Tag Archives: National Association of Realtors

The Islands Are Flowering Every Month, Including May

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It is the end of another glorious week of sunny weather on Sanibel. Traffic has subsided and the islands are thinning out, but surprisingly, business again was brisk for us this week. Here are a few news items, followed the Sanibel and Captiva Islands Multiple Listing Service activity over the past seven days.

Here are some favorite island flowers to illustrate that with our Southwest Florida tropical weather, the islands of Sanibel and Captiva are colorful year-’round. Hope you like the one with the turtle.

No Realtor® Caravan This Week

Usually it is local “off season” signal when our Realtor® Caravans change from every Thursday to every other week. That off-season schedule began this week and probably will continue until November, or until business picks up again. Interestingly, for us at SanibelSusan Realty, however, this was another busy week.

I sold one of our lot listings to some European visitors, while an off-island Realtor® sold one of our condo listings. An offer on another condo is in the works, while our other two sales transactions (ready to close soon) are progressing well. All-in-all, it was another productive week, though unusual for this time of the year. All we can say is “keep it coming”.

Visit CROW’s New Visitor Center

On Monday evening, CROW (Clinic for Rehabilitation of Wildlife, Inc.) held an open house for island Realtors® at their new Healing Winds Visitor Center. Though I have been a long-time CROW member and supporter of this wonderful facility, it was my first opportunity to leisurely check out their new exhibits and talk to the new Hospital Director, Dr. Heather Barron. Dr. Heather joined their staff in January.

This special event was a follow-up to CROW Executive Director Steve Greenstein’s recent presentation to our Association membership. If you also have not recently visited CROW, please put it on your “do list”. I have some free passes to the Visitors Center and their daily (Tues through Sat) programs at 11 a.m. are continually changing as are the exhibits in the Center. Geared to educate adults and children alike, CROW’s offerings have greatly expanded during my 20 years on Sanibel as has their number of patients. If you plan to visit CROW during one of these 11 a.m. programs, consider a Friday, when they often have live animals in their cooperative presentation with partners from the Calusa Nature Center.

Is Florida’s Shadow Inventory a Rebound Threat?

This article was posted on Florida Realtors® on Tuesday. Note, the full report – The Distressed Property Market and Shadow Inventory in Florida: Estimates and Analysis – is available online.

“The term “shadow inventory” hangs over the real estate market, suggesting a thinly veiled catastrophe seen through the mist, just as the passengers of the Titanic watched an iceberg draw closer. However, a white paper written by Florida Realtors® Chief Economist Dr. John Tuccillo finds the fear of a shadow inventory overrated.
““The fear…is that the inventory of delinquent and foreclosed loans (will be released onto) an already weakened market,” says Tuccillo. “(But) the reality, even in Florida where distressed properties make up a significant portion of the market, appears to be different.” Tuccillo says lenders have no reason to flood the real estate market with more homes if doing so would drive prices down and impact the lender’s profit. While some observers worry that lenders were holding back on purpose, Tuccillo says that’s not so – that the large number of distressed properties on hold was “largely the result of confusion over the rules of the game, and thus missteps by the lenders.”
“In conducting an analysis, Florida Realtors® Research looked at data from MLSs around the state and data provided by CoreLogic, a statistical analysis company. “We looked at the recent history of distressed property listings and transactions relative to normal market data, as well as estimates for the shadow inventory, and came to some conclusions about the likely course (for the) future,” says Tuccillo.
“Conclusions
• Florida remains one of the nation’s hardest hit states for distressed property sales.
• Distressed property sales and listings have declined since late 2010, except for single-family-home short sales.
• Average prices for distressed and normal property sales have been stabilizing.
• In general, Realtors and lenders have learned how to cope with distressed properties in a way that stabilizes the market.
• Florida’s highest percentage of distressed property (compared to total listings) occurs in the I-4 corridor and Southeast Florida; the lowest percentages occur in Northwest Florida.
• Currently, Florida’s shadow inventory was 550,000 units at the end of 2011, a decline of about 9% from its peak in the first quarter of 2010.
• Currently, the flow of new seriously delinquent (90 days or more) loans moving into the shadow inventory is offset by the roughly equal flow of distressed sales (short sales and REOs).
• The number of foreclosures and REOs was significantly lower in February of 2012 than one year earlier, suggesting slower shadow inventory growth.
“Tuccillo predicts that distressed properties will be a significant feature of the Florida real estate market over the next ten years, but it will be considered just one property type a buyer can consider – one that has its own unique sales techniques and documentation.”

Update on Citizens (Wind) Property Insurance

An article in the Miami Herald on Tuesday offered the following:

“Citizens Seeks Fewer Customers, Higher Premiums – Citizens Property Insurance has some new ambitious goals: Move as many as 678,000 policyholders out of state-run insurance and once again become the “insurer of last resort.” Its strategy: Enact a flurry of policy changes that will undoubtedly raise premiums and reduce coverage for thousands. Citizens which unveiled the aggressive “depopulation” plan this month in a revised budget proposal, says it is doing so to prevent statewide financial havoc in the wake of a major hurricane. “Citizens has the ability to levy assessments (hurricane taxes) on almost all Florida policyholders in the event of a deficit after a storm,” spokeswoman Christine Ashburn said in an email. “The long term goal will continue to be returning policies to the private market, which is ultimately how we can reduce the reliance on assessments.”
“But some homeowners have already been impacted by the first wave of Citizens’ campaign to drastically reduce its size and shore up its finances. Patricia Temple, of Coral Gables, is bracing for a $2,150 premium increase this year, after Citizens sent an inspector to her home and decided her payments were too low. “I have to do what I have to do because I (can) not be without insurance,” said Temple, who is 79 and retired. “But I don’t understand how they can do this if the Legislature put in a 10% cap on rate increases.” Temple became a Citizens client after Liberty Mutual, her insurer of 50 years, dropped her. Though she says she has not made a property insurance claim in five decades, Citizens raised her rates by 50%.
“Stories like Temple’s are echoed by thousands of policyholders who say they’ve seen costs suddenly spike despite never making a claim or experiencing hurricane damage. Under a sweeping re-inspection program, Citizens has sent inspectors to 158,000 buildings in the last two years. As inspectors check roofs and windows, more often than not, they find something that translates into higher premiums, with an average increase of nearly $900. Another 209,000 inspections are scheduled for this year, and Citizens recently proposed a new $50,000 contract for a new study of wind mitigation credits. The study is likely to lead to premium increases, and Citizens board member John Rollins indicated the return on investment for the study would be measured in millions of dollars.
“Sean Shaw, founder of Policyholders of Florida, said that money will ultimately come out of the pocket of hard-working homeowners, who are paying more for less coverage. “People are at such a disadvantage when Citizens does this,” he said. “It’s like they’re treating people like data points.”
“Despite recent moves to reduce wind mitigation credits and raise rates on sinkhole coverage, Citizens has not experienced any significant reduction in size (the insurer swelled from 800,000 policies in 2007 to more than 1.4 million today). Citizens’ depopulation push will soon go into overdrive, with several hard-charging coverage changes set to kick in over the next 18 months. Ideally, Citizens would like to shrink by 45% to 794,308 policies in the very near future.
“With private insurers still wary about the Florida market, it’s not clear where 678,000 current policyholders will go for coverage when contracts end with Citizens. Citizens’ theory is that its artificially low rates discourage private insurers by making the market uncompetitive. It’s banking on more private insurers picking up the slack as it depopulates.
“Here are a few of the changes that begin Tuesday for Citizens policyholders:
• Homeowners who need to join Citizens will have to submit written proof that there is no private insurer able to provide affordable coverage for their home.
• Citizens will no longer offer Builders’ risk insurance for new homes.
• Coverage for carports, screened enclosures and fences will end for renewal policies.
• The personal liability coverage limit will decline from $300,000 to $100,000.
“The push to depopulate is set to intensify in the months ahead, and those with Citizens coverage can expect to be impacted by at least one of several policy changes being proposed. Among them:
• Uncapping rates for new policies, causing new policyholders to pay as much as 50% more than existing customers for similar coverage.
• Requiring new electrical and plumbing inspections for older homes.
• Requiring new inspections and likely higher premiums in sinkhole-prone counties.
• Increasing deductibles for “all other perils” coverage.
“Most of the changes are being enacted without the Legislature, which this year declined to pass major property insurance reform. With hurricane season set to begin in a month, Citizens says it must tamp down its level of risk in order to avoid financial calamity for all consumers. While the company has been able to build up a surplus of more than $6 billion during a 6-year streak without a major storm, financial models show that a large hurricane this year could wipe out those funds and other resources. That would lead to assessments for Citizens’ customers and potentially for all insurance policyholders in the state. That’s why the Citizens board of directors, with the support of Gov. Rick Scott, is trying to attract private insurers back into the market by shrinking Citizens as quickly as possible.
““It is important that Citizens work towards having adequate rates to reduce the likelihood of assessments on all Florida policyholders,” said Ashburn. Some say those private insurers are never coming back, particularly in the state’s high-risk areas where it doesn’t make financial sense to underwrite homes. “We’d all love to see the depopulation of Citizens, but guess what? The private companies are not coming back to this area,” Sen. Mike Fasano, R-New Port Richey, told Citizens’ executives last week. “Please, please, leave the people alone that are struggling.””

Sanibel & Captiva Multiple Listing Service Activity April 27- May 4

 
Sanibel
CONDOS
2 new listings: Sealoft Village #106 2/2 $559K, Compass Point #203 2/2 $599K.
10 price changes: Lighthouse Point #217 3/2 now $339K, Blind Pass #C110 2/2 now $399.9K, Sea Pines #D 3/3 now $469K, Sundial #I103 1/1 now $485K, Sea Pines #E 3/3 now $579K, Pelicans Roost #104 2/2 now $599.8K, Heron at The Sanctuary III #1B 3/2.5 now $615K, Heron at The Sanctuary II #2A 2/2.5 now $619K, Compass Point #181 2/3 now $997K, High Tide #B202 2/2 now $1.447.5M.
7 new sales: Sundial #B207 1/1 listed for $299K, Lighthouse Point #332 2/2 listed for $474K (our listing), Kings Crown #211 3/2 listed for $599K, Sand Pointe #132 2/2 listed for $599K, Tarpon Beach #101 2/2 listed for $619K, Tarpon Beach #104 2/2 listed for $679K, Nutmeg Village #108 2/2 listed for $795K.
11 closed sales: Seashells #29 2/2 $300K, Blind Pass #G201 2/2 $334K, Sundial #B402 1/1 $340K, Sundial #H402 2/2 $430K, Sanibel Arms West #J3 2/2 $400K, Sanibel Arms West #L6 2/2 $425K, Sealoft Village #108 2/2 $483K, Sand Pointe #211 2/2 $559.5K, Oceans Reach #1C1 2/2 $722.6K, Atrium #105 2/2 $945K, Junonia #301 3/2 $1.5M.
 
HOMES
6 new listings: 1649 Sand Castle Rd 3/2.5 half-duplex $415K; 2166 Egret Cir 3/2 $559,555; 740 Durion Ct 3/2 $599K; 673 East Rocks Dr 3/2 $629K; 1230 Par View Dr 3/2.5 $749,999; 919 Almas Ct 3/2.5 $1,199,999.
10 price changes: 1663 Bunting Ln 3/2 now $344K (short sale), 1702 Sand Pebble Way 3/2.5 now $399K, 490 Elizabeth Rd 2/2 now $413K, 940 S Yachtsman Dr 3/2.5 now $569K, 1271 Sand Castle Rd 3/2.5 now $609K, 1339 Par View Dr 3/2 now $667.5K, 1516 Angel Dr 3/2 now $899K, 5427 Osprey Ct 3/3.5 now $1.195M, 660 Anchor Dr 4/4 now $1.925M, 780 Birdie View Pt 5/4.5 now $1,999,999.
7 new sales: 1433 Jamaica Dr 5/4 duplex listed for $439K, 4210 Old Banyan Way 3/2 listed for $595K, 1208 Harbour Cottage Ct 3/3 half-duplex listed for $699K, 862 Beach Rd 3/2 listed for $999K, 1690 Sabal Palm Dr 4/3 listed for $1.595M, 5391 Shearwater Dr 3/3.5 listed for $1.649M, 3864 West Gulf Dr 4/5.5 listed for $2.188M.
6 closed sales: 1430 Sandpiper Cir 3/3 half-duplex $406K, 237 Daniel Dr 3/2 $522K, 2624 Coconut Dr 2/1 $656.7K, 1234 Seagrape Ln 3/2 $679K, 1537 Sand Castle Rd 4/3 $740K, 836 Sand Dollar Dr 3/2/2 $1.025M.
 
LOTS
No new listings.
4 price changes: 9211 Dimmick Dr now $137,555; 1894 Farm Trl now $283,555; 4636 Rue Royale now $659K; 6401 Pine Ave now $699K.
1 new sales: 1120 Olga Ave listed for $299K (our listing).
1 closed sale:  4077 Coquina Dr $215K.
 
Captiva
CONDOS
1 new listing: Gulf Beach Villas #2128 3/2 $895K.
1 price change: Captiva Bay Villas #D 3/3.5 now $2.995M.
No new sales.
1 closed sale: Lands End Village #1610 3/3 $1.8M.
 
HOMES
No new listings.
1 price change: 11490 Dickey Ln 3/2 now $849K.
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 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.

