Home Buying in Naples>Question Details

Llombo, Home Buyer in Naples, FL

Shopping from Chicago for a 3bedroom condo in Naples. Does anyone know why so many Borghese Ln. condos are for sale? Should I steer clear?

Asked by Llombo, Naples, FL Sun Mar 28, 2010

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I think these condos are a good opportunity and very good value for what you are getting. There were many investors that bought in this community and are upside down now , but that is problem is working it's way through. I just sold one in there and if you are looking for deep value in a luxury hirise, I think you will be happy with this selection. You may have to deal with higher condo fees till the distress properties are all cleaned up, but I feel it will be worth it in the long run
Web Reference: http://www.johnkrol.net
0 votes Thank Flag Link Tue Mar 30, 2010
In todays market, it would be to your benefit to find out as much as you can regarding a condo community. Especially if that community has a lot for sale. You could potentially end up spending more than you anticipated regarding Homeowners and association fees.
If you would like to shop real estate listings with out the hassels log onto Claudettelooker@listingbook.com
There you will be able to surf the MLS just like a real estate agent. Let me know if you need further assistance.
Take care and best of luck.
Claudette Looker
John R Wood Realtors
0 votes Thank Flag Link Mon Mar 29, 2010
I am not sure if our answer is now missing, but I will reiterate it again. We are very familiar with Hammock Bay and the condominiums for sale on Borghese Lane. As an FYI, Borghese Lane encompasses 3 towers and the low-rise Borgheses with some 400+ residences. We just sold a Serano and Lesina Tower residence is the past 6 weeks, and we were showing the Borghese low-rises today. We have a copy of the new buyer package for these condos. which also includes the financials for 2009, and the budget. Contact us directly and we can make arrangements to get you those documents.

John & Sandra James
Prudential Florida Realty
(239) 784-7000
E-Mail: MarcoTropicalRealty@comcast.net
0 votes Thank Flag Link Sun Mar 28, 2010
Dear LLombo,
This community is in Hammock Bay & Country Club, a WCI community, and like many others, has it's problems.
Many of these condos and villas were purchased at the peak of the market. Like many other communities, many owners are having problems with mortgage commitments.

There are many issues facing condominiums throughout the greater Naples area. It's in your best interest to have a professional REALTOR assist in navigating you through murky waters, not only to find the suitable property, but to protect your interests during a legal process.

Please feel free to contact me, or visit my website to view the resources available to you.

Mary Horesco
Downing-Frye Realty, Inc.
"Voted #1 by Naples Daily News Readers Seven Years in a Row"
Web Reference: http://www.maryhoresco.com
0 votes Thank Flag Link Sun Mar 28, 2010
We are quite knowledgeable regarding the condominiums in Hammock Bay, and more specifically on Borghese Lane. In fact, we have a copy of the financials for the towers for sale also for the low-rise condos. Please call or e-mail us directly and we can make arrangements to send you these documents. As an FYI, we just closed on a residence in the Serano and also in the Lesina, and we were showing the low-rise Borgheses earlier today.

John & Sandra James
Prudential Florida Realty
(239) 784-7000
E-Mail: MarcoTropicalRealty@comcast.net
0 votes Thank Flag Link Sun Mar 28, 2010
HI, Lloymbo,

Like many areas in Southwest Florida, many properties were purchased by investors and when the real estate market dropped, these investors couldn't keep up with the mortgages and such properties foreclosed or are on the market as short sales. For more info on specific properties on Borghese Lane, please feel free to call or drop me an email. Or sign up for a listingbook account through the last link below and you may search properties yourself.

Lloyd Nichols
Right Choice Realty LLC
cell: 239-810-2980
office: 239-463-5217
Activerain Local Blog: http://localism.com/neighbor/lloydn
Active Rain Blog: http://activerain.com/lloydn
Website: http://www.mlsouthwestfloridahomes.com Search the MLS in Southwest Florida
Listingbook: http://lloydnswfloridahomes.listingbook.com
0 votes Thank Flag Link Sun Mar 28, 2010
Make sure that the condos are FHA approved. If they are not something is wrong. It could be to many vacancies, the HOA being in bad financial trouble or other things like unfinished construction.

It could just be condos are not selling. Some places have a huge oversupply.
0 votes Thank Flag Link Sun Mar 28, 2010
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