Today, it has been a little overcast with a slight drizzle, so the phones, shopping centers, and roadways have been busy. Always happens on a non-beach day – or maybe it came from the announcement last week that Frommer rated the islands as his favorite 2012 vacation destination for 2012.

Nice to have some rain though, the local weatherman reported last night, that southwest Florida has only had 1/100th of an inch all year. We need more!

Resort and Second Home Real Estate Market

As follow-up to SanibelSusan’s attendance earlier this month at the Florida Realtors® Mid-Year Business Meetings, I read an interesting article posted by a colleague also involved in the resort and second home market. It was written last fall by George R. Harvey, Jr., 2011 Vice Chair of the National Association of Realtors® Resort and Second Home Real Estate Committee and owner of The Harvey Team brokerage in Telluride, CO. It is amazing how many similarities our vacation market businesses have. Titled “I Don’t Have to Sell“, it says:

“Quite often when I go on a listing presentation, the seller tells me at the end of the presentation, “Well, I really don’t have to sell”.  This is after giving them a thorough market analysis, showing them how many properties compete with their property and how many sales have happened in the last 12 to 15 months in their category.  Sometimes I’ll take them out to look at several of the most similar properties to their property in order to give them an idea of what their competition is.  Many times, of course, they say, “My property is better.”  As you might guess, most sellers take that position.  When I give the seller the market analysis, the same exact analysis that every buyer/broker is going to give their buyers and that seller says, “I really don’t have to sell,” the first question that enters my mind is, “So why are you putting your property on the market?”  It takes a terrific amount of effort on the listing broker’s part for showing appointments, marketing materials, and advertising expense to have a successful sale.  And then the seller is going to say, “If I can get my price I might sell my house.”  Let me translate what that means.  If we get a really wealthy person that will pay cash, close quickly, doesn’t do any market research, and is really stupid, and will just pay whatever the asking price is, I’ll sell my house.  What an incredible burden this creates for the listing agent and a setup for disappointment for all parties engaged. 

“One of the biggest problems that we have in the Telluride market as well as other markets in the resort and second home niche is sellers still pricing to the peak of 2006, ’07, and ‘08 markets. 

“Buyers in general are well informed and have done their homework on the internet and always ask for all the market comps.  Sellers often ​say, “Well my property is special or unique or here’s why I bought it”.  All those wonderful things are good points for potential buyers in the future, but every buyer has their own list of dreams and desires and they’re all watching Bloomberg. 

​”Not only does a property in this market have to be priced competitively, but it needs to be one or two best values in its market category to even get on the show list.  It also has to be in great condition, because buyers are now looking for every flaw possible and are making objections for the smallest of items.  The end result for sellers that don’t price to the market is following the market all the way down and always being just behind the selling price range rather than just in front of it where they should be.  If you are a property owner in a resort or second home market and truly want to sell, ask your listing broker to do a very thorough market analysis and what it will take to be the first one or two properties shown in that market niche.  It will greatly improve your odds of making a sale and won’t waste your time and your listing agent’s.”

Selling a Rented Property Can Pose Challenges

SanibelSusan Realty recently listed and successfully quickly sold a home that had a long-time annual tenant. More often than not this scenario comes with some objections from the renter, so I was intrigued to read an article posted this week on Florida Realtors® about the subject:

“Some homeowners turned into reluctant landlords and rented out their homes to earn extra income while the housing market was sluggish. But now some of these homeowners are ready to sell. However, real estate agents often caution clients that are trying to sell a home when a tenant still lives there can be tricky since many renters – who have no financial stake in the matter – aren’t always so eager to help market a home and keep it tidy and neat on their landlord’s behalf.

“Landlords should make a point to clearly communicate their intentions to sell, and not “sneak” the house on the market without telling the tenants first, real estate professionals say. Landlords might want to offer a concession on the rent to tenants in exchange for them keeping the home in clean, good condition while it’s on the market – such as 10% off each month’s rent while it’s on the market. But be sure to communicate expectations for cleanliness, such as keeping the dishes out of the sink and making the bed. Experts also suggest setting established hours for showing the property to make it easier on the tenant.”

Our recent island sale included first having the seller advise the tenant that the property was going to be sold. Then, I met with the renter to go through the property to find out any kinks, non-working items, and to inquire about their favorite points about the property. I also asked about them purchasing it. Then I worked out a cooperative agreement for when the property could be photographed for posting on the internet to ensure that prospective buyers and their Realtors® would “see” the inside before making showing appointments. The seller agreed to a small rent reduction during the period that the property would be on the market, while I offered to only make showing requests only for pre-qualified buyers and with 24 hours notice. It worked out well.

With seasonal rental property, particularly those with tenants here for only their short week-long annual vacation, the process is not always so smooth. Many rental organizations only permit showings during tenant-turnovers which sometimes can get tricky since that also may be the day that the prospective buyer is leaving town. Other organizations do not want showings when a unit is being cleaned. In “season” that can be that short window on a Saturday between a late morning check-out and a mid-afternoon check-in. Makes an island Realtor®’s job interesting.

With our listings, we always try to determine if a buyer is serious before even considering bothering a tenant. We query the requesting Realtor® with such questions as: Could they instead look on the next turn-over day? Have they seen the interior photos and streaming video? Have they been to the complex? Walked the grounds? Do they realize that it has (special or limiting features)? Do they need rental income? Then once we have determined that the request is valid, we do our darndest to get them in.

It may involve coordinating with a rental office if they require that they make all tenant contacts – or sweet-talking a tenant – and sometimes offering an incentive like a free meal so that they are compensated for their inconvenience. It too often is a delicate conversation to convince an otherwise uncooperative renter that they are helping you by allowing a viewing during their Sanibel vacation.

After 20 years of it, The SanibelSusan Team usually gets the AOK. Elise, our Listing Coordinator, is a pro at it. She is honest, gives the tenant the option of being there but suggests that they are not, asks showing agents to always leave their business card so the tenant knows the showing is over, and profusely thanks renters for their consideration. We know that happy tenants can bring us business!

Real Estate Activity This Week

Not much was announced yesterday at our Sanibel & Captiva Islands Realtor Caravan Meeting, mostly more price reductions. Not so surprising with all the activity reported the week before. One of the island rental managers told me today that their bookings for February and March are now up 40% where they were last year at this time. It sounds like we will have a busy couple of months coming up. The SanibelSusan Team is ready.

Sanibel & Captiva Multiple Listing Service Activity January 20-27

Sanibel
CONDOS
4 new listings: Blind Pass #A105 2/2 $420K, Kimball Lodge #263 1/1.5 $547K, Pelican’s Roost 2/2 $699.8K, Compass Point #181 2/2 $1.187M.
3 price changes: Captains Walk #F7 2/1.5 now $228K, Sanibel Moorings #142 1/1 now $419K, Nutmeg Village #211 2/2 now $539K.
3 new sales: Ibis at The Sanctuary #301 2/2 listed for $399.9K, Nutmeg Village #310 2/2 listed for $549.9K, Wedgewood #102 3/3.5 listed for $2.295M.
2 closed sales: Spanish Cay #D6 2/2 $315K, Sanibel Arms West #I8 2/2 $427K.
 
