Speaking with many of our visitors I've come to the conclusion that Sanibel Island is one of the best places to live! Year-round we have great weather and lots to do! Our friends from the northeast are still suffering and digging out from one of the worst winters on record, and we have quite a few visitors who have escaped from that mess. All I can say is "Welcome." And maybe it's time to take a look at some Sanibel Island real estate!
In my last few blogs I've been pointing out some of the fun upcoming events that residents and visitors can schedule into their time and I'd like to point out a few more.
Sanibel Island is in its "season," and this is a great time to be here. Lots to do, perfect weather, and smiling faces everywhere you look. Not to forget some of the best restaurants in Florida!
As for real estate, we have a full inventory of properties that are sure to fit your criteria. It can't hurt to take a look! You can even start online with my easy-to-use search feature. You can search by location, price, size, or any other criteria that fits your needs!
This is a quick list of our current listing numbers:
150 Sanibel Homes - starting with a 2/1 for $289,000
113 Sanibel Condos - starting with a 1/1 for $195,000
77 Sanibel Homesites - starting at $125,000
48 Captiva Homes - starting with a 3/3 for $1,099,000
39 Captiva Condos - starting with a 1/1 for $255,000
5 Captiva Homesites for sale - Starting at $850,000
Give me a call today and I can start the search for your home on Sanibel or Captiva island!
Sarah Ashton, Broker Associate
Royal Shell Real Estate
239-691-4915 Contact Form
South Seas Resort on the north end of Captiva Island is a favorite place for many, and overlooked by many others. The resort has over two miles of beach, a 9-hole golf course as well as a full service marina. There is also a "small boat marina" if you want easy access to your fishing boat. Professional guides for fishing/shelling/sightseeing are available upon request. The ship's store offers everything for your boating needs.
If tennis is more to your liking, there are the "Tennis Villas" with great views and easy access to the best tennis courts on the island! The resort has a total of 18 day/night courts.
Three huge resort pools will keep adults and kids busy for many hours. Some of the rental properties also have their own pools. The resort offers recreation activities and programs for kids, including a game room, video rentals, nature center, and bike rentals. Watersport programs are also geared for kids as well as adults.
I have a video below, and a webpage (here) showing much more about this fun area. There are many condo locations throughout the property and I'm sure I can find just the right property for you! We have listings at the Tennis Villas, Marina Villas, Gulf Villas, Bay Villas, as well as a few private homes for you to check out.
South Seas Resort is world famous for what it has to offer. If you are looking for a rental property that you can also use for personal use, you should check out this area. Captiva Island has some of the best restaurants and has never been overbuilt. It's truly a beautiful place for owners and visitors alike. I have a "Welcome to Captiva" video that's worth checking out on my "Captiva" webpage (Here), where you can learn more about the island, restaurants, and things to do.
I hope you enjoy my latest video below! South Seas Resort is a fun place to be and I would love to show you around! Give me a call today at 239-691-4915 or use my contact form. Our summer has been great and it looks like we have lots of potential buyers looking around. Call me today and let me show you why!
Sarah Ashton, Broker Associate
Royal Shell Real Estate
239-691-4915 Contact Form
We are halfway through the year and it's always fun to see how our sales stand up against the previous year. We just finished celebrating the 4th of July with hot dogs, burgers, and a great firework display over the water, so now it's time to settle in to work for the summer.
Traffic is much lighter than in our winter "season" but it looks like we are set for a fairly busy summer. People are looking at real estate and putting in offers, so it looks like we will continue our busy year!
This chart below shows how we are doing compared to last year;
What all this means is you need to start your search for the perfect property today! I can do all the footwork for you and only show you properties that fit your personal criteria. I'm a longtime resident of the islands and I promise you I will do everything possible to get you your own personal piece of paradise! Contact Me or give me a call at 239-691-4915 and I'll get to work!
