October 26, 2016

Bonita Landing: New Gated Community in Bonita Springs

Bonita Landing is a new gated community just released in Bonita Springs.
Bonita Landing is located off Bonita Beach Rd, close to Bonita National.
Bonita Landing will offer 240 single-family-homes at completion around a 40-acre lake; most of the homes will have a lake view.
No clubhouse or amenities except a basket ball court in a way to keep the maintenance fees low.
Twelve floor plans to choose from, in two collections.
1,677 to 3,867 sqft under A/C. 3 to 6 bedrooms. 2 to 3-car garages. 1- or 2-story homes.
View Complete Details & Floor Plans....

September 30, 2016

Study: Florida Ranks Fourth As Business Friendly State

WASHINGTON – Sept. 29, 2016 – 
The nonpartisan Tax Foundation released its 13th annual State Business Tax Climate Index, which measures how well-structured each state's tax code is by analyzing more than 100 variables in five tax categories: corporate, individual income, sales, property and unemployment insurance.
Wyoming once again took first place with the most competitive tax code in the country, while New Jersey maintained its long-standing position at the bottom of the pack.
Overall, Florida ranked fourth. Only three other states were deemed to have a more business-friendly tax code. This year's most competitive states include:
1. Wyoming
2. South Dakota
3. Alaska
4. Florida
5. Nevada
6. Montana
7. New Hampshire
8. Indiana
9. Utah
10. Oregon
This year's least competitive states include:
41. Louisiana
42. Maryland
43. Connecticut
44. Rhode Island
45. Ohio
46. Minnesota
47. Vermont and D.C.
48. California
49. New York
50. New Jersey
States are penalized for overly complex, burdensome and economically harmful tax codes, and rewarded for transparent and neutral tax codes that do not distort business decisions. A state's ranking can rise or fall in rank because of its own actions or actions taken by other states.
"Our goal with the State Business Tax Climate Index is to start a conversation between taxpayers and policymakers about how their states fare against the rest of the country," says Tax Foundation policy analyst Jared Walczak. "While there are many ways to show how much a state collects in taxes, the index is designed to show how well states structure their tax systems and to provide a roadmap for improvement."
The index can also be used as a tool for identifying state tax trends. For instance, the report shows that a number of states are now opting to simplify their tax systems by consolidating individual income tax brackets or even moving to a flat tax.
Hawaii eliminated its top three individual income tax brackets in 2016 and reduced its top marginal rate from 11 to 8.25 percent, for example. That improved its overall rank from 30th to 27th. North Carolina moved to a flat individual income tax in 2014 and continues to phase in rate reductions, building on its 2013 reforms and shoring up its place at 11th overall.
Another trend is the tendency for states to shift away from taxes on capital. Pennsylvania, for example, has now completely phased out its capital stock tax, boosting its property tax component ranking six places, from 38th to 32nd, and improving its overall state ranking from 28th to 24th.
The full report is available online, along with a map that graphically shows the ranking of each state.
© 2016 Florida Realtors®   

September 29, 2016

Average time to close? 46 days

NEW YORK – Sept. 28, 2016 – 
The time to close on a mortgage loan is leveling off at about a month and a half after fluctuating for months following last year's implementation of the Consumer Financial Protection Bureau's TILA-RESPA Integrated disclosure rules.
But as the learning curve has passed, the average time to close on a mortgage seems to be settling at about 46 days, according to Ellie Mae's Origination Insight Report. The report shows that the time to close on a loan has remained at 46 days for the past three months. The average time to close a refinance also averaged 46 days.
Sixty-four percent of real estate professionals indicated their contracts were settled on time in August, while 30 percent said they faced delays to settlement, and 6 percent saw their contracts terminated, according to the latest Realtor® Confidence Index, a survey sent to more than 50,000 real estate practitioners. The biggest issues affecting a contract delay were issues related to obtaining financing, the appraisal and a home inspection, according to the survey.
"The fraction of delays due to appraisals has increased in recent months, in part due to a shortage of appraisers and other issues reported by Realtors (e.g. being asked to make 'inspections')," the report states.
Source: REALTOR® Confidence Index (August 2016) and "The New Normal: Time to Close Settles at 46 Days," HousingWire (Sept. 22, 2016)
© Copyright 2016 INFORMATION, INC. Bethesda, MD (301) 215-4688

