Judy Green, President and CEO of Premier Sotheby’s International Realty, announced the appointment of Cathy Rogers as Sales Associate.
Ms. Rogers, a Certified Luxury Home Specialist, will focus on luxury real estate sales from Premier Sotheby’s International Realty’s office at 760 North Collier Blvd, at the Esplanade Shops, on Marco Island.
Previously, Ms. Rogers worked for Keller Williams Realty, where she consistenly ranked as one of their highest top producers and earned numerous Real Estate performance awards including Sales Team of the year multiple times as well as Gold and Platinum awards. Ms. Rogers also served on agent leadership boards.
A longtime Marco Island resident, she is actively involved in the community and was honored with an award for the 2009 “Women in Business”, and is a member of the Chamber of Commerce.
Ms. Rogers is a graduate of Sacremento State Unversity. Before her career in real estate, she enjoyed a successful career in customer service with a major airline.
She holds numerous Real Estate certifications to include her advancedCustom Luxury Home Marketing Specialist (CLHMS), Council of Residential Specialists Certification (CRS), Graduate Real Estate Certification(GRI), Seniors Real Estate Specialist (SRES), Certified Distressed Property Expert (CDPE), Accredited Buyers Representative Certification(ABR) the highly sought after Million Dollar Guild designation.
About Premier Sotheby’s International Realty
Premier Sotheby’s International Realty is a division of The Lutgert Companies founded in 1984 by Chairman Scott F. Lutgert. The firm has offices strategically located between Bonita Springs and Marco Island with headquarters in Naples, FL. The Lutgert Companies also owns Lutgert Title, Lutgert Insurance, Premier Commercial, and Signature Sotheby’s International Realty, with three offices in the Sarasota region.
About Sotheby’s International Realty Affiliates, Inc.
Founded in 1976 to provide independent brokerages with a powerful marketing and referral program for luxury listings, the Sotheby’s International Realty network was designed to connect the finest independent real estate companies to the most prestigious clientele in the world. In February 2004, Realogy Corporation, a global provider of real estate and relocation services, entered into a long-term strategic alliance with Sotheby’s, the operator of the auction house. The agreement provided for the licensing of the Sotheby’s International Realty name and the development of a full franchise system by Realogy’s subsidiary, Sotheby’s International Realty Affiliates LLC. Affiliations in the system are granted only to brokerages and individuals meeting strict qualifications. Sotheby’s International Realty Affiliates LLC supports its affiliates with a host of operational, marketing, recruiting, educational and business development resources. Franchise affiliates also benefit from an association with the venerable Sotheby’s auction house, established in 1744. For more information, visit www.sothebysrealty.com.
Craig Jones, a Broker Associate with Premier Sotheby’s International Realty, a luxury real estate firm, has been honored by Distinctive Woman, a magazine that focuses on the dynamic energies of the incredible women who contribute each and every day to the success of their community. Whether an entrepreneur, a not-for-profit organizer, a healthcare professional or a driven executive, these women represent an exclusive network of industry leaders and upper-echelon performers.
In today’s evolving real estate market, home buyers and sellers need a dynamic, dedicated and knowledgeable agent. “You can have everything you want if you help people get what they want,” said Ms. Jones. “My only goal: to deliver the most professional experience imaginable to every client every day. That entails tirelessly studying the market, honing her skills and working closely with her clients. Every transaction is unique. I love the diversity and complexity of each project and I’m fascinated by the people I meet.”
Whether listing a luxury home or assisting an international buyer, Ms. Jones takes a full-service approach. “I relish the left brain/right brain aspect of my business,” she explains. “Good agents are creative in their marketing, appreciative of a home’s aesthetics, tuned into their client’s emotions and adept at analyzing data and managing a thousand details.”
Her tenacious work ethic and integrity are hallmarks of her success. “I follow my family’s mantra: work hard, set high standards, stick to your values and hold on to your sense of humor.”
Ms. Jones, an agent with the firm’s office at 390 Broad Avenue in Old Naples, has been active in the real estate industry for ten years and a Naples resident since 2002. Prior to her career in real estate, Ms. Jones held principal positions in advertising and management consulting firms in both St. Louis, MO and New York, NY. In addition, she previously served as the Associate Dean at the University of Missouri-St. Louis. Jones has conducted real estate transactions in excess of $135 million, and is also the recipient of Gulfshore Life Magazine’s Five-Star Agent Award for her commitment to client success.
