Naples Bonita Springs Estero Florida

Naples Real Estate Market Watch
September 2009
(Based on data from the local board of Realtors® multiple listing service.)

  Pending home sales data for September 2009 indicates the market remains strong and it even increased in September over August.

Read the complete Market Watch

Bonita Springs - Estero Market Watch
September 2009
(Based on data from the local board of Realtors® multiple listing service.)

Pending home sales data for September 2009 indicates the market remains strong and it even increased in September over August.

Read the complete Market Watch

The last data point represents eight months of 2009 through August.

Lee County homes sales data from the Fort Myers Association of Realtors
as printed in THE NEWS-PRESS.
Lee County is home to Fort Myers, Estero, Cape Coral, and Lehigh Acres among others.

Collier County is home to Naples and Marco Island amoung others
August reports for Naples area are available here
September reports for Naples area are also available.

www.BobPisa.com

As you can tell from the smile on my face in the picture to the right, this is the day after we put in our outdoor kitchen in our new home after moving to Florida in March 2006. Florida is all about outdoor living and a great outdoor kitchen was something I tought about for a long time. Cooking is a great passion of mine.

My kitchen is pretty basic, 36" three-zone grill with "sear-zone", two burner cooktop, and a small under-counter refrigerator. Now, to the swordfish.

Set out to grill some swordfish, I wanted something to top it off. What did we have in the house that I could use? Shallot, onion, garlic (of course!), kalamata olives, red bell peppers, capers, EVOO, and butter (just a little.)

In a ratio of 3:1 of shallot to onion, chop medium coarse. Saute both in EVOO over medium-low with a small clove of chopped garlic added. Cut about half a red bell pepper into 1/4" squares, add to saute. Add the kalamata olives, capers, and one tablespoon of butter. Saute a little more. Add some white wine (I use Pinot Grigio) and let it all saute and reduce. Then a a little sherry and let it reduce down again.

By the end the shallot and onion are carmelized and the whole mixture is slightly thickend. Go grill the swordfish - don't over cook it! - and top it off with the delectable saute.

Note: There is distinct lack of precise measurements...well, I hardly ever measure except when it's real important. (In this case I didn't want the onion to over power the shallot.) This makes for variety and a difference each time you cook. The only rule is, there is no rule...just make it up!

When you buy swordfish, select a piece with complete, round, concentric circles. This is the best cut.

As a Realtor, we are continuously are getting email updates from the new development sales offices. This morning's email was no different with one exception.

The sales representative gave a quick run down for existing inventory and current deals - not that many by the way - but the last line in his list said "Building 4 Single Family and 6 more Carriage Homes for seasonal inventory" - spec homes! (From a large, nationwide publicly held developer.)

BUILDING HOMES FOR INVENTORY!

I didn't expect to see that this soon but, in retrospect it's not too surprising. I routinely call around on behalf of my customers looking for deals on standing inventory - leftovers and cancellations. As of late, the responses have been not much to choose from.

Am I reading the tea leaves? You bet! But this type of anecdotal information as well as the hard data that I routinely report on makes it clear me. What do you think?

I believe this is from Warren Buffet, surely modified somewhat..."By the time you see the bandwagon, it's too late."

This is yet another testament to the housing market recovery.

www.BobPisa.com

The Ritz-Carlton Golf Resort is ranked #1 in Florida by Golf Digest magazine's seventh annual survey. This is in addition to being on the top 75 golf resorts list since it opened in 2002. This year, the Ritz-Carlton ranks No. 32 out of the top 75 in North America.

The Golf Resort boasts two 18-hole signature courses at Tiburon designed by Greg Norman who is the host for the PGA Shark Shootout in Naples each year.

Tiburon lends its name to the Golf Club as well as the residences on the masterfully designed property. Residences range from mid-rise condominiums, villas, coach homes, and single-family homes.

Review the residences at Tiburon here.

www.BobPisa.com

SALES UP 87 PERCENT
Report Shows Inventory Declines 13 Percent

The headline is from a very recent (September 11, 2009) press release from the Naples Area Board of Realtors - NABOR.

"...Overall pending sales, which are a key indicator of buyer activity, increased 87 percent with 872 contracts in August 2009 compared to 461 contracts in 2008..."

Additional specifics from the press are:

• Overall closed sales increased 38% with 545 closed sales in August 2009 versus 395 in 2008
• Single-family homes pending sales contracts for properties under $300,000 increased 106 percent to 344 contract in August of 2009
• The available inventory decreased 13 percent to 9,163 compared to August of 2008
• The average days on market (DOM) decreased to 160 which is a 21 percent reduction from its peak in May of 2008 of 202 days
• Condo pending sales increase 89 percent with 370 contract in August of 2009

You may read more market information here --> Bonita-Estero, Naples

www.BobPisa.com  

Laurel Lakes, in one of Naples most sought after school districts with Laurel Oak Elementary, Oak Ridge Middle and Gulf Coast High School all in the immediate vicinity, make this Mahogany model your perfect family home with separate living room and family room. Drive down the street with center landscaped island and sidewalks to the paver driveway into the oversized 3 car garage with workshop. The split/separate master bedroom suite features a 10X10 area for sitting, exercise, or home office and a large walk-in closet . Volume ceilings throughout make this home live large! Situated on an oversized lot, this home provides a large covered lanai, sun deck, and built-in heated swimming pool. It is well appointed with seven ceiling fans throughout and new (within one year) 18" porcelain tile diagonally laid and recently new HVAC. The interior is freshly painted in a neutral color ready to move in.

more at http://8525LaurelLakesBlvd.robertpisa.com 

Finally open is the 11-screen theater that boasts a 65-seat restaurant and lounge with marble floors and leather chairs to make it "...not your father's movie theater..." It's been described that each chair is "like a La-Z Boy Sofa."

The Naples International Film Festival is scheduled to be held there November 5-8.

This is the first U.S. venture for Venezuela-based Cine Unidos. The theater has a total of 11,000 seats grouped in clusters of two and each seat is numbered. The numbered seat is assigned when you purchase your ticket on-line or through one of the touch screen terminals. There are no traditional box offices to purchase tickets from.

Sounds great, I can't wait to go!

www.BobPisa.com

Previously it was announced that the members of Shadow Wood Country Clubb (SWCC) reached and agreement with Bonita Bay Groud (BBG) to purchase both the Golf Club at Shadow Wood and The Commons Club amenity center. This was confirmed in a press release by BBG on September 1st.

In a blog post written to the members yesterday - 9/9/09 - it was reported that the deal is dead.

Why? The paramount issue in this deal, as well as golf club buyouts all over, is the huge liability on the books for member deposits. The chief restructuring officer for BBG, in a recent meeting, stated that BBG is adding a requirement that limits BBG's liability to $250,000. The current deposit liability for both clubs is on the order of $4 million.

A couple of strategies were talked about that could enable the new club to take on the liability including selling off some golf course property for additional single-family homes and changing the refund policy to 3 for 1.

BBG represented that there were at least 2 buyers offering to pay more cash and assume the liabilities from BBG for member deposits.

All I can say at this point is...stay tuned. This is not a matter of if a sale takes place but rather when and how much.