Tag Archives: Sanibel & Captiva Island real estate

Labor Day Weekend 2015 on Sanibel & Captiva Islands

Posted on by
1
Photo courtesy of Jim Anderson, JMA Photography

Photo courtesy of Jim Anderson, JMA Photography

 

It is Susan Andrews (aka SanibelSusan) reporting that it has been another quiet week on the Islands. We breathed a sigh of relief when Tropical Storm Erika dissipated last weekend and didn’t bring much rain to Sanibel and Captiva.

Weather for the long holiday weekend beginning today is expected to be typical of late summer with temperatures in the high 80’s/low 90’s and 20 to 40% chance of rain. The gorgeous summer sunsets continue, but island occupancy is down as it usually is in September.

Below are a few news items, followed by the action posted in the Sanibel & Captiva Islands Association of Realtors® MLS over the last seven days.

SanibelSusan Realty Associates

Sanibelsusan LogoThis week, several of our listings had showings, I met with owners about future listings, and we worked on several fall marketing projects.

Yesterday, we had an Association of Realtors® Caravan Meeting. Attendance was light and only three properties were on caravan (one our new listing at Compass Point). No new listings were announced and no price reductions.

Much of the meeting chatter was about inventory. It has been another good year for island real estate sales, making some wonder if we will have enough real estate to sell this winter. Here is an update of that inventory:

SANIBEL

  • Condos – just 76 for sale with 121 sold/closed this year & another 14 under contract. Average sale price up 5% over last year when 165 condos sold.
  • Homes – just 89 for sale with 188 sold/closed this year & another 26 under contract. Average sale price up 6% over last year when 206 homes sold.
  • Lots – 65 for sale with 34 sold/closed this year & another 4 under contract. Average sale price down 5% over last year when 27 lots sold.

CAPTIVA

  • Condos – just 38 for sale with 28 sold/closed this year & another one under contract. Average sale price up 45% (because most of the sales this year were high-end condos at Lands End Village). Last year 22 condos sold.
  • Homes – just 39 for sale with 19 sold/closed this year & another one under contract. Average sale price up 14% over last year when 23 homes sold.
  • Lots – just 3 for sale with 2 sold/closed this year & another 2 under contract. None sold last year.

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

sancap GO MLS logoOne more Association of Realtors® meeting is scheduled in September, then two in October before we go back to the “season” schedule of every Thursday morning, with Caravans alternating between east-end and west-end properties. Listed properties are allowed on Caravan only once in a 6-month period.

Over 10-Year View, Home Sales Are Strong

realtor logoIt is not just here where inventory is down. The below article was posted Tuesday on-line at “Daily Real Estate News”:

“The National Association of REALTORS® finds that July 2015 existing-home sales are markedly higher than the 10-year July average. The 10-year average is an average of the data from the past 10 July months.

“Regionally, the Northeast was the only area of the country slightly below its 10-year average, while all other regions showed stronger sales. The Midwest and South were up above average by more than 15% and the West has risen 9%, according to NAR.

“The median home price is also higher than the 10-year average. In its 10-year review, NAR says home prices nationally began to drop in 2006 in some regions and 2007 nationally but did not see the biggest drop until around 2009.

“”The trend for median home prices turned around completely in 2012, all regions and the U.S. saw their lowest July median price in 2011,” NAR notes on its blog Economists’ Outlook. Since then, home prices have been on the rise.

“A shortage of homes for-sale continues to persist in the current market. There are fewer homes available for sale this July than the 10-year July average.

“”In 2005, the U.S. had the fastest pace of homes sold relative to the inventory taking 4.6 months,” NAR notes. “In 2010, the U.S. had the slowest pace taking 11.9 months to sell the supply of homes on the market.” The 10-year July average in supply is 7.7 compared to this July, which is at a 4.8-month supply.”

Another Annual Renovation Project – “Ding” Darling Visitor & Education Center

Ding Darling signRenovations begin on September 8 to the entrance and front-desk area of the “Ding” Darling Visitor & Education Center. During the two weeks that it will take to complete the improvements, the Center will remain open with visitors redirected to another entrance.

