Superb Sanibel Springtime

SanibelSusan reporting that another week has flown by with a few rumblings about the additional visitors here because of Lee County Schools on break.

For the most part those folks enjoyed wonderful breezy sunny weather. A cool front that arrived yesterday briefly turned sunshine to clouds, but more spectacular weather is expected over the weekend.

It’s a gorgeous Friday afternoon with highs forecast to only be in the low to mid 70’s until Monday when temperatures again reach into the 80’s. Springtime in Florida is superb.

Real Estate Scoop

At SanibelSusan Realty, another listing is under contract and a few more action items accomplished for upcoming closings.

At the local Association of Realtors® monthly breakfast meeting yesterday, there were no new listings or price reductions announced and no properties open for Caravan viewing. This is the fourth week in a row without any listings to see.

The article below is a good summation of the market in Southwest Florida. If you are thinking of selling, it is to your benefit to list now, before the annual snowbirds start heading home. If you are a buyer, don’t think that waiting for the market to normalize will happen anytime soon.

See below the news for the action reported in the Sanibel & Captiva Islands Multiple Listing Service since last Friday.

The Pulse of Southwest Florida Real Estate

I received an email this week from local attorneys Henderson Franklin who sponsored the 2022 Market Trends event which took place on March 16 with speakers Randy and Justin Thibault from Land Solutions, Inc. and Denny Grimes from Keller Williams Realty. Here are some tidbits from that article with a recap of 2022 Market Trends by Alessandro Secino:

“The presentation discussed the current conditions of the real estate market in Southwest Florida and provided a future forecast about what the market may look like in the coming year. The presentation also focused on the primary areas of the real estate sector: residential development, resale properties, and the commercial market.

“Overall, the end of 2021 was a continuation of the rapid growth that comprised 2020 and 2021, as waves of new residents and businesses enter the market. All sectors of the market are currently seeing growth, but nowhere is this more evident than with residential development and resale, as low inventory coupled with high demand has prompted dramatic price increases across the three counties of Lee, Collier and Charlotte. The ultimate question, however, will be whether this will continue or will the market begin to decline as prices continue to creep up higher.

Residential Development – In 2021, Southwest Florida saw a 47% increase in new single-family residential permits issued amongst the three counties, with Lee County seeing the highest increase of 59%. Total residential permits increased 39% percent to approximately 25,000 permits. These percentage increases, while dramatic, still pale in comparison to the number of permits issued in 2005, which numbered around 44,000 permits prior to the crash in 2008. Similarly, multi-family residential permits increased by 19% over the last year.

“These numbers illustrate that low resale inventory is driving up the prices, leading buyers to seek new construction and rental properties. Presently, the current inventory of resale properties cannot match the demand of new homebuyers entering the market, leading to homes rising in value by as much as 77% in some areas over the last year.

“As a result, new buyers who cannot find already built homes or are priced out of the market are now turning to rental properties until inventory becomes available or prices soften. The same is true for sellers who took advantage of increased home values are renting until prices come back down.

“With resale inventory so low, it begs the question of where is all this new development going? Most of the new development is taking place inland from the coastal communities. The two leading developments in terms of total permits issued are Ave Maria and Babcock Ranch, which account for a combined 1400 new permits in 2021.

“In many respects, the theme for 2021 was rising prices. This is especially true for the real estate market in Southwest Florida. These dramatic price increases led to shifting behaviors from buyers and sellers, but until either supply increases or demand lessens, prices are going to continue to rise.

Resale Market – The resale market in Southwest Florida is what presenter Danny Grimes calls “the greatest market of all time,” and for a good reason. 2021 saw a record number of homes sales in Lee County with over 19,000 homes sold, an increase of 16% over the previous year.

“In addition, home prices have similarly increased; from January 2020-January 2022 in Charlotte County, median sales prices increased by 50% from $240,000 to $360,000. The areas within Southwest Florida are also areas with the best location such as Captiva, Boca Grande, and in the Park Shore Drive/ 5th Avenue area in Naples.

“While the market in Southwest Florida is seeing unprecedented numbers of sales, there are not enough properties to meet the demand of buyers. Currently, inventory levels are down between 20 and 30% amongst the three counties, which is not necessarily a bad thing, as high inventory and high prices are conditions that may lead to a bubble and subsequent crash. If there is a true downside to the current market, it is that there are no properties in Southwest Florida under $100,000. Even vacant properties in Lehigh Acres, an area considered most affordable within the region, have seen a 90% increase in vacant land values.

“Almost every person involved in the real estate industry in Southwest Florida is trying to determine when will this market will begin to decline again? There is no predictable answer to this question, however we will begin to see the signs of this when properties are going up for sale and not being purchased or sitting on the market for longer periods of time.

Commercial Property – Commercial sales volume over the last year has nearly doubled, with an over 87% increase, which surprisingly enough is mostly attributable to retail sales. In 2020, investors were fleeing retail assets with COVID shifting commerce electronically, however 2021 saw current retail properties shifting from retail spaces selling goods, to a more service-based retail user such as car washes, gas stations, and convenience stores. With these new users, we are seeing existing retail spaces being revitalized by new companies such as Sprouts who are acquiring properties within existing shopping centers.

“Despite the increase in retail, industrial properties are also in high demand despite only accounting for 19% of the 87% increase in sales volume. Rental rates for industrial properties are up almost 10% in the last year along with increases in construction of industrial spaces.

“Finally, office spaces (much like retail) saw investors moving away from those assets due to the work-from-home shift COVID brought on. However, office space properties accounted for 26% of the overall growth in sales volume over the last year. Presenter Justin Thibault likened this increase in office space sales going from a pandemic to an endemic stage, where workers are heading back to the office in more hybrid models. In a sense we are learning to live with more hybrid work models, and office space properties are increasing as a result.

Overall, the commercial market — which was perhaps on the shakiest footing as a result of COVID — has begun to rebound and grow. As we see larger companies like Amazon move into the area, the demands for commercial properties should also increase. Charlotte County may very well be the beneficiary of this new investment as there is room to build industrial properties within proximity to the airport in Punta Gorda.

Take-Away – The Market Trends report focused largely on current market conditions, which is not surprising considering the increases in growth throughout all sectors of the Southwest Florida real estate market. With that said, it is difficult to ascertain what the future may hold, as it appears the current growth is not showing signs of slowing down. As we enter a post-COVID economy and already experiencing rising inflation and global turmoil, it will be interesting to see if we begin to see a slowdown in the real estate market here in Southwest Florida.”

Will Ukraine War Impact Florida Real Estate?

Posted March 15 on FloridaRealtors and sourced to 2022 Media Group, by Derek Gilliam.

“On the one hand, Fla. is the No. 1 state for Russian RE investing – 29% of all U.S. purchases. On the other, Russian buyers make up only 0.8% of all foreign purchases.

“NAPLES, Fla. – Over the past six years, Russian buyers of U.S. real estate have preferred the sunny coasts of Florida over property in any other state in the nation. Wealthy Russians have reportedly bought so many luxury condo properties in the north Miami city of Sunny Isles Beach that some have termed it “Little Moscow.” “They love to be here, and they like to spend their money and enjoy their life,” Lana Bell, a South Florida real estate agent told NewsNation.com.

“But it’s not just the wealthy Russian elites seeking Florida sunshine. Across the state from Warm Mineral Springs in North Port all the way up to small town of Steinhatchee near the Panhandle, Russians and Eastern Europeans have established communities, according to population data from the U.S. Census Bureau’s American Community Survey.

“Over the past six years, 29% of Russian real estate transactions in the United States occurred in Florida, the most in the nation, according to a report from the National Association of Realtors® (NAR). But even as countries across the world impose sanctions on Russia for invading and waging a brutal war against its neighbor Ukraine, the impact to U.S. home or property prices is not expected to be meaningful, even without any Russian purchases of Florida real estate.

““Russia has little direct impact on the U.S. real estate market as it accounted for less than 1% (0.8%) of all foreign buyers who purchased U.S. residential property from April 2015 through March 2021, according to data from NAR’s survey of foreign buyer transactions of its members,” covering about 5,000 respondents, the report said. Any effect from the loss of Russian purchases would tend to be at the high end, as the NAR’s report notes that Russian buyers buy more luxury properties than the average Florida buyer.

“Still, with the transition of the pandemic to a different phase, the loss of Russian buyers could be offset by the resumption of purchases by people from other countries, as well as within the U.S. Craig Cerreta, the managing broker for Premier Sotheby’s International Realty’s Sarasota office, said the pandemic caused a near shutdown of foreign buyers, but that the segment has been bouncing back in recent months.

“During the COVID pandemic, real estate prices have drastically increased in Florida as migration brought new residents to the state, with people retiring early or enjoying the ability to work remotely.

Tight supply – Historically, Cerreta said, Canadians, followed by residents of the United Kingdom, have accounted for the majority of international real estate transactions in the Sarasota market. “There is no question that they (Russian purchasers) are small” locally, he said. “But they are typically high-end buyers.”

“The NAR data says that the average Russian real estate transaction was about $650,000. The average for all international buyers was about $480,000. But, with the demand seen for Florida properties, combined with historically low number of properties for sale, any loss of Russian purchases are being more than made up from demand from other buyers, Cerreta said. Cerreta recently sold a home he owned in the Sarasota area. During the open house, more than 170 people viewed the residence and 21 people made an offer. Three of the offers came from people in California, something that surprised the longtime real estate agent, as Californians have historically not been a large market for the west coast of Florida.

“Any loss of demand from Russian buyers for luxury properties or other property types won’t be felt in the Sarasota market, he said. In February, 72% of all real estate sales in the Sarasota market closed at or above the list price compared to 43% at or above list price in February 2021, Cerreta said. “There’s not enough inventory to meet demand,” he said of the Sarasota market.

“Sergei Sokolov, a Realtor with Sarasota’s Michael Saunders & Co., was born in Ukraine but moved to the United States when he was 5 years old. The now-47-year-old real estate professional, fluent in Russian and Ukrainian, said Russian speakers often want a Realtor who speaks their language. The first house he sold in Sarasota in 2004 was to a Russian speaker, and he does about three or four transactions a year. Sokolov specializes in entry level homes typically in the $350,000 to $400,000 price range, with the majority of his Russian-speaking buyers already living in the U.S. or Canada and unlikely to be impacted by the Russian-Ukrainian war. “I don’t expect there to be much of an impact on my business,” he said. “There’s just a lot more demand than there is supply.”

Varied buyers – The next closest U.S. state for Russian buyers was Georgia with 16% of all Russian purchases of U.S. real estate, roughly 13 percentage points behind Florida. New York (13%), California (8%) and Illinois (5%) rounded out the top five states for total transactions from Russian buyers. The NAR report said that even in Florida, purchases of real estate made by Russians accounted for just 0.2% of the Sunshine State’s real estate transactions from July 2020 to June 2021. Those numbers may be skewed as the pandemic caused many governments to restrict travel to other countries.

“A 2020 profile on international residential transactions in Florida conducted by the NAR with Florida Realtors, the largest trade organization in the state, concluded that foreign buyers accounted for $15.6 billion in real estate transactions from August 2019 to July 2020 – about 11% of the state’s sales. The total transaction volume for Florida real estate in that time period was $137 billion dollars.

“However, in that report that largely accounted for sales just prior to the pandemic, Russia did not rank among the top 15 counties for any Florida metro besides Miami. The Miami metro market, the largest in Florida, had just 2% of home sales go to Russian buyers.

“The largest group of foreign buyers by transaction volume came from Latin America and the Caribbean with about 37% of the total value of homes purchased by international citizens. Canadian buyers had the most transactions at 21% followed by Brazil (7%), Argentina (6%), Venezuela (5%), Columbia (5%) and the United Kingdom (5%).

