APRIL, 2009 SANIBEL ISLAND: The million dollar question is, “Have we hit the bottom of the real estate market”? The answer is no, not yet. For three years now, we on Sanibel & Captiva Islands have always said we were insulated from the “Real World” across the bridge. We never had the same spike in prices as they did in Fort Myers or Cape Coral because it has always been cost prohibitive for most buyers of Florida real estate to purchase here. Consequently, we have not seen the same proportionate drop in prices during the downturn. In other words, the values have been maintained better on the islands, and the risk is safer here. The problem is someone forgot to tell the buyers.