September 19, 2016

Talis Park Naples - Update - Strong Sales

Kitson & Partners’ reported that 31 closed home site sales and 45 new construction contracts worth more than $56 million were processed at Talis Park in North Naples during the first eight months of 2016
One hundred twenty-two homes are under construction in neighborhoods throughout the community. Strong visitor traffic continues to reflect the community’s appeal within the luxury homebuyer market.
Talis Park’s success is the result of a compelling lifestyle and a ready supply of completed and soon to be completed furnished model residences. 
Corsica Coach HomesThe first completed furnished Coach Homes at Corsica model is available for purchase with a lease-back. FrontDoor Communities’ second-floor Sienna coach home model offers 3,382 square feet under air and 527 square feet of covered lanai space. Priced starting at $795,000, the Sienna floor plan features a ground-level foyer with a 20-foot clear-story ceiling, staircase and a private elevator. The plan includes a study or loft, a great room, dining area and wet bar, an island kitchen, three bedrooms, and three-and-a-half baths.
Three unfurnished Corsica Coach Homes will be available for purchase and occupancy this month. Four additional residences are under construction and scheduled for completion in December.  An additional coach home building will be completed by mid-season 2017. The coach homes are close to the tennis, bocce ball, and lap pool venues at Talis Park’s Sports Complex and a short bike or golf cart ride from the Vyne House clubhouse.
Corsica - Custom Homes: The Corsica neighborhood also offers 24-four single-family homesites with single-family residences built by Sunwest Homes, Harbourside Custom Homes, Stellar Living Homes, and Fox Custom Builders. Eight homesites and two furnished models are available for purchase. Priced at $2.595 million with furnishings, Sunwest’s two-story Grand Santa Barbara model offers 3,950 square feet with a great room and three first-floor bedrooms. 
Harbourside’s Villa Adriana II model in Corsica is priced at $2,425,255 fully-furnished. Two-story, 3,672-square-foot residence.
The Residences at Vyne HouseTalis Park’s luxury residences offering the convenience of a lock and leave, maintenance-free lifestyle include the Residences at Vyne House, an enclave of penthouse-style condominiums immediately adjacent to Vyne House. The Residences at Vyne House offers 11 floor plans ranging from 2,563 to 5,648 square feet priced from $1.35 million to $3.575 million.
Prato Grand EstatesTalis Park’s available estate residences include the Prato neighborhood’s estate homes situated on 125-by-175-foot sites. McGarvey Custom Homes’ completed two-story furnished Astaire estate model encompasses 11,110 square feet with 6,820 square feet under air. The Astaire is priced at $4,695,900 furnished.
Gulfshore Homes’ furnished Dorado model offers 8,862 total square feet with 6,336 square feet under air. The Dorado is offered at $4.849 million and expected to be completed in late October or early November.
Stellar Living’s two-story, 6,272-square-foot under air Cipriani estate is priced at $4.7 million fully-furnished and scheduled for completion in November. 
The Grand Santa Barbara two-story estate home by Sunwest includes 9,200 total square feet with 5,900 square feet under air. Scheduled for completion in December, the Grand Santa Barbara is priced at $4.395 million furnished.
Fairgrove At Talis ParkFurnished Park Home models are under construction in Talis Park’s Fairgrove neighborhood. The 5,847-square-foot, two-story Villa Ferrari residence is priced at $4.19 million and scheduled for completion this month.
Iron Star Luxury Homes’ 5,810-square-foot Villa Lago residence in Fairgrove is priced at $3.29 million fully-furnished and scheduled for completion in October. 
Brightling At Talis ParkThe Park Homes in Talis Park’s Brightling neighborhood offer golf course, water and preserve views. Harbourside Custom Homes’ unfurnished Messina residence is scheduled for completion this month. Priced at $1.45 million.
©Naples News - Caffrey & Associates

September 16, 2016

Naples Real Estate - Market Report For August 2016

Summer activity indicates a promising season. 
The Naples Area Board of Realtors®) (NABOR®)) a just released the market report for residential real estate in the Naples area for August 2016.
The housing market's momentum continues to remain strong heading into fall.
2015 was an extremely active year leading to a very limited inventory in all areas, making difficult for buyers to find a home of their choice.
Now, buyers who were in stand-by mode by lack of inventory will be pleased to see an increase in homes for sale (even if builders have been added new homes into the MLS) meaning more opportunities to buy.
The NABOR® August 2016 Market Report provides comparisons of single-family home
and condominium sales (via the Southwest Florida MLS), price ranges, and geographic
segmentation and includes an overall market summary. The NABOR® August 2016
sales statistics are presented in chart format, including these overall (single-family and

condominium) findings:

