Tag Archives: National Association of Realtors

Sanibel Island Farmers Market Reopens

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These are the hardworking girls from the Sanibel Farmers Market, taken last November, Sherrill Simms, Jean Baer, & Betsy Ventura

It is a partly cloudy Friday here on Sanibel Island, but we are thankful that our temperatures still hover between the low 70s and mid 80s during the day. More good – but sunny – weather is expected right through the weekend. As our phones continued to ring during the week, we heard from many of our friends on the northeastern seaboard, many who remain without electricity after the storms last weekend.

We had an unexpected visitor to our parking lot this week too, luckily he/she decided to park in an unmarked space. 

I was out showing homes and condos yesterday to a couple here for their first visit. It is always fun when someone comes to Florida to find the perfect winter get-away and after searching up and down the entire West Coast, decides that this is the place for them. It is easy to understand why and very satisfying to be their island ambassador.

This morning I completed the 3-hour Grievance and Professional Standards training needed annually to continue as a member of that committee next year. This is the Realtor® group in each association that provides the panel members to evaluate and hear ethics and arbitration cases. We are very lucky on Sanibel and Captiva Islands to have very few complaints – yet another benefit of being a member of a small board in a small geographic area where we have a very cooperative membership.

Gulfside Place entry

Gulfside Place entry

SanibelSusan Realty received a new listing at Gulfside Place this week and just this afternoon, we had another one of our condo listings go under contract. Hopefully this is the beginning of a busy season.

Gulfside Place beach

Here are a few news items, followed by the MLS activity for the past week.

 

Sanibel Island Farmers Market Re-Opens

Great news, the Sanibel Island Farmers Market opens this Sunday, Nov 6, and will be open every Sunday, except Christmas, until Apr 29. Over 30 vendors participate, selling local fruits and vegetables, flowers, honey, seafood, breads, cheeses, soups, pastas, organics, jams, nuts, salsa, & more. It is located at City Hall, 800 Dunlop Rd, next to the Sanibel Library and BIG Arts. Hours are 8 a.m. to 1 p.m. During the first few Sundays, FISH (Friends in Service Here) will have a table at the market to collect non-perishable food items for the needy. It is a good time to clean out your hurricane supply boxes and donate those canned and boxed goods to a good cause. You can follow the market on Facebook.

Paving on Sanibel

Locals wondering when the paving on Gulf Drive will be completed will be happy to know that this afternoon we witnessed them finishing the segment running all the way from East Gulf through Middle Gulf at Casa Ybel Road. The more westerly segments probably will be done next week.

More Than Half of Florida Homeowners in Default are 2 Years Overdue

An article in the “The Palm Beach Post” yesterday had a sobering article which said that “More than half of Florida homeowners in foreclosure have not made a mortgage payment in two years or more. That’s higher than the national average and one indication of why banks are paying borrowers up to $20,000 to execute a short sale.
“A new report from Jacksonville-based LPS Applied Analytics found that as of September, 56% of Florida’s mortgages in foreclosure are 24 months or more behind in payments, compared with 39% nationwide. About 84% of Florida foreclosures are more than 18 months in arrears. Considering recent figures that estimate the time from initial filing to auction at 676 days in Florida, LPS Senior Vice President Herb Blecher said, he’s not shocked by the mounting late payments.
“In January 2010, just 19 percent of Florida’s foreclosures were 24 months or more delinquent. Blecher said the longer delinquency rates are more evidence of a foreclosure bottleneck that could hinder a housing recovery. “The longer the homes are out there and the borrower isn’t paying, the more properties will tend to deteriorate,” Blecher said. “It’s on the high end in Florida because inventories are bigger and foreclosure processing is slower.”
“Florida’s courts are mired in an estimated 350,000 foreclosures. Cases continue to be delayed as lenders and bank lawyers sort through last fall’s robo-signing scandal. The lengthy delays could be a boon for some struggling borrowers as banks look for alternatives to languishing in foreclosure court, said Jack McCabe, chief executive of McCabe Research & Consulting in Deerfield Beach.
“Last month, Bank of America quietly began a Florida-only campaign that gives homeowners up to $20,000 for a short sale rather than letting their homes linger. Wells Fargo and J.P. Morgan Chase have similar short-sale programs, sometimes called “cash for keys.” McCabe said a woman he knows was told by Chase it would give her $35,000 for a short sale after she was only 60 days behind on payments. “I think the banks are finally starting to see that foreclosures are a very long, dragged-out process and it’s to their advantage to do a short sale,” McCabe said. “They don’t want to incur the expense of a vacant home. They’re cutting their losses.” Another benefit to living mortgage free for two years or more is a bump in expendable cash to buoy the economy, said William Stronge, a senior fellow at the Economic Development Research Institute in West Palm Beach. But Stronge acknowledged that dropping excess cash at stores and restaurants would apply mostly to people who choose to stop paying their mortgage, not borrowers struggling because of job loss or other hardships. “Presumably, they are continuing to spend that money on goods and services instead of handing it over to the bank,” he said. “It keeps the money in the local economy.””

Realtor.com Goes Global With Launch of International Site

With more Realtors working with foreign buyers seeking U.S. properties, the National Association of Realtors® and Move Inc. have launched an international website. The new site delivers the millions of for-sale property listings displayed on Realtor.com  to buyers across the globe, as well as residential properties fed to the site by foreign content providers. Residential real estate listings from Brazil, Bulgaria, Croatia, France, Italy, Portugal, Romania, Serbia, Slovakia and Spain are currently featured on the site, which can also be accessed from the Realtor.com homepage. In the past three months, nearly 2.6 million international visitors searched for U.S. real estate on Realtor.com, according to officials. The top five countries where searches originated from are Canada, the United Kingdom, Germany, Australia and India.

