Sanibel/Captiva Real Estate Nitty Gritty


It’s Susan, reporting another Friday and another beautiful one on sunny Sanibel Island. Following a somewhat blustery rainy Memorial Day weekend, the last few days progressed with only a few showers. Chance of rain is now down to only 10-20%, with daytime temperatures in the low 80’s – pretty nice by island standards.

sunset carinteriordesign(Of course, as soon as I was ready to push the “publish” button on this post, it starting raining. It’s about 3:30 p.m. and looks to be just a quick shower! Maybe with some lingering clouds there will be another one of these gorgeous sunsets tonight.)

 

The action this week in the Sanibel & Captiva Multiple Listing Service follows a few news items below. It’s quiet now on-island, but even so Sanibel had six new sales (two condos, four homes). No sales on Captiva.sancap GO MLS logo

With today being the first day of hurricane season, it’s a good time to buy – properties generally are easier to view than during the busy winter months and sometimes sellers more negotiable. Inventory remains low, however, so if you want a particular property type or community or have special requirements, it pays to have someone on the lookout for you. Realtors® here often get a heads-up before a new listing hits the market – the beauty of living and working on a small island – and The SanibelSusan Team has good radar!

Sanibel & Captiva Islands Association of Realtors®

Sanibel realtors logoCommunications & Public Relations Committee Meeting at our Wednesday morning meeting, the Committee finalized plans for some summer community and fundraising projects:

  • FishFISH of Sanibel-Captiva – As our spring food drive for non-perishable items wrapped up, items collected were delivered yesterday to the food pantry.
  • Sanibel Heritage Trail – Within the next month, now that the rainy season has begun, and with help from SCCF’s Native Plant Nursery, Realtors® hope to add plants to stops along the recently completed Heritage Trail. Funds are already raised and earmarked.
  • meals_of_hope(1)Meals of Hope – The Association is hosting another meal-packing event on Tuesday, July 24 from 3 to 5 p.m. at the Sanibel Community Church. Last summer, we packed over 20,000 meals in less than 2 hours. We hope to pack another 20,000. First, we need to raise $5,000 to cover the food cost. The Association is collecting donations (checks made out to Meals of Hope) and looking for volunteers to help pack during the 2-hour event. Neighbors, family, friends, and children needing community service credits are welcome. Call your Realtor® or the Association (472-9353) for more info. More about the mission of Meals of Hope is at www.mealsofhope.org.
  • Bedz for Kidz – In August, we will be collecting twin and crib bed sheets and children’s luggage/backpacks for this local charity that provides beds and bedding for children as part of the Guardian ad Litem Foundation of the 20th Judicial Circuit “Voices for Kids”.
  • New ACT logoACT (Abuse, Counseling, & Treatment Center) – In September/October, we are collecting pillows and fresh linens for this Fort Myers facility.

Thursday Realtor® Caravan at yesterday’s Caravan Meeting, only two new sales were announced and just three properties were open for Realtor® Caravan. The meeting was well attended though, with plenty of announcements about educational opportunities this summer and a final financial report from our recent End-of-Season Golf Outing & Auction to benefit water quality.SCCF logo

Association Affiliate and event Chairman, David Arter announced that the event raised more than $14K which will be presented soon to the Sanibel-Captiva Conservation Foundation (SCCF).

RPAC raffle tickets also were sold at the event. These sales helped the Association again surpass their annual national goal. (RPAC stands for Realtor Political government_affairs_rpac_logo_homeAction Committee. RPAC was created in 1969 and raises funds voluntarily from members of local Associations for use in issues, campaigns and contributions to political candidates at federal, state and local levels. RPAC funds have been used here for a variety of issues affecting island real estate and property rights (including water quality, redevelopment, flood insurance, etc.))

Historical Village To Hold Free Admission Day

Touring-the-Sanibel-Historical-Village-MuseumAs reported this week in the “Santiva Chronicle”: “The Sanibel Historical Village will offer free admission for all visitors on Saturday, June 16, 2017, from 10 a.m. to 1 p.m.

““We decided to hold Free Admission Days because sometimes Sanibel residents tell us they have never been to the village,” said Executive Director Emilie Alfino. “I suppose it’s the same syndrome that causes New Yorkers to ignore the Empire State Building! With our mission to share and celebrate Sanibel’s history, we wanted to do something to entice more people to explore the village. Once they do, we know they’ll love it and return many times and bring family and friends.”

“The free day is not aimed at just locals but is open to all visitors.

“The Sanibel Historical Museum & Village tells the story of Sanibel from the Calusa and Spanish eras to the early pioneer families who settled on the island in the 1800s. It tells of warriors, adventurers, fishermen, farmers and proprietors. The island’s way of life is recreated in a village of nine structures that have been relocated from their original sites, restored and preserved. Visitors trace the footsteps of the island’s past as they meander along a handicapped-accessible path lined with buildings that represent “old Sanibel,” as Sam Bailey used to say. Visitors can tour a pioneer home, fishing cottage, post office, schoolhouse, tea room, general store, and more.

“Learn more at the Sanibel Historical Museum and Village, open Tuesdays through Saturdays from 10 a.m. to 1 p.m. A full guided tour takes place at 10:30 a.m. at no additional charge, depending on the availability of a docent. The museum closes for the summer on August 1 and re-opens October 16.”

Floridians’ Outlook Improves – Second Month in a Row

Florida Realtors logoAs posted on-line Wednesday at FloridaRealtors®, sourced to Gainesville:

“Consumer sentiment among Floridians increased 2.6 points in May to 100.6 – an increase from a revised figure of 98 in April. Among the five components that make up the index, three increased and two decreased. It’s the second reading over 100 since March 2002, the first being January of this year….

UF logo“Overall, Floridians are more optimistic, and the gain in May’s confidence came mainly from consumers’ future expectations about the national economy in the medium- and long-run. Notably, these expectations are shared by all Floridians regardless of their age or socioeconomic status,” Sandoval said. (Hector H. Sandoval is director of the Economic Analysis Program at University of Florida’s Bureau of Economic and Business Research.)

“Economic activity in Florida continues to expand with more jobs added every month. In April, 178,400 more jobs were added statewide compared with a year ago, an increase of 2.1%. Among all industries, professional and business services gained the most jobs, followed by construction, leisure and hospitality, and education and health services.

“The Florida unemployment rate has remained unchanged at 3.9% for the past eight months. Furthermore, according to the Bureau of Economic Analysis, real gross domestic product in Florida increased 3.7% in the fourth quarter of 2017. The real estate and rental and leasing industry and the construction industry contributed the most to the increase.

“”Despite the ups and downs, consumer sentiment has been very favorable over the year and has remained quite stable since the beginning of 2018. Looking forward, we anticipate consumer sentiment to remain high in the months to come,” Sandoval says.”

Update on Bailey Tract Closing

ding darling goose logoRefuge Manager, Paul Tritaik issued the following press release this week: “J.N. “Ding” Darling National Wildlife Refuge will be closing the Bailey Tract for four to six weeks starting the afternoon of Sunday, June 3, 2018. This closure is for a planned hydrologic restoration project, in partnership with the Florida Fish and Wildlife Conservation Commission (FWC), commencing in the morning of Monday, June 4, 2018. To avoid public safety concerns, the Bailey Tract will be closed to all public access for the duration of the restoration project…. This restoration is intended to enhance the hydrology of a portion of the Bailey Tract to benefit a suite of species dependent on the historic cordgrass marsh habitat of Sanibel Island. The restoration will partly restore the hydrology of the affected area by helping to increase groundwater levels, improve surface water capacity, extend the hydroperiod of the marsh, and ultimately restore the freshwater marsh habitat in the affected area.”

Summer/Fall Shell Shows For Travelers

odd shellAs a member of the Sanibel-Captiva Shell Club, I recently got an email which included info on a variety of upcoming shell shows. If you are traveling to any of these locations this summer, you may want to add a show to your itinerary – or plan a trip around a show. (If you’d like more contact info for any of the events, let me know, and I’ll send you the details.)

  • Shanghai Shell Show, Shanghail, China – July 27-29
  • Chatsworth Shell Fayre, Derbyshire, UK – August 18
  • 3rd West Coast Shell Show, San Diego, CA – August 25 & 26
  • Conchologists of America Annual Convention, San Digeo, CA – August 30 to September 3
  • Oregon Shell Show, Salem, OR – August 24 to September 4
  • Annual German Shell Fair – Oehringen, Germany – September 22 & 23
  • North Carolina Shell Show, Wilmington, NC – September 28 to 30
  • XXIII Prague International Shell Show, Prague, Czech Republic, October 20 & 21
  • British Shell Collector’s Club Convention, Essex, England – October 27
  • Sydney Shell Show, Sydney, Australia – October 27
  • Philadelphia Shell Show, Philadelphia, PA – October 27 & 28.

Sanibel & Captiva Islands Multiple Listing Service Activity May 25 to June 1, 2018

Sanibel

CONDOS

2 new listings: Tennisplace #D31 1/1 $229K, Pointe Santo #C34 1/1 $560K.

3 price changes: Island Beach Club #320F 2/2 now $799K, Sundial West #E104 2/2 now $875K, Pointe Santo #E23 2/2 now $950K.

2 new sales: Spanish Cay #D4 2/2 listed at $399K, Sanibel Moorings #1312 2/2 listed at $549K.

2 closed sales: Sanibel Arms #D4 2/2 $525K, Sunset South #7C 2/2 $525K.

HOMES

No new listings.

11 price changes: 1717 Atlanta Plaza Dr 2/2 now $445K; 1027 Sand Castle Rd 2/2 now $499K; 3784 Coquina Dr 3/3 now $579,975; 1190 Sand Castle Rd 3/2 now $595K; 5280 Ladyfinger Lake Rd 3/2 now $798.9K; 9028 Mockingbird Dr 4/3 now $799K; 9027 Mockingbird Dr 4/3 now $849K; 2480 Library Way 3/2.5 now $875K; 1349 Eagle Run Dr 3/2.5 now $1.095M; 534 N Yachtsman Dr 3/2 now $1.238M; 2029 Periwinkle Way 4/3 now $1.69M.

4 new sales: 736 Cardium St 3/2 listed at $439K, 1224 Kittiwake Cir 3/2 listed at $749.9K, 1183 Kittiwake Cir 3/2 listed at $768.9K, 1552 San Carlos Bay Dr 4/5.5 listed at $2.199M.

4 closed sales: 1621 Sand Castle Rd 3/2 half-duplex $557K, 5299 Ladyfinger Lake Rd 3/3 $624K, 727 Birdie View Pt 3/2 $774K, 3320 Saint Kilda Rd 4/2.5 $1M.

LOTS

No new listings, price changes, or new sales.

1 closed sale: 2401 Blue Crab Ct $575K.

Captiva

CONDOS

No new listings

2 price changes: Ventura Captiva #2A 3/3 now $919K, Sunset Captiva #204 2/2 now $1.149M.

No new or closed sales.

HOMES

No new listings.

1 price change: 11525 Chapin Ln 4/4 now $1.499M.

No new or closed sales.

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.

SanCap Aerial 05-19-2018

Photo by Jim Szabo, SanCap Aerials, & borrowed from the City’s website. Taken May 19, 2018 before the islands’ surrounding waters were stirred up from recent rains. Lake “O” water releases are expected to begin soon, if not today. They are just part of the summer routine here. See more info & photos at www.mySanibel.com

Until next Friday, Susan Andrews, aka SanibelSusan

Almost Memorial Day 2018 on Sanibel Island


SanibelSusan was ready to report another Friday with fantastic island weather until the rain began about 2 p.m. It’s still beautiful, just with a few raindrops. Since yesterday, the team and I have been getting our annual 7000-piece mailing post-office ready. If you are on our mailing list, you will get an island inventory/recent sale booklet soon. If you want to be added to the mailing list, just let us know.

The forecast isn’t what we want for a holiday weekend, with Tropical Storm Alberto likely to bring more heavy rain beginning tomorrow afternoon. Fingers crossed that maybe some holiday visitors will decide to look at real estate, instead of beaching, boating, and biking.

In anticipation of a rainy weekend, yesterday I took the long route from home to office to snag a few photos of some of the wonderful flowering spring vegetation before the raindrops pelted them. Here they are, beginning with a pink hibiscus at my house, followed by a late-blooming Royal Poinciana tree at Captain’s Walk, my favorite flowering trees at Sanibel Moorings, a fragrant frangipani in Sanibel Shores, and the wonderful butterfly garden at West Wind Inn.

2015-05-24 Hibiscus2018-05-24 Poinciana2018-05-24 Pink Moorings2018-05-24 Yellow2018-05-24 Frangi2018-05-24 West W

Below are a couple of news articles followed by the action posted since last Friday in the Sanibel & Captiva Islands Multiple Listing Service. It illustrates, “it’s quiet.”

Sanibel & Captiva Islands Association of Realtors®

Sanibel realtors logoThere was no Realtor Caravan yesterday. It’s the off week in the summer biweekly schedule, but the Sanibel Captiva Islands Association of Realtors® has been hosting their annual classes for the Islands Specialist designation. To earn the designation, Realtors® must attend all 12 module classes which cover all aspects of listing and selling real estate on Sanibel and Captiva. Since this program began in 2006, close to 100 local Realtors® have earned the designation.

On Wednesday, I again taught the Resort & 2nd Homes module which I authored and update each year. It’s good to know that the “beach” remains the top location for all vacation and 2nd home sales. Florida also continues to hold its place as one of the top four states for resort and 2nd home buyers. (The other states are California, Texas, and Michigan.) Here’s a photo of the attendees after my pop quiz which earned them funny resort wear.

