Another Bright Sunny Friday on Sanibel & Captiva

Posted on April 9, 2021 by SanibelSusan

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

Beach in front of our listing at White Sands

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

Weather Changing

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

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

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

SanibelSusan Realty

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

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

Sanibel & Captiva Islands Association of Realtors®

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

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

CONDOS:

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

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

HOMES:

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

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

What about sales, year-to-date?

CONDOS:

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

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

HOMES:

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

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

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

Update on COVID-19

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

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

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

Posted on-line Wednesday at FloridaRealtors®:

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

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

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

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

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

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

Island Spring Things

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

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

Lake Okeechobee Releases Reduced

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

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

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

Sanibel

CONDOS

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

No price changes.

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

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

Dockage at Mariner Pointe

HOMES

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

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

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

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

LOTS

No new listings.

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

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

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

Captiva

CONDOS

No new listings or price changes.

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

No closed sales.

HOMES

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

No price changes, new sales, or closed sales.

LOTS

Nothing to report.

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

Until next Friday, Susan Andrews, aka SanibelSusan

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

Easter Weekend 2021 on Sunny Sanibel

Posted on April 2, 2021 by SanibelSusan

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

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

At SanibelSusan Realty

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

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

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

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

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

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

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

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

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

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

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

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

Pandemic Update

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

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

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

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

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

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

Membership Offerings at The Sanctuary

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

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

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

Happy Easter

Best spring wishes from The SanibelSusan Team!

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

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

Sanibel

CONDOS

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

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

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

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

Kings Crown beach path

HOMES

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

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

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

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

LOTS

No new listings or price changes.

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

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

Captiva

CONDOS

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

No price changes.

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

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

HOMES

No new listings or price changes.

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

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

LOTS

Nothing to report.

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

Until next Friday, Susan Andrews, aka SanibelSusan

Spring 2021 Has Sprung! Island Real Estate Is Hot!

Posted on March 26, 2021 by SanibelSusan

It’s another sunny Sanibel Friday afternoon. Record high temperatures were expected today, with it already creeping into the 90’s yesterday in some of SW FL. Forecasters say that similar beach-like weather is expected for at least another seven days, with no chance of rain (though it’s needed).

Local waterways, beaches, and shared-use paths continue to be busy, while road traffic seemed a tad lighter this week, likely because local schools are back in session. Just two more weeks of “high season” remain, with some snowbirds already planning their annual trek north.

As inventory continues to dwindle, The SanibelSusan Team and I continue to beat the bushes looking for new listings. Teammate Dave and I previewed a terrific near-beach home yesterday that may be on the market soon. A complete interior remodel by one of our recommended contractors is just finishing up. (Here’s a hint, it’s near the body of water shown below and where there is some of the best shelling in the world.)

Our condo listings had showings last Saturday during guest turn-over and I was out showing on Captiva yesterday, while in the office, we continue to prepare for several upcoming closings.

The action posted since last Friday in the Sanibel & Captiva Islands Multiple Listing Service is after a few news items below.

Sanibel Real Estate Inventory

Sometimes it is revealing to look at inventory with a price comparison. Below, by dollar increment, are the number of Sanibel properties available for sale (condos, homes, and lots), compared to the number under contract, and the number closed/sold year-to-date, as of today, March 26.

In snapshot terms, there currently are just 124 residential properties for sale on Sanibel (53 condos, 38 homes, 33 lots), while 167 are under contract, and 172 have already sold/closed this year – and that does not include the many closing occurring next week. The last day of the month is always the busiest day for closings, with March 31st often the busiest of the year!

SANIBEL	CONDOS			HOMES			LOTS
SANIBEL	For Sale	Under Contract	Sold 2021	For Sale	Under Contract	Sold 2021	For Sale	Under Contract	Sold 2021
$100-200K	0	0	0	0	0	0	0	2	4
$200K-300K	0	0	1	0	0	0	5	2	8
$300K-400K	2	3	4	0	0	0	10	6	5
$400K-500K	4	6	12	0	1	5	2	4	2
$500K-600K	9	11	12	1	7	9	2	1	1
$600K-700K	4	10	4	2	7	9	1	0	1
$700K-800K	5	4	7	0	15	7	3	0	0
$800K-900K	8	6	7	5	5	14	3	1	0
$900K-1M	9	8	6	3	5	5	2	0	0
$1M-1.5M	11	4	10	3	25	10	2	1	1
$1.5M-2M	1	4	3	11	16	9	0	0	1
$2M-3M	0	3	1	4	3	7	1	0	2
$3M-4M	0	0	0	2	3	2	2	2	0
$4M-5M	0	0	0	2	0	1	0	0	0
$5M-6M	0	0	0	1	1	1	0	0	0
$6M-7M	0	0	0	1	0	0	0	0	0
$7M-8M	0	0	0	2	1	0	0	0	0
$8M+	0	0	0	1	0	1	0	0	0
TOTAL	53	59	67	38	89	80	33	19	25

Prospective sellers who may be wondering if they need a Realtor® in a market like this, the answer is “yes”. Most of Realtors® have buyers looking for a particular property in a certain location or with special requirements. Now that “season” is almost over, it becomes even more important to have the broadest exposure to the most prospective purchasers.

That means with the property offered in the islands Multiple Listing Service so that it is exposed to Realtors® everywhere, syndicated through worldwide real estate databases, and with local boots on the ground (in our case flip flops) to ensure that every step of the transaction is accomplished successfully so that owners get top dollar.

Pandemic Update

“Pop-Up Site” – Congratulations to FISH of Sanibel-Captiva (Friends in Service Here) for their action. They sent a letter to Governor Ron DeSantis and elected officials addressing the need for COVID-19 vaccines on Sanibel. It stressed the complications that island seniors face, particularly those with technological challenges in vaccination scheduling and logistical hurdles of vaccination sites often long distances away. Many seniors FISH identified as high priority due to age, medical conditions, or transportation limitations. FISH initiatives resulted in the Department of Health providing 250 doses which we used Tuesday during a “pop up” vaccination site at the Sanibel Community House. That day, islander seniors, scheduled by FISH, went by appointment to receive their one-dose Johnson & Johnson vaccinations. As FISH says, “it takes a village”. They were assisted by island partners from the Community House, Rotary Club of Sanibel-Captiva, City of Sanibel Police Department, Sanibel Fire Department, parish nurses, medical offices, pharmacies, City officials, and FISH volunteers.

Those 50 & Over Now Eligible – This week with the state announcing that the vaccine now is available to anyone over 50, two SanibelSusan teammates now have received their first vaccines. In addition to the various pharmacies, big box stores, and medical facilities offering appointments, the vaccination site near the old SW FL regional airport continues to take appointments when doses are available. Contact them on-line at http://www.MyVaccine.FL.gov or by phone at 239-356-2006.

Those 18 & Over Soon Eligible – Florida Gov. Ron DeSantis is lowering the COVID-19 vaccination age to 40 starting Monday and to EVERYONE 18 AND UP starting April 5.

Sanibel’s State of Emergency – My apologies for not including an update on Sanibel’s state of emergency last week. Below is the Tuesday update from http://www.MySanibel.com:

The City declared State of Emergency, issued in response to COVID-19, has been extended by Mayor Holly D. Smith until March 30, 2021, unless further extended. Per State Statute, the maximum duration for a Mayoral Declaration of Emergency is seven (7) days and thus must be updated weekly as long as the emergency conditions are present.

“To avoid the spread of COVID-19, social distancing is encouraged, and group gatherings should be avoided.”

Florida’s Housing Market: More Sales, Higher Median Prices

In an article posted on-line this week, Florida Realtors®, Marla Martin said:

“Florida Realtors’ data: Single-family home sales rose 15.7% year-over-year, median sales price up 16.6%; condo sales up 28.7%, median price up 16.6%. Chief Economist O’Connor: Fewer new listings and a tight inventory means a strong seller’s market.

“FEBRUARY HOME PRICES SOAR AS INVENTORY SHRINKS – The statewide inventory of active single-family home listings, which Florida Realtors has been tracking since January 2008, is currently at an all-time low. And the scarcity of inventory and high demand for existing homes continues to drive home prices higher.

“ORLANDO, Fla. – Amid increased COVID-19 vaccinations and hopeful signs for the future, Florida’s housing market in February reported more closed sales, higher median prices, more new pending sales and increased pending inventory in February 2021 compared to a year ago, according to Florida Realtors® latest housing data. Single-family existing home sales rose 15.7 % compared to February 2020.

