Easter Week on Sanibel & Captiva Islands

Posted on April 6, 2012 by SanibelSusan

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!

Sanibel & Captiva Islands Are Busy, Even Though Snowbirds Are Beginning to Fly Away

Posted on March 30, 2012 by SanibelSusan

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For those island lovers who also enjoy the work of our professional photographer, Jim Anderson, with JMA Photography. The above slide show is composed of photos from his last book “Sanibel & Captiva – Our Islands in The Sun”. Jim films all of SanibelSusan’s listings and prepares our streaming videos. See more of his work at www.DiscoverSanibelandCaptiva.com

What’s Happening on the Islands This Week

Beachfront at Pointe Santo

We now are into the two weeks that typically are the busiest on Sanibel and Captiva Islands (other than Christmas/New Years). Many accommodations have turn-overs tomorrow with full occupancy expected until Easter Sunday. That means that many Realtors® will be out scurrying tomorrow between 10 a.m. and 3 p.m. (when renters depart and before the new guests arrive). This time of the year that is often the only time that we can show investment-rental-type condos, photograph new listings and prepare inventories. Since tomorrow also happens to be the end of the month, there will be turn-over in rental homes too. Will make for a fun Saturday, as showings are best when properties are put back together, and cleaners are doing their magic during that short 5-hour window too. Just one of our local rental organizations has over 400 turn-overs tomorrow. Imagine the number of sheets and towels involved in that exercise!

SanibelSusan’s listing had good activity this week and I was out showing mostly homes yesterday and again today to some folks who have been following my blog for the last year. Love it when marketing works!

Controlled Fire Planned at The Refuge Tomorrow

Sometimes island visitors are surprised to see a fire at J. N. “Ding” Darling Wildlife Refuge and are not aware that a fire there may be willfully set. Notice was given this week that tomorrow, March 31 the Refuge will be conducting the 2nd controlled burn at the botanical site to reduce the likelihood of catastrophic fires and to help preserve the national ecology of the area. Purposefully setting and controlling fires can prevent wild land fires. This technique, often called, “prescribed fire” will reduce the amount of dried vegetation or potential fuel. Here’s a link to more info about controlled burns and a map of the prescribed fire area, http://www.dingdarlingsociety.org/article256.htm

Top Markets for International Home Buyers

An article posted in Daily Real Estate News this week spoke favorably of our local Southwest Florida area. It said in part: “Foreign buyers are being lured by the bargain prices in American real estate. So which markets are the most attractive to these international buyers? Florida continues to be the most popular destination among foreign home buyers, but other states are attracting more foreign interest as well. More than half – 58% – of international sales in 2011 came from these four states alone: Florida (31%), California (12%), Texas (9%), and Arizona (6%), according to National Association of Realtors® data. Inman News recently identified the individual markets where foreign buyers make up the biggest share of home buyers. Among the top markets to make the list:

Lakeland-Winter Haven, FL

Cape Coral-Fort Myers, FL

Orlando-Kissimmee-Sanford, FL

North Point-Bradenton-Sarasota, FL

Miami-Fort Lauderdale-Pompano Beach, FL

Phoenix-Mesa-Glendale, AZ

New York County, NY (Manhattan)

Honolulu, HI

“See which other real estate markets topped the list, along with more information about the study, at Inman News (http://www.inman.com/reports/global-buyers “10 Hot Spots for Global Homebuyers.”

Have Home Prices Finally Reached Bottom?

Last Friday’s Daily Real Estate News posted these predictions from HousingWire: ““Prices are bottoming now,” according to a Bank of America Merrill Lynch forecast, released this week. In the fall, the analysts had predicted home prices would drop by 8% from the second quarter of 2011 through the first quarter of 2013 — but now they’re revising that forecast, realizing the housing market is stabilizing faster than they originally thought. The analysts now predict that prices will remain flat for the next two years, as the excess foreclosure inventory is absorbed. They then expect to see a pickup in home prices by 2014. And in the long-term, they see a big rise in housing prices. From 2012 through 2020, analysts forecast a cumulative growth of 42% in home prices (at 4% on an annualized basis).”

Realtor® – Just to Set the Record Straight

It has always been a SanibelSusan pet peeve to hear the word Realtor® mispronounced. You have probably heard it too, when some folks say “Real-A-tor”. One of our local attorneys sometimes says it that way just to get my goat. The actual pronunciation is “Reel-tor”, like a fishing reel. Here is some other information that you also may not know about the word: Realtor® is not a job title and it does not identify the services provided or tasks performed by a licensee. Instead, Realtor® identifies a person’s status as a member of the local, state, and national associations and their commitment to conduct their business whether as a real estate agent, commercial broker, property manager, appraiser, or other real estate specialty, in accordance with the obligations of membership, abiding to the Realtor® Code of Ethics. The term is trademarked.

How Important Is the Kitchen

It is amazing how many times I have seen a Buyer turn away from a property because a kitchen is dated or not appealing. A recent article in our monthly Realtor® magazine listed “five low-cost kitchen redos that buyers will love.

“1. Hardware – Replacing cabinet hardware, such as handles, knobs, and hinges is quick. According to HouseLogic.com, an average kitchen is 200 square feet with 30 linear feet of cabinetry, which equates to about 40 handles and knobs. Averaging between $2 and $20 per knob or pull, a home owner can expect to spend from $80 to $800 for this enhancement.

2. Faucet – There are a myriad of options today in terms of height, spouts, pullout hoses, and folding necks, with quality faucets starting at around $200.

3. Lighting – Adding an LED under-cabinet light can have a dramatic effect for about $40.

4. Organization – Buyers today choose functionality over elaborate decoration, says Jamie Goldberg, a National Kitchen and Bath Association certified designer. Practical storage in the kitchen will go a long way. Over-the-door hooks, baskets in the pantry, drawer organizers, wall hooks for pots and pans, and stackable shelves for cabinets will add appeal, typically for less than $100.

5. Countertops – Laminate can mimic the contemporary look of granite at a significant discount. The cost for an average kitchen with 30 linear feet of laminate countertop is roughly $1,575; the same space in granite would be $2,400.”

Four Home Technologies for Energy Efficiency

Home owners may shave $200 to $400 off their energy bills annually while increasing the long-term value of their property, by employing these high-tech tips posted in Realtor® magazine, by The National Association of Home Builders:

“1. Automated HVAC Systems – Programmable thermostats can save consumers about $180 year in energy costs, according to Energy Star. Automated systems can be set to reduce consumption when residents are out and to create heating and cooling zones in a home – a guest bedroom, for instance, might not always need the same level of heat or cooling as the living room.

2. Water Heaters – Tank-less gas water heaters turn on when residents start using hot water and turn off when they’re done, which can reduce water heating cost up to 35% annually. Water heaters that have a timer can be programmed to turn off when the home owner is away.

3. Lighting – Automatic dimmers will adjust lighting based on the time of day, which is extremely beneficial for exterior lighting.

4. Blinds & Drapes – Automated blinds are an eco-savvy development in window treatments. Program shades to close during the hottest part of the day in summer and to let sun in during winter.”

Sanibel & Captiva Multiple Listing Service Activity March 23-30

Sanibel
CONDOS
No new listings.
11 price changes: Captains Walk #D3 1/1 now $140K, Sundial #C110 1/1 now $323.9K, Blind Pass #B102 2/2 now $389K, Snug Harbor #311 2/2 now $467K, Sunset South #1B 2/2 now $549K, Pelicans Roost #104 2/2 now $625K, Loggerhead Cay #121 2/2 now $725K, Sundial #T207 2/2 now $849K, White Pelican #111 2/2 now $1.045M, Compass Point #181 2/3 now $1.049M, Ferry Landing #1 2/2 now $1.295M.
5 new sales: Sundial #F408 1/1 listed for $299K, Sanibel Arms West #K3 2/2 listed for $399K, Sandalfoot #4C2 2/2 listed for $489K, Oceans Reach #1C1 2/2 listed for $775K, Atrium #105 2/2 listed for $990K.
4 closed sales: Tennisplace #C21 2/1.5 $228K (short sale), Blind Pass #B202 2/2 $340K, White Caps South #2 1/1 $450K, Pointe Santo #C35 3/2 $700K.

HOMES
8 new listings: 6138 Castaways Ln 3/2.5 $725K, 335 East Gulf Dr 3/2 $725K, 5650 SanCap Rd 2/2 $735K, 1662 Dixie Beach Blvd 3/2 $899K, 916 Beach Rd 4/3 $999K (our listing), 1690 Sabal Palm Dr 4/3 $1.595M, 5071 Joewood Dr 4/4.5 $4.25M, 3635 West Gulf Dr 4/4.5 $4.45M.
10 price changes: 984 Sand Castle Rd 4/3.5 half-duplex now $345K, 750 Nerita St 3/2 now $499K, 1417 Causey Ct 3/2 now $544K, 1339 Par View Dr 3/2 now $673.5K, 1366 Sand Castle Rd 3/2.5 now $689K, 1244 Par View Dr 4/3 now $878.9K, 2449 Harbour Ln 2/2 now $995K, 4630 Rue Bayou 4/4.5 now $1.249M, 6440 Pine Ave 3/3 now $1.9M, 4215 West Gulf Dr 4/4/2 now $4.899.9M.
5 new sales: 1086 Sand castle Rd 3/2 listed for $544K, 1731 Venus Dr 3/3 listed for $949K, 1570 Sand Castle Rd 4/3.5 listed for $899K (short sale), 5063 Joewood Dr 4/5.5 listed for $3.395M, 3401 West Gulf Dr 4/4.5 listed for $4.788M.
3 closed sales: 761 Nerita St 3/2 $410K, 3861 Coquina Dr 3/3 $695K, 1918 Woodring Rd 4/4 $2.3M (our sale).

LOTS
No new listings or price changes.
2 new sales: 2285 Wulfert Rd listed for $139K (short sale), 1594 Century Ct listed for $139.9K.
No closed sales.

Captiva
CONDOS
No new listings.
2 price changes: Bayside Villas #5338 3/3 now $599K, Lands End Village #1628 3/3 now $1.675M.
3 new sales: Bayside Villas #4322 3/3 listed for $510K (short sale), Captiva Shores #6B 2/2 listed for $699.9K, Beach Homes #32 3/2.5 listed for $1.695M.
1 closed sale: Captiva Hide-A-Way #1D 2/2 $480K.