RSPS class 2018

Island Projects Underway

During my drive-around yesterday, I noticed that several building projects are underway. Several new homes are going up, including a big one on Limpet Drive and another big home in Butterknife. I was surprised to see a cute little often-admired beach cottage taken down on East Gulf Drive near Olde Sanibel. Probably a new larger home soon to go up there too.

paperfig kitchen logoConstruction continues on the new building at the site of the former Sanibel Steak House, and remodeling continues at the former Jacaranda Restaurant.

Remodeling also is ongoing at another new eats spot in Tahitian Gardens, called “Paper Fig Kitchen”. It’s scheduled to open in June providing catering and take-along. Check them out at http:/www.PaperFigKitchen.com.

Best 25 Places People Moving To in 2018

News Press logoAs published in the May 21, 2018 Fort Myers “News-Press”, Lee County is among the best places people are moving. It says:

“A new report from U.S. News & World Report ranks Lee County 2nd nationwide on its list of “The Best 25 Places People Are Moving to in 2018.”

“The county’s population spiked more than 14% from 2012 to 2016, behind only Myrtle Beach, S.C. (The report refers to Fort Myers, but the data reflects the entire county.)

“Florida locations dominate the list, including Sarasota at No. 3, Port St. Lucie at No. 6 and Melbourne at No. 10.

“This begs questions: Is so much growth good or bad? What is the impact? Christopher Westley, director of the Regional Economic Research Institute at FGCU, said there are many ways to look at such a ranking.

“Demographically, the Baby Boomers have been planning to move to Florida for 25 years and now they’re doing that, hence Florida’s outsized presence on this list,” he said. “That’s a big factor.” It’s important, Westley said, for elected leaders and others to consider the implications of such growth 20 years from now, when that generation’s migration is over. “Then what will Florida look like?” he pondered.

“Florida’s population is over 21.3 million, according to the latest estimate based on U.S. Census Bureau data. It will exceed 22 million in 2020, based on trends, and could hit 26 million in 2030. The last Census estimate for Lee County, in July 2017, says the population is nearly 740,000, so it’s likely over 750,000 today.

“The largest future growth areas in the county include Cape Coral and Lehigh Acres, where there is plenty of space to develop. The Cape’s population, estimated at 180,000, is expected to reach 400,000 at buildout.

“This “Best 25” list is based on the “Best Places to Live” ranking, which looks at the 125 most populous metro areas in the nation. Lee County, again listed as Fort Myers, ranks No. 41 on that list. Collier County’s population, estimated to be almost 373,000 in July 2017, is slightly too small to be included.

“Eric Berglund, executive director of the Southwest Florida Economic Development Alliance, said workers are a critical piece of the growth equation. “Jobs attract people and having more people here gives us a more diversified and qualified workforce,” he said. That’s important because site selectors — those examining where to locate businesses — look at more than just population when making decisions. “They’re asking, ‘What skill sets does the workforce have?’” Berglund said. “They’re saying, ‘If I can’t get the talent to work for me, the location won’t work.'”

“Workers, too, are evaluating a community when determining whether to relocate. That’s one reason issues like attainable housing and transportation are important. “You need to make sure workers have somewhere to live and that the infrastructure is adequate to get them around,” he said.

“Those concerns have sparked more conversations around attainable housing in Lee and Collier counties.

“Everybody is saying, ‘If we have such a robust tourism industry, we need to make sure our workers have a place to live,’” Berglund said. “It’s critically important.”

“Brian West, a spokesman for Lakeland-based Publix, said many variables are involved in the company’s site selection process, which relies on market research. “The population in an area is one of the considerations, along with projected growth,” he said. “Most of our growth continues to be right here in Florida.”

“The Great Recession, Berglund said, changed the budget realities for policymakers, forcing them to reprioritize spending. That’s changed in recent years, through the rebound. “With the tax base increasing, they’re able to come in and start to make some of those investments with infrastructure that got delayed,” he said.

“On a longer-term scale, Westley wondered: “How many municipalities’ operational strategies are based on income from continued in migration and how will that change once the demographic trends change?”

“Lee County Manager Roger Desjarlais was at an all-day meeting Monday and unavailable for comment, said Betsy Clayton, county spokeswoman, in an email. The county, she wrote, has a “continuation budget,” which is the cost to provide the exact same level of services from one year to the next. “If population growth impacts service levels, that is factored into the development” of this budget, she wrote. “The county’s 5-Year Capital Improvement Plan also contemplates the infrastructure that will be needed to accommodate growth.”

“More population can strain resources, from roads and schools to water and health care if it’s not addressed adequately.“These are things that have to be taken into consideration as the region grows,” Westley said.

“Most of the same cities appear on such “best places” lists because they are appealing destinations and many are in states — like Florida — with no income tax.

While growth affects Florida cities and counties differently, partly based on their reliance on tourism, there are many other communities nationwide — from Seattle to Key West — struggling with such issues due to wage differences in the workforce. “When you attract higher income through in migration, you also create a demand for more of the trades as a result of them being here, whether it’s health care or restaurants,” Westley said.

“Moving forward, elected officials in Lee and Collier counties will continue to look to the state’s more developed east coast for lessons. “What did they do wrong? What did they do right and what can we learn from their experience?” Westley said. “Our area is in the process of turning a corner right now.”

us news & world report logo“Florida metro areas on ‘Best Places People Are Moving’ list

No. 2: Fort Myers

No. 3: Sarasota

No. 5: Orlando

No. 6: Port St. Lucie

No. 7: Daytona Beach

No. 9: Lakeland

No. 10: Melbourne

No. 12: Tampa

No. 21: Jacksonville

Source: U.S. News & World Report”

What to Consider Before Downsizing

Florida Realtors logoPosted online today at FloridaRealtors®, this article is sourced to USA Today:

“Tim and Tracey Kerin knew it was time to downsize soon after their grandson Maximus was born. “We started to re-evaluate what’s important to us at this stage in life and decided that our health and family were more important than a larger home with a big backyard and pool,” says Tim, 58, who along with Tracey, 59, operates a commercial cleaning and construction business.

USATodayLOGO“Last December, the Kerins packed up a two-story colonial replete with a beautifully landscaped garden in Damascus, Md., and moved to New Smyrna Beach, Fla., near their sons Justin, 35, and Jason, 33, and their families. And of course, they get to see Maximus, now 2. “We usually see Max a couple of times a week, and he spends one night every weekend, which we look forward to,” Tim says.

“The Kerins are not alone in their quest for a simple life centered on happiness. According to a recent TD Ameritrade Survey, 42% of pre-retirees are likely to downsize if they haven’t done so already. Some 25% of respondents are moving to a warmer climate, and 17% are moving closer to loved ones.

“Another critical consideration is cost. “Retiring with a lower mortgage payment, (lower) property tax bill, (and) smaller place to clean and maintain can be attractive,” says Dennis LaVoy, CFP of Telos Financial in Plymouth, Mich.

“Before downsizing, homeowners should run the numbers to make sure it makes financial sense. “Look at costs associated with selling the primary home, such as preparing the house for sale, agent’s commission, moving and buying a smaller home to get an idea of the fixed costs to relocate,” says Aaron Galileo, senior loan officer at Investors Home Mortgage in Howell, N.J.

“Once a person decides to downsize, he or she must keep lifestyle in mind. “You need to save as much as you can for retirement to keep your lifestyle intact,” says Jeff White, a financial analyst at FitSmallBusiness.com. “If you can lower your monthly mortgage payment from $2,500 for the big home to $1,200 per month for a nice condo that fits you and your spouse, why not leap and invest the extra $1,300 into your retirement plan?”

“The amount of space you have may also influence your decision to scale down. “If the kids have moved out and you’re an empty-nester, do you need all of that space?” asks Brian Graves, co-founder of Everything But the House, an online estate sale marketplace. He says factor in how much space you need based on your family dynamic and the frequency of out-of-town guests.

“For some homeowners, maintaining a property, especially an older one, is no longer attractive. That was the case for Sean Dougherty, age 51, and his wife, Juliana Atinaja-Dougherty, 56. In February, they moved into a two-bedroom, two-bath apartment in Manhattan after living for more than 20 years in the 2,000-square-foot single-family ranch house in Clifton, N.J., where his wife grew up. “The house was run down in small but noticeable ways, and we kind of lost the emotional energy to fix it up for sale, so we priced it to sell,” says Sean, a senior vice president at a public relations firm, and Juliana, an attorney. “Plus, we always wanted to move back to New York at some point and having reached a point where we are more financially comfortable, it made sense.”

“Part of their decision was doing the math and figuring out they could afford to do it, especially given that the move to New York would increase their cost-of-living expenses substantially thanks to the rent they now pay. The other part was wanting to enjoy the entertainment and cultural experiences of big-city living.

“In my case, I wanted to do more in New York like seeing friends, taking in a Broadway show or going to a book reading without worrying about the frustrating commute back to New Jersey,” Sean says. Even still, they are happy with the move. “I put a ceiling on what we could afford, and I could still keep my job as my wife plans to retire soon,” Sean says. His best advice for those thinking about downsizing: “Don’t wait too long. It’s easy to live in the status quo of your life, but then you deny yourself other experiences.”

“While there is no one-size-fits-all answer for when it’s time to downsize, keeping these factors in mind will help pre-retirees and retirees make a smooth transition.”

Sanibel & Captiva Islands Multiple Listing Service Activity May 18-25, 2018

Sanibel

CONDOS

1 new listing: Sanibel Moorings #1312 2/2 $549K.

1 price change: Island Beach Club #220E 2/2 now $899K.

2 new sales: Sundial East #Q404 2/2 listed at $929.9K, Island Beach Club #230D 2/2 listed at $1.395M.

2 closed sales: Nutmeg Village #313 2/2 $950K, Sanddollar #B301 2/2 $1.059M.

HOMES

5 new listings: 1126 Schooner Pl 4/2.5 duplex $459K, 1774 Bunting Ln 3/2 $629K, 1066 Sand Castle Rd 3/2 $639K, 1476 Sand Castle Rd 3/2 $739K, 3136 Twin Lakes Ln 3/2 $995K.

5 price changes: 1520 Centre St 3/2 now $465K, 9225 Belding Dr 3/2 now $515K, 5885 Pine Tree Dr 3/2 now $599K, 610 Hideaway Ct 3/2.5 now $639K, 734 Anchor Dr 3/2 now $899K (our listing – photos below).

6 new sales: 966 Greenwood Ct S 3/2.5 half-duplex listed at $449K, 1717 Atlanta Plaza Dr 2/2 now $450K, 1338 Tahiti Dr 2/2 listed at $565K, 752/754 Cardium St 4/2 duplex listed at $579K, 223 Daniel Dr 4/3 listed at $898K, 1545 Sand Castle Rd 4/3.5 listed at $1.149M.

5 closed sales: 3043 Poinciana Cir 4/2 $487.5K; 1145 Shell Basket Ln 2/2 $639,875; 1137 Shell Basket Ln 3/2 $700K; 805 Sand Dollar Dr 4/3 $1.295M, 1272 Isabel Dr 4/4.5 $2.8M.

LOTS

No new listings.

1 price change: 9226 Kincaid Ct now $129K.

No new or closed sales.

Captiva

CONDOS

No new listings, price changes, or new sales.

1 closed sale: Beach Homes #22 2/2 $1.791M.

HOMES

1 new listing: 15879 Captiva Dr 3/3 $3.495M.

2 price changes: 16525 Captiva Dr 3/3 now $1.875M, 17030 Captiva Dr 6/7.5 now $8.475M.

No new or closed sales.

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.

memorial-day-clipart-Memorial-day-clip-art-5-2Especially on Monday, we honor those who served. Here’s hoping you have a nice weekend too.

Susan Andrews aka SanibelSusan

Sanibel Island Beach at Noon Today, Friday the 13th (April 2018)


 

Wondering how the beach looks? SanibelSusan made a quick stop, just after noon today, at the beach access at the end of Donax Street on Sanibel’s almost east end. As the above photos show, the beach is looking great and being enjoyed. My car said the outside temperature then was 83 degrees F. With a brisk breeze, it was perfect beach weather.

My team and I are continuing to enjoy the change in traffic pattern this week as the islands slow down. The trouble is once Periwinkle Way eases up, so do the real estate phone calls and inquiries. That’s too bad, as now is when it’s often easiest to gain access to the properties that have been occupied all winter.

Sanibel realtors logoAt yesterday’s local Association of Realtors® Caravan Meeting, in addition to many new price reductions, a large number of new listings were announced. It was a full caravan, too.

That’s a bit of an oddity for this time of the year when business typically slows down a little. Hopefully this year with winter weather continuing in many areas, Florida will be more attractive to future prospective property owners.

Shown after a couple of news items below is our weekly report showing the action posted since last Friday in the Sanibel & Captiva Multiple Listing Service.

Florida House Bill 631/Senate Bill 804 – What Are The Facts?

State of FL SealThere have been rumblings the last couple of weeks over House Bill 631/Senate Bill 804 – Possession of Real Property (commonly known as customary use), signed by Governor Scott on March 23. Some folks believe that this bill restricts access to Florida’s beaches. That is not true.

Florida’s Constitution provides that all land seaward of the mean high-tide line belongs to the public. No government entity or private individual or property owner can deny access to it.

Florida Realtors logoPosted on-line yesterday, April 12, Florida Realtors® provided a good explanation of customary use and the beach access issue with the following questions and answers:

“Question: What is “customary use”?

Answer: “Customary use” is a common law term referring to public access to private beachfront property. Generally speaking, beachfront property owners in Florida own the “dry sand” area leading down to the mean high tide line – the line of intersection of the land with the water’s surface at the maximum height reached by a rising tide. The land seaward of that, commonly known as the “wet sand” area, is held by the state in trust for the public.

The process known as customary use allows a local government to adopt an ordinance that allows public access to the private dry sand area of beachfront property where the use has been ancient, reasonable, without interruption and free from dispute. (1974 City of Daytona Beach v. Tona-Rama, 294 So.2d 73 (Fla. 1974)

“Question: Are customary use ordinances new?

