Author: LeAenSUAREZGroup

Hurricane Ian hit Southwest Florida in September 2022, causing widespread damage to homes and businesses. The local real estate market took a major hit in the months after the storm, but it has since rebounded. In fact, some are now saying that the period after the storm has been the best time to invest in real estate in Southwest Florida.

Prior to the hurricane, Cape Coral was recognized as the hottest housing market in the U.S. in May 2022, with a year-over-year gain of 36.9% in median prices. However, the storm led to a significant drop in new listings and sales.

Now, nine months after the hurricane, the real estate market is showing signs of recovery. According to a report from Redfin, listings of homes for sale have recovered, and sales have started to bounce back. In the two months following the hurricane, there were 900 fewer new listings than projected. However, in the six months after that, there were 1,314 more new listings than projected, offsetting the initial shortfall.

Despite the initial hit to the real estate market, the period following the storm has been seen as a good time to invest in real estate in the area. Developers have been attracted to the opportunities presented by the hard-hit coastal areas, and research has shown that real estate in hurricane-affected regions has historically appreciated above the national average following a storm.

The recovery of home sales in Cape Coral suggests that many home buyers continue to prioritize waterfront views, relatively affordable home prices, and lower taxes over climate concerns.

There are a few reasons for this. First, the storm caused a significant decrease in the number of homes for sale in the area. This has created a seller’s market, with bidding wars becoming common. Second, the storm also caused a decrease in property values. This means that investors can now buy homes at a significant discount.

Florida has issued 80,000 residential building permits so far this year, second only to Texas. New construction homes in Florida are built under the most recent building codes, offering better resistance against natural disasters and climate change.

Of course, there are also some risks associated with investing in real estate in a post-hurricane area. For example, there is always the possibility that another storm could hit the area in the future. However, proponents of investing in Southwest Florida argue that the potential rewards outweigh the risks. They point out that the area has a strong economy and a growing population, both of which are factors that should support continued growth in the real estate market.

Overall, the real estate market in Southwest Florida is recovering well after Hurricane Ian. The number of homes for sale is increasing, and sales are beginning to bounce back. Investors who are willing to take on some risk may find that the area offers attractive opportunities.

Here are some additional details from the article:

• Cape Coral, Florida was one of the hardest hit areas by Hurricane Ian. The city’s median home price fell by 17% in the months after the storm.
• However, the real estate market in Cape Coral has since rebounded. In May 2023, the city’s median home price was up 10% from a year earlier.
• The recovery in Southwest Florida’s real estate market is being driven by a number of factors, including the area’s strong economy and growing population.
• The region is also attracting a number of investors who are looking for bargains in the wake of the hurricane.
• Some experts believe that the real estate market in Southwest Florida could continue to grow in the years to come.

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For those living in alligator territory, experts at Gator World Parks suggest a few tips for keeping safe around these dangerous creatures.

• Do not approach a gator. Stay at least 30 feet back and back away even further if they begin to hiss at or move towards you. Do not assume they can’t catch you if you run: American alligators can move up to 30 mph on land in short bursts.
• Know when and where gators like to hang out. They are most active between dusk and dawn and prefer sunbathing along water banks during the day. Avoid swimming or hanging around these locations and at these times.
• Do not fish near alligators and move away from a fishing spot if one approaches. Do not ever feed gators. Dispose of leftover scraps from fish, bait and food in proper containers and do not throw them back into the water or leave them near the water’s edge.
• Do not allow pets or children to swim in, drink from or approach bodies of water known to have alligators present. If you live in an area with a lot of gator activity, take precautions such as monitoring pets when they are outside or building fences at least four and a half feet tall.
• Avoid locations near bodies of water that may be nests. Female alligators will become abnormally aggressive to protect them. Keep an eye out for collections of twigs, grass and disturbed soil and steer clear if you see them.

In a move that brings hope to the communities devastated by Hurricanes Ian and Nicole in 2022, the state of Florida has earmarked over $4 billion for hurricane recovery and relief in its new budget. This allocation is part of the record $116.5 billion budget, which is set to provide much-needed support to Southwest Florida and other hard-hit areas.

The budget includes a substantial $75.2 million for the repair of bridges in Lee County and an additional $17.6 million for Lee County schools. Furthermore, it funds $350 million in grant recovery programs and provides $1.735 billion in new hurricane money. This funding will be used for emergency preparedness, beach renourishment projects, and grants to single-family property owners to improve their home’s storm resilience.

