Columbus Day Weekend 2015 on Sanibel & Captiva Islands

Posted on October 9, 2015 by SanibelSusan

As another week comes to a close, SanibelSusan reports that although many new listings are coming on the market for “season”, there was not much sales action again this week.

Here is a quick summary of the Sanibel and Captiva real estate sales since the first of the year compared to last year and the year before. Also included is inventory today. Note these prices are averages.

SANIBEL CONDOS # Average Price HOMES # Average Price LOTS # Average Price

For sale 84 $763,929 101 $1,365,647 65 $462,128

Sold/closed Jan 1 to Oct 9:

2015 133 $674,347 205 $876,028 36 $392,344

2014 132 $672,330 174 $821,266 20 $452,903

2013 138 $563,493 175 $922,938 18 $450,364

CAPTIVA CONDOS # Average Price HOMES # Average Price LOTS # Average Price

For sale 37 $743,454 36 $3,798,014 4 $2,234,750

Sold/closed Jan 1 to Oct 9:

2015 30 $1,112,050 19 $3,269,079 2 $2,847,500

2014 17 $660,471 23 $2,826,717 0 N/A

2013 27 $665,630 15 $2,642,267 1 $650,000

(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.)

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

Island Weather, Happenings & Upcoming Events

Between some occasional showers, the opening of Sanibel’s Farmers’ Market last Sunday morning was a great success. Lots of locals were in attendance with a terrific variety of goods available for those looking for fresh fruits, vegetables, seafood, prepared food, and much more. Big thank you to the market organizers, Jean Baer and Betsy Ventura.

This year they have some new recyclable shopping bags too, I bought a few to hold some future closing gifts!

Sanibel Farmers’ Market is open every Sunday from 8 a.m. to 1 p.m. through April. See you there!

Since last weekend, island weather has been pretty nice. Temperatures are in the low to mid 80’s, the humidity is down, and sunshine is expected every day for at least the next week.

Tonight through Sunday – BIG ARTS Herb Strauss Theater – With a cast of 35 children, the debut of “Flat Stanley”, the 1^st children’s theater show from Creative Theater Workshop is being performed at Strauss Theater.

October 20 – Sanibel Historical Museum and Village reopens with new expanded hours. Opening two weeks earlier than last year and adding an additional day to their schedule, the Museum will be open Tuesdays through Saturdays from 10 a.m. to 4 p.m. with guided tours from 10:30 a.m. to 1:30 p.m.

November 8 – 34^th Annual Taste of the Islands – from 12 to 5 p.m. at Sanibel Community Park across the street from SanibelSusan Realty. This is CROW’s largest fundraiser of the year. Volunteers are needed, forms available at www.crowclinic.org

Through 2017, Market Should Stay Strong

More positive indicators in Tuesday’s “DAILY REAL ESTATE NEWS”:

“You can expect at least three more years of favorable real estate conditions, with the overall housing market projected to continue expanding at steady levels from this year through 2017, according to a new survey from the Urban Land Institute Center for Capital Markets and Real Estate, based on 49 of the real estate industry’s top economists and analysts.

“Still, compared to previous forecasts, the latest ULI forecast is less bullish on its outlook. Overall, real estate indicators are expected to be better than their 20-year averages this year, except among the following indicators that are forecasted to perform worse: commercial property price growth, equity REIT returns, retail availability rates, and single-family housing starts.

““The latest Consensus Forecast has picked up on recent growth concerns and stock market corrections around the world,” says William Maher, ULI leader. “The U.S. economy and real estate markets are in much better shape than most other countries, but global economies and capital markets are increasingly inter-related. Still, the vast majority of indicators in the forecast indicate favorable economic and capital markets in the U.S., as well as moderately strong real estate fundamentals and investment returns.”

“Additional highlights from ULI’s Consensus Forecast:

Commercial property transaction volume is predicted to rise for another two years and then level off to $500 billion by 2017.
Commercial real estate prices are forecasted to rise by 10% in 2015 and then slow to a 6% increase in 2016 and to 4.5% in 2017 – below the long-term average
Vacancy rates are projected to decrease slightly for office and retail over the next three years. On the other hand, industrial availability rates and hotel occupancy rates are projected to improve in 2015 and then basically plateau in 2016 and 2017.
Single-family housing starts are projected to increase to 745,000 in 2015; 842,000 in 2016; and 900,000 in 2017. Despite the increases, starts are expected to remain below the 20-year average.
Home prices are expected to moderate to 5% this year; 4.3% growth in 2016; and 3.9% in 2017.”

What Zillow Doesn’t Want You To Know

Posted on BuildZoom.com on Monday, this was written by their Chief Economist, Issi Romem:

“Almost every home buyer begins searching for his or her dream home online. Today, that largely means looking for listings on Zillow Group portals, Zillow and Trulia, or on Realtor.com.

