Tag Archives: Water Quality

Hibiscus, Frangipani, Bougainvillea, oh my…

Posted on by
Reply

It’s SanibelSusan reporting that even with the upcoming 3-day holiday weekend, it has been another quiet week on the islands.

This year, many prospective visitors and buyers have inquired about water quality. This week, surrounding waters – both bay and gulf – are back to a clear glistening bright blue. Social media is full of terrific photos. Here’s a favorite.

beach 05-24-16

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

Island Abloom

In addition to the sparkling waters creating some wonderful photo opportunities, many trees here are in bright bloom. May is always a special month for that.

In my travels this week to Sanibel Moorings, the crab apple, orchid, and Royal Poinciana trees were just past their prime, while in The Dunes I spied flowering hibiscus and frangipani.

Hibiscus Tree 05-16.jpg

Hibiscus tree on Sand Castle Road in The Dunes.

 

Apple 05-16.jpg

Sanibel Moorings where their grounds officially became a botanical garden in 2009. Public tours are available Tuesdays at 9 a.m., but advance appointments needed.

 

Frangipani Dunes 05-2016.jpg

Frangipani blooming in The Dunes.

 

My yard too is busting out in bloom.

My house 05-16.jpg

My favorite tree is the flowering bougainvillea, but the smaller bougainvillea, drift roses, & geraniums are happy in May too!

Quiet May

I try to get out of the office every day for a short lunch with business colleagues. Being in a small office and involved in the Realtor® leadership team, it’s a good way to stay in the loop and up-to-date on island scoop. When workload permits, it has been my routine for years. Through that time I’ve found that noon-time occupancy at island restaurants is a good gauge of how busy the islands are. When popular spots have few patrons, and the out-of-the-way spots are empty, you know things are slow. Those were the findings this week.

So, if you are planning a future trip to the islands, be sure and add May as an optimum time. Not only is it beautiful and the weather great, but it is quiet too! Also a good time to look at real estate since fewer properties are occupied.

Sanibel & Captiva Islands Association of Realtors®

Sanibel realtors logoThe islands Association of Realtors® met yesterday for a Caravan Meeting. Attendance was light at this meeting too.

Since through the summer, the Association meets only every two weeks, there were several announcements including our new listing at Loggerhead Cay #264 (which this year should gross a whopping $60K).

View.jpg

View from Loggerhead Cay #264, top floor, asking $598,300

I announced two listing price reductions too (Coquina Beach #3G to $499K and Sanibel Moorings #822 to $449K).

Beach b

The gulf in front of Coquina Beach.

 

Pool b.jpg

Sanibel Moorings is like a mini-resort, this is just one of the pools.

 

Other Realtor® announcements included several other new listings. It’s an unusual time of the year for those.

Today, Sanibel condo inventory is back up over 100 units again, 78 have sold/closed year-to-date. There are 159 Sanibel homes for sale, with 89 sold/closed this year. Average condo asking price is $792K. Average home price $1.365M.

In Captiva, 33 condos are for sale, 9 have sold/closed this year. There also are 33 Captiva homes for sale, with 14 sold/closed so far in 2016. Average condo asking price is $871K. Average home price $3.421M.

Sanibel & Captiva Islands Multiple Listing Service Activity May 20-27, 2016

Sanibel

CONDOS

5 new listings: Mariner Pointe #813 2/2 $449K, Compass Point #222 2/2 $689K, Sundial West #A203 1/1 $724.5K, Loggerhead Cay #103 2/2 $1.079M, High Tide #A302 3/2 $1.795M.

5 price changes: Blind Pass #A102 2/2 now $399K, Coquina Beach #3G 2/2 now $499K (our listing), Surfside 12 #B1 3/2 now $899K, Surfside 12 #B3 3/2 now $1.124M, Pine Cove #102 3/2 now $1.479M.

2 new sales: Seashells #14 2/2 listed at $379K, Sanibel Moorings #421 2/2 listed at $449K.

5 closed sales: Coquina Beach #5D 2/2 $353K, Sanibel Siesta #402 2/2 $515K, Lighthouse Point #325 2/2 $815K, Yacht Haven #2 3/2 $925K, Seascape #301 3/3 $1.15M.

HOMES

6 new listings: 610 Donax St 5/3 multi-family (lease-hold) $450K, 5240 Caloosa End Ln 3/3 $1.0799M, 615 Hideaway Ct 3/2.5 $1.195M, 2251 Starfish Ln 4/3.5 $1.295M, 519 Kinzie Island Ct 3/2.5 $1.45M, 1842 Woodring Rd 3/3.5 $2.449M.

5 price changes: 340 East Gulf Dr 2/2 now $599K, 4648 Buck Key Rd 3/2 now $619K, 588 Hideaway Ct 3/2 now $744.5K, 1112 Olga Ave 6/2.5 duplex now $874.5K, 584 Kinzie Island Ct 3/4 now $1.795M.

3 new sales: 441 Lake Murex Cir 3/3 listed at $569K, 938 Strangler Fig Ln 2/2 listed at $599K, 4014 West Gulf Dr 3/2/2 listed at $1.595M.

5 closed sales: 1216 Par View Dr 3/2 $715K, 1438 Albatross Rd 4/3 $770K, 841 Lindgren Blvd 2/2 $850K, 767 Sand Dollar Dr 3/2 $1.3M, 830 Limpet Dr 4/4.5 $1.46M.

LOTS

1 new listing: 2479 Harbour Ln $535K.

1 price change: 6519 Pine Ave now $895K.

No new or closed sales.

Captiva

CONDOS

Nothing to report.

HOMES

Nothing to report.

LOTS

No new listings or price changes.

1 new sale: 16298 Captiva Dr listed at $4.999M.

No closed sales.

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

Memorial Day Eagle FlagHappy Memorial Day Weekend!

Susan Andrews, aka SanibelSusan

Baywaters Back to a Glistening Blue

Posted on by
1

It has been another nice weather, low traffic week on Sanibel. The Sanibel/Captiva Realtors® Caravan Meeting held yesterday had light attendance with several colleagues from the local leadership team and office staff being in DC as described in the write-up below.

