Susan here reporting another busy real estate week at SanibelSusan Realty with a home inspection last Saturday, a new listing, two new sales, and follow-up action items completed on other sales scheduled to close soon.
With inventory still soooo low, it remains challenging to find properties that match buyers wants/needs. That means new well-priced listings sell fast. We continue to sleuth out new ones as our list of potential buyers gets longer and longer.
The Sanibel & Captiva Islands Association of Realtors® had no Caravan Meeting yesterday, but below is an update of island inventory per their Multiple Listing Service (9/24/21).
|
SANIBEL |
Condos | Homes | Lots | |||
| # | Avg Price $ | # | Avg Price $ | # | Avg Price $ | |
| For sale | 19 | 856,855 | 23 | 2,830,195 | 18 | 583,888 |
| Under contract | 20 | 739,435 | 33 | 1,672,374 | 7 | 475,776 |
| Sold/closed thru 9/23 | 229 | 864,406 | 290 | 1,308,341 | 61 | 746,795 |
| Sold/closed last year | 192 | 733,876 | 290 | 954,718 | 23 | 606,233 |
|
CAPTIVA |
Condos | Homes | Lots | |||
| # | Avg Price $ | # | Avg Price $ | # | Avg Price $ | |
| For sale | 3 | 1,496,666 | 10 | 6,297,800 | 0 | N/A |
| Under contract | 6 | 2,040,333 | 2 | 2,347,499 | 0 | N/A |
| Sold/closed thru 9/23 | 48 | 1,118,977 | 37 | 2,781,632 | 2 | 2,950,000 |
| Sold/closed last year | 47 | 821,713 | 27 | 2,923,148 | 4 | 2,537,500 |
Note: Prices of units “For sale” and “Under contract” are asking prices.
Next week is the Association monthly membership meeting with a presentation on the National Flood Insurance Program’s new Risk Rating 2.0. Expect to see an update next Friday on how this new risk rating methodology is expected to affect flood insurance. It will apply to any new policies written after Oct 1, plus renewals.
The complete action posted this week in the Sanibel/Captiva MLS follows a few news items.
National Public Lands Day at J.N. “Ding” Darling National Wildlife Refuge
There will be no admission charge tomorrow (Saturday Sep 25) on Wildlife Drive (from 7 a.m. to 7 p.m.) in celebration of National Public Lands Day. The refuge staff also will be awarding a free one-day pass (good for a year) to any national wildlife refuge, national park, and other federal lands to visitors who collect a bag of trash at the refuge.
Tomorrow, visitors also are invited to the Welcome Table outside the Visitor & Education Center from 9.a.m. to 2:30 p.m. to tour the WoW (Wildlife on Wheels) mobile interactive experience and play fee games in the parking lot.
Interest Rates Rising? In November, Fed May Start Reversing Programs
Posted on-line yesterday at FloridaRealtors® and sourced to “Human Events”:
“The Federal Reserve hinted it may start reversing its pandemic stimulus programs come November – and it could raise interest rates next year. According to the Wall Street Journal, the Fed’s rate-setting committee revised its post meeting statement Wednesday to say that it may start to reduce or taper its $120 billion in monthly asset purchases as soon as its next meeting in early November.
““If progress continues broadly as expected the Committee judges that a moderation in the pace of asset purchases may soon be warranted,” the statement said. New estimates released at the end of the two-day meeting showed half of 18 officials expect to raise interest rates by the end of 2022.
“When the pandemic hit in March of 2020, the Fed cut its short-term benchmark rate to close to zero, and it has been purchasing at least $80 billion a month in Treasury and $40 billion a month in mortgage bonds since June of 2020 to provide additional stimulus.
“Per the Journal: Fed officials laid out a three-part test to raise interest rates one year ago that would require inflation to reach 2% and be on course to exceed that while the labor market returns to levels consistent with maximum employment.
“In December, they said they would buy bonds at the current pace until the economy had made “substantial further progress” toward their goals of reversing a shortfall, then of around 10 million jobs since the start of the pandemic and moving inflation back to their 2% goal over time. The Fed’s asset portfolio has doubled to $8.4 trillion from $4.2 trillion in February 2020.