“But which one is the best place to begin that search?

“Depending on where you happen to reside — and especially if you intend to relocate — the portal you choose to search may be more important than you realize.

“The crucial point for homebuyers, realtors and investors to take away is that the number of listings being provided still varies widely from city to city.

“According to comScore, Zillow and Trulia combined attract far more web traffic than Realtor.com. However, since News Corp. acquired Realtor.com the number of unique visitors to that site has steadily grown, and notably has now surpassed Trulia to become the second most popular portal.

“But Realtor.com has a different advantage. Before its recent acquisition by News Corp., Realtor.com operator Move, Inc. had a 10-year head start, backed by the National Association of Realtors (NAR). This advantage has translated into the Realtor.com site having more timely, accurate and comprehensive nationwide listings. This is a result of receiving and updating data from almost all of the 800+ multiple listing services (MLSs) in the U.S. every 15 minutes.

“The discrepancy between the number and quality of listings available on the Zillow Group portals and on Realtor.com attracted a great deal of attention in April, when ListHub — a key aggregator of MLS data, now controlled by News Corp. — terminated the contract, and stopped providing listing information to Zillow Group.

“In anticipation of the event, Zillow Group scrambled to negotiate its own agreements with individual MLSs to obtain listings which it had previously obtained from ListHub. By mid 2015 Zillow Group had signed agreements with just over 300 MLSs.

“In April, we tracked the overnight change in the number of listings on the different portals after ListHub’s agreement with Zillow Group expired. Although the number of listings on Zillow and Trulia fell markedly overnight, we gave Zillow Group the benefit of the doubt by expressing our belief that it was well poised to obtain many more MLS agreements.

“Nevertheless, we soon faced a string of cease-and-desist letters from Zillow Group’s counsel, ordering us to retract the blog post on the grounds that we collected the information therein in an automated fashion that violated the portals’ terms of service. Fearing the implications of a lawsuit by a large corporation — regardless of the ultimate outcome — we obeyed the order by retracting the blog post.

“Since then, we have recorded the number of listings on Zillow.com and Realtor.com for the core cities of the 51 largest U.S. metro areas. So as not to violate Zillow.com’s terms of service we have done so manually (hence the limited number of cities). On Friday, Zillow Group issued us a new order to cease-and-desist….

“As of September 21, Zillow.com has fewer listings than Realtor.com in 42 out of 51 cities. The discrepancy is often quite substantial: in 30 of the 51 cities, Zillow.com has more than 20% fewer listings, and in 15 of the 51 cities Zillow.com is behind by more than 60%!

“In a handful of cities, notably Los Angeles, New York, Phoenix and Detroit, Zillow.com provides more listings than Realtor.com. While this may indicate the absence of some listings from Realtor.com, it may also reflect data quality issues in Zillow’s database, such as incorrect listing details, or duplicate or expired listings. We encourage readers to compare listings in these cities and form their own opinions. Here is a link to the guidelines for comparing apples-to-apples on the Zillow.com and Realtor.com websites.

“At least superficially, the numbers appear to support Realtor.com’s claim of having superior data, but does Realtor.com’s advantage matter for Zillow Group?

“As long as Zillow Group continues to draw substantially more traffic than Realtor.com, agents and brokers will continue to feel compelled to advertise on its portals. As a result, Zillow Group revenue is less sensitive to its listing coverage than one might think. Yet the danger remains that consumers will eventually recognize the discrepancy and flock to Realtor.com or elsewhere in search of more comprehensive and accurate listings. If this happens, agent and broker dollars will follow.

“Going forward, Zillow Group has the ability to close the listing gap as it continues to sign additional local MLS agreements, but will it succeed? Judging by its limited progress on this front between April and September…it is destined for an uphill battle. The nature of relationships between the MLSs and Zillow Group’s portals are the subject of passionate disagreement, and it appears that Zillow Group is finding it difficult to win over “multiple” hearts and minds.”

FYI – The Sanibel and Captiva Islands Multiple Listing Service does not syndicate its listings through Zillow or any third party site. Through the islands association of Realtors, listings are on-line to members at SanCapMLS.com and to the public on SanibelRealtors.com and Realtor.com.

Since SanibelSusan also belongs to the Southwest Florida Regional MLS (SWFLRealtors.com), our listings are posted twice on Realtor.com. Because the regional MLS also offers syndication. Our listings also are on Zillow, Trulia, and other real estate search sites. Additionally through the regional MLS, our listings are shared with other participating Florida MLS’s, through a cooperative agreement called MLS Advantage.