HOMES
No new listings.
1 price change: 1121 Schefflera Ct 4/4.5 now $5.4M.
2 new sales: 15361 Captiva Dr 5/4 listed for $2.3M (short sale), 16238 Captiva Dr 5/4.5 listed for $3.999M.
1 closed sale: 15867 Captiva Dr 3/3.5 $3.25M.

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.

It’s Always “Green” on Sanibel & Captiva Islands

Posted on March 16, 2012 by SanibelSusan

All is well here on the islands with high season just flying by. It has been especially busy this week with the Lee County Schools on spring break, which added more day-trippers to the beaches, roadways and bike paths, and filled most of the remaining vacation rentals.

In addition to our continual green foliage from our tropical year-’round weather, we have floral evidence of “spring” too. The photo below was taken as I was coming out of The Bistro at Beachview after lunch on Wednesday. Bet it’s in full yellow bloom by tomorrow!

I was out showing condos this morning. Though 24 units matched the criteria of these prospective buyers, I was only able to show them four units – a definite indication that occupancy is up. Just two of the 24 had short vacancies. Listing agents were able to gain access to the other two by sweet-talking cooperative tenants.

Selling becomes difficult when you can only view a small sampling, and the buyers are leaving the next day. One of our toughest Realtor® tasks is convincing buyers to look early-on during their vacation or on tenant turn-over days. When that does not work out, we also recommend that investment-property buyers come back to view during the off-season when accessibility is easier. We even have been known to suggest making an offer conditional on a viewing. Some buyers think we are crazy when we give that advice, but most buyers do want to “see” what they are purchasing.

Thursday Realtor® Caravan Meeting

We had a little Realtor® kibitzing going on at our weekly meeting yesterday. It all began when only one sale was announced. That is not a good sign for mid-March. The consensus between companies was that although both January and February had good sales activity, so far this month is dragging. Comments ranged from “it’s already spring up north” to “it’s an election year” to “though lots of property is being shown and viewed, buyers remain tentative; most are going home without purchasing.” We hope that this just means that more sales will occur in the off-season.

Typically, we start to see the island thinning out April 1st. The early departures often are those who want to get back to their up north home in time to finish their income taxes. By April 15, or just after Easter, the islands usually are back to off-season activity.

What’s Happening at SanibelSusan Realty

It was a two-closing week for us. We like those, but interesting that our closing at Seashells was the only Sanibel condo sale reported. Five home sales closed, one being our listing at Seagull Estates.

This week, I also listed a wonderful 2-bedroom plus den (or 3-bedroom) condo, right on the beach at Compass Point. It was completely remodeled and professionally decorated in 2009 and is grossing nearly $60K annually as a weekly rental. The slide show photos below are courtesy of Island Vacations of Sanibel & Captiva Inc. who handles the rentals.

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Though we did not get any of our listings sold this week, we did put a near-beach lot under contract that was not listed for sale. First time that has happened. As the result of an Open House at one of our home listings, Lisa met folks who then considered other homes, but decided that building a new one is a better option for them. Though we then tried hard to get them interested in one of our lot listings, they ultimately decided that they want a parcel that was not on the market. So I tracked down and contacted the owners, and we were able to negotiate a sale. For statistic purposes, we will post it in our Multiple Listing Service when it closes in a couple of weeks.

Statistics on Sanibel & Captiva Sales as of March 16

Here’s an update of the current island inventory – condos, homes, and lots, and their sales this year. Historical info from 2011 and 2010 is also provided for reference. The amount of inventory remaining substantiates the number of price reductions that continue to be posted week-after-week. The report of the detailed activity in our Sanibel & Captiva Islands Multiple Listing System below shows 23 price reductions, compared to 11 new sales, over the past week.

Number Average Price $ Average Days on Market

Sanibel Condos:For Sale 253 636,827 399

Under Contract 31 651,177 455

Sold & Closed in:

2012 thru 3/16 26 652,680 278

2011 142 591,681 325

2010 120 608,545 381

Sanibel Homes:

For Sale 230 1,305,598 368

Under Contract 39 951,347 309

Sold & Closed in:

2012 thru 3/16 45 767,461 289

2011 179 826,130 369

2010 124 775,805 320

Sanibel Lots:

For Sale 104 543,024 816

Under Contract 3 299,933 415

Sold & Closed in:

2012 thru 3/16 6 762,167 208

2011 19 363,729 491

2010 21 336,905 484

Captiva Condos:

For Sale 67 774,308 389

Under Contract 4 1,072,250 738

Sold & Closed in:

2012 thru 3/16 4 640,375 543

2011 24 737,754 494

2010 25 696,159 312

Captiva Homes:

For Sale 57 3,428,474 596

Under Contract 7 2,331,429 482

Sold & Closed in:

2012 thru 3/16 8 1,413,125 613

2011 22 1,782,059 360

2010 10 2,258,250 357

Captiva Lots:

For Sale 10 1,810,800 1,074

Under Contract 0 N/A N/A

Sold & Closed in:

2012 thru 3/16 1 515,000 95

2011 1 485,000 580

2010 2 2,850,000 284

Fed Notes Better Economy, Takes No Policy Action

Here are some excerpts from an article posted mid-week by “The Associated Press”:

“The Federal Reserve sketched a more upbeat view of the economy Tuesday after a burst of hiring since its last meeting in January. It took no further steps to aid the recovery and repeated its plan to keep short-term interest rates near zero through 2014. After a one-day policy meeting, the Fed said unemployment should continue to decline gradually as the economy expands moderately. It also noted that consumer spending and business investment have picked up. And the Fed took a more hopeful view of Europe’s debt crisis. Though the crisis still threatens the global economy, the danger has eased, the Fed said.

“The policymakers cautioned that rising oil and gas prices will raise inflation temporarily. But they said longer-term inflation should remain stable – repeating a view expressed by Fed Chairman Ben Bernanke earlier this month….Since the Fed’s last meeting in late January, a stream of positive economic reports has suggested the economy is faring better than the Fed had expected.

“Employers added 734,000 jobs from December through February, the best three months of hiring in two years. The unemployment rate has declined to 8.3 percent. Consumers are more confident and have stepped up spending. Auto sales are rising. And the stock market keeps climbing.

“Despite the brightening prospects, unemployment remains historically high — something Bernanke mentioned in testimony to Congress last month, when he said, “The job market remains far from normal.”
Bernanke also said consumer spending and confidence remain less than healthy, inflation-adjusted pay gains are low and credit is still tight for many. As long as they are, Bernanke suggested, unemployment might not fall much further.

“Bernanke’s comments and remarks from other Fed officials suggest that the Fed plans to maintain its efforts to keep rates low to fuel growth. Low rates are intended to encourage consumers and businesses to borrow and spend more. Lower yields also lead some investors to shift money out of bonds and into stocks.

“Most economists don’t think the Fed will retreat anytime this year from its late-2014 target for any rate increase. Some note that threats to the economy remain from Europe’s debt crisis and the run-up in gasoline prices. Eventually, the Fed will feel compelled to raise rates to curb inflation as the economy heats up. But some analysts think the Fed is reluctant to signal an eventual shift toward higher rates before it’s close to a change. Signaling a change too soon might cause investors to push interest rates up before the Fed is sure the economic recovery will last.”

Sanibel & Captiva MLS Activity March 9-16

Sanibel
CONDOS
5 new listings: Sundial #B207 1/1 $299K, Signal Inn #2 1/1 $379K, Pointe Santo #C4 1/1 $497.9K, Compass Point #141 3/2 $999K (our listing), Compass Point #143 3/2 $1.095M.
6 price changes: Coquina Beach #5A 2/2 now $304K, Seawind #104 2/2.5 now $479K, Blind Pass #C203 3/2.5 now $499K, Loggerhead Cay #232 2/2 now $559K, Tarpon Beach #308 2/2 now $625K, Gulfside Place #117 2/2 now $970K.
4 new sales: Sandalfoot #4A3 2/2 listed for $529K, Sand Pointe #211 2/2 listed for $599K, Pointe Santo #C35 3/2 listed for $879K, Atrium #105 2/2 listed for $990K.
1 closed sale: Seashells #20 2/2 $325K (our listing)

HOMES
4 new listings: 1621 Sand Castle Rd 3/2 $446K; 4791 Rue Helene 3/2 $599,995; 4570 Bowen Bayou Rd 2/2 $699K, 926 Whelk Dr 4/3 $1.295M.
11 price changes: 531 Piedmont Rd 2/2 now $319K; 1433 Jamaica Dr 5/4 duplex now $439K; 533 Rabbit Rd 3/2 now $499.5K; 1400 Albatross Rd 3/3 now $535K; 1245 Anhinga Ln 3/2 now $549K; 1339 Par View Dr 3/2 now $681K; 4041 Coquina Dr 3/3 now $899K; 2308 Troon Ct 4/4 now $1.5M; 5427 Osprey Ct 3/3.5 now $1.272M; 2284 Troon Ct 4/4.5 now $1,999,999; 4717 Rue Belle Mer 3/3 now $2.195M.
5 new sales: 215 Robinwood Cir 3/2 listed for $639K, 9020 Mockingbird Dr 3/2 listed for $725K, 3861 Coquina Dr 3/3 listed for $729K, 440 East Gulf Dr 3/2 listed for $879K, 654 Kinzie Island Ct 6/4/2 listed for $2.295M.5 closed sales: 5745 Pine Tree Dr 2/1 $375K, 210 Daniel Dr 3/3 $549K (our listing), 1773 Bunting Ln 3/2 $520K, 1351 Middle Gulf Dr (Moonshadows) 3/3 half-duplex $635K, 881 Lindgren Blvd 3/2 $640K.

LOTS
2 new listings: 5170 Sea Bell Rd $179K, 201 Robinwood Cir $699K.
1 price change: 2494 Blind Pass Ct now $649K.
1 new sale: 2423 Blue Crab Ct listed for $329.9K.
1 closed sale: 761 Donax St $140K.

Captiva
CONDOS
No new listings.
2 price changes: Gulf Beach Villas #2111 2/2 now $595K, Beach Homes #32 3/2.5 now $1.695M.
1 new sale: Tennis Villas #3219 1/1 listed for $219K.
No closed sales.

