FALL 2009 Newsletter    Real Estate There are a number of positive factors, which are giving strength to the real estate market. Home pending sales rose for the third consecutive quarter – up 1.6% countrywide. Florida pending sales rose for the fifth straight month, with home sales up 28% and condo sales up 48% over a year ago. Pending sales fell slightly in Naples from last month while Marco Island experienced an 87% increase. Naples Lakes County Club had two pending sales last month, which is about average. For the first three quarters of 2009, Naples has sold 4,722 properties, Marco Island 633, and Naples Lakes has had 19.    Prognosis Fed Chairman Bernanke suggested, “the recession is over which means the downturn has ended”. He also stated “interest rates will stay low for an extended period”. Interest rates have reached sub percent levels, for the second time this year. The University of Florida economists predict “baby boomers will be the salvation for the Florida Real Estate market for the next 15 years”. Others indicate that the foreign buyers will be returning to southwest Florida now that a turnaround in prices is indicated. Record low interest rates, the stock Market indicating strength and even durable goods increased last month – the largest increase in over two years lend credence to these statements. The Florida Consumer Index showed a three-point increase for the second straight month, with only one of the five segments showing a decline. That was “expectation of personal finances a year from now”. The Index credits no new set backs in the National economy as well as interest rates and the Stock Market as the reasons for the increase.    Of Local Interest Naples/Marco Island were rated second nationally for Personal Income per capita at $63,349 – an increase of 1.7% from a year ago. Stanford, Connecticut was first with $82,266. The survey also showed that Tampa and Jacksonville were two of the five slowest growing metro (over one million people) areas in the nation.    Marco Island has located $23 million of stimulus money to build a second bridge to the island. This two lane with sidewalk structure is to be completed by February of 2012. The current bridge, built for 10,000 vehicles a day is experiencing 30,000 per day.    Lowes will be building an 116,000 square foot building and 28,00 square foot nursery center at the intersection of 951 and 41 in the Eagle Creek Shopping Center. They will be hiring 175 people to staff the store, which is scheduled to be completed in the 4th quarter of 2010.    Although not yet lit, 951 (Collier Boulevard) now has streetlights from route 41 to the entry to Interstate 75. The paving of 951 is also nearing completion.    Recent closings in South Naples include K-Mart and Rex Electronics on the East Trail. Additions include the Library and Emergency Operations Center on Cultural Boulevard (across from the hospital entrance). A new Lutheran Senior Center is scheduled to be built across the street from the Library in the next few years.    The Hurricane Center in Miami predicted thirteen storms this season with eight hurricanes and two of them major. Three were to touch the US on the northern East coast. With just over a month to go in hurricane season, we have been most fortunate – with some concerns, but no hurricanes. Check out www.nhc.noaa.gov to see a hurricane map of the area, giving coordinate updates every three-four hours as well as a five-day projection. It can display information for either the Atlantic or Pacific regions.    Our Website Click on (www.naplesgolf-marcobeach.com) to view all the great Naples Lakes properties. We currently have an array of multi-family and single family homes available. Prices range from $220,000 to $549,000 with square footage from 1,394sf to over 2,400sf. In addition to reflecting our listings on Marco and in Naples, local websites and Realtor.com expanded listings, we just added another 31 sites to gain even more exposure. Remember the Naples Lakes Country Club listings are updated every Sunday morning. We also have revamped the website to make it more user friendly in locating the information you desire – be it Real Estate or Rentals. The Home page now lists all categories of interest for easy access. Check it out.    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 don’t 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.