Tag Archives: CoreLogic

The Friday Before Christmas on Sanibel & Captiva Islands

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All is well on Sanibel and Captiva Islands with picture-perfect weather all week. However, thanks to a cool front today, temperatures have dropped into the 60’s and it is only expected to be in the 30’s tonight. It is breezy but with bright blue skies. Just that little bit of change excites islanders looking forward to digging out their sweaters for a couple of days each winter. We can put them away quickly though, as it is expected to be back into the high 70’s by Christmas eve and the low 80’s by Christmas day. 

Here are photos of a few island-style Christmas trees. Sanibel and Captiva Islands may be snow-less, but they are festive!

At Timbers Fish Market

At Timbers Fish & Seafood Market on Sanibel

The Sanibel Grill

Entry to The Sanibel Grill on Sanibel, note the water dish

Normandie Seaside Pub, Sanibel

Normandie Seaside Pub, Sanibel

In The Sanctuary Golf Clubhouse, Sanibel

In The Sanctuary Golf Clubhouse, Sanibel

‘Tween Waters Resort on Captiva

At the Mucky Duck Beach on Andy Rosse Lane, Captiva

At the Mucky Duck Beach on Andy Rosse Lane, Captiva

South Seas Resort, Captiva

South Seas Resort, Captiva

Near South Seas Resort entrance on Captiva

Near South Seas Resort entrance on Captiva

Bismark palm on Captiva Drive

Bismark palm on Captiva Drive

Charlie Brown tree on Captiva Drive

Charlie Brown tree on Captiva Drive

At SanibelSusan Realty Associates

At SanibelSusan Realty Associates

SanibelSusan's Charlie Brown tree at home

SanibelSusan’s Charlie Brown tree at home

Sanibel & Captiva Real Estate Action This Week

SANSLogoWe had a few listings shown this week and a fair turn-out at yesterday’s Realtor® caravan. I had a double-dip closing on Tuesday (both listed and sold), then was out showing property too. Dave held an open house at our Sundial listing on Tuesday and Loggerhead Cay today. I have been negotiating on an offer this week that got finalized today, so all-in-all, a productive week for SanibelSusan Realty Associates, even with the holiday distractions.

Polar Bear Plunge Coming Up

Old Polar Bear PlungeAs reported in the “Island Sun”: 

“For those who are on-island for New Year’s, the 13th annual meeting of the Sanibel-Captiva Chapter of the National Polar Bear Club will take place at noon on January 1 at Tarpon Bay Beach. When the club started in 2000, just 29 people showed up to brave taking a dip in the Gulf of Mexico. Last year, more than 350 bears took the plunge. The meeting begins with the singing of the traditional Polar Bear anthem by the Cubbies (1st-timers), Juveniles (1-time previous dippers) and seasoned Adult bears (those who took the plunge in previous years). The bears then enter the Gulf waters backwards, facing the huge crowd of supporters, on-lookers, tourists, and Mice (those who wished they had the courage to join in). Following the traditional Polar Bear group huddle/hug (a body-warming activity), participants will have an opportunity to sip from the giant Polar Bear champagne glass, have their picture taken in the infamous shell pith helmet, and engage in story-telling about their heroic experience with fellow Polar Bears from around the world. Everyone is welcome to attend the Polar Bear plunge, now considered an island tradition (which costs nothing to participate).”

A Few Energy-Saving Tips

Green-Energy-TipsThere were some timely reminders in the Lee County Electric Coop newsletter this month. You can conduct your own energy survey through their website at http://www.lcec.net. These tips and tricks may be helpful too:

  • “Keep the oven door closed. When you have to “sneak a peek” at the turkey or cookies, turn the oven light on and look through the window.
  • Cook with glass or ceramic pans. They heat faster, and you can set the temperature 25 degrees lower.
  • Use crock pots, microwave, and toaster ovens, when possible. They all use less energy than the oven.
  • Gently remind guests to turn off lights and fans when they leave a room. Remember, fans do not actually cool your home they only circulate the air, making you feel cooler.
  • Switch holiday lights to LED and set on a timer to reduce the amount of time you use them.”
  • “Washers – only run full loads; wash in cold water whenever possible; unplug or use circuit breaker to shut off power to washer when not in use; if possible, move washer close to your water heater to help retain heated water in pipes; always rinse in cold water, it has not effect on the cleaning of clothes; adjust waters levels to laundry load size on your washer, if possible; invest in an energy-saving washer.”