“Increasingly, more and more Realtors are working with international clients who want to buy property in the U.S. and the new Realtor.com International website will not only allow Realtors to offer their expertise and knowledge to a broader audience, but will also bring buyers and sellers together across the globe,” said NAR President Ron Phipps. “Foreign buyers understand the value of owning a home in the U.S. and can rely on a Realtor because of their global perspective and understanding of different cultures and real estate practices. This collaboration with Move is just one of many ways Realtors can expand and grow their business globally.”

To help international and foreign-born buyers as they search for U.S. residential real estate, the new Realtor.com International search offers enhanced translation options in 11 languages including Chinese, Dutch, English, French, German, Italian, Japanese, Korean, Portuguese, Russian and Spanish.

NAR’s 2011 Profile of International Home Buying Activity reports the U.S. remains a top destination for foreign buyers with international purchases surging $16 billion in the last year. According to the survey, total residential international sales last year in the U.S. equaled $82 billion. Total international sales were split evenly between non-resident foreigners and recent immigrants.

International buyers of U.S. residential real estate came from 70 countries; the top five (Canada, Mexico, China, U.K., and India) accounted for 53% of all transactions from March 2010 to March 2011. Most states in the U.S. had at least one international transaction, while Arizona, California, Florida and Texas accounted for 58% of all U.S. residential transactions completed by international buyers.

Operated by Move Inc., Realtor.com is the official website of NAR and offers potential homebuyers access to millions of property listings.

Veterans Day Ceremony at Sanibel City Hall

If you are on Sanibel next Friday, Nov 11, there will be a Veterans Day program to honor our military veterans. Held around the flagpole on the grounds of City Hall, it begins with military music at 10:45 a.m. If you have not attended one of these events, one of the most touching aspects of the ceremony is “Remembrances” when veterans recall their military experiences and how they and others were affected by them. Hope to see you there.

Sanibel & Captiva MLS Activity October 28-November 4

Sanibel
CONDOS
6 new listings: Loggerhead Cay #481 2/2 $425K; Sundial #I304 1/1 $439K; Oceans Reach #3A1 2/2 $829,990; Gulfside Place #319 2/2 $999K (our listing); Tamarind #B202 2/2.5 $1.675M; Sedgemoor #101 3/3.5 $2.45M.
7 price changes: Sundial #D412 1/1 now $325K, Sundial #H402 2/2 now $449K, Sundial #H102 2/2 now $492.5K, Nutmeg Village #310 2/2 now $549.9K, High Tide #A101 2/2 now $1.395M, Junonia #301 3/2 now $1.675M, Wedgewood #203 3/3.5 now $1.95M.
2 new sales: Captains Walk #D4 2/2 listed for $224K (our listing), Sunward #101 3/2 listed for $775K.
No closed sales.
 
HOMES
8 new listings: 555 Chert Ct 3/2 $429K, 1773 Bunting Ln 3/2 $579K, 560 Boulder Dr 3/2 $645K, 561 Lake Murex Cir 3/2.5 $679K, 4041 Coquina Dr 4/3 $995K, 1520 San Carlos Bay Dr 4/3/2 $2.495M, 3441 West Gulf Dr 5/4/2 $5.995M.
11 price changes: 1133 Sand Castle Rd 3/2 now $499K, 280 Southwinds Dr 3/3.5 now $530K, 585 Lake Murex Cir 3/2 now $639K, 476 Las Tiendas Ln 3/2 now $649K, 1208 Harbour Cottage Ct 3/3 half-duplex now $749K, 228 Hurricane Ln 3/2.5 now $769K, 1287 Par View Dr 3/2 now $774.9K, 2367 Wulfert Rd 4/3.5 now $1.395M, 6190 Henderson Rd 3/2 now $1.399M, 2118 Starfish Ln 4/5 now $2.295M, 4340 West Gulf Dr 5/3.5 now $2.5M.
6 new sales: 1454 Sandpiper Cir 2/2 half-duplex listed for $299K, 683 Emeril Ct 2/2 listed for $449K, 1234 Seagrape Ln 3/2 listed for $679K, 4714 Rue Belle Mer 3/2 listed for $649K, 1240 Middle Gulf Dr 3/2 listed for $650K, 4405 West Gulf Dr 2/1.5 listed for $1.95M (short sale).
6 closed sales:  533 N Yachtsman Dr 3/2 $425K, 617 East Rocks Dr 3/2 $497K, 1182 Kittiwake Cir 3/3 $650K, 6076 Castaways Ln 3/2 $722K, 600 N Yachtsman Dr 3/2.5 $825K (short sale), 2332 Troon Ct 4/5 $1.05M (short sale). 
 
LOTS
No new listings.
2 price changes: 1299 Par View Dr now $199K, 4771 Rue Helene now $524.5K.
No new sales.
1 closed sale: 537 Lighthouse Way $525K.
 
Captiva
CONDOS
Nothing to report.
 
HOMES
No new listings.
1 price change: 11461 Dickey Ln 3/2 now $1.149M.
2 new sales: 11536 Wightman Ln 3/3 listed for $799K, 16585 Captiva Dr 5/4/2 listed for $2.3M (short sale).
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 Friday, here’s hoping you too have sunny days,

SanibelSusan

Sanibel Sunsets

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Sorry for the delay in posting the blog this week. I was at Florida Realtors® Headquarters in Orlando on Thursday and Friday attending Mediation Training and the drive home yesterday afternoon took a little longer than expected. For those wondering how long it takes to get from Sanibel Island to the theme parks in Orlando, if you drive the back roads, it is an easy three hours. Also is very scenic drive, if you like farms, lots of cattle and orange groves. It is always an especially nice ride on a fall evening with beautiful cloud formations and terrific sunsets.

