Wondering About Sanibel/Captiva Real Estate?


Happy Friday the 13th from SanibelSusan. It has been a very quiet week on the islands. Last weekend, when I manned the office, it was fun to write and negotiate an offer. Those are the best kind of surprises, particularly when it’s a sight-unseen purchase. That sale was one of the few posted in the Sanibel & Captiva Islands Multiple Listing Service (MLS) this week, actually the only Sanibel condo sale. Details of all the action posted since last Friday are after a few news items below.

Gulf & Bay Waters Around Sanibel & Captiva

Last weekend, the aftermath of Dorian created a little havoc with red drift algae washing up on some Sanibel beaches (mostly east-end) and creating a bit of a stink. Or the thought was that rotting algae was the cause of the smell.

After complaints, the City brought in equipment and started cleaning up the algae at Lighthouse Beach. Click on the link below to see the drone aerials taken for the City on Tuesday morning. If you pan onto the beach near the “green roof” on the south side at Lighthouse beach, you will see the equipment and workers then, removing the algae. https://cityofsanibel.s3.amazonaws.com/LH9-10-19/index.html?fbclid=IwAR3DSv2s_4RWlDscmsk_zRVIhkolOVaUaKd-wfI9avKwWn4WVxL5FxdQTyQ

As follow-up, the City posted condition reports for several days on www.mySanibel.com about each of the island beaches. But, by Wednesday the beaches were all clear with the nasty odors gone. Some say that it could have been the offshore water itself that was creating the smell, from decayed material on the gulf floor that was stirred up during the hurricane. Mid-week, the wind had changed direction. That is when it all changed – a good example of how the beaches, like the shelling, can be different every day.

The picture below was posted today on the “Sanibel Island” Facebook page and described as in front of the Sanibel Inn at 10:15 a.m. this morning. The Sanibel Inn is at the end of Lindgren Blvd which is a continuation of Causeway Rd, so the photo is a good representation of what the east-end beach looks like. Thank you to Gina Frasca for sharing her photo.

2019-09-13 Sanibel Inn

Comparing water quality this summer to last year, this year there has been no evidence of red tide. Though the water level is high at Lake O, there have been no water releases this direction for many months. Fingers crossed that no more tropical storms come this way or that rains linger over the lake.

Peak hurricane time passed this week, as we remembered Hurricane Irma from two years ago. Now we look forward to November 30, when the 2019 hurricane season officially is over.

It has been bright sunny and warm here pretty much all week, but a few showers just began and are expected to occur off-&-on over the next few days as the tropical disturbance out in the Atlantic travels up the eastern seaboard.

76% of All Home Buyers Use Their Phones to Find Properties

REALTOR-Magazine_Logo_Wondering how real estate is done in today’s digital age? The below article by Information, Inc. was published last month by the National Association of Realtors®.

“CHICAGO – Buyers turn to mobile devices to find properties and connect with real estate agents. This puts increasing importance on real estate pros to make sure websites are mobile friendly and connecting to clients in the ways that they desire.

“The typical home buyer used a mobile device to search for properties online, looking at websites with photos, home listings, and information about the homebuying process, according to the newly released “Real Estate in a Digital Age 2019 Report” published by the National Association of Realtors® (NAR) that looks at technology use within transactions.

“Overall, 76% of all buyers say they found their home on a mobile device – and 17% said they found their agent on a mobile device. The younger the buyer, the more likely they are to use mobile searches. Eighty-one percent of older millennials, 80% of younger millennials, and 78% of Generation X found their home on a mobile device compared to 68% of younger baby boomers, the NAR report finds.

“Type of communication – Ninety-three percent of real estate pros surveyed said they prefer to communicate with clients through text messaging, phone calls (93%) and email (92%). The mediums were more popular than instant messaging (38%) and postal mail (27%).

“Websites – The website features respondents find most helpful are photos (87%), detailed information about properties (85%), floor plans (52%), virtual tours (46%) and real estate agent contact information (42%). Half or more of respondents also valued property listings, agent/staff profiles, customer reviews/testimonials, mortgage/financial calculators and information on the home buying and selling process.

