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Date Posted: 14:51:35 01/15/08 Tue
Author: Shocker
Subject: Re: I know I am getting get heat for this
In reply to: Kiven 's message, "Re: I know I am getting get heat for this" on 10:20:15 01/15/08 Tue

Okay, first of all, it's kind of a stretch to compare rentals on Marco to those on Captiva. The ambiance is completely different.....note the preponderance of concrete/asphalt on Marco versus Captiva, for example (Al Gore would be outraged!). lol

Further, Marco is roughly twice as far from the airport (and civilization, as in Fort Myers/FMB) than Captiva. So, good luck if you want to want to find anything (such as groceries or other such stuff) at reasonable prices. When you stay on Marco, you're pretty much stuck with Marco pricing.

Third, you're comparing a rental with both a bay and a gulf view with one that has neither. Big difference there (and a canal view is in no way similar to a bay view, much less a gulf view). Also interesting to note that the Captiva property you were renting has a much higher FMV than the Marco property. I mean, that Marco house is really nice but, again, it's on Marco Island, not Captiva.

Finally, although the Marco rental might be "within walking distance to the gulf", it certainly appears to be somewhat of a trek. The beach is nowhere near a block away much less across the street. If you can get there in 3 minutes, you must be walking at a pretty good pace.

Check out some of the Captiva rentals on the following link:
<a rel=nofollow target=_blank href="http://www.captiva-island.com/amrc/rentals.htm">http://www.captiva-island.com/amrc/rentals.htm</a>

I can tell for a fact that the weekly rental rates for the vast majority of those properties are about the same (slightly higher in some cases) than they were before the storm. So, I really can't see how "greed" is involved, in any way shape or form. In that regard, I will also tell you that my property grosses between $60k-$70k per year and, of that amount, I net LESS THAN 20%.....over 80% is consumed by commissions, property taxes, insurance, cleaning, repairs/maintenance, improvements, and utilities. So, as far as income is concerned, I'd be much better off selling and putting the proceeds into bonds or CDs. I have not done so, nor do I intend to do so anytime in the near future, because, like virtually all of the other owners, I truly love the island. Sorry if you don't see the VALUE difference between Marco and Captiva but to each his/her own, I suppose.

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