NAR Survey: Realtors® Plan to Extend Closing Dates

Florida Realtors logoFollowing up on my blog posting last week about the upcoming federally-mandated changes regarding real estate closings for residential property with mortgages, the article below was posted on-line this week on FloridaRealtors®.

“A new National Association of Realtors® (NAR) survey finds that more than 50% of real estate agents plan to extend sales contracts and build in more time for closings due to the Oct. 3 implementation of new mortgage disclosures.

“Currently, the HUD-1 settlement form can be revised and delivered up to the day of settlement. By contrast, the new Truth in Lending Act/Real Estate Settlement Procedures Act Integrated Disclosure (TRID) that goes into effect Oct. 3 must be finalized and in the borrower’s hands three days prior to closing.

“Failure to meet that deadline can result in a re-issuance of the closing disclosure and another three-day waiting period.

“”When asked about their plans to deal with the new TRID rules, 55.9% of Realtors plan to change their purchase agreements to reflect a longer timeline, while 31.2% will add contingencies to the contract,” says NAR based on the research.

“Florida Realtors plans to update its contracts on Sept. 28, 2015, in preparation for the October change. The association currently has the updated contracts posted online in a redline version that graphically shows the changes.

“The poll did not specifically ask how long a Realtor would extend a sales contract, and there appears to be no consensus on the issue. “Based on a handful of anecdotes, some (Realtors) are adding 15 days to a 30-day contract and others are opting for the 60-day contract,” says Ken Fears, NAR’s director of regional economics and housing finance. The NAR study also found that 82% of agents have taken some type of training to prepare for the TRID regime that takes effect Oct. 3….”

Good News About Lake O – Local Estuary Sitting at Good Levels

Everglades-Map-historical-WEBBelow is some positive news about the rainy season this year, as posted in the “Santiva Chronicle” on Wednesday:

“A little more rain is needed, but Lake Okeechobee is at an acceptable level right now, which is good news for Sanibel Island and its estuary.

““For the majority of this year’s rainy season flows have been within the optimal range for the estuary,” James Evans, Sanibel Natural Resources director, said regarding the balance between fresh and salt water.

Sanibelcityseal logoThis balance has been maintained although rainfall on the east side of the state has been much lower than in Southwest Florida. The Southwest Florida Water Management District, which oversees the water resources in the southern half of Florida in 16 counties from Orlando to the Keys, reported Tuesday, Sept. 1, that the remnants of tropical systems Danny and Erika helped lift August rainfall to near average in much of the district.

““The Army Corps of Engineers tries to maintain Lake Okeechobee between 12.5 and 15.5 feet. Right now it’s at 13.08 feet. It has come up about a half-foot in the past week,” Evans said. “That’s a good thing,” he said. “The lake is 1.38 feet below where it was last year, but it is well within the management band that the Corps of Engineers would like to maintain.

““We would like to see the level of the lake come up a bit more before the end of the rainy season so that we have water for supplemental flows to the estuaries and to make sure that all the urban and agricultural needs can be met, but it is trending in the right direction.”

“Despite several days of rain at the end of the month, Martin, St. Lucie, Broward and Miami-Dade counties all got less than average rainfall in August.

sccf“Evans said the city and the Sanibel-Captiva Conservation Foundation are watching flows coming into the local estuary from the Caloosahatchee watershed and those flows “are a bit higher than we would like to see.” “More rain out over the lake between now and October without an excess amount falling within the local watershed would be ideal,” Evans, who recently coauthored a comprehensive report on the Caloosahatchee watershed for the city, said.”

Sanibel & Captiva Multiple Listing Service Activity August 28-September 4

Sanibel

CONDOS

1 new listing: Village of Sanibel #R1 3/2.5 $449K.

No price changes.

2 new sales: Sundial #H303 2/2 listed at $589K, Signal Inn #18 3/2 listed at $1.089M.

