TGIF – The Last One in February 2016

It’s SanibelSusan reporting a few more days of island winter weather. A cold-front arrived here with a little rain on Wed evening. Since then, we’ve had bright blue skies, but temperatures only into the high 60’s yesterday, today, and tomorrow. That is great weather for showing property.

Beach

Beach in front of Olde Middle Gulf Dr

 

The week’s real estate activity as posted in the Sanibel & Captiva Islands Multiple Listing Service follows a few news items below.

Island Weather

No rain is the forecast for the next five days and, according to AccuWeather, with the weekend setting up as an excellent one. Today’s high will be around 68 degrees, with 65 on Saturday and 73 on Sunday.

Beaches

Low tide set up perfectly for shell seeks this morning when it came in at 8: 34 a.m. Tomorrow (Sat), it will be at about 9 a.m., with high tide about 2:30 p.m.

Tonight, evening sunset on Captiva comes at 6:28 p.m., only about a minute later tomorrow night.

Sanibel sunset 2011

Upcoming Island Events

2016 shell fairMar 3 to 5 – 79th Annual Sanibel Shell Festival – at The Community House from 9 a.m. to 5 p.m. Thurs and Fri, from 9 a.m. to 4 p.m. on Sat.

Mar 16 – Sanibel Historical Village’s Let’s Get Historical USO Canteen Dinner & Dance – at 6 p.m. on the grounds of the historical village.

Apr 9 – Sanibel-Captiva Conservation Foundation’s 5th Annual Beer in the Bushes – from 6 to 10 p.m. on the grounds of SCCF’s Nature Center.

Sales Make Gains, Prices ‘Rising Too Fast’

realtor logoFrom yesterday’s “Realtor®Mag” on line:

“Existing-home sales kicked off 2016 on solid footing, according to the National Association of REALTORS®’ latest housing report, released Tuesday. Existing-home sales in January moved to their highest annual rate in six months, while constrained inventory levels also pushed home prices to their fastest increase since last April, according to the report.

“All regions in the U.S. saw increases in January sales, except for the West region.

“Total existing-home sales, which encompass completed transactions for single-family homes, condos, town homes, and co-ops, inched up slightly by 0.4% in January to a seasonally adjusted annual rate of 5.47 million.

“Sales are 11% higher than a year ago, which is the largest year-over-year increase since July 2013.

““The housing market has shown promising resilience in recent months, but home prices are still rising too fast because of ongoing supply constraints,” says Lawrence Yun, NAR’s chief economist. “Despite the global economic slowdown, the housing sector continues to recover and will likely help the U.S. economy avoid a recession.”….

Regional Breakdown

“Here’s a closer look at how existing-home sales performed across the country in January.

“Northeast: Existing-home sales rose 2.7% to an annual rate of 760,000, and are 20.6% higher than a year ago.  Median price: $247,500 — 0.9% above January 2015.

Midwest: Existing-home sales increased 4% to an annual rate of 1.30 million in January, and are 18.2% above a year ago. Median price: $164,300, up 8.7% from a year ago.

“South: Existing-home sales were at an annual rate of 2.24 million in January — unchanged from December — and are 5.7% higher than a year ago. Median price: $184,800, up 8.5% from a year ago.

West: Existing-home sales dropped 4.1% to an annual rate of 1.17 million in January, but remain 8.3% higher than a year ago. Median price: $309,400, 7.4% above January 2015.”

Source: National Association of REALTORS®

Southwest Florida Housing Market Has Slowed – and That’s Good

naples daily news logoNarrowing the field down to just Southwest Florida, here’s an article posted on line at FloridaRealtors®. It came from ”The Naples Daily News”:

“The housing market is showing signs of slowing and local experts say that’s OK. Home resales are slowing – and so are land sales for new homes and developments.

“We’re in the middle of a downshift in the marketplace. And it’s a good thing,” said Denny Grimes, president of Denny Grimes & Co. in Fort Myers. Grimes was one of three expert speakers at Market Watch 2016, sponsored by the News-Press and held at the Harborside Event Center in downtown Fort Myers on Tuesday night. All agreed the housing market is changing in a big way, sharing their thoughts on the future of real estate with a sold-out crowd in the hundreds.

“Generally speaking, home resales started falling from Sarasota to Naples in the last two to three months of 2015, Grimes said. “It’s kind of across the board,” he said. “We saw sales down in Lee County 30% in January.”

So what gives? While the roads are full, as they usually are in season, and buyers are out looking for houses, he said, the consumer confidence tank is “low on fuel.”

“Part of the low confidence, he said, is “our fault,” with home prices rising too quickly. “We have seen tremendous price increases in the last two or three years and we are pricing ourselves out of a lot of the market. You can ask for more, but buyers won’t pay it,” Grimes said.

“There are a few exceptions. The luxury market in Naples is still going strong, with the volume of resales rising 18% in the more than $5 million price category and 11% in the $1 million to $5 million segment in 2015, over 2014.

“”I think the luxury market and ultra-luxury market is being driven by people saying, ‘If not now, when?'” he said.

It’s clear the “Louis Vuitton” market of Port Royal in Naples, he said, is different, with 37 existing homes selling there last year, generating more than $300 million in sales, for an average price of about $8 million. Homes don’t really go “on sale” there, he said. “You want to be in Port Royal? You pay the price and you come,” Grimes said. “That is an anomaly. I can’t find that type of behavior anywhere else. It may be the only place on the Gulf Coast of Florida like that, which speaks highly for that area.”

“Except for the ultra-luxury market, he predicts home price growth will slow down this year, and could even retreat a little bit. “We have to slow down. We are going too fast for our own good,” Grimes said.

“Randy Thibaut, president of Land Solutions Inc. in Fort Myers, agrees a slowdown is needed, coming from a different angle. Last year, new home permits soared in Lee, Collier and Charlotte counties. Builders pulled about 13,000 permits in the three counties, for a 44% increase over 2014. Lee saw the biggest increase and that was driven mostly by a boom in apartment construction.

“Apartments are in higher demand because of the rising home prices. First-time buyers are still looking for homes priced at $200,000 to $250,000, which can be found in very few places in Southwest Florida, Thibaut said.

“In Collier County, the median home price – the price at which half the homes sell for more, and half for less – rose to $430,000 in December. For that reason, it makes sense that Maple Ridge at Ave Maria, where there are still homes available for less than $300,000, was the top selling subdivision last year in all three counties, he said. “The reason why is price and value,” Thibaut said. “So it’s one of the last places people can get a value.”

Some of the buyers in Maple Ridge are coming from the east coast of Florida, and commuting back and forth to their same jobs over there because they can get more home for their money in Ave Maria and they often have a shorter drive than they would on Interstate 95. Thibaut described the trend as mind boggling. “Wow,” he said. “That is crazy.”

“Land prices for residential development now exceed where they were in 2005 at the “peak of the peak,” which is giving builders reason to pause, Thibaut said. “We are seeing builders, developers and equity firms starting to tap the brakes on land transactions because the prices in some cases, in a lot of cases, have gotten to the point where they can’t meet buyers’ price demand requirements and are pushing the limit to still make margins,” he said.

“The pause is good for many reasons, Thibaut said. “We have a great shortage of labor and we are having a tough time meeting the demand for the sales and products that are being built and permitted,” he said.

Some builders have already noticed a slowing demand for new homes, with several starting to offer incentives to entice buyers to purchase the inventory. One of the areas where that is happening is in the Immokalee Road corridor in North Naples, which has seen a surge in new construction over the past few years.

“High-rise condominium construction is back, with five projects planned or under construction from Naples to Estero, and it will be something to watch this year, along with continued apartment construction, which one speaker described as “white hot,” especially in Lee County. “Apartments are really pulling the market,” said Stan Stouder, a commercial real estate broker with CRE Consultants in Fort Myers.

“He showed a picture of a tugboat pulling a big cargo ship to bring home his point. In Southwest Florida, he said, 2,557 apartment units will be built this year, twice the number as last year, Stouder said. Apartments aren’t just attracting students, but millennials with too much student debt and not enough money for a down payment, would-be buyers with bad credit, and even boomers who can no longer afford the hefty home prices.

“”Boomers are coming in great waves,” Stouder said. “But they are less affluent. So their pension plans might have been wiped out, their 401ks might have gone down. Their houses may be selling now, but selling for less than they hoped they could get. They still want to come to Florida. Maybe they can’t afford a second home, but they can afford to rent an apartment.””

Sanibel & Captiva Multiple Listing Service Activity February 19-26, 2016

Sanibel

CONDOS

3 new listings: Beach Road Villa #105 2/2 $434K, Mariner Pointe #522 2/2 $519K, Kings Crown #208 2/2 $825K.

6 price changes: Sanibel Arms West #J4 2/2 now $429K, Sanctuary Golf Villages I #1-1 2/2.5 now $645K, Sanibel Inn #3522 2/2 now $699K, Lighthouse Point #325 2/2 now $830K, Compass Point #151 3/2 now $1.195M, Golden Beach #2 3/2.5 now $1.499M.

4 new sales: Mariner Pointe #1073 2/2 listed at $454.5K, Shell Island Beach Club #5A 2/2 listed at $864.9K, Tanglewood #3 3/3 listed at $1.595M, High Tide #A301 2/2 listed at $1.895M.

2 closed sales: Sundial West #H103 2/2 $415K, Tigua Cay #489 3/3.5 $2M.

HOMES

10 new listings: 1635 Sand Castle Rd 3/2.5 half-duplex $489K; 3301 Twin Lakes Ln 2/2 $599K; 4648 Buck Key Rd 3/2 $679K; 1133 Sand Castle Rd 3/2 $699K; 5299 Ladyfinger Lake Rd 3/3 $799K; 1724 Bunting Ln 3/4 $1.089M; 746 Windlass Way 4/3 $1.149M; 6011 Clam Bayou Ln 3/3 $1.395M; 4353 Gulf Pines Dr 3/2.5 $1,478,999; 584 Kinzie Island Ct 3/3.5 $1.995M.

