2012 Vacation Home Sales Up, Investment Dips but Stays Elevated, Prices Rise

CLICK HERE to contact John Petel and talk about your options for vacation and investment homes in SW Florida.

WASHINGTON (April 2, 2013) – Vacation home sales improved in 2012, while investment purchases remained elevated for a second consecutive year, according to the National Association of Realtors^®.

NAR’s 2013 Investment and Vacation Home Buyers Survey,* covering existing- and new-home transactions in 2012, shows vacation-home sales rose 10.1 percent to 553,000 from 502,000 in 2011.  Investment-home sales declined 2.1 percent to 1.21 million from 1.23 million in 2011, but those sales had been well under a million during the market downturn.  Owner-occupied purchases jumped 17.4 percent to 3.27 million last year from 2.79 million in 2011.

Vacation-home sales accounted for 11 percent of all transactions last year, unchanged from 2011, while the portion of investment sales was 24 percent in 2012, down from 27 percent in 2011, marking the second highest share since 2005. 

NAR Chief Economist Lawrence Yun said favorable conditions are driving second-home sales.  “We had a strong stock market recovery, which helps more people in the prime ages for buying vacation homes.  Attractively priced recreational property is also a big draw,” he said.

Yun notes an ongoing investor presence.  “Investors have been very active in the market over the past two years, attracted mostly by discounted foreclosures that could be quickly turned into profitable rentals,” he said.  “With rising prices and limited inventory, notably in the low price ranges, investors are likely to step back in coming years.”

The median investment-home price was $115,000 in 2012, up 15.0 percent from $100,000 in 2011, while the median vacation-home price was $150,000, compared with $121,300 in 2011, reflecting a greater number of more expensive recreational property sales in 2012.

All-cash purchases remain common in the investment- and vacation-home market: half of investment buyers paid cash in 2012, as did 46 percent of vacation-home buyers.  Forty-seven percent of investment homes purchased in 2012 were distressed homes, as were 35 percent of vacation homes.

Of buyers who financed their purchase with a mortgage in 2012, large downpayments remain typical.  The median downpayment for both investment- and vacation-home buyers was 27 percent, the same as in 2011.

Investment-home buyers in 2012 had a median age of 45, earned $85,700 and bought a home that was relatively close to their primary residence – a median distance of 21 miles, although 29 percent were more than 100 miles away.  Thirty-five percent of investment buyers purchased more than one property.

“Property flipping modestly increased in in 2012,” Yun said.  “However, this isn’t flipping in the sense of what took place during the housing boom.  Rather, investors generally are renovating and improving properties before placing them back on the market to resell at a profit.”

Six percent of homes purchased by investment buyers last year have already been resold, and another 8 percent are planned to be sold within a year.  In the 2011 study, 5 percent of investment homes were already resold, and 8 percent were planned to be sold within a year.  Overall, investment buyers plan to hold the property for a median of 8 years, up from 5 years in 2011.

Seventy-eight percent of all second-home buyers said it was a good time to buy, compared with 68 percent of primary residence buyers.  “This suggests that second-home buyers tend to be a step ahead of general buyers in sensing a market recovery,” Yun said.

The typical vacation-home buyer was 47 years old, had a median household income of $92,100 and purchased a property that was a median distance of 435 miles from their primary residence; 34 percent of vacation homes were within 100 miles and 46 percent were more than 500 miles.  Buyers plan to own their recreational property for a median of 10 years.

Lifestyle factors remain the primary motivation for vacation-home buyers, while rental income is the main factor in investment purchases.

Buyers listed many reasons buyers for purchasing a vacation home:  80 percent want to use the property for vacations or as a family retreat, 27 percent plan to use it as a primary residence in the future, 23 percent plan to rent to others and 23 percent wanted to diversify their investments or saw a good investment opportunity.

Fifty-five percent of investment buyers said they purchased for rental income, 30 percent wanted to diversify their investments or saw a good investment opportunity, and 20 percent wanted to use the home for vacations or as a family retreat.

Eleven percent of vacation buyers and 16 percent of investment buyers purchased the property for a family member, friend or relative to use, often for a son or daughter to use while attending school.

Forty-five percent of vacation homes purchased last year were in the South, 25 percent in the West, 17 percent in the Northeast and 12 percent in the Midwest.

Thirty-six percent of investment properties purchased last in the South, 28 percent in the West, 20 percent in the Northeast and 16 percent in the Midwest.

Forty-seven percent of investment buyers said they were likely to purchase another investment property within two years, as did 37 percent of vacation-home buyers.  Twenty-nine percent of vacation buyers said they were likely to purchase another vacation home within two years, as did 31 percent of investment buyers.

