April 18, 2017

Mirasol At Coconut Point - Market Report - 1st Quarter 2017

Mirasol At Coconut Point
Mirasol At Coconut Point is a quaint gated community in The Village of Estero at walking distance of Coconut Point Mall.
Sales are doing well in Mirasol as there are only 8 properties on the market.
Here is the quarterly real estate market report (1st Quarter of 2017)  for Mirasol.
Active Listings:
There are  8 condos on the market in Mirasol.
Average days on market: 129.
Average asking price: $250,600.
Pending Sales:
condos are under contract.
Listed from $228,822 to $239,000. 
Average days on market: 53.
Average asking price: $232,240.
Closed Sales:
3 condos have sold in the past quarter.
Average days on market: 232.
Average Sale Price: $245,760.
Average Sale Price/Square Foot: $173.
Let us know if we can help you with any property on the market in Mirasol.

March 3, 2017

The Residences At Coconut Point - Open House Sunday March 5 - 1 to 4 PM

The Residences At Coconut Point. Estero, Fl.
Beautiful Top Floor condo in The Residences At Coconut Point in the Village of Estero. South exposure with large open balcony and tranquil lake view. Upscale travertine marble flooring in all living areas. Crown moldings. The dining area can also be used as a den and offers built-in cabinets and desk with granite top. Kitchen with upscale level 3 granite counter top, stainless steel appliances, wood cabinets with crown molding. Custom mirrors. This condo is upscale and tastefully decorated. All windows and doors are hurricane-impact resistant. Building is completely secure with covered garage space on ground level and this unit has two storages: One on the unit floor, left to the elevator and a large storage close to the garage. 
Perfect home for a pied-a-terre, second home or primary residence. 
The Residences have a great location inside Coconut Point and offer a swimming-pool, spa, fitness center, social room and BBQ area. Walking distance to movie theaters and upscale shopping and restaurants. 15 minutes away from the airport. Great seasonal or annual rental potentials too.
OPEN HOUSE - Sunday March 5 - 1 to 4 PM.
View Complete Details & Photos.

Hawthorne, Bonita Springs - Open House Sunday March 5th.

Chesapeake Cove At Hawthorne, Bonita Spring, Fl.
Perfectly maintained first-floor carriage home in Hawthorne. Expansive lake view with a SE exposure. Diagonal tiles throughout. Tiled lanai with sun shades. Brand new stainless steel appliances. Corian counter tops. Open floor plan. The den includes a queen-size murphy bed and a built-in desk with cabinets. This property is in mint condition. Hawthorne is well located in Bonita Springs with easy access from Imperial Pkway and a few minutes of the soon to be revitalized Olde Bonita Springs and a few miles from Bonita Beach and Barefoot Beach. Hawthorne is a gated community offering a clubhouse, two fitness rooms, two heated swimming-pools, heated spa, two tennis courts.
OPEN HOUSE - Sunday March 5 - 1 to 4 PM.
View Complete Details & Photos.

New Homes - Buyers: Act Now As Prices Could Go Up.

New construction, new communities are booming in the Naples area. Many new communities are under development or are going to be released soon in  Naples, Bonita Springs and Estero.

Some builders are offering nice incentives for buyers, but this trend may end soon, as the prices for new construction could start to go higher soon. If prices are going up soon, it can be also a good way for buyers to consider resale properties too.

View Article: New-home buyers: Act now before prices go up

Shop for New Homes in the Naples-Estero Area...

Average 30-year mortgage rate falls to 4.1%

Now is the good time to buy!

Interest rates are still low but are not expecting to stay that way for long as the Federal Reserve is looking to increase them soon.

Find your dream home in the Naples, Bonita Springs, Estero and Fort Myers area now.

View Article: Average 30-year mortgage rate falls to 4.1%

January 2, 2017

Belle Lago, Estero - 2016 Real Estate Market Report

Belle Lago, a gated community of 447 single-family homes in The Village of Estero, Florida.
Here is the state of the market in Belle Lago.


Active Listings:
There are currently 17 homes on the market in Belle Lago.
Average days on market: 164.
Average asking price: $603,794.

Pending Sales:
homes are currently under contract. Listed from $349,900 to $549,000. 
Average days on market: 53.

Closed Sales:
28 homes have sold in 2016. From $310,000 to $755,000.
Average days on market: 190.
Average Sale Price: $527,014.
Average Sale Price/Square Foot: $176.

Cielo At The Colony: Almost Sold Out.

Cielo At The Colony is almost sold out!
Only 6 units out of 96 residences, are available.
These last units are located in building 1, 2, 3 & 12.
Priced from $717,475 to $1,139,610 depending of the floor and upgrades.
Cielo is an enclave of mid-rise buildings in The Colony At elican Landing,  an upscale golf community in Bonita Springs, Florida.
Contact us today for Cielo's last opportunities!