“The metro area of Miami-Fort Lauderdale-West Palm Beach had the lion’s share of foreign buyers with 47.3% of all purchases. The Tampa-St. Petersburg-Clearwater metro accounted for 11%; Orlando-Kissimmee-Sanford had 9.7%, North Port-Sarasota-Bradenton had 6.9% and Cape Coral-Fort Myers came in at 4.7%.

Larger economic issues – While Russians account for a tiny fraction of all real estate purchases in Florida, the real impact of the conflict may be felt at the gas pump as international buyers cut ties with Russian energy. President Joe Biden announced a ban on Russian oil earlier this week.

“Chris Jones, president of Florida Economic Advisors and a University of South Florida faculty member at USF in the economics department, agreed with the real estate experts that the reduction in demand from Russian buyers for U.S. real estate won’t shift home prices in Florida. However, the impact of rising gas prices could be dangerous for the U.S. economy, he said. He anticipates that gas prices will increase at least another 50 cents before the end of May, with peak price per gallon of gasoline surpassing $5 per gallon this year. As people pay more at the pump, they have less money to spend on goods and services that drive the economy, which he believes will lead to a decrease in the nation’s economic output. He said he fears that the American economy could be headed toward “stagflation” because of the rising gas prices. Stagflation happens when an economy has rising inflation at the same time as slowing economic output. “We’re already halfway there,” he said, pointing to rising inflation.

“Rising gas prices will also have an impact by raising prices on nearly all goods and services which could then cause fewer people to be able to afford to purchase residential property. Less demand, caused largely by rising gas prices, would then impact Florida’s real estate market.”

Sanibel & Captiva Islands Multiple Listing Service Activity March 18-25, 2022

Sanibel

CONDOS

1 new listing: Pine Cove #201 3/2 $1.899M.

2 price changes: Island Beach Club #210C 2/2 now $1.395M, Junonia #301 4/2 now $2.4M.

2 new sales: Shell Island Beach Club #5C 2/2 listed at $1.279M, Lighthouse Point #227 3/2 listed at $1.395M (our listing).

 

7 closed sales: Sundial #I402 1/1 $650K, Sandalfoot #5B1 1/1 $759K, Loggerhead Cay #242 2/2 $765K, Lighthouse Point #112 3/2 $830K, Sanibel Inn #1E 2/2 $850K, Loggerhead Cay #584 2/2 $875K, Sand Pointe #218 2/2 $1.1M.

HOMES

6 new listings: 4577 Brainard Bayou Rd 3/2 $749K, 1600 Sabal Sands Rd 3/2 $1.2M, 1190 Sand Castle Rd 3/2 $1.35M, 9405 Beverly Ln 3/2 $1.485M, 1311 Sand Castle Rd 3/2 $1.495M, 6176 Henderson Rd 4/3 $2.995M.

No price changes.

5 new sales: 5307 Ladyfinger Lake Rd 3/3 listed at $968.5K, 661 Anchor Dr 3/2 listed at $1.295M, 1243 Sand Castle Rd 4/4 listed at $1.745M, 1543 San Carlos Bay Dr 4/4 listed at $2.499M, 2451 Blind Pass Ct 4/4.5 listed at $2.895M.

4 closed sales: 1230 Anhinga Ln 4/2 duplex $699K, 5289 Ladyfinger Lake Rd 3/2 $945K, 402 Tiree Cir 3/2 $1.15M, 645 Oliva St 3/3 $1.301M.

LOTS

No new listings, price changes, or new sales.

2 closed sales: 2829 Wulfert Rd $320K, 1340 Eagle Run Dr $515K.

Captiva

CONDOS

No new listings.

1 price change: Marina Villas #709 2/2 now $1.145M.

3 new sales: Tennis Villas #3128 1/1 listed at $549K, Beach Villas #2635 3/3 listed at $1.6M, Lands End Village #1628 3/4 listed at $3.5M.

No closed sales.

HOMES

No new listings or price changes.

2 new sales: 16280 Captiva Dr 6/6 listed at $8.9M, 15867 Captiva Dr 7/6 listed at $11.7M.

3 closed sales: 30 Urchin Ct 3/2 $1.253M, 57 Sandpiper Ct 2/2 $1.325M, 16611 Captiva Dr 6/6 $7.1M.

LOTS

Nothing to report.

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

Though Sanibel’s spring weather is superb, the islands need rain. Fingers crossed that we get some soon!

Until next Friday, Susan Andrews aka SanibelSusan

85th Annual Shell Show Friday on Sunny Sanibel

 

It’s another happy sunny Sanibel Friday.

The 85th Annual Shell Festival at The Community House was busy again today.

It is open again tomorrow (Sat) from 9 a.m. to 4 p.m. It features more than 60 exhibitors with specimen shells plus shell art, sculpture, mixed media, jewelry, and creative crafts.

 

SanibelSusan Realty Scoop

Here in the office, the team and I have tied up loose ends for upcoming closings, arranged for weekend showings, and again commiserated that we need more listings.

At the Thursday morning local Association of Realtors® Caravan meeting yesterday, there were no new listings announced, no price reductions, and no properties open for viewing. Under the category of “Buyer Wants”, which is when attendees may ask the audience for a property with specific criteria, the resounding answer again was “we need everything.” Buyers continue to be plentiful. Sellers are hard to find.

Next week, the team looks forward to another successful closing and we have our fingers crossed that we make more sales over the weekend. It’s not like buyers have many choices. As of this afternoon, on Sanibel our Multiple Listing Service (MLS) shows 15 condos, 12 homes, and 15 lots for sale. On Captiva, just four condos and seven homes.

Combating the Naysayers

With the world seemingly relying so much on the internet these days, I found the below excerpts from an article published in the Winter 2022 “Realtor” magazine, to be right on. The author is Realtor® Brian Copeland, founder and broker-owner of Doorbell Real Estate in Nashville, TN.

“A 2017 book by Tom Nichols, “The Death of Expertise”, explains how the digital revolution has helped foster a culture of skepticism. Today, everyone has their own truths, and thanks to the internet, we can find sources to back up those “truths,” no matter what they are.

“I’ve been thinking about our culture’s hostility to established knowledge as I fight to defend my own career and the careers of my colleagues, the nation’s 1.5 million Realtors®. I spent months studying to become a real estate agent. In the years since I’ve been able to apply that knowledge and the extensive real-life experience gained along the way to help people navigate a significant variety of complex and technical aspects associated with selling or buying a home.

“And yet frivolous lawsuits and ludicrous accusations swirl around the media from people trying to make a buck off blatantly misleading claims that real estate agents are no longer valuable in the internet-age. Of course, most people who have bought or sold a house remember having a real estate agent by their side every step of the process. Most likely, they had a Realtor® – a member of the National Association of Realtors® – guiding them through everything from price negotiations and lender applications to open houses and final inspection walkthroughs. Most people would prefer to not figure all of that out on their own in the midst of the most complex and consequential financial transaction of their lives.

“Of course, it’s undeniable that the volumes of information made available by the internet have changed the homebuying and home-selling process. What’s also undeniable although less intuitive, is that these transformations have made real estate professionals even more critical. Research shows 88% of those who start their homebuying search online ultimately use a real estate agent as the process moves forward. Just because I have a wealth of medical knowledge at my fingertips doesn’t mean I can diagnose and treat my medical condition. Just because I can buy and sell GameStop stock commission-free on Robinhood doesn’t mean it’s a good idea to lay down my retirement fund without any expert advice.

“The same holds true in the purchase or sale of real estate. Anyone can stake a “for sale by owner” sign in their yard, but it takes more than a quick online search to determine a competitive asking price for your home. And if you don’t want it to sit idly on the market for months, how will you advertise it to buyers?

“Or, if you’re a buyer in today’s hot market with houses selling in a matter of days, do you really expect your offer to stand out compared with those prepared by professionals with local market knowledge? Would you know how to write an offer or ensure that all state and local property transfer laws are being followed? By buying a home, you’re essentially entering a contract on one of the most complicated purchases you’ll ever make. Compare that to what is likely your second most expensive purchase, a car, and you’ll recognize that there’s a lot more to it than kicking the tires, a bit of haggling, and a simple loan application….”

Adding SanibelSusan’s 2-cents: I did not acquire my skills and expertise from watching HGTV. I earned my knowledge over 33 years as a Realtor®, by helping hundreds of friends, neighbors, community members, and island-lovers buy and sell property. My team and I are experts, just as a teacher is to students or a doctor is to patients.

My teammate son David has been a Realtor® for ten years, his wife Lisa for 15 years, and our assistant Elise has been licensed for 19 years. We have worked together on every SanibelSusan transaction since long-before we opened our own office in 2004. On the islands, we have successfully closed 559 sales.

Why a Mortgage Rate Drop? Probably Due to Russia

Posted online yesterday at FloridaRealtors® and sourced to “How Russia Invading Ukraine Could Impact U.S. Interest Rates”, The Mortgage Reports (Mar 1, 2022):

“Analysts still expect mortgage rate increases this year due to Fed actions, but investors flock to bonds when they get jittery – and that often lowers mortgage rates.

“NEW YORK – U.S. mortgage rates have risen this year and are expected to continue doing so, but the conflict between Russia and Ukraine could throw a wild card into those projections.

“The 30-year fixed-rate mortgage climbed by 37 basis points over the first two full weeks of February, according to Freddie Mac. But last week, as Russia invaded Ukraine, rates dropped to 3.89% for the 30-year fixed-rate mortgage, and down to 3.76% this week.

““When global investors sense increased uncertainty, there is a ‘flight to safety’ in the U.S. Treasury bonds, which causes their prices to go up, and their yield to go down,” says Odeta Kushi, deputy chief economist at First American. “Consequently, amidst heightened uncertainty due to the worsening events in Ukraine, there is a possibility that investors flocked to U.S. Treasury bonds, which may result in a temporary, short-term decline in mortgage rates.”

“The Federal Reserve announced it would be raising its funds rate multiple times this year and says it will address this more at its next meeting, March 15 and 16.

“However, the Fed also didn’t consider the Russia-Ukraine conflict before announcing moves planned for this year. As a result, the Fed could change how aggressive it is with rates, according to The Mortgage Reports.

The Fed’s key rate does not directly affect mortgage rates, but it can influence them.”

Sanibel & Captiva Islands Multiple Listing Service Activity February 25-March 4, 2022

Sanibel

CONDOS

2 new listings: Mariner Pointe #323 2/2.5 $649K, Kings Crown #117 2/2 $1.65M.

1 price change: Junonia #301 4/2 now $2.65M.

2 new sales: Mariner Pointe #733 2/2 listed at $699,999; Pelicans Roost #202 2/2 listed at $1.295M.

4 closed sales: Sundial #G104 2/2 $845K, Sand Pointe #222 2/2 $1.125M, Pelicans Roost #104 2/2 $1.299M, Compass Point #141 3/2 $1.407M.

HOMES

8 new listings: 1072 Blue Heron Dr 3/2 $949K, 5307 Ladyfinger Lake Rd 3/2 $968.5K, 917 Pepper Tree Pl 4/3 $1.399M, 1194 Sand Castle Rd 3/2.5 $1.425M, 1174 Harbor Cottage Ct 3/3 half-duplex $1.45M, 1243 Sand Castle Rd 4/4 $1.895M, 5817 Sanibel-Captiva Rd 4/3 $1.993M, 488 Lighthouse Way 4/4 $5.995M.

1 price change: 3324 Saint Kilda Rd 4/4 now $3.5M.

