SW Florida Real Estate News is this -

SW Florida Real Estate Is Smokin’ Hot and it’s been just about all I can do to keep ahead of it.

The prices haven’t really come up much, but the volume increase has been HUGE.

Cash buyers from all over the world are here buying just about everything in site.

Hello all …..

It’s been a long time since you’ve heard from me – I know.

Sorry about that – but I’ve been busier than a 1 armed paper hanger !!

The SW Florida Real Estate market has been smokin’ hot and it’s been just about all I can do to keep ahead of it.

The prices haven’t really come up much, but the volume increase has been HUGE.

Cash buyers from all over the world are here in SW Florida and are buying just about everything in site.

Many have had their eyes on foreclosures, bank owned properties and handy-man properties creating chaos in that market. Multiple offers have driven those properties to a point where it makes no sense for a real estate investor to buy and make a profit. The foreclosure market has gone retail.

It’s all good though, because the increase in volume in the housing sales has begun to bring builders and investors back into the vacant lot business (where I specialize)

Lot sales in general have been brisk. High priced lots have not seen much of an increase because there has been so many low priced lots available – HOWEVER that has been changing at an almost astonishing rate.

Those days are long gone and the bottom of the market is:

• $5,000 and above for South Gulf Cove
• $5,000 and above for Rotonda Sands
• $4,000 and above for Northport.

The stats don’t show this because there are many people still attempting to sell their lots for $10,000 to $20,000. So what happens is those “NOT” in the business have no clue as to what is really going on.

 (I’m going to share some of the stats with you a little later keep reading because you don’t want to miss it)

But the facts are the facts. The bottom of the market has moved up 60% to 100% over the past 6 months. It has been a great time to buy at the bottom and many of my investors have been doing just that. (Now you know why I have been so busy)

Just so you know, other areas in Charlotte County have been increasing too. I focus primarily on deed restricted subdivision with water and sewer because they tend to have a much higher appreciation rate. The old misnomer of building a house and having a neighbor drag in a trailer still resonates with many. Therefore, people like the safety knowing chances of that ever happening in a deed restricted community are zero. City Water and Sewer are also big plusses.

In Northport, 95% of the lots are well and septic but the place is BOOMING. The city council made the decision to make North Port a business friendly town, and the results are incredible.

• The main drag of North Port on RT 41 is building shopping centers, restaurants, banks, commercial centers and more like crazy.
• Major employers are looking at the area and are negotiating with the city for tax incentives and the like.
• All good signs for North Port and it shows.

In fact, my team and I are opening an office in North Port. Right on the main drag, right alongside the Olde’ World Restaurant.

I am signing the lease today and will have the doors open by April 15, 2012.

Next time you’re in town, stop by and say hello!

Long story short: SW Florida real estate is smokin’ hot in volume with inventories of available properties shrinking fast. We are back in the upward phase of the business cycle. As long as America doesn’t have some sort of catastrophe, I see no reason for the upward trend to do go in any other direction than up.

When it comes to vacant land, It is still a bargain. An Old Rule of Thumb Which Has Worked for many years (and those who stick by it today are still in business) the land cost for a home sold should not exceed 10% of the total price of the home.

For example: a $150,000 house, the lot price should not exceed $15,000.

That being the case, I want to break the numbers down for you so you can see for yourself how much of a bargain lot prices are right now.

Median Home Prices in:

• South Gulf Cove: $187,500 the land costs should not exceed $18,700.
• Rotonda Sands: $173,400 so the land costs should not exceed $17,340
• North Port: $109,000 so the land cost should not exceed $10,900.

Now I need to remind you the sales data is a little screwy because of the distress and bank foreclosure sales  – The real numbers, were people are building look like this:

• $225,000 range for South Gulf Cove
• $225,000 range for Rotonda Sands
• $189,000 rang for North Port

So …… as you can see, based on an Old – Proven Rule Of Thumb, lot prices in the areas I am talking about have a lot of room to move upward.

