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Sanibel & Captiva Island Real Estate Happenings With a Chill in the Air

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It was another fairly quiet week on Sanibel Island, but we got a sampling of fall/winter weather yesterday when the high was just 70 degrees. Then last night, it went down into the high 40’s. Today, it is clear and crisp. You can almost feel it through these photos that I took this afternoon from Island Beach Club on West Gulf Drive.

Golfing News

Son and Office Manager, Dave golfed with a pal at Shell Point last Sunday and got his first “hole in one“. We have been giving him the business about it all week.

On the island, rumor also has it that Beachview Golf Course will soon be opening under new ownership. If you like to stay up on what is going on at the Sanibel golf clubs, below are links and info. Our December 13, Realtor® Caravan meeting will be at The Sanctuary, so I will have a winter update on what is happening out there then.

Election on Sanibel

The island got national exposure – as did much of Florida – after the Tuesday election. Though Dave and Lisa voted quickly at their poll just off island, Elise had a longer wait in South Ft Myers. I vote at the Sanibel Community Church which usually is very efficient, but not so this time. The 4-page ballot and only one scanner made for a long line. In the morning, it took me 3-1/2 hours which thankfully was overcast much of the time, with only a couple of showers. The afternoon voters were not as lucky and were standing out in the hot sun for 4 to 6 hours. It was nearly midnight before many got through the line. Some, however, became discouraged and either left after standing in line too long or just didn’t vote. Several other local precincts had similar waits. Luckily when the Captiva poll closed, a 2nd scanner was moved to Sanibel, or those voters might still be line. Not a good reflection on Lee County.

Taste of the Islands

Sanibel weather is expected to be back into the low 80’s by Sunday just in time for the 31st Annual Taste of the Islands which is from 12:30 to 5 p.m. at the Community Park right across the street from SanibelSusan Realty. This year promises to be the best ever with an assortment of great food provided by 20-island restaurants in addition to classic rock music performed live by local bands! (I will have our front door open to enjoy the sounds and hopefully snag a few folks interested in real estate!) Proceeds help CROW’s (Clinic for Rehabilitation of Wildlife) mission to save wildlife.

Fresh Taqueria

Continuing with food news, there is a new tacos and tapas place on Sanibel that is a blend of Cuban, Spanish and Mexican cuisine. It opened about a week ago at 2411 Periwinkle Way, which was the original home of Cheeburger Cheeburger. According to local reports, the new Latin fusion restaurant has salads and soups, tacos and tapas, Cuban pressed sandwiches and enchiladas all on an a la carte menu with a variety of sides available. The restaurant seats 40 and is open for lunch Tuesday through Sunday from 11:30 a.m. to 2:30 p.m. and from 5 to 9 p.m. for dinner.

What to Ask When Shopping for Homeowners Insurance

It seems that when you tout yourself as a full-service Realtor®, you get quizzed on a variety of things related to homeownership. In response to some recent inquiries about how much and what kind of homeowners insurance may be needed, here is a helpful article that was published back on February 21 on Florida Realtors®:

“Six questions to ask when shopping for homeowner’s insurance – Homeowners should work with experts to determine the type of homeowner’s insurance they need and the amount of coverage. “Besides knowing the basics of what a standard homeowner’s insurance policy covers, consumers should ask a series of questions – and receive satisfactory answers to each of them – before buying a new policy or renewing an existing one,” says Michael Barry, vice president, media relations, Insurance Information Institute (I.I.I.). I.I.I. is a nonprofit, communications organization supported by the insurance industry.

“According to I.I.I., there are six basic questions everyone should ask before buying or renewing a homeowner’s insurance policy:

“1. How much would it cost to rebuild my home in its current location in the event of a total loss? Ideally, a homeowner’s insurance policy should cover the cost of building a new home from scratch. In general, homeowners’ policies cover partial or total damages caused by fire, hurricane, hail, lightning or any other disaster if it’s listed in the policy. Flood and earthquake-related losses must be insured separately because both perils are excluded in standard homeowners’ insurance policies.