“Rising vaccination rates and nearly $2.8 trillion in federal spending approved since December has produced a recovery like none in recent memory. Inflation has soared this year, with so-called core prices that exclude volatile food and energy categories up 3.6% in July from a year earlier, using the Fed’s preferred gauge. The gains largely reflect disrupted supply chains, shortages and a rebound in travel associated with the reopening of the economy.
“Wednesday’s projections show half of the officials expected interest rates would need to rise at least 1% from their current level by the end of 2023, and by another three-fourths of a percentage point in 2024.”
Florida-Owned Insurer: Losses and Policies Keep Growing
Also posted yesterday on FloridaRealtors® on-line and sourced to “News Service of Florida”: “Citizens Property Insurance expects to exceed more than 1M policies sometime in 2022 – and private insurers will rack up more than 1B in losses by the end of this year.
“TALLAHASSEE, Fla. – Citizens Property Insurance Corporation’s policy count will surpass 1 million next year as private market insurers continue to experience losses expected to reach nearly $1 billion by the end of 2021. Speaking to Citizens Board of Governors, Citizens President, CEO and Executive Director Barry Gilway on Wednesday warned that as Citizens’ policy count grows, so does the risk of assessments on all Florida insurance consumers. A fee could be added to all policies if a major storm or series of storms hits, and causes Citizens to exhaust its $6.4 billion surplus.
“Created as Florida’s insurer of last resort, Citizens is taking on more than 5,000 policies a week as private companies continue to shed policies in response to losses brought on by litigation, damage from Hurricanes Irma and Michael, more expensive reinsurance and other factors. “Citizens is considering all ideas to reduce exposure, and to continue to operate as efficiently as possible during this unprecedented growth period,” Gilway said.
“During committee meetings Tuesday, Citizens officials outlined a series of options to stem growth, including marketing and technology upgrades to the Florida Market Assistance Plan, which was created by the Florida Legislature to refer potential policyholders to private market coverages. Citizens officials are taking steps to reduce risk by increasing inspections on new business and exploring potential changes to Citizens Depopulation Choices and Property Insurance Clearinghouse programs. Such changes would require legislative consideration.
““At this point, everything is on the table as we try hard to support the development of a stronger private insurance market and stabilize the role of Citizens as the market of last resort,” said Gov. Nelson Telemaco, chairman of Citizens’ Exposure Reduction Committee.
“Since October 2019, Citizens has seen its policy count jump from 420,000 to more than 700,000. At this pace, company officials expect the policy count to exceed 760,000 by the end of 2021. Initial estimates call for Citizens’ policy count to reach 1.1 million to 1.3 million by year-end 2022.
Citizens’ policy count reached a peak of nearly 1.5 million in 2011 with nearly $520 billion in exposure. If the state was hit by a 1-in-a-100-year storm during that time, all Florida insurance consumers would have been on the hook for $24 billion in assessments, which would have been tacked onto their monthly premiums for years.”
Temporary Restaurant Closings
The list of temporary restaurant closings is getting shorter as some have reopened following annual vacations, deep cleans, fix-ups, etc. Most of the others reopen week. Below are the ones still closed.
- Bleu Rendez-Vous Bistro – closed thru Sep 30, reopens Oct 1.
- Island Pizza – closed thru Sep 29, reopens Sep 30.
- Mad Hatter – closed thru Sep 30, reopens Oct 1.
- The Sandbar Steak & Seafood – closed thru Sep 29, reopens Sep 30.
- Traders – closed Sep 11 thru Oct 5, reopens Oct 6.
- Traders 2 (T2) – closed thru Oct 4, reopens Oct 5.
