It’s Still a Great Time to Buy Island Real Estate as the Month of May Begins with Great Weather on Sanibel & Captiva

Posted on May 2, 2014 by SanibelSusan

As SanibelSusan wraps up another real estate week on the island, there are 25 finalized Sanibel sales to report: 17 condos and eight homes. Two of the condos were SanibelSusan listings.

Those closings bring total Sanibel closed sales year-to-date up to 154 (69 condos, 75 homes, and 10 lots). Another 85 Sanibel properties are under contract (31 condos, 50 homes, and 4 lots). The total number of closed sales year-to-date are just a tad ahead of last year when 148 properties had sold by now (52 condos, 86 homes, and 10 lots). This winter the most popular product was high-end condos.

Our weekly report below describes the activity posted in the Sanibel & Captiva Islands Multiple Listing Service over the last seven days, including our new listing at Mariner Pointe. (Below is a slide show of some of the amenities at Mariner Pointe.)

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First some island and real estate news:

Dunes Traffic Study Results

In preparation for The Dunes roads being resurfaced in the summer of 2015 (a project expected to cost in excess of $700,000) and as follow-up on the concerns of some residents that their community is being used as a “cut-through” for commuters during “season”, the City performed a traffic study of The Dunes and nearby roadways in March.

The results of the study were presented in a special meeting at The Dunes Pavilion this week when it was reported that 64% of the vehicles accessing the Dunes during the study’s peak period (4-6 p.m. March 19-21) were “pass-through” traffic.

Sanibel Public Works Director, Keith Williams, who spoke during the meeting, said “That total is higher than your typical neighborhood, but it doesn’t appear that speeding is an issue here, although we have heard several complaints about that.” Interestingly, the study also concluded that through-out the 2-hour peak period, eastbound traffic along Periwinkle Way averaged 5 miles per hour. Many Dunes residents at the meeting completed a feedback survey and offered suggestions.

Island Night – Save the Date

Sanibel’s 21st Island Night is Wednesday, June 4. This is the 21st year of the celebration which in 2004 was renamed Sam Bailey’s Island Night in honor of Sam whose vision was to bring the island communities together for a common purpose.

The fun begins at Hammond Stadium at 6:15 p.m. with a parade around the ball field.

The game is at 7:05 p.m. with the Fort Myers Miracle versus the Lakeland Flying Tigers.

Free tickets are available from sponsors and at Bailey’s General Store. Contributions, which have totaled more than $150K over the years, have been distributed to help many local organizations, non-profits, and scholarships.

Mark your calendar on June 4 to enjoy a fun-filled night with the locals – camaraderie, baseball, your favorite ballpark concessions, plus cake from The Bubble Room!

Housing Recovery Ending? Not Yet

“Realtor®Mag” on-line posted the following article last Friday:

“”Several housing reports out this week have painted a picture of a sluggish start to the spring-selling season. New-home sales plunged 14.5% in March, reaching the lowest level in eight months, according to the Commerce Department. Existing-home sales posted a slight drop in March, falling 0.2% from February, but the sales volume was at its lowest point since July 2012, according to the National Association of REALTORS® (NAR).

“So is the housing recovery ending? Not yet, housing experts say.

“Several challenges persist: Low housing inventories, tight access to mortgage financing — particularly for first-time home buyers — and the decrease in housing affordability as home prices and mortgage rates rise, notes Rick Sharga, an executive vice president at Auction.com who used to be an exec at Carrington Mortgage Holdings and RealtyTrac.

“Still, Sharga says the recovery remains on track. “This feels like a relatively normal market correction,” he notes in a column for HousingWire. “Prices rose rapidly and have stayed high due to limited inventory, causing affordability issues for potential home buyers. This has created a bit of a lull in terms of sales volume, but prices continue to go up, albeit more slowly. That, in turn, will create more positive equity and eventually result in more homes — existing and new — on the market, which will cause prices to soften, hopefully in tandem with somewhat more lenient lending practices.”

“Lawrence Yun, NAR’s chief economist, also sees an uptick in housing in the months ahead.

“With ongoing job creation and some weather-delayed shopping activity, home sales should pick up, especially if inventory continues to improve and mortgage interest rates rise only modestly,” he says.”

The Worst Is Over, But the Best Is Nowhere Near

Another “Realtor®Mag” article posted on-line this week offered good follow-up to the article above, when at a recent legislative and leadership summit for real estate managers, economists and industry leaders, NAR Chief Economist Lawrence Yun had more to say:

“The country isn’t likely to fall into a repeat recession, NAR chief economist Lawrence Yun told real estate management professionals meeting in Washington, D.C., last week. But that’s hardly cause for celebration among economists.

“On the plus side, the country has added nearly 8 million jobs, replacing all those lost during the downturn, Yun said. Growth in consumer spending and high household net worth also bode well for the economy.

“However, Yun was quick to stress, the economy is not thriving by any means. Business spending is growing at the slow, steady rate of 2%, he said, rather than a sustained 5% to 10% rate that would suggest real economic growth. Yun said businesses are “flush with cash.” While corporations typically leverage funding to outspend profit levels, recent data shows business spending and profits to be nearly equal, as executives are leery of overspending. This has resulted in improved balance sheets for most organizations, including banks.

“Yun’s comments came during the Institute for Real Estate Management’s 2014 Legislative and Leadership Summit held April 5-9.

“Diving into real estate industry data, Yun said commercial real estate is slowly recovering from 2009, when transactions declined by 90%. Multifamily has steadily outshined the other sectors, partly because of the inability of many renters to convert to home ownership.

“Another factor contributing to the strong performance of multifamily real estate is the lack of supply. “New construction in all sectors has yet to recover in any meaningful way,” Yun said. Housing construction, in particular, would need to rise by more than 50% to be restored to previous levels. This persistent under production of single-family and multifamily housing will continue to lead to low vacancy rates and rising rents for this sector, Yun said.

“After sharing the market outlook, Yun was joined by real estate industry leaders Jeff Day, CEO of Berkeley Point Capital LLC, and Jonathan Miller, partner at Miller Ryan LLC and author of the Urban Land Institute’s Emerging Trends in Real Estate.

“When asked where he would invest in the current market, Miller stressed the desirability of “24-hour cities — large cities in global pathways linked by international transportation hubs.” According to Miller, this is where the major part of the economy is growing and where most institutional and foreign capital is concentrated. Other areas are more lackluster, he said, with both market prices and rents for office buildings remaining stagnant for up to two decades in some cases. “It’s a have and have-not situation,” Miller said.

“Still, the panel said the big-city model is being successfully replicated in smaller markets, such as Reston, Va., where a town center is home to a vibrant community with condominiums, movie theatres, and other retail spaces, attracting young professionals.

“Yun predicted that both the Millennial and boomer generations will contribute to the desirability of condominiums in these 24-hour cities. “I’d invest in 24-hour cities that are developing. Look at areas where traffic is getting worse,” Yun said. “Build condos in 24-hour cities. Apartments are already there, but there is a pent-up demand for condos. A sizable number of renters will want to convert over to ownership. Therefore, property management of condos will be rising.”

“The panel also forecast continued economic success in Texas cities and up through the middle of the country in the so-called “energy states.”

“Addressing office-sector trends, Day told the audience to look for more amenities being offered on business campuses. The new model is to “glue them to the campus with dry cleaning, food, and so forth,” Day said, allowing workers to interact and complete personal business on-site.

“When asked about the demand for green features in commercial real estate, panelists agreed that generally, lenders are interested in making sure they make loans on sustainable income streams. To that end, green features can be desirable, but factor into more of a capitalistic decision than an altruistic one.

“Ultimately, the panelists agreed, the outlook for commercial real estate is good, with all sectors in recovery mode. Money is flowing again, they said. This will lead to continued growth in the industry — and demand for professional real estate managers to keep things operating strongly.”

Countries Where There’s a Rush for U.S. Real Estate

If you missed the “24/7 Wall Street” article earlier this month, here is how it was reported in on-line “Daily Real Estate News” on April 15. Made me think about how my advertising budget is reaching these buyers.

“Foreign buyers are being lured to U.S. real estate due to what they perceive as bargain prices, economic stability, and a “safe haven for investors,” 24/7 Wall St. reports. Interest in U.S. real estate from international buyers in ten countries has soared since 2009 by 95% or more. In nine of those countries, the interest has at least doubled, according to data from RealtyTrac. “The U.S. real estate market is coming off of a rough patch and entering recovery mode,” says Daren Blomquist, RealtyTrac’s vice president. “International buyers see it as a great time to jump in and catch the U.S. market on the upswing.” 24/7 Wall St. compiled data from RealtyTrac to find that the following countries are showing the highest increases in interest in purchasing American homes.

United Arab Emirates: Growth in prospective home buyers: 352.2%, Share of international prospective buyers: 1.1% (12th highest)
Switzerland: Growth in prospective home buyers: 269.7%, Share of international prospective buyers: 2.1% (8th highest)
Hong Kong & China: Growth in prospective home buyers: 254.2%, Share of international prospective buyers: 4.1% (4th highest)
France: Growth in prospective home buyers: 190%, Share of international prospective buyers: 2.8% (6th highest)
Italy: Growth in prospective home buyers: 178.4%, Share of international prospective buyers: 1.9% (10th highest)
United Kingdom: Growth in prospective home buyers: 153.8%, Share of international prospective buyers: 12.1% (2nd highest)
Australia: Growth in prospective home buyers: 121.9%, Share of international prospective buyers: 11% (3rd highest)
Canada: Growth in prospective home buyers: 107.7%, Share of international prospective buyers: 45% (the highest).”

Homes Are Getting Bigger

There were some fun statistics posted in the May issue of “Florida Realtor®” magazine that arrived this week. This info is according to Census Bureau data and the National Association of Home Builders (NAHB).

The average new-home size has continued to rise, from 2,362 sq. ft. in 2009 to 2,679 sq. ft. in 2013.
The share of new homes with at least four bedrooms has risen from 34% in 2009 to 48% last year.
From 2005 to 2011, the number of annual new-home sales has dramatically declined, from 1.28 million to 306,000.

Lee County Meeting Venues

Occasionally, I am asked, “Where could my company hold a business meeting or conference on Sanibel?”

That’s a tough question if your company is a large one, as even our 350+member local Association of Realtors® has had trouble through the years finding spots to hold our weekly caravan and membership meetings.

Several years ago, the Association purchased the commercial strip mall where Finnimore’s Cycle Shop is located and converted the upper floor into conference spaces and meeting rooms.

The April issue of “Gulfshore Business” magazine listed the largest Southwest Florida meeting venues.

Here are the ones in Lee County.

Note that only Sundial Beach Resort is on Sanibel and South Seas Island Resort on Captiva.

Sanibel Harbour is nearby, close to the toll booth before the causeway.

“Germain Arena: 171,000 sq. ft.
Alico Arena: 120,000 sq. ft.
Lee Civic Center: 90,000 sq. ft.
Hyatt Regency Coconut Point Resort & Spa: 73,000 sq. ft.
Sanibel Harbour Marriott Resort & Spa: 45,000 sq. ft.
Harborside Event Center: 42,000 sq. ft.
Broadway Palm Dinner Theatre: 36,000 sq. ft.
South Seas Island Resort: 28,000 sq. ft.
Sidney Berne Davis Art Center: 10,000 sq. ft.
Sundial Beach Resort: 10,000 sq. ft.
The Westin Cape Coral Resort at Marina Village: 10,000 sq. ft.
Crowne Plaza Fort Myers at the Bell Tower Shops: 8,500 sq. ft.
DiamondHead Beach Resort: 8,000 sq. ft.
Holiday Inn Airport @ Town Center: 7,000 sq. ft.

Sanibel & Captiva Islands Multiple Listing Service Activity April 25-May 2, 2014

Sanibel

CONDOS

4 new listings: Sanibel Arms West #J4 2/2 $475K, Mariner Pointe #811 2/2 $499K (our listing), Sanibel Siesta #308 2/2 $500K, Pointe Santo #A21 2/2 $819K.

3 price changes: Sundial #H111 1/1 now $279K, Coquina Beach #5D 2/2 now $375K, Sunset South #1C 2/2 now $439K.

2 new sales: Breakers West #B5 2/2 listed for $459K, Sandpiper Beach #302 2/2 listed for $599K.

17 closed sales: Donax Village #9 1/1 $248K, Captains Walk #C1 2/1 $280K, Sundial #H107 1/1 $298K, Beach Road Villas #104 2/2 $313K (our listing), Kimball Lodge #263 1/1.5 $314K, Beach Road Villas #102 2/2 $330K, Seawind #102 2/2.5 $380K, Sundial #J108 2/2 $460K, Compass Point #212 2/2 $520K, Sundial #Q302 2/2 $625K, Nutmeg Village #105 2/2 $650K, Loggerhead Cay #121 2/2 $699K, Surfside 12 #C3 3/2 $750K, Sanibel Arms #F8 2/2 $775K, Kings Crown #302 2/2 $890K (our listing), Janthina #1A 3/2 $1.03M, Sedgemoor #103 3/3.5 $2.35M.

HOMES

7 new listings: 966 Greenwood Ct 3/2.5 Half-duplex $398.5K; 2098 Wild Lime Dr 2/2 $435K; 320 Palm Lake Dr 2/2 $439K; 1841 Ibis Ln 2/2 $458K; 490 Christine Rd 2/2 $629,555; 3131 Twin Lakes Ln 3/2 $724,999; 842 Limpet Dr 3/3.5 $1.675M.

