August Arrives – Summertime on Sanibel & Captiva Island

Posted on August 7, 2015 by SanibelSusan

Redfish Pass between Captiva & North Captiva

This week, the rainy weather experienced on the islands last week turned around, with hot sunny days in the low 90’s and just an occasional quick shower. If you are here on vacation this week, it’s a winner weather-wise!

Florida schools go back early with teachers in Collier starting on Monday, Lee the following week, so it is pretty much a summer wind-down beginning here. Many condo fall projects already are beginning and restaurants/shop workers are talking about when they will be closing for their pre-season breaks.

Vacation rental bookings have dwindled down too and will continue for the next few weeks until we see the snowbirds start to come back, usually mid-October.

The good news is that although there is not much real estate activity now, the buyers who are here looking, generally are serious.

There was no Realtor® Caravan Meeting this week, but The SanibelSusan Team had a handful of showings and another closing. The activity posted in the Sanibel and Captiva Multiple Listing Service over the last seven days, follows a couple of news items.

If you are on our mailing list, this week we mailed an island inventory booklet dated July 22, 2015. It is organized by island (Sanibel and Captiva) and property type (condos, homes, lots) and subdivision/complex. Included are the properties for sale and recent sales. If you want to be added to our mailing list, please call 888-603-0603 or 239-471-HOME (4663), or email Susan@SanibelSusan.com.

Where Do Buyers Come From?

The following comes from the National Association of Realtors® Economists’ Outlook blog on July 15:

“Getting involved in your community once only meant volunteering for a civil group, joining a sports club, or running for local governance. People stayed connected through face to face interactions. In an industry like real estate that thrives on friendly interactions and personal connections, building online communities through websites, social media, and digital communication is now one of the most efficient ways that REALTORS® can build and expand their network to generate new business.

“The majority of business for real estate professionals comes from referrals and repeat business, which makes sense since the industry is built upon personal relationships. At first, the idea of expanding online communities to grow the real estate industry seems like a no-brainer. All businesses these days rely on digital connectivity or they get left behind. The National Association of REALTORS® (NAR)’s Research department flipped through its survey data to take a deep look at how its members value online communities for their business. Here is what the surveys said:

“The NAR 2015 Member Profile, an in-house survey that gathers demographic data on its 1 million real estate members, reports that:

65% of REALTORS® use social media for their business.
64% said that open houses brought no business.
40% of business for younger agents are from referrals and repeat business and 64% for more experienced agents.

“Naturally, word of mouth remains the largest source of income for NAR members and only grows by the number of years REALTORS® stay in the game. What is interesting to note is that open houses are almost a dead avenue for REALTORS® – they brought two-thirds of NAR members no business. Websites do not appear to bring in new clients on their own. However, two-third of members said they actively use social media as a means to market their brand and showcase their listings.

“The NAR 2014 Profile of Home Buyers and Sellers, NAR’s profile of the buying and selling process, states that:

The first step in the home-buying process for 43% of home buyers was looking online for properties and 12% looked online for information about how to buy a home.

“Ninety-two percent of buyers use the internet in some way in their home search process and 50% of buyers use a mobile website or application in their home search.

“Real estate agents were viewed as a useful information source by 98% of buyers who used an agent while searching for a home.

“Eighty-eight percent of buyers purchased their home through a real estate agent or broker—a share that has steadily increased from 69 percent in 2001. As a frame of reference, in 1964, 61% of buyers contacted agents, 40% read newspaper ads, and seven percent drove around when looking for a home. In 2014, 43% looked for properties online. While the initial process may start online, when buyers seek to make a home purchase, they turn to the advice from a real estate agent that they connected with from a trusted friend or family member.”

Sanibel Considers Increases for Beach Parking, Rec Center Fees

From the “Santiva Chronicle” on Tuesday, August 4, 2015:

“Beach parking prices and Recreation Center fees are about to go up on Sanibel. The Sanibel City Council will consider an ordinance at its September meeting that would raise the hourly fee for public beach parking from $3 to $4. Also to be considered at that meeting will be an ordinance that would raise fees for the various programs at the Sanibel Recreation Center in a range up to 20%.

“Both ordinances were proposed at the council’s meeting Tuesday, Aug. 4, as part of ongoing process of finalizing the 2016 fiscal year budget. “It’s important that taxpayers of Sanibel, the ones who are here all the time, not pay for increases in tourism on the island. The tourists should pay,” said Vice-Mayor Mick Denham, who moved to have the parking fee increase come before the council in September in the form of an ordinance. Beach parking fees pay for beach related expenses and Denham said the increase could be used to fund beach erosion projects, security cameras and other improvements.

““Beach parking pays for itself, but the beaches have other issues, like traffic and security,” Councilman Chauncey Goss said. He has advocated an increase in the parking fee since he came on the council this year.

“It’s a supply and demand issue,” Goss said. “If the beach parking lots are always full, then they may not be priced right.” “It’s a user fee, is what it is,” Councilman Marty Harrity said. “Let it pay for itself.” Denham urged that the council take Tuesday’s action in order to get the ordinance in front of the council in September for a first reading.

““Our population hasn’t changed. What’s changed is the number of visitors. It is reasonable to ask visitors to pay,” Denham said following the meeting. “We’ve already got $2.5 million going into our beaches, but that doesn’t pay for all of the expenses. We’ve got to live within our means.”

“Recreation Center – The council, at the urging of Mayor Kevin Ruane, sought ways of saving money at the Recreation Center and in response to that it received a report from Recreation Director Andrea Miller outlining ways to save $121,700. Among them is an across-the-board 10% increase in fees that would raise $60,000 more.

“Instead the council asked for an ordinance to be prepared that would evaluate programs at the Rec Center and determine appropriate increases in each up to 20%. “What programs are being heavily subsidized?” Goss asked. “We should identify those.”

“Presently the year individual rate for a resident is $157.50. A 10% increase would raise that to $173.25 and a 15% increase would take it to $181.13. “This gives us flexibility. Residents will still find that even with increases that our Rec Center is very competitive,” Ruane said.”

NAR Survey Finds Like-Kind Exchanges Promote Job, Economic Growth

According to a recent press release: “Real estate like-kind exchanges are an important vehicle for disposing of and acquiring properties and support the nation’s financial growth, job creation and economy, according to a new report from the National Association of Realtors®.

“The Like-Kind Exchanges: Real Estate Market Perspectives 2015 survey of NAR’s commercial and residential members found that real estate investors and commercial property owners place a very high priority on current like-kind exchange tax rules; 40% indicated that transactions would not have occurred in the absence of the tax provision, and 56% said even if the project would have occurred it likely would have been smaller in scale.

“Realtors® are active participants in like-kind exchanges; 63% of Realtors® participated in a like-kind exchange transaction between 2011 and 2015. The survey found that like-kind exchanges in which Realtors® participated created between 10 and 35 new jobs, mostly resulting from spending on building improvements following acquisition.

“”Like-kind exchanges that allow investors and businesses to defer capital gains taxes on the exchange of similar properties bring great advantages to investors, real estate markets and the economy,” said NAR Chief Economist Lawrence Yun. “Realtors® and their clients often look for better economic use of existing properties that are underutilized, which helps promote local economic development and increase the nation’s gross domestic product.”

“Internal Revenue Code Section 1031, a provision that has been in the tax code since 1924, provides individuals and businesses with critically needed tax deferment on gains after the disposition of a property as long as the proceeds are reinvested in a similar property through a like-kind exchange. Replacement properties must be identified in 45 days and the transaction completed within 180 days.

“Survey respondents said the primary reason that they or their clients participated in a like-kind property exchange, aside from the deferral of capital gains taxes, was for equity to acquire additional properties. Other reasons were for estate planning, portfolio diversification and completion of a development project.

The tax savings resulting from like-kind exchanges are also helping bring more capital into local markets. Eighty-six percent of respondents said the savings from tax deferment allowed them or their clients to invest additional capital and make improvement in their acquired properties; these investments are generally responsible for the creation of new jobs, such as in construction and property management.

“According to the survey, in 68% of like-kind transactions, Realtors® acted as a broker or agent, and 24% participated as an owner or investor in the transaction. A larger percentage of commercial members (76%) reported engaging in a like-kind exchange transaction compared to residential members (45%). Of the total, 40% participated in between 1 and 3 transactions, and 23% participated in 4 or more transactions.

Residential properties comprised the largest portion of recent deals, accounting for 27% of disposed properties and 24% of acquired properties, followed by apartments (17% of dispositions and 22% of acquisitions). Land assets accounted for 19% of dispositions and 17% of acquisitions; retail properties accounted for 8% of dispositions and 13% of acquisitions; and office buildings comprised 11% of dispositions and 10% of acquisitions.

“Investors tend to hold on to their properties for several years; 47% of respondents reported their holding period was between 5 and 9 years, and 27% indicated a holding period of 10 to 14 years.

“NAR believes like-kind exchange transactions are fundamental to the real estate investment sector, and repealing the tax provision would have negative effects across real estate markets and the industry.

“Like-kind exchanges help investors more efficiently allocate capital and resources with less borrowed money into new investments that drive economic activity in communities across the nation,” said NAR President Chris Polychron, executive broker with 1st Choice Realty in Hot Springs, Ark. “Any tax reform plan repealing like-kind exchanges would hurt investors and small businesses, increase financial leverage, weaken growth and the economy, and result in the loss of jobs.”

“Survey respondents indicated that repealing like-kind exchange tax provisions would reduce equity in real estate; 67% indicated repeal would lead to a large increase in financial leverage. Realtors® said the negative result would be reduced purchase money and new construction loans, and increased property holding periods. Ninety-six percent of Realtors® also said real estate values would decrease if like-kind exchange provisions were repealed….”

Sanibel & Captiva Multiple Listing Service Activity July 31 to August 7

Sanibel

CONDOS

No new listings.

1 price change: Sanibel Inn #14 2/2 now $739K.

1 new sale: Captains Walk #F7 2/1.5 listed at $310K.

3 closed sales: Captains Walk #F6 2/2 $285K, Sunset South #9C 2/2 $425K (our listing), Sundial #R304 2/2 $735K.

HOMES

1 new listing: 249 Daniel Dr 2/2.5 $834.9K.

3 price changes: 999 Sand Castle Rd 3/3 now $547K; 9032 Mockingbird Dr 3/2 now $549,999; 1188 Harbor Cottage Ct 3/3 now $899,555.

2 new sales: 1744 Bunting Ln 4/2 listed at $649K, 734 Sand Dollar Dr 3/3.5 listed at $1.195M.

1 closed sale: 1521 Wilton Ln 3/2 $520K.

LOTS

1 new listing: 5821 Pine Tree Dr $599K.

No price changes or new sales.

1 closed sale: 4626 Buck Key Rd $178K.

Captiva

CONDOS

No new listings.

1 price change: Beach Villas #2618 2/2 now $659.9K.

1 closed sale: Lands End Village #1660 3/3 $1.35M.

HOMES

Nothing to report.

LOTS

Nothing to report.

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

Until next week, Susan Andrews, aka SanibelSusan

Summertime Real Estate Report from Sanibel & Captiva Islands

Posted on July 10, 2015 by SanibelSusan

It’s SanibelSusan reporting the third week of “summer quiet” in the Sanibel and Captiva Islands real estate business. I have heard some interesting behind-the-scenes comments about how things have changed here this year. There definitely is a change in occupancy with accommodations mostly at capacity and the island busy, just busy having fun and not viewing or buying or listing real estate.

This week the “Periwinkle Way late-day traffic jam” reappeared. That usually is only during the winter months from about 3 to 7 p.m. when the islands are full and day workers are leaving. It is when traffic gets backed up at the 4-way stop. Typical late afternoon summer showers may have contributed to this extra summer traffic with more visitors on the road once the sun disappears.

The July 4^th festivities last weekend were well attended, with a big turn-out at SanibelSusan Realty for the parade. Here are a few photos, some taken by my cell phone, but the good ones are credited to our pal, Scott Shew, who always is great about sharing his pictures. Thank you, Scott.

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As the week progressed, Scott shared a few more photos. These two at Ding Darling he said were taken when the no see-ums were out in full force so the bird in the second one might be dunking to avoid them.

SZ6A0404

Below are a few news items followed by the action posted in the Sanibel and Captiva Multiple Listing Service over the last seven days, there wasn’t much!

Heat Wave Sweeps Through Housing Market

From Realtor®Mag’s “DAILY REAL ESTATE NEWS”:

“The housing market is getting hotter this summer, according to a preliminary analysis of June data from realtor.com®. The median list price nationwide in June rose 7% year-over-year, reaching $233,000. The median days on the market is 66 days, also down 7% year-over-year. Also, inventories are growing faster – 4% higher in June over May, but still down over last year. (That’s the case nationally, but not on Sanibel and Captiva where inventory is very low.)

“”Our early read of real estate trends in June suggests good news ahead for the U.S. residential real estate market, especially in the hottest markets with healthy growth in supply,” says Jonathan Smoke, realtor.com® Chief Economist. Traffic and searches on realtor.com® continued to set new highs in June. Unique users for June are now on pace for at least a 40% growth year-over-year and visits and searches at realtor.com® are expected to surge more than 50% and 30%, respectively, Smoke says.”

