A Trio of Baby Osprey Accompanies Today’s Island Update

Posted on April 30, 2021 by SanibelSusan

Here it is another Friday with an update saying island weather again is beautiful. Sanibel and Captiva had plenty of sunshine over the last few days, with temperatures usually in the low 80’s, then cooling down a bit in the evenings. A quick shower last night might be indicating the rainy season is beginning. More of the same is expected next week.

A client that purchased his bayside home with us a few years ago also is a blog follower and knows we love island wildlife. His property has a huge osprey nest on the dock. He shared these recent pix so I could share them with you. Thank you, Scott.

Sanibel & Captiva Islands Association of Realtors® April Membership Meeting

Yesterday was the monthly membership meeting of the local Association of Realtors®. Speaker was Michael Nachef, Director of Government Relations for Lee Health. It was a Zoom meeting, apropos since Michael was calling from Tallahassee where Florida’s legislative session is wrapping up this week. His update on the pandemic offered some interesting info. Here are some takeaways:

COVID-19 Update

This Wed, Apr 28, 2021, there were a total of 188 COVID patients in Lee Health hospitals. Compare this to the highest number in July 2020, when there were 360 patients. The low was in Oct 2020, when there were only 44 patients.

Wondering why? During pandemic tracking, the median patient age has shifted downward. Leading into the high, the median patient age was 64/65. Today, the median age is 39, proving that vaccinating the primary (older) group is working and showing that younger residents re-engaging in social activities are not protected and urgently need vaccinations.

He said that it will take 70/80% of the population to be vaccinated for herd immunity. Once vaccinated, an individual has only a 10% chance of getting the virus and if they do get it a 95% chance that they will be asymptomatic or show no evidence of the disease.

Today just 54% of the population has had one dose, so everyone is encouraged to get vaccinated. Locally, more vaccines now are available than those wanting appointments.

Sanibel & Captiva Real Estate News

It was not a surprise that there were few real estate announcements during the Caravan portion of the meeting. No announced new listings, just one price reduction, and just one property open for viewing.

Usually after Easter, business slows on the islands. The activity posted in the Sanibel & Captiva Multiple Listing Service (MLS) follows a couple of news items below. First, the latest summary numbers from MLS. Hard to believe that on Sanibel there are only 83 properties for sale on the entire island – that includes just 27 homes. With 431 Sanibel sales already this year, it has been a buying frenzy!

Sanibel	Condos		Homes		Lots
Sanibel	#	Avg Price	#	Avg Price	#	Avg Price
For sale 4/30	33	859,672	27	2,612,185	23	616,879
Under contract	56	809,171	78	1,477,048	17	1,239,576
Sold/closed 2021 thru 4/30	109	860,780	136	1,304,958	35	529,828
Sold/closed in all of 2020	192	733,876	290	954,718	23	606,233
Sold/closed in all of 2019	127	694,392	211	949,790	15	372,200

At SanibelSusan Realty

This week, the team and I are thankful that another listing is under contract and another closing finalized. Our remaining listings continue to get inquiries and good action. As inventory continues to dwindle, we hear the same news from friends in other vacation destinations.

Gov. DeSantis Again Extends Florida’s COVID-19 State of Emergency

On Tuesday, Florida’s Gov. DeSantis extended the state emergency order for another 60 days. Since March 2020, the Governor has been extending the original emergency order in 60-day increments. This order allows Florida to activate its emergency operations center, work with and ask for federal government assistance, and allowed deployment of the Florida National Guard to help.

It also has allowed additional precautions by state and local agencies to keep workers safe from exposure and has allowed licensed healthcare workers certified in other states to practice in Florida, providing more hands for testing, vaccination, and other care.

This week, Sanibel’s State of Emergency also was extended for another week (or until May 4) by Mayor Holly Smith. The number of cases reported here from March 26, 2020 through April 28 is 250. Captiva’s cases total 12.

U.S. – 2^nd Most-Affordable Housing Market in the World

Who knew? This interesting tidbit in the May 2021 “FloridaRealtor®” magazine: “The United States is the second-most-affordable housing market in the world, according to comparethemarket.com. Researchers looked at average property price per square foot and average disposable income to calculate the cost per square foot as a percentage of annual income. No. 1? Turkey, followed by the United States, Russia, South Africa, and Mexico.”

Sanibel’s 2021 Prescribed Burn Areas

2021 City Map of Prescribed Burn Areas

J.N. “Ding” Darling National Wildlife Refuge posted the below info on-line this week: “During the 2021 spring/summer season, the Sanibel Prescribed Fire Task Force is planning prescribed burns on the following conservation sites:

SCCF/City of Sanibel – Erick A. Lindblad Preserve

USFWS, JN “Ding” Darling NWR – Legion Curve, Botanical Site, & Bailey Tract

“We would like to invite the public to a virtual information meeting on Wed, May 5, 2021 starting at 5:30 p.m. to discuss the burn plans and address any questions or concerns. Access to this meeting is through this Zoom link:

https://sccf-org.zoom.us/j/89160685854….

“When forecasted conditions are favorable, the Sanibel Prescribed Fire Task Force will issue further notification that a prescribed burn is imminent and identify the specific location of the burn. All prescribed fires must be authorized by the Florida Forest Service on the morning of the scheduled burn. A change in the forecast conditions may result in cancellation of the planned burn. A prescribed fire will NOT be conducted if the prescription conditions cannot be met prior to ignition.

SCCF photo

“A burn plan, or “prescription,” has been established for the priority areas within these conservation lands. The prescription details the required conditions that must exist in order for a prescribed burn to take place. These include environmental conditions such as soil moisture, fuel conditions, and recent rainfall, as well as forecasted and actual weather conditions including temperature, relative humidity, wind speed and wind direction. Following a predefined prescription allows fire management officers to establish the desired fire behavior (intensity, flame length, direction of fire spread and smoke). The prescription also identifies the number of qualified fire personnel needed to conduct the burn as well as the types and number of equipment required to safely complete the burn.

“Why are prescribed fires needed? Fire is a natural part of Florida’s ecosystem, historically set by lightning. Because of this history of periodic fires, many of Florida’s natural communities are adapted to burning. Fire removes old vegetation, promotes new growth of native vegetation, and suppresses the growth of non-native invasive plants. In the absence of fire, many plant communities are displaced by dense, woody vegetation which can reduce plant diversity and eliminate foraging opportunities for the island’s wildlife. Species such as the gopher tortoise, eastern indigo snake, and Sanibel rice rat all depend on a fire-maintained ecosystem. In addition to the natural benefits of fire, carefully planning and conducting prescribed burns can reduce the likelihood of catastrophic wildfires by reducing the amount of vegetation – or “fuel”—that would be available in the event of a wildfire.”

Sanibel & Captiva Islands Multiple Listing Service Activity April 23-30, 2021

Sanibel

CONDOS

4 new listings: Sanibel Arms West #C6 2/2 $955K, Gulfside Place #124 2/2 $1.385M, Cyprina Beach #3 3/3 $1.6M, Pointe Santo #A47 3/2 $1.995M.

1 price change: Pointe Santo #A1 2/2 now $889K.

10 new sales: Sanibel Arms #H6 1/1 listed at $360K; Mariner Pointe #731 2/2 listed at $525K; Kimball Lodge #244 1/1.5 listed at $550K; Sanibel Arms #A1 2/2 listed at $555K, Sundial #C303 2/2 listed at $695K; Oceans Reach #2D1 2/2 listed at $890K; Sanibel Arms West #C4 2/2 listed at $910,990; White Sands #23 2/2 listed at $1.099M (our listing); Island Beach Club #230D 2/2 listed at $1.335M, Compass Point #151 3/3 listed at $1.495M.

10 closed sales: Mariner Pointe #541 2/2 $515K (our listing), Sanibel Arms West #A1 2/2 $525K, Sanibel Arms West #I4 2/2 $559K, Sanibel Arms West #J3 2/2 $560K, Sanibel Moorings #842 2/2 $610K, Sunset South #10C 2/2 $700K, Sandpiper Beach #105 2/2 $797.5K, Pelicans Roost #203 2/2 $875K, Pointe Santo #E22 2/2 $875K, Royale Tern #204 3/3.5 $1.2475M.

HOMES

3 new listings: 1643 Bunting Ln 2/2 $599K, 999 East Gulf Dr #103 4/3 $1.995M, 1237 Isabel Dr 6/6.5 $3.195M.

3 price changes: 5100 Sea Bell Rd 4/2.5 now $949K, 820 Angel Wing Dr 3/2 now $1.45M, 1306 Seaspray Ln 4/4 now $4.245M.

12 new sales: 1643 Bunting Ln 2/2 listed at $599K, 1644 Bunting Ln 3/3 listed at $658K, 868 Rabbit Rd 3/2 listed at $725K, 4505 Bowen Bayou Rd 3/3 listed at $729K, 9456 Beverly Ln 3/2 listed at $789K, 2480 Library Way 3/2.5 listed at $829K, 4377 Gulf Pines Dr 3/3 listed at 875K, 915 Fitzhugh St 4/2.5 listed at $945K, 5773 Sanibel-Captiva Rd 2/2 listed at $1.225M, 812 Birdie View Pt 3/3.5 listed at $1.549M, 1761 Venus Dr 4/3.5 listed at $1.899M, 768 Limpet Dr 3/3 listed at $2.3M.

3 closed sales: 1940 Periwinkle Way 3/2 half-duplex $565K, 4202 Old Banyan Way 3/2 $848K, 2843 Wulfert Rd 4/5 $1.295M.

LOTS

No new listings.

1 price change: 0 Rue Bayou now $649,555.

4 new sales: 255 Hurricane Ln listed at $368K, 5687 Baltusrol Ct listed at $399K, 1318 Par View Dr listed at $399K, 00 West Gulf Dr listed at $3.895M.

No closed sales.

Captiva

CONDOS

No new listings or price changes.

1 new sale: Beach Cottages #1423 2/2 listed at $1.195M.

4 closed sales: Tennis Villas #3212 1/1 $305K, Gulf Beach Villas #2024 3/3 $1.035M, Captiva Shores #7B 3/2.5 $1.324M, Lands End Village #1662 3/3 $1.99M.

HOMES

No new listings or price changes.

2 new sales: 42 Oster Ct 2/2.5 listed at $1.095M, 41 Oster Ct 2/2.5 listed at $1.125M.

4 closed sales: 18 Urchin Ct 2/2 $1.0625M, 15146 Wiles Dr 2/2 $2M, 11544 Wightman Ln 4/4.5 $2.1M, 11541 Paige Ct 3/4/2 $3.625M.

LOTS

Nothing to report.

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

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

Until next Friday, Susan Andrews, aka SanibelSusan

The Island Real Estate Market Remains Hot… Sunny too!

Posted on April 23, 2021 by SanibelSusan

It is time to report another sunny Friday on Sanibel. Weather was not like this all week. Some much-needed rain was received Mon through Wed, followed yesterday by the highest recorded temperatures in the nation. The high today is expected to be 83 degrees F, followed by another week of the same sunny weather with maybe a passing thunderstorm Sunday morning. We sure are lucky to be here!

Sanibel’s State of Emergency

On Tuesday, Sanibel’s State of Emergency due to COVID-19 again was extended another week (until April 27). Masks remain required in all businesses and outside where social distancing is not possible. Just one more case reported on Sanibel this week with a total of 249 cases from Mar 26, 2020 through Apr 21, 2021. Still just 11 on Captiva during the same timeframe.

Sanibel & Captiva Farmers Markets

With Florida’s vegetable growing season winding down, visitors and locals who enjoy the local farmers markets have one more month to visit them on the islands. Sanibel Farmers Market at City Hall is OPEN Sundays, 8-1 through May 30. Captiva Island Farmers Market at South Seas Island Resort is OPEN Tuesdays, 9-1 through May 25.

The other Local Roots markets at the Sanibel Outlets and on Boca Grande have already finished their season, while the Wednesday markets at Lakes Park and Thursday markets at Coconut Point will finish up next week (Apr 28 and 29).

The Saturday morning Bonita Springs markets continue through May, while the River District markets in downtown Fort Myers are Thursday mornings year-‘round (except Thanksgiving).

Who knew when Betsy and Jean organized their first market nearly 15 years ago in the parking lot at Tahitian Gardens, that their business would expand into some of the largest fresh markets in Lee County. Congratulations, ladies! More details on http://buylocallee.com.

At SanibelSusan Realty

Here in the office, teammates Dave, Elise, and I got our monthly progress report letter in the mail. Those again illustrate how inventory is dwindling. Our three remaining listings all had inquiries and showings this week, with more showings scheduled tomorrow during guest turns-overs.

I was out showing homes most of Monday. With only 32 for sale on the entire island, it is difficult for buyers to find exactly what matches their desires. This week, Sanibel condo inventory also is down. There are just 36 units for sale. Owners looking to make a change, whether they are buying to upsize or downsize, will benefit from selling high but may struggle with limited buying options (which also will be high).

From the inventory action posted in the Sanibel & Captiva Islands Multiple Listing Service since last Friday, which follows a couple of news items below, you will notice only two new listings (Sanibel & Captiva) during the 7-day period. With 30 new sales and 13 closings during that same window, inventory is further reduced.

There would have been one more closing, but we had a snafu with one that was to occur this week. The buyer was using her hometown bank for a mortgage. (When the property went under contract, I asked the buyer’s agent who would be doing the financing and warned her there always are problems with non-local banks. She assured me there would be no trouble with this one. Ha!)

The bank (where the buyer had done business for decades) provided written loan commitment weeks ago, but when it came time for them to issue loan documents to the title company, they denied the loan. I have never heard of this happening, but thankfully our seller is co-operative, is giving the embarrassed buyer more time, and the Sanibel-Captiva Community Bank has come to the rescue. David Wright and San-Cap Bank routinely lend all over the island and will get this one closed albeit with a bit of a delay.

Water Quality Update

As we continue to enjoy the bright blue waters viewed when crossing the causeway, it is important to remember what can happen after the rainy season. An article written by SCCF’s Environmental Policy Director, James Evans, and posted in this week’s “Island Reporter” has some news about that:

“The U.S. Army Corps of Engineers is in the process of developing a new Lake Okeechobee Regulation Schedule that will provide new guidance on how the Army Corps will manage water in Lake O for the different parts of South Florida’s complex water management system. The new schedule is called the Lake Okeechobee System Operating Manual, or LOSOM.