This tip is not just if you are selling your home unfurnished, staging your home can be done with your existing furniture. When potential buyers are looking at homes, yours is competing with all the other homes in the area in that price range, and you want to maximize your home's appeal.
You want your home to look cozy and warm. Some think that your home will look more roomy if you push your furniture against the wall - Not true! You should position your sofas and chairs into conversational groups, and in such a way as to show an obvious traffic pattern. This will open up the room and make it seem larger to potential buyers.
You can also shake things up a bit. Just because you have your favorite armchair in your den doesn't mean it won't look better in the sitting area in your bedroom. Try to look at your furniture with a new eye. If you have that "one room" that seems to be the place that gathers your junk, take notice and clean it!
Try moving your lamps and home accessories to places that will open your home and make it appear more airy and comfortable to buyers.
You can also repurpose a room into something that will add value. Something as easy as putting a table and a lamp in a stairwell nook will transform the area.
Lighting is another issue that you can easily change. To create a warm look you can increase the wattage in your lamps. The rule-of-thumb is to try and get a total of 100 watts for every 50 sq. ft., and you shouldn't depend on just one lighting fixture per room. You should have three types of lighting: general overhead, under cabinet, and table/wall lighting. You will be surprised how much difference lighting will make.
If you decide to paint a few rooms, keep the living room/den in neutral colors. A potential buyer might not like your experiment with bright colors. Just remember that everything you do to your home is to appeal to buyers, not you or your family.
For your bedroom, add some luxurious linens with colors that make potential buyers feel comfortable and, hopefully, at home. Also, cleaning out your larger closets will show off your roomy storage areas, which helps sell houses!
My last posts talked about removing clutter, and curb appeal, and along with staging your home for a sale, all of it fits together to help your home stand far above your competition.
The real estate market is definitely picking up and your competition is doing all they can to get their home sold! I can help you with all your home selling needs and I am looking forward to helping you get your home sold fast, and for a good price.
If you are thinking of selling this year - It's Time To Call Me!
If you are thinking of selling your home, condo or homesite in the near future, NOW is the time to start the process. We all know our busy season is, well, busy, and it's by far the best time to list your property.
Our snowbirds start arriving next month and the trickle of owners and tourists turn into a flood of people as the weather up north starts to get colder. Our island traffic is always a good barameter of how our season is progressing.
Selling your home is a bit more of a process than just deciding to sell. My last few blogs have been about some of the things you can do to help get your home sold.
You can read Here about the importance of "de-cluttering" your home before potential buyers start showing up for a viewing. When someone shows up to look over your home, it's probably one of five or six homes they have viewed that week and you don't want your home to be remembered as the one with the kitchen crammed with clutter. Since you are planning on moving anyway, why not start the process of packing your "stuff" and getting it out of sight.
Another blog I wrote was about your curb appeal. You can check that one out Here. The first thing a potential buyer sees is the front of your home and your yard. Make sure it's cleaned up and in good repair. Drive up to your home and try and use a new eye and pretend you are a buyer. Look it over and see what sticks out. Does your front door need paint? The stair railing? Maybe a bird bath that hasn't looked good in years? Weeds around the driveway edge?
With just a little investment you can get your curb appeal in order and looking good! A few flowers, some paint, and some TLC will get your home in good order for a quick sale.
When I get a new listing I also get to work. I have a professional photographer come and take some great pictures for advertising (a de-cluttered home is a big help). I also have a virtual tour made of your home that will get posted with the listing for all island realtors (and public) to view. The tour is also easily viewed on public websites such as realtor.com. I send post cards about all new listings to island residents in the area and on my contacts list, and nice curb appeal really helps the post card photos pop!
My job is to sell your property and I take it very seriously. I am a long-time island resident and I understand this market and the challenges of buying, selling and building on our beautuful barrier island! Give me a call at 239-691-4915 or use my Contact Form, and I will get to work to get your property sold!
This is sure to be a busy season, so what are you waiting for?