Ms. Jones’ extensive education includes degrees from Smith College, Washington University and the School of Journalism at Columbia University. Other licenses and accreditations include Certified Residential Specialist (CRS); Accredited Buyer’s Representative (ABR); Member, Graduate Realtor Institute (GRI); Luxury Home Marketing Specialist (CLHMS); licensed Community Association Manager (CAM); and membership in NABOR, FAR and NAR.
In Naples, she was a member of Leadership Collier 2005, a graduate of Leadership NABOR 2004, and the NABOR Rising Star Award recipient for 2003-04. She has served on a number of boards and councils including the Naples Historical Society, the Missouri Governor’s Economics Council, the Animal Protective Agency, the St. Louis Regional Child Care Partnership, and the St. Louis Public Schools Transition Subcommittee. Ms. Jones is the first recipient of General Colin Powell’s Neighbor-to-Neighbor Award.
About Premier Sotheby’s International Realty
Premier Sotheby’s International Realty is a division of The Lutgert Companies founded in 1984 by Chairman Scott F. Lutgert. The firm has offices strategically located from Marco Island, FL to Bonita Springs to Sanibel and Captiva to Clearwater with headquarters in Naples, FL. The Lutgert Companies has operated in Southwest Florida since 1964, when Raymond L. Lutgert started the development of Park Shore, which includes 17 luxury high-rises. The Lutgert Companies is also developing the high-rises at Bonita Bay. In addition, The Lutgert Companies has developed two golf course communities, various shopping centers and office buildings including Estuary at Grey Oaks, Linville Ridge, The Village on Venetian Bay, The Promenade, The Northern Trust Building, and most recently, Mercato, a mixed-use center in North Naples. The Lutgert Companies also owns Lutgert Title, Lutgert Insurance, Premier Commercial, and Signature Sotheby’s International Realty, with three offices in Sarasota, Longboat Key and Venice.
About Sotheby’s International Realty Affiliates, Inc.
Founded in 1976 to provide independent brokerages with a powerful marketing and referral program for luxury listings, the Sotheby’s International Realty network was designed to connect the finest independent real estate companies to the most prestigious clientele in the world. In February 2004, Realogy Corporation, a global provider of real estate and relocation services, entered into a long-term strategic alliance with Sotheby’s, the operator of the auction house. The agreement provided for the licensing of the Sotheby’s International Realty name and the development of a full franchise system by Realogy’s subsidiary, Sotheby’s International Realty Affiliates LLC. Affiliations in the system are granted only to brokerages and individuals meeting strict qualifications. Sotheby’s International Realty Affiliates LLC supports its affiliates with a host of operational, marketing, recruiting, educational and business development resources. Franchise affiliates also benefit from an association with the venerable Sotheby’s auction house, established in 1744. For more information, visit www.sothebysrealty.com.
Judy Green, President and CEO of Premier Sotheby’s International Realty, today announced the appointment of Craig Jones as Sales Associate.
Craig Jones
Jones will focus on luxury real estate sales from Premier Sotheby’s International Realty’s office at 390 Broad Avenue, Naples.
Previously, Jones was with John R. Wood, Realtors. Prior to that, Jones held principal positions in advertising and management consulting firms in both St. Louis, MO and New York, NY. In addition, Jones previously served as the Associate Dean at the University of Missouri-St. Louis. Active in the real estate industry for ten years, Jones became a Naples resident in 2002.
Jones has conducted real estate transactions in excess of $120 million, and is also the recipient of Gulfshore Life Magazine’s Five-Star Agent Award for her commitment to client success.
Jones’ extensive education includes degrees from Smith College, Washington University and the School of Journalism at Columbia University. Other licenses and accreditations include Certified Residential Specialist (CRS); Accredited Buyer’s Representative (ABR); Member, Graduate Realtor Institute (GRI); Luxury Home Marketing Specialist (CLHMS); licensed Community Association Manager (CAM); and membership in NABOR, FAR and NAR.