“LOSOM will consider additional infrastructure that will soon be operational, including rehabilitation of the Herbert Hoover Dike, Kissimmee River Restoration and Comprehensive Everglades Restoration Plan (CERTP) projects, such as the C-43 Reservoir located within the Caloosahatchee watershed and the C-44 Reservoir location in the St. Lucie watershed. LOSOM is supposed to balance the various project purposes of the Central and South Florida Project (C&SF); flood control; navigation; water supply for agricultural irrigation, municipalities, industry and Everglades National Park; regional groundwater and salinity control; enhancement of fish and wildlife; and recreation.

“Extensive drainage work that has occurred in the Caloosahatchee watershed over the past century resulted in a system that drains very quickly with little to no treatment, resulting in water of poor quality being delivered to the estuary and the coast. Because of these hydrological changes, the Caloosahatchee currently receives the lion’s share of the harmful discharges from the lake during the rainy season and is often cut off from beneficial flows during the dry season. This has resulted in wide-ranging damage to the estuary and its ecosystems, including impacts to freshwater tape grass, oysters and sea grasses that depend on a balance of fresh and saltwater.

“CERP is the roadmap to restoring the ecosystem damage caused by the C&SF Project. The goal of CERP is to restore the quality, quantity, timing and distribution of freshwater flow to the Everglades and Florida Bay and the northern estuaries of the Caloosahatchee and St. Lucie. The plan relies on massive infrastructure projects to store, treat and convey freshwater to the Everglades and reduce damaging discharges to the northern estuaries.

“While we wait for Everglades restoration to be completed, we have the opportunity to better balance the needs of our natural systems through development of the new lake regulation schedule. LOSOM is not designed to solve all our water management issues – although some stakeholders are using LOSOM to push for near-perfect water management conditions without the infrastructure to support such a request.

“The Army Corps of Engineers and the South Florida Water Management District will need to make challenging decisions about how best to balance the needs of the system. It is unacceptable to continue to operate the system to benefit private landowners at the expense of our public resources.

“During the LOSOM process, we need our West Coast stakeholders to be engaged and support plans that reduce the damaging high-flow discharges to the Caloosahatchee, while providing beneficial flows during the dry season. We also need to support plans that protect other natural systems that we depend on by maintaining water levels in Lake O that maintain a healthy ecosystem and deliver dry season flows to the Everglades. This can only be achieved by all stakeholders recognizing the need for truly balancing the needs of the entire system.

“To learn more about the U.S. Army Corps of Engineer’s process for development LOSOM, visit the Lake Okeechobee System Operation Manual at https://www.saj.usace.army.mil/LOSM.”

More info at www.SCCF.org, too.

Sanibel-Captiva Conservation Foundation Marine Lab Data to Help

From SCCF’s Wednesday update: “The SCCF Marine Laboratory recently uploaded its extensive water quality data from Gulf waters off our islands into the Florida Department of Environmental Protection’s (FDEP) Watershed Information Network database system. This is a major step forward so that the state can officially evaluate the Gulf of Mexico’s quality for management planning.

“Southwest Florida residents are likely to assure that the state already understands what’s happening in the Gulf due to repeated red tide and algae bloom events that impact humans and wildlife. However, not even one “waterbody unit” in the Gulf has ever been evaluated by FDEP due to a lack of enough water quality data.

SCCF photo – Marine Lab getting water samples.

“SCCF put forth a tremendous effort for this very purpose. The SCCF Water Quality Database was created in 2009 and it includes 88,000 samplings and analysis records from nearly 9,700 separate sampling events. Using the R/V Norma Campbell, The Marine Laboratory regularly collets water quality data in the Gulf of Mexico thanks to funding from the Vince Family through Goldman Sachs Cares.

“”That’s a lot of records,” said SCCF Research Associate Mark Thompson. “The FDEP requires each record go through a series of more than 100-quality assurance checks before it can be accepted. The data must be in the correct form and order, with the correct elements that fall within acceptable ranges. You can imagine how time-intensive this feat was to upload 88,000 records.”

“This massive undertaking will eventually be rewarded through improved state and federal management. The Impaired Water Rule requires the state to identify impaired waterbodies based upon existing water quality data – so now it has the data that show how and where the water is impaired and the sources of those problems.

“The FDEP’s Watershed Information Network (WIN) database evaluates and maps the state’s waters, each portioned into what the state calls a “waterbody ID unit” as indicated on this chart. A certain amount of data is needed before the unit is evaluated, and the information is used by researchers and reported to the U.S. Environmental Protection Agency.

“”SCCF has collected enough data to satisfy FDEP requirements for evaluating Gulf of Mexico waterbody segments near Sanibel and Captiva,” said Thompson. “This data is ready to be assessed by FDEP so it can get started on improving water quality in the Gulf.”

Thompson added, “This sounds dry and boring to most folks – even to the person who did it. But there was a warm and fuzzy feeling which transpired just after the deed was done.””

Sanibel & Captiva Islands Multiple Listing Service Activity April 16-23, 2021

Sanibel

CONDOS

No new listings.

2 price changes: Sundial #C303 2/2 now $695K, Sanibel Arms West #C4 2/2 now $910,990.

13 new sales: Sanibel Moorings #242 1/1 listed at $409K, Sundial #I105 1/1 listed at $415K, Sundial #C409 1/1 listed at $469K, Sandpebble #1D 2/2 listed at $569.5K, Pointe Santo #C4 1/1 listed at $585K, Sanibel Arms West #E4 2/2 listed at $889K, Oceans Reach #1C1 2/2 listed at $899K, Pelicans Roost #102 2/2 listed at $930K, White Sands #13 2/2 listed at $949K, Sanddollar #B101 2/2 listed at $1.125M, Pointe Santo #E26 2/2 listed at $1.269M, Sanddollar #C202 3/2 listed at $1.3M, Pointe Santo #E24 3/2 listed at $1.495M.

5 closed sales: Tennisplace #C26 1/1 $350K, Mariner Pointe #241 2/2.5 $665K, Heron at The Sanctuary #1B 3/3.5 $850K, Sanddollar #C201 2/2 $1.18M, Tigua Cay #489 3/3.5 $2.325M.

HOMES

1 new listing: 9456 Beverly Ln 3/2 $789K.

7 price changes: 1644 Bunting Ln 3/3 now $658K, 2011 Mitzi Ln 2/1 now $685K, 4619 Bowen Bayou Rd 3/2 now $862K, 5773 Sanibel-Captiva Rd 2/2 now $1.225M, 820 Angel Wing Dr 3/2 now $1.495M, 1761 Venus Dr 4/3.5 now $1.899M, 486 Surf Sound Ct 3/3.5 now $1.295M

13 new sales: 2098 Wild Lime Dr 3/2 listed at $795K, 1560 Poinciana Cir 3/2 listed at $880K, 5186 Sea Bell Rd 3/3 listed at $998K, 2563 Coconut Rd 2/2 listed at $1.049M, 1350 Sand Castle Rd 3/2 listed at $1.199M, 5423 Shearwater Dr 3/3 listed at $1.245M, 812 Sand Dollar Dr 3/3 listed at $1.249M, 9445 Beverly Ln 4/3 listed at $1.375M, 940 Whelk Dr 3/2 listed at $1.47M, 837 Sand Dollar Dr 3/3.5 $1.895M, 813 Angel Wing Dr 3/3.5 listed at $2.689M, 4601 Rue Belle Mer 3/2 listed at $3.395M, 4701 Rue Belle Mer 4/5 listed at $3.395M.

5 closed sales: 958 Sand Castle Rd 3/2 $705K, 1421 Sand Castle Rd 3/2 $905K, 1200 Kittiwake Cir 3/2 $905K, 249 Violet Dr 4/3 1.04M, 3744 West Gulf Dr 4/4 $1.95M.

LOTS

1 new listing: 2299 Starfish Ln $549K.

No price changes.

2 new sales: 3013 Poinciana Cir listed at $259.9K, 0 West Gulf Dr listed at $3.895M.

1 closed sale: 6008 White Heron Ln $810K.

Captiva

CONDOS

No new listings.

1 price change: Seabreeze #1251 3/3 now $2.05M.

1 new sale: Ventura Captiva #4A 3/3 listed at $1.1M.

1 closed sale: Bayside Villas #4322 3/3 $729K.

HOMES

No new listings or price changes.

1 new sale: 15155 Wiles Dr 3/2 listed at $1.975M.

1 closed sale: 15000 Binder Dr 3/2 $1.271M.

LOTS

Nothing to report.

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

Until next Friday, Susan Andrews, aka SanibelSusan

Sanibel White Stuff = Sand & Seashells

Posted on April 16, 2021 by SanibelSusan

It is another sunny Sanibel Friday. More warm weather abounds in SW Florida and the drive across the causeway is back to the brilliant azure blue that we see each spring before the rainy season begins.

There was a noticeable decrease in traffic this week on Periwinkle Way, but the City continues to post their daily noontime warning as soon as more than 5,500 cars cross the causeway. I still drive home from the office the back way, with little to no waits this week between 5 and 6 p.m.

Regarding Sanibel’s State of Emergency due to COVID-19, on Tuesday, Mayor Holly Smith again extended the mask requirement and the emergency proclamation until next Tuesday, April 20. Masks are required in all businesses and outside where social distancing is not possible. It seems to be working with a total of 248 Sanibel cases reported from March 26, 2020 through April 14, 2021, a total of 11 on Captiva.

This May Be the Best Month Ever to Sell a Home

Posted on-line yesterday, Apr 15, 2021 on FloridaRealtors®, by Kerry Smith: “Study: April is the best month to sell a home – more buyer interest, less competition, higher list prices and faster sales – and given market conditions right now that strongly favor sellers, there may never be a better time for homeowners to post a for-sale sign in their yard.”

“In today’s market, it seems as if it’s always a good time to sell a home because they’re selling fast, often sight unseen. However, this month, depending on the city, may be the best time of the best times to sell a home, according to realtor.com’s 2021 Best Time to List analysis. From April 18-24, debuting home sellers should see more buyer interest, less competition from other sellers, a faster sale and a higher listing price, the study suggests.

“To determine the optimum time to list, the study considered competition from other sellers, median listing prices, time it takes to sell, likelihood of price reductions and interest from buyers measured by views per property on realtor.com’s website. Because of COVID’s disruption in 2020, the analysis included 2018-2019 listing data.

“Unlike 2020 when COVID upended the spring home-buying season and pushed buyer interest to later in the year, this year’s housing market is following more typical seasonal trends,” says realtor.com Chief Economist Danielle Hale. “With half as many homes available for sale this year than last, sellers are well positioned for a quick sale at top dollar. However, for most sellers, listing sooner rather than later could really pay off with less competition from other sellers and potentially a higher sale price. They’ll also avoid some big unknowns lurking later in the year, namely another possible surge in COVID cases, rising interest rates and the potential for more sellers to enter the market.”

“However, while that April sweet spot for listing a home may be true for most Florida metro areas, it’s not so consistent in South Florida. According to realtor.com’s analysis, the best day of the year for a seller to list a home in a major Florida metro is:

Jacksonville: April 4
Miami-Fort Lauderdale-West Palm Beach: July 4
Orlando-Kissimmee-Sanford: April 25
Tampa-St. Petersburg-Clearwater, Fla.: April 25

“What makes the week of April 18 stand out?

“Higher price: Homes listed next week typically sell 2% higher than the average week and 10.4% higher than at the start of the year. If 2021 follows the typical seasonal trend, a median priced home listed next week could sell for $7,500 above the average week and $36,000 more than it would have in early January.

“Strong buyer demand: Homes typically get 11% more views on realtor.com than the average week throughout the year.

“Less competition: Homeowners who listed during the week of April 18 in 2018 and 2019 saw 5% fewer sellers on the market compared to the average week throughout the year.

“Faster sale: Historically, homes listed during this week sold 14.1% faster than the average week. In 2021 terms, this would translate to selling in just 59 days – eight days faster than homes listed in other weeks, on average.

“A downside to waiting?

While waiting a few months to list a home may be fine, some potential housing market shifts could lessen homeowners’ current advantage. Rising mortgage rates, which realtor.com forecasts will reach 3.4% by the end of the year, could dampen buyer demand later in the home-buying season.

“In addition, improved vaccination rates could also bring more competition if an uptick in homeowners decides that it’s now safe to make a move.

““It’s a seller’s market right now, but you still need to ensure your home makes a great first impression, especially if you want to get the best price for your place,” says Rachel Stults, deputy editor for realtor.com. “The key is zeroing in on what buyers want. In the wake of the COVID-19 pandemic, buyers are looking for more space – or flexible space they can transform into what they need.”” © 2021 Florida Realtors®

Why You Need SanibelSusan Realty Associates

With the “hot” real estate market in many parts of the country, including the islands, we have heard of prospective sellers saying, “You should reduce your commission since you won’t need to do as much work to get my property sold” or “You should charge less if you sell it yourself.”

Let’s consider these suggestions. First, if a seller wants to get sale terms that meet certain expectations, they need to make those requirements known. Perhaps they are only looking to sell if they get a certain price or maybe they can’t close until after a specific date or want to spend another winter here, or maybe they want to sell all their furnishings too.

Should they want the person that will negotiate terms on their behalf, be someone that is willing to give away their own fee? Or should they want someone working for them that will negotiate for them, like they do for themselves. Someone who is tough, but fair, honest, and forthright.

Especially in a hot market, sellers here need the exposure that only a local established on-island Realtor can provide. Everyone deserves solid ethical representation.

I built The SanibelSusan Team because I believe that no one is an expert in everything. In high school, I was voted “best all-‘round”. For years, I thought that meant I could do lots of things but was not a pro at any of them. Then I went to work for the government and then private industry. I found that whether in engineering or management or real estate, the strongest businesses are created with the smartest most-flexible people – not just one person.

On my team, my forte is the analysis, the details, the contracts, probably the result of all those years spent in marine engineering and in writing/administering/negotiating service contracts. I love the nitty gritty in getting a deal done.

Teammate Realtor® David Anderson, is our boots on the ground guy. He oversees the physical aspects of our office and the properties we list and sell. He is our internet sleuth and computer guru. He pulls files at City Hall, determines property values, researches their permit status and their opportunity for development or improvement. He accompanies our inspections, oversees repairs, and does our heavy lifting.