Lots of visitors, and yes locals too, haven't ever taken the time to visit our neighboring islands. There are lots of ways for you to get to these great destinations and I'll get to that in a minute.
First (pictured to the right) is Cabbage Key! Always a favorite. This is a small back-bay island about 100 acres in size. There are a few walking trails, a water tower to climb, and a very famous and laid-back restaurant. One of the most interesting aspects of the restaurant are the thousands of dollar bills taped to the walls. Visitors are given a marker to sign their bills and tape to stick them anywhere on the walls where they can find space. The tape will hold the bill for a year or two and then the fallen dollars are donated to local charities.
Cabbage is a great location to make some memories, have lunch, and even stay the night if you want. There are only a few rooms to rent, but it's sure to be a fun stay!
Just a stones throw away from Cabbage Key is Useppa Island. Useppa is a private Club, but you can enjoy their restaurant and tour the island if you make prior reservations. You can also take one of the scheduled tour boats from Captiva Island to Useppa.
Another great destination is the next barrier island just to the north of Captiva Island, called Upper Captiva Island. Locals just refer to it as "North Cap." This island is three miles long, but only the northern mile has infrastructure to support a community. The electricity/phone comes from an underwater cable from Captiva, and has been run underground throughout this northern area. The island has four restaurants, a private air strip, and over 200 homes.
The most popular restaurant, which also has lots of dockage, is called "Barnacle's". Owners and guests get around on the shell roads by golf/electric cart. This magical island is worth a visit!
Just to the north of Upper Captiva, the next island is called Cayo Costa. Most of this island is a state park and there are no restaurants (or electricity) on the island. You can go to Cayo Costa and spend the day on the miles and miles of deserted beach, or you can rent a small cabin and spend the night... or week! It's a great getaway for your family and might be the perfect place to relax and just enjoy nature.
So now you have no excuse not to visit our local neighborhood of really cool islands! The above links will also direct you to sunset sails, shelling trips and fishing guides. Captain Mick Gurley aboard New Moon Sailing is also available for romantic sunset weddings!
I hope you enjoy our incredible island community, and as always, call me at 239-691-4915 or use my Contact Form to get started on your perfect island property. Homes, condos, homesites... I will help you find the perfect fit for you and your family!
Sarah Ashton, Broker Associate
Royal Shell Real Estate
Did you know you can take a quick tour of some of our favorite neighborhoods? I've been putting together web pages and videos of Sanibel and Captiva for you to enjoy as you start your search of island properties. Our summer weather is almost here and it's a great time to enjoy all the sights and fun things to do on the islands. Besides searching for your island home, summer is great for birding, fishing, shelling and just enjoying miles and miles of our word famous beach!
By watching these videos you can get an idea of what each neighborhood has to offer. I also have a web page for each area in my website's "Near Beach" section. It's a great place to start to explore our islands! I also have pages dedicated to the Lighthouse, Wildlife Refuge and a video tour of Sanibel's eastern end. As well as the information in my website, I'd love for you to use my contact form, or call me at 239-691-4915, so I can put together information for you for your perfect island property!
Herons Landing II
When you're looking for something to do this summer I can help you explore and learn about my favorite place, Sanibel Island. I'm a long-time resident of Sanibel Island, and I love to show off what these islands have to offer. Royal Shell Real Estate has offices on Captiva Island as well as Sanibel Island and I have access to every listed property! Call Me! 239-691-4915
Chateaux Sur Mer
It's June already and I'm getting ready for another busy summer. I am never too busy to help you and your family and friends with their island real estate! I'm looking forward do hearing from you and I hope you enjoy my video tours!
Sarah Ashton, Broker Associate
Royal Shell Real Estate
I just read an important article about changes coming to our island flood insurance programs. Written by the owner of Heidrick & Company Insurance and Risk Management Services, Chris Heidrick, he discussed many issues we need to know. Especially for older, ground level homes.
