Tag Archives: Sanibel Florida

Sanibel Sunsets

Posted on by
Reply

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

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

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

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

Incentives Attract Buyers, But Do They Close Deals?

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

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

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

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

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

 

New Captiva Building Height Restrictions

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

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

Fishing the Islands 

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

Sanibel & Captiva MLS Activity September 30 – October 7

Sanibel

CONDOS

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

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

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

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

HOMES

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

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

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

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

LOTS

No new listings.

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

No new or closed sales.

Captiva

CONDOS

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

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

No new sales.

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

HOMES

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

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

No new or closed sales.

LOTS

Nothing to report.

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

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

SanibelSusan

Hooray, It’s Almost October

Posted on by
Reply

This slideshow requires JavaScript.

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

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

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

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

Ready to Invest in Homes Again

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

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

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

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

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

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

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

What’s New at “Ding” Darling Refuge

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

Sanibel MLS Activity – September 23-30

Sanibel

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

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

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

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

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

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

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

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

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

HOMES
No new listings.

1 price change: 16585 Captiva 5/4.5 now $2.2M.
No new or closed sales.

LOTS
Nothing to report. 

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

 

Until next week, best weekend wishes & Happy October.

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

Another Great Friday on Sanibel & Captiva Islands

Posted on by
5

This slideshow requires JavaScript.

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

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


Sanibel’s Millage Rate Dropped to 2.1038

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

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

Mortgage Closing Costs Up 8.8% 

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

More Visitors Coming to SW Florida from Scandinavian Countries 

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

Just Off Island

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

Realtors® Fighting for Healthy Housing Market

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

House Fails to Vote on Extending Loan Limits

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

Home Building Slide Continues

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

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

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

This Winter at BIG ARTS

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

Sanibel & Captiva MLS Activity September 16 – 23

Sanibel 

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

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

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

Captiva

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

HOMES
No new listings or price changes.
1 new sale: 16891 Captiva Dr 3/2 listed for $1.295M.
No closed sales.

LOTS
Nothing to report. 

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

Until next Friday, here’s to more wonderful weather and clear sailing for all,

SanibelSusan

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

The Islands Are Lush & Green This Week

Posted on by
Reply

The Wentworth by the Sea, New Castle, NH

SanibelSusan is back from a quick long weekend and high class reunion in Maine. That was sooo much fun. If you get to southern Maine and the New Hampshire beach area, staying at The Wentworth by the Sea is always a treat. The view is pretty darn nice at my sister’s home in Kittery Point, ME too.

Hoyt's Island, Kittery Point, ME

Going out of town once again worked like a charm in getting one of our home listings sold. It certainly helps to have such a terrific team here to keep things moving when I can escape for a couple of days. (Thank you to Dave, Elise, and Lisa).

Southwest Florida received a lot of rain this week. We needed it so we really can’t complain, but it makes showing property interesting – dodging showers and mosquitoes – plus heat and humidity. Lisa and I were out yesterday with home buyers and will be out again tomorrow looking at more homes.

Overlooking San Carlos Bay, Sanibel Island

This afternoon, I showed a couple of condos and will be revisiting their two favorites in the morning. (Rumor has it that we are lucky to have this showing activity. I’ve spoken to quite a few colleagues since I returned on Tues and most offices are seeing little or no sales action. It’s just that time of the year.)

The rental organizations also advise that beginning tomorrow visitor traffic is down through the end of Sept.

With all of the economic news this week, I almost hate to mention more, but here is a quick interest rate summary, followed by our weekly report of the Sanibel & Captiva Islands real estate activity over the past seven days.

Pool at Seashells of Sanibel

Mortgage Rates Fall Again

An Associated Press article today said “Experts polled by Bankrate.com this week remain divided on the short-term fate of mortgage rates. An equal number (36%) expect a decrease or, at least, no change. The remaining 28% foresee an increase.

“Fixed mortgage rates fell to at or near record lows. That’s good news for the few who can afford to buy a home or are able to refinance. But the rates have done little to lift the ailing housing market.

“Freddie Mac said Thursday that the average rate for the 30-year fixed mortgage fell to 4.32% this week from 4.39%. The 30-year loan hit a record low of 4.17% in mid-November. The average rate on a 15-year fixed mortgage, a popular refinancing option, fell to a record low of 3.5%, from last week’s record rate of 3.54%.

“Mortgage rates tend to track the yield on the 10-year Treasury note. A weakening U.S. economy has led many investors to shift money from stocks to bonds, which are seen as safer bets. That has pushed Treasury yields to historic lows.

“In theory, low mortgage rates should provide a boost to the troubled housing market. But so far they haven’t helped much. Sales of previously occupied homes fell in June for a third straight month to a seasonally adjusted 4.77 million. The pace is lagging behind the 4.91 million homes sold last year – the fewest since 1997.

“New-home sales also declined in June and are trailing last year’s sales, which were the worst on records dating back nearly half a century.

“Many people can’t take advantage of the low mortgage rates. Banks are insisting on higher credit scores and larger down payments from applicants. Others have too little equity invested in their homes to qualify for loans.

To calculate average mortgage rates, Freddie Mac collects rates from lenders across the country on Monday through Wednesday of each week. The average rate on a five-year adjustable-rate mortgage fell to 3.13%, its lowest level on records that go back to January 2005. Last week’s reading of 3.18% also was a record low.

“The average rate for one-year adjustable-rate loans plunged to 2.89% from 3.02% last week. That’s a record low dating back to 1984.”

Sanibel & Captiva MLS Activity Aug 5-12

West Gulf Dr beach near Seashells of Sanibel

Sanibel
CONDOS
3 new listings:  Lake Palms #2 2/2.5 $319.9K, Seawind II #5 2/2.5 $599K, Island Beach Club #P1E 2/2 $749.9K.
5 price changes:  Lighthouse Point #332 2/2 now $474K (our listing), Sundial #T403 2/2 now $598K, Kings Crown #313 2/2 now $695K, Kings Crown #215 2/2 now $710K, Sedgemoor #202 3/3.5 now $2.499M.
2 new sales:  Sanibel Arms #D8 2/2 listed for $409.5K, Sand Pointe #133 2/2 listed for $579K (short sale).
1 closed sale:  Spanish Cay #A1 2/2 $315K (our buyer & seller).
 
