It’s a Summer-Like Sanibel February


12-28-15 Scott 7 White pelicanIt’s SanibelSusan reporting that all’s well on another sunny Sanibel Friday. I won’t mention the traffic which is worse than I ever remember it pre-weekend. It’s been a constant stream of cars tying up Periwinkle, coming onto the island until midday, when it changes to heavy traffic in both directions. From mid-afternoon on, as usual there is extra traffic heading off-island. Last night it cleared up by 6:30 p.m.

So, we grit our teeth, plan our days differently, don’t turn right, and remember that we are sharing fabulous weather with extra snowbirds and vacationers. It makes it a challenge when we are driving with prospective buyers. Those new to the island have a hard time believing that it’s like this for just a few weeks each year.

They sure love the weather though. It really has been amazing for February – bright blue skies with a few occasional clouds, daytime temperatures ranging from the low 80’s into the 90’s (record setting numbers), and sparkling water surrounding the island.

Beach

At SanibelSusan Realty Associates

SanibelSusan Realty from Periwinkle WayWe had good action with our listing this week, with several more showings scheduled tomorrow during turn-over in some of the vacation rentals. With the big annual Arts and Crafts Fair across the street from the office both tomorrow and Sunday, we hope for some walk-in business.

If you have a three-day weekend, we hope you enjoy it. If you are here, we hope you drop in.

Sanibel & Captiva Islands Association of Realtors®

Sanibel realtors logoMonthly Membership Meeting – Yesterday was the February monthly Membership Breakfast Meeting and Caravan for the local Association of Realtors®. Guest speaker was Julie LePore with FIRPTA Solutions, Inc. FIRPTA is the Foreign Investment in Real Property Tax Act of 1980 and it covers the disposition of U.S. real property interest by a foreign person. I’ve covered it in my updates before, but she mentioned a couple of points many Sellers don’t realize.

firpta_solutions_logo_full-color_horizontalFIRPTA – If you are selling real estate in the U.S. and are NOT a foreign Seller, there still is a form required by FIRPTA. These Sellers must sign a Certificate of Non-Foreign Status which indicates that FIRPTA withholding is not required. So, don’t be surprised if the title company handling your closing asks you to sign a form that includes your social security number or tax identification number.

Alternatively, in the case where the Seller is foreign, more questions apply. If the Buyer does not have definite plans to reside at the property at least 50% of the time that the property is in use, the Buyer is required to withhold 15% of the sale proceeds. Yes, that is a requirement of the Buyer. Usually Buyers don’t know this. Here, the title company handles this withholding. If the Buyer will reside the property being purchased, depending on the price, there could be change in the amount needing to be withheld. Best to consult with an expert if you are a Buyer and the Seller is foreign. FIRPTA Solution is a good resource at www.firptasolutions.com.

Caravan Announcements – We weren’t lucky enough to get another sale this week, but plenty were announced at the Caravan meeting. One colleague who just listed a $2+M property announced that it went under contract in hours for full-price, cash, quick close. Just an example of what can happen in a situation where a buyer is waiting for an property in a specific location or of a certain size or condition.

What’s Happening With the Sanibel Real Estate Market?

sancap GO MLS logoUsing info from the Sanibel and Captiva Islands Multiple Listing Service as described in the disclosure below, here are some summaries.

Number of Sanibel Price Reductions in last 30 days:  105 (71 homes, 7 lots, 28 condos)

Considering that there are just 362 Sanibel properties for sale, that’s a lot of price reductions.

How Many Properties Are Selling Compared to the Competition?

  # Available # Sold/Closed 2018 # Under Contract
SANIBEL CONDOS
Income-Producing 75 4 8
With 3 Bedrooms 12 4 5
Under $500K 23 3 13
Over $1M 21 5 4
SANIBEL HOMES
Canal-front 39 4 8
Near-beach 87 16 15
Gulf-front 12 5 3
Under $500K 9 5 2
Over $1M 91 18 19

No Rate Increase for 8th Year in a Row

Lcec logoLCEC (Lee County Electric Coop) posted this info in their February “LCEC News”. With most prices increasing, it’s great to hear that LCEC’s electric rates have remained the same. “Rates actually have decreased over the past four years…Even after spending more than $30 million on Hurricane Irma restoration, rates will remain the same for 2018. As a cooperative, LCEC is eligible for partial FEMA reimbursement for disaster recovery….”

Upcoming Events

  • rotary logoSanibel-Captiva Rotary Club’s 35th Art & Craft Fair – with over 100 artists & food court – tomorrow & Sunday, Feb 17 & 18 at The Community House and Sanibel City Park across the street from SanibelSusan Realty Associations. Open from 10 a.m. to 5 p.m. on Saturday, 9 a.m. to 4 p.m. on Sunday.
  • kiwanis logoAnnual Kiwanis Spaghetti Dinner – an island favorite for nearly 40 years, Saturday Feb 24 from 4 to 8 p.m. at The Community House. Funds raised go to island youth education and recreation activities including scholarships. (If you are on-island and need a ticket, give me a call, I know who delivers… just got my ticket today.)
  • zonta logoAnnual Peek at the Unique – annual fundraiser tours of four unique island residences, hosted by The Zonta Club of Sanibel-Captiva on Saturday Mar 10 from 9 a.m. to 3 p.m. Transportation by air-conditioned buses. Tickets required. More info at zontasancap.com, tickets at Eventbrite or www.zontasancap.com/events/peek
  • SCCF’s 7th Annual Beer in the Bushes – Saturday Mar 31 from 6 to 10 p.m. on the grounds of SCCF’s (Sanibel-Captiva Conservation Foundation) Nature Center. Attendees are encouraged to dress in “soul train” attire of the 70’s. Purchase tickets at http://www.sccfbeer.eventbrite.com

Sanibel & Captiva Islands Multiple Listing Service Activity February 9-16, 2018

Sanibel

CONDOS

7 new listings: Sanibel Moorings #212 1/1 $425K, Sanibel Moorings #141 1/1 $475K, Kings Crown #312 2/2 $799K, White Sands #13 2/2 $949K, Sundial West #E104 2/2 $995K, Blue Gulf #101 3/2 $1.42M, High Tide #B102 2/2 $1.795M.

2 price changes: Beach Road Villa #104 2/2 now $455K, Sundial West #F201 2/2 now $799K.

8 new sales: Tennisplace #D21 1/1 listed at $239.8K, Captains Walk #D5 2/1 listed at $299.5K, Seashells #40 2/2 listed at $349.9K, Sundial West #J307 2/2 listed at $759K, Sundial West #F201 2/2 listed at $799K, Nutmeg Village #201 2/2 listed at $999K, Pine Cove #102 3/2 listed at $1.25M, Seascape #202 3/3.5 listed at $2.195M.

3 closed sales: Colonnades #C3 1/1 $225K; Lighthouse Point #220 2/2 $435K; White Sands #32 2/2.5 $978,625.

HOMES

8 new listings: 9408 Moonlight Dr 3/2 $599K, 1806 Ibis Ln 3/2 $679K, 5885 Pine Tree Dr 3/2 $699K, 617 Lake Murex Cir 3/2 $839K, 9027 Mockingbird Dr 4/3 $869K, 2629 Coconut Dr 2/3 $1.198M, 735 Sand Dollar Dr 3/3 $1.339M, 519 Kinzie Island Ct 2/2.5 $1.35M.

21 price changes: 6143 Henderson Rd 4/3 now $444.9K, 1040 Sand Castle Rd 3/2 now $549K, 958 Sand Castle Rd 3/2 now $619K, 474 Lake Murex Cir 3/2 now $679.9K, 749 Cardium St 3/2 now $749K, 5430 Osprey Ct 3/3 now $774K, 5410 Osprey Ct 3/2.5 now $799K, 9446 Beverly Ln 3/3.5 now $819K, 924 Beach Rd 3/2 now $895K, 3239 Twin Lakes Ln 3/2 now $899K, 2480 Library Way 3/2.5 now $899K, 1265 Par View Dr 3/2.5 now $899K, 3941 Coquina Dr 3/2 now $979K, 5402 Osprey Ct 4/3 now $995K, 1426 Causey Ct 3/2.5 now $1.195M, 805 Sand Dollar Dr 4/3 now $1.295M, 1995 My Tern Ct 4/2 now $1.349M, 4992 Joewood Dr 3/3.5 now $1.465M, 1525 Sand Carlos Bay Dr 3/2 now $1.575M, 514 Kinzie Island Ct 4/5 now $1.895M, 4166 Dingman Dr 4/4 now $2.599M.

8 new sales: 667 Spartina Ct 3/2 listed at $619,555; 563 Hideaway Ct 3/2 listed at $699K, 3980 Coquina Dr 3/2 listed at $799K; 5657 Sanibel-Captiva Rd 3/2 listed at $895K, 925 Lindgren Blvd 3/2 listed at $995K; 1152 Buttonwood Ln 3/3.5 listed at $1.379M; 1271 Isabel Dr 4/4.5 listed at $3.299M, 1077 Bird Ln 4/4/2 listed at $5.995M.

6 closed sales: 9292 Kincaid Ct 3/2 $480K, 1613 Sand Castle 3/2.5 half-duplex $499K, 1717 Sand Pebble Way 3/2 $610K, 900 Almas Ct 3/3.5 $1.015M, 1313 Eagle Run Dr 3/3 $1.35M, 3945 West Gulf Dr 3/3 $3M.

LOTS

No new listings.

2 price changes: 412 Tiree Cir now $329,555; 2401 Blue Crab Ct now $679K.

No new sales:

1 closed sale: 2626 Coconut Dr $329K.

Captiva

CONDOS

1 new listing: Bayside Villas #5144 1 /2 $385K.

1 price change: Beach Homes #25 3/2 now $2.095M.

No new sales or closed sales.

HOMES

No new listings or price changes.

1 new sale: 11531 Paige Ct 4/3.5 listed at $3.45M.

No closed sales.

LOTS

Nothing to report.

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

Enjoy your weekend & Presidents Day!presidents day clip art

Susan Andrews, aka SanibelSusan

Island-Style Valentine Sights


 

Manatee mailboxDolphin mailboxboth mailboxesIt’s SanibelSusan, reporting another fine Friday here. This one, wrapping up a week of fantastic Florida winter weather. After expecting temperatures to be in only the low 70’s, locals and visitors have been “out and about” happily enjoying sunny days, with temperatures almost setting records – into the low 80’s.valentine

Early this afternoon, my car registered 82 degrees as I drove down Periwinkle Way. On my return, because of the traffic, I elected to go “the back way” and saw a sight that made me smile. Near one of the bends just off East Gulf Drive are two mailboxes across the street from each other with those big concrete-looking bases – one is a manatee and the other a dolphin. Here they are in their adorable Valentine’s garb. These island neighbors sure have the holiday spirit.

With Southwest Florida so nice and the news reporting ice, snow, sub-zero temperatures, and pile-ups in the northern states, I have been hit up several times this week with folks looking for help in finding last minute island accommodations. (Some are even having trouble looking for February and March next winter!) Very little is available for long-term stays, so we are trying hard to convince some of those folks to buy. We’ve got some listings with excellent income that could help pay the way when you aren’t using the property yourself.

The action posted in the Sanibel & Captiva Islands Multiple Listing Service since last Friday follows a couple of news items below.

NFIP Extended For Six Weeks – to March 23

Posted today by “Florida Realtors®” on line:NationalFloodInsuranceProgr

“As part of the just-passed continuing resolution to keep the government open, the National Flood Insurance Program now won’t expire until March 23, 2018.