The sunset over farm country last night was spectacular. In checking Facebook last night it looks like sunset was pretty special here too. This picture is one of my favorite island sunset photos, taken coming over the causeway. These nightly events are so terrific here on the islands that folks gather on the beaches to watch them. It is no wonder that local song-master Danny Morgan wrote a special song to honor them, “Sanibel Sunsets”.

Another of my Danny Morgan favorites is “Running on the Beach”, which is one of his older songs with a very catchy tune. He played it on-request for us at the 2nd Annual Shell Museum Fundraiser Celebrity Waiter Dinner at Trader’s on Monday night. Danny plays at a variety of island establishments throughout the week. Next time you hear Danny, be sure to request “Running on the Beach”, it will get your toes tapping and put a smile on your face. Danny will probably know that SanibelSusan had something to do with the request too.

Seems I did not miss too much real estate action while I was away for those few days. Here are a couple of real estate tidbits, followed by the listing and sales activity posted for Sanibel and Captiva Islands since last Friday (September 30).

Incentives Attract Buyers, But Do They Close Deals?

An article posted this week by Information, Inc. discusses a recent Fox Business News report which echoes our sentiments.

“Real estate professionals say incentives to sweeten a real estate deal are certainly good ways to generate buzz about a property, but the asking price is the real key to getting a home sold. Incentives to get home buyers’ attention have gotten lavish. Recent examples include a new BMW, season tickets to football games, a boat for waterfront properties, $3,000 gift cards at interior design studios and even the homeowners’ pet.

““We’re in a price war and a beauty contest,” Tony Vehon, broker and owner of Weichert Realtors Lake Realty in Gold Canyon, Ariz., told Fox Business News. “Every home has to be priced right and look perfect.  After that, a special incentive might drive traffic, especially if you offer something that grabs attention – something a little beyond the norm.”

“Martha Thorn, a real estate pro with The Thorn Collection at Coldwell Banker Residential Brokerage in Tampa, Fla., says that one of her sellers with a home priced less than $200,000 tried to lure homebuyers by offering season tickets to the Tampa Bay Buccaneers’ football games. “The buyers were thrilled with the tickets, but that certainly wasn’t the reason they bought the house,” Thorn said. “The most important thing is always the price.”

“Linda O’Koniewski, broker-owner of RE/MAX Heritage in Melrose, Mass., agrees: Price still is key. “An offer to pay condo fees for a year or so will definitely create some buzz, and at least get a buyer to take a second look at a property,” O’Koniewski said. But sellers must realize that “no amount of marketing will make a dent if the price is not right. If you are not competitive on the price, you cannot sell your house.”

 

New Captiva Building Height Restrictions

New visitors to the island often ask us why there are so many more “big” buildings on Captiva. The easy answer to that question is that Sanibel is incorporated as a City with its own Land Development Code, while Captiva is part of Lee County which basically has a less restrictive building code. Now, some changes are in the works for Captiva. Among the items to be discussed at The Captiva Community Panel meeting next week is an amendment to the Captiva portion of the Lee Plan. This new language, specifically written to cover Captiva as a barrier island may take effect as early as November once it has been approved in ordinance form by county commissioners. It provides that the height of buildings not exceed the least restrictive of the following two options

  • 35′ above the average grade of the lot or 42′ above mean sea level measured to the peak of the roof, whichever is lower, or
  • 28′ above the lowest horizontal member at or below the lawful base flood elevation.

Fishing the Islands 

There is an eye-catching photo in the “Island Sun” this week, of fishing captain Matt Mitchell holding a HUGE redfish. According to Matt, the early cold front last week fired up the fish in the bay, along the beaches, and in the passes. Although the annual bait migration had already begun, this kicked into high gear. With water temperatures starting to cool, fishing should only get better and better throughout the month.

Sanibel & Captiva MLS Activity September 30 – October 7

Sanibel

CONDOS

3 new listings: Sanibel Arms #H4 2/2 $490K, Island Beach Club #220B 2/2 $539K, Sundial #T306 3/2 $1.081M. 

5 price changes: Tennisplace #C21 2/1.5 now $238K (short sale), Lighthouse Point #217 3/2 now $395K, Sandalfoot #3D1 2/2 now $469K, Sundial #J201 1/1 now $495K, Sundial #G104 2/2 now $495K.

1 new sale: Sanibel Moorings #1622 2/2 listed for $350K.

3 closed sales: Village of Sanibel #R-1 3/2.5 $279K, Gulfside Place #106 2/2 $795K, Gulfside Place #128 3/2.5 $1.5M.

HOMES

3 new listings: 3180 Twin Lakes Ln 3/3 $599K, 1532 Angel Dr 3/3 $1.195M, 1220 Morningside Place 4/4 2 duplexes $1.595M.

9 price changes: 2621 SanCap Rd 3/2 now $284.9K, 1046 Sand Castle Rd 2/2 now $395K, 1929 Sanibel Bayous Rd 4/3 now $449K, 4291 Gulf Pines Dr 3/2.5 now $549K, 1001 Lindgren Blvd 3/2 now $679K, 2555 Coconut Dr 3/2 now $685K, 3050 West Gulf Dr 3/2.5 now $740K, 4405 West Gulf Dr 2/1.5 now 1.95M (short sale), 4717 Rue Belle Mer 3/3 now $2.275M. 

2 new sales: 1212 Middle Gulf Dr 2/2 listed for $379K, 617 East Rocks Dr 3/2 listed for $545K.

