naples second home
 

Considering purchasing a second home in the area near the Ritz Carlton, Not neccessarily walking distance to beach, but within a few miles. Does anyone have any info on the real estate market in this area? Would this be a good investment? Also considering renting it out full time for the first few years. Again, is there a market for this ? Any help would be appreciated.

There is a definite market for this for renting...The area around the RITZ is prime- make sure if you are not on the beach , that at least you are on a golf course......

When we looked at condos down there 2years ago,we were looking to have a VIEW of the gulf=but not directly on the Gulf...we looked at Bonita Springs in a WCI development and the going rate was $550,000....That ended that quest for a condo with a view...

Hope you get a good realtor who really knows the area..Post a message for Patrick who is on this board...He lives in NAPLES and can help you immensely..

Thanks, andy, and here I am. In Naples it is all "location, location, location" when looking for a good investment. Depending upon whom you listen to, there is still a booming market or there is a glut and a current buyer's market.

Are you talking about a house or a condo? Andy is right that the best rentals are always on the water or on a golf course. Friends have their old "starter" house for rent in Naples Park (not very far from the Ritz - is that where you're talking about?) but they have a hard time renting it. It is in a mixed sort of neighborhood -- some older homes, some tear-down-and-build new ones.

And you need to check out rules very carefully regarding rentals. Some associations (condos and houses) have restrictions that only let you rent once a year or for a minimum of six months or three months or similar things.) Since you say renting it out full time -- you probably wouldn't have any trouble so long as it's a really desireable neighborhood. You also need to be aware though, that while really big bucks are made in reselling the most expensive places on the beach or prime locations, the average neighborhood or new gated community is a little trickier in terms of resell. There are always so many new developments going in that it seems most buyers want a new place -- not a four or five year old development. I know numerous people who are having a hard time getting their original investment out of some of the newer gated communities.

You really need a knowledgeable realtor to work with!! Don't try to do this on your own. There's no shortage of them here, if you want a really good suggestion, email the basic price range and where you're looking and I'll be happy to suggest someone if you don't have someone you're working with. Realtors specialize in specific areas and/or types of properties. Sorry, don't mean that to sound like an ad, but it really is good advice! [email protected]

RPB1023 I have a Condo next to the Ritz Carlton . The area you are talking about is Naples Park. Your best bet is go to the local news paper website and you can get all your,infomation .www.naplesdailynews.com for condos try www.bluebill.com . I have rented my Condo out . It helps but But thier are a lot of expenses if you rent it for a few months you may have to pay Hotel tax and you may need a managment company that will get a share of the rent . You will also Have Condo fees and restrictions. If you buy in a gated community or on a golf course you have membership fees and may Have club house spending amounts imposed for food and beverages per year . A lot of them Want to know your income level . Good luck its a great place for a second home but choose wisely . PS There are some not so desirable areas of Naples too ! I know there are some units still avalible in the Regatta ,Beach Walk & The Dunes .

Patrick is right, the Naples market has been too hot not to cool down, at least for a while. The softness in our market (Marco up to Fort Myers) is mainly in the mid-stratosphere level: 1 million to 4 million. Above and below are still selling and anything under 500k is pretty good. You need a good agemt that specializes in your price range.

Flipping isn't working right now. Way too many homes have been financed by investors to be sold at the C of O. Lower priced condos in gated communities bought early pre-construction are still a pretty good deal. The developer usually tries to make sure early buyer's units are rented regularly to impress later buyers.

Bonita Bay is a great developer but there is not much in Collier County. All the new action there is what I call "Swamp-side", the inland side of I-75.

FWIW, all the big Collier & Lee Co. developers are buying land in northern Lee County (Fort Myers, Cape Coral). Golf and boating, not beach, are the attractions there however. LilMsFoodie

This is a realy good website to get you started http://www.naplesarea.com

Anyone familiar with "Falling Waters" ? Apparently a gated community developing new condos. How is area etc.?

