Island Real Estate, Sea Turtles, Freebies, & Other Sanibel Scoop


It was quiet on Sanibel and Captiva Islands this week, but with more gorgeous weather including reports of outstanding shelling thanks to stiff winds last weekend and some super low tides. Roadway and bike path traffic continues – though less of it – from visitors on spring breaks from some northern states that keep getting wintry weather. Here we cherish the balmy breeze days in the 70’s – like this week.

Spring events are in full swing. A few are mentioned below before a report of the action posted in the Sanibel & Captiva Island Multiple Listing Service this week.

Island Sales Statistics Year-to-Year

SanibelSusan loves statistics, so here’s a little info confirming my recent posts about Sanibel homes being the most popular product this year. The 83 Sanibel home closings that have already occurred this year are more than all of the other sales on both islands combined.

 

Closed Sales from January 1 to April 20

Sanibel Captiva
Condos Homes Lots Condos Homes Lots
2016 54 56 15 12 13 2
2017 44 66 15 8 12 1
2018 48 83 5 8 12 0

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.

2018 Sea Turtle Season Has Begun

kemp turtleAs reported on-line by The Sanibel-Captiva Conservation Foundation this week:

“On Monday we had our first sea turtle nest of the 2018 season!

“For only the 3rd time in the history of the SCCF Sea Turtle Program, a Kemp’s ridley sea turtle nested on Sanibel Island! The Kemp’s ridley is one of the smallest and most endangered species of sea turtle in the world. We are beyond thrilled that our first nest of the season was laid by a rare Kemp’s ridley!

“Last year SCCF’s Sea Turtle Program had a total of 684 nests on Sanibel – 650 loggerhead nests and 34 green nests – and 189 nests on Captiva. Both the loggerhead and the green nest counts for Sanibel surpassed previous records. 2017 was the fourth year in a row that Sanibel has broken historic nesting records, so we are hopeful that conservation efforts from the past 20-30 years are starting to pay off and sea turtle nest counts will continue to rise. More information on SCCF’s Sea Turtle Program can be found here.

“Please keep our beaches sea turtle friendly:SCCF logo

  • Turn off or shield all lights that are visible from the beach. Do not use flashlights or cell phone lights on the beach. If necessary, use amber or red LED bulbs.
  • Do not disturb the screens covering nests. They prevent predators from eating the eggs and the hatchlings emerge through the holes without assistance.
  • Remove all beach furniture and equipment from the beach at night.
  • Dispose of fishing line properly to avoid wildlife entanglement.
  • Fill in large holes that can trap hatchlings and nesting sea turtles.
  • Do not disturb nesting turtles – please do not to get too close, shine lights on, or take flash photos of nesting sea turtles.
  • Pick up litter.

“If you have any questions or concerns about nesting or injured turtles please call the SCCF Sea Turtle Hotline at (978) 728- 3663.”

Free “BYOB (Bring Your Own Bag) on May 12

BYOBAs posted on-line at the “Santiva Chronicle” this week:

“Get a BYOB washable canvas bag from Coastal Keepers free of charge, while supplies last, starting at noon May 12 at Bailey’s General Store, 2477 Periwinkle Way.

“On May 12 at Bailey’s General Store, Coastal Keepers will hold an event to reduce the use of disposable plastic bags on our islands and educate locals and visitors about the harm plastic bags cause to our environment.

“More than 100 billion disposable plastic bags are used annually in the United States, making them one of the most common trash items collected on beaches worldwide. Plastic bags have a short usage time and are rarely recyclable, taking 1,000 years or more to decompose. They pose a threat to wildlife as countless animals become entangled or mistake them for food each year.

“The solution to this problem is simple – bringing your own reusable bags when you shop eliminates the need for disposable plastic bags! On May 12 starting at noon, Coastal Keepers and Bailey’s General Store, 2477 Periwinkle Way, will partner to distribute reusable, washable canvas bags for free while supplies last. We invite everyone to come out, grab a bag, and go reusable!

coastal keepers loglCoastal Keepers, formerly the Sanibel-Captiva Chapter of START, operates as an independent branch of Sanibel Sea School to create and implement conservation initiatives that promote and improve the future of marine resources and our coastal heritage. Additional BYOB events are being planned for 2018. For more information about Coastal Keepers, please contact coastalkeepers@sanibelseaschool.org.

Upcoming Events

  • Public Meeting on Blind Pass Inlet Management Study – April 27 at 1:30 p.m. in the Sea Pearl Room at South Seas Island Resort at 5400 South Seas Plantation Rd. Provided by the Lee County Division of Natural Resources. More info about the study at www.leegov.com/naturalresources/blind-pass-2016–inlet-management-plan-study.
  • Annual Seahorse Festival – May 5 from 4 to 7 p.m. at Sanibel Community Park, 2231 Periwinkle Way, hosted by The Sanibel School PTA. With a “taste” theme this year, featuring local restaurants with food, desserts, drinks, raffles, silent auction. Entertainment by Wilder Sons, students performing skits, games, inflatables, & more.
  • Sanibel Sea schoolSanibel Sea School Summer Camp – June 4 to August 24 at three locations: Sanibel Sea School’s Flagship Campus, Sundial Beach Resort, & Canterbury School in Fort Myers. Programs for campers ages 4 to 18. Also space available in Pea-Sized Pufferfish Week, a program for 4- to 6-yr-olds; a coral reef expedition to the Florida Keys for 11- to 12-year-olds; an expedition to Belize for teens 15 to 18, and a variety of camps for 6- to 13-year-olds, each with ocean-related themes. More details at www.sanibelseaschool.org.
  • Captiva yacht clubSummer Junior Sailing ProgramJune 11 to 22 & July 16 to 27. A U.S. Sailing Certified program hosted by the Captiva Island Yacht Club at 15903 Captiva Dr. Open to children ages 8 to 15, of all skill levels. More info at www.captivaiyc/activities/sailing.

Changes Coming to Chamber of Commerce Visitor Center

Sanibel-Island-Captiva-Island-Visitor-Center-Exterior.jpgAs reported in the “Island Sun” this week, announced at the Sanibel & Captiva Islands Chamber of Commerce Annual Meeting last week were plans to renovate the chamber’s Francis P. Bailey, Jr. Visitors Center on Causeway Road. “With work expected to begin in early fall, the visitor center “refresh” will include a redesigned interior that will increase visitor “flow”, incorporate a classic coastal design with enhanced visitor experience integrating technology.”

Average 30-Year Mortgage Rate Rises to 4.47% This Week

associated-press-logoThough most island sales continue to be “as is” and “cash”, we always watch the interest rates because we know that it “only takes one” to make a sale and that “one” may want/or need a mortgage. Here is the Associated Press article that was posted yesterday on-line at FloridaRealtors®.

“Long-term U.S. mortgage rates climbed upward this week, slightly worsening affordability for homebuyers.

“Mortgage buyer Freddie Mac said Thursday that the average rate on 30-year, fixed-rate mortgages rose to 4.47% from 4.42% last week. This benchmark rate averaged 3.97% a year ago.

“With the start of the traditional spring home buying season, people shopping for homes are dealing with higher loan costs and fewer properties for sale. Rising rates could further erode inventories as existing homeowners renovate homes rather than putting them up for sale to avoid a more expensive mortgage that would come with a new house.

“If higher rates lead to fewer homes on the market, it could push prices higher and further squeeze would-be homebuyers.

“”These increasing rates will serve as an added challenge to home shoppers in what is already perhaps the toughest home buying market in recorded history,” said Danielle Hale, chief economist for Realtor.com.

Home borrowing costs have risen in response to higher yields on 10-year U.S. Treasury notes. The interest charged on this form of government debt has risen from 2.78% last week to 2.9% early Thursday.

“The interest paid by the government is up along with the federal budget deficit in the wake of President Donald Trump’s tax cuts and plans by the Federal Reserve to raise short-term borrowing rates for banks.

The average rate on 15-year, fixed-rate loans rose this week to 3.94% from 3.875.”

Apply Now If You Want Flood Insurance Before Hurricane Season

Florida Realtors logoThe Atlantic hurricane season coincides with the Florida rainy season which is June 1 to November 30, so seeing the below article posted yesterday on FloridaRealtors® was a timely reminder that it is just around the corner. If you want flood insurance or need to make a change to your policy, now is the time. See the article and some provider recommendations below:

“Nearly a million property owners filed claims for various insured losses from Hurricane Irma, according to the Florida Office of Insurance Regulation, with estimated insured losses totaling nearly $8 billion. More than 750,000 of the 900,000 claims were made by residential property owners.

“With 1.7 million National Flood Insurance Program (NFIP) policies, Florida has the largest percentage – 35% – of NFIP policies in the entire system. When Irma made landfall Sept. 10, 2017, many homeowners, renters and business owners had flood insurance policies, but many more did not.

“Flooding can occur anywhere, even in low-risk areas. Almost 25% of claims come from areas not considered at high risk for flooding and receive one-third of all federal flooding disaster help.

“Homeowners, renters and business insurance does not typically cover flood damage, making it important for Floridians to buy an NFIP policy now. An NFIP insurance policy becomes effective 30 days after it is purchased. Flood insurance pays policyholders even if there is no federal disaster declaration.

“Floods are the most common and most costly natural disasters in the United States. Without flood insurance, it may be too expensive for owners to repair or rebuild.

“NFIP policyholders have been paid more than $887 million to repair and rebuild since Irma. Many policyholders received up to 50% advance payments–nearly $121 million–to minimize waiting for money to start work.

“By mid-March this year, 97% of the more than 28,000 submitted NFIP claims had been closed, with an average payment of $49,000.

“Homeowners, renters and business owners who live in NFIP-participating communities are eligible to purchase flood insurance through an insurance agent or an insurer participating in NFIP.

“To find out if a community participates in NFIP, ask an insurance agent or go online to fema.gov/cis/FL.html….

“To find an agent who sells flood insurance, contact the NFIP Referral Call Center at 800-427-4661.

For more information on general flood insurance questions, contact your local floodplain administrator, NFIP at 800-427-4661, or your insurance agent….”

Here are the four local insurance providers on SanibelSusan’s Directory of Services & Utilities:

Freebies From SanibelSusan Realty

Sanibelsusan LogoIf you’d like a copy of our directory, mentioned above, just email Susan@SanibelSusan.com. This list was compiled as a courtesy and is updated as we get recommendations. Vendors and service providers are included based on past service to us or our clients.

Also, if you are wondering when SanibelSusan’s next mass mailing of our inventory tables will go out, it will be soon. (With nearly 9,000 copies mailed, it makes our phones ring.) My team is confirming sales and updating our database now, while they also continue each Saturday to update the individual (Sanibel condo, home, lot, & Captiva) tables. To be added to our mailing list to receive a copy in early May (or anytime), just email Susan@SanibelSusan.com. (Easy to email these inventory lists too. ) They show the addresses and prices of the properties for sale now, those under contract, and, for comparison, sales over the last few years too.

Sanibel & Captiva Islands Multiple Listing Service Activity April 13-20, 2018

sancap GO MLS logoSanibel

CONDOS

4 new listings: Seashells #43 2/2 $379K, Mariner Pointe #732 2/2 $489.9K, Mariner Pointe #533 2/2.5 $499K, Loggerhead Cay #143 2/2 $799K.

4 price changes: Loggerhead Cay #313 2/2 now $535K, Mariner Pointe #1052 2/2 now $549.9K, Cottage Colony West #101 1/1 now $624.5K, Loggerhead Cay #214 2/2 now $625K.

1 new sale: Nutmeg Village #313 2/2 listed at $999K.

2 closed sales: Loggerhead Cay #332 2/2 $474.5K, High Tide #B102 2/2 $1.765M.

HOMES

6 new listings: 1827 Middle Gulf Dr 2/2 $549.9K, 1001 Lindgren Blvd 3/2 $899K, 3708 Coquina Dr 3/2 $909K, 829 Birdie View Pt 4/3.5 $1.25M, 725 Donax St 6/2.5 $1.548M, 6071 Sanibel-Captiva Rd 4/3.5 $3.395M.