In Naples, Jones was a member of Leadership Collier 2005, a graduate of Leadership NABOR 2004, and the NABOR Rising Star Award recipient for 2003-04. Jones has served on a number of boards and councils including the Naples Historical Society, the Missouri Governor’s Economics Council, the Animal Protective Agency, the St. Louis Regional Child Care Partnership, and the St. Louis Public Schools Transition Subcommittee. Ms. Jones is the first recipient of General Colin Powell’s Neighbor-to-Neighbor Award.
About Premier Sotheby’s International Realty
Premier Sotheby’s International Realty is a division of The Lutgert Companies founded in 1984 by Chairman Scott F. Lutgert. The firm has offices strategically located between Bonita Springs and Marco Island with headquarters in Naples, FL. The Lutgert Companies also owns Lutgert Title, Lutgert Insurance, Premier Commercial, and Signature Sotheby’s International Realty, with three offices in the Sarasota region.
About Sotheby’s International Realty Affiliates, Inc.
Founded in 1976 to provide independent brokerages with a powerful marketing and referral program for luxury listings, the Sotheby’s International Realty network was designed to connect the finest independent real estate companies to the most prestigious clientele in the world. In February 2004, Realogy Corporation, a global provider of real estate and relocation services, entered into a long-term strategic alliance with Sotheby’s, the operator of the auction house. The agreement provided for the licensing of the Sotheby’s International Realty name and the development of a full franchise system by Realogy’s subsidiary, Sotheby’s International Realty Affiliates LLC. Affiliations in the system are granted only to brokerages and individuals meeting strict qualifications. Sotheby’s International Realty Affiliates LLC supports its affiliates with a host of operational, marketing, recruiting, educational and business development resources. Franchise affiliates also benefit from an association with the venerable Sotheby’s auction house, established in 1744. For more information, visit www.sothebysrealty.com.
Joining the likes of extravagant homes from Hawaii to Maine, a Gulf front Naples, home was included in the roster of the finest oceanfront homes for sale by Ocean Home magazine. All waterfront homes featured extend the ultimate in luxury, amenities, acreage, and square footage.
Homes chosen not only have the best architectural and interior designs, but also are located in some of the most desirable neighborhoods in the United States.
After a far-reaching quest for homes at the top of their market, Premier Sotheby’s International Realty’s Port Royal Area property made the cut.
The palatial beachfront home located in the Port Royal Area, along the Gulf of Mexico, made lasting first impressions with details such as the home’s hand-forged wrought-iron gated entry, beyond which a set of cedar and mahogany exterior doors and iron archways welcome you inside. Once inside, owners of the 20,075 total square-foot home have their pick of rooms to use and are treated to niceties like imported travertine flooring with onyx accents, a 32-foot imported travertine fireplace, handmade Italian chandeliers, Costa Brava granite, copper hammered sinks, gorgeous groin ceilings, a custom wood paneled family room, a study, and a library. Additionally, a temperature-controlled wine room, a gourmet kitchen with imported solid granite surfaces and modern appliances by Miele and Thermador make for elegant entertaining. A butler’s pantry, servant’s quarters, and an outdoor kitchen with a fireplace round out the offerings, all of which are surrounded by multiple Gulf side verandahs overlooking a two-level water feature flowing into a beachfront pool.
The home is listed for $21,900,000 with Philip N. Collins, Broker Associate with Premier Sotheby’s International Realty, 239-404-6800; naplesluxuryproperties.com.
Ocean Home magazine, a luxury oceanfront lifestyle publication, announces its fourth annual list of the “Top 25 Ocean Homes” for sale in the U.S. from coast to coast. The current issue (May/June) displays these most exotic, luxurious, and desirable oceanfront homes currently on the market.
About Premier Sotheby’s International Realty
Premier Sotheby’s International Realty is a division of The Lutgert Companies founded in 1984 by Chairman Scott F. Lutgert. The firm has offices strategically located between Bonita Springs and Marco Island with headquarters in Naples, FL. The Lutgert Companies also owns Lutgert Title, Lutgert Insurance, Premier Commercial, and Signature Sotheby’s International Realty, with three offices in the Sarasota region.
About Sotheby’s International Realty Affiliates, Inc.