3 closed sales: Colonnades #11 1/1 $210K, Captains Walk #C7 1/1 $205K, Captains Walk #F3  2/1.5 $278K.

HOMES

4 new listings: 3965 Coquina Dr 2/2 $330K, 5267 Ladyfinger Lake Rd 3/2 $895K, 1555 San Carlos Bay Dr 3/2.5 $1.1M, 4428 Waters Edge Ln 3/2.5 $1.25M.

4 price changes: 9012 Mockingbird Dr 3/2 now $539K, 1024 S Yachtsman Dr 3/2 duplex now $559.5K, 887 Casa Ybel Rd 4/3 duplex now $689K, 1328 Seaspray Ln 4/4 now $875K.

4 new sales: 1644 Atlanta Plaza Dr 2/2 listed at $479K, 999 Sand Castle Rd 3/3 listed at $547K, 420 East Gulf Dr 3/3 listed at $679.9K, 1537 Sand Castle Rd 4/3 listed at $829K.

4 closed sales: 1744 Bunting Ln 4/2 $585K, 0 Sea Pines 3/2 $849K, 657 Birdie View Pt 3/3 $915K, 821 Sand Dollar Dr 4/4 $1.5M.

LOTS

No new listings.

1 price change: 9232 Dimmick Dr now $235K.

No new sales.

1 closed sale: 1815 Ardsley Way $185K.

Captiva

CONDOS

Nothing to report.

HOMES

1 new listing: 17050 Captiva Dr 3/3 $4.9M.

1 price change: 11523 Wightman Ln 4/4 now $1.9499M

No new or closed sales.

LOTS

Nothing to report.

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

LaborDaySignHappy Labor Day Weekend!

Susan Andrews (aka SanibelSusan)

Woohoo…it’s another sunny 70-degree Friday on Sanibel Island

Posted on by
Reply

beach with shellsIt’s another happy Friday for The SanibelSusan Team. The sun is out, the sky is blue, the temperatures are a pleasant 70 degrees, and we are told that the shelling is great after several breezy days this week. Lots of real estate is being shown and contracts written too.

Following a couple of news items, below is the action posted in the Sanibel & Captiva Islands Multiple Listing Service over the last seven days.

Sanibel & Captiva Island Association of Realtors® Thursday Caravan Meeting

SanCapAssnLogoIt was unusual to have only four properties on our Association of Realtors® East-End Caravan yesterday. Maybe an indication that few new listings are coming on the market this year. Usually there is a flurry of new listings each January, but not so many this year.

Beach Erosion Near Blind Pass

Sanibelcityseal logoAt Sanibel City Council Meeting on Tuesday, the City’s Director of Natural Resources advised that he and staff have been closely monitoring the sand being lost along the Sanibel shoreline adjacent to San-Cap Road across from The Sunset Grill and Lazy Flamingo Restaurant. He reported that the 4’ escarpment is only about 30’ from the roadway. After discussion on a number of solutions, Council approved City staff taking “appropriate action” if conditions worsen in the affected area. With two cold fronts forecast, with increased wind having the potential to accelerate the escarpment, Council also authorized the use of emergency funds if needed. City staff will provide Council members with daily status reports on the situation.

Road Trips

edison festival of light logoiSometimes islanders call it a “road trip” when they venture off-island, whether it be for chores or to partake of what else Southwest Florida offers. This week, I noticed a few fun February “road trip” events, some that I have enjoyed in past years. Maybe you will like these reminders too:

Feb 7-8             ArtFest Fort Myers, 10 a.m. to 5 p.m. both days at the waterfront in downtown Fort Myers, www.artfestfortmyers.com

Feb 15              Edison Festival of Light 67th Junior Parade at 2:30 p.m. in the downtown Fort Myers River District, www.edisonfestival.org

Feb 20              MusicWalk Fort Myers, 6 to 9 p.m., monthly event on the 3rd Friday where there is live music in various the River District locations, www.fortmyersmusicwalk.com

Feb 21              Edison Festival of Light 75th Grand Parade & Fireworks, beginning at noon at Centennial Park, parade at 7 p.m., www.edisonfestival.org

Feb 22              Edison Festival of Light “Mutt Strutt, noon, corner of Hendry & Edwards in downtown Ft Myers, www.edisonfestival.org

Feb 28              Burrowing Owl Festival at Rotary Park, Cape Coral, day-long event.