8 price changes: 2407 Shop Rd 3/1 now $354K, 575 Piedmont Rd 3/2 now $490K, 5267 Ladyfinger Lake Rd 3/2 now $794K, 3335 Twin Lakes Ln 3/2 now $799K, 1321 Par View Dr 3/2.5 now $899K, 1121 Skiff Pl 3/3 now $1.095M, 1238 Isabel Dr 5/3/2 now $3.965M, 1306 Seaspray Ln 3/4 now $3.995M.

9 new sales: 1490 Sand Castle Rd 2/2 listed at $515K, 441 Lake Murex Cir 3/3 listed at $599K, 1113 Sand Castle Rd 3/2 listed at $639.9K, 1460 Court Pl 6/5.5 listed at $649K, 1970 Wild Lime Dr 4/3 listed at $699K, 577 Lake Murex Cir 3/2 listed at $769K, 595 Birdsong Pl 4/2 listed at $849K, 1328 Seaspray Ln 4/4 listed at $849K, 696 Kinzie Island Ct 4/5 listed at $2.395M.

1 closed sale: 693 Emeril Ct 3/3 $660K.

LOTS

2 new listings: 2310 Wulfert Rd $339K; 5830 Sanibel-Captiva Rd $399,555.

No price changes, new, or closed sales.

Captiva

CONDOS

1 new listing: Sunset Beach Villas #2318 2/2 $595K.

1 price change: Bayside Villas #4302 3/3 now $605K.

2 new sales: Beach Homes #29 4/4 listed at $2.5M, Beach Homes #27 5/3 listed at $2.599M.

No closed sales.

HOMES

No new listings.

2 price changes: 15133 Captiva Dr 3/3 now $3.495M, 13550 Palmflower Ln 4/3.5 now $4.495M.

4 new sales: 11515 Murmound Ln 3/3 listed at $1.494M, 11525 Chapin Ln 4/4 listed at $1.495M, 11535 Andy Rosse Ln 4/4 listed at $2.339M, 16251 Captiva Dr 7/4.5 listed at $2.495M.

No closed sales.

LOTS

Nothing to report.

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

Enjoy your weekend, folks, wherever you are!

The last February 2016 island weekend is going to be terrific!

Susan Andrews, aka SanibelSusan

Canalside docks from website

Canal side at Sanibel Moorings

Just Another Happy Friday on Sanibel Island

It’s another happy day on Sanibel Island! The weather is a glorious breezy sunny 82 degrees this afternoon with the forecast the same for the next week.

Beach in front of Sanibel Arms West

Beach in front of Sanibel Arms West

Below are a few news items followed by the action posted in the Sanibel/Captiva Multiple Listing Service over the last seven days.

SanibelSusan Realty Office Happenings & Sanibel/Captiva Real Estate News

croppedTVcabinetIn getting ready for season, we had the office carpet cleaned this week which led to us cleaning out a few file cabinets.

croppedsofaOur old palm pilots, digital cameras, and laser-jet printers which have been replaced with newer technology are now at Goodwill. Who knew they would take that stuff? They even will help with pick-up.

Phone inquiries this week again were mostly about selling, though we had a few good showings too.

View at Island Beach Club #260D

View at Island Beach Club #260D

Teammate Dave held an open house with a big turn-out Wednesday afternoon at our new Island Beach Club listing.

He and Assistant Elise held it open again Thursday morning for Realtors® during our Association’s last bi-weekly caravan.

Weekly Thursday-morning caravans begin again in November – alternating between east-end and west-end properties – and continue weekly until May – or when business slows down.

Beach in front of Island Beach Club

Interestingly during the announcement segment of yesterday’s meeting, only a handful of sales were mentioned though there was plenty of chatter about properties getting offers that didn’t make it to contract. This time of the year, it’s not unusual for Sellers in receipt of a less-than-perfect offer to say “We’re just going into season, so I’m waiting for a better offer”. History shows that rarely happens, but I do agree that this is the time of the year to be ambitious!

The best window of opportunity for island sales is between now and Easter. There usually is a little slowdown around the holidays, then the most activity in February and March when the island is busiest.

Upcoming Island Events

  • Discover DingThrough Oct 24 – 26th Annual “Ding” Darling Days – has continued all week and ends with Conservation Art Day tomorrow. Event schedule at www.dingdarlingdays.com.
  • baileyfest 2012Sunday, Oct 25 – 30th Annual BaileyFest Celebration – From noon until 4 p.m. at the Bailey’s Shopping Center. I’ll be there at noon singing with the BIG ARTS Community Chorus as we kick-off the afternoon of fun.
  • bailey-mathews shell museum signShell Museum Will Soon Celebrate its 20th Anniversary!   As part of the celebrations, the Bailey Matthews National Shell Museum will host events on two days in November: On Saturday, Nov 14, will be a Free Day, with assorted activities offered to visitors. On the actual anniversary date, Thursday, Nov 18, there will be an open house to members, friends, and neighbors.

White Pelicans – Snowbirds Are Back

white-pelicans from trip advisorDing Darling Wildlife Society posted in their weekly on-line newsletter that the White Pelicans have officially arrived again. A flock was spotted in the Refuge on Monday, Oct 19. They say that other winter birds beginning to arrive include Woodstorks and Pied-Billed Grebes.

Did you know that a pelican’s lower mandible (bottom jaw) serves as a framework for its big stretchy pouch which can expand and hold up to three gallons of water, which could weigh up to 24 pounds?

Humorist Dixon Lanier Merritt wrote a famous pelican-themed limerick in 2010: “Oh, a wondrous bird is the pelican! His bill holds more than his belican. He can take in his beak enough food for week, but I’m darned if I know how the helican.”

Along with the feathered visitors, more winter-resident snowbirds arrived this week as traffic increased. Late afternoons on Periwinkle, it’s close to “season” traffic already.

Plenty of winter singers came back early too – as the first rehearsal of the BIG ARTS Community Chorus this week had close to 60 in attendance. That’s a record!

What Luxury Buyers Desire in a Home

NAR gray-logoFrom NAR’s (National Association of Realtors®) on-line “DAILY REAL ESTATE NEWS” on Oct 21:

“High net worth individuals aren’t being deterred by rising prices. 54% of them say they plan to make an investment in real estate this year, up from 48% in 2014, according to a survey of the wealthiest 1.5% of the U.S. population by Coldwell Banker Previews International and Ipsos Connect.

“High net worth individuals surveyed give the following reasons for buying real estate:

  • 40% cited investment attractiveness
  • 39% desired to live in a specific location
  • 38% sought a safer investment than the stock market
  • 31% wanted to take advantage of low interest rates.

“Among the group members, residential real estate comprises an average 38% of their net worth. What’s more, 43% purchased real estate in the past five years, and 57% paid cash for their home purchases, according to the survey.

“What are the most desired home features among the wealthy? The survey found that its respondents listed as the top desires in a property:

  • Move-in” condition: 43%
  • Fully automated and wired home environment: 41%
  • LEED-certified green home: 36%
  • Open floor plans: 36%
  • Home gyms: 34%
  • Home theaters: 32%
  • Safe rooms: 30%

“Among high net worth individuals, Generation X members tended to pay the most for their properties. On average, they spent $5.24 million on their home purchase compared to $4.96 million by millennials and $1.55 million among baby boomers.”

Florida’s Single-Family Home Sales Up 13.4% in Sept

Florida the sunshine statePosted yesterday, Oct 22, on Florida Realtors® on-line:

“Florida’s housing sector continued its momentum with more sales, rising median prices and a tight inventory of homes for sale in September, according to the latest housing data released by Florida Realtors®. Closed sales of existing single-family homes statewide totaled 23,574 last month, up 13.4% over September 2014.

“”Florida’s housing sector continues to show strength with more closed sales and an uptick in new listings,” says 2015 Florida Realtors President Andrew Barbar, a broker with Keller Williams Realty Services in Boca Raton. “September marked the 46th month that statewide median sales prices increased year-over-year for both single-family homes and townhouse-condo properties. Sellers received a higher percentage of their original list price, with single-family homes getting on average 94.3% and townhome-condos getting 93.2% on average…Sellers should take advantage of the strong market conditions with rising median prices, while would-be buyers can benefit from interest rates that currently remain at historically low levels and greater access to mortgage financing.””

Top 10 Stupid Staging Ideas

NAR gray-logoYes, the heading of this article posted on-line Oct 5 by NAR (National Association of Realtors®) blog contributor Justin Riordan of Spade and Archer Design Agency sounds negative; but the article has some good advice.

Spade Archer design agency“Not all home staging is created equally. Staging Darwinism is real and only the smart survive. Below we countdown the top 10 “stoopidest” home staging ideas.

“#10. Bake cookies right before your open house. Our sense of smell is very closely related to our sense of memory. True enough, for some people, the smell of freshly baked cookies may bring back fantastic memories of days past when their loving mother baked cookies every Saturday afternoon. However, I use to work at Mrs. Fields, and my boss was a real jerk. Whenever I smell freshly baked cookies … I get slightly nauseous and a bit angry. Your house should smell like nothing when it is being shown. Scented homes lead to one of two reactions:

  • Buyers who are chemically sensitive get headaches, irritated eyes, or nausea and want to leave immediately.
  • Buyers wonder what you are trying to cover up and immediately become suspicious that you are a shyster.