Finishing Up a Busy April on Sanibel & Captiva Islands

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I am back from my week on the Ruby Princess and The SanibelSusan Team is busy – so much for thinking that the few weeks after Easter were going to be slow this year. The report below of the Multiple Listing Service action this week confirms that the islands are active.

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Dave and Lisa spent time yesterday at both our listing on Beach Road, accompanying a showing, and our listing on North Yachtsman Drive, which closed this morning. Posted above are a few photos that they snapped during those trips. Talk about glorious weather. For the past several days, the humidity has been under 40%, days in the low 80’s, and evening temperatures down into the high 50’s. Best April weather that I recall in my 20 years here!

When I attended a closing at Barrier Island Title this morning, the girls there remarked that they are staying late most evenings to stay up with the workload, with most of the incoming contracts being cash and quick closings (our favorite kind).

I just made a call to Island Condo Management for an update on some condominium documents and they said that they also are busy – their busiest April in years. Wow, let’s hope this continues. Maybe the buyers have gotten the word that the tide is turning on Sanibel and Captiva!

Here are a few news items, followed by the MLS report for the week:

75th Sanibel Shell Fair and Show

For those who were just hopping off a cruise ship last weekend – or otherwise busy – if you missed the CBS news segment on Sunday morning about Sanibel shelling, here is a link: http://www.cbsnews.com/video/watch/?id=7406198n&tag=contentMain;contentBody

Piping To Be Replaced in The Dunes Subdivision

I noticed an article in the “Island Sun” that said that Island Water Association, Inc. started working in The Dunes last week to replace the piping in that subdivision. Construction operations will take place on the north side of the subdivision between Albatross Road and The Dunes Clubhouse, starting near the clubhouse. The dates for other streets will be announced as construction progresses. To get more info, call 239-472-1502.

Final Farmer’s Market of the Season This Weekend

Can you believe that it has been four years since two island residents, Jean Baer and Betsy Ventura, brought the first farmer’s market to Sanibel? Offering vegetables, fruit, breads, flowers, plants, meats, seafood, sauces, dips, cheeses, jams, honey, treats, meals, and much more, the number of vendors varies each week from 30 to 40, including repeat and new vendors each year. The Sanibel Farmer’s Market operates each Sunday from 8 a.m. to 1 p.m., from November to April at City Hall on Dunlop Road. The last one for this season is this weekend. We will miss them and already are looking forward to their return in November.

SanibelSusan’s Golden Rules for Dealing With Technology

Here's our office

As an old dog, always willing to learn a few news tricks, I try to embrace technology so that my business stays ahead of the curve. Thank goodness son Dave is a computer guru. He usually kicks and screams when we suggest social media; while the girls in the office, Elise, Lisa, and I enjoy the connectivity that this new technology brings. The changes that keep us connected today and improve our communication – from iPhones, iPads, texting, and the many features of Facebook, LinkedIn – remind me there are some rules that should not be forgotten. A recent article posted in the YPN (Young Professionals Network) Lounge at the National Association of Realtors® site concurs. (I like to read about what those Young Professionals are saying so I stay young too!)

Here are the three golden technology rules you can always count on from The SanibelSusan Team.

1) The client we are with is always our top priority. We do not use technology when we are in clients’ presence unless it is for them. We respect our clients, so you will not find The SanibelSusan Team reading messages, posting e-mails or texts, or handling routine business calls while we are with you.

2) We use technology for its intended use, not to do our dirty work. When a verbal communication can best relay a message, you will get a “real” phone call. When the written word is necessary to record an event, you will get that.

3) Grammar and spelling are important. My team knows that this is one of my pet peeves. They call me the boss with the “red pen”. If we think the correct use of hyphens is important, imagine how important it is that we “dot the i’s and cross the t’s” correctly in our contract work for you. Technology may provide us with better connectivity, but we will remain details-oriented.

Embracing technology is essential to today’s real estate arena; however, basic good manners and professionalism always will prevail when you work with The SanibelSusan Team.

Tarpon Tournament Update

The deadline to register for the “Ding” Darling & Doc Ford’s Tarpon Tournament is May 1st and 35 teams have already signed up. The tournament takes place on May 4th and 5th at Doc Ford’s Rum Bar & Grille on Fort Myers Beach and will benefit wildlife research and education at the refuge and will also benefit tarpon by rewarding participating anglers who perform DNA scrubs on their catches for genetics research before releasing them.

Mina Hemingway, former Sanibel resident, avid fisher, and granddaughter of Ernest Hemingway has joined the tournament. She will be flying in from Bozeman, Montana to fish with Sanibel Island Fishing Club members Rol Campbell (SanibelSusan’s neighbor), Tom Butcher and Charlie Sobczak (island Realtor® and author) aboard Charlie’s boat “Nine Lives”.

Celebrity author Randy Wayne White and TV fishing personalities captains Ozzie Fischer and Ozzie Lessinger also are listed among the teams signed up for the catch-and release tournament. White, a former Sanibel fishing guide, also will preside over a “Kangaroo Court” during the awards ceremony that follows the tournament.

Did you know that this fishing tradition began in 1885 with the first tarpon ever caught on rod-and-reel right here at the “Ding” Darling Refuge in Tarpon Bay? Some islanders have even delayed their return trips to their northland homes, so that they can fish in the tournament this year. Good luck, Bruce!

Interested fishing teams can resister at www.dingdarlingtarpontourney.com or by calling 239-472-1100 ext. 4. 

March Pending Home Sales Rise, Market Recovering

Here is a “positive” press release issued yesterday:

“Pending home sales increased in March and are well above a year ago, another signal the housing market is recovering, according to the NAR (National Association of Realtors®).

The Pending Home Sales Index,* a forward-looking indicator based on contract signings, rose 4.1% to 101.4 in March from an upwardly revised 97.4 in February and is 12.8% above March 2011 when it was 89.9.  The data reflects contracts but not closings.

“The index is now at the highest level since April 2010 when it reached 111.3.

“Lawrence Yun, NAR chief economist, said 2012 is expected to be a year of recovery for housing.  “First quarter sales closings were the highest first quarter sales in five years.  The latest contract signing activity suggests the second quarter will be equally good,” he said. “The housing market has clearly turned the corner.  Rising sales are bringing down inventory and creating much more balanced conditions around the county, which means home prices will be rising in more areas as the year progresses,” Yun said.

The PHSI in the Northeast slipped 0.8% to 78.2 in March but is 21.1% above March 2011.  In the Midwest the index declined 0.9% to 93.3 but is 16.9% higher than a year ago.  Pending home sales in the South rose 5.9% to an index of 114.1 in March and are 10.6% above March 2011.  In the West the index increased 8.7% in March to 108.0 and is 9.0% above a year ago.

“The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1 million members involved in all aspects of the residential and commercial real estate industries.

“*The Pending Home Sales Index is a leading indicator for the housing sector, based on pending sales of existing homes. A sale is listed as pending when the contract has been signed but the transaction has not closed, though the sale usually is finalized within one or two months of signing. The index is based on a large national sample, typically representing about 20% of transactions for existing-home sales.  In developing the model for the index, it was demonstrated that the level of monthly sales-contract activity parallels the level of closed existing-home sales in the following two months. An index of 100 is equal to the average level of contract activity during 2001, which was the first year to be examined as well as the first of five consecutive record years for existing-home sales; it coincides with a level that is historically healthy.

“Information about NAR is available at www.realtor.org. News releases are posted in the website’s “News and Commentary” tab.  Statistical data in this release, as well as other tables and surveys, are posted in the “Research and Statistics” tab of www.realtor.org.

“REALTOR® is a registered collective membership mark which may be used only by real estate professionals who are members of the NATIONAL ASSOCIATION OF REALTORS® and subscribe to its strict Code of Ethics.  Not all real estate agents are REALTORS®.  All REALTORS® are members of NAR.”

Sanibel & Captiva MLS Activity April 20-27

 
Sanibel
CONDOS
4 new listings: Blind Pass #B101 2/2 $449K, Pointe Santo #C24 1/1 $459K, Shell Island Beach Club #7A 2/2 $710K, Seascape #302 3/3.5 $1.349M.
2 price changes: Seawind #A103 2/2.5 now $450K, Sea Pines #D 3/3 now $489K.
3 new sales: Snug Harbor #311 2/2 listed for $459K, Tarpon Beach #104 2/2 listed for $679K, Sundial #T207 2/2 listed for $849K.
5 closed sales: Island Beach Club #320F 2/2 $410K, Sandalfoot #3D1 2/2 $430K, Sandalfoot #4C2 2/2 $455K, Kings Crown #104 2/2 $565K, Gulfside Place #116 3/3 $1.505M.
 
HOMES
4 new listings: 1415 Sandpiper Cir 2/2 half-duplex $329K, 960/964 Palm St 3/3 $379.9K, 1536 Bunting Ln 3/2 $442.5K, 1574 Sand Castle Rd 3/2 $549K.
10 price changes: 966 Fitzhugh St 2/1 now $337K; 1610 Sabal Sands Rd 3/2 now $489.9K; 1339 Par View Dr 3/2 now $670.5K; 4996 Joewood Dr now $760K; 4960 Joewood Dr 4/3 now $769.9K; 1807 Buckthorn Ln 3/2.5 now $779.9K; 4781 Tradewinds Dr 3/2 now $1.695M; 553 Lighthouse Way 4/4 now $1.795M; 1232 Isabel Dr 3/3 now $1,999,999; 568 Lighthouse Way 4/4.5 now $2.4M.
2 new sales: 5230 Caloosa End Ln 4/3 listed for $996K, 2564 Wulfert Rd 5/5 listed for $2.298.5M.
6 closed sales: 555 Chert Ct 3/2 $350K, 525 Lake Murex Cir 3/2.5 $467.5K, 1284 Par View Dr 2/2 $516K, 542 North Yachtsman Dr 2/2 $630K (our listing & sale), 3061 Poinciana Cir 3/2 $650K, 1331 Sand Castle Rd 3/2.5 $725K.
 
LOTS
2 new listings: 412 Tiree Cir $375,555; Island Inn Rd $1,350,555.
1 price change: 568 Lighthouse Way now $1.3M.
No new sales.
2 closed sales:  1594 Century Ct $129.9K, 1299 Par View Dr $187K.
 
Captiva
CONDOS
No new listings or price changes.
4 new sales: Beach Villas #2516 1/1 listed for $449K; Beach Villas #2517 1/1 listed for $499,950; Captiva Shores #5D 2/2 listed for $768.8K; Beach Homes #13 3/3 listed for $2.475M.
2 closed sales: Captiva Shores #6B 2/2 $675K, Lands End Village #1628 3/3 $1.55M.
 
HOMES
No new listings, price changes, or new sales.
1 closed sale: 16185 Captiva Dr 4/4 $1.2M.
 
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.


Spring Things on Sanibel & Captiva Islands

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It is the end of yet another fun-filled seven days at SanibelSusan Realty.

Island Real Estate Happenings

We had good showing activity at our listings again this week, though no offers. I wrote one, but it is a work in progress. You will notice from the Sanibel & Captiva Islands Multiple Listing Service report below that the island price war continues. Over the past seven days, there were 27 Sanibel price reductions, nine new Sanibel listings, and 13 new Sanibel sales, so that, to a degree, is progress. 

March Realtor® Membership Meeting

At our monthly Realtor® Meeting yesterday, Steve Greenstein, Executive Director of CROW (Clinic for the Rehabilitation of Wildlife), updated members on happenings at the clinic. Since CROW began here 44 years ago when a local resident rescued an injured royal tern found on a roadway, it has evolved into the premier facility that it is today. 

With the mission to “save wildlife through compassion, care and education”, CROW operates on a 12.5-acre campus at 3883 Sanibel Captiva Road. Guided by a volunteer board of directors and full- and part-time staff members, more than 250 volunteers support CROW programming, participating in everything from rescue, animal transportation and patient care to visitor education, facilities maintenance, event coordination and administrative duties.

Each year, CROW cares for nearly 5,000 sick, injured and orphaned wildlife patients in its veterinary hospital, which is one of the nations leading rehabilitation facilities for native and migratory animals. The hospital director, Dr. Heather Barron, is one of fewer than 200 nationally-boarded specialists in avian medicine. Her background also includes work as Medical Director for The Cayman Turtle Farm (which has more than 4,000 turtles). What a perfect match she is for our wildlife here.

In addition to treating some 200 different species of birds, mammals, and reptiles annually, CROW operates educational externship and fellowship programs for undergraduate natural sciences and veterinary medicine students. For post-graduate students, their annual internship program offers hands-on experience in clinical care and rehabilitation, as well as rescue and release.

For the public, CROW hosts a diverse array of wildlife presentations, special events and interactive activities on a year-round basis. The 4,800-sq. ft. Healing Winds Visitor Education Center opened in 2009 with interactive educational displays and live webcams that immerse visitors in the patient rehab process and spotlight animals treated by CROW staff, students and volunteers. Here’s a link to their website: www.crowclinic.org

Sanibel Fish House

On the local restaurant scene, the new “Sanibel Fish House” opened this week. It is in the previous location of McT’s which closed some time ago. The building has been renovated top-to-bottom and remodeled in bright tropical Key West-style decor – definitely island casual. Dave and I have had lunch there and can attest that the salads are affordable and good. The dinner menu looks yummy too. The new owners have similar Fish Houses on both Fort Myers Beach and Bonita Beach, so are well versed in seafood. Here’s a link to their website www.thefishhouserestaurants.com.

