate in an apprenticeship program.

Sanibel Captiva Island Association of Realtors®

Though there was no Realtor® Caravan Meeting yesterday, we had a presentation on Wednesday by three of our affiliate insurance brokers.

Flood insurance continues to hold the attention of all of us as the requirements of the Biggert Waters Flood Insurance Reform Act of 2012 are enacted. As the 2013 Chairman of our local Realtors Professional Development Committee, I facilitated the meeting. Though I have mentioned flood insurance in other recent blogs, it is worth repeating. This is serious stuff! I encourage all owners who have questions to contact their insurance carriers for advice particular to their property.

The Wednesday presenters were: David Arter with Private Client Insurance Services, Chris Heidrick with Heidrick & Co. Insurance, and Dawn Zettler with Insurance and Risk Management Services, Inc. Here is some summary info from Chris’s handout about what structures are impacted:

“Which Pre-FIRM Special Flood Hazard Area (A & V Zone) Structures Are Impacted?
(Pre-FIRM means when the community began using the Federal Flood Insurance Rate Maps. On Sanibel the Pre-FIRM date applies to a property constructed before April 16, 1979. Unincorporated Lee County joined the National Flood Insurance Program in September 1984.)

Primary Residence (Owner-Occupied 80% of the year – 292 nights):
Policy purchased prior to 7/6/12: will increase ~20% this year. Some subsidy will remain.
Policy purchased 7/6/12-9/30/12: full flood rate applies at next renewal on or after 10/1/13. Grandfathering will be eliminated at next renewal. Elevation certificate will be required or tentative/provisional rates will be applied.
Policy purchased 10/1/13 or later: full flood rate applies immediately, ineligible for grandfathering.

Non-Primary Residence
Policy purchased prior to 7/6/12: will increase 25% per year until full flood rate is reached, effective 1/1/13.
Policy purchased 7/6/12-9/30/12: full flood rate applies at next renewal on or after 10/1/13. Grandfathering will be eliminated at next renewal. Elevation certificate will be required or tentative/provisional rates will be applied.
Policy purchased 10/1/13 or later: full flood rate applies immediately, ineligible for grandfathering.

Condo Associations
Policy purchased prior to 7/6/12: regular rate increases. Subsidy will remain.
Policy purchased 7/6/12-9/30/12: full flood rate applies at next renewal on or after 10/1/13. Grandfathering will be eliminated at next renewal. Elevation certificate will be required or tentative/provisional rates will be applied.
Policy purchased 10/1/13 or later: full flood rate applies immediately, ineligible for grandfathering.

Non-Residential (Commercial Structures)
Policy purchased prior to 7/6/12: increase 25% per year until full flood rate is reached.
Policy purchased 7/6/12-9/30/12: full flood rate applies at next renewal on or after 10/1/13. Grandfathering will be eliminated at next renewal. Elevation certificate will be required or tentative/provisional rates will be applied.
Policy purchased 10/1/13 or later: full flood rate applies immediately, ineligible for grandfathering.

Notes: Full flood rate is the rate based on the Elevation Difference (lowest floor elevation – base flood elevation) in the current flood zone, as defined by a Flood Elevation Certificate. Policies with tentative/provisional rates are not eligible to receive claim payments and cannot be renewed.”

Summer Storm Prep

Island Water’s summer newsletter, “IWA Pipeline” offers a good reminder: “Turn off your house (water) valves when you leave the islands for storms or extended periods of time. Water pipe breaks and leaks are wasteful and can be expensive. Water leaks inside an unoccupied home can be disastrous. Failed dishwasher, washing machine, and ice maker hoses can all lead to a very bad day inside an unoccupied home. There is a very good side to storm season – more RAIN – and hence lower consumption and increased water conservation!”

Ways a Property May Turn Off Buyers

Bankrate.com recently featured a list of the top ways buyers back away from a property listed for sale. Its list includes these items, among others:

“Dirt – The No. 1 biggest mistake is not getting a property in the best possible condition…including steam-cleaning tile/grout and carpets and replacing carpets if necessary.

