Housing affordability hovers near record level

August 22, 2011 – Aug. 22, 2011 – Nationwide housing affordability during the second quarter of 2011 hovered for the 10th consecutive quarter near its highest level in the more than 20 years, according to National Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI).

According to the HOI, families earning the national median income of $64,200 could afford 72.6 percent of all new and existing homes sold in the second quarter. The affordability measure dipped slightly from the record high of 74.6 percent set in the first quarter, but it remained above the 70 percent threshold initially achieved in the first quarter of 2009.

Foreclosure activity falls to 44-month low

Foreclosure activity fell 35% in July compared to last year, hitting a 44-month low, according to foreclosure data firm RealtyTrac. The number of foreclosure filings – which includes default notices, auctions and bank.

Fiserv Case-Shiller Home Price Insights: Despite Recent Declines, Home Prices Expected to Stabilize Across U.S. by Early Next Year

·    Housing affordability back to pre-bubble levels with average homes now only 5 percent more expensive than in 2000

·    Home prices projected to dip further in 2011 and begin modest appreciation in 2012

·    More than 95 percent of all metro areas are projected to rise by Q1 2013

Offshore investors snapping up Florida real estate

By The Associated Press Copyright 2011 . All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
MIAMI -- Offshore investors are flocking to Florida's distressed real estate prices as major companies with ties to Hong Kong, Spain, Argentina and Malaysia are snapping up properties sensing the local market has bottomed.

International companies can park their investment and position themselves for the next development cycle, said Tere Blanca, president and chief executive officer of Miami-based Blanca Commercial Real Estate.

"Acquiring prime properties at discount prices in the height of the market was not achievable. Whomever has deep liquidity and can be nimble and act when opportunities arise can acquire properties at what we consider to be solid pricing," he said, according to the Daily Business Review.
Stephan Gietl of Austria and his partner Fernando Levy-Hara, of Argentina, have purchased 307 South Florida condo units for $40 million, since 2009. The duo has sold most of the units, mainly to international investors. Levy-Hara says the units yield between 5 and 6 percent profit per year after maintenance fees and property taxes.

"With the potential appreciation, if you're buying at half the price of the bubble, you have the potential to go up 60 to 70 percent in the next five years," he said.

As Americans worry about the economy and debt ceiling, international investors still perceive the U.S. as "the most reliable country in the world," said Andrew Hellinger, chief executive of Coral Gables-based Hellinger & Penabad.

"We are a country where you can place your money for investment and know it's safe."
South Florida's most notable recent deals have ties to investors with connections to major international companies.

Swire Properties, part of Hong Kong-based real estate and airline owner Swire Pacific, bought 2.15 acres in Miami at $14 million, along with the $13.1 million acquisition of Eastern Bank's headquarters.
In May, Malaysia-based Genting Group paid $236 million for the Miami Herald's headquarters. Genting, which also owns 50 percent of Norwegian Cruise Lines, plans to build nearly 7 million square feet of hotel, convention and restaurant space. Genting executives cited Florida's growing population, budding Miami tourism and a likely nonstop flight from Asia to Miami International Airport as motivating the deal.

Agave Holdings, with ties to the owner of Jose Cuervo tequila, paid First Bank Puerto Rico $30.55 million for a project in Coral Gables.

Espacio USA, the American arm of Spanish real estate company Inmobiliaria Espacio, is about to close on its second office building. The company paid $31.52 million for another office building last year, with renovations running more than $1 million.

Brazilians have led the Miami condo market resurgence, accounting for 9 percent of unit purchases among international buyers of Miami single-family homes and condos, according to the Miami Association of Realtors.

"The feeling in Brazil is certain aspects of their real estate and economy make U.S. real property a relative bargain," said Richard Goldstein, of Bilzin Sumberg. "In other countries like Venezuela, the currency is not as much of a factor. Political instability is a factor; they want a safe haven for their money."