“#9. My house won’t sell unless it has plants in it. Live plants or flowers in a vacant house tend to become dead plants very fast. Unless you are dedicated to checking on these plants regularly, you need to skip them, because nothing stops a house from going pending like dead plants. Fake plants are just that, fake. When it comes down to it, staging is creepy. You are in a house that appears to be occupied and yet, it is not. Every time you add something fake, it is one more reminder that this is not real and thus adds to the creepy factor.

“#8. If they can’t see past that “   “ then they don’t deserve to buy my house. The truth is, if they can see past “___” then you did a poor job preparing your house for the market. If you find yourself saying this, think again.

“#7. I can just lightly stage this room and it will work. Light staging or, as I call it, “the placing of random objects in a room,” like a chair and a rug in a bedroom, does not help sell houses. It will actually slow the process down. Staging is only meant to do three things:

  • Show the room’s purpose
  • Show the room’s scale
  • Add light to the room

“Random objects in a room serve only to draw attention away from the house. Light staging is like hiring a clown to dance in front of a rack of dresses to help sell the dresses. Your buyers end up paying more attention to the clown than they do the dresses. Either stage the room completely, or don’t stage it at all.

“#6. I am paying for the staging, you should only stage with things I like. You are correct in that you are paying for the staging, but you are incorrect in that you think you are the customer. Really when it comes down to it you are now a retailer, trying to sell a product. You have hired a stager just as a department store would hire a visual merchandiser to display their items to sell to a customer. Your stager is concerned about what the potential buyer will like. You should be too.

“#5. The style of the staging should match the style of the house. Nobody has an entire household full of mid-century modern furniture. When staging a home we want the house to look obtainable. We want our clients to say, “Hey, I could do that!” By staging with an eclectic mix of furniture that does not necessarily “go” with the house, we prove to people that their mis-matched, rag-tag lot of furniture could look good in the house as well.

“#4. We should make everybody take off their shoes before they enter. Why in the world would you ask people to be uncomfortable in their new home, the first time they see it in order to protect floors that will no longer belong to you in a matter of weeks? Regardless of how or if you ask, thoughtful people with dirty shoes will remove them before coming through; thoughtless people will leave them on.

“#3. We should pull out the staging as soon as the house goes pending. Uh-oh! You pulled out your staging before the inspection period ended in order to save a few bucks on rental furniture. Now your sale has failed because the buyer didn’t like the condition of the water heater. I see that frowny face. Next time leave it in through the inspection period, better yet, through the financing contingency.

#2. Staging can fix anything. I so wish this was true, but often, it is not. Sometimes things are so bad, they need to be fixed prior to, or in lieu of, staging. If your entire house is painted in rainbow tie-dye, no amount of staging can help you.

“And the #1 “stoopidest” idea … “Staging is easy.” It is amazing how many sellers I meet on a daily basis. Nearly every single day somebody calls me to explain to me why they don’t need staging services. They say they know exactly what their house needs in order to sell, and how they have a lot of experience doing what I do and they could just do it themselves. I always wonder to myself, “Then why are you calling me?” The truth of the matter is, home staging is not as easy as it looks. I often compare it to women’s gymnastics. You know you are doing it right when it looks effortless. If you get a chance Google “Nadia Comaneci, perfect score” and watch the video. I don’t think she even broke a sweat. Good home staging looks like that. What it all comes down to is that “staging is easy” is the No. 1 biggest myth we would love to perpetuate. In the end, “stoopid” staging does nothing to help you and could actually hurt your sale. You need a competent staging professional if you want top dollar for your house.”

Beach in front of Sanibel Moorings

Beach in front of Sanibel Moorings

Sanibel & Captiva Multiple Listing Service Activity October 16-23

Sanibel

CONDOS

4 new listings: Blind Pass #E206 2/2.5 $412K, Loggerhead Cay #331 2/2 $515.9K, Island Beach Club #P2E 2/2 $1.079M, Nutmeg Village #113 2/2 $1.079M.

1 price change: Tigua Cay #489 3/3.5 now $2.235M.

5 new sales: Sandpebble #1F 2/2 listed at $384.9K, Sundial West #H103 2/2 listed at $460K, Sundial East #N301 2/2 listed at $739K, Tarpon Beach #204 2/2 listed at $745K, Junonia #201 3/2 listed at $1.195M.

2 closed sales: Signal Inn #14 2/2 $700K, Wedgewood #104 3/3.5 $2.3125M.

HOMES

5 new listings: 1121 Periwinkle Way 3/2 $519K, 215 Palm Lake Dr 3/2 $579K, 626 Kinzie Island Ct 3/2.5 $2.09M, 2518 Tropical Way Ct 3/3.5 $2.595M, 536 Lighthouse Way 4/4.5 $3.495M.

5 price changes: 9032 Mockingbird Dr 3/2 now $499.9K, 1076 Sand Castle Rd 2/2 now $589K, 1410 Causey Ct 3/2 now $699K, 1312 Sand Castle Rd 3/2 now $749K, 3911 West Gulf Dr 5/5.5 now $4.498M.

5 new sales: 9012 Mockingbird Dr 3/2 listed at $539K, 720 Elinor Way 3/2 listed at $649K, 426 Lake Murex Cir 3/2 listed at $669K, 689 East Rocks Dr 3/3 listed at $768.5K, 1188 Harbor Cottage Ct 3/3 half-duplex listed at $899,555.

3 closed sales: 999 Sand Castle Rd 3/3 $499K, 1183 Kittiwake Cir 3/2 $737.5K, 1198 Harbor Cottage Ct 3/3 half-duplex $850K, 3790 West Gulf Dr 3/2.5 $1M.

LOTS

No new listings.

1 price change: 5706 SanCap Rd now $449K.

2 new sales: Pine Ave, Lot 24 listed at $248.5K, 1243 Par View Dr listed at $349K.

No closed sales.

Captiva

CONDOS

1 new listing: Bayside Villas #5216 1/2 $325K.

1 price change: Bayside Villas #4206 1/2 now $294K.

No new or closed sales.

HOMES

No new listings.

3 price changes: 11461 Dickey Ln 3/2 now $1.395M, 11530 Paige Ct 4/5.5 now $3.78M, 16151 Captiva Dr 4/3 now $9.68M.

1 new sale: 953 S Seas Plantation Rd 5/5.5 listed at $6.299M.

No closed sales.

LOTS

No new listings or price changes.

1 new sale: 11545 Wightman Ln listed at $1.245M.

No closed sales.

(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, Susan Andrews aka SanibelSusan

Beach in front of Compass Point

Beach in front of Compass Point

Labor Day Weekend 2015 on Sanibel & Captiva Islands

Photo courtesy of Jim Anderson, JMA Photography

Photo courtesy of Jim Anderson, JMA Photography

 

It is Susan Andrews (aka SanibelSusan) reporting that it has been another quiet week on the Islands. We breathed a sigh of relief when Tropical Storm Erika dissipated last weekend and didn’t bring much rain to Sanibel and Captiva.

Weather for the long holiday weekend beginning today is expected to be typical of late summer with temperatures in the high 80’s/low 90’s and 20 to 40% chance of rain. The gorgeous summer sunsets continue, but island occupancy is down as it usually is in September.

Below are a few news items, followed by the action posted in the Sanibel & Captiva Islands Association of Realtors® MLS over the last seven days.

SanibelSusan Realty Associates

Sanibelsusan LogoThis week, several of our listings had showings, I met with owners about future listings, and we worked on several fall marketing projects.

Yesterday, we had an Association of Realtors® Caravan Meeting. Attendance was light and only three properties were on caravan (one our new listing at Compass Point). No new listings were announced and no price reductions.

Much of the meeting chatter was about inventory. It has been another good year for island real estate sales, making some wonder if we will have enough real estate to sell this winter. Here is an update of that inventory:

SANIBEL

  • Condos – just 76 for sale with 121 sold/closed this year & another 14 under contract. Average sale price up 5% over last year when 165 condos sold.
  • Homes – just 89 for sale with 188 sold/closed this year & another 26 under contract. Average sale price up 6% over last year when 206 homes sold.
  • Lots – 65 for sale with 34 sold/closed this year & another 4 under contract. Average sale price down 5% over last year when 27 lots sold.

CAPTIVA

  • Condos – just 38 for sale with 28 sold/closed this year & another one under contract. Average sale price up 45% (because most of the sales this year were high-end condos at Lands End Village). Last year 22 condos sold.
  • Homes – just 39 for sale with 19 sold/closed this year & another one under contract. Average sale price up 14% over last year when 23 homes sold.
  • Lots – just 3 for sale with 2 sold/closed this year & another 2 under contract. None sold last year.

(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.)

sancap GO MLS logoOne more Association of Realtors® meeting is scheduled in September, then two in October before we go back to the “season” schedule of every Thursday morning, with Caravans alternating between east-end and west-end properties. Listed properties are allowed on Caravan only once in a 6-month period.

Over 10-Year View, Home Sales Are Strong

realtor logoIt is not just here where inventory is down. The below article was posted Tuesday on-line at “Daily Real Estate News”:

“The National Association of REALTORS® finds that July 2015 existing-home sales are markedly higher than the 10-year July average. The 10-year average is an average of the data from the past 10 July months.

“Regionally, the Northeast was the only area of the country slightly below its 10-year average, while all other regions showed stronger sales. The Midwest and South were up above average by more than 15% and the West has risen 9%, according to NAR.

“The median home price is also higher than the 10-year average. In its 10-year review, NAR says home prices nationally began to drop in 2006 in some regions and 2007 nationally but did not see the biggest drop until around 2009.

“”The trend for median home prices turned around completely in 2012, all regions and the U.S. saw their lowest July median price in 2011,” NAR notes on its blog Economists’ Outlook. Since then, home prices have been on the rise.

