Spring Run Monthly Market Report                                           May   2010

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Greetings Neighbor!
Before we get into the "State of our Market" I would like to wish all Mom’s a very blessed Mother’s Day.    There is no doubt in my mind, I would not be where I am at if it was not for the love and support my mother showed me and continues to do so every day.  After all, as quoted by Rudyard Kipling, "God could not be everywhere and therefore he made Mothers. "  Thank you Mom, I love you!

State of our Market; we are seeing great signs of a balanced market.    The sales numbers just came in for the first quarter of 2010, and as a result we can get a good picture of how the real estate market is looking in Naples, Bonita, and Estero. I am pleased to say that the area isMichael Burke already showing a lot of promise for the year: The number of closed sales for first quarter 2010 is the highest it’s been since 2005, and inventory has dropped about a third since it hit its peak in 2008. Additionally, prices are stabilizing, helped along by the decreasing inventory.  
Click here to read the entire article that was published in the News Press May 1, 2010 (Editor’s note: When you read the entire article please note the price segments and the activity level for each.)
As you know, my Team (The Coconut Point Team) understands the importance of providing you accurate real estate data and trends. That is why we spend a lot of time reviewing an interpreting the data for you.
 

In addition, with 90% of home buyers and sellers starting their research on the Internet is why we continue to enhance our websites and Internet presence. I would like to point out a few of our latest new or enhanced features to assist you in the buying or selling process. (Click on each item to see for yourself)  

Choose Michael Burke as your real estate professional
and sit on the side of success.Michael is in the top 1% of all agents in the Bonita Springs / Estero market place.   Buyers and sellers do not sit on the side line any longer, call me now free consultation.

Office: 239-498-7600
Cell:    239-777-0473
E Fax: 1-866-890-4452 
 
"Michael is not your traditional realtor"


Spring Run Market Report
 
Click to View Spring Run Market Trends
Spring Run Market Trends April 2010


Season Year Round when it comes to Real Estate Sales
D. Michael Burke, News-Press April 24, 2010
 

In many areas of the country, there is a distinct buying season, when there are more buyers, more homes on the market, and more closed sales. For a variety of reasons, buyers tend to take a break in the winter and make a comeback in the spring. The buying season then lasts until fall, when sales begin to slow, and the cycle starts all over again.

What many buyers in Southwest Florida don’t realize is that the conventional buying season logic doesn’t apply here. For a variety of reasons, the Southwest Florida real estate market doesn’t have the same ebb and flow that other areas do – the flow of buyers, listings, and closed sales remains pretty constant here.


Real Estate at Mediterra selling after ownership changes 

Contributed by Ken Plonski, marketing, London Bay Homes, Naples Daily News May 1, 2010

Last fall, the local real estate economy and an ownership dispute between the developer of Mediterra and its homeowners stalled home sales at the North Naples community.

FrontTwo events in December brought new life into the community. First, on Dec. 4, the membership purchased the assets of the golf and beach club from the Bonita Bay Group. Less than two weeks later, London Bay homes purchased the remaining 50 single-family and villa homesites in the community and assumed sales and marketing activities at Mediterra.

(Editors note: this same trend was observed in Shadow Wood at The Brooks and Bonita Bay)


Anatomy of a Crisis

Scott Kauffman – GolfIncMagazine.com – Spring 2010
 
Bonita Bay was scrambling to fight off bankruptcy after a "run on the bank" for membership refunds.  How it survived.
 

 

The Bonita Bay Group had a strategy that worked wonders for the golf community developer.  Build high-end communities with exceptional private golf courses, run them efficiently, and offer a highly unique and attractive membership fee refund policy. 

The Southwest Florida-company opened its flagship Bonita Bay community in the Naples area in 1985, and it quickly became a model club for sustainability – both environmentally and operationally.  The company then parlayed its strategy into success with 13 courses.

Bonita Bay SignFor 25 years, Bonita Bay chairman David Lucas and his team proudly stood by their rare policy that allowed any member to have their membership deposit fully refunded – at any time – within 30 days.  No questions asked.  There was no waiting for a certain number of new members to join before Bonita Bay would return members’ deposits that ranged from $30,000 to $180,000.


Attorney General adds allegations of fraud to lawsuit against Bonita Bay Group

By LAURA LAYDEN – May 3, 2010 – Naples Daily News 

The Florida Attorney General’s Office has beefed up its lawsuit against Bonita Bay Group, adding new allegations of fraud.

 
The revised complaint is based on depositions of David Lucas, chairman of the Bonita Bay Group, and a chief restructuring officer, who recently left the company after helping to turn its finances around.
 
"We have previously addressed similar allegations in isolated claims by certain of our resigned club members," said Brian Lucas, vice chairman of Bonita Bay Group, in a statement. "The claim rests on fundamental errors of fact and law that we will address in court," he said.
 
The lawsuit was amended late Friday. A representative for the Florida Attorney’s General Office had no comment.
 

 
 

In today’s market it takes a lot more than just listing your house on the MLS.  D. Michael Burke, Professional Luxury Expert, of Keller Williams Elite Realty has proven to be the industry leader in SW Florida real estate. The combination of KW’s resources and my personal and flexible marketing plan make me, Michael Burke, your best choice when choosing a REALTOR in today’s market.

 

If you or someone you know is in the market to buy or sell a home in SW Florida, please feel free to contact me to discuss our real estate products and services. "Experience the Luxury Lifestyle"

 

Sincerely,

D. Michael Burke, P.A.
Keller Williams Elite Realty

Local: 239-498-7600 

Cell: 239-777-0473

E Fax: 866-890-4452 

Email: Michael@CoconutPointRealEstate.com

Keller Williams Elite Realty

 

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