““Florida’s housing market continued its momentum in February, but higher interest rates could be a factor going forward,” says 2021 Florida Realtors President Cheryl Lambert, broker-owner with Only Way Realty Citrus in Inverness. “While rising rates could potentially slow the pace of home sales, rates remain relatively low by historical standards. Record-low inventory is continuing to put pressure on home prices to rise and creates challenges for buyers. However, new pending sales rose 10.9% for single-family existing homes last month compared to February 2020, while new pending sales for condo-townhouse units increased 35.4% year-over-year.”

“Closed sales of single-family homes statewide in February totaled 23,947, up 15.7% year-over-year, while existing condo-townhouse sales totaled 11,379, up 28.7% over February 2020. Closed sales may occur from 30- to 90-plus days after sales contracts are written.

“The statewide median sales price for single-family existing homes was $314,900, up 16.6% from the previous year, according to data from Florida Realtors Research Department in partnership with local Realtor boards/associations. Last month’s statewide median price for condo-townhouse units was $233,240, up 16.6% over the year-ago figure. The median is the midpoint; half the homes sold for more, half for less.

“Florida Realtors Chief Economist Dr. Brad O’Connor notes that Florida’s current housing market is a strong seller’s market, with fewer new listings and a very tight inventory (active listings), particularly for single-family existing homes. He says, “The statewide inventory of active single-family home listings, which Florida Realtors has been tracking since January 2008, is currently at an all-time low. At the end of February, single-family inventory was down 56.3% compared to a year ago. Most of this decline has been a result of our ultra-high rate of sales.

““However, so far in 2021, new listings of single-family homes have not kept up with their pace of 12 months ago. In February, they were down 4.9% year-over-year, which is an improvement over January, but still represents a move in the wrong direction. There’s a likelihood that much of this decline has been due to some sellers, who in normal times might have listed in January or February, instead listing ahead of 2021 in response to the unusually strong market in the second half of 2020. But there’s also the possibility that a small but increasing number of homeowners, who have been thinking of selling their current home and buying another one, are starting to get turned off by the lack of available inventory and the rising prices that have resulted from it.”

The condo-townhouse category shows a slightly different picture, O’Connor says.

““In February, closed sales in this category rose 28.7% year-over-year, which is consistent with the growth rates we’ve been seeing each month going back to September,” he says. “Some of this growth is likely being fueled by frustrated buyers who had their hearts set on a single-family home finally giving up and settling for an attached unit instead, but we’re also seeing high demand from folks with the typical condo- and townhouse-buyer profile, as well. And while inventory in this category is still high relative to what we’re seeing in the single-family home category, it was down 34.4% compared to a year ago.”

“On the supply side of the market, inventory (active listings) remained constrained in February. Single-family existing homes were at a very restricted 1.3-months’ supply while condo-townhouse inventory was at a 3.4-months’ supply.

“According to Freddie Mac, the interest rate for a 30-year fixed-rate mortgage averaged 2.81% in February 2021, significantly lower than the 3.47% averaged during the same month a year earlier….”

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

Sanibel

CONDOS

5 new listings: Spanish Cay #F8 2/2 $449K, Sundial #C303 2/2 $739K, Heron at The Sanctuary #3A 2/2.5 $839K, Sanddollar #B101 2/2 $1.125M, Cyprina Beach #2 3/3 $1.6M.

1 price change: Sundial #D408 1/1 now $509.9K.

7 new sales: Sundial #F206 1/1 listed at $479K, Blind Pass #E101 2/2 listed at $485K, Sanibel Arms West #B5 2/2 listed at $550K, Sanibel Arms West #H4 2/2 listed at $559K, Kimball Lodge #302 1/1 listed at $574K, Blind Pass #G104 3/2 listed at $699K, Sanddollar #C201 2/2 listed at $1.199M.

7 closed sales: Captains Walk #B3 1/1 $286.5K, Sundial #F108 1/1 $425K, Mariner Pointe #732 2/2 $545K, Surfside 12 #B1 3/2 $950K, Beachcomber #D101 2/2 $985K, Pointe Santo #C25 3/2 $1M, Sundial #T405 2/2 $1.193M.

HOMES

3 new listings: 1644 Bunting Ln 3/3 $643K, 3010 West Gulf Dr 3/2 $1.445M, 2857 Wulfert Rd 4/5 $1.895M.

2 price changes: 848 Birdie View Pt 4/3.5 now $2.049M, 1306 Seaspray Ln 4/4 now $4.295M.

12 new sales: 1942 Roseate Ln 2/2 listed at $524.5K, 3009 Singing Wind Dr 2/1.5 listed at $657K, 9446 Yucca Ct 3/2 listed at $739K, 613 Lake Murex Cir 3/3 listed at $978K, 1983 My Tern Ct 3/2.5 listed at $1.098M, 557 N. Yachtsman Dr 4/3 listed at $1.124M, 446 Surf Sound Ct 3/2 listed at $1.178M, 249 Violet Dr 4/2 listed at $1.2M, 6412 Pine Ave 3/2.5 listed at $1.589M, 837 Sand Dollar Dr 3/3.5 listed at $1.895M, 3744 West Gulf Dr 4/4 listed at $1.939M, 5633 Baltusrol Ct 4/4.5 listed at $1.949M.

5 closed sales: 9254 Kincaid Ct 2/2 $486K, 799 Casa Ybel Rd 5/3 duplex $550K, 757 Windlass Way 3/2.5 $1.2M, 1355 Eagle Run Dr 4/4.5 $1.84M, 3009 Turtle Gait Ln 4/4.5 $2.595M.

LOTS

2 new listings: 2133 Starfish Ln $529K, 1084 S. Yachtsman Dr $699K.

No price changes.

2 new sales: 9042 Mockingbird Ln listed at $395K, 000 West Gulf Dr listed at $3.795M.

3 closed sales: 247/255 Robinwood Cir $265K, 717 Birdie View Pt $370K, 5749 Sanibel-Captiva Rd $607K.

Captiva

CONDOS

No new listings or price changes.

3 new sales: Marina Villas #708 2/2 listed at $765K, Gulf Beach Villas #2024 3/3 listed at $1.075M, Beach Homes #17 4/3 listed at $3.45M.

2 closed sales: Tennis Villas #3118 1/1 $341.5K, Lands End Village #1651 2/2 $1.245M.

HOMES

No new listings.

2 price changes: 11530 Paige Ct 4/4/2 now $4.6M, 11559 Laika Ln 3/3 now $7.8M.

1 new sale: 11514 Andy Rosse Ln 5/5 listed at $2.349M

1 closed sale: 16813 Captiva Dr 3/3 $2.25M.

LOTS

No new listings or price changes.

1 new sale:: 16685 Captiva Dr listed at $2.45M.

No closed sales.

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

Until next Friday, enjoy spring! Susan Andrews, aka SanibelSusan

Just Another Gorgeous Friday on Sunny Sanibel

Posted on March 19, 2021 by SanibelSusan

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

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

Best Beach Town is “Sanibel Island”

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

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

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

Sanibel & Captiva Real Estate Scoop

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

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

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

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

The Brighter Path Ahead

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

“Some potential tax reforms include:

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

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

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

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

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

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

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

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

Sanibel

CONDOS

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

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

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

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

HOMES

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

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

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

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

610 Hideaway Ct

LOTS

No new listings or price changes.

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

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

Captiva

CONDOS

No new listings.

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

No new or closed sales.

HOMES

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

No price changes.

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

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

LOTS

Nothing to report.

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

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

Posted on March 12, 2021 by SanibelSusan

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

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

At SanibelSusan Realty

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

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

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

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

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

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

SANIBEL

CAPTIVA

Condos

Homes

Lots

Avg Price

For sale

826,294

1,841,750

2,474,021

4,008,374

914,546

5,131,666

Under contract

886,578

1,177,285

1,392,648

2,898,933

588,931

N/A

Closed year-to-date

773,643

875,538

1,337,138

3,434,263

647,473

N/A

Sold in 2020

192

733,876

821,713

288

951,487

2,923,148

606,233

2,537,500

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

Sanibel – COVID-19

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

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

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

Fannie, Freddie Tighten Rules for Condos in Vacation Locales

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

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

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

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

units are rented out on short-term basis.

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

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

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

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

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

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

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

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

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

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

Sanibel

CONDOS

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

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

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

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

HOMES

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

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

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

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

LOTS

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

No price changes.

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

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

Captiva

CONDOS

No new listings or price changes.

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

No closed sales.

HOMES

No new listings or price changes.

