Real Estate Blog

Welcome to Linda Gogan's Sanibel/Captiva Real Estate Blog!

Do your homework when selecting a Realtor to sell your property.

Here is a list of things to consider when selecting a Realtor to list and market your property:

1) Locally, how many MLS boards does the agent list with to get the largest amount of agent/broker coverage? Your property should be listed on the SanCap MLS, the Fort Myers MLS ,and the Naples MLS.

2) Locally, where will the agent display your property in print material? Look at recent examples of the realtors' ads.

3) Does the agent pay premium pricing to "enhance" their listings on realtor.com? This drives a significant increase in hits to your listing but is not cheap for the realtor.

4) Does the agent pay for professional photography and virtual tours and very high quality color brochures?

5) Over 85% of homebuyers start their search on-line. Find out which web sites that attract affluent buyers the agent advertises on. Sotheby's has an exclusive agreement with wsj.com (wall street journal). All of my listings also display on nytimes.com (new york times), iht.com (international herald tribune), greathomes.com (great homes network), sothebysrealty.com, as well as dozens more.

6) Which print materials that attract affluent buyers does the brokerage firm advertise with? If you read any of the following than you have seen Sotheby's ads- Conde Nast, Country Life, DuPont Registry, Robb Report, Robb Report Vacation Homes and many many more.

7) What kind of global presence does the broker have? Recently while I was vacationing in Singapore and opened up the Asian edition of the Wall Street Journal and there was a huge Sotheby's spread with several of our listings on Sanibel and Captiva. Does your agent have that global presence?

So, the bottom line- do your homework. Don't assume that the agent you worked with years ago on buying a home is the right agent to market your property with. As the seller, you will be paying out a large commission at closing- make sure you know what you are getting for your money.

Would you sell an art masterpiece through a local island art gallery? Of course not. Just like fine art, fine properties deserve international recognition and exposure.

Gulf to Bay Sotheby's International Realty is the islands' global realty firm. With over 10,000 agents and 500 offices in 58 countries, the prestigeous Sotheby's brand can connect your property on a global scale. The Sotheby's marketing machine will expose your property in the leading international publications and hundreds of leading web sites. Your property will even be broadcast on Sotheby's e-Gallery, shown in all of our offices worldwide and at our historic auction house in New York City.

Linda Gogan is a realtor with Sotheby's and has lived overseas and traveled the globe extensively throughout Europe, Asia, Australia, North America, and India. As a global marketing manager at a Fortune 5 company for over 12 years, she understands the importance of working with a strong brand and the worldwide appeal of the prestigeous Sotheby's brand.

Linda is also an island investor herself. Through owning several properties on the islands and elsewhere in Florida, she can steer you towards a great island investment. Linda's real estate web site is currently under development and will be available soon.

Linda also owns and operates www.IslandRatings.com, a 'rent-by-owner' website to help other island property owners maximize their return on investment. The community forum also helps visitors with questions they may have regarding their visit to the islands.

If you are buying or selling property on Sanibel or Captiva Island, contact Linda Gogan at Linda.Gogan@sothebysrealty.com or 239-850-1759.

Vacationers checking out local real estate

ABC News "There may be signs that the local real estate market is heading in the right direction. A big chunk of vacationers on Fort Myers Beach were walking into local real estate offices. We saw parking lots packed on Friday as curious people checked out the deals for renting and for buying along Estero Island. Real estate officials say Christmas is traditionally one of the quietest times for local realtors, but say the huge number of walk-in prospects is an encouraging sign heading into the New Year. "They're just coming in off the street, wanting to find something to rent," said Ann Alsop of Century 21. "Years ago, it used to be you never went to Fort Myers Beach without a reservation. Now it's different." She added that the increase in walk-up renters is rather unprecedented. Even more encouraging, she said, is the increase in walk-up home buyers.

Rates have dropped significantly this past week. For those potential buyers that have been sitting on the fence, this may be the time for them to make that move! Currently, the 30 year fixed rate is at 5.25% with no points!

Fed Aid Sets Off A Rush to Refinance

By Ruth Simon and James R. Hagerty The Wall Street Journal (Copyright (c) 2008, Dow Jones & Company, Inc.)

The Federal Reserve's attempt to stabilize the housing market set off a chain reaction across the U.S. on Tuesday, dropping interest rates and quickly spurring a burst of refinancing activity by borrowers eager to lower their mortgage costs. Some brokers said it was the most activity they've seen in at least one year, although there was no way to determine the volume of refinancing. At Bank of America Corp., call volume was roughly twice what was expected at call centers and via the Internet, said Matt Vernon, national sales executive. "It's the folks who have been sitting on the sideline. They're jumping in with this news." Rates on 30-year fixed-rate mortgages dropped by roughly half a percentage point to about 5.5%, for borrowers with good credit scores and substantial equity in their homes, say mortgage brokers and lenders. While the initial flurry of calls came from people seeking to refinance, economists predicted lower rates also will spur some home buying among bargain-seekers. The surge in refinancing will help the overall economy by putting more cash in consumers' pockets and reducing the pressure on some borrowers struggling to make payments.