6 price changes: 421 Lake Murex Cir 3/2 now $515K, 1294 Sand Castle Rd 3/2 now $529K, 9228 Belding Dr 2/1.5 now $545K, 4563 Brainard Bayou Rd 3/2 now $599K, 4648 Buck Key Rd 3/2 now $685K, 1206 Bay Dr 4/4.5 now $3.15M.

8 new sales: 553 Lake Murex Cir 3/2 listed for $579K, 1019 Lindgren Blvd 3/2 listed for $769K, 1130 Seagrape Ln 4/3 listed for $799K, 2552 Harbour Ln 3/2 listed for $895K, 1001 Kings Crown Dr 3/2.5 listed for $899K, 395 Old Trail Rd 5/4 listed for $899K, 6010 White Heron Ln 3/2.5 listed for $959K, 9007 Mockingbird Dr 3/3 listed for $1.075M.

8 closed sales: 1252 Sand Castle Rd 3/2 $500K, 710 Pyrula Ave 2/2 $569.5K, 460 East Lake Rd 2/2 $589K, 5307 Ladyfinger Lake Rd 3/2.5 $575K, 977 Black Skimmer Way 3/2 $570K, 923 Pepper Tree Pl 3/2 $700K, 5049 Joewood Dr 6/7.5 $3.8M, 906 Snowberry Ln 4/4.5 $4.1M.

LOTS

Nothing to report.

Captiva
CONDOS
Nothing to report.

HOMES

No new listings.

1 price change: 16249 Captiva Dr 3/3 now $2.375M.

1 new sale: 15361 Captiva Dr 5/4 listed for $2.595M.

1 closed sale: 17201 Captiva Dr 4/5.5 $3M.

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.

Here’s to another cheerful Friday on Sanibel Island! Cheers! Susan

“Best Weather” Month Coming Up on Sanibel Island

Posted on April 25, 2014 by SanibelSusan

It is official. “high season” in Florida is over. Real estate inquiry calls have slowed down and I heard that even internet and foot traffic at the Chamber of Commerce suddenly has dropped off. After 22 years on Sanibel, it still is always amazing how fast the islands go from gridlock to quiet. Related mostly to school breaks ending and spring weather arriving elsewhere, I guess. Too bad, as the month of May often has some of the “best” weather!

Yesterday at the Sanibel & Captiva Islands Association of Realtors® Thursday Caravan Meeting only one house was on tour, again indicative of the time of the year. Attendance was down too, with almost as many affiliate business partners there as real estate agents. Beginning May 1, these meetings will revert to the every-other-week off-season schedule. Between now and summer, the islands usually experience a return of prospective buyers who did not buy during the winter – often because they could not view all of the properties that interested them. SanibelSusan Realty associates are ready for them.

Below are a few news items, followed by an update of the Sanibel and Captiva Islands Multiple Listing Service action over the last week. Of the two island condo closings this week, one was ours. We also had the only lot sale closing.

Sea Turtle Nesting Season Begins May 1

Baby loggerhead

The 2013 sea turtle nesting season on Sanibel and Captiva was the 3rd highest season on record according to the May-June issue of SCCF’s (Sanibel-Captiva Conservation Foundation) “Member Update”. Last summer 26,641 live hatchlings were produced from the islands’ two beaches. Of the 483 nests documented, 23 were by green sea turtles

SCCF also announced that Sanibel and Captiva now are using the online nesting and stranding databases found at www.seaturtle.org. This means that when the 2014 sea turtle season begins, the nesting data may be viewed in real-time throughout the season.

Sea turtles are among the world’s oldest creatures. On Sanibel and Captiva where the beaches provide subtropical nesting areas for threatened loggerhead and endangered green turtles, more than 100 island residents volunteer each summer as part of SCCF’s Sea Turtle Research and Monitoring Program which operates under a permit from the Florida Fish and Wildlife Conservation Commission.

Each day during nesting season, May to October, the 18 miles of Gulf beaches from Sanibel Lighthouse to the tip of Captiva are checked beginning at dawn. Nests are identified and marked for monitoring and protection. Later in the season, new hatches are evaluated and recorded.

If your property is on the beach, remember sea turtles are threatened by light pollution. Bright lights can disorient nesting egg-laden female turtles. For hatchlings, instinct drives them from their nests on beaches towards the brightest horizon, ideally the waterline on an undeveloped coast. Lighting from buildings or even flashlights confuses nesting females and hatchlings, so please keep those lights out.

Sanibel’s city web site, www.mysanibel.com has an easy way to test if your property is in compliance with the City’s sea turtle protection ordinances:

“Stand on the beach on a moonless night and look seaward. If you can see your shadow cast towards the water, there is too much light behind you.” Check the web site for more info.

Americans Prefer Real Estate Over Stocks, Gold

Like my Dad always said, “Put your money into real estate!”

“RealtorMag” on-line posted the following article from a Gallup (Poll) article (Apr 17, 2014):

“Americans have renewed confidence in real estate as a great investment. In fact, Americans believe real estate is the “best” long-term investment, followed by gold, stocks, mutual funds, savings accounts/CDs, and bonds, according to a new Gallup Poll of … adults who were asked to choose the best option for long-term investments. Bonds were the least favorite investment among the options Gallup surveyed.

In 2011, Americans surveyed said the most popular long-term investment was gold. That also marked a time when gold was at its highest price and real estate and stock values were lower than today, Gallup notes.

““With housing prices improving across the country, Americans are regaining faith that real estate is the best choice for long-term investments,” according to Gallup. “Home ownership is also associated with views of real estate as an attractive investment opportunity.”

“Americans with higher incomes are the most likely to say real estate and stocks are the best investments – “possibly because of their experience with these type of investments,” according to the Gallup poll.

“Higher income Americans are most likely to say they own their home (at 87%), followed by middle-income earners (at 66%) and lower-income earners (36%).

“Home owners are slightly more likely than renters to say real estate is the best choice for long-term investments – 33% versus 24%, respectively, according to the Gallup poll.”

Earth Day & Your Diet

SanibelSusan’s EcoBroker certification requires renewal each year about the same time as Earth Day. With that renewal comes an educational update, so when I did that class work this week, I also read several of postings about Earth Day. Here is an extract from “National Geographics” with some of their Water Conservation Tips. These interesting facts were posted under their subheading, “Diet”:

“The water it takes to produce the average American diet alone—approximately 1,000 gallons per person per day—is more than the global average water footprint of 900 gallons per person per day for diet, household use, transportation, energy, and the consumption of material goods.

“That quarter pounder is worth more than 30 average American showers. One of the easiest ways to slim your water footprint is to eat less meat and dairy. Another way is to choose grass-fed, rather than grain-fed, since it can take a lot of water to grow corn and other feed crops.

“A serving of poultry costs about 90 gallons of water to produce. There are also water costs embedded in the transportation of food (gasoline costs water to make). So, consider how far your food has to travel, and buy local to cut your water footprint.

“Pork costs water to produce, and traditional pork production (to make your sausage, bacon, and chops) has also been the cause of some water pollution, as pig waste runs into local water sources.

“On average, a vegan, a person who doesn’t eat meat or dairy, indirectly consumes nearly 600 gallons of water per day less than a person who eats the average American diet.

“A cup of coffee takes 55 gallons of water to make, with most of that H2O used to grow the coffee beans.”

Many HOAs Are Underfunded

A step in the home buying process should always include a review of the association documents including their financials. The following article posted on Apr 22, 2014 at on-line “Daily Real Estate News” and sourced to “Kiplinger’s Personal Finance” (April 2014) describes why:

“More homeowners’ groups may be operating with insufficient reserves, which could one day result in an unexpected increase in costs to home owners.

“An estimated 70% of association-governed communities are underfunded, a rise from 60% a decade ago, according to a new report from the consulting firm Association Reserves. Associations that lack adequate reserves may impose large special assessments for emergency repairs, says Robert Nordlund, Association Reserves’ founder. What’s more, home owners who don’t pay could then face liens against their property, or the association could even have the power to foreclose on them.

“Housing experts urge home buyers to ask for a copy of the homeowner group’s most recent reserve study and ask about the percentage of residents who are more than 60 days delinquent on their fees. It affects the association’s cash flow, and when “you’re buying into a nonprofit corporation, you need to find out if that corporation is stable,” Nordlund notes.

Sanibel & Captiva Islands Multiple Listing Service Activity April 18-25, 2014

Sanibel
CONDOS

2 new listings: Duggers Tropical Cottages #5 1/1 $324.9K, Nutmeg Village #308 2/2 $799.9K.

6 price changes: Spanish Cay #A6 1/1 now $268.5K, Tennisplace #B24 2/1 now $299.9K, Loggerhead Cay #453 2/2 now $499K, Sayana #103 2/2 now $715K, Shorewood #2B 3/3 now $1.395M, Seascape #104 3/3 now $2.2M.

2 new sales: Sanibel Inn #3535 2/2 listed for $699K, Compass Point #133 2/2 listed for $1.185M.

3 closed sales: Sundial #G305 1/1 $310K, Kings Crown #104 2/2 $850K (our buyer), Villa Sanibel #1G 2/2 $870K.

Beach in front of Kings Crown

HOMES

3 new listings: 2551 Sanibel Blvd 2/2 $489K, 1337 Eagle Run Dr 3/2.5 $1.25M, 283 Ferry Landing Dr 3/2 $1.695M.

7 price changes: 5141 SanCap Rd 2/2 now $320K; 989 Dixie Beach Blvd 3/2 now $595K; 1744 Bunting Ln 4/2 now $609.9K; 420 East Gulf Dr 3/3 now $749K; 917 Pepper Tree Place 4/3 now $829,407; 419 Lighthouse Way 4/3 now $859K; 5615 Baltusrol Ct 4/4/3 now $4.399M.

3 new sales: 9263 Kincaid Ct 3/2.5 listed for $449K, 3711 Agate Ct 3/2.5 listed for $799K, 4622 Rue Belle Mer 4/2 listed for $809K.

3 closed sales: 1344 Tahiti Dr 2/1 $410K, 542 Kinzie Island Ct 3/3.5 $1.8M, 4717 Rue Belle Mer 3/3 $1.94M (short sale).

LOTS

1 new listing: 3338 West Gulf Dr $429K.

2 price changes: 2988 Wulfert Rd now $399K, 2993 Wulfert Rd $599K.

No new sales.

1 closed sale: 1118 Sand Castle Rd $165K (our listing).

Lot just sold in The Dunes

Captiva
CONDOS

2 new listings: Lands End Village #1655 2/2 $1.095M, Lands End Village #1657 2/2 $1.095M.

3 new sales: Tennis Villas #3229 1/1 listed for $235K, Ventura Captiva #4B 3/3 listed for $797.5K, Sunset Beach Villas #2338 3/3 listed for $850K.

No new sale.

1 closed sale: Tennis Villas #310 1/1 $200K.

HOMES
No new listings or price changes.

2 new sales: 11541 Laika Ln 4/4 listed for $1.65M, 16645 Captiva Dr 8/9/2 listed for $1.095M.

No closed sales.

LOTS

Nothing to report.

SanibelSusan is ready for May – best weather month on the island!

It’s Spring-Ahead Weekend on Sanibel Island

Posted on March 7, 2014 by SanibelSusan

It’s another perfect Friday on Sanibel Island. We are all ready to turn the clocks ahead on Sunday so we can enjoy more of this wonderful weather, later in the evenings.

Here are a few quick news items, followed by the week’s real estate action as reported in the Sanibel & Captiva Islands Multiple Listing Service.

Florida Realtors® Applaud House Passage of Flood Insurance Bill

Florida Realtors® posted the following notice on-line on Wednesday:

“Realtors across Florida support the Homeowner Flood Insurance Affordability Act, H.R. 3370, overwhelmingly passed by the U.S. House Tuesday, 306-91.

““This action in Congress will bring the much-needed certainty our real estate market has been missing since Biggert-Waters went into effect, and provide immediate relief to Florida homeowners who were facing financial ruin due to sudden and drastic flood insurance premium increases,” said 2014 Florida Realtors® President Sherri Meadows, CEO and team leader, Keller Williams, with market centers in Gainesville, Ocala and the Villages. Meadows added, “While good-intentioned, the Biggert-Waters Act had the effect of stigmatizing properties that are in flood zones. Current property owners, as well as those looking to buy, didn’t know if a new flood map might be adopted next week or next year. This legislation will give property owners in Florida and across the country peace of mind, by ensuring a slow and steady phase-in of risked-based increases.”

“Cyndee Haydon, associate broker with Future Home Realty in Clearwater, noted that the unintended consequences of the Biggert-Waters Act was making Florida locations less attractive to families, retirees and others looking to move here because of the dramatic, soaring cost of flood insurance in many areas. “I’m excited that the legislation addresses the affordability of flood insurance and provides a ‘glide path’ for premium increases of about 15% a year (for those not paying the full rates yet),” Haydon said. “This takes out the fear and the unknown factor.”

