Sanibel Island Birds & Baby Alligators & More

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

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

New Sanibel Photos

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

Local Fishermen & Divers Will Love This One

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

Donax Street Cell Tower To Be Erected Early Next Year

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

Planning Ahead to July 4th

  • 9:30 a.m. – 22nd Annual Independence Day Parade – from the corner of Island Inn Road/Tarpon Bay Road to the corner of Periwinkle Way/Casa Ybel Road. This year’s theme is “Sanibel Island is #1″, referring to its recent ranking as a vacation destination.
  • Noon – Optimist Club Road Rally With Theme “Rallying for Island Youth” – beginning at Timbers Restaurant parking lot. Registration is a $35 donation per vehicle. Points are awarded for elapsed time closest to a secret pre-established circuit time and distance, and for correct answers to a series of questions about clues along the rally route. Top rally finishers and the best decorated vehicle win prizes. Registration forms are available online at www.sancapoptimist.org. (For those wondering about this event, SanibelSusan tried it for the first time last year. It was a lot of fun. It helps to have a careful driver, a navigator to read the questions, and an observant crew. Island knowledge is not necessary.)
  • 6 to 9 p.m. – Fireworks Night at The Dunes – with pool party, games for the kids, putting competition, food, & more.

Value of “For Sale” Signs

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

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

Wetlands 101: A Property-Buyers Guide

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

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

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

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

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

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

 
Sanibel
CONDOS
No new listings.
7 price changes: Captains Walk #A3 1/1 now $163K, Tennisplace #C35 2/1.5 now $249K, White Caps #5 1/1 now $525K, Yacht Haven #2 3/2 now $819K, Compass Point #141 3/2 now $899K (our listing), Gulfside Place #117 2/2 now $950K.
3 new sales: Loggerhead Cay #152 2/2 listed for $690K, Seashells #37 2/2 listed for $274K (our listing), Shorewood #2C 3/2 listed for $889K.
6 closed sales: Sundial #F407 1/1 $275K, Sanibel Arms West #J1 2/2 $392.5K, Mariner Pointe #131 3/2 $495K, Sundial #Q402 2/2 $550K, Kings Crown #211 3/2 $575K, Nutmeg Village #108 2/2 $750K.  
 
HOMES
2 new listings: 1216 Par View Dr 3/2 $699K; 494 Surf Sound Ct 5/2.5 $899,555.
1 price change: 2294 Wulfert Rd 4/4 now $998K.
5 new sales: 1621 Sand Castle Rd 3/2 half-duplex listed for $389K, 1574 Sand Castle Rd 3/2 listed for $549K, 760 Birdie View Pt 4/3.5 listed for $849K (short sale), 1290 Bay Dr 3/2 listed for $1.595M, 1069 Bird Ln 4/3.5 listed for $2.75M.
8 closed sales:  458 Lake Murex Cir 3/2 $380K; 1433 Jamaica Dr 5/4 duplex $400K; 9003 Mockingbird 5/4 $480K (short sale); 480 Peachtree Rd 3/3 $502.5K; 4210 Old Banyan Way 3/2 $511,250; 1208 Harbour Cottage Ct 3/3 half-duplex $600K, 1308 Tahiti Dr 3/3 $650K, 5063 Joewood Dr 4/5.5 $3.05M. 
 
LOTS
1 new listings:  925 Whelk Dr $875K.
No price changes, new or closed sales.
 
Captiva
CONDOS
No new listings.
3 price changes:  Bayside Villas:  #4106 1/2 now $295K, #5124 1/2 now $309K, #4322 3/3 now $507K (short sale).
No new sales.
1 closed sale:  Captiva Shores #5D 2/2 $725K.
 
HOMES
No new listings.
2 price changes:  11516 Andy Rosse Ln 6/6 now $1.999M, 11530 Paige Ct 4/4.5 now $3.495M.
1 new sale:  with contingencies:  16849 Captiva Dr listed for $2.195M.
1 closed sale :  16585 Captiva Dr 5/4/2 $2.025M (short sale).

LOTS
Nothing to report.

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

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

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

Memorial Holiday Week

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

“The SanibelScoop with Captiva Chatter”

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

Education Boardwalk Update

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

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

Rare Smalltooth Sawfish

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

Sanibel Bear

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

Florida Perceived as Having a Competitive Business Tax

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

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

Federal Flood Insurance Program Gets 60-Day Extension

An AP article posted yesterday says:

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

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

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

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

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

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

Sanibel

CONDOS

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

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

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

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

HOMES

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

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

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

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

LOTS

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

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

No new or closed sales.

Captiva

CONDOS

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

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

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

HOMES

No new listings.

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

No price changes or new sales.

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

LOTS

Nothing to report.

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

Ready for Memorial Day Weekend on Sanibel & Captiva Islands

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Realtor® Fundraiser

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

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

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

‘Tween Waters Inn Joins National Register of Historic Places

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

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

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

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

County to Pay for Blind Pass Dredging Project

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

Florida Realtors® President in Spain With the Governor

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

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

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

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

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

Flood Insurance Moves in Congress

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

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

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

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

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

Citizens’ Hurricane Mitigation Inspections Pick Up

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

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

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

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

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

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

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

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

Florida’s Housing Market Continues Positive Signs in April 2012

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

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

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

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

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

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

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

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

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

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

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

Sanibel

CONDOS

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

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

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

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

HOMES

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

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

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

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

LOTS

No new listings or price changes.

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

No closed sales.

Captiva

CONDOS

No new listings.

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

No new sales.

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

HOMES

No new listings.