The 8 Biggest Concerns for Realtors®

Good write-up in the October issue of “Florida Realtor®” which says:

“Realtors® are strongly confident about the housing market’s outlook although confidence has eased since the beginning of this spring, according to a recent Realtors® Confidence Index, a monthly survey…about local market conditions. The Realtors® Confidence Index survey stressed these concerns:

The TILA-RESPA Integrated Disclosure regulations, which took effect October 3, and concerns that they could delay closings.
Tight inventory with a limited number of homes for sale.
Affordability issues: Fewer affordable homes so sellers are also hesitant to move.
Financing issues, such as difficulty in qualifying for a mortgage due to higher FICO credit and down payment standards, a protracted mortgage approval process and condo-financing issues.
Appraisal issues: conservative estimates, out-of-town appraisers, and slow turn-around.
Rising interest rates.
Declining demand from international buyers due to a strong U.S. dollar.
Uncertainty about flood insurance rates and reform.”

Casa Ybel Sets the Bar High for Sanibel Island Resorts

Nice article about Casa Ybel and Thistle Lodge on Monday’s USA Today’s “10Best.com”. (Both of these photos came from that web site.)

I had lunch at Thistle Lodge a couple of weeks ago and the food and view continue to be magnificent. Some don’t know that most of this resort is comprised of timeshare units, but the five westerly buildings of eight units each are privately-owned 1-bedroom condominiums called Cottage Colony West. None are currently available, but there always are buyers for these income-producers. I got a request just yesterday. There have been three sales there this year with prices back into the 6’s. Here’s the recent article from 10Best.com:

“To get the story of one of the most historic beachfront resorts in the Fort Myers area, you’ll have to go back to the late 1800s. That’s when former missionary George Barnes homesteaded nearly 500 acres on Sanibel, building the island’s first church, a cottage that evolved into the first inn and eventually the award-winning Casa Ybel Resort.

“When one of the missionary’s daughters married a resort guest, the two built a Victorian home on the property, naming it Thistle Lodge. Celebrities and dignitaries the likes of Thomas Edison and Henry Ford visited the lodge.

“Recreated in 1979, today it is home to a beloved restaurant for both resort guests and locals. Diners not only love the view of the beach from its big windows, but also the partnership between Thistle Lodge and winemakers at Rutherford Wine Company in Napa Valley, Calif.; they’ve created a private label Cabernet Sauvignon, Chardonnay and Pinot Grigio. The rest of the wine list spans the globe, offering valuable tasting notes and affordable pricing.

One menu item not to miss is the Lobster and Lump Crab “Diver” Scallops. In this signature dish, scallops are topped with lobster and crab, encrusted and baked. The dish is finished with a citrus buerre blanc and served with baby field greens and jasmine rice. The Pecan Seared Salmon is another hit.

“While the menu leans heavily on seafood, the lodge serves succulent steaks, hand carved in house, along with an herb-crusted lamb and a veal tenderloin in a smoked pomodoro romesco.

“Besides at Thistle Lodge, guests can dine around the pool bar at Coconuts. The smell of the grill is hard to resist, as the resort has a popular grilling station every weekend and almost every day during season (winter and spring).

“As for the rest of the resort, managers are constantly upgrading its amenities and accommodations. The one- and two- bedroom suites are spacious and well equipped. Their screened lanais face the water, creating the perfect space for your morning coffee or evening cocktails. New this season are upgraded kitchens in all of the units.

““Some of the same people have been coming here for decades, so we are always trying to enhance their experience,” says Casa Ybel’s General Manager Froilan Ramirez. Casa Ybel has it all; it’s perfect for romance, while still accommodating to families. The Kids Club offers daily themes and activities that range from lizard hunting to arts and crafts. The resort even offers babysitting services to allow parents a date night. If you must do some work during your vacation, the resort Wi-Fi has been shored up enough to reach the beach, for your office under an umbrella.

“Other amenities include tennis and basketball courts, along with clinics to improve your skills. Less strenuous activities include horseshoe and croquet, to name a few.

“However, some of the best things to do are on the beach. Casa Ybel’s striking, white-sand beach is full of shells and beautiful blue water. It’s also host to some of the most amazing sunsets you’ll ever see.

“The grounds here are gorgeously landscaped, providing a calm, inviting atmosphere. Many guests like the fact that Casa Ybel is slightly off the beaten path, yet still a quick bike ride to shopping, nature preserves and other sites. One getaway here, and you’ll understand why visitors return year after year.”

Sanibel & Captiva Multiple Listing Service Activity October 2-9

Sanibel

CONDOS

7 new listings: Captains Walk #B8 2/2 $335K, Sanibel Arms #B1 1/1 $369K, Loggerhead Cay #223 2/2 $559.9K, Compass Point #111 2/2 $1.159M, Sunset South #5A 2/2 $1.224M, Gulfside Place #203 2/2 $1.295M, Sanibel Seaview #1 2/2 $1.349M.

