July 2014 Press Release & Market Indicators

Home sales and prices continue to climb in Lee County
(Fort Myers, FL–August 22, 2014)

In Lee County, 1,042 single family homes sales were completed in July 2014 compared to

1,005 in July 2013, an increase of 3.7 percent. 

Foreclosure sales have increased
slightly compared to this time last year, but still only amount to only 20 percent of
properties sold in July 2014.

Current inventory combined with the current pace of sales created a 4.9-­month supply
of single family homes in Lee County for July.  There was a 5-­month supply in July 2013,
which indicates a sellers’ market.
 

“The benchmark for a balanced market (favoring neither buyer nor seller) is 5.5 months
of inventory”,said Association President Karen Swanbeck.  “If you are considering selling
a home in Lee County, the market indicates that now is a good time to do so”.
 

Lee County’s housing market also showed positive year-­‐over-­‐year movement in median
price in July.  The median price for single family homes was $179,000, an increase of
$16,900 or 10.4 percent compared to July 2013.

Nautical Happenings on Pine Island

March 29
Annual Kid's Fishing Derby

March 29
Bobby Holloway Fishing Tournament

April 1
America's Boating Course

April 3
Car "Cruise-In" at Cape Harbour

April 4-5
Cardboard Boat Race

April 7
Caribbean Car "Cruise-IN' at Salty Sam's Marina


Details about these and more in
Lee County's Marine Community at: www.NauticalMileWeekly.com

Flood Insurance Relief is Passed Into Law!

Flood insurance relief becomes law
WASHINGTON – March 24, 2014 – President Obama signed H.R. 3370 on Friday, cementing at least short-term relief for homeowners hit by skyrocketing flood insurance rates and sellers afraid their homes will be worth less after buyers factor in the yearly cost of significantly higher flood insurance coverage.

“This law brings great relief to Realtors across Florida, especially people living in those communities that bore the brunt of the unexpected and sometimes overwhelming premium increases. We whole-heartedly thank all the members of Congress who made this possible,” says 2014 Florida Realtors® President Sherri Meadows, CEO and team leader, Keller Williams, with market centers in Gainesville, Ocala and The Villages. “While we still have some concerns, H.R. 3370 provides immediate relief for many of Florida’s homeowners, homebuyers and sellers.”

Florida Realtors hopes homeowners will gain even more relief moving forward, Meadows adds.

“We’re currently talking to Florida lawmakers about private insurance options in the state,” she says. “Currently, almost all policies go through the National Flood Insurance Program (NFIP). We want to encourage private insurers to enter the flood market; and we hope homeowners will then be able to choose from different levels of flood insurance coverage.”

Flood insurance disclosure

“Prior to the signing of the flood insurance bill, we recommended that Realtors use a disclosure to alert prospective buyers to possible changes in the cost of flood insurance after closing,” says Margy Grant, Florida Realtors vice president and general counsel. “That disclosure is now outdated, and we’ve taken it out of Form Simplicity (Florida Realtors’ transaction management service) and alerted other forms providers as well.”

While the disclosure is no longer needed, Grant says she’s analyzing the new law now with an eye to Florida Realtors’ contracts and forms. Once completed, she expects updated flood insurance language to be similar to the current language on homeowners insurance.

“Some Florida Realtors contracts and forms refer to the Biggert-Waters Act and changes created by its passage,” she says. “If necessary, we’ll update forms to reflect any new requirements. We’ll keep members informed. In the meantime, specific questions can be addressed to lawyers on Florida Realtors Legal Hotline.”

The Legal Hotline is a free service for members of Florida Realtors.

Changes for buyers and sellers

Before President Obama signed the new law, the amount of money paid for flood insurance coverage would readjust at the time of sale for pre-FIRM homes (ones built before the creation of flood insurance rate maps). As a result, a buyer might be forced to pay thousands of dollars more for flood coverage, which directly impacted the value of the home.

Under the just-passed bill, however, flood insurance prices have continuity: The purchaser is treated the same as the current property owner. Flood insurance rates may still go up for a buyer under rules in the new law, but they won’t rise any more than they would have if the current owner retained the property.

Frank Kowalski, 2005 Florida Realtors president and also an insurance agent, says he’s “elated with this outcome and thankful to the Senators and members of Congress that stood with Realtors and homeowners.” But, he says, “We should not expect any overnight changes.