After a few other news items is a summary of the action posted in the Sanibel & Captiva Islands Multiple Listing Service over the last seven days. Note our new listing at Loggerhead Cay. Known as Sanibel’s Rainbow, it earns phenomenal income!

Realtors® Gathered in Washington This Week

NAR_midyear_logo_hp2014_conventionThousands of Realtors® from across the nation met with legislators, regulators and industry leaders this week during their annual Legislative Meetings and Trade Expo. More than 8,500 Realtors and guests have been in Washington, D.C. attending these meetings which began Monday and run through tomorrow. As posted earlier on “FloridaRealtors®”:

“There is a wide range of residential and commercial real estate issues that are of high importance to Realtors and are coming to a head right now, so we’ll be using the strength of our combined voices to remind members of Congress to maintain sound real estate markets,” says National Association of Realtors (NAR) President Tom Salomone, broker-owner of Real Estate II Inc. in Coral Springs, Fla., who served as Florida Realtors president in 2003. “Furthermore, we’ll be setting the stage for next year, after the elections, when House and Senate leaders on both sides of the aisle are expected to move tax reform proposals,” Salomone adds.

“Conference attendees will hear from industry and political leaders, including Housing and Urban Development (HUD) Secretary Julián Castro, who will discuss student loan debt. U.S. Sen. Elizabeth Warren (D-Mass.), will share perspectives on housing finance and student debt; political pollsters Peter Hart and Bill McInturff will offer insights into the mood of the country and its impact on the 2016 presidential and congressional campaigns; investigative journalist and author Bob Woodward will share his thoughts on the presidential elections; and Wells Fargo economist Mark Vitner will discuss financial and commercial real estate markets. NAR Chief Economist Lawrence Yun will also share residential and commercial real estate market updates and forecasts.

“Throughout the week, Realtors will also visit Capitol Hill and meet directly with members of Congress and their staff to discuss the legislative and regulatory environment’s effect on residential and commercial real estate. Among the high-profile policy issues that Realtors will raise:

  • Extending the Mortgage Forgiveness Debt Relief Act
  • Maintaining important real estate tax policies
  • Federal Housing Administration reforms
  • Ensuring Fannie Mae and Freddie Mac mortgage guarantee fees aren’t extended, increased or diverted for unrelated government spending

“Attendees will also be conducting in-person meetings with officials and staff at the White House and more than a half dozen regulatory agencies, including the Environmental Protection Agency, Federal Housing Finance Agency, Department of Agriculture’s Rural Housing Service, Department of Transportation’s Federal Aviation Administration, and the Department of Veterans Affairs.”

Sanibel Plays Flood Insurance Points Game

santiva chronicleIt can be challenging describing to prospective island property owners how Sanibel fits into the federal flood insurance equation. These buyers often think that because Sanibel is a barrier island that flood insurance is not an option and if available it would be cost prohibitive. Homeowners and lenders, however, often want the protection of this insurance.

The below article was posted on line yesterday by “Santiva-Chronicle”. Written by their Editor David Staver, it is a good explanation of the changes that went before Sanibel Planning Commission this week.

“Flood insurance. It’s a points game. That means keeping score and it should be simple. It’s anything but simple.

NationalFloodInsuranceProgr“The Sanibel Planning Commission gave its approval Tuesday, May 10, to the removal from the city code of a pair of flood insurance-related restrictions that are no longer required by the Federal Emergency Management Agency. They are the five-year cost accumulation period and the 50% rule for substantial improvements.

There’s no use going into what those two restrictions are since they will come off the books in July when the City Council can give final approval to their removal. No one will have to worry about them after July and anyone who has been hampered by them knows how they work. But the complexity of them is a microcosm of flood insurance – the points game.

“The points game begins with a community’s rating which is somewhere between 1 and 10. Hitting it with a broad brush, a community with a 1 will never flood and a community with a 10 not only will flood, but doesn’t care either.

“Sanibel obviously cares and its rating is 5. That gives property owners here a 25% discount on flood insurance premiums. Recently the consulting firm TetraTech did a detailed analysis of the city’s flood insurance status. What the city learned is that 5 is about as good as its going to get here. TetraTech identified what Sanibel would have to do to achieve a 4, and, for that matter, a 3 and a 2 too. Most of that was out of the question. Hitting it with a broad brush again, any development in the city would basically have to go three feet more in the air than it is now. That’s something the City Council doesn’t think Sanibel can stomach without undue hardship.

“It’s all about points. Raising everything in the air would get a bunch of points in the Community Rating System. Towns and cities that aren’t flood prone get a bunch of points for just being where they are. Sanibel is an island. It will never score well in this critical category. So it has to go looking for points elsewhere to make sure it keeps its Class 5 rating in the CRS, which is constantly adjusting what and how many points it awards for this and that.

There are some low-hanging points. The CRS changed the way it provides points for telling prospective buyers more about the floodplain risk. TetraTech said the city could snag 20 points by preparing a flood depth map and then making it available and publicizing it. Sanibel has already contracted with Johnson Engineering to make the map and no city does publicity better than Sanibel, so that’s 20 points to be had.

“More points are also to be had with better public outreach, says TetraTech. Again, Sanibel is on the case. The city has coordinated with Lee County and surrounding communities to form a Multijurisdictional Program for Public Information. The MJPPI requires an annual commitment for public outreach and obligates the city to print brochures and do mailings throughout the year. That’s money and more work, but it’s points that can be had.

The TetraTech report found that the cost accumulation and 50% rules were no longer applicable and by July they will be gone. That won’t hurt the city’s rating. In the meantime Sanibel is trying to build up its point total from its sea level location. It’s all about location and when it comes to flood insurance, it’s about points too.”

Progress on Projects on Sanibel Island

SCA-View-2.jpg

Rendering of the new Sanibel Community House renovation

Community House Renovation – With its $3 million capital campaign nearly complete, the Sanibel Community Association board and staff members gathered Monday at The Community House to officially break ground on a six-month reconstruction, restoration, renovation and expansion project. Improvements to the nearly 90-year old structure will include: restoration of historic North Room; new exterior olde-Florida design including new roof, porch-style entry/drop-off area; redesign inside creating a more open flexible floor plan; kitchen redesign/update and expanded restrooms; new conference room; redesign of offices/storage spaces updating audio, video, – in 1927, more than 50 island organizations and over 50,000 attendees use The Community House each year. Congrats to my friend, fellow-BIG ARTS Chorus alto, and architect Amy Nowacki who completed the renovation design.