3 price changes: Heron at The Sanctuary #1B 2/2.5 now $625K, Sundial #T302 2/2 now $729K, Seascape #301 3/3 now $1.195M.

1 new sale: Sundial #F201 2/2 listed at $729K.

No closed sales.

HOMES

1 new listing: 1314 Par View Dr 4/3 $995K.

1 price change: 1237 Isabel Dr 5/6.5 now $2.795M.

2 new sales: 1148 Shell Basket Ln 4/2 duplex listed at $699K, 1183 Kittiwake Cir 3/2 listed at $749K.

3 closed sales: 1835 Ardsley Way 2/1 $315K, 1644 Atlanta Plaza Dr 2/2 $462K, 2981 Wulfert Rd 4/4.5 $1.2M.

LOTS

1 new listing: 2501 Wulfert Rd $249K.

No price changes or new sales.

1 closed sale: 2142 Starfish Ln $383.5K

Captiva

CONDOS

1 new listing: Bayside Villas #4302 3/3 $649K.

No price changes, new or closed sales.

HOMES

No new listings.

2 price changes: 11490 Old Lodge Ln 3/3.5 now $1.298M, 16697 Captiva Dr 5/4 now $8.05M.

1 new sale: 15172/174 Wiles Dr 7/5.5 multi-family listed at $7M.

No closed sales.

LOTS

No new listings.

1 price change: 16297 Captiva Dr now $1.595M.

No new or closed sales.

Best wishes for a terrific Columbus Day weekend 2015!

Susan Andrews, aka SanibelSusan

P.S. Lots of new things to do have been added to the list under “Upcoming Island Events” above. Some get sold out early, so be sure to check the list often.

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

Posted on February 20, 2015 by SanibelSusan

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

Happenings at SanibelSusan Realty

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

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

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

Sanibel’s Vegetation Standards Protect Homeowners

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

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

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

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

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

Move Inc. Ready to Take on Zillow-Trulia

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

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

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

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

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

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

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

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

Sanibel & Captiva Multiple Listing Service Activity Feb 13-20

Sanibel

CONDOS

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

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

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

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

HOMES

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

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

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

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

LOTS

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

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

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

No closed sales.

Captiva

CONDOS

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

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

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

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

HOMES

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

No price changes.

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

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

LOTS

No new listings.

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

No new or closed sales.

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 a nice flock of roseate spoonbills to keep things cheerful!

Susan Andrews, aka SanibelSusan

It’s 70 Degrees, with Real Estate Popular on Sanibel & Captiva Islands

Posted on January 9, 2015 by SanibelSusan

It’s SusanSusan reporting that it has been another good week here on the islands. With Sanibel and Captiva weather reported to have some of the warmest temperatures in the nation, real estate here once again has become seasonally popular! The below photo was taken earlier this week at Sundial Beach Resort.

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

Sanibel & Captiva Islands Association of Realtors® 1^st Caravan of 2015

After a 2-week reprieve with the Thursday holidays, yesterday’s Association of Realtors® Caravan meeting was well attended. With close to 20 east-end properties on tour, it was tough for lookers to see them all, but both David and Elise had good turnouts in Gumbo Limbo and at Sundial. At the meeting, I also announced our new listing in The Sanctuary, advising that it will be open next Thursday morning when the Caravan rotates to west end.

Tomorrow night is our annual Installation and Awards Banquet which is being held in Sundial’s new upstairs conference facilities. As the emcee again this year, it is always fun to welcome leadership teams from our surrounding associations in District 5 (Naples, Marco Island, Bonita Springs/Estero, Fort Myers & The Beach, and Cape Coral).

We also have Florida Realtors® 2015 President, Andrew Barber coming to install our new Board of Directors, while Florida Realtors® 2013 President and now National Association of Realtors® District Vice President, Dean Asher will install the officers.

My script is ready; now I just need to keep the names of the annual award winners a secret until tomorrow night.

6 Market Types You Will See This Year

I got a kick out of the below article which was posted Tuesday on Realtor®Mag’s “Daily Real Estate News”. Sanibel and Captiva Islands don’t exactly fall into the “Comeback Kids” category, but our market is coming back!

“From the stalwarts to the tech magnets and comeback kids, the new year is likely to see several types of markets. Redfin recently highlighted six “housing market personas” that the real estate brokerage believes will be driving the continued recovery in 2015. Here’s an overview of the personas and the pros and cons of each:

Stalwarts: “Strong economies, lots of Millennial buyers, yet still affordable.” Good news: Lots of jobs and booming economies. Bad news: Picky buyers and lack of selection. Markets that fit this persona: Chicago, Houston, and Dallas.