HOMES
1 new listing:  9470 Balsa Ct 3/2 $799K.
6 price changes:  480 Peachtree Rd 3/3 now $549K; 1538 Royal Poinciana Dr 3/3 now $685K (short sale); 3050 West Gulf Dr 3/2.5 now $769K; 2332 Troon Ct 4/5 now $1.05M (short sale); 1069 Bird Ln 4/3.5 now $2.75M; 1272 Isabel Dr 4/4.5 now $3,999,999.
9 new sales:  965 Main St 4/2 listed for $249K, 998 Greenwood Ct 3/2.5 half-duplex listed for $335K, 1425 Sandpiper Cir 2/2 half-duplex listed for $359K, 3550 Bunny Ln 3/2 listed for $499K, 3017 Turtle Gait Ln 3/2 listed for $599K; 947 Lindgren Blvd 3/2 listed for $749K; 2622 Coconut 3/3 listed for $1.495M, 1751 Jewel Box Dr 4/4 listed for $1,499,999; 536 Lighthouse Way 4/4.5 listed for $2.495M (our listing). 
No closed sales.

LOTS
Nothing to report.
 
Captiva
CONDOS
Nothing to report.
 
HOMES
No new listings.
1 price change:  11512 Andy Rosse Ln 2/2 now $945K.
No new or closed sales.
 
LOTS
Nothing to report.

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

July 4th on Sanibel & Captiva Islands

Posted on by
Reply

This slideshow requires JavaScript.

 

Island Activity for the Holiday Weekend

If you are lucky enough to be on the islands for the holiday weekend, there are plenty of events for the whole family – starting tonight.  (The photos in the slide show above are from previous years.)

Today, July 1

5 p.m. Sanibel Captiva Lion’s Club Fish Fry – Sanibel Community House

Monday, July 4

7 a.m. Pancake Breakfast – Sanibel Community Church

Dave & Elise in Uncle Sam Cut-Out

9:30 a.m. Independence Day Parade – begins at Island Inn Road (across from Bailey’s Shopping Ctr to Tarpon Bay Rd to Periwinkle Way to Casa Ybel Rd) (NOTE: Periwinkle Way closes at 9:15 a.m. Also good watching in front of SanibelSusan Realty where you also can have your picture taken in our patriotic cut-out.)

9:30 a.m. Independence Day Celebration to benefit Boy Scouts & Girl Scouts –  Jerry’s Shopping Center

11 a.m. Independence Day BBQ – Bailey’s Shopping Center

12 p.m. 32nd Annual Independence Day Road Rally – Timbers Restaurant (our entry is SanibelSusan & The Schuldenfreis)

5 p.m. Independence Day Celebration – The Dunes Golf & Tennis Club

DUSK Fireworks Display – launched over the bay from north end of Bailey Rd.

Have a safe and happy holiday! 

Best Beaches in the Nation

Baby turtles love our beaches!

On the news Wed night, NBC announced a new report by the Natural Resources Defense Council showing that Southwest Florida beaches are some of the country’s best. From Sanibel to Naples, city governments say what’s good for the beach is good for business. The report ranks Sanibel beaches among the cleanest in the nation. Sanibel City Manager Judie Zimomra was featured saying “Sanibel invests significant dollars into our brakes. We’ve learned what’s good for our environment is good for our economy. Businesses that do the best and have the best longevity on Sanibel are the ones that embrace the natural environment.” (We know Judie prefers this kind of press, so much better than last year when she had to discuss the BP oil mess.)

Confirmed Florida Black Bear Sighting on Sanibel

Black Bear in Bailey Tract

Yesterday, the City received confirmation from the J.N. “Ding” Darling National Wildlife Refuge of a Florida black bear sighting. On Monday a remote camera at the refuge captured an image of the animal which was later verified. According to the Lead Biologist at the Refuge, “the bear looks to be a sub-adult black bear approximately 1.5-years old weighing 40-60 lbs.” The bear was photographed by a motion-activated infrared camera at the Bailey Tract, a 100-acre freshwater satellite parcel of the Refuge. The posting advises that the animal poses no immediate threat but residents and visitors should take precautionary measures to keep all food and garbage secured and stored inside. It also says that black bears are native to Florida and are protected under state and federal laws. Dwindling populations in Florida have caused this sub-species to be listed as “threatened” under the Endangered Species Act. It is illegal to approach or harass this animal. As further info, it advises that sub-adult black bears are kicked out by their mothers in early summer when they are 1.5-years old. Young males tend to disperse long distances from their natal areas while young females tend to stay close to their mother’s home ranges. Bears are most active at night and are opportunistic feeders, eating almost anything including grass, insects, small mammals, and carrion (dead things).

Summer Showers on Sanibel

Our rain dance worked! It’s been a week of periodic showers as our weather is settling into the rainy season. The good news with that, other than helping reduce our water bills, is that it seems to have disbursed much of the green algae spotted recently in our nearby river areas.

Sanibel & Captiva MLS Activity June 24 – July 1
 

Sanibel
CONDOS
1 new listing:  Tarpon Beach #201 2/2 $659K.
5 price changes:  Colonnades #10 1/1 now $179K, Tennisplace #C35 2/1.5 now $264K, Sundial #C204 1/1 now $289K, Sundial #G104 2/2 now $495K, Pointe Santo #D2 2/2 now $599.9K.
2 new sales: Colonnades #41 1/1 listed for $169K, Dugger’s Tropical Cottages #5 1/1 listed for $219.9K (short sale).
2 closed sales:  Sanibel Arms #H2 1/1 $200K (short sale), Sundial #R404 2/2 $615K.
 