8 closed sales:  3808 West Gulf Dr 3/2 $426K; 4632 Rue Belle Mer 3/2 $486.2K; 1247 Par View Dr 3/2 $680K; 1717 Jewel Box Dr 3/2 $588,827; 5422 Shearwater Dr 3/2.5 half-duplex $780K; 970 Victoria Way 3/3 $950K; 5235 Indian Ct 4/3.5 $1.09M; 2596 Wulfert Rd 5/4.5 $2.225M. 

LOTS

No new listings.

3 price changes: Periwinkle Way now $185K, 0 Coconut Dr now $349K, 4407 West Gulf Dr now $1.85M (short sale).

No new or closed sales.

Captiva

CONDOS

1 new listing: Beach Homes #13 3/3 $2.475M.

2 price changes: Bayside Villas #5234 1/2 now $315K, Captiva Shores #6B 2/2 now $799.5K.

No new sales.

1 closed sale: Lands End Village #1640 3/3 $1.75M.

HOMES

2 new listings: 15 Seascape Ct 3/2 $749K, 16205 Captiva Dr 4/4 $2,194,500 (foreclosure).

1 price change: 16891 Captiva Dr 3/2 now $1.19M.

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.

Until next Friday, here’s wishing you beautiful sunsets,

SanibelSusan

Hooray, It’s Almost October

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One of my favorite months on Sanibel & Captiva Islands is October. That is when the weather is usually as good as it gets, with humidity down and temperatures dropping into the 60’s at night. Traffic is light. Shops and restaurants that were closed for vacations and refurbishment reopen. Snowbirds begin arriving with big smiles on their faces. Schedules are posted with upcoming fall and winter activities, holiday sensations begin. In the real estate business, it is also when we get our new listings for the upcoming “high season” and when we like to adjust any existing listings so that they are well positioned for “season” too. October is just that month when things start hoppin’ on the islands again.

This year is no exception. According to local weather reports, two cool fronts are on their way to SW Florida with our forecast for the weekend and beyond, “perfect”.

When Dave went out this afternoon to do his periodic listing checks, I asked him to snap a few photos which are posted in the slide-show above. They include the playground at Bowman’s Beach, an osprey nest on Tarpon Bay, and the new bike path which was just paved in front of our office. That path now connects most of the town center area including Sanibel’s Community House, Sanibel Square (home of Nanny’s Children’s Shoppe, SanibelSusan Realty, Island Therapy Center, Norm Ziegler’s Fly Shop, BIG ARTS on Periwinkle, Molnar Electric, Nave Plumbing, Sanibel Rental Service, Sanibel Design Center, and Sanibel Bean), Sanibel Library, City Hall, BIG ARTS & the playhouse, the Sanibel Museum & more. How cool is that?

One more tidbit, a new tab has been added above for those wanting to search for Sanibel & Captiva property. Hopefully, by next week, I’ll have figured out how to post more details on each my listings too. In the meantime, the above tab will bring you to the information that is shared cooperatively through our island Multiple Listing Service and the Internet Data Exchange. A full-page of info on each of my listings, including streaming videos and aerials, can be found today at www.SanibelSusan.com 

Ready to Invest in Homes Again

Those who read these blogs probably have figured out that I am a big fan of Lawrence Yun, chief economist for the National Association of Realtors®. Here is what he had to say in the October issue of “Realtor®” magazine. It is a good summary of the status of the economy.

“Americans socked away $250 billion in each of the ten years prior to 2008 – before the onset of the financial crisis. The savings rate was a low 2% to 3% of disposable income. Starting in 2008, consumers became more careful about spending and are now saving some $600 billion a year.

“The adjustments were certainly warranted. But the rise in savings has not affected all sectors of the economy equally. Spending on food, clothing, utilities, and health care has hit new highs. The growing population is fueling these areas, so where are the increased savings coming from?

“Vehicle sales have fallen to about 12 million units a year over the past three years, well below the 16 million to 17 million unit sales pace typical before the slowdown. Then there are home sales. New- and existing-home sales hit $1.2 million and $7.1 million, respectively, in 2005. The comparable figures are now $300,000 and $5 million.

“This process of saving more and reducing debt is known as deleveraging, and it’s not just households doing it. Businesses, banks, and state and local governments are doing it, too.

“Only the federal government has been moving in the opposite direction: spending more using borrowed money. But this trend is likely to reverse soon. The debt ceiling bill enacted in early August all but ensures federal borrowing will slow because it creates a mechanism for $1.5 trillion in spending cuts if Congress fails to act on the recommendations of a new super committee of lawmakers charged with identifying cuts.

“Meanwhile, we can expect deleveraging to slow among businesses and consumers. There isn’t a perfect straight-line path in economics. Deleveraging is big now, but tomorrow will be different. Despite major hurdles in the housing market, there are also signs sales and prices have reached the bottom.”

What’s New at “Ding” Darling Refuge

An e-mail received this week from the “Ding” Darling Wildlife Society, said that the U.S. Fish & Wildlife Service thought of “Ding” Darling Refuge when deciding where to debut one of three new traveling Climate Change interpretive exhibits. Newly arrived at the Refuge’s free Education Center, the exhibit will be at the Refuge through “Ding” Darling Days in Oct and at least until the end of Jan when it will help to kick off the Refuge’s winter lecture series. The background of the climate change exhibit displays a map of coastal refuges, including “Ding” Darling, that are at risk due to climate change, rising sea levels, loss of wetlands and other habitat, flooding and drought. For the complete 2012 Lecture Series Schedule.

Sanibel MLS Activity – September 23-30

Sanibel

CONDOS
4 new listings: Sanibel Arms West #M7 2/2 $399.9K (our listing), Blind Pass #B209 2/2 $479K, Kings Crown #216 2/2 $749K, Lantana #202 4/3.5 $1.899M.

