Ron "The Bear" Barakett

Bundled Golf Communities, Naples FL – Weekly Update

Activity for the week
Active listings      238
New listings             5
Sales                       4
Contingent Sales      3
Closings                   1

Price per square foot at Heritage Bay and the number total of Bundled Golf Active listings are the 2 most important numbers to watch. These will influence the value of your property, should you decide to market it, as well as the price you can expect to pay for your next purchase. The details are below by golf course, and if you want to look at these in more detail, refer to my website www.MLSofNaples.com and/or e-mail me a request.

Bundled Golf Quarterly Update Report
Cedar Hammock Quarterly Report
Forest Glen Quarterly Report
Heritage Bay Quarterly Report
Naples Heritage Quarterly Report
Naples Lake Quarterly Report
Vanderbilt County Club Quarterly Report

I also attached the editorial from Sunday, December 27, 2009 Naples Daily News regarding some condominium legal problems in one of the Bundled Golf Courses.

Please feel free to be my guest and search the MLS for other homes or areas at your convenience.

Don’t even think of buying or selling without consulting with me.

Happy New Year!

Ron@AskTheBear.com

Bundle Golf Communities – Weekly Updates

I have attached the week’s activities for the 6 Bundled Golf Courses that I favor. You can ‘open’ whichever of these pertains to you. In addition to that information here are some price guidelines to use in evaluating your property.

The basic unit I refer to is a first floor condominium, with no garage. This would be the entry level to all but Naples Lakes, whose condos all have underground garages.

When a community overprices itself, then suddenly there are no more sales.
Forest Glen    @   $105.00/ square foot
Heritage Bay        $112.00/square foot
Cedar Hammock  $122.00/square foot

Naples Heritage and Vanderbilt Country Club historically have been a shade under Cedar Hammock,  but sellers are trying to exceed these guidelines so their sales have slowed right down, and the number of available units is now increasing slightly. It is an art to extrapolate these numbers, I am pretty good at it, and if you would like to know what your sell $dollar number is, call me.. If you are looking to upgrade or have friends looking, I can provide the BUY $Dollar number, whatever the size of the residence.

Click on the links to view the Bundle Golf Communities reports:

Cedar Hammock

• Quarterly Report

Forest Glen

• Changes
• Quarterly Report

Heritage Bay

• Changes
• Quarterly Report

Naples Heritage

• Changes
• Quarterly Report

Naples Lakes Country Club

• Changes
• Quarterly Report

Vanderbilt Country Club

• Changes
• Quarterly Report

Bundle Golf Active Listings Report

Quarterly Update Report

Please feel free to be my guest and search the MLS for other homes or areas at your convenience.

At your service, and wishing you all a Merry Christmas or Happy Hanukkah, or whatever is appropriate, next report will be leading us to a New Year.

Ron@AskTheBear.com

Naples FL Real Estate – Seems to be different.

December is normally a slower month in the real estate business. This seems to a different setting:

1. The number of showings has not fallen off
2. An associate of mine sold 3 new condominiums at Heritage Bay for the week
3. We have a new format for this weeks report  “QUARTERLY UPDATE” lists all the usual information, however the changes from last week appear at the top of the list.
4. There was unprecedented activity , new listings closings sales.
5. You will note that all the activity is at those properties priced competitively in relation to other like properties being offered.

Forest Glen with 51 active FOR SALE UNITS still has almost 70% more units to sell than the other 5 communities. Heritage Bay has only 28 Any of these Bundled Courses that remains consistently below 26 properties will reach stability in pricing.

Please click here to view the Quarterly Update Report

Please click here to view the Bundle Equity Golf Report.

Please click here to view the Bundled Golf Active Report.

Please feel free to be my guest and search the MLS for other homes.

Hope everyone enjoys the coming Christmas Holiday and/or the present Hanukkah High Holiday.

Ron@AskTheBear.com

Bundle Golf

ORIGINATION
The prototype for this uniquely Southwest Florida Planned Urban Community (PUD) was Kelly Greens in Fort Myers, Florida back in the mid 1980’s. The Golf Course and Clubhouse and pools and other amenities belong to the Homeowners Association. There are no dues, only maintenance fees that range from $3800 to $4300 annually.

COMPONENTS
There are usually 4 or 5 residential products offered, starting with

1. Higher density condominiums with elevators, approximately 30 or more units per building
2. Walkup condominiums with attached or detached garages(Carriage Homes or Verandas, depending on the developer)
3. Lower density Coach Homes (4 plex) or duplex again depending on the developers plans
4. Detached homes called Villas or Executive Homes
5. Larger homes referred to as Estate Homes

DENSITY/DEMAND
The distribution is approximately 800 units (front doors) per 18 holes of golf comprising a mix of the 5 product lines. A good balance would consist of 5% of the units on the market at any one time. If the distribution is proportional to the original mix, prices tend to be stable within the community so long as the price per square foot is not dramatically out of line with other similar Bundled Communities.

There is a free weekly report that provides all the information needed to evaluate market conditions. Go to www.MLSofNaples.com to subscribe for this FREE Report.

Ron@AskTheBear.com