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Bob Pisa -Prestige Properties Naples, FL

Ritz-Carlton Golf Resort is #1 in Florida!

The Ritz-Carlton Golf Resort is ranked #1 in Florida by Golf Digest magazine's seventh annual survey. This is in addition to being on the top 75 golf resorts list since it opened in 2002. This year, the Ritz-Carlton ranks No. 32 out of the top 75 in North America.

The Golf Resort boasts two 18-hole signature courses at Tiburon designed by Greg Norman who is the host for the PGA Shark Shootout in Naples each year.

Tiburon lends its name to the Golf Club as well as the residences on the masterfully designed property. Residences range from mid-rise condominiums, villas, coach homes, and single-family homes.

Review the residences at Tiburon here.

www.BobPisa.com

Naples Area Board of Realtors reports market data - August 2009

SALES UP 87 PERCENT
Report Shows Inventory Declines 13 Percent

The headline is from a very recent (September 11, 2009) press release from the Naples Area Board of Realtors - NABOR.

"...Overall pending sales, which are a key indicator of buyer activity, increased 87 percent with 872 contracts in August 2009 compared to 461 contracts in 2008..."

Additional specifics from the press are:

  • Overall closed sales increased 38% with 545 closed sales in August 2009 versus 395 in 2008
  • Single-family homes pending sales contracts for properties under $300,000 increased 106 percent to 344 contract in August of 2009
  • The available inventory decreased 13 percent to 9,163 compared to August of 2008
  • The average days on market (DOM) decreased to 160 which is a 21 percent reduction from its peak in May of 2008 of 202 days
  • Condo pending sales increase 89 percent with 370 contract in August of 2009

You may read more market information here --> Bonita-Estero, Naples

www.BobPisa.com

Cines Unidos Opens Silverspot Cinema at the Mercato Center Naples, FL

Finally open is the 11-screen theater that boasts a 65-seat restaurant and lounge with marble floors and leather chairs to make it "...not your father's movie theater..." It's been described that each chair is "like a La-Z Boy Sofa."

The Naples International Film Festival is scheduled to be held there November 5-8.

This is the first U.S. venture for Venezuela-based Cine Unidos. The theater has a total of 11,000 seats grouped in clusters of two and each seat is numbered. The numbered seat is assigned when you purchase your ticket on-line or through one of the touch screen terminals. There are no traditional box offices to purchase tickets from.

Sounds great, I can't wait to go!

www.BobPisa.com

Shadow Wood Country Club buyout deal takes a turn...

Previously it was announced that the members of Shadow Wood Country Clubb (SWCC) reached and agreement with Bonita Bay Groud (BBG) to purchase both the Golf Club at Shadow Wood and The Commons Club amenity center. This was confirmed in a press release by BBG on September 1st.

In a blog post written to the members yesterday - 9/9/09 - it was reported that the deal is dead.

Why? The paramount issue in this deal, as well as golf club buyouts all over, is the huge liability on the books for member deposits. The chief restructuring officer for BBG, in a recent meeting, stated that BBG is adding a requirement that limits BBG's liability to $250,000. The current deposit liability for both clubs is on the order of $4 million.

A couple of strategies were talked about that could enable the new club to take on the liability including selling off some golf course property for additional single-family homes and changing the refund policy to 3 for 1.

BBG represented that there were at least 2 buyers offering to pay more cash and assume the liabilities from BBG for member deposits.

All I can say at this point is...stay tuned. This is not a matter of if a sale takes place but rather when and how much.

Razzleberry Pancakes!

What's a razzleberry? That's exactly what I asked the waitress at the Trail Cafe in North Naples on Tamiami Trail. Well, "razzleberry" is a mixture of whatever berries are in season. Today, trying to make somewhat of a day off from work, my wife and I ventured out for breakfast. Berries of the day were very tart blackberries, blueberries, and raspberries. The razzleberries are baked into the pancakes with an extra dollop on top. Sprinkled with a very light dusting of powdered sugar...mmmm.

The swimming pool is at 84 degress and climbing...I think there will be a few extra laps this afternoon.

The Trail Cafe open for breakfast and lunch. It is located conveniently to everyone in North Naples and Bonita Springs. It's on U.S. 41, just south of Wiggins Pass.

Enjoy when you're in the area.