“Brandi Gabbard, chair of the Pinellas Suncoast Association of Realtors and broker-associate with Smith & Associates in St. Petersburg, said that the House bill allows for homeowners of properties that currently have subsidized policies with the National Flood Insurance Program (NFIP) to be “grandfathered in” again. “That’s a huge win for homeowners,” Gabbard said. “We also hope to see more interest from private insurers to offer flood insurance policies. The Pinellas County area has seen good success with Lloyds of London and Homeowners’ Choice Property and Casualty Insurance Company. There are several bills legislators are introducing in Tallahassee to support the private market for flood insurance. Encouraging competition among private insurers will be the long-term, sustainable answer for this issue.”

“Under the U.S. House bill:

Immediate increases in flood insurance premiums up to 10 times the previous cost are eliminated.

Those who already paid such increases receive refunds.

Primary homeowners not already paying full rates could see their annual rate increases average 15% and be capped at 18%.

Second homes and businesses not already paying full rates could receive premium increases of about 25% per year.

Renewal increases are capped at 18% for homes in newly mapped flood zones.

The Federal Emergency Management Agency (FEMA) has a goal of having annual premiums not exceed 1% of total coverage provided by the policy.”

77th Annual Sanibel Shell Festival is NOW

Photo by Pam Rambo at www.ILoveShelling.com

Photo by Pam Rambo at http://www.ILoveShelling.com

Featuring shells, shell art, crafts and books, juried artistic and scientific exhibits, this annual event at The Sanibel Community House began on Thursday and runs through tomorrow (Saturday).

It unexpectedly got closed down early yesterday when Southwest Florida experienced a brief period of wind and heavy rain, but it is back in business again today.

New Sanibel Cell Tower is Up & Running

The City’s new cell phone tower located on utility department lands just off Donax Street now is operational. Verizon built the tower on land leased from the City to boost cell service on the east-end. The tower doubles as a flag pole, with positive comments already received from those driving onto the island and viewing the huge new American flag waving. There are spaces on the tower for other carriers and rumor has it that AT&T is in negotiation for the 2nd tower slot.

News from The Sanctuary Golf Club

Sheryl Tatum, Director of Membership at The Sanctuary emailed her March newsletter this week. It announced that they have reached their maximum 100 Social Memberships. A Waiting List now has been implemented. Effective March 1, the Social Membership Fee is $15,000. The other membership categories include: Equity Membership $110,000; Introductory Membership $10,000; and Temporary Membership $5,000 for 1 month or $7,500 for 2 months.

Troubled by Tightened Lending Restrictions?

That is certainly what I have heard more than once lately from well-qualified buyers, even those only looking to borrow a small percentage of the funds needed to purchase their new property. The following article by Michael Kodsi in the March issue of “FloridaRealtor®” magazine may explain why.

“Don’t be. Here are the facts about the new residential Qualified Mortgage rule and what you can expect.

“For the past few years, securing financing for your customers has been a challenge. Tighter loan restrictions and fewer lending programs have stymied many a real estate purchaser. So it’s understandable that real estate professionals are a little concerned about the new Qualified Mortgage rule that went into effect in January. How will homebuyers be impacted? Will this slow housing sales? Here are the facts to help you understand what a Qualified Mortgage is so you can prepare your customers for the changes. You’ll also know what to expect from lenders.

“Simply put, the new Qualified Mortgage rule – also know as the ability-to-repay rule – is designed to make sure that borrowers can repay their mortgage loans.

“As defined by the Consumer Financial Protection Bureau (CFPB), a Qualified Mortgage is a loan with a term no longer than 30 years, with the points and fees paid by the borrower not exceeding 3% of the total loan amount. Lenders must also document the borrower’s ability to repay the loan and must confirm a debt-to-income ration of no more than 43%. Lenders may still make any loan they like. However, lenders who go outside the Qualified Mortgage rule lose protection against borrower lawsuits that claim the loan was unfair.

“Will Homebuyers Be Impacted? The CFPB predicts that most homebuyers won’t be affected by the new rule because many lenders have already tightened their lending criteria. However, you should be prepared for a few changes relating to the mortgage process and be ready to advise your customers that lenders may increase the paperwork required for a home mortgage. Because lenders need to justify their underwriting decisions, many are requiring more documentation from borrowers.

“Some lenders may tighten their underwriting standards so that certain categories, including some lower- and moderate-income first-time homebuyers, may find it more difficult to obtain mortgage financing. Self-employed homebuyers who don’t have a long history of consistent income may have a tougher time getting a mortgage. It’s certainly not impossible, but more paperwork will likely be required.
“Be aware that customers looking to buy more expensive homes will probably be affected because jumbo loans – those over $417,000 – may be more difficult to qualify for.

“The bottom line? Education and preparation will go a long way when working with homebuyers. By starting the mortgage process a little earlier – perhaps even before customers begin searching for a home – you can ease any anxiety they may feel over the new mortgage rules.”

7 Bathroom Remodeling Trends

“Home Trends” remodeling adviser Mellisa Tracey posted the following article recently in “REALTOR®” magazine:

“What’s trending in bathroom remodels? Houzz recently released its 2014 Winter Bathroom Trends Study showing the top bathroom remodel preferences of more than 7,500 homeowners in the U.S. and Canada. The report shows that 60% of homeowners are targeting the master bathroom for their bathroom remodels. The two main drivers for their remodels: To upgrade features and fixtures as well as to make space more functional.

“Here are some of the growing trends that emerged from the Houzz report:

“#1 Goodbye, bathtubs. The bathtub is starting to move out of the master bathroom. More than four in ten – 43% – are forgoing a bathtub in the master bathroom, according to the report.

“#2 Frameless glass is “in”. The majority of the homeowners surveyed say they prefer glass shower enclosures and frameless glass. Glass block is “out,” according to the report.

“#3 Let there be lots of light. Adding light was one of the top goals for homeowners with their bathroom remodels, from adding windows to skylights to LED lights in the showerhead.

“#4 Showing showerhead preferences. Rain and multiple showerheads are the clear choice for homeowners under 45, while the 55-plus age group tends to prefer hand showers and sliding bars.

“#5 Seeing white. White cabinets are the top choice in master bathrooms (with medium and dark wood coming in No. 2 and No. 3, respectively). Maple is the most common type of wood used, followed by cherry and oak.

“#6 Silver bling. Silver-tone faucets remain the most popular, with brushed nickel topping the list. Polished chrome is also popular, while brushed bronze came in as the least popular choice for current bathroom remodels.

“#7 Unique powder rooms. The powder room is getting more unique features than other bathrooms. Hardwood floors, wallpaper, pedestal sinks, and furniture-like cabinets are more commonly used in these spaces than in other bathrooms.”

Sanibel & Captiva Islands Multiple Listing Service Activity Feb 28 – Mar 7, 2014

Sanibel
CONDOS
4 new listings: Sundial #I207 1/1 $324.9K, Island Beach Club #F240 2/2 $599K, Sandpiper Beach #505 2/2 $599K, Villa Sanibel#1G 2/2 $875K.
6 price changes: Sunset South #1B 2/2 now $534K, Loggerhead Cay #583 2/2 now $569K, Sanibel Surfside #133 2/2 now $885K, Pointe Santo #A2 now $898.5K, Pine Cove of Sanibel #302 2/2 now $1.15M, Seascape of Sanibel #104 3/3 now $2.37M.
5 new sales: Sundial #G206 1/1 listed for $299K, Sandpiper Beach #103 2/2 listed for $589K, Kings Crown #313 2/2 listed for $590K, Sundial #O205 2/2 listed for $768K, Sanibel Seaview #B2 3/3 listed for $1.395M.
5 closed sales: Bind Pass #E102 2/2 $365K, Heron at the Sanctuary #2B 3/3 $610K, Island Beach Club #D220 2/2 $762K, Kings Crown #218 3/2 $1.070M, By the Sea #102 2/2 $1.285M.
HOMES
9 new listings: 3837 Coquina Dr 2/2 $449K, 9455 Calla Ct 3/3 $669K, 4648 Buck Key Rd 3/2 $699K, 732 Durion Ct 3/2 $749K, 1021 Fish Crow Rd 4/3 $775K, 4500 Waters Edge Ln 2/2 $839K, 857 Birdie View Pt 3/2.5 $1.049M, 904 Almas Ct 3/2.5 $1.129M, 749 Pyrula Ave 3/3 $ 1.295M.
8 price changes: 2186 Egret Cir 3/2 now $449K, 581 East Rocks Dr 3/2 now $495K, 9446 Beverly Ln 3/3.5 now $649K, 419 Lighthouse Way 4/3 now $877K, 228 Violet Dr 3/2.5 now $880K, 512 Periwinkle Way 3/3 now $925K, 5115 Joewood Dr 4/3 now $1M, 2981 Wulfert Rd 4/4.5 now $ 1.675M.
7 new sales: 1890 Farm Tr 3/2 listed for $449K, 1565 Bunting Ln 3/2 listed for $479K, 450 Leather Fern Pl 3/2 listed for $599K, 601 Sea Oats Dr 3/2 listed for $599K, 923 Pepper Tree Pl 3/2 listed for $729K, 2498 Harbour Ln 4/3 listed for $825K, 1838 Buckthorn Ln 3/2 listed for $1.1M.
6 closed sales: 1809 Bowmans Beach Rd 3/2 435K, 579 Rabbit Rd 3/3 550K, 3205 Twin Lakes Ln 3/2 $570K, 9474 Balsa Ct 3/3 $860K, 1444 Causey Ct 4/4 $1M, 1664 Hibiscus Dr 3/2 $1.075M.
LOTS
1 new listing: 1770 Dixie Beach Blvd $729K.
2 price changes: 4626 Buck Key Rd now $188K, 5749 Sanibel Captiva Rd now $399,555.
No new or closed sales.

Captiva
CONDOS
No new listings.

1 new sale: Marina Villas #708 2/2 listed for $595K.

No closed sales.
HOMES
1 new listing: 15879 Captiva Dr 3/3 $2.995M.
No price changes.
1 new sale: 15127 Captiva Dr 8/8 listed for $1.595M.

LOTS
Nothing to report.

Looking for a Sanibel Condo? Here are a few photos of the views & amenities from some of SanibelSusan’s current listings…

Best wishes from Susan & The SanibelSusan Team for another great weekend!

Real Estate is Selling on Sanibel Island

Posted on February 28, 2014 by SanibelSusan

It’s been another fun and busy week of real estate action for The SanibelSusan Team. The glorious weather must have something to do with it!

Our listings again had good showing action. Several new buyers came in to chat about the purchasing process and to begin their property search. Dave accompanied five different inspections. Dave, Lisa, and I were out several days with different prospective buyers showing property, while Elise has been juggling showing appointments and follow-up on the feedback. But, even more importantly, more offers were negotiated. Another productive week here – what we wait for all year!

The 7-day activity report from the Sanibel & Captiva Islands Multiple Listing Service below illustrates. I don’t remember when the island has had 12 condo sales in a single week (two our listings). We definitely want that business to continue. March usually is a good time for condo sales too. New month-long renters arrive tomorrow in addition to the typical weekly Saturday turn-over guests.

Here are a couple of quick news items, including an update on flood insurance (the subject on the minds of many), followed by that report.

House to Vote on Flood Insurance

The National Association of REALTORS® (NAR) posted on-line the below notice for its members this week.

“The House is scheduled to vote up-or-down on an amended version of H.R. 3370, the Flood Insurance Affordability Act, during the first week of March. The original bill text has been stripped and replaced by substitute language that considerably strengthens the bill. The substitute bill will be considered under an expedited set of “suspended rules” procedures that limits debate and amendments, and requires a 2/3 majority to pass. This is a critical vote on a top NAR member priority. We cannot predict the fall-out if this vote fails.

“The substitute bill to be considered differs significantly from the version that the Senate passed on Jan. 30:

REPEALS (the Senate bill only delayed) the property-sales provision in the Biggert Waters law (sec. 205) that has triggered the most excessive and inaccurate premium increases over the past year.
REFUNDS (the Senate bill would not refund) excessive premiums to those who have already seen an increase but were not warned by FEMA prior to purchasing the property. (This would apply to ALL purchases of property including purchases of a second home or commercial property).
RESTORES (the Senate bill only delayed) the grandfathering of lower rates when new flood maps are issued by repealing Section 207 of the law before any increases can be implemented.”

Annual Clothesline Sale

The Sanibel-Captiva Art League’s annual sale is tomorrow (Saturday, March 1) across the street from SanibelSusan Realty and Sanibel Square at The Community House from 9 a.m. to 2 p.m.

More info at www.sancapart.com

Sanibel & Captiva Islands Multiple Listing Service Activity February 21-28, 2014

Sanibel
CONDOS
5 new listings: Tennisplace #E31 2/1 $325K, Blind Pass #G205 2/2 $439K, Sundial #G101 2/2 $445K, Mariner Pointe #842 2/2 $515K, Sundial #E104 2/2 $869K.
6 price changes: Sundial #H107 1/1 now $299K, Tennisplace #B24 2/1 now $315K, Kimball Lodge #263 1/1.5 now $349K, Sanibel Moorings #422 2/2 now $465K, Loggerhead Cay #411 now $529K, Seascape #104 3/3 now $2.395M.
12 new sales: Beach Road Villas #104 2/2 listed for $335K (our listing), Beach Road Villas #103 2/2 listed for $359.9K, Nutmeg Village #103 2/2 listed for $612K, Sundial #Q302 2/2 listed for $649K, Kings Crown #210 2/2 listed for $649K, Sundial #L202 2/2 listed for $695K, Surfside 12 #C3 3/2 listed for $749K, Pine Cove #C 2/2 listed for $839K, Pointe Santo #C25 3/2 listed for $895K, Gulfside Place #307 2/2 listed for $1.225M, Gulfside Place #319 3/2 listed for $1.295M (our listing), Sedgemoor #202 3/3.5 listed for $2.22M.
No closed sales.