According to the article, "The most significant section of the act immediately eliminates rate subsidies on structures built prior to 1979 on Sanibel, and 1984 on Captiva, Fort Myers Beach and many parts of mainland Lee County. Rates for these structures have been artificially low since the inception of the NFIP in 1968. Premiums for these policies will increase from a range of $1,200 to $2,400 to at least $3,000 and in many cases to well over $10,000 per year. While the new rates have not yet been released, indications are available. Government and industry leaders all agree on the enormity of the increases."
This is news that all owners on Sanibel and Captiva need to be aware of. Mr. Heidrick continues, "Increases (will be) phased in over the next several years through annual increases of 20 to 25 percent per year. However, policies that were purchased on or after July 6, 2012 will require owners to obtain an Elevation Certificate and will be re-rated at the new, higher rate at the first renewal after Oct.1, 2013."
Our islands are in the flood plain that will definitely affect our future rates and availability. This is sure to have an impact on our real estate market.
Probably the best thing we can do is to contact our insurance representative and see how this will impact our individual properties.
To continue, "Any building that has been 'substantially improved greater than 30 percent of its fair market value' will immediately be subject to the new, higher rates. This threshold is lower than the "50 percent of fair market value" threshold that triggers conformance requirements under FEMA construction guidelines. However, if the improvement elevates the building above Base Flood Elevation it could result in a decrease in flood insurance premiums.
"Further, the practice of "grandfathering" will be phased out beginning in late 2014. Grandfathering allows a property owner to continue to pay lower rates after a revision to flood maps indicate an increased hazard for that property, saving some property owners thousands of dollars."
The article concludes, "For owners of properties impacted... there is one glimmer of hope that has recently surfaced. On May 7, 2013, Sen. Mary Landreiu of Louisiana introduced an Amendment to the Water Resources Development Act (WRDA) that would stop premium rate increases for NFIP coverage until FEMA conducts an affordability study and there is adequate time to act on the findings. Homeowners and citizens should contact Sen. Bill Nelson and Sen. Marco Rubio to express their concerns about Biggert-Waters (Flood Insurance Reform Act of 2012 ) and ask for support of Sen. Landreiu's Amendment to the Water Resources Development Act."
I think the bottom line is that we need to pay attention to the changes coming down the road. Our low lying islands are vulnerable to hurricanes and subsequent flooding, and we need to keep our flood insurance availability. It's key to our real estate market and our well being.
I'll be keeping a close watch on when and how these changes are implemented, so please contact me for more information. I'm a long-time island resident too, and this new policy will affect us all.
This week I would like to point out some of the fun and useful things that you can do with my website! From interesting facts about Sanibel and Captiva Islands to informative videos of our neighborhoods and condos, this is a one-stop site for all your island questions.
Captiva is world famous for its beaches, sights and quaint style and I'd love to be able to show you around!
If you want to search for properties, my site has the most modern and useful search engine you will find. You can search with whatever criteria you wish, or by map (left), or subdivision or condo. It's easy to use and you can save your searches and email your results to friends and relatives.
I even have a page of important numbers you might need when you decide to move to the islands.
As you drive around the island checking out which areas or condos look good to you, you can use my mobile site as you travel around the island. You can search properties with your smart phone or tablet as well as learn about the area and what it has to offer.
If you want to check out Sanibel before you get to the island, I have a couple of videos I made of the east end of the island. It's a great place to start! Click Here! I'm also proud of a video I have of one of Sanibel Island's most popular sites - The J.N. "Ding" Darling National Wildlife Refuge.
As for our local neighborhoods and condos, my condo page and neighborhood page have links to each area along with video tours of each area. This is a wonderful way to check out all the different areas of the island without leaving your home!
Each area has local information, an area map and virtual tour of the neighborhood or condo!
Is there such a place as "Downtown" Captiva? It's probably something I determined on my own, as I picture Captiva's Downtown only consisting of a couple roads and my office.
