Fully furnished model homes continue to sell at Mediterra, the 1,697-acre North Naples community created by Bonita Bay Group.
Buyers closed on three model homes between early December and mid-March. The homes — two custom single-family estates and a luxury coach home — sold for a combined $8,525,000, said Kelli Eastman, director of sales for Bonita Bay Group.
“People are realizing there’s tremendous value in the Southwest Florida real estate market right now,” Ms. Eastman said. “They’re moving forward and buying now because they’re afraid they’ll miss out.”
Industry reports show that prices in Southwest Florida have adjusted during the past 12 months and national experts who once targeted Naples as one of the most over-inflated markets in the country are now saying the city is undervalued. Entry-level pricing at Mediterra begins in the $700,000s for coach homes, $800,000s for villas and $300,000 for single-family homesites. Custom homes, priced from $1.5 million to more than $7 million, are also available.
Limited-time incentives offered by Bonita Bay Group also enticed buyers, Ms. Eastman said. “Buyers who signed a contract by the end of April received club membership benefits toward golf and HOA master association fees,” she said. “It really added to the value of buying now.”
The award-wining Club at Mediterra offers two Tom Fazio-designed championship golf courses, a 25,000-square-foot clubhouse, named best clubhouse twice by the Collier Building Industry Association, and the Sports Club with five Har-Tru tennis courts, an outdoor pool, three spa rooms and fitness center. The private Mediterra Beach Club on the Gulf of Mexico features an elevated swimming pool, expansive sundeck, and indoor and al fresco dining overlooking 200 feet of shoreline.
The most recent round of model home sales continue the momentum recorded last year in Mediterra, when seven furnished models, totaling nearly $21.5 million, sold during the first three quarters of 2008.
The three recent sales included: The Pavia, a four-bedroom, 5 ½-bath singlefamily model built by Harwick Homes; The Newport Companies’ four-bedroom, five-and-one-half-bath single-family Corte Bella; and the Bella Verde, a threebedroom, three-bath luxury coach home built by Taylor Morrison with nearly 2,875 square feet of living space. Source: Floridaweekly.com
