Firefighters Provide Patriotic Welcome To The Islands

by Jeff Lysiak

Looking to arrange a spectacular greeting for Operation Open Arms honorary guests Lance Corporal Christian Brown and Brown's mother, Lyn Braden-Reed as they arrived at the Sanibel Causeway last Thursday afternoon, Tim Barrett, training officer for the Sanibel Fire & Rescue District, recalled how the arrangements were made to make a very patriotic and memorable welcome to the islands of Sanibel and Captiva.

"On March 20, I received a call from Captain John "Giddy Up" Bunch about the upcoming visit from two combat wounded Marines," recalled Barrett. "John is the founder of Operation Open Arms, a non-profit organization helping to provide U.S. service men and women visiting Southwest Florida every conceivable benefit during their two-week combat leave or return from a foreign duty station."

Bunch asked the Sanibel firefighters if they could arrange something special for the veteran's arrival to the islands.

"Nothing would give us a great pleasure than to help honor a wounded serviceman," said Barrett.

Members of both the Sanibel Fire & Rescue district and Iona-McGregor Fire Department gathered on Causeway Island A with a pair of ladder trucks. Borrowing a 30-foot American flag from the City of Fort Myers Fire Department, the two companies planned to hang the stars and stripes across the causeway road. But that task may not be as simple as it sounds.

According to Barrett, it's a rather complicated process:

Step 1 - Park two 75-foot ladder trucks on each side of the road just pas "A" span
Step 2 - Rig ropes to the top of each ladder truck (for raising 30-foot flag)
Step 3 - Stop traffic
Step 4 - Raise flag without letting it touch the ground and secure top of flag.
Step 5 - Realize flag needs to go up a lot higher to keep away from big trucks
Step 6 - Stop traffic (again)
Step 7 - Secure additional lines to bottom of flag and raise ladders to their maximum height

"After a dozen of support honks, cheers and pictures from cars, trucks and bicycles, we were ready for our honored visitors," said Barrett.

Both fire departments lined up by their ladder trucks, snapped to attention and saluted out guest as he passed. Preceded, of course, by a large contingent of civilian motorcycles, a Lee County Sheriff's Office motorcycle escort and several fire department and law enforcement vehicles.

The experience left Barrett, and all those who witnessed the huge American flag hanging above the entrance to the islands, with a warm and patriotic feeling.

"It left me with a great sense of honor and pride," he said. "It's the least we could do, considering all he has done for our country. we should all be saluting our troops."

Island Sun (April 26, 2013)

John R Wood Quarterly Update

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Home Owners Finding Gaps in Insurance Coverage

If you need help deciding if you have the right coverage on your property in SW Florida contact Mark & Teresa Baker at John R. Wood Island Real Estate. We have an in house Insurance agent for all your insurance needs. CLICK HERE to visit Mark & Teresa's website.

DAILY REAL ESTATE NEWS | MONDAY, APRIL 15, 2013

Homeowner's insurance rates have risen 69 percent over the past decade, now averaging $1,000 a year. But as rates rise, home owners are finding their coverage hasn’t. In fact, some insurance companies have added new restrictions or increased deductibles, CNNMoney reports. 

Some home owners are being faced with tens of thousands of dollars in costs for damages that they originally thought would be covered by their homeowner's insurance policies.  

"It's easy to think you're covered when you're not," says Amy Bach, executive director of advocacy group United Policyholders.

For example, coverage most often falls short in covering flood damage and wind damage, according to the article. Private insurers mostly stopped covering flood damage, which forced home owners to be proactive in purchasing coverage through the National Flood Insurance Plan. Also, special wind deductibles have been introduced in several states, but home owners need to be proactive in checking their amount of coverage in case of a windstorm and deciding whether they need additional coverage. 

Another area where homeowner's insurance policies fall short in coverage, according to experts, is covering water damage, such as from a cracked pipe, leaky toilet, or clogged drain. Many insurers have scaled back their coverage in this area. Some experts recommend home owners should increase their protection by getting a rider that covers sewer and drain backups, particularly if they have a sump pump. Wireless water alarms -- which cost about $25 for three -- also can help home owners detect a leak quickly before significant damage.  

