Stock Construction has released the floor plans for the Avonlea neighborhood in Lely Resort, a country club community in Naples.
Located in the northern half of Lely Resort, Avonlea is a private neighborhood of single-family homes on three cul-de-sacs surrounded by nature preserves and fairways of The Classics golf course.
Avonlea offers five Mediterranean-style floor plans, each offering a three-car garage and pool and spa options. Pricing begins at $594,990.
The Scottsdale has three bedrooms, a study and three baths with 2,546 square feet under air and 4,142 total square feet. This open floor plan includes living and dining rooms and an informal breakfast room adjacent to the kitchen. The lanai offers a free-form pool and spa surrounded by a furnished sun deck with an outdoor kitchen.
The Monterey is a courtyard-style four-bedroom, three-bath home with 2,651 square feet under air and 4,036 total square feet, including an attached three-car garage and a screened and covered lanai with outdoor kitchen. There is a family room as well as formal living and dining rooms. The home offers a private detached guest suite overlooking the pool.
The Harbourtown is a three-bedrooms, study, three-bath home with 2,772 square feet under air and 4,279 total square feet. This open floor plan is built around the pool and outdoor living area. It includes a large great room overlooking the pool and spa, as well as an island-style kitchen and a formal dining room. The master suite includes bay windows with views of the pool.
The Greenbriar is a three-bedroom, study, three-bath home with 2,824 square feet under air and 4,143 total square feet, including an attached three-car garage. This open floor plan includes a formal living room and an informal family room, both of which have access to the pool and lanai area. It also includes a formal dining room and an island-style kitchen with a breakfast nook.
The Pinehurst is a courtyard-style four-bedroom, with study, 3.5-bath home with 2,889 square feet under air and 5,542 total square feet including an attached three-car garage, courtyard with pool, and a covered lanai at the rear of the home. One of the bedrooms is a detached guest suite that overlooks the courtyard and includes a kitchenette.
Amenities at Lely Resort include The Players Club & Spa, three golf courses and two golf clubhouses within the community. The Players Club & Spa offers 20,000-plus square feet under air and features a fitness center, a full-service spa, a resort-style pool and a tennis complex.
Source: Naples Daily News
February 16, 2008
Friday, February 22, 2008
Monday, February 18, 2008
Move to England, Get a Free House!
A failed businessman who has paid nothing towards a mortgage on his home for more than 15 years, had the debt wiped out by senior judges.
Djabar Babai was told he had effectively acquired "squatters' rights" over his £250,000 detached home, as his dispute with his mortgage lender has dragged on for so long.
Read Full Story
Source: Daily Mail, London, England
Djabar Babai was told he had effectively acquired "squatters' rights" over his £250,000 detached home, as his dispute with his mortgage lender has dragged on for so long.
Read Full Story
Source: Daily Mail, London, England
Sunday, February 17, 2008
NABOR Report Shows Strong Condo Sales
FOR IMMEDIATE RELEASE
Contacts:Arlene Carozza, NABOR, President, 239/877-7411
Michele Karrasch, NABOR, Manager of Events & Marketing, 239/216-4148
NABOR REPORTS JANUARY REAL ESTATE TRANSACTIONS
Report Shows Strong Condo Sales and Reduced Median Price
NAPLES, Fla. – February 14, 2008 – January home sales were up slightly compared to a year ago, including an 11 percent increase in condo sales, announced in a report released by the Naples Area Board of Realtors® (NABOR), which tracks home listings and sales within Collier County (excluding Marco Island).According to NABOR President Arlene Carozza, a Realtor® and corporate trainer with Amerivest Realty, while overall pending sales decreased year-to-date, the report includes many positive indicators of market activity."The momentum we saw last month is continuing and sales are being made, especially in the condominium market and single-family homes under $300,000." Carozza stated.The report, which provides single-family home and condo data, price ranges and geographic segmentation by zip code, also includes an overall market summary. The statistics are presented in chart format, along with the following analysis:
Overall home sales in the greater Naples Area, which includes Naples Beach, North Naples, Central Naples, South Naples, East Naples, Immokalee and Ave Maria, were up by three units, 264 in January 2008 compared to 261 in January 2007.