HOMES
5 new listings:  533 Rabbit Rd 3/2 $549K, 1755 Jewel Box Dr 3/2 $699K, 1204 Harbour Cottage Ct 3/3 half-duplex $789K, 2543 Tropical Way 3/2.5 $1.15M, 2622 Coconut Dr 3/3 $1.495M.
12 price changes:  965 Main St 4/2 now $249K, 1454 Sandpiper Cir 2/2 half-duplex now $299K, 1214 Par View Dr now $549K (our listing), 1284 Par View Dr 2/2 now $598K, 6101 Castaways Ln 4/2 now $629K (short sale), 1290 Par View Dr 4/2 now $649K, 1538 Royal Poinciana Dr 3/3 now $715K (short sale), 1182 Kittiwake Cir 3/3 now $719.9K, 1339 Par View Dr 3/2 now $775K, 557 N Yachtsman Dr 3/3 now $819K, 1360 Eagle Run Dr 5/3.5 now $1.059M (short sale), 1314 Isabel Dr 4/3.5 now $2.495M.
7 new sales:  1663 Bunting Ln 3/2 listed for $344K (short sale), 474 Surf Sound Ct 3/2 listed for $460K (short sale), 566 Boulder Dr 3/2 listed for $539K, 1528 Angel Dr 3/2 listed for $599K, 4797 Rue Helene 3/2 listed for $599.9K, 6101 Castaways Ln 4/2 listed for $629K (short sale), 1670 Dixie Beach Blvd 3/2 listed for $999K.
7 closed sales:  1458 Sandpiper Cir 3/2.5 half-duplex $285K; 9417 Sage Ct 2/2 $425K; 728 Anchor Dr 4/3 $699,999; 1740 Middle Gulf Dr 4/3 $730K; 1106 Buttonwood Ln 3/2 $820K; 1255 Par View Dr 4/4 $1.05M; 4741 Tradewinds Dr 3/3 $1.85M.
 
LOTS
No new listings.
3 price changes:  946 Fitzhugh St now $129,555 (short sale); 2285 Wulfert Rd now $139K; 1503 San Carlos Bay Dr now $1.495M.
No new sales.
1 closed sale:  1590 Century Ct $132.5K.
 
Captiva
CONDOS
2 new listings:  Bayside Villas #4106 1/2 $345K, Captiva Bay Villas #2606 3/3.5 $2.295M.
2 price changes:  Lands End Village #1649 2/2 now $1.145M, Lands End Village #1663 2/2 now $1.145M.
No new sales.
2 closed sales:  Bayside Villas #4220 1/2 $215K, Marina Villas #709 2/2 $470K.
 
HOMES
No new listings.
2 price change:  16185 Captiva Dr 4/4 now $1.399M, 16163 Captiva Dr 3/2 now $1.79M.
1 new sale:  16167 Captiva Dr listed for $1.269M.
1 closed sale:  11524 Andy Rosse Ln 4/4.5 $2.1M (foreclosure).
 
LOTS
No new listings.
1 price change:  1114 Schefflera Ct now $549K.
No new or closed sales.

This representation is based in whole or in part on data supplied by the Sanibel & Captiva Islands Association of Realtors or its Multiple Listing Service.  Neither the association nor its MLS guarantees or is in any way responsible for its accuracy.  Data maintained by the association or its MLS may not reflect all real estate activity in the market.  The information provided represents 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.

Summer on Sanibel

Posted on by
Reply

This slideshow requires JavaScript.

It really “is” summer on Sanibel, with temps this week in the mid 90’s most days. We have had just a few island sprinkles the last two evenings; but the late-afternoon early-evening showers just inland, are good indicators that our much needed rainy season has begun. Once those rains hit the island more regularly, we should get their cool-down effect.

Real Estate Action

This week, I received two verbal offers on condo listings. It’s not often that we get verbals, as most agents recognize the importance of putting an offer in writing. However, I am obligated to present all offers. Why were these verbal? Answer: Because they were both so low. One was 28% off the asking price, the other 49%. Those Realtors® recognized that the offers were insulting and they didn’t want to waste their time. It remains astounding to me that even when presented with the facts showing that a property is priced fairly the buying public still thinks they can “steal”. Yes, many well-priced properties are listed, but buyers need to learn to be realistic or they are going to miss the boat.

Florida REALTORS® Local District Conference

On Wednesday, Lisa and I were two of nine Sanibel & Captiva Islands Association of REALTORS® attendees at the District V Florida REALTORS® Conference in Naples. District V includes the six REALTOR Associations of Marco Island Area, Naples Area, Bonita Springs – Estero, Greater Fort Myers and The Beach, Cape Coral, and Sanibel and Captiva Islands. In addition to being a terrific networking opportunity, this annual event which features pitches by the nominees for 2012 state offices also included a motivational speaker, the announcement of the District’s 2011 scholarship winner, an update of the real-estate-related items passed and in the pipe-line in Florida’s legislature, and a presentation by “Paws for Patriots” which is part of the Southeastern Guide Dogs organization. “Paws for Patriots” pairs highly trained guide dogs with visually impaired veterans, trains and places exceptional dogs not suitable for guide work into careers benefitting veterans who suffer from Post Traumatic Stress Disorder, and places therapy dogs into military hospitals. Check them out and consider making a donation at http://www.guidedogs.org/index.php?page=paws-for-patriots

International Buyers Are Picking Florida

A recent Florida REALTORS® article, reports that international buyers are taking advantage of real estate bargains in the United States. Last year, international buyers reportedly spent $41 billion on purchasing homes in the U.S. So which cities do they most have their eye on?

According to Trulia, ten out of the 24 most popular American cities for international buyers are in Florida. Last year, Europeans, Canadians and Brazilians reportedly spent about $13 billion on homes in Florida alone. Here are the most popular Florida cities for international buyers, according to Trulia, in order of demand:
1. Cape Coral
2. Miami
3. Fort Lauderdale
4. Naples
5. Fort Myers
6. Miami Beach
7. Kissimmee
8. Orlando
9. Jacksonville
10. Tampa

Condo Financing (Frannie/Freddie Guidelines)

I received an interesting e-mail this week from The Farr Team at SunTrust Mortgage. It clarifies why some condo complexes do not qualify for government-backed financing. It offered the following questions that should be asked of the condo management company to see if the complex meets the guidelines:

  • “Does the condo budget have a 10% line item built into its budget for reserves?

If it does not…Fannie Mae will not warrant that project, unless the association has a third party independent reserve study done to show the life expectancy of their roads, pools, etc., to document why the 10% reserve is not necessary at this time.

  • “Is there any pending litigation (lawsuits) against the condo association?

If yes, the project is not Fannie Mae eligible.

  • “Are 70% of the units owned by primary and second home owners?

Only 30% of the units are allowed to be rented. If more than 30% are rented, project will not be Fannie Mae eligible.

  • “Does more than one entity own more than 10% of the units in the project?

If yes, project will not be Fannie Mae eligible. 