Approximately 42.8 million people in the U.S. are ages 50-59 – a group that dominated second-home sales in the middle part of the past decade and established records.  An additional 43.1 million people are 40-49 years old, which is the prime age for current buyers, while another 40.1 million are 30-39.

NAR’s analysis of U.S. Census Bureau data shows there are 7.9 million vacation homes and 43.7 million investment units in the U.S., compared with 75.2 million owner-occupied homes.

NAR’s 2013 Investment and Vacation Home Buyers Survey, conducted in March 2013, includes answers from 2,326 usable responses about homes purchased during 2012.  The survey controlled for age and income, based on information from the larger 2012 NAR Profile of Home Buyers and Sellers, to limit any biases in the characteristics of respondents.

The 2013 Investment and Vacation Home Buyers Survey can be ordered by calling 800-874-6500, or online at www.realtor.org/prodser.nsf/Research.  The report is free to NAR members and costs $149.95 for non-members.

The National Association of Realtors^®, “The Voice for Real Estate,” is America’s largest trade association, representing 1 million members involved in all aspects of the residential and commercial real estate industries.  For additional commentary and consumer information, visitwww.houselogic.com and http://retradio.com.  

^*Vacation homes are recreational property purchased primarily for the buyer’s (or their family’s) personal use, while investment homes are residential property purchased primarily to rent to others, or to hold for other financial or investment purposes.

http://www.realtor.org/news-releases/2013/04/2012-vacation-home-sales-up-investment-dips-but-stays-elevated-prices-rise

For Housing Confidence, Millennials Lead the Way

CLICK HERE to contact John Petel and talk about trends in SW Florida real estate.

DAILY REAL ESTATE NEWS | FRIDAY, APRIL 19, 2013

They might be thought of as a nomadic generation unwilling to settle down, but a recent study by Prudential Real Estate reports millennials are more confident than any other age group that the real estate market will soon recover.

“There was a lot of negativity when all the problems in real estate were happening,” says Earl Lee, president and CEO of Prudential, “but this generation was either too young or too preoccupied with school at the time to notice.”

According to the study, real estate market confidence declines steadily for each successive age group. Eighty percent of 25-to-34 year olds have confidence in the market’s future, compared with 73 percent of 55-to-64 year olds who believe real estate is rebounding.

“Gen X and Gen Y are not as clued in to some of the troubles their parents have gone through in exactly the same way,” Lee says. As these younger would-be home owners enter the workforce and interact with others who own property, their desire to purchase a house increases, he adds.

This could translate into a significant spike in home sales among millennials, which would be good for themselves and the communities where they put down roots, Lee says.

"All of the monumental events that happen in a young person's life start to focus them on real estate and what it has to offer," he says. "These young generations are now all about local involvement, and what better place to do that than in a community where you own a home?"

http://realtormag.realtor.org/daily-news/2013/04/19/for-housing-confidence-millennials-lead-way

5 Ways Sellers Can Prepare for a Home Inspection

DAILY REAL ESTATE NEWS | WEDNESDAY, APRIL 17, 2013

David R. Leopold, owner of Pillar to Post Home Inspection in Fairfield County, Conn., says home sellers and their real estate professionals have an important role in preparing for a home inspection to help ensure it goes smoothly. Leopold offers up some of the following tips in a recent article in RISMedia, including: 

1. Don’t hide what isn’t working: If an appliance isn’t working, leave a note that indicates what isn’t working and how you’re getting it fixed. Don’t try to conceal defects because it can make the inspector start to view you as dishonest and wonder what else you’re hiding. 

2. Make things accessible: Ensure the location of the attic and crawlspace are identified and easy to access. Don’t make a home inspector move your belongings in order to gain access. 

3. Check the lightbulbs: If a lightbulb isn’t working, the inspector will need to determine if the fixture is inoperable. Save them time by making sure all the lightbulbs in the home operate, including those in the crawlspace, attic, and furnace rooms.

4. Note septic systems: If you have a septic system in the yard, be sure to leave a sketch that includes the location of it. It’ll avoid home inspectors, buyers, and real estate professionals having to conduct prolonged searches for it, Leopold says. 

5. Keep appliances clear: Don’t leave dirty laundry in the washing machine or dryer because the inspector will need to test the appliances, and he doesn’t want to have to pull out dirty clothes in front of everybody, Leopold says. “Also, make sure your oven and stovetop are clear and clean, so we can easily test them without setting off the smoke alarm,” he adds. 

http://realtormag.realtor.org/daily-news/2013/04/17/5-ways-sellers-can-prepare-for-home-inspection

CLICK HERE to visit John Pete's website.

