Island Real Estate Market Bottoming

I think we are finally at that critical moment where the supply and demand are becoming balanced. Our company's property sales are already 3 times last year's numbers and we may be at as much as 5 times by years end. In a nutshell, the North Captiva Island homes and lots that are priced at 2001 prices are starting to move. Some of the homes are selling for less than what it would cost to construct the home and not including the lot, so it is like getting a free lot with the house. Because there is so much supply on the market and with more pressure from foreclosures and short sales, it will take quite a bit of time ( several years?) to work off the excess. But at these affordable prices, it is a great time to buy your retirement beach house or a vacation home. You could spend some valuable time with your family. In this deflationary economic environment full of strong headwinds against appreciation of almost all asset categories, quality time spent with your family may be your best investment.