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GENERAL OVERVIEW: The softness in the overall housing market has forced builders here to go in the past 3 years from Buyers giving them deposits for the chance in a lottery to buy a new home, to pricing their remaining inventory homes at bargain prices in the past year, to once again taking deposits on home to be built at Pre-Construction prices somewhat above the “bargain inventory” levels, in new neighborhoods. As we concentrate on the higher quality communities this is a snapshot of our select communities. What remains in the wake of this phenomenon are limited choices for new homes in Master Planned Communities, more abundant resale homes offered by recent buyers who wish to or MUST sell. In Coastal Condominiums there isa mix of new and resale homes available. Limited availability remains in Infill Projects, but there is an abundance of availability—especially in resale homes in Golf Communities. Masterplanned Communities would generally consist of central complete amenities and clubhouse, many with optional separate golf courses and clubhouses , are gated, and located 15-30 min from the Central Naples area. Masterplanned Communities include: Miromar Lakes, Lely, Village Walk Bonita, Verona Walk Coastal Condominiums were started at the height of the market, and now have a mix of some builder inventory, and resales of homes purchased by investors or others whose plans have changed. Builders are forced to negotiate prices in response to the resale market. All are Luxury homes. Coastal Communities include: Bonita Bay, Aqua, Aria, Colony Golf and Bay Club Golf Communities generally a small variety of builder inventory, and an abundance of resale homes remain in these gated communties that are either BUNDLED (golf membership included in price of home) with over 500 members per golf course, making them very crowded in the winter season, or PRIVATE COUNTRY CLUB communities that offer a variety of optional membership programs, with from one to three courses included in one membership, with from 200 to 375 members per course. Builders in these communites are currently offering attractive incentives for buyers of Pre-Construction homes, to get things moving again. Golf Communities Include: Private CC -- Renaissance, West Bay Club, Colony Golf and Bay Club, Palmira, Quail West, Grey Oaks, Estuary, Mediterra, Quarry, Olde Cypress, Twin Eagles, Vineyards. Bundled -- Heritage Bay Infill Projects are smaller limited amenity, usually gated communities or are new custom homes built in areas closer to central Naples, on sites where existing structures have been removed, or on vacant sites that have not previously been developed. The most exciting of these is The Strada at Mercato in N. Naples, a mixed use “uptown chic” village, with a Whole Foods market, luxury shops, Restaurants, a movie theater and offices. It opens early ’09 and there has been a lot of “buzz” as it emerges.
Infill Communities Include: Aqualane Shores, Coquina Sands, Park Shore, Moorings, Mercato, Marbella Lakes, Pine Ridge, Seagate, Vanderbilt Beach, Olde Naples |
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