Answer: No. The public trust doctrine is embodied in Art. 10, s. 11 of the state’s Constitution. Further, the customary use process has existed in Florida for many decades.

“Question: If customary use is not new, then what does this new law (HB 631) that was passed actually do?

Answer: The previous process for adopting a customary use ordinance was not structured in a way that encouraged active dialogue about the issue between property owners and the local government. The intent of the new law is to allow customary use practices to continue, but in a way that is more transparent, efficient and economical, while requiring active dialogue between local governments and private property owners on the front end to avoid costly legal challenges.

“Question: What was the old customary use process and how does it work now?

Answer: Simply put, prior to this law a local government would evaluate its public beach needs and previous public use, draft a customary use ordinance to address the issues they found, and then vote to adopt that ordinance. Property owners affected by the new ordinance could then pursue a legal challenge if they wished to.

Under the new law, the local government must first hold a public hearing to make the public aware of the new customary use ordinance they want to adopt. They also need to notify every affected property owner of the proposed ordinance in writing, as well as identify the use they are seeking and show evidence of the need of that use. They will then bring the proposed ordinance forward for a judicial determination and must notify affected property owners that they have 45 days from receipt of the notice to intervene in the legal proceedings….

“Question: Is public access to Florida’s beaches cut off under this new law?

Answer: No. The law only changes the process by which a local government would follow to adopt a customary use ordinance.

“Question: I live in a county that has an engineered beach/erosion control line. Does this issue affect me?

Answer: There are 35 coastal counties in Florida. A total of 26 coastal counties have an engineered beach/erosion control line – a jurisdictional boundary established in beach re-nourishment project areas. If you live in one of these counties, then customary use ordinances are highly unlikely for your area.

Nine counties don’t have an engineered beach/erosion control line. These counties are: Walton, Jefferson, Taylor, Dixie, Citrus, Hernando, Pasco, Volusia and Flagler.”

Reducing Your Flood Insurance Cost

femaThe cost of flood insurance often is a consideration to a prospective buyer. Some flood policies allow a new owner to assume the seller’s policy, so it is common for Realtors to ask owners about their insurance costs and the contact information for their insurance carrier. Sometimes we have info about how you may be able to reduce your insurance costs too.

Several years ago, the local Association of Realtors® brought in speakers from a local engineering firm that specializes in services related to flood zone mapping and analysis, flood protection analysis and flood proofing services. Sometimes that engineering work results in a document called LOMR (Letter of Map Revision). To fully understand what a LOMR is, it helps to know about the City’s evolution and how it relates to flood insurance.

Sanibelcityseal logoHere is some background from Sanibel’s on-line 2017 Comprehensive Floodplain Management Plan. (Read the full document at http://www.mysanibel.com/Flood-Information/Comprehensive-Floodplain-Management-Plan )

“The City of Sanibel is a barrier island, located on southern Florida’s Gulf coast. In 1974, the City was in a grassroots effort to gain local control over land development so that the fragile and unique environment of the Island could be preserved and enhanced…. Development within the City is regulated to coexist with nature.

“One of the City’s initial tasks following incorporation was the adoption of the Sanibel Plan (a comprehensive land use plan), which uses the ‘carrying capacity’ concept of land use management to determine the development intensity permitted on the island: the more sensitive the land is to human activity, the less development is permitted. In the City’s very fragile and vulnerable Gulf Beach, Bay Beach and Mangrove Forest Zones, little or no development is allowed. On the higher and less environmentally sensitive ridge areas of the Island, more intense development is permitted.

“Prior to incorporation, Sanibel Island was zoned for the development of over 30,000 dwelling units. After the City was established and the initial Sanibel Plan was adopted in 1976, the projected number of dwelling units to be permitted on the Island dropped to approximately 7,800. After subsequent lawsuits and Plan amendments, the current projected number of dwelling units to be permitted on the Island has been adjusted to approximately 9,000.

“Not only did the City significantly decrease the amount of development permitted on the Island, but the City’s new zoning regulations severely restrained and, in some cases, prohibited development in the Island’s most environmentally sensitive and flood prone areas such as the Bay and Gulf Beach Zones, the Mangrove Forest Zones and the Interior Wetlands Conservation District. By restricting or limiting development in these sensitive and vulnerable areas, the City took a giant step to protect the public health, safety and welfare from flood damage.

“When the Federal Emergency Management Agency (FEMA) established the Community Rating System (CRS) in 1990, the City of Sanibel was one of the first to apply. Due to its historic proactive floodplain management efforts, the City is currently recognized as a Class 5 community by the CRS. Through the CRS program, the City has made a commitment to further improve and enhance its proactive floodplain management efforts through the evaluation and updating of its comprehensive Floodplain Management Plan (FMP).

“The purpose of the Sanibel FMP is to reduce or eliminate risk to people and property from flood hazard and has been developed to meet CRS criteria for such planning documents and incorporates the primary goals of the CRS to reduce flood losses, facilitate accurate insurance ratings, and promote the awareness of flood insurance. The plan includes existing and new mitigation activities, to prioritize mitigation activities and on-going activities to meet the City’s floodplain management goals. The City of Sanibel has implemented its Comprehensive Floodplain Management Plan since the initial adoption of that plan in 1995. This 2005 Floodplain Management Plan assesses updates and clarifies that plan and provides direction for future actions. On May 3rd, 2016, the Sanibel City Council established a City of Sanibel Floodplain Management Planning and Mitigation Advisory Committee to the City of Sanibel to organize and prepare the Floodplain Management Plan. Under the Community Rating System (CRS), there is an incentive for communities to do more than regulate new construction. The CRS provides a reduction in flood insurance premiums to reflect activities that reduce flood damage to existing buildings, protect new buildings beyond the minimum NFIP protection level, and help residents obtain flood insurance.

“…The largest potential impact in hazard assessment of the 100-year storm is Base Flood Elevation (BFE) requirements from the FEMA maps. In November 2014, FEMA notified the City of Sanibel that it is analyzing coastal wave action in the Gulf of Mexico as part of its Risk Mapping, Assessment & Planning (Risk MAP) program. This analysis will be used to create new elevation data for Flood Insurance Rate Maps (FIRMs). Preliminary maps are anticipated to be distributed in 2018. Previous maps included Zone VE, where the flood elevations include wave heights equal or greater than 3 feet; and Zone AE, where the flood elevation includes wave heights less than 3 feet….

“By joining the NFIP in 1979 and requiring new construction to be built above the Program’s base flood elevation, development that has occurred on Sanibel since that time is relatively safe from flood damage in all but the very worst-case storm events….”

So how does this relate to a LOMR? In floodplain lingo, a Letter of Map Revision or LOMR is FEMA’s modification to an effective Flood Insurance Rate Map (FIRM) or Flood Boundary and Floodway Map (FBFM) or both.

Why do you want your property to be included in a LOMR? Because it may mean that your property is now located in a flood zone that is less likely to flood, so less costly to insure. The property didn’t move, but the likelihood of flooding occurring may have lessened because of nearby construction, shift in the land, and changes in the weather, that could affect wind and wave action.

In recent years, many island condo complexes and communities have hired engineering firms to determine if their locations could be candidates for LOMRs. The process can be costly and lengthy, but in many cases has achieved great results – and huge savings in flood insurance. Posted at on the City’s website at http://www.mysanibel.com/Flood-Information/LOMR-Letters-of-Map-Revision are recent revisions.

If your property is near one of these locations, particularly if it is landward of one of them, go to the link for that LOMR. There, you will see the letter that FEMA sent to the City identifying the area of change. The last page(s) of each document list by STRAP numbers & owners names, all of the properties affected by the that document. If yours is included, it may be worth a phone call to your insurance provider, as they may not be aware of the change. The LOMRs currently posted on the City’s site are:

  • West Wind Inn – 3345 West Gulf Dr
  • Beachcomber condo – 635 East Gulf Dr
  • 1243 Par View Dr
  • Pointe Santo condo – 2445 West Gulf Dr
  • Sanibel Seaview condo – 727 East Gulf Dr
  • Island Beach Club condo – 2265 West Gulf Dr
  • Beachview Cottages – 3325 West Gulf Dr
  • Dosinia condo – 3339 West Gulf Dr
  • Sandalfoot condo – 671 East Gulf Dr
  • Island Inn – 3111 West Gulf Dr
  • Loggerhead Cay condo – 679 East Gulf Dr
  • Sanibel Arms West condo – 827 East Gulf Dr
  • Casa Ybel Resort – 2255 West Gulf Dr
  • Tanglewood condo – 1101 to 1104 Seagrape Ln
  • Sunset Beach hotel – 3287 West Gulf Dr
  • Gulfside Place condo – 1605 Middle Gulf Dr
  • 5125 Joewood Dr
  • Sundial East condo – 1401 Middle Gulf Dr
  • Sunset South condo – 1341 Middle Gulf Dr
  • Sundial of Sanibel Bldg E & K – 1501 Middle Gulf Dr

To find your property’s FEMA map location, go to https://msc.fema.gov/portal/search

2018 Hurricane Seminar

hurricane-symbol-blue-hiThe same day last week as the City seminar about the 2018 hurricane season, forecasters projected that the upcoming 2018 season may be busier than usual. As a fan of the City’s official weather consultant, Dave Roberts, it was interesting to read that he said hurricanes can happen during any month of the year when certain conditions are present. One of those is that water temperatures need to be about 80 degrees. (Right now, the gulf is about 77, 78 degrees.) According to Roberts, due to La Nina weather conditions, Atlantic Ocean water temperatures currently are one degree above average. “That’s something to be worried about,” he said.

Roberts also stressed the importance of heeding calls for an evacuation especially when powerful storm surges are expected. “I can tell you that a 15’ storm surge is very unlikely, but a 3’ to 5’ storm surge can happen. Believe me, you don’t want to get caught in that because one foot of standing water can move an SUV….”

Here’s hoping that if we are prepared, no storms will come.

Upcoming Events

ding darling48th Earth Day Celebration at J.N. ‘Ding’ Darling Wildlife Refuge, Saturday, April 21:

  • 7 a.m. to 4 p.m. – Wildlife Drive free to bikers/hikers, $5 per motor vehicle
  • 8 a.m. to 4 p.m. – Free bike rentals at Tarpon Bay Explorers
  • 9:30 a.m. – Bike refuge tour (4 miles)
  • 10 a.m. to 2 p.m. – Earth-friendly crafts in Refuge Visitor & Education Center
  • 1 p.m. – See free film STRAWS

Sanibel School Fund Blue Ribbon Golf Classic at The Sanctuary, Saturday, May 12. Call Christian at 917-763-6824 for more info/tickets.

Reminder About Watering

Lee County_logoAfter experiencing below-average rainfall from November through March, residents and visitors are reminded of Lee County’s year-‘round water conservation ordinance. It prohibits irrigation between the hours of 9 a.m. and 5 p.m. Irrigation outside of these hours is limited to Thursdays and Sundays for even-numbered addresses and Wednesdays and Saturdays for odd-numbered addresses

Sanibel & Captiva Islands Multiple Listing Service Activity April 6-13, 2018

sancap GO MLS logoSanibel

CONDOS

3 new listings: Tennisplace #A34 2/1.5 $339.9K, Sanibel Moorings #1631 2/2 $615K, Sanddollar #A104 2/2 $849K.

8 price changes: Sanibel Moorings #141 1/1 now $450K, Sanibel Moorings #1611 2/2 now $499K, Blind Pass #B209 2/2 now $569K, Sunset South #6A 2/2 now $599K, Sandpiper Beach #506 2/2 now $719K, Nutmeg Village #205 2/2 now $745K, Sunset South #1A 2/2 now $749.9K, By-The-Sea #C102 2/2 now $1.249M.

6 new sales: Sanibel Arms #D4 2/2 listed at $549K, Sandalfoot #3C1 2/2 listed at $729K, Kings Crown #312 2/2 listed at $799K, Tarpon Beach #206 2/2 listed at $799K, Surfside 12 #A4 3/2 listed at $819K, High Tide #C201 2/2 listed at $989K.

7 closed sales: Tennisplace #E33 2/1 $285K, Mariner Pointe #241 2/2.5 $615K, Sundial West #J307 2/2 $738K, Sundial West #F201 2/2 $795K, Sanibel Arms West #D5 2/2 $845K, High Tide #C101 2/2 $885K, Sanctuary Golf Villages I #3-6 3/3 $968.5K.

HOMES

6 new listings: 1621 Sand Castle Rd 3/2 half-duplex 3/2 $565K, 5303 Umbrella Pool Rd 3/2.5 $599K, 223 Daniel Dr 3/3 $898K, 829 Pyrula Ave 3/3 $1.149M, 2414 Wulfert Rd 4/4.5 $1.849M, 2564 Wulfert Rd 4/5.5 $2.149M.

16 price changes: 1717 Atlanta Plaza Dr 2/2 now $455K, 3837 Coquina Dr 2/2 now $699K, 1325 Par View Dr 3/3 now $739K, 1521 Wilton Ln 3/2 now $759.5K, 950 Cabbage Palm Ct 3/2 now $799K, 1350 Middle Gulf Dr 3/3 half-duplex now $885K, 4460 Waters Edge Ln 3/2 now $878K, 938 Pecten Ct 3/2.5 now $1.099M, 5411 Osprey Ct 3/2 now $1.099M, 1349 Eagle Run Dr 3/2.5 now $1.145M, 1126 Harbour Cottage Ct 3/2 now $1.249M, 1525 San Carlos Bay Dr 4/2 now $1.495M, 2984 Wulfert Rd 3/3 now $1.65M, 2564 Wulfert Rd 4/5.5 now $2.1495M, 3009 Turtle Gait Ln 4/4.5 now $2.795M, 1238 Isabel Dr 5/3/2 now $3.374M.

