In the 2008 Florida legislative session, House Bill 601 became law. This bill contained some confusing and ambiguous changes to the laws pertaining to condominium insurance. Much of the problematic language was to be removed in this year’s 2009 legislative session with the passage of Senate Bill 714.

The problem, however, is that the governor recently vetoed Senate Bill 714 for reasons unrelated to insurance, so 714 never became law. The governor said he vetoed Senate Bill 714 for life, safety reasons because the bill would have extended from 2014 to 2025, the amount of time a high-rise condominium association would have to retrofit its buildings by adding fire sprinkler systems to the common area enclosed hallways, corridors, lobbies, stairwells and entryways.

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Robert Feerick knows the value of Naples.  Eight years ago, the prospect of warm weather year-round and Saturday golfing with friends at the Hideout Golf Club were too good to pass up.  So he picked up life in Milwaukee and moved his home and business to Naples.  Feerick now lives with his wife in Pelican Bay and oversees manufacturing plants located as far away as Vietnam from the Naples headquarters of his private investment holding company, Horizon Partners Ltd.

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ESTERO — West Bay Club in Estero is still swinging.

Sales continue at the resort-style golf community, offering traditional and tower homes.

Behind the hustle and bustle of U.S. 41, the development sits quietly near the Gulf of Mexico, bordered by Estero Bay, the Estero River and Halfway Creek.

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Naples Area Board Of Realtors reports March 2009 and 1st Quarter 2009 real estate transactions.  The report shows sales outpace inventory.  Inventory declines 8%.  View 2008 versus 2009 quarterly report by area.

See quarterly statistics data by area

Overall single-family pending sales saw a 137% increase, with 625 in March 2009 compared to 264 in March 2008.  Condo sales saw a 11% increase with 277 in March 2009 compared to 250 in March 2008.

See quarterly statistics data by price

The first quarter of 2009 ends on a high note, as the real estate activity in the Naples area continues to increase, according to a report released by the Naples Are Board of Realtors (NABOR), which tracks home listings and sales within Collier County (excluding Marco Island).

The increase in sales indicates that the Naples real estate market is making a comeback.  An upward swing in the local market has boosted consumer confidence, attracting buyers who had been cautious due to watching national trends. (more…)

The number of foreclosure lawsuits filed in June in Lee County fell to 1,830 from May’s 1,896 and stayed well below the frantic pace of a year ago when 2,390 were filed in June 2008, according to a report by the Southwest Florida Real Estate Investment Association.

It was the third month in a row that the number had declined.

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This report is an in-depth look at the sales figures for the month of June in the Naples real estate market.  It includes new listings, pending listings & closed sales for June 2004-2009.  It also includes this data by price breakdown.

Read the June Naples area sales data report

NABOR Reports May 2009 Real Estate Transactions. Report shows sales are up in all areas. There was a 10% inventory reduction.  Overall pending home sales in the greater Naples Area, which includes Naples Beach, North Naples, Central Naples, South Naples, East Naples, Immokalee, and Ave Maria, saw an increase of 101 percent with 1,029 units in May 2009 compared to 511 in May 2008.

The market continues to trend upward, with an increase in sales and a reduction in inventory. Home sales increased 36 percent to 5,446 for the 12 months ending May 2009, compared to 4,005 for the 12 months ending May 2008,” stated John Steinwand, President of Naples Realty Services.

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Driven by Southwest Florida’s housing crisis and a highly favorable exchange rate, Canadians are snapping up bargains for second homes and investments.

Where many here see crisis, Canadians see opportunity.

Canadians account for about 25 percent of sales to foreign home buyers in Florida, according to the National Association of Realtors.

In the past year, that number has become particularly evident in Lee County.

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