Another Friday has arrived, again without much rain this week until a front from the Caribbean quickly passed through last night, waking many in the wee hours of this morning. Good thing I did a quick drive by one evening on the way home to see my favorite Apple Blossom Cassia tree (at Sanibel Moorings). Betcha the raindrops damaged its splendor.
Forecasters say this weekend will bring more evidence that the rainy season has begun. We hate to see the sparkling clear waters surrounding the islands get stirred up, but that typically is what happens during summer storm season.
Today, SCCF (Sanibel-Captiva Conservation Foundation) issued its weekly water quality report, which shows good conditions now, probably contributing to great fishing with 54 catches last Saturday at the “Ding” Darling & Doc Ford’s Tarpon Tournament.
There was no Association of Realtors® meeting yesterday, while here in the office, almost all our listings are sold. One more is scheduled to close early next week. After a couple of news items below is all the action posted in the island Multiple Listing Service since last Friday.
First, this weekend is graduation for Lee County high school seniors.
Best wishes to teammate Elise’s son Ryan who gets his diploma on Saturday… and is heading next to Florida Gulf Coast University (FGCU). Congratulations, Ryan (and family!.
Sanibel City Council Scoop
City Council held its regular meeting on May 3. A couple of their key decisions were:
- Traditional fourth of July fireworks display was approved. This will be the first since 2019.
- Road resurfacing project to be completed this summer on Sanibel-Captiva Rd between Tarpon Bay and Rabbit Rd.
- Share-use path system-wide repairs approved, to be complete by Nov.
Sellers Feel Shame if They Don’t Get Bids
Posted last Friday (May 13, 2022) on FloridaRealtors® and sourced to Realtor.com (May 12): “Some sellers hear about today’s bidding wars and pre-emptively overprice their home, only to feel shame – “What’s wrong with my house?” – if no bids come in.
“CHICAGO – Homes are selling within days or even hours – except for the homes that aren’t. When that happens, those homes’ owners say they often feel embarrassed and angry and wonder what could be wrong with their house.
“In the current seller’s market means, many homes end up in bidding wars. Fierce competition is the talk of the town and the topic of many media stories since 87% of March home sales were listings on the market for less than a month. Half of properties typically stayed on the market for only 17 days, according to the National Association of Realtors® (NAR).
“But home sellers with different experiences say their egos were bruised. Jessica Clark in Lincoln, Neb., says she and her husband were trying to sell their home in late 2020, which initially looked promising for a quick sale. They had constant buyer tours – but they received no offers. “We felt defeated and so worried,” she says. Their house lingered on the market for more than a month, while other homes were selling within days. Finally, they received an offer below the asking price, even though they heard everything else was selling for way above asking price. “It wasn’t the best,” she told realtor.com. “But we felt forced to accept.”
“Sellers whose homes linger on the market may need to have a heart-to-heart talk with their real estate agent about the next steps to renew interest. Could their house be priced too high? More sellers are having to drop their asking prices. Also, discuss what is turning off buyers. Are repairs needed? A real estate agent could suggest home staging, decluttering, or even minor renovation to help boost interest.
““A hot market leads people to believe that, because the house down the street had a bidding war and fast sale, they will follow suit,” says Laurie Leinwand, a licensed professional counselor of Three Steps Forward. “When reality falls short, there’s disappointment. Your objective is to sell. Let go of the timeframe. It will happen when it’s supposed to. If it takes a little longer, that’s OK.””
What Locals Are Saying
Here on Sanibel and Captiva, there have been similar discussions – same subject as above. A couple of Realtors® at our Caravan Meeting last week said, “with so little for sale here, if listings aren’t selling, they either are overpriced or in need of help.” That pretty much agrees with the above article.
Below is a quick summary of how long it has been taking island properties to sell (days-on-market). Note DOM (days-on-market) are the number of days from when a listing appears in the MLS until it either goes under contract or closed. Amounts shown are averages. Also, a “pending” contract has no contingencies, is just awaiting (or pending) closing.
