Jasmine Bay

Asked by Larry, Estero, FL Thu Feb 19, 2009

Does anyone know anything about this building? Has it been turned over to the homeowners association? Is the developer stable?

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This question is about this property: http://www.trulia.com/property/1068939962-4761-W-Bay-Blvd-Es…

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4
Mark Washburn, Agent, Cape Coral, FL
Fri Feb 20, 2009
West Bay Club attracts attention due to its ownership by Lehman Brothers, who filed the largest bankruptcy in US history in September 2008.

You will find HOA challenges throughout virtually every newer community in Southwest Florida. Communities with lower price points suffer the most as they attracted significantly more speculative buying. New construction pricing at Jasmine Bay was significantly higher than the range where most of the flippers were playing. I sure haven't seen a wave of foreclosure listings at Jasmine Bay like we are seeing at some of the downtown Fort Myers high-rise buildings.

A thorough review of the condo docs and budget is an important step if you are considering an investment at Jasmine Bay.

Good luck in your search!
0 votes
LLoyd Nichols, Agent, Fort Myers, FL
Thu Feb 19, 2009
Hi L,
the one property you sent the link to is pending however there is another one at a reasonable price at West Bay/Jasmine Bay : here is the link:
http://lloydnswfloridahomes.listingbook.com/?node=17-0-email…
Yes the fees are higher. For both HOA and condo fees its about $950+ together per month This is a top notch /luxury community. Peter Dye designed this Championship Golf Course,you have tennis courts, community boat dock and your private access to a Beach Club in Bonita Springs on Hickory Blvd and more like guest suite, concierge...So its offers a lot.
Any buyer will get around 2 weeks after their offer is accepted to review the Rules and Regulations of the community and look at how much reserve they have and how healthy they are. When you consider that other condos are offered for at least $479,000 in Jasmine Bay, the one I am sending at under $300K is still an attractive buy.As of today I see only 4 condos for sale which is a good sign that the community is holding up.
If you want more info regarding Jasmine bay or other similar communities let me know.
and Happy Hunting!
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
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Web Reference:  http://activerain.com/lloydn
0 votes
Scott Riddle, Agent, Naples, FL
Thu Feb 19, 2009
L,

West Bay is very nice, but I know an owner in the community and they master HOA is hurting a little. They are talking about taking away the shuttle to the beach and a few of the other services. As you know Lehman bought West Bay several years ago and when they started having money issues it was only time before it started to slide down hill and affect anything they had ownership in. There are some great deals in the community and I beleive they will get all the issues handled in time.
If I can do anything else for you or answer any questions feel free to contact me.

Thanks,

Scott Riddle, (CSP) Certified Short Sale Professional
Sand Castle Realty Group
239-289-1849
239-390-0027 fax
http://www.NaplesRealEstatePros.com
http://www.ScottRiddle.topseller.net
0 votes
LLoyd Nichols, Agent, Fort Myers, FL
Thu Feb 19, 2009
This property is currently under contract. It is a good, stable community. For more properties in the community that are available, please feel free to email me or call.

LLoyd Nichols
Realtorlloydn@aol.com
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
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