“2. How much is my personal property worth in the event of a total loss? A homeowner’s insurance policy should cover the cost of replacing all personal property (furniture, appliances, clothing) should it be stolen or destroyed by fire, hurricane or another insured disaster. Most companies provide personal property coverage equal to about 50 to 70% of the amount of insurance on the home’s structure. (A $100,000 policy for the structure would have perhaps $50,000 to $70,000 worth of personal property coverage.) However, the best way to determine personal property coverage in a specific situation is to conduct a home inventory. I.I.I. provides online software to help homeowners catalog and value possessions (https://www.knowyourstuff.org/iii/login.html) as well as an iPhone app.

“3. How much liability protection do I need? Liability covers homeowners against lawsuits for bodily injury or property damage caused to other people, including damage caused by pets. The liability portion of a policy pays legal defense costs and any court awards – but only up to the limit set in the policy. It’s effective not just inside the home but also anywhere in the world. Liability limits generally start at about $100,000, and many insurance agents will recommend at least $300,000. Homeowners with significant assets may want more; others may want less.

“4. What level of additional living expense coverage do I need? The Additional Living Expenses (ALE) provision is found in standard homeowners insurance policies. It pays for the costs of living away from home if damage from an insured disaster makes the house uninhabitable. ALE covers hotel bills, meals and other expenses above customary living expenses. ALE coverage differs from company to company. Many policies provide coverage equal to about 20% of dwelling protection. For example, if the structure of your home is insured for $100,000, you would have $20,000 of ALE coverage. Some companies impose a time limitation, such as 12 to 24 months.

“5. Should I buy a separate flood and/or earthquake insurance policy? Flood coverage is available from the federal government’s National Flood Insurance Program (NFIP) and from a few private insurers. Earthquake coverage is usually available in the form of a supplemental policy.

“6. Do I qualify for any discounts? Homes with smoke detectors, burglar alarms or dead-bolt locks often get a premium rate discount. Sophisticated sprinkler systems and alarms that ring at monitoring stations often reduce homeowner’s insurance premiums too. Ask an agent. If you are at least 55 years old and retired, for instance, you may qualify for a discount of up to 10% at some companies. If you have completely modernized your plumbing or electrical system recently, a few companies may provide a price break.”

Sanibel’s City Council to Tackle Neglected Properties

An article posted on-line Wednesday at http://www.news-press.com discussed an item that becomes even more important when you are trying to sell a property.

“An increased number of complaints by citizens over a small number of abandoned and neglected properties have caught the attention of Sanibel’s City Council. Though City Manager Judith Zimomra said the number of abandoned and neglected properties is few, discussing the introduction of a city ordinance is a must. With an ordinance, the city can prevent other properties from becoming problems, and neglected and abandoned properties from becoming a nuisance. The council will hold discussion about whether it should introduce such an ordinance during today’s meeting. Zimomra added it would be a “mischaracterization” to believe that neglected properties are a widespread problem. “It’s truly preventative,” she said. “We don’t want to wait until something is in a crisis situation.”

“In a memo dated Wednesday, City Planner Scott Fulton presented the council with a package of information detailing proposed code changes. The current code allows for the city to address properties that are considered dangerous, but not neglected. For example, one of eight properties listed in the package — 5100 Sea Bell Road — is referred to as “dangerous.” The front staircase “became so dilapidated that it fell down,” according to the memo. The city has claimed it has been a problem for five years and has received a total of 10 complaints because of it.

“Another property listed in the memo is 1108 Sandcastle Road, a home for which Diane Chesley has written a letter to the city complaining about its condition. “I don’t want to be a pain, but this is a major investment in my life and I don’t someone else’s neglect to impact me,” Chesley said. “You don’t have to have a fancy home or yard, but you have to have a well-maintained yard. We’re not asking for anything fancy.” Chesley said she’s going to be among those who will be present at today’s meeting speaking in favor of the ordinance. Further, she said the ordinance would allow the city to address properties in a “fair manner to everybody.” “I think for the welfare of the residents of this island, we should all have a vested interest,” she added.

“…Other cities in Lee County have taken more drastic measures than Sanibel to address abandoned properties. Since March 2009, Cape Coral has required banks pay a $150 registration fee on foreclosed properties. Banks also register with the lot mowing and maintenance program; Through property management companies, they pay to have grasses mowed and properties kept up to code. But Sanibel doesn’t have the want or need to take such an aggressive approach. The city just wants to be able to address properties before they reach the “dangerous” category. “Sanibel’s properties are extremely well maintained,” said Zimomra, adding that the ordinance would simply address those few nuisance properties….”