For Sanibel Bikers

The new pavilion on Periwinkle Way, between Huxter’s Market and She Sells Sea Shells, is nearly complete. The Sanibel Island Bike Club is in the process of creating what will be a Bicycle Visitors Welcome and Information Center there. When complete, the 15′ x 12′ pavilion will have a map showing Sanibel’s bike paths, info on natural areas (courtesy of the Sanibel Captiva Conservation Foundation), details on the site’s history as well as other island locations (courtesy of the Sanibel Museum & Historic Village), a bike rack for parking (donated by Billy’s Bike Rentals), benches (donated by the Lion’s Club); and a water fountain. In addition to these cooperative efforts, the project is being funded by donated materials to support the project.

The idea reportedly originated with local resident, Dick Muench, who owns the land. Some years ago, he offered to donate the site for the building of a gazebo or similar structure, and that bit of generosity eventually prompted the Bike Club to tackle the project, which was significantly bolstered by Sanibel’s former Beautification Committee which closed operations last year, but made a major contribution to Sanibel Bike Club’s “Trails in Motion” fund.

Sanibel was one of the first cities in America to incorporate municipal bike paths within its infrastructure, and it is expected that these will only increase in popularity as new generations of bike riders emerge in the community. The Sanibel Bike Club has been a long advocate for use of those paths – with each bicycle meaning one less car to slow the flow of traffic on Periwinkle.

Martha Stewart Talks About the Sanibel Shell Fair

Sailor's Valentine by Sandy Moran
Note the Nantucket basket

Several days ago on the Martha Stewart TV Show, Martha and Hannah Milman, her Holidays and Crafts Editor, created a beach-inspired paperweight using shells. Hannah attends the Sanibel Shell Show and Fair each year. During the segment, she talked about our island friend and client, Sandy Moran, who creates many of her world-famous sailors’ valentines in the property we sold her here on the island.

This TV segment highlighted some of Sandy’s work as well as other winners from the Artistic Division of the juried 75th Shell Show, as well as other Sanibel shell crafters. The Shell Fair and Show begins the first Wednesday each March. We are already looking forward to the 76th event on March 7, 8, and 9, 2013 at The Sanibel Community House. The video can be found at: www.marthastewart.com/898281/shell-paperweight-craft, while detailed instructions for making the paperweight are at www.marthastewart.com/898099/shell-paperweight

Here’s a link to Sandy’s web site too – with more photos of her sailors’ valentines.

Home Improvement Trends

The following article posted on Florida Realtors® this week is particularly timely for the beginning of spring.

“Continuing uncertainty in the real estate market has homeowners asking a major question as the market warms this spring: Is it smarter to move or to improve?

“Cost is the driving factor behind home improvement projects again this year, and many owners want to choose projects that provide the biggest return on investment. Power Home Remodeling Group, one of the nation’s largest home remodeling companies, empowers homeowners to get the biggest bang for their home-improvement buck this spring, whether updating a home to increase its resale value or infusing the place with some personality to create your dream home.

““Giving your home some added curb appeal with an exterior makeover will automatically boost the resale value of your property,” says Jeff Kaliner of Power Home Remodeling Group, “If you plan to stay put, focus on cost-effective renovations that make your home more comfortable, functional and low maintenance for your family.”

“Cost-effective home improvements
• Energize the exterior. Exterior home improvements are still king when it comes to return on investment this year. Projects like updating siding, window replacement and refreshing entry doors have a dramatic effect on a home’s curb appeal for a relatively low-cost. Seven of the top 10 home improvement projects for 2012 are exterior projects garnering anywhere from 69 to 78% return on investment – the highest of any other projects this year.
• Choose bold and bright finishes. Fiberglass entry and garage doors are a popular alternative to their pricey wooden counterparts in 2012. A fiberglass door is weather resistant, durable and, above all, maintenance free. The material allows owners to achieve the stylish look of an elegant craftsman or rustic design with decorative glass at a fraction of the price. Bright, bold exterior colors are also popular this year. Make curb appeal pop by choosing a shade of tangerine, yellow or deep purple for an entry door.
• Energy efficiency is still supreme. The top green home trend for 2012 is renovating to reduce a home’s heating and cooling costs. Making the most of empty attic space by adding a bedroom, or at least finishing it with insulation, is a way to keep conditioned air from escaping through the roof. Updating the attic is this year’s third most cost-effective home improvement, garnering a 72% return on investment.”

U.S. Makes $25 Billion Profit on Mortgage Securities

An article posted earlier this week on Florida Realtors®, came from washingtonpost.com, Zachary A. Goldfarb:

“The Obama administration announced Monday that taxpayers made $25 billion in profit on a program to keep mortgage interest rates down in the wake of the 2008 meltdown in financial markets.
“Building on efforts that began under President George W. Bush, the Obama administration took a number of steps to keep the mortgage market operating after the real estate market crashed, including providing unlimited financial support to mortgage-finance giants Fannie Mae and Freddie Mac and buying $225 billion in securities backed by mortgage loans.

“The $25 billion profit came from the sale of these mortgage-backed securities and underscores the administration’s success in winding down some of the emergency programs undertaken during the financial crisis. The vast majority of banks that received aid from taxpayers, for instance, have paid back the investments with interest, and the auto industry is continuing to show strength after it was bailed out.

“Although government efforts helped make sure borrowers could continue to get affordable financing to buy homes during the recession, other elements of the administration’s response to the housing crisis have proved less favorable for taxpayers and existing homeowners.

“Fannie and Freddie, for example, are expected to cost taxpayers more than $100 billion in the end, with little hope of that money being paid back. And the administration’s efforts to help homeowners have fallen far short of its expectations. Only $3.44 billion of the $50 billion the administration pledged to spend to help homeowners has been disbursed over the past three years.

“In supporting the housing market, the Treasury Department bought $225 billion of mortgage-backed securities in 2008 and 2009. The purchases channeled money into the mortgage markets, helping to reduce the interest rates of home loans.

“The program came after interest rates on home loans spiked in the wake of the 2008 crisis and doubts arose over whether investors around the world would continue to invest in U.S. mortgages.

“The Federal Reserve launched a much larger and significant program, and now owns about $846 billion in mortgage-backed securities.

“Treasury began to wind down its portfolio in March 2011 after concluding its mortgage purchase program was no long necessary.

““The successful sale of these securities marks another important milestone in the wind down of the government’s emergency financial crisis response efforts,” said Mary Miller, assistant Treasury secretary for financial markets. “This program helped support the housing market during a critical moment for our nation’s economy and delivered a substantial profit for taxpayers,” she said.”

Sanibel & Captiva Multiple Listing Service Activity March 16-23

Sanibel
CONDOS
4 new listings: Colonnades #12 1/1 $169K, Sandpiper Beach #205 2/2 $599K, Sundial #E208 2/2 $849K, Snug Harbor #121 2/2 $1.195M.
9 price changes: Sundial #G107 1/1 now $239.9K, Blind Pass #D205 2/2 now $305.6K (short sale), Mariner Pointe #1092 2/2 now $349.9K, Sanctuary Golf Villages I #3-2 3/3 now $450K, Mariner Pointe #842 2/2 now $485K, Loggerhead Cay #583 2/2 now $549K, Sundial #Q301 2/2 now $595K, Loggerhead Cay #521 2/2 now $595K, Pointe Santo #C32 2/2 now $695K.
10 new sales: Lake Palms #9 2/2.5 listed for $217K (short sale), Coquina Beach #5A 2/2 listed for $304K, Coquina Beach #4G 2/2 listed for $405K, Sundial #H402 2/2 listed for $449K, Sandalfoot #3D1 2/2 listed for $449.9K, Sandalfoot #3C3 2/2 listed for $519K, Mariner Pointe #131 3/2 listed for $549K, Sanibel Surfside #234 2/2 listed for $649K, Atrium #105 2/2 listed for $990K, Sundial #T306 3/2 listed for $995K.
5 closed sales: Sundial #H108 1/1 $235K, Tennisplace #C23 2/1.5 $255K, Nutmeg Village #211 2/2 $503K, Nutmeg Village #310 2/2 $521K, Wedgewood #203 3/3.5 $1.825M.

HOMES
5 new listings: 2066 Wild Lime Dr 2/1 $379K; 1125 Captains Walk St 2/2 $539K; 564 Hideaway Ct 3/2 $649,555; 1731 Venus Dr 3/2 $949K; 2735 Wulfert Rd 4/5 $1.249M.
16 price changes: 458 Lake Murex Cir 3/2 now $409K; 3812 Coquina Dr 3/2 now $425K; 731 Nerita St 3/2 now $499K; 1400 Albatross Rd 3/3 now $525K; 967 Beach Rd 2/2 half-duplex now $555K; 4210 Old Banyan Way 3/2 now $595K; 707 Cardium St 4/3.5 now $599K; 1339 Par View Dr 3/2 now $676.5K; 542 N Yachtsman Dr 2/2 now $699K (our listing); 1308 Tahiti Dr 3/3 now $699K; 1433 Sanderling Cir 4/3 now $799,999; 1244 Par View Dr 4/3 now $888.9K; 1570 Sand Castle Rd 4/3.5 now $899K (short sale); 5427 Osprey Ct 3/3.5 now $1.195M; 1743 Venus Dr 4/3.5 now $1.199M; 1878 Woodring Rd 3/2.5 now $2.39M.
2 new sales: 1755 Jewel Box Dr 3/2 listed for $599K, 4949 Joewood Dr 5/5 listed for $2.775M.
1 closed sale: 598 Kinzie Island Ct 3/3.5 $1.475M.

LOTS
No new listings.
2 price changes: 1450 Tahiti Dr now $249,555; Lot 7 West Gulf Dr now $1.45M.
1 new sale: 2251 Starfish Ln listed for $339K.
1 closed sale: 335 East Gulf Dr $237K.

Captiva
CONDOS
No new listings or price changes.
3 new sales: Bayside Villas #4319 3/3 listed for $559K, Seabreeze #1251 3/3 listed for $1.649M, Beach Homes #15 4/3 listed for $1.995M.
No closed sales.

HOMES
No new listings.
2 price changes: 11516 Andy Rosse Ln 6/6 now $2.295M, 16838 Captiva Dr 6/7.5 now $6.25M.
No new sales.
1 closed sale: 15351 Captiva Dr 5/4 $2.4M.

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 Update

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We are in the throes of “high season”. The traffic on Periwinkle Way in front of the office has been “all stop” most afternoons as workers head home off-island and as visitors/snowbirds venture out for early dinners. Lisa, Dave, and I were out showing property several times during the week. We need be sure to plan extra time for island-style traffic jams. Our trick is to take the back roads “West Gulf to Middle Gulf to East Gulf” and hope that Sanibel’s “finest” out directing traffic are moving the vehicles in our favor.

View from our new listing at Pointe Santo de Sanibel

We also received three new listings this week, which in itself is rather unusual for this time of the year. Thanks to a realistic seller, one of those new listings already is under contract. We also have an offer working on another property where we are representing a new buyer.

With the Presidents’ Week visitors arriving tomorrow, rumor has it that island accommodations are near-capacity next week. Hopefully that means even more real estate action in the days to come.

Check out the activity in our islands Multiple Listing Service this week below.  

New Island Eatery

As a fan of Pinocchio’s Ice Cream in the heart of olde Sanibel on the island east-end, I chuckled when I saw the name of their new sister establishment that just opened next door. It is called Geppetto’s Beach Foodies, a market with “grab ‘n go beach cuisine”. Baked fresh daily in their store, Gepetto’s sells croissants, baguettes, soufflés, pastry, and artisan bread, as well as French-pressed coffee, pasta, soups, salads, cheeses, antipasto, and NYC Italian-bakery-style pizza and panini. Yum!

Interest Rates Remain Low

Local banks are producing rate sheets again. When customers ask about financing, I offer several recommendations and call them “the three Dans”. They include Dan Cronin, Vice President and Loan Officer with Sanibel-Captiva Community Bank at 239-210-7100; Dan Krispinsky, Senior Loan Officer with Mutual of Omaha Bank at 239-850-9232; and Dan Royal, Vice President with FineMark National Bank & Trust at 239-461-5961. With interest low, even our typical cash island buyers are considering financing alternatives. Convention and conforming loans for both condos and single-family homes remain under 4%, with ARMs as low as 2.5%. Non-conforming jumbo loans or those greater than $417,000 are low too, with a 30-year fixed with no points at 4.25%.

Rotary Club of Sanibel-Captiva “Arts & Crafts Fair”

Set-ups are on-going this afternoon for the 29th annual Arts & Crafts Fair that is the happening place to be tomorrow and Sunday right across the street from SanibelSusan Realty. We are a long-time advertiser in their program, so generally will get a walk-in or two from folks visiting the fair. Look for more info at www.sanibelartfair.com.

Shellabration 2012

As advertisers in the commemorative edition program for the 75th Anniversary Sanibel Shell Fair & Show, we received a stack of copies yesterday. If you would like one, just stop into the office anytime. The Shellabration 2012 island-wide celebration began today and runs through March 3. Watch the national news tonight for the results of the huge Sanibel Stoop event this morning.