I consider Andy Rosse Lane to be the main road, even though you can walk its length in under 5 minutes. At the inland side of Andy Rosse we have the island's only stop sign, which also lends credibility to my determining the island's hub of activity.
Andy Rosse Lane consists of restaurants, homes, townhomes, our general store and some really interesting shops. From eclectic art to water sports activity, the shops along Andy Rosse will hold your interest for hours. When you finally make it to the western end and the beach, you can walk the secluded shores for miles.
On Andy Rosse there are currently three homes listed for sale. There is a 5 bed, 5 bath for $1,999,000, a 5/5.5 for $2,375,000 and a 4/4 for $2,395,000. All three of these listings are unbelievably beautiful and offer just about everything you would want! Privacy, while at the same time being located just a short walk to the beach and some of the best restaurants in Florida.
Across from Andy Rosse (through our stop sign) is Binder Drive and Old Lodge Lane. I also consider this to be in our "Downtown" area and another favorite part of the island.
On Binder Drive there are four homes listed - from a 4/2 for $949,000 to a 4/5.5 for $3,950,000, which is a unique bay front home that is surely one-of-a-kind!
Old Lodge Lane branches off of Binder but there are currently no listing on that short road.
Running parallel to Andy Rosse (the next road to the north) is Wightman Lane. Wightman doesn't have the shops or walking traffic that Andy Rosse does, but the homes are just as unique and worth a look. There are currently five homes available on Wightman starting with a 2/2 for $1,025,000 to a 5/5 for $1,795,000.
Captiva Island real estate listing are always changing and I would love to hear from you so I can tell you more about this incredible island! You can call me at 239-691-4915 or just use my Contact Form. You can also watch a video of Captiva on my Captiva Webpage, and also check out my Captiva Gulf Front home listing - a 4/4 with an incredible rental history!
So don't delay! Season is here and this looks to be a busy real estate year.
Is remodeling your home part of your Spring plans? It may be a good idea to check on the Return on Investment for home improvement projects, particularly if the projects are in advance of trying to sell your house.
Remodeling Magazine just came out with their top returning home improvement projects and they found that replacing the Entry Door (never diminish the importance of Curb Appeal) returned roughly 85% of the cost. Other more costly projects such as Re-siding the house or a total kitchen upgrade returned 79% and 71% respectively but may also provide more enjoyment if you are staying for a while.
To see what other types of improvements they cited as having a good return, Click Here!
Lots of new listings and things to know about our islands! Give me a call!
We can always tell when it's starting to get cold up north. Our traffic gets heavier and our resorts start to fill up. This is a great time of the year and it's also a good time to look at what's going on with our real estate market.
Currently we have 185 homes listed on Sanibel, starting with a three bedroom, two bath listed at $250,000 on San-Cap Road, up to a four bedroom, five and a half bath gulf front home listed at $5,495,000. On Captiva Island we have 36 homes listed, from a two bedroom, two and a half bath for $669,00, to an incredible seven bedroom, ten bath listed at $12,500,000. Between our two islands, and many listings, we certainly have just right property for you!
If a condo is more to your liking, we currently have 172 condos for sale on Sanibel. Condos start at a Colonnades one/one unit listed for $129,000, to a 3/4 at Sedgemoor listed for $2,999,900. There are also 54 condos listed on Captiva Island, starting with a 1/1 at Tennis Villas for $225,000 to a 3/3 Beach Homes listing for $2,280,000.
With all these great listings, and interest rates at historic lows, this is the time to get your piece of the Sanibel-Captiva lifestyle and put your footprints on the beach! All signs point to rising prices and an active season so this just might be the last chance to buy at the bottom of the market. We are starting to see homes and condos that are currently listed showing an increase in the listed asking price.