I thought Falling Waters was an older community, south of Naples proper. I'm just topping this to get Patrick's attention since this is more his patch than mine. LMF

I am reading this with interest since my parents now live in Naples. We've visited so many times and have fallen in love with the place! Last Christmas we looked at condos, and I have to agree with everyone that you are much better off with a real estate agent. Otherwise you'd be like a lamb to the slaughter! The real estate firm Mari Vesci (vesci.com) is located near the Ritz and if that's the area you want, they're knowledgeable, although they also cover the rest of Naples. Premier Realty is another consideration; they're down the street from Vesci. Find an agent whose personality meshes with yours and you'll be on the right track. Patrick, has the weather gotten better sincelast week?

Falling Waters is North of the Ritz- N. on 41 about 4-5 miles. I haven't been in it but it looks nice. The only drawback I can think of is it is approx. 30 min to downtown/5th ave. area.

I know you asked Parrick but I will answer your on the weather. It is still chilly - 60's and in the 40's-50's at night all week is the forecast. Tomorrow may be warmer but it is COLD here at night - we have the heat on!

thanks, travlingirl! I can't get through to my parents because Mother's tying up the phoneline with Ebay. I hope the cold front moves on and you all have a fabulous Christmas down there in Naples!

The Falling Waters north of town is a newer development than the earlier Falling Waters out east of Naples, but apparently similar in design. I'm not that familiar with it. I was in the older one once. The lack of appeal to me was the common trait of being in the midst of hundreds of perfectly matched condos (low rise type) jammed together-- the type place I'd hate to come home drunk to as I'd never find my unit. But I'm not qualified to give a good opinion as to the potential of investment there.

About the weather; I don't know where travelin girl is but the official temperature in Naples at noon today was 70. It is now 72, but fairly cloudy and seemingly cooler than the temperature would suggest. Christmas is supposed to be 75 to 78, but we may have some showers between now and then.

I am considering a rental at Barefoot Pelican condo. Does anyone know this property? I am interested in knowing about the location and maintenance of building. I understand it is near Ritz Carlton.

The Barefoot Pelican is a nice condo complex everythig is maintained properly .It has a great location its directly across from the Ritz. veiws of the inter-costal and a few feet from the gulf and beach access.

Thanks, Italiano, for your response. How far away from shopping, specifically, groceries? Forgot to ask that in previous message.

There is a little convience store just a few feet away that has a litte of everything called the Beach Store . About 1 3/4 mile up the road is 2 shopping strip malls , With a publix in one and a Albertsons in the other. Its not that bad of a walk . There are nice sidewalks and bike paths . Also a New Bus service that will take you where ever you want to go in Naples . Also ther are 5 good restaurant's within Walking Distance to your Condo .Try Buzzes Lighthouse For a great lunch or Dinner nothing fancy just a place to kick back and enjoy.I have had my condo in the Vanderbilt Palms ,right next to yours for the past 18 years so I Know the area very well.Let me know if you need any more help ! For great clothes shopping go to the Stein mart store in the Albertsons strip mall they always have a sale .

Naples is really growing. my parents have owned a small vacation home in north naples for 15 years. The area has grown tremendously. They recently sold and bought in village walk / vanderbilt beach rd built by Divosta. Divosta is now building in Bonita Springs. Bonita is expected to be the next naples and will be a good place to invest in real estate. Although naples has the zip code, given Bonita's location to the beach, Ft. Myer's, airport and downtown naples, you can't go wrong. i am also thinking of investing in pre construction in that area.

We bought a condo as a 2nd home in June. It is at the intersection of Vanderbilt and Airport-Pulling, a straight shoot to Vanderbilt beach in about 8 minutes in normal traffic. We are right next to the Ritz-Carlton Golf resort and are extremely happy with our location in North Naples. Our 2/2 condo is wonderful, albeit a lower priced unit. We have a 3 month minimum rental policy and I was told that the average rental is $3000 per month. Ours IS a typical low-rise condo, but it IS wonderful and I have never been too drunk to find my way home. It caters to may full-time residents and snowbirds, and has tennis, pools, and is gated. I thankfully did NOT listen to the advice I received here, which was extremely negative about this community. There are some of us out here who cannot afford the really close to the beach or huge condos, and I have to tell you that we are THRILLED with our purchase!
If you would like the name of my agent(she has sold 3 units in our complex in the last 3 months), e-mail me at [email protected] and I will be glad to give your more specifics. Good luck and as far as I'm concerned, DEFINETLY choose Naples. I know the Bonita area is up and coming, but OH what a difference between the 2- especially in the landscaping!