“While the legislation only extends government operations for six weeks – including NFIP – Congress agreed to some long-term changes, including $90 billion in assistance for post-hurricane cleanup in Florida, Texas and Puerto Rico.

“While the national flood insurance program isn’t a direct part of federal funding, its future has been tied to it recently because the flood insurance extension has been voted on alongside the larger spending packages.

“For at least the next six weeks, however, homebuyers and sellers in flood zones can stop worrying about the loss of flood insurance derailing their transaction.”

What’s Happening at Island Inn

island inn matthews suitesIf you’ve recently driven down West Gulf Drive, you may have noticed the construction at Island Inn. The historic Island Inn, the oldest hotel on Sanibel (established in 1895) began their latest multi-million-dollar investment last year when construction began to replace the Matthews Lodge, a 12-unit concrete-block building built in 1961. This week, they announced the opening of the new Matthews Lodge Luxury Suites (their photo above) which are 12 new 600 sq. ft. accommodations. Benchmark General Contractors was the builder. For more info on the Island Inn, Traditions on the Beach, or the new gulf-view luxury suites, visit www.islandinn.com.

Upcoming Events

  • 16th Sanibel-Captiva Art League “Clothesline Sale”, Sunday, Feb 11 from 9 a.m. to 3 p.m. at The Community House, with ~30 artists participating. Some of these artists also feature their work at monthly events just outside Bailey’s General Store. Called “Art on the Veranda”, they will be there tomorrow, Feb 10 from 10 a.m. to 3 p.m.
  • Livingston Taylor – at South Seas Resort, Sunday, Feb 18 from 8 to 10 p.m. Doors open at 7. Tickets at www.livingstontaylorsouthseas.eventbrite.com.
  • 25th Annual Children’s Education Center of the Islands “Spring Festival” – Thinking ahead, if you have children or grands coming to town for Easter you might want to put this event on your calendar: Saturday, Mar 31 from 9 to 11 a.m. at Sanibel Community Park (next to The Community House).

How Fast Can Home Prices Rise?

In last week’s update from the recent economic analysis presentation at Florida Realtors’® Governance Meetings, it recounted how Lee county is one of the few areas in the state where the supply of residential real estate is greater than demand. An article posted yesterday on FloridaRealtors.org further describes what is happening to home prices throughout the rest of the U.S., with some cities breaking price records.

attom data solutions logoStrong demand and low inventories fueled home prices to record highs in 2017. The median home price in the U.S. reached $235,000, up 8.3% from 2016, according to real estate data firm ATTOM Data Solutions.

“Still, annual price appreciation showed signs of slowing; in 2016, the national median home price jumped 8.5% year over year, according to ATTOM’s latest housing report.

“Sixty-four of 112 metros (57%) set a new record for metro-level home prices in 2017, including Los Angeles, Dallas, Houston, Atlanta, and San Francisco. Among 112 metros, each with populations of 200,000 or more, the cities with the biggest year-over-year price increases were Ocala, Fla. (up 14.3%); Kansas City, Mo. (13.4%); San Jose, Calif. (13.3%); Salem, Ore. (12.9%); and Nashville, Tenn. (12.5%).

“Among major metro areas with populations of at least 1 million, the cities that posted double-digit gains included Las Vegas (up 12.3%); Salt Lake City (10.9%); Seattle (10.8%); Orlando, Fla. (10.7%); Tampa-St. Petersburg, Fla. (10.7%); Portland, Ore. (10.5%); and Jacksonville, Fla. (10.1%).

“Miami-Fort Lauderdale-West Palm Beach also ranked in the 1-million-plus category, with the area’s 2017 price rise at 8.9%.”

© Copyright 2018 INFORMATION INC., Bethesda, MD (301) 215-4688

Webcam Back Up At “Ding” Darling

Paul collins roseate 04-13-14

As reported in the “Ding” Darling Wildlife Society Newsletter dated February 8, 2018.

“Our live Refuge Webcam, which was damaged by Hurricane Irma, is back up and running better than ever. The solar-powered camera broadcasts live scenes from the Wildlife Drive observation tower during daylight hours. So, now when you need your Refuge “fix,” just head to our home page and click on the live cam. It’s the next best thing to being here in person.”

Right to Inspect: The Devil is in the Details

Florida Realtors logoThough written to help Realtors®, the below article posted on Florida Realtors® this week by their COO and General Counsel (& fellow New Englander), Margy Grant, has good info for buyers and sellers too.

“Feb. 5, 2018 – One of the most common clauses buyers utilize when submitting an offer to purchase real estate is the “right to inspect.” Based on the number of calls to the Florida Realtors Legal Hotline, this also is one of the most misunderstood clauses – and one that could have serious consequences for buyers and sellers if it is not interpreted and enforced correctly.

“In the “As Is” Residential Contract for Sale and Purchase approved by Florida Realtors® and The Florida Bar – the purchase contract most commonly used by members – the right to inspect clause contains the language “in the Buyer’s sole discretion.” This phrase is intended to mean that a buyer may cancel the purchase contract at any time during the inspection period for any reason. Occasionally, Realtors confuse this language. They interpret it to mean a buyer is required to discover a defect in the property or structure and only then is entitled to cancel. This is incorrect.

“A buyer may terminate the contract by delivering written notice to the seller for any reason, even something as minor as the color of paint in a bedroom. However, to be binding, the notification has to be made prior to the expiration of the inspection period.

“Another issue that is often misunderstood is the process for renegotiating a contract before enacting the right to terminate.

“Let’s say you are representing buyers who have signed a contract to purchase a home. An inspection has revealed the roof is aged and leaking in one section. Your buyers still want to buy the house; however, they want the seller to either fix the roof or reduce the purchase price to reflect the repair amount. Otherwise, they will have to cancel.

“Simply contacting the listing broker to communicate the problem does not constitute a cancellation under this section of the contract. If a buyer wishes to renegotiate then you, as the buyer’s Realtor, need to provide specific information to the listing broker. Explain exactly what the buyers want and explicitly say that if the seller refuses, then the buyers intend to cancel under the inspection clause of the contract.

If you fail to accurately explain what the buyers want as a remedy, and the seller does not respond before the time to inspect the property lapses, your buyers may be in jeopardy of losing their deposit.

“How do you as a Realtor protect yourself from situations like this? Simple: Communicate and watch the calendar. In writing, explicitly explain to the listing broker what your buyers want from the seller. At the same time, make sure your buyers do not miss the deadline to cancel the agreement if the parties cannot agree on repairs or a reduction in purchase price. Remember: The “As Is” form contract is calculated on calendar days, not business days.

“Real estate contracts vary in terms of when a buyer or seller can amend or cancel. You should carefully review each contract’s right to inspect clause. In the event there is confusion about which day is the final date to cancel, you should contact the other side and make sure everyone is in agreement. But when in doubt, err on the side of the earlier date to protect yourself and your buyer.

“In most transactions, a buyer wants to buy and a seller wants to sell, so approach all negotiations positively and work toward a sale. But, at the same time, take precautions to make sure you do not inadvertently put the buyer’s deposit at risk.”

Sanibel & Captiva Islands Multiple Listing Service Activity February 2-9, 2018sancap GO MLS logo

Sanibel

CONDOS

1 new listing: Blind Pass #E207 2/2.5 $429K.

4 price changes: Mariner Pointe #1061 2/2 now $574.9K (our listing), Cottage Colony West #101 1/1 now $630K, High Tide #C101 2/2 now $899K, Plantation Village #312 3/2.5 now $1.69M.

5 new sales: Tennisplace #E33 2/1 listed at $320K, Sundial West #F308 1/1 listed at $439K, Loggerhead Cay #402 2/2 listed at $580K, Sandpiper Beach #302 2/2 listed at $850K, By-The-Sea #B202 2/2 listed at $1.249M.

No closed sales.

HOMES

6 new listings: 962 Sand Castle Rd 3/2 $639K, 9225 Belding Dr 3/2 $650K, 753 Cardium St 3/2 $679K, 610 Hideaway Ct 3/2.5 $689K, 1582 Sand Castle Rd 3/2 $699K, 2969 Wulfert Rd 6/6/2 $1.995M.

15 price changes: 813 Rabbit Rd 2/2 now $439K, 1717 Atlanta Plaza Dr 2/2 now $460K, 6143 Henderson Rd 4/3 now $468.5K, 3043 Poinciana Cir 4/2 now $549K, 5280 Umbrella Pool Rd 3/3 now $675K, 1342 Junonia St 3/3 now $679K, 1450 Sand Castle Rd 3/2 now $769K, 1245 Anhinga Ln 3/2 now $829K, 9028 Mockingbird Dr 4/3 now $879K, 1114 Captains Walk St 3/3 now $899K, 940 Spoonbill Ct 3/2.5 now $1.095M, 6123 Starling Way 3/2.5 now $1.174M, 500 Periwinkle Way 3/3 now $1.195M, 2689 Wulfert Rd 4/6.5 now $1.994M, 3615 West Gulf Dr 3/2 now $3.1M.

5 new sales: 9446 Yucca Ct 3/2 listed at $545K, 3323 Twin Lakes Ln 3/3 listed at $787K, 3010 West Gulf Dr 3/2 listed at $799K, 2939 Wulfert Rd 5/5/2 listed at $1.349M, 747 Windlass Way 4/3.5 listed at $2.295M.

4 closed sales: 915 Palm St 3/2 $445K, 1807 Buckthorn Ln 3/2.5 $615K, 1314 Par View Dr 3/2 $750K, 1255 Isabel Dr 3/3 $1.615M.

LOTS

1 new listing: 976 Whelk Dr $699K.

3 price changes: 4566 Buck Key Rd now $159K, 1550 Centre St now $205K, 1800 Woodring Rd now $2.695M.

2 new sales: 2626 Coconut Dr listed at $379K, 4767 Tradewinds Dr listed at $1.75M.

No closed sales.

Captiva

CONDOS

2 new listings: Beach Villas #2625 2/2 $645K, Lands End Village #1608 3/3 $2.595M.

No price changes or new sales.

1 closed sale: Lands End Village #1657 2/2 $1.06M.

HOMES

1 new listing: 17030 Captiva Dr 6/7.5 $10M.

1 price change: 11531 Paige Ct 4/3.5 now $3.45M.

1 new sale: 11521 Andy Rosse Ln 7/8 listed at $2.799M.

No closed sales.

LOTS

Nothing to report.

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

valentineHere’s hoping that you and your Valentines have a great week!

Until next Friday, Susan Andrews aka SanibelSusan

SanibelSusan’s Groundhog Says, “Sunny Warm Weather Is Here To Stay”


ground hot

 

SanibelSusan here, reporting another busy week on the islands. A few breezy days with a bit of a Florida chill made for increased traffic on both the roads and bike paths earlier in the week, with the last mildly chilly morning today.

For at least the next week, it is expected to be good weather, with temperatures in the low to mid-70’s every day.

Gotta love SW Florida in February!

Sanibel Susan Realty Associates

Sanibelsusan LogoHere in the office, some of our listings had price adjustments. Not unusual for February and we were not the only ones as evidenced by the Sanibel & Captiva Islands Multiple Listing Service activity, which follows a few news items below. Yesterday at our local Association of Realtors® Caravan Meeting, I announced six price changes. With Easter April 1 this year, there are just eight weeks of “high” season remaining, so price changes now should have impact. He got giggles at Caravan when a long-time island Realtor® announced that he was happy to see so many reductions now, rather than April (which often is too late – or after snowbirds have departed).