  • “Are more than 15% of the units delinquent in their monthly dues?

If yes, project will not be Fannie Mae eligible.

  • “Does the association carry adequate insurance?

The lender will need copies of the insurance policies for the association. For Fidelity/Crime insurance…the minimum amount of coverage formula is: Take the number of units in the project x the monthly maintenance fee x 3 months: ___+ the amount in the association reserve account = grand total. The amount of the grand total is the amount of Fidelity insurance the association must carry.

  • “If the project is in a flood zone, the association must carry flood insurance.

If the association does not, and if this is left to the unit owner to purchase, the project will not be Fannie Mae eligible, as the building(s) and amenities would not be covered.

“If one or more of the above items do not meet the guidelines – a lender cannot sell the loan to Fannie Mae or Freddie Mac. The only type of financing then available would be through a portfolio lender, private financing, or a lender who has an outlet other than Fannie/Freddie.”

Federal Pacific Brand Electrical Panels

I also received an e-mail this week from Ron Dehler, Chief Inspector with Horizon Inspections Service, Inc. The info included was news to us and seemed worth sharing:  “I have recently received new information concerning Federal Pacific Electric Panels. In the past our inspection reports would indicate that these panels have had some intermittent issues; but no recalls from the manufacturer, safety commission or Underwriters Lab, and leave the choice of replacement up to the client. While there still have been no recalls some insurance companies will not provide homeowners insurance where these panels/subpanels are installed. The only solution is replacement which can cost $800 or more per panel. I anticipate most if not all of the insurance providers will eventually follow suit. Due to this change our reports will now indicate this additional information and it will be included on the summary pages as well as in the body of the report. I would appreciate if this is passed on to anyone who may be affected so that no one gets blindsided.”

Sanibel & Captiva MLS Activity June 17-24
 

Sanibel
CONDOS
2 new listings: Blind Pass #B211 2/2 $499K, Sanibel Surfside #234 2/2 $699K.
8 price changes: Sanibel Shores #E 2/2 now $299K, Mariner Pointe #1012 2/2 now $299K (our listing), Blind Pass #C110 2/2 now $450K, Sundial #R203 2/2 now $499K, Blind Pass #B209 2/2 now $499K, Sandalfoot #3D1 2/2 now $539.9K, Gulfside Place #106 2/2 now $849.9K, Somerset #D102 3/2.5 now $1.175M.
3 new sales: Shell Island Beach Club #7B 2/2 listed for $599K, Sand Pointe #227 2/2 listed for $649K, Loggerhead Cay #101 2/2 listed for $729K.
2 closed sales: Tennisplace #B21 2/1.5 $250K, Sundial #Q304 2/2 $530K.

HOMES
2 new listings: 9239 Kincaid Ct 2/2 $369K, 1310 Seaspray Ln 5/4.5 $3.9M.
9 price changes: 848 Rabbit Rd 3/2 now $295K, 2991 Singing Wind 3/2 now $399.9K, 474 Surf Sound Ct 3/2 now $460K (short sale), 1121 Skiff Pl 3/2 now $599K, 1224 Buttonwood Ln 3/2 now $668K, 4628 Rue Belle Mer 3/3 now $799K, 1817 Buckthorn Ln 4/3.5 now $1.175M, 4809 Tradewinds Dr 3/3.5 now $1.795M, 3401 West Gulf Dr 4/4.5 now $4.988M.
No new sales.
4 closed sales: 1012 East Gulf Dr 4/2 duplex $290K (short sale), 9292 Kincaid Ct 3/2 $355K, 1210 Par View Dr 3/2 $590K, 1277 Par View Dr 3/2.5 $985K.
 
LOTS
Nothing to report.
 
Captiva
CONDOS
Nothing to report.

HOMES
No new listings.
3 price changes: 11530 Chapin Ln 3/2 now $1.125M, 15361 Captiva Dr 5/4.5 now $2.5M (short sale), 16950 Captiva Dr 2/2 now $11.1M.
1 new sale: 16727 Captiva Dr 5/3 listed for $1.395M.
1 closed sale: 15152 Wiles Dr 2/2 $540K.

 
LOTS
No new listings.
2 price changes: 16989 Captiva Dr now $1.5M, 16970 Captiva Dr now $3.2M, 16980 Captiva Dr now $3.2M.
No new or closed sales. 

This representation is based in whole or in part on data supplied by the Sanibel & Captiva Islands Association of Realtors or its Multiple Listing Service.  Neither the association nor its MLS guarantees or is in any way responsible for its accuracy.  Data maintained by the association or its MLS may not reflect all real estate activity in the market.  The information provided represents 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.

Almost Mother’s Day on Sanibel & Captiva Islands

Posted on by
Reply

Many island restaurants are featuring special menus on Sunday to honor Moms. With our weather expected to be picture perfect right through the weekend, it’s a terrific time to bring them out on their special day.

We had a long and much-needed downpour on the islands last night. It has been dry for many weeks, so perhaps this is an indication that rainy season is beginning. Real estate activity has slowed down, typical for May as the last of the snowbirds depart but before schools are out and summer vacations begin. It is actually a terrific time to be here, though a tad hot early this year. May is when locals always again enjoy zipping up and down Periwinkle Way, and being able to get into restaurants without a wait.

REALTOR® Caravan Meetings

With slowdown, our Thursday morning REALTOR® meetings are moving to summer schedule. After the meeting next week, they will be held bi-weekly rather than weekly, probably through September, or until business picks up again.

The Jarhead Fire

On Wednesday and again this afternoon, we noticed a heavy smoke smell from this fire in the Big Cypress National Preserve, just east of Naples. The fire started by lightning on April 26 and fire management was assumed by the Southwest Area Incident Management Team at the request of the National Park Service on May 1. The fire, now encompassing more that 25,000 acres with 20% containment, is expected to be fully contained by May 18. With so much damage already including several panther cub deaths, we hope rain will move that date up. Here’s a link to more info www.inciweb.org/incident/2212/

 

Kentucky Derby Horse With Sanibel Ties

For those watching the Derby tomorrow be sure to let out a cheer for “Santiva”, a horse with ties to restaurateur Matt Asen (owner of The Timbers and Sanibel Grill, among others). You can be sure that the Grill will be rocking with excitement during this annual race for the roses.  Bet they can expect to see some patrons sporting their fancy hats worn just last week for the royal wedding.