NOW for the strategy: I’m looking for a few people to join me in buying up the bottom of the market in South Gulf Cove, Rotonda Sands, and certain areas in North Port.

The strategy is brain-dead simple.

We go in and buy up the bottom of the market, and immediately list the properties just below the medium price in the market. The net effect will be this. By removing the bottom of the market, we force the prices up – period. We create and control a new bottom.

If you would like to learn more about the strategy and get involved, either by investing in a few lots yourself, or joining forces with me and participating in a large scale, give me a call or drop me an email.

I have it all broken down in writing – the amount of lots available, the price points, the exit strategy, the projected holding time, etc.

As you can imagine, I put a lot of work into compiling this information and I am not willing to share it with just anyone – if you’re serious, contact me – there are a few qualifying questions you will need to answer and you will need to prove funds availability before I pull back the curtain and reveal any more info)

Here is a brief overview of the areas I’m talking about:

 

South Gulf Cove, there have been 191 lots sold over the past 6 months at a median price of $8,100.

As of right now, there are 94 lots available for sale on MLS at LESS than $8,100.

If we take the CONSERVATIVE approach and only buy at 10% discount off the median price, there are 75 lots to be had at prices less than $7,300 each.

Median homes sold price is $187, 169 so intrinsic value of each lots is $18,700.

Rotonda Sands: there have been 53 lots sold over the past 6 months at a median price of 6,000.

As of right now, there are only 20 available for sale on MLS at LESS than $6,000.

If we take the CONSERVATIVE approach and only buy at 10% discount off the median price, there are only 8 lots to be had at prices less than $5,400 each.

The home sold in price is $173,400 so intrinsic value of ach lot is $17,340.

North Port: there have been 70 lots sold over the past 6 months at a median price of 4,500.

As of right now, there are only 116 available for sale on MLS at LESS than $4,500.

If we take the CONSERVATIVE approach and only buy at 10% discount off the median price, there are only 77 lots to be had at prices less than $4,000 each.

The home sold in price is $109,000 so intrinsic value of each lot is $10,900.

 

There you have it – thats all I’m about to reveal – if you want to learn any more, like I said earlier …. contact me one way or another.

This opportunity is not for everyone, and once I have 5 or 6 ready-willing-&-able participants, I won’t be – sharing any more information until the next round.

email me direct for moe info: Paul@TheLotGuy.com

Warren Buffett appeared live on CNBC’s Squawk Box recently.

During the interview, he was asked about the current real estate market and whether he felt now was the time to buy.

Florida Real Estate Is The Place To Be!

His response was rather emphatic and has been used as a headline in hundreds of articles since the interview:

“If I had a way of buying a couple hundred thousand single-family homes I would load up on them.”

Florida Real Estate and Home Prices Have Been Increasing -

However, throughout the interview, he addressed the market from a few angles. Here is what he said:

Why invest in real estate now?

“It’s a way, in effect, to short the dollar because you can take a 30-year mortgage and if it turns out your interest rate’s too high, next week you refinance lower. And if it turns out it’s too low, the other guy’s stuck with it for 30 years. So it’s a very attractive asset class now.” 

Is buying your own home better than investing in stocks right now?

“If I knew where I was going to want to live the next five or 10 years I would buy a home and I’d finance it with a 30-year mortgage… It’s a terrific deal.”

 

 Should we buy multiple houses?

“If I was an investor that was a handy type and I could buy a couple of them at distressed prices and find renters, I think it’s a leveraged way of owning a very cheap asset now and I think that’s probably as an attractive an investment as you can make now.”

Over the last couple of months, there have been more and more financial analysts coming to the same conclusion: It’s time to buy real estate.

Florida Real Estate Market is on the Upswing -

REGARDLESS of what the National News Media has to say.

The media sometimes obsesses over the negatives, but last year brought several important improvements in key metrics that need to be revealed and considered.

Florida Real Estate Market Trend

Foreclosures may dominate the news stories, and probably will for the next few years.