Fall Weather on Sanibel
This week, with the first day of fall, there were plenty of social media jokes about how autumn weather on the Gulf Coast (Florida) is much the same as the rest of the year. That is not exactly true. Here the rainy season is letting up a little and the temperatures are dipping down a little lower at night. With a little luck, there will be a day in the not-too-distant future with daytime temperatures only in the 80’s, and nights into the 60’s. Meanwhile, the humidity is dropping a tad too. This afternoon, with plenty of sunshine, I stopped to get a couple of photos at the Nerita Street beach access.



The sky is blue with a few popcorn clouds, the water is clear (still no flows coming from Lake O, just run-off), but there was no one on the beach in either direction. That likely will change in the next few weeks as the early snowbirds start returning.
Sanibel & Captiva Islands Multiple Listing Service Activity September 17-24, 2021
Sanibel

View from Mariner Pointe #1061
CONDOS
4 new listings: Sundial #C305 1/1 $549,945; Sundial #D304 1/1 $595K; Donax Village #9 2/2 $699K; Mariner Pointe #1061 2/2 $724K (our listing).
No price changes.
3 new sales: Blind Pass #A206 2/2 listed at $565K, Sanibel Arms #F3 1/1 listed at $599K (our listing), Sanibel Arms West #F6 2/2 listed at $1.049M.
3 closed sales: Breakers West #C3 2/2 $775K, Sanibel Arms West #C6 2/2 $915K, Island Beach Club #330B 2/2 $990K.
HOMES
No new listings or price changes.
6 new sales: 1025 S. Yachtsman Dr 3/2 listed at $820K; 5298 Umbrella Pool Rd 3/2.5 listed at $995K; 554 East Rocks Dr 3/2 listed at $999,995; 682 Pyrula Ave 5/4.5 listed at $1.995M; 375 East Gulf Dr 5/5 listed at $2.9M (our listing); 1237 Isabel Dr 6/6.5 listed at $2.995M
6 closed sales: 1444 Sandpiper Cir 2/2 half-duplex $479K; 1846 Ardsley Way 2/2 $701,498; 9032 Mockingbird Dr 3/2 $740K; 4506 Bowen Bayou Rd 3/2 $819K; 5817 Sanibel-Captiva Rd 4/2 $1.09M; 2475 Tropical Way Ct 3/3.5 $2.34M.
LOTS
1 new listing: 554 Lake Murex Cir $699K.
No price changes.
1 new sale: 470 Sawgrass Pl listed at $795K.
No closed sales.
Captiva
CONDOS
No new listings or price changes.
1 new sale: Captiva Bay Villas #E 3/3.5 listed at $3.549M.
3 closed sales: Beach Villas #2414 2/2 $875K, Marina Villas #905 2/2 $875K, Seabreeze #1251 3/3 $1.9625M.
HOMES
No new listings.
1 price change: 11559 Laika Ln 4/3.5 now $6.9M.
1 new sale: 11520 Murmond Ln 5/5 listed at $1,999,999.
2 closed sales: 10 Sunset Captiva Ln 2/2.5 $1.395M, 1072 South Seas Plantation Rd 3/3.5 $3.25M.
LOTS
Nothing to report.
This representation is based in part on data supplied by the Sanibel & Captiva Islands Association of Realtors® Multiple Listing Service. Neither the association nor its MLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or its MLS may not reflect all real estate activity in the market. The information provided represents the general real estate activity in the community and does not imply that SanibelSusan Realty Associates is participating or participated in these transactions.
Until next Friday, enjoy your fall!
Susan Andrews, aka SanibelSusan
Lee County Schools begin their fall session Tuesday (August 10), while the last day of the school year will be later than usual next spring, on Thursday, June 2. 
There has not been a lot of new real estate action this week, probably weather and summer-time related, but likely because inventory continues to be low. At the Sanibel & Captiva Islands Association of Realtors
The Sanibel School is accepting new students and does not require that they live on-island. With an “A” rating and designated a School of Excellence by the Florida Department of Education, the K-8 campus provides an exceptional learning environment for its students, and the array of programs available is comparable with even the largest schools in the district. For more about enrollment and the waiver process, or to set up a tour, call registrar Donna Marks at 239-472-1617 or email
Sanibel received notice this week from Lee County of scheduled preventative maintenance work at the Sanibel Toll Facility. Work will be performed beginning Monday, August 23, between 7:30 a.m. and 5 p.m. Monday through Saturday and is expected to continue until September 3. No work will be done during Labor Day weekend.