HOMES
4 new listings: 9106 Mockingbird Ln 2/2 $499K, 775 Limpet Dr 4/3 $1.849M, 505 Kinzie Island Ct 5/4.5 $2.295M, 5063 Joewood Dr 4/4.5 $3.395M.
3 price changes: 2130 Sunset Cir 3/2 now $539K, 237 Daniel Dr 3/2 now $550K, 1755 Jewel Box Dr 3/2 now $599K.
3 new sales: 555 Rabbit Rd 3/2 listed for $415K, 3940 Coquina Dr 3/2 listed for $475K, 731 Nerita St 3/2 listed for $529K.
4 closed sales: 9248 Belding Dr 3/2 $235K, 1133 Sand Castle Rd 3/2 $442.5K, 947 Lindgren Blvd 3/2 $665K, 411 Lighthouse Way 4/3 $1.25M.
 
LOTS
No new listings.
1 price change:  4077 Coquina Dr now $209K.
1 new sale: 4407 West Gulf Dr listed for $1.85M.
No closed sales.
 
Captiva
CONDOS
No new listings.
2 price changes: Captiva Shores #6B 2/2 now $739.9K, Beach Homes #32 3/2.5 now $1.795M.
No new sales.
1 closed sale: Sunset Beach Villas #2224 2/2 $550K.
 
HOMES
1 new listing: 11551 Paige 5/6.5 $4.998M.
1 price change: 15009 Binder Dr 4/5.5 now $3.749M.
1 new sale: 11522 Andy Rosse Ln 4/4 listed for $2.275M.
No closed sales.
 
LOTS
1 new listing: 11517 Wightman Ln $719K.
No price changes, 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 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.

Happy weekend wishes from SanibelSusan

Photo courtesy of Jim Anderson, JMA Photography

Good news with several gulf-front high-end Sanibel sales announced at our Sanibel and Captiva Islands Association of Realtors Caravan meeting yesterday. We finally are “in season” with a noticeable increase in real estate activity. Now we begin dealing with the obstacles of selling real estate when the islands are busy: i.e. making appointments and convincing renters to allow showings when properties are occupied, competing with the weather when it is a beautiful day (and prospective buyers are out having fun rather than looking at real estate), jockeying for keys with other Realtors®, and the like. Makes the job fun! Today, we have bright blue sunny skies with temps expected to reach 79 degrees, followed by the low 80′s every day right into next week. Truly a terrific time to be here, looking at property, and usually when properties show best!

Florida Realtors® Posts Housing Market Indicators

As someone who reads nearly every real estate article that I can get my hands on, I have found it especially useful to watch the statistics that Florida Realtors® posts on line every week. These are not specific to the islands but the overall trend has been good. 

Florida existing home sales: (month-to-previous-year comparison) +11%

Florida existing condo sales: (month-to-previous-year comparison) +2%

Florida existing home median price: $130,100

Florida existing condo median price: $86,700

National existing home sales: (month-to-previous-month comparison; all housing types) +4%

National existing home median price: $164,200

National (Freddie Mac) mortgage rate: (all housing types) 3.89%

The SCCF Signs Are Clean

Here are a couple of photos taken yesterday of Dave and Lisa when they represented The SanibelSusan Team in helping perform a community service chore. Thanks to our islands Realtor® Association, all of the Sanibel-Captiva Conservation Foundation (SCCF) signs, which designate the many island conservation areas, are now spiffed up.

Dave and Lisa were tasked to cleaned both the main SCCF entrance sign on Sanibel-Captiva Road and the nearby Habitat Management sign. Nice job!

The plan is for specific Realtors to adopt individual signs so that they will attend to their clearing year-round so that they will always be sparkling. Yet another good cooperative effort that makes island ambience so special. Sanibel and Captiva residents, visitors, and business folks are known for being down-to-earth and helping-each-other. Love that community spirit!

If You Are Lucky Enough to Be Here

Be sure to click the “upcoming events” tab above for the schedule of island happenings. There are many new events this year. SCCF, BIG ARTS, CROW, and others have expanded their programs. Almost makes a girl wish that she wasn’t working; but there are plenty of evening events too.  Community chorus is back in full swing and practicing hard for our upcoming spring concert March 22. There already is talk that it will be a sell-out so a second performance is being considered. Tickets go on sale soon.

Sanibel & Captiva Multiple Listing Service Activity January 6-13

Sanibel
CONDOS
5 new listings: Sundial #D305 1/1 $269K (short sale), Heron at The Sanctuary II #3B 2/2.5 $609K, Pine Cove #102 3/2 $879K, Sanctuary Golf Villages #4 3/3 $948K, Pine Cove #104 3/2 $1.35M.
8 price changes: Seashells #26 2/2 now $274K, Beach Road Villa #106 2/2 now $295K, Sanibel Arms West #K3 2/2 now $399K, Sanctuary Golf Villages #3-2 3/3 now $499K, Sand Pointe #211 2/2 now $619K, Pointe Santo #A21 2/2 now $769K, Signal Inn #18 2/2 now $889K, Gulfside Place #319 2/2 now $974K (our listing).
6 new sales: Sanibel Moorings #1512 2/2 listed for $429K, Sanibel Arms West #I8 2/2 listed for $449K, Seawind II #5 2/2.5 listed for $599K, Gulf Beach #207 2/2 listed for $719K, Gulfside Place #318 2/2 listed for $1.1M, Wedgewood #203 3/3.5 listed for $1.95M. 
3 closed sales: Sundial #G206 1/1 $260K; Sand Pointe #133 2/2 $534,285 (short sale); Gulfside Place #104 3/2 $1.129.5M.
 
HOMES
8 new listings: 1430 Sandpiper Cir 2/3 half-duplex $446,225; 1750 Dixie Beach Blvd 3/2.5 $629K (short sale); 1308 Tahiti Dr 3/3 $789K; 667 Anchor Dr 4/3.5 $995K; 960 Victoria Way 3/3 $1.095M; 2279 Troon Ct 3/4 $1.495M; 547 Kinzie Island Ct 5/5.5 $1.775M; 4203 Dingman Dr 4/3 $2.595M.
7 price changes:  293 Palm Lake 3/2 now $479K, 220 Southwinds Dr 2/2 now $499K (our listing), 569 Lighthouse Way 3/3 now $1.05M, 1765 Venus Dr 3/3 now $1.199M, 568 Lighthouse Way 2/2 now $1.4M, 4781 Tradewinds Dr 3/2 now $1.839M, 1918 Woodring Rd 4/4 now $2.799M.
12 new sales: 1133 Sand Castle Rd 3/2 listed for $499K, 5657 SanCap Rd 3/2 listed for $545K, 480 Peachtree Rd 3/3 listed for $549K, 210 Daniel Dr 3/3 listed for $549K (our listing), 947 Lindgren Blvd 3/2 listed for $749K, 1537 Sand Castle Rd 4/3 listed for $774K, 1360 Eagle Run Dr 5/3.5 listed for $900K (short sale), 913 Kings Crown Dr 4/3 listed for $995K, 730 Birdie View Pt 3/2.5 listed for $1.35M, 5029 Joewood Dr 3/2 listed for $1.985M, 5045 Joewood Dr 3/3.5 listed for $2.295M, 3805 West Gulf Dr 4/4.5 listed for $4.495M.
4 closed sales: 683 Emeril Ct 2/2 $440K, 3145 Twin Lakes Ln 3/3 $444K, 1057 Sand Castle Rd 3/2 $625K, 784 Birdie View Pt 4/4 $1.5M.
 
LOTS
No new listings.
1 price change: 1114 Seagrape Ln now $475K.
1 new sale: 2285 Wulfert Rd listed for $139K (short sale).
1 closed sale: 1912 Ibis Ln $225K.
 
Captiva
CONDOS
1 new listing: Lands End Village #1664 3/3 $1.597.9M.
No price changes.
1 new sale: Lands End Village #1651 2/2 listed for $975K.
No closed sales.
 