 

New Italian Restaurant to Open in Fall

The former Ellington’s Jazz Bar and Restaurant, also formerly Dolce Vita, will reopen this fall by celebrity chef and culinary teacher Loretta Paganini. Called “Il Cielo” (The Sky), reports are that it will be authentic Italian in an elegant European setting featuring fresh local products and offering lunch, dinner, live music, and cocktails. Paganini owns the professional International Culinary Arts and Sciences Institute, Sapore Restaurant, and the Loretta Paganini Cooking School in Chesterland, Ohio. She has offered an annual series of cooking classes on the island for the past 15 years.

Wondering Which International Buyers Are Purchasing in Florida?

Sales to global buyers are good here, particularly in the summer. Florida REALTORS® recently posted the following stats from a profile study showing the source of 2010 international buyers: Canada 36%, Latin America (including Mexico, the Caribbean, Central America, & South America) 16%, United Kingdom 15%, and Western Europe 14%.

 

Vacation & Investment Homes Hold EVEN in 2010

Beach at home for sale at 536 Lighthouse Way

According to the National Association of REALTORS® (NAR), market share of vacation- and investment-home sales held steady in 2010, although sales volume declined with the overall market. “NAR’s 2011 Investment & Vacation Home Buyers Survey, covering existing- and new-home transactions in 2010, shows vacation-home sales accounted for 10% of transactions last year while the portion of investment sales was 17 percent, both unchanged from 2009…A sizeable number of buyers made deals with all-cash offerings. All-cash purchases have become prevalent in the second-home market in recent years: 59% of investment buyers paid cash in 2010, as did 36% of vacation-home buyers…36% of vacation homes purchased in 2010 were in the South, 27% in the West, 19% in the Northeast and 15% in the Midwest; 3% were located outside of the U.S. NAR’s analysis of U.S. Census Bureau data shows there are 7.9 million vacation homes and 41.6 million investment units in the U.S. compared with 74.8 million owner-occupied homes.”

Population Shift Swells Southern & Western Cities

Banyan tree at Edison & Ford Winter Estates in Fort Myers

According to an article published this month in SW REALTOR®, “Cities in the South and West grew the most over the past decade, reflecting a trend that has seen Americans leave colder climes in the North for warmer and faster-growing economies in other parts of the country, according to Census data.  “Among the 10-fastest growing metropolitan areas over the decade, nine were in the South or Mountain West, while cities throughout the Midwest and Rust Belt continued to lose population. Among metro areas with more than 500,000 people, Las Vegas grew the fastest over the decade… though migration there has flat-lined since 2008.

“BIGGEST GAINERS – Las Vegas, NV 41.8%, Raleigh, NC 41.8%, Fort Myers, FL 40.3%, Provo, UT 39.8%, Austin, TX 37.5%.

“BIGGEST LOSERS – New Orleans, LA 11.3%, Youngstown, OH 6.2%, Detroit, MI 3.5%, Cleveland, MI 3.3%, Pittsburg, PA 3.3%.

“The 2010 Census tally of metro area tells only part of the decade-long story. While fast-growing cities amassed considerable economic and political muscle from 2000 to 2010, many have seen their economies ravaged by the housing bust during the past few years. With the real-estate market still stuck in the doldrums, migration between states has slowed sharply and a number of once fast-expanding cities have seen more people move out than move in.”

REALTORS® Meet Tallahassee Lawmakers

As part of their annual Great American REALTOR® Days, more than 1,000 members of Florida REALTORS® spent time in the state capital on April 12/13, meeting with lawmakers and promoting issues of importance to state homeowners and the real estate industry. Lawmakers are working on many real-estate related issues this year, including more equitable property taxes for businesses and new residents from out-of-state, property insurance and housing aid. I will be attending our annual meetings in Orlando in August where we will be providing more input on these important subjects.

Island MLS Activity April 29 to May 6

Sanibel
CONDOS
4 new listings:  Tennisplace #C21 2/1.5 $258K (short sale), Blind Pass #E201 2/2 $455K, Mariner Pointe #842 2/2 $525K, Sundial #E104 2/2 $685K (foreclosure).
2 price change:  Tennisplace #B21 2/1.5 now $265K, Mariner Pointe #131 3/2 now $565K.
3 new sales:  Mariner Pointe #1073 2/2 listed for $399K, Sanibel Arms West #I4 2/2 listed for $415K, Sundial #R404 2/2 listed for $650K.
3 closed sales:  Mariner Pointe #232 2/2 $475K, Gulf Beach #102 2/2 $585K, Tanglewood #4A 3/2 $1.035M.
  
HOMES
2 new listings:  1702 Sand Pebble Way 3/2.5 $489K, 941 Cormorant Cir 4/2 $699K.
7 price changes:  2425 Los Colony 3/2 now $349K (short sale), 566 Boulder Dr 3/2 now $539K, 4291 Gulf Pines Dr 3/2.5 now $599K, 480 Peachtree Rd 3/3 now $649K, 9003 Mockingbird Ln 5/4 now $675K, 2550 Wulfert Rd 4/3.5 half duplex now $799K, 882 Beach Rd 4/3 now $1.299M, 1069 Bird Ln 4/3.5 now $3.399M. 
2 new sales:  9292 Kincaid Ct 3/2 listed for $378K, 4573 Bowen Bayou Rd 3/2 listed for $598K.
3 closed sales:  994 Whelk Dr 2/2 $517.5K, 549 East Rocks Dr 3/2.5 $695K, 5709 Baltusrol Ct 3/3.5 $1.15M. 
 
LOTS 
1 new listing:  239 Robinwood Cir $339K.
3 price changes:  9277 & 9283 Belding Dr now $169K, 0 Gulf Pines Dr now $325K, 4309 Gulf Pines Dr now $325K.
No new sales.
1 closed sale:  5624 Baltusrol Ct $198.85K. 
 
Captiva  
CONDOS
No new listings.
2 price changes:  Sunset Beach Villas #2223 1/1 now $439.9K, Sunset Captiva #202 2/2 now $789K.
4 new sales:  Bayside Villas #4220 1/2 listed for $235K, Bayside Villas #5110 1/2 listed for $249.9K, Tennis Villas #3230 2/2 listed for $418K, Captiva Beach Villas #B 3/2.5 listed for $1.2M.
 1 closed sale:  Beach Homes #27 3/2 $2.1M.
 