Sanibel & Captiva Multiple Listing Service Activity February 10-17

 
Sanibel
CONDOS
6 new listings: Mariner Pointe #1043 2/2 $299.9K (our listing), Sandpebble #4E 2/2 $369K, Island Beach Club #310A 2/2 $519K, Mariner Pointe #112 2/2 $599K, Pointe Santo #C23 3/2 $649K (our listing), Sundial #T404 2/2 $675K.
12 price changes: Captains Walk #F7 2/1.5 now $227K, Sanibel Arms #C1 2/2 now $408K, Seawind #104 2/2.5 now $488K, Snug Harbor #311 2/2 now $499K, Sunset South #9A 2/2 now $499K, Island Beach Club #P1E 2/2 now $649K, Sundial #T404 2/2 now $669K, Shell Island Beach Club #5B 2/2 now $764K, Pointe Santo #C25 3/2 now $799K, Lantana #202 4/3.5 now $1.798M, Sedgemoor #206 3/3.5 now $2.999.9M.
1 new sale: Pointe Santo #C23 3/2 listed for $649K (our listing).
3 closed sales: Colonnades #C43 1/1 $155K, Sanbel Moorings #321 2/2 $400K, Loggerhead Cay #422 2/2 $380K.
 
HOMES
10 new listings: 555 Leather Fern 2/2 $295K, 966 Greenwood Ct S 3/2.5 half-duplex $324.9K (our listing), 1086 Sand Castle Rd 3/2 $544K, 207 Daniel Dr 3/2 $569K, 1477 Albatross Rd 4/3 $648K, 1309 Par View Dr 3/3 $895K, 862 Beach Rd 3/2 $999K, 2665 West Gulf Dr 3/3 $1.295M, 1249 Par View Dr 4/4.5 $1.595M, 1266 Isabel Dr 3/3 $2.495M.
8 price changes: 2210 Camino Del Mar 3/2 now $539K, 1750 Dixie Beach Blvd 3/2.5 now $549K (short sale), 215 Robinwood Cir 3/2 now $639K, 927 Limpet Dr 3/3 now $674.9K (foreclosure), 1339 Par View Dr 3/2 now $694.5K, 228 Hurricane Ln 3/2.5 now $739K, 2729 Wulfert Rd 4/4.5 now $1.395M, 4949 Joewood Dr 5/5 now $2.775M.
5 new sales: 5745 Pine Tree Dr 2/1 listed for $435K, 1430 Sandpiper Cir 3/3 half-duplex listed for $446,255; 293 Palm Lake 3/2 listed for $479K; 525 Lake Murex Cir 3/2.5 listed for $499K; 1735 Jewel Box Dr 3/2 listed for $800K. 
4 closed sales: 555 Rabbit Rd 3/2 $395K, 913 Kings Crown Dr 4/3 $970K, 6004 White Heron Ln 4/4/2 $1.725M, 5029 Joewood Dr 3/2 $1.824M.
 
LOTS
No new listings.
1 price change: 1326 Junonia St now $279K.
1 new sale: 761 Donax St listed for $189K.
No closed sales.
 
Captiva
CONDOS
1 new listing: Bayside Villas #5132 1/2 $275K.
1 price change: Sunset Beach Villas #2336 2/2 now $749.9K.
No new or closed sales.
 
HOMES
1 new listing: 14981 Binder Dr 2/2 $849K.
1 price change: 28 Urchin Ct 2/2 now $789K.
1 new sale: 15867 Captiva Dr 4/4.5 listed for $3.498M.
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.

 

Until next week, here’s to happy shelling and selling, SanibelSusan

Sanibel Achieves Another #1

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I don’t know about you, but it sure is hard to believe that it is already another Friday. Time sure flies here on sunny Sanibel. We are just finishing up another week of wonderful 80-degree weather, with more of the same expected next week. That Gulf Stream sure is contributing to us having a near-perfect winter so far. Above is a photo that I snapped earlier in the week of Gramma Dot’s Restaurant at the Sanibel Marina. Love the colors!

 Below is one taken this afternoon when I returned to the office and found someone else parked in my usual parking spot. Wonder what their feathered friend is up to? Maybe just as well that I found another spot.

And here is yet another photo, taken overlooking Pine Island Sound & San Carlos Bay on February 1st at sunset. It was about 80 degrees at the time. The weather sure doesn’t get much better than this!

Sanibel sunset "sailors' delight", 2/1/2012

Sanibel School #1 in State

A Fort Myers “News-Press” article this week announced that “The Sanibel School is the best place to get an elementary/middle school education in the state according to Florida’s first-ever school rankings released Monday. The state Department of Education posted its best-to-worst ranking of Florida’s 3,078 public schools, and the Sanibel Island school was the only Lee and Collier County institution to get a top-10 ranking. Sanibel was the top-ranked combination school for elementary and middle school students. The state ranked the schools based on the number of school grade points they received for the 2010-11 school year as part of the state’s school grading formula. For elementary, middle and combination schools, points are earned based solely on the Florida Comprehensive Assessment Test, with points given for the percentages of students scoring at grade level or better on the FCAT or making learning gains…The state is touting the new rankings as an easy-to-read list that lets parents, taxpayers and others know how well their school or district is performing. Last week, the state released a similar ranking for school districts: Lee placed 22nd of the 67 school districts; Collier 33rd….The Sanibel School, which has been an A school for 11 consecutive years, has a 16% free and reduced price lunch rate and a 10% minority rate. Sanibel, which has 375 students, earned high ranking thanks in large part to its sterling FCAT scores and its work with its lowest 25% of learners in reading and math…At the high school level, Fort Myers High was Southwest Florida’s top school….”

Sanibel Brazilian Pepper, Final Zone Pick-Up Scheduled

The following announcement is posted on http://www.mySanibel.com As background, Zone 6 is the last area of the island to be completed in the City’s Brazilian Pepper Eradication Program. Through the program, island property owners are first given an opportunity to remove their pepper voluntarily.

“In coordination with the City of Sanibel’s island-wide Brazilian Pepper Eradication Program and the City’s waste hauler, Veolia, a free curbside pickup for Brazilian pepper debris is scheduled for February 16 and 17 for all properties in Zone 6. Zone 6 includes all properties between Rabbit Road and Jamaica Drive from the gulf to the bay and was designated by City Council as a voluntary removal zone in July 2010. All property owners within Zone 6 wishing to take advantage of this service should plan to have their pepper debris curbside the evening of February 15th prior to pick-up. Unbundled debris (i.e. no bags, string, etc.) should be cut to a reasonable size (less than 6 feet) and placed in organized piles at the curb. Debris should not be located directly under overhead utility lines. Remember, this service is for Brazilian pepper debris only. If other vegetative debris is mixed with pepper, waste management crews will not pick up the pile. This will not change your regularly scheduled pick-up of vegetative waste. This will be the FINAL free Brazilian pepper curbside pickup for Zone 6. Shortly thereafter, Natural Resources will be seeking City Council’s authorization to designate Brazilian pepper removal in Zone 6 as mandatory and will begin Code Enforcement action on all properties with Brazilian pepper remaining. We encourage all Zone 6 residents to act now to take immediate advantage of this cost saving incentive. To learn more about the City’s Brazilian Pepper Eradication Program or to obtain a list of licensed Brazilian pepper removal contractors, please click here or contact Holly Downing in the Natural Resources Department at (239) 472-3700.”

NAR’s Confidence Index Shows Upswing

Here is a positive article that was posted on Florida Realtors® this week. “The National Association of Realtors® conducts a monthly study on Realtors outlooks about the housing market, and the Realtors Confidence Index for single-family home sales in December increased to 31.6 from November’s 30.4. However, it increased 7.1 points in one year – since December 2010 – when it was 24.5. Overall, the Index has shown a slowly improving market outlook.

“The index for townhouses was 18.5 in December down slightly from November’s 18.7. A year earlier, however, it was 12.6. The index for condos also decreased to 14.3 from November’s 15.3, but one year earlier it was only 10.3.

“The index also measured Realtors’ outlooks by region. Overall, the West had the highest outlook at 35.0, but the South – which includes Florida – came in second at 33.3. One year earlier, the South’s index stood at 25.1.

“Overall, 55% of Realtors surveyed expect prices to rise over the next year, an increase from 50% only one month earlier; and 7% of Realtors expect prices to rise 5% or more compared to November’s 6%. On the flip side, 38% of Realtors expect prices to fall, but that’s less than the 43% who said the same thing one month earlier.

“In an analysis, NAR Chief Economist Lawrence Yun said 2012 kicks off with “a significant amount of good news. … Existing home sales in December were up from a year ago. Pending sales – that is, contract signings – were 5% ahead of a year ago. Housing inventory – the number of homes available for sale – has declined (both for existing and newly built homes). Housing affordability continues at record high levels.” Yun says that one major problem still hangs over the housing market, however: Many middle-class buyers have been shut out of the market because they cannot obtain a mortgage. “Loan qualifications have become so strict since 2009 that only borrowers with super-high credit scores and spotless credit history are able to obtain mortgages,” Yun says. According to one-third of the Realtors surveyed, access to credit was the most important factor limiting clients’ ability to buy a home.”

The Minimum Credit Score

In keeping with the above article, a local lender recently sent an e-mail to Realtors clarifying what their bank requires for a credit score for a home loan. It said: “The minimum credit score we require is a 640 for most of our programs where the loan amounts are under $417,000. Each applicant has 3 scores:  Equifax, Experian, and Trans Union. We take the middle credit score of each borrower. Then borrower’s lower middle score is the score an underwriter uses to both underwrite and price a loan.”

Baby Boomers Geared Up To Move

Interesting statistics were posted in the below article that I read this morning on Florida Realtors®. I hope this means “Sanibel, here they come”.

 “Where will baby boomers go to retire? A new survey conducted by Mason-Dixon Polling & Research for the Consumer Federation of the Southeast finds one in three could move out of their home state in search of low taxes, low housing costs, pleasant climates and quality health care. They also want diverse recreational activities, supportive senior services, arts and cultural opportunities, nearby beaches and access to education.

“The baby boom generation has 78 million members, and the first wave – those born in 1946 – reach the full age for Social Security retirement benefits this year. According to the survey, a full third of baby boomers are open to moving across state lines to find the assets they are looking for, including a mid-size town that welcomes a diverse population. “According to this survey, substantial numbers (of baby boomers) are interested in relocating in retirement,” says Walter Dartland, president of the Consumer Federation of the Southeast. “The decisions they make about where they will retire will have a huge impact not only on their families’ finances but on the communities to which they move.”

“Attracting even a small percentage of boomers can significantly impact a community. If just 0.3% move to a single area, it adds an estimated 1 billion per year in new economic income through jobs and new business. “This important survey, one of the most extensive of its kind in a decade, underscores the tremendous contribution that Americans aged 50 and older can offer to communities wherever they choose to live,” says Jeff Johnson, AARP Florida’s interim state director. “AARP Florida believes this research will help inform the efforts of many communities to better equip themselves to address issues important to a 50-plus population.””

Sanibel Real Estate Activity This Week

Our SanibelSusan listings had reasonable showing activity this week. We had a nice condo listing go under contract last weekend too. That makes five sales so far in 2012 for SanibelSusan. Not bad for five weeks into the year.

In the general condo market, Sanibel is not gaining much ground. There are 260 units for sale. This week, there were 5 new listings posted, 5 price reductions, 5 new sales, and 3 closed sales. At the current sale rate, that equates to nearly two years of inventory.

Sanibel homes continue to move a little better. With 7 new listings, 14 price reductions, 5 new sales, and 5 closed sales this week, inventory is dwindling a tad. About 15 months of inventory remain.

It was good to see some Sanibel lot activity this week too. There were 2 new sales and a price reduction this week. 103 lots remain on the market which is from two to five years work of inventory depending on how you look at it. That’s a tough market to predict.

Sanibel & Captiva Multiple Listing Service Activity January 27 – February 3

Sanibel
CONDOS
5 new listings: White Caps South #2 1/1 $474.9K, Sunset South #6B 2/2 $499K, Tarpon Beach #308 2/2 $635K, Sundial #A408 2/2 $749K, Bougainvillea #4 3/3 $1.295M (house on condo grounds).
5 price changes: Blind Pass #E102 2/2 now $419.9K, Sunset South #9D 2/2 now $489K, Sandalfoot #3C3 2/2 now $519K, Snug Harbor #311 2/2 now $569K, Kimball Lodge #304 2/2 now $629K.
5 new sales: Seashells #20 2/2 listed for $349K (our listing), Donax Village #18 2/2 listed for $369K, Sanibel Moorings #321 2/2 listed for $415K, Loggerhead Cay #481 2/2 listed for $425K, Gulfside Place #116 3/3 listed for $1.895M.
3 closed sales: Sanibel Moorings #1512 2/2 $392.5K, Clam Shell #C 2/2 $685K, Gulfside Place #318 2/2 $892.5K.
 
