It was July in 2005 when I first felt the chill in real estate values in my community of Hernando County Florida. Until that time the previous two years were pure fantasy in sales.

I thought values would continue to escalate for years to come. But the market suddenly went still especially in waterfront properties first such as Hernando Beach, Sea Pines and Sea Ranch in Pasco County.

From July of 05 until last month prices in waterfront homes continued to fall and all of a sudden there has been resurgence in values. Smart investors are snapping up waterfront homes for up to two thirds off of the peak prices from just four years ago. The bottom end homes are virtually gone in the $80,000 to $150,000 range. However, there are wonderful waterfront properties available at very fair values. Buy now before the great buys disappear.