Total homes under contract (pending sales)

Total Closed Sales
Median Closed Price
Total Active Listings (Inventory)
Average Days On Market
Single-Family - Closed Sales
Single-Family - Median Closed Price
Single-Family Inventory
Condominium - Closed Sales
Condominium - Median Closed Price
Condominium Inventory

August 4, 2016

Rental Housing is Booming in Estero

In 2012 Richard Hunt, the ECCL’s real estate market research consultant, found that Estero had a shortage of both rental and senior housing. During the housing boom of the early 2000’s Estero rental-only housing was converted to condominiums.
Almost immediately after issuance of Hunt’s report, developers with plans for such projects filed applications for these kinds of projects with Lee County, which reviewed and approved all rezoning matters in Estero until the Village was functioning in March 2015.
This Estero Development Report focuses on Estero’s rental housing market and next month’s edition will discuss our senior housing market. Each report will include both a summary section and detailed information on each project, including those already completed, those under construction and those in the approval pipeline.

The Present Estero Rental Housing Situation

Completed or Under Construction: Excluding specialized student housing projects, there are currently four rental housing projects containing 879 housing units already completed or under construction in, or just outside, Estero’s borderThree of the four projects, containing 676 units, are well along and should be completed by year end.
Seeking Village ApprovalTwo major rental housing projects, Via Coconut Urban Place and Estero Crossing, containing 752 units, are presently seeking Village approval so they can add to the growing inventory of rental housing in the community. In addition, 13th Floor Apartments is meeting with neighboring communities to explore the development of another 200 rental units. If all of these developments are approved by the Village, an additional 952 rental housing units would be add to those already approved and/or under construction.
Student Housing Projects: For several years Estero has been home to one of two off-campus student housing developments, called Coastal Village, serving FGCU students. A 168-unit addition to this development was approved by the County several years ago and construction began in 2015 and is nearing completion. Recently an application, formally called “The Reef”, has been filed with the Village to add another 60 units on adjacent property on the northeast corner of Estero Parkway and Three Oaks Parkway. If approved, the number of new student apartments would total 228.
The grand total of new rental housing units of all types that could be built in Estero if all these projects are approved without change would be 2,059 units.

Individual Development Status

Apartment developments are summarized in the following table and described below.


Springs at Estero opened in October 2015. It was the first apartment complex to open in recent years and already has reached 95% occupancy. Its 260 townhouse-style apartments occupy 18 acres at the entrance to Germain Arena.  Included are a clubhouse, pool, fitness center and dog park.  It offers studio, 1- , 2- and 3-bedroom units with square footage of 525 to 1,430 and pricing from $600 for a studio to $3,000 for some 3-bedroom units. Although located near FGCU, it is not aimed at the student market.  Developed by a Wisconsin-based firm, Continental Properties, it was approved by Lee County prior to Estero’s incorporation.


Courtyards at Esterobeing built on nine acres, includes 136 luxury apartments in 17 two-story buildings, along with a clubhouse, swimming pool, fitness center and dog park.  This Focus Development Group project, located on the north side of Corkscrew west of I-75, was also approved by Lee County prior to Estero’s incorporation.  It includes 1- , 2- and 3-bedroom units with square footage of 850 to 1,375 and pricing from $1,260 to $1,990. Currently, over 80% of the apartments are occupied or under lease. The development is expected to be completed by September.
Estero Oaks is a 36-acre mixed-use development located at the northwest corner of Estero Parkway and Three Oaks.  Because it is outside the Estero border, it also was approved by Lee County. It is being developed by Oakbrook Properties and Royal Palm Homes.  Included are 280 units, a clubhouse, swimming pool, fitness center and dog park.  The development features 1- , 2- and 3-bedroom apartments from 800 to 1,400 square feet.  Apartments are being positioned around a four-acre lake with public spaces and landscaped boardwalks/sidewalks for walking and biking. About 20% of the units are currently leased with first occupancy planned for this August; all units are expected to be move-in ready by the end of December. A 7-Eleven recently opened on Estero Parkway; other anticipated commercial uses include restaurants, small retail businesses and offices.
Springs Apartmentsformerly Springs at Gulf Coast, is a proposed 203-unit multi-family apartment complex off Ben Hill Griffin, located at the northwest corner of Miromar Outlets Drive. and Highland Oaks Drive, which is under construction. The development will include 8 two-story buildings consistent with Mediterranean architecture.  While the land is being cleared, representatives of the developer, Continental 376 Fund LLC, continue to meet with the Village’s Planning and Zoning and Design Review boards.