9 new sales: 813 Rabbit Rd 2/2 half-duplex listed at $399K, 3043 Poinciana Cir 4/2 listed at $525K, 1283 Par View Dr 2/2 listed at $574K, 887 Casa Ybel Rd 5/3 duplex listed at $575K, 1582 Sand Castle Rd 3/2 listed at $649K, 236 Hurricane Ln 2/3 listed at $689K, 678 East Rocks Dr 3/2 listed at $829K, 529 Lighthouse Way 3/3 listed at $1.22M, 805 Sand Dollar Dr 4/3 listed at $1.295M.

8 closed sales: 340 East Gulf Dr 2/2 $515K, 1625 Sand Castle Rd 3/3 half-duplex $575K, 474 Lake Murex Cir 3/2 $655K, 924 Beach Rd 3/2 $875K, 748 Windlass Way 3/3 $1.1M, 2629 Coconut 2/3 $1.15M, 2939 Wulfert Rd 5/5/2 $1.275M, 1083 Bird Ln 4/2.5 $3.675M.

LOTS

No new listings.

3 price changes: 976 Whelk Dr now $679K, 6000 White Heron Ln now $749K, 1226 Isabel Dr now $1.849M.

1 new sale: 2401 Blue Crab Ct listed at $679K.

1 closed sale: 6027 Dinkins Lake Rd $215K.

Captiva

CONDOS

1 new listing: Beach Villas #2423 1/1 $545K.

1 price change: Beach Villas #2414 2/2 now $640K.

No new or closed sales.

HOMES

No new listings.

3 price changes: 14860 Mango Ct 5/4 now $1.794M; 11535 Wightman Ln 4/4 now $1,999,999; 11523 Andy Rosse Ln 5/5.5 now $2.499M.

No new or closed sales.

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 week, here’s hoping your Friday the 13th has been lucky & you get to the beach this weekend!

Here’s one more photo from today. TGIF!

Susan Andrews, aka SanibelSusanIMG_5541

Sanibel & Captiva Islands Gulf/Bay Waters & 1st Quarter Real Estate Stats


SusanSusan here reporting the end of another week of gorgeous weather with the island thinning out a little as snowbirds continue to depart and “season” activities wrap up. Many locals and visitors have noticed this week that the water around the islands is beautiful, both gulf and bay side – a brilliant clear teal blue. Seeing the water like that in the spring makes one wish the summer rainy season would stay away, but it’s an inevitable part of the Florida weather cycle.

Beach

In another few weeks, regular afternoon showers will begin with the first of the afternoon puffy popcorn-like clouds already appearing occasionally, though mostly inland.

chateau 8 07-17

 

Sanibel/Captiva Real Estate

Now that first quarter is over, I always like to compare the activity from one year to the next to confirm that what the market seems to be indicating is true. Below is this year’s real estate action, compared to 2016 and 2017:

Sold/Closed Sales 1st Quarter
2016 2017 2018
 

#

Avg Sale Price $ Avg DOM  

#

Avg Sale Price $ Avg DOM  

#

Avg Sale Price $ Avg DOM
SANIBEL
Condos 38 709,628 190 32 732,686 219 34 765,668 118
Homes 44 966,872 191 58 1,047,638 138 63 1,263,989 160
Lots 6 365,333 269 11 389,074 354 3 247,333 238
CAPTIVA
Condos 4 831,125 285 10 432,600 214 11 911,783 190
Homes 8 4,096,250 309 6 2,161,667 116 9 2,462,500 169
Lots 1 1,549,000 386 1 1,925,000 294 0 N/A N/A

DOM = days on market

On Sanibel, closings indicate that homes continue to be the predominate product, with both condo and home prices on the rise. With the winter months being when the most high-end buyers are on island, it makes sense that larger more-luxurious more-expensive properties sell then.

This year, it may be surprising to see the jump in the number of closings that are posted this month and in May, since sales activity didn’t pick up until later than usual this year. Perhaps that’s related to the stock market, new tax laws, or something else. Those in the real estate business are happy that it did improve, now we hope that it doesn’t trickle off with folks leaving.

As a listing agent, an important consideration always is remaining inventory or the competition. It can provide insight into how long it may take for listings to sell, particularly at this time of the year when the next wave of prospective buyers is expected to be those who may think they can get a great deal buying post-season and before hurricane season. The below table shows the same details as the table above, but this one shows the properties currently for sale and under contract, on both Sanibel & Captiva.

Inventory as of April 6, 2018
Under Contract Without Contingencies, Awaiting Closing Under Contract With Contingencies Available

For Sale

 

#

Avg Asking Price $ Avg DOM  

#

Avg Asking Price $ Avg DOM  

#

Avg Asking Price $ Avg DOM
SANIBEL
Condos 5 1,056,100 85 25 759,076 193 104 804,055 181
Homes 19 2,016,526 125 37 1,100,088 109 192 1,431,145 168
Lots 1 239,800 278 1 59,000 413 67 646,683 363
CAPTIVA
Condos 1 2,095,000 182 0 N/A N/A 38 1,414,843 199
Homes 0 N/A N/A 3 2,696,000 418 47 3,209,702 249
Lots 0 N/A N/A 0 N/A N/A 3 4,264,667 117

Again, the data confirms that Sanibel homes are the hot commodity and indicates that it is the pricier larger ones that are moving. Many of us have buyers just waiting for the right gulf-front pool home. There haven’t been many of those for sale. Not of enough of those exist on Sanibel, which probably is what has caused the bay-front pool home market to get lots of action in the last few weeks. With 192 Sanibel homes for sale, 63 closing first quarter, and another 56 under contract, there still are a lot of homes for sale – probably better than a year’s worth of inventory in my estimation.

With Sanibel condos having 34 sales first quarter and another 30 under contract, seeing 104 on the market, probably means that’s close to a year’s worth of inventory too. I bet we see fewer condo sales than we usually do this summer, but I hope I’m wrong.

The time to move island lots and Captiva properties are tough to guess-timate because those markets are so small, specialized, and varying in price. Captiva condo statistics can be skewed too, because the 33 gulf-front Beach Home properties (priced as high as $4+million) and 68 units Land’s End Village units within South Seas Resort are home-like but are in condo associations.

So, our hopes are that brisk sales continue. Many of our winter listings have sold or are under contract, so we are looking for new listings and working hard to get our remaining listings sold. Our focus shifts to getting showings at the properties that could not be viewed “in season” due to paying guests and promoting them to agents who have not shown them, as well as reminding those who have shown previously that they still are available.

Teammate Dave held several Open Houses this week, unfortunately with little traffic, probably because of the beautiful weather. The action posted in the Sanibel & Captiva Multiple Listing Service this week follows a couple of news items below.

Leaving LIBOR, Say Hello to SOFR

miami herald logoAn interesting article was posted on-line by the “Miami Herald” last Friday, March 30, 2018. It’s by Tom Hudson who hosts “The Sunshine Economy” on WLRN-FM; @HudsonsView.

“If you have a home equity line of credit, private student loan, commercial mortgage or business loan, your payment may be tied to LIBOR. The London Interbank Offered Rate serves as the starting point for figuring out how much borrowers owe. But the interest rate underpinning trillions of dollars of loans will be changing.

“In the week ahead, the Federal Reserve Bank of New York begins publishing the SOFR. The Secured Overnight Financing Rate aims to be more reliable and less contrived. It also begins a new chapter in the massive move away from LIBOR and its lock as a fundamental price of borrowed funds.

“Deep inside most variable interest rate loan documents is LIBOR. Since the 1980s, lenders have leaned on LIBOR as the gauge to set other market interest rates. As LIBOR moves, so moves repayment costs. But it is an imperfect reflection of the cost of cash.

“LIBOR isn’t based on actual borrowing. It is a daily poll of banks, asking them what they think would be the cost to borrow from each other without using any collateral. Those are unsecured loans, and fewer banks are conducting business like that. So, the poll has become less accurate. And since it’s a survey of expected costs, not actual costs, the poll is vulnerable to manipulation. A dozen banks have paid billions of dollars in fines for rigging LIBOR rates.

“LIBOR lied. The benchmark is broken.

“Over the past four years a group of bankers, financiers and American regulators have been working toward a new reference rate. That rate, the SOFR, makes its debut Tuesday morning. It differs from LIBOR in two significant ways; It will be based on actual lending rates between banks, and it will be based on loans using US Treasuries as collateral — a more common practice than LIBOR’s unsecured loans.

“The introduction of what may become the new benchmark is far from complete. Whereas LIBOR rates include different durations ranging from overnight loans to those lasting one year, the SOFR is solely short-term money — one day.

“New variable interest rate loans likely will include references to SOFR as the new standard. Other loans may include fallback language allowing them to swap the old benchmark for a new one.

“This may seem like an arcane action by the financial industrial complex, but with trillions of dollars of consumer and business loans tethered to LIBOR, a smooth and orderly transition to a new interest rate benchmark is vital for the American economy.”

Is A Seller’s Disclosure Required?

Florida Realtors logoHaving served on the state Contract and Forms Content Committees many times, I often find that I can be too close to this question. The following article was posted on-line this week by Attorney Joel Maxson who is Director of Member Legal Services at Florida Realtors®. Joel also manages the Realtors’ Legal Hotline.

Florida is a full-disclosure state, but I have found that often when a property is not the primary residence of the seller or is a rental investment property, the seller does not always know of the property defects. Here is Joel’s posting from April 2, 2018:

“Based on what we hear on Florida Realtors Legal Hotline, most residential sellers are content to complete the Florida Realtors Seller’s Property Disclosure – Residential form (SPDR) around the same time they enter into a listing agreement. However, every now and then, a seller will balk at the idea of completing this form, prompting a member to ask what Florida law requires regarding disclosures.

“Although sellers aren’t required to complete this specific SPDR form, a residential seller does have to comply with the rule established in Johnson v. Davis. In that case, the Florida Supreme Court held that “where the seller of a home knows of facts materially affecting the value of the property which are not readily observable and are not known to the buyer, the seller is under a duty to disclose them to the buyer.” These material facts are sometimes referred to as latent defects.

“In addition, in Rayner vs. Wise Realty Co. of Tallahassee, the First District Court of Appeal provided that this same disclosure requirement applies to residential properties that are being sold as is.

“Sellers can make this disclosure in writing or verbally, although Florida Realtors attorneys recommend that it be made in writing.

“Realtors should note that the SPDR contains safeguards to ensure the seller completes the form – not the associate or broker. As a reminder to all parties, the first line of the SPDR provides “Notice to Licensee and Seller: Only the Seller should fill out this form.”

“As a separate but related issue, some brokerage companies may require that certain documents (like a seller’s property disclosure) be maintained in a file, so associates should always ensure they understand and comply with any specific requirements their company may have.”

Sanibel & Captiva Islands Multiple Listing Service Activity March 30 – April 6, 2018

sancap GO MLS logoSanibel

CONDOS

12 new listings: Casa Blanca #2 2/1 $379K, Sundial #F205 1/1 $429K, Sanibel Arms #D4 2/2 $549K, Mariner Pointe #1052 2/2 $565K, Sanibel Siesta #306 2/2 $599.5K, Sunset South #6A 2/2 $619K, Sanctuary Golf Villages I #2-5 2/2.5 $759K, Tarpon Beach #206 2/2 $799K, Sundial East #N403 2/2 $889.5K, Compass Point #102 3/2 $1.295M, Bougainvillea #B 3/3 $1.299M, Villas of Sanibel #A102 3/3 $1.495M.

3 price changes: Mariner Pointe #122 1/1 now $399K, Sanibel Moorings #941 2/2 now $524.9K, Gulfside Place #323 2/2 now $1.298M.

3 new sales: Loggerhead Cay #422 2/2 listed at $535K, Sunset South #7C 2/2 listed at $569.5K, Tamarind #B302 2/2 listed at $1.789M.

5 closed sales: Sanibel Moorings #212 1/1 $415K, Loggerhead Cay #264 2/2 $580K (our listing), Surfside 12 #A1 3/2 $790K, Sandpiper Beach #302 2/2 $835K, Gulfside Place #222 2/2 $1.05M (our sale).

GSP 222 view 2018-04

Gulfside Place #222 view

HOMES

7 new listings: 1851 Farm Trl 3/2 $629K, 1339 Tahiti Dr 3/2 duplex $679K, 247 Daniel Dr 3/2.5 $939K, 641 Lake Murex Cir 4/3 $1.125M, 1349 Eagle Run Dr 3/2.5 $1.155M, 872 Limpet Dr 3/3 $1.849M, 1324 Seaspray Ln 3/3 $1.899M.

9 price changes: 317 East Gulf Dr 3/2 half-duplex now $565K; 3784 Coquina Dr 3/3 now $595,995; 1357 Tahiti Dr 2/3 duplex now $629K; 978 Black Skimmer Way 3/2 now $695K; 5410 Osprey Ct 3/2.5 now $749K; 1545 Sand Castle Rd 4/3.5 now $1.149M; 735 Sand Dollar Dr 3/3 now $1.279M; 1743 Venus Dr 4/3.5 now $1.629M; 411 Bella Vista Way 4/4 half-duplex now $2.075M.

8 new sales: 1004 Spanish Laurel Ln 2/2 listed at $598K, 1190 Sand Castle Rd 3/2 listed at $625K, 5307 Ladyfinger Lake Rd 3/2.5 listed at $645K, 1020 White Ibis Dr 3/3 listed at $649K, 1450 Sand Castle Rd 3/2 listed at $749.9K, 852 Lindgren Blvd 4/3 listed at $1.159M, 1475 Angel Dr 3/4.5 listed at $1.549M, 1083 Bird Ln 4/2.5 listed at $3.999M.

6 closed sales: 3021 Singing Wind Dr 3/2 $485K, 1169 Sand Castle Rd 3/2 $650K, 601 Sea Oats Dr 3/2 $659.9K, 4960 Joewood Dr 3/3 $975K, 940 Spoonbill Ct 3/2.5 $1M, 747 Windlass Way 4/3.5 $2.25M.