Florida Homestead Exemption

LeePALogoIf you are a new island resident or had a change of local residence last year and want to apply for Florida’s Homestead Exemption, this is a reminder that the official filing period is January 1 to March 1. Florida law requires that application be made by March 1 to be eligible for up to $50,000 Homestead Exemption. Only new applicants or those who had a change of residence need apply. Automatic renewals are mailed in January each year.

Homestead Exemption is a constitutional benefit of up to a $50,000 exemption removed from the assessed value of your property. It is granted to those applicants who possess title to real property and are bona fide Florida residents living in the dwelling and making it their permanent home on January 1. Documentation that proves you were a resident at the homestead property is required.

Properties granted homestead exemption automatically receive the “Save Our Homes” benefit. This is a constitutional benefit approved by Florida voters in 1992. It places a limitation of 3% on annual assessment increase homestead properties beginning with the 1995 tax year. So, the assessed value will not increase more than 3% or the Consumer Price Index, whichever is less. When a homestead property sells, the assessed value returns to fair market value in the year following the sale. The value assessment then becomes the new owner/homestead applicant’s base value for “Save Our Homes” purposes.

To be eligible to receive the homestead exemption you must own the property (have legal title/interest) and permanently reside on/occupy the property. You must be able to document that you resided at your homestead property as of January 1 by providing proof of issuance of a Florida driver’s license and Lee County voter registration card. Non-voters must complete a Declaration of Domicile. You may file for homestead exemption by mail, in person, or on-line at www.leepa.org.

2018 Florida Real Estate Trends

EconomicSummit01-26-2018As follow-up to my article last week about presentations at Florida REALTORS® Governance Meetings in Orlando, particularly the session on 2018 Florida Real Estate Trends, here is some additional info:

Self-Driving Cars & Real Estate

During the segment by Kevin Foreman who leads INDRIX Big Data and is the General Manager of GeoAnalytics, he discussed how self-driving cars will impact real estate, noting that there are currently about 7,000 on the roads, with that figure expected to reach 4.5 million by 2035. There are four trends in self-driving cars: autonomous (Tesla, Uber, Google and others are working on those); also shared cars; electric cars; and connected cars. There also are five levels of autonomy in vehicles: level 1 includes hands-on, level 2 is hands-off, level 3 is eyes-off, level 4 is mind-off, and level 5 has no wheel.

As autonomous driving evolves, he said that people will become more productive going to work, and will be able to do many more things during their commute – i.e., like getting ready for work and the workday- shaving, eating, emailing, etc.

He also said that we soon will be measuring distances completely differently. Rather than miles or kilometers, it will be in minutes or based on time.

He said traffic signals and milepost signs will be gone in 30 years. With self-driving cars, he said plenty of other things will change too, and not just in the real estate. As examples, he said there will be:

  • No more drivers’ licenses – the blind, elderly, & kids can drive
  • No more speeding tickets
  • No more drunk driving
  • No distracted driving – more texting, sleeping, even sexting
  • Two-handed eating – making changes to the fast-food & restaurant business.

These new modes of transportation will affect real estate business because there will be:

  • Longer “drive” times – since people can eat, sleep, and work during their commutes
  • Less office infrastructure
  • More agent productivity.

To be a hit with your kids, Foreman suggested renting a Tesla for a day or taking one for a test drive. He also said when the time comes, do not buy a self-driving car. Instead, lease one, because improvement and technology changes will be fast.

Florida’s Real Estate Market

During a presentation by Florida REALTORS® Chief Economist Brad O’Connor, he compared what happened in real estate after the state’s first major hurricane in ten years (i.e., last fall after Hurricane Irma (on Sep 10) to what happened after Hurricane Charley and the storms that followed.

To analyze Irma’s possible market impact, he had Florida REALTORS® Research Department review residential sales data from 2004 and 2005 (when Hurricanes Charley, Frances, Jeanne, Ivan, Dennis, and Wilma affected Florida) as well as claims data from the Florida Office of Insurance Regulation.

O’Connor said, “Long-term market impacts from landfalling hurricanes are rare and highly localized, with long-term sales declines observed only in coastal areas where a significant percentage of structures were severely damaged by Category 4-plus winds.” “Short-term market impacts from a hurricane are more common and widespread,” he added. “Sales in areas where most homes did not experience severe structural damage rebounded within a month or two of landfall,” he said. “These temporary slowdowns were due to business activity halting ahead of the storm and power outages, regulations and additional required inspections afterwards.”

Interestingly, he also said that “Sale prices don’t seem to care much about hurricanes. Plenty of buyers are happy to line up to buy the real estate as long as it’s not completely annihilated.”

Summarizing 2017 housing market activity, O’Connor said single-family existing home sales in Florida were up 1.2% over 2016’s sales level – and would have been up by about 3% if there had been no Hurricane Irma. 2017 sales of existing condos/townhouses were up about 3% year-over-year; and would likely have been about 6% higher than 2016 without Irma. The statewide median price in both sectors was up about 8% compared to a year ago.

In his slides comparing insurance claims, residential inventory and sales by county, Lee County was one of the few areas in Florida where inventory remains higher than demand. In fact, throughout the state, inventory is down everywhere, except in Southwest Florida. Those other counties are experiencing sellers’ markets. Here, until that changes, we probably won’t see the tide turn from it being a buyer’s market.

I head much of the same during committee meetings where colleagues described multiple offers being the norm in their area. Some described initial offers on moderately priced properties coming in at least $25,000 over asking price, just so they get consideration. I don’t ever remember that happening here and from the amount of inventory on Sanibel, it won’t be happening any time soon. See the table below for a summary of the islands’ inventory today and recent sales.

Sanibel & Captiva Islands Inventory as of 2/2/2018

sancap GO MLS logoOn Sanibel:

For sale: 102 condos, 200 homes, & 64 lots = 366 available

Under contract: 14 condos, 40 homes, 3 lots = 57 awaiting closing

Closed year-to-date: 9 condos, 35 homes, 1 lot = 45 sold

Sold in 2017: 140 condos, 186 homes, 32 lots = 358 sold

On Captiva:

For sale: 26 condos, 45 homes, & 3 lots = 74 available

Under contract: 6 condos, 4 homes, no lots = 10 awaiting closing

Closed year-to-date: 6 condos, 3 homes, no lot = 9 sold

Sold in 2017: 34 condos, 22 homes, 2 lots = 58 sold

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

Change in Cost of Equity Membership at The Sanctuary

sanctuary golf club logoIn the latest issue of The Sanctuary Golf Club’s “Sanctuary Sound”, Membership Director, Sheryl Tatum, announced that on May 1, 2018, the Equity Membership at the Club will increase from $110,000 to $120,000.

The privileges with equity membership include access to all Club facilities, a par 72, Championship Arthur Hills-designed golf course, driving range, putting green, chipping area, golf lessons, priority tee times and tournament play, a 50,000 sq.ft. clubhouse, world-class dining, five Har Tru tennis courts, 5,000 sq.ft. Health & Tennis Center with a sports pool. To reach Sherry directly for more information, call 239-322-5182 or email her at STatum@sanctuarygc.net.

The New Jac

Some have asked if we know what is happening at the former Jacaranda Restaurant which has been closed for a couple of months. I saw the below Facebook message yesterday advertising an upcoming event at The Community House.

The Jac

More Upcoming Events

Center4 Life Arts & Crafts Fair – tomorrow, Sat, 2/3 from 9 a.m. to 2 p.m. with more than 30 local vendors at 2401 Library Way.

chr-logo_mainCommunity Houses & Resources (CHR) Sanibel’s Annual Mardi Gras Fundraiser – next Sat, 2/10 at The Community House. Tickets available at Bailey’s General Store, on-line at www.sanibelchr.org/mardigras or call CHR at 239-472-1189.

Let’s Get Historical – Sanibel Historical Village Gala – Mon, 2/19 from 6 to 10 p.m. at The Community House. Request tickets at 239-472-4648 or info@sanibelmuseum.org

Sanibel & Captiva Islands Multiple Listing Service Activity January 26 to February 2, 2018

Sanibel

CONDOS

1 new listing: Cottage Colony West #125 1/1 $629K.

6 price changes: Tennisplace #D21 1/1 now $239.8K, Loggerhead Cay #332 2/2 now $474.5K, Mariner Pointe #1061 2/2 now $579.9K (our listing), Cottage Colony West #116 1/1 now $645K, Sandy Bend #4 2/2 now $758K, Tanglewood #1A 3/2 now $1.099M.

View c

View from Mariner Pointe #1061

 

3 new sales: Lake Palms #6 2/2.5 listed at $349K, Lighthouse Point #220 2/2 listed at $450K, Lighthouse Point #217 3/2 listed at $465K.

1 closed sale: Donax Village #3 2/2 $414K.

HOMES

6 new listings: 972 Fitzhugh St 3/2 $469K, 1625 Sand Castle Rd 3/3 half-duplex $619K, 3980 Coquina Dr 3/2 $799K, 1275 Par View Dr 3/2 $949K, 460 East Gulf Dr 2/2.4 $1.995M, 747 Windlass Way 4/3.5 $2.295M.

18 price changes: 1938 Roseate Ln 3/2 now $519K, 9477 Peaceful Dr 3/2 now $535K, 9446 Beverly Ln 3/3.5 now $873.5K, 3239 Twin Lakes Ln 3/2 now $939K, 734 Anchor Dr 3/2 now $949K (our listing), 239 Daniel Dr 3/2 now $1.028M (our listing), 1035 S Yachtsman Dr 5/4.5 now $1.099M, 5411 Osprey Ct 3/2 now $1.199M, 1672 Hibiscus Dr 3/2 now $1.199M, 1304 Eagle Run Dr 3/3 now $1.225M, 6101 Starling Way 3/3.5 now $1.249M, 2474 Wulfert Rd 3/3/2 now $1.295M, 534 N Yachtsman Dr 3/2 now $1.345M, 1152 Buttonwood Ln 3/3.5 now $1.599M, 1525 San Carlos Bay Dr 3/2 now $1.599M, 794 Conch Ct 3/2.5 now $1.849M, 924 Pecten Ct 4/4 now $1.895M, 2689 Wulfert Rd 4/6.5 now $1.994M.

DCIM100MEDIADJI_0483.JPG

734 Anchor Drive, near-beach & canal-front with dock

 

DCIM100MEDIADJI_0023.JPG

239 Daniel Drive near-beach & backing to conservation land, community amenities too.

 

6 new sales: 3008 Singing Wind Dr 2/2 listed at $439K, 2005 Mitzi Ln 2/2 listed at $543.5K, 1425 Causey Ct 4/3 listed at $729K, 1470 Angel Dr 3/2 listed at $920K, 3822 West Gulf Dr 3/2 listed at $1.199M, 5757 Baltusrol Ct 3/3 listed at $1.497M.

9 closed sales: 1394 Middle Gulf Dr #C 3/3 half-dulpex $470K, 1317 Par View Dr 3/3 $598K,

2510 Harbour Ln 2/2 $700K (our listing), 3358 Saint Kilda Rd 3/3 $910K, 1277 Par View Dr 4/3.5 $1.1M, 1106 Buttonwod Ln 3/2 $1.175M, 2190 Starfish Ln 3/3 $1.377M, 1052 Whisperwood Way 3/3 $1.45M, 4731 Rue Belle Mer 3/2 $2.4M.

LOTS

1 new listing: 4767 Tradewinds Dr $1.75M.

1 price change: 6505 Pine Ave now $799K.

2 new sales: 2998 Singing Wind Dr listed at $189K, 1321 Seaspray Ln listed at $995K.

1 closed sale: 1311 Par View Dr $263K.