10 new sales: 1196 Sand Castle Rd 2/2 listed at $899K, 3015 Singing Wind Dr 2/2 listed at $959K, 430 Lake Murex Cir 2/2 listed at $1.149M, 824 Birdie View Pt 3/3 listed at $1.725M, 911 S. Yachtsman Dr 3/3 listed at $2.485M, 885 Limpet Dr 4/3 listed at $3.25M, 4322 West Gulf Dr 4/3.5 listed at $3.295M, 543 East Gulf Dr 2/2 listed at $3.5M, 444 Lighthouse Way 5/4.5 listed at $3.595M, 1349 Bay Dr 4/4 listed at $6.395M.

7 closed sales: 567 Rabbit Rd 2/2 $795K, 4239 Gulf Pines Dr 3/2 $939K, 1133 Sand Castle Rd 3/2 $1M, 697 Birdie View Pt 3/2 $1.495M, 4737 Rue Belle Mer 3/2 $1.62M, 857 Birdie View Pt 3/2.5 $1.745M, 1360 Eagle Run Dr 5/3.5 $2.325M.

LOTS

2 new listings: 5085 Joewood Dr $4.25M; West Gulf Dr $5.995M.

No price changes.

1 new sale: 1836 Ardsley Way listed at $625,555.

1 closed sale: 1332 Eagle Run Dr $488K.

Captiva

CONDOS

2 new listings: Bayside Villas #4122 1/2 $595K, Beach Villas #2633 2/2 $1.399M.

No price changes or new sales.

2 closed sales: Sunset Beach Villas #2236 2/2 $1.325M, Beach Homes #20 3/3 $4.25M.

HOMES

1 new listing: 16221-16217 Captiva Dr 5/5.5 $7.25M.

No price changes or new sales.

3 closed sales: 14865 Mango Ct 2/2 $1.25M, 16813 Captiva Dr 3/3 $3.5M, 11548 Wightman Ln 4/4.5 $7.3M.

LOTS

Nothing to report.

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

It’s expected to be a sunny and in the low-80’s for at least the next week here. Gotta love winters in paradise.

With it being so dry, gulf and bay waters are settling into the bright teal color that so many of us love.

Enjoy your weekend!

Susan Andrews, aka SanibelSusan

Sanibel Friday, with sunshine, some sweet successes & smiles!

Image

Susan here, once again touting Florida’s wonderful summerlike weather, alerting you about the traffic, and complaining that we don’t have enough inventory for the many buyers looking to rent or buy on the islands.

Below is an update of the island inventory today (Feb 25, 2022, data from Sanibel & Captiva Islands Multiple Listing Service). After that are a few news items, followed by all the action posted since last Friday in the MLS.

Looking at just residential property, only 15 condos, 13 homes, and 12 lots are for sale on Sanibel. Just 2 condos and 6 homes on Captiva. With 84 closed sales and another 95 properties under contract, the sellers’ market continues to thrive.

 

 

Status

SANIBEL CAPTIVA
Condos Homes Lots Condos Homes Lots
# Avg $ # Avg $ # Avg $ # Avg $ # Avg $ # Avg $
For sale 15 1,547,733 13 2,929,846 12 588,583 2 1,397,500 6 8,665,833 0 N/A
Under contract 25 971,694 43 1,708.439 11 531,363 7 1,457,785 9 4,262,666 0 N/A
Sold to-date 2022 39 946,106 34 1,700,794 4 988,500 5 1,513,800 2 4,084,750 0 N/A
Sold 2021 287 875,127 355 1,341,881 69 698,862 64 1,150,373 44 2,988,520 2 2,950,000
Sold 2020 192 733,876 290 954,718 23 606,233 47 821,713 27 2,923,148 4 2,537,500

SanibelSusan Realty Scoop

Here at the office, we continue to get buyer requests. It was great to put another home under contract on Sunday. On the other hand, it really hurt Monday when I had to tell a long-time visitor with a budget of $1M, that there are only three Sanibel condos and one home for sale with that price limit. Those listings probably would already be under contract, but they are occupied with guests so difficult to show.

One of our last sales was on the typical “as is” contract with a 15-day inspection/cancellation. The property is a seasonal rental and as luck would have it, the 15-day period coincided exactly with a renter reservation. So, after making nice with the property manager, we delivered a note of appreciation with $ to the guests, thanking them for their cooperation in allowing the inspector, buyer and their Realtor® to come in during their stay. A few days after that, it was a nice surprise to get a text from that guest saying they used the gift toward a meal out at their favorite island restaurant. She included a couple of beach photos from their stay too. Island visitors really are the best!

We were happy to have another closing this morning and continue to beat the bushes looking for new listings. Dave and Elise got half of our huge annual bulk mailing out yesterday. The other half is in the works. Every Saturday, Lisa updates our island inventory summary, so any time you want a copy, either mailed or emailed, just let us know. It includes all the residential property posted in both the local and regional MLS for Sanibel and Captiva. In addition to what is currently available, it also shows the properties under contract and recent sale prices. Some are jaw-dropping!

Sanibel & Captiva Islands Association of Realtors®

Yesterday, was the February Monthly Membership Meeting of the local Association of Realtors®. James Evans, new CEO of the Sanibel-Captiva Conservation Foundation (SCCF) was the guest speaker. James has a wonderful history on the islands from when he first began working for the city, two decades ago, as Natural Resource Director. He later was SCCF Environmental Policies Director, when last November, he was selected as their new CEO, a position he assumed in January.

James reminded the audience that SCCF began in 1967 and today owns/manages ~2,000 acres, about 1,200 on Sanibel, with about 2/3 in conservation. A whopping 84 acres were added in 2021. In 2019, the Sanibel Sea School merged with SCCF. Other upcoming changes include the installation of new RECON (River, Estuary, Coastal Observing Network) 2.0 sensors and a cooperative agreement with data sharing from SCCF’s Marine Lab and the Center for Coastal Solutions (CCS) at the University of Florida.

James also encouraged Realtors® and the public to attend the March 10 South Florida Water Management District governing board meeting which will be held at The Community House. It begins at 9 a.m. Islander Chauncey Goss, chairs that board.

During the general announcements section of the meeting, no new listings were announced, no price reductions, and only one home was open for Realtor® Caravan viewing.

Sanibel Island Crime

Though not our favorite subject, it was informative to read the Police Chief’s annual report to the City Manager which was posted on-line this week on www.MySanibel.com. Here are some excerpts:

“In 2021, more than 3.5 million vehicles came through the Sanibel Causeway. This number is the highest amount ever, and 19% higher than our five-year average (2016-2020) of 3.3 million. This increase in people visiting our island was statistically significant and drove many of the changes you will see in the following pages…

“Analysis of the 2021 data shows a slight increase of 7% in the overall number of federally reportable crimes over our five-year average of 71 to 76 in 2021. Within the federally reported offenses, there are several noteworthy statistics. The reports of vehicle thefts were up by 1, with 1 in 2020 and 2 in 2021. There was a 44% decrease in reported burglaries from 16 in our five-year average to 9 in 2021. There was a 2% increase in thefts from 43 in our five-year average to 44 in 2021.

“The total non-Federally reportable crimes include reported crimes, such as trespass, drug violations, DUI, criminal traffic violations, criminal mischief, and harassment. This crimes category also includes City ordinance violations and criminal citations. The total number of crimes reported in 2021 was 910 which is a 28% increase over our five-year average of 713.

“We experienced a significant number of DUI arrests, up 50% from 18 in our five-year average to 27 in 2021…

“Similar to past years, 19% of those arrested on Sanibel were residents of Sanibel, 51% were from other areas in Lee County, 12% were from different locations in Florida, and 19% were from all other states. These were no arrests of non-U.S. citizens….”

How ‘Tax-Friendly’ Is Florida Compared to Other States?

Posted Wed, Feb 23 at FloridaRealtors® on-line. Sourced to WFLA, Nexstar Broadcasting, Inc.

“A MoneyGeek study including IRS, state, property and sales taxes listed Fla. as the No. 4 least-expensive tax state. Total tax costs are about 5.6% of total income.

“TAMPA, Fla. – It’s tax filing season and depending on where you live in the U.S., you could be forking over a very different-sized chunk of your income. An analysis by MoneyGeek ranked every state by how “tax-friendly” it is. The analysts didn’t just look at income tax – they also factored in property taxes, plus state and local sales taxes.

“To determine where people pay the highest tax burden, MoneyGeek looked at a hypothetical average family: a married couple with one kid, earning the median national income of $82,852, owning a $349,400 home. The study breaks down how much this fictional family would pay in taxes in every state.

“The states with the lowest tax burden, according to the analysis, were:

  • Wyoming (estimated taxes: 4% of income or $3,279)
  • Nevada (estimated taxes: 4.7% of income or $3,879)
  • Alaska (estimated taxes: 5.4% of income or $4,507)
  • Florida (estimated taxes: 5.6% of income or $4,632)
  • Tennessee (estimated taxes: 6.5% of income or $5,377)
  • Washington (estimated taxes: 6.5% of income or $5,414)
  • North Dakota (estimated taxes: 6.7% of income or $5,556)
  • Arizona (estimated taxes: 6.8% of income or $5,665)
  • South Dakota (estimated taxes: 7.2% of income or $5,938)
  • Delaware (estimated taxes: 7.3% of income or $6,074)

“The states with the highest tax burden were:

  • Illinois (estimated taxes: 16.8% of income or $13,894)
  • Connecticut (estimated taxes: 15.1% of income or $12,545)
  • New Jersey (estimated taxes: 14.3% of income or $11,872)
  • New Hampshire (estimated taxes: 14.1% of income or $11,694)
  • New York (estimated taxes: 13.9% of income or $11,495)
  • Iowa (estimated taxes: 13.8% of income or $11,398)
  • Wisconsin (estimated taxes: 13.2% of income or $10,976)
  • Vermont (estimated taxes: 12.6% of income or $10,453)
  • Nebraska (estimated taxes: 12.6% of income or $10,446)
  • Michigan (estimated taxes: 12.4% of income or $10,239)

“Based on its analysis, MoneyGeek also gave every state a letter grade on its “tax friendliness.” The states with A grades have the lowest tax burden on an “average” family, while the states with D or E grades have the highest tax burden. MoneyGeek’s estimates only hold true for that hypothetical family,earning about $82,000 a year with a $349,000 house. A family who just bought a $1 million house in California would probably be paying a lot more in taxes, while a single person earning $40,000 in Texas would be paying less.”

Sanibel & Captiva Islands Multiple Listing Service Activity February 18‑25, 2022

Sanibel

CONDOS

1 new listing: Pelicans Roost #202 2/2 $1.295M.

2 price changes: Gulfside Place #210 2/2 now $1.499M, Junonia #301 4/2 now $2.75M.

2 new sales: Tennisplace #D33 1/1 listed at $425K, Pelicans Roost #104 2/2 listed at $1.299M.

4 closed sales: Villa Sanibel #1D 2/2 $810K, Blind Pass #F203 3/2 $845K, Sundial #M303 2/2 $1.275M (our listing), Pointe Santo #D37 2/2 $1.395M.

HOMES

4 new listings: 3015 Singing Wind Dr 2/2 $959K, 5435 Osprey Ct 4/3.5 $2.4M, 911 S. Yachtsman Dr 3/3 $2.485M, 5089 Joewood Dr 5/5 $5.75M.

No price changes.

6 new sales: 707 Durion Ct 2/2 listed at $985K, 4563 Brainard Bayou Rd 3/2 listed at $1.35M, 1178 Harbor Cottage Ct 3/3 half-duplex $1.395M, 2620 West Gulf Dr 3/2 listed at $1.395M, 3716 Coquina Dr 3/2 listed at $1.395M (our buyer), 5435 Osprey Ct 4/3.5 listed at $2.4M.