“Odors – …have curtains and upholstery cleaned, particularly if someone in the property is a smoker, and take steps to eliminate any pet odors.”

“Old fixtures – …outdated ceiling fans and light fixtures should be replaced prior to listing… New cabinet hardware and doorknobs are relatively inexpensive, but can make a huge difference.

“Wallpaper – When buyers see wallpaper, they think of another thing to add to their to-do list….

“Popcorn acoustic ceilings – These ceilings were popular in the 1960s/1970s but now can date a property….

“Too many personal decorative items – Clutter makes it difficult for buyers to see past the …belongings and start envisioning themselves there.”

Equity Membership Cost Increasing at The Sanctuary

Sheryl Tatum, Director of Membership and Marketing at Sanibel’s Sanctuary Golf Club, always does a good job at keeping Realtors® up-to-date on changes at the facility. Her June issue of their newsletter, the “Sanctuary Sound”, says:

“This is a reminder to you regarding the upcoming changes to the Equity Membership at The Sanctuary Golf Club. The Board of Governors of the Club approved an increase in the price of its Equity Membership to $110,000, effective July 1, 2013. The ability to pay for your membership in two installments if you are under the age of 60 years old is also being limited to younger than 55 years old effective July 1. If you join now as an Introductory Member and pay the $10,000 membership fee, you can retain the $100,000 price and save $10,000 when you convert to the Equity membership. If you are under the age of 60 years old, you can also lock in the two-installment option with your second payment due at 60 years old. Just send the Application for Membership and the $10,000 membership fee before July 1, 2013. The Application for Membership will be processed this summer. The annual dues will begin on October 1, 2013, as well as the membership. (If you are on island during the summer months, feel free to use the Club facilities and the nine reciprocal golf clubs.)

Note: There are a limited number of Equity and Social Memberships. Contact Sheryl Tatum at 239.322.5182 or statum@sanctuarygc.net to JOIN TODAY!”

Sanibel & Captiva Islands Multiple Listing Service Activity June 7-14

Sanibel
CONDOS
3 new listings: Pointe Santo #B23 2/2 $649.9K (our listing), Nutmeg Village #214 2/2 $899K, Shorewood #3 3/3 $1.849M.
No price changes.
2 new sales: Sanibel Moorings #241 1/1 listed for $309.9K (our buyer), Sedgemoor #101 3/3.5 listed for $2.349M.
4 closed sales: Ibis at The Sanctuary #A202 2/2 $357.5K, Ibis at The Sanctuary #A102 2/2 $381K, Sanibel Arms West #I1 2/2 $409K, Sand Pointe #137 2/2 $735K.

HOMES
4 new listings: 1327 Tahiti Dr 2/2 $424.9K, 366 Lake Murex Blvd 4/3 $749K, 395 Old Trail Rd 5/4 $1.1M, 1220 Morningside Place 5/5 multi-family $1.28M.
3 price changes: 1809 Bowmans Beach Rd 3/2 now $475K, 1625 Serenity Ln 3/2 now $489K, 4570 Bowen Bayou Rd 2/2 now $599K.
5 new sales: 9319 Kincaid Ct 3/2 listed for $525K, 1744 Bunting Ln 3/2 listed for $599K, 696 Durion Ct 3/2.5 listed for $635K, 657 Birdie View Pt 3/3 listed for $849K, 734 Pyrula Ave 3/2.5 listed for $875K.
8 closed sales: 1401 Sandpiper Cir 3/2.5 half-duplex $356.5K, 625 East Rocks Dr 3/2 $400K (our buyer), 5650 SanCap Rd 2/2 $480K, 1206 Par View Dr 3/2 $625K, 4518 Bowen Bayou Rd 4/4 $640K (our buyer), 1163 Seagrape Ln 4/4 $749.9K, 1433 Sanderling Cir 4/3 $750K, 804 Birdie View Pt 3/3 $1M.