HOMES
8 new listings: 1744 Bunting Ln 4/2 $637,555; 1827 Buckthorn Ln 3/2 $849K; 2538 Blind Pass Ct 3/2 $850K; 1225 Seagrape Ln 3/3 $879K; 791 Pen Shell Dr 4/3 $1.195M; 5612 Baltusrol Ct 4/3.5 $1.695M; 2969 Wulfert Rd 6/6/2 $1.95M, 1470 Middle Gulf 4/5.5 $2.495M.
10 price changes: 490 Elizabeth Dr 2/2 now $399K; 3001 Singing Wind Dr 3/2 now $580,555; 2550 Wulfert Rd 4/3.5 half-duplex now $698.5K; 1340 Eagle Run Dr 3/2.5 now $1.148.5M; 1203 Isabel Dr 2/3 now $1.195M; 1307 Seaspray Ln 4/3.5 now $1.595M; 1232 Isabel Dr 3/3 now $1.8M; 428 Bella Vista Way E 4/4 half-duplex now $1.895M; 1266 Isabel Dr 3/3 now $1.999M; 1133 Golden Olive Ct 3/3 now $2.1M.
2 new sales: 617 East Rocks Dr 3/2 listed for $599.9K, 5049 Joewood Dr 6/7.5 listed for $3.995M.
7 closed sales: 1327 Tahiti Dr 2/2 $390K, 1826 Ardsley Way 4/3 $461K, 4546 Waters Edge Ln 3/2 $485K, 1342 Sand Castle Rd 3/2 $550K, 1297 Par View Dr 3/2 $750K, 2507 Blind Pass Ct 3/3 $1.01M, 988 Whelk Dr 3/2.5 $1.035M.

LOTS
No new listings.
1 price change: 247 + 255 Robinwood Cir now $298K.
No new or closed sales.

Captiva
CONDOS
3 new listings: Tennis Villas #3217 1/1 $225K, Sunset Beach Villas #2335 3/2 $829K, Lands End Village #1637 2/2 $1.275M.
1 price change: Sunset Beach Villas #2332 2/2 now $739K.
No new sales.
2 closed sales: Bayside Villas #5132 1/2 $243.5K, Captiva Hide-A-Way #2B 2/2 $800K.

HOMES
4 new listings: 11504 Wightman Ln 4/4 $1.295M, 15879 Captiva Dr 3/3 $2.995M, 16464 Captiva Dr 8/8.5 $7.995M, 16660 Captiva Dr 5/5.5 $17M.
1 price change: 4 Sunset Captiva Ln 3/2 now $2.375M.
1 new sale: 11541 Laika Ln 4/4 listed for $1.65M.
1 closed sale: 11522 Andy Rosse Ln 5/4.5 $2.35M.

LOTS
Nothing to report.

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

Here’s to another fun-filled weekend with roseate spoonbills & more real estate sales!

SanibelSusan

Woohoo, It’s Another Great Friday at SanibelSusan Realty

Posted on February 21, 2014 by SanibelSusan

It’s Susan and The SanibelSusan Team reporting that it has been another busy week on Sanibel. Glorious weather, more real estate showings, and sales activity, plus traffic traffic traffic.

This is the view from the Mariner Pointe condo that closed on Tues (SanibelSusan’s sale)

One of the lessons learned this week is that I may need to change my tune about open houses not being productive for the property being featured. During the 3-hour open house held last Saturday at our Sanibel Lake Estates home listing, there were three showings. One turned into an offer. Turns out, before the day was done, I received two offers. It is always great to get them and it can be especially good for a seller when there are multiples; but it can be a bit disheartening too, as someone always loses out.

View from Kings Crown #104

It was not the only instance of multiple bids this week. Plenty of sales activity has been and continues to be reported. In addition to the Roseate home sale, I put a Kings Crown condo under contract, then this morning put a Sanibel Center home under contract, while this afternoon our 2-bedroom condo listing at Mariner Pointe #812 sold.

Four sales in a week make us and our clients happy!

It’s not just our office that is getting sales as the weekly report of the listing action reported in the Sanibel and Captiva Islands Multiple Listing Service below shows. It follows a few news items. We hope the momentum continues. Tomorrow is expected to the biggest check-out/check-in day of the year, so new prospective buyers will be arriving.

Sanibel & Captiva Islands Association of REALTORS® February Membership Meeting

There was standing room only yesterday morning at our Realtors® monthly membership meeting. In addition to chatter about the increased sales activity, a short educational program was presented about Island Landscaping and Native Vegetation. Presenters were SCCF (Sanibel-Captiva Conservation Foundation) Education Director, Kristie Anders, and Becca Grotrian from the Native Plant Nursery.

For years in cooperation with our local Association of REALTORS®, SCCF has offered a welcome package for new island owners. It includes an introductory free 1-year SCCF membership and a property visit by one of SCCF’s Native Plant Nursery specialists, like Becca.

If you too are wondering how you can reduce landscaping and water costs, aid the environment and critters, and want to attract butterflies and hummingbirds, here are a few of the tidbits I learned from their “show and tell”:

• Coral bean – looks like a Charlie Brown tree when it blooms, because it has no leaves then, but the rose-colored tubular blooms attract hummingbirds.
• Gammagrass – is well suited to banks & steep slopes. A good choice along the side of a lake/river/bayou for alligator diversion.
• Joewood – the official tree of Sanibel is slow growing (10-15′) & has small white fragrant blooms, butterflies love it & it’s on the endangered species list.

• Firebush – fun colorful & showy shrub blooms for months & attracts both birds & butterflies. Hummingbirds especially love this plant too.

• Mimosa – often used as a grass replacement/ground cover, has pinky puffy flowers & acts as a host for sulphur butterflies.

• Spiderwort – often used as ground cover has a small blue flower.
• Simpson’s stopper – has small flowers & an orange fruit that birds love.

• Coontie – ground cover that will eventually clump to 3’x3′, it’s a cycad, an ancient plant, with cones both male & female. Birds & small animals like the seeds, & is a host for the atala butterfly, also called arrowroot & Seminole bread because early settlers extracted their edible starch.
• Buccaneer palm – on the endangered list, grows to 10-15′.

• Caroline jessamine vine – has yellow blooms in the winter & grows to 20′.

More info on SCCF’s website: http://sccf.org.

Sanibel Presidents’ Week Traffic

Here’s my traffic story of the week. On the Monday holiday, Periwinkle Way in front of SanibelSusan Realty was blocked in both directions starting mid-afternoon. By 6 p.m. when I was ready to go home and it still was blocked both ways, I decided to be resourceful and head west, thinking I could travel Tarpon Bay Road as a way to get to the Gulf Drives – so I could eventually head east via what we call “the back way”. This time, it didn’t work as when I got to Tarpon Bay Road, it was blocked in both directions too.

My next idea was to take the path of least resistance and to go even further west, by traveling Tarpon Bay Road to San-Cap Road, then to Rabbit Road and West Gulf Drive. That entire trip took an hour. As the cars crawled down Tarpon Bay Road passing the post office, up ahead along the side of the road I spied Matt Asen, owner of The Timbers and The Sanibel Grill. He was standing at the restaurant entrance waving a cardboard sign that said “Beat the Rush Hour Traffic, Come in For Happy Hour”. Since the cars weren’t moving much, that sign may not have been very effective, but it sure gave me a laugh. A little traffic is a small price to pay for the extra business and wonderful weather we enjoyed here this week.

Sanibel & Captiva Islands Multiple Listing Service Activity February 14-21

Sanibel
CONDOS
2 new listings: Loggerhead Cay #474 2/2 $490K, Loggerhead Cay #373 2/2 $559K.
7 price changes: Blind Pass #E206 2/2.5 now $464.9K, Sunset South #1C 2/2 now $474K, Sundial #O302 2/2 now $699K, Shell island Beach Club #5D 2/2 now $775K, Pine Cove #1A 2/2 now $779K, Sundial #E208 2/2 now $799K, Anglers Key #201 3/3 $1.699M.
8 new sales: Sundial #G105 1/1 listed for $319K, Seawind #109 2/2.5 listed for $399K, Mariner Pointe #812 2/2 listed for $459K (our listing), Sunset South #6A 2/2 listed for $520K, Heron at The Sanctuary #2B 3/3.5 listed for $625K, Nutmeg Village #105 2/2 listed for $689.9K, Kings Crown #104 2/2 listed for $895K (our buyer), Plantation Village #A112 3/2 listed for $1.1M.
4 closed sales: Seashells #21 2/2 $316,356; Mariner Pointe #112 2/2 $535K (our sale); Sunset South #14A 2/2 $710K; Bougainvillea #4 3/3 $937.5K.

HOMES
6 new listings: 2079 Wild Lime Dr 3/2 $535K, 696 Sea Oats Dr 3/2 $575K, 706 Emeril Ct 3/2 $679.9K, 5690 Pine Tree Dr 3/2 $839.9K, 5743 Baltusrol Ct 3/3.5 $1.475M, 4265 West Gulf Dr 3/4.5 $4.495M.
9 price changes: 1596 Bunting Ln 2/2 now $409K, 1890 Farm Trl 3/2 now $449K, 1364 Jamaica Dr 2/2 now $499.9K, 778 Cardium St 3/3 now $525K, 590 Lake Murex Cir 2/2 now $699K, 497 Lake Murex Cir 4/3 now $759K, 475 Sea Oats Dr 3/3 now $835K, 1130 Seagrape Ln 4/3 now $839K, 800 Birdie View Pt 3/3.5 now $1.099M.
11 new sales: 966 Fitzhugh St 2/1 listed for $333K (our sale), 1960 Roseate Ln 3/2 listed for $449K (our listing), 4546 Waters Edge Ln 3/2 listed for $499K, 421 Lake Murex Cir 3/2 listed for $569K, 1787 Serenity Ln 3/2 listed for $$579K, 977 Black Skimmer Way 3/2 listed for $599.9K, 706 Emeril Ct 3/2 listed for $679.9K, 1306 Par View Dr 3/3.5 listed for $799K. 231 Daniel Dr 3/2.5 listed for $998.5K, 988 Whelk Dr 3/2.5 listed for $1.095M, 1480 Angel Dr 3/3 listed for $1.545M.
3 closed sales: 696 Durion Ct 3/2.5 $565K, 991 Whelk Dr 4/3 $1.05M, 2380 Troon Ct 4/5 $1.75M.

LOTS
3 new listings: 861 Birdie View Pt $369K, 4363 Gulf Pines Dr $389.9K, 6159 Starling Way $589.9K.
1 price change: 6081 Henderson Rd now $199.9K.
No new sales.
1 closed sale: 3351 Saint Kilda Rd $349,555.

Captiva
CONDOS
No new listings.
1 price change: Beach Homes #6 3/3 now $1.895M.
1 new sale: Bayside Villas #5136 1/2 listed for $295K.
No closed sales.

HOMES
No new listings.
2 price changes: 15127 Captiva Dr 8/8 now $1.595M, 1114 Schefflera Ct 4/3.5 now $1.849M.
1 new sale: 11527 Andy Rosse Ln 4/4 listed for $2.695M.
3 closed sales: 11515 Laika Ln 4/4.5 $2.05M, 1133 Longifolia Ct 3/3 $3.487.5M, 15017 Binder Dr 3/3.5 $3.4M.

LOTS
Nothing to report.

Here’s to another busy weekend of real estate sales & sunny weather on Sanibel!

Weekend wishes to all…SanibelSusan

The Weekend Forecast Says Sunny & Mid-70’s on Sanibel Island

Posted on January 31, 2014 by SanibelSusan

It sure is nice to be back on Sanibel this week where the outside temperature is warmer than the inside temperature at that chilly Orlando hotel I visited last week for the Florida REALTORS® Mid-Winter Business Meetings. Kidding aside, the islands had a couple of cool (60-degree) days recently as well as some much-needed rain. Starting tomorrow, just in time for the February arrivals, temperatures are expected to be back into the mid-70’s to low 80’s and the forecast for the immediate future is sunny! Now is a great time to vacation on Sanibel and Captiva Islands and to show and sell property.

SanibelSusan Realty got a nice home listing this week at 1960 Roseate Lane in Sanibel Lakes Estates. Our professional photographer will be filming tomorrow but there are some initial photos are below.

Several of our listings had some solid positive feedback from showings this week. There will be lots more showings tomorrow in those investment rental properties during that brief window when some tenants depart, cleaners do their magic, and other renters arrive.

Following a few news items, below is the action reported in the Sanibel and Captiva Islands Multiple Listing Service over the past seven days. It’s getting busy!

City of Sanibel Designated 4th Safest City in Florida

The following was posted early this week on the City’s website:

“The City of Sanibel has been designated the 4th safest city in Florida. To determine the ten safest places in Florida, the Federal Bureau of Investigation (FBI) 2012 crime statistics were evaluated. The 202 cities in Florida with populations over 5,000 were each evaluated in the study. The study evaluated crimes in each community in three categories:

Property crimes (theft, burglary, motor thefts)
Violent crimes (rape, murder, theft)
Chance a resident will be a victim of crime.

