I was talking with a group of teachers the other day and for the first time in a few years I didn't hear them say "We can't afford to take this position in Southwest Florida". This was not the case over the past couple of years and I think that we as a community missed out on several young teachers that could have made major differences in our children's lives if the only could afford the housing at the time.

With real estate prices moving downward and more affordability coming back into our market it now makes since for young professionals to make the move from the cold and down to 85 degree weather in February. The biggest part of the downward spiral is the ever so popular foreclosure segment of our market. Now as I can't speak for all areas of the country; Southwest Florida experienced a huge growth in a very short time and was fueled by speculators thinking the rise would never stop. Whether it was greed or pure stupidity the gravy train came to a screeching halt and started to "drain" the investors on a monthly basis. Eventually those who were unable to make obligations to their monthly payments had to surrender those properties back to the banks and now the banks need to unload them.

Move forward two years and that is where we are today, when a young professional who might only make “starter pay” can now move to our area and buy a three bedroom, two bath home under $90,000 they can make since of their payment. They can live the SW Florida dream with the rest of us and not feel that they need to go stock shelves at night or deliver pizzas just because they have a passion to teach our children or protect us while we sleep.

The foreclosures will pass over the next few years and I hope that the people who are buying today don't repeat the same cycle in the short amount of time again and the primary residents who are buying today will enjoy making fun of their friends up north while they bask in the warm sun of SW Florida.

Contact Bill Mitchell at Marc Joseph Realty