To get the market back where it should be, buyers need reliable access to mortgage loans. Until that happens, the market will never really get back to where it should be. I’m not talking about a return to stupid lending practices either. I’m talking about common sense underwriting – the type of mortgage lending that worked successfully for years. Common sense lending practices – where buyers need 10% to 20% down and can PROVE their ability to pay back the loan.

Unfortunately, the same ones who messed up the mortgage market are now trying to fix their messes and are making it worse. Hopefully the next election will purge the swamp of the scum responsible for the mess in the first place.

HOWEVER – As we enter into a new year, we’re seeing a lot of very positive signs for the South West Florida Real Estate Market.

Let’s examine some of them.

• New Listings were up 8.2 percent for detached homes. Pending Sales increased 23.1 percent for single-family homes.
• The Median Sales Price was up 36.4 percent to $136,400 for detached homes.
• Months Supply of Inventory decreased 29.2 percent for single-family homes.

The Baby Boomer generation is moving to warmer climates. While growing up they made major changes to the US economy. Be it with muscle cars of the 60’s and 70’s, development of the suburbs, clothing styles and more. Nothing will stop the Baby Boomer movement and they are seeking warmer climate living conditions.

Most of the money coming into the Real Estate market in SW Florida is in the form of cash. Roughly 75% of all real estate transactions in SW Florida are in cash.

If the mortgage market comes back to common-sense lending practices, the Florida real estate market will explode.

Now if the same group of clueless pond-scum who created the banking problem and the recession would get out of the way and STOP trying to create jobs, independent business could get this economy going again and create the millions of jobs needed get this economy going again.

Getting back to the local South West Florida Real Estate Market, attached is a 14page report for you to download and review.

It’s packed with useful information.
>>> GET THE REPORT HERE <<<

Placida Florida – A BIG Real Estate Opportunity is Right Under Your Feet - 

Over the past few weeks I have been sharing with you a bit of informative, timely, and important information regarding the Florida real estate market in general, and more specific information when it comes to our local area.

If you recall, my sources come from various sources and databases. Do I have opinion’s? Absolutely – but the information I have been sharing with you is vetted information – gathered from various sources, and my opinions are disclosed.

Now I know a lot of “Dooms-Day” media hype still saying the real estate market is in for another crash, prices will continue to fall for years to come, and the world as we know it has come to an end.

I Say BLANDER-DASH!

THREE Questions you must ask yourself when listening to the media are:

1. Who Will Benefit Most from the media BS.
2. Where Is The Big Money Moving and why
3. Who Is Paying For The Ads

Once you have the answer to the questions, or at least a very good idea of the answers, you will begin to see things a little differently.

Getting back to the subject at hand, I have been hearing on the TV about how the real estate market will fall more. About how there are millions more bank owned homes coming on the market – how millions more foreclosures are about to happen, etc.

Well if that is true, please answer the following THREE questions:

1. Why are the BIG BUILDERS beginning to come alive again and are quietly gobbling up huge amounts of vacant land?
2. Why are the big builders buying back their own stock?
3. Why are insiders exercising options and buying amounts of their own stock?

You see, while no one is looking, the big money and “corporate-insiders” are backing up the truck and loading up on their company stock and vacant land.

While the media has nothing buy “Gloom and Doom” the insiders are loading up.

Let Me Share With You a Few “Brain-Dead-Simple” Observations Indicating The Housing Market has Bottomed Out And is Getting Ready To Head in The Other Direction:

Dead Money Comes Alive

In September, executives at homebuilder, Pulte Homes (NYSE: PHM), began buying their own company’s stock. Most of the purchases were at around $4.40 per share.

Today, Pulte is trading near its 52-week high of $8.69. Not a bad haul in a sector that most believe is dead money. STOCK PRICES UP OVER 100%!

Now let me ask you a question ….. if  all the gloomy talk of a huge inventory glut… all those foreclosed properties that have yet to hit the market… new home sales still at record lows… unemployment decreasing, bla – bla – bla, then why is Pulte Homes Stock increasing?