View Cielo complete information...
View All Properties For Sale in The Colony At Pelican Landing...

December 28, 2016

Estero North Point - A New Project in The Village of Estero

The Village of Estero Design Review Board meeting of December 14, 2016 examined the project presented by Estero North Point Ltd.
Estero North Point proposes to construct the core infrastructure that will serve the future development parcels within the approximately 100 acre Estero North Point site.
They are proposing a main entrance, with traffic signal, at US 41 and Pelican Sound Drive, a second entrance on US 41 further south opposite the 7/11 store, and an entrance off of Williams Road. There will also be a connector road to the north.
They are planning to include a 10 foot multi-use bike/ped path on one side of their internal road.
The applicant will be providing a buffer along US 41 at a later date.  For now, they will leave the current foliage to screen the undeveloped parcel, even though it is predominantly invasive plants.
This project is located northeast of the intersection of US 41 and Williams Road and is located in the Village Center.

December 7, 2016

Lee County, Florida - Single-Family Homes permitting up in November over 2015

During November, contractors pulled 66 permits to build single-family houses collectively valued at about $19.8 million in unincorporated Lee County. That compares with 95 permits issued in October and 47 issued in November 2015, according to the Lee County Department of Community Development (www.leegov.com/dcd/). 
Data for 2015 includes permits for the Village of Estero. 
Twelve multi-family units were permitted in November, compared with no units in October and six units in November 2015. General commercial activity was valued at about $16.6 million for 18 permits, compared to about $17.7 million in October and about $13.3 million in November 2015. Lee County Community Development issued 2,973 permits of all kinds in November.
View Properties For Sale in Bonita Springs.
View Properties For Sale in The Village of Estero.

Kalea Bay, Naples - Second Tower Released For Reservation

Kalea Bay, Naples Florida.
Following the success of the first tower, the developers of Kalea bay, a high-end waterfront high-rise community in North Naples have just released the pricing and floor plans for Tower 200, the second tower to be built close to Tower 100.
Tower 200 will offer six large units per floor with gorgeous views on the water and a SW exposure.
Each condo will offer around 3,300 sqft under A/C with 3 or 4 bedrooms.
Tower 200 will feature comparable amenities as Tower 100 with a rooftop swimming-pool.
Prices start at $1,495,000 and goes up to $3,150,000 for the penthouse units on the 23rd floor.
Kalea Bay is located close to Aqua at Pelican Isle, another luxury waterfront complex.
Contact us for complete price sheet and reservations.
View Kalea Bay Complete Information and Floor Plans.

November 21, 2016

Naples Area Real Estate - Market Report - October 2016

Naples Area Board of Realtors® (NABOR) has just released the real estate market report for October 2016 compared to October 2015 for residential real estate transactions in the Naples area.
Despite an increase of transactions using mortgages (44%), 65% of transactions are cash sales in the Naples area.
The overall pending sales decreased 13% but the numbers continue to show an accrued interest for  properties over $500,000:

  • Overall pending sales increased 14%.
  • Pending sales of condominiums from $500,000 to $1 million increased 30%.
Here are the other noticeable figures for this report:
  • Overall closed sales decreased 7%.
  • Closed sales of condominiums from $1 million to $2 million increased 80%.
  • Closed sales of single-family homes in the $300,000 to $500,000 category increased 21%.
  • Overall median closed price increased 6%.
The Naples area real estate report for October shows a six-month worth of inventory, which make an healthy level of choice for buyers. The increase in days on the market (+15%) has been affected by some overpriced properties and shows that sellers must price their properties in a more realistic way in today's market.

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:

CATEGORIES
08/2016
08/2015
CHANGE
Total homes under contract (pending sales)

734
811
-9%
Total Closed Sales
654
689
-5%
Median Closed Price
$320,000
$306,000
5%
Total Active Listings (Inventory)
4,787
3,525
36%
Average Days On Market
88
75
13%
Single-Family - Closed Sales
350
348
1%
Single-Family - Median Closed Price
$384,000
$388,000
-1%
Single-Family Inventory
2,554
2,025
26%
Condominium - Closed Sales
304
341
-11%
Condominium - Median Closed Price
$232,000
$235,000
-1%
Condominium Inventory
2,233
1,500
49%

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.
rental

COMPLETED

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.
springs

UNDER CONSTUCTION

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.
courtyards
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.
esterooaks
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.
springsapts

SEEKING VILLAGE APPROVAL

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.
IN PLANNING PHASE
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.