LOTS
1 new listing: 864 Birdie View Pt $349.5K.
1 price change: 1503 San Carlos Bay Dr now $1.195M.
No new sales.
2 closed sales: 2418 Blue Crab Ct $115K, 9277/9283 Belding Dr $147.8K.

Captiva
CONDOS
No new listings or price changes.
1 new sale: Sunset Beach Villas #2328 2/2 listed for $599K.
1 closed sale: Marina Villas #903 2/2 $525K.

HOMES
No new listings.
2 price changes: 15160 Captiva Dr 6/6.5 now $1,999,999; 15166 Wiles Dr 3/2.5 now $2.995M.
2 new sales: 1102 Tallow Tree Ct 5/4 half-duplex listed for $3.3M, 17201 Captiva Dr 4/5.5 listed for $3.698M.
1 closed sale: 11517 Wightman Ln 4/3 $1.625M.

LOTS
1 new listing: 15164 Wiles Dr $795K.
No price changes, new or closed sales.

Happy Summer from SanibelSusan & The Sanibel Susan Team!

Sanibel & Captiva Islands Are Lushing Up Again Thanks To Andrea!

Posted on June 7, 2013 by SanibelSusan

It has been a rainy few days on Sanibel with off-and-on showers as Tropical Storm Andrea passed by Southwest Florida. Not very good beach days if you were lucky enough to be on the islands this week; but the parched lawns are greening up quickly – almost growing as one watches them! The rain finally abated today, but we are still waiting for blue skies again. Should happen by Sunday Her is one of SanibelSusan’s favorite island beach photos (by our pal, Jim Anderson of JMA Photography) to remind us of what it will look like!

Yesterday, only three new listings were on our Realtor® Caravan which is now on the biweekly summer schedule. Dave and Lisa checked those out for us and then held open houses trying to attract some of the island visitors looking for things to do on a soggy day. Elise’s report below covers the activity posted in the Sanibel Captiva Multiple Listing Service this week. Usually there is a downtrend in the number of sales this time of the year, but I’ve been working on an offer all week and Elise’s report shows I’m not the only one. All good progress in a recovering market. We hope it continues!

More on Flood Insurance

Even though I’ve mentioned this subject several times lately, here is more info on a topic that has been in the forefront recently with Realtors® working in waterfront areas. With the June 1 onset of Hurricane Season, the following article was in the Fort Myers “News Press” on Saturday.

“Starting in 2014, the Biggert-Waters Flood Insurance Reform Act of 2012 will phase out grandfathering practices for changes to Flood Insurance Rate Maps. Currently, some policyholders can keep their old flood insurance rates if changes to the Flood Insurance Rate Maps impact them negatively. According to a Federal Emergency Management Agency fact sheet, this practice will be phased out gradually.

“Some Southwest Florida property owners are going to see drastic increases in their flood insurance rates. A law passed by Congress in 2012 is working to phase out many of the nation’s subsidized flood insurance policies – which in Southwest Florida tend to be older houses in flood-prone coastal areas like Sanibel Island and Fort Myers Beach. The law’s goal, in part, is to make the National Flood Insurance Program financially stable and to have subsidized properties reflect their true flood risk.

“However, this law is especially troublesome for Southwest Florida residents who bought subsidized flood insurance policies after the law went into effect July 6. These policyholders will incur the full rate increase at once on October 1 when policies need to be renewed – despite many having purchased these policies before the Federal Emergency Management Agency began to understand the law’s impact. As of December 31, Lee County had 30,631 flood insurance policies affected by the 2012 legislation. Collier County had 17,224, according to a FEMA spreadsheet….