Economists Pinpoint Inventory Shortage Causes

As follow-up to the last article, this one based on The Wall Street Journal, June 26, has some answers:

“Inventories of homes for-sale remain low due to home owners staying put and homebuilders still keeping supplies tight, economists said during a panel discussion at the National Association of Real Estate Editors’ annual conference.

“Homes listed for resale in May were at a 5.1-month supply at the current sales pace. Most economists consider a supply of six to seven months to be balanced and healthy for the market.

“Economists at the National Association of Real Estate Editors’ annual conference pointed to several factors that are preventing sellers from putting their homes up for sale. Lawrence Yun, chief economist of the National Association of REALTORS®, blamed the bulk of the inventory shortage on the lack of new construction. “We will still have an inventory shortage if builders won’t build,” Yun said. “It is just simple math.”

“Other economists during the panel also said the persistent lack of equity four years into the housing recovery for a large number of home owners continues to prevent many would-be sellers. About 5 million homes in the U.S. — or 10% — are underwater, valued at less than the mortgage.

“Also, some home owners may be reluctant to sell partly because they refinanced in recent years at interest rates of less than 4% and they don’t want to give up those low rates, says Frank Nothaft, CoreLogic’s Chief Economist.

“The economists also noted a significant increase in single-family homes being offered for rent that have dented the overall supply of homes for-sale too. Nothaft estimates that since the downturn investors have purchased 3 million single-family homes and converted them into rentals.

“Other economists at the session also noted that stringent mortgage standards, prohibitive land costs, and limited lending to small builders was also prompting a lower supply of homes for sale.”

Study: Biggest Opportunities in Boomer Market

We aren’t giving up on those baby boomers just yet. They definitely are the largest market segment on the islands. Here’s what “DAILY REAL ESTATE NEWS” said about them last Wednesday:

“Though the real estate industry has made it a mission to bring Millennials into home ownership in recent years, a new study by research firm HouseCanary suggests we not ignore an inconvenient truth: Baby boomers have the buying power.

“The study raises questions about how wise it is to focus on Millennial buyers, given their economic limitations. If interest rates — which are expected to keep ticking up this year — were to increase to 6%, more than one in three Millennials would no longer be able to afford a home at their current prices, HouseCanary found. Millennials are carrying high debt with limited savings, and their career growth has been slow.

But baby boomers have fueled the housing market for decades as the biggest drivers of growth in the entry-level market in the 1970s and ’80s, as well as the move-up market in the ’90s and 2000s. Boomers aren’t slowing down: They’re expected to continue to drive household growth over the next 20 years “due to significant wealth and high home ownership rates,” according to HouseCanary. Over the past year alone, baby boomers accounted for 244% of household growth annually.

“”The vast imbalances in wealth and home ownership among baby boomers and Millennials are resulting in wide disparities in the demand for home buying versus renting,” says HouseCanary President JP Ackerman. “Our analysis indicates that rising interest rates and home prices will exacerbate the situation, as the Millennials’ ability to purchase homes will be severely jeopardized as monthly payments get further out of reach.”

“HouseCanary CEO Jeremy Sicklick says his company’s research indicates greater opportunity for developers to target the aging population with for-sale inventory while targeting the younger generation for-rent inventory.”

New Fire Station on Captiva

The grand opening of the new fire station on Captiva is scheduled for Sat, July 18, from 10 a.m. until noon. The public is invited. It also is the 60^th anniversary of the creation of the Captiva Island Fire District. During that time, it has transformed from a volunteer bucket brigade to a squad of highly-trained professionals with equipment for not just fighting fires but also for advanced life support. Congratulations! www.CaptivaFire.com

Sanibel & Captiva Multiple Listing Service Activity July 3-10

Sanibel

CONDOS

3 new listings: Tennisplace #D31 1/1 $239K, Heron at The Sanctuary III #1B 3/2.5 $650K, Nutmeg Village #309 2/2 $799K.

No price changes.

1 new sale: Colonnades #15 1/1 listed for $225K.

3 closed sales: Sunset South #2D 2/2 $500K, Breakers West #C2 2/2 $522.5K, Nutmeg Village #214 2/2 $920K.

HOMES

2 new listings: 976 Sand Castle Rd 3/3 half-duplex $495K, 3402 West Gulf Dr 3/2 $2.2M.

No price changes.

1 new sale: 1774 Bunting Ln 3/2 listed for $539K.

1 closed sale: 1325 Par View Dr 3/2.5 $695K.

LOTS

No new listings or price changes.

1 new sale: 2460 Library Way listed for $324.9K.

No closed sales.

Captiva

CONDOS

2 new listings: Bayside Villas #5144 1/2 $299.9K, Ventura Captiva #1B 2/2 $1.35M.

1 price change: Bayside Villas #5310 3/3 now $585K.

No new or closed sales.

HOMES

No new listings.

2 new sales: 16785 Captiva Dr 3/3.5 listed for $1.395M, 1105 Tallow Tree Ct 3/3 half-duplex 3/3 listed for $2.0449M.

1 closed sale: 16512 Captiva Dr 7/5.5 $6.525M.

LOTS

Nothing to report.

Good weekend wishes to all. Little rain is expected here over the next few days, so no traffic jams expected! Here’s hoping the sunsets are as beautiful as this one. (Thanks, Melissa!)

Cheers! Susan Andrews (aka SanibelSusan)

It Sure is Quiet on Sanibel & Captiva Islands

Posted on June 5, 2015 by SanibelSusan

It’s SanibelSusan reporting that this week, it is REALLY QUIET on the islands – hopefully the end of that lull between “season” and the arrival of summer vacationers. Lee County Schools are out today, so maybe we will see more Floridians on the island in the upcoming weeks. In the meantime, the reprieve is giving the locals a little time to stop and smell the roses, or in my case, appreciate my bougainvillea explosion and happy trumpet bush.

Happenings at SanibelSusan Realty

Over the last seen days, we had a few listings shown, but no offers or even routine buyer traffic through the office.

The local Association of Realtors® did not have a Caravan meeting this week. The next one is June 18, which also is a monthly Membership Meeting. The real estate activity posted this week in the Sanibel & Captiva Multiple Listing Service follows a few news items below.

On Tuesday, I taught my annual class at the Association Office. Each summer, the Sanibel/Captiva Islands Association offers the 12 modules of instruction that are needed for Realtors® to earn their SCIS designation (Sanibel & Captiva Islands Specialist). Nearly 15 candidates this year are working to earn theirs, looking to join our 75 active certificate holders. You-know-who was in the first class many years ago.

Three years ago, I wrote the module on the Resort & 2^nd Home Market and have taught it each year since. Here are a few tidbits that were added this year to the class handout:

Last year, vacation home sales nationally climbed to an estimated 1.13 million, the highest since NAR (National Association of Realtors®) began tracking those statistics in 2003. This was an increase of 57% over the number sold in 2013. Vacation home sales in 2014 nearly doubled the combined total of the previous two years. Nationally, vacation home sales were 21% of all transactions in 2014.
As vacation home sales soared & despite a strong rental demand, investment purchase dropped for the 4^th consecutive year to their lowest since 2010. (These national statistics are on trend with Sanibel/Captiva too.)
Why? Lawrence Yun, NAR’s Chief Economist, says: “Affluent households have greatly benefitted from strong growth in the stock market in recent years, & the steady rise in home prices has likely given them reassurance that real estate remains an attractive long-term investment. Furthermore, last year’s impressive increase also reflects long-term grown in the numbers of baby boomers moving closer to retirement & buying 2^nd homes to convert into their primary home in a few years.”

Upcoming Events

Tomorrow, Sat, June 6 – National Trails Day kicks off free summer programs at J.N. “Ding” Darling National Wildlife Refuge with special activities held from 9 a.m. to 4 p.m. Events tomorrow include scheduled hikes on Indigo Trail & the Wildlife Education Boardwalk; Reading in the Refuge & Animal Tracking 101 in the Visitor & Education Center; & Animal Olympics on Indigo Trail. Bi-weekly family nature films & weekly walks & nature crafts highlight the free summer programs offered through August 9. See full schedule at www.dingdarlingsociety.org/summer-programming.

Wed, June 17 – 22^nd Annual Sam Bailey’s Islands Night at Lee County Sports Complex, gates open at 5:30 p.m., parade at 6:15 p.m., game starts at 7:05 p.m.

Sat, June 20 – FREE ADMISSION to The Sanibel Historical Village, 10 a.m. to 1 p.m.

“Know Before You Owe” Disclosure Forms

From the June 2015, “FloridaRealtor®” magazine:

“On August 1, 2015, new rules go into effect to combine the Good Faith Estimate and the initial Truth in Lending (TIL) disclosure into a single “Loan Estimate” and combine the HUD-1 Settlement Statement and the final TIL disclosure into a single “Closing Disclosure”. The Consumer Financial Protection Bureau (CFPB) refers to these as the “Know Before You Own” disclosure forms.

“Because of the new requirements, at least initially, it might be unrealistic to plan a 30-day closing for most transactions. Until we see what impact the new rules will have, NAR (National Association of Realtors®) advises to plan on 45-day closings instead of 30-day closings, and to be ready for closing (including doing the walk-through) a week in advance.

“These modifications, which come as part of the CRPB’s changes to the Real Estate Settlement Procedures Act (RESPA) and the Truth in Lending Act (TILA) under the Dodd-Frank Wall Street Reform and Consumer Protection Act, will apply to most closed-end consumer mortgage loans.

“As part of the new rules, the lender must give the loan estimate to the buyer within three business days after the lender receives a completed application from the buyer. A completed application contains six items of information: buyer’s name, income, Social Security number, property address, estimated property value and loan amount.

“The lender or the closing agent must give the buyer the Closing Disclosure at least three business days prior to closing. Changes to the information provided in the document may require a revised Closing Disclosure and an additional three-day review period to be given. Buyers may waive the review period for a bona fide financial emergency.”

Upcoming Summer Projects on the Islands

Summer into fall, when fewer occupants will be disturbed, is when most associations allow noisy projects in their communities. When working with Buyers thinking of purchasing a property that is in need of renovation, we always advise that they pay strict attention to the association rules and guidelines on how and when those projects may be accomplished, including what approvals and permits may be required. Some associations also have restrictions on what the improvements may be. For those looking for contractors, www.MySanibel.com has a list, by discipline, of those licensed here.

One of those summer projects began this week, at Seascape. Their stucco restoration project began June 1; while at Sunset South, we understand that their Building 8 will be reconstructed beginning July 1.

Some broader news is that last week, the City (Sanibel) was notified by the Lee County Department of Transportation that they will be performing bridge maintenance on all three causeway bridges beginning Monday June 8 and ending Thursday June 18, weather permitting. The bridges will remain open during this time, but there may be some lane shifts.

Sanibel & Captiva Multiple Listing Service Activity May 22-June 5

Sanibel

CONDOS

1 new listing: Loggerhead Cay #474 2/2 $489.9K.

1 price change: Sundial #R401 2/2 now $824K (our listing).

Sundial Resort #R401

6 new sales: Captains Walk #F6 2/2 listed for $319.9K, Mariner Pointe #121 1/1 listed for $369K, Sunset South #2D 2/2 listed for $525K, Pointe Santo #C4 1/1 listed for $639K, Island Beach Club #P2E 2/2 listed for $799.9K, Seascape #201 3/3 listed for $1.795M.

2 closed sales: Ibis at The Sanctuary A101 2/2 $449K, Ibis at The Sanctuary #B201 2/2 $435K.

HOMES

2 new listings 9439 Coventry Ct 2/2 $525K, 1730 Jewel Box Dr 4/3 $1.85M.

4 price changes: 9032 Mockingbird Dr 3/2 now $598.4K, 1460 Court Pl 6/5.5 multi-family now $649K, 1328 Seaspray Ln 4/4 now $895K, 1245 Isabel Dr 3/3.4 now $1.649M.

2 new sales: 778 Cardium St 3/3 listed for $449K, 4620 Rue Bayou 3/3 listed for $899K.

6 closed sales: 4109 Sanibel-Captiva Rd 2/1 $275K, 828 Rabbit Rd 2/1 $360K, 257 Daniel Dr 3/2 $604K, 1755 Jewel Box Dr 3/2 $685K, 667 Anchor Dr 4/3.5 $1.05M, 3400 West Gulf Dr $1.1M.

LOTS

No new listings.

1 price change: 3723 West Gulf Dr now $2.895M.

2 new sales: 0 Bowmans Beach Rd now $125K, 247 + 255 Robinwood Cir now $229K.

No closed sales.

Captiva

CONDOS

No new listings or price changes.

2 new sales: Beach Villas #2322 1/1 listed for $499K, Marina Villas #706 2/2 listed for $625K.

1 closed sale: Bayside Villas #5318 3/3 $600K.

HOMES

No new listings.

1 price change: 16897 Captiva Dr 5/5.5 now $3.09M.

No new or closed sales.

LOTS

Nothing to report.