Since the first of the year we've had 152 home closings on Sanibel (avg. selling price of $781,368) and 134 Sanibel condo closings (avg. selling price of $566,057). For Captiva we've had 23 home closings (avg. selling price $1,423,906) and 31 condo closings (avg. selling price $842,242). This shows our islands to be very active in showings and sales! It also shows that this is a great time to put some thought into making Sanibel or Captiva your new home or get-a-way!
Even forgetting all the above statistics, our island lifestyle is always in demand, and of course, I would love to show you around! If you don't think it's quite time to start looking in person, or you are still up north, I can put you on my automatic notification system. If you let me know your criteria for what you might be interested in (price, size, home/condo, location, etc.) you will be emailed the listing details and photos whenever a new listing fitting your criteria becomes available! Easy as that!
Please contact me with any questions you might have about my island! Sanibel and Captiva offers lots to do and more to see and as an island resident, I can point you in the right direction!
Thanks for reading my Blog!
Instead of continuing to explore the various condos and neighborhoods on Sanibel, I thought I would just share some photos of a gorgeous day at Blind Pass! For those of you not familiar with the area, Blind Pass is located at the northern end of Sanibel and crosses over to Captiva Island.The pass has been dredged and opened recently and it is fantastic! It's a great place to shell, fish or just relax.
Blind Pass has always been a favorite spot for shelling. Or maybe just bringing your umbrella and a book for some first class relaxation! When lunchtime rolls around you just have a short drive to some of Captiva Island's famous dining locations - The gulf front Mucky Duck is always a favorite.
There are a few properties located near Blind Pass so if this looks like just the area for you, give me a call 239-691-4915 or use my contact form here. Autumn is a great time to check out properties and to have miles of beach to yourself.
I hope you enjoyed the photos of Blind Pass! You can see more of Captiva Island on my webpage, as well as watch a video! Captiva is always a fun time so when you get to the area I can help you with all the latest information on my islands!
Ok - time to take a look at January - June this year vs. last year.
The number of transactions are up in all categories on both Sanibel and Captiva Islands! The curiosity is that the price range of the properties that have sold is just slightly down from 2011.
I don't think that that will continue. As the number of transactions has increased, the inventory of properties has distinctly been reduced. With lower inventory comes price increases - albeit slowly. The low interest rates are continuing to help as well. Even with banks not wild about financing investment properties or requiring 30% deposits, many Sanibel and Captiva Island buyers are refinancing their primary residences at these reduced rates and using the capital to pay cash for their island purchases.
Which Sanibel neighborhoods and Sanibel Condos were the most active? The Dune neighborhood has had 14 closed transactions in the first 6 months of 2012. This is the greatest number of any other neighborhood on the island. The Sundial Beach and Tennis resort was the most active Condo complex on Sanibel with 17 condos sold for the first 6 months of 2012. These are pretty great numbers and speaks volume to the value buyers are feeling for Island real estate at this time.
Let me know if you have any questions or would like me to email you any additional information. You can contact me by phone - 239-691-4915 - or using my Contact Form.
Normally we judge the end of our tourist season by Easter, but that seems like it's not really the story these days. Sanibel and Captiva remain busy for quite a while longer, and then we switch to a "summer" tourist crowd who come here for the fantastic fishing along with all our fun summer events.
Since it's always interesting to see how our real estate market is doing, lets take a look at how we're doing compared to the same time period as last year.
This year from 1/1/2012 to 4/24/2012 we have had 65 home closings on Sanibel compared to 61 homes sold in the same time period last year. The average selling price this year is $806,262 and last year it was about the same at $805,225. Our listing price to selling price ratio for this year is 90% where last year it was 89%. It looks like we are neck and neck with our Sanibel home sales for the two years.
For Sanibel condo sales for the same period:
This year from 1/1/2012 to 4/24/2012 we have had 50 condo closings on Sanibel compared to 52 condos sold in the same time period last year. The average selling price this year is $621,734 and last year it was $695,197. Our listing price to selling price ratio for both years is exactly the same at 90%. These statistics show that condo sales are not quite as active as last year.