Sanibel earns spot on the best in the world from Conde Nast readers...again

This is from the Naples News:

Sanibel Island has been named one of the the best in the world in Conde Nast Traveler magazine's 21st Annual Readers Choice Awards competition, earning a spot on the Top 10 North America Islands list. This is the fifth year in a row that Sanibel has received the honor. The magazine's readers chose the top island destinations based on their activities, ambience, beaches, friendliness, lodging, restaurants and scenery. The highest standards of hospitality are achieved without sacrificing the distinct qualities of local cultures and concerns. In fact, the definition of excellence is continually being revised upward. This happens because the authors of the poll- our readers - are themselves adventurous and intellectually curious voyagers who seem to be able to will these qualities into existence, said Klara Glowczewska, the magazine's editor in chief, in a statement.

http://www.naplesnews.com/news/2008/nov/18/sanibel-earns-spot-best-world-cond-nast-readers-ag/

Investment Buyers- Linda Can Help You Maximize Your Return on Investment!

Linda has owned and managed her own rental properties on Sanibel and Captiva Islands for the past 10 years. From this experience she has gained key knowledge on how to best maximize income revenue on her investment properties. Her rental properties consistently gross high revenue. She is happy to share her knowledge with all her investor clients to ensure they maximize their highest revenue potential. Here are some places where she is key to her investment buyers:

Property Selection- Condo complex, number of bedrooms/bathrooms, proximity to the beach, popularity with vacationers, size of complex, location of complex, etc all make a huge difference on how much revenue you can produce. Linda can help you select the best property within your budget to help you achieve your investment goals and maximize your return on investment.

Property Agent Selection- If you are an absentee owner, likely you will need an on island property manager to oversee it for you. Linda is familiar with all the property managers on the island and can help you with who is best in customer satisfaction, booking consistency and professionalism.

Marketing Plan- There is no doubt that owners who are involved in booking their vacation property rentals receive a higher rate of return on their investment. Linda can help you formulate and implement a comprehensive marketing campaign for your investment property which includes web design, listing services, and other web marketing techniques.

Zimomra sees good news in local economic indicators- Sanibel is still a place where people are willing to invest their money and build their homes

When you're in the city management business, you are constantly keeping your eye on all things economic and Sanibel City Manager Judie Zimomra is no exception especially at this time of economic upheaval.

Twice in the past month, Zimomra and her staff have been congratulated by City Council for their diligence in scaling back on public expenditures, including postponement of capital improvement projects, elimination of staff positions, and a 15 percent reduction in minimum salaries for city workers. We know that the City of Sanibel is not isolated from the effects of these global, national, state, and regional economic problems, said Zimomra at City Hall on Monday. We have to watch all economic indicators very carefully, to gauge their impact or potential impact on our local economy. With statistics in-hand, Zimomra ticked off the percentage decreases reported in various sectors of Lee County tourism.A 21 percent reduction in the number of visitors to Lee County, she read. A 12 percent reduction in visitor expenses per person per day. In addition to these dismal numbers reported for the month of September by the Lee County Visitors and Convention Bureau (VCB), arriving passengers at Southwest Florida International Airport is down 20 to 21 percent from the previous year, and Sanibel Causeway traffic is down 10,000 vehicles for the same time period.

Despite the disappointing county-wide and even nationwide numbers, Sanibel hoteliers and businesses are reporting a less grim economic picture, with many already receiving a healthy number of reservations for the upcoming tourist season.

Citing the Lee County VCB report, Zimomra pointed out the reasons why visitors say they chose Lee County for their vacations: A peaceful, relaxing atmosphere was the number one attribute cited by visitors, followed by the white sandy beaches, the warm weather and a clean environment.

Those are important things that we must protect as a city, said Zimomra. They are the priorities where we need to direct our resources, because our economy is based on the reasons that people say they like to come to Sanibel.

More positive economic news was recently discovered within the pages of the city Planning Department's recently released Development Permit Activity Report for the fiscal year ending Oct. 1. Thirteen new single family homes were constructed on the island between October 2007 and September 2008, with a total value of nearly $9 million. And that figure doesnt include the cost of the land, said Zimomra, adding that healthy construction figures were a positive indicator for the local economy. It shows that Sanibel is still a place where people are willing to invest their money and build their homes. There were only two less homes built in Sanibel last year than were built in the previous year, and that was only two less than were built in the year before that, noted Zimomra. We are not immune from the national trend, particularly in light of us being near build-out, she said. However, the depth of our decline in this category is significantly less than others in our region over the same period.In addition to the money spent on new home construction, 39 homeowners invested heavily in major renovations to their existing properties, sinking another $6.8 million into additions and remodels in excess of $42,000.

Now that the city is getting close to 100 percent build-out, homeowners are investing in their existing properties, observed Zimomra.Sanibel property owners have much to be proud of in this time of economic uncertainty, with no more than 10 homes currently on the foreclosure list. It's a number that's constantly changing, said Zimomra, But it's an indicator of where we are as a city economically.The city checks up on and keeps up with maintenance on homes that are in foreclosure, said Zimomra.

The last thing we want is to be one of those cities that people drive through and say "This looks like it may have been a nice place at one time, but they've sure let it go downhill" she said. We've all been through places like that, and we want to make certain that visitors never have that impression about Sanibel.

Despite the encouraging construction numbers and hopeful reports from city businesses and hoteliers, Zimomra said that she and the city are dedicated to constricting government and reducing expenses whenever the opportunity presents itself, while promoting the city's four major priorities: Keeping the city safe, clean, environmentally friendly and fiscally sound.Anything that's not supportive of these four major priorities is something that needs to be re-scrutinized, said Zimomra, because these are the things that keep people coming to Sanibel.

And that's what the local economy is all about.