Until next Friday, Susan Andrews, aka SanibelSusan

Friday on Sanibel: Real Estate, Ospreys, Earth Day, GoMLS, & more

Posted on April 17, 2015 by SanibelSusan

It is SanibelSusan reporting the end of another week of terrific Florida weather. Traffic on Sanibel and Captiva Islands has subsided a little, but the islands remain fairly busy. The good news is the locals again are talking about being able to get in at restaurants without much of a wait. It also appears that most of the buyers returning to view property now are serious! Yay!

I missed chatting with client/friends from California who stopped in at the office last Saturday while I was writing an offer. While they were talking to Lisa, Scott gave me the AOK to share his recent osprey photos in my blog. So thank you, Scott.

SanibelSusan Realty Happenings

The SanibelSusan Team and I are happy to report that we had a nice closing yesterday, one of those where we had to go find the property as none were for sale in that particular complex. Big shout-out to Arika at VIP for coming to our rescue on that one. Picture below of the view at Gulfside Place #318.

Though it does not happen often at this time of the year, Dave, Elise, Lisa, and I have all been on listing presentations this week. Good to know that some fresh listings may be coming on the market this summer.

Over the last couple of days, I also have been negotiating several offers. Some are still cooking and one has been accepted verbally. They include offers coming in on our listings and a couple that I have written. That confirms, it has been a busy week!

With at least two new listings coming our way, all-in-all, it was yet another productive week for SanibelSusan Realty and good to see island good real estate action continuing during the time we often refer to as the “shoulder” period. More buyers are coming over the weekend too. Over the next few days, Dave and I both will be out showing property.

Good Multiple Listing Service activity was posted over the last seven days as shown below. First a couple of news items:

SanCapGoMLS

The Sanibel & Captiva Islands Multiple Listing Service has announced a new mobile app. “SanCapGoMLS”, designed for use on smart phones/tablets, zeroes in on the user’s location and identifies properties for sale in the surrounding area. It also can perform quick property searches for any listings in the MLS. The user specifies the search criteria and the results are immediate, mapped, and with all the photos.

If you’d like us to email you a link so you can install the app too, just send me a quick email (Susan@SanibelSusan.com) or text message (239-565-3128). It’s free!

Fun to use too, if you are one of those folks who wonders about the details of a property when you see a “for sale” sign. Of course, the database also contains properties for sale in the communities that do not allow signs too. So get all the scoop about all the listings with SanCapGoMLS. It’s a great tool.

Celebrate Earth Day Tomorrow at J.N. “Ding” Darling National Wildlife Refuge

Join in the celebration tomorrow at the “Ding” Darling Refuge where Wildlife Drive is FREE to hikers and bikers from 7 a.m. to 4 p.m. From 8 a.m. to 4 p.m. FREE bike rentals will be provided by Tarpon Bay Explorers (pick the bikes up at Tarpon Bay Explorers’ location). Earth Day mascot “Bagzilla” will make appearances throughout the earth-friendly day and free program. Click here for flier.

Real Estate Likely to Ride a 3-Year Wave

Here’s a positive article from last Friday’s “Daily Real Estate News”, sourced to “Urban Land Institute”:

“The real estate industry is expected to strengthen this year and continue to get stronger through 2017, according to a new report released from the Urban Land Institute Center for Capital Markets and Real Estate, which is based on a survey of the industry’s top economists and analysts.

“Survey respondents said that the residential, single-family housing sector remains in recovery mode and economists predict that housing starts will rise from 647,000 in 2014 to 700,000 in 2015; to 815,000 in 2016; and 900,000 by the end of 2017.

“Economists predict that existing home prices will rise through 2017 — rising 5% this year; another 4% in 2016; and by 4% in 2017.

“”In summary, almost all U.S. real estate participants would be very pleased if the future unfolded as predicted by the ULI consensus forecast,” says ULI leader William Maher, director of North American strategy for LaSalle Investment Management in Baltimore. “The forecast represents almost the perfect combination of strong economic and property market fundamentals, combined with an orderly wind-down of monetary stimulus.”

“Although an economic downturn could throw off these predictions, as well as interest rate spikes or oversupplies, “real estate pros predict three more years of smooth sailing for U.S. real estate,” Maher adds.

Survey respondents were also upbeat with their forecasts for the commercial market, including:

Office sector: Respondents expect rental rates in office space to rise 4% this year, 4.1% in 2016, and 3.5% in 2017.
Apartments: Respondents expect rental rates continue to push upward, rising by 3.5% in 2015, 3% in 2016, and 2.7% in 2017.
Retail: Analysts expect that rental rates in the retail sector to rise by 2% in 2015, 3% in 2016, and 2.9% in 2017.
Industrial/warehouse: Analysts expect rental rates in the warehouse sector to rise by 4% this year, 3.8% in 2016, and 3.1% in 2017.”

Sanibel & Captiva Multiple Listing Service Activity April 10-17

Sanibel

CONDOS

2 new listings: Loggerhead Cay #353 2/2 $499K (our listing), Nutmeg Village #214 2/2 $995K.

View from Loggerhead Cay #353

5 price changes: Captains Walk #C7 1/1 now $229.9K, Spanish Cay #C5 2/2 now $369.9K, Tarpon Beach #204 2/2 now $750K, Sundial #F201 2/2 now $769K, Sanddollar #A104 2/2 now $799K.

4 new sales: Sundial #F303 2/2 listed for $495K, Sundial #R304 2/2 listed for $799K, Dosinia #2B listed for $1.299M, Seascape #205 3/3 listed for $1.849M.

5 closed sales: Sunset South #9D 2/2 $360K, Sanibel Arms West #L5 2/2 $500K, Gulf Beach #102 2/2 $695K, Gulfside Place #318 2/2 $1.25M (our buyer), Beachcomber #C102 2/2 $1.5275M.

HOMES

No new listings.

4 price changes: 778 Cardium St 3/3 now $449K, 2984 Island Inn Rd 3/2 now $619K, 4620 Rue Bayou 3/3 now $899K, 904 Almas Ct 3/2.5 now $1.045M.

5 new sales: 750 Martha’s Ln 3/2 listed for $579K, 1445 Causey Ct 3/2 listed for $849.9K, 757 Windlass Way 3/2.5 listed for $1.149M, 1138 Harbour Cottage Ct 3/2.5 listed for $1.195M, 428 Bella Vista Way E 4/4 listed for $1.695M.

8 closed sales: 2621 Sanibel Captiva Rd 3/2 $247K, 702 Donax St 2/2 $370K, 1712/1714 Sand Pebble Way 4/2 duplex $389K, 1347 Jamaica Dr 2/2 $500K, 2596 Roosevelt Pl 3/2 $665K, 732 Durion Ct 3/2 $700K, 625 Sea Oats Dr 3/3 $748K, 5721 Sanibel Captiva Rd 3/3/2 $1.3M.

LOTS

1 new listing: 4538 Bowen Bayou Rd $299K.

1 price change: 1310 Par View Dr now $359,555.

1 new sale: 1336 Eagle Run Dr listed for $245K.

1 closed sale: 3792 Coquina Dr $305K.

Captiva

CONDOS

No new listings or price changes.

1 new sale: Beach Homes #19 3/3 listed for $2.695M.

2 closed sales: Beach Villa II #2418 2/2 $630K, Lands End Village #1606 3/3 $1.85M.

HOMES

No new listings.

1 price change: 1105 Tallow Tree Ct 3/3 half-duplex now $2.15M.

No new sales.

1 closed sale: 16183 Captiva Dr 4/3.5 $2.785M.

LOTS

No new listings or price changes.

1 new sale: 16970 Captiva Dr listed for $2.995M.

No closed sales.

Until next Friday, when I hope we have more good news to report,

Susan Andrews (aka SanibelSusan)

Just Another Week With Gorgeous Weather on Sanibel & Captiva Islands

Posted on April 3, 2015 by SanibelSusan

It’s the next to last week of high season on Sanibel and Captiva Islands, but the real estate action has been a little slower than expected. The fabulous weather with low humidity and warm summer-like temperatures with bright blue skies likely has kept the many families and visitors here instead engaged in other fun-in-the-sun activities.

Dave and Lisa took an afternoon drive through Babcock Ranch last Saturday. Check out Dave’s panther pictures below and you will understand why those animals are not on Sanibel. Takes a lot to feed a big animal like that. If you have not explored the ranch, it is an easy trip from the island and a nice time of the year to do it.

SanibelSusan Realty Associates

Twice this week, we had a good walk-in interested in buying an investment gulf-front condo. Unfortunately, it is next to impossible to find any that can be viewed during what is traditionally one of the busiest weeks on the island. Tenant turnovers tomorrow are expected to be heavy too with many of rental organizations bringing on extra cleaners and inspectors to get them through the Saturday check-out/check-in rush.

We had a nice closing on Monday and are checking the boxes on the activities coming up on a few others, while we also said goodbye this week to some snowbird clients heading home.

Attendance was light at our Association of Realtors® Caravan meeting yesterday with not many sales announced. Below are a few news items followed by the activity posted this week in the Sanibel & Captiva Islands Multiple Listing Service.

What’s Driving International Buyers to Florida?

Good article in the April 2015 issue of “FloridaRealtor®”. Here are a few excerpts:

“Patricia Tan expects strong demand for Florida vacation properties from United Kingdom (UK) buyers this year. “Changes in the U.K.’s pension regulations will allow retirees to take out a lump sum in 2015”, says Tan, a sales associate with Coldwell Banker Residential Real Estate in Sarasota and the National Association of Realtors® president’s liaison to the United Kingdom. “While some retirees will buy in France and Spain, there is still plenty of interest in Florida as a second-home destination,” she says.

“That’s just one example of the way political, economic, and policy changes in distant parts of the world can significantly impact global demand for Florida real estate.

“”Our state’s growth is strongly affected by the international economic environment,” says Sean Snaith, director of the University of Central Florida’s Institute for Economic Competitiveness in Orlando.

“With its sunshine, beaches, easy access by air and competitively priced properties, Florida is an attractive destination for foreign buyers and investors.

“Studies by NAR consistently show that Florida ranks third behind California and New York in U.S. international sales. Historically, Canada, Europe, and South America have been the three biggest sources of foreign buyers in the United States, with a recent upturn in interest from China.

“Now, Chinese citizens can obtain business and tourist visas for 10 years rather than just one, making it easier for Chinese buyers and investors to spend more time in the United States including Florida.

“Global demand patterns vary from year to year, based on factors like currency exchange rates that make Florida properties less or more expensive for foreign buyers, as well as visas and tax regulations that affect international investors.

“Steve Cook, co-publisher and editor of “Real Estate Economy Watch”, expects an overall slowdown in international demand, partly because housing prices have rebounded strongly, following the 2009 recession. “Global buyers saw tremendous opportunities in buying distressed properties, especially along the Gulf Coast,” he says. “While we are not seeing that same level of interest today, there is still plenty of demand for resort properties, and prices are still affordable for buyers worldwide.”…

“Historically, French-speaking Canadians have bought homes along the I-95 corridor on Florida’s East Cost, while English-speaking Canadians have gravitated to the Gulf Coast along I-75…The Canadian dollar has been stronger than the U.S. dollar…Since Canada didn’t go through the banking crisis as the United States did six years ago, buyers feel confident about investing in Florida vacation homes…Exchanges are important to European buyers as well…

“While the United Kingdom is Florida’s biggest feeder market from Europe, demand from other countries fluctuates from year to year, depending on factors like convenient air connections, says Tan. “I have seen more activity from French buyers who want to invest in the U.S. for tax reasons, and from Dutch buyers looking for vacation homes on the Gulf Coast,” she says. “German buyers continue to be interested in Florida, and there has been an increase in vacation buyers from Scandinavia, thanks in part to a new flight from Sweden to Fort Lauderdale.”…Demand may lessen slightly due to the euro’s losing value again the U.S. dollar.”

Who’s Moving Here?

Also from “FloridaRealtor®” April 15:

“According to housing market firm RealtyTrac, interest in buying U.S. housing increased by 95% or more in 10 countries, and at least doubled in nine of these nations. RealtyTrac ranks the 10 countries where interest in buying American homes is on the rise.

