New 230 acre Park/Preserve on Pine Island, FL

Spring has come with lots of wind and some rain, grass growing green. Here's couple pictures of riding (my friend Lisa/mare Baby) out in beautiful Bokeelia, and my backyard gopher tortoise. Pine Island is such a beautiful place to live and enjoy the beauty of nature. I was interested to learn there will be a new 230 acre park/preserve on Pine Island, complete with elevated nature trail, canoe and kayak launch, picnic pavilion and lake, also a fishing pier, restrooms, bike rack and parking. This was announced last week by the Sarasota Conservation Foundation. The property is approximately opposite Flamingo Bay in St. James City from Stringfellow Road to Matlacha Bay. Hopefully, this will be another example of native land preserved for public use on Pine Island, without another motive. . .stay tuned. The website for the Sarasota Conservation Foundation is sarasotaconservation.org.

Happy 2009 From Pine Island

Greetings on a beautiful, sunny and 70's New Year's Day from Pine Island, Florida. I am excited about beginning a New Year and am convinced that 2008 marked the turning of the lowest point in the Pine Island Real Estate Market since 2003. Total dollar volume for Pine Island Real Estate Sales in 2008 (for real estate sold through the multiple listing service) was $50,843,760. This represented 244 real estate transactions. The dollar volume was about 1 Million Dollars less than in 2007, but the number of real estate transactions increased by 20, so the number of sales on Pine Island was up nearly 10% for 2008 over 2007.

Look for a complete breakdown of all Pine Island Real Estate 2008 sale statistics this coming weekend. Meanwhile, here are some photo's I took at the Pine Island Airport "fly-in" this week.

All the best in 2009 to my readers, Sincerely, Erika Foye, Real Estate Broker, All Island Realty, Inc. (www.pineislandhomesandland.com)

Third Quarter 2008 Pine Island Florida Real Estate Sales

The current economic uncertainty translated into fewer sales on Pine Island during the 3rd quarter of 2008. The dollar volume of sales was down over 50%, to $9,722,750. in sales. The number of sales was also down, with only 43 sales as opposed to 64 sales in the 2nd quarter of 2008.

Here is the breakdown: 1 Waterfront Condominium sold for $315,000.

1 In-land Condominium sold for $83,400.

13 Waterfront Homes Sold - Median Price $297,000.

7 In-land Homes Sold - Median Price $255,214.

10 Manufactured Homes Sold - Median Price $150,000.

(most of these were waterfront)

4 Waterfront Lots sold - Median Price $232,450.

7 Inland Lots sold - Median Price $39,750.

The silver lining is for the most part, asking prices are steadily dropping to near what recent properties have sold for. Here is what is for sale in the Pine Island communities of Bokeelia, St. James City, and Matlacha right now:

22 Duplexes Median Price $294,000.

18 Condominiums Median Price $326,450.

133 Waterfront Homes - Median Price $449,000.

91 In-land Homes - Median Price $225,000.

88 Manufactured Homes - Median Price $150,000.

256 In-land Lots - Median Price $66,500.

127 Waterfront Lots - Median Price $241,000.

This is the best time to buy property on Pine Island since 2003! For more information about Pine Island Real Estate, go to http://www.pineislandhomesandland.com/. Here's a picture of a little fishing boat, staying afloat, in Bokeelia. I think our local real estate market will also stay afloat, though on a smaller scale than in the past several years. Sincerely, Erika Foye