The real estate market on Sanibel and Captiva is in a lull – as it is in most of the country. It was starting to look pretty solid toward the end of 2007 and we looked forward to a stronger market going into 2008. But things became a little unsettled going into the first quarter of this year. We all know about the up and down cycles of the market. We’re presently in the final throes of a down cycle and, we think, on the way out of it. Your island paradise has always been more resilient than the norm and weathered market interruptions very well --- as it will this time. You can look forward to a market that will stabilize and grow. In fact, it may be on the brink of doing so as you read this!

To summarize where we are right now compared to the same period last year:

• Total sales of houses, condos and lots in the 1stQ are down across the board. Houses are doing better than condos and those that are inland or near beach are showing the best performance. All of them are taking a bit more time to sell.

But, the market is not without its bright spots.

• People are still buying island property in spite of the slip in the market. This is due to the recognition that island property has a unique value that transcends normal measures. In addition, properties continue to be listed at about the same rate as the last year or two which indicates a solid feeling for the market. And, unlike the general market, prices have not seriously declined. This is another indication of our island’s stability.

Nobody knows for sure what the future holds. There are some experts who are saying that the market has already or is about to reach its low point and will be in recovery during this current year. The SMR Research Corp. is one of the experts. They were the first to declare (in 2002) that a housing bubble existed and would cause a market adjustment down the line. It appears they were right then and, we feel, they are right now. The market is stabilizing and getting ready to move forward.

People who buy at this opportune time will reap the benefits. There are many people who have shown interest in acquiring island property but can’t seem to get over the hurdle of market uncertainty. As a result there is a large demand that is unfulfilled. It will be satisfied when market confidence is restored. History shows that when confidence regains its luster the markets reflect it with upward movement. With market movement to look forward to, plus the lowest mortgage rates in many years and a wide variety of properties to consider, you might ask yourself if this is the right time to make that dream come true.

ANNIVERSARIES
There are some island anniversaries that are notable. SCCF is celebrating 40 years of island conservation, FISH is celebrating 25 years of service and ZONTA has racked up 20 years. Longevity in service is a good thing and they are to be congratulated. Next time hoist a few for them.

SMALL TOWN DOINGS
Well, we are approaching the quiet time on the islands. We’ve been through "season" and enjoyed all the folks who came to visit and we’re sure they enjoyed their stay at our island paradise. We hope they’ll come again. But just because season is over doesn’t mean that the island goes to sleep. There is plenty that you can do. You can visit the Ding Darling Refuge, SCCF, CROW. Enjoy our many restaurants, theatres and arts programs. There is always the beach, boating and golf. One of the highlights of the summer season is the 4th of July parade and picnic. That is a memorable event. If you’d like to get official info about upcoming events you can always go the web site for the Chamber of Commerce www.Sanibel-Captiva.org. In fact there are a number of contacts you can make right from the comfort of your own home. Some you might enjoy and help you plan your time here are:

• Ding Darling is at www.ding-darling.org

• SCCF is at www.sccf.org

• CROW is at www.crowclinic.org

• Big Arts at www.bigarts.org

• Schoolhouse Theatre at www.theschoolhousetheatre.com

MORE GOOD NEWS
The Florida Association of Realtors (FAR) recently held their mid-winter business meeting in Orlando. The Sanibel- Captiva Association attended and was recognized with an award. These meetings are attended by realtors from around the state to discuss key issues that affect the market. They also attend meetings and seminars on topics such as developing sound marketing strategies, latest computer technology and current industry trends. One of the industry trends discussed was the legislative impact on market behavior. There is a bill, recently passed by the Florida legislature, named Amendment 1 that provides property tax relief benefits – one of which is portability. It states that the Save Our Homes tax benefits can be transferred from the sold property to the newly purchased property. Florida Realtors have noted signs of increased interest from potential buyers that they attribute to this measure. The headline on a recent FAR article says, "Florida Realtors see signs of improving housing market, credit to Amendment 1. This is good news and we’re pleased to share it with you.

INNOVATIVE SERVICES FROM DAVID
We have, as you know, developed several exclusive services to help make your real estate experience as comfortable and fruitful as possible. It will be worthwhile for you to use them.

MLS NOTIFICATION - This lets you know whenever a property that meets your needs becomes available. We let you know the same day it comes on the market by e-mail.

PRICING SERVICE – If you want to know what price properties - similar to yours - have sold for recently we will prepare a written report for you. This free market analysis will help you with your pricing considerations, whether you’re buying or selling.

GOPHER ENTERPRISES - will help you find just the right condo or house to rent. We search all rental inventories throughout the islands to find just the right place that meets your stated needs. Winter Season 2008-2009 is booking up early this year. Now is the time to make your Sanibel-Captiva Islands Reservations.

If you would like to learn more about these services and how they can help you just go to my web site www.schuldenfrei.com. Click on the link to the service that most interests you.

FUTURE NEWSLETTERS
Over the next few "Schuldenfrei Report" Newsletters we will be transitioning to an "On-Line" version. This allows us to provide you an expanded version with more detailed information and on-line links to related topics giving a more enjoyable reading experience. It also allows us to do our part towards producing a "Green Product" and helping the environment. In order to receive future "Schuldenfrei Reports" via email, please fill out and mail the enclosed response card. Please print your name and e-mail address clearly. You can also just send me an email requesting to be put on the "Schuldenfrei Report" email list.

LET DAVID SCHULDENFREI HELP YOU!
Just call when you need effective real estate experience. I am prepared to help you sell your property or buy a property or rent. I’ve been successfully helping clients and customers for over 30 years so I know this island very well. Let me help you. Just call, write, fax or e-mail me and I will serve you with confidentiality and knowledge – and my promise of results."