Via Coconut Urban Place is proposed 18-acre, mixed use development that would include 297 apartments along with 30,000 square feet of commercial use.  Representatives of the developer, Focus Development Group of Boca Raton, continue to meet with the Planning and Zoning Board.  Among enhancements being discussed are large open green spaces with landscaping, gathering spaces with outdoor caf├ęs and an east-west connector road to the Estero Community Park. The site plan below the development would be built on the west side of Via Coconut Point and north of Williams Road.
urban place
Estero Crossing is a proposed 43-acre mixed used development on the south side of Corkscrew Road, located 1,000 feet west of the I-75 interchange.  The proposal by Stock Development of Naples calls for 455 residential units and 60,000 square feet of commercial use.  The proposal brought before the Village Council in March would have required an amendment to the Village’s Comprehensive Plan.  More than 200 residents appeared at the meeting to oppose the development and present an 800-signature petition protesting the proposal.  The Council voted to delay action on the project. There have not been any meetings with the Council or Planning boards since March.
The Reef is a proposed addition to an already existing 168-unit student housing complex at the corner of Three Oaks and Estero parkways.  This would add 60 Mediterranean-style apartments on five acres next to the existing site.  Future meetings with the Design Review Board are expected.
13th Floor Apartments is being proposed by Oakbrook Properties on a seven-acre property at the southeast corner of the traffic circle on Via Coconut at Williams Road.  Plans call for 200 apartment units. Although the developer’s representatives met with a number of Rapallo residents to outline plans for the development, the details remain sketchy at this time.
© www.EsteroToday.com

July 5, 2016

Cascades At Estero - Market Update - 2016

Cascades At Estero - An active-adult (55+) community with beautiful amenities and located in the heart of The Village of Estero, Florida. 

Cascades is outstanding by the quality of its amenities: A spacious clubhouse with ballroom, billiards, social room, craft room, card room etc. A large resort-style pool and spa and an indoor lap pool. A state-of-the-art fitness center and tennis center.
The market has been very active in Cascades in the first semester of 2016.
Here is the state of the market, year-to-date:
Active Listings:
There are currently 11 homes on the market in Cascades.
Average days on market: 67.

Pending Sales:
properties are under contract. Listed from $299,900 to $425,000. 
Average days on market: 106.

Closed Sales:
14 properties have sold since 1/1/2016.
Average days on market: 143.
Average Sale Price: $300,929.
Average Sale Price/Square Foot: $166.
Contact us if you have any questions about Cascades At Estero.

July 1, 2016

Naples Real Estate - Market Report - May 2016: More Choice For Buyers.

Buyers will find more homes for sale this Summer in the Naples area. The real estate market report for May 2016 has been published by NABOR (Naples Association Board of Realtors).
As summer approaches, buyers will be happy to learn that median closed prices in May continued on the same trend seen in recent months, and remain steady in all price segments above $300,000. The median closed price was $338,000 in May 2016 compared to $332,00 in May 2015. 
Properties realistically priced are selling quickly.
May's 37 percent climb in inventory coupled with steady prices in most price segments indicates a stable and inviting market environment going into summer.

As more properties come on the market, buyers will have more options and won't be forced to make aggressive offers.

MAY 2016
MAY 2015
Total homes under contract (pending sales) 921 977 -6%
Total closed sales 838 1,010

Median closed price $338,000

$332,000 2%
Total active listings (inventory) 5,207 3,800 37%
Average days on market  73

Single-family closed sales

396 430 -8%

Single-family median closed price $432,000 $427,000 1%
Single-family inventory 2,744



Condominium closed sales 442 570 -22%

Condominium median closed price $276,000 $268,000


Condominium inventory

2,463 1,632 51%