Good Housekeeping Photo Shoot Comes to Captiva

by Jeff Lysiak

For three days last week, the streets of downtown Captiva - already filled with its usual share of tourists - were joined by a team of models, photographers and a crew from Island Girl Locations & Productions, who were in town to shoot a fashion spread for Good Housekeeping magazine.

According to Stacey Stevens, a Sanibel resident and representative for Island Girl, the production incorporated various exterior locations along Andy Rosse Lane - including outside of Cantina Captiva, John Naumann & Associates offices and YOLO Watersports - as well as on South Seas Island Resort property. The locations were selected due to their bright, vibrant colors.

"This is our second year working with Good Housekeeping," said Stevens, who notes that in 2012, Island Girl arranged a photo shoot for the magazine down in Naples. "We got a lot of attention here in Captiva, since we were working right there on the street. Everyone gets excited when they see a production taking place."

During the photo shoot, which occurred from Monday through Wednesday, six female models were used. The images will be seen in the July and August 2013 issues of Good Housekeeping.

"Last year, the fashion photo spreads they did were four to eight pages," noted Stevens.

Island Girl Locations & Productions thanked Captiva business owner Sandra Stilwell for donating the use of a parking space on Andy Rosse Lane for their production trailer.

"There was a 20-person crew out here for several days. They ate all their meals out here, shopped out here, rented bikes and stayed out here through the entire photo shoot," Stevens added. "All of those people are contributing to the local economy, which is great for the islands."

Island Sun (April 19, 2013)

Paddleboard Classic races around Key West

Key West – Paddleboard and self-propelled watercraft enthusiasts are to circumnavigate the continental Unites States’ southernmost island during the 12-mile Key West Paddleboard Classic. The sporting challenge and its associated events, including a performance clinic and parties, are set for Thursday through Sunday, May 9-12.

The race around Key West is scheduled Saturday, May 11, and is open to paddlers on standup paddleboards, prone boards, outrigger canoes, dory boats, surf skis and kayaks.

Saturday’s racing action kicks off with a 7 a.m. registration and expo  opening. A 9 a.m. racers’ meeting precedes the 9:30 a.m. water start from Key West’s Higgs Beach, located on the Atlantic Ocean at 1000 Atlantic Blvd.

The course takes competitors past island landmarks, such as the Southernmost Point marker, Fort Zachary Taylor Historic State Park and Mallory Square, site of Key West’s nightly sunset celebration. Upon completing their circumnavigation of the island, racers finish at Higgs Beach.

Paddlers preferring a shorter course can compete in a four-mile open race scheduled at 10 a.m.

An awards celebration hosted by the Turtle Kraals Restaurant & Bar is planned at Key West’s Lands End Village, located at the foot of Margaret Street in the Historic Seaport, Highlights include acknowledgement of the top finishers, awards presentations, prize drawing for all participants, live music, food and drink.

Other weekend activities include a 5-7 p.m. meet-and-greet May 9 at Lazy Dog at Hurricane Hole Marina, 5130 U.S. Highway 1, and a standup paddleboard clinic set for 1-4 p.m. May 10 at Higgs Beach followed by a 5-8 p.m. kick-off party for all participants, live music, food and drink.

The classic concludes Sunday, May 12, with a Higgs Beach day featuring a kids’ SUP clinic and race, adult sprint races and a lively paddleboard relay for four-person teams.

Sanctioned by the World Paddle Association, the Key West Paddleboard Classic is a WPA Southeast Region national points race.

Event information and registration: www.keywestpaddleboardclassic.com

Island Reporter April 17, 2013

Saturday Evening Fun At SCCF

The Sanibel-Captiva Conservation Foundation (SCCF) is hosting its 2^nd annual Beer in the Bushes event this evening this Saturday, April 20 from 7 to 9 p.m. Tickets are $30 in advance or $40 at the door. There will be craft beer, barbecue, live music, dancing and games. Reservations and advance payment are requested by calling 472-2329.

Beer in the Bushes is sponsored by The Sanibel Captiva Trust Company. Local startup brewer Point Ybel Brewing Company, located just off island, will be introducing six brews: Endless Summer Pale Ale, Sanibel Red Island Ale, Sanibel Saison, Black Mangrove American Dark Ale, Snook Bite IPA and Brewers Choice.

Distributor Red White & Brew is presenting five additional beers from three craft breweries. From Belfast Bay Brewing Co. (Maine): McGoverns Oatmeal Stout and Lobster Ale; from Black Diamond Brewing Company: White Lightning; and from Full Pint Brewing Company (Pittsburgh): Jagged Edge IPA and Rampage Imperial IPA.

Food will be provided by Island BBQ. Thank to Jensen’s Twin Palm Marina and The Grog Shop for additional support.

Sanibel Double D will be providing alternative transportation and can be reached at SanibelDoubleD.com or at 472-3458.