Veterans Day Celebration on Sanibel

This 23rd annual ceremony also is the 94th anniversary of the end of World War I, the 30th anniversary of the Vietnam Veterans Memorial Wall, and the 65th anniversary of the United States Air Force. Honoring all veterans, Sanibel’s event will be held on Monday, November 12, around the flagpole on the grounds at Sanibel City Hall at 800 Dunlop Road. There will be patriotic music by the Sanibel Community Band and the program includes a short talk by our local friend and artist, Luc Century, about the technique he developed to etch the Wall and his work there. It begins at 10:30 a.m.

Realtor Caravan

Yesterday, Lisa and Dave held our new listing on Island Inn Road for Realtor Caravan. Below is the activity posted in our Sanibel and Captiva Islands Multiple Listing Service (MLS) over the past week.

Sanibel & Captiva Islands Multiple Listing Service Activity November 2-9

Sanibel
CONDOS
2 new listings: Lighthouse Point #125 2/2 $539,935; Seascape of Sanibel #302 3/3.5 $1.349M.
3 price changes: Sanibel Siesta #210 2/2 now $419K, Heron at The Sanctuary #1A 2/2.5 now $489K, Pointe Santo #E32 2/2 now $749K.
2 new sales:  Mariner Pointe #1092 2/2 listed for $389K, Sanibel Arms West #M7 2/2 listed for $399.9K (our listing & sale).
1 closed sale : Sanibel Arms West #K3 2/2 $357.5K (short sale).

HOMES
9 new listings: 1002 Greenwood Ct N 3/2.5 half-duplex $349K; 1941 Roseate Ln 3/2 $449,944; 3311 Twin Lakes Ln 3/2 $599K; 2630 West Gulf Dr 3/2 $624.9K; 2550 Wulfert Rd 4/3.5 half-duplex $748.5K; 1306 Par View Dr 3/3.5 $799K; 776 Conch Ct 3/2 $845K; 1777 Serenity Ln 5/4.5 $895K; 385 Old Trail Rd 5/2.5 $1.2M.
4 price changes: 1511 Angel Dr 2/2 now $649K, 5406 Osprey Ct 3/2 now $879K, 228 Violet Dr 3/2/2 now $1.349M, 829 Tulip Ln 5/4.5 now $2.445M.
2 new sales: 1610 Sabal Sands Rd 3/2 listed for $479.9K, 3705 West Gulf Dr 5/5/2 listed for $3.995M.
2 closed sales: 3002 Poinciana Cir 3/2 $330K, 1263 Par View Dr 5/2.5 $590K.

LOTS
No new listings, price changes, or new sales.
1 closed sale: 5044 Joewood Dr $450K.

Captiva
CONDOS
No new listings or price changes.
1 new sale: Marina Villas #603 2/2 listed for $520K.
No closed sales .

HOMES
No new listings or price changes.
2 new sales: 15891 Captiva Dr 5/4 listed for $2.795M, 16310 Captiva Dr 4/5.5 listed for $4.5M.
No closed sales.

LOTS
Nothing to report.

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

November Arrives on Sanibel & Captiva Islands

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All is well this week on sunny Sanibel, though it is hard to talk about our marvelous weather as we watch the news and see the many pictures of the massive devastation in the northeast. Floridians have a huge appreciation for Mother Nature and hope that today’s blog finds everyone safe and on the road to recovery.

After a few windy days and lower than average temperatures earlier in the week, our weather is essentially back to normal for this time of the year – highs in the upper 70s/low 80s and nights in the high 50s/low 60s.

Photo from ILoveShelling.com blog by Pam Rambo

The last few days, several beaches have been covered with pen shells and sea grasses. Those are lightweight and usually the first items to get washed ashore after a storm and often an indication that good shelling finds will follow a few days later. I bet there is lots of “Sanibel Stoop”-ing going on over the weekend.