12 price changes: 9477 Peaceful Dr 3/2 now $509.5K, 1805 Ibis Ln 2/2 now $549K, 1339 Tahiti Dr 3/2 now $669K, 4239 Gulf Pines Dr 3/2 now $695K, 5307 Ladyfinger Lake Rd 3/2 now $635K, 5739 Pine Tree Dr 3/3 now $809K, 5280 Ladyfinger Lake Rd 3/2 now $825K, 501 Lagoon Dr 2/2 now $979K, 1349 Eagle Run Dr 3/2.5 now $1.135M, 1426 Causey Ct 3/2.5 now $1.175M, 2479 Blind Pass Ct 3/2 now $1.199M, 4992 Joewood Dr 3/3.5 now $1.449M.

11 new sales: 6143 Henderson Rd 4/3 listed at $399K, 1938 Roseate Ln 3/2 listed at $499K, 1621 Sand Castle Rd 3/2 half-duplex listed at $565K, 1478 Albatross Rd 3/2 listed at $639K, 4439 Gulf Pines Drive 3/2 listed at $695K, 3320 St. Kilda 4/2.5 listed at $1.049M, 500 Periwinkle Way 3/3 listed at $1.195M, 519 Kinzie Island Ct 3/2.5 listed at $1.195M, 1995 My Tern Ct 4/2 listed at $1.349M, 1033 S Yachtsman Dr 3/3 listed at $1.495M, 411 Bella Vista Way 4/4 half-duplex listed at $2.075M.

6 closed sales: 1040 Sand Castle Rd 3/2 $540K, 1008 Demere Ln 2/2 $607.5K, 1295 Par View Dr 3/2 $640K, 5757 Baltusrol Ct 3/3 $1.497M, 536 Lighthouse Way 4/4.5 $2.85M, 1008 Bayview Dr 4/4.5 $3.5M.

LOTS

No new listings.

1 price change: 412 Tiree Cir now $319,555.

No new or closed sales.

Captiva

CONDOS

1 new listing: Beach Cottages #1408 2/2 $1.195M.

1 price change: Marina Villas #610 2/2 now $699K.

2 new sales: Bayside Villas #5102 1/2 listed at $375K, Lands End Village #1665 2/2 listed at $950K.

No closed sales.

HOMES

No new listings.

1 price change: 11506 Wightman Ln 3/3 now $1.339M.

No new or 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.

Until next Friday, here are a couple of fun photos borrowed from Facebook.

Thriller 04-19-18.jpgA mama & baby dolphin photographed this week during a Sanibel Thriller rider (departs from The Sanibel Marina, more info at http://www.SanibelThriller.com).

Plus another Sanibel sunset!

sunset 04-18-18.jpg

TGIF, Susan Andrews, aka SanibelSusan

It’s a Summer-Like Sanibel February


12-28-15 Scott 7 White pelicanIt’s SanibelSusan reporting that all’s well on another sunny Sanibel Friday. I won’t mention the traffic which is worse than I ever remember it pre-weekend. It’s been a constant stream of cars tying up Periwinkle, coming onto the island until midday, when it changes to heavy traffic in both directions. From mid-afternoon on, as usual there is extra traffic heading off-island. Last night it cleared up by 6:30 p.m.

So, we grit our teeth, plan our days differently, don’t turn right, and remember that we are sharing fabulous weather with extra snowbirds and vacationers. It makes it a challenge when we are driving with prospective buyers. Those new to the island have a hard time believing that it’s like this for just a few weeks each year.

They sure love the weather though. It really has been amazing for February – bright blue skies with a few occasional clouds, daytime temperatures ranging from the low 80’s into the 90’s (record setting numbers), and sparkling water surrounding the island.

Beach

At SanibelSusan Realty Associates

SanibelSusan Realty from Periwinkle WayWe had good action with our listing this week, with several more showings scheduled tomorrow during turn-over in some of the vacation rentals. With the big annual Arts and Crafts Fair across the street from the office both tomorrow and Sunday, we hope for some walk-in business.

If you have a three-day weekend, we hope you enjoy it. If you are here, we hope you drop in.

Sanibel & Captiva Islands Association of Realtors®

Sanibel realtors logoMonthly Membership Meeting – Yesterday was the February monthly Membership Breakfast Meeting and Caravan for the local Association of Realtors®. Guest speaker was Julie LePore with FIRPTA Solutions, Inc. FIRPTA is the Foreign Investment in Real Property Tax Act of 1980 and it covers the disposition of U.S. real property interest by a foreign person. I’ve covered it in my updates before, but she mentioned a couple of points many Sellers don’t realize.

firpta_solutions_logo_full-color_horizontalFIRPTA – If you are selling real estate in the U.S. and are NOT a foreign Seller, there still is a form required by FIRPTA. These Sellers must sign a Certificate of Non-Foreign Status which indicates that FIRPTA withholding is not required. So, don’t be surprised if the title company handling your closing asks you to sign a form that includes your social security number or tax identification number.

Alternatively, in the case where the Seller is foreign, more questions apply. If the Buyer does not have definite plans to reside at the property at least 50% of the time that the property is in use, the Buyer is required to withhold 15% of the sale proceeds. Yes, that is a requirement of the Buyer. Usually Buyers don’t know this. Here, the title company handles this withholding. If the Buyer will reside the property being purchased, depending on the price, there could be change in the amount needing to be withheld. Best to consult with an expert if you are a Buyer and the Seller is foreign. FIRPTA Solution is a good resource at www.firptasolutions.com.

Caravan Announcements – We weren’t lucky enough to get another sale this week, but plenty were announced at the Caravan meeting. One colleague who just listed a $2+M property announced that it went under contract in hours for full-price, cash, quick close. Just an example of what can happen in a situation where a buyer is waiting for an property in a specific location or of a certain size or condition.

What’s Happening With the Sanibel Real Estate Market?

sancap GO MLS logoUsing info from the Sanibel and Captiva Islands Multiple Listing Service as described in the disclosure below, here are some summaries.

Number of Sanibel Price Reductions in last 30 days:  105 (71 homes, 7 lots, 28 condos)

Considering that there are just 362 Sanibel properties for sale, that’s a lot of price reductions.

How Many Properties Are Selling Compared to the Competition?

  # Available # Sold/Closed 2018 # Under Contract
SANIBEL CONDOS
Income-Producing 75 4 8
With 3 Bedrooms 12 4 5
Under $500K 23 3 13
Over $1M 21 5 4
SANIBEL HOMES
Canal-front 39 4 8
Near-beach 87 16 15
Gulf-front 12 5 3
Under $500K 9 5 2
Over $1M 91 18 19

No Rate Increase for 8th Year in a Row

Lcec logoLCEC (Lee County Electric Coop) posted this info in their February “LCEC News”. With most prices increasing, it’s great to hear that LCEC’s electric rates have remained the same. “Rates actually have decreased over the past four years…Even after spending more than $30 million on Hurricane Irma restoration, rates will remain the same for 2018. As a cooperative, LCEC is eligible for partial FEMA reimbursement for disaster recovery….”

Upcoming Events

  • rotary logoSanibel-Captiva Rotary Club’s 35th Art & Craft Fair – with over 100 artists & food court – tomorrow & Sunday, Feb 17 & 18 at The Community House and Sanibel City Park across the street from SanibelSusan Realty Associations. Open from 10 a.m. to 5 p.m. on Saturday, 9 a.m. to 4 p.m. on Sunday.
  • kiwanis logoAnnual Kiwanis Spaghetti Dinner – an island favorite for nearly 40 years, Saturday Feb 24 from 4 to 8 p.m. at The Community House. Funds raised go to island youth education and recreation activities including scholarships. (If you are on-island and need a ticket, give me a call, I know who delivers… just got my ticket today.)
  • zonta logoAnnual Peek at the Unique – annual fundraiser tours of four unique island residences, hosted by The Zonta Club of Sanibel-Captiva on Saturday Mar 10 from 9 a.m. to 3 p.m. Transportation by air-conditioned buses. Tickets required. More info at zontasancap.com, tickets at Eventbrite or www.zontasancap.com/events/peek
  • SCCF’s 7th Annual Beer in the Bushes – Saturday Mar 31 from 6 to 10 p.m. on the grounds of SCCF’s (Sanibel-Captiva Conservation Foundation) Nature Center. Attendees are encouraged to dress in “soul train” attire of the 70’s. Purchase tickets at http://www.sccfbeer.eventbrite.com

Sanibel & Captiva Islands Multiple Listing Service Activity February 9-16, 2018

Sanibel

CONDOS

7 new listings: Sanibel Moorings #212 1/1 $425K, Sanibel Moorings #141 1/1 $475K, Kings Crown #312 2/2 $799K, White Sands #13 2/2 $949K, Sundial West #E104 2/2 $995K, Blue Gulf #101 3/2 $1.42M, High Tide #B102 2/2 $1.795M.

2 price changes: Beach Road Villa #104 2/2 now $455K, Sundial West #F201 2/2 now $799K.

8 new sales: Tennisplace #D21 1/1 listed at $239.8K, Captains Walk #D5 2/1 listed at $299.5K, Seashells #40 2/2 listed at $349.9K, Sundial West #J307 2/2 listed at $759K, Sundial West #F201 2/2 listed at $799K, Nutmeg Village #201 2/2 listed at $999K, Pine Cove #102 3/2 listed at $1.25M, Seascape #202 3/3.5 listed at $2.195M.

3 closed sales: Colonnades #C3 1/1 $225K; Lighthouse Point #220 2/2 $435K; White Sands #32 2/2.5 $978,625.

HOMES

8 new listings: 9408 Moonlight Dr 3/2 $599K, 1806 Ibis Ln 3/2 $679K, 5885 Pine Tree Dr 3/2 $699K, 617 Lake Murex Cir 3/2 $839K, 9027 Mockingbird Dr 4/3 $869K, 2629 Coconut Dr 2/3 $1.198M, 735 Sand Dollar Dr 3/3 $1.339M, 519 Kinzie Island Ct 2/2.5 $1.35M.

21 price changes: 6143 Henderson Rd 4/3 now $444.9K, 1040 Sand Castle Rd 3/2 now $549K, 958 Sand Castle Rd 3/2 now $619K, 474 Lake Murex Cir 3/2 now $679.9K, 749 Cardium St 3/2 now $749K, 5430 Osprey Ct 3/3 now $774K, 5410 Osprey Ct 3/2.5 now $799K, 9446 Beverly Ln 3/3.5 now $819K, 924 Beach Rd 3/2 now $895K, 3239 Twin Lakes Ln 3/2 now $899K, 2480 Library Way 3/2.5 now $899K, 1265 Par View Dr 3/2.5 now $899K, 3941 Coquina Dr 3/2 now $979K, 5402 Osprey Ct 4/3 now $995K, 1426 Causey Ct 3/2.5 now $1.195M, 805 Sand Dollar Dr 4/3 now $1.295M, 1995 My Tern Ct 4/2 now $1.349M, 4992 Joewood Dr 3/3.5 now $1.465M, 1525 Sand Carlos Bay Dr 3/2 now $1.575M, 514 Kinzie Island Ct 4/5 now $1.895M, 4166 Dingman Dr 4/4 now $2.599M.

8 new sales: 667 Spartina Ct 3/2 listed at $619,555; 563 Hideaway Ct 3/2 listed at $699K, 3980 Coquina Dr 3/2 listed at $799K; 5657 Sanibel-Captiva Rd 3/2 listed at $895K, 925 Lindgren Blvd 3/2 listed at $995K; 1152 Buttonwood Ln 3/3.5 listed at $1.379M; 1271 Isabel Dr 4/4.5 listed at $3.299M, 1077 Bird Ln 4/4/2 listed at $5.995M.

6 closed sales: 9292 Kincaid Ct 3/2 $480K, 1613 Sand Castle 3/2.5 half-duplex $499K, 1717 Sand Pebble Way 3/2 $610K, 900 Almas Ct 3/3.5 $1.015M, 1313 Eagle Run Dr 3/3 $1.35M, 3945 West Gulf Dr 3/3 $3M.