HOMES
No new listings.
3 price changes:  11531 Andy Rosse Ln 4/4 now $1.595M, 11523 Wightman Ln 4/4 now $1.629.9M, 11530 Paige Ct 4/4.5 now $3.995M.
1 new sale:  11537 Andy Rosse Ln 4/4 listed for $1.725M.
2 closed sales:  6 Sunset Captiva Ln 3/2 $1.6M, 945 South Seas Plantation Rd 5/4.5 $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.

Terrific Videos “Sanctuary Islands: The Sanibel Legacy” & “The History of Southwest Florida: Sanibel – The Untold Stories”

Posted on by
Reply

This message was posted today on www.mysanibel.com:

 “Today, the City of Sanibel released the second in a series of four videos provided by WGCU, documenting the history of Sanibel.

“Residents and visitors can now view the history of Sanibel and learn about the City’s water quality initiatives while in the comfort of their own home or anywhere they are connected to the world wide internet.

“Upon release of the second video, City Manager Judie Zimomra stated, “Everyone interested in our community’s unique history is invited to enjoy this classic video made available from our friends at WGCU.”

“Please click here to view video 2 of 4: “The History of Southwest Florida: Sanibel I – The Untold Stories”

“Please click here to view video 1 of 4: “Sanctuary Islands: The Sanibel Legacy.”

“Video 3 (“Untold Stories of Southwest Florida – Sanibel: After the Ferry) and Video 4 (“Untold Stories of Southwest Florida – The Sanibel Causeway: A Vital Link”) will be released to the City’s website in the near future.”

It Was a Banner Week at SanibelSusan Realty

Posted on by
Reply

Whew, it was another busy real estate week on sunny Sanibel & Captiva Islands. A front passed through the area last night bringing picture-perfect weather today which is expected to continue through the weekend. Another big renter/visitor turn-over is expected tomorrow, though not as many as last weekend. We have also heard of several winter residents heading home to finish their taxes (what a terrible reason to leave the islands). 

Here at SanibelSusan, we are smiling. It was a 3-closing morning and a good week for sales. Our terrific buyers and sellers are much appreciated.

Now that three months of stats are behind us, it is interesting to see that average condo and home prices are beginning to tick up. Please don’t give too much credence to these numbers though as big sales can and have skewed the averages. Prices in most complexes and communities continue to drop as evidenced by the weekly report of MLS activity below. Here are Sanibel sales posted in the islands MLS for the period January 1 to April 1, this year compared to last:

            Condos                                 Homes                                      Lots

            # Sold   Avg Sale Price   # Sold   Avg Sale Price  # Sold  Avg Sale Price

2010     30         531,976             36         710,268            6          310,000

2011     37         688,506             50         774,954            5          299,500  

They Still Love Us

I read an interesting article this week in the Florida Realtor® monthly magazine:

“Sure it’s been a tough few years for Florida real estate, but the growing importance of foreign homebuyers has offset some of the damage. Roughly two out of every three Realtors® in the state had at least one international transaction within the past year. The National Association of Realtors® in cooperation with Florida Realtors®, conducted a survey of Florida members, asking them about their experience working with international customers. Here are the highlights:

  • Half the respondents said that international customers accounted for 25% of their business or less; 15% reported that international buyers accounted for more than half of their business.
  • 51% of the international customers purchased a detached single-family home; 37% a condo; 11% a town house, and 1% some other type of home.
  • 38% purchased property in a suburban area, 30% in a resort area, 25% in a central city, and 7% in a small town or rural area.
  • 15% plan to use their property less than one month per year; 21%, one to two months; and 34% three to six months.”

In comparing these stats to my business, so far this year I have had three transactions out of 13 (23%) with foreign buyers/sellers. Last year, out of 24 transactions, four (17%) were non-U.S. Hopefully my certification last fall for transnational referrals will boost these numbers too. Canada, Europe, and Latin America are the three largest global sources of Florida Buyers.

With most of our island sales to move-up buyers, or folks who already own here, our local advertising and frequent mailings continue to be our biggest business source. Next week, we hope to report another internet venue that is working on posting our listings now. Stay tuned.

Sanibel & Captiva MLS Activity March 25 – April 1:

Sanibel

CONDOS

5 new listings: Sundial #G104 2/2 $549K, Pointe Santo #C35 3/2 $879K, Villas of Sanibel #A202 3/3 $995K, Sundial #K103 2/2 $1.1M, Sedgemoor #103 3/3.5 $2.85M.

14 price changes: Mariner Pointe #1062 2/2 now $320K, Sundial #G107 1/1 now $320K, Spanish Cay #C1 2/2 now $374.5K, Loggerhead Cay #333 2/2 now $419K, Sundial R203 2/2 now $535K, Loggerhead Cay #574 2/2 now $549K, Shell Island Beach Club #7B 2/2 now $599K, Pointe Santo #D42 2/2 now $599K, Loggerhead Cay #411 2/2 now $649K, Pointe Santo #D2 2/2 now $665K, Sunset South #4A 2/2 now $719K, Sundial #K205 2/2 now $825K, Pointe Santo #A35 2/2 now $949K, Pointe Santo #C3 3/2 now $949K.

4 new sales: Sundial #P301 2/2 listed for $599K (our listing), Sunset South #4A 2/2 $719K, Janthina #3A 3/2 listed for $1.375M, Sedgemoor #201 3/3.5 listed for $2.495M (our listing).

7 closed sales: Mariner Pointe #733 2/2 $289K (our listing), White Caps South #7 1/1 #335K, Sundial #Q205 3/2 $665K, Janthina #1B 3/2 $900K (our buyer), Sundial #N204 2/2 $950K (our listing), Atrium #205 3/2 $1.15M, Dosinia #D3 3/3 $1.3M.

HOMES

6 new listings: 9248 Belding Dr 3/2 $295K; 976 Greenwood Ct S 3/2.5 half-duplex $349K; 480 Peachtree Rd 3/3 $659K; 231 Daniel Dr 3/2.5 $789,987; 3050 West Gulf Dr 3/2.5 $799K; 4781 Tradewinds Dr 3/2 $1.995M. 