15-Year Mortgages Gain Popularity With Buyers

wall street journalAs follow-up to a “Wall Street Journal” article earlier in the week, “Daily Real Estate News” posted the following yesterday:

“Record-low rates are driving more borrowers to seek shorter term mortgages. Freddie Mac reports that nearly 16% of the fixed-rate mortgages that lenders sold to the agency during the 3rd quarter were comprised of 15-year mortgages. That’s up from nearly 10% a year ago. The data excludes mortgages for refinancing. For refinancing, 15-year mortgages accounted for nearly a third of loans during the first seven months of this year, according to CoreLogic. “The 30-year mortgage became the standard in lending because its lower monthly payments made real estate affordable to more Americans,” The Wall Street Journal reports. “While the 30-year remains king, the gap between the two loans’ popularity is shrinking.”

“Fifteen-year fixed-rate mortgages have recently averaged 2.81% — compared to 5.85% in mid-December 2007, according to HSH.com, a mortgage information Web site. Some refinancers are finding that by switching from a 30-year to a 15-year fixed-rate mortgage they are able to not only get big savings on the life of their mortgage but also even slightly lower monthly payments. Traditionally, refinancing into a shorter-term mortgage meant paying a heftier monthly payment. But with mortgage rates so low, some home owners are finding the monthly payment isn’t increasing and may actually be less by shortening the terms of their mortgage.”

Captiva 2013-2014 Re-nourishment Project

CaptivaThe Captiva Erosion Prevention District announced recently that it is accepting bids for its 2013-2014 re-nourishment project. This project consists of placing approximately 877,000 cubic yards of beach fill along six miles of shoreline and rehabilitation of existing dunes from Redfish Pass to Blind Pass and also a portion of northern Sanibel. The work will start between June 1 and September 1 and be completed by December 31, 2013. For more info, go to www.mycepd.com.

Agents Prepare Homebuyers to Compete

FLRealtors_newlogoThe islands have not yet seen the swing from buyers’ market to sellers’ market, but the following article posted this week on FloridaRealtors® was a good read nonetheless. My Realtor® friends in Miami already are seeing multiple offers. Here’s hoping our area is next:

“House buyers in a growing number of areas are finding something they haven’t seen in years when house-hunting: Competition. With housing affordability high and mortgage rates low, homebuyers are ready to cash in – but they’re finding a lot of others are as well. Bidding wars are becoming more common, particularly as the inventory of for-sale homes remains constrained across the country.

““Buyers have to change their attitude about the way the market is,” says Carol Hooks, a real estate professional with Coldwell Banker Residential Brokerage in Alexandria, Va. “Many still think it’s OK to make a low offer and ask for closing-cost assistance, but they really need to come up with a good, realistic offer….

“Real estate professionals are helping to prepare their buyers for the increased competition. For example, they’re encouraging buyers to go through the mortgage-approval process and secure financing before they look for a home, armed with more than just a lender’s prequalification letter. Eldad Moraru with Long & Foster Real Estate in Bethesda, Md., says it’s important for buyers to find a lender who will be able to provide them with an approval letter within an hour of finding the home they want to purchase. The new letter should include the address of the property and the exact amount they plan to offer so they can attach it to the offer.

“Homebuyers also need to have their earnest money deposit and down-payment ready to go, Moraru says. “A lot of buyers will have some money in stocks to sell and some money in a checking account and will tell me they need a few days to get it together,” he said. “You need to have that money consolidated and accessible in one account before you find a house.” As competition heats up, buyers need to prepare to think fast.

“If (the buyer) moves fast enough, (they) can have a home inspection before (they) make an offer, and then waive the home-inspection contingency,” Moraru says about being competitive in some multiple bid situations if you know when the seller is going to be reviewing all offers.

“Some agents compare today’s competitive housing market to the process of dating. “You need to win on both looks and personality,” says Phil Bolin, a broker with RE/MAX Allegiance in Alexandria, Va. “The personality part is the fundamental issue of financing and down-payment, but the looks part doesn’t cost you anything. It can be as simple as making sure there are no mistakes in your contract. If there are mistakes or missing items in your offer, you don’t look like a serious buyer.””

Sanibel & Captiva Island Multiple Listing Service Activity December 14-21

Sanibel
CONDO
1 new listing: Sundial #K108 3/2 $1.1M.
No price changes.
2 new sales: Blind Pass #A105 listed for $395K, Compass Point #141 3/2 listed for $899K (our listing).
1 closed sale: Sanibel Arms West #M7 2/2 $398K (our listing & sale).

