Featured Neighborhood: The Plantation Golf & Country Club

The Plantation Golf Fort Myers

The Plantation Golf Fort Myers

Fort Myers, Florida Great Golf at reciprocating courses

The Plantation has a community that suits your lifestyle.

A cold glass of lemonade on a shady porch. News of far-flung family and friends. A warm welcome after a long journey. This was the scene played out at every plantation in the Old South and the West Indies when friends came to visit. In this day of hurried lives lived in overdrive, wouldn’t it be nice to come home to a place that captures something of this graciousness? Refined for today’s sensibilities, that’s the idea behind The Plantation.

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Plantation Golf and Country Club

The Plantation has a community to suit your lifestyle whether you’re a working professional or a lover of golf. Thanks to its ideal location just east of I-75 at Daniels Parkway and Treeline Avenue in Fort Myers, all residents will be a short distance away from what’s important to them.

Florida Gulf Coast University is just minutes away. With an elementary, middle and high school in the area, The Plantation is ideal for families. Seasonal residents will find that their gate at the Southwest Florida International Airport is just minutes from our front gate. Everyone will appreciate the easy access to shopping, including the upscale Bell Tower Shops.

A News-Press article just printed

“The prices at The Plantation for what you get are very good,” according to a recent Buyer.

The Plantation Fort Myers

The Plantation Fort Myers

There are more than 300 homes at The Plantation. At build-out, the community will include approximately 2,000 homes, split about evenly between its Somerset and Bridgetown enclaves, Mairn said.

The retirees chose the community for its close proximity to the beach, airport and shopping, as well as the amenities.

Residents pull out their clubs on an 18-hole Hurdzan-Frye-designed course in the community’s Somerset enclave. Golfers have reciprocal rights to play at The Plantation’s sister property, The Quarry of Naples.

Through the end of August, those who purchase new homes at The Plantation can pay $9,000 in membership initiation fees, rather than the usual $15,000.

A Golfer’s Paradise

The Plantation Golf Course in the Somerset community was designed by renowned golf course architects Hurdzan-Fry. Each hole has a distinctive personality while creating a design that accommodates both recreational players and more competitive golfers.

The course features 18 holes of championship golf, totaling 7,233 yards, five sets of tee boxes at each hole, Sea dwarf paspalum turf (among the best surfaces for play) and extensive practice facilities so you can learn and improve your game.

Stay Active

The Great House is a 30,000-square-foot clubhouse featuring an interior reminiscent of a fine British Colonial manor home. The focal point is Dartington’s, an inviting restaurant and bar with two cozy fireplaces. Beautiful terraces encircle the clubhouse, with spectacular views of the golf course and driving range.

About the Area

The picturesque shoreline of the Caloosahatchee River along with the tropical barrier islands define the landscape and draws an interesting blend of people of all ages. From the historic Thomas Edison and Henry Ford residences, to the finest in dining and shopping experiences, Fort Myers is sprawling with energy and growth. All year long residents and visitors will enjoy the array of activities in paradise.

203K Specialist

jim-jones-fort-myers-real-estateAs of June 2011, I received the 203k Specialist Designation from REbuildUSA

“My 203k Specialist™ designation training positions me to provide professional guidance to those who would like to locate a great home in a great neighborhood to be renovated to meet their needs. These are the homes offered at the most competitive prices. Additionally, as a member of REbuildUSA, I can help my buyers more easily navigate the process of planning, securing loan approval and completing the home improvements.”

203k specialist fort myers203k Specialists are also trained to bring a strong competitive advantage to home sellers by more effectively marketing their homes to a wider audience. The REbuildUSA List Assist program provides visualization tools and cost estimates allowing prospective buyers to better recognize the value of an available property, and the 203k Specialist can then help them put the power of the FHA 203k to work in purchasing and renovating the home.

It’s Easy to Get Started

Your REbuildUSA 203k Specialist will:

  • Help you determine your buying power and get the process started.
  • Help you locate the best home to be renovated for your needs.
  • Using the REbuildUSA project portal, schedule your home inspection and introduce you to your personal Lowe’s renovation consultant
  • Assist you in packaging your renovation bids and financial documents.
  • Help you finalize the purchase to begin renovation of your new home
  • Enjoy the support of your RebuildUSA 203k Specialist at NO additional cost to you!

Rehab a Home w/HUD’s 203(k)

The Federal Housing Administration (FHA), which is part of the Department of Housing and Urban Development (HUD), administers various single family mortgage insurance programs. These programs operate through FHA-approved lending institutions which submit applications to have the property appraised and have the buyer’s credit approved. These lenders fund the mortgage loans which the Department insures. HUD does not make direct loans to help people buy homes.