Teammate Elise Carnes, like Dave, has been part of the team for almost 21 years. As our licensed assistant and notary, Elise oversees our listing action items including preparing fliers, inventories, MLS postings, and bulk mailings. She schedules showings, follows up on feedback, and coordinates our weekly and monthly progress reports.

Realtor® teammate Lisa Murty is our Saturday gal. She coordinates weekend showings and updates our island inventory lists. She joined the team in 2007. With a background in the hospitality industry, she always is looking for ways to make selling our listings easy.

Does every SanibelSusan teammate know the ins and outs of the Florida sales contracts and are they all qualified to sell a property? Of course, they are, but more importantly we work together, capitalizing on our strengths, but flexible enough to do it all.

Whether The SanibelSusan Team is working for buyers, sellers, or both, we are fair, honest, and forthright. Our goal is to provide the best service. Our reputation is “we tell the truth” and sometimes that may be hard, but we want to make working with us the ”best” real estate experience.

Sanibel & Captiva Inventory

Table below with data from Sanibel & Captiva Islands Multiple Listing Service 4/16/2021. Prices in italics are asking prices.

Average sale prices are provided for closed sales year-to-date, and in all of the years 2020, 2019, and 2006 (which was the prior peak year).

It is hard to believe that there are only 36 homes currently for sale on Sanibel, compared to 193 sold this year. The condo market is catching up, with just 47 Sanibel condos for sale, 144 sold this year. More Sanibel lots have sold already than in each of the last 15 years. Forty-six have sold, just 28 are for sale.

SANIBEL	CONDOS		HOMES		LOTS
SANIBEL	#	Avg Price $	#	Avg Price $	#	Avg Price $
Available	47	841,778	36	2,325,580	28	819,111
Under contract	51	816,900	66	1,415,536	12	1,056,325
Sold to-date 2021	93	864,419	127	1,324,262	34	521,588
Sold 2020	192	733,876	290	954,718	23	606,233
Sold 2019	127	694,392	211	949,790	15	372,200
Sold 2006	143	866,972	156	1,143,682	18	523,917

CAPTIVA	CONDOS		HOMES		LOTS
CAPTIVA	#	Avg Price $	#	Avg Price $	#	Avg Price $
Available	8	1,740,312	16	4,819,874	1	3,995,000
Under contract	14	1,270,671	10	2,328,100	1	2,450,000
Sold to-date 2021	19	967,684	20	3,244,595	0	N/A
Sold 2020	47	821,713	27	2,923,148	4	2,537,500
Sold 2019	29	1,037,077	17	2,737,503	1	1,375,000
Sold 2006	27	797.532	25	2,127,352	0	N/A

Sanibel & Captiva Islands Multiple Listing Service Activity April 9 to 16, 2021

CONDOS

2 new listings: Sanibel Arms West #I8 2/2 $624K, Sanibel Surfside #115 2/2 $1.05M.

2 price changes: Sanibel Moorings #242 1/1 now $409K, Sanibel Arms West #C4 2/2 now $911K.

3 new sales: Spanish Cay #F2 1/1 listed at $325K, Blind Pass #D203 2/2 listed at $459K, Loggerhead Cay #572 2/2 listed at $719K.

12 closed sales: Sanibel Moorings #1512 2/2 $529K; Sanibel Arms West #B5 2/2 $540K; Pointe Santo #B26 2/2 $675K; Sand Pointe #217 2/2 $752.5K; Sand Pointe #113 2/2 $775K; Sand Pointe #216 2/2 $800K (our buyer); Sanibel Arms West #F1 2/2 $924,150; White Pelican #111 2/2 $1.245M; Pine Cove #202 3/2 $1.3M; By The Sea #B301 2/2 $1.595M; Cyprina Beach #2 3/3 $1.65M; Somerset #D102 3/2.5 $1.8M.

Sand Pointe pool

HOMES

3 new listings: 5423 Shearwater Dr 3/3 $1.245M, 820 Angel Wing Dr 3/2 $1.595M, 4601 Rue Belle Mer 2/2 $3.395M.

2 price changes: 3010 West Gulf Dr 3/2 now $1.299M, 940 Whelk Dr 3/2 now $1.47M.

10 new sales: 1695 Serenity Ln 3/2 listed at $649K, 958 Sand Castle Rd 3/2 listed at $714K, 4505 Bowen Bayou Rd 3/3 listed at $729K, 1117 Captains Walk St 2/2 listed at $857K, 1275 Par View Dr 3/2 listed at $1.399M, 2303 Troon Ct 3/4 listed at $1.4959M, 1200 Kittiwake Cir 4/3.5 listed at $1.5M, 742 Sand Dollar Dr 3/3 listed at $1.55M, 775 Conch Ct 4/3 listed at $1.895M, 1680 Hibiscus Dr 3/3.5 listed at $1.975M.

18 closed sales: 1835 Ardsley Way 2/2 $444K; 976 Greenwood Ct 3/2.5 half-duplex $515K; 4397 Gulf Pines Dr 3/3 $655K; 5303 Umbrella Pool Rd 3/2.5 $685K; 1965 Roseate Ln 3/2 $740K; 1052 Fish Crow Rd 3/2 $760K; 3781 Coquina Dr 3/2 $794,999; 1045 Blue Heron Dr 2/2.5 $889K; 685 Sea Oats Dr 3/2/2 $1.05M; 957 Cabbage Ct 3/3 listed at $1,062,150; 5076 Joewood Dr 3/2 $1.329M; 490 Sawgrass Pl 3/2.5 $1.41M; 1480 Middle Gulf Dr 4/4/2 $1.56M; 2479 Harbour Ln 4/3 $1.695M; 513 Lighthouse Way 3/3 $1.755M; 1283 Isabel Dr 3/2 $1.84M, 550 Lighthouse Way 4/4.5 $2.775M; 4961 Joewood Dr 4/4 $4.995M.

LOTS

No new listings or price changes.

1 new sale: 6000 White Heron Ln listed at $850K.

3 closed sales: 667 Birdie View Pt $315K, 3308 Saint Kilda Rd $430K, 3324 Saint Kilda Rd $430K.

Captiva

CONDOS

No new listings, price changes, or new sales.

3 closed sales: Bayside Villas #5118 1/2 $392.5K, Lands End Village #1637 2/2 $1.41M, Lands End Village #1634 3/3 $2.32M.

HOMES

1 new listing: 15867 Captiva Dr 7/6 $12.7M.

2 price changes: 15300 Captiva Dr 9/7 now $6.7M, 15261 Captiva Dr 4/4.5 now $11.499M.

No new sales.

3 closed sales: 11504 Wightman Ln 4/3.5 $1.475M, 16727 Captiva Dr 5/4 $1.925M, 16447 Captiva Dr 7/6/2 $2.79M.

LOTS

Nothing to report.

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

Until next Friday, Susan Andrews, aka SanibelSusan

Another Bright Sunny Friday on Sanibel & Captiva

Posted on April 9, 2021 by SanibelSusan

As the SanibelSusan Team and I maneuvered through another week of wonderful sunny island weather (low humidity, yet day-time temperatures in the 80’s), we occasionally had to remind ourselves to be patient. Easter always is the busiest week until Christmas, so it was not unusual for complaints about heavy roadway traffic, busy bike paths, and full lots at the public beaches. We try to take the temporary inconveniences in stride – hoping that some buyers are in the visitor mix – particularly ones that want to purchase our listings.

Beach in front of our listing at White Sands

Each day as soon as causeway traffic exceeded 5,500 vehicles (usually before noon), The City website, www.MySanibel.com, posted warnings of heavy off-going afternoon/evening traffic. Lee County commissioners (who regulate the bridge tolls) met this week and discussed keeping the toll booth unmanned, while raising the fee from $6 to $8 to cover the additional costs associated with that change. No decision was made, but it could be an omen of things to come.

Weather Changing

Southwest Florida needs rain with many lawns and vegetation turning yellow and crunchy. Less than an inch of rain was accumulated last month, so water is needed. The rainy season usually does not start until May, but forecasters are saying that we may get brief scattered showers both Sunday afternoon and Monday.

Last week, I posted a couple of pix of the first two gardenia blooms on the bush by my front door. I guess, those plants don’t need a lot of water, as this week, the bush has exploded. Wish you could smell it – it’s heavenly!

When the rainy season begins, usually hurricane season is not far behind (Jun 1 through Nov 30). After the historic tropical storms of 2020, meteorologists predict 2021 could be another busy hurricane season, with between 16 to 20 named storms expected for the Atlantic area.

SanibelSusan Realty

This week at SanibelSusan Realty, we had another nice closing, a couple of walk-ins and several listing and showing inquiries. Unfortunately, once again, most Realtors® wanting to show our condo listings that are booked solid, have buyers departing before, or arriving after, the short Saturday window between when guests leave and new ones arrive.

Teammate Dave was out showing and has been sleuthing for properties that meet buyers’ requirements. We have done that a lot lately. We continue to search for new listings, particularly in communities where we have buyers “waiting”.

Sanibel & Captiva Islands Association of Realtors®

Now it has been more than a year since our Sanibel & Captiva Islands Association of Realtors® has met in person for Caravan and Membership meetings. We hope that changes soon. The next Open Caravan Zoom meeting is Apr 15.

Wondering about inventory today? It remains super low. Below is an update from the islands Multiple Listing Service as of Apr 9.

CONDOS:

On Sanibel, 46 for sale, average asking price $821,267.

On Captiva, eight for sale, average asking price $1,740,312.

HOMES:

On Sanibel, 39 for sale, average asking price $2,208,638.

On Captiva, 15 for sale, average asking price $4,280,599.

What about sales, year-to-date?

CONDOS:

On Sanibel, 148 sold/under contract, average asking price $866,941.

On Captiva, 33 sold/under contract, average asking price $1,112,239.

HOMES:

On Sanibel, 185 sold/under contract, average asking price $1,416,986.

On Captiva, 30 sold/under contract, average asking price $3,120,616.

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

Update on COVID-19

The mask mandate remains in effect for Sanibel businesses, with the City State of Emergency extended by the Mayor until Apr 13.

FISH (Friends in Service Here of San-Cap) was notified this week that they would get another 300 vaccine doses which were administered today (by appointment) at The Community House.

Today’s Housing Market? ‘Not the Time for Amateurs’

Posted on-line Wednesday at FloridaRealtors®:

“It may be possible to buy a home without the help of a Realtor – but it’s hard to see how given today’s multiple bid competitions for a limited number of homes.

“NEW YORK – Real estate agents agree: Even though the spring housing market is hot, many are desperate to find listings – and this is not the market for amateurs. Nationally, there are about half as many listings not under contract right now than there were a year ago, according to realtor.com The typical home also is now selling a week faster than last year.

“By the numbers, there are now about twice as many working real estate agents as there are listings. Spring is the traditional time of year when the most listings come on the market, but this past March saw 20% fewer homes listed than last March.

“Potential sellers have several concerns, the largest being that they’re afraid they won’t be able to find or afford another home. Not only are home prices incredibly hot – up over 11% year over year, according to the S&P Case-Shiller home price index – but rents are also rising fast.

““The uptick in mortgage rates is likely fueling more bidding wars in the short term because house hunters are rushing to buy homes before rates rise even further,” says Redfin chief economist Daryl Fairweather.

“Supply has been tightest on the low end of the market, but the higher end is now slimming as well. Moreover, real estate agents are relying on their networks to find homes for clients no longer constrained by location thanks to remote work. Source: CNBC (04/05/21) Olick, Diana © Copyright 2021 INFORMATION INC., Bethesda, MD (301) 215-4688”

Island Spring Things

SCCF Sea Turtle Program – Sanibel-Captiva Conservation Foundation (SCCF) Sea Turtle volunteers are trained and ready to begin surveying the islands during turtle nesting season, from Apr 15 through Oct. Nearly 100 volunteers take part in this program, conducting the surveys designed by the Florida Fish & Wildlife Conservation Commission, with a defined number of positions. Today, the wait list is more than the number of active volunteers with only a few positions opening each season.

Snowy Plovers – Tues, SCCF posted the following: “We are excited to report that we just roped off our first snowy plover nest of the season! Our shorebird biologist and volunteers found a one-egg nest on the East End of Sanibel this morning and roped it off immediately. The volunteers named the snowy plover … “Pale Male.” He’s shading the egg while his mate was off feeding to get energy to lay the next egg. We also have another area posted on the East End where our snowy plovers usually nest. There are two pairs that will likely nest there. Click here to learn how to protect these precious shorebirds! sancaplifesavers.org”

Lake Okeechobee Releases Reduced

Last week, the U.S. Army Corps of Engineers Jacksonville District reported that it would reduce Lake Okeechobee release to coastal estuaries beginning April 3 to slow the lake recession rate. Releases to the Caloosahatchee River are reduced to 1,200 cubic feet per second as measured at the W.P. Franklin Lock and Dam and to 300 cfs as measured at the St. Lucie Lock and Dam. The releases are being continued as part of a planned deviation which was approved in Sept to reduce the risk of lake releases when harmful algal blooms are more likely present (in the summer). Since it began in Feb, the deviation has released about 80,500 acre feet of additional water from the lake.

One of the requirements for using the Harmful Algal Bloom deviation is for the Army Corps to maintain a recession rate of no more than 0.5 feet per month to avoid harm to nesting birds. As of Apr 2, the lake stage was at 14.44’. The lake had fallen 0.87’ in the past 30 days, but still was 2.61’ higher than it was one year ago and 2.58’ higher than two years ago. The releases regularly will be reevaluated as conditions change. Recent satellite images show conditions on Lake O remain poor for development of large harmful algal blooms. Additionally, the Florida Department of Environmental Protection tracks water samples. Operators continue daily monitoring.

Sanibel & Captiva Islands Multiple Listing Service Activity April 2-9, 2021

Sanibel

CONDOS

4 new listings: Blind Pass #D203 2/2 $459K, Blind Pass #E104 2/2 $549.9K, Sanibel Arms West #I2 2/2 $599K, Atrium #102 3/2 $1.498M.

No price changes.

9 new sales: Sundial #F106 1/1 listed at $465K, Kimball Lodge #264 1/1.5 listed at $570K, Loggerhead Cay #351 2/2 listed at $629K, Island Beach Club #210A 2/2 listed at $729K, Sanibel Arms West #D6 2/2 listed at $955K, Pointe Santo #C23 3/2 listed at $995K, Tarpon Beach #109 2/2 listed at $1.1M, Compass Point #102 2/2 listed at $1.375M, Shorewood #2D 3/2 listed at $1.595M.