Island Crime Down 40%

police badgeAs reported in today’s “Island Sun”:

“During his annual presentation to the city council, the chief of the Sanibel Police Department reported a dramatic 40% decrease in criminal activity on the island in 2014, reduced from 210 federal reportable crimes (UCR) in 2013 to 125 last year.

““Within the federally reportable crimes, there were several noteworthy statistics,” Chief Bill Tomlinson told the council on Tuesday morning. “There was a 50% decrease in the report of thefts, a 40% decrease in the reported burglaries and a 75% decrease in vehicle theft.”

“The crimes category includes all non-UCR, such as trespass, drug violations, DUI, criminal traffic violations, criminal mischief, harassment, city ordinance violations and criminal citations.”

Dated Kitchens Get Long Overdue Makeovers

realtor logoRecently, I have had more than one conversation with clients considering remodeling their kitchens and wondering if that renovation will make their property more saleable when the time comes. The answer usually is “yes”, so when I saw the below article posted in “REALTOR®” Magazine on January 19, it reminded me of those conversations.

“Dated kitchens are getting a makeover in many homes this year. About a quarter of about 3,500 home owners recently surveyed say they are remodeling kitchens that are more than 30 years old and another 41% are updating kitchens that are 16 to 30 years old. Wow, have styles changed in three decades too – when red oak cabinets, laminate countertops, and brass fixtures were “in.”

houzz logo“Here’s an interesting stat: Home owners seem to be more committed to their kitchen than their spouse. Most kitchens last two to four times longer than the typical U.S. marriage – which is 8 years, according to Houzz’s Kitchen Remodeling Survey. That means when home owners remodel a kitchen, they devote a lot of time to making sure it’s just right since they’ll likely stick with it for many years to come.

““We already know that kitchens are the biggest driver of discretionary spending in the remodeling market,” says Nino Sitchinava, principal economist at Houzz. “As the economy has improved, many home owners who delayed spending on kitchen updates feel like they now have the means to remodel. We should continue to see an uptick in discretionary spending on home improvements into 2015.

“So, what are home owners’ kitchen renovation plans?

  • Classic finishes: Home owners mostly are sticking to the classics, with finishes like white cabinets (49%) in shaker (37%) or raised-panel (22% styles. They’re also staying loyal to granite countertops (45%) and stainless steel appliances (83%).
  • Added storage: Ease of storage (65%) is a top priority driving remodeling trends. Organization features like a built-in pantry (44%), pull-out shelves (62%), deep cabinet organizers (38%), and built-in pet bowls (6%) are popular.
  • Entertainment spaces: An open-concept layout (52%), bar with seating (27%), and built-in wine storage (21%) are making kitchens a gathering place for family and friends.
  • Big makeovers with big dollars: When home owners choose to undergo a kitchen remodel, the majority are going big with projects requiring substantial construction (68%). As such, home owners are spending big too, with 36% planning to spend between $25,000 and $75,000 on updating their kitchens. More than half of home owners budget $25,000 or less for their upcoming remodels.
  • Complimenting the rest of the house: Home owners want their kitchens stylish and beautiful (59%), but they also want to make sure that the remodel integrates with the rest of the home too (55%). Other characteristics they say are important is that it is filled with natural light, adds to the resale value of their home, energy-efficient appliances, and pro-style cooking set-up.”