United Arab Emirates – Growth in prospective homebuyers: 352.2% – While the country has just 9 million residents, it had more than 1,000 ultra-high-net-worth residents in 2014. Roughly 40% of the Emirates’ GDP was tied to oil and natural gas output, according to OPEC. Despite oil’s recent price declines, the number of ultra-high-net-worth residents has not declined.
Switzerland – Growth in prospective homebuyers: 269.7% – Helping to make U.S. properties more appealing, or at least more affordable, is the considerable appreciation of the Swiss franc against the dollar over the past five years, up nearly 27% in that time.
Hong Kong & China – Growth in prospective homebuyers: 254.2% – While China’s economy remains one of the fastest growing in the world, there are concerns about slowing economic growth and shadow banking activity in the country. Concerns about wealth protection may encourage wealthy Chinese residents to consider U.S. property.
France – Growth in prospective homebuyers: 190.0% – France had nearly 4,500 ultra-high-net worth residents as of 2014, more than in all but eight other countries globally. Many observers and residents have criticized President Francois Hollande’s socialist policy decisions and the resulting high taxes. A number of reports indicate that residents may be leaving the country due to high taxes and tough regulations.
Italy – Growth in prospective homebuyers: 178.4% – The faltering economy may encourage Italians to consider U.S. property as a relatively good investment. Italy is also home to a number of extremely wealthy citizens with the resources to invest globally.
United Kingdom – Growth in prospective homebuyers – 153.8% – The U.K. government’s Help to Buy program, which provides financial help to prospective homebuyers in the U.K., has drawn controversy. Detractors of the program have expressed concerns that home prices in the U.K. could rise to unsustainable levels. Thus, U.K. residents may see U.S. homes as a safe or profitable investment.
Austria – Growth in prospective homebuyers: 121.9% – The country’s strong economic growth likely contributed to the increased interest in buying U.S. property. Despite recent declines, the Australian dollar has gained considerably against the U.S. dollar, also contributing to the increased interest.
Canada – Growth in prospective homebuyers: 107.7% – The strength of the Canadian economy may have given residents more opportunities to invest. Some residents may also find U.S. properties attractive because some consider Canada’s housing market to be overvalued.
Sweden – Growth in prospective homebuyers: 100% – Many Swedes may consider U.S. property to be a good investment, especially as Sweden’s economy has been stagnant. Additionally, many Swedes might find U.S. home prices more affordable, as experts believe Swedish home prices are precariously high.
Germany – Growth in prospective homebuyers: 95.2% – Contributing to Germans’ ability to afford international property was the country’s high number of ultra-high-net-worth individuals in 2013, second only to the United States. Despite the weakness of the Eurozone economy and Germany’s slow growth, no major Eurozone country grew faster in 2013. However, interest in U.S. properties has tapered off recently.”

Some Ways International Buyers Can Own U.S. Real Estate

Speaking of those international buyers, “FloridaRealtors®” April 2015, also offers this info:

“Here are some common ways international buyers can structure ownership of U.S. real estate to reduce their estate tax burden. Of course, buyers should always seek counsel to determine which course of action is best for them:

Incorporation in a foreign jurisdiction. If the property has substantially appreciated in value since it was purchased, then a sale to a foreign corporation controlled by the nonresident alien or his/her family may be an option to eliminate exposure to estate taxes.
Buy life insurance. The proceeds of life insurance on the life of a nonresident alien are often not subject to estate tax and can provide liquidity to pay estate taxes.
Draft a qualified domestic trust, if the foreign owner is married, either during the nonresident alien’s lifetime or upon his/her death. This may allow estate taxes to be deferred until the death of the surviving spouse.
If other family members, such as adult children, are U.S. taxpayers, consider having them buy the property, perhaps subject to a mortgage in favor of the foreign parents.
Consider using a two-tiered (foreign & domestic) partnership arrangement if the value and sophistication of the investment merits the additional expenses involved in doing so.”

How SanibelSusan Realty Markets Globally

Global business begins with local relationships. Being a TRC (or Transnational Referral Certified) distinguishes SanibelSusan among over 2 million brokers and agents worldwide. It integrates referral business into my business plan and allows me to network through an international program, which also allows me to market myself and my listings on www.WorldProperties.com

This international network called The International Consortium of Real Estate Associations (ICREA), has resulted in the development of my own network of real estate professionals throughout the world who have personally selected me to be their real estate equivalent here on the islands. I currently have active agreements with 215 successful agents in ten different countries.

On the islands, just nine Realtors® also have earned their TRC. Only three of us are “Platinum” members of the group which gives our listings priority rankings, more visibility and translates them into the languages of the countries belonging to the consortium. Since my last name also begins with “A”, I am the top name on their island search list too (thank goodness for small favors like that).

Additionally, establishing a presence for international buyers through www.Proxio.com and www.Point2Homes.com has ensured that SanibelSusan listings make it around to the world to those searching for real estate in Florida.

Networking with other Florida colleagues is an important part of our global business too. Most Realtors® won’t give you a lead if they don’t know you, so when I am in Orlando each January and August at our FloridaRealtors® state meetings, I always make it a point to meet with other Realtors® with international clientele. Many of those in Miami and Orlando, where the global market is huge, know that SanibelSusan Realty is a go-to broker here for expert advice on SW Florida and island resources. (Here again my name helps, they remember SanibelSusan.) I have many life-long friends from years working on state committees and cherish their referrals.

My Friday island real estate blog brings international business too. This March showed the most readers to-date, with nearly 6,000 viewers. Subscribers in addition to those who sign up directly through the blog, others come through both Twitter and Facebook. I track the source of the readers, with 50% from Canada; 20% from United Kingdom; 15% Germany; 4% France; 2% each Australia, Sweden, Brazil; and 1% each Switzerland, Italy, Netherlands, Argentina, and United Arab Emirates.

Upcoming Island Events

21^st Annual Spring Festival – April 4, Saturday, sponsored by the Children’s Education Center of the Islands, event at the Sanibel Community Park (across the street from SanibelSusan Realty) from 9 to 11 a.m. Children are asked to bring an Easter basket for the FREE egg hunt at 9 a.m.

Relay for Life – April 10, Friday, at The Dunes Tennis & Golf Club, from 4 to 10 p.m., where cancer survivors and participants walk a loop with proceeds to benefit the American Cancer Society.

2^nd Annual Bob Janes Memorial Golf Tournament – April 14, Tues, at Shell Point Golf Club. As a former Sanibel Mayor, Lee County Commissioner, and friend through MOAA (Military Officers Association of America), Bob installed me as President of the local Association of Realtors® back in 1998. This event named in his honor raises funds to benefit various veteran charities, including Wounded Warriors of Southwest Florida. I know Bob would be proud to know that they hope to beat the $21K raised last year. 2015 goal is $30K.

Farewell to Katie

During the Lion’s Club Arts & Crafts Fair two Saturdays ago, I ran over to The Community Center to relay best wishes to long-time island restaurateur and artist, Katie Gardenia. She will be moving to North Carolina soon to live nearer her daughter and granddaughter. To say she will be missed here is definitely an understatement. Many know Katie as the former owner of The Bubble Room and another island restaurant, famous for her cakes. Others know she is an admired artist, doll-maker, collector, and an all-round gem of a gal.

Here are a couple of tidbits from Katie’s book “A Bubble Moment” as described in this week’s “Sanibel-Captiva Islander”. Those of you who remember the early days of “The Bubble Room” should get a kick out of these. Each of Katie’s books is unique and contains some of her famous recipes. I cherish my copy and bought another one from her that very day, along with another piece of special Katie art. If you get to Flat Rock, NC, look for her new studio there.

“Another hiring ad in the local paper; and this time a couple, husband and wife from California responded to the ad. (At that point I was exhausted and would have hired anyone or thing that said they could cook.) They were hired on the spot and lasted all of two months. They went sailing one day and never came back…I was now doing lunch, baking from scratch sesame hamburger buns, quiche and adding more desserts.
“I always wanted to be a girl scout, but only made it the “brownies”. I went on a hunt for an old girl scout uniform, and finally found one at the Ortiz flea market in Fort Myers. It had all the bells and whistles, badges included. So our first server was a “real” girl scout, and I just loved the whole idea “living vicariously, I guess)…We were threatened with a lawsuit. Ok, we’ll just forget the girl and go to the boy, i.e. boy scouts. So, the servers (four by then) were dressed in boy scout uniforms.
“One of my favorite back screen door visitors was Mr. Paul Walken (Christopher Walken’s father)…he came to the screen door one day. I was baking: cakes were lined in rows ready to be frosted, icing in large bowls, dough rising, homemade bread waiting to be brushed with egg whites and popped into the ever-burning ovens. “Smells good in here. May I enter?”…he watched and said, “You don’t know the secret, do you.”
“I was baking my first batch of sticky rolls, and out of the corner of my eye I saw at the screened door a tall man with striped pajamas and a worn robe on, holding what looked like a skinned cat. Oh no, help me!”…you must be Mr. Rosse, Andy.” “Yep, that’s me, and I’m here to trade you this here possum for some of those sticky buns – SIX!” “What in the world do I do with a possum,” I asked. “Well, you boil it, of course.” (he said)”

Sanibel & Captiva Multiple Listing Service Activity Mar 27-Apr 3

Sanibel

CONDOS

2 new listings: Captains Walk #F3 2/2 $289,982; Blind Pass #B209 3/2.5 $549K.

3 price changes: Blind Pass #E206 2/2.5 now $419.5K, Cottage Colony West #102 1/1 now $649.9K, Tanglewood #1A 3/2 now $1.124M.

1 new sale: Lighthouse Point #127 3/2 listed for $699.9K.

6 closed sales: Colonnades #11 1/1 $180K, Captains Walk #E5 2/2 $285K, Sanibel Siesta #701 2/2 $494K, Sandalfoot #5C1 2/2 $665K (our Seller), Loggerhead Cay #522 2/2 $670K, Blind Pass #G105 3/3 $700K.

HOMES

4 new listings: 750 Martha’s Ln 3/2 $579K, 1409 Albatross Rd 3/2 $595.9K, 1445 Causey Ct 3/2 $849.9K, 863 Lindgren Blvd 3/2 $999K.

5 price changes: 1322 Sand Castle Rd 3/2 now $560K, 220 Palm Lake Dr 3/3 now $575K, 6019 Clam Bayou Ln 4/3 now $1.185M, 1138 Harbour Cottage Ct 3/2.5 now $1.195M, 2981 Wulfert Rd 4/4.5 now $1.54M.

4 new sales: 828 Rabbit Rd 2/1 listed for $399K, 5089 SanibelCaptiva Rd 3/2 listed for $489.9K (short sale), 9445 Beverly Ln 3/2 listed for $775K, 190 Violet Dr 3/2.5 listed for $1.05M.

3 closed sales: 240 Southwinds Dr 3/2 $480K, 1854 Farm Trl 3/2 $565K, 1075 Blue Heron Dr 3/2 $600K.

LOTS

1 new listing: 1815 Ardsley Way $197,555.

No price changes.

2 new sales: 9426 Sage Ct listed for $229,555, 2324 Starfish Ln listed for $449K.

2 closed sales: 1299 Par View Dr $212K, 6411 Pine Ave $320K.

Captiva

CONDOS

2 new listings: Beach Villas #2517 1/1 $508.5K, Marina Villas #706 2/2 $625K.

3 price changes: Beach Villas #2417 1/1 now $520K, Sunset Beach Villas #2325 2/2 now $579K, Beach Homes #3 3/2 now $1.879M.

1 new sale: Sunset Beach Villas #2335 3/3 listed for $829K.

No closed sales.

HOMES

1 new listing: 19 Urchin Ct 2/2.5 $889K.

3 price changes: 11535 Wightman Ln 3/3 now $1.2M, 11535 Chapin Ln 4/4 now $1.449M, 11516 Andy Rosse Ln 6/6 now $2.349M.

1 new sale: 15879 Captiva Dr 3/3 listed for $2.695M.

1 closed sale: 43 Oster Ct 2/2.5 $730K.

LOTS

Nothing to report.

Happy Easter!

Susan Andrews, aka SanibelSusan

Another Sunny, Make You Smile Kind of Friday on Sanibel & Captiva Islands

Posted on March 20, 2015 by SanibelSusan

Another Friday here already? How can it be? It may be that with the onset of spring, a few winter residents are leaving Southwest Florida. At my off-island dry cleaners last night they said they saw a huge drop in business this week. We haven’t seen much of a drop on the islands though. Traffic continues to be a challenge and our pals in the rental business say there will be another big turn-over of vacationers tomorrow.

Office Happenings This Week

Season is flying by with The SanibelSusan Team’s time this week filled with showings, opening listings for showings, chasing down feedback, tracking tenants, updating pro forma/fliers, home inspections, monitoring contracts, and even a couple of listing presentations. Not the usual time of the year for new listings, but as the saying goes, “it pays to be the first born, the second wife, and the third listing agent.” I expect we have a couple of those to announce in the weeks to come. (“Those” being new SanibelSusan listings, as the first two requirements of that saying are already met.).

Photos below taken by Dave from his cell phone from the roof of Bldg 1 at Seascape during the home inspection this afternoon by Ron Dehler, Horizon Home Inspection Service. It’s a gorgeous beach day!

The week’s activity posted in the Sanibel and Captiva Islands Multiple Listing system is after a few other news items.