Hard to believe there are just nine Sanibel homes for sale today! That’s a new record low and compares to 112 homes already sold/under contract year-to-date.
|Under contingent contract||11||18||13||15||4||116||6||43||2||99||0||N/A|
|Under pending contract||8||20||25||24||0||N/A||2||12||3||141||0||N/A|
|Sold 2022 thru 5/20||73||42||94||70||18||245||15||44||13||142||0||N/A|
Islands Night Tickets
Islands Night at Hammond Stadium has been happening since 1993. This year, 30 years after introducing this local celebration, Bailey’s General Store has turned over management and promotion of the event to the Sanibel & Captiva Islands Chamber of Commerce. 2022 Islands Night will be Wed, June 1, when the Fort Myers Mighty Mussels meet the Tampa Tarpons for an evening of baseball, including a pre-game parade, and islander camaraderie. Gates open at 6 p.m., the parade starts at 6:15, and game time is 7 p.m. Free tickets are available at the Chamber visitor center, Huxters Market & Deli, and any retailers at Bailey’s Shopping Center. Sponsorships also are available, find more details under the Calendar of Events at www.Sanibel-Captiva.org.
Shoreline Stabilization Project Begins on Woodring
This week, installation of a living shoreline began on Woodring Rd. This project is scheduled to complete in 90 days, weather permitting. For years, the area has been prone to erosion during storms and high winds. The living shoreline will help reduce erosion while providing habitat benefits for fish and wildlife. These shorelines incorporate the use of structural and organic materials such as wetland plants, oysters and sand, with limited use of rock and concrete. The project funding is by a grant from the Florida Department of Environmental Protection Resilience Implementation Program.
Sanibel & Captiva Islands Multiple Listing Service Activity May 13 – 20, 2022
2 new listings: Seawind #A106 2/2.5 $899K, Sanctuary Golf Villages I #3-5 2/2.5 $1.299M.
1 price change: Sanibel Surfside #116 2/2 now $1.495M.
5 new sales: Pelicans Roost #302 2/2 listed at $1.389M, Sanddollar #B301 2/2 listed at $1.699M, White Pelican #124 2/2 listed at $1.699M, Atrium #301 3/3 listed at $1.949M, Somerset #A301 3/2.5 listed at $3.25M.
2 closed sales: Captains Walk #D5 2/1 $569K, Sanibel Arms West #H7 2/2 $890K.
1 new listing: 1270 Par View Dr 3/2 $1.699M.
No price changes.
6 new sales: 1752 Serenity Ln 3/2 listed at $899K, 2010 Wild Lime Dr 3/2 listed at $1.1M, 1985 Wild Lime Dr 3/2 listed at $1.299M, 4202 Old Banyan Way 3/2.5 listed at $1.511M, 4640 Rue Belle Mer 3/3 listed at $2.495M, 1558 San Carlos Bay Dr 3/3.5 listed at $4.35M
4 closed sales: 1072 Blue Heron Dr 3/2 $939K, 1560 Royal Poinciana Dr 3/2 $1.475M, 1311 Sand Castle Rd 3/2 $1.475M, 824 Birdie View Pt 3/3 $1.75M.
Nothing to report.
1 new listing: Tennis Villas #3113 1/1 $569K.
No price changes, new or closed sales.
1 new listing: 11505 Gore Ln 5/5 $3.89M.
1 price change: 11529 Andy Rosse Ln 4/4 now $4,298,765.
1 new sale: 16221 Captiva Dr 5/5.5 listed at $7.25M.
No closed sales.
Nothing to report.
This representation is based in part on data supplied by the Sanibel & Captiva Islands Association of Realtors® Multiple Listing Service. Neither the association nor its MLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or its MLS may not reflect all real estate activity in the market. The information provided represents the general real estate activity in the community and does not imply that SanibelSusan Realty Associates is participating or participated in these transactions.
Until next Friday, enjoy!
Susan Andrews, aka SanibelSusan