7 closed sales: Sanibel Arms #C5 2/2 $435K, Blind Pass #E207 2/2.5 $466K, Loggerhead Cay #223 2/2 $575K, Sandalfoot #2C2 2/2 $640K, Loggerhead Cay #274 2/2 $658.5K, Mariner Pointe #112 2/2 $675 (our listing), Sandals #A 3/3.5 $1.825M.

Dockage at Mariner Pointe

HOMES

6 new listings: 4505 Bowen Bayou Rd 3/3 $729K, 2098 Wild Lime Dr 3/2 $795K, 4619 Bowen Bayou Rd 3/2 $894K, 5186 Sea Bell Rd 3/3 $998K, 1275 Par View Dr 3/2 $1.399M, 1146 Golden Olive Ct 5/4 $3.299M.

6 price changes: 1717 Atlanta Plaza Dr 2/2 now $550K, 1695 Serenity Ln 3/2 now $649K, 3010 West Gulf Dr 3/2 now $1.345M, 930 Kings Crown Dr 3/2 now $1.55M, 742 Sand Dollar Dr 3/3 now $1.55M, 4014 West Gulf Dr 4/3 now $3.849M.

10 new sales: 1717 Atlanta Plaza Dr 2/2 listed at $550K, 1644 Bunting Ln 3/3 listed at $643K, 5859 Pine Tree Dr 2/2 listed at $749.9K, 1186 Sand Castle Rd 3/2 listed at $825K, 812 Sand Dollar Dr 3/3 listed at $1.249M, 1743 Jewel Box Dr 3/3.5 listed at $1.395M, 1044 Whisperwood Way 4/4.5 listed at $1.995M, 1245 Isabel Dr 3/4.5 listed at $2.149M, 880 Limpet Dr 4/3.5 listed at $2.5M, 1314 Seaspray Ln 5/5.5 listed at $6.995M.

11 closed sales: 1613 Sand Castle Rd 3/2 half-duplex $575K, 3085 Poinciana Cir 2/2 $599K, 9211 Dimmick Dr 3/2 $699K, 1985 Sanibel Bayou Rd 3/2 $790K, 1050 White Ibis Dr 4/3.5 $935K, 2313 Wulfert Rd 4/3 $1M, 6101 Starling Way 3/3.5 $1.05M, 1147 Buttonwood Ln 3/2 $1.165M, 4500 Waters Edge Ln 2/2 $1.175M, 1323 Seaspray Ln 4/4.5 $1.65M, 2964 Wulfert Rd 5/5.5 $2.65M.

LOTS

No new listings.

1 price change: 6141 Starling Way now $897K.

2 new sales: 971 Main St listed at $205K, 9042 Mockingbird Dr listed at $395K.

3 closed sales: 1820 Ardsley Way $170K, 1303 Par View Dr $300K, 3354 Barra Cir $350K.

Captiva

CONDOS

No new listings or price changes.

2 new sales: Ventura Captiva #4A 3/3 listed at $1.1M, Lands End Village #1662 3/3 listed at $1.99M.

No closed sales.

HOMES

1 new listing: 41 Oster Ct 2/2.5 $1.125M.

No price changes, new sales, or closed sales.

LOTS

Nothing to report.

Until next Friday, Susan Andrews, aka SanibelSusan

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

Easter Weekend 2021 on Sunny Sanibel

Posted on April 2, 2021 by SanibelSusan

Easter weekend 2021 has arrived with the islands bustling this week with many families on spring holiday. Wonderful bright sunny warm weather has kept the beaches, waterways, and bike paths busy. Late yesterday another cool front passed through SW FL which brought stiff breezes (kiteboarders are happy) and dropped temperatures into the 50’s last night. It still is expected to reach the mid-70’s degrees on Sanibel today, with more of the same weather (no rain) expected for the next seven days.

At my home this morning, in addition to many brilliant pink hibiscus, bougainvillea, and periwinkle blossoms, I noticed that my gardenia bushes are blooming earlier than usual. Spring definitely has sprung here!

At SanibelSusan Realty

Again, this week, we have been busy with condo buyers, offers, listing presentations, and more closing action items. Another listing sale was finalized too, while teammates Dave and Elise also got another big postcard mailing out yesterday. Those postcards continue to bring us productive inquiries.

Usually, Easter week on the islands is one of the busiest of the year. With inventory continuing to dwindle, it will be interesting to see how 2021 differs from the norm.

Just after high season, when rental rates drop, often is when prospective buyers return that want to buy an investment property. Properties in seasonal rental programs that were heavily rented in high season may have a break in bookings between winter visitor bookings and summer vacationers. Those prospective buyers hope more showing opportunities are available during that short window.

In years past, bargain hunters also would return “post season”. Those are hoping to grab a property that may have been listed a long time that a seller wants to be done with before hurricane season.

With the abrupt change in supply and demand over the last few months, it is important to advise owners and prospective sellers that though the “as is” sales contract is used most often on Sanibel, this year, it has resulted in many contract cancellations. We rarely saw those before 2021.

Unlike the standard Florida residential sales contract which has no “out” for a buyer (unless there is a specified contingency), the “as is” contract has an inspection/cancellation period. During that inspection/cancellation period, the buyer may walk away from the sale for any reason. They could just change their mind.

In a hot market like now, buyers are making “as is” offers, often without them or their agent having seen the property. If that buyer becomes the successful offeror and the property goes under contract, the buyer then may come and view the property, or have it inspected, or do their due diligence during the inspection period.

To be successful, in some instances, those offers need to be at least full price and with no contingencies – including a zero-days inspection/cancellation period (no inspection/cancellation period).

Some desirable properties have gone under contract within days or minutes of going on the market, and sometimes over asking price. Which also is why, it is important for buyers to work with Realtors® with strong connections. Sometimes we sleuth out a property that will meet a buyers requirements.

Some sellers have asked us how long this market will continue. I wish we knew that answer, but we can say that it likely will take years for inventory to meet today’s demand. Based on Sanibel sales activity over the pandemic months, today with just 54 properties available (including homes, condos, & lots), there is less than a two-month supply.

Yesterday, teammates and I chatted about how the pandemic has affected sales. The island has welcomed many “new” visitors over the last few months. The City usually posts a warning when the number of vehicles coming across the causeway that day will likely result in heavy off-going afternoon and evening traffic. Many of these “new” visitors discover that they love Sanibel and its lifestyle. Some, who have explored buying in other Florida beach areas, are appreciative of what their dollar can buy here.

With more people being vaccinated, many wanting a vacation break, and others finally feeling more comfortable traveling, though not yet outside the U.S., it may stay busy right through the summer. We have a few listings that fit the profile of the typical spring buyers and we continue to welcome new listings.

Pandemic Update

All Florida Residents Eligible for Vaccine – The state has announced that on Monday, April 5, all Florida residents are eligible to receive any COVID-19 vaccine as prescribed by the FDA. The Pfizer vaccine is authorized for persons age 16 and up, while the Moderna and Johnson & Johnson vaccines are authorized for persons age 18 and up.

My experience getting my 2^nd shot this week at the airport site managed by FL Dept of Health in the north parking lot across from the old terminal was different from my first experience. Still well staffed and efficient, it took a bit longer with many more people being processed. The Disney-like maze of lines waiting to get into the tent for shots was tedious for about 30 minutes, took about 45 minutes total.

SanibelSusan Teammate #3 is getting her first shot on Monday at the same location. Pre-register for an appointment on-line at www.MyVaccine.FL.gov or call 866-200-3468. The week of April 12, this facility is relocating indoors to the old Sears location at Edison Mall (air conditioned).

On The Islands – The Tuesday update from www.MySanibel.com: “The City declared State of Emergency, issued in response to COVID-19, has been extended by Mayor Holly D. Smith until April 6, 2021, unless further extended. Per State Statute, the maximum duration for a Mayoral Declaration of Emergency is seven (7) days and thus must be updated weekly as long as emergency conditions are present.

“Additionally, the City of Sanibel face covering mandate is reaffirmed to be consistent with the Governor’s Order 20-244. The face covering mandate is reaffirmed and shall remain in force and effect throughout the duration of this 7-day state of local emergency. To avoid the spread of COVID-19, social distancing is encouraged, and group gatherings should be avoided.”

According to the FL Dept of Health website, as of March 31, of the 2,064,525 COVID-19 cases reported in Florida, 243 were on Sanibel, 11 on Captiva.

Membership Offerings at The Sanctuary

I received an e-mail update this week from Kathryn Riggio, Membership Coordinator at The Sanctuary Golf Club. She is great at keeping island Realtors® aware of what is happening at the club so that we may correctly advise prospective buyers of the features and membership availabilities there. She said that some club membership price changes will take effect on May 1 when their premier offering, Equity Membership (full golf) increases from $120K to $130K. This membership provides full privileges to activities and sports, dining, and club facilities. The Club offers introductory and temporary memberships too.

Although there currently is at least a 2-year wait list for Social memberships, on May 1, those increase from $30K to $50K. These memberships come with access to the Club social activities and fine dining, the Wellness complex (tennis, pickleball, pool, fitness center, bocce) and to golf including playing the course from May 1 through September 30 for greens and cart fees. Social members do not have voting or redemption rights or hold an equity position in the Club, but the social fee may be applied as a credit toward an Equity Membership fee should a member want to convert their membership.

In addition to the fees mentioned for joining, each membership has annual dues, an annual capitol fee, and an annual food/beverage minimum.

Happy Easter

Best spring wishes from The SanibelSusan Team!

Below is a report of the action posted since last Friday in the Sanibel & Captiva Islands Multiple Listing Service.

Sanibel & Captiva Islands Multiple Listing Service Activity March 26-April 2, 2021

Sanibel

CONDOS

4 new listings: Mariner Pointe #231 2/2 $699K, Pointe Santo #D24 2/2 $795K, Sunset South #4D 2/2 $1.05M, Shorewood #2D 3/2 $1.595M.

3 price changes: Sanibel Arms #H6 1/1 now $360K, Loggerhead Cay #351 2/2 now $629K, Island Beach Club #210A 2/2 $729K.

9 new sales: Sundial #D408 1/1 listed at $509.9K; Sanibel Arms West #J5 2/2 listed at $589K; Signal Inn #14 2/2 listed at $789K; Sundial #Q401 2/2 listed at $908K; Sanibel Surfside #123 2/2 listed at $935K; Loggerhead Cay #101 2/2 listed at $998,899; Gulfside Place #218 2/2 listed at $1.349M; Cyprina Beach #2 3/3 listed at $1.6M. Tigua Cay #489 3/3.5 listed at $2.325M.

7 closed sales: Casa Blanca #8 2/1 $340K, Sundial #F307 1/1 $460K, Pelicans Roost #106 2/2 $880K, Kings Crown #104 2/2 $990K (our listing), Gulfside Place #301 3/3 $2.125M, Seascape #106 3/3 $2.55M, Wedgewood #202 3/3.5 $2.595M.

Kings Crown beach path

HOMES

7 new listings: 2011 Mitzi Ln 2/1 $695K, 1186 Sand Castle Rd 3/2 $825K, 2755 Wulfert Rd 3/3.5 $1.098M, 1743 Jewel Box Dr 3/3.5 $1.395M, 2303 Troon Ct 3/4 $1.4959M, 1460 Middle Gulf Dr 4/4.5 $1.799M, 1020 Bayview Dr 5/5.5 $4.595M.

6 price changes: 557 N. Yachtsman Dr 4/3 now $1.129M, 3010 West Gulf Dr 3/2 now $1.349M, 4992 Joewood Dr 3/3.5 now $1.65M, 848 Birdie View Pt 4/3.5 now $1.999M, 5633 Baltusrol Ct 4/4.5 now $2.1M, 544 Lighthouse Way 4/5.5 now $4.25M.

6 new sales: 2441 Shop Rd 4/3.5 listed at $949K, 3570 Bunny Ln 3/3 listed at $869K, 694 Heather Ln 3/3.5 listed at $1.4M, 940 Whelk Dr 3/2 listed at $1.495M, 2311 Starfish Ln 4/4 listed at $1.995M, 750 Periwinkle Way 5/4 listed at $3.3M.

18 closed sales: 4115 Sanibel-Captiva Rd 3/1 $550K, 3040 West Gulf Dr 3/2 $650K, 1753 Bunting Ln 3/2 $720K, 566 Boulder Dr 3/2 $725K, 458 Casa Ybel Rd 3/2.5 $740K, 649 Sea Oats Dr 3/2 $745K, 888 Rabbit Rd 3/2 $749.9K, 1430 Sanderling Cir 4/3.5 $770K, 640 Periwinkle Way 3/2 $825K, 1683 Bunting Ln 3/3 $890K, 1312 Sand Castle Rd 3/2 $950K, 1158 Harbor Cottage Ct 3/2.5 half-duplex $1.095M, 1259 Par View Dr 3/4 $1.125M, 1366 Tahiti Dr 3/2.5 $1.4M, 5439 Osprey Ct 4/3 $1.6M, 784 Birdie View Pt 4/4 $1.795M, 1206 Bay Dr 4/5.5 $2.75M, 4323 West Gulf Dr 6/6 $6.565M.

LOTS

No new listings or price changes.

1 new sale: 6428 Pine Ave listed at $305K.

3 closed sales: 575 Sea Oats Dr $380K, 5821 Pine Tree Dr $430K, 0 Island Inn Rd $500K.

Captiva

CONDOS

1 new listing: Ventura Captiva #4A 3/3 $1.1M.

No price changes.

3 new sales: Tennis Villas #3217 1/1 listed at $362.5K, Bayside Villas #5318 3/3 listed at $789.9K, Gulf Beach Villas #2024 3/3 listed at $1.075M.

1 closed sale: Captiva Cove #2A 3/2 $1.295M.

HOMES

No new listings or price changes.

1 new sale: 14980 Binder Dr 4/4 listed at $2.55M.

3 closed sales: 11505 Gore Ln 5/5 $1.6M, 15361 Captiva Dr 5/4.5 $2.65M, 16394 Captiva Dr 5/4 $6.2M.

LOTS

Nothing to report.

