The residential market (houses, condos, lots) on our island paradise is down a bit. Units sold are 14% behind last year (1stQ). Sanibel was down 15% while Captiva was down 7%. The structure of this 1st quarter performance is a bit odd. January was down 9%. February was down 43%. March was up 13%. This February aberration is probably due somewhat to coming off a very strong 4th quarter but mostly to the uncertainty early this year about the Iraqi action that started in March. We expect that the market will be on a positive path as the Iraqi situation and the economy stabilize.
They're up 4% during the 1st quarter(and up 24% without February. Sanibel shows a 7% decline while Captiva shows an astounding 83% growth on a much smaller base. Most of the gain in Captiva is probably due to sales in the Plantation. Three bedroom units continue to surge ahead representing almost all of the category growth. Two bedroom units are still the standard and running even. One
bedroom units are down.
Houses are 25% behind last year for the 1st quarter (they're about even without February). Sanibel unit sales are 19% behind last year while Captiva is down over 60%. The most negative performance is in the gulf and bay front properties. The least negative performance is in the homes away from the water - the inland and near beach homes.
The average sale price for houses is up only 4%, reflecting the lower unit sales for homes on the gulf and bay. The average sale price for condos is up 38%, reflecting the growth in three bedroom units. Average price for lots is up 11%.
Lots Are Still Quiet
Building lots are mostly concentrated on Sanibel with Captiva pretty much
tapped out. Lot sales are down 28% versus last year (1stQ) with not too
many left for sale. Inventory of lots for sale is currently under 100
as we move closer to island buildout.
Small Town Goin's On
With "season" over, we turn to the quieter summer activities
that will take place on paradise.
- Taste of the Island will be held on Sunday, June 1st.
- The 4th of July Parade will be on Periwinkle Way followed by a road rally and fireworks at dusk.
- BigArts will have several events. Go to www.bigarts.org.
- The Refuge and SCCF will revert to their summer schedules that provide plenty to see and do. Go to dingdarling.fws.gov and to www.sccf.org for details.
- If you go to the Chamber web site, www.sanibelcaptiva.org, and click on calendar of events, it will give you the complete skinny.
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In our constant search for useful information to make your life easier we report, each year, how much of the remodeling cost you will recoup if you then sell the house within one year. Remodeling Magazine reports the following national averages: | |
| Bathroom 94% Master BR 75% |
Basement 79% Kitchen 67% |
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| If you do an addition rather than remodel then the following is the recoup number: | ||
| Bathroom 94% | 2nd Story 94% | |
| Family Room 75% | ||
| So you readers who don't qualify for the Home Depot award can now start with some idea of what you'll get back. | ||
"Ding" Darling Info
The National Wildlife Refuge System has just celebrated its 100th Anniversary.
The folks at "Ding" Darling helped celebrate this occasion with
several local events and a trip to the Pelican Island refuge, the first
refuge in the country. It was established by Teddy Roosevelt. They have
also added several new
things that will enhance your visit:
- Three trams have been added to the fleet so that an hourly schedule can be made available to you.
- A 26-passenger pontoon boat is now operating out of Tarpon Bay. It
will show you the refuge from the water.
| For The Gardeners
You all know that there is a recycling center on Dunlop Road across from the library. But, what many of you may not know is that they have mulch for the taking. The Sanibel Public Works Department has been grinding up the yard waste collected by their recycling contractor and piling it at the recycle center - and the pile is getting real high. So, drop in and take whatever you want. It's free! |
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Slow Down! Maybe you should pay attention when driving on the Causeway. The Sheriff's Department has warned us that it will be patrolled seven days a week and 24 hours a day. OUCH!! They say the speed limit will be enforced. So, better stay off that phone and pay more attention. Watch that speed. |
| For The Music Lovers The Shell Point Retirement Community has announced that it will continue their 2003 Concert Series. They will be held on Friday evenings at 6:15 PM. Tickets will be made available by mail only. For more information about these concerts call 454-2282 |
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The Lee Memorial Health System has announced the opening of a new MRI Suite at HealthPark Medical Center. It will perform all MRI, MRA and cardiac procedures. This is good news.