HOMES
1 new listing: 59 Sandpiper Ct 3/2 $825K.
2 price changes: 16849 Captiva Dr 6/2/2 now $2.195M, 15631 Captiva Dr 5/4.5 now $2.85M.
No new or closed sales.

LOTS
No new listings.
1 price change: 11516 Wightman Ln now $699K.
No new sales.
1 closed sale: 11515 Gore Ln $515K.

Happy Saint Patrick’s Day tomorrow to all of our Irish friends, SanibelSusan

What’s Cookin’ This Week at SanibelSusan Realty

Posted on March 9, 2012 by SanibelSusan

Wow, dare I even say that it is yet another busy week on Sanibel and Captiva Islands. Though most island worker bees will be counting down the next four weeks and are looking forward to a breather after Easter, it sure is terrific when business is booming.

I ran out for lunch today and snagged the very last table at West Wind’s Inn’s Normandy Pub which is a local favorite since it always has a table (and quick service).

Someone must have put the word out on that place too. Wonder if Arthur Frommer is up to his tricks again and touting Sanibel to the world?

Dave, Lisa, and I were out showing several days this week, dealing with inspections, finishing up loose ends for closings, and writing offers, while Elise has been keeping the office on an even keel. We always like it when we have a closing and a new sale in the same week. Kudos to Lisa for bringing in the “big Sanibel sale” of the week. We have a couple of other things in the works too.

Realtor Caravan Meeting

Good sales activity during the last seven-day period was announced at our Realtor Meeting yesterday: On Sanibel, seven new condo sales and five homes. On Captiva, two homes. The 28 price reductions posted this week, however, indicate that the market continues to adjust.

For those wondering what kind of listings we have these days, the below slide show is a sampling. For more details, please click on the tabs above for a link to a page with more details about the individual listings.

This slideshow requires JavaScript.

Sanibel Public Library Earns Top Honors in National Study

The local library’s Winter Newsletter just arrived and announced that again the Sanibel Public Library has earned recognition by being named by The “Library Journal” as a 5-Star Library in its annual America’s Star Libraries 2011 survey. According to the article, the “Library Journal” Index of Public Library Service measures the service levels of 7,153 public libraries in the U.S. based on circulation, visits, internet use, and program attendance. This is the second year Sanibel’s library has been honored as a Star Library, and the first year as a 5-Star Library – the highest rating. In 2010, the Sanibel Public Library received a 3-Star rating. It is the only Florida library to be named a Star Library! The full report of star libraries is available.

Upcoming Events

There are so many special events coming up in the next few weeks that it is almost hard to keep track. It is easy to check the blog events calendar above if you will be here and are looking for things to do.

BIG ARTS Community Chorus reported Tuesday that our spring concert on March 27 already is sold out. There usually are a few no-shows on performance night, however, so those without tickets are advised to arrive early and get in line. It is going to be our best concert ever, with many special solos and instrumentalists, including guest horn players from the Big Apple who will be playing with us on a Manhattan Transfer medley. Every year this concert sells our earlier and earlier. Rumor has it that next year, we may have two performances.

If you like a more casual-style concert, be sure and catch our chorus when we join Island Jazz performing outside in the Boler Garden at BIG ARTS on Sunday, March 18, at 3 p.m. Just bring your lawn chair or blanket. I borrowed the photo to the left from the Island Jazz Facebook page. Check it out!

Sanibel & Captiva Multiple Listing Service Activity March 2 – 9

HOMES
1 new listing: 5296 Umbrella Pool Rd 4/2 $599K.
10 price changes: 2560 Coconut Dr 3/3 now $495K, 5841 Pine Tree Dr 3/2 now $495K, 1400 Albatross Rd 3/3 now $542K, 955 S Yachtsman Dr 3/2 now $559K, 4210 Old Banyan Way 3/2 now $637K, 561 Lake Murex Cir 3/2.5 now $649K, 960 S Yachtsman Dr 3/3 now $999K, 2981 Wulfert Rd 4/4.5 now $1.95M, 6211 Starling Way 4/4.5 now $1.995M, 1314 Isabel Dr 4/3.5 now $2.194M.
5 new sales: 661 Cardium St 2/1.5 listed for $364K; 927 Limpet Dr 3/3 listed for $674.9K (foreclosure); 231 Daniel Dr 3/2.5 listed for $789,987; 4809 Tradewinds Dr 3/3.5 listed for $1.495M, 1918 Woodring Rd 4/4 listed for $2.799M (our Buyer).
7 closed sales: 474 Surf Sound Ct 3/2 $425K (short sale), 3822 Coquina Dr 3/2 $420K, 1929 Sanibel Bayous Rd 4/3 $395K, 2555 Coconut Dr 3/2 $550K, 4775 Rue Helene 4/3 $687K, 244 Daniel Dr 3/3 $720K, 730 Birdie View Pt 3/2.5 $1.225M.

LOTS
1 new listing: 5044 Joewood Dr $499K.
1 price change: 1048 Fish Crow now $429K.
No new or closed sales.

Captiva
CONDOS
No new listings.
2 price changes: Tennis Villas #3120 1/1 now $215K, Captiva Shores #6B 2/2 now $699.9K.
No new or closed sales.

HOMES
No new listings.
2 price changes: 1 Sunset Captiva Ln 2/2.5 now $1.495M, 15891 Captiva Dr 5/4 now $3.149M.
2 new sales: 16185 Captiva Dr 4/4 listed for $1.299M, 15351 Captiva Dr listed for $2.895M.
1 closed sale: 15161 Wiles Dr 5/5.5 $2M.

LOTS
No new listings.
1 price change: 11517 Wightman Ln now $695K.
No new or closed sales.

Until next Friday, here’s to enjoying your March weather wherever you are.

On Sanibel & Captiva Islands, it came in like a lamb. TGIF SanibelSusan

It’s Shellabration 2012 on Sanibel & Captiva Islands

Posted on March 2, 2012 by SanibelSusan

It has been another busy week on Sanibel and Captiva Islands. With the Shell Fair in full swing today and again tomorrow, the islands are hopping.

How about this big junonia shell that is welcoming visitors to Sanibel’s Community House for the big event? It was made for the Guinness World-Record Sanibel Stoop which kicked off the multi-day festivities.

Being the 75th year of the Shell Fair and Show has brought many first time visitors to the islands. SanibelSusan Realty gladly again this year is one of the prize sponsors.

During the Shellebration 2012 Fashion Show at The Sanctuary on Monday, this hand-sewn wedding gown embellished with shells was the featured attraction and it won first prize too. Other fashions, all in shell motif, were on the runway during this first-time luncheon event. Even the bride’s flower girls had shells adorning them from their headpieces to their flip-flops.

With the extra traffic, we even saw a “long wait” for lunch yesterday at Doc Ford’s. That had not happened yet this year, but could be the norm from now until the end of high season in five weeks.

Speaking of Doc Ford’s, if you are on the island on Sunday or Monday, you can meet best-selling author Randy Wayne White who wrote the books about Doc Ford. He will be autographing copies of his latest book “Chasing Midnight!” at the Sanibel restaurant on March 4 and 5 and at Doc Ford’s Fort Myers Beach on March 22, from 12-2 p.m. and 4-6 p.m. on all three dates.

Sanibel and Captiva Real Estate Summary

On the real estate front, son David took the above photo during a home inspection on the bay on Wednesday. Sometimes the benefits of living and working on Sanibel are in the little events like this.

The good news about island real estate is that we finally are seeing more sales than new listings. As of today, there are 255 Sanibel condos for sale, with 22 sold/closed this year, and another 26 condos under contract awaiting closing. Average time on market is still well over a year. Average condo sale price to-date is $667,690 compared to last year at $591,861. Don’t read too much into that increase though, as the units currently under contract are priced significantly less. It takes about six months before the averages have much meaning.

Homes continue to move a tad better, with 236 Sanibel homes for sale, 33 sold/closed homes this year, and another 42 under contract. Of the homes sold and under contract, the average time on the market is around nine months, significantly less than condos. Average Sanibel home price to-date is $830,144, compared to last year at $826,130. The prices of the homes under contract are less too, so like condos, these averages will make more sense in another couple of months.

There are 103 Sanibel lots for sale, 5 sold/closed this year, another 3 are under contract. Those that sold were relatively new to the market. The existing inventory averages over two years for sale.

On Captiva, sales have not been as brisk and prices are just beginning to get down to where they should be to get the inventory moving. With 67 condos, 60 homes, and 10 lots for sale on that island, the 4 condos and 7 homes that have sold are just a drop in the bucket.

Buffett: ‘I’d Buy Up a Couple Hundred Thousand’ Homes

Here is an upbeat article that was posted on Florida Realtors® yesterday.

“Warren Buffett, the billionaire investor and Berkshire Hathaway CEO, said on CNBC’s “Squawk Box” recently that he’d “buy up a couple hundred thousand” single-family homes if it was practical. Buffett said that’s because he believes purchasing a home with ultra-low mortgage rates and holding it for the long-term has become a better investment than stocks right now. “Housing will come back, you can be sure of that,” Buffett wrote in his annual letter to shareholders recently.
“Buffett forecasts an increase in household formations, as more people who moved in with their parents or family members during the recession look to move out and get their own home soon. “People may postpone hitching up during uncertain times, but eventually hormones take over. And while ‘doubling-up” may be the initial reaction of some during a recession, living with in-laws can quickly lose its allure.” Buffett said the recovery in the housing market could vary quite a bit among local housing markets, however. He did not provide a timeline of when he expected a full housing recovery, admitting that his prediction last year that a housing recovery will take shape within the year turned out to be “dead wrong.”

Florida Real Estate Loses Its Thumbs-up in Fed’s Beige Book

The Miami Herald posted the following article yesterday. It is not quite as upbeat, but probably an accurate reflection of the state overall.