Sanibel & Captiva Islands Association of Realtors® March Membership Meeting

Good sales activity and again several price reductions were announced at our March Association of Realtors® Breakfast Meeting yesterday. There were two speakers at our meeting, both home inspectors. Their topics were radon and formaldehyde. Here are a few tidbits from their presentations:

Radon: Radon is the 2^nd largest cause of lung cancer (smoking being first). The results of radon testing are tracked by state Departments of Health & EPA facilities. Interestingly the inspector, Adam Dalton with AmeriSpec, said that of the radon tests performed in Lee County 28.8% tested high for radon. (What is not known is how many are not tested. From my experience that answer is “many” or the majority by far.) He also said that the most radon has been found in high-rise condos. The composition of the concrete in the basic structures being the culprit. He also offered that the typical wood piling home on Sanibel with open lower level is probably the least likely to have a problem because this gas likely would dissipate because of the airspace below. When asked if granite – so popular in today’s remodels can be a cause – he said, “yes”. He also said that airing out a property before a radon test (rather than leaving it closed up for 12 hours as the test requires) will not produce a better reading, because the test protocol does not begin counting the test measurements until 4 hours into the test. The test is over an extended period (usually several days) and hourly records the amount of radon gas, temperature, pressure, and humidity. He also said that radon readings are usually higher during rain when the gas moves up.
Formaldehyde: Jonathan Tongyai with SanCap Inspections spoke on this subject. He said the formaldehyde scare is fairly new. As recently reported in a segment of “60 Minutes”, a synthetic wood floor product sold by Lumber Liquidators has tested high for formaldehyde. The company has been accused of selling contaminated laminated flooring made in China. As this inspector said, when in doubt have a test performed, but usually the smell is obvious when the product is new. Common sense should prevail for the consumers and inspectors, but when in doubt, test.

Florida Association of Realtors® 2015 Honor Society: At the same meeting, several Realtors® from our Association were presented with Florida Realtors® Honor Society pins. Local Association President Eric Pfeifer reminded members that only 20 of our 291 Sanibel/Captiva Realtor® members achieved local Honor Society status for their work in 2014, so to have several members also achieve state recognition is huge. He then prefaced announcing that this is my 16th-year in Florida’s state Honor Society, by saying SanibelSusan is an old-timer. He can expect pay-back for that. Others in attendance and also receiving that state recognition are shown in the photo below: Jim Hall, yours truly, Eric Pfeifer, Toby Tolp, David Schuldenfrei, and Shane Spring. Congratulations to all!

Favorite Refuge: Vote ‘Ding’

“Ding” Darling counts among the top 20 contestants for Favorite National Wildlife Refuge in USA Today’s Readers Choice Awards and is currently in 2^nd place. They need our daily votes. Click here to vote once a day until noon on Monday, March 30, 2015. We know “Ding” Darling is the best, help them let the whole country know!

The Families Have Voted: These Are Their Favorite Destinations

Many locals have remarked this year that “since the islands keep making those lists, more people have come, and that’s why the traffic is so bad in-season.” If that’s the case, here’s yet another one. I saw the below article posted by Yahoo’s Travel Editor on-line yesterday.

“Sanibel, Fla., with its abundant seashells, was named the top overall family attraction. (Photo below by: Thinkstock)

“If you’re thinking of a family trip and wondering where in the U.S others are taking the kids these days, one survey suggests they favor an itinerary like this: picking up seashells on a small Florida island, observing animals in a rain forest, and of course, eating at the Cheesecake Factory.

“FamilyFun magazine just announced its travel awards, the result of polling 2,000 American families to rate their favorite destinations across five categories. The top overall winner was Sanibel, Fla., an island town with ample white beaches and seashells, and the power to chill out even the most high-strung parents and kids. The magazine reports one Texas mom as saying, “It’s just a relaxing place that lets kids be kids.”

Also ranking in the top three for favorite tourist towns were Gatlinburg, Tenn., and Savannah, Ga….”

50^th Anniversary of Island Water Association

If you have not taken a tour of the Island Water Association facility on San-Cap Road, be sure and add it to your “do list”. SanibelSusan has toured it several times and always found the whole process of producing island water to be fascinating and the facility to be amazingly clean! Here is some info from the “IWA Pipeline” Spring 2015 edition:

“This year marks 50 years of The Island Water Association providing fresh drinking water to its members. IWA was incorporated on January 19, 1965, as a not-for-profit association (501(c)4) whose purpose was “To construct, maintain, and operate a water system for the supplying of water for domestic, commercial, agricultural, industrial, and other purposes to its members….” Its founders and first Board of Directors were John Kontinos, E. G. Konrad, C. Smith Kauffman, Francis Bailey, and Paul Stahlin.

“IWA’s first franchise agreement was granted by Lee County in July of 1965. Our first water supply came from the Pine Island Water Treatment Plant via an 8” subaqueous pipe laid across the bay from St. James City to the end of Dixie Beach Rd. The pipe and all valving are still in place, but leaks in the pipe prevent its use. Our last gallon of usable water from Pine Island was obtained in 1983.

“By 1972, IWA realized it needed its own supply of water, as the 8” line from Pine Island was becoming insufficient to meet demand, and the price of bulk water was becoming prohibitive. An Electro-Dialysis plant was completed in 1973, drawing well water from the Hawthorn aquifer. It was able to produce around 1MBD of water, which served the population throughout the 1970’s. In the late ‘70’s, it was obvious the ED plant would not keep up with current population growth, so a reverse osmosis plant was commissioned on the present day site of IWA. It opened in 1980, originally producing about 1MGD, adding to the ED plant production. When the RO Plant was up to full production by 1992, the ED plant was shut down forever. The RO Plant is now capable of producing around 5.9MGD, although current demand is around 3.3MGD. It draws its feed water from 14 active production wells.”

Island Water Meter Access

Following up on the article above, here is a real-estate related article from the same IWA newsletter.

“When a new home is built on Sanibel or Captiva, or a water meter is upgraded due to a home remodel, the Island Water member must sign a Water Users Agreement. Item C.6 of the agreement states: “The Member shall keep an area clear and accessible for 2 feet on all sides of the water meter and backflow prevention device.” Before we changed all of our meters to radio read meters, Scott, our meter reader, had to hand read every meter, and often had to trim overgrown vegetation to access the meter. With the new remote read meters, inaccessible meter boxes and backflow devices have now become a problem for our Distribution Technicians when there is an issue that demands access to the meter or backflow device, such as high usage or a leak. Also, as a courtesy to our members, our technicians test the backflow devices on a semi-annual basis. We are the first to admit that we are not landscape experts, so we would prefer the homeowner maintain the 2’ radius surrounding the meter and backflow device. In addition, please make sure we have a clear path 3’ wide and 7’ tall to the meter and backflow device. Thanks!”

Is That Closet Worth More Than a Prime Location? Apparently Yes!

Sometimes the articles posted in real estate trade journals are not a fit for our island resort community, so it was with interest that I saw the above headline in an article in the March on-line REALTOR® Magazine. Of course location remains the most, if not one of the most, important considerations in Sanibel and Captiva real estate. Here, it is all about, location, location, location.

The rest of the article had some valid points, however. Island buyers are looking for these things too, just perhaps not as a compromise to location:

“So what features are so important that they are willing to make such big sacrifices as the location of the home? Here are the top items that home owners said they’d be willing to make sacrifices on location in order to have:

Move-in ready home: 64%
At least one bathtub in a home: 54%
More space than their current residence: 51%
His and her closets: 23%
Spa-like master bedroom: 23%
Large eat-in kitchen area: 23%
Kitchen island: 22%

“In addition to the more common home options, we’re starting to see regional trends emerging among homebuyer preferences,” says Ryan Marshall, executive vice president of homebuilding operations, marketing and sales for PulteGroup. “From outdoor kitchens in Florida, to spice kitchens in California, shoppers are increasingly discerning when it comes to home features that could be the deciding factor in their next move.”

Other popular regional trends the survey identified were accordion-style glass doors in the Southwest; multi-generation floor plans and screened-in porches in the Southeast; balconies off the kitchen and rooftop terraces in the Northeast; and “Jack n’ Jill” bedrooms and coffee bars in the Midwest.

“Overall, the most important areas to home buyers when choosing a new home: kitchen (29%), bedroom (22%), and living room (18%).”

Free Homeowners’ Seminar – Insurance Panel

The Sanibel and Captiva Islands Association of Realtors® is sponsoring a free seminar at The Community House on Wednesday, March 25, from 10 to 11:45 am. Information will be provided by a panel of Association Affiliate Members who work in the insurance field. Enjoy coffee at the “meet and greet” from 10-10:15, followed by the seminar from 10:30-11:45. Join these seasoned insurance professionals for updates and answers to important questions and news on properly insuring your home and valuables. Featured speakers are: David Arter with Private Client Insurance Services, LLC; Chris Heidrick with Heidrick & Company Insurance; Angela Roehl with Rosier Insurance; and Dawn Zettler with Insurance and Risk Management Services.

Sanibel – New Residents’ Reception

Hosted by Sanibel Mayor Kevin Ruane and City Councilmembers Mick Denham, Chauncey Goss, Marty Harrity, and Jim Jennings, new residents of the island (within the past 24 months) are invited to attend a New Residents’ Reception at City Hall on Thursday, April 9, from 9 to 11 a.m. Please RSVP by April 3 to sancouncil@mysanibel.com or 239-472-3700.

Sanibel & Captiva Multiple Listing Service Activity Mar 13-20

Sanibel

CONDOS

3 new listings: Cottage Colony West #102 1/1 $649,946; Coquina Beach #2C 2/2 $729K; Seascape #201 3/3 $1.849M.

5 price changes: Sanibel Arms #E7 1/1 now $365K, Sundial #O201 2/2 now $699K, Sundial #F201 2/2 now $799K, Compass Point #111 2/2 now $1.95M, Sanibel Sunset #202 3/2 now $1.745M.

5 new sales: Colonnades #11 1/1 listed for $195K, Spanish Cay #B2 2/2 listed for $394K, Sanibel Siesta #701 2/2 listed for $525K, Beachcomber #C102 2/2 listed for $1.575M, Sedgemoor #206 3/3.5 listed for $2.499M.

7 closed sales: Sundial #F406 1/1 $329K, Sanibel Arms West #G5 2/2 $490K, Seawind II #2 2/2.5 $635K, Sundial #Q205 3/2 $800K, Kings Crown #317 2/2 $920K, Gulfside Place #125 2/2 $1.17M, Yacht Haven #1 3/2 $1.5M.

HOMES

4 new listings: 9248 Dimmick Dr 3/3 $649.9K, 5749 Pine Tree Dr 3/3 $749K, 1237 Isabel Dr 5/6.5 $2.995M, 1306 Seaspray Ln 3/4 $4.195M.

10 price changes: 4636 Buck Key Rd 2/2 now $419K, 220 Palm Lake Dr 3/3 now $580K, 2220 Camino Del Mar Dr 3/3 now $599K, 9012 Mockingbird Dr 3/2 now $619K, $603 N Yachtsman Dr 3/2 now $670K, 1182 Kittiwake Cir 3/3 now $699K, 9445 Beverly Ln 3/2 now $775K, 1528 Angel Dr 3/2 now $799.5K, 1048 Fish Crow Rd 3/2 now $815K, 1204 Isabel Dr 3/3.5 now $3.895M.

8 new sales: 1677 Sabal Sands Rd 3/2 listed $440K, 257 Daniel Dr 3/2 listed for $649K, 3131 Twin Lakes Ln 3/2 listed for $689K, 2210 Camino Del Mar 3/2 listed for $695K, 6101 Castaways Ln 4/2 listed for $850K, 820 Sand Dollar Dr 3/2 listed for $989K, 4308 West gulf Dr 3/3.5 listed for $1.879M, 1136 Golden Olive Ct 4/4.5 listed for $2.4M.

9 closed sales: 918/920 Main St 5/5 multi-family $380K, 320 Palm Lake Dr 2/2 $424K, 1613 Sand Castle Rd 3/2.5 half-duplex $455K, 739 Elinor Way 3/3 $550K, 218 Daniel Dr 2/2.5 $750K, 3840 West Gulf Dr 3/2.5 $849K, 1287 Par View Dr 3/2 $865K, 836 Sand Dollar Dr 3/2/2 $1.195M, 561 Lighthouse Way 5/4 $1.75M.

LOTS

3 new listings: 915 Main St $199K, 2133 Starfish Ln $399K, 2479 Harbour Ln $599K.

No price changes.

3 new sales: 1299 Par View Dr listed for $229K, 6411 Pine Ave listed for $339,999, 2494 Blind Pass Ct listed for $649K.

1 closed sale: 2403 Blue Crab Ct $470K.

Captiva

CONDOS

No new listings or price changes.

2 new sales: Bayside Villas #5222 1/2 listed for $322K, Lands End Village #1654 3/3 listed for $1.685M.

3 closed sales: Tennis Villas #3232 2/2 $440K, Gulf Beach Villas #2012 2/2 $583.5K, Captiva Shores #5C 2/2 $837.5K.

HOMES

No new listings.

4 price changes: 16785 Captiva Dr 4/3.5 now $1.63M, 11500 Chapin Ln 4/4.5 now $1.995M, 15009 Binder Dr 4/5.5 now $3.75M, 11530 Paige Ct 4/5.5 now $4M.

No new or closed sales.

LOTS

No new listings, price changes, or new sales.

1 closed sale: 16915 Captiva Dr $1.195M.

Until next Friday, here’s hoping your weekend is sunny too.

Susan Andrews, aka SanibelSusan

A Cold Snap, But Still Happy Visitors on Sanibel/Captiva Islands

Posted on February 20, 2015 by SanibelSusan

It is a crisp but sunny Friday on Sanibel. With some record cold temperatures in Southwest Florida last night, islanders are happily enjoying a warm-up to the low 60’s today. It is expected to be back to the mid-70’s tomorrow and through the weekend.