Let’s look at a few more:

• Pulte insiders buying – and making gains from – their own supposedly ailing sector. The Stock is up over 100%.
• KB Homes, one of the largest homebuilders in the Nation is up 10% in the past three months
• Toll Brothers posted a 34% gain in the past 3 months
• D.R. Horton up 32% up in 3 months
• In areas that are the hardest hit, prices are beginning to firm.
• Rents across the country are rising.
• In Florida, median home prices are expected to increase in 2012.

Home Builder Stock Performance for The Past Year

If you think about it, these statistics make sense.

After years of double-digit plunges, it’s expected for median prices to move up. And more people – the folks that can’t afford to or aren’t qualified to buy – have entered the rental market, causing demand to increase.

Increasing stock prices of National home builders, Increase in Quiet Land Purchases (known as land banking) and increasing rents across the nation. All leading indicators of a market turning point.

Now lets take a look at the Florida Real Estate Market.

The Sunshine State Spares a Few Rays for Real Estate

The Florida market turned in June of 2005. Real Estate transactions “hit the skids” and the market literally stopped. How do I know it was then? Because my real estate office logged every single inbound phone call and categorized them. I never knew the market ha stopped until January of 2006. We had a 6 month backlog of deals in the pipeline closing up we noticed the inbound phone calls for new transactions had stopped until it was too late. The Thanksgiving and Christmas holidays we say a welcome slowdown and thought nothing of it. Then, all of a sudden, the office became a ghost-town. No calls, no walk ins, almost website traffic, etc. It was horrible. While the rest of the country was still doing well, the Florida real estate market had fallen off the cliff! Florida has been one of the hardest-hit real estate markets in the United States.

Almost across the board, home prices in Florida fell from their height by between 30% and 50%. And in some locations, prices have fallen by even more.

A financial tragedy for sure.

I’ve been personally engaged with the Florida market for years now, witnessing firsthand – and been directly affected by – the horrible crash.

Now, I am seeing and witnessing something entirely different.

In places like Miami, huge inflows of cash are coming in from South America and upscale condos are being built. Prices have stabilized and have begun increasing.

In places in SW Florida, Charlotte County, Englewood, Port Charlotte, Venice and Northport have reached a point where one of three things is happening:

• There is a bidding war on good real estate prospects.
• Homes are actually appearing with “sale pending” signs within hours of being listed (indicating inside trades between realtors and their friends or investors).
• There are higher asking prices.

All are signs that housing is beginning to attract attention again.

I do not believe home prices are going to soar in 2012. And they probably won’t reach the levels we saw in 2006 for a few more years, but prices are increasing, builders are beginning to build, and

But that doesn’t mean there isn’t potential for appreciation and rental income.

The Perfect Storm for a Real Estate Rebound

Add to that the availability of cheap money, the lack of alternative investments for those who are sitting on cash, and you have a perfect storm for gains – and in what the majority believes is the most depressed and hated of all markets.

If you have your back turned because of popular sentiment, in the end there’s nothing to say but, “You snooze, you lose!”

Bottom line: When investors blast markets the most, that’s when you should start paying attention to them. After hitting bottom so hard, the next obvious direction is usually up. And the housing market is no exception.

So look carefully, “think opportunity” and you’ll catch those opportunities that most investors miss.

The Florida Real Estate Market is HOT -

I am not going to go into a bunch of hoopla about the Florida Real Estate Market today, nor am I going to bloviate about the Florida Real Estate Market either – INSTEAD, I copied the headlines and links to articles I received TODAY – THIS MORNNG in my email.

Read about the Florida Real Estate Market yourself.