LOTS

No new listings, price changes, or new sales.

1 closed sale: 1312 Eagle Run Dr $290K.

Captiva

CONDOS

No new listings.

2 price changes: Lands End Village #1665 2/2 now $950K, Beach Homes #25 3/2 now $1.995M.

No new sales.

1 closed sale: Bayside Villas #5144 1/2 $370K.

HOMES

No new listings.

1 price change: 11559 Laika Ln 2/2 now $5.5M.

No new or closed sales.

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.

happy weekendUntil next Friday, enjoy your week…

Susan Andrews, aka SanibelSusan

 

Another Friday On Sanibel


A steady increase in traffic is noticeable here on the island, which we expect to continue through Easter. The weather has been great this week, but an additional cold front is expected to arrive this weekend and is due to stay around all next week. Wednesday morning low looks to be in the 30’s.

Sanibelcityseal logoBoat Ramp Rehabilitation Project Complete

The City of Sanibel Boat Ramp Rehabilitation project is complete and now open to the public. The project consisted of removal and replacement of the deteriorated concrete boat ramp. The completed boat ramp includes modified slopes for improved boating access and a new v-groove pattern for added vehicle traction. The dock walkways were widened and a railing added for safety. Parking at the boat ramp is available as paid hourly or through a valid Sanibel “C” parking pass.

Sanibel & Captiva Multiple Listing Service Activity January 5-12, 2018

Sanibel

CONDOS

4 new listings: Sundial West #J307 2/2 $759K, Surfside 12 #A1 3/2 $799K, Sanibel Arms West #D5 2/2 $849K, By-The-Sea #B202 2/2 $1.249M.

6 price changes: Lighthouse Point #220 2/2 now $450K, Mariner Pointe #521 2/2 now $475K, Sanibel Arms West #H2 2/2 now $499K, Mariner Pointe #1061 2/2 now $589.9K (our listing), High Tide #C101 2/2 now $939K, Gulfside Place #123 2/2 now $1.248M.

1 new sale: Blind Pass #D105 2/2 listed at $419K.

4 closed sales: Sundial West #G105 1/1 $425.1K, Loggerhead Cay #153 2/2 $870K, Sanibel Moorings #1221 3/2.5 $965K, By-The-Sea #9 3/2 $1.749M.

HOMES

8 new listings: 6143 Henderson Rd 4/3 $489K, 1169 Sand Castle Rd 3/2 $679K, 1550 Centre St 4/3 $725K, 1245 Anhinga Ln 3/2 $875K, 938 Pecten Ct 3/2.5 $1.195M, 569 Lighthouse Way 3/3 $1.395M (our listing), 4641 Belle Mer 3/2.5 $3.295M, 1310 Seaspray Ln 4/4 $5.795M.

6 price changes: 3784 Coquina Dr 3/3 now $625K, 9446 Beverly Ln 3/3.5 now $874.5K, 1470 Angel Dr 3/2 now $920K, 5402 Osprey Ct 4/3 now $1.025M, 1672 Hibiscus Dr 3/2 now $1.249M, 2167 Starfish Ln 4/4.5 now $1.975M.

8 new sales: 9292 Kincaid Ct 3/2 listed at $489K, 5301 Ladyfinger Lake Rd 3/2 listed at $649K, 1323 Par View Dr 3/2 listed at $649K, 1513 Sand Castle Rd 3/2.5 listed at $689K, 1314 Par View Dr 3/2 listed at $800K, 1341 Sand Castle Rd 3/2 listed at $845K, 1035 Kings Crown Dr 4/3 listed at $1.7495M, 547 Kinzie Island Ct 4/4.5 listed at $1.789M.

4 closed sales: 1312 Par View Dr 3/2 $685K, 700 Nerita St 3/2 $675K, 932 Whelk Dr 3/3 $1.15M, 3869 West Gulf Dr 6/7/2 $7.8M.

LOTS

7 new listings: 1313 Par View Dr $365,555; 809 Pyrula Ave $475K; 217 Violet Dr $575K; 3304 Saint Kilda Rd $699K; 6000 White Heron Ln $169K; 0 Sawgrass Pl $949K; 1321 Seaspray Ln $995K.

3 price changes: 2486 Wulfert Rd now $169K, 0 Island Inn Rd now $279K, 5251 Indian Ct now $729K.

No new or closed sales.

 Captiva

CONDOS

1 new listings: Beach Villas #2621 2/2 $650K.

No price changes or new sales.

3 closed sales: Sunset Captiva #201 2/2 $830K, Beach Homes #7 2/2 $1.4M, Beach Homes #8 4/3 $2.35M.

HOMES

1 new listing: 10 Sunset Captiva Ln 2/2.5 $989K.

1 price change: 11509 Chapin Ln 4/4 now $2.149M.

2 new sales: 15154 Wiles Dr 4/3 listed at $1.495M, 16167 Captiva Dr 4/3 listed at $1.595M.

1 closed sales: 14865 Mango Ct 2/2 $850K.

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.

Have a Great Weekend!

Elise for The SanibelSusan Team

Happy New Year From Sanibel


We have enjoyed another week of nice weather here on Sanibel. Today and into the New Year we are expecting a “cool front” with morning lows in the 50’s (later next week to be in the 40’s) & the afternoons warming to the mid 60’s, low 70’s. Lots of people this week, walking, biking, & filling up the roads. Here at the office we know when it is 3:30, as the cars are stopped on the road out front.

polar bear plungeNew Year’s Day Polar Bear Plunge

On Monday, January 1, the Sanibel-Captiva Chapter of the National Polar Bear Club will hold its 18th annual meeting at “the crack of noon” at Tarpon Bay Beach (the south/gulf end of Tarpon Bay Road). The meeting will begin with the singing of the traditional Polar Bear anthem by the Cubbies (first-timers), Juveniles (one-time previous dippers) and seasoned Adult bears (those who took the plunge in previous years). Following the anthem, the Polar Bears will enter the “icy” gulf waters. Everyone is welcome. Chairs and coolers are optional.

Sanibel Library Earns Award

sanibel libraryThis year marks the fourth time the Sanibel public library has been recognized as one of the best libraries in the country by Library Journal. The rating is based on the number of people walking through the library’s doors, number of program attendees and the number of books checked out. The rating is also based on electronic material.

“Ding” Darling Announces 2018 Film Series

ding darlingThe sixth annual “Ding” Darling Wednesday Film Series kicks off its bi-weekly showings this winter with a schedule of seven films that explore natural facets from pollinators and coral to wild Florida and the war on coal. It runs Jan. 10 through April 4.“Ding” Darling Wildlife Society-Friends of the Refuge hosts the free film showings in the “Ding” Darling Visitor & Education Center with sponsorship from Sanibel-Captiva Beach Resorts. Seating is limited and on a first-come basis.

Below are the season’s scheduled films. All films begin at 1 p.m. except the Jan. 24 film, which airs at 10a.m. A short discussion will follow each film to allow visitors to gain more from their documentary-viewing experience by listening to other people’s points of view and analyzing what they just watched. For full descriptions of the films, please visit www.dingdarlingsociety.org

Jan. 10 – Wings of Life

Jan. 24 – Tapped

Feb. 7 – From the Ashes

Feb. 21 – Chasing Coral

March 7 – The Forgotten Coast: Return to Wild Florida

Mach 21 – Mission Blue

April 4 – STRAWS

Sanibel & Captiva Multiple Listing Service Activity December 22-29, 2017

Sanibel

CONDOS

1 new listing: Sundial West #F308 1/1 $439K.

No price changes.

3 new sales: Sanibel Moorings #1221 3/2.5 listed at $1.095M, White Sands #32 2/2.5 listed at $1.095M, Bandy Beach #A101 3/2 listed at $1.299M (our Buyer).

1 closed sale: Captains Walk #A8 2/2 $347K.

HOMES

2 new listings: 5299 Umbrella Pool Rd 3/2.5 $539K, 5411 Osprey Ct 3/2 $1.295M.

2 price changes: 563 Hideaway Ct 3/2 now $699K, 4460 Waters Edge Ln 3/2 now $898K.

3 new sales: 1394 Middle Gulf Dr half-duplex listed at $524.9K, 1943 Sanibel Bayou Rd 3/3 listed at $649.9K, 5743 Baltusrol Ct 3/3/2 listed at $1.495M.

6 closed sales: 1390 Middle Gulf Dr 3/3 half-duplex $430K, 1187 Sand Castle Rd 3/2 $635K, 2030 Sunrise Cir 3/3 $605K, 1195 Par View Dr 3/2.5 $1M, 519 Kinzie Island Ct 3/2.5 $1.25M, 750 Periwinkle Way 5/4 $1.49M.

LOTS

2 new listings: 4538 Bowen Bayou Rd $258K, 1817 Long Point Ln $399,555.

2 price changes: 5116 Sea Bell Rd now $169.5K, 5126 Sea Bell Rd now $169.5K.

No new or closed sales.

 Captiva

CONDOS

No new listings or price changes.

1 new sale: Captiva Shores #4B 3/2.5 listed at $1.495M.

No closed sales.

HOMES

4 new listings: 41 Oster Ct 2/2.5 $1.085M, 16163 Captiva Dr 3/2 $2.795M, 1124 Longifolia Ct 4/5 $4.3M, 15867 Captiva Dr 3/3.5 $4.895M.

No price changes.

1 new sale: 11526 Laika Ln 4/4 duplex listed at $1.749M.

No closed sales.

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.

happy new year

Happy New Year!

Elise for The SanibelSusan Team

Sanibel Luminary 2017 Is About to Begin


11-24-2017 beach

Lake O releases are being reduced again starting today, but already one can see water quality improving.

 

 

It’s SanibelSusan posting her Friday island blog a little early today as it’s almost time to head out for the kick-off of Sanibel Luminary at The Sanibel Historical Village and Museum. The islands Community Chorus is singing from 4-4:45 p.m., followed by the Sanibel Band. Then at 5:30 p.m., the official Luminary Trail is lit with festivities until 9 p.m.

The islands already are twinkling with holiday lights and decorations, but it hardly feels like December weather. Yesterday it hit the mid-80’s, but it’s back into the high 70’s today.

More of the same is expected until the end of next week when a cold-front (Florida-style) is expected. (That means perhaps highs in only the 60’s next Thursday and Friday.)

This weekend, it looks like attendees can forget their ugly Christmas sweaters and go with “shorts’ for Sanibel’s Luminary tonight and Captiva’s tomorrow.

SanibelSusan Realty Happenings

In preparation, the island seems to have settled into a pre-Christmas mode this week. Little sales action was announced yesterday at the Thursday Realtor® Caravan meeting.

I was pleased to announce the quick sale of our new listing overlooking Dinkins Bayou on Harbour Lane and we had two of the properties on the 9 a.m. to noon Caravan that followed the meeting.

The action posted in the Sanibel & Captiva Islands Multiple Listing Services since last Friday follows a couple of news items below.

Upcoming Events

  • Elf Jr. The Musical – This comedy is running from now through Tues, Dec 5 at The Community House. The Community House theater is a unique space with the audience on three sides, you become part of the show. Creative Theater Workshop will also have auditions for Aladdin, Jr on Sat, Dec 2 at The Community House for youth ages 8 to 18. This show will feature workshops in stage combat, special effects, fencing/sword fighting, singing, dancing and acting. Audition sign-ups at www.CTW.Life.
  • Shell Harbor Boat Parade – This is a new event planned by the homeowners’ association to be held Sat Dec 16 with boats gathering at 5:30 p.m. and the parade starting shortly after. It will begin just outside Sanibel Harbour in San Carlos Bay and proceed down the main Shell Harbor canal before turning around in the Victoria Cove basin. Find more info at the Shell Harbor Property Owners Association Facebook page.

2017 Hurricane Season Has Ended – But Issues Linger

The following article from Tallahassee was posted yesterday on line at FloridaRealtors® and credited to Jim Turner of “News Service of Florida”.

“Thursday was the last day of the highly active, deadly and destructive 2017 Atlantic hurricane season, but Floridians will feel its impact for years.The massive hit from Hurricane Irma caused direct physical and emotional impacts in Florida, and ripples continue to come ashore as thousands of people flee Hurricane Maria’s devastation in Puerto Rico and the U.S. Virgin Islands.

“Politicians are scrambling to determine how much of the next state budget will be dedicated to covering losses that may or may not be paid by the federal government. They’re also looking at regulatory changes for nursing homes and debris-removal companies, as well as changes dealing with issues such as evacuation lanes, shelters and a potential state fuel reserve.

“Gov. Rick Scott, who was a visible face before and after Irma struck, said Monday that he’d like to boost the availability of propane for generators before the 2018 storm season. “You always learn something,” Scott said. “Everybody had generators. This last time we started running low on propane. I want to make sure that doesn’t happen again. But everyone did a good job. Highway safety, we kept the fuel going.”

“Visit Florida spent $5 million to tell potential tourists that the state quickly reopened after Hurricane Irma, even as scars from the September storm remain etched across agricultural fields and the Florida Keys….

“Members of the House Select Committee on Hurricane Response and Preparedness will meet Monday and discuss potential storm-related recommendations for the 2018 legislative session, which starts in January. Among the possibilities are legislation about housing, agriculture tax relief, hardening for emergency-operations centers and management of shelters.

National weather service logoMark Wool, the warning coordination meteorologist at the National Weather Service’s Tallahassee office, called 2017 the busiest for the Atlantic since 2005.”We didn’t have any things working against tropical cyclone development like in recent years,” Wool said. “There was no El Nino in effect, which tends to suppress things. Didn’t see a lot of dust coming off Africa. We had a very warm ocean and the depth of the warm water was quite large. And all of those things tend to fuel development of a lot of storms.”