“A shortage of homes for-sale continues to persist in the current market. There are fewer homes available for sale this July than the 10-year July average.

“”In 2005, the U.S. had the fastest pace of homes sold relative to the inventory taking 4.6 months,” NAR notes. “In 2010, the U.S. had the slowest pace taking 11.9 months to sell the supply of homes on the market.” The 10-year July average in supply is 7.7 compared to this July, which is at a 4.8-month supply.”

Another Annual Renovation Project – “Ding” Darling Visitor & Education Center

Ding Darling signRenovations begin on September 8 to the entrance and front-desk area of the “Ding” Darling Visitor & Education Center. During the two weeks that it will take to complete the improvements, the Center will remain open with visitors redirected to another entrance.

NAR Survey: Realtors® Plan to Extend Closing Dates

Florida Realtors logoFollowing up on my blog posting last week about the upcoming federally-mandated changes regarding real estate closings for residential property with mortgages, the article below was posted on-line this week on FloridaRealtors®.

“A new National Association of Realtors® (NAR) survey finds that more than 50% of real estate agents plan to extend sales contracts and build in more time for closings due to the Oct. 3 implementation of new mortgage disclosures.

“Currently, the HUD-1 settlement form can be revised and delivered up to the day of settlement. By contrast, the new Truth in Lending Act/Real Estate Settlement Procedures Act Integrated Disclosure (TRID) that goes into effect Oct. 3 must be finalized and in the borrower’s hands three days prior to closing.

“Failure to meet that deadline can result in a re-issuance of the closing disclosure and another three-day waiting period.

“”When asked about their plans to deal with the new TRID rules, 55.9% of Realtors plan to change their purchase agreements to reflect a longer timeline, while 31.2% will add contingencies to the contract,” says NAR based on the research.

“Florida Realtors plans to update its contracts on Sept. 28, 2015, in preparation for the October change. The association currently has the updated contracts posted online in a redline version that graphically shows the changes.

“The poll did not specifically ask how long a Realtor would extend a sales contract, and there appears to be no consensus on the issue. “Based on a handful of anecdotes, some (Realtors) are adding 15 days to a 30-day contract and others are opting for the 60-day contract,” says Ken Fears, NAR’s director of regional economics and housing finance. The NAR study also found that 82% of agents have taken some type of training to prepare for the TRID regime that takes effect Oct. 3….”

Good News About Lake O – Local Estuary Sitting at Good Levels

Everglades-Map-historical-WEBBelow is some positive news about the rainy season this year, as posted in the “Santiva Chronicle” on Wednesday:

“A little more rain is needed, but Lake Okeechobee is at an acceptable level right now, which is good news for Sanibel Island and its estuary.

““For the majority of this year’s rainy season flows have been within the optimal range for the estuary,” James Evans, Sanibel Natural Resources director, said regarding the balance between fresh and salt water.

Sanibelcityseal logoThis balance has been maintained although rainfall on the east side of the state has been much lower than in Southwest Florida. The Southwest Florida Water Management District, which oversees the water resources in the southern half of Florida in 16 counties from Orlando to the Keys, reported Tuesday, Sept. 1, that the remnants of tropical systems Danny and Erika helped lift August rainfall to near average in much of the district.

““The Army Corps of Engineers tries to maintain Lake Okeechobee between 12.5 and 15.5 feet. Right now it’s at 13.08 feet. It has come up about a half-foot in the past week,” Evans said. “That’s a good thing,” he said. “The lake is 1.38 feet below where it was last year, but it is well within the management band that the Corps of Engineers would like to maintain.

““We would like to see the level of the lake come up a bit more before the end of the rainy season so that we have water for supplemental flows to the estuaries and to make sure that all the urban and agricultural needs can be met, but it is trending in the right direction.”

“Despite several days of rain at the end of the month, Martin, St. Lucie, Broward and Miami-Dade counties all got less than average rainfall in August.

sccf“Evans said the city and the Sanibel-Captiva Conservation Foundation are watching flows coming into the local estuary from the Caloosahatchee watershed and those flows “are a bit higher than we would like to see.” “More rain out over the lake between now and October without an excess amount falling within the local watershed would be ideal,” Evans, who recently coauthored a comprehensive report on the Caloosahatchee watershed for the city, said.”

Sanibel & Captiva Multiple Listing Service Activity August 28-September 4

Sanibel

CONDOS

1 new listing: Village of Sanibel #R1 3/2.5 $449K.

No price changes.

2 new sales: Sundial #H303 2/2 listed at $589K, Signal Inn #18 3/2 listed at $1.089M.

3 closed sales: Colonnades #11 1/1 $210K, Captains Walk #C7 1/1 $205K, Captains Walk #F3  2/1.5 $278K.

HOMES

4 new listings: 3965 Coquina Dr 2/2 $330K, 5267 Ladyfinger Lake Rd 3/2 $895K, 1555 San Carlos Bay Dr 3/2.5 $1.1M, 4428 Waters Edge Ln 3/2.5 $1.25M.

4 price changes: 9012 Mockingbird Dr 3/2 now $539K, 1024 S Yachtsman Dr 3/2 duplex now $559.5K, 887 Casa Ybel Rd 4/3 duplex now $689K, 1328 Seaspray Ln 4/4 now $875K.

4 new sales: 1644 Atlanta Plaza Dr 2/2 listed at $479K, 999 Sand Castle Rd 3/3 listed at $547K, 420 East Gulf Dr 3/3 listed at $679.9K, 1537 Sand Castle Rd 4/3 listed at $829K.

4 closed sales: 1744 Bunting Ln 4/2 $585K, 0 Sea Pines 3/2 $849K, 657 Birdie View Pt 3/3 $915K, 821 Sand Dollar Dr 4/4 $1.5M.

LOTS

No new listings.

1 price change: 9232 Dimmick Dr now $235K.

No new sales.

1 closed sale: 1815 Ardsley Way $185K.

Captiva

CONDOS

Nothing to report.

HOMES

1 new listing: 17050 Captiva Dr 3/3 $4.9M.

1 price change: 11523 Wightman Ln 4/4 now $1.9499M

No new or closed sales.

LOTS

Nothing to report.

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

LaborDaySignHappy Labor Day Weekend!

Susan Andrews (aka SanibelSusan)

Mid-May Royal Poinciana Beauty & Island Real Estate Happenings

Beach a

It is finally safe to say that the islands are back to off-season normal. The locals no longer need to share roadways/restaurants and the weather is beautiful with the first tell-tale indications of the rainy season evidenced this week by a few late day passing showers.

SANSLogoSanibelSusan showed a few homes on Monday and the team and I have otherwise been working on getting some listings sold and under-contract properties to the closing table. Also put a charming home under contract.

Three of our Sellers agreed to price reductions this week. We often see those this time of the year, when there is a post-season lull before summer vacationers start arriving.

Below are a couple of news items followed by the action posted in the Sanibel and Captiva Multiple Listing Service since last Friday.

Inventory Shortages Keeping Home Sales Low

realtor logoThe NAR (National Association of Realtors) annual legislative meetings are finishing up today at the nation’s capitol. Several representatives from our Sanibel/Captiva Islands Association are there, pressuring for reform in those issues affecting us most. Below is an article that was posted today on “Realtor®Mag” about NAR’s Chief Economist’s predictions while at these meetings.

“Home sales will pick up to a solid 5.3 million this year and are expected to hit 5.5 million next year, but until inventory constraints improve, the country’s large pent-up demand for home sales can’t be met, NAR Chief Economist Lawrence Yun said at the 2015 REALTORS® Legislative Meetings & Trade Expo in Washington, D.C.

“Overall, the economy is on a steady growth track, with solid job formation, continuing low interest rates, and the large millennial generation entering its peak household-formation years. But with buyers having to compete for a limited selection of properties in many markets across the country, home prices are rising fast, making it hard for many first-time buyers to get into the market.

“Yun’s concerned that, as a result of these conditions, many households risk missing out on the wealth-building effect of home ownership at a time of low interest rates and strong price appreciation. “Young people are in a position to leave their parents’ home because job growth is picking up, but the lack of inventory and rising prices is making that hard,” he said.

“For lawmakers, there are important policy implications, because home ownership is the path most people take to building wealth. As more households find their options limited to renting, inequality—already rising across the country—will worsen. “Without home ownership, many people will not be able to enter the middle class,” he said.

“Despite the need for more inventory, builders are concentrating on the multifamily rental market right now, because that’s where the demand is, said Robert Dietz, vice president for tax and market analysis for the National Association of Home Builders. Dietz, speaking at the same forum on residential issues and trends, said the renter population has been the big growth story in real estate since the economic recovery began several years ago.

“There’s plenty of interest among builders to fill the need for more single-family homes, too, but small builders, who historically have been responsible for building two-thirds of new homes each year, can’t get the acquisition and development financing they need to get back into the market. Lenders want them to have buyers already lined up before they give them financing, Dietz said, making it hard for builders to get inventory in the market for buyers to look at. Also keeping housing starts down are a lack of skilled labor and a shortage of developed lots, he said. Prices of building materials are on the rise, too.

“Yun is forecasting 1.1 million housing starts this year, rising to 1.4 million next year. Prices are on track to rise 6% this year and then ease to a sustainable 4% next year, as more homes come on the market. He predicts long-term mortgage rates will stay at a low 4% this year, rising to 5.2% next year. Yun said interest rates will continue to rise, but he doesn’t expect big jumps in the years ahead because inflation remains in check and energy prices aren’t expected to go up to any significant degree in the years ahead.”

Realtor.com® Rolls Out a New Look

realtor.comHere is more coverage from the 2015 REALTORS® Legislative Meetings & Trade Expo:

“Realtor.com® has unveiled a new look to its website and mobile platforms and launched a new advertising campaign that aims to position its brand as the best – “and truest” – provider of real estate information.