The Section 203(k) program is the Department’s primary program for the rehabilitation and repair of single family properties. As such, it is an important tool for community and neighborhood revitalization and for expanding homeownership opportunities. Since these are the primary goals of HUD, the Department believes that Section 203(k) is an important program and we intend to continue to strongly support the program and the lenders that participate in it.

Many lenders have successfully used the Section 203(k) program in partnership with state and local housing agencies and nonprofit organizations to rehabilitate properties. These lenders, along with state and local government agencies, have found ways to combine Section 203(k) with other financial resources, such as HUD’s HOME, HOPE,and Community Development Block Grant Programs, to assist borrowers. Several state housing finance agencies have designed programs, specifically for use with Section 203(k) and some lenders have also used the expertise of local housing agencies and nonprofit organizations to help manage the rehabilitation processing.

The Department also believes that the Section 203(k) program is an excellent means for lenders to demonstrate their commitment to lending in lower income communities and to help meet their responsibilities under the Community Reinvestment Act (CRA). HUD is committed to increasing homeownership opportunities for families in these communities and Section 203(k) is an excellent product for use with CRA-type lending programs.

If you have questions about the 203(k) program or are interested in getting a 203(k) insured mortgage loan, we suggest that you get in touch with an FHA-approved lender in your area or the Homeownership Center in your area.

Introduction

Section 10 1 (c) (1) of the Housing and Community Development Amendments of 1978 (Public Law 95557) amends Section 203(k) of the National Housing Act (NHA). The objective of the revision is to enable HUD to promote and facilitate the restoration and preservation of the Nation’s existing housing stock. The provisions of Section 203(k) are located in Chapter II of Title 24 of the Code of Federal Regulations under Section 203.50 and Sections 203.440 through 203.494. Program instructions are in HUD Handbook 4240-4. HUD Handbooks may be ordered online from The HUD Compendium or from HUDCLIPS.

203(k) – How It Is Different

Most mortgage financing plans provide only permanent financing. That is, the lender will not usually close the loan and release the mortgage proceeds unless the condition and value of the property provide adequate loan security. When rehabilitation is involved, this means that a lender typically requires the improvements to be finished before a long-term mortgage is made.

When a homebuyer wants to purchase a house in need of repair or modernization, the homebuyer usually has to obtain financing first to purchase the dwelling; additional financing to do the rehabilitation construction; and a permanent mortgage when the work is completed to pay off the interim loans with a permanent mortgage. Often the interim financing (the acquisition and construction loans) involves relatively high interest rates and short amortization periods. The Section 203(k) program was designed to address this situation. The borrower can get just one mortgage loan, at a long-term fixed (or adjustable) rate, to finance both the acquisition and the rehabilitation of the property. To provide funds for the rehabilitation, the mortgage amount is based on the projected value of the property with the work completed, taking into account the cost of the work. To minimize the risk to the mortgage lender, the mortgage loan (the maximum allowable amount) is eligible for endorsement by HUD as soon as the mortgage proceeds are disbursed and a rehabilitation escrow account is established. At this point the lender has a fully-insured mortgage loan.

Eligible Property

To be eligible, the property must be a one- to four-family dwelling that has been completed for at least one year. The number of units on the site must be acceptable according to the provisions of local zoning requirements. All newly constructed units must be attached to the existing dwelling. Cooperative units are not eligible.

Homes that have been demolished, or will be razed as part of the rehabilitation work, are eligible provided some of the existing foundation system remains in place.

In addition to typical home rehabilitation projects, this program can be used to convert a one-family dwelling to a two-, three-, or four-family dwelling. An existing multi-unit dwelling could be decreased to a one- to four-family unit.

An existing house (or modular unit) on another site can be moved onto the mortgaged property; however, release of loan proceeds for the existing structure on the non-mortgaged property is not allowed until the new foundation has been properly inspected and the dwelling has been properly placed and secured to the new foundation.

A 203(k) mortgage may be originated on a “mixed use” residential property provided: (1) The property has no greater than 25 percent (for a one story building); 33 percent (for a three story building); and 49 percent (for a two story building) of its floor area used for commercial (storefront) purposes; (2) the commercial use will not affect the health and safety of the occupants of the residential property; and (3) the rehabilitation funds will only be used for the residential functions of the dwelling and areas used to access the residential part of the property.

CALL/EMAIL or TEXT ME FOR MORE INFO

239.822.9196 / jim@realestateofswflorida.com