Topping Out: “Sky-high prices that will peak and even dip into negative territory this year.” Good news: Strong economies and well-paying government jobs. Bad news: Bidding wars and low inventories. Markets that fit this persona: San Francisco; San Jose, Calif.; and Washington, D.C.

Tech Magnets: “Tech-driven economies, young wealth; getting more expensive, with growth limited by zoning or geography.” Good news: Lots of wealthy households. Bad news: Little room to expand, and suburbs losing popularity. Markets that fit this persona: Boston, Seattle, and Denver.

Comeback Kids: “Markets hit hard by the financial crisis that will see a pickup in sales in 2015.” Good news: Lots of investors and broad-based job growth. Bad news: Few affordable single-family homes, and new construction mostly limited to the luxury market. Markets that fit this persona: Miami; Atlanta; and Orlando, Fla.

Sleepers: “Not in the news much, but mid-priced cities with good economies and job opportunities.” Good news: Lots of new development and big tech-job gains. Bad news: Not many affordable homes available. Markets that fit this persona: Baltimore; Philadelphia; and Raleigh, N.C.

Down But Not Out: “Hit hardest by housing crisis, fewer jobs, still working through foreclosures.” Good news: Lots of homes for sale. Bad news: Overzealous builders and cookie-cutter remodels. Markets that fit this persona: Las Vegas; Phoenix; and Tampa, Fla.”

Speed Limit Reduced to 20 mph in The Dunes

At Tuesday’s Sanibel City Council Meeting following a presentation which detailed the results of a traffic study in The Dunes subdivision, the speed limit was reduced by unanimous City council vote to 20 mph effective immediately.

Those looking to avoid the Periwinkle Way traffic by scooting through The Dunes had better do it slowly!

Zillow, ListHub to End Listings Agreement

An Inman News article on Tuesday, “Rupert Murdoch Playing Hardball with Zillow”, resulted in the following posting on Wednesday’s “Daily Real Estate News”:

“The real estate website Zillow will soon stop receiving feeds of hundreds of thousands of for-sale home listings from ListHub within the next three months, as it expects to transition to its own listing syndication tool.

Zillow’s contract with ListHub expires on April 7. ListHub is a listing syndicator owned by Move Inc., operator of realtor.com®. Zillow officials say they plan to get more listings directly from multiple listing services and brokers through a new service called “Data Dashboard.”

In a statement, Move Inc. said that “ListHub has been negotiating in good faith a new listing distributing and reporting agreement with Zillow on terms that reflect the best interests of the brokerage industry. As communicated in public announcements, Zillow decided to end those negotiations and announced the launch of their own platform. Zillow chose their own route for their business model and interests.”

“Zillow’s has been receiving listing data via ListHub since April 2011. Since Move’s acquisition by News Corp in December, there has been speculation about whether the agreement would be extended.

“With the ListHub contract ending, Zillow’s continued flow of listings will hinge on the appeal of Data Dashboard and broker and MLS participation with it. “A few hundred thousand listings” of the 3.6 million currently displayed on Zillow would be disrupted if the ListHub contract ended today,” said Katie Curnutte, a Zillow spokeswoman, in a report on Inman News. So Zillow officials are now reaching out to MLSs and brokers to participate in Data Dashboard. Since many of Zillow’s MLS partners with Data Dashboard, so far, are located in large urban areas, Curnutte told Inman News that rural areas initially may be the most affected by the end of the agreement with ListHub.”

The Sanibel and Captiva Islands Multiple Listing Service does not syndicate its listings so they are not specifically part of this ListHub/Zillow discussion. But, many island Realtors®, me included, also have their listings posted in the regional database (covering areas from Cape Coral to Naples) through a secondary affiliation membership with the Association of Realtors of Fort Myers & The Beach. I do this to broaden the local exposure of my listings and to give them double national exposure because by having two memberships each of our listings gets two postings on Realtor.com. Those second listings, the ones inputted into the regional database, are the ones that are syndicated to a variety of other real estate search sites, like Zillow, because the Fort Myers association does syndicate its listings through a third party, called Point2.

The evolution of how the internet is affecting real estate sales and the future of the profession is interesting and obviously changing, but the local island association (me too) still subscribes to the notion that it takes someone here with first-hand knowledge of the islands to best serve both sellers and buyers on Sanibel and Captiva. After all, real estate on a barrier island is significantly different from that in most home towns.

Sanibel & Captiva Multiple Listing Service Activity January 2-9

Sanibel

CONDOS

2 new listings: Loggerhead Cay #522 2/2 $695K, Sand Pointe #228 2/2 $799K.

2 price changes: Dugger’s Tropical Cottages #4 1/1 now $279K, Seascape #105 3/3 now $1.895M.