“The campaign marks the biggest marketing initiative in realtor.com®’s nearly 20-year history and comes at a time of increased competition in the real estate website arena, according to a news release.

“Its new graphic identity includes a two-tone logotype that highlights the “real” in realtor.com® in red letters and is intended to communicate that while competitors may feature conflicting or inaccurate information, “realtor.com® stands for what is real in real estate by delivering fresh and accurate listings,” according to the news release.

“”Serving buyers, sellers, and renters of properties with the best information and tools anytime, anywhere and communicating the value brokers and agents provide as trusted guides through the process is our utmost priority,” says Ryan O’Hara, chief executive officer of Move Inc., which operates realtor.com®. “This is what we mean by what’s real in real estate – and what sets us apart.”

“The campaign also highlights that message in new TV spots and web videos that feature actress Elizabeth Banks, who has been part of “The Hunger Games” franchise. The new ads will debut May 18 and run on major broadcast networks and cable channels.

“The new tagline in the campaign is “real estate in real time.” The new ads are also aimed at trying to appeal to a wide consumer base, from Millennials looking for affordable homes to young couples looking for more space and families seeking bigger, longer-term homes.”

REALTORS® Expand Influence Across The Globe

Miamo Assoc of RealtorMore info from the DC legislative meetings was posted yesterday in “DAILY REAL ESTATE NEWS”. Our Miami colleagues are very excited about the event they are hosting in November which this year will be in partnership with NAR’s annual conferences in San Diego.

“The National Association of REALTORS® is expanding its presence across the world in an effort to educate more practitioners living in other countries as real estate increasingly becomes a global business.

“More international real estate conferences and summits will be held in the U.S. and abroad this year to connect American REALTORS® with those overseas, NAR’s Global Business & Alliances Committee announced during the 2015 REALTORS® Legislative Meetings & Trade Expo in Washington, D.C. on Wednesday. Here are a few of the biggest ones:

“The first-ever International REALTOR® Conference will be held July 27 to 30 in Manila, Philippines, with the event’s main goal being to help REALTORS® in all corners of the globe conform to the Code of Ethics. “The REALTOR® brand is no longer an American brand,” said Shonee Henry, GBAC’s regional coordinator to Asia Pacific. “It’s now a global brand.”

“Tony Hanna, president of the Association of Professional Real Estate Agents of Mexico, announced a new initiative of the organization called AMPI USA. It’s aimed at teaching REALTORS® in the U.S. how to do business in Mexico. Courses on the topic will be offered at the AMPI International Real Estate Summit in Puerto Vallarta, Mexico, which will be held June 24 to 28.

“In November, the Miami Association of REALTORS® will be holding its 21st annual International Real Estate Congress, a popular networking event that brings foreign investors and developers together with real estate professionals in a world-class city. But for the first time in its history, part of it will be held in the host city of NAR’s REALTORS® Conference & Expo, which is San Diego this year, so those already planning to attend NAR’s event can experience IREC as well. MAR has partnered with the San Diego Association of REALTORS® to host the second leg of the event Nov. 10 and 11 just before the kickoff of NAR’s conference on Nov. 13. The first leg of IREC will be held in Miami Nov. 8 and 9.

“Several delegates from NAR’s partnering organizations in foreign countries also were on hand to explain how NAR has helped them expand the REALTOR® brand at home.

Greece: The Greek economy is only now entering recovery mode, said Nikos Manomenidis, president of the Central European Real Estate Associations Network. That’s ushering in expanded opportunities for practitioners there, which has prompted a move to strengthen real estate standards there. Greek real estate organizations are now in the process of establishing the country’s first MLS, and they are adopting NAR’s Code of Ethics.

Canada: An astounding 72% of REALTORS® in Canada don’t collect referral fees, said Pauline Aunger, president of the Canadian Real Estate Association. That’s a lot of money being left on the table, particularly for the 10% of Canadian REALTORS® who work with international buyers and sellers, she said. CREA is working with NAR to teach its members how to establish and use referral fees, and CREA has also partnered with NAR to create the country’s first course for the Certified International Property Specialist designation.

Romania: In the 10 years since he first attended an NAR convention, Dan Negulescu, president of the Romanian Association of Real Estate Agencies, has helped build the country’s “mini NAR.” The organization has launched Romania’s first MLS, established commission structures, and adopted the Code of Ethics.

Taiwan: Michael Tseng, vice president of the Taipei Association of Real Estate Brokers, was the first Certified Commercial Investment Member designee in his country. Since then, he has launched several CCIM  initiatives, eventually making courses for the designation part of standard curriculum at Taiwanese universities. Higher-ed institutions in the country now also provide coursework for students to get their real estate license.

Jamaica: Five years ago, Jamaican REALTORS® launched their first MLS, and that’s a big reason why the nation has become the most popular in the Caribbean for U.S. buyers looking to purchase a second home, said Howard Johnson, past president of the REALTORS® Association of Jamaica. The country now has 700 REALTORS®, which represents 60% of all real estate practitioners in Jamaica, and they are hosting several trade missions a year from American associations.”

Governor Scott Signs Florida Bill on Drone Use

Florida Realtors logoThis was posted today on FloridaRealtors®:

“While the Federal Aviation Administration (FAA) has not yet authorized drone use for most real estate functions in Florida, a bill (SB 766) passed by the Florida Legislature and signed by Gov. Rick Scott yesterday creates new rules for drone use once the FAA does so.

“In general, the Florida bill provides privacy protections for residents fearful that a drone will be allowed to fly across their private property and take pictures.

“However, the bill provides some protections for the state’s Realtors by including “limited exceptions.”

“According to a Senate committee’s bill analysis, “A person or entity engaged in a business or profession licensed by the state may use a drone to perform reasonable tasks within the scope of his or her license.” In addition to the exception for state licensees, the bill allows drone use by tax collectors for assessing property for ad valorem taxes and pictures taken by an electric, water or natural gas utility.

“Outside those exceptions however, the bill bans “a person, a state agency or a political subdivision from using a drone to capture an image of privately owned real property … with the intent to conduct surveillance without … written consent if a reasonable expectation of privacy exists.”

Captiva Yacht Club Junior Sailing Camp

Captiva yacht clubCaptiva Island Yacht Club uses the U.S. Sailing Association’s curriculum at their Junior Sailing Camp for kids ages 8 to 15 and at all experience levels. Membership in the yacht club is not a requirement. Two sessions are scheduled this summer (June 15 to 26 and July 13 to 24). Camp will be held at the yacht club, located next to ‘Tween Waters Inn. For additional info, email: accounting@CaptivaYC.net.

22nd Annual Sam Bailey’s Islands Night

Island night LogoIt is a month away, but islanders already are looking forward to this year’s “Islands Night” at the Lee County Sports Complex.

Beginning with a parade, “Islands Night” is a local tradition of hometown camaraderie begun by islander Sam Bailey over 20 years ago.

On Wednesday, June 17, at the Sports Complex, the gates open at 5:30 p.m., with parade at 6:15, followed by a baseball game – Fort Myers Miracle versus Daytona Tortugas at 7:05. Tickets are free. It is where islanders celebrate the end of another “busy” season.

Royal Poinciana in Full Bloom

On my travels this week, I stopped a couple of times to snap photos of the beautiful Royal Poinciana trees that are in gorgeous full bloom this year. Some Mays, with the onset of the rainy season, their color is short-lived – not so this year. Below are a couple of photos of the brilliant orange canopies.

Sanibel & Captiva Multiple Listing Service Activity May 8-15 

Sanibel

CONDOS

5 new listings: Tennisplace #E31 2/1.5 $369K, Sundial #F308 1/1 $385K, Sandpebble #1F 2/2 $399.9K, Lighthouse Point #131 2/2 $599K, Cottage Colony West #110 1/1 $639K.

3 price changes: Spanish Cay #F2 1/1 now $250K (our listing), Mariner Pointe #332 2/2 now $480K (our listing), Sanibel Arms #E8 2/2 now $497.4K.

1 new sale: Sundial #A301 2/2 listed for $869.9K.

4 closed sales: Sundial #F306 1/1 $345K, Sanibel Moorings #1622 2/2 $415K, Mariner Pointe #421 2/2.5 $515K, Dosinia #2B 3/2 $1.275M.

HOMES

2 new listings: 1658 Sabal Palms Dr 2/2 $850K, 1004 Fish Crow Rd 4/3 $925K.

6 price changes: 9477 Peaceful Dr 3/2 now $474.9K (our listing), 9106 Mockingbird Dr 2/2 now $499K, 1774 Bunting Ln 3/2 now $539K, 9012 Mockingbird Dr 3/2 now $549K, 1710 Sand Pebble Way 3/2 now $645K.

3 new sales: 9446 Beverly Ln 3/3.5 listed for $595K (short sale), Moonshadows #1A 3/3 listed for $899K, 375 East Gulf Dr 3/3 listed for $1.395M (our buyer).

5 closed sales: 475 Sea Walk Ct 3/2 $510K, 1445 Causey Ct 3/2 $790K, 6195 Henderson Rd 2/2 $1.15M, 5235 Indian Ct 4/3.5 $1.535M, 4627 Rue Belle Mer 3/2 $2.875M.

LOTS

Nothing to report.

Captiva

CONDOS

No new listings, price changes, or new sales.

1 closed sale: Bayside Villas #5144 1/2 $275K.

HOMES

1 new listing: 16500 Captiva Dr 5/5 $5.8M.

2 price changes: 1105 Tallow Tree Ct 3/3 half-duplex now $2.099M, 11530 Paige Ct 4/5.5 now $3.98M.

