The first release of quick-mov<\/span>e-in townhomes <\/span>at Sawgrass at Coral Lakes in<\/span>\u00a0northeast<\/span>\u00a0Cape Coral <\/span>are <\/span>expected to be up for sale this summer. <\/span>Centex, a national brand of Atlanta-based<\/span>\u00a0home construction company PulteGroup, began construction of two <\/span>decorated <\/span>model homes in the planned gated community of 230 townhomes<\/span>\u00a0<\/span>of<\/span>f<\/span>\u00a0Del Prado Boulevard, <\/span>less than three miles from U.S. 41<\/span>.<\/span><\/span>\u00a0<\/span><\/p>\r\n\r\n<\/div>\r\n PulteGroup purchased the land in October for $3.5 million.<\/span><\/span>\u00a0<\/span><\/p>\r\n\r\n<\/div>\r\n The models are expected to be completed in early fall<\/span>\u00a0around the same time as occupancy of the first wave of townhome<\/span>s with prices expected to start in the low $300,000s.<\/span>\u00a0<\/span>With low home inventory in Lee County, Richard McCormick<\/span>, area president of PulteGroup\u2019s Florida <\/span>Divisions, said the <\/span>Sawgrass will appeal to new homebuyers, young families, empty nesters and seasonal buyers \u201clooking for a low-maintenance lifestyle.<\/span>\u201d<\/span><\/span>\u00a0<\/span><\/p>\r\n\r\n<\/div>\r\n Sawgrass <\/span>townhomes<\/span>\u00a0offer three bedrooms, two full bathrooms, a powder room on the main floor and one - or two-car garages<\/span>\u00a0with the option for private covered lanais. Laundry spaces are located on the <\/span>second floor.<\/span><\/span><\/p>\r\n The largest townhome model <\/span>feature<\/span>s 1,<\/span>816 square feet of living space and a one-car garage<\/span>\u00a0while<\/span>\u00a0another <\/span>model offers 1,657 square feet with a two-car garage.<\/span>\u00a0<\/span>In addition to the two decorated models, Sawgrass <\/span>also has<\/span>\u00a0a floor plan <\/span>with<\/span>\u00a01,636 square feet and a one-car garage.<\/span>\u00a0<\/span>Amenities include two neighborhood pools, a fitness center, playground,<\/span>\u00a0athletic courts and fields.<\/span><\/span>\u00a0<\/span><\/p>\r\n\r\n<\/div>","post_title":"Construction begins on Sawgrass at Coral Lakes townhomes in Cape Coral","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"open","post_password":"","post_name":"construction-begins-on-sawgrass-at-coral-lakes-townhomes-in-cape-coral","to_ping":"","pinged":"","post_modified":"2022-03-16 13:02:37","post_modified_gmt":"2022-03-16 17:02:37","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.gulfshorebusiness.com\/?p=24884","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":24823,"post_author":"430","post_date":"2022-03-10 11:40:42","post_date_gmt":"2022-03-10 16:40:42","post_content":"With the area seeing rising rents and compressing vacancies over the last year, Naples-based TerraCap Management announced it seized the opportunity to grab a property it observed being built in 2016 with the <\/span>$94 million<\/span> purchase of Estero Oaks,\u202f<\/span>a 280-unit apartment complex on the northwest corner of Estero and Three Oaks Parkways<\/span>.\u202f<\/span>\u00a0<\/span>\r\n\r\nThe seller, Fort Lauderdale-based Royal Palms Cos., bought 18.14 acres in the mixed-used community for $3.4 million in 2015. Jamie May of JBM, which specializes in multifamily sales, represented Royal Palms Cos. and said the <\/span>$94 million<\/span> deal closed Monday.\u202f<\/span>\u00a0<\/span>\r\n\r\n\u201cThis property has much to offer residents from a quality, amenity and location perspective,\u201d said Steve Good, TerraCap partner and director of acquisitions. \u201cWe feel that Estero and Southwest Florida will continue to grow both in the long and short-term, and we also feel that this property is well positioned to capture future growth.\u201d\u202f<\/span>\u00a0<\/span>\r\n\r\nWith an average unit size of more than 1,100 square feet, the property, which will be managed by Greystar, offers <\/span>one-, two-<\/span> and three-bedroom floorplans with wood-style plank flooring, stainless steel appliances, granite countertops, 9-foot ceilings and a washer and dryer. Amenities include a resort-style swimming pool, fitness center, dog park, lake, jogging trail, attached garages, resident lounge with a kitchen and coffee station and package lockers. Rents range from $1,550 for a one-bedroom, one-bath unit to $2,375 for a three-bedroom, two-bath unit.