LOTS

No new listings.

2 price changes: 412 Tiree Cir now $329,555; 2401 Blue Crab Ct now $679K.

No new sales:

1 closed sale: 2626 Coconut Dr $329K.

Captiva

CONDOS

1 new listing: Bayside Villas #5144 1 /2 $385K.

1 price change: Beach Homes #25 3/2 now $2.095M.

No new sales or closed sales.

HOMES

No new listings or price changes.

1 new sale: 11531 Paige Ct 4/3.5 listed at $3.45M.

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.

Enjoy your weekend & Presidents Day!presidents day clip art

Susan Andrews, aka SanibelSusan

Island-Style Valentine Sights


 

Manatee mailboxDolphin mailboxboth mailboxesIt’s SanibelSusan, reporting another fine Friday here. This one, wrapping up a week of fantastic Florida winter weather. After expecting temperatures to be in only the low 70’s, locals and visitors have been “out and about” happily enjoying sunny days, with temperatures almost setting records – into the low 80’s.valentine

Early this afternoon, my car registered 82 degrees as I drove down Periwinkle Way. On my return, because of the traffic, I elected to go “the back way” and saw a sight that made me smile. Near one of the bends just off East Gulf Drive are two mailboxes across the street from each other with those big concrete-looking bases – one is a manatee and the other a dolphin. Here they are in their adorable Valentine’s garb. These island neighbors sure have the holiday spirit.

With Southwest Florida so nice and the news reporting ice, snow, sub-zero temperatures, and pile-ups in the northern states, I have been hit up several times this week with folks looking for help in finding last minute island accommodations. (Some are even having trouble looking for February and March next winter!) Very little is available for long-term stays, so we are trying hard to convince some of those folks to buy. We’ve got some listings with excellent income that could help pay the way when you aren’t using the property yourself.

The action posted in the Sanibel & Captiva Islands Multiple Listing Service since last Friday follows a couple of news items below.

NFIP Extended For Six Weeks – to March 23

Posted today by “Florida Realtors®” on line:NationalFloodInsuranceProgr

“As part of the just-passed continuing resolution to keep the government open, the National Flood Insurance Program now won’t expire until March 23, 2018.

“While the legislation only extends government operations for six weeks – including NFIP – Congress agreed to some long-term changes, including $90 billion in assistance for post-hurricane cleanup in Florida, Texas and Puerto Rico.

“While the national flood insurance program isn’t a direct part of federal funding, its future has been tied to it recently because the flood insurance extension has been voted on alongside the larger spending packages.

“For at least the next six weeks, however, homebuyers and sellers in flood zones can stop worrying about the loss of flood insurance derailing their transaction.”

What’s Happening at Island Inn

island inn matthews suitesIf you’ve recently driven down West Gulf Drive, you may have noticed the construction at Island Inn. The historic Island Inn, the oldest hotel on Sanibel (established in 1895) began their latest multi-million-dollar investment last year when construction began to replace the Matthews Lodge, a 12-unit concrete-block building built in 1961. This week, they announced the opening of the new Matthews Lodge Luxury Suites (their photo above) which are 12 new 600 sq. ft. accommodations. Benchmark General Contractors was the builder. For more info on the Island Inn, Traditions on the Beach, or the new gulf-view luxury suites, visit www.islandinn.com.

Upcoming Events

  • 16th Sanibel-Captiva Art League “Clothesline Sale”, Sunday, Feb 11 from 9 a.m. to 3 p.m. at The Community House, with ~30 artists participating. Some of these artists also feature their work at monthly events just outside Bailey’s General Store. Called “Art on the Veranda”, they will be there tomorrow, Feb 10 from 10 a.m. to 3 p.m.
  • Livingston Taylor – at South Seas Resort, Sunday, Feb 18 from 8 to 10 p.m. Doors open at 7. Tickets at www.livingstontaylorsouthseas.eventbrite.com.
  • 25th Annual Children’s Education Center of the Islands “Spring Festival” – Thinking ahead, if you have children or grands coming to town for Easter you might want to put this event on your calendar: Saturday, Mar 31 from 9 to 11 a.m. at Sanibel Community Park (next to The Community House).

How Fast Can Home Prices Rise?

In last week’s update from the recent economic analysis presentation at Florida Realtors’® Governance Meetings, it recounted how Lee county is one of the few areas in the state where the supply of residential real estate is greater than demand. An article posted yesterday on FloridaRealtors.org further describes what is happening to home prices throughout the rest of the U.S., with some cities breaking price records.

attom data solutions logoStrong demand and low inventories fueled home prices to record highs in 2017. The median home price in the U.S. reached $235,000, up 8.3% from 2016, according to real estate data firm ATTOM Data Solutions.

“Still, annual price appreciation showed signs of slowing; in 2016, the national median home price jumped 8.5% year over year, according to ATTOM’s latest housing report.

“Sixty-four of 112 metros (57%) set a new record for metro-level home prices in 2017, including Los Angeles, Dallas, Houston, Atlanta, and San Francisco. Among 112 metros, each with populations of 200,000 or more, the cities with the biggest year-over-year price increases were Ocala, Fla. (up 14.3%); Kansas City, Mo. (13.4%); San Jose, Calif. (13.3%); Salem, Ore. (12.9%); and Nashville, Tenn. (12.5%).

“Among major metro areas with populations of at least 1 million, the cities that posted double-digit gains included Las Vegas (up 12.3%); Salt Lake City (10.9%); Seattle (10.8%); Orlando, Fla. (10.7%); Tampa-St. Petersburg, Fla. (10.7%); Portland, Ore. (10.5%); and Jacksonville, Fla. (10.1%).

“Miami-Fort Lauderdale-West Palm Beach also ranked in the 1-million-plus category, with the area’s 2017 price rise at 8.9%.”

© Copyright 2018 INFORMATION INC., Bethesda, MD (301) 215-4688

Webcam Back Up At “Ding” Darling

Paul collins roseate 04-13-14

As reported in the “Ding” Darling Wildlife Society Newsletter dated February 8, 2018.

“Our live Refuge Webcam, which was damaged by Hurricane Irma, is back up and running better than ever. The solar-powered camera broadcasts live scenes from the Wildlife Drive observation tower during daylight hours. So, now when you need your Refuge “fix,” just head to our home page and click on the live cam. It’s the next best thing to being here in person.”

Right to Inspect: The Devil is in the Details

Florida Realtors logoThough written to help Realtors®, the below article posted on Florida Realtors® this week by their COO and General Counsel (& fellow New Englander), Margy Grant, has good info for buyers and sellers too.

“Feb. 5, 2018 – One of the most common clauses buyers utilize when submitting an offer to purchase real estate is the “right to inspect.” Based on the number of calls to the Florida Realtors Legal Hotline, this also is one of the most misunderstood clauses – and one that could have serious consequences for buyers and sellers if it is not interpreted and enforced correctly.

“In the “As Is” Residential Contract for Sale and Purchase approved by Florida Realtors® and The Florida Bar – the purchase contract most commonly used by members – the right to inspect clause contains the language “in the Buyer’s sole discretion.” This phrase is intended to mean that a buyer may cancel the purchase contract at any time during the inspection period for any reason. Occasionally, Realtors confuse this language. They interpret it to mean a buyer is required to discover a defect in the property or structure and only then is entitled to cancel. This is incorrect.

“A buyer may terminate the contract by delivering written notice to the seller for any reason, even something as minor as the color of paint in a bedroom. However, to be binding, the notification has to be made prior to the expiration of the inspection period.

“Another issue that is often misunderstood is the process for renegotiating a contract before enacting the right to terminate.

“Let’s say you are representing buyers who have signed a contract to purchase a home. An inspection has revealed the roof is aged and leaking in one section. Your buyers still want to buy the house; however, they want the seller to either fix the roof or reduce the purchase price to reflect the repair amount. Otherwise, they will have to cancel.

“Simply contacting the listing broker to communicate the problem does not constitute a cancellation under this section of the contract. If a buyer wishes to renegotiate then you, as the buyer’s Realtor, need to provide specific information to the listing broker. Explain exactly what the buyers want and explicitly say that if the seller refuses, then the buyers intend to cancel under the inspection clause of the contract.

If you fail to accurately explain what the buyers want as a remedy, and the seller does not respond before the time to inspect the property lapses, your buyers may be in jeopardy of losing their deposit.

“How do you as a Realtor protect yourself from situations like this? Simple: Communicate and watch the calendar. In writing, explicitly explain to the listing broker what your buyers want from the seller. At the same time, make sure your buyers do not miss the deadline to cancel the agreement if the parties cannot agree on repairs or a reduction in purchase price. Remember: The “As Is” form contract is calculated on calendar days, not business days.

“Real estate contracts vary in terms of when a buyer or seller can amend or cancel. You should carefully review each contract’s right to inspect clause. In the event there is confusion about which day is the final date to cancel, you should contact the other side and make sure everyone is in agreement. But when in doubt, err on the side of the earlier date to protect yourself and your buyer.

“In most transactions, a buyer wants to buy and a seller wants to sell, so approach all negotiations positively and work toward a sale. But, at the same time, take precautions to make sure you do not inadvertently put the buyer’s deposit at risk.”

Sanibel & Captiva Islands Multiple Listing Service Activity February 2-9, 2018sancap GO MLS logo

Sanibel

CONDOS

1 new listing: Blind Pass #E207 2/2.5 $429K.

4 price changes: Mariner Pointe #1061 2/2 now $574.9K (our listing), Cottage Colony West #101 1/1 now $630K, High Tide #C101 2/2 now $899K, Plantation Village #312 3/2.5 now $1.69M.

5 new sales: Tennisplace #E33 2/1 listed at $320K, Sundial West #F308 1/1 listed at $439K, Loggerhead Cay #402 2/2 listed at $580K, Sandpiper Beach #302 2/2 listed at $850K, By-The-Sea #B202 2/2 listed at $1.249M.

No closed sales.

HOMES

6 new listings: 962 Sand Castle Rd 3/2 $639K, 9225 Belding Dr 3/2 $650K, 753 Cardium St 3/2 $679K, 610 Hideaway Ct 3/2.5 $689K, 1582 Sand Castle Rd 3/2 $699K, 2969 Wulfert Rd 6/6/2 $1.995M.

15 price changes: 813 Rabbit Rd 2/2 now $439K, 1717 Atlanta Plaza Dr 2/2 now $460K, 6143 Henderson Rd 4/3 now $468.5K, 3043 Poinciana Cir 4/2 now $549K, 5280 Umbrella Pool Rd 3/3 now $675K, 1342 Junonia St 3/3 now $679K, 1450 Sand Castle Rd 3/2 now $769K, 1245 Anhinga Ln 3/2 now $829K, 9028 Mockingbird Dr 4/3 now $879K, 1114 Captains Walk St 3/3 now $899K, 940 Spoonbill Ct 3/2.5 now $1.095M, 6123 Starling Way 3/2.5 now $1.174M, 500 Periwinkle Way 3/3 now $1.195M, 2689 Wulfert Rd 4/6.5 now $1.994M, 3615 West Gulf Dr 3/2 now $3.1M.

5 new sales: 9446 Yucca Ct 3/2 listed at $545K, 3323 Twin Lakes Ln 3/3 listed at $787K, 3010 West Gulf Dr 3/2 listed at $799K, 2939 Wulfert Rd 5/5/2 listed at $1.349M, 747 Windlass Way 4/3.5 listed at $2.295M.

4 closed sales: 915 Palm St 3/2 $445K, 1807 Buckthorn Ln 3/2.5 $615K, 1314 Par View Dr 3/2 $750K, 1255 Isabel Dr 3/3 $1.615M.

LOTS

1 new listing: 976 Whelk Dr $699K.

3 price changes: 4566 Buck Key Rd now $159K, 1550 Centre St now $205K, 1800 Woodring Rd now $2.695M.