No new or closed sales.

LOTS

Nothing to report.

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

Happy weekend!

The Sky is Blue & Real Estate is Selling on Sanibel & Captiva Islands

It is another sunny Friday on Sanibel – what we call, “another picture-perfect day”. It reminds me of yesterday when I complimented an island pal on her Sanibel photos and she said “use them anytime”. So, before the rest of Friday’s blog, here are a few feathered friend pictures – thanks to Ellie Hayward. She took the alligator pix too!

 

Sanibel & Captiva Islands Association of Realtors®

SanCapAssnLogoMore winter sales were announced at our local Association of Realtors® Caravan Meeting yesterday and calls for showings are picking up too.

Below are a couple of news items followed by the Sanibel & Captiva Islands Multiple Listing Service action over the last seven days. “Season” is shaping up to be a good one. The statistics below indicate the few sales already in process. During the next three months, the number of sales should jump.

CONDOS                      HOMES                         LOTS

                      #  / Avg $ / Avg DOM    # / Avg $ / Avg DOM     # / Avg $ / Avg DOM

SANIBEL

Available        117 / 751,571 / 403       155 / 1,258,601 / 243    79 / 499,905 / 722

Pending         27 / 755,406 / 373          43 / 1,086,499 / 320     6 / 496,250 / 663

Sold/closed in:

2015 to 1/30  8 / 491,094 / 398           10 / 784,468 / 365         1 / 352,000 / 192

2014              164 / 650,418 / 286        206 / 838,672 / 265       27 / 424,198 / 495

CAPTIVA

Available       43 / 885,909 / 372          50 / 3,503,921 / 318      6 / 2,280,000 / 330

Pending        4 / 1,113,500 / 118         4 / 7,337,250 / 442        1 / 1,390,000 / 116

Sold/closed in:

2015 to 1/30  0 / N/A / N/A                  0 / N/A / N/A                  0 / N/A / N/A

2014              22 / 624,068 / 421         23 / $2,826,717 / 364     0 / N/A / N/A

Island Happenings

SANSLogoSanibelSusan.com continues to bring us listing inquiries and this week one came from a follower of the “Upcoming Events” also posted on our web site. Tracking island happenings keeps us current. Here are a couple of new items recently noticed.

  • SCCF logoWater Quality Exhibit at SCCF Nature Center – Water quality is a subject key to our real estate business and an item often discussed at our state Association of Realtors® Land Use Committee meetings. A new 5-panel exhibit at SSCF’s Nature Center is the first on the island about water quality. Educational and fun for all ages, the centerpiece of this SCCF exhibit includes a touchscreen with an in-depth RECON overview. RECON is the River Estuary Coastal Observing Network which was launched in 2007. RECON sensors along the Caloosahatchee River, Pine Island Sound, Tarpon Bay, and San Carlos Bay gather data which aids in research and management of the water in these areas. The Nature Center at SCCF is open weekdays from 8:30 a.m. to 4 p.m.
  • Sanibelcityseal logoMayor’s Report to CASI – Last Friday, Sanibel Mayor Ruane updated CASI (Condominium Associations of Sanibel, Inc.) on the progress City Council has made this year in its goals of improving water quality, stabilizing city finances, and encouraging sensitive redevelopment. A few statistics he mentioned include that 27% of Lee County’s tax revenues come from Sanibel. Of each Sanibel property owner’s tax bill, 15 cents is retained by Sanibel, while 85 cents goes to the county. With some carefully selected projects like the Sanibel Civic Core which is being planned for the city hall/library area and expected to include BIG ARTS, the Senior Center, and the Sanibel Community Association, City-owned property may be eligible for bringing some of those tax dollars back to the island.
  • CROW logoCROW’s New Speaker Series – Beginning in February and running through March, CROW is offering more interactive and educational programs. As they are announced, dates will be posted on SanibelSusan.com “Upcoming Events”. More info at www.crowclinic.org.

Existing-Home Sales Rebound: 5 Stats to Know

for sale signBelow is a summary article from “Daily Real Estate News” last Friday. It’s a good synopsis of the real estate market nation-wide.

“Home sales picked up at the end of 2014, closing off a year that had a sluggish start but then showed encouraging signs in the second half, according to the National Association of REALTORS®’ latest housing report, released Friday.

“Existing-home sales rose 2.4% in December month-over-month, bouncing back after a dismal November. Total home sales –reflecting completed transactions of single-family homes, townhomes, condos, and co-ops – reached a seasonally adjusted annual rate of 5.04 million in December. “Home sales improved over the summer once inventory increased, prices moderated, and economic growth accelerated,” says Lawrence Yun, NAR’s chief economist. “Sales were measurably better in the second half – up 8% compared to the first six months of the year.”

“Overall for 2014, the median national existing-home price was $208,500, reaching the highest level since 2007, and a 5.8% increase from 2013 when it was $197,100. However, total existing-home sales were 3.1% lower in 2014 compared to 2013, NAR reports. Here’s a closer look at five housing stats from NAR’s latest report — reflecting December 2014 data — to gauge the market:

“1. Home sales: Single-family home sales rose 3.5% in December to a seasonally adjusted annual rate of 4.47 million compared to 4.32 million in November. Single-family home sales are 4% above the pace a year ago. Existing condo and co-op sales, on the other hand, dropped 5% in December.

“2. Home prices: The median existing-home price for all housing types in December was $209,500 – 6% higher than year ago levels. This marks the 34th consecutive month of year-over-year price gains.

3. Days on the market: Properties typically stayed on the market in December for 66 days, a slightly shorter time frame than a year ago when the average was 72 days. Short sales were on the market the longest amount of time at a median of 98 days in December, while foreclosures sold in 61 days. Non-distressed homes averaged 66 days on the market. About 31% of homes that were sold in December were on the market for less than a month, according to NAR.

“4. Distressed sales: Foreclosures and short sales edged up slightly in December, reaching 11% of sales compared to 9% in November. However, distressed sales are down from 14% a year ago. Of December existing-home sales, 8% were foreclosures and 3% were short sales. On average, foreclosures sold for a discount of 15% below market value while short sales were discounted 12%.

“5. Inventory: Total housing inventory at the end of December fell 11.1% to 1.85 million existing homes available for sale. That represents a 4.4-month supply at the current sales pace, which is down from 5.1 months in November. Unsold inventory is now 0.5% lower than a year ago.

““A drop in housing supply in December raises some affordability concerns in the months ahead as minimal selection and the potential for faster price appreciation could offset the demand from buyers encouraged by a stronger economy and sub-4 percent interest rates,” says Yun. “Housing costs – both rents and home prices – continue to outpace wages and are burdensome for potential buyers trying to save for a down-payment while looking for available homes in their price range.”

“By Region: The following is a look at how existing-home sales performed across the country in December:

  • Northeast: existing-home sales fell 2.9% to an annual rate of 660,000. Sales are 3.1% above year ago levels. Median price: $246,600, up 3.2% above a year ago.
  • Midwest: existing-home sales dropped 3.5% to an annual level of 1.09 million in December. Sales are 2.7% below December 2013. Median price: $159,100, up 5.3% from a year ago.
  • South: existing-home sales in the South climbed 3.8% to an annual rate of 2.17 million in December. Sales are 7.4% above December 2013. Median price: $184,100, up 6.6% from a year ago.
  • West: existing-home sales surged 9.8% to an annual rate of 1.12 million in December. Sales are 2.8% above a year ago. Median price: $299,600, up 5.6% year-over-year.”

Housing Demand Rises, Supply Is Bigger Issue

realtor logoAs the market rebounds another concern was highlighted by Realtor.com in another recent article. We are already seeing signs of not enough inventory on Sanibel and Captiva too. We all know that shrinking inventory often results in rising prices.

“Several signs in the housing market point to higher demand for real estate, but the big question remains whether the supply will be able to meet the rise in demand, writes Jonathan Smoke, chief economist at realtor.com®, in new commentary at realtor.com®. “Supply is quickly becoming the biggest concern for healthy growth in home sales in 2015,” Smoke notes.

“Smoke points to the following three positive signs showing higher demand in the housing market:

Builders are more confident: Builders are remaining upbeat about the new-home market. The National Association of Home Builder’s Housing Market Index recently showed builder sentiment on the rise, with builders optimistic about the six-month outlook in the new-home market. New construction is starting to follow suit. Housing starts rose 4.4% in December, with that rise driven by an uptick in single-family construction. Single-family starts are at the highest number in six years, reaching a pace of 728,000 units in December. “That is a good early sign that homebuilders are gearing production for greater demand in the spring,” Smoke notes.

Low mortgage rates: Mortgage rates continue to hit new yearly lows, bringing borrowing costs down for home buyers and refinancers. As such, mortgage application activity rose to its highest level since June 2013 recently. The 30-year fixed-rate mortgage averaged 3.63% last week, its lowest weekly average since May 2013, according to Freddie Mac. But economists are warning that the low rates won’t likely stick around much longer and could move up to 5% by the end of the year.

Existing-home sales rebounding: Demand has been growing in the existing-home sales market too. The annual pace of existing-home sales was 5.04 million in December, 3.5% higher than last year, according to the National Association of REALTORS® latest report.

“Housing supply remains the biggest issue, Smoke says. The inventory of existing-homes is at a 4.4-month supply at the current sales pace – well-below the 6-month supply that most economists consider healthy, according to NAR’s December report. “We need more markets to see listing growth over the next several weeks to keep appreciation at healthy, normal levels,” Smoke says.  “With three years of positive price appreciation behind them, existing-home owners in most areas should see conditions as very favorable for trading up. That is what the market needs to set the stage for significant growth this spring.””