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

Until next Friday, Susan Andrews, aka SanibelSusan

Just Another Gorgeous Friday on Sunny Sanibel

Posted on March 19, 2021 by SanibelSusan

It is SanibelSusan with another Friday Sanibel and Captiva Islands real estate report. If you are wondering if the weather here is fantastic, if the islands are packed, and if the market still is hot, all are true again this week. The most challenging three weeks year-to-date traffic-wise likely will be those ahead as it seems the entire world wants to be visiting SW Florida this spring.

Last night, what forecasters call another “cold” front arrived. That means daytime temperatures will remain in the 70’s for over the weekend. Those from north of Florida, probably still get a chuckle about these tropical “cold fronts.” Below is a photo taken this afternoon from Woodring Rd, bayside where the breeze is evident and the water looking beautiful. (The full video is on my Facebook page.)

Best Beach Town is “Sanibel Island”

If you follow “Southern Living” magazine, you will see that their April 2021 issue features an island photo on the cover.

That is because their inside article says “Sanibel Island” is the best beach town!

Grab a copy to read about the South’s best beach towns, barbeque joints, bakeries, cities, parks, and other hidden gems.

Sanibel & Captiva Real Estate Scoop

Meanwhile, low interest rates are keeping bankers slammed, while title companies are swamped with closings, and prospective buyers continue to think we are nuts when we tell them that inventory is low – or that there is nothing in their price range that meets their requirements.

Looking at island inventory in general terms, there now are just 159 residential properties for sale on Sanibel and Captiva. That includes homes, condos, and lots. If you think that sounds like a lot, compare it to the 186 that are under contract awaiting closing, and the 185 that have already sold and closed this year. Those total 371 sales in less than three months. For the entire year, 583 Sanibel/Captiva properties sold last year, while in 2019, 400 sold.

It certainly does not take a crystal ball to figure out that by the end of this month or first quarter 2021, as many island properties will have sold as in all of 2019. Betcha there will be more records set before the year is out.

The two news articles below provide an economic and political spin on things. After those is the action posted in the Sanibel & Captiva Islands Multiple Listing Service since last Friday, followed by our “Island Sun” ad from today’s paper today. Happy spring!

The Brighter Path Ahead

Nice outlook posted in the March-April 2021 “Realtor®” magazine by NAR Chief Economist, Lawrence Yun:

“More inventory and better access to vaccines are welcome news.

“The 2020 pandemic-induced recession was unique in terms of the sudden and massive slashing of jobs. It was also the first recession during which overall income grew. No doubt there are families struggling paycheck to paycheck, but due to the massive stimulus packages – including the initial deposit of $1,200 and enhanced unemployment benefits – the financial condition of many families was better in a recession than before the pandemic.

“Total income for the country in late 2020 was 4% higher than a year earlier. This was the figure reported just before the second stimulus checks of $600 per person went out in late December. It also does not include wealth accumulation from the record-high stock market or rising home prices. Also not reflected in the totals are the proceeds from mortgage refinances last year or the relief expected from a new stimulus. Still consumers remain cautious, as spending opportunities have been restricted by COVID-19. For the year, consumer spending fell by 2%. And the savings rate consequently rose to twice the pre-pandemic levels.

“The situation translates into the potential for a great unleashing of spending in 2021. The positive impact will be increasingly felt as jobs come around. The full effect will be evident once herd immunity is established with the vaccine, likely in autumn. That is to say, 2021 is a growth year that will take us out of the recession.

“The housing market continues to shine brightly. The main frustration is for buyers who find themselves outbid during multiple offer situations. More inventory is needed to give buyers more options and lessen the heat.

“It’s encouraging to see that builders are ramping up production of homes with backyards, which are now at their highest level in 13 years. Activity has been particularly robust in Southern states where land is more plentiful and building regulations are less onerous.

“Moreover, with the wider availability of COVID-19 vaccines, homeowners, especially older Americans who have been more hesitant about strangers visiting their homes, now may be more ready to list. Many seniors own their homes outright and have sizable housing equity for the next home purchase. They may even need to buy a larger place to accommodate more family visitors. After all, in the new economy, remote-work flexibility may mean more days working from grandma’s house.”

Political Power Shift Could Generate Changes in the U.S. Luxury Housing Market

On the other hand, the below article by Michele Lerner and published on “Mansion Global”, was linked to the February 2021 issue of the RSPS (Resort & Second-Home Property Specialist) newsletter. It was prefaced with:

“Everything from capital gains tax policy to a more stable political environment will affect how affluent buyers view their wealth and appetite for home purchases.

“There’s a new political party in charge in Washington, D.C., one that hopes to make some big changes in the U.S. economy, including tax reform. While the initial priorities of the Biden administration and Congress focus on mitigating the devastating impact of the pandemic, the new political dynamic could eventually create a shift in the luxury housing market.

““The luxury market has done very well in recent years thanks to low mortgage rates and to the performance of the stock market, which is influenced by politics,” said Danielle Hale, chief economist for realtor.com in Washington, D.C.

““Political actions have both a direct and an indirect impact on the housing market. “We’ve never been at a time when the political landscape has continued to seem so uncertain,” said Frederick Peters, CEO of Warburg Realty in New York City. “Politics has an effect on the stock market, which in turn has an effect on the luxury real estate market.”

“While most of the Biden administration’s initial housing policies focus on the affordable housing crisis, Marco Rufo, a partner with The Agency real estate brokerage in Los Angeles, said that the possible extension of the federal eviction moratorium beyond the current date of March 31 could have implications for the higher end of the housing market in the future. “Most of our buyers are extremely wealthy and many of them own lots of property that they rent to tenants,” Mr. Rufo said. “If policies are put in place that reduce their ability to collect rent on multiple properties, that could have a negative impact on their net worth and willingness to upgrade into more expensive properties.”

“Another political issue that’s already had a major effect on luxury housing markets is tax reform. The Tax Cuts and Jobs Act that went into effect in 2018 has several provisions, such as lower tax rates, a higher lifetime estate and gift tax limit, and a higher standard deduction that are set to expire at the end of 2025. Democrats are anticipated to address those expiring provisions and other tax issues eventually.

““Most of the tax reform ideas impact people with incomes above $400,000 and capital gains of more than $1 million, the demographic that matches our homebuyers,” Mr. Rufo said. “If everything was enacted, it probably wouldn’t mean that people won’t buy homes, but it could mean that they pause a little to consider their options.”

“Some potential tax reforms include:

“Lifting SALT deduction limitations. The 2018 limitation on the deductibility of state and local taxes (SALT) to $10,000 was significant in markets like New York and California, said Mr. Peters, who anticipates a positive impact on those tax-heavy locales if that limit is lifted by Democratic tax reform efforts. “It’s not just a matter of money and getting a larger tax deduction, it’s also the perception,” he said. “It would make people feel less anxious about buying in states with higher taxes.” In the Washington, D.C. area, where the luxury market mostly centers on homes priced between $1.5 million and $2.5 million, the SALT deductibility cap slowed the pace of sales, reduced luxury listings and reduced home buyers’ budgets, said Jeff Detwiler, president and CEO of Long & Foster Real Estate in D.C. “We saw $2 million homes sit on the market for a year or longer,” he said. “Now we have only a two-month supply of luxury homes because of migration trends and a frothy market in 2020. If the SALT cap is lifted, we’d see even more demand because those deductions directly impact the finances of our buyers.” Migration trends after the SALT cap meant that more people left high-tax states to move to lower tax states like Florida and Texas. “If your SALT deductions aren’t limited, then you can be agnostic over where you live,” said Melissa Cohn, executive mortgage banker with William Raveis Mortgage in New York City.

“Higher income tax rates. Increasing income taxes always has a negative impact on the luxury market, Ms. Cohn said. However, she doesn’t expect tax rates to rise in the near future. “The pandemic changed everything, and the focus now is on rebuilding the economy. So even if the Democrats want to raise taxes eventually, now is not the time,” she said. An increase in tax rates for high earners probably won’t take buyers out of the market, said Mr. Detwiler, but it could reduce their price point by several hundred thousands dollars or more. “The good news about tax reform that would cause wealthier people to pay more is that it would be a federal issue that people can’t escape by moving to Florida,” Mr. Peters said.

“Higher capital gains tax rate. While home sellers can exclude up to $250,000 in profit if they’re single and up to $500,000 if they’re married from a capital gains tax on their primary residence, an increase in the long-term capital gains tax rate could still hurt the luxury housing market. Currently, the highest capital gains tax rate is 20%. “If the capital gains tax rate is increased, that could have negative repercussions,” Ms. Cohn said. “People wouldn’t want to sell their homes, especially if they hoped the rates would roll back again in the future, and that would limit the supply of homes.” Mr. Detwiler said he thinks a higher capital gains rate could have a bigger impact on the second-home market. Currently, the long-term capital gains tax rate depends on your income and is either 0%, 15% or 20%. Single taxpayers who earn $441,450 or more and married taxpayers who earn $496,600 pay the top rate. “Sellers have to pay capital gains taxes on the profit of the sale of a home that’s not their primary residence,” Mr. Detwiler said, “In addition, if people have to pay more taxes on other gains, that shrinks their portfolio and changes how much they’ll want to pay for a house.”

“Elimination of 1031 Exchange option. A 1031 Exchange allows investors to swap one property for another and postpone paying capital gains tax on the sale until you sell the next property. Without the 1031 Exchange, investors would have less money to put into their next deal, Ms. Cohn said. “Getting rid of the 1031 Exchange would have a direct impact in our area because we have a lot of luxury rentals at $40,000 to $50,000 a month in Los Angeles,” Mr. Rufo said. “Owners of these properties would pull back from buying and selling them if they had to pay capital gains on the transaction, and that would have a direct impact on property values.”

“Broader Impact of Politics on the Housing Market – Real estate market performance is tied to the fundamentals of supply and demand, which can also be influenced by political policies, realtor.com’s Ms. Hale said. (Mansion Global is owned by Dow Jones. Both Dow Jones and realtor.com are owned by News Corp.) “Demand is based on income and consumer confidence,” Ms. Hale said. “If wealthy households see their income go down due to a higher tax burden, it’s conceivable that their spending could decline and that would impact the housing market.”

However, a growing economy, especially one that drives stock gains, could mean after-tax incomes are higher for wealthy households, she said. “The way politics matters the most is how it makes people feel,” Mr. Peters said. “As real estate agents, we’re selling people a belief in their future. That’s a lot harder to do when people feel freaked out by the present. They’re less likely to take on large financial commitments when they’re concerned about the future.”

“Personally, Mr. Peters is optimistic about the impact of the new power configuration for his market in New York. “It’s not entirely irrelevant that the new Senate majority leader [Charles Schumer] is from New York,” he said.”

Sanibel & Captiva Islands Multiple Listing Service Activity March 12-19, 2021

Sanibel

CONDOS

2 new listings: Sundial #F206 1/1 $479K, Pointe Santo #E24 3/2 $1.495M.

1 price change: White Sands #13 2/2 now $949K.

6 new sales: Sanibel Arms West #A1 2/2 listed at $534K, Heron at The Sanctuary I #1B 3/3.5 listed at $872.7K, Pointe Santo #E3 2/2 listed at $889K, Sanibel Arms West #D6 2/2 listed at $955K, Pointe Santo #E2 2/2 listed at $964K, Somerset #D102 3/2.5 listed at $1.849M.

6 closed sales: Sandpebble #2D 2/2 $534K, Sandpebble #2B 2/2 $535K, Heron at The Sanctuary II #2A 3/2.5 $830K, Sundial #A301 2/2 $1.1M, Sanddollar #C101 2/2 $1.117M, Island Beach Club #220D 2/2 $1.34M.

HOMES

4 new listings: 3009 Singing Wind Dr 2/1.5 $657K, 1117 Captains Walk St 2/2 $857K, 6412 Pine Ave 3/2.5 $1.589M, 3385 Twin Lakes Ln 5/5 $1.695M.

3 price changes: 5100 Sea Bell Rd 4/2.5 now $869K, 1747 Jewel Box Dr 3/2 now $999K, 742 Sand Dollar Dr 3/3 now $1.599M

12 new sales: 2015 Wild Lime Dr 3/3 listed at $570K, 1606 Bunting Ln 3/2 listed at $649K, 2985 Island Inn Rd 2/2 listed at $649.5K, 3781 Coquina Dr 3/2 listed at $789K, 1657 Sabal Sands Rd 3/2 listed at $797.5K, 5424 Shearwater Dr 3/2.5 listed at $999K, 1890 Middle Gulf Dr 3/3 listed at $1.15M, 2464 Blind Pass Ct 3/2 listed at $1.2M, 2843 Wulfert Rd 4/5 listed at $1.295M, 2479 Harbour Ln 4/3 listed at $1.695M, 2964 Wulfert Rd 5/5.5 listed at $2.998M, 1253 Anhinga Ln 4/4 listed at $3.795M.

4 closed sales: 430 Old Trail Rd 3/2.5 $550K, 610 Hideaway Ct 3/2.5 $690K (our buyer), 2391 Shop Rd 3/2.5 $1.61M, 5618 Baltusrol Ct 4/4/2 $2.195M.

610 Hideaway Ct

LOTS

No new listings or price changes.

2 new sales: 1292 Par View Dr listed at $349.9K, 9056 Mockingbird Dr listed at $380K.

4 closed sales: 9436 Beverly Ln $200K, 0 Bunting Ln $225K, 717 Birdie View Pt $370K, 1837 Buckthorn Ln $460K.

Captiva

CONDOS

No new listings.

1 price change: Beach Cottages #1423 2/2 now $1.195M.

No new or closed sales.

HOMES

1 new listing: 11514 Andy Rosse Ln 5/5 $2.349M.

No price changes.

2 new sales: 18 Urchin Ct 2/2 listed at $1.15M, 16813 Captiva Dr 3/3 listed at $2.25M.

2 closed sales: 11520 Wightman Ln 3/2 $2.225M, 16500 Captiva Dr 6/6/2 $6M.

LOTS

Nothing to report.

Until next Friday, have a great week! Susan Andrews, aka SanibelSusan

Being on Sanibel & Captiva Is Lucky Enough! Happy Almost St. Patrick’s Day!

Posted on March 12, 2021 by SanibelSusan

It is another SanibelSusan report, with the days of “high season” flying by at what seems like record speed. Compared to last week, it was another one of terrific bright sunny weather, more traffic, busy bike paths, and lots of real estate activity. Next week is expected to be even busier with local schools out for spring break.