2 new sales: 2626 Coconut Dr listed at $379K, 4767 Tradewinds Dr listed at $1.75M.

No closed sales.

Captiva

CONDOS

2 new listings: Beach Villas #2625 2/2 $645K, Lands End Village #1608 3/3 $2.595M.

No price changes or new sales.

1 closed sale: Lands End Village #1657 2/2 $1.06M.

HOMES

1 new listing: 17030 Captiva Dr 6/7.5 $10M.

1 price change: 11531 Paige Ct 4/3.5 now $3.45M.

1 new sale: 11521 Andy Rosse Ln 7/8 listed at $2.799M.

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.

valentineHere’s hoping that you and your Valentines have a great week!

Until next Friday, Susan Andrews aka SanibelSusan

A Little Soggy Today in the Neighborhood


SanibelSusan here. Today the islands are feeling the effects of what forecasters are calling swirling weather patterns associated with a tropical wave which poses a threat for localized flooding across Southwest Florida today. Heavy downpours began Wednesday afternoon and have been sporadic so far, but the chance of rain is predicted at 100% right through the weekend. It finally drops to a 20% chance on Wednesday. On the upside, the temperatures are down into the high 70’s/low 80’s and the vegetation is lush.

With the ground already saturated, flash flooding warnings have been issued for Lee and Charlotte counties until 8 p.m. tonight. This wave is not related to Hurricane Harvey which is poised to slam the Gulf coast of Texas, but it nonetheless probably helped bring the greater-than-normal rain throughout the day.

Before a few news items, here is a photo shared with me earlier this month. Look who walked by and caught him by surprise when he was at his island home. (You’ve gotta be fast with an iPhone. Thanks for sharing, Scott.)

2017-08-12 bobcat

Florida Realtors 101st Annual Convention/Trade Show & Governance Meetings

2017 Convention LogoSorry I missed posting a blog last Friday. While in Orlando at the Florida Realtors® Annual Convention and Governance Meetings, it was great to play a part in the productive educational sessions Tues/Wed/Thurs, followed by committee meetings Fri/Sat, and ending with the Board of Directors meeting Sunday morning.

There are a lot of events, networking, and real work crammed into a few days so I always enjoy the drive back home when it is nice to get out in the fresh air again and rethink the week’s accomplishments.

2017 Sanibel Gang at Awards Luncheon

The Sanibel/Captiva gang at the Florida Realtors 2017 Awards Luncheon

 

I’ve seen lots of changes in the industry during the 20+ years that I have been involved in the state leadership team. Hot topics now are cybercrime, wire fraud, copyright infringement, automated valuation models, paperless transactions, social media advertising, artificial intelligence, and drones.

2017 chief financial officer cropped

Speaking at Florida Realtors Capital Club Luncheon – Florida’s Chief Financial Officer Jimmy Patronis (with his handsome sons)

Though the real estate markets vary from one area of Florida to another, much of our work and problems are common. Staying involved in problem-solving and solution-sharing is key in staying ahead of the many changes that technology continually brings to this business.2017 Education Ambassador

 

Here are a few fun facts about Florida Realtors®:

  • Florida Realtors® is the 2nd largest state Realtor® organization in the country.
  • It is 170,000 members strong (in 2017)
  • It began in 1916 and now covers 13 districts, 54 local boards, and has 130+ employees.
  • In 2016, 61% of membership was female and averaged 52 years old. Members had an average of 10 years of experience and completed 9 transactions. They closed nearly 400,000 sales with over $105 billion in dollar volume.
  • In 2016 in Florida, there were $19.4 billion in international sales. The largest fraction of foreign buyers (39%) were from Latin America & the Caribbean. The top 5 countries of foreign buyers in Florida were: Canada, Brazil, Venezuela, United Kingdom, & Argentina.
  • In 2017, Florida Realtors® PAC successfully supported legislation that passed the first-ever cap on community association fees for estoppel certificates.

Because of the size of our local organization, the Sanibel & Captiva Islands Association of Realtors® only has two voting Directors at the state. There were 561 Florida Directors voting on Sunday. I was honored to be one of them, along with our 2017 Sanibel & Captiva Islands Association of Realtors® President, Joel Goodman.2017 BoardYou can find more info about Florida Realtors® at FloridaRealtors.org.

Sanibel & Captiva Islands Association of Realtors®

Sanibel realtors logoYesterday was the Sanibel & Captiva Islands Association of Realtors® August General Membership Meeting followed by biweekly Caravan. Once again, like two weeks ago, the meeting was well attended, but not much real estate action was announced. Our new listing at Spanish Cay was one of only two properties on the following Open House Caravan.

The speakers for the General Membership Meeting included a panel of four rental managers from ReMax of the Island Vacation Rentals, Royal Shell Vacations, SBL Vacations, and VIP Vacation Rentals. They fielded such questions as:

  • Who handles the prorations of rental income when a property sells? The rental managers do, this is not something that normally is handled by a title company since it’s not a physical part of the real estate.
  • How do you handle requests for showings when a property is listed for sale? Most of the managers prefer to make the showing appointments and only when requested by the Listing Agent. Particularly “in season”, when requests may be frequent, Listing Agents may want to ensure that the request is to a “serious prospect” before bothering a long-term tenant. VIP prefers that the Listing Agent calls the tenant so they can control who goes in/out.
  • Has the rental business increased or decreased? Some mentioned that particularly with homes, inventory is less than it was some years ago. Many in the large baby boomer population who purchased and rented before retirement are now using the property themselves.
  • Have rental rates increased? In most cases yes, but it’s often dependent on a property and its upgrades. The “best” properties are booked a year in advance with repeat longer-term bookings preferred. Particularly for reservations in Feb and Mar, they should be booked a year ahead.

SanibelSusan Realty Associates

While away, I fielded some phone and email inquiries about a few of our listings. Then, this week, we got another new listing. It is a Sunset South top-floor riverside expanded 2 bedroom with elevator, garage & large private storeroom – a great opportunity for a buyer looking for easy residential living with gulf access, natural views, and handy to the causeway. Well priced too at $499,900 (view shown in first photo below).

Several of our listings were shown this week and a couple of showings are scheduled as next week many rental properties are vacant. The action posted in the Sanibel & Captiva Multiple Listing Service since August 11 (two week’s worth of info) is posted after a few news items below.

The islands are coming up on what some of the retail establishments say is traditionally the slowest week of the year. Many communities only allow construction projects in September so it could be a few quiet weeks with schools back in session and the rainy season in full swing. It is a good time to view property though. Some say, the best time to secure real estate before “season”.

Sanibel Fresh

Sanibel Fresh 08-24-17If you are looking to try some place new, “Sanibel Fresh” opened yesterday in the former location of Bennett’s Fresh Roast at 1020 Periwinkle Way. Open Monday through Friday from 7 a.m. until 9 p.m., their motto on their Facebook logo says “Healthy food for a happy you”.

We haven’t tried it yet, but our pals say it’s “great”.

Call for Action

NFIPWithout Congressional action by September 30, 2017, authority for the National Flood Insurance Program (NFIP) will expire. If NFIP lapses, more than 40,000 real estate transactions per month will be in jeopardy. The National Association of Realtors® has issued a call for action and made it easy for you to urge your member of Congress to pass “The 21st Century Flood Reform Act” H.R. 2874 as soon as possible.

H.R. 2874 contains several provisions of critical importance:

  • Reauthorizes NFIP for a full 5 years, avoiding the uncertainty of short-term extensions and potential shutdowns.
  • Caps NFIP rates at $10,000 per year for property owners.
  • Directs FEMA to develop more granular rate tables, to ensure fewer properties are overcharged
  • Sets aside $1 billion for flood mitigation assistance grants.

And increases access to private market flood insurance. Please follow this link to Take Action

Sanibel & Captiva Islands Multiple Listing Service Activity August 11-25, 2017

Sanibel

CONDOS

3 new listings: Sunset South #6D 2/2 $499.9K (our listing), Sundial East #O405 2/2 $1.0995M, Sanddollar #A101 2/2 $1.195M.

3 price changes: Seashells #40 2/2 now $359.9K, Ibis at The Sanctuary #B102 2/2 now $449.9K (our listing) (photos below), Ibis at The Sanctuary #B302 2/2 now $468.5K.

4 new sales: Ibis at The Sanctuary #B201 2/2 listed at $475K, Sanibel Moorings #931 2/2 listed at $550K, Sanctuary Golf Villages I #6-2 2/2.5 listed at $649K, Lighthouse Point #327 3/2 listed at $849K.

4 closed sales: Spanish Cay #B6 2/2 $380K, Blind Pass #F210 2/2 $444K, Blind Pass #B105 2/2 $450K, Sanibel Arms West #I3 2/2 $519K.

HOMES

5 new listings: 982 Main St 3/2.5 $489K, 4542 Bowen Bayou Rd 3/2 $578K, 1724 Bunting Ln 3/4 $985K, 1304 Eagle Run Dr 3/3 now $1,099,995; 411 Bella Vista Way 3/4 half-duplex $2.495M, 3945 West Gulf Dr 3/3 $3.195M.

7 price changes: 3021 Singing Wind Dr 3/2 now $499K; 5306 Ladyfinger Lake Rd 3/2 now $589K; 673 East Rocks 3/2 now $715,888; 3354 Barra Cir 3/2 now $875K; 673 East Rocks 3/2 now $725,988; 5075 Joewood Dr 4/4.5 now $3.25M.

6 new sales: 982 Main St 3/2.5 listed at $489K, 2150 Egret Cir 3/2 listed at $524.9K, 981 Sand Castle Rd 3/2.5 listed at $549K, 1311 Sand Castle Rd 4/4.5 listed at $799K, 655 Anchor Dr 3/3 listed at $749K, 1272 Isabel Dr 4/4.5 listed at $3.45M.

1 closed sale: 981 Main St 4/2.5 $625K.

LOTS

No new listings.

2 price changes: 3354 Barra Cir now $399K, 4115 Sanibel-Captiva Rd now $799K.

No new or closed sales.

Captiva

CONDOS

1 new listing: Beach Villas #5228 1/2 $433.5K.

No price changes.

2 new sales: Beach Villas #2517 1/1 listed at $497.5K, Beach Villas #2623 1/1 listed at $530K.

HOMES

No new listings or price changes.

1 new sale: 11500 Chapin Ln 4/4.5 listed at $1.795M.

No closed sales.

LOTS

Nothing to report.

(This representation is based, in whole, or in part, on data supplied by the Sanibel & Captiva Islands Association of Realtors® or its Multiple Listing Service. Neither the association nor its MLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or its MLS may not reflect all real estate activity in the market. The information provided represents 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, I hope you enjoy your weekend & stay dry. That’s the plan here!

Susan Andrews, aka SanibelSusan

Realtors Packing Meals of Hope


meals_of_hope(1)It’s almost the end of another quiet week on Sanibel & Captiva Islands. The SanibelSusan Team and I are getting our Friday work done early today, so we can head over to the Community House to help the Meals of Hope volunteers set up for our Association of Realtors® afternoon food packing event.

At last count, the Sanibel & Captiva Islands Association of Realtors® has raised $6,000+ (enough for food/supplies to pack 28,000 meals) and will have at least 80 volunteers ready to pack from 3 to 5 p.m.

It will be fun to see how many we really can get done that quickly. Off to Harry Chapin Food Bank the meals go after that, where they are available to Southwest Florida food banks through the Feeding America Food Bank Network.

Sanibel & Captiva Islands Multiple Listing Service

Sanibel realtors logoNo sales were announced at yesterday’s Association of Realtors® bi-weekly Caravan Meeting and only two new listings (one home on Sanibel and one on Captiva) were open during the Caravan that followed.

Our listings had some action this week though, including another condo closing and one under contract. The action posted since last Friday in the Sanibel & Captiva Multiple Listing Service follows a couple of news items below.

