Nestled at the southern end of Marco Island is a charming condominium called Mirage on the Gulf.  This Market Update doesn't have much to report in the way of changes in what is for sale.  Technology enabled they have a secure website for residents at http://www.mirageonthegulf.org/. Please view my Prior BLOGS about Mirage on the Gulf for additional information and links to additional reports.     At this point there are 5 properties for sale in the Mirage: Unit Bedrooms/Baths Décor A/C SF List Price List Date 207 4/3 Partial 2140 $960,000 10/18/2006 503 3/2 Partial 2159 $1,295,000 3/22/2006 505 3/3 Turnkey 2166 $1,159,000 3/3/2006 707 4/3 Furnished 2140 $1,050,000 9/30/2006 PH-E 4/3 Negotiable 3580 $1,595,000 2/9/2005  All statistical information is gathered from the Marco Island Are... 11/10/2006

Here is a link to my prior report on Mirage on the Gulf as of August 9th.  Since that report, a unit has closed in this building.  The unit listed for $1,249,000 and closed for 1,125,000 on August 11th.   There are currently 6 units for sale with an average list price of $1,164,000.  Which if you apply my pricing theory to this condo we are in alignment with what is going on in the market.  We have seen sales volume drop by 50% from 2005 and approximately an 18% decrease in average sales price.  Which again reflects that the market is making a correction in this building. YearPricing Theory - Going back to 2003 and applying a 15% increase per year of average sold   Mirage on the Gulf - As of 9/23/062007 $1,205,721.18 2006 $1,048,453.20 2005 $   911,698.44 2004 $   792,781.25 2003 $   77... 09/23/2006

Built in 2001, Mirage on the Gulf is a 9 story building with 59 units on the southern end of Marco Island with stunning Gulf views.  There is a breathtaking interior courtyard that all units open up to.  This community has an activity/social room, library, tennis, pool, spa, a fitness center and a fishing pier for it's residents enjoyment.Activity for this community is:6 Active listings ranging in price from $950,000 to $1,595,000Currently there is one pending which was listed for $1,249,000Since January 1, 2006 there have been two properties that have closed and they ranged from $900,000 to $1,150,000. ** All statistical information was gathered from The Marco Island Area Association of Realtors. **  This information is provided by Colleen Kulikowski, Realtor.  Colleen writes about the... 08/09/2006

The Activity on this condo is as follows:There are currently 22 active propeties on the market in the Gulfview ranging in price from $695,000 to $1,159,000.There have been 4 sales since January 2006 ranging in price from $600,000 to $725,000 and at this time there are no pending sales in this complex. See my July Update for more information regarding this condo...If you would like more information on this Marco Island condo or any Naples area community, please give me a call at (239) 821-3063 or email me at colleen@paradisereport.com.** All statistical information was gathered from The Marco Island Area Association of Realtors. ** 08/09/2006