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New real estate report could mean shift in Southwest Florida market

By Althea Paul, WINK News

It's been about six months, and Fran Gregg's Cape Coral house is still on the market.
"I kept carrying around my cellphone waiting for it to ring, and it didn't ring," said the homeowner.
Gregg has since knocked off more than $100,000 and gotten a real estate agent. She says things are looking up and one recent piece of news has her even more convinced.
"We're very hopeful that it is improving now," said Gregg.
Tuesday, the Naples Area Board of Realtors released a report. It's the first of it's type they've ever done, broken down by price and zip code, on data from December '07.
"The results were quite positive. I believe everyone is a bit excited at this point," said NABOR president-elect, Brett Brown.
It states that overall pending sales in greater Naples were down by only two units compared to December '06. It also found that the sale of homes less than $300,000 were up, and overall sales in this market jumped 33%.
"What we're really seeing now is a definite up turn and this is the first time we've seen one in a couple of years," said Brown.
Some experts also agree the market is opening up and believe this shift will hit other parts of Southwest Florida.
"The average homeowner is going to see the turn, and they're going to have confidence that they know their property is going to go up, and that's what they need," said broker, Barbara Watt-Biggs.
News Gregg is happy to hear.
"I like the sound of that, that's great," she added.
The Naples report also showed that the number of available condos dropped 3% and the median sales price also went down.

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