Happenings at SanibelSusan Realty

There was good sales activity on both Sanibel and Captiva over the last few days, we had one listing go under contract and another sale close, but our requests for showings are down from last weekend, mostly because there are long-term tenants in many of the properties we have listed.

Near-beach home sales continue to dominate the market as baby boomers continue to transition from income-producing condos to more residential properties.

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

Sanibel’s Vegetation Standards Protect Homeowners

Good reminders from the City – good for sharing – came with recent quarterly sewer bills. Below is the one titled “Sanibel’s Vegetation Standards Protect Homeowners”:

“For decades, Sanibel residents have sought to maintain the island’s sanctuary character by protecting our native environment. To help in this effort the City has adopted vegetation standards for homeowners and businesses. These include:

A requirement that at least 75% of all vegetation (trees, shrubs, and ground cover) on a property be native plants; up to 25% may be non-invasive, exotic species.
Property must be kept clear of 8 specific invasive exotic plants such as Brazilian pepper.
Pruning of native plants is limited to 25% of the total leaf area in any one year.
The type and use of fertilizer is carefully regulated to protect our water. This includes a ban on fertilizer use during the summer rainy season.
A permit is always required to trim mangroves, to trim in the beach zone (dune), and to move or remove any native protected plant.
All landscape contractors or persons hired to work on landscape must have a Sanibel Vegetation Competency Card. All professional fertilizer applicants must also be certified by the City.

“Native plants survive and thrive in our highly variable weather conditions (summer heat and rain and winter droughts), alkaline soil and proximity to salt water. They require little or no supplemental irrigation, do not need fertilizer and provide habitat for native wildlife.

“The Natural Resources Department section of the City’s website, www.mysanibel.com, offers information and photos of native plants, a listing of licensed contractors, Sanibel’s vegetation standards and codes, the Environmental reference Handbook prepared by the City’s Vegetation Committee, and much more. The Vegetation Committee also offers free native plant tours of the grounds at City Hall at 10 a.m. on the 2^nd Wednesday and 4^th Saturday of the month from November to April. Additional information is available by contacting the Sanibel Natural Resources Department at (239) 472-3700. “

Move Inc. Ready to Take on Zillow-Trulia

Wednesday’s “Daily Real Estate News” had the latest on the Zillow-Trulia merger. It’s going to be an interesting year:

“The real estate portal space is heating up with Zillow and Trulia finalizing their merger Tuesday. The number of major competitors serving this market has been reduced to two big titans: Move Inc., which operates realtor.com®, and Zillow-Trulia.

“Following the Zillow-Trulia announcement, Move released a statement saying, “2015 will mark Zillow’s year of the merge and realtor.com®’s year of the surge.”

“In an e-mail yesterday to Move employees, CEO Ryan O’Hara elaborated. “My expectation is that the two of us will wage a spirited battle for the hearts and minds of consumers and the industry, and we will push each other to be better performers – more focused on the customer, quicker to innovate, more committed to adding value at every stage of the real estate cycle. In this way, everyone wins.”

“Zillow finalized its acquisition of Trulia Inc. for $2.5 billion in a stock-for-stock transaction Tuesday. The acquisition forms Zillow Group Inc., which also houses New York-based StreetEasy and rental search brand HotPads. The company faces increased competition now that realtor.com®’s operator has the force of News Corp behind it. This past November the global media company, which operates real estate portals internationally and owns such titles as The Wall Street Journal and Barron’s completed its acquisition of Move Inc., tying its name to the REALTOR® brand.

““There is no digital replacement for the human touch,” Rupert Murdoch, executive chairman of News Corp said during the Real Estate Connect conference in New York in January. “No technology can meet all of someone’s needs. It takes a real person. … We want the shortest distance between the American Dream and a family’s reality to be realtor.com®.”

“The acquisition has already proved a boon to Move’s traffic. Move Inc.’s web and mobile traffic jumped more than 30%. In January, Move reported an all-time high of 37 million unique visitors to realtor.com®.

“Move/realtor.com® is extremely well-positioned to compete and thrive in this environment of industry consolidation and data-driven customers,” O’Hara said in his e-mail to employees. “Competing in business typically involves trying to be better, cheaper, faster or different than your competition. How will we compete? By continuing to build the best web and mobile experiences for consumers and the best and most valuable tools for brokers and agents, and by providing the market with the most comprehensive, most accurate, and most up-to-date listings in the U.S. I can also promise you we will quicken the pace of product innovation and apply more marketing muscle to our consumer and industry outreach.””

Sanibel & Captiva Multiple Listing Service Activity Feb 13-20

Sanibel

CONDOS

4 new listings: Sundial #I301 1/1 $389K, Sundial #F303 2/2 $495K, Sundial #S404 3/2 $837K, Kings Crown #101 2/2 $1.195M.

10 price changes: Casa Blanca #6 1/1 now $254.9K, Sunset South #9D 2/2 now $399K, Mariner Pointe #813 2/2 now $469K, Ibis at The Sanctuary #201 2/2 now $475K, Blind Pass #G203 2/2 now $495K, Blind Pass #G203 2/2 now $495K, Sundial #R304 2/2 now $799K, Pointe Santo #B46 2/2 now $825K, Tanglewood #1A 3/2 now $1.149M, Sedgemoor #206 3/3.5 now $2.499M.

4 new sales: Sundial #C306 1/1 listed for $329K, Sanibel Siesta #105 2/2 listed for $424.5K, Donax Villlage #8 2/2 listed for $449K, Seawindd II #2 2/2.5 listed for $685K.

2 closed sales: Seashells #15 2/2 $319.5K, Sandpebble #3C 2/2 $327K.

HOMES

8 new listings: 475 Sea Walk Ct 3/2 $524.9K; 1322 Sand Castle Rd 3/2 $565K; 580 Chert Ct 2/2 $580K; 4241 Old Banyan Way 3/2 $779K; 755 Pen Shell Dr 3/2 $899K; 1328 Seaspray Ln 4/4 $998,995; 1253 Anhinga Ln 4/4 $3.9M; 4241 West Gulf Dr 5/4.5 $3.995M.

14 price changes: 702 Donax St 2/2 now $399K; 982 Main St 3/2.5 multi-family now $445K; 1521 Wilton Ln 3/2 now $549K; 1228 Anhinga Ln 3/2 now $629K; 987 Sand Castle Rd 4/3.5 now $699K; 5406 Osprey Ct 3/2 now $729K; 1291 Sand Castle Rd 5/3.5 now $779K; 5424 Shearwater Dr 3/2.5 now $859K; 1188 Harbour Cottage Ct 3/3 now $925,555; 1138 Harbour Cottage Ct 3/2.5 now $1.295M; 375 East Gulf Dr 4/3 now $1.395M; 842 Limpet Dr 4/3.5 now $1.495M; 830 Limpet Dr 4/4.5 now $1.645M; 1490 Middle Gulf Dr 3/4.5 now $1.795M.

11 new sales: 1613 Sand Castle Rd 3/2.5 half-duplex listed for $449K, 744 Martha’s Ln 2/2 listed for $479K (our Seller), 475 Sea Walk Ct 3/2 listed for $524.9K, 1294 Sand Castle Rd 3/2 listed for $529K, 3168 Twin Lakes Ln 3/2 listed for $549.9K, 728 Windlass Way 3/2 listed for $649K, 248 Daniel Dr 3/2 listed for $749K, 8999 Mockingbird Ln 3/2 listed for $775K, 2582 Wulfert Rd 3/3.5 listed for $789K, 4037 Coquina Dr 3/3 listed for $799K, 1056 Sand Castle Rd 3/2 listed for $899K.

4 closed sales: 999 Dixie Beach Blvd 3/2 $585K, 1337 Eagle Run Dr 3/2.5 $1.025M, 6440 Pine Ave 3/3 $1.0875M (our Buyer), 1520 San Carlos Bay Dr 4/3.5 $1.92M.

LOTS

2 new listings: 540 East Lake Dr $197K, 3354 Barra Cir $319K.

1 price change: 6419 Pine Ave now $799K.

4 new sales: 9426 Sage Ct listed for $229,555; 3792 Coquina Dr listed for $329K; 6411 Pine Ave listed for $329,999; 4988 Joewood Dr listed for $459K.

No closed sales.

Captiva

CONDOS

1 new listing: Captiva Bay Villas #B 3/3.5 $2.095M.

1 price change: Gulf Beach Villas #2031 2/2 now $645K.

1 new sale: Gulf Beach Villas #2012 2/2 $615K.

1 closed sale: Beach Homes #18 4/3 $2.34M.

HOMES

2 new listings: 1105 Tallow Tree Ct 3/3 $2.195M, 16464 Captiva Dr 8/8.5 $7.495M.

No price changes.

2 new sales: 11491 Dickey Ln 4/4 listed for $1.799M, 17020 Captiva Dr 7/8/2 listed for $6.75M.

1 closed sale: 15301 Captiva Dr 4/3.5 $1.9625M.

LOTS

No new listings.

2 price changes: 956 South Seas Plantation Rd now $2.49M, 15879 Captiva Dr now $2.695M.

No new or closed sales.

Until next Friday, here’s a nice flock of roseate spoonbills to keep things cheerful!

Susan Andrews, aka SanibelSusan

Real Estate New Year Begins on Sanibel & Captiva Islands

Posted on January 2, 2015 by SanibelSusan

It’s SusanSusan reporting that it has been another busy holiday week on the islands. The check-ins last Saturday brought island occupancy to as close to 100% as I remember and the “day trippers” early in the week added to the traffic madness. The traffic tie-ups subsided as the week as progressed. Likely things will get back to normal tomorrow when the New Year revelers check out and head back home. Following a few general news items below is the activity posted in the Sanibel & Captiva Islands Multiple Listing Service over the past seven days.

Happenings at SanibelSusan Realty

We had a handful of showing requests this week, though not many, considering the traffic. Our colleagues report the same, indicating that many here during holidays make the trip to have fun and enjoy the islands. Experience shows that more serious lookers will be here later in the month, then it should stay hoppin’ until Easter.

Next week our Association of Realtors® is back to their Thursday morning meeting schedule (Jan 8^th), following which our two new east-end listings, 9477 Peaceful Drive and Sundial Resort #R401, will be open for Realtor® Caravan from 9 a.m. until noon. 5743 Baltusrol Court will be on Caravan the following week (Jan 15^th), when the tour rotates to west end.

Sanibel & Captiva Islands Real Estate Statistics

Below is a comparison of how island sales in 2014 stack up with the previous two years. Current inventory and properties under contract, but not yet closed, also are included. Real estate market recovery here continues at a nice solid pace.

SANIBEL CONDOS HOMES LOTS

Avg. Avg. Avg. Avg. Avg. Avg.

# Price DOM # Price DOM # Price DOM

Available 120 $716,119 436 152 $1,259,596 266 84 $512,690 802

Pending sales 20 $640,848 256 32 $976,767 305 6 $497,250 598

Sold/closed in:

2014 163 $653,365 287 205 $841,055 265 27 $424,198 495

2013 161 $573,557 326 197 $910,321 287 26 $416,502 475

2012 151 $551,244 407 183 $823,598 289 33 $487,687 521

CAPTIVA CONDOS HOMES LOTS

Avg. Avg. Avg. Avg. Avg. Avg.

# Price DOM # Price DOM # Price DOM

Available 37 $868,603 432 48 $3,598,835 336 7 $2,510,000 292

Pending sales 2 $640,000 24 2 $6,125,000 231 0 N/A N/A

Sold/closed in:

2014 22 $624,068 421 23 $2,826,717 364 0 N/A N/A

2013 36 $659,185 421 18 $2,522,056 355 2 $675,000 1,080

2012 35 $836,129 381 26 $1,536,019 609 3 $1,221,667 208

Island Events

If you are on island and looking for things to do, be sure and check out the additional and varied programs and events being offered this year. The “Upcoming Events” tab above brings up a calendar list. I have updated it to include the new 2015 education programs at CROW.

Upcoming Audubon lectures at The Community House will be added as they are advertised too.

Captiva Beach to Be Tilled

As part of the conditions of the beach renourishment project on Captiva that finished up last year, the renourished beach must be tilled at the end of the project and for three years after.

Tilling lessens the impact of compacted sand on sea turtle nesting and hatching activities as turtles like soft sand for digging their nests.

The first tilling was done last December at the end of the project. The next one is scheduled to begin January 5, so as not to interfere with piper plover nesting which begins February 1 and sea turtle nesting which begins May 1.

The project will do the renourished portion on Sanibel first, then move to the north end of Captiva. From there, it will work south toward Blind Pass. The entire process is expected to take just a week, working from dawn to dusk, weather permitting. Residents and beach goes are required to remove all obstructions from the beach during the process and to stay a safe distance away from the tractor which is performing the work. See more info at www.mycepd.com

Legal Hot Line Re: Full Disclosure

Florida Realtors® Legal Hot Line often posts questions and answers in their magazine. Here’s a good one from the Jan/Feb 2015 edition:

“What are the minimum facts that a seller of residential property is required to disclose to a buyer in Florida when completing a seller’s disclosure form? The Florida Supreme Court held, in Johnson vs. Davis, that a home seller who knows of facts materially affecting the value of the property, which are not readily observable and are not known to the buyer, is under a duty to disclose them.”