3 price changes: Sundial #B402 1/1 now $395K, Lighthouse Point #318 3/2 now $449K, Clam Shell #C 2/2 now $749K.

1 new sale: Mariner Pointe #1062 2/2 listed for $299K.

2 closed sales: Sanibel Arms #D6 1/1 $180K, Loggerhead Cay #544 2/2 $525K (our listing).

HOMES
1 new listing: 955 S Yachtsman 3/2 $649.9K.
5 price changes: 1214 Par View 2/2 now $499K (our listing), 5657 SanCap 3/2 now $545K, 1284 Par View 2/2 now $549K, 935 Lindgren 3/2 now $624.9K, 5035 Joewood 4/4.5 now $3.75M.
3 new sales: 1672 Atlanta Plaza 2/1 listed for $350K, 617 East Rocks 3/2 listed for $545K, 618 N Yachtsman 3/2 listed for $772.5K(short sale).
2 closed sales:  965 Main 4/2 $216K, 4248 Old Banyan 3/2 $430K.

LOTS
No new listings.
3 price changes: 1299 Par View now $215K, 9056 Mockingbird now $299K, 3411 West Gulf now $3.74M.
No new sales.
No closed sales.

Captiva
CONDOS
2 new listings: Bayside Villas #4319 3/3 $559K, 4306 Bayside Villas 3/3 now $625K, Lands End #1628 3/3 $1.799M.
1 price change: Bayside Villas #4306 3/3 now $625K.

1 new sale: Lands End #1640 listed for $1.899M.

1 closed sale: Lands End #1639 2/2 $1.075M.

HOMES
No new listings.

1 price change: 16585 Captiva 5/4.5 now $2.2M.
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.

 

Until next week, best weekend wishes & Happy October.

Here’s to the beginning of a wonderful fall & winter “season” on the islands!

Another Great Friday on Sanibel & Captiva Islands

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Today is the first day of fall and this week the first of my snow-bird neighbors returned to the island for the winter. There will be more renewed interest in Sanibel and Captiva Islands as the weather up north begins to turn cool.

Today Dave and I were at Loggerhead Cay condominium where I took some of the above photos. Looking toward the Fort Myers Beach skyline, you can see those afternoon popcorn clouds rolling in. I snapped another photo as we were heading back to the office, along East Gulf Dr where some local vegetation continues to bloom. The final pictures with the colorful umbrella are from one of our favorites listings on Lighthouse Way. It sold and closed this week and though we are very thankful for the sale, we sure are going to miss that house. It is truly a special one. One of these photos is featured in Jim Anderson & Jim George’s book “Sanibel & Captiva – Our Islands In The Sun“. which as been out less than a year and already is an island top seller.


Sanibel’s Millage Rate Dropped to 2.1038

During a public hearing on Tuesday, Sanibel City Council approved a resolution adopting the final FY 2011-12 $47+M budget, lowering the operating budget, and setting the ad valorem millage rate at 2.1038, a decrease of 2.74% from the tentative rate approved earlier. Highlights of the adopted budget include:

  • City salaries will remain flat for the 4th consecutive year.
  • Full-time employees have been reduced through attrition from 142 in FY 2007 to 114 in FY 2012.
  • Pay-down of the City’s pension plan unfunded actuarial accrued liability by $3M.
  • With the exception of the sewer rate, which will increase 3%, all other city fees were held flat.
  • $3.2M is allocated toward general government capital improvements, including $1.4M of capital projects rolled over from the prior years and $1.8M for new projects.

Mortgage Closing Costs Up 8.8% 

The Sept issue of REALTOR® magazine included the following article: “Closing costs on mortgages have increased dramatically nationwide, spiking on average 8.8% from a year ago, according to a survey from Bankrate. Origination, title, and third-party fees on a $200,000 loan average $4,070, up from $3,741 from Bankrate’s survey at the same time last year. Analysts attribute the increase to lenders having to do extra work in approving mortgage applications due to increased scrutiny and tighter lending regulations. New York remains the most expensive state to close a loan at an average of $6,183. Arkansas remains the lowest at an average of $3,378.”

More Visitors Coming to SW Florida from Scandinavian Countries 

The Lee County Port Authority announced that Scandinavian tour operator Comefly will bring back its nonstop weekly service from Aalborg (which is the 4th largest city in Denmark) and SW Florida International Airport on Dec 19. The flights will operate on Mondays from Dec 19 through Apr 9. For more info, go to http://comefly.dk.

Just Off Island

Shell Point Retirement Community, just off island, is converting the Country Inn & Suites hotel (which they own) on Summerlin Rd, at Shell Point’s entrance and just two miles from the Sanibel causeway, into a new assisted living facility called The Springs at Shell Point. The hotel which has been in operation since 2001, closed as a hotel last week and soon will begin a $2M renovation to convert the building in the nonprofit community’s third assisted living facility. It is estimated to open in Feb 2012 with 105 units, offering heated swimming pool, exercise facilities, transportation, dining, 24-hour healthcare staffing, and a professional activities director.

Realtors® Fighting for Healthy Housing Market

Ron Phipps, National Association of Realtors® 2011 President, was quoted in the last REALTOR® magazine saying” I’m fighting for a healthy housing market for my grandchildren. That means creating a new secondary mortgage market that works with private lenders to serve all borrowers in all market conditions. It means preserving the mortgage interest deduction. And it means fighting a regulatory proposal that would require home buyers to put 20% down on a mortgage; it is not needed for sound underwriting and would disproportionately hurt first-time buyers and minorities.” The National Association’s elected leaders have testified before Congress and regulators and have mobilized members through the Realtor® Action Center. A recent call-to-action drew letters from 125,000 Realtors® asking U.S. House of Representatives members to cosponsor a House Resolution, affirming the value and importance of the mortgage interest deduction. On opposition to the 20% down payment proposal, more than 2/3 of the U.S. House and more than half the Senate have declared their support for the Association’s position.