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Talking About Health... We've been told that the Yoga with Pilates Class has resumed at the Community House. It will meet every Monday at 5:15. That's P.M. If you join, bring an exercise mat, towel or strap and water. The fee is $10.00 Good luck. This should get you back in shape. |
| Summer rental space is filling up pretty quickly - particularly with people now looking for domestic destinations. If you want help finding the right place on Sanibel or Captiva let Gopher Enterprises do the searching for you. We have years of experience in doing this; and we do it at no cost to you. Our web site will tell you all about us and how we can help you. Go to www.gopherrental.com or call us at 1-800-794-3107. |
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Don't forget the beautiful photographs of the islands we mentioned in our last issue. They are matted and ready for framing in two sizes: 12x18 or 20x30. You can order any of these lovely photographs directly from their websites. Just go to: www.sanibel-captivanaturephotos.com They have given fond memories of this beautiful island paradise to the many people who ordered them. Give a memory to yourself or someone you love.
If you're thinking of selling... Your listing should be here! Remember, timing is everything! Let my 27 years of extensive Sanibel & Captiva real estate sales experience work for you!
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Mosquito Warning! The state experts are saying it's likely that this year will be an early and tough mosquito season. So be careful. Get out that spray! |
Have you joined our BAP Program? Our Buyer Assistance Plan has been developed to give you market data via e-mail as quickly as it becomes available. We tell you about any properties that meet your criteria the same day it goes on the market. To join, fill in the enclosed card and mail it back to us. We'll do the rest. AND, don't forget you can now receive my newsletter via the Internet by going to my web site. Each quarterly issue will be posted as soon as it's available. No waiting for the mail. Get local information while it's still useful. Let us know if you'd like to join.
The SWFIA (our airport) has recently received two awards. The FAA recognized them for safety and awarded them the Air Carrier Airport Safety Award. They were also recognized for having perfect annual inspections for five consecutive years. These awards are very comforting to hear about in these days of turmoil.
If you want to be known as 'The Least Handy Husband in North America' then Home Depot can help you. While we're sure that none of our readers qualify, if you want to fake it, write why you deserve the title in 250 words or less. Entry blanks are available at your local Home Depot.
If you would like a FREE
market analysis of your property, fill in the coupon below and send to:
THE SCHULDENFREI REPORT.
Or, if you're in a hurry, call me at
800-553-7338 x 227
800-553-7338 x 227
Property address: ______________________________
Get key from:___________________________________
My name is: ____________________________________
Address: _______________________________________
City: _______________________ State: ___________
Zip___________
Put coupon in an envelope and mail to: The Schuldenfrei
Report, VIP Realty Group, Inc., 1560 Periwinkle Way, Sanibel, Florida
33957 [If your property is currently listed with another Realtor, please
disregard. ]
David Schuldenfrei Stands
Ready To Help YOU! For all your real estate needs, call me, DAVID
SCHULDENFREI! Whether you are buying, selling or renting property,
my 27 years of experience on this island paradise is ready to serve your
every need. Call, fax, e-mail or write me and I
will serve you with confidentiality, knowledge and experience.
OFFICE: (239)472-5187 ext. 227 • 1-800-553-7338 ext. 227
HOME: (239) 466-0514 • FAX: (239) 472-0996
E-MAIL: davids@schuldenfrei.com • www.schuldenfrei.com
will serve you with confidentiality, knowledge and experience.
OFFICE: (239)472-5187 ext. 227 • 1-800-553-7338 ext. 227
HOME: (239) 466-0514 • FAX: (239) 472-0996
E-MAIL: davids@schuldenfrei.com • www.schuldenfrei.com
YOUR BEST INTEREST
IS MY ONLY BUSINESS