“Emergency management officials each year stress preparing for hurricanes. But Wool said the flatness of Florida requires additional vigilance by coastal communities against flooding, as the state is also experiencing a period of rising sea levels. “Parts of South Beach are flooding now without any storms. Blue skies, tidal flooding, the king tides,” Wool said. “We’ve seen times in the historic record where we’ve had large fluctuations in sea level, and we’re certainly on the upswing.”

“As of Nov. 13, more than 830,000 property owners across the state had filed claims for $5.88 billion in insured losses from Irma, which was one of four storms – Tropical Storm Emily, Irma, Hurricane Nate and Tropical Storm Philippe – that had a direct impact on the state during the six-month hurricane season.

Emily in early August made landfall on Anna Maria Island and quickly was downgraded to a tropical depression. Nate brushed the western Panhandle on Oct. 8 as the center of the storm came ashore near Biloxi, Miss. Philippe brought rain and couple of tornadoes to the southern part of the state as it made landfall Oct. 29 with 45 mph winds in Southwest Florida.

Hurricane irma map“Overall, there were 17 named storms this year. The most devastation came from Harvey’s Aug. 26 landfall in Texas, Irma’s double landfall and run-up of Florida starting Sept. 10, and Maria’s destruction of utilities and other infrastructure across Puerto Rico on Sept. 20. While spinning in the Atlantic, Irma reached maximum sustained winds of 185 mph, a pace it held for a record 37 consecutive-hours. Nate also set a record in October for the fastest forward motion recorded for a hurricane in the Gulf of Mexico.

“We certainly did establish some records,” Wool said. “Harvey’s rainfall established a new rainfall record for one system in the United States. I think some areas had 60 inches of rains, which was phenomenal.”

“Irma also set new benchmarks for evacuees – an estimated 6.5 million people left their homes in advance of the storm – and power outages and restoration crews. Florida Power & Light, for example, reported 90% of its customers – about 10 million people – were without power on average 2.3 days.

“The agriculture industry has put a preliminary estimate of $2.5 billion on its losses from the storm.

However, Florida leaders have yet to convince the White House and Congress to include an estimated $761 million in losses to the citrus industry in a series of disaster-relief packages this year. State Agriculture Commissioner Adam Putnam again implored Florida’s congressional delegation on Tuesday to support U.S. Rep. Tom Rooney’s proposal to add $1.5 billion for Florida’s agricultural industry to a $44 billion disaster-relief request sent to Congress on Nov. 17 by the White House Office of Management and Budget.

“While awaiting federal assistance, Scott authorized a $25 million interest-free loan program for citrus farmers.

“Visit Florida, meanwhile, directed $5 million from its tourism budget for a special post-Irma marketing campaign, and Scott has requested lawmakers boost Visit Florida’s marketing dollars from $75 million in the current year to $100 million because of the need to have post-disaster marketing money readily available.

“Despite the state saying tourism numbers continue to climb, hotels remain closed in parts of the Keys, where housing issues have grown for workers after Irma devastated a number of areas outside of Key West. The Islamorada Resort Company, which hired more than 500 construction workers to repair storm damage at four locations on the islands, is reopening the first of the four on Dec 15 and the second a month later….”

Sanibel & Captiva Multiple Listing Service Activity November 24-December 1, 2017

Sanibel

CONDOS

4 new listings: Captains Walk #D5 2/1 $299.5K, Sunset South #7C 2/2 $598K, Cottage Colony West #101 1/1 $649K, Shorewood #2B 3/3 $1.568M.

3 price changes: Seashells #40 2/2 now $349.9K, Kimball Lodge #303 1/2 now $599K, Pointe Santo #B2 2/2 now $799K.

4 new sales: Seashells #44 2/2 listed at $339K, Sunset South #1C 2/2 listed at $685K, Nutmeg Village #205 2/2 listed at $769K, Bougainvillea #A3 4/4 listed at $3.695M.

2 closed sales: Seashells #11 2/2 $331K, Nutmeg Village #100 2/2 $950K.

HOMES

10 new listings: 1438 Sandpiper Cir 3/3.5 half-duplex $414K; 5306 Ladyfinger Lake 3/2 $549K; 9240 Belding Dr 3/2.5 $585K; 749 Cardium St 3/2 $769K; 1450 Sand Castle Rd 3/2 $799K; 1807 Serenity Ln 3/2 $799,999; 3239 Twin Lakes Ln 3/2 $979K, 899 Almas Ct 3/2 $1.249M; 490 Sawgrass Pl 3/2.5 $1.695M; 547 Kinzie island Ct 4/4.5 $1.789M.

6 price changes: 4542 Bowen Bayou Rd 3/2 now $572K, 1317 Par View Dr 3/3 now $629K, 241 Violet Dr 3/2.5 now $750K, 932 Whelk 4/3 now $1.224M, 1672 Hibiscus Dr 3/2 now $1.269M, 411 Bella Vista Way 4/4 half-duplex now $2.15M.

5 new sales: 915 Palm St 3/2 listed at $475K, 1187 Sand Castle Rd 3/2 listed at $635K, 2030 Sunrise Cir 3/3 listed at $649K, 2510 Harbour Ln 2/2 listed at $749K (our listing), 411 Bella Vista Way 4/4 listed at $2.15M, 4649 Rue Belle Mer 3/2.5 listed at $2.595M.

2 closed sales: 1270 Bay Dr 3/2 $1.334M, 3547 West Gulf Dr 4/4 $3.9M.

LOTS

1 new listing: 2460 Library Way $349K.

1 price change: Lot 27, Leisure Acres now $59K.

No new or closed sales.

Captiva

CONDOS

1 new listing: Sunset Beach Villas #2212 1/1 $530K.

1 price change: Beach Villas #2617 1/1 now $525K.

No new or closed sales.

HOMES

1 new listing: 11535 Chapin Ln 4/3 $1.449M.

No price changes, new, or closed sales.

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 transaction.

Wishing you fair weather & a great weekend too! Susan Andrews aka SanibelSusan

SanCap Aerial 11-29-2017 Jim Szabo

Photo posted on Facebook by Jim Sazbo SanCap Aerials

Veterans Day Weekend on Sanibel


Today On Island 11-10-17

It’s Susan with your Friday news from The SanibelSusan Team. After recent reports about the weather up north, you may not want to hear that it has been another week of wonderful weather here. (Photo above taken today. It doesn’t get much prettier!) Temperatures topping out in the low 80’s and cooling into the 60’s at night is near- perfect to many locals. We hope it continues.

The roadways and bike paths continue to fill up, so though we are not quite into “season”, it is getting close. I heard the first “the traffic is awful” comment this week. That very well may be the norm this winter. With so many resort areas in Southern Florida and the Caribbean recovering from the summer storms, I bet Sanibel and Captiva are more popular than ever this winter. Many vacation rental properties already report that they are “fully booked” for season.

At the Sanibel & Captiva Island Association of Realtors®

Sanibel realtors logoWed evening from 5 to 7 p.m., the Sanibel/Captiva Association of Realtors® “Fall Into Christmas” benefit for Friends Who Care was a huge success. Member attendees and their families and guests came with unwrapped toys, gift cards, and check/cash donations. With close to $3,000 collected as well as a tree full of toys, these contributions will be delivered to this local non-profit before their toy sorting and wrapping event at The Community House on Dec 19. Deliveries then will be made by Kiwanis Santas on Dec 23.

It sure was fun and rewarding to spearhead such an event. Thank you to event sponsors: American Momentum Bank, Barrier Island Title, Dorado Property Management, Florida Community Bank, Private Client Insurance Services, Rosier Insurance, Seacoast Cottage Company, Superior Title, and Tru-Clean Carpet and Tile Care.

Thanks too to Danny Morgan who provided the music and Jim Anderson the photos, while many Realtors and affiliate business partners helped behind the scenes, especially our hardworking committee members, aka Santa’s elves.

Fall Into Christmas

Yesterday was the first “east end” Caravan of the now-weekly schedule. Thirteen new listings were open for viewing, with several other new listings announced too, but only a handful of new sales.

Next week is “west end” caravan, followed by Thanksgiving, so the next “east end” caravan is not until Nov 30. We will have our new Anchor Drive listing open then.

A weekly report after a few news items below, covers the action posted in the Sanibel and Captiva Islands Multiple Listing Service since last Friday.

Upcoming Events

Memorial Day Eagle FlagVeterans Day Ceremony – Tomorrow, Saturday, Nov 11, on the grounds of Sanibel City Hall at 10:45 a.m.

Taste of the Islands – CROW’s 36th annual fundraiser, this year called “A Taste of CROW at Taste” is Sunday, Nov 12, from noon to 5 p.m. at the Sanibel Community House and Park, right across the street from our office. The new twist this year is the opportunity to attend programs and visit some of the animal ambassadors. Bring your lawn chairs, but no pets, as wildlife will be there this year. Tickets are $7 for adults. Free for children up to 12. The trolley starts at 11 a.m. with parking available at Bank of the Islands, Sanibel-Captiva Trust Company, and the Post Office. Starting at 1 p.m., parking also is available at the three near-by churches.

crow 36th tasteInside the Community House, at 12:30 p.m., 2 p.m. and 3 p.m., CROW will have animal ambassador presentations with Bashful (a Virginia opossum), Sheldon (the gopher tortoise), Lola (an American Kestrel), and Violet (an Eastern Indigo snake). Also at The Community House, attendees may purchase from the popular Adopt-A-Species program. Some of the species offered for adoption include a bald eagle, sea turtle and gopher tortoise. A silent auction in The Community House will be ongoing until 4:30 p.m.

Outside, fourteen restaurants are participating in the event and looking for your votes. Dishes will range in price from $1 to $6 and can be purchased with CROW bucks. Beer, wine, and margaritas will be available, plus a variety of music by LCEC Killa-Watts will entertain all afternoon.

give-thanksAnnual Sanibel Thanksgiving Celebration – Sunday, Nov 19, at 6:45 p.m. at The Community House. Free admission. A non-denominational program with music and song by the BIG ARTS Community Chorus and Sanibel School’s Seahorse Chorale. Following the celebration, cookies and apple cider donated by Bailey’s General Store and Jerry’s Foods. Guests are encouraged to bring a donation for FISH of San-Cap.

To Addendum Or Not to Addendum?

Florida Realtors logoThose of you who know me well, know that I am conservative and a stickler for detail. Some good examples are offered in the below article posted on-line Nov 6 at FloridaRealtors®.org. It is by Meredith Caruso, Manager of Member Legal Communications for Florida Realtors®.

“In an ideal world, after a buyer and seller execute a contract, things proceed seamlessly, no issues arise at all, and the parties close on their agreed-upon closing date.

“The reality: While that can occur in your transactions, many times it just isn’t the case. One thing or another pops up along the way, and the parties need to change their current agreement, whether that’s an extension of a closing date or amending the contract to add a new term. Before you race to grab an addendum, though, first consider whether or not it’s actually needed. Depending on the details, it’s entirely possible you don’t need to do anything. This article considers a few different scenarios that can occur and whether or not an addendum is needed. (For purposes of this article, the Florida Realtors/Florida Bar (“FR/Bar”) contract is referenced).

“Scenario 1 – The title company handling the closing finds a lien on the property that the seller didn’t realize was there. The seller says he’ll handle it, but it probably can’t be settled on time for the agreed-upon contract closing date. Do the parties need to sign an extension for the closing date? In short, no.

“Per Standard 18A of the FR/Bar contract, the buyer is supposed to notify the seller, in writing, of any defect in the title commitment within five days after receiving it. The seller then has 30 days after receiving this notice, defined as the seller’s Cure Period, to “take reasonable diligent efforts” to remove the defect. Assuming the seller is able to fix the defect within the Cure Period, the seller needs to notify the buyer in writing, along with proof of the cure acceptable to the buyer, and the parties should proceed to closing.

If the closing date has passed during the 30-day cure period, the closing is to take place “within 10 days after buyer’s receipt of seller’s notice.” In this example, there’s no need for the parties to sign an extension since the contract already addresses how the closing should proceed in the event of a title defect.

“Scenario 2 – The buyer and seller have an “As-Is” version of the FR/Bar contract. The buyer performs her inspection and decides she wants to ask the seller for repairs. The buyer’s agent emails the listing agent to ask about the seller’s willingness to make repairs. The seller verbally indicates he is willing to fix the some of the items the buyer is asking about – but not all. Is an addendum needed? In short, it probably is.

“It could be an addendum extending the inspection period so the parties can further negotiate the repairs, or it could be an addendum to address the agreed upon repairs. In either case, the parties should have something in writing. It’s not a good idea to rely on verbal representations about a party’s willingness to make repairs; and it’s not a good idea to think that simply inquiring about repairs provides more time or an automatic extension of the inspection period. The seller could refuse to honor the repairs later and the buyer likely would have little recourse.

“Additionally, there is no “pause button” on your inspection period clock. Even if the parties are negotiating repairs, the clock is still ticking. If the buyer can’t get an agreement in writing with the seller about the repairs or an extension for the inspection period, she will need to decide whether to cancel the contract before the inspection period ends or her deposit could be at risk.

“Scenario 3 – A hurricane sweeps across Florida. While the property isn’t damaged, power is out around the state and the title company doesn’t have any power to conduct a closing on the agreed-upon contract closing date. Do the parties need to get an addendum to extend the closing date? In short, no.

“Standard 18G addresses this scenario and states, in sum, that neither party will be required to perform any obligations under the contract when the non-performance is due to Force Majeure. All time periods will be extended “a reasonable time up to 7 days after” such Force Majeure no longer prevents performance. So, in this example, the parties should close within 7 days after the title company regains power and can process the closing. No addendum is necessary since the contract already addresses what happens when a defined Force Majeure event prevents performance.

“Note: It’s important to keep in mind that all contracts are different, and the above examples are specific to just one contract. In general, when in doubt over whether an addendum is necessary or not, look to the contract provision that covers the issue. Many times, these types of “what if” scenarios are considered by the contract terms and can save the agent from taking additional – and possibly unnecessary – steps.”

