Sanibel Real Estate Blog: Seller’s Market Continues

November 30th, 2015

Lee County continued to be a seller’s market inOctober, but is slowing down slightly ahead of the upcoming holiday season.
According to the latest data released by Florida Realtors®, closed sales on Single Family Homes was up 1.6% year-over-year in October. There were 1,055 last month, compared to 1,038 in 2014. The Median Sale price jumped 14% from 2014 to 2015 from $184,175 to $210,000.
For Condos and Townhomes, Closed Sales were up 10% from 471 in October 2014 to 518 in 2015. The Median Sale price was up 6.4% to $173,450.
Both Active Listings and Months Supply of Inventory are down. Single Family listings dropped 10.3% year-over-year in October. Months Supply is down 21.6% 4 months, compared to 5.1 months in October 2014.
Both Single Family Homes and Condos/Townhouses continue to sell quicker than this time last year. Homes are spending a median 28 days on the market, which has dropped from 36 days in 2014. Condos and Townhouses spent a median 43 days on the market in October 2015 comparedto 53 in 2014, a drop of nearly 19%.

Maybe it is time to put that Sanibel real estate on the market! Check out our sales info on www.chuckandrews.com or give Chuck a call anytime at 239-849-3396 to discuss the Sanibel real estate market

Sanibel Real Estate Blog: Housing Crash Not Likely

November 20th, 2015

OK, keep in mind- we didn’t write this and the credit is below. Just thought it was blog worthy as we get this question a lot!

6 Reasons a Housing Crash is not likely:

NEW YORK – Nov. 20, 2015 – The 2006-2007 housing bubble happened almost a decade ago. Should Americans be worried that history could repeat itself? After all, home prices have risen above the bubble era in most areas of the country.

However, the bubble’s pain still stings, and many Americans worry that it could happen again. But housing experts say there are many reasons Americans shouldn’t be concerned about “Housing Crisis Part II” anytime soon, including:

1. Fixed-rate loans are more common. Many Americans have refinanced to a fixed-rate mortgage so when interest rates rise – largely predicted to start next month – there won’t be as much shock when short-term Adjustable Rate Mortgages readjust compared to the 2008-2009 era. In 2008-2009, many Americans saw their ARMs reset to a higher rate that they could no longer pay, which sent defaults skyrocketing.

2. Old distress is being flushed out through bank repossessions. Bank repossessions recently reached their highest level in more than two years. But the reason behind the climb is positive: Banks are flushing out long-term distressed properties rather than adding more.

3. Foreclosures have fallen dramatically. Despite the uptick in bank repossessions, the number of loans in foreclosures is 2.1 percent. That marks the lowest level since 2007, according to the Mortgage Bankers Association.

4. First-time buyer programs are bringing new clients into the market. In addition to new downpayment programs, the Federal Housing Administration moved this year to reduce its annual mortgage insurance premiums by up to $900 per year. That move alone has been predicted to help jump-start home sales by the most since 2006. What’s more, it could lure 140,000 new buyers to the market, according to the National Association of Realtors®.

5. The economy is strengthening. Over the past five years, the U.S. has added jobs at a steady rate, now replacing many of the jobs lost during the recession. Also, the quality of jobs is improving as the economy strengthens.

6. New-home construction remains dismal. The supply of existing for-sale homes is lower today than it was in 2000 – despite the population growing by more than 14 percent. Also, new single-family starts remain 60 percent below the peak in 2006 and are about 25 percent below the average for the past 15 years. An oversupply of the homes on the market isn’t likely any time soon.

Source: “10 Reasons Why Another Imminent Real Estate Crash Is Unlikely,” TheStreet.com (Nov. 10, 2015)

IF you are ready to jump in and buy some Sanibel real estate, check out our website at www.chuckandrews.com for all the Sanibel real estate listings or give us a call anytime to discuss!

Sanibel Real Estate Blog: You love Realtors!

November 12th, 2015

The National Association of Realtors®‘ (NAR) 2015 Profile of Home Buyers and Sellers indicates that 89 percent of sellers used real estate agents this year – an increase from 88 percent in 2014.

Meanwhile, 87 percent of buyers used real estate agents, one-percentage point lower than last year.

NAR and real estate professionals attribute the increased demand for agents in the digital era to a variety of factors, including:

  • Supply shortfalls. A lack of inventory makes home buying competitive, which prompts buyers to turn to agents for the inside scoop on homes coming to market and, when they do, to quickly write offers.
  • Data overload. Consumers also need agents to weed through vast amounts of data, when the info available online is often old or inaccurate.
  • Complex steps. The buying-selling process is now more complex, with longer contracts. More and more consumers start to realize that agents are better equipped to handle them.
  • Earlier connections. Real estate websites and online ads have contributed to the increase in demand for property professionals by helping consumers connect with agents earlier in the process.

If you need help navigating the Sanibel real estate market, check out our website at www.chuckandrews.com for new listing info or give us a call and let us do the Sanibel real estate search!

Sanibel Real Estate: Cape Coral rocks!