Law & Ethics

Here is some additional info from the same Florida Realtors® mag. This article is geared toward a Realtor® reader, but this info is important for Buyers and Sellers too.

“Are you the selling agent of a fully furnished home? If so, that sale may be subject to sales tax, which your broker is obligated to collect. While the sale of real property in Florida is not subject to sales tax, a sale that includes tangible personal property may be. If sales tax is due, the Florida Department of Revenue (DOR) requires the seller’s broker to register as a dealer and collect and remit the tax.

“Whether sales tax is owed depends on how the transaction is structured. Sales tax is due when the personal property items, such as furniture, artwork, lamps and area rugs, are listed separately in the purchase sale contract, bill of sale or other document…A real estate broker is obligated to collect sales tax only when the tangible personal property is described and priced separately. The total sales tax collected must include both the state 6% sales tax and the applicable discretionary sales surtax, if any, levied in the county where the property is located….”

Top Real Estate Stories of 2014

From Florida Realtors® on-line:

“The real estate industry changed in 2014 – in some ways, significantly. Florida Realtors® has put together its annual recap of the top news stories that impacted Florida’s real estate….

http://www.floridarealtors.org/NewsAndEvents/2014-Top-News-Stories.cfm “

Sanibel & Captiva Multiple Listing Service Activity December 26-January 2

Sanibel

CONDOS

4 new listings: Sanibel Arms #E7 1/1 $380K, Blind Pass #A102 2/2 $439K, Sundial #A301 2/2 $869.9K, Kings Crown #216 2/2 $940K.

1 price change: Sedgemoor #206 3/3.5 now $2.675M.

4 new sales: Sundial #D307 1/1 listed for $239K, Captains Walk #A2 1/1 listed for $245.9K, Sanctuary Golf Villages I #6 2/2.5 listed for $684K, Gulf Beach #102 2/2 listed for $749K.

1 closed sale: Sundial #G101 2/2 $420K.

HOMES

2 new listings: 1188 Harbor Cottage Ct 3/3 $945,555; 518 N. Yachtsman 3/3 $1.2M.

4 price changes: 2407 Shop Rd 2/1 now $320K, 1825 Ardsley Way 3/2 now $515K, 3168 Twin Lakes Ln 3/2 now $559K, 5076 Joewood Dr 3/2 now $949K.

3 new sales: 320 Palm Lake Dr 2/2 listed for $424K, 1130 Seagrape Ln 4/3 listed for $827K, 5721 SanCap Rd 3/3/2 listed for $1.595M.

4 closed sales: 1426 Causey Ct 3/2 $670K, 501 Sea Walk Ct 3/2 $790K, 1717 Jewel Box Dr 3/3.5 $1.7M, 1520 San Carlos Bay Dr 4/3.5 $1.92M.

LOTS

Nothing to report.

Captiva

CONDOS

Nothing to report.

HOMES

1 new listing: 16183 Captiva Dr 4/3.5 $3.995M.

No price changes.

1 new sale: 16428 Captiva Dr 7/8/2 listed for $9.5M.

No closed sales.

LOTS

1 new listing: 15879 Captiva Dr $2.995M.

No price changes, new or closed sales.

HAPPY NEW YEAR!

Until next Friday,

Susan Andrews, aka SanibelSusan

It’s Almost Christmas & Real Estate is Selling on Sanibel & Captiva Islands

Posted on December 19, 2014 by SanibelSusan

The island is expected to have many holiday vacationers and visitors arriving tomorrow, with even more coming the following Saturday. Weather is forecast to remain sunny and in the mid to high 70’s during the day until Christmas when a dip to the mid 60’s is expected. Perfect holiday weather!

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

SanibelSusan Realty Happenings

Island real estate activity slowed down considerably earlier this week as folks prepare for the holidays. Yesterday, we had a flurry of calls which resulted in a couple of new listings being posted soon. Thank goodness for internet advertising, as the local newspaper deadline has already passed for Christmas, so these new properties will appear in print locally in the New Year edition.

Tuesday morning SanibelSusan attended the local kick-off meeting for the 2015 Sanibel & Captiva Islands Association of Realtors® leadership team. I will chair the Association’s Grievance Committee next year. Luckily, it is one of those committees that (here on Sanibel and Captiva) is needed about as often as the Maytag repairman – hardly ever. The Grievance Committee receives ethics complaints and arbitration requests from members and the public to determine if taken as true on their face, a hearing is to be warranted.

On Wednesday morning, I also attended the requisite annual training from Florida Realtors® for all Grievance and Professional Standards committee members.

December Membership Meeting – Sanibel & Captiva Islands Association of Realtors®

Yesterday was our island Association of Realtors® general membership meeting which included a cookie swap (that was a first) and a presentation encouraging more members to get involved in 2015. I have always found that volunteering time and energy to your profession comes back in business and future success, so hopefully with the economy rebounding and subsequently our Association growing again, some industry newbies will be motivated by what they heard.

The Association’s 2014 Honor Society recipients were announced at this meeting. There were 22 Sanibel & Captiva Island Realtors® who earned the award this year. That’s my magic number, as I made it again for the 22nd year in a row.

With the next two Thursdays being holidays, the next Association of Realtors® Caravan of new listings will not be until January 8 when it’s an East-end caravan.

Bennett’s Expands Hours & Menu

Bennett’s Fresh Roast has extended its hours and menu offerings at its Sanibel shop, 1020 Periwinkle Way, including the addition of Artisan Gelato by Norman Love. Now open from 6 a.m. to 9 p.m. seven days per week, the Norman Love gelato is offered beginning at 11 a.m. daily until closing while supplies last. A variety of 12 popular and seasonal flavors is offered daily with three sizes available including Love’s popular waffle cone.

Bennett’s also now is offering table service at breakfast as well as lunch and their menu has begun featuring wild Maine blueberry pancakes and strata from 6 to 11 a.m. daily while supplies last. Strata flavors including ham, sausage, and spinach and feta will be rotated during the week. For more info, visit BennettsFreshRoast.com.

Winter Is Best Time to Sell, Study Shows

Understandably, winter is the best time for real estate sales on Sanibel & Captiva Islands. That is when the most prospective buyers are in Florida. It was a surprise, however, to read this article in “Daily Real Estate News” on Monday.

“The housing market doesn’t hibernate in the winter. Sellers who list and buyers who buy often find the winter season the most advantageous time to make a move in real estate, according to a new study by the real estate brokerage Redfin. The winter season officially takes place between Dec. 21 and March 20, and real estate professionals should be ready for a season that often brings in more focused and active sellers and buyers.

“In an update to a two-year analysis it completed last year, Redfin researchers studied nationwide home listings, sales prices, and time-on-market data from 2010 through October 2014. The study found that February is “historically the best month to list, with an average of 66 percent of homes listed then selling within 90 days,” according to Redfin’s research.

“Even in cold weather cities – such as Boston and Chicago – researchers found that home sellers were better off listing their homes in the winter than during other seasons. The winter tends to net sellers’ more than their asking price during the months of December, January, February, and March than listings from June through November. Listing during those four winter months has resulted in higher percentages of above-asking-price sales than listing during any months, other than April and May.

“Redfin researchers found that in 2012 December listings were producing the highest percentage of above-asking sales for the entire year at 17%. Researchers say the winter market is less competitive for sellers since many people tend to wait until the spring to list. The smaller inventory of active listings helps sellers get more attention from buyers on their properties. Also, many large corporations often transfer employees or hire new ones early in the year, creating opportunities for winter sellers from very motivated purchasers.

“Homes that are “priced right and show well can sell any time” of the year, says Nela Richardson, chief economist for Redfin. Winter buyers tend to be “serious buyers… Most people are not window-shopping” in December and January, like they do in the spring months, Richardson adds.

“Sellers shouldn’t worry about the holidays hampering their chances either. A 2011 study conducted by realtor.com® found that 60% of real estate professionals advise their sellers to list a home during the holidays because they believe it’s an opportune time to sell. Nearly 80% of the real estate professionals surveyed said that more serious buyers emerge during the holidays, and 61% say less competition from other properties makes it an ideal time to sell.

“As for buyers, they may find winter a good time to make a move too. Sellers often are more flexible about negotiations over prices and terms than they would in the spring, real estate professionals say.

“People get more realistic at this time of year,” particularly if their homes hadn’t sold during the summer and fall, says Mary Bayat, a broker in Washington, D.C., and chairwoman-elect of the Northern Virginia Association of REALTORS®.”

NAR Testifies on Capitol Hill

Posted Monday, on the “Real Estate Services E-Newsletter Update”:

“On December 9, the U.S. Senate Banking Subcommittee on Housing, Transportation, and Community Development held a hearing entitled, “Inequality, Opportunity, and the Housing Market.” Mabel Guzman, the 2014 National Association of Realtors® (NAR) Conventional Financing and Policy Committee chairwoman and broker for @properties in Chicago, IL, testified on behalf of NAR. In her testimony, Ms. Guzman focused on ongoing challenges and disparities in the housing market and housing finance system. Specifically, Ms. Guzman covered six main issues, which include:

(1) the national economy is impacting the supply of both credit and housing inventory;

(2) high guarantee fees and loan level pricing adjustments charged by the Government Sponsored Enterprises (GSEs) are hurting consumers;

(3) excessive Federal Housing Authority (FHA) premiums are negatively impacting housing;

(4) FHA and GSE condominium restrictions are preventing homeownership opportunities;

(5) housing policies add to lending concerns; and (6) foreclosures and short sales remain problematic for thousands of American families.”

12 Wellness Tips for the Holidays

NAR posted the below calendar from the National Safety Council on their Realtor®Mag Blog this week. Some good reminders here:

Sanibel & Captiva Multiple Listing Service Activity December 12-19

Sanibel

CONDOS

3 new listings: Gulf Beach #102 2/2 $749K, Sundial #R304 2/2 $845K, Sundial #R401 2/2 $849K (our listing – some photos below).

4 price changes: Spanish Cay #F6 1/1 now $275K, Loggerhead Cay #461 2/2 now $499K, Pointe Santo #B4 2/2 now $664K, 2400 Los Colony Rd 3/3 $1.495M.

3 new sales: Loggerhead Cay #453 2/2 listed for $459K, Sundial #Q202 2/2 listed for $694K, Island Beach Club #330E 2/2 listed for $795K.

1 closed sale: 2615 Tamarind Rd 2/2 $347K.

HOMES

2 new listings: 1774 Bunting Ln 3/2 $589K, 741 Nerita St 3/2 $699K.

3 price changes: 1076 Sand Castle Rd 2/2 now $590K, 375 East Gulf Dr 4/3 now $1.489M, 3744 West Gulf Dr 4/4 now $1.595M.

5 new sales: 702 Donax St 2/2 listed for $439K, 3001 Singing Wind Dr 3/2 listed for $449K (short sale), 589 Rabbit Rd 2/2 listed for $499K, 1520 San Carlos Bay Dr 4/3.5 listed for $1.995M. Without contingencies: 1429 Sanderling Cir 3/3.5 listed for $1.575M.

3 closed sales: 4612 Rue Belle Mer 2/2 $615K, 1901 Sanibel Bayou Rd 4/3 $750K, 5427 Osprey Ct 3/3.5 $1/159M.

LOTS

1 new listing: 5121 Sanibel Captiva Rd $227,555.

1 price change: 2263 Starfish Ln now $499K.

No new sales.

2 closed sales: 1182 Sand Castle Rd $199.9K, 1246 Sand Castle Rd $212.5K.

Captiva

CONDOS

1 new listing: Bayside Villas #5318 3/3 $625K.

No price changes.

1 new sale: Marina Villas #603 2/2 listed for $640K.

No closed sales.

HOMES

2 new listings: 1127 Longifolia Ct 4/4 $5.795M, 16697 Captiva Dr 5/4 $10.5M.

No price changes, new or closed sales.

LOTS

Nothing to report.

Until next Friday…Merry Christmas!

Mid-Summer Scoop from Sanibel Island

Posted on July 18, 2014 by SanibelSusan

It has been another quiet, summer shower kind of week on the islands, with no real estate meeting yesterday and very few showings or even phone calls. All-in-all, that is pretty typical for late July. At SanibelSusan Realty we spent much of the week beating the bushes for new listings and working on selling long-distance and sight-unseen. It always pays to have good marketing material when you do that. Here are a few photos taken this week at our new listing at Spanish Cay. It’s great value at $349K and already getting interest. Smart buyers know that summer is a great time to buy – when it is easy to preview property and sellers may be more motivated.

Below are a few news items followed by the action posted this week in the Sanibel and Captiva Islands Multiple Listing Service.

Sea Turtles Nesting in Record Numbers

From the “Island Sun” today: “Local businesses and residents of Sanibel and Captiva universally agree that the 2013-14 “in season” for tourism was the highest in recent memory. However, another group of visitors to the islands this summer has shattered the record books.