Sanibel & Captiva Multiple Listing Service Activity November 3-10, 2017

sancap GO MLS logoSanibel

CONDOS

4 new listings: Coquina Beach #3C 2/2 $449K, Sundial West #G206 1/1 $509.5K, Sanibel Arms West #H2 2/2 $529K, Gulfside Place #323 2/2 $1.498M.

5 price changes: Loggerhead Cay #434 2/2 now $629K, Cottage Colony West #132 1/1 now $654.9K, Cottage Colony West #108 1/1 now $654.9K, Snug Harbor #312 3/2 now $672.5K, Shorewood #1C 3/2 now $875K.

3 new sales: Coquina Beach #5B 2/2 listed at $399K, Sundial West #H409 1/1 listed at $465K, Blind Pass #B207 2/2.5 listed at $499,997.

3 closed sales: Mariner Pointe #811 2/2 $420K, Sunset South #6D 2/2 $470K (our listing), Cottage Colony West #138 1/1 $570K (our sale).

HOMES

9 new listings: 1717 Atlanta Plaza Dr 2/2 $472K, 1057 Seahawk Ln 3/2.5 $699K, 700 Nerita St 3/2 $725K, 5430 Osprey Ct 3/3 $839K, 5280 Ladyfinger Lake Rd 3/2 $895K, 734 Anchor Dr 3/2 $999K (our listing), 2190 Starfish Ln 3/3 $1.3959M, 4992 Joewood Dr 3/3.5 $1.595M, 3757 West Gulf Dr 4/4 $7.595M.

Dock c

Dock at 734 Anchor Dr

 

6 price changes: 9292 Kincaid Ct 3/2 now $499K; 1040 Sand Castle Rd 3/2 now $599K; 673 East Rocks 3/2 now $688,888; 563 Hideaway Ct 3/2 now $724K; 900 Almas Ct 3/3.5 now $1.199M; 2939 Wulfert Rd 5/5/2 now $1.445M.

1 new sale: 3869 West Gulf Dr 6/7/2 listed at $8.495M.

5 closed sales: 2489 Harbour Ln 3/2 $670K, 419 Lighthouse Way 4/3 $797.5K, 6081 Henderson Rd 3/2 $740K, 2628 Coconut Dr 3/2.5 $1.2245M, 5639 Baltusrol Ct 4/4.5 $1.695M.

LOTS

No new listings or price changes.

1 new sale: 461 Lake Murex Cir listed at $349K.

No closed sales.

Captiva

CONDOS

Nothing to report.

HOMES

2 new listings: 48 Oster Ct 2/2.5 $865K, 56 Sandpiper Ct 2/2.5 $889K.

1 price change: 11559 Laika Ln 2/2/2 now $5.995M.

1 new sale: 14865 Mango Ct 2/2 listed at $929K.

No closed sales.

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.

Always Remember… Veterans… on Veterans Day & every day!flag-p-sm

Susan Andrews aka SanibelSusan

 

Sanibel/Captiva Scoop – Labor Day Weekend 2017


It’s SanibelSusan reporting that Sanibel & Captiva have pretty much dried out from the three days of rain experienced last weekend. My street was flooded until Monday afternoon.

Anchor rain

Local area schools and City offices were closed on Monday, due mostly to flooding in off-island areas.

But, by Tuesday through today, the weather has been sunny and mostly bright with any lingering showers inland. Reports too are that the shelling has been great!

Now we are all keeping a close eye on Hurricane Irma. The end of hurricane season can’t come soon enough for me, sure still seems like the end of Nov is a long way off.

 

SanibelSusan Realty Associates

Sanibelsusan LogoThis being what often is considered the “slowest week” of the year, it was good timing for the rain, yet a real surprise to get a showing request Sunday afternoon amid the downpours. It also was a real treat to work with a couple of sisters here for their first visit – who after just two days decided they needed to look at real estate. They were leaving the island midday Monday, unfazed by the showers, already fascinated with Sanibel, and even talking of moving here.

So much fun to work with prospects who know this is the place for them – appreciating the ambience, beaches, environmental conscience here. No offers yet, but the action posted in the Sanibel & Captiva Multiple Listing Service this week, follows a few news items below.

Sanibel & Captiva Islands Association of Realtors®

San Cap LogoNo Caravan meeting this week, but our Communications/Public Relations Committee met Tuesday morning and made plans to accelerate our Sept donation project so that we could help the victims of Hurricane Harvey. (The paragraphs below describe what we are doing and how you can help too.)

Tuesday midday, at a surprise luncheon at Casa Ybel Resort’s Thistle Lodge, our Association of Realtors® celebrated the retirement of our CEO Peggy Hummel who has been a steady stabilizing leader for our organization for many years. We hated to see her go, but appreciate that she left us in good hands. Best wishes, Peggy!

PeggyPeggy Party

NAR gray-logoRealtors® Helping Nationally The National Association of Realtors® in a broadcast email on Tues, asked members to support victims of Hurricane Harvey.

“Our hearts go out to the tens of thousands of families who have been displaced by catastrophic storms on the Texas coastline. Officials are calling Hurricane Harvey and the subsequent flooding a 500-year weather event, one of the most epic storms in our nation’s history.

“When disaster strikes, REALTORS® step up, whether that’s to deliver food, water, or other vital assistance or to donate money to those in need. That’s where the REALTORS® Relief Foundation comes in. Since its inception in 2001, the RRF has raised more than $25 million to provide mortgage and rental assistance to victims of more than 50 disasters, including wildfires, floods, hurricanes, and tornadoes. RRF is a 501(c)(3) charitable organization, with administrative costs covered by the National Association of REALTORS®. That means 100% of all donations go directly to victims of disaster.

“NAR is calling on the REALTOR® family to donate funds to the foundation to support storm victims in Texas. Martin Edwards, a REALTOR® from Tennessee, serves as president of the foundation board. Martin has said, “Harvey may require our REALTOR® family’s largest effort since Hurricane Katrina—or even 9/11. Hopefully, REALTORS® across America will heed the call to donate, as on-the-ground membership in Texas will be stretched beyond belief.”

“We are asking you to join us in this effort with your personal donation to the REALTORS® Relief Foundation. You can do so in less than one minute using your credit card on our secure online form. Or you can send a check payable to RRF to REALTORS® Relief Foundation, 430 N. Michigan Ave., Chicago, IL 60611. Write “RRF Contribution” in the memo line.

“Please send your donation today so your contribution can reach people who need it now. Our efforts both reflect and depend on the generosity of REALTORS®. Together, let’s continue to make a difference. Thank you.”

Florida Realtors logoRealtors® Helping at State Level & Here on Sanibel & Captiva Islands – Florida Realtors® is coordinating preparation of “totes for hope” and the Sanibel & Captiva Islands Association of Realtors® is part of that effort. We are collecting the following travel-sized items which will be individually packaged into Ziplock® bags – with one item in each bag.

Shipments to Houston begin today and will continue through next Friday, so please drop any donations off before Wed, Sept 6 at The Sanibel & Captiva Islands Association of Realtors® Office at 2353 Periwinkle Way, Suite 201 (located upstairs over Finnimore’s Cycle Shop, in the building behind Winds).Sanibel realtors logo

My hard-working always-willing-to-help Communication/Publications Committee members will work bagging them on Wed afternoon, after which the bags will travel to the Naples Board of Realtors® which is the drop-off point for our Southwest Florida District.

  • Adhesive Bandages
  • Safety Pins
  • Toothbrushes
  • Toothpaste
  • Dental Floss
  • Deodorant
  • Body wash
  • Hand sanitizer
  • Disposable Razors
  • Shaving Cream
  • Combs/Brushes
  • Small Bars of Soap/Body Wash
  • Cotton Swabs
  • Pocket Tissues
  • Lotion
  • Mouthwash
  • Lip Balm.

Flooded Homes Can Be Fixed But…

realtor.comThis timely article was posted by Realtor.com on Tuesday, Aug 29, 2017:

“As Hurricane Harvey moves off the coastline of Texas, it’s leaving massive flooding in its wake that has destroyed homes and businesses.

“Until the floodwaters recede, cleanup efforts are mostly on hold. But remediation companies say they’re ready to jump into action as soon as they’re able. In preparation for the undertaking, here are a few important items to share about repairing a flooded home, compiled by realtor.com®.

“Time is of the essence.

A home that has been flooded does not need to be torn down, but the water does need to be removed quickly. Truck-mounted vacuums with 2,000 horsepower and dehumidifiers can extract moisture from furniture, hardwood, tile, and Sheetrock. But Robyn Kent, a claims administrator at Dalworth Restoration in Euless, Texas, says the most important element is getting it cleaned up quickly: “Closer to the three- to five-day mark is when it becomes questionable, since by then, all the materials have become fragile.”

“Mold is the real issue.

“One of the biggest problems—especially in Houston in the summer—is going to be mold,” Tyler Drew, a Los Angeles real estate professional and investor, told realtor.com®. “The longer a house sits with water, the worse the mold infestation. Affected areas have to be removed, the wood and concrete treated with anti-mold agents, and all of this has to be done after the house is sealed, in order to prevent the infestation from spreading and sickening people.”

“Repair costs can escalate.

“Drying off a 2,000-square-foot house in normal conditions may cost more than $2,500, while in situations like Harvey is producing, the job scope expands quickly—and so will costs,” says Peter Duncanson, director of operations and safety with ServiceMaster Restore. Flood insurance may cover the cost of repairs, but it depends on what type of insurance the owner has. Standard homeowner’s insurance policies don’t typically cover flooding inside a home, and many in Houston don’t have flood insurance.”

Labor Day Weekend Closure

ding darling goose logoThe “Ding” Darling Visitor & Education Center will be closed on Monday, Sep 4, in observance of Labor Day.

Wildlife Drive and Tarpon Bay Explorers will remain open during usual operating hours.

Refuge and DDWS offices will also be closed on Monday.

Restaurant clip artRestaurant Vacation Closings 2017

Many have asked about what restaurants will be closed and when. Here is the summary posted on the Sanibel-Captiva Chamber of Commerce website:

Restaurant Vacation Closings 2017*

Restaurant                                                             Closing             Reopen

Bleu Rendez‐Vous French Bistro                       Sun, 8/27          Thu, 10/5

Blue Coyote Supper Club                                    Sun, 9/3            Tue, 10/3

Blue Giraffe Island Dining                                 Mon, 9/11         Sat, 9/16

Cheeburger Cheeburger                                     Mon, 8/28         Fri, 9/1

Cip’s Place                                                              Closed 9/4, then, 9/ 5‐10/1: No Lunch

Dairy Queen                                                          Mon, 9/11         Fri, 9/15

East End Deli                                                         Summer Hours 10 am‐2 pm

Gramma Dot’s                                                       Tues, 9/5          Thur, 9/28

Island Pizza Company                                         Wed, 9/6           **Wed, 9/27 estimated**

Joey’s Custard                                                        Sun, 9/10          Mon,10/2

Lighthouse Café (Sanibel)                                   Tues, 9/5          Sun, 9/10

Over Easy Café                                                       Mon, 9/11         Fri, 9/22

Rosie’s Café & Grill                                                Mon, 9/25         Fri, 10/6

Sanibel Sweet Shoppe                                           Closed Sat, Sun, Mon starting Sept

Schnapper Hots                                                      Mon, 8/21         Thurs 11/16 closing at 4 pm

Sweet Melissa’s                                                       Sun, 9/10          Tues, 10/3

The Clam Shack                                                      Mon, 9/11         Mon, 9/18

The Sandbar                                                            Mon, 8/22         Thur, 9/29

Traders                                                                     Sat, 9/2             Tues, 10/3

Traditions on the Beach                                        Closed 9/4

* Subject to change

30% of Luxury Deals Are ‘Suspicious’

CNBC_Logo_FlatInteresting article posted Wed at Realtor®Mag online this week, sourced to CNBC (Aug 24, 2017):

“A new watchdog program designed to monitor real estate deals involving shell companies has found that the buyers in 30% of high-end deals were linked to “suspicious activity,” the Treasury Department reported this week. Federal officials are now expanding the program, which aims to prevent money laundering by overseas buyers who use shell companies to mask their identities.

“The program, called the Financial Crimes Enforcement Network, focuses on major markets that attract a high volume of international buying activity, including New York, Miami, and Los Angeles. Officials this week added Honolulu to the list. The program is monitoring wire transfers of funds as well as cash deals.

““This could have a chilling effect,” Redfin chief economist Nela Richardson told CNBC. “That very high end of the market is the most vulnerable to these issues. If a lot of foreign buyers were parking their money in high-end real estate and that much of it is tainted, this rule will have an impact.”

“Under FinCEN, title insurance companies must determine the identities of shell company owners who are making cash real estate purchases at certain price points—usually more than $1 million. The Treasury Department then determines whether those shell companies have been flagged on lists of suspicious activity. FinCEN focuses on transactions worth more than $3 million in New York, $2 million in California and Hawaii, and $1 million in Florida, among other price points and locations.

““Through this advisory and other outreach to the private sector, FinCEN, [the real estate] industry, and law enforcement will be better positioned to protect the real estate markets from serving as a vehicle to launder illicit proceeds,” FinCEN acting director Jamal El-Hindi told CNBC.”

Sanibel & Captiva Islands Multiple Listing Service Activity August 25-September 1, 2017

sancap GO MLS logoSanibel

CONDOS

2 new listings: Sanibel Siesta #303 2/2 $529K, Pointe Santo #C42 2/2 $949K.

1 price change: Captains Walk #A8 2/2 now $358K.

4 new sales: Tarpon Beach #103 2/2 listed at $749K, Sundial East #O405 2/2 listed at $1.0995M, Sanddollar #A303 3/2 listed at $1.349M, Royale Tern #103 3/3.5 listed at $1.675M.