HOMES
2 new listings: 15879 Captiva Dr 3/3 $2.498M, 15867 Captiva Dr 4/4.5 $3.498M.
1 price change: 16730 Captiva Dr 5/4.5 now $4.95M.
1 new sale: 16205 Captiva Dr 4/4 listed for $1.975M (foreclosure).
2 closed sales:  51 Oster Ct 2/2.4 $685K, 16891 Captiva Dr 3/2 $1.3M.
 
LOTS
No new listings.
2 price changes: 1114 Schefflera Ct now $498K, 13470 Palmflower Ln now $869K.
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 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.

Until next Friday, here’s hoping your days are as bright as our forecast on sunny Sanibel Island, :-) SanibelSusan

Frommer’s Favorite 10 Destinations

This week, I came across an interesting article on-line posted by Arthur Frommer, founder of Frommer’s Travel Guides. As one who as found his guides to be “spot on”, it was great to see that when he wrote about his favorite vacations destinations, Sanibel was on the list. His article said: “To me, the leisure enjoyed during the holiday season is a perfect time in which to plan future vacations. And so I’ve compiled a list of my own favorite destinations, of which there are 10:

1. Sanibel Island, Florida

2. The Island of Bali, in Indonesia.

3. Paris, France

4. St. Johns in the U.S. Virgin Islands

5. Cairo, Egypt

6. Bonaire, one of the “ABC” islands of the southern Caribbean

7. Yachats, the Oregon Coast

8. Chiang Rai, Thailand

9. New York City’s Greenwich Village (& its Off-Broadway theaters)

10. Kenya

Runners-up to my 10 best: Copenhagen, St. Lucia in the Caribbean, Oxford, Mexico’s San Miguel del Allende, and Rio.”

Local Installation & Awards Banquet

Last Saturday, our Sanibel & Captiva Islands Association of Realtors® had their Installation and Awards Banquet. Lisa, David, and I represented SanibelSusan Realty. I picked up an Honor Society award for the 19th year (wow, how time flies).

As part of our contributions to the community, local association members recently volunteered to keep Sanibel-Captiva Conservation Foundation (SCCF) signs clean. SanibelSusan adopted the SCCF entrance sign and the Habitat Management sign on San-Cap Road, so if you have noticed that they are looking a little shabby, they should be sparkling in another week.

Fishermen Mark Your Calendars

Dave with tarpon that he caught & released in 2007

Local fishermen, members of the Fort Myers Beach Tarpon Hunters Club, and professional fishing guides along with J.N. “Ding” Darling National Wildlife Refuge and Doc Ford’s restaurants staffs, including award-winning Doc Ford novelist Randy Wayne White, just announced a “Ding” Darling & Doc Ford’s Tarpon Tournament. Slated for May 5, 2012, the event will have cable network coverage and a 100% purse. Expect to hear more about it in the weeks to come.

Free Refuge Days

By Presidential decree, “Ding” Darling’s Wildlife Drive will be open free of charge tomorrow, January 14, through Monday, January 16. The Refuge Education Center – which is always open free to the public – also will be open all three days, including the Martin Luther King Jr. holiday.

‘Strategic Default’ Poses Ethical Question

A thought-provoking article was posted in Florida Realtors this week. The source is “As Home Prices Fall, More Borrowers Walk Away,” MSNBC.com (Jan 9, 2012): “Some homeowners who owe more on the mortgage than a home is currently worth are turning over the keys and walking away – a move known as “strategic default.” The growing number of strategic defaults across the country is alarming, particularly since many of homeowners can still afford their mortgage payments but choose to walk away anyway.
“In 2010, about 30% of mortgage defaults were from homeowners who could afford to make their payments – that’s up from 22% in 2009, according to a 2011 survey conducted by finance professors Paola Sapienza at Northwestern University and Luigi Zingales at the University of Chicago.
“A recent study commissioned by the Mortgage Bankers Association likens the rise in strategic defaults to the spread of a disease. The longer the housing crisis goes on, the more other homeowners will be tempted to walk away, the study concludes. “As fundamentally social animals, humans consciously (and subconsciously) look to their peers when forming opinions, habits and behaviors,” according to the report.
“Strategic default has come down to an ethical question for some homeowners. “Guilt and morality are one side, and objective financial analysis are on the other side,” said David Martin, 68, who has considered walking away from a Seattle condo he owns with his wife because the condo is worth about $60,000 less than the balance on their mortgage. “They’re coming to two opposite conclusions. I wonder how many other people are struggling with the same question.” Martin and his wife have decided to stick it out, however, hoping for a rebound in housing prices in 2013 as they continue paying their mortgage.
“But other homeowners weighing the question are not always reaching the same conclusion. “It’s a looming problem that’s in the shadows,” Jason Kopcak, a mortgage trader at Cantor Fitzgerald, told MSNBC.com. “It’s very worrisome to mortgage lenders.”
“Strategic defaulters who walk away from their property, however, may have more to worry about than the morality and ethics of their action. They’ll face a blemish to their credit score; and in some states, lenders may still be able to pursue them in court in what’s known as a “deficiency judgment” seeking a full repayment of the mortgage balance.”

Real Estate Activity This Week

New listing at 210 Daniel Dr in Seagull Estates

We saw a reduction in the number of showings this week which is typical after New Year’s week visitors go home, still had fairly good action though. I showed entry-level condos one day and finally got a condo sale together after a few weeks of negotiation. Lisa and David also had an excellent turn-out at our Caravan Open House in Seagull Estates yesterday.

This observation may be premature, but I am thinking that in certain areas/property types, we are beginning to see fewer new listings and more sales. Wouldn’t it be great for demand to finally eat up some of the abundant supply?

Sanibel & Captiva Multiple Listing Service Activity January 6-13

Sanibel
CONDOS
4 new listings: Sanibel Arms #D2 1/1 $229.5K, Sanibel Moorings #1512 2/2 $429K, Sea Pines #D 3/3 $499K, Loggerhead Cay #583 2/2 $569K.
5 price changes: Sundial #H108 1/1 now $249K, Lake Palms #7 2/2.5 now $299K, Loggerhead Cay #432 2/2 now $459K, Compass Point #213 2/2 now $579K, Sanctuary Heron #2B 3/3.5 now $610K, Surfside 12 #C4 3/2 now $825K.
5 new sales: Sundial #G206 1/1 listed for $279.9K, Blind Pass #G102 2/2 listed for $389K, Loggerhead Cay #422 2/2 listed for $422.5K, Loggerhead Cay #513 2/2 listed for $899K, Plantation Village #B122 3/3 listed for $1.895M.
2 closed sales: Colonnades #10 1/1 $160K, Loggerhead Cay #422 2/2 $422.5K, Tarpon Beach #201 2/2 $572.5K.
 
HOMES
3 new listings: 1610 Sabal Sands Rd 3/2 $534.9K, 1170 Sandcastle Rd 3/2 $619K, 5820 Pine Tree Dr 2/2 $695K.
8 price changes: 2130 Sunset Cir 3/2 now $569K, 9454 Calla Ct 3/2 now $618,816, 557 N Yachtsman Dr 4/3 now $729K, 4960 Joewood Dr 4/3 now $799K, 1111 Schooner Dr 3/3 now $899.9K, 919 Almas Ct 3/2.5 now $1.225M, 4630 Rue Bayou 4/4 now $1.285M, 760 Periwinkle Way 3/2.5 now $1.499M, 1310 Seaspray Ln 5/4.5 now $3.695M.
9 new sales: 9003 Mockingbird Dr 5/4 listed for $499.9K (short sale), 1773 Bunting Ln 3/2 listed for 579K, 935 Lindgren Rd 3/2 listed for $599K, 244 Christopher Ct 3/2 listed for 599.9K, 450 Sea Walk Ct 4/3 listed for $624.9K, 1019 Lindgren Rd 3/2 listed for $739K, 970 East Gulf Dr 3/4.5 listed for $763K (short sale), 3746 West Gulf Dr 4/4.5 listed for 1.249M, 598 Kinzie Island Ct 3/3.5 listed for $1.595M.
3 closed sales: 1797 Serenity Ln 2/2 $285K (our listing), 1436 Sandpiper Cir 2/2 half-duplex $300K, 1123 Sandcastle Rd 3/2 $500K.
 