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

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

LOTS

Nothing to report.

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

Until next Friday, Susan Andrews, aka SanibelSusan

Perfect Weather, While Island Real Estate is Hot

Posted on February 26, 2021 by SanibelSusan

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

The Island Real Estate World

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

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

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

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

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

Captiva also is hot:

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

Sanibel – COVID-19

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

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

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

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

Sanibel

CONDOS

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

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

View from Sandalfoot #3B3

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

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

HOMES

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

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

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

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

LOTS

No new listings.

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

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

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

Captiva

CONDOS

No new listings.

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

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

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

HOMES

No new listings.

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

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

No closed sales.

LOTS

Nothing to report.

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

Replenishing Our Acorns at SanibelSusan Realty

Posted on January 29, 2021 by SanibelSusan

As we wrap up another week of nice winter island weather, I must mention the unusual fog seen here midday Wednesday. Coming onto the island late morning, the fog was so thick that one could barely see the water beyond the causeway island bridge railings, much less the shores of Sanibel. Calls from those beachside in the afternoon reported lingering fog just off the shoreline east end. Rarely do we see fog here.

The SanibelSusan Team had a couple of nice closings this week plus a super sale. Also had other listings shown and worked with buyers too. Tomorrow, after tenant checkout and unit cleaning, I will be at our new listing at Kings Crown where seven showings are scheduled during a short window. Hopefully, my nearby presence will make it easier for agents to get in and out quickly – while still adhering to COVID protocols.

Kings Crown

Yes, the real estate market here is nuts! Good nuts! Now providing an opportunity for us to replenish the acorns that were depleted during the pandemic shut-down when business was off.

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

Sanibel & Captiva Islands Association of Realtors®

Again, there was no weekly Zoom Caravan meeting this week, but the Sanibel & Captiva Islands Association of Realtors® did win four state awards at the Florida Realtors® RPAC (Realtors® Political Action Committee) Awards Zoom event Tuesday Night.

Thank you to our RPAC Committee, its Chairman Dave Arter, and our members, both REALTORS® and Affiliate Business Partners for helping the Association meet and exceed its 2020 RPAC goals. The Association earned four State RPAC Awards in the Small Board Category:

Highest Total Cash
Highest Participation Rate
Highest Percentage of Goal
Highest Number of Major Investors

Since 1969, RPAC has promoted the election of pro-REALTOR® candidates across the U.S. The purpose of RPAC is clear: voluntary contributions made by REALTORS® are used to help elect candidates who understand and support their interests. These are not members’ dues; this is money given freely by REALTORS® in recognition of the importance of the political process. The REALTORS® Political Action Committee and other political fundraising are the keys to protecting and promoting the real estate industry.

Florida Realtors®

This week, I also attended more of Florida Realtors® Mid-Winter Business Meetings and events via Zoom.

Tuesday, the 3-hour Realtor®-Attorney Joint Committee covered upcoming revisions proposed to the Florida Realtors®/Florida BAR contract, and the “As Is” version of the contract and its associated comprehensive riders.

In the 29 years that I have been using this contract in Florida, it has evolved may times, with the times. The “As Is” version is the most widely used. Many of the proposed changes are technology related, some regarding personal property that conveys with the real estate. Others tighten up timeframes and requirements in mortgage contingencies. Another good change clears confusion related to properties being sold that are short-term rentals. All are good improvements. Though not yet official, these committee recommendations will be submitted to the Florida BAR for their June meeting and if approved will move on to Florida Realtors® for consideration at their annual meeting in August. All indications are that these revised contracts will be released late summer.

Thursday night was the Florida Realtors® 2021 Inaugural with after party. Pretty hard to party via Zoom, but the entire event was a lot of fun and it was so great to see colleagues from around the state, even though it was through a computer screen.

This year, Florida surpassed other states in their total Realtor® membership. It is now the largest in the U.S., 204,000 members. It is amazing but not surprising to hear that membership increased during the pandemic. The word is out that the sunshine state offers more than just nice weather! (I remember when there were just 100,00 members and that was a staggering number.) Congratulations to our new President Cheryl Lambert and her terrific team.

Condo Question & Answer: What Happens If Reserve Funds Aren’t Enough?

Posted Wednesday on FloridaRealtors® on-line. This article covers an often-asked question about condo reserve monies. Author is “Steven J. Adamczyk Esq., a shareholder of the law firm Goede, Adamczyk, DeBoest & Cross, PLLC. The information provided herein is for informational purposes only and should not be construed as legal advice. The publication of this article does not create an attorney-client relationship between the reader and Goede, Adamczyk, DeBoest & Cross, or any of our attorneys. Readers should not act or refrain from acting based upon the information contained in this article without first contacting an attorney, if you have questions about any of the issues raised herein. The hiring of an attorney is a decision that should not be based solely on advertisements or this column. © 2021 Journal Media Group

“A condo complex reserves funds every year to repaint buildings every seven – but it’s time to paint and the money falls short. Can they use other money for painting?

“STUART – Question: Our condominium has been reserving every year to repaint the buildings every seven years. We are now approaching seven years, and it turns out the paint reserve fund was never on track to be fully funded, and we are going to be short. Can we use money set aside for other projects or do we have other options? – W.C.S., Port St. Lucie

“Answer: This is a common situation. In Florida, the general rule applicable to condominiums is that reserves must be fully funded unless the membership votes to underfund or waive reserve funding altogether. This means that your board should have received a quote or reserve opinion seven years ago to repaint the buildings, subtract any leftover balance in the paint fund, and then divide the difference by seven so that you are equally putting money away each year. The board can also take interest, inflation and annual changes in materials and labor into consideration when setting reserve amounts.

“In Florida, the default rule is also that you have straight line reserves, meaning you separately account for each reserve component, and you can only use money in the paint fund, for example, on painting, and the membership must approve any other use.

“One option available to you is to review your corporate history to see whether the association ever voted to approve a switch to pooled reserve funding. A pooled reserve is funded differently because it is based on cash flow, but the benefit in your situation is that you can use any dollar in the reserve account for any component in the pooled reserve. For example, a pooled reserve could have repainting, resurfacing, roof replacement, pool equipment, pool furniture, clubhouse windows and pool deck paver components. With a pooled reserve system, you could use any balance set aside for the pool equipment to fund the paint shortfall.

“You obviously need to make up the difference over time so that you can replace the pool equipment when necessary, but there is a lot of flexibility. If you have not done this in the past, the threshold to switch to pooled reserve requires only a majority of the votes cast in person or by proxy at a meeting of the members, and thus, you could also schedule a meeting to approve this switch and this could provide the flexibility you are seeking.

“If you have straight line reserves and you want to keep straight line reserves, another option is to seek the membership’s approval to use reserve dollars currently allocated to another component. The threshold is the same as the switch to pooled reserves, meaning you could, for example, schedule a special members’ meeting to seek approval to use dollars currently in the roof reserve account for the current paint shortfall.

“Another option would be to fund the shortfall through your annual operating budget. If you know the shortfall is $250,000, for example, then you could add a line item to your annual budget for this year only for the $250,000 and fund the shortfall through normal assessment obligations. To accomplish this, I would first seek an opinion from your legal counsel to determine whether your specific condominium documents place any restrictions on whether your operating budget can accommodate this expense. Obviously, this may increase your assessments, but at least owners would be able to pay the shortfall quarterly or monthly depending on your assessment schedule.

“The board could also levy a special assessment. This is the typical response to a shortfall in reserves because the reserve expenditure is typically a one-time expenditure and special assessments typically provide a lump sum influx of capital to meet the needs. Again, you would want to consult your legal counsel to determine whether your specific condominium documents have any self-imposed restrictions or procedural requirements that would impact the board’s ability or timing to levy a special assessment for this purpose.

“Finally, the board could borrow. Credit is generally available for condominium associations, and your board could consider drawing on a line of credit or obtain a term loan for this purpose. One of the benefits of borrowing is that it provides the association with instant liquidity to meet contractor payment schedules while allowing owners to repay over a longer period and possibly for the duration of the loan repayment.

“Once again, you would want to consult your legal counsel to determine whether your specific condominium documents have any self-imposed restrictions on borrowing or voting requirements to open a line of credit or draw on a line of credit. Depending on the amount of the loan and the lenders’ underwriting requirements, you may also need to levy a special assessment dedicated to repay the loan, so you also need to consider whether you have any special requirements to levy a special assessment as described above.”