1927 Community House North Room

The Community House in 1927

 

AT&T Donax cell towerAT&T Cell Service – Gotta love it when you get info about island happenings from FaceBook. Tuesday, City Manager Judie Zimomra posted this photo of the work underway on the cell phone tower (aka tall flag pole) on Donax Street. AT&T is adding their equipment there. Those of us living on Sanibel’s east-end are all anxious for the work to be complete. For years, my home has required its own min-cell tower to get coverage. Hopefully when this is done, east-end cell service will improve.

LCVCB logoLee County Visitor & Convention Bureau – Yesterday, City Manager Zimomra also posted a photo taken at the local tourism board where she said they “voted to approve $2.43 million in grants from bed taxes to the City of Sanibel to protect and maintain our beaches in their natural state…thanks to our Mayor Kevin Ruane for his support through the process and the excellent work by all the staff on the teams that prepared our grant applications…our Friends at Ding Darling were awarded an addition $35,000 for educational purposes.”

Summer Vegetation Trimming Begins – On Monday, May 16, from 7:30 a.m. to 5 p.m., vegetation along the west side of Tarpon Bay Road will be trimmed from Island Inn Road to West Gulf Drive.

Water Quality Continues to Improve

bay May 2016

1st week of May 2016 – San Carlos Bay toward the causeway

 

Good news reported this week by the “Islander” when it was posted that “The clarity of the waters surrounding Sanibel Island continue to see improvements as less flow is released from Lake Okeechobee.

“James Evans, Director of Natural Resources said as of Monday, May 2, the elevation of Lake O was 14.15 feet dropping approximately 0.93 feet during the past month. He said as long as the dry conditions persist the lake should be 13.5 feet by June 1, which should put them in good position going into the rainy season.

“”There’s different weather patterns that are starting to form. The water managers are really focusing on a potential strengthening La Nina pattern and that could mean a drier wet season,” Evans said. “Obviously as we move into the raining season with a dryer pattern, there could be some concerns about water supply. It’s the balance between getting water out of the lake, but not too much water to make sure we have water for dry season flows next fall and winter and having water supply for the Everglades agricultural area and other parts of the system.”

“Because of the drier conditions in April, the Corps have steadily been cutting back on the release of Lake O. On April 22, they reduced the pulse released from 3,000 to 2,500 CFS. On April 29, further reductions were made from 2,500 to 2,000 CFS.

“If you have noticed driving across the causeway the water is getting quite clear out there and along our gulf beaches are really starting to clear up,” Evans said, which is great.

“He said although the target flows are around 2,000 CFS, they are seeing slightly higher average flows. Evans said the flows are closer to 2,700 CFS, so it is surprising that the water is as clear as it is out in the bay right now.

“He said about 90% of the water they are receiving right now is coming from the lake because there is no rainfall in the watershed. With the improved water clarity, he said they are seeing better salinity, which in turn is helping the oyster beds and sea grass.

“Mayor Kevin Ruane said they have divided responsibilities among the council to talk about water quality. He said the “white paper” walks about what they would like and what is necessary, all science based and adopted by Florida entities.

“Vice Mayor Mick Denham said one of the misunderstandings is that even if they could completely stop the flows from Lake O coming down the Caloosahatchee they would still get some issues with water in the estuaries that they do not want. He said they get a good amount of water from the Caloosahatchee Basin when there is a rain event.

“”If we could stop flows from Lake O we would still get flows from the Caloosahatchee Basin. A flow way south is part of the solution. I think call the flow way south is an incorrect statement. It really should be described as a storage treatment and conveyance system,” he said. “That would be part of the solution, but not the complete solution,”

“Ruane said their job is to be advocates and educate people.

“A revised draft of the “white paper” will be on the agent for consideration in June.”

Sanibel & Captiva Islands Multiple Listing Service Activity May 6-13, 2016

Sanibel

CONDOS

ExpandedAerialFromGangl3 new listings: Loggerhead Cay #264 2/2 $598.3K (our listing), Mariner Pointe #943 2/2.5 $649K, Loggerhead Cay #174 2/2 $869K.

3 price changes: Seashells #14 2/2 now $379K, Loggerhead Cay #331 2/2 now $499K, Tanglewood #1A 3/2 now $1.179M.

3 new sales: Sundial West #H110 1/1 listed at $299K, Coquina Beach #5F 2/2 listed at $495K, Heron at The Sanctuary II #2B 3/3.5 listed at $665K.

6 closed sales: Kimball Lodge #244 1/1.5 $330K, Sand Pointe #213 2/2 $570K, Pointe Santo #C41 2/2 $795K, Tanglewood #3 3/3 $1.25M, Gulfside Place #117 2/2 $1.25M, Gulfside Place #306 3/2 $1.3575M.

HOMES

3 new listings: 242 Christofer Ct 3/2 $745K, 421 Lake Murex Cir 3/2 $829K, 984 Oyster Ct 3/3 $2.1M.

7 price changes: 956 Dixie Beach Blvd 2/1 now $399K, 5105 Sanibel-Captiva Rd 4/3 now $679K, 3941 Coquina Dr 3/2 now $699K, 1429 Jamaica Dr 3/3 now $789K, 660 Oliva St 3/3 now $938.5K, 2311 Starfish Ln 4/3 now $1.249M, 1306 Seaspray Ln 3/4 now $3.945M.

5 new sales: 848 Rabbit Rd 3/2 listed at $379.9K; 2150 Egret Cir 3/2 listed at $489K; 3927 Coquina Dr 3/2 listed at $599,995; 830 Limpet Dr 4/4.5 listed at $1.545M, 1245 Isabel Dr 3/3.5 listed at $1.548M.

6 closed sales: 1631 Sand Castle Rd 3/2.5 half-duplex $435K, 1139 Buttonwood Ln 2/1 $595K, 600 East Rocks Dr 3/2 $655K, 1258 Par View Dr 3/2 $700K, 1111 Schooner Pl 3/3 $885K, 6011 Clam Bayou Ln 3/3 $1.2M.

