Naples Club Estates Update
Before:
An up-scale community developed on a 155-acre parcel of land fronting on Collier Boulevard (SR 951 just south of Davis Boulevard). There are 28 single-family home sites and the property is completely developed with roads, water, sewer, sidewalks and security guard house. The high end community features huge lots, preserve areas and lakes. A cart path leads to the neighboring Naples National Golf Course, a very private and exclusive Golf club. This is the only development in Naples with 150' x 200' foot lots and nature preserve buffers of 100' between the properties. Homes offer peaceful private settings with lake views. Minimum size for homes 4,000 Sq. Ft., prices started in 2006 at approximately $4,500,000, vacant lot pricing from $500,000 to $900,000.
After:
But what happened then? After the real estate market peaked in 2007 prices almost instantly went into a free fall. At that time the development opened but sales of luxury homes came to a halt. Without any sales the development struggled another year before almost all marketing ended. This is certainly a very sad result for the developer of this beautiful secluded luxury neighborhood but it is also a very rare opportunity for buyers. The homes are now being OFFERED AS SHORT SALES, bank approval is required. Two of the 4 homes went just under contract in October 2009. The two remaining homes are priced at $1,450,000 and $1,590,000 respectively. You cannot duplicate these homes for these prices and we know what we are saying - Walter builds custom homes.
There is still this very serine and natural neighborhood. Eight luxury homes have been built in the meantime, vacant lots are still available. The homes offer everything that money could buy at that time. Start with over 9,000 sq.ft. of circular drive, porta cochere, 3 - 5 car garages, huge outside areas with summer kitchen, covered lanais with fireplaces, pool scapes with natural stone, spas, sun bed ledges and disappearing exterior sliding glass doors.
Huge kitchen with Stainless Steel Viking Professional Series appliances including a 48" gas range. Beautiful cabinets in the custom home on lot 10 cost the builder over $115,000. Murals on the wall in the wet bar, faux finishes in the main areas and distressed faux walls in the powder room - a work of art that you have to see to appreciate.
Click the link to view property information.