Getting Your Bearings

Sanibel & Captiva Islands are located off the coast of southwest Florida, just west of Fort Myers, Florida.

Sanibel Island measures roughly 12 miles long and three miles across at its widest. Little sister Captiva Island has more compact measurements of approximately four miles long and ½ mile wide.

-- The toll to cross the Sanibel Causeway onto the island is $6 per car; there is no toll to return to the mainland. Frequent visitors may want to opt for the transponder program, which works on a debit account system and offers discounted tolls of $2 per trip (plus an upfront charge for the transponder). For more information, contact the LeeWay Service Center at 239-931-0100. For local Taxi service click here.

-- Make the Sanibel and Captiva Islands Chamber of Commerce Visitor Center your first stop. You’ll find us in a colorful island-style building on your right-hand side immediately after you drive onto the island on Causeway Boulevard. Open 365 days a year, our staff is here to answer all of your questions and make you feel at home. For more information, call us at 239-472-1080.

-- Sanibel Island has two main roads that parallel each other. Periwinkle Way, located at the four-way stop immediately past the Visitor Center, is the main thoroughfare. West of the causeway, it leads to the island’s shopping and dining district. Follow it east and you’ll pass a quieter commercial section, ending up at the Sanibel Lighthouse and its beach. Gulf Drive, the other main route, roves past resorts, beaches, and homes at the water’s edge. It is segmented into East, Middle, and West Gulf Drive.

-- Periwinkle Way links, via Palm Ridge Road or Tarpon Bay Road, to Sanibel-Captiva Road, which continues on to Captiva Island. Known locally as “San-Cap,” the road passes by most of Sanibel’s natural attractions, including the J.N. “Ding” Darling National Wildlife Refuge, the Sanibel-Captiva Conservation Foundation Center (SCCF), the Bailey-Matthews Shell Museum, and the Clinic for Rehabilitation of Wildlife (C.R.O.W.) facility.

-- Captiva Island is connected to Sanibel by San-Cap Road. Once you cross the short bridge at scenic Blind Pass, the road becomes Captiva Drive. Follow it north and you’ll find two public beach accesses, plus restaurants, shops and resorts.

Beaches on Sanibel and Captiva

Where are the Beaches on Sanibel and Captiva?

Sanibel is one of the unique barrier islands of the world, having an east-west orientation when most islands are north-south. Hence, the island is gifted with great sandy beaches and an abundance of shells. Check out the Sanibel Shelling Center for information on the islands beaches and seashells.

There are a few rules that keep our beaches pristine. Pets on Sanibel Island must be leashed, and should be cleaned up after. Captiva beaches do not allow pets. Alcoholic beverages are prohibited November through May. No open fires and no collecting of live shells please. Click Here to see the 5 reasons to leash your dog.

Basic restrooms are located at all public beach accesses. Some have picnic tables and showers, all have free handicap parking. Parking at Sanibel Island and Captiva Island public beaches costs $2.00 an hour, Cash and credit cards are accepted. Paid parking tickets are not interchangeable between Sanibel and Captiva.

Causeway Beaches

Great for swimming, fishing, windsurfing and picnicking. Pull your vehicle right to waters edge. There is no fee when you park on the causeway beach. Located along both sides of the road. Restrooms are available.

Lighthouse Beach & Fishing Pier

This is the site of our historic functioning lighthouse. Located on the eastern tip of Sanibel, wrapping around to the bay side. This is where the t-dock-fishing pier is and a boardwalk nature trail winding through native wetlands. Turn left on Periwinkle Way from Causeway Road.