“Florida’s real estate recovery no longer gets rave reviews from the Federal Reserve.
The latest Fed Beige Book, which analyzes regional economies across the country, suggested Florida was missing out on some of the momentum behind the nation’s real estate market at the start of 2012.
Writing about the Southeast, Fed authors wrote the majority of “residential brokers reported that home sales accelerated in January and early February and stand above levels from the same time period last year. However, reports from Florida brokers were more mixed.” The Florida mention stands out, since past Beige Books have described Florida as an improving real estate market while other states in the Southeast were languishing. Fed analysts compile the Beige Book through anecdotal reports gathered from their regional offices, including one in Miami. The language always requires a bit of deciphering, but the overall tone can convey optimism or worry. The latest Beige Book maintained the cautiously upbeat vibe of past reports, with hiring up modestly, and residential real estate improving “somewhat.”
“For the Atlanta region, which covers the Southeast, analysts described the economy as “expanding at a somewhat stronger pace.” That appears to be the most optimistic phrase used for the District in at least two years, replacing “expanding at a modest pace,” expanding at a “very subdued pace”, “little-changed,” “moderated,” “advancing modestly,” “improved,” “mixed picture,” “slowed somewhat,” and “remained slow.” Of interest in South Florida, the Atlanta report noted higher convention attendance, lower cruise bookings thanks to the Costa shipwreck in Italy, and “modest growth” in trade with Latin America.”

Sanibel & Captiva MLS Activity February 24 – March 2

Sanibel
CONDOS
6 new listings: Sundial #F407 1/1 $297.5K, Sanibel Arms West #J1 2/2 $439K, Loggerhead Cay #121 2/2 $750K, Sundial #E108 2/2 $875K, Sundial #E305 2/2 $879K, St. Croix 2/2.5 $895K.
10 price changes: Captains Walk #D3 1/1 now $150K, Lake Palms #9 2/2.5 now $217K (short sale), Lake Palms #7 2/2.5 now $269K, Sunset South #1B 2/2 now $564K, Compass Point #213 2/2 now $569K, Sanddollar #B104 2/2 now $955K, Snug Harbor #113 2/2 now $985K, Compass Point #181 2/3 now $1.099M, Seascape #105 3/3 now $2.195M, Sedgemoor #101 3/3.5 now $2.399M.
4 new sales: Sanibel Arms #G2 gulf-front 1/1 listed for $395K, Sanibel Inn #3534 2/2 listed for $495K, Nutmeg Village #211 2/2 listed for $539K, Sundial #T403 2/2 listed for 598K.
3 closed sales: Sundial #S301 3/2 $619.9K (our sale), Gulf Beach #207 2/2 $665K, Signal Inn #18 2/2 $844.5K.

HOMES
1 new listing: 9020 Mockingbird Dr 3/2 $725K.
12 price changes: 2621 SanCap Rd 3/2 now $275K; 585 Lake Murex Cir 3/2 now $599K; 1001 Lindgren Blvd 3/2 now $654K; 5820 Pine Tree Dr 2/2 now $674.9K; 1339 Par View Dr 3/2 now $685.5K; 1511 Angel Dr 2/2 now $724K; 3861 Coquina Dr 3/3 now $729K; 919 Almas Ct 3/2.5 now $1,199,999; 760 Periwinkle Way 3/2.5 now $1.449M; 4809 Tradewinds Dr 3/3.5 now $1.495M; 3864 West Gulf Dr 4/5.5 now $2.188M; 3441 West Gulf Dr 5/4/2 now $5.75M.
8 new sales: 535 Piedmont Rd 3/2 listed for $387.5K, 555 Chert Ct 3/2 listed for $379K, 761 Nerita St 3/2 listed for $465K, 1284 Par View Dr 2/2 listed for $549K, 207 Daniel Dr 3/2 listed for $569K, 3061 Poinciana Cir 3/2 listed for $698K, 836 Sand Dollar Dr 3/2/2 listed for $1.199M, 1191 Bird Ln 4/3 listed for $2.195M (short sale). 3 closed sales: 4291 Gulf Pines Dr 3/2.5 $510K, 994 Whelk Dr 2/2 $550K, 1019 Lindgren Blvd 3/2 $690K.

LOTS
No new listings.
2 price changes: 2423 Blue Crab Ct now $329.9K, 4771 Rue Helene now $496K.
No new sales.
1 closed sale: 847 Casa Ybel Rd $112K.

Captiva
CONDOS
1 new listing: Sunset Beach Villas #2318 2/2 $599.9K.
1 price change: Bayside Villas #4322 3/3 now $520K (short sale).
1 new sale: Captiva Hide-A-Way #1D 2/2 listed for $600K.
No closed sales.

HOMES
2 new listings: 11531 Paige Ct 3/3.5 $3.75M, 16221-17 Captiva Dr 5/5 $4.945M.
No price changes, new or closed sales.

LOTS
Nothing to report.

Until next week, here’s hoping that you Shellabrate your weekend! See you next Friday, SanibelSusan

Sanibel & Captiva Islands Real Estate Update

Posted on February 17, 2012 by SanibelSusan

We are in the throes of “high season”. The traffic on Periwinkle Way in front of the office has been “all stop” most afternoons as workers head home off-island and as visitors/snowbirds venture out for early dinners. Lisa, Dave, and I were out showing property several times during the week. We need be sure to plan extra time for island-style traffic jams. Our trick is to take the back roads “West Gulf to Middle Gulf to East Gulf” and hope that Sanibel’s “finest” out directing traffic are moving the vehicles in our favor.

View from our new listing at Pointe Santo de Sanibel

We also received three new listings this week, which in itself is rather unusual for this time of the year. Thanks to a realistic seller, one of those new listings already is under contract. We also have an offer working on another property where we are representing a new buyer.

With the Presidents’ Week visitors arriving tomorrow, rumor has it that island accommodations are near-capacity next week. Hopefully that means even more real estate action in the days to come.

Check out the activity in our islands Multiple Listing Service this week below.

New Island Eatery

As a fan of Pinocchio’s Ice Cream in the heart of olde Sanibel on the island east-end, I chuckled when I saw the name of their new sister establishment that just opened next door. It is called Geppetto’s Beach Foodies, a market with “grab ‘n go beach cuisine”. Baked fresh daily in their store, Gepetto’s sells croissants, baguettes, soufflés, pastry, and artisan bread, as well as French-pressed coffee, pasta, soups, salads, cheeses, antipasto, and NYC Italian-bakery-style pizza and panini. Yum!

Interest Rates Remain Low

Local banks are producing rate sheets again. When customers ask about financing, I offer several recommendations and call them “the three Dans”. They include Dan Cronin, Vice President and Loan Officer with Sanibel-Captiva Community Bank at 239-210-7100; Dan Krispinsky, Senior Loan Officer with Mutual of Omaha Bank at 239-850-9232; and Dan Royal, Vice President with FineMark National Bank & Trust at 239-461-5961. With interest low, even our typical cash island buyers are considering financing alternatives. Convention and conforming loans for both condos and single-family homes remain under 4%, with ARMs as low as 2.5%. Non-conforming jumbo loans or those greater than $417,000 are low too, with a 30-year fixed with no points at 4.25%.

Rotary Club of Sanibel-Captiva “Arts & Crafts Fair”

Set-ups are on-going this afternoon for the 29th annual Arts & Crafts Fair that is the happening place to be tomorrow and Sunday right across the street from SanibelSusan Realty. We are a long-time advertiser in their program, so generally will get a walk-in or two from folks visiting the fair. Look for more info at www.sanibelartfair.com.

Shellabration 2012

As advertisers in the commemorative edition program for the 75th Anniversary Sanibel Shell Fair & Show, we received a stack of copies yesterday. If you would like one, just stop into the office anytime. The Shellabration 2012 island-wide celebration began today and runs through March 3. Watch the national news tonight for the results of the huge Sanibel Stoop event this morning.

Sanibel & Captiva Multiple Listing Service Activity February 10-17

Sanibel
CONDOS
6 new listings: Mariner Pointe #1043 2/2 $299.9K (our listing), Sandpebble #4E 2/2 $369K, Island Beach Club #310A 2/2 $519K, Mariner Pointe #112 2/2 $599K, Pointe Santo #C23 3/2 $649K (our listing), Sundial #T404 2/2 $675K.
12 price changes: Captains Walk #F7 2/1.5 now $227K, Sanibel Arms #C1 2/2 now $408K, Seawind #104 2/2.5 now $488K, Snug Harbor #311 2/2 now $499K, Sunset South #9A 2/2 now $499K, Island Beach Club #P1E 2/2 now $649K, Sundial #T404 2/2 now $669K, Shell Island Beach Club #5B 2/2 now $764K, Pointe Santo #C25 3/2 now $799K, Lantana #202 4/3.5 now $1.798M, Sedgemoor #206 3/3.5 now $2.999.9M.
1 new sale: Pointe Santo #C23 3/2 listed for $649K (our listing).
3 closed sales: Colonnades #C43 1/1 $155K, Sanbel Moorings #321 2/2 $400K, Loggerhead Cay #422 2/2 $380K.

HOMES
10 new listings: 555 Leather Fern 2/2 $295K, 966 Greenwood Ct S 3/2.5 half-duplex $324.9K (our listing), 1086 Sand Castle Rd 3/2 $544K, 207 Daniel Dr 3/2 $569K, 1477 Albatross Rd 4/3 $648K, 1309 Par View Dr 3/3 $895K, 862 Beach Rd 3/2 $999K, 2665 West Gulf Dr 3/3 $1.295M, 1249 Par View Dr 4/4.5 $1.595M, 1266 Isabel Dr 3/3 $2.495M.
8 price changes: 2210 Camino Del Mar 3/2 now $539K, 1750 Dixie Beach Blvd 3/2.5 now $549K (short sale), 215 Robinwood Cir 3/2 now $639K, 927 Limpet Dr 3/3 now $674.9K (foreclosure), 1339 Par View Dr 3/2 now $694.5K, 228 Hurricane Ln 3/2.5 now $739K, 2729 Wulfert Rd 4/4.5 now $1.395M, 4949 Joewood Dr 5/5 now $2.775M.
5 new sales: 5745 Pine Tree Dr 2/1 listed for $435K, 1430 Sandpiper Cir 3/3 half-duplex listed for $446,255; 293 Palm Lake 3/2 listed for $479K; 525 Lake Murex Cir 3/2.5 listed for $499K; 1735 Jewel Box Dr 3/2 listed for $800K.
4 closed sales: 555 Rabbit Rd 3/2 $395K, 913 Kings Crown Dr 4/3 $970K, 6004 White Heron Ln 4/4/2 $1.725M, 5029 Joewood Dr 3/2 $1.824M.

LOTS
No new listings.
1 price change: 1326 Junonia St now $279K.
1 new sale: 761 Donax St listed for $189K.
No closed sales.