Why I Bought Realtor.com®

Realtor_comlogoAs a Realtor® who has had successful results from Realtor.com, but many frustrations from inquiries from viewers looking at other third party real estate search sites, I have patiently been waiting for more news about Rupert Murdoch’s recent purchase. Here is the article posted on “Daily Real Estate News” yesterday. Love the last sentence!

“News Corp founder and executive chairman Rupert Murdoch took the stage at Real Estate Connect in New York on Thursday to explain why Move Inc., the operator of realtor.com®, was a better acquisition than its chief rivals in the online real estate space. Murdoch said Move and realtor.com® have a trifecta of powerful marketing points over Zillow and Trulia. “Move has the most up-to-date and accurate listings in the market,” Murdoch said, noting that realtor.com®’s listings are updated every 15 minutes.

““Move has a close relationship with the National Association of REALTORS®, and I believe real estate agents are crucial to every home sale in America,” he said. “Realtor.com® attracts transaction-ready consumers — they’re not just window shoppers — and that’s attractive to advertisers,” Murdoch said.

“Most people who begin their real estate search online eventually need human interaction and guidance, Murdoch said, and realtor.com® facilitates those connections. “There is no digital replacement for the human touch,” he said. “No technology can meet all of someone’s needs. It takes a real person. Realtor.com® helps bring home buyers, sellers, and agents together. We want the shortest distance between the American Dream and a family’s reality to be realtor.com®.”

“Murdoch reassured critics that News Corp’s goal is not to turn Move into a media company and take realtor.com® away from its mission of connecting agents with consumers. Instead, he said, he wants to enhance the realtor.com® user experience to help it better fulfill its mission. “We’re going to add to the user interface, make it more obviously friendly for agents and consumers,” Murdoch said. “We’ve got to make a better product, and then when we’re satisfied, we need to get out and market it hard. We understand that there’s a different business model in America,” continued the Australian-born media magnate, who owns media properties all over the world. “We don’t want to replace agents — we think they’re absolutely central.”

“Murdoch also predicted that the U.S. housing market would continue to expand and recover — another reason he was interested in buying a real estate company. He said the data he’s been seeing from Move thus far is encouraging, and the U.S. market offers the best bet for long-term growth in the world.

“Murdoch ended on a note that easily became the most talk-about moment of his appearance at Real Estate Connect. He said he believed in the ability of the realtor.com® name to attract consumers away from the site’s rivals because “we all know what ‘REALTOR®’ means.” And then he quipped: “What the hell does ‘Zillow’ mean?””

Sanibel & Captiva Multiple Listing Service Activity January 23-30 

Sanibel

CONDOS

2 new listings: Sanibel Arms West #L5 2/2 $524.9K, Sanibel Sunset #202 3/2 $1.795M.

3 price changes: Captains Walk #C7 1/1 now $244K, Sanibel Arms West #J4 2/2 now $459K, Sanddollar #A104 2/2 now $819K.

4 new sales: Sundial #F406 1/1 listed for $359.9K, Sanibel Arms West #L5 2/2 listed for $524.9K, Loggerhead Cay #191 2/2 listed for $660K, West Shore #6 3/3 listed for $1.795M.

1 closed sale: Pointe Santo #A2 2/2 $782.25K.

HOMES

8 new listings: 4109 SanCap Rd 2/1 $324K, 4619 Brainard Bayou Rd 3/2 $599.9K, 1085 Sand Castle Rd 3/2 $669K, 1182 Kittiwake Cir 3/3 $739K, 923 S Yachtsman Dr 3/2 $889K, 1331 Sand Castle Rd 3/2.5 $985K, 5418 Osprey Ct 4/3.5 $1.195M, 4525 Waters Edge Ln 3/3.5 $4.495M.

8 price changes: 2621 SanCap Rd 3/2 now $279K; 1602 Serenity Ln 3/2 now $499K; 9032 Mockingbird Ln 3/2 now $619,995; 741 Nerita St 3/2 now $679K; 3131 Twin Lakes Ln 3/2 now $704,999; 1224 Par View Dr 3/3 now $1.099M; 518 N Yachtsman Dr 3/3 now $1.179M; 2255 Troon Ct 4/5.5 now $1.55M.

6 new sales: 320 Palm Lake Dr 2/2 listed for $424K, 590 Lake Murex Cir 2/1.5 listed for $635K, 5753 Pine Tree Dr 3/4 listed for $749K, 1337 Eagle Run Dr 3/2.5 listed for $1.149M, 6440 Pine Ave 3/3 listed for $1.295M (our sale), 536 Lighthouse Way 4/4.5 listed for $3.395M.

1 closed sale: 960 S Yachtsman Dr 3/3 $1.299M.

LOTS

No new listings.

1 price change: 1311 Par View Dr now $269.9K.

No new or closed sales.

Captiva

CONDOS

2 new listings: Tennis Villas #3115 1/1 $294.9K, Beach Villas #2614 2/2 $620K.

2 price changes: Bayside Villas #4114 1/2 now $269.9K, Bayside Villas #5316 3/3 now $619K.

No new or closed sales.

HOMES

1 new listing: 928 S Seas Plantation Rd 5/5.5 $4.175M.

1 price change: 17130 Captiva Dr 4/4 now $4.499M.

2 new sales: 43 Oster Ct 2/2.5 listed for $784.9K; 16585 Captiva Dr 5/4/2 listed for $2,799,585.

No closed sales.

LOTS

No new listings or price changes.

1 new sale: 16915 Captiva Dr listed for $1.39M.

No closed sales.

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.

Until next Friday – best weekend wishes to all – from Susan Andrews, aka SanibelSusan

Thankfulness Abounds as the Sun Shines Brightly on Sanibel & Captiva Islands

Temps 11-28-14It’s just SanibelSusan at the office today following our chilliest morning of the season yet – 48 degrees F this morning, though it now has warmed up to 64. From the forecast, it looks like this will be our last cold day for a while. Temperatures are expected to get back into the high 70’s/low 80’s before the weekend ends, and continue into next week. We probably will be wearing shorts again by island luminary nights next weekend, December 5 and 6. 

Thanksgiving Day on the island was clear and cool. Lots of families are here vacationing. It’s a great start for the Master Arts & Crafts Fair which began today at The Community House across the street from Sanibel Square. This usually is one of their most attended events of the year, so The SanibelSusan Team is hopeful for some walk-in traffic. 

free_christmas_tree_ipad_wallpaper_s-13The BIG ARTS Community Chorus sings two sets there tomorrow (Saturday) morning and then sings again tomorrow night at the South Seas Plantation tree lighting – all good practice for our Holiday Concert which is Tuesday, December 9 at BIG ARTS Schein Performance Hall. Tickets are going fast! 

Below are a couple of real estate news articles followed by the activity posted in the Sanibel & Captiva Islands Multiple Listing Service over the past seven days.

5 Reasons Housing Markets Are Thankful

realtor logoHere is SanibelSusan’s 2-cents worth on an article posted Wednesday on “Realtor® Magazine” on line:

“The housing market has seen plenty of challenges the last few years, but could brighter days be ahead? Based on recent housing reports, some markets are reporting a rosier picture now than for the first half of the year — and growing optimism heading into next year for a lasting turnaround. 

“Reason for Good Cheer? Here are five market gauges that many in the real estate industry are thankful for this holiday season: 

“1. Mortgage rates are still low. Home buyers can take advantage of borrowing costs that remain near historical lows. Last week, the 30-year fixed-rate mortgage averaged 3.99% nationwide, marking the sixth consecutive week of averages near 4%. In October, the 30-year fixed-rate mortgage reached its lowest average of the year at 3.97%. “If you are planning to buy a home in the next year, it’s better to do it sooner rather than later,” Frank Nothaft, Freddie Mac’s chief economist,…Still, many economists aren’t expecting the rate surge in the new year to be quite as drastic as previously seen. Fannie Mae recently revised its forecast for 2015, expecting low mortgage rates to stick around longer into the year. Fannie Mae now projects rates will average 4.3% next year, a drop of about two-tenths of percentage points from its forecast earlier in the year.” 

Susan says: Most island sales continue to be “cash”, but the consumer confidence generated by the low interest rates definitely helps the market on Sanibel and Captiva. For those buyers looking to finance, the good times continue. The time is right for a real estate loan!

“2. Home sales have been inching up. In many markets, more sales are being reported. Existing-home sales in October were above year-over-year levels for the first time in 12 months, according to the National Association of REALTORS®’ latest report. Sales are at their highest annual pace since September 2013.  The job market may be a big contributor behind that increase, says Lawrence Yun, NAR’s chief economist. “This bodes well for solid demand to close out the year and the likelihood of additional months of year-over-year sales increases,” Yun said in a recent statement.” 

On Sanibel and Captiva, home sales also continue to improve. Last year, 197 homes sold on Sanibel. Year-to-date, there have been 187 closings with another 29 Sanibel homes under contract = 216 which is the first time the number of Sanibel homes sold has passed 200 since 2005 when 266 homes sold.

On Captiva, 18 homes sold last year, compared to 23 closed sales to-date there, with another home under contract = 24 home sales or about the same as years 2011 and 2012.

“3. Buyers are getting more choices. Home buyers are finally getting more selection in homes for-sale. Unsold inventory is 5.2% higher than a year ago, representing a 5.1% supply at the current sales pace.  “The growth in housing supply this year will likely prevent the drastic sales slowdown and coinciding spike in home prices we saw last winter due to low inventory,” Yun says. “However, more housing starts are needed to increase supply, meet current demand and keep price growth in check.” New-home construction is gradually picking up in the latter half of the year, also bringing more inventory into many markets. Single-family housing starts rose 4.2% month-over-month in October to 696,000 units, reaching the highest level since November 2013, the U.S. Department of Housing and Urban Development and U.S. Census Bureau reported. What’s more, the future looks bright that the increase will stick around for the time-being: Building permits — a gauge for future building activity — increased 4.8% in October to an annual rate of 1.08 million units. “The rise in single-family starts is more proof that the economy is firming and consumer confidence is growing,” says Kevin Kelly, chairman of the National Association of Home Builders. ‘We expect continued momentum into next year.””