LOTS

1 new listing: 2133 Starfish Ln $439K.

No price changes.

1 new sale: 6217 Starling Way listed at $1.295M.

No closed sales.

Captiva

CONDOS

No new listings.

1 new sale: with Bayside Villas #5106 1/2 listed at $289K.

No closed sales.

HOMES & LOTS

Nothing to report.

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

Until next Friday, here’s hoping the wonderful weather continues…Susan Andrews, aka SanibelSusan

Beach (Medium)

Just Another Happy Friday on Sanibel Island

Posted on by
Reply

It’s another Friday and time for another report from SanibelSusan. Island visitors this week should be happy. The weather has been terrific – temperatures in the low 70’s with bright blue skies and sun shiny days. The outlook for the beaches and waterways has improved too.

white-pelicans from trip advisor

Several of our listings again had showings this week. We had another nice closing – lot in The Dunes. Our condo listing at Compass Point went under contract too. Before the activity posted in the Sanibel and Captiva Multiple Listings Service, here are a couple of news items – most highlighting water initiatives.

Sanibel/Captiva Association of Realtors Monthly Membership Meeting

Sanibel realtors logoThe islands’ Association of Realtors® had their monthly membership meeting yesterday with updates by two affiliate members. Birgie Miller, Executive Director of the “Ding” Darling Wildlife Society, who sponsored the breakfast and Dave Owens, from Midland IRA and 1031, who spoke on tax-deferred exchanges.

Ding Darling Society logo“Ding” Darling Wildlife Society – Birgie’s pitch included reminders that the J.N. “Ding” Darling National Wildlife Refuge now covers 7,608 acres with 35 species of mammals, 102 species of fish, 272 bird species, 60 species of reptiles and amphibians, 14 threatened and endangered species, and more than 750,000 visitors each year. “Ding” Darling Wildlife Society has four Realtor® board members and encourages everyone who enjoys the islands to join at www.dingdarllingsociety.org.

1031 Exchanges – During Dave Owen’s update, he reminded us that he first talked to island Realtors about tax-deferred exchanges in the late 90’s, they were fairly new to the island. Back then it was common for property owners here to exchange out of an investment rental condo into another one of higher value. Today, he said the most common scenario has changed. The states with the most tax-deferred exchanges are California, followed by Texas, then Florida. He said that today, more investors are coming out of investment properties in a highly taxed northern state and buying in Florida to defer capital gains and other taxes.MidIRALogoREV

In summary, a deeded property that qualifies for a 1031 exchange is one that is used for business, investment, property rented out or used in business, or land, if it was held for speculation. Property that does not qualify are primary residences, second homes with little or no rental history, or property not intended for business or investment use. Dave reported that since he first spoke to our group, he has performed some 10,000 exchanges. Good info on his web site at www.1031company.com.

Sanibel City Council Backs Mayors’ Water Quality Initiatives

Sanibelcityseal logoLocal papers report that on Tuesday, Sanibel City Council officially agreed with the initiative by Lee County’s mayors to combat short- and long-term water issues. Council unanimously voted to approve four points involving control of water prepared by the mayors of all Lee County’s cities at a recent emergency meeting in Bonita Springs. The approval came at the request of Sanibel Mayor Kevin Ruane, who chaired the meeting.

The request from the mayors to the South Florida Water Management District, the U.S. Army Corps of Engineers and other involved parties to, in times of emergency, release water south from Lake Okeechobee into the Everglades, identify public and private land suitable for storage and use it, and to provide transparency when drastic water release decisions have to be made.

“The mayors came up with the bullet points and continue to challenge the Corps of Engineers to use its operational flexibility,” Ruane told the council.

During the meeting, Holly Milbrandt, Acting Director of the Sanibel Department of Resources, framed the problem. “It was the wettest January on record with rainfall 400% above normal,” she said. “This is unprecedented for all of us and we are still evaluating. We are not out of the woods yet,” she said. “Weather forecasts are for far above normal rainfall. Water goes into the lake six times faster than it is released, so that is a challenge.”

She reported on Monday the Lake Okeechobee level was at 16.24’, compared to 16.33’ a week ago. She noted that the lake level “is finally falling for the first time in a long time.” She said the lake is 1.45’ higher than it was at this time last year and two feet higher than two years ago. Its level is in the range where the Corps of Engineers can release water.

Ruane and Milbrandt both highlighted that the fresh water pouring into the local estuary from the mouth of the Caloosahatchee River has not all come from the lake. During the heavy rains in January, most of the water was runoff from the local watershed. Now 89% of the water is coming from Lake O.

Ruane pointed out the importance of the C-43 Reservoir, which will hold local runoff but will not be ready until 2020. He also said C-43 covers only part of the storage acreage that is necessary in times of heavy rainfall and runoff.

The mayors’ document addressed both short- and long-term options. Under the heading: “What are the options for relief now?” the document asks to:

  • Initiate discharges from Lake Okeechobee to the 700,000 acres of agricultural lands south of the lake and to all other public and private lands in the C&FS system.
  • Identify and utilize emergency storage on all public lands within the Kissimmee, Lake Okeechobee, St. Lucie and Caloosahatchee basins.
  • Maximize storage within the Kissimmee Chain of Lakes and provide adaptive flexibility for water level management in the regulation schedules to allow more water storage.
  • Seek emergency temporary deviations from federal and state water quality criteria and restrictions that limit discharges south into Everglades National Park during extreme wet conditions and events.

Long-term solutions included land acquisition for and construction of the EAA Reservoir to help move water south of the lake and projects to create storage within the Caloosahatchee watershed, including C-43.

Council members noted the lead by Sanibel in getting action and creating awareness during the recent crisis. The council also pointed out how important it is for Sanibel to continue to be a leader when it comes to environmental practices. In conjunction with that, Council passed a second motion to provide a list of its management practices regarding nutrients and fertilizers and make it available to other municipalities.