Online Home Value Estimates Are Not Appraisals

BradfordZillowCartoonWonder why your Realtor® tells you that a Zestimate of the value of your island property may be incorrect? First a little general info from NAR’s Economists’ Outlook blog on June 29, 2017 and reposted on “Daily Real Estate News” June 30:

“Homeowners who seek an estimate of their home’s value online often find that it doesn’t match the actual value… The Economists’ Outlook blog, which is run by the National Association of REALTORS®, recently offered tips from data scientist Karen Belita. She notes that Automated Valuation Models, or AVMs, are based on computer algorithms and calculations that “take different sets of property data and look for patterns and relationships between property value and the input data.” This allows web visitors to find a home value estimate easily and quickly by just searching an address.

“But these estimates should not be confused or used as a substitute for appraisals, Belita notes. Appraisals use comparative market analyses and in-depth expertise of real estate professionals to draw a conclusion on the value of the property. Another caveat with AVMs is that they fail to take into account the unique qualities of a home, neighborhood, or local market.

Zillow’s “Zestimate,” for example, is computed using public and user-submitted data with “different accuracy levels depending on the data of the property and location,” Belita writes. Another source is the REALTORS Property Resource®, which provides two home value estimates: one from their own AVM model and another from REALTORS® Valuation Model. RVM pulls from the same data as the AVM as well as MLS data, providing estimates of confidence scores based on its accuracy level.

“As technologies advance and more data becomes available, the number of sites that provide home value estimates may grow,” Belita writes. “With the knowledge of where to find home value estimates online, it is important to note that these home value estimates are not interchangeable with formal appraisals, comparative market analyses, and they cannot be used as a basis for a loan. Most of these sites, if not all, reiterate the importance of consulting the expertise of real estate professionals to receive an in-depth and in-person analysis of the property and the local market.””

On island, it goes without saying that most property cannot be valued using calculations that might apply in large area of residential tract housing where location and construction are basically the same. Here, the islands are so unique that the same home in different gulf and inland locations, sometimes less than a mile apart, also can differ in value not just a few dollars, but millions of dollars.

Many Multiple Listing Services sell their data as a revenue source. The Sanibel & Captiva Islands Multiple Listing Service does not. It neither gives nor sells its MLS data to Zillow or 3rd party sites, nor are the listings in the islands’ MLS sent to outside syndicated sites looking to make money.

Instead, the island MLS data is provided only to Realtors® performing under the umbrella of the Realtor® Code of Ethics. That includes sites: Realtor.com, our Association site SanibelRealtors.com, and individual member and company sites where our Association offers cooperation through Florida Realtors® IDX (Internet Data Exchange) like my site SanibelSusan.com.

So why, you may ask are your listing photos and data on Zillow. It’s because some island Realtors® and their clients want their properties to get broad exposure.

I do this by belonging to two MLS’s. I am a primary member of the Sanibel & Captiva Islands Association of Realtors® which requires that we post all of my listing on their MLS. I also hold a secondary membership at the Royal Palm Coast Realtor® Association which services other areas in Southwest Florida. This secondary membership allows me to also post my listings on the Florida Gulf Coast MLS. The Florida Gulf Coast MLS syndicates their listings to many 3rd part real estate search sites, including Zillow.

Does that mean that all Sanibel/Captiva listings are on Zillow? No, but you will find SanibelSusan listings there.

So, when various websites offer to tell you the value of your property, take it with a grain of salt. I have never and I mean never, seen an island Zillow that was not inflated.

A real estimate of value or what a property likely is worth at a point in time is best done by a licensed real estate appraiser or by a market analysis prepared by a licensed Realtor®.

If you want to know the real value of your property, it should be based on recent actual sale prices of ALL comparable properties (not just those in a particular database).

It should not be based on asking prices of what is for sale, not what sold a year ago, and not what a property like yours may be worth in another location.

The person that can perform this evaluation is someone who knows the value of real estate here and not just some of the prices for some sales, but all of them.

Mortgage Rates Fall Again – 2nd Straight Week

Florida Realtors logoFloridaRealtors® posted the following Associated Press article yesterday, July 27, 2017:

associated-press-logo“Long-term U.S. mortgage rates fell this week for the second week in a row, despite the Federal Reserve’s efforts to lift borrowing costs.

“Mortgage buyer Freddie Mac says the rate on 30-year, fixed-rate mortgages slid to 3.92% from 3.96% the previous week. While historically low, that is still above last year’s average of 3.65%

“The rate on 15-year, fixed-rate home loans, popular with homeowners who are refinancing their mortgages, eased to 3.2% from 3.23% last week.

“Mortgage rates haven’t increased much even though the Federal Reserve has boosted its benchmark rate four times in the past 18 months. That’s because mortgage rates follow the yield on the 10-year Treasury note, which is influenced by many factors. Greater demand by overseas investors can lower the yield.

To calculate average mortgage rates, Freddie Mac surveys lenders across the country between Monday and Wednesday each week. The average doesn’t include extra fees, known as points, which most borrowers must pay to get the lowest rates. One point equals 1% of the loan amount.”

Sanibel & Captiva Islands Multiple Listing Service Activity July 21-28, 2017

sancap GO MLS logoSanibel

CONDOS

1 new listing: Gulfside Place #222 2/2 $1.245M.

No price changes.

1 new sale: Gulf Beach #102 2/2 listed at $799K (our listing).

Beach

In front of Gulf Beach

 

4 closed sales: Captains Walk #A1 2/1 $325K, Lighthouse Point #129 3/2 $550K (our listing), Sanibel Surfside #223 2/2 $730K, By-The-Sea #C302 2/2 $1.175M.

HOMES

1 new listing: 1938 Roseate Ln 3/2 $549K.

4 price changes: 1940 Periwinkle Way 3/2 half-duplex now $494K, 1040 Sand Castle Rd 3/2 now $589K, 545 Piedmont Rd 3/2 now $595.9K, 9113 Mockingbird Dr 3/3.5 now $599,999.

2 new sales: 519 Lagoon Dr 4/2 listed at $849K, 1137 Golden Olive Ct 5/3.5 listed at $1.7945M.

4 closed sales: 1036 S Yachtsman Dr 3/3 $595K, 1809 Bowmans Beach Rd 3/2 $750K, 1032 Lindgren Blvd 3/2.5 $799.9K, 3402 West Gulf Dr 3/2 $1.3M.

LOTS

1 new listing: 461 Lake Murex Cir $349K.

1 price change: 1299 Par View Dr now $241.5K.

1 new sale: 5148 Sea Bell Rd listed at $199K.

No closed sales.

Captiva

CONDOS

No new listings, price changes, or new sales.

1 closed sale: Tennis Villas #3127 1/1 $237,250.

HOMES

1 new listing: 11531 Paige Ct 3/3.5 $3.59M.

No price changes.

1 new sale: 43 Oster Ct 2/2.5 listed at $819K.

No closed sales.

LOTS

Nothing to report.

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

friday-yay.jpgUntil next Friday,

Susan Andrews aka SanibelSusan

Pre-Christmas at SanibelSusan Realty


merry-christmas-from-sanibelIt is quiet at SanibelSusan Realty Associates this afternoon. The team is now off for the holiday weekend, so you-know-who is manning the fort. The last few days, the island slowly has filled up with visitors. Those from the north particularly are loving that Southwest Florida set records this week for highest temperatures ever recorded here in December (91 degrees F).

Wednesday morning – on the 1st day of winter – as teammates Dave, Elise and I were powwowing about listings and showings, I remarked that the rare overcast sky looked like it sometimes does up north, just before it snows. That’s when a vacationer ran by our back door dressed in just shorts. Gave us all a giggle since that was after the temperature had dropped to a cool 68 degrees. We hope the warm weather brings more buyers!

We had no weekly Realtor® caravan meeting yesterday because of the holiday and though the roadways and bike paths are busy, Dave only one couple visit his Open House midweek.

Below, after a few news items, is the activity posted this week in the Sanibel & Captiva Islands Multiple Listing Service.

Sanibel Openings/Re-Openings

  • Totally Baked – now open seven days a week from 6 a.m. to 2 p.m. at 2407 Periwinkle Way. Serving homemade cakes, doughnuts, cupcakes, cookies, candies, biscuits, freshly baked bread, plus breakfast & lunch menu.
  • Sanibel Sea School Winter Camp – Has a different theme each week this year. This week the theme is “Polynesian Ocean Traditions; Dec 26 through 30 “Ocean Tribe Traditions”, and Jan 2 through 6 “Japanese Ocean Traditions”. Camps are 9 a.m. to 4 p.m.
  • Sanibel Farmers Market – will be closed Sunday for Christmas, but will have a make-up day on Monday, December 26, from 8 a.m. to 1 p.m. Then through May 28, including on New Year’s Day, the market will be open every Sunday during the same hours. (at City Hall)
  • Sanibel Café Re-opening – Wednesday, December 28, after renovations following their fire in late September. Hours are 7 a.m. to 2:30 p.m.
  • Community House – Construction is nearing completion, with landscaping going in now. Opening in January.

87th Master Gardener Lecture Series

Free, open to the public, but limited seating, at Sanibel Library on Thursday January 5 at 10 a.m. Speaker is Rick Joyce, nationally-recognized expert on pruning of landscape plants, especially trees.

Captiva Beach Tilling Starts January 9

captiva-beach-tillingAn article and this photo posted on-line Wednesday at “Santiva-Chronicle” says:

“The Captiva Erosion Prevention District will till the sand placed in the 2013-14 re-nourishment project starting in January.

“The staging area for the contractor is the Alison Hagerup parking lot. The work is being performed by Perry’s Beach Service of Fort Myers.

“Tilling is scheduled to begin the morning of Jan. 9 and proceed north to Redfish Pass. After completing this segment, work will continue south of Hagerup Beach to Blind Pass. All work is estimated to be completed by the end of the day, Jan. 13, weather permitting. All operations will occur during daylight hours.

“Tilling is permit-required to lessen the impact of compacted sand on sea turtle nesting and hatching activities. The turtles prefer soft sand for digging their nests and laying their eggs. The work is scheduled so that it will not interfere with piping plover nesting, which begins Feb. 1, and sea turtle nesting, which begins May 1.

“The project includes tilling and dressing the sand and leveling any escarpment that exceeds 18 inches in height and is more than 100 feet long.

“A tractor pulling a rake with tines will till the approximately 25,600 linear feet of re-nourished beach to a minimum depth of 36 inches. The use of horns, whistles, and signals will be kept to a minimum to ensure a quiet operation while maintaining job site safety. There will be minimal disruption to traffic on roads adjacent to the beach.

“Residents, beachgoers, and businesses are required to remove all obstructions, including umbrellas, chairs, and canopies, between the dunes and high tide lines, that might interfere with the work.  Beachgoers are asked to avoid the area where tilling is being done until the tractor is a safe distance away and to heed all signs and instructions from tilling personnel.

“Questions should be directed to CEPD by calling 239-472-2472, or by kathleen@mycepd.com.”

Fire at Blind Pass Condo

Last Sunday afternoon, a fire at a condo at Blind Pass condominium (#G201) was quickly extinguished, but it burned out the vacationing family of seven. City Manager Judie Zimomra commended the Sanibel Fire District, Sanibel Police, and neighboring fire districts for their quick response. I heard that the fire was caused by a charging electronic device. This upstairs unit was destroyed and the unit below had significant water damage. The family – father, mother, and five children – had its belongings wiped out. The City coordinated with F.I.S.H. (Friends in Service Here) and the Tourism Development Council to provide relief.

“Here Comes Santa Claus”

santaFellow BIG ARTS Chorister, Mike Bugler, penned the following words to a new song he calls “We Love Sanibel”. Sung it to the tune of “Here Comes Santa Claus”, it’s pretty cute.

“We’re on Sanibel, we’re on Sanibel

We just got here by plane

Escaped the snow and the 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

While 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 so right

We’re-not-going-north for another-few-months

So let’s all have fun tonight”

Sanibel YouTube Video

If you need a little Sanibel pick-me-up. Here is a link to a video I saw posted on Facebook this morning. It’s terrific.