3 closed sales: 593 Lake Murex Cir 3/3 $1.395M, 5415 Osprey Ct 3/3 $2.525M, 435 Bella Vista Way E 3/3 $4.8M.

LOTS

No new listings or price changes.

2 new sales: 2486 Wulfert Rd listed at $229K, 2356 Wulfert Rd listed at $280K.

No closed sales.

Captiva

CONDOS

No new listings or price changes.

1 new sale: Beach Cottages #1404 2/2 listed at $1.4975M.

1 closed sale: Captiva Hide-a-Way #1A 2/2 $1.45M.

HOMES

No new listings or price changes.

1 new sale: 11549 Wightman Ln 3/4 listed at $3.395M.

1 closed sale: 5 Sunset Captiva Ln 2/2.5 $3.375M.

LOTS

Nothing to report.

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

Below is our ad from today’s “Island Sun”.

Until next Friday, enjoy your weekend & here’s hoping your days also are sunny & full of smiles!

Happy Super Bowl Sunday & Valentine’s Day Monday… Have a Great Week!

It’s time for another Friday update from SanibelSusan. Following a semi-chilly first few days, the week here is wrapping up with beautiful sunny weather today – temperatures in the low 70’s.

Boardwalk to gulf at Sanibel Moorings

At SanibelSusan Realty, we had another listing go under contract over the weekend, prepared for a couple of upcoming closings and our big annual mailing which is at the printer. I also met with another owner thinking of selling and spent several hours looking at communities with prospective buyers.

There is little inventory available for actual showings. Those that come on the market, priced right, are getting multiple cash offers, many over asking prices and with few, if any, contract contingencies. It is challenging to be a buyer in this hot sellers’ market. As of this afternoon, on Sanibel, according to the island MLS, there are just 14 condos and 14 homes for sale. Usually in February, there are a hundred plus.

Yesterday at the Association of Realtors® weekly Caravan Meeting, there were no properties open for viewing and no new listings announced. First time that has happened in my 30 years attending those meetings.

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

Sanibel City Council to Host Town Hall Workshop

The following was excerpted from an on-line post today by The Community House:

Sanibel City Council has announced a Town Hall Workshop scheduled from 6 to 8 p.m. Tues, Feb 15, 2022, at the Sanibel Community House, 2173 Periwinkle Way.

As Council prepares to conduct a Strategic Planning Retreat in March, they invite Sanibel residents to attend the workshop to offer input about locally controlled issues they deem imperative to the long-range planning for the City.

The two-hour workshop will be divided into three primary areas of discussion:

  • Environment
  • Community
  • Business & City Infrastructure

Meeting Format: Following opening comments by Mayor Holly D. Smith, residents will be provided an opportunity to speak about issues within the primary areas of discussion listed above. Approximately 40 minutes will be allocated for resident input within each area of discussion.

Prior to the workshop, residents may provide City Clerk Scotty Lynn Kelly with position papers, presentations, letters, etc. via email at Scott.Kelly@MySanibel.com. All presentations and submissions will become part of the workshop public record and be used to provide the City Council with detailed information about residents’ concerns and issues. This information can be provided in lieu of speaking during the Town Hall Workshop or as a supplement to public comments.

Speakers must adhere to the following procedures when addressing the City Council:

  • Public Comment Cards – All residents who wish to speak at the workshop must fill out a public comment card provided by the City. A fillable and printable public comment card may be accessed by clicking this link; blank public comment cards will also be available at the workshop.
  • Order of Speakers – Speakers will be called in the order announced by City Manager Dana Souza, within each individual discussion topic area.
  • Recognized Speakers – Only the speaker recognized by the Mayor has the floor and must be at a microphone to speak. Councilmembers may ask clarifying questions of speakers.
  • Topics – Speakers should focus on issues, not on persons or personalities.
  • Name – All speakers must state their name into the microphone before speaking.
  • Time Limit – Length of individual public comments is expected to be five minutes per speaker. City Council reserves the right to limit the length of individual public comments to ensure maximum participation from the public.

Audience members should respect the following meeting rules:

  • Sidebar Discussions – Sidebar discussions are not permitted during the Town Hall Workshop. Persons wishing to speak with other members of the public during the workshop should exit the room to hold their conversation.
  • Decorum – Anger, rudeness, ridicule, impatience, and lack of respect for others are not acceptable behaviors. Demonstrations in support or opposition to a speaker or idea such as clapping, cheering, booing, hissing, or intimidating body language are not permitted.

Sanibel residents who are not able to attend the workshop may listen to the meeting live on the City’s website www.mysanibel.com.  Click here to access the Feb 15 workshop agenda.

COVID Migration: Who’s Moving to Fla. and Why?

Posted Tuesday on FloridaRealtors® and sourced to “The Palm Beach Post”, by Kimberly Miller

“WEST PALM BEACH, Fla. – Extraordinary events have forever pushed and pulled and pressured U.S. population shifts, from gold lust to the citrus rush to the restless return of WWII soldiers to revolutions in foreign lands and civil war on southern soil.

“Now there is COVID-19, which has turned a years-long trickle to Florida from the northeast into a deluge. More than 547,000 people exchanged out-of-state driver’s licenses last year for ones with Sunshine State addresses. That’s a 40% increase from 2020 and nearly 20% greater than the five-year average between 2017 and 2021.

The license swaps – largely from New York (11%), New Jersey (6%) and foreign countries (14%) – are acutely felt in Florida real estate markets where inventory is anemic and prices aggressive. The median sale price on Palm Beach County single-family homes ended 2021 at nearly half-a-million dollars with the average price pushing seven figures.

“Demographers believe the relocations are no tropical dalliance because a driver’s license switch is a sign of determination to make Florida home, even if hurricane season and August’s sweltering humidity are spent in cooler climes away from storms and sticky air.

““Unquestionably the COVID impact was the trigger,” said Related Cos. President Ken Himmel about the influx of people and businesses to Florida and Palm Beach County specifically. “Unquestionably, COVID turned the switch on full blast.”

“While the bullseye markets, such as Palm Beach County, may experience the ache of rising rents and home prices until inventory increases, growth experts were reluctant to say the COVID migration on a nationwide scale will make history. Some move to the suburbs was already happening as millennials age. A bump in retirees was also expected, although it was likely expedited by the Great Resignation/Retirement, the euphemism signaling massive waves of frustrated workers and Baby Boomers exiting the job market. Vanderbilt University Assistant Finance Professor Peter Haslag said COVID-related dispersions are more geographically diverse than past migrations, diluting long-term impacts.

“For Florida, migration is tradition. “Migration to Florida is an old story,” said University of Washington professor and historian James Gregory in an article for America’s Great Migrations Project that noted the early 1900s citrus and land boom in the state. “More than any other state, Florida has consistently attracted newcomers.”

Of the 61,728 New Yorkers who in 2021 handed over Empire State driver’s licenses for a Florida license, 19,100 or 31% got IDs with Broward, Miami-Dade or Palm Beach County Zip codes. Palm Beach County accounted for 8,107 of the transplants, the largest share of any county in the state.

“Outside of the Gold Coast counties of southeast Florida, a weighty exchange of New York licenses last year also occurred in Orange (4,203), Hillsborough (3,746), Lee (2,672), Pinellas (2,335) and Sarasota (2,149) counties….”

Sanibel & Captiva Islands Multiple Listing Service Activity February 4-11, 2022

Sanibel

CONDOS

4 new listings: Captains Walk #C5 2/1 $549K; Mariner Pointe #733 2/2 $699,999; Pointe Santo #B44 2/2 $1.45M; Junonia #301 4/2 $2.99M.

1 price change: Blind Pass #D102 2/2 now $685K.

7 new sales: Sanibel Moorings #1411 1/1 listed at $525K, Sandalfoot #5B1 1/1 listed at $768K, Sanibel Inn #1E 2/2 listed at $850K, Lighthouse Point #112 3/2 listed at $864K, Loggerhead Cay #584 2/2 listed at $895K, Sanibel Moorings #122 2/2 listed at $1.2M (our listing), Compass Point #162 2/2 listed at $1.85M.

Sanibel Moorings #122, view from one of the balconies.

5 closed sales: Sundial #C305 1/1 $549,945; Ibis at The Sanctuary#A101 2/2 $669K, Sanibel Moorings #1132 2/2 $803K, Tarpon Beach #106 2/2 $1.06M, Yacht Haven #2 3/2 $1.475M.

HOMES

3 new listings: 320 Palm Lake Dr 2/2 $925K, 2620 West Gulf Dr 3/2 $1.395M, 4972 Joewood Dr 4/3.5 $3.72M.

2 price changes: 885 Limpet Dr 4/3 now $3.25M, 4322 West Gulf Dr 4/3.5 now $3.295M.

7 new sales: 1230 Anhinga Ln 4/2 duplex listed at $699K, 4560 Brainard Bayou 3/2 $829K, 799 Casa Ybel Rd 5/3 duplex listed at $850K, 1398 Jamaica Dr 2/2 listed at $895K, 1053 Seahawk Ln 3/2 listed at $1.195M, 4636 Bowen Bayou Rd 3/2 listed at $1.725M, 2276 Starfish Ln 4/3.5 listed at $2.395M.

3 closed sales: 5307 Ladyfinger Lake Rd 3/3 $840K, 458 Lake Murex Cir 3/2 $935K, 853 Tulip Ln 3/2 $1.735M, 1304 Seaspray Ln 3/2.5 $4.275M.

LOTS

No new listings or price changes.

2 new sales: 1340 Eagle Run Dr listed at $520K, 845 Pyrula Ave listed at $525K.

1 closed sale: 4767 Tradewinds Dr $2.05M.

Captiva

CONDOS

1 new listing: Bayside Villas #5226 1/2 $625K.

No price changes.

1 new sale: Captiva Hide-A-Way #1A 2/2 listed at $1.35M.

1 closed sale: Beach Homes #2 3/3 $3.125M.

HOMES

1 new listing: 11549 Wightman Ln 3/4 $3.395M.

1 price change: 15867 Captiva Dr 7/6 now $11.7M.

1 new sale: 30 Urchin Ct listed at $1.495M.

No closed sale.

LOTS

Nothing to report.

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

Below is our ad from today’s “Island Sun”.

Enjoy your Super Bowl Sunday & best wishes for a Happy Valentine’s Day on Monday!

Til next Friday,

Susan Andrews, aka SanibelSusan

Another Wild Week in the Real Estate World

As you probably have seen on the news, Southwest Florida received local and national weather alerts early Sunday morning when the cool front passing through showed signs of rotation and tornado activity. With significant damage on the mainland along a stretch beginning just north of the outlet mall, it was a surprise that here on the islands, there was essentially no damage. Astounding also that the tornado was only on the ground for a few minutes and could create so much devastation. Always heed those weather alerts!

At SanibelSusan Realty

At the office, our two closings coming up early next week are in good shape, while several others occurring later also are finalizing action items. Our worry is what do we sell when inventory is gone and there is nothing left to sell. Below is an update of island inventory today. (Data from the Sanibel & Captiva Islands Multiple Listing Service as of Jan 21, 2022.) On Sanibel, just 13 condos, 15 homes, and 4 lots for sale. On Captiva, 4 condos and 7 homes.

 

 

Status

SANIBEL CAPTIVA
Condos Homes Lots Condos Homes Lots
# Avg $ # Avg $ # Avg $ # Avg $ # Avg $ # Avg $
For sale 13 1,134,446 15 3,015,800 16 542,937 4 2,672,250 7 6,940,714 0 N/A
Under contract 23 995,582 33 1,596,606 9 833,444 3 1,073,000 4 4,370,750 0 N/A
Sold to-date 2022 9 902,666 12 1,539,583 1 640,000 1 1,075,000 0 N/A 0 N/A
Sold 2021 287 875,127 355 1,341,881 69 698,862 64 1,150,373 44 2,988,520 2 2,950,000

The meeting I had last Saturday with condo owners resulted in a new listing. With inventory so low, it is no surprise that we have received many inquiries. In a normal market selling quickly could be a challenge as there is a paying guest there for an extended visit. This market is hardly normal, though. Sight-unseen offers are not unusual.