Usually, mid-August is when the Lee County Property Appraiser’s office mails out annual TRIM notices to property owners. TRIM stands for “Truth in Millage” and is the official notice, required by state law, of the proposed property taxes.
Sanibel’s draft budget for the next fiscal year – October 1, 2021 through September 30, 2022 was prepared with an operating millage rate of 1.8922 which is the same rate that was assessed to taxpayers last year. The City Finance Director recently advised City Council that the 2021 budget was prepared when the effects of the pandemic on economy were unknown. Since then, better-than-expected revenues and expense-saving initiatives in preceding years have put the City in a good economic position heading into this budget cycle. The 2022 draft budget is 12.1% higher than the adopted budget for fiscal year 2021.
As posted this week in “News from “Ding” Darling Wildlife Society: “For the first time since pandemic lockdown, Tarpon Bay Explorers, the Refuge recreation concession, has resumed its Breakfast Cruises and Touch Tank sessions. The morning cruises which run Wednesdays at 8:30 a.m., tour around Tarpon Bay in pursuit of wildlife such as birds, manatees, and dolphins. Participants enjoy a continental-style breakfast during the cruise, including freshly made doughnuts from Bailey’s General Store with coffee, tea, or orange juice. The last half hour is spent at the Touch Tank where guests get a hands-on experience to learn about the wildlife that lives beneath bay waters.”
Those visiting Captiva might want to take note of the following parking lot closures from the island beach re-nourishment project underway. Designed to last about eight to ten years, the re-nourishment project is expected to provide the necessary maintenance to counteract long-term critical erosion of Captiva’s beaches, properties, and shorelines.
The Rec Center was closed this week and will remain closed through Sunday (August 8) to complete annual maintenance projects. It reopens Monday August 9.
Sanibel
















On Tuesday, City Council met for their
I got a call this week from our local Association of Realtors® President. He was querying our brokers to see how we are handling business
This week, the Communications and Public Relations Committee issued a challenge for members to donate food goods to F.I.S.H. of San-Cap. It kicked off with a committee member challenging three other Association members via Facebook with those challenged to challenge three others. Photos are posted as contributions are delivered.
Her prospect liked seeing the exterior, so asked to also see inside. So, I met her there later so she could Skype the interior. It was more time-consuming than an actual showing since the property is empty, so she had
Teammates Dave and Lisa are at home, while I have been manning the office with Teammate Elise covering three mornings again this week. Our team communication continues by email and text, which is not unlike our normal work routine.
Activity May 1-8, 2020
Sanibel is expecting some much-needed rain on Sunday!






Our local Honor Society recognized 25 members for their professionalism through education, participation, and community service (my 27th year), while six members completed the Sanibel & Captiva Islands Specialist program, earning their SCIS designation. Congratulations to all.
This week, SanibelSusan teammate Dave held several Open Houses and saw a noticeable increase in visitors. We also had some good listing inquiries and have future showings scheduled. Elise got a big post card mailing out and will process two more next week. I showed property last weekend, Dave is showing this weekend, and we also had a nice 2-sided closing Tuesday, which was the last island sale in 2019. Big thanks to Simmons Law for getting the needed court motion processed in time for the 14-day closing.
“$860,000 Sundial Resort Condo mortgage just funded! Non-warrantable condos welcome here. Fannie Mae has “in the box” strict guidelines. Our Portfolio Loans are “outside the box”:
“The Fixer Upper Has Spoken – If there’s one person who knows what it takes to put together an awesome living room, then it’s Joanna Gaines. The reality TV personality has spent the last few years hosting the show Fixer Upper with her husband Chip. Together, they renovate and redecorate people’s homes and have helped take “Farmhouse-chic” to another level of popularity. However, with an eye for great decoration, Gaines also knows what interior designers should avoid doing. The living room is a place for play, relaxation and family time, and Gaines has shared some of the tackiest things that homeowners should keep out of their living rooms.
