NOVEMBER 2008 Newsletter We have seen a slow down in Real Estate activity in the past 30 days, but that is the norm for this time of year. It will probably stay soft until Thanksgiving and then pick up again peaking at the start of season. We really think that this season will bring the Investors to the fore due to the volatility of the Stock Market as well as seeing an increase in the number of foreign buyers. Economists indicate we have reached bottom in the residential market, and prices have stabilized in southwest Florida with prices about as low as they are going to go. This is holding true as Florida sales were up 24% over a year ago last month while Naples was up 15% (up 51% in September) and Marco Island was up 70%. Even the Mortgage rates dropped for a second straight week and the Consumer Confidence figures are holding steady. All indicate we will probably have a good season for Real Estate in 2008-09. From a personal standpoint, we are averaging over 30 guests a day visiting our website and our expanded listings on Realtor.com are receiving over 100 views per day. What else is happening----- # The Federal Emergency Management Agency plans to redo all the Flood maps which will require more people to buy Flood Insurance. It appears that our areas will not change. # The Amendment for tax exemptions for residential hurricane proofing and energy efficiency improvements passed by the narrowest of margins. # The rumor of all structures with a value of over $750,000 requiring hurricane protection in 2009 will apply only to policyholders of Citizens Insurance. # For Social Security recipients, the news for 2009 is great. All will receive an increase of 5.8% - the largest increase since 1982. This is primarily due to rising inflation to greatly surpass the 2.3% of 2008. Additionally, the Medicare premium will remain at $96.40. # A new citizen initiative for the 2010 ballot would cap property taxes at 1.35% of the highest value of a home. # A Super Target is scheduled to be built near the Wal-Mart at 41 & 951 in ‘09. An Outback is also being proposed somewhere in the 951 corridor. # A Lutheran church Retirement Community is planned at the corner of 951 and Lely Cultural Blvd. # A website that may be of interest is www.adultfitness.com which compares yourself with others your age and assists in designing a Get Fit Program for you. With all the talk about ‘being at the bottom’, ‘prices were never better’ (especially for single family homes) and the like, we want to share a portion of the poem “A Reluctant Investor’s Lament” with you. “ ….. 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……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.’” We will continue to assist those who wish to rent or locate a rental property in the area. For the past few months we have listed specific properties and most received favorable responses. We will continue to hold onto these listings and give it to anyone who has an interest. If you or your friends are looking for a rental, please let us know and we will assist in any way we can to satisfy your need. Check out our website (www.naplesgolf-marcobeach.com) to view some great properties of interest. We currently have an Estate home in NLCC at $799,900 turnkey furnished with 3/3/den, 2-car garage, pool and spa with an Eastern view across the water and golf course. We also have two Villas that are turnkey furnished at $619,000 and $594,900 and condos ranging from 1,394sf to 1,772sf ($265,000 to $399,000)– all with great views. Coach homes (2/2/den, 2030sf) are available in the $4’s and Carriage homes with 1,672-1,908sf are priced in the low to mid $3’s. Also have Direct & Indirect residential building lots on Marco Island. So check them out. More will be added to the list as we approach season. We continue to be the Number 1 Realtor in Naples Lakes CC with over 80 sales to date. 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.