Early in this week, within hours of its posting on MLS, I wrote an offer on a condo in another complex. It provides another good example of how hot the market is. These buyers are not in town, but would like the opportunity to have an inspection, so the offer was written on the “as is” contract with significant deposits, willingness to honor future rental bookings, and at just under asking price (which was $50K+ more than the last comparable recent sale in the same community). Listing agent said we lost out that night to multiple cash offers, several over asking price.

The same situation is happening all over the state. This week, a FB friend and long-time Realtor® on the other coast, posted what is a great example of how a transparent caring Realtor® works. He said this note recently was sent to him after an offer submitted:

“I am very sorry to have to tell you that the seller selected another offer. We received 66 offers. I saw how much each buyer loved this house and wanted it to be theirs. Everyone submitted excellent offers. In another market, your offer price would have sufficed to secure the house. Unfortunately, this real estate market, with a lack of inventory and high buyer demand, makes it very, very competitive. I feel for each and every one of you. I had my own buyers who didn’t get this house. I know how hard it is for buyers now. We just never know who our competition will be. In this case, the median offer price was $440,000. This means that 33 houses offered less than $440,000 and 33 houses offered more than $440,000. We received 10 offers at $450,000. The winning offer was higher and cash. It was hard to beat. If by some chance the property becomes back on the market, I will immediately let you know. I thank you for your interest in this house and for your offer. I hope you find your new home soon.”

So, for those thinking of buying now, particularly in Florida, it is essential that you act fast and have the best terms in your offer.

The details on the activity since last Friday in the islands MLS are after a couple of news items below.

Sanibel & Captiva Islands Association of Realtors®

Our Association Executive Bill Robinson & RPAC Committee Co-Chair Dave Arter with the awards.

Congratulations to our local Association of Realtors®.

Wednesday night at the Florida Realtors® Mid-Winter Business Meetings at the state PAC Awards Reception, the Sanibel & Captiva Islands Association won several awards – Highest Total Cash by a Small Board, Highest Percentage of Goal by a Small Board, and Highest Participate Rate by a Small Board.

Congratulations to our Associations and the others who took home awards.

Florida Realtors Mid-Winter Business Meetings

I found a few minutes this morning to Zoom in on the Florida Realtors® Legal and Professional Standards Update meeting taking place at the state Mid-Winter Business Meetings in Orlando. You probably know that I love contract details so didn’t hear anything new there, but did find it interesting when Marcia Tabak, Florida Realtors® Deputy Legal Counsel provided some details on the increase in Florida real estate licenses this year.

If you didn’t already know, Florida was – and still is – the state with the most Realtors®, sometime years jockeying back and forth with California on which one has the most. Marcia said that today, DBPR (Florida’s Department of Business and Professional Regulation) reports that over 450,000 state licenses have been issued. Of those licenses, 218,000 are for real estate sales associates (like Dave, Lisa, and Elise), 22,000 are broker associates, and 42,000 are brokers (like me).

According to the Florida Real Estate Commission, in December, 4,760 applicants took the test for a real estate license here. That’s an increase from the previous year. Anyone wanting to check on a licensee status can do that at DBPR’s website, www.MyFloridaLicense.com.

Age is Just a Number

Another tidbit that I heard today is that the average age in Florida is 42. That’s not a new number, but illustrates that Florida is not just for retirees. In fact, with the increase in Florida sales during the pandemic, that number may be getting smaller. FYI, the highest average age is in my home state of Maine, where it is a little more than age 45. Come to Florida where age is just a number, more specifically to the islands where outdoor life is enjoyed year-‘round.

New Eats on the Island

Today is the grand opening of Tutti Pazzi in the former location of Matzaluna Italian Kitchen at 1200 Periwinkle Way.

Advertised as a family-friendly Italian kitchen serving pasta, seafood, and pizza, the locals who attended their soft opening Wed night, said the food is fabulous.

So, be sure and try out some of the new restaurants on Sanibel.

Sanibel & Captiva Islands Multiple Listing Service Activity January 14-21, 2021

Sanibel

CONDOS

2 new listings: Loggerhead Cay #584 2/2 $895K, Sundial #M303 2/2 $1.249M (our listing). (A couple of pix by our photographer Jim Anderson with JMA Photography below. The first an aerial of Sundial Resort, followed by the path to the beach.)

No price changes.

5 new sales: Kimball Lodge #303 1/2 listed at $795K; Blind Pass #F203 3/2 listed at $839,555; Sundial #G104 2/2 listed at $875K; Sandalfoot #5A2 2/2 listed at $1.275M; Cyprina Beach #7 3/3 listed at $1.749M.

6 closed sales: Blind Pass #E103 3/3 $775K, Kimball Lodge #303 1/2 $795K, Sanibel Inn #3421 2/2 $900K, Lighthouse Point #212 3/2 $929K, Pointe Santo #A21 2/2 $1.15M, Sundial #R402 2/2 $1.2M.

HOMES

2 new listings: 4563 Brainard Bayou Rd 3/2 $1.449M, 489 Sawgrass Pl 5/5 $2.15M.

1 price change: 1398 Jamaica Dr 2/2 now $895K.

1 new sale: 9472 Balsa Ct 2/2 listed at $765K.

6 closed sales: 804 Rabbit Rd 2/1 $490K, 2114 Egret Cir 3/2 $773K, 966 Whelk Dr 3/2 $1.33M, 1347 Jamaica Dr 2/2 $1.4M, 856 Limpet Dr 4/2.5 $2M, 699 Anchor Dr 4/4 $2.395M.

LOTS

No new listings or price changes.

4 new sales: 1332 Eagle Run Dr listed at $499K, 638 Lake Murex Cir listed at $565K, 3304 Saint Kilda Rd listed at $599K, 4767 Tradewinds Dr listed at $2.149M.

No closed sales.

Captiva

Nothing to report.

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

Below is our ad from today’s “Island Sun”.

Until next Friday, Susan Andrews, aka SanibelSusan

Read On to Find Out Why the Magic Number Today is 12

It is that time of the year when Floridians are especially grateful to be here. Though a cool front sometimes comes through in the winter, the weather here sure tops what is happening elsewhere.

One of those fronts just came through the islands. Though sunny and bright, it is breezy with temperatures only up into the high 60’s. Do visitors still fill the bike paths and beaches in their shorts and tee-shirts, “yes”. Meanwhile, locals are enjoying more fresh air and relish a chance to wear their long sleeves and an occasional sweater or jacket.

At the office, we continue to finalize action items for our upcoming closings and get ready for our big annual inventory mailing. If you are not already on our mailing list and want a copy of this report, please send your request to Susan@SanibelSusan.com. We update the islands residential inventory list (Sanibel & Captiva condos, homes, & lots) every weekend, so have it available anytime and email it often, but the bulk hardcopy mailing only goes out once a year (saving trees & $). It will go out in early February. (The data is from the local Multiple Listing Services as well as the county tax records.)

Yesterday afternoon, teammate Dave listed his in-laws off-island investment property. He probably set a record for a quick sale. Following several immediate inquiries/offers, he had it successfully under contract by 8 p.m.

So, as we continue to market for new listings, today the magic inventory number is 12. According to the Sanibel & Captiva Islands Multiple Listing service, now there are just 12 condos and 12 homes for sale on Sanibel, while on Captiva, there are 12 in total (4 condos plus 8 homes).

With most colleagues having buyers waiting in the wings, it is tough convincing those prospects that it is going to take a very long time for supply to meet demand. Meanwhile, the strong sellers’ market continues. I am meeting with condo owners tomorrow. Hopefully a new listing follows.

Florida Realtors® Mid-Winter Business Meetings

Last Friday, I attended the Florida Realtors® Resort and Second Home Think Tank meeting via Zoom. During that meeting, Kate Chunka, Vice Present of Industry Engagement at “Visit Florida” provided an update on that agency’s efforts including some interesting statistics. She said that every dollar spent results in $3.27 in tax revenue. Nearly 40% of that in 2020 was the impact of the pandemic on tourism with the third quarter last year exceeding any previous year. In 2021, from first through third quarter, 91.5 million visitors came to Florida. Numbers now are starting to exceed 2019 which was the highest recorded ever. For FY 2022-2023, a $50 million budget has been recommended.

Next, Florida Realtors® Vice President of Law/Policy and General Counsel, Juana Watkins provided an update on the legal options to address local short-term rental ordinance. That has become a huge problem in some areas. Luckily Sanibel and Captiva are proactive in that regard.

A legislative update then was provided by Andy Gonzalez, Florida Realtors® Public Policy Representative. He said, this week legislators are back in session in Tallahassee. On the Senate agenda is a discussion regarding short-term rentals.

He asked Realtor® Broker Marilue Maris from Walton County in the Panhandle to tell us how access to the gulf there is regulated. She described how beach access and use by the public is limited to only the areas of “wet” sand, with security guards sometimes patrolling to ensure that non-property owners don’t settle their chairs or blankets in dry areas. Wow!

Next week, I will be attending a “Florida Real Estate Trends” update by Florida Realtors® Chief Economist Dr. Brad O’Connor. He is scheduled to update policymakers, residents, and Realtors® on what is ahead in 2022. Real estate drives Florida’s economy and as the COVID-19 pandemic continues into its second year, it sure would be nice to know what lies ahead.

Also on the agenda next week are the Forms Content Committee meeting, and Legal and Professional Standards Update – also good stuff to stay up on.

Sanibel & Captiva Islands Association of Realtors®

Tuesday was the first 2022 meeting of the local Association’s Professional Development Committee. Many educational classes for members already are scheduled with the focus of this meeting speakers for the upcoming monthly membership meetings. The first of those is February 24.

Our annual Realtors® lnstallation and Awards Breakfast was early yesterday at The Community House. Attendance was lighter than in normal times, but it was great to see many familiar faces in-person for the first time in more than two years.

Congratulations to the incoming Board of Directors and Officers (shown in the Association photo above) and the many “of the year” awards including 2021 Honor Society recipients (my 29th year).

Though 2021 was a record one for island sales, we all hope that 2022 will be safer, less stressful – and that there will be more product to sell. The details on the activity posted since last Friday in the islands MLS are below.

Sanibel & Captiva Islands Multiple Listing Service Activity January 7‑14, 2021

Sanibel

CONDOS

1 new listing: Sundial #G104 2/2 $875K.

2 price changes: Mariner Pointe #421 2/2.5 now $759K, Sunset South #11C 2/2 now $1.095M.

No new sales.

1 closed sale: Pointe Santo #C3 3/2 $1.095M.

HOMES

No new listings.

1 price change: 3324 Saint Kilda Rd 4/4 now $2.995M.

9 new sales: 804 Rabbit Rd 2/1 listed at $499K, 458 Lake Murex Cir 3/2 listed at $925K, 1133 Sand Castle Rd 3/2 listed at $945K, 1251 Sand Castle Rd 4/3 listed at $1.05M, 4737 Rue Belle Mer 3/2 listed at $1.6M, 719 Periwinkle Way 4/3 listed at $1.895M, 500 Kinzie Island Ct 3/3 listed at $2.295M, 5415 Osprey Ct 3/3 listed at $2.495M, 1360 Eagle Run Dr 5/3.5 listed at $2.695M.

1 closed sale: 1278 Sand Castle Rd 4/3 $1.526M.