The financial and infrastructure assistance will be a boon to families, businesses, and governments who have been grappling with the aftermath of Hurricane Ian’s landfall. The Category 5 hurricane wreaked havoc, causing nearly $113 billion in damage and becoming the nation’s third costliest storm on record and the most expensive in Florida’s history.

With the new funding and the funding authorized during special legislative sessions, the total state hurricane spending now exceeds $5.4 billion. This substantial allocation will go a long way in building resilience to withstand future storms and supporting the communities most impacted by Hurricane Ian.

The budget also allocates $75.2 million for the repair of four hurricane-damaged bridges in Lee County, including a significant $51.7 million for the Sanibel Causeway. The Lee County School District is set to receive $17.6 million for repairs and rebuilding projects.

The $4 billion in hurricane spending also establishes the Hurricane Ian and Nicole grant recovery program. This program, with $350 million available, will assist local governments, special districts, and school boards. The funding aims to alleviate revenue losses and operating deficits, repair and replace roads, sewer and water infrastructure, renourish beaches, and complete debris removal.

This news brings a ray of hope to those affected by the hurricanes. As we continue to rebuild and recover, we are reminded of the strength and resilience of our communities.

Florida Realtors released a report in May showing that the statewide median sales price for single-family existing homes was $419,900.

The report also showed that median sales prices varied by metropolitan statistical area (MSA). The highest median sales price was in the Naples-Immokalee-Marco Island MSA, at $810,000. The lowest median sales price was in the Jacksonville MSA, at $393,015.

Here were the median sales prices by metropolitan statistical area:

1. Naples-Immokalee-Marco Island: $810,000
2. Miami-Fort Lauderdale-West Palm Beach: $610,000
3. North Port-Sarasota-Bradenton: $513,000
4. Cape Coral-Fort Myers: $445,000
5. Crestview-Fort Walton Beach- Destin: $441,500
6. Orlando-Kissimmee-Sanford: $435,000
7. Port St. Lucie: $415,000
8. Sebastian-Vero Beach: $412,000
9. Tampa-St. Petersburg-Clearwater: $406,730
10. Jacksonville: $393,015

TravisMathew, a popular athletic fashion brand with a Southern California influence, is expanding its retail presence in the region by opening two new stores. One of these stores marks the brand’s debut in the Fort Myers-Naples market.

The Fort Myers TravisMathew store has already opened its doors in early July at the Miromar Outlets in Estero, as stated in a press release.

Additionally, the brand’s website mentions that a second store is set to open in The Mall at University Town Center in Sarasota. Although the opening date is not listed, the website does feature job postings for supervisor, part-time client associate, and assistant store manager positions. This store will be the first TravisMathew location in the Sarasota-Bradenton market. Other TravisMathew stores in Florida can be found in Daytona Beach, Palm Beach Gardens, Boca Raton, and Tampa.

Established in 2007 with a primary focus on the golfing community, TravisMathew draws inspiration from the culture and lifestyle of Southern California, particularly the surf, sand, and sun. Over time, the brand has expanded its offerings to include easy-to-wear lifestyle looks suitable for both the golf course and everyday wear. Their product lineup includes lightweight and functional sportswear, footwear, and accessories for men, women, and children.

TravisMathew boasts an impressive lineup of pro sports and entertainment ambassadors, featuring notable figures such as NFL quarterbacks Matt Ryan and Jimmy Garoppolo, professional golfers Sam Burns and Jon Rahm, and actor Chris Pratt.

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The Bowman’s Beach Park Kayak Launch Replacement Project, situated at 1700 Bowman’s Beach Road commenced construction on June 19, 2023. The Kayak Launch will remain closed until August 2, 2023. However, during this period, the beach park and restroom facilities will remain open for public use.

The City of Sanibel has partnered with Infinite Construction, LLC to undertake the project, which involves replacing the current structure with a new floating kayak launch system that complies with ADA accessibility standards. Funding for this improvement project has been provided by the Lee County Tourist Development Council. The City of Sanibel sincerely apologizes for any inconvenience caused by the temporary closure and assures you that this initiative aims to enhance public amenities.

If you have any questions or concerns regarding the Bowman’s Beach Park Kayak Launch Replacement Project, please feel free to contact the City of Sanibel Public Works Department. You can reach them via email at sanpw@mysanibel.com or by calling (239) 472-6397.

