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Real Estate Notes

March 30, 2012
Cape Coral Daily Breeze

Association: Median price rises; foreclosure sales drop

Members of the Realtor Association of Greater Fort Myers and the Beach Inc. reported 988 existing single family home sales for the month of February 2012. This is 17.25 percent below the number recorded (1,194) in February 2011; however, it is an increase of 14.48 percent from January 2012, when 863 single family homes were sold.

More than 62 percent of those sales were traditional properties; short sales made up 19.66 percent and foreclosure sales made up 18.05 percent of total sales. By comparison, in February 2011 traditional sales accounted for 39.67 percent while short sales accounted for 19.74 percent and foreclosures accounted for 40.59 percent of total homes sold.

This significant shift in types of properties sold had an impact on the median price, which rose to $120,000 in February 2012. This is $28,000 higher than the median price recorded in February 2011 or an increase of 30.43 percent. The median price also moved month to month by $14,000 for a 13.21 percent increase from January 2012.

Current overall inventory (8,181) properties for sale in the Greater Fort Myers area is down 26.73 percent compared to February 2011, and down 1.39 percent compared to January 2012. Single-family home inventory (4,631) is down 33.03 percent compared to February 2011, and down 1.0 percent compared to January 2012.

At the current pace of sales, there is a 4.1-month absorption rate for homes in the Greater Fort Myers area inventory (down from a 5.2-month rate in February 2011 and from a 4.2-month rate in January 2012).

Sales reported by the Realtor Associa-tion of Greater Fort Myers and the Beach Inc. represent all sales by members of the Association, not necessarily those sales strictly in Lee County. Note that statistics released each month may be revised in the future as new data is received.

Stock Development pledges support

for Builders Care

Stock Development, a premier South-west Florida development firm, has launched a unique program, pledging support to Builders Care through each home sale. As a certified building partner, Stock Development is donating $100 from each home sale to Builders Care, providing funding to assist them in helping local homeowners in need of renovations. In addition, Stock Development is donating its services and resources to complete a large residential renovation project for a qualifying homeowner in Lee County.

The funds provided by Stock Development's home sales in Lee County will provide wheelchair ramps, handicap accessibility, widened doorways, roof and air conditioning repairs and more.

Builders Care is the nonprofit charitable arm of the Lee Building Industry Association. Its mission is to provide emergency repairs and construction services to elderly, disabled and economically disadvantaged people who are unable to obtain home repairs through traditional means.

Donations can be made online at, or to the Builders Care general fund at BB&T Page Field branch at 4959 South Cleveland Ave. in Fort Myers.

Applications are available on the web site or more information is available by calling 239-938-0056.

D.R. Horton purchases

30 homesites in Stonyhill

D.R. Horton has purchased the remaining 30 homesites in Stonyhill, a neighborhood of cul-de-sac streets and estate single-family homes overlooking lakes in Sandoval, the 524-acre master-planned community in Cape Coral.

The national homebuilder, which has offered single-family homes in Sandoval's Ashbury and Blackburn neighborhoods since May 2010, introduces three new single-family floor plans in Stonyhill.

The builder's new one- and two-story homes offer three to five bedrooms, 2,426 to 3,552 square feet of living space, three-car garages and prices from $264,990. Each of the floor plans has kitchen pantries and breakfast bars with adjoining nooks or cafes and master suites with his-and-her closets, separate tubs and showers, private water closets and linen closets.

At Sandoval, a casual lifestyle, tropical feel and community center with a

The Sandoval Welcome Center is located on Veterans Parkway just west of Surfside Boulevard. For more information about Sandoval, call 888-945-0432 toll-free, or visit

Stevens Construction

completes The Center

for Drug-Free Living, Operation Home Front

Stevens Construction has completed The Center for Drug-Free Living Inc. Operation Home Front, announced Mark Stevens, company president.

Located at 3905 Grissom Parkway in Cocoa, Fla., the 32-bed, two-story rehabilitation facility serves as an extended living residence for women veterans of military service. The 8,800-square-foot Center for Drug-Free Living includes common laundry facilities, meeting rooms, glass elevator and administrative offices.

The Stevens Construction team entailed JP Pencil as superintendent; Troy Hernly as project manager; and Terri Sobeck as project administrator. Gonzalez Heydrich Design, Inc. was the architect of record.

With offices in Orlando and Fort Myers, Stevens Construction specializes in providing construction management, general contracting and consulting services to clients and design professionals. Other services include site and design team selection, budgeting, project scheduling, permitting, cost and quality control and warranty service.

The company builds healthcare, commercial and hospitality facilities. For information, visit or call239-936-9006.

Realtor sales

splash at Sandoval

Realtors recently gathered at Sandoval for a poolside barbecue and to hear about what's creating waves at the community. The event offered the opportunity for guests to learn about the latest on Cape Coral's resort-style community while dining in a tropical setting.

Community representatives, along with builders, D.R. Horton, Pulte Homes and Taylor Morrison, presented information about current models, sales incentives as well as Phase III by Taylor Morrison.

For more information, visit



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