Uproot Hootenanny is the featured entertainment and will bring their unique brand of fold, bluegrass, Irish and rock from the east coast.

Proceeds will help support SCCF’s mission of conserving coastal habitats and aquatic resources on Sanibel and Captiva and in the surrounding watershed.

Beer in the Bushes will be help on the grounds at SCCF’s Nature Center, 3333 Sanibel-Captiva Road on Sanibel, from 7 to (about) 9 p.m. Cost for this fun evening is $30 per person in advance; $40 at the door. Reservations and advance payment are requested and can be made until 11 a.m. on Saturday, April 20. Call 472-2329.

Island Sun (April 19, 2013)

Home listings: 20 seconds for love at first sight

March 25, 2013 – Researcher Michael Seiler tracked the eye movements of 45 people viewing 10 online real estate listings with six photos in August 2011, determining that 95 percent of participants viewed the first photo – an exterior property shot – for just 20 seconds.

The study is relevant because knowing how house-hunters view a listing online can help agents fine-tune their marketing approach. Founder and director of Old Dominion University’s Institute for Behavioral and Experimental Real Estate, Seiler says participants moved their eyes in a “Z” pattern from the upper left corner and after reaching the bottom right corner, they scanned up the right column of the screen.

After viewing the home-exterior photo, 76 percent looked at the property description; but 41.5 percent did not bother to ever read the agent’s remarks – which can be annoying if they include all capital letters, overhyped adjectives and brand names. Seiler determined that overall, participants devoted 60 percent of their time to photos, 20 percent to property descriptions and 20 percent to the agent’s comments; and he found that their interest diminished after clicking through numerous properties.

“You have to grab people’s attention within two seconds,” Seiler remarked. “Do it the way a billboard does.”

Some agents ensure the photos, property descriptions and remarks can be seen without scrolling; while others limit their remarks to only a few paragraphs and focus more on the lifestyle and neighborhood than appliances and other features.

Source: Florida Realtors: http://www.floridarealtors.org/NewsAndEvents/article.cfm?id=289116

U.S. home prices rise 8.1%, most since June 2006

March 26, 2013 – U.S. home prices rose in January at the fastest annual pace since June 2006, just before the housing bubble burst. The gain shows the housing recovery is strengthening ahead of the all-important spring buying season.

The Standard & Poor’s/Case-Shiller 20-city home price index climbed 8.1 percent in the 12 months ending in January. That’s up from a 6.8 annual gain in December. Prices rose in all 20 cities. Eight markets posted double-digit increases, led by a 23.2 percent gain in Phoenix. Prices rose 17.5 percent in San Francisco and 15.3 percent in Las Vegas, one of the nation’s hardest hit markets during the crisis.

Prices rose in 11 of 20 cities on a month-over-month basis. The monthly numbers are not seasonally adjusted and reflect the slower winter buying period.

The S&P/Case-Shiller index covers roughly half of U.S. homes. It measures prices compared with those in January 2000 and creates a three-month moving average. The January figures are the latest available.

Home prices nationwide are still 29 percent below their peak reached at the height of the housing bubble in August 2006. They are only back to where they were in August 2003.

Still, steady price increases should help make the housing recovery sustainable and add to economic growth. Higher home prices encourage more people to buy before prices rise further.

“Over time, persistently rising house prices also boost household wealth, make lenders more willing to lend because the asset they’re underwriting is appreciating, and ease pressure on local government budgets that get revenue from property taxes,” Jonathan Basile, director of economics at Credit Suisse, wrote in a research note.

Other recent reports have shown a strengthening recovery in housing, helped by near-record-low mortgage rates. Construction of single-family homes rose in February at the fastest pace in 4 ½ years. Sales of previously owned homes rose last month to their fastest pace in more than three years.

More Americans are putting their houses on the market, suggesting they believe the housing market will continue to strengthen.

The number of available homes for sale rose 10 percent last month, the first monthly gain since April. Even with the gain, the inventory of homes for sale was still 19 percent below a year ago.

Investment in housing, including home construction, contributed to the nation’s economic growth last year for the first time since 2005; from 2006 through 2011, a drop in housing investment dragged economic growth down.

Source: Florida Realtors  http://www.floridarealtors.org/NewsAndEvents/article.cfm?id=289164

Oster-Lympics Preparations Under Way

The Bailey-Matthews Shell Museum is finalizing preparations for the 4^th annual Oyster Eating Contest, part of the new and expanded event, now retitled Oyster-lympics 2013 to include an Oyster Shucking Contest, and Oyster Dive and other engaging and fun activities, all designed to help raise money to support the museum’s educational and exhibition programs. The event will be held on Saturday, April 20 from 11 a.m. to 2 p.m. at The Timbers.