HOMES
7 new listings: 1120 Junonia St 3/2 $629K, 4775 Rue Helene 4/3 $729.9K, 5427 Osprey Ct 3/3.5 $1.272M, 1102 Harbour Cottage Ct 3/2 $1.429M, 2429 Wulfert Rd 4/4.5 $1.495M, 1290 Bay Dr 3/2 $1.595M, 842 Limpet Dr 3/3.5 $1.795M.
14 price changes: 984 Sand Castle Rd 4/3.5 now $353K, 458 Lake Murex Cir 3/2 now $419K, 6467 Pine Ave 3/3 now $495K, 5740 SanCap Rd 2/2 now $499K, 731 Nerita St 3/2 now $519K, 9440 Begonia Ct 3/2 now $530K, 955 S Yachtsman Dr 3/2 now $595K, 1750 Dixie Beach Blvd 3/2.5 now $599K (short sale), 1233 Middle Gulf Dr 3/2 now $679.9K, 542 N Yachtsman Dr 2/2 now $749K (our listing), 9470 Balsa Ct 3/2 now $794K, 4041 Coquina Dr 3/3 now $949K, 228 Violet Dr 4/2/2 now $1.395M, 2118 Starfish Ln 4/5 now $1.994.9M.
5 new sales: 848 Rabbit Rd 3/2 listed for $295K (short sale), 1427 Sandpiper Cir 2/2 half-duplex listed for $339K, 994 Whelk Dr 2/2 listed for $589K, 1290 Par View Dr 4/2 listed for $649K, 244 Daniel Dr 3/3 listed for $799K.
6 closed sales: 766 Donax St 2/2 duplex $275K, 1800 Ardsley Way 3/2 $534.5K, 244 Christofer Ct 3/3 $575K, 450 Sea Walk Ct 4/3 $600K, 1538 Royal Poinciana Cir 3/3 $600K (short sale), 411 Lighthouse Way 4/3 $1.25M.
 
LOTS
No new listings.
1 price change: 2988/2993 Wulfert Rd now $949K.
2 new sales: 847 Casa Ybel Rd listed for $164,555, 513 Sea Walk Ct listed for $325K.
No closed sales.
 
Captiva
CONDOS
1 new listing: Bayside Villas #5210 1/2 $299K.
1 price change: Marina Villas #603 2/2 now $525K.
No new sales.
1 closed sale: Lands End Village #1651 2/2 $881.5K.
 
HOMES
1 new listing: 11530 Paige Ct 4/4.5 $3.995M.
2 price changes: 14980 Binder Dr 3/3 now $1.465M, 1 Sunset Captiva 2/2.5 now $1.595M.
1 new sale: 941 South Seas Plantation Rd 3/3.5 listed for $4.995M.
2 closed sales: 11531 Andy Rosse Ln 4/4 $1.3M, 11522 Andy Rosse Ln 4/4.5 (foreclosure) $1.96M.
 
LOTS
No new listings.
2 price changes: 11535 Murmond Ln now $649K, 15295 Captiva Dr now $649K.
No new or 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 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.

 

Sending good Super Bowl wishes your way, SanibelSusan

Resort & 2nd Home Real Estate

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Busy Friday on Sanibel Island

Today, it has been a little overcast with a slight drizzle, so the phones, shopping centers, and roadways have been busy. Always happens on a non-beach day – or maybe it came from the announcement last week that Frommer rated the islands as his favorite 2012 vacation destination for 2012.

Nice to have some rain though, the local weatherman reported last night, that southwest Florida has only had 1/100th of an inch all year. We need more!

Resort and Second Home Real Estate Market

As follow-up to SanibelSusan’s attendance earlier this month at the Florida Realtors® Mid-Year Business Meetings, I read an interesting article posted by a colleague also involved in the resort and second home market. It was written last fall by George R. Harvey, Jr., 2011 Vice Chair of the National Association of Realtors® Resort and Second Home Real Estate Committee and owner of The Harvey Team brokerage in Telluride, CO. It is amazing how many similarities our vacation market businesses have. Titled “I Don’t Have to Sell“, it says:

“Quite often when I go on a listing presentation, the seller tells me at the end of the presentation, “Well, I really don’t have to sell”.  This is after giving them a thorough market analysis, showing them how many properties compete with their property and how many sales have happened in the last 12 to 15 months in their category.  Sometimes I’ll take them out to look at several of the most similar properties to their property in order to give them an idea of what their competition is.  Many times, of course, they say, “My property is better.”  As you might guess, most sellers take that position.  When I give the seller the market analysis, the same exact analysis that every buyer/broker is going to give their buyers and that seller says, “I really don’t have to sell,” the first question that enters my mind is, “So why are you putting your property on the market?”  It takes a terrific amount of effort on the listing broker’s part for showing appointments, marketing materials, and advertising expense to have a successful sale.  And then the seller is going to say, “If I can get my price I might sell my house.”  Let me translate what that means.  If we get a really wealthy person that will pay cash, close quickly, doesn’t do any market research, and is really stupid, and will just pay whatever the asking price is, I’ll sell my house.  What an incredible burden this creates for the listing agent and a setup for disappointment for all parties engaged. 

“One of the biggest problems that we have in the Telluride market as well as other markets in the resort and second home niche is sellers still pricing to the peak of 2006, ’07, and ‘08 markets. 

“Buyers in general are well informed and have done their homework on the internet and always ask for all the market comps.  Sellers often ​say, “Well my property is special or unique or here’s why I bought it”.  All those wonderful things are good points for potential buyers in the future, but every buyer has their own list of dreams and desires and they’re all watching Bloomberg. 

​”Not only does a property in this market have to be priced competitively, but it needs to be one or two best values in its market category to even get on the show list.  It also has to be in great condition, because buyers are now looking for every flaw possible and are making objections for the smallest of items.  The end result for sellers that don’t price to the market is following the market all the way down and always being just behind the selling price range rather than just in front of it where they should be.  If you are a property owner in a resort or second home market and truly want to sell, ask your listing broker to do a very thorough market analysis and what it will take to be the first one or two properties shown in that market niche.  It will greatly improve your odds of making a sale and won’t waste your time and your listing agent’s.”

Selling a Rented Property Can Pose Challenges

SanibelSusan Realty recently listed and successfully quickly sold a home that had a long-time annual tenant. More often than not this scenario comes with some objections from the renter, so I was intrigued to read an article posted this week on Florida Realtors® about the subject:

“Some homeowners turned into reluctant landlords and rented out their homes to earn extra income while the housing market was sluggish. But now some of these homeowners are ready to sell. However, real estate agents often caution clients that are trying to sell a home when a tenant still lives there can be tricky since many renters – who have no financial stake in the matter – aren’t always so eager to help market a home and keep it tidy and neat on their landlord’s behalf.

“Landlords should make a point to clearly communicate their intentions to sell, and not “sneak” the house on the market without telling the tenants first, real estate professionals say. Landlords might want to offer a concession on the rent to tenants in exchange for them keeping the home in clean, good condition while it’s on the market – such as 10% off each month’s rent while it’s on the market. But be sure to communicate expectations for cleanliness, such as keeping the dishes out of the sink and making the bed. Experts also suggest setting established hours for showing the property to make it easier on the tenant.”

Our recent island sale included first having the seller advise the tenant that the property was going to be sold. Then, I met with the renter to go through the property to find out any kinks, non-working items, and to inquire about their favorite points about the property. I also asked about them purchasing it. Then I worked out a cooperative agreement for when the property could be photographed for posting on the internet to ensure that prospective buyers and their Realtors® would “see” the inside before making showing appointments. The seller agreed to a small rent reduction during the period that the property would be on the market, while I offered to only make showing requests only for pre-qualified buyers and with 24 hours notice. It worked out well.

With seasonal rental property, particularly those with tenants here for only their short week-long annual vacation, the process is not always so smooth. Many rental organizations only permit showings during tenant-turnovers which sometimes can get tricky since that also may be the day that the prospective buyer is leaving town. Other organizations do not want showings when a unit is being cleaned. In “season” that can be that short window on a Saturday between a late morning check-out and a mid-afternoon check-in. Makes an island Realtor®’s job interesting.

With our listings, we always try to determine if a buyer is serious before even considering bothering a tenant. We query the requesting Realtor® with such questions as: Could they instead look on the next turn-over day? Have they seen the interior photos and streaming video? Have they been to the complex? Walked the grounds? Do they realize that it has (special or limiting features)? Do they need rental income? Then once we have determined that the request is valid, we do our darndest to get them in.

It may involve coordinating with a rental office if they require that they make all tenant contacts – or sweet-talking a tenant – and sometimes offering an incentive like a free meal so that they are compensated for their inconvenience. It too often is a delicate conversation to convince an otherwise uncooperative renter that they are helping you by allowing a viewing during their Sanibel vacation.

After 20 years of it, The SanibelSusan Team usually gets the AOK. Elise, our Listing Coordinator, is a pro at it. She is honest, gives the tenant the option of being there but suggests that they are not, asks showing agents to always leave their business card so the tenant knows the showing is over, and profusely thanks renters for their consideration. We know that happy tenants can bring us business!

Real Estate Activity This Week

Not much was announced yesterday at our Sanibel & Captiva Islands Realtor Caravan Meeting, mostly more price reductions. Not so surprising with all the activity reported the week before. One of the island rental managers told me today that their bookings for February and March are now up 40% where they were last year at this time. It sounds like we will have a busy couple of months coming up. The SanibelSusan Team is ready.

Sanibel & Captiva Multiple Listing Service Activity January 20-27

Sanibel
CONDOS
4 new listings: Blind Pass #A105 2/2 $420K, Kimball Lodge #263 1/1.5 $547K, Pelican’s Roost 2/2 $699.8K, Compass Point #181 2/2 $1.187M.
3 price changes: Captains Walk #F7 2/1.5 now $228K, Sanibel Moorings #142 1/1 now $419K, Nutmeg Village #211 2/2 now $539K.
3 new sales: Ibis at The Sanctuary #301 2/2 listed for $399.9K, Nutmeg Village #310 2/2 listed for $549.9K, Wedgewood #102 3/3.5 listed for $2.295M.
2 closed sales: Spanish Cay #D6 2/2 $315K, Sanibel Arms West #I8 2/2 $427K.
 
HOMES
4 new listings: 9106 Mockingbird Ln 2/2 $499K, 775 Limpet Dr 4/3 $1.849M, 505 Kinzie Island Ct 5/4.5 $2.295M, 5063 Joewood Dr 4/4.5 $3.395M.
3 price changes: 2130 Sunset Cir 3/2 now $539K, 237 Daniel Dr 3/2 now $550K, 1755 Jewel Box Dr 3/2 now $599K.
3 new sales: 555 Rabbit Rd 3/2 listed for $415K, 3940 Coquina Dr 3/2 listed for $475K, 731 Nerita St 3/2 listed for $529K.
4 closed sales: 9248 Belding Dr 3/2 $235K, 1133 Sand Castle Rd 3/2 $442.5K, 947 Lindgren Blvd 3/2 $665K, 411 Lighthouse Way 4/3 $1.25M.
 
LOTS
No new listings.
1 price change:  4077 Coquina Dr now $209K.
1 new sale: 4407 West Gulf Dr listed for $1.85M.
No closed sales.
 
Captiva
CONDOS
No new listings.
2 price changes: Captiva Shores #6B 2/2 now $739.9K, Beach Homes #32 3/2.5 now $1.795M.
No new sales.
1 closed sale: Sunset Beach Villas #2224 2/2 $550K.
 
HOMES
1 new listing: 11551 Paige 5/6.5 $4.998M.
1 price change: 15009 Binder Dr 4/5.5 now $3.749M.
1 new sale: 11522 Andy Rosse Ln 4/4 listed for $2.275M.
No closed sales.
 
LOTS
1 new listing: 11517 Wightman Ln $719K.
No price changes, new or 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 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.

 

Happy weekend wishes from SanibelSusan

Plenty of Real Estate Action This Week on Sanibel Island

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Photo courtesy of Jim Anderson, JMA Photography

Good news with several gulf-front high-end Sanibel sales announced at our Sanibel and Captiva Islands Association of Realtors Caravan meeting yesterday. We finally are “in season” with a noticeable increase in real estate activity. Now we begin dealing with the obstacles of selling real estate when the islands are busy: i.e. making appointments and convincing renters to allow showings when properties are occupied, competing with the weather when it is a beautiful day (and prospective buyers are out having fun rather than looking at real estate), jockeying for keys with other Realtors®, and the like. Makes the job fun! Today, we have bright blue sunny skies with temps expected to reach 79 degrees, followed by the low 80’s every day right into next week. Truly a terrific time to be here, looking at property, and usually when properties show best!

Florida Realtors® Posts Housing Market Indicators

As someone who reads nearly every real estate article that I can get my hands on, I have found it especially useful to watch the statistics that Florida Realtors® posts on line every week. These are not specific to the islands but the overall trend has been good. 

Florida existing home sales: (month-to-previous-year comparison) +11%

Florida existing condo sales: (month-to-previous-year comparison) +2%

Florida existing home median price: $130,100

Florida existing condo median price: $86,700

National existing home sales: (month-to-previous-month comparison; all housing types) +4%

National existing home median price: $164,200

National (Freddie Mac) mortgage rate: (all housing types) 3.89%

The SCCF Signs Are Clean

Here are a couple of photos taken yesterday of Dave and Lisa when they represented The SanibelSusan Team in helping perform a community service chore. Thanks to our islands Realtor® Association, all of the Sanibel-Captiva Conservation Foundation (SCCF) signs, which designate the many island conservation areas, are now spiffed up.

Dave and Lisa were tasked to cleaned both the main SCCF entrance sign on Sanibel-Captiva Road and the nearby Habitat Management sign. Nice job!

The plan is for specific Realtors to adopt individual signs so that they will attend to their clearing year-round so that they will always be sparkling. Yet another good cooperative effort that makes island ambience so special. Sanibel and Captiva residents, visitors, and business folks are known for being down-to-earth and helping-each-other. Love that community spirit!

If You Are Lucky Enough to Be Here

Be sure to click the “upcoming events” tab above for the schedule of island happenings. There are many new events this year. SCCF, BIG ARTS, CROW, and others have expanded their programs. Almost makes a girl wish that she wasn’t working; but there are plenty of evening events too.  Community chorus is back in full swing and practicing hard for our upcoming spring concert March 22. There already is talk that it will be a sell-out so a second performance is being considered. Tickets go on sale soon.