House Fails to Vote on Extending Loan Limits

There was another call-to-action posted this week as the conforming loan limit on government-backed mortgages is set to expire Oct 1 because attempts to extend them have not gained traction in Congress. As the posting indicated “The math is simple: If Fannie Mae, Freddie Mac and FHA buy higher cost loans, more buyers will net a lower interest rate.” In 2008, Congress raised limits up to $729,750 in some areas to make larger mortgages available in high-priced housing markets. The limits will drop to $625,500 in the many areas, mostly affecting housing markets on West and East Coasts. The National Association of Home Builders has said it fears more than 17 million homes nationwide will become ineligible for more affordable federal funding if the loan limit expires. Federal Reserve Chairman Ben Bernanke has said he’s confident that the private market, including investors and insurers, would step up to fill the void by offering jumbo loans when the conforming loan limits expired – although likely at a higher cost to borrowers.

Home Building Slide Continues

An AP article on Tuesday reported that “builders broke ground on fewer homes in August, a reminder that the housing market remains depressed. The Commerce Department said Tuesday that builders began work on a seasonally adjusted 571,000 homes last month, a 5% decline from July. That’s less than half the 1.2M that economists say is consistent with healthy housing markets. Single-family homes, which represent roughly 2/3 of home construction, fell 1.4%. Apartment building plunged 12.4%. Building permits, a gauge of future construction, rose 3.2%. Hurricane Irene also slowed construction in the Northeast. Overall, homebuilding fell to its lowest levels in 50 years in 2009, when builders began work on just 554,000 homes. Last year was not much better.

“While home construction represents a small portion of the housing market, it has an outsize impact on the economy. Each home that is built creates an average of three jobs for a year and about $90K in taxes, according to the National Association of Home Builders. After previous recessions, housing accounted for at least 15% of economic growth in the United States. Since the recession officially ended in June 2009, it has contributed just 4%. Cash-strapped builders are struggling to compete with deeply discounted foreclosures and short sales, when lenders allow borrowers to sell homes for less than what is owed on their mortgages. And few homes are selling. New-home sales fell in July to a seasonally adjusted annual rate of 298,000, the weakest pace in five months. This year is shaping up to be the worst for sales on records dating back a half-century. “Renting has become a preferred option for many Americans who lost their jobs during the recession and were forced to leave their homes. Still, the surge in apartments has not been enough to offset the loss of single-family homebuilding. Another reason sales have fallen is that previously occupied homes are a better deal than new homes. The median price of a new home is nearly 28% higher than the median price for a resale. That’s almost twice the markup in a healthy housing market.

“The trade group said Monday that its survey of industry sentiment fell slightly to 14 in September. The index has been below 20 for all but one month during the past two years. Any reading below 50 indicates negative sentiment about the housing market. The index hasn’t reached 50 since April 2006, the peak of the housing boom.”

This Winter at BIG ARTS

When I went to BIG ARTS this week to sign up for community chorus, it reminded me that often island visitors, and sometimes even residents, are not aware that in addition to their many musical performances, special events, movies, and exhibits, BIG ARTS also offers a wonderful selection of classes and workshops. Here is a smattering of some that are available this winter: Painting & Drawing (from acrylics & oils, to watercolors, pastels, mixed media, decorative painting, Chinese painting, still life, with models, & more); Fine Crafts (including jewelry, metal-smithing, collages, papier-mache, basketry, printmaking, glass fusing, & more); Pottery (clay, sculpting, wheel throwing); Dance/Fitness (tap, jazz, hip hop, youth, Pilates); Discussion Groups; Language; Music (chorus, band, & lesson); Technology & Art (iPhone, iPad, iPod, iCloud, iPhoto, iTunes, Facebook & Social Media, Mac, photography, Photoshop, & more); Theater; Writing; and the Winter Academy, which is a variety of multi-week sessions on topics as varied as health care, music, story telling, creative thinking, psychology, and law. It is always good to sign up early.

Sanibel & Captiva MLS Activity September 16 – 23

Sanibel 

CONDOS
1 new listing: Sandpiper Beach #105 2/2 $640K.
5 price changes: Captains Walk #F7 2/1.5 now $229K; Tennisplace #E33 2/1.5 now $278K; Sundial #F408 1/1 now $303K; Loggerhead Cay #232 2/2 now $585K; High Tide #B202 2/2 now $1,447,500M.
No new or closed sales.

HOMES
2 new listings: 1436 Sandpiper Cir 2/2 half-duplex $315K, 2560 Coconut Dr 4/3 $538K.
5 price changes:  1123 Sand Castle Rd 3/2 now $544.9K, 4215 Gulf Pines Dr 5/3.5 now $619K, 1449 Tahiti Dr 3/3 now $659K, 1339 Par View Dr 3/2 now $769K, 2294 Wulfert Dr 4/4 now $1.089M.
1 new sale: 4632 Rue Belle Mer 3/2 listed for $549.9K.
6 closed sales: 491 Rabbit Rd 2/2 $339K, 495 East Lake Rd 3/2 $342.5K, 1525 Wilton Ln 3/3 $482K, 3550 Bunny Ln 3/2 $485K, 697 Birdie View Pt 3/2 $555K, 536 Lighthouse Way 4/4.5 $2.15M (our listing).