15 price changes: 1425 Sandpiper Cir 2/2 half-duplex now $359K; 978 Greenwood Ct S 3/2.5 half-duplex now $379K; 1027 Sand Castle Rd 2/2 now $399K (short sale); 1291 Par View Dr 3/2 now $525K; 1674 Bunting Ln 3/2 now $553K; 4573 Bowen Bayou Rd 3/2 now $598K; 280 Southwinds Dr 3/3.5 now $599K; 4797 Rue Helene 3/2 now $599.9K; 4714 Rue Belle Mer 3/2 now $649K; 728 Anchor Dr 4/3 now $699,999; 1538 Royal Poinciana Dr 3/3 now $795K (short sale); 1172 Kittiwake Cir 5/3 now $995K; 1558 San Carlos Bay Dr 2/2.5 now $999,999; 2294 Wulfert Rd 4/4 now $1.149M; 785 Birdie View Pt 3/2.5 now $1.2M.

2 new sales: 1148 Shell Basket Ln 4/2 duplex listed for $398K, 1740 Middle Gulf Dr 4/3 listed for $735K.

6 closed sales: 446 Lagoon Dr 2/2 duplex $310K (short sale), 9428 Moonlight Dr 3/2 $460K, 799 Conch Ct 3/2.5 $729K (short sale), 5729 Baltusrol Ct 3/3.5 $1.025M, 4617 Rue Belle Mer 4/3 $1.95M, 3745 West Gulf Dr 4/4.5 $5M (our buyer).

LOTS

No new listings.

1 price change:  1114 Seagrape Ln now $575K.

No new or closed sales.

Captiva

CONDOS

2 new listings:  Tennis Villas #3216 1/1 $280K, Sunset Beach Villas #2224 2/2 listed for $659K.

1 price change:  Beach Villas #2613 1/1 now $485K.

No new or closed sales.

HOMES

No new listings.

4 price changes: 56 Sandpiper Ct 2/2.5 now $765K, 11550 Laika Ln 4/3.5 now $1.495M, 16171 Captiva Dr 4/4.5 now $1.745M, 16237 Captiva Dr 5/5.5 now $3.225M.

3 new sales: 11536 Andy Rosse Ln 3/3 listed for $1.5M, 6 Sunset Captiva Ln 3/2 listed for $1.875M, 16778 Captiva Dr 4/3 listed for $3.995M.

 

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.

Saint Patrick’s Day Is Over But The Islands Stay Green

Posted on by
Reply

This slideshow requires JavaScript.

Islanders are smiling as we just had another week of terrific weather including a bright day yesterday for the Irish Fest. We had a couple of our new listings filmed by plane by our favorite island photographer, Jim Anderson, whose new island coffee table book is getting rave reviews.  Here are a couple of the aerials that show how green we are in March – even before spring has sprung!

Island Happenings

Sanibel-Captiva Art League’s Annual Clothesline Sale is Sunday, March 20, from 9 a.m. to 3 p.m. at The Community House across from our office. It is free and known for its original and often heavily discounted art. Nearly 30 artists are expected to participate.

Norm Zeigler’s Snook & Spring Fest is also Sunday from 1 to 4 p.m. featuring music, raffle prizes, & a traditional Cajun “shrimp boil”. This event is right here in Sanibel Square, should make for a busy day.

BIG ARTS Community Chorus Spring Concert is Thursday night, March 24, at 7 p.m. Usually a sell-out, a few tickets remain. We have a nice variety of songs on the program this year, but the featured performance will be after intermission when we present the best of “Oklahoma”. Should be a hoot to see how quickly 80+ singers can change from their formal black/white attire into western wear.

Sanibel School Seahorse Festival is next Saturday, March 26 from 4 to 9 p.m. It being an evening event is new.  Held on school grounds, funds raised during the festival go toward technology and software for classrooms. Activities will include live band, games, bounce houses, obstacle course, silent auction, food and drinks.

CROW’s 8th Annual Walk on the Wild Side is Friday, April 1, with pre-registration requested. This event includes a 4.1-mile walk through the J.N. “Ding” Darling National Wildlife Refuge with CROW staff and volunteers.

Shift in Housing Policy

United Press International reported yesterday that U.S. Treasury Secretary Timothy Geithner said Wednesday the government should “at a deliberate pace” back away from housing market support. In prepared remarks for the Senate Committee on Banking, Housing & Urban Affairs, Geithner said policies that shaped financial decisions for decades should be reversed. “Our goal is not for every American to become a homeowner,” he said. “We are committed to a system in which the private market – not American taxpayers – bears the burden for losses” in the housing market, he said.

Taxpayers have been supporting two government-sponsored enterprises, the Federal National Mortgage Association and the Federal Home Loan Mortgage Corp., which guarantee mortgage loans and sets the pace on appropriate lending practices. Geithner, however, said regulators dropped the ball. “Taxpayers (were left) responsible for much of the risk incurred by a poorly supervised housing finance market,” he said, adding, “These were avoidable mistakes.” He said, “I want to emphasize that it is very important that we wind down Fannie Mae and Freddie Mac at a careful and deliberate pace.”

Pointedly, although the government took over the two mortgage giants in September 2008, their role in the mortgage market has increased, as lending has become tighter. “In the wake of the financial crisis, private capital has not sufficiently returned to the mortgage market, leaving Fannie Mae, Freddie Mac, FHA (Federal Housing Administration) and Ginnie Mae (Government National Mortgage Association) to insure or guarantee more than nine out of every 10 new mortgages,” Geithner said.

Tax Time for Homeowners

In the same vein, Florida Realtors® also posted the following article yesterday “Owning a home offers myriad benefits throughout the year, but some of the financial advantages of homeownership are most apparent at tax time,” said National Association of Realtors® (NAR) President Ron Phipps. “As many of today’s hard-working American families are feeling a financial squeeze, the tax benefits that can come from owning a home can be a welcome relief.”

A number of tax deductions and credits are still available for homeowners; these include deductions – with specific limits – for mortgage interest and capital gains on home sales, and credits for certain energy-efficient home improvements. Even with these benefits, homeowners pay 80-90 percent of all U.S. federal income taxes.