“On July 7 when the 70th nest was recorded, it established a new mark for nesting activity on Sanibel’s east end…Last Friday morning, SCCF (Sanibel-Captiva Conservation Foundation) updated its sea turtle nesting statistics. Reported were 73 loggerhead nests and one green sea turtle nest on Sanibel’s east end, 237 nests on Sanibel’s west end, and 101 nests on Captiva. By way of comparison, by the same date last year, SCCF had reported 44 nests on Sanibel’s east end, 208 loggerhead and seven green turtle nests on Sanibel’s west end, and 99 loggerhead and one green turtle nest on Captiva.”

An interesting fact is that once a tiny hatchling reaches the water, “they’ll swim for 48 hours straight to get away from the shoreline and birds and other predators…that’s their instinct.”

“Each day during nesting season, which runs from May to October, more than 100 volunteers, permittees and SCCF employees monitor approximately 18 miles of island beachfront which stretches from the Sanibel Lighthouse to the tip of Captiva….”

BIG ARTS Then/Now & Their Fall Schedule

Known as Sanibel and Captiva’s home for all the arts, BIG ARTS has been providing cultural enrichment and fulfillment to island residents and visitors since 1979. BIG ARTS began when a group of artists dreamed of a cultural center on the island. Today, BIG ARTS members and participants enjoy a wide spectrum of performing and visual arts events, and the community participates in more than 200 educational classes and workshops each year.

The creative spirit, driving force, and hard work of volunteers have shaped BIG ARTS into the vibrant organization it is today. More than 250 talented volunteers assist the staff each season to ensure the professional management of BIG ARTS. Now a prominent cultural institution in Southwest Florida’s region, BIG ARTS has fulfilled its original mission to provide cultural, social, and volunteer opportunities to island residents. As new residents move to the area, they see how BIG ARTS enriches island life, and many are eager to participate and support the arts as they did in their former communities.

BIG ARTS activities were held in private homes around the island until 1987, when a small cottage was donated and moved to its present location on Dunlop Road. Founders Gallery opened in this cottage and concerts were held in the garden under a tent. Due to the popularity of the programs, the organization quickly outgrew these facilities. Through the generosity of BIG ARTS supporters, Phillips Gallery opened in 1990 as an art gallery, concert hall, and classroom.

The West Wing, Schein Performance Hall and sculpture garden were added in 1997. Designed by BIG ARTS member Irwin Stein, Schein Hall is a 400-seat concert hall with surround sound in high definition and a recently added high definition projection system. Classrooms provide space for pottery, clay, metal works, and many other offerings. The beautiful sculpture garden, renamed Boler Garden, was restored in 2006, including an ongoing project with installation of an etched stone walkway.

BIG ARTS Administrative Offices and Classrooms are at 2244 Periwinkle Way, right behind SanibelSusan Realty Associates. Additional classrooms and meeting space there allows BIG ARTS to further its mission to support the arts.

In 2010 the Boards of the Herb Strauss Theater and BIG ARTS joined together to combine the support functions and volunteers of the two organizations, making both stronger and more efficient. The Herb Strauss Theater is now part of the BIG ARTS family of programs and productions. The goal is to further the tradition of quality cultural and educational experiences to the residents and visitors of Sanibel, Captiva, and neighboring communities.

BIG ARTS Herb Strauss Theater presents professional live theater, and offers Broadway-caliber talent in an intimate atmosphere. The 160-seat Theater is at 2200 Periwinkle Way, Sanibel.

Going into the fall 2014, as in past years, as soon as the BIG ARTS Summer Arts Camp ends, the new schedule begins. Workshops will continue classes in painting and drawing; open studio sessions; fine crafts, such as stained glass, glass fusing, and weaving; pottery; dance/fitness; discussion groups; music appreciation and instructional; technology lessons; language and writing classes. Also part of the family of workshops is BIG ARTS Community Chorus and BIG ARTS community Concert band.

As one of the original members of the BIG ARTS Chorus, SanibelSusan was working behind the scenes this week with Director Steve Cramer in organizing the music that chorus will sing for the fall Bailey Fest, Thanksgiving Celebration, and December Holiday Concert. It’s going to be another great season!

Sanibel Rec Center – Brief Closing for Maintenance

The Sanibel Recreation Center will close July 26 through August 3 for maintenance projects. Improvements will include resurfacing of the gym floor and front entrance, deep cleaning and painting of the facility, restriping of the parking lot, and resealing of rest room tile. Day-camp programs will operate as scheduled.

The Sanibel Recreation Center is at 3880 Sanibel-Captiva Rd. Daily, weekly, semi-annual, and annual memberships are available. More info on www.MySanibel.com.

Survey: Buyers, Sellers ‘Not on the Same Page’

This article in “Daily Real Estate News” on July 10, 2014 describes a small survey, but to me the points are “spot on”.

“Home buyers and sellers are “not on the same page” when it comes to the state of the housing market, according to a new Redfin survey of 707 of its agents and partner agents across 35 U.S. markets. Buyers and sellers are taking a more aggressive stance in the market, with some sellers overpricing their homes and more buyers refusing to get in bidding wars, the survey found.

““In May, 40% of sellers surveyed by Redfin said that they planned to list their homes above market value, even though home sales had dropped by 9% since the year before,” says Nela Richardson, Redfin’s chief economist. “Typically, it takes sellers six to nine months to adjust to a price change, but this latest shift is longer. Prices have moved down and then up so much over the past five years that it’s even more difficult for sellers to have a realistic baseline for what their homes are worth in the current market.”

“Fifty-eight percent of Redfin agents say that sellers are holding unrealistic expectations about the value of their homes, up from 49% in the previous quarter. Meanwhile, buyers are showing less willingness to chase after a home, as they face affordability and financing hurdles, the survey found.

““Buyers who have been searching for a long time may still try to win deals with aggressive offers,” Richardson says. “However, new buyers in the market are much less willing to chase an escalating sale price to compete with multiple bids. The demand side of real estate is moving from ‘please take my offer’ to ‘take it or leave it as you please.’ Home buyers’ willingness to walk away from a deal that’s a bad fit is good for them and is ultimately healthier for the housing market.”

“So is it a seller’s market or a buyer’s market? It depends on who you ask. Twenty-four percent of Redfin agents surveyed say that “sellers have all the power,” a drop from 35% three months ago.

“Rising inventories have been beneficial for buyers who are less willing to participate in a bidding war, but they are facing other challenges, such as access to credit and affordability, the survey finds. The top challenges Redfin agents identified as growing problems for buyers are: lack of affordability; qualifying for a mortgage; saving enough for a down payment; and worries about the economy.”

Despite Predictions, Baby Boomers Aren’t Downsizing Yet

Below is another “spot on” report from “Daily Real Estate News”, July 15. Some points here can be further illustrated by the “housing” market on Sanibel and Captiva where today there are not enough homes for sale to meet the demand of the baby boomers, particularly those wanting enough space for entertaining, home offices, and visiting family members.

“Baby boomers aren’t showing any signs of leaving the single-family home market that has defined their generation’s real estate habits, despite many predictions that they would by now. As boomers hit age 65 and become empty nesters, many housing analysts forecasted that a huge wave of them would downsize and move into an apartment, condo, or townhouse.

But Fannie Mae researcher Patrick Simmons says that isn’t happening yet. “There’s a perception, particularly in many media reports, that this massive generation born between 1946 and 1964 is altering its housing consumption,” Simmons, the director of strategic planning for Fannie Mae’s economic group, told the Chicago Tribune. “It’s true that they’re becoming empty nesters in droves. But by one measure, the proportion of boomers who live in single-family homes actually increased between 2006 and 2012.”

“Baby boomers’ mobility has gone down. Nine out of 10 boomers surveyed by AARP reported that they wanted to stay in their current home as long as possible. Some may be motivated to stay put because of the housing crisis. For boomers, the value of single-family homes they owned fell by an average of 13%. Some boomers could still be underwater and are waiting to recoup more on their house before they sell. Others may be holding on to their home because they snagged a record low mortgage rate in recent years, and they know borrowing won’t be any cheaper if they do decide to sell.

“Some baby boomers are downsizing but choosing to stay in smaller single-family homes rather than move to a condo or townhome. But “eventually, boomers will slow down with age and have the same physical frailties that their predecessors had,” Simmons told the Tribune. “My sense is that it’s not going to be a major shift — something we see in the numbers in a year. It will likely unfold over a decade or more.””

More Chinese Buyers Coming to America

Here’s another interesting article from “Daily Real Estate News”, July 11. We keep hearing that the islands will soon have more Asian buyers, but it hasn’t happen yet.

“The number of Chinese home buyers and investors flocking to the U.S. is on the rise, driven by China’s currency appreciation, rising affluence, and concerns over its own economic slowdown, according to the 2014 Profile of International Home Buying Activity, released this week by the National Association of REALTORS®.

““It’s just the beginning of a tidal wave,” says Lawrence Yun, NAR’s chief economist. Chinese investors accounted for 16% of the $92.2 billion worth of international U.S. homes purchases in the year through March, up from 12% a year earlier, according to NAR.

“China was the leader in dollar volume of international purchases, purchasing an estimated $22 billion with an average sales cost of $590,826, according to the NAR report. China also was the fastest-growing source of U.S. foreign transactions, now accounting for 16% of all purchases, up 4% from last year.

“Canada maintained the largest share of purchases, but its share is falling – 23% in 2013 to 19% in 2014.

“The share of Chinese buyers in the U.S. market will likely only get bigger, says Paul Diggle, Property economist at Capital Economics. “This bigger picture hides a rapid rise in purchases by Chinese investors, who may overtake Canadians as the largest group of foreign buyers of U.S. housing within the next five years,” Diggle told HousingWire. “The strength of Chinese demand is another reason to watch closely developments in the Californian housing market, where housing is now no better than fairly valued at the statewide level and starting to look frothy in a number of metros.””

Source: “China Set to Dominate Foreign Homebuyers Market,” HousingWire (July 10, 2014) and “Bloomberg Briefings,” San Francisco Chronicle (July 9, 2014)

Energy-Saving Tips from LCEC

Some timely concise suggestions were included in our recent electric bill from Lee County Electric Co-op (LCEC):

“Warmer weather has arrived and you may be looking for ways to save energy and lower your bill. Our energy experts are here to help you save energy by following these simple tips:

When cooling your home, set the thermostat at 78 degrees F. Each degree below adds 8 to 12% to cooling costs.

Do not close A/C vents or interior doors when A/C is running.

While away from home for more than two hours, set the thermostat at 83 degrees F.

Install a programmable thermostat that will automatically raise and lower the temperature at certain times of the day.

Turn fans off when the room is not occupied. Each continuously running fan costs approximately $7 per month on your electric bill.

For more green energy tips visit www.lcec.net.”

Prescribed Burns are Done

If you are concerned about the large burned areas noticeable on Tarpon Bay and San-Cap Roads, know that they are for the good.

Last Sunday morning, fire officials and J.N. “Ding” Darling National Wildlife Refuge staff conducted a prescribed burn at the Bailey Tract and surrounding SCCF property. Planned burns scheduled for the following days along San-Cap Road and Legion Curve were delayed due to heavy wind and rain, but the fire team completed their planned burn along Legion Curve on Wednesday. (photo here by SCCF)

Summer is not only rainy season in Florida, but also peak lightening season, which can cause fires with devastating impacts. Managed burns can prevent the likelihood and severity of wildfires and help preserve the natural ecology of the area.

Sanibel & Captiva Multiple Listing Service Activity July 11-18

Sanibel
CONDOS

3 new listings: Tennisplace #C35 2/1.5 $310K, Ibis at The Sanctuary #A301 3/2 $449K, Sealoft Village #105 2/2 $529K.

No price changes.

1 new sale: Breakers West #B1 2/2 listed for $449K.

1 closed sale: Sundial #O307 2/2 $920K.

HOMES

2 new listings: 868 Rabbit Rd 3/2 $395K, 1901 Sanibel Bayou Rd 4/3 $829K.

2 price changes: 3001 Singing Wind Dr 3/2 now $495K, 580 Birdsong Pl 3/2.5 now $574.9K.

1 new sale: 1434 Sandcastle Rd 3/2 listed for $575K.
2 closed sales: 1744 Bunting Ln 4/2 $580K, 1529 Sand Castle Rd 3/2 $787.5K.

LOTS

No new listings.

2 price changes: 6519 Pine Ave now $1.095M, 6505 Pine Ave now $1.095M.

No new sales.

2 closed sales: 659 Anchor Dr $520K, 4308 West Gulf Dr $600K.

Captiva
CONDOS

Nothing to report

HOMES

1 new listing: 11529 Laika Ln 3/2 $1.65M.

1 price change: 16785 Captiva Dr 4/3.5 now $1.645M.

No new or closed sales.

LOTS

Nothing to report.

It’s a great time to enjoy the beach, the shelling, & fabulous sunsets on Sanibel & Captiva Islands. Best wishes to all…SanibelSusan

Sanibel Scoop & Captiva Chatter

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

Tag Archives: SanibelSusan Realty

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