“While a buyer no longer faces a huge flood insurance hike at the time of sale, it will take time for mortgage and insurance companies to adapt to the change,” Kowalski says. “The Federal Emergency Management Agency (FEMA) must study the bill, and specific rule changes not addressed in the bill’s language must be solidified. Insurance companies must then be notified; software must be upgraded; and line agents must be educated.”

Kowalski says that the process “will take time – and it will take some companies more time than others.”

Changes for homeowners

FEMA now cannot raise any single homeowner’s flood rate more than 18 percent per year; but FEMA has another restriction: It cannot raise flood insurance rates within a single property class more than 15 percent per year on average.

The new law directs FEMA to increase flood rates by at least 5 percent for most homes that pay less their actuarial rate currently. (An actuarial rate is one considered a fair balance between premium amount paid and the chance of damage from flooding.) However, it also pushes FEMA to keep a single yearly increase lower than 1 percent of a property’s value. (Example: FEMA should try to keep a yearly increase below $1,500 for a homeowner in a $150,000 property.)

One change – a fee increase – impacts all homeowners with NFIP policies: An annual surcharge of $25 for primary residences and $250 for second homes and businesses will be charged until subsidized policies in NFIP’s portfolio reach full risk rates. The increase is an attempt to reduce the $24 billion deficit FEMA now has, due largely to payouts following two hurricanes, Katrina and Sandy.

According to Kowalski, it’s not clear what will happen to homeowners currently paying low-risk rates, but the new $25 yearly fee probably applies to them. “Are they considered grandfathered in at lower rates?” Kowalski asks. “It’s not clear yet.”

Finally, a previous provision forced any homeowner who improved or renovated a home more than 30 percent to pay full actuarial rates. Under the new law, however, that threshold has gone back to its historic norm of 50 percent. An upgrade below that percentage will retain any existing flood insurance premium savings.

Homeowners who already paid

Some homeowners impacted by higher flood insurance rates have already paid for their coverage, and they deserve a rebate – but that rebate may not come quickly.

Many properties conformed to code when they were built, only to find later that FEMA redid its flood insurance rate map (FIRM) and identified the properties as below code. These homeowners were among the people who saw the biggest increase in their flood insurance bills.

Under the new law, however, these properties are now “grandfathered in,” meaning their lower rate stays because the homes were originally built to code. (Also important: The grandfathering stays with the property, not the policy.)

Owners who have already paid the no-longer-required higher coverage benefit can expect to get money back.

“Again, however, that will take time as FEMA and companies work out the details,” says Kowalski. The most pessimistic estimates suggest homeowners due a refund may end up waiting a year or even 18 months for their money.

Pine Island Marine Activities Mar-April

March 20-23
Palm Beach Boat Show

March 22
Fishing for the Blind Tournament

March 22
Matlacha Mullet Toss

March 20
Bobby Holloway Fishing Tournament

March 29
Annual Kid's Fishing Derby

April 4-5
Cardboard Boat Race

Details about these and more in
Lee County's Marine Community at:

www.NauticalMileWeekly.comMarch 20-23
Palm Beach Boat Show

March 22
Fishing for the Blind Tournament

Upcoming Lee County Marine Events

Tomorrow through Sunday
Bonita Springs Boat Show

March 5
Tarpon Fishing Clinic - Ft. Myers Beach

March 6-9
New Bonita Boat Show at the Greyhound Track

March 7-9
Water & Wheels at Cape Harbour

March 8
Ladies Let's Go Fishing Clinic - Matlacha

** Sunday March 9 - Daylight Savings **

March 13
CCA Annual Banquet

Details about these and more in
Lee County's Marine Community at:

www.NauticalMileWeekly.com

What's Happening on Pine Island this weekend- Feb. 20, 2014

Thursday, February 20th

American Legion Post 136 - Serving Gyros or Turkey, Bacon & Ranch Flat Bread, 11 AM;  Soup & Salad Bar, 11 AM - 2 PM; Wings & Egg Rolls, 5 PM-7 PM.  Come join in the fun with Karaoke and Jim Anderson, 6:30-9:30 PM.

Bert's Bar & Grill - Presenting Deb and the Dynamics, 7 PM.

Island Grill - Thursday Special:  $1.50 drafts and $.60 wings.

GPICC- After Hours Card Exchange @ Museum of The Islands; Place: 5728 Sesame Dr, Pine Island Center at 6PM. www.museumoftheislands.com

Matlacha Community Center - YogaFit classes - 10 AM at Community Center; classes last 75-90 minutes.  Call 283-4110 for information.