SANIBEL CSN 2016

SANIBEL TRIP, ALTERNATE EDIT. MUSIC BY CROSBY, STILLS, NASH AND YOUNG.

Sanibel & Captiva Multiple Listing Service Activity December 16-23, 2016

Sanibel

CONDOS

3 new listings: Loggerhead Cay #234 2/2 $579K, Sundial East #O401 2/2 $729K, Sundial East #O407 2/2 $1.199M.

2 price changes: Lighthouse Point #129 3/2 now $599K (our listing), Shorewood #1C 3/2 now $889K.

2 new sales: Seawind #103 2/2.5 listed at $564K, Cottage Colony West #137 1/1 listed at $649K.

6 closed sales: Kimball Lodge #263 1/1.5 $395K, Sundial West #C310 1/1 $429.5K, Sundial East #P401 2/2 $852K (our listing), Surfside 12 #B3 3/2 $899.75K, Sunset South #15B 2/2 $950K, Kings Crown #105 3/2 $1.19M.

HOMES

11 new listings: 1709 Sand Pebble Way 3/3 triplex $510K, 5299 Ladyfinger Lake Rd 3/3 $749K, 5406 Osprey Ct 3/2 $889K, 1073 Fish Crow Rd 3/2.5 $899K, 1396 Tahiti Dr 4/2/3 $989K, 5313 Punta Caloosa Ct 3/2 $998K, 1511 Angel Dr 3/3 $1.25M, 924 Pecten Ct 4/4 $1.965M, 5606 Baltusrol Ct 4/6 $2.995M, 2964 Wulfert Rd 4/5.5 $3.495M, 1206 Bay Dr 4/4.5 $3.99999M.

4 price changes: 1585 Serenity Ln 3/3 now $549K, 465 Lake Murex Cir 2/2.5 now $599K, 1212 Par View Dr 2/2 now $629K, 5105 Sanibel-Captiva Rd 4/3 now $649K.

No new sales.

4 closed sales: 4215 Old Banyan Way 3/3 $690K, 400 Rabbit Rd 4/3 $757K, 232 Robinwood Cir 4/3 $1.1125M, 626 Kinzie Island Ct 3/2.5 $1.635M.

LOTS

2 new listings: 1550 Centre St $199K (our listing) $199K, 1026 Fish Crow Rd $430K.

2 price changes: 644 Sea Oats Dr now $325K, 2401 Blue Crab Ct now $789K.

No new sales.

2 closed sales: 9211 Dimmick Dr $139.5K, 9426 Sage Ct $250K.

Captiva

CONDOS

4 new listings: Sunset Beach Villas #2324 2/2 $645K, Captiva Shores #8A 3/2.5 $1.795M, Beach Homes #7 2/2 $1.795M, Beach Homes #8 3/2 $2.7M.

No price changes, new sales, or closed sales.

HOMES & 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.)

white-christmas-signMerry Christmas from all of us!

The SanibelSusan Team – Dave, Elise, Lisa, & Susan

Sanibel Luminary & Island Real Estate


After what I hope was a nice Thanksgiving for everyone, it is SanibelSusan reporting that it has been a busy few days at SanibelSusan Realty. Two listings are under contract, one my sale, plus another sale, and another offer or two in the pipeline. Teammate Dave is busy with the closing action items, while our pals at Barrier Island Title likewise are busy, working on getting some of them closed by the end of the year. Last night, I posted a new listing on MLS too, so Teammate Elise is busy this morning with that one.

Very Thankful.pngWe are thankful for the nice, yet unexpected, spurt of activity!

Tonight is Sanibel Luminary, the 32nd year. For those here, below is a summary.

museum-luminary-2015Sanibel Historical Museum & Village from 3:30 to 5:30 p.m. with a 50’s theme, will have holiday tunes performed by the Sanibel Ensemble (good practice for our upcoming concert), followed by a brass ensemble.

Flash mob inside Bailey’s General Store 5 to 5:30-ish (more of those chorus singers).

Then 5:30 to 9 p.m., lit paths marking the Luminary Trail will lead the way to merry landmarks from one end of Periwinkle Way to the other.

247There will be lots of events at shopping centers and businesses along the way; but no trolleys this year, it really will be a stroll. Mid-island, thousands of lights are sparkling at the Sanibel Community Church where there will be food, drink, live music, a petting zoo and kid’s tent, plus a presentation of “A Walk Through Bethlehem”. Next door, Santa will be at Jerry’s Center. At the East end, Sanibel Sea School and the San-Cap chapter of Solutions to Avoid Red Tide have lots of luminary fun planned in the school parking area.

Tomorrow evening is the Captiva Luminary event, also from 5:30 to 9 p.m., on Captiva Drive and Andy Rosse Lane, with plenty of treats at various businesses and with several bands performing in the Village.

big arts logoAdding another event, if you are on-island, is the BIG ARTS Community Chorus Holiday Concert Tuesday evening (12/6) at Schein Performance Hall at 7 p.m. Tickets available at the box office. (Come to hear my first solo, it’s three words!)

Below after a couple of additional news items is the action posted this week in the Sanibel & Captiva Multiple Listing Service.

Sanibel & Captiva Islands Association of Realtors®

Sanibel realtors logoThere was a big turn-out yesterday at the islands’ Thursday morning Association of Realtors® Caravan Meeting. I was happy to announce our new sales and new listings. During the following 9 a.m. to noon, Realtor® Caravan our Open House at Hight Tide was successful and Dave/Elise worked on the inventory too. Next week is West-End Caravan, followed by the monthly membership meeting and East-End Caravan on 12/15, when we will have another new listing open.

Water Improves on Sanibel

beach.jpg

Nice to read this article in the December issue of “The Junonia” by The Sanibel-Captiva Shell Club, Inc.:

“If you were on the beach during Thanksgiving week you may have noticed how clear the water was in comparison to earlier in the season…Just west of Lighthouse Beach…people were in waist deep water and bending over to pick up shells they saw on the sandbars. Many live shells and sand dollars were observed. Likewise, live animals could be seen on the beach and in the shallow waters. It was satisfying to watch people turning shells over and then returning them to the sand or water when they discovered they were alive.”

SanibelSusan’s 2-cents worth:

The clear water likely is weather and rain-related. After setting rain records early in the year (wettest January ever), it is obvious from the yellow grass along island roadways, that it is very dry here now. News reports say that since Hurricane Matthew in mid-October, which was Florida’s first hurricane in more than a decade, the rainy season essentially stopped, though it had been an unprecedented 53+” of rain in ten months. Since they, we have seen little if any precipitation in some areas of the island.

This lack of rain has allowed the Army Corps of Engineers to get the water level under control on Lake Okeechobee, which has meant fewer and lower-volume water releases coming down the Caloosahatchee.

Mother Nature has treated Southwest Florida well this year. Let’s hope the clear water stays!

2017 Sanibel Beach Parking Permits

Parking-On-Sanibel.png

2017 Sanibel Beach Parking Permits may be purchased at the Sanibel Recreation Center seven days a week during operating hours (Mon through Thurs 6:30 a.m. to 8 p.m; Fri 6:30 a.m. to 6:30 p.m.; Sat 8 a.m. to 5 p.m., & Sun 12 p.m. to 5 p.m. To qualify for any Beach Parking Permit, bring a valid vehicle registration for each vehicle AND a valid government-issued identification. Permits are valid through 11/30/2017. The permit decals and fees are:

“A” Resident/Property Owner $12 – A driver’s license showing a Sanibel address or proof of Sanibel property ownership is required to purchase a resident/property owner “A” sticker. Beach Access Lots 1 through 7 on West Gulf Dr require “A” permits.

“B” Non-Resident Permit $99

“C” Restricted Permit $90 (resident & non-resident) – “C” permits are required at Gulfside City Park (Algier’s), Boat Ramp & Causeway Parking Lot (or general parking at $4/hour).

“A/C” Resident/Property Owner Permit $102

“B/C” Non-Resident Permit $198

Time to File For Florida Homestead Exemption

LeePALogoThe time to file new Florida Homestead Exemptions is coming up. It’s January 1 to March 1. Wondering what the Homestead Exemption is? From www.Leepa.org:

“Homestead Exemption is a constitutional benefit of up to a $50,000 exemption removed from the assessed value of your property. It is granted to those applicants who possess title to real property and are bona fide Florida residents living in the dwelling and making it their permanent home on January 1. Documentation that proves you were a resident at the homestead property is required.

“Rental of the homestead property (exclusive use by a tenant on a temporary, seasonal or annual basis) constitutes abandonment of the homestead – if you plan to rent, contact the Appraiser’s Office to determine your exempt status.

“Properties granted Homestead Exemption automatically receive the “Save Our Homes” benefit. This is a constitutional benefit approved by the Florida voters in 1992. It places a limitation of 3% on annual assessment increase on Homestead properties beginning with the 1995 tax year.

“For properties granted Homestead Exemption in the prior years, that assessed value will be the base value for the implementation of “Save Our Homes”. Thereafter, the assessed value will not increase more than 3% or the Consumer Price Index, whichever is less. Exceptions to that limitation include new additions or construction that escaped taxation in the past. Another exception would occur when a homestead property sells: the assessed value returns to fair market value in the year following the sale. That fair market value assessment then becomes the base value for “Save Our Homes” purpose for the new owner/homestead applicant.

“You may file for your homestead exemption by mail, in person or on-line at www.leepa.org…”

Sanibel & Captiva Multiple Listing Service Activity Nov 25-Dec 2, 2016

Sanibel

CONDOS

3 new listings: Mariner Pointe #322 2/2.5 $529K, Sunset South #11C 2/2 $599K (our listing), Sundial East #L402 2/2 $749K.

2 price changes: Mariner Pointe #1412 1/1 now $385K, Sand Pointe #113 2/2 now $749K.

5 new sales: Mariner Pointe #522 2/2 listed at $449K (our listing & sale), Sandpiper Beach #504 2/2 listed at $789K, Sundial East #P401 2/2 listed at $899K (our listing), Sanibel Surfside #127 2/2 listed at $1.15M, Gulfside Place #115 2/2 listed at $1.595M (our buyer).

1 closed sale: Sundial #P205 2/2 $745K.

HOMES

3 new listings: 5308 Umbrella Pool Rd 3/2 $625K, 9436 Yucca Ct 3/2 $649K, 1561 San Carlos Bay Dr 3/4 $2.895M.

2 price changes: 9209 Kincaid Ct 3/2 now $479K, 1842 Woodring Rd 3/3.5 now $1.95M.

7 new sales: 671 Rabbit Rd 3/2 listed at $649K, 750 Nerita St 3/2 listed at $699K, 2549 Harbour Ln 3/2 listed at $749.5K, 1559 Sand Castle Rd 3/2 listed at $799K, 1146 Buttonwood Ln 3/3 listed at $975K, 5751 Baltusrol Ct 3/4 listed at $1.05M, 1717 Jewel Box Dr 3/3.5 listed at $2.1M.

4 closed sales: 970 Palm St 3/2 $519K, 1076 Sand Castle Rd 2/2 $575K, 588 Hideaway Ct 3/2 $670K, 3675 West Gulf Dr 3/2 $2.8M.

LOTS

2 new listings: 2998 Singing Wind Dr $199K, 978 Main St $210K.

No price changes, new or closed sales.

Captiva

CONDOS

No new listings, price changes, or new sales.

2 closed sales: Lands End Village #1639 2/2 $1.35M, Seabreeze at South Seas #1253 3/3 $1.497M.

HOMES

1 new listing: 11505 Gore Ln 5/5 $1.895M.

3 price changes: 11537 Laika Ln 4/3 now $1.549M, 11526 4/4 duplex now $1.799M, 14860 Mango Ct 5/4 now $2.34396M.

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.)

luminary-116Until next Friday, hope your Luminary Trails are as bright as on the island!

Susan Andrews, aka SanibelSusan

Almost Thanksgiving on Sanibel & Captiva


pilgrims-and-indiansSusan here, reporting the end of another busy week at SanibelSusan Realty Associates.

