July 23, 2014
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Realty Check: What Your Money Will Buy

... for $3.95 million, $3.63 million and $1 million.

 

$3.95 million

An eighth-floor perch above the Park Shore area of Naples provides precisely the luxurious views you’d expect in a property on Gulf Shore Boulevard, where this unit sold for $3.95 million in January.

The unit, built in 2006, includes 4,773 square feet, four bedrooms and four and a half bathrooms. Fine detail and pearlescent finishes are evident throughout, alongside majestic views of the Gulf of Mexico, Venetian Bay and the city lights of Naples. The décor is tropically inspired, but sophisticated and comfortable, thanks to elements such as faux finishes, wallpapers, wall tile, stone and mirrors.

All main living areas—including the living room, dining room and kitchen—have sunset views, and a see-through gas fireplace creates a warm ambiance.

Two garage parking spaces come with the property as well, as do the amenities at Aria at Park Shore, which include a billiards room, club room, private board or dining room, catering kitchen, fitness room, and men’s and women’s spa area with massage room, along with a beachfront pool and spa.

According to the Naples Area Board of Realtors, the property, 4501 Gulfshore Blvd., Apt. 802, previously sold for $3.3 million in September 2006.

 

$3.63 million

If you’re wondering about the going rate for 6,504 square feet and five bedrooms in the estate area of Marco Island these days, wonder no more. A property fitting that bill at 1461 Caxambas Court sold for $3.63 million in December.

In addition to its desirable neighborhood location, the direct-access, Gulf-front mansion sits on more than half an acre and provides stunning views. It features five bedrooms—one of which is a mother-in-law suite—plus a den and five and a half bathrooms.

Constructed in 1988, the house has southern exposure, a new boat dock with two lifts and a lowerlevel basement with a recreational room equipped with a wine cellar, billiards table, kitchenette and storage. A three-car garage is among the exterior features, along with open and covered lanais with a pool and spa that overlook Caxambas Pass, the Gulf of Mexico, other area islands and the south end of Marco.

According to the Naples Area Board of Realtors, the property previously sold for $2.6 million in July 2000.

 

$1 million

Just in case the private elevator ride up 25 full stories wasn’t enough to steal your breath, chances are the views upon arriving at unit No. 2501 at 4951 Bonita Bay Blvd. in Bonita Springs would be. The combination was ample enough to help the three-bedroom, three-bathroom unit sell for an even $1 million in December.

The designer-finished and elegantly furnished residence features 11-foot ceilings, and its wood shutters move back to reveal westerly views over nearby Estero Bay and the Gulf of Mexico. Also of note is the balcony off the kitchen, with a built-in outdoor grill.

“Travertine marble floor/baseboard in the main areas and bamboo wood floors/baseboards in the bedrooms provide an interesting finish detail,” says Chris Beaudoin of Premier Sotheby’s International Realty, the company that listed the property. “More custom build-ins include closets and an entertainment wall unit that was designed in Italy.”

The residence previously sold, according to the Naples Area Board of Realtors, for $1.466 million in November 2007.

 

NEIGHBORHOOD WATCH

The Quarry

The quarry is a projected 1,000-home residential community located off Immokalee Road in Naples, east of I-75. It consists of condominiums and single-family homes centered around two large lakes—covering 230 and 90 acres, respectively—and includes a white-sand lakeshore beach with a beach club housing a bar and grill restaurant with indoor/outdoor seating.

An 18-hole championship golf course was designed by Hurdzan-Fry and wraps around the lakes. Other amenities include a lap pool, lagoon-style pool and spa, sun decks, a fitness center with men’s and women’s locker rooms, retail shops and spa services.

Total number of properties: 325

Price range: $227,990 to $739,990

On the market: A two-bedroom, two-bathroom, single-family carriage home with 1,654 square feet of living space includes lake and golf course views. It comes with Whirlpool stainless-steel kitchen appliances, maple kitchen cabinets, a den/third bedroom with a closet and a garden tub in the master bathroom. It’s available for $288,905.

Recent sale: A 2,547-square-foot home, above left, with three bedrooms, three bathrooms and a den was built in 2012 and included a golf membership and panoramic views of the community. It sold for $645,000 in December.

—Lyle Fitzsimmons

 

MARKET TALK

Now You Can Project Commuting Time

Washington-based Inrix made a big splash on the heels of the recent 2014 Real Estate Connect Conference when it announced a partnership with RE/MAX that would result in placement of its new search tool—INRIX Drive Time—on remax.com.

The collaboration was the first in which a national real estate brand committed to prominently displaying the tool, which allows prospective homebuyers to identify and compare homes for sale based on forecasted commuting times to and from selected sites, rather than simply distances.

It will be made available nationwide in the first quarter of 2014, beginning with New Jersey.

The pairing has generated positive exposure for the new technology, but local agent Lori Fowler isn’t so sure what plays in Piscataway is a natural in Naples, thanks to some of the mitigating factors that are unique to Southwest Florida. “At first glance, this appears to be a great resource,” she says. “However, in our community, I am not sure how relevant the data is, as our traffic patterns certainly vary by season versus off-season, time of day, parts of town, etc.”

National Association of Realtors figures indicate 73 percent of homebuyers consider drive time to work a key purchase criterion. Additionally, the U.S. Census Bureau’s 2013 American Community Survey claims 88 percent of American commuters travel to work by car. More than 600,000 of those commuters face commutes of at least 50 miles from home, taking at least 90 minutes each way.

To determine drive times with the new tool, potential homebuyers enter the addresses of the locations most important to them as part of their search criteria. The tool automatically shows neighborhoods and properties that meet their desired travel time.

“Information like that can be useful in terms of someone relocating to determine their average commute time to a new job,” Fowler says. “Additionally, I could see where this could be helpful in determining the actual amount of time necessary to get from your home to the outside of a gated community. For some, that can be a surprise to learn that at 25 mph it can take 10 minutes just to drive out of a large community like Palm River in the morning rush of school buses. There are some communities that, between undulations, speeds and certain peak travel times, it can really add to a commute.”

—Lyle Fitzsimmons

 

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