November 6th, 2015

To determine America’s best cities to live in, 24/7 Wall St. reviewed data on the 550 U.S. cities with populations of 65,000 or more as measured by the U.S. Census Bureau. Based on a range of variables, including crime rates, employment growth, access to restaurants and attractions, educational attainment, and housing affordability, 24/7 Wall St. identified America’s 50 Best Cities to Live.

According to 24/7 Wall St.:

Cape Coral, a city on Florida’s Gulf coast, is one of the best places to livein the country. One of the biggest draws to the city of roughly 170,000 people — apart from the beach-lined coast — is the city’s economic expansion. Between 2012 and 2014, employment grew by more than 10%, the fifth-largest growth of any U.S. city. Cape Coral’s violent crime rate is also half that of the national average violent crime rate of 366 incidents per 100,000 people. Though the cost of living is about 3% higher that it is nationally, the city’s poverty rate of 12.5% is lower than the national rate of 15.5%.

Sanibel is just around the corner and one of the premier beach locations in the area. If your Cape Coral venture finds you nearby and thinking of Sanibel real estate check out our website at www.chuckandrews.com or give us a call at 239-849-3396 to discuss Sanibel real estate.

Sanibel Real Estate Blog: Sept. home prices up for LEE

October 27th, 2015

Home prices soared in Lee and Collier counties in September, according to the latest stats number from our local real estate board.

In Lee County, the median price of a single-family home sold with the assistance of a Realtor increased 20.9 % from $175,000 to $211,578 between July 2014 and July 2015. Collier County saw an 18% increase from $318,000 to $375,000 in the same time period.

And how are we making out on Sanibel real estate? Year to date closed sales are up over 15% from 2014. There are only 8 homes for sale under $500,000. If you want to jump into the Sanibel real estate market, check out our listings at www.chuckandrews.com or give us a call to discuss the market anytime!

Sanibel Real Estate Blog: “Ding” Darling Days are Here Again!

October 19th, 2015

Ding Darling Days are back 10/18-10/25 at the Wildlife Refuge. There is the big 139th birthday celebration of Jay Norwood “Ding” Darling on 10/21 with free birthday cake for all.  Come and find out what the wildlife refuge is all about with all kind of special events this week: learn how to paddle board, do a sunset kayak tour,  or take a sealife and nature cruise. Find out why the Islanders love the refuge! The website has a full list of activities at www.dingdarlingsociety.org.

If a trip to Sanibel brings thoughts of Sanibel real estate ownership, check out our website at www.chuckandrews.com or give Chuck a call at 239-849-3396 for more info about Sanibel real estate.

Sanibel Real Estate Blog: CABBAGE KEY

October 12th, 2015

Cabbage Key Inn made the list of “super-remote getaways” from across the globe on oyster.com ( a website that hires investigators to stay incognito at hotels and evaluate them).


Cabbage Key is described on the website as a mid-range property offering 6 quaint rooms and 8 cottages on a beautiful, secluded island that is only reachable by boat. The 100-acre island is filled with nature trails and lush flora and fauna, as well as an on-site marina.

Cabbage Key is described by locals as a great place to stop for a rum punch and a burger while boating in the Gulf of Mexico.

If a trip to Cabbage Key has you thinking of Sanibel real estate, check out our website at www.chuckandrews.com or give Chuck Andrews a call at 239-849-3396 to discuss Sanibel real estate.

Sanibel Real Estate Blog: Farmer’s Markets reopen

September 30th, 2015

WE must be getting closer to season…. the markets are opening! Don’t miss out on all of weekly markets: Lakes Park opens Friday, Oct 2 and will be open every Friday, Florida Southwestern College will have weekly Saturday markets beginning  Oct 3.

Offerings include fresh local produce, cheeses, fresh pastas, seafood, baked breads, meats, herbs, organic veggies, flowers, soaps and even ready to eat meals.

Look for an announcement of the Farmer’s Market opening day on Sanibel, coming soon.

If traveling to the market bring thoughts of Sanibel real estate, check out our site at www.chuckandrews.com or give us a call anytime to discuss the market. 239-849-3396.

Sanibel Real Estate Blog: August Stats

September 23rd, 2015

The new stats for August sales are in and the median sales price continues to increase. Compared to August 2014, there was a 12% increase. The August median sale price was $ 205,000. ($182,500 last year).

The big story was on Ft. Myers Beach:  there was 60% increase in closed sales over last August.

We are still lacking in inventory, and so we saw 1025 closed sales in all of Lee for August, compared to 1039 last August.

If you have an interest in Sanibel real estate, or FT. Myers area real estate, give us a call or check out all area listings at www.chuckandrews.com

 

Sanibel Real Estate Blog: SONGWRITER FEST!

September 17th, 2015

Don’t miss out on the second annual Island Hopper Songwriter Fest taking place today through Sept. 27. The lineup includes some of Nashville’s biggest hitmakers with 70 performers, 138 performances and 24 venues.
In addition to performances on Captiva and Ft. Myers beach, downtown Ft. Myers has been added as a venue. Kristian Bush, Jana Kramer and LOCASH will be some of the performers. For a full list of performances, check out www.Islandhopperfest.com.

If your trip to beaches find you wondering about Sanibel real estate, check out our listings at www.chuckandrews.com or give us a call for an update on Sanibel real estate.