We did not have much showing activity this week, but we had a home listing go under contract, received a new listing (a nice near-beach home), and had a small closing. Bet you didn’t know we also could sell a unbuildable lot. We like challenges! After a little research, I found a neighboring owner interested in this vacant parcel so was able to help both parties by facilitating the transaction.

Weekly Realtor Caravan

We had good Realtor® turnout at our 1st-of-the-season weekly Caravan Meeting yesterday. Few sales were reported, but more new listings were announced, and a few price reductions were reported. The entire Realtor® association is gearing up for a busy new year. (This week’s Multiple Listing Service activity is posted at the bottom of today’s blog.)

This morning was the mandatory annual training for members of our 2013 Professional Standards Committee while this afternoon I also attended the kick-off event for our 2013 local leadership team. I will be chairing the islands’ Professional Development Committee again next year. This is the group that handles our local education and training events including orientation for new Realtor® members, continuing education for licensed sales associates and brokers, and classes for professional designations including the Sanibel and Captiva Islands Specialist.

Upcoming Island Events

  • Sanibel Farmers Market – reopens Sunday for its 5th season with a couple of new vendors joining the nearly 30 that are expected to return. Two new ones are Andy’s Seafood from Pine Island who is a member of the Seafood Choices Alliances (which embraces environmentally-responsible seafood) and Farmer Mike from Bonita who will bring his own mobile market trailer. Olga of Big C’s Salsa also will be back after a short medical absence. Her salsa is wonderful! The market is every Sunday (November to April) from 8 a.m. to 1 p.m. on Sanibel City Hall grounds.
  • 31st Taste of The Islands – is next Sunday, November 11 from 12:30 to 5 p.m., across the street from SanibelSusan Realty at Sanibel Community Park. (You can be sure that we will be open then to catch any prospective buyers.) With 20 local restaurants participating, two bands, the fun-to-watch traditional server competition run by the Sanibel Recreation Department, face painting, collector T-shirts, and more, this annual fundraiser for CROW (Clinic for the Rehabilitation of Wildlife) is always fun. More info at www.tastesanibelcaptiva.com  

SmartPhone Apps

Here’s a cool application that is a 1st-of-its-kind canoe and kayak navigational aid of the 190-mile Great Calusa Blueway Paddling Trail. It became available yesterday which was the opening day of the Calusa Blueway Paddling Festival which started from the Sanibel causeway. It is free on Google Play and the iTunes store. (More info at www.CalusaBlueway.com) On November 8, when the Fort Myers Boat Show opens two other iPhone and Android apps will be launched and also free – for the Lee County Boaters Guide and Artificial Reef Guide. These applications were funded by a grant from the West Coast Inland Navigation District. (More boat show info at www.fortmyersboatshow.com)

Florida’s Amendment 4 – Questions Answered

When my son keeps questioning why he should vote “yes” on Florida’s Amendment 4 on Tuesday, I knew it was time to sleuth out a few more answers for him. For those also interested, these questions and answers came from Florida Realtors® on-line.

“Does Amendment 4 hurt job creation and small businesses?  No. Florida TaxWatch, a nonpartisan watchdog, determined that Amendment 4 would increase Florida’s GDP by $1.1 billion and create almost 20,000 private Florida jobs in the first 10 years. Amendment 4 will provide predictability to small businesses by lowering their yearly assessment increase cap from 10% to 5%. Furthermore, without Amendment 4, the current 10% cap will expire in 2018, leaving small businesses completely unprotected from unlimited assessment increases.

“Does Amendment 4 make a complicated tax system more complicated and confusing? No. Amendment 4 actually adds fairness and could help make the tax code simpler. Confused is what a homeowner becomes when they see their property tax bill rise even when their home value has declined. Amendment 4 will provide a way to deal with that problem by giving authority to the Legislature to create a solution.

“Is Amendment 4 unfair to homestead residents? No. Amendment 4 benefits current Florida homeowners, small businesses, and even people who rent their homes in Florida. The additional homestead exemption will help boost Florida’s struggling housing market by giving qualified buyers a reason to get into the market. This will help lower the inventory of abandoned foreclosures that are dragging current homeowner’s prices down in neighborhoods across Florida. Amendment 4 will bring more predictability to small businesses in Florida and allow them to reinvest in local economies by creating jobs, lowering prices, and raising pay for their workers.

