BONITA SPRINGS, FL--(Marketwire - January 28, 2009) - It's a compelling combination: Home
prices below the 20-year historical median price, master-planned community
home values maintained at a higher rate, a diminishing inventory of homes
available for purchase and a location that continues to lure residents from
around the world.
That's the story from the Naples/Bonita Springs/Fort Myers area, where home
sales soared 58 percent in 2008 over 2007 at master-planned communities
developed by Bonita Bay Group,
the region's longtime market leader.
"In the 25-plus years we've been developing master-planned communities in
Southwest Florida, we've seen several market cycles," said Kitty Green,
president and CEO of Bonita Bay Group. "Fortunately, communities like ours
tend to hold their value better than scattered-lot homes. Buyers see the
value in the amenities we offer -- golf, fitness centers, trails, nature
preserves, marinas -- so their purchasing decision becomes easier to make.
"These days, strong deed restrictions and the governing systems to enforce
them are top-of-mind, as well," Green said. "You know that your neighbor's
yard won't have grass that's a foot tall."
Research shows that the developer's credibility and its communities' mature
amenities are the primary reasons fueling the uptick in home sales,
according to G. Russell Weyer, senior associate at Fishkind & Associates,
an economic consulting firm. "Bonita Bay Group is one of the strongest and
most trusted in this market," Weyer said. "Additionally, the median home
price in master-planned communities has retained its value better than
other communities, which adds to the long-term investment."
Weyer added that current prices are below the 20-year historical median,
and there is a diminishing inventory due to increased sales; homebuyers who
understand the real estate market are recognizing that staying on the
sidelines may no longer be the best strategy. "The timing is right to take
advantage of the purchasing opportunities in master-planned communities,"
he said.
Further research on 2008 sales underscores the buy-now urgency: 25 percent
of Bonita Bay Group buyers made their purchasing decisions within only 30
days of their first visit. "There are great deals available and our buyers
don't want to lose out," said Green.
Bonita Bay Group's communities include Mediterra and TwinEagles in Naples, The High-Rises at Bonita Bay
in Bonita Springs, Verandah in Fort
Myers and Sandoval in Cape Coral. Visit www.bonitabaygroup.com.