“Additional report findings:

“Social media: Real estate pros cited social media as the top tool for generating high-quality leads (47%), followed by Multiple Listing Service websites (32%).The main reasons cited for using social media was to promote listings, help build and maintain relationships with existing clients, and a belief that they’re “expected” to have a presence on social media sites nowadays. The top social networks used by Realtors: Facebook (97%), LinkedIn (59%), Instagram (39%) and Twitter (33%).

“Drones: Twenty-nine percent of real estate pros have hired a professional to operate a drone for their business, and 5% personally use one. An additional 14% say they plan to use drones in the future to capture aerial pictures or videos of their listings.”

iBuyer Perspective: Not New and Not Much to Worry About

Florida Realtors logoHave you heard about iBuyers? We have not seen them on the islands, though I have had inquiries from them. Here is an article about them, posted this week on Florida Realtors®: Realtor Bill Lublin, lead author of e-Pro and Florida Realtors® convention speaker, says iBuying has nothing to do with tech. They’re “instant buyers,” and “we’ve had them for years.”

“ORLANDO, Fla. – Bill Lublin, a Realtor® from Pennsylvania, lead author of e-Pro and a speaker at last month’s Florida Realtors® Convention & Trade Expo, says iBuying has nothing to do with tech. “It’s an ‘instant buyer’ and we’ve had them for years,” Lublin said. “That’s not new.”

“The big difference between flippers and iBuyers is the type of homes they want to buy. Flippers often want a fixer-upper they can improve and sell for a profit. iBuyers, however, look for value-added flips, said Lublin. “They want livable houses. Polish-and-buff kinds of buyers – minimal repair amounts.”

“New iBuyers continue to come onto the market, but the biggest – Opendoor, Knock, Offerpad, Zillow Instant Offers and Redfin Now – are “fueled by cash,” Lublin said. “Opendoor, the first one, has $1.3 billion in equity raised; Zillow has a $7.1-billion market cap; Offerpad has $150M in equity; Knock has $60.5 million equity raised (Knock is slightly different – buying and selling you another one.) Redfin has an $18 billion market cap.”

“As corporations, the iBuying concept is new, and investors want to get in on the ground floor. That makes them less concerned about profitability for now – and more concerned about becoming one of the dominant iBuyers in the U.S.

“Other iBuyer differences, according to Lublin: People go to the iBuyers websites, fill out a form about their house, and request an offer. An inspection might be requested, but “It all starts with someone raising their hand and saying they want an offer on their house,” Lublin said.

“iBuyers use algorithms. They calculate upfront what they can pay, what they need to sell the home for, and what the cost of holding is. Like Zillow home price Zestimates, iBuyers use an AVM (Automated Valuation Models) to calculate a home’s value. “It’s an educated guess,” said Lublin. “AVMs don’t include the things that make sales, such as views, neighbor’s flowers, etc.”

“Each iBuyer company has targets. Offerpad, for example, targets homes valued from $200,000 to $400,000. “They don’t want to buy everything. They identify a sweet spot in their business model, and that’s the only thing they buy,” said Lublin. “Just like Realtors have a market niche, they’ll stray from it if a potential sale comes up – but when iBuyers stray, it hurts their bottom line.

“Observers who wonder how the iBuyers make money may find out that they don’t – or not much money. “They’re only marginally concerned with profitability,” said Lublin. “They have tons of money to go out and experiment with a new business model. Redfin says they weren’t profitable in their first 10 years, and they made the most amount of money from their IPO. Speed of growth fuels profit in the beginning. None of these companies is profitable so far, and that’s a competitive advantage.”

“iBuying may not debut in all markets. Cities like Philadelphia have an older housing stock, for example. iBuyers are more attracted to metros, such as many in Florida, with a newer housing stock that’s easier to value. iBuyers with secondary companies – Zillow’s mortgage company, for example – could also benefit via their related industries.

“While the iBuyer share of the market isn’t expected to get large – Morgan Stanley projects a 3% market share by 2030 – it still could potentially pick up a large numerical number of sales.”

Sanibel & Captiva Real Estate Scoop

Below is an update on the year-to-date sales posted in the islands MLS – first on Sanibel, then Captiva. It compares inventory today, sales year-to-date, sales over the last three years, and the sales during the market peak, 13 years ago, in 2006. Though averages, these statistics shows the market downturn from the water woes last summer. Even so, things are looking up!

