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Old 07-03-2009, 10:08 AM
 
Location: Rhode Island
37 posts, read 92,818 times
Reputation: 24

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Am considering an investment condo in Bonita Sprints and just wondering if there are any areas or neighborhoods which we should stay clear of? I notice some developments (Walden Center, River Run and Maddox Ln) where condos have been on the market for 3 yrs. Is it the area?

Thanks!
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Old 07-03-2009, 12:35 PM
 
Location: on the edge of Sanity
14,268 posts, read 18,823,680 times
Reputation: 7982
The condos you're talking about on/near Walden Center Drive were apartments and still have a lot of renters living in them, but that's a nice section of Bonita Springs next to Pelican Landing. Personally, I wouldn't want to live that close to route 41, but we all have different tastes and YMMV. I'm not sure who manages the complex now. AFAIK it was a WCI Community. Any time you see something on the market for 3 years, you should stop and wonder why. Look at how many are for sale & the HOA fees. Bonita Springs is a great place to live, but the economy (stores, restaurants closing) has driven many people away. Developers still have lots of inventory from the big housing boom.

Maddox Lane is in the Bonita Springs Country Club area on the other side of route 41, but that's also a nice area. I'm not sure what price range you're looking in, but some of the units are very overpriced IMO. There's a mix of buildings from the 1980s and some newer condos. I looked at a couple of listings 2 years ago and the listing prices are still falling. There's a development on Maddox built in 2006 that still has "new, never occupied" units. So don't be in a big rush!

Hmm...Not familiar with "River Run" If you send me a link, I can comment. I've lived in Bonita Springs for over 13 years, but it's possible I don't know every street! Spring Run in the Brooks.

There are many new, luxury condos in Estero which is just up the road. Some are bank owned. I haven't looked at them, since I'm currently staying in Vero Beach. Just want to mention that some were built by Lennar Homes in 2006, so the first thing that runs through my brain are the 2 words Chinese Drywall. Also, when there are several empty units, I'd be cautious, no matter what the price.

To answer your question in general, Bonita Springs is relatively quiet. There aren't any areas I'd call crime-ridden, although some are less attractive and desirable than others, depending on your personal preferences. Crime has increased over the past few years, but I never felt uncomfortable living there.

I'm trying very hard to be politically correct, since this isn't a judgment, just information. Anyway, there are areas (especially around Old 41 & Rosemary) that are predominantly Hispanic, where you'll hear mostly Spanish spoken in the stores, gas stations and restaurants.

When people online say "I'm looking at a home" I never know if they've actually been to the area and driven around it. The easiest way to know if an area is nice is to drive around and talk to the neighbors. Also, the expression "a picture is worth 1,000 words" comes to mind. When you're driving around neighborhoods, you can often see where people take care of their properties or there's trash in the street, etc.

Regarding an investment, don't expect to buy a condo and rent it anytime soon unless your price is very competitive. A few years ago I couldn't find a decent 2 bedroom rental for under $1,000. Now there are lots of apartments and duplexes renting for $700.
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Old 07-03-2009, 03:57 PM
 
Location: SC
1,141 posts, read 3,531,882 times
Reputation: 641
Quote:
Originally Posted by justNancy View Post
The condos you're talking about on/near Walden Center Drive were apartments and still have a lot of renters living in them, but that's a nice section of Bonita Springs next to Pelican Landing. Personally, I wouldn't want to live that close to route 41, but we all have different tastes and YMMV. I'm not sure who manages the complex now. AFAIK it was a WCI Community. Any time you see something on the market for 3 years, you should stop and wonder why. Look at how many are for sale & the HOA fees. Bonita Springs is a great place to live, but the economy (stores, restaurants closing) has driven many people away. Developers still have lots of inventory from the big housing boom.

Maddox Lane is in the Bonita Springs Country Club area on the other side of route 41, but that's also a nice area. I'm not sure what price range you're looking in, but some of the units are very overpriced IMO. There's a mix of buildings from the 1980s and some newer condos. I looked at a couple of listings 2 years ago and the listing prices are still falling. There's a development on Maddox built in 2006 that still has "new, never occupied" units. So don't be in a big rush!

Hmm...Not familiar with "River Run" If you send me a link, I can comment. I've lived in Bonita Springs for over 13 years, but it's possible I don't know every street! Spring Run in the Brooks.

There are many new, luxury condos in Estero which is just up the road. Some are bank owned. I haven't looked at them, since I'm currently staying in Vero Beach. Just want to mention that some were built by Lennar Homes in 2006, so the first thing that runs through my brain are the 2 words Chinese Drywall. Also, when there are several empty units, I'd be cautious, no matter what the price.

To answer your question in general, Bonita Springs is relatively quiet. There aren't any areas I'd call crime-ridden, although some are less attractive and desirable than others, depending on your personal preferences. Crime has increased over the past few years, but I never felt uncomfortable living there.

I'm trying very hard to be politically correct, since this isn't a judgment, just information. Anyway, there are areas (especially around Old 41 & Rosemary) that are predominantly Hispanic, where you'll hear mostly Spanish spoken in the stores, gas stations and restaurants.