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

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

No closed sales.

LOTS

Nothing to report.

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

 

HAPPY MEMORIAL DAY!

Spring Turns Quickly to Summer on Sanibel & Captiva Islands

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

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Realtor Rally to Protect the American Dream

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

Vacation Homes Beckon

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

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

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

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

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

What Should a Seller Know

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

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

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

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

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

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


Sanibel & Captiva MLS Activity May 11-18:

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

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

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

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

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

LOTS
Nothing to report.

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

Families Love Sanibel & Captiva Islands

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

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

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

Happy Mothers’ Day weekend to all!

Family-Friendly Destination

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

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

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

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

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

Summer Happenings for the Kiddos

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

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

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

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

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

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

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

Florida in Top Five for Home Price Appreciation

An article posted on Florida Realtors® today, says:

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

Sanibel & Captiva Multiple Listing Service Activity May 4-11

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

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

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

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

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

LOTS
Nothing to report.

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

The Islands Are Flowering Every Month, Including May

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

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

No Realtor® Caravan This Week

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

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

Visit CROW’s New Visitor Center

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

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

Is Florida’s Shadow Inventory a Rebound Threat?

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

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

Update on Citizens (Wind) Property Insurance

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

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

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

 
Sanibel
CONDOS
2 new listings: Sealoft Village #106 2/2 $559K, Compass Point #203 2/2 $599K.
10 price changes: Lighthouse Point #217 3/2 now $339K, Blind Pass #C110 2/2 now $399.9K, Sea Pines #D 3/3 now $469K, Sundial #I103 1/1 now $485K, Sea Pines #E 3/3 now $579K, Pelicans Roost #104 2/2 now $599.8K, Heron at The Sanctuary III #1B 3/2.5 now $615K, Heron at The Sanctuary II #2A 2/2.5 now $619K, Compass Point #181 2/3 now $997K, High Tide #B202 2/2 now $1.447.5M.
7 new sales: Sundial #B207 1/1 listed for $299K, Lighthouse Point #332 2/2 listed for $474K (our listing), Kings Crown #211 3/2 listed for $599K, Sand Pointe #132 2/2 listed for $599K, Tarpon Beach #101 2/2 listed for $619K, Tarpon Beach #104 2/2 listed for $679K, Nutmeg Village #108 2/2 listed for $795K.
11 closed sales: Seashells #29 2/2 $300K, Blind Pass #G201 2/2 $334K, Sundial #B402 1/1 $340K, Sundial #H402 2/2 $430K, Sanibel Arms West #J3 2/2 $400K, Sanibel Arms West #L6 2/2 $425K, Sealoft Village #108 2/2 $483K, Sand Pointe #211 2/2 $559.5K, Oceans Reach #1C1 2/2 $722.6K, Atrium #105 2/2 $945K, Junonia #301 3/2 $1.5M.
 
HOMES
6 new listings: 1649 Sand Castle Rd 3/2.5 half-duplex $415K; 2166 Egret Cir 3/2 $559,555; 740 Durion Ct 3/2 $599K; 673 East Rocks Dr 3/2 $629K; 1230 Par View Dr 3/2.5 $749,999; 919 Almas Ct 3/2.5 $1,199,999.
10 price changes: 1663 Bunting Ln 3/2 now $344K (short sale), 1702 Sand Pebble Way 3/2.5 now $399K, 490 Elizabeth Rd 2/2 now $413K, 940 S Yachtsman Dr 3/2.5 now $569K, 1271 Sand Castle Rd 3/2.5 now $609K, 1339 Par View Dr 3/2 now $667.5K, 1516 Angel Dr 3/2 now $899K, 5427 Osprey Ct 3/3.5 now $1.195M, 660 Anchor Dr 4/4 now $1.925M, 780 Birdie View Pt 5/4.5 now $1,999,999.
7 new sales: 1433 Jamaica Dr 5/4 duplex listed for $439K, 4210 Old Banyan Way 3/2 listed for $595K, 1208 Harbour Cottage Ct 3/3 half-duplex listed for $699K, 862 Beach Rd 3/2 listed for $999K, 1690 Sabal Palm Dr 4/3 listed for $1.595M, 5391 Shearwater Dr 3/3.5 listed for $1.649M, 3864 West Gulf Dr 4/5.5 listed for $2.188M.
6 closed sales: 1430 Sandpiper Cir 3/3 half-duplex $406K, 237 Daniel Dr 3/2 $522K, 2624 Coconut Dr 2/1 $656.7K, 1234 Seagrape Ln 3/2 $679K, 1537 Sand Castle Rd 4/3 $740K, 836 Sand Dollar Dr 3/2/2 $1.025M.
 
LOTS
No new listings.
4 price changes: 9211 Dimmick Dr now $137,555; 1894 Farm Trl now $283,555; 4636 Rue Royale now $659K; 6401 Pine Ave now $699K.
1 new sales: 1120 Olga Ave listed for $299K (our listing).
1 closed sale:  4077 Coquina Dr $215K.
 
Captiva
CONDOS
1 new listing: Gulf Beach Villas #2128 3/2 $895K.
1 price change: Captiva Bay Villas #D 3/3.5 now $2.995M.
No new sales.
1 closed sale: Lands End Village #1610 3/3 $1.8M.
 
HOMES
No new listings.
1 price change: 11490 Dickey Ln 3/2 now $849K.
No new or closed sales.
 
LOTS

Nothing to report.