 

 

Status as of 9/13

Sanibel
Condos Homes Lots
# Avg $ DOM # Avg $ DOM # Avg $ DOM
For sale 93 851,024 217 113 1,377,721 210 66 688,492 424
Under contract 6 652,816 204 20 1,097,970 146 3 311,166 782
Closed year-to-date 97 674,067 144 160 958,364 170 11 406,181 687
Sold in 2018 155 720,617 172 218 1,112,748 162 21 602,095 240
Sold in 2017 140 728,793 188 186 1,004,237 163 32 327,229 504
Sold in 2016 143 717,768 217 181 979,576 176 25 487,095 571
Sold in 2006 143 866,972 147 156 1,143,682 186 18 523,917 158

 

 

 

Status as of 9/13

Captiva
Condos Homes Lots
# Avg $ DOM # Avg $ DOM # Avg $ DOM
For sale 35 1,269,990 219 35 2,808,568 262 3 1,929,666 496
Under contract 4 806,725 443 1 2,400,000 637 0 N/A N/A
Closed year-to-date 19 1,047,894 337 14 2,984,325 288 0 N/A N/A
Sold in 2018 27 797,532 153 25 2,127,352 290 0 N/A N/A
Sold in 2017 34 671,551 261 22 2,457,023 394 2 2,312,500 1,005
Sold in 2016 22 873,636 314 27 3,195,000 284 2 3,150,000 365
Sold in 2006 21 1,362,476 180 10 2,307375 334 4 2,218,750 432

(Note: Average $ is average asking price for properties “For sale” and “Under contract”.)

Sanibel & Captiva Islands Multiple Listing Service Activity September 6 – 13, 2019

Sanibel

CONDOS

2 new listings: Heron at The Sanctuary #3B 3/2.5 $885K, Golden Beach #3 3/2.5 $1.499M.

1 price change: Sundial #H211 1/1 now $395K.

1 new sale: Sundial #I104 1/1 listed at $469K (our buyer).

Sundial West from I104

From Sundial I104 listing, showing central pool at Sundial Resort & looking toward the buildings of Sundial West.

1 closed sale: Seashells #12 2/2 $360K.

HOMES

1 new listing: 1954 Roseate Ln 3/2 $599K.

8 price changes: 401 Raintree Pl 3/1.5 now $475K, 5745 Pine Tree Dr 2/1 now $498K, 1401 Sandpiper Cir 3/2.5 half-duplex now $509.9K, 681 Rabbit Rd 3/2.5 now $549K, 5303 Umbrella Pool Rd 3/2.5 now $648K, 760 Cardium St 3/2 now $699.9K, 1010 Kings Crown Dr 3/3 now $1.095M, 2385 Wulfert Rd 4/5 now $1.199M.

2 new sales: 1203 Kittiwake Cir 3/2.5 listed at $539K, 725 Donax St 6/6 listed at $1.295M.

3 closed sales: 1520 Centre St 3/2 $409K, 1035 Blue Heron Dr 3/2 $1.42M, 852 Lindgren Blvd 3/3 $1.595M.

LOTS

No new listings.

1 price change: 1800 Woodring Rd now $2.595M.

No new or closed sales.

Captiva

CONDOS

2 new listings: Bayside Villas #5316 3/3 $660K, Beach Homes #30 4/4.5 $3.949M.

No price changes.

2 new sales: Sunset Beach Villas #2216 1/1 $519.9K, Gulf Beach Villas #2008 2/2 listed at $639K.

2 closed sales: Beach Villas #2436 3/2 $812.5K, Ventura Captiva #2A 3/3 $900K.

HOMES

1 new listing: 17041 Captiva Dr 2/2 $1.699M.

No price changes.

1 new sale: 15161 Wiles Dr 5/5.5 listed at $2.4M.

1 closed sale: 16801 Captiva Dr 3/3.5 $1.8M.

LOTS

Nothing to report.

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

Until next Friday, wishing you clear skies & sunny days!

36.

One of my favorite photos by our photographer Jim Anderson of JMA Photography. They are blue crested night herons. It reminds me of the ugly duckling story. Thanks for sharing, Jim!

