Naples in Top Ten Pricey Cities That Pay Off

When you pay a lot of money for something, you hope to get a lot of value in return. Despite the housing downturn and the number of cheap houses it has left in its wake, there is still plenty of expensive land left. According to the Global Property Guide, an online real estate investor’s guide, New York might have slipped from the second-most-expensive city in the world in 2008 to the sixth most expensive in 2009, but an average 120-square-meter (373-square-foot) apartment in the central business district will still cost you a hefty $14,898 per square meter.So why are people willing to pay a fortune to live in certain places? And what are they getting in return for their money? According to a recent working paper from University of Michigan economist David Albouy, there’s a great deal of value to be found in those high prices. Economists look at every asset as having an “amenity value,” which measures the amount of satisfaction the asset brings to its owner. For example, your home has an asset value that is worth much more than the roof it puts over your head. The land where you live brings with it a certain quality of life: How nice is the weather where you live? How close are you to the coast? How many cultural and recreational opportunities are nearby? These quality-of-life factors contribute heavily to the amenity value of a city, and they help explain why housing costs are so high in some places. Another big component of a city’s amenity value — trade productivity — is essentially, how many goods does the city produce that other people value? The San Francisco area has Silicon Valley. New York has Wall Street. But productivity boosters can come in other forms, such as universities that produce an educated workforce, easy access to water or other transportation, or proximity to natural resources. How do these factors create amenities? Residents of highly trade-productive cities tend to enjoy higher wages. What’s more, businesses flock to these cities to enjoy the advantages. As incomes and employment go up, so do housing costs. Click here for more on Top Ten Pricey Cities That Pay Off.

Cascada in Estuary boasts indoor, outdoor privacy

Located in Estuary at Grey Oaks at 1505 Marsh Wren Lane, The Lutgert Companies’ Cascada model presents the spaciousness of an estate home with the convenience of a virtually maintenance-free villa.

The Cascada’s great room plan offers three bedrooms, a library, and four-and-a-half baths, 3,682 square feet under air, and 5,261 total square feet. With a nature preserve as a backdrop and a landscaped cul-de-sac homesite, there is generous privacy afforded to both the indoor and outdoor living spaces.

The home’s exterior features a brick-paver driveway, side-entry three-car garage, plus golf cart storage, barrel tile roof, arched passageways and the window trim represent touches of the villa’s Italian inspired architecture.

An arched mahogany entry door, fitted with oil-rubbed bronze hardware, opens to the finished foyer and transitions to the gallery, which leads to the formal dining area to the left; the master quarters to the right; and the great room ahead.

Square columns act as a gateway to the great room where step crown ceiling moulding, a large niche for the media center and 18- by 18-inch porcelain tile define the space. The double French doors open to the pool area and expand the periphery views to the inside.

The gourmet kitchen is custom designed with cabinet-front KitchenAid appliances including a 48-bottle wine cooler; a five-burner gas cook top; Cherry Bordeaux custom cabinets with full extension drawers; and Baltic brown granite countertops with bevel edge. The island has a stainless steel Franke vegetable prep sink with Grohe faucet. An Insta-hot water filtration system conserves the homeowner’s time and resources.

The formal dining room is accessed through the neighboring kitchen, and also the gallery, which features a groin vault ceiling. The walls of the dining room are finished in a gold tone and the ceiling vault faux paint is done in a complementary terra cotta hue. A three-panel window with transoms draws in natural light and dense landscaping provides privacy to the room.

On the opposite end of the gallery, a double door entry opens to the vestibule of the master quarters. The suite features his-and-her baths, a sitting area positioned in front of a bay window, and a morning bar located just inside the vestibule.

Her bath features Monticello cherry Bordeaux cabinets with marble countertops; a Riva six-foot soaker tub with porcelain tile deck and floor; separate shower; water closet with toilet and bidet, and an open archway to the closet. His bath features Monticello cherry Bordeaux cabinets topped with marble, a porcelain tile shower with bench seat and walk-in closet.

Click here for more on the Cascada in the Estuary at Grey Oaks.

4 New Agents Join Premier Properties of Southwest Florida Inc.

Monica Cameron, Meghan Reed, Scott Pearson and Dave Flowers have joined the company.

Cameron is a long-time Naples resident and has been involved in real estate since 1981. She was a top producer with Coldwell Banker for 10 years. In 1991, she joined Cameron Real Estate, where she established and headed the residential division until joining Premier Properties. Cameron will work from the Premier’s sales office at the Village on Venetian Bay. Cameron received a bachelor’s degree in education from the College of Notre Dame and a master’s degree in guidance from Seton Hall University. Before real estate, she taught at St. Ann’s School and Community School in Naples. Cameron is originally from South Orange, N.J.