“The above criteria were weighted with a greater emphasis on violent crime, followed by property crime and then the likelihood a resident would be a crime victim. Thus, violent crimes account for 50% of the ranking, property crimes account for 30% of the ranking and a resident’s likelihood of being a crime victim accounts for 20% of the ranking.

“To place the study in perspective, 421,192 crimes were committed in 2012, in the 202 cities analyzed. In 2012, 114 of these crimes occurred within the Sanibel city limits and none were violent crimes. To view the full announcement click here.

“Upon reviewing the report, Sanibel Mayor Kevin Ruane stated, “By design, the safety of citizens and visitors is our community’s highest priority. While this recognition is appreciated, we are recommitted to remaining a safe town in which to live, work and recreate.”

“Sanibel Chief of Police Bill Tomlinson added, “We are a safe community because our citizen’s care and we work together in partnership with our residents and businesses. We encourage our community to report suspicious activity and vehicles, and they do. Crime prevention is the major focus of our Department.”

“”Investments by the Sanibel City Council into best available technology, training and equipment support our safety initiatives. Furthermore, our Police Officers regularly meet with homeowner’s associations and business owners to be certain that everyone understands that suspicious behaviors should be reported, and reported promptly to the Police Department,” stated Sanibel City Manager Judith Zimomra.

“In 2013, the Sanibel Police Department responded to 24,790 calls for service. Any Sanibel organization that would like to schedule a presentation by the Sanibel Police Department should contact Chief Tomlinson at (239) 472-3111.”

What’s on REALTORS®’ Minds

The following was posted on “Daily Real Estate News” this week and echoes the concern that I have heard from local colleagues and at the Florida REALTORS® Mid-Winter Business Meetings:

“Though the market is poised to continue its gains in 2014, a number of issues cited by members of the National Association of REALTORS® have the potential to slow things down, according to a new survey.

The REALTORS® Confidence Index is a key indicator of housing market strength based on a monthly survey sent to …real estate practitioners. The survey routinely asks for expectations regarding home sales, prices, and market conditions… As 2014 begins, REALTORS® noted a number of concerns that they felt could be a drag on the recovery:

regulations pertaining to Qualified Mortgage (QM) loans
reductions in FHA loan ceiling limits
a further increase in mortgage rates
slow job growth
uncertainties associated with the cost of flood insurance
potential impacts from the Affordable Care Act

“NAR’s outlook for the coming year is overwhelmingly positive, but the organization says that the market “is essentially moving sideways—growing at a more tempered pace than was the case last year. Future prices are generally projected to continue to increase, but at a more subdued pace than was previously the case.””

LCEC News – Rate Decrease in 2014

Great news reported in the “LCEC News” January newsletter: “While many utilities are increasing electric rates, LCEC (Lee County Electric Co-op) is reducing rates in 2014. We have not raised electric rates for five years and we continue to work hard to keep rates competitive. LCEC will decrease the power cost adjustment (PCA) beginning January 1, 2014. Natural gas prices recently reached a historical low, allowing power suppliers with diverse fuel mixes to take advantage of reduced fuel costs. LCEC shares these savings with customers. The LCEC Board of Trustees approved a decrease in the PCA from $17.96 per 1,000kWh to $16.65 per 1,000 kWh.

“Although the cost of materials, labor and purchased power has risen over the past few years, a calculated business strategy has helped LCEC manage operating costs. Process improvements, proactive maintenance, constant budget oversight, the use of technology and the diligence of employees have all contributed to holding the line on LCEC electric rates.”

Citizens Property Insurance Says Clearinghouse Works

Here is some interesting news on wind insurance. Wednesday, Florida REALTORS® sourced this article to “The Palm Beach Post” (West Palm Beach, FL).

“A new computer clearinghouse launched Monday to steer insurance customers out of state-run Citizens and into private insurers seems to be functioning properly, officials said, and agents reminded consumers it contains only four private carriers so shop around. Citizens officials said they processed 500 requests for information by noon Monday, though the early going includes tests that are not necessarily transactions affecting real customers.

“The launch comes in a rocky few months for government websites, with the federal healthcare.gov and the state’s unemployment website having more than a few well-publicized problems. The clearinghouse debut was delayed from Jan 2 to Monday so participating insurers could get better prepared technologically, officials said. The number of carriers initially taking part has gone from four to an expected seven back to four.

““The clearinghouse is functioning successfully, and we are pleased with the preliminary results,” said Steve Bitar, Citizens vice president of consumer and agent services. “We are continuing to monitor clearinghouse activity and expect to have more detailed information available at the Board of Governors meeting Wednesday. The initial response has been very positive.”

“The system is designed to shrink Citizens by making would-be customers ineligible for the state-run company’s coverage if a private insurer is offering coverage priced up to 15% more. During the second quarter of the year, renewing Citizens customers will not be able to stay with the company if a private insurer is offering coverage priced the same or less.

“Brightway Insurance agent Bill Goldman of Jupiter noted the clearinghouse does not necessarily represent all the options a consumer may have, so homeowners may want to shop around on their own. “If you’re put through Citizens’ clearinghouse, you’ll get quotes from just a small subset of companies in the state,” Goldman said.

“Those participating initially include Ark Royal, Florida Peninsula, Safe Harbor and United Property & Casualty, Citizens said. Up to 16 more carriers are expected to join the clearinghouse in March through July, including Heritage Property and Casualty of St. Petersburg.

“Under traditional transfer offers, customers can choose to stay with Citizens, but they will not have that choice if the clearinghouse rules them ineligible. That’s one reason it’s important the clearinghouse works accurately. At least 14,000 transfer letters from a private insurer, First Community, contained erroneously high Citizens renewal premiums this month, The Palm Beach Post reported. Citizens has more than 1 million customers including more than 100,000 in Palm Beach County, meaning it remains the biggest insurer locally and statewide.”

Discover ‘Ding’ App Combines Learning, Technology & Fun

As a REALTOR® often glued to their Smart phone, I enjoyed reading this recent post by the “Ding” Darling Wildlife Society:

“A new smart phone app under development for the Refuge promises to raise the interpretive bar on national wildlife refuges by delivering the first-ever GPS and game-based learning experience to visitors. The Discover “Ding” App combines game play, GPS and social media to create a fun experience that encourages users to observe and analyze what they see, and better understand the Refuge’s wildlife conservation mission. “The Discover ‘Ding’ App will offer the public a fun new way to experience the refuge, further enhancing our effort to integrate new technology and social media into our interpretive programming,” said Paul Tritaik, manager of “Ding” Darling NWR.

“A collaboration among the U.S. Fish and Wildlife Service’s “Ding” Darling refuge, the “Ding” Darling Wildlife Society-Friends of the Refuge (DDWS) and app developer, Discover Nature Apps (DNA), the Discover “Ding” App is designed to adapt to the public’s expanding reliance on smart devices by creating a positive interactive experience that encourages smart phone users to immerse themselves into their natural surroundings.

“The Discover “Ding” App helps to fulfill a key recommendation of the National Wildlife Refuge System’s Conserving the Future strategic vision, which recommends developing “integrated mechanisms for using web-based and other emerging technologies to store and share data, communicate within the System, and inspire and educate visitors and the public.” “We’re excited to be on the leading edge of what we believe will become a vital tool with which to engage refuge visitors,” said John McCabe, president of DDWS. As the refuge’s volunteer friends group, the society has been instrumental over the years in helping to underwrite innovative visitor outreach strategies and has played a leading role in promoting development of the Discover “Ding” App.

““Smart phones have become central to the lives of a vast majority of Americans – it’s how they learn, play games, and interact with others,” said Discover Nature Apps’ co-founder Sam Serebin. “It’s only natural that we leverage that remarkable functionality to offer an unparalleled interpretive experience at our national wildlife refuges and other public lands,” said Evan Hirsche, DNA’s other co-Founder.

“The Discover “Ding” App will be launched in the late spring of 2014, and will be the first of such for many to follow for national wildlife refuges and national parks throughout the country.”

Update on Flood Insurance Legislation

Late yesterday, Florida REALTORS® leadership team got a quick email update from John Sebree, Senior VP of Public Policy, on the progress of flood insurance legislation. His email said “The US Senate has just passed the Menendez-Isakson bill that would delay rate increases for four years. The final tally was 67 to 32. The legislation now moves to the House of Representatives where is it unknown when a vote will take place. Both of our US Senators (in Florida) voted for passage of this bill.”

John’s email also referred to the latest briefing from NAR (National Association of REALTORS® at http://www.realtor.org/topics/national-flood-insurance-program-nfip/nar-issue-brief-homeowner-flood-insurance-affordability-act. This article is definitely worth the read.

Sanibel & Captiva Islands Multiple Listing Service Activity January 24-31

Sanibel
CONDOS
5 new listings: Donax Village #9 1/1 $289.9K, Sundial #C301 1/1 $350K, Sundial #H103 2/2 $460K, Compass Point #133 2/2 $1.185M, Sandals #D 4/3 $2.25M.
6 price changes: Kimball Lodge #263 1/1.5 now $374K, Mariner Pointe #732 2/2 now $384.9K, Sundial #I304 1/1 now $389K, Mariner Pointe #1052 2/2 now $435K, Shell Island Beach Club #7A 2/2 now $668.5K, West Shore #3 3/3 now $1.795M.
3 new sales: Sundial #C308 1/1 listed for $339K, Blind Pass #E102 2/2 listed for $395K, Sunset South #14A 2/2 listed for $729K.
1 closed sale: Pointe Santo #C4 1/1 $430K.

HOMES
4 new listings: 1960 Roseate Ln 3/2 $449K (our listing), 1555 Bunting Ln 2/2 $449K, 1344 Tahiti Dr 2/1 $479.9K, 6019 Clam Bayou Ln 4/3 $1.595M.
3 price changes: 512 Periwinkle Way 3/3 now $950K, 1001 Kings Crown Dr 3/2.5 now $975K, 4622 Rue Belle Mer 4/2 now $819K.
7 new sales: 972 Fitzhugh St 3/2 listed for $379K, 1809 Bowman’s Beach Rd 3/2 listed for $475K, 1297 Par View Dr 3/2 listed for $769.5M, 1013 Lindgren Blvd 4/3 listed for $799K, 2507 Blind Pass Ct 3/3 listed for $1.049M, 988 Whelk Dr 3/2.5 listed for $1.095M, 1480 Angel Dr 3/3 listed for $1.499M.
8 closed sales: 5111 SanCap Rd 3/2 $249K, 724 Rabbit Rd 2/1 $430K, 4570 Bowen Bayou Rd 2/2 $550K, 2450 Wulfert Rd 3/3 $625K, 562 Lake Murex Cir 3/2 $685K, 5742 Pine Tree Dr 4/2 $703K, 6123 Starling Way 3/2.5 $805K, 340 Cowry Ct 5/3.5 $1.039M.

LOTS
1 new listing: 9066 Mockingbird Dr $410K.
3 price changes: 223 Robinwood Cir now $195K, 761 Donax St now $219K, 690 Birdie View Pt now $384K.
3 new sales: 3351 Saint Kilda Rd listed for $349.555K, 990 Beach Rd listed for $549K, 4318 West Gulf Dr listed for $749K.
No closed sales.

Captiva
CONDOS
2 new listings: Bayside Villas #5136 1/2 $295K, Ventura Captiva #5B 3/3.5 $1.095M.
No price changes, new or closed sales.

HOMES
2 new listings: 15127 Captiva Dr 8/8 multi-family $1.695M, 16861 Captiva Dr 5/5.5 $2.149M.
No price changes.
1 new sale: 15017 Binder Dr 3/3.5 listed for $3.899M.
1 closed sale: 1133 Longifolia Ct 3/3 $3.478.5M.

LOTS
Nothing to report.
This representation is based in whole or in part on data supplied by the Sanibel & Captiva Islands Association of Realtors or its Multiple Listing Service. Neither the association nor its MLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or its MLS may not reflect all real estate activity in the market. The information provided represents the general real estate activity in the community and does not imply that SanibelSusan Realty Associates is participating or participated in these transactions. If your property currently is listed with another broker, this is not intended as a solicitation of that listing.

May your weekend be wonderful – wherever you are… Happy Friday, from SanibelSusan

Chilly Weather, But Still Lots of Real Estate Happenings in Orlando & Sanibel Island

Posted on January 24, 2014 by SanibelSusan

It’s SanibelSusan reporting from Orlando that it was 46 degrees both here and on Sanibel this morning. Most of us are ready for this cold weather to be gone. It looks like Sanibel finally could get into the low 70’s again by tomorrow, but another cool-front is on its way next Wed. Ugh!

Yesterday, I finished up on the all-day audition panel for new real estate instructors and have been enjoying networking here with the Florida Realtors 2014 leadership team. Last night, the Sanibel and Captiva Islands Association of Realtors® again was recognized for their significant RPAC (REALTOR® Political Action Committee) contributions. This year, we took away four of the five awards presented to a small board, which is a new record for us.

L to R, from The Sanibel & Captiva Islands Assoc of Realtors: Shane Spring 2013 Realtor of the Year, SanibelSusan, Peggy Hummel CEO, Eric Pfeifer 2014 Prez-Elect, & Bill Robinson, MLS Director.