Sanibel – COVID-19

From Florida Department of Health, Sanibel’s total accumulative number of COVID-19 cases since March 26 through January 27 is 201 cases. This is 13 cases in the last seven days. This is the number of cases for zip code residents. It does not include Captiva and the many workers and visitors that come and go. PLEASE stay vigilant, continue social distancing, hand washing, mask wearing, and avoid group gatherings.

With the process of getting vaccine appointments by phone often unsuccessful and frustrating, this week Florida’s site to preregister on line was announced. If you are a health care worker or Florida resident over the age of 65, go to www.MyVaccine.FL.gov to sign up. It takes just seconds and says you will be contacted (either by phone, text, or email) when your appointment is scheduled. All 67 Florida counties will have the system available to them soon. Luckily, Lee County was one of the first in the roll-out.

Sanibel & Captiva Islands Multiple Listing Service Activity Jan 22-29, 2021

Sanibel

CONDOS

6 new listings: Sanctuary Golf Villages I #5-2 3/3 $899K; Sanibel Arms West #C4 2/2 $920K; Sundial #Q401 2/2 $978,808; White Sands #13 2/2 $979K; Loggerhead Cay #101 2/2 $998,899; Tarpon Beach #206 2/2 $998,899.

2 price changes: Sanibel Arms #C5 2/2 now $465K, Mariner Pointe #732 2/2 now $559K.

6 new sales: Sanibel Arms #2E 1/1 listed at $385.4K, Sanibel Arms #C7 1/1 listed at $349K, Sanibel Arms West #A3 2/2 listed at $529K, Loggerhead Cay #192 2/2 listed at $719K, Pointe Santo #E22 2/2 listed at $899K, Sundial #A301 2/2 listed at $1,099,999.

6 closed sales: Spanish Cay #A4 2/2 $430K, Sundial #I102 1/1 $442.5K, Sundial #D305 1/1 $495K, Lighthouse Point #117 3/2 $540K (our listing), Mariner Pointe #421 2/2.5 $550K, Junonia #103 3/2 $1.265M.

HOMES

8 new listings: 888 Rabbit Rd 3/2 $749.9K, 1052 Fish Crow Rd 3/2 $799K, 709 Pyrula Ave 3/3 $1.125M, 757 Windlass Way 3/2.5 $1.249M, 994 Whelk Dr 3/2 $1.395M, 742 Sand Dollar Dr 3/3 $1.675M, 2479 Harbour Ln 4/3 $1.795M, 4323 West Gulf Dr 6/6 $7.995M.

No price changes.

11 new sales: 4115 Sanibel-Captiva Rd 3/1 listed at $585K, 1985 Sanibel Bayou Rd 3/2 listed at $780K, 2620 West Gulf Dr 3/2 listed at $789K, 640 Periwinkle Way 3/2 listed at $825K, 1155 Sand Castle Rd 3/2 listed at $919K, 567 N. Yachtsman Dr 3/3 listed at $979K, 1391 Jamaica Dr 4/3 listed at $1.299M, 1366 Tahiti Dr 3/2.5 listed at $1.4M, 418 Bella Vista Way 4/4 listed at $1.75M, 784 Birdie View Pt 4/4 listed at $1.795M, 1238 Isabel Dr 4/4.5 listed at $3.495M (our listing).

5 closed sales: 721 Durion Ct 3/3 $620K, 1015 Fish Crow Rd 3/2 $640K (our listing), 3251 Twin Lakes Ln 3/2 $815K, 3020 Turtle Gait Ln 3/2 $839K, 4381 West Gulf Dr 5/5.5 $11M.

LOTS

1 new listing: 1313 Par View Dr $324.9K.

3 price changes: 575 Sea Oats Dr now $385K, 6505 Pine Ave now $759K, 6519 Pine Ave now $799K.

1 new sale: 3941 West Gulf Dr listed at $3.695M.

1 closed sale: 3945 West Gulf Dr $2.85M.

Captiva

CONDOS

2 new listings: Captiva Cove #2A 3/2 $1.295M, Beach Homes #25 3/2 $1.995M.

No price changes.

3 new sales: Gulf Beach Villas #2112 1/1 listed at $492.5K, Lands End Village #1651 2/2 listed at $1.265M, Lands End Village #1615 2/2 listed at $1.45M.

1 closed sale: Beach Villas #2028 3/3 $1.04M.

HOMES

No new listings or price changes.

3 new sales: 16500 Captiva Dr 6/6/2 listed at $6.289M, 15361 Captiva Dr 5/4.5 listed at $2.795M, 16394 Captiva Dr 5/4 listed at $6.599M.

No closed sales.

LOTS

Nothing to report.

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

Enjoy your weekend! Susan Andrews aka SanibelSusan

Spectacular Sanibel Sunsets This Week

Posted on January 22, 2021 by SanibelSusan

This week has been a tad chilly, though mostly sunny, on Sanibel & Captiva. Great “open the sunroof” weather. There have been some terrific sunsets this week too, sunset last night was especially spectacular.

A weather warm-up is expected by Sunday with daytime temperatures forecast to be back in the 70’s next week.

After a short post-holiday lull, island traffic and business pick-up mid-January and boost again February 1, with February and March usually the months when the most sales occur here. After a couple of news items below is the activity posted since last Friday in the Sanibel & Captiva Islands Multiple Listing Service.

Sanibel & Captiva Islands Association of Realtors®

Early Thursday morning was our Annual Installation and Awards event. No group meeting, no shared breakfast at The Sanctuary, but a fun Zoom event with a couple of videos presented that highlight 2020. It’s always fun to transfer the gavel to the incoming President in person, though not always fun to be oldest past-President (1999). The gavel-passing video used photos taken during our years as President. Passing of the Gavel Video

Congratulations to Kelly Huguenin for being selected for the “Community Service” award and Dave Arter for “Affiliate Business Partner”. They both rallied our members through 2020, even without in-person meetings. Wendy Kirschner was “Rookie of the Year” and 23 Realtors® earned Honor Society membership (my 28^th year). 2020 Awards Video

Florida Realtors®

On Wednesday and Thursday, I attended more Florida Realtors® Mid-Winter Business Meetings via Zoom. At the Faculty and Curriculum Subcommittees (under the Professional Development Committee), it was reported that 58,182 Realtors® attended state-sponsored classes this year. That is almost double the number of attendees in 2019. It is excellent news to hear that over a quarter of Florida’s members made good use of COVID downtime. The GRI (Graduate Realtor Institute) series had 1,744 of those students which is a 110% jump over 2019.

Thursday, at The Resort & 2^nd Home Specialist Think Tank, it was interesting to hear that though up and down, Florida’s vacation rental market survived the pandemic and has rebounded. That market is huge with over 15 million rentals a year.

A presentation by Denis Hanks, Executive Director of the Florida VRMA (Vacation Rental Managers Assoc) in an overview of 2020, said that vacation rentals had many challenges, as we all did, because of the pandemic.

When travel was suspended, hotels and timeshares open, but vacation rentals closed or limited to 30 days, vacation rental managers struggled to comply with 67 different regulations which were often vague and varied county-to-county.

Once those vacation rentals reopened, a huge increase in “drive” visitors (versus those flying) turned Florida’s panhandle into the hot market of 2020. Throughout the state, beach markets also have done well, though their business more up and down, and bookings sporadic. With lessons learned and the industry forced to become resilient, rental managers have had to adjust quickly to new cleaning protocols and adopt new guidelines including wait periods between stays, contactless check-ins, protection of staff and guests, COVID waivers, screening, cancellation policies, deposits/refunds, taxation, and chargebacks. The state VRMA also will soon be rolling out a program to train new employees and retrain those workers coming back into the industry.

Sanibel – COVID-19

On Tuesday, Sanibel Mayor Mick Denham extended the island declared state of emergency due to COVID-19 until January 26, unless further extended. (Per State Statute, the maximum duration for a Mayoral Declaration of Emergency is seven days and thus must be updated weekly as the emergency exists.) The City face covering mandate remains in effect through the period.

From Florida Department of Health, Sanibel’s total accumulative number of COVID-19 cases since March 26 through January 20 is 188 cases. This is just the number cases for zip code residents. It does not include Captiva and the many workers and visitors that come and go. PLEASE stay vigilant – continue social distancing, hand washing, mask wearing, and avoid group gatherings. Essentially no relief yet for the thousands of county residents over 65 looking to get vaccinated.

LCEC – 13 Years

For 13 years Lee County Electric Co-op has not had a rate increase. Best electric service provider, that SanibelSusan has experienced. I am always amazed, particularly during the summer rainy season, when electric outages happen, and they respond quickly.