“The price of rent in Florida, and everywhere else for that matter, is determined by adding mortgage payment, insurance, and property taxes with other expenses. Stable, predictable and responsible property assessment increases will result in stable, predictable, and responsible rent prices. So even people who rent their homes will benefit from Amendment 4. Amendment 4 also strengthens Save Our Homes protections because it would provide relief to first time homebuyers who see their new home’s taxable value reassessed upon sale. The additional homestead exemption in Amendment 4 will then responsibly phase out as the Save Our Home’s savings are kicking in. Additionally, every citizen in Florida will benefit from the new jobs, increased GDP, and $5.3 billion of personal wealth that will come back to Florida as a result of Amendment 4.

“Doesn’t Amendment 4 contribute to an unbalanced property tax system by causing different properties to pay different amounts? Amendment 4 takes an unbalanced tax burden and ADDS equity. Florida’s small businesses have been bearing the majority of the tax burden for years. Amendment 4 will give Florida’s small business predictability by lowering the assessment cap from 10% to 5% until 2023. If Amendment 4 does not pass and nothing else is done, the current 10% cap will expire in 2018. At that time, Florida’s small businesses will enjoy absolutely no predictability whatsoever. Not only will Florida’s economy miss out on the economic benefit of Amendment 4, it will also be devastated by limitless property tax increases on small business.

“Will Amendment 4 have a negative impact on government revenue?  In a comprehensive study of Amendment 4, Florida TaxWatch examined the impact to local governments. Florida TaxWatch says that even when you do not consider the economic benefit of Amendment 4, the impact is minimal. When you do consider the economic benefit of more jobs, more personal wealth, a higher GDP and more home sales, these losses will be offset and in some cases local government revenues will actually increase.

“How are schools supposed to make up the lost revenue from Amendment 4? The additional homestead exemption contained within Amendment 4 holds school funding harmless.

“What kinds of jobs does Amendment 4 create? According to Florida TaxWatch, Amendment 4 will create almost 20,000 private nonfarm jobs.

“Isn’t Amendment 4 just a tax break for rich people and snowbirds who buy million dollar houses?

Actually, Amendment 4 is most beneficial for working Floridians who purchase lower priced homes. In fact, the additional homestead exemption in Amendment 4 is capped at the median home price in the county.

“Isn’t Amendment 4 just a tax break being pushed by a bunch of Republicans? No. Amendment 4 was placed on the ballot by the Legislature with bipartisan support. Already this year, Democrat and Republican lawmakers across the state have endorsed Amendment 4.

“Won’t Amendment 4 force local governments to raise taxes or lay off teachers, firefighters and police officers?

No. While Amendment 4 does nothing to restrict local governments from raising millage rates, local governments will only see a very slight decrease in the projected increase of their budgets as a result of Amendment 4. Since Amendment 4 does nothing to cut current local governments budgets, no layoffs or millage rate increases will even be necessary. Additionally, when you consider the economic benefit of Amendment 4 and the rising home values that will result, some local governments may actually see an increase in projected revenue.”

Sanibel & Captiva Multiple Listing Service Activity October 26-November 2

Sanibel
CONDOS
4 new listings: Island Beach Club #P1A 2/2 $460K, Loggerhead Cay #582 2/2 $549K, Sundial #O205 2/2 $659K, Junonia #203 3/2 $999K.
6 price changes: Blind Pass #A105 2/2 now $395K, Sealoft Village #106 2/2 now $539K, Loggerhead Cay #411 2/2 now $549K, Sundial #L202 2/2 now $599K, Pointe Santo #C32 2/2 now $640K, Shell Island Beach Club #5B 2/2 now $719K.
2 new sales: Tennisplace #A26 2/1.5 listed for $327,555, Pointe Santo #A21 2/2 listed for $749K.
1 closed sale: Blind Pass #B102 2/2 $325K.