Condo sales were 142 in January 2008 compared to 126 in January 2007, an 11 percent increase.
Overall home sales in the less than $300,000 category saw the largest increase with 103 in January 2008 compared to 81 in January 2007. Pending sales increased 42 percent from 128 to 182.
Overall home sales in the $500,000 - $1million category saw a slight decrease with 50 in January compared to 60 for the same month last year. Pending sales dropped from 92 in January 2007 to 65 this year.
The overall median sales price decreased 7.3 percent year-to-date.
Tom Bringardner, president of Premier Properties, acknowledges that reduced pricing in the low end of the market has spurred sales in that segment. "This has helped to absorb some of the excess inventory and will assist in returning the market to normal conditions," he said.
According to Phil Wood, president of John R. Wood Realtors, a seven percent reduction is far less than national media stories would lead one to believe. "The perception is that home prices in Naples have decreased 30 to 40 percent and this is not the case," explained Wood. "The fact is that Naples area properties continue to retain their value, even in the down market of the last two years."
View the Market
Contacts:Arlene Carozza, NABOR, President, 239/877-7411
Michele Karrasch, NABOR, Manager of Events & Marketing, 239/216-4148
NABOR REPORTS JANUARY REAL ESTATE TRANSACTIONS
Report Shows Strong Condo Sales and Reduced Median Price
NAPLES, Fla. – February 14, 2008 – January home sales were up slightly compared to a year ago, including an 11 percent increase in condo sales, announced in a report released by the Naples Area Board of Realtors® (NABOR), which tracks home listings and sales within Collier County (excluding Marco Island).According to NABOR President Arlene Carozza, a Realtor® and corporate trainer with Amerivest Realty, while overall pending sales decreased year-to-date, the report includes many positive indicators of market activity."The momentum we saw last month is continuing and sales are being made, especially in the condominium market and single-family homes under $300,000." Carozza stated.The report, which provides single-family home and condo data, price ranges and geographic segmentation by zip code, also includes an overall market summary. The statistics are presented in chart format, along with the following analysis:
Overall home sales in the greater Naples Area, which includes Naples Beach, North Naples, Central Naples, South Naples, East Naples, Immokalee and Ave Maria, were up by three units, 264 in January 2008 compared to 261 in January 2007.
Condo sales were 142 in January 2008 compared to 126 in January 2007, an 11 percent increase.
Overall home sales in the less than $300,000 category saw the largest increase with 103 in January 2008 compared to 81 in January 2007. Pending sales increased 42 percent from 128 to 182.
Overall home sales in the $500,000 - $1million category saw a slight decrease with 50 in January compared to 60 for the same month last year. Pending sales dropped from 92 in January 2007 to 65 this year.
The overall median sales price decreased 7.3 percent year-to-date.
Tom Bringardner, president of Premier Properties, acknowledges that reduced pricing in the low end of the market has spurred sales in that segment. "This has helped to absorb some of the excess inventory and will assist in returning the market to normal conditions," he said.
According to Phil Wood, president of John R. Wood Realtors, a seven percent reduction is far less than national media stories would lead one to believe. "The perception is that home prices in Naples have decreased 30 to 40 percent and this is not the case," explained Wood. "The fact is that Naples area properties continue to retain their value, even in the down market of the last two years."
View the Market
Sunday, February 3, 2008
Real Estate Investors - Do you have the HERD mentality?
Excerpt from the Book - Making Hard Cash in a Soft Real Estate Market by Wendy Patten and Justin Ryan.
