Five questions

It appears that the local real estate market is taking a nasty turn, based on reports that show dips in sales and prices. The trend counters activity of the past several years when houses sold at record-breaking values. Veteran realtor Phil Wood, however, is taking current conditions in stride; all he sees is history repeating itself.

1. How would you characterize the current real estate market?

It is definitely slower than it was last year. Actually, though, it's not too far off from 2004, which was a pretty darn good year. It's unfortunate that the statistics that keep getting published compare us to last year, because that was such an abnormal year. But when you compare it to a normal market, it's only slightly down instead of way down.

Readers who are not very familiar with Southwest Florida do not benefit from the historical perspective-prices continually go up and every once in a while plateau. You can take a 20- or 30- or 40- or 50-year trend line and it's the same. The people who have been here for a while know that, so they're not dropping their prices. And yet a lot of the buyers are afraid that they are going to pay too much and they're not moving, so it's kind of a stand-off right now.

2. When will we see a turnaround?

We're going to see two important points. After the hurricane season, probably mid October when most of the bad-stuff potential is over, you'll see people start to have a little more interest. And traditionally, January is always big surge month after a slow period, such as after 9/11. We were real slow for four months and then in January 2002 we took off like crazy. I'm expecting January of 2007 to show a lot more activity.

3. What types of properties are moving right now?

A little bit of everything. When you compare the numbers to 2004, in almost every category they're pretty similar except in one category and that's the under $250,000. And that's because that category simply doesn't exist anymore. Even the upper end-the million-dollar-and-over category-that traditionally slows down a bit in slower periods is really doing fine.

The condo market is a little bit slower, but I think that's primarily because of these big developments where they had a whole lot of speculators go in and buy a lot of the units. They're having a little more difficulty. Overall, condominiums west of [Tamiami Trail] will be fine this coming season.

4. Will workforce housing become a reality in Collier County?

I do think it's possible, but it's going to take some serious steps by the county commissioners, and they really have not taken those steps yet; they're just skirting the edge of the issue. I don't think it will happen with the current group of county commissioners. Maybe some of them over time will come around to it as there's more and more pressure put on them. But it can be done if they increase density on selected parcels in certain locations.

5. What's Collier County's next hot area?

You've got to talk about Ave Maria. I've lived in Collier County for 48 years, and to know that Immokalee has always had such difficulties, it's just nice to see such an incredible thing happening out there. It's a total revitalization with hundreds of new homes and lots of new businesses.

-Interview by Phil Borchmann