A Buyer's Market?

If you've spent any time here in Southwest Florida, you know how real estate tends to overshadow almost everything. It plumps up Sunday newspapers' real estate sections to some of the largest in the country and dominates many cocktail conversations as talk inevitably turns to recent multimillion-dollar sales and listings. "There is no other town likes Naples, Florida. Not even in California," says long-time Southwest Florida realtor Lodge McKee III of Premier Properties of Southwest Florida. "This is a real estate town and part of the sport of living here is having knowledge of real estate and real estate dollars."

Everything, it seems, revolves around real estate. And that's good news, whether you're buying or selling here. Our market is unique, a microcosm of prosperity, accelerating property values and smart buyers. When talk arises elsewhere of bubbles bursting and stagnant sales, we know that the next happy-hour gathering at the club may just as well determine the next big sale. "Prices in Naples are often determined by cocktail party discussions," says McKee, who's been selling property here for three decades. "Neighbors talk about George selling and how they don't want George to lower his price. They'll tell him so-and-so got X amount of dollars and that he shouldn't accept any less.'"

Not to say that we are immune to the home-selling woes that have gripped other parts of the country. But that's merely a reflection, says McKee, of the downward tick of the real estate pendulum. It's part of the normal cycle of buying and selling a home in paradise, one that every few years or so swings in favor of buyers-good news for our readers. Fort Myers-based agent Denny Grimes, of Denny Grimes & Co., notes that the $250,000-and-under market (comprised largely of families) is red hot right now in Lee County, with an inventory of five months and just two months in some cases. "Above $250,000, and inventory climbs as high as 40 months, yet, we have had more million-dollar sales this year and are on a pace to shatter the record," says Grimes. He describes the softening in the upper level as a "pause in the market," one that momentarily favors buyers. Sellers, he says, "aren't able to pick a number out of the sky and get it. That's good for buyers and good for sellers because it's not an irrational market."

Whether you're new to town or have vacationed here for years, understanding the sometimes subtle complexities of the local real estate maze can be challenging, especially when you've finally made the decision to buy. Although there is plenty of information elsewhere regarding current for-sale properties, Homebuyer is the comprehensive relocation guide for Southwest Florida. In it you'll find listings of all the new communities and builders, plus a major new section showcasing all of the wonderful neighborhoods throughout Charlotte, Collier and Lee counties-places you'll fall in love with. We also spotlight the best in the business, highlighting all of the winning architecture, building, interior design and landscape design entries from regional and local awards contests- some of the best homes in the country.

Remember while you're out their house hunting to pay close attention to the hushed conversation at the next table or by the resort pool. You may just learn that that home you love could very well be on the market.