HOMES
6 new listings: 1401 Sandpiper Cir 3/2.5 half-duplex $419K, 2079 Wild Lime Dr 3/2 $525K, 395 Old Trail Rd 4/3 $599K, 617 East Rocks Dr 3/2 $625.9K, 1339 Par View Dr 3/2 $680K, 512 Periwinkle Way 3/3 $1.075M.
8 price changes: 4629 Brainard Bayou Rd 3/2 now $539K, 5296 Umbrella Pool Rd 4/4 now $549.9K, 1441 Causey Ct 3/2 now $725K, 3840 West Gulf Dr 3/2.5 now $739K, 2540 Coconut Dr 4/3.5 now $740K, 2729 Wulfert Rd 4/4.5 now $1.298M, 4717 Rue Belle Mer 3/3 now $1.895M (short sale), 505 Kinzie Island Ct 5/4.5 now $2.195M.
4 new sales: 1807 Serenity Ln 3/2 listed for $574K, 549 East Rocks Dr 3/2.5 listed for $795K, 1314 Isabel Dr 4/3.5 listed for $2.094M, 4689 Rue Belle Mer 3/2 listed for $2.295M.
5 closed sales: 1000 Greenwood Ct 3/2.5 half-duplex $322K, 760 Birdie View Pt 4/3.5 $769K (short sale), 1824 Woodring Rd 4/4 $1.025M, 6211 Starling Way 4/4.5 $1.95M, 1145 Bird Ln 5/5 $4.275M.

LOTS
1 new listing: 644 Sea Oats Dr $315K.
3 price changes: 5121 SanCap Rd now $249K, 6006 White Heron Ln now $749K, 837 Limpet Dr now $885K (our listing).
1 new sale: 659 Anchor Dr $448.5K.
No new sales.

Captiva
CONDO
No new listings.
1 price change: Gulf Beach Villas #2004 2/2 now $659K.
2 new sales: Marina Villas #801 2/2 listed for $552K, Sunset Beach Villas #2228 2/2 listed for $600K.
No closed sales.

HOMES
1 new listing: 11532 Wightman Ln 2/2 $1.475M.
No price changes, new or closed sales.

LOTS
Nothing to report.

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

Merry Christmas!

TopofLighthouse

Sanibel & Captiva Islands Mid-September Real Estate Update

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At the Fulgur Street beach access looking east 09-14-12

It has been another fairly quiet week on the islands, but plenty of pre-season work is evident everywhere.

New elevator at Sanibel Siesta 09-14-12

I heard the first reports yesterday of business picking up with winter vacation rentals. That activity usually means temperatures are dropping up north and folks are starting to plan their winter getaways.

At the Fulgar St beach access looking west over a turtle nesting area 09-14-12

At the Fulgur St beach access looking west over a turtle nesting area 09-14-12

The first snow bird returned on my street this week too. Those who homestead most likely will be back early, to vote.

Just a handful of sales and new listings were announced at our Realtor Caravan Meeting yesterday, but attendance was up – another indicator that “season” is just around the corner. Elise’s report below the MLS activity this week. Lisa and Dave were out previewing new inventory yesterday and I am working on the class I will be teaching at the Association Office next week on the Resort and 2nd-Home Market as part of the Sanibel & Captiva Islands Specialist Designation. Quite a few Realtors®, including some well-experienced ones, are signed up so I am digging deep. Should be fun!

Another Sign That Home Prices Have Hit Bottom

This article from “Daily Real Estate News” this week was sourced to “The Wall Street Journal”: “Economists are increasingly confident that home prices have bottomed out. 

“For the last three years, home prices have usually risen in the spring and summer to only then lose all of those increases—plus more—in the fall and winter months. However, economists expect this year to be different and do not foresee such a big drop to occur to home prices in the colder months ahead, The Wall Street Journal reports. While the fall months likely will bring out some sort of decrease in recent home price increases, “we have a much better supply and demand dynamic” than in previous years, Mark Fleming, CoreLogic’s chief economist, told The Wall Street Journal. Home prices have posted some of their largest year-over-year jumps compared to the last six years. 

“According to CoreLogic, home prices have risen 9.6% from February, which was the month prices reached their lowest levels since the housing slowdown. Economists say it’s unlikely that, given recent indicators, home prices will reverse course steeply and fall 9.6% or even more in the coming months. Home prices haven’t dropped by that type of percentage since the economy was in a recession.”

Americans Keep Feeling Better About Housing

An article posted on Florida Realtors® on Tuesday says: “Consumer sentiment regarding the housing market continues its modestly positive trend, according to Fannie Mae’s August 2012 National Housing Survey.

“Americans maintained a cautious but improving outlook on the housing market and homeownership. In August, more people said it’s a good time to sell, and more expect housing prices to rise over the next year. However, Fannie Mae says stalling household financial expectations and declining economic optimism likely mean the housing market recovery rate will remain tempered. “Consumer attitudes toward the housing market remain modestly positive, despite signs of increased concern over the direction of the economy,” says Doug Duncan, senior vice president and chief economist of Fannie Mae.