Captiva
CONDOS
1 new listing: Bayside Villas #5132 1/2 $275K.
1 price change: Sunset Beach Villas #2336 2/2 now $749.9K.
No new or closed sales.

HOMES
1 new listing: 14981 Binder Dr 2/2 $849K.
1 price change: 28 Urchin Ct 2/2 now $789K.
1 new sale: 15867 Captiva Dr 4/4.5 listed for $3.498M.
No closed sales.

LOTS
Nothing to report.

Until next week, here’s to happy shelling and selling, SanibelSusan

Turtles, Tortoises, Ospreys, Flowering Trees, & “The Sanibel Stoop”

Posted on February 10, 2012 by SanibelSusan

This slideshow requires JavaScript.

It’s another happy Friday at SanibelSusan Realty Associates. Just our escapades on a single day again showed us why we love working on this wonderful paradise island. The slide show above includes a variety of photos that Dave, Lisa, and I took on Tuesday (February 7, 2012) while out both showing property and scoping out some listings. Local meteorologists had forecast a rainy day, but these pictures go to show that if there is one thing that changes frequently here, it’s the weather. We had an overcast couple of hours early day, but by 10 a.m. the islands were again sunny and bright.

Sanibel and Captiva Islands have experienced a very mild winter. Our daily temperatures for several weeks have been in the 70s/80s with cooling breezes off the gulf and bay waters.

Shellabration 2012 Begins

For those wanting to partake in the events honoring the 75th Anniversary of the Sanibel Shell Fair and Show, they are right around the corner.

Next Friday, February 17, at 10 a.m. sharp is Sanibel’s effort to set an official Guiness World Record. The goal is to have at least 500 people come to Bowman’s Beach to perform the “Sanibel Stoop” and in the process break the record for the world’s largest treasure hunt. Pre-registration and transportation arrangements begin today at the Sanibel Community House. Pre-registration is necessary to be counted! Official T-shirts will be distributed free to those attending.
Also on the 17th, in the evening, the Community House is hosting a “Shellegant” opening gala dinner and dance at the Sanctuary Golf Club.
On Monday, February 27, tickets are available for the Shell Couture Fashion Show and Lunch, also at the Sanctuary Golf Club. The BIG ARTS Community Chorus is providing entertainment. (Bet you know who will be singing in that).
The fair itself, runs daily from March 1-3 at The Community House. SanibelSusan Realty this year again is a trophy sponsor. For more details on these events, either call the Sanibel Community Association at 472-2155 or go to their website at http://SanibelCommunityHouse.net.

With our office being in close proximity to The Community House, we often get walks-ins during their scheduled events.

More Deals Falling Through

An article posted this week in Florida Realtors® caught my eye. The article was sourced from “Real Estate: A Buy or Bust This Spring Selling Season?” Investor’s Business Daily (February 2, 2012) and Realtor Magazine Daily News. Here in Southwest Florida and even on Sanibel and Captiva Islands, the same problem exists. The article said:

“Appraisals coming in lower than the agreed-upon sales price continue to cause more real estate deals to be cancelled, recent surveys show. In December, a third of real estate professionals reported they had a real estate contract fall through, up from 9% a year earlier. The National Association of Realtors®, along with other housing industry groups, point to low appraisals and rejected mortgage applications from a stringent lending environment as the main forces behind the high number of transaction cancellations in recent months. Too often, foreclosure sales – which tend to be sold at big discounts – are being weighted into valuations of non-foreclosure homes, experts argue.
“The National Association of Home Builders’ chairman Bob Nielsen has called the use of distressed and foreclosure sales in comparables in appraisals “inappropriate” and “needlessly driving down home prices.” Sixty percent of builders say they’re seeing problems from appraisals coming in below their contract sales price. “This is not only unfair and unreasonable, but it perpetuates the cycle of declining home values, drives more homeowners underwater, harms local economic activity and acts as an obstacle to the recovery of the housing market,” Nielsen said in a statement in December about appraisals.
“But the lending environment also needs to change for the housing market to recover and for fewer deals to stop falling through, housing experts say. “If we simply return to the normal credit standards, verifying income and looking at the creditworthiness of an individual to stay in a property long term, we think sales will be 15% to 20% above where they are,” NAR spokesman Walt Molony told Investor’s Business Daily. “There are more people trying to buy homes than are succeeding today.”

Sanibel & Captiva Island Real Estate Activity This Week

Our Sanibel and Captiva Islands Association of Realtor® Caravan meeting yesterday was held at The Sanctuary Golf Club where Ken Kouril, the Club General Manager, updated us on memberships. It has already been a busy “season” at The Sanctuary, as he reported that they have only five social and five golf memberships left. Once those are gone, memberships will be wait-listed.

Lots of new real estate sales were announced during the meeting. Our listings had good showing activity too, plus we held several open houses which brought in some lookers (probably helped that we had a couple of cloudy afternoons). Lisa and I were out showing property on Tuesday. Now we have an offer in the works. I also am negotiating an offer that came in on one of our listings. All-in-all, this is more positive news than we have had in a long time. “Season is here”, with another good eight weeks of action expected.

Multiple Listing Service Activity February 3-10

Sanibel
CONDOS
3 new listings: Sundial #C110 1/1 $329K, Breakers West #B1 2/2 $399K, Sanddollar #C101 2/2 $899K.
10 price changes: Coquina Beach #1D 2/2 now $379K, Sanibel Arms #2 1/1 now $395K, Blind Pass #B103 3/2 now $499K, Mariner Pointe #1052 2/2 now $499K, Pelicans Roost #104 2/2 now $650K, Pointe Santo #C25 3/2 now $799K, Sanibel Surfside #125 2/2 now $849K, Sundial #A301 2/2 now $875K, Sundial #T306 3/2 now $995K, Beachcomber #A101 2/2 now $1.549M.
6 new sales: Tennisplace #C23 2/1.5 listed for $269.9K, Mariner Pointe #1082 2/2 listed for $298.5K, Sundial #B301 1/1 listed for $315K, Kings Crown #104 2/2 listed for $629K, Signal Inn #18 2/2 listed for $889K, Sunward #203 3/2 listed for $1.195M. 2 closed sales: Seawind II #5 2/2.5 $539K, Sedgemoor #203 3/3.5 $2.082.5M.

HOMES
12 new listings: 565 East Rocks Dr 3/2 $448K, 750 Nerita St 3/2 $509K, 236 Hurricane Ln 3/2 $549K, 3868 West Gulf Dr 3/2 $599K, 1366 Sand Castle Rd 3/2.5 $725K, 4518 Bowen Bayou Rd 4/4 $779K, 963 Kings Crown Dr 3/3 $795K, 4996 Joewood Dr 3/3 $799K, 2479 Harbour Ln 3/2 $850K, 6433 Pine Ave 4/3 $989K, 836 Sand Dollar Dr 3/2/2 $1.199M, 4215 West Gulf Dr 4/5.5 $4.999.9M.
17 price changes: 984 Sand Castle Rd 4/3.5 now $353K, 761 Nerita St 3/2 now $465K, 1610 Sabal Sands Rd 3/2 now $499K, 2560 Coconut Dr 3/3 now $515K, 5841 Pine Tree Dr 3/2 now $519.9K, 1245 Anhinga Ln 3/2 now $569K, 220 Palm Lake Dr 3/3 now $574K, 1705 Serenity Ln 3/2.5 now $584.5K, 955 S Yachtsman Dr 3/2 now $595K, 1390 Middle Gulf Dr 3/3 half-duplex now $599K, 9470 Balsa Ct 3/2 now $749K, 5864 Pine Tree Dr 3/3.5 now $899K, 569 Lighthouse Way 3/3 now $950K, 2367 Wulfert Rd 4/3.5 now $1.098M, 1743 Venus Dr 4/3.5 now $1.279M, 1470 Middle Gulf Dr 4/5.5 now $2.095M, 568 Lighthouse Way 4/4.5 now $2.5M.
5 new sales: 1001 East Gulf Dr 2/2 listed for $399K, 761 Nerita St 3/2 listed for $465K, 237 Daniel Dr 3/2 listed for $550K, 4775 Rue Helene 4/3 listed for $729.9K, 1331 Sand Castle Rd 3/2.5 listed for $749K.
5 closed sales: 5657 SanCap Rd 3/2 $400K, 1345 Junonia St 2/2 $530K, 1242 Middle Gulf Dr 3/2 $730.75K, 4405 West Gulf Dr 2/1.5 $1.65M, 5045 Joewood Dr 3/3.5 $1.8M.

LOTS
1 new listing: 861 Birdie View Pt $374.9K.
1 price change: 1657 Sabal Sands Rd now $279,999.
1 new sale: 604 Boulder Dr listed for $270K.
2 closed sales: 4407 West Gulf Dr $1.65M, 3935 West Gulf Dr $2.15M.

Captiva
CONDOS
3 new listings: Bayside Villas #4302 3/3 $635K, Bayside Villas #5338 3/3 $635K, Bayside Villas #5343 3/3 $699K.
3 price changes: Bayside Villas #5308 3/3 now $599K, Seabreeze #1251 3/3 now $1.649M, Beach Homes #2 3/2 now $1.749M.
1 new sale: Sunset Beach Villas #2323 1/1 listed for $475K.
No closed sales.

HOMES
2 new listings: 11522 Andy Rosse Ln 4/4.5 $2.375M, 11530 Paige Ct 4/4.5 $3.995M.
No price changes or new sales.
1 closed sale: 11522 Andy Rosse Ln 4/4.5 $1.96M (foreclosure).

LOTS
Nothing to report.

If you are on the island this weekend, be sure to stop in,

I’ll be in the office both days,

SanibelSusan

Sanibel Achieves Another #1

Posted on February 3, 2012 by SanibelSusan

I don’t know about you, but it sure is hard to believe that it is already another Friday. Time sure flies here on sunny Sanibel. We are just finishing up another week of wonderful 80-degree weather, with more of the same expected next week. That Gulf Stream sure is contributing to us having a near-perfect winter so far. Above is a photo that I snapped earlier in the week of Gramma Dot’s Restaurant at the Sanibel Marina. Love the colors!

Below is one taken this afternoon when I returned to the office and found someone else parked in my usual parking spot. Wonder what their feathered friend is up to? Maybe just as well that I found another spot.

