SanibelSusan was ready to report another Friday with fantastic island weather until the rain began about 2 p.m. It’s still beautiful, just with a few raindrops. Since yesterday, the team and I have been getting our annual 7000-piece mailing post-office ready. If you are on our mailing list, you will get an island inventory/recent sale booklet soon. If you want to be added to the mailing list, just let us know.
The forecast isn’t what we want for a holiday weekend, with Tropical Storm Alberto likely to bring more heavy rain beginning tomorrow afternoon. Fingers crossed that maybe some holiday visitors will decide to look at real estate, instead of beaching, boating, and biking.
In anticipation of a rainy weekend, yesterday I took the long route from home to office to snag a few photos of some of the wonderful flowering spring vegetation before the raindrops pelted them. Here they are, beginning with a pink hibiscus at my house, followed by a late-blooming Royal Poinciana tree at Captain’s Walk, my favorite flowering trees at Sanibel Moorings, a fragrant frangipani in Sanibel Shores, and the wonderful butterfly garden at West Wind Inn.
Below are a couple of news articles followed by the action posted since last Friday in the Sanibel & Captiva Islands Multiple Listing Service. It illustrates, “it’s quiet.”
Sanibel & Captiva Islands Association of Realtors®
There was no Realtor Caravan yesterday. It’s the off week in the summer biweekly schedule, but the Sanibel Captiva Islands Association of Realtors® has been hosting their annual classes for the Islands Specialist designation. To earn the designation, Realtors® must attend all 12 module classes which cover all aspects of listing and selling real estate on Sanibel and Captiva. Since this program began in 2006, close to 100 local Realtors® have earned the designation.
On Wednesday, I again taught the Resort & 2nd Homes module which I authored and update each year. It’s good to know that the “beach” remains the top location for all vacation and 2nd home sales. Florida also continues to hold its place as one of the top four states for resort and 2nd home buyers. (The other states are California, Texas, and Michigan.) Here’s a photo of the attendees after my pop quiz which earned them funny resort wear.
Island Projects Underway
During my drive-around yesterday, I noticed that several building projects are underway. Several new homes are going up, including a big one on Limpet Drive and another big home in Butterknife. I was surprised to see a cute little often-admired beach cottage taken down on East Gulf Drive near Olde Sanibel. Probably a new larger home soon to go up there too.
Construction continues on the new building at the site of the former Sanibel Steak House, and remodeling continues at the former Jacaranda Restaurant.
Remodeling also is ongoing at another new eats spot in Tahitian Gardens, called “Paper Fig Kitchen”. It’s scheduled to open in June providing catering and take-along. Check them out at http:/www.PaperFigKitchen.com.
Best 25 Places People Moving To in 2018
As published in the May 21, 2018 Fort Myers “News-Press”, Lee County is among the best places people are moving. It says:
“A new report from U.S. News & World Report ranks Lee County 2nd nationwide on its list of “The Best 25 Places People Are Moving to in 2018.”
“The county’s population spiked more than 14% from 2012 to 2016, behind only Myrtle Beach, S.C. (The report refers to Fort Myers, but the data reflects the entire county.)
“Florida locations dominate the list, including Sarasota at No. 3, Port St. Lucie at No. 6 and Melbourne at No. 10.
“This begs questions: Is so much growth good or bad? What is the impact? Christopher Westley, director of the Regional Economic Research Institute at FGCU, said there are many ways to look at such a ranking.
“Demographically, the Baby Boomers have been planning to move to Florida for 25 years and now they’re doing that, hence Florida’s outsized presence on this list,” he said. “That’s a big factor.” It’s important, Westley said, for elected leaders and others to consider the implications of such growth 20 years from now, when that generation’s migration is over. “Then what will Florida look like?” he pondered.
“Florida’s population is over 21.3 million, according to the latest estimate based on U.S. Census Bureau data. It will exceed 22 million in 2020, based on trends, and could hit 26 million in 2030. The last Census estimate for Lee County, in July 2017, says the population is nearly 740,000, so it’s likely over 750,000 today.
“The largest future growth areas in the county include Cape Coral and Lehigh Acres, where there is plenty of space to develop. The Cape’s population, estimated at 180,000, is expected to reach 400,000 at buildout.
“This “Best 25” list is based on the “Best Places to Live” ranking, which looks at the 125 most populous metro areas in the nation. Lee County, again listed as Fort Myers, ranks No. 41 on that list. Collier County’s population, estimated to be almost 373,000 in July 2017, is slightly too small to be included.