Founded in 1976 to provide independent brokerages with a powerful marketing and referral program for luxury listings, the Sotheby’s International Realty network was designed to connect the finest independent real estate companies to the most prestigious clientele in the world. In February 2004, Realogy Corporation, a global provider of real estate and relocation services, entered into a long-term strategic alliance with Sotheby’s, the operator of the auction house. The agreement provided for the licensing of the Sotheby’s International Realty name and the development of a full franchise system by Realogy’s subsidiary, Sotheby’s International Realty Affiliates LLC. Affiliations in the system are granted only to brokerages and individuals meeting strict qualifications. Sotheby’s International Realty Affiliates LLC supports its affiliates with a host of operational, marketing, recruiting, educational and business development resources. Franchise affiliates also benefit from an association with the venerable Sotheby’s auction house, established in 1744. For more information, visit www.sothebysrealty.com.
Premier Sotheby’s International Realty today announced it was recognized on the REAL Trends 500 Top Firms Ranked by Volume and Top Firms Ranked by Average Sales Price lists.
The REAL Trends 500 is an annual research report that identifies the country’s largest and most successful residential firms as ranked by closed transaction sides and separately by closed sales volume.
Premier Sotheby’s International Realty was ranked 54th on the Top Firms Ranked by Sales Volume list, which is available in the publication’s May 2011 issue. The list is a ranking of the 500 largest firms that participated in the REAL Trends 500 rankings.
Premier Sotheby’s International Realty was also ranked 15th on the Top Firms Ranked by Average Sales Price list. The list is a ranking of the 25 firms in the REAL Trends 500 by sides or volume with the highest average sales price. Premier Sotheby’s International Realty was the only company in Florida to be included on the list. The Sotheby’s International Realty® network received the most rankings of any brand on the Average Sales Price list.
“We are very proud to have Premier Sotheby’s International Realty and its talented team of professionals represent us in Sarasota, Manatee and Charlotte counties,” said Michael R. Good, chief executive officer, Sotheby’s International Realty Affiliates LLC. “This recognition is a testament to the hard-working individuals that make up this fine firm and the extraordinary listings they represent.”
“We are proud to represent the finest home in Collier and Lee counties,” said Judy Green, President & CEO. “This recognition is a result of our market knowledge and expertise and the support of the Sotheby’s International Realty brand, all of which enable us to effectively market and sell these extraordinary residences.”
The Sotheby’s International Realty network currently has more than 11,900 sales associates located in approximately 560 offices in 42 countries and territories worldwide.
Since 1984, Premier Sotheby’s International Realty, a division of The Lutgert Companies, has been the leading luxury brokerage with offices strategically located from Bonita Springs to Marco Island and their headquarters located in Naples, FL. Premier Sotheby’s has over 250 licensed real estate professionals including a full service rental division, marketing, IT and E-commerce divisions.
The Lutgert Companies, whose history in Southwest Florida dates to 1964, also owns Lutgert Title, Lutgert Insurance, Premier Commercial, and Signature Sotheby’s International Realty, with three offices in the Sarasota region. www.premiersothebysrealty.com.
About Sotheby’s International Realty Affiliates LLC
Founded in 1976 to provide independent brokerages with a powerful marketing and referral program for luxury listings, the Sotheby’s International Realty network was designed to connect the finest independent real estate companies to the most prestigious clientele in the world. In February 2004, Realogy Corporation, a global provider of real estate and relocation services, entered into a long-term strategic alliance with Sotheby’s, the operator of the auction house. The agreement provided for the licensing of the Sotheby’s International Realty name and the development of a full franchise system by Realogy’s subsidiary, Sotheby’s International Realty Affiliates LLC. Affiliations in the system are granted only to brokerages and individuals meeting strict qualifications. Sotheby’s International Realty Affiliates LLC supports its affiliates with a host of operational, marketing, recruiting, educational and business development resources. Franchise affiliates also benefit from an association with the venerable Sotheby’s auction house, established in 1744. For more information, visit www.sothebysrealty.com.
Premier Sotheby’s International Realty is pleased to announce that Christopher Harrington has joined as Broker Manager for the firm’s Old Naples offices located at 390 Broad Avenue South and 776 Fifth Avenue South.