Sanibel & Captiva Multiple Listing Service Activity January 6-13

Sanibel
CONDOS
5 new listings: Sundial #D305 1/1 $269K (short sale), Heron at The Sanctuary II #3B 2/2.5 $609K, Pine Cove #102 3/2 $879K, Sanctuary Golf Villages #4 3/3 $948K, Pine Cove #104 3/2 $1.35M.
8 price changes: Seashells #26 2/2 now $274K, Beach Road Villa #106 2/2 now $295K, Sanibel Arms West #K3 2/2 now $399K, Sanctuary Golf Villages #3-2 3/3 now $499K, Sand Pointe #211 2/2 now $619K, Pointe Santo #A21 2/2 now $769K, Signal Inn #18 2/2 now $889K, Gulfside Place #319 2/2 now $974K (our listing).
6 new sales: Sanibel Moorings #1512 2/2 listed for $429K, Sanibel Arms West #I8 2/2 listed for $449K, Seawind II #5 2/2.5 listed for $599K, Gulf Beach #207 2/2 listed for $719K, Gulfside Place #318 2/2 listed for $1.1M, Wedgewood #203 3/3.5 listed for $1.95M. 
3 closed sales: Sundial #G206 1/1 $260K; Sand Pointe #133 2/2 $534,285 (short sale); Gulfside Place #104 3/2 $1.129.5M.
 
HOMES
8 new listings: 1430 Sandpiper Cir 2/3 half-duplex $446,225; 1750 Dixie Beach Blvd 3/2.5 $629K (short sale); 1308 Tahiti Dr 3/3 $789K; 667 Anchor Dr 4/3.5 $995K; 960 Victoria Way 3/3 $1.095M; 2279 Troon Ct 3/4 $1.495M; 547 Kinzie Island Ct 5/5.5 $1.775M; 4203 Dingman Dr 4/3 $2.595M.
7 price changes:  293 Palm Lake 3/2 now $479K, 220 Southwinds Dr 2/2 now $499K (our listing), 569 Lighthouse Way 3/3 now $1.05M, 1765 Venus Dr 3/3 now $1.199M, 568 Lighthouse Way 2/2 now $1.4M, 4781 Tradewinds Dr 3/2 now $1.839M, 1918 Woodring Rd 4/4 now $2.799M.
12 new sales: 1133 Sand Castle Rd 3/2 listed for $499K, 5657 SanCap Rd 3/2 listed for $545K, 480 Peachtree Rd 3/3 listed for $549K, 210 Daniel Dr 3/3 listed for $549K (our listing), 947 Lindgren Blvd 3/2 listed for $749K, 1537 Sand Castle Rd 4/3 listed for $774K, 1360 Eagle Run Dr 5/3.5 listed for $900K (short sale), 913 Kings Crown Dr 4/3 listed for $995K, 730 Birdie View Pt 3/2.5 listed for $1.35M, 5029 Joewood Dr 3/2 listed for $1.985M, 5045 Joewood Dr 3/3.5 listed for $2.295M, 3805 West Gulf Dr 4/4.5 listed for $4.495M.
4 closed sales: 683 Emeril Ct 2/2 $440K, 3145 Twin Lakes Ln 3/3 $444K, 1057 Sand Castle Rd 3/2 $625K, 784 Birdie View Pt 4/4 $1.5M.
 
LOTS
No new listings.
1 price change: 1114 Seagrape Ln now $475K.
1 new sale: 2285 Wulfert Rd listed for $139K (short sale).
1 closed sale: 1912 Ibis Ln $225K.
 
Captiva
CONDOS
1 new listing: Lands End Village #1664 3/3 $1.597.9M.
No price changes.
1 new sale: Lands End Village #1651 2/2 listed for $975K.
No closed sales.
 
HOMES
2 new listings: 15879 Captiva Dr 3/3 $2.498M, 15867 Captiva Dr 4/4.5 $3.498M.
1 price change: 16730 Captiva Dr 5/4.5 now $4.95M.
1 new sale: 16205 Captiva Dr 4/4 listed for $1.975M (foreclosure).
2 closed sales:  51 Oster Ct 2/2.4 $685K, 16891 Captiva Dr 3/2 $1.3M.
 
LOTS
No new listings.
2 price changes: 1114 Schefflera Ct now $498K, 13470 Palmflower Ln now $869K.
No new or 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 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.

Until next Friday, here’s hoping your days are as bright as our forecast on sunny Sanibel Island, :-) SanibelSusan

Twas Two Nights Before Christmas at SanibelSusan

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It has been pretty quiet today at SanibelSusan Realty. Elise, Lisa, and Dave are enjoying a long weekend (Monday is a holiday for them too), while I am here hoping for some showing inquiries. We have a couple of offers in the works. Those are always fun for me and hopefully productive.
 

My yard, taken December 22, 2011

The December island weather continues to be delightful. Bright blue sky and temps in the high 70’s low 80’s expected right into next week. The bike paths, beaches, restaurants, shops, and roadways are busy busy. I think it is safe to say that the holiday visitors are arriving.

 
Here are a couple of news items about island animals. They are from a January Sanibel-Captiva Conservation Foundation newsletter article called “Living With New Island Wildlife” by Dee Serage, SCCF Living with Wildlife Educator. Following those is a good summary posted today by Florida Realtor of their top ten stories in 2011.
 

“Coyotes and a Florida Black Bear

“Residents of Sanibel and Captiva work harder than most at living with wildlife. Last winter two new species, coyote and Florida black bear, moved on the islands, roaming the preserved lands as well as island neighborhoods. These newcomers require us to become even more vigilant, making sure our neighbors and visitors don’t intentionally or unintentionally feed any wildlife. Both coyote and black bear can become dumpster divers if we don’t protect them from this horrible fate. Fed wildlife usually ends up dead wildlife. Please make sure garbage for pickup and pet food are not left out overnight.
“To date there is one Florida black bear documented on Sanibel. The City of Sanibel and the State of Florida have been trying unsuccessfully to capture and relocate the bear since last summer. So far the bear continues to shy away from direct human contact as most black bears to, but a recent call from The Sanctuary Golf Club told of the bear pushing a golf course garbage can 30 feet across the green into the mangroves! By e-mail photos, plastic bag, and Tupperware containers, scat samples have made their way to SCCF for identification. Scat samples from Gulf Ridge and outside the Bailey tract have been identified as black bear. One sample was full of bird feathers, others contained palm fruit. Bears are very opportunistic feeders. Last summer the bear raided bee hives on SCCF property that belong to the Curtis family, bears like to eat bees even more than honey. The Curtis Family from Labelle has been keeping bees on Sanibel since 1954. having domesticated bee hives on Sanibel is a way to stop the aggressive Africanized bees from moving in. New queen bees bred for docility are added to the hives often. If aggressive bees move into the hives, they will be bred into docility.
“In November, a coyote was found road-killed on San-Cap Road and soon after two coyotes were photographed together by the Refuge’s wildlife camera. Florida is the last state to have coyotes populate every county, Sanibel may be the last city to have them move in…but coyotes are here to stay and we have a family. Coyotes move and hunt in family units, not packs. They also are opportunistic feeders, and their diet includes fruits. This summer coyotes predated a few sea turtle nests. Raccoons predate nests every year. Plans are being made to protect more nests with screens for the upcoming sea turtle season.
“To learn more about these new island species, please attend the “Coyote and Bear Tales” Program on January 5 or 18, or call Dee at 472-2329.”
 

“Eagles at Gulf Pines

“As many residents have noted, the Gulf Pines eagle nest is gone. The nest was on SCCF land in a snag (a dead tree) that snapped in half and fell over sometime in the early hours of October 18. Since that time, SCCF staffers and many others have been watching the eagle pair closely to see how they cope. Within a week, both eagles were seen flying with nesting materials in their talons and began working on at least two nests, which is not unusual. Field studies have shown that bald eagles often build multiple nests within their territory, with an average of 1.5 nests per territory, and ranging from one nest to five nests. Usually only one next will be used for nesting in any given nesting season. During the Thanksgiving holiday, the new nest at the original site also came down, but as of press time, the pair is on the remaining nest. Eggs were not found at either downed nest.
“To help this eagle pair remain at the Gulf Pines site, SCCF staff with the help of resident eagle expert, Bird Westall, are designing a nesting platform based on examples in the scientific literature. There are several reports of bald eagles successfully raising young in nests on manmade platforms.
“In order to permit his project, SCCF is communicating with the Florida Fish and Wildlife Conservation Commission and the U.S. Fish and Wildlife Service. Both agencies have granted permission to move forward with planning for this platform. LCEC (Lee County Electric Coop) will be providing the 80-foot pole necessary to hold the platform and – unlike osprey platforms – there will be shade for the hottest part of the day. Timing of installation will depend on ground conditions in the area, which remain flooded at the moment.
“Along with the construction of the platform – and at the agencies request – SCCF will be formulating a research project to be associated with the effort. You might wonder if an artificial nest platform is a good idea given that the eagles are working on their own solution for the loss of their nest. Having multiple nests is not usual for bald eagles. In the case of the Gulf Pines eagles, the optimal way forward is to increase the odds of successful nesting by giving them a platform option in addition to the tree test.
“Biologists have shown that an eagle pair will continue to nest in the territory where they have successfully fledged young before. Even if a pair skips a year raising young, they may remain loyal to that site.
“To learn more about island eagles, please attend the eagle program by Bird Westall on Friday, February 10. Feel free to call Dee at 472-2329 with questions and for updates regarding this eagle pair.
 
Florida Realtors Top 10 Stories in 2011
 
1. Once-in-a-generation time to buy. Who’s in?
Most renters want to buy a home: 72% consider homeownership a good financial decision, and 64% believe the time is right, according to the National Association of Realtors® 2011 Housing Pulse survey. Mortgage rates hit a record low of 3.94% this year, homes sold for a fraction of their value five years ago, and excess inventory provided every buyer with a range of options. In some cities, homeownership became cheaper than renting. But job insecurities made buyers nervous to commit. Those who did found it difficult to get financing despite stellar credit scores. As a result, 2011 saw a real estate market with great deals, yet fewer buyers than needed. In 10 years, however, many Americans may look back on 2011 as the best time in a generation to invest in real estate.
2. The economy rebounded, sorta, kinda, a little
The Florida economy remained sluggish as unemployment rates stayed uncomfortably high and home sales stayed uncomfortably low; but, across the board, the state showed signs of recovery, with almost every economic indicator suggesting brighter days ahead. Home sales edged higher most months; selling prices held their own and, in a few cases, median selling prices rose. Floridians’ consumer confidence also rose toward the end of the year after bobbing around for most of the summer. Employment followed, and while the state has a long way to go to hit “normal,” it reached a 2011 level of “better than last year.”
3. Commercial market leaves “dire” for “not as bad”
Florida investors increasingly want to buy office, retail and industrial properties, says Cynthia Shelton, Florida Realtors’ 2009 president and a director at Colliers International in Orlando. Vacancy rates, while high, have stabilized, along with rental rates. Core assets (essential to businesses) are selling and lenders – including the life insurance companies – are lending again. Banks are more realistic about prices for distressed properties, and 2012 should see the entry of more commercial tenants. “With modest economic growth and job creation, the fundamentals for commercial real estate should gradually improve in the coming year,” adds Lawrence Yun, NAR chief economist.
4. Florida Legislature: We got Amendment 4 and scrapped the cap
Florida Realtors had a number of victories in the 2011 Florida Legislature, but none as important as a constitutional amendment voters will consider in November 2012, and none so hard-fought as a law to “scrap the cap” on Florida’s affordable housing trust funds. Amendment 4, if approved by Florida voters, will create a property tax increase cap of 5%each year on non-homestead real estate, down from the current 10% cap. It will also give some first-time homebuyers a property tax break that decreases over time. In 2012, Florida Realtors will roll out its “Yes on 4” campaign. In the “scrap the cap” victory, the Florida Legislature agreed to allow all doc stamps earmarked for the affordable housing Sadowski Trust Fund to actually go into the fund.
5. Fasten your seatbelts. Property insurance is a bumpy ride.
Lawmakers wrestled with a question that has been around for years: Should property insurance be affordable or available? If affordable, a major storm could bankrupt the state. If widely available, the cost could drive buyers away and hurt current homeowners. Citizens Property Insurance, the state-owned insurer, sits squarely in the middle of the debate since it covers most of the high-risk properties and, should a major storm hit, would force all Floridians to help pay for damages. To attract private insurers to the state and cut down on the number of owners under Citizens, Gov. Scott and lawmakers made changes. Sinkhole coverage became optional and much more expensive. Citizens dropped about 7,500 coastal homes in early December, and policy costs and rules are set to become even stricter in 2012. The uneasy balance between affordable or available insurance shifted a bit closer to the “available” side.
6. Facts at your fingertips: Florida Realtors adds research department
Florida Realtors Industry and Data Analysis Department (IDA) opened for business in June 2011. Designed to provide practical information for association members, Chief Economist Dr. John Tuccillo says the department will help Realtors in Florida deal more effectively with increasingly educated consumers. The services provided by IDA include current analyses of Florida’s real estate market and support for Florida Realtors’ public policy efforts in Tallahassee.
7. HAMP, HARP, TARP do little for at-risk homeowners
Falling home values and risky mortgages caused more Florida owners to face foreclosure. The government created, and modified, a number of programs slated to help owners keep their homes, but most applied only to about half of those in trouble – owners who had mortgages held by Fannie Mae or Freddie Mac. Even then, however the carrots held out by HAMP, HARP, TARP and others didn’t entice lenders that feared principal cuts and long-term changes. The issue led to some strategic defaults – foreclosures where investors could afford to pay but walked away as a financial decision – court backups, and a system that allowed some non-paying owners to live in a home for over two years before authorities finally foreclosed. Analysts expect the problem to improve but continue in 2012.
8. Should we slow the recovery to avoid another crisis?
U.S. regulators have conflicting goals: Speed the recovery but, at the same time, take steps to make sure it never happens again. Unfortunately, it hasn’t figured out how to do both. While the federal government has tried to spark home sales through a number of programs (see No. 7 above), it has also created obstacles to homeownership by boosting mortgage rules, tightening appraisal standards and restricting the amount homeowners can deduct from federal taxes. A key concern of Realtors heading into 2012 is the qualified residential mortgage (QRM) rule – a minimum standard that mortgage loans must meet before Fannie Mae or Freddie Mac will consider buying them. Some lawmakers have suggested a 20% down-payment, a high standard that will force many buyers to wait years before they can afford homeownership. The discussion will continue in 2012.
9. Social networking goes from ‘cutting edge’ to ‘must do’
New technology no longer surprises Realtors, who have been inundated with “cutting edge solutions” that now allow them to post videos, track complete transactions stored in a “cloud,” sign contracts without actually signing anything and politely ask their phone to look up information. Social networking was once the realm of early-adopters, and Realtors sold it to clients as “look what I can do for you.” Now, Facebook, Twitter, YouTube, Goggle+ (new in 2011) and other social networking sites are standard in the real estate business. 10. 2011 Realtors are different from 2005 Realtors
The skills needed to sell a house have changed. Realtors spend a lot more time talking to banks, trying to find out what’s happening with a client’s short sale; asking what paperwork they needed to file or re-file; and understanding new laws that oversee what they can do – and can’t do – when working with short-sale sellers. Realtors learned to accept disappointment – sales that fell apart at the last minute; appraisals that came in lower than hoped; and clients who wanted a bargain below any reasonable expectations.
 

