Trumparilla Boat Parade kicks off in Fort MyersThe Weather Authority: Hot temperatures, rain, and we’re watching the tropics
FORT MYERS Trumparilla Boat Parade kicks off in Fort Myers The Lee County GOP is hosting the Trumparilla Boat Parade in support of the Republican nominee.
Southwest Florida The Weather Authority: Hot temperatures, rain, and we’re watching the tropics Get ready for a typical Southwest Florida weekend. It’s going to feel like the triple digits before rain rolls in and we’re watching the tropics.
ALVA Woodpeckers build home in Alva woman’s house You may have heard of squatters, but this woman is dealing with squawkers. Who needs a rooster to wake up when you have woodpeckers?
FORT MYERS Man claims he was trapped in a high-rise for 5 days A 77-year-old man wants justice after he claims he spent days trapped on the 24th floor of a high-rise apartment building.
PUNTA GORDA Charlotte Correctional prisoner charged for death of another inmate State Attorney Amira Fox convened a grand jury, which decided to move forward with a case against a Charlotte Correctional inmate.
SANIBEL Construction near Dairy Queen eagle nest on Sanibel raises concerns While many eagle nests may be a bit difficult to see, one nest has always been a favorite for Sanibel residents and tourists.
The environmental effects of artificial sweeteners Experts are studying how the foods we eat affect the environment, especially after we flush our waste down the toilet.
Victim reacts to man exposing himself to her Ring camera You get a notification on your phone from your ring camera app that someone is at the door, only to find out it is someone exposing themselves. It’s the last thing victim Maria Kivi wanted or expected to see last week.
LEE COUNTY The art of capturing your eye and drawing you in How do you capture young, hip, trendy, fun, movers and shakers, all in a pose? We take you behind the scenes of a Gulfshore Life cover shoot.
FORT MYERS The lives of two SJC Boxers changed in the ring Two SJC Boxers, Mario Nunez and Arbon Kurtishi, help each other in the ring as each of them had their lives changed because of boxing.
FORT MYERS Chlamydia cases rising sharply in Lee County If you think about a crowded space- something with more than 250 people- if it’s in Lee county, statistically one person has chlamydia.
SANIBEL Sanibel resort day passes hope to get more business on the island A pass will allow vacationers to hang out at a Sanibel beach club for a day in hopes of drumming up some business.
Voting equipment tested ahead of Lee County elections Voting equipment is being tested in Lee County. This is to ensure all ballots are printed and counted correctly for the upcoming election.
Collier County teen assaulted after leaving party The teen has been charged and the sheriff’s office said they’re aware that many believe felony charges are in order, but under Florida law, there are very specific criteria that must be met for felony charges to be filed.
WINK weather team watching tropical wave over Atlantic Ocean The Weather Authority is watching a tropical disturbance over the Central Atlantic Ocean.
FORT MYERS Trumparilla Boat Parade kicks off in Fort Myers The Lee County GOP is hosting the Trumparilla Boat Parade in support of the Republican nominee.
Southwest Florida The Weather Authority: Hot temperatures, rain, and we’re watching the tropics Get ready for a typical Southwest Florida weekend. It’s going to feel like the triple digits before rain rolls in and we’re watching the tropics.
ALVA Woodpeckers build home in Alva woman’s house You may have heard of squatters, but this woman is dealing with squawkers. Who needs a rooster to wake up when you have woodpeckers?
FORT MYERS Man claims he was trapped in a high-rise for 5 days A 77-year-old man wants justice after he claims he spent days trapped on the 24th floor of a high-rise apartment building.
PUNTA GORDA Charlotte Correctional prisoner charged for death of another inmate State Attorney Amira Fox convened a grand jury, which decided to move forward with a case against a Charlotte Correctional inmate.
SANIBEL Construction near Dairy Queen eagle nest on Sanibel raises concerns While many eagle nests may be a bit difficult to see, one nest has always been a favorite for Sanibel residents and tourists.
The environmental effects of artificial sweeteners Experts are studying how the foods we eat affect the environment, especially after we flush our waste down the toilet.
Victim reacts to man exposing himself to her Ring camera You get a notification on your phone from your ring camera app that someone is at the door, only to find out it is someone exposing themselves. It’s the last thing victim Maria Kivi wanted or expected to see last week.
LEE COUNTY The art of capturing your eye and drawing you in How do you capture young, hip, trendy, fun, movers and shakers, all in a pose? We take you behind the scenes of a Gulfshore Life cover shoot.
FORT MYERS The lives of two SJC Boxers changed in the ring Two SJC Boxers, Mario Nunez and Arbon Kurtishi, help each other in the ring as each of them had their lives changed because of boxing.
FORT MYERS Chlamydia cases rising sharply in Lee County If you think about a crowded space- something with more than 250 people- if it’s in Lee county, statistically one person has chlamydia.
SANIBEL Sanibel resort day passes hope to get more business on the island A pass will allow vacationers to hang out at a Sanibel beach club for a day in hopes of drumming up some business.
Voting equipment tested ahead of Lee County elections Voting equipment is being tested in Lee County. This is to ensure all ballots are printed and counted correctly for the upcoming election.