Susan Andrews, aka SanibelSusan

It’s Another Happy Friday at SanibelSusan Realty


SanibelSusan here, with the first report in a long time of a cloudy Friday. Following a picture-perfect holiday weekend when the causeway and beaches were busy with families and vacationers, it has been a nice, though quiet week.

At SanibelSusan Realty Associates

Not as busy as we’d like it though at SanibelSusan Realty. Good weather often keeps phones from ringing, but our listings did get a few showings. teammate Dave accompanied a couple of home inspections, and I showed homes most of Wednesday, while yesterday following our Association of Realtors® meeting, Dave and Elise covered our Caravan Open House, I chaired a meeting at the Association office, we had a good closing, and then Dave was out showing condos too, including our new listing. This afternoon, Dave’s back to holding another Open House, while Elise’s weekly report of the action posted in the Sanibel and Captiva Islands Multiple Listing Service since last Friday follows a few news items below. You’ll probably notice, there was no real estate action on Captiva. That’s unusual.

We had a surprise visit this morning from a family here on vacation. They bought their home through us five years ago and it is always such a treat when we get an update from them. Dad Scott is a terrific photographer and follows my blog. It was great to get his reminder that I may always share the pictures he posts on-line. Their bay-front home has probably one of the most active osprey nests on the island and he said that the last of the three fledglings in the nest this year was hesitant to make its first flight. As a result, he got some terrific close-up shots before it finally used its wings. Thanks for sharing, Scott!

At the Sanibel & Captiva Islands Association of Realtors

SanCapAssnLogoThough attendance was light at our Association of Realtors® meeting yesterday, our new CEO was given a rousing applause. Bill Robinson who joined our Association in 2012 and been promoted to MLS Director and Chief Operating Officer, was announced as our new Chief Executive Officer, replacing Peggy Hummel who will retire at the end of August.

A handful of new sales were announced. I got a thank you for bringing the buyer for Anchor Pointe #C and I gave a thank you to the Realtor® bringing the buyer to Lighthouse Point #129. Just seven properties were on the Caravan that followed, including our new listing at The Sanctuary, Ibis #B102. (Photos of Ibis #B102 below.)

CEO’s Bill and Peggy both later participated in our Communications & Public Relations Committee meeting. Big props to Bill for getting my press release in the “Santiva-Chronicle” within hours of submission. Check out our June 1 progress report on this year’s “Association of Realtors® Working Together to Make A Difference” campaign at http://santivachronicle.com/Content/Business-News/Business/Article/Realtors-Members-Made-a-Difference-in-May/13/32/6604

Here Comes The Rainy Season

Sanibelcityseal logoThe rainy season finally is here, with occasional showers expected for a least the next seven days. Though we need the water, it’s always a bit of downer when clear bay and gulf waters get stirred up by storms. We also are always hoping that we don’t get too much rain or water quality can be affected.

To illustrate, Jim Szabo with SanCap Aerial Photography has been taking aerials of the island for many months. On Memorial Day, his Facebook posting next to a stunning post-card like photo, said “Our water around Sanibel is amazingly beautiful. I take weekly 360° interactive panoramic images exclusively for the City of Sanibel.” Then he described that the one posted was taken around 12:30 p.m. at 350 feet above the lighthouse using his airborne camera system.

His message further says, “The City of Sanibel does this to show the current conditions, good or bad, for almost the last year. Toward the end of June, we will be able to compare current conditions to a year ago. Big thanks to the City of Sanibel for doing this.”

His images can be seen at http://www.mysanibel.com/Departments/Natural-Resources/Protecting-Our-Water-Quality/Sanibel-H2O-Matters. Scroll down when you get to that page and you will see links to weekly panoramic aerials taken at Lighthouse Beach Park going back to June 28, 2016. (Check out the difference between early and late June last year, it’s amazing.) There also are some taken from Gulfside City Park, Blind Pass, Clam Bayou, and the Causeway.

20 Questions To Ask When Buying a Condo

Buying or selling, it’s good to be aware of these questions and how they apply to a property.This provided courtesy of FloridaRealtors®.