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

Finishing Up a Busy April on Sanibel & Captiva Islands

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I am back from my week on the Ruby Princess and The SanibelSusan Team is busy – so much for thinking that the few weeks after Easter were going to be slow this year. The report below of the Multiple Listing Service action this week confirms that the islands are active.

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Dave and Lisa spent time yesterday at both our listing on Beach Road, accompanying a showing, and our listing on North Yachtsman Drive, which closed this morning. Posted above are a few photos that they snapped during those trips. Talk about glorious weather. For the past several days, the humidity has been under 40%, days in the low 80’s, and evening temperatures down into the high 50’s. Best April weather that I recall in my 20 years here!

When I attended a closing at Barrier Island Title this morning, the girls there remarked that they are staying late most evenings to stay up with the workload, with most of the incoming contracts being cash and quick closings (our favorite kind).

I just made a call to Island Condo Management for an update on some condominium documents and they said that they also are busy – their busiest April in years. Wow, let’s hope this continues. Maybe the buyers have gotten the word that the tide is turning on Sanibel and Captiva!

Here are a few news items, followed by the MLS report for the week:

75th Sanibel Shell Fair and Show

For those who were just hopping off a cruise ship last weekend – or otherwise busy – if you missed the CBS news segment on Sunday morning about Sanibel shelling, here is a link: http://www.cbsnews.com/video/watch/?id=7406198n&tag=contentMain;contentBody

Piping To Be Replaced in The Dunes Subdivision

I noticed an article in the “Island Sun” that said that Island Water Association, Inc. started working in The Dunes last week to replace the piping in that subdivision. Construction operations will take place on the north side of the subdivision between Albatross Road and The Dunes Clubhouse, starting near the clubhouse. The dates for other streets will be announced as construction progresses. To get more info, call 239-472-1502.

Final Farmer’s Market of the Season This Weekend

Can you believe that it has been four years since two island residents, Jean Baer and Betsy Ventura, brought the first farmer’s market to Sanibel? Offering vegetables, fruit, breads, flowers, plants, meats, seafood, sauces, dips, cheeses, jams, honey, treats, meals, and much more, the number of vendors varies each week from 30 to 40, including repeat and new vendors each year. The Sanibel Farmer’s Market operates each Sunday from 8 a.m. to 1 p.m., from November to April at City Hall on Dunlop Road. The last one for this season is this weekend. We will miss them and already are looking forward to their return in November.

SanibelSusan’s Golden Rules for Dealing With Technology

Here's our office

As an old dog, always willing to learn a few news tricks, I try to embrace technology so that my business stays ahead of the curve. Thank goodness son Dave is a computer guru. He usually kicks and screams when we suggest social media; while the girls in the office, Elise, Lisa, and I enjoy the connectivity that this new technology brings. The changes that keep us connected today and improve our communication – from iPhones, iPads, texting, and the many features of Facebook, LinkedIn – remind me there are some rules that should not be forgotten. A recent article posted in the YPN (Young Professionals Network) Lounge at the National Association of Realtors® site concurs. (I like to read about what those Young Professionals are saying so I stay young too!)

Here are the three golden technology rules you can always count on from The SanibelSusan Team.

1) The client we are with is always our top priority. We do not use technology when we are in clients’ presence unless it is for them. We respect our clients, so you will not find The SanibelSusan Team reading messages, posting e-mails or texts, or handling routine business calls while we are with you.

2) We use technology for its intended use, not to do our dirty work. When a verbal communication can best relay a message, you will get a “real” phone call. When the written word is necessary to record an event, you will get that.

3) Grammar and spelling are important. My team knows that this is one of my pet peeves. They call me the boss with the “red pen”. If we think the correct use of hyphens is important, imagine how important it is that we “dot the i’s and cross the t’s” correctly in our contract work for you. Technology may provide us with better connectivity, but we will remain details-oriented.

Embracing technology is essential to today’s real estate arena; however, basic good manners and professionalism always will prevail when you work with The SanibelSusan Team.

Tarpon Tournament Update

The deadline to register for the “Ding” Darling & Doc Ford’s Tarpon Tournament is May 1st and 35 teams have already signed up. The tournament takes place on May 4th and 5th at Doc Ford’s Rum Bar & Grille on Fort Myers Beach and will benefit wildlife research and education at the refuge and will also benefit tarpon by rewarding participating anglers who perform DNA scrubs on their catches for genetics research before releasing them.

Mina Hemingway, former Sanibel resident, avid fisher, and granddaughter of Ernest Hemingway has joined the tournament. She will be flying in from Bozeman, Montana to fish with Sanibel Island Fishing Club members Rol Campbell (SanibelSusan’s neighbor), Tom Butcher and Charlie Sobczak (island Realtor® and author) aboard Charlie’s boat “Nine Lives”.

Celebrity author Randy Wayne White and TV fishing personalities captains Ozzie Fischer and Ozzie Lessinger also are listed among the teams signed up for the catch-and release tournament. White, a former Sanibel fishing guide, also will preside over a “Kangaroo Court” during the awards ceremony that follows the tournament.

Did you know that this fishing tradition began in 1885 with the first tarpon ever caught on rod-and-reel right here at the “Ding” Darling Refuge in Tarpon Bay? Some islanders have even delayed their return trips to their northland homes, so that they can fish in the tournament this year. Good luck, Bruce!

Interested fishing teams can resister at www.dingdarlingtarpontourney.com or by calling 239-472-1100 ext. 4. 

March Pending Home Sales Rise, Market Recovering

Here is a “positive” press release issued yesterday:

“Pending home sales increased in March and are well above a year ago, another signal the housing market is recovering, according to the NAR (National Association of Realtors®).