HOMES
6 new listings: 2985 Island Inn Rd 3/2 $399K (our listing), 1245 Anhinga Ln 3/2 $529K,  1170 Sand Castle Rd 3/2 $619K, 4518 Bowen Bayou Rd 4/4 $725K, 9224 Dimmick Dr 4/2 $740K, 2963 Wulfert Rd 4/6.5 $2.85M.
6 price changes: 1001 Lindgren Blvd 2/2 now $614K, 6138 Castaways Ln 3/2.5 now $684K, 5742 Pine Tree Dr 4/2 now $798.9K, 5750 Pine Tree Dr 2/2 now $848.5K, 862 Beach Rd 3/2 now $939K, 1066 Beach Rd 3/3 now $1.25M (short sale).
4 new sales: 688 Cardium St 5/4 listed for $399.9K, 1536 Bunting Ln 3/2 listed for $433.5K, 1521 Wilton Ln 3/2 listed for $499K (our listing), 4996 Joewood Dr 3/3 listed for $760K.
8 closed sales: 1125 Captains Walk St 2/2 $405K, 293 Palm Lake 3/2 $426K, 9440 Begonia Ct 3/2 $465K, 660/664 Periwinkle Way 4/2/2 duplex $550K, 1755 Jewel Box Dr 3/2 $560K, 445 East Gulf Dr 3/2 $609K, 3864 West Gulf Dr 4/5.5 $2M, 3825 West Gulf Dr 3/2 $2.3M.

LOTS
1 new listing:  5407 Osprey Ct $595,555.
3 price changes: 9211 Dimmick Dr now $149,555; 4556 Buck Key Rd now $249,9; 1894 Farm Trail now $289,555.
No new or closed sales.

Captiva
CONDOS
1 new listing: Sunset Beach Villas #2228 2/2 $600K.
1 price change: Marina Villas #801 2/2 now $552K.
No new or closed sales.

HOMES
Nothing to report.

LOTS
Nothing to report.

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

Sanibel & Captiva Islands Real Estate – With All Eyes on Tropical Storm Isaac

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The SanibelSusan Team has been watching the weather channel entirely too much today; but better safe than sorry. As a precaution, Dave brought in all of our “For Sale” signs this morning. We don’t want them to become airborne.

We all got our 2012 hurricane re-entry passes in June, but it seems some did not plan ahead. The City/Police Dept stayed open until 8 p.m. last night to accommodate those folks getting them at the last minute.

With all eyes on how Isaac moves after it crosses Cuba, our plan is to be open unless it looks unsafe. Being on the easterly side of a hurricane path is not the best from a wind and storm surge standpoint, so we naturally hope it either veers way out into the gulf or dissipates.

Dave and I did some business on Sanibel’s west end earlier in the week. He snapped these pictures near the dredging area of Blind Pass. The beach sure looked terrific. Let’s hope that Isaac doesn’t bring back the sand that just got moved offshore.

 

Real Estate Action This Week

We had no real estate caravan meeting yesterday, but there was a little island sales action as posted below. Last week, we had multiple offers on our Rabbit Road lot listing that went under contract. That definitely was a surprise, but fun! It has been a long time since that has happened.

Elise took a class at the Association of Realtors® office yesterday, called “iPads, iPhones, & Tablets”. Now she’s sharing her new knowledge with the rest of us. Our Association also has a new website that went on-line this week, www.SanibelRealtors.com. 

Buyers Want a Bargain? Here’s Their Chance!

For home buyers who are looking for a chance to buy low, they may not want to drag their feet too much longer according to an article posted Tuesday in the “Daily Real Estate News”:

““Home prices have probably bottomed in most markets,” David Crowe, chief economist at the National Association of Home Builders, said in an NBC News-hosted Web chat with online visitors last week. “Mortgage rates are not likely to go down much further and will eventually rise as the economy recovers. Home builders are hungry and while you will still have to pay a fair price, you may not get a better bargain than now before all the rest of the demand comes back.” However, the best bargains will largely depend on where you’re at, Crowe says. “House prices are rising in some markets, notably Texas… In a few markets that were severely damaged by the recent Great Recession, prices may continue downward for another six to ten months,” Crowe says. Crowe says one hurdle that may slow the recovery is the inability for some home buyers to still not be able to qualify for financing due to banks’ tightened underwriting conditions in the last few years….”

Comparing this article to the Sanibel and Captiva market, I think it is safe to say that the tide is changing here too. Here are the latest inventory statistics with the number of sales “up” in all categories.