I got a call last night from an island owner begging for help in finding transportation next week. She said there is not a rental car to be had in all of Florida, no island golf carts or bikes available for rent, and airport shuttles full. Thought her only option was to change her flight to Atlanta, where there are vehicles available, and drive to Sanibel. Yikes, that is a long drive!

At SanibelSusan Realty

Here at the office, we got access Saturday to our new listing at Mariner Pointe which had teammate Lisa scurrying to get keys made so that the Realtors® with prospective buyers could get in over the weekend. That unit had a flurry of showings, multiple offers, and was under contract by noon Tuesday.

During the week as Dave, Elise, and I got action items accomplished with both listings and sales, Elise also got another 2,500-piece postcard mailing done. We hope those get our remaining listings sold and drum up some new ones.

Listings that are seasonal rentals, with heavy bookings, continue to get showing requests that cannot always be accommodated because of occupancy or Covid precautions. Midday Saturdays continues to be the best, sometimes only, time those have showing opportunities. Our report of the action posted since last Friday in the Sanibel & Captiva Multiple Listing Service follows a few news items.

First is a message that I borrowed from a Facebook posting Wednesday by Realtor® Mike McGraw who copied it from someone else. Mike is from the Orlando area and 2021 Vice President of Florida Realtors®. Though the message is a little blunt, it is interesting to read that real estate is “hot” in many areas. I have found the same to be true talking to clients and colleagues throughout the U.S. Except in major cities, the market is on fire in more rural and vacation-type areas. In Florida, the market is “hot” everywhere.

Here’s the borrowed post: “If you are a buyer in this market and you aren’t willing to pay over asking price & eliminate contingencies, please do yourself and your Realtor a favor and sit on the sideline for now. There is a market for you, it’s just not this one. It’s one with higher interest rates — which helps curb the amount of buyer competition we have right now. It’s like the Olympics of the housing industry. If you aren’t willing to go for gold, there’s no reason to compete. I showed a million-dollar home in Frisco last week. There were 130 showings in the first day. IN ONE DAY! 130 buyers vying for the same home & only one buyer can win!”

To put Sanibel and Captiva into this perspective. below is an update of inventory today, compared to sales last year. I know you are probably sick of seeing these statistics, but they really are mind blowing. Teammate Dave is out showing this afternoon, we both will be out showing tomorrow, and our listings have showings scheduled. Wish us luck!

SANIBEL

CAPTIVA

Condos

Homes

Lots

Avg Price

For sale

826,294

1,841,750

2,474,021

4,008,374

914,546

5,131,666

Under contract

886,578

1,177,285

1,392,648

2,898,933

588,931

N/A

Closed year-to-date

773,643

875,538

1,337,138

3,434,263

647,473

N/A

Sold in 2020

192

733,876

821,713

288

951,487

2,923,148

606,233

2,537,500

Note: In the groupings above, the 1^st line in each group provides Sanibel statistics, the 2^nd line Captiva. This representation is based on data supplied by the Sanibel & Captiva Islands Multiple Listing Service 3/12/2021.

Sanibel – COVID-19

The City declared State of Emergency, issued in response to COVID-19, has been extended by Mayor Mick Denham until March 16, 2021, unless further extended. Per State Statute, the maximum duration for a Mayoral Declaration of Emergency is seven (7) days and thus must be updated weekly so long as the emergency conditions are present.

Additionally, the City of Sanibel face covering mandate remains in effect through the duration of this time. Social distancing is encouraged, and group gatherings are to be avoided.

From Florida Department of Health, Sanibel’s total accumulative number of COVID-19 cases since March 26 through March 10 is 234 cases. That is five cases in seven days. PLEASE CONTINUE TO STAY VIGILANT.

Fannie, Freddie Tighten Rules for Condos in Vacation Locales

Dan Krispinsky with Lake Michigan Credit Union, who for years has been a local go-to lender for condotels, recently sent me the below “Wall Street Journal” article (January 9, 2021) which likely will affect those buyers needing financing. (FYI, a condotel is a condominium where units are individually owned but where there may be an on-site rental office where units are rented like a hotel. Several island non-residential complexes that allow short-term vacation rentals fall into that category.)

“Getting a mortgage for a resort-area condo might become more difficult after Fannie Mae and Freddie Mac moved to tighten rules on buildings with many short-term rentals and hotel-like amenities, some Realtors® and bankers say.

“Fannie Mae last month changed its rules to make it clearer that it won’t back certain loans in high-rent vacation areas, with Freddie Mac taking similar steps that go into effect next month….

“The updated rules, which went into effect Dec 7 for Fannie, are starting to generate pushback from Realtors® and bankers who say entire buildings could be ineligible for financing even if only some

units are rented out on short-term basis.

“They also fault the process Fannie uses to determine the eligibility of a building, saying it is opaque and can’t be disputed by a building’s owners or its home-owners association.

“”We’re concerned that access to credit could be limited for whole projects or condo buildings, which could affect not just second-home buyers but some primary homebuyers across the country,” said Ken Fears, a senior policy adviser at the National Association of Realtors®.

“Fannie says its revamped rules are meant to clarify longstanding policies, which revolve around the eligibility of the entire condo project, not particular units. The focus is also more on “condotel” buildings organized centrally through management, rental, and realty companies than on individuals who offer their units on Airbnb or other hosting services….

“When a project as a whole functions more like a vacation rental resort, the building is ineligible for Fannie financing, and mortgages secured by units in that project are also ineligible, the company says.

“Fannie Mae’s charter is for residential lending,” the company spokesman said. “We provided clarity to lenders regarding what are acceptable residential condominium projects and what meets Fannie Mae Residential lending standards and practices.”

“Bankers say the tighter requirements are beginning to limit the number of lenders for second-home condos, driving up interest rates on new loans and limiting the availability of 30-year mortgages on such units. Bankers fear Fannie and Freddie may no longer buy loans on certain condos or force lenders to buy back mortgages on ineligible buildings.

“”Until there is more clarity from agencies, all mortgage bankers are shutting off the valve on condo loans right now,” said Rob Henger, director of mortgage banking at FirstBank Mortgage, a Nashville, Tenn-based bank.

“Fannie and Freddie don’t make loans. Instead, they buy mortgages and package them into securities that are sold to investors. The companies’ promise to make investors whole in case of default keeps down that price of home loans and underpins the popular 30-year fixed-rate mortgage.

“Together, the companies backstop about half of the $11 trillion U.S. mortgage market. Condos make up between 7% and 10% of their business, according to the Federal Housing Finance Agency, the firms’ federal regulator. It was unclear how many condos are located in beach towns and other resort areas affected by the tightened rules….”

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

Sanibel

CONDOS

4 new listings: Mariner Pointe #122 1/1 $485K, Blind Pass #G104 3/2 $699K, Compass Point #102 2/2 $1.375M, Somerset #D102 3/2.5 $1.849M.

1 price change: Pointe Santo #E26 2/2 now $1.269M.

8 new sales: Sanibel Moorings #1512 2/2 listed at $525K; Sanibel Arms West #J3 2/2 listed at $569K; Kimball Lodge #302 1/1 listed at $574K; Sanibel Moorings #842 2/2 listed at $619K; Mariner Pointe #112 2/2 listed at $699K (our listing, see slideshow below); Sanibel Surfside #234 2/2 listed at $819K; Tarpon Beach #206 2/2 listed at $998,899; Wedgewood #202 listed at $2.595M.

This slideshow requires JavaScript.

8 closed sales: Mariner Pointe #1043 2/2 $472.5K, Sundial #J102 1/1 $499K, Sanibel Arms West #A3 2/2 $520K, Pointe Santo #B5 2/2 $670K, Kings Crown #110 2/2 $765K, Pointe Santo #D35 2/2 $775K, Surfside 12 #A4 3/2 $830K, Pointe Santo #A31 2/2 $917K.

HOMES

5 new listings: 2015 Wild Lime Dr 3/3 $570K, 1717 Atlanta Plaza Dr 2/2 $599K, 3781 Coquina Dr 3/2 $789K, 2480 Library Way 3/2.5 $829K, 2311 Starfish Ln 4/4 $1.995M.

5 price changes: 1695 Serenity Ln 3/2 now $669K, 2464 Blind Pass Ct 3/2 now $1.2M, 837 Sand Dollar Dr 3/3.5 now $1.895M, 848 Birdie View Pt 4/3.5 now $2.095M, 950 Victoria way 4/4 now $2.25M.

4 new sales: 1612 Serenity Ln 3/2 listed at $674.5K; 1965 Roseate Ln 3/2 listed at $739,55; 1560 Royal Poinciana Dr 3/2 listed at $899K; 4701 Rue Belle Mer 4/5 listed at $3.395M.

6 closed sales: 984 Sand Castle Rd 3/3 half-duplex $505K; 6041 Sanibel-Captiva Rd 2/1 $750K; 9277 Belding Dr 3/3 $830K; 3019 Poinciana Cir 5/3.5 $1,180,718; 519 Kinzie Island Ct 4/3.5 $1.95M; 488 Lighthouse Way 4/4 $3.445M.

LOTS

4 new listings: 2348 Wulfert Rd $329K, 5687 Baltusrol Ct $399K, 809 Pyrula Ave $424.9K, 1321 Seaspray Ln $899K.

No price changes.

2 new sales: 247 & 255 Robinwood Cir listed at $279K, 6008 White Heron Ln listed at $819K.

3 closed sales: 2372 Wulfert Rd $130K, 2933 Wulfert Rd $335K, 1825 Long Point Ln $362.5K.

Captiva

CONDOS

No new listings or price changes.

2 new sales: Gulf Beach Villas #2127 2/2 listed at $900K, Captiva Shores #1B 3/2.5 listed at $1.799M.

No closed sales.

HOMES

No new listings or price changes.

2 new sales: 15146 Wiles Dr 2/2 listed at $2.389M, 1105 Tallow Tree Ct 3/3 listed at $2.45M.

2 closed sales: 16163 Captiva Dr 3/2 $2,004,202; 16189 Captiva Dr 6/4 $3.3M.

LOTS

Nothing to report.

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

Until next Friday, Susan Andrews, aka SanibelSusan

With 30 Sales & Only 12 New Listings This Week, Sanibel/Captiva Inventory is Disappearing

Posted on March 5, 2021 by SanibelSusan

It is Susan again reporting another beautiful Friday on sunny Sanibel. The weathermen keep saying that cold fronts are passing through but those seem to just bring extra breeze and lower humidity. Daytime temperatures have still been reaching into at least the 70’s, though latest forecasts say a rare dry-season shower is expected tomorrow afternoon. That’s perfectly AOK, we need it.

At SanibelSusan Realty

It was another good week in the office, with a new listing, another in the works, another listing under contract, plus another sight-unseen sale (with this one, I have not seen the property nor have the buyers). Teammate Dave accompanied a home inspection, while Elise followed up on a handful of positive showings at a listing that has been booked for weeks with a long-term tenant. We all had a hand in various action items completed with the six closings in our hopper. These “high season” weeks are flying by, we can hardly believe it is already Friday and March.

I will be out showing property again tomorrow during that short showing window between when one guest checks out and the next checks in.

Though still not having our in-person Thursday morning meetings where we announce new listings, price reductions, and sales, the Sanibel & Captiva Islands Association of Realtors® had another Zoom Caravan meeting yesterday. After the meeting there were no properties open for Caravan as it was announced (with a smile) that the properties that were scheduled have already gone under contract. The hot market continues.

The activity since last Friday in the Sanibel & Captiva Islands Multiple Listing Service follows a couple of news items below. The number of new sales continues to be double or triple the number of new listings. Talking with colleagues, we commiserate about having buyers waiting in the wings with no properties that match their requirements. Could be time for those buyers to relax their criteria. Some think things will change post-pandemic and more listings will become available. I bet prices continue to rise.

Sanibel – COVID-19

The City declared State of Emergency, issued in response to COVID-19, has been extended by Mayor Mick Denham until March 9, 2021, unless further extended. Per State Statute, the maximum duration for a Mayoral Declaration of Emergency is seven (7) days and thus must be updated weekly so long as the emergency conditions are present.

(On a side note, congratulations to Mayor Denham who will soon be enjoying retirement. He has served Sanibel for 16 years, on City Council, including as Vice Mayor & Mayor. Mick did not seek reelection when his term expired this month. There will be three new faces on City Council at their next meeting March 16. That is when newly-elected Councilors Dr Scott Crater, John Henshaw, and Mike Miller will take their oaths and a new mayor and vice mayor will be selected by the council at large. Thanks also go out to former councilors Chauncey Goss & Jerry Muench who stepped up to temporarily fill two vacant council seats from November to March – more proof that Sanibel’s volunteer community is 2^nd to none. Thanks to the many volunteers that make Sanibel so special!)

Additionally, the City of Sanibel face covering mandate is reaffirmed to be consistent with the Governor’s Order 20-244 and shall remain in force and effect through the duration of the 7-day state of local emergency. Social distancing encouraged and group gatherings are to be avoided.

From Florida Department of Health, Sanibel’s total accumulative number of COVID-19 cases since March 26 through March 3 is 229 cases. That is only one more than last week. Though case numbers are going down, PLEASE CONTINUE TO STAY VIGILANT.

Sanibel Happenings

84^th Annual Shell Festival runs though tomorrow at The Community House (today until 3 p.m. and tomorrow March 6 from 9 a.m. to 2 p.m.), while the 2021 Virtual Sanibel Shell Show is premiering on YouTube today and tomorrow (March 5 & 6 from noon until 3 p.m.). For more info, visit https://sanibelshellclub.com/virtual-2021-sanibel-shell-show/.

Zonta On-Line Art Auction this year replaces their annual Peek of the Unique. The auction runs through March 10 with full catalog at www.ZontaSanCap.org. Also, as part of this year’s event, antique experts will provide appraisals on March 13 from 1 a.m. to 4 p.m. at the Blue Giraffe at Beachview Estates. For a $100 donation, a 15-minute session for up to three items will be provided. To make an appraisal reservation, go to https://zontasancap.org/fundraising. All proceeds are awarded in grants to non-profits in Lee County.