When a property sells, The SanibelSusan Team recommends that sellers DO NOT CANCEL their electric service, but rather TRANSFER it. That way, there is no lapse in service and the buyer is not charged a connection fee. When your property is under contract and getting ready to close, please call LCEC, tell them the date of the scheduled closing, and ask them to transfer service then. They will not take a buyer’s contact info for billing until a seller calls first. With a transfer of service, LCEC takes a meter reading to document when your service responsibility completes and the buyers begins.

Sanibel Library Ranks High

According to the January 20 “Island Reporter”, the state library rankings are out, and the Sanibel Public Library ranks at or near the top in many areas, including materials borrowed, program attendance, and percentage of population with a library card. The 2020 ratings are based on FY 2018 Florida Library Statistics, which measures 82 libraries/library systems in the state. Sanibel was ranked number one per capita (per 1,000) for: circulation (number of books or items borrowed); availability of print, audio, video and other material to check out; local and state operating revenue; and square footage availability.

The library has been at or near the top ranking for about 15 years. It has also won national Star Library Awards (top 200 public libraries of 9,000 measured nationally) for five of the last 10 years. The library has been No. 1 on Trip Advisor for “Things to Do on Sanibel” many times and has won a TripAdvisor Certificate of Excellence every year since 2014, nearing Hall of Fame status on the site.

Sanibel & Captiva Islands Multiple Listing Service Activity January 15-22, 2021

Sanibel

CONDOS

5 new listings: Spanish Cay #F2 1/1 $325K; Sundial #F307 1/1 $479K; Sandalfoot #3C1 2/2 $649,950; Sandpiper Beach #303 2/2 $825K; Kings Crown #104 2/2 $999K (our listing).

Beach path at Kings Crown

4 price changes: Sanibel Inn #3512 2/2 now $725K, Pelicans Roost #203 2/2 now $895K, Pelicans Roost #102 2/2 now $930K, Sandals #A 3/3.5 now $1.825M.

9 new sales: Sundial #F108 1/1 listed at $435K, Blind Pass #E207 2/2.5 listed at $489K, Mariner Pointe #1091 3/2 listed at $559K, Sandpebble #2D 2/2 listed at $568.5K, Kings Crown #110 2/2 listed at $795K, Pointe Santo #D35 2/2 listed at $795K, Pointe Santo #E23 2/2 listed at $899K, Sanddollar #B104 2/2 listed at $998K, By-The-Sea #B301 2/2 listed at $1.595M.

3 closed sales: Seawind #A108 2/2.5 $502.5K, Loggerhead Cay #411 2/2 $580K, Oceans Reach #4D1 2/2 $840K.

HOMES

5 new listings: 1155 Sand Castle Rd 3/2 $919K, 567 N. Yachtsman Dr 3/3 $979K, 2313 Wulfert Rd 4/3 $1.099M, 3019 Poinciana Cir 5/3.5 $1.195M, 1133 Buttonwood Ln 3/2.5 $1.395M.

3 price changes: 418 Bella Vista Way 4/4 now $1.75M, 1306 Seaspray Ln 4/4 now $4.525M, 1349 Bay Dr 4/4 now $7.395M.

7 new sales: 1835 Ardsley Way 2/2 listed at $457K, 4661 Rue Bayou 2/2 listed at $679K, 1012/1014 4/2 duplex listed at $699K, 9277 Belding Dr 3/3 listed at $850K, 5757 Pine Tree Dr 3/2.5 listed at $1.05M, 829 Pyrula Ave 3/3 listed at $1.295M, 3009 Turtle Gait Ln 4/4.5 listed at $2.595M.

8 closed sales: 956 Dixie Beach Blvd 2/1 $430K, 555 Rabbit Rd 3/2 $585K, 6141 Henderson Rd 3/2 $645K, 966 Kings Crown Dr 3/2 $965K, 3827 Coquina Dr 3/2 $1.055M, 2268 Wulfert Rd 4/5.5 $2.1M, 2411 Blue Crab Ct 4/4.5 $2.35M, 4067 West Gulf Dr 4/4.5 $5.55M.

LOTS

1 new listing: 6141 Starling Way $875K.

1 price change: 2515 Wulfert Rd now $239.5K.

3 new sales: 2372 Wulfert Rd listed at $147.5K, 5398 Osprey Ct listed at $299K, 1825 Long Point Ln listed at $389K.

1 closed sale: 4566 Buck Key Rd $148K (our listing).

Captiva

CONDOS

No new listings.

1 price change: Lands End #1615 2/2 now $1.45M.

No new or closed sales.

HOMES

No new listings or price changes.

3 new sales: 16727 Captiva Dr 5/4 listed at $1,999,999; 15146 Wiles Dr 2/2 listed at $2.389M; 16163 Captiva Dr 3/2 listed at $2.395M.

1 closed sale: 53 Sandpiper Ct 2/2.5 $886.7K.

LOTS

Nothing to report.

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

Until next Friday, Susan Andrews, aka SanibelSusan

What’s Hot in the Sanibel Island Real Estate World

Posted on January 15, 2021 by SanibelSusan

It is time to wrap up a week of iffy weather on Sanibel & Captiva. Several days have been cloudy and chilly (nights in the 50’s, days in the 60’s/low 70’s), with short shower interruptions as several cold fronts passed SW FL. (Coming from Maine, it still gives me a chuckle that 50 degrees is considered a cold front.) The forecast says, chilly days will continue until it is fully sunny again on Tuesday, followed by a warm-up next week. We are ready!

Like the weather, the red tide reports change daily. Though the news seems to report that the sky is falling, the red tide readings this week have been minimal. Here is the link again for the NOAA site that tracks those measurements in the Gulf of Mexico, https://habforecast.gcoos.org/ Most of the high readings, have been south of the islands, with Lighthouse Beach sometimes affected.

Here at SanibelSusan Realty, the team has been keeping things moving with both our listings and sales. We also have a new listing, Kings Crown #104. A bit tough to get a property sold during a pandemic when there is a paying guest, meaning one cannot get in. This renter is there until the end of the month. Makes it challenging to view a property, get professional photos, and market without having access; but we like challenges. Even sight-unseen buyers like to see what the inside looks like, but the beach there is fantastic. See below!

Beach in front of Kings Crown

Our listings had more showings this week and more action was reported in the Sanibel & Captiva Islands Multiple Listing Service. Our closing late last Friday also has been posted. That info follows a few news items below.

What’s Hot & What’s Not

First, it always makes sense to look at the larger complexes and communities. For example, at Sundial Beach & Golf Resort, 26 units sold last year, compared to 20 in 2019. Today, five units are under contract and just three are for sale. Safe to say that community is hot!

Likewise, at The Dunes, 39 homes sold last year, compared to 20 in 2019. There, four homes are under contract and just two are available.

Canal-front homes like in Sanibel Estates and Shell Harbor also sold well last year. In 2020, 37 sold, compared to 20 in 2019. There, three homes are under contract, while eight are for sale. More inventory here is somewhat indicative of what has been happening with the high-end product.

Last year on Sanibel, 503 residential properties (condos, homes, lots) sold, median price was $700,000. In 2019, 353 sold, with the same median price ($700,000). Comparing that to today’s Sanibel inventory: there are 192 properties for sale, median asking price is $859,000.

Of the 192 Sanibel properties for sale today, 26 are over $2M. Of the 503 that sold last year, only 26 were over $2M – perhaps illustrating that there is a year’s worth of high-end available.

With homes being the hottest commodity during the pandemic lockdown months, it was interesting to see lots moving once the more-affordable island homes started disappearing. Last year, 23 Sanibel vacant residential lots sold. In 2019, that number was 15. Today, 18 already have sold or are under contract.

Condo sales which were a little sluggish during the lockdown are moving well now too. First quarter, when the most condo visitors are in town, is generally when we sell the most condos. This year should be no exception, however, just 84 Sanibel condos are available, compared to 192 sales in 2020, 127 in 2019, 29 under contract.

Florida Realtors®

Florida Realtors® Mid-Winter Business Meetings have begun. This is when the state committees meet (via Zoom, this year) and the annual installation of officers occurs. Wed morning, I attended the Forms Content Committee meeting. Next week, I’ll be Zooming in at the Realtor® Town Hall, Faculty and Curriculum Subcommittees, and Resort & 2^nd Home Specialist Think Tank.

