DECEMBER 2007 Newsletter WELL…The Thanksgiving Holiday certainly went by quickly, with Christmas only a few days away. The two weeks before Thanksgiving we saw an increase in traffic – specifically in the single-family homes. Since then things have slowed down again. Historically, that is the pattern, and it picks back up again after the first of the year. In light of all the negative press, we still have people interested in looking at property. One of the primary reasons – other than lower prices than last year – is the fact we have been “hurricane-less” this past season of May –November. Tourism showed 21 million people from July 1, to September 30, visiting Florida. That is an increase of 4.8% over the prior year. Hotel bookings were also up 5.7%, and as we said last month, arrivals at SW Florida International airport were up 9.3%. Economist, Hank Fishkind, reiterates that outside of the Miami Beach condo market, the Florida housing market hit bottom and is on the way back to a slow recovery to normalcy. He also reports that the Florida growth factors are positive, as retirees and working families continue to migrate to Paradise. Wayne Archer, Director of University of Florida Center for Real Estate, also indicates “It doesn’t look like prices are going to fall anymore”. When prices maintain the same level as inflation, then we are probably in an equilibrium – indicating the market is stabilizing. Further, foreign investors are trying to invest more capital in the States – especially the rental market. Two other factors to consider: 1) continuing low mortgage rates remain a positive influence on the Real Estate market. 2) The Feds cutting the interest rate multiple times this year to energize the economy. Things are not as they used to be 18 months ago, but they are improving – almost daily. If you missed the proposed new Tax proposal to be voted on January 29, 2008, refer to our November Newsletter (in our website www.naplesgolf-marcobeach.com) – which outlines the changes. Additionally, the Tangible Property Tax is proposing an exemption for businesses of $25,000. This will exempt about one million of the 1.2 million businesses in Florida that are paying a tax today. The proposal also drops the requirement to file the PPT form. I understand that the law for mandatory hurricane protection for any home over $750,000 is to take effect July 1, 2009. If you fall in that category you have time to react. Governor Crist promised to make Florida government more accessible to the public. So…..a new website has been established to accomplish that end. “Florida Performs” compiles data from a variety of sources to provide a synopsis of the Florida’s current state of affairs in major issues. It cites the bad as well as the good. The site explains the importance of each issue and what, if any, state government can do about it. If you have an opinion, visitors can e-mail the Governor and tell him their thoughts. So check out the website at www.floridaperforms.com. You can also find this website in our site under the Resource section - State of Florida. Visit us at www.naplesgolf-marcobeach.com Needless to say we thank you for all your interest and support and wish everyone a most blessed CHRISTmas and a happy, healthy and prosperous New Year.