The
Fall 2009
  Schuldenfrei
Serving
Sanibel &
Captiva for
over 34 years
 REPORT
About real estate on Sanibel and Captiva Going to 7,000 property owners and 15,000 Northern visitors.
David L. Schuldenfrei
CRS, GRI, RealtorŪ

Selling the Islands for
more than 34 years

THE ISLAND REAL ESTATE MARKET
-   The real estate market on this paradise island continues to be confused. We have moved from an encouraging year in 2008 to a less than encouraging first quarter in 2009, a disappointing second quarter and then a measurable show of strength in the beginning of the third quarter. People just can’t seem to make up their minds. And that’s not necessarily a bad thing.  It indicates a fluctuating but relatively stable level of interest. This is confirmed by the growing number of people who are looking but just don’t take that final step. This growing interest in island property will certainly translate to a positive market movement. The question is not if, but when!

THERE ARE GOOD INDICATIONS
    There are good indications that the market is gaining strength:

  • Pending sales are gaining strength Homes that are near beach or inland are showing improvement.

  • Condo units with one or three bedrooms show a growing strength. 

  • Properties are selling in less time so buyers who do commit do so with confidence

    There are also external factors that point to a positive market direction for the islands.

  •   The weak dollar makes the islands very attractive to foreign buyers.

  • Financing is available and attractive.

  •  Canada, the Northeast and Midwest are showing relative strength – and they’re our biggest source of buyers.

"This growing interest in island property will certainly translate to a positive market movement.  
The question is not if, but when!"

WWDD? (WHAT WOULD DAVID DO?)
As we said in our last newsletter we continue to be very positive about the prospects for market growth on the islands. We believe that the turning point for the market has either already been reached or is close by. We currently are in a market that is about where it was back in 2001 – both in terms of volume and selling prices. So there is not a lot of room for more negative performance. And there are good reasons to feel so upbeat – in addition to the general up tick in the market conditions:   

- Retail sales are moving upward; 
- Confidence is up according the Conference Board and the University of Michigan ; 
- Consumer incomes are up while inflation is flat;
- There is an unmet need for that island property you have always wanted.

So, all in all, the conditions for growth are present and going in the right direction. When they are right for you call David and he will be there for you with advice and counsel.
 

SANIBEL HAS ANOTHER GOOD YEAR 

The city recently had an audit conducted by the auditing firm, Larson Allen, LLP. as part of an annual report. It covers the year ending September 30, 2008. We can all relax. The city came out clean, no hanky panky. Internal controls, grants and contracts each were reviewed and passed. In fact the audit firm said, “our report card on your financial condition is very good. It is the highest we can issue.” That’s a good job by the Island Finance Director. Financial integrity and strength is another reason to like Sanibel.

SCHOOL HELP
There have been some nice things done for our local school recently.

1.The Ding Darling Wildlife Society has announced it’s annual donation of five grants of $1000 each to Lee County schools – including Sanibel. All schools are invited to submit proposals for environmental education. The five winners can use the grant for conservation related projects – including teaching aids, books, classroom material and even field trips. Nice idea.

2. Sam Bailey has used the funds from the annual Island Night to give a check of $100 to each Sanibel or Captiva high school graduate. All island high school graduates are eligible for the checks. “It’s to wish them well and it helps pay for their books,” says Bailey.

TAKE A NAP
A private foundation, LEAF Ltd, wants to teach you how to sharpen your brain through sleep. They offer a course in how to improve the quality of your sleep and why sleep is necessary for your physical and mental health. Physical and mental well being are a signature condition of island life. So I don’t understand how a nap will improve it. But you never can tell. It may be worth a try. 

YOUR BRIDGE TOLL IS SAFE!
 The Lee County Department of Transportation recently presented a plan to the County Commission to consider an adjustment to the bridge toll structure so it would better meet bond requirements and expenses. The principal plan component was to eliminate the discount plans. I wonder if that would increase the toll? Hmm. Well, fortunately the DOT held public meetings on Sanibel and other bridge communities and, surprisingly, the public response was less then enthusiastic. So we are safe.

OFFICE: 239 472 5187 x227 • 1 800 553 7338 x227
HOME: 239 466 0514
FAX: 239 437-7543
E-MAIL: DAVIDS@SCHULDENFREI.COM
WEBSITE: WWW.SCHULDENFREI.COM
ADDRESS:       VIP Realty Group, Inc. 
                           1560 Periwinkle Way
                            Sanibel, FL 33957

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www.schuldenfrei.com • 800 553-7338 x 227 • davids@schuldenfrei.com