Sanibel – COVID-19

On Tuesday, Sanibel Mayor Mick Denham extended the island declared state of emergency due to COVID-19 until January 19, unless further extended. (Per State Statute, the maximum duration for a Mayoral Declaration of Emergency is seven days and thus must be updated weekly as the emergency exists.) The City face covering mandate remains in effect through the period.

From Florida Department of Health, Sanibel’s total accumulative number of COVID-19 cases since March 26 through January 14 is 176 cases. Locals are trying to stay calm, but that is 19 cases in seven days. This is just the number cases for zip code residents. It does not include Captiva and the many workers and visitors that come and go. PLEASE stay vigilant – continue social distancing, hand washing, mask wearing, and avoid group gatherings. Essentially no relief yet for the thousands of county residents over 65 looking to get vaccinated.

Plenty of Reasons for Optimism

Below are excerpts from an article in the January/February 2021 issue of “REALTOR®”, by National Association of Realtors® Economist, Lawrence Yun.

“The housing market was a spectacular surprise in 2020 – and the positive trend will continue this year. Home sales in 2021 are expected to rise by around 10%. Home prices will also climb, but I expect more moderate increases than we’ve seen, a break for staying at or near historic lows of 3% on average. The labor market will strengthen, especially as vaccines become widely available and life moves toward normal.

“Around 4 million net jobs could be added, a gradual rebound from the net loss of roughly 7 million during the pandemic year of 2020. The unemployment rate by the year’s end could be at 5.5%, a great improvement from 14.7% in April 2020 when the nation was under a strict lockdown, but still a few notches up from the generational low of 3.5% right before the pandemic.

Low mortgage rates have been the key reason for the housing market’s strong performance in the midst of the pandemic and high employment…. While mortgage rates are highly influential, they’re not the only factor affecting home sales. Given the substantial commitment and financial dollars at stake, consumer confidence and life-cycle events such as marriage, changes to family size, and retirement all play a role. During the pandemic, we learned that most people who work in offices could be just as productive at home, and this new reality will help fuel home sales in the post-pandemic economy. Already, big tech companies are allowing greater work-from-home flexibility. Other organizations will no doubt follow in some hybrid fashion. Perhaps the work-from-home trend was inevitable as internet speed and software improved. The pandemic just accelerated the timeline in a flash.

Owners who were content with their home before the pandemic are thinking about the benefits of another bedroom to use as a dedicated home office or are considering relocating to the countryside, knowing that commuting to downtown offices every day has become a thing of the past. Some consumers are turning to vacation properties as an appealing work-from-home option….

“The encouraging news on the home front contrasts drastically with the specter of newly empty office buildings. Those with leases are still mostly paying rent even though office spaces are not being used, and businesses with leases that are terminating are clearly reevaluating their space needs. In the second and third quarter of 2020, office usage dropped by a combined 74 million square feet. The situation will not improve until the middle of year; even then, the normal relationship between office job creation and net new leasing will not align as many companies will reevaluate and rejigger their office space needs. Downtown retail shops and eateries will also undergo a harsh transition from the reduced foot traffic….

“The housing market is facing an acute inventory shortage. Adding more demand without addressing the supply will push up home prices at an even faster clip. That is why it’s critical to turn raw land into developable lots so that homebuilders can increase production. But Biden’s proposal to remove 1031 like-kind exchanges from the tax code would hinder land sales and pile more negative pressure onto commercial real estate. Without serious reconsideration of this tax incentive, home prices could take off and essentially negate the benefit of federally supported down payment assistance programs.

“The Biden administration is also likely to appoint Federal Reserve governors who will be more tolerant of higher inflation in order to quickly bring down the unemployment rate. That means printing more money. Don’t be surprised if, over time, prices for a tangible asset like real estate consistently outpace overall consumer price inflation. Even bitcoin, with its limited supply, may attract investors.

“Finally, under a Biden presidency, overall government spending is likely to rise. The goal: Fix the economy before worrying about the deficit. Spending on programs such as high-speed internet access for rural communities and improved rail transportation to distant suburbs will have a positive impact, since demand will continue to increase outside of city centers. Land is plentiful and relatively cheap, making it easier for homebuilders to construct homes. Only when the supply of new homes is growing does stimulating additional demand make sense.

Looking to File for a Florida Homestead Exemption?

This Homestead Exemption is a constitutional benefit of up to a $50,000 exemption removed from the assessed value of your property. It is granted to those applicants who possess title to real property and are bona fide Florida residents living in the dwelling and making it their permanent home on January 1. Documentation that proves you were a resident at the homestead property is required.

Rental of the Homestead Property – Property owners who receive the homestead exemption on their residence need to be aware that personally renting their property or renting through home-sharing or collaborative consumption companies may constitute abandonment and, therefore, loss of the homestead tax exemption. Renting typically means exclusive use by a tenant on a temporary, seasonal, or annual basis. If you plan to rent, please contact the appropriate legal advisers to be sure that you do not jeopardize your homestead exemption. Relinquishing your homestead exemption will increase your property taxes.

Value Limitations (caps) – Properties granted homestead exemption automatically receive the “Save Our Homes” benefit. This is a constitutional benefit approved by the Florida voters in 1992. It places a limitation of 3% on annual assessment increase on homestead properties beginning with the 1995 tax year. For properties granted homestead exemption in the prior years, that assessed value will be the base value for the implementation of “Save Our Homes”. Thereafter, the assessed value will not increase more than 3% or the Consumer Price Index, whichever is less. Exceptions to that limitation include new additions or construction that escaped taxation in the past. When a homestead property sells, the assessed value returns to fair market value in the year following the sale. That value assessment then becomes the new owner/homestead applicant’s base value for “Save Our Homes” purposes.

When to File – Florida law requires that application for a new Florida Homestead Exemption be made by March 1^st to be eligible for up to a $50,000 Homestead Exemption. Only new applicants or those who had a change of residence need apply. Automatic renewals are mailed in January each year. The Lee County Property Appraiser’s Office offers on-line filing for Homestead Exemption is at www.LeePA.org.

There are two ways to apply, depending on certain criteria. If you meet ALL of the criteria below, application may be made online using the “Quick Apply Form”:

You are applying for Homestead Exemption ONLY
You are applying for yourself or you and your spouse
You have a valid Florid Drivers License for both you and your spouse (if applying together), and the Drivers License shows the address of the property you would like to apply for
You resided in the home prior to January 1, 2021.

If ANY of the criteria below apply, use their Homestead Online form:

You are applying for Homestead Exemption AND Portability
You are applying for Homestead Exemption for owners other than you and your spouse
You are married and your spouse is NOT applying
You have a partial interest in the property that you are applying for.

Sanibel & Captiva Islands Multiple Listing Service Activity January 8-15, 2021

Sanibel

CONDOS

4 new listings: Captains Walk #B3 1/1 $299.9K, Sanibel Arms West #A3 2/2 $529K, Sanibel Arms West #B5 2/2 $569K, Pointe Santo #E22 2/2 $899K.

7 price changes: Sundial #F108 1/1 now $435K, Sanibel Arms West #J3 2/2 now $569K, Cottage Colony West #125 1/1 now $599K, Cottage Colony West #119 1/1 now $609K, Sandalfoot #3C3 2/2 now $698K, Sand Pointe #113 2/2 now $789K, Sundial #P402 2/2 now $1.189M.

6 new sales: Mariner Pointe #1043 2/2 listed at $490K, Sundial #G406 1/1 listed at $519K, Sandpiper Beach #401 2/2 listed at $775K, Sandpiper Beach #205 2/2 listed at $815K, Sanctuary Golf Villages #1-5 2/2.5 listed at $999K, Sandpiper West #1 3/3 listed at $2.15M.

3 closed sales: Beach Road Villas #105 2/2 $479K, Mariner Pointe #522 2/2 $484.9K (our listing), Breakers West #B5 2/2 $560K.

View from Mariner Pointe #522

HOMES

9 new listings: 4661 Rue Bayou 2/2 $679K, 5100 Sea Bell Rd 3/2.5 $868K, 4202 Old Banyan Way 3/2 $899.5K, 1147 Buttonwood Ln 3/2 $1.335M, 751 Windlass Way 5/5 $1.595M, 940 Whelk Dr 3/2 $1.595M, 3910 Coquina Dr 6/4 $1.95M, 1680 Hibiscus Dr 3/3.5 $2.15M, 1266 Isabel Dr 3/3 $2.895M.

1 price change: 1430 Sanderling Cir 3.5 now $799K.