With flood insurance and water quality being such important issues in island real estate sales and property values, our association benefits from every cent that we collect and contribute to political action. Last night after the awards ceremony, several of us met with a national association Washington staff member. He gave us his prognosis on what is happening with the related bills currently on the hill. More pressure is needed on both of these issues.

At dinner last night, we also ran into one of the seven FREC (Florida Real Estate Commission) members. FREC is the group that administers and enforces state real estate laws. We are hoping to get her to Sanibel this year for an educational event for our members.

Subcommittee meetings are today, followed by committee meetings and forums tomorrow. Then after the 2014 Officers are installed tomorrow night, the Florida REALTORS® Directors meet bright and early Sunday morning. If all goes well, I’ll be back in the office by early afternoon. Lots of progress has already been made here for our industry (and I’ve gotten some referral business too). I am excited that I was asked to be part of the new Professionalism group that meets for the first time this afternoon. Tomorrow is the big day with our Professional Standards skit and the Resort and 2nd Home Property Specialist Forum.

Here are a couple of other news items, followed by the action posted in the Sanibel & Captiva Islands Multiple Listing Service over the past seven days.

Tarpon Bay Explorers Schedule

A few folks recently have told me that they were not aware of the many activities available through Tarpon Bay Explorers. Here is an abbreviated schedule. Confirm the schedule at http://www.tarponbayexplorers.com. Reservations are needed for most events.

Kayak Trail Tour: Daily at 8:30 a.m. & 10:30 a.m. or 11:30 a.m.; 1 or 2:30 p.m.

Sunset Rookery Paddle: Daily 2 hours before sunset.

Standup Paddleboard Tour: Tues, Thur, Sat at 9 a.m.

Breakfast Cruise: Mon, Wed, Fri at 8:30 a.m.

Nature & Sea Life Cruise: Daily at 11 a.m. & 1:30 p.m.

Evening Cruise: Daily 2 hours before sunset

Aquarium & Touch Tank: Daily at 11 a.m. & 1:30 & 3 p.m.

Refuge Tram Tour: Daily (except Fri) hourly 10 a.m. to 4 p.m.

Rentals & Fishing Charters: Daily 8 a.m. to 5 p.m., 8 a.m. to 6 p.m. starting Feb 15.

Loan Demand Back On the Upswing

On Wed, “Daily Real Estate News” sourced this article to “The Wall Street Journal”:

“After reaching a 13-year low at the end of last year, mortgage applications were back on the rise last week, the Mortgage Bankers Association reports. Mortgage applications, which include those for refinancing and home purchases, rose 4.7% on a seasonally adjusted basis for the week ending Jan 17. Broken out, demand for applications for refinancings increased 10% over the prior week, while applications for home purchases, viewed as a future gauge of home buying, dropped 4%, the MBA reports.

“The MBA’s mortgage application index had posted its lowest level in about 13 years at the end of last year, when the Federal Reserve announced it would be tapering its $85 billion per month bond-buying program in the new year. However, for the last two weeks, mortgage rates have been declining. The average rate on 30-year fixed-rate mortgages fell from 4.66% to 4.57% last week, MBA reports. That marks the lowest average for 30-year rates since this past November, according to the MBA.”

Sanibel & Captiva Multiple Listing Service Activity January 17-24

Sanibel

CONDOS

10 new listings: Sundial #D207 1/1 $269K, Tennisplace #B24 2/1.5 $325K, Sundial #D304 1/1 $339K, Loggerhead Cay #583 2/2 $595K, Kings Crown #210 2/2 $695K, Sanibel Surfside #133 2/2 $929K, High Tide #A101 3/2 $1.199M, Pine Cove #302 2/2 $1.2M, Somerset #301 3/2.5 $1.899M, Sedgemoor #106 3/3.5 $2.935M.

5 price changes: Beach Road Villas #103 2/2 now $369K, Seawind #A102 2/2.5 now $397.9K, Loggerhead Cay #453 2/2 now $547.9K, Pelicans Roost #101 2/2 now $775K, Sanddollar #C101 2/2 now $854K.

3 new sales: Duggers Tropical Cottages #5 1/1 listed for $289.9K, Blind Pass #C203 3/2 listed for $499K, Atrium #206 3/2 listed for $1.295M.

No closed sales.

HOMES

5 new listings: 972 Fitzhugh St 3/2 $379K, 490 Elizabeth Rd 2/2 $419.5K, 419 Lighthouse Way 4/3 $895K, 5427 Osprey Ct 3/3.5 $1.247M, 906 Snowberry Ln 3/3.5 $4.35M.

8 price changes: 1826 Ardsley Way 4/3 now $484.7K, 421 Lake Murex Cir 3/2 now $569K, 617 E Rocks Dr 3/2 now $599.9K, 3168 Twin Lakes Ln 3/2 now $619K, 1306 Par View Dr 3/3.5 now $799K, 1500 Angel Dr 3/2 now $1.249M, 1480 Angel Dr 3/3 now $1.499M, 2981 Wulfert Rd 4/4.5 now $1.749M.

4 new sales: 1475 Court Pl 2/1 listed for $289K, 2529 Harbour Ln 3/3 listed for $725K, 1444 Causey Ct 4/4 listed for $1.1M, 4994 Joewood Dr 3/3.5 listed for $1.459M.

3 closed sales: 1645 Sand Castle Rd 3/2.5 half-duplex 3/2.5 $395K, 398 Old Trail Rd 3/3 $320K, 575 Kinzie Island Ct 3/3 $1.25M.

LOTS

2 new listings: 898 Rabbit Rd 299K, 218 Violet Dr $390K.

No price changes.

1 new sale: 1837 Buckthorn Ln listed for $349K.

No closed sales.

Captiva

CONDOS

3 new listings: Beach Villas #2618 2/2 $685K, Captiva Bay Villas #B 3/3.5 $1.875M, Beach Homes #18 4/3 $2.675M.

No price changes, new or closed sales.

HOMES

2 new listings: 16813 Captiva Dr 3/2.5 $1.995M, 16428 Captiva Dr 7/8/2 $10.75M.

No price changes.

1 new sale: 17041 Captiva Dr 2/2 listed for $1.695M.

3 closed sales: 15631 Captiva Dr 5/4.5 $1.55M, 15899 Captiva Dr 4/3 $2.71M, 16838 Captiva Dr 7/7.5 $4.5M.

LOTS
Nothing to report.
This representation is based in whole or in part on data supplied by the Sanibel & Captiva Islands Association of Realtors or its Multiple Listing Service. Neither the association nor its MLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or its MLS may not reflect all real estate activity in the market. The information provided represents the general real estate activity in the community and does not imply that SanibelSusan Realty Associates is participating or participated in these transactions. If your property currently is listed with another broker, this is not intended as a solicitation of that listing.

Here’s hoping it warms up sooner rather than later, my flip flop wearing feet are chilly! Happy weekend, SanibelSusan

Record Temps & Picture-Perfect Sanibel & Captiva Islands Weather

Posted on January 11, 2013 by SanibelSusan

Photo courtesy of Jim Anderson, JMA Photography

You probably have heard about Florida in the news this week. It was the warmest state in the nation several times and set records some days for some of the highest recorded January temperatures in SW Florida. Gorgeous bright blue skies and sunny days with 80 degree weather have kept islanders – and visitors and vacationers – smiling.

The roads and bike paths thinned out a little this week when the holiday visitors departed, but my pals in reservations tell me that they had a few record days with bookings this week – undoubtedly thanks to our terrific weather – and the opposite in other parts of the world. Be sure and tell your friends/family planning an island visit this winter that they should not delay in making reservations. Rumor has it that many popular peak nights already are fully booked.

Check-ins are expected to be light again tomorrow and the following Saturday, with the big influx of winter visitors expected to arrive on the 26th. The island will be busy from then until Easter.

Here are a few real estate and island news items followed by the activity reported in the Sanibel and Captiva Islands Multiple Listing Service this week.

Traveling from Sanibel to Captiva

Teammates Dave and Lisa viewed some Captiva properties that were open for Realtor® Caravan yesterday. During their travels, they took a few pictures of the wildlife in Clam Bayou and along Sanibel-Captiva Road.

View into Clam Bayou

Eagle’s nest in Gulf Pines

Gopher Tortoise stopping traffic on San-Cap Road

Osprey in flight with fish

Quite a few upcoming happenings were added to my island events calendar too. Check them out if you are looking for things to do on particular day. It’s going to be busy winter here, http://sanibelsusan.com/island-events-calendar/

Beginning the New Year at The Sanibel & Captiva Islands Association of Realtors®

David, Lisa, and I attended the local Association of Realtors® Installation and Awards Banquet on Saturday night. Incoming Florida Realtors® President Dean Asher came to Sanibel to perform the induction ceremony. I was one of twenty local Realtors® to receive an Honor Society Award – perhaps the only one for the 20th year in a row. Honor Society awards are presented annually to those of our ~300 Realtor® members earning recognition for their professionalism through education, participation, and community service. Our leadership’s goal this year is to get more of those Realtors® involved.

In 2013, I again am chairing the Sanibel & Captiva Islands Association of Realtors® Professional Development Committee. Several educational events already are scheduled and others planned.

My other committee work this year will be with the Professional Standards Committee. That group is the Realtors® governing body that hears ethics and arbitration cases that have passed Grievance Committee and need resolution. The beauty of working on these small islands, where most business is handled professionally, is that Professional Standards usually hears few if any cases. I sure hope that applies this year too.

Another New Sanibel Restaurant – The Sandbar

Islanders always get excited when we hear a new restaurant is opening. If you have seen the many contractor vehicles parked at the 2761 West Gulf Drive location of the former Stone Crab restaurant, it was purchased in December by the same island residents who own the nearby Shalimar Cottages and Motel. Called “The Sandbar”, the new restaurant opened this week with hours from 11 a.m. to 10 p.m. It features a new open-view kitchen and retail market. The general manager who has previously managed other popular island restaurants advises they will feature creative entrees of fresh fish and choice beef, plus menu staples like King crab, shrimp, Maine lobster, and mile-high mud pie. They have a full liquor license too.

Another Coffee Shop Also Coming

This week, Bennett’s Roast was cleared for a City Permit for a 40-seat coffee shop with outdoor seating at 1020 Periwinkle Way, the former Century 21 office east of the Lazy Flamingo. You may remember, I mentioned it several weeks ago, that their permitting process had a few hurdles. The challenges include the property being located in a bald eagle nest buffer zone, wetlands in the back, and being on Sanibel’s highest traffic area near the 4-way stop. Kudos were handed out from both sides for the way the applicants and city staffers worked together to overcome the hurdles.

Island Water & Piping Work Done at The Dunes

The big project to replace old water pipes in The Dunes subdivision is complete ahead of schedule. All Island Water member water meters were replaced with radio-read meters too. The second phase of this two-phase project was not expected to begin until this year, but instead was fully accomplished before Christmas! Way to go Island Water! Did you know that Island Water was incorporated 47 years ago, in 1965, and franchised by Lee County as a member-owned not-for-profit association? As part of our Realtor® education, many of us have toured the facility, seen how the reverse-osmosis water is made, its usage and conservation. It’s a fascinating process. Island Water’s winter newsletter says they will be putting more info on their website this year, check it out at http://www.islandwater.com.

Where The Jobs Will (And Won’t) Be In 2013

Here is part of an interesting forecast that was posted in December on-line at www.Forbes.com.

“Though Florida is still recovering from the subprime mortgage crisis of 2008 and the state unemployment rate sits at 8.5% (almost a point higher than the national rate of 7.7%), some pockets of the state are experiencing strong job growth. In fact employers in the Cape Coral-Fort Myers area are projecting a net job increase of 23%, the highest in the nation, according to the latest employment outlook survey by the employment services firm, ManpowerGroup. One other Florida metropolitan area, Lakeland-Winter Haven, also landed in the top 15 cities for job growth, according to Manpower….

“In Cape Coral, employment has gotten a boost from the recovering housing market and the fact that the city has a low density rate, at 45%, so there is plenty of room to grow. As home construction has revived, property values have climbed, going up 18%-20% since the trough, says Cape Coral Chamber of Commerce President Mike Quaintance. Housing growth has also fueled growth in restaurants and retail chains…. Cape Coral is getting a new Wal-Mart and a Sam’s Club store. Jobs at those budget retailers don’t tend to pay well, concedes Quaintance. But the housing recovery is also funding better-paying construction-related jobs and home-based businesses like landscaping.

“In neighboring Fort Myers, Chamber of Commerce Executive Director Colleen DePasquale says job growth may in part be seasonal, because the population always swells in the winter months, and two baseball teams, the Twins and the Red Sox, go to Fort Myers for spring training. At the same time, clothing chain Chico’s is based in Fort Myers and doing well, and the city just opened a new waterfront development, with plans for a hotel and other businesses.

“Second on Manpower’s list after Cape Coral-Fort Myers: two Arizona metro areas in a tie, Phoenix Mesa-Scottsdale, and Tucson, with a net employment outlook of 20%…. At the other end of the spectrum, St. Louis has the worst employment outlook in the country at -5%. The next-worse is Portland, ME, at ‑2%, followed by Wichita, at -1%….”