Gulfside City Park

Picnic tables and seclution welcome you, located mid-island on Algiers Lane off Casa Ybel Rd. Mid Island

Tarpon Bay Beach

Easy parking for recreational vehicles, and a short hike from the parking lot to the beach. Located at the south end of Tarpon Bay Rd. at West Gulf Drive. Mid Island

Bowman's Beach

Pristine and quiet, you won't find any hotels here. Park and walk over a bridge to secluded white beach. There is an outdoor shower located at this beach. This is the only beach with barbecue grills. Located off Sanibel-Captiva Rd., turn left on Bowman's Beach Rd. Up Island

CAPTIVA

Turner Beach (Blind Pass)

Located on both the Sanibel and Captiva side of the Blind Pass Bridge, this beach is popular with shellers and fishermen. Signs warn against swimming because of the swift currents. Located on Sanibel-Captiva Rd. at Blind Pass Bridge. No restrooms on the Sanibel side.

Captiva Beach

A great place to watch the sunset. There are no restroom facilities here and parking is very limited. Located at the end of Captiva Dr.

Alligators

The biology of alligators is an ancient tale of survival. Florida’s history of gators and humans is closely intertwined. As Florida’s population and developed areas have grown, human/gator encounters have increased. Lakes dug during the development of Florida subdivisions have invited alligators into our backyards. Learning to live safely with these fascinating reptiles ensures our safety and their survival.

LIVING SAFELY WITH ALLIGATORS

• DO NOT FEED GATORS... REPORT TO THE POLICE ANYONE WHO DOES. Although humans are not generally viewed as prey by alligators, a fed gator is taught to see humans as food.
• KEEP CHILDREN AND PETS away from edges of lakes, ponds, rivers, canals, and all freshwater. It is never safe to play near freshwater in Florida. Alligators do not live in saltwater but are occasionally seen swimming there especially in times of drought.
• NEVER SWIM IN FRESH WATER IN FLORIDA EXCEPT IN DESIGNATED AREAS. The majority of the few human deaths from alligator attacks in Florida were people swimming where they should not have been.
• BINOCULARS ARE THE SAFEST WAY TO OBSERVE ALLIGATORS. Approaching closer than 20 Feet is risky. In the blink of an eye, an alligator can jump 6 feet into the air from a resting position and run extremely fast.

NEIGHBORHOOD ALLIGATOR WATCH

As a homeowner, renter, and/or member of a local homeowner association, here are other ways for you to keep your neighborhood safe for humans as well as alligators:

• Become the NEIGHBORHOOD GATOR GREETER - Make alligators a topic of conversation with your neighbors …especially renters and new homeowners. Encourage them to talk to you about the alligators they have seen. Help them figure out if the gator they saw was a gator being a gator or a gator displaying behavior dangerous to humans.
• Let your lawn care and other workers know they will lose their jobs if they feed an alligator. Encourage them to report problem gators for the safety of all.
• Fence all neighborhood pools to keep gators out.
• Keep fenced areas for dogs away from the water.
• Post gator caution signs on waters edges.
• Place alligator educational packets in all rental units.
• Mowing grass to water edges invites gators to bask…instead plant a vegetation buffer to keep gators by water edges. Call SCCF (472-2329) for help with this.

Sea Turtle Update

Sea Turtle Research and Monitoring

	Sea Turtle Nesting Stats As of August 5, 2011
		Nests	False Crawls	Hatches
	Sanibel East End	35	83	11
	Sanibel West End	237* **	355	67* **
	Captiva	76	54	36
	TOTAL	348	492	114

Click here for PDF with statistics for the nests that have hatched this year on Sanibel (Captiva numbers will not be available until the end of nesting season).

Most nests on the islands are Loggerhead. However, this year we have one Kemps Ridley** and five Greens * included in the totals above. Read about the Kemp's Ridley.

Please do not disturb nesting sea turtles. There have been reports of several nesting attempts disturbed by onlookers. If a turtle fails after several nesting attempts, she will eject her eggs into the Gulf, so failed attempts -- false crawls -- are serious.
Click here for more info.

Time to Buy That Vacation Home

The clouds hanging over upscale vacation-home markets are starting to lift. While prices are still falling in most regions, the luxury segment is picking up, and brokers are reporting more inquiries than they have had in years.