10 new sales: 956 Dixie Beach Blvd 2/1 listed at $449K, 1415 Sandpiper Cir 2/2 half-duplex listed at $459K, 1076 Sand Castle Rd 2/2 listed at $750K, 9421 Moonlight Dr 3/2 listed at $775K, 1030 Kings Crown Dr 2/2 listed at $879.9K, 1308 Eagle Run Dr 4/4 listed at $1.549M, 784 Birdie View Pt 4/4 listed at $1.795M, 5771 Baltusrol Ct 3/4 listed at $1.8M, 2564 Wulfert Rd 4/5.5 listed at $1.929M, 2336 Starfish Ln 3/2.5 listed at $2.195M.

5 closed sales: 753 Nerita St 3/2 $545K, 1001 East Gulf Dr 2/2 $595K, 1073 Sand Castle Rd 3/2 $740K, 482 Lake Murex Cir 3/2 $780K, 2984 Island Inn Rd 3/2 $815K.

LOTS

1 new listing: 9042 Mockingbird Dr $395K.

2 price changes: 3013 Poinciana Cir now $249.9K, 2933 Wulfert Rd now $349K.

1 new sale: 6095 Dinkins Lake Rd listed at $269,555.

1 closed sale: 1313 Par View Dr $300K.

Captiva

CONDOS

No new listings.

1 price change: Beach Homes #6 3/3 now $2.879M.

2 new sales: Tennis Villas #3136 1/1 listed at $340K, Beach Homes #25 3/2 listed at $1.995M.

No closed sales.

HOMES

2 new listings: 14865 Captiva Dr 4/4 $1.699M, 14980 Binder Dr 4/4 $2.55M.

2 price changes: 11544 Wightman Ln 4/4.5 now $2.25M, 16500 Captiva Dr 6/6/2 now $6.289M.

3 new sales: 11520 Wightman Ln 3/2 listed at $2.589M, 16189 Captiva Dr 6/4 listed at $3.699M, 1119 Schefflera Ct 4/3.5 listed at $5.975M.

1 closed sale: 11521 Laika Ln 3/3 $1.275M.

LOTS

Nothing to report.

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

Until next Friday, stay warm, safe, & smiling! Susan Andrews, aka SanibelSusan

Ready to Set New Records in 2021

Posted on January 8, 2021 by SanibelSusan

Welcome to the 2^nd Friday Sanibel/Captiva real estate update in 2021. With the holidays over and a home inspection this afternoon, we are wrapping up another productive week at SanibelSusan Realty – two more sales, more listings shown, more action items accomplished for both listings and upcoming closings, and a closing late today. The last time we had seven sales on the books in just the first week of the year was back in 2004 which was our record year, so we are crossing our fingers to break that record in 2021.

Traffic lessened last weekend when many holiday visitors departed. Unfortunately, coronavirus numbers are up and expected to go higher. Below are a couple of news items, including COVID update, followed by the action since last Friday in the Sanibel & Captiva Islands Multiple Listing Service.

Sanibel & Captiva Island Association of Realtors®

Though still not meeting in person, our local Association of Realtors® held a Zoom meeting Wednesday with required attendance by our Board of Directors and members serving as 2021 Ombudsmen or on Grievance and Professional Standards Committees. That annual training updates the leadership team on recent changes regarding ethics and arbitration issues. Thanks to Marcia Tabak, Deputy General Counsel at Florida Realtors®, for hosting.

Thursday morning was a Zoom Caravan meeting for our entire membership. No new listings were open for caravan viewing, but both Jim Hall (VIP Realty Group) and I announced new sales. No price reductions were announced. My announcement of our new listing at Sandalfoot #3B3, was the only new listing mentioned.

The next Caravan meeting will follow our Annual Installation of Officers and Awards Ceremony at 8 a.m. Jan 17, also on Zoom.

With most of the year-end closings now posted on the Sanibel & Captiva Islands Multiple Listing Service, below is an update of the statistics. Shown are the recent sales action, compared to 2019, and inventory today. To say, more listings are needed is an understatement. Many Realtors® have buyers awaiting the perfect property that meets their requirements.

SANIBEL	Condos		Homes		Lots
SANIBEL	#	Avg Price	#	Avg Price	#	Avg Price
Available	86	820,012	63	2,036,258	45	816,216
Under Contract	27	709,322	53	1,346,665	17	783,177
Sold 2021 to-date	2	995,000	3	1,324,666	1	265,000
Sold 2020	192	733,876	288	951,487	23	606,233
Sold 2019	127	694,392	211	949,790	15	372,200

CAPTIVA	Condos		Homes		Lots
CAPTIVA	#	Avg Price	#	Avg Price	#	Avg Price
Available	20	1,622,849	32	3,713,937	3	5,131,666
Under Contract	8	787,375	8	787,375	0	N/A
Sold 2021 to-date	1	2,700,000	2	2,762,500	O	N/A
Sold 2020	47	821,713	27	2,923,148	4	2,537,500
Sold 2019	29	1,037,077	17	2,737,503	1	1,375,000

Sanibel – COVID-19

On Tuesday, Sanibel Mayor Mick Denham extended the island declared state of emergency due to COVID-19 until January 12, unless further extended. (Per State Statute, the maximum duration for a Mayoral Declaration of Emergency is seven days and thus must be updated weekly as the emergency exists.) The City face covering mandate remains in effect through the period.

From Florida Department of Health, Sanibel’s total accumulative number of COVID-19 cases since March 26 through 9 a.m. January 7 is 157 cases. Twenty-one were reported just last week. This is just the number cases for zip code residents. It does not include Captiva and the many workers and visitors that come and go. PLEASE stay vigilant – continue social distancing, hand washing, mask wearing, and avoid group gatherings.

Vaccination Rollout Update from Florida Department of Health & Lee County Government

FYI, as posted yesterday on http://www.MySanibel.com:

“Fort Myers, FL, Jan. 7, 2021 – Tidal Basin, the state’s call-center vendor for COVID-19 vaccinations for seniors and front-line medical workers, earlier this week captured more than 10,000 phone calls in 11 minutes when its new reservation line opened. The Florida Department of Health-Lee (FDOH) and Lee County today have announced that next Tuesday and Wednesday’s allocation of vaccinations at the current site will be used for those additional callers, most of whom now have been pre-registered by the vendor.

“The phone line for reservations is currently closed and remains closed; residents are asked to not dial the call center. The state and county will announce when additional vaccine doses are available and the line reopens. Visit www.leegov.com/vaccine

“Tidal Basin will begin placing calls to schedule the pre-registered slots beginning this afternoon through Monday. Not every pre-registered individual will receive a scheduling call today. Shots will be administered between 8 a.m. and 6 p.m. Tuesday and Wednesday, Jan. 12 and 13.

“DOH-Lee anticipates administering about 4,000 doses during those two days at the current site, which is east of Interstate 75 off Daniels Parkway. It’s the site of the old airport terminal parking lot off Paul J. Doherty Parkway. The site has proved a successful solution to vaccinating thousands of people 65 and older without an unnecessary wait. Traffic to and from the site is flowing; parking is ample; people with appointments are not experiencing delays. Public transportation is available to the site.

“By close of business today, more than 11,000 individuals will have been vaccinated at Lee County sites. This total does not include medical workers vaccinated at separate sites by the Florida Department of Health-Lee or vaccinations issued by other entities such as Lee Health.

“FDOH-Lee and the county soon will announce information about the second dose of the vaccine and how scheduling will be handled.

“The state and county have requested that Tidal Basin stand up a help line or call center for pre-registered people who have questions. Details will be announced when they become available at www.leegov.com/vaccine .

“As COVID-19 vaccine distribution continues, the Lee County Sheriff’s Office advises to be aware of emerging fraud schemes, such as:

Calls asking to pay out of pocket to get the vaccine.
Calls asking to pay to put your name on a vaccine waiting list or to get early access.
Advertisements for vaccines through social media platforms, email, telephone calls, online or from unsolicited/unknown sources.
Marketers offering to sell or ship doses of the vaccine for payment.
Requests from someone unknown to an individual asking for a social security number, bank account information or credit card information.

“Lee County residents who believe they have been the victim of COVID-19 fraud can report it to:

Lee County Sheriff’s Office fraud line – 258-3292
HHS-OIG Hotline: 1-800-HHS-TIPS or log on to hhs.gov
FBI Hotline: 1-800-CALL-FBI
CMS/Medicare Hotline: 1-800-MEDICARE

“Additional information: Complete information can be found at www.leegov.com/vaccine . People can visit Lee County Government Facebook and other social media channels (www.leegov.com/socialmedia ) or monitor Florida DOH’s Twitter @flhealthlee. The United Way 211 line for vaccine questions is staffed 24/7. Dial 211 or 239-433-3900. This is not a reservation or appointment phone line.”