Mr. Harrington’s distinguished career includes 24 years of management experience with exceptional results in marketing and promotional strategies, fiscal oversight, information technology, and associate recruitment and training.
“Chris has an exceptional reputation in his stellar career and we are fortunate to have him on our team,” says Judy Green, President and CEO of Premier Sotheby’s International Realty. “His vast experience in real estate and his hands-on style work ethic will help our agents and company grow in scope as the leading luxury brokerage in Southwest Florida. ”
Most recently, Mr. Harrington served as the Chief Operating Officer with Prudential Palms Realty in Sarasota, Florida and was responsible for the daily operations of 6 residential locations and 250 sales agents.
From 2001 to 2007, Harrington was managing broker for Coldwell Banker offices in Longboat Key, East St. Armands Key and West St Armands Key, in Sarasota. His responsibilities included oversight of daily operations and 145 sales associates and employees. Harrington was credited by many of the top agents for his role in achieving record sales volumes during his tenure there.
“I am excited about this new chapter in my career,” said Harrington. “Our business is so much about relationships, and I look forward to working with our agents to share some new approaches and concepts.”
While Sarasota was home base for many years, Harrington is looking forward to making Naples his new home. ” I am very knowledgeable of the Naples market and the clientele our company attracts,” says Harrington. “This is a great opportunity to be a part of such forward-thinking firm like Premier Sotheby’s International Realty.”
Other former positions include Chief Operating Officer for York Simpson Underwood in Raleigh, North Carolina, and managing broker with Arvida Realty Services in Sarasota, Florida. Harrington began his real estate career with Sarasota’s Michael Saunders & Company in 1995, where he was an award-winning multimillion-dollar top producer and later promoted to Manager.
Harrington, a licensed Florida Real Estate Broker, studied at the College of Charleston in Charleston, South Carolina, and Winthrop College in Rock Hill, South Carolina. He is a Dale Carnegie graduate, and a certified real estate coach. He is also a former USPTA tennis professional.
About Premier Sotheby’s International Realty
Premier Sotheby’s International Realty is a division of The Lutgert Companies founded in 1984 by Chairman Scott F. Lutgert. The firm has offices strategically located between Bonita Springs and Marco Island with headquarters in Naples, FL. The Lutgert Companies also owns Lutgert Title, Lutgert Insurance, Premier Commercial, and Signature Sotheby’s International Realty, with three offices in the Sarasota region.
About Sotheby’s International Realty Affiliates, Inc.
Founded in 1976 to provide independent brokerages with a powerful marketing and referral program for luxury listings, the Sotheby’s International Realty network was designed to connect the finest independent real estate companies to the most prestigious clientele in the world. In February 2004, Realogy Corporation, a global provider of real estate and relocation services, entered into a long-term strategic alliance with Sotheby’s, the operator of the auction house. The agreement provided for the licensing of the Sotheby’s International Realty name and the development of a full franchise system by Realogy’s subsidiary, Sotheby’s International Realty Affiliates LLC. Affiliations in the system are granted only to brokerages and individuals meeting strict qualifications. Sotheby’s International Realty Affiliates LLC supports its affiliates with a host of operational, marketing, recruiting, educational and business development resources. Franchise affiliates also benefit from an association with the venerable Sotheby’s auction house, established in 1744. For more information, visit www.sothebysrealty.com.
Joshua Bahoff bought a three- bedroom luxury condominium in Naples, Florida, in December for $235,000, about one-third of the price that the seller paid near the height of the U.S. housing boom.
“It was a great deal,” said Bahoff, 59, a Philadelphia dentist who plans to spend one week a month every winter in the 2,700-square-foot (250-square-meter) property in Fiddler’s Creek, a residential and golf development south of the city’s downtown historic district on the Gulf of Mexico. “We can’t see this market going down any lower.”
While much of Florida’s real estate market remains depressed by foreclosures, buyers seeking a second home in the state’s affluent vacation enclaves are “finally getting off the fence,” Karen Van Arsdale, an agent at Premier Sotheby’s International Realty in Naples, said in a telephone interview.