The 3^rd annual Oyster Eating Contest last year was a huge success. Lamar Williams successfully defended his title to remain the King of the Mollusk Munchers. There was some drama involved. As Williams and fellow competitors Ron Clayton and Chuck Woods finished in a three-way tie with 48 oysters eaten in one minute – the same number that one last year’s competition. After a 30-second tie-breaker, Williams was declared the winner, having downed an additional 37 oysters.

There are several even sponsorship opportunities available. To learn more about sponsorships or to participate as a contestant, visit www.shellmuseum.org or contact John Suau at 395-2233 or info@shellmuseum.org.

Island Sun (April 12, 2013)

Earth Day At The Refuge

Talk trash, meet Bagzilla and create earth-friendly crafts at ths year’s Earth Day at JN “Ding” Darling National Wildlife Refuge on Sanibel on Saturday, April 20.

The refuge will celebrate the 43^rd anniversary of Earth Day in partnership with “Ding” Darling Wildlife Society-Friends of the Refuge (DDWS) and Tarpon Bay Explorers (TBE). The first 200 visitors to the refuge that day will receive a free reusable water bottle, courtesy of DDWS. Throughout the day, meet and greet “trashy” refuge educator Bagzilla, costumed in a year’s worth of an average person’s disposable bag consumption.

“We are gearing our activities for all ages,” said Ranger Becky Wolff,  refugee education specialist. “We’ll bring back our disposable bag-costumed Bagzilla character, and teach people how to make yarn out of plastic bags to weave into their own sturdy, reusable shopping bags.”

Below is the schedule for earth-friendly and free fun throughout the day:

Note: *Regular tram tour fees apply (buy tickets at booth in parking lot).

7 a.m. to 4 p.m. – Wildlife Drive is open free to bikers and hikers

8 a.m. to 4 p.m. – Free bike rentals from Tarpon Bay Explorers’ site (returns by 6 p.m.)

9:30 to 11 a.m. – Refuge Caravan Tour. Join naturalists as they guide you on a car caravan tour of the refuge’s four-mile Wildlife Drive. Meet at the flagpole

10 a.m. to 3 p.m. – Ongoing Earth Crafts in the Education Center Classroom

·         “Mother Earth” ornaments

·         Colorful plastic-bottle butterflies or jellyfish

·         Beeswax candles

·         “Plarn” (plastic bag “yarn”) bracelets

10 to 11 a.m. – Guide hike along Indigo Trail. Join a refuge naturalist as he/she leads you on a guided nature hike through the refuge’s Indigo trail. Meet at the flagpole.

*10 to 11:30 a.m. – Narrated refuge tram tour

11 to 11:30 a.m. – Reading in the Refuge: Family Story-time about sea turtles (Education Center Auditorium)

*11:30 a.m. to 1 p.m. – Narrated refuge tram tour

Lunch on your own

Noon to 12:30 p.m. – “Let’s Talk Trash” Marine Timeline Competition for Kids. How long does it take that trash to biodegrade in a marine environment (Education Center Auditorium)

1 to 1:30 p.m. – Reading in the Refuge: Family Story-time about Florida manatees (Education Center Auditorium)

*1 to 2:30 p.m. – Narrated refuge tram tour

2 to 2:30 p.m. – Make Your Own Plarn – Plastic bag overload? Learn how to make “plarn” (plastic-bag yarn) and weave reusable shopping bags that are 10 times stronger than regular plastic bags (Education Center Auditorium)

*2:30 to 4 p.m. – Narrated refuge tram tour

*4 to 5:30 p.m. – Narrated refuge tram tour

For more information on Earth Day at the Refuge, call 472-1100 ext. 236 or visit www.dingdarlingsociety.org/earth-day.

Island Sun (April 12, 2013)

Around The Islands With Anne

Season Soon To End For Cricket Shop; Courtney’s Reopens Off-Island

By Anne Mitchell

The Cricket Shop, Sanibel’s one and only outlet store, is nearing the end of its seasonal run.

Its last day will likely be next Wednesday, April 17, says owner Jeff Johnson. Hours are 10 a.m. to 5 p.m. the store is closed Thursdays and Sundays.

The heavily discounted merchandise includes famous maker swimsuits, beach cover-ups, sarongs, casual dresses and easy care separates such as crinkle cotton pull-on pants and loose tops in pastel colors. For example, on the clearance rack, I found embellished short-sleeve shirts by Afiva at the give-away price of $3.80 and $4.80, representing reductions of around 90 percent. However, most discounts are not this drastic – they are more in the 50 percent range.

This is a store where it pays to spend a little time browsing the racks because you’ll find a hidden gem here and there. There’s something for the young and not-so-young, such as cute little beach dresses with peek-a-boo draped backs as well as more modest garments for mature women. There’s even a cocktail dress in the mix.