Mayors Off to Washington

Capitol Bldg DCAs reported in “The Santiva Chronicle”:

“Next week, Sanibel Mayor Kevin Ruane is off to Washington as part of a delegation that will bend Capitol Hill’s ear on water in Florida. Ruane believes that the mood is different in Florida now after the state was drowned with 16” of rain in January – the dry season. The drenching got everyone’s attention and it pointed out the frailties and inadequacies of the water management practices in the Everglades-Lake Okeechobee system.

““It’s not like 2013. It’s all hands on deck now,” Ruane said Tuesday afternoon, hours after the Sanibel City Council had given its unanimous approval to a brief prepared by Lee County’s mayors.

“Ruane is part of delegation that will include Cape Coral Mayor Marni Sawicki and Fort Myers Mayor Randy Henderson. It will also include elected officials from other areas, including the East Coast.

“The delegation will arrive in Washington Sunday and hit the pavement on Monday. Lawmakers are on the list, particularly the Florida delegation and those who hold key committee positions. Ruane has been effusive in his praise of Rep. Curt Clawson, R-Bonita Springs. Clawson is working closely with Ruane and others to get movement on several fronts. The delegation will also be in contact with Florida’s senators, Marco Rubio and Bill Nelson. Committee chairpersons for water resources and the environment are on the list and, of course, appropriations.

“But Ruane says the first visit needs to be paid to the U.S. Army Corps of Engineers. The Corps, Ruane said, is often painted as the enemy because it’s the Corps that turns the tap and starts the pumps at Lake Okeechobee, often to the detriment of places like Lee County. But the Corps, just like the rest of the Army, follows orders and operates within the framework of the resources it has been given.

““The first talk will be with the Corps of Engineers,” Ruane told the Chronicle Tuesday. “We won’t go there to argue or point fingers. We want to talk about how we can help one another. The Corps needs funding to complete major projects. A united front can help them get that funding.”

“This visit to Washington won’t involve appearing before any committees or subcommittees, but Ruane said that will be done if it is helpful and the opportunity arises…. “It’s all about working together, getting others to recognize each other’s problems and then finding solutions. The mayors, City Council, our lawmakers in the state and in Washington, and many others are pulling together this time. That’s what it’s going to take,” Ruane said.”

More Canadians Choosing to Sell U.S. Homes

Canada maple leafAs posted in “Realty Biz News” on Monday, this is the trend on the islands too.

“With the Canadian dollar currently around $.72 to the US dollar, an increasing number of snowbirds are choosing to sell their properties in the United States.

“Previously a large number of Canadians bought US property when prices were cheap and are now choosing to sell them to take advantage of higher real estate prices and a favorable exchange rate. Even when additional costs such as capital gains tax are taken into account, many Canadians feel it is too good an opportunity to miss. Quite a few chose to buy their property back in 2010 when the US and Canadian dollar were almost at par and when real estate prices had yet to recover. Thanks to low exchange rates and rising prices, this means that many are able to sell for a big profit. According to the article in CBC.ca, real estate agents in Arizona, an area very popular with snowbirds, are seeing an increase in the number of Canadian homeowners wishing to sell their property.

“Figures from the American National Association of Realtors® survey, for the year ending March 2007, show that Canadian buyers accounted for 11% of property sales to foreign buyers. As the strength of the Canadian dollar increased, so did the percentage of real estate deals to Canadian buyers. By March 2011 to March 2012, the percentage of sales to Canadians had more than doubled, increasing to 24% and accounting for approximately US$15.9 billion. Since then house prices have increased by between 30% and 50% and when the weak Canadian dollar is factored in to the equation, then sellers are able to make a large profit, even when tax is taken into account.

“In Florida, real estate agents are also seeing an increasing number of Canadians who wish to sell, compared to 2009 to 2013 when most wanted to buy. There is also another good reason as why selling is a popular option for those north of the border, as a declining Canadian dollar increases the costs of running a home in the US, and utility bills and property taxes have all become considerably more expensive.

“Real estate agents are confident this selling trend will continue for as long as the Canadian dollar remains weak. Some of those choosing to sell their homes will still escape harsh Canadian winters, but intend to rent in the future rather than buy.”

Low Rates Spark Big Rush to Refinance

As posted on Realtor®Mag on-line on Wednesday:

Mortgage Bankers Assoc logo“Applications to refinance mortgages surged to their highest level in more than a year as home owners rushed to take advantage of low rates. Thirty-year fixed-rate mortgages averaged 3.83% last week, the lowest level since April 2015, MBA (Mortgage Bankers Association) reports.

“The refinance boost fueled an 8.2% jump last week in total mortgage applications, according to the Mortgage Bankers Association. Refinance applications jumped 16% during the week ending Feb 12. Mortgage applications for home purchases, on the other hand, dropped 4% during this same time. The volume for all refinances is now 50% higher than just four weeks ago.

“”Treasury rates fell again last week, and mortgage rates fell to their lowest level in over a year, with rates on jumbo loans dropping to their lowest level since December 2012,'” says Michael Fratantoni, MBA’s chief economist. “As we have noted in recent weeks, borrowers with larger loans tend to be more sensitive to a drop in rates, because they stand to benefit more from refinancing.”

“Mortgage lenders reported a new record for the average loan size for refinances last week at $316,000, according to MBA.

“While mortgage applications for home purchases fell last week, the gauge of future home-buying activity still remains strong for the year. Mortgage applications for home purchases remains 30% higher than the same week one year ago, MBA reports.” Source: “Refinancing Pushes Mortgage Applications 8.2% Higher,” CNBC (Feb. 17, 2016)

Sanibel New Resident Reception

SanibelCityHallNew residents are invited to a reception on Wed, March 2 at 9 a.m. in Mackenzie Hall at Sanibel City Hall. Mayor Kevin Ruane and City Council Members will be there to welcome new residents and answer questions.

Sanibel Hurricane Reentry Passes Available Now

The City is issuing 2016 series hurricane passes. All residents, property owners and businesses need to apply for a new 2016 series pass. (Our old ones were dated 2012.) The new residential passes are purple and the commercial are tan. These will be the only ones that will aid in re-entry to the island following a storm. Passes are issued at the Police Dept Monday through Friday 8 a.m. to 4 p.m. More info and application forms on www.MySanibel.com.