Florida Releases Info on State Insurance Companies

Florida Realtors® posted the following article this week:

“The Florida Office of Insurance Regulation (OIR) has released its 2012 Fast Facts report, created to give interested parties statistical data about Florida’s insurance market. The report compiles financial and regulatory information, insurance premium volume, number of domestic insurance companies and related entities, enforcement actions/consumer recoveries, public hearings and more. The Fast Facts report also includes four “Top 20” lists with information about insurance companies in Florida for personal residential, personal automobile, life and annuity, and accident and health lines of business. For residential homeowner policies, Florida-owned Citizens Property Insurance tops the state list with 1.4 million policies, or more than the number covered by the four largest private insurers combined.

“The latest report includes the following breakdown for residential insurance writers by size, followed by number of Florida policies in December 2012:

1. Citizens Property – 1,423,160
2. Universal Property & Casualty – 578,825
3. State Farm Florida – 453,997
4. St. Johns Insurance – 174,021
5. Security First – 147,080
6. USAA – 142,733
7. Castle Key Indemnity (Allstate) – 131,759
8. Castle Key Insurance (Allstate) – 127,540
9. Homeowners Choice – 122,737
10. ASI Assurance – 113,603
11. Florida Peninsula – 112,372
12. American Integrity – 106,052
13. Tower Hill Prime – 104,594
14. American Bankers – 96,381
15. United Property & Casualty – 95,036
16. Florida Family – 87,059
17. ASI Preferred – 78,977
18. Tower Hill Signature – 78,816
19. Universal Insurance – 76,559
20. Southern Fidelity – 74,556

The Fast Facts report can be downloaded through the Florida Office of Insurance Regulation website.”

Vote Sanibel as “Happiest Seaside Town”

Coastal Living Magazine listed Sanibel Island as one of ten of its “Happiest Seaside Towns” of 2013. The locations chosen were based on criteria like well-being index, percentage of sunny days, healthiness of beaches and “coastal vibe”.

Starting yesterday (Jan 10) and running through February, you can go online and cast your vote to make it number one at www.coastalliving.com/happytowns2013.
Sanibel & Captiva Multiple Listing Service Activity January 4 – 11

Sanibel
CONDOS
2 new listings: Sundial #G106 1/1 $292.9K, Seawind #A102 2/2.5 $439.9K.
5 price changes: Tennisplace #D31 1/1 now $179K, Tennisplace #B32 2/1 now $249K, Blind Pass #D205 2/2 now $291K (short sale), Ibis at The Sanctuary #A202 2/2 now $384.9K, Island Beach Club #220B 2/2 now $499K.
3 new sales: Tennisplace #C35 2/1.5 listed for $249K, Blind Pass #B103 3/2 listed for $469K, Oceans Reach #1B4 1/1 listed for $698K.
1 closed sale: Coquina Beach #1D 2/2 $362K.

HOMES
7 new listings: 1809 Farm Trl 3/2 $499K, 525 N Yachtsman Dr 3/2 $579K, 5431 Shearwater Dr 3/3 $825K, 1213 Par View Dr 3/2.5 $890K, 4709 Rue Belle Mer 3/2 $2.1M, 4461 Waters Edge Ln 5/5.5 $5M.
7 price changes: 2079 Wild Lime Dr 3/2 now $460K, 5650 San-Cap Rd 2/2 now $635K, 928 Pepper Tree Place 2/2 now $639.9K, 977 Black Skimmer Way 3/2 now $649K, 569 Lighthouse Way 3/3 now $795K, 9007 Mockingbird Dr 3/3 now $1.1M, 1826 Woodring Rd 3/2 now $1.595M (foreclosure).
4 new sales: 2985 Island Inn Rd 3/2 listed for $399K (our listing), 2560 Coconut Dr 3/3 listed for $495K, 967 Beach Rd 2/2 half-duplex listed for $498K, 1032 Lindgren Blvd 3/2.5 listed for $615K.
3 closed sales: 3050 West Gulf Dr 3/2 $542K, 963 Kings Crown Dr 3/3 $700K, 4689 Rue Belle Mer 3/2 $1.975M.

LOTS
No new listings.
2 price changes: 3005 Turtle Gait Ln now $249K, 1898 Woodring Rd now $2.695M.
No new or closed sales.

Captiva
CONDOS
No new listings.
1 price change: Bayside Villas #4106 1/2 now $295K.
1 new sale: Bayside Villas #5326 3/3 listed for $639.5K.
No closed sales.

HOMES
No new listings.
3 price changes: 16838 Captiva Dr 6/7.5 now $5.995M, 15747 Captiva Dr 5/6.5 now $6.95M, 15172/174 Wiles Dr 12/1 multi-family now $11.5M.
No new sales.
1 closed sale: 15783 Captiva Dr 5/5.5 $8.5M.

LOTS
No new listings, price changes, or new sales.
1 closed sale: 11516 Wightman Ln $650K.

Hooray for the weather in Sanibel & Captiva Islands on January 11, 2013!

It’s glorious!

Photo by Jim Anderson, JMA Photography

The Last Day of Summer & Real Estate News from Sanibel & Captiva Islands

Posted on September 21, 2012 by SanibelSusan

It was pretty quiet again this week on Sanibel and Captiva Islands, but a few more new listings came on the market. Lisa and Dave from the SanibelSusan Team were out showing property this morning. The good news is that island inventory is being depleted faster than it is being restored.

With the first day of fall being tomorrow, we are looking forward to more activity on the islands soon. Local weather reports, however, are that Southwest Florida probably won’t experience cooler weather for about another three weeks, when evening temperatures should drop into the low 60’s.

Below is a picture I snapped yesterday of a group of ibis snacking in the grassy area next to our parking lot.

Next Thursday morning is our Sanibel & Captiva Islands Association of Realtors® monthly membership meeting with speaker, Roy Gibson, from the City of Sanibel Planning Department. After that meeting, the SanibelSusan Team will be holding our new listing on Roseate Lane open for previewing Realtors®.

Below are some real estate-related news items, followed by the activity reported in the Sanibel & Captiva Islands Multiple Listing Service since last Friday.

Florida’s Housing Market Continues Positive Trend in August

“Florida’s housing market had more closed sales, more pending sales, higher median prices and a reduced inventory of homes for sale in August, according to the latest housing data released by Florida Realtors®.

““Florida’s housing marketing continues its momentum,” said 2012 Florida Realtors President Summer Greene, regional manager of Better Homes and Gardens Real Estate Florida 1st in Fort Lauderdale. “Buyers who have been waiting on the sidelines should see this as a sign to jump in before the market escapes them again. Sellers who have been hesitant to sell should put their homes on the market now. Chances are they will entertain multiple offers and be able to take advantage of historically low interest rates to buy their next home. Now our biggest challenge will be appraisals keeping up with the pace of this market.”

“Statewide closed sales of existing single-family homes totaled 18,669 in August, up 10.8% compared to the year-ago figure, according to data from Florida Realtors Industry Data and Analysis department and vendor partner 10K Research and Marketing. Closed sales typically occur 30 to 90 days after sales contracts are written.

“Meanwhile, pending sales – contracts that are signed by not yet completed or closed – of existing single-family homes last month rose 40.2% over the previous August. The statewide median sales price for single-family existing homes in August was $147,000, up 5.8% from a year ago….

“Looking at Florida’s year-to-year comparison for sales of townhomes/condos, a total of 8,767 units sold statewide last month, up 5.7% from those sold in August 2011. The statewide median for townhome-condo properties was $102,980, up 13.2% over the previous year. NAR reported the national median existing condo price in July 2012 was $180,700.

“Last month, the inventory for single-family homes in August stood at a 5.3-months’ supply; inventory for townhome-condo properties was also at a 5.3-months’ supply, according to Florida Realtors. Industry analysts note that a 5.5-months’ supply represents a market balanced between buyers and sellers.

““Florida’s housing market is still reviving,” said Florida Realtors Chief Economist Dr. John Tuccillo. “Everything that should be going up is going up, and everything that should be going down is going down. After the six years of turmoil that we had, it’s good to see the trends strongly moving in the right direction. We’re hurting for inventory, but it’s possible that the improving conditions will lure more sellers into the market and mitigate the housing inventory crunch.”

“The interest rate for a 30-year fixed-rate mortgage averaged 3.60% in August 2012, lower than the 4.27% averaged during the same month a year earlier, according to Freddie Mac….”

How Market Improvement Relates to Sanibel & Captiva Islands

Although Sanibel and Captiva comprise a small portion of the state inventory mentioned in the article above, here is how they stack up.

Sanibel & Captiva

Condos Homes

# Average Price # Average Price

For Sale 211 643,089 219 1,693,444

Under Contract 13 510,931 28 974,698

Sold 2012 to-date 156 623,046 160 913,987

Sold 2011 135 629,361 149 987,302

Sold 2010 114 582,555 107 821,903

As the above statistics show, prices have not rebounded yet, but the number of sales has increased significantly, pushing inventory down. At the current rate of sales, there are less than 11 months of condo inventory and less than 10 months of home inventory. Good news for sellers as we head into last quarter and first quarter, which typically are our best selling months on the islands.

City of Sanibel Cuts Property Taxes

As follow-up to the news posted last week about Sanibel’s property taxes, the “Island Sun” reported the following this week: “With a nip here and a tuck there, the Sanibel City Council on Tuesday produced a svelte final budget that calls for a reduced millage rate –
albeit a small one – and further savings for island taxpayers. As called for at the previous budget session, City Manager Judie Zimomra presented items that could be trimmed totaling $224,500. Council opted for most of them, reaping a savings of $199,500.

“The goal had been to trim $162,000 to reduce the 2.1389 working millage to 2.1. The cuts included refining two road projects to save $67,500 and postponing improvements to MacKenzie Hall ($32,000) and installing a system to video stream council meetings ($35,000). Council also chose to delay $400,000 in improvements the Center4Life, instead using $90,000 already budgeted for architect fees to do necessary repairs and maintenance, including fixing a leak that’s coming up through the floor. In all, the cost-cutting amounts to approximately $508,000.

“However, the city has to subtract nearly $91,000 for costs incurred from Tropical Storm Isaac, which will not receive state or federal reimbursement. That leaves net $350,000 to add to the ending fund balance. The owner of a home valued at $527,000 – the island average – will pay taxes of $1,106, down from the $1,127 the working millage would have cost. That doesn’t include taxes for voted debt such as the Sanibel Recreation Center and land acquisition. The focus for some time has been on reducing expenses and paying down debt, as the city sees lower income due to property values that fell almost 2% this year. Operating expenditures are projected to be $26.552 million, down 21% from last year, when expenses totaled $33,445,376. The budget includes a “sinking fund” for the five-year-old recreation center to retire the bonds, use for future operating costs and maintenance using a funds balance of about $1 million. The plan is to make $216,219 in annual contributions beginning in 2014. Council voted to allocate $440,000 to the sinking fund, representing two years’ contributions, keep some as a balance and pay down rec center debt. The center’s operating costs are projected at $2.088 million next year.”

Four Big Design Turn-Offs of Home Buyers

A recent article by Melissa Tracey in “Home Trends, Room Makeovers” at “AOL Real Estate” is right on-point with some of the complaints we have heard from buyers.

“Certain dated design features in a home can really make some home buyers cringe. Could your listing have one of them? A recent article at AOL Real Estate spotlights a few pet peeves of home buyers when touring homes today. Among the items making their list:

“1. Popcorn ceilings: The speckled ceilings can attract dirt and be impossible to paint. Plus, if the home was built prior to 1980, the ceiling may contain asbestos and need to be tested by an inspector. Fix it: Unfortunately, there’s no quick fix for removing popcorn ceilings; it can get messy. It’ll have to be scraped off and the ceiling then will need to be repaired. Plus, you’ll want to have it tested for asbestos before scraping. Home owners will likely want to consider hiring a professional to do this.

“2. Carpeting everywhere: Many home buyers today have a fondness for hardwoods over wall-to-wall carpeting. Carpeting can show spots and dirt, which can serve as a quick turn-off to potential buyers who prefer the more polished look of hardwoods. Fix it: Have the carpet professionally cleaned if your seller can’t afford to swap out the carpet for hardwoods. Make sure the carpet is spot-free and looking new. If sellers are willing to spend some money, they might consider installing hardwoods on just the first floor or in just the dining room (pre-finished laminate can cost less). This allows the home to be marketed as having hardwoods, which could possibly draw in more potential buyers who won’t consider a home without.

“3. Brass fixtures: Shiny brass fixtures are viewed as out-of-date by most people’s standards nowadays. More on trend is satin-nickel or oil-rubbed bronze finishes. Fix it: Big-box retailers offer plenty of affordable lighting options nowadays to make this an easier, more budget friendly do-it-yourself project with big impact.

“4. Vanity lighting strips: The Hollywood-style strip with a line of bulbs of rounded lights hanging over your bathroom mirrors can also quickly date a home. Fix it: Find a lighting fixture that has shades for each bulb in a finish that matches your faucet. It’ll make the bathroom look more contemporary.”

Florida AAA-Rated

The following came from an e-newsletter received this week from Jeff Atwater, Chief Financial Officer, State of Florida:

“Last week, the Office of Economic and Demographic Research (EDR) released its revenue projections for the next fiscal year. Florida’s economists predict a $71.3 million surplus next year even without the $1 billion we currently have in reserves. We are fortunate to have a budget surplus because of Florida’s fiscal discipline over the last few years. These projections are the best our state has seen since the recession hit Florida in 2006, creating the first budget surplus in five years.

