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August 27, 2020

Posted:
Market Updates:
  • As Competition Increases, How Long Will Bidding Wars Last? Click Here
  • Bank repossessions of homes plunge to lowest level in at least 15 years: Click Here
  • Fla.’s Single-Family For-Sale Inventory Hits Record Low in 2Q: Click Here
  • Housing starts soar 22.6% in July: Click Here
  • Builder Confidence Index Hits Record High in Aug.: Click Here
 

Now You Know:

  • New Listings Climb for the First Time Since the Pandemic’s Start: Click Here
  • COVID-19 Boosted Number of Rich New Yorkers Moving to Fla: Click Here
  • United plans to ramp up nonstop flights to Florida during winter out of Northeast, Midwest: Click Here
  • What History Can Tell Us About Commercial Vacancies: Click Here
  • What Do Americans Want? Check Their Google Searches: Click Here
  • Short-term rentals are outperforming hotels, here’s how one company is helping property owners: Click Here
  • Mortgage refinancing is getting more expensive as Fannie Mae, Freddie Mac add ‘COVID fee’: Click Here
  • Harmless plants could be a clue to bigger issues with water quality: Click Here


Local Updates:

  • Ritz-Carlton Golf Resort Naples investing $8 million in expansion: Click Here
  • What’s with all those pipes around Immokalee Road and Logan Blvd.?: Click Here
  • Demand for Fort Myers affordable housing at an all-time high: Click Here
  • City, county and state continue efforts to improve Naples Bay: Click Here
  • Developer releases new renderings of major residential project in North Naples: Click Here
  • Sea turtle nests crush records on Fort Myers Beach: Click Here
  • Timeline for new downtown Naples parking garage could move up: Click Here
  • Paradise Isle development in North Fort Myers still faces approval hurdles: Click Here
  • RECORD-BREAKING STREAK CONTINUES FOR AVE MARIA NEW HOME SALES.  New home sales in the master-planned community of Ave Maria have reached a record-breaking high. Ave Maria Development reports 52 new homes sales during the month of July, the third straight month of unmatched sales for the hometown in Southwest Florida. Year-to-date the community reports over 225 new home sales. Home sales were reported from the four residential builders in Ave Maria— CC Homes, Del Webb Naples, Lennar and Pulte Homes. Ave Maria now includes more than 2,500 new homes, with a current estimated population of 10,000 people including university students. For more information, visit avemaria.com.
  • CITY BOARD APPROVES NEW PLAT FOR REDEVELOPMENT OF NAPLES BEACH HOTEL
    The plat for the redevelopment of the nearly 125-acre property of the historic Naples Beach Hotel & Golf Club was unanimously approved Wednesday by the Naples Planning Advisory Board. The issue advances to City Council for its Sept. 16 meeting. As previously approved but the city, the resort’s golf course will remain in operation but a proposed major overhaul of the beachfront strip will have new lodging and residential buildings, including a 220-room luxury hotel and 185 condominiums. As part of The Athens Group’s redevelopment of the property, the resort will be renamed the Naples Beach Club Hotel, Residences and Golf Course.
  • CLAM PASS BOARDWALK WILL CLOSE FOR TWO MONTHS FOR RENOVATIONS
    Clam Pass Park boardwalk at 465 Seagate Drive in North Naples will temporarily close for renovations for two months starting Monday, Aug. 17. Until the boardwalk reopens Oct. 17, Clam Pass beach will be accessible from the adjacent Seagate Drive entrance. Visitors also still will be able to launch kayaks and canoes from the Clam Pass parking lot.
  • COLLIER  RANKS SECOND IN STATE FOR LOW CLOSING COSTS AS PERCENTAGE OF HOME VALUE
    Collier County ranked No. 2 in SmartAsset’s list of “Places with the Lowest Closing Costs” in Florida. The study measures closing costs as a percentage of median home value at the county level. Collier County was listed with average closing costs of $7,999; the median home value of $340,100; 2.4% in closing costs as the percentage of home value; and closing costs index of 68.82. Additional information on the study, including the full methodology, results and interactive map can be found here.
  • LUXURY CONDO REDEVELOPMENT PROJECT BEGINS CONSTRUCTION NEXT MONTH IN NAPLES
    Parkview at Cambier, a new development of four luxury condominium residences in downtown Naples, is planned across from Cambier Park at the old Chapel Grill restaurant property, which also notably was the site of the city’s original First Baptist Church on the corner of Eighth Street South and Seventh Avenue South. With about 6,700 square feet of total living space per unit, each ultra-exclusive residence will feature more than 3,900 square feet under air, outdoor living space, a three-car garage, a personal elevator and a private rooftop area with full kitchens, bars, spas and firepits. A common area will include a heated pool, tiki bar, putting green and ping pong and pool tables. The state-of-the-art smart homes will feature coastal contemporary designs, custom cabinetry and millwork, retractable storm shutters and dedicated generators for each residence. Developer Frank Meak plans to start construction on the redevelopment project in September with a team that includes Gulf Coast Construction, MHK Architecture & Planning, Davidson Engineering, landscape architect Christian Andrea and Suzanne Costa Interiors. For more information, go to parkviewatcambier.com.
  • CITY OF NAPLES SEEKS TO END VARIANCES FOR COMMERCIAL BUILDING HEIGHT
    No exception to the 42-foot height limit will be allowed for buildings in commercial zoning districts in the city of Naples, according to a resolution approved 6-1 Wednesday by the city’s Planning Advisory Board during the first reading and public hearing for the ordinance. “I personally think it’s very misguided,” says local developer Phil McCabe, who asked for and received an architectural variance for an extra 7 feet above the 42 feet for recently completed three-story redevelopment projects on Fifth Avenue South. “To limit it to 42 feet is meaningless.” Previously, variances to zoning and building codes had been granted for architectural embellishments, stairwells, elevator shafts, air-conditioning units and other mechanical equipment atop three-story buildings. According to the “Vision 2020” analysis and recommendations made last fall by the Planning Advisory Board, a three-story height restriction is crucial to keeping intact the small-town charm of Naples. The second reading and public hearing for the ordinance will occur during the regular session of Naples City Council on Sept. 16.
Quote I leave you with:

““Be positive. Your mind is more powerful than you think. What is down in the well comes up in the bucket. Fill yourself with positive things.”

— Tony Dungy —

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