For those not in town, I would be remiss if I didn’t mention that this week has been the weather that makes most locals happy. Bright breezy days with temperatures down into the 60’s at night. The highs forecast for the next week range from low to high 70’s.

Picture perfect Thanksgiving weather for those lucky enough to be here for the holiday. Great weather for viewing property too, so we hope to have lots of real estate inquiries over the next week.

We had good showing action this week with some weekend and early week showings already scheduled for next week. It should be a busy one – holiday and all.

The activity posted in the Sanibel & Captiva Islands Multiple Listing Service since last Friday, follows a few news items.

Sanibel & Captiva Islands Association of Realtors®

Sanibel realtors logoYesterday morning was the local Association of Realtors® November Membership meeting.

At The Sanctuary – This week being a West-End Caravan, it was handy that the meeting was at the newly refurbished Clubhouse at The Sanctuary. Here are a few photos of the new décor. It is beautiful with a natural coastal modern casual vibe.

sanctuary-11-17-16-lobbysanctuary-11-17-16-living-rmsanctuary-11-17-16-club-fireplacesanctuary-11-17-16-club-dining

After the meeting, I got a private tour of the new 6000 sq. ft. fitness center by Club Manager Ken Kouril. This building is under construction, but is two months ahead of schedule. Now due to open in January. It will be a wonderful improvement for Sanctuary owners too. The facility which replaces a smaller building taken down some months ago, will house larger areas for exercise equipment, plus a huge yoga studio, special spa treatment rooms, and larger locker/baths/changing areas. The new pool outside is large – as big as the Rec Centers – and elevated with expansive deck area. Next to the tennis courts will be court(s) for the new popular sport – pickle ball.

News From City Hall – The speakers at the meeting were Sanibel City Manager Judith Zimomra; Sanibel Senior Planner Roy Gibson, and City Accounting Operations Manager Laura Zautcke.

sanctuary-speakers-11-17-16

Sanibel City Manager – Judie began her comments with “Every town is unique. Everyone thinks theirs is. Sanibel really is.”

As partners in our industry, Judie further described how the City works to keep government lean and taxes low and how Council has focused on ways to systematically increase property values, by getting growth through reinvestment. Examples are renovations of commercial buildings like Bennett’s Fresh Roast which formerly was an old real estate office and Huxters Center which recently updated both inside and out through a new waiver system.

Sanibel Senior Planner – Roy’s power point further discussed planning and zoning initiatives for redevelopment of nonconforming island properties. The goal of the redevelopment vision statement is to provide equitable process for redeveloping non-conforming properties that existed at the time of incorporation to redevelop through a transparent process without expanding existing non-conformities. The redevelopment process steps include reviewing the existing Land Development Code regulations and amending them to enhance incentives and improve standards for redevelopment, including Build-back Regulations (non-conforming structures and non-conforming uses), Resort Housing District, and Commercial District standards.

Other recent amendments to Sanibel regulations related to redevelopment include pervious brick pavers (excluded from coverage calculations) and a revised definition of substantial improvement. Regarding pervious pavers for residential driveways, the pavers now are excluded from calculations of impermeable coverage. This exclusion applies only for conforming properties, and currently only applies to driveways for single-family and duplex properties.

Regarding substantial improvements – this is a big change. “Substantial improvement means any repair, reconstruction, rehabilitation, addition or other improvement, or combination or accumulation of any repair, reconstruction, rehabilitation, addition or other improvement of a structure in which the cost of the improvement equals or exceeds 50% of the market value of the structure at the time that an application is filed”. This 50% rule used to apply for five years, now it applies per project, so allows for more improvements in shorter timeframes.

Sanibel City Accounting Operations Manager – During Laura’s financial presentation, she described the changes in the City’s 2016/2017 budgets. Her pie chart on taxes paid by Sanibel citizens based on final rates adopted by taxing authorities in September showed the 2016 average residential taxable value to be $558,975 with an average tax bill of $8,641. Of that bill, 45.2% goes to Lee County schools, 26.2% goes to Lee County, 14.9% goes to the City of Sanibel, and 13.7% goes to independent districts (like the Sanibel Library District, Sanibel Fire & Rescue District, etc.)

She also proudly described how Sanibel’s operating millage rate steadily has gone down from 2.5 in 2007 to 1.9139 which was the rate in 2016 and will be again in 2017.

Essentially during the same time, 2006 to 2015, Citywide outstanding debt (governmental, sewer, & pension) has gone from $79,147,305 to $40,634,677.

Thanks to these speakers for keeping our Realtors® up-to-date on what is happening at City Hall. We appreciate these annual presentations and City cooperation with us and our members whether it be researching properties, their permit histories, improvement potential, or in educating us on ways to improve our services. We are very lucky to have them, their resources, and partnership.

1 in 4 Florida Owners With Mortgage is ‘Equity Rich’

Florida Realtors logoPosted on line yesterday at FloridaRealtors®:

“ATTOM Data Solutions’ Q3 2016 U.S. Home Equity and Underwater Report finds that 23.4% of U.S. homeowners with a mortgage are equity rich, meaning their loan-to-value ratio is 50% or lower. It’s a year-to-year increase of more than 2.6 million owners.

“In Florida, the ratio is similar, according to ATTOM, where 23.2% of owners with a mortgage are equity rich.

On the flipside, 16% of Florida owners with a mortgage are still “seriously underwater,” meaning they have a loan-to-value ratio of 125% or higher. Nationwide, the seriously underwater percentage is 10.8% – a year-to-year decrease of 854,000-plus homeowners.

“”Close to one in every five U.S. homeowners with a mortgage is now equity rich thanks to a combination of rising home prices and lengthening homeownership tenures,” says Daren Blomquist, senior vice president at ATTOM Data Solutions.

“”Median home prices increased on a year-over-year basis for the 18th consecutive quarter in Q3 2016, and homeowners who sold in the third quarter had owned their home an average of 7.94 years – a new high in our data and substantially higher than the average homeownership tenure of 4.26 years pre-recession,” says Blomquist. “As homeowners stay in their homes longer before moving up, they are amassing more home equity wealth.”

“A closer look by metro areas finds no Florida city in the top 10 on ATTOM’s list, however. Still, one city – Cape Coral-Fort Myers – was notable for being the only state city in the list of seven metro areas that saw the number of equity-rich homeowners increase by more than 10% as the area logged a 11.5% point increase.

However, one Florida metro area also made ATTOM’s list of seven cities where more than 20% of homeowners with a mortgage are still underwater: Lakeland-Winter Haven ranked at No. 7 with an even 20%.”

Upcoming Island Events

Nov 20 – Sunday – Sanibel Annual Thanksgiving Celebration beginning at 6:30 p.m. at BIG ARTS Schein Performance Hall.  Free non-denominational celebration of Thanksgiving. (SanibelSusan and fellow BIG ARTS chorus members will be singing, as will a new children’s chorus from The Sanibel School.)

flyer2016

Nov 24 – Thanksgiving Day – Turkey Bowl from 9 to 11 a.m. – 2-hand touch football at Sanibel Community Park, open to all ages.

Nov 25 & 26 – Friday & Saturday after Thanksgiving – 25th Sanibel Masters Art Festival from 9 a.m. to 5 p.m. at Sanibel Community Part (across the street from SanibelSusan Realty). BIG ARTS Community Chorus is singing two holiday sets Saturday morning.

Sanibel & Captiva Islands Multiple Listing Service Activity November 11-18, 2016

Sanibel

CONDOS

6 new listings: Sanibel Arms #B1 1/1 $369K, Sundial West #G307 1/1 $424.9K, Sundial West #H209 1/1 $439K, Loggerhead Cay #434 2/2 $639K, Snug Harbor #312 3/2 $739K, High Tide #C101 2/2 $1.195M (our listing).

c-bldg-closest

High Tide #C101 is 2600 sq. ft. – the entire first floor, one up over covered parking & storage at ground level. Elevator opens to only this unit & the one above. Light & bright with windows all-’round. Never rented, this residential condo offers easy living in small 14-unit complex with beachside pool, plus tennis on West Gulf Drive. Gulf view too!

2 price changes: Tennisplace #C21 2/1.5 now $369,555; Sandy Bend #6 2/2 now $949K.

3 new sales: Kimball Lodge #263 1/1.5 listed at $415K, Mariner Pointe #622 2/2.5 listed at $639K, Kings Crown #315 2/2 listed at $899K.

1 closed sale: Sundial West #A208 2/2 $790K.

HOMES

12 new listings: 2030 Sunrise Cir 3/3 $699K; 525 N Yachtsman Dr 3/2 $749K; 1559 Sand Castle Rd 3/2 $799K; 1683 Bunting Ln 3/3 $799,555; 8991 Mockingbird Dr 3/2 $829K; 1232 Par View Dr 3/2.5 $929K; 5838 Pine Tree Dr 3/3 $1.295M; 2474 Wulfert Rd 3/3/2 $1.495M, 3790 West Gulf Dr 3/2.5 $1.6M; 1717 Jewel Box Dr 3/3.5 $2.1M; 267 Ferry Landing Dr 3/2 $2.195M, 2405 Blue Crab Ct 4/4.5 $2.695M.

9 price changes: 4619 Brainard Bayou Rd 3/2 now $549.9K; 752/754 Cardium St 4/2 duplex now $639.9K, 3152 Twin Lakes Ln 3/3 now $789K; 3354 Barra Cir 3/2 now $899K; 1270 Bay Dr 3/2 now $1.299M; 2479 Blind Pass Ct 3/2 now $1.3M; 513 Lighthouse Way 3/3 now $1.795M; 2451 Blind Pass Ct 4/4.5 now $1,999,999; 4190 Dingman Dr 4/3.5 now $2.299M.

2 new sales: 5279 Umbrella Pool Rd 3/2 listed at $648K, 677 Durion Ct 3/2 listed at $728K.

2 closed sales: 1333 Par View Dr 3/2 $825K, 4014 West Gulf Dr 3/2/2 $1.35M.

LOTS

No new listings.

1 price change: 6419+6428 Pine Ave now $1.499M.

No new sales.

2 closed sales: 2153 Periwinkle Way $265K, 3965 Coquina Dr $350K.

Captiva

CONDOS

1 new listing: Bayside Villas #5320 3/3 $650K.

No price changes, new sales, or closed sales.

HOMES & 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.)

pilgrims-and-indians_whimsyclipsThanksgiving good wishes to all,

Susan Andrews aka SanibelSusan

Woohoo…Sanibel/Captiva Island Real Estate Activity Has Picked Up!


dolphins-with-baby

It has been another busy real estate week on Sanibel and Captiva Islands. Several SanibelSusan Realty listings had excellent showings and we also had several good meetings with owners considering selling. One new listing is effective this week and another will be posted in a few days, and another a few days after that. I was out showing to several parties, several times, while Teammates David and Lisa also were showing yesterday. It’s great to see almost as much action as the November dolphins jumping in the above photo. (Note the Mama with baby on the right.)

Sanibel & Captiva Islands Association of Realtors®

Sanibel realtors logoYesterday’s Realtor® Caravan Meeting was not as well attended as last week, but the National Association of Realtors annual convention, being held in Orlando this year, may have something to do with that.

This wek the Sanibel/Captiva Caravan of new listings was for West End properties. Next week, when it rotates to East End, we will have two new listings open (from 9 a.m. until noon).

The activity posted since last Friday in the Sanibel & Captiva Multiple Listing Service follows a couple of news items below.

Interest Rates Stay Put, But Door Open For December Hike

Florida Realtors logoYesterday, FloridaRealtors® on-line posted the following:

“The Federal Reserve held its key interest rate steady Wednesday and left the door open to a December rate hike amid an improving economy. In a statement after a two-day meeting, the Fed said it decided to keep its federal funds rate at a historically low 0.4%.

2000px-US-FederalReserveBoard-Seal.svg“The Fed said “the case for a rate increase strengthened,” but policymakers decided, “for the time being, to wait for some further evidence of continued progress toward its objectives.” That largely mirrored the September statement, except the Fed added that only “some” advances are needed, suggesting a rate hike may be at hand. The statement added that “inflation has increased somewhat since earlier this year” and removed its previous assertion that “inflation is expected to remain low in the near term.”