The Pending Home Sales Index,* a forward-looking indicator based on contract signings, rose 4.1% to 101.4 in March from an upwardly revised 97.4 in February and is 12.8% above March 2011 when it was 89.9.  The data reflects contracts but not closings.

“The index is now at the highest level since April 2010 when it reached 111.3.

“Lawrence Yun, NAR chief economist, said 2012 is expected to be a year of recovery for housing.  “First quarter sales closings were the highest first quarter sales in five years.  The latest contract signing activity suggests the second quarter will be equally good,” he said. “The housing market has clearly turned the corner.  Rising sales are bringing down inventory and creating much more balanced conditions around the county, which means home prices will be rising in more areas as the year progresses,” Yun said.

The PHSI in the Northeast slipped 0.8% to 78.2 in March but is 21.1% above March 2011.  In the Midwest the index declined 0.9% to 93.3 but is 16.9% higher than a year ago.  Pending home sales in the South rose 5.9% to an index of 114.1 in March and are 10.6% above March 2011.  In the West the index increased 8.7% in March to 108.0 and is 9.0% above a year ago.

“The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1 million members involved in all aspects of the residential and commercial real estate industries.

“*The Pending Home Sales Index is a leading indicator for the housing sector, based on pending sales of existing homes. A sale is listed as pending when the contract has been signed but the transaction has not closed, though the sale usually is finalized within one or two months of signing. The index is based on a large national sample, typically representing about 20% of transactions for existing-home sales.  In developing the model for the index, it was demonstrated that the level of monthly sales-contract activity parallels the level of closed existing-home sales in the following two months. An index of 100 is equal to the average level of contract activity during 2001, which was the first year to be examined as well as the first of five consecutive record years for existing-home sales; it coincides with a level that is historically healthy.

“Information about NAR is available at www.realtor.org. News releases are posted in the website’s “News and Commentary” tab.  Statistical data in this release, as well as other tables and surveys, are posted in the “Research and Statistics” tab of www.realtor.org.

“REALTOR® is a registered collective membership mark which may be used only by real estate professionals who are members of the NATIONAL ASSOCIATION OF REALTORS® and subscribe to its strict Code of Ethics.  Not all real estate agents are REALTORS®.  All REALTORS® are members of NAR.”

Sanibel & Captiva MLS Activity April 20-27

 
Sanibel
CONDOS
4 new listings: Blind Pass #B101 2/2 $449K, Pointe Santo #C24 1/1 $459K, Shell Island Beach Club #7A 2/2 $710K, Seascape #302 3/3.5 $1.349M.
2 price changes: Seawind #A103 2/2.5 now $450K, Sea Pines #D 3/3 now $489K.
3 new sales: Snug Harbor #311 2/2 listed for $459K, Tarpon Beach #104 2/2 listed for $679K, Sundial #T207 2/2 listed for $849K.
5 closed sales: Island Beach Club #320F 2/2 $410K, Sandalfoot #3D1 2/2 $430K, Sandalfoot #4C2 2/2 $455K, Kings Crown #104 2/2 $565K, Gulfside Place #116 3/3 $1.505M.
 
HOMES
4 new listings: 1415 Sandpiper Cir 2/2 half-duplex $329K, 960/964 Palm St 3/3 $379.9K, 1536 Bunting Ln 3/2 $442.5K, 1574 Sand Castle Rd 3/2 $549K.
10 price changes: 966 Fitzhugh St 2/1 now $337K; 1610 Sabal Sands Rd 3/2 now $489.9K; 1339 Par View Dr 3/2 now $670.5K; 4996 Joewood Dr now $760K; 4960 Joewood Dr 4/3 now $769.9K; 1807 Buckthorn Ln 3/2.5 now $779.9K; 4781 Tradewinds Dr 3/2 now $1.695M; 553 Lighthouse Way 4/4 now $1.795M; 1232 Isabel Dr 3/3 now $1,999,999; 568 Lighthouse Way 4/4.5 now $2.4M.
2 new sales: 5230 Caloosa End Ln 4/3 listed for $996K, 2564 Wulfert Rd 5/5 listed for $2.298.5M.
6 closed sales: 555 Chert Ct 3/2 $350K, 525 Lake Murex Cir 3/2.5 $467.5K, 1284 Par View Dr 2/2 $516K, 542 North Yachtsman Dr 2/2 $630K (our listing & sale), 3061 Poinciana Cir 3/2 $650K, 1331 Sand Castle Rd 3/2.5 $725K.
 
LOTS
2 new listings: 412 Tiree Cir $375,555; Island Inn Rd $1,350,555.
1 price change: 568 Lighthouse Way now $1.3M.
No new sales.
2 closed sales:  1594 Century Ct $129.9K, 1299 Par View Dr $187K.
 
Captiva
CONDOS
No new listings or price changes.
4 new sales: Beach Villas #2516 1/1 listed for $449K; Beach Villas #2517 1/1 listed for $499,950; Captiva Shores #5D 2/2 listed for $768.8K; Beach Homes #13 3/3 listed for $2.475M.
2 closed sales: Captiva Shores #6B 2/2 $675K, Lands End Village #1628 3/3 $1.55M.
 
HOMES
No new listings, price changes, or new sales.
1 closed sale: 16185 Captiva Dr 4/4 $1.2M.
 
LOTS
Nothing to report.
This representation is based in whole or in part on data supplied by the Sanibel & Captiva Islands Association of Realtors or its Multiple Listing Service. Neither the association nor its MLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or its MLS may not reflect all real estate activity in the market. The information provided represents the general real estate activity in the community and does not imply that SanibelSusan Realty Associates is participating or participated in these transactions. If your property currently is listed with another broker, this is not intended as a solicitation of that listing.