Land The Captiva Civic Association’s mission is “preserving the quality of life, ambiance, and environmental integrity of this unique barrier island community.” In fact, the CCA has a very specific Land Use Policy in its Bylaws. If you are a CCA member, this policy in its entirety can be found on pages 54 and 55 in the 2023 member directory, in the bylaws section. An excerpt from this section is as follows:

“The CCA, in accordance with its mission, shall work with governmental authorities, property owners, and other associations to…maintain the strict limits on density and height as currently stated in the Lee County Comprehensive Plan, and to oppose any exceptions sought through the variance process.”

A Lee County Board of Commissioners agenda item with proposed changes to density and height codes on Captiva was not presented to the community in an acceptable fashion, disregarding protocols that were established for such proposed changes. This happened covertly with very little time for public input.

The timeline and the CCA’s immediate response was as follows:

• On the evening of Friday, June 2, our Land Use Committee Chair became aware of the concerning agenda item that was going to be on the upcoming Tuesday’s Lee County Board of Commissioners meeting.
• An emergency CCA Board of Governors meeting was called for Monday, June 5, and from the results of this meeting a letter was drafted and sent to all five County Commissioners.
• This letter stated that the CCA Board had voted unanimously to request “that the Board of County Commissioners defer Item 8 of the Consent Agenda (Direct to Public Hearing LDC Amendments for Building Height, Resiliency, South Seas) and to not direct this matter to public hearing on June 20, 2023,” further citing reasons of concern that the changes proposed had not been properly shared with the Captiva community, by holding the meeting on June 20, when many are away and people are still dealing with hurricane impacts, community members will not have an appropriate opportunity to provide input, and that the proposed changes will have a major impact on the future of the island.
• The CCA had a representative submit the letter at the Board of Commissioner’s meeting the next day in person, but unfortunately the agenda item was passed unanimously by all five commissioners.

Now the CCA is working diligently with other community organizations to help get the word out to community members about the June 20 meeting, to learn more about what the proposed changes will entail, and inform them of ways to take action if they would like to do so.

Please read the informational letter below. Additionally, the CCA and other community organizations are working to set up a community-wide meeting, via Zoom, for early next week to help inform the community of this proposal and answer questions. The CCA will continue to send updates as soon as new information becomes available, please keep an eye out for more information.

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Click here to view the proposed draft zoning modification, initiated by Timbers and their representatives.

South Seas Resort, located on Captiva Island, is seeking an amendment to the current land development code from the Lee County Commissioners. However, the residents of Captiva are strongly opposed to these proposed changes.

Despite the destruction caused by Hurricane Ian, South Seas Resort is striving for a smooth recovery. Unfortunately, the situation at the resort is far from smooth, with the only semblance of normalcy being the presence of a Starbucks.

During the recent Lee County Commissioners’ meeting, discussions began regarding amendments aimed at enhancing the resilience of the infrastructure on Captiva. One of the proposed changes is to allow South Seas to construct taller buildings.

Michael Jacob, the Deputy County Attorney, explained, “We are introducing a new definition and measurement approach for building height in order to address the existing height restrictions specified in the land development code.” He emphasized that the height requirements for each land use category and the density regulations for Captiva would remain unchanged.

Commissioner Kevin Ruane expressed his concerns about the potential implications of the new definition of “height” and its interpretation. In response, Jacob assured that the county would prepare an exhibit illustrating the practical implications and provide some relief to individuals affected by these circumstances.

However, Captiva resident Marilyn Fredrick criticized the county’s handling of the situation, stating, “What is happening here seriously undermines the county’s credibility with the Captiva community.” James Evans, the CEO of South Seas, shared similar concerns about the lack of height restrictions.

During the meeting, Evans, as the owner of South Seas, had the final opportunity to address the Commissioners. He argued, “The starting place for height is dynamic. It changes constantly—when survey data changes, when FEMA maps change, and when building codes change. Therefore, it is continually evolving.”

It’s important to note that the proposed amendments only pertain to the South Seas Resort area and not the entire Captiva Island. The Commissioners did not reach a decision during the meeting and announced that a public hearing would be held on June 20. This hearing would provide an opportunity for neighbors to review exhibits displaying the measurements and implications of the proposed height changes.

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