Florida Realtors 2021 Legislative Agenda

FYI, from the March 2021 issue of “FloridaRealtor®”: “When Florida lawmakers convene on March 2 for the 2021 legislative session, they face a multi-billion-dollar budget shortfall created by the pandemic. Although the budget gap will be a top priority for legislators, they will consider several bills that could help the real estate industry and property owners. At press time, Florida Realtors® identified six legislative priorities for the 2021 session:

“Liability Protection – Florida Realtors® advocates for protections for businesses against frivolous lawsuits resulting from the pandemic.

“Property Insurance – Increased insurance costs and lower levels of coverage are making the cost of homeownership unaffordable in many areas of the state. These rising prices are being driven by a combination of frequent hurricanes, natural catastrophes in other parts of the country or world, higher reinsurance rates and increased litigation costs for insurance companies. Florida Realtors® supports sensible legislation that reduces occurrences of unnecessary litigation while protecting the rights of property owners to challenge insurance claims.

“Affordable Housing – The pandemic has escalated the housing crisis. Florida Realtors® will ask for full funding from the trust funds for home buying and rental assistance programs.

“The Environment – Though the super-active 2020 hurricane season spared most of Florida, rising sea levels remain a problem for many coastal communities. Realtors® will be working with legislators to address this problem and will see state funding for Everglades restoration and other critical environmental projects.

“Protect Property Rights – Realtors® will continue to champion legislation that creates a statewide, uniform system of regulations for vacation rentals.

“Business Rent Tax – The 2019 Legislature passed the third consecutive rate cut to the tax on commercial leases, which now stands at 5.5%. Florida Realtors® will advocate for further reduction of the tax to provide businesses with some measure of relief as they work to stay open and eventually recover from the pandemic.”

Sanibel & Captiva Islands Multiple Listing Service Activity February 26-March 5, 2021

Sanibel

CONDOS

5 new listings: Sanibel Moorings #842 2/2 $619K, Loggerhead Cay #351 2/2 $659K, Mariner Pointe #112 2/2 $699K (our listing), Heron at The Sanctuary I #1B 3/3.5 $872.7K, Pointe Santo #C43 3/2 $1.199M (our listing).

View from Mariner Pointe #112 (from 2007)

View from Pointe Santo #C43 roof-top deck

No price changes.

9 new sales: Sandalfoot #3B3 1/1 listed at $524K (our listing); Mariner Pointe #731 2/2 listed at $525K; Sanibel Arms West #I4 2/2 listed at $579K; Sand Pointe #216 2/2 listed at $799,997 (our buyer); Heron at The Sanctuary II #2A 3/2.5 listed at $849K; Sanddollar #C101 2/2 listed at $999K, Pelicans Roost #203 2/2 listed at $895K; Sanddollar #A101 2/2 listed at $1.15M; Seascape #106 3/3 listed at $2.55M.

11 closed sales: Sanibel Arms #2E 1/1 $370K, Spanish Cay #B2 2/2 $440K, Sanibel Moorings #441 2/2 $555K, Sanibel Arms West #H6 2/2 562K, Sandalfoot #3C3 2/2 $698K, Loggerhead Cay #192 2/2 $700K, Lighthouse Point #221 3/2 $712K, Sandpiper Beach #401 2/2 $750K, Sandpiper Beach #205 2/2 $780K, Sanddollar #B104 2/2 $955K, Somerset #E201 3/2.5 $1.85M.

HOMES

5 new listings: 1612 Serenity Ln 3/2 $674.5K, 5424 Shearwater Dr 3/2.5 $999K, 557 N. Yachtsman Dr 4/3 $1.199M, 1044 Whisperwood Way 4/4.5 $1.995M, 1077 Bird Ln 4/5/2 $5.95M.

4 price changes: 1657 Sabal Sands Dr 3/2 now $797.5K, 694 Heather Ln 3/3.5 now $1.4M, 940 Whelk Dr 3/2 now $1.495M, 5270 Indian Ct 6/6.5 now $2.495M.

15 new sales: 1940 Periwinkle Way 3/2 half-duplex listed at $569K; 1667 Sabal Sands Rd 3/3 listed at $749.9K; 1259 Par View Dr 3/4 listed at $1.175M; 4500 Waters Edge Ln 2/2 listed at $1.175M; 486 Surf Sound Ct 3/3.5 listed at $1.2M; 994 Whelk Dr 3/2 listed at $1.395M; 2355 Wulfert Rd 3/3.5 listed at $1.649M; 1323 Seaspray Ln 4/4.5 listed at $1.75M; 1283 Isabel Dr 3/2 listed at $1.895M; 1355 Eagle Run Dr 4/4.5 listed at $1.975M; 513 Lighthouse Way 3/3 listed at $1.99M; 528 Kinzie Island Ct 4/4 listed at $1.995M; 1266 Isabel Dr 3/3 listed at $2.895M; 550 Lighthouse Way 4/4.5 listed at $2,999,999; 4955 Joewood Dr 6/4.5 listed at $3.395M.

8 closed sales: 1415 Sandpiper Cir 2/2 half-duplex $448K, 1027 Sand Castle Rd 2/2 $475K, 223 Southwinds Dr 3/2 $699K, 1076 Sand Castle Rd 2/2 $750K, 3935 Coquina Dr 4/3 $810K, 1308 Eagle Run Dr 4/4 $1.475M, 4166 Dingman Dr 4/4 $2.1M, 2336 Starfish Ln 3/2.5 $2.1M.

LOTS

1 new listing: 0 Rue Bayou $729,555.

1 price change: 6000 White Heron Ln now $850K.

No new sales.

1 closed sale: 355 Cowry Ct $225K.

Captiva

CONDOS

1 new listing: Gulf Beach Villas #2024 3/3 $1.075M.

1 price change: Lands End Village #1629 2/2 now $1.3745M.

3 new sales: Tennis Villas #3118 1/1 listed at $350K, Bayside Villas #4322 3/3 listed at $729K, Captiva Cove #2A 3/2 listed at $1.295M.

3 closed sales: Tennis Villas #3136 1/1 $335K, Bayside Villas #4116 1/2 $372.5K, Marina Villas #808 2/2 $755.5K.

HOMES

No new listings or price changes.

3 new sales: 15000 Binder Dr 3/2 listed at $1.298M, 16447 Captiva Dr 7/6/2 listed at $2.79M, 11541 Paige Ct 3/4/2 listed at $4M.

2 closed sales: 11522 Andy Rosse Ln 4/4.5 $2.4M, 956 South Seas Plantation Rd 6/6 $4.475M.

LOTS

Nothing to report.

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

Enjoy your weekend!

Susan Andrews, aka SanibelSusan

Perfect Weather, While Island Real Estate is Hot

Posted on February 26, 2021 by SanibelSusan

It is another happy Friday at SanibelSusan Realty. Island weather remains “winter fantastic” with this week and the forecast for the next 10 days expected to be much the same – nighttime lows in the 60’s, days in the high 70’s/low 80’s with plenty of sunshine and blue skies.

The Island Real Estate World

The real estate market remains hot and we are down to just two listings – both getting action. That activity plus the postings since last Friday in the Sanibel & Captiva Islands Multiple Listing Service follow a couple of news items below.

Though no Association of Realtors® Caravan Meeting this week, brisk sales continue. It certainly is unusual to report new sales of 15 condos, 14 homes, and five lots in just seven days.

Inventory is so low now that we are getting calls from colleagues asking about the likelihood of properties coming on the market, that are owned by clients who worked with us when they purchased. I wish we could say some of those were becoming available. It certainly is a great time to be a seller.

Here is the scoop with Sanibel inventory from the Sanibel & Captiva Islands Multiple Listing Service as of this afternoon (3:30 p.m. on Feb 26, 2021):

Homes: 53 for sale, 74 under contract, 57 sold/closed year-to-date.
Condos: 60 for sale, 63 under contract, 36 sold/closed year-to-date.
Lots: 27 for sale, 27 under contract, 15 sold/closed year-to-date.

Captiva also is hot:

Homes: 21 for sale, 15 under contract, 7 sold/closed year-to-date.
Condos: 13 for sale, 12 under contract, 10 sold/closed year-to-date.

Sanibel – COVID-19

The City declared State of Emergency, issued in response to COVID-19, has been extended by Mayor Mick Denham until March 2, 2021, unless further extended. Per State Statute, the maximum duration for a Mayoral Declaration of Emergency is seven (7) days and thus must be updated weekly so long as the emergency conditions are present.

From Florida Department of Health, Sanibel’s total accumulative number of COVID-19 cases since March 26 through February 24 is 228 cases. This is the number of cases for zip code residents. It does not include Captiva and the many workers and visitors that come and go. Though the number of island cases finally seems to be decreasing, PLEASE CONTINUE TO STAY VIGILANT.

Sanibel& Captiva Islands Multiple Listing Service Activity February 19-26, 2021

Sanibel

CONDOS

4 new listings: Sanibel Arms West #H4 2/2 $559K, Sand Pointe #216 2/2 $798,957, Pointe Santo #E3 2/2 $889K, Compass Point #151 3/3 $1.495M.

2 price changes: Sandalfoot #3B3 1/1 now $524K (our listing), Heron at The Sanctuary II #2A 3/2.5 now $849K.

View from Sandalfoot #3B3

13 new sales: Spanish Cay #F2 1/1 listed at $325K, Tennisplace #C26 2/1.5 listed at $355K, Sundial #H107 1/1 listed at $455K, Mariner Pointe #733 2/2 listed at $525K, Sandalfoot #3C1 2/2 listed at $639.9K, Loggerhead Cay #373 2/2 listed at $662.5K, Pointe Santo #B26 2/2 listed at $689K, Mariner Pointe #241 2/2.5 listed at $690K, Sunset South #10 2/2 listed at $710K, Pelicans Roost #106 2/2 listed at $929K, Pelicans Roost #102 2/2 listed at $930K, Beachcomber #D101 2/2 listed at $999.5K, Sandals #A 3/3.5 listed at $1.825M.

9 closed sales: Mariner Pointe #1019 2/2 $550K, Pointe Santo #B3 2/2 $650K, Loggerhead Cay #542 2/2 $675K, Sandpiper Beach #303 2/2 $800K, Cyprina Beach #7 2/2.5 $800K, Yacht Haven #4 3/2 $920K, Sundial #L205 3/2 $1.39M, Kings Crown #302 2/2 $1.4M, Sandpiper West #1 3/3 $2.05M.

HOMES

8 new listings: 1695 Serenity Ln 3/2 $699K, 1667 Sabal Sands Rd 3/3 $749.9K, 1983 My Tern Ct 3/2.5 $1.178M, 249 Violet Dr 4/2 $1.2M, 486 Surf Sound Ct 3/3.5 $1.2M, 1355 Eagle Run Dr 4/4.5 $1.975M, 848 Birdie View Pt 4/3.5 $2.195M, 544 Lighthouse Way 4/5.5 $4.495M.

5 price changes: 2441 Shop Rd 4/3.5 now $949K, 2355 Wulfert Rd 3/3.5 now $1.649M, 1323 Seaspray Ln 4/4.5 now $1.75M, 6418 Pine Ave 3/3 now $1.789M, 1761 Venus Dr 4/3.5 now $1.995M.

12 new sales: 976 Greenwood Ct 3/2.5 half-duplex listed at $515K, 5303 Umbrella Pool Rd 3/2.5 listed at $689.9K, 4397 Gulf Pines Dr 3/3 listed at $725K, 458 Casa Ybel Rd 3/2.5 listed at $749K, 445 Lake Murex 3/2 listed at $839K, 1045 Blue Heron Dr 2/2.5 listed at $889K, 1421 Sand Castle Rd 3/2 listed at $949K, 3960 W Gulf Dr 3/5 listed at $1.079M, 542 N. Yachtsman Dr 3/2 listed at $1.229M, 490 Sawgrass Pl 3/2.5 listed at $1.435M, 1480 Middle Gulf Dr 4/4/2 listed at $1.65M, 4664 Rue Belle Mer 5/5 listed at $1.896M.

12 closed sales: 315 E Gulf Dr 3/2 half-duplex $549K, 1653 Bunting Ln 3/2.5 $645K, 1012/1014 East Gulf Dr 4/2 duplex $699K, 9421 Moonlight Dr 3/2 $755K, 3751 Coquina Dr 3/2 $795K, 1752 Jewel Box 2/2 $815K, 2001/2003 Mitzi Ln 6/6 duplex $820K, 705 Oliva St 3/2 $875K, 1671 Hibiscus Dr 3/2 $889K, 9426 Sage Ct 3/3 $945K, 709 Pyrula Ave 3/3 $1.125M, 1238 Isabel Dr 4/4.5 $3.325M (our listing).

LOTS

No new listings.

2 price changes: 3013 Poinciana Cir now $259.9K, 2438 Wulfert Rd now $339K.

5 new sales: 1303 Par View Dr listed at $310K, 575 Sea Oats Dr listed at $385K, 717 Birdie View Pt listed at $399K, 539 Sea Oats Dr listed at $420K, 3324 Saint Kilda Rd listed at $449K.

7 closed sales: 2515 Wulfert Rd $220K, 6095 Dinkins Lake Rd $255.5K, 1340 Eagle Run Dr $295K, 602 Boulder Dr $405K, 217 Violet Dr $545K, 1159 Golden Olive Ct $1.5M, 1246 Seagrape Ln $2.575M.

Captiva

CONDOS

No new listings.

1 price change: Seabreeze #1251 3/3 now $2.15M.

2 new sales: Bayside Villas #4118 1/2 listed at $425K, Captiva Shores #7B 3/2.5 listed at $1.399M.

5 closed sales: Tennis Villas #3114 1/1 $325K, Bayside Villas #5244 1/2 $399K, Beach Villas #2112 1/1 $485K, Beach Villas #2314 2/2 $750K, Lands End Village #1615 2/2 $1.425M.

HOMES

No new listings.

1 price change: 15261 Captiva Dr 4/4.5 now $11.995M.

1 new sale: 11544 Wightman Ln 4/4.5 listed at $2.25M.

No closed sales.

LOTS

Nothing to report.

Below is our ad from today’s “Island Sun”. Enjoy your weekend, Susan Andrews, aka SanibelSusan

Valentine’s & President’s Day Weekend on Sanibel

Posted on February 12, 2021 by SanibelSusan

SanibelSusan here reporting that island weather this week again has been terrific with daytime temperatures in the 70’s, sometimes 80’s, with plenty of blue skies and sunshine. As the week progressed, teammates doing the on-/off-island commute saw a noticeable increase in traffic as incoming Valentine’s Day vacationers, week-enders, and Presidents’ Day holiday visitors began arriving. Traffic probably will be up next week too.