Global Technologies To Add Nearly 250 Construction-Related Jobs In Florida In 2012 http://www.marketwatch.com/story/global-technologies-to-add-nearly-250-construction-related-jobs-in-florida-in-2012-2012-02-16

 Business hiring in South Florida on the rise http://www.sun-sentinel.com/business/fl-south-florida-jobs-increase-20120214,0,7127451.story

New U.S. Housing Construction Exceeds Forecast in January http://www.businessweek.com/news/2012-02-16/new-u-s-housing-construction-exceeds-forecast-in-january.html

The Cape is Back ….. Hard hit areas such as Cape Coral are seeing a residential building resurgence. http://www.review.net/section/detail/the-cape-is-back/

Housing Starts in U.S. Rise Above Forecasts http://www.bloomberg.com/news/2012-02-16/housing-starts-in-u-s-rise-more-than-estimated-on-warmer-january-weather.html

Home remodelers betting on a rebound http://www.therepublic.com/view/story/REAL-REMODEL_7283051/REAL-REMODEL_7283051/

Florida construction gaining momentum http://marksblythe.com/florida-construction-gaining-momentum/

Home builders sound cautious, but hopeful http://www.winknews.com/Local-Florida/2012-02-16/Home-Builders-Sound-a-Cautious-but-Hopeful-Note

Homebuilder Confidence Returns To Pre-Recession Levels http://www.mortgagechiliblog.com/homebuilder-confidence-february-2012/

Long Story Short ….. The Florida Real Estate Market is HOT.

If you own property in Florida, Good for you – your investment is going up. (maybe you should consider picking up some more)

If you are thinking of investing in Florida Real Estate, DO IT NOW before all the good deals are gone.

Looking for a lot?

Visit http://www.CharlotteCountyLots.com  and grab one now.

Florida Real Estate has 7 out of Top 10 Housing Markets!

National Association of Home Builders Sees Improvements in 100 Housing Markets

WASHINGTON – Feb. 6, 2012 – The list of housing markets showing measurable improvement expanded by 29 metros in February for a total of 98 entries on the National Association of Home Builders/First American Improving Markets Index (IMI).

What was Six is now Seven!

Cape Coral, Deltona, Jacksonville, North Port, Punta Gorda and Tampa were the original Six metro areas in the country showing improving results. Miami has just been added to the list so Florida Real Estate has SEVEN of the top spots on a list of improving real estate markets nationwide.

Thirty-six states have at least one metro area that’s improving.

Cape Haze, Placida, Rotonda and Englewood are “smack-dab” in the middle of Northport and Punta Gorda. The Cape Haze real estate market is moving into high-gear. The Cape Haze Real Estate Market is getting better and better by the day!

The index lists metropolitan areas that have shown improvement in housing permits, employment and house prices for at least six consecutive months. The February index adds some metropolitan areas that have been particularly weak.

The IMI measures improvement from an economic trough, and NAHB says new notable entrants with six months of an upswing include

• Miami
• Boston
• Detroit
• Kansas City
• Mo.
• Portland
• Ore.
• Memphis
• Tenn.
• Salt Lake City.

“The number of improving housing markets has risen for six consecutive months,” says NAHB Chairman Bob Nielsen. “Despite the many challenges that continue to drag on a housing recovery – including the tight lending environment for builders and buyers – improving conditions are slowly but surely spreading from one housing market to the next.”
“While many of the markets on the February IMI are far from fully recovered, the index points out where employment, home prices and housing production are no longer retreating and have held above their lowest recession troughs for six months or more,” said NAHB Chief Economist David Crowe. “This is a sign that a large cross section of the country is starting to turn the corner as local economic conditions stabilize.”

This is really good news for Florida because as the rest of the country improves, people will be selling their homes in the chilly states and continue moving to Sunny Florida!

 

The IMI measures three sets of independent monthly data to get a mark on the top improving Metropolitan Statistical Areas (MSA). The three indicators are employment growth from the Bureau of Labor Statistics, house price appreciation from Freddie Mac, and single-family housing permit growth from the U.S. Census Bureau. An MSA must have improvement in all three areas for at least six months following their respective troughs to be included on the improving markets list.
Seven markets dropped from the NAHB/First American Improving Markets Index in February as they experienced softening house prices: San Jose, Calif.; Washington, D.C.; Kankakee, Ill.; New Orleans; Worcester, Mass.; Jackson, Miss.; and Sherman, Tex.

A complete list of all 98 metropolitan areas currently on the IMI, and a separate breakout of metros newly added to the list in February, is available at: www.nahb.org .