From the Caribbean to Sanibel Island

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While SanibelSusan has been vacationing in the Caribbean this week aboard the Ruby Princess, the rest of the SanibelSusan Team – Dave, Elise, and Lisa – have been busy getting a couple of our listings sold. Sure wish I had known that it would take going out of town to make that happen. Maybe I should do it more often.
 
The blog today is coming a day late and via satellite as the ship is returning to Ft Lauderdale from Grand Turk. The internet service is sketchy at best so it is terrific to have the team to rely on.  This week, in addition to going to a home inspection, accompanying showings, making appointments, and putting properties under contract, the team has been working on an 3000+piece mailing.  We are looking for more “home” listings. Well-priced Sanibel homes continues to be the product that is moving best!
  

Earth Day

This weekend, JN “Ding” Darling Refuge will celebrate the 42nd anniversary of Earth Day in partnership with Ding Darling Wildlife Society-Friends of the Refuge and Tarpon Bay Explorers.  They will have activities for all ages.  For more information on Earth Day at the Refuge visit www.dingdarlingsociety.org.
 

Snowy Plovers on Hatchday

On Monday, April 23rd, the San-Cap Conservation Foundation will celebrate 10 years of protecting Sanibel’s nesting snowy plovers on island beaches.  All are invited to the party on the porch at the SCCF Nature Center.  There will be a Hatchday cake and refreshments.  You can even “adopt-a-plover” to support the program.  In addition, attendees can take part in a raffle drawing for the “Plover Twins” etched vase by Luc Century. 
  

Sanibel & Captiva MLS Activity April 13-20:

Sanibel
CONDOS
No new listings.
6 price changes:  Sundial #C110 1/1 now $299K, Seawind #104 2/2.5 now $464.9K, Cyprina Beach #9 3/2.5 now $599K, Kings Crown #313 2/2 now $649K, Yacht Haven #2 3/2 now $829.9K, Seascape #105 3/3 now $1.995M.
7 new sales:  Colonnades #C55 1/1 listed for $169K, Tennisplace #A26 2/1.5 listed for $325K, Blind Pass #G201 2/2 listed for $349K, Sanibel Arms #C1 2/2 listed for $408K, Cottage Colony West #138 1/1 listed for $559K, Sandalfoot #1C2 2/2 listed for $598K, Tarpon Beach #301 2/2 listed for $749K. 
4 closed sales:  Ibis at The Sanctuary #301 2/2 $350K, Sundial #0201 2/2 $447K, Sandalfoot #3C3 2/2 $509K, Sanibel Surfside #234 2/2 $600K.
 
HOMES
3 new listings:  2134 Egret Cir 3/2 half-duplex $399K, 1203 Isabel Dr 2/3 $1.495M, 1525 San Carlos Bay Dr 3/2 $2.195M.
10 price changes:  1854 Farm Trl 3/2 now $610K, 1477 Albatross Rd 4/3 now $624.5K, 1350 Tahiti Dr 3/2 now $629K, 1233 Middle Gulf Dr 3/2 now $675.9K, 5864 Pine Tree Dr 3/3.5 now $829K, 916 Beach Rd 4/3 now $899K (our listing), 2749 Wulfert Rd 3/3.5 now $995K, 2969 Wulfert Rd 6/6/2 now $2.999M, 1310 Seaspray Ln 5/4.5 now $3.395M, 3705 West Gulf Dr 5/5/2 now $3.75M.
4 new sales: 458 Lake Murex Cir 3/2 listed for $399K, 2210 Camino Del Mar 3/2 listed for $539K, 542 N Yachtsman Dr 2/2 listed for $699K (our listing), 3401 West Gulf Dr 4/4.5 listed for $4.788M.
4 closed sales:  280 Southwinds Dr 3/3.5 $505K, 1240 Middle Gulf Dr 3/2 $711K, 654 Kinzie Island Ct 6/4/2 $1.94M, 3805 West Gulf Dr 4/4.5 $4.013M.
 
LOTS
1 new listing:  455 Ponce De Leon Rd $190K. 
No price changes.
1 new sale: 555 Piedmont Rd listed for $149K (our listing).
No closed sales. 
 
Captiva
CONDOS
No new listings.
1 price change:  Marina Villas #603 2/2 now $520K.
2 new sales:  Marina Villas #901 2/2 listed for $495K, Bayside Viilas 3/3 listed for $599K.
3 closed sales:  Marina Villas #610 2/2 $507.5K, Bayside Villas #4319 3/3 $505K, Beach Homes #15 4/3 $1.9M.
 
HOMES
No new listings.
1 price change:  53 Sandpiper Ct 2/2.5 now $669K.
2 new sales: 11521 Wightman Ln 4/3 listed for $1.549M, 16730 Captiva Dr 5/4.5 listed for $4.95M.
1 closed sale:  28 Urchin Ct 2/2 $745K.
 
 
LOTS
Nothing to report.

Waiting for Spring Showers on Sanibel & Captiva Islands

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Osprey nest in Sanibel Highlands

We are officially in the “almost” off-season with island traffic getting lighter by the day all week. The ride from the office to the toll bridge is back to15-20 minutes, rather than the hour plus that it sometimes takes in February and March. Though a couple of the New England states have visitors arriving for spring breaks, a few slow business weeks are expected until schools are out for the summer and those longer vacations begin.