5 new sales: Spanish Cay #F6 1/1 listed for $275K, Lighthouse Point #113 2/2 listed for $499K, Sand Pointe #235 2/2 listed for $699K, Kings Crown #307 3/2 listed for $899K, High Tide #A101 3/2 listed for $1.199M.

4 closed sales: Colonnades #51 1/1 $170K, Spanish Cay #A6 1/1 $252.5K, Tennisplace #C35 2/1.5 $290K, Sanibel Surfside #133 2/2 $824K.

HOMES

8 new listings: 2984 Island Inn Rd 3/2 $599.9K, 1409 Causey Ct 3/3 $624.9K, 1173 Kittiwake Cir 4/2 $789.9K, 625 Sea Oats Dr 3/3 $799K, 1351 Middle Gulf Dr 3/3 $989K, 657 Birdie View Pt 3/3 $999K, 1740 Dixie Beach Blvd 3/2.5 $1.29M, 836 Sand Dollar Dr 3/2/2 $1.295M.

9 price changes: 702 Donax St 2/2 now $424K, 3168 Twin Lakes Ln 3/2 now $549.9K, 590 Lake Murex Cir 2/1.5 now $635K, 732 Durion Ct 3/2 now $719.9K, 218 Daniel Dr 2/2.5 now $829K, 1287 Par View Dr 3/2 now $889.5K, 6440 Pine Ave 3/3 now $1.295M, 1520 Angel Dr 4/3/2 now $1.398M, 842 Limpet Dr 4/3.5 now $1.595M.

3 new sales: 1712/1714 Sand Pebble Way 4/2 duplex listed for $399K, 457 Lake Murex Cir 3/2 listed for $475K, 999 Dixie Beach Blvd 3/2 listed for $599K.

3 closed sales: 1661 Sand Castle Rd 3/2.5 half-duplex $350K (foreclosure), 1203 Isabel Dr 2/3 $995K, 2302 Wulfert Rd 4/5 $1.25M.

LOTS

No new listings.

2 price changes: 1304 Eagle Run Dr now $249K, 6411 Pine Ave now $329,999.

No new or closed sales.

Captiva

CONDOS

1 new listing: Tennis Villas #3234 2/2 $427K.

No price changes, new or closed sales.

HOMES

1 new listing: 16177 Captiva Dr 7/7 $6.95M.

No price changes, new or closed sales.

LOTS

Nothing to report.

Until next Friday, above is one of my favorite photos of our island feathered friends (thank you, Hans),

Susan Andrews (aka SanibelSusan) at 239-472-HOME (4663), 888-603-0603, Susan@SanibelSusan.com, SanibelSusan Realty Associates Realtor/Broker/Owner

Last Sanibel Farmers Market Until Fall & Real Estate Scoop

Posted on April 26, 2013 by SanibelSusan

It has been another week of glorious spring weather on the islands. The Gulf of Mexico is turning into that bright aqua color that we love to see in the summer!

Here are a few news items, followed by the activity posted in the Sanibel and Captiva Multiple Listing Service over the last seven days.

Last Sanibel Farmers Market Until Fall

Talk about fresh! Here’s market organizer, Jean Baer, with Brussel sprouts still on the stalk! I sure hope they have more this week!

Expect to see Sanibel Farmers Market aficionados at the last one of the season on Sunday from 8 a.m. to 1 p.m. With 46 vendors this year, in addition to being a terrific source for fresh fruits, veggies, seafood, baked goods, other dining delights, and more, the Market is the go-to spot to mingle with neighbors and friends, and a favorite with vacationing visitors. After this weekend, many will be counting down until November when it starts up again. Thanks for another great season, Sanibel Farmers Market organizers!

Sanibel & Captiva Islands Association of Realtors

As another week comes to an end and high season winds down, our weekly Realtor® Caravan Meetings are changing from weekly to the summer schedule of every other Thursday morning. May also brings our annual end-of-season Realtor® fundraising event which still is often referred to as “The Over-the-Hump Party”. It includes a golf tournament plus social with RPAC auctions.

RPAC (or Realtors® Political Action Committee) is the voice of Realtors® on Capital Hill. Since 1969, RPAC has promoted the election of pro-personal-property-rights candidates across the U.S. During the last federal election cycle alone, RPAC contributed more than $12 million, making it the number one trade association political action committee in the nation. On the local level our RPAC Committee is active both in Tallahassee and Lee County, involved in such issues as water quality, the home mortgage and appraisal processes, affordable housing, sales tax initiatives, and more.

For several years, The Sanibel and Captiva Islands Association of Realtors® has won the state award for raising the most funds by a small board. Our intention is to make it happen again in 2013! More to follow on how much SanibelSusan’s donation garners this year!

