The
Fall 2004
  Schuldenfrei
Serving
Sanibel &
Captiva for
over 28 years
 REPORT
About real estate on Sanibel and Captiva Going to 7,000 property owners and 12,000 Northern visitors.

David L. Schuldenfrei
CRS, GRI, RealtorŪ

Selling the Islands for
more than 28 years

YOUR PARADISE ISLAND IS OPEN!!!
It may be a little wobbly but it's open, doing business and it's still an island paradise. The storm left it's mark so, at first blush, the islands look pretty beat up. But, much of the damage to the island has been to the vegetation, changing the landscape dramatically. Fortunately many of the properties - both houses and condominiums - survived very well. The impact on the real estate market should be short term. The recovery process, which is well underway, should take only months, not years. In some cases it will take only weeks. We can all be thankful that the city was steadfast in defending their construction standards for it blunted much of the damage that might have been. They're to be congratulated for the job they did in managing both the pre-storm requirements and the post-storm recovery. It must have been difficult to deal with a frustrated and weary constituency. But Sanibelians are a hardy bunch that is grateful for their island and filled with hope and determination for it. If any of you want to get an update of the post hurricane situation just go to www.Sanibel-Captiva.org or www.Mysanibel.com.
   

THE REAL ESTATE
MARKET IS STILL GOOD

Up through the end of July of this year the real estate sales on Sanibel and Captiva were humming. They had unit sales that were over 40% ahead of last year. Then Hurricane Charley came and the islands shut down for a while. But even in the immediate aftermath of Charley there were sales being made. Some of them were from bargain hunters, of course. But most of them were from people who know Sanibel and Captiva and recognize that the essential nature of the islands hasn't changed; that their investment values will continue to grow. Confidence seems to be high. None of the property owners or buyers has hit the panic button. While nobody knows what the next two or three months will bring I'm betting that we will end the year ahead of last year even with the interruption caused by Hurricane Charley. To give you an idea of how realistic my expectations are here's what will be needed for the balance of this year.

HOUSES
(38% ahead of last year through July) will have to sell only 44% of last years volume for the August thru December period to equal annual sales for last year.

CONDOMINIUMS
(43% ahead of last year) will have to sell only 35% of last year. ...we will end the year ahead of last year.

 . . . we will end the year ahead of last year
LOTS
(53% ahead of last year) will have to sell only 36% of last year. This is hardly a major challenge. It can be done. In fact it can easily be done. I would urge anyone who is considering the sale or purchase of property on Sanibel or Captiva to follow their plan. The future will treat you well for your decision.

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