“Eric Berglund, executive director of the Southwest Florida Economic Development Alliance, said workers are a critical piece of the growth equation. “Jobs attract people and having more people here gives us a more diversified and qualified workforce,” he said. That’s important because site selectors — those examining where to locate businesses — look at more than just population when making decisions. “They’re asking, ‘What skill sets does the workforce have?’” Berglund said. “They’re saying, ‘If I can’t get the talent to work for me, the location won’t work.'”
“Workers, too, are evaluating a community when determining whether to relocate. That’s one reason issues like attainable housing and transportation are important. “You need to make sure workers have somewhere to live and that the infrastructure is adequate to get them around,” he said.
“Those concerns have sparked more conversations around attainable housing in Lee and Collier counties.
“Everybody is saying, ‘If we have such a robust tourism industry, we need to make sure our workers have a place to live,’” Berglund said. “It’s critically important.”
“Brian West, a spokesman for Lakeland-based Publix, said many variables are involved in the company’s site selection process, which relies on market research. “The population in an area is one of the considerations, along with projected growth,” he said. “Most of our growth continues to be right here in Florida.”
“The Great Recession, Berglund said, changed the budget realities for policymakers, forcing them to reprioritize spending. That’s changed in recent years, through the rebound. “With the tax base increasing, they’re able to come in and start to make some of those investments with infrastructure that got delayed,” he said.
“On a longer-term scale, Westley wondered: “How many municipalities’ operational strategies are based on income from continued in migration and how will that change once the demographic trends change?”
“Lee County Manager Roger Desjarlais was at an all-day meeting Monday and unavailable for comment, said Betsy Clayton, county spokeswoman, in an email. The county, she wrote, has a “continuation budget,” which is the cost to provide the exact same level of services from one year to the next. “If population growth impacts service levels, that is factored into the development” of this budget, she wrote. “The county’s 5-Year Capital Improvement Plan also contemplates the infrastructure that will be needed to accommodate growth.”
“More population can strain resources, from roads and schools to water and health care if it’s not addressed adequately.“These are things that have to be taken into consideration as the region grows,” Westley said.
“Most of the same cities appear on such “best places” lists because they are appealing destinations and many are in states — like Florida — with no income tax.
While growth affects Florida cities and counties differently, partly based on their reliance on tourism, there are many other communities nationwide — from Seattle to Key West — struggling with such issues due to wage differences in the workforce. “When you attract higher income through in migration, you also create a demand for more of the trades as a result of them being here, whether it’s health care or restaurants,” Westley said.
“Moving forward, elected officials in Lee and Collier counties will continue to look to the state’s more developed east coast for lessons. “What did they do wrong? What did they do right and what can we learn from their experience?” Westley said. “Our area is in the process of turning a corner right now.”
“Florida metro areas on ‘Best Places People Are Moving’ list
No. 2: Fort Myers
No. 3: Sarasota
No. 5: Orlando
No. 6: Port St. Lucie
No. 7: Daytona Beach
No. 9: Lakeland
No. 10: Melbourne
No. 12: Tampa
No. 21: Jacksonville
Source: U.S. News & World Report”
What to Consider Before Downsizing
Posted online today at FloridaRealtors®, this article is sourced to USA Today:
“Tim and Tracey Kerin knew it was time to downsize soon after their grandson Maximus was born. “We started to re-evaluate what’s important to us at this stage in life and decided that our health and family were more important than a larger home with a big backyard and pool,” says Tim, 58, who along with Tracey, 59, operates a commercial cleaning and construction business.
“Last December, the Kerins packed up a two-story colonial replete with a beautifully landscaped garden in Damascus, Md., and moved to New Smyrna Beach, Fla., near their sons Justin, 35, and Jason, 33, and their families. And of course, they get to see Maximus, now 2. “We usually see Max a couple of times a week, and he spends one night every weekend, which we look forward to,” Tim says.
“The Kerins are not alone in their quest for a simple life centered on happiness. According to a recent TD Ameritrade Survey, 42% of pre-retirees are likely to downsize if they haven’t done so already. Some 25% of respondents are moving to a warmer climate, and 17% are moving closer to loved ones.
“Another critical consideration is cost. “Retiring with a lower mortgage payment, (lower) property tax bill, (and) smaller place to clean and maintain can be attractive,” says Dennis LaVoy, CFP of Telos Financial in Plymouth, Mich.
“Before downsizing, homeowners should run the numbers to make sure it makes financial sense. “Look at costs associated with selling the primary home, such as preparing the house for sale, agent’s commission, moving and buying a smaller home to get an idea of the fixed costs to relocate,” says Aaron Galileo, senior loan officer at Investors Home Mortgage in Howell, N.J.