LOTS
No new listings.
5 price changes: 1657 Sabal Sands Rd now $299,999; 0 Gulf Pines Dr now $319K; 4309 Gulf Pines Dr now $319K; 2562 Coconut Dr now $449K; 6401 Pine Ave now $779K.
No new sales.
1 closed sale: 629 Lighthouse Way $550K.

Captiva

CONDOS
No new listings.
1 price change: Tennis Villas #3120 1/1 now $229K.
No new or closed sales.

HOMES
No new listings or price changes.
1 new sale: 16891 Captiva Dr 3/2 listed for $1.295M.
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 Friday, here’s to more wonderful weather and clear sailing for all,

SanibelSusan

P.S. If you noticed that the blog this week is posted in a new theme, you are right. I’m still technically challenged by all of this; but the old dog is working on some new tricks, so stand by. As always, your comments are appreciated.

Today’s Roseate Spoonbill & Other Realtor Stuff

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While driving onto the island this morning, I noticed a lone roseate spoonbill wading just off the causeway. It was unusual, first since it was alone – as they are often seen in groups, but also because it had such a distinct color difference between its upper and lower body – snowy white on top and bright pink, almost fuscia, from the wings down. Too bad I wasn’t in a spot where I could stop and take a quick picture. It made me go back to the office and Google these birds again. Here’s a little “did you know” about these wonderful animals.

Spoonbills eat shrimp. Shrimp eat algae and the algae make their own red and yellow pigments, called carotenoids. Some scientists believe that the pink coloration that roseate spoonbills acquire as they mature is due to their diet of carotenoid-rich organisms like shrimp. The more they eat, the pinker they get. Flamingos are close relatives of the roseate spoonbill. They both have pink feathers, but the flamingos are much larger, with a longer neck. From March through October, roseate spoonbills prefer bays, marshes and estuaries along the Gulf Coast. Occasionally they will travel inland through the eastern third of Texas. In winter, most roseate spoonbills migrate to Central and South America, and the West Indies.

The slideshow above has photos taken by my friends, Doris and Hans from Switzerland. Love their island pix! They like roseate spoonbills almost as much as SanibelSusan.

September Realtor® Membership Meeting

Even with the island quiet, we had a good turn-out yesterday at our monthly Sanibel & Captiva Islands Association of Realtors® membership meeting. Ada Shissler, one of our semi-retired members, who started Sanibel Beautification and also is a long-time island boater, gave a presentation on our local canals and the benefits of our area to those who enjoy being on the water. Her pointers on things Realtors® should know when selling waterfront property in Southwest Florida were well received. As a boater myself, it was good to learn a few tidbits from a gal who put herself through college working as a member of the Seamen’s Union on the Great Lakes. I thought I knew Ada pretty well, but sure didn’t know that about her past. The locals call that “learning about a life B.S.” (before Sanibel).

Galloway Captiva Triathlon

Due to this event permitted by Lee County, Sanibel-Captiva Rd will be closed on Sunday, Sep 18, from 6:45 a.m. to 8:45 a.m. for traffic heading on and off of Captiva Island in the area of Blind Pass. Traffic on Sanibel-Captiva Rd at Blind Pass will be routed in a one-way circular pattern around Pine Ave to Coconut Dr and Mangrove Ln back to Sanibel-Captiva Rd area until Captiva Rd is re-opened. Instead of making that loop, you might want to consider stopping for breakfast at Sunset Grill located at the corner of San-Cap and Pine. Their gulf view is terrific and their chow is great!

Future Rental Bookings

Today, I again had lunch with colleague Dave Schuldenfrei who manages VIP’s Rental Divisions. He concurred that the islands are very quiet now, though his company does have a few units booked both this week and next. More importantly, he said that future bookings are well ahead of past years at this time. He thinks we will have a busy winter on the islands. We all hope so! If you know someone looking for a rental have them check out VIP’s offerings at www.VIP-VacationRentals.com

Sanibel & Captiva MLS Activity September 9-16

Sanibel
CONDOS
2 new listings:  Colonnades #43 1/1 $169K, Duggers Tropical Cottages #2 1/1 $286K.
2 price change:  Lighthouse Point #217 3/2 now $400K, Sunward of Sanibel #101 3/2 now $775K.
1 new sale:  Pointe Santo #C7 2/2 listed for $749K.
No closed sales.

HOMES
4 new listings:  1948 Roseate Ln 2/2 $389K, 490 Old Trail Rd 3/2 $459K, 476 Las Tiendas Ln 3/2 $679K, 927 Limpet Dr 3/3 $749K (foreclosure).
5 price changes:  1755 Jewel Box Dr 3/2 now $629K, 618 N Yachtsman Dr 3/2 now $772.5K (short sale), 557 N Yachtsman Dr 4/3 now $789K, 1066 Bailey Rd 3/3 now $1.895M, 4949 Joewood Dr 5/5 now $2.975M.
No new sales.
2 closed sales:  4797 Rue Helene 3/2 $542.5K, 2622 Coconut Dr 3/3 $1.35M.
 
LOTS
2 new listings:  5321 Punta Caloosa Ct $420K; 2427,41, & 57 (triple parcel) Palm Ridge Rd $950K.
3 price changes:  437 Lake Murex Cir now $249.9K, 513 Sea Walk Ct now $325K, 4954 Joewood Dr now $469K.
No new or closed sales.
 
Captiva
CONDOS
No new listings.
1 price change:  Bayside Villas #5134 1/2 now $285K.
1 new sale:  Lands End Village #1639 2/2 listed for $1.225M.
No new or closed sales.

HOMES
1 new listing:  16891 Captiva Dr 3/2 $1.295M.
1 price change:  11514 Andy Rosse Ln 4/4 now $2.395M.
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.