Here on the islands, where build-out is near, we do not have that same increase in inventory and new product. With just 142 Sanibel homes currently for sale (and 44 on Captiva), island Realtors® just hope there is have enough product to sell this winter. Condominium inventory is low too, with just 122 Sanibel condos for sale (37 on Captiva), compared to the 168 Sanibel condos that have sold this year (23 on Captiva). The island market continues to rebound! 

“4. Foreclosures are falling. In October, distressed home sales dropped into the single digits for the third month this year. Distressed sales, which include foreclosures and short sales, fell to 9% in October, compared to 14% a year ago, NAR reports. Foreclosures and short sales typically sell at a discount — 15% or 10% below market value, respectively — and can place downward pressure on overall home prices in an area. The decrease in foreclosures is helping more home values to stabilize in communities. 

Still, while distressed sales are trending downward overall, several pockets across the country are still battling elevated levels, particularly in judicial states like Florida, Maryland, and New York, NAR President Chris Polychron recently said in a statement.”

Thankfully, the islands did not have many foreclosures, but for those Realtors® who sell off-island throughout the other communities in Lee County. They agree.

“5. Home prices are stabilizing. The median existing-home price for all housing types in October was $208,300 — 5.5% above October 2013, according to NAR’s latest report. It marks the 32nd consecutive month of year-over-year price gains. The double-digit gains in prices from last year have mostly faded away. “Many of the fastest-appreciating real estate markets last year have now settled into a more sustainable pattern of single-digit appreciation,” Daren Blomquist, vice president of RealtyTrac, a real estate data provider, said at the end of October. Still, the gains in home prices over the past year have made home owners feel more optimistic about selling. Forty-four percent of about 1,000 home owners surveyed in Fannie Mae’s October 2014 National Housing Survey said now is a good time to sell, marking an all-time survey high.”

Yes, island prices are stabilizing too. The average Sanibel home price has been over $800K since 2011, while condo prices did not really jump until this year. 2014 Sanibel average condo price = $666,072. That average has not been over $600K since 2010. 

On Captiva where the market is smaller, the averages are not as discerning; but even so, the average Captiva home price was $2.8M this year, compared to $2.5M last year, and $1.5M in 2012. Average Captiva condo sale price this year is $646,350, not much different from last year, $659,185.

Luxury Sales Outshine Rest of the Market 

CNBC_Logo_FlatCNBC posted an article last week that was reposted in the “Daily Real News” on Friday. It relates to our island market: 

“Sales of million-dollar homes are soaring: Deals on existing homes priced above $1 million climbed more than 16% in October compared to a year ago, according to National Association of REALTORS® housing data. The increase was bigger than any other price segment. “There is little volatility in the stock market. It is whoppingly higher, so people in the top 10% of wealth are really feeling confident now,” says Lawrence Yun, NAR’s chief economist.

“Sales are also rebounding for listings in the $750,000 to $1 million range, up 12% year-over-year according to NAR. Meanwhile, sales of homes priced under $100,000 dropped 6% year-over-year in October. The largest growth in luxury markets were mostly centered in Miami; Los Angeles; Riverside, Calif.; and New York. International buyers—particularly those from China, Canada, Europe, Russia, and South America—are continuing to help drive up the U.S. luxury market.

“Other markets that are often considered “affordable” are seeing bigger pockets of luxury taking hold too. For example, in Houston, the median home price has risen above the national average and landed No. 6 on a survey by the real estate brokerage Redfin of markets with the most million-dollar sales, beating out Boston, Washington, D.C., and Seattle. “It’s the new economy of the energy boom and other industries moving inland and taking dollars with them,” says Nela Richardson, chief economist for Redfin. “Our agents are going crazy in Houston.”” 

Check How Mobile-Friendly Your Website Is

SANSLogoAn article this week in “Daily Real Estate News” says that Google soon will be labeling websites “mobile-friendly”. Naturally, the first thing I did after reading the article was to take the Google on-line test to see how www.SanibelSusan.com fares. The answer is: “Awesome! This page is mobile-friendly.”

The article says: “The purpose of the new label is to help prevent frustration among mobile searchers, who are growing tired of visiting sites with too-small text, difficult-to-tap links, or sites that have to be scrolled sideways to view all the content. Google started adding the “mobile-friendly” label to its mobile search results last week. To earn the label, Google says a site must meet the following criteria: 

  • Software that is not easily viewed on mobile devices (such as Flash) is avoided. 
  • The text is readable without the visitor having to zoom in.
  • The site automatically sizes the content to fit the screen, so that visitors don’t have to scroll across or zoom to view the page’s contents.
  • Links are far enough apart so visitors can tap them with ease.

“To find out how mobile-friendly your site is, Google offers a Mobile-Friendly Test. You can plug in your URL and you’ll receive a report on how mobile-friendly the page is. The criteria could later be used to determine where your site falls in search results.

““We see these labels as a first step in helping mobile users to have a better mobile web experience,” Google writes in a statement announcing the new labels. “We are also experimenting with using the mobile-friendly criteria as a ranking signal.”” 

RSPS (Resort and 2nd-Home Property Specialist)

RSPS LogoI got a phone call today with a referral from a fellow RSPS. That is a Realtor® who also holds the Resort & 2nd-Home Property Specialist designation. Though I teach the segment about this same subject during our local Association of Realtors® island designation class series, it has always surprised me that only six local Realtors® (yours truly included) have taken the time to earn this national designation. I know for a fact that many island property owners also own property in other resort areas like the mountains of Aspen, Steamboat Springs, New England’s White Mountains, and the Carolinas; the beaches of Cape Cod and Hawaii, plus the Pacific/Atlantic seaboards, and the Great Lake areas. So, I hope those referrals keep coming, the islands are a great fit for buyers looking to invest in the resort and 2nd-home market. 

Sanibel & Captiva Islands Multiple Listing Service Activity November 21-28 

Sanibel

CONDOS

4 new listings: Colonnades #11 1/1 $195K, Island Beach Club #330E 3/2.5 $795K, Sand Pointe #214 2/2 $749K, Somerset #B101 3/2.5 $2.2M (our listing). (Below are a few more photos of this new listing at Somerset at The Reef. The streaming video with showing the fabulous beach/Gulf of Mexico views and waterside enclosed balcony is being prepared later today. It will be posted soon!)

1 price change: Seashells #15 2/2 now $324.9K.

3 new sales: Sundial #J203 1/1 listed for $425K, Sundial #G101 2/2 listed for $445K. Compass Point #101 3/2 listed for $1.169M.

3 closed sales: Ibis at The Sanctuary Ibis #301 2/2 $421K, Nutmeg Village #107 #2/2 $615K, Plantation Village #B321 3/3 $2.075M. 

HOMES

6 new listings: 1712/1714 Sand Pebble Way 4/2 duplex $399K; 999 Dixie Beach Blvd 3/2 $599K; 9032 Mockingbird Dr 3/2 $649,946; 1490 Middle Gulf Dr 3/4.5 $1.859M; 1137 Golden Olive Ct 5/3.5 $2.275M; 1204 Isabel Dr 3/3.5 $4.1M.

4 price changes: 564 Hideaway Ct 3/2 now $589K, 1717 Windward Way 3/2 now $649K, 1528 Angel Dr 3/2 now $849K, 1272 Isabel Dr 3/3.5 now $3.895M.

8 new sales: 1644 Bunting Ln 3/3 listed for $495K, 660 Durion Ct 2/2 listed for $549K, 1477 Albatross Rd 4/3 listed for $598.8K, 1207 Par View Dr 3/2 listed for $759K, 1674 Sabal Palm Dr 3/3 listed for $865K, 501 Sea Walk Ct 3/2 listed for $889K, 9448 Cotten Ct 3/2 listed for $898K, 1779 Venus Dr 4/5.5 listed for $3.998M.

2 closed sales: 3990 Coquina Dr 3/2 $570K, 1777 Serenity Ln 5/4.5 $754K.

LOTS

No new listings, price changes, or new sales.

1 closed sale: 776 Birdie View Pt $375K. 

Captiva

CONDOS

1 new listing: Bayside Villas #5320 3/3 $650K.

No price changes or new sales.

2 closed sales: Bayside Villas #5230 1/2 $280.5K, Sunset Beach Villas #2218 2/2 $568.5K. 

HOMES

3 new listings: 14981 Binder Dr 3/3 $1.149M, 11500 Chapin Ln 4/4.5 $2.195M, 15009 Binder Dr 4/5.5 $4.295M.

3 price changes: 43 Oster Ct 2/2.5 now $784.9K, 15747 Captiva Dr 6/6.5 now $5.995M, 16428 Captiva Dr 7/8/2 now $9.5M.

1 new sale: 11520 Laika Ln 2/2 listed for $2.75M.

No closed sales.

LOTS

Nothing to report.

This representation is based, in whole, or in part, on data supplied by the Sanibel & Captiva Islands Association of Realtors® or its Multiple Listing Service. Neither the association nor its MLS guarantees or is in any way responsible for its accuracy. 

Our ad in the local “Island Sun” this week including a special thank you to all of our clients, colleagues, and business associates who have contributed toward making it another great year for SanibelSusan Realty Associates. We always are thankful to be living and working on this wonderful island, but especially enjoy thanking those who have helped to make it possible! Best holiday wishes to all! SanibelSusan (Susan Andrews)