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.
What happens on Sanibel & Captiva is broadcast on The Coconut Telegraph.
Tuesday, August 30, 2011
Sunday, August 28, 2011
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
Sunday, August 14, 2011
Offshore investors snapping up Florida real estate
By 
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."
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."
Friday, August 12, 2011
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.
Thursday, August 11, 2011
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.
Wednesday, August 10, 2011
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.
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:
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.
Tuesday, August 9, 2011
Sea Turtle Update
Sea Turtle Research and Monitoring
Sea Turtle Nesting Stats | ||||
| Nests | False Crawls | Hatches | ||
| Sanibel East End | 35 | 83 | 11 | |
| Sanibel West End | 237* ** | 355 | 67* ** | |
| Captiva | 76 | 54 | 36 | |
| TOTAL | 348 | 492 | 114 | |
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.
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