And here is yet another photo, taken overlooking Pine Island Sound & San Carlos Bay on February 1st at sunset. It was about 80 degrees at the time. The weather sure doesn’t get much better than this!

Sanibel sunset "sailors' delight", 2/1/2012

Sanibel School #1 in State

A Fort Myers “News-Press” article this week announced that “The Sanibel School is the best place to get an elementary/middle school education in the state according to Florida’s first-ever school rankings released Monday. The state Department of Education posted its best-to-worst ranking of Florida’s 3,078 public schools, and the Sanibel Island school was the only Lee and Collier County institution to get a top-10 ranking. Sanibel was the top-ranked combination school for elementary and middle school students. The state ranked the schools based on the number of school grade points they received for the 2010-11 school year as part of the state’s school grading formula. For elementary, middle and combination schools, points are earned based solely on the Florida Comprehensive Assessment Test, with points given for the percentages of students scoring at grade level or better on the FCAT or making learning gains…The state is touting the new rankings as an easy-to-read list that lets parents, taxpayers and others know how well their school or district is performing. Last week, the state released a similar ranking for school districts: Lee placed 22nd of the 67 school districts; Collier 33rd….The Sanibel School, which has been an A school for 11 consecutive years, has a 16% free and reduced price lunch rate and a 10% minority rate. Sanibel, which has 375 students, earned high ranking thanks in large part to its sterling FCAT scores and its work with its lowest 25% of learners in reading and math…At the high school level, Fort Myers High was Southwest Florida’s top school….”

Sanibel Brazilian Pepper, Final Zone Pick-Up Scheduled

The following announcement is posted on http://www.mySanibel.com As background, Zone 6 is the last area of the island to be completed in the City’s Brazilian Pepper Eradication Program. Through the program, island property owners are first given an opportunity to remove their pepper voluntarily.

“In coordination with the City of Sanibel’s island-wide Brazilian Pepper Eradication Program and the City’s waste hauler, Veolia, a free curbside pickup for Brazilian pepper debris is scheduled for February 16 and 17 for all properties in Zone 6. Zone 6 includes all properties between Rabbit Road and Jamaica Drive from the gulf to the bay and was designated by City Council as a voluntary removal zone in July 2010. All property owners within Zone 6 wishing to take advantage of this service should plan to have their pepper debris curbside the evening of February 15th prior to pick-up. Unbundled debris (i.e. no bags, string, etc.) should be cut to a reasonable size (less than 6 feet) and placed in organized piles at the curb. Debris should not be located directly under overhead utility lines. Remember, this service is for Brazilian pepper debris only. If other vegetative debris is mixed with pepper, waste management crews will not pick up the pile. This will not change your regularly scheduled pick-up of vegetative waste. This will be the FINAL free Brazilian pepper curbside pickup for Zone 6. Shortly thereafter, Natural Resources will be seeking City Council’s authorization to designate Brazilian pepper removal in Zone 6 as mandatory and will begin Code Enforcement action on all properties with Brazilian pepper remaining. We encourage all Zone 6 residents to act now to take immediate advantage of this cost saving incentive. To learn more about the City’s Brazilian Pepper Eradication Program or to obtain a list of licensed Brazilian pepper removal contractors, please click here or contact Holly Downing in the Natural Resources Department at (239) 472-3700.”

NAR’s Confidence Index Shows Upswing

Here is a positive article that was posted on Florida Realtors® this week. “The National Association of Realtors® conducts a monthly study on Realtors outlooks about the housing market, and the Realtors Confidence Index for single-family home sales in December increased to 31.6 from November’s 30.4. However, it increased 7.1 points in one year – since December 2010 – when it was 24.5. Overall, the Index has shown a slowly improving market outlook.

“The index for townhouses was 18.5 in December down slightly from November’s 18.7. A year earlier, however, it was 12.6. The index for condos also decreased to 14.3 from November’s 15.3, but one year earlier it was only 10.3.

“The index also measured Realtors’ outlooks by region. Overall, the West had the highest outlook at 35.0, but the South – which includes Florida – came in second at 33.3. One year earlier, the South’s index stood at 25.1.

“Overall, 55% of Realtors surveyed expect prices to rise over the next year, an increase from 50% only one month earlier; and 7% of Realtors expect prices to rise 5% or more compared to November’s 6%. On the flip side, 38% of Realtors expect prices to fall, but that’s less than the 43% who said the same thing one month earlier.

“In an analysis, NAR Chief Economist Lawrence Yun said 2012 kicks off with “a significant amount of good news. … Existing home sales in December were up from a year ago. Pending sales – that is, contract signings – were 5% ahead of a year ago. Housing inventory – the number of homes available for sale – has declined (both for existing and newly built homes). Housing affordability continues at record high levels.” Yun says that one major problem still hangs over the housing market, however: Many middle-class buyers have been shut out of the market because they cannot obtain a mortgage. “Loan qualifications have become so strict since 2009 that only borrowers with super-high credit scores and spotless credit history are able to obtain mortgages,” Yun says. According to one-third of the Realtors surveyed, access to credit was the most important factor limiting clients’ ability to buy a home.”

The Minimum Credit Score

In keeping with the above article, a local lender recently sent an e-mail to Realtors clarifying what their bank requires for a credit score for a home loan. It said: “The minimum credit score we require is a 640 for most of our programs where the loan amounts are under $417,000. Each applicant has 3 scores: Equifax, Experian, and Trans Union. We take the middle credit score of each borrower. Then borrower’s lower middle score is the score an underwriter uses to both underwrite and price a loan.”

Baby Boomers Geared Up To Move

Interesting statistics were posted in the below article that I read this morning on Florida Realtors®. I hope this means “Sanibel, here they come”.

“Where will baby boomers go to retire? A new survey conducted by Mason-Dixon Polling & Research for the Consumer Federation of the Southeast finds one in three could move out of their home state in search of low taxes, low housing costs, pleasant climates and quality health care. They also want diverse recreational activities, supportive senior services, arts and cultural opportunities, nearby beaches and access to education.

“The baby boom generation has 78 million members, and the first wave – those born in 1946 – reach the full age for Social Security retirement benefits this year. According to the survey, a full third of baby boomers are open to moving across state lines to find the assets they are looking for, including a mid-size town that welcomes a diverse population. “According to this survey, substantial numbers (of baby boomers) are interested in relocating in retirement,” says Walter Dartland, president of the Consumer Federation of the Southeast. “The decisions they make about where they will retire will have a huge impact not only on their families’ finances but on the communities to which they move.”

“Attracting even a small percentage of boomers can significantly impact a community. If just 0.3% move to a single area, it adds an estimated 1 billion per year in new economic income through jobs and new business. “This important survey, one of the most extensive of its kind in a decade, underscores the tremendous contribution that Americans aged 50 and older can offer to communities wherever they choose to live,” says Jeff Johnson, AARP Florida’s interim state director. “AARP Florida believes this research will help inform the efforts of many communities to better equip themselves to address issues important to a 50-plus population.””

Sanibel Real Estate Activity This Week

Our SanibelSusan listings had reasonable showing activity this week. We had a nice condo listing go under contract last weekend too. That makes five sales so far in 2012 for SanibelSusan. Not bad for five weeks into the year.

In the general condo market, Sanibel is not gaining much ground. There are 260 units for sale. This week, there were 5 new listings posted, 5 price reductions, 5 new sales, and 3 closed sales. At the current sale rate, that equates to nearly two years of inventory.

Sanibel homes continue to move a little better. With 7 new listings, 14 price reductions, 5 new sales, and 5 closed sales this week, inventory is dwindling a tad. About 15 months of inventory remain.

It was good to see some Sanibel lot activity this week too. There were 2 new sales and a price reduction this week. 103 lots remain on the market which is from two to five years work of inventory depending on how you look at it. That’s a tough market to predict.

Sanibel & Captiva Multiple Listing Service Activity January 27 – February 3

Sanibel
CONDOS
5 new listings: White Caps South #2 1/1 $474.9K, Sunset South #6B 2/2 $499K, Tarpon Beach #308 2/2 $635K, Sundial #A408 2/2 $749K, Bougainvillea #4 3/3 $1.295M (house on condo grounds).
5 price changes: Blind Pass #E102 2/2 now $419.9K, Sunset South #9D 2/2 now $489K, Sandalfoot #3C3 2/2 now $519K, Snug Harbor #311 2/2 now $569K, Kimball Lodge #304 2/2 now $629K.
5 new sales: Seashells #20 2/2 listed for $349K (our listing), Donax Village #18 2/2 listed for $369K, Sanibel Moorings #321 2/2 listed for $415K, Loggerhead Cay #481 2/2 listed for $425K, Gulfside Place #116 3/3 listed for $1.895M.
3 closed sales: Sanibel Moorings #1512 2/2 $392.5K, Clam Shell #C 2/2 $685K, Gulfside Place #318 2/2 $892.5K.

HOMES
7 new listings: 1120 Junonia St 3/2 $629K, 4775 Rue Helene 4/3 $729.9K, 5427 Osprey Ct 3/3.5 $1.272M, 1102 Harbour Cottage Ct 3/2 $1.429M, 2429 Wulfert Rd 4/4.5 $1.495M, 1290 Bay Dr 3/2 $1.595M, 842 Limpet Dr 3/3.5 $1.795M.
14 price changes: 984 Sand Castle Rd 4/3.5 now $353K, 458 Lake Murex Cir 3/2 now $419K, 6467 Pine Ave 3/3 now $495K, 5740 SanCap Rd 2/2 now $499K, 731 Nerita St 3/2 now $519K, 9440 Begonia Ct 3/2 now $530K, 955 S Yachtsman Dr 3/2 now $595K, 1750 Dixie Beach Blvd 3/2.5 now $599K (short sale), 1233 Middle Gulf Dr 3/2 now $679.9K, 542 N Yachtsman Dr 2/2 now $749K (our listing), 9470 Balsa Ct 3/2 now $794K, 4041 Coquina Dr 3/3 now $949K, 228 Violet Dr 4/2/2 now $1.395M, 2118 Starfish Ln 4/5 now $1.994.9M.
5 new sales: 848 Rabbit Rd 3/2 listed for $295K (short sale), 1427 Sandpiper Cir 2/2 half-duplex listed for $339K, 994 Whelk Dr 2/2 listed for $589K, 1290 Par View Dr 4/2 listed for $649K, 244 Daniel Dr 3/3 listed for $799K.
6 closed sales: 766 Donax St 2/2 duplex $275K, 1800 Ardsley Way 3/2 $534.5K, 244 Christofer Ct 3/3 $575K, 450 Sea Walk Ct 4/3 $600K, 1538 Royal Poinciana Cir 3/3 $600K (short sale), 411 Lighthouse Way 4/3 $1.25M.

