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Naples, Bonita Springs & Estero Real Estate Industry News & Updates

New year, new look for Bonita Bay Club

January 10th, 2011 by

When Bonita Bay Club members returned to their winter homes this season, they discovered their 2,400-acre community sported a new look, with a revamped clubhouse, tennis facilities and more.[...] Read More

State Attorney General’s Office files new complaint against Bonita Bay Group

December 3rd, 2010 by

The Florida Attorney General’s Office today amended its complaint against Bonita Bay Group to provide more details in allegations of deceptive and unfair trade practices.[...] Read More

Bonita Bay members who took over club from developer give it new look

October 29th, 2010 by

Bonita Bay Club is like a new club.

The club is now owned by its members. There are new operating and employee policies, new committees, new staff, new programs – and most noticeably there is a new look.

In March, members purchased their club from Bonita Bay Group for $11.5 million in cash, waiving most of the developer’s liability for the deposits they put down when they first joined years ago.

By June, the club had a new manager, Daniel Miles, who has more than 25 years of experience in private club management. He came from the exclusive Medinah Country Club in Chicago, host to the 2012 Ryder Cup.

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March Sales Report: Bonita Springs Florida Waterfront Property

April 15th, 2010 by

What’s been selling in Bonita Springs Florida Waterfront Properties?  See our March Sales Report that includes all sold properties, average days on market, average sale price and more.  Also see year to date sales,  sales trends and more…bonita-springs-waterfront-2010BONITA SPRINGS WATERFRONT PROPERTIES MARCH SALES REPORTS[...] Read More

March Sales Report: Bonita Beach & Barefoot Beach Florida

April 13th, 2010 by

What’s been selling in Bonita Beach & Barefoot Beach Florida.  See our March Sales Report that includes all sold properties, average days on market, average sale price and more.  Also see year to date sales,  sales trends and more…bonita-barefoot-beachBONITA BEACH AND BAREFOOT BEACH MARCH SALES REPORT[...] Read More

Bonita Bay developer being sued by Florida attorney general’s office

March 22nd, 2010 by

Attorney General Bill McCollum today announced that his office has filed a civil lawsuit against high-end, Bonita Springs-based developer the Bonita Bay Group — alleging that the company took hundreds of thousands of dollars in “membership fees” to country clubs, marinas and other social establishments, but failed to provide the promised refunds.

The lawsuit alleges that despite demands, Bonita Bay Group has not refunded membership deposits to approximately 800 resigned members and may owe over $215 million in un-returned membership deposits, according to a release this afternoon.

The lawsuit states that an integral part of Bonita Bay Group’s marketing strategy is the marketing of club memberships with the written representation that a member’s “deposit,” which ranged from $25,000 to $180,000, would be immediately refunded within 30 days of a member’s resignation.

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Big land deal: Nearly 700 acres sells for $8 million in Bonita Springs

February 25th, 2010 by

Land Solutions, Inc. has successfully brokered the sale of about 690 undeveloped acres located on Bonita Beach Road formerly known as Bonita Beach Golf Club. The parcel is permitted for residential development. The $8M sale from RC Properties, LLC to BB Road, LLC also included 724 acres of off-site mitigation parcels located in Lee and Hendry counties.[...] Read More

Shadow Wood, Commons Club members purchase clubs’ assets from Bonita Bay Group

January 18th, 2010 by

The members of Shadow Wood Country Club and The Commons Club at The Brooks in Estero on Friday completed the purchase of their clubs’ assets for a combined $8.25 million, according to a statement released Friday by the Bonita Bay Group.[...] Read More

Look ahead: Lee County real estate uncertainty will remain in market

December 29th, 2009 by

2009 was a turbulent time for real estate in Lee County, with home values drastically falling before stabilizing in the fall as buyers entered the market with a vengeance, drawn by fire-sale prices. Meanwhile, the commercial market — long seen as more solid than residential — started to show cracks late in the year as even major players went into foreclosure and vacancy rates soared.

Here’s what experts say is in store for 2010:

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Bonita Bay Club members reach deal to purchase assets

December 7th, 2009 by

The Bonita Bay Club Turnover Committee and Bonita Bay Group today reached an agreement in principle for the members of the club to purchase the club assets for a total of $12 million, including contributions of $11.5 million from the members of the new club, according to a statement released today by the company.

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Lee County foreclosures still trending downward

December 6th, 2009 by

The foreclosure rate in Lee County in November slowed to levels last seen more than two years ago as the real estate boom’s glut of heavily financed, inexpensive homes finally burns itself out.[...] Read More

Home resales rose more than 60 percent in October in the Fort Myers area

November 14th, 2009 by

Home resales rose more than 60 percent in October in Lee County.

Members of the Realtor Association of Greater Fort Myers and the Beach Inc. closed 63.6 percent more single-family homes last month than they did in October 2008. Nearly 70 percent of those transactions involved foreclosures or short sales – sales made for less than the bank is owed.

More than 48 percent of last month’s sales were bank owned and a little more than 30 percent were traditional sales, according to the Realtor association.

Many first-time homebuyers scrambled to take advantage of an $8,000 federal tax credit that was scheduled to expire on Nov. 30, which has now been expanded and extended until next year.

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Bonita Bay to rethink access

November 12th, 2009 by

Bonita Bay’s top executive said the company will re-evaluate a decision to offer public access at Bonita Bay Club — its private, flagship community.

The developer’s decision last week to create a preview program where prospective members can enjoy full club access without making an equity purchase for the cost of dues only, met with heavy resistance.

The dues would be about $800 a month. Existing members, meanwhile, paid thousands in initiation fees on top of monthly dues for the same access.

“You kind of feel violated,” said Hunter Caffee, a Bonita Bay member since 1995. “It’s always been an exclusive club. Now anybody that has $800 a month can play.

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General admission: Some Bonita Bay golf members ‘livid’ about opening club to ‘anyone’

November 10th, 2009 by

Bonita Bay Club isn’t so private or exclusive anymore.

A new preview program allows new members to join the club without paying any initiation fees. They don’t have to live behind the gates of Bonita Bay, one of the most well-known golf communities in Southwest Florida.

“Now it’s open to anyone for nothing,” said Bonita Bay resident Art Herman, who is miffed about the change and has recently resigned from the club.

Bonita Bay Group _ the community’s cash-strapped developer _ announced the program last week as a way to draw new members to the club, which it has been trying to sell to members.

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Shadow Wood, Brooks members to buy clubs from Bonita Bay Group

November 3rd, 2009 by

Naples News

A deal for members to buy the Shadow Wood and Commons clubs is in the hole.

Or so it appears.

After calling off an agreement to buy their golf and social clubs in The Brooks in early September from their developer, members have negotiated a new deal that could lead them to victory.

On Monday, Bonita Bay Group announced an agreement in principle for members to purchase the two clubs — and their assets — for $8.25 million in cash. In the original agreement, members would have paid $8.3 million.

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