© 2012 Florida Realtors®

Reprinted with permission. Florida Realtors®. All rights reserved.

Fascinating – Factual Information for the Southwest Fl Real Estate Market –

Where Is It Headed?

Read This Article and Decide For Yourself!

Much of the content of this article and pictures have originally been published on Trulia.com In it is fascinating – factual information about the US housing market. I took parts of it and made a few edits to point out pertinent information regarding the Southwest FL Real Estate market.

The original article can be read here.

More than 1 in 3 home searches cross state lines. Trulia’s Metro Movers report reveals where these house hunters are looking to move into and move out of.

This is a quick-and-dirty analysis of house hunting activity between people living in one metro area and homes located in another.

Lets take a look at parts of the study and discuss its importance to the Southwest FL Real Estate Market

By specifically looking at the study and home searches, we can get a real good idea on where today’s house hunters are headed tomorrow.

The study found that more than 1 in 3 home searches on Trulia.com cross state lines. So if that tells you anything, there’s a notable chunk of people looking to move really far away. Meanwhile, everyone else wants to stay somewhat close to where they live now.

Look at the amount of home searches heading to Florida!

To illustrate what the study means, they built a really cool map that shows you from where people are looking to move in and move out. Using San Francisco as an example, here’s how this maps works.

As you can see from the map pasted below, San Francisco is quite a draw to a whole slew of house hunters across America, namely from Los Angeles, New York, Washington DC,Chicago, Phoenix and Houston.

Meanwhile, if you were to click on New York and on the “Outbound Search” button at the top, you’ll see that New Yorkers looking to get out of New York and its surrounding suburbs prefer to head to Los Angeles, Atlanta, Miami or West Palm Beach.

There sure has been a lot of buzz about the Sunshine state and housing.

We have been experiencing a huge increase in the Southwest FL Real Estate business. House hunters have a quite the love affair with the bargain bin homes for sale throughout the state — especially if they live in the Midwest and Northeast.

 Interesting factoid.

Of the top 10 metro areas where there are more homes searches by out-of-towners looking to move in than home searches by locals looking to get out of dodge, 7 are in Florida. That’s right, there are more people looking to move to America’s retirement capital than leave. 

What does this mean to you?

Florida is under acquisition - people are moving here now, and others are considering to move shortly.

There are only TWO types of transactions.

1. Event purchase
2. Process Purchases

Let me explain the difference -

• An Event purchase is similar to buying a pair of shoes or going out to dinner. It takes about a microsecond to make the decision and take action.
• A Process Purchase is what happens with big purchases such as an automobile or Real Estate. You begin looking, searching, researching and digesting the information. If you are interested in something, you do more research (like what we just discovered in this article) After a while, you make the decision to create the event and make the purchase.

Southwest FL Real Estate is “smack-dab-in-the-middle” of the Process.

Prices have already begun to increase. If are even remotely considering investing in Southwest FL Real Estate, do it now.

Visit http://CharlotteCountyLots.com right now and begin the process.

If you are simply considering the process, want more information and prefer to remain completely anonymous, go to here and sign in – you can research the Real Estate Market like a Real Estate Agent – from the privacy of your own home. Go here now and begin your search!

Another reason why to buy land in Charlotte County –

Take a look at the Lee County- Cape Coral “Getchia’s” with Water and Utility Charges.

The following is copy of a brief discussion between a few well known and knowledgeable real estate professionals in Cape Coral:

Q: If the City of Cape Coral goes forward (and it looks as if it will) how will that affect the value of the effected lots if a new assessment of $20,000 is levied?

Also, how will that effect values of lots and homes in the Cape where the assessments are paid off.

I know what happened in the past, however I was just looking for input for the membership.

A: There will be an initial group that will panic and dump their lots for nothing. Others will just hold on and pay the extra $100 per month until they get tired. This will bring prices down for sure.

The difference is this time what about the guy who paid $30,000, $40,000 or even $60,000 cash??He is unlikely to dump for 2k.  As for homes, some people want the utilities but most cannot afford to pay. What choice do they have?