“Survey respondents expect home prices to increase 1.6% in the next year, on average, down slightly from the high of 2.0% in June. The number of respondents who expect home prices to decline totaled 11% – the lowest level since the survey began in June 2010. Eighteen percent say it’s a good time to sell, marking the highest level since the survey’s inception. Regarding mortgage rates, 40% expect a rise in the next 12 months, an increase of 4% points over July.

“Meanwhile, the survey showed increasing consumer pessimism about the direction of the overall economy. The number of respondents who believe the economy is headed in the wrong direction ticked up 2% points to 60%, the third consecutive rise and the highest reading since January. Those who expect their financial situation to worsen dipped to 13%, while those expecting their situation to remain the same increased modestly to 41%.”

Upcoming Island Events

Sept 15 – Tomorrow is the 27th Annual Coastal Cleanup “Keep Lee County Beautiful”. Be at the SCCF (Sanibel-Captiva Conservation Foundation) Nature Center at 3333 Sanibel-Captiva Road at 9 a.m. to participate.

Oct 3 – Bailey-Matthews Shell Museum’s 3rd Annual Celebrity Island Dinner at Trader’s Cafe & Store.

Oct 6 – Annual Blue Ribbon Golf Classic fundraiser for The Sanibel School at The Sanctuary Golf Club. The Sanibel School has earned the Blue Ribbon Designation, as well as an “A” rating, for the past 11 years.

Oct 13 – FISH (Friends in Service of Sanibel) have announced open registration for the 4th annual 10K Race 4 FISH to take place on Saturday, October 13. The event is a major fundraiser for FISH with more than 400 runners are expected this year. www.fishofsanibel.com/fish-10k

Oct 15-Dec 1 – BIG ARTS World of Fashion Exhibit www.BIGARTS.org

Sanibel City Budget

Last Saturday, Sanibel City Council worked at a special session to further reduce a budget that is almost $10M less than last year’s and about $19M less than was actually spent. City taxes account for about 16% of a property owner’s total tax bill.

A few highlights of the tentative budget according to the “Island Sun” include:

  • ·       “Proposed millage of 2.1398 is 53% less than the rolled-back rate.
  • ·       “City salaries remain flat for the 5th consecutive year.
  • ·       “Full-time employees reduced from 142 in 2007 to 114 in FY13.”

2012 TRIM Notices

Today is the last day to appeal Lee County 2012 tax assessments. They are available on-line at www.leepa.org.

 
Sanibel and Captiva Multiple Listing Service Activity September 7-14

 
Sanibel
CONDOS
4 new listings:  Island Beach Club #P1E 2/2 $649K, Coquina Beach #2E 2/2 $675K, Sandpiper Beach #404 2/2 $695K, Pointe Santo #B25 2/2 $785K.

The Colony Resort aka Colonnades

1 price change:  Colonnades #47 1/1 now $130K (our listing).

 

Pointe Santo C43 view

4 new sales: Blind Pass #B102 2/2 listed for $359K, Sanibel Arms West #K3 2/2 listed for $399K, Loggerhead Cay #232 2/2 listed for $498.7K, Pointe Santo #C43 3/2 listed for $949K (our buyer).


1 closed sale:  Sundial #G107 1/1 $215K.

HOMES
1 new listing:  3344 Twin Lakes Ln 3/2 $629,977.
6 price changes:  1121 Skiff Pl 3/2 now $589K; 445 East Gulf Dr 3/2 now $609K; 2540 Coconut Dr 4/3.5 now $772K; 6001 Clam Bayou Ln 3/2 now $875K; 848 Limpet Dr 3/2.5 now $1,199,999; 2899 Wulfert Rd 4/4/2 now $2.898M. 
5 new sales: 1647 Sand Castle Rd 3/2.5 half-duplex listed for $325K, 1000 Greenwood Ct 3/2.5 half-duplex listed for $347.5K, 1211 Periwinkle Way 3/2 listed for $349.9K, 1753 Bunting Ln 3/2 listed for $479.8K, 3825 West Gulf Dr 3/2 listed for $2.35M.
3 closed sales:  731 Nerita St 3/2 $475K, 1232 Isabel Dr 3/3 $1.85M, 615 Lighthouse Way 3/4.5 $2.1M.

 
LOTS
1 new listing:  3761 Coquina Dr $350K.
No price changes, new or closed sales.
 
Captiva
CONDOS
Nothing to report.

HOMES
No new listings.
1 price change:  17201 Captiva Dr 4/5.5 now $4.1M.
1 new sale: 11516 Andy Rosse Ln 5/5 listed for $1.999M.
1 closed sale:  53 Sandpiper Ct 2/2.5 $590K.

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.