Naples, Florida, Realtors are walking around with a little better spring in their step as both home sales and pending sales are registering their best sales in months. NaplesNews.com reports home sales for April 2008 are up 6 percent and pending sales have surged by 25 percent, according to the Naples Area Board of Realtors.

Naples has been home to many sports celebrities such as golf great Jack Niklaus, basketball legend Larry Bird and football hall of famer Mike Ditka. Now, it's one of the first Sunshine State cities to start a run for recovery and making it into a hot market. "I think we've hit bottom in Naples,” is how NABOR president Arlene Carozza describes it, pointing out local economists are confirming what Realtors are seeing on the streets.

Toll Brothers home builder Bob Toll, the chief executive of the company, told CNBC's Mad Money host Jim Cramer that the west coast of Florida is the state's "one ray of hope."

"Naples is back." he says, adding that inventory for his company has dropped while prices have begun heading upward. Foreclosures in the area, meanwhile, have played a vital role in the pending sales increase, jumping nearly 800 percent in a year and up 40 percent since March, according to RealtyTrac.com.

Published: June 13, 2008

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Mr. Carr has covered real estate since 1989. He is the author of Real Estate Investing Made Simple. Got a personal real estate issue? Post your questions and comments at Anthony’s blog: commonsenserealestate.blogspot.com.