For a few more statistics, this year we currently have 233 homes listed on Sanibel along with 227 condos for sale. For the homes, prices range from $275,000 to $6,500,000. Condos range from $140,000 to $3,000,000.
Captiva Island currently has 51 homes listed and 57 condos. For the homes, prices range from $669,000 to $10,900,000. Condos range from $215,000 to $2,475,000.
This has been a fun and active season and I'd love to help you find just the right place! I have access to ALL the listings and since I'm an island resident, I can fill you in on everything you need to know abour our island paradise! You can call me at 239-691-4915 or use this Contact Form.
2011 is shaping up to be a much better year than 2010 with respect to Sanibel Island and Captiva Island real estate.
On Sanibel Island there have been a total of 271 houses, condos and lots sold thus far in 2011 versus 219 for the same time in 2010. That is a 23% increase in total volume. The prices of the sold units are up as well. Houses, condos and lots on Sanibel Island have a low prices that are 0 - 15% higher than last year with many more properties over $1 million having been sold.
On Captiva Island there have been a total of 39 properties sold in 2011 versus 26 in 2010. This is a 50% increase in volume. Prices on the top end have increased while some of the smaller properties have sold at a great value.
What is clear is that there will continue to be pressure on Sanibel and Captiva prices to hold or go up in the coming months based upon a greatly reduced inventory from last year. I have had several experiences this summer where my clients had properties sold prior to their being able to get an offer in. Additionally, the number of properties available to view and choose from was greatly reduced.
It is amazing where the prices of real estate on the Islands has gone. A few years ago a property on Roosevelt Channel sold for $3 - $4 million. Today - $1 - $2 million.
I just got a listing at 16891 Captiva Drive. It is a 1963 ranch cottage that is absolutely great! 3 Bedrooms, 2 baths - 1800 sq ft. and with a dock on Roosevelt Channel. Additionally it has a pool, tennis courts and deeded beach access directly across the road. If that isn't enough, it currently has weekly rentals that bring in $50,000+ per year. The listing price: $1,295,000.
This will be someone's chance to own paradise. Check it out on my website and let me know any questions you have!
Here is brief look back at the Real Estate on Sanibel and Captiva Islands through 2010
A total of 303 properties were sold on Sanibel and Captiva Islands in 2010.This is a 7.8% increase in the total sold in 2009.Sanibel saw the most activity in 2010 with 265 properties sold making a 10.4% increase in total sold from 2009.There were 124 Houses, 120 Condos and 21 Lots sold.The real story is the increase in Condo sales.In 2009 there were only 86 units sold on Sanibel and in 2010 there were 120.Condos are back!
Captiva continued its slide with only 38 houses, condos and lots sold with Condo sales increasing from 22 in 2009 to 26 in 2010.More evidence that Condos are back.
Prices pulled back in all segments on both islands during the first part of 2009.They seemed to stabilize toward the end of the year.The values are very good!
Property Sold on Sanibel Island in 2010
Homes:124 with prices from $190,000 to $3,275,000
Condos: 120 with prices from $160,000 to $2087,500
Folks who read my last Blog about Sanibel Island Real Estate were asking - what about Captiva Island Real Estate?
So here goes
For January through September 2009 versus January through September 2010 Captiva Real Estate differed greatly from Sanibel.
In all Captiva Island real estate categories - Houses, Condos and Land - the number of transactions is way down from 2009. For houses and condos, the prices are down as well. Captiva has had an amazingly slow couple of years and the prices have continued to drop. As the stock market and the overall economy picks up, I believe that Captiva Island real estate will rebound.
Below are the 2009 figures followed by the 2010 figures.