Dave and I were out looking at a house in Sanibel Highlands this week & noticed the above osprey nest. Look closely and you can see the bird. There is lots of activity in these nests this time of the year. Fun to watch!

SanibelSusan had lunch yesterday with a pal who runs the rental division at VIP Vacation Rentals and he told me that they are ahead of their 2011 bookings for May and into the summer (probably thanks again to Frommer’s high rating), but he concurred that the rest of April is expected to be fairly quiet. 

Here are a few island news items, followed by the week’s Multiple Listing Service activity.

Captiva Nominated for Restored Beaches Award

Photo of Captiva beach from Sanibel & Captiva Islands Multiple Listing Service.

In celebration of the Best Restored Beaches Award’s 10th anniversary in 2012, the American Shore and Beach Preservation Association (ASBPA) is requesting your votes to help them identify the Best of the Best Restored Beaches. Captiva is among the nominees in the category – Community Beaches. You may vote once per day between now and Friday, April 27, on-line at www.asbpa.org. Voters may also leave a comment about what makes their favorite beach so special to them.

Shell Museum Now in Reciprocal Membership Program

Along with The Bailey-Matthews Shell Museum announcing its recent inclusion into the North American Reciprocal Museums Program, the museum now also announces its participation in the Southeastern Reciprocal Membership Program (SERM). This means if you join the museum at the $50 level or above, you automatically become a member of SERM which entitles you to free admission as well as program, lecture, and store discounts and other benefits at nearly 100 museums in 15 states. Some of the participating Florida institutions include Art Center Sarasota, Orlando Museum of Art, and Tampa Museum of Art. To see a list of participating museums, visit the membership page at www.shellmuseum.org.

3rd Annual Shell Museum Oyster Eating Contest

Team from Doc Ford's Restaurant with author Randy Wayne White at the 2011 Oyster-Eating Contest with our pal, Cindy Porter, who made a grand entrance & then gave it a noble try. (That's Laurie in the back on the stilts.)

In other Shell Museum news, a fundraiser for them is coming up on Saturday, April 21, from 11 a.m. to 2 p.m. at The Timbers Restaurant and Fish Market. Although the contest is the main attraction, the event includes food and drinks from The Timbers, plus shell crafting, face painting for the kids, and a raffle for a Lily & Co. watch. Last year, there were 23 contestants with the winner downing four dozen oysters. For sponsorships or to participate as a contestant, go to www.shellmuseum.org.

U.S. Visa Programs

There was a good article in the new FloridaRealtors® magazine this month that covered some of the same information that I learned when I was in Orlando in January attending the meeting of our state Resort and Second Home Specialist Forum. Important info for those expanding into the international real estate market and worth sharing:

“Understand U.S. Visa Programs

“Since one of the issues facing international buyers is the amount of time they can spend in Florida, it’s important to understand current and pending U.S. visa programs. In general, U.S. Citizenship and Immigration Services (USCIS) encourages foreign visitation and foreign investment, but imposes strict rules and requirements that vary from country to country….look at the USCIS website, uscis.gov, or …speak with an immigration attorney.

“In recent years, many international investors have taken advantage of the EB-5 visa program, which is designed to stimulate the U.S. economy through job creation and capital investment. A foreign national who invests $1 million directly into a business that creates at least 20 jobs or invests $500,000 in a regional center that creates new jobs can get a green card and become a permanent U.S. resident.

“The U.S. Congress is now considering the VISIT-USA Act, which is designed to make it easier for some foreign nationals to obtain visas. Called Visa Improvements to Stimulate International Tourism to the United States of America (S.1746), the act has several important provisions including:

“Home purchases.  The bill creates a nonimmigrant visa, renewable every three years, for an individual who spends at least $500,000 to purchase single-family homes in the United States. At least $250,000 must be spent on a primary residence where the visa holder will reside for at least 180 days out of the year while paying taxes to the U.S.

Canadian tourism. A new “Canadian retiree visa” (nonimmigrant visa) would be created that would last 240 days and be renewable every three years for Canadians over age 50 who have visited the United States or own a U.S. residence.

Premium visa process.  Visitors could pay a higher visa-processing fee in order to receive a visa interview within three business days, reducing long wait times in countries like Brazil and China.

Videoconference pilot program. A secure videoconferencing pilot program would be authorized for conducting visa interviews, making it easier for applicants to obtain a U.S. visa. Currently, an in-person interview is required.”

Sanibel & Captiva Multiple Listing Service Activity April 6-13:

Deeded beach access path for Sanibel River Estates

 
Sanibel

CONDOS
3 new listings: Captains Walk #D5 2/1 $224.9K, Tennisplace #B32 2/1 $254K, Spanish Cay #F6 1/1 $299K.
3 price changes: Blind Pass #D205 2/2 now $296.5K, Lighthouse Point #217 3/2 now $349K, Ibis at The Sanctuary #A102 2/2 now $399K.
6 new sales: Sundial #G207 1/1 listed for $245.9K, Mariner Pointe #1043 2/2 listed for $299.9K (our listing), Tarpon Beach #308 2/2 listed for $615K, Kings Crown #215 2/2 listed for $669.9K, Sayana #202 2/2 listed for $849K, Sundial #K208 2/2 listed for $890K.
3 closed sales: Sundial #C204 1/1 $250K, Mariner Pointe #142 2/2 $380K, Sundial #T403 2/2 $485K.
 