Until next Friday, enjoy your weekend!
34th Annual Bailey Fest – Sunday, Oct 27 from noon until 4 p.m. at Bailey’s Center. Free & open to the public, this is the Center’s annual thank you to their patrons. Festivities include parade featuring the king and queen from the Sanibel School (winners of the essay contest, “What Sanibel Means To Me”) & stage performances by the school’s steel drum band & elementary choir performing. Free food, pony rides, water slide, giveaways, games, & more.
Florida Fish & Wildlife Conservation Commission website posts the last eight days of their test results on their on-line map. Yesterday, that map showed just three spots of high red tide readings in Florida. Those were in the middle of Pine Island Sound between Captiva/North Captiva and St. James City. Today, Lighthouse Beach was also tagged as an area with high readings. Some medium readings were shown sporadically in a few areas from North Captiva to Marco Island Beach. Most Florida areas showed low to no evidence.



Yesterday, City councilor and friend Holly Smith returned from her trip this week to the Capitol. She was there as part of the Florida League of Cities for an event called FAST (Federal Action Strike Team) Federal Fly-in to Washington DC. Sanibel’s City leaders sure work hard for us. Thank you, Holly!
Happy Halloween next week! SanibelSusan still is trying to come up with an outfit for the Realtors® Thursday Morning Caravan Meeting (& costume contest). Wish me luck!

“Research scientists from SCCF’s Marine Lab took water samples on a short cruise today on the lower Caloosahatchee River, San Carlos Bay and into the Gulf of Mexico. They found Karenia brevis, the organism that blooms into red tide, present at all sites sampled. The maximum concentration they found was 880,000 cells/liter two miles offshore of Tarpon Bay Rd Beach on Sanibel. Levels higher than 100,000 can result in fish kills and respiratory irritation in humans. Next week, they will do a more expansive cruise into the Gulf from North Captiva Island to Sanibel. Stay tuned for ongoing updates.”
With SCCF reporting the highest number of organisms around the island off the beach at the end of Tarpon Bay Road, it is not surprising that this same area produced complaints, both yesterday and today, from beachgoers experiencing respiratory irritations. Some marine life also has washed ashore. Teammate Dave reported a noticeable smell on his drive over the causeway last night.
The Association’s new Multiple Listing Service (MLS) provider offers a variety of new reports and advertising opportunities. Yesterday, Elise mailed our team’s monthly summary progress report letters which included the Islands’ 3rd Quarter Market Report. Lingering evidence of the market downturn from the water problems last year remains.
31st Annual “Ding” Darling Day – Free Family Fun Day – Sunday, Oct 20, all day beginning at 8 a.m. More info at
8th Annual “Let’s Pink Out” – Thursday, Oct 24, Breast Cancer Awareness Celebration & Luncheon from 11:30 a.m. to 1:30 p.m. at Sanibel Fire & Rescue District Station #1 on Palm Ridge Road. Saturdays, all month, from 9 a.m. to 5 p.m. “Pink Out” volunteers are bagging groceries at Bailey’s for tips. Donations collected go to F.I.S.H. to help those in the community with cancer-related needs.
As the instructor for the local class on the Resort & 2nd Home Market, I carefully follow the statistics published by the National Association of Realtors® (NAR) and their newsletter from the RSPS (Resort & 2nd-Home Property Specialist) group. Here are some excerpts from an article they published on Oct 10, 2019:
Until next Friday, Susan Andrews, aka SanibelSusan
The Sanibel & Captiva Islands Association of Realtors® transition to their new Multiple Listing Service continues for the second week with kinks continuing to be worked out as the system and its reports are fine-tuned to our geographic areas. If you previously received automatic email updates about a particular property type, those databases did not convert with the transition, but I am s-l-o-w-l-y setting up new searches so that you will begin receiving listings again.