LOTS
1 new listing:  1226 Isabel Dr 1.8M.
No price changes.
No new or closed sales.
 
Captiva
CONDOS
1 new listing:  Tennis Villas #3121 1/1 $225K.
No price changes.
1 new sale:  Sunset Beach Villas #2224 2/2 listed for 635K

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.

Whether you are off to enjoy a 3-day weekend or not, here’s hoping it’s a good one. SanibelSusan will be open to help you with your island real estate needs every day!

SanibelSusan

One of our favorite photos taken by our pal, Jim Anderson, JMA Photography.

SusanSusan here to report that once the islands got caught in a mid-week cold front (we have had our heat on for three nights – ugh), real estate activity picked up. Several new sales were announced at the Realtor Caravan Meeting yesterday. This week, we listed two homes, held a few open houses, saw showings increase with the chilly weather, and I wrote an offer on a condo.

As you would expect with the nation’s economic indicators, the property moving is either very-well priced or unique. A couple of near-beach pool homes were reported to go under contract after being on the market just a short time and we have heard of some multiple offers on some “super deals”.  

Below is a bit of info about the islands as we wrap up 2011 and begin 2012. Following that is the activity posted since last Friday in the Sanibel and Captiva Islands Multiple Listing Service.

What’s On Sanibel’s Agenda for 2012

A recent article in the “Island Reporter” included looking ahead to the new year. For example, “the year will begin with the City sponsoring a number of public hearings to consider needed changes in the commercial district. All intended to ensure Sanibel, as haven for tourists, remains competitive on a world market, but not in a way that forsakes the environmental qualities that make it so enviable in the first place…In 2012, Public Works will begin the rehabilitation and painting of Sanibel’s famed lighthouse. They will also begin construction of the Bailey Road shared use path, an extension of the Dixie Beach Boulevard shared use path and widening of the shared use paths along Tarpon Bay Road as well as Middle Gulf Drive, among other things.”

A similar article, in looking forward to 2012, the Sanibel & Captiva Chamber of Commerce “reports that indications from accommodation businesses are that the season will be very strong. The new year will mark a major celebration year for the Chamber as it will bring a 50th anniversary to fruition in February. A major Open House and production of commemorative materials will help mark the milestone.” “Last year more than 190,000 visitors came to the Chamber’s Visitor Center to secure information on lodging, dining and fun things to do when in Sanibel or Captiva.” 

The Sanibel Captiva Conservation Foundation (SCCF) reports that “2011 was made especially remarkable due to the “extraordinary support of islanders” who helped the organization secure the 28.3 acres of land fronting Periwinkle Way known as the Bailey Homestead Preserve. SCCF staff and volunteers are presently hard at work at the Homestead, restoring the house and wildlife habitat, as well as the Shipley Trail which, when complete, will connect the City’s Pond Apple Trail to Roadside City Park. They hope to have the Preserve open to the public in a year.

“In further looking ahead into 2012, SCCF’s marine laboratory will be undertaking research which includes environmental monitoring and facilitating restoration projects imperative to the health of area waters. Among these initiatives is seagrass study and restoration, Clam Bayou oyster reef and mangrove restoration, scallop research and restoration, and water quality/seagrass monitoring within the J.N. “Ding” Darling National Refuge.” 

“In terms of managing wildlife habitats, SCCF will be working on the Foundation’s preserved lands as well as public lands through a partnership with the City of Sanibel and the J.N. “Ding” Darling Refuge, with the goal to make these lands as productive as possible for wildlife through projects that include the sea turtle and shorebird nest monitoring programs. They will additionally be studying bobcats, gopher tortoises, freshwater fish and reptiles, eagles, and managing habitat quality through a series of prescribed burns and land management operations.”

“Last year also saw the culmination of many projects at the J.N. “Ding” Darling National Refuge; among them, enhancements made to the Calusa Shell Mound Trail and reopening of the Buck Key Paddling Trail. Their education center was also complemented with a historic Duck Decoy Exhibit….The Refuge was further distinguished as the first in America to open an interactive iNature Trail using QR Code technology…. Some 800,000 visitors came to the Refuge in 2011…. 2012 plans call for the opening of a new exhibit touting the marvels of manatees…opening of a new crocodile exhibit. The Children’s Education Boardwalk connecting the Refuge with the Sanibel School is also scheduled to open in 2012.”  

Sanibel & Captiva MLS Activity December 30-January 6

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.

With a cooler weather (down into the 60′s) both yesterday and today, the restaurants and shops too are busier, though our Realtor® colleagues report very few visitors during their Christmas week open houses. We also held listings open two afternoons and likewise had few inquiries. Once again this year, this holiday week has been more a family time for island fun. 

High Season Indicators

Reports are that Sundial Beach and Golf Resort was booked at only 60% over the Christmas holiday, with other rental organizations indicating similar occupancy. Even fewer arrivals are expected for the New Year when the Christmas visitors check-out tomorrow. After that, we expect our standard lull until about mid-January, when the snow really begins to fall up north and things will pick up here again. Good solid bookings already are indicated for both February and March.

We also always know that “high season” is upon us when we get a flurry of calls to list property. As much as we prefer getting new listings in the fall, many prospective sellers wait until December and January to contact us, when “season” is essentially here. We had three such calls yesterday and once again had to advise the owners that to position their properties to sell in today’s market, they need to be priced at considerably less than their expectations. Those conversations are definitely not the fun part of our job.

Status of Offers

Sanibel Lighthouse

I worked negotiating a couple of offers over the Christmas holiday. No good news to report on those yet. Just to illustrate the frustrations in today’s market, one is a situation where a prospective buyer offered 25% less than the asking price on one of our best-priced listings. The other is where I wrote a clean offer on another company’s listing at only 8% less that the asking price. That property has been on the market for several years and the sellers refuse to respond. We are persistent, however, so I anticipate that “season” will be a good one for the “reasonable” buyers and sellers.

Year-End Sanibel Update on Inventory and Sales

These probably are not the final numbers as there are a few island closings occurring this afternoon, but the summary below shows that Sanibel inventory is back up as we go into “season”.

• 265 condos are for sale, 9 are under contract, & 142 have sold/closed this year, which is more than the 120 sales in 2010. Average sale price is $591,672 which is 3% less than last year & 32% less than the heyday of 2006.
• 231 homes are for sale, 28 are under contract, & 177 have sold/closed this year, which is more than the 124 sales in 2010. Average sale price is $819,080 which is 6% more than last year & 28% less than the heyday of 2006.
• 112 lots are for sale, 2 are under contract, & 18 have sold/closed this year. Average sale price is $378,381, which is higher than last year, but 21 lots sold in 2010, so the number of lot sales is down & the average sale price is 56% less than the heyday.