<\/span>\u00a0<\/span>","post_title":"Estero Oaks apartment complex sells for $94 million\u202f","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"open","post_password":"","post_name":"estero-oaks-apartment-complex-sells-for-94-million%e2%80%af","to_ping":"","pinged":"","post_modified":"2022-03-10 11:40:42","post_modified_gmt":"2022-03-10 16:40:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.gulfshorebusiness.com\/?p=24823","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":24722,"post_author":"391","post_date":"2022-03-02 15:35:29","post_date_gmt":"2022-03-02 20:35:29","post_content":"Global real estate brokerage The Agency is launching a new franchise in Naples. The location at 852 First Ave. S., Suite 100, is the firm\u2019s 29th<\/sup> franchise among its network of offices in the United States, Canada, Mexico and the Caribbean and will be led by real estate professionals and managing partners, Chris and Kara Resop, Blair Chang, LeAnne Thrasher-Chang, Glenn Shimkus and Shantel Shimkus.\r\n\r\nFounded in 2011, The Agency is a full-service, luxury real estate brokerage and lifestyle company representing clients in a spectrum of classes, including residential, new development, resort real estate, residential leasing, and luxury vacation rentals. The brokerage\u2019s approach features agents sharing knowledge, spheres of influence, contacts and expertise with the hope of ensuring clients better representation and a true competitive edge. It has closed more than $41 billion in real estate transactions since its inception and has 850 agents in more than 50 offices.\r\n\r\nThe company launched 11 new franchises in 2021. With the debut of The Agency Naples, the company continues to grow its presence across the eastern seaboard with franchise offices spanning Boston, New Canaan, Connecticut, North Shore, New York, the Washington D.C. metropolitan area and Turks and Caicos.","post_title":"Luxury real estate brokerage The Agency opening franchise in Naples","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"open","post_password":"","post_name":"luxury-real-estate-brokerage-the-agency-opening-franchise-in-naples","to_ping":"","pinged":"","post_modified":"2022-03-03 09:20:16","post_modified_gmt":"2022-03-03 14:20:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.gulfshorebusiness.com\/?p=24722","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":24435,"post_author":"138","post_date":"2022-03-01 05:10:13","post_date_gmt":"2022-03-01 10:10:13","post_content":"The number of homes being sold in Southwest Florida last year wasn\u2019t just big. It was the largest in the country. The most recent data compiled by Porch, a home services repair platform, found that more homes were being sold per capita in Southwest Florida than any other area in the nation.\u00a0<\/span>\r\n\r\nNaples, Fort Myers and Punta Gorda all ranked in the top five metro areas nationwide, according to the data. Overall, Florida was the top state in the nation when it came to the number of homes sold per capita. About 19.7 homes per 10,000 residents were sold last year. The next closest: Nevada at 16.9 homes per 10,000 residents.\r\n\r\n A 34.5% increase in new listings sparked 19,277 more showings during January compared to new listings and showings reported in December 2021. While an increase in new listings demonstrates a solid start for the real estate market this year, low inventory continues to harness the market\u2019s potential, Naples Area Board of Realtors\u00a0reported Friday. <\/span><\/p>\r\n\r\n<\/div>\r\n As a result of tight inventory, January sales activity could not meet the level of sales activity reported in January 2021. Historically, month-to-month sales activity during season ascends through April. But according to broker analysts reviewing the January 2022 market report released by NABOR, a 74.9% decrease in inventory for January to 1,122 homes from 4,474 homes in January 2021 will not provide the same level of sales transactions that occurred last season.<\/span><\/p>\r\n\r\n<\/div>\r\n \u201cLow inventory does not mean there are not opportunities for buyers in 2022,\u201d said Ryan Bleggi, president of NABOR and managing broker for John R. Wood Properties. \u201cIn fact, as expected at the start of season, there was an increase in new listings during January compared to December, so buyers could explore an inventory that included 1,272 new listings.\u201d<\/span><\/p>\r\n\r\n<\/div>\r\n Those new listings translated to a 32% increase in pending sales to 1,373 pending sales during January compared to 1,038 pending sales reported in December.