Mid-week, Dave and I visited a couple of condos at Sundial Resort. It was surprising to see so few vehicles there, but like at other complexes in September, associations are making good use of the downtime. At Sundial West, the building walkways and stairs were being pressure washed.
The Chamber of Commerce has posted the below list of island temporary restaurant closures. As in past years, many take staff vacations now, do annual deep cleans, and fix-ups before “season”.
Rosie’s Café & Grill is back. After a year-long absence Rosie’s reopened recently in its former location in Palm Ridge Place. The restaurant dates back a few decades when it went by the name Rosie’s Deli & Market and was on Sanibel’s east end. The 4th generation of owners, Joanne Fitzgerald and Irving Gavin, bought the restaurant in 2009 when it was still on the east end. (Gavin is the son of Eugene, of the well-known Gavin family that settled on Sanibel in 1914.) The restaurant relocated to its current location, reopening in 2012 under the name Rosie’s Café & Grill. Currently serving breakfast and lunch; dinner will be available in-season starting in Nov. In addition to their former menu and Royal Scoop ice cream, Rosie’s now serves barbeque and soon will expand with a new bakery. Hours now are 8 a.m. to 3 p.m. Sunday and Monday, and 8 a.m. to 6 p.m. Tues through Sat.
Captiva Triathlon – is this weekend, Sat and Sun Sep 7 and 8. As a reminder, Captiva Drive will be closed tomorrow at 6:45 a.m. and remain closed until the bike segment of the race is complete. The USAT-sanctioned adult sprint triathlon is a ¼-mile swim, 10-mile bike, and 3.1-mile (5K) run on Captiva. The swim will be in the open waters of the Gulf of Mexico, the bike will cover the length of Captiva on closed roads, and the run will be on the golf course path along the Gulf and Redfish Pass at South Seas Island Resort. On Sunday, there will be three age groups for the USAT National Splash n’ Dash race:
2nd Annual Flip-Flop Family Scavenger Hunt – This Sanibel Sea School fundraiser will kick-off at 10:30 a.m. on Saturday, Oct 5, at Saint Michael & All Angels Episcopal Church at 2304 Periwinkle Way. At check-in, each scavenger team (up to eight individuals) will be given a book of clues and challenges, each worth a set number of points. Included are clues that could be easily solved by younger children. Through the hunt, participants will use their knowledge of the island, marine biology, and local folklore to earn points. Along the way, teams will visit several Sanibel locations, where they may be asked to take a photo or bring back a specific shell or artifact to prove the visit. The Sea School says, “The key to hosting a successful scavenger hunt is creating clues that can be solved by anyone in the family, no matter their age.” The event is expected to be completed by 3 p.m. At the finish line check-in station, staff will tally all points collected by each team. Those teams will be able to “buy” letters with their points earned in order to solve the final puzzle. The team that solves the final puzzle correctly first will determine the winner, but that might not necessarily be the team that tallies the most points. Cost to participate is $25 per person. Participants must provide their own transportation. All proceeds will support the nonprofit’s scholarship fund which provides ocean experiences to thousands of area children each year. Tickets may be purchased on line at
Annual CROW Classic Golf Tournament – Also on Saturday, Oct 5 at The Sanctuary is the annual CROW Classic Golf Tournament. Shotgun starts at 12:30 p.m. with check-in at 11 a.m. and lunch at 11:30. Player registration is open to 100 golfers. It features 18 holes, a helicopter ball drop, and chances to score prizes. Players may sign up as a foursome, or as individuals and will be matched up as a team. All of the proceeds from the tournament will benefit the animals at CROW, their care, public education, training, etc. The community is encouraged to sign up to play or purchase some helicopter balls. Players can register to play (through Sep 16) and players/non-players can purchase balls (through Oct 3) at
“Northeastern states and Utah, Colorado and Wyoming have experienced extreme warming while many southern states have experience little change. Some have even cooled slightly. Florida has seen slight to moderate change. For the full report go to The Washington Post of August 13, 2019.
Until next Friday, wishing everyone a great weekend & week,