APRIL 2008 Newsletter. The season is coming to an end. The end is a moving target based on the degree of warmth up north. The colder it is up north, the longer our season. Sales are increasing monthly since January, which equates to the activity of 2006. So, things are on the way back. We have personally added two Estate homes in Naples Lakes to our pending sales so far this year. We now have five homes awaiting closure. And, we have customers still deciding which property they will invest in. There are also many investors out there with money – which is an essential ingredient for a growing economy. When they are confident that their investment will grow, they will return. We are at that point now. Interesting, that with a declining market, vacation & investment home sales still accounted for 33% of existing and new home sales last year. (21% investment and 12% vacation). The Chief Economist for the National Association of Realtors theorizes that lifestyle factors and strong demographics remain positive for the vacation home market, with investment consideration secondary. Also of interest is that the typical vacation homebuyer is 46 years old with a median income of $99,000 and 41% of vacation sales are occurring in the south. This trend is expected to continue into the foreseeable future. Additionally, because of the strong Canadian dollar, the majority of Canadians are buying up property in the US and primarily in Florida. NOW is the time to buy. Low interest rates, multiple choices, motivated sellers and an inventory that will disappear. Does not get much better than that. An anonymous author of “A Reluctant Investor’s Lament” starts out with…”I hesitate to make a list of all the countless deals I’ve missed; Bonanzas that were in my grip, I watched them through my fingers slip” and ends with …”At times a teardrop drowns my eye, for deals I had but did not buy; and now life’s saddest works I pen – ‘If Only I’d Invested Then’ ” The taxation and Budget Reform Committee that meets every 20 years has the power to put on the ballot, proposals it believes are needed to prepare the state’s tax and budget system for the next two decades. This November they are proposing the elimination of the school portion of all property taxes – to be replaced by a 1% increase in the State Sales tax. The tax would also be expanded to include services such as charter boats, limos, entertainment tickets, dry cleaning, etc. Commission member John McKay (former Senate president) indicates that this is “an attempt to change the structure and make it more fair and resilient.” The pace of collapsing Mortgage Companies has slowed, suggesting that the crises has bottomed out and banks have regained their footing – according to the Mortgage Graveyard – that follows failed, ailing and acquired lenders. There were 22 failures in the first quarter of ’08 of companies that employ a minimum of 50 people. In ’07 there were 148 failures, which puts 2008 on track for less than 90 for the year. If you have an interest in a report on the failed companies, go to www.MortgageDaily.com REMEMBER…if you will be leaving to go up north, make sure you properly close down your home before you leave. Refer to our website and the “Resource” header then to “Other Sites and Information” to the check list for “Closing Up your home”. Print it out to make sure you complete all items. REMEMBER…if you need assistance or have questions about your investment in Paradise or any other property in the area, please give us a call at the above number. We will be happy to provide any information you may need when making a Real Estate decision. And, do not forget to visit – and make part of your favorites – our website at www.naplesgolf-marcobeach.com.