Best Weather Comes Right After Summer

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What a quick week. How can it already be Friday? Below are a few news items followed by the Sanibel & Captiva Islands MLS activity for the past week. Lisa will be in the office tomorrow updating our inventory lists. Be sure and let us know anytime you would like an update. They continue to be “best sellers”.

Sanibel & Captiva Islands Association of Realtors®

There was no Realtor Caravan meeting this week, but next Thursday is our monthly Membership Meeting with breakfast and speaker (talking about our canals and waterways). I will be monitoring our Orientation Session for new Realtors® on Tuesday morning (yes, there really are new agents still joining this profession) and was just advised of our annual Professionals Standards training in November. Our Realtor® organization requires that each Association have trained representatives to handle arbitration and ethics complaints. I have been part of that group for years and may eventually qualify as an official Mediator.

Island Weather

After seeing what has been happening around the nation this week, I am almost embarrassed to report how wonderful the weather has been here on the islands. We have had mostly sunny bright days with occasional showers, just enough to keep the temperatures down and the sunsets magnificent. The views driving over the causeway on the Labor Day weekend were postcard picture- perfect, though the beaches and waterways were not very busy. September truly is a wonderful time to be here. Traffic is light and it is a fun-time for the locals to enjoy the islands.

Planning Ahead

If you are thinking about what will be happening on the islands between now and the end of the year and when you should plan your next visits, keep these dates in mind. These are a few of my favorites:

Oct 16-22 – “Ding” Darling Days (we again are sponsors this year)

Oct 23 – 26th Annual Bailey Fest (with a few tunes by the Sanibel Community Chorus – tra-la)

Nov 4 – Sanibel Cracker Fest 2011 by START (Solutions to Avoid Red Tide)

Nov 6 – Sanibel Farmers Market reopens (Sunday mornings on City Hall grounds)

Nov 13 – CROW’s 30th Annual Taste of the Islands (across the street from our office)

Nov 26 – Livingston Taylor at BIG ARTS

Dec 2 – Sanibel Luminary

Dec 4 – Gulf Coast Symphony at BIG ARTS

Dec 8 – BIG ARTS Holiday Concert (with your favorite Realtor® again in the alto section)

Dec 17 – Clyde Butcher Photographer “Adventures in the Swamp) at BIG ARTS

Flooding Affects All of Us

A call to action by our National Association of Realtors® President yesterday was a strong reminder that this year flood insurance has become more important on the national level, as the Eastern seaboard faces the aftermaths of incredible storms. While wind and erosion were issues, the lasting legacy and real expense is related to flooding. Every state has flooding at some time or another, but Congress has yet to extend the National Flood Insurance Program, which expires on September 30. If there is no program, buyers cannot get insurance. They cannot get a mortgage. They cannot close.

Personally, I think it is ridiculous that every year this program goes through the same gyrations and often expires before the program is eventually extended. It is about time for the program to be changed to “natural disaster” insurance, Realtors® have been lobbying for that for years. In the meantime if you are inclined, please write to your congressmen. It might help. We do not want settlements delayed because buyers cannot get insurance.

High-End Still Selling Best

I just did a quick MLS search to confirm recent comments that it is the “high-end” that remains the top commodity on the islands. Here are the results:

Median Asking Price Today – on Sanibel $599,000 – on Captiva $1,295,000

Median Sale Price – 1/1 to 9/9/2010 – on Sanibel $1,608,000 – on Captiva $1,335,000

Median Sale Price – 1/1 to 9/9/2011 – on Sanibel $2,450,000 – on Captiva $2,936,250

What does all of this really mean? There still is a lot of island property for sale – over 500 listings on Sanibel and nearly 150 on Captiva. This year has had more sales over $2M than in many years, but like the lower-end, the well-priced properties are selling to astute cash buyers. We still have a long way to go with most properties selling at 2000 to 2003 prices.

Sanibel & Captiva MLS Activity September 2 to 9

Sanibel
CONDOS
3 new listings: Mariner Pointe #1082 2/2 $349.9K, Seashells #6 2/2 $359K, Sand Pointe #211 2/2 $669K.
2 price changes: Colonnades #47 1/1 now $155K (our listing), Tarpon Beach #201 2/2 now $639K.
4 new sales: Colonnades #10 1/1 listed for $175K, Sundial #C201 1/1 listed for $269K (short sale), Spanish Cay #B1 2/2 listed for $299K, Gulfside Place #128 3/2.5 listed for $1.895M.
2 closed sales: Seashells #35 2/2 $200K, Heron at The Sanctuary II #2B 3/3.5 $599K.

HOMES
2 new listings: 9454 Cotten Ct 3/3 $619K, 1516 Angel Dr 3/2.5 $1.095M (foreclosure).
3 price changes: 766 Donax St 2/2 duplex now $320K, 4210 Old Banyan Way 3/2 now $599K, 1817 Buckthorn Ln 4/3.5 now $1.16M.
3 new sales: 3808 West Gulf Dr 3/2 listed for $425K, 4248 Old Banyan Way 3/2 listed for $479K, 533 N Yachtsman Dr 3/2 listed for $499K.
2 closed listings: 1615 Sand Castle Rd 3/3 half-duplex $360K, 720 Birdie View Pt 3/3 $900K.
LOTS
No new listings.
1 price change: Periwinkle Way now $310K.
No new or closed sales.

Captiva
CONDOS
1 new listing: Bayside Villas #5228 1/2 $299K.
1 price change: Seabreeze #1251 3/3 now $1.695M.
No new or closed sales. 

HOMES
Nothing to report.

LOTS
Nothing to report.

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