“It’s been suggested that many of today’s tax incentives for homeownership primarily benefit wealthy individuals, but that’s simply not true,” said Phipps. “As today’s public debate continues about what homeownership means for families, communities and the nation’s economy, there’s no question that for many, owning a home is still the best way to begin building wealth.”

Ninety-one percent of homeowners who claim the mortgage interest deduction earn less than $200,000 a year, and the ability to deduct the interest paid on a mortgage can mean significant savings at tax time. For example, a family who bought a home in 2010 with a $200,000, 30-year, fixed-rate mortgage, assuming an interest rate of 4.5 percent, could save nearly $3,500 in federal taxes when they file this year.

“Realtors see the very real positive impact of homeownership every day with our clients,” said Phipps. “Recent proposals to reduce or eliminate the mortgage interest deduction and remove government support of the housing finance market could have disastrous consequences for the economy, not to mention making it harder or nearly impossible for millions of families to own their own homes. We believe America must continue to invest in homeownership, for the future of our families and our nation.”

For homeowner tax season tips, visit www.HouseLogic.com . NAR’s HouseLogic is a free source of information that helps homeowners maintain and enhance the value of their homes, and engage in issues that affect their local communities.

Number of Island Sales

Last week, we posted a summary chart showing average sale prices on both Sanibel and Captiva over the past few years. Here is the companion graph showing average number of sales each year. So as not to skew the chart, 2011 sales are not included. They have however, continued in the same trend as the graph shows.

Unfortunately, this week not many sales were announced at our monthly Realtor® Membership Meeting. The islands are busy, yet most of the visitors this week are families on spring breaks just having fun. The next few weeks are similarly booked while schools are on vacation, with a huge visitor turn-over expected tomorrow.

Sanibel & Captiva MLS Activity Mar 11 – 18:

 
Sanibel
CONDOS
4 new listings:  White Caps South #5 1/1 $499K, Sundial #Q304 2/2 $549K, Shell Island Beach Club #7C 2/2 $589K, Tarpon Beach #101 2/2 $749K.
9 price changes:  Sundial #G107 1/1 now $340K, Heron at the Sanctuary #2-1B 2/3.5 now $519.9K, Sundial #0201 2/2 now $545K, Tarpon Beach #204 2/2 now $625K, Sanctuary Golf Villages I #6-3 3/3 now $749K, Villas of Sanibel #A301 3/3 now $1.15M, Janthina #2A 3/2 now $1.295M, Janthina #2B 3/2 now $1.35M, Janthina #3A 3/2 now $1.375M. 
6 new sales:  Sanibel Arms #H2 1/1 listed for $225K (short sale), Sanibel Arms #D6 1/1 listed for $225K (short sale), Captains Walk #A1 2/1.5 listed for $229K, Tennisplace #B21 2/1.5 listed for $265K, Tennisplace #B31 2/1 listed for $268K, Island Beach Club #210F 2/2 listed for $439K.
3 closed sales:  White Sands #12 2/2 $580K (our listing), Sundial #E201 2/2 $800K, Sundial #R206 3/2 $875K.
 
HOMES
5 new listings:  1458 Sandpiper Cir 3/2.5 half-duplex $329K, 1740 Middle Gulf Dr 4/3 $735K, 1244 Par View Dr 4/3 $898.9K, 1670 Dixie Beach Blvd 3/2 $999K, 3400 West Gulf Dr 4/3 $1.499M.
18 price changes:  1133 Schooner Pl 5/2 duplex now $414K, 490 Elizabeth Rd 2/2 now $436.5K, 1433 Jamaica Dr 5/4 duplex now $494K, 566 Boulder Dr 3/2 now $549.9K, 994 Whelk Dr 2/2 now $549.95K, 220 Palm Lake Dr 3/3 now $599K, 1057 Sand Castle Rd 3/2 now $675K, 1224 Buttonwood Ln 3/2 now $688K, 486 Surf Sound Ct 3/3.5 now $699K, 998 Whelk Dr 3/2.5 now $849K, 930 Victoria Way 3/3 now $999K, 791 Pen Shell Dr 4/3 now $1.249M, 4501 Waters Edge Ln 4/5/2 now $1.995M (short sale), 829 Tulip Ln 5/4.5 now $2.695M, 4701 Rue Belle Mer 4/4 now $2.975M, 1950 Woodring Rd 4/3.5 now $2.995M, 1310 Seaspray Ln 4/4 now $3.25M, 1272 Isabel Dr 4/4.5 now $4.459M.
2 new sales: 6072 Dinkins Lake Rd 3/2 listed for $544K (short sale), 4453 Waters Edge 3/3 listed for $2,497,013.
7 closed sales:  5151 SanCap Rd 2/2 $280K, 754 Vinca way 4/3 $295K (short sale), 1954 Roseate Ln 3/2 $400K, 3733 Coquina Dr 3/2 $667.5K, 246 Christofer Ct 4/2.5 $775K, 4640 Rue Belle Mer 4/4 $830K, 1995 My Tern Ct 3/2 $995K.
 
LOTS
2 new listings:  1590 Century Ct $165,555; 4380 Bowen Bayou Rd $399,555.
1 price change:  2285 Wulfert Rd now $184K (short sale).
No new sales.
1 closed sale:  5759 SanCap Rd $300K. 
 
Captiva
CONDOS
No new listings.
3 price changes:  Bayside Villas #4212 1/2 now $285.9K, Bayside Villas #4216 1/2 now $295K, Tennis Villas #3139 2/2 now $399K.
1 new sale:  Bayside Villas #4302 3/3 listed for $550K.
No closed sales.
 
HOMES
No new listings.
4 price changes:  11540 Gore Ln 3/3 now $919K, 16167 Captiva Dr 3/3 now $1.269M, 16171 Captiva Dr 4/4.5 now $1.765M, 16730 Captiva Dr 5/4.5 now $5.5M.
No new or closed sales.
 
LOTS
Nothing to report.
 
This representation is based in whole or in part on data supplied by the Sanibel & Captiva Islands Association of Realtors or its Multiple Listing Service.  Neither the association nor its MLS guarantees or is in any way responsible for its accuracy.  Data maintained by the association or its MLS may not reflect all real estate activity in the market.  The information provided represents the general real estate activity in the community and does not imply that SanibelSusan Realty Associates is participating or participated in these transactions.  If your property currently is listed with another broker, this is not intended as a solicitation of that listing.