Home Buying in Naples>Question Details

Mizzou, Home Buyer in Springfield, MO

Any thoughts on Granada Lakes in Naples? The units look decent and the prices are low. Are there hidden?

Asked by Mizzou, Springfield, MO Fri Apr 17, 2009

issues to this development?

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1 vote Thank Flag Link Thu Sep 5, 2013
If you are considering moving into the condos at Granada La on Radio and Santa Barbara I would recommend looking somewhere else. I am a resident there and the apartments are riddled with mold, the management is a nightmare, pool unfilled and has been for the entire time have been there (8 months), endless problems that management ignores. Community' s going down hill- not up.
0 votes Thank Flag Link Tue Feb 24, 2015
i have lived there for 4 yrs now ,we finally have new management doing alot , the old property mgmnt. company let a lot of things go ,but werent affraid to take my money ,its a good community going in the rite direction and will continue to do so.
0 votes Thank Flag Link Wed Sep 4, 2013
I just got from Naples the first of December, and looked at Granada Lakes Condos for an investment. It looks to me as if the Condo Corp is broke. I have no proof other than the grounds and the buildings are not kept up at all. I went looking for a bargain, but even at 25-27 grand I would not consider these units to be a bargain. I would consider this complex to be low income housing at best. The gates to the entrance of the complex do not work nor have they ever worked. Probably purchase from a property that upgraded and thrown up to make it look like its a gated community.
If you are looking for a headache free investment...RUN the other way! This in my opinion is not it! If it was, I would have bought two or three while I was in town.
There are lots of properties in Naples for sale at reasonable prices. If you want something decent, you will have to spend about 55 and up to be safe.

Hope this helps.
0 votes Thank Flag Link Fri Jan 22, 2010
Hi Mizzou,

This community offers some incredible deals. There are a lot of renters there from investors buying units. There are 55 condos being auctioned on December 6 from the the conversion developer. There are 248 condos there on 40 acres. It has 4 lakes, clubhouse, 2 pools,and fitness center. condos range from 634 sq. ft. to around 1181 sq. ft.. You do not have to wait for the auction if you wanted to buy one of the developer units now. There are 8 active resales on the market, 18 pending sales, and 29 resales report sold in MLS in 2009 so far.

I have recently sold one in there and I feel now is the time to buy there. When all the problems of the developer overhang is gone,and the foreclosures will sell quickly, the opportunity to buy at a fraction of replacement cost will disapear.

If you would like to search granda lakes, you can go to my website: http://www.johnkrol.net or if you would like to see a satellite view of the values go to http://www.naplesproperyvalues.com or if you would like automated emails that check the mls system twice a day and update you go to my website and give me your name and email address at http://www.johnkrol.net
0 votes Thank Flag Link Thu Oct 29, 2009
I live here as a tenant and my landlord is letting the condo go into foreclosure. The reason they are so cheap is because owners who purchased for $250K+ are seeing values dropping to $50K and less and they decide it is more cost effective to let it go than to pay on that huge mortgage. Since prices have dropped, I have noticed the quality of people moving into the condo's is less than wonderful. I've been here a couple of years and I arrived just prior to all the foreclosures happening. It was kinda nice at that point but now my neighbors are horrible. I have to tolerate loud, and I mean LOUD spanish music all weekend long. Management has ignored my pleas for intervention even though the bylaws claim that these kinds of disturbances will not be tolerated. People like to hang out in the parking lot at all hours with the music blasting out of their cars. If you don't mind loud music, there are some real bargains to be had.
0 votes Thank Flag Link Wed Oct 28, 2009
In the height of the market this rental apartment community was converted to condominiums. Some of the 2 bedroom units were going well over $300K. I was there when they offerred these apartments and it was crazy. There hundreds of contracts written in one day.

Unfortunately some units were purchased remodelled, and some were sold as is. The laundry was located in the lanai which was common in the 1970's. This community has several units that seem attractive at 40-60K. I have even seen a foreclosure that was in the middle of a remodel and wasn't completed for $15K.

There are some great deals but keep in mind you may not be able to unload an apartment conversion condo for 3-5 years with a ton of condos in the area.

I don't want to seem all negative. However on the flipside you could find a inexpensive condo within a resonable distance to 5 Avenue south downtown Naples & the beach.
0 votes Thank Flag Link Sun Apr 19, 2009
Hi Mizzou,

I hate to be negative BUT - Buyer Beware. Ever here of that saying? There must be reasons most of the Active units in Granada Lakes are asking less than $50k. I don't know why prices are so low there because I have not taken the time to research that community, but I think 'you' need to do a lot of research before going forward with any purchase in that community.

Good luck,

Dennis Leffert
Lic Real Estate Broker
0 votes Thank Flag Link Fri Apr 17, 2009
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