The upshot: If you have the money and plan on staying put for the long term, now may be a good time to buy.

Five years after housing's peak, markets that once were out of sight even for well-heeled buyers are now in range. On Hilton Head Island, S.C., a three-bedroom home nestled between the Atlantic Ocean and Calibogue Sound changed hands in April for $750,000, after having sold for $1.2 million in June 2006. In Vail, Colo., a three-bedroom home that fetched $3.3 million in 2008 sold in February for $2.5 million.

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COMING

Overall, the median second-home price was $150,000 in 2010, down 11% from 2009 and roughly 25% from 2006, according to the National Association of Realtors. That isn't pretty, but it is only slightly worse than the 22% drop for the overall housing market. The higher end of the market—homes in the $5 million-plus range—has held up better, says Douglas Duncan, chief economist at Fannie Mae. "At the top of the market, particularly luxury homes, prices have proven very elastic, and have sprung upward quickly," he says.

Buyers are taking heed. On Palm Beach Island, Fla., sales were up 50% in the year ending June 30. Transactions in the Hamptons, on New York's Long Island, jumped 59% in the second quarter from a year earlier. In Aspen, Colo., sales for the year ending May 31 were up 10%.

The number of people looking at properties is up as well: In Vail, Hilton Head and Palm Beach, foot traffic has jumped by at least 30% this year, according to local real-estate agents. "People have frugality fatigue," says John Burns, president of John Burns Real Estate Consulting Inc. in Irvine, Calif.

Great Home, Great Location

1765VenusDriveFinal1.1.mov

WOW! Only three houses from San Carlos Bay and a long view of the canal. This home is truly the essence of "living the Sanibel lifestyle" ! Come see this immaculate three bedroom and three bathroom masterpiece featuring a soaring 2 story living room and a wonderful master suite. An open and airy floor plan and water views of both the Bay and canal bring the outdoors inside. Boating enthusiasts can moor a large craft at the extended dock and keep their pleasure or fishing boat on the 10,000 lb lift. Watch dolphins and manatees frolic, and catch snook, snapper and redfish in the wide canal in front of your new home. Enjoy Sunrise and the Sunset from your glassed in lanai and dock

 http://www.youtube.com/user/teampetel

Shellabration 2012! is an islandwide, week long celebration of the Sanibel Shell Fair and Show, designed as a tribute to the island's shell bounty. The celebration will run from February 26 through March 4, with the shell fair and show running March 1 to 3 at The Community House. Shellabrators from around the island are joining in on the excitement with events and promotions. Everybody is invited to participate. A calendar of events will be prepared and promoted in local and national publications. Below is current list of Shellabrators!

• Amy's Something Special, 630 Tarpon Bay Road, is going to offer a 15 percent discount on locally made shell pendants wrapped in sterling silver.
• BIG ARTS will be participating with a shell-theme art exhibit in the Theater Lobby Gallery February 26 through March 4.
• Billy's Bike And Rentals, will be giving all customers (on-line and in-store) a raffle ticket for a chance to own a signed Shellabration poster designed by artist Pam Brodersen
• Sanibel Historical Museum will have several shell collections on display throughout Shellabration week inside the Rutland Home, Burnap Cottage, Morning Glories and the schoolhouse. In addition, there will also be a shell collection from Thomas Edison with a letter to authenticate it from Mina Edison.
• Great White Grill has created its own microbrew, Shellabraton Beer, to be available during Shellabration week.
• She Sells Sea Shells will be running two promotions during Shellabration week: 25 percent off craft supplies including wood and paper mache boxes and frames, many other paper and wood items, glue, glaze, glitter, glass jars and mirror backs; Sailor's Valentines priced at $275 will be reduced to $75.
• The Sanibel Public Library will have a shell book reading and fossil shell displays featuring 120 different species as old as 5 million years. Some of the shells are extinct and some are found at the beach today. The fossils are from the Burnt Store area is in North Fort Myers. For 10,000 years the area has been dry land. Before that, during the Pliocene and Pleistocene eras it was at times a shallow bay of what is now the Gulf of Mexico. When stockpiling this fill on the Library building site in the early 1990s, the material was observed to be full of marine fossils, evidence of the abundant life of the ancient sea.
• A Shellabration necklace will be offered for sale at various venues around the island. It will allow for creative additions to make each one as unique as its owner.
• Children's art, The children of the island will be invited to get involved by creating a special Shellabration! work of art.
• An attempt to break a Guiness Book of Worlds Records with the Sanibel Stoop will take place Friday, February 17.
• Opening Gala at Traditions, Sunday February 26.
• Fashion show luncheon at Sweet Melissa's featuring one of a kind shell adorned garments.
• 75th Shell Fair and Show, Thursday March 1 to Saturday March 3.
• Rusty Brown presents In Celebration of Ann Morrow Lindbergh, followed by a traditional ice cream social.