Jams World colorful rayon tops sell for big bucks in most stores, but there’s a selection here priced at $23.45, almost 70 percent less than the regular $67 tag.

You’ll also find sun hats, sandals, jewelry, bags and other accessories.

Johnson uses this store to liquidate merchandise from his year-round stores in Collier County.

The Sanibel location is in Anchor Point shopping center, just east of Bank of the Islands, phone is 472-1683. It’s easy to overlook on busy Periwinkle Way, but well worth checking out if you get the chance. If you miss it this time around, the Cricket Shop will return to Sanibel next January.

Another island store that’s a little off the beaten path is On the Edge boutique, set back in the front corner of The Village Shops. The little store sells mostly bold beaded items such as oversize necklaces, belts and colorful beaded purses – and there’s also a selection of casual dresses in cotton and rayon, and some locally made earrings and bracelets.

Local artist Linda Threet makes the jewelry using sea glass and semi-precious stones fashioned with silver and copper wire. It’s pretty and delicate, in contrast to the heavily embellished imported jewelry that features chunky turquoise, coral, black and cream stones, among others.

The dresses are affordable and cute – appropriate for the beach and casual wear, with asymmetrical hems and lace inserts or embellishments. Check them out at 2340 Periwinkle Way, Sanibel, phone 395-0296.

Courtney’s, which departed Sanibel last year, has reopened just off-island in the Publix-anchored plaza on Summerlin Road, across from Tanger Factory Outlets.

“Nothing has changed, just the location,” says owner Betty Tonnell. “Come and see our beautiful new location,” she added.

She, her husband Chef Dale Tonell and staff look forward to seeing islanders, and they want everyone to know about their sunset dining specials from 4 to 6 p.m., starting at $11. Happy hour is daily from 4 to 6 p.m. as well, with reduced price drinks and $2 off appetizers.

Courtney’s address is 20351 Summerlin Road, Fort Myers, phone 466-4646.

Island Sun (April 12, 2013)

Beer In The Bushes Set For April 20

The Sanibel-Captiva Conservation Foundation (SCCF) will host the 2^nd annual Beer in the Bushes, a craft beer tasting on Saturday, April 20 from 7 to 9 p.m. Tickets are $30 in advance and $40 at the door. The event will be held on the grounds of the nature center and will include craft beer, barbecue, live music, dancing, games and an island sunset.

Beer in the Bushes is sponsored by The Sanibel Captiva Trust Company. Local distributor Red White & Brew is presenting beers from local brewery Point Ybel Brewing Company as well as Belfast Bay Brewing Co., Black Diamond Brewing Company and Full Pint Brewing Company, with thanks to The Grog Shop. Island BBQ will provide the food. The band Uproot Hootenanny will bring their unique brand of folk, bluegrass, Irish and rock from the east coast.

Proceeds will help support SCCF’s mission of conserving costal habitats and aquatic resources on Sanibel and Captiva and in the surrounding watershed.

SCCF is at 3333 Sanibel-Captiva Road. Reservations and advance payment are requested. Call 472-2329.

Island Sun (April 12, 2013)

Exhibit On Fort Myers Pioneers And Seminole-Miccosukee Indians

For the April Art Walk at the Sidney & Berne Davis Art Center, Woody Hanson, in collaboration with Harbey a Moore, PhD, Rob Keller, Amy Williams, Tracy Haun and Houston Cypress, will present an engaging visual experience that reveals the personal and social relationships of the pioneers of Fort Myers and Florida's Seminole-Miccosukee Indians.

"Interpreting these parallel cultures is something I've wanted to do for some time," said fifth-generation Fort Myers' resident Wood Hanson. "The juxtaposition of life in Fort Myers, a young and prospering town, and life in the Everglades or the Big Cypress Swamp, where ancestral cultures have been a constant for time eternal, is unimaginable - but real," Hanson said.

The exhibition includes over two hundred images of early Fort Myers and its pioneers, as well as rare views of one of Florida's most remote regions and the lives its Seminole and Miccosukee Indians lived here. The exhibit will open on April 5 during Art Walk and will be on display until April 24. The Davis Art Center is at 2301 First Street in the downtown Fort Myers River District.

Island Sun (March 29, 2013)

Buying a Vacation Home

There are lots of good reasons to want a vacation home, and hardly any of them are financial. There are psychological reasons, emotional reasons, family reasons. These kinds of reasons tend to push financial considerations into the background. But the financial side can't be overlooked.

As with any real estate, location counts more than any other single factor. The best vacation properties offer something special -- a view of the ocean, a mountain vista, a dock on a lake. For maximum appeal to potential renters or future buyers, look for a place within three hours' drive of a major metropolitan area. Longer distances or difficult roads make weekend trips a pain, and that limits your market.