Sanibel & Captiva Multiple Listing Service Activity February 12-19, 2016

Sanibel
CONDOS
5 new listings: Coquina Beach #5B 2/2 $399K; Sanibel Siesta #402 2/2 $569K, Bayview Village #2A 3/3 $699K; Sand Pointe #217 2/2 $745,555; Yacht Haven #2 3/2 3/2 $949K.
1 price change: Gulfside Place #115 2/2 now $1.795M.
6 new sales: Sundial West #H407 1/1 listed at $465K, Seawind #A101 2/2.5 listed at $514.9K, Compass Point #221 2/2 listed at $599.9K (our listing), Sundial West #A305 2/2 listed at $799K, Island Beach Club 2/2 listed at $1.1M, Sedgemoor #102 3/3.5 listed at $2.495M.
1 closed sale: Tennisplace #D31 1/1 $230K.
HOMES
9 new listings: 535 Birdsong Pl 3/2 $549K, 577 Lake Murex Cir 3/2 $769K, 1807 Buckthorn Ln 3/2.5 $799K, 979 Oyster Ct 2/2 $940K, 935 Lindgren Blvd 3/2 $969K, 1174 Harbor Cottage Ct 3/2 $1.129M, 1665 Sabal Palm Dr 3/2 $1.295M, 1270 Bay Dr 3/2 $1.35M, 1069 Bird Ln 4/3.5 $4.995M.
7 price changes: 480 Peachtree Rd 3/3 now $699K, 557 N Yachtsman Dr 4/3 now $749K, 1125 Captains Walk St 3/3 now $749.9K, 689 East Rocks Dr 3/3 now $759K, 1245 Isabel Dr 3/3.5 now $1.548M, 2405 Blue Crab Ct 4/4.5 now $2.995M, 1196 Bay Dr 4/4.5 now $2.995M.
8 new sales: 1653 Bunting Ln 3/2.5 listed at $459K, 1565 Bunting Ln 3/2 listed at $599K, 9106 Mockingbird Dr 3/2 listed at $630K, 1130 Junonia St 3/2 listed at $679K, 1259 Sand Castle Rd 3/3 listed at $869K, 437 Lake Murex Cir 4/3 listed at $895.9K, 280 Ferry Landing Dr 3/2 listed at $899.9K, 5773 Sanibel-Captiva Rd 2/2 listed at $1.029M.
2 closed sales: 9477 Peaceful Dr 4/2 $450K, 2540 Coconut Dr 4/3.5 $955K.
LOTS
1 new listing: 6419 Pine Ave $1.699M.
2 price changes: Lot 27, Leisure Acres now $99.9K, 1311 Par View Dr now $299.9K.
1 new sale: 1304 Eagel Run Dr listed at $219K.
1 closed sale: 1466 Sand Castle Rd $239K (our listing).
Captiva 
CONDOS
No new listings.
1 price change: Beach Villas #2525 2/2 now $615K.
No new or closed sales.
HOMES
No new listings or price changes.
1 new sale: 11521 Laika Ln 3/3 listed at $1.445M.
No closed sales.
LOTS
Nothing to report.

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

February days in the mid-70’s are the best!

Beach santa

Susan Andrews, aka SanibelSusan

The Sky is Blue & Real Estate is Selling on Sanibel & Captiva Islands

Posted on by
Reply

It is another sunny Friday on Sanibel – what we call, “another picture-perfect day”. It reminds me of yesterday when I complimented an island pal on her Sanibel photos and she said “use them anytime”. So, before the rest of Friday’s blog, here are a few feathered friend pictures – thanks to Ellie Hayward. She took the alligator pix too!

 

Sanibel & Captiva Islands Association of Realtors®

SanCapAssnLogoMore winter sales were announced at our local Association of Realtors® Caravan Meeting yesterday and calls for showings are picking up too.

Below are a couple of news items followed by the Sanibel & Captiva Islands Multiple Listing Service action over the last seven days. “Season” is shaping up to be a good one. The statistics below indicate the few sales already in process. During the next three months, the number of sales should jump.

CONDOS                      HOMES                         LOTS

                      #  / Avg $ / Avg DOM    # / Avg $ / Avg DOM     # / Avg $ / Avg DOM

SANIBEL

Available        117 / 751,571 / 403       155 / 1,258,601 / 243    79 / 499,905 / 722

Pending         27 / 755,406 / 373          43 / 1,086,499 / 320     6 / 496,250 / 663

Sold/closed in:

2015 to 1/30  8 / 491,094 / 398           10 / 784,468 / 365         1 / 352,000 / 192

2014              164 / 650,418 / 286        206 / 838,672 / 265       27 / 424,198 / 495

CAPTIVA

Available       43 / 885,909 / 372          50 / 3,503,921 / 318      6 / 2,280,000 / 330

Pending        4 / 1,113,500 / 118         4 / 7,337,250 / 442        1 / 1,390,000 / 116

Sold/closed in:

2015 to 1/30  0 / N/A / N/A                  0 / N/A / N/A                  0 / N/A / N/A

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

Island Happenings

SANSLogoSanibelSusan.com continues to bring us listing inquiries and this week one came from a follower of the “Upcoming Events” also posted on our web site. Tracking island happenings keeps us current. Here are a couple of new items recently noticed.

  • SCCF logoWater Quality Exhibit at SCCF Nature Center – Water quality is a subject key to our real estate business and an item often discussed at our state Association of Realtors® Land Use Committee meetings. A new 5-panel exhibit at SSCF’s Nature Center is the first on the island about water quality. Educational and fun for all ages, the centerpiece of this SCCF exhibit includes a touchscreen with an in-depth RECON overview. RECON is the River Estuary Coastal Observing Network which was launched in 2007. RECON sensors along the Caloosahatchee River, Pine Island Sound, Tarpon Bay, and San Carlos Bay gather data which aids in research and management of the water in these areas. The Nature Center at SCCF is open weekdays from 8:30 a.m. to 4 p.m.
  • Sanibelcityseal logoMayor’s Report to CASI – Last Friday, Sanibel Mayor Ruane updated CASI (Condominium Associations of Sanibel, Inc.) on the progress City Council has made this year in its goals of improving water quality, stabilizing city finances, and encouraging sensitive redevelopment. A few statistics he mentioned include that 27% of Lee County’s tax revenues come from Sanibel. Of each Sanibel property owner’s tax bill, 15 cents is retained by Sanibel, while 85 cents goes to the county. With some carefully selected projects like the Sanibel Civic Core which is being planned for the city hall/library area and expected to include BIG ARTS, the Senior Center, and the Sanibel Community Association, City-owned property may be eligible for bringing some of those tax dollars back to the island.
  • CROW logoCROW’s New Speaker Series – Beginning in February and running through March, CROW is offering more interactive and educational programs. As they are announced, dates will be posted on SanibelSusan.com “Upcoming Events”. More info at www.crowclinic.org.