                                 #                      # Sold               # Sold               # Sold               # Sold

                              For Sale            Year-to-Date      in 2011              in 2010              in 2009

Sanibel condos          161                   132                   142                   120                   87

Sanibel homes           186                   150                   179                   124                   144

Sanibel lots                 83                     30                     19                     21                     11

Sanibel Subtotal          430                   312                   340                   265                   242

Captiva condos           47                     31                     24                     25                     22

Captiva homes            41                     25                     22                     10                    16

Captiva lots                  4                       4                       1                       2                      3

Captiva Subtotal          92                     60                     47                     37                     41

Total Both Islands       522                   372                   387                   302                   283

“Rescue Me” Partnership

This week tree trimmers were working along Periwinkle Way, removing some of the vegetation growing over the power lines. That was timely, wonder if they knew in advance that Isaac was thinking about Florida.

This trimming made it particularly timely, when I saw this internet posting:  “CROW (Clinic for the Rehabilitation of Wildlife) is working with the City of Sanibel, Lee County Electric Coop (LCEC) and Asplundh Tree service in an effort to protect our nesting birds.  This huge undertaking requires a team of volunteers who can help identify which trees have nests and mark those trees in advance to alert the tree service crews.  If an active nest is displaced or babies have fallen, the Asplundh Tree Service crew will place the nests and/or babies in “Rescue Me” boxes created by our local Boy& Girl Scouts, mark the location where the babies were found and then deliver them to CROW for short-term rehabilitative care and release back at the original nest site.”

Below are a few Sanibel bird photos. The baby red-shouldered hawk picture came from CROW while the others are from a Facebook acquaintenance who visited the island for many years and is willing to share his pictures. Thank you, Joe Santucci.

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27th Annual Coastal Cleanup September 15

SCCF (Sanibel-Captiva Conservation Foundation) is inviting everyone to participate in an international volunteer effort to rid our coastlines and waterways of marine litter, pollution, and debris. As many as 400,000 volunteers worldwide will be removing 6.8 million pounds plus of coastal trash that can hurt local economies, injure and kill marine wildlife, and choke the ocean environment. SCCF’s partner in the Ocean Conservancy’s 27th Annual Coastal Cleanup is Keep Lee County Beautiful. Participation is easy. Bring your friends and family to SCCF at 3333 San-Cap Road between 9-12 a.m. on Saturday, September 15 to check in and pick up your Coastal Cleanup Data cards and trash bags. Return your data sheets, deposit your trash in the SCCF dumpster, and have lunch or snacks on the Nature Center porch between 10 and 12 a.m. Call SSCF at 239-472-2329 with questions, to pick your “cleanup” spot early, or get data cards ahead of time.

Top 8 College Towns for Investors

I had two clients tell me this week that they are looking at buying investment real estate in their college towns. Again another timely article was posted Wednesday on “Daily Real Estate News”. It says:

“Investors increasingly are eyeing college towns to snag properties at discounts and turn them into rental properties that could potentially offer steady cash flow with student tenants. But which college towns offer some of the best returns? Realtor.com recently released its second annual list of the best college towns for investors, factoring in average monthly rental prices and comparing it to estimated mortgage payments of a median priced home. The following are the top eight college towns for investors, according to this year’s report.

1. Boston, median list price: $334,900, average rent: $3,084, mortgage payment estimate: $1,240

2. Princeton NJ, median list price: $265,000, average rent: $2,056, mortgage payment estimate: $980

3. Chicago, median list price: $194,000, average rent: $1,630, mortgage payment estimate: $720

4. Washington DC, median list price: $395,000, average rent: $2,637, mortgage payment estimate: $1,460

5. Houston, median list price: $183,000, average rent: $1,134, mortgage payment estimate: $680

6. Philadelphia, median list price: $234,900, average rent: $1,475, mortgage payment estimate: $870

7. Atlanta, median list price: $174,900, average rent: $1,187, mortgage payment estimate: $650

8. Pittsburgh, median list price: $140,000, average rent: $1,122, mortgage payment estimate: $520″

Price Your House To Sell Quickly

I have shared articles on this subject before, but thought this one particularly well written. It was posted by Dian Hymer with Inman News on Monday. Dian is a real estate broker with more than 30 years’ experience, a nationally-syndicated real estate columnist and author of “House Hunting: The Take-Along Workbook for Home Buyers” and “Starting Out, The Complete Home Buyer’s Guide.”