How About Some Mulch?

: Playground, “Island Reporter” photo

Another upcoming Realtor® event in May is one of our give-back-to-the-community efforts. On May 4, Sanibel and Captiva Islands Association of Realtors® members will spend the morning laying mulch at this new Community Housing playground on Mahogany Way. Thanks to our Communications and Public Relations Committee for making this happen!

Why Zillow Often Is Wrong

One of my favorite real estate educators, Melanie Jackson McLane from Williamsport, PA, posted the following on her ActiveRain blog this week. I couldn’t agree more. (Thanks for allowing me to share this with my readers too, Melanie!) Her article says:

“This blog was inspired by a cartoon which shows a couple sitting with a real estate agent. The agent says: “Based on comps, I suggest listing at $350K.” Wife: “But we paid $650,000 for it!” Husband: “And Zillow says it’s worth $675,000!” I found the cartoon on Facebook and reposted. The sad truth is that most consumers do not understand Zillow—or House Values, or even their county assessment office—all of which use Automated Valuation Models (AVMs) to price property. The boring stuff first: AVMs use mathematical formulae, including multiple linear regression, to assign values to certain features of houses to come up with a value. As with any program, GIGO applies (Garbage In, Garbage Out). The AVMs out there for use today by consumers, of which Zillow is probably the best known, rely on reported and recorded sales data. This is why, if you live in one of the fourteen states in the US which does not record sales prices, the information you find may be sketchy, and derived from Multiple Listing Services (MLS). You may be thinking: “Well, what’s better than that? A recorded sales price tells me what that house down the street sold for.”

“Well, yes and no. A recorded price will tell you the amount they put in the deed as the transfer amount. It will not tell you:

If there were any “side deals” or cash under the table
If the seller paid closing costs or other fees on behalf of the buyer, known as “seller concessions”
If it was an “arms-length sale”, or one under duress, or between related parties, or any other sale which an appraiser would not usually consider.

“This is where the AVMs fall apart. As I always say when teaching pricing and valuation: “All comparables are sales; all sales are not comparables.” Here’s what I mean: in order for any real estate professional to use a comparable (“comp”) to compare to your home to establish a price or value, it needs to have sold. Houses that are listed and don’t sell indicate what the market won’t pay. Houses that are listed and sold indicate what the market will pay. However, not all sales are comparables. Here are some examples of houses I would not use for comps, as an appraiser:

The sale between two parties with the same last name, and it is verified that they are related by blood or marriage
The sale between two parties with different last names, but verification of the data revealed that the party selling the property was acting as executor of her mother’s estate, selling the 2/3 interest she and her sister had to their brother, who already owned a 1/3 interest
The property that did not sell at auction, and the next week the owner sold it for 20% below my appraised value to a neighbor, who was a friend
The property that sold for at least 20% higher than market, and upon verification, the buyer was not represented by an agent, was from out of town, and was unfamiliar with the market

“You will notice the same word in all four scenarios: “verification”. As an appraiser, I verify data. I’m required to. But any real estate professional who is good at his or her profession will verify data, and will only use data which is germane and pertains to the property. Zillow, and other AVMs, don’t verify data. They throw it all into the mix. Some is high, some is low, and some is just irrational. So, before you decide to sell your house based on a “zestimate”, do yourself a favor and get an opinion from a qualified real estate professional.”

20th Annual Sam Bailey’s Island Night

Wednesday, May 15 is the date for the 20th Annual Sam Bailey’s Island Night at the Lee County Sports Complex where the Ft. Myers Miracle will play the Dunedin Blue Jays. The gates are open at 5:30 p.m. The parades will start at 6:15 p.m. The Game begins at 7:05 p.m.

Free tickets are available at Bailey’s General Store, The Sanibel Rec Center, and sponsoring businesses.

‘Ding’ Darling To Celebrate “National Trails Day”

Take a hike, play Animal Olympics, and learn more about Refuge creatures and the “fingerprints” they leave on Refuge trails at J.N. “Ding” Darling National Wildlife Refuge during National Trails Day on Saturday, June 1. Indigo Trail and the Bailey Tract will be open all day free to hikers and bikers, who will be able to also experience the new Children’s Education Boardwalk trail. Wildlife Drive will remain closed for maintenance. Activities will include:

9 a.m. to 4 p.m. Animal Olympics: Test your abilities against the elite Olympians of the animal world. This fun, interactive program runs all day along the Indigo Trail.

10 a.m. Indigo Trail Hike: Join naturalists as they lead a one-hour tour identifying the ecosystem’s plants, animals, birds, reptiles, and more. Explore the Children’s Birding Trail and its two-story observation deck. Bring water and bus spray, and meet at the flagpole in front of the Education Center.