Captiva

CONDOS

2 new listings: Beach Homes #3 3/2 $2.295M, Beach Homes #13 4/4.5 $4.099M.

1 price change: Beach Homes #22 2/2 now $2.095M.

1 new sale: Bayside Villas #5202 1/2 listed at $375K.

No closed sales.

HOMES

1 new listing: 16813 Captiva Dr 3/3 $2.6M.

2 price changes: 14860 Mango Ct 5/4 now $1.894M, 15831 Captiva Dr 2/2.5 now $4.198M.

No new or closed sales.

LOTS

Nothing to report.

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

is it sunday yetWhatever your team preference, I hope you enjoy Super Bowl Sunday!

Until next Friday – Susan Andrews aka SanibelSusan

Florida REALTORS & Sanibel/Captiva Scoop


Today, SanibelSusan is in Orlando finishing up at the Florida Realtors® Mid-Winter Business Meetings. Here’s hoping this week’s blog doesn’t look too different – I am producing it using my iPhone and iPad. Gotta love this on-the-road technology!

The Sanibel & Captiva Islands Association’s leadership team was excited Wednesday night to make a clean sweep of the Florida PAC awards for a small board. Below is our 2018 President Dustyn Corace with the first of the trophies. Congratulation to our 2017 RPAC Committee co-chairs Realtor Tina DiCharia and Dave Arter (at left of Dustyn in photo) for leading the charge, and to our entire island membership for their participation and support! Also shown, in addition to the old gray-haired gal next to Dustyn, are our President-Elect soon-to-be-Mom Kasey Albright and her tall husband Realtor Brendan Albright, plus our Association Executive and CEO Bill Robinson.

D70948CC-3A31-45CB-916C-8C966A337407

My teammates have kept the office running smoothly the couple of days I have been here. Tuesday morning, I attended a preliminary closing just before heading out of town, while teammate Dave handled two others later in the week. The details on those, plus teammate Elise’s report of the week’s action in the Sanibel & Captiva Islands Multiple Listing Service follows a couple of news items below.

East Rocks Main Replacement

Island Water logoHere’s some scoop about The Rocks from the Winter “IWA Pipeline”.

“The East Rocks water main replacement, a portion of which was planned for completion in 2017, will now be started and completed beginning in the Spring of 2018. Since a majority of the country’s raw material for manufacturing PVC and HDPE pipe originates in the Texas area, Hurricane Harvey put a serious dent in the supply and price of this commodity. The portion of East Rocks Drive that was planned for 2017 was put off until 2018 when it will be completed along with the rest of the project.

“East Rocks had some streets partially upgraded years ago when fire hydrants were installed. This current project will remove all of the remaining thin-walled pipe and add a fire hydrant on Durion Court. As with the Brine Sump Replacement Project, this project will be paid for out of our reserves, with no assessments to members. This project has a budget of $280K.”

Home Water Treatment Systems

island waterMore about Sanibel’s water from the same “IWA Pipeline”.

“It has recently come to our attention that plumbing companies are attempting to sell our members expensive whole-home water treatment/softener systems. There is simply no need to install such a system to treat our water. The mineral content of our water is very low. In fact, after running through the Reverse Osmosis membranes, there are no minerals in the water. We have to add minerals in the form of a small amount of raw water back into our water to bring the total hardness up to between 30 to 60, depending on which wells we use. The state considers a total hardness of between 80-120 to be optimal. Anything below 100 is considered soft. Do not let a water treatment sales person try to tell you our water is hard.

“If the issue is chlorine residual, which is required by law, buy yourself a charcoal filter for the kitchen faucet or refrigerator water line for drinking water and ice. If you buy a whole-house charcoal filter, you will be removing the disinfectant from your house plumbing, which could lead to bacterial growth in your piping.

“If you would like your water tested, bring in a sample in a clean plastic or glass bottle, and we can test for chlorine residual and hardness. It should be at least a pint, at room temperature, and brought here as soon as possible. Chlorine degrades over time.”

Sanibel Library Update

sanibel-library-logoThe latest issue of the Sanibel Library newsletter had some interesting info too:

“Sanibel Public Library was recognized with a 2017 “Four Star” rating by “Library Journal”, the fourth time Sanibel has earned this national award. In statewide rankings of Florida public libraries, Sanibel Public Library ranked:

#1 for Material Available Per Capita: 13.11 (statewide average 1.86) Books, Movies, Music, Magazines
#1 for Public Computers Available Per 1,000: 4.6 (statewide average 0.82)
#1 for public space (square feet)
#2 for Circulation Per Borrower: 21.65 (statewide average 11.04)
#2 for Program Attendance Per Capita: 7 (statewide average 0.23)
#3 for Library Visits Per Capita: 18.51 (statewide average 3.79).”

Wondering what’s happening at the Library now?

“The award-winning Sanibel Public Library is a community anchor that encourages discovery, enrichment, and lifelong learning. The Library began with volunteers in the 1960s and is currently in its fifth home, which opened in 1994. In 2004 the building was expanded to its current size. Both the appearance and the quality of the structure are outstanding, but the infrastructure – HVAC, fire suppression, plumbing, lighting, technology, and flooring – are being upgraded for greater efficiency and sustainable design.

“As we take care of the infrastructure, we looked at the current use of the building, and how that use has changed over the past several years and how it will change in the future. Your Library Board of Commissioners is responding to these ever-changing needs while maintaining what is good about the last 50 years of library service on Sanibel, with a focus on fresh, new, dynamic services and programs.

“Reconfiguring the interior includes a user-centered service design with flexible, multi-purpose spaces for reading and research, collaboration, multiple technology access points, children’s story-time space, and more. The Sanibel Public Library will be positioned for the next decade of exemplary, innovative, and responsive library service.

“Your Library Reimagined has been in the planning since early 2015. The Library Board set a budget of $5.9 million, which is being covered by Library reserves, grants, and gifts. The project is currently in Phase I, half the Library is open to the public during the remodel. Phase I is nearing completion, and Phase II is expected to begin in February, with full completion expected by September 2018.”

2018 Florida Real Estate Trends

97C7F585-3EEB-4DE8-9BFE-5F821247F52BHere are a few notes from the session I attended yesterday at the Florida Realtors Governance Meetings. This one included presentations by:

● Dr. Tony Villamil, who was Governor Bush’s first Director for Tourism, Trade, and Economic Development. Previously, he was President George Bush’s U.S. Undersecretary of Commerce for Economic Affairs. Today, he is the founder and principal advisor at The Washington Economics Group, Inc.

● Kevin Foreman who leads INDRIX Big Data and GeoAnalytics. He is the General Manager of GeoAnalytics.

● Dr. Brad O’Connor, Florida REALTORS Chief Economist.

The following snippets are from Dr. Villamil’s presentation: “National & Florida Economic Outlook”. Next week’s update will include info from the other speakers’ presentations: “How Self-Driving Cars Will Impact Real Estate” and “Florida Residential Resale Market Update”. All were interesting, and confirm the real estate business continues to evolve – in a good way!

According to Dr. Villamil, the overall international business climate will not change significantly in 2018.

Positive factors in Florida’s economy include the state being pro-growth with increasing population and growing employment. Global economy is expanding at a moderate pace and the U.S. economy also will grow this year at a good clip.

His 2018 economic outlook has U.S. gross domestic product (GDP) up 3% and world output globally up 3.5%. Canada is doing well. The economy is expected to be up India (under new prime minister (democracy)) and China. Brazil is expected to be back in action too, but there is mixed outlook for Latin America.

In financial markets, inflation may be up 2%, but household net worths are doing very well, consumers will continue to buy, and real estate will remain in demand.

Much of Florida’s economy depends on open global markets. Watch for the modernization of NAFTA (North America Free Trade Agreement), and U.S./global markets going to “sunshine”.

Florida’s employment is growing faster than the rest of the nation. That should continue in 2018. Florida’s real GDP which is top among states also should continue to increase too and pass $1 trillion in 2018!

Dr. Villamil expects a positive environment for Florida’s 2018 real estate markets with the strong economic expansion to continue; population, employment, and visitor growth to be more than 2017; positive tax changes for Florida residents; and international visitors and foreign investment to increase.

Economic factors that need to be monitored include the Fed being less accommodating, inflation expectations, “hard” Brexit, the U.S. dollar exchange rate, trade/immigration policy, and 2018 national and state elections.

So overall, it should be another outstanding year for Florida business. Exciting changes are coming though. More info on that next week.

Sanibel & Captiva Multiple Listing Service Activity January 19-26, 2018

Sanibel
CONDOS
3 new listings: Donax Village #9 2/2 $499K, Pointe Santo #E35 2/2 $1.295M, Island Beach Club #340D 2/2 $1.379M.
8 price changes: Spanish Cay #A7 1/1 now $274K (our listing), Sand Pointe #122 2/2 now $649K (our listing), Nutmeg Village #201 2/2 now $999K, Gulfside Place #222 2/2 now $1.175M, Gulfside Place #123 2/2 now $1.198M, Gulfside Place #323 2/2 now $1.398M, Gulfside Place #124 2/2 now $1.225M, Poinciana #3C 3/2 now $1.725M.
5 new sales: Mariner Pointe #1073 2/2 listed at $499K, Sanibel Inn #3535 2/2 listed at $765K, Surfside 12 #A1 3/2 listed at $799K, Sundial West #E208 2/2 listed at $1.15M, By-The-Sea #C302 3/2 listed at $1.745M.
2 closed sales: Nutmeg Village #109 2/2 $665K, Bandy Beach #A101 3/2 $1M (our buyer).

HOMES
12 new listings: 1410 Sand Castle Rd 2/2 $639K, 5307 Ladyfinger Lake Rd 3/2.5 $645K, 1020 White Ibis Dr 3/2 $689K, 3837 Coquina Dr 2/2 $725K, 3825 Coquina Dr 3/3 $849K, 5410 Osprey Ct 3/2.5 $849K, 5739 Pine Tree Dr 3/3 $849K, 3050 West Gulf Dr 3/2.5 $979K, 542 N Yachtsman Dr 2/2 $989K, 824 Birdie View Pt 3/3 $1.198M, 3822 West Gulf Dr 3/2 $1.199M, 1316 Eagle Run Dr 4/3 $1.299M.
13 price changes: 1027 Sand Castle Rd 2/2 now $549K; 3784 Coquina Dr 3/3 now $599,995; 1478 Albatross Rd 3/2 now $639K; 998 Fish Crow Rd 3/2 now $644K; 1342 Junonia St 3/3 now $689K; 3323 Twin Lakes Ln 3/3 now $787K; 5280 Ladyfinger Lake Rd 3/2 now $849K; 4791 Rue Helene 3/2 now $849K; 707 Cardium St 3/2 now $879K; 478 Sea Oats Dr 3/3 now $1.195M; 805 Sand Dollar Dr 4/3 now $1.395M; 536 Lighthouse Way 4/4.5 now $3.195M; 3009 Turtle Gait Ln 4/4.5 now $3.299M.
5 new sales: 3021 Singing Wind Dr 3/2 listed at $499K, 1470 Angel Dr 3/2 listed at $920K, 789 Pyrula Ave 4/2.5 listed at $1.095M, 900 Almas Ct 3/3.5 listed at $1.199M, 4641 Rue Belle Mer 3/2.5 listed at $3.295M.
5 closed sales: 1817 Atlanta Plaza Dr 3/2 $385K, 545 Piedmont Rd 3/2 $585K, 241 Violet Dr 3/2.5 $685K, 1035 Kings Crown Dr 4/3 $1.71M, 1149 Paper Fig Ct 4/3 $2.179M.