Sales in the Naples area last year rose 10 percent, the first annual increase in at least five years, while the median price for homes listed at $300,000 or more gained 4 percent to $544,000, according to data compiled by the Naples Area Board of Realtors. About half of the properties in the market are second homes, and discounts from 2006 peak prices average about 25 percent, said Brenda Fioretti, president of the group.
“Wealth determines housing, and the good places pick up first,” Karl Case, 64, a professor emeritus in economics at Wellesley College in Massachusetts who has been visiting Naples since a family vacation took him there when he was 13, said in a telephone interview. “For people with deep pockets, it’s generally a flight to quality.”
Atlantic Coast
Resort towns on Florida’s Atlantic coast are starting to follow the lead of Naples, said Patricia Fitzgerald, president of the Florida Realtors. Sales in Boca Raton, Jupiter and West Palm Beach rose 32 percent for existing houses and 40 percent for condos in February from a year earlier, according to the group.
Rising stock prices and the decision by President Barack Obama and Congress not to increase tax rates in 2011 contributed to the surge in deals, according to Van Arsdale. Record cold temperatures in parts of the Midwest and Northeast this winter “nudged people” to make real estate purchases they’d been putting off, she said.
Home values in South Florida markets may show a “surprise upward” trend while U.S. prices remain flat this year, according to Lawrence Yun, chief economist in Washington for the National Association of Realtors.
“Given that they are historical vacation destinations for the wealthy, and the stock market having risen so much, it’s possible that they get a nice snap back even though I’m calling for no change nationwide,” Yun said.
International Buyers
The Standard & Poor’s 500 Index, a benchmark for U.S. equities, has risen 91 percent since reaching a 12-year low in March 2009.
International buyers seeking to protect their wealth with U.S. hard assets may also buoy South Florida, according to a June 2010 report by the Chicago-based Realtors association. Florida properties accounted for 22 percent of all purchases made by buyers from outside the U.S. in the 12 months ended in April, the most of any state, according to the report.
The surge in Naples luxury prices contrasts with much of Florida’s housing market, where values are falling amid a glut of foreclosed properties. Loan servicers have been slow to resume home seizures as state attorneys general investigate mortgage-industry practices such as robo-signing, or using employees to sign affidavits and other documents, according to RealtyTrac Inc.
Foreclosure Ranking
Florida’s ranking of foreclosure filings per household fell to eighth among states last month from second in September, before the robo-signing controversy broke, the Irvine, California-based data seller said March 10. Florida ranked second in the number of filings sent to property owners with 18,760.
“The foreclosure market is completely dysfunctional,” said Michael Olenick, founder of LegalPrise Inc., a data seller based in Palm Beach that focuses on distressed properties. “People have given up finding a really cheap foreclosure.”
WCI Communities Inc., a Florida homebuilder that emerged from bankruptcy in September 2009, has “aggressively” reduced peak prices by as much as 40 percent at nine of its developments around the state, including three in Naples, Chief Executive Officer David Fry said in an interview.
The Bonita Springs-based builder, which cut its staff from 4,000 to 600, expects to sell 300 units this year and almost double that number in 2012, he said.
Land Prices
“The stock market has favorably affected confidence in recent months,” Fry said as he sat on the back patio of the Ritz-Carlton Hotel and Golf Resort in Naples, which WCI developed in 2002 as part of its Tiburon community. The hotel hosts the Naples Winter Wine Festival, a charity auction and social event that raised $12 million in January, 48 percent more than last year.
Land prices are rising as the real estate recovery takes hold, according to Steve Hagenbuckle, managing principal of real estate investment firm TerraCap Management Corp. in Cape Coral, Florida. Undeveloped land with zoning approvals in Estero, north of Naples, sold to a public builder he declined to name for $40,000 per quarter-acre lot. Eight months ago, Toll Brothers Inc. (TOL) bought similar land for $10,000, he said.
Premier Sotheby’s International Realty sold 41 Naples residences priced at $2 million or more this year through March 17, a gain of 14 percent over the same period in 2010, according to Lutgert Cos., a Naples property developer that owns the brokerage. There were 55 sales of homes priced between $1 million and $2 million, an increase of 17 percent, President Howard Gutman said in an e-mail.
