Ron "The Bear" Barakett

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