As I said in my Sanibel real estate report - Is it a good time to buy - yes! With lower prices and low interest rates, it is a very good time to buy! Let me know if I can answer any questions for you about Island Real Estate
For as slow as March was, April has more than made up for it. Actually, for the first 4 months of 2010, Sanibel Island and Captiva Island have been busy. Sanibel Island has seen the inventory go down and the number of houses and condos sold and under contract go up! The prices, while still low, are holding a bit more than before. We have not started to see price increases and the number of price reductions has slowed. Below is a chart of the 2010 activity on both Sanibel Island and Captiva Island.
Activity - January - April 2010
Contact me if you would like additional information about what is going on in Sanibel Island and Captiva Island Real Estate.
My clients who are interested in Sanibel Island Houses for sale (vs. Sanibel Island Condos for sale) have asked me about the trend in prices and number of sales over the past 10 years. The findings are quite interesting.
As you can see from the statistics below - the average price rose right through 2006, however the number of homes sold actually started to decline in that year. Prices have continued to pull back and we are heading back to 2003-2004 levels.
In 2010 so far we are seeing a pace that matches or exceeds (we have 20+ houses under contract) last year's volume however the prices are lower. The upper end of the market is very weak and what is currently selling is our $500K - $800K properties. We expect that this will continue through 2010 and that recovery in the upper price range won't be seen until 2011 - but we'll see. If you would like more information about Sanibel Island real estate and Captiva Island real estate sales trends - drop me an email or call me.
Sanibel and Captiva Islands Remodeling:Cost vs Value
Are you thinking of making some improvements to your Sanibel Island or Captiva Island home in 2010?You might be interested to know that replacing your Front Door leads the way when it comes to return on investment.Replacing your entry door with a high efficiency door will cost roughly $1100 to purchase and have installed.The National Association of Realtor’s 2009 – 2010 report on Cost vs Value reports that the recouped value of that project will be about $1,470 or 129.9% of the cost! (Realtor Magazine, January 2010, pg. 22)
Not only does it speak volumes about the value of Curb Appeal, it also can save you $$ with a more energy efficient door.
2009saw the available inventory drop which bodes well for the prices holding steady.At the end of 2008 we had over 300 homes and 300 Condos for sale on Sanibel Island alone.This year the inventory is as follows:
Current Inventory on Sanibel Island January 1, 2010:
Homes – 263 priced $239,000 to $13,500,000
Condos – 262 priced $194,000 to $3,365,000
Lots – 115 priced $195,000 to $5,250,000
Current Inventory on Captiva Island January 1, 2010:
Homes – 78 priced $879.000 to $18,000,000
Condos – 73 priced $280,000 to $3,875,000
Lots – 12 priced $775,000 to $8,500,000
From 1/1/2010 thru 1/15/2010 there have been 8 properties that have closed on Sanibel and there are 34 properties under contract on both islands. If you would like more information about the current state of Island real estate, email me.
Wow! Has it really been a month since I last posted a blog entry???!!
Well, let's start with a brief look back on the Sanibel Island and Captiva Island Real Estate activity in 2009.
A total of 281 properties sold on Sanibel and Captiva Islands in 2009.Sanibel saw the most activity with 143 Homes, 86 Condos and 11 Lots sold.Captiva continued it’s sluggish pace from 2008 with 16 Homes, 22 Condos and 3 Lots changing hands.
Prices continued to pull back in all segments on both islands in keeping with the economy in general.The good news is that the prices of homes and condos appear to have found a floor.
Property Sold On Sanibel Island in 2009:
Homes: Prices ranged from a low of $285,000 to a high of $3,900,000
Condos: Prices ranged from a low of $175,000 to a high of $3,200,000
Lots: Prices ranged from a low of $175,000 to a high of $750,000
Property Sold On Captiva Island in 2009:
Homes: Prices ranged from a low of $800,000 to a high of $7,250,000
Condos: Prices ranged from a low of $246,000 to a high of $2,175,000
Lots: Prices ranged from a low of $1,325,000 to a high of $2,900,000
If you would like more detail on these statistics, let me know. In my next post, I will take a look at 2010!