For more information on how you can Shellabrate, contact Billy Kirkland at 472- 5848, Barb Harrington at 472-2783, or Jill Kobe at The Community House at 472-2155 or via email at jill@sanibelcommunityhouse. net.

Sanibel Ding Days Photo Contest Entries Sought

July marks the opening of the 24th annual "Ding" Darling Days Amateur Nature Photography Contest. The contest, sponsored by the "Ding" Darling Wildlife Society-Friends of the Refuge (DDWS) and held in conjunction with "Ding" Darling Days, October 16 to 22, honors the birthday of Jay Norwood "Ding" Darling, one of the foremost conservationists in American history.

He was the driving force behind the eponymous J N "Ding" Darling National Wildlife Refuge. Deadline for submission is 4 p.m. on September 15. For an entry form and other contest information and rules, log on to www. dingdarlingsociety.org and click on Photo Contest, or contact DDWS at dingdarlingoffice@ yahoo.com or 472-1100, ext. 233. Winners will be announced and awarded prizes at Conservation Art Day on Saturday, October 22, during "Ding" Darling Days. Entries may be delivered in person to J.N. "Ding" Darling NWR or by mail to "Ding" Darling Wildlife Society, One Wildlife Drive, Sanibel, FL 33957 (attn. Gary Ogden). New this year: Entry fee is $25 per person. First, second, and third place winners and honorable mentions will be formally announced during the "Ding" Darling Day's weeklong celebration held in October. Cash prizes will be awarded. Photos may be used by the society in any way with appropriate credit. The three judges will be a refuge staff person, a professional photographer and a member of the Sanibel community.

To support DDWS and the refuge with a tax-deductible gift, visit www.dingdarlingsociety. org or contact Birgie Vertesch at 292-0566, 472-1100 ext. 4, or director@ dingdarlingsociety.org

Fla.’s existing condo sales, median price up in

ORLANDO, Fla., – July 20, 2011 – Florida’s existing condo sales

rose 8 percent in June with a total of 7,922 units sold statewide

 compared to 7,330 sold in June 2010, according to the latest hou

sing data released by Florida Realtors®. The statewide existing

condo median sales price last month was $94,100; a year earlier, it

was $92,300 for a 2 percent increase. The national median existing

condo sales price was $165,400 in May 2011, according to the

 National Association of Realtors® (NAR).

Sea Turtle Update

Sea Turtle Research and Monitoring

	Sea Turtle Nesting Stats As of July 29, 2011
		Nests	False Crawls	Hatches
	Sanibel East End	35	83	8
	Sanibel West End	235* **	349	40**
	Captiva	75	52	36
	TOTAL	345	484	84

Most nests on the islands are Loggerhead. However, this year we have one Kemps Ridley** and five Greens * included in the totals above. Read about the Kemp's Ridley.