New Construction: Marbella Isles and Riverstone

I have spent a fair amount of time recently in two GL Homes communities literally ‘coming out of the ground’ here in the Naples area: Riverstone and Marbella Isles. It’s an astounding sight at both locations! Finished homes are issued CO’s as concrete blocks and roof tiles are being delivered next door! We see signs “Private Residence” on neatly mowed lawns next to places that are yet to acquire doors and windows. It this a ‘hot’ market or what? In both communities, one is likely to be driving on streets the GPS has yet to hear about. In some neighborhoods, the bulldozers and paving machines that carved the layout are still on the premises!

Riverstone is the more expansive and roomy community of the two, located just north and east of I-75 Exit 111. The cost per square foot varies (MLS, today) from $156 to $323 — reflecting a wider range of currently available style and configuration options.

Marbella Isles offers a narrower CPSF index — ranging currently from $216 to $270. However, there are three individual communities within that gated area — with the location (Livingston north of Pine Ridge) worth a premium to those looking for closer access to downtown Naples, the beaches, and the traditional shopping and dining standard bearers. In most new construction offerings, including these GL communities, it appears the developers are shaving those purchase prices very close to the cost of construction — net a wide range of available upgrades at additional cost. The new clubhouse was officially opened last week and it’s spectacular: complete with a kid’s water park and an indoor basketball court!

Again, no single report or summary can do justice to what is happening in the Naples area market development-wise. Potential buyers of new construction already in place likely have an established relationship with a Realtor® and should simply continue to pursue their goals in the same trajectory for as long as it remains productively valuable. Just because a buyer can walk in to a sales office unassisted doesn’t mean it’s universally wise to do so.

For new buyers — especially from out of state locations — a worthwhile suggestion is to contact a trusted local (in your present state or city) Realtor® to act as your primary transaction agent — and ask her or him to establish a link on this end. Unlike in other professions — real estate transaction buyer-seller costs are fixed and shared among as many specialists as the involved parties care to involve. (Legal, appraisal, inspection, assessment, and other optional charges notwithstanding.)

Wrap: the new construction market is nothing short of exciting here in SouthWest Florida. I have previously experienced what was described at the time as living in an area of ‘rapid or explosive development’ — in both California and Florida. What I am seeing here can be described as easily equaling what any of those optimistic forecasts of the past attempted to convey.

Call me.