Naples Real Estate

The boat docks planned for The Dunes have been put on hold. The Dunes, a luxury codominium community off Vanderbilt Drive and Blubill Avenue, had hoped to build 49 slips in the mangrove area near Turkey Bay, and be a private amenity for owners in the community. But concerns for the protection of manatees have stopped progress at the moment. Residents of Vanderbilt Beach have also raised concerns over boat traffic. The boat dock plans include 39 slips for boats up to 35 feet and 10 slips for boats up to 30 feet.

Getting a mortgage for that new home purchase in Pelican Bay, Barefoot Beach, or Grey Oaks? How about for that condo in Olde Naples, Pelican Marsh, or Tiburon? Two words of warning: If you are thinking about cancelling a credit card where you have no balance in order to improve your credit score, “Think Twice.” Credit specialists warn that by doing that you will only drive up the amount of your debt as a percentage of how much credit you have available. This could end up lowering your score, the last result you want.

A study by the Tax Foundation finds that Florida is No. 4 in the nation for a tax code that’s friendly to businesses. And the top three states for businesses (Wyoming, South Dakota, and Alaska) lack the Sunshine State’s warm weather and our great leisure-time activities. The ranking comes from the third edition of the Tax Foundation’s State Business Tax Climate Index. The study ranks the 50 states on how “business friendly” their tax systems are to provide a roadmap for state lawmakers concerned about their state’s tax-competitiveness in attracting and keeping businesses. Generally the index rewards tax codes that are neutral; that is, they have low, flat tax rates that apply to everyone. This makes tax law simpler and more transparent and avoids double taxation. Best known for its annual calculation of Tax Freedom Day, the Tax Foundation is a nonpartisan, nonprofit organization that has monitored fiscal policy at the federal, state and local levels since 1937.

What Bubble? According to the latest statistics, home builders in Collier County had a great month in February. While experiencing a decline in January over the previous year, the number of housing starts in February jumped 16% this year compared to 2005. The value of these permits increased even more dramaticly, a 25% gain! Additionally, the median (meaning half above & half below) closed sales price for homes in Naples reached $511,400 in January, an all-time record.

Whether you are a first time visitor, an annual vacationer, or a full time resident, now is the time to say your farewells to the Vanderbilt Inn. This landmark hotel, located directly on Vanderbilt Beach, will be closing its doors on April 30, to make way for a new condominium project. For over 30 years this hotel and its staff have been welcoming visitors and locals alike, as it is well known for its tiki bar and the sunset watch. Hopefully there is some truth that the tiki bar may remain open a little while longer after the hotel ceases operation.

Ave Maria University and the town of Ave Maria continue to explode with progress. Less than a month after Gov Bush was there for the ceremonial groundbreaking, the first residential units have been put quietly on the market. These consist of roughly 70 condominiums in a mixed-use property called La Piazza. The condos will be on the second and third floors, with retail space on the ground floor. These 2 and 3 bedroom units range in price from the mid $300,000’s to the mid $600,000’s. Owners will have between 1,150+ sq. ft. to over 1,800 sq. ft. of living space, depending on the model chosen, as well as a lanai.

The long awaited beach-widening in Collier County has now begun in earnest. This project will make the shoreline between 85 feet and 100 feet wide along the roughly 8 mile stretch of beach, practically doubling its width. Underwater sand from near Captiva is being transported to a barge floating more than 2 miles offshore, before eventually being pumped onto the beach areas. Bulldozers then will smooth the sand out, giving the shoreline an easy slope and eye-catching appearance. The project is starting at Vanderbilt Beach, and then will continue southward to Pelican Bay, Park Shore, and the Naples’ beaches.

The records just keep coming for Southwest Florida International Airport. This great new facility handled in excess of 725,000 passengers in January, 2006, representing a 7.4% increase over the previous year. The executive director of the Lee County Port Authority, Robert Ball, stated in a release, “The year 2006 is starting out strong and there is every indication that it will continue to be another banner year for the airport. It’s great to have the room to accommodate this growth thanks to our spacious, new terminal.”

 Are you looking for a little diversity in your real estate investment portfolio? How about a new idea for your 1031 exchange? Have you ever considered a hotel condominium? The Inn at Pelican Bay has just completed its conversion, and now has rooms for sale, even while the rooms are continually rented out on a daily basis. This is fee simple ownership where you can purchase a furnished room of a hotel and share with the management company the room rentals and thereby generate income. You can also have the option of staying in your room, enjoy the services and amenities of the hotel, and then rent it out when you are not there, depending on the plan you choose. However permanent residency is prohibited. The totally renovated Inn at Pelican Bay, located at the north end of Pelican Bay and near Vanderbilt Beach, and the new Bellasera Resort on Tamiami Trail in Olde Naples near 5th Avenue are two world class properties here in Naples that offer this type of opportunity. If this sounds interesting to you or if you have any questions, please contact Chris or Dick.

More and more single and divorced women are buying residential real estate. According to a report by the National Association of Realtors, single and divorced women constituted 21% of U.S. home buyers in 2005. This is a dramatic increase from only 14% in 1995. The 2005 Profile of Home Buyers and Sellers also stated that single men buyers made up 9% of the house buying market in both years. The largest decrease came in the married couples category, where the percentage dropped from 70% in 1995, to 61% for 2005.