Sanibel & Captiva Multiple Listing Service Activity Jan 30-Feb 6 

Sanibel

CONDOS

5 new listings: Seawind II #2 2/2.5 $685K, Lighthouse Point #127 2/2 $699.9K, Island Beach Club #P2E 2/2 $799.9K, Sundial #E408 2/2 $925K, Kings Crown #118 3/2 $1.299M.

6 price changes: Casa Blanca #6 1/1 now $259.9K, Sundial #H411 1/1 now $272.5K, Sundial #I104 1/1 now $369K, Sanibel Arms West #M8 2/2 now $495K, Loggerhead Cay #574 2/2 now $549.9K, Compass Point #111 2/2 now $1.149M.

3 new sales: Loggerhead Cay #191 2/2 listed for $660K, Yacht Haven #1 4/3 listed for $1.495M, Kinzie Island #A 4/3.5 listed for $2.495M.

5 closed sales: Spanish Cay #F6 1/1 $260K; Seashells #11 2/2 $321K; Sanctuary Golf Villages I #4-6 2/2.5 $684K; Compass Point #101 3/2 $1.13M; Wedgewood #204 3/3.5 $2,062,500.

HOMES

8 new listings: 766 Donax St 2/2 duplex $415K, 2065 Wild Lime Dr 3/2.5 $579K, 2582 Wulfert Rd 3/3.5 $789K, 0 Sea Pines 3/2 $849K, 276 Ferry Landing Dr 3/2 $999K, 4308 West Gulf Dr 3/3.5 $1.879M, 6019 Clam Bayou Ln 4/3 $1.999M, 2963 Wulfert Rd 4/6.5 $2.795M.

9 price changes: 1452 Sandpiper Cir 2/2 half-duplex now $325K, 868 Rabbit Rd 3/2 now $385K, 450 Lake Murex Cir 3/2 now $549K, 625 Sea Oats Dr 3/3 now $769K, 1258 Par View Dr 3/2 now $775K, 566 N Yachtsman Dr 3/2 now $939K, 428 Bella Vist Way E 4/4 now $1.749M, 2969 Wulfert Rd 6/6/2 now $2.19M, 696 Kinzie Island Ct 4/5 now $2.359M.

6 new sales: 548 Chert Ct 3/2 listed for $585K, 590 Lake Murex Cir 2/1.5 listed for $635K, 201 Violet Dr listed for $869.5K, 8987 Mockingbird Dr 3/3 listed for $749K, 6433 Pine Ave 4/3 listed for $875K, 1309 Seaspray Ln 5/5 listed for $1.898M.

4 closed sales: 1596 Bunting Ln 2/2 $375K, 735 Donax St 3/2 $450K, 1207 Par View Dr 3/2 $715K, 1130 Seagrape Ln 4/3 $815K.

LOTS

4 new listings: 1316 Par View Dr $320K, 0 Sabal Sands Rd $349K, 9023 Mockingbird Dr $399K, 2494 Blind Pass Ct $695K.

4 price changes: 9232 Dimmick Dr now $215K, 1820 Farm Trail now $229K, 247+255 Robinwood Cir now $229K, 3723 West Gulf Dr now $2.995M.

1 new sale: 6486 Pine Ave listed for $359.9K (foreclosure).

2 closed sales: 864 Birdie View Pt $345K, 860 Birdie View Pt $350K.

Captiva

CONDOS

Nothing to report.

HOMES

1 new listing: 953 South Seas Plantation Rd 5/5 listed for $6.499M.

2 price changes: 16183 Captiva Dr 4/3.5 now $3.985M, 16910 Captiva Dr 4/4 now $4.73M.

3 new sales: 43 Oster Ct 2/2.5 listed for $784.9K; 16585 Captiva Dr 5/4/2 listed for $2,799,585; 15747 Captiva Dr 6/6.5 listed for $5.995M.

No closed sales.

LOTS

No new listings or price changes.

1 new sale: 925 South Seas Plantation Rd listed for $5M.

No closed sales.

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

Until next Friday, here’s hoping your weekend is bright & sunny too!

Susan Andrews, aka SanibelSusan

Beach