This is the Sanibel & Captiva MLS Activity Posted from Dec 16-23:

Sanibel
CONDOS
10 new listings: Donax Village #18 2/2 $369K; Blind Pass #G102 2/2 $389K; Blind Pass #E207 2/2.5 $399K; Sanibel Moorings #321 2/2 $415K; Sanibel Arms West #I8 2/2 $449K; Mariner Pointe #142 2/2 $459K; Sanibel Inn #3534 2/2 $495K; Sandalfoot #4A3 2/2 $579K; Lighthouse Point #125 2/2 $599,995; Gulfside Place #117 2/2 $986K.
7 price changes: Sundial #G206 1/1 now $279.9K, Sundial #I301 1/1 now $490K, Tarpon Beach #201 2/2 now $649K, Island Beach Club #P1E 2/2 now $674.5K, Gulf Beach #207 2/2 now $719K, Oceans Reach #2D2 2/2 now $799K, Sundial #L305 2/2 now $899K. 
2 new sales: Mariner Pointe #1082 2/2 listed for $298.5K, Sedgemoor #203 3/3.5 listed for $2.29M.
4 closed sales: Sanibel Arms #E6 1/1 $213,143; Sundial #D203 1/1 $345K; Pelicans Roost #302 2/2 $740K; Sundial #E201 2/2 $790K.
 
HOMES
8 new listings: 1427 Sandpiper Cir 2/2 half-duplex $339K, 1331 Sand Castle Rd 3/2.5 $749K, 970 East Gulf Dr 3/4.5 $763K (short sale), 1735 Jewel Box Dr 3/2 $800K, 550 N Yachtsman Dr 3/2 $959K, 598 Kinzie Island Ct 3/3.5 $1.595M, 2981 Wulfert Rd 4/4.5 $2.199M, 3911 West Gulf Dr 5/5.5 $4.8M.
4 price changes: 1208 Harbour Cottage Ct 3/3 half-duplex now $699K, 765 Conch Ct 7/4 now $859K, 4960 Joewood Dr 4/3 now $899.9K, 1360 Eagle Run Dr 5/3.5 now $940K (short sale).
3 new sales: 966 Fitzhugh 2/1 listed for $364K,1929 Sanibel Bayous Rd 4/3 listed for $449K, 3145 Twin Lakes Ln 3/3 listed for $479,974.
6 closed sales: 978 Greenwood Ct S 3/2.5 half-duplex $340K, 436 Glory Cir 3/3 $535K, 987 Black Skimmer Way 2/2 $540K, 4215 Gulf Pines Dr 5/3.5 $542.5K, 4714 Rue Belle Mer 3/2 $590K, 1287 Par View 3/2 $759K.
 
LOTS
3 new listings: 5750 San-Cap Rd $289K, 2475 Tropical Way Ct $499K, 1540 San Carlos Bay Dr $1.495M.
2 price changes: 4077 Coquina Dr now $225K, 2988 Wulfert Rd now $429K.
No new sales.
1 closed sale:  2355 Wulfert Rd $154K.
 
Captiva
CONDOS
2 new listings: Bayside Villas #118 1/2 $280K, Captiva Shores #5D 2/2 $768.5K.
No price changes.
1 new sale: Beach Villas #2628 2/2 listed for $699K.
No closed sales.
 
HOMES
1 new listing: 11515 Murmond Ln 2/3 $1.749M.
1 price change: 4 Sunset Captiva Ln 3/3 now $2.399M.
No new sales.
1 closed sale: 15 Seascape Ct 3/2 $740K.
 
LOTS
1 new listing: 11515 Gore Ln $595K.
No  price changes, new sales, or closings.
 
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.My wreath

Best wishes from Susan & the entire SanibelSusan Team for a very Merry Christmas & Happy New Year!

Summer-Like Weather After Thanksgiving on Sanibel Island

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Here is hoping that everyone had a wonderful Thanksgiving. Today it is just SanibelSusan at the office, enjoying the traffic from the Sanibel Masters Art Fair across the street and playing catch-up. This is the time of the year when we most often find that folks are more involved with their holiday plans than they are with their real estate purchases, so I was pleasantly surprised to receive an offer on one of our listings yesterday. Negotiations are ongoing. We actually had a few other good inquiries this week too. The pictures above are from my travels out showing bay-front homes earlier in the week.

A little scuttlebutt here last weekend was the official posting in one of the local newspapers that Sundial Resort is for sale. No news on the price or conditions of the sale, so we will keep our ear to the ground on that one.

The week’s Sanibel and Captiva Islands Multiple Listing Service activity follows a couple of news items below.

Sanibel Weather

remains delightful. It was 68 degrees when I headed to the office this morning, with a high in the upper 70’s expected both today and right through the weekend. Monday a little rain is forecast, bringing in a cool front. I still get tickled to say that a Florida cool front is when it drops into the low 70’s during the day. That is what the weather is expected to be by mid-week, just in time for 27th year of the Sanibel Luminary next Fri night (12/2). Luminary strollers like wearing scarves and Santa hats, with their shorts and flip flops, so the weather should be perfect for that. Captiva Luminary is next Sat night (12/3). Here’s a link to the Captiva Holiday Village events calendar. The holiday events have already begun!

Weekend Happenings

If you are out and about on the islands this weekend be sure to catch the Sanibel Masters Art Festival on the grounds of the Community House both today and tomorrow (Sat) from 9 a.m. to 5 p.m. The BIG ARTS Community Chorus is singing two mini-concerts from their holiday repertoire at the festival late-morning tomorrow. Plus Katie Gardenia, renown island baker, artist, and former owner of The Bubble Room, will be there autographing her new combo cookbook and coffee table book called “A Bubble Moment”. She will be selling her fabric sculpture and fabric art pieces too. www.KatieGardenia.com

Tomorrow night (Sat), there is a Livingston Taylor Concert at BIG Arts. When I stopped into the BIG ARTS office right behind my office, I heard there still are tickets. Livingston often hangs out at The Bean when he is in town, though I have not spotted him there yet this year. If you are a fan and are here, his concerts always get raves.

Sanibel City Council & Chamber of Commerce Host Resort Redevelopment Workshop

On Tues Nov 29 at 8 a.m., the Chamber in conjunction with the City will host a workshop at the Sanibel Community House to discuss resort redevelopment. The workshop is being held to help explain recent changes to the Land Development Code. As background, shortly after the incorporation of Sanibel in 1974, the Sanibel Plan created a resort housing district. This district included most of the resorts that then existed on the island. In 2010, City Council determined that there was a need to allow for the rehabilitation or reconstruction of these now aging resort housing district buildings. Most of these resort district properties are short-term rentals. Council considered their preservation to be in the interests of residents and businesses. Over a 12-month period, the Sanibel Planning Commission reviewed the Land Development Code in order to identify any necessary changes to enable progress toward these updating objectives. Specific recommendations for changes were developed, discussed in public meetings, and accepted by City Council in June.

HealthPark Medical Center

It is pretty common in the real estate business for those new to the area to ask us about the closest medical facility. In that HealthPark Medical Center, just off-island, recently turned “20”, it seems like a good time to provide an update of what is available close to Sanibel and Captiva Islands. Beginning in the mid-1980’s as a 120-bed satellite hospital for Lee Memorial Health System’s downtown Fort Myers campus, HealthPark evolved initially as a 220-bed medical center with a grand 4-story glass atrium and a location on a 400-acre planned HealthPark Florida campus that would offer services to the south Lee County community. It took four years to design, three to build. To ensure the new hospital’s success and to ease challenges at Lee Memorial downtown, pediatric, obstetrics, and cardiac care services were moved to this new facility. When the Medical Center opened in 1991, with it came a new era of medical care in Southwest Florida, often described as “ten years ahead of its time.” I have always been amazed with the bright cheerful atrium. Some say their initial impression is hotel, not hospital. How many hospitals have a grand piano being played in their lobby? fresh popcorn for visitors? and single-sized rooms equipped for overnight guests?

In 1994 the campus expanded to include The Children’s Hospital of Southwest Florida and an expansion in 2005 added medical surgery and critical care beds, upping the facility’s beds to 368. In 2013, the Center will continue to grow with a 6-story 148-bed children’s hospital which will also free up more adult cardiac beds. Like Children’s Hospital, the HealthPark campus continues to grow. Today, it is 85% built out and home to the Cypress Cove retirement and assisted living community, HealthPark Care Center, Lee Memorial Health Services Outpatient Services, the Ronald McDonald House of Southwest Florida, and other health-related facilities. A 3-story 78-bed private psychiatric hospital is under construction and shops and restaurants are staring to open in a new retail center too. Commuting time from SanibelSusan Realty to the hospital varies depending on the time of day and time of the year – but is under 30 minutes.

Sanibel & Captiva Island Multiple Listing Service Activity November 18-25:

 Sanibel

CONDOS

6 new listings: Captains Walk #A2 1/1 $179K, Sanibel Arms #G2 1/1 $460K, Loggerhead Cay #434 2/2 $625K, Tarpon Beach #104 2/2 $679K, Pelicans Roost #101 2/2 $809K, Signal Inn #18 2/2 $949K.

6 price changes: Tennisplace #C23 2/1.5 now $269.9K, Lighthouse Point #217 3/2 now $392.5K, Lighthouse Point #230 2/2 now $495K, Snug Harbor #311 2/2 now $589K, Kings Crown #211 3/2 now $699K, Pointe Santo #B45 2/2 now $730K.

2 new sales: Sundial #C208 1/1 listed for $298K, Gulfside Place #104 3/2 listed for $1.195M.

No closed sales.

HOMES

5 new listings: 967 Beach Rd 2/2 half-duplex $575K, 1854 Farm Trail 3/2 $625K, 450 Sea Walk Ct 3/3 $649.9K, 5885 PIne Tree Dr 3/2 $699K, 6211 Starling Way 4/4.5 $2.495M.

6 price changes: 490 Old Trail Rd 3/2 now $449K, 1123 Sand Castle Rd 3/2 now $539.9K, 3861 Coquina Dr 3/3 now $749K, 1360 Eagle Run Dr 5/3.5 now $960K, 720 Periwinkle Way 3/35 now $1.497.5M, 1290 Isabel Dr 6/4 now $2.49M (short sale).

3 new sales: 9248 Belding Dr 3/2 listed for $269K, 436 Glory Cir 3/3 listed for $549.9K, 1287 Par View Dr 3/2 listed for $774.9K.

No closed sales.

LOTS

1 new listing: 1594 Century Ct $139.9K.

No price changes or new sales.

1 closed sale: 3001 Poinciana Cir $139K.

Captiva

CONDOS

1 new listing: Marina Villas #807 2/2 $630K.

2 price changes: Tennis Villas #3224 1/1 now $260K, Marina Villas #603 2/2 now $540K.

No new sales.

1 closed sale: Bayside Villas #5330 3/3 $550K.

HOMES

1 new listing: 16891 Captiva Dr 3/2 $1.389M.

3 price changes: 11490 Dickey Ln 3/2 now $875K, 11521 Wightman Ln 4/3 now $1.495M, 15009 Binder Dr 4/5.5 now $3.95M.

No new sales.

1 closed sale: 16891 Captiva Dr 3/2 $1.15M.