LOTS

1 new listing: 845 Pyrula Ave 525K.

No price changes or new sales.

1 closed sale: 3308 Saint Kilda Rd $640K.

Captiva

CONDOS

No new listings.

1 price change: Land End Village #1659 2/2 now $1.345M.

1 new sale: Sunset Beach Villas #2236 2/2 listed at $1.3M.

1 closed sale: Gulf Beach Villas #2122 2/2 $1.075M.

HOMES

No new listings or price changes.

1 new sale: 57 Sandpiper Ct 2/2 listed at $1.399M.

No closed sales.

LOTS

Nothing to report.

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

Below is our ad from today’s “Island Sun”.

Enjoy your weekend! Susan Andrews, aka SanibelSusan

The SanibelSusan Team is Grateful! Another Listing Sold Christmas Eve Morning!

After a couple of breezy days earlier in the week, the cool front now has passed through Florida. It caused more winter-like temperatures with lows into the 60’s both Tues and Wed nights, while daytime temps barely got into the 70’s. Low humidity too, which is a welcome change.

The forecasters say that today through Christmas and the days after, island temperatures again will reach into the 80’s. I just drove up Periwinkle and my car says it’s 75 degrees at 1 p.m. Christmas Eve. Great weather for a tropical holiday! Guess, we can save our holiday sweaters for another year.

This week and next, there are no Realtor® meetings/caravans scheduled, but teammate Dave held another Open House at our Sealoft Village listing just before it went under contract Tues. It was a busy week for all of our listings, with a nice closing on Monday and multiple offers on the others.

By this morning all of them are under contract. One condo sold by a Sanibel Realtor®, another by one from Ft. Myers, while I was the lucky one to put our last listing under contract. What a great Christmas Eve Day! We are thankful

It looks like this sale surge will continue into 2022. Supply and demand are in control with demand high and supply so limited. The SanibelSusan Team doesn’t see that changing anytime soon. Prospective buyers on the sidelines waiting for the market to normalize, may find that this is the new normal. We just hope we can find enough new listings to satisfy their needs.

The week’s details about the action in the Sanibel & Captiva Islands Multiple Listing Service follow a couple of news items below. First another update of island inventory today based on data from the islands MLS.

On Sanibel, just 53 properties (including condos, homes, & lots) are for sale,15 on Captiva. Year-to-date, 695 Sanibel properties have sold/closed, 106 on Captiva, plus another 69 are under contract on Sanibel, 7 on Captiva. Never, ever has the market been like this!

 

 

 

Status

SANIBEL CAPTIVA
Condos Homes Lots Condos Homes Lots
# Avg $ # Avg $ # Avg $ # Avg $ # Avg $ # Avg $
For sale 16 1,103,050 18 2,644.111 19 630,210 4 2,684,750 11 6,247,545 0 N/A
Under contract 26 1,011,144 36 1,691,027 7 676,840 6 913,000 1 3,595,000 0 N/A
Sold to 12/24/21 281 867,274 346 1,340,276 68 703,830 61 1,164,014 43 2,914,067 2 2,950,000
Sold 2020 192 733,876 290 954,718 23 606,233 47 821,713 27 2,923,148 4 2,537,500
Sold 2005 232 758,507 260 1,028,584 68 496,726 45 863,642 31 2,309,758 0 N/A

Shell Museum Announces New Classes

The Bailey-Matthews National Shell Museum recently announced a new 2022 class lineup for adults. Taught by museum Curator and Science Director Dr Jose H. Leal, senior marine biologist Rebecca Mensch, and professor of drawing with Florida Gulf Coast university Ehren Gerhard, the spring lineup includes:

  • Feb 10 – Fantastic Shells & Where to Find Them
  • Mar 2 – San Carlos Bay – Bunche Beach Marine Biology & Field Lab
  • Mar 17 – Biodiversity & Taxonomy of Molusks
  • Mar 31 – Drawing & Illustrating Shells
  • Apr 13 – Shell Morphology: Understanding Shell Descriptions

Also, on the 4th Tues of each month January through June, beginning at 5:30 p.m. after the museum, closes, they are offering “After Hours in the Aquariums” which will enable participants to experience the aquariums and marine life of the Living Gallery in an interactive program. Program tickets will include admission, tour, snacks, choice of beverage, and one museum pass redeemable for a future visit. Maximum capacity per event is 15 attendees, registration required at www.ShelMuseum.org/after-hours. Or for the classes, register at www.ShellMuseum.org/classes.

Living Shoreline Structure Completed on Woodring Rd

In their Wed, e-mail update, Sanibel-Captiva Conservation Foundation (SCCF) posted a link to this article:

“Mangrove wetland habitats lining Southwest Florida’s coastlines are highly effective in diminishing wave action and damage from high winds. They also trap pollutants and provide crucial habitat for a host of sea life, including the endangered small-tooth sawfish (Pristis pectinata). When biologists notice areas of mangrove-covered shorelines disappearing from erosion, it is a cause for serious concern.

“Nearly 18 months ago, a Dutch marine biologist contacted SCCF about designing, funding, and installing a pilot project on Sanibel to protect mangroves threatened by erosion. This project, completely funded by the Dutch government, will provide an alternative to concrete and riprap, which often lead to additional mangrove loss.

“The Netherlands-based company, BESE Products, uses a biodegradable habitat restoration structure made from the production waste of potato chips and french fries. The waste is collected in the Netherlands and sent to Germany, where it is manufactured into a 3D lattice that helps deposit sediment and can protect mangrove seedlings along high-energy shorelines, such as those along Woodring Road. The goal of this project is to protect the mangroves along Woodring Road, a stretch of Sanibel’s shoreline that has been gradually disappearing over the past few decades.

“SCCF Coastal Watch volunteers spent several hours helping prepare these elements for installation. Hundreds of biodegradable sheets needed to be snapped together to form the completed structures. Volunteers also attached thousands of oyster shells to the structures to promote oyster attachment and growth. Volunteers handily completed this tedious task.

“On installation day, Dec. 20, the BESE structures were placed with rebar just off the shoreline along Woodring Road. With the assistance of 15 volunteers planting mangroves, hammering rebar, and transporting the material to the project site, the installation was completed in two hours. The newly installed temporary structures will allow a surface for oysters to start forming a reef and protect the mangroves from high wave action. The BESE structures are expected to last up to five years and leave behind an established oyster and mangrove habitat. If successful, this will be a positive alternative for future restoration projects.”

Florida. Grand Jury Recommends More Condo Inspections

Posted last weekend by Florida Realtors® and sourced to The Associated Press:

“A Grand Jury tasked with recommending Fla. condo law changes in the wake of the Surfside collapse wants more inspections, less corrosion and faster reporting.

“MIAMI (AP) – A Florida grand jury issued a lengthy list of recommendations Wednesday aimed at preventing another condominium collapse like the one that killed 98 people in June, including earlier and more frequent inspections, and better waterproofing.

“In its report on the Surfside collapse, the Miami-Dade County Grand Jury called on state and local officials to require condominium towers to have an initial recertification inspection by an engineer between 10 and 15 years after their construction and every 10 years thereafter. Currently, Miami-Dade and neighboring Broward County require inspections at 40 years. Other Florida counties have no requirement.

“Champlain Towers South, built in 1981, collapsed June 24 as its 40-year recertification was due. No cause of the collapse has been determined, but records show the building had significant structural damage in its underground parking garage. An engineer had already concluded that $15 million of repairs would be required to bring it up to code. Some of the damage at the oceanside building is believed to have come from saltwater in the air.

“The grand jury report laments that the state repealed a requirement imposed in 2008 requiring that all condo towers bigger than three stories be inspected every five years. The requirement was repealed two years after it was imposed because it was deemed too costly. “In hindsight, it would appear the Legislature’s repeal of that statute was a huge mistake!” the report says.

“Other recommendations include:

  • Requiring that condo towers be repainted and waterproofed every 10 years to prevent corrosion.
  • Having local governments increase the size of their building departments, including by hiring more inspectors.
  • Suspending for at least a year the licenses of engineers and architects who submit false or misleading recertification reports and barring their employers from doing such inspections for the same period. Requiring that a second offense result in a license revocation.
  • Requiring architects and engineers who find severe structural damage during an inspection to report it to local officials within 24 hours and not just to the condo board.
  • Requiring condo board owners to take courses on their role in overseeing building maintenance and effectively managing a building’s finances.”

Sanibel & Captiva Islands Multiple Listing Service Activity December 17-24, 2021

Sanibel

CONDOS

4 new listings: Sanibel Moorings #1132 2/2 $799K, Heron at The Sanctuary III #1B 3/2.5 $875K, Sand Pointe #218 2/2 $1.099M, Pointe Santo #D37 2/2 $1.395M.

1 price change: Gulfside Place #210 2/2 now $1.5999M.

7 new sales: Duggers #1 1/1 listed at $475K, Ibis at The Sanctuary #A101 2/2 listed at $665K, Donax Village #7 2/2 listed at $699K (our listing), Donax Village #9 2/2 listed at $750K, Sanibel Surfside #213 2/2 listed at $899K, Sealoft Village #109 2/2 listed at $899K (our listing), Tarpon Beach #106 2/2 listed at $1.095M.

2 closed sales: Donax Village #10 1 /2 $555.5K, Atrium #106 2/2 $1.71M.

HOMES

1 new listing: 543 East Gulf Dr 2/2 $3.5M.

No price changes.

3 new sales: 644 Lake Murex Cir 3/2 listed at $869K, 3702 Coquina Dr 2/2 listed at $899K, 857 Birdie View Pt 3/2.5 listed at $1.795M.

3 closed sales: 719 Durion Ct 3/2 $995K, 375 East Gulf Dr 5/5 $2.9M (our listing), 1320 Seaspray Ln 3/4.5 $3.765M.

Resort-like pool at 375 East Gulf Dr

LOTS

No new listings, price changes.

1 new sale: 860 Lindgren Blvd listed at $1.2M (our listing & sale).

No closed sales.

Captiva

CONDOS

1 new listing: Beach Villas #2635 3/3 $1.6M.

No price changes, new or closed.

HOMES & LOTS

Nothing to report.

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

Below is our ad from today’s “Island Sun”.

The team and I wish you a wonderful Christmas and safe/healthy 2022. Though the office will be closed tomorrow and New Year’s Day, we will be on our electronic devices and look forward to another successful year. We appreciate our readers and look forward to their business!

Happy holidays!

Susan Andrews, aka SanibelSusan

White Christmas Here = Beach Sand & Seashells

Susan here, reporting that Florida warm weather continued this week with daytime temperatures in the high 70’s to mid-80 degrees F. Island roadways have been getting busier by the day with early arrivals of holiday visitors.
Even after living almost 30 years on Sanibel, it still is a surprise when Christmas sneaks in with temperatures like this. It’s great!

At SanibelSusan Realty

Our phones were noticeably quieter this week, probably with many shopping and concentrating on upcoming celebrations.
The activity posted since last Friday in the Sanibel & Captiva Islands Multiple Listing Service follows a couple of other news items below.
Next Friday (Christmas Eve day), the SanibelSusan Team has the day off. Like on New Year’s Eve the following Friday, you still can expect to see an update posted on the week’s happenings. I won’t ever forget the year that I sold a house on Christmas Day, so even when we are not in the office, we are just a phone call or electronic message away, and always respond quickly. Technology is our friend.
This morning, I had a pre-closing walk-through and seller document signing at Superior Title, before the actual buyer walk-through on Sunday, and closing on Monday. Title companies are super busy in December with many sales to finalize before the end of the year. We always appreciate when some of the closing activities can be done before the actual closing day, especially with holidays fast approaching. That will be our last closing of 2021 and a nice one to report next week.