LOTS
1 new listing: 1550 Centre St $225K.
No price changes.
1 new sale: Lot 27, Leisure Acres listed at $59K.
No closed sales.

Captiva
CONDOS
3 new listings: Sunset Beach Villas #2214 2/2 $620K; Captiva Shores #8B 3/2.5 $1.648M; Seabreeze #1253 3/3 $1,999,999.
1 price change: Marina Villas #610 2/2 now $699K.
1 new sale: Beach Cottages #1403 2/2 $1.195M.
1 closed sale: Captiva Shores #4B 3/2.5 $1.3745M.

HOMES
1 new listing: 16177/179 Captiva Dr 3/3 $3.75M.
2 price changes: 11535 Chapin Ln 4/3 now $1.395M, 16163 Captiva Dr 3/2 now $2.695M.
No new sales.
1 closed sale: 11526 Laika Ln 4/4 duplex $1.725M.

LOTS
Nothing to report.

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

Until next week! Enjoy your weekends wherever you are & please contact the SanibelSusan Team for your real estate needs. We are always ready to help you!

Susan Andrews, aka SanibelSusan

Yikes, Jacket Weather on Sanibel Island


Canal aPavers aExt FrontDock aCanal bExt BackLanai a

Yesterday was the islands’ low (so far) winter temperature for the year, a chilly 37 degrees F when SanibelSusan left home at 8 a.m. for our Realtor Caravan Meeting. Our new listing at 569 Lighthouse Way (shown above) was open for viewing during the following Caravan Open House. In addition to boat dock with two lifts (14K# & 5K#), it has new windows/doors, paint, landscaping, & cool fish pavers on the walkways & drive.

It was another cold morning today, but it looks like, starting Monday, day-time temperatures should be back in the 70’s again.

The action posted in the Sanibel & Captiva Islands Multiple Listing Service since last Friday follows a few news items below.

Sanibel Community House Fine Arts Festival

Community House logoToday and tomorrow (Jan 19 and 20), the Community House is trying something new with a Fine Arts Festival to benefit the Community House itself and the Sanibel Community Association. It is a little smaller than some on the usual annual events held there. It is featuring over 50 artists showcasing a range of work including paintings, sculptures, jewelry, hand-blown glass, photography, and more. Open both days from 9 a.m. to 4 p.m., I bet they have a good turn-out with the weather chilly. Maybe some shoppers will cross the street to find out about real estate too.

If you haven’t checked out the new Community House yet, it’s worth a visit. The Community House has posted lots of new events that include the talents of their resident chef and take advantage of the new facility. See more info and their schedule at www.SanibelCommunityHouse.net.

Sanibel & Captiva Islands Association of REALTORS®

Sanibel realtors logoLast week, SanibelSusan was the Installing Official at the islands’ Association of REALTORS® Annual Installation and breakfast at The Sanctuary. It was an honor! Congratulations to outgoing President Joel Goodman for a great year and to incoming President Dustyn Corace for the good year to come.

Community Service Awardthe awards presentations that followed, I was one of the Sanibel/Captiva Realtors® that made their 2017 Honor Society (my 25th consecutive year). I also received with the islands’ 2017 Community Service Award and a President’s “Above and Beyond” Award. It’s always nice to be recognized.

In 2018, I again will Chair our Sanibel/Captiva Ombudsman Program. Each Realtor® Association is required to have this self-governing program. An ombudsman’s role is primarily one of communication and conciliation, not adjudication. Ombudsmen do not determine whether ethics violations have occurred or who is entitled to what amount of money, rather they anticipate, identify, and resolve misunderstandings and disagreements before matters ripen into disputes and possible charges of unethical conduct. The islands’ Association is lucky, we rarely have disputes. Having this system of communication works and I am happy to help with it.

Island Inn Road Reopened to Pedestrian & Bike Traffic

The City announced this week that the stretch of Island Inn Road immediately west of Tarpon Bay Road that had been closed to public traffic since September while the area was operating as the Disaster Debris Management Site for Sanibel’s recovery efforts following Hurricane Irma has been reopened for pedestrian and bicycle use.

Disaster Tax Relief Act of 2017

NoacklogoThe following info from Sanibel & Captiva Islands Association of Realtors® Affiliate Member, Noack & Company CPA’s:

Out of Pocket Damages – The first $500 you spend on hurricane related damages is not a tax write-off, but what you spend over that could be! This includes (but is not limited to) your roof damages, screening enclosure repairs and landscaping/tree removal costs. Anything that you spend that is a qualified hurricane damage cost that is over $500 (and NOT reimbursed by insurance) may qualify for a write off regardless of if you itemize or take the standard deduction. Best advice – use qualified contractors and keep your receipts.

Retirement Plan Distributions – If you are struggling to catch up, or can’t afford to pay for the damages, you may be able to take money out of your retirement account (up to $100,000) without the early distribution 10% penalty to help. You may also be able to spread the taxable income out over three years instead of including the money you take out all in your taxable income in the year you took it. Oh, and you can take advantage of this anytime from 9/4/17 to 1/1/19.

Employers Retention Credit – EMPLOYERS: listen up! If your business was unable to operate ay any point from 9/4/17 to 1/1/18 due to hurricane damages or power outages and you paid your employees, you may be eligible for a credit for some of the wages you paid! Limitations apply, but if you think you may qualify for this consult with your tax professional for more details.

“The three relief options above … a guide…. consult your tax professional on determining if you qualify….’

Provided by Carol McCarley with Noack & Company CPA’s at 239-936-6144, Carol@cpaofFlorida.com

Tidbits About Hammon Stadium

Minnesota Twins Workout SessionsMost island owners and vacationers have enjoyed an event or two at the Minnesota Twins Hammond Stadium at the CenturyLink Sports Complex. Lee County reports that it garners $50 million in direct visitor spending each year, thanks to its hosting of spring training for the Minnesota Twins and the Boston Red Sox (about $25 million from each team).

Hammond Stadium, home to the Minnesota Twins for spring training, completed a $48.5 million renovation in 2015 that was supported with dollars from a bed tax, which is a local charge levied on hotel rooms (& other short-term rentals) in the area. In return, the team signed a 30-year lease and agreed to stay in the area through at least 2044.

Here are a few fun facts about the stadium that I found in the Jan/Feb 2018 issue of “Gulfshore Business” magazine.

Employees there during a game:           300

Cars in the lots:                                           2,500 – 2,800

Parking attendants:                                   more than 50

Parking shuttles:                                        4

Total seats:                                                  8,730

Infield seats:                                               6,550

Porch seating:                                            2,180

Hot dogs sold:                                            ~2,000

Beers sold:                                                  7,000

Sodas sold:                                                  4,000

Waters sold:                                               2,000”

No Special Election for Sanibel City Council Seat

Sanibelcityseal logoCongratulations to friend, former appraiser, and former Vice Chair of the Sanibel Planning Commission, Holly Smith who will serve on Sanibel’s City Council until March 2019. Holly is one of the hardest-working gals I know – fair, thoughtful, smart, and resourceful.

She was one of ten applications who applied to fill the unexpired term of Jim Jennings who resigned his City Council seat in October after moving off island. She recently received that appointment which meant she would fill the position until a March 20 Special Election. This week, we learned that Holly was the only applicant for that Special Election. As a result, there will be no election and she will serve the rest of Jim’s term.

Holly already has well served Sanibel’s citizenry for several terms as a Planning Commissioner. Since she received the Council appointment she has already “dug in” and last week attended the Everglades Coalition conference in Stuart water quality. If you run into Holly, please thank her for her service and her willingness to continue.

Tax Reform – A Comparison of Prior Law With New Law

Probably best to consult your own tax professional, but here’s a quick comparison of a few items that affect real estate:

  Prior Law New Law
Mortgage interest deduction including 2nd homes) Capped at $1M Capped at $750K
Home-equity loan deduction Capped at $100K Not deductible
1031 Like-Kind Exchange Applied to all classes of property (personal & real) Limits non-recognition of gain to real property
Depreciation Recovery Period for Real Property (residential rental) 27.5 years No change
Depreciation Recovery Period for Real Property (non-residential) 39 years No change
Depreciation Recovery Period for Real Property (leasehold improvements) 15 years No change
Capital Gains Exemption on Sale of Primary Residence Up to $250K ($500K if married) & if lived in for 2 of last 5 yrs No change

Sanibel & Captiva Multiple Listing Service Activity January 12-19, 2018

Sanibelsancap GO MLS logo

CONDOS

7 new listings: Sundial West #G407 1/1 $460K, Mariner Pointe #1073 2/2 $499K, Loggerhead Cay #433 2/2 $594.9K, Compass Point #232 2/2 $689K, Sandpiper Beach #506 2/2 $749K, Pointe Santo #E21 2/2 $927K, Pointe Santo #C35 3/2 $949K.

5 price changes: Lighthouse Point #217 3/2 now $465K, Sundial West #G206 1/1 now $499.9K, Sundial West #F201 2/2 now $849.9K, High Tide #C201 2/2 now $989K, Gulfside Place #123 2/2 now $1.223M.

4 new sales: Spanish Cay #F3 1/1 listed at $277K, Spanish Cay #A4 2/2 listed at $374K, Sundial West #J307 2/2 listed at $759K, Sanibel Arms West #D5 2/2 listed at $849K.

2 closed sales: Nutmeg Village #211 2/2 $630K, Shorewood #2B 3/3 $1.553M.

HOMES

14 new listings: 9248 Kincaid Ct 2/1 $475K, 744 Martha’s Ln 2/2 $620K, 836 Donax St 3/2 $629K, 721 Durion Ct 3/3 $725K, 1325 Par View Dr 3/3 $749K, 9224 Dimmick Dr 3/2 $898K, 925 Lindgren Blvd 3/2 $995K, 3941 Coquina Dr 3/2 $999K, 1545 Sand Castle Rd 4/3.5 $1.199M, 2479 Blind Pass Ct 3/2 $1.3M, 430 Glory Cir 4/5.5 $1.495M, 1033 S Yachtsman Dr 3/3 $1.495M, 1475 Angel Dr 3/4.5 1.549M, 4265 West Gulf Dr 4/4.5 $4.895M.

10 price changes: 1040 Sand Castle Rd 3/2 now $569.9K, 1846 Ardsley Way 2/2 now $598K, 1425 Causey Ct 4/3 now $729K, 1245 Anhinga Ln 3/2 now $849.9K, 9224 Dimmick Dr 3/2 now $898K, 789 Pyrula Ave 4/3.5 listed at $1.095M, 6123 Starling Way 3/2.5 now $1.175M, 1672 Hibiscus Dr 3/2 now $1.229M, 900 Snowberry Ln 4/3 now $2.995M, 6111 Sanibel-Captiva Rd 5/4/3 now $19.975M.

7 new sales: 340 East Gulf Dr 2/2 listed at $569K, 1710 Sand Pebble Way 3/2 listed at $629K, 1169 Sand Castle Rd 3/2 listed at $679K, 601 Sea Oats Dr 3/2 listed at $685K, 5280 Ladyfinger Lake Rd 3/2 listed at $895K, 765 Conch Ct 5/4 listed at $899K, 701 Anchor Dr 3/3.5 listed at $1.295M.

2 closed sales: 4606 Brainard Bayou Rd 2/2 $455K, 673 East Rocks 3/2 $651.5K.

LOTS

Nothing to report.

Captiva

CONDOS

No new listings or price changes.

1 new sale: Beach Villas #2621 2/2 listed at $650K.