Making the purchase. Vacation-home buyers often make down payments of 20% to 50%. Some even pay cash if they're buying a less expensive cabin or condo. Where do they get the money? A home-equity credit line drawn on their primary residence is a favorite source. Mortgage interest on a second home is deductible on as much as $1 million in principal for both homes combined.

Higher interest rates used to be the rule for mortgages on second homes because lenders considered them a greater risk than loans on primary residences. But these days you should be able to find a second-home mortgage at first-home rates. (Exception: If you'll be counting on rent receipts to help pay the mortgage, the rates will probably be higher.)

The bad news is that, burdened though you may be with two mortgages (or three, counting the home-equity line), lenders will expect you to stay within the debt-to-income limits dictated by Fannie Mae and Freddie Mac. Your total debt payments, including all mortgages, can't exceed 36% of your gross income. The good news is that if you plan to rent the place, you can count some of that assumed rent as income when calculating the ratio. The lender will tell you what's an acceptable assumption.

Renting out a vacation home. About one fourth of vacation homes are rented to other people for part of the year, and the appeal of different kinds of properties varies with the seasons.

For tax purposes, vacation homes are subject to what's called the 14-day or 10% rule. You can rent your place for up to 14 days a year and pocket the rental income without having to declare it on your tax return. If you rent out the house for more than 14 days a year, you are considered a landlord by the Internal Revenue Service and you must report the income. But you also qualify to deduct certain expenses.

The way you divide the time between personal use and rental use of the place determines your status in the eyes of the IRS. If your own personal use amounts to more than 14 days a year, or more than 10% of the number of days the home is rented out, whichever is longer, the house is considered your personal residence. If you use it for fewer than 14 days (or less than 10 percent of the time it is rented to others), it's considered a rental property.

The difference determines how much you get to deduct. If you meet the less-than-14-day-or-10% test, you can write off all the usual expenses associated with owning a rental property. If you rent the house half the time, for instance, half of your mortgage interest, property taxes, utilities, insurance costs, and repair expenses are deductible against rental income. (The other half of your interest and property taxes would still be deductible against your other income because it's a second home.)

You also get to deduct depreciation for the 50% of the house that's considered rental property. And you can write off 100% of the cost of advertising for tenants or other expenses directly related to renting. If your personal use exceeds the 14-day-or-10% limit, you can deduct expenses only up to the amount of your rental income.

Note that "personal use" is broadly defined by the IRS. It covers you or any member of your family, including your spouse, children, siblings, parents, grandparents and grandchildren. Any day you rent the place to anyone for less than fair market value counts as a personal day. Trading your place for a stay at some other place counts, too, as does any time you donate your property for charitable use.

Vacation-home owners considering retiring to their second home for a while after selling their first home get a double tax break: Make it your permanent residence for at least two of the five years before you sell and you qualify for up to $500,000 of tax-free profit ($250,000 if you're single) on the sale, just as you did on your first home.

If you don't convert your vacation home to your principal residence, you'll owe tax on any profit from the sale. If you have owned the place for more than 18 months, the profit is a long-term capital gain and is taxed at a rate of 15%, except for the profit created by depreciation deductions you claimed as a landlord. (Remember that depreciation lowers your cost basis in the property, thus increasing any profit when you sell.) Depreciation recapture, as this portion of the gain is called, is taxed at 25%.

Suppose all these deductions result in a loss for the year? If your adjusted gross income is less than $100,000, you can deduct up to $25,000 of rental losses. As your income rises to $150,000, this loss allowance gradually disappears. But don't lose faith: If your income is over the limit, you don't lose the deduction entirely. You add up the losses year by year and hold them in reserve. When you sell the home, you add all these unrealized losses to your cost basis, which has the effect of reducing any profit on the sale, and thus any tax you might owe on the profit.

You also must actively manage the property to qualify for the current deduction. Active management isn't strictly defined, but you're probably safe if you make key decisions, such as approving tenants, rental terms, and repairs.

CLICK HERE to read the article on Kiplinger's website

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Captiva Memories By The Sea

The Captiva Island Historical Society premiers Captiva Memories By The Sea, a collection of oral histories filmed by local videographer Rusty Farst. The video will be screened at the Captiva Community Center on Tuesday, April 9 at 7 p.m. The 37-minute video features Captiva pioneers or their decendants, who describe - for the first time - their recollections of life on the island in its early days.

This is the third in a series of recordings of Captiva's early history presented by the island's Historical Society. Like its predecessors, this video includes original and entertaining footage of marine and bird life on the island. After the screening, stay and chat with neighbors and friends at a reception with wine and cheese provided by the Captiva Island Yacht Club.