“According to a fact sheet from FEMA, the law known as Biggert-Waters Flood Insurance Reform Act of 2012 will affect subsidized properties first. Subsidized policies are on properties built before Flood Insurance Rate Maps were put in place, and different communities adopted these maps at different times. Sanibel, for example, adopted the maps in 1979 while Fort Myers Beach adopted them in 1984 when part of unincorporated Lee County.

“About 20% of flood policies nationwide receive subsidies. The immediate impact of the law is on vacation homes in areas defined by FEMA as having at least a 1% chance of flooding in any given year. These properties began seeing 25% annual increases on renewals following January 1. Likewise, properties with repeated or severe flooding and businesses located in flood zones will see 25% increases on renewals following October 1. These increases will continue until rates are high enough to cover the property’s risk.

“Primary residences won’t be hit as hard. These policyholders will continue to receive subsidized rates unless or until: the property is sold, the policy lapses, the property suffers severe or repeated flood loss, or a new policy is purchased. These policyholders may still see rate increases….”

5 Mistakes Foreign Buyers Make

“Florida Realtor®” June magazine had a good article about the mistakes foreign buyers often make when investing in U.S. real estate. Though most of our sellers are U.S. citizens, it has some good advice for those who are not. Here’s a synopsis:

“Mistake #1 – I don’t need to worry about estate taxes, I’m in good health – …The U.S. imposes an estate tax at a rate of up to 40% on the portion of a foreign individual’s gross estate (assets controlled by taxpayer) situated in the U.S. that exceeds $60K….” It is best to consult a tax attorney/certified public accountant.

“Mistake #2 – Believing that use of a foreign corporation will offer protection from U.S. estate tax – This may be true if it’s done correctly. In general, purchasing U.S. real property through a foreign corporation can shield a foreigner from the U.S. estate tax. The shares of a foreign corporation are considered non-U.S. situs property, which means the shares of the foreign corporation are considered as being situated outside the United States. As such, they are not subject to U.S. estate tax upon the foreigner’s death. However, for such corporate ownership to be respected for tax purposes, it is important that the foreign owner of the foreign corporation enter into a lease agreement with the foreign corporation any time that foreign owner uses the underlying real estate for personal purposes. Adequate rent for such personal use should be paid to the foreign corporation, which may have U.S. income tax consequences as well as require the filing of both a federal and a Florida corporate income tax return. Otherwise, the Internal Revenue Service could assert that the foreign corporation lacks substance and that the underlying U.S. real property is owned directly by the foreigner, thereby subjecting that U.S. property to estate taxation.”

“Mistake #3 – Deciding to use the same structure used by a friend – Buying U.S. real estate through a foreign corporation can potentially insulate a foreigner from U.S. estate tax if the sale is structured properly. However, this structure will result in significantly higher income tax when the foreigner sells the property. A foreign corporation’s capital gains from the sale of real estate is subject to combined U.S. federal and Florida corporate income tax rates totaling up to 38%. There is also the potential of an additional 30% U.S. branch profits tax, which is an extra income tax that the U.S. imposes on a foreign corporation’s earnings. On the other hand, capital gains earned by an individual or pass through entity, such as a limited liability company, are subject to capital gains tax of up to 20% in 2013. Accordingly, if a foreigner intends to invest in U.S. real estate and sell it for profit, a foreign corporation is clearly not a good ownership vehicle.”

“Mistake #4 – Transferring one’s U.S. real estate to someone else – A foreigner’s gift, sale or other transfer of U.S. real estate is generally subject to U.S. income tax under the Foreign Investment in Real Property Tax Act (FIRPTA). The federal government collects this income tax (or at least a portion of it) by requiring the recipient (e.g. the buyer) of the U.S. real estate to withhold 10% of its gross proceeds or fair market value…Further, in 2013 the federal government imposed a gift tax on the transfer of U.S. real estate to the extent that the gift exceeds $14K (or $143K if the gift is made to a spouse)…Finally, Florida imposes a documentary stamp tax on the sale of real estate in Florida and certain other transfers to the extent that the real estate is mortgaged….”