LOTS
No new listings.
1 price change: 2988/2993 Wulfert Rd now $949K.
2 new sales: 847 Casa Ybel Rd listed for $164,555, 513 Sea Walk Ct listed for $325K.
No closed sales.

Captiva
CONDOS
1 new listing: Bayside Villas #5210 1/2 $299K.
1 price change: Marina Villas #603 2/2 now $525K.
No new sales.
1 closed sale: Lands End Village #1651 2/2 $881.5K.

HOMES
1 new listing: 11530 Paige Ct 4/4.5 $3.995M.
2 price changes: 14980 Binder Dr 3/3 now $1.465M, 1 Sunset Captiva 2/2.5 now $1.595M.
1 new sale: 941 South Seas Plantation Rd 3/3.5 listed for $4.995M.
2 closed sales: 11531 Andy Rosse Ln 4/4 $1.3M, 11522 Andy Rosse Ln 4/4.5 (foreclosure) $1.96M.

LOTS
No new listings.
2 price changes: 11535 Murmond Ln now $649K, 15295 Captiva Dr now $649K.
No new or closed sales.

Sending good Super Bowl wishes your way, SanibelSusan

Plenty of Real Estate Action This Week on Sanibel Island

Posted on January 20, 2012 by SanibelSusan

Photo courtesy of Jim Anderson, JMA Photography

Good news with several gulf-front high-end Sanibel sales announced at our Sanibel and Captiva Islands Association of Realtors Caravan meeting yesterday. We finally are “in season” with a noticeable increase in real estate activity. Now we begin dealing with the obstacles of selling real estate when the islands are busy: i.e. making appointments and convincing renters to allow showings when properties are occupied, competing with the weather when it is a beautiful day (and prospective buyers are out having fun rather than looking at real estate), jockeying for keys with other Realtors®, and the like. Makes the job fun! Today, we have bright blue sunny skies with temps expected to reach 79 degrees, followed by the low 80’s every day right into next week. Truly a terrific time to be here, looking at property, and usually when properties show best!

Florida Realtors® Posts Housing Market Indicators

As someone who reads nearly every real estate article that I can get my hands on, I have found it especially useful to watch the statistics that Florida Realtors® posts on line every week. These are not specific to the islands but the overall trend has been good.

Florida existing home sales: (month-to-previous-year comparison) +11%

Florida existing condo sales: (month-to-previous-year comparison) +2%

Florida existing home median price: $130,100

Florida existing condo median price: $86,700

National existing home sales: (month-to-previous-month comparison; all housing types) +4%

National existing home median price: $164,200

National (Freddie Mac) mortgage rate: (all housing types) 3.89%

The SCCF Signs Are Clean

Here are a couple of photos taken yesterday of Dave and Lisa when they represented The SanibelSusan Team in helping perform a community service chore. Thanks to our islands Realtor® Association, all of the Sanibel-Captiva Conservation Foundation (SCCF) signs, which designate the many island conservation areas, are now spiffed up.

Dave and Lisa were tasked to cleaned both the main SCCF entrance sign on Sanibel-Captiva Road and the nearby Habitat Management sign. Nice job!

The plan is for specific Realtors to adopt individual signs so that they will attend to their clearing year-round so that they will always be sparkling. Yet another good cooperative effort that makes island ambience so special. Sanibel and Captiva residents, visitors, and business folks are known for being down-to-earth and helping-each-other. Love that community spirit!

If You Are Lucky Enough to Be Here

Be sure to click the “upcoming events” tab above for the schedule of island happenings. There are many new events this year. SCCF, BIG ARTS, CROW, and others have expanded their programs. Almost makes a girl wish that she wasn’t working; but there are plenty of evening events too. Community chorus is back in full swing and practicing hard for our upcoming spring concert March 22. There already is talk that it will be a sell-out so a second performance is being considered. Tickets go on sale soon.

Sanibel & Captiva Multiple Listing Service Activity January 6-13

Sanibel
CONDOS
5 new listings: Sundial #D305 1/1 $269K (short sale), Heron at The Sanctuary II #3B 2/2.5 $609K, Pine Cove #102 3/2 $879K, Sanctuary Golf Villages #4 3/3 $948K, Pine Cove #104 3/2 $1.35M.
8 price changes: Seashells #26 2/2 now $274K, Beach Road Villa #106 2/2 now $295K, Sanibel Arms West #K3 2/2 now $399K, Sanctuary Golf Villages #3-2 3/3 now $499K, Sand Pointe #211 2/2 now $619K, Pointe Santo #A21 2/2 now $769K, Signal Inn #18 2/2 now $889K, Gulfside Place #319 2/2 now $974K (our listing).
6 new sales: Sanibel Moorings #1512 2/2 listed for $429K, Sanibel Arms West #I8 2/2 listed for $449K, Seawind II #5 2/2.5 listed for $599K, Gulf Beach #207 2/2 listed for $719K, Gulfside Place #318 2/2 listed for $1.1M, Wedgewood #203 3/3.5 listed for $1.95M.
3 closed sales: Sundial #G206 1/1 $260K; Sand Pointe #133 2/2 $534,285 (short sale); Gulfside Place #104 3/2 $1.129.5M.

HOMES
8 new listings: 1430 Sandpiper Cir 2/3 half-duplex $446,225; 1750 Dixie Beach Blvd 3/2.5 $629K (short sale); 1308 Tahiti Dr 3/3 $789K; 667 Anchor Dr 4/3.5 $995K; 960 Victoria Way 3/3 $1.095M; 2279 Troon Ct 3/4 $1.495M; 547 Kinzie Island Ct 5/5.5 $1.775M; 4203 Dingman Dr 4/3 $2.595M.
7 price changes: 293 Palm Lake 3/2 now $479K, 220 Southwinds Dr 2/2 now $499K (our listing), 569 Lighthouse Way 3/3 now $1.05M, 1765 Venus Dr 3/3 now $1.199M, 568 Lighthouse Way 2/2 now $1.4M, 4781 Tradewinds Dr 3/2 now $1.839M, 1918 Woodring Rd 4/4 now $2.799M.
12 new sales: 1133 Sand Castle Rd 3/2 listed for $499K, 5657 SanCap Rd 3/2 listed for $545K, 480 Peachtree Rd 3/3 listed for $549K, 210 Daniel Dr 3/3 listed for $549K (our listing), 947 Lindgren Blvd 3/2 listed for $749K, 1537 Sand Castle Rd 4/3 listed for $774K, 1360 Eagle Run Dr 5/3.5 listed for $900K (short sale), 913 Kings Crown Dr 4/3 listed for $995K, 730 Birdie View Pt 3/2.5 listed for $1.35M, 5029 Joewood Dr 3/2 listed for $1.985M, 5045 Joewood Dr 3/3.5 listed for $2.295M, 3805 West Gulf Dr 4/4.5 listed for $4.495M.
4 closed sales: 683 Emeril Ct 2/2 $440K, 3145 Twin Lakes Ln 3/3 $444K, 1057 Sand Castle Rd 3/2 $625K, 784 Birdie View Pt 4/4 $1.5M.

LOTS
No new listings.
1 price change: 1114 Seagrape Ln now $475K.
1 new sale: 2285 Wulfert Rd listed for $139K (short sale).
1 closed sale: 1912 Ibis Ln $225K.

Captiva
CONDOS
1 new listing: Lands End Village #1664 3/3 $1.597.9M.
No price changes.
1 new sale: Lands End Village #1651 2/2 listed for $975K.
No closed sales.

HOMES
2 new listings: 15879 Captiva Dr 3/3 $2.498M, 15867 Captiva Dr 4/4.5 $3.498M.
1 price change: 16730 Captiva Dr 5/4.5 now $4.95M.
1 new sale: 16205 Captiva Dr 4/4 listed for $1.975M (foreclosure).
2 closed sales: 51 Oster Ct 2/2.4 $685K, 16891 Captiva Dr 3/2 $1.3M.

LOTS
No new listings.
2 price changes: 1114 Schefflera Ct now $498K, 13470 Palmflower Ln now $869K.
No new or closed sales.

Until next Friday, here’s hoping your days are as bright as our forecast on sunny Sanibel Island, :-) SanibelSusan

What’s Cookin’ This Week at SanibelSusan Realty

Posted on January 13, 2012 by SanibelSusan

The SanibelSusan Friday blog is posted a little early this week, as now through Sunday are the Florida Realtors® Mid-Year Business Meetings. These are our state leadership kick-off events for what is expected to be a terrific year. For 2012, I am happy to be part of the “Resort & Second Home Specialists Forum” and the “Professional Standards Forum”.

Frommer’s Favorite 10 Destinations

This week, I came across an interesting article on-line posted by Arthur Frommer, founder of Frommer’s Travel Guides. As one who as found his guides to be “spot on”, it was great to see that when he wrote about his favorite vacations destinations, Sanibel was on the list. His article said: “To me, the leisure enjoyed during the holiday season is a perfect time in which to plan future vacations. And so I’ve compiled a list of my own favorite destinations, of which there are 10:

1. Sanibel Island, Florida

2. The Island of Bali, in Indonesia.

3. Paris, France

4. St. Johns in the U.S. Virgin Islands

5. Cairo, Egypt

6. Bonaire, one of the “ABC” islands of the southern Caribbean

7. Yachats, the Oregon Coast

8. Chiang Rai, Thailand

9. New York City’s Greenwich Village (& its Off-Broadway theaters)

10. Kenya

Runners-up to my 10 best: Copenhagen, St. Lucia in the Caribbean, Oxford, Mexico’s San Miguel del Allende, and Rio.”

Local Installation & Awards Banquet

Last Saturday, our Sanibel & Captiva Islands Association of Realtors® had their Installation and Awards Banquet. Lisa, David, and I represented SanibelSusan Realty. I picked up an Honor Society award for the 19th year (wow, how time flies).