Filing for Florida Homestead & Property Tax Exemptions

The official filing period for the 2012 homestead exemption and property tax exemptions opens Sunday and ends on March 1. Applications filed after March 1 are considered late. If you believe you qualify as a Florida resident and reside in your home as a permanent resident as of January 1, you should apply right away, according to the Lee County Property Appraiser. Visit the property appraiser website – leepa.org for contact information, exemption qualifications and filing information. The office is at 2480 Thompson St., Fort Myers, corner of Fowler Street and Martin Luther King Jr. Boulevard.

Sanibel & Captiva Multiple Listing Service Activity December 23-30

Until next Friday, Happy New Year & best wishes for a healthy 2012 from SanibelSusan

It has been pretty quiet today at SanibelSusan Realty. Elise, Lisa, and Dave are enjoying a long weekend (Monday is a holiday for them too), while I am here hoping for some showing inquiries. We have a couple of offers in the works. Those are always fun for me and hopefully productive.

My yard, taken December 22, 2011

The December island weather continues to be delightful. Bright blue sky and temps in the high 70′s low 80′s expected right into next week. The bike paths, beaches, restaurants, shops, and roadways are busy busy. I think it is safe to say that the holiday visitors are arriving.

Here are a couple of news items about island animals. They are from a January Sanibel-Captiva Conservation Foundation newsletter article called “Living With New Island Wildlife” by Dee Serage, SCCF Living with Wildlife Educator. Following those is a good summary posted today by Florida Realtor of their top ten stories in 2011.

“Coyotes and a Florida Black Bear

“Eagles at Gulf Pines

“As many residents have noted, the Gulf Pines eagle nest is gone. The nest was on SCCF land in a snag (a dead tree) that snapped in half and fell over sometime in the early hours of October 18. Since that time, SCCF staffers and many others have been watching the eagle pair closely to see how they cope. Within a week, both eagles were seen flying with nesting materials in their talons and began working on at least two nests, which is not unusual. Field studies have shown that bald eagles often build multiple nests within their territory, with an average of 1.5 nests per territory, and ranging from one nest to five nests. Usually only one next will be used for nesting in any given nesting season. During the Thanksgiving holiday, the new nest at the original site also came down, but as of press time, the pair is on the remaining nest. Eggs were not found at either downed nest.

Florida Realtors Top 10 Stories in 2011

This is the Sanibel & Captiva MLS Activity Posted from Dec 16-23:

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.

Best wishes from Susan & the entire SanibelSusan Team for a very Merry Christmas & Happy New Year!

I showed condos most of last weekend, as well as on Monday. It was terrific weather for that, as we have continued with our sunny high-70 to mid-80-degree temperatures all week. More of the same is expected in the days to come. The photos above were taken this week and are indicative of the island December holiday spirit. 

December Realtor® Membership Meeting

Yesterday was the monthly membership meeting of our islands Association of Realtors®. Those are well attended events, where we have breakfast and usually enjoy a presentation designed to sharpen our business skills. The speaker was Dr. Bruce Neill who is an ocean advocate and Executive Director and co-founder (with his wife Evelyn) of the Sanibel Sea School. In addition to sharing some of his recent teaching exercises, he provided us with an update on the current red tide outbreak that has been reported locally for the past several weeks. Interestingly, although the readings are higher than any previously measured, there has not been much effect on wildlife and the environment. (Unfortunately the press often issues negative publicity whenever there is a red tide outbreak, so it was helpful to learn that the impact on tourism from this recent occurrence should be slight.) The Neills and their Sea School – with a motto that says “where every day is a field trip” – are providing wonderful educational experiences for both children and adults. Learn more about them and follow their blog at http://sanibelseaschool.org/blog/

Another item announced at our membership meeting was a request by the Sanibel-Captiva Conservation Foundation for some Realtor® help in 2012. Our pal, Kristie Anders, Education Director at SCCF, has worked cooperatively for many years with the Sanibel & Captiva Association of Realtors® in both developing and then teaching our Realtor® continuing education classes. So, whenever we can lend a hand, she knows that she can count on us. In early January we will be helping SCCF clean their signs throughout the island that designate conservation land, then later in the year, we will be out helping SCCF employees in planting baby mangroves. Both fun ways for us to give back to the islands we love!

Mortgage Rates Sink to Record Lows Again

According to an article posted today in “Daily Real Estate News”, fixed mortgage rates dropped even more this week, continuing the trend in reaching new record lows this year. Freddie Mac reported in its weekly mortgage market survey that the 30-year fixed-rate mortgage averaged 3.94% this week, while 15-year rates sank to 3.21% — both all-time lows from their previous record lows set on Oct. 6. The 5-year adjustable-rate mortgage also set a new record this week. 

The Federal Reserve at a meeting this week reaffirmed its commitment from this summer that it would keep interest rates low for the next two years.

 
Sanibel & Captiva MLS Activity December 9-16:

Sanibel
CONDOS
5 new listings: Tennisplace #D31 1/1 $189K, Seashells #29 2/2 $324.9K, Sandalfoot #3C3 2/2 $549K, Nutmeg Village #211 2/2 $569K, Signal Inn #5 2/1 $699K.
10 price changes: Lake Palms #2 2/2.5 now $275K, Ibis at The Sanctuary #A202 2/2 now $377.5K, Sanibel Arms West #M3 2/2 now $395K, Sanibel Arms West #K3 2/2 now $409K, Sanibel Arms #2 1/1 now $425K, Sanibel Arms West #H2 2/2 now $449K, Sanibel Arms West #G7 2/2 now $499K, Tarpon Beach #101 2/2 now $619K, Junonia #202 2/2 now $799K, Seascape #105 3/3 now $2.295M.
No new sales.
2 closed sales: Captains Walk #D4 2/2 $210K (our listing), Pelicans Roost #302 2/2 $740K.
 
HOMES
3 new listings: 1807 Buckthorn Ln 3/2 $849K, 2981 Wulfert Rd 4/4.5 $2.199M, 3805 West Gulf Dr 4/4.5 $4.495M.
15 price changes: 474 Surf Sound Ct 3/2 now $440K (short sale), 476 Las Tiendas Ln 3/2 now $629K, 1120 Junonia St 3/2 now $679K, 1339 Par View Dr 3/2 now $699K, 927 Limpet Dr 3/3 now $699.9K (foreclosure), 1339 Par View Dr 3/2 now $719K, 557 N Yachtsman Dr 4/3 now $749K, 228 Hurricane Ln 3/2.5 now $749K, 6001 Clam Bayou Ln 3/2 now $995K, 2294 Wulfert Rd 4/4 now $1.064M, 2449 Harbour Ln 2/2 now $1.095M, 4809 Tradewinds Dr 3/3.5 now $1.745M, 1470 Middle Gulf Dr 4/5.5 now $2.245M, 1191 Bird Ln 4/3 now $2.395M (short sale), 3864 West Gulf Dr 4/5.5 now $2.488M.
5 new sales: 1797 Serenity Ln 2/2 listed for $299K (our listing), 766 Donax St 2/2 duplex listed for $299K, 1800 Ardsley Way 3/2 listed for $564.9K, 1570 Sand Castle Rd 4/3.5 listed for $1M (short sale), 909 Snowberry Ln 3/3 listed for $2.15M.
2 closed sales: 1240 Middle Gulf Dr 3/2 $650K, 3577 West Gulf Dr 3/3.5 $2.985M.
 
LOTS
No new listings.
1 price change: 335 East Gulf Dr now $299.9K.
No new or closed sales.
 
Captiva

CONDOS
No new listings.
3 price changes: Bayside Villas #5308 3/3 now $599K, Captiva Shores #6B 2/2 now $744.5K, Beach Villas #2534 3/3 now $799K.
No new sales.
1 closed sale: Beach Villas #2613 1/1 $385K.
 