When people online say "I'm looking at a home" I never know if they've actually been to the area and driven around it. The easiest way to know if an area is nice is to drive around and talk to the neighbors. Also, the expression "a picture is worth 1,000 words" comes to mind. When you're driving around neighborhoods, you can often see where people take care of their properties or there's trash in the street, etc.

Regarding an investment, don't expect to buy a condo and rent it anytime soon unless your price is very competitive. A few years ago I couldn't find a decent 2 bedroom rental for under $1,000. Now there are lots of apartments and duplexes renting for $700.
Funny I've been searching apartment rentals in the Bonita Springs/Estero area. I sure can't find any in the 700 range, not that I would live in.

If you know of any decent complexes that are renting in that range, I'd be happy to know about them. I'm getting frustrated with my search. I'd also like to find an apartment community for ages of 55 and over, but those don't look to be too common around there either. I just want to rent a year BEFORE I make any purchase.
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Old 07-03-2009, 08:13 PM
 
Location: on the edge of Sanity
14,268 posts, read 18,823,680 times
Reputation: 7982
Quote:
Originally Posted by Mrs. P View Post
If you know of any decent complexes that are renting in that range, I'd be happy to know about them. I'm getting frustrated with my search. I'd also like to find an apartment community for ages of 55 and over, but those don't look to be too common around there either. I just want to rent a year BEFORE I make any purchase.
I never rented in a complex, so I apologize if my post was misleading. Those rents are rarely negotiable. I was renting from a private owner. My friends just rented a 3 bedroom house for $800, but it's not modern. It's much easier when you live in an area to find these "deals" through word of mouth. Also, you might not like the area where I lived. It is an older section, but it's around the corner from multi-million dollar mansions too. (typical of many Florida coastal towns) Just a strange area with some odd neighbors. But you can ride a bike or walk to the beach, 7-ELEVEN and restaurants. However, I put up with a lot of aggravation to live near the beach and have a large yard. I would never recommend renting from my previous landlord.

Sometimes I've seen signs posted at an intersection along route 41 that read "2/2 condo overlooking lake $800" but, as I wrote, you don't usually find those in the paper or through rental agents.

Last edited by justNancy; 07-03-2009 at 08:24 PM.. Reason: add last sentence
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Old 07-03-2009, 08:22 PM
 
Location: The Conterminous United States
22,584 posts, read 54,029,539 times
Reputation: 13612
When I lived in Bonita, Rosemary was a nightmare. Cops were down there all the time; lot of drugs. My SIL was a dispatcher at the time, so I got all the dirt.
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Old 07-03-2009, 08:36 PM
 
Location: on the edge of Sanity
14,268 posts, read 18,823,680 times
Reputation: 7982
Quote:
Originally Posted by hiknapster View Post
When I lived in Bonita, Rosemary was a nightmare. Cops were down there all the time; lot of drugs. My SIL was a dispatcher at the time, so I got all the dirt.
I was going to post it's safer if you "stay west of 41" but that really isn't true any more. Plus there are many beautiful communities close to the interstate and off of Livingston. There are "pockets" where I wouldn't want to live but, as I wrote in my earlier post, all someone has to do is drive around and it's pretty obvious, at least to me.

Funny to hear John Tesh on his radio program today talking about what to look for when hunting for a home. An FBI profiler wrote a book with advice for people shopping for homes in unfamiliar areas. I've been very careful not to post stuff like "look at the cars" and "check out the lawns" because I've been slammed by other members here. One poster said he can't imagine what goes through the mind of someone like me (not exact words) because I said you need to be careful in areas like Golden Gate Estates where there are no deed restrictions. But this expert on human behavior wrote a book and said some of the same things. Go figure!
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Old 07-03-2009, 10:10 PM
 
Location: on the edge of Sanity
14,268 posts, read 18,823,680 times
Reputation: 7982
Quote:
Originally Posted by Mrs. P View Post
Funny I've been searching apartment rentals in the Bonita Springs/Estero area. I sure can't find any in the 700 range, not that I would live in.

If you know of any decent complexes that are renting in that range, I'd be happy to know about them. I'm getting frustrated with my search. I'd also like to find an apartment community for ages of 55 and over, but those don't look to be too common around there either. I just want to rent a year BEFORE I make any purchase.
I sent you a message, but I'll post these on the board. I doubt if any of these communities will rent units for under $700, but they're all very nice. Depends on your personal taste and, of course, the individual unit you rent. These are not apartments, so they will vary in price.

Over 55 communities in Ft Myers/Estero area that I can think of are....

Pelican Preserve (Ft Myers)
Seven Lakes (Ft Myers)
Cascades (Estero)
Heritage Cove (Ft Myers)
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Old 07-04-2009, 09:11 AM
 
Location: Rhode Island
37 posts, read 92,818 times
Reputation: 24
JustNancy, thanks for your very thoughtful response, very helpful. I thought you were very "politically correct," and appreciate your insight re: Old 41, Rosemary.

And Hipnapster, thanks for the tip about Rosemary. Not sure where that is but will now google it.
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