As part of our contributions to the community, local association members recently volunteered to keep Sanibel-Captiva Conservation Foundation (SCCF) signs clean. SanibelSusan adopted the SCCF entrance sign and the Habitat Management sign on San-Cap Road, so if you have noticed that they are looking a little shabby, they should be sparkling in another week.

Fishermen Mark Your Calendars

Dave with tarpon that he caught & released in 2007

Local fishermen, members of the Fort Myers Beach Tarpon Hunters Club, and professional fishing guides along with J.N. “Ding” Darling National Wildlife Refuge and Doc Ford’s restaurants staffs, including award-winning Doc Ford novelist Randy Wayne White, just announced a “Ding” Darling & Doc Ford’s Tarpon Tournament. Slated for May 5, 2012, the event will have cable network coverage and a 100% purse. Expect to hear more about it in the weeks to come.

Free Refuge Days

By Presidential decree, “Ding” Darling’s Wildlife Drive will be open free of charge tomorrow, January 14, through Monday, January 16. The Refuge Education Center – which is always open free to the public – also will be open all three days, including the Martin Luther King Jr. holiday.

‘Strategic Default’ Poses Ethical Question

A thought-provoking article was posted in Florida Realtors this week. The source is “As Home Prices Fall, More Borrowers Walk Away,” MSNBC.com (Jan 9, 2012): “Some homeowners who owe more on the mortgage than a home is currently worth are turning over the keys and walking away – a move known as “strategic default.” The growing number of strategic defaults across the country is alarming, particularly since many of homeowners can still afford their mortgage payments but choose to walk away anyway.
“In 2010, about 30% of mortgage defaults were from homeowners who could afford to make their payments – that’s up from 22% in 2009, according to a 2011 survey conducted by finance professors Paola Sapienza at Northwestern University and Luigi Zingales at the University of Chicago.
“A recent study commissioned by the Mortgage Bankers Association likens the rise in strategic defaults to the spread of a disease. The longer the housing crisis goes on, the more other homeowners will be tempted to walk away, the study concludes. “As fundamentally social animals, humans consciously (and subconsciously) look to their peers when forming opinions, habits and behaviors,” according to the report.
“Strategic default has come down to an ethical question for some homeowners. “Guilt and morality are one side, and objective financial analysis are on the other side,” said David Martin, 68, who has considered walking away from a Seattle condo he owns with his wife because the condo is worth about $60,000 less than the balance on their mortgage. “They’re coming to two opposite conclusions. I wonder how many other people are struggling with the same question.” Martin and his wife have decided to stick it out, however, hoping for a rebound in housing prices in 2013 as they continue paying their mortgage.
“But other homeowners weighing the question are not always reaching the same conclusion. “It’s a looming problem that’s in the shadows,” Jason Kopcak, a mortgage trader at Cantor Fitzgerald, told MSNBC.com. “It’s very worrisome to mortgage lenders.”
“Strategic defaulters who walk away from their property, however, may have more to worry about than the morality and ethics of their action. They’ll face a blemish to their credit score; and in some states, lenders may still be able to pursue them in court in what’s known as a “deficiency judgment” seeking a full repayment of the mortgage balance.”

Real Estate Activity This Week

New listing at 210 Daniel Dr in Seagull Estates

We saw a reduction in the number of showings this week which is typical after New Year’s week visitors go home, still had fairly good action though. I showed entry-level condos one day and finally got a condo sale together after a few weeks of negotiation. Lisa and David also had an excellent turn-out at our Caravan Open House in Seagull Estates yesterday.

This observation may be premature, but I am thinking that in certain areas/property types, we are beginning to see fewer new listings and more sales. Wouldn’t it be great for demand to finally eat up some of the abundant supply?

Sanibel & Captiva Multiple Listing Service Activity January 6-13

Sanibel
CONDOS
4 new listings: Sanibel Arms #D2 1/1 $229.5K, Sanibel Moorings #1512 2/2 $429K, Sea Pines #D 3/3 $499K, Loggerhead Cay #583 2/2 $569K.
5 price changes: Sundial #H108 1/1 now $249K, Lake Palms #7 2/2.5 now $299K, Loggerhead Cay #432 2/2 now $459K, Compass Point #213 2/2 now $579K, Sanctuary Heron #2B 3/3.5 now $610K, Surfside 12 #C4 3/2 now $825K.
5 new sales: Sundial #G206 1/1 listed for $279.9K, Blind Pass #G102 2/2 listed for $389K, Loggerhead Cay #422 2/2 listed for $422.5K, Loggerhead Cay #513 2/2 listed for $899K, Plantation Village #B122 3/3 listed for $1.895M.
2 closed sales: Colonnades #10 1/1 $160K, Loggerhead Cay #422 2/2 $422.5K, Tarpon Beach #201 2/2 $572.5K.

HOMES
3 new listings: 1610 Sabal Sands Rd 3/2 $534.9K, 1170 Sandcastle Rd 3/2 $619K, 5820 Pine Tree Dr 2/2 $695K.
8 price changes: 2130 Sunset Cir 3/2 now $569K, 9454 Calla Ct 3/2 now $618,816, 557 N Yachtsman Dr 4/3 now $729K, 4960 Joewood Dr 4/3 now $799K, 1111 Schooner Dr 3/3 now $899.9K, 919 Almas Ct 3/2.5 now $1.225M, 4630 Rue Bayou 4/4 now $1.285M, 760 Periwinkle Way 3/2.5 now $1.499M, 1310 Seaspray Ln 5/4.5 now $3.695M.
9 new sales: 9003 Mockingbird Dr 5/4 listed for $499.9K (short sale), 1773 Bunting Ln 3/2 listed for 579K, 935 Lindgren Rd 3/2 listed for $599K, 244 Christopher Ct 3/2 listed for 599.9K, 450 Sea Walk Ct 4/3 listed for $624.9K, 1019 Lindgren Rd 3/2 listed for $739K, 970 East Gulf Dr 3/4.5 listed for $763K (short sale), 3746 West Gulf Dr 4/4.5 listed for 1.249M, 598 Kinzie Island Ct 3/3.5 listed for $1.595M.
3 closed sales: 1797 Serenity Ln 2/2 $285K (our listing), 1436 Sandpiper Cir 2/2 half-duplex $300K, 1123 Sandcastle Rd 3/2 $500K.

LOTS
1 new listing: 1226 Isabel Dr 1.8M.
No price changes.
No new or closed sales.

Captiva
CONDOS
1 new listing: Tennis Villas #3121 1/1 $225K.
No price changes.
1 new sale: Sunset Beach Villas #2224 2/2 listed for 635K

No closed sales.

HOMES
1 new listing: 56 Sandpiper Ct 2/2.1 $699K.
1 price change: 11516 Andy Rosse Ln 6/6 now $2.345M.
3 new sales: 16891 Captiva Dr 3/2 listed for $1.389M, 11531 Andy Rosse Ln 4/4 listed for $1.4999M, 16205 Captiva Dr 4/4 listed for $1.795M, 16742 Captiva Dr 3/3 listed for $2.795M.
1 closed sale: 11537 Andy Rosse Ln 4/4 $1.975M.

LOTS

No new listings or price changes.
1 new sale: 11515 Gore Ln listed for $595K.

No closed sales.

Whether you are off to enjoy a 3-day weekend or not, here’s hoping it’s a good one. SanibelSusan will be open to help you with your island real estate needs every day!

Quick Weather Update

Easter Weekend Happenings

Taxing Issues

Coastal Zone Protection Change Benefits Resorts

Springtime & Baby Birds

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

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What’s Happening on the Islands This Week

Controlled Fire Planned at The Refuge Tomorrow

Top Markets for International Home Buyers

Have Home Prices Finally Reached Bottom?

Realtor® – Just to Set the Record Straight

How Important Is the Kitchen

Four Home Technologies for Energy Efficiency

Sanibel & Captiva Multiple Listing Service Activity March 23-30

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Thursday Realtor® Caravan Meeting

What’s Happening at SanibelSusan Realty

Statistics on Sanibel & Captiva Sales as of March 16

Fed Notes Better Economy, Takes No Policy Action

Sanibel & Captiva MLS Activity March 9-16

Happy Saint Patrick’s Day tomorrow to all of our Irish friends, SanibelSusan

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Realtor Caravan Meeting

Sanibel Public Library Earns Top Honors in National Study

Upcoming Events

Sanibel & Captiva Multiple Listing Service Activity March 2 – 9

Until next Friday, here’s to enjoying your March weather wherever you are.

On Sanibel & Captiva Islands, it came in like a lamb. TGIF SanibelSusan

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Sanibel and Captiva Real Estate Summary

Buffett: ‘I’d Buy Up a Couple Hundred Thousand’ Homes

Florida Real Estate Loses Its Thumbs-up in Fed’s Beige Book

Sanibel & Captiva MLS Activity February 24 – March 2

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New Island Eatery

Interest Rates Remain Low

Rotary Club of Sanibel-Captiva “Arts & Crafts Fair”

Shellabration 2012

Sanibel & Captiva Multiple Listing Service Activity February 10-17

Until next week, here’s to happy shelling and selling, SanibelSusan

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Shellabration 2012 Begins

More Deals Falling Through

Sanibel & Captiva Island Real Estate Activity This Week

Multiple Listing Service Activity February 3-10

If you are on the island this weekend, be sure to stop in,

I’ll be in the office both days,

SanibelSusan

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Sanibel School #1 in State

Sanibel Brazilian Pepper, Final Zone Pick-Up Scheduled

NAR’s Confidence Index Shows Upswing

The Minimum Credit Score

Baby Boomers Geared Up To Move

Sanibel Real Estate Activity This Week

Sanibel & Captiva Multiple Listing Service Activity January 27 – February 3

Sending good Super Bowl wishes your way, SanibelSusan

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Florida Realtors® Posts Housing Market Indicators

The SCCF Signs Are Clean

If You Are Lucky Enough to Be Here

Sanibel & Captiva Multiple Listing Service Activity January 6-13

Until next Friday, here’s hoping your days are as bright as our forecast on sunny Sanibel Island, :-) SanibelSusan

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Frommer’s Favorite 10 Destinations

Local Installation & Awards Banquet

Fishermen Mark Your Calendars

Free Refuge Days

‘Strategic Default’ Poses Ethical Question

Real Estate Activity This Week