HOMES
No new listings.
2 price changes: 16185 Captiva Dr 4/4 now $1.299M, 15867 Captiva Dr 7/7.5 now $6.395M.
No new sale: 15161 Wiles Dr 5/5.5 listed for $2.395M.
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 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.

Off to finish my shopping.

Until next Friday, happy holidays from SanibelSusan 

Here are a few real estate news items, followed the activity posted in our islands Multiple Listing Service this week.

Sanibel Public Library Earns Top Honors 

The Sanibel Public Library has been named a 5-Star Library in the Library Journal Annual American’s Star Libraries 2011 Survey. The Library Journal Index of Public Library Service measures the service levels of 7,153 public libraries in the U.S. based on circulation, visits, internet use, and program attendance. This is the 2nd year Sanibel’s library has been honored as a Star Library and the first year as a 5-Star Library, the highest rating. Last year, it received a 3-Star rating. The Sanibel Public Library is the ONLY Florida library to be named a Star Library.

Leading U. S. Economists Say Florida’s Housing Market is Bouncing Back

Finally some good news! An article posted Wed by Florida Realtors® says: “Despite national and global headwinds, Florida’s real estate market is entering 2012 on an upward trend, according to three leading U.S. economists. “Our state is in a mini-recovery,” said Florida Realtors® Chief Economist Dr. John Tuccillo at the state association’s 2012 Real Estate and Economic Forecast Conference in Orlando. “Sales are trending up, listing inventories are falling, the supply of lender-related properties has stabilized, and we are seeing multiple offers on homes in some local markets.” “In fact, Florida homes today may be undervalued,” Tuccillo added. “That may seem like a drastic statement,” he said. “But a buyer who plans to own the home for five to seven years can get some great bargains today.”

“Mark Vitner, senior economist at Wells Fargo in Charlotte, N.C., said the U.S. economy will continue to face significant challenges, particularly financial concerns related to the European debt crisis. But he expects the U.S. economic recovery will continue next year, making it easier for Midwesterners, for example, to buy Florida homes. “Florida’s economy is recovering, with tourism and healthcare leading the way,” Vitner said. “International tourism has been particularly strong in Miami and Orlando.” Looking around the state, Vitner said Jacksonville’s unemployment rate has dropped and home prices are stabilizing. In Orlando, prices have not yet reached bottom, he said, but the winter tourism season should help the regional economy. Tampa and Southwest Florida have seen solid job growth, with little new home construction. South Florida’s economy is growing thanks to trade relationships with Latin America and the Caribbean, while in the Panhandle, Fort Walton Beach is outperforming Panama City and Pensacola, according to Vitner.

“Dr. Lawrence Yun, chief economist for the National Association of Realtors®, said many Florida markets are showing sharp drops in inventories of homes for sale – a sign that demand is picking up and prices are stabilizing. “That’s a major change from just a year ago,” he said. “Buyers have stepped back into the Florida market.” Noting the state’s powerful appeal to international buyers, Yun said he was particularly optimistic about the outlook for South Florida. “Don’t be surprised to see a gain in home prices in the Miami and Naples markets in the next 18 months,” he said. “From there, the recovery is likely to roll northward to Central Florida and then North Florida.”

“Tuccillo noted that foreclosed and distressed properties will remain a significant part of the Florida market in 2012, but lenders are feeding these properties into the market at a gradual pace rather than pushing them out all at once. The event also featured a panel of Florida real estate professionals, who discussed the 2012 outlook for several sectors of the state’s real estate market from a practitioner’s point of view. Panelists were Clark Toole, president and COO, Coldwell Banker Residential Real Estate Inc. in Florida, discussing residential real estate; Cynthia Shelton, 2009 president of Florida Realtors and a director at Colliers International in Orlando, discussing the commercial market; and Dean Saunders, accredited land consultant and broker-owner of Coldwell Banker Commercial Saunders Real Estate in Lakeland, covering the market for land and undeveloped property. Florida Realtors real estate and economic summit was webcast to 32 local association or satellite sites around Florida. “Turnout was high for our statewide event,” said 2011 Florida Realtors President Patricia Fitzgerald, manager/broker-associate with Illustrated Properties in Hobe Sound and Mariner Sands Country Club in Stuart. “We hope to hold more of these forums on a regular basis – sharing knowledge of market trends is a powerful way for our Realtor members to connect with buyers and sellers.”

Jumbo Mortgage Rates Hit New Record Low

The following was posted today in Florida Realtors®. “The jumbo 30-year fixed mortgage rate fell to a new record low of 4.68%, according to Bankrate.com’s weekly national survey. The average jumbo 30-year fixed mortgage has an average of 0.4 discount and origination points. According to Bankrate’s weekly survey, the average conforming 30-year fixed mortgage inched lower to 4.24% while the 15-year fixed mortgage held steady at 3.48%. Adjustable rate mortgages were mostly lower, with the average 5-year ARM sliding to 3.18% and the 10-year ARM inching down to 3.8%. Mortgage rates are low, but based on the ultra-low levels of benchmark interest rates such as 10-year Treasury notes mortgage rates could be even lower. Since August, the European debt crisis has pushed the spread between risk-free U.S. government bonds and those of other bonds, such as mortgage-backed bonds, to the highest levels since the spring of 2009. At that time, financial tensions were at a fever pitch, particularly surrounding the health of the U.S. banking system. This time, it is Europe’s banking system in the crosshairs, but the result is much the same – a higher-than-typical cost of borrowing when compared to the rock-bottom government rates. Bankrate’s national weekly mortgage survey is conducted each Wednesday from data provided by the top 10 banks and thrifts in the top 10 markets.

New Sanibel Restaurant – Il Cielo

I noticed in driving home from the office last night that a new sign is up at the former Dolce Vita location at 1244 Periwinkle Way. The opening of Il Cielo (which is “the sky” in Italian) has been rumored since last spring. Opening was expected in October, but obviously that did not happen. It will be interesting to find out if Loretta Paganini, host of “Simply Gourmet” on the Discovery Channel and proprietor of the International Culinary Arts & Sciences Institute, who was invited by Shoreline Investments, the financial backer of the eatery, is involved in what she earlier described as “the definitive Italian restaurant.” We will be watching for their grand opening.

Sanibel & Captiva Islands Multiple Listing Service Activity December 2-9:

Sanibel
CONDOS
9 new listings: Sundial #G107 1/1 $274.9K, Lake Palms #7 2/2.5 $318K, Loggerhead Cay #422 2/2 $419K, Signal Inn #12 1/1 $419K, Sanibel Arms #A1 2/2 $435K, Sanibel Moorings #142 1/1 $450K, Sunset South #9D 2/2 $499K, Sundial #K203 2/2 $789K, Pointe Santo #E32 2/2 $799K.
6 price changes: Sundial #D207 1/1 now $279.9K, Sundial #F408 1/1 now $299K, Ibis at The Sanctuary #A102 2/2 now $410K, Loggerhead Cay #422 2/2 now $422.5K, Sandalfoot #3D1 2/2 now $449.9K, Mariner Pointe #131 3/2 now $549K.
3 new sales: Tennisplace #D23 1/1 listed for $155K (short sale), Tennisplace #C21 1/1 listed for $238K (short sale), Tarpon Beach #110 2/2 listed for $639K.
2 closed sales: Tennisplace #B31 2/1 $258K, Loggerhead Cay #333 2/2 $390K.
 