At SanibelSusan Realty

The local association of Realtors® had no meeting this week, but there still was plenty of island sales action reported again, even as the market responds to lack of inventory.

Tuesday, I showed a new-to-market $2M gulf-front residential condo. It already had received four offers in just a few hours. It is difficult to convince a prospect that they are not overpaying when they are in “no hurry” to purchase. When we hear that and they say, “we can wait for the next one to come along”, that could be a long time in today’s environment. That seller purchased in 1980. It is doubtful that anyone wants to wait 40 years to make their island dream come true, but one thing that is for sure in this real estate business – surprises happen every day with both buyers and sellers.

Within the same 24-hour period, I got texts from two agents working with buyers who had viewed one of our listings that recently went under contract. The texts said their clients were sorry that they had not made an offer(s). They wanted to know if the sale is “solid”. Then I got a call from an off-island broker asking about the same property. Where were these buyers during the last year+ that this property was listed for sale?

Of course, until a sale goes “pending” (meaning with no contract contingencies), we welcome back-up contracts. I have never had a buyer in 2^nd position turn into the successful purchaser, but there is always a first time. We keep advertising our listings every week until every contingency in a contract is met. Once that occurs, the MLS listing status changes from “contingent” to “pending”.

Inventory continues to dwindle, as The SanibelSusan Team and our colleagues search for properties that match prospects requirements. It was a shock yesterday to tell a buyer, that there now are only nine Sanibel homes for sale priced under $1M. (Only 54 available in total, 69 under contract, 37 sold/closed year-to-date, compared to 288 sold last year.)

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

Bike, Walk, or Drive FREE on President’s Day

In honor of President’s Day, Monday, February 15, Wildlife Drive at the J.N. “Ding” Darling Wildlife Refuge will be fee-free all day from 7 a.m. to 5:30 p.m. to vehicles, cyclists, and pedestrians. For this national holiday, the Visitors and Education Center will be closed, but all other facilities including the America’s Best Restroom, Tarpon Bay Explorers rentals and tours, Bailey Tract, and all trails will remain open.

Average Long-Term Mortgage Rates Unchanged for 3^rd Week

Most island sales continue to be “cash”, but mortgage rates remain great for those looking for financing. The 30-year fixed-rate for a home averaged 2.73% this week, as it has for the last two weeks. These near-record lows compare to the 3.47% rate last year. The pandemic resulted in suppressed mortgage rates through most of 2020. As the economy recovers, economists forecast only modest increases in loan rates this year. It continues to be a great time to buy for those seeking a mortgage.

3 Major Home Insurance Mistakes to Avoid

Following up on the insurance theme where last week flood insurance was discussed, below is the article posted online February 8, 2021 at FloridaRealtors®. It was written by Kathryn Pomroy, 2021 Local TV LLC.

“Homeowners trying to cut costs often focus on property insurance and cutting back will save money. But if something happens, they’ll regret it.

“NEW YORK – Due to COVID-19, unemployment has become one of the most critical economic issues facing the country. As a homeowner, you may be trying to find ways to save money. Revisiting your home insurance policy to make sure you’re getting the best deal and that your home is properly covered makes good sense.

“Avoid these 3 home insurance mistakes Your home is your largest financial investment. Yet it is vulnerable if left unprotected from theft and vandalism, fire, a natural disaster, injuries suffered while on the property, or some other mishap. Many people think things like this will never happen – until it does. That’s why it’s important to explore your home insurance options and avoid these three main home insurance mistakes.

Not having enough insurance coverage
Not having the appropriate coverage in advance
Not having natural disaster insurance.

“Not having enough insurance coverage. Underinsuring your home can be a costly mistake. Many homeowners only have enough coverage to cover their mortgage. But if your mortgage or the equity in your home is only worth 75% of your home’s value, you may only receive that amount if it’s destroyed. That may not cover rebuilding.

“Likewise, you may have a policy that only covers the current value of your home. But your home’s current value may not cover the actual cost to rebuild at today’s prices. That’s why it’s important to know what it will cost to rebuild and get coverage close to that amount. This is also true concerning your personal belongings.

“Comparing multiple insurance quotes can potentially save you hundreds of dollars per year. Generally, there are two types of coverage-replacement cost and actual cash value.

“Replacement cost value. Unlike actual cash value insurance, when a tragedy happens, replacement cost insurance will replace your belongings at their current value. For instance, if a fire damages your computer, and the cost to replace it today is $1,200, you are paid $1,200, even though you may have paid $1,000 two years ago.
“Actual cash value. Actual cash value insurance will reimburse you for the cash value of your personal belongings. However, your belongings are not worth as much as they were when you bought them because of depreciation, so you are paid the actual cash value at the time the tragedy occurs, not what you paid for them.

“Not having the appropriate coverage in advance. “Unfortunately, it’s not uncommon to discover that your homeowner’s insurance policy doesn’t cover natural disasters, or only part of the damage is covered. Worse yet, the type of damage you suffer is excluded from your policy.

“Most standard policies have hazard coverage, which covers the physical loss and damage to your property and possessions, and liability courage, which covers injuries to people while on your property, like slipping on your front steps. According to the Insurance Information Institute, standard coverage may also include damage from:

Explosions
Riots and civil unrest, vandalism, and malicious mischief
Theft and vandalism
Volcanos
Windstorms and hail
Damage from an aircraft or vehicle
Fire and smoke damage
Falling objects
Lightning strikes
In-home water damage (from within the home only)
Snow, ice storms and sleet.

“You may also want to cover personal possessions like expensive jewelry, musical instruments, cameras, or electronics that may be stolen or damaged. Or coverage for living outside your home while it’s being rebuilt. If someone slips on your front steps, you’ll want to have enough coverage to pay their medical bills.

“Having enough insurance is vital. Having the appropriate insurance coverage is just as important. To ensure your insurance is suitable for your circumstances, visit Credible to check out plans, providers, and costs.

“Not having natural disaster insurance. Depending on where you live, you may need flood, earthquake, or region-specific insurance to ensure you have adequate home insurance in the case of a natural disaster. These coverages are not generally standard with most homeowners insurance policies.

“Flood insurance is a federal program that accepts everyone who needs coverage, so it’s not hard to get. If you live in earthquake-prone areas, your insurance carrier may also require earthquake coverage to qualify for a mortgage.

“Extra flood and earthquake insurance can cost from about $70 to $250 per month on top of your homeowner’s policy, depending on the value of your home and location, according to FEMA.

“If you’re searching for a new policy, renewing your current policy, or investigating your options as a new homeowner, you may also want to consider if you want coverage not typically standard on most homeowners’ policies. Add-ons to your policy may cover things like termites or other pests, mold, sewer backups, or damage due to lack of maintenance on the residence….”

Sanibel – COVID-19

The City declared State of Emergency, issued in response to COVID-19, has been extended by Mayor Mick Denham until February 16, 2021, unless further extended. Per State Statute, the maximum duration for a Mayoral Declaration of Emergency is seven (7) days and thus must be updated weekly as long as the emergency conditions are present.

From Florida Department of Health, Sanibel’s total accumulative number of COVID-19 cases since March 26 through February 10 is 223 cases. This is the number of cases for zip code residents. It does not include Captiva and the many workers and visitors that come and go.

Timing for number of cases reported included 134 cases last year (with 50 being in December). January was the highest month with 69 cases. The first ten days in February, 20 cases were reported. PLEASE CONTINUE TO STAY VIGILANT.

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

Sanibel

CONDOS

4 new listings: Captains Walk #B5 2/1 $392K, Pointe Santo #E2 2/2 $964K, Pointe Santo #E26 2/2 $1.299M, Gulfside Place #301 3/3 $1.95M.

2 price changes: Sanibel Arms #C5 2/2 now $450K, Pointe Santo #C23 3/2 now $995K.

13 new sales: Spanish Cay #B2 2/2 listed at $469.5K; Sundial #J102 1/1 listed at $499K; Loggerhead Cay #223 2/2 listed at $594.5K; Loggerhead Cay #274 2/2 listed at $669K; Sandalfoot #3C3 2/2 listed at $698K; Sand Pointe #217 2/2 listed at $795,555; Sandpiper Beach #105 2/2 listed at $825K; Yacht Haven #4 3/2 listed at $895K; Pointe Santo #A31 2/2 listed at $949K; Pointe Santo #C25 3/2 listed at $1.125M, White Pelican #111 2/2 listed at $1.2999M, Pine Cove #202 3/2 listed at $1.395M, Royale Tern #204 3/3.5 listed at $2.495M.

5 closed sales: Sundial #F205 1/1 $400K, Sandalfoot #4B2 1/1 $475K, Heron at The Sanctuary #2B 3/3.5 $749.9K, Pointe Santo #E23 2/2 $830K, Sanctuary Golf Villages I #4-1 3/3 $899K.

HOMES

3 new listings: 694 Heather Ln 3/3.5 $1.475M, 2355 Wulfert Rd 3/3.5 $1.798M, 4664 Rue Belle Mer 5/5 $1.896M.

3 price changes: 1035 S. Yachtsman Dr 5/4.5 now $999K, 1890 Middle Gulf Dr 3/3 now $1.15M, 5439 Osprey Ct 4/3 now $1.644M.

15 new sales: 1415 Sandpiper Cir 2/2 half-duplex listed at $459K, 984 Sand Castle Rd 3/3 half-duplex listed at $499K, 2010 Wild Lime Dr 4/4 listed at $759K, 1052 Fish Crow Rd 3/2 listed at $799K, 3570 Bunny Ln 3/3 listed at $869K, 6041 Sanibel-Captiva Rd 2/1 listed at $949K, 1312 Sand Castle Rd 3/2 listed at $979K, 1158 Harbour Cottage Ct 3/2.5 half-duplex listed at $1.095M, 1259 Par View Dr 3/4 listed at $1.175M, 1147 Buttonwood Ln 3/2 listed at $1.335M, 751 Windlass Way 5/5 listed at $1.595M, 2391 Shop Rd 3/2.5 listed at $1.695M, 488 Lighthouse Way 4/4 listed at $3.695M, 4961 Joewood Dr 4/4 listed at $5.2M, 4323 West Gulf Dr 6/6 listed at $7.995M.

8 closed sales: 1030 Kings Crown Dr 2/2 $820K; 4180 West Gulf Dr 2/2 $845K; 761 Nerita St 3/2 $853,870; 5757 Pine Tree Dr 3/2.5 $915K; 1155 Sand Castle Rd 3/2 $922K; 201 Violet Dr 3/2 $1M; 829 Pyrula Ave 3/3 $1.175M; 2564 Wulfert Rd 4/5.5 $1.785M.

LOTS

3 new listings: 2310 Wulfert Rd 299K, 217 Violet Dr $549K, 3304 Saint Kilda Rd $599K.

1 price change: 3308 Saint Kilda Rd now $469,555.

5 new sales: 1340 Eagle Run Dr listed at $315K, 2933 Wulfert Rd listed at $349K, 5821 Pine Tree Dr listed at $439K, 1872 Middle Gulf Dr listed at $495K, 1874 Middle Gulf Dr listed at $979K.

1 closed sale: 836 Limpet Dr $1.26M.

Captiva

CONDOS

1 new listing: Marina Villas #708 2/2 $765K.

No price changes.

3 new sales: Tennis Villas #3212 1/1 $320K; Bayside Villas #5118 1/2 listed at $399,999; Beach Homes #18 4/3 listed at $3.375M.

1 closed sale: Marina Villas #703 2/2 $750K.

HOMES

No new listings.

1 price change: 11559 Laika Ln 3/3 now $7.5M.

2 new sales: 11504 Wightman Ln 4/3.5 listed at $1.495M, 11505 Gore Ln 5/5 listed at $1.695M.

No closed sales.

LOTS

Nothing to report.

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

Happy Valentine’s Day, President’s Day, & weekend,

Susan Andrews, aka SanibelSusan

Sanibel & Captiva Islands Association of Realtors® April Membership Meeting

At SanibelSusan Realty

Gov. DeSantis Again Extends Florida’s COVID-19 State of Emergency

U.S. – 2nd Most-Affordable Housing Market in the World

Sanibel’s 2021 Prescribed Burn Areas

Sanibel & Captiva Islands Multiple Listing Service Activity April 23-30, 2021

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Sanibel’s State of Emergency

Sanibel & Captiva Farmers Markets

At SanibelSusan Realty

Water Quality Update

Sanibel-Captiva Conservation Foundation Marine Lab Data to Help

Sanibel & Captiva Islands Multiple Listing Service Activity April 16-23, 2021

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This May Be the Best Month Ever to Sell a Home

Why You Need SanibelSusan Realty Associates

Sanibel & Captiva Inventory

Sanibel & Captiva Islands Multiple Listing Service Activity April 9 to 16, 2021

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At SanibelSusan Realty

Pandemic Update

Membership Offerings at The Sanctuary

Happy Easter

Sanibel & Captiva Islands Multiple Listing Service Activity March 26-April 2, 2021

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Best Beach Town is “Sanibel Island”

Sanibel & Captiva Real Estate Scoop

The Brighter Path Ahead

Political Power Shift Could Generate Changes in the U.S. Luxury Housing Market

Sanibel & Captiva Islands Multiple Listing Service Activity March 12-19, 2021

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At SanibelSusan Realty

Sanibel – COVID-19

Fannie, Freddie Tighten Rules for Condos in Vacation Locales

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

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At SanibelSusan Realty

Sanibel – COVID-19

Sanibel Happenings

Florida Realtors 2021 Legislative Agenda

Sanibel & Captiva Islands Multiple Listing Service Activity February 26-March 5, 2021

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The Island Real Estate World

Sanibel – COVID-19

Sanibel& Captiva Islands Multiple Listing Service Activity February 19-26, 2021

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At SanibelSusan Realty

Bike, Walk, or Drive FREE on President’s Day

Average Long-Term Mortgage Rates Unchanged for 3rd Week

3 Major Home Insurance Mistakes to Avoid

Sanibel – COVID-19

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

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U.S. – 2^nd Most-Affordable Housing Market in the World

Average Long-Term Mortgage Rates Unchanged for 3^rd Week