Pelican Bay has been lit up for the holidays since right after Thanksgiving.  Each subdivision within Pelican Bay has had their holiday lights illuminating their entry ways also.  The palm trees at the entry to Bay Colony are something to see.  I am hoping that you have had a chance to visit Pelican Bay over the holidays.  My husband Don and I were able to enjoy a walk down to the beach on Christmas Eve.  My poor relatives and friends in Chicago were dealing with snow and cold weather on Christmas Eve!

Today we took a walk down to the beach in Pelican Bay and had a late lunch.  The beach was filled with the umbrellas of residents and visiting family and friends.  The week between Christmas and New Year's is usually a busy time at the beach.

The media has really been pounding away at how horrible retail sales have been this holiday season.  While I feel for the stores, it is also nice to have the media spot light on another industry besides real estate.  There is no doubt that this was a dismal holiday season for the stores.  The Naples Daily News reported this morning in an interview with a Waste Management employee that garbage pick up in Naples Park the day after Christmas was almost like a normal garbage day.  The lack of boxes being thrown away points to how little consumers spent this holiday season in the Naples Park area.

How are the restaurants faring?  I wonder.  The last few times that I have been in a restaurant lately in Naples I have not had to wait for a table.  If you have ever tried to get into a restaurant in Naples around the holidays, you are usually faced with a wait unless the place takes reservations.

What will happen this coming season in real estate?  That is a good question.  I have a crystal ball on my desk and that ball is always cloudy!  Let us take a look at what has happened since November 22nd in Pelican Bay.

Pelican Bay Real Estate 11/22-12/27/2008

The first thing I can see is that our inventory is increasing from the last time period.  I would guess that more owners are coming back into town thinking that they will test the market.  I have said this numerous times but it bears repeating, IF YOU REALLY DO NOT HAVE TO SELL YOUR PELICAN BAY UNIT, DO NOT PUT IT ON THE MARKET.  More listings coming onto the market and less sales increase our inventory and our turn over periods for that inventory.  The last time I checked we had roughly about a 14 month supply of listings in all categories.  A "normal" market is supposed to have a six month supply of inventory.  We need to sell some of the inventory we already have to make some progress.  The bottom line is that in order for a unit to sell, it has to be priced reality not in fantasy land.  The market is what the market is and it is a buyer's market at present. Though the real estate market may be bleak for some sellers, people need to remember that real estate is cyclical.  In the 30 years that I have been in real estate I have seen the market up and down and over and out.  Sellers, if you do not have to sell, hang in there.  The market will take a while to come back but it will come back.

Where ever you are this holiday season, I hope that you are able to enjoy the holidays with family and good friends.  I wish you all a happy and healthy New Year.