Closing the Deal
“The buyers are value-conscious, but they’re making decisions,” said Van Arsdale, who brokered four transactions for a combined $27 million since Christmas. The properties sold for about 30 percent less than peak prices, she said.
Richard Azrael, 65, wanted to buy last year at WCI’s Marquesa subdivision next to the Ritz-Carlton until the company bankruptcy delayed his purchase. Last month, he closed on a three-bedroom, 3,000-square-foot condo and golf membership for $720,000, saving about $80,000 over the 2010 price, he said.
“We’ve been thinking of this for several years, and we felt that if we were going to do it, we should do it now,” said Azrael, a real estate developer from Columbia, Maryland. “We’ve been spending a lot of time in Florida on both coasts, and we happen to like the pace and environment in Naples.”
Interstate Access
Naples, with a bay like its namesake Italian city, was developed in the late 1880s by John S. Williams, a U.S. senator from Kentucky, and Walter Haldeman, publisher of the state’s Louisville Courier-Journal. They built homes, a pier and a 16- room hotel, according to the Naples Historical Society website.
The town, about 170 miles (270 kilometers) south of Tampa, remained “a small, lovely oasis along the Gulf of Mexico” until the 1950s, the website says.
After U.S. Interstate 75 was extended from Tampa to Naples and international service began at Southwest Florida Airport, Ritz-Carlton opened the first of its two hotels, a resort on Vanderbilt Beach near downtown, in 1985.
“That put Naples on the map,” Gutman said.
Midwest residents had always been the core vacation group, driving south on I-75, and now they were joined by air travelers and international visitors, Gutman said.
The office portion of the Mercato commercial development, a Lutgert joint venture with Barron Collier Cos. that opened in late 2008, is 83 percent leased with tenants including securities brokers Merrill Lynch & Co. and Wells Fargo Advisors, Gutman said.
Click here for more on Naples Housing Market. Via Bloomberg.com.
RISMEDIA, February 26, 2011—Recent increases in significant sales for the high-end real estate market underscore the need for brokers and agents in this segment to think outside the box when it comes to providing financial options that can help close a sale. Here, Philip White, President and Chief Operating Officer at Sotheby’s International Realty Affiliates LLC discusses how real estate professionals can take advantage of the unique value the high-end real estate market holds.
Buyers are recognizing the unique value that high-end real estate presents as part of a long-term strategy for building wealth. Often, potential buyers move from the sidelines into action based on the different ways that a deal can be structured financially.
Below are some tips for making that happen. As a standard practice, all tax-related questions should be referred to a tax advisor.
Financial Structure: For large pieces of real estate, subdividing the property into separate parcels can allow a buyer to structure the financing more creatively.
In some cases, the seller can take back a first mortgage on the undeveloped parcels instead of a second, which is more common. This provides greater protection for the seller, making this concept more enticing for a buyer. The buyer can then sell those adjacent parcels and pay down the overall debt on the property.
Incentives: Sometimes closing a transaction can require unique financial incentives. For example, a property exchange allows a buyer to transfer a current real estate holding as part of the purchase price and defer the capital gains tax under certain conditions.
In 2010, Peaks Real Estate Sotheby’s International Realty in Telluride, Colorado, sold Bootjack Ranch for approximately $46.5 million, a price point that at the time was the highest known for a residential sale within the United States in the previous 12 months. By incorporating this type of exchange, the broker handling the sale overcame the buyer’s objection that he had another property to sell.
Tax Benefits: Buyers with a high income should be aware of the tax benefits available to them through conservation easements. Transferring the development rights of a tract of land to a nonprofit easement group provides the buyer with a way to take certain tax deductions based on the appraised value of the donation.
Click here for more on High-End Real Estate Provides Unique Value.
The trailer that served as the sales office for Madeira was only open for 10 days in January 2004.
Marco Island’s real estate market was booming.
It was the best of times.
Jim Prange, successfully selling real estate on Marco Island for 30 years with Premier Sotheby’s, waited in line to place offers on desired units for several of his clients.
He reports that all 500 impeccably printed half-inch-thick brochures were gone by noon on the first day.
People lined up for hours to see the scale model with eight floor plans. The prices ranged between $1.2 million and $6.5 million.