Other areas with water and sewer will be in demand.

Last time several builders gobbled up these cheap lots. This time there may not be as much demand from the builders because the existing home prices are low.

I checked with the city last month. The old plan had water and sewer going south of Pine Island before they go north. I think SW 6 and SW 7 were next on the list. They used to have a map on their website but it is gone. According to my contact, even if they had a plan in place tomorrow it would take close to 2 years to start. Bottom line: It will definitely affect prices both good and bad. The UEP really is the gorilla in the room for Cape Coral.

UEP Map <http://buildingcalc.capecoral.net/map.htm>

GOOD NEWS – Neal communities announced they are expanding operations into Lee and Collier Counties.

With Neal Communities expanding further south into Lee and Collier counties, it is more proof that the Florida Real Estate market is growing.

This means Cape Haze Real Estate Prices are Poised to Go Up

What that means to lot owners and investors in the Cape Haze, Placida and Rotonda area is, lot prices will increase!

“Almost like the cream in the middle of an Oreo cookie, our real estate prices cannot help but go up because of the upward pressure being put on us from the north and the south”

This is all really good news because historically, when people move to Florida, they only stay in the area they move into for 2.5 years.

What we have in the Cape Haze area that they don’t is BEACHES – WATER – FISHING!

Read the article below – it is very encouraging news.

Neal Communities expands south into Lee, Collier counties

By JOSH SALMAN – jsalman@bradenton.com

http://www.bradenton.com/2012/02/02/3840474/neal-communities-expands-south.html

LAKEWOOD RANCH — Neal Communities, one of the area’s largest home builders, will expand into Lee and Collier counties — the epicenter of Florida’s housing market, the company announced late Wednesday.

Neal will partner with the real estate firm Cameratta Companies to develop a project on Three Oaks Parkway in Estero slated for 120 paired villas, that will range in size from 1,400 to 1,550 square feet. A tentative opening is planned for early 2013.

Neal Communities President Pat Neal also is in negotiations to buy additional parcels of undeveloped land in the Fort Myers and Naples market this year, with hopes to develop there as well. The company declined to elaborate.

While all operations initially will continue to run through Neal Communities’ current headquarters in Lakewood Ranch, the developer is planning to open a satellite office in Lee or Collier counties within the next six months.

“We have always taken a very personal and hands-on approach to all our projects including accessibility to our homeowners,” Neal said in a statement. “Expanding outside Manatee County means we need to have a local presence and are working to get an office and team of local executives and subcontractors in place before fall.”

The Estero condos will closely mirror the company’s models at Arlington Cove, which are priced from the high $100,000s.

The project marks the first time Neal Communities will migrate out of the Manatee-Sarasota area. The builders southernmost community now is Arlington Cove, which is located in Englewood.

Neal Communities also is engaged in preliminary talks of expanding out east.

“It’s a market not too much unlike the Bradenton-Sarasota market,” said Leisa Weintraub, vice president of marketing, about the expansion. “There’s a lot of similarities.”

Neal Communities will be featured as “America’s Best Builder” in the March edition of the national industry trade publication, Builder Magazine.

With designs ranging from cottages in Forrest Creek to $1 million mansions in Lakewood Ranch Country Club, the company’s variety of homes and aggressive capital positioning has helped it better withstand the recession, a company spokeswoman said.

Along with the Lee and Collier expansion, the developer also this year plans to build a massive Grand Palm subdivision in Venice and a 140-site community on State Road 70 in Manatee dubbed Fairfield.

Neal Communities closed on 376 homes in 2011, with more than 400 gross sales. The company reported total revenue last year of $126.3 million.

To date, Neal Communities has built more than 8,600 homes across Southwest Florida. The developer also runs a title company, mortgage company, pool company and interior design service.

Josh Salman, Herald business writer, can be reached at 941-745-7095.
Read more here: http://www.bradenton.com/2012/02/02/3840474/neal-communities-expands-south.html#storylink=cpy