2 closed sales: Tennis Villas #3220 1/1 $283,113; Tennis Villas #3223 1/1 $305K.

HOMES

No new listing.

1 price change: 11531 Paige Ct 4/3.5 now $3.49M.

No new or closed sales.

LOTS

Nothing to report.

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

DingDarlingSunset 01-12-18

Until next Friday, stay warm! Susan Andrews, aka SanibelSusan

Another Friday On Sanibel


A steady increase in traffic is noticeable here on the island, which we expect to continue through Easter. The weather has been great this week, but an additional cold front is expected to arrive this weekend and is due to stay around all next week. Wednesday morning low looks to be in the 30’s.

Sanibelcityseal logoBoat Ramp Rehabilitation Project Complete

The City of Sanibel Boat Ramp Rehabilitation project is complete and now open to the public. The project consisted of removal and replacement of the deteriorated concrete boat ramp. The completed boat ramp includes modified slopes for improved boating access and a new v-groove pattern for added vehicle traction. The dock walkways were widened and a railing added for safety. Parking at the boat ramp is available as paid hourly or through a valid Sanibel “C” parking pass.

Sanibel & Captiva Multiple Listing Service Activity January 5-12, 2018

Sanibel

CONDOS

4 new listings: Sundial West #J307 2/2 $759K, Surfside 12 #A1 3/2 $799K, Sanibel Arms West #D5 2/2 $849K, By-The-Sea #B202 2/2 $1.249M.

6 price changes: Lighthouse Point #220 2/2 now $450K, Mariner Pointe #521 2/2 now $475K, Sanibel Arms West #H2 2/2 now $499K, Mariner Pointe #1061 2/2 now $589.9K (our listing), High Tide #C101 2/2 now $939K, Gulfside Place #123 2/2 now $1.248M.

1 new sale: Blind Pass #D105 2/2 listed at $419K.

4 closed sales: Sundial West #G105 1/1 $425.1K, Loggerhead Cay #153 2/2 $870K, Sanibel Moorings #1221 3/2.5 $965K, By-The-Sea #9 3/2 $1.749M.

HOMES

8 new listings: 6143 Henderson Rd 4/3 $489K, 1169 Sand Castle Rd 3/2 $679K, 1550 Centre St 4/3 $725K, 1245 Anhinga Ln 3/2 $875K, 938 Pecten Ct 3/2.5 $1.195M, 569 Lighthouse Way 3/3 $1.395M (our listing), 4641 Belle Mer 3/2.5 $3.295M, 1310 Seaspray Ln 4/4 $5.795M.

6 price changes: 3784 Coquina Dr 3/3 now $625K, 9446 Beverly Ln 3/3.5 now $874.5K, 1470 Angel Dr 3/2 now $920K, 5402 Osprey Ct 4/3 now $1.025M, 1672 Hibiscus Dr 3/2 now $1.249M, 2167 Starfish Ln 4/4.5 now $1.975M.

8 new sales: 9292 Kincaid Ct 3/2 listed at $489K, 5301 Ladyfinger Lake Rd 3/2 listed at $649K, 1323 Par View Dr 3/2 listed at $649K, 1513 Sand Castle Rd 3/2.5 listed at $689K, 1314 Par View Dr 3/2 listed at $800K, 1341 Sand Castle Rd 3/2 listed at $845K, 1035 Kings Crown Dr 4/3 listed at $1.7495M, 547 Kinzie Island Ct 4/4.5 listed at $1.789M.

4 closed sales: 1312 Par View Dr 3/2 $685K, 700 Nerita St 3/2 $675K, 932 Whelk Dr 3/3 $1.15M, 3869 West Gulf Dr 6/7/2 $7.8M.

LOTS

7 new listings: 1313 Par View Dr $365,555; 809 Pyrula Ave $475K; 217 Violet Dr $575K; 3304 Saint Kilda Rd $699K; 6000 White Heron Ln $169K; 0 Sawgrass Pl $949K; 1321 Seaspray Ln $995K.

3 price changes: 2486 Wulfert Rd now $169K, 0 Island Inn Rd now $279K, 5251 Indian Ct now $729K.

No new or closed sales.

 Captiva

CONDOS

1 new listings: Beach Villas #2621 2/2 $650K.

No price changes or new sales.

3 closed sales: Sunset Captiva #201 2/2 $830K, Beach Homes #7 2/2 $1.4M, Beach Homes #8 4/3 $2.35M.

HOMES

1 new listing: 10 Sunset Captiva Ln 2/2.5 $989K.

1 price change: 11509 Chapin Ln 4/4 now $2.149M.

2 new sales: 15154 Wiles Dr 4/3 listed at $1.495M, 16167 Captiva Dr 4/3 listed at $1.595M.

1 closed sales: 14865 Mango Ct 2/2 $850K.

LOTS

Nothing to report.

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

Have a Great Weekend!

Elise for The SanibelSusan Team

Brrrr…It’s Cold Outside


Well, this week has been a cold week on Sanibel. We won’t complain though, as we are thinking of everyone elsewhere in the US dealing with far greater cold temps. Stay warm & safe everyone.

Insurers Try New Tactic To Limit Damage Claims

Florida Realtors logoHere is an article posted on FloridaRealtors® website: Some Florida homeowners are discovering their insurance companies are employing an interesting strategy to avoid future claims costs.

Settlement checks sent by at least three companies include language stating that accepting the check releases the companies from further obligations connected to the claim.

Plaintiffs’ attorneys say they have major problems with this strategy: It tries to intimidate policyholders into not seeking payment for additional costs that come up during repairs and is likely unenforceable.

Palmetto Bay-based trial attorney Joe Ligman pointed to a section of Florida insurance law stating an insurer, after paying “actual cash value” for an insured loss minus any applicable deductible, “shall pay any remaining amounts necessary to perform such repairs as work is performed and expenses are incurred.”

But that’s not what notices from two of Florida’s largest insurers say.

On the back side of checks sent to homeowners, Fort Lauderdale-based Universal Property & Casualty includes the statement that an endorsement by the payee “constitutes receipt and release in full settlement for the claim or item mentioned in the draft.” Universal P&C is the state’s largest property insurer, with 612,227 policies statewide and 237,172 in the tri-county region as of Sept. 30, according to state records.

Along with a check sent to at least one of its homeowners, Deerfield Beach-based People’s Trust Insurance sent a letter stating that “your endorsement of the indemnity check constitutes a full accord and satisfaction of a disputed loss.”

And a third company, Sarasota-based Gulfstream Property and Casualty Insurance Co., enclosed with checks to at least two victims of Hurricane Irma a “release of property damage” that “does hereby … release, acquit and forever discharge” the company and its officials “from any and all claims, actions, causes of actions, demands, rights, damages, costs, loss of service, expenses and compensation whatsoever” stemming from the hurricane.

By contrast, state-run Citizens Property Insurance Corp. acknowledged in December that rising labor and materials costs triggered by Hurricane Irma would likely result in higher repair costs than initially estimated.

“As they go through the claims and repairs process, things will come up that may require us to readdress [and reopen] the claim,” Citizens spokesman Michael Peltier said Wednesday.

Locke Burt, chairman and president of Ormond Beach-based Security First Insurance, said his firm does not send release language with its claims checks “because we agree with the trial lawyer. It wouldn’t stand up in court.” Plus, he said, “We wouldn’t treat people that way.”

The Sun Sentinel contacted Universal P&C, People’s Trust and Gulfstream and asked each why they assert that acceptance of a settlement check releases them from supplemental claims.

The state law requiring insurers to pay any remaining amounts for additional work does not apply to People’s Trust, which operates a unique business model known as “managed repair,” countered Amy Rosen, the company’s chief marketing officer.

The company, with 129,626 policies statewide and 56,511 in the tri-county region, provides a premium discount in exchange for a customer’s agreement to use its affiliated “Rapid Response Team” contractor to make repairs. Rosen said it only sends the letter asserting acceptance of its check releases it from future obligations when a policyholder “wishes to receive a monetary payment in exchange for [the company’s] agreement to waive its right to have [the Rapid Response Team] perform the repairs.”

“If the insured accepts the monetary payment … then a settlement has been reached,” Rosen said. “If the insured does not accept the payment, then [the Rapid Response Team] repairs the property and, if additional covered damage is found, that is also repaired.”

Perry Cone, Gulfstream’s general counsel, declined to respond to questions about why it directs its policyholders to sign the release forms. “Gulfstream absolutely follows Florida law in its claims handling processes,” Cone wrote.

Travis Miller, spokesman for Universal Property & Casualty, said the statement on the checks “does not preclude claims for replacement costs or supplemental damage,” adding it “represents payment for items that have been reported to the insurer, have been reviewed, and are included within the scope of the draft.” He said other statements with the check will specify that the release pertains to a portion of coverage the check is for, such as additional living expenses, and “does not affect other payments such as replacement costs or other portions of the same claim [or any other claim.]”

Trial attorney Ligman, representing a policyholder who has declined to endorse a check from Universal, has filed a petition asking a Miami-Dade County circuit court judge to determine whether endorsement of the company’s check would bar him from making future claims.

“Universal refuses to change their check policy and continues to send the check release endorsement in violation of Florida law in order to trick their insureds to believe that they are releasing all future claims,” the petition states.

Sanibel & Captiva Multiple Listing Service Activity December 29, 2017 – January 5, 2018

Sanibel

CONDOS

1 new listing: Sandy Bend #4 2/2 $779K.

6 price changes: Tennisplace #D21 1/1 now $244.8K, Captains Walk #B2 1/1 now $249K (our listing), Lighthouse Point #220 2/2 now $450K, Pine Cove #102 3/2 now $1.25M, Gulfside Place #123 2/2 now $1.273M, Plantation Village #312 3/2.5 now $1.749M.

1 new sale: By-The-Sea #9 3/2 listed at $1.749M.

2 closed sales: Sanibel Arms #F2 1/1 $470K, Nutmeg Village #205 2/2 $745K.

HOMES

8 new listings: 9477 Peaceful Dr 3/2 $537K; 887 Casa Ybel Rd 5/3 duplex $575K; 1513 Sand Castle Rd 2/2.5 $689,000; 3010 West Gulf Dr 3/2 $799K; 529 Lake Murex Cir 3/2 $799,997; 9028 Mockingbird Dr 4/3 $889K; 4960 Joewood Dr 3/3 $1.049M; 940 Spoonbill Ct 3/2.5 $1.195M.

6 price changes: 9292 Kincaid Ct 3/2 now $489K, 4542 Bowen Bayou Rd 3/2 now $548K, 1327 Tahiti Dr 2/2 now $630K, 6123 Starling Way 3/2.5 now $1.225M, 1995 My Tern Ct 4/2 now $1.389M; 2029 Periwinkle Way 4/3 now $1.899M.

12 new sales: 1613 Sand Castle Rd 3/2.5 listed at $499K, 9446 Yucca Ct 3/2 listed at $545K, 2521 Key Lime Pl 3/2 listed at $599K, 241 Violet Dr 3/2.5 listed at $750K, 335 East Gulf Dr 3/2 listed at $1.095M, 1307 Par View Dr 3/3 listed at $1.1M, 1277 Par View Dr 4/3.5 listed at $1.15M, 1106 Buttonwood Ln 3/2 listed at $1.2M, 1313 Eagle Run Dr 3/3 listed at $1.35M, 1052 Whisperwood Ln 3/3 listed at $1.499M, 3945 West Gulf Dr 3/3 listed at $3.195M, 4115 West Gulf Dr 4/5 listed at $5.485M.