Source: http://realtormag.realtor.org/daily-news/2013/04/15/home-owners-finding-gaps-in-insurance-coverage

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. 

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

CLICK HERE to visit Mark & Teresa Baker's website.

For Housing Confidence, Millennials Lead the Way

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?"

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

CLICK HERE to visit Mark & Teresa Baker's website.

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

~ For help in find a vacation or investment property CLICK HERE to visit Mark & Teresa Baker's website. ~

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.

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

For help in find a vacation or investment property CLICK HERE to visit Mark & Teresa Baker's website.

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

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

Fla's housing market continues positive trends in Feb. 2013

ORLANDO, Fla. – March 21, 2013 – Florida’s housing market reported more closed sales, rising median prices, increased pending sales, more new listings and a reduced inventory of homes for sale in February, according to the latest housing data released by Florida Realtors®.

“Each month brings more positive signs for the state’s housing market,” says 2013 Florida Realtors President Dean Asher, broker-owner with Don Asher & Associates Inc. in Orlando. “For example, February is the 14th month in a row that statewide median sales prices for both single-family homes and for townhouse-condo units increased year-over-year, according to Florida Realtors’ data.

“Properties are selling more quickly statewide, especially at certain price points – the median days a home is on the market dropped about 15 percent for single-family homes and 10 percent for townhouse-condo units in February. Plus, sellers are receiving more than 92 percent of their original listing price in both the single-family home and townhouse-condo markets.”

Statewide closed sales of existing single-family homes totaled 15,666 in February, up 10.3 percent compared to the year-ago figure, according to data from Florida Realtors Industry Data and Analysis department in partnership with local Realtor boards/associations. Closed sales typically occur 30 to 90 days after sales contracts are written.

Meanwhile, pending sales – contracts that are signed but not yet completed or closed – for existing single-family homes last month rose 26.7 percent over the previous February. The statewide median sales price for single-family existing homes last month was $150,000, up 12.8 percent from the previous year.

According to the National Association of Realtors® (NAR), the national median sales price for existing single-family homes in January 2013 was $174,100, up 12.6 percent from the previous year. In California, the statewide median sales price for single-family existing homes in January was $337,040; in Massachusetts, it was $282,500; in Maryland, it was $223,469; and in New York, it was $220,000.

The median is the midpoint; half the homes sold for more, half for less. Housing industry analysts note that sales of foreclosures and other distressed properties downwardly distort the median price because they generally sell at a discount relative to traditional homes.

Looking at Florida’s year-to-year comparison for sales of townhouse-condos, a total of 8,028 units sold statewide last month, up 7 percent compared to February 2012. Meanwhile, pending sales for townhouse-condos in February increased 14.3 percent compared to the year-ago figure. The statewide median for townhouse-condo properties was $115,000, up 21.1 percent over the previous year. NAR reported that the national median existing condo price in January 2013 was $169,600.

The inventory for single-family homes stood at a 5.5-months’ supply in February; inventory for townhouse-condos was at a 6.1-months’ supply, according to Florida Realtors.

“Several things are particularly striking about the February data,” said Florida Realtors Chief Economist Dr. John Tuccillo. “First, we note the continuing growth of cash sales, which are now half of existing single-family closed sales statewide and more than three-quarters of townhouse-condo closed sales. Second, we’re seeing more new listings and that trend is turning positive. This is the first sign that low inventories are convincing sellers to come to the market.

“Third, and related to the last point, the lowest price tiers (for home listings) are just about wiped out and are moving in a direction counter to the state trend,” Tuccillo noted. “The biggest movements in listings as well as the other metrics are in the $300,000-$500,000 price tier.”

According to Freddie Mac, the interest rate for a 30-year fixed-rate mortgage averaged 3.53 percent in February 2013, down from the 3.89 percent average during the same month a year earlier.

To see the full statewide housing activity report, go to the Florida Realtors Research page on the website and click on the Research page; then look under Latest Housing Data, Statewide Residential Activity and get the February reports. Or go to Florida Realtors Media Center  and download the February 2013 data report PDFs under Market Data.

Source: Florida Realtors http://www.floridarealtors.org/NewsAndEvents/article.cfm?p=1&id=289007

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)