SEPTEMBER 2008 Newsletter Summer season is normally slow, with most of our real estate activity occurring from January to June of each year. But this season was surprisingly active for us. We sold three single family residences and two coach homes during the summer months. Now that prices have come down, and the market has stabilized, buyers are getting back in to take advantage of some really great deals. Naples is showing signs of a favorable rebound from the sluggish sales of the last couple of years, and as always, we promote Naples Lakes as one of the best buys around. Amendment 5, the sweeping property tax amendment which would lower our taxes by 25-40% will not be on the November ballot. The Supreme Court ruling will not be released for a few weeks. Naples Market On the brighter side, over the past two months, the inventory levels have dropped by 3,000 to just over 10,000 units in the Naples market, while pending sales have risen monthly to levels that equate to the sales in 2006. Similarly, Marco Island’s inventory has reduced to 1,000 units with pending sales following the same path. Consumer Confidence has increased the past months for the first time since early last year. This is an important measure as consumer spending accounts for over one-third of the US economy. It also means that Americans have comes to grips with the economic picture. President Bush’s signing of the Mortgage Relief Bill to aid 400,000 people holding mortgages, has indeed added to this confidence. RENTALS We have been receiving calls about rentals and the rental market, so to assist those who may want to rent for the upcoming season, the following units are available. If you or your friends are interested, just call the owner at the number listed, and make your own rental deal. The following are all in Naples Lakes CC which has the Palmer Signature Golf Course, club house, tennis, fitness center. Most units have a 2- car garage and are turnkey furnished. 1,772sf 3/2 Condo looking south over the 17th fairway CONTACT --847-995-0826 2,063sf 2/2/den Coach home looking north over the 18th fairway CONTACT --630-495-4770 1,669sf 2/2/den Condo looking south over the 17th fairway CONTACT --810-220-2970 2,030sf 2/2/den Coach home looking west over lake CONTACT --734-812-8915 1,497sf 2/2 Condo looking north over 15th tee and green CONTACT --248-465-0474 2,184sf 3/2 Carriage looking east over 1st fairway and green CONTACT --239-774-1914 The Enclave of Naples – a gated community with easy access to beaches and downtown. The condo is 3/2 with lake view. It has granite counter tops and marble bath vanities. Has pool, fitness center, & indoor racquet ball. CONTACT is 239-732-6660. Websites that may be of interest. www.fdic.gov/edie tells you how much of your money is protected above $100,000 www.realtytrac.com tracks default notices, auctions, sale notices & bank repossessions www.nhc.noaa.gov tracks all hurricanes in Atlantic – updated frequently Big Ten Football Fans – Comcast has added a Big Ten Network to its Sports package of 13 varied sports. Cost is $5/month Pool owners – found out by coincidence that your pool heater should be cleaned routinely, as dirt attracts to the tubing. Fee is inexpensive and will improve the heater significantly. Call Comfort Tech at 239-432-1500 for more information. 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 239-793-6493. 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 where you can find all types of information including a nationwide MLS plus Naples Lakes active listings updated weekly.