“Mistake #5 – Thinking “I am fine as long as I don’t stay in the U.S. for more than six months in a year” – Many foreigners believe that they can be physically present in the U.S. up to six months each year without becoming a U.S. tax resident for income tax purposes. However, this is technically incorrect. A foreigner is deemed to be a U.S. resident for income tax purposes if the average number of days spent in the U.S. over a 3-year period equals or exceeds 183 per year. Under this “substantial presence” test, a foreigner will generally become a tax resident if he or she is physically present in the U.S. for more than 120 days per year….”

Again, early planning whether buying or selling, including consulting a U.S. tax professional who specializes in international taxation is best!

Sanibel & Captiva Islands Multiple Listing Service Activity May 31 – June 7

Sanibel
CONDOS
3 new listings: Duggers Tropical Cottages #2 1/1 $249K, Cottage Colony West #103 1/1 $538.9K, Heron at The Sanctuary II #2-A 3/2.5 $609K.
4 price changes: Sundial #G401 2/2 now $459K, Tarpon Beach #206 2/2 $667K, Sayana #103 2/2 now $769K, Seascape #104 3/3 now $2.495M.
5 new sales: Sanibel Arms West #M3 2/2 listed for $395K, Sanibel Arms West #M2 2/2 listed for $395.9K, Sanibel Arms #A1 2/2 listed for $420K, Sanibel Arms West #H2 2/2 listed for $469K, Pointe Santo #A22 2/2 listed for $759K.
8 closed sales: Captains Walk #D5 2/1 $195K, Lake Palms #7 2/2.5 $229K, Sundial #F307 1/1 $274K, Loggerhead Cay #432 2/2 $415K, Sundial #J107 2/2 $445K, Loggerhead Cay #583 2/2 $510K, Heron at The Sanctuary III #1B 3/2.5 $550K, Sanctuary Golf Villages I #5-2 3/3 $535K.

HOMES
2 new listings: 1549 Wilton Ln 3/3 $499K, 236 Hurricane Ln 3/3 $555K.
5 price changes: 1021 Sand Castle Rd 2/2 now $409K (short sale), 1667 Sabal Sands Rd 3/3 now $450K, 1364 Jamaica Dr 2/2 now $499K, 5423 Osprey Ct 3/2.5 now $1.595M, 4717 Rue Belle Mer 3/3 now $2.45M (short sale).
4 new sales: 2560 Coconut Dr listed for $495K, 9319 Kincaid Ct 3/2 listed for $525K, 1316 Eagle Run Dr 4/3 listed for $899K, 1550 Angel Dr 3/2.5 listed for $995K.
5 closed sales: 531 Birdsong Place 2/2 $300K, 9484 Peaceful Dr 3/3.5 $565K, 1511 Angel Dr 2/2 $590K, 4207 Gulf Pines Dr 4/4.5 $870K, 4949 Joewood Dr 5/5 $2.3M.

LOTS
No new listings or price changes.
1 new sale: 1503 San Carlos Bay Dr listed for $1.295M.
No closed sales.

Captiva
CONDOS
1 new listing: Marina Villas #710 2/2 $559K.
3 price changes: Tennis Villas #3110 1/1 now $225K, Bayside Villas #5208 1/2 now $255K, Lands End Village #1665 2/2 now $1.225M.
No new sales.
1 closed sale: Beach Villas #2534 3/3 $738K.

HOMES
1 new listing: 14980 Binder Dr 3/3 $1.465M.
1 price change: 15631 Captiva Dr 5/4.5 now $2.175M.
No new or closed sales.

LOTS
Nothing to report.

Happy Weekend, Bring on the Sun!

Gulf of Mexico beach in front of Loggerhead Cay condominiums on Sanibel Island, pix by Jim Anderson, JMA Photography

Sanibel Scoop & Captiva Chatter

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

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Sanibel & Captiva Islands Are Lushing Up Again Thanks To Andrea!

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