2021 Resolution: Cut Risk – 15 Steps to Resolve Legal Issues

Posted on FloridaRealtors® this week, the below article is sourced to Gary M. Singer, “Sun Sentinel” (Fort Lauderdale, FL). Distributed by Tribune Content Agency, LLC. It has some excellent points.

“Many legal troubles start with phrases like “I didn’t realize that …” or “I didn’t read that part of the document.” To lower risk and avoid trouble, ask questions, read contracts, do research, take notes, record with cellphone photos and take an extra day to think about things.

“FORT LAUDERDALE, Fla. – As another year starts, it’s once again time to discuss some lessons we’ve learned in dealing with real estate law issues. Therefore, I present to you, in no particular order, some best practices you can use when dealing with any legal matter.

Do not sign anything you have not read and understood.
Do not be afraid to ask questions, and do not feel you must accept the answers at face value.
If you have any doubt as to what you are told, do more research.
There are very few things that cannot wait one day while you think about it.
Whenever a situation seems like it might become a problem, take lots of notes and cell phone photos.
If you come to a meaningful agreement on a telephone call, send an email to the person you spoke with to confirm the details.
While confrontation can be uncomfortable, the best and least expensive way of resolving a dispute is speaking calmly to the responsible party about the issue.
If the branches from your neighbor’s tree hang over your property line, you can safely trim them back, at your expense, as long as you do not damage the tree’s health.
Consult with an estate planning professional to get your will done.
If you are buying a property with someone you are not married to, it is good to get a joint property ownership agreement prepared.
If you rent a home, you should read the landlord-tenant statute; it is relatively easy to read and acts as an instruction manual.
When buying a property in a condominium or homeowners association, you need to understand the rules and live by them. If this idea does not work for you, find a different property.
Don’t underestimate the importance of insurance and the importance of shopping around for the best price.
Some have said that good fences make good neighbors, but I find it is more accurate to say that good people make good neighbors.
As hard as it can be to sift through the junk, it is essential to check your mail for important notices regularly.

“It has been a rough year. I hope these tips will help your new year be a better one.”

Wildlife Refuge Status Update

From today’s “Ding” on the Wing”: The J.N. “Ding” Darling National Wildlife Refuge has announced changes to scheduling due to the lingering effects of the pandemic. Until further notice, the Visitor & Education Center will be closed every Sunday.

Monday through Saturday 9 a.m. to 4 p.m., the front desk and Refuge Nature Store will be open in the Center. All exhibits remain closed. The Center’s restrooms will stay open daily 9 a.m. to 4 p.m., and Wildlife Drive will continue with its seasonal schedule of Saturday to Thursday 7 a.m. to 5:30 p.m.

recreation concession tours and rentals will operate according to their regular schedule. Stay up-to-date on Refuge news and events at our COVID-19 page.

Sanibel & Captiva Islands Multiple Listing Service Activity January 1-8, 2021

Sanibel

CONDOS

4 new listings: Sanibel Moorings #242 1/1 $424.5K, Blind Pass #E207 2/2.5 $489K, Sanibel Arms West #F1 2/2 $949K, White Pelican #111 2/2 $1.2999M.

3 price changes: Blind Pass #E101 2/2 now $485K, Loggerhead Cay #274 2/2 now $669K, Sandpiper Beach #401 2/2 now $775K.

7 new sales: Sundial #I102 1/1 listed at $450K, Sanibel Arms West #H6 2/2 listed at $579K, Sanibel Moorings #441 2/2 listed at $585K, Loggerhead Cay #542 2/2 listed at $685K, Surfside 12 #A4 3/2 listed at $849K, Yacht Haven #4 3/2 listed at $895K, Sundial #L205 3/2 listed at $1.395M.

6 closed sales: Tennisplace #B24 2/2 $350K, Spanish Cay #F4 2/2 $390K, Blind Pass #G201 2/2 $520K, Sanibel Arms West #K7 2/2 $550K, Sanibel Moorings #932 2/2 $562K, Somerset #A101 3/2.5 $1.6M.

HOMES

3 new listings: 2620 West Gulf Dr 3/2 $799K, 1890 Middle Gulf Dr 3/3 $1.2M, 1283 Isabel Dr 3/2 $1.925M.

4 price changes: 9254 Kincaid Ct 2/2 now $493K, 1560 Royal Poinciana Cir 3/2 now $899K, 837 Sand Dollar Dr 3/3.5 now $1.995M, 1761 Venus Dr 4/3.5 now $2.095M.

11 new sales: 1684 Bunting Ln 2/2 listed at $514,555; 315 East Gulf Dr 3/2 half-duplex listed at $559K; 430 Old Trail Rd 3/2.5 listed at $629K; 610 Hideaway Ct 3/2 listed at $699K (our buyer); 566 Boulder Dr 3/2 listed at $739K; 1076 Sand Castle Rd 2/2 listed at $750K; 2010 Wild Lime Dr 4/4 listed at $759K; 2001/2003 Mitzi Ln 6/6 duplex listed at $859K; 1672 Hibiscus Dr 3/2 listed at $899K; 215 Hurricane Ln 3/3 listed at $1.089M; 815 Birdie View Pt 3/3 listed at $1.395M.

5 closed sales: 1667 Atlanta Plaza Dr 2/1.5 $413K, 718 Durion Ct 3/2 $550K, 705 Rabbit Rd 3/3 $699K, 215 Hurricane Ln 3/3 $1.029M, 1718 Jewel Box Dr 4/4.5 $2.725M.

LOTS

1 new listing: 717 Birdie View Pt $399K.

1 price change: 1292 Par View Dr now $349.9K.

7 new sales: 1894 Farm Trl listed at $199K (our listing & buyer), 9436 Beverly Ln listed at $235K, 3354 Barra Cir listed at $365K, 602 Boulder Dr listed at $399K, 836 Limpet Dr listed at $1.345M, 1159 Golden Olive Ct listed at $1.599M, 1246 Seagrape Ln listed at $2.789M.

1 closed sale: 5627 Baltusrol Ct $265K.

Captiva

CONDOS

No new listings, price changes, or new sales.

1 closed sale: Lands End Village #1628 4/4 $2.7M.

HOMES

No new listings or price changes.

1 new sale: 11431 Dickey Ln 3/2 listed at $1,168,500.

3 closed sales: 11523 Andy Rosse Ln 5/5.5 $1.975M, 11555 Wightman Ln 3/2 $3.55M, 15831 Captiva Dr 2/2.5 $5M.

LOTS

Nothing to report.

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

Until next Friday, stay safe,

Susan Andrews, aka SanibelSusan

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At SanibelSusan Realty

Pandemic Update

Membership Offerings at The Sanctuary

Happy Easter

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

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Sanibel Real Estate Inventory

Pandemic Update

Florida’s Housing Market: More Sales, Higher Median Prices

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

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Best Beach Town is “Sanibel Island”

Sanibel & Captiva Real Estate Scoop

The Brighter Path Ahead

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

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

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At SanibelSusan Realty

Sanibel – COVID-19

Fannie, Freddie Tighten Rules for Condos in Vacation Locales

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

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The Island Real Estate World

Sanibel – COVID-19

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

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Sanibel & Captiva Islands Association of Realtors®

Florida Realtors®

Condo Question & Answer: What Happens If Reserve Funds Aren’t Enough?

Sanibel – COVID-19

Sanibel & Captiva Islands Multiple Listing Service Activity Jan 22-29, 2021

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Sanibel & Captiva Islands Association of Realtors®

Florida Realtors®

Sanibel – COVID-19

LCEC – 13 Years

Sanibel Library Ranks High

Sanibel & Captiva Islands Multiple Listing Service Activity January 15-22, 2021

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What’s Hot & What’s Not

Florida Realtors®

Sanibel – COVID-19

Plenty of Reasons for Optimism

Looking to File for a Florida Homestead Exemption?

Sanibel & Captiva Islands Multiple Listing Service Activity January 8-15, 2021

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Sanibel & Captiva Island Association of Realtors®

Sanibel – COVID-19

Vaccination Rollout Update from Florida Department of Health & Lee County Government

2021 Resolution: Cut Risk – 15 Steps to Resolve Legal Issues

Wildlife Refuge Status Update

Sanibel & Captiva Islands Multiple Listing Service Activity January 1-8, 2021

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