4 closed sales: 725 Nerita St 2/1 $385K, 5292 Umbrella Pool Rd 3/2 $540K, 3273 Twin Lakes Ln 3/2 $820K, 4155 West Gulf Dr 4/3 $4M.

LOTS

No new listings or price changes.

1 new sale: 667 Birdie View Pt listed at $345K.

No closed sales.

 Captiva

CONDOS

1 new listing: Tennis Villas #3216 1/1 $330K.

1 price change: Marina Villas #610 2/2 now $725K.

1 new sale: Beach Villas #2514 2/2 listed at $609K.

No closed sales.

HOMES

2 new listings: 20 Urchin Ct 2/2.5 $989K, 16801 Captiva Dr 3/3.5 $2.695M.

2 price changes: 1114 Schefflera Ct 4/3.5 now $2.899M, 15133 Captiva Dr 3/3 now $3.2M.

1 new sale: 1121 Schefflera Ct 4/4.5 listed at $5.6M.

2 closed sales: 11461 Old Lodge Ln 2/2 $995K, 11500 Gore Ln 3/2 $1.15M.

LOTS

Nothing to report.

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

Have A Great Weekend!

Elise for The SanibelSusan Team

 

 

 

 

 

 

 

 

 

 

 

 

 

Happy New Year From Sanibel


We have enjoyed another week of nice weather here on Sanibel. Today and into the New Year we are expecting a “cool front” with morning lows in the 50’s (later next week to be in the 40’s) & the afternoons warming to the mid 60’s, low 70’s. Lots of people this week, walking, biking, & filling up the roads. Here at the office we know when it is 3:30, as the cars are stopped on the road out front.

polar bear plungeNew Year’s Day Polar Bear Plunge

On Monday, January 1, the Sanibel-Captiva Chapter of the National Polar Bear Club will hold its 18th annual meeting at “the crack of noon” at Tarpon Bay Beach (the south/gulf end of Tarpon Bay Road). The meeting will begin with the singing of the traditional Polar Bear anthem by the Cubbies (first-timers), Juveniles (one-time previous dippers) and seasoned Adult bears (those who took the plunge in previous years). Following the anthem, the Polar Bears will enter the “icy” gulf waters. Everyone is welcome. Chairs and coolers are optional.

Sanibel Library Earns Award

sanibel libraryThis year marks the fourth time the Sanibel public library has been recognized as one of the best libraries in the country by Library Journal. The rating is based on the number of people walking through the library’s doors, number of program attendees and the number of books checked out. The rating is also based on electronic material.

“Ding” Darling Announces 2018 Film Series

ding darlingThe sixth annual “Ding” Darling Wednesday Film Series kicks off its bi-weekly showings this winter with a schedule of seven films that explore natural facets from pollinators and coral to wild Florida and the war on coal. It runs Jan. 10 through April 4.“Ding” Darling Wildlife Society-Friends of the Refuge hosts the free film showings in the “Ding” Darling Visitor & Education Center with sponsorship from Sanibel-Captiva Beach Resorts. Seating is limited and on a first-come basis.

Below are the season’s scheduled films. All films begin at 1 p.m. except the Jan. 24 film, which airs at 10a.m. A short discussion will follow each film to allow visitors to gain more from their documentary-viewing experience by listening to other people’s points of view and analyzing what they just watched. For full descriptions of the films, please visit www.dingdarlingsociety.org

Jan. 10 – Wings of Life

Jan. 24 – Tapped

Feb. 7 – From the Ashes

Feb. 21 – Chasing Coral

March 7 – The Forgotten Coast: Return to Wild Florida

Mach 21 – Mission Blue

April 4 – STRAWS

Sanibel & Captiva Multiple Listing Service Activity December 22-29, 2017

Sanibel

CONDOS

1 new listing: Sundial West #F308 1/1 $439K.

No price changes.

3 new sales: Sanibel Moorings #1221 3/2.5 listed at $1.095M, White Sands #32 2/2.5 listed at $1.095M, Bandy Beach #A101 3/2 listed at $1.299M (our Buyer).

1 closed sale: Captains Walk #A8 2/2 $347K.

HOMES

2 new listings: 5299 Umbrella Pool Rd 3/2.5 $539K, 5411 Osprey Ct 3/2 $1.295M.

2 price changes: 563 Hideaway Ct 3/2 now $699K, 4460 Waters Edge Ln 3/2 now $898K.

3 new sales: 1394 Middle Gulf Dr half-duplex listed at $524.9K, 1943 Sanibel Bayou Rd 3/3 listed at $649.9K, 5743 Baltusrol Ct 3/3/2 listed at $1.495M.

6 closed sales: 1390 Middle Gulf Dr 3/3 half-duplex $430K, 1187 Sand Castle Rd 3/2 $635K, 2030 Sunrise Cir 3/3 $605K, 1195 Par View Dr 3/2.5 $1M, 519 Kinzie Island Ct 3/2.5 $1.25M, 750 Periwinkle Way 5/4 $1.49M.

LOTS

2 new listings: 4538 Bowen Bayou Rd $258K, 1817 Long Point Ln $399,555.

2 price changes: 5116 Sea Bell Rd now $169.5K, 5126 Sea Bell Rd now $169.5K.

No new or closed sales.

 Captiva

CONDOS

No new listings or price changes.

1 new sale: Captiva Shores #4B 3/2.5 listed at $1.495M.

No closed sales.

HOMES

4 new listings: 41 Oster Ct 2/2.5 $1.085M, 16163 Captiva Dr 3/2 $2.795M, 1124 Longifolia Ct 4/5 $4.3M, 15867 Captiva Dr 3/3.5 $4.895M.

No price changes.

1 new sale: 11526 Laika Ln 4/4 duplex listed at $1.749M.

No closed sales.

LOTS

Nothing to report.

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

happy new year

Happy New Year!

Elise for The SanibelSusan Team

Merry Christmas from Sanibel


It’s been a beautiful weather week, some fog in the early mornings, but with sunny skies every day. The Christmas Eve & Christmas Day forecasts look just as nice & sunny.

Sanibel & Captiva Islands Association of Realtors®

Sanibel realtors logoAs a reminder, there was no Realtor® Caravan this week, but the every-Thursday-morning schedule begins again on Dec 28 with a West Caravan.

ding darling goose logoFree Refuge Programs and Tours Begin In January 

This year, JN “Ding” Darling National Wildlife Refuge adds a new Horseshoe Crab program to its calendar of daily free tours and activities. The seasonal calendar of free programs and tours begins on Tuesday, January 2 and runs through April 8. Daily programs begin at 8:30 a.m. and include programs such as Nature Photography, Beach Walk, Birds of Prey, and Indigo Trail Walk. They have something for visitors of all ages and the programs/tours last anywhere from a half hour to two hours. For a full calendar of programs/tours and descriptions, visit http://www.dingdarlingsociety.org

henderson-franklinRent Tax Reduced Beginning January 1, 2018

Here is an article written by Henderson Franklin, Attorneys at Law:

The Florida Legislature recently delivered a small win for the business community with Florida House Bill 7109. Effective January 1, 2018, Florida Statute 212.031(1)(c) is amended by lowering the sales tax levied against commercial tenants from 6% to 5.8%. A more significant decrease would have been better, but commercial tenants will take what they can get, we suspect. The tax – known as the Business Rent Tax or “the BRT” – affects commercial tenants including retail, office space, and industrial tenants.

What is the BRT?

The Florida Legislature enacted the BRT in 1969, declaring that the business of renting, leasing, letting or granting a license for the use of commercial real property is a “taxable privilege.” In part because Florida has no personal income tax, the state government relies on sales taxes, including the BRT, as a significant source of revenue. Many local governments also impose a local option sales tax on top of the state BRT.

Florida is the only state to levy a statewide tax against commercial tenants, and thereby creates a competitive disadvantage for Florida businesses that lease rather than own their commercial space.

House Bill 7109

Florida’s BRT is unique from a national perspective in two respects: not only is it the only standard, statewide sales tax on commercial real estate rents, but unlike other corporate taxes, it is not pegged to profitability. As a result, the BRT significantly raises occupancy costs on all commercial tenants, regardless of their financial condition. New and/or struggling businesses in Florida may have the greatest difficulty with the burden this tax creates, and these businesses are likely to benefit the most from the tax relief in House Bill 7109.

Takeaway

Many voices within Florida’s business community have pushed for years for steep cuts to the BRT and, beginning in 2018, start to see their lobbying efforts bear fruit. Considering the significant impact the tax has on occupancy costs, the BRT should continue to be the subject of considerable debate in Tallahassee. As with all tax matters, please consult with your tax professional.

homesteadYou Can Inherit A Home, But You Can’t Inherit Taxes

Here is a helpful article posted at FloridaRealtors®. This one on Dec 18, 2017 is credited to Marty Kiar, Broward County property appraiser.

“The family home often passes from generation to generation as parents pass on, but Broward County’s property appraiser says he often gets a similar question the following year: Why did my property taxes go up so much?

“This happens when the decedent’s Homestead Exemption is removed the year following their passing and the Save Our Homes value is reset,” says Broward’s Marty Kiar. While alive, the parents had a cap on the amount their property taxes could go up each year thanks to Florida’s homestead exemption.

However, that protection ends and the house’s taxable value resets when it gets a new owner, even if that new owner inherited the house from his or her parents. In some cases, that higher taxable value can be dramatic.

Kiar notes only a few exceptions: A surviving spouse can inherit a house as well as the existing tax savings via Save Our Homes, as can a “legal dependent who was permanently residing on the property at the time of the decedent’s death.”

In all other cases, the new owner – even if he or she grew up in that house – must file for a new Homestead Exemption when they become the legal owner. Once filed, they also then have protection from yearly increases through Save Our Homes, though going forward it’s based on the first year they applied for the Homestead Exemption.”

Sanibel & Captiva Multiple Listing Service Activity December 15-22, 2017 

Sanibel

CONDOS

7 new listings: Spanish Cay #4 2/2 $374K, Sundial West #G105 1/1 $425K, Blind Pass #B211 2/2 $469K, Sunset South #1A 2/2 $775K, Loggerhead Cay #134 2/2 $995K, Tanglewood #1A 3/2 $1.149M, Atrium #201 3/3 $1.495M.

3 price changes: Sundial West #G204 2/2 now $649,999; Island Beach Club #220E 2/2 now $979K; Pointe Santo #E23 2/2 now $995K.

2 new sales: Sundial West #G105 1/1 listed at $425K, Sundial West #J207 2/2 listed at $695K.

6 closed sales: Seashells #44 2/2 $320K, Captians Walk #B5 2/1 $340K, Sundial West #C306 1/1 $404.5K, Blind Pass #B207 2/2.5 $469K, Sanibel Arms West #G8 2/2 $475K, Bougainvillea #A3 4/4 $3.55M.

HOMES

12 new listings: 1613 Sand Castle Rd 3/2.5 half-duplex $499K, 1027 Sand Castle Rd 2/2 $575K, 693 Rabbit Rd 3/2 $579K, 2521 Key Lime Pl 3/2 $599K, 1357 Jamaica Dr 2/3 duplex $650K, 1521 Wilton Ln 3/2 $784.5K, 4791 Rue Helene 3/2 $875K, 1106 Buttonwood Ln 3/2 $1.2M, 4166 Dingman Dr 4/4 $2.9M, 772 Birdie View Pt 3/3.5 $1.395M, 1035 Kings Crown Dr 4/3 $1.7495M, 1191 Bird Ln 5/4.5 $7.9M.