Madeira is the grand finale of Marco’s 40-year condo building boom, and it deserves a standing ovation.
During that short 10 days, 237 reservation agreements were accepted for 89 of the 101 apartments available for sale.
Resume
The people reserving a unit indicated their choice of four possible apartments they would like, only one of which would be awarded, if they were shortlisted, wrote a check for $50,000 and attached a resume of whom they were and why they should be selected as a resident.
The executives at MassMutual Financial Group, developer of Madeira and the parent company of the Marco Island Marriott Hotel and Spa next door, huddled and made the choices among the potential candidates.
Many were Marco Islanders. Some were picked based on geography – Chicagoans, New Yorkers and international destinations.
Some were picked because of their interesting backgrounds. The company looked for buyers that would enhance the aura and lifestyle promised.
They kept 10 units for sale at a later date and kept two for executives involved.
A sanctuary
And no wonder people wanted to own in Madeira.
Here are some of the reasons listed in the brochure:
“Idyllic Island – Centuries ago, Madeira, a small island off the coast of Portugal, set the standard for detailed architecture amidst miles of wide open beaches. Today, Madeira on Marco Island recreates that feat with luxury beachfront living for only a fortunate few. One of the northernmost islands of the renowned Ten Thousand islands, Marco Island is an 11-square-mile sanctuary intertwined with the sun’s warming rays and nurturing Gulf waters. Very simply, Marco Island represents the epitome of island living with its rich Florida history and culture.”
Click here for more on this article.
Premier Sotheby’s International Realty is pleased to announce that Michelle Burke-Phillips has joined as Managing Broker for the firm’s Gallery office in the Northern Trust Building in Naples.
Ms. Burke-Phillips brings more than 30 years of real estate management experience to Premier Sotheby’s International Realty.
“We are delighted to have someone of Michelle’s caliber and expertise on our team,” said Judy Green, President and CEO of Premier Sotheby’s International Realty. “Her leadership skills and shared vision for excellence will provide our agents with the resources and support to achieve even greater results.”
Ms. Burke-Phillips is a veteran of the Southwest Florida real estate market and a licensed real estate broker for more than 20 years. In Naples, she served as Managing Broker for the Coldwell Banker Residential Real Estate. Additionally, she has held the role of Vice President for the Sarasota Sotheby’s International Realty affiliate; Executive Vice President of Sales and Marketing for Lee Wetherington Homes; and Vice President of Residential Sales for Michael Saunders & Company.
“I am thrilled to back with the Sotheby’s brand and to be a part of the Premier Sotheby’s International Realty’s growth in the Naples area. Sotheby’s global reach and recognition combined with Premier’s respected reputation and performance make the combination of services irresistible to our affluent clientele.”
Ms. Burke-Phillips served as director on NAR and SAR’s Board of Directors as well as the Sarasota County Arts Council and the Sarasota Film Festival Boards of Directors.
About Premier Sotheby’s International Realty
Premier Sotheby’s International Realty is a division of The Lutgert Companies founded in 1984 by Chairman Scott F. Lutgert. The firm has offices strategically located between Bonita Springs and Marco Island with headquarters in Naples, FL. The Lutgert Companies also owns Lutgert Title, Lutgert Insurance, Premier Commercial, and Signature Sotheby’s International Realty, with three offices in the Sarasota region.
About Sotheby’s International Realty Affiliates, Inc.
Founded in 1976 to provide independent brokerages with a powerful marketing and referral program for luxury listings, the Sotheby’s International Realty network was designed to connect the finest independent real estate companies to the most prestigious clientele in the world. In February 2004, Realogy Corporation, a global provider of real estate and relocation services, entered into a long-term strategic alliance with Sotheby’s, the operator of the auction house. The agreement provided for the licensing of the Sotheby’s International Realty name and the development of a full franchise system by Realogy’s subsidiary, Sotheby’s International Realty Affiliates LLC. Affiliations in the system are granted only to brokerages and individuals meeting strict qualifications. Sotheby’s International Realty Affiliates LLC supports its affiliates with a host of operational, marketing, recruiting, educational and business development resources. Franchise affiliates also benefit from an association with the venerable Sotheby’s auction house, established in 1744. For more information, visit www.sothebysrealty.com.
