Board Launches $3.5 Million Community House Campaign

Marge Meek, president of the

Sanibel Community Association,

has announced the launch of a

$3.5 million capital campaign to preserve,

renovate and modernize The

Community House.

“Terry Igo, the president of the Sanibel

Captiva Trust Company and past SCA

board member, has enthusiastically

accepted the position as chairperson for

the campaign. Already he has enlisted the

help of over 75 islanders to move this fundraising

phase into high gear,” Meek said.

“The Community House embodies the

spirit of Sanibel and the broad range of

people volunteering to help this campaign

reinforces how islanders come together for

a cause.”

“The Community House is a historical

gem and this campaign, by thoroughly

upgrading the building and grounds, will

restore it to the center of community life,”

said Igo. “It is our largest gathering place

on the islands and it’s very important that

it fully serve today’s residents and visitors.

In choosing a campaign logo that simply

states 1927 Capital Campaign, we honor

our long-standing place in the community

while reaffirming our ongoing commitment

to providing for the current and

future needs of our islands.”

The Community House was built in

1927 on donated land and by the islanders,

who worked side by side to construct

the building and turn it into their social

gathering place. Over the decades generations

of islanders have met there for every

conceivable civic, educational and social

event, including its signature Shell Fair and

Show that has attracted shell enthusiasts

from around the world for 75 years. The

passage of time, however, has taken its

toll on the original historic building and its

two additions.

“Since the 1990s there have been a

series of plans drawn up to rebuild The

Community House, but now our time has

come,” said Meek. “For over three years

the board has developed the strategy, the

vision, the passion, which have culminated

in the current schematic plans. We

thought of only one person to run the

capital campaign and we are delighted

Terry accepted the position. He has a

proven success record of leading capital

campaigns, including one for The Sanibel

School, and is the right person to get

people engaged and united for our common

goal.”

There will be a series of social events

held through the fall and winter to promote

the campaign and get islanders’

input. A kick-off party on November 9

will feature a dinner and homespun stories

by honorary co-chairs Francis Bailey

and Porter Goss and other islanders. It

will be an evening to celebrate what The

Community House has meant to this community

and what the future holds.

The architectural site plan and artistic

rendering of the grounds are on display

in the lobby as well as on www.sanibelcommunityhouse.

net and in a soon-to-be

released brochure

Sea Turtle Update

Sea Turtle Research and Monitoring

	Sea Turtle Nesting Stats As of August 26, 2011
		Nests	False Crawls	Hatches
	Sanibel East End	35	84	19
	Sanibel West End	239* **	361	120* **
	Captiva	76	54	47
	TOTAL	350	499	186

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.

Taste of the Islands

On Tuesday, the Clinic for the Rehabilitation Of Wildlife (CROW) announced that the 30th annual Taste of the Islands will be held on Sunday, Nov. 13, 2011 at Sanibel Community Park on Periwinkle Way. This event has become a traditional and much-anticipated part of the islands’ fall calendar.

For the second consecutive year, Bank of the Islands/Edison National Bank will be the Presenting Sponsor for this gala tasting of Sanibel and Captiva restaurants’ finest creations.

Renowned artist Ikki Matsumoto has again provided his unique creativity in designing a logo for this year’s Taste. The logo shows a feast presented and enjoyed by local wildlife, reflecting CROW’s mission of saving wildlife through compassion, care and education, as well as the enjoyable traditions of the Taste of the Islands.

CROW is presently organizing sponsors and participating restaurants. More information is available by e-mailinginfo@crowclinic.org or by calling 472-3644.

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."