We continue to hear how the dollar is declining in value against foreign currencies. This makes the dollar a value for our friends from England, Germany, and Canada.

RELATED STORIES

• Sign of recovery? Several realty agencies adding Naples offices

More Real Estate news

• Fla. lenders halt new foreclosures for 45 days
• Foreclosures down in Lee
• Richard White: Property insurance wording in state law changing

Tell us about it

• What would you add to this story? Tell us what we missed.
• Do you have photos from this event? Documents we need to see? Share with us.
• Upload photos & videos
• More ways to get your stuff online and in the paper.

STORY TOOLS

• E-mail story
• iPod friendly
• Printer friendly

Share and Enjoy [?]

Harriet Johnson-Brackley, a journalist with the Sun Sentinel, recently published some interesting facts on the positive impacts of the dollar in the Ft. Lauderdale area. First, she provides a comparison of the Canadian dollar in the following manner, “Five years ago the Canadian dollar was worth about 63 cents against the U.S. dollar; January 2007 the worth changed to 85 cents against the U.S. dollar; December 2007 the Canadian dollar is almost equivalent to the U.S. dollar.”

Second, Ms. Johnson-Brackley provides some interesting figures on the increased traffic into her local airport in Ft. Lauderdale. The number of international air passengers has increased dramatically, almost a 45 percent increase, from the same time in September 2006.

How does the international market impact Marco Island?

Let’s consider the National Association of Realtors (NAR) report that Florida leads the nation in purchases by international buyers.

As we experience an increase in visitors from other countries into our area, the sheer volume coupled with the increased value of their money makes real estate in our area a more desirable option.

This is evident by a contract this past week on an estate property on Marco Island by a couple from England. The couple plans to follow their friends here as seasonal residents. As our future homeowners departed on Sunday, they left 80 degree weather in Ft. Myers and returned to a high of 45 degrees in England.

As many areas of the United States crawl out of their recent snowstorm and foreign visitors increase their travel to the area, many realtors on Marco Island and Naples report an increase in inquiries and showings.

While the current sales comparisons show a slight decrease in year over year sales of 3.87 percent, the current pending sales versus annual sales total is positive at 9 percent.

This means that Marco Island has 9 percent of its properties under contract to close (without contingencies) in comparison to the total number of sales for time period of Dec. 10, 2006 to Dec. 10, 2007.

The pending sales chart shows percentage of pending sales that can be found in the homes, lots, and condos.

“Under $500,000 represents 44 percent of the pending sales; $500,000 to $1,000,000 represents 24 percent of the pending sales; $1,000,000 to $2,000,000 represents 20 percent of the pending sales; properties priced over $2,000,000 represent just over 11 percent of the pending sales.”

Another positive note for Marco Island is the gradual decline in inventory at 3.88 percent. Overall, inventory levels remain at higher than desired levels.

Another area experiencing an increase in activity is the $1 million home market in Fiddler’s Creek which has seen four homes priced over $1 million go pending since Nov. 30, 2007.

Buyers, today, have the opportunity to choose from a greater number of properties, than in previous years, but as the current market trend continues, the availability of homes will diminish as will selection.

---

Natalie Kirstein, MBA, Realtor, works for Premier Properties of Southwest Florida Inc at The Esplanade. She can be contacted at NatalieK@premiermail.net or 784-0491.