The slowdown in the real estate has sent some investors fleeing from the market. But those bailing out may be missing opportunities, say the authors of Making Hard Cash in a Soft Real Estate Market (Wiley, 2007). There are still big bucks to be made — even in a down cycle. In fact, authors Wendy Patton and Justin Ryan argue that “more money has always been made in a down market than in an up market.” They highlight how investors can snag the best buys, master market-timing and risk management, and prepare finances — all to better help you become a savvy investor in any type of market.
From the Book: 5 Investor Tips in a Slower Market
Slower markets can offer rich opportunities for investors: real estate sellers are more open to negotiate and lower home prices — and combined with low interest rates — can help you get properties at bargain levels. Yet, some buyers are reluctant.
“The market may not look perfect,” the authors write. “This is why prices haven’t taken off yet” — and why you want to get in before they do! The book offers the following tips:
1. Timing is everything. Enter the market cycle early. “When it’s quiet, when the media isn’t saying ‘record levels of appreciation,’ that’s when you want to jump in,” the authors write. As billionaire oilman J. Paul Getty once said: “Buy when everyone else is selling and hold until everyone else is buying.”
2. Get financially ready. Before you buy, consider holding costs, tax implications, and cash flow potential. Many things can go wrong when buying investment properties — such as a vacant rental or a property that won’t sell. Have cash reserves (get a partner if you don’t have any) and you’ll be prepared to ride out any market cycle. Identify your risk level and what you want: For example, an investor who wants to turn a quick profit with low holding costs would want to sell their new-home property before construction is complete. On the other hand, an investor looking for a bigger return with less capital gains tax would want to hold the property until after construction is complete and keep it as a rental property for at least one year.
3. Buy and hold. In a distressed market, this can be a smart move. A buy-and-hold strategy can help give the property an opportunity to appreciate over time. Buy at the right price, though. Compare the home’s price to what homes are selling for over a reasonable time period in that
community and what you expect is the lowest price the market will reach. Get in at that price. Consider lease option investments so you can rent the property to cover payments, having the property practically pay for itself each month. Also, continue to pay down the mortgage and eventually you may even have the home paid off — an ideal position for an investor!
4. Find best deal. In a slow market, you can get great deals — and some extras. Builders overbuilt during the housing boom, resulting in high inventories of unsold properties. Now, many builders report slashing prices, offering free upgrades, absorbing all financing points for their buyers, and paying closing costs or fees. Extras aside, other good investment properties include homes five years old or less and properties in the $200,000-range, which can particularly be desirable to a large pool of buyers. Also, look for a property in an emerging market. Some indicators: sales of existing homes and new construction permits are starting to trend upward, supply is steadily dropping, mortgage loan defaults are high but starting to fall, days-on-market move below 90, and low interest rates.
5. Have an exit strategy. Have a selling strategy in place before you buy so you’re not just randomly banking on the property appreciating and then doing a quick sale. Come in with a solid selling plan. For new construction investing, your selling options might be to assign your purchase contract during the construction period, sell when construction is complete, lease and then sell, or a lease option. Reduce the taxable impact of selling your real estate investments by talking to your tax adviser about a 1031 exchange or self-directed IRA. “Know how you will get out before you get in!” the authors advise.
“When markets go soft, things get interesting. Even though an abundance of opportunity exists in a soft market, many people still won’t take action. Why is this? Because by nature, people follow a ‘herd’ mentality. Most people believe that for something to be the ‘right’ thing to do, many people need to be doing it. Actually, this is not true at all. … An experienced insider’s secret — that many folks don’t want you to know — is this … When the markets go soft the playing field is being ‘reset.’ Short-term opportunities are removed and an abundance of opportunity gets created for the seasoned investors who know how things really work.”
About the Authors
Wendy Patton, also the author of Investing in Real Estate With Lease Options and Subject-To Deals (Wiley), is a broker with several real estate offices nationwide. She, along with her co-author Justin Ryan, also are real estate trainers, on such topics as lease options and pre-construction investing. Ryan is also a real estate practitioner in Michigan.