Singing Your Way Into Christmas

Always fun this time of the year to remember some familiar tunes that have been modified to fit our island paradise. Here are a couple of songs that the BIG ARTS Community performed in past years and still apropos now. Bet if you read the words, you start humming.
Sung to the tune of “Winter Wonderland”, words by Doug MacGregor:
Seagulls sing, are you list’nin’?
At the beach, surf is glist’nin’
A beautiful sight, a sunset tonight
Walking’ in a winter wonderland.
Stored away are the snow skis
Here we stay in our short sleeves
You sing a new song, “This is where I belong!
Livin’ in a winter wonderland.
In the yard, we can trim a palm tree,
Then pretend to shovel lots of snow
You’ll say “Do you miss it?”, I’ll say, “no ma’am”
“I feel younger by the minute don’t you know.
Later on, we’ll conspire
And grill some shrimp on the fire
The plans we have made include sun and some shade
Walkin’ in a winter wonderland.
This one with words modified by Mike Bugler is to the tune of ”Here Comes Santa Claus”:
We’re on Sanibel, we’re on Sanibel
We just got here by plane
Escaped the snow & bitter cold
Snowbird is my name
Seashell bringin’, ocean swimmin’
The sun is always real bright
So, let’s give a thought to our friends up north
Whilst we’re having fun tonight
We love Sanibel, we love Sanibel
Warmer down here than Maine
Deck chairs set out on the beach
More sunshine here than rain
Sip that cocktail, spray that suntan
All here just seems just so right
We’re not going north for another few months
So, let’s all have fun tonight

Realtors® Get Update on Water

Yesterday was the December membership breakfast meeting at the Sanibel & Captiva Islands Association of Realtors®. Chauncey Goss, former Sanibel City Councilor and son of Sanibel’s first mayor was the guest speaker. With a long career in public service, Chauncey currently is Chairman of the governing board of the South Florida Water Management District (SFWMD). Here are few highlights from his presentation:
SFWMD began in 1949 and expanded as a result of the Water Responsibilities Act of 1972. Today several projects are underway that are part of the solution to improving Florida’s water quality. The C-44 reservoir project which mostly affects the St. Lucie River and Florida’s east coast was just completed in November. The filling of that reservoir has just begun. This is the first major project to be completed in 21 years. (I can attest to that with our local and state Realtors® working hard during that time to keep water issues in the hearts and minds of FL property owners and their legislators. The fight must continue as water is a major ingredient in real estate here.)
Chauncey offered some distance references to put the expansive work of SFWMD in perspective. Would you believe the distance of the waterways they manage is like from going from here to Quebec. Over a million acres are under their management including some big marshes which are wonderful not only for the protection they provide, but for birdwatching!
C-43 is the west coast basin which more greatly affects what happens with water here. That project is expected to complete in May 2022. About 67% complete now, you can see it on the right on Rte 80 on way to LaBelle. The storage reservoir for that project is expected to be completed in Dec 2023 and will be ~3 miles by 6 miles (that’s like half the size of Sanibel).
The third project he highlighted is the FAA Reservoir Project which is in the Everglades Agricultural Area. This one also will have a storm water treatment area. Construction is expected to complete in Sep 2023.
Managing Florida’s water quality requires efforts from multi-agencies and multi-solutions. Chauncey urged attendees to remind their customers to stay attuned to water quality issues.

Islands To Receive $ for Beach Shoreline Projects

At their Dec 7 Lee County Board of County Commissioners meeting, funds were approved for local beach and shoreline projects including approximately $2.43 million for Sanibel/Captiva. The commissioners voted to approve interlocal agreements to fund 17 projects across Lee County using more than $4.5 million tourist development tax dollars. Among the agreements, Sanibel will receive $2,070,100 and the Captiva Erosion Control District (CEPD) will get $358,500.
On Sanibel, the City requested and received in full: $1,605,100 for facility beach maintenance, $225,000 for the Bowman’s Beach bridge replacement, $200,000 for changing room rehabilitation at Bowman’s Park, and $40,000 for beach erosion monitoring.
On Captiva, the CEPD requested and received $127,500 for beach park maintenance. It also requested $680,000 for Alison Hagerup parking lot upgrades but was approved for $231,000.
The county reported that beach and shoreline project funding accounts for 26.4% of the proceeds from the tourist development tax assessed on short-term lodging, such as hotels, resorts, and motels. For more info, visit www.leevcb.com/funding-programs/beach-and-shoreline.

New Restaurant Alert

I saw yesterday on Facebook that Bamboo Pan Asian Kitchen just opened. Located on Tarpon Bay Rd behind Tower Gallery, their message said “Come on in, today, Friday, Saturday 4pm to 8 p.m. We will update our hours after the opening 3 days!”.

Sanibel & Captiva Islands Multiple Listing Service Activity December 10‑17, 2021

Sanibel
CONDOS
1 new listing: Duggers Tropical Cottages #1 1/1 $475K.
No price changes.
2 new sales: Pointe Santo #A26 2/2 listed at $1.35M, Atrium #106 2/2 listed at $1.71M.
5 closed sales: Spanish Cay #F8 2/2 $479K, Blind Pass #C207 2/2.5 $625K, Coquina Beach #3E 2/2 $875K, Sanibel Arms West #E3 2/2 $915K, Junonia #101 3/2 $1.579M.
HOMES
3 new listings: 3702 Coquina Dr 2/2 $899K, 1196 Sand Castle Rd 2/2 $899K, 2711 Wulfert Rd 4/4/2 $1.595M.
No price changes.
1 new sale: 1195 Sand Castle 3/2.5 listed at $1.225M.
7 closed sales: 5308 Ladyfinger Lake Rd 3/3 $779K, 328 Palm Lake Dr 3/2 $925K, 1187 Sand Castle Rd 3/3 $1.2M, 993 Sand Castle Rd 3/3 $1.4M, 924 Pecten Ct 4/4 $1.865M, 1511 Angel Dr 3/3 $1.996M, 4014 West Gulf Dr 4/4 $3.8M.
LOTS
No new listings, price changes, or new sales.
1 closed sale: 5850 Sanibel-Captiva Rd $450K.
Captiva
CONDOS
No new listings or price changes.
2 new sales: Bayside Villas #4306 3/3 listed at $850K, Bayside Villas #5341 3/3 listed at $969K.
3 closed sales: Tennis Villas #3217 1/1 $405K, Tennis Villas #3120 1/1 $470K, Bayside Villas #4220 1/2 $535K.
HOMES
1 new listing: 11548 Wightman Ln 4/4.5 $7.5M.
No price changes.
1 new sale: 5 Sunset Captiva Ln 2/2.5 listed at $3.595M.
No closed sales.
LOTS
Nothing to report.
This representation is based in part on data supplied by the Sanibel & Captiva Islands Association of Realtors® Multiple Listing Service. Neither the association nor its MLS guarantees or is in any way responsible for its accuracy.  Data maintained by the association or its MLS may not reflect all real estate activity in the market.  The information provided represents the general real estate activity in the community and does not imply that SanibelSusan Realty Associates is participating or participated in these transactions.
Below is our ad from today’s “Island Sun”.
Until Christmas Eve day! Best wishes, Susan Andrews, aka SanibelSusan

Countin’ Down to Christmas on Sanibel & Captiva Islands

It has been another week of above average temperatures here on Sanibel and Captiva Islands. After several beautiful sunny blue-sky days, it was a surprise to wake up yesterday to heavy fog. It is rare to see any fog here, and especially rare that it did not burn off shortly after sunrise. Local forecasters say this was because of the mild temperatures, light winds, generous humidity (for Dec), and an absence of any strong cold fronts moving in the region. The photo below was taken at the lighthouse as the fog was starting to disappear, about 1 p.m. yesterday.

Daytime temperatures next week also are expected to be warm – into the low 80’s. It was blue sky, sunshine, and 82 degrees F, when I returned to the office today at 1 p.m. Santa better be readying his shorts and sandals.

National Association of Realtors® Economist Reaction to CPI

Always a fan of National Association of Realtors Chief Economist, Lawrence Yun, here is his instant reaction to the Consumer Price Index info posted today (Dec 10, 2021):

“If you are younger than 40 years old, then you never have experienced such high inflation. Consumer prices rose 6.8% in November. We are already well aware of higher food and gasoline prices, up 6% and 58% respectively from a year ago. Rents are up 3% and accelerating at better than 5% on an annualized basis. The heating bill will not be pretty, as natural gas prices are higher by 25%. This rapid inflation is the reason higher mortgage rates are expected in 2022. The Federal Reserve will have to raise interest rates to contain them. The average 30-year fixed mortgage rate is likely to reach 3.7% by the end of 2022 from the current near 3% rate.

“One aspect of inflation is that real estate has proven to be a good hedge. In the 1970’s, a high inflationary period when CPI averaged 7.1% per year, home price gains outpaced inflation with a 9.9% gain. Even when interest rates soared in the 1980’s and thereby crushed home sales, home prices still held up to consumer price inflation: 5.5% versus 5.6%. That’s because rents were soaring. Other decades also show similar patterns. Therefore, for those concerned about the loss in purchasing power of money and savings, be assured that real estate has proven to be a good hedge against inflation.”

At SanibelSusan Realty

SanibelSusan listings had some good action this week, with Dave continuing to hold Open Houses. The activity posted since last Friday in the Sanibel & Captiva Islands Multiple Listing Service follows a couple of news item below.

The team and I also got some things completed on a couple of sales in our pipeline. The buyers flew in to see the Sanctuary home they are closing on in January. Their timing was perfect as they got to hear details about the property directly from the sellers who built the home. It is not often here that buyers and sellers meet, so it was special.

Dave and I also attended the Gulf Pines home inspection with buyers for the home they put under contract last week. The seller’s agent was there too, while Lucas Stokes with Allied Building Inspection Services performed the inspections. We always recommend inspectors that also are authorized to prepare 4-point inspections and wind mitigation reports needed for insurance. When those inspections are done at the same time as other property inspections, it saves $.

More Island Holiday Fun

New landscaping is going in at Bank of the Islands. Here is a photos of one of their holiday “dog” decorations.

South Seas Island Resort 9th Annual Holiday Stroll – This is when the resort opens to the public and invited to view thousands of twinkling lights, visit Santa, taste s’mores, listen to live music, and watch holiday movie classics. The remaining days open to the public are tonight and tomorrow night, Dec 10 and 11, plus Dec 17 and 18 – from 6 to 9 p.m. Stroll tickets are $10 per adult with proceeds helping Captains for Clean Water. Tickets are complimentary for resort guests.

Captiva Chapel by the Sea 11th Annual Community Carol Sing – Sunday, Dec 12 from 6 to 7 p.m. with seating both outside and inside the chapel. More info at http://www.captivachapel.com.

Sanibel Public Library Again Ranks High

For about 15 years, The Sanibel Library has been at or near the top ranking in Florida. This year is no exception. The state library rankings are out, and the Sanibel Library ranked number one per capita (per 1,000) for circulation (number of books or items borrowed), availability of print, audio, video, and other materials to check out, website visits per capita, and square footage availability. The ratings are based on Florida Library Statistics which measures 82 libraries and library systems.

In addition to the state rankings, the library has won annual Star Library awards (top 200 public libraries of 9,000 measured nationally) from the Library Journal in five of the last 10 years. It has been No 1 on TripAdvisor for “Things to do on Sanibel” and has earned TripAdvisor’s Certificate of Excellence awards.

The library is open Mondays and Thursdays from 9 a.m. to 8 p.m.; Tuesdays, Wednesdays, Fridays, and Saturdays from 9 a.m. to 5 p.m.  Visit www.sanlib.org for more information.