Collier County teen assaulted after leaving party The teen has been charged and the sheriff’s office said they’re aware that many believe felony charges are in order, but under Florida law, there are very specific criteria that must be met for felony charges to be filed.
WINK weather team watching tropical wave over Atlantic Ocean The Weather Authority is watching a tropical disturbance over the Central Atlantic Ocean.
Location no longer matters in Southwest Florida, residential real estate has cooled, but the fire’s still burning. And Hurricane Ian reinvigorated coastal markets despite destroying so many properties. Those were three of the many takeaways generated Tuesday at the Market Trends of Southwest Florida real estate event, which drew more than 1,200 people to Caloosa Sound Convention Center in downtown Fort Myers. “The future ain’t what it used to be,” was this year’s theme, and the phrase adorned the cover of an 88-page program packed full of data. The data included Babcock Ranch as the fastest-growing new home community in the region, said Randy Thibaut, the first of three presenters and founder of LSI Companies, a regional real estate brokerage company. There were 1,407 new homes permitted there last year with Ave Maria ranking second with 806 and Westport in Charlotte County third with 515. “Our market has changed since COVID,” Thibaut said. “It’s no longer about location, location, location. It’s about availability, price and higher ground. We see Babcock Ranch, which is the fastest-selling community in Southwest Florida, and the fifth-fastest growing in the entire United States. Which has changed the dynamics completely around.” Residential permits rose by 3.8% from 2021 to 2022, from 25,183 to 26,147 permits, according to data pulled by LSI. Multifamily permits rose by 62% in Lee County and 57% in Charlotte County and decreased by 18% in Collier County. “We expect multifamily permits to level off,” Thibaut said. Build-to-rent communities like Soltura will be on the rise. “When pricing hits a wall, and interest rates are high, build-for-rents are in,” he said. Also, look for Charlotte County to trend upward in development data. “Charlotte County, here we come. Why?” he said. “Affordable land and availability.” Thibaut, Denny Grimes of Denny Grimes & Team and Justin Thibaut, CEO of LSI Companies each incorporated into their presentations that rising interest rates have cooled real estate markets across the region, but regional real estate seems to be outpacing the rest of the country. Grimes focused on the resale housing market. He started his presentation showing an early scene from “Top Gun: Maverick” when Tom Cruise’s character takes his jet to Mach 9, then inches it all the way to Mach 10 before going for even more speed. Ultimately, the jet fizzles out at Mach 10.4. “Did we push it too hard?” Grimes said of 2021, which was the best real estate year on record for sales. “Did we take it too far with the market?” Maybe, maybe not. But the market forces of rising interest rates, from 3.8% to 5.34%, to 5.97%, to 7.81% finally hampered the buying power of homebuyers, slowing home sales. In Lee County from 2021 to 2022, single-family home sales dropped by 19.5%. Collier sales fell by 31% and Charlotte by 9.3%. The median sales price rose to $416,250 in Lee, $775,000 in Collier and $389,450 in Charlotte. “What happened?” Grimes said. “I’ll tell you what happened. It’s called the [Federal Reserve]. But we have to keep things in perspective.” In 1982, when Grimes was in high school and had a mullet-style haircut – he showed the photograph on the screen – interest rates were 16%. At some point, Grimes said, interest rates would fall again and prices accordingly would rise. Grimes also expected high-rise condominium buildings to increase. “High-rise living,” Grimes said. “When low-rising living is unavailable or unaffordable, high-rising living goes on the rise.” Justin Thibaut concluded the presentation, giving a rundown of commercial real estate broken into hospitality, industrial, retail and office segments. “The whales – cash buyers – in our market are back,” Thibaut said. “But they have a different target now. Coastal properties.” Hurricane Ian wiped out about 75 coastal hotels and 3,400 rooms in Lee County alone. “Today, less than 200 rooms are available,” Justin Thibaut said. “OK. We have a major problem on our hands. Let’s build it back.” Building it back will prove costly for the developers, costs that later would be passed on to vacationers. The Margaritaville Resort, slated to be completed by the end of this year on Fort Myers Beach, eventually would be a “mid-range” property, not an elite one, he predicted. “I’m not trying to be a downer here,” Thibaut said. “It’s just a reality.” Industrial has overtaken office as a safer real estate bet, he said, as occupancy rates eclipsed 98% in the tri-county area, with rents hovering close to $11 per square foot in Lee and Charlotte counties and $14.87 per square foot in Collier. By comparison, office occupancy hovers at close to 95% in Lee and Collier and 97.4% in Charlotte, with rents at $19.77 per square foot in Charlotte, $22.48 in Lee and $31.15 in Collier. “Rents and occupancy are trending upwards in all three categories,” Justin Thibaut said. “We’re seeing interest rates, we’re wondering what’s going to happen next. My thought is that it’s probably going to get a little worse before it gets a little better. But, at the same time, coming out of Hurricane Ian, we have been reinfused with cash buyers. So, we’re going to see a lot of really high transactions, high volume, big deals happening this year.”