11 a.m. Reading in the Refuge: Oh Scat & Animal Tracks: Whose scat is that? Whose tracks are those? Learn about the wondrous world of animal tracking from a refuge naturalist in this fun, 30-minute interactive program in the Education Center Classroom.

1 p.m. Wildlife Wonders: What makes a bird a bird? Why is a manatee called a sea cow? Is that a crocodile or alligator? Find the answers to these questions and more as you join a naturalist in exploring the refuge’s unique ecosystem. The 30-minute program takes place in the Education Center Classroom.

The “Ding” Darling Wildlife Society-Friends of the Refuge co-hosts the 2013 National Trails Day activities to educate about wildlife and opportunities on getting outdoors at the refuge.

Hard Working Water: Did You Know?

A news item that I read this week in the May-June SCCF (Sanibel-Captiva Conservation Foundation) Member Update is worth repeating:

“For every gallon of water used in an average household, five times more water (40,000 gallons each month) is used to provide that home with electricity via hydropower turbines and fossil fuel power plants.

You can get a conservation three-fer – healthier rivers, fewer greenhouse emissions and cleaner air – by redoubling your energy conservation efforts! April is Water Conservation Month, let’s conserve!”

Sanibel & Captiva Islands Multiple Listing Service Activity April 19-26

Sanibel
CONDOS
2 new listings: Loggerhead Cay #331 2/2 $489K, Loggerhead Cay #133 2/2 $649K.
2 price changes: Coquina Beach #2E 2/2 now $599K, Tarpon Beach #203 2/2 now $675K.
6 new sales: Captains Walk #D5 2/1 listed for $213.9K, Island Beach Club #P1A 2/2 listed for $449.5K, Sanctuary Golf Villages I #6-2 2/2.5 listed for $455K, Lighthouse Point #230 2/2 listed for $495K, Surfside 12 #B4 3/2 listed for $869K.
3 closed sales: Tennisplace #E33 2/1.5 $245.5K, Captains Walk #B5 2/1 $307K, Loggerhead Cay #521 2/2 $510K.

HOMES
2 new listings: 720 Periwinkle Way 3/3.5 $1.429M, 1838 Buckthorn Ln 3/2 $1.45M.
7 price changes: 5650 SanCap Rd 2/2 now $524K, 3131 Twin Lakes Ln 3/2 now $694K, 1225 Junonia St 3/2 now $699K, 1300 Par View Dr 3/2 now $769K, 1130 Seagrape Ln 4/3 now $945K, 5418 Osprey Ct 4/3.5 now $995K, 912 Almas Ct 3/2.5 now $1.1M.
9 new sales: 1350 Middle Gulf Dr #1E 3/3 half-duplex listed for $669K, 1206 Par View Dr 3/2 listed for $699K, 701 Heather Ln 4/3.5 listed for $750K, 1255 Isabel Dr 3/3 listed for $889K, 479 Lagoon Dr 3/3 listed for $1.0945M, 1694 Dixie Beach Bldv 3/2 listed for $1.095M, 2429 Wulfert Rd 4/4.5 listed for $1.395M, 444 Lighthouse Way 5/4.5 listed for $2.395M, 3441 West Gulf Dr 5/4/2 listed for $4.9995M.
9 closed sales: 1639 Sand Castle Rd 3/2.5 half-duplex $360K, 1609 Sand Castle Rd 3/2.5 half-duplex $370K, 1414 Causey Ct 3/2 $499K, 9224 Dimmick Dr 4/2 $645K, 9470 Balsa Ct 3/2 $669K, 1507 Angel Dr 3/2 $675K, 1230 Par View Dr 3/2.5 $657.5K, 872 Limpet Dr 3/3 $1.475M, 2963 Wulfert Rd 4/6.5 $2.65M.

LOTS
No new listings.
1 price change: 9426 Sage Ct now $229,555.
No new or closed sales.

Captiva
CONDOS
No new listings.
1 price change: Tennis Villas #3138 2/2 now $395K.
1 new sale: Marina Villas #903 2/2 listed for $620K.
No closed sales.

HOMES
No new listings or price changes.
1 new sale: 16623 Captiva Dr 9/9 listed for $4.895M.
1 closed sale: 11490 Old Lodge Ln 3/3 $979K.

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 the general real estate activity in the community and does not imply that SanibelSusan Realty Associates is participating or participated in these transactions. If your property currently is listed with another broker, this is not intended as a solicitation of that listing.

Another weekend of terrific weather is expected here on sunny Sanibel & Captiva Islands. Here’s hoping that it is sunny in your neck of the woods too!

SanibelSusan

Sanibel Scoop & Captiva Chatter

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

Tag Archives: Zillow

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