“If home lacks features of recent comps, it’s time to subtract value – A 1st-quarter survey of homebuyers and sellers done by HomeGain.com, a real estate services website, revealed that 76% of homeowners believe their home is worth more than the list price recommended by their real estate agent. Homebuyers usually have a better grasp of current market value in the area where they’re looking to buy than do sellers who own and live there. Buyers look at a lot of new listings. They make offers, know what sells quickly and for how much, and what doesn’t and why. HomeGain reported that homebuyers still think sellers are overpricing their homes.

“Your home is worth what a buyer will pay for it given current market conditions. This may not be the same as your opinion of what your home will sell for, or what you hope it’s worth. Relying on emotion rather than logic when selecting a list price can lead to disappointing results…. Listings that sell today are priced right for the market. Buyers need to feel comfortable that they are getting a good deal. Buyers won’t overpay if they feel home prices are still declining, and in some areas of the country, they still are. In areas of strong sales, buyers may shy away from multiple-offer situations if they feel the recovery is fragile and that prices may slide further before stabilizing. Even in areas where home sales have been strong in the first half of 2012, local practitioners wonder how long the uptick will last.

“HOUSE HUNTING TIP: When selecting a list price, it helps to understand how real estate agents and appraisers establish an expected selling price or price range for your home. They research the recent listing inventory for homes similar to yours that sold. The most recent sales give the best indication of the direction of the market. They analyze these comparable sales giving more value to your home for attributes that it has that the comparables don’t, like a remodeled kitchen. Value is subtracted from your home for features it lacks when compared to the sold comparables, like an easily accessible, level backyard.

“It’s difficult for sellers to step back and take an attitude of detached interest in their home. But it’s essential to do so if you want to sell successfully in this market…. If the comparable sale information suggests that the value of homes like yours is declining, select a list price that undercuts the competition to drive buyers — and hopefully offers — to your home. You can take a more aggressive stance on pricing if the comparables show that prices are moving up.

“If there is high demand for homes like yours, you may receive more than one offer. But don’t list too high. It’s better to stay in the range shown by the comparables and expose the house to the market before accepting offers. The market will drive the price up if it’s warranted.

“THE CLOSING: Don’t rely on rumors circulating in the neighborhood about how high a home sold. Prices tend to get inflated when passed from one person to another. Select your list price based on hard facts.”

Sanibel & Captiva Multiple Listing Service Activity August 17-24

Sanibel
CONDOS
No new listings.
3 price changes: Blind Pass #E102 2/2 now $395K, Blind Pass #B102 2/2 now $359K, Loggerhead Cay #232 2/2 now $539K.
1 new sale: Compass Point #143 3/2 listed for $1.049M.
1 closed sale: Captains Walk #F7 2/1.5 $205K.

HOMES
1 new listing: 3825 West Gulf Dr 3/2 $2.35M.
2 price changes: 1536 Bunting Ln 3/2 now $433.5K, 5841 Pine Tree Dr 3/2 now $489.9K.
2 new sales: 750 Nerita St 3/2 listed for $499K, 494 Surf Sound Ct 5/2.5 listed for $899,555.
2 closed sales: 2210 Camino Del Mar 3/2 $512.5K, 1043 Sand Castle Rd 3/2 $535K.
 
LOTS
No new listings.
1 price change: 133 Butterknife Pl now $324.9K.
1 new sale: 545 Rabbit Rd listed for $179K (our listing).
1 closed sale:  4771 Rue Helene $345K.

Captiva
CONDOS
No new listings, price changes, or new sales.
2 closed sales: Captiva Shores #1B 3/2.5 $1M, Captiva Bay Villas #D 3/3.5 $2.5M.

HOMES
1 new listing: 1114 Schefflera 4/3 $1.795M.
No price changes or new sales.
1 closed sale: 11407 Old Lodge Ln $950K.

LOTS
No new listings, price changes, or new sales.
1 closed sale: 11401 Old Lodge Ln $2.5M.

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