Ron "The Bear" Barakett

Bundled Golf Communities, Naples FL Weekly Update

There were 9 sales for the week; however 12 new listings increased the inventory back to 214 units from 211. The trend is for over inventoried on the condos, for instance,21 out 28 listings at Cedar Hammock are condos, Vanderbilt 32 out of 44 are condos or carriage homes. This will result in lower prices for condos across the spectrum.

Below please find the quarterly sales reports by community as well as the overall report on the 6 Bundled Golf Courses that I monitor. Anyone wanting more detailed figures and stats, contact me and no obligation, I will share my take on the market. I am looking for help at Open Houses, if you know anyone who might be interested, let me know. I also attached the Naples Daily News article regarding Fiddlers Creek and their problems.

**Bundled Golf Trivia Question for The Week**
Name the three developers who have been successful building Bundled Golf Courses (Free sleeve Nike Ignite Golf Balls to the winner) Email me your answers.  I stress this issue because they are basically financially sound, while the rest are losing members and adding assessments.

Bundled Golf Quarterly Update Report

Cedar Hammock Quarterly Report

Forest Glen Quarterly Report

Heritage Bay Quarterly Report

Naples Heritage Quarterly Report

Naples Lakes Country Club Quarterly Report

Vanderbilt Country Club Quarterly Report

Fiddler’s Creek

Have a great week!

Ron@AskTheBear.com

Bundled Golf Communities, Naples FL, Update-Week Ending 2/21/2010

There were 8 new listings and 12 sales (net) for the week across the slate of 6 Bundled Golf Courses that I monitor, reducing the inventory to 211 from last week’s 215. This inventory is not evenly distributed neither by community nor by Residential type (condos, carriages etc).

Positive side:

• Heritage Bay is down to 15 resales, no price reductions! Good news for all condo sellers, light at the end of the tunnel.
• The condo situation (LAW SUIT) at Naples Lakes effectively removes them from the competition, thereby enhancing the market for the condos elsewhere.
• The number of short sales is decreasing as people are picking them off.

Negative side:

• There is still an unhealthy balance of condos available; almost 50% of the inventory across the board consists of condos. This has already affected the pricing curves and will continue to do so.

The new flock of renters (March) are starting to pack up their vehicles, and will soon hit I-75 for their annual migration. Many will be deciding to purchase, but these are a picky group looking for value.

I have attached below macro models by community, showing overall sales, prices, and activity.

Bundled Golf Quarterly Update Report

Cedar Hammock Quarterly Report

Forest Glen Quarterly Report

Heritage Bay Quarterly Report

Naples Heritage Quarterly Report

Naples Lakes Country Club Quarterly Report

Vanderbilt Country Club Quarterly Report

Call me if you would like to focus in one particular aspect, or go to my Listing Book website and design your own searches. This is a FREE Service, available to you, your friends and family, and your colleagues.

Ron@AskTheBear.com

Mid February Update, Bundled Golf Communities – Naples FL

There were 12 new sales for the week; however 16 new properties listed yielding an increase of 4 inventories bringing us to 215. The ongoing lawsuit at Naples Lakes condominiums (Lake Barrington) will spill over and affect pricing and inventory across the spectrum of residences in this fine community. That explains the 6 new listings and price reductions. Naples Heritage has not had many sales, and had maintained a pricing premium to Heritage Bay, but that appeared to cave this week with 5 additional price reductions.

You can look at availability in any one community, and predict the “next” sale to occur. It’s still all about price. Try opening the Bundled Golf Quarterly report, pick out the lowest price unit, and watch if it doesn’t become the next sale next week. Lurking in the shadows is the 400 pound gorilla “FORECLOSURE”. There were 982 new filings in January, and the court house only disposes 400 cases a week. The overflow becomes short sale, yielding the 52% increase in sales year over year reported by NABOR. (See article below)

Bundled Golf Communities Quarterly Report

Home Sales Article from NABOR
Foreclosure Sales Article from NABOR

Vanderbilt Country Club Changes
Vanderbilt Country Club Quarterly Report

For more specific information, you can go to my award winning web site www.MLSofNaples.com, e-mail me or call me at 239/850-1366  for a free, no obligation consultation.

Please remember you are always welcomed to be my guest and search the MLS like an agent.

Ron@AskTheBear.com

Bundled Golf Communities, Naples FL. Weekly Update

Our Bundled Golf inventory has continued to shine. The magic number for the sellers is 180 units, we are at 211.There were 10 price reductions for this week. The barometer is Heritage Bay. They are the ‘market makers’ and are down to 3 distressed properties. Once relieved of this burden (to sellers, a boon to buyers) they will not be constrained other than market conditions, and we should see a slow increase in pricing. For the record there were 3 re-sale transactions at Heritage Bay last week, in addition to the 11 units sold by the builder.

I also want to introduce my subscribers to a beautiful new listing at Vanderbilt Country Club, an Estate Home on Allendale Court priced at $719,000. Enjoy the tour.

Click on the links below to view the Bundled Golf Communities’ weekly reports:

Bundled Golf Quarterly Update Report

Cedar Hammock Quarterly Report

Forest Glen Changes
Forest Glen Quarterly Report

Heritage Bay Quarterly Report

Naples Heritage Changes
Naples Heritage Quarterly Report

Naples Lakes Country Club Quarterly Report

Vanderbilt Country Club Changes
Vanderbilt Country Club Quarterly Report

Please remember you are always welcomed to be my guest and search the MLS like an agent.

Have a good week.

Ron@AskTheBear.com

Bundled Golf Communties, Naples FL – Weekly Update

It has been a rather hectic week and weekend, so this blog is late. I have had 7 e-mails complaining about my timing, I think I ought to raise the price!

We had 12 sales and 12 new listings; consequently inventory has stayed steady for the week at 215 Bundled Golf Residences in Naples FL. Golf course after another has seen a reduction in the number of “problematic” pricing issues, whether by foreclosure (REO) or “short” sale. As these units get snapped up, they are being replaced by slightly higher priced new listings, which will accomplish 3 things.

1. The elevator has stopped the free fall
2. A base is being formed
3. The number one pressure on prices has been Heritage Bay, and they are across the board, raising prices ever so slightly, except on the condos.

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

Bundled Golf Quarterly Update Report

Cedar Hammock Quarterly Report

Forest Glen Changes
Forest Glen Quarterly Report

Heritage Bay Changes
Heritage Bay Quarterly Report

Naples Heritage Quarterly Report

Naples Lakes Quarterly Report

Vanderbilt Country Club Actives
Vanderbilt Country Club Changes
Vanderbilt Country Club Quarterly Report

Florida leads the nation in infant mortality from drowning. Let’s keep our grandchildren safe. Please watch this video.
www.swimsafenaples.com

If you would like more information or have questions call Fernanda Whitney at 239-331-6915, she is the ISR Certified Instructor for Naples or go to: www.swimsafenaples.com

As always, please be my guest and search the MLS for other homes or areas at your convenience.

Stay healthy!

Ron@AskTheBear.com