20 QUESTIONS WHEN BUYING A CONDO.jpg

Sanibel School Tops District on State Test

sanibel schoolMany of us wish we’d found Sanibel when our families were young. The Sanibel School is one of the reasons why.

As reported in this week’s “Islander”, “The Sanibel School was one of two schools in the district that had 97% of its third-grade students score a three or higher on the Florida Standards Assessment (FSA) English Language Arts test.” This is an increase from last year’s 94%. The state percentage was 58%, compared to 54% last year. This is the third year that students in the county have taken the FSA. Although the Sanibel School tied with Pine Island Elementary School, their overall score was highest at 325, compared to their 318.

Congratulations to The Sanibel School for focusing on lots of reading. The school has offered a reading roundup for kids who were struggling, by offering more reading time during the school day. F.I.S.H. also sponsored after school tutoring to any student needing extra help.

The local district ranked third out of 10 mega districts in the State of Florida based on this last English Language Arts test.

Shell Mueum to Hold Bunche Beach Clean-Up

bailey-mathews shell museum signThe Bailey-Matthews National Shell Museum will celebrate World Oceans Day on Wed, June 8 from 7 to 9 a.m. when museum staff and their Shell Ambassadors will hold a clean-up at Bunche Beach (at 18201 John Morris Rd). The public is invited to participate.

According to the Environmental Protection Agency, the U.S. uses 380 billion plastic bags per year and only 3% of that is recycled. This is the first time that the Museum has participated in World Oceans Day, but not the first time they have held a clean-up at Bunche Beach. It was selected instead of Sanibel because it seems to be more of a hotspot for trash and debris. If you can help with the clean-up, please register with Stefanie at SWolf@shellmuseum.org. Their tips for cutting down on plastic:

  • Use a reusable bag.
  • Use a reusable water bottle.
  • Say no to straws.
  • Bring your own containers for take-out/leftover food.
  • Stop chewing gum (it contains a molecule that is used in making plastic).
  • Shop local farmer’s markets.

Sanibel & Captiva Multiple Listing Service Activity May 26-June 2, 2017

Sanibel

CONDOS

2 new listings: Sanddollar #B301 2/2 $1.149M, Sanddollar #A303 3/2 $1.349M.

4 price changes: Loggerhead Cay #371 2/2 now $529K, Lighthouse Point #211 2/2 now $629K, Pine Cove #102 3/2 now $1.315M, High Tide #A102 3/2.5 now $1.495M.

No new sales.

5 closed sales: Sundial West #D403 1/1 $420K, Sunset South #10C 2/2 $725K, Beachcomber #A102 2/2 $1.25M (our listing), Tamarind #A102 2/2 $1.495M, Somerset #E202 3/2.5 $1.54M.

HOMES

3 new listings: 9409 Moonlight Dr 3/2.5 $599K, 9459 Begonia Ct 3/4 $649K, 5280 Umbrella Pool Rd 3/3 $729K.

5 price changes: 3008 Singing Wind Dr 2/2 now $449K; 1817 Atlanta Plaza Dr 3/2 now $449.9K; 1710 Sand Pebble Way 3/2 now $679K; 673 East Rocks Dr 3/2 now $768,885; 601 Sea Oats Dr 3/2 now $685K.

4 new sales: 986 Sand Castle Rd 3/3 half-duplex listed at $529K, 746 Cardium St 4/2 duplex listed at $729K, 1809 Bowmans Beach Rd 3/2 listed at $799.9K, 1475 Angel Dr 3/4.5 listed at $1.649M.

5 closed sales: 770 Donax St 2/2 $422.5K; 1747 Serenity Ln 3/2 $490,723; 1210 Par View Dr 4/2 $680K; 1028 Demere Ln 3/2 $892.5K; 2451 Blind Pass Ct 4/4.5 $1.81M.

LOTS

No new listings.

1 price change: 2998 Singing Wind Dr now $189K.

No new sales.

1 closed sale: 5121 Sanibel-Captiva Rd $180K.

Captiva

No activity 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 general real estate activity in the community and does not imply that SanibelSusan Realty Associates is participating or participated in these transactions.)

Until next Friday,happy friday

Susan Andrews, aka SanibelSusan