Existing-Home Sales Rebound: 5 Stats to Know

for sale signBelow is a summary article from “Daily Real Estate News” last Friday. It’s a good synopsis of the real estate market nation-wide.

“Home sales picked up at the end of 2014, closing off a year that had a sluggish start but then showed encouraging signs in the second half, according to the National Association of REALTORS®’ latest housing report, released Friday.

“Existing-home sales rose 2.4% in December month-over-month, bouncing back after a dismal November. Total home sales –reflecting completed transactions of single-family homes, townhomes, condos, and co-ops – reached a seasonally adjusted annual rate of 5.04 million in December. “Home sales improved over the summer once inventory increased, prices moderated, and economic growth accelerated,” says Lawrence Yun, NAR’s chief economist. “Sales were measurably better in the second half – up 8% compared to the first six months of the year.”

“Overall for 2014, the median national existing-home price was $208,500, reaching the highest level since 2007, and a 5.8% increase from 2013 when it was $197,100. However, total existing-home sales were 3.1% lower in 2014 compared to 2013, NAR reports. Here’s a closer look at five housing stats from NAR’s latest report — reflecting December 2014 data — to gauge the market:

“1. Home sales: Single-family home sales rose 3.5% in December to a seasonally adjusted annual rate of 4.47 million compared to 4.32 million in November. Single-family home sales are 4% above the pace a year ago. Existing condo and co-op sales, on the other hand, dropped 5% in December.

“2. Home prices: The median existing-home price for all housing types in December was $209,500 – 6% higher than year ago levels. This marks the 34th consecutive month of year-over-year price gains.

“3. Days on the market: Properties typically stayed on the market in December for 66 days, a slightly shorter time frame than a year ago when the average was 72 days. Short sales were on the market the longest amount of time at a median of 98 days in December, while foreclosures sold in 61 days. Non-distressed homes averaged 66 days on the market. About 31% of homes that were sold in December were on the market for less than a month, according to NAR.

“4. Distressed sales: Foreclosures and short sales edged up slightly in December, reaching 11% of sales compared to 9% in November. However, distressed sales are down from 14% a year ago. Of December existing-home sales, 8% were foreclosures and 3% were short sales. On average, foreclosures sold for a discount of 15% below market value while short sales were discounted 12%.

“5. Inventory: Total housing inventory at the end of December fell 11.1% to 1.85 million existing homes available for sale. That represents a 4.4-month supply at the current sales pace, which is down from 5.1 months in November. Unsold inventory is now 0.5% lower than a year ago.

““A drop in housing supply in December raises some affordability concerns in the months ahead as minimal selection and the potential for faster price appreciation could offset the demand from buyers encouraged by a stronger economy and sub-4 percent interest rates,” says Yun. “Housing costs – both rents and home prices – continue to outpace wages and are burdensome for potential buyers trying to save for a down-payment while looking for available homes in their price range.”

“By Region: The following is a look at how existing-home sales performed across the country in December:

  • Northeast: existing-home sales fell 2.9% to an annual rate of 660,000. Sales are 3.1% above year ago levels. Median price: $246,600, up 3.2% above a year ago.
  • Midwest: existing-home sales dropped 3.5% to an annual level of 1.09 million in December. Sales are 2.7% below December 2013. Median price: $159,100, up 5.3% from a year ago.
  • South: existing-home sales in the South climbed 3.8% to an annual rate of 2.17 million in December. Sales are 7.4% above December 2013. Median price: $184,100, up 6.6% from a year ago.
  • West: existing-home sales surged 9.8% to an annual rate of 1.12 million in December. Sales are 2.8% above a year ago. Median price: $299,600, up 5.6% year-over-year.”

Housing Demand Rises, Supply Is Bigger Issue

realtor logoAs the market rebounds another concern was highlighted by Realtor.com in another recent article. We are already seeing signs of not enough inventory on Sanibel and Captiva too. We all know that shrinking inventory often results in rising prices.

“Several signs in the housing market point to higher demand for real estate, but the big question remains whether the supply will be able to meet the rise in demand, writes Jonathan Smoke, chief economist at realtor.com®, in new commentary at realtor.com®. “Supply is quickly becoming the biggest concern for healthy growth in home sales in 2015,” Smoke notes.

“Smoke points to the following three positive signs showing higher demand in the housing market:

Builders are more confident: Builders are remaining upbeat about the new-home market. The National Association of Home Builder’s Housing Market Index recently showed builder sentiment on the rise, with builders optimistic about the six-month outlook in the new-home market. New construction is starting to follow suit. Housing starts rose 4.4% in December, with that rise driven by an uptick in single-family construction. Single-family starts are at the highest number in six years, reaching a pace of 728,000 units in December. “That is a good early sign that homebuilders are gearing production for greater demand in the spring,” Smoke notes.

Low mortgage rates: Mortgage rates continue to hit new yearly lows, bringing borrowing costs down for home buyers and refinancers. As such, mortgage application activity rose to its highest level since June 2013 recently. The 30-year fixed-rate mortgage averaged 3.63% last week, its lowest weekly average since May 2013, according to Freddie Mac. But economists are warning that the low rates won’t likely stick around much longer and could move up to 5% by the end of the year.

Existing-home sales rebounding: Demand has been growing in the existing-home sales market too. The annual pace of existing-home sales was 5.04 million in December, 3.5% higher than last year, according to the National Association of REALTORS® latest report.