Reservations are necessary, as seating in the Captiva Community Center is limited. RSVP to Cindy Sargent by calling 472-9933 or by sending an email to mail@captivahistoricalsociety.org.

Island Sun (March 29, 2013)

5 Tips to Sell a Home Fast

The first home my husband and I lived in sold two weeks after we put it on the market. We had an offer on our second home before we even put a "For Sale" sign in the yard. That was not during the boom days of the housing market -- it was in September 2012.

The median time homes nationwide spent on the market in January 2013 was 71 days, according to the National Association of Realtors. That's 28 days less than a year earlier, but it's still months longer than both of my homes were on the market. And I know people -- and I'm sure you do, too -- who've had homes on the market for a year or more. So how did my homes sell so quickly? Here are five things my husband and I did before putting our house on the market in 2012 to ensure a fast sale.

Focus on curb appeal. Admit it: First impressions matter. So a house with chipping paint, overgrown bushes and patchy grass won't make a good impression. So we painted the exterior of our house (because some paint was chipping). We weeded, trimmed bushes, added new mulch and put new flowers in the planters in the front of the house. We actually had sod installed in the spring of 2012, so the grass looked good when we decided to sell in the fall. Yes, you might have to spend some money to make the exterior of your house more appealing, but it's money well spent if it gets potential buyers in the door. Plus, if your house is in good shape on the outside, buyers will see it as one less thing they have to spend money on once they move in.

Make all necessary repairs. Even minor things, such as a leaky faucet or chipped paint on a baseboard, can suggest to buyers that you might not be maintaining the house well in other ways, too. So we tackled several small projects that, admittedly, we had been putting off. Luckily, my husband is handy, so we didn't have to hire anyone to make these small repairs. And we had already undertaken two bigger repair projects several months prior to deciding to sell our house. In the spring of 2012, we hired someone to rebuild the portion of the fence in our backyard that was dilapidated and a major eyesore. Around that time, we also hired an electrician to check all the wiring in our 100-year-old home, fix any problems, replace several light fixtures and add outlets to several rooms.

Stage the house. Staging involves deeply cleaning, decluttering, depersonalizing and arranging furnishings to make your house as appealing as possible. According to a survey by the International Association of Home Staging Professionals and StagedHomes.com, 95% of staged homes sell in 23 days or less, on average. So we painted the walls in a stairway that were scuffed and the ceiling of our kitchen and sunroom because they had some stains. I packed up most of my family photos that were on shelves, tables and walls. We already had a storage unit, so we were able to clean out closets and put items we weren't regularly using into it. And we turned a kid's craft room (which was cluttered with art supplies, toys and a homemade craft table covered in paint and glitter glue) into a sitting room. My goal was to make my home look like it was ready for a photo shoot for a magazine or catalog.

Our 7 Things Home Buyers Hate slide show will help you pinpoint fixes you might need to make in your home. Also see the home improvement checklist at HomeGain.com. If you lack Martha Stewart's touch to stage your home yourself, you can enlist the help of a professional stager. The bill could run anywhere from a few hundred dollars up to several thousand. StagedHomes.com has a directory of accredited staging professionals.

Set the price right. We had our house appraised before selling it, so we knew its market value. We set our price slightly above the appraisal value -- but below the prices of comparable homes nearby that were for sale. And we were selling our house by owner, so we didn't have to factor a real estate agent's commission into the price. Our goal was to sell quickly -- not make a big profit -- because we had an offer on another house and it was contingent on the sale of our home.

It's important to know what your competition looks like when you're selling a home and setting a price. If most of the homes that are comparable in size, age and location to yours have hardwood floors and granite countertops and yours has carpet and formica, you'll need to set your price lower (or make updates to fetch a higher price). If the reverse is true, you might be able to set your price a little higher and point out to potential buyers that your house has more features than comparable properties. Most importantly, though, you need to be willing to negotiate.

Spread the word. This was the key to selling our second house before we even put up a "For Sale" sign. I posted on Facebook that we would be putting our house on the market soon. I told other parents as I waited outside my kids' school that we were selling our house. I even mentioned in a Parent-Teacher Organization meeting that I needed to sell my house because the offer I'd made on another house had been accepted. A day after that meeting, I got a call from the mother-in-law of one of the other PTO board members. We showed her the house three days later, on a Friday, and got an offer -- right at the appraisal value -- on Sunday.

Even if you hire a real estate agent, you should let as many people as possible know that your house is for sale. Someone who isn't even in the market for a new house (and not checking real estate listings) may have secretly been longing for your home and might jump at the chance to buy it.

CLICK HERE to view the this article on the Kiplinger website.

CLICK HERE to see how John Petel can help you buy or sell!