<\/span><\/p>\r\n\r\n<\/div>\r\n \u201cCash sales exceeded 63% in January which is a good sign and proof that there is plenty of equity in the market,\u201d said Adam Vellano, a Naples sales manager at Compass Florida. \u201cBuyer demand has not slowed down and we\u2019re seeing a rise in multiple offer situations as well as homes selling for above list price.\u201d<\/span><\/p>\r\n\r\n<\/div>\r\n The overall median closed price increased 39% in January to $549,000 from $395,000 in January 2021. The condominium market continued to report sales at an above list price trend for the second month in a row, and a 47.2% increase in median closed price in January to $427,000 from $290,132 in January 2021. The median closed price for single-family homes rose 25.1% in January to $675,000 from $539,500 in January 2021.<\/span><\/p>\r\n\r\n<\/div>\r\n With less than a one-month supply of homes, closed sales during January could not realize the level of activity it experienced a year ago and decreased 27.9% to 818 closed sales from 1,134 closed sales in January 2021. Pending sales \u2013 which reflect the number of new homes under contract \u2013 decreased 37.9% to 1,373 from 2,210 in January 2021; but, as mentioned above, pending sales in January increased by 335 contracts (32%) compared to pending sales reported in December 2021 (1,038).<\/span><\/p>\r\n\r\n<\/div>","post_title":"Low inventory, high demand continue to push home prices up in Naples","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"open","post_password":"","post_name":"low-inventory-high-demand-continue-to-push-home-prices-up-in-naples","to_ping":"","pinged":"","post_modified":"2022-02-28 08:35:37","post_modified_gmt":"2022-02-28 13:35:37","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.gulfshorebusiness.com\/?p=24597","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":24025,"post_author":"428","post_date":"2022-01-26 14:33:12","post_date_gmt":"2022-01-26 19:33:12","post_content":"Located on a private driveway off McGregor Boulevard in Fort Myers, one that cuts between Coconut Drive and Braman Avenue, a 10,000-square-foot luxury home could be one for the record books.\r\n\r\nListed at $15.9 million, it could become the highest-priced home to sell on mainland Lee County. It could exemplify the hot real estate market that prompted owners Herbert and Gabi Baum to enlist Coldwell Banker Global Luxury agents Lori Fowler and Damon Vetere in selling it.\r\n\r\n\u201cIt\u2019s architecture meeting art,\u201d said Fowler, who gave\u00a0Gulfshore Business<\/i>\u00a0a tour of the home. \u201cAll this marble from Italy. He picked wood for the cabinetry from Germany. Look at the kitchen cabinet doors. No handles. It\u2019s about space and efficiency. You\u2019ll never see an air conditioning vent. They\u2019re all hidden in the crown molding.\u201d\r\n\r\nSales of homes that cost $50 million or more climbed by 35% in 2021 from 2020, with 40 such properties selling last year, according to data compiled by the\u00a0Wall Street Journal<\/i>.\r\n\r\nIn a separate article, the\u00a0WSJ<\/i>\u00a0featured the Fort Myers home on Jan. 12.\r\n\r\nFowler\u2019s livelihood as a real estate agent has been boosted by the state of the market. She had a hand in closing more than $40 million worth of properties last year, she said.\r\n\r\nHomes costing $10 million or more were hot commodities in Southwest Florida. Three such homes sold last year in Lee County. All of them were on Captiva or Sanibel islands.\r\n\r\nIn Collier County? A much different story, with 59 such homes selling last year, according to data pulled by real estate agent Denny Grimes.\r\n\r\n Development surrounding the Punta Gorda Airport continues to grow with 2.5 million square feet already developed and 1.5 million square... Collier County is seeking developers’ proposals for multifamily developments with affordable and workforce housing that can be considered for local... A delay of at least a year in finishing the Southwest Florida International Airport terminal expansion construction project prompted elected... At a May 15 meeting, Punta Gorda City Council unanimously denied the request of Fishermen’s Village representatives to extend the... When Hurricane Ian savaged Wonder Gardens, the roadside attraction that has stood for nearly nine decades along Old U.S. 41,...GET SOUTHWEST FLORIDA'S BEST VIEW OF BUSINESS STRAIGHT TO YOUR INBOX.
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