“Housing supply remains the biggest issue, Smoke says. The inventory of existing-homes is at a 4.4-month supply at the current sales pace – well-below the 6-month supply that most economists consider healthy, according to NAR’s December report. “We need more markets to see listing growth over the next several weeks to keep appreciation at healthy, normal levels,” Smoke says.  “With three years of positive price appreciation behind them, existing-home owners in most areas should see conditions as very favorable for trading up. That is what the market needs to set the stage for significant growth this spring.””

Why I Bought Realtor.com®

Realtor_comlogoAs a Realtor® who has had successful results from Realtor.com, but many frustrations from inquiries from viewers looking at other third party real estate search sites, I have patiently been waiting for more news about Rupert Murdoch’s recent purchase. Here is the article posted on “Daily Real Estate News” yesterday. Love the last sentence!

“News Corp founder and executive chairman Rupert Murdoch took the stage at Real Estate Connect in New York on Thursday to explain why Move Inc., the operator of realtor.com®, was a better acquisition than its chief rivals in the online real estate space. Murdoch said Move and realtor.com® have a trifecta of powerful marketing points over Zillow and Trulia. “Move has the most up-to-date and accurate listings in the market,” Murdoch said, noting that realtor.com®’s listings are updated every 15 minutes.

““Move has a close relationship with the National Association of REALTORS®, and I believe real estate agents are crucial to every home sale in America,” he said. “Realtor.com® attracts transaction-ready consumers — they’re not just window shoppers — and that’s attractive to advertisers,” Murdoch said.

“Most people who begin their real estate search online eventually need human interaction and guidance, Murdoch said, and realtor.com® facilitates those connections. “There is no digital replacement for the human touch,” he said. “No technology can meet all of someone’s needs. It takes a real person. Realtor.com® helps bring home buyers, sellers, and agents together. We want the shortest distance between the American Dream and a family’s reality to be realtor.com®.”

“Murdoch reassured critics that News Corp’s goal is not to turn Move into a media company and take realtor.com® away from its mission of connecting agents with consumers. Instead, he said, he wants to enhance the realtor.com® user experience to help it better fulfill its mission. “We’re going to add to the user interface, make it more obviously friendly for agents and consumers,” Murdoch said. “We’ve got to make a better product, and then when we’re satisfied, we need to get out and market it hard. We understand that there’s a different business model in America,” continued the Australian-born media magnate, who owns media properties all over the world. “We don’t want to replace agents — we think they’re absolutely central.”

“Murdoch also predicted that the U.S. housing market would continue to expand and recover — another reason he was interested in buying a real estate company. He said the data he’s been seeing from Move thus far is encouraging, and the U.S. market offers the best bet for long-term growth in the world.

“Murdoch ended on a note that easily became the most talk-about moment of his appearance at Real Estate Connect. He said he believed in the ability of the realtor.com® name to attract consumers away from the site’s rivals because “we all know what ‘REALTOR®’ means.” And then he quipped: “What the hell does ‘Zillow’ mean?””

Sanibel & Captiva Multiple Listing Service Activity January 23-30 

Sanibel

CONDOS

2 new listings: Sanibel Arms West #L5 2/2 $524.9K, Sanibel Sunset #202 3/2 $1.795M.

3 price changes: Captains Walk #C7 1/1 now $244K, Sanibel Arms West #J4 2/2 now $459K, Sanddollar #A104 2/2 now $819K.

4 new sales: Sundial #F406 1/1 listed for $359.9K, Sanibel Arms West #L5 2/2 listed for $524.9K, Loggerhead Cay #191 2/2 listed for $660K, West Shore #6 3/3 listed for $1.795M.

1 closed sale: Pointe Santo #A2 2/2 $782.25K.

HOMES

8 new listings: 4109 SanCap Rd 2/1 $324K, 4619 Brainard Bayou Rd 3/2 $599.9K, 1085 Sand Castle Rd 3/2 $669K, 1182 Kittiwake Cir 3/3 $739K, 923 S Yachtsman Dr 3/2 $889K, 1331 Sand Castle Rd 3/2.5 $985K, 5418 Osprey Ct 4/3.5 $1.195M, 4525 Waters Edge Ln 3/3.5 $4.495M.

8 price changes: 2621 SanCap Rd 3/2 now $279K; 1602 Serenity Ln 3/2 now $499K; 9032 Mockingbird Ln 3/2 now $619,995; 741 Nerita St 3/2 now $679K; 3131 Twin Lakes Ln 3/2 now $704,999; 1224 Par View Dr 3/3 now $1.099M; 518 N Yachtsman Dr 3/3 now $1.179M; 2255 Troon Ct 4/5.5 now $1.55M.

6 new sales: 320 Palm Lake Dr 2/2 listed for $424K, 590 Lake Murex Cir 2/1.5 listed for $635K, 5753 Pine Tree Dr 3/4 listed for $749K, 1337 Eagle Run Dr 3/2.5 listed for $1.149M, 6440 Pine Ave 3/3 listed for $1.295M (our sale), 536 Lighthouse Way 4/4.5 listed for $3.395M.

1 closed sale: 960 S Yachtsman Dr 3/3 $1.299M.

LOTS

No new listings.

1 price change: 1311 Par View Dr now $269.9K.

No new or closed sales.

Captiva

CONDOS

2 new listings: Tennis Villas #3115 1/1 $294.9K, Beach Villas #2614 2/2 $620K.

2 price changes: Bayside Villas #4114 1/2 now $269.9K, Bayside Villas #5316 3/3 now $619K.

No new or closed sales.

HOMES

1 new listing: 928 S Seas Plantation Rd 5/5.5 $4.175M.

1 price change: 17130 Captiva Dr 4/4 now $4.499M.

2 new sales: 43 Oster Ct 2/2.5 listed for $784.9K; 16585 Captiva Dr 5/4/2 listed for $2,799,585.

No closed sales.

LOTS

No new listings or price changes.

1 new sale: 16915 Captiva Dr listed for $1.39M.

No closed sales.

This representation is based, in whole, or in part, on data supplied by the Sanibel & Captiva Islands Association of Realtors® or its Multiple Listing Service. Neither the association nor its MLS guarantees or is in any way responsible for its accuracy.

Until next Friday – best weekend wishes to all – from Susan Andrews, aka SanibelSusan