HOMES
6 new listings: 1797 Serenity Ln 2/2 $299K (our listing), 1617 Sand Castle Rd 3/2 half-duplex 375K, 1585 Serenity Ln 3/2 $419K, 3812 Coquina Dr 3/2 $445K, 3229 Twin Lakes Ln 2/2 $499K, 1429 Jamaica Dr 4/3 $499K.
5 price changes: 1121 Skiff Pl 3/2 now $579K, 545 Lake Murex Cir 3/3 now $599K (short sale), 913 Kings Crown Dr 4/3 now $995K, 5810 Pine Tree Dr 4/3 now 1.295M, 3401 West Gulf Dr now $4.788M.
2 new sales: 1133 Sand Castle Rd 3/2 listed for $499K, 4449 Waters Edge Ln 3/3 listed for $3.9M.
3 closed sales: 9239 Kincaid Ct 2/2 $240K, 721 Cardium St 2/1 $292K, 1046 Sand Castle Rd 2/2 $355K.
 
LOTS
No new listings.
1 price change: 659 Anchor Dr now $549K.

1 new sale: 2355 Wulfert Rd listed for $169K.
No closed sales.
 
Captiva
CONDOS
1 new listing: Lands End Village #1637 2/2 $1.299M
1 price change: Captiva Bay Villas #2 3/3.5 now $2.095M
No new or closed sales.
 
HOMES
3 new listings: 16742 Captiva Dr 3/3 $2.795M, 16910 Captiva Dr 4/4 $4.85M, 1121 Schefflera Ct 4/4.5 $6M.
No price changes.
2 new sales: 11537 Andy Rosse Ln 4/4 listed for $1.725M, 16849 Captiva Dr 6/6/2 listed for $2.695M.
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 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.

On Captiva, Luminary is tomorrow night, with their partying continuing through December 17, their full schedule is posted on CaptivaHolidayVillage.com.com. BIG ARTS Chorus will be singing on Captiva tomorrow night too, at 6:30 p.m. outside the Shirley Allen Gallery on Andy Rosse Lane. No carols here but rather a dress rehearsal of our full holiday concert which is coming up next week, December 8 at 7 p.m. in Shein Hall at BIG ARTS.

Realtor Caravan at The Sanctuary

Our local Association of Realtors® had our weekly caravan meeting yesterday at The Sanctuary Golf Club. It was very well attended which probably had something to do with the wonderful breakfast buffet they provide. The Sanctuary staff, including their head of membership, Sheryl Tatum, does a terrific job in keeping the real estate community aware of their offerings and it is such a pleasure to work with them in selling the islands. For any readers, thinking of buying a social membership, there are only a handful (literally) of these opportunities left. The Club General Manager, Ken Kouril advised that the 12 months has seen a terrific increase in memberships of all types. With the 50,000 sq. ft. clubhouse decorated to the nines for the holidays, the golf, tennis, and pool/fitness facilities in perfect condition, and the food and service top-notch, it is no surprise.

Today’s Market – Once-in-a-Lifetime Opportunity

Florida Realtors® posted the following article this week: “The monthly cost of owning a home is more affordable now than in the past 15 years, and is less expensive than renting in numerous cities, according to The Wall Street Journal’s third-quarter survey. Low home prices mixed with low mortgage rates – hovering at 4% or lower – create an appealing buyer’s market, analysts say. For example, buyers today have a 77% increase in their borrowing power compared to 1991, according to Dan Green, a loan officer with Waterstone Mortgage in Cincinnati. He says that in 1991 a $1,700 mortgage payment allowed a borrower to take out a $200,000 mortgage; today, at current interest rates, the homebuyer can get a $350,000 loan for that same monthly mortgage payment. In 12 out of 28 cities tracked by The Wall Street Journal, monthly mortgage payments on a median-priced home – including taxes and insurance – were lower than the average rent levels. In Atlanta, owning was the most favorable compared to renting. The monthly rent on a median-priced home there was $539 during the third quarter (with a 20% down-payment) compared to the average asking rent, which averaged $840, according to data provided by Marcus & Millichap. Nationwide, apartment rents are expected to rise by about 4% this year, which may make the owning vs. renting picture tilt even higher, according to some analysts. Despite the appealing housing picture for homebuyers, some continue to stay on the sidelines, unable to sell their current home, qualify for a mortgage due to the tighter credit requirements or keep a steady job, housing experts say.”

City Meeting on Redevelopment

Dave represented SanibelSusan Realty at the cooperative meeting held at The Community House on Tuesday to discuss redevelopment of properties in the resort district areas. The City is updating the Sanibel Land Development Plan, tackling it in phases. The changes discussed at this initial meeting were made to encourage updating of some of the older non-conforming island resort-type properties, while retaining most of their rental capability and physical characteristics. The meeting was well received and we have a copy of the handout if anyone wants it sent to them.

Not Much Real Estate Action

This is the beach in front of Sanibel Arms West looking toward the Florida mainland skyline

You will notice below from the activity posted this week in our Sanibel and Captiva Multiple Listing Service that things have slowed down here a bit. It seems to happen every year, as folks get into the holiday spirit. We were fortunate to put a home contract together this week. I also received an offer on a condo listing today. A little too early to tell how that one will pan out, but we are very thankful for each and every offer. 

Sanibel & Captiva MLS Activity November 25 – December 2

Sanibel
CONDOS
5 new listings: Tennisplace #A26 2/1 $325K, Mariner Pointe #1092 2/2 $436K, Ibis at The Sanctuary #302 2/2 $475K, Sunset South #1B 2/2 $588.5K, Tarpon Beach #101 2.2 $599K.
8 price changes:  Colonnades #47 1/1 now $149K (our listing), Lake Palms #9 2/2.5 now $260K (short sale), Ibis at The Sanctuary #301 2/2 now $399.9K, Loggerhead Cay #232 2/2 now $569K, Loggerhead Cay #401 2/2 now $599K, Pine Cove #303 2/2 now $97K, Sundial #L205 2/2 now $995K, Sedgemoor #105 3/3.5 now $2.35M.
No new sales.
1 closed sale: Sunward #101 3/2 $750K.

HOMES
1 new listing: 1800 Ardsley Way 3/2 $564.9K.
10 price changes: 555 Chert Ct 3/2 now $414K, 2210 Camino Del Mar 3/2 now $545K, 5740 SanCap Rd 2/2 now $549K, 9454 Cotten Ct 3/3 now $599K, 1400 Albatross Rd 3/3 now $549K, 1316 Eagle Run Dr 4/3 now $899K, 1570 Sand Castle Rd 4/3.5 now $1M (short sale), 569 Lighthouse Way 3/3 now $1.145M, 1765 Venus Dr 3/3 now $1.249M, 3400 West Gulf Dr 4/3 now $1.349M.
5 new sales: 1214 Par View Dr 2/2 listed for $499K (our listing), 4215 Gulf Pines Dr 5/3.5 listed for $619K, 2555 Coconut Dr 3/2 listed for $685K (short sale), 1242 Middle Gulf Dr 3/2 listed for $730,751, 784 Birdie View Pt 4/4 listed for $1.695M.
4 closed sales: 3180 Twin Lakes Ln 3/3 $582.5K, 618 N Yachtsman Dr 3/2 $670K (short sale), 6192 Henderson Rd 3/2 $829K, 1052 Whisperwood Way 3/3 $1.3M.

LOTS
1 new listing: 847 Casa Ybel Rd $164,555.
1 price change: 6401 Pine Ave now $699K.
No new or closed sales.

Captiva
CONDOS
1 new sale: Bayside Villas #5140 1/2 $285K.
1 price change: Seabreeze #1253 3/3 now $1.595M.
No new or closed sales.