2 closed sales: Loggerhead Cay #371 2/2 $497K, Gulf Beach #102 2/2 $790K (our listing).

IMG_8429

Path from Gulf Beach

 

HOMES

4 new listings: 2539 Coconut Dr 2/2 $678K, 8995 Mockingbird Dr 3/3.5 $895K, 1396 Tahiti Dr 4/3 $898K, 2462 Wulfert Rd 4/4.5 $1.799M.

4 price changes: 5305 Umbrella Pool Rd 3/2 now $579K; 673 East Rocks 3/2 now $709,888; 2939 Wulfert Rd 5/5/2 now $1.495M; 1206 Bay Dr 4/4.5 now $3.674M.

6 new sales: 1550 Bunting Ln 2/2.5 listed at $644K, 1295 Par View Dr 3/2 listed at $675K, 474 Lake Murex Cir 3/2 listed at $689K, 732 Windlass Way 4/3.5 listed at $1.195M, 984 Oyster Ct 3/3.5 listed at $1.65M, 2379 Wulfert Rd 4/4.5 listed at $1.695M.

3 closed sales: 9113 Mockingbird Dr 3/3.5 $500K, 1237 Isabel Dr 5/6.5 $1.857M, 390 Old Trail Rd 4/4.5 $2M.

LOTS

1 new listing: 1800 Woodring Rd $2.825M.

2 price changes: 1912 Ibis Ln now $250K, 3013 Poinciana Cir now $259.9K.

No new sales.

1 closed sale: 2441 & 2453 Los Colony Rd $150K. 

Captiva

CONDOS

No new listings, price changes, or new sales.

1 closed sale: Tennis Villas #3117 1/1.5 $265K.

HOMES

1 new listing: 16525 Captiva Dr 3/3 $1.995M.

No price changes or new sales.

3 closed sales: 43 Oster Ct 2/2.5 $812.5K, 16979 Captiva Dr 7/6.5 $3.2M, 1119 Schefflera Ct 4/3.5 $4.3M.

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 general real estate activity in the community and does not imply that SanibelSusan Realty Associates is participating or participated in these transactions.)

LaborDaySignIf you have any island real estate needs, SanibelSusan is working right through the holiday weekend.

Laboring on Labor Day is not really work, if it’s doing what you love!

Enjoy your weekend!

Susan Andrews, aka SanibelSusan

Sunshine, Shells, & Sales… oh, my


SusanSusan here reporting another beautiful Friday on sunny Sanibel with unusually warm summer-like weather most of the week. A cool front (or what the weathermen call a cool front) arrived last night so the weather today – and for the weekend – is expected to be breezy, a little cloudy, and only in the mid-70’s. Back to sunshine and higher 70’s by early next week. Either way, perfect for snowbirds, visitors, vacationers, and locals.

shell-car

Traffic this week is better too. The 80th Sanibel Shell Fair and Show which started yesterday and runs through tomorrow at the newly-renovated Community House is expecting record crowds. But, cars are moving nicely along Periwinkle and in front of Sanibel Square thanks to the additional police aides directing traffic at the crosswalks.

Show award winners received their ribbons Wednesday night. Congratulations to friends Heather O’Keefe, Mindy Pierce, and Dianne Reich whose works all received ribbons.

dianne-reich-sailors-valentine

shell-jewelry

Some of Heather’s shell jewelry

heather-jewelry

Heather also has been at the Show’s Author’s Table today to autograph her new book, “American Shell Craft” with vintage hand-crafted seashell jewelry made from 1930-1970. The show is open until 4 p.m. today and again tomorrow Sat from 9 a.m. to 4 p.m. If you don’t get to the Fair and want a copy of Heather’s book, it is at Sanibel shops: McIntosh Books and Three Crafty Ladies.

seashell-top

Yes, those are sea shells.

 

 

Thursday Realtor® Caravan

Sanibel realtors logoThe Sanibel & Captiva Islands Association of Realtors® weekly morning meeting was well attended yesterday followed by an east-end caravan. I was the only Realtor® who announced “three” sales, though several others were announced. A report of the Multiple Listing Service activity since last Friday follows a few news items below.

“Working Together to Make a Difference” – As Communications and Public Relations Committee Chair, I also was happy to report that our February progress report press release in our 2017 “Working Together to Make a Difference” campaign has been submitted to local publications. It is already posted on the “Santiva-Chronicle” on line.

Two Everglades Restoration Projects – Also announced was a new recently-released study by Clemson University for the Everglades Foundation. It covers the Benefit & Benefit/Cost Calculations for Two Everglades Restoration Projects.  One, called the South Reservoir is south of Lake Okeechobee and would provide storage when the lake is too full. The other, called the North Reservoir, would be storage north of Lake O to capture water before it enters the lake. A purpose of the reservoirs is to mitigate the discharge of excess water from the lake into the St Lucie and Caloosahatchee Rivers where it damages estuaries and negatively affects water quality.

government_affairs_rpac_logo_homeA FloridaRealtors® study funded by RPAC dollars is referenced in the study. If you are interested in what the study says about how these reservoirs could affect your property values, click on the blue link above. With several bills related to water quality on the state legislature’s docket, you can be sure that local Realtors® are staying attuned to them. Over the next few weeks, there likely will be “Calls for Action”. I will be asking you to join in them.

Sanibel & Captiva Islands Real Estate “Season” Update

Now that the first two months of the year have flown by, it is a good time to see how the 2017 island real estate market is shaping up. Here is a summary of the statistics:

Available Today             Under Contract Today    Sold & Closed in 2017

No.        Average Price   No.      Average Price       No.     Average Price

Sanibel Condos          111             774,375            21             791,471                 19              821,921

Captiva Condos           30          1,198,683             3              427,667                 6               492,167

Sanibel Homes          196          1,535,822            37          1,156,577                34                941,162

Captiva Homes             33         3,063,936             9          3,420,000                 3             1,800,000

Sanibel Lots                  66            495,258              7              340,129                  7                419,617

Captiva Lots                    1             950,000            2           2,547,500                 0              N/A

Comparing current inventory to this “high season” rate of sales, there is just about a year’s worth of Sanibel inventory for homes and condos, and more than 16 months of vacant land inventory. That is a lot of inventory going into March, since sales usually slow down considerably after Easter.

On Captiva, there are 10 months of condos and almost two years of home inventory.

So, what is selling on Sanibel? Of the 19 condo sales:

  • Six are large units 2-bedrooms with den or bigger, or gulf-front, but with weekly rentals allowed – Average price = $973,200.
  • Five are 2-bedroom income-producers – Average price = $536,600.
  • Three are gulf-front residential condos – Average price = $1,246,667.
  • Two are condos with boat dockage – Average price = $569,000.
  • Two are condos at The Sanctuary golf community – Average price $602,500
  • One is a gulf-view residential condo – Price $592,000.

Of the 34 Sanibel home sales:

  • Ten are near-beach – Average price = $853,200.
  • Nine are canal-front – Average price = $1,252,111.
  • Seven are inland – Average price = $565,643.
  • Five are in golf communities (four in The Dunes, one in The Sanctuary) – Average price = $660,000.
  • One gulf-front – Price $2,400,000.
  • One bay-front – Price $1,700,000.
  • One on bayou – Price $830,000.

Of the seven Sanibel lot sales:

  • Three are on golf course (Two in The Sanctuary, one in Beachview Estates) – Average price = $263,333.
  • Two are near-beach – Average price = $395,000.
  • One is on deep-water-access canal – Price $1,050,000.
  • One on bayou – Price $307,318.

Twenty Sanibel price reductions were announced this week. March is when sellers with time constraints, should re-evaluate to ensure that their property is positioned to sell when they want. We know that it only takes one serious buyer to make a sale, but with just a few weeks of “high season” left, the pool of potential buyers will be diminishing soon.

Sanibel Designated 7th Safest City in Florida

As reported on line yesterday at “Island Reporter”, “Captiva Current”, “Sanibel-Captiva Islander”:

Sanibelcityseal logo“The City of Sanibel has been designated as the seventh safest city in Florida based upon a report “Safest Cities in Florida” released by the National Council for Home Safety and Security. There are 410 municipalities in Florida.

“Upon reading the report, Sanibel Mayor Kevin Ruane stated, “Our community places the highest priority on the personal safety of our citizens. We consider community safety an investment not an expenditure; an investment in our daily quality of life as well as our property values.”

“The methodology utilized by the National Council for determining the designations included a review of the most recent FBI Uniform Crime Report (U.C.R.), as well as population and other data. The study did not include any cities that failed to submit an FBI U.C.R. report, or cities with populations less than 5,000 persons.

“The remaining cities were ranked based on the number of reported violent crimes (aggravated assault, murder, rape, and robbery) and property crimes (burglary, arson, larceny-theft, and motor vehicle theft) per 100,000 people. These variables were then weighted with violent crimes accounting for 70% of the total (due to their severity) and property crimes accounting for 30%.

“In 2016, the City of Sanibel experienced a 6% reduction, from 112 in 2015 to 105 in 2016, within the federally reportable crimes. The City of Sanibel’s 2016 UCR of 105 crimes is the lowest recorded in the last 13 years.

“In 2016 there were 43 reported burglaries, 41 reported theft, 15 reported assaults, two reported vehicle thefts and four classified as other. The year prior, the federally reportable crimes included 24 burglary, 56 thefts, 27 assaults, three vehicle thefts and two rapes.

“”Our greatest asset to maintaining a safe community is a diligent, alert population committed to working in partnership with the police. We always urge our residents and visitors to report any type of suspicious behavior or activity. We always prefer to be in the crime prevention rather than response mode,” Chief of Police William Dalton said.”

Sanibel & Captiva Multiple Listing Service Activity February 24-March 3, 2017

Sanibel

CONDOS

5 new listings: Seashells #11 2/2 $395K, Seashells #3 2/2 $405.4K, Donax Village #1 2/2 $539K, Sanctuary Golf Villages I #5 2/2.5 $749K, Sanctuary Golf Villages I #2 3/3 $789K.

5 price changes: Sanibel Inn #3512 2/2 now $659K, Sunset South #2A 2/2 now $729K, Kings Crown #211 3/2 now $849.9K, Tanglewood #1A 3/2 now $1.05M, Pine Cove #102 3/2 now $1.397M.

2 new sales: Mariner Pointe #842 2/2 listed at $499K, Nutmeg Village #303 2/2 listed at $774K (our listing).

View b

View from Nutmeg Village #303

 

3 closed sales: Loggerhead Cay #234 2/2 $537K, Heron at The Sanctuary II #1B 3/2.5 $580K, Sundial East #L402 2/2 $735K.

HOMES

9 new listings: 644 Lake Murex Cir 3/2 $699K, 5739 Pine Tree Dr 3/2 $749K, 999 East Gulf Dr 3/2.5 $1.099M, 4080 West Gulf Dr 3/2 $1.195M, 9019 Mockingbird Dr 4/4 $1.199M, 408 Bella Vista Way 4/4 $1.595M, 2981 Wulfert Rd 4/4.5 $1.695M, 1149 Paper Fig Ct 4/3 $2.495M, 3547 West Gulf Dr 4/4 $5.25M.

15 price changes: 9436 Yucca Ct 3/2 now $619K; 545 Piedmont Rd 3/2 now $649K; 1478 Albatross Rd 3/2 now $649K; 3152 Twin Lakes Ln 3/3 now $697K; 5100 Sea Bell Rd 4/2.5 now $699K; 1052 Fish Crow Rd 3/2 now $724K; 243 Southwinds Dr 3/2.5 now $855K; 941 Pecten Ct 3/2 now $949K; 1035 Kings Crown Dr 3/2 now $1.15M; 1656 Middle Gulf Dr 3/4 now $1.199M, 732 Windlass Way 4/3.5 now $1.295M; 1525 San Carlos Bay Dr 3/2 now $1.949M; 2451 Blind Pass Ct 4/4.5 now $1,949,999; 6494 Sanibel-Captiva Rd 3/2 now $1.995M; 1083 Bird Ln 4/2.5 now $3.495M.

3 new sales: 4239 Gulf Pines Dr. 3/2 listed at $549K, 1683 Bunting Ln 3/3 listed at $779,555; 932 Whelk Dr 3/3 listed at $1.425M.

8 closed sales: 980 Sand Castle Rd 3/3 $470K, 1851 Farm Trl 3/2 $505K, 1153 Sabal St 3/2.5 $707K, 5406 Osprey Ct 3/2 $830K, 1174 Harbour Cottage Ct 3/3 half-duplex $1M, 1089 Skiff Pl 3/2 $1.089M, 539 East Rocks Dr 5/5 $1.275M, 1314 Seaspray Ln 3/3 $2.4M.

LOTS

1 new listing: 9023 Mockingbird Dr $389K.

No price changes.

2 new sales: 1550 Centre St listed at $199K (our listing), 1048 Fish Crow Rd listed at $399K.

1 closed sale: 629 Lighthouse Way $1.05M.

Captiva

CONDOS

1 new listing: Tennis Villas #3237 2/2 $440K.

No price changes or new sales.

1 closed sale: Bayside Villas #5228 1/2 $320K.

HOMES

3 new listings: 11461 Old Lodge Ln 2/2 $1.025M, 15147 Captiva Dr 6/5.5 $5.695M, 1121 Schefflera Ct 4/4.5 $5.999M.

No price changes.

2 new sales: 11514 Andy Rosse Ln 5/5 listed at $2.375M, 15843 Captiva Dr 3/3 listed at $5.5M.

1 closed sale: 11537 Laika Ln 4/3 $1.475M.

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 general real estate activity in the community and does not imply that SanibelSusan Realty Associates is participating or participated in these transactions.)

Until next Friday, wishing you sunshine too!

Susan Andrews, aka SanibelSusan

closeup-view-to-straightlefteast

Pointe Santo View – taken from #C34