“Once a person decides to downsize, he or she must keep lifestyle in mind. “You need to save as much as you can for retirement to keep your lifestyle intact,” says Jeff White, a financial analyst at FitSmallBusiness.com. “If you can lower your monthly mortgage payment from $2,500 for the big home to $1,200 per month for a nice condo that fits you and your spouse, why not leap and invest the extra $1,300 into your retirement plan?”
“The amount of space you have may also influence your decision to scale down. “If the kids have moved out and you’re an empty-nester, do you need all of that space?” asks Brian Graves, co-founder of Everything But the House, an online estate sale marketplace. He says factor in how much space you need based on your family dynamic and the frequency of out-of-town guests.
“For some homeowners, maintaining a property, especially an older one, is no longer attractive. That was the case for Sean Dougherty, age 51, and his wife, Juliana Atinaja-Dougherty, 56. In February, they moved into a two-bedroom, two-bath apartment in Manhattan after living for more than 20 years in the 2,000-square-foot single-family ranch house in Clifton, N.J., where his wife grew up. “The house was run down in small but noticeable ways, and we kind of lost the emotional energy to fix it up for sale, so we priced it to sell,” says Sean, a senior vice president at a public relations firm, and Juliana, an attorney. “Plus, we always wanted to move back to New York at some point and having reached a point where we are more financially comfortable, it made sense.”
“Part of their decision was doing the math and figuring out they could afford to do it, especially given that the move to New York would increase their cost-of-living expenses substantially thanks to the rent they now pay. The other part was wanting to enjoy the entertainment and cultural experiences of big-city living.
“In my case, I wanted to do more in New York like seeing friends, taking in a Broadway show or going to a book reading without worrying about the frustrating commute back to New Jersey,” Sean says. Even still, they are happy with the move. “I put a ceiling on what we could afford, and I could still keep my job as my wife plans to retire soon,” Sean says. His best advice for those thinking about downsizing: “Don’t wait too long. It’s easy to live in the status quo of your life, but then you deny yourself other experiences.”
“While there is no one-size-fits-all answer for when it’s time to downsize, keeping these factors in mind will help pre-retirees and retirees make a smooth transition.”
Sanibel & Captiva Islands Multiple Listing Service Activity May 18-25, 2018
1 new listing: Sanibel Moorings #1312 2/2 $549K.
1 price change: Island Beach Club #220E 2/2 now $899K.
2 new sales: Sundial East #Q404 2/2 listed at $929.9K, Island Beach Club #230D 2/2 listed at $1.395M.
2 closed sales: Nutmeg Village #313 2/2 $950K, Sanddollar #B301 2/2 $1.059M.
5 new listings: 1126 Schooner Pl 4/2.5 duplex $459K, 1774 Bunting Ln 3/2 $629K, 1066 Sand Castle Rd 3/2 $639K, 1476 Sand Castle Rd 3/2 $739K, 3136 Twin Lakes Ln 3/2 $995K.
5 price changes: 1520 Centre St 3/2 now $465K, 9225 Belding Dr 3/2 now $515K, 5885 Pine Tree Dr 3/2 now $599K, 610 Hideaway Ct 3/2.5 now $639K, 734 Anchor Dr 3/2 now $899K (our listing – photos below).
6 new sales: 966 Greenwood Ct S 3/2.5 half-duplex listed at $449K, 1717 Atlanta Plaza Dr 2/2 now $450K, 1338 Tahiti Dr 2/2 listed at $565K, 752/754 Cardium St 4/2 duplex listed at $579K, 223 Daniel Dr 4/3 listed at $898K, 1545 Sand Castle Rd 4/3.5 listed at $1.149M.
5 closed sales: 3043 Poinciana Cir 4/2 $487.5K; 1145 Shell Basket Ln 2/2 $639,875; 1137 Shell Basket Ln 3/2 $700K; 805 Sand Dollar Dr 4/3 $1.295M, 1272 Isabel Dr 4/4.5 $2.8M.
No new listings.
1 price change: 9226 Kincaid Ct now $129K.
No new or closed sales.
No new listings, price changes, or new sales.
1 closed sale: Beach Homes #22 2/2 $1.791M.
1 new listing: 15879 Captiva Dr 3/3 $3.495M.
2 price changes: 16525 Captiva Dr 3/3 now $1.875M, 17030 Captiva Dr 6/7.5 now $8.475M.
No new or closed sales.
Nothing to report.
This representation is based in part on data supplied by the Sanibel & Captiva Islands Association of Realtors® Multiple Listing Service. Neither the association nor its MLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or its MLS may not reflect all real estate activity in the market. The information provided represents the general real estate activity in the community and does not imply that SanibelSusan Realty Associates is participating or participated in these transactions.
Especially on Monday, we honor those who served. Here’s hoping you have a nice weekend too.
Susan Andrews aka SanibelSusan