Reed will be working from Premier’s Vanderbilt branch office. She has 10 years of experience in the residential building industry as co-owner of a tile and marble company. Originally from Pittsburgh, she moved to Naples in 1996. Reed holds a degree in English from East Carolina University. She is a member of the Naples Area Board of Realtors (NABOR).

Working out of the Premier’s sales office at the Village on Venetian Bay, Pearson has been in real estate for 13 years. He is from Orono, Minn., where he owned and operated Twin Cities Realty Inc. Pearson studied business at University of Michigan and is a member of NABOR.

A Florida resident since 1993, Dave Flowers relocated from Mears, Michigan. He has 13 years of real estate experience rooted in Marco Island and will be working out the company’s Marco Island office in the Esplanade. Flowers studied business at Ferris State University and Central Michigan.

Price of Paradise: Cottage has 150 feet of beach frontage, views of Naples Pier

AQUALANE SHORES: Listed at $8.3 million

SPECS: 5,528-total-square-foot Old Florida beachfront cottage has 150 feet of beach frontage on the Gulf of Mexico and boasts beach access and views of the Naples Pier. There are six bedrooms, four full bathrooms, a study, family room, great room, game room and an open lanai facing west.

DETAILS: Mature palms grace the landscape of this large beachfront lot at 71 18th Ave. S. Built in 1951, this home offers 5,052 square feet of living space and updated features which include zoned heat and air conditioning, and appliances such as a dishwasher, disposal, range and refrigerator/icemaker. A two-story addition offers a three-car garage with a game room above. Interior details include vaulted ceilings, French doors, ceramic tile and wood flooring. The lot also provides the opportunity to build a new home. Third Street South and the Naples Pier are within walking distance.

SOURCE: Richard Prebish, Premier Properties of Southwest Florida Inc. Realtors, 239-357-6628, richardprebish@yahoo.com, www.RichardPrebish.com.

Price of Paradise: Estate home has 7,000 square feet of living at Estates at Bay Colony Golf Club

ESTATES AT BAY COLONY GOLF CLUB: Listed at $4,495,000

SPECS: 9,476 total-square-foot estate home offers seventh fairway and lake views. This home has five bedrooms, six full baths, two half baths, a library in a separate wing of the home and a detached private guest cabana. There is also a three-car garage with golf cart parking.

DETAILS: Encompassing 7,032 square feet of living area, this two-story luxury residence is located at 9759 Bentgrass Bend in the Estates at Bay Colony Golf Club. The home also includes a media/game room, chef’s kitchen with custom cabinetry and granite countertops, walk-in wine cooler, built-in bookcase in the library, formal dining room, living room with fireplace, family room with disappearing sliding glass doors, wet bar, screened lanai with summer kitchen, and an open pool and pool deck. Marble flooring is used throughout the main living areas.

SOURCE: Marlene Abbott-Barber/Leah D. Ritchey, Premier Properties of Southwest Florida Inc., Realtors, Abbott-Barber: 239-552-5511, Marlene@premiermail.net; Ritchey: 239-552-5512, Leah@premiermail.net.

Summer Concert Series Debuts At Mercato

The Mercato, Naples newest uptown shopping and dining destination kicks off a Summer Concert Series on Friday, July 3^rd.  This outdoor festival-style event at Mercato will be held on the first Friday of the month through September.  Kick off your  Holiday weekend with some funky blues and Jazz with MudBone (across from The Pub) and Mark Fogel (next to Whole Foods). Merchants are joining in the celebration with great food specials, cookouts, and drawings. Enjoy beer sampling and organic cookout at Whole Foods;  drink specials and made to order pizzas at Piola; complimentary passed appetizers from 4:30 to 6:30 in the Capital Grille lounge plus a chance to win $100 dining experience; cooked out Kobe burgers and more at AZN; drink specials starting at $1.95 from 3:30 – 6:00 at McCormick & Schmick’s; in-store drawing at Z Gallerie; drawing and discounts at GiGi’s Children’s Boutique; and extended “happy hour” from 3-8 at The Pub.  Stroll Strada Place and check out all the latest happenings at North Naples newest and coolest spot, Mercato. Designer furnished models are open daily until 8 pm.  Summer Concert Series Hours from 5-8 pm. Free Covered Parking; 9118 Strada Place; 239.403.2204 for more information.

Goodlette retiring from Naples law firm, keeping Tallahassee staff job

Dudley Goodlette is hanging up his hat as a real estate attorney, at least for now.