The slowdown in the real estate has sent some investors fleeing from the market. But those bailing out may be missing opportunities, say the authors of Making Hard Cash in a Soft Real Estate Market (Wiley, 2007). There are still big bucks to be made — even in a down cycle. In fact, authors Wendy Patton and Justin Ryan argue that “more money has always been made in a down market than in an up market.” They highlight how investors can snag the best buys, master market-timing and risk management, and prepare finances — all to better help you become a savvy investor in any type of market.
From the Book: 5 Investor Tips in a Slower Market
Slower markets can offer rich opportunities for investors: real estate sellers are more open to negotiate and lower home prices — and combined with low interest rates — can help you get properties at bargain levels. Yet, some buyers are reluctant.
“The market may not look perfect,” the authors write. “This is why prices haven’t taken off yet” — and why you want to get in before they do! The book offers the following tips:
1. Timing is everything. Enter the market cycle early. “When it’s quiet, when the media isn’t saying ‘record levels of appreciation,’ that’s when you want to jump in,” the authors write. As billionaire oilman J. Paul Getty once said: “Buy when everyone else is selling and hold until everyone else is buying.”
2. Get financially ready. Before you buy, consider holding costs, tax implications, and cash flow potential. Many things can go wrong when buying investment properties — such as a vacant rental or a property that won’t sell. Have cash reserves (get a partner if you don’t have any) and you’ll be prepared to ride out any market cycle. Identify your risk level and what you want: For example, an investor who wants to turn a quick profit with low holding costs would want to sell their new-home property before construction is complete. On the other hand, an investor looking for a bigger return with less capital gains tax would want to hold the property until after construction is complete and keep it as a rental property for at least one year.
3. Buy and hold. In a distressed market, this can be a smart move. A buy-and-hold strategy can help give the property an opportunity to appreciate over time. Buy at the right price, though. Compare the home’s price to what homes are selling for over a reasonable time period in that
community and what you expect is the lowest price the market will reach. Get in at that price. Consider lease option investments so you can rent the property to cover payments, having the property practically pay for itself each month. Also, continue to pay down the mortgage and eventually you may even have the home paid off — an ideal position for an investor!
4. Find best deal. In a slow market, you can get great deals — and some extras. Builders overbuilt during the housing boom, resulting in high inventories of unsold properties. Now, many builders report slashing prices, offering free upgrades, absorbing all financing points for their buyers, and paying closing costs or fees. Extras aside, other good investment properties include homes five years old or less and properties in the $200,000-range, which can particularly be desirable to a large pool of buyers. Also, look for a property in an emerging market. Some indicators: sales of existing homes and new construction permits are starting to trend upward, supply is steadily dropping, mortgage loan defaults are high but starting to fall, days-on-market move below 90, and low interest rates.
5. Have an exit strategy. Have a selling strategy in place before you buy so you’re not just randomly banking on the property appreciating and then doing a quick sale. Come in with a solid selling plan. For new construction investing, your selling options might be to assign your purchase contract during the construction period, sell when construction is complete, lease and then sell, or a lease option. Reduce the taxable impact of selling your real estate investments by talking to your tax adviser about a 1031 exchange or self-directed IRA. “Know how you will get out before you get in!” the authors advise.
“When markets go soft, things get interesting. Even though an abundance of opportunity exists in a soft market, many people still won’t take action. Why is this? Because by nature, people follow a ‘herd’ mentality. Most people believe that for something to be the ‘right’ thing to do, many people need to be doing it. Actually, this is not true at all. … An experienced insider’s secret — that many folks don’t want you to know — is this … When the markets go soft the playing field is being ‘reset.’ Short-term opportunities are removed and an abundance of opportunity gets created for the seasoned investors who know how things really work.”
About the Authors
Wendy Patton, also the author of Investing in Real Estate With Lease Options and Subject-To Deals (Wiley), is a broker with several real estate offices nationwide. She, along with her co-author Justin Ryan, also are real estate trainers, on such topics as lease options and pre-construction investing. Ryan is also a real estate practitioner in Michigan.
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