Miceli's Restaurant - Prime Ribs 2 for $20 after 3 PM; presenting Tyler Kluesner, 5-9 PM.

Nav-A-Gator - - Live Music- John Reno 6-9pm. Cover charge - canned goods & nonperishable food items

Olde Fish House - Presenting Steve Chadboure, 12:30-3:30 PM.

Tarpon Lodge - Presenting Dave Lapio, 6-9 PM.  Dave's progression from piano to steel drum has produced his very own blend as a "pan" player.  Feel the pulse, move to the beat....a tropical night full of flavor

Friday, February 21st

American Legion Post 136 - Serving Burgers & Chips from 11 am to 1:45 PM.  Music Box Duo, 12 pm to 2 pm; Chicken, Fish, Ribs & Shrimp, 5 pm to 7 PM. Ray LoRae Show from  6:30 to 9:30 PM.

Bert's Bar & Grill - Presenting Ellie Lee & Blues Fury at 7:30PM.

Calusa Heritage Trail - Guided tours, 10 AM and 1 PM.

Pine Island Community Church Rock & Roll Sock Hop 7 -10PM at 5320 Doug Taylor Circle, St. James City. 1950's & 60's music. Tickets $5, only 120 tickets available. Purchase tickets at Olde Fish House Marina, Traders Hitching Post & Pine Island Community Church. For more information call 283-9944.

Island Grill - Friday Special - All-You-Can-Eat fried fish for $9.95.

Miceli's Restaurant - Presenting Back Lash, 6-10 PM.

Nav-A-Gator - Farm Fresh Produce Stand; vegetables, fruits, jams, jellies and more for purchase GMO Free 10a-5p

Olde Fish House - Presenting Fish "N Tips Band, 12 Noon - 3 PM and from 5:30-9 PM Joe & Vicki Price.

St. James City Civic Association - Sixth Annual Art Expo at the St. James Civic City Association. Includes Hot Shots Photo Expo. For Expo info call David at 282-2216.

Saturday, February 22nd

American Legion Post 136 - Golf Outing 10 AM - 5 PM; Burgers & Dogs and Small Town, 1-4 PM; BBQ Chicken and David Dean, 5-8 PM.

American Legion Auxiliary Annual One Hole Golf Outing 10AM to 5PM.

Bert's Bar & Grill - Presents Gary Kerri & Friends at 7 PM.

Calusa Heritage Trail - Guided tours, 10 AM and 1 PM.

Champion Self Storage-Come on down to our property for our multifamily Yard Sale 8-1; Over 40 families will be set up. For more information call 282-2866

Friends of the Pine Island Library Book Sale - 9 AM - 1 PM at Fishers of Men Lutheran Church

Island Grill - Saturday Special - Prime Rib Dinner for $13.95 with Live Music -  Pine Island Sound from 5-7:30 PM

Miceli's Restaurant - Presenting Revamped, 6-10 PM. 

Nav-A-Gator - New Extended Hours Saturday open late for evening dining enjoyment. Jim Morris from2-5pm

Olde Fish House - Presents Aimee Linn Band, 4:30-8:30 PM.

Matlacha Community Center - Quilts R Us Showcase - 9:30AM - 2:20PM. Free Admission.

Matlacha Mariners - Seafood Fest & Car Show 10:30AM - 5:00PM at Sun Splash Family Water Park, Cape Coral FL.

Pine Island Garden Club- Garden Gala - at Phillips Park from 9AM-2PM. For more information please go to www.pineislandgardenclub.org

St. James City Civic Association - Sixth Annual Art Expo at the St. James Civic City Association. Includes Hot Shots Photo Expo. For Expo info call David at 282-2216.

Sunday, February 23rd

American Legion Post 136 - Tommy Dee & Burgers Brats & Dogs, 1-4 PM.  Free Jukebox, 5-9 PM.

Bert's Bar & Grill - Presenting Garry & Kerry, 3 PM.

Miceli's Restaurant - Presenting Kathy Eagle, 12 PM; and presenting Stringtown, 4 PM.

Nav-A-Gator - Farm Fresh Produce Stand; vegetables, fruits, jams, jellies and more for purchase GMO Free. 10a-5p. Live Music Jim Hoehn - 2-5pm. Cover charge - canned goods & non-perishable food items

Olde Fish House - Presents Gator Nate 'n The Gladezmen from 2-6 PM.

Monday, February 24th

American Legion Post 136 - $1 Taco, 11 AM; $1 Margaritas, 11AM-2 PM; Pizza, 5-7 PM.