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.

Hope you all are enjoying those turkey sandwiches…until next week…SanibelSusan

Florida Real Estate Market Rebounding, Eagles, & Island Action

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It has been back to “quiet” this week on Sanibel and Captiva Islands. Still gorgeous 80-degree weather and still plenty of people in town, but they all seem to be getting ready for the upcoming holidays rather than out looking at real estate. We had only a handful of listings shown and SanibelSusan was only out once showing property. It certainly is not the way we like business to be, but understandable this time of the year.

Good state-wide real estate news was posted on Florida Realtors® web site this morning. Here is that item and a few others, followed by the week’s activity posted in our Sanibel and Captiva Islands Multiple Listing Service.

 Two Real Estate Reports Suggest Florida Rebound

“Two national studies – one from Realtor.com and one from Trulia – suggest that some Florida markets are poised for a real estate rebound. “This is a positive trend for Florida,” says John Tuccillo, Florida Realtors chief economist. “While Trulia and Realtor.com aren’t completely accurate in home prices and sales – mainly because they base their numbers on only homes listed on their website – it’s useful to look at visitor behavior and note the trends. If Trulia says more visitors are doing a home search in the Miami market, for example, it probably follows that Miami is experiencing an upswing in demand.”
“In Realtor.com’s “Top Ten Turnaround Report”, six Florida cities were considered good bets for an upswing in sales. Realtor.com, which is owned by The National Association of Realtors®, says it created a formula to rank a city’s turnaround potential based on recent price appreciation, changes in inventory, median age of inventory, number of Realtor.com searches by visitors and area unemployment. Realtor.com attributes the Florida cities’ success to year-over-year home price increases, reductions in inventory, lower unemployment rates and, in some cases, an upswing in international buyers. Realtor.com’s turnaround list includes:
1. Miami: Ranked No. 1 in the report, Miami hit the top based on “a healthy inventory that is only half the size from a year ago,” a lower foreclosure rate than the national average, and an increase in condo sales.
2.  Orlando: While No. 2, Realtor.com says Orlando had more home searches than any other city when compared to the total number of listings. It also had a significant drop in the number of foreclosures.
3. Fort Myers-Cape Coral: Median prices in Fort Myers-Cape Coral have increased year-over-year, foreclosures are down, inventory is lower and foreign buyers are attracted to the area’s real estate prices.
4. Phoenix-Mesa, Arizona.
5. Fort Lauderdale: Inventory has decreased and prices have increased, says Realtor.com.
6. Sarasota-Bradenton: About one in 10 foreign buyers look in Sarasota-Bradenton for a home, Realtor.com says. Listing prices have increased and inventory has decreased.
7. Lakeland-Winter Haven: According to Realtor.com, the number of distressed sales has decreased significantly and prices have gone up.
8. Boise City, Idaho.
9. Fort Wayne, Indiana.
10. Ann Arbor, Michigan.

“Trulia’s Metro Movers Report – Trulia has debuted a new report that analyzed its home searches. In one study, Trulia looked at the number of people who searched for housing in a city – including renters – and compared it to the number of city residents looking elsewhere for a home. An area with a high number of inbound searches and a low number of outbound searches, Trulia reasons, suggests an increased demand for housing. According to the study, the North Port-Bradenton-Sarasota area had six times more searches by inbound people than outbound people, landing it in the list’s No. 1 position, but four other Florida cities also made the top 10 list:
1. North Port-Bradenton-Sarasota
2. Riverside-San Bernardino-Ontario, California
3. Charleston-North Charleston-Summerville, South Carolina
4. Fort Lauderdale-Pompano Beach-Deerfield Beach
5. Cape Coral-Fort Myers
6. West Palm Beach-Boca Raton-Boynton Beach
7. Fort Worth-Arlington, Texas
8. Oxnard-Thousand Oaks-Ventura, California
9. Las Vegas-Paradise, Nevada
10. Orlando-Kissimmee-Sanford
Trulia also looked at the Chicago and New York City markets to see where residents wanted to move. Three Florida cities ranked in the top 10 for Chicago residents: Tampa-St. Petersburg-Clearwater (No. 4), Cape Coral-Fort Myers (No. 6) and Orlando-Kissimmee-Sanford (No. 10). In New York City, five Florida cities made the list: Miami-Miami-Beach-Kendall (No. 2), Orlando-Kissimmee-Sanford (No. 3), West Palm Beach-Boca Raton-Boynton Beach (No. 5), Fort Lauderdale-Pompano Beach-Deerfield Beach (No. 6) and Tampa-St. Petersburg-Clearwater (No. 7).”

Captiva Views

SanibelSusan sometimes is asked if she lists and sells on Captiva Island too. “Oh, yes.” The above photos were taken earlier this week while I was out on Sanibel’s sister island. They were snapped behind ‘Tween Waters overlooking Roosevelt Channel to Buck Key, near the boat ramp by the marina.

Sanibel Eagles

Heading back to the office, son Dave pointed out this eagle nest just west of the entrance to the communities of Gulf Pines and Gulf Shores. It is a little difficult to see them – particularly in a photo taken from my cell phone from this distance, but there were two “white heads” in the nest – probably the resident eagles. Next time will bring my camera with telephoto.

Lots of Singing

Wow, our BIG ARTS Community chorus sure is getting popular. We usually don’t have our full complement of singers back in town until the first of the year, when we start gearing up for our spring concert. We are about 60-strong now. Here is our holiday singing schedule for those interested.

  • Nov 20, Sun, 7 p.m., during the Thanksgiving Celebration at The Sanibel Community House.
  • Nov 26, Sat, 10:45 a.m. & 11:15 a.m., two outdoor mini-concerts during the 20th Sanibel Masters Arts & Crafts Fair on the grounds of The Sanibel Community House.
  • Dec 2, Fri, during Sanibel Luminary, carolers at both the Sanibel Community House & Bailey’s Shopping Center.
  • Dec 3, Sat, during Captiva Luminary, 6:30-7:15 p.m. on porch at Shirley Allen Gallery, 11528 Andy Rosse Ln.
  • Dec 8, Thurs, 7 p.m., Holiday Concert at BIG ARTS Shein Hall, purchase tickets in advance.

Florida’s 2012 NAR President Outlines Agenda

Florida Realtors® are excited to have Maurice “Moe” Veissi as the new President of our national association. Moe was the President of Florida Realtors® in 2002 and has made many trips to the islands in support of our year-end events and fundraisers. Last week, during the 2011 Realtors® Conference and Expo in Anaheim, CA, Moe shared his perspective and insights into some key issues facing the real estate industry next year. “The National Association of Realtors® (NAR) will not waiver in its commitment to ensure access to homeownership, affordable housing and commercial investment. It’s a difficult time in many ways for real estate; some would go as far to say that homeownership itself is under attack,” said Veissi, broker-owner of Veissi & Associates Inc., in Miami. “With that said, challenging times often present opportunities, and I believe NAR and our Realtor members are ready and able to meet and overcome the obstacles ahead.”
As Realtors gathered in Anaheim, Congress debated whether to reinstate higher conforming loan limits, a change NAR has been promoting. “We’re working on behalf of homebuyers and sellers across the country who have been affected by the reduced loan limits,” said Veissi. “Some have tried to portray higher loan limits as benefiting the wealthy, but the fact is that most affected markets are not high-cost areas. More than 100 counties throughout the Midwest and more than 200 counties in the South have seen loan limits decline by more than $64,000.”
As the Nov 23 deadline for Congress’ Joint Select Committee on Deficit Reduction, or “Super Committee,” approaches, Realtors also stand ready to defend and support the mortgage interest deduction as an important tax benefit of homeownership and an incentive for home sales. “This is another issue that affects hard-working, middle-class Americans,” said Veissi. “Sixty-five percent of families who claim the MID earn less than $100,000 per year.”
Veissi is confident that Realtors will engage and meet the challenges facing the real estate industry during his year as 2012 NAR president. “I believe Realtors are at the heart of the deal – so much so that I’ve made it my theme for the year,” said Veissi. “Homebuyers, sellers and real estate investors rely on Realtors as a primary source for real estate information and guidance. And in today’s climate, Realtors can also be relied upon to fight for, and defend, consumers’ rights and opportunities to buy, sell and own real estate.”

Homeowners’ Monthly Mortgages Down ~40% 

This article was reposted on Florida Realtors® this week (originally from 2011 Information, Inc. and posted on HousingWire Nov 9):

“Improving housing affordability mixed with low mortgage rates means that homeowners are paying a lot less for their monthly mortgage payment than they did just a few years ago. In fact, they’re paying nearly 40% less on their monthly mortgage payment than homeowners paid in 2006. According to Fiserv (Financial Services Technology Solutions), the monthly mortgage payment for a median-priced single-family home today is $700 – a drop of close to 40% from 2006, when it was $1,140. “Housing affordability has improved dramatically because of declines in both prices and mortgage interest rates,” David Stiff, chief economist at Fiserv, said in a statement. “Nationally, purchase mortgage payments now account for only 13% of monthly median family income, the lowest percentage on record (since 1971), and compared to 23% in the first quarter of 2006.”

From the South Florida Water Management District November Newsletter

“Near-record rainfall made District news in recent weeks, as South Florida experienced the fourth-wettest October on record. Through three separate storms, South Florida Water Management District Operations staff moved water to help alleviate local flooding. Intense downpours brought rainfall accumulations of more than 15″ in some locations, temporarily overwhelming swales, roadways and community drainage systems. Slowly but surely, the District’s regional system assimilated this water and moved it into larger bodies, such as Lake Okeechobee. At one point, the 730-square-mile lake was rising more than an inch a day. While the intense rainfall brought its challenges, it also alleviated South Florida’s water shortage. With input from the Water Resources Advisory Commission last week, the District’s Governing Board discussed current water conditions and predictions for the dry season, deciding at its November meeting to rescind all water restrictions. As a cautionary measure as we move into the dry season, which is predicted to have below-normal rainfall this year, the Board also implemented a water shortage warning to maintain an ongoing need for vigilance.”

Sanibel & Captiva MLS Activity November 11-18

Sanibel
CONDOS
6 new listings: Nutmeg Village #106 2/2 $629.9K, Pointe Santo #D24 2/2 $679.9K, Snug Harbor #D 4/2 $699K, Shell Island Beach Club #5B 2/2 $789K, Nutmeg Village #108 2/2 $795K, Shorewood #2C 3/2 $949K.
11 price changes:  Sundial #C201 1/1 now $259K (short sale); Sanibel Moorings #1412 1/1 now $269,962; Sundial #C208 1/1 now $298K; Mariner Pointe #842 2/2 now $499K; Heron at the Sanctuary #1-1A 3/2.5 now $499.9K; Loggerhead Cay #211 2/2 now $519K; Sunset South #9A 2/2 now $544K; Snug Harbor #311 2/2 now $589K; Loggerhead Cay #521 2/2 now $615K; Ferry Landing #1 2/2 now $1.349M; Wedgewood #102 3/3.5 now $2.295M.
2 new sales: Sundial #D203 1/1 listed for $399K, Pelicans Roost #302 2/2 listed for $830K.
2 closed sales: Sundial #G207 1/1 $205K (short sale), Sanibel Moorings #1622 2/2 $325K.
 
HOMES
8 new listings:  535 Piedmont Rd 3/2 $387.5K, 1417 Causey Ct 3/2 $559K, 1350 Tahiti Dr 3/2 $699K, 1263 Par View Dr 5/2.5 $769K, 5743 Baltusrol Ct 3/3/2 $1.549M, 760 Periwinkle Way 3/2.5 $1.649M, 553 Lighthouse Way 4/4 $1.895M, 1878 Woodring Rd 3/2.5 $2.49M.
5 price changes: 1948 Roseate Ln 2/2 now $374.5K, 927 Limpet Dr 3/3 now $729.9K (foreclosure), 4960 Joewood Dr 4/3 now $925K, 1516 Angel Dr 3/2.5 now $998K, 5029 Joewood Dr 3/2 now $1.985M.
2 new sales: 721 Cardium St 2/1 listed for $297.5K, 978 Greenwood Ct S 3/2.5 half-duplex listed for $359.5K.
1 closed sale:  1251 Seagrape Ln 3/3 $1.95M.
 
LOTS
1 new listing:  5737 Baltusrol Ct $329K.
1 price change:  605 Boulder Dr now $270K.
3 new sales: 3001 Poinciana Cir listed for $139K, 2418 Baltusrol Ct listed for $164.9K, 5618 Baltusrol Ct listed for $299K.
No closed sales.
 

Captiva
CONDOS
1 new listing: Lands End Village #1636 3/3 $2.25M.
No price changes.
2 new sales:  Beach Villas #2613 1/1 listed for $450K, Captiva Bay Villas #D 3/3.5 listed for $2.995M.
No closed sales.
 
HOMES
1 new listing: 16838 Captiva Dr 6/7.5 $6.75M.
2 price changes: 11530 Chapin Ln 3/2 now $1.099M, 15867 Captiva Dr 7/7.5 now $6.495M.
3 new sales: 51 Oster Ct 2/2.5 listed for $695K, 15 Seascape Ct 3/2 listed for $749K, 11536 Wightman Ln 3/3 listed for $799K.
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.

 

Best wishes from the entire SanibelSusan Team for a wonderful Thanksgiving.

We’ll be closed Thanksgiving Day but open through the rest of the weekend.

SanibelSusan will post her Friday blog on schedule. :-)