“The Fed’s preferred measure of annual inflation, which excludes volatile food and energy costs, is still below its 2% annual target, but it has edged up steadily this year, reaching 1.7% recently. That could pave the way for a rate hike as soon as December.

“Stocks, already on pace for a seventh day of losses, fell further after the statement but shortly began staging a recovery. Some economists said the Fed was unlikely to send an explicit signal of a December rate increase similar to a reference in October 2015 to a possible hike at the “next meeting.”

With markets already pricing in an increase anyway, Fed officials would prefer not to close off their options, economists said. “Absent substantial shocks, they’re set on December,” says UBS economist Drew Matus.

“Among potential shocks are a contested presidential election next week or a victory by Republican Donald Trump that roils markets, economist Paul Ashworth of Capital Economics says.

“After Wednesday’s statement was released, fed fund futures reckoned there was a 72% chance the Fed will lift its benchmark rate at a Dec. 13-14 meeting, up from 68% a day earlier.

“It was unlikely the Fed would act just days before the election, potentially disrupting markets and coloring perceptions of the economy and presidential candidates Trump and Hillary Clinton.

USATodayLOGO“The Fed has stood pat since raising its federal funds rate in December for the first time in nine years, citing factors such as China’s economic slowdown, the United Kingdom’s Brexit vote, volatile markets and a spring slump in U.S. job growth.” Copyright © 2016, USATODAY.com, USA TODAY, Paul Davidson

Upcoming Island Events

bait_box_new_logoTomorrow – Saturday – Esperanza Woodring Memorial Cast Net Rodeo – beginning at 8:30 a.m. at The Bait Box, 1041 Periwinkle Way.

Nov 6 – Sunday – Sanibel Blues & Jazz Festival – 1 to 7 p.m. at Bailey’s Center.veterans-day

Nov 11 – Friday – Veterans Day Ceremony – beginning at 11:45 on the grounds of Sanibel City Hall.

Nov 13 – Sunday –  CROW’s 35th “Taste of the Islands” 12 to 5 p.m. at Sanibel Community Park (across the street from SanibelSusan Realty). SanibelSusan will be working with the front door open (to attract some business & hear the music).

TASTEoftheISLAND-4c-B

Sanibel & Captiva Islands Multiple Listing Service Activity October 28-November 4, 2016

sancap GO MLS logoSanibel

CONDOS

7 new listings: Blind Pass #A205 2/2 $449K, Sundial East #P201 2/2 $789K, Sandpiper Beach #504 2/2 $789K, Gulf Beach #102 2/2 $799K, (our listing, photos below), Surfside 12 #A4 3/2 $869K, Nutmeg Village #100 2/2 $1.195M, Compass Point #192 2/2 $1.295M.

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1 price change: Sundial West #F103 2/2 now $459.5K.

2 new sales: Sanibel Arms West #B8 2/2 listed at $529.9K, Villa Sanibel #2G 2/2 listed at $589K.

4 closed sales: Tennisplace #D21 1/1 $212.85K, Casa Blanca #8 1/1 $255K, Sundial West #F105 1/1 $385K, Mariner Pointe #813 2/2 $437K.

HOMES

6 new listings: 1411 Sandpiper Cir 2/2 half-duplex $439K, 743 Elinor Way 3/2 $695K, 998 Fish Crow Rd 3/2 $725K, 5306 Umbrella Pool Rd 4/4 $895K, 941 Pecten Ct 3/2 $975K, 6494 Sanibel-Captiva Rd 3/2 $2.495M.

7 price changes: 1585 Serenity Ln 3/3 now $574.9K, 4215 Old Banyan Way 3/3 now $699K, 1809 Bowmans Beach Rd 3/2 now $799.9K, 5757 Pine Tree Dr 3/2.5 now $850K, 660 Oliva St 3/3 now $899K, 1724 Bunting Ln 3/4 now $995K, 6129 Starling Way 3/2.5 now $1.39M.

1 new sale: 1150 Schooner Pl 2/2 listed at $599K.

2 closed listings: 9292 Belding Dr 3/2.5 $399K, 988 Beach Rd 3/3 $850K.

LOTS

1 new listing: 602 Boulder Dr $459K.

1 price change: 9426 Sage Ct now $269K.

No new sales.

1 closed sale: 1242 Anhinga Ln $495K.

Captiva

CONDOS

2 new listings: Bayside Villas #5136 1/2 $315K, Beach Homes #18 4/3 $3.495M.

No price changes or new sales.

2 closed sales: Bayside Villas #4102 1/2 $277.5K, Bayside Villas #5240 1/2 $320K.

HOMES

1 new listing: 11523 Andy Rosse Ln 5/5/5 $2.599M.

2 price changes: 14980 Binder Dr 4/3 now $1,377,991; 14860 Mango Ct 5/4 now $2,343,981.

1 new sale: 11537 Laika Ln 4/3 listed at $1.575M.

No closed sales.

LOTS

Nothing to report.

(This representation is based, in whole, or in part, on data supplied by the Sanibel & Captiva Islands Association of Realtors® or its Multiple Listing Service. Neither the association nor its MLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or its MLS may not reflect all real estate activity in the market. The information provided represents 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, when hopefully we have more real estate action to report, here are a few more dolphins showing off!

Happy weekend! Susan Andrews, aka SanibelSusan

more-dolphins

Wrapping Up October Real Estate on Sanibel & Captiva Islands


sunset from master

It’s Susan with The SanibelSusan Team’s weekly update on island real estate activity. Things on Sanibel & Captiva Islands definitely are picking up.

We were especially reminded of that last Friday afternoon when 3 p.m. rolled around and traffic backed-up in front of the office heading east on Periwinkle. First time, we recall that happening in October, but it’s in line with the many visitors who come this month every year and saying that this year the island is busier than they remember it.

Of course, we hope plenty of these visitors are looking to buy real estate. Over the last seven days, there were three condo sales and a home sale on Sanibel, and one condo sale on Captiva. Those numbers need to pick up considerably for us to really say that “season” is in full swing. The activity posted since last Friday in the Sanibel & Captiva Multiple Listing Service follows a couple of news items below.

Sanibel & Captiva Islands Association of Realtors®

Sanibel realtors logoYesterday’s Realtor® Caravan Meeting was well attended, with many dressed in costume adding some levity to our usually serious announcements.

Twelve new listings were on the following caravan tour including ours at 537 Lake Murex Circle. These meetings have now reverted to the “every Thursday” morning schedule, with up to 20 properties allowed each week, so if you are on the islands on Thursday mornings watch for the open house signs, if you like to preview new listings too.

Mortgage Rates Surge to 4-Month High

FreddieMacLogo_3According to “Daily Real Estate News” on line, last week, “for the second week, mortgage rates moved higher. This time, the 30-year fixed-rate mortgage inched above 3.5% for the first time since June.

““This month, mortgage rates seem to be catching up to Treasury yields and returning to pre-Brexit levels,” says Sean Becketti, Freddie Mac’s chief economist.

“Freddie Mac reports the following national averages with mortgage rates for the week ending Oct. 20:

  • 30-year fixed-rate mortgages: averaged 3.52%, with an average 0.5 point, rising from last week’s 3.47% average. Last year at this time, 30-year rates averaged 3.79%.
  • 15-year fixed-rate mortgages: averaged 2.79%, with an average 0.5 point, also rising from last week’s 2.76% average. A year ago, 15-year rates averaged 2.98%.
  • 5-year hybrid adjustable-rate mortgages: averaged 2.85%, with an average 0.4 point, increasing from last week’s 2.82% average. Last year at this time, 5-year ARMs averaged 2.89%.”

These rates still are near historic lows, but if you are thinking of taking advantage of them, you may want to lock in soon as increases may continue.

Sanibel Community House Update

Community Ctr renovationConstruction is moving along at the Sanibel Community House, but in their update this week, they mentioned that a delay is definite and that the annual mini-golf usually held between Christmas and New Years has been postponed. The annual island Thanksgiving Celebration held the Sunday before the holiday, this year will be at Schein Performance Hall at BIG ARTS, rather than the Community House. Appears that the new Community House will be ready in early January.

New Closing Rules Remain a Challenge

It has been a little more than a year since new federal closing rules took effect. Under the rules, the HUD-1 Settlement Form was replaced with a new Closing Disclosure, the Good Faith Estimate was replaced with a new Loan Estimate, and some new timing requirements were imposed.

realtor logoReal estate professionals continue to have concerns with the changes and were among the many people and organizations that submitted almost 1,600 comments to the Consumer Financial Protection Bureau as it works to finalize a rule that would try to improve the process. The National Association of Realtors® (NAR) also submitted comments. Among other points, NAR says it remains too difficult for real estate professionals to get a copy of the closing disclosure so they can help their clients.

For many years on the islands, most sales have been cash. However, the low interest rates this year have brought an increased number of sales with bank financing. That probably will continue into “season”. Those sales with loans are the ones affected by the new federal forms, disclosures, and additional time requirements.

Most local Realtors® – us included – encourage buyers to do their financing here, not only are local lenders more attuned to what is needed for a loan on a barrier island, but their rates are competitive – and often better than a distant hometown bank. Also, it is much easier for us and local title companies to keep tabs on loan processing and ensure that timetables are met, when the lender is local.

Sanibel & Captiva Islands Multiple Listing Service Activity October 21-28, 2016sancap GO MLS logo

Sanibel

CONDOS

5 new listings: Donax Village 33 2/2 $499K, Villa Sanibel #2G 2/2 $589K, Sanibel Surfside #127 2/2 $1.15M, Signal Inn #19 3/2 $1.195M, Golden Beach #2 3/2.5 $1.499M.

2 price changes: Lake Palms #8 2/2.5 now $345.5K, Tigua Cay #487 3/3.5 now $1.849M.

4 new sales: Blind Pass #B203 3/2 listed at $575K, Loggerhead Cay #211 2/2 listed at $599K, Sunset South #15B 2/2 listed at $999K, Surfside 12 #B3 3/2 listed at $1.124M.

3 closed sales: Sundial West #B108 1/1 $340K, Sandpebble #2B 2/2 $390K (our listing & sale), Sanibel Surfside #117 2/2 $935K.

HOMES

9 new listings: 1851 Farm Trail 3/2 $529K, 1150 Schooner Pl 2/2 $599K, 1245 Anhinga Ln 3/2 $649K, 958 Sand Castle Rd 3/2 $679K, 1809 Bowmans Beach Rd 3/2 $799K, 537 Lake Murex Cir 3/3 $949K (our listing, shown below), 3019 Poinciana Cir 5/3.5 $950K, 2479 Blind Pass Ct 3/2 $1.1M, 407 Bella Vista Way 4/4 $3.199M.

5 price changes: 5105 SanibelCaptiva Rd 4/3 now $677.7K, 5751 Baltusrol Ct  3/4 now $1.05M, 900 Almas Ct 3/3.5 now $1.289M, 1326 Seaspray Ln 4/4.5 now $2.145M, 5075 Joewood Dr 4/4.6 now $3.59M.

1 new sale: 1333 Par View Dr 3/2 listed at $879K.

1 closed listing: 3792 Coquina Dr 3/3 $987.5K.

LOTS

No new listings.

1 price change: 690 Birdie View Pt now $389K.

No new or closed sales.

Captiva

CONDOS

No new listings or price changes.

1 new sale: Seabreeze #1253 3/3 listed at $1.569M.

1 closed sale: Marina Villas #807 2/2 $645K.

HOMES

No new listings.

3 price changes: 14980 Binder Dr 4/3 now $1,377,998; 11537 Laika Ln 4/3 now $1.575M; 14860 Mango Ct  5/4 now $2,343,999.

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.)

Hard to believe that next Friday is November. Until then,

Susan Andrews, aka SanibelSusan

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Photo by Jim Anderson, JMA Photography