He’s retiring from the Naples law firm that carries his name. He no longer has time for his law practice as he grips the reins of what has become a second full-time job as chief of staff for Florida House Speaker Larry Cretul.

“It’s impossible for me to divide my loyalties between this new endeavor and the law firm,” he said.

Goodlette, 61, served in the House from 1998 to 2006 before term limits forced him to retire from state office. He started his new job with Cretul in February.

At first, he didn’t know whether the job would last beyond this year’s legislative session. “Since that time they’ve asked me to stay on for another year or so,” Goodlette said.

Most of his time now is spent in Tallahassee. On Monday, he was working from Orlando.

Goodlette is a founding partner of Goodlette, Coleman, Johnson, Yovanovich & Koester PA. On July 1, he will no longer be an owner and his name will be dropped from the law firm that he helped start more than 13 years ago.

 

click here for more on Dudley Goodlette

Price of Paradise: Old Florida-style home built in 2005 in Naples has many amenities

NAPLES: Listed at $2.9 million

SPECS: 5,127-total-square-foot home has three bedrooms, three-plus baths, a den and an outdoor living space that offers a kitchen and patio with fireplace that overlooks the pool and fountains. The ground-floor master suite is a private retreat with a master bath that features custom-built cabinets, marble and onyx. Custom painted murals embellish the foyer and grand staircase.

DETAILS: Located at 366 Central Avenue, this Old Florida-style home with sprawling front porch was built in 2005. The open floor plan offers 3,379 square feet of living area and blends indoor spaces with the outdoor living space. The home features a grand staircase, 10-foot ceilings, walnut flooring throughout the main living area, a built-in bookcase, custom kitchen cabinetry and granite countertops, and hurricane-rated windows. The second-floor offers a loft at the top of the staircase and two bedrooms, each with a private bath and access to the covered balcony. The alley at the rear of the property accesses the attached two-car garage.

SOURCE: Ruth Trettis, Premier Properties of Southwest Florida Inc. Realtors, 239-571-6760, Ruth@premiermail.net, www.ruthtrettis.com.

Price of Paradise: This certified green home in Mediterra has 15th fairway views.

MEDITERRA: Listed at $4.85 million

SPECS: 9,171-total-square-foot custom built estate home is situated on a corner site offering golf course views of the 15th fairway. This certified green home has three bedrooms, four baths, den, family room, exercise room, wine storage and three-car garage. It’s outdoor living spaces include a custom pool, spa, summer kitchen with disappearing screens and a putting green.

DETAILS: Built by BCB Custom Homes in 2005, this Mediterranean-style home is located at 15134 Brolio Lane. Encompassing 6,604 square feet of living area, this home offers a family room with wet bar, groin and barrel vaulted ceilings, grand arches, faux-finished walls with Old World detailing, chisel-edged marble flooring and cast stone columns. Kitchen appliances include a Wolf eight-burner range, Miele stainless steel dishwasher and Sub-Zero refrigerator. The butler’s pantry has a double Sub-Zero temperature controlled wine cooler. This home also has a 60-kilowatt generator, five-zone air conditioning, scene lighting system and touch screen music.

SOURCE: Emily K. Bua/Tade Bua-Bell, Premier Properties of Southwest Florida, 239-213-7420, emily@premiermail.net, www.buasellsnaples.com.

Esperia South Opens New 25th-Floor Model Residence

The Lutgert Companies has introduced its newest model residence in Esperia South at Bonita Bay. The two-bedroom-plus-den, three-bath Residence 2502 has 2,730 square feet of interior space, complemented by 320 square feet of outdoor space on two terraces.

The great room and dining room share an L-shaped space that opens onto a screened terrace overlooking Estero Bay and the Gulf of Mexico. The two rooms, as well as foyer, kitchen and family room, also share dark wood flooring. The great room’s conversation area is bordered by a wall that has been finished as an entertainment center and a wall of glass that overlooks the water. The residence’s views and spacious feel are enhanced by 11-foot-tall ceilings throughout most of the home.

The kitchen, centered between the dining room and family room, has granite counters, a side-by-side refrigerator, electric range and a breakfast bar that separates it from the family room. The family room adjoins an open terrace that faces the Bonita Bay community to the east.

The master suite enjoys a western view of the Gulf, and the guest suite, on the opposite side of the home, opens onto the summer kitchen-equipped screened terrace. The third bedroom is shown as a den, and the full bath outside its entrance is easily accessed from the family room.

The home is available for $1,850,000, including furniture and finishes by Antonacci Design Group. Other available homes in Esperia South range in size from 2,102 square feet and are priced from $660,000. Log onto www.BonitaBayHighRises.com for details.

click here for more on the new Esperia South residence.