HOMES
No new listings.
3 price changes: 15351 Captiva Dr 5/4 now $2.895M, 15891 Captiva Dr 5/4 now $3.249M, 16730 Captiva Dr 5/4.5 now $5.25M.
1 new sale: 16 Urchin Ct 2/2 listed for $699K.
1 closed sale: 11536 Wightman Ln 3/3 $757.5K.

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.

A little scuttlebutt here last weekend was the official posting in one of the local newspapers that Sundial Resort is for sale. No news on the price or conditions of the sale, so we will keep our ear to the ground on that one.

The week’s Sanibel and Captiva Islands Multiple Listing Service activity follows a couple of news items below.

Sanibel Weather

remains delightful. It was 68 degrees when I headed to the office this morning, with a high in the upper 70′s expected both today and right through the weekend. Monday a little rain is forecast, bringing in a cool front. I still get tickled to say that a Florida cool front is when it drops into the low 70′s during the day. That is what the weather is expected to be by mid-week, just in time for 27th year of the Sanibel Luminary next Fri night (12/2). Luminary strollers like wearing scarves and Santa hats, with their shorts and flip flops, so the weather should be perfect for that. Captiva Luminary is next Sat night (12/3). Here’s a link to the Captiva Holiday Village events calendar. The holiday events have already begun!

Weekend Happenings

If you are out and about on the islands this weekend be sure to catch the Sanibel Masters Art Festival on the grounds of the Community House both today and tomorrow (Sat) from 9 a.m. to 5 p.m. The BIG ARTS Community Chorus is singing two mini-concerts from their holiday repertoire at the festival late-morning tomorrow. Plus Katie Gardenia, renown island baker, artist, and former owner of The Bubble Room, will be there autographing her new combo cookbook and coffee table book called “A Bubble Moment”. She will be selling her fabric sculpture and fabric art pieces too. www.KatieGardenia.com

Tomorrow night (Sat), there is a Livingston Taylor Concert at BIG Arts. When I stopped into the BIG ARTS office right behind my office, I heard there still are tickets. Livingston often hangs out at The Bean when he is in town, though I have not spotted him there yet this year. If you are a fan and are here, his concerts always get raves.

Sanibel City Council & Chamber of Commerce Host Resort Redevelopment Workshop

On Tues Nov 29 at 8 a.m., the Chamber in conjunction with the City will host a workshop at the Sanibel Community House to discuss resort redevelopment. The workshop is being held to help explain recent changes to the Land Development Code. As background, shortly after the incorporation of Sanibel in 1974, the Sanibel Plan created a resort housing district. This district included most of the resorts that then existed on the island. In 2010, City Council determined that there was a need to allow for the rehabilitation or reconstruction of these now aging resort housing district buildings. Most of these resort district properties are short-term rentals. Council considered their preservation to be in the interests of residents and businesses. Over a 12-month period, the Sanibel Planning Commission reviewed the Land Development Code in order to identify any necessary changes to enable progress toward these updating objectives. Specific recommendations for changes were developed, discussed in public meetings, and accepted by City Council in June.

HealthPark Medical Center

It is pretty common in the real estate business for those new to the area to ask us about the closest medical facility. In that HealthPark Medical Center, just off-island, recently turned “20″, it seems like a good time to provide an update of what is available close to Sanibel and Captiva Islands. Beginning in the mid-1980′s as a 120-bed satellite hospital for Lee Memorial Health System’s downtown Fort Myers campus, HealthPark evolved initially as a 220-bed medical center with a grand 4-story glass atrium and a location on a 400-acre planned HealthPark Florida campus that would offer services to the south Lee County community. It took four years to design, three to build. To ensure the new hospital’s success and to ease challenges at Lee Memorial downtown, pediatric, obstetrics, and cardiac care services were moved to this new facility. When the Medical Center opened in 1991, with it came a new era of medical care in Southwest Florida, often described as “ten years ahead of its time.” I have always been amazed with the bright cheerful atrium. Some say their initial impression is hotel, not hospital. How many hospitals have a grand piano being played in their lobby? fresh popcorn for visitors? and single-sized rooms equipped for overnight guests?

In 1994 the campus expanded to include The Children’s Hospital of Southwest Florida and an expansion in 2005 added medical surgery and critical care beds, upping the facility’s beds to 368. In 2013, the Center will continue to grow with a 6-story 148-bed children’s hospital which will also free up more adult cardiac beds. Like Children’s Hospital, the HealthPark campus continues to grow. Today, it is 85% built out and home to the Cypress Cove retirement and assisted living community, HealthPark Care Center, Lee Memorial Health Services Outpatient Services, the Ronald McDonald House of Southwest Florida, and other health-related facilities. A 3-story 78-bed private psychiatric hospital is under construction and shops and restaurants are staring to open in a new retail center too. Commuting time from SanibelSusan Realty to the hospital varies depending on the time of day and time of the year – but is under 30 minutes.

Sanibel & Captiva Island Multiple Listing Service Activity November 18-25:

 Sanibel

CONDOS

6 new listings: Captains Walk #A2 1/1 $179K, Sanibel Arms #G2 1/1 $460K, Loggerhead Cay #434 2/2 $625K, Tarpon Beach #104 2/2 $679K, Pelicans Roost #101 2/2 $809K, Signal Inn #18 2/2 $949K.

6 price changes: Tennisplace #C23 2/1.5 now $269.9K, Lighthouse Point #217 3/2 now $392.5K, Lighthouse Point #230 2/2 now $495K, Snug Harbor #311 2/2 now $589K, Kings Crown #211 3/2 now $699K, Pointe Santo #B45 2/2 now $730K.

2 new sales: Sundial #C208 1/1 listed for $298K, Gulfside Place #104 3/2 listed for $1.195M.

No closed sales.

HOMES

5 new listings: 967 Beach Rd 2/2 half-duplex $575K, 1854 Farm Trail 3/2 $625K, 450 Sea Walk Ct 3/3 $649.9K, 5885 PIne Tree Dr 3/2 $699K, 6211 Starling Way 4/4.5 $2.495M.

6 price changes: 490 Old Trail Rd 3/2 now $449K, 1123 Sand Castle Rd 3/2 now $539.9K, 3861 Coquina Dr 3/3 now $749K, 1360 Eagle Run Dr 5/3.5 now $960K, 720 Periwinkle Way 3/35 now $1.497.5M, 1290 Isabel Dr 6/4 now $2.49M (short sale).

3 new sales: 9248 Belding Dr 3/2 listed for $269K, 436 Glory Cir 3/3 listed for $549.9K, 1287 Par View Dr 3/2 listed for $774.9K.

No closed sales.

LOTS

1 new listing: 1594 Century Ct $139.9K.

No price changes or new sales.

1 closed sale: 3001 Poinciana Cir $139K.

Captiva

CONDOS

1 new listing: Marina Villas #807 2/2 $630K.

2 price changes: Tennis Villas #3224 1/1 now $260K, Marina Villas #603 2/2 now $540K.

No new sales.

1 closed sale: Bayside Villas #5330 3/3 $550K.

HOMES

1 new listing: 16891 Captiva Dr 3/2 $1.389M.

3 price changes: 11490 Dickey Ln 3/2 now $875K, 11521 Wightman Ln 4/3 now $1.495M, 15009 Binder Dr 4/5.5 now $3.95M.

No new sales.

1 closed sale: 16891 Captiva Dr 3/2 $1.15M.

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.

Hope you all are enjoying those turkey sandwiches…until next week…SanibelSusan