Bert's Bar & Grill - Presenting Randy McAllister, 7 PM.

Miceli's Restaurant - Presents J.R. Bradford, 5-9 PM.

Nav-A-Gator -  Special. Carolina Burger topped with BBQ Pork, Coleslaw. Add a basket of fries for a great meal

Old Fish House - Presents Coast Connection Band, 12 Noon - 4 PM.

Tuesday, February 25th

American Legion Post 136 -Serving Fish, Shrimp or Chicken Tenders, Soup & Salad Bar 11 AM-2 PM.  Bar Bingo at 6PM.

Bert's Bar & Grill - Presenting Scotty Bryan at 6:30 PM.

Miceli's Restaurant - Presenting Rob Matson, 5-9 PM.

Nav-A-Gator - Golden Coconut Shrimp Dinner served with sautéed veggies, house salad, dirty rice & black beans

Old Fish House - Presents Grand Olde Fish House Opry Jam, 12-3 PM; and Brother Love, 5:30-8:30 PM.

Sandy Hook- Kids eat free with adult entree purchase.  

Tarpon Lodge - Presenting Sister Kaite, 6-9 PM.  Kaite is a golden-voiced singer, gifted & creative on the piano.  She plays a dazzling array of blues, standards and shanties.  Kaite's tastefully delivered, comedic edge will make you smile.

Wednesday, February 26th

American Legion Post 136 - Italian Roast Beef AuJus or BBQ Riblets & Soup & Salad Bar from 11-2PM.   Sons of the Legion at  6:30 PM.

Calusa Heritage Trail - Guided tours, 10 AM and 1 PM.

Miceli's Restaurant - Presents Double D's, 5-9 PM.

Nav-A-Gator - Presenting Chakulla & Me, 6-9 PM. Cover charge - canned goods & non-perishable food items.

Old Fish House Marina -The Fiddle Crabs Band Noon- 3:00 PM &  Bike Night with the John Allender Band, 5:30-9:00 PM.

Mark Your Calendars

November-April - Creative Coast Weekends - Second Weekend of each month.

March 1 -  Calusa Land Trust - Great Calusa Rubber Duck Race from noon to 5PM @ Woody's Waterside Pub in St James City. For additional information contact Pink or Ron Wesorick at 239-283-7249

March 2 - Bib Bingo at the St. James City Civic Association - Call 282-8483 for information.

March 8th American Legion - Legion Riders is having their Steak Roast from 1-6pm.  All dinners are only $15 and are a limited number.  See any Rider or bartender for prepaid tickets!

March 8th - From Our Heart -13th Annual BreastFest - 8:00AM to 4:00PM at St James City Civic Association. Registration opens at 7:30PM to 8:15 day of walk. Walk begins at 8:30AM.

March 14 - O.W.L.S. Program called Five Wishes about end of life decisions.

March 8 - Pine Island Moose #1954 -  First Annual Car Show. 11AM - 3PM. Entry Information at the Moose, 8903 Stringfellow Rd St James City.

March 8 & 9 - "Ladies, Let's Go Fishing" University Series  at Matlacha Community Park. Registration $69. Call 954-475-9068 or visit www.ladiesletsgofishing.com.

March 15 - Calusa Heritage Day, 10 AM -4 PM, $5 per person, RCC members and children under 12 free.

March 15th - Matlacha Hookers Bag N Tag Sale at the Moose Lodge. Shoppers can purchase a brown paper grocery bag for $5 and fill it with as many clothing items that they can fit in the bag.  In the past, shoppers have garnered anywhere from $30 to $125 worth of items for their $5 investment.  Hooker Hagglers will be on hand to assist shoppers interested in other items. The Matlacha Hookers will also host a pancake breakfast that morning from 8:00 am until 11:00 You will not leave hungry! 

May 26th- Wounded Warrior Anglers Boat Raffle at Olde Fish House Marina. Drawing will be between 5-7:30PM. Tickets for boat are still available. For more information call 423-620-9104.

Pine Island Marine Events Week of February 12, 2014

Hump-Day from NauticalMileWeekly.com Upcoming Lee County Marine Events   February 12 Michigan Day at Big Game Waterfront Grill www.biggamewaterfrontgrill.com February 13-17 Miami Boat Show www.showmanagement.com February 14 Valentine's Day February 15 Chart Class www.scbps.com February 22-23 Jupiter Dive Trip www.captpetes.com ....there's a lot more events in Lee County's Marine Community at: www.NauticalMileWeekly.com