“We have made the necessary choices to provide for a prosperous future, just as every Florida family must do during challenging economic times. Gov. Rick Scott and state legislators have kept spending under control and maintained low taxes, thereby preserving Florida’s AAA credit rating – one of only nine AAA-rated states in the country – and saving taxpayers millions of dollars. Last year, Florida was also able to reduce its debt by $500 million. If we remain committed to a fiscally responsible path, we can keep more money in the pockets of Floridians and help improve our opportunities for economic success.”

Sanibel & Captiva Multiple Listing Service Activity September 14-21

Sanibel
CONDOS
5 new listings: Sundial #G407 1/1 $389K, Sanibel Moorings #341 2/2 $435K, Sanibel Arms West #L8 2/2 $479K, Blind Pass #E206 2/2.5 $498.5K, Sunset South #3B 2/2 $675K.
3 price change: Lake Palms #2 2/2.5 now $259K, Seashells #15 2/2 now $379K (short sale), Sanctuary Golf Villages I #6-3 3/3 now $740K.
No new sales.
2 closed sales: Sundial #C206 1/1 $244.9K, Heron at The Sanctuary #3B 2/2.5 $575K.

HOMES
4 new listings: 6457 Pine Ave 3/2 $429K, 1978 Roseate Ln 3/2 $449K (our listing), 471 Las Tiendas 4/2 $549K, 9203 Dimmick Dr 4/2 $749K.
4 price changes: 2621 San-Cap Rd 3/2 now $250K, 688 Cardium St 5/4 now $399.9K, 1610 Sabal Sands Rd 3/2 now $479.9K, 1263 Par View Dr 5/2.5 now $629K.
4 new sales: 799 Casa Ybel Rd 4/3 duplex listed for $399K, 9440 Begonia Ct 3/2 listed for $499.9K, 1121 Skiff Pl 3/2 listed for $589K, 1188 Harbour Cottage Ct 3/3 listed for $629K.
2 closed sales: 613 Sea Oats Dr 2/2 $342.5K, 2130 Sunset Cir 3/2 $451K.

LOTS
1 new listing: 3005 Turtle Gait Ln $289K.
No price changes or new sales.
2 closed sales: 545 Rabbit Rd $176K (our listing), 2251 Starfish Ln $261.9K.

Captiva
CONDOS
1 new listing: Tennis Villas #3131 2/2 #420K.
No price changes.
1 new sale: Beach Villas #2433 2/2 listed for $698.5K.
No closed sales.

HOMES
Nothing to report.

LOTS
Nothing to report.

Sanibel & Captiva Islands Real Estate – With All Eyes on Tropical Storm Isaac

Posted on August 24, 2012 by SanibelSusan

The SanibelSusan Team has been watching the weather channel entirely too much today; but better safe than sorry. As a precaution, Dave brought in all of our “For Sale” signs this morning. We don’t want them to become airborne.

We all got our 2012 hurricane re-entry passes in June, but it seems some did not plan ahead. The City/Police Dept stayed open until 8 p.m. last night to accommodate those folks getting them at the last minute.

With all eyes on how Isaac moves after it crosses Cuba, our plan is to be open unless it looks unsafe. Being on the easterly side of a hurricane path is not the best from a wind and storm surge standpoint, so we naturally hope it either veers way out into the gulf or dissipates.

Dave and I did some business on Sanibel’s west end earlier in the week. He snapped these pictures near the dredging area of Blind Pass. The beach sure looked terrific. Let’s hope that Isaac doesn’t bring back the sand that just got moved offshore.

Real Estate Action This Week

We had no real estate caravan meeting yesterday, but there was a little island sales action as posted below. Last week, we had multiple offers on our Rabbit Road lot listing that went under contract. That definitely was a surprise, but fun! It has been a long time since that has happened.

Elise took a class at the Association of Realtors® office yesterday, called “iPads, iPhones, & Tablets”. Now she’s sharing her new knowledge with the rest of us. Our Association also has a new website that went on-line this week, www.SanibelRealtors.com.

Buyers Want a Bargain? Here’s Their Chance!

For home buyers who are looking for a chance to buy low, they may not want to drag their feet too much longer according to an article posted Tuesday in the “Daily Real Estate News”:

““Home prices have probably bottomed in most markets,” David Crowe, chief economist at the National Association of Home Builders, said in an NBC News-hosted Web chat with online visitors last week. “Mortgage rates are not likely to go down much further and will eventually rise as the economy recovers. Home builders are hungry and while you will still have to pay a fair price, you may not get a better bargain than now before all the rest of the demand comes back.” However, the best bargains will largely depend on where you’re at, Crowe says. “House prices are rising in some markets, notably Texas… In a few markets that were severely damaged by the recent Great Recession, prices may continue downward for another six to ten months,” Crowe says. Crowe says one hurdle that may slow the recovery is the inability for some home buyers to still not be able to qualify for financing due to banks’ tightened underwriting conditions in the last few years….”

Comparing this article to the Sanibel and Captiva market, I think it is safe to say that the tide is changing here too. Here are the latest inventory statistics with the number of sales “up” in all categories.

# # Sold # Sold # Sold # Sold

For Sale Year-to-Date in 2011 in 2010 in 2009

Sanibel condos 161 132 142 120 87

Sanibel homes 186 150 179 124 144

Sanibel lots 83 30 19 21 11

Sanibel Subtotal 430 312 340 265 242

Captiva condos 47 31 24 25 22

Captiva homes 41 25 22 10 16

Captiva lots 4 4 1 2 3

Captiva Subtotal 92 60 47 37 41

Total Both Islands 522 372 387 302 283

“Rescue Me” Partnership

This week tree trimmers were working along Periwinkle Way, removing some of the vegetation growing over the power lines. That was timely, wonder if they knew in advance that Isaac was thinking about Florida.

This trimming made it particularly timely, when I saw this internet posting: “CROW (Clinic for the Rehabilitation of Wildlife) is working with the City of Sanibel, Lee County Electric Coop (LCEC) and Asplundh Tree service in an effort to protect our nesting birds. This huge undertaking requires a team of volunteers who can help identify which trees have nests and mark those trees in advance to alert the tree service crews. If an active nest is displaced or babies have fallen, the Asplundh Tree Service crew will place the nests and/or babies in “Rescue Me” boxes created by our local Boy& Girl Scouts, mark the location where the babies were found and then deliver them to CROW for short-term rehabilitative care and release back at the original nest site.”

Below are a few Sanibel bird photos. The baby red-shouldered hawk picture came from CROW while the others are from a Facebook acquaintenance who visited the island for many years and is willing to share his pictures. Thank you, Joe Santucci.

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27th Annual Coastal Cleanup September 15

SCCF (Sanibel-Captiva Conservation Foundation) is inviting everyone to participate in an international volunteer effort to rid our coastlines and waterways of marine litter, pollution, and debris. As many as 400,000 volunteers worldwide will be removing 6.8 million pounds plus of coastal trash that can hurt local economies, injure and kill marine wildlife, and choke the ocean environment. SCCF’s partner in the Ocean Conservancy’s 27th Annual Coastal Cleanup is Keep Lee County Beautiful. Participation is easy. Bring your friends and family to SCCF at 3333 San-Cap Road between 9-12 a.m. on Saturday, September 15 to check in and pick up your Coastal Cleanup Data cards and trash bags. Return your data sheets, deposit your trash in the SCCF dumpster, and have lunch or snacks on the Nature Center porch between 10 and 12 a.m. Call SSCF at 239-472-2329 with questions, to pick your “cleanup” spot early, or get data cards ahead of time.

Top 8 College Towns for Investors

I had two clients tell me this week that they are looking at buying investment real estate in their college towns. Again another timely article was posted Wednesday on “Daily Real Estate News”. It says:

“Investors increasingly are eyeing college towns to snag properties at discounts and turn them into rental properties that could potentially offer steady cash flow with student tenants. But which college towns offer some of the best returns? Realtor.com recently released its second annual list of the best college towns for investors, factoring in average monthly rental prices and comparing it to estimated mortgage payments of a median priced home. The following are the top eight college towns for investors, according to this year’s report.

1. Boston, median list price: $334,900, average rent: $3,084, mortgage payment estimate: $1,240

2. Princeton NJ, median list price: $265,000, average rent: $2,056, mortgage payment estimate: $980

3. Chicago, median list price: $194,000, average rent: $1,630, mortgage payment estimate: $720

4. Washington DC, median list price: $395,000, average rent: $2,637, mortgage payment estimate: $1,460

5. Houston, median list price: $183,000, average rent: $1,134, mortgage payment estimate: $680

6. Philadelphia, median list price: $234,900, average rent: $1,475, mortgage payment estimate: $870

7. Atlanta, median list price: $174,900, average rent: $1,187, mortgage payment estimate: $650

8. Pittsburgh, median list price: $140,000, average rent: $1,122, mortgage payment estimate: $520″

Price Your House To Sell Quickly

I have shared articles on this subject before, but thought this one particularly well written. It was posted by Dian Hymer with Inman News on Monday. Dian is a real estate broker with more than 30 years’ experience, a nationally-syndicated real estate columnist and author of “House Hunting: The Take-Along Workbook for Home Buyers” and “Starting Out, The Complete Home Buyer’s Guide.”

“If home lacks features of recent comps, it’s time to subtract value – A 1st-quarter survey of homebuyers and sellers done by HomeGain.com, a real estate services website, revealed that 76% of homeowners believe their home is worth more than the list price recommended by their real estate agent. Homebuyers usually have a better grasp of current market value in the area where they’re looking to buy than do sellers who own and live there. Buyers look at a lot of new listings. They make offers, know what sells quickly and for how much, and what doesn’t and why. HomeGain reported that homebuyers still think sellers are overpricing their homes.

“Your home is worth what a buyer will pay for it given current market conditions. This may not be the same as your opinion of what your home will sell for, or what you hope it’s worth. Relying on emotion rather than logic when selecting a list price can lead to disappointing results…. Listings that sell today are priced right for the market. Buyers need to feel comfortable that they are getting a good deal. Buyers won’t overpay if they feel home prices are still declining, and in some areas of the country, they still are. In areas of strong sales, buyers may shy away from multiple-offer situations if they feel the recovery is fragile and that prices may slide further before stabilizing. Even in areas where home sales have been strong in the first half of 2012, local practitioners wonder how long the uptick will last.

“HOUSE HUNTING TIP: When selecting a list price, it helps to understand how real estate agents and appraisers establish an expected selling price or price range for your home. They research the recent listing inventory for homes similar to yours that sold. The most recent sales give the best indication of the direction of the market. They analyze these comparable sales giving more value to your home for attributes that it has that the comparables don’t, like a remodeled kitchen. Value is subtracted from your home for features it lacks when compared to the sold comparables, like an easily accessible, level backyard.

“It’s difficult for sellers to step back and take an attitude of detached interest in their home. But it’s essential to do so if you want to sell successfully in this market…. If the comparable sale information suggests that the value of homes like yours is declining, select a list price that undercuts the competition to drive buyers — and hopefully offers — to your home. You can take a more aggressive stance on pricing if the comparables show that prices are moving up.

“If there is high demand for homes like yours, you may receive more than one offer. But don’t list too high. It’s better to stay in the range shown by the comparables and expose the house to the market before accepting offers. The market will drive the price up if it’s warranted.

“THE CLOSING: Don’t rely on rumors circulating in the neighborhood about how high a home sold. Prices tend to get inflated when passed from one person to another. Select your list price based on hard facts.”

Sanibel & Captiva Multiple Listing Service Activity August 17-24

Sanibel
CONDOS
No new listings.
3 price changes: Blind Pass #E102 2/2 now $395K, Blind Pass #B102 2/2 now $359K, Loggerhead Cay #232 2/2 now $539K.
1 new sale: Compass Point #143 3/2 listed for $1.049M.
1 closed sale: Captains Walk #F7 2/1.5 $205K.

HOMES
1 new listing: 3825 West Gulf Dr 3/2 $2.35M.
2 price changes: 1536 Bunting Ln 3/2 now $433.5K, 5841 Pine Tree Dr 3/2 now $489.9K.
2 new sales: 750 Nerita St 3/2 listed for $499K, 494 Surf Sound Ct 5/2.5 listed for $899,555.
2 closed sales: 2210 Camino Del Mar 3/2 $512.5K, 1043 Sand Castle Rd 3/2 $535K.

LOTS
No new listings.
1 price change: 133 Butterknife Pl now $324.9K.
1 new sale: 545 Rabbit Rd listed for $179K (our listing).
1 closed sale: 4771 Rue Helene $345K.

Captiva
CONDOS
No new listings, price changes, or new sales.
2 closed sales: Captiva Shores #1B 3/2.5 $1M, Captiva Bay Villas #D 3/3.5 $2.5M.

HOMES
1 new listing: 1114 Schefflera 4/3 $1.795M.
No price changes or new sales.
1 closed sale: 11407 Old Lodge Ln $950K.

LOTS
No new listings, price changes, or new sales.
1 closed sale: 11401 Old Lodge Ln $2.5M.

Sanibel Scoop & Captiva Chatter

SanibelSusan's Blog About What's Happening on the Islands

Tag Archives: Sanibel Florida

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