Fun Facts About Florida

Perfect Lawn & Pest Control’s November/December 2021 newsletter highlights some fun facts about Florida. I bet they don’t mind if I give them a shout-out and share them:

  • “Florida is similar in size to England and Wales COMBINED.
  • Key West has the highest recorded average temperature in the United States.
  • Florida has 1,197 statue miles of coastline and 663 miles of beaches.
  • No matter where you are in Florida, you are never more than 60 miles from the ocean.
  • Clearwater is the city with the highest rate of lightning strikes per capita in the United States. It also is listed in the Guinness Book of Records for having the most days of sunshine.
  • Florida is the flattest state in America.
  • Siesta Key beach won an award in 1987 for having the finest whitest beach sand in the world – It is 99% pure quartz crystal and is, therefore, cool to the feet.
  • A woman can be fined for falling asleep under a hair dryer in Florida – The salon owner can also be fined.
  • State law dictates that, if an elephant is left tied to a parking meter, the parking fee has to be paid just as it would for a vehicle.
  • Doors to public buildings in Florida must open outward – In case of an emergency, exiting the building is more efficient.
  • Walt Disney Resort encompasses 30,500 acres, making it approximately the same size as San Francisco.
  • Can you guess the number of stones in Cinderella’s Castle? Zero – the whole shell of the building is fiberglass.
  • Happy Hour begins at 9 a.m. at the Schooner Wharf Bar in Key West.
  • Florida has more golf courses than any state in America and has over 30,000 lakes.
  • An unmarried woman is not permitted to parachute on Sunday. She can face a fine or even be arrested.
  • There are no dinosaur fossils in Florida.
  • Florida’s oldest tree is 3,500 years old and is still standing – It is a cypress tree called “Senator” located just north of Longwood at Big Tree Park.
  • Once a year, thousands of Floridians stand at the state line and toss dead fish into Alabama – It is the annual Mullet toss sponsored by Flora-Bama Beach Bar in Pensacola.
  • In 1996, Miami installed the first bank ATM in Florida specifically designed for rollerbladers who couldn’t go inside the bank.”

Sanibel & Captiva Islands Multiple Listing Service Activity December 3-10, 2021

Sanibel

CONDOS

2 new listings: Tarpon Beach #106 2/2 $1.095M, Pointe Santo #D5 2/2 $1.3M.

No price changes.

2 new sales: Lighthouse Point #212 3/2 listed at $929K, Nutmeg Village #308 2/2 listed at $1.2499M.

5 closed sales: Sundial #F407 1/1 listed at $569K, Sanibel Arms West #J1 2/2 listed at $679K, Oceans Reach #4C1 2/2 listed at $875K, Sand Pointe #228 2/2 $1.05M, Compass Point #133 3/2 listed at $1.625M.

HOMES

2 new listings: 644 Lake Murex Cir 3/2 $869K, 697 Birdie View Pt 3/2 $1.495M.

No price changes.

6 new sales: 1841 Ibis Ln 2/2 listed at $628.5K, 697 Birdie View Pt 3/2 listed at $1.495M, 1245 Par View Dr 3/2.5 listed at $1.575M, 853 Tulip Ln 3/2 listed at $1.735M, 1356 Eagle Run Dr 5/5.5 listed at $2.295M, 1304 Seapray Ln 3/2.5 listed at $4.695M.

6 closed sales: 2138 Egret Cir 3/2 $710K, 2548 Wulfert Rd 3/4 $934.5K, 4619 Bowen Bayou Rd 3/2 $976K, 4077 Coquina Dr 3/2 $1.299M, 1665 Sabal Palm Dr 3/2 $2.22M, 1237 Isabel Dr 6/6.5 $3M. 

LOTS

No new listings or price changes.

1 new sale: 3308 St. Kilda Rd listed at $649K.

No closed sales.

Captiva

CONDOS

1 new listing: Bayside Villas #4306 3/3 $850K.

No price changes, new, or closed sales.

HOMES

1 new listing: 57 Sandpiper Ct 2/2 $1.399M.

No price changes or new,sales.

1 closed sale: 11529 Andy Rosse Ln 4/4 $2.625M.

LOTS

Nothing to report.

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

Below is our ad from today’s “Island Sun”.

Enjoy your weekend! Until next Friday, Susan Andrews, aka SanibelSusan

 

 

Getting Ready for Thanksgiving on Sanibel Island

SanibelSusan here reporting that Sanibel and Captiva have had another week of wonderful fall weather. It is getting to be the time of year when we can readily tell the locals from the tourists, the latter being those out-&-about shirtless/tank-tops wearers, some also dressed in bathing suits and shorts. All of this, while we locals are happily in the long sleeves and pants that we haven’t worn since April.

As the joke goes, Florida at this time of the year has Winter in the morning (6 a.m.), Spring starts at 10 a.m. Summer is at 2 p.m., followed by Fall at around 4:30 p.m. Dress accordingly!

Sanibel & Captiva Real Estate Scoop

Below is some island news followed by the real estate action this week posted in the Sanibel & Captiva Islands Multiple Listing Service.

Real estate here continues to move more quickly than years past. There seem to be plenty of buyers, though many are shocked at what has recently happened to prices. Those planning to spend up to $800K are really discouraged. “When will it end?”, they want to know. Our crystal ball is not responding.

For your info, below is a summary inventory update based on the island MLS as of today (Nov 12):

 

 

Status

SANIBEL CAPTIVA
Condos Homes Lots Condos Homes Lots
# Avg $ # Avg $ # Avg $ # Avg $ # Avg $ # Avg $
For sale 20 963,350 24 2,569,541 20 705,450 6 2,123,166 7 5,718,571 0 N/A
Under contract 26 825,336 35 1,739,142 7 455,125 6 914,666 7 4,062,571 0 N/A
Sold 2021 to 11/12 254 858,748 320 1,323,294 64 725,835 55 1,205,380 38 2,874,865 2 2,950,000
Sold 2020 192 733,876 290 954,718 23 606,233 47 821,713 27 2,923,148 4 2,537,500
Yr Most Sold 2005 232 758,507 260 1,028,584 68 496,726 45 863,642 31 2,309,758 0 N/A

There was no Realtor® Caravan Meeting yesterday because of the holiday, but next week Thursday Caravan follows our November Membership Meeting where Florida Realtors® Chief Economist, Dr. Brad O’Connor will give a market update.

Upcoming Events

SCCF 29th Annual Tennis Tournament – The Sanibel-Captiva Conservation Foundation annual tennis fundraiser Is this weekend, Nov 13 & 14 at Beachview Tennis Club. Spectators are welcome.

40th Taste of the Islands & CROW Crawl – The 40th Taste of the Islands kicked off on Nov 1. Like last year, the event runs all month with participating restaurants offering their “Taste” items to showcase their cuisine. A portion of proceeds from these designated food and beverage items will be donated to CROW. Restaurants also will compete for honors in different categories described in the Taste of the Islands Passports. Those passports may be purchased at all Edison National Bank locations (including Bank of the Islands), Bailey’s General Store locations, and Huxter’s Market & Deli. They also may be purchased online at www.TasteoftheIslands.org. (Limited-edition tee shirts also are available at Bank of the Islands. Tomorrow, Nov 13 from 11:30 a.m. to 3:30 p.m. is the CROW Crawl at 400 Rabbits, Island Cow, Love Boat Ice Cream (Sanibel), Paper Fig Kitchen, Thistle Lodge, and Traders.

73rd Season – Sunday Services at Chapel by the Sea – Sunday interdenominational worship services begin for their 73 season, on Nov 14 at Chapel by the Sea on Captiva. Held weekly at 11 a.m. through the end of April. They will have seating both inside and outside, plus the services will be videotaped and posted on http://www.CaptivaChapel.com.

Cruises to Historic Tarpon Lodge & Calusa Indian Mounds on Pine Island – Cruises to Tarpon Lodge and the Indian mounds on Pine Island are offered on select Wednesdays from November through April, beginning Nov 17 through Captiva Cruises. More info on www.CaptivaCruises.com.

37th Sanibel & Captiva Luminary Stroll – Dec 3 (Sanibel) & 4 (Captiva), both events are from 5:30 p.m. to 9 p.m. Once again, after a reprieve last year, traditional luminary nights return. There will be luminary candles, live entertainment, open houses at businesses, and more. Highlights include Sanibel’s live nativity scene and Captiva’s golf cart parade. For pre-Luminary fun on Sanibel, the Historical Village holiday exhibits will be open with free admission during their open house on Friday, Dec 3 from 3 to 5 p.m.

End of Hurricane Season

The end of the 2021 Hurricane Season for the Atlantic Basin (Atlantic Ocean, Caribbean Sea, and Gulf of Mexico) Is Nov 30. Hooray! This time often is when islanders empty their emergency hurricane boxes and donate their unused non-perishable food goods to F.I.S.H.

Fall into F.I.S.H.mas

This year, the local Association of Realtors® is collecting items for F.I.S.H. holiday gifts which will go to needy seniors, teens, and children. The event wraps up on Dec 1. In the meantime, the SanibelSusan Team is shopping. .

Sanibel & Captiva Islands Multiple Listing Service Activity November 5-12, 2021

Sanibel

CONDOS

7 new listings: Blind Pass #A202 2/2 $629K, Mariner Pointe #421 2/2.5 $769.9K, Blind Pass #E103 3/3 $775K, Sanibel Inn #3421 2/2 $899K, Sand Pointe #228 2/2 $1.095M, Sundial #L402 3/2 $1.379M, Gulfside Place #124 2/2 $1.4959M.

No price changes.

2 new sales: Sundial #C305 1/1listed at $549,945; Sanibel Arms West #J1 2/2 listed at $679K.

4 closed sales: Lighthouse Point #120 3/2 $600K, Sandalfoot #2D3 2/2 $793.5K, Heron at The Sanctuary III #2B 3/2.5 $849K, Lighthouse Point #325 2/2 $1.096M.

HOMES

4 new listings: 1667 Atlanta Plaza Dr 2/1.5 $650K, 543 Boulder Dr 3/2 $1.265M, 4077 Coquina Dr 3/2 $1.299M, 719 Periwinkle Way 4/3 $1.895M.

1 price change: 2138 Egret Cir 3/2 half-duplex now $729K.

5 new sales: 719 Durion Ct 3/2 listed at $995K, 1245 Par View Dr 3/2.5 listed at $1.575M, 1220 Morningside Pl 6/4 listed at $2M, 856 Limpet Dr 4/2.5 listed at $2.358M, 699 Anchor Dr 4/4 listed at $2.395M.

2 closed sales: 837 Casa Ybel Rd 2/2 duplex $580K, 547 N. Yachtsman Dr 4/3 $1,419,999.

LOTS

1 new listing: 1332 Eagle Run Dr $499K.

2 price changes: 845 Pyrula Ave now $515K, 3308 Saint Kilda Rd now $649K.

No new or closed sales.

Captiva

CONDOS

3 new listings: Bayside Villas #5320 3/3 $950K, Marina Villas #706 2/2 $950K, Beach Homes #20 3/3 $4.349M.

No price changes or new sales.

3 closed sales: Bayside Villas #5204 1 /2 $440K, Tennis Villas #3210 1/1 $491K, Lands End Village #1649 2/2 $1.325M.

HOMES

2 new listings: 30 Urchin Ct 3/2 $1.495M, 17201 Captiva Dr 5/4.5 $5.65M.

No price changes.

2 new sales: 11529 Andy Rosse Ln 4/4 listed at $2.55M, 14991 Binder Dr 4/4 listed at $5.795M.

No closed sales.

LOTS

Nothing to report.

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

Below is our ad from today’s “Island Sun”.

Enjoy your weekend & don’t forget to get your bird early.

Susan Andrews, aka SanibelSusan