5 price changes: 667 Spartina Ct 3/2 now $619,555; 5299 Ladyfinger Lake Rd 3/3 now $648K; 1656 Middle Gulf Dr 3/4 now $990K; 5403 Shearwater Dr 4/3 now $1.195M; 2939 Wulfert Rd 5/5/2 now $1.349M.

9 new sales: 915 Palm St 3/2 listed at $475K, 3273 Twin Lakes Ln 3/2 listed at $825K, 3358 Saint Kilda Rd 3/3 listed at $979K, 932 Whelk Dr 3/3 listed at $1.224M, 899 Almas Ct 3/2 listed at $1.249M, 2441 Wulfert Rd 4/4.5 listed at $1.295M, 2190 Starfish Ln 3/3 listed at $1.395M, 1525 San Carlos Bay Dr 3/2 listed at $1.675M, 267 Ferry Landing Dr 3/2 listed at $1.795M.

1 closed sale: 4775 Rue Helene 4/3 $737.5K.

LOTS

1 new listings: 2987 Wulfert Rd $450K.

No price changes.

1 new sale: 1311 Par View Dr listed at $274K.

1 closed sale: 461 Lake Murex Cir $325K. 

Captiva

CONDOS

No new listings.

1 price change: Sunset Captiva #302 4/3 now $2.895M.

2 new sales: Tennis Villas #3210 1/1 listed at $300K, Lands End Village #1657 2/2 listed at $1.095M

1 closed sale: Lands End Village #1660 3/3 $1.5375M.

HOMES

2 new listings: 11526 Laika Ln 4/4 duplex $1.749M, 16814 Captiva Dr 5/5.5 $8.2M.

2 price changes: 16163 Captiva Dr 3/2 now $2.795M, 16447 Captiva Dr 6/5/2 now $3.599M.

No new or closed sales.

LOTS

Nothing to report.

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

Santa on Beach

Wishing You & Your Family A Happy Holiday Weekend!

Elise for The SanibelSusan Team

 

Pre-Holiday Happenings on Sanibel


It’s been a week of wonderful, though chilly, island weather. We’ve had the heat on in the office for a few days and been wearing sweaters, while those here on vacation continue to pedal and jog by in their shorts and tee-shirts. Forecasts say that it will be back up into the 60’s by tomorrow, with temperatures expected to creep up into the high 70’s again by early next week.

Sanibel & Captiva Islands Association of Realtors®

Sanibel realtors logoIt was standing room only yesterday at the Association of Realtors® December Membership Meeting followed by east-end Caravan. A big crowd always comes when we have a speaker from the City of Sanibel. This year, it was Senior Planner, Roy Gibson. His short power-point covered three documents and followed with questions/answers.

  1. The Sanibel Report – An early history of the island, the Sanibel Plan is a scientific document published in 1976. It’s probably best known as an environmental assessment of Sanibel, a natural systems study, if you will. It is no longer in publication, but it provided the scientific foundation of the areas that today are known as the island ecological zones.
  2. The Sanibel Plan – Developed in 1975 (after City incorporation in late 1974), this is a living document accessible at the City website, www.mySanibel.com. It contains the vision statement for the island, describing how Sanibel is 1st a Sanctuary, 2nd a Community, and 3rd an Attraction. It provides the zoning maps and provides the regulatory framework for the City including its goals, objectives, and policies.
  3. The Sanibel Code – This is the document most often used by the Planning Department and island Realtors®. It’s the operations guide for the City. (We all got a chuckle out of Roy’s pop quiz to guess the weight of the printed document (which is 10.1 lbs). The lucky answerer got their own copy of the Code.) I have a hard-copy in my office too, but it’s much easier to read it on-line. The Sanibel Code contains the City Charter which describes how the City is governed and the Land Development Code. It’s that development code that comes into play in real estate transactions. There is a link to the Code on www.mySanibel.com.

No Realtor® Caravan next Thursday, but the every-Thursday-morning schedule begins again on Dec 28 with a West Caravan.

New Eats

  • Dante’s Coal-Fired Pizza – recently opened at The Sanibel Inn. With locations in Fort Myers and Coral, Dante’s is not new to SW Florida. They will have on-line ordering soon at www.DantesCoalFiredPizza.com
  • Lighthouse Café – will again be serving dinner starting today through April.
  • Farmers Market – begins on Captiva next Tues, Dec 19 and will be every Tuesday from 9 a.m. to 1 p.m. through April 3, at the entrance to South Seas Resort.

Conflict Over Vacation Rental Rights Brewing

Florida Realtors logoInteresting to see an article from Fort Myers Beach posted on line at FloridaRealtors®. This one on Dec 12, 2018 is credited to Laura Ruane, Journal Media Group. Sanibel already has a monthly-minimum on rental homes in residential communities.

“Homeowners have a right to live in peace, free of a steady stream of noisy interlopers, says Doris Grant, Fort Myers Beach resident.

“Government should respect owners’ rights and keep excessive laws off private property, says Joe Tekulve, an Ohio resident with a beach vacation home.

“It’s a battle of rights as some people ponder whether short-term vacation rentals should be more closely regulated, in particular by local governments.

“Two Lee County municipalities took up the matter recently. And, state lawmakers are expected to once again weigh in on short-term rental regulations in the upcoming session.

“Vacation rentals of fewer than 30 days are big business and growing: The Florida Department of Business & Professional Regulation estimates the number of state-licensed, short-term rental units grew from 117,000 in 2012 to 131,000 in 2016. That growth may be vastly understated in this era of online platforms helping hospitality rookies rent out their spare bedrooms or entire homes.

“But as Airbnb, HomeAway, VRBO and others began marketing vacation rentals in less-commercial areas, complaints poured in from year-round residents. They say their neighborhoods are suffering from a revolving door of short-term renters – guests who sometimes thoughtlessly disturb the peace and character of a place.

“Multiple issues – Bad behavior by renters isn’t the only issue. Area hoteliers and property managers say the competitive field no longer is level when owners of homes and condos can rent out the dwellings for a day or two or more – and yet can ignore health and safety measures, tax remittance and other rules without penalty.

“In 2011, the Florida Legislature adopted measures prohibiting municipalities from regulating vacation rentals – unless they already had such laws in place. Florida was still working its way out of the Great Recession, so sympathy was high for property owners trying to earn a few bucks – and perhaps even avert foreclosure.

“At the same time, though, private equity firms were buying homes in foreclosure for pennies on the dollar, and turning some of them into vacation rentals. In some areas, rentals became dominant and operated like hotels, although often poorly managed.

“In 2014, the Legislature passed a bill “giving cities back the authority to regulate vacation rentals. But they could not regulate the duration of these rentals,” said Casey Cook, senior lobbyist with Florida League of Cities. Cook’s organization favors “home rule,” meaning municipalities decide what level of regulation is right for their residents.

“Last spring, a push championed by Sen. Greg Steube in the Legislature collapsed. That bill would have pre-empted local regulation of vacation rentals – other than existing laws grandfathered-in. However, the topic is far from dead: Two Senate Community Affairs Committee workshops in October took testimony on how to best regulate short-term rentals, and who should do it.

“When contacted in early November, a staffer in Steube’s Tallahassee office wouldn’t rule out the possibility another vacation rental bill could surface next year. Florida’s Senate will convene Jan. 9.

“Numerous Florida cities – including Miami Beach, Fort Lauderdale, Boca Raton and Hollywood – have tried to address the issues surrounding short-term rentals regulation. Locally, a rentals ordinance failed to pass muster with Cape Coral City Council. The town of Fort Myers Beach is still weighing its options.

In October, Cape Coral City Council rejected a short-term rentals ordinance that would have required property registrations, a city business license, inspections and the naming of a local contact for emergency purposes. The vote came following a second public hearing at which realty companies, local landlords and Airbnb hosts spoke against the measure.

“Cape Coral’s land-use regulations already prohibit renting to guests for periods of fewer than seven days, but they are not enforced. Host Compliance Software, which monitors short-term rental host agencies, estimated the city has more than 3,100 vacation rentals. This would include an unknown number that rent by the night, contrary to city law. Analysis by the city, which compared that group of rentals with the number of state-registered Cape short-term rentals, showed more than 2,000 are not registered with the state, as required. “We have a compliance issue with thousands of illegally operating short-term rentals in Cape Coral,” said Michael Ilczyszyn, assistant city manager.”

Sanibel & Captiva Multiple Listing Service Activity December 8-15, 2017

Sanibel

CONDOS

8 new listings: Blind Pass #D101 2/2 $439K, White Caps South #5 1/1 $569K, Blind Pass #B209 3/2.5 $584.5K, Sundial West #J207 2/2 $695K, Sandalfoot #3C1 2/2 $749K, Sanibel Inn #3535 2/2 $765K, Sandpiper Beach #302 2/2 $850K, By-The-Sea #9 3/2 $1.749M.

2 price changes: Blind Pass #A205 2/2 now $418.9K, Snug Harbor #211 2/2 now $769K.

6 new sales: Colonnades #C3 1/1 listed at $225K, Sanibel Arms #F2 1/1 listed at $499.9K, Loggerhead Cay #153 2/2 listed at $919.9K, Shorewood #2B 3/3 listed at $1.568M. Captains Walk #B5 2/1 listed at $349K, Captains Walk #A8 2/2 listed at $349K.

2 closed sales: Sunset South #1C 2/2 $665K, Shell Island Beach Club #7B 2/2 $785K (our Buyer).

IMG_2463

Boardwalk to beach at Shell Island Beach Club

HOMES

11 new listings: 1357 Jamaica Dr 2/3 $650K, 2005 Mitzi Ln 2/2 $543.5K, 9446 Yucca Ct 3/2 $545K, 3043 Poinciana Cir 4/2 $575K, 1425 Causey Ct 4/3 $779K, 3323 Twin Lakes Ln 3/3 $829K, 335 East Gulf Dr 3/2 $1.095M, 2464 Blind Pass Ct 3/2 $1.3M, 1052 Whisperwood Way 3/3 $1.499M, 3615 West Gulf Dr 3/2 $2.995M, 1077 Bird Ln 4/5/2 $5.995M.

7 price changes: 1004 Spanish Laurel Ln 2/2 now $598K, 1710 Sand Pebble Way 3/2 now $629K, 5430 Osprey Ct 3/3 now $799K, 1183 Kittiwake Cir 3/2 now $799.9K, 1391 Jamaica Dr 4/3 now $1.349M, 6412 Pine Ave 3/2.5 now $1.245M, 794 Conch Ct 3/2.5 now $1.995M.

4 new sales: 5292 Umbrella Pool Rd 3/2 listed at $569K, 1317 Par View Dr 3/3 listed at $629K, 2030 Sunrise Cir 3/3 listed at $649K, 1149 Paper Fig Ct 4/3 listed at $2.245M.

2 closed sales: 981 Sand Castle Rd 3/2.5 $480K, 714 Durion Ct 3/2 $585K.

LOTS

3 new listings: 555 Piedmont Rd $219,555; 5627 Baltusrol Ct $410K; 602 Boulder Dr $459K.

No price changes or new sales.

3 closed sales: 2501 Wulfert Rd $175K, 1299 Par View Dr $227K, 1415 Sanderling Cir $879.5K.

 Captiva

CONDOS

Nothing to report.

HOMES

2 new listings: 11541 Wightman Ln 3/3 $2.175M, 16151 Captiva Dr 4/3 multi-family $7.9M.

No price changes, new, or closed sales.

LOTS

1 new listing: 15295 Captiva Dr $899K.

No price changes, new, or closed sales.

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

Have a great weekend!

Elise for The SanibelSusan Team