HOMES
3 new listings: 744 Martha’s Ln 2/2 $459K, 591 Boulder Dr 4/3 $629K, 1274 Par View Dr 3/3 $674K.
5 price changes: 9440 Begonia Ct 3/2 now $499.9K, 1507 Angel Dr 3/2 now $699K, 1244 Par View Dr 4/3 now $858.9K, 1102 Harbour Cottage Ct 3/2 now $1.384M, 1520 Angel Dr 3/3 now $1.598M.
5 new sales: 3812 Coquina Dr 3/2 listed for $425K, 1429 Jamaica Dr 4/3 listed for $495K, 1750 Dixie Beach Blvd 3/2.5 listed for $549K (short sale), 4570 Bowen Bayou Rd 2/2 listed for $699K, 4630 Rue Bayou 4/4.5 listed for $1.249M.
3 closed sales: 661 Cardium St 2/1.5 $325K, 733 Durion Ct 3/2 $550K, 927 Limpet Dr 3/3 $645K (foreclosure).
 
LOTS
1 new listing: 218 Violet Dr $579,975.
3 new sales: 2418 Blue Crab Ct listed for $164.9K, 4077 Coquina Dr listed for $224.9K, 2251 Starfish Ln listed for $339K.
No new sales.
1 closed sale:  2423 Blue Crab Ct $220K.
 
Captiva
CONDOS
No new listings, price changes, or new sales.
2 closed sales: Tennis Villas #3219 1/1 $210K, Sunset Beach Villas #2323 1/1 $414K.
 
HOMES
1 new listing: 15172 Wiles Dr 14/10 mulit-family $10.9M.
4 price changes: 11521 Wightman Ln 4/3 now $1.549M, 11523 Wightman Ln 4/4 now $1.565M, 15009 Binder Dr 4/5.5 now $3.695M, 15747 Captiva Dr 5/6.5 now $7.995M.
No new or closed sales.
 
LOTS
Nothing to report.

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

Easter Week on Sanibel & Captiva Islands

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SanibelSusan Realty had a busy week with good showing activity on our listings until yesterday when the phones nearly stopped ringing. Even our Realtor Caravan Meeting early that morning had poor attendance. Only three new listings were on the tour, which usually has 15 properties

Our pals at other local real estate offices report the same. Folks must be busy traveling or with holiday plans – almost feels like it usually is here two weeks after Easter, rather than the week before. Season has wound down quickly.

Below are a few island news items, followed by the Multiple Listing Service postings this week on Sanibel and Captiva Islands.

Though the islands are winding down from a busy winter season, for those who like to visit during the “best” time, we locals say that is during May and October, when the traffic is light and the weather is perfect! Make your reservations now. Or better yet, come to buy!

Quick Weather Update

This morning brought our first good shower in what seems like months. Much needed rain that hopefully will green things up and keep the dust down on those sandy island roads. The weather forecast through the end of next week is for mostly sunny days with temperature in the low 80’s.

Easter Weekend Happenings

  • Spring Festival at Sanibel Community Park – tomorrow (Sat April 7) from 10 a.m. to 1 p.m., right across the street from SanibelSusan Realty. This annual event is presented by The Children’s Education Center of the Islands.
  • Easter Egg Hunt at Sanibel Community Church – at 1740 Periwinkle Way, next to Jerry’s Market, also tomorrow (Sat) from 11 a.m. to 1 p.m. It’s for children ages three years through 5th grade.
  • Sunrise Service on the Causeway – 6:30 a.m. Easter Sunday, bring your lawn chair. Many island churches have posted special holiday services too. You can find full schedules on the “Island Sun” newspaper on-line at www.islandsunnews.com
  • Easter Egg Hunt at Island Inn – at 3111 West Gulf Drive, on Easter Sunday beginning at 11 a.m. on the south side of the front office building, and will end once all 500 eggs are found. As the first inn on Sanibel, Island Inn has hosted families for Easter since 1895 and the tradition continues. Open to all children, 12 and under, the hunt also includes three golden eggs with special prizes inside. Miss Silvia also will be on hand to do complimentary face painting for children. www.IslandInnSanibel.com

Taxing Issues

Recent prospective buyers asked about the differences between annual and season rentals. According to local lingo, annual rentals are usually for a year, while a seasonal rental is for a period of less than six months. The April issue of FloridaRealtor® magazine contains the following article about the taxing obligations of owners of these investment-type properties:

“Will state sales tax need to be collected and paid on short-term rentals?

“The situation: A homeowner has two properties in Florida: a single-family home and a condominium. He wants to rent out one or both of them, but is unsure whether or not he’ll be required to collect and pay state sales tax.

“That depends on how many months of the year the property is rented, says the Florida Realtors® Legal Hotline. Generally the rental of residential property, such as a single-family home or condominium, is exempt from taxation. This exemption applies when there is a bona fide, written lease agreement that is for longer than six months. If the lease agreement is written for six months or less, the rental is considered a transient accommodation and is subject to sales tax. If there is no bona fide, written lease agreement, the rental is also considered a transient accommodation, and the first six months of continuous occupancy is subject to sales tax. Exemptions exist for rentals to migrants in labor camps, to certain military personnel and to full-time students.

“The state sales tax rate is 6% and many counties impose a sales tax surcharge as well. The tax is due on rental charges or room rates paid for the right to use or occupy living or sleeping accommodations.  Rental charges include any amount imposed for the use of items or services required to be paid as a condition of the use or possession of the accommodation.

“In addition, most Florida counties impose a local tax on short-term residential rentals. Contact the Florida Department of Revenue (DOR) or your local county taxing agency to determine whether your county has a short-term rental tax and, if so, how it should be reported and paid.

“If you’re the owner of a rental that’s considered a transient accommodation or if you’re a real estate licensee who collects or receives rent on behalf of the owner for a rental that’s considered a transient accommodation, you must register with the DOR before you begin your activities; otherwise, you may be subject to penalties.

“For more information regarding the sales tax on transient accommodations and procedures for registering with the DOR, contact the agency at (800) 352-3671 or www.myflorida.com/dor ”

(In Lee County, a Tourist Development Tax of 5% also is imposed on rentals for a period of less than six months. That brings the total tax up to 11%. Get more info on the Sanibel and Captiva local County tax at www.leeclerk.org )

Coastal Zone Protection Change Benefits Resorts

Sanibel City Council on Tuesday passed an ordinance amending the coastal zone protection section of the Sanibel Plan that allows resort accessory uses such as swimming pools to be repaired or replaced in their existing location and size even when they are entirely or partly beyond the coastal construction setback line (CCSL). This was the final piece in a long process to allow Sanibel’s aging resorts and hotels to modernize and remain attractive to tourists without losing amenities or units. Those built years ago do not conform to stricter regulations enacted after Sanibel incorporated. Council policy is that short-term accommodations are crucial to the island’s tourism-based economy. This proviso regarding replacement is only valid if there is no other site available and it does not allow for new development beyond the CCSL.

Springtime & Baby Birds

A client forwarded the below links. They are web cams to two bird nests posted by Cornell University’s Lab of Ornithology. One is a red-tail hawk and the other a blue heron. With eggs in both nests, it is fun to check them periodically to see these spring happenings.

Lots of Sanibel bird nests already have young in them too.

Next we will see the beaches marked with the nests of our local shore birds. Photo above was taken on Sanibel’s east-end last May. It is a snowy plover mom with three babies following behind her.

http://www.allaboutbirds.org/page.aspx?pid=2422   Link to red tail hawk nest cam

http://www.allaboutbirds.org/page.aspx?pid=2433   Link to blue heron nest cam

Sanibel & Captiva Multiple Listing Service Activity March 30 – April 6

Sanibel
CONDOS
4 new listings: Tennisplace #C31 2/1.5 $279K, Sandpebble #1F 2/2 $356K, Spanish Cay #A6 1/1 $289.6K, Sanctuary Heron III #1B 3/2.5 $624K.
3 price changes: Colonnades #12 1/1 now $159.5K, Tarpon Beach #308 2/2 now $615K, Oceans Reach #2D2 2/2 now $760K.
7 new sales: Sanibel Shores #E 2/2 listed for $279K; Sundial #F408 1/1 listed for $299K; Sanibel Arms West #J1 2/2 listed for $439K, #J3 2/2 listed for $459K, & #L6 2/2 listed for $469K; Sundial #Q402 2/2 listed for $599K & #T404 2/2 listed for $669K.
5 closed sales: Sundial #B301 1/1 $269K, Sanibel Arms #G2 1/1 $395K, Sanibel Inn #3534 2/2 $450K, Pine Cove #303 2/2 $880K, Plantation Village #B122 3/3 $1.7M.
 
HOMES
3 new listings: 1297 Par View Dr 3/2 $799K, 1555 San Carlos Bay Dr 2/2.5 $999K, 829 Tulip Ln 5/4.5 $2.495M.
10 price changes: 2066 Wild Lime Dr 2/1 now $349.9K, 458 Lake Murex Cir 3/2 now $399K, 1429 Jamaica Dr 4/3 now $495K, 9454 Calla Ct 3/2 now $597K, 9319 Kincaid Ct 3/2 now $599K, 1271 Sand Castle Rd 3/2.5 now $629K, 228 Hurricane Ln 3/2.5 now $725K, 4518 Bowen Bayou Rd 4/4 now $759K, 1244 Par View Dr 4/3 now $868.9K, 4701 Rue Belle Mer 4/4 now $2.365M. 
2 new sales: 1417 Causey Ct 3/2 listed for $544K, 1308 Tahiti Dr 3/3 listed for $699K.
5 closed sales: 1427 Sandpiper Cir 2/2 half-duplex $300K, 535 Piedmont Rd 3/2 $347.5K, 565 East Rocks Dr 3/2 $429K, 207 Daniel Dr 3/2 $541.75K, 9020 Mockingbird Dr 3/2 $687K.
 
LOTS
1 new listing: 3037 Poinciana Cir $239.5K.
4 price changes: 4077 Coquina Dr now $224.9K, 9042 Mockingbird Dr now $329K, 2263 Starfish Ln now $549K, 2299 Starfish Ln now $599K.
2 new sales: 1326 Junonia St listed for $279K, 2423 Blue Crab Ct listed for $329.9K.
3 closed sales: 2285 Wulfert Rd 150K, 604 Boulder Dr $250K, 0 Camino Del Mar $310K (our sale).
 
Captiva
CONDOS
2 new listings: Marina Villas #903 2/2 $620K, Lands End #1602 2/2 $1.28M.
No price changes.
1 new sale: Lands End Village #1628 3/3 listed for $1.675M.
1 closed sale: Seabreeze #1251 3/3 $1.48M.
 
HOMES
1 new listing: 15166 Wiles Dr 3/2 $3.895M.
2 price changes: 11521 Laika Ln 3/3 now $1.399M, 11515 Murmond Ln 2/3 now $1.749M.
2 new sales: 1 Sunset Captiva Ln 2/2.5 listed for $1.495M, 16585 Captiva Dr 5/